The Mountains Are High And The Emperor Is Far Away

In China this is a commonly used proverb in the outlying provinces which are furthest away from Beijing.

The Bihar election has once again proved as it does time and time again in elections around the world, that what matters most to the local electorate is what affects them on a day to day to basis. They could not be bothered whether President Obama says " India has emerged" or whether the United States will support India's attempt at a permanent seat in the United Nations Security Council .

They care about whether they have roads which allow them to take their produce to the market, do they have schools for their children, is the government able to provide them security , are they able to get employment close by home instead having to go to far away places ?

Nitish Kumar in his first term understood and concentrated on this. Among his initiatives was the building of roads, improving the law and order situation, focusing on education- including that of girls. He empowered the economically backward classes and women  by reserving 20%  and 50 % respectively,  of the seats in the village councils and urban local bodies.He overhauled the judiciary to ensure that the law and order cases were fast tracked and culprits brought to court.

This  resulted in his party and his alliance partner cornering a historic  206 out of the 243 seats  in the state assembly.There is a lesson  for the other political parties.If Bihar can do it , surely so can they ?

One Person Can Make A Difference !!!!

Until 2005, Bihar was considered the classic example of a failed provincial state. Under its former Chief Minister Bihar stagnated while most of India moved on. Ruled by a combination of divisiveness and gangsterism,it became a difficult place for most people to have a normal life. You were not able to go out at night. Most well off ( and I am not talking about the super rich ) ran the risk of being kidnapped. The  talented Bihari's started migrating to other states and other countries.

Then in 2005 Nitish Kumar got elected as Chief Minister. With some social engineering and with a determined focus on improving the law and order situation, with building the infrastructure and empowering women he changed Bihar from a "bimari"state to one of the fastest growing state in the country. While it still has a long way to go, hopefully the very strong results in today's election will not make him complacent. If he does a repeat of the first term , Bihar will emerge to be one of the best managed state.

We hope that this will prove to the politicians that development  helps you get elected and others will follow his example.

Do you know who my father is ?

In  New York Times dated November 17th,  there is an article about  the misdeeds of  the children of people  in power.

In this case the son of a Chinese  provincial deputy chief of police in a drunken state mowed down two girls who were roller skating in the college grounds. One of whom eventually died. When arrested he shouted at  the security personnel " My Father is ...... "   ? This has caused a bit of uproar in China.

We see this so frequently in India, not just in accidents, but in other incidents whether it is land allocation or election tickets being given to the princelings . Some times it goes beyond that  to Mothers in Laws or Brothers in Laws or nephews or cousins.

There are hundreds of  anecdotal stories. . One I heard recently was about the toll both charges on the NH-8 ( Delhi - Gurgaon ) expressway. A friend of a friend of a friend was behind a car , where the driver of the car was arguing with the  toll collector.Since it was peak hours there was a long queue of cars. After a few minutes he got out of his car and went to the counter to see what was the issue.The driver was insisting that he be allowed to pass through without paying the toll because his brother was a minister in the State Government. The friend  ( 3 ) offered to pay the toll charges, but the driver refused and insisted that the toll collector call his brother's office. In the meantime the traffic continued piling up. All this for a princely sum of twenty rupees. This has to take the cake !!!!

What Did I Say ?

In my blog The Melting Pot Through A Cyrstal Ball dated 5th November , I mentioned about the Dalia Lama being a " honorary Indian ".

I quote today from   Paul Beckett's column in today's Wall Street Journal
“I am a son of India,” he ( The Dalai Lama)  declared during questions after his appearance at the Hindustan Times Leadership Summit in New Delhi. Not only has India been his transplanted home since he fled Tibet about 50 years ago, but “this body has survived by Indian daals, Indian rice, so therefore I describe myself as a son of India.”
He also considers himself a “messenger of India” .... because he espouses ancient Indian thought, especially the gospel of “non-violent action related with a compassionate mind.”
He also noted the India was the only country, in his view, where all the major religions “live together with respect.”

Need I say more ?

The Longest Journey Begins With The First Step

In my Blog of September 22nd,  I had hoped that the the corruption of the Common Wealth Games  highlighted by the media would be the trigger for the start of a movement which demands  accountability from  public officials . Also investigations are underway to see far the corruption went.


Yesterday the investigative authority  announced the arrest of  two members  of the Organizing Committee of the Commonwealth Games  . It remains to be seen whether the " big fish" will also be netted or is it just some small fry getting gutted ?

However a few other  events over the last couple of months makes one think that finally steps are being taken - even if they are small steps.

 1. A NGO called Janagraha has launched a website called (http://ipaidabribe.com/) where you can go online and report the payment of a bribe to get something done. Your identity is apparently not disclosed.

2. The removal of the  Telecoms Minister who while granting spectrum license's  has apparently enabled the state to loose thousands of   crore's  in potential revenues. The exact numbers vary from report to report.

3. Mr.Ratan Tata one of the most respected industrialist after remaining silent for many years has gone public that the reasons why they are not in the airlines business ( despite the fact that Air India was started and run by the Tata group and was reportedly the role model for Singapore Airlines),is  because he was unwilling to pay a bribe  to a politician as was advised by a fellow industrialist.

4. The Adarsh Housing Society  Scam in which Defense Services personnel and state politicians got together to allocate themselves flats in a building in a prime location in Mumbai at a throw away price.

5. A former Army Chief has been accused by the media for having assets beyond his means.

While some of these are still investigated, the very fact that these are being raised in the media and the Government taking steps to investigate them  is an encouraging sign. Hopefully the guilty will be punished and not protected for political expediency's sake.

While one can be cynical and say that nothing is going to come off it, I would like to think that we are moving in the right direction. These are  small steps individually, but as the Chinese say - " The longest  journey begins with the first step". I think we are seeing  the first step being taken !!!

The Melting Pot Through A Crystal Ball

A couple of weeks ago , I was having dinner with some colleagues from the United States and were chatting about how America was changing. One of the things which was mentioned was how the immigrants were no longer buying into the melting pot concept . His view was that in the past all immigrants , if not in the first generation , but certainly by the second generation had become Americanized. He felt that was no longer the case.He sounded a bit concerned.

I thought about it and feel that until the fifties the majority of the immigrants were white and predominantly Christian ( apart from the African Americans  who were brought in as slaves). Yes there were exceptions. You had Chinese who came to build the rail roads but who did not have equal rights. Then you had the Jews who  were initially discriminated against but gradually became part of  the mainstream. The Hispanics predated the Americans, but the numbers have jumped up radically. From the seventies you saw more of a influx of immigrants who were Muslims, Hindu's and Sikh's.

The concern now is that the recent wave of  immigrants now while living and working in America still want to retain their ethnic and religious identity. They want to build their own places of worship, eat their own food and speak their own language while at home. I do not feel that this is a cause of concern.  Once you have the third and fourth generation they too will become Americanized, but that does not necessarily mean that they will give up their religion. After all the first American immigrants came to avoid religious persecution. So why should the new generations of Americans be expected to give up theirs ? There will be  some who will , but there will be others who will retain theirs.Religion  however will increasingly  become of less importance as is the case  now for the many Americans, English and even for Indians.

If you want an example of what the American Melting Pot  will look like in fifty to  hundred years from now, look at India from a socio-cultural point of view. Starting from Alexander's time, followed by the Mongols, the Turks, the Persians and others , we have had invaders who have come and in most cases settled down and assimilated while retaining their own religion. Apart from the majority population of Hindu's, we have large communities of Muslim ( the second largest Muslim population after Indonesia) , Buddhist, Sikhs, Christians,Parsi's, and Jews ( most of them  have now migrated to Israel).What makes India unique is the the Indian identity - you  have fair, blue or green eyed Indians, you have brown Indians,you have Indians who are blacks,Indians who have Oriental features - but who  are all Indians. There are twenty official languages recognized by the Indian  Constitution.Although Hindi is the official language in most schools, students also study another regional or state language and or English apart from Hindi. 

During his visit this week President Obama in his  many speeches talked about the diversity  of India. At various times  and during his address to the Parliament, he interacted with the Hindu President, the Sikh Prime Minister, the Muslim Vice President and the Christian power behind the throne. Perhaps a meeting with the  Dalai Lama ( who after fifty years here could be classified as a honorary Indian) would have rounded off the major religions of the world.

Yes, occasionally we have incidents against certain minorities - Muslims, Christians and even Sikhs, but in the overall scheme of things these numbers are relatively small. For the most part, they live in harmony, and increasingly speak in a common language. They enjoy Bollywood ( and Hollywood) movies and shows. They root for the Indian cricket team and so on.

So the message to my American colleague is to look at India's social cultural mix. This is where America is going to be a  hundred years from now or even earlier.  Relax its not so bad.

Creating Wealth Has Never Been This Easy !!

If you are young and have dreams of becoming a billionaire, you are born at the right time.

For centuries if you wanted wealth and power you had to go out and grab it. You got together a band of soldiers which gradually became an army and you ventured out and conquered everything on the way. Some like Alexander and Genghis Khan or his descendants Babur and Kublai Khan went on to create huge empires and entered the pages of history. Thousands of others died  anonymously in in forests, deserts or drowned in rivers far away from where  they were born.

It began to change with the onslaught of industrialization.If you had the entrepreneurial skills,you started a new industry and set up a factory and sold on a global basis. You built up a fortune over a life time, and towards the end you had had a estate of hundreds of acres and built yourself a family mansion manned by hundreds of servants. This happened in England, Europe, the United States and other parts of the world.

