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Indians
Care For Their Aged Parents
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Indians
are clinging on to the age-old gospel that
'Good sons take care of aged parents'. They
have little choice in a country where social
security is nearly non-existent. The point
is how are the sons responding? The figures
are reassuring: 784 out of every 1000 economically-dependent
aged persons in rural India are supported
by their own children. And in urban India,
though the figure was somewhat lower, it
was still an overwhelming 762. These are
finding of the latest report of the National
Sample Survey (NSS) Organisation conducted
during January-June, '04. Interestingly,
not only are a huge number of old parents
supported by children, but their numbers
have increased over the years. Economic
liberalisation, globalisation and the advent
of consumerism seem to have had no effect
on Indian mind-set and a good 73 more aged
parents out of 1000 in rural areas and 54
in urban areas are now supported by their
children compared to 1995-96 when the previous
survey was conducted. According to '01 census,
these figures were 141 for rural India and
107 for urban areas. It is a different question
how these children support their parents
when they themselves struggle to meet their
own needs. But then they have found a willing
ally in their own children to pursue their
mission. In fact, as many as 28 of the 1000
financially dependent aged persons were
supported by their own grand children in
rural areas and 26 in urban areas in '04.
An interesting gender differential is observed
in the support mechanism of the aged and
the pattern is almost similar in both rural
and urban areas. In terms of proportion,
more males than females are supported financially
by their own children. In rural areas 850
males were supported by their children compared
to 746 females. These figures were 846 and
710, respectively, in urban India. This
may be because a larger number of females
are supported by their spouses as compared
to males. No wonder. For, Indian males generally
enjoy more economic power and inherit the
family property. In rural India, 159 females
were supported by their spouses as compared
to only 70 males supported by their female
counterparts. In urban areas the figures
were 192 and 60, respectively. In rural
Goa as many as 412 out of every 1000 financially
dependent aged females were supported by
their spouses. And as the Goanese children
were not required to help a large number
of their aged mothers they supported all
their dependent fathers-1000 out of 1000
aged males were supported by their children
in rural Goa in '04. The story was almost
the same in urban India too. A larger number
of aged fathers were supported by their
children-865 out of every 1000 aged males
were supported by children compared to 710
aged females.
Courtesy:
Economic Times, May 29, 2006
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India
may be led by a septuagenarian Prime Minister
but when it comes to the corporate world,
the leaders are getting younger by each
passing year with executives in late 30s
and early 40s filling the top posts. According
to a study by global recruiting firm EMA
Partners, the average age of leadership
positions in India Inc across all industries
has dropped by as much as nine years in
the last five years. "The number of younger
people taking up top executive positions
is more pronounced in emerging sectors like
IT and ITEs, banking and financial services
compared to the old economy areas like manufacturing,"
EMA Partner Indian Managing Director K Sudarshan
said. The average age of CEO in the banking
and financial sector had dropped to 42-45
years in 2006 compared to 49-52 years in
2001, the EMA study said. In technology
and software services, the average age of
a CEO has come down to 36-40 years this
year from 40-42 years in 2001. The manufacruting
sector, however, continued to be the bastion
of old hats, with the average age of CEO
being 48-53 years (2006) as compared to
56-62 years (2001). Interestingly, this
sector witnessed the biggest drop in average
age of a CEO by nine years. "There is a
co-relation between the drop in the average
age and the burgeoning demand for such professionals,"
Sudarsan said, adding while sectors like
IT, BPO, financial services witnessed great
demand, younger executives have given the
tradional industry like manufacturing a
miss and opted for more exciting careers
elsewhere. Sudarsan said the drop in the
average age of leadership positions in the
corporates reflected the evolution and maturity
of the sectors. "While manufacturing is
a more matured field in India, sectors like
IT, ITEs, banking and financial services
are relatively new and still moving towards
maturity," he said. Alarmingly for India
Inc, the study pointed out that young managers
were no longer ready to go through the grinds
of serving in the shop floor in remote factory
locations or working in difficult markets.
They prefer high growth emerging businesses
and dual careers (working spouses) compound
the problem, it said.
Courtesy:
The Pioneer, May 29, 2006
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Indian
Rock Rules Christie's
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Diamonds
are definitely not a man's best friend.
Considering the amount someone might just
have to shell out for a breathtaking bauble
being auctioned by Christie's later this
year, it isn't surprising why. A 13.53-carat
pearshaped D-colour, internally flawless
diamond ring from the legendary Golconda
mines of eastern India will go under the
hammer in Hong Kong on June 1. The estimated
price of the rock is US $950,000-1,200,000.
