India, Feb. 4 -- A president and prime minister announced an 'Uncle-of-all-deals,' after New Delhi bagged a 'Mother-of-all-deals.' There are no doubts that the two trade pacts, with America and European Union (EU), apart from the one with the UK, may redefine India's exports, manufacturing, and economy. However, there are a few grey areas in the India-US deal, although the details are not out yet, and one needs to wait for clarity. Modi supporters are ecstatic, and the stock market gave a huge thumbs up, as the Sensex, after shedding more than 1,800 points on the budget day, zoomed by more than 2,000 points yesterday. But the critics were as vociferous and loud, both in India and the US.

First, there is the question of optics. In his pos...