Participants in financial markets have created systems which enable the “trawling” of financial markets to detect opportunities within markets and then to transact on these opportunities within milliseconds – also termed “high-frequency trading”.
Such a narrow focus will not do justice to the broad based expertise and wide domain knowledge of late Haksar; nor indeed to the far reaching influence he had on the course of economic and political history of India. To appropriately honour his memory, I have decided to take on a broader canvas and speak about India’s development challenges.