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Newsletter. Issue 15. July 17, 2010

 

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India News Clips

Here's what is happening in India:

Written by a Pakistani journalist about India ....... Must forward to all Indians! without hatred
Posted on Goanet ? July 14, 2010


Capital suggestion
By Dr Farrukh Saleem


Excerpt..
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.

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 bill ion company (the entire KSE is capitalized at $65 billion). Mukesh owns 48 percent of Reliance.

In November, comes Neeta's birthday. Neeta turned forty-four three weeks ago. Look what she got from her husband as her birthday gift: 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 the 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 billionthis 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 are 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. Bollywood produces 800 movies per year and six 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 same 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 other nations who are just concerned with destruction of others...

*Simple answer to why the Indians fare better than the Pakistanis - They don't focus on religion all the time and neither do they spend time and money in devising ways to kill their own and everyone else over religion.*

 

Indians in US, other nations to get tax concession
http://www.zeenews.com/news638539.html
Updated on Sunday, July 04, 2010, 12:08 IST


New Delhi: It is what you may call charity with benefit.

Indians, staying in the US, could in next three months avail tax concession on the money they will spend on social welfare projects at their native places in India.

Under the 'India Development Foundation for Overseas Indians', an initiative of Ministry of Overseas Indians, they will get tax exemption if they want to build schools, primary health centres and other infrastructure in their villages and places of origin in India.

The Ministry has already started the process of registering the foundation in the US and it will be in place in next three months, Overseas Indian Affairs Minister Vayalar Ravi told a news agency in an interview. After the US, the ministry will register the foundation in other countries, including the UK and the Gulf. According to official data, there are about 24 million Indians overseas.

The foundation, a 'not-for-profit' trust being set up under the Indian Trust Act, 1882, by the Ministry, will be the nodal agency to implement the projects across the country in cooperation with state governments and selected NGOs.

Designed to help in rural infrastructure development, the minister said his ministry would not only target millionaires or rich NRIs for contribution but the average Indian diaspora who want to give back to the society.

"I want the ordinary NRIs, those who can contribute USD 1,000 a year, to contribute to the corpus. Your village or your panchayat may not have a primary health centre or a primary school, no building maybe. So, you can jointly contribute and say specifically what you want," Ravi said.

The fund would be concentrated on two issues ? hospitals and primary school buildings -- and may be self-help groups at a later stage.

"Our aim is to mobilise resources of overseas Indians. There are thousands and lakhs of places where there is no school and primary health centres. The contributions will be utilised for building schools, health centres and for encouraging micro credit," Ravi said.

The setting up of the foundation was announced by Prime Minister Manmohan Singh while inaugurating the sixth Pravasi Bharatiya Divas at New Delhi on January 8, 2008.

PTI

 

Indian government seeks $143M from Canada over 1914 immigrant ship incident

The Punjab state government in India is seeking close to $150 million from Canada for turning back a shipload of South Asians, mostly Sikhs, from Vancouver nearly a century ago.

Read more...

 

Time Magazine apologises to Indian-Americans for racial article
http://timesofindia.indiatimes.com/articleshow/6138025.cms?prtpage=1
PTI, Jul 7, 2010, 12.01pm IST


WASHINGTON: 'Time' magazine has apologised to Indian-Americans following the publication of a column by journalist Joel Stein which offended and outraged the large community, especially those in New Jersey.

"We sincerely regret that any of our readers were upset by Joel Stein's recent humour column 'My Own Private India.' It was in no way intended to cause offence," the Time magazine said after large number of Indian-Americans demanded an apology from the magazine and the columnist.

"I truly feel stomach-sick that I hurt so many people," responded Stein, who in his column 'My Own Private India' gave his own impression of how his home town of Edison in New Jersey has changed over the years with the desi influx.

Nearly one in every five resident of this New Jersey city are Indian Americans; thus making it one of the few such cities in the United States.

"For a while, we assumed all Indians were geniuses. Then, in the 1980s, the doctors and engineers brought over their merchant cousins, and we were no longer so sure about the genius thing. In the 1990s, the not-as-brilliant merchants brought their even-less-bright cousins, and we started to understand why India is so damn poor," Stein wrote in the issue dated July 5.

"Eventually, there were enough Indians in Edison to change the culture. At which point my townsfolk started calling the new Edisonians 'dot heads'. One kid I knew in high school drove down an Indian-dense street yelling for its residents to 'go home to India'," Stein wrote.

"Sometime after I left, the town became a maze of charmless Indian strip malls and housing developments. Whenever I go back, I feel what people in Arizona talk about: a sense of loss and anomie and disbelief that anyone can eat food that spicy," he wrote.

