The Indian Economy (Page 19)

jagdu IF-Dazzler

Joined: 05 October 2007
Posts: 3135

Posted: 08 September 2008 at 4:55pm | IP Logged
To open up more opportunities of military technology companies like Boeing and Lockheed Martin George Bush wants to do business with India. Although The Indian Economy is slowing, it is stll growing fast, and the nation needs to increase power generation. Two central figures to determining the legislation's fate: Howard Berman, Chairman of house of Reps comittee on Foreign Affairs, and JOe Biden, now VP candidate who supports India's deal. Berman is afraid India will use the technology for military purpuses and said that Congress needs to study the NSG's decision. The deal could boost Indian spending on companies tp [rpvode 126 fighter jets to India for 8-10 billion dollors.
Reliance gets stake in Willow TVfor 75% stake
Reliance will spend 60-70 million$ so cricket fans can watch playfor the largest live streaming video site. Then Indian viewers can watch cricket, movies and long distance phone services through their computers and phones.Reliance has a network of 250 theaters in the US and website BigFlix. Reliance communications is India's 2nd largest wireless company by subscribers after Bharti Airtel.
Compromise reached over tata plant
An agreeement could allow construction to resume, but per one negotiator could not start! The W. Bengal govt said the state would try to return some of the land that has been forcibly taken from some farmers. How much land the suppliers needed before it could decide how much of the land could be given back to farmers. The state govt. contends it paid for the land in all but a very few cases where it legally seized it.
A struggle between India and the forces of industrialization and rural tradition's going on when W. Bengal needs investment. The problems at the plant could have cost Tata $100 million if it was forced to shift operations.

Edited by jagdu - 08 September 2008 at 5:23pm

Bonheur Goldie

Joined: 04 January 2007
Posts: 2009

Posted: 08 September 2008 at 6:03pm | IP Logged
Thanks, Jagdu. You said you wished RBI were a fully independent finance ministry. Doesn't the government already have a finance ministry? What India would need is a fully-independent central monetary institution like the Fed in the US, whose chairman doesn't change with the changes of government. Then, the RBI wouldn't be tempted to tweak monetary policy to help governments win elections.
That said, I think the role of independent central monetary institutions ultimately should be to do what is best for the country -- and using monetary policy to fight inflation is one of the responsibilities that they should take on.
jagdu IF-Dazzler

Joined: 05 October 2007
Posts: 3135

Posted: 09 September 2008 at 1:39pm | IP Logged
As the Selling Gets Hot, India Tries to Keep Cool
New Age Dilemna: Too sexy? Just Fun? The Choclate Man
The Ministry of I & B has stopped the Ax men's deoderant ad originally played in Argentina, followed by Europe. India's growing economy and rapid internationalization are adding to the issue, as they challenge India's homegrown mores in new ways. One Wild Stone body spray made by McNroe Chemical Pvt. Ltd. Co. based in Haridwar in the Indian state of Uttarkhand gives competition.
The market of mens gooming products overall in India stood at $320.9 million last year and is expected to grow to $366.4 million this year. Last year the sales of deoderants in India totaled $25 million.
Last year a court in Jaipur issued an arrest warrant of actor Richard Gere after he kissed Shilpa Shetty in an AIDS awareness event.
An Amul Macho underwear ad resounded with the targeted audience-young Indian men, even if the Indian government was'nt amused.
India is not as ready as the West is, but we are changing rapidly and there is increasing tolerance even among those who are not targeted by the ads. Organized road shows help companies better understand the boundries of indecency in advertising. Company presentations are given explaining the industy body's code. Companies are made aware and sensitized to what the public thinks about various ads.
Rice Leads Push for Nonproliferation
The Bush administration is agreed to remove India from it's blacklist after 3 decades.
NSG was pushed to complete a nuclear cooperation agreement with New Delhi. Ms. Rice argues that the deal will aid global counterproliferation efforts as Inda has agreed to greater oversight of its nuclear facilities by the IAEA. In return, India would be able to purchase nuclear fules and technologies from US and others. N. Delhi never signed the NPT.
The India deal has been part of a wider effort by the Bush Amd. to offer nuclear cooperation with foreign countries in a bid to better manage global flow of fissile materials.
Tata Delays Restarting Work Despite Deal to End Protests
Sunday, the state govt. and protesters unveiled a compromise over the disputed farmland acquired for the factory site. The co. is trying to figure out how the agreeement will affect the profitability of the project as well as the safety of it's workers. The W. Bengal govt. will try to return some land forcibly taken. Protesters demand 400 acres, the govt. says most farmers agreed to sell so the amount of land in dispute is about 200 acres.
Under the agreement, the govt. will decide within 7 days how much land can be returned and whether some farmers want their land back must accept plots outside Tata's complex.
Tata, which did not participate in the negotiations said it will see what happens to the land before sending it's employees back to work.
jagdu IF-Dazzler

