Government plans a comprehensive system to extend oilfield contracts

Source: Economic Times via Indian Economic Business News

The government is putting in place a comprehensive system to extend oilfield contracts with private and public companies to help field operators such as Cairn India know well in advance if lease for the oilfield they operate will be extended for another term. Oilfields are leased to companies for 15-25 years, but before the lease expires the company needs to know if it will retain the field so that it can decide whether or not it should invest thousands of crores of rupees to produce oil and gas. To facilitate this, the government has constituted an inter-departmental committee to extend petroleum leases in producing blocks such as BG- operated Panna-Mukta and Tapti oilfields, JTI’s Dholka oilfield and Cairn India’s Rajasthan block. The committee will also decide terms and conditions for such extensions, officials said. “The scope of this committee can be extended to include several other exploration- related issues that may include recent proposal of DGH disallowing eight discoveries in the D6 block because of some timeline issues,” one official said. Last year, the government granted 20.5 sq km additional area in the prolific KG basin to Gujarat State Petroleum Corp, as the company’s fields extend beyond its block located near gas discoveries of Reliance Industries and ONGC.

New India Assurance plans to enter Qatar, Canada

Source: Hindu Business Line via Indian Economic Business News

State-owned general insurer New India Assurance is in the process of leveraging its presence in the overseas markets. The company currently operates across 22 countries. It plans to enter Qatar, Myanmar and Canada this fiscal, according to G. Srinivasan, Chairman-cum- Managing Director. He also said “There are challenges in overseas operation. First of all, we are a foreign company. Then, there is the general slowdown; there are regulatory restrictions and finally, the bias towards overseas companies in some places. But, we have managed quite well. Our reputation and international rating has helped us penetrate into newer markets.” ‘We are trying to revive our operations in Canada, where we were present some years ago, but Qatar is a new market for us.”

Setting up of new major ports in the states of West Bengal and Andhra Pradesh

Source: Press Information Bureau via Indian Economic Business News

The Cabinet Committee on Economic Affairs (CCEA) on May 9th approved the proposal of the Ministry of Shipping for:

(i) setting up a new major port at Sagar Island in West Bengal through the Public Private Partnership (PPP) mode by following the extant procedures for project appraisal/approval, including obtaining environmental clearances, etc.

(ii) appointing the transaction advisers and legal consultants and initiate the bidding process for award of the project and to finalize the project structure in consultation with the State Government of West Bengal and the Planning Commission,

(iii) commissioning the techno-economic feasibility reports for the new major port at Dugarajapatnam locations, and
(iv) constituting of an Empowered Committee of Secretaries (ECS), to be chaired by Secretary (Shipping) and comprising Secretary, Department of Economic Affairs, Secretary, Planning Commission, Chairman, Railway Board, Secretary, Road Transport and Highways and Secretary, Department of Legal Affairs, to take appropriate decisions in regard to the project structuring, as well as other implementation related issues.

India’s ‘Mr. Incredible’ tries to bring the country up to speed

Source: Economic Times via Indian Economic Business News

India has long been cited as one of the fastest growing economies in the world, but it hasn’t always been the most hospitable place for business travelers. Ranked 132 out of 185 on the World Bank’s Ease of Doing Business Index, the country is often viewed as a hassle by executives. Part of the problem is that India has grown faster than its infrastructure. “Infrastructure that we created for 2020 are already getting filled up by 2012,” says Amitabh Kant, the man who is planning to bring India up to speed by 2017. Kant already revolutionized his country once. The instigator of the “Incredible India” campaign, he polished India’s flagging tourism image and turned it into a must-visit destination for the discerning traveler. Marketing aside, the campaign made sure journeying through the subcontinent was met with relative ease. Roads were repaved, landmarks rebuffed and the sector as a whole was trained to work with foreign guests. Today, the country sees 6.8 million overseas tourists annually. Now he is tackling what may be India’s most ambitious infrastructure project to date. The Delhi-Mumbai Industrial Corridor, a $90 billion state-run enterprise, will involve connecting the 932 mile stretch between Delhi and Mumbai with new ports, airports, highways and rail links. For Kant, though, the real achievement will be the undertaking’s economic knock-on effect.

Asian Television Network to launch Hindi and Bengali Channels

Source: Canada Stockwatch via Indian Economic Business News

Toronto-based Asian Television Network International Ltd. has signed licensing agreements under which it has been granted exclusive rights to the Star Utsav and Star Jalsha channels, both of which are from Star Network-India, a part of Fox International Channels. Star Utsav is a 24-hour Hindi general entertainment channel while Star Jalsha is an Indian Bengali general entertainment channel.

Harper Government tables social security agreement with India

Source: Canada Newswire via Indian Economic Business News

On April 23rd, the Honourable Diane Finley, Minister of Human Resources and Skills Development, tabled in the House of Commons the Social Security Agreement between Canada and India, which will coordinate pension benefits between both countries. “Our government is committed to ensuring retirement security for Canadians, whether here or abroad,” said Minister Finley. “This agreement will reduce the pension contribution costs for Canadian companies sending employees to India and ensure that those same Canadian employees receive the pension benefits they are entitled to for time spent working abroad.” Once in force, this agreement will also make it easier for people who have lived and worked in both India and Canada to qualify for public pension benefits from either, or both, countries. Periods of coverage under the Employees’ Pension Scheme of India may help towards eligibility for Canadian benefits and vice versa. Canada has signed 57 social security agreements; 53 are currently in force. The Social Security Agreement between Canada and India is expected to enter into force in 2014, once both countries have completed their legislative procedures.

CIEC Introduces Major Changes to CARE: Shortened & Inclusive Process, Decreased Fees, Free Application Pre-Screening

The Canada India Education Council has opened Agent Membership (CARE) to education agents, advisors, and counselors. After receiving feedback from education agents, CIEC has introduced significant changes to CARE:

  • Decreased Membership and Application Fees
  • Application Fee
    • Before: $525, Now: $225 (Sign up now and enjoy a FREE Pre-Screening)
  • Membership Fee
    • Before: $1500 – $4500, Now: $999 for a 2-year period
  • Application Fee waived for agents applying between June 1st 2013 – July 1st 2013
  • Membership Decision will be made upon receipt of the Application Form
  • Inclusive Process – Agents will not be tested on their compliance with CARE Standards (Voluntary Code of Ethics)
  • Process shortened from 4 – 6 months to 1 – 2 months
  • CIEC no longer conducting Site Visits or Staff Assessments
  • DFAIT training no longer mandatory
  • CIEC will organize an annual CARE Training Seminar in one or more major Indian cities

It is our hope that a more inclusive process will create a more immediate and widespread change in the student recruitment market. To get started please complete and send the Application Form (click here to download) to [email protected].

Benefits of Agent Membership (CARE) include:

  • Use of CARE logo and goodwill of the ‘CIEC’ brand
  • Display of CARE – Recognized Membership Certificate and Membership Statement
  • A listing in the bi-weekly CIEC online newsletter, ‘Disha,’ besides opportunities for marketing on the CIEC website, newsletter, events and e-mail campaigns distributed to 19 000 education stakeholders in both countries
  • Listed as a recognized CARE agent on CIEC’s website (with a dynamic profile linking to your services) and social networking platforms
  • Use of the CIEC Representative Office in Toronto to establish your presence in Canada. CIEC can also arrange face-to-face interviews at our member institutions
  • Exposure at our annual Synergyblockbuster networking event. Includes a reduced registration fee and for agents arriving from India, free airport pick-up & a one-night free stay at the hotel
  • Greater visibility and recognition by CIEC member colleges and universities as well as governments in both Canada and India
  • Exclusive airport pick-up for your students (for a nominal fee)
  • Access to CIEC webinars, networking and training events
  • Access to Annual Training Seminar in one or more major Indian cities
  • Establish your reputation and promote your business through an advisory position on our ‘Student Discussion’ Facebook group / website forum
  • Personalized assistance & insights in growing your network of reputable Canadian institutions & on-the-ground support

For more information about membership benefits, please visit: http://canadaindiaeducation.com/care/benefits

The much-lauded CARE Initiative is designed to bring transparency to the agent sector in India by promoting the CARE Standards. CARE is supported by CIEC’s member institutions which includes Canadian Colleges & Universities and is poised to soon become the benchmark & establish standards for counselors and agents promoting Canadian education in India. Agent Membership (CARE) will be granted by the CIEC Executive Team in consultation with the impartial Membership Committee, comprised of academic experts representing 3 major Canadian Colleges.

