... a watershed in exposing the murky dealings between business and politics.
I refer of course to the Satyam fraud disclosure. Will be a real test of any real or perceived Government commitment to reform - we've already heard the noises about this being an isolated incident and not tarring others with the same brush.
Unfortunately, our system has brought this on itself and the involvement of international courts will (hopefully) make preventing skeletons from tumbling out of the closet more difficult. If that does turn out to be the case, while the short term will be painful the longer term benefits could be substantial.
I heard a first hand account yesterday of the bullying of a publicly traded company that was looking to do business in the State in a manner that any society that claims to be free should consider totally unacceptable.
The integrity of our Prime Minister, also currently our Finance Minister, has fortunately never been questioned. This is the time when the Indian business and financial system needs real leadership, possibly more than ever before.
We need to move beyond continually demonstrating ourselves to be a high risk and cyclically high return economy and market ...