Golconda mines are famed for diamonds of
superb luminousness and transparency. Today,
it is extremely difficult to find in the
market a diamond which possesses the superior
quality to be considered worthy of the Golconda
attribution. The extraordinary stone offered
in the Christie's sale is, however, an exceptional
one displaying an unparalleled level of
clarity and purity, subtle luminous quality
and a water-clear transparency reminiscent
of diamonds from the Golconda mines. It
also exhibits an antique cutting and is
graded by the authoritative Gubelin Gemmological
Laboratory as a Golconda diamond, an honour
that no other diamond in the world has gained
in the last two years. It is expected to
create huge interest and enthusiasm in the
market on June 1, the day of the auction.
Says Pansy Ku Business Manager, Jewellery
and Jadeite Jewellery Department, Christies
Hong Kong, "As many Golconda diamonds were
recut, it is extremely rare to find a stone
of such perfection (Dcolour, internally
flawless) which still retains its old cut.
Golconda mines have been depleted for such
a long time and these diamonds are few and
far between to appear on the jewellery market.
'' The diamond on sale is set in a hoop-shaped
platinum ring of size 4.5. Christie's, however,
are reluctant to divulge the name of the
seller of the rock in question. "The jewellery
lots offered in our sales either come from
private or trade clients. We have a duty
towards our clients to keep all transactions
confidential and therefore we are unable
to reveal how this diamond reached us,''
says Ku. Today, diamond production is a
fraction of what it was during the 1600s
and is overshadowed by mining in Africa,
Australia, Russia and Canada.
Courtesy:
The Times of India, May 28, 2006
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Europe
Beckons Indian Top Graders
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Europe
is all set to become the new educational
frontier for Indian students, with the Bologna
Accord gradually coming into force. Under
the new regime, by 2010, 45 European countries
will integrate and unify their educational
systems to ensure greater mobility of students
within Europe. And the good news doesn't
end there. Some countries like Germany,
The Netherlands and France are taking a
lead and have set the ball rolling ahead
of the Bologna schedule. "The Netherlands
can be considered to be one of the frontrunners
on the Bologna process in terms of introducing
the ECTS system, the bachelors-masters structure
and a national accreditation organisation.
The last two issues have already been embedded
in Dutch legislation and currently the Netherlands
is offering the largest number of English-taught
programmes in the European continent, which
consists of a large number of bachelor's
and master's programmes," says David Pho,
advisor at Netherlands Organisation for
International Co-operation in Higher Education.
ECTS is a system of accumulation and transfer
of credits envisaged under the Bologna Accord
which has also worked out transparent systems
for easy to read and compare academic grades,
facilitation of academic and professional
recognition of qualifications and a two-cycle
system geared to the employment market.
Meanwhile, the German Academic Exchange
Service is working on simplifying the Bologna
Accord for the Indian academic community.
"We are holding an EU higher educational
fair in Delhi in November 2006. Over 150
universities from Europe will come to this
event where Indian students and policy makers
will interact with their counterparts from
Europe. In future, important campus destinations
like Germany, France, Italy and The Netherlands
can be viewed as a unified whole by Indian
students," Ulrich Podewils, director of
DAAD in India, told ET.
Courtesy:
Economic Times, May 28, 2006
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Another
First: Kalam to Fly in Fighter Aircraft
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President
A. P. J. Abdul Kalam would be flying in
an aircraft belonging to one of the most
decorated squadrons of the Indian Air Force
(IAF), it was officially announced here
on Friday. A sortie will be conducted on
June 8 for Mr. Kalam to familiarise with
the systems and capability of the aircraft.
This will be the first time that the Supreme
Commander of the Indian Armed Forces will
fly in a fighter aircraft. The President
will be visiting Lohegaon-based 20 Lightning
Squadron which is celebrating its Golden
Jubilee. Formed in 1956 at Halwara with
Vampire aircraft, it is one of the oldest
squadrons and has taken part in all the
operations in which IAF was deployed. It
is also the most decorated squadron with
two Mahavir Chakras, five Vir Chakras, three
Mention-in-Dispatches and one Vayu Sena
Medal. Its `war trophies' include two air-to-air
kills, 13 aircraft on ground including two
C-130 Hercules, 10 battle tanks, and scores
of railway wagon, locomotive, field artillery
and trucks. During the Golden Jubilee celebrations,
Chief of Naval Staff Arun Prakash will be
the chief guest. He was posted in this squadron
as a Lieutenant during the 1971 operations
and was awarded the Vir Chakra.
