Showing posts with label IIPM BBA MBA Institute. Show all posts
Showing posts with label IIPM BBA MBA Institute. Show all posts

Thursday, September 19, 2013

Merchant of 'Vanish'

PC Sorcar Jr’s incredible magic tricks - collectively labelled Indrajaal - aren’t mere abracadabra. A deep undercurrent of philosophy props up his shows. The master illusionist spoke to KS Narayanan during a month-long performance tour of Delhi. Photos by Mukunda De

Master illusionist and India's greatest living magician Pradip Chandra Sorcar Jr and his daughter, Maneka, were in the National Capital for an entire month in May for a series of sold out shows staged to celebrate a hundred years of ‘Indrajaal’, the ‘web of magic’ that was initiated by his father, the legendary Praful Chandra Sorcar.

Every single day during the course of the month, the father and daughter duo carried on the family tradition and performed enthralling tricks, such as the famed “Water of India”, that were once an integral part of his father’s repertoire. A running gag during his show, it involves Sorcar Jr  pouring water out of a jug that never empties. In Delhi, the US-educated Maneka, the ninth-generation magician in the family, also successfully tried her hand at the illusion.

As scams tumbled out of the government's cupboard and the scorching heat made life rather difficult for residents of the Capital, the air-conditioned FICCI auditorium, packed with schools children, young magic enthusiasts and the elderly, provided relief as the master  and his daughter performed incredible, eye-popping sleights of hand.

The popularity of the Sorcars can be gauged from the fact that this tour went on for an entire month and even at the end of it, there was no let-up in enthusiasm. Every evening the auditorium buzzed with excitement.
Of course, the Sorcars’ vanishing tricks at their Delhi shows were not as edgy and spectacular as they are usually known to be, but they were impressive nonetheless. They are perhaps most celebrated for their vanishing routines. In the past, Sorcar Jr has made the Taj Mahal in Agra and the Victoria Memorial in Kolkata “disappear”.

He has also cycled blindfolded through rush-hour traffic in London, Munich, Madrid and Tokyo and has escaped from a sealed iron chest in less than a minute after a helicopter dropped it into the China Sea. He can walk on fire and water and turn a beautiful woman into a deadly python in the blink of an eye. Andf those are only a few of the unbelievable things he can pull off.

But many admirers claim that his most astounding act was making a train full of passengers vanish before the eyes of hundreds of witnesses at the Burdwan railway station in West Bengal on 12 July 1992. Sorcar Jr repeated that act with the Indore-Amritsar Express in November 2000.

How did he do it? “I have only one standard answer to that question, after which I add, ‘Don’t tell anyone,’” he laughs, explaining that the entire universe is actually magic. Night becomes day and day becomes night - isn't that magical?.

Pretty much as he does when he performs magic tricks on the stage, Sorcar Jr has a way with words. In an interview to this writer, the master illusionist explained that magic teaches many lessons to all of us. "Magic is the way to realise the truth and it helps people realise not to be prejudiced. It tells us not to believe what we see but explore the logic behind things. So I would say don’t believe what the minister said. But try to get behind the truth of his words," he said, opening the free-wheeling conversation.

Ask the master magician about ‘wizardy’, and one gets to dwell on the depth of science and technology. He says: “Magic is a forerunner to science. What is magic today is science tomorrow. In simple terms, unexplained science is magic. The moment it is explained it becomes pure science.” He goes on to give the example of key inventions that have changed human life in crucial ways like fire, machines, aeroplanes…

Sorcar Jr also says that magic adds philosophical and cultural subtexts to the tricks that he performs. For instance, the Water of India, an urn, is repeatedly tipped over and the water keeps flowing. On this Sorcar Special, the magician refers to the much-quoted verse from Isha Upanishad: Om Puurnnam-Adah Puurnnam-Idam Puurnnaat-Purnnam-Udacyate Puurnnashya Puurnnam-Aadaaya Puurnnam-Eva-Avashissyate/Om Shaantih Shaantih Shaantih. (Though there are many commentaries for the verse, one of them is, ”When this Whole is ‘taken out’ of that Whole, the Whole remains”).

On his plans to build Jaadu Nagri, a whole township and university of magic, Sorcar says it is still under process. Though the magician wanted to build Jaadu Nagri in scenic Darjeeling, the plan fell through due to the political conflict in the hills. Sorcar has now shifted it to Tripura.