CARE serves as a cost-effective way for education agents to gain exposure, establishing their credentials, and distinguishing themselves in the exciting Canada-India education corridor. Agents wishing to strategically position themselves in an increasingly fierce and competitive international environment are invited to become an CARE Recognized Member of the Canada India Education Council.

To get started please complete and send the Application Form (click here to download) to Gaurav Verma at [email protected].

We look forward to working with you and becoming a trusted partner as you guide students to quality post secondary institutions in Canada.

Regards,

imgHusain                                                imgRoseann

Husain F. Neemuchwala                                      Prof Roseann O’Reilly Runte, President & Vice Chancellor,
CEO – CIEC                                                            Carleton University
                                                                                      Academic Advisor – CIEC

 

India one of the top tourism destinations in Asia

Source: Times of India via Indian Economic Business News

India is one of the top tourism destinations in Asia, according to findings from a CNN global travel survey released recently. The results also position the country as the region’s fourth fastest growing tourism destination and the third most attractive business for investment opportunities, right after China and Hong Kong. One-fifth of CNN’s audience of global travelers considering a visit to Asia Pacific, would consider visiting India in the 12 months and experts say its celebrated culture could be a prime reason. The destination fended off competition from Japan and Thailand to rank as the no. 1 destination in the region with the second richest culture and heritage, with only China scoring more in this category. The study, entitled ‘CNN Consumer Connect – Travel and Tourism 2013’, looks at consumer travel trends, perceptions and behavior, and was hosted on all CNN websites worldwide. It polled more than 3,000 readers based in over 70 countries around the world and included 25 Asia Pacific destinations. Duncan Morris, vice-president of Research at Turner International Asia Pacific, said, “These results are great news for India and the Asia Pacific region as a whole. CNN consumers are discerning, affluent global travelers and they clearly indicate a desire to visit this part of the world to enjoy a particular brand of hospitality, food, culture – everything that makes a travel experience distinctive. At a time where money in the household is perceived to be tighter, spending on travel is still obviously a priority for many.”

Canadian exporters need to find India’s sweet spots

Source: Globe and Mail via Indian Economic Business News

India accounts for less than 1 per cent of Canada’s trade and investment, according to official estimates. Yet, India accounts for 7 per cent of the world economy today. It is expected to rise to 11 per cent by 2030 and to 18 per cent-almost one-fifth-of the world economy by 2060, according to OECD estimates. So how do more Canadian companies actually start taking advantage of opportunities in fast-growth markets such as India? A good starting point is to identify sectors of the Indian economy that land in the “sweet spot” – they are sizable, dynamic, fast-growing, and present relatively few barriers to Canadian businesses. A new Conference Board study, “The Hottest Markets for Canadian Companies in India,” finds many fast-growing, sizable, profitable, dynamic sectors. So the study’s final list of hottest markets includes only those fast-growth sectors that are relatively open to Canadian business. The final list includes eight Indian service sectors, 10 manufacturing sectors, and eight resources or agricultural sectors. In many of these hot markets, Canada has demonstrated international commercial strengths. These industries include: infrastructure and related activities, the auto sector and supply chain, services. The challenges in India are tremendous, but so are the long-term opportunities. India’s growth prospects are far above the meagre rates seen in Canada’s traditional trade partners. With a free-trade deal in the works, and an investor protection agreement negotiated (though on hold on India’s side), Canada has started toward removing barriers for its companies in India.

Parliamentary Secretary Obhrai highlights Strong Relationship between Canada and India

Source: Marketwire via Indian Economic Business News

Deepak Obhrai, Parliamentary Secretary to the Minister of Foreign Affairs, recently addressed the delegates of the inaugural Canada-India Oil and Gas Forum. Parliamentary Secretary Obhrai outlined the government’s aggressive work to reach new markets for Canadian natural resources and advance two-way trade and investment with India. “Canada and India benefit greatly from our mutual economic and cultural ties,” said Parliamentary Secretary Obhrai. “The Government of Canada continues to aggressively pursue agreements that would help fulfil the energy needs of one of the fastest-growing regions in the world.” Canada and India have complementary interests. India is the third-largest consumer of energy in the world and seeks diversification of supply to provide greater energy security and to fuel its dynamic growth. India is looking to Canadian energy exports to help power its transformation into an economic giant. “Increasing Canadian exports to the Asia-Pacific region is vital to Canada’s future prosperity,” said Parliamentary Secretary Obhrai. “Canada’s vast energy resources are essential to the quality of life of Canadians from coast to coast, as they make a vital contribution to Canada’s economy. This is why we will continue to encourage investment and responsible development of those resources.”

Indian IT companies set to be hit as Canada tightens visa norms for foreign workers

Source: Globe and Mail via Indian Economic Business News

Canada has joined the US in tightening the visa regime for foreign workers, a move that could be detrimental for Indian IT service companies with operations in that country. Seen by experts as a ‘knee-jerk’ reaction to the recent controversy surrounding iGate and Canadian bank Royal Bank of Canada (RBC), the move is set to increase the time and costs associated with procuring a temporary work permit. The Accelerated Labour Market Opinion (ALMO) programme, a fast-track immigration programme to secure a temporary work permit in two weeks, has also been suspended. Indian companies will now have to revert to the Labour Market Opinion (LMO), a time-consuming process, compared with H1B visa regime in the US. A LMO is an authorisation that a recruiter has to obtain from the Canadian state, if a job has to be offered to an Indian. Moreover, the employer has to prove that it had advertised for the position across Canada, but was unable to find a qualified Canadian to do the job. The latter is what makes it time-consuming. Moreover, a new fee will be imposed on employers when they apply for an LMO. In addition, the Canadian Government also intends to increase work permit fee from the present $150. However, it has not specified the quantum of the rise. In its third change, Canada has also disallowed a rule allowing companies to pay temporary foreign workers 15 per cent less than prevailing wages for high-skilled positions, and five per cent less for low-skilled ones.

Hilton aims to have 50 hotels in India by 2016

Source: The Times of India via Indian Economic Business News

Hilton accelerated its pace of expansion outside its home market in the US after Christopher J. Nassetta, President and Global CEO, Hilton Worldwide, came on board in 2007, soon after private equity giant Blackstone purchased the chain. At that time, around 85% of Hilton’s pipeline was within the US. It’s changed since. Currently, more than 60% of its pipeline is outside the US. In the last six years, Hilton opened more than 1,100 hotels globally. Hilton entered India through a brand franchise agreement with Oberoi Hotels in 2004. Four years later, it charted out its own growth path, striking franchise and management contracts with Indian property owners. Nassetta said the chain, which currently operates 12 hotels with 2,000 rooms in India, has lined up another 20 hotels with 3,500 rooms which will open doors to guests in the next eight months. “Our target is to have 50 hotels by 2016,” said the Hilton chief, adding that almost all the Hilton brands, except its timeshare brand Hilton Grand Vacations, would dot the Indian skyline. The 94-year-old chain owns 10 brands such as Waldorf Astoria, Embassy Suites and Homewood Suites by Hilton. Of these, only four brands are present in India, operating in the upscale and mid-market space. The company is getting into the luxury segment with the launch of the 250-room Conrad in Bangalore shortly.

India’s gemstones market to double to $3.6 billion in 5 years: Gemfields

Source: Indo Asian News Service via Indian Economic Business News

The coloured gemstones market in India is expected to double to $3.6 billion in the next five years, Gemfields Plc, the world’s leading precious stones miner, said. “$1.8 billion is the total size of the coloured gemstone market in India. We are expecting a growth of 20 percent every year for the next 10 years,” Rupak Sen, Gemfields India regional marketing director- Asia, said. According to Sen, India’s gem and jeweler market was estimated at $30 billion and out of which the market share for all categories of coloured gemstone was almost 6 percent. London-based Gemfields mines mainly emeralds in Zambia, but recently ventured into rubies, processed in Mozambique. The company auctions rough stones in Singapore.

