Reportedly the buzz around india this time around was missing. India's delegation (from the Centre) included a few bureaucrats, led by Railways and Commerce minister, piyush Goyal. Meanwhile days before leaving for Davos, Goyal slammed jeff bezos, founder and CEO of amazon boss, saying that he wasn't doing india any favours by announcing an investment of a billion dollars. Furthermore the Union minister was evidently trying to reach out to the trader vote base that forms the core of the BJP's constituency.
As per report traders across india are agitating by what they say are predatory practices and steep discounts being offered by e-retailers like amazon and Flipkart. Hence this illustrates the tight-rope the government seems to be walking as it attempts to balance its agenda of swadeshi with the need to attract foreign investment.
Moreover the glow of the india story seems to have dimmed and the Budget 2020 will have to set straight the narrative for its economics. The nationalistic fervour of the government-alluded to by billionaire investor George Soros has spilled over to its economics. In an attempt to give 'Make in India' a push, there have been import curbs placed on several commodities and goods, such as palm oil, pulses, iron and steel. Plus, the government has been contemplating curbs on electronic goods. Curbs on iron and steel have hurt automakers who have often complained of inconsistent quality and the inability to source high-grade steel locally.
