Institute for Business in the Global Context

Where the World of Business Meets the World

Tag: India (page 1 of 4)

A Lynching in the Digital South

 The fervour of the lynch mobs was largely facilitated by social media, which efficiently delivered rumours to solidify a “common cause”. Among these, WhatsApp is the prime carrier, with over 200 million Indian users in a given month. WhatsApp, of course, is an important part of the largest digital media enterprise on earth: Facebook. It has captured the attention of Indian users like no other app, has become an addictive and efficient spreader of forwarded “good morning” cheer, Santa-Banta jokes, pictures of newborn grandchildren — and, without question, venomous rumours that can whip up a digitally orchestrated frenzy.

Read the full piece from Dean Chakravorti in The Indian Express

Growth in the Machine

Without question, the race for AI dominance is between the US and China. However, despite its junior status — and this might come as a shock to some — there are, indeed, AI-relevant advantages unique to India. Three are particularly worth noting and give me reason for hope.

Read the full piece from Dean Chakravorti in The Indian Express

Three un-Davos men

None of these men are ideologues in the classic sense. They are the latest incarnations of Huntington’s culture warriors — they are masters of the culture of contradictions. Xi has revived his own form of Maoism, with unchallenged state control, now sauced up with dollops of market- and technology-infused pragmatism. Modi, for his part, embraces Hindutva and foreign leaders with equal vigour and is equally facile at following ancient texts and his WhatsApp feed to check on who has responded to his daily greetings. As for Trump, he is consistent only in playing to the base that brought him to power and to his own base instincts. He can also talk up America like a luxury condo he has developed for the exclusive use of global investors even as he sends strong signals that the condo is not open to the riff-raff, especially from certain continents or certain religions. These are the unDavos Men, who are consistent in their adherence to contradiction.

Read the full piece from Dean Chakravorti in The Indian Express

The Aadhaar Opportunity

In an age rife with digital innovation, India has made two meaningful contributions: The number “zero” and Aadhaar. Okay, I cheated a little bit with the first one, given its pre-digital age origins, but let’s not allow petty details to get in the way. Aadhaar is a monumental IT project and a monumental vision for inclusion. Aadhaar, as a concept, lays the very foundation of trust in the digital age. And it does so regardless of caste, Facebook status or creed, across a billion people. Unfortunately, this also means that Aadhaar is a treasure trove of personal data on a billion people; therein lurks a parallel potential for widespread mischief. A journalist writing for The Tribune suggests that, indeed, such mischief can be pulled off rather easily.

Read the full op-ed from Dean Chakravorti in The Indian Express

Memo to the World Bank: India should be rated even higher in the ease of doing business rankings the next time

Pop the champagne and pass the mithai — for it is, indeed, the epoch of belief, the season of light in the world’s largest democracy. After languishing in the World Bank’s league tables, India is, finally, getting its due: It has been admitted to the top 100 nation club for Ease of Doing Business. Prime Minister Narendra Modi is one giant step closer to fulfilling every Indian’s dream.

It is now time to plot the next big move — to break into the top 80 nations club. With all the hard work already behind us, this next step should be a piece of cake. Here is how.

Read the full piece in The Indian Express

Student Research: Demonetization gave a push towards digital payments – But is India ready to do away with cash?

by Raunak Mittal (MALD 2018)

Demonetization, a bold move executed by the current government in India took everyone by surprise. Good or bad, it is one of the biggest policy decision taken by an economy as large as India in the recent past. The aspects that interest me in this big policy decision are the effects of this move towards the digitization of finance, including digital payments and alternative lending.

There has been a focus on alternative modes of credit lending ,not just in developing economies but also in the developed economies like the US. As part of my ongoing research, I had the opportunity to talk with the founders and leaders of alternative lending startups like Numerated, DistilledAnalytics, Branch.co and Entrepreneurial Finance Lab in the US. However, for getting a closer look on what is happening in India post the biggest strike on cash, I continued my research with the help of IBGC by visiting India during in August 2017. My research plan was two-fold: to meet startups that are operating in the space of digital finance or alternative lending; and to observe the change in people’s behavior in dealing with day-to-day transactions nine months post-demonetization.

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Ig-Nobel Mistakes

Wiping out 86 per cent of a country’s currency is rarely a “good start” on anything. In a country where, according to recent analyses of income-tax probes, the cash component of undeclared wealth is estimated to be only about six per cent, leaving an economy virtually cashless is certainly not a good place to end up. If Thaler had studied the data on the Indian economy he might have realised that the policy instrument he had supported was aimed at the wrong target: The currency of corruption is mostly in non-cash assets.

Read the full piece from Dean Chakravorti in The Indian Express

Beware the Trump Effect

This is a tale of two septuagenarians; I hope they never meet. One is the country of India as an independent democratic nation. The other is the American president, a reminder that independent democracy provides no guarantee for its product. When Prime Minister Narendra Modi visited Washington DC, he extended an invitation to the Trump parivaar to visit India. Ivanka Trump accepted right away and recently the details of her visit have been re-confirmed by the official medium of this White House — over a tweet. While Ivanka’s appearance would be harmless enough, it would be best if Daddy chooses to stay away.

Read the full piece from Dean Chakravorti at Brookings

When can we stop using cash?
by Kai Ryssdal & Maria Hollenhorst

Here’s a question: How much cash is in your wallet right now? If you answered not a whole lot, that’s not very surprising. It’s getting ever easier to operate in this economy without carrying cash. You tip your Lyft driver on your phone, you pay your dinner bill with a credit card and you Venmo your friends to split the check. Consider then, the future of cash. Bhaskar Charkravorti, the senior associate dean of international business and finance at The Fletcher School at Tufts, has done a number of studies on the subject, including the “Cost of Cash.”  Marketplace host Kai Ryssdal spoke to him about the future of bills and coins in this changing world. The following is an edited transcript of their conversation.

Listen to the interview with Dean Chakravorti on Marketplace

If Trump, Modi Talk Climate

All this makes for an awkward prelude to Prime Minister Narendra Modi’s visit to Washington — a pity, since the two headstrong heads of state have a lot in common. Diplomacy may demand that the climate kerfuffle be kept off the agenda. In the unlikely event that it does come up, though, here is a cheat sheet for the PM.

Read the full piece from Dean Chakravorti in The Indian Express

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