 

India develops cheap vaccine against major cause of diarrhea deaths in children

Source: Toronto Star via Indian Economic Business News

The Indian government announced recently the development of a new low-cost vaccine proven effective against a diarrhea-causing virus that is one of the leading causes of childhood deaths across the developing world. The Indian manufacturer of the new rotavirus vaccine pledged to sell it for $1 a dose, a significant discount from the cost of the current vaccines on the market. That reduced price would make it far easier for poor countries to vaccinate their children against the deadly virus, health experts said.

India, long the home of outsourcing, now wants to make its own Chips

Source: New York Times via Indian Economic Business News

The Government of India, home to many of the world’s leading software outsourcing companies, wants to replicate that success by creating a home grown industry for computer hardware. But unlike software, which requires little infrastructure, building electronics is a far more demanding business. Chip makers need vast quantities of clean water and reliable electricity. Computer and tablet assemblers depend on economies of scale and easy access to cheap parts, which China has spent many years building up. So the Indian government is trying a new approach. In October, it quietly began mandating that at least half of all laptops, computers, tablets and dot-matrix printers procured by government agencies come from domestic sources, according to Dr. Ajay Kumar, Joint Secretary of the Department of Electronics and Information Technology, which devised the policy. At the same time, it is potentially providing as much as $2.75 billion in incentives in front of chip makers to entice them to build India’s first semiconductor manufacturing plant, an important step in building a domestic hardware industry. According to Indian media reports, two consortiums have been in talks with the government to build microprocessor foundries. The first is led by the Jaypee Group, one of India’s largest construction companies, which built the country’s Formula One track in Uttar Pradesh. It has partnered with I.B.M., which will provide the technology. The second bid is from the Hindustan Semiconductor Manufacturing Corporation, an American company that, despite its name, does not manufacture any chips. It has partnered with the Geneva-based chip maker STMicroelectronics. Source: New York Times

India ranks 8 among 27 most powerful nations in world

Source: The Times of India via Indian Economic Business News

India is among the top 10 most powerful countries in the world. In a first-of-its-kind study of “national power” a group of eminent strategic experts and scholars have placed India at the eighth position among a group of 27 most powerful countries in the world. The study, conducted by the New Delhi-based Foundation for National Security Research (FSNR), judged “national power” by various indices, including energy security, population, technological capability etc. An interesting index of national power was judged by “foreign affairs capability”, which includes self-reliance in defence, membership of multilateral groupings, role in global rule-making and soft power. Interestingly, though China comes out as the second most powerful nation in the world after the US, Chinese foreign affairs’ capability is comparable to India’s, even though in terms of total power New Delhi comes way below Beijing. Professor Satish Kumar, introducing the study, said, “The Group of Experts evolved a criterion consisting of the following elements for the selection of countries which could be regarded as actually or potentially the most powerful: (i) Population above 50 million; (ii) GDP above US$ 500 billion; and (iii) defence expenditure above US$ 5 billion.” The effort, he said, was to have an Indian assessment of indices of power. The US is by far the world’s most powerful nation, several notches ahead of its nearest competitor, China.

India says it plans to double renewable energy sources by 2017

Source: Thomson Reuters via Indian Economic Business News

The Indian government recently said it planned to double its renewable energy capacity by 2017. Prime Minister Manmohan Singh said that India would ramp up its use of wind, solar and biomass energies in the coming years. “It is proposed to double the renewable energy capacity in our country from 25,000 MW in 2012 to 55,000 megawatts by the year 2017,” he said at the Fourth Clean Energy Ministerial conference in New Delhi.”We have set ourselves a national target of increasing the efficiency of energy use to bring about a 20 to 25 per cent reduction in the energy intensity of our GDP by 2020.” Mr. Singh said that a low carbon strategy was necessary for sustainable growth. Mr. Singh, however, said these non- conventional sources of energy had reduced in price but were still higher than dirtier, more conventional sources of power, like coal. It will soon be the second-largest contributor to increasing global energy demands, accounting for 18 percent of the growth. Despite intense sunshine throughout the year, India has little solar capacity and much of its solar hardware is manufactured abroad. Mr. Singh said that that needs to change. “India is potentially a large market for production of such (solar) equipment and it is also a potentially competitive, attractive production base for supplying other countries,” he said at the conference.

More reforms coming in 2-4 months: Chidambaram

Source: Indo-Asian News Service via Indian Economic Business News

Finance Minister P. Chidambaram has ruled out the possibility of early elections and said the government will take more reform initiatives in the next two-four months in a bid to boost economic growth and contain deficit and inflationary pressure.“We will continue to take small significant steps. We will also take forward some big ideas. India’s economy will continue to reform,” Mr. Chidambaram said at The Economist’s India Summit organised by the UK-based economic magazine recently. Mr. Chidambaram said the government will push for the passage of major reform regulations, like land and insurance bills, in the ongoing budget session of parliament.The finance minister said the government would need support from the main opposition party to get the bills passed in parliament.“There are many more executive actions that have to be taken, some of these executive actions we will take in the next 2-4months,” Chidambaram said. In the last one year, the government has taken several initiatives to push forward reform process. The steps include cutting subsidies on petroleum products and liberalizing overseas investment norms for retail, aviation and some other sectors. The finance minister said he was hopeful to keep fiscal deficit below 4.8 percent of the gross domestic product (GDP) in the current financial year.

Anand Sharma launches 21 new textiles parks

Source: Press Information Bureau via Indian Economic Business News

Union Minister for Commerce, Industry and Textiles Anand Sharma launched 21 New Textile Parks approved under Scheme for Integrated Textile Parks (SITP). These new parks take the total number to 61 parks as 40 Parks were sanctioned earlier. The Scheme for Integrated Textiles Parks (SITP) has been instrumental in development of wide range of models for green field clusters from a 1000 acre FDI driven integrated cluster, to a 100 acre power loom cluster and a 20 acre handloom cluster. Under the scheme, 61 parks have been sanctioned-40 projects were started in the 11th Five Year Plan and another 21 projects are to be implemented in the 12th Five Year Plan. Out of the 40 parks sanctioned earlier, a total of 25 Parks are already operational. Most of the balance Parks are expected to be completed during this financial year. The estimated employment generation is over 10 lac persons with total estimated investment of Rs. 27, 562 crore. Out of the 21 new parks, six are in Maharashtra, four in Rajasthan, two each in Andhra Pradesh and Tamil Nadu and one each in Uttar Pradesh, West Bengal, Tripura, Karnataka, Gujarat, Himachal Pradesh and Jammu & Kashmir.

Government boosts incentives to give exports a leg-up as growth picks up for 3rd month

Source: Hindustan Times via Indian Economic Business News

The government on April 18th announced a host of measures to boost India’s exports including sops to special economic zones (SEZs). The initiatives announced by Commerce and Industry Minister Anand Sharma as part of the annual supplement to the Foreign Trade Policy (FTP) are aimed at pushing exports which declined by 1.76 per cent to USD 300.6 billion during 2012-13 and pushed up the trade deficit to USD 190.91 billion. These included easier land requirement norms, simpler exit options, cheaper credit and tax breaks for import of machinery. The new rules for SEZs will allow IT firms to claim tax breaks by moving offshore work to such duty-free enclaves. The earlier requirement of minimum 10-hectares for such campuses has been done away with and IT SEZs can now be set up if the these are spread across at least 100,000 square metres in seven major cities including Mumbai, Delhi and NCR, Chennai, Hyderabad, Bangalore, Pune and Kolkata. For category B cities, IT companies can set up SEZs even in a smaller built-up area of 50,000 square metres and for remaining cities in only 25,000 square metres. In view of the acute difficulties in aggregating large tracts of uncultivable land for setting up SEZs, the government also halved the minimum land area requirement to 500 hectares for multi-purpose SEZs and to 50 hectares for sector-specific SEZs. It has also been decided to permit transfer of ownership of SEZ units, including sale of units. Exports in March 2013 stood at $30.8 billion (Rs.1,69,400 crore), compared to $28.8 billion ( Rs. 1,58,400 crore) in the same month of the previous year. Imports dipped by 2.87% to $41.16 billion in March, leaving a trade deficit of $10.31 billion-down from $13.5 billion in March last year.

Economy to grow at 6.4 percent in 2013-14: PM panel

Source: Indo-Asian News Service via Indian Economic Business News

The Indian economy is expected to grow at 6.4 percent in the current fiscal against the estimated 5 percent expansion registered in the previous year, the Prime Minister’s Economic Advisory Panel said. “The economy has bottomed out and we will achieve higher growth of 6.4 percent in the current financial year,” Prime Minister’s Economic Advisory Council chairman C. Rangarajan said recently. He said agriculture sector growth is likely to increase to 3.5 percent 2013-14 as compared to the estimated 1.8 percent growth in the fiscal ended March 31, 2013. The growth of manufacturing sector is likely to increase to 4 percent in the current financial year as compared to 3.1 percent in the previous year. The services sector is estimated to expand by 7.7 percent in 2013-14 as compared to 6.6 percent growth projected for the previous fiscal. Mr. Rangarajan said growth would accelerate further if the government expedites clearance for major projects. “If we take action for speedy implementation of projects we can achieve the higher rate of growth quickly even in the short-term,” he said. According to the panel’s estimate, the country’s main inflation is expected to be at around 6 percent in the current financial year as compared to the estimated 5.96 percent at the end of the financial year 2012-13. Mr. Rangarajan said moderation in inflation would give scope for monetary policy easing by the central bank. The central bank has been maintaining tight monetary policy for the last three years to contain inflation.

Meghalaya government seeks report on Garo Hills rape

Source: Times of India

SHILLONG: The state government has sought a detailed report from the West Garo Hills district administration on an incident of rape of a girl by miscreants from neighbouring Assam in Boldamgre village of the Garo Hills.

Social welfare minister Deborah C Marak convened a meeting with principal secretary (social welfare) PW Ingty and other officials in which they discussed the incident. “We have asked the concerned district administration to submit a report on the unfortunate incident,” Marak told reporters.

The state police have also asked their counterparts in Assam to arrest the absconding accused involved in the case.

“On Sunday morning, over a dozen armed miscreants from the Hat-Singimari region of Assam numbering entered the village and raped an 18-year-old girl in the village, about 12 km from Garobadha town. They also went from house to house attacking people and looting them,” a police spokesperson said.

Reportedly, the girl was attacked by the criminals and she was raped by an unidentified person. The dacoits also took away Rs 7,000 from the house of one Gajang Sangma after assaulting his family members.

Meanwhile, several NGOs, including the North East Network, have condemned the rape.

“It’s shocking that despite evidence of increasing sexual violence against women, the state government has not been able to enforce the anti-rape law strictly. The law puts special onus on the police department to act in cases of atrocities on women,” NEN said.

On the other hand, concern over sexual assaults on minors in Meghalaya is on the rise, with even the state home minister, Roshan Warjri, recently voicing her anguish in the state assembly over atrocities on women perpetuated in random in the state, which, ironically follows a matrilineal system.

Investigation is already underway in the incident of gang rape of a school girl in the Garo Hills a few months ago.

India’s cheap food plans to prove costly for government

Source: Reuters

India may soon pass a new law to give millions more people cheap food, fulfilling an election promise of the ruling Congress party that could cost about $23 billion a year and take a third of annual grain production.

The National Food Security Bill, which aims to feed 70 percent of the population, could widen India’s already swollen budget deficit next year, increasing the risk to its coveted investment-grade status.

The ambitious bill, a priority for Congress President Sonia Gandhi, will raise India’s annual food subsidy spending by 45 percent. It promises wheat and rice at a fraction of the cost to some 810 million people, expanding current handouts to roughly 318 million of India’s poorest.

Critics say the food bill is little more than an attempt to help Congress, reeling from corruption scandals, win re-election in a vote expected by next May.

The government has already budgeted 900 billion rupees ($16.6 billion) for the scheme in the current fiscal year ending March 2014. If the bill is passed, it will need to come up with as much as 1.3 trillion rupees in 2014/15, adding to a total subsidy burden that already eats up about 2.4 percent of gross domestic product.

“It is very difficult to say whether the government will be able to get the Food Security Bill passed or not, but it is definitely going to further widen the budget deficit,” D.H. Pai Panandiker, head of private think-tank RPG Foundation, said.

“The finance minister is already worried about the budget deficit, and it is going to add to his agony.”

Reducing fuel and fertilizer subsidies would be the best way of mitigating the costs, Panandiker said. Other measures will also be needed to fund the plan, which may include spending cuts and higher taxes.

Finance Minister Palaniappan Chidambaram said in March the rollout of the new food subsidies was unlikely to happen before the middle of the current fiscal year, which started April 1, curbing the financial cost. Chidambaram aims to cut the fiscal deficit to under 4.8 percent of GDP in the current year from around 5 percent in 2012/13.

BULGING STOCKS

Feeding its poor is a matter of urgency for India, home to about 25 percent of the world’s hungry poor, according to the World Food Programme, the food aid arm of the United Nations.

India is one of the world’s biggest producers of rice, wheat and sugar, but it is also one of the largest consumers with a 1.2 billion population. It exports little and builds up stockpiles to cover handouts, which are now overflowing after bumper harvests, which have come close to 200 million tons a year of rice and wheat.

The law would have little effect on India’s export volumes in a good crop year, but “in a year of shortage, there could be some impact” on international markets, a Singapore-based trader said.

The bill will give rice at 3 rupees per kg to the poorest people, less than 10 percent of current retail prices, and wheat at 2 rupees per kg.

The government estimates it would need about 61 million tons of grains, only 3 million tons than it currently makes available, to provide the extra food, hoping better distribution systems and a clamp-down on corruption will reduce wastage.

Last year only about 41.4 million tons was actually distributed by state governments in cheap food schemes.

The Congress party, which leads the ruling coalition, wants to pass the bill by May 10 when the parliament session ends.

But debate this week has been disrupted by opposition parties, which say the government is pushing the populist move as a smokescreen to avoid defending itself over corruption scandals.

Last week, police arrested the nephew of Railway Minister Pawan Kumar Bansal in connection with allegations that he accepted a bribe of $160,000 to arrange the promotion of a railway official.

The government may try to pass the bill again in the parliamentary session that starts around July 23 or push it through without a vote when parliament is not sitting, using special constitutional powers. It must then win approval for the bill within six weeks of parliament’s return.

($1 = 54.2250 Indian rupees)

Dhoni’s ‘Vishnu avatar’ lands him in legal tangle

Source: Hindustan Times

An advertisement that depicts MS Dhoni as Lord Vishnu has landed the Indian skipper in legal trouble. An activist has filed a case against him in a Bengaluru court, alleging Dhoni had ‘denigrated’ the Hindu god in the advertisement in a business magazine. The case was registered under section 295 of the IPC — injuring or defiling a place of worship with intent to insult the religion — on a complaint that said that by posing as Lord Vishnu, holding several things including a shoe in his hands, Dhoni had hurt “religious sentiments.”

The court will take up the case on May 12, when the complainant’s statement will be recorded.

China and India withdraw troops from Daulat Beg Oldie, Ladakh, ending standoff

Source: Global Post

The withdrawal ended a 20-day standoff after Chinese troops breached the militarized border. Experts say Beijing’s latest probe could embolden New Delhi.

NEW DELHI, India — Following a three-week standoff, China and India have withdrawn their respective forces from a disputed area of Daulat Beg Oldie, Ladakh, along their shared border.

The agreement was reached after intense negotiations during a flag meeting between Indian and Chinese commanders on Sunday, according to media reports.

Both sides withdrew to their respective pre-incursion positions near the so-called “Line of Actual Control” (LAC).

Times of India quoted Chinese foreign ministry spokeswoman Hua Chunying as saying:

Following the standoff at the border area, China and India with the larger interests of bilateral relations in mind have taken a cooperative and constructive attitude.

The 20-day-old standoff between the Chinese and Indian armies began after 50 soldiers from China’s People’s Liberation Army (PLA) crossed about 10 miles inside the disputed territory and set up a tented post. They subsequently put up four more tents and also deployed Molosser dogs, DNA India reported.

India responded by setting up its own post less than a quarter mile away.

Sources had told NDTV that India, unhappy with the way negotiations were progressing, was considering cancelling an impending trip to China by its External Affairs Minister Salman Khurshid.

Meanwhile, the Chinese premier, Li Keqiang, is scheduled to visit New Delhi on May 20.

Chinese incursions along the LAC have increased over the past five years.

Indian foreign policy experts say that Beijing is trying to force New Delhi to concentrate on problems within its immediate neighborhood, rather than working to become a regional power.

