Saturday, 30 November 2024

India's Strategic Opportunity: Seizing the MAGA and China+1 Moment

The global economic and political landscape is undergoing a transformative shift. As nations recalibrate their strategies in response to geopolitical tensions, economic nationalism, and pandemic-induced supply chain disruptions, two significant philosophies have gained prominence: the United States' "Make America Great Again" (MAGA) initiative post Donald Trump's victory and the global "China+1" strategy. For India, these developments present a once-in-a-generation opportunity to cement its position as a critical player in the global supply chain and geopolitical order.

Understanding MAGA and China+1 

MAGA, popularized as a domestic revival strategy, prioritizes reshoring critical industries, friend-shoring with trusted allies, and reducing reliance on adversaries like China. While the U.S. aims to create jobs and secure supply chains, it also seeks to collaborate with partners who can supplement its industrial and technological needs.

China+1 emerged as a pragmatic approach for companies seeking to diversify manufacturing bases beyond China, driven by rising labor costs, geopolitical risks, and the imperative to hedge against single-country dependencies.



Why India? The Sweet Spot in a Global Realignment

1. A Reliable Partner for Diversified Supply Chains

India's burgeoning economy, with a GDP projected to grow at 6-7% annually, coupled with its large workforce of over 500 million, provides an attractive alternative to China. Policies like the Production Linked Incentive (PLI) scheme, covering sectors from electronics to pharmaceuticals, have already attracted investments from global giants such as Apple, Samsung, and Foxconn.

  • Data Point: India’s electronics exports surged by 50% in FY 2022-23, reaching $24 billion, reflecting its growing role in global supply chains.
  • Opportunity: By aligning with U.S. firms seeking to relocate or diversify under MAGA, India can amplify its role in critical sectors like semiconductors, EV batteries, and pharmaceuticals.

2. Strategic Technological Alliances

MAGA emphasizes technological dominance, particularly in areas like semiconductors, AI, and defense. India’s Digital India and Atmanirbhar Bharat initiatives resonate with this vision, focusing on self-reliance and innovation. India’s IT sector, which generated $245 billion in revenue in 2022-23, offers a robust foundation for co-developing technologies with U.S. firms.

  • Example: The U.S.-India Initiative on Critical and Emerging Technology (iCET) launched aims to enhance collaboration in semiconductors, space, and defence technology.
  • Opportunity: As U.S. companies seek reliable partners for R&D and production, India’s engineering talent and competitive costs can serve as a pivotal asset.

3. A Stable Geopolitical and Economic Landscape

India’s democratic framework and geopolitical neutrality make it a preferred partner amidst the U.S.-China rivalry. By leveraging its strategic position within alliances like QUAD and the Indo-Pacific Economic Framework (IPEF), India can deepen its economic and security ties with the U.S. and its allies.

  • Data Point: FDI inflows into India reached a record high of near about 100 B $, a testament to its growing appeal as an investment destination.
  • Opportunity: India can position itself as a trusted partner for countries seeking to reduce reliance on authoritarian regimes, particularly in critical sectors like defense and energy.

Sectoral Opportunities for India

  1. Electronics Manufacturing
    India’s mobile phone exports crossed $11 billion in FY 2022-23, with Apple alone accounting for 50%. By further enhancing ease of doing business and skilling its workforce, India can capture a significant share of the global electronics market.

  2. Green Energy
    India’s ambitious target of achieving 500 GW of renewable energy capacity by 2030 aligns with MAGA’s focus on green jobs and sustainability. Collaborations in solar module manufacturing and green hydrogen production can mutually benefit India and the U.S.

  3. Pharmaceuticals and Biotechnology
    As the world’s largest producer of generic drugs, India can play a critical role in MAGA’s goal of securing medical supply chains. Investments in biotech R&D can further bolster this sector.

  4. Defence and Aerospace
    India is focusing on indigenising production under Atmanirbhar Bharat. Joint ventures with U.S. firms under MAGA could lead to the co-development of advanced systems, reducing dependence on imports.

    Challenges and the Path Forward

    Despite its potential, India must address several bottlenecks to fully capitalize on these opportunities:

    • Infrastructure Deficit: Rapidly upgrading logistics, ports, and power supply is critical.
    • Policy Stability: Consistent and transparent policies are essential to sustain investor confidence.
    • Skilling Workforce: Bridging the skill gap through vocational training and upskilling initiatives is vital to meet global standards.

