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Name: Probir
Country: India
Metro: Kolkata
Birthday: 3/11/1980
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Interests: writing, researching on hell
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Member Since: 3/9/2006

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Monday, October 19, 2009

Corruption everywhere

Indian Companies Most Corrupt while Doing Business Abroad: Report

In the recent years, the “Made in India” phrase may have gained substantial momentum but the practices remain one of the most abominable in terms of global best practices approach. There has been significant exposure of Indian companies in global market in recent days but that is not a sign of any improvement in corporate practices, according to Transparency International's Global Corruption Report 2009. “A minimum of 100 senior executives each in 26 countries were questioned regarding the practices used by business persons from various nations,” it says. If the report is anything to go by, the Indian businessmen, although take pride in their success, are the most corrupt in their practices when it comes to play fair in conducting the businesses.

According to the report, corrupt practices constitute a major part of destructive force which is responsible for undermining fair competition. The corrupt practices also stifle economic growth and ultimately result in harming the business itself. Although the report is based on consensus of businessmen from around the world, there is hardly any disagreement to the fact that Indian businessmen are corrupt and ready to go to any length for achieving success. At least 30 per cent of 2,742 business executives surveyed across the world regard Indians among the most corrupt when doing business abroad to “speed things up”.

It is a well known fact that bribery is a common norm in India, not only in business but in every task that has even a little touch of bureaucracy. This report is only an addition to many reports and beliefs that term India a corrupt nation. It is to be noted that The Competition Act enacted in 2002 which promotes and sustains competition in markets and protects the interest of consumers has remained a non-starter in India, as per the report. Importantly, way back in 1988, the Confederation of Indian Industries (CII) put forward a voluntary governance code based on international best practices to help enhance governance, has not gained any importance among the Indian businessmen yet. The code of conduct forwarded by the CII were based on various constituents of best practices, such as independence for boards, the certification of key results and processes by key executives, audit committees with greater independence and financial expertise, and enhanced disclosure. It is found that only a handful of companies adopted the measures, resulting in widespread corrupt policies among Indian corporate.

The ultimate sufferers, due to these corrupt practices, are the common customers. It is believed that half of international business executives polled estimated that corruption raised project costs by at least 10 per cent. According to a spokesman of the NGO that published the report, "Ultimately it is citizens who pay: consumers around the world were overcharged around US $300 billion through almost 300 private international cartels discovered from 1990 to 2005".

The report is an eye opener of the various types of corrupt practices that are prevalent in Indian business houses. The report cites the example of the “sick” Stock Market policies, too. The report says that fraud and cheating behavior is omnipresent, including the stock markets in India. According to the report, the stock market fraud by brokers in collusion with corporations that aim to cheat investors and circumvent the regulator, the Securities and Exchange Board of India (SEBI) is a matter of concern. Though the SEBI has laws to punish the corrupt businesses through monetary fines, the report adds, the serious financial crimes can be exempted on a payment of mere 2,000 dollars. It is no magic then that many frauds are strolling in the stock markets to cheat investors and attain undue advantage in terms of financial practices.

It is a serious condition for the Indian businesses. The recent recession has clearly showed that businesses that are irresponsible and are not governed by strict management policies are prone to extinction. The Indian business houses should learn from the clear signs of the trend and adhere to global best practices if they wish to stay attractive in the long run. Also, the businesses should cite an example of transparency and non-corrupt attitude to the bureaucrats of India. After all, the businesses cannot harm themselves by wearing the same shoes as that of the bureaucrats.


Tuesday, September 15, 2009

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Thursday, September 03, 2009

A journalist if Pakistan, Dr. Farrukh Saleem has written the following

 

Here's what is happening in India:

The two Ambani brothers can buy 100 percent of every company listed on the Karachi Stock Exchange (KSE) and would still be left with $30 billion to spare. The four richest Indians can buy up all goods and services produced over a year by 169 million Pakistanis and still be left with $60 billion to spare. The four richest Indians are now richer than the forty richest Chinese.

 

In November, Bombay Stock Exchange's benchmark Sensex flirted with 20,000 points. As a consequence, Mukesh Ambani's Reliance Industries became a $100 billion company (the entire KSE is capitalized at $65 billion). Mukesh owns 48 percent of Reliance.

 

In November, comes Neeta's birthday. Neeta turned f orty-four three weeks ago. Look what she got from her husband as her birthday present:

A sixty-million dollar jet with a custom fitted master bedroom, bathroom with mood lighting, a sky bar, entertainment cabins, satellite television, wireless communication and a separate cabin with game consoles. Neeta is Mukesh Ambani's wife, and Mukesh is not India 's richest but t he second richest.

