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Uncertain times for India

Strategic and economic risks have risen to unprecedented levels

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Jaimini Bhagwati
US baseball legend Yogi Berra’s unintentional quips were hilarious. One of them is “it’s tough to make predictions, especially about the future”. At a briefing on February 12, 2002, referring to the situation in Iraq, the then US secretary of defence, Donald Rumsfeld, remarked “there are known-knowns … we also know there are known-unknowns. But there are also unknown-unknowns”. The accompanying table provides a sampling of imponderables India is facing. Guesses have also been made for the third column even though the heading of this column is “unknown-unknowns”.

Given the various uncertainties listed in the table, India’s top priorities have to
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper