Friday, April 30, 2010

A report from Orissa

The misery of Kannama Bhumiya is no less than that of the Bardhans. She lives in a half-built concrete house covered with tin sheets in Gaudaguda, a small tribal hamlet four km from Malkangiri. The house was being built by Kannama’s husband, Sudarshan Bhumia. The latter was one of the police casualties in the landmine blast at MV126 village. Kanamma is facing the same problem as Mase and Manini. Though she has already got the compensation and insurance, she is still struggling to secure a plot of land and a job.

However, the story of Prabhati Mishra, wife of late Reserve Inspector Sarat Chandra Mishra, is quite different. More than for her own survival, she is struggling to keep her husband’s dream alive. Inspector Mishra had started a free school for tribal students. Prabhati is doing all she can to keep the school going. But government procedures have become a big hurdle. Forget the promises about land or job, she is yet to receive any gratuity or family pension, that too after meeting and requesting the chief minister more than once.

Why are the widows and orphans of slain policemen treated with such insensitivity? Manmohan Praharaj, director-general of Orissa Police, says: “We are providing compensation immediately to the families of the policemen who have lost their lives in Naxal attacks. About land and job, it’s part of a process. But yes we are looking into the matter and trying to find out any lacuna if at all it’s there. However, a few legal issues are also involved in this process. The processes are taken care of quite quickly in those districts which were announced as Naxal-infected, but in the other districts, the work becomes a bit time-consuming. But this is by no means deliberate.”

Try telling that to people like Mase or Manini or Jayakrishna. They will, given half a chance, tell the people who call the shots exactly what is going wrong. But is anybody willing to listen? Insensitivity is the norm and brave young men are used simply as cannon fodder in a war that probably has no victors.

The battles the families of fallen heroes have to wage to get their dues are just as hard as the ones the jawans deployed to protect the country’s internal security are engaged in day in and day out. Given the callous manner in which the government operates, can the widows of the martyrs ever hope for a better deal?

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Source :
IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Wednesday, April 28, 2010

Is homeschooling a viable recourse from the culture of rote pervading our education system?

Can such children – vulnerable as they sound – ever prove to be a threat? The fear of creation of a parallel society is the reason that governments of various nations quote for banishing homeschooling by law. One such country is Germany where the illegal status of homeschooling recently led Uwe and Hannelore Romeike to leave their home country – with their five children – and seek political asylum in USA through Home School Legal Defense Association (HSLDA: A US-based non profit organisation dedicated to this cause for over 25 years). Mike Donnelley, Staff Attorney, HSLDA, reveals, “Homeschoolers in Germany are fined many thousands of dollars, criminally prosecuted or have their children possibly taken from them. The govt. claims that they have ‘an interest in stamping out parallel societies.’ They say that the state has an equal responsibility in raising children and that schools are necessary in order to bring children up with the "democratic values" of the new German state.”
In India, there are no specific diktats on homeschooling, apart from the “free and compulsory education for all” provision in the constitution, now bolstered by the recently passed RTE Act. “Every state has its own rules with regard to schooling, but homeschooled children can pretty much join regular schools any time they wish. If they want to continue with homeschooling, then they can complete their high school (10th grade) from the National Open School. The certificates from this organisation can be used all over the country to join colleges for courses thereafter,” explains Chetana.

The pedants call homeschooling a utopian dream – where socialisation, conflict management, ability to deal with competition and other life skills can never be achieved. Mike dismisses notions of socialisation that have to do with staying “cooped up in a classroom with 20-30 children of their own age for 6-8 hours a day”. Sandhya agrees, “The fact that a child is being homschooled doesn't mean that he is at home 24x7 and doesn’t meet other children. In fact, we find more time for him to meet people from different walks of life now than we did when he was at school and the only people he came in touch with regularly were his classmates, teachers, friends and us. One thing he might miss out on is the 'sense of competition' in the classroom. And my viewpoint is that I'd rather have him work well as a team rather than try to compete with someone.”