For China, the forever-fizzling talks to resolve the border dispute are just another tool to keep a potential rival off-balance.

The most recent incident is no different, according to Shrikanth Kondapalli, a professor of Chinese studies at Jawaharlal Nehru University.

“They [the Chinese soldiers] came at their own sweet timing and left almost as abruptly,” said Kondapalli, dismissing claims that the soldiers’ exit was the result of clever Indian diplomacy. “They were driving a lesson [home] to India that India is talking too much without much actual strength.”

As part of its “Look East” policy, New Delhi has over the past few years been taking a more assertive stance in bilateral relations and engaged with countries that China considers to lie entirely within its sphere of influence.

In October 2011, for instance, Indian Prime Minister Manmohan Singh refused to back down from a confrontation over a joint oil exploration with Vietnam in the disputed South China Sea.

Meanwhile, India has been consistently strengthening ties with groups like the Association of Southeast Asian Nations (ASEAN). And the United States has pitched for the Indian navy to play an important role in the Pacific, as well as the Indian Ocean, as part of President Barack Obama’s pivot to Asia.

In that context, China’s latest probe might have unintended consequences — pushing New Delhi to a stronger position, rather than scaring it into a weaker one.

“This will have an impact on the Indian foreign minister’s visit to China next week and the premier’s visit to India slated for the later half of this month,” said Kondapalli. “Anti-China feelings are strengthening in India with this incident.”

GlobalPost senior correspondent for China, Benjamin Carlson, said China’s retreat was “deeply confusing from a strategic point of view.”

Why Chinese troops crossed the de facto border in the first place is a mystery; why they bulked up their presence after the initial Indian protest is a mystery; and why the PLA eventually decided to stand down is a further mystery.

The whole incursion may simply have been a tactic to gain bargaining power in border negotiations with India, Carlson said, adding:

… it’s difficult to see how this will play in China’s favor as India joins China’s other neighbors in viewing the regional giant’s territorial aspirations with greater suspicion.

 

Chit fund scam: Man killed, 8th suicide reported in WB

Source: Mumbai Mirror

KOLKATA: The tragic fallout of the multicrore Saradha chit fund scam in West Bengal escalated on Monday with the first case of murder being reported in the state after eight people committed suicide. The eighth suicide happened on Sunday night.

A director of Hello India, a chit fund company, was found murdered at his residence in Hooghly district.

Jayanta Sarkar, 48, was allegedly killed with a sharp weapon on Sunday night, the police said. The attack was the first reported case of murder in connection with the Saradha scam.

On Sunday, the 60-year-old father of a chit fund company agent ended his life in North 24-Parganas district. The police say he was distressed over his son’s inability to repay money to investors.

Jagadish Roy, father of Bidhan Roy who was the agent of Anex Chit Fund, was found hanging at his home at Rishi Bankim Gar colony at Sodepur on Monday, the police said.

Steel imports to remain a hot issue for India

Source: Business Standard

The speed at which China built steel capacity has left the rest of the world bewildered

Overcapacity and production more than the market can absorb at rates remunerative for suppliers have remained principal concerns for the world steel industry since the 2008-09 global financial meltdown, the members of which still keep flying. In the first quarter of this year, the world steel production at 388.696 million tonnes (mt) clocked a growth of 2.3 per cent over the corresponding period of 2012. In contrast to growing production restraints in most parts of the world, Asian steel output in the first three months of 2013 advanced on a year-on-year (y-o-y) basis by 6.4 per cent to 259.8 mt. The speed at which China built steel capacity has left the rest of the world bewildered. Once again the progress in Asia’s production so far this year is largely on account of the world’s second largest economy.

China’s production growth when steel prices remain under pressure and capacity lay off in particularly high-cost centres continues, is not endearing the steel goliath to others. The first quarter steel production in the European Union was down 5.4 per cent to 41.5 mt, while North American output slid 5.7 per cent to 29.7 mt. This led an official of consulting firm Wood Mackenzie to tell Reuters that “most of the world is in decline, but the steel industry in China isn’t disciplined in the way Europe might be”. He thinks with Chinese production remaining “persistently high,” steel prices cannot but remain under pressure leading to margin erosion for producers everywhere. The issue is why should China be courting criticism of other producing nations and still stick to growing steel production. Moreover, near-term industry outlook is not at all encouraging. An official of ArcelorMittal credits China for building a “fearsome low-cost steel industry”. At the same time, some spirited house cleaning operation notwithstanding, the Chinese industry is still left with a good amount of high cost and polluting capacity.

That China supports its steel industry and steel products exports by way of subsidies is widely known and resented. The subsidy issue comes to the fore at regular intervals as China will have scrap with countries alleging dumping of steel products by it to the detriment of local producers. What, however, should not be lost sight of is that an industry with China’s capacity is a massive provider of employment in steel mills, upstream mines, downstream value-adding enterprises and tertiary sectors. More than half the steelmakers in China are government owned. Neither Beijing nor the provincial authorities are ready to risk economic disorder and social unrest by withdrawing life-sustaining government support to steel mills. The ArcelorMittal official says, “We are mesmerised by China, but if you look at its steel industry, despite its rise, 92 per cent of steel companies are trading at a loss.” Rising cost of energy and finance is steadily robbing Chinese industry of the status of a low-cost producer. Steel mill wage bill too, is spiralling. And this is happening when world steel demand grows slowly.

In case China sustains steel production at the first quarter rate, then it will end the year with an output of 768 mt against 716.5 mt in 2012. In its short range outlook, World Steel Association says steel use in China in 2013 should rise by 3.5 per cent to 668.8 mt. This is to leave China with an exportable surplus of nearly 100 mt. A point of concern for India, which already is a net steel importer: We should also keep an eye on Japan where softening of yen has significantly improved export competitiveness of its steel. At the same time, “conditions in Europe will remain under pressure in spite of acceleration in production discipline. We, therefore, expect southern European steelmakers to increase their presence in export markets,” says an analyst with Metal Bulletin. In this context is to be seen SAIL Chairman Chandra Shekhar Verma’s observation that “Steel imports will remain a hot button issue for India as long as the world will have much surplus capacity and producers in many places will be in some desperation to export extra metal with them.”

India’s March steel production at 6.86 mt shows a y-o-y rise of 6.5 per cent. However, production rise in this year’s first quarter at 19.826 mt was 2.8 per cent more than in the corresponding period of 2012. Production rises here are due to more and more capacity coming on stream from new projects and existing mill expansion. In fact, this will remain the trend as the country targets a steel industry of the size of 180 mt to 200 mt by 2020. As we go forward, large capacities on account of SAIL, Tata Steel, Vizag Steel and others will get commissioned in close proximity. But will local demand be growing at a rate to ensure that the steel industry will not at any stage be left with much surplus capacity. To go by the observations of Tata Steel Managing Director Hemant Nerurkar and SAIL’s Verma, steel demand in an emerging economy with its focus on infrastructure development should be more than tracking the gross domestic product (GDP) growth rate. A six per cent GDP growth in 2013-14 should, therefore, translate into Indian steel use growing at double last year’s 3.3 per cent.

 

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US, UK, and Canada woo leisure travelers from India

Source: The Economic Times

Many Indian families will be visiting their kin in the US this summer; or parents will be visiting campuses where their children are studying. But the US commerce department, along with big tour operators in India, has been working towards making US an independent leisure destination for Indian tourists, rather than just visits to friends and relatives or VFR, as that segment is called.

“Following President Barack Obama’s tourism plan launched last year, we have initiated many business-to-business and people -to-people initiatives to make the US a friendlier destination for tourists from India. This includes simplification and fast-tracking of the visitor visa process and granting of multiple entry 10-year visas,” a senior official at the US embassy told ET Magazine.

Uncle Sam woos visitors

An interesting trend is that different states of the US are making efforts to woo Indian tourists independently. An example is Visit Florida, an organisation that opened an office in India recently and estimates that around 58,000 Indians travelled to Florida during 2012, which was a 16% increase over the previous year.

“India is one of the top source markets for us. We intend to showcase popular cities like Miami, Orlando, and Kennedy Space Center. We also plan to launch a Florida specialist programme for the travel trade,” says Tracy Vaughan, director, international sales and marketing of Visit Florida. Theme parks, beautiful beaches, endless entertainment, and culinary and shopping options are some of the reasons that make Florida an attractive travel proposition for Indian families.

