Wednesday, November 23, 2011
Should India Revalue the Rupee?
Indian Rupee INR has fallen again now to a new historic low of Rs. 52.76/ 1 USD$. At this rate it will touch Rs 58/$ by end of 2012. Now as we say that India is growing as an economic power is it possible to allow its currency to fall at this rate. Currently Indian Rupee is one of the weakest currencies of the top 10 economic powers. How can we say India as an economic power when its actual power i.e. its currency is one of the weakest in the world. Indian government is fuelling inflation by not revaluing the rupee as it says that it will hurt IT and Exports? How? Is India an export oriented country? Then let me point out that Chinese Yaun and Thai Bhat are both stronger than the rupee and both countries export far more goods than India. India imports large amount of cured oil which cost us USD to pay our vendors. Why can't Indian Government force these countries to accept Rupees rather than USD to pay for our oil requirements. Iran recently agreed for the same, but our government made the payments in Euros rather than Indian Rupee. Do we print Euros or USD to give these countries? No so the best option is to make payments in Indian Rupee. We should make agreements with all our trade partners for a currency Swap program which will allow these countries to buy Indian Rupees and pay in them for goods imported from us. This will also revalue our currency and allow it to be accepted world wide.
Sunday, November 13, 2011
Trivia Softwares:: New Website TMPC.in Launched
Trivia Softwares has launched a new website, http://www.tmpc.in Which is a social organization website.
India to test fire sub-sonic cruise missile Nirbhay next year
India to test fire sub-sonic cruise missile Nirbhay next year
NEW DELHI: Looking to add more lethal firepower to its arsenal, India is planning to test fire its latest 1000-km range sub-sonic land attack cruise missile 'Nirbhay' early next year.
Nirbhay will be a terrain hugging, stealthy missile capable of delivering multiple warheads as per mission requirements.
"We are looking to test-fire the new sub-sonic cruise missile in the first quarter of 2012. The Nirbhay will be a new state-of-the-art missile," DRDO officials told PTI here.
With its range of 1,000 Km, the missile has longer reach than Pakistan's Hatf-7 Babur missile, which claims to have a range of 700 km.
The missile is being developed by the Advanced Systems Laboratory under the DRDO.
Sources said the missile will be sleeker than other similar weapon systems that are operational with different countries.
The Nirbhay will be India's second cruise missile after the 300 km range BrahMos, which is a supersonic system. The missile can be launched from multiple launchers and will be inducted into all the three services.
NEW DELHI: Looking to add more lethal firepower to its arsenal, India is planning to test fire its latest 1000-km range sub-sonic land attack cruise missile 'Nirbhay' early next year.
Nirbhay will be a terrain hugging, stealthy missile capable of delivering multiple warheads as per mission requirements.
"We are looking to test-fire the new sub-sonic cruise missile in the first quarter of 2012. The Nirbhay will be a new state-of-the-art missile," DRDO officials told PTI here.
With its range of 1,000 Km, the missile has longer reach than Pakistan's Hatf-7 Babur missile, which claims to have a range of 700 km.
The missile is being developed by the Advanced Systems Laboratory under the DRDO.
Sources said the missile will be sleeker than other similar weapon systems that are operational with different countries.
The Nirbhay will be India's second cruise missile after the 300 km range BrahMos, which is a supersonic system. The missile can be launched from multiple launchers and will be inducted into all the three services.
Kalam frisked at JFK airport; US apologises
The United States has apologised to former President A P J Abdul Kalam for subjecting him to frisking at New York's JFK airport, an incident that had provoked sharp reactions from India which threatened retaliatory action.
In a written apology to Kalam and the Indian government, the US said, "Appropriate procedure for expedited screening of dignitaries had not been followed".
"We deeply regret the inconvenience that resulted for him (Kalam) as a result of the September 29 incident involving the security screening at JFK Airport in New York," a statement from the US embassy in New Delhi said, noting that it had the utmost respect for Kalam. They also said that US was actively working to prevent such incidents from occurring in the future.
Taking serious note of the incident, India had threatened retaliatory action with External Affairs Minister S M Krishna directing Indian Ambassador to US Nirupama Rao to take up the matter in writing at the "highest level" with Washington.
Officials said the minister has also sought a detailed report on the incident from its mission into the incident which they said was "unacceptable".
The US said that subsequent to the frisking incident, US Charge d' Affairs Peter Burleigh personally hand delivered a letter from the US Transportation Security Administrator to Kalam and a similar letter was delivered to the government of India regretting the incident.
Maintaining that it "deeply values and appreciates" the strong relationship and partnership with India, the US said, "We are confident that despite this regrettable incident, we will continue working closely with India in the many areas of our strategic partnership".
80-year-old Kalam was frisked in New York on September 29 before boarding an Air India flight. Sources said that even after Kalam had taken his seat in the aircraft, the US security personnel forced the crew to open the door and took away the jacket and boots of the former President to check for explosives since they had forgotten to do so before his boarding. The items were later returned to Kalam.
Sources close to Kalam said he doesn't give much thought to such incidents and never complains about them. However, this time, his office informed the Ministry of External Affairs about the incident after he returned home.This is not the first time that Kalam has been frisked by US aviation officials.
Kalam was frisked by officials of US airliner Continental Airlines in April, 2009 despite his name featuring in the Bureau of Civil Aviation Security's list of people exempt from security checks in India.
In a written apology to Kalam and the Indian government, the US said, "Appropriate procedure for expedited screening of dignitaries had not been followed".
"We deeply regret the inconvenience that resulted for him (Kalam) as a result of the September 29 incident involving the security screening at JFK Airport in New York," a statement from the US embassy in New Delhi said, noting that it had the utmost respect for Kalam. They also said that US was actively working to prevent such incidents from occurring in the future.
Taking serious note of the incident, India had threatened retaliatory action with External Affairs Minister S M Krishna directing Indian Ambassador to US Nirupama Rao to take up the matter in writing at the "highest level" with Washington.
Officials said the minister has also sought a detailed report on the incident from its mission into the incident which they said was "unacceptable".
The US said that subsequent to the frisking incident, US Charge d' Affairs Peter Burleigh personally hand delivered a letter from the US Transportation Security Administrator to Kalam and a similar letter was delivered to the government of India regretting the incident.
Maintaining that it "deeply values and appreciates" the strong relationship and partnership with India, the US said, "We are confident that despite this regrettable incident, we will continue working closely with India in the many areas of our strategic partnership".
80-year-old Kalam was frisked in New York on September 29 before boarding an Air India flight. Sources said that even after Kalam had taken his seat in the aircraft, the US security personnel forced the crew to open the door and took away the jacket and boots of the former President to check for explosives since they had forgotten to do so before his boarding. The items were later returned to Kalam.
Sources close to Kalam said he doesn't give much thought to such incidents and never complains about them. However, this time, his office informed the Ministry of External Affairs about the incident after he returned home.This is not the first time that Kalam has been frisked by US aviation officials.
Kalam was frisked by officials of US airliner Continental Airlines in April, 2009 despite his name featuring in the Bureau of Civil Aviation Security's list of people exempt from security checks in India.
Friday, October 7, 2011
India to mull tax sops for IT firms
NEW DELHI (Reuters) - India will consider giving tax sops for information technology companies after the direct tax bill comes into affect, Telecoms and Information Technology minister Kapil Sibal said on Friday.
India is trying to pass a bill in parliament to overhaul its archaic direct tax laws, a key reform aimed at simplifying procedures for investors and bring in more revenue by widening the tax net.
"We will certainly try and do something," Sibal told reporters without giving details.
A spurt in tax rates due to expiry of the Software Technology Parks of India (STPI) scheme earlier this year has hurt margins and crimped profits at Indian IT firms.
India is trying to pass a bill in parliament to overhaul its archaic direct tax laws, a key reform aimed at simplifying procedures for investors and bring in more revenue by widening the tax net.
"We will certainly try and do something," Sibal told reporters without giving details.
A spurt in tax rates due to expiry of the Software Technology Parks of India (STPI) scheme earlier this year has hurt margins and crimped profits at Indian IT firms.
Trapped between a friend and a twin brother
India's decision to underwrite and, in effect, guarantee Hamid Karzai's feeble Afghan government is not wholly lacking in logic. In a strategic pact signed this week, the two countries pledged to co-operate on trade and counter-terrorism, and Delhi agreed to train and equip Afghan security forces. With US and NATO forces edging towards the exit in 2014, it follows that Delhi, the region's military and economic heavyweight and an aspiring superpower, should take up the strategic slack. But that is not how Pakistan or the Taliban will see the newly announced bilateral security, political and commercial ''partnership''. India may yet pay heavily for its presumption.
India's role, or ''meddling'', in Afghanistan is already viewed with enormous suspicion in Islamabad, which nurtures a visceral fear of encirclement arising from its bruising, losing wars with its southern neighbour. Pakistan privately regards Afghanistan as its own backyard, and is widely believed to fund and collude with terrorist groups in order to maintain its influence and keep the Kabul government weak.
''Pakistan has pursued a double game toward Afghanistan, and using terrorism as a means continues,'' Karzai complained this week before travelling to India. Pakistan - or at least elements of its security services - has been accused by Kabul of complicity in last month's murder of Burhanuddin Rabbani, the former Afghan president and peace talks negotiator.
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India, meanwhile, has detected Pakistan's hand in the bombing of its Kabul embassy in 2008 and 2009, as well as terrorist attacks on Indian soil. Pakistan denies all the allegations.
Demonstrating that he, too, can play both sides against the middle, Karzai offered reassurances that the partnership deal with India was not aimed at Islamabad. ''Pakistan is a twin brother, India is a great friend. The agreement that we signed yesterday with our friend will not affect our brother … the signing of the strategic partnership with India is not directed against any country. It is not directed against any other entity,'' he said.