 

Mukesh is now building his new home, Residence Antillia (after a mythical, phantom island somewhere in the Atlantic Ocean ). At a cost of $1 billion this would be the most expensive home on the face of the planet. At 173 meters tall Mukesh's new family residence, for a family of six, will be the equivalent of a 60-storeyed building. The first six floors are reserved for parking. The seventh floor is for car servicing and maintenance. The eighth floor houses a mini-theatre. Then there's a health club, a gym and a swimming pool. Two floors reserved for Ambani family's guests. Four floors above the guest floors are family floors all with a superb view of the Arabian Sea . On top of everything are three helipads.. A staff of 600 is expected to care for the family and their family home.

 

In 2004, India became the 3rd most attractive foreign direct investment destination. Pakistan wasn't even in the top 25 countries.

 

In 2004, the United Nations, the representative body of 192 sovereign member states, had requested the Election Commission of India to assist the UN in the holding elections in Al Jumhuriyah al Iraqiyah and Dowlat-e Eslami-ye Afghanestan. Why the Election Commission of India and not the Election Commission of Pakistan? After all, Islamabad is closer to Kabul than is Delhi .

 

Imagine, 12 percent of all American scientists are of Indian origin; 38 percent of doctors in America are Indian; 36 percent of NASA scientists are Indians; 34 percent of Microsoft employees are Indians; and 28 percent of IBM employees are Indians.

 

For the record: Sabeer Bhatia created and founded Hotmail. Sun Microsystems was founded by Vinod Khosla. The Intel Pentium processor, that runs 90 percent of all computers, was fathered by Vinod Dham. Rajiv Gupta co-invented Hewlett Packard's E-speak project. Four out of ten Silicon Valley start-ups are run by Indians. Bolly wood produces 800 movies per year and s ix Indian ladies have won Miss Universe/Miss World titles over the past 10 years.

 

For the record: Azim Premji, the richest Muslim entrepreneur on the face of the planet, was born in Bombay and now lives in Bangalore.India now has more than three dozen billionaires; Pakistan has none (not a single dollar billionaire).

 

The other amazing aspect is the rapid pace at which India is creating wealth. In 2002, Dhirubhai Ambani, Mukesh and Anil Ambani's father, left his two sons a fortune worth $2.8 billion. In 2007, their combined wealth stood at $94 billion. On 29 October 2007, as a result of the stock market rally and the appreciation of the Indian rupee, Mukesh became the richest person in the world, with net worth climbing to US$63.2 billion (Bill Gates, the richest American, stands at around $56 billion).

 

Indians and Pakistanis have the same Y-chromosome haplogroup. We have the same genetic sequence and the same genetic marker (namely: M124).

 

We have the sam e DNA molecule, the same DNA sequence. Our culture, our traditions and our cuisine are all the same. We watch the same movies and sing the same songs. What is it that Indians have and we don't?

 

INDIANS ELECT THEIR LEADERS

 

And also to mention: They think of Construction of own nation, unlike nations who are just concerned with destruction of others :)

 

Special reference (from Siliconindia)

Indian immigrants are always a significant driving force behind the creation of new engineering and technology companies in the United States in the past decade. It is estimated that there are 35,000 IITians in the U.S. Different studies indicate that of the estimated 7,300 US tech companies founded by immigrants, 26 percent have Indian founders, CEOs, presidents or head researchers, most of whom are from IIT system.

 

Personal Notes:

Well, everything is in favor of India, it seems. In actuality, it is not. India has a massive population and a greater portion of the population is living under the poverty line. The illegal immigration from the neighboring countries, especially Bangladesh is also a matter of concern. Also, the distribution of wealth is not uniform. While Mukeshji has become the corporate icon and the richest person in the world, there are crores of people who never get education, leave apart the fact that they become entrepreneurs. India’s governance is one of the most complicated in the world and corruption is also alarmingly high.

The success of India Inc, is due to the industrious nature of the entrepreneurs and since they are honest, India has achieved great advantage in terms of business. But the political system in India is not transparent and due to lack of capable leaders and bureaucrats, living in India is still a nightmare. India has achieved significant success in Business world but socially, there is hardly any improvement.

The number of students who get admission in IITs and IIMs are only a fraction of the whole and India desperately needs many more quality educational institutes. There are enough poor people in India who can’t even let their children have quality education.

The success stories of IITians are only available in USA, which is a matter of concern. The question is that why they opt for foreign destinations in comparison to India’s. Getting proper focus and entrepreneurship impetus in India is an ardent task.

The good thing about India is that it is a democracy and there is a certain level of openness and acceptance to ideas. India will have to face many challenges but the story so far has been quite impressive.

 


Saturday, August 22, 2009

Time for Bollywood to re-structure itself

Before the recession beagn, Bollywood was a happy guy- earning revenues, having fun and showing people all those stuff what it wanted to. Times have changed. First, the eletronic media is spreading like anything and people tend to remain at home rather than going out and watch movies, especially in the rural areas.

