Posts tagged ‘Non-resident Indian and person of Indian origin’

26/05/2015

The Top 10 Successes of Narendra Modi’s First Year – India Real Time – WSJ

Opinions differ on what Indian Prime Minister Narendra Modi has accomplished in his first year but most observers agree he has been busy since taking over last May.

Opinions differ on what Indian Prime Minister Narendra Modi has accomplished in his first year but most observers agree he has been busy since taking over last May.

He’s been relentless, offering constituents of world’s largest democracy a constant flow of policy speeches, international trips, colorful photo opportunities and ambitious new programs.

His charismatic style of governing has had mixed results.

While he has had some failures–including his party’s defeat in the Delhi elections and its inability to calm concerns within minority communities as outlined in this accompanying post about Mr. Modi’s misses—he has also had some impressive successes.

Here are 10 that stood out:

More Foreign Direct Investment: There was no big-bang busting India open to international competition and deregulation in Mr. Modi’s first year, but the prime minister has to get credit for allowing more FDI in the insurance, defense and other sectors.

Diesel Deregulation: This politically unpopular move was delayed for years but Mr. Modi just ripped the Band-Aid off and freed up diesel prices to move with the global market, potentially saving the government billions of dollars.

Global Diplomacy: Though he made little headway with India’s biggest rival–Pakistan–Mr. Modi’s globetrotting brought the country closer to most of its other neighbors and raised the nation’s profile around the world. Getting President Barack Obama to India for Republic Day was a brilliant public relations coup even if the U.S. President voiced concerns about how India treated its minorities while here.

GDP Growth: Some time during Mr. Modi’s reign, India overtook China as the fastest- growing large economy in the world. Although most of the jump in GDP came from a reworking of how the number is calculated, the revised figure produced a new point of pride for many.

Direct Subsidy Payments: Replacing leaky, expensive-to-administer and badly-targeted subsidies with direct payments to the poor is a more efficient way to help the country’s needy. Mr. Modi started direct payments for cooking gas in some places and is hoping to expand them to subsidize food and fertilizer purchases for the poorest.

Coal and Telecom Auctions: Coal mining rights and telecommunications bandwidth were at the center of the biggest scandals that helped to sink the Congress party in general elections in 2014. Mr. Modi’s Bharatiya Janata Party did not shy away from putting them back on the block to help raise money for the government and kick-start growth in these crucial sectors.

Media Management: Prime Minister Modi starved the media of access at the same time as flooding the airwaves. Speeches broadcast on every news channel, a regular radio show, carefully curated photo opportunities in weird outfits and wonderful places and an unprecedented barrage ofsocial media messages through Facebook, Twitter and even Weibo in China have all been used to let the world know what Mr. Modi is doing and thinking.

Scandal Free: Of course it’s early in the game, but so far in his premiership, there has been no huge scandal to suggest that the latest people in power are more corrupt than the last batch.

This Outfit: When the prime minister greeted President Obama, wearing this dapper suit in January, he wrecked the Internet. Mr. Modi’s vanity pinstripes had the worldwide web buzzing for weeks after Mr. Obama left and then sold at auction for close to $700,000. The money went to charities that work to educate girls.

Mr. Modi hugs Barack Obama while wearing a pinstrip suit with his name in the stitching.

AFP/Getty

He’s been relentless, offering constituents of world’s largest democracy a constant flow of policy speeches, international trips, colorful photo opportunities and ambitious new programs.

His charismatic style of governing has had mixed results.

While he has had some failures–including his party’s defeat in the Delhi elections and its inability to calm concerns within minority communities as outlined in this accompanying post about Mr. Modi’s misses—he has also had some impressive successes.

Here are 10 that stood out:

More Foreign Direct Investment: There was no big-bang busting India open to international competition and deregulation in Mr. Modi’s first year, but the prime minister has to get credit for allowing more FDI in the insurance, defense and other sectors.

Diesel Deregulation: This politically unpopular move was delayed for years but Mr. Modi just ripped the Band-Aid off and freed up diesel prices to move with the global market, potentially saving the government billions of dollars.

Global Diplomacy: Though he made little headway with India’s biggest rival–Pakistan–Mr. Modi’s globetrotting brought the country closer to most of its other neighbors and raised the nation’s profile around the world. Getting President Barack Obama to India for Republic Day was a brilliant public relations coup even if the U.S. President voiced concerns about how India treated its minorities while here.

GDP Growth: Some time during Mr. Modi’s reign, India overtook China as the fastest- growing large economy in the world. Although most of the jump in GDP came from a reworking of how the number is calculated, the revised figure produced a new point of pride for many.

Direct Subsidy Payments: Replacing leaky, expensive-to-administer and badly-targeted subsidies with direct payments to the poor is a more efficient way to help the country’s needy. Mr. Modi started direct payments for cooking gas in some places and is hoping to expand them to subsidize food and fertilizer purchases for the poorest.

Coal and Telecom Auctions: Coal mining rights and telecommunications bandwidth were at the center of the biggest scandals that helped to sink the Congress party in general elections in 2014. Mr. Modi’s Bharatiya Janata Party did not shy away from putting them back on the block to help raise money for the government and kick-start growth in these crucial sectors.

Media Management: Prime Minister Modi starved the media of access at the same time as flooding the airwaves. Speeches broadcast on every news channel, a regular radio show, carefully curated photo opportunities in weird outfits and wonderful places and an unprecedented barrage of social media messages through Facebook, Twitter and even Weibo in China have all been used to let the world know what Mr. Modi is doing and thinking.

Scandal Free: Of course it’s early in the game, but so far in his premiership, there has been no huge scandal to suggest that the latest people in power are more corrupt than the last batch.

This Outfit: When the prime minister greeted President Obama, wearing this dapper suit in January, he wrecked the Internet. Mr. Modi’s vanity pinstripes had the worldwide web buzzing for weeks after Mr. Obama left and then sold at auction for close to $700,000. The money went to charities that work to educate girls.

Mr. Modi hugs Barack Obama while wearing a pinstrip suit with his name in the stitching. AFP/Getty

This Solo: Mr. Modi needed only a few minutes watching a Taiko drum performance during his visit to Japan before he grabbed the sticks and proved he could bash it out with the best of them.

via The Top 10 Successes of Narendra Modi’s First Year – India Real Time – WSJ.

14/04/2015

Narendra Modi: India Has Changed – India Real Time – WSJ

Indian Prime Minister Narendra Modi sought to convince German industry that India is a reliable place to do business on his first visit to Europe’s largest economy as India’s leader.

View image on Twitter

“I am here to assure German companies that India is now a changed country — transparent, responsive and stable,” Mr. Modi told a delegation of Indian and German business leaders on Monday.

The Indian leader insisted that he was committed to introducing a “predictable” business environment in his country, as German Chancellor Angela Merkel welcomed him for the start of the Hannover Messe trade fair.

As the official partner country of the Messe—the world’s largest industrial trade fair—India is promoting its industrial and technological assets as Mr. Modi seeks to draw German industrial investment to his country.

Months after his election last May, Mr. Modi, of the conservative Bharatiya Janata Party, launched a “Make in India” campaign to promote the country as an investment destination and manufacturing center. His goal is to market India as an industrial hub for foreign players eager to take advantage of the country’s large workforce, raw materials and infrastructure.

via Narendra Modi: India Has Changed – India Real Time – WSJ.

17/04/2014

Non Residents Are Stakeholders in India’s Future Too – India Real Time – WSJ

Conversations in Mumbai are usually about the elections these days – be it at roadside food stalls or in the boardrooms of India’s financial capital.

The stakes, after all, are high: following a period of robust growth, the country’s economy has slowed considerably in the past few years – largely because of (depending on who you talk to) the global crisis, policy paralysis, corruption and such. Inflation too is a massive concern.

The need of the hour, most agree, is a secular, stable and investment-friendly government that helps create prosperity for India’s multitude, and not just for a few seen close to the powerful.

That in essence is also the main topic of discussion some 2000kms to the west of the city – for non-resident Indians in Dubai, a fast growing regional financial hub.

Back in the 70s and 80s, hordes of Indians left the country in search of better opportunities – many of whom came to the oil-producing Middle East countries. The tech boom of the 90s provided them another global opening, though by then economic reforms at home were also taking effect – helping drive growth and creating more and better-paying jobs in the next decade.

Many Indians still look abroad for livelihood, but have increasingly channelled a big chunk of their earnings back home in search of returns. And why not? Even global investors are happily betting on the country’s future.

India topped the global list for remittances in 2013 – receiving some $70 billion, according to a World Bank report last week, underscoring its importance as an important source of foreign exchange. To be sure, remittances last year were “more than the $65 billion earned from the country’s flagship software services exports,” the World Bank noted.

That the country has been among the leading recipients of remittances over the past few years is not surprising, given that some 25 million Indians (variously classified) live abroad and, in several cases, continue to have strong familial ties back home.

The importance of Indians living overseas and their contribution to the country has been recognised on various platforms – such as the Pravasi Bharatiya Divas, which has been held every year since 2003 to “mark the contribution of Overseas Indian community in the development of India,” according to the Ministry of Overseas Indian Affairs.

The ministry says these conventions facilitate the overseas Indian community to engage with the government and people for “mutually beneficial activities”. Simply put, Indians living overseas are increasingly participating more actively back home.

But they – the millions of NRIs – still can’t vote from foreign locations and choose a government of their liking in the country’s general elections.

via Non Residents Are Stakeholders in India’s Future Too – India Real Time – WSJ.

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