Looking back at one’s childhood days, the possibility of spending some years studying at home and some in school creates an overwhelming urge to be home – and young – again. But as a parent, the dream may turn into a terrible dilemma. The end of shaping well-rounded and sensitive citizens is certainly a matter of formidable responsibility, after all…
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Source :
IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Monday, April 26, 2010

Crime and Punishment

Death-row prisoner seeks court’s permission to sire child

A married couple, who got a death sentence and life term, has filed a petition in the Punjab and Haryana High Court seeking conjugal rights within the prison so that they could give their family an heir.

The couple has been incarcerated in the Patiala Central Jail since 2005 separately. It was only after eight months of their marriage that they were arrested on charges of kidnapping and then killing a 16-year-old schoolboy. Jasvir Singh and Sonia of Hoshiarpur got married in their early 20s. They were a happy couple, but Jasvir was a greedy man who wanted to earn quick money. He decided that the best way to make a fortune was to kidnap a rich boy.

He zeroed in on a wealthy trader Ravi Verma’s only son Abhi Verma. Jasvir was helped by his friend Vikram to commit this heinous crime. They kidnapped the young Abhi and then demanded Rs 50 lakh as ransom money. When the amount did not come, Abhi was given a heavy dose of sedative. He never recovered from it and died. It was after this that Sonia stepped in. She helped her husband in disposing of the boy’s body. They thought that they would not be spotted. But they were busted.

After deliberating on the case, the court gave them death penalty. However, the Supreme Court while upholding the death sentence of Jasvir and Vikram converted the death sentence of Sonia into life imprisonment on the premise that she acted under the pressure of her husband.
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IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Friday, April 23, 2010

What the law says

Monetary compensation for emotional and physical trouble will eventually lead to opening of a floodgate of false charges

Passed by the Indian Parliament in 1983, Indian Penal Code 498A, is a criminal law (not a civil law) which is defined as follows: “Whoever, being the husband or the relative of the husband of a woman, subjects such woman to cruelty shall be punished with imprisonment for a term which may extend to three years and shall also be liable to fine. The offence is cognisable, non-compoundable and non-bailable.”

If a woman lodges a complaint of dowry harassment in the nearby police station, the husband, his old parents, his sisters and other relatives would be immediately arrested and put behind bars on a non-bailable term without any investigation. Even if you are not guilty, you will be presumed as guilty until you are proved innocent. This section of Indian Penal Code is non-compoundable (complaint can not be withdrawn) and non-bailable.

Mahesh Tiwary, advocate in Supreme Court, explains the legalities involved, “Under section 497of IPC, cases of adultery cannot be filed against a wife and thus she cannot be prosecuted.” As it stands, this Section makes only men punishable for having sexual relations with wives of other men without the consent of their husbands. Women cannot be punished even as abettors.

What is more shocking is even if after a prolonged legal battle, the husband’s family comes clean, the court does not punish women for filing false cases. Under Section 12 of IPC of Protection of Women from Domestic Violence Act,2005, husband or in-laws can be asked to evict the house if wife feels threatened. Mahesh Tiwary says, “This means that practical ownership of every house rests with wives. Once she decides that her husband should not stay with her, he will have to leave at any cost.”

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IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Monday, April 19, 2010

Succour on the Texas trail!

Vishal Retail has been under the storm for quite some time now. First the debt problem, then the inventory issues and finally expansion plans... Is it even possible for the company to stand on its own? Or is the TPG investment proposal its clarion call?

After struggling for almost two years, Vishal Retail has finally found itself a saviour. The beleaguered retailer would now be acquired by Texas Pacific Group (TPG), a private equity firm that plans to infuse Rs.2.50 billion in it. Further, the business would be divided into two formats namely the cash & carry and retail business. “TPG has given a proposal under the CDR mechanism. However, the outcome will be weighed with pros/cons and the decision post the outcome will be taken considering interest of all stakeholders,” R. C. Agarwal, CMD, Vishal Retail, tells B&E. The retailer has revived, in part, but is it even remotely possible for Vishal Retail to continue on its own? To understand that, let’s go back to how the train of cataclysmic events unfolded:

March, 2008: The Retailers Association of India forecasts an annual growth of 30% for the sector. One of India’s leading retailers, Vishal Retail grows at 100% (y-o-y) with a turnover of Rs.10 billion. But soon the global slowdown hits India and the growth forecast for the sector is slashed to 12-15%. Vishal is debt trapped – an obligation of about Rs.7.5 billion. In fact, by December 2008, Vishal’s expenditure on interest increases by a whopping 137.26% and profit plunges by a horrifying 86%. Speculations are rife that Vishal is the next Subhiksha. June, 2009: Vishal consolidates its back-end and front-end operations. The hard work pays off and finally in Q2 of 2009, business improves. Topline shows signs of recovery with net sales of Rs.2,653.70 million for Q1 2009, an increase of 13.96% from the previous quarter. But the debt challenge still persists.

March, 2010: Vishal’s stock touches an intraday high of Rs.65.25, up by 5%, on speculations of Texas Pacific Group acquiring Vishal Retail (by the time this magazine goes for print).

Phew! … Three years, one retail giant, a slowdown and the ultimate struggle for survival. Though this retailer started its journey three years before Kishore Biyani could set up his first store in 1997, it could not sustain the first mover’s advantage. Raison d’ĂȘtre: Vishal Retail made the one mistake of using short-term debt for long-term growth. But this ‘one mistake’ proved too costly.

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Source :
IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Friday, April 16, 2010

Assembly polls in West Bengal will reveal that such an arrangement might be good for the state

“But, will Pranab Babu, No. 2 in Raisina Hills agree to surrender that enormous power to become a mere chief minister,” questions eminent political analyst Siddhartha Sen. According to him, “Technically, there is nothing wrong in sharing political power of the state. There has been instances of such sharing in other states. But for that a smooth understanding between Sonia Gandhi and Mamata Banerjee is most important. But, the problem is in Pradesh Congress itself. Pranab Mukherjee does not have much of a mass appeal. He will have to be dependent on his party leaders which may make Mamata Banerjee jittery.”

Eminent journalists like Dilip Ghosh Chowdhury and Amit Sarbadhikari term such an arrangement as ‘hypothetical’. According to Ghosh Chowdhury, “I don’t think this is possible. People of Bengal do not trust Mukherjee so much, not even leaders of his own party. Apart from that, Trinamool is gradually being dragged into conflicts with the Congress. Inner conflicts in Trinamool-ruled panchayats are also coming up. The two parties have virtually no floor coordination in the state Assembly. I will not be surprised if the alliance is over before Assembly polls.”

Journalist-turned columnist Amit Sarbadhikari said, “Such kind of understanding between the Congress and the Trinamool is very much possible. But in that case, both the parties have to carry the same weight. If they secure nearly the same number of seats, then Pranab Mukherjee can be a contender for the post of chief minister. But honestly, will the people of West Bengal accept such a formula? People, who want to bring ‘parivartan’ and who hit the streets, want to see her in control of Writers’ Building.” Secondly, if Pranab Mukherjee becomes the chief minister, he would have to bank upon mostly on Congress leaders like Deepa Dasmunshi, Abdul Mannan et al who have not really proven their worth.

Noted theatre personality Bibhas Chakraborty has been in the forefront of the anti-CPI(M) movements in recent years, since the Singur and Nandigram days. He told B&E, “As a citizen, I do cast my vote for one party or the other. But, a citizen’s responsibility in India ends there. The winning party or alliance will elect its leader who will go on to become the chief minister. So, where is people’s or citizen’s role in the process? A citizen or a voter has no chance to elect ministers. That’s why I feel no urge to comment on this matter. But recently, Mamata Banerjee herself has said that Pranab Mukherjee might be the next chief minister. If she and her allies win the race, they can elect Pranab Mukherjee as their leader.”

