Bihar-Some light in darkness

Posted on December 4, 2007 by indra

For almost a month, I have not written about Bihar. ‘Chetawani’ or ‘Sankalp’ rallies only made me morose. Why can’t Paswan and Lalu change their political strategies for the sake of the people of Bihar at least for some time? After all they had and will get ample opportunities to prove themselves. And they are still in position from where they can bring about a visible change in Bihar, if not in whole of it, at least in their constituencies. Laluji can see that all the factories that he has proposed to set up in Bihar start construction before he goes out of the present portfolio. Paswanji too can help Bihar having a hub of drug manufacturing. Bihar has all the inputs for pharma industry. Let their party legislatures concentrate in their constituencies at least utilizing the legislature funds that are in millions per year. They may also help in getting the central projects expedited wherever they are effective.

Whatever appears in media, particularly what we see on various news channels about Bihar is only disgusting. However, Aditi Phadnis has written ‘Well-begun but half done’ in Business Standard on December 1, 2007 about the changes in Bihar in last two years of Nitish rule. It was refreshingly nice to read except for the reference about caste dominance.

Here are some portions from the article:

The roads that the state has built are not spanking new four-lane state highways. They are small stretches between villages or between a state/national highway and a village. You have to live in a village to know what this access to the outside world means. Small rivulets that turn into vast swathes of still water un-navigable after the monsoons have been tamed because building or repairing small bridges has been decentralized.

Footfalls in state hospitals continue to grow. Classes in panchayat-run government schools are being held. Every girl child born in a family below the poverty line will be given Rs 2,000 that the UTI will manage until she comes of age.

One quintal of rice to every flood-hit family – regardless of economic status – will continue to be given two months until after the floods. This was earlier 25 kg, barely sufficient for a family of four and would result in large-scale migration every year to stave off hunger.

A scheme to provide a toilet to every home, no matter how small, will cost the state government Rs 1,300 crore but will at least begin to address the problem of sanitation in rural areas.

There was a time the MLA was everything and the DM, nothing. Now it is the other way round. This is causing tension, with party men otherwise loyal to the chief minister, turning against him for being so bureaucracy-led.

However, there are times when Nitish Kumar comes to a standstill while taking administrative decisions. The state has not acquired a single acre of land for industry wanting to invest in Bihar.

The result: an investor for the Rs 1,320 crore Appu Ghar amusement park project got an assurance from the Bihar government that state-owned land on the banks of the Ganga in Patna would be given to him. Then the chief minister got cold feet. The project has since relocated to Delhi. The state government has cleared proposals worth Rs 2,37,000 crore since coming to power. But only the bravest are actually putting money in the state.

With the best of intentions and working 18-hour days, Nitish Kumar needs to succeed, not just for Bihar but also for India. To do this, he needs to be resolute.

I am sure there are many more things happening. I heard the vigilance commission has effectively moved to take action against black seeps. As reported, “since January 2006, the bureau has laid 153 traps and caught more than 178 public servants including IAS and IPS officers, engineers, and senior officials of the forest department.” Many criminals are behind the bar. Crime is under check. But can’t Nitish move faster on the industrial development front too? Can’t he pick up someone who can do some miracles in taking the proposed investments on fast track? As the Chief Minister of Bihar, he can pick up any one he wishes who can make Bihar industrially developed. Perhaps, main obstacles to investment in Bihar relate to the perception about the crime and corruption in the state. Perhaps that will take time.

I personally feel that the trio of Nitish, Paswan, and Lalu can do that by shaking off their party affiliation. Let them stop criticizing each other in public. It would not make any difference if they don’t do that. Let them shift their personal priorities to uplift Bihar that still live with the lowest per capita productivity in agriculture at Rs 661 against the national average of Rs 2,370, and the lowest investment having a highly adverse credit-deposit ratio of 24.5% against the national average of 53.4%. 56.5% the population of the left-out Bihar still lives in flood-prone conditions. Bihar has the country’s second largest number of poor at 41.4% after Orissa (46.4%). Furthermore, more than half (55%) of the state’s urban population lives on just Rs 19 each day.

Are they listening?

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Booming and Blooming India-XXIX

Posted on December 3, 2007 by indra

A sluggish manufacturing sector pulled down economic growth to 8.9% in the second quarter of 2007-08 as compared to 10.2% during the corresponding period of the previous year, despite a good show by the agriculture and mining sectors. Rising rupee has affected manufacturing. But the fundamentals are strong. Inflation is within the limit set by RBI. Companies are investing and preparing to face the unavoidable. Confidence level is high. India must move to a GDP growth of 10% or more. It is under discussion. The foreign exchange reserve bulges to $272 billion. India may soon use some in interest of the nation.

RCom set for $5.6 bn order: Reliance Communications Ltd (RCom) is getting ready to place what will be, at 70 million lines and an estimated value of $5.6 billion (Rs22, 288 crore), the biggest order ever by an Indian Telco.

Cement capacity: According to recent expansion plans, installed capacity is expected to increase to 186 mn.tpa by end FY2008, and 219 mn.tpa by end FY2009, and up to 241 mn.tpa by end of FY2010.

<b>Infosys climbs higher on FinTech 100 list: Infosys Technologies Ltd for the fourth consecutive year has been named to the FinTech 100, an international annual listing of the top 100 global application and service providers that derive more than one third of their revenue from the financial services industry. Infosys ranked 14 on the annual list by American Banker and Financial Insights, up from 18th position in 2006.

