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OP-ED JULY 22, 2022 | The Indian Eye 14

Global rupee, global Indians

and big population

Views and opinions from the top commentators in Indian media

he Reserve Bank of India
(RBI) this week initiated mea-
Tsures to allow rupee settlement
of cross-border trade deals. It’s still
work-in-progress but the essence is
that Indian banks can act as custo-
dians of funds in international trans-
actions settled in rupees. These mea-
sures need to be located in the context
of the immediate need to cope with
developments in the foreign currency
market and the long-term opportuni-
ties present in the gradual shift in the
currency composition of global for-
eign exchange reserves.
Global commodity prices have
dipped since the level witnessed in
May. For India, this augurs well. The
average price of an Indian basket of
crude in July was $106, about 9% be-
low June. However, it has been par-
tially offset by the weakening of the
rupee against the dollar on account
of global reallocation of capital af-
ter prominent central banks started
increasing interest rates. Since Jan-
uary, foreign portfolio outflows have power under Tony Blair and Gordon trast with the sham controversy in the the fact that India’s employment fell
crossed $30 billion. In addition to Brown in the 2000s. And beyond pol- US over Barack Obama’s alleged- by a massive 13 million jobs in June
market intervention, RBI adopted itics, the UK has seen several black ly secret Muslim faith could not be 2022 compared to May. Data from
other measures to cope with the ru- and brown people gain prominence starker. the Centre for Monitoring Indian
pee depreciation. Last week, it liber- in sports, media, arts, medicine, and Economy show that over 60 per cent
alized forex inflows. Now, it’s provid- to a lesser extent in business. Nass- -- Ramesh Venkataraman, of the employable workforce are not
The Indian Express
ed a window to settle trades in rupees. er Hussain, born to a Tamil Muslim even looking for work, putting paid to
father in Chennai, captained the En- India’s hope of reaping rewards from
--Editorial, The Times of India Bane or boon?
glish cricket team as far back as 1999. its demographic dividend. The stress
The rise of Rishi What is truly remarkable about ndia is projected to surpass Chi- that a growing mass of unemployed,
the ongoing Tory party leadership na as the most populous country young people puts on the social fabric
he fact that the next British contest, however, is how little com- Iin 2023 — four years earlier than of the country must not be discount-
PM may be brown or black is ment there has been on the skin col- expected — according to the latest ed. Moreover, the share of the elderly
Tby itself perhaps not that re- or of the slate. The British political report of the United Nations Popu- in the Indian population is expected
markable. The last two decades have classes, media, and public at large lation Division. The imminent size of to steadily rise till at least 2036, strain-
seen Barack Obama, whose father seem intensely unconcerned about the population is intimately connect- ing India’s beleaguered healthcare
is Kenyan, being elected as the first the next occupant of 10 Downing ed to the power dynamics shaping the system. India is also one of the most
black President of the United States. Street being non-white. In a country relationship between nations — for vulnerable countries globally in terms
Kamala Harris, born to an Indian that is inextricably linked in many In- instance, the UN said that the rise in of the population that will be affected
mother and Jamaican father, was dian minds with an ugly history of rac- population will consolidate India’s by sea-level rise.
appointed the first black and woman ism, this is nothing short of astound- claim to a permanent seat in the Se-
Vice-President of the United States, ing. What is even more surprising is curity Council. It is, however, a dou- -- The Editorial Board,
The Telegraph (India)
and Leo Varadkar, whose father is that there is virtually no discussion ble-edged sword. This is because there
Indian, become Prime Minister of of the fact that the runners and rid- are several rising vulnerable constitu-
Ireland. The UK itself has had sev- ers left include a Hindu, a practicing encies in India’s population pie. India Every week, we look at what the top
eral senior members of government Buddhist with Hindu-Catholic roots, will have one of the largest workforc- commentators in the Indian media are
who are not white going back to the and, incredibly for a Tory party which es: globally, one in five working-age talking about and bring to you a slice
days of Paul Boateng and Shriti Vade- has in the past revealed a nasty seam persons will live in India in the next of their opinions and comments
ra when the Labour Party was last in of Islamophobia, a Muslim. The con- 25 years. But what queers the pitch is

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