It is also a fact that the Bollywood has become a bit monotonous. Every movie that comes out of its den either portrays love stories or have a close touch with a love affair. People nowadays are looking for options other than that. Of course, they will watch a love story but everybody needs a twist. Bollywood has long been following the footsteps of Hollywood and if it now it really wants to stand on its own feet, it will have to have original ideas.

Music associated with movies are also getting shabbier with passing days of recession. Earlier, the msuic of movies were lively and delightful. But as the revenue streams associated with music are getting lost, the producres seem to neglect the context. Good music will essentially give a new way to the already baffled industry.

I believe, if ideas keep coming from fresh initiatives, Bollywood will soon get out of the shady area. Otherwise, we will keep watching the same old love stories that hardly entice us anymore. Moroever, there will be lesser hopes of a resurrection.

We also need some really good heroes and heroines. Apart from having the same old faces, it is time to bring in some new refreshing icons and build them stars. The already old guys are getting older and the industry will need fresh talent within a very short span of time.

Perhaps, the industry should also rise above the stereotypes. People do not want to get bored with the same kind of story ideas that used toa muse people of the 60s. It is 21st sentury and the movies must be able to bring that sense in.

Rest is in the hands of god.



Sunday, August 02, 2009

India is Changing: What's All Hullabaloo About the Reality Shows?

There has been lots of debates in India these days, which is a sign of healthy democracy. I would take up one such particular topic in this post. There has been a lot of hullabaloo about the reality shows. Fortunately, our ministers believed it to be an important issue to save the Indian society from the recent media exposures (the TV channels are terming it to be "truth") and its harmful effects. I think the ministers are really growing up nowadays and they have understood that picking up issues that influence the society is a good way to attract attention (they have, at least, discussed about the issue of content censoring for TV channels). They may well be interested in really reviving the society and censoring content so that it does not have any adverse effect on the society but their intentions are pretentious. We have no faith on the intentions of ministers and they are responsible for it themselves. But my topic is not to blame the ministers for their shortcomings. My topic is that both the parties involved in the discussion or debate are selfish and they are addressing only their own needs. Read on if you think you are a part of the society.  

First of all, the reality shows have nothing to do with reality. They term it reality show but the content of these shows are purely TRP oriented. They may provide you a lots of reasons, such as there are two Indias in India, one that believes in openness and the other that prefer social customs etc. but teh truth is that there are only two types of shows-one that shows society and its image (Saas bahu serials and blah blah blah) and the other that sells sex (that too borrowing from western cultures). Although the reality shows are being sold by terming them to be truth, the truth is far from reach of the producers and directors of these TV shows. I do not want to address whether they should make such serials or not but I just want to tell that this is only a selfish approach to sell serials by attaching sexual spices. So, I do not think reality "shoes" have anything to do with reality, at least in the Indian context.

Now, I come to the other side of the debate. The people who are shouting that the TV shows will destroy the structure of the society are not only selfish but they are also blind and reluctant to the truth. Not the truth the channels want to show but the one that is happening slowly. The matter of concern is that, the TV is only a part of the media and its popularity is sharply decreasing in relation to the advent of other digital media, although this might not be evident in India right now. These people are only orthodox blinds who have no idea about culture even when they believe that they should save it. They actually are not clear about their objectives. Sometimes they say they would save the children, sometimes the young generation and some other times the society as a whole. The fact is that culture is an all inclusive phenomenon and it cannot be held captive of only some rituals. If "Sex" is gaining ground, it is because the culture is accepting it slowly. i do not mean this only for the urban India but even in the rural places, people are now open for experimentation. This obviously does not mean that people are becoming prostitutes or that they would like to display sexual acts in public. But if you mind the real statistics, prostitution and the "call girl" phenomena have grown sharply. That is probably because there is a demand for a change and people are open to experimentation. I do not want to say whether this is a good sign or a bad sign but I have never seen people who shout about society address these issues. Still, returning back to the topic, the netas and the saviors of the society have never been able to prove their mettle. This is because they never want to accept the changes that are part of our society and that which is a reality in true sense.  

I would also like to address that the world is changing at a much faster pace than we actually realize. And the experimentation with newer subjects is a part of it. Whether it is porn, prostittution or "selling soft porn" people are open to new issues. The mass has no appeal to stop these shows and they are not also overtly interested in them. People are living their own life. So, even when it is obvious that censorship is sometimes required, the government and the society's saviors are waking up too late. Even the saas bahu serials are a demeanor to our customs and society and most of these represent a unhealthy married life as its centerpiece and mainstream of the story. Who will stop them?

We live in a world that is more appreciated if the speed of broadband is faster than the one which still entangles in the debates of reality and illusion. Live it.



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