Use the mandate

PM Modi’s political capital should be leveraged to reform Indias product markets
( of India – India is a country of young people and around a million of them enter the job market every month. Unless enough jobs can be found for them, the ‘new’ India will end up looking very much like the old.

In terms of employment potential, organized retail offers enormous opportunities. Instead of opening up FDI in retail in a piecemeal manner, the best way ahead is to repeal all restrictions on investment. At one stroke, it will end lobbying and the search for loopholes in the law.

India’s economy is over-regulated. Instead of safeguarding consumer interests, the focus of regulation is on creating unnecessary obstacles to business.

Dismantling this perverse structure requires government to take on powerful vested interests. In this context, recent elections assume salience as Modi has the political capital now to bring about structural changes in India’s regulatory architecture. more>

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