Soon after that you had the development of the service industries, hotels, entertainment, advertisements and the like . With the exception of the bankers,  of the ilk of JP Morgan, and the real estate developers who built cities to cater to the rapid urbanization of the cities,   the wealth might not be of the same magnitude of the industrialists.

Starting the 1980's when information technology came to the forefront, it opened up the window of opportunity for people who used their brains to create the software which ran machines , provided entertainment and now help people communicate and stay in touch with each other. Providing the turbo jets for this effort were the venture capitalists who helped the scale up the efforts within a short period of time. Unlike the past when you relied on capital and bank borrowings, the venture capitalists injected large doses of capital to expand.

At the same time you saw the emergence of the high powered , well paid investment bankers and traders , who while still employed and playing with other people's money excelled in  the game of  heads I win , tails you loose. Similarly the  hedge funds and private equity fund managers played with the decks loaded in their favor made and continue to make  large fortunes within a relatively short period.

Which brings me to the conclusion of giving advice to the younger generation - if you are interested in making money quickly, develop the ability to sell your self. Once you are able to do that, it is easy to make money.Fortunately there are many  among the younger generation  who will not follow this advice and who  have  ambitions, to make the world a better place or pursue other careers which are less rewarding . We need them to have a well rounded civilization. Can you imagine a world full of just investment bankers and computer nerds ?

What gets us excited ?

I notice that the online versions of the international business newspapers are trying to localize  the news and have the equivalent of a India edition. The Wall Street Journal in particular has made a tremendous effort to Indianize their online edition.

They carry local columnists and photographs. This makes it an  interesting read  from my perspective. Also I have gotten into the habit of reading the comments or peoples reactions to some of the issues raised in this columns. Being the land of  Argumentative Indians there is no shortage of opinions expressed. I have to confess, I occasionally jump in to express my two cents worth as well.

It is interesting to see that when there are articles critical of India there is a tirade of comments. There are other issues also which get people excited. However today's edition carried a column by a Mr.S.Gridhar who runs the Azim Premji Foundation and which talked about the great work done by individual teachers in rural communities in spite of the odds being stacked against them. Their dedication is spread over decades and is awe inspiring.(http://blogs.wsj.com/indiarealtime/2010/09/29/india-journal-a-salute-to-the-unheralded-teacher/ ). Yet there were only three comments ( including one of mine).

While we all get excited about Shah Rukh Khan being searched by the US customs  and other instances where reader take up cudgels, in this instance no one seems to show much interest. Shows our priorities. Sad state of affairs !!!

Déjà Vu

Over the last few years there has been a lot of concern about China and its trade and investment policies. China keeps it currency artificially low, it puts up trade barriers, it discriminates against foreign investors. In addition, the critics say that China does not respect intellectual property, it copies technology, it puts pressure on companies who want access to the Chinese markets to invest there and to disclose technology and so the list goes on.

Why does it all sound familiar ? Was this not all said about Japan in the seventies and in the eighties ? Japan was asked to appreciate its yen, it was asked to open its markets, it was asked to lower its barriers to import.Buy out funds  chafed at their in ability to acquire control of the tightly held companies.

Some  of these complaints were valid. I remember one instance where the Japanese were  placing restrictions on the import of French ski's. The Japanese insisted that the snow in Japan was different from the rest of the world. The French retaliated by insisted that all Japanese car imports were routed through one small port which caused huge amount of delay. The Japanese backed down shortly.

In the meantime the Japanese companies went on a buying spree for assets in the developed world, including an American icon - The Rockefeller Center. The Japanese banks  were among the largest in the world in terms of assets . It was rumored that the grounds of the Imperial Palace were worth more than the entire state of California.  There was concern that Japan would dominate the world. Americans insisted their children learn Japanese.American graduates lined up internship with Japanese companies.

Now it is China's turn. The multinational companies are all complaining that China is limiting their access to the markets and to certain sectors. There is talk about barriers being erected against Chinese exports. Pressure is being imposed on China to let the yuan appreciate.

China has learned from Japan. Its investment  forays overseas , with some exceptions,  have been in the emerging market countries in Africa and Latin America, in search of raw materials and where it can use its financial muscle. Initial  attempts by public sector companies to acquire natural resources in the developed world  met with resistance and China now treads warily.

At the end of the day how will it play out ? The reality is that now days global trade and the global economies are too inter-linked . We have learned  our lessons from the Depression era that barriers do not help. But each country  has to shadow dance and show the big stick , partly for its domestic audience and also to ensure that limits are not crossed. While there is always a risk that a particular leader might be foolish enough to proceed with the threats being made,  at the end of the day nothing will change. Twenty,  thirty  years from now there will Act III of the same play but with a new set of actors and a new bogey man Perhaps it will be Brazil or India. ? Keep watching this space.

Trigger For Change

The newspapers are full of the Commonwealth Games fiasco and enough is being said without adding my two cents worth.

I sincerely hope that this will be the trigger for the public to demand more transparency and accountability from the politicians and the bureaucracy. The government needs to streamline the numerous departments to avoid passing the buck like it is being done now. The Metro is a good example. By giving Mr.Shreedharan the overriding powers the National Capital Region Metro has come in on time and on budget repeatedly since its inception.

Why can we not do this for other major projects ?  I am sure there are many other Shreedharan's around that we do not have to rely on the likes of  Mister  " It will be the best Common Wealth G ames ever. It will be better than the Beijing Olympics " .

The first step towards this is ensuring the strict implementation of the Right To Information and providing legal protection to the information seeker. It will be the first step towards a better , cleaner India which we can all be proud off.

Why India is different ?

While  reading the Times of India this morning I saw a photograph, which made me smile and feel good about about being an Indian.

The photograph was of a woman covered  entirely in a black burqa except for her eyes. She was carrying a
boy - probably five or six years of age dressed up as the Hindu  God Krishna with his body painted blue and and on his head was a gold colored band with a peacock feather - the popular image associated with Krishna. Obviously they were off to a Janamasthmi celebration . In any other country in South Asia or the Middle East, a fatwa would probably be issued against her.

The New York Times recently had an article about the Golden Temple at Amritsar which talked about non- Sikhs who visit the temple regularly and voluntarily  participate in the cooking and serving the communal meals. The Sikh holy book has quotations and hymns  from both Hindu and Muslim saints  - a fact probably not known to Muslims outside India. Similarly you have people of other religions visiting the Dargha at Ajmer or that of Hazrat Nizamuddin in Delhi.

This ability to accept foreign cultures and religions, assimilate them and live in tolerance with each other is what makes India so different. Yes we do occasionally have some religious fundamentalist - Hindus, Muslims,Sikhs who  instigated by politicians  try to cause trouble, but overall for the most part we live in harmony, celebrate and participate in each others festivals.

I cannot think of many countries in the world which have senior political, defense personnel or bureaucrats who are of a religion different from that of the dominant population . In India  the President is a Hindu, the Vice President is a Muslim, the Prime Minister is a Sikh and the most powerful person behind the throne is a Christian . The President and the Congress Party Supremo are both females.

No country in the world can beat that !!

Cutting the Gordian Knot of Building Highways in India

The biggest challenge faced by the government in building world class network of highways in India is the land acquisition. Along with the outmoded laws, there area myriad of obstacles to be faced by at the state level in acquiring the land.

One way to solve the problem is perhaps to look at who is the biggest land owner in the country ? It is the Railways and they have access to the heart of the cities, to the states, to the rural areas. Railways needs the funds. Perhaps the  National Highway Authority of India can reach an agreement with the Railways for the air rights over the rail tracks and build a highway on top of that. The Highway Authority and the Railways can then both share the revenue. After all the government keeps talking about Public- Private partnership- why not a Public- Public partnership ? Its a win- win situation.

It is not as crazy as it sounds. There are bridges in the United States which have double decks with trains running on one level and cars on the others.

Similarly the  Hong Kong infrastructure visionary Gordon Wu of Hopewell Holdings Ltd, had a plan to do the same in Bangkok, but which got bogged down in politics. When you drive out of the Bangkok airport and look at the rail road track which runs parallel to the highway, you will see a series of pillars which were meant to support the abandoned highway.

With today's technology , nothing is impossible. All it requires is the will to make it happen and a little imagination !!!

The Solitary Indian

The August 22nd Times of India had an article by Anil Dharker about the  setting up  of a Symphony Orchestra of India, in which Zubin Mehta expresses his view as to why  Western classic music has not flourished in India. He feels that is because "We have another great stream !Hindustani and Carnatic music have such deep roots in our country that, perhaps, we didn't feel the need to look at any other musical tradition." He goes on to contrast the difference between Western and Indian classical music. "In the former a large group of individuals come together to form a cohesive whole ( say a symphony orchestra) and individual brilliance submerge itself in collective excellence ..... Contrast that with Indian music where individuality is supreme. ... Instead there is the soloist alone..."

This pretty much sums up the  Indian psyche. The  Indian sportsmen or sportswomen,  who have done well in world championships are individual athletes, whether it is in the form of shooting, wrestling, boxing, badminton, tennis, golf, chess, billiards and so on. Yes I know some of you will argue, what about cricket ? Apart from Dhoni or Tendulkar who might put the team before self, Sehwag, Yuvraj could not care less when  they go out to bat.

Also one often gets asked  as to why Indians excel as managers both  domestically and internationally, but yet we cannot build our infrastructure or institutions to speed up our economic growth.It appears that when the individual  manager is judged on his performance,you perform well, but when you are part of the monolithic government and there is no evaluation of  your performance, both positive or negative, the worst comes out.

