Indian Holocaust My Father`s Life and Time - THREE HUNDRED Twenty One
Palash Biswas
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ndia and the Knowledge Economy: Leveraging Strengths and Opportunities | ||
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| A World Bank report, India and the Knowledge Economy: Leveraging Strengths and Opportunities, was launched in Washington DC on June 28, 2005.
Buy the Book Online | Download the Overview | Brief Summary of Recommendations
New World Bank Report Says India Can Make Even Greater Strides in Growing its Economy and Reducing Poverty.
See all K4D resources on India and the Knowledge Economy
One of the world's largest economies, India has made enormous strides in its economic and social development in the past two decades. But according to a new World Bank report, India can do much more to leverage its strengths in today's knowledge-based global economy.
India and the Knowledge Economy: Leveraging Strengths and Opportunities argues that, when supported by the right kind of government policy incentives, the country can increase its economic productivity and the well-being of its population by making more effective use of knowledge.
"This report serves as an important Bank input into the domestic consultation and reform process which will move India further into the global knowledge economy of the twenty-first century," says Michael Carter, World Bank Country Director for India. "The World Bank recognizes that making effective use of knowledge in any country requires developing appropriate policies and institutions to promote entrepreneurship and efficient use of knowledge."
Grooming World Class Knowledge Workers
India already has many highly educated and vocationally qualified people who are making their mark, domestically and globally, in science, engineering, information technology (IT), and research and development (R&D). But they represent only a small fraction of the total population.
"To create a sustained cadre of 'knowledge workers,' India needs to make its education system more demand driven to meet the emerging needs of the economy and to keep its highly qualified people in the country," suggests Anuja Utz, co-author of the report. "This means raising the quality of all higher education institutions, not just a few world-class ones, such as the Indian Institutes of Technology."
Some ways of making the system more demand driven are to allow the private sector to fill the burgeoning demand for higher education by relaxing bureaucratic hurdles, and through better accreditation systems for private providers of education and training. Increased university-industry partnerships to translate research into applications can yield economic value. Lifelong learning programs can be used to meet the learning needs of all, both within and outside the school system, including using distance learning technologies to expand access to and the quality of formal education and lifelong training programs.
Promoting Innovation
India is becoming a major global source of R&D; about 100 multinational corporations have already set up R&D centers in the country, leading to the deepening of technological and innovative capabilities among Indian firms. But even so, "India is still a relatively closed economy compared with other Asian economies," notes Carl Dahlman, co-author of the report. "India should increasingly tap into the rapidly growing stock of global knowledge through channels such as foreign direct investment, technology licensing, and so on, so that it can catch up to countries like China, where reforms have moved ahead much more rapidly."
An important part of India 's innovation system is the diffusion of modern and more efficient technologies in all sectors of the economy. According to Dr. R.A. Mashelkar, Director General, Council of Scientific and Industrial Research of India, "India is already gaining international repute for its innovations in areas ranging from pharmaceuticals to software. IT will achieve even more as it improves the efficiency of public R&D, increase private R&D, and encourages greater university-industry linkages. It is leveraging traditional knowledge with modern science and exploiting public-private partnerships to support grassroots innovations which can improve the quality of life for the poor. An example is the Computer-Based Functional Literacy program, initiated by Tata Group to overcome illiteracy through innovative use of IT."
Creating a for Center of Excellence Information and Communication Technology
In the telecommunications sector, fierce price competition has resulted in Indian mobile telephony becoming one of the cheapest in the world; more than 47 million people had mobile phones at the end of 2004! India has achieved remarkable global success in the IT sector which accounted for about 3.82 percent of India 's GDP in 2003-04, and provided employment for almost a million people.
But the report notes that the explosive growth of ICTs has been concentrated in urban areas. The government should promote the application and use of ICTs throughout the economy to raise productivity and growth. This requires increasing access to ICTs, such as widespread availability of telephones, including mobile phones, computers, and connectivity to the Internet; enhancing ICT literacy and skills among the population; and developing ICT applications that can provide much-needed social, economic, and government services to citizens.
Moving to Action
This report recognized India 's achievements but sees enormous potential yet to be unleashed. It recommends an India-led process to coordinate and integrate reforms, combining those in the economic and institutional regime with the many initiatives in education, innovation and ICTs.
"This report comes at a very opportune time. It provides a very useful input for discussion by all stakeholders. What is needed is a national vision and the leadership and governance mechanisms to put this into action," notes Arun Maira, Chairman, Boston Consulting Group, India.
Sam Pitroda, Chairman of India's National Knowledge Commission supports this view: "We will take into consideration the analysis and recommendations of the report as we design our own strategy. We look forward to cooperating with the World Bank and other multilateral agencies as well as with think tanks and universities in India and abroad as the Commission works to harness knowledge for India 's development and realize its potential to become a major knowledge power."
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WHILE I ASK THESE QUESTIONS < SOME OF OUR DALIT RIENDS< MIND YOU NOT THE BRAHAMINS<call me i ideologue!
I am not bothered! I have to stand with our Black Untouchable People. and it is my Only Ideology which I must not Betray!
Meanwhile, Mulnivasi Bamcef led by Waman Meshram has Launched a BURN Budget Campaign under the Banner of Bharat Mukti Morcha. I appeal every one to join this Open Forum! As it is the First Time the Ambekaraties do address the Real Crisis and mobilising on Pure Economic Issue!
Here you are!
Tax on perks to be effective from April 2009
The government has notified the new rules for valuing perks like accommodation, conveyance and others given to the salaried class for calculation of their tax liability.Effective from April 1, 2009, the new rule may burn a hole in the pockets of salaried people and replaces the already abolished Fringe Benefit Tax.
Perquisites given by the employer such as residential accommodation, conveyance facility and other benefits to the family of the employee would be added to their salary for income tax purposes.
Earlier, the tax on these perks were paid by the employer in the form of the Fringe Benefit Tax (FBT) that was done away with in the Budget 2009-10 by Finance Minister Pranab Mukherjee.
The perquisites to be included in the taxable salary include residential accommodation given by the employer, expenses on motor car for official or personal use, salaries of the driver, gardener and even sweeper if paid by the employer and confessional education provided to the employee's children. The valuation norms include all of these benefits, as per the notification on the official website of Central Board of Direct Taxes (CBDT).
Taxing numbers: PAN and now, DIN
New Delhi After introducing unique account numbers for taxpayers (PAN) and those for tax deductors (TAN), the government will this fiscal introduce a unique document identification number (DIN) to be quoted on "every" income tax related communication.The department will soon put in place a tech-based mechanism to generate 'DIN' which will not only be allotted to taxpayers but also the officials of the department from October this year, which will become essential while filing the annual income tax return of the financial year (2010-11).
According to a Central Board of Direct Taxes "insertion of new Section 282B" in the I-T Act, DIN will be mandatory "in respect of every notice, order, letter or any correspondence" with the department.
"The number will be generated by the department and will be useful essentially for error-free filing of tax returns, claiming refunds and other communication with the department by the assesses," a senior Finance Ministry official said.
Taxpayers and tax deductors currently are required to quote Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) among others for filing returns with the department.
Assesses will not be put to any trouble as the numbers will be generated and allotted by the department itself. Once allotted, the assessee will have to quote it thereon. I-T officials will also be allotted the numbers as the effort is to streamline the process, the official said.
According to section 282B of the Income Tax Act which deals with DIN -- "in respect of every notice, order, letter or any correspondence issued by him (I-T authority) to any other income tax authority or assessee or any other person and such number shall be quoted thereon.
"It is further provided that where the notice, order, letter or any correspondence issued by any income-tax authority does not bear a Document Identification Number, such notice, order, letter or any correspondence shall be treated as invalid and shall be deemed never to have been issued."
DIN is aimed at bringing more transparency in tax administration as the whole exercise involves a number of documents and proformas. Apart from the regular filing of taxes, a taxpayer deals with the department for various other financial services which DIN will help streamline, the official said.
According to the I-T department, "it is also provided that every document, letter or any correspondence, received by an income-tax authority or on behalf of such authority, shall be accepted only after allotting and quoting of a computer generated Document Identification Number.
Further, it is provided where the document, letter or any correspondence received by any income-tax authority or on behalf of such authority does not bear Document Identification Number, such document, letter or any correspondence shall be treated as invalid and shall be deemed never to have been received."
Meanwhile,Devout Hindus in different parts of the country offered prayers in the temples on the occasion of Ram Navami, the birth anniversary of Lord Rama, on Wednesday (March 24).
Also hndreds of devotees visited the famous Kanak Bhawan Temple in Ayodhya.
"Hundreds of people visited the temple and sought blessings of Lord Rama. It is believed that if a person seeks the blessings of Lord Rama on this day, he attains salvation," said Dev Morari Bapu, a priest at the Kanak Bhawan Temple.
In Srinagar, temples were lit with lamps to mark the occasion.
Devotees of all age groups thronged the temples even before the dawn carrying offerings of sweets, flowers and fruits.
"We want to follow the teachings of Lord Rama. We want that there should be peace all around. I pray on this day that violence around the world should end and all the disturbances should come to an end," said A K Raj, a devotee.
In north India, Ramnavami festival also marked the end of the nine days of the Navaratri festival, during which many devotees observe fast to honour the goddess Durga.
According to Hindu legend, Rama was born as an incarnation of Vishnu, the preserver of the universe, to eradicate evil from the earth.
Ram Navami falls on the ninth day of the first fortnight of the Hindu month of Chaitra, which usually falls in the month of March or April.
