Archive for ‘India alert’

12/03/2014

Police: Rebels kill 18 soldiers in central India – Businessweek

Police say Maoist rebels have killed 18 paramilitary soldiers in an ambush in central India.

Mukesh Gupta said rebels ambushed a paramilitary camp on Tuesday in a remote and dense forest in Chattisgarh state.

The police said the rebels surrounded the camp and opened fire, killing 18 instantly. Several others were injured in the attack in the Jiram Ghati area in southern Chattisgarh.

The rebels, who say they are inspired by Chinese revolutionary leader Mao Zedong, have been fighting for more than three decades in several Indian states, demanding land and jobs for agricultural laborers and the poor.

via Police: Rebels kill 18 soldiers in central India – Businessweek.

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07/03/2014

India’s anti-graft party takes aim at Modi’s economic model | Reuters

Indian opposition politician Narendra Modi, who leads opinion polls ahead of next month’s general election, faces pressure from a small anti-graft party attacking his economic model on his home turf, the thriving state of Gujarat.

Arvind Kejriwal and friends

Arvind Kejriwal and friends (Photo credit: vm2827)

The pro-business leader has presided over rapid economic growth during more than 12 years as the chief minister of the coastal state, and slashed red tape to attract companies such as Ford, Maruti Suzuki and Tata Motors.

Now, Modi promises to replicate his state’s development model nationwide if he becomes prime minister.

But Arvind Kejriwal, the leader of the Aam Aadmi Party, on Friday said small businessesin the state were being shuttered, public schools and health services were in poor shape and claims of regular supplies of electricity were not true.

“What is your development model?” Kejriwal asked as he tore into the heart of Modi’s campaign, saying that 400,000 of the state’s farmers who had applied for electricity connections years ago had yet to receive them.

“If you haven’t even given a connection, how will you give them electricity?”

India’s western state of Gujarat has been hailed for rapid measures to develop infrastructure and provide stable power supply, but critics often say it lags behind other states in social development.

“What we’ve seen in the last two days is quite shocking,” Kejriwal told reporters at a meeting on the edge of the state’s commercial capital of Ahmedabad.

Kejriwal, who was denied an audience with Modi, questioned the Gujarat chief minister’s claims on farm growth, job creation and clean governance, and suggested he was too close to big business.

He was on a tour to study conditions in Gujarat, as part of his party’s first national campaign since bursting onto the political scene with a stunning victory in Delhi’s local election in December.

via India’s anti-graft party takes aim at Modi’s economic model | Reuters.

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06/03/2014

20 Clever Inventions Given to Us by the Incredible Indians!

annetbell's avatarTalesAlongTheWay

20 Clever Inventions You Probably Didn’t Know Were Made By Indians

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FEBRUARY 20, 2014

indian-inventions-cover
Indian inventions and discoveries have been instrumental in shaping the face of the current modern world. We picked up 20 such interesting findings out of a whole bunch that will make you go, “I didn’t know that”.

1. Buttons

buttons

image sources 12

Buttons were first used in Mohenjo-daro for ornamental purpose rather than for fastening. They were first used in the Indus Valley Civilization by 2000 BCE.

2. Chess

chess

image sources 12

Chess developed out of Chaturanga, which is an ancient strategy board game developed during the Gupta Empire in India around the 6th century AD. Now you know why Vishwanathan Anand is…

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06/03/2014

Refiners Eye Better Oil Deal Terms on U.S. Boom: Corporate India – Businessweek

India, Asia’s second-biggest energy user, is in talks with Saudi Arabia and Kuwait for better terms on oil contracts as surging U.S. output frees up supplies.

Hindustan Petroleum Gas Cylinder

Hindustan Petroleum Corp. (HPCL), India’s third-largest state refiner, is seeking to at least double the interest-free credit period for crude purchases from Saudi Arabia and Kuwait to 60 days, B.K. Namdeo, the company’s refineries director, said in Mumbai. Mangalore Refinery & Petrochemicals Ltd. (MRPL) wants price discounts for agreeing to contracts that are more than 10 years long, according to Managing Director P.P. Upadhya.

“Discussions are going on, and we expect the extended credit period to be reflected in the new contracts from April 1,” Namdeo said. “There is a surplus in the market, and India should take full advantage of the situation.”

via Refiners Eye Better Oil Deal Terms on U.S. Boom: Corporate India – Businessweek.

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06/03/2014

Stock Market Cheers Potential End of Congress Reign – India Real Time – WSJ

Here’s a recipe to make Indian stocks investors happy: tie the hands of the ruling Congress-led government and hint that the opposition Bharatiya Janata Party will be forming the next government.

India’s benchmark 30-share S&P BSE Sensex hit a record high Thursday of 21513.87 points, marking the third straight session of gains.

As India heads towards national elections, investors have been following the twists and turns of the political world more closely in recent months. The next election will likely have a big impact on whether, when and by how much Asia’s third largest economy will rebound.

The country announced this week that the national polls will begin April 7 and be done by May 16 which has some optimists hoping that uncertainty about who will be leading the world’s largest democracy will be over in a little more than two months.

Some investors have become frustrated by the ruling Congress party because they believe it has stalled reforms and delayed important investments in the close to ten years it has been in power. Instead, critics say, the Congress-party led coalition has focused on populist measures, including a bill to provide almost free food to around two thirds of the population.