You reluctantly  have to come to the conclusion that in India we put ourselves first before the country, or team  and this shows in our attitude and behavior in the street, in government and politics. While individuality is to be admired, there has to be a balance between self and the greater good in being disciplined or following the rules. This has to be inculcated at the school level - only then will we change.






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Why is the world being niggardly towards Pakistan?

Why has the global  response to one of the worst calamities in the last fifty years been so lukewarm ?Almost one quarter to a  third of the country has been affected and almost 20 million people  are suffering and yet the response appears to be less than what was offered to the tiny island of Haiti or Sri Lanka during the tsunami?

Whatever the world might feel about the rulers of the country , it is time to focus on the human suffering and not play politics. By showing how the world leaders can rise above the political issues, the rulers might get the message that the world does care about Pakistan and will do whatever is necessary. After all the Americans helped rebuild Germany and Japan after the world war, during which  millions of people were killed. Let us again show them the big bigheartedness and provide the necessary support to avoid future deaths of the children and babies who are the most vulnerable and which will likely happen unless the aid effort is stepped up.

Race,Religion and Politics - Politics

What takes precedent Religion,Race or Nationalism ?

I started thinking about this while watching Fareed Zakaria on CNN, interviewing a firebrand British Islamic preacher whose parents probably came from the sub-continent. It was not the first time that this question arose in my mind. Although born and brought up in the United Kingdom, his sympathy lay completely with the Jehadi's. His argument was that as along as any Muslim was being persecuted anywhere, Muslims around the world should unite and fight shoulder to shoulder against the non-Muslims.

This argument is not being made for the first time. After all the Crusaders used the argument to try and conquer the Holy Land from the Muslims.You had the French and the English uniting in a common cause. Yet a few centuries later you had the Spanish Catholics fighting against the English Protestants who had separated from the Vatican. Centuries later you had Germans fighting against the British both Protestants.In Northern Ireland you had the Catholics vs the Protestants. In Asia you had Central Asians warlords and adventurers all Muslims fighting against each other and with the Indian Rulers, all Muslims.The Mughals rulers used Hindu Chieftains to fight the Muslim invaders.The British used the Sikhs and Gukhas to subdue the remnants of the Mughal empire.

Why is it different this time ? To the world the message is that we are fighting for our oppressed brothers, yet the persons making these arguments then resort to killing Muslims within their own countries, because they belong to another sect ( Shia's, Sunni's, Ahmadi's).In Punjab you have the Sikhs and some sub-sects killing each other. What are they fighting for ? Who is the oppressor and who is the oppressed ?

You reluctantly have to come to the conclusion that its not about religion nor is about nationalism, or race.Its all about politics. Politicians in the garb of preachers,priest or the Ku Klux Klan,using religion and race when it suits them to grab power and ultimately amassing wealth.The fires are being stoked by vested interests within their own country or by external parties and using the brain washed believers as the cannon fodder.

The hight of absurdity in advertising

This has to be the most ridiculous pitch for a product. The latest pitch for the Dove underarm deodorant emphasizes that apart from keeping them odor free it keeps them fair - with the models all raising their arms to show their fair underarms. What next - skin whitening cream for the sole of your feet !!!

Killing two birds with one yuan

Recently there have been news items about how China has limited its purchase of US Treasuries. Also that it has started purchasing Japanese JGB's and Korean and Malaysian Ringgit Bonds. To the best of my knowledge foreigners are not allowed to buy Chinese government yuan bonds.

On the face of it this is a prudent diversification move on the part of the asset managers who manage China's $ 2.5 trillion in reserves. However if I was into conspiracy theories, I would say that China is using its reserves to drive up the yen and won making it more difficult for the Japanese and Korean companies to compete against Chinese companies.This will also allow China to lets its currency appreciate a bit to take the heat off.

Perhaps too simplistic a view ?

I am responsible for the mess in India ?

The night before last, I came back from Singapore on one of the small jets used by Jet Airways on this sector.Now that one has gotten used to the flat beds, it is difficult not to complain when you do not have one.

The flight arrived on schedule at 2:00 am and was at the air bridge within a reasonable time. I reached the immigration counter and handed my passport. The person concerned quickly put the arrival stamp on it.

He then noticed that I had an expired visa from Lesotho, where I had gone in June to visit my son. He started examining it. Looked at it intently. Then held up the passport under the light. Not satisfied he held up the page against the light. I waited patiently for one, two, three, four minutes and finally said, " Is there a problem ? Perhaps I can explain ? " That seemed to offend him. He went on a tirade , saying it was his job to examine the passport. "People like you don't mind standing for two hours when you go abroad, but complain when you come back ". Tried to tell him that the Singapore immigration took precisely two minutes to clear me with a smile. His response convinced me that there was no point in talking further. " Its people like you who are responsible for the mess in the country ".

Did not know whether to laugh or cry ?

Why dont we pay attention to Indonesia ?

Why is that we as a country do not view Indonesia as we do other countries either for business or for visiting as tourists.


From a business perspective, apart from a handful of enterprising business groups such as the Lohia's and the Aditya Birla Group and lately Godrej and Tata, our business houses particularly the up and coming groups are focusing on Western markets and have largely ignored Indonesia.

They do not seem to realize that Indonesia has a population, which at 234 million is the fourth largest in the world.Like India the demographics are in its favor and is similarly going through the same issues as us.On top that it is blessed with an abundance of natural resources and a friendly population which in general are favorably inclined towards India . The Japanese, Koreans and Americans have been investing in Indonesia for decades. Indian investment in Indonesia is minuscule.

Looking at my crystal ball, the economies in Asia which will matter two, three decades from now will be Japan (although its share of Asian and Global GDP will continue to decline), China, India, South Korea (probably will merge with the North sometime in the future)and Indonesia. Yet the government is not paying attention to it either politically or economically.

Java was ruled by Buddhist and Hindu kingdoms until the 14th century when the Javanese converted to Islam.While the bulk of the population is now Muslim, it does share a Hindu and Buddhist heritage.Hinduism continues to be the religion of the Island of Bali. The stories of Ramayana continue to be heard and enacted in theatrical form or in puppet shows.The Buddhist temples of Borobudur are a UNESCO heritage site and Vesak is still celebrated there.

As a tourist destination, Thailand and Malaysia continue to top Indonesia.It is probably because because there are more flights to Bangkok and Kuala Lumpur than there are to Jakarta. Indonesia offers as many scenic places to visit as Thailand and Malaysia. I have been to Bali many times over the years and it is magical.There is a thriving arts scene there which has attracted artistic minded people from all over the world since the thirties. Indonesia has mountains, beaches and volcanoes which are just as good if not better than other countries in South East Asia.

At the risk of sounding like a paid tout for the Indonesian Tourist Department and the Indonesian Chamber of Commerce, I say you don't know what you are missing until you have been there.

Sports is the new religion

The recent World Cup and the enthusiasm it aroused has amazed me. In India of course cricket is the religion and in my mind soccer is a close second, despite the fact that India does not have any soccer team or player of any significance.

Over the last few years I have found that people follow the UK or European soccer teams with such passion not just in the home country but in far away places which have no direct connection,but where the population is as knowledgeable about certain teams and players as their own country inhabitants. According to the media in India, the Bengalis in West Bengal are as passionate about the Brazilian team as the Brazilians themselves. It used to be the dream of every budding billionaire from the emerging markets to make movies in Hollywood.One can understand that as this is a way ( expensive perhaps) to get meet the starlets. But now every emerging market billionaire from Russia to India to Thailand wants to own a football club in the United Kingdom.

The passion about this game cuts across all race and religion and I would not be surprised if the Taliban fighters in the mountains of Afghanistan had special satellite connections and were watching the World Cup matches and cheering for their adopted teams.

Instead of spending billions of dollars on weapons , the world should set up soccer ,cricket and other sports clubs all over Afghanistan, Iraq and other areas. Sports is the new religion and the ruling deities are Messi, Ronaldo, Tendulkar among others. Have clubs which are allowed to hire from other countries , so you can have mixed teams from different countries, race and religion.

Australia and Indian cricketers used to have verbal jousts every time they played ,with the media playing up every slight and gesture. Since the Australians started playing in IPL teams and spending some time in India, there seem to be fewer such incidents.This convinces me now more than ever that the solution to many of the problems is to have people meet on the sports field rather than the battle field with a much lower casualty rate.

Race,Religion & Politics - Religion

In my blog of July 4th I referred to a op-ed column highlighting the fact that if Elena Kagan was nominated, the Supreme Court bench of the United States would consist of six Catholics and three Jews. What it did not mention was that it also had Hispanics and blacks, perhaps proving the point, at least in the United States, race was becoming less of an issue, but religion still is.

Interestingly enough,this is also true in the higher echelons of the Christian Church hierarchy as the number of Catholics, and non – Catholic Christian denominations in Africa and other emerging markets gradually start to outnumber those in the West. You are now beginning to see the diversity of races in the College of Cardinals at the Vatican and it is a matter of time before you have a black or brown Pope.

I do not claim to be well read or very knowledgeable about religion, but from a layman’s perspective , apart from Hinduism & Buddhism, the three other major religions Judaism, Christianity ,and Islam classified as Abrahamic, are all monotheistic, the belief that there is one God or Supreme Being. Yet preachers from the later two religion over the centuries have chosen to convince their flock that the path they preach is the only right path and all other roads lead to hell and perdition.

The Indians brought Hinduism and Buddhism to Asia, the Arab traders, the Mongol invaders, the Turks brought Islam to Asia, India and parts of Europe. The Europeans brought Christianity to most parts of the world as conquerors.