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IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Tuesday, April 13, 2010

A Samoan Sojourn

Milton Berle once said, “Laughter is an instant vacation…”, but for those who like to smile in the sweet surrender of pristine beaches, especially if surrounded by palm-fringed tropical gardens and facing the South Pacific Ocean, there is the hidden paradise called Samoa. A Samoan holiday can be as relaxing as you want it to be with each wonder unfolding at the pace you desire. From the sun-kissed beaches of Upolu to the wild experience of the Pacific life in Savai’I, Samoa has it all, and in good measure too.

The OLe Pupu-Pu'e National Park is one of the major attractions at Samoa offering the adventurous wild angle to one’s vacation along with picturesque views and exquisiteness in its own way. The OLe Pupu-Pu'e is probably the only national reserve which stretches from the highest peak of Samoa, Mt Fito, and lunges up to the volcanic tip of Mt Le Pu’e. Towards the south of the park is the rugged O Le Pupu Lava Coast and its entrance is near the Togitogiga recreation reserve, which lies just outside the park to the east.

One could head for an unparalleled hiking experience right opposite the O Le Pupu Lava Coast and also meander through the thick rainforest to the Pe'ape'a Cave. The Cave is actually a lava tube and is worth exploring for all, especially those with an inclination towards archeology. This adventure trail may seem lucrative but is equally dangerous due to mossy and rather slippery rocks.

Another archeological favourite is the island of Savai’I, probably one of the largest islands in Ploynesia remarkably nestled away from the hustle-bustle. It is known for Afu Aau falls, Pulemelei Mound and the Lava Field. Plunging into the refreshing waters under the Afu Aau falls or watching coconuts scrape the sky at Alofaaga Blowholes, in Savai’I there's no end to the fun unless you want it so.

Samoa also has promising literary roots and Upolu caters to those yearning to breathe in the literary surrounds of the charming Robert Louis Stevenson Museum. Upolu’s Palolo Deep Marine Reserve is another tourists’ favourite, where your eyes might take a while to adjust to the techno-coloured coral depths of the azure waters, but the resultant experience is rather soothing and mesmerizing... almost magical.

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Source :
IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Monday, April 12, 2010

In all the talk about globalisation

This robust growth is also attributed to unique selling strategies of the developers to achieve profitability and maintain steady cash flows. Says Kamal Taneja, MD, TDI Group, “We are catering primarily to the mid-market segment and have therefore priced our product to suit the needs of the customers.” In various regions like Kochi, as prices of the urban land sky-rocketed; developers moved to villages where land value is less and applied a new village-oriented business strategy. For other established players like M-Tech Developers, the strategy has been a healthy mix of a strict monitoring of the Price-Value matrix of offerings and periodic progress information. According to Manoj Swain, DGM of a local real estate company Trisat in Bhubhaneshwar, small real estate companies are basically dependent upon the local broker who sell properties on their behalf whereas medium sized companies appointed some youth as marketing executives on a salary and incentive basis. Favouring the fortunes of regional players is also the changing profile of the customer base. Says Mittal, “After witnessing a spurt of speculative buying with an aim to take advantage of the arbitrage the sector offered, property is now being bought to serve the personal investment criteria of customers.” Customers want to be early occupants and are looking for apartments that are affordable (Rs.20-30 lakh), aspirational, in good locations and well-connected with infrastructural back-ups.

“I believe,” asserts Taneja of TDI Group, “that real estate is fundamentally a regional industry.” As per a report by Jones Lang La Salle Meghraj, 307 million Indians live in 3,700 towns and cities across the country and account for 30.5% of the population. Being regional helps the developer understand customers better. Just like media, the realty sector is seeing a boost in fortunes of regional players. In the coming pages, we bring you field reports from six strongly emerging regional centres. Undeniably, glimpses of the future of India’s realty abound in these reports.

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Source :
IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Friday, April 09, 2010

Central India's largest state is home to 300 tigers

Pachmarhi
Situated amidst falls, caves, valleys and lofty peaks of the Satpura mountains, Pachmarhi was founded by Captain James Forsyth of the British Army in 1857. The place boasts of several sightseeing spots. Priyadarshani is the place where Captain Forsyth was mesmerised by the breathtaking view of the valley. At Handi Khoh, one can get a scary view of the valley beneath from a single rock formation that is 300 feet high. One can sit here and enjoy the sight of the meandering stream. Similarly, Apsara Vihar is a small natural geyser where one can take a dip and feel the muscles relax almost immediately. Rajat Falls is a 350-feet high fall and Dhupgarh is the highest point of the Satpura range.

