Best of BS Opinion: Power politics abroad, policy choices at home

Here are the best of Business Standard's opinion pieces for today

Global markets saw a brief lift after US President Donald Trump appeared to temper his rhetoric on Greenland and European trade at the World Economic Forum in Davos. Yet the relief appears fragile, notes our first editorial. Canadian Prime Minister Mark Carney’s warning that the world is sliding back into unconstrained great-power politics captured the deeper unease beneath the market reaction. While Trump has cited missile defence and Arctic security, the US already operates major installations there through Nato and NORAD. Rare-earth minerals, vital for reducing dependence on China, appear to be the more decisive driver. Europe’s resistance to the US has become a test case for whether sovereignty can still act as a meaningful constraint. 

 

India’s power sector presents a different policy challenge. While shortages have been replaced by surplus capacity, near-universal electrification and rapid renewable expansion, the system remains financially fragile, highlights our second editorial. The Draft National Electricity Policy, 2026, and proposed amendments aim to address this gap. Distribution companies continue to carry over Rs 7.1 trillion in debt due to tariff delays, political pricing and cross-subsidies. Automatic tariff indexation, lower cross-subsidies and greater consumer choice are economically sound, but politically difficult. 

Meanwhile, Laveesh Bhandari argues that India’s problem is not policy design but spending priorities. He makes the case for concentrating public resources on defence, education and climate adaptation, while allowing other sectors to rely more on deregulation and private capital. Defence investment, he notes, now extends beyond arms to technology and personnel. Education, particularly at the school level, needs central intervention, while climate adaptation demands far greater state capacity. 

Pranjul Bhandari offers a measured reading of India’s growth outlook ahead of the Budget. Recent momentum, she notes, was supported by temporary factors that are now fading. The opportunity in 2026 lies in a formal-sector recovery and an investment-led cycle, with early signs in defence, electronics and power. A tight fiscal stance combined with easier monetary policy could support markets, but sustained growth will require predictable regulation and trade openness. 

Finally, Sanjay Kumar Singh reviews Anne-Laure Le Cunff’s Tiny experiments, a book that makes an argument for an experimental approach to work and careers. Rejecting rigid, linear paths, Cunff advocates small, low-risk trials to discover what sustains curiosity and focus. Success, she argues, lies in learning rather than outcomes. The book makes a practical case for adaptability in a labour market where certainty is increasingly scarce. 

Stay tuned!