An observation worth noting is that while Christianity and Islam seem to have followers among all races, white, black, brown and yellow, the religions which originated from the East, Hinduism and Buddhism tend to be predominantly among the Asians (brown or yellow) – expect for a relatively small number of people in the West who have adopted Buddhism or Hinduism. Why is that the case?

The answer perhaps is that the diversity resulted from the forced conversion by the Christian and Muslim adventurers / invaders whether they were in Asia, the America’s or elsewhere. The adventurers were followed by the priests or where the rulers were religious insisted on the segments of the population being converted whether it was the Mongols (or Moghuls as they got to be known) in the sub-continent, the Spaniards or the Portuguese in South America and the British and the various European colonial rulers in Africa and the rest of the world. The religions from the East did not insist on forced conversion.

The Europeans brought Christianity to the countries which they colonized. They built huge edifices in the form of Cathedrals and Churches wherever they went. The migrants to the West are now bringing their religion deep into the European cities and instead of forcible conversion which happened in the past, there is no such attempt, yet when ever a new temple or mosque is built in the cities in the West, it causes unease. But with the minorities gradually increasing in numbers this too shall pass.

After all at one stage even in the United States, Catholics and Jews were treated with unease. Now the above mentioned headline from the New York Times says it all.

It is a matter of time; this will be true for Hindu's, Buddhist's and Muslims. In case anyone has forgotten, President John F. Kennedy was the first Catholic President of the United States of America, elected in 1961, almost 175 years after America gained its independence. This despite the opening lines of its Constitution reading We hold these truths to be self-evident, that all men are created equal.

Obviously things have changed since then. In two of its most conservative states, Americans have elected (one already a Governor, the other potentially could be) two people whose parents were of Punjabi origin, but who converted to Christianity at an early stage, then hopefully the time is not too far away when the United States will again lead the way by electing a President who is a Jew, Hindu or Muslim.

Wine - The New Conspicous Consumption Item

Upfront disclosure - my palate cannot differentiate between a $2000 bottle of Lafite Rothschild or any other Bordeaux First Growth and a $30 bottle of Australian Wolf Blass. I cannot tell if the wine has " a velvety texture, and notes of spring flowers interwoven with camphor, melted licorice, creme de cassis,and pain grille. Not a blockbuster, it offers extraordinary intensity as well as a surreal delicacy/lightness " - Robert Parker's tasting notes of the 2003 Margaux or any of the other wonderful things which the wine tasters are able to detect with a sniff or a sip. My interest in wine is from the perspective of looking at it as an alternative investment.

Years ago a friend from Hong Kong gave me some advice on investing in wine. It sounds easy -provided you have the patience.I have yet to follow it - but have been tracking how wine investments perform. His logic was very simple. Focus on the top end, particularly those from a good vintage, buy and sit on it.If you do not need the cash leave it for your children. The prestigious estates produce a limited number of cases every year. With the yearly consumption the number of cases available gets fewer. If you are a wine aficionado or an Investment Banker , or a Private Equity Fund Manager , celebrating the closure of a very successful deal, you don't mind spending a few thousand dollars (euros or pounds) for a couple of bottles over dinner to indulge yourself or to impress your dinner companions. As the stocks keep running down, the price keeps going up. Sounds too simple?

Even better, there are a number of individuals and some magazines who rate most of the wines produced, at least from the known vineyards. The single most influential person is an American, Robert Parker ,who started scoring wines more than thirty years ago. His 100 score is the equivalent of a perfect score.His rating has the ability to move the market for a particular Chateau. The others are Jancis Robinson who also writes for the Financial Times. The Wine Spectator magazine is also influential. For Burgundy wines there is Burghound.com. There are others. The big brokers from the United Kingdom, Barry Bros. & Rudd, Lay Wheeler, and Bordeaux Index and others all have their own tasters.

The United States and the United Kingdom were the biggest market for French wine but that is beginning to change. The Far East, particularly China has now developed a taste for fine wine and is having a significant impact on wine prices.

When I first moved to Hong Kong in the mid-seventies, the drink of choice for celebrations was Cognac. The more expensive the better. The most expensive Cognac would be ordered and then coke mixed with it. That was however a long time ago. The Hong Kong glitterati palate is now much more sophisticated.Investors from Hong Kong, including some of the top business men probably have the world’s best collection of rare wines. A few years ago the senior government bureaucrats, who enjoyed a good bottle as much as anybody else, decided that the revenue generated from the duty on wine was not worth the effort in collecting it and decided to exempt it from all duties. The result is that Hong Kong is now the biggest auction site/market for French wines.

As an indication of the serious interest in wine, when I left Hong Kong in 2005, the expensive wines - upwards of Dollars One thousand were kept in cabinets under lock and key, but now you can walk into any upmarket super market or a wine shop and you will see these wines lying on the rack.You will not see that in a average wine shop in London or New York.


In the meantime in China you have the new rich who have decided to follow in the footsteps of their Hong Kong cousins.China is now a rapidly growing market for the top end, with Lafitte Rothschild being the favorite. Not sure why, but perhaps the association with the Rothschild’s – the wealthy French-English banking family. This has driven the prices through the roof. A few years ago you could buy futures (in barrels before they are bottled) of a good vintage first growth with a Robert Parker score in the high nineties and with delivery a couple of years later, at around three and a half to four thousand sterling. This year the 2009( supposedly a very good year),Lafite Rothschild-China’s favorite wine, was priced at approximately eleven to twelve thousand sterling and is now reportedly trading at around over thirteen thousand a few weeks later.


How long is this euphoria going to continue? China’s middle class and the upper class is expected to keep growing, In the meantime their neighbor across the Himalayas, India is also developing a taste for wine (although whiskey and particularly Scotch is still the preferred drink). Stir in the need for one up man ship, particularly in North India and over the next few years, you will see these prices getting a boost.

If any of you have the desire to ride the tiger there are wine funds managed by some of the wine brokers. Alternatively you can invest in futures or buy physicals through the brokers who will store it for you. If you truly want to be one up, the wine brokers can probably locate a case or two from a good estate from the year you were born.

The consolation prize, if your investments don’t pay off is to drown your sorrows with your loved one, by drinking the damn thing. What was the line from Omar Khayam ?

A Jug of Wine, a Loaf of Bread--and Thou
Beside me......

Displaying Our Common Heritage

I just read a news article about the museums in Taiwan and China working together to track down some of the missing Imperial Treasures. Apparently these are part of the collection of the Imperial Family accumulated over the last 1000 years.

Initially the effort was to hide the treasures to prevent it from falling into the hand of the Japanese invaders.The collection was packed into tens of thousands of wooden cases and hidden in the country side. Subsequently when the war ended and there was dissension between the Nationalist , headed by General Chiang Kai-Shek and the Communists by Chairman Mao Tse-Tung, the Nationalists shipped off the prime pieces to Taiwan when it declared independence. The museum was built into the side of a mountain. I remember visiting it in the mid-seventies. Some of the exhibits were exquisite.

Now that relations between Taiwan and China are improving, effort is being made to track down the missing pieces. It is after all a common heritage.

Reading about it made me wonder why the countries in the sub-continent do not make an attempt to at least display and share our mutual history. Can the museums from India, Pakistan, Bangladesh ( and perhaps Nepal and Sri-Lanka as well),not put on a display on a common theme in our respective countries or even a traveling exhibit shown in other countries. The political issues can be sorted out later. Much as we like to pretend we are different, we are children from the same womb and have much in common culture, history, race and religion.

Race,Religion & Politics - Race

I have often read that these three subjects should be avoided since they arouse so much passion. My intention here is not to arouse any controversy.

My decision to write on these subjects was initiated by an op-ed article in the New York Times ( June 25th,2010) The Triumphant Decline Of The WASP by Dr.Noah Feldman a Harvard Law Professor who pointed out that " five years ago, the Supreme Court, like the United States, had a plurality of white Protestants. If Elena Kagan .... is confirmed, that number will be reduced to zero, and the court will consist of six Catholics and three Jews". Interestingly it makes no mention of the fact that the panel now has Blacks and Hispanics , which would not have been possible a few decades ago. With Barrack Obama as the President, Bobby Jindal as the Governor of Louisiana and potentially Nikki Haley as future Governor of South Carolina ( two of the most conservative states in the United States with regards to race)it is becoming irrelevant in the United States.

Over the next fifty years with the dynamics of the world changing, not just from a wealth point of view but also from a demographic perspective,the issue of race (and probably religion)globally will become less of an issue than it has been for few centuries.

First on the issue of race. Why do you have racism? In my opinion racism is a result of migration ( either willing or forced). It results from the influx of people seeking wealth ( in the form of adventurers or conquerors )or those who were forcibly brought to provide cheap labor. To quote Willie Sutton the American bank robber who when questioned why he kept robbing banks, replied simply "because that is where the money is "The adventurers from Europe, went to the America's, Africa and Asia because that was where the wealth was. Similarly a few centuries later, the migrants from Asia and South America went to the United States, United Kingdom and Europe because that was where the money was.There will be some who will argue that American was settled by the pilgrims who wanted to avoid religious persecution, but the real wave came, as word went around that there was a lot of land and other riches to be obtained.

India or perhaps I should say the Indian subcontinent has had invaders ( from Alexander onwards ) most of whom came, conquered, settled down and blended into the local population.Their religion and cultures where accepted and adapted to suit India. Similarly the first wave of European adventurers came and adopted local customs, married locals and settled down.

In other areas such as the America's and Australia, the adventurers from Europe came and settled in the sparsely populated land mass, but in the process the native population were reduced to a minority.In Asia and Africa the numbers were just too large for that to happen, although this was attempted in some parts of Africa such as Zimbabwe and South Africa but were unsuccessful.

Race became an issue when the European countries started colonizing the world. The relationship between the rulers and the ruled transformed into a master – servant (or slave) relationship. The Caucasian’s were seen as the superior race because they ruled over countries which were populated by black, brown and yellow natives. As if this was not enough the colonial rulers complicated matters further by the forced “migration” of people , either in the form of slaves ( blacks to the America’s) or Indians as bonded labor to the certain sections of South America and the Indies, East Africa , Fiji, Mauritius, Malaysia and Sri Lanka. Let’s not even go into unilaterally drawn boundaries creating countries with total disregard to tribal, ethnic or language origins, thus creating pockets of minorities in countries around the world.

The second wave of migration was effectively the “economic “ migration which resulted from the boom following the Second World War. It created a shortage of workers and the United States and Europe. It opened the doors for migrants to come and work in jobs which the locals were not interested in doing – in fields or the factory floors. Added to this was the flood of illegal migrants who came to escape the upheavals in their countries or simply to seek a better life for themselves and their children. Gradually this was followed by the migration of educated professionals. Their descendants, combined with the fresh flow, have reached numbers which are now causing concerns among the white population that they would become a minority in the future.

It is estimated that by 2050 you will have the browning of America and whites will be in the minority. There is also concern among certain segments in Europe that they might be following a similar pattern. According to estimates, in the United Kingdom the whites will be in the minority in a dozen cities by 2027. White Norwegians are expected to become a minority in their own country by 2021.One could probably look at similar statistics in other European countries.

When this happens or even before,one would hope it would be the end of racism and as an issue it will cease to exist.

Indians of American Parentage in US Politics

A lot is being made out of Americans of Indian parentage raising their profile in the United States political scene. Bobby Jindal being the first American of Indian parentage being elected as the Governor of Louisiana and Nikki Haley being the Republican candidate for Governor of South Carolina. What is interesting is that both of them belong to the Republican party and these states are very conservative.Does not quite fit the image of the Republicans being the conservative party. What has happened to the Democrats?

A little known historical fact which I am surprised that the Indian newspapers do not mention when they write about children of overseas Indians doing well, is that the first Asian American Congressman, Dalip Singh Saund,was of Indian origin and was born in Amritsar. He went to the University of California, Berkley, for post graduate studies and stayed on. The Democratic candidate was elected from California to the United States House of Representatives in 1955 and served till 1962 when a severe stroke ended his political career. Coincidence that all of them are of Punjabi origin .

Drama on the sports field

Over the last few weeks I like hundreds of other million viewers, have been watching the soccer World Cup Matches. In between I have also been watching Asian cricket series between India, Pakistan, Sri Lanka and Bangladesh.

First of all I confess that I am not much of a sports fan. I rarely ever watch soccer matches. Cricket only when India is playing.

Cricket used to be a gentlemanly game but has become increasingly competitive. While the sledging between Australia and England has been often been written about, until a couple of years ago, in almost every match between Australia and India, there would be altercations and heated words would be exchanged. In the recent India Pakistan match again there were heated exchanges between the players and the referees had to intervene.

While the posturing was amusing to watch, it is nothing compared to what goes on in the soccer field. Players elbowing, tripping, kicking shins, pushing or pulling other players were par for the course in almost every single match. And of course the drama queens ( there should the equivalent of a faker of the match award for the player who was the most convincing in faking a serious injury and being allowed to get away with it ) for the players who would lie spread eagled on the ground holding on to their face, eyes, legs, stomachs until the referee gave his verdict and the next minute they would have a miraculous recovery.The offender on the other hand with the expression "who me ? your eyes must be deceiving you"look on his face is amusing to watch.

I guess this is what adds to the excitement of watching live sports. However from my perspective I have failed to understand how you can enjoy a sports event sitting on the 40th row with the players being relatively dwarfed, and not being able to view the critical shots. I would much rather prefer sitting at home in an air conditioned room and viewing the game on television. You can see the close up and replays of the goal or a cricket player being clean bowled.

However my friends who are into sports look at me disparagingly and say you don't understand the rhythm , the excitement and the camaraderie of watching from the stands - even if you are not wearing the increasingly weird "loyalty"costumes which the fans wear these days. The painted faces remind me of Mel Gibson in Brave Heart,waving their county flags,but instead of swords and battle axes, they have their vuvuzelas.

Well I guess to each his own.

Indians succeed at home just as well as they do abroad !!

Yesterday I once again received a chain email which has been making the rounds for the last seven years or longer, about how well Indians do overseas. It mentioned about Rajat Gupta(ex-Mckinsey) Victor Menezes( ex-Citibank) Rana Talwar(ex-Citi,ex-Standard Chartered ) and so on. I think it was originally written by a journalist and has been picked up and circulated since then. The point being made was that Indians only succeeded when they are out of India and freed of restraints, they suddenly blossom.I am sure the latest version will probably include Nikki Haley and Bobby Jindal, who are Americans of Indian parentage, but as a friend in marketing once said " why let facts spoil a good story ".

Obviously these people have not been visiting India to see the changes which have been happening. If you compare the list of 50 industrialists and the industries they were from ninety sixties to that of now you will find a tremendous change. My guess would be that only 25% (if that) of the names remain the same. The others are new and most of the industries they are new as well. It used to be textiles, tea, some heavy engineering. Now its real estate , software, entertainment, petroleum, telecoms.The majority of these new generations are self made or perhaps second generation like the Amabani's but who contributed to the accumulation of the family wealth.

Yes we all know how difficult it is to operate in India, but these new generation of business men work within the same system and know which buttons to press and which politician and bureaucrat to "lobby" and have succeeded and are now among the richest families in the world. In the past they would have been labeled as beneficiaries of the the License Raj, but this is no longer the case. This new generation is no longer confined to the Indian borders. They are spreading their wings both to the east and west.

Even among professionals who have done well are not just those who remained abroad after completing their studies. A lot of them got their initial boost while still working in India, stood out and were then sent overseas by their employers. These include, Victor and Rana. In addition you have V Shankar and Jaspal Bindra from Standard Chartered, Haresh Manwani and Manvinder Banga of Unilever, Ajay Banga of Master Card and the list goes on and on.

The common complaint about why things in India don't work ( Infrastructure) is because " we are a democracy" does not apply to these people.They have succeeded in spite of us being a democracy.

What these critics fail to understand is that every country goes through a transition. The UK went through it during the late seventeen hundreds and early eighteen hundreds and the United States in the late eighteen hundreds and early nineteen hundreds.Read Charles Dickens and about Tammany Hall politics in New York to find out how rampant corruption was among politicians and the judiciary.

Where I do agree with the critics is that with the flow of information and with the level of education and an active media,the pace of change for the better is way too slow. It should be faster.

Fortunately India is in the sweet spot, which happens not just once in a lifetime but probably once every few centuries. There are so many opportunities to make money that people who are in a hurry will cut corners and seek an easy solution as they did in London and New York. Unfortunately when you are making 100 percent, you don't mind parting with 10-15 percent to move things along faster.I am not condoning it.I am merely stating a fact.

Regardless of what we wish for, I would argue that there is not a single country in the world which is totally free of corruption. Its a matter of degrees and form. One is sometime amazed at the level of petty corruption ( in India we are desensitized to this ) which you see in other countries.Members of Parliament in our former colonial masters have been to known to raise questions on your behalf for a few hundred quid. Also a large number of them have been caught out fudging their expense claims for petty amounts.Yet most of these MP's have gotten off scot free or or a mild rap on the knuckle. Compare that against a corrupt policeman in Bihar or Delhi with a family of five who probably earns a few thousand rupees a month .Who would you sympathize with ?

In the United States significant election campaign donors get rewarded with plum ambassadorial posts or political appointments. Lets not even go into the pork barrel projects in the United States of the Senators and Congressmen which ensure their re-election. Is Mamta Banerjee doing any thing different when she locates projects in West Bengal? Its all about the vote bank honey!!

See http://www.economist.com/node/16380025
If you are unable to access it , read the Economist June 19th-25th, Page 38th, Column " Money from Wall Street "

The only difference between India and other countries is that some of these process are formalized. Also once the wheels are greased you achieve your objectives. In India that might not be the case and might require the equivalent of a couple of " Patiala Pegs" .

Shampoos , Deodrants & Skin Whiteners

Every day when I switch on the television,the majority of the advertisements seem to about three products, shampoos,deodorants and skin whiteners.

Each of these products seem to have a common theme and appear to make claims which on the face of it, appear to have no basis. Perhaps they have done studies to back their claims ?

The shampoos all focus on the hair being long & strong or on dandruff. I can understand the dandruff advertisements but the I am skeptical about the other claims - five or ten time stronger - against what ? What is their benchmark ?

The advertisements show the models constantly tugging their hair to prove how the shampoos have made their hair strong. There is even one extreme where a friend of a young woman ties her hair to a huge stone block which forms part of a drinks counter. When she moves the stone block gets dislodged and falls down. Now we all know Samson's secret. Perhaps Delilah just had to hide his shampoo rather than cutting his hair and blinding him. Also they could increase their market share in Punjab by using the tall good looking Sikh guys for these advertisements and make them do feats to prove their long and strong hair.


