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Indian Economy: Growth -2
<!--QuoteBegin-Mudy+Nov 6 2005, 09:55 PM-->QUOTE(Mudy @ Nov 6 2005, 09:55 PM)<!--QuoteEBegin-->In that case, India should monitor NGOs, as they are used by western and anti-India organization for Social engineering in India and destabilize govt as and when required. Recent examples are Dalit Network, Muslim organization, NRI-SHAI, ASHA, AID etc.[right][snapback]40725[/snapback][/right]<!--QuoteEnd--><!--QuoteEEnd-->

<b>Mudy Ji :</b>

As far as the USA is concerned it is a wee bit too late for that.

The USA has given India Millions of Tonnes of Wheat, Rice and other Food Stuff under the US PL480 Programme.

India paid for this in Indian Rupees which the USA can neither Convert into Foreign Currency nor use for buying Indian goods and Export them (not sure of the limitaitons-rules).

All it can do is use the Indian Rupees in India.

The USA uses these Indian Rupees for buying Property – Diplomatic Purposes, Paying US Staff Local Allowances, Paying Indian Staff, Financing “Democratic Freedom Type Institutions" like NGOs etc. and of course Missionaries i.e. creating a Constituency for Propagating and Promoting its (USA’s) Agenda.

Cheers <!--emo&:beer--><img src='style_emoticons/<#EMO_DIR#>/cheers.gif' border='0' style='vertical-align:middle' alt='cheers.gif' /><!--endemo-->
At present there are very stringent rules to control foreign contribution to NGOs operating in India. All must have noticed that there have been fewer complaints against NGOs from the general public and the media in recent years. In addition to controlling the inflow of foreign money it has also been ensured that foreigners are discouraged to visit India to work in NGOs, as in the past it has been found that many of these social workers from distant lands were engaged in activities detrimental to the security and integrity of the nation.
From Bloomberg

<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Snow Says India's Legal System May Be Repelling Investors
Nov. 7 (Bloomberg) -- U.S. Treasury Secretary John Snow, starting a four-day visit to India, said he would talk to political and business leaders about speeding up the legal process as a means to attract more international investment for ports, highways and other infrastructure projects.

India's courts are clogged, presenting a risk to investors who face delays of several years on earning a return on their money if they face a legal challenge, Snow said today in Mumbai after separate meetings with representatives of U.S. financial companies and infrastructure developers.

Snow said he would raise the idea of creating a special dispute-settlement process for infrastructure projects. <b>India lags other big developing countries in attracting foreign investment, attracting $5.5 billion in the 12 months ended March 31, compared with almost $61 billion for China in 2004 and $11.8 billion for Brazil in the first nine months of this year. </b>

``The legal system leaves a bad taste in the mouths of people trying to take on long-term projects because of the uncertainty of legal outcomes and the length of getting any outcome,'' Snow told reporters. A dispute-resolution mechanism ``seems to respond to a clear concern,'' Snow said. ``Justice delayed is justice denied.''

Snow, 66, is set to have dinner with chief executives tonight and visit the stock exchange tomorrow before departing for New Delhi to meet with government officials, including Finance Minister P. Chidambaram on Nov. 9 and Prime Minister Manmohan Singh on Nov. 10.

Treasury Campaign
The trip is part of a Treasury campaign to forge closer economic links with the world's emerging economic powers, and to improve export and investment opportunities for U.S. companies. In August, Snow visited Brazil, South America's largest economy, and last month spent almost two weeks in China, the world's fastest growing major economy.

The Treasury secretary also invited his counterparts from all three countries, along with Russia and South Africa, to a meeting of the Group of Seven industrial countries that he hosted in Washington in September.

<b>China is already the world's seventh-largest economy, with a gross domestic product of about $1.65 trillion. India's $665 billion economy grew at an average annual rate of 6.3 percent in the decade ended March 31, the fastest since independence from the U.K. in 1947. Brazil's economy has grown by almost a third since 1990 to $603 billion. </b>

``Some future administration is going to benefit from this,'' said Philip Swagel, an economist at the Washington-based American Enterprise Institute and former chief of staff at the White House Council of Economic Advisers. ``It is a forward- looking policy to acknowledge that these countries matter, and are going to matter more.''