“There is a hill there that I want to buy with my own money, money that I have earned from my magic shows. I don’t want the support of the government or of any private player; I don’t want any directives or restrictions. If I stop performing, how will I get the funds that I require in order to realise my dream,” he says, adding that a lot more needs to be done before the township can come up.

Without setting any time-frame for his dream project, Sorcar Jr remarks that his motto is simple and time-honoured: do not to ask what the country has done for you, but what you can  contribute to make it a better place.

Surrounded by four women who are performers in their own right - his wife Jayshree, a Bharatnatyam dancer and magician; and his three daughters, - Maneka, Mumtaz and Moubani, with his elder daughter Maneka becoming the first woman to break the bastion of magic held by men.

Though happy at the successful entry of Maneka into the sphere of magicians, Sorcar Jr points to the competition that he faces from her. “See, after my father’s death, he was my competitor. Now my daughter is my competitor. People keep comparing the two of us. Kids go to Manenka first to get her autograph and then they say, 'Uncle, we are coming to you' too. He adds: “That makes me happy and sad. Maneka is doing well. But then there is also competition.”

So he stresses that it is not just the tricks that he inherited from his father that are important. Equally important is every single ‘performance’. Otherwise, the audience will lose interest and move on, he warns.

Like Maneka, his other two daughters, Mumtaz and Moubani, are also creating magic on celluloid as they appear in lead role in Bangla movies.

However, the master points out that a magician does not mesmerise his audience. “There is a better word in Hinduism - sammohan, enchantment.

As much as the audience enjoys his magic tricks, Sorcar too finds innumerable magicians in his audience. “I enjoy the audience more than they enjoy my magic. All of them enjoy one PC Sorcar. I enjoy so many of them,” he says with a hearty laugh.

An applied psychologist by training, Sorcar explains that the audience is of two kinds - enlightened and innocent. The latter come and touch my feet. “I don’t like it at all.”

Among the enlightened, the master magician says, there are those that are looking for trick, art, magic and science. “I perform for children of all age groups,” he says, adding that a third category of audience is like 'tube lights' as they take time to react to the magic.

There have been times when Sorcar Jr has felt sorry for himself when people take magic for reality. He narrates how when he visited a grieving neighbour who lost his son and expected Sorcar to bring the deceased back to life. “When I explained to him that it was impossible, he abused me. However, he later apologised to me.” This is tragic magic.

Besides looking for inspiration from his father, Sorcar Sr, the magician also explores the tradition of magic like Banmati of South India, Mayong in Assam and ascetics back home in Bengal.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles
ExecutiveMBA

Saturday, September 07, 2013

On a sick bed

Measures to revive manufacturing are urgently needed

India is lucky to have two able technocrats at the helm of its economic affairs: Prime Minister Manmohan Singh is an Oxford alumnus while Finance Minister P.Chidambaram is a graduate from Harvard. Yet despite their helmsmanship, the economic horizons of the country have remained cloudy for some time now. That is in sharp contrast to the economic recovery being staged in the United States and China's steadfast growth, even though it has moderated of late. India's economic signals, on the other hand, have reasons to raise eyebrows: the latest figures from the Central Statistics Office (CSO) reveal that industrial growth has “slowed to a 20-year-low of 1 per cent in 2012-13” compared to 2.9 per cent in 2011-12. Clearly, the country is paying a heavy price for its overdependence on the service sector and showing neglect to the infrastructure and manufacturing sectors.

India’s premier rating agency Crisil says that the current situation is reminiscent of the crisis year of 1991-92 when industrial output grew by a mere 0.6 per cent whereas manufacturing output contracted by 0.8 per cent.  In addition, high input costs of raw materials and the crimping shortage of power supply seem to have further aggravated the problem. But what stands out starkly and clearly is that the government's apathy towards the infrastructure and manufacturing sectors is the reason for this gloomy scenario. Thankfully, the government seems to have now shaken off its stupor and woken to the reality that the service sector alone cannot be counted on to generate growth and employment.

FICCI President Naina Lal Kidwai said recently that "supply-side bottlenecks due to inadequate infrastructure, inadequacy of fuel supply linkages and delays in project clearances of large manufacturing and infrastructure projects should be the priority areas to be addressed through policy.” The government would do well to pay heed to such advice.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman

ExecutiveMBA

Monday, July 29, 2013

Minority appeasement, again?