The other interesting advertisements are about deodorants.All you have to do is is spray it and girls fall all over you.The guys have trouble pushing away the girls. Incredible !!! Does it works on older men without the six packs ? I guess my wife does not want me to find out and makes sure that that I never run short of my Gillette gel deodorant !!

The skin whiteners are not just limited to India, I have seen advertisements for these creams all over Asia, but in my view India is probably the largest market. All the matrimonial advertisements here want girls with wheatish complexions. Maybe an opportunity here for a new series for a long term use ad-campaign. Just like the advertisements for educational loans or for marriages, there could be one -if you start using xxx brand skin whitener at an early age and you will become Snow White.It will help you get a rich, handsome prince when you grow up.

Among all the different NGO's which exist there is perhaps an opportunity for a "Truth in Advertising " NGO. They will have their hands full.

Why dont our politicians say sorry ?

Is it just my imagination or is it that Indians generally don’t like to say they are sorry if they have made a mistake or done something wrong. I am not talking here about children. I am talking about adults and particularly politicians who are always in the public eye.

In America whenever a politician or a bureaucrat or a public figure ( Elliot Spitzer or Tiger Woods and even President of Obama,who said " he screwed up " in one of his appointments) does something wrong and I don’t mean just their sex lives.They dutifully appear on television generally supported by their families and teary eyed say how they are sorry that they have let everybody down. It is a public version of a Catholic confession, but instead of a hidden priest listening in, it is the world media. The American public generally is very forgiving and the individual is given a second chance, without the " Hail Mary's". There are numerous instances of that. As you will notice Elliot Spitzer is now slowly creeping back into the media.

In India the politician will first try to brazen it out, even where there is photographic or other recorded evidence. They will claim these were all doctored or that it was a part of a conspiracy against them, even when they are seen in the photographs with bundles of cash in front of them ala the Duchess of York.She at least had the grace to plead poverty as the reason for influence peddling. To claim poverty might be difficult for some of our politicians – might not get a ticket to stand for election next time.

Perhaps it might be easier for them to do it the American way and go public and acknowledge it. Recently a senior politician was filmed in bed with three women one of whom was reportedly pregnant. He did what all Indian politicians do. Denied it, said the photographs were doctored and so on.

Instead he should have admitted it. He should have said " even though I am eighty five years old, I have needs which one women cannot satisfy and hence I was in bed with three women or a holy man said that I needed to go to bed with three women and one of them had to be pregnant because of my health ".

He could have become the male icon and probably be forgiven. George Clooney, Brad Pitt, Hritik Roshan would all have to stand aside. He could probably even get advertising endorsements from Viagra with the slogan " You keep going when everyone stops " like the Eveready battery operated bunny who still keeps going when bunnies with other batteries stop.

Fascination with Japan

My fascination with Japan began in the nineteen fifties, when my father's company was the distributor for some Japanese electronic companies for Burma or (Myanmar). Japan had just started exporting. He used to go there quite frequently and every time he went there he would return with toys. Remote control cars, robots and of course pocket transistor radios. They were the first Asian country to manufacture sophisticated products. One particular incident sticks to mind. While he was there he had ordered a mail delivery of a remote controlled car. It did not arrive for a few months. He wrote to them. Within a few weeks we received two of them. It showed their commitment to customers.

The interest in Japan was revived when I arrived in Hong Kong in 1975 to start working with Citibank. While browsing in Ocean Terminal, I entered a shop called Mountain Folk Art. Among the many interesting things was what looked like a water color painting, nicely framed in a black oriental frame. I asked the sales person about it.He explained that it was a Japanese wood block print. Fortunately it was within my meager budget and it livened up my tiny apartment. Many years later I found out that my first purchase turned out to be a print by Hiroshige one of the best known wood block artist’s in the 1800’s.

Over the years my interest in Japanese arts and crafts increased , particularly in wood block prints and Japanese export silver where I think the craftsmanship is better than Chinese export silver but the production was limited. You will find numerous books about Chinese export silver but none on Japanese export silver.

I purchased prints by different artists including a French Japanese artist Paul Jacoulet and some prints by Okamoto and others.The purchases were from Hong Kong , Tokyo, London & New York.It might sound difficult to accept but in opinion I paid less for Japanese silver in Tokyo than I did in the other cities. Perhaps it is not appreciated there as much ? Not knowing enough I probably over paid in some instances, but I have no regrets.

I discovered that ukiyo-e by artists such as Hiroshige and Hokusai with their vivid colors have had such a strong influence on Western painters , particularly French impressionists ( “Japonism”) painters such as Van Gough and Gauguin or even lithographic artists such as Henri de Toulouse-Lautrec. Perhaps because of the connection, during the peak of Japan’s economic boom, Japanese companies and collectors were paying over the top for Impressionist paintings.Even in India in the early 1900’s, the emerging modern painters particularly from the Bengal School tried to paint in the same style.

In addition to the wood block prints,I am fascinated by traditional Japanese architecture and Japanese gardens. With their minimalist approach and their harmony with nature, I have always wanted to have some elements of Japanese architecture and gardens in a house I was planning to build ( that's another story). Unfortunately with Delhi's security, its harsh summer and not having Larry Ellison's billions, I have had to settle for the local version of Shoji panel sliding doors in my apartment. The closest I have come to blending the two is purchasing some Yoshida Hiroshi's woodblock prints which were made when he visited India during the nineteen thirties.

Even now when I visit Japan I am fascinated by Japanese arts and crafts. While Chinese arts and crafts are exquisite, the Japanese take it a step further – whether it is netsuke or samurai swords, porcelain or any other crafts. No other citizen takes as much pride or as disciplined in what they do as the Japanese. A small example. When you go to a Department Store – Takashimiya or Mitsukoshi or any of the others which are still around, no matter how small the purchase, the sales girl ( or two) will go to great lengths to wrap it by folding in a series of complex “origami” type folds.


The question in my mind is that with the urbanization of the country and the graying of the population , will these skills be passed on to the next generation.Will the younger generation have the patience to go through the apprentice which would normally be required ?

Certainly on the print side, it still seems to to be the case, with prints being modernized and foreigners now getting involved,but what about the other master craftsmen.I am probably not aware or know enough about what is being done, but it would be a pity if a hundred years from now the only Japanese crafts you see would be in the museums.

Change the Rules When They Don’t Suit You

In my blogs of April 29th, I commented on The Volcker Rule and The Unraveling of the EU ?

I notice from recent news items that the German Government now wants to put limitations on hedge funds, naked short selling to limit so called speculators or speculative instruments.

It is ironical. In the 80’s and the 90’s when Asia went through their financial crises, the regulators and politicians from the European countries and the United States would visit and preach the free market gospel.Governments should not interfere in the free markets. Regulators should not control foreign exchange rates and the stock markets. They should allow the free flow of capital.

Hong Kong was berated when it closed down its stock market for a couple of days. Malaysia’s President Mahatir was cast as the villain who was taking Malaysia backwards when he imposed exchange controls. Also who can forgot the humiliating picture of IMF’s Michel Camdessus towering over President Suharto of Indonesia while signing the strict conditions imposed by IMF under the bail out. It brought to mind pictures of surrender documents being signed by the losing side during World War II. This when Indonesia’s currency had already devalued by over 500 percent. They insisted that countries should allow their banks to fail and that they had to swallow their bitter medicine if they wanted to seek the help of IMF (which the Koreans with their sense of humor, put signs as being short for “I am f****d “ ).

Now these very countries are doing exactly what they said should not be done. They are bailing out banks and corporates, placing restrictions on free flow of capital and controlling derivatives.

The Europeans are being optimistic if they think that by imposing such restrictions they will be able to able to control the behavior of sovereign nations, who while sharing a common currency will forgo their national interests.At the end of the day,the market players zero in on areas of weakness, like hyenas feeding on a wounded buck. If the politicians had managed their economies as they should have, there would be no opportunities for speculators. You might close one window, but in today's world other windows will be opened and fund managers will do what they are paid to do, if necessary by creating synthetic instruments aided by the banks.

Politicians in Greece and Spain are no different than politicians in Germany, France and the United States. They will do what they need to do to get elected. Look at the track record of countries in South America who have defaulted more than once . If two or three countries in the EU default simultaneously, do you see Chancellor Markel and President Sarkozy asking their voters to sacrifice their social benefits and health care programs to enable them to contribute a larger sum to the bail out fund ? That would be an end not just to their own political career but to their party’s chances of retaining power and perhaps the end of the Euro.

By contrast this time perhaps the Asians were smarter. The Asean market countries have not rushed to have a common currency and to open their borders. They are getting there step by step , initially by working out trade agreements and other confidence building measures. The Asian tortoise will eventually build its own structure which suits their political and economic needs and at its own pace.

The Greek crisis is just Act One,Scene One in the unfolding of the Great European Family drama which will unfold over many years. Will the German Bürgermeister, make the necessary sacrifices needed to keep Zorba dancing ? Keep watching this space....

South African Safari

Just returned from a relaxing holiday in Lesotho and South Africa with the family.

Highlights of the trip were the visits to two lodges and Cape Town.

The first was about a two hour drive from Maseru in Lesotho - Maliba lodge nestled amidst the mountains. Extremely peaceful. Great for hikers, but even for me it was wonderful. Unfortunately we were able to spend only one night
http://www.maliba-lodge.com/


The second was Ulusaba - an hours flight from Johannesburg. Situated in the heart of bush country. Had all the trappings of a safari with rangers and rifles mounted on the dashboard of their Land Rovers. Over all a bit disappointing. Had visions of seeing herds of zebras,wildebeest, lions and cheetah stalking impalas ala National Geographic television shows.When asked if they ever used the rifle , the ranger joked " only to shoot the guests".