ITC plans to add 20,000 e-Choupals: ITC is looking at increasing its e-Choupal footprint to nine more states adding 20,000 more kiosks, and 10 million farmers to its network by 2010. Currently, ITC’s e-Choupal network operates in six states with 6,400 kiosks in 40,000 villages, covering 400,000 farmers and it will be expanded to include 1lakh villages in 15 states.

Three Indians in Fortune list: Ratan Tata has been named by global business magazine Fortune as one of the top 25 most powerful business heads, along with steel tycoon L N Mittal and PepsiCo’s Indra Nooyi. The Fortune ranking closely follows a list by another global business publication Forbes, released earlier this month, that named India’s richie-rich led by Mittal and Ambanis.

US subprime crisis fails to crack Indian realty boom: There will be demand for over 24.3-million new dwellings for self-living in urban India, and over half of this will come from outside top 100 cities, according to ‘Housing Skyline of India 2007-08’, a study by Delhi-based research firm, Indicus Analytics. India’s booming real estate industry, growing at a scorching 30 per cent and estimated to touch $60 billion by 2010, has caught the fancy of global realtors and investors who have pumped in or are looking to invest heavily in the sector.

From London to Paris, they woo Indian investors: With India Inc emerging as a serious investor around the globe, various governments and cities, from London to Paris, are now courting Indian companies, seeking their investments.

Punjab potato farmer pioneers French fries: An agro-processing plant set up by local potato farmer Mandeep Singh is set to give Punjab’s Jalandhar district the tag of being the first to have an Indian company indigenously produce French fries in the country.

Rs31,000 cr plan on skills development in the pipeline: The Union government has proposed spending Rs31,000 crore on skills development over the next five years according to a draft of the 11th Plan, as against just Rs 350 crore allocation for skills development in the 10th Plan. India needs to expand vocational training from the present capacity of a mere two to three million to at least 15 million new entrants to the labour force.

Indian blue-chip cos create 3 times more wealth than US firms: India’s 30 blue-chip companies, part of the stock market benchmark Sensex, may be minnows compared to their US counterparts, but they have created nearly three times more wealth for their investors this year so far compared to the American giants.

Asia’s Young Entrepreneurs: John Hummelstad, regional director of emerging technology and venture capital in Asia-Pacific for Microsoft is impressed by the dynamism of entrepreneurial companies in India. “Before they were writing code for others, and now they’re developing their own code base and moving forward from there.”

IIMB students get foreign internships: For the first time, Indian Institute of Management Bangalore (IIMB) will have 110 students interning aboard. Of the 249 students who got internship offers, 68% accounted for investment banking followed by 17% for management consulting firms.

Carbon trade may prove another IT sector for India: The World Bank has said that with growing concerns for global warming and climate change, the carbon trade market, which is set to grow from the present level of 30 billion dollars annually to 100 billion dollars, can prove another IT sector for India.

India to have 20 million broadband: Connecting over six lakh villages with broadband connectivity will help introduce the power of IPTV as an enabling tool that could eventually bring BPOs to locate in India’s villages. Today the country has about 2.7 million connections. 2 Mbps and above connected needs are expected to be made free or should be charged only on the basis of usage of content.

Acquisitions continue: Gitanjali Gems has acquired US retail jewellery chain Rogers for $18.5 million to boost the company’s retail presence in abroad. Rogers revenues this year stood in the region of $80 million. Plethico Pharmaceuticals, a leading Indian herbal and nutraceutical (a combination of drug and food products) company, has agreed to acquire Natrol, a nutritional products company in the US, for $81 million (Rs 318 crore). Welspun India has turned around UK’s largest terry towel brand called Christy, which it had acquired it in July 2006. Nirma acquired the US-based natural soda ash producer Searles Valley Minerals (SVM). The acquisition, third in a row in three years will place the detergent maker among the world’s top seven producers of soda ash. Hindalco Industries, an Aditya Birla group company, is scouting for copper mines in Columbia, Peru and Argentina. Tata Steel signed a joint venture agreement with Australia’s Riversdale Mining Ltd to set up a special purpose vehicle to develop a hard coking and thermal coal project at Riversdale’s key coal exploration tenements in Mozambique. Indian Film Outfit Goes Hollywood: Prime Focus Group (PRFO) , a Mumbai-based postproduction house for films, TV shows, and advertisements, intends to pay $43 million for a pair of Los Angeles companies, Post Logic Studios and Frantic Films.

Indian BPOs move to Latin America: After making a splash in US, European and Japanese markets, Indian ITeS companies in the last two years have seen many of them set up shop in countries like Chile, Brazil, Argentina, Uruguay and Mexico. From TCS to Satyam, Evalueserve to 24/7, Indian companies have now opened development centres or acquired companies all across Latin America.

NRI creates mice resistant to cancer: An Indian-origin researcher at the University of Kentucky has led a team to create mice that are resistant to aggressive types of cancer.

Moser Baer to set up solar project in Rajasthan: The photovoltaic unit of optical media storage device maker Moser Baer (India) Ltd would invest about $25 million (approx Rs100 crore) to set up a solar power project with an estimated generation capacity of the project is 1-5 mw in Rajasthan.