`Potential Powerhouses'
These large emerging economies have ``the potential to become the powerhouse economies of the 21st century,'' Tim Adams, Treasury's under secretary for international affairs, said in a briefing before leaving Washington. ``India is a stop along the way toward visiting all those countries.''

The issues Snow said he would raise in India mirror the ones he discussed in Brazil and China.

Snow and Adams have spoken favorably of efforts by politicians in all three countries to implement market-based economic policies. At the same time, they have nudged their counterparts to reduce barriers to international investment in industries from highway construction to banks, and to drop import tariffs.

India's tariffs are ``remarkably'' high, especially for farm goods, according to the latest annual assessment of global trade barriers by the U.S. Trade Representative. India's average tariff rate is 22 percent, compared with 12 percent in China.

Trade Deficit
The U.S. trade deficit with India widened to $6.8 billion in the first eight months of the year from $6.4 billion a year ago. U.S. exports to India rose to $5.2 billion from $3.8 billion, while imports from India increased to $12 billion from $10.2 billion.

``India needs to open up,'' said Stephen Roach, chief global economist at Morgan Stanley in New York, who visited the country last month. ``Historically, India has been closed to foreign direct investment. There is a lot of energy in the government being directed at changing this.''

Where India is succeeding is in developing a strong domestic economy, Roach said. India's consumption as a share of its economy is 64 percent, compared with 58 percent in Europe, 55 percent in Japan and 42 percent in China, Roach said in a report Oct. 31.

Snow may find that comforting. He and Adams in recent months have said shrinking the record U.S. trade deficit will require stronger domestic demand from other countries to buy more of the world's exports.

``It is a land of such potential,'' Swagel said. ``Our main interest there is to support them.''

To contact the reporter on this story:
Kevin Carmichael in Mumbai at  kcarmichael@bloomberg.net.
Last Updated: November 7, 2005 07:43 EST 
Recently, Gujarat had banned operation of some NGOs.
Now Indian origin/NRI are running or front face of "Western nation" operated NGOs. If you check "second attack on IDRF" thread in this fourm you can get some picture how they operate and objective. Majority of them are supported by Commies/COngress party of India. Current government is just ignoring them because these NGOs are against Hindus school or system.
These unregulated NGOs are tools to create unrest in India.
Please read

"The new diplomacy.(alliance of NGOS and small and medium sized nations )
Policy Review; 12/1/2002; Davenport, David"
<b>Bharat Bonanza </b>
<i>The Rs 174,000 crore Bharat Nirman is, writes Kandula Subramaniam, the UPA’s version of Rural India Shining. But is it anything more than old schemes dressed anew? </i>

Interesting plan. And interesting reporting by IE. Pretty balanced it seems. Whats going on at IE - is the honeymoon over ?
Government Hopes Leftist Allies Will Agree to Financial Liberalization

<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->But India's privatization program <b>has been stalled since the current governing coalition came to power in May last year</b> with the support of communist parties, who argue that such moves will make thousand of workers jobless due to <b>likely</b> layoffs.

<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->But the <b>government desperately needs to raise money</b> to keep its fiscal deficit under control and Chidambaram said he hopes some share sale could start before the current fiscal year ends in March, 2006.
India losing emerging market sheen

<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->In August, India was fifth in terms of allocations which amounted to 6.14 per cent. However, in October the rank was down to seven with allocations also coming down to 5.87 per cent.<!--QuoteEnd--><!--QuoteEEnd-->

<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Among emerging markets, the top 10 country allocations were South Korea (2.23 per cent), China (0.81 per cent), Brazil (0.80 per cent), Taiwan (0.71 per cent), Mexico (0.64 per cent), India (0.53 per cent), South Africa (0.35 per cent), Russia (0.25 per cent), Thailand (0.23 per cent) and Israel (0.18 per cent). <!--QuoteEnd--><!--QuoteEEnd-->
And on cue, the spin.. Now, we are #1 on "Re-emerging" markets! If that does not work, we will redefine what economic engine is <!--emo&Big Grin--><img src='style_emoticons/<#EMO_DIR#>/biggrin.gif' border='0' style='vertical-align:middle' alt='biggrin.gif' /><!--endemo-->

<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->India will re-emerge as engine of global economic growth: PM
New Delhi | November 16, 2005 9:32:38 PM IST

<b>Emphasising a distinction between the so-called ''emerging markets'' and the ''re-emerging markets'', </b>Prime Minister Manmohan Singh today said <b>India was engaged in recovering its space </b>and re-emerging as another engine of global economic growth.

