Indian Centre for Islamic Finance delegation makes presentation at Yojana Bhavan The Indian Centre for Islamic Finance (ICIF) has made out a strong case before Prime Minister's Economic Advisory Council member V. S. Vyas for introducing interest-free banking in the country at the earliest to ensure “inclusive growth with innovation” in accordance with the recommendations of the Planning Commission's Raghuram Rajan Committee. An ICIF delegation from New Delhi, led by its general...
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Anatomy of Indian capitalism by Himanshu
Ratan Tata has initiated an interesting debate on the nature of India’s capitalist class. His characterization of this class as crony capitalists may not be out of place given recent evidence on a politics, media, judiciary and corporate nexus.Crony capitalism is a system in which businesses multiply their wealth not by fair rules of the market, but through their nexus with governments. Classic examples are the distribution of legal permits,...
More »Jobs for the millions
he recent findings by the Labour Bureau's Employment and Unemployment Survey (2009-10) provide timely pointers to the manner in which liberalising India's workforce is coping with the changing times. The survey gives a snapshot of the country's employment and demographic situation. The estimated unemployment rate — in the region of 9.4 per cent (barring the five north-eastern States and the islands of Lakshadweep and Andaman and Nicobar, where the survey...
More »India Stocks Sink on Telecommunications Scandal by Heather Timmons
A widening corruption scandal that has touched India’s prime minister sent the country’s stock markets down sharply on Friday and threatened to tarnish the country’s image as a rising economic power. Setting off the turmoil was a report from the country’s auditor earlier this week that about $40 billion in wireless spectrum license fees had been squandered by the government’s telecommunications and information technology minister. On Thursday, India’s Supreme Court criticized...
More »The Girl Who Was Once Nira Sharma by Sunit Arora
* Moved to London from Kenya in the 1970s. Schooled at Haberdashers’ Aske’s. Bachelor’s at University of Warwick. * Has three siblings. Father in aviation. Three sons from failed marriage with UK businessman Janak Radia. * India entry in 1995. Sahara liaison officer. India rep of Singapore Airlines, KLM, UK Air. * Floats Crown Air as MD in 2000, with sister Karuna Menon as partner. Secures FIPB clearance to...
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