The SP government’s decision to withdraw terror charges triggers off a storm in the state, writes Puja Awasthi
The steely hope in Ayesha Qazmi’s voice pierces through a patchy telephone connection. “My burdens will go. It is now just a matter of days”, she exults from her home in the village of Sammopur, Azamgarh in Uttar Pradesh. A more restrained hope surges through the voice of Ghulam Qadir who speaks from Kushar village (Kisthwar, Jammu and Kashmir). “The worst is over. Life will begin to move again”, he says.

Ayesha and Qadir have not met but are linked to each other through the fates of two men. In the former’s case, that man is her husband Tariq Qazmi, a doctor of Unani medicine who is prime accused in the 2007 serial blasts of Gorakhpur which left six injured. For Qadir, it is his son Sajjad-ur-Rehman, who was arrested for being an accomplice in the blasts on a confessional statement by Tariq Qazmi and his alleged co-conspirator Khalid Mujahid, a teacher.

With the UP government’s recent announcement of a recommendation to drop charges against Tariq Qazmi, Sajjad-ur-Rehman’s release has become a logical expectation for he was supposedly implicated by the former. However, the logic of the grey war against terror has seldom been that simple. As Rajeev Yadav, spokesperson of the Rihai Manch, a forum campaigning for the release of innocent youths framed on terror charges, explains: “The announcement is just a ploy to distract the community. The government is playing with emotions. The court is free to dismiss the government’s recommendation even if district officials endorse it. Terrorism is a political issue”.

Even if the court were to accept the government’s appeal, Tariq Qazmi would continue to remain in jail as he is also accused in the court blasts of November 23, 2007 which left 14 dead. The case is currently being tried in Barabanki and given the might of the state’s lawyers it is doubtful that the government will risk a similar announcement in it. That more important sub text has been lost in the cacophony that has followed the government’s announcement.

The government has also announced the dropping of treason charges (brought because they shouted anti-India slogans in a Lucknow court) against five accused from West Bengal – Mohamed Ali Akbar, Mukhtar Hussain, Azizur Rehman, Nasimul Hafiz and Nurul Isman. Once again, the more important fact of them still remaining in jail under the Explosives Act was lost in the criticism that the government was playing with fire. The Samajwadi Party had promised to release all innocents falsely jailed on terror charges in its election manifesto. According to a list compiled by the Rihai Manch, 25 such accused from the state are jailed in the state, 20 have been jailed outside the state while 10 accused from other states are in UP’s prisons.

Last November, the government made its first announcement (not recommendation) in the Rampur CRPF camp attack case and was promptly challenged through a petition filed in the Allahabad High Court. Since the government never actually filed an application, the petition was dismissed. This time a member of the Samajwadi Party is threatening to approach the court in Faizabad even though the government’s stand will become clear only on May 3, the next date for the hearing in the case against Tariq Qazmi.

Yet, a storm of protests is rising. The state BJP unit’s spokesperson Vinay Bahadur Pathak says, “There will be dangerous consequences of this politics of appeasement. If the government has to decide everything, why have courts?” Manish Mahajan, the state president of the Akhil Bharat Hindu Mahasabha says, “By rewarding terrorists, the government is stooping low to ensure its hold on the minority vote”.

Within the state’s Anti Terrorist Squad (ATS) there are other worries. “All the hard work that went into building a case against the terrorists will be lost to political caprice. This will discourage the force and send out a wrong message”, says a high-ranking official.

Tariq Qazmi and Khalid Mujahid were arrested (according to the police version) from the Barabanki railway station with 1.250 kg RDX, six detonators, three cellphones and two SIM cards, a month after the Gorakhpur blast. On their confession, a few days later, Sajjad-ur-Rahman and Akhtar, both from Jammu and Kashmir, were also arrested.

In September of the following year, the Mumbai police made five arrests and declared that it had netted the group responsible for all blasts in the country since 2005, including Gorakhpur, thus punching holes in the claims of the state police.

In 2012, a report submitted to the state government by the one man Nimesh Commission (appointed by the previous Mayawati government in 2008) concluded that the police version of events on December 22, 2007 (the day of Tariq Qazmi and Khalid Mujahid’s arrest) was “suspicious” and suggested action against all those officials and personnel who played an “active role” in the arrests of the two, without actually naming anyone.