Brand USA, the initiative to encourage international visits to the US and to grow its share of the global travel market, is set to launch a big campaign in India in to showcase, among other things, specific destinations such as Niagara Falls, Disneyland and California and Las Vegas.

Through its Visit USA Committee (Vusacom), the US government has been reaching out to tour operators, hoteliers, airlines and destination management companies in India. “The US has always been a big destination for business, education and visiting friends and relatives. But with the new initiatives, which were unveiled about 18 months ago, we have been seeing a growth in the segment of free and independent travellers too,” says Ashwini Kakkar, executive vice-chairman of Mercury Travels and chairman of Vusacom in India. These are people who are in the mid- to high-end range and can be differentiated from the kind of travellers who would go only to Bangkok or Dubai for shopping holidays. They are much bigger spenders, he adds .

According to Kakkar, the steps taken by the US government to simplify B1 and B2 visas — for tourist and business visitors — have given a boost to US-bound travel. Some 660,000 B1 and B2 visas were issued in India in fiscal year 2012. In 2013 there has been a 20% upswing over the previous year so far.

Being a sport

Like the US the UK, too, has been running campaigns in India to change the perception of the country to that of a leisure destination from one just for family visits.

“Last year, in the run up to the Olympic Games we had unveiled a huge promotional campaign. From India we are looking at sports tourism centred around football, cricket and other niche segments such as film tourism or visits to Bollywood-related locations,” says Keith Beecham, overseas network director, VisitBritain.

Specific regions of the UK, too, are working with Indian tour operators to attract bigger numbers of tourists from India. Wales, for instance, is hoping to see a large number of Indian visitors for the ICC Champions Trophy in June. “The tournament builds on Cardiff’s strong track record as a city that can host truly global sporting events and will guarantee fantastic entertainment for cricket fans,” first minister of Wales Carwyn Jones said.

“With global travel becoming an integral part of the Indian lifestyle, countries such as Canada, the US and the UK enjoy strong appeal. Theme parks are of great interest and have led to increased number of visitors to Disneyland. In the UK, major sights such as the Tower of London and Buckingham Palace are on most visitors’ itineraries,” says Vishal Suri, deputy COO tour operating, Kuoni India.

Another conventional destination, Canada, too, is seeing a shift from Indian travellers visiting friends and relatives to leisure travellers. Visitors in the VFR category are adding on vacations such as an Alaska cruise or an adventure trip to Canadian Rockies.

The state of British Columbia, which has a large population of people of Indian origin, is likely to see a growth of about 10% in the number of visitors from India in 2013. “The trend we are seeing is an increase in independent travellers. We are receiving requests for self-drive itineraries, which is great as BC is a very easy destination to enjoy by driving oneself,” says Clare Mason, manager, Destination British Columbia.

Bangladesh toll reaches 377, building owner arrested

Source: Reuters India

The owner of a factory building that collapsed in Bangladesh killing hundreds of garment workers was arrested on Sunday trying to flee to India, as hopes of finding more survivors from the country’s worst industrial accident began to fade.

Mohammed Sohel Rana was arrested by the elite Rapid Action Battalion in the border town of Benapole, Dhaka District Police Chief Habibur Rahman told Reuters, ending a four-day manhunt that began after Rana Plaza, which housed factories making low-cost garments for Western retailers, caved in on Wednesday.

Bangladesh television showed Rana, a local leader of the ruling Awami League’s youth front, being flown by helicopter to the capital Dhaka, where he will face charges of faulty construction and causing unlawful death.

Authorities put the latest death toll at 377 and expect it to climb higher with hundreds more still unaccounted for.

Four people were pulled out alive on Sunday after almost 100 hours beneath the mound of broken concrete and metal, and rescuers were working frantically to try to save several others still trapped, fire services deputy director Mizanur Rahman said.

“The chances of finding people alive are dimming, so we have to step up our rescue operation to save any valuable life we can,” said Major General Chowdhury Hassan Sohrawardi, coordinator of the operation at the site.

About 2,500 people have been rescued from the wrecked building in the commercial suburb of Savar, about 30 km (20 miles) from the capital, Dhaka.

Officials said the eight-storey complex had been built on spongy ground without the correct permits, and more than 3,000 workers – mainly young women – entered the building on Wednesday morning despite warnings that it was structurally unsafe.

A bank and shops in the same building closed after a jolt was felt and cracks were noticed on some pillars on Tuesday.

Police said one factory owner gave himself up on Sunday following the detention of two plant bosses and two engineers the day before.

Anger over the disaster has sparked days of protests and clashes, with police using tear gas, water cannon and rubber bullets to quell demonstrators who set cars ablaze.

Garment workers blockaded a highway in a nearby industrial zone of Gazipur on Sunday demanding capital punishment for the owners.

The main opposition, joining forces with an alliance of leftist parties which is part of the ruling coalition, called for a national strike on May 2 in protest over the incident.

Built on a filled-in pond

Wednesday’s collapse was the third major industrial incident in five months in Bangladesh, the second-largest exporter of garments in the world behind China. In November, a fire at the Tazreen Fashion factory in a suburb of Dhaka killed 112 people.

Such incidents have raised serious questions about worker safety and low wages, and could taint the reputation of the poor South Asian country, which relies on garments for 80 percent of its exports. The industry employs about 3.6 million people, most of them women, some of whom earn as little as $38 a month.

Emdadul Islam, chief engineer of the state-run Capital Development Authority (CDA), said on Friday that the owner of the building had not received the proper construction consent, obtaining a permit for a five-storey building from the local municipality, which did not have the authority to grant it.

Furthermore, another three storeys had been added illegally, he said. “Savar is not an industrial zone, and for that reason no factory can be housed in Rana Plaza,” Islam told Reuters.

Islam said the building had been erected on the site of a pond filled in with sand and earth, weakening the foundations.

North American and European chains, including British retailer Primark and Canada’s Loblaw, a unit of George Weston Ltd (WN.TO), said they were supplied by factories in the Rana Plaza building.

Since the disaster, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has asked factory owners to produce building designs by July in a bid to improve safety.

India’s IT exports resilient despite difficult times

Source: The Economic Times

DUBAI: India’s IT exporters have demonstrated resilience by surviving the difficult market conditions of recent times, a senior industry official has said.

Kamal Vachani, Hon. Regional Director of Electronics and Computer Software Export Promotion Council (ESC) for the Middle East, said India’s export of computer software and services during 2012-13 is estimated to have registered a growth of 10.26 per cent over 2011-12.

“In value terms, export of computer software and services during 2012-13 is estimated to be USD 75 billion, up from USD 68 billion estimated in 2011-12”, said Vachani.

With an objective to give a visible momentum to enhancing IT & ITES exports from the country, ESC has created a unique brand for Indian software and services companies in 2001 – INDIASOFT International IT Exhibition & Conferences, Vachani said in a statement.

According to him, the main focus of INDIASOFT events has been to enhance the opportunities for Indian software companies in emerging and established IT markets across the world. ESC has organised 12 editions so far.

Commonwealth meet in Sri Lanka ‘accommodates evil’, Canada says

Source: Times of India

LONDON: Canadian foreign minister John Baird has condemned the decision to allow Sri Lanka to host the Commonwealth heads of government meeting in November as “accommodating evil”.

Baird spoke out after his Commonwealth counterparts in London on Friday agreed to press ahead with the meeting despite strong criticism over Colombo’s human rights record.

“We’re appalled that Sri Lanka seems poised to host CHOGM and to be chair-in-residence of the Commonwealth for two years,” the Canadian minister told Guardian newspaper late Friday.

“Canada didn’t get involved in the Commonwealth to accommodate evil; we came to combat it. We are deeply disappointed that Sri Lanka appears poised to take on this leadership role.”

Prime Minister Stephen Harper has said Canada will boycott the November 15-17 meeting unless Sri Lanka investigates suspected war crimes including the alleged indiscriminate killing of civilians by government troops in the climax of the civil war in 2009.

Commonwealth secretary-general Kamalesh Sharma said Sri Lanka had not been on the formal agenda at Friday’s talks but said it had been discussed, and there was no opposition to November’s meeting being held in that country.

It was a “collective decision”, he told a press conference afterwards, adding: “No member of government has indicated remotely that it wishes to change the venue.”