N-chaos: India can dip into foreign fund
The contentious nuclear liability bill, if passed by Parliament, would enable India to tap international corpus of funds to pay compensation in case of a nuclear accident, officials said.A Civil Liability for Nuclear Damage Law is pre-requisite for India to be part of the Convention on Supplementary Compensation (CSC) adopted by UN nuclear watchdog -- International Atomic Energy Agency in 1997.
The CSC makes the operator of the nuclear installation and not the suppliers, liable in the event of an accident and caps the level of compensation at not less than 300 million Special Drawing Rights (SDRs), equivalent to nearly USD 460 million.
Similarly, the Civil Liability for Nuclear Damage Bill -- 2010, which the government forced to defer, seeks to put a financial cap on compensation at Rs 2,100 crore (300 million SDRs) and limits the liability of the operator to Rs 500 crore. The government has to share the rest of amount.
If more funds are needed, government could tap into an international corpus proposed to be set up under the CSC and draw an additional about USD 500 million.
However, the CSC is yet come into force as it has been ratified by only four countries -- the US, Argentina, Morocco and Romania.
According to IAEA, at least five states with a minimum of 4,00,000 MWe of installed nuclear capacity have to ratify the Convention for it to come into force.
The other international conventions that provide such indemnity to the global nuclear industry are the Paris Convention (1960) and the Vienna Convention, which was revised during an IAEA conference in Vienna in September 1997.
Meanwhile, many countries who are not yet party to any Convention have their own legislative regimes for nuclear liability.
In the US, the nuclear liability is addressed by its 1957 Price Anderson Act, the world's first comprehensive nuclear liability law, that calls for USD 10 billion in cover without cost to the public or government and without fault needing to be proven.
According to the World Nuclear Association (WNA), an international organisation that promotes nuclear energy, the federal law covers power reactors, research reactors, and all other nuclear facilities.
In the UK, the Energy Act 1983 addresses the nuclear liability and in 1994, it set a new limit of 140 million pounds for each major installation, so that the operator is liable for claims up to this amount and must insure accordingly.
Germany has unlimited operator liability that requires EUR 2.5 billion security which must be provided by the operator for each plant. This security is partly covered by insurance, to EUR 256 million.
Petrol may go dearer by 41 paise/litre
Faced with the prospect of revenue loss on fuel jumping to Rs 70,000 crore next fiscal, Petroleum Ministry called for "harsh decisions" even as it hinted that cleaner Euro-IV fuel in 13 metro cities will cost more from April 1.Oil Secretary S Sundareshan said Euro-IV petrol and diesel will be supplied in 13 designated cities, including Delhi, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad and Ahmedabad from April 1.
State-owned oil firms have invested over Rs 40,000 crore in upgrading their refineries to produce cleaner Euro-IV grade fuel.
He said international parity price for Euro-IV petrol is Rs 0.46 a litre more than that of the Euro-III grade fuel in 13 big cities while diesel will have to cost Rs 0.26 a litre more.
Sundareshan hinted that the additional cost could be passed on to the consumers.
"This (price increase) is not on the basis of capital cost incurred but international parity cost," he said, adding hike in fuel rates required to cover for the capex would have been much higher.
The Secretary said Indian Oil, Bharat Petroleum and Hindustan Petroleum would end the current fiscal with a revenue loss of over Rs 45,000 crore.
"If we do not increase price, the under recoveries (revenue loss) in 2010-11 would be Rs 70,000 crore," he said. Excluding the Euro-IV cost, the three oil firms currently incur Rs 6 a litre loss on sale of petrol, Rs 4.06 per litre on diesel, Rs 16.91 a litre on kerosene and LPG at a loss of Rs 267.39 per cylinder.
"Hard decisions are necessary," he said. As per fuel specifications committed to the Supreme Court, oil firms are to sell petrol and diesel meeting the stringent Euro-IV specifications in 13 major cities from April 1 while Euro-III grade fuel is to be supplied in the rest of the country.
The Euro IV standard specifies a maximum of 50 parts per million of sulfur in petrol and diesel. Euro-III fuel specifications call for a maximum of 350 parts per million.
'Live-in relationship, pre-marital sex not an offence'
2010-03-23 20:00:00
Last Updated: 2010-03-24 10:46:06
New Delhi: In an observation that will cheer votaries of pre-marital sex and live-in-partners, the Supreme Court on Tuesday opined that a man and woman living together without marriage cannot be construed as an offence.
"When two adult people want to live together what is the offence. Does it amount to an offence ? Living together is not an offence. It cannot be an offence," a three judge bench of Chief Justice K G Balakrishnan, Deepak Verma and B S Chauhan observed.
The court said even Lord Krishna and Radha lived together according to mythology.
The apex court said there was no law which prohibits live-in relationship or pre-marital sex.
The apex court made the observation while reserving its judgement on a special leave petition filed by noted south Indian actress Khusboo seeking to quash 22 criminal cases filed against her after she allegedly endorsed pre-marital sex in interviews to various magazines in 2005.
The judges grilled the counsel for some of the complainants in the case and repeatedly stressed that the perceived immoral activities cannot be branded as offence.
The argument of the counsel was that her comments allegedly endorsing pre-marital sex would adversely affect the minds of young people leading to decay in moral values and country's ethos.
"Please tell us what is the offence and under which section. Living together is a right to life," the apex court said apparently referring to Article 21 which granted right to life and liberty as a Fundamental Right.
Discuss: Will it adversely affect young people?
The apex court further said the views expressed by Khusboo were personal.
"How does it concern you. We are not bothered. At the most it is a personal view. How is it an offence? Under which provision of the law ?" the bench asked the counsel.
The apex court further asked the complainants to produce evidence to show if any girls eloped from their homes after the said interview.
"How many homes have been affected can you tell us," the Bench asked while enquiring whether the complainants had daughters. When the response was in the negative, they shot back, "Then, how are you adversely affected?"
Khusboo had approached the apex court after the Madras High Court in 2008 dismissed her plea for quashing the criminal cases filed against her.
Modi likely to appear before SIT on Mar 27
2010-03-24 09:50:00
Last Updated: 2010-03-24 10:02:45
Ahmedabad: Gujarat Chief Minister Narendra Modi is likely to be questioned by the Supreme Court-appointed Special Investigation Team, probing the 2002 riots, on March 27, SIT sources said on Wednesday.
Confusion prevailed over the appearance of Modi before the SIT with the panel chief saying he would appear on March 21. But Modi, in an open letter, claimed he was not summoned on the date.
Modi to cooperate with SIT: Arun Jaitley
Sources on Wednesday said he is likely to be questioned on March 27. However, SIT Chief R K Raghavan refused to comment on the date.
"It is a privilege communication between the SIT and the witness and I cannot comment on this," he said.
Modi within his rights not to appear before SIT: Activists
SIT has summoned Modi to depose in connection with a complaint of Zakia Jaffery, widow of former Congress MP Eshan Jaffery who was killed in Gulburg society riot case of 2002 along with 69 others.
Top 2 floors of Stephen Court were illegal: Police
2010-03-24 12:20:00
Last Updated: 2010-03-24 14:24:23
Kolkata: The top two floors of Stephen Court, gutted in a major fire, were constructed illegally, city police commissioner Goutam Mohan Chakraborty said on Wednesday.
"The fifth and sixth floors of the building were constructed illegally. These were later regularised," he told reporters, adding that the promoter who built the two floors was absconding after Tuesday's blaze.
CM visits Stephen Court
The police and fire brigade personnel had faced difficulties in conducting rescue operations inside Stephen Court as they were not provided the building plan, Chakraborty said.
"We had asked the building association president for a plan of the building and a list of tenants, but these were not provided to us. If we had the list, we could have saved some more people," he said.
Park Street blaze: Death toll rises to 24
Chakraborty said a number of people tried to escape through the roof of the building, but could not do so as the collapsible gate to the roof was locked.
Meanwhile, fire brigade sources said the fire could have been possibly caused by a leaking power cable of the building's elevator.
Sify.com
India satisfied with US cooperation on Headley, Chidambaram says!PM expects 9 percent growth in financial year 2011-12. Kapil Sibal EMERGES Grand Master in Economic ethnic Cleansing Game as he Implements MANUSMRITI Rule Afresh to Deny Indigenous Aboriginal Minority Communities, the Eighty Five Percent Masses deprived of Purchasing Power in Free Market. He introduced KNOWLEDGE ECONOMY in India. Pawar and SIBAL with Kamal Nath beside the FATAL Trio of Manmohan, Pranab and Chidambaram, NOT to mention extraconstitutional India Incs Dominance in the Government have engaged in Revitalisation of Post Modernn Manusmriti Apartheid Zionist Brahaminical Rule in Indian Geopolitics!
destroyed Indian Agriculture while Chidamabaram has launched an Unprecedented Corporate war of Holocaust, Displacement, Deportation and Exodus. Now, MOILY plays his Role as well!
Thus,Govt rules out OBC quota in Women's Bill!Union Law Minister M Veerappa Moily on Wednesday ruled out providing reservation for Other Backward Castes in the Women's Reservation Bill, saying data on OBCs is not available at the national level.
Moily said there would be no change in the bill compared to that passed in the Rajya Sabha and exuded confidence that it would get through the Lok Sabha also in April.
"There is no provision in the Constitution to provide for OBC reservation, particularly for political reservation, even though for employment and education, reservation is provided," he told reporters in Bangalore.
Moily said census on OBCs was not pursued since 1931. "So unless these data are available, it is not possible to pick up who's OBC and who's not OBC."
He opined that if Parliament passed the bill with amendment providing OBC quota in the women's legislation, the court would strike it down "from day one".
Asked about Samajwadi Party chief Mulayam Singh Yadav's comment that only women belonging to affluent class would get the benefit of the bill, he said a "similar argument" was aired when 73rd and 74th Constitution amendment bill providing reservation for women in Panchayat Raj institutions was enacted.