Satellite technology to clear urban mess in Delhi: The government is planning to come up with a 3-dimensional geo-spatial data of land, buildings and underground utilities in the city using satellite and aerial photography. The new technology, “Delhi State Spatial Data Infrastructure”, which is supposed to be in place by February 2009, is expected to help government in a number of ways including detecting power theft, streamlining tax collection, helping courts in settling property disputes and managing traffic and relief operations during disasters.

Biometric ATM to Chhapraula village: Punjab National Bank has taken the initiative to install North India’s first biometric ATM at the Chhapraul that will help the illiterate and semi-literate customers by helping them to withdraw cash, make balance enquiry and get mini statement with the facility of voice guidance.

<b>Indians in US: India is in the top three of legal immigration in the country accounting for a little more than 1.7 million with nearly 39 per cent being US citizens, said the study released by Center for Immigration Studies. Indians in Santa Clara County, home of the Silicon Valley, have the highest median household income, own the most valuable homes, and are the best educated, according to a latest Census report. However, the brains are flocking back home too. Calcutta University (CU) recently received applications for an assistant professor’s post in the biochemistry department from more than 80 scholars working in US, UK and German.

And an achievement that every Indian can be proud of: “The Indian Space Research Organisation (ISRO) entered into the exclusive club of nations capable of building cryogenic engines with a thunderous sound of a rocket test that lasted 12 long minutes.

Indian story is reaching everywhere and interests everyone who matters.

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Christ in India

Posted on December 2, 2007 by indra

In my active professional days when I used to travel very often, I remember seeing some books about the years Christ spent in India on the bookshops of airports. I never took it seriously. I considered them as a book that claims Taj Mahal as Hindu Temple. Many years ago, one of acquaintances talked of the discovery of US by Buddhists in ancient times. It is difficult to ascertain the truth and historicity, but it is interesting reading.

It was interesting to read that very soon a $20 million film, The Aquarius Gospel, will trace Christ’s “lost years” between the ages of 14-30, on which the Bible is silent. It will show he spent some of that time in Kashmir, was deeply influenced by Buddhist and Hindu teachings.

Outlook has a feature by Raghu Karnad on this that also provides some references to the books of some authors on the subject:

In 1887, a Russian historian, Nicolai Notovitch, returned from Ladakh and claimed that after falling from his horse and breaking his leg, he had been laid up in the Hemis monastery near Leh. While there, from conversation with the monks, he learned that they revered a prophet named Issa, an incarnation of the Buddha, who was born in far-off Israel and arrived in ‘the Sind’ in his 14th year. The deeds of Issa were recorded in lengthy documents, some of which were stored in Hemis and which Notovitch was allowed to view after much pleading. They further described how Issa went to Orissa to study the Vedas, but angered the Brahmins by trying to teach the Sudras. Notovitch claimed he wrote down as much as he was able to from the Hemis documents, which he later published as The Unknown Life of Jesus Christ.

Levi Dowling published ‘Aquarian Gospel’ on which the film is going to be based, in 1908. Another book, ‘Jesus Lived in India’ by German scholar Holger Kersten became a bestseller in India.

Fida Hassnain may be the most dedicated scholar and defender of the story of Jesus in Kashmir. As the former director of the State Archives, Archaeology Research and Museums in the J&K government, he has personally examined a number of documents-in Chinese, Sanskrit, Arabic, Pali and Persian-which he says point to the presence of Jesus in Kashmir. The most important piece of evidence, to him is the Bhavishya Mahapurana, one of the 18 Hindu Puranas. “It provides information that Jesus met the King of Kashmir,” Hassnain says. “He gives his name as Isa-Masih, he says ‘I am known as the Son of God, born of a Virgin’, and he also says he has suffered, meaning, on the cross. The manuscript was in the possession of Maharaja Partap Singh of Kashmir, who later gave it to the Bhandarkar Research Institute, Pune.”

Hassnain’s version of events is much more controversial than the one the filmmakers are using: he proposes that Jesus did not die on the cross, but recovered from the Crucifixion and returned to Kashmir to resume his preaching. The Ahmadiyya community of Muslims believes the same version of events, which is one of the reasons they are treated as heretics by mainstream Muslims. Like the Ahmadiyya communtiy, Hassnain believes the body of Jesus was interred at the Rozabal Shrine in Srinagar under the name of Yuzu Assef.

I don’t know if Christ traveled to India. But by the time of Christ, Arabs and even Europeans knew India. As it happens with young smart people such as those who migrated to US from Europe or the migrants from India who established their colonies in South East Asia, Christ might have come to India. After all, Guru Nanak had also traveled to Arab countries and visited the Islamic shrines.

Globalization thus started in ancient time itself.

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Manufacturing Melts and Vanishing Jobs

Posted on December 1, 2007 by indra

The rupee strengthening more than 15 per cent in last few months against the dollar have severely eroded the margins of exporters and competitive advantages. What can be done to cut the costs to shore up the bottom lines of the exporting companies? After all, a company can survive and grow only if it makes money.

Manufacturing is the most affected sector. The worst hit are export-intensive businesses like textiles, leather, handicrafts and engineering. And the companies are now resorting to drastic measures, like retrenchment drives, to stay competitive. The estimated job losses run into several millions. According to the Federation of Indian Export Organisations (FIEO), the apex export body, almost 8 million jobs are likely to be lost this financial year. And the problem may get worse if the rupee continues to appreciate as in recent time.