''India, like China, is not just an 'emerging market'. It is, if anything, a 're-emerging market'. Our history has been a history of active participation in the global exchange of goods, services and ideas.

''There was a time when our GDP accounted for a quarter of the world's GDP. India is presently engaged in the process of recovering its lost space in the global economy, to re-emerge as another engine of global economic growth,'' he said after the release of seven books by Reserve Bank of India Principal Advisor and Chief Economist Narendra Jadhav.

The Prime Minister, however, pointed out that along with issues of modernization and liberalization and de-bureaucratisation of the economy, greater attention ought to be paid to questions of equity and social justice for this process to be speeded up.

Pointing out that it was difficult to ''walk on two legs'' in India's complex polity, the Prime Minister underlined the need for greater attention to policies that address equity and social justice within the framework of a plural democracy.

Talking about the book, ''Re-Emerging India'', the Prime Minister said he was pleased that the author had tried to mirror the vision of fighting discrimination along with pursuing modernization.

''In our country, there are some who focus all their attention on only one side of the coin of our reality. If all our energies are invested in rewriting the past, when will we write the story of our future? The two have to go together,'' he said.

''We must rid our society of the social evils that have held us back. But we must also build a new India that is capable of dealing with the world in a self-confident manner'', he added.
<span style='color:red'>Yes our PM's assertion is correct, India is indeed economically progressing. The fine-tuning that is required to be done is for accelerating the pace of poverty reduction and increase in the literacy rate. All other aspects of the society will follow on its own once these two are in place.
India is often compared with China and it is often said that we are far behind China. In fact, the India's pace of economic development and manner of development has its own manner which is directly related to the prevailing political, social and other conditions which are quite different that what is prevailing in China.</span>
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>Strong job growth in India, US; weak outlook for Europe</b>

WASHINGTON (AFP) - Prospects for job growth in early 2006 are <b>strong in India, New Zealand, Taiwan, United States and Australia</b>, but weak in most of Europe, a global survey showed.

The Manpower Employment Outlook Survey showed hiring expectations for <b>Sweden and France in the first quarter of 2006 were the weakest since the survey began in these countries in the third quarter of 2003</b>.

The survey by the employment consulting and recruitment group showed 19 of 23 countries surveyed reported positive hiring outlooks for the quarter ahead. But 11 of 23 were weaker compared to last year at this time and most of the lower outlooks are from European employers.

Manpower, based in Milwaukee, Wisconsin, said its quarterly report is "the most extensive, forward-looking employment survey in the world," based on data from more than 45,000 employers worldwide.

"First-quarter hiring across the European labor markets we survey is typically soft, but this year it appears more pervasive, with only UK employers looking to accelerate hiring from the fourth quarter," said Jeffrey Joerres, chairman and chief executive of Manpower Inc.

"A number of labor markets in this region are currently experiencing challenging political, social and economic conditions and this is clearly having an impact on businesses' willingness and/or ability to add to their work forces. For now, at least, companies are going to continue to be cautious."

<b>Among the 12 countries surveyed in Europe, employment prospects were strongest in Britain, Ireland, Norway, Belgium and Spain.</b>

But hiring in Asia Pacific remains strong, according to the survey.

Positive outlooks come from companies in India, New Zealand, Taiwan, Australia, Hong Kong, China and Japan.

<b>"Hiring expectations in India continue to be strongest in the finance/insurance/real estate and services industry sectors," said Joerres.</b>

"However, Indian employers are decidedly more uncertain about hiring as the data shows a 14 percent increase from fourth quarter in the number employers who don't know whether they'll add employees during the next three months."

Japanese employers reported their strongest first quarter outlook since the survey began, he added.

In the Americas, slightly slower hiring is expected in six of 10 US industry sectors in the first quarter, but the overall outlook for the US is strong, Manpower said. Canadian employers also expect a healthy hiring pace but just slightly below the rate reported in the previous year.

"Seasonally adjusted data indicates that US job seekers can expect the same solid hiring pace that employers exhibited throughout 2005," said Joerres.