The article outraged many Indian-Americans. "...I always thought it was hilarious when I'd get the crap kicked out of me by kids like Stein who would yell 'go back to India, dothead!' I was always ROTFLMAO when people would assume that I wasn't American. He really captured the brilliant humour in that one too!" wrote Kal Penn, the popular Indian-American actor.

Indian-Americans also launched an online petition demanding Time and CNN to remove the article from their online edition.

"Such prestigious magazine like Time should not have allowed such an article to be published in the first place. We respectfully request Time magazine to remove the article from the web and have Mr. Joel Stein write an apology letter that shows some remorse," the petition said.

Regretting that his article hurt the feelings of so many Indian Americans, Stein wrote: "I was trying to explain how, as someone who believes that immigration has enriched American life and my hometown in particular, I was shocked that I could feel a tiny bit uncomfortable with my changing town when I went to visit it. If we could understand that reaction, we'd be better equipped to debate people on the other side of the immigration issue."

 

Indian-origin Raj Bagri quits UK House of Lords
http://timesofindia.indiatimes.com/articleshow/6139200.cms?prtpage=1
PTI, Jul 7, 2010, 05.16pm IST

 
LONDON: Lord Raj Bagri, the Indian-origin Conservative peer, has resigned from the House of Lords, becoming the fifth member to quit to avoid becoming a resident in the UK for tax purposes.

Their resignations followed the introduction of the law stipulating that in order to sit in either house of parliament, people should be registered in the UK for tax purposes. Thousands of people with roots or links outside the UK declare themselves as 'non-domicile' for tax purposes, which allows them not to be taxed on income earned outside the UK, and if that income is not brought to the UK.

The law was introduced in the wake of the mystery over the tax status of the Tory donor and deputy chair of the Conservative party Lord Ashcroft. Lord Bagri, 79, has been a Conservative peer since 1997. A businessman, Bagri was Chairman of the London Metal Exchange until 2002. He was awarded the CBE in 1995.

He is a also member of the Advisory Committee of The Prince's Trust and Chairman of the Bagri Foundation. Other four peers who resigned are Lord Foster, Lady Dunn, Lord McAlpine and Lord Laidlaw.

In April, when the law banning people with non-domicile tax status from parliament was passed, peers were given three months to comply with the new rules or leave. A House of Lords official confirmed the departing peers will retain their titles for life despite no longer having access to parliament or debates.

Bagri, former chairman of the London Metal Exchange, is one of the five peers who have decided to quit rather than give up their non-domicile status. Among the other peers is Lord Laidlaw, a Monaco-based peer who sought treatment for sex addiction two years ago after hosting parties with prostitutes.

Norman Foster is an architect and Baroness Dunn is former deputy chair of the HSBC Bank.

The issue of non-doms has dogged the Tories for years, following concern that wealthy peers were influencing British laws even though they did not pay full tax here.

A British citizen can register for non-dom status by showing strong affiliation with another country where they were either born or where their parents were born. They must also show an intention to leave the UK at some point - effectively giving them "temporary" tax status.

Non-doms must spend no more than 183 days in a tax year in the UK, or visit the country less than 91 days on average per year over a four year period.

There are an estimated 120,000 non-doms in the UK. They include Indian steel tycoons, Greek shipping magnates, Russian oligarchs and many workers at City banks, hedge funds and private equity firms. Lead NRI industrialist Lord Swraj Paul told PTI he has given up his non-dom status, though it costs him a lot of money. Lord Bagri began his career as a 15-year-old apprentice metal trader in Kolkata and went on to set up Minmetco after he came to Britain as a 19-year-old. He has a 50 million-pound home in London's Regent's Park and a home in India. He is one of the governors of the University of London's School of Oriental and African Studies (SOAS).

 

Ford India to hire 1000 people to meet Figo demand
http://www.timesofindia.zigwheels.com/News/Ford-to-hire-1000-people-to-meet-Figo-1-1
05 Jul 2010


Car maker Ford India on Monday commenced export of its latest small car - Figo, to South Africa as part of its plan to make India an export hub. The company will also hire 1,000 people for its Chennai facility by the end of this year.

"We are very excited... Today it is the first shipment of Figo to South Africa," Ford India Managing Director Michael Boneham told reporters here.
The company exported 1,200 units of its newly launched compact car 'Figo' to Durban as completely-built-units (CBU). The lot comprised equal numbers of petrol and diesel options.

Stating that their biggest problem was "capacity" with demand for the vehicles picking up, Boneham said, "South Africa was an impatient customer (for us)... We have got over 5,000 units in orders (for Figo)."

"This year we are expecting it (exports of Figo) to be around 3,000 units", he added.  Besides South Africa, he said the company could export to newer markets, which it would announce in next few weeks.


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