Most textile companies are opting to downsize to cope with a loss of export income. But the option is certainly anti-people in a country where job loss leads to a miserable life with almost no alternative job opportunity for the workforce retrenched. The textile and apparel exporters seem worse hit by the dollar’s depreciation. The reason is obvious. More than 80 per cent of India’s textile exports are dollar-denominated. According to the Confederation of Indian Textile Industry, almost 500,000 jobs are likely to be lost this year. FIEO puts the expected number of jobs lost at 600,000. According to the Tirupur Exporters Association, almost 10,000 direct jobs have been lost in the region and by the end of the year; the number could soar to 50,000. The products of textile companies are highly price sensitive. Most garment and apparel companies supply to the intensely competitive retail market in the US and Europe, where sharp price hikes is difficult. The exporters have consciously moved up the value chain to hand embroidered and denim products. But 60-70 per cent of the market is still with the low-end garment exporters who work on thin margins.

Another sector reeling under the rupee’s rise is leather. More than 90 per cent of exporters have a turnover less than $5 million (Rs 20 crore) and account for half of the country’s leather exports are in the small and medium sector working on wafer-thin margins. The large units with more than $15 million in revenues account for only a fifth of the total exports. The sector employs 2.5 million workers. And all of them face the risk of job loss.

The rupee appreciation has also affected the handicrafts industry badly. As reported, the exports of handicrafts have been growing consistently at an average rate of 16-17 per cent over the previous years. Since June, exports have shrunk. The Export Promotion Council of Handicrafts (EPCH) estimates that export of handicrafts during the current year may decrease by 15 per cent in comparison to 2006-07. According to EPCH, almost 800,000 artisans are already jobless. However, many a times it seems the bogey of retrenchment is only to get the government attention and subsidies or other financial assistances.

According to commerce ministry estimates, exports dipped 56 per cent in handicrafts, between 6 and 22 per cent in textile-related sectors, and 6 per cent in leather in April to October 2007 over the same period last year.

How can the companies face the fallouts of rupee appreciation that is not under the control of the country? India can’t become China or Hong Kong that have a fixed exchange rate with dollars for many years. But should it not be a matter for discussion at WTO level? The parity among the currencies of different countries must be a necessity for globalization.

But then how can these manufacturing sectors survive and flourish? I personally feel that the trade associations take a very short-term view of the competition. It talks of relief from the government: refund of all local levies (State and municipal), reduced interest rates on pre- and post-shipment credit, withdrawal of service tax applicable to all export related activities; and moratorium on the return of principal loan amount. And under the political pressure and lobbying, the government yields. Chidambaram on Thursday announced additional relief measures for the exporters in his third such package since July. However, it has neither satisfied exporters’ nor the commerce ministry. The highlight of today’s measures include a two per cent subvention in export credit (essentially a reduction for which the government bears the burden), exemption of service tax for three more services that exporters use (storage and warehousing, specialized cleaning services and business exhibitions) and lower customs duty on raw materials for textiles.

It is unfortunate that they hardly talk of productivity improvement, technological innovation, making the products more acceptable by improving the quality through continuous dialogues with the employees.

Why should they jump to one point solution by retrenchment? How much is the labour cost today in manufacturing? Why can’t they take the workforce in confidence to accept a cut in the compensation for the troubled period, if they are honest? Why can’t the trade associations and the government agencies assist in looking into cost reduction of various elements?

With abundance of cotton and rawhide in the country, the cost of the major input is certainly low unless the intermediaries are jacking that up. The manufacturers are paying much less to the shop floor workers than the other Asian countries pay. For instance, in the handicraft sector the price depends on the attractiveness of the products that comes from the skill of the craftsmen. Traders pay the minimal compensations to them. Many a manufacturers, particularly the traders are unscrupulous. The subject requires an in-depth study of various aspects.

What are the high costing elements in production processes and administration? Why can’t that be reduced instead of retrenching the workmen, raising alarm and crying for alms from the government? Perhaps the whole lot of the people of the country at all levels prefers to live an easy life with subsidies and doles instead of finding technical solution to face competition.

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West Bengal- A Coward State

Posted on November 30, 2007 by indra

I had once tried to go through Taslima‘s famous novel ‘Lajja’. I was in my village for few days and I had nothing to read. My cousin Alok had given me the book that was a Hindi translation of her book in Bengali. Somehow I didn’t find that interesting. I couldn’t ascertain if that due to a bad translation or that was because of her style. Over the years, Taslima has become famous rather controversial for wrong reasons. Because of fear of her life, she left her own country and lived for some years abroad. She then came back to Kolkata and started living there.

Few months ago, I saw her on TV getting assaulted in Hyderabad when she was attending a literary function. Was that not cowardice an act against a woman whom Indian culture claims to respect? Could those cowards do the same for someone who is really damaging the social fabrics of the country and still roam around freely? I got shocked to find that happening in an Indian city. I felt pity when I saw Taslima with fear clearly written on her face while getting driven in a taxi to the hotel in Rajasthan, West Bengal exiled her from Kolkata and asked her to move to Rajasthan because of the pressure from the minority community that demanded it. I got amazed and started questioning its rationality. How can any civilized society disown her? Bengalis were never like that. After all, Taslima is a writer. And how rightly she claims, “You may dislike my writings and my contentions, but you can’t deny me the space to write and lead a normal life free of fear and persecution”? Where were the intellectuals of West Bengal, when Taslima had to leave Kolkata? How could Buddha, himself a man of letters, order or agree for such an action? Has CPM become so much dependent on the vote bank of the few in the minority? What a shame for the people and women of the state for whom I had a lot of respect? Can we be proud with this action in this largest democracy of the world? Can Bengali be proud of this action of their government?