Yes we did see lions,leopards, hippos, rhinos etc, walking alongside our Land Rover, as if going for an evening stroll. One felt sorry for the animals, because there were about 10 lodges or more in the 66,000 hectare game reserve and whenever a ranger spotted a "big five" he would radio the others and soon you would have two or three cars surrounding the poor animal, often in the glare of floodlights at dusk.Have seen bigger elephants and buffaloes on the streets of India.

The Stellenbosch wine country at Cape Town was beautiful and we are now fans of South African wine.

Over all the weather was beautiful cool and pleasant. It all ended when we landed in Delhi with temperatures hitting the mid-40's.

Punjabi Music Videos

Since I have been back, while watching television I get drawn occasionally to channels showing Punjabi music videos. They seem to be two different kinds.

The first kind which is likely produced in the United Kingdom and you have a combination of Punjabi and English lyrics. The male performers invariably wear dark glasses, have shirts open to their belly buttons, showing lots of gold chains. The women tend to wear short skirts and low cut tops. The style seems to be the bhangra ragamuffin ( fusion of reggae and bhangra) sung in Jamaican patios first popularized by Apache Indian. The singer's actions tend to be rap style index fingers pointing downwards, lots of zoom shoots particularly of women draped over
expensive cars and other accessories.

The home grown ones tend to be generally in rural settings, with a good looking guy supported by a group dressed in the tradition punjabi lungi and bright kurta's and hurt your eyes bright turbans with a roosters plume. The girl is dressed in a traditional salwar kameez with long hair and curls on her forehead acting coy with her group of friends. The music is provided by the dholak. While the lyrics might vary if you have heard one, you have heard them all as they all appear to be the same.

The interesting fact about the latter and which reflects the changes in traditional Punjab is that very few of them, if any, have full grown beards or long hair. Reflects the changing face of the Sikhs in the Punjab villages.The men want to be "modern" but they want their women to be traditional.

Bhale Bhale !!!Chak de Phate !!!

The Unraveling of the EU ?

The recent bail out of Greece by the IMF and EU members shows the weak link in the EU concept. The original concept of the EU market which allowed free trade was expanded to free flow of people and eventually a common currency. Until the dismembering of the old USSR, the concept was fine - but then EU started getting ambitious . They expanded and in addition to the Mediterranean countries also started opening the door to some of the former CIS states.

The problem is that you have a mix of economies. With Germany and France playing a dominant role they are being asked to carry the heavier burden of bailing out Greece. With their own economies just beginning to recover and unemployment still being an issue,the voters are reluctant to see the German ant supporting the Greek grasshopper. While this is the first time, it certainly wont be the last time. There is concern about the other PIIGS nations ( Portugal, Italy, Ireland, Greece and Spain) also requiring support. If this happens then you can be sure that the voters in Germany,France and the other stronger economies will throw up their hands.

Will this be end of the Euro ? Perhaps one is being overly concerned that the countries will be able to avoid default and the Euro will survive. However, the politicians have to give some thought as to how to deal with a possible default by two or three EU countries simultaneously. The possibility of this increases as EU encourages some of the smaller former CIS states to join in order to remove them from Russian's area of influence.


They will have to think hard before going ahead.

Volcker Rule

As part of the financial regulations reform , the US government is proposing the Volcker Rule named after the former Chairman of the Federal Reserve Bank. The proposed Volcker Rule prohibits banks,including investments banks such as Goldman or Morgan Stanley from taking proprietary positions or from trading derivatives.

This appears to be a rather radical step.I can understand banks who accept public deposits being prohibited from doing so.However if you do not accept public deposits or do not receive the shelter of the umbrella of the bank holding
company , then institutions should be allowed to trade for their own account.

The concern is the unraveling of the counter party risks as happened during the LTCP or Lehman situations where default by one institution lead to a domino effect.

I would argue that all derivatives should be exchange traded. While there has been intensive coverage of the losses of institutional investors who should have known better, very little coverage has been given to customers who were incited to invest in structured derivative products by their private bankers. Based on contacts in the private banking and friends, I know that private banking customers ( at least in Asia ) have lost a significant portion of their net worth by investing in these products.The only way out for them was by selling back to the bank - maybe ( who had sold them the product) at a price which they determine - and you thought only casino's have a house advantage !!

Also there should be a limitation on the size of the proprietary books as a percentage of their capital. After all the risk managers at the counter party banks, if they monitor their exposures carefully, will not ( or should not )allow them to exceed the equivalent of a single borrower/counter party limit.

The auditors and the regulators should insist ( subject to strict punishment) that these institutions clearly report the size of the proprietary books and the number of counter parties and the geographies they deal with.

Similarly the rating agencies in their evaluation should take this into account.

This by itself would imply a health warning for institutions who deal with them.

On the other hand if these institutions then choose to take positions on equity, commodities etc for their own books, let them do it. Their shareholders know what they are buying into. Caveat Emptor

Advertising

Yet another IPL TV Commercial showing blacks as bushmen.

This time its a Sprite commercial (a Coca Cola brand) showing two guys surrounded by bushmen with spears. One of them starts jumping around muttering some mumbo jumbo and supposedly causing offense to the tribal chieftain. His companion who is holding a bottle of Sprite offers it to him and becomes his best friend.

While I assume this is meant to be in jest, which world do the advertising agencies live in. What if the advertising agency in the United States shows the average Indian as fakirs lying on a bed of nails ? There would be a huge uproar and we would all demand an apology.

I am surprised that a multinational firm such as Coca Cola is not more culturally sensitive. Perhaps they should dub this advertisement in Swahili and show it in East Africa and see the reaction there. Pepsi would have a walk over.

Education – On the Right Track Finally?

Since he was appointed as Education Minister, Kapil Sabil has been a whirlwind of activity. He has tried to draw a balance between the pressure of school and the quality of education. Primary school education has become compulsory. The Board Exam for the 10th class has been abolished. Also recognizing that the government will not be able to meet the need of the young growing population, he has opened the doors to private sector, but in a much more disciplined way than was done previously. He is considering allowing foreign universities to open campuses in India. While he has done a lot more in the short period of his appointment, a lot more needs to be done.

There is a need to enforce discipline among the educators in government institutions. According to a study, teacher absenteeism is a high 25%in government schools. A reason for the high rate of truancy among girl’s students is the lack of toilets. Studies have also noted that attendance particularly in poorer rural areas goes up when mid day meals are served. These suggestions have been made and written about time and time again.

Allowing private sector participation is a good idea, provided it is closely monitored and audited by independent third parties, rather than government departments. There are independent NGO’s who play this role. The government has to be selective about who is given the go ahead to set up an educational institution, whether it is a school or a university. Look at what has happened in Australia which to encourage income from education and to have a pipeline of workers at the low end skill base, allowed the establishment of vocational schools of dubious reputation which was used a conduit for indirect migration into Australia.


On the issue of allowing foreign universities to set up campuses, one has to remember that the reason why institutions establish their reputations is not just because of their class room lectures, but the supporting infrastructure, the research labs, the libraries, the interaction between the students themselves and the faculty. Having flying in academics lecturing in high rise campuses will not quite be the same. You will not have top tier universities lining up, as they would not want to dilute their brand equity.


Finally we have home grown world class institutions such as the IIM’s, the IIT’s , the Indian Institute of Science and more. They have been around for years and have established a formidable reputation. They have alumni who have done well and would be happy to contribute to the endowment funds. It appears that there is reluctance to encourage this as the regulators would loose their controls over the institutions.

Recognizing that the government does not have the necessary funds, its role should be that of an incubator in establishing these intuitions and they are able to raise endowments and become independent similar to the institutions in the United States. One of course has to ensure that there is a certain incubation period and that no one subsequently tried to gain control.

With one of the worlds youngest population base, we need to make sure that this demographic advantage does not become a demographic disadvantage because of a lack of education and job opportunities.

The Global Village & Free Market Enterprise - at a Wedding in Kovalam

At a wedding in Kerala over the weekend, we saw wonderful examples of the global village and the working of a free market.

First the wedding. It was held at a beach resort in Kovalam. Most of the ceremonies were held in the evening on the beach. The settings were magical. The host was meticulous about the arrangements, having thought of every detail (an ex-private banker, but probably could now have a second career as a wedding planner). He is married to my wife’s school friend who is from Bengal,he is from Assam, now happily settled in London. The groom was from Ireland. The bride's  elder sister got married to an English boy two years ago.

The Irish like the Indians tend to be family oriented. You had a large contingent of Paddies who participated very actively in form and " spirit (s)" in all the functions. To the loud  blowing of conch shells, the groom dressed in a kurta and dhoti and desperately hanging on to a red umbrella ,arrived on an elephant. While sliding off the elephant we were all concerned that his dhoti would unravel, but he was quite adept at holding it together.

During the hour plus it took for the rituals, the pandit ji stopped mid way many times, got up, rummaged in his various plastic bags for the necessary ingredients Wearing a traditional conical Assamese head gear the groom patiently sat through the rituals. Watching the expression on the bride’s face it was obvious she was having a ball and was having a difficult time keeping a straight face. People went up and down the mandap. Photographers climbed all over to get the best shots. For the Irish the informality of the ceremony was probably a contrast to their solemn Catholic Church wedding which is to follow in a few weeks.

After the ceremony the dinner seating was communal with the waiters lungis tied above the knees, ladling traditional Keralite food  out of steel buckets, onto the  banana leaves. You had a choice of eating with your fingers or spoons .