'It is a fact that he was employed as an agent by the Drug Enforcement Agency (DEA) of the US government and in 1998 as a part of a deal (somewhat similar to the plea bargain now) his 10-year-sentence for drug smuggling was reduced. He has been under FBI surveillance having agreed to work as an undercover operator,' she said.
She said if India was indeed denied access to Headley 'we shall not know about the roles played by the so called state and non state actors (in Pakistan)'.
'This is a failure of Indian diplomacy. (Prime Minister) Manmohan Singh is going too much out of his way to befriend the US. We are not being treated as equal partners. The government of India has failed to assert its sovereign right in not obtaining access to have a custodial interrogation of the mastermind of the Mumbai terror attack.'
Fearing that India would be denied access to David Headley, the Bharatiya Janata Party on Wednesday said the US was pursuing the 'help-the-ally-at-any-cost' policy and did not want to expose Pakistan's involvement in terror activities.
'The BJP's apprehension that India will be denied access to the most wanted terrorist, Headley, is possibly becoming a reality,' party spokesperson Nirmala Sitharaman said on Wednesday.
Sitharaman said US Ambassador Timothy Roemer's remark that no decision to provide access to interrogate Headley has been taken 'has only added to our fear'.
The statement comes as officials Wednesday expressed confidence that India would be given direct access to interrogate the Pakistani-born US national who has confessed of having schemed the 2008 Mumbai terror attack with LeT men in Karachi.
India confident of getting 'direct' access to Headley
Headley has also admitted that he attended LeT terror camps in Pakistan on five occasions.
Headley's cooperation with US prosecutors came after he was assured that he would be spared of the death sentence and prevented from being extradited to India or Denmark, where he had also plotted an attack on the Jyllands-Posten newspaper office that published cartoons of the Prophet.
'Pakistan has been and is an ally of the US. Our worry is that the US will not permit revealing anything that projects, in this case without a shred of doubt, Pakistan's involvement in perpetrating terror in the subcontinent,' Sitharaman said.
'This 'help-the-ally-at-any-cost' attitude of the US is seen also in the statement made by (Secretary of State) Hillary Clinton,' the BJP spokesperson said.She was referring to Clinton's statement that the US may consider having a nuclear agreement with Pakistan similar to the one it has with India.
The BJP feared Headley 'may be a rogue agent'.
Fearing that India would be denied access to David Headley, the Bharatiya Janata Party on Wednesday said the US was pursuing the 'help-the-ally-at-any-cost' policy and did not want to expose Pakistan's involvement in terror activities.
'The BJP's apprehension that India will be denied access to the most wanted terrorist, Headley, is possibly becoming a reality,' party spokesperson Nirmala Sitharaman said on Wednesday.
Sitharaman said US Ambassador Timothy Roemer's remark that no decision to provide access to interrogate Headley has been taken 'has only added to our fear'.
The statement comes as officials Wednesday expressed confidence that India would be given direct access to interrogate the Pakistani-born US national who has confessed of having schemed the 2008 Mumbai terror attack with LeT men in Karachi.
India needs at least 800 more universities in addition to its current number of 480 to boost higher education, Human Resource Development Minister Kapil Sibal said on Wednesday.Unless there is a huge pool of qualified human resource, there will be 'mismatch between economy and the potential that serve the economy', he said.This is the first ever contact group meeting of parliamentarians on education organised by the Unesco for countries like India, Bangladesh, Bhutan, the Maldives, Nepal and Sri Lanka.
'Currently the gross enrolment ratio (GER) in India is 12.4 percent, and we intend to take it to 30 percent in the next few years,' Sibal said at an education conference organised by the UN Educational, Scientific and Cultural Organisation (Unesco).
India will have world's most educated people by 2030: Sibal
This means, he said, only 12.4 students from every 100 students eligible are pursuing higher education in India. The effort is to take this tally to at least 30 for every 100 students in the age group of 18 to 24.
'For this, there is a need for 800 more universities and 35,000 more colleges,' he said. The minister said India was far behind the global average of GER, which is 23 percent.
'In developed countries, it is above 40 percent. In some countries it is 53 percent,' he said, adding that for economies growing at 8-9 percent per annum the demand for quality manpower is high.
IPL will not go public; We don't need money: Modi
New Delhi Indian Premier League will not go for an Initial Public Offer and listing on the stock exchanges for raising money, its Chairman and Commissioner Lalit Modi said on Wednesday."Why should we go for an IPO? We don't want to raise money," Modi said.
He was responding to a query whether he would like to leverage from the huge success of IPL, which is expected to see revenues doubling this year from less than USD 500 million in the last season, and go public.
The success of IPL as a business idea has also catapulted its brand value to USD 4.13 billion this season, more than double from last year's USD 2.03 billion, according to brand consultancy firm Brand Finance.
It may be recalled that that after winning Team Pune of IPL with a staggering bid of Rs 1,702 crore, Sahara Group Chief Subroto Roy had said that IPO was an option in a year or two -- just like many European football clubs including AS Roma and Juventus.
Modi said that public offering and listing is usually resorted to for garnering funds for business and added that IPL was a huge success and revenue generator and there was no need for collecting money through IPO route.
At the same time, he explained that IPL was not a subsidiary of of the Board for Control of Cricket in India, which is a charitable organisation. But by virtue of being a sub-committee of BCCI, it was not in the mandate of IPL to go public, he added.
"The tournament is still on and we have not reached the final number... Yes, it will be more than a billion dollar (about Rs 4,700 crore) this season ... last season we did USD 450 dollar.
"Thereafter, we would double every year," Modi said and asserted that as long as the fans keep coming to IPL, the league's brand value would increase and hence the revenue. Revenue for Sony, the official broadcaster, alone would be about Rs 700 crore to Rs 800 crore, he said brushing aside the criticism that the advertising rates for the IPL's third season were very high.
"There may be some advertisers who feel that way but there are lot many others who are willing to join us," he said pointing out that the huge success of the tournament in terms of TV viewership would certainly entice the advertisers.
"There is no other sporting event across the world generating more eyeballs than the IPL," he said, adding that the league was virtually in every part of the world through either broadcasters of through the Internet - via YouTube.
Asked about an independent brand consultancy valuing Brand IPL at at USD 4.13 billion, more than double from last year, Modi said that it was not done by the organisation and "it is indeed valuation given to us by outsiders."
Brand Finance, which came out with IPL brand's latest valuation, said that the brand alone has risen significantly, providing tremendous economic value to its owner - BCCI. It said this demonstrates the exponential value of IPL and the Brand potential in a cricket loving country like India and other global cricketing countries. Although the English Premier League is valued much higher at USD 12 billion, the IPL's valuation has risen above USD four billion in just three years, Brand Finance pointed out.
In terms of brand value or valuation there could be bigger sports club in the West but most of those have negative cash flow, Modi said and pointed out that the English Premier League, though it commands a very high brand value, was facing a USD 800 million deficit.
"Here, we are talking about cash flow and it is growing to grow in future at IPL," he said, while detailing the dynamics of financing of IPL franchises.
Modi said that the IPL teams had no load on them and "we are providing infrastructure and stadium free of cost." Asked about predictions that IPL could not sustain, Modi retorted: "Let them (cynics) say anything. I know the numbers. I know the game. I have delivered. We will continue to deliver."
The success of IPL hinged on the capacity to draw huge crowds, a fact that need not be proven again and again, he said, adding that other factors included that teams were equally placed in terms of finances and capacity to buy the players.
"The level playing field between the teams would make the event more interesting," he said and added that another factor for the success was that the revenue would be proportionate to the number of matches that are played.
This season there are 60 matches and the number would go to 90 by next year and, therefore, the revenue would increase on a pro-rata basis, he said.
Govt aims at GST rollout by April 2011
New Delhi The Centre said it will persuade states to reach a consensus on the Goods and Services Tax so that it can be implemented from April 1 next year."It shall be the endeavour of the Government of India to persuade the state governments and the empowered committee of state finance ministers to reach a consensus so that the GST can be introduced with effect from April 1, 2011," Minister of State for Finance S S Palanimanickam informed the Lok Sabha in a written reply.
He said the implications of the goods and services tax, which will replace most of the indirect taxes at the central and the state level, can be assessed only after the basic design is finalised.
A joint working group comprising officers of the central government, state governments and the Empowered Committee of States Finance Ministers has been constituted to prepare the draft of the constitutional amendments, central GST legislation, model state GST legislation and related rules.
GST implementation has been deferred from its earlier date of April 1, 2010.
Empowered Committee of state finance ministers (EC) has prepared and released the first discussion paper on the Goods and Services Tax in India in November 2009.