One good thing about election season, investors say, is that Congress will not be able to announce any new perks for the poor. The Election Commission of India prohibits parties from launching welfare programs during the election process.

“The uncertainty is now over,” said Sharmila Joshi, an independent research analyst in Mumbai. “The market is (optimistic) that there won’t be any more populist measures.”

via Stock Market Cheers Potential End of Congress Reign – India Real Time – WSJ.

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06/03/2014

India’s SAIL-led group hopes to buy coal assets in Poland-chairman | Reuters

A consortium led by India’s Steel Authority of India Ltd, the country’s second-biggest steelmaker, hopes to buy coal assets in Poland in the next few months, Chairman C. S. Verma said on Thursday.

Steel Authority of India Limited

Steel Authority of India Limited (Photo credit: Wikipedia)

Most steel producers in India, the world’s third-largest coal importer, depend on overseas coal shipments and are trying to buy mines in Africa and Europe.

SAIL-led International Coal Ventures Private Ltd (ICVL), whose five participating firms are all state-owned or state-controlled, has been scouting for mines since 2009.

Verma said they had already invested in due diligence for the Polish assets.

JSW Steel Ltd, India’s third-largest steel maker, has already bought U.S. mines that produce the coal used in steel making.

India’s coal imports rose 21 percent to 152 million tonnes last year, with most of that being thermal coal used to generate power, according to Delhi-based research firm OreTeam. (Reporting by Krishna N Das; Editing by Jo Winterbottom)

via India’s SAIL-led group hopes to buy coal assets in Poland-chairman | Reuters.

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06/03/2014

Coal India plans to set up power plant in 2015/16 | Reuters

The company has often said its output would be 300 million tonnes more than the current figure of about 475 million given enough rail tracks to carry the fuel from new and remote mines.

Insufficient connectivity is one of the reasons the company has lagged output targets for more than six straight years – leading to shortages at power producers and crippling outages.

“The country either needs coal or power,” said CB Sood, an executive director at the company. “If we are not able to evacuate coal, we should set up pit-head power plants.”

Speaking on the sidelines of a coal conference in the resort state of Goa, Sood said the company was seeking a joint venture partner to set up the plant.

via Coal India plans to set up power plant in 2015/16 | Reuters.

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06/03/2014

BBC News – India police use WhatsApp to trace missing boy

A missing 11-year-old boy in India has been found after he was spotted by a member of the public who received a WhatsApp alert sent out by police.

Police message on the missing boy

Police in the northern town of Bareilly say they used the instant messaging service to send out the boy’s photo to several mobile phones in the area.

A man travelling on a train, who had received the alert, recognised the boy sitting near him and called the police.

India has more than 900 million mobile users and WhatsApp is hugely popular.

The app, used by more than 400 million people globally every month, was bought by social networking site Facebook recently for $19bn (£12bn).

via BBC News – India police use WhatsApp to trace missing boy.

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06/03/2014

* India’s path from poverty to empowerment | McKinsey & Company

India has made encouraging progress by halving its official poverty rate, from 45 percent of the population in 1994 to 22 percent in 2012. This is an achievement to be celebrated—yet it also gives the nation an opportunity to set higher aspirations. While the official poverty line counts only those living in the most abject conditions, even a cursory scan of India’s human-development indicators suggests more widespread deprivation. Above and beyond the goal of eradicating extreme poverty, India can address these issues and create a new national vision for helping more than half a billion people attain a more economically empowered life.

MGI senior fellow Anu Madgavkar and McKinsey director Rajat Gupta discuss India’s prospects for raising living standards and ending extreme poverty.

To realize this vision, policy makers need a more comprehensive benchmark to measure gaps that must be closed and inform the allocation of resources. To this end, the McKinsey Global Institute (MGI) has created the Empowerment Line, an analytical framework that determines the level of consumption required to fulfill eight basic needs—food, energy, housing, drinking water, sanitation, health care, education, and social security—at a level sufficient to achieve a decent standard of living rather than bare subsistence.

In applying this metric to India, we found that in 2012, 56 percent of the population lacked the means to meet essential needs. By this measure, some 680 million Indians experienced deprivation, more than 2.5 times the population of 270 million below the official poverty line. Hundreds of millions have exited extreme poverty but continue to struggle for a modicum of dignity, comfort, and security. The Empowerment Gap, or the additional consumption required to bring these 680 million people to the level of the Empowerment Line, is seven times higher than the cost of eliminating poverty as defined by the official poverty line (exhibit).

via India’s path from poverty to empowerment | McKinsey & Company.

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05/03/2014

India Gets Record Port Investment After Tariff Is Deregulated – Businessweek

India has secured a record 207 billion rupees ($3.4 billion) of investment in port projects after it deregulated tariffs.

The nation has awarded bids for thirty ports in the year ending March 31, Shipping Secretary Vishwapati Trivedi said in an interview. The value is more than three times greater than projects awarded in fiscal 2013, he said. The projects will add 217.6 million metric tons of annual cargo-handling capacity, according to the Ministry of Shipping.

The bids will ease congestion at Indian ports where the average turnaround time for ships was about three days in 2013, compared with about one day in Singapore and Shanghai, according to a report by Anand Rathi Shares and Stock Brokers Ltd. They will also help India meet a 2020 target of more than doubling its port capacity to 3,200 million metric tons at an investment of 2.87 trillion rupees.

via India Gets Record Port Investment After Tariff Is Deregulated – Businessweek.

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