There is substantial capacity in the cooperative sugar sector. Reform of the sector needs transparency, enforcement of prudential norms and effective governance. Multi State Cooperatives can now become Producer Companies under the Companies Act by the Second Amendment in 2002 based on a Draft Act prepared by a Committee I chaired. As far as possible conflict of interest, reporting norms and so on need enforcement for Cooperatives as in Company...

Drug companies in India will be prohibited from handing out cash or gifts or stand-alone entertainment to doctors under a code of ethics proposed by industry associations to govern the marketing of medicines. But the code has run into rough weather even before it has been adopted, with at least two industry associations disassociating themselves from the document, tabled at a meeting called today by the government’s department of pharmaceuticals. The two...

Corruption kills development and is one of the biggest obstacles to achieving the globally agreed targets to reduce poverty, hunger and other social ills by 2015, also known as the Millennium Development Goals (MDGs), United Nations officials warned today. “When public money is stolen for private gain, it means fewer resources to build schools, hospitals, roads and water treatment facilities. When foreign aid is diverted into private bank accounts, major...

The highly-anticipated United Nations climate change conference kicked off in Copenhagen, Denmark, today with countries issuing urgent calls for action to curb global warming. Over 15,000 people, including government officials and representatives from the private sector, environmental organizations and research institutions, as well as 110 heads of State and government – including United States President Barack Obama and Chinese Premier Wen Jiabao – are expected to take part in the...

India needs to strengthen and liberalise its regulatory framework and invest more in infrastructure in order to attract increased foreign direct investment (FDI), according to a new OECD report. The OECD’s Investment Policy Review of India says India has designed policies to encourage investment as part of market-oriented reforms since 1991 that have paved the way for improved prosperity. “Restrictions on large-scale investment have been greatly relaxed. Many sectors formerly reserved to the...