8/12/2019 When Politics Takes Precedence Over Economics
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NCM-JUNE 2014
OUR
VALUED
ADVERTISERS
IN THIS ISSUE ARE
G.D. JASUJAMa na g ing Ed it o r
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Editorial
7
When Politics Takes Precedence Over Economics
Aeon Chemicals (p101)
Amco Dyeing (p101)
Azure Fabrics Pvt. Ltd. (p101)
Chemidyes (India) Corporation (102)
Colorant Limited (III Cover)
Darshit Trading Co. (p9)
Ganesh Polymers (p99)
[email protected] (102)
Inter Continent Chemical (India) Ltd. (I Cover)
Inter Continental Industries (p5)
Jay Ambey Textile Processors (p102)
Jay Chemical Industries (IV Cover)
Jyoti Laboratories (p99)
Kumar Textile Industries (p99)
Leo Rubber Industries (p101)
LS Auxichem Pvt. Ltd. (p10)
Mafatlal Food Products Pvt. Ltd. (p101)
Mars Exports (p99)
Meghmani Dyes & Intermediates Ltd. (p6)
Microgenix Specialities Pvt. Ltd. (II Cover)
Oriental Gums & Bio-Polymers (p99)
Rang Rasayan Agencies (p102)
Veeraj Associates (p102)
Worldtex Speciality Chemicals (p102)
I am supposed to write something related to textile and/or
allied industries inmy editorial because this is a trade
publication and writing on politics mayseem to be little misplaced.
But I strongly feel that ultimately the politicalclass is
responsible for the countrys economic, social and cultural
position.Any mis-step in todays highly interconnected,
interdependent and conflictingworld can cause immense harm to the
country. But the governance requiresmaking decisions and many times
very hard and difficult decisions have to be
taken rather quickly to have the desired result.
I tend to look at what the future has in store for all of us, in
general, speciallyamidst rising geopolitical tensions in various
parts of the globe that have broughtpowerful nations head-on. The
countries openly involved are China, Japan,Vietnam, Russia, the US
and the EU. China is involved in a maritime dispute inthe East
China Sea with Japan and over the South China Sea with Vietnamand
the Philippines. Russian act of force in Ukraine has earned Putin
theenmity of the United States and the European Union and they have
imposedfresh sanctions on Russia. These sanctions have somehow
brought Russiaand China nearer. On the other hand, the US has made
it clear that it is imple-menting its strategy of rebalancing to
the Asia-Pacific by having comprehen-sive partnerships and
alliances (including military capabilities) with countries
like Japan, South Korea, Vietnam, the Philippines and
Malaysia.
The current world scenario is clearly giving an ominous sign
that the futuremight be highly uncertain and fraught with hardship.
Bloomberg has reportedthat China is hoarding crude at the fastest
pace in at least a decade, shieldingitself from supply disruptions
and helping keep prices above $100 a barrel. Theanalysts are busy
decoding the message hidden behind this development. Theglobal
tensions are creating much market volatility and also problems for
mul-tinationals that rely on these countries for manufacturing.
With Narendra Modi becoming PM, most Indians hopes have
obviously sky-rocketed. The international community, however, is
feeling left in doubt aswell as hope about the economic growth
under the new government andalso about the foreign policy issues
particularly in light of the above-men-tioned difficult scenario.
Whether India will decide to be closer to the US-Ja-pan-EU or the
China-Russia group will be keenly observed. This will also be
anacid test for Modis governance on the global stage. In fact, this
will alsoimpact the countrys financial and economic road-map in the
coming years.
The current global scenario has intertwined so many countries,
including In-dia, in such a way that they may have to make their
position clear sooner thanthey expect in order to decide the
direction they wish to move on in the bestinterest of their
people.
Lets all hope for the best in coming years.
