In their article "A big reason to export" (27 December) Abheek Barua and Purva Singh project India's "potential output" figure at "around 6 per cent". After the global downturn of 2008, India continued to have high gross domestic product (GDP) growth rates of 8.6 per cent and 9.3 per cent respectively, in the financial years 2009-10 and 2010-11. This growth rate dropped only when disruptions arising from the 2G spectrum allocation and iron ore and coal mining scams and a kickback-seeking, deliberately slow approach to environment and other clearances held up innumerable projects. The ban on bauxite mining in Odisha to pander to the blind beliefs of around just 400 tribal families - beliefs that may disappear in just one generation - is only one such example.
Exports are unlikely to grow much with the European Union and Japan stagnating, Russia in a crisis, China slowing down and many emerging economies in trouble - and only the United States showing good growth. Any extra exports will only be the icing on the cake of India's solid internal growth.
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Exports are unlikely to grow much with the European Union and Japan stagnating, Russia in a crisis, China slowing down and many emerging economies in trouble - and only the United States showing good growth. Any extra exports will only be the icing on the cake of India's solid internal growth.
Alok Sarkar, Kolkata
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201 · E-mail: letters@bsmail.in
All letters must have a postal address and telephone number