In a curious twist, the Samajwadi Party government has denied the existence of the report. As recently as March this year, the state’s home department, responding to a RTI query asking for a copy of the report said that it had never received it, hence the question of sharing it did not arise. Seven weeks later, the state’s home secretary cited the same report while announcing the proposal for Tariq Qazmi’s release.

The perils of this ambiguity are obvious to Zaheer Alam Falahi, uncle of Khalid Mujahid. “While it is good that the government is working on its promise, till it does not officially release the report, the perception that the recommendations were not backed by impartial investigations will grow. This will harm both the party and the community”, he says.

SR Darapuri, the state’s former Inspector General of Police, says that there are larger questions that must be answered. “The blasts were a fact, as were the arrests. The government must investigate who was responsible for both. Were the real culprits let off? Where did the explosives that the police claimed to have recovered from the accused come from?”


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles




Thursday, June 27, 2013

Throw open the doors

The UN needs to make its job selection process transparent

Alluding to the United Nations’opaque selection process for candidates to its key bodies, Sir Richard Dolly, ex Director of UNICEF, makes a candid admission: “There is a need for some process of open hearing and interview of the best qualified potential candidates.”  The issue of selection cropped up when the U.N. Conference on Trade and Development announced the recruitment for the coveted post of secretary general. As per the UN’s cyclical selection process, the next man for the secretary general position to the UNCTAD must be from Africa. But, as is often the case, there is already a long queue in the run-up to the announcement of selection in September this year. Even curiouser, the UN Secretary General Ban Ki-Moon, who has the power to select, has refused to divulge the details of the shortlisted candidates.

The UN has a particularly blemished record when it comes to the selection of candidates for its various arms and agencies. The IMF and the World Bank too have a similar dismal record of recruitment, which they try to defend under the garb of “gentlemen’s agreement.” According to the agreement, the head of the IMF and the World Bank must either be an American or a European. That's a brazen display of economic and racial apartheid. Despite wide-ranging agreement among its members to drop the discriminatory policy, these bodies have not budged and obnoxious policy has endured to this day. What's even more exacerbating is that the rules of selection at these two apex bodies remain a closed-door exercise, with no information shared beyond their cloistered foyers.

 It seems that in the matter of selection of candidates for UNCTAD, Ban Ki-Moon is drawing his strategy from history, even though there is a need for adopting a new tack. According to Sir Dolly, eminent experts in the field like the Nobel laureate Joseph Eugene Stiglitz, an American economist and professor at Columbia University, and Jose Antonio Ocampo, former Under-Secretary-General of UN, ought to be in Moon’s selection panel. Though Moon ought to pay heed to what these respectable voices have been urging him to do, he has the luxury of acting unilaterally. Never in the history of the United Nations, a secretary general’s choice of selection has been rejected on the floor of the house.

Should the UN persist with its one-man show when it comes to the selection of key personnel. At a time when there is a cry for greater transparency and democratisation in decision making, the UN has a duty to lead by example. It is therefore all the more desirable that it should jettison its hidebound process of selection and recruitment and embrace a more democratic style that befits its reputation and credentials.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman

ExecutiveMBA

Thursday, June 06, 2013

Lessons not learnt

A 2010 high-level army assessment had predicted Chinese designs on Daulet Beg Oldi but India’s civilian rulers could not care less. Mayank Singh has the details.

The country may have woken up to the surprising and unexpected news of China entering and tenting in Depsang area, 30 kilometers south of Daulet Beg Oldi, in the Ladakh district of Jammu and Kashmir. But not the Indian Army.

According to a high-level Indian Army report submitted in 2010, this latest transgression by the Chinese army was pretty much on the cards. The report which was prepared under the command of a Lieutenant General was, “intended to be a guidance document for commanders and staff in evolving, reviewing and refining of operational plans with full knowledge and appreciation of the overall strategic context under which Sino-Indian military confrontation may occur and with deep insight into PLA’s military doctrinal content, its military capability, availability and types of forces for application in each sector and forms in which the threat may manifest.”

The high-level report had noted - quite correctly as it turned out on April 15 - that the Chinese strategy is not to grab territory but to send a message and to make political gains. It had predicted that China will avoid the Chusul sector but will try grabbing territory on the Daulet Beg Oldi side

The report speaks of the rise of both India and China but warns against lowering our guards. “While seeking and expecting a benign Sino-Indian cooperative and collaborative Asian geopolitical order, it would be imprudent to ignore China’s politico-military capabilities, its Asian and global ambitions and its track record, mindset and strategic culture. There is no alternative other than to intimately monitor PLA’s military capabilities and striving to institute appropriate deterrent military responses, operational concepts, operational  plans and force postures.’’