Manusmṛti
From Wikipedia, the free encyclopedia
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Manusmṛti or Manusmriti (Sanskrit: मनुस्मृति), also known as Mānava-Dharmaśāstra (Sanskrit: मानवधर्मशास्त्र), is the most important and earliest metrical work of the Dharmaśāstra textual tradition of Hinduism.[1] Generally known in English as the Laws of Manu, it was first translated into English in 1794 by Sir William Jones, an English Orientalist and judge of the British Supreme Court of Judicature in Calcutta.[2] The text presents itself as a discourse given by the sage called Manu to a group of seers, or rishis, who beseech him to tell them the "law of all the social classes" (1.2). Manu became the standard point of reference for all future Dharmaśāstras that followed it.[3]
According to Hindu tradition, the Manusmriti records the words of Brahma.[4] By attributing the words to supernatural forces, the text takes on an authoritative tone as a statement on Dharma, in opposition to previous texts in the field, which were more scholarly.[5]
Contents |
[edit] Date and context
The text shows the obvious influence of previous Dharmasutras and Arthasastric work. In particular, the Manu Smriti was the first to adopt the term vyavaharapadas. These eighteen Titles of Law or Grounds for Litigation make up more than one fifth of the work and deal primarily with matters of the king, state, and judicial procedure.[5] Though most scholars had previously considered the text a composite put together over a long period of time, Olivelle has recently argued that the complex and consistent structure of the text suggests a single author. However, no details of this eponymous author's life are known, though it is likely that he belonged to a conservative Brahmin caste somewhere in Northern India.[3]
A range of historical opinion generally dates composition of the text any time between 200 BCE and 200 CE.[6] After the breakdown of the Maurya and Shunga empires, there was a period of uncertainty that led to renewed interest in traditional social norms.[7] In Thapar's view, "The severity of the Dharma-shastras was doubtless a commentary arising from the insecurity of the orthodox in an age of flux."[8]
The dharma class of texts were also noteworthy because they did not depend on the authority of particular Vedic schools, becoming the starting point of an independent tradition that emphasized dharma itself and not its Vedic origins.[9]
[edit] Structure
The original treatise consisted of one thousand chapters of law, polity, and pleasure given by Brahmā. His son, Manu, learns these lessons and proceeds to teach his own students, including Bhrigu. Bhrigu then relays this information in the Manu Smriti, to an audience of his own pupils.[10]
This original narrative was subdivided later into twelve chapters. There is debate over the effects of this division on the underlying, holistic manner in which the original treatise was written.[11] The book is written in simple verse as opposed to the metrical verse of the preceding dharmasutras. Manu also introduced a unique "transitional verse" which segued the end of one subject and the beginning of the next.
The treatise is written with a frame story, in which a dialogue takes place between Manu's disciple, Bhrigu, and an audience of his own students. The story begins with Manu himself detailing the creation of the world and the society within it, structured around four social classes. Bhrigu takes over for the remainder of the work, teaching the details of the rest of Manu's teachings. The audience reappears twice more, asking first to ask about how Brahmins can be subjected to death, and second to ask the effects of action.[12]
[edit] Table of Contents
This Table of Contents comes from Olivelle's translation of the Manu Smriti and provides the transitional verses between each subject:[13]
[edit] 1. Origin of the World (1.1-119)
[edit] 2. Sources of the Law (2.1-24)
"I have described to you above succinctly the source of the Law, as also the origin of this whole world. Learn now the Laws of the social classes." (2.25)
[edit] 3. Dharma of the Four Social Classes (2.25-11.266)
- 3.1 Rules Relating to Law (2.25-10.131)
- 3.1.1 Rules of Action in Normal Times (2.26-9.336)
- 3.1.1.1 Fourfold Dharma of a Brahmin (2.26-6.97)
"I have explained to you above the fourfold Law of Brahmins, a Law that is holy and brings imperishable rewards after death. Listen now to the Law of kings." (6.97)
- 3.1.1.2 Rules of Action for a King (7.1-9.325)
"I have described above in its entirety the eternal rules of action for the king. What follows, one should understand, are the rules of action for the Vaiśyas and Śūdras in their proper order." (9.325)
- 3.1.1.3 Rules of Action for Vaiśyas and Śūdras (9.325-36)
"I have described above the splendid rules of action for the social classes outside times of adversity. Listen now to the rules for them in the proper order for times of adversity." (9.336)
- 3.1.2 Rules of Action in Times of Adversity (10.1-129)
"I have described above the entire set of rules pertaining to the Law of the four classes. Next, I will explain the splendid rules pertaining to penance." (10.131)
- 3.2 Rules Relating to Penance (11.1-265)
"You have described this Law for the four classes in its entirety, O Sinless One! Teach us accurately the ultimate consummation of the fruits of actions." (12.1)
[edit] 4. Determination Regarding Engagement in Action (12.3-116)
"Bhrgu, the son of Manu and the very embodiment of the Law, said to those great seers: 'Listen to the determination with respect to engagement in action.'" (12.2)
- 4.1 Fruits of Action (12.3-81)
"I have declared to you above all the fruits arising from actions. Listen now to these rules of action for a Brahmin, rules that secure the supreme good." (12.82)
- 4.2 Rules of Action for Supreme God (12.83-115)
"I have explained to you above all the best means of securing the supreme good. A Brahmin who does not deviate from them obtains the highest state." (12.116)
[edit] Nature and Purpose
The Manu Smriti is written with a focus on the "shoulds" of dharma rather than on the actuality of everyday practice in India at the time. Still, its practical application should not be underestimated. Through intermediate forces such as the instruction of scholars, the teachings did indeed have indirect effect on major segments of the Indian population. It is also an invaluable point of common reference in scholarly debates.[14]
It seems likely that the book was written in a manner which was very mindful to the dangers facing the Brahmin community during a time of much change and social upheaval. A renewed alliance between the Brahmin and Kṣatra communities is clearly a goal reflected in the introduction of the vyavahārapadas.[15] The emphasis which this topic receives can be seen as an offering of solidarity from the religious community to the ruling class.
[edit] Commentaries on Manu
There have been numerous commentaries written on the Manu Smṛti. Some of the major commentaries are listed below:
[edit] Bhāruci
Bhāruci is the oldest known commentator on the Manu Smṛti. Kane places him in the late 10th or early 11 century,[16] Olivelle places him in the 8th century,[17] and Derrett places him between 600-650 CE.[17] From these three opinions we can place Bhāruci anywhere from the early seventh century CE to the early eleventh century CE. The surviving portion of Bhāruci's commentary that we have today deals mostly with the duties of the king and whether or not the king can be a source of dharma.
[edit] Medhātithi
Medhātithi is one of the most famous commentators on the Manu Smṛti, and there is some debate regarding the location in which he was writing, but scholars such as Buhler, Kane, and Lingat tend to believe he was from Kashmir or the area around Kashmir. The exact date that Medhātithi was writing is also unclear, and he has been placed anywhere between 820CE and 1050CE.[18]
[edit] Economic Ideas
Economic Ideas Embedded in Manusmriti has been given in detail by Ratan Lal Basu.[19]
[edit] Views and criticism
The work is considered an important source for sociological, political and historical studies. Manu Smriti is one of the most heavily criticized of the scriptures of Hinduism, having been attacked by colonial scholars, modern liberals, Hindu reformists, Dalit advocates, feminists[20] , Marxists and certain groups of traditional Hindus, namely Smartas. Much of its criticism stems from its unknown authority, as some believe the text to be authoritative, but others do not. There is also debate over whether the text has suffered from later interpolations of verses.
In northern/southern India Vaishnavism and Shaivism were the common religious traditions, and the teachings of the Manu Smriti was not as widely followed or well-known.
In 300 BCE, Megasthenes wrote that the people around the Mathura region worshipped Harculas (Hari-Krishna) and followed the Gita as daily life principles. Also Faxian did not mention anything about rigid-ness of the varna systems. Chanakya, the author of Arthashastra, never mentioned any social laws prevailing in the society during the first integrator and Mauryan Emperor Chandragupta's reign.
The Manu Smriti was one of the first Sanskrit texts studied by the British. It was first translated into English by the founder of indology, Sir William Jones. His version was published in 1794.[21] British administrative requirements encouraged their interest in the Dharmashastras, which they believed to be legal codes. In fact, these were not codes of law but norms related to social obligations and ritual requirements.[22] According to Avari:
The text was never universally followed or acclaimed by the vast majority of Indians in their history; it came to the world's attention through a late eighteenth-century translation by Sir William Jones, who mistakenly exaggerated both its antiquity and its importance. Today many of its ideas are popularised as the golden norm of classical Hindu law by Hindu universalists. They are, however, anathema to modern thinkers and particularly feminists.[23]
The "Law of Manu" was cited favorably by the German philosopher Friedrich Nietzsche, who deemed it "an incomparably spiritual and superior work" to the Christian Bible. He observed that "the sun shines on the whole book" and attributed its ethical perspective to "the noble classes, the philosophers and warriors, [who] stand above the mass."[24] However, he also criticized it for its abusive treatment of the chandala, claiming that "this organization too found it necessary to be terrible."[25]
Surendra Kumar, who counts a total of 2,685 verses, finds that only 1,214 are authentic, the other 1,471 being interpolations on the text.[26] In reply to the criticism of the sudra caste, the verses critical of the sudras and women are considered to be later interpolations, but not later than Adi Shankara (7th-8th century CE). The law in Manu Smriti also appears to be overtly positive towards the brahmin (priest) caste in terms of concessions made in fines and punishments. The stance of the Manu Smriti about women has also been debated. While certain verses such as (III - 55, 56, 57, 59, 62) glorify the position of women, other verses (IX - 3, 17) seem to attack the position and freedom women have. The education of women is also discussed in the text. Certain interpretations of Verse (IX - 18) claim that it discourages women from reading Vedic scriptures. Verse (II - 240), however, allows women to read Vedic scriptures. Similar contradictory phrases are encountered in relation to child marriage in verses (IX - 94) and (IX - 90).