And let us look at the irresponsible media that provides all information such as the flight number with seat details, destination, and address of the hotel where she stayed. Don’t the reporter and the publisher understand its consequences that can harm her?

For the first time perhaps BJP, RSS, and Modi took a right stand to invite her and provide all the security. I wish they kept on taking such decisions and permit Fida Hussain to come back to his homeland. If UK could shelter and provide security to Rusdie, why can’t West Bengal do that for Taslima?

It is good that the government of India has finally decided to provide shelter and security to Taslima. Let this nation of one billion be not afraid of taking the right and rational humane decisions. And West Bengal must invite her back, as she finds Kolkata more homely. She can’t be an outcast.

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Manufacturing India-IV

Posted on November 29, 2007 by indra

It appears manufacturing in India is moving fast. Some segments are doing wonderfully well. Here are some stories from the recent weeks:

Manufacturing beats IT, pharma in returns: The manufacturing sector was the top performer in creating shareholders value, according to a study by the Boston Consulting Group (BCG) and the Confederation of Indian Industry (CII). Three manufacturing sectors (engineering and construction, industrial commodities and materials and commodities) created more value for its shareholders in last five years than IT or pharmaceutical companies.

Tata Motors plans fresh wheels: Tata Motors is readying a slew of launches in the commercial vehicle (CV) segment during 2008 to counter increasing competition and also revive demand.

GM bets on R&D to win India race: The GM Technical Centre in Bangalore is developing and designing a number of new cars in the small, medium, sedan and sports utility vehicle (SUV) categories for achieving a 10% marketshare in the passenger car segment by 2010.

Hyundai to set up R&D centre in Hyderabad: Hyundai Motor Corporation is investing $40 million to set up its fifth R&D facility at Madhapur in Hyderabad. As per the company, the designs from the Hyderabad unit will be used in our global operations.

L&T eyeing $1 bn shipbuilding orders: India’s largest engineering and construction firm Larsen & Toubro Ltd (L&T) is negotiating with global shipping fleet owners to build ships worth over $1 billion (Rs3,930 crore).

Samsung India to invest $100 mn: Electronics major Samsung India will invest $100 million in four years at its new manufacturing facility at Sriperumbudur near Chennai. Investment of $30 million in the first year will be to manufacture colour televisions for the domestic and export markets.

<b>Mitsui to set up manufacturing unit in Rajasthan: Mitsui Prime Advanced Composites India is setting up a manufacturing facility for polypropylene compounded resin, with support from the Rajasthan State Industrial Development & Investment Corporation (RIICO) at Japanese Investment Park, Neemrana – Phase III, in Rajasthan.

<b>Cummins on expansion mode: Cummins, the global engine player, is acquiring 300 acres in Phaltan region in Maharashtra to expand its operations in India. Tata Cummins Ltd (a 50:50% joint venture between Tata Motors and Cummins) and Cummins Turbo Technologies (CTT) would first establish their projects in this newly acquired area.

Apache plans to invest Rs 500 cr more in Nellore project: Apache Footwear Ltd, an authorised manufacturer of Adidas Sports shoes, is planning to bring in the second round of investment into its existing sector-specific SEZ for footwear near Tada in Nellore.

Tatas, M&M close in on Ford brands: Ford Motor Co, the owner of the two brands-Jaguar and Land Rover, is believed to have narrowed the auction to three bids. Apart from the Tatas and Mahindra & Mahindra, One Equity Partners, a buyout firm funded by US investment bank JP Morgan, is on the final leg of the race.

SKF India targets Rs 3,000cr biz in 4 yrs: SKF India, India’s leading supplier of bearings for industrial and automotive applications, is aiming to more than double its revenue in four years with the company aggressively pursuing its expansion strategies in the country. The company is aiming for a business in excess of Rs 3,000 crore, with growth of more than 20% every year.

Vestas RRB enters North American wind energy market</b>: Wind turbine manufacturer Vestas RRB India Ltd expects at least 15% of its revenue to come from exports. Vestas has received an order to export two 600-KW turbines to Canada worth $2 million (about Rs 7.86 crore). Vestas is in an advanced phase of commissioning its new wind-energy-generator blades and controllers facility in Chennai.

Commercial vehicles, Passenger cars, auto parts, wind turbines, shipbuilding, and almost all manufacturing segments are booming with a huge lot of investment going in all the segments. The interesting part is the thrust on innovation in manufacturing and the strength of India in R&D that the global companies want to cash on.