The report says that China has a proven record of single-minded pursuit of long term goals and objectives which will lead to an environment of conflict of interests with India. Like in the late 1950s and early 1960s before it culminated in a full-fledged border war, the tactics as far as the Chinese is concerned are tried and tested. Whether by accident or design, Chinese troops are more than ever before, crossing into Indian territory. The Chinese deny the charges and whenever solid evidence is presented, they attribute it to “The inexperience of the post commanders.’’

The military establishment is letting it be known that the latest tactical transgression is aimed at showing to the world that India – which has the third largest standing army in the world – can capitulate because of its own lack of foresight and proper appreciation of security situation in a strategic and sensitive arena.

But the critical question is this: if we continue to ignore threat perceptions issued by the army under the guise of misplaced liberalism, then what happens to the intelligence which is being laid out on a platter? The Chinese are not known for making halfhearted efforts and their focused work in Tibet has significantly added to the threat perception and war waging capabilities against India. In Tibet, China has added 20,000 km of railway tracks over the last two decades, compared to a measly 860 km by India in the same period. Here again, it is question of overlooking sensitive developments. While the Border Roads Organisation (BRO) continues to bicker over its inability to carry loads at high altitude because they do not have helicopters, a decision on it has been conveniently kept on the back burner.

Ever alert to the Chinese threat, the high committee report has systematically collated and presented relevant facts and assessments on aspects which would govern China’s geopolitical and military behaviour in the immediate foreseeable future, especially with regards to India. According to the army, the report is an appreciation of the ground situation and an attempt to put things in perspective – the developments in Ladakh have proved to be uncannily precise.

The report says that in the backdrop of key tenets of PLA’s military doctrine of Active Defence, War Zone Campaign (WZC) and recently-evolved Unrestricted Warfare - keeping in view its sectoral military aims - describes and analyses three plausible operation level scenarios which may emerge in a timeline of 2012-17. The scenarios are analysed for costs-risks-gains to China as well their military and geopolitical impact.

Critical to the Chinese plans is their War Zone Campaign (WZC) Doctrine. According to the report, the Peoples’ Liberation Army (PLA) has formulated military doctrine for fighting war at the operational level which it refers to a war zone. The strategic doctrine dictates that military campaign in a war zone is a series of related battles fought under a unified command to seek political capitulation of the adversary.

The report says that it involves a phased rapid yet calibrated rising of conflict threshold and force application while offering an opportunity to the adversary to capitulate and seek negotiations prior to transcending to next phase in the escalatory ladder. Military destruction and annihilation is only a means; political capitulation of the adversary remains the main objective.

The success of this doctrine is based upon preliminary lulling of the adversary into state of complacency while the PLA upgrades its readiness levels. This preliminary phase, to be executed during peace time and over prolonged periods is referred as “External Calm & Internal Intensity (ECII)”. Once PLA’s desired readiness levels are achieved and geopolitical situation is considered appropriate, the actual military campaign under a unified HQ (WZC HQ) would commence under the WZC Doctrine under three phases.

Phase 1 includes actions by ‘Elite Forces and Sharp Arms (EFSA)’ or Jingbing Liqi. In this phase, special operation forces (SOF) are deployed to gain first hand information of the battle, disrupt the enemy’s build up and make a political statement asking the adversary to back off. The aim is political victory, not territorial gain. If the adversary backs off, the WZC is considered successful.

In Phase 2, if the adversary does not capitulate through EFSA measures, the next phase is to ‘Gain Initiative by Striking First' (GISF) or Xianji Zhidi. The purpose is to prosecute ‘deep non-contact battle’ through long range precision strikes at adversary’s strategic locations and major military infrastructures. These are to be conducted in synergy with intense cyber war and other elements of asymmetric threats. The main objective is to cause decision paralysis and convince the enemy of the inevitability of military annihilation unless they capitulate and seek negotiations. This is often referred to as `winning victory with one strike.’


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles
2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall

Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
BBA Management Education

Tuesday, June 04, 2013

Back to square one

Will Musharraf's return change Pak's political scenario?

