Euro Zone

Association of South-East Asian Nations (ASEAN)

South Asian Association for Regional Cooperation (SAARC)

South American Free Trade Agreement (SAFTA)

Shanghai Cooperation Organization (SCO)

Asia Pacific Economic Cooperation (APEC)

G8

Organization of Petroleum Exporting Countries (OPEC)

RBI's Strategies for a Super Power India

A more robust and prudent monitory policy

Market driven monitory system

Banking sector reforms

Allowance to private and foreign banks (removing the cap on FDI in Banking sector)

Strong vigilance and regulatory mechanism

Interest rate and currency exchanges wherein derivative trading on currencies and interest rates would be allowed. This is very important to provide a platform to all participants to hedge (minimize) their risk from fluctuations in interest rates and currencies.

Investment in Indian market rather than US Treasury Bills, which gives a very less return and in turn strengthens US economy, and not Indian economy.

These are few very basic steps that can yield very good results in order to achieve our strategic objective and so called VISION 2020. There is a very strong India in the offing. Are we ready to give it a way? Are we ready to give it a trial?

Concluded.

* Contributed by: -
Prem Kumar (Finance) & Manvendra Pratap Singh (Marketing),
ICFAI Business School, Hyderabad.