    India must also navigate the fine line between deepening ties with the U.S. and maintaining its STRATEGIC AUTONOMY, particularly in its relations with China and Russia.


    A New Dawn for India

    The convergence of MAGA and China+1 philosophies offers India a historic chance to redefine its role in the global order. By positioning itself as a trusted, resilient, and innovative partner, India can not only accelerate its journey towards becoming a $5-10 trillion economy but also emerge as a cornerstone of global stability and prosperity.

    India’s rise is not just a possibility—it is an imperative for a multipolar world seeking balance and resilience. The question is not whether India can seize this moment, but whether it will act swiftly and decisively enough to claim its rightful place in the new global order.


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Tuesday, 29 October 2024

Strengthening the Skies: Why the C295 (Make In India) Completes IAF's Tactical Fleet requirement.

Despite the Indian Air Force's powerful fleet of C-17 Globemaster III and C-130J Super Hercules for heavy and medium-lift operations, the induction of the C295 is crucial to meet the IAF's diverse operational demands. The C-17 is ideal for strategic long-haul missions, such as heavy cargo and troop transport over large distances, while the C-130J provides tactical support for medium-range missions with short takeoff and landing capability. However, there is a persistent need for a smaller, more versatile aircraft to operate from remote and austere locations for missions like humanitarian aid, disaster relief, and troop deployment within short and challenging airstrips—where neither the C-17 nor C-130J is optimal.

The C295 fills this gap with its ability to transport light-to-medium cargo, deploy paratroopers, and carry out medical evacuations over shorter distances, making it a highly adaptable tactical airlifter.

Moreover, the indigenous Make-in-India production of the C295, in collaboration with Airbus and Tata Advanced Systems, represents a milestone in India's aerospace manufacturing capabilities. The project will see final assembly of the C295 in India, boosting local manufacturing, creating skilled jobs, and reducing dependency on imports. This aligns with India’s goal to strengthen domestic defence production, empowering the IAF with more flexible, homegrown solutions to meet its strategic and tactical needs.

The C295 deal between India and Airbus is a landmark agreement, both for enhancing the Indian Air Force’s tactical transport capabilities and for advancing the Make-in-India initiative. The key terms and details of the deal:

  1. Total Contract Value: The deal is valued at approximately INR 21,935 Crores worth for the supply and production of 56 C295 aircraft for the Indian Air Force.

  2. Aircraft Delivery: The first 16 aircraft will be manufactured in Airbus’s facilities in Spain and delivered to India in a “fly-away” condition. These will be delivered within 48 months of signing the contract.

  3. Make-in-India Production: The remaining 40 aircraft will be assembled in India by Tata Advanced Systems Limited (TASL) in partnership with Airbus, marking the first time a full transport aircraft will be manufactured in India by the private sector. This local production is expected to be completed within ten years.

  4. Maintenance, Repair, and Overhaul (MRO): The deal includes provisions for establishing an MRO facility in India, which will not only support the Indian fleet but also potentially cater to C295 operators in the Asia-Pacific region.

  5. Technology Transfer: Airbus will provide full technology transfer to TASL, enabling the Indian company to undertake a significant portion of the assembly, testing, and delivery of the aircraft locally. This includes advanced avionics and critical aircraft systems.

  6. Indigenous Component Production: The deal mandates a gradual increase in indigenous content in the production process, meaning that Indian-made components and subsystems will be integrated into the aircraft over time, enhancing India’s self-reliance in aerospace manufacturing.

  7. Employment Generation: The project is expected to create about 15,000 skilled jobs directly and indirectly, fostering local employment and contributing to the development of India’s aerospace and defense manufacturing ecosystem.

  8. Optional Future Orders: The contract also includes options for future orders beyond the initial 56 units for the Indian Air Force, allowing the Ministry of Defense to procure additional C295s for the Indian Army, Coast Guard, and other defense sectors if required.

This deal not only strengthens the Indian Air Force's medium-lift transport capabilities but also aligns with India's ambitions for greater self-reliance in defence manufacturing, facilitating technology transfer and fostering a robust aerospace ecosystem.


# Vadodra facility Pic- Spain & Indian PM:


# Brief specifications of C295 vis a vis C17 & C130J showing how C295 fills the tactical gap :







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Thursday, 10 October 2024

Beyond BALANCE SHEET : That's SHRI RATAN NAVAL TATA for you ...
















