And for a Friday …. as the IGCC delegation to Germany gets underway ……. some thoughts…. some musings ….
The Indo German Chamber is celebrating its 70th year of continuous contribution to strengthening Economic ,Social & Cultural relationships between Germany & India ……this foreign visit comes in the backdrop of the severe Geopolitical tensions & travel uncertainties …. consequent to the ongoing US-Iran war … & the uneasy Truce ……its more than a decade since I retired as CMD of BASF … & amongst many roles in various Boards …. my association with IGCC has continued uninterrupted for almost three decades …….every year we join the delegation to Germany & at the end of which we take also a short holiday to some other European destination …… it’s been a dilemma this year ….. can we travel ??? … should we travel ?? ….. but since all arrangements made & paid for 6 months in advance from my retirement funds …. we decided to take the plunge ….. & keep our commitments.
There is no doubt that India is badly suffering collateral damage of the West Asia crisis ….. particularly the closure of the Strait of Hormuz thru which most of our supplies of Crude & cooking gas reaches from the Gulf countries ……. Crude basket skyrocketing from 65$s a barrel to 113 has put huge pressure on our currency …… balance of trade & Inflation expectations ….hence I am a strong votary …… & support the decision to substantially reduce avoidable imports …… & conserve foreign exchange in the immediate three quarters …. till the crisis blows over …… Gold is one item we must avoid imports …. let’s recirculate available old Gold with us ….. also …..as a step from my side …..I have suspended my SIP in Gold ETF.
Notwithstanding the current crisis …. India’s Macro growth story is absolutely intact & we will be the fastest growing large economy ….. let’s all support Nation building ….. the involved way ….. the prudent way ….. the SEEGOS way.