Karzai's sudden attack of tact is not born of bonhomie. It reflects the political reality that a lasting settlement in Afghanistan is impossible without Pakistan's agreement, or at least acquiescence. Karzai's attempt to sweeten the pill may also reflect his desire to keep open the possibility of a negotiated settlement with the many-headed Taliban despite the continuing insurgent violence. The Taliban will not have forgotten India's backing of the non-Pashtun Northern Alliance in the 1990s, which eventually swept them from power in 2001 with US help. The idea of India playing an enhanced security role inside Afghanistan, as agreed in Delhi this week, is thus likely to be rejected by them as more unwelcome foreign interference. Karzai noted bitterly last week that if peace were ever to come to Afghanistan, his government needed to talk to Pakistan, not India or the US.
India has been expanding its involvement in Afghanistan since 2001, opening provincial consulates, embarking on infrastructure programs, and donating about $US2 billion in bilateral aid. But this week's agreement represents a substantial and risky increased commitment. Nobody in Delhi is talking about Indian troops or security forces on the ground in Afghanistan. But the Afghan forces training role India has accepted marks it out as NATO's successor, and potentially a target for insurgent wrath.
Manmohan Singh, India's prime minister, seemed to brush aside such concerns when he met Karzai. ''India will stand by the people of Afghanistan as they prepare to assume responsibility for governance and security after the withdrawal of international forces in 2014,'' Singh said. These are fateful words. They may come back to haunt the Indians.
India's leaders one day may come to rue their vainglorious generosity in picking up the hot potato that the US, Britain and the rest all gingerly dropped. It seems a high price to pay for outflanking Pakistan.
India's role, or ''meddling'', in Afghanistan is already viewed with enormous suspicion in Islamabad, which nurtures a visceral fear of encirclement arising from its bruising, losing wars with its southern neighbour. Pakistan privately regards Afghanistan as its own backyard, and is widely believed to fund and collude with terrorist groups in order to maintain its influence and keep the Kabul government weak.
''Pakistan has pursued a double game toward Afghanistan, and using terrorism as a means continues,'' Karzai complained this week before travelling to India. Pakistan - or at least elements of its security services - has been accused by Kabul of complicity in last month's murder of Burhanuddin Rabbani, the former Afghan president and peace talks negotiator.
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India, meanwhile, has detected Pakistan's hand in the bombing of its Kabul embassy in 2008 and 2009, as well as terrorist attacks on Indian soil. Pakistan denies all the allegations.
Demonstrating that he, too, can play both sides against the middle, Karzai offered reassurances that the partnership deal with India was not aimed at Islamabad. ''Pakistan is a twin brother, India is a great friend. The agreement that we signed yesterday with our friend will not affect our brother … the signing of the strategic partnership with India is not directed against any country. It is not directed against any other entity,'' he said.
Karzai's sudden attack of tact is not born of bonhomie. It reflects the political reality that a lasting settlement in Afghanistan is impossible without Pakistan's agreement, or at least acquiescence. Karzai's attempt to sweeten the pill may also reflect his desire to keep open the possibility of a negotiated settlement with the many-headed Taliban despite the continuing insurgent violence. The Taliban will not have forgotten India's backing of the non-Pashtun Northern Alliance in the 1990s, which eventually swept them from power in 2001 with US help. The idea of India playing an enhanced security role inside Afghanistan, as agreed in Delhi this week, is thus likely to be rejected by them as more unwelcome foreign interference. Karzai noted bitterly last week that if peace were ever to come to Afghanistan, his government needed to talk to Pakistan, not India or the US.
India has been expanding its involvement in Afghanistan since 2001, opening provincial consulates, embarking on infrastructure programs, and donating about $US2 billion in bilateral aid. But this week's agreement represents a substantial and risky increased commitment. Nobody in Delhi is talking about Indian troops or security forces on the ground in Afghanistan. But the Afghan forces training role India has accepted marks it out as NATO's successor, and potentially a target for insurgent wrath.
Manmohan Singh, India's prime minister, seemed to brush aside such concerns when he met Karzai. ''India will stand by the people of Afghanistan as they prepare to assume responsibility for governance and security after the withdrawal of international forces in 2014,'' Singh said. These are fateful words. They may come back to haunt the Indians.
India's leaders one day may come to rue their vainglorious generosity in picking up the hot potato that the US, Britain and the rest all gingerly dropped. It seems a high price to pay for outflanking Pakistan.
Friday, September 2, 2011
Russia begins trials of stealth frigate for Indian Navy
MOSCOW: Russia on Thursday commenced sea trials of the India Navy's first of the three advanced stealth frigates in the Baltic Sea and the first of these warships will be delivered by early next year.
'Teg', the frigate of the Project 11356, also known as Talwar Class, is first of the three frigates ordered by the Indian Navy in 2006 under a 1.5 billion dollar deal with Russia.
India Navy already operates three of these stealth frigates and had ordered three more to bolster its fleet.
The two other warships of the same class - the 'Tarkash' (Quiver) and the 'Trikand' (Bow) are at various stages of construction at the "Yantar" naval shipyard in Russia's Baltic exclave of Kaliningrad.
'Teg', the frigate of the Project 11356, also known as Talwar Class, is first of the three frigates ordered by the Indian Navy in 2006 under a 1.5 billion dollar deal with Russia.
India Navy already operates three of these stealth frigates and had ordered three more to bolster its fleet.
The two other warships of the same class - the 'Tarkash' (Quiver) and the 'Trikand' (Bow) are at various stages of construction at the "Yantar" naval shipyard in Russia's Baltic exclave of Kaliningrad.
Monday, August 1, 2011
Indian Navy moves to fast-track submarine acquisition plans
Indian Navy moves to fast-track submarine acquisition plans
New Delhi: The Indian Navy has appointed a senior officer to oversee and fast-track all submarine acquisition plans, even as it grapples with a depleting underwater force and rising levels of submarines in the inventories of nations inimical to Indian interests.
Rear admiral MT Moraes has been appointed as the new assistant chief of naval staff (submarines), a position in naval headquarters that is being revived after a long time.
He assumed command on Friday.
He will be replaced as flag officer (submarines) at Visakhapatnam by rear admiral Srikant.
With a rapidly depleting fleet, the Navy has to move fast to get its Project-75 India (P-75I) rolling at the earliest. The Rs50,000 crore P-75I programme envisages acquisition of six new stealth submarines, equipped with both tube-launched missiles for land-attack capabilities as well as AIP (air-independent propulsion) for enhanced underwater endurance.
Even as its older fleet of German HDW and Russian Kilo-class submarines approaches redundancy levels, the ongoing Rs23,562-crore project to build six French Scorpene submarines at the Mazagon Docks is running late by three years.
These submarines will phase into service only in the period 2015 and 2020, by which time it is estimated the Navy will be operating with a fleet level of just five out of its existing 10 Russian Kilo-class and four German HDW submarines.
Consequently, even with all six Scorpenes operational, India will still fall short of the minimum requirement of 18 conventional submarines required to deter arch-enemies Pakistan and China.
India is also set to get the Russian Akula-II class nuclear-powered submarine, K-152 Nerpa, to be rechristened INS Chakra, on a 10-year lease by November-December.
The INS Chakra will be joined in service by the indigenously developed 6,000-tonne nuclear submarine, INS Arihant.
Earlier, navy chief Admiral Nirmal Verma had announced India's nuclear weapon triad will be completed when INS Arihant goes on "deterrent patrols" next year.
The global tender or RFP (request for proposal) for the P-75I project will be floated towards end-2011 to vendors like Rosoboronexport (Russia), DCNS (France), HDW (Germany) and Navantia (Spain).
As of now, the plan is to directly import two submarines from a foreign collaborator, with the next three being built at Mazgaon Docks Ltd in Mumbai and the sixth at Hindustan Shipyard in Visakhapatnam under a transfer of technology programme.
New Delhi: The Indian Navy has appointed a senior officer to oversee and fast-track all submarine acquisition plans, even as it grapples with a depleting underwater force and rising levels of submarines in the inventories of nations inimical to Indian interests.
Rear admiral MT Moraes has been appointed as the new assistant chief of naval staff (submarines), a position in naval headquarters that is being revived after a long time.
He assumed command on Friday.
He will be replaced as flag officer (submarines) at Visakhapatnam by rear admiral Srikant.
With a rapidly depleting fleet, the Navy has to move fast to get its Project-75 India (P-75I) rolling at the earliest. The Rs50,000 crore P-75I programme envisages acquisition of six new stealth submarines, equipped with both tube-launched missiles for land-attack capabilities as well as AIP (air-independent propulsion) for enhanced underwater endurance.
Even as its older fleet of German HDW and Russian Kilo-class submarines approaches redundancy levels, the ongoing Rs23,562-crore project to build six French Scorpene submarines at the Mazagon Docks is running late by three years.
These submarines will phase into service only in the period 2015 and 2020, by which time it is estimated the Navy will be operating with a fleet level of just five out of its existing 10 Russian Kilo-class and four German HDW submarines.
Consequently, even with all six Scorpenes operational, India will still fall short of the minimum requirement of 18 conventional submarines required to deter arch-enemies Pakistan and China.
India is also set to get the Russian Akula-II class nuclear-powered submarine, K-152 Nerpa, to be rechristened INS Chakra, on a 10-year lease by November-December.
The INS Chakra will be joined in service by the indigenously developed 6,000-tonne nuclear submarine, INS Arihant.
Earlier, navy chief Admiral Nirmal Verma had announced India's nuclear weapon triad will be completed when INS Arihant goes on "deterrent patrols" next year.
The global tender or RFP (request for proposal) for the P-75I project will be floated towards end-2011 to vendors like Rosoboronexport (Russia), DCNS (France), HDW (Germany) and Navantia (Spain).
As of now, the plan is to directly import two submarines from a foreign collaborator, with the next three being built at Mazgaon Docks Ltd in Mumbai and the sixth at Hindustan Shipyard in Visakhapatnam under a transfer of technology programme.
