Rating impact
The market volatility reflected in the recent moves in the Sensex and Nifty generally reflects reality. But one area that will take longer to absorb positive indicators is the ratings of India and Indian institutions by international agencies.
One might have ignored it were it not for its impact on external borrowing costs and the value of India’s currency. It’s time to set up a global ratings agency based in India.
MG warrior
mumbai
Online troubles
Your editorial “Playing with Patterns” is timely. Shopping online has become easy, but so has deceiving consumers. There is also no licensing or monitoring system for online sales.
Even opening a small shop requires documents and is strictly adhered to by many authority regulations. But one can sell medicines even through online mode. Therefore, it is time for the government to regulate this industry.
Rajmohan
ananathapur
Gati Shakti Initiative
This is in reference to the article “The World Bank must revisit India’s logistics rankings”. The government believes that the Logistics Performance Index (LPI), a biennial index used by the World Bank to assess countries’ ease of trade, is purely “perception-based” and “narrow”. Earlier this year, in the seventh edition of LPI 2023, India moved up six spots to 38th out of 139 countries.
India wants the World Bank to take into account the various initiatives taken by the government in logistics, such as the GatiShakti initiative, while determining the logistics rankings of countries. India has started engaging with key World Bank officials to draw their attention to the emphasis on a goal-based ranking approach.
We hope our rankings will improve, and they will only improve if such reforms are reflected in reality and facts. We want to show these and it (the World Bank) should take these into account when determining our rankings,
S Mutulakshmi
virudunagar
Carbon tax challenge
As far as the “countdown to EU carbon tax begins” (September 15), the Carbon Border Adjustment Mechanism (CBAM) is a tariff levied on carbon-intensive products imported into the EU.
The tax is designed to ensure that imported goods bear the same carbon cost as products produced within the EU. The implementation will begin in October 2023, and as a prelude will require exporting countries to provide product carbon emissions data and have strict compliance rules.
The government must provide ministerial help to exporters to send the required data and help them retain exports to the EU by paying the required carbon tax.
Nagarajan
sivakasi
Errata
The title of the Gurpreet Chhatwal interview published on September 15, 2023 refers to him as Managing Director of Crisil. Chhatwal is the Managing Director of Crisil Ratings. The mistakes made are regrettable.