"Where are the people who said I will never return home. I have been receiving death threats and some people have been trying to scare me but I have returned home for the sake of my country and people," was Pervez Musharraf’s riposte to the skeptics who discounted his chance of return owning to the charges hanging against him. It is noteworthy that Musharraf's safe homecoming was tolerated by Asif Ali Zardari, the man who was put behind bars and later forced into exile by Musharraf himself as Pakistan’s president way back in 1999 and 2004 respectively. It is debatable whether it’s a gesture of magnanimity or a lame submission to General Kayani’s dictate, with whom Musharraf enjoys an arm’s length relationship. Despite being one of the weakest presidents of Pakistan, Zardari knows that Musharraf doesn’t present a realistic challenge for him in the upcoming general election to be held in May this year. Not because Musharraf doesn’t hold any charisma but he is endowed with too little time to establish a foothold in the heartland of Pakistan. Further, and most importantly, Zardari was helpless as a multi-participant’s deal was struck involving the army, the government of Saudi Arabia, Nawaz Sharif and Musharraf.

Musharraf’s impact on the impending polls and in Pakistan’s public life doesn’t seem too potent as the contest will be a tripartite dead-heat race among Zardari, Imran Khan and Sharif. However, the Muttahida Qaumi Movement, the leadership of Indian immigrants in Pakistan, has immediately warmed up to Musharraf with open arms much to his delight in an otherwise hostile environment prevailing.

Musharraf had been a mixed bag for India – on the one hand he orchestrated the Kargil war as military general while on the other he had been instrumental in cooling Kashmir’s simmering pot as the country’s president.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles

Monday, June 03, 2013

A 20,000 tonne dilemma

It is important to increase the supply of gold to the market and reduce import levels. 

The government has recently announced an increase in the import duty on gold with a view to strengthen the external sector of the economy and shore up the value of the Indian currency. While the duty on refined gold used for jewelry has been hiked from four to six percent, that on gold dore used for industrial requirements, particularly in the refinery sector, has been raised from two to five percent. The government has taken this decision because our economy suffers from the highest current account deficit at 5.4 percent of GDP.

The problem with this policy is that it focuses solely on the demand rather than supply side economics. To that extent, such a policy change is unlikely to lower the demand for gold across the country, owing to the people’s psyche and ills of economic governance.

The traditional role of gold in Indian society is embedded as a culture of savings to meet family requirements like weddings or religious ceremonies. Besides, trading communities traditionally tend to invest in gold as a form of contingency fund to bail them out in case of potential business losses in the future. Also Hindu temples like Tirupati and Padmanabaswamy in Tiruvanthapuram are known to hold huge gold reserves. Similarly, other religious bodies also possess gold reserves. All this in a sense, suggests the centrality of gold to Indian life. Gold remains a primary investment across all socio-economic segments because of tradition, security and hedge against inflation drive demand. Acquisition of gold at this juncture, characterized by an uncertain economy, offers the investor capital appreciation unlike any other form of investment. Therefore, an enhanced demand for gold occurs when investments in real estate, stocks and shares, debt securities, besides mutual funds are unable to offset high inflation rates. Thus, gold continues to remain the most attractive form of investment.

The government’s inability to effectively curb the high inflation rate, besides other problems like low growth rate, unhealthy level of deficit finance and an alarming current account deficit has shattered people’s credibility in economic governance. Also the fact that internationally renowned credit rating agencies are contemplating to further lower the country’s investment grade, only reinforces such a line of thinking.

The country consumes 800-1000 tonnes of gold annually, which amounts to $38 billion or 20 percent of the global demand. The new measure is expected to decrease demand for gold by 10 percent. India imports gold worth over $35 billion largely from South Africa and the US for domestic consumption. Today, gold comprises 10-15 percent of India’s imports. This policy aims to reduce the widening trade and current account deficit to eventually strengthen the rupee. Today, the external value of the Indian rupee has declined in relation to the dollar, which is also India’s trading currency.

Whether adoption of such a policy would address the problem or not is improbable as this approach only tackles the symptom but not the cause. It is important to note that the price of gold in India, even before the proposed hike in import duty was seven percent higher than the international price. This proves that when demand gallops ahead of supply, higher prices are bound to prevail. Gold has a low elasticity to price and therefore, higher duties have less effect on consumption and imports.

