Bleeding Markets, A Sinking Rupee And The Silence Of The Lambs |
India, today, presents a troubling contradiction. We speak endlessly of becoming a global manufacturing hub, a developed economy within two decades, and a major technology power. Yet, beneath the slogans and speeches, lies growing unease across markets, businesses, and investors.
Markets have been under pressure for almost two years. The rupee continues to weaken. FIIs are pulling money out at worrying speed. Corporate earnings have disappointed across several sectors. Amid global uncertainty and geopolitical tensions, citizens are being advised to exercise austerity.
But at perhaps the most critical economic moment in recent years, one constituency remains curiously muted: the industry associations.
These bodies were created to represent industry interests and act as institutional bridges between policymakers and the productive economy. They were not created merely to host conferences, networking events, and award ceremonies. Their real mandate is far more serious: to improve India’s business environment, strengthen competitiveness, and ensure that investment and enterprise can flourish.
That responsibility today demands honesty. And honesty requires acknowledging that the Indian business environment is becoming steadily more difficult.
Businesses today face a maze of approvals, registrations, filings, audits, inspections, and reporting obligations across taxation, labour laws, environmental rules, land approvals, customs, corporate compliance, financial regulation, data rules, and sector-specific regulations. Even large companies with sophisticated legal teams struggle to navigate the system efficiently. For startups, exporters, and MSMEs, the burden is often debilitating. Every year brings new reporting requirements, new procedural expectations, new portals, and new........