Courtesy:
The Hindu, May 27, 2006
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Desi
Curries Sizzle Abroad
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Some
foods have become global in nature. China
has one big advantage over India here, as
'hakka noodles', like pizzas and hamburgers,
are on world menus. Conquering global taste
buds is not easy, it does not happen by
chance or design. For most Americans and
Europeans, their first taste of Asia is
Chinese food. This is not a recent phenomenon,
but has evolved as Chinatowns and Chinese
emigrants have influenced western eating
habits. The most popular Chinese cuisine
in the West, is Cantonese, as it does not
involve deep-heat cooking. Cantonese food
uses few spices, no deep-frying and a lot
of meat, so it is easily palatable to Western
taste buds. Overseas markets are now experiencing
an Indian culture curry, not only because
of book scandals, crossover films and ethnic
wear, but something a little more literal
and overriding - pre-cooked packaged foods
and the rising awareness of India. Companies
such as MTR and ITC Hotels have made it
possible to package Indian dishes. This
means that you can buy Indian Chole Masala,
or Kashmiri Rajma and Chicken Patiala food
packaged, off the shelf and heat or put
it into the microwave to have real authentic
Indian food. Culinary tastes are closely
connected with the cultural world, the influencers
are not only the media, but movies, books
and what the cognoscenti is discussing or
eating these days. Which is why, films like
Gurinder Chadha's Bend it like Beckham,
which made Aloo Gobhi a must-know-how-to-cook
dish, for a girl. Like Chinatowns and smaller
towns in the UK like Norwich, which has
a population of nearly 1,75,000 people,
has streets devoted to Indian cuisine only.
And Deevan Street in Chicago has a lane
dedicated to Indian and Middle Eastern cuisine
and fast food, which has huge traffic during
peak hours all week. The focus on food can
be seen even in the recent Aishwarya Rai-starrer,
Mistress of Spices. While the movie may
have flopped in India, it does introduce
Indian culinary and spices to the western
world and excite gourmands. According to
Ravi Naware, divisional chief executive,
foods division, ITC, Indian restaurants
are the first to lay the stepping stone
and inculcate Indian tastes in overseas
communities. This brings about 'a want to
try out Indian cuisine at home' desire and
so people buy ready-to-eat curries. After
this, people want to try and cook at home
and hence buy curry pastes, which adds the
Indian flavour. Once this happens, there
will be a rise in Indian fast food.
Courtesy:
The Economic Times, May 26, 2006
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Indians
Win $1.2m in US Rights Case
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A
US federal judge awarded a group of 52 Indian
men more than $1.2 million after finding
an oil equipment manufacturer guilty of
fraud, false imprisonment and civil rights
violations. Federal judge Clair V Egan's
ruling described an environment of threats
and intimidation , daily harassment and
open hostility from management at the John
Pickle Co. "Defendants recruited Indian
workers in India, brought them to the US,
housed and fed them separately from the
non-Indian employees, identified them as
Indians and made numerous discriminatory
comments ,'' Egan wrote. The verdict came
more than four years after the workers left
the factory. They told of being forced to
work long hours for only a few dollars per
day. If divided equally, each worker might
receive over $20,000. John Pickle Co ceased
operations shortly after the Indian employees
left the company and filed the lawsuit.
Courtesy:
The Economic Times, May 26, 2006
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NRI
Honoured at UK Drinks Business Awards
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NRI
entrepreneur Karan Bilimoria, founder and
CEO of Cobra Beer, has been honoured with
the 'Man of the Year' award at the 2006
UK Drinks Business Awards. Bilimoria's Cobra
Beer also won the highly coveted Business
Excellence Award for the second year running,
an official release said on Wednesday. The
judges commended the company for its "continuing
high level of innovation and creativity"
in recent product launches of Cobra including
Cobra Lower Cal and King Cobra. "We are
absolutely delighted to receive these two
awards from The Drinks Business," the Hyderabad-born
Bilimoria, who has so far won several awards
including Outstanding Achievement Award
for 2005, said. "It is particularly satisfying
for us to have retained the Business Excellence
Award we won last year as I feel this is
a true measure of the company overall. The
fact that we have won this award two years
in a row is fantastic," he said. Cobra Beer
also finished runner-up in the 'Best Consumer
Campaign' category for CobraVision and the
'Best Design and Packaging' category for
King Cobra. The Drinks Business Awards,
hosted by leading premium drinks trade magazine
'The Drinks Business', rewards high- performing
companies and individuals within the UK
drinks industry. Amongst other high profile
winners at the awards were the Thresher
Group, Diageo, Majestic Wines and Woman
of the Year, Cecile Bonnefond, president
and CEO of Veuve Clicquot.
Courtesy:
The Economic Times, May 24, 2006
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Foreign
Nationals Flock to Indian Multinationals
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The
aura associated with working for multinational
companies (MNC) is increasingly diminishing,
with more and more foreign nationals opting
to work with domestic IT majors, fondly
called the Indian MNCs. The domestic companies
are gaining popularity in the global employment
markets, mainly due to technological advancement
and blurring of geographical boundaries.