Joined: 05 October 2007
Posts: 3135

Posted: 10 September 2008 at 11:48am | IP Logged

Vedanta to Invest $9.8 billion to Boost Aluminum Capacity
LONDON -- Vedanta Resources PLC, an India-focused metals and mining company, said it will invest $9.8 billion to boost its aluminum-smelting capacity in a bid to become one of the world's biggest producers of the metal ahead of Alcan, United Co. Rusal and Alcoa Inc.

London-listed Vedanta said it aims to increase capacity to 2.6 million metric tons a year by 2012 up from the 396000 tonnes it produced in the fiscal year ended up in March.
Vedanta investment plans will focus on projects in India, where the bulk of it's operations are. Of the total investment, $5.65 billion will be spent expanding the capacity of the Jharsaguda II project; $2 billion will be spent on the Korba III projct, and the remaining $2.15 billion will be invested in expanding the Lanjigarjh project.
Vedanta, which has a market capitalization of 4.5 billion pounds($7.92 billion) also said the company will be restructured int 3 commodity focused divisions: copper, zinc and lead.

jagdu IF-Dazzler

Joined: 05 October 2007
Posts: 3135

Posted: 11 September 2008 at 1:42pm | IP Logged
Indira Nooyi
Pepsico's CEO and Chairman was born in India 52 years ago, joined Pepsi as a head of corporate strategy 14 years ago. In an interview, Ms. Nooyi talked about managing in a volatile economic climate while expanding around the globe. Her game is to remain strong where growth is spectacular like in India, Pepsico is going to keep investing so that when the music stops they have a great shot at being up there as a leader.
Indira has Indian cuisine for dinner, a crisp  that is papadum, Lays Kettle chips or miss vicky's simply salt or Jalapeno. When her daughter drinks Pepsi, she always has half a glass. She thinks Ice cold Pepsi is to die for.
ArcelorMittal sticks by India Plan
The largest steel producer by capacity will press ahead with plans to build 2 plants in Eastern India with an annual capacity of 10 million tons. "We're still very excited about our Indian projects and we urge the government and other stakeholders to expedite the process.. Already there has been a delay of 2 years and costs have gone up more than 50%. The more we delay the more will be the cost overrun. The initial estimate on these projects is $20 billion" he said.
India's Infosys Forecasts Weaker Revenue Growth.
The co. said it expects weaker revenue growth in the current fiscal year and is seeing some project delays, casting doubt on whether technology spending is sustainable amid a worldwide economic slowdown. The CEO S. Gopalakrishnan in response to a question on whether there could be a turnaround in the market, "There's no update from our side. Uncertainty continues. The co.'s $715.6 million offer for UK based enterprise software consulting co. Axon Group PLC is a fair valuation of the co."
Infosys posted revenue of 167 billion Rupees a year earlier, a 20% year over year rise.
Tata Consultancy ASvcs. Ltd. CEO S. Ramadorai said net profit growth for the fiscal year will be weaker and that it is difficult to say when margin pressures and the global economic conditions will improve. Tata is India's largest software exporter by sales.
jagdu IF-Dazzler