Sunday, July 17, 2011
::PHP Developer: Required
::PHP Developer Required:: Jobs for PHP Developer
We at Trivia Softwares (http://www.triviasoftwares.com) we are looking for young and dynamic PHP developers with a good knowledge of developing projects in PHP.
Job Profile:
Develop projects in PHP and MySQL
Salary: Min 8,000/-
Above 20% increment on current CTC (For Experienced)
Please contact
TRIVIA Softwares
D2 Kolungade Estate,
Near Jagmata Shankar Temple
Kolbad Road, Kolbad
Thane (West) 400601
Ph: 91-22-2547 3930
Website: http://www.TRIVIASOFTWARES.com
Email: vaibhav.shete@triviasoftwares.com
We at Trivia Softwares (http://www.triviasoftwares.com) we are looking for young and dynamic PHP developers with a good knowledge of developing projects in PHP.
Job Profile:
Develop projects in PHP and MySQL
Salary: Min 8,000/-
Above 20% increment on current CTC (For Experienced)
Please contact
TRIVIA Softwares
D2 Kolungade Estate,
Near Jagmata Shankar Temple
Kolbad Road, Kolbad
Thane (West) 400601
Ph: 91-22-2547 3930
Website: http://www.TRIVIASOFTWARES.com
Email: vaibhav.shete@triviasoftwares.com
Monday, June 27, 2011
India's air travel growth spurs jet orders
Indian airlines walked away from the Paris Air Show with a third of the airplane orders last week -- a $23 billion gamble that air will finally conquer rail despite a formidable list of obstacles.
Malaysia's AirAsia (AIRA.KL) created most buzz with an historic 200-plane order. But its record for the world's largest deal by number of aircraft only just pipped that of Indian budget carrier IndiGo which finalized an order for 180 jets.
GoAir also placed what by any normal standards would have been an eye-catching order for 72 Airbus jets at $6.6 billion.
"It's been a frenzy in Paris with orders from India proving that the industry is in pretty good shape...It's all part of the continuing shift in economic power from west to east," said BGC Partners senior strategist Howard Wheeldon.
India's airlines have orders worth $40 billion in the pipeline, but analysts say their ability to pull through to taking delivery could be tested by high fuel taxes, poor infrastructure, debt and frequently rising interest rates.
"As of today it seems far fetched that they need so many aircraft because India does not have infrastructure to handle this," said Kishor Ostwal, chairman of Mumbai's CNI Research.
"We have to see if we can have the infrastructure to support another 300 to 400 aircraft in coming years. Even today airlines in key metro routes do not get slots to land in time and this pushes up operating costs further," Ostwal added.
There have been improvements, such as the country's longest elevated expressway linking the congested city of Hyderabad to its airport. But analysts say there is much work ahead.
Connectivity remains inadequate through much of India, and airport infrastructure is non-existent in many smaller cities.
Still, airlines are growing their fleets as demand booms in India, where an economy growing at nearly 9 percent is spurring business travel and a burgeoning middle class long accustomed to travelling by rail is now increasingly opting for air. And with a population of over a billion, India does need more planes.
"At the beginning of 2000, there were 100 large passenger aircraft in India for 1 billion people; now there are 300 aircraft for 1.2 billion. The ratio is extremely small," said Kiran Rao, executive vice president for sales at Airbus. Over the same period the backlog of airplanes on order has exploded from just 12 in 2000 to well over 500 after the show.
By contrast, China, which is itself poised for dramatic growth, starts off with 1,400 large jets for 1.3 billion people.
India's largest private carrier Jet Airways (JET.NS), state-run Air India and low-cost carrier SpiceJet (SPJT.BO) have over $12 billion worth of orders, with more in the pipeline.
OVERSEAS LOANS
Indian carriers, whose fares are usually comparable to U.S. prices, are cutting fares to compete with railways, which enjoy a far more comprehensive infrastructure network, covering much of India, and have offered a cheaper way of travel for decades.
Indians have the lowest propensity to travel by air of the BRIC countries, making less than 0.1 trips per capita in 2009, on a par with Belarus and Senegal, according to Airbus data.
With statistics like these, it is no surprise that India's domestic network is expected to generate the world's fastest air traffic growth over 20 years. Airbus (EAD.PA) expects domestic travel to grow on average 9.2 percent over the next two decades.
Boeing (BA.N) sees average annual traffic growth of 9.4 percent between 2010 and 2030 in South Asia.
To feed this demand, India is estimated to need about 1,100 commercial jets worth up to $130 billion over the next 20 years, representing about 4 percent of the worldwide forecast for commercial airplanes, according to Deloitte aerospace analysts.
Plane manufacturers like Airbus are making a strong push to tap that market. Indeed the Indian market is one of the key drivers behind its decision to upgrade its A320 jet with new engines and slanted wingtips reducing fuel burn by 15 percent.
"If ever a country needed an aircraft like the A320neo it is India. Airlines are taxed at 35 percent for their fuel, sometimes up to 50 percent depending on the state," said Rao.
Manufacturers have also leaped in to help address pilot shortages which threatened to stymie the industry's growth, providing help with training and recruiting.
Yet even without poor logistics there are funding concerns.
Borrowing in the capital-intensive industry has become increasingly difficult in India, where the government has raised interest rates ten times since March 2010 to combat inflation.
"There is no way airlines can get loans of this magnitude in the country. So they have to go for overseas loans as it does not make sense to borrow at 12 or 13 percent," Arun Kejriwal, director at research firm KRIS, said.
The top three carriers -- Air India, Jet Airways and Kingfisher -- already have more than $12 billion of debt. Lenders now own nearly 30 percent of Kingfisher (KING.NS).
On the positive side, India has joined the 2004 Cape Town Convention which makes it easier for foreign creditos or lessors to recover aircraft and engines if an airline gets into trouble.
The absence of such guarantees had hampered the aircraft leasing industry, which is a key source of finance for airlines.
"Although airlines in India have a large order pipeline, funding would still be an issue. They may look for private equity players," Nidhi Goyal, Director at Deloitte India, said. * TAKE A LOOK - Paris Air Show 2001 (Additional reporting by Matthias Blamont, James Regan and Aniruddha Basu; editing by Sophie Walker)
Malaysia's AirAsia (AIRA.KL) created most buzz with an historic 200-plane order. But its record for the world's largest deal by number of aircraft only just pipped that of Indian budget carrier IndiGo which finalized an order for 180 jets.
GoAir also placed what by any normal standards would have been an eye-catching order for 72 Airbus jets at $6.6 billion.
"It's been a frenzy in Paris with orders from India proving that the industry is in pretty good shape...It's all part of the continuing shift in economic power from west to east," said BGC Partners senior strategist Howard Wheeldon.
India's airlines have orders worth $40 billion in the pipeline, but analysts say their ability to pull through to taking delivery could be tested by high fuel taxes, poor infrastructure, debt and frequently rising interest rates.
"As of today it seems far fetched that they need so many aircraft because India does not have infrastructure to handle this," said Kishor Ostwal, chairman of Mumbai's CNI Research.
"We have to see if we can have the infrastructure to support another 300 to 400 aircraft in coming years. Even today airlines in key metro routes do not get slots to land in time and this pushes up operating costs further," Ostwal added.
There have been improvements, such as the country's longest elevated expressway linking the congested city of Hyderabad to its airport. But analysts say there is much work ahead.
Connectivity remains inadequate through much of India, and airport infrastructure is non-existent in many smaller cities.
Still, airlines are growing their fleets as demand booms in India, where an economy growing at nearly 9 percent is spurring business travel and a burgeoning middle class long accustomed to travelling by rail is now increasingly opting for air. And with a population of over a billion, India does need more planes.
"At the beginning of 2000, there were 100 large passenger aircraft in India for 1 billion people; now there are 300 aircraft for 1.2 billion. The ratio is extremely small," said Kiran Rao, executive vice president for sales at Airbus. Over the same period the backlog of airplanes on order has exploded from just 12 in 2000 to well over 500 after the show.
By contrast, China, which is itself poised for dramatic growth, starts off with 1,400 large jets for 1.3 billion people.
India's largest private carrier Jet Airways (JET.NS), state-run Air India and low-cost carrier SpiceJet (SPJT.BO) have over $12 billion worth of orders, with more in the pipeline.
OVERSEAS LOANS
Indian carriers, whose fares are usually comparable to U.S. prices, are cutting fares to compete with railways, which enjoy a far more comprehensive infrastructure network, covering much of India, and have offered a cheaper way of travel for decades.
Indians have the lowest propensity to travel by air of the BRIC countries, making less than 0.1 trips per capita in 2009, on a par with Belarus and Senegal, according to Airbus data.
With statistics like these, it is no surprise that India's domestic network is expected to generate the world's fastest air traffic growth over 20 years. Airbus (EAD.PA) expects domestic travel to grow on average 9.2 percent over the next two decades.
Boeing (BA.N) sees average annual traffic growth of 9.4 percent between 2010 and 2030 in South Asia.
To feed this demand, India is estimated to need about 1,100 commercial jets worth up to $130 billion over the next 20 years, representing about 4 percent of the worldwide forecast for commercial airplanes, according to Deloitte aerospace analysts.
Plane manufacturers like Airbus are making a strong push to tap that market. Indeed the Indian market is one of the key drivers behind its decision to upgrade its A320 jet with new engines and slanted wingtips reducing fuel burn by 15 percent.
"If ever a country needed an aircraft like the A320neo it is India. Airlines are taxed at 35 percent for their fuel, sometimes up to 50 percent depending on the state," said Rao.
Manufacturers have also leaped in to help address pilot shortages which threatened to stymie the industry's growth, providing help with training and recruiting.
Yet even without poor logistics there are funding concerns.
Borrowing in the capital-intensive industry has become increasingly difficult in India, where the government has raised interest rates ten times since March 2010 to combat inflation.
"There is no way airlines can get loans of this magnitude in the country. So they have to go for overseas loans as it does not make sense to borrow at 12 or 13 percent," Arun Kejriwal, director at research firm KRIS, said.