"Employers are most upbeat about hiring in the construction sector where the adjusted data shows the strongest outlook in 27 years. Slightly weaker but solid hiring expectations are also expected in the US manufacturing and services sectors."<!--QuoteEnd--><!--QuoteEEnd-->
India to earn $60bn from outsourcing by 2010

<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->India to earn $60bn from outsourcing by 2010
Web posted at: 12/13/2005 2:5:4
Source ::: AFP
NEW DELHI: Software and customer services outsourced to India are forecast to grow 25 percent a year by the end of the decade to $60bn, according to a report released yesterday.

<b>The National Association of Software and Service Companies, or Nasscom, and consulting firm McKinsey and Co. estimated that outsourced services will earn $110bn worldwide by 2010 and that Indian companies will get more than half of that business.</b>

“India has the potential to capture more than 50 percent of this opportunity,” said Noshir Kaka, a partner at McKinsey who helped prepare the report.

Nasscom, the lobby firm for local software and service companies, said India now gets 65 percent of the global offshore software market and 46 percent in services.

Most of the new business is expected in outsourced work by insurance, retail, banking and travel companies abroad, the report said.

<b>Software and services now add about $17bn to the economy and directly employ 700,000 people, the report said.

But to grow further, the report says, India will have to train more skilled workers and drastically improve its infrastructure. </b>

Executives from McKinsey said that India needs to create <b>10 to 12 “knowledge cities” with housing, office space, good roads and airports to meet the needs of technology firms and their employees. </b>

“We can’t take another 1.6 million workers and add them to our cities now. Our cities are at a choking point,” said Jayant Sinha, a partner at the consulting firm.


India rising: A medium-term perspective

• India has come a long way from its inward-looking economic strategy of over 50
years ago. Economic liberalisation and the gradual opening up to the world have
boosted growth and lifted millions of people out of poverty. This paper argues that
the continuation of the reform process will allow India to stay on a high growth
path of roughly 6% per year on average over the next 10 to 15 years. If reforms
were pursued more aggressively, real GDP growth could reach 7%-8% per year.
• India will thus become the fastest growing economy out of 34 developed and
emerging markets during that period and the world’s third largest economy by
2020. Moreover, its GDP per capita will double, from roughly USD 2,500 today (at
purchasing power parity) to almost USD 5,000 in 2020. Favourable demographics,
increasing investment in education and infrastructure and further integration
with the world economy are the factors behind our projections.
• The implications of the projected growth trajectory are manifold. First, a larger,
richer consumer market will emerge. Second, consumption patterns will change,
with expenditure on healthcare and transport and communications growing substantially.
Third, household savings will increase, given the large amount of people
entering the working years phase. Fourth, there will be rising demand for diversified
financial instruments to invest those savings.
• IT-related services, textiles, the auto-ancillary industry and pharmaceuticals are
expected to gain dynamism given India’s comparative advantages and current
sectoral trends. The banking sector has an enormous catch-up potential which is
likely to be unleashed by the new domestic investment landscape, gradual privatisation
and opening up to foreign banks.

India to Become the World's Third Largest Economy in 2006
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->India to Become the World's Third Largest Economy in 2006
CHICAGO, Jan. 24 /PRNewswire/ -- After significant accelerations in economic growth recently, India's economy is expected to equal or surpass Japan as the world's third largest sometime in 2006. According to Dr. William T. Wilson, Chief Economist for Keystone India, <b>India's economy, measured in PPP terms, will eclipse the $4 trillion mark in 2006</b>, making it equal to or greater than Japan's. Only the United States and China will possess larger economies.

"The results of liberalizing strategic sectors such as telecom, banking, aviation and real estate are now beginning to show," states Wilson. After growing at 8.5% and 6.9% in 2003 and 2004 respectively, India's economy is expected to grow 7.8% in 2005-2006 (fiscal year ending in March) then decelerate modestly to 7% in 2006-2007. Depending upon the direction of energy prices, inflation is expected to run in the 5-5.5% range for 2006.

<b>Faster growth is expected to boost salaries by an inflation-adjusted 7 percent this year, fueling robust consumer spending. The mobile telecom market in India, the fastest growing in the world, is growing at over 2 million subscribers per month. Motor vehicles' sales, which surpassed the one million mark last year, are expected to continue registering double-digit growth over the next few years. The housing market, expanding at a 10-15% annual clip, is expected to remain robust in 2006.</b>

A number of hurdles do lie ahead. The outcome of state elections in 2006 will play a significant role in determining the health of the coalition government at the federal level. Higher energy prices are also hurting. India currently imports 70 percent of its petroleum.

