Journal Press India^®

Todays’ global economic environment appears to be very dismal with two things looming in the background – Covid-19 and the US-China Cold War. Given the atmosphere of the political economy it is important to maintain the tempo of objective research. In this context, ‘Dragon versus Elephant: A Comparison of Pattern of Agriculture in Two Asian Economies - China and India’ by Archana Bakshi and Kanwaljit Kaur is a refreshing piece that observes that ‘China’s prudent agricultural policy with due focus on R&D, increased FDI for development of rural infrastructure, organic farming and use of biotechnology was primarily responsible for its supremacy in agricultural scenario’.

As a sequel to demonetisation, Sharif Mohd. and Ram Pal carry out an analysis based on a survey of consumer behavior called ‘Moving from Cash to Cashless: A Study of Consumer Perception towards Digital Transactions’. The study found that the major problems that arose in the cashless economy, namely are lack of security, poor network connectivity, illiteracy and problems in making small payments. Moreover, there is less awareness of the latest modes of digital payments.

In the context of the digital era another paper talks of Managing ‘Knowledge’ in India: A Higher Education Perspective, written by Shikha Aggarwal, Ajay K. Mandil and Richa Banerjee. Some of the main findings are that the factors for managing knowledge are ‘technological, human or personnel factors, senior management factors and organizational factors’. The paper by Priyanka Maity and Swati Sharma also deal with the digital aspect through their paper on ‘Blockchain Technology in Coffee Industry in India’. The paper concludes that while blockchain technology is intended to improve the price and value chain but in the case of coffee industry in India, many dimensions of problems facing coffee industry are not addressed.

Another aspect of Indian economy that needs to be considered is the hospitality sector, especially, after Covid-19. In this regard a paper on ‘MICE Tourism in India: Powerhouse of New Era’ by Rajeev Ranjan Mishra, highlights the evolution of MICE tourism and investigates its future prospects in India.

In recent times, the external sector has emerged as the most important sector. Here, Vasudha Gupta and Priyanka Chawla have contributed in the form of ‘International Trade and Its Impact on GDP: The Case of India’. The authors mention that the results of the study would help the policymakers in understanding how much these independent variables are responsible for affecting the economic growth in India.

In another contribution Sunil B. Kapadia has raised the issue of ‘Are education, human development and economic sustainability interconnected?’ The broad conclusion is that ‘The common belief on the fragile or petty role of subordinate and top-level pedagogy in development is not reasonable and that post-primary education is crucial for the mitigation in deprivation and new born deaths, in uplifting life hope, and for financial inclusion and expansion’.

There are two studies on varied subjects like ‘Turnaround Strategy for Air India’ by Aditi Agrawal, Suvasini Sherchan and Saumya Aggarwal, as well as, ‘Income and Consumption Pattern in the Slum Area of Siliguri Municipal Corporation: A Comparative Study of Inner and Outer Slum Dwellers’ by Madhumita Das and Kanak Kanti Bagchi. These case studies highlight the need for micro-level studies that would help in revival of the ailing Indian Economy.

The imminent recession, which has set in, provides fertile ground for more such studies as outlined above. There is an urgent need to introspect and research into various aspects of Indian Economy at this stage and come with possible policy recommendations.

Stay safe! Plan and hope for the revival of the Indian Economy.

Prof. K. V. Bhanu Murthy

         Editor