The number of artisans employed in the gold jewelry industry across the country is estimated to be nearly two million people. If  gold’s demand drops by 10 percent, there will be a direct bearing on the unemployment levels, which in turn has the potential to create social problems like crime and suicide.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles
2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall

Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
BBA Management Education

Thursday, May 30, 2013

Much ado about nothing

By trivialising and politicising the War Crime Trial, the Awami League regime blew the historic opportunity to punish the 1971 War Criminals through an internationally accepted procedure, says Saurabh Kumar Shahi

After the sentencing of a senior Jamaat e Islami (JI) leader to life in prison last week for crimes against humanity during the 1971 war, Bangladesh is witnessing probably the biggest political turmoil since the 80s and 90s. Abdul Quader Molla, one of the top rung leaders of the JI, is the first political figure to be sentenced by the International Crimes Tribunal, following the verdict against a runaway televangelist who was awarded death penalty in absentia.

The verdict was followed by protests by the mass of urban liberal Bangladeshis who gathered at the Shahbagh More locality demanding more stringent punishment for the war criminals. The latter only intensified their protest after one of the bloggers and organisers of the protest was brutally killed outside his home. On the other hand, sensing the government's mood of altogether banning them, strengthened by the adoption of the required amendment by the parliament, the JI and its student union has stated a nationwide protest that will make or break its future.

The issue of war crimes is a complex one and it was but natural that the trials would evoke dramatically opposite reactions. However, the way the process has been politicised has taken the lustre out of it.

It can be historically substantiated that JI and its Razakars helped the Pakistani army suppress the revolt in 1971, leading to horrendous crimes. It can also be proved without a reasonable doubt that many of its leaders were aligning against the popular national mood. However, the regime in power as well as other supporters of the trial have singularly failed to parade enough eye witnesses to testify against them. Also, the tribunal will have to ascertain whether these Razakars and JI leaders committed crimes against humanity by organising genocides of the unarmed population or merely targeting armed Bengali freedom fighters.  

Sheikh Hasina's Awami League came to power last time promising a tribunal that would try the war criminals of 1971. However, following her accent, she kept dithering before it became impossible for her, because of persistent pressure from civil rights groups, to further delay the tribunal. Hasina understands that if the tribunal completes its duty and gets international recognition, it will effectively rob her of her most dependable election plank. The fact that her party came to power several times following independence and yet failed to try the war criminals, speaks volume about her commitment.
Naturally, her government flouted several norms while constituting the tribunal, attracting damning criticism from world bodies. The United Nations through its Special Rapporteur on extrajudicial, summary or arbitrary executions, Christof Heyns, expressed dismay at the trial and maintained: “Capital punishment may be imposed only following proceedings that give all possible safeguards to ensure a fair trial and due process, at least equal to those stipulated in the International Covenant on Civil and Political Rights, to which Bangladesh is a State party.”

Says, Mohammad Nakibur Rahman, a Bangladesh expert based with Tulane University, “Indeed The Economist recently uncovered collusion between the government-prosecution side of the trial and the judiciary. In addition, the unrelenting media campaign has meant that Shahbag protesters have made up their minds regarding the guilt of those in the dock, regardless of the evidence of a doctored trial.”

Others including the US Ambassador-at-Large for War Crimes, Stephen J Rapp, and Human Rights Watch expressed concerned over  “glaring violations of fair trial standards”.  The criticism has not only emboldened the accused, all of whom are members of either JI or the opposition Bangladesh National Party (BNP); but has also given them an excuse to say that they were victims of a political vendetta.

Even longtime supporters of the cause, for example journalist David Bergman, have criticised the entire process. “The government has unjustifiably prevented their international lawyers from coming to Bangladesh and assisting them in the court room. Also, even though the substantive matters of guilt and innocence are currently before for the tribunal, some of the most influential printed media continue to talk about the men as though they were guilty and their convictions a foregone conclusion. Moreover, on the other side of the coin, the possibilities of journalists here in Bangladesh being able to write critical commentary about the tribunal are decreasing. The attacks on Al Jazeera and myself are tantamount to that,” he maintained.