When we think of great business leaders, it is often the balance sheet that tells the story. Numbers, acquisitions, and profits dominate the narrative. But in the case of Shri Ratan Tata, the Chairman Emeritus of Tata Sons, who just left towards his heavenly adobe, his legacy transcends mere financial performance. His story is not only one of corporate triumphs but of compassion, vision, and a deep commitment to nation-building. Shri Ratan Tata has demonstrated time and again that leadership is about more than the bottom line—it’s about values, humanity, and the willingness to go "beyond the balance sheet."

Compassion Over Prestige: Missing Buckingham Palace for His Pets

One of the most telling anecdotes that captures Ratan Tata's deep empathy happened when he declined an invitation to Buckingham Palace. The prestigious event was a royal dinner, an opportunity to dine with the royal Prince Charles, most would consider a once-in-a-lifetime privilege. However, Shri Tata chose not to attend, citing the ill health of his beloved pets (dogs- Tango & Tito ) as the reason.

For him, this was not a frivolous excuse. It was a reflection of his priorities. His decision to stay home with his ailing dogs, rather than attend a glittering royal ceremony, speaks volumes about the man. Despite his stature as a global business icon, Tata’s life has always been guided by empathy and loyalty, even to the most vulnerable beings. This anecdote stands as a testament to the fact that for Shri Ratan Tata, relationships, whether human or animal, always come first. His actions show that success is not measured by the prestigious events one attends, but by the moments where compassion takes precedence.

The Bold Acquisition of Jaguar and Land Rover

In 2008, amidst the global financial crisis, Shri Tata made a daring decision—Tata Motors acquired the iconic British brands Jaguar and Land Rover (JLR) from Ford. Many questioned the wisdom of this move, given the fragile state of the global auto industry at the time. But his confidence in the inherent strength of the brands and his willingness to back the skills and potential of the workforce turned this acquisition into one of the most celebrated corporate turnarounds in history.

His leadership during this acquisition was not only a triumph of business acumen but also a testament to his belief in sustainable, long-term growth. Under his guidance, JLR flourished, returning to profitability and expanding into new markets. His approach was not driven by a desire for quick profits but by a genuine belief in the value of the brands and their ability to grow with the right stewardship. The acquisition of JLR symbolised Shri Tata’s philosophy of combining global aspiration with local respect—a hallmark of his business style.

Institutions for the Nation: TISS, IISC, TIFR, and Cancer Institutes

Ratan Tata’s influence is not confined to the corporate boardroom. His family’s legacy of nation-building through philanthropy, especially in the fields of education and healthcare, continues under his stewardship. The Tata Group’s contributions to institutions like the Tata Institute of Social Sciences (TISS), Indian Institute of Science (IISC), Tata Institute of Fundamental Research (TIFR), and Tata Memorial Cancer Hospitals demonstrate a commitment to empowering future generations.

These institutions are a testament to his understanding of the role that education, research, and healthcare play in shaping a country’s future. TISS has produced some of the finest social workers and public policy experts, while IISC and TIFR have driven India’s scientific advancement. Tata Memorial Cancer Hospitals have provided care to countless cancer patients, embodying his belief in accessible healthcare for all.

In a country striving to become a global leader, his focus on creating world-class educational and healthcare institutions underscores his belief that long-term societal progress cannot be achieved through business success alone. His legacy here is one of intellectual empowerment and national service.

Compassion for Stray Dogs and Small Animal Hospital

Shri Tata's compassion extends far beyond the corporate and philanthropic realms. He is a known advocate for animal welfare, with a special fondness for stray dogs. He was the one who allowed free unrestricted entry of stray dogs at TAJ Palace. His social media presence frequently highlighted his empathy for animals, and he has even supported initiatives like the setting up of a small animal hospital in Mumbai. His involvement is not merely symbolic; he actively engages in efforts to improve the conditions of stray animals, advocating for their well-being and supporting causes close to his heart.

In a world where business leaders are often seen as detached, driven by profits and bottom lines, his compassion for animals reflects a different kind of leadership—one that values kindness and empathy as much as success. His decision to support animal welfare initiatives shows that leadership can be inclusive of all life forms, no matter how small or seemingly insignificant.