For interviews, Dr. Wilson can be contacted at 312-943-7764 or william.wilson@keystone-india.com .

Keystone India provides cross border trade facilitation and asset management services to clients in the U.S. and India. Dr. Wilson is managing director and chief economist for Keystone India. He was formerly Chief Economist for Ernst & Young. His profile can be accessed at http://www.keystone-india.com/ .

* PPP eliminates price level differences between nations. At current

exchange rates, India had the world's 12th largest economy in 2005.

First Call Analyst:
FCMN Contact:

Keystone India
CONTACT: Dr. William T. Wilson of Keystone India, +1-312-943-7764,

Web site: http://www.keystone-india.com/

© 2006 SYS-CON Media Inc. <!--QuoteEnd--><!--QuoteEEnd-->
<b>India will be 3rd largest economy in 2006’</b> <!--QuoteBegin-->QUOTE<!--QuoteEBegin-->India will surpass Japan as the world’s third largest economy in 2006 as measured in Purchasing Power Parity (PPP), according to a forecast by a US professional services firm.

India’s economy, measured in <b>PPP terms, will eclipse the $4 trillion mark in 2006</b>, making it equal to or greater than Japans.

Only the United States and China will possess larger economies, according to Keystone India’s chief economist William T Wilson.

"The results of liberalizing strategic sectors such as telecom, banking, aviation and real estate are now beginning to show.
In my personal opinion, White's are very nervous about the growth in economic power of other race's. This endanger's the whole establishment, which includes people like witzel. No wonder then this Professor Summers (also of Harvard) wants westerners to have more fear.



<b>‘History created with India, China’s rise’</b>
Posted online: Thursday, January 26, 2006 at 1514 hours IST
Updated: Thursday, January 26, 2006 at 1521 hours IST

Davos, January 26: Saving the world was on the agenda, but for many of the business leaders, academics and activists attending the ‘big debate’ at the World Economic Forum, the theme may very well have been: saving the West from China and India.

Foreboding hung in the air as participants yesterday discussed key issues that global society must confront to navigate what Harvard University president Lawrence Summers described as one of the most important moments in history, Asia's new economic might.

"What is happening in India and China... The integration of the four-fifths of the world where people are poor with the one fifth of the world where people are rich, has the potential to be one of the three most important economic events in the last millennium, alongside the Renaissance and the Industrial Revolution," Summers said.

He cautioned the room of millionaires and leaders in their fields to focus their minds: "I fear that we have too much hope and too little fear."

But fear was a recurrent subtext at least in the words of the westerners who comprised the majority of those present.

The debate like much of the goings-on at the 2006 edition of the annual Davos extravaganza reflected the realisation by many that global integration and the wondrous technological advancements of recent years could bring traumatic change to countries that have grown comfortable and perhaps a little complacent.
On Dhirubhai..


More then this ask the reliance shareholders.. <!--emo&Smile--><img src='style_emoticons/<#EMO_DIR#>/smile.gif' border='0' style='vertical-align:middle' alt='smile.gif' /><!--endemo-->

One of the Dhirubhai-isms -> MBA == Mane Badhoo Aavde (I know everything) <!--emo&Smile--><img src='style_emoticons/<#EMO_DIR#>/smile.gif' border='0' style='vertical-align:middle' alt='smile.gif' /><!--endemo-->
http://ia.rediff.com/money/2006/feb/06sens...?q=tp&file=.htm <!--emo&:thumbsup--><img src='style_emoticons/<#EMO_DIR#>/thumbup.gif' border='0' style='vertical-align:middle' alt='thumbup.gif' /><!--endemo--> <!--emo&:tv--><img src='style_emoticons/<#EMO_DIR#>/tv_feliz.gif' border='0' style='vertical-align:middle' alt='tv_feliz.gif' /><!--endemo-->
<b> Sensex breaches the historic 10,000-mark</b>

<b>The Sensex journey: 1,000 to 10,000!</b>
<b>Eight Myths about India</b>


"feel good" is back in business.UPA will have to invent a new term though.. In any case <!--emo&:beer--><img src='style_emoticons/<#EMO_DIR#>/cheers.gif' border='0' style='vertical-align:middle' alt='cheers.gif' /><!--endemo-->

As far as increasing the number of stock holders, I dont know about other states but gujjus are reaaally into stocks.

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