In his book Revolution and Counter-Revolution in India, Dalit leader B. R. Ambedkar asserted that Manu Smriti was written by a sage named Brigu during the times of Pushyamitra of Sangha in connection with social pressures caused by the rise of Buddhism.[27] However, historian Romila Thapar considers these claims to be exaggerations. She writes that archaeological evidence casts doubt on the claims of Buddhist persecution by Pushyamitra.[28] Support of the Buddhist faith by the Sungas at some point is suggested by an epigraph on the gateway of Bharhut, which mentions its erection "during the supremacy of the Sungas"[29] Hinduism does not evangelize.[30]
However, not all Hindus agree with the criticisms of the text, or the assertion that the Manu Smriti is not authoritative. Some prominent Hindu figures, such as Swami Dayananda Saraswati[31] and A.C. Bhaktivedanta Swami,[32] hold the text to be authentic and authoritative. Other admirers of the text have included Annie Besant, P.D. Ouspensky, Pandurang Shastri Athavale and Sarvepalli Radhakrishnan. Friedrich Nietzsche is noted to have said "Close the Bible and open the Manu Smriti. "It has an affirmation of life, a triumphing agreeable sensation in life and that to draw up a lawbook such as Manu means to permit oneself to get the upper hand, to become perfection, to be ambitious of the highest art of living"[33]
[edit] Notes
- ^ See Flood 1996: 56 and Olivelle 2005.
- ^ Jones's translation is available online as The Institutes of Hindu Law: Or, The Ordinances of Manu, Calcutta: Sewell & Debrett, 1796.
- ^ a b Olivelle, "Literary History," p. 16.
- ^ Olivelle(2004), p. xx.
- ^ a b Olivelle, Literary History, p. 17.
- ^ For composition between 200 BCE and 200 CE see: Avari, p. 142. For dating of composition "between the second century BCE and third century CE" see: Flood (1996), p. 56. For dating of Manu Smriti in "final form" to the second century CE, see: Keay, p. 103. For dating as completed some time between 200 BCE and 100 CE see: Hopkins, p. 74. For probable origination during the second or third centuries AD, see: Kulke and Rothermund, p. 85. For the text as preserved dated to around the 1st century BCE. see: Encyclopedia Britannica Concise, http://concise.britannica.com/ebc/article-9371223/Manu-smrti, retrieved 2007-06-24
- ^ For significance of post-empire social uncertainty as a factor in the development of the Code of Manas, see: Kulke and Rothermund, p. 85.
- ^ Tharpar (2002), p. 279.
- ^ For the dharmashastras, including Manu Smriti, as the starting point for an independent tradition not dependent on Vedic origins, see: Hopkins, p. 74.
- ^ Olivelle(2004), pp. xxi-xxii.
- ^ Olivelle(2004), pp. xxvii.
- ^ Olivelle(2004), p. xxv.
- ^ Olivelle(2004), pp. xxviii-xxix.
- ^ Olivelle(2004), p. xxli.
- ^ Olivelle, Literary History, p. 19.
- ^ Kane, P. V., History of Dharmaśāstra, (Poona: Bhandarkar Oriental Research Institute, 1975), Volume I, Part I, 566.
- ^ a b Olivelle, Patrick, "Dharmaśāstra: A Literary History", 29.
- ^ Kane, P. V., History of Dharmaśāstra, (Poona: Bhandarkar Oriental Research Institute, 1975), Volume I, Part II, 583.
- ^ Ratan Lal Basu & Rajkumar Sen, 2008, Ancient Indian Economic Thought, Relevance for Today, ISBN 81-316-0125-0, Rawat Publications, New Delhi
- ^ For objections to the work by feminists, see: Avari, pp. 142-143.
- ^ For Manu Smriti as one of the first Sanskrit texts noted by the British and translation by Sir William Jones in 1794, see: Flood (1996), p. 56.
- ^ For British interest in Dharmashastras due to administrative needs, and their misinterpretation of them as legal codes rather than as social and ritual texts, see: Thapar (2002), pp. 2-3.
- ^ Avari, p. 142.
- ^ Friedrich Nietzche, The Antichrist (1888), 56-57.
- ^ Friedrich Nietzche, Twilight of the Idols (1888).
- ^ Surendra Kumar, Vishuddha Manusmriti, (Arsh Sahitya Prachar Trust, Delhi, Fourth Edition), p. 5.
- ^ Revolution and Counter-Revolution in India
- ^ Romila Thapar, Asoka and the Decline of the Mauryas, Oxford University Press (1960) p. 200.
- ^ John Marshall, "An Historical and Artistic Description of Sanchi", from A Guide to Sanchi, citing p. 11. Calcutta: Superintendent, Government Printing (1918). Pp. 7-29 on line, Project South Asia.
- ^ K. V. Rao, Socialism, Secularism, and Democracy in India, pp. 28-30. Nagendra K. Singh, Enforcement of Human Rights in Peace and War and the Future of Humanity, p. 35. Martinus Nijhoff (1986) ISBN 9024733022
- ^ The Light of Truth, Chapter 4
- ^ Bhagavad Gita As It Is, Chapter 16 Text 7 - "...Even up to today, those who are Hindu follow the Manu-samhita..."
- ^ Friedrich Nietzsche, The Will to Power, vol. 1.
[edit] References
- Flood, Gavin (1996). An Introduction to Hinduism. Cambridge: Cambridge University Press. ISBN 0-521-43878-0.
- Hopkins, Thomas J. (1971). The Hindu Religious Tradition. Belmont, California: Wadsworth Publishing Company.
- Keay, John (2000). India: A History. New York: Grove Press. ISBN 0-8021-3797-0.
- Kulke, Hermann; Rothermund, Dietmar (1986). A History of India. New York: Barnes & Noble. ISBN 0-88029-577-5.
- Olivelle, Patrick (2005). Manu's Code of Law: A Critical Edition and Translation of the Mānava-Dharmaśāstra. Oxford: Oxford University Press. ISBN 0-195-17146-2.
- Thapar, Romila (2002). Early India: From the Origins to AD 1300. Berkeley, California: University of California Press. ISBN 0-520-24225-4.
- Translation by G. Bühler (1886). Sacred Books of the East: The Laws of Manus (Vol. XXV). Oxford. Available online as The Laws of Manu
"The Laws of Manu". Catholic Encyclopedia. New York: Robert Appleton Company. 1913. http://en.wikisource.org/wiki/Catholic_Encyclopedia_(1913)/The_Laws_of_Manu. - Olivelle, Patrick (2004). The Law Code of Manu. New York: OUP. ISBN 0192802712.
- Olivelle, Patrick (to be published). "Dharmasastra: A Literary History". in Lubin, Timothy; Krishnan, Jayanth; and Davis, Jr., Donald R.. Law and Hinduism: An Introduction. Cambridge University Press.
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British security experts to help Indian forces during Games
2010-03-24 19:20:00
Last Updated: 2010-03-24 19:31:16
London: Britain will send a high-level team of security experts to New Delhi during the Commonwealth Games this year to assist the Indian security forces, Home Minister P Chidambaram has said.
"They (UK) are going to send a team to assist Indian forces for the Commonwealth Games. I said yes," Chidambaram, who was in the UK on an official visit, said last night before leaving for home.
Chidambaram said issues related to police cooperation and security of Commonwealth Games figured during his meeting with his British counterpart Alan Johnson.
"We discussed co-operation. He suggested an MoU on police co-operation. I said yes. There is nothing wrong with the MoU, but we must have more practical cooperation."
"There are a number of areas where we can co-operate at practical levels between the agencies, forensic science labs, our scientists and technicians can get a chance to work with their scientists and technicians," the Home Minister, who also met Foreign Secretary David Miliband, said.
After the meeting yesterday, Johnson said he had a productive meeting with Chidambaram "where we discussed a range of issues including counter-terrorism, migration, organised crime and police cooperation."
Chidambaram also had a meeting with the Prime Minister's Foreign Policy Advisor Simon McDonald.
"They had a constructive discussion on a range of bilateral and foreign policy issues, building on the strong UK-India relationship," a Downing Street spokesman said.
The Home Minister also had indepth discussions with chiefs of key counter-terrorism and security institutions including Mi5 and Mi6, Britain's internal and external intelligence agencies and the Scotland Yard.
N-deal, India talks on Pakistan wish list; US non-committal
2010-03-24 08:50:00
Last Updated: 2010-03-24 11:24:07
Washington: Pakistan is going into a strategic dialogue with the US with a long wish list, including an India-type civil nuclear deal and a direct Washington role in reviving the peace process with New Delhi. But the US is non-committal.
Though the State Department declined to acknowledge that Pakistan had made the demands in a 56-page document sent to the US ahead of Wednesday's talks, the Wall Street Journal citing unnamed American officials suggested it was an implicit offer to crack down in return on the Afghan Taliban.
Pakistan seeks benefits from US cooperation
'As far as I know, we have not been talking to Pakistan about a civilian nuclear deal. If Pakistan brings it up during the course of the meetings in the next two days, we'll be happy to listen,' spokesman Philip J. Crowley told reporters on Tuesday.
Secretary of State Hillary Clinton, who will be co-chairing the dialogue with Pakistan Foreign Minister Shah Mahmood Qureshi, too told the Pakistani media that Islamabad may raise the nuclear deal issue, but she would not 'prejudge or preempt' the outcome.
'I'm sure that that's going to be raised and we're going to be considering it, but I can't prejudge or pre-empt what the outcome of our discussions will be, except to say that this Strategic Dialogue is at the highest level we've ever had between our two countries,' she said in an interview with Pakistan's Express TV Group.
She also seemed to rule out a direct US role in Pakistan's water dispute with India or other problems with its South Asian neighbour.
Pakistan wants to question nuclear scientist
'Well, usually, where there is an agreement, as there is between India and Pakistan on water, with mediation techniques, arbitration built in, it would seem sensible to look to what already exists to try to resolve any of the bilateral problems between India and Pakistan,' Clinton told Dunya TV.
'But in the course of the strategic dialogue, what we want to do is focus on the problem. If the problem is water or agriculture or energy, without looking externally, as we do in our other strategic dialogues.
