Comments on: We need FDI in everything EXCEPT…..

By: Suresh

Suresh — Tue, 30 Oct 2012 18:46:46 +0000

Sir
GIC is happy when Chubb comes to India – it helps improve underwriting standards and as the national reinsurer GIC gets better premium. A 5 crores liability policy fetched 30-40,000 pre Chubb/AIG , now fetches 100,000.
The customer is happy because some one knows how to handle claims.
The other PSUs also benefit from improvement in market standards. Win -Win.
Now, Lombard is another story altogether…
Howzzat for bias !!!

By: subra

subra — Fri, 26 Oct 2012 15:49:59 +0000

Change and competition is good when you are a Consumer. It is bad when you are a manufacturer. So i want to travel by Indigo, but hate when it when Chubb comes to sell insurance in India, if I am an employee of GIC…..as simple as that.

It is ONLY competition which can improve standards…by the way do people still buy the Ambassador car?

By: pravin

pravin — Fri, 26 Oct 2012 14:25:40 +0000

this is true.that is why people who criticise free markets amaze me. no businessman loves the free market.the biggest beneficiary of the free market system is the rest of us: the consumers -the folks who provide the ‘demand’ part of the supply and demand equation.
there is no union or cartel of the consumers since each of our interest in getting a better value/cheaper deal is limited,we dont even have the incentive to lobby .IMO,the real job of economists is not to be policymakers or advisors,it should be to dispel the myths of trade and basic economics ala Bastiat whenever a Biyani writes a sickening lobbyist article in the economictimes appealing to faux patriotism.as if we owe biyani a living.

By: nikhil

nikhil — Fri, 26 Oct 2012 06:50:08 +0000

how about fdi(fans direct investment) in “subramoney” !!!