There are the Pandav Caves where, it is believed, that Pandavas, during their years of exile, had taken shelter for sometime. Jatashanker has the distinction of hiding Lord Shiva when his own creation, Bhasmasur, decided to try his luck on his mentor. Mahadev and Chota Mahadev caves have their own charm and attract a fair amount of travellers. But the ultimate test for the pious is Churagarh which is pretty difficult to reach given its nearly impossible-to-commute road. Devotees come here to offer tridents to Lord Shiva. And the Catholic Church here—built in 1892—is the best example of French and Irish architecture.

Hari Ranjan Rao, managing director of MP Tourism Development Corporation, says, “It is probably the only hill station in central India where one can experience every aspect, right from devotion to nature and from archeological interests to flora and fauna.”

The nearest hill station is Piparia on the Howrah-Mumbai main line. One can take a taxi or bus from there. The closest airport is Bhopal where one can hire a cab or take a bus to Pachmarhi. The place boasts of several hotels and guest houses by MPTC.
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IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Outlook Magazine money editor quits
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Thursday, April 08, 2010

Nestled in the lap of the himalayas

Pithoragarh
It is often referred to as Miniature Kashmir. The town is also known as Sore Valley and was an important landmark of the Chand Rajas of Kumaon. It is situated at an altitude of 1,650 meters above sea level. Three languages are spoken here, namely Hindi, Kumaoni and English. There are frequent buses to Pithoragarh from Almora, Nanital and Delhi. The closest railhead is at Tanakpur and the closest airport is at Pantnagar, which is 249 km from Pithoragarh.

Ranikhet
At the onset of winter, the softly falling snow flakes cover these environs in sheets of pure whiteness. Today it is an important Army town and the head quarters of the Kumaon Regiment. One can enjoy a walk, hold a picnic or go for an exciting trek. Ranikhet has one of the best mountain golf courses (9 holes) in the country surrounded by a dense oak forest. The Jhoola Devi Temple, Chaubatia are places worth-seeing. Kathgodam is the nearest railway station and Pantnagar is the nearest airport, 119 km away.

Kausani
The Kumaon Hills region offers the magic of the deep pine forests and the majestic mountains. Kausani is the birthplace of the famed Hindi poet Sumitra Nandan Pant. The beauty of Kausani is still largely untapped and it is often referred to as the 'Switzerland of India'. In fact, very few hill stations can compete with the scenic beauty of Kausani. Lakshmi Ashram, Pinakeshwar, Baijnath, Someshwar, Sundardoonga and Kafni Glaciers are a few places to visit here. Kausani is well connected to other hill stations of the state.

The Valley of Flowers is one of the natural wonders of the world which has recently been declared as a world heritage site. The carpet of flowers, 10 km in length and 12 km in width, is spellbinding. During the rains, the entire Valley is transformed into a natural garden with an innumerable variety of alpine flowers.

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Source :
IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Outlook Magazine money editor quits
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Wednesday, April 07, 2010

Sparkling gems and Buddhist temples

The Temple of Tooth or Dalda Maligawa, attracts a large number of tourists because of a relic that it preserves—one of the tooth of Buddha himself. While Embekke Temples are famous for the elaborate wooden carvings devoted to God Katargama, Peradeniya Gardens offer a glimpse in the era of the reign of King Vikrama Bahu.

With all it has to offer, it is quite surprising that Indians don’t flock here regularly. With the end of the civil war, the atmosphere has changed, and hopefully so will the tourist outlook. The hotels here are quite cheap (a five-star room will set you back by merely $60 per night) and so is the food. The local cuisine ranks high on most gourmet lists. The taste of the food lingers for long even though Sri Lankan dishes are the spiciest in the world. Transportation is costly if you hire a taxi but trains and buses are affordable. Daily flights from Delhi, Chennai and Mumbai aren't too expensive either.

