Jairam Ramesh, India's environment minister, will make a decision in the next week that could define the future of the country: whether to approve a $12 billion South Korean-owned steel plant, the largest potential foreign direct investment ever on the subcontinent. The plant, proposed by South Korea's Posco, has been in the works for years. It already has been cleared by the environment ministry, which Mr. Ramesh runs, and endorsed by...

Asian governments, battling soaring food inflation, are pumping ever more resources into agriculture but will struggle to offset rapidly expanding demand in top consumers China and India. China, stung by consumer prices running at a 25-month peak, has been selling state stockpiles. It has also ordered banks to urgently offer support to farmers, an example of the sort of firepower these governments can deploy. With China and India also in many cases...

Renowed agri scientist, M.S.Swaminathan today said Indian agriculture will receive a big boost if the country takes advantage of its young population and woos them into the farm sector by making it lucrative. “India has a big advantage as more than half of its population is below 30 years of age”, he said. “If we tap this huge demographic dividend by making agriculture exciting for the younger generation a far better result...

NIIRA RADIA, the lobbyist at the heart of India’s audacious multi-billion telecom swindle, inaugurated a Krishna temple she funded in south Delhi on her birthday — that, interestingly, coincides with Indira Gandhi’s. Those present on the occasion said Radia prayed for long, presumably seeking divine intervention to wriggle out of the country’s biggest scandal. Before the temple visit, notices from the country’s Enforcement Directorate (ED), Income Tax (IT) Department and the...

The SKS IPO and the Andhra Pradesh ordinance have suddenly changed everything. Will it be the death knell or will it usher in a reformed and healthy industry? There are three basic facts about micro-finance in India. First, most of what is described as micro-finance industry is actually micro-loans. There is hardly any provision of micro-savings, micro-investments, micro-insurance or micro-pensions. This is mostly because of regulatory reasons, i.e. accepting money...