Sharma said the Commonwealth was working with President Mahinda Rajapakse’s regime to address international concerns.

And he said he believed Colombo subscribed to the principles of human rights, democracy and rule of law laid out in the Commonwealth charter signed by Queen Elizabeth II last month.

“All member states subscribe to the same principles and values equally,” he said.

“Interacting with them on many fronts — as I have been doing at all levels — I am fully persuaded that they are sincere in subscribing and following those values.”

Ladakh incursion: China expresses readiness to work with India deal with differences

Source: Times of India

BEIJING: China on Sunday took note of Prime Minister Manmohan Singh’s remarks over PLA’s incursion into the Depsang Valley and said that it is willing to work with New Delhi to deal with differences while maintaining peace at borders and forging strategic cooperative partnership.

“We have noted Prime Minister Manmohan Singh’s statement,” a statement by the Chinese foreign ministry said.

“The two sides have been in communication through the working mechanism for consultation and coordination on boundary affairs, border meetings and diplomatic channels for a solution to the incident in part of the western section of the China-India border,” the statement said.

According to the statement, the reaction was in response to a question over Singh’s remarks that Chinese troops incursion into the Depsang Valley in Ladakh can be settled through talks.

Singh told media in New Delhi on Saturday that India does not want to “accentuate” the situation in the wake of the recent Chinese incursion in Ladakh and is working on a plan to resolve it.

“We do have a plan. We do not want to accentuate the situation. We do believe that it is possible to resolve this problem. It is a localized problem. I think the talks are going on,” Singh said.

China had denied that its People’s Liberation Army (PLA) soldiers had pitched tents in Daulat Beg Oldi (DBO) sector in Ladakh amounted to trespass and violation of the line of actual control (LAC).

The Chinese statement said “we stand ready to work together with India to properly deal with differences and maintain peace and tranquillity in the border areas in a bid to boost the healthy and stable development of China-India strategic and cooperative partnership.”

It said “while actively developing friendly cooperation in recent years, China and India have committed themselves to settling disputes including the boundary question through peaceful negotiation and preventing the disputes from affecting the development of bilateral relations”.

The two sides are currently trying to resolve the issue through border consultation mechanism inked last year even as external affairs minister Salman Khurshid is due visit Beijing on May 9, which officials said would be followed by new Chinese Premier Li Keqiang visit to New Delhi.

Kerala, Tamil Nadu agree to share water

Source: Times of India

THIRUVANATHAPURAM: Ministerial-level talks between Kerala and Tamil Nadu on sharing water under the Parambikulam-Aliyar river pact ended here on Sunday on a positive note with TN agreeing to release 100 cusecs per day to Kerala.

In response to Tamil Nadu’s gesture, Kerala agreed to release 40 cusecs per day to Tamil Nadu from Shiruvani river to Coimbatore.

Briefing reporters after the meeting which was attended by Tamil Nadu PWD minister T Ramalingam, Kerala water resources minister PJ Joseph said the joint water regulatory board, consisting of officials from both states, would meet soon to discuss water sharing from Sholayar river.

The meeting was held against the background of Kerala government’s decision to move Supreme Court to get due share of water from the neighbouring state under the Parambikulam-Aliyar river agreement.

Kerala had accused Tamil Nadu of not honouring the pact by not releasing the due share to Chittor river in Palakkad which was facing acute drought situaion.

Kerala had also brought to Tamil Nadu’s notice the drought situation prevailing in Palakkad and non-availability of water under PAP had adversely affected agriculture sector.

As per the Parambikulam-Aliyar project (PAP), Kerala is entitled to get 7,250 million unit cubic feet in a water year (between July 1 to June 30).

A joint water regulatory board of officials from Tamil Nadu and Kerala release the water under a “fortnightly pattern”.

Dikshit accepts protest letters over inflated bills

Source: Hindustan Times

Chief Minister Sheila Dikshit on Sunday accepted the 10,50,000 letters written to her by the Delhi residents over inflated water and power bills following the protest of Aam Aadmi Party (AAP) at Jantar Mantar  in the national Capital.

AAP leader Arvind Kejriwal said Dikshit’s agreeing to accept the letters is “people’s victory.”

Kejriwal vowed that the movement against the inflated bills would continue until the tariffs are brought down, and alleged that both the Congress and the BJP have together cartelised the water and electricity sector in the state.

“At 9 am one of my associates, Dilip Pandey, got a call from the chief minister’s Office saying Sheila Dikshit wanted to talk. Dikshit said she will receive the protest letters. She was compelled to do so because of the people’s pressure. She had to bow down to the people,” said Kejriwal, while addressing a gathering.

Since the chief minister agreed to accept 10,50,000 letters of protest to her written by the people of Delhi highlighting the inflated bills, the AAP activists called off their scheduled march to her residence, AAP spokesperson Aswathi Muralidharan said.

In the afternoon, AAP activists Manish Sisodia and Kumar Vishwas along with 10 other party members boarded a bus, carrying the  protest letters from Jantar Mantar and handed these over to Dikshit’s staff around 3 pm at her residence at Motilal Nehru Marg in New Delhi’s VIP area.

Kejriwal said the movement against inflated water and power bills would continue till the bills are either waived off or the charges are reduced.

“Our aim is not just to submit these (over) 10 lakh letters, but we are seeking action on them. Our protest is unlike that of the Bharatiya Janata Party’s Vijay Goel who simply protests for limelight. We have said we won’t pay our bills and this movement will continue till these bills are reduced,” he asserted.

Kejriwal said the Congress governments both at the Centre and in the state had failed to address the issue of water crisis in the national Capital.

“Every year, the Prime Minister says that we will provide water to every household in this country. They have not been able to provide water to Delhi in the past 65 years. How will they provide water to the entire country,” he asked.

“Sheila Dikshit has been in power for the past 15 years. Why has not the issue been addressed,” he asked. Most of the water tanker companies are owned by leaders of these two parties, and the government was hand in glove with the power discoms, he alleged.

Earlier, Delhi Traffic Police eased the traffic restrictions they had imposed in Janpath-Sansad Marg area due to protests and demonstrations.

Kejriwal fasted for 15 days earlier this month to press his demand for reduction in water and electricity tariffs in the capital.

Samsung to start manufacturing Galaxy S4 in India soon

Source: The Hindu Business Line

New Delhi, April 28: Samsung India today said it will soon start manufacturing its flagship high-end smartphone Galaxy S4 in India.

“We are planning to start manufacturing of S4 soon at our Noida facility,” Samsung Mobile and Digital Imaging Country Head Vineet Taneja told PTI.

He, however, refused to share any timeframe by when the production will start. The Noida facility is manufacturing about 35-40 million phones annually, including 12 smartphones such as Galaxy S3.

The company currently imports the recently launched Galaxy S4 from South Korea.

Sensing huge demand for Galaxy S4, the company is also looking to double the high-end smartphone (above Rs 20,000) market size in India, which is currently contributing around 10-12 per cent of the overall smartphone market.

The Galaxy S4, which is packed with newer imaging features as well as ‘gesture-control’ technology, has a five-inch full HD super AMOLED touchscreen, 13 mega pixel rear and 2 mega pixel front camera and supports 3G networks.

Although Samsung is the market leader in smartphone market in India, competition from Apple, BlackBerry and Nokia has put pressure on it to add new software features to maintain its lead.

According to research firm IDC, the overall mobile phone market in India reached about 218 million units in 2012, growing 16 per cent year-on-year.

Of this, 16.3 million units were smartphones, but the category saw a growth of about 48 per cent. Samsung was the leader in the quadcore and 5-inch plus screen size models, IDC added.

The demand for smartphones is expected to be around 34-36 million units this year.

Globally, Samsung had 30.3 per cent share of the smartphone market (with sales of 215.8 million units) in 2012, while Apple had a 19.1 per cent share with sales of 135.9 million units, according to IDC.

India’s super-rich club shrinking

Source: Times of India

LONDON: The good news is India is home to 109 billionaires with an average net worth of $1.7 billion each. The bad news, however, is that compared to last year, India has seen the largest fall in super-rich population in the world.

Compared to last year, India has 485 fewer super-wealthy individuals, followed by China which lost 265 and Japan which lost 210.

The country’s super-rich club — those worth at least $30 million — has 7,730 members with a combined worth of $925 billion. Among them, the largest chunk is of the ultra high-net worth individuals (UHNWIs) who are worth $30 million to $49 million.

