Talk Back

A reader in Bangalore, India, responds to Alex Frangos’s column “HEARD ON THE STREET: India’s Woes Make China Look Rosy”:

Good analysis by Alex. However, I have a somewhat different view on one point, which is increasing government spending.

India can’t afford to further increase its budget deficit. I think a better solution is to bring a fresh round of policy reforms, which are now long overdue. India needs to attract FDI, which would bring dollars and would ease some pressure off the rupee. Foreign investors’ confidence is at a low due to policy paralysis.

Some areas that immediately need reforms are FDI in multibrand retail, aviation and some other areas, a land acquisition bill, labor policy, and policy to attract private investment in infrastructure development. Infrastructure continues to remain poor and create supply bottlenecks.

(TALK BACK comments may well be submitted by readers who have a financial interest in securities that are being discussed.)

(TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at TalkbackAmericas@dowjones.com. Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments. Talk Back comments can be found under the N/TLK code.) Continue reading…

These are the personal views of Mike Splinter, president and chief executive officer of Applied Materials:

On the horizon is the next great global industry, and “American Power Act,” the climate and energy bill introduced by Sens. John Kerry (D., Mass.) and Joe Lieberman (I., Conn.), is an important first step in making this happen. If we make the right decisions today, the country can be the beneficiary of what I believe will be the biggest creator of jobs and economic development this century–energy technology– innovative technologies that will revolutionize the energy landscape. The proposed legislation would use market-based solutions to establish a price for the carbon we emit and drive a real commitment to renewable energy in this country.

These kinds of policies would help spur the energy technology industry in the U.S. and build the foundation of a long-term economic engine, much like the space program did for integrated circuits in 1960 when two government programs, the Minuteman missile and the Apollo space program, jump started today’s $300 billion semiconductor industry. They will help create scale, which will drive down prices, expand access and ultimately create a low-cost domestic energy industry that will solve the environmental, national security, economic challenges we face today.

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These are the personal views of Peter Morici, a professor at the University of Maryland’s Robert H. Smith School of Business and former chief economist at the U.S. International Trade Commission:

President Barack Obama is seeking to double U.S. exports and create 2 million jobs over the next five years. The new Commerce Department program to accomplish this goal is simply inadequate.

The Commerce Department initiative merely consists of redoubling existing efforts and not addressing the fundamental issues–the undervalued Chinese yuan and high tariffs, and other regulatory barriers that block U.S. exports in much of Asia.

Commerce Secretary Gary Locke is launching a program by increasing Export-Import Bank funding for small businesses from $4 billion to $6 billion; boosting Commerce Department personnel that assist exporters at U.S. embassies and consulates in China and India; and strengthening enforcement of trade laws and agreements. Continue reading…

MUMBAI (Dow Jones)–India’s Agriculture Ministry will send a team of experts to drought-hit areas to help increase the area under the upcoming winter crop and improve productivity, a government statement said Thursday.

Wheat is the main winter crop, sowing of which starts in October-November.

A dry spell during June and July has damaged crops such as rice, oilseeds and pulses, but the federal government is hoping late summer rains from mid-August will help improve the area and output of winter crops.

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