Keep Positivity to Fight Gloom
Posted : February 16, 2009 at 4:31 pm [IST]
The gloom through the news of layoffs and slowing retail and housing sectors persists. There are no buyers, be it a car or a house. I am myself experiencing this. As an old man at 70, I wanted to cut down the multiple locations. I decided about my mother’s property at village Bodarhi long back after her death, as I found that unmanageable with remote control. I offered my paternal property to my cousin, when I underwent heart surgery after buying Noida property. I never wanted my heirs to carry the burden of the loan that I took for the house. While in US last year, we decided to dispose the properties in Kolkata. We are presently in Salt Lake with the mission, but feeling stuck. It is difficult time here with the buyers mostly dependent on share market that has flopped.
I had been writing about India and its success stories to cheer up the next generation and keep myself delighted with the achievements of the country men. I still dig out some even now though gone scarce:
With the US and UK in the serious economic meltdown that is still not sure to stop with all the bailouts and stimulus, the valuations of companies in the US and UK continue to fall. As reported, Indian tech majors are grabbing the opportunity to acquire some of those that fit into their long-term strategies.
According to Venture Intelligence, a research service focused on private equity and M&A activity, Indian IT-enabled Services (ITeS) and BPO firms made 44 outbound cross-border acquisitions between April and December last year, which was 27 per cent of the total number of cross-border acquisitions across industries. The value of 29 of these deals adds up to $1.9 billion. In December last year TCS acquired Citigroup Global Services Ltd (CGSL), Citi’s BPO outfit, for $512 million. In August, HCL Technologies acquired Control Point Solutions (CPS), another American company for $20.8 million.
Indians are using Internent pretty significantly. As reported, with the Board examinations drawing near, many teachers are now keeping tabs on their students’ preparation through emails, instant messaging service or social networking sites to help them give their best shot on D-day. Students stay more at home to prepare for Boards these days. Teachers often send them assignments and important links through email. Students then write those assignments and send them back for checking.
Indian scientists are also contributing in solving the worst worries of the world. In a major breakthrough that could help in the fight against global warming, a team of five Indian scientists from four institutes of the country have discovered a naturally occurring bacteria which converts carbon dioxide (CO2 ) into a compound found in limestone and chalk.
The recent announcements from Obama and some senators may be shockingly discouraging for the Indians in US. But a research, conducted by professors of Duke University and the University of California shows that an immigrant figures among the founders of every fourth engineering and technology firm in the country. Further, every fourth engineering and technology company founded by immigrants has Indians as its founders. These entities generated over $52 billion in 2005 sales and created about 4,50, 000 jobs as of 2005. Almost 26% of all immigrant founded companies in last 10 years were founded by Indian immigrants.
India is still the second fastest growing country. As usual, India remains content to remain the second best, be it cricket or cotton production.
There are many other good news items for cheering oneself, be it the prizes coming to Slumdog Millionaire or AR Rahman, or Dhoni’s winning spree in Shrilanka or IPL cricketers’ auction.
I keep myself happy with the reported recognition of Ashoke Sen, the physicist and Amartya Sen, the documentation of traditional knowledge data to fight patent by unscrupulous ones, and even the launch Google’s Kindle 2.
I get excited with news when 50-year old French stationery maker BIC buys a 40% stake in India’s leadingbrand, Cello Pens, when Fortis acquires Mauritius Hospital, Clinique Darne, a 120-bed medical centre, or when the ship breaking industry at Alang in Gujarat seems all set to buck the recessionary trend, or when golfer Vijay Singh signs a marketing deal with the 58-year-old financier’s Stanford Financial.
It is again great news that Indian CEOs are taking pay cuts to avoid layoffs, and the industry associations are trying to reskilling the workforce.
We must keep moving to win the mission of a prosperous India.
- Indra
Category: Industry/Management |
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