Leadership in Crisis: Decisions Post 26/11 Mumbai Attacks

Perhaps one of the most poignant chapters in Shri Ratan Tata’s life was his response to the tragic 26/11 Mumbai terror attacks in 2008. The Taj Mahal Palace Hotel, owned by the Tata Group, was one of the primary targets. Instead of retreating into the comfort of his corporate office, Tata personally visited the site, engaging with the hotel staff and the families of those who had lost their lives. His presence and words offered solace, and his commitment to rebuild the hotel as a symbol of resilience made a profound impact on the country.

He ensured that the employees and their families were taken care of in the aftermath of the attacks, providing financial support, medical care, and counselling services. His leadership during this crisis was not about public relations—it was deeply personal. His actions reflected a belief that corporations are responsible for the communities they serve, especially in times of crisis.

By focusing on healing and rebuilding, rather than merely the financial damage, Shri Ratan Tata exemplified the kind of leadership that prioritises people over profits. His response to 26/11 underscored his deep sense of responsibility not just as a business leader but as a citizen of India.

A Legacy Beyond Wealth

Shri Ratan Tata’s life and leadership transcend the traditional metrics of business success. His decisions, whether acquiring iconic global brands, supporting national institutions, or caring for stray animals, have always been guided by a sense of responsibility to society at large. His leadership style combines humility with vision, compassion with boldness, and a commitment to long-term, sustainable growth over short-term gains.

Through these anecdotal reference, we see that he is much more than a business magnate. He is a leader who understands that true success lies not only in building empires but in creating a better world for future generations. He is the man who redefined the essence of BOTTOM LINE in corporate governance, from NET INCOME towards NET DELIGHT for the bottom of the pyramid(workers/employees/customers/animals/citizens).

Beyond the balance sheet, he leaves behind a legacy of values, compassion, and an enduring belief in the power of human potential. 

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Sunday, 6 October 2024

Redefining Global Credit: CareEdge Puts India on the Sovereign Rating Map :

India-based CareEdge Global IFSC Ltd will now issue sovereign ratings for global economies, marking a major milestone for Indian rating agencies. The first report assigns sovereign ratings to 39 countries, including a 'BBB+' rating to India, recognising its post-pandemic growth and infrastructure focus. K. Rajaraman, IFSCA Chairperson, views this initiative as an opportunity for India to shape its own global economic narrative. CareEdge's methodology analyzes economic structure, fiscal strength, and governance quality to provide transparent assessments, challenging the dominance of Western agencies like Moody's and Fitch.


Below is a brief outlook of what are the concerns/deliberate distortions by these existing SOVEREIGN RATING AGENCIES, their operating modulus and the UGLY NEXUS arising out of it, thereby ushering towards large GEO-POLITICAL & STRATEGIC ramifications. Therefore need to purview INDIA from INDIC lenses is the need of the hour rather than trying ourselves to FIT IN into an alienated system.








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Thursday, 3 October 2024

Sunday, 8 September 2024

Speculation vs. Stability: The Need for Vigilance & Continuous Reform in India's Financial Market :

In recent years, India’s capital markets have experienced remarkable growth, marked by record-breaking Initial Public Offerings (IPOs), increased retail participation, and a surge in foreign investments. While these trends signify a growing financial sophistication, there is an underlying challenge that threatens to undermine the stability and inclusiveness of India's economic growth: the excessive financialization of capital markets. This phenomenon, where financial activities increasingly dominate over productive investments, poses significant risks not only to India but also to the broader global economic landscape.

Financialization: A Double-Edged Sword

Globally, financialization has reshaped economies by allowing for greater capital flows, innovation in financial products, and enhanced market liquidity. However, it has also led to several challenges. The 2008 global financial crisis was a stark reminder of the dangers of unchecked financialization, where excessive speculation in complex financial instruments, such as subprime mortgage-backed securities, led to a catastrophic collapse of financial markets, triggering a global recession. According to the World Bank, the crisis wiped out nearly $14 trillion in financial assets worldwide, and the global economy shrank by 1.7% in 2009, the deepest recession since World War II.

In emerging markets like India, the effects of such global crises are magnified. The 2008 crisis led to a sharp depreciation of the Indian rupee, capital flight, and a slowdown in GDP growth to 3.1% in 2008-09, down from 9.8% in 2006-07. This highlights the vulnerability of an overly financialized economy to global shocks.

