Chindia Alert: You’ll be Living in their World Very Soon
aims to alert you to the threats and opportunities that China and India present. China and India require serious attention; case of ‘hidden dragon and crouching tiger’.
Without this attention, governments, businesses and, indeed, individuals may find themselves at a great disadvantage sooner rather than later.
The POSTs (front webpages) are mainly 'cuttings' from reliable sources, updated continuously.
The PAGEs (see Tabs, above) attempt to make the information more meaningful by putting some structure to the information we have researched and assembled since 2006.
MUMBAI/NEW DELHI (Reuters) – Police broke up clashes between rival groups of voters in West Bengal on Monday as some of India’s richest families and Bollywood stars also cast their ballots in Mumbai during the fourth phase of a massive, staggered general election.
In West Bengal, a populous eastern state crucial for Prime Minister Narendra Modi’s re-election bid, supporters of his Hindu nationalist Bharatiya Janata Party (BJP) clashed with others from the regional Trinamool Congress, police said.
TV footage showed armed security forces chasing away people wielding sticks, although it was initially difficult to determine the scale of the clashes.
There were no immediate reports of any poll-related injuries in West Bengal, where at least one person was killed and three injured during the third phase of voting last week.
The BJP is in a direct, and sometimes bloody, fight in West Bengal with Trinamool, whose chief Mamata Banerjee is one of Modi’s biggest critics and a potential prime ministerial candidate.
More than 127 million people are eligible to vote in this round of the seven-phase election held across 71 seats in nine states. Modi’s coalition won more than 75 percent of the seats in the previous election in 2014.
Many of the constituencies are in Uttar Pradesh in the north and western India’s Maharashtra, where the financial capital Mumbai is located. Uttar Pradesh elects the most lawmakers, with Maharashtra next. Both states are ruled by the BJP and its allies.
However, political analysts say the BJP may struggle to repeat its strong showing this time due mainly to a jobs shortage and weak farm prices, issues upon which the main opposition Congress party has seized.
‘SOME PROGRESS’
First-time voter Ankita Bhavke, a college student in Mumbai, said she voted for economic development.
“I want the country to be at par with the best in the world,” she said. “There’s been some progress in the last five years.”
India’s financial markets were closed on Monday for the election.
Mumbai is home to the massive Hindi film industry, as well as Asia’s wealthiest man, Mukesh Ambani, and India’s richest banker, Uday Kotak.
Ambani, who heads Reliance Industries, and Kotak, managing director of Kotak Mahindra Bank, created a stir this month by publicly endorsing an opposition Congress party candidate from their upscale South Mumbai constituency.
Mumbai, which has six seats, is India’s wealthiest city but ageing and insufficient infrastructure is a major concern. Six people were killed last month when part of a pedestrian bridge collapsed, recalling memories of a 2017 rush-hour stampede that killed at least 22 people on a narrow pedestrian bridge.
The election, the world’s biggest democratic exercise with about 900 million voters, started on April 11 with Modi in the lead amid heightened tension with long-time enemy Pakistan.
The last phase of voting is on May 19, with results released four days later.
There are a total of 545 seats in the Lok Sabha.
Modi sent warplanes into Pakistan in late February in response to a suicide attack by an Islamist militant group based there that killed 40 Indian police in the disputed Kashmir region.
Modi has sought votes on his tough response towards militancy and in recent days has evoked the deadly Easter Sunday bombings in nearby Sri Lanka.
Maidul Islam, a professor of political science at Kolkata’s Centre for Studies in Social Sciences, said long queues outside polling stations would indicate whether Modi’s national security pitch was working.
“Whenever there is a BJP kind of a wave, you see a higher voter turnout,” he said.
NEW DELHI (Reuters) – India’s new curbs on e-commerce companies may not be enough to win over small store owners and traders in next year’s general election, with the key voting bloc still seething over what it sees as broken promises by Prime Minister Narendra Modi.
From Feb. 1, e-commerce firms such as Amazon.com and Walmart-owned Flipkart Group will not be able to sell products from companies in which they have an equity interest or form exclusive agreements with sellers.
Intended to prevent predatory pricing and deep discounting, the curbs follow intense lobbying by India’s many millions of small shopkeepers and the middlemen who serve them, particularly after Walmart this year spent $16 billion to acquire Flipkart.
The sector, which includes an estimated 25 million small store owners, largely supported Modi in the 2014 general election. While seeing the new rules as a step in the right direction, many small businesses feel too much damage has been done after Modi went back on promises that he would not allow the entry of foreign companies into the domestic retail sector.
“We clapped and voted for Modi believing in his promises. But what have we got is just a slap on our face,” said Pankaj Revri, president of a furniture market association in central Delhi.
The curbs, announced on Wednesday, surprised foreign e-commerce firms as little had been done by the government despite over three years of lobbying by domestic retailers.
Modi’s Hindu nationalist Bharatiya Janata Party is widely viewed as panicking after losing five state elections this month. The government, which must hold a general election by May, is also expected to come up with new support programs for farmers as their opposition grows due to low crop prices.
An opinion poll by TV channel ABP News this week predicted Modi’s party could fall short of a majority if the opposition forms an effective alliance in the national election.
EARNINGS HALVED
B.C. Bhartia, president of the Confederation of All India Traders, said some small businesses had seen earnings more than halve in the last few years as they struggle to compete with low prices offered by the American-controlled behemoths.
“The last minute policy change is too little and too late,” he said.
In particular, retailers and traders believe Modi turned a blind eye to what they say was the use of policy loopholes by major e-commerce companies to offer heavy discounts that allowed them to seize market share for goods such as electronic items.
Asked about those accusations, Amazon India said in a statement that it had always operated “in compliance with the laws of the land” and that had more than 400,000 small and medium businesses on its marketplace.
Flipkart declined to comment on the specific allegations.
Small Indian businesses have also been bruised by other Modi policies, including a sudden ban on the use of high-value currency notes in late 2016 and the launch of a national sales tax in 2017, both of which raised compliance costs.
Bhartia said if the government was serious about the concerns of small traders, it should prosecute violators of trade rules and appoint an independent regulator to curb malpractice.
FILE PHOTO: The logo of Flipkart is seen on the company’s office in Bengaluru, India, May 9, 2018. REUTERS/Abhishek N. Chinnappa
A government official told reporters on Thursday the administration could consider demands for a regulator in its new e-commerce policy, expected to be released in the coming months.
A September report by PricewaterhouseCoopers estimated online commerce in India would grow 25 percent a year for next five years, hitting $100 billion a year by 2022.
The new curbs could harm those growth prospects and discourage some foreign investors, said investment consultants.
“Sentiment is definitely hurt,” said Harminder Sahni of retail consultant Wazir Advisors, adding that the policy suggested online retail business should only be done by Indians.
Amazon said in its statement it was evaluating the new guidelines to engage as necessary with the government so it could remain true to its vision of “transforming how India buys and sells and generating significant direct and indirect employment.”
Flipkart said the advent of e-commerce had created hundreds of thousands of jobs and “the industry was set to be a major growth driver for the Indian economy and create millions of jobs in the future.”
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“It is important that a broad market-driven framework through the right consultative process be put in place in order to drive the industry forward,” it added.
The government boasts of attracting nearly $223 billion foreign investment in the last four years, compared with about $152 billion in the previous four years.
CHINDIA ALERT: You'll be living in their world, very soon 