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Source :
IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Outlook Magazine money editor quits
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Tuesday, April 06, 2010

After having failed to acquire Africa’s MTN, Sunil Mittal has now set his eyes on Zain to enter Africa

But analysts believe that Bharti would have a challenging task ahead. Though Bharti has an experience of working in a challenging market and has successfully developed its ‘minute factory model’, it would still be required to increase Zain’s margin by at least 25% to make it a profitable proposition.

According to the latest report by Karvy stock broking, “Bharti Airtel’s India operations are characterised by strong free cash flow generation. Thus, on account of this, the telco believes it would be better off used to invest in expansion opportunities rather than kept on its books. Thus, it believes it makes more sense to look at brownfield ventures, that is choose ‘buy’ over ‘build’”. Though the company is strongly looking at that direction, it should be a little cautious about its picking and probably slow down a bit. “It might make more sense for Bharti Airtel to look at more options in South East Asia to consolidate its position in this area and also keep up its free flow cash reserve for the upcoming 3G auctions rather than dialing into South Africa,” says Prasoon Majumdar, Head, Global Strategy and Investment Consulting.

Prasoon has a point considering that Warid’s balance sheet currently stands with large doses of debt. Given that Airtel has plans to invest a whopping $1 billion in the Bangladesh market alone, the free cash argument gets further strength. (In November 2009, the Bangladesh market had a teledensity of 32% and mobile phone subscribers totalling 50.55 million, according to Bangladesh Telecommunication Regulatory Commission. The projections are that the total subscriber base would reach the mark of 100 million by 2015, but the market leader is GrameenPhone that currently has about 45% of the market share and is likely the only operator that is making profits).

Additionally, the 3G auctions in India are slated to happen by around April and if the company is serious about getting on this next generation data bandwagon, then the free cash flow would put this company in the front row. Mittal has also time and again mentioned in his comments to the media that he believes that the consolidation in the Indian market would start within the next 24 months and given that India is still the primary market for them (despite the competition that exists right now), these funds might help them in gaining some strategic stakes in the Indian market as well. It would perhaps be a wise decision if the company resolves to not dilute its EPS or its short term profits in its African objectives and be more committed to its Indian/South-East Asian business. But then, business is all about taking risks, and Sunil Mittal is no novice to that experience...

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Source :
IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Outlook Magazine money editor quits
Don't trust the Indian Media!

Monday, April 05, 2010

Vertically and horizontally integrated development of the food processing sector

In the light of Micro Small and Medium Enterprises Development Act, 2006, Reserve Bank allows banks to include direct finance to companies for agriculture and allied activities of upto Rs.10 million as Priority Sector Lending (PSL) exposure as against the earlier exposure of Rs.2 million. Direct Finance to agriculture include short, medium and long term loans given for agriculture and allied activities (dairy, fishery, piggery, poultry, bee-keeping et al) directly to individual farmers, Self-Help Groups (SHGs), Joint Liability Groups (JLGs) of individual farmers without limits and to others (such as corporates, partnership firms and institutions). Direct finance to small enterprises include all loans given to micro and small enterprises engaged in manufacture, production, processing or preservation of goods, et al.

Developmental Financial Institutions like NABARD, SIDBI et al and government agencies like CAPART, KVIC have schemes to support the groups and individuals for capacity building and setting up of food processing units. Series of capacity building and skill development training has been conducted for development of food processing activity. Even the bankers have been sensitised about the need for extending credit support to this sector and government departments for inclusion of this sector in their programmes.

It is imperative that the credit policy may be geared towards bringing about a vertically and horizontally integrated development of the food processing sector so as to strengthen the supply base of quality raw materials through (i) commercial and cost-effective production, (ii) contract farming Alongside attention may be focused on post harvest management and marketing et al like cold chain and direct marketing through infrastructure development.

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IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Outlook Magazine money editor quits
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Friday, April 02, 2010

Quit boredom, visit Quito!