'And our strategic dialogue with Pakistan... is what we want to build and really put on a strong footing for the future,' she said.
However, the primary focus of the talks is expected to be security issues and the fight against the Taliban in Afghanistan with Defence Secretary Robert M. Gates, the chairman of the Joint Chiefs of Staff, Adm Mike Mullen, Pakistani army chief Gen Ashfaq Pervez Kayani and Lt Gen Shuja Pasha, head of Pakistan's spy agency joining the talks.
Qureshi, who was on Capitol Hill Tuesday, meeting with members of Congress in advance of Wednesday's talks, indicated as much. He expected the day-long series of meetings to result in a fundamental change in the US-Pakistani relationship, and that could include a further expansion of military relations.
Pakistan's civilian government and the military had a 'very clear plan' for what needed to be done, said Qureshi. 'We articulated that collectively ... what the Pakistani priorities are.'
But the Pentagon played down the chance of any big announcement of fresh aid at the end of the talks, saying the dialogue would focus on the bolstering long-term bilateral ties.
'I would not look to this, at the end of it, for there to be some great announcement about any hard items that are being produced as a result of the conversations,' Pentagon Press Secretary Geoff Morrell told reporters. 'This is a dialogue designed to produce a better long-term strategic relationship ... this is not simply about asking and receiving items.'
Strategic talks with Pak not at India's expense: US
2010-03-24 10:10:00
Last Updated: 2010-03-24 11:35:32
Washington: Suggesting that its strategic dialogues with various countries were not a zero-sum game, the US has stressed that its expanded relationship with India or Pakistan does not come at the expense of one or the other.
'We have spent a lot of time trying to convince all countries in the region that ultimately improved relations with the United States and with others in the region is in everyone's interest,' State Department spokesman Philip J. Crowley told reporters on Tuesday.
N-deal, India talks on Pakistan wish list; US non-committal
'And we continue to make that clear' he said when asked what impact would Wednesday's strategic dialogue with Pakistan have on US ties with India and Afghanistan.
'We have warm and expanding relations with Pakistan. We have warm and expanding relations with India. We have warm and expanding relations with Afghanistan,' he said adding, 'It represents the growing importance of South Asia to our security and our interests globally.'
'Usually when this comes up, there's kind of this sense that it's a zero-sum game; it's not; that if we have an expanding agenda with one country, it somehow comes at the expense of others,' Crowley said.
US Assistant Secretary Robert Blake, Crowley said, had been to the South Asian region 'and I think is trying to help various countries understand the context within which these expanded dialogues with all of the countries continue and are in everyone's interest.'
Pakistan seeks benefits from US cooperation
Asked if the dialogue would lead to an expanded military relationship with Pakistan, Crowley said: 'We've had a extensive military-to-military relationship and expansive cooperation for a number of years. I think our emphasis primarily is bringing the level of civilian cooperation up to the existing level of military cooperation.'
'But clearly, one of the key areas in our relationship is the security dimension because we have a shared threat.'
Expressing appreciation for the 'efforts that Pakistan has taken in recent years to address a threat that is within their borders and is a threat to them as well as to the region as well as to us,' Crowley said, 'To the extent that Pakistan comes forward with further requirements, we will obviously entertain those.'
Retailers tread warily into cash-and-carry
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Reuters
Posted: Mar 24, 2010 at 1258 hrs ISTMumbai Retail firms are making a cautious entry into the cash-and-carry, or wholesale trading, format, betting on a huge demand base of unorganised independent stores, and in a bid to lure foreign investments.
Nearly 80 per cent of India's $450-billion retail sector is made up of small family-run shops, according to consulting firm A.T. Kearney. This represents a huge business opportunity for cash-and-carry ventures.
"There are roughly about 12 million small retail outlets, or kiranas, as we call them in the country, and that is the customer base they are trying to target," said Anil Rajpal, vice-president consumer goods and retail at Technopak Consultants.
"Also, the existing distribution models held by FMCG companies have been able to saturate only the metro cities, and as far as tier-2 and tier-3 cities are concerned there is ample scope for penetration levels to increase," he said.
Indiabulls' retail arm Store One Retail last month approved a venture into wholesale trading, while global investor TPG, which reportedly put in a bid for debt-hit Vishal Retail plans to convert it into a cash-and-carry.
Future group, which runs India's biggest retailer, Pantaloon Retail, is said to be in tie-up talks with French retailer Carrefour, which plans to start operations in India by setting up cash-and-carry outlets.
Aditya Birla Retail, part of the Aditya Birla Group, with large back-end facilities such as warehouses, distribution centres and supply chains has also lined up similar plans.
"We are ready with the necessary infrastructure. In fact, we have more than 600,000 square feet of back-end space which can be used for a cash-and-carry venture," said Thomas Varghese, chief executive officer of Aditya Birla Retail.
Indian allows foreign retailers to enter retail through franchise arrangements with local players, and are allowed to own up to 51 per cent in single-brand retail, while 100 per cent ownership is permitted in cash-and-carry ventures.
"A lot of these Indian firms are looking for foreign investments and so they are converting into this format. It will be hard for them to operate as a single entity and compete with foreign retailers," said a Mumbai-based consultant who did not wish to be named.
CHANNEL CONFLICT
However, supply-chain bottlenecks and the low-margin nature of the business are a dampener, industry participants said.
"Pricing is the key because if a kirana has to buy from a cash-and-carry they will only do so if they get a better deal, else they will procure from FMCG companies," said Anand Raghuraman, partner and director at Boston Consulting Group.
"For this the FMCG has to give a better pricing to the cash-and-carry which then becomes a channel conflict," he added.
However, FMCG sales until now have not been affected as their volume offtake is very low, officials said.
"The cash-and-carry format won't really hamper our sales because although we are giving it at a cheaper rate to them the volumes of cash-and-carry for us are really low," said a senior official from Emami Ltd who did not wish to be named.
"But there is a problem we are facing with small retailers complaining to us about giving discounted rates to cash and carry and are demanding the same, but we are working on a strategy to address that," he added.
Low margins of 7-10 per cent in this business compared to 14-15 per cent in front-end food and grocery retailing also pose a challenge for aspiring entrants, industry watchers said.
"Foreign retailers who have entered the space have also been very cautious in their approach because of supply-chain problems, real estate issues and tight laws," said the Mumbai-based consultant.
Germany's Metro AG has set up just five cash-and-carry outlets since opening its first store in India in 2003. US retailer Walmart, after a deal with Bharti Enterprises in 2007, opened its first store in May 2009, and plans to roll out 10-15 such outlets over the next three years.
Maharashtra celebrates Ram Navami | |||
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KOLKATA FIRE
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Kolkata building residents still jittery
Published on Wed, Mar 24, 2010 at 22:05, Updated on Wed, Mar 24, 2010 at 22:14 in India section
Tags: Kolkata Fire, Stephen Court , Kolkata
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Kolkata: Kolkata Police on Wednesday made two arrests in the Stephen's Court building fire case.
The caretaker of the 150-year-old building in Park Street, Tarun Bagaria and his assistant Ram Shankar Singh, were arrested even as the owner of the building Sanjay Bagaria remains untraceable.
Kolkata police commissioner Gautam Chakraborty said that no fire safety norms were followed and some exit routes blocked leading to the massive loss of life in the fire.
The deadly fire that broke out in Stephen's Court building has finally been doused but the trauma for the residents is still far from over.
Police say 24 people died in the fire and 20 of them have been identified. DNA tests will be conducted on four bodies, over which there is a dispute even as 25 people are still missing.
Hope is fading for the waiting relatives.
"I really want to be strong in this time of crisis. But I will stay here till I find my daughter," says Iqbal Hussain, father of missing girl.
Worried relatives and shopkeepers of the building are camping on the footpath, hoping to get some news on their loved ones.
"We have started a massive hunt for all of them, for all the missing people. We have sent our people to all the nursing homes, hospitals and other places, but till now figure stands at 25. Nut we are not too sure whether all 25 of them are still in that building, we hope it's not (the case)," says Kolkata Police Commissioner Gautam Mohan Chakraborty.
People like 60-year-old NK Sahni have been homeless for over 24 hours as they are forbidden from entering their house in the Stephen's Court building till the fire and police officials give the all clear.
"I want to go back to see my belongings are fine," says Sahni.
Meanwhile, the rescue operations are still on. Chief Minister Buddadheb Bhatacharjee paid a short visit to the site and forensic experts conducted their first round of investigations.
But they have so far failed to identify the exact cause of the fire.
"We have to ensure unsafe part of the building should be demolished. That's our first priority," says Kolkata Mayor Bikash Ranjan Bhatacharya.
People are blaming the building management for the tragedy.
"The floors have been constructed illegally," claims a former resident of the building, Malini Mehra.
It's been a rude wake-up call for Kolkata. The government and civic authorities have so far put a poor show in creating an anti-inferno awareness but so have the owners of these virtual tinderboxes for whom safety is way down the priority list of concern.
