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Showing posts from January, 2012

The steel story! Will Indians finally use Chinese labour to surge ahead?

I have very fond memories of a great patriotic politician of India (very few such men can be found amongst today’s politicians), Vasant Sathe. Apart from his very intelligent, practical and radical views on the tax structure, I remember how he always compared Korea to India to show how a small nation could surge ahead so fast while we kept cheating our countrymen. When I went to Korea recently, I couldn’t but help feel the same; I even wrote about this a few weeks ago in one of my editorials. In the week gone by, I had the opportunity to sit with a gentleman who is a consultant to a company called Electrosteel Steels Limited. He told me the most amazing story of a venture – for setting up a steel plant – by one Mr. Kejriwal near Bokaro on about 1500 acres of land. It is a steel plant being set up with a capacity of 2.2 million tonnes. Hearing the fascinating story (I’ll explain later on why I found it fascinating) of this plant made me remember Mr. Sathe again. Amongst various things,

An analysis of India's pathetic 95th rank in the Corruption Index and its far reaching social impact!

Amongst the many critical predicaments that the Indian economy suffers from, corruption has been one of the biggest monsters, and thankfully the most talked about in recent days. Needless to say, corruption has corroded every delivery system and has made it completely dysfunctional. The entire Indian public life is riddled with overriding rates of corruption – from the Adarsh land scam to Commonwealth Games misappropriations to the 2G spectrum scam – the list here has been endless, and the magnitude, obscene. In fact, India’s public life was never clean – the infamous Bofors scandal, Harshad Mehta’s nexus with senior politicians and Ketan Parekh’s stock market manipulation – all had their own perilous impact on the economy! It requires no empirical study or statistical survey to exhibit that we comfortably are the top performers in all corruption related global indices. Take for instance, Transparency International’s Corruption Perception Index (CPI) where India’s rank has been slippi

Now, The Americans want to shamefully ruin Iran through sanctions

Woodrow Wilson once said that, “A nation that is boycotted is a nation that is in sight of surrender. Apply this economic, peaceful, silent, deadly remedy and there will be no need for force. It is a terrible remedy. It does not cost a life outside the nation boycotted, but it brings a pressure upon the nation which, in my judgment, no modern nation could resist.” Rebutting the same, decades later, Omar Bongo, former President of Gabon, argued against the use sanctions, commenting, “...It is important to observe that when Europe or the United Nations impose sanctions that are supposed to be aimed against a certain regime, usually millions of people end up being directly punished.” With time, the very objective of sanctions has undergone a full transformation – today, sanctions are used mostly for strategic gains than anything else. The United States and its allies (particularly Israel) are closing in on Iran! With a thumping majority (100-0), the US Senate last month approved sanction


Indian diplomat collapses inside a Chinese court In November 2011, Wang Sixin, a law professor in the Communication University of China, opined, “In India, the common law tradition allows judges to begin litigation just based on a news report or a letter from a petitioner, whether [the petitioner is] a lawyer or not. China needs to adopt this practice.” This suggestion of his sounds quite ostensible considering a nation where freedom of speech and expression is highly censored and the judiciary has been used to further this dictatorship of the State. The same was the cruel case in Yiwu city with the Indian diplomat, S Balachandran, who was denied food and medicine despite his repeated requests that he was a diabetes patient; this went on till he actually collapsed and had to be rushed to the hospital. Balachandran was trying to present the case for the release of two Indians who had been kidnapped by Chinese traders because their Yemeni firm had not yet paid some dues. This blatantly