The top three carriers -- Air India, Jet Airways and Kingfisher -- already have more than $12 billion of debt. Lenders now own nearly 30 percent of Kingfisher (KING.NS).
On the positive side, India has joined the 2004 Cape Town Convention which makes it easier for foreign creditos or lessors to recover aircraft and engines if an airline gets into trouble.
The absence of such guarantees had hampered the aircraft leasing industry, which is a key source of finance for airlines.
"Although airlines in India have a large order pipeline, funding would still be an issue. They may look for private equity players," Nidhi Goyal, Director at Deloitte India, said. * TAKE A LOOK - Paris Air Show 2001 (Additional reporting by Matthias Blamont, James Regan and Aniruddha Basu; editing by Sophie Walker)
Saturday, May 28, 2011
::IPL 2011:: Royal Challengers Bangalore Beat Mumbai Indians
Royal Challengers Bangalore have beaten Mumbai Indians in the 2nd Semi Finals of IPL 2011.
Saturday, May 7, 2011
7 Asian nations = 45% global GDP by 2050
7 Asian nations = 45% global GDP by 2050
The engines of Asia's re-emergence - India, China and five other economies -- will account for 45 per cent of the global GDP by 2050, according to a report by the Asian Development Bank (ADB).
"Asia's rise will be led by China, India, Indonesia, Japan, the Republic of Korea, Malaysia, and Thailand," the ADB's report, 'Asia 2050 - Realising the Asian Century', said.
In 2010, these seven economies had a combined total population of 3.1 billion, or 78 per cent of Asia, and a GDP of $14.2 trillion.
"These seven economies alone will account for 45 per cent of the global GDP," the report said.
The report compares the potential outcomes for Asia under two competing scenarios - the 'Asian Century' and the 'Middle Income Trap'.
In the more optimistic Asian Century scenario, the region's gross domestic product (GDP) would soar to $148 trillion and account for 51 per cent of global output in 2050.
On a purchasing power parity basis, GDP per capita in Asia would rise to $ 45,800, compared with the projected 2050 global average of $ 36,600, as per the report.
It said that by the middle of this century, an additional three billion Asians could enjoy higher living standards, but only "if Asia sustains its present growth momentum".
The report released on the second day of ADB's annual meeting further said that as the global economy's centre of gravity shifts toward Asia, the region could account for about half of global output in 2050, up from the current 27 per cent.
Asia is also likely to contribute half of global trade and investment. The report, however, cautioned that major Asian economies should ensure they do not fall into the middle-income trap, which could inhibit the growth of emerging markets.
The alternative scenario assumes that Asia's fast-growing economies "China, India, Indonesia, and Vietnam will fall into the middle income trap" of slowing growth rates and stagnating income levels over the next 5 to 10 years, it said.
If these events occur, Asia would account for only 32 per cent, or $ 61 trillion, of the global GDP in 2050, it said.
The engines of Asia's re-emergence - India, China and five other economies -- will account for 45 per cent of the global GDP by 2050, according to a report by the Asian Development Bank (ADB).
"Asia's rise will be led by China, India, Indonesia, Japan, the Republic of Korea, Malaysia, and Thailand," the ADB's report, 'Asia 2050 - Realising the Asian Century', said.
In 2010, these seven economies had a combined total population of 3.1 billion, or 78 per cent of Asia, and a GDP of $14.2 trillion.
"These seven economies alone will account for 45 per cent of the global GDP," the report said.
The report compares the potential outcomes for Asia under two competing scenarios - the 'Asian Century' and the 'Middle Income Trap'.
In the more optimistic Asian Century scenario, the region's gross domestic product (GDP) would soar to $148 trillion and account for 51 per cent of global output in 2050.
On a purchasing power parity basis, GDP per capita in Asia would rise to $ 45,800, compared with the projected 2050 global average of $ 36,600, as per the report.
It said that by the middle of this century, an additional three billion Asians could enjoy higher living standards, but only "if Asia sustains its present growth momentum".
The report released on the second day of ADB's annual meeting further said that as the global economy's centre of gravity shifts toward Asia, the region could account for about half of global output in 2050, up from the current 27 per cent.
Asia is also likely to contribute half of global trade and investment. The report, however, cautioned that major Asian economies should ensure they do not fall into the middle-income trap, which could inhibit the growth of emerging markets.
The alternative scenario assumes that Asia's fast-growing economies "China, India, Indonesia, and Vietnam will fall into the middle income trap" of slowing growth rates and stagnating income levels over the next 5 to 10 years, it said.
If these events occur, Asia would account for only 32 per cent, or $ 61 trillion, of the global GDP in 2050, it said.
Tuesday, May 3, 2011
U.S. ally in hot seat after bin Laden found in Pakistani army town
U.S. ally in hot seat after bin Laden found in Pakistani army town
U.S. officials have left little doubt that they did not sufficiently trust their counterparts in Pakistan to keep quiet on the plan to send a team of U.S. special forces and CIA operatives into the country on Sunday to kill Osama bin Laden. And now that the whole world knows U.S. forces found and killed bin Laden in a large, conspicuously fortified compound in an affluent Pakistani military town less than forty miles from the Pakistani capital of Islamabad, American officials are likewise making it clear that they don't fully buy the Pakistani government's see-no-evil line on bin Laden's whereabouts. It's hard for Pakistani military leaders in particular to make a credible case that they were shocked--shocked!--to learn bin Laden was right there under their noses; the Paksitani army, after all, has a college in Abbottabad only a few hundred feet from the compound where bin Laden was found and killed.
"It's inconceivable that Bin Laden did not have a support system inside the country," White House counter-terrorism adviser John Brennan told journalists at the White House press conference Monday.
Bin Laden's "presence outside the capital raises questions we are discussing with Pakistani officials," he said. But Pakistani officials profess themselves to be "as surprised as we were that bin Laden was holding out in that area," he added.
In other words--gimme a break.
Of course, the official line in Pakistan is that the country has been a loyal and energetic ally for the United States in the struggle against Islamist terrorism. In an op-ed in Tuesday's Washington Post, Pakistani President Asif Ali Zardari contended that while Pakistani officials did not take part in the raid on the bin Laden compound, the action nonetheless arose out of "a decade of co-operation and partnership between Pakistan and the United States." He also noted that"we in Pakistan take some satisfaction that our early assistance in identifying an al-Qaeda courier ultimately led to this day."
The U.S. version of events doesn't reflect nearly as well on the Pakistani military. In revisiting the highly classified commando operation for reporters, Brennan pointedly reiterated the degree to which American officials kept their Pakistani counterparts out of the loop about the details of its execution. To carry out the 40 minute raid, Brennan explained, U.S. military planners had to take pains to move in and out of the country without having to shoot at Pakistani military forces:
"We were watching to make sure we could get out of Pakistani air space and to minimize the prospect of engagement with Pakistani forces," Brennan described. "No Pakistani forces were engaged. There were no forces killed aside from those on the compound."
Welcome, in other words, to the twilight zone alliance between the United States and Pakistan: alleged allies who sometimes seem to be double-crossing enemies--or what American high school students would call frenemies.
But Brennan's further comments also explain why the U.S.-Pakistani alliance, for all its "ambiguity," mutual secrets, and occasionally covert but sometimes outright armed hostility, is one that neither country can live without.
"I will point out, that while we have had differences of view on counterterrorism cooperation on what we think they should and should not be doing, Pakistan has been responsible for capturing and killing more terrorists than any other country and by a wide margin," Brennan said. "And many Pakistanis have given their lives ... Although there are some differences of views, we believe our partnership is critically important to breaking the back of al Qaeda."
So why do elements of the Pakistani security services persist in supporting the jihadi terrorists trying to kill U.S.-led forces in Afghanistan and Afghans? And why can't the United States just declare Pakistan a hostile enemy, if that's how significant reaches of Pakistani officialdom are behaving?
There is no simple answer--but the basic truth here is that the United States would be in far worse shape without even the highly imperfect Pakistani government cooperation American officials are now getting. For all the shortcomings of the current U.S.-Pakistani alliance, it would be far worse for the United States to be confronting an openly hostile South Asian terrorist-backing state that has the fastest growing nuclear arsenal in the world and a bitter ongoing fixation on the ambitions of neighboring rival India.
Still, the U.S. discovery of bin Laden in a million dollar, highly fortified compound in the Pakistani military town of Abbottabad, population 90,000, on property only a few hundred feet from major Pakistani military installations, is certainly bringing out into the open what has more often been discussed behind closed doors between U.S. and Pakistani spy chiefs and generals.
"There's no question that once dust settles a little bit that Pakistan is going to be brought under a very harsh light," said former Deputy Secretary of State Richard Armitage, who has worked closely with Pakistani civilian and military leaders. "It's not credible that this could guy could live as close to the Pakistani equivalent of Sandhurst"--the elite British military training school--"and someone in Pakistani intelligence did not see outside his villa. That raises questions of its own."
While "it puts a harsher spotlight on Pakistan, it does not however relieve the U.S. of the need to try to work with Pakistan in particular for the betterment of Afghanistan," Armitage added.
"In the short run, this has the potential to make U.S.-Pakistan relations even worse," said Daniel Markey, a South Asian expert with the Council on Foreign Relations. "It is an embarrassment for Pakistan's military and intelligence, given the location, and it follows on the heels of these other 'violations of Pakistani territorial sovereignty'--drones, [CIA contractor] Raymond Davis. From our perspective, it is just more evidence that the Pakistanis are either too incompetent or too complicit to be good partners."
Markey mused there could be a potential silver lining in Osama's killing--but only "if it helps to convince Pakistan's leaders that the United States has the will, capacity, and commitment to go after its enemies and that Pakistan ought not to continue to be an active (or even passive) supporter for these groups."
Gretchen Peters, the former ABC News bureau chief in Pakistan and author of Seeds of Terror: How Heroin Is Bankrolling the Taliban and al Qaeda, said that the current Pakistan dilemma stems from the 1980s. Back then, she explains, Pakistani security and intelligence services forged training and strategic ties with jihadi groups sent over to fight proxy wars against the Soviet forces in Afghanistan (with covert U.S. support), as well as in India in Kashmir. Those formative alliances only strengthened over time--and now, Peters notes, they're very hard for Pakistan to break.
Abbottabad, the town where bin Laden was found, "is one of these places in Pakistan where militancy and the [Pakistani] military are in close proximity," Peters said. Indeed, she notes, it's close to other Pakistani towns that formerly housed mujahadeen and other jihadi group training camps since the '80s.
Peters added she always expected that bin Laden would be "found in a well-guarded compound in a [Pakistani] city, not in a cave." Why? "Because it is easier to hide in places like that," she said.
The compound where bin Laden was discovered is in a relatively new, private military development in Abbottabad, that was built in 2005.
While U.S. officials have not publicly identified the al Qaeda courier they tracked in order to find bin Laden, the Weekly Standard's Thomas Joscelyn reported that a recently leaked U.S. military cable from the detention facility at Guantanamo Bay names an al Qaeda courier close to bin Laden--Maulawi Abd al-Khaliq Jan--who seems to fits the description provided by U.S. officials. The Associated Press reported that the courier is Kuwaiti.
U.S. security officials said they were "shocked" at the conspicuously over-the-top security features of the sprawling compound in the affluent development when they saw it--including 12-18 foot fortification walls topped by barbed wire, a property size roughly eight times larger than others in the area, trash from the compound burnt inside rather than put on the street for collection. Particularly striking for a property they valued at a million dollars, they noted, the facility had no phone lines or Internet connections.
But Peters said that while the specifications are perhaps more extreme, "there are lots of [thick-walled, fortified] houses like that in Pakistan. It's much easier to hide in a [newer development] community like that where the neighbors don't actually know each other than in a small village where the entire village knows each other."
Several major al Qaeda figures have been arrested by Pakistani authorities since 9/11--including Ramzi bin al-Shibh in a Karachi apartment building, Abu Zubaydah in Faisalbad, 9/11 mastermind Khalid Shaikh Mohammad, in Rawalpindi or Quetta (depending on who you ask).
It's that sort of cooperation that Brennan praised in his remarks Monday, while making clear the United States is not going to endlessly accept Pakistani excuses for turning a blind eye to forces within its own security structure providing support to the terrorists killing Americans. After all, Brennan notes, such forces are also killing Pakistani citizens.
"The president feels very strongly that the people of Pakistan need to realize their potential for lives of prosperity and security," Brennan said. "And because of the militant organizations in that country, too many Pakistanis have died."
U.S. officials have left little doubt that they did not sufficiently trust their counterparts in Pakistan to keep quiet on the plan to send a team of U.S. special forces and CIA operatives into the country on Sunday to kill Osama bin Laden. And now that the whole world knows U.S. forces found and killed bin Laden in a large, conspicuously fortified compound in an affluent Pakistani military town less than forty miles from the Pakistani capital of Islamabad, American officials are likewise making it clear that they don't fully buy the Pakistani government's see-no-evil line on bin Laden's whereabouts. It's hard for Pakistani military leaders in particular to make a credible case that they were shocked--shocked!--to learn bin Laden was right there under their noses; the Paksitani army, after all, has a college in Abbottabad only a few hundred feet from the compound where bin Laden was found and killed.
"It's inconceivable that Bin Laden did not have a support system inside the country," White House counter-terrorism adviser John Brennan told journalists at the White House press conference Monday.
Bin Laden's "presence outside the capital raises questions we are discussing with Pakistani officials," he said. But Pakistani officials profess themselves to be "as surprised as we were that bin Laden was holding out in that area," he added.
In other words--gimme a break.
Of course, the official line in Pakistan is that the country has been a loyal and energetic ally for the United States in the struggle against Islamist terrorism. In an op-ed in Tuesday's Washington Post, Pakistani President Asif Ali Zardari contended that while Pakistani officials did not take part in the raid on the bin Laden compound, the action nonetheless arose out of "a decade of co-operation and partnership between Pakistan and the United States." He also noted that"we in Pakistan take some satisfaction that our early assistance in identifying an al-Qaeda courier ultimately led to this day."
The U.S. version of events doesn't reflect nearly as well on the Pakistani military. In revisiting the highly classified commando operation for reporters, Brennan pointedly reiterated the degree to which American officials kept their Pakistani counterparts out of the loop about the details of its execution. To carry out the 40 minute raid, Brennan explained, U.S. military planners had to take pains to move in and out of the country without having to shoot at Pakistani military forces:
"We were watching to make sure we could get out of Pakistani air space and to minimize the prospect of engagement with Pakistani forces," Brennan described. "No Pakistani forces were engaged. There were no forces killed aside from those on the compound."
Welcome, in other words, to the twilight zone alliance between the United States and Pakistan: alleged allies who sometimes seem to be double-crossing enemies--or what American high school students would call frenemies.
But Brennan's further comments also explain why the U.S.-Pakistani alliance, for all its "ambiguity," mutual secrets, and occasionally covert but sometimes outright armed hostility, is one that neither country can live without.
"I will point out, that while we have had differences of view on counterterrorism cooperation on what we think they should and should not be doing, Pakistan has been responsible for capturing and killing more terrorists than any other country and by a wide margin," Brennan said. "And many Pakistanis have given their lives ... Although there are some differences of views, we believe our partnership is critically important to breaking the back of al Qaeda."
So why do elements of the Pakistani security services persist in supporting the jihadi terrorists trying to kill U.S.-led forces in Afghanistan and Afghans? And why can't the United States just declare Pakistan a hostile enemy, if that's how significant reaches of Pakistani officialdom are behaving?
There is no simple answer--but the basic truth here is that the United States would be in far worse shape without even the highly imperfect Pakistani government cooperation American officials are now getting. For all the shortcomings of the current U.S.-Pakistani alliance, it would be far worse for the United States to be confronting an openly hostile South Asian terrorist-backing state that has the fastest growing nuclear arsenal in the world and a bitter ongoing fixation on the ambitions of neighboring rival India.
Still, the U.S. discovery of bin Laden in a million dollar, highly fortified compound in the Pakistani military town of Abbottabad, population 90,000, on property only a few hundred feet from major Pakistani military installations, is certainly bringing out into the open what has more often been discussed behind closed doors between U.S. and Pakistani spy chiefs and generals.
"There's no question that once dust settles a little bit that Pakistan is going to be brought under a very harsh light," said former Deputy Secretary of State Richard Armitage, who has worked closely with Pakistani civilian and military leaders. "It's not credible that this could guy could live as close to the Pakistani equivalent of Sandhurst"--the elite British military training school--"and someone in Pakistani intelligence did not see outside his villa. That raises questions of its own."
While "it puts a harsher spotlight on Pakistan, it does not however relieve the U.S. of the need to try to work with Pakistan in particular for the betterment of Afghanistan," Armitage added.
"In the short run, this has the potential to make U.S.-Pakistan relations even worse," said Daniel Markey, a South Asian expert with the Council on Foreign Relations. "It is an embarrassment for Pakistan's military and intelligence, given the location, and it follows on the heels of these other 'violations of Pakistani territorial sovereignty'--drones, [CIA contractor] Raymond Davis. From our perspective, it is just more evidence that the Pakistanis are either too incompetent or too complicit to be good partners."
Markey mused there could be a potential silver lining in Osama's killing--but only "if it helps to convince Pakistan's leaders that the United States has the will, capacity, and commitment to go after its enemies and that Pakistan ought not to continue to be an active (or even passive) supporter for these groups."
Gretchen Peters, the former ABC News bureau chief in Pakistan and author of Seeds of Terror: How Heroin Is Bankrolling the Taliban and al Qaeda, said that the current Pakistan dilemma stems from the 1980s. Back then, she explains, Pakistani security and intelligence services forged training and strategic ties with jihadi groups sent over to fight proxy wars against the Soviet forces in Afghanistan (with covert U.S. support), as well as in India in Kashmir. Those formative alliances only strengthened over time--and now, Peters notes, they're very hard for Pakistan to break.
Abbottabad, the town where bin Laden was found, "is one of these places in Pakistan where militancy and the [Pakistani] military are in close proximity," Peters said. Indeed, she notes, it's close to other Pakistani towns that formerly housed mujahadeen and other jihadi group training camps since the '80s.
Peters added she always expected that bin Laden would be "found in a well-guarded compound in a [Pakistani] city, not in a cave." Why? "Because it is easier to hide in places like that," she said.
The compound where bin Laden was discovered is in a relatively new, private military development in Abbottabad, that was built in 2005.
While U.S. officials have not publicly identified the al Qaeda courier they tracked in order to find bin Laden, the Weekly Standard's Thomas Joscelyn reported that a recently leaked U.S. military cable from the detention facility at Guantanamo Bay names an al Qaeda courier close to bin Laden--Maulawi Abd al-Khaliq Jan--who seems to fits the description provided by U.S. officials. The Associated Press reported that the courier is Kuwaiti.
U.S. security officials said they were "shocked" at the conspicuously over-the-top security features of the sprawling compound in the affluent development when they saw it--including 12-18 foot fortification walls topped by barbed wire, a property size roughly eight times larger than others in the area, trash from the compound burnt inside rather than put on the street for collection. Particularly striking for a property they valued at a million dollars, they noted, the facility had no phone lines or Internet connections.
But Peters said that while the specifications are perhaps more extreme, "there are lots of [thick-walled, fortified] houses like that in Pakistan. It's much easier to hide in a [newer development] community like that where the neighbors don't actually know each other than in a small village where the entire village knows each other."
