Left needs recalibration

The Indian Left has lost its sole bastion in Kerala. Its decline must not be mistaken for a final verdict, as there can be no obituaries for ideas whose moral questions remain unanswered. Inequality still widens, work grows more precarious, and excesses of unbridled growth is heavy burden. These are the unfinished business of our times.

What appears today as a weakening of the Left may, in fact, be a moment of incubation. If capitalism continues to deliver prosperity without inclusion, it must summon a resistance different from old rigid orthodoxy. A renewed Left could emerge as a pragmatic force: one that partners with markets yet disciplines their excesses, embracing innovation while insisting on equity, that protects growth but humanises it more.

The Left is not fading into irrelevance but needs to be reshaping it: quietly, persistently, and perhaps more effectively than before.

R Narayanan

Navi Mumbai

Reforming WTO

It is with reference to the article ‘Can the WTO get back on track?’ (May 6).

WTO facess significant challenges — including the inability to conclude the Doha Development Agenda, and a shift towards bilateral and regional trade deeds. These issues stem from a struggling consensus-based model, power imbalances favouring developed nations and stalled negotiations on agriculture and subsidies.

Unless urgent reforms are undertaken, the global trading system may soon witness the demise of the institution once deemed indispensable.

P Victor Selvaraj

Palayamkottai (TN)

Handling gold

This refers to the Editorial “Gold rush” (May 6). Notwithstanding the geopolitical tensions, the growing imports of gold driven by sentimental consumer attachment more towards cultural, religious and investment motives will impact the economy in the long run.

With large scale stock piling, the intrinsic value of bullion has not been properly explored. The gold monetisation scheme 2015, allowing individuals to deposit gold in the form of jewellery and coins with attached incentives of nominal interest on deposits and capital gain tax exemptions, enabling banks to monetise the underlying gold assets, could not gain momentum due lower interest rates offered on deposits.

As aptly suggested, by augmenting additional assaying infrastructure and offering more tax slops, the over 30,000 tonnes of gold lying idle with the households can be remonetised.

Sitaram Popuri

Bengaluru

Industrial policy

Refers to “New governments often bring fresh vision for industrial policy, says CII chief Rajiv Memani” (May 6). Political factors often shape industrial policy by influencing project approvals, regulatory clarity, and investor confidence.

However, political uncertainty can discourage private investment and distort industrial planning.Governments must ensure continuity in contracts, stable frameworks, diversify risk across sectors, transparent dispute resolution, and predictable taxation.

O Prasada Rao

Hyderabad

Published on May 6, 2026