Posts tagged ‘India’

17/02/2014

The Other MIT: Microsoft CEO’s Alma Mater in India – Businessweek

Satya Nadella studied engineering at southern India’s Manipal Institute of Technology. Unlike its Massachusetts namesake, the Indian MIT isn’t so accustomed to the spotlight. The school is part of Manipal University, a private school that traditionally hasn’t enjoyed the same prestige as the Indian Institutes of Technology, the country’s elite public-sector schools launched by Jawaharlal Nehru shortly after independence.

Image representing Satya Nadella as depicted i...

Image via CrunchBase

“People’s general perception was the private universities were not able to bring out this kind of quality,” explains Ranjan Pai, Manipal’s chancellor. When it comes to higher education, “the private sector in India has generally been looked down upon.”

Having an alumnus from the Indian MIT in one of the world’s highest-profile—albeit most difficult—corporate jobs should help Pai, 41, as he tries to change that perception. His grandfather founded Manipal in the early 1950s, and today there are two campuses in the state of Karnataka as well as separate schools in the northern city of Jaipur and the Himalayan state of Sikkim. Combined, there are more than 30,000 students attending Manipal classes in person, with an additional 250,000 enrolled online.

via The Other MIT: Microsoft CEO’s Alma Mater in India – Businessweek.

See also: https://chindia-alert.org/2014/02/04/microsoft-names-satya-nadella-as-ceo-india-real-time-wsj/

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17/02/2014

India Budget Plans 2 Gigawatts Solar Farms to Double Capacity – Businessweek

India plans to start work on at least 2 gigawatts of solar farms in the year starting April that would nearly double its current photovoltaic capacity.

English: Solar power plant at Om Shanti Retrea...

English: Solar power plant at Om Shanti Retreat Centre, Gurgaon (Photo credit: Wikipedia)

The proposed new capacity would take the form of four so-called mega solar power projects capable of generating more than 500 megawatts each, Finance Minister Palaniappan Chidambaram said today in New Delhi in a speech announcing an interim budget that would provide funds until a new parliament is elected in national polls due by May.

A record 15 percent of about 800 million voters will be eligible to cast ballots for the first time as the rising cost of electricity turns into an electoral issue. With the solar farms announced today and already existing targets, India is planning a sixfold increase in solar capacity by 2017 to reduce blackouts and diversify away from coal and gas-fired plants hamstrung by fuel shortages.

via India Budget Plans 2 Gigawatts Solar Farms to Double Capacity – Businessweek.

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17/02/2014

India defence spending seen rising 10 pct to $36 bln in 2014/15 | Reuters

India is a top market for defence hardware, buying some $12.7 billion in arms during 2007-2011, according to the Stockholm International Peace Research Institute.

via India defence spending seen rising 10 pct to $36 bln in 2014/15 | Reuters.

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17/02/2014

India budget-2013/14 agri exports likely to touch $45 bln vs $41 bln in 2012/13 | Reuters

India’s Finance Minister P. Chidambaram told parliament on Monday that India’s 2013/14 agricultural exports were likely to touch $45 billion vs $41 billion in 2012/13.

Chidambaram was presenting an interim budget to tide public finances over until a new government is formed after elections due by May.

via India budget-2013/14 agri exports likely to touch $45 bln vs $41 bln in 2012/13 | Reuters.

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13/02/2014

* India Approves Paying $54-a-Ton Subsidy for Raw Sugar Exports – Businessweek

India, the world’s biggest sugar producer after Brazil, will introduce a subsidy on raw sweetener exports to boost shipments amid a domestic glut, a government official said.

The cabinet approved a 3,333 rupees ($54) a metric ton subsidy for exports in February and March and will review the amount in April, the official, who asked not to be named because the person isn’t authorized to speak to the media, said in New Delhi yesterday after the cabinet meeting. That’s 67 percent more than the 2,000 rupees previously proposed by the Food Ministry. India will subsidize as much as 4 million tons in the next two years, the official said.

Bajaj Hindusthan Ltd., Balrampur Chini Mills Ltd. (BRCM) and other mills are counting on government support to increase shipments and trim record losses as cane costs climb and prices drop. The subsidy will help spur exports from India and help the country compete with supplies from Thailand, Michael McDougall, a senior vice president at Newedge Group in New York, said by phone yesterday. Refineries including Dubai-based Al Khaleej Sugar Co. will benefit from Indian supplies, he said.

via India Approves Paying $54-a-Ton Subsidy for Raw Sugar Exports – Businessweek.

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13/02/2014

* Rice Exports From India Climbing to Record on Mideast Demand – Businessweek

Rice shipments from India, the world’s largest producer after China, will probably expand to a record as buyers from Iran to Saudi Arabia boost purchases of aromatic basmati grain used in biryani and pilaf dishes.

Exports are set to increase 7.8 percent to 11 million metric tons in the 12 months through March from a year earlier, said M.P. Jindal, president of the All India Rice Exporters Association. Sales of basmati may jump 14 percent to 4 million tons as cargoes of non-basmati varieties advance 4 percent to 7 million tons, he said in a phone interview.

Shipments are increasing from India as Thailand, once the world’s biggest supplier, is also set to boost exports. The Southeast Asian country has built record stockpiles big enough to meet about a third of global import demand under a buying program that started in 2011. Farmers are demanding the government sell the reserves to pay for their crop.

via Rice Exports From India Climbing to Record on Mideast Demand – Businessweek.

