Tuesday, December 26, 2006

Chalta Hai ab kyon nahin chalega

PM Manmohan Singh said that we need to have a global attitude to compete globally. The local "chalta hai" is not OK for India and Indians to survive in this increasingly global world he notes....

Burnpur (West Bengal): Giving a call to shrug off the "laidback approach", Prime Minister Manmohan Singh on Sunday said that the country has to move fast on the path of economic growth to catch up with its neighbours in East Asia.

"We have to give up our chalta hai (laidback) attitude to move very fast to catch up with our neighbours in east Asia," Singh said at the foundation-laying ceremony for the revival of the Indian Iron and Steel Company (IISCO).

Singh hinted this approach was responsible for some enterprising and ambitious Indians like Lakshmi Mittal moving out of the country to set up business empires abroad.

Saturday, December 23, 2006

PM Singh's visit to Japan

As the curtains come down on 2006, I would like to reflect on the best news thus far!

This month PM Singh visited Japan with a heavy economic agenda initiating a discussion on EPA. Importantly the EPA or Economic Partnership Agreement (aka the Freet Trade Agreement) will cover, besides trade in goods and services, issues concerning investment promotion and intellectual property rights. Noting that there had already been an increase in the level of involvement of Japanese companies in India, JETRO (Japan External Trade Organisation) has been assisting a number of small and medium enterprises in locating themselves in India, and had now opened its second Indian office in Bangalore.

This means that there will be significantly increased investments by Japanese comapnies in India and that will throw open a lot of very interesting jobs for professionals in this sector. I certainly think that this has been the most significant development in this sector in ALL of 2006. Wishing all readers a very Happy New Year ahead.