Several major al Qaeda figures have been arrested by Pakistani authorities since 9/11--including Ramzi bin al-Shibh in a Karachi apartment building, Abu Zubaydah in Faisalbad, 9/11 mastermind Khalid Shaikh Mohammad, in Rawalpindi or Quetta (depending on who you ask).
It's that sort of cooperation that Brennan praised in his remarks Monday, while making clear the United States is not going to endlessly accept Pakistani excuses for turning a blind eye to forces within its own security structure providing support to the terrorists killing Americans. After all, Brennan notes, such forces are also killing Pakistani citizens.
"The president feels very strongly that the people of Pakistan need to realize their potential for lives of prosperity and security," Brennan said. "And because of the militant organizations in that country, too many Pakistanis have died."
Friday, April 29, 2011
Rupee up by 4 paise against U.S. dollar in early trade
Rupee up by 4 paise against U.S. dollar in early trade
The Indian rupee moved up by 4 paise to 44.39 per U.S. dollar in early trade on Friday on fresh selling of the American currency by banks and exporters in view of the persistent fall of the dollar in overseas markets.
At the Interbank Foreign Exchange, the domestic currency opened steady at 44.43/44 per dollar, but moved up to 44.39 per dollar before quoting at 44.41/42 at 1030 hours.
It moved in a range between 44.39 and 44.47 in morning deals.
Banks and exporters preferred to reduce their dollar positions on the back of the sustained fall of the dollar in the New York market, a forex dealer said.
The U.S. Dollar fell for the sixth straight day yesterday in the New York market, as stocks inched up and gave currency traders more reason to shift out of perceived safe havens.
The Indian rupee moved up by 4 paise to 44.39 per U.S. dollar in early trade on Friday on fresh selling of the American currency by banks and exporters in view of the persistent fall of the dollar in overseas markets.
At the Interbank Foreign Exchange, the domestic currency opened steady at 44.43/44 per dollar, but moved up to 44.39 per dollar before quoting at 44.41/42 at 1030 hours.
It moved in a range between 44.39 and 44.47 in morning deals.
Banks and exporters preferred to reduce their dollar positions on the back of the sustained fall of the dollar in the New York market, a forex dealer said.
The U.S. Dollar fell for the sixth straight day yesterday in the New York market, as stocks inched up and gave currency traders more reason to shift out of perceived safe havens.
Tuesday, April 19, 2011
Tax notice to Kings XI Punjab
Tax notice to Kings XI Punjab
Indian Premier League [ Images ] team Kings XI Punjab [ Images ] was issued a notice for non-payment of entertainment duty, which it owed for the first match of the fourth edition of the Indian Premier League, played at the PCA stadium in Mohali on April 13.
Also, the franchise team was not yet accorded mandatory permission for the stock, sale and service of liquor for the remaining three fixtures slated here for April 21, May 8 and 10.
After the KXIP failed to deposit the requisite entertainment duty even five days after the first match, the Excise and Taxation department issued a notice on Monday to its management asking to submit the details of the tickets sold and revenue generated and pay the requisite entertainment duty at the rate of 25 per cent of the total income.
Assistant Excise and Taxation Commissioner (AETC) Baldeep Kaur has directed the team management to deposit the levy without any further delay, failing which action under Land Revenue Act would be initiated against the organisers for recovery of entertainment duty arrears.
Confirming the development, Kaur said that the application of the KXIP seeking permission for the rest of three matches was still under consideration and a decision will be taken shortly after taking into account the terms and conditions followed during the first match.
Though the home team had initially sought permission for all the four matches to be held here but the permission was accorded only for the first game, that also on the condition that the permission for the other three would be given after checking the compliance of terms and conditions during the first match.
The franchise had paid Rs 56,32,314 on account of entertainment duty payable on the income from sale of tickets during the IPL season III for two matches played here on April 2 and 9, 2010, to procure the permission for IPL season IV matches.
However, the KXIP had been waived off almost Rs 2 crore entertainment duty, which they owed for the matches played before March 31, 2010.
Indian Premier League [ Images ] team Kings XI Punjab [ Images ] was issued a notice for non-payment of entertainment duty, which it owed for the first match of the fourth edition of the Indian Premier League, played at the PCA stadium in Mohali on April 13.
Also, the franchise team was not yet accorded mandatory permission for the stock, sale and service of liquor for the remaining three fixtures slated here for April 21, May 8 and 10.
After the KXIP failed to deposit the requisite entertainment duty even five days after the first match, the Excise and Taxation department issued a notice on Monday to its management asking to submit the details of the tickets sold and revenue generated and pay the requisite entertainment duty at the rate of 25 per cent of the total income.
Assistant Excise and Taxation Commissioner (AETC) Baldeep Kaur has directed the team management to deposit the levy without any further delay, failing which action under Land Revenue Act would be initiated against the organisers for recovery of entertainment duty arrears.
Confirming the development, Kaur said that the application of the KXIP seeking permission for the rest of three matches was still under consideration and a decision will be taken shortly after taking into account the terms and conditions followed during the first match.
Though the home team had initially sought permission for all the four matches to be held here but the permission was accorded only for the first game, that also on the condition that the permission for the other three would be given after checking the compliance of terms and conditions during the first match.
The franchise had paid Rs 56,32,314 on account of entertainment duty payable on the income from sale of tickets during the IPL season III for two matches played here on April 2 and 9, 2010, to procure the permission for IPL season IV matches.
However, the KXIP had been waived off almost Rs 2 crore entertainment duty, which they owed for the matches played before March 31, 2010.
Indian firms make a profit of Rs 6 lakh per employee
Indian firms make a profit of Rs 6 lakh per employee
According to a new survey by PricewaterhouseCoopers, Indian companies pay a salary of Rs 4.8 lakh (Rs 480,000) to each of their employee on an average, and earn a profit of Rs 6 lakh (Rs 600,000) per employee in return.
According to the study, Measuring Human Capital: Driving Business Results, organisations in India pay an average remuneration of Rs 4.8 lakh and earn Rs 6 lakh of profit per employee, which makes the human capital return ratio on investment to 1.79 for organisations in the country.
Besides, companies make an investment of Rs 7,000 on learning and development (L&D) per employee.
It further said that Indian companies make a pure profit of Rs 15 from every Rs 100-worth revenue generated by their each employee.
"With India being the fastest growing economy, organisations that would maximise their human capital contribution to business performance, would be the ones to best leverage the positive economic environment," PwC India, leader, people and change practice, Sankar Ramamurthy said.
Among sectors, engineering and manufacturing generate the most revenue and profits per employee followed by fast moving consumer goods and pharmaceutical space.
Moreover, organisations with higher revenue base incur 1.3 times higher cost per employee but also earn 1.4 times higher profit per employee organisations compared with lower revenue base companies.
The report, which is based on a survey of 37 firms across different sectors noted that Indian organisations spend about Rs 25,500 per hire on an average.
However, FMCG and other unclassified sectors spend more than double the amount towards their recruitment. This could be because of the high cost of their recruitment teams.
The report further said that information technology and information technology enabled services (IT/ITeS) sector recruits the highest number of graduates, but when it comes to retaining entry level talent, engineering and manufacturing sector leads the industry.
IT/ITeS, which has the lowest spend on L&D per employee, witness the highest termination and resignation rate as well.
According to a new survey by PricewaterhouseCoopers, Indian companies pay a salary of Rs 4.8 lakh (Rs 480,000) to each of their employee on an average, and earn a profit of Rs 6 lakh (Rs 600,000) per employee in return.
According to the study, Measuring Human Capital: Driving Business Results, organisations in India pay an average remuneration of Rs 4.8 lakh and earn Rs 6 lakh of profit per employee, which makes the human capital return ratio on investment to 1.79 for organisations in the country.
Besides, companies make an investment of Rs 7,000 on learning and development (L&D) per employee.
It further said that Indian companies make a pure profit of Rs 15 from every Rs 100-worth revenue generated by their each employee.
"With India being the fastest growing economy, organisations that would maximise their human capital contribution to business performance, would be the ones to best leverage the positive economic environment," PwC India, leader, people and change practice, Sankar Ramamurthy said.
Among sectors, engineering and manufacturing generate the most revenue and profits per employee followed by fast moving consumer goods and pharmaceutical space.
Moreover, organisations with higher revenue base incur 1.3 times higher cost per employee but also earn 1.4 times higher profit per employee organisations compared with lower revenue base companies.
The report, which is based on a survey of 37 firms across different sectors noted that Indian organisations spend about Rs 25,500 per hire on an average.
However, FMCG and other unclassified sectors spend more than double the amount towards their recruitment. This could be because of the high cost of their recruitment teams.
The report further said that information technology and information technology enabled services (IT/ITeS) sector recruits the highest number of graduates, but when it comes to retaining entry level talent, engineering and manufacturing sector leads the industry.
IT/ITeS, which has the lowest spend on L&D per employee, witness the highest termination and resignation rate as well.
Thursday, April 14, 2011
BRICS powers criticise Western strikes in Libya - source
BRICS powers criticise Western strikes in Libya - source
SANYA, China (Reuters) - Leaders from the five "BRICS" emerging powers joined in criticising the Western air campaign in Libya, a government source at the summit said on Thursday, when Brazil, Russia , India, China and South Africa met in southern China.
"They all condemned the bombings," said a government source who participated in the meeting of the BRICS country leaders. The source said the leaders voiced concern about the effects of the air strikes on Libyan civilians.
The source spoke on condition that his country not be identified.
He said that South Africa, which voted for the United Nations Security Council resolution authorising the "no fly" zone over Libya was among the countries that joined in the criticism.
Western warplanes began striking Libya last month, but embattled leader Muammar Gaddafi has refused to yield to calls from rebel groups and other governments for him to step down, and his forces remain locked in combat with the rebels.
The comment came ahead of a final statement from the summit of the five big emerging powers, which will reject the use of force in the Middle East and North Africa at a summit on Thursday, urging instead dialogue and non-intervention, according to a draft statement.