Joined: 05 October 2007
Posts: 3135

Posted: 12 September 2008 at 12:47pm | IP Logged

India Car Sales Decline as Loan Rates Rise
Auto sales in India fell in August, the second monthly decline in a row and a new reason for concern for the global auto industry. India has kept global auto sales on the rise and provided needed profits for established automakers having trouble in the US. The drop in Indian sales serves as another warning sign. Vehicle sales fell 4.4% to 94584 cars from 98893 cars a yer earlier. In July, car sales decline 1.7% their first monthly drop since Nov. 2005 caused by loan rates at a 6 year high.
Maruti Suzuki Ltd., Hyundai Motor co. and other auto makers are introducing new models and also offering price discounts to boost sales. They think the Indian car market will rebound for the 350 million strong middle class will create more consumers.
Toyota Motor corp. says vehicle sales will double to 4 million units by 2015 and want 10% of that market. Car sales grew 6% during the first 8 months of the year to 491538 units, up from 463858 a year earlier.
Infosys sharpens India focus.
Infosys Technologies revenue surces: N. America 62%, Europe 28.1%,Rest of the world 8.6%, India 1.3%!
Infosys Technologies Ltd., one of India's biggest software exporters, said it will bid for three large information-technology projects from state-run companies BSNL-India's biggest phone company,Indian Railways and the ministry of commerce, a move that illustrates the company's growing focus on the local market, a late entrant to the local IT services market,is aiming to bridge the gap between itself and local leaders such as Tata Consultancy Services Ltd. and U.S. based International Business Machines Corp.
IBM, TCS and Wiporo ltd. have been on the Indian market for at least 5 years and has stayed off because for hardware components the yeild margins worldwide are 25% and in India it's just 17%.
But with the Indian economy growing fast and Indian companies looking to outsource more of their technological needs, Infosys has joined in, seeing a tremendous amount of growth coming from the domestic market.
The public-sector IT-services deals are in the range of five billion rupees to 15 billion rupees.
BSNL said Wednesday it had received bids from India's top technology companies, including TCS, Infosys, Wipro and Satyam Computer Services Ltd. for its ERP contract, which is valued at a minimum of four billion rupees to five billion rupees.

Cricket Goes Global With New TV Deal
ESPN Star Sports, a joint venture between Walt Disney Co.'s ESPN and News Corp.'s Star, paid $975 million for the exclusive, 10-year commercial rights for a new international cricket league based on a faster-moving, shorter version of the famously lengthy game.
The Indian Premier League, which consists of eight teams from different cities around the country, is the first city-based cricket league in India. The tournament will offer $6 million in total prize money and games will be broadcast globally.





jagdu IF-Dazzler

Joined: 05 October 2007
Posts: 3135

Posted: 13 September 2008 at 9:26pm | IP Logged

New Delhi Explosions Kill Up to 15
NEW DELHI -- Five blasts in heavily-populated market areas and near a subway station around India's capital in less than an hour Saturday evening killed at least 15 people and injured more than 80, capping a summer of attacks around the nation targeted at economic areas.

Indian Mujahideen, an Islamic extremist group, claimed responsibility for the attacks in an email to Indian media outlets.

The Delhi blasts were triggered at a popular shopping hour early evening Saturday, a working day in Delhi. Police defused two other live bombs, one at a cinema and one in a children's park near India Gate, the monument in the heart of the city on New Delhi's equivalent of the National Mall in Washington and a popular spot for an evening excursion for families.

Police say Indian Mujahideen is a front for the Students Islamic Movement of India -- a terrorist group banned by the Indian government since 2001. In previous emails, Indian Mujahideen had warned that Delhi would be a target. Shahbaz Hussain, a senior SIMI leader when the group was banned in 2001, was arrested Aug. 25. A 32-year-old cyber-cafe owner in Lucknow, Uttar Pradesh, police say he is the sender of past emails attributed to Indian Mujahideen. Rajasthan police say he also was the mastermind of the Jaipur attacks. Indian Mujahideen also sent an email before the Ahmedabad blasts claiming the group's responsibility.

