Latest news with #DebashisBasu
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Business Standard
5 days ago
- Business
- Business Standard
Trump tariffs won't trigger 'reforms': Is India facing a trade crisis?
The baseline of Indian reform is a series of slow and half-hearted measures, all the while ensuring that bureaucratic control and the wheels of corruption remain undisturbed Debashis Basu Listen to This Article Last week, United States (US) President Donald Trump imposed a 25 per cent tariff on select Indian exports, and soon escalated it to a threat of 50 per cent, primarily over our continued import of Russian oil. This amounts to punitive sanctions reserved for enemies. Unless reversed quickly, it will deal a hard blow to a few traditional exporters to the US such as garments, leather, and gems and jewellery. The Indian political response has been a predictable mix of defiance and chauvinism, claiming to 'safeguard the welfare of farmers, labourers, entrepreneurs, industrialists, exporters, and small businesses.' But
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Business Standard
13-07-2025
- Business
- Business Standard
F&O Market: The real issues and the socioeconomic benefits questioned
Foreign and domestic traders should be treated equitably in tax matters Debashis Basu Mumbai Listen to This Article The Securities and Exchange Board of India (Sebi) last week issued a damning preliminary order against Jane Street, a New York-based trading firm, accusing it of orchestrating large, synchronised trades across the cash, futures, and options markets to manipulate equity-index levels. The trades allegedly profited Jane Street handsomely while inflicting losses on India's ever hopeful retail investors. In righteous indignation, Sebi declared that 'the integrity of the market and the faith of millions of small investors ... can no longer be held hostage to the machinations of such an untrustworthy actor'. Sebi has banned Jane Street from India's securities markets
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Business Standard
29-06-2025
- Business
- Business Standard
Industrial policy redux: India must counter the Chinese supply grip
China needs nothing critical from India - on the other hand, India needs $115 billion worth of goods every year from China to keep various parts of its economy going Debashis Basu Listen to This Article First it was the shadow-banning of exports of rare earths that panicked Indian electric-vehicle (EV) manufacturers. Now comes the Chinese halt on specialised fertilisers. A German tunnel-boring machine bound for India is reportedly stuck in China, awaiting export clearance. What next? India, the drug-manufacturing giant, imports 80 per cent of key starter materials from China. What if that is choked? China needs nothing critical from India — on the other hand, India needs $115 billion worth of goods every year from China to keep various parts of its economy going. All those who were advocating that manufacturing is less relevant
Business Standard
17-06-2025
- Business
- Business Standard
Debashis Basu
Debashis Basu is a Chartered Accountant by qualification with three decades of experience as a journalist and the author of several business books. He has worked with The Times of India, Business World, Business India, Business Today, Financial Express and has written columns for Business Standard and The Economic Times. He now writes a column for Business Standard every alternate Monday. Along with Sucheta Dalal, he has co-authored two best-selling books, "The Scam: From Harshad Mehta to Ketan Parekh" and "Absolute Power: Inside story of the National Stock Exchange's amazing success, leading to hubris, regulatory capture and algo scam".
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Business Standard
15-06-2025
- Business
- Business Standard
RBI repo rate cuts alone can't shift India's economic growth gear
Clearly, it is not for the RBI and its monetary policy committee (MPC) to fix any of these deep structural issues and magically create growth premium Debashis Basu Listen to This Article On June 6, the Reserve Bank of India (RBI) surprised the markets — it sliced the repo rate by 50 basis points (bps) to 5.5 per cent and cut the cash reserve ratio (CRR) by 100 bps, phased over four 25-bp tranches from September to November. The move, expected to inject ₹2.5 trillion ($30 billion) into the system, briefly lifted spirits: The Nifty index climbed 1 per cent that day, with a modest gain the day after. However, by the end of the week, the index had slumped below its pre-cut level. The rate cut is a sideshow. With the