In the context of the Middle East and Northern Africa, specifically Libya, the BRICS "share the principle that the use of force must be avoided", according to the draft statement, a copy of which was seen by Reuters.
China, Russia , India, Brazil and other developing countries have condemned the U.S.-led air strikes on Libyan forces.
South Africa, on the other hand, voted in favour of the United Nations Security Council resolution authorising the strikes. But during a visit to Tripoli on Sunday, South African President Jacob Zuma called for NATO to stop air strikes.
The BRICS summit, in the southern Chinese resort of Sanya, has also given the world's big rising economies a venue to coordinate views on global financial reforms, commodity prices and other shared concerns.
SANYA, China (Reuters) - Leaders from the five "BRICS" emerging powers joined in criticising the Western air campaign in Libya, a government source at the summit said on Thursday, when Brazil, Russia , India, China and South Africa met in southern China.
"They all condemned the bombings," said a government source who participated in the meeting of the BRICS country leaders. The source said the leaders voiced concern about the effects of the air strikes on Libyan civilians.
The source spoke on condition that his country not be identified.
He said that South Africa, which voted for the United Nations Security Council resolution authorising the "no fly" zone over Libya was among the countries that joined in the criticism.
Western warplanes began striking Libya last month, but embattled leader Muammar Gaddafi has refused to yield to calls from rebel groups and other governments for him to step down, and his forces remain locked in combat with the rebels.
The comment came ahead of a final statement from the summit of the five big emerging powers, which will reject the use of force in the Middle East and North Africa at a summit on Thursday, urging instead dialogue and non-intervention, according to a draft statement.
In the context of the Middle East and Northern Africa, specifically Libya, the BRICS "share the principle that the use of force must be avoided", according to the draft statement, a copy of which was seen by Reuters.
China, Russia , India, Brazil and other developing countries have condemned the U.S.-led air strikes on Libyan forces.
South Africa, on the other hand, voted in favour of the United Nations Security Council resolution authorising the strikes. But during a visit to Tripoli on Sunday, South African President Jacob Zuma called for NATO to stop air strikes.
The BRICS summit, in the southern Chinese resort of Sanya, has also given the world's big rising economies a venue to coordinate views on global financial reforms, commodity prices and other shared concerns.
::IPL 2011:: Pune Warriors India beat Kochi Tuskers Kerala
Improving on their performance Pune Warriors India beat Kochi Tuskers Kerala in their second encounter. They beat Kochi Tuskers by 8 Wickets in a match held yesterday at D.Y. Patil Stadium Navi Mumbai.
Tuesday, April 12, 2011
::IPL 2011:: Pune Warriors India beat Kings XI Punjab
Pune Warriors India have beaten Kings XI Punjab in their inaugral match at D.Y. Patil Stadium at Navi Mumbai. Pune Warriors lead by Yuvaraj Singh defeated Kings XI Punjab by 4 runs.
Monday, April 11, 2011
::IPL 2011: Mumbai Indians Beat Delhi Daredevils
Mumbai Indians have beaten Delhi Daredevils by 8 wickets in their inaugural IPL match in Delhi.
Sunday, April 10, 2011
::IPL 2011: Chennai Super Kings beat Kolkata Knight Riders
Chennai Super Kings have defeated Kolkata Knight Riders to win the first Match of IPL 2011.
Friday, April 8, 2011
::IPL 2011: Chennai Super Kings vs Kolkatta Knight Riders
Indian Primer League 2011 has started with the first match between Chennai Super Kings and Kolkatta Kinght Riders.
Sunday, April 3, 2011
::Cricket World Cup 2011:: India Beat Sri Lanka!! India Win World Cup
India have comprehensively defeated Sri Lanka in the finals of Cricket World Cup 2011 at Mumbai, India. India won the match by 6 wickets. MS Dhoni the captain of Indian Cricket team was the man of the Match. Yuvraj Singh was named Man of the series. Sanchin Tendulkar who was playing his last world cup was hourned by all the crickers. Entire Indian nation was ecstatic on winning its 2nd world cup after 1983.
Thursday, March 31, 2011
::Cricket World Cup 2011: India beat Pakistan
India defeated Pakistan in the 2nd Semi Finals of the world Cup 2011 at Mohali, India yesterday. India made 260/9 in their alocated 50 overs. But Pakistan were all out for 231 in 49.4 overs. With this now India will play Sri Lanka in Cricket World Cup 2011 Finals at Mumbai, India.
Tuesday, March 29, 2011
What if Pakistan wins the WC semi-final...
Sections of the Congress party have quietly voiced their resentment over Prime Minister Manmohan Singh's invitation to the Pakistani leadership to watch the India-Pakistan World Cup semi-final clash at Mohali.
They say this invitation has hyped up the entire atmospherics of the game, even more than the all out play given to it by television news channels, who are focussing on the coming match to the exclusion of everything else.
According to these Congress leaders, the problem will arise if Pakistan wins the semi final. They will then move to Mumbai to play the final and with the Mumbai terror attacks of 2008 still fresh in the memory of the city, the actual acoustics of the city may not be as happy as people will like to believe.
They say the problem is that cricket is much more than a game in the sub continent; that too a clash between India and Pakistan.
While this could still be seen in a reasonable light, sources say the fact that the prime minister has decided to push his own agenda on Pakistan through the cricket match has given a different dimension to the entire sport, by taking it from the category of sports to politics, diplomacy and an attempt to end the cold war between the two countries, triggered following the Mumbai terror attack.
Sources say that with Pakistan Interior Minister Rehman Malik publicly warning the Pakistani cricketers to stay away from match fixing and concentrate purely on winning the game for Pakistan during the mega semi-final encounter, a new public buzz has been let loose on the entire match fixing controversy.
The talk on match fixing and betting by both syndicates and individuals used to be in hushed tones but with the Pakistani minister treatening his team with dire consequences and letting it be known that the government was keeping a close watch on them, their movements, their telephones, their friends and acquaintances, a bigger dimension has been added to the game, which has been hijacked by politicians for increasing their own numbers, said a senior leader.
Even though both the countries have raised their stake in the Mohali match, it is unlikely to affect the betting mafia.
Sources say that at a conservative estimate, the semi-final clash between the two neighbours is likely to generate betting business worth over than Rs 200 crores.
These betting rings operate from London, Dubai, Mumbai, Ahmedabad (which is seen as a centre of big time betting), Kolkata and even Indore.
With so much money riding on one match for the bookies and with emotions running high in both India and Pakistan, it is not surprising that a section of the Congress party is wary at the manner in which Dr Singh is seeking to use cricket to build his own agenda on resuming the Indo-Pak dialogue.
In this context, it would be pertinent to note what Sunil Gavaskar, himself a Mumbaikar, had to say on a talk show when he was asked whether Pakistan would lose the semi-final.
He said, "I doubt whether Pakistan would lose the Mohali game; Pakistanis have a special fascination for Mumbai. They keep sneaking into Mumbai by whatever route they can find and which is available. So I would not be surprised if they do it again and reach Mumbai again."
Certainly a hard hitting left hand drive from the little master who comes from a city where the wounds of 2008 carnage have still not healed, a fact which Dr Singh seems to have forgotten about.
They say this invitation has hyped up the entire atmospherics of the game, even more than the all out play given to it by television news channels, who are focussing on the coming match to the exclusion of everything else.
According to these Congress leaders, the problem will arise if Pakistan wins the semi final. They will then move to Mumbai to play the final and with the Mumbai terror attacks of 2008 still fresh in the memory of the city, the actual acoustics of the city may not be as happy as people will like to believe.
They say the problem is that cricket is much more than a game in the sub continent; that too a clash between India and Pakistan.
While this could still be seen in a reasonable light, sources say the fact that the prime minister has decided to push his own agenda on Pakistan through the cricket match has given a different dimension to the entire sport, by taking it from the category of sports to politics, diplomacy and an attempt to end the cold war between the two countries, triggered following the Mumbai terror attack.
Sources say that with Pakistan Interior Minister Rehman Malik publicly warning the Pakistani cricketers to stay away from match fixing and concentrate purely on winning the game for Pakistan during the mega semi-final encounter, a new public buzz has been let loose on the entire match fixing controversy.
The talk on match fixing and betting by both syndicates and individuals used to be in hushed tones but with the Pakistani minister treatening his team with dire consequences and letting it be known that the government was keeping a close watch on them, their movements, their telephones, their friends and acquaintances, a bigger dimension has been added to the game, which has been hijacked by politicians for increasing their own numbers, said a senior leader.
Even though both the countries have raised their stake in the Mohali match, it is unlikely to affect the betting mafia.
Sources say that at a conservative estimate, the semi-final clash between the two neighbours is likely to generate betting business worth over than Rs 200 crores.
These betting rings operate from London, Dubai, Mumbai, Ahmedabad (which is seen as a centre of big time betting), Kolkata and even Indore.
With so much money riding on one match for the bookies and with emotions running high in both India and Pakistan, it is not surprising that a section of the Congress party is wary at the manner in which Dr Singh is seeking to use cricket to build his own agenda on resuming the Indo-Pak dialogue.
In this context, it would be pertinent to note what Sunil Gavaskar, himself a Mumbaikar, had to say on a talk show when he was asked whether Pakistan would lose the semi-final.
He said, "I doubt whether Pakistan would lose the Mohali game; Pakistanis have a special fascination for Mumbai. They keep sneaking into Mumbai by whatever route they can find and which is available. So I would not be surprised if they do it again and reach Mumbai again."
Certainly a hard hitting left hand drive from the little master who comes from a city where the wounds of 2008 carnage have still not healed, a fact which Dr Singh seems to have forgotten about.
::Cricket World Cup 2011:: India vs Pakistan Clash of the Titans
Tomorrow India plays with Pakistan in the 2nd Semi Finals of Cricket World Cup 2011 at Mohali, India. It will be a finals of sorts as India would like to maintain their un-beaten record of Wins against Pakistan in world cups. Still many people would like to bet on Pakistan winning tomorrows clash as they would like to seek revenge of all world cup defeats.