The Indian Context: Signs of Excessive Financialization

India is witnessing its own version of financialization. The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) have seen exponential growth in market capitalization, which reached a combined $3.5 trillion by the end of 2023. However, much of this growth has been driven by short-term speculative trading rather than long-term investments in productive sectors. High-frequency trading (HFT), algorithmic trading, and increased derivatives trading have become dominant features of the Indian capital markets, contributing to higher volatility and market fluctuations.

For example, the daily average turnover in India’s cash equity market rose to over ₹70,000 crore ($9 billion) in 2022, a 25% increase from the previous year, while the derivatives market turnover exceeded ₹100 lakh crore ($1.3 trillion) daily, making it one of the largest globally. Such rapid growth is not necessarily a sign of a healthy economy; rather, it reflects a shift towards speculative trading, driven by a quest for quick profits.

Challenges of Excessive Financialization in India

  1. Market Volatility and Asset Bubbles: The surge in retail participation, often driven by speculative motives, has led to increased market volatility. For instance, the volatility index (VIX), which measures market risk, has frequently spiked above 25 in recent years, indicating heightened uncertainty. The dramatic rise and fall of stocks like Zomato, which saw a 65% jump on its IPO debut in July 2021 but then faced a series of declines, is symptomatic of speculative bubbles that can quickly burst, causing financial distress to millions of retail investors.

  2. Misallocation of Capital: Excessive financialization diverts capital from productive sectors like manufacturing, infrastructure, and MSMEs (Micro, Small, and Medium Enterprises) to financial markets. The MSME sector, which contributes around 30% to India’s GDP and employs over 110 million people, has been starved of credit. As of March 2023, bank credit to the industrial sector grew by a meager 1%, while personal loans (including credit cards) grew by over 15%. This reflects a preference for speculative activities over investments in sectors that drive real economic growth and job creation.

  3. Increased Systemic Risk: The rapid growth of Non-Banking Financial Companies (NBFCs) in India is another sign of financialization. While NBFCs play a crucial role in extending credit to underserved segments, their unchecked growth and reliance on short-term wholesale funding pose systemic risks. The collapse of IL&FS in 2018, a major NBFC, due to excessive leverage and poor asset quality, triggered a liquidity crisis in the financial markets, demonstrating how vulnerabilities in one segment can quickly spread throughout the financial system.

  4. Inequitable Wealth Distribution: The benefits of a financialized economy are often concentrated among a small segment of the population. According to Oxfam, the top 1% of India’s population holds more than 40% of the country's wealth, while the bottom 50% hold less than 3%. Stock market gains have primarily benefited wealthy individuals and large institutional investors, further exacerbating wealth inequality in a country where millions still live below the poverty line.

  5. Regulatory Challenges: The pace of financialization has outstripped the capacity of Indian regulators like the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) to monitor and control systemic risks effectively. The proliferation of complex financial products and the rapid growth of speculative activities make it challenging to maintain market integrity and protect investors, especially retail participants who may lack the knowledge and resources to navigate these risks.







The Global Ripple Effect

India's financialization is not occurring in isolation; it is intertwined with global capital flows. Foreign Portfolio Investments (FPIs), which stood at ₹1.6 lakh crore ($20 billion) in 2022-23, play a crucial role in Indian capital markets. However, this reliance on FPIs makes the Indian markets vulnerable to sudden capital outflows driven by global factors like changes in U.S. Federal Reserve policy or geopolitical tensions. A mere hint of a rate hike by the Fed can cause a significant outflow, leading to currency depreciation and market downturns, as seen during the "taper tantrum" of 2013. Moreover, excessive financialization in developed economies has global repercussions. For instance, the rise in interest rates in the U.S. and Europe can lead to a tightening of global financial conditions, which adversely affects emerging markets like India by increasing borrowing costs and reducing capital inflows.

A Balanced Approach for Sustainable Growth

To mitigate the challenges of excessive financialization, India must strike a balance between promoting financial sector growth and ensuring that it serves the broader economic good. Here are a few policy recommendations:

  1. Strengthening Regulatory Frameworks: SEBI and RBI need to enhance their regulatory frameworks to keep pace with market innovations. This includes stricter oversight of complex financial instruments, tighter regulation of NBFCs, and enhanced monitoring of high-frequency and algorithmic trading, through initiatives like- Circuit breakers (trading Haults) & Latency floors by SEBI.