Among the five blasts in New Delhi, one was in Karol Bagh near the city center's commercial district; two were around Connaught Place, a shopping area in the center of the city popular with tourists and locals alike; two were in the popular middle-class M Block Market in Greater Kailash 1, a tony residential district in South Delhi. One eyewitness near one of the Connaught Place attacks said there was a loud blast followed by people running in panic. The area is heavily policed and officers were on the scene in two minutes. They ordered local stores shuttered.

Since the Ahmedabad and Jaipur blasts, police have made more about 30 arrests and squarely placed blame for the attacks on SIMI, an organization founded as a Muslim charity about three decades ago which in recent years government officials contend has become radicalized and turned to terrorism. The Bangalore attacks remain under investigation.

India has been the target of repeated terrorist attacks attributed to Islamist terrorists. Experts say the vast majority of those attacks in the last few years were carried out by SIMI with help from outside India, chiefly Pakistan. The deadliest attack attributed to SIMI took place in July 2006, when blasts ripped through crowded trains in Mumbai, India's financial capital, killing close to 200. SIMI has been responsible for most of 1,193 deaths attributed to Islamic terrorists in India since Sept. 11, 2001, according to the South Asia Terrorism Portal, a New Delhi research firm.

Indian police, however, have had severe difficulties in bringing successful cases against alleged SIMI members in part because confessions to police in India aren't admissible in court as they are in many other countries. Indian intelligence gathering rarely is of a quality that passes evidentiary scrutiny in court. And witnesses for the prosecution frequently renege on their testimony because of the time -- often more than a decade -- it takes for cases to be heard.

For at least the first two decades of its existence, SIMI was a student group focused on giving scholarships, helping disaster victims, and spreading Islamic ideology. In 2001, shortly after the Sept. 11 terrorist attacks in the U.S., the Indian government banned SIMI for its alleged efforts to stoke sectarian violence. At the time of the ban, its total membership was estimated at around 2,400 with some 400 actively involved, according to a senior SIMI leader at the time. Others have put the figure much higher.

Even by the time of the ban, some SIMI members already had become disillusioned with the increasingly extremist tone that SIMI's leaders adopted in the wake of the demolition of the Babri Masjid mosque in the state of Uttar Pradesh by Hindu fundamentalists in 1992. "After the Babri Masjid demolition, on the ideological front, the organization adopted a militant approach," said Sayeed Khan, 38 years old, a scrap dealer in Mumbai. A former president of SIMI's Mumbai chapter, he says he quit the organization that year as it tilted toward extremism.

Despite the government ban, government documents contend that a core of SIMI members has remained active in organizing terrorist training camps, distributing jihadist literature, holding secret meetings and adopting other identities to avoid detection. Experts contend that the group has allied itself with foreign terrorist organizations such as Lashkar-e-Taiba, a Pakistan-based militant outfit fighting for the independence of Kashmir. It has been banned by both India and Pakistan.

jagdu IF-Dazzler

Joined: 05 October 2007
Posts: 3135

Posted: 15 September 2008 at 1:30pm | IP Logged
Blasts show rise of India's home grown terrorists
Five bom blasts killed 21 people in India's capital Saturday by a group that calls itself Indian Mujahideen that sent a 13 page Email to media outlets claiming responsibility for New Delhi's bombs which went off in popular shopping spots Saturday evening where almost 100 people were injured. The country is severely underpoliced compared with the West and most police officers lack the expertise to investigate terrorism cases. India has approximately 150 million Muslims in its population of 1.1 billion.
The Delhi bombings email contains a well known photograph of a Muslim man caught in anti-muslim riots in Gujarat in 2002. " Never assume that we have forgotten the demolition of Babri Masjid, and by Allah, we can never forget it," the email said.

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