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Six Nights in Salt Lake and Two in Rajdhani Express

Posted on November 28, 2007 by indra

We came back today to Noida, the place I hate as the people here are so business minded and I like as I can see Noida as a laboratory of surging India. Lalu has earned a name worldwide and particularly in the business schools for his turnaround of Indian Railways that he heads. Unfortunately, I didn’t find any significant change at the main railway station in the capital of the country, New Delhi, he has announced time and again his intention and plans to transform some of the railways stations of the country as good as the best in the world. We felt miserable when Rajdhani entered on the different platform and not on what the digital board was showing. The announcement in public address system was inaudible. We had to transfer the luggage ourselves. It was really difficult for us at this age. The porter had left assuring us that the train would come where he has kept it. I am sure some real management is essential on railway stations. The passengers, and that too many in numbers get hardly any assistance from the railway staffs who are never seen around the train or on platform. Can’t Lalu request some of his fans from among the management school faculty members and students to help him for finding a good practical and easily implement-able solution?

It was comfortable night sleep in the train but next day morning we found the train was running late and as much as two hours or more. My co-passenger who was an advocate in Srirampur was getting restive, as he was to attend some important cases in the court. His cell phone was ringing continuously enquiring about the expected time of his arrival in the court. If Rajdhanis can’t maintain its timings which other train can we expect to do that? Perhaps, time keeping is not the priority for the railway administration or minister.

Unfortunately, the railway has by now no arrangement such as hand trolleys for the passengers to transport their baggage. Passengers are but dependent on porters who are becoming more and more difficult to be handled. I don’t understand why are the trolleys not provided, when people are already having experience of that in all malls and airports.

Vakil and Om Praksh had come on the station and I got rid of some of the worries for finding taxi for Salt Lake or any other problem after reaching AJIRA, CJ-120. While we were busy cleaning and setting the house right for living, my cell phone started ringing. I was shocked to hear that some riot had started in Kolkata. Vakil must go back through the safe route. Fortunately, I could switch on TV and found that some very little known minority forum was behind the problem. TV was showing widespread violence and arson. Army had to go for a flag march for the first time after fifteen years. I took the happenings as a typical Kolkatan one for this City of Joy, as I had seen this or the worst since 1955. It is unfortunate the Kolkata has hardly changed but for some malls such as the City Centre in Salt Lake that we went to one night. I say this based on very little that I saw while moving inside Kolkata for two days to attend the marriage functions of Soni and Avishek, and while going to and coming from Salt Lake residence from Howrah. I tried to talk with a large number of acquaintances of all sorts at the marriage functions as well as during the course of getting some repair works of painting, plumbing, and carpentry done at AJIRA or during day-to-day shopping. While the City Centre of Salt Lake was a happy surprise, the streets and lanes of Kolkata and the permanent occupants of footpaths present the misery of the people of Kolkata at large.

It was very hectic. Yamuna was real busy in getting AJIRA cleaned and lightened as much as it was possible by getting rid of many things that we had collected for many years when we lived in Kolkata. I had a wish to go up to Dakhineswar to see the newly built bridge, but it couldn’t happen.

Winding up and covering everything before leaving any residence is a troublesome affair. We left for Howrah. At station, we remembered we left some sweets in refrigerator. Nothing could be done. We expect Bharati and Vakil to take care of the preliminary cleaning task before we arrive there on January 4, 2008. Will they?

At New Delhi railway station, we found today that there is no prepaid taxi booth. Shouldn’t Laluji arrange this?

But finally I am back and am able to put this entry and that will tell why it was missing for these days.

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Can’t West Bengal Survive without CPM?

Posted on November 21, 2007 by indra

I have seen the emergence of CPM in West Bengal as ruling party. Congress Party after Dr. BC Roy gradually lost its hold. CPM emerged indomitable as it forged an effective united front of all leftist parties. Division of votes stopped enhancing the win-ability of united front. And the Congress after the Sidhartha Sankar term weakened because of the formation of Mamata’s Trinamool Congress. If Mamata could have got the chance to lead the combined Congress, she had the required fire and honesty to throw out Leftists. Unfortunately for West Bengal, it didn’t happen. Over the years, Mamta because of her own shortcomings and immaturity born out of frustrations is no more the earlier firebrand Mamta. However, with the land requisitions for industrial development at Singur, Mamta again brought her at the center stage. Mishandling of Nandigram by Budhha, the CM has made her stronger.

Nandigram has exposed the leftists and its way to deal with the people dissenting with it. Nandigram has become the hottest issue from he streets of Kolkata to the corridors of parliament. It must be for the first time in left rule that the happenings in Nandigram forced even the left leaning intellectuals to join a peaceful march from College Street to Esplanade. Thousands of the city’s students, teachers and activists joined writers like Mahashweta Devi, filmmakers like Aparna Sen and artists like Jogen Choudhury to register a silent protest against the atrocities in Nandigram.

CPM rules through cadres that can be totally armed if needed. Its cadres control all the factories and enterprises and decide whom to employ and who is to be promoted. Even CEOs and managers remain in office till they keep on agreeing to what the cadre desires.

A TV programme from the Town Hall of Kolkata by NDTV on Nandigram on Sunday made me feel that the middle class of Kolkata is really aggrieved and disenchanted. However, I wonder why the people have realized it so late. Columnists after columnists are writing against Left in West Bengal, particularly CPM and specifically about Buddha who to me appears to be a frustrated man now. Many of the alliance partners have opposed the methodologies adopted and the statements made by Buddha. The respected governor from Gandhi family expressed his remorse. Strangely, Manmohan Singh maintains his silence because of political necessity.