Mulayam's comments shocking: AIDWAThe Hindu - 1 hour ago The All-India Democratic Women's Association (AIDWA) has condemned the reported statement by Samajwadi Party chief Mulayam Singh that if women belonging to affluent families (industrialists and bureaucrats) were elected MPs they would be "whistled" at ... NDTV.com - Press Trust of India - Daily News & Analysis - Hindustan Times Email this storyKolkata building residents still jitteryIBNLive.com - 1 hour ago Kolkata: Kolkata Police on Wednesday made two arrests in the Stephen's Court building fire case. The caretaker of the 150-year-old building in Park Street, Tarun Bagaria and his assistant Ram Shankar Singh, were arrested even as the owner of the ... Video: Survivors of Kolkata fire tell horror tales NewsXHindustan Times - Financial Express - Central Chronicle - dailynews365 Email this storyLeT , JeM call for jihad, rubbish India-Pak talksThe Hindu - - 4 hours ago AP Syed Salahuddin, center, chairman of the United Jihad Council arrives to attend the Defence of Pakistan Conference in Kotli on Wednesday. Pak's double standards exposed again Times Now.tv Only Karunanidhi is boss: AlagiriTimes of India - 4 hours ago CHENNAI: The fight for succession in the ruling DMK resurfaced on Wednesday with party chief M Karunanidhi's elder son and Union minister MK Alagiri refusing to accept anyone other than his father as his leader. Karunanidhi has not taken any steps to resolve Cauvery dispute: D Pandian Daily News & Analysis "Community must do its part for right to education"The Hindu - - 1 hour ago The community will itself have to ensure that provisions of the Right of Children to Free and Compulsory Education Act, 2009, are implemented in letter and in spirit, Human Resource Development Minister Kapil Sibal said in an interaction with the media ... Indian students can get degree worth $80000 for $20000 sitting home: Sibal Daily News & Analysis Indian Express - Times of India - Calcutta Telegraph - Education News Hyderabad Email this storyBJP accuses US of double standards on HeadleySify - 1 hour ago Indore : The Bharatiya Janata Party on Wednesday accused the US of double standards over Mumbai terror suspect David Headley and said he should be brought to India for interrogation. Video: Will get direct access to Headley: Pillai NDTV.comFailure of Indian diplomacy reflected in Headley case: BJP Daily News & Analysis Oneindia - NDTV.com - Times of India - Economic Times - Wikipedia: David Headley Email this storyMaharashtra celebrates Ram NavamiSify - 4 hours ago Ram Navami, the birth of Lord Ram, was celebrated with enthusiasm and religious fervour in Mumbai and other parts of Maharashtra Wednesday. Communal harmony marks Ram Navami in Ayodhya Press Trust of India India rebels 'bomb rail tracks'BBC News - 16 hours ago Maoists have blown up several stretches of railway tracks in different parts of eastern India. The blasts came on the second day of the rebels' 48-hour shutdown call in Bihar, Jharkhand, Orissa, West Bengal, Chhattisgarh, and Andhra Pradesh. Hindustan Times - Express Buzz - Times of India - ABC Online Email this storyHurriyat (M) leaders skipped Delhi dinner for Pak 'snub'Rising Kashmir - - 30 minutes ago Srinagar, March 24: Despite invitations from Pakistan High Commission to participate in the Pakistan Day function at New Delhi, few leaders of Hurriyat Conference (M) reportedly refused to take part "as a mark of protest for not being invited" to visit ... Engine snag forces emergency landing of Mumbai-Chennai flightZee News - 3 hours ago Maharashtra: A Jet Airways flight had to make an emergency landing at the Mumbai Airport on Wednesday as its engine developed technical snag. 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Express Buzz - Press Trust of India - Indian Express - Frontline Email this storyCPI, CPI(ML) Liberation mourn Kanu Sanyal's deathDaily News & Analysis - 5 hours ago PTI New Delhi: CPI and CPI(ML) Liberation today condoled the death of Kanu Sanyal, the founder of the Naxalite movement, saying the recent Maoist tactics of assassinations and targeting common people "deeply depressed him". Video: Naxalism FOUNDER Kanu Sanyal found DEAD in his hut Asian News International (ANI)Naxalite icon Sanyal steered clear of dogmas Times of India Economic Times - Calcutta Telegraph - Sify - Hindustan Times Email this storyIndia court backs rights of unmarried couplesBBC News - 2 hours ago The Supreme Court in India has endorsed the right of unmarried couples to live together in a case involving an actress accused of outraging public decency. No illegality in live-in relationship between majors: SC Times of India Live-in, pre-marital sex no offence: SC Economic Times Hindustan Times - Calcutta Telegraph - Oneindia - Indian Express Email this story4 additional lanes of Bandra-Worli Sealink openedTimes Now.tv - 3 hours ago Nearly a year after the Bandra-Worli Sealink was opened, it is now finally complete. Four additional lanes of the sea link were inaugurated by chief minister of Maharasthra, Ashok Chavan and filmstar Amitabh Bachchan in a colourful ceremony. Bandra-Worli sealink now fully operational Press Trust of India 'Killings will not affect anti-Maoist operation'Press Trust of India - 2 hours ago Bhubaneswar, Mar 24 (PTI) Terming the killing of three security personnel in Gajapati as "very tragic", Orissa Chief Minister Naveen Patnaik today said it would not have any impact on the impending anti-Maoist operation in the state. Security forces on high alert along Andhra-Orissa border as 3 cops killed in ... Daily News & Analysis Women's bill won't let a male be elected to Lok Sabha: MulayamHindustan Times - 7 hours ago Union Law Minister M Veerappa Moily on Wednesday ruled out providing reservation for Other Backward Castes in the Women's Reservation Bill, saying data on OBCs is not available at the national level. Daily News & Analysis - Business Standard - Asia Sentinel - Frontline Email this storyPM condoles educationist Amrik Singh's deathSify - 1 hour ago Prime Minister Manmohan Singh Wednesday condoled the death of noted academician Amrik Singh, saying that he was 'one of our most distinguished educationists'. PM condoles passing away of Prof Amrik Singh Press Trust of India Punjab CM condoles sad demise of Dr. Amrik Singh PunjabNewsline.com DVS Demands Public Apology from Cong, JD(S) for Insulting KempegowdaDaijiworld.com - 2 hours ago Bangalore, Mar 24: ``Who are these Congress and JD(S) leaders to insult Kempegowda, the founder of Bangalore?," asked former Karnataka BJP President DV Sadananda Gowda, MP, and demanded a public apology from leaders of both parties. Ahead of Bangalore polls, JNNURM central to campaign Indian Express Children score if parents vote The Hindu Omar Abdullah meets Sonia GandhiSify - 4 hours ago Jammu and Kashmir Chief Minister Omar Abdullah met Congress president Sonia Gandhi at her residence in New Delhi Wednesday and discussed matters relating to the state, especially the civic polls slated to be held in May. Omar meets Sonia on local bodies polls Central Chronicle Omar offers support to Women's Reservation Bill Press Trust of India |
National News
Canada reassigns warship to fight al Qaeda attacks
Canada has cancelled a visit to India for one of its warships and assigned it to counterterrorism operations in the Gulf of Aden because of risks of al Qaeda attacks, an officer on the ship said on Wednesday.
- Two shot dead by Maoists in WB PTI - Wed, Mar 24
- Boy injured in celebratory shots PTI - Wed, Mar 24
- Zain approves African asset sale to Bharti Reuters - Wed, Mar 24
- Two killed, 14 vehicles burnt in Punjab road accident IANS - Wed, Mar 24
- Tanker overturns, 3 killed PTI - Wed, Mar 24
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General
- Metro Rail pillar falls on auto-rickshaw, injures two in Delhi's Sarita ViharANI - Wed, Mar 24
New Delhi, Mar 24 (ANI): At least two people suffered injured when an underconstruction pillar at a Metro Rail Corporation site near Savita Vihar suddenly crumbled here pm Wednesday evening.
- CRPF imparts computer training to Kashmiri youthsANI - Wed, Mar 24
Srinagar, Mar 24 (ANI): The Central Reserve Police Force (CRPF) recently organized a computer training course for the youth of Jammu and Kashmir.
- Factory raided in Sonepat for violating Patent ActPTI - Wed, Mar 24
Noida, Mar 24 (PTI) On the orders of a court here, a team of city police and Haryana Police raided a Sonepat factory allegedly manufacturing zippers without a licence and violating the Patent Act.
- Bodies handed over to families, four remain disputedPTI - Wed, Mar 24
Kolkata, Mar 24 (PTI) The bodies of 20 of the 24 victims of the fire at the heritage building on Park Street were handed over tonight to their family members while a dispute arose over the rest, charred beyond recognition.
- Six Bangladeshi intruders arrestedPTI - Wed, Mar 24
Shillong, Mar 24 (PTI) The BSF today apprehended six Bangladeshi infiltrators at Bholaganj in East Khasi Hills district of Meghalaya.
Politics
- Political parties slam Mulayam Singh for his remarks on womenANI - Wed, Mar 24
New Delhi/Lucknow, March 24 (ANI): Samajwadi Party chief Mulayam Singh Yadav's objectionable remarks about women in relation to the Women's Reservation Bill evoked criticism from parties across the political spectrum on Wednesday.
- Amar wants NCW to intervene over Mulayam's remarksIANS - Wed, Mar 24
New Delhi, March 24 (IANS) Expelled Samajwadi Party (SP) leader Amar Singh Wednesday sought intervention of the National Commission for Women (NCW) over remarks of former Uttar Pradesh chief minister Mulayam Singh Yadav about women, which he termed as 'Talibani'.
- U.S. and Pakistan seek to reverse mistrustReuters - Wed, Mar 24
U.S. Secretary of State Hillary Clinton said on Wednesday the United States wanted a new relationship with Pakistan but was realistic of the challenges ahead in reversing decades of mistrust.
- Telangana supporters heckle Naidu outside jailIANS - Wed, Mar 24
Hyderabad, March 24 (IANS) Pro-Telangana activists Wednesday heckled Telugu Desam Party president N. Chandrababu Naidu when he visited a jail here to meet TDP leaders arrested for attacking advocates who had disrupted a party meeting.
- Four chief ministers, no big deal: LapangIANS - Wed, Mar 24
Shillong, March 24 (IANS) Meghalaya Chief Minister D.D. Lapang Wednesday defended his decision to accord three more leaders with the rank and status of chief minister, saying that the state had seen such a situation even earlier.
