Other Briefings
Foreign Investors Concerned About India’s Rising Violence
July 28 – Bombs rocked two Indian cities in the last two days, killing more than 50 and injuring several hundred. While the culprits have still not been identified, authorities claim the unprofessionally made bombs were meant to create animosity and unstability in the subcontinent.
India's ruling coalition recently won a trust vote after a large minority led by the Communist Party of India pulled out of the government. The same government is up for elections again next year, when their five-year term ends. Bombs, just before elections, as a means of creating unstability are unfortunately becoming more common in India, as terrorist fractions plan to divide the country on communal grounds.
Finally the World Listens To India…
July 25 – As India's trade and bargaining power rises globally, Indian politicians are learning how to stand up for the 1.2 billion Indians that are just begining to see the effects of globalization.
Recently at the Doha Round of free trade talks in Geneva, Kamal Nath, India's Commerce minister, is believed to have disagreed with the U.S and E.U on all accounts of trade subsidies in favour of the rich develped nations – The Wall Street Journal said of this:
The result on Wednesday was a 12-hour session that EU Trade Commissioner Peter Mandelson called "some of the most difficult and confrontational negotiations" of his four-year term. The reason, according to European, U.S. and Brazilian officials: Mr. Nath. "He just sat there and said 'No' for 12 straight hours," a trade official said. Kamal Nath was part of the seven negotiaters chosen from 30 WTO delegates, the other negotiaters were – the U.S., the European Union, China, Brazil, Australia and Japan.
Aviation Industry Won’t Face Turbulance for Too Long
July 24 – Even as major airlines across the world plan to cut air routes to low load destinations, in the face of rising fuel costs, Dinesh Keskar, Senior Vice-President – Sales, Boeing Commercial Airplanes, feel that after this turbulant time, India's aviation industry will see smooth sailing.
The current downturn in the Indian aviation industry would end in the next 10 to 12 months as the sector reduces flights and resolves overcapacity issues, said the US-based aircraft manufacturer Boeing told the Hindu Business Line.
The Man of the Moment: Manmohan
July 23 – Seventeen years after Manmohan Singh "libralized" India's economy leading the nation to attain Asian superpower status, he's once again proven that as a visionary he knows whats needed for India's development and that he's got the nation's support.
After two gruelling days in Parliment house, where leaders of the ruling coalition UPA party fought tooth and nail with their opposition, Manmohan Singh's UPA party won the trust vote by 19 votes. The ruling coalition secured 275 votes as against 256 by the Opposition. As many as 10 members were absent or abstained from voting. The emergency need for a trust vote was called for when the left parties, a large minority in the ruling coalition decided to withdraw from the government as Manmohan Singh agreed to sigh the nuclear deal with America.
India Opposed U.S. Farm Subsidies
July 21 – India has strongly opposed an extention of agricultural subsidies granted to the United States at the recently held Doha round of global free trade talks being held in Geneva.
The latest draft on agriculture modalities circulated by committee of agriculture chairman Crawford Falconer has given a special ‘carve-out’to the US in the form of a different base period for subsidy calculation than others which will allow it to maintain a higher subsidies of US$5 million.
Fuel Prices Attack Hospitality Industry Too
July 18 – Hotel room rates in New Delhi have dropped almost 50 percent the lowest in two years on the back of rising aviation fuel fees and an economic slowdown, the Times of India reported
"Corporates have cut travel of their executives which has affected our occupancy. Although the tariff is in the range of Rs 5,000-Rs 8,000 (US$117-187) in five-stars, they are still pretty affordable. But with airfares being where they are, personal leisure travel is becoming out of reach of the middle class," said an leading hotelier.
Everybody’s Right To Information
July 16 – India's bringing the best of its legal and technology sectors together – the government is considering setting up a Right to Information call centre. After the success of the Right to Information Act enforced in 2005, which gives the citizens of India access to government information, empowering them to hold the state accountable, the call center will make the act more accessable.
If all goes well, the call center will allow applicants to seek information over the phone from any of the central government departments and organizations across the country, reported the Times of India.
The call centre will save citizens the trouble not only of writing and posting the RTI applications to different public authorities but also of buying postal orders or demand drafts for paying the nominal fee of Rs 10.
India’s Diamond Traders Have Their Work Cut out For Them
July 14 – A little known fact states that India polishes about nine in every ten diamonds, mostly tiny stones less than a carat. None the less, the country's diamond traders have their eyes set on brighter tragets – the trade of rough diamonds.
"We're trying to make India the largest trading centre and manufacturing centre for diamonds," said Sanjay Kothari, the chairman of India's Gem & Jewellery Export Promotion Council (GJEPC) told Reuters. "Why should we go to Antwerp?"
A bullish confidence is common among Indian businessmen these days. Nonetheless, even if few see Antwerp being eclipsed any time soon, the ambition of Kothari and his colleagues is giving pause to at least some Antwerp traders.