Friday, March 25, 2011
::Sales Executive Required:: Jobs for Sales Executives
We at T3 Softwares (http://www.t3softwares.com) we are looking for young and dynamic Business Development Executives for promotion of our IT related products.
Job Profile:
Searching for new potential clients
Making corporate presentations
Corporate sales
Salary: Min 10,000/- + Perks + Incentives (For Fresher)
Above 30% increment on current CTC + perks + Incentives (For Experienced)
Please contact
T3 Softwares
A/10 Shirin, 2nd Floor,
Near Makhmali Talao,
L.B.S.Marg,
Thane (West) 400601
Ph: 91-22-2534 3656
Website: http://www.t3softwares.com
Email: vaibhav.shete@t-3soft.com
Job Profile:
Searching for new potential clients
Making corporate presentations
Corporate sales
Salary: Min 10,000/- + Perks + Incentives (For Fresher)
Above 30% increment on current CTC + perks + Incentives (For Experienced)
Please contact
T3 Softwares
A/10 Shirin, 2nd Floor,
Near Makhmali Talao,
L.B.S.Marg,
Thane (West) 400601
Ph: 91-22-2534 3656
Website: http://www.t3softwares.com
Email: vaibhav.shete@t-3soft.com
::Cricket World Cup 2011:: India Beat Australia
Australia faced a major defeat in the hands of India in the quarter finals of Cricket World Cup 2011. India beat Australia by 5 wickets to claim their birth in the semi finals of the world cup. India now meet Pakistan in the first Semi finals on 30th March
Monday, March 21, 2011
::Cricket World Cup 2011:: India beat West Indies
India have beaten the West Indies team in Chennai, India to storm into the quarter finals of Cricket World Cup 2011.
Friday, March 18, 2011
::Cricket World Cup 2011: Ireland beat The Netherlands
Ireland beat The Netherlands to finish their world cup campaign on a high note.
Sunday, March 13, 2011
::Cricket World Cup 2011: Bangladesh beat England
Bangladesh today created history by defeating England in their tie at Chittagong, Bangladesh. For England its their second major defeat by a minnow nation, the first being Ireland.
::Criket World Cup 2011: South Africa beat India
South Africa beat India by 3 wickets in their encounter at Nagpur, India. South Africa scored 300 against India's 296 in their tie. The World Cup 2011 is wide open now.
Wednesday, March 9, 2011
::Cricket World Cup 2011:: India BEAT The Netherlands
India have beaten Netherlands by 4 runs in their league match in New Delhi India for Cricket World Cup 2011
China's meteoric military rise alarms India
China has set its sights on joining the ranks of the world's leading defence-industrial powers, amid growing concerns in India over Beijing's recent assertiveness and its change in policy towards New Delhi's row with Pakistan over Kashmir, a top British think tank said on Tuesday.
"China possesses many of the vital ingredients for success as world's leading defence-industrial powers -- ample funding, strong political support and selective access to foreign technologies," The International Institute for Strategic Studies said in its Military Balance 2011.
Releasing the think tank's annual assessment of global military capabilities and defence economies, Dr John Chipman, director-general and chief executive of IISS, said: "The new-found dynamism in China's defence industry contrasts sharply with its struggle for survival only a decade ago."
"It suffered a prolonged downturn after China's economic reforms began in the late 1970s, when defence spending was sharply curtailed in favour of economic development," Chipman said.
He said this situation "was exacerbated by the unwillingness of conservative defence-industry leaders to reduce enormous waste, inefficiency and widespread obsolescence."
The IISS report said Indian security officials are concerned by what they see as China's recent assertiveness in the two countries' long-standing border dispute, and by a change in policy towards India's dispute with Pakistan over Kashmir, and they have reacted accordingly.
"They are also suspicious of China's bolstered military presence in Tibet and of its involvement in infrastructure projects in South Asia with the potential for dual civil military use," it said.
According to the IISS: "India sees these as an attempt to contain and encircle it strategically, while China gains permanent access to the Indian Ocean for the first time, through the Chinese-built port of Gwadar on Pakistan's Baluchistan coast."
The report said India is concerned that new Chinese roads, rail lines and airports near the two countries' 4,000 km de facto border will provide China's armed forces with enhanced access to the region.
The London-based think tank said India has nearly finished raising two new mountain divisions of 36,000 troops each.
Two new battalions of Arunachal Pradesh and Sikkim scouts, comprising 5,000 locally recruited troops, are also being raised, with plans for a new mountain strike corps and a third artillery division for the area.
Meanwhile, it said the Indian air force has begun to deploy two squadrons of Su-30MKI aircraft to Tezpur air base, close to the Line of Actual Control with China.
India is also upgrading six airstrips in Arunachal Pradesh, as it has already started to in the Ladakh region of Jammu and Kashmir bordered Pakistan occupied Kashmir, the report said.
The IISS report said along with the acquisition of AWACS aircraft and ground-based air defence close to the LAC, India has reportedly bolstered its security with 19 low-altitude transportable medium-power radars.
"The Indian navy also plans to strengthen its eastern fleet, notably by basing an aircraft carrier in the Bay of Bengal. At the same time, India has stepped up its naval interactions with the United States and with Southeast and East Asian states," the IISS said.
An increased Chinese naval presence in the Indian Ocean is being countered by bilateral Indian naval exercises with Singapore and Vietnam in the South China Sea, and with trilateral exercises with the US and Japan off Okinawa," the report said.
It noted that modernisation of Pakistan's air force continues, with acquisitions from both the US and China.
At the 2010 Farnborough air show, the jointly developed Chengdu/Pakistan Aeronautical complex FC-1/JF-17 combat aircraft was displayed for the first time.
The Pakistan Air Force is reportedly seeking to acquire up to 250 of these aircraft in the next five to ten years.
"China possesses many of the vital ingredients for success as world's leading defence-industrial powers -- ample funding, strong political support and selective access to foreign technologies," The International Institute for Strategic Studies said in its Military Balance 2011.
Releasing the think tank's annual assessment of global military capabilities and defence economies, Dr John Chipman, director-general and chief executive of IISS, said: "The new-found dynamism in China's defence industry contrasts sharply with its struggle for survival only a decade ago."
"It suffered a prolonged downturn after China's economic reforms began in the late 1970s, when defence spending was sharply curtailed in favour of economic development," Chipman said.
He said this situation "was exacerbated by the unwillingness of conservative defence-industry leaders to reduce enormous waste, inefficiency and widespread obsolescence."
The IISS report said Indian security officials are concerned by what they see as China's recent assertiveness in the two countries' long-standing border dispute, and by a change in policy towards India's dispute with Pakistan over Kashmir, and they have reacted accordingly.
"They are also suspicious of China's bolstered military presence in Tibet and of its involvement in infrastructure projects in South Asia with the potential for dual civil military use," it said.
According to the IISS: "India sees these as an attempt to contain and encircle it strategically, while China gains permanent access to the Indian Ocean for the first time, through the Chinese-built port of Gwadar on Pakistan's Baluchistan coast."
The report said India is concerned that new Chinese roads, rail lines and airports near the two countries' 4,000 km de facto border will provide China's armed forces with enhanced access to the region.
The London-based think tank said India has nearly finished raising two new mountain divisions of 36,000 troops each.
Two new battalions of Arunachal Pradesh and Sikkim scouts, comprising 5,000 locally recruited troops, are also being raised, with plans for a new mountain strike corps and a third artillery division for the area.
Meanwhile, it said the Indian air force has begun to deploy two squadrons of Su-30MKI aircraft to Tezpur air base, close to the Line of Actual Control with China.
India is also upgrading six airstrips in Arunachal Pradesh, as it has already started to in the Ladakh region of Jammu and Kashmir bordered Pakistan occupied Kashmir, the report said.
The IISS report said along with the acquisition of AWACS aircraft and ground-based air defence close to the LAC, India has reportedly bolstered its security with 19 low-altitude transportable medium-power radars.
"The Indian navy also plans to strengthen its eastern fleet, notably by basing an aircraft carrier in the Bay of Bengal. At the same time, India has stepped up its naval interactions with the United States and with Southeast and East Asian states," the IISS said.
An increased Chinese naval presence in the Indian Ocean is being countered by bilateral Indian naval exercises with Singapore and Vietnam in the South China Sea, and with trilateral exercises with the US and Japan off Okinawa," the report said.
It noted that modernisation of Pakistan's air force continues, with acquisitions from both the US and China.
At the 2010 Farnborough air show, the jointly developed Chengdu/Pakistan Aeronautical complex FC-1/JF-17 combat aircraft was displayed for the first time.
The Pakistan Air Force is reportedly seeking to acquire up to 250 of these aircraft in the next five to ten years.
Saturday, March 5, 2011
::Criket World Cup 2011: West Indies Beat Bangladesh
West Indies have defeated Bangladesh in their tie world cup Match in Dhaka Bangladesh
Friday, March 4, 2011
::Cricket World Cup 2011:: Ireland beat England
Minnows Ireland caused the biggest upset of the tournament by beating England by 5 balls. The credit goes to Irish Batsman Kevin O Brian. England must now win all matches to stay up their hopes.
::Cricket World Cup 2011:: India and England are tied
India and England tied their game at Bangalore at 338. The game was an exciting game with each side not giving any quarter.
Sunday, February 27, 2011
::Cricket World Cup 2011:: India VS England
Today we are going to enjoy Cricket World Cup 2011 India vs England match at Bangalore. India have decided to bat first.
Sunday, February 20, 2011
::Cricket World Cup 2011:: India Beat Bangladesh
India have defeated Bangladesh in the inaugural match of Cricket World Cup 2011 in Dhaka, Bangladesh
Friday, February 11, 2011
::Cricket World Cup 2011:: World Cup starts on February 14th
Cricket world cup 2011 being hosted by India, SriLanka and Bangladesh will start on 14th February 2011.
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