Hello and welcome to Best of Business Standard Opinion, our wrap of the day’s editorial page.
India-US trade negotiations have reached a difficult stage, with further concessions from either side appearing increasingly hard. The urgency stems from Donald Trump’s focus on reducing US trade deficits through tariffs, with India’s $34-billion surplus presenting a particular challenge. Cutting this surplus could force India to shift imports from other countries to the US, even when that may be economically inefficient. The broader US goods trade deficit has also continued to rise despite tariffs, questioning the effectiveness of Washington’s approach. Today’s first editorial stresses that India should remain engaged with Washington while protecting its long-term interests and broader strategic relationship.
Maharashtra’s drought declaration across 265 talukas highlights the consequences of India’s deficient 2026 monsoon, which ended with rainfall 12.6 per cent below normal. Crop losses in soybean, cotton, tur and maize threaten farm incomes, food prices and rural demand, while depleted reservoirs could complicate irrigation and drinking-water supplies during the rabi season. Weak rainfall has affected hydropower generation, increasing dependence on coal amid supply pressures. Our second editorial calls for a comprehensive response, including prioritising water for essential needs, crop advisories, compensation for affected farmers, and investment in water-use efficiency. Maharashtra should reduce dependence on water-intensive crops such as sugarcane.
The GST Council’s 57th meeting should focus less on tax rates and more on simplifying procedures, improving compliance, and reducing bureaucratic discretion. After the sweeping rate rationalisation of September 2025, the proposed measures could ease business operations across sectors by streamlining registrations, speeding refunds, facilitating input-tax credit, reducing litigation, and simplifying compliance. A K Bhattacharya highlights measures that could curb arbitrary highway checks, ease filing requirements for small businesses, and allow e-commerce suppliers to avoid multiple state registrations. He also calls for a single central GST registration for firms operating across states and, ultimately, a fully online, faceless assessment system. Today’s column stresses that sustained reform, not complacency, is essential.
Government policy debates often focus on designing the right industrial, technology, or financing policies, but successful implementation also depends on institutions capable of making sound investment decisions. Public systems provide accountability and process, while specialised investment committees can add market knowledge, judgement, networks, and continuity. Jayant Sinha points to India’s experience with SIDBI’s India Aspiration Fund and subsequent fund-of-funds initiatives, which used expert committees to channel public capital and catalyse private investment. He proposes globalising such committees by drawing on Indian diaspora expertise, while excluding active investors where conflicts may arise. Stronger institutional design, he concludes, can turn public capital into private capability.
India’s turbulent economic decade offers a useful backdrop for examining how corporations can survive repeated shocks. In The Art of Enduring, Saurabh Mukherjea and Salil Desai study five BSE500 companies, Bajaj Finance, Titan, Dr Lal PathLabs, Divi’s Labs, and Tata Elxsi, that weathered crises while generating strong returns. Reviewer Chintan Girish Modi explains how the authors use Sir John Kay’s four pillars of competitive advantage, innovation, brand, architecture, and strategic assets, to identify the sources of their resilience. Their examples highlight long-term planning, early investment, reliable relationships, regulatory discipline, and employee trust, though the book’s investment-related disclaimer warrants attention. The lessons could help revive corporate ambition.
India-US trade negotiations have reached a difficult stage, with further concessions from either side appearing increasingly hard. The urgency stems from Donald Trump’s focus on reducing US trade deficits through tariffs, with India’s $34-billion surplus presenting a particular challenge. Cutting this surplus could force India to shift imports from other countries to the US, even when that may be economically inefficient. The broader US goods trade deficit has also continued to rise despite tariffs, questioning the effectiveness of Washington’s approach. Today’s first editorial stresses that India should remain engaged with Washington while protecting its long-term interests and broader strategic relationship.
Maharashtra’s drought declaration across 265 talukas highlights the consequences of India’s deficient 2026 monsoon, which ended with rainfall 12.6 per cent below normal. Crop losses in soybean, cotton, tur and maize threaten farm incomes, food prices and rural demand, while depleted reservoirs could complicate irrigation and drinking-water supplies during the rabi season. Weak rainfall has affected hydropower generation, increasing dependence on coal amid supply pressures. Our second editorial calls for a comprehensive response, including prioritising water for essential needs, crop advisories, compensation for affected farmers, and investment in water-use efficiency. Maharashtra should reduce dependence on water-intensive crops such as sugarcane.
The GST Council’s 57th meeting should focus less on tax rates and more on simplifying procedures, improving compliance, and reducing bureaucratic discretion. After the sweeping rate rationalisation of September 2025, the proposed measures could ease business operations across sectors by streamlining registrations, speeding refunds, facilitating input-tax credit, reducing litigation, and simplifying compliance. A K Bhattacharya highlights measures that could curb arbitrary highway checks, ease filing requirements for small businesses, and allow e-commerce suppliers to avoid multiple state registrations. He also calls for a single central GST registration for firms operating across states and, ultimately, a fully online, faceless assessment system. Today’s column stresses that sustained reform, not complacency, is essential.
Government policy debates often focus on designing the right industrial, technology, or financing policies, but successful implementation also depends on institutions capable of making sound investment decisions. Public systems provide accountability and process, while specialised investment committees can add market knowledge, judgement, networks, and continuity. Jayant Sinha points to India’s experience with SIDBI’s India Aspiration Fund and subsequent fund-of-funds initiatives, which used expert committees to channel public capital and catalyse private investment. He proposes globalising such committees by drawing on Indian diaspora expertise, while excluding active investors where conflicts may arise. Stronger institutional design, he concludes, can turn public capital into private capability.
India’s turbulent economic decade offers a useful backdrop for examining how corporations can survive repeated shocks. In The Art of Enduring, Saurabh Mukherjea and Salil Desai study five BSE500 companies, Bajaj Finance, Titan, Dr Lal PathLabs, Divi’s Labs, and Tata Elxsi, that weathered crises while generating strong returns. Reviewer Chintan Girish Modi explains how the authors use Sir John Kay’s four pillars of competitive advantage, innovation, brand, architecture, and strategic assets, to identify the sources of their resilience. Their examples highlight long-term planning, early investment, reliable relationships, regulatory discipline, and employee trust, though the book’s investment-related disclaimer warrants attention. The lessons could help revive corporate ambition.
