Apropos the report, "India pitches for rating upgrade by S&P on strong macro data" (September 1), for a country like India, it not comforting if time and again politicians and bureaucrats have to beg for better rating from rating agencies, which have their own interests. Such a situation arises because we have not developed in-house expertise to market the country's strengths and explain the context of its weaknesses.
The National Institution for Transforming India (NITI) Aayog should take up the task of marketing Brand India. This would mean setting up an Indian rating agency, which will learn, understand and speak the language of international rating agencies. Gradually, we will understand our strengths and weaknesses and speed up corrective action.
The country's domestic resources have not been mapped yet. These include surface stock of over 20,000 tonnes of gold and minerals whose value is yet to be assessed. Even financial resources have not yet been brought into the mainstream banking channels. A domestic rating agency, with support from NITI Aayog, will do wonders in boosting the nation's image.
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The National Institution for Transforming India (NITI) Aayog should take up the task of marketing Brand India. This would mean setting up an Indian rating agency, which will learn, understand and speak the language of international rating agencies. Gradually, we will understand our strengths and weaknesses and speed up corrective action.
The country's domestic resources have not been mapped yet. These include surface stock of over 20,000 tonnes of gold and minerals whose value is yet to be assessed. Even financial resources have not yet been brought into the mainstream banking channels. A domestic rating agency, with support from NITI Aayog, will do wonders in boosting the nation's image.
M G Warrier Mumbai
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