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13/02/2014

Labor Issues Prompt Inquiry into Tata’s Tea – India Real Time – WSJ

Nearly a year after human-rights groups complained about working and living conditions on tea plantations run by Amalgamated Plantations Private Ltd., the World Bank has ordered an inquiry.

APPL, a joint venture of Tata Global Beverages Ltd.500800.BY -1.67% and the International Finance Corp., the private-sector lending arm of the bank, employs around 30,000 people on 20 plantations in the northeastern state of Assam.

Tata Global Beverages owns the Tetley Tea brand.

Rights groups, including People’s Action for Development and Nazdeek, told the bank’s Compliance Advisor Ombudsman that the plantations weren’t adhering to Indian laws.

Many tea workers earn less than $2 a day and it “is impossible to properly feed themselves and their family with this amount of money,” the complaint said. “As a result, many workers suffer from malnutrition.”

Ashoke Bordoloi, chief financial officer of APPL said, “We look after our workers and are compliant with the law.” He said the company would extend “full cooperation” to World Bank auditors.

In 2009, Tata Global Beverages received an investment of $8 million from the IFC to address issues concerning workplace and community health and safety.

But civil rights groups allege that the money hasn’t been used.

“Facilities like living quarters, safe drinking water and toilet facilities and proper education for them, have not yet been provided by the management,” Barnabas Kindo, social activist working with PAJHRA, a group working for improving living conditions of tribal people in the northeast told India Real Time Wednesday.

via Labor Issues Prompt Inquiry into Tata’s Tea – India Real Time – WSJ.

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13/02/2014

Iran asks India for $1.5 bln in oil payments under nuclear deal -sources | Reuters

Iran has asked India for $1.5 billion in back oil payments under the nuclear deal that provides Tehran some relief from Western sanctions, Indian sources with direct knowledge of the matter said on Thursday.

If the payments are approved, this could make India the third of Iran’s major buyers, after Japan and South Korea, to start processing frozen back payments. The payments are contingent on Iran holding to its agreement to start curbing its nuclear programme.

Indian refiners are holding about $3 billion in payments due the Middle Eastern crude producer, one of the sources said.

Other funds owed to Tehran are held in a rupee-denominated account at India’s UCO Bank.

Under the Nov. 24 agreement with six major powers, Iran won access to $4.2 billion of its oil revenues frozen abroad. The fund will be paid out in eight money transfers on a schedule that started with a $550 million payment by Japan on Feb. 1.

via Iran asks India for $1.5 bln in oil payments under nuclear deal -sources | Reuters.

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12/02/2014

Election season in India comes with freebies – Businessweek

Just before village council elections, Southern Tamil Nadu state Chief Minister J. Jayalalitha went all out to gain favor with rural voters. Schoolgirls received laptops. Farm workers got cows and goats. Homemakers were given spice grinders and fans.

The price tag for the giveaway, which started in 2011 and continues today: 20 billion rupees ($322 million) in a state of about 70 million people.

Freebies are a fact of life in Indian politics, and items like livestock are only part of it. All three parties seen as the front-runners in upcoming elections have enticed voters with subsidies on electricity, cooking gas or grain.

via Election season in India comes with freebies – Businessweek.

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12/02/2014

India Among the Worst for Press Freedom – India Real Time – WSJ

The world’s largest democracy remains one of the most restrictive places for the press.

In a report published Wednesday, Reporters Without Borders, a Paris-based think tank, ranked India 140th out of 180 countries surveyed for the free speech it affords the media. This was a one-point jump from the country’s 2013 ranking, when it recorded its steepest fall on the annual-list since 2002.

On Monday, acting on an agreement chalked out by a Delhi court, one of India’s largest publishing houses withdrew a 2009 book that reinterprets Hinduism, the latest instance of a book being removed from circulation in the country.

The authors of Wednesday’s report singled out the insurgency in the disputed territory of Kashmir, where channels of communications, including telephone lines, satellite televisions and the Internet, are routinely suspended in response to unrest, as well as the killings of eight journalists in 2013, for India’s lowly press freedom ranking.  The killings included those of Jitendra Singh, a freelancer in the eastern state of Jharkhand, who documented Maoist activists in the state, and that of Rakesh Sharma, a Hindi newspaper reporter who was shot dead in Uttar Pradesh, India’s most populous state, in August.

The People’s Liberation Front of India, a naxalite group, claimed responsibility for Mr. Singh’s death in April. A probe into the shooting of Mr. Sharma is ongoing.

“Those responsible for threats and physical violence against journalists, who are often abandoned by the judicial system and forced to censor themselves, include police and security forces as well as criminal groups, demonstrators and political party supporters,” the think tank said in the report.

The Indian government has also been under fire in recent years for its clampdown on social media.

India’s Supreme Court for instance is currently hearing a defamation suit against tech giants Google and Facebook, a case that’s been pending before courts since 2011. And in 2012, the government sought to block Twitter accounts of some prominent journalists and news organizations, arguing the content was stoking communal tensions. The same year, a Mumbai court charged cartoonist Aseem Trivedi, who likened the national Parliament to a toilet on his website, with sedition, a charge that was later dropped. These, among other reasons, led to India slipping nine places to 140th in Reporters Without Borders’s 2013 press ranking, which surveyed 179 countries.

via India Among the Worst for Press Freedom – India Real Time – WSJ.

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