Experts also believe that Hasina's gambit might not find traction in the coming elections. Banning JI, although desirable, will only send the signal to the poor rural masses – where JI has its hold – that only family run parties like AL and BNP have a place in the democracy. Also, even if the party is banned, its members can always constitute a new party or merge with BNP.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
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Saturday, May 25, 2013

Revolutionary slokas

Maoists in Bihar are mixing Leftist politics with social engagement to increase their mass base, reports Sanjay Upadhyay

On the freezing wintry night of December 27, 2012, a group of nearly 100 men, buried under swathes of quilt and thick winter-wear, gather at the diara or riverine area next to the swirling Baghmati in north Bihar.

In the dark expanse and quiet, save the noise of the river, Giddha in Sitamarhi district is not the kind of place you are likely to see anyone or anything except a congregation like this –  a meeting of some of the top ranking Maoist radical leaders from north Bihar.

This place, considered a positive security hazard for most except this motley crowd present, can hardly be more suitably located, adjacent as it is to the Indo-Nepal border. To be sure, there is more than a hint of fraternal links across the invisible line between the two countries.

Welcome to the Shahid Mela or Martyr's Fair. This meeting is no cold-blooded plan of the radical Reds to rid the society of its class enemies through wanton violence, neither a Naxalite kangaroo court which delivers primordial justice to the land holder for his perceived excesses, all under the cover of darkness.

Instead it is a popular village fair which proposes to turn Mao Zedong on his head, a new paradigm as it were: power does not flow from the barrel of gun, as the great helmsman had once famously wrote, but through social reform, dialogue and raising issues in the most bourgeoisie democratic fashion possible.

It is by no means a lone view. Of the Maoists gathered here, there is an increasing consensus that non-violence will fetch them better results than all the blood shed in the world. This theme dominates their conversation and talks continue through the night until the first rays of sun break through.

Then, the scene is markedly different. In the sparkling sun, with pakoras and jalebis fresh out of the wok, the chattering of children and the queue for piping hot tea, it looks an unlikely place for nearly 50,000 odd revolutionaries to assemble for a political cause.

But then such are the persuasive powers of the influential Nari Mukti Morcha, the largest umbrella organisation of Maoists in north Bihar and the main organiser of the Martyr’s Fair.

At the fair itself – a much-publicised meeting for those who cared to know  – arms and ammunition are the last thing on anyones’mind. Keeping social sensitivities in mind, it is what you would see at any village get together. There is the Meena Bazaar, which is enough to get the women folk chattering: bangles, colourful clothes, sindur and make up. The pattern follows itself; the nights dominated by classic left polemics and the day by the gaily coloured village stalls.

As a symbolic gesture towards changing a degenerate social order, a model marriage is solemnised between Amit, a resident of East Champaran and Sangeena. In what could be considered an extraordinary first, the slokas are recited hand in hand with revolutionary Maoist ballads. A cultural team from the Benaras Hindu University (BHU) is at hand to provide the musical score and it looks like the original fun place.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
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Saturday, May 11, 2013

PROF. JAMES L. HESKETT: HARVARD BUSINESS SCHOOL

“To T. S. Eliot’s prescient words ‘Where is the wisdom we have lost in knowledge? Where is the knowledge we have lost in information?’ we might now add, ‘Where is the information we have lost in data?’”
That’s Paul Nicholas’ (Director, Soul-Chaplain Consultancy) reaction after reading most of the responses to this month’s column. It’s not a bad “sense of the meeting,” in which many contributors offered suggestions to managers wishing to get the most out of so-called big data and avoid paying the price of paralysis in the process. The challenges Big Data pose for managers include “identifying which data are relevant” (Subrata Chakraborty, a retired professor of management) and “seeing through the woods to know what to use and what not” (Pieter J. de Beer, Senior Partner, De Beer & Keulder Legal Practitioners). Scott Waller (VP, M/A/R/C Research) expressed the fear that “the age of Big Data seems to be arriving at the time of death for the Big Thinker.” Gerald Nanninga (Founder, Planninga from Nanninga) cautioned us that “the big risk is that it gives executives a false sense of comfort.” Clifford Francis Baker (Chair, Neffel Corporation) added, “My concern is primarily focused on the possibility of complacency…data derived from data analytics must…be handled with care.” Mok Tuck Sung (Owner, Profit Tools) commented that “technology and knowledge advancement have again developed faster than the managers’ and business owners’ capabilities to leverage its usefulness in their decision making process.” Philippe Gouamba (Vice President – Human Resources, Skyline Windows, LLC) reminded us that “perfection is but an illusion… A successful outcome is almost never the result of perfect