Situated at the foot of the active volcano Pichincha, and spread across a spectacular Andean valley, Quito enjoys a spectacular natural setting. As a matter of fact, owing to its natural beauty and myriad historical sites, this Ecuadorian city enjoys the reputation of being the first city in the world to be named as a World Heritage Site by UNESCO.

Stroll back in time, as you take a horse carriage ride in the old town. The Mirador El Panecillo statue, which is better known as ‘Virgin of Quito’, stands atop the Panecillo at the southern end of this colonial city. Bordered by the Government Palace on the west, City Hall in the east, Archbishop’s Palace in the north and the Cathedral in the south, is the La Plaza de la Independencia, a building compound of great significance in the 16th century, which is now usually jostling with tourists throughout the year. The former Archbishop’s Palace is now converted into a mini market with a series of small shops and boutiques. Walking into the narrow cobblestone streets transports you to another era.

A 20-minute walk from the old town and an entirely different world welcomes you with trendy cafes, multistory constructions, parks and museums. The new town (Quito) has a plethora of options for your itinerary. Do visit La Compañía de JesĂșs church, which is regarded as one of the most ornate structures in Ecuador. At the very top of the church is a 7-tonne gold leaf covering the ceiling. The church is one of the finest Spanish architectures one can find. To enjoy a bird’s-eye view of the Pichincha Volcano and the Quito landscape, head straight to Quito’s best-known tourist attraction – El Teleferico, where the ‘Teleferico’ cable car takes you to an altitude of 4050 meters from where one can start an adventure-filled hike to the snow-capped volcanoes.

Set up on a hill overlooking Quito on one side and the valleys on the other, Parque Metropolitano, with a maze of forest paths, roads, sports fields and picnic areas is a picture of pure bliss!

For those planning to escape the crowds, there are many day trips organised by the city to its neighbouring regions. Visit the thermal springs at Papallacta’s or simply enjoy the picturesque view at the pretty pueblos dotted along the quaint Valle de los Chillos.

With warm, welcoming inhabitants, and myriad museums and plazas to be explored, Quito holds the promise of a rare, unforgettable experience!

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Source :
IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Outlook Magazine money editor quits
Don't trust the Indian Media!

Thursday, April 01, 2010

Will sports india ever get more saharas

The public statement issued by Sahara read, “In the interest of the national hockey players, Sahara India Pariwar has decided to pay immediately, Rs.10 million in suspense account to Hockey India, only for distribution to the players so that they can return to practice and play for the country.” This action only saw more skeltons tumble out of the closet. A week later, the Indian Women’s Hockey team also raised its voice demanding payment of similar dues. This time however, it was Shivraj Singh Chauhan, the Chief Minister of Madhya Pradesh, who stood up for the rights of the Women’s Hockey team and donated a sum of Rs.10 million.

Whether it be the case with Hockey India or the controversy surrounding the National Rifle Association of India (which had initially left out India’s first individual Olympic gold medalist Abhinav Bindra from the core group for the Commonwealth Games 2010), it is obvious that even the organisers of sporting events, the companies and the marketing agencies, are least interested in sponsoring sporting events other than cricket. Supporting these views are the sports marketing people, who believe that the marketers are simply obsessed with cricket, and cricket only, and thus refuse to look out for other options. The reason for the step-motherly treatment to other communities in the sports society is simply that marketing companies, generally, find few takers for events like chess, volleyball, basket-ball, and even games like football, tennis and table tennis, generate low interests. And for games like kabaddi and kho-kho, there are only a few local brands found flashing their banners in the dusty skies. Justifying the lack of interest on the part of India Inc., Nandan Piramal, of the Piramal Group and founder of Pune Football Club, says that the returns on investments associated with sponsoring sports prevents the corporates from throwing away money without purpose. There are more people like him in the industry, who want to do much more, but are looking out for economic viability. Doubling up on the alibis, a source close to the Sports Authority of India (SAI) said on conditions of anonymity that, “In the absence of any proper encouraging factors like tax incentives or any other kind of subsidy, the corporates find it useless to invest in sports.”

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Source :
IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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