Left was always like that. It never allowed the followers of opposing political parties to vote even in 60s, wherever it had the cadre’s strength. No one can oppose them on any issue, if he wants to live in the state and carry out his business for living. All sorts of mafia- be it builders, contractors, or material suppliers flourished under its protection. Leftists have mastered the art of winning election. The same CPM that is talking so enthusiastically for the need of industrial development and is ready to do everything to help Tata Motors and many others did everything to make the lives of industrialists and managers in 60s and 70s miserable. I wonder how Tatas decided to set up manufacturing plants in West Bengal.

When Lalu and Rabri ruled Bihar for fifteen years I used to wonder how would the end come and if it would at all come. I also keep on wondering the same about the left that has ruled West Bengal for last 30 years. Will there be no end to its rule? Why don’t the people of West Bengal who are much more enlightened and informed than those of Bihar bring a change of the government?

I read a news item in Telegraph today:

Five local CPM leaders were trussed up in their office, beaten and paraded with garlands of slippers and cowdung cakes around their necks in party bastion Burdwan. They were accused of favouritism in an official list of the poorest of poor. The thrashing – the third in the district in a little over a month since ration riots swept through south Bengal – took place this morning at Saloon Mollahpara, in the Khandaghosh area, about 140km from Calcutta.

Can this be the beginning of the end? I feel happy, though I know the end is not near. May be, it may not come even for many years.

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Booming and Blooming India-XXVIII

Posted on November 19, 2007 by indra

Stock market time and again makes record rise. The benchmark 30-share index rose 893.58 points, or 4.69%, to 19,929.06 in one day. Even many small investors are making money in this market. It was never like this.

Top 5 IT firms spend $438 mn on training: The country’s top five software companies will together spend close to $438 million (Rs1, 721 crore) this financial year in training around 100,000 engineers they would have hired in the same period. In the case of most companies, up to 80% of the hires are made at the entry level, and up to 80% of the training budget is spent on them. With better working relations with educational institutes shaking off the professional ego, the expenditure could have been reduced to a great extent.

India Inc`s order book overflows: Contrary to hints of an economic slowdown, India Inc’s order books are overflowing. In the first 10 months of calendar year 2007, Indian companies received orders worth Rs 128,147 crore that are 68.6 per cent more than Rs 75,984 crore in the same period a year ago.

India, the new global hub for advertising campaign: The list of multinational companies that have chosen India as the base market for regional or, in some cases, global advertising operations, has grown considerably in recent times. Last year, BT awarded a $1-million contract to Tribal DDB India to manage a global online assignment, while Nissan, McDonald’s, Coca-Cola, Motorola and Johnson & Johnson have all begun to create work for other markets out of their Indian agencies.India climbs to 15th in ad ranking: According to the Gunn Report of 2007, India has moved ahead of China, New Zealand, Mexico and South Africa, among others, to notch up a total of 39 points for award winning campaigns in Print, TV and Interactive. Indians had been creative and are now cashing on that.

Furniture imports surge on growing demand: According to the Commerce Ministry figures, furniture import to India rose to Rs 1,801.27 crore in 2006-07 from Rs 1,103.46 crore in the previous year, an increase of 63.24 per cent against India’s total import growth of 27.27 during this period. Are Indians crazy about imported goods? Is it the real face of consumerism?

GDP growth may stay at 9%: Better agriculture growth and mixed corporate performance may help achieve 9% GDP growth in 2007-08 according to the latest issue of the CII’s ‘State of the Economy’.

Desi students still largest group in US: For the sixth year in a row, Indian students have emerged as the largest group of international students in the US. According to the latest figures released by the Institute of International Education on Sunday, there are 83,833 Indian students in US that comprise 14.4% of the total international students in the US. Indians are getting resourceful enough to bear the high expenses of education inUS.

NHPC plans to add 25, 000 mw capacity:The National Hydroelectric Power Corporation (NHPC), which has managed to produce just 4,145 mw from 11 projects since it was set up in 1975, is planning to add over 25,000 mw of hydro generation capacity over the next 20 years. One must dream big but must do everything to get the dreams realized too.

Wockhardt plans 14 new hospitals: Mumbai-based healthcare firm Wockhardt Hospitals is planning to set up 14 super-speciality hospitals across the country over the next two years, which could entail an investment of up to Rs600 crore. Apollo, which has 39 hospitals in India, will spend 8 billion rupees by 2009 and take up its bed count to 9,600 from 8,000 now. Competitor Fortis Healthcare Ltd will add 28 hospitals to its 12-hospital chain by 2012.

The small car dream-merchants: With approximately 56% of the population comprising youth and a rapidly expanding middle class, India could overtake China within a couple of years as the fastest-growing car market, according to analysts.

Carlos Ghosn in top gear on Indian drive: In just over six months since the launch of Logan, Ghosn has worked out a multi-partner strategy, tied up with Ashok Leyland for Nissan trucks, worked out an ultra-small car project with Bajaj Auto and is reputedly talking to both Eicher and Bajaj for Renault light commercial vehicles. Add to that the global production arrangement with Suzuki through Maruti and the greenfield plant and powertrain facility in Chennai.

Indian American is new Adobe president: Indian American Shantanu Narayen has been appointed President and Chief Executive Officer of Adobe System Incorporated from December 1 next replacing Bruce Chizen. Mr Narayen holds five patents and serves on the Advisory Board of the Haas School of Business, University of California, Berkeley and holds a bachelor’s degree in electronics engineering from Osmania University and Master’s in business administration from the Haas School of Business.