Features
- CORRECTED - HK film falls short at Asian awards, Bachchan wins lifetimeReuters - Tue, Mar 23
(Corrects para 2 of March 22 story to show the film garnered six nominations)Hong Kong action thriller "Bodyguards and Assassins" scooped several top honours at the Asian Film Awards in Hong Kong on Monday, but was eclipsed for best picture by the South Korean movie "Mother".
- Are India's rich charitable? Not very, study showsReuters - Tue, Mar 23
The number of wealthy Indians has been rising fast over the last decade, but they're not ready yet to let go of their hard-earned cash, even for charity, according to a study by business consultancy Bain & Co.
- "Alice in Wonderland" stays atop box offices for third weekReuters - Mon, Mar 22
Disney 3-D adventure "Alice in Wonderland" retained the top spot at North American box offices for a third straight week, collecting $34.5 million and beating three new films including romantic comedy "The Bounty Hunter."
- Jaded-looking Tiger Woods finally answers questionsReuters - Mon, Mar 22
Looking jaded and despondent, Tiger Woods finally faced questions on Sunday about the sex scandal that turned him from the biggest brand in sport to the disgraced target of hundreds of jokes.
- Black Eyed Peas, Shakira to front World Cup concertReuters - Wed, Mar 17
The Black Eyed Peas, Shakira and Alicia Keys will be among scores of music stars performing at a concert on the eve of the soccer World Cup in South Africa, organisers said on Wednesday.
Crime
- Mother arrested for killing kidsHT - Wed, Mar 24
She consumed sleeping pills but felt they were ineffective. She then tried to hang herself and failed. Finally, she slit her wrists and fell unconscious.
- Quizzed by police over friend's 'death', student kills selfHT - Wed, Mar 24
A day after the police questioned him regarding his friend?s death, a 20-year-old student committed suicide on Tuesday morning in East Vinod Nagar in East Delhi.
- Tantrik arrested for doctor's murderHT - Wed, Mar 24
Relying on a tantrik to ?ward off evil? has seemingly proved costly for the family of a Sahibabad doctor.
- Lie-detector tests offer no clue in murder caseHT - Wed, Mar 24
The lie-detector tests performed on the three suspects in the Sarthak Chawla murder case have reportedly revealed nothing. The suspects are the murdered 5-year-old?s parents and their housing society?s guard.
- Six killed in Kolkata building fireHT - Wed, Mar 24
A major fire raged through an eight-storeyed heritage building in this city?s signature thoroughfare, Park Street, on Tuesday afternoon, killing six persons and injuring more than 20.
Business News
Dealmakers meet to sort $26 bln Dubai World debt
Bankers met in Dubai on Wednesday to hammer out a $26 billion debt plan with state-owned Dubai World as a repayment deadline loomed, adding to pressure on the glitzy emirate to settle the conglomerate's debt.
- Galleon founder wins stay of wiretaps in civil case Reuters - Wed, Mar 24
- China official rejects U.S. complaints on currency Reuters - Wed, Mar 24
- Citigroup pays $1.25 mln fine for reporting errors Reuters - Wed, Mar 24
- Zain approves African asset sale to Bharti Reuters - Wed, Mar 24
- UK heavyweight adviser at Dubai debt table Reuters - Wed, Mar 24
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General
- Bosch, union reach settlementPTI - Wed, Mar 24
Bangalore, Mar 24 (PTI) Leading automotive component manufacturer Bosch today said it has reached an amicable settlement with the workers, ending the three-week-old unrest that badly impacted its operations.
- Garment brands demand rollback of VAT hikePTI - Wed, Mar 24
Jaipur, Mar 24 (PTI) Leading readymade garment brands today said the massive hike in value added tax on branded garments by the Rajasthan government would impede the growth of the garment retail sector in the state.
- UP sugar output up nearly 20 pc so farPTI - Wed, Mar 24
Lucknow, Mar 23 (PTI) After failing to meet target in the last crushing season, Uttar Pradesh has so far produced over 47 lakh metric tonne sugar, almost 20 per cent more than the estimated production in the current season, a senior official sources said here today.
- Indian biz leaders less stressed than last yr: ThorntonPTI - Wed, Mar 24
New Delhi, Mar 24 (PTI) Stress levels of leaders of the privately held business have decreased to an extent, but still as many as 56 per cent are burdened with the pressure to perform post slowdown, says global consultancy firm Grant Thornton.
- Shahid Kapoor is brand face of Vaseline MenPTI - Wed, Mar 24
New Delhi, Mar 23 (PTI) FMCG major Hindustan Unilever today roped in Bollywood actor Shahid Kapoor as the brand ambassador for its newly-launched men's fairness product under the Vaseline brand.
India
- Zain confirms asset sale to Bharti done soonReuters - Wed, Mar 24
DUBAI (Reuters) Zain:* Says due diligence in Bharti Airtel asset sale is completed successfully
- Shimla goes without power WednesdayIANS - Wed, Mar 24
Shimla, March 24 (IANS) Tourists and residents of the Himachal Pradesh capital were left without electricity almost the entire day Wednesday, an official said. However, in the evening the electricity supply was partially restored.
- Bosch settles wage dispute with workers' unionIANS - Wed, Mar 24
Bangalore, March 24 (IANS) German automotive component major Bosch Ltd reached an agreement with one of the unions of its workers on revised wages to be paid with effect from January 2009, the company said late Wednesday.
- Mindlance to expand India operationsIANS - Wed, Mar 24
Bangalore, March 24 (IANS) The US-based IT infrastructure services provider Mindlance plans to expand its operations in India for strategic alliances with local partners to provide cost-effective solutions, a company official said Wednesday.
- Mumbai sea link second carriageway opens amid Big B rowIANS - Wed, Mar 24
Mumbai, March 24 (IANS) The second carriageway of the Rajiv Gandhi Sea Link (RGSL) opened here Wednesday with some Congressmen protesting the presence of megastar Amitabh Bachchan at the inauguration.
International
- China, Afghanistan sign pacts to boost cooperationIANS - Wed, Mar 24
Beijing, March 24 (IANS) China and Afghanistan Wednesday signed a number of pacts to boost cooperation between the two countries, Xinhua reported.
- ANALYSIS - Negotiation is nearest exit for air trade spatReuters - Wed, Mar 24
A new trade row is looming over the next generation of Airbus jets a day after European aid was ruled illegal, but the world's largest and costliest trade spat seems destined to fizzle out eventually through negotiation.
- Hyderabad airport best in India: SkytraxIANS - Wed, Mar 24
Brussels, March 24 (IANS) The Rajiv Gandhi Airport in Hyderabad is the best airport in India, according to Britain-based consultancy Skytrax, which judges the quality of air travel around the world.
- INTERVIEW - China's assertive policies raise investment concernsReuters - Wed, Mar 24
China's yuan stance is just part of a tide of assertive policies from Beijing that have unsettled American companies and risk stoking tensions, said the senior executive of a major U.S. business group.
- Bharti-Zain deal likely to be sealed tomorrowHT - Wed, Mar 24
Bharti Airtel, India?s largest telecom service provider, and Kuwait-based Zain are set to announce closure of the deal under which Bharti Airtel has proposed buying Zain?s Africa operations, excluding Morocco and Sudan, for $10.7 billion (Rs 49,000 crore).
Personal-Finance
- Financial closure for IRB's 2 highway projectsHT - Wed, Mar 24
IRB Infrastructure Developers, a leading toll road operator in India and integrated infrastructure development and construction company, has achieved financial closure amounting to an aggregate of Rs 1,824 crore for two of its highway projects in Punjab and Rajasthan.
- Tata refuses power to RelianceHT - Wed, Mar 24
As the summer temperature continues to rise in Mumbai, suburban power consumers will have to brace themselves to pay more for electricity.
- State growth rate doublesHT - Wed, Mar 24
Mumbai, March 24 -- Maharashtra's economy grew at 8.6 per cent in 2009-10, more than twice the pace of the year before.
- China to supply trains for Mumbai MetroIANS - Tue, Mar 23
Beijing, March 23 (IANS) A Chinese firm will send 18 high-capacity Metro trains for the new subway rail project in Mumbai as part of a $110 million deal, the company said here Tuesday.
- Hero Honda plans unit in Himachal at Rs.2,000 croreIANS - Tue, Mar 23
Shimla, March 23 (IANS) Two-wheeler auto major Hero Honda is keen to set up a manufacturing unit in Himachal Pradesh with an outlay of Rs.2,000 crore, an official said Tuesday.
Markets
- INTERVIEW - Indian port boom led by construction firmsReuters - Wed, Mar 24
The private sector is leading India's port-building boom, which will unblock supply bottlenecks for coal and iron ore vital to feed the expanding economy, a port director told Reuters.
- Wall St down after Portugal credit rating cutReuters - Wed, Mar 24
U.S. stocks fell on Wednesday after Portugal's credit rating was downgraded on budget concerns, prompting investors to pull back after recent gains.
- INTERVIEW - Adidas aims for pre-crisis sales next yrReuters - Wed, Mar 24
German sporting goods maker Adidas could return to pre-crisis levels of sales next year with help from the FIFA World Cup and its revived Reebok brand amid a global economic rebound, its chief executive said.
- - Wed, Mar 24
European shares fell on Wednesday and the euro sank to a 10-month low against the dollar after ratings agency Fitch downgraded Portugal, fuelling more concerns about the euro zone's stability.
- India gold futures weak on international cuesReuters - Wed, Mar 24
India gold futures were trading lower on Wednesday afternoon tracking a weak international market, analysts said.
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