According to industry sources, there are
over 25,000 foreign nationals working with
Indian companies across the world. These
numbers, even though unofficial, is much
higher than that was two years ago, when
it hovered around 2,000-3,000. Tata Consultancy
Services (TCS) with 3,056 foreign nationals,
Infosys Technologies with around 1,500 and
Wipro with 450 top the chart, while Satyam
Computers and BPO majors like Intelenet
Technologies (employing over 1,000 foreigners)
and WNS are also reputed names in the global
job hunting scenario. "Indian IT companies
have underlined their presence in the global
employment arena, with the feeling among
job-seekers is that getting a break with
an Indian adds great value to their resumes,"
Nasscom vice-president Sunil Mehta told
Business Standard. Fifty-five per cent of
the total foreigners employed are from Britain
and the remaining are from Europe and US,
while a handful are from China and Japan.
There are over 800 foreigners working with
IT companies in India alone, he said. According
to Infosys Technologies Chairman and Chief
Mentor N R Narayana murthy, "We firmly believe
that the future success of Infosys lies
in its ability to create an environment
that is open to people from different nationalities
and ethnicities". Infosys employs people
from 59 nationalities, including the US,
China, Australia, France and Germany among
others. The company is also planning to
hire 325 college graduates from US and UK
by the end of 2007, and has also intention
to hire from 25 different nations. Of the
450 employed with Wipro, 30 are based in
India and the rest in the US, Canada, Europe
and Japan. A company spokeperson said, "Indian
companies like Wipro are able to offer challenging
assignments which is a draw for any person
regardless of the nationality". Intelenet
Global Services Chief Executive Officer
Susir Kumar said, "There are lots of expats
employed with IT and ITeS companies in Bangalore
and most of them are from Asian and European
countries. However, they do not exist in
huge numbers. What BPO companies can truly
boast of is senior management people on
their board of directors who are of foreign
origin. This trend also applies to companies
in the service sector such as the retail
and airline industry." However, the increased
interest in Indian companies have not impacted
global IT majors like HP and IBM, due to
an increase in job opportunities across
the spectrum.
Courtesy:
Business Standard: May 23, 2006
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Singapore
to Choose India to China
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India
will become the third major trading partner
for Singapore after the US and the UAE and
will become a preferred destination than
China for potential investments in the years
to come, said Ajit Simngh, Consul General
Designate, Consulate General of the Republic
of Singapore. Addressing the special session
with the high-level delegation from Singapore
Chinese Chamber of Commerce and Industry
(SCCCI) and Singapore Indian Chamber of
Commerce and Industry (SICCI) here on Monday,
Mr Simngh said the Comprehensive Economic
Cooperative Agreement (CECA) between both
the countries during last year will drive
the bilateral trade to a new high. According
to him, India will become the third largest
trade partner after the US and the UAE and
Singapore will consider India ahead of China
for major investments, he added. Said R
Ramraj, vice chairman, CII (TN Council),
India will see a 300% increase in its foreign
direct investment from Singapore in the
first year of implementation of CECA. "It
is envisaged that by 2010, the two-way trade
between the countries will cross $50 billion,"
he added. Singapore will probably turnout
to be India's Hong Kong and there could
be a shift in FDI from Mauritius to Singapore,
he said further. According to N Kumar, former
CII president, the bilateral trade between
the two countries grew by 52.24% in 2005.
"Singapore has maintained its position since
last year as India's largest export partner.
India's imports from Singapore were estimated
at $2.58 billion, having grown by 23.94%
since last year," he said. M Velmurugan,
director, Tamil Nadu Industrial Guidance
and Export Promotion Bureau, while making
a presentation, said manufacturing and equipment,
manufactured goods, hospitality, tourism,
logistics, travel, engineering, consumer
goods and software are some of the potential
areas for Singapore companies to invest
in Tamil Nadu. He also pointed out that
the huge demand for logistics services in
Tamil Nadu, where the Singapore companies
can cash in on. Earlier during the day,
the 50-member Singapore delegation met Chief
Minister M Karunanidhi at the Secretariat.
The chief minister, while welcoming major
investments, assured the delegation of all
help from the state government.
Courtesy:
The Financial Express, May 23, 2006
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Indian
Restaurant in Wales is UK's Best: MPs
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A
little known Indian restaurant in Wales
has been adjudged the winner of the inaugural
Tiffin Cup instituted by British MPs, but
curry house owners in Glasgow are upset
that none of them were nominated for the
award. The Taj Mahal restaurant in Haverfordwest,
Pembrokeshire, was voted as the best this
week. Chefs from 14 Indian restaurants around
Britain presented their efforts to 40 MPs,
who nominated venues from their constituencies.