World takes note of Mumbai start-up’s waste-to-fuel tech: A Mumbai start-up may have well discovered a way to convert plastic, organic and electronic waste into petroleum without the usual harmful residue, and, emboldened by encouraging results from tests in the Netherlands, West Asia, and Malaysia, is now setting up plants that can process 25 tonnes of plastic a day in Austria, Italy, Germany, and the Netherlands.

India to buy 400 firms in US, EU: Assocham: India Inc would buy 400 firms in European Union and the US market every year from 2010 onwards, according to a study by Assocham. “Indian Companies acquired more than 180 Companies in Europe and US, up from 130 in 2005. The number would exceed 210 by end of current fiscal and the tempo would further be facilitated towards the projected numbers,”

Seven Indian firms among world’s 1,250 top R&D investors: Tata Motors, India’s most valued automobile firm, and drugmaker Ranbaxy are among the seven Indian firms in the world’s top 1,250 companies ranked on the basis of investments in research and development. Ranbaxy spent a total of Rs639.3 crore on research in 2005 and Rs483.8 crore in 2006.

Tech Mahindra to invest Rs 1,000 cr on three software units: Tech Mahindra, one of the largest IT services and telecom solutions has posted a turnover of $430 million during first six months of this year. Mahindra Group’s IT arm Tech Mahindra would invest Rs1,000 crore for setting up software development centres in Chandigarh, Noida and Jaipur in the next few years.

India to become 2nd largest steel producer: The country is set to become the world’s second largest producer of steel before 2015-16 and the sector is likely to witness an investment of Rs 8,70,640 crore by 2020.

Pyaasa, Apu Trilogy in Time list of best films: Time magazine has listed Guru Dutt’s Pyaasa, narrating the pathos of an unpublished poet, and Satyajit Ray’s Apu Trilogy, about a child growing into manhood in modern India, in its list of all-time 100 great movies.

India’s bull run is likely to continue: According to Rob Morrison, chairman and chief executive of financial research firm CLSA Asia-Pacific Markets, “The surfeit of liquidity powering markets in Asia (and India) will not dry up in the next six months or a year, but when the US overcomes its credit concerns, some of this money will surely go back.”

Construction boom: The construction industry employs about 31 million people, second only to the agriculture sector, the workforce requirement is about 5 million people every year over the next seven years to eight years to sustain the present 8 per cent growth rate.

Richest Indians crash billionaire club: There’s at least one thing Indians do better than the Chinese: generate wealth. At a staggering $180 billion, the four richest Indians are worth more than the 40 richest Chinese combined, according to Forbes magazine. The richest 40 Indians, on the other hand, are all billionaires, and together form the wealthiest such group in Asia, riding a surging Economy, soaring stock Markets and a stronger currency.

<b>Global telecom cos ride on Indian operations: Indian operations are clearly driving revenues and earnings of global telecom companies including Singapore Telecommunications, Maxis Communications, Vodafone Plc and Telecom Malaysia – all of which are present in the country.

Gems and jewellery exports in H1 up 21.5%: The country’s gems and jewellery exports have risen 21.5% to $9.38 billion in the first six months of the current fiscal as against $8.01 billion in the corresponding period last year.

Forex reserves up $3.6bn at $270bn: Foreign exchange reserves increased $3.663 billion to $270.181 billion for the week ended November 9, according to data released by the RBI today.

After Moon, India eyes Mars mission: The Indian mission to Mars got a fillip with ISRO’s 11th plan including the flight to the Red Planet as a part of the document. Are Indians moving too fast?

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Chhath- Some Reflections

Posted on November 18, 2007 by indra

During Hindustan Motors’ day, we lived in its residential flats for many years. Yamuna used to organize and celebrate Chhath almost every year without fail. For some years, I also undertook the rigorous fasting for almost four days and offered prayers to Sun God. It used to be exciting to carry out the religious rituals at the sunset and the dawn next day in the water of Hooghly River with the temple of Dakhineswar facing us on the other side. It seems Chhath must have originated many years ago in Vedic period when Sun used to be one of the main God, and people worshiped the nature in all forms.

But I left HM and moved to Salt Lake. It became unmanageable for Yamuna to organize. When we came to Noida in 1997, we got further distanced. Old age also dissuades us. Some hundred thousands from Bihar must be living in Noida, but unless we pass by some of the bridges on Yamuna River or near around on this day, we hardly come to know Chhath, neither do we get any ‘prasad’ of the ‘vrata’ from anyone. It pains me, but what can I do about it. People from Bihar whom I know are either too modern that they don’t organize Chhath or they don’t have our names in the list of beneficiaries.

Alpana, my eldest daughter-in-law is continuing the traditions and fasts even in US on Chhath. Yesterday, she called us on completion for our blessings. I hear in Mauritius, people of Bihari origin celebrate Chhath in one big tank there. In Delhi, politicians take a lot of interest to get Ghaats of Yamuna River cleaned. May be one day, the people fasting for Chhath will take Yamuna cleaning task in their hands and serve the city and its regions.

However, we still wait for Mansa to bring in the ‘prasad’ that Yamuna asked her for. And Mrs Lakshman Singh wished me today in morning: ‘Happy Chhath‘ from her Kolkata residence.

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