  2. Promoting Long-Term Investments: Policies that incentivize long-term investments in sectors like infrastructure, manufacturing, and MSMEs are essential. This can include tax incentives, easier access to credit, and reducing the cost of capital for productive sectors like PM Mudra, 50 yrs interest free loans to states in the Budget.

  3. Enhancing Financial Literacy: A significant portion of retail investors in India lacks the financial literacy required to navigate increasingly complex markets. Initiatives to improve financial education and promote responsible investment practices are critical to protecting retail investors from excessive risk-taking like Retail Direct Scheme - RBI 

  4. Encouraging Financial Inclusion: Financial sector growth must be inclusive. Efforts should focus on expanding access to financial services in rural areas, supporting small and medium enterprises, and ensuring that capital flows benefit all segments of the population, not just the wealthy few.

  5. Managing Global Dependencies: India must also reduce its over-dependence on foreign portfolio inflows by encouraging domestic savings and long-term investments from Indian households and institutions.

The path forward for India lies in harnessing the benefits of financialization without succumbing to its excesses. A well-regulated, transparent, and inclusive capital market can support economic growth, innovation, and wealth creation. However, unchecked financialization, driven by short-term speculation and excessive risk-taking, can destabilize markets, increase inequality, and undermine long-term growth prospects. As India continues to integrate with global financial markets, it must remain vigilant against the perils of excessive financialization, thereby overshadowing real economic fundamentals, drawing lessons from both its own experiences and those of the world.  

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Thursday, 29 August 2024

The Fourth Estate as Agenda-Setter: Media’s Rising Influence on Government Priorities :

Agenda Meeting Images – Browse 218,763 Stock Photos, Vectors, and Video |  Adobe Stock

Agenda setting forms a very nascent part of Public Policy formulation. The very word "Agenda Setting" itself inclines/depicts the sheer top-down model. 

Now, as our media, per say has evolved from its traditional form ( Doordarshan times, AIR) to the present form of live-instantaneous reporting kind ( ANI, PTI, twitter, media, etc). The entire contour of agenda setting by the government has changed in multifaceted terms - 

1.Feedback is now instantaneous ( negative eg.- Lateral entry- within hours , the agenda felt down/modified the agenda itself // positive eg.- WAQF bill sent to JPC got applaud immediately,EWS reservations & LPG subsidy give away program got a go-ahead from all circles. ) 

2.Accountability is circular now - ( as soon as the gov brought in the agenda of UCC - all the stakeholders - started giving their take on it ).

3.Demand of the New Agendas itself started across the sectors - thus bottom up centricity - eg. NIRBHAYA amendment in the laws case// PLI scheme push forwarded from industrial group like SIAM etc// MSP demand along with a committee established to look into it came into the picture after the extensive all round coverage from media ( through twitter, broadcasting media, newspapers, live debates, etc ) and thus the agenda of bringing "New farm laws" was taken back.

This high entropic environment created by the bombardment of medias ( in various facets as well as in various linguistic groups - like u have not just AAJ TAK now, but UP TAK, Bihar TAK, etc. ) is a double edged sword.


On one end it has all the benefits - like Stakeholder decision making // faster redressal of grievances ( twitter - railway grievances)  reducing the overall time of collecting of feedback etc.


At the other end - this very nature of emerging unregulated media can derail the governance process itself. It has the power to create anarchy through falsified informations, more prominently in the age of AI. Examples of incidents like- Tuticorin plant issue reported in a falsified manner, Cambridge Analytica, Pegasus). This can be a potent tool to set the agenda of other deep states as in the name of GOI.


Remember MEDIA has got the power of amplification of the discourse at large which has eventually made the government in a reactive mode instead of the responsive mode earlier.


Therefore, require a healthy democratic climate for all kinds of media to breed and raise issues with full fervour but at the same time need to bring a Law enacted ( with proper legislative scrutiny) to curb its wrong usage ( Like PIB FACT CHECK / BROADCAST BILL ). There is a dire need to re-strategize the entire cadre of IIS OFFICERS. They can do a great service in this regard.


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Preliminary Report @ AIC 171 Crash - Raises More Questions Rather Than Answering !!

( Report can be accessed here - https://aaib.gov.in/What's%20New%20Assets/Preliminary%20Report%20VT-ANB.pdf  ) The preliminary report on...