In the midst of this, you had a young English boy, about eleven or twelve years of age, running around offering to fetch drinks for the guests (from the bar which was about 200 yards away) for Rs.20. The guests were initially taken back, but seeing the gumption of the young lad, went along. Soon a number of other children offered to do the same. The prices started coming down and hit rock bottom of Rs.5.


As in a real free market, dirty tricks started and a rumor was spread that the boy’s main competitor – a young girl about the same age, was spitting in the drinks. To control the damage, the girl went to all the tables denying it. This was such a classic case of creating a market, competition bringing the prices down. Dirty tricks in trying to oust the competition.


To cap the ceremonies there was a performance by the indomitable Usha Utap almost in her fifth decade as a performer, but with her traditional repertoire of oldies, had the guests – the Indians, the Irish , the English and other nationalities, on their feet  until sadly it had to come to an end around mid-night.The only thing missing was a perhaps a rendition of Danny Boy !!!

On my way back thinking about the cross cultural wedding and the young entrepreneurial children, I have come to the conclusion that if I had to bet on one country in Europe, it would be Britain. It has a bright future.

Raining on India & China’s Parade

Newspapers , magazines, blogs, op-ed pieces cannot say enough about how much progress China and India have made over the last two to three decades. While China had a head start, India is now being compared to the proverbial tortoise. Like everybody else I have been sending messages to my friends (both Indians and others) how this time is for real and how they should all move here. That is until I read two articles (one in the Financial Times and one in the Wall Street Journal) which brought me down to earth.

The Financial Times article was about how farmers in Punjab ( the bread basket of India ) were committing suicide at a alarmingly high rate, because of high debt incurred due to the high cost of inputs required to increase yields to earn a decent living off the land.

At the same time there has been concern about the seepage of pesticides into the ground water and the land getting exhausted due to the increasing use of fertilizers.

Ironically this at the time when the government is providing free electricity to the farmers to irrigate the land and the subsidies on fertilizers are continuing to blow a hole in the governments budget.In addition, the government has just finished a loan forgiveness program for small farmers.

Punjab is not the only one. Over the last two years there have been other articles about farmers in other prosperous states also taking their lives due to their inability to live off the land and repay their debt. Last year’s drought made the situation worse.

The Wall Street Journals article was about how drought is creating a similar situation in Yunnan province. The drought in Southern China is supposed to be the worst in the last 80 to 100 years. While the situation is bad the farmers have fortunately not had to resort to the desperate measures as their Indian counterparts,they face a similar problem in their inability to pay pack their debts..

Over the years because of the growing population, the size of the farm holdings has been on a declining trend. In the sixties India was saved by the Green Revolution.The high yielding crops and excessive use of fertilizers led to production going up significantly. It has reached a situation where India was exporting food crops. China experimented with collective farming, but as is now apparent it has not been terribly successful.

Over the next decades the situation is likely to get worse. The growth in population, the exhaustion of the land due to excessive use of fertilizers, land devoted to agriculture getting reduced as urbanization continues at a rapid pace. To cap it all, with the global warming, the glaciers in the mountains which are the sources of the some of the mightiest rivers in the world, will gradually not be able to replenish themselves.

At this time the focus of both the countries seems to be to divert the water flow to generate power to feed the hungry furnaces of the steel and cement mills. Not enough attention is being paid to the husbanding of water resources. This is going to lead to tension between the neighbors. Already the neighbors of the two countries are beginning to make noises. This is going to get worse.

The 1800’s and the early 1900’s was the race of commodities among the western countries plus Japan. The second half of this century is going to be the race (without trying to sound alarmist and saying wars) will be about water. These issues need to be addressed and agreements fair to everyone, taking the long term view should be entered into now !!

Its Cricket,no its Bollywood, no its Business - NO Its The IPL !!!

Over the centuries, India has not only exported but also absorbed the cultures, religions and languages of the invaders and made it part of the Indian culture. The latest such transformation is the English game of cricket.

The once gentlemanly game played on the fields of the English public schools and village greens was brought to India by the British. Spread over three to five days, it was played at a leisurely pace with breaks for lunch, tea and lemonade.

Watching the Indian Premier League's version of cricket with American cheerleaders ( the original from the U S of A probably with blonde's from Eastern Europe thrown in),the frequent blare of trumpets and steel drums ,flag waving by Bollywood stars and starlets, performance's by Lionel Riche and imitation ABBA rock group , you might be forgiven if you feel that you are on LSD and watching cricket on fast forward.

To show that it is not just a game but has big money behind it, the camera's keep focusing on the owners - who are among the biggest business tycoons in India including, the Ambani's, the Malya's, the Wadia's the Burmans and so on.

The stadiums generally with a seating capacity of up to 50,000 packed to the rafters and live broadcast with the highest viewership, overtaking the soap operas and reality shows, it has become the biggest form of entertainment in the space of three short years. Like the ancient Roman's giving a thumbs up, a huge roar goes up every time the home team scores a boundary (four runs) or a six or gets a opposing team member out.

While the Commissioner of IPL Mr. Lalit Modi gets all the credit for making it such a success, the original idea for the Indian Cricket League was that of Subash Chandra of Zee TV . He thought he would do in India what Kerry Packer did in Australia by shortening the matches to one day including night cricket, but he was outfoxed by the willy old members of BCCI, who forbade any cricketer from joining ICL.Also instead of trying to have it all to themselves, they brought in the big bucks.Zee didn't stand a chance and ICL is now history.

While IPL enables the cricketers from all over the world to make a lot of money within the short space of six weeks or so during which it is played, it has also democratized cricket. While this started a bit earlier, it has accelerated. No longer confined to the upper middle class from the larger metropolitan cities, you have cricketing stars from small towns all over India. Playing as team members with some of the best cricketing talent in the world, it has improved their game as well. Unfortunately with all the attention and the money you have to keep performing or you will get your fifteen minutes of fame and disappear.This will also shorten the life span of the senior cricketers of ten to fifteen years.

With cricket in India now being the largest revenue generator for the International Cricket Council, what will follow next ? Attention is now being paid to soccer, hockey and even basketball, but it is going to require a lot of effort to unseat IPL in the short run.While some say cricket is next to religion in India, in my view
cricket is religion with the reigning deity being Sachin Tendulkar . It unifies all races and religions in India like no other game or event. Jai Ho!!

Changing Role of Women in India

The Government recently introduced a bill in Parliament which would reserve approximately one third of the seats for women. While it was supported by two of the opposition parties , the BJP and the Leftist, it ran into resistance from some of the smaller regional parties. This was ironical since the leaders have a number of their own female family members standing for election at the state or central level.

Additionally some question the need for the introduction of such a bill since a woman is the President of the country Mrs. Prathiba Patil.Sonia Gandhi - the head of the ruling party Congress is regularly voted as the most powerful person in India.Her Mother-in-law, Mrs. Indra Gandhi after the Bangladesh war was shown on the cover of magazines as " The Empress of India ".

Further two regional politicians Mayawati and Jayalalitha have taken on the males in two of the most male dominated bastion states and succeeded. Then you have Brinda Karat the wife of the leader of Leftist Party and a active politician in her own right, who is at the best at haranguing the Government about the American bogey man.

Women are making an impact in the business world as well. The heads of HSBC, JP Morgan, ICICI Bank, Axis Bank, the CEO of Britannia biscuits are a few of the many successful professionals.

On the owner managed business, those days are gone where the male member of the family participated in the management of the business. The princesses at Parle and HCL are two of the many women who are actively involved in the running of the family business.

On the entrepreneurial side, you have Kiran Mazumdar who started the leading bio-technology company in India and is a icon . Also there are hundreds of women entrepreneurs who might not have made it as big as Ms.Mazumdar but run smallish businesses successfully. I am aware of at least four . One started a Indian spicy pickle business in her garage ( shades of Hewlett- Packard, Steve jobs) and now has a established brand in North India and supplies to Walmart's operations in India. Another has a fashion accessories business supplying to chains in the UK. A friend runs a garment manufacturing business exporting to Europe and the last one's husband a IIT graduate who gave up his job to support his wife,who has a successful traditional Indian styled garments supplying to boutiques and organizing trunk shows overseas. The list of Indian billionaires includes Mrs. Kokila Ambani, Mrs.Savitiri Jindal and Mrs. Indu Jain.

While there are thousands of Indian actresses, it is rare to see a woman behind the camera, although they have been a few including Aparna Sen,Leena Yadav,Nandita Sen and others on the domestic scene. Gurinder Chadha, Meera Niar and Deepa Mehta are among the women who have made it on their own outside ( or perhaps because of it )of Bollywood. ( Yes, I know you will quibble that they might not be Indian citizens etc).

All that is good news, but on the other hand,honor killing ,female infanticide, lack of women education are just some of the many reasons why the Government felt the need to strengthen women's rights.

Two of the most prosperous states Punjab and Haryana have a skewered male: female ratio as a result of female as a result of sex selection during pregnancy.. This is forcing men to seek brides from other states. Hundred steps backwards for equal rights for women, but one tiny step for national integration. Hopefully these men will not repeat the mistakes of their fathers.

I could go on and on,but it is now pleasing to see the government making a strong determined effort to raise the level of women participation not just at the legislative level, but also at the village community management level - gram panchyat by having at least 50% of the seats for women. It is generally felt that by having women, there will be more attention paid to woman's education, health and hygiene, and hopefully reduce corruption. This should raise the quality of life overall at the rural level - Jai Ho !!!