They make up 45.7% of the total UHNW population in India with a combined fortune of $125 billion or 13.5% of the total wealth of the India’s ultra affluent.

This is significantly higher than most of its immediate neighbours — Pakistan (310 super-rich), Bangladesh (85) and Sri Lanka (60), or most other Asian countries like Singapore (1,305), Indonesia (785), Thailand (625) and Malaysia (780). Only Japan (12,830) and China (11,245) have more super-rich people than India.

Wealth-X’s “World Ultra Wealth Report” shows the world’s UHNW population grew by 0.6%. The growth rate of the global billionaire population, however, outstripped that growth rate by expanding at 9.4%.

There are 2,160 billionaires globally with a total wealth of $6,190 billion. This group of billionaires, representing the top 1.2% of the world’s UHNW population, controls 24% of the total fortune attributable to the ultra- wealthy. On average, these billionaires are worth $2.9 billion each.

Bollywood celebrates 100th birthday

Source: Times of India

One hundred years after the screening of a black-and-white silent film, India’s brash, song-and-dance-laden Bollywood film industry celebrates its centenary later this week.

The milestone will be marked with the release of Bombay Talkies, made up of short commemorative films by four leading directors, while India will be honoured as “guest country” at next month’s Cannes festival.

Exhibitions in the capital New Delhi are showcasing a century of cinema, including onscreen kissing scenes that originally fell foul of the censors.

It is also a time for reflection on how the industry has evolved, from its early screen adaptations of Hindu mythology to the garish romantic escapism of modern blockbusters.

Commercially, cinema is thriving: India produced almost 1,500 movies last year and the industry is expected to grow from $2 billion to $3.6 billion in the next five years, according to consultancy KPMG.

Leading the way is Hindi-language Bollywood, which took the “B” from its home in Bombay and won the hearts of movie-mad Indians.

But old-timers complain that it has become superficial, neglecting to deal with pressing social concerns of the age.

“There’s a dumbing down that has taken place in the content. I think we are suffering from what is called the narrative crisis,” said veteran director and producer Mahesh Bhatt.

He contrasts modern filmmakers with Dhundiraj Govind Phalke, known as the “father of Indian cinema”, who brought the first all-Indian feature film to the silver screen in Bombay (now Mumbai) on May 3, 1913.

A tale from the Hindu epic Mahabharata, Raja Harishchandra, quickly became a hit despite its female characters being played by men — women acting was still widely frowned upon.

Phalke made more than 100 films until his silent style fell victim to “talkies” in the 1930s, but the advent of sound technology allowed India cinema to flourish.

Bollywood plot-lines today can involve stars breaking into song, often in picturesque far-flung locations, apropos of nothing — a style that may bemuse a Western audience, but one that helps to set Indian cinema apart.

“If it was exactly the same thing as Hollywood, Hollywood would have run us over. We don’t have that money,” said film critic Anupama Chopra.

For her and many others the “golden age” of cinema was the 1950s, when movie greats emerged such as Satyajit Ray, India’s most renowned filmmaker, who hailed from the alternative film hub of West Bengal.

It was the era of newly independent India, searching for an identity and producing films such as Mehboob Khan’s 1957 hit Mother India, which combined social concerns with popular appeal.

The 1970s and 80s saw a growing commercialism with the rise of the “masala” movie — a family entertainer that typically mixed up romance and action, songs and melodrama, a comedy touch and a happy ending.

Parallel Cinema continued to focus on realism, with films such as Mahesh Bhatt’s Arth (Meaning) in 1982, a gritty tale of an extramarital affair that presented strong female characters.

It was a path-breaker in a decade described as the “dark ages” of Hindi cinema, which struggled with the advent of colour television, rampant piracy and dependence on the Mumbai underworld for funding.

Things improved after India’s economy opened up in the early 1990s, and again a decade later when filmmaking won formal “industry” status. Both steps encouraged foreign firms, such as Fox and Disney, to invest in Bollywood.

But subsequent leaps in technology have not been matched by advances in storytelling, say critics, who lament the formulaic plots, passive roles for women and the copying of Hollywood.

Bollywood’s escapist fantasies have long held mass appeal because “there’s enough realism in the common man’s life”, said Bhatt.

But with ever more TV shows, the Internet and easily available global films, such movies may no longer meet the demands of the educated middle-class.

This expanding group “wants to see something better than trash which caters to the common man who drives auto-rickshaws. They want to see a different kind of cinema,” said veteran actor Rishi Kapoor.

A new crop of experimental filmmakers has started to appear, such as “Hindi indie” darling Anurag Kashyap who is a fixture on the global film festival circuit.

Trade analysts say the growth in multiplex cinemas has also encouraged mainstream films to diversify: a surprise hit last year was Vicky Donor, a romcom about sperm donation.

Raj Nidimoru is co-director of upcoming Go Goa Gone, one of India’s first zombie films, and he believes the move away from staple Bollywood is only just beginning.

“This is just a ripple right now, it’s going to become a wave.”

Canadian Food Festival at Taj Mahal Palace

By Sparsh Sharma for the Government of Canada

A “Sugar Shack” Experience

The Consulate General of Canada in Mumbai, in partnership with the Taj Mahal Palace, presents the Canadian Food Festival from March 22nd to March 30th, 2013.

Mumbaikars will have the chance to feast on Canadian delicacies with a sweet twist at the Shamiana restaurant.  The menu is inspired by the Canadian sugar shacks where maple sap is collected in March and boiled into syrup, toffee and more.

Overseeing the creation of these delights is Chef Louis Charest, Executive Chef to the Governor General of Canada, who has come directly from Canada to prepare sumptuous meals using authentic Canadian ingredients.

On arriving in Mumbai, Chef Charest said “I am excited to share the Canadian sugar shack experience with Mumbaikars. These flavours will serve as an inspiration to display great Canadian cuisine and amazing Canadian products with a fun mix of Indian spices.”

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Chef Charest brings the Canadian Sugar Shack dining experience to life through old-time specialties like maple taffy on snow, split pea soup, poutine, maple baked ham, tourtière, and mouth-watering maple desserts.

Following on the success of last year’s Atlantic Canadian Seafood Festival, there will also be a delicious spread of the freshest Canadian seafood, including lobster, scallops, crab, halibut and more. By pairing these delicacies with organic Canadian wines from British Columbia, including dessert wine, and modern Canadian cocktails, the festival is a food lover’s dream come true!

To further capture the true feeling of a Canadian sugar shack, Shamiana is hosting a traditional musical performance at the Sunday Sugar Shack Brunch on March 24th. Mario LeBreton and Philippe LeBlanc will entertain with toe-tapping classics and original music that will transport listeners to a traditional Eastern Canadian party.

Agriculture and Agri-Food Canada and the Atlantic Canada Opportunities Agency have worked with Canadian suppliers to ensure that only the finest Canadian products are being delivered straight from Canada to your plate during the entire festival.  The Canadian Food Festival will be the opportunity to see new Canadian products not yet available in the Indian market.

Canada’s Consul General in Mumbai, Mr. Richard Bale said “Canada has high-quality agricultural products to share with India and this event will give a unique opportunity for Mumbai to taste Canada’s diverse and top-quality products.  Canada is already providing pulses, canola oil, fish and seafood, specialty and fine foods, sauces and seasonings, wines, spirits, ice wine, bakery, confectionery, and snacks to the Indian market, and we look forward to new products being available in the marketplace in the near future.”

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Background

In his role as Executive Chef to Canada’s head of state, Chef Charest has catered for high-ranking officials, prime ministers, dignitaries, royalty and world leaders including their Royal Highnesses, Her Majesty Queen Elizabeth II and Prince Phillip the Duke of Edinburg, and now Chef Charest is cooking for Mumbai!

Chef Charest’s pride in showcasing his talent has been rewarded with 14 gold medals, 3 trophies, 4 grand gold medals, 1 World Cup, 4 silver medals and 3 bronze medals. This has included winning gold at the famed New York Culinary Salon, representing Canada in the World Banqueting Competition at the World Championships, winning an individual silver medal at the World Culinary Olympics in Berlin, Germany, in 1996, and earning five gold medals at the Culinary Grand Prix in Glasgow, Scotland, in 2001.