However, owners of Indian restaurants in
Glasgow are particularly upset because the
Tiffin Cup was decided without any entry
from Glasgow even though the town in Scotland
was named the UK's Curry Capital for the
third time in six years. Glasgow is considered
Britain's curry capital due to the large
number of eateries that roll out thousands
of luscious and spicy Indian dishes every
day. However, none of the MPs nominated
any Indian restaurant for the award. Navdeep
Basi, who co-owns the Dhabba and Dakhin
in Glasgow, said: "Our MPs have a civic
duty to promote city businesses especially
in this case where we have the best curry
houses in the UK." Not one of Glasgow's
MPs - Ian Davidson, Tom Harris, Ann McKechin,
Mohammad Sarwar, Michael Martin, John Robertson
and David Marshall - voted. Glasgow Central's
Sarwar insisted he was cheated of a chance
to bring the title home: "The first I heard
of the awards was when (SNP leader) Alex
Salmond asked me last week whom I'd nominated.
"I've absolutely no doubt the best curry
in the UK comes from my constituency." Marshall
said: "Glasgow curries are more delicious
than anywhere else in the UK. But how could
you pick just one?"
Courtesy:
Hindustan Times, May 20, 2006
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Japanese
Docs Eye India to Nurse Desires
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Land
of the rising sun looks at kerala to meet
the need for medical.doctors from the Land
of Rising Sun are looking for a collaborative
effort to tackle the dearth of talent in
the nursing profession in the country. On
an average, Japanese nurses are paid a monthly
salary of $2,000. "A tie-up or collaboration
with our hospital and branch in Kerala will
facilitate the exchange of doctors, surgeons
and nursing professionals. It will be a
two-way training programme," Frontier Lifeline
Hospital's chairman and CEO KM Cherian said.
In India, CGNFS-certified nurses either
get married or procure a green card. "As
a result, 60% of our nurses leave," he said.
With such a programme, nurses will have
the option of getting a taste of Japanese
culture, before they settle for greener
pastures. Two cardiac surgeons from one
of the largest hospitals in Japan, Asahi
General Hospital, are in Chennai for training
under Dr Cherian, a renowned cardiothoracic
surgeon. Asahi does around 200 open heart
cases each year. A formal MoU between the
two organisations is in the offing. Since
Japan is greatly advanced in stem cell,
tissue engineering and molecular biology,
"we would like to get more advanced technique
as we are also into stem cells and tissue
engineering", he added. Dr Cherian said
medical tourism in Kerala has moved to a
different level as Japanese nurses will
go to the God's own country to get training.
"English has come to be accepted as an international
language. Though Japan has not suffered
due to its technology advantage, getting
trained here will arm nurses with the language
and the skills," he added. About 65,000
open heart surgeries are done in 60 hospitals
in Japan every year. Annually, each hospital
handles 100 cases. In India, it is 15 times
more, with about 1,500 cases handled by
a hospital. "We have more clinical material",
he said. Unlike India, where congenital
heart ailments are common, Dr Cherian said
coronary heart disease, aneurysm and cardio
atherosclerosis afflicted the geriatric
population of Japan. "Compared to an average
life span of 72 years for Indians, Japanese
have an average life span of 85 years."
Courtesy:
The Economic Times, May 11, 2006
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Indians
at Helm of HRD to Ease Procedural Hassles
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An
Indian may soon head the world's apex diamond
body, the Hoge Voor Diamant. Most traders
feel such a scenario will be beneficial
to local diamond traders. "With Indians
at the helm, we will have an edge in technology
upgradation as well as in research and development.
We hope issues of the Indian community will
get a good response at HRD," said Chandrakant
Singhvi, president of the Gujarat Hira Bourse,
and regional secretary of the Gems and Jewellery
Export Promotion Council (GJEPC).Indian
representation on the HRD board has been
very poor over the years, he added. "Almost
all recently elected Indian members have
operations in Mumbai or Surat. They will
be more receptive to the problems that Indian
diamond traders face in the world market
than anybody else," Mr Singhvi said. The
elections to send six representatives to
the board were held last week. It marks
the first phase of the restructuring of
the umbrella organisation of the diamond
sector. HRD is the co-ordinating body and
official representative of the diamond sector.
It is recognised internationally and acts
as the host, spokesperson and intermediary
for the Belgian diamond community. Moreover,
HRD is the Belgian diamond sector's official
liaison with governments, and actively promotes
support for the diamond sector at home and
abroad. "India is already one of our most
important commercial partners. As five of
the board members are Indians, the ties
between Antwerp and India will probably
grow stronger," said Philip Claes, director,
HRD corporate affairs. As it is, over 60%
of the diamond trade is controlled by Indians.
But having a say on the HRD board augurs
very well for the Indian diamond merchants
community," said Bakul Mehta, chairman of
the GJEPC. Diamond merchants are quite upbeat
about the development. "With Indians at
the helm, a lot of our procedural hassles
will be eased. We certainly have an edge
over others in the world market now," said
Babubhai Viradiya, secretary of the Surat
Diamond Association.
Courtesy:
The Economic Times, May 11, 2006
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In
Leh, 'Solar System' Makes Army Tick
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The
Indian Army has found a novel way of cooking,
saving fuel and protecting the environment
~ that too at an altitude of 3,505 metre
above sea level. All it has done is installed
a solar steam cooker at its transit camp
at Leh, Ladakh in Jammu and Kashmir, to
cook food for 500 jawans. This is the world's
highest solar cooker system. The system
saves 50 per cent fuel and will recover
the investment in less than three years.
The unique cooking system bypasses the problem
of availing the costly conventional fuel
that has to brought to Kashmir via trucks
in summer and by air in winter. Smoke and
soot, other problems associated with using
conventional fuel, are also things of the
past. "The solar cooking system has made
cooking convenient, quick and hygienic and
the cooks are happy to work in clean environment,"
said an Army officer posted in the area.
He said that before installation of the
solar steam cooking systems, the Army used
LPG and diesel to cook food. The interesting
feature of this system is that it works
even at sub-zero temperatures and when it
is snowing. The system runs on solar radiation.
In winter, solar radiation actually improves.
Courtesy:
The Statesman, May 11, 2006
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Indian
Set to Wear Crown at World's Diamond HQ
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If
last Thursday added a glorious Indian chapter
to the world's diamond chronicle , this
week could create history. The next president
of the Antwerp-based Diamond High Council,
Hoge Voor Diamant (HRD) - the world's apex
body in diamond trade - could be an Indian.
On Monday, the general assembly HRD ratified
the election of five Indians to its 11-member
board. Kaushik Mehta (Eurostar Diamond Traders)
and Nishit Parikh (Diarough), both sightholders
of De Beers, are now on the board, along
with Mehul Kothari (Sushang Exporters ),
Nilang Mehta (Genesis Diamonds) and Mukund
Joshi (Belindiam). The new board will meet
on May 11 to designate a replacement for
former president Peter Meeus, who resigned
in January '06. It will also select the
managing director and a 12th independent
director. Sources in the Antwerp diamond
industry told ET that with a significant
presence on the board, the chances of an
Indian taking over as the chief of the body
are very high. "If not president, the MD
will be an Indian," a big Antwerp-based
diamond trader said. Besides marking the
supremacy of Indians in the world diamond
trade, the development means a lot for the
Rs 70,000-crore-plus Indian diamond industry,
as most of the Belgium-based expats have
operations back home. Indian members seen
more receptive to problems faced by local
diamond traders in the world market Procedural
hassles will be eased.
Courtesy:
The Economic Times, May 10, 2006
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Indian
Wins UAE Bonds Worth Rs 1.1 cr
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An
Indian has won UAE's first National Bonds
worth over Rs 1.1 crore but insisted he
will continue working on his former job.
Valiyakath Ebrahim Kutty Abdul Saleem, 47,
who hails from Kerala, was the first winner
to scoop big money in the UAE's recently
established National Bonds' prize worth
Rs 1.1 crore draw. "Of course I am very
happy as anyone would be with this good
fortune but I will continue to live as I
always have," Saleem, a resident of Abu
Dhabi, told Gulf News. "I am going to continue
working and bringing my young family up
as normal," he said. He hopes to continue
donating money to charities in Kerala. He
lauded the scheme for the impact it will
have on funding UAE development projects.
Courtesy:
Hindustan Times, May 10, 2006
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Indian
Wins UAE National Bonds Worth 1.1 Crore
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An
Indian has won UAE's first National Bonds
worth over Rs 1.1 crore, but insisted he
will continue working on his former job.
Valiyakath Ebrahim Kutty Abdul Saleem, 47,
who hails from Kerala, was the first winner
to scoop big money in the UAE's recently
established National Bonds' prize worth
Rs 1.1 crore draw. "Of course I am very
happy as anyone would be with this good
fortune, but I will continue to live as
I always have," Saleem, a resident of Abu
Dhabi, told Gulf News. "I am going to continue
working and bringing my young family up
as normal," he said. He hopes to continue
donating money to charities in Kerala. He
lauded the scheme for the impact it will
have on funding UAE development projects.
Courtesy:
The Hindu, May 10, 2006
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Indians
Spin Booming Textiles Story in Shaoxing
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Neeraj
claims the first three months in China were
torture. "I could not understand a word.
I thought I made a mistake by coming here,"
he says passing around cups of Indian tea
in his office-cum-guest house. Neeraj is
a textiles trader based in the bustling
city of Shaoxing. The apartment is packed
with fabric samples on hangers. "And then,"
he says, "it began making sense." Evidently,
as he asks the cook to include dal in the
menu for lunch, in fluent Chinese. Neeraj
is one of some 1,200 Indians living and
working in Shaoxing, located three hours
south of Shanghai and on the southern wing
of the Yangtze delta. Shaoxing is popularly
known as the textiles capital of China and
even Asia. What is perhaps not popularly
known is the fact that it has the highest
concentration of Indians for any city or
town in China, more than Beijing and Shanghai
combined. Like Neeraj, most of the Indians
here are textile traders. And yet, very
few actually have come from India. Instead,
in a fascinating tale of economic migration,
they have been drawn over the last five
years from Dubai, Hong Kong, Taiwan and
even South Korea. Following the manufacturing
trail, so to speak. And the Chinese miracle
of scale and costs. Sitting in Shaoxing,
Neeraj and his associates source and supply
mostly wholesale fabric to markets the world
over, including West Asia, Africa, Iran,
Iraq and East Europe. India for them is
one of many markets. And they seem to be
working all the time. Precise figures are
hard to come by. But five years ago, the
Indian trading community used to export
around 200 containers every month, half
to India. Today, the community exports more
than 3,000 containers a month. At an average
of $30,000 a container, it is close to $1
billion worth of business. The margins are
wafer thin, though. The Indian traders'
share of exports to India has been rising
as well, to around 700 to 800 containers
a month today. Most of Shaoxing's Indian
traders started small. Neeraj hails from
Byas, Punjab. In 1992, after securing a
ITI diploma in air-conditioning and refrigeration,
he left for Dubai. "I was the first passport
holder in the family," he says. In Dubai,
he worked for a textile company (his diploma
did not take him far) and did mostly odd
jobs, including sweeping at the end of the
day. And then he began learning the trade.
Along the way, he set up his own trading
firm, sourcing fabric from Taiwan and South
Korea, and supplying it to West Asia. "I
saw the decline of the Japanese, the Korean
and the Taiwanese textiles markets and the
rise of China." Phulwani says, in the beginning,
he would export around 50 containers a month.
Today, he does almost 100. Of these, around
10 head for India. Phulwani also tried setting
up base back home. "The bureaucracy was
too much," he says. He has an office in
Mumbai, but he only visits it. A younger
brother from Dubai is here more often. So,
like many others, he is trying to make himself
feel at home here, in Shaoxing. That's getting
easier. There are four Indian restaurants
and two grocery shops, started by the members
of the traders' community, probably wanting
to diversify. And there is a Shaoxing Indian
Business Association as well. Phulwani happens
to be the president of this association.
He points out that associations are not
permitted in China, particularly ones with
religious affiliations. This one exists
"unofficially" with official knowledge,
he says. What does the future portend for
the Indian trading community ? Will they
migrate again ? Neeraj is not so sure. "There
are six or seven people in the chain now.
It has to come down. While business relationships
will matter, it will not be easy," he admits.
He wants to set up shop in Delhi, maybe
trade in other commodities as well. Ten
years, 15 years, lets see. China is growing,"
he says. Moreover, he says, there are no
hassles of doing business here. "They treat
us well, they respect us, there is no corruption."
When he is not working, he is keeping himself
busy with the association. "We have a lot
of get-togethers for festivals. But these
are social gatherings, not religious," he
insists.
Courtesy:
Business Standard, May 10, 2006
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Imagine:
Desi Dhamaka in MS World
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It's
a dream to be part of the world's premier
software technology contest. You get to
show you're good. It's even a bigger dream
to be in the final. You get to show you're
the best. One Indian team from the Dhirubhai
Ambani Indian Institute of Communication
and Technology has made it to the worldwide
finals of Microsoft's biggest tech competition,
Imagine Cup. And this Indian team will be
competing not anywhere else but in India.
It's only been four years since the Imagine
Cup has been instituted and already it has
come to India. The worldwide finals 2006
will be held in Agra this August. At stake
is $125,000. How did the competition get
here so fast? Sheila Gulati, Director -
Developer and Platform Evangelism, Microsoft
India , spoke to The Times of India about
India's natural talent in software technology.
Excerpts: How did Microsoft log on to India
to hold the world finals of the Imagine
Cup? We have 65,000 contestants from 181
countries vying for the cup this year. Of
this, 12,000 students are from India. We
began with just 1,000 students in 2003.
The strength of the Indian team is bigger
now. The bid for the venue was almost Olympics-like
. It finally came down to the quantum of
students participating . India was up there
in terms of numbers. And then we wondered
why shouldn't other students get to experience
a wonderful culture like India's? How is
Microsoft looking at reaching technology
where it matters? In the past four years,
students have come up with some wonderful
solutions during the contests . This year's
theme is health - a problem that affects
millions. The solutions students propose
here, if translated into products, can change
the lives of the people. How seriously is
Microsoft involved in organising the tech
contest every year? The fact that 181 countries
are participating this time speaks for itself
. We invest heavily in every aspect.
Courtesy:
The Economic Times, May 08, 2006
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Another
Indian Academic in House of Lords
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In
yet another instance of an Indian making
it to the House of Lords, Kamlesh Patel,
a veteran of the health and social sector,
has been elevated to the house as a non-party
peer. An academic with over 20 years of
experience in the health and social care
sector, Patel was previously awarded the
OBE and is head of the Centre for Ethnicity
and Health at the University of Central
Lancashire. Senior academics Meghnad Desai
and Bhikhu Patel were earlier appointed
to the House of Lords. Patel's work in the
health and social care sector has been widely
appreciated. He has also been a consultant
on various research projects and published
his work widely in academic and industry
journals. He is currently working with Scotland
Yard on serious and organised crime among
South Asian communities, among other projects.
"I regard this as the greatest honour that
anyone can receive, though I believe people
don't get this far in their careers without
the help, support, guidance and sacrifice
of lots of people. "I hope I will be able
to use the knowledge, experience and skills
that I have acquired over the last 25 years
in the health and social care field to make
a real difference where it really matters
and for the people that it really matters
to," Patel told the media.
Courtesy:
The Economic Times, May 05, 2006
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Breguet
Launched in Bangalore
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Swiss
watch company Swatch on Thursday launched
one of its most expensive watch - Breguet
- in Bangalore. Each Breguet watch is handmade
and a masterpiece in its own right, with
"simple design and complex artwork" being
the hallmark of these exclusive mechanical
watches, a top company executive said. Being
the "most complicated watch in the world",
the Swatch produces only 15,000 pieces of
Breguet in a year, available in 450 points
of sales across 45 countries, Rodolphe Schultheless,
Vice-President Worldwide Sales told reporters
unveiling some of the exclusive pieces here.
Bangalore was felt apt for the launch of
Breguet "which is not just a watch, but
a piece of art and a legacy", after Delhi
where it was launched in October last year,
because of the "city's strong art and cultural
links and also economics of the population,"
he said. Chritopher Viguerie, who heads
the sales in India, said "Breguet's performance
in India has been much faster than in China
where it was launched two years ago." "Our
performance in India has been much over
our expectations. After seven months, India
is already in the top 20 of the Breguet
global market and hope to be in the top
12 by the end of this year," he said. Even
the average price of Breguet sold in India,which
is Rs 16 lakh, is much higher than the average
price sold in other countries, he said.
Courtesy:
The Economic Times, May 05, 2006
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May
is India Inc Month in Maryland
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Commending
the Maryland India Business Roundtable for
its commitment and leadership in fostering
multi-faceted ties, the Governor of the
US state Robert Ehrlich has declared May
as the Maryland India Business Roundtable
Heritage Month. "The state of Maryland is
deeply enriched by the Indian American community
and seeks to further promote tolerance,
acceptance and equality", the Maryland Governor
said on Wednesday. "The Indian American
community in the State of Maryland has increased
by 89 per cent during the past decade and
today remains one of the state's fastest
growing communities," Ehrlich said in his
Proclamation which was read by an official
during the formal inauguration of the Maryland
India Business Centre. Noting the valuable
and significant contributions made by Indian
Americans in every profession and discipline,
he said "Maryland commends the Maryland
India Business Roundtable Inc for its commitment,
dedication and leadership which not only
enriches society, but promotes trade, commerce
and jobs creation, business opportunities,
art and cultural ties between Maryland and
India and community at large".
Courtesy:
Hindustan Times, May 05, 2006.
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After
having started it all - e-mail, search,
infotainment and having lost out to Johnny's
come late like Google and eBay, Yahoo, the
US$ 5.3 billion internet behemoth, is all
set to reinvent itself. Globally, that has
been on for sometime now. In India, Yahoo,
the internet, e-commerce and media company,
believes that internet in India is in nascent
stages. And this offers immense potential
for growth to the company. Says Jerry Yang,
the soft-spoken founder & chief, Yahoo,
on a whirlwind visit to India, "In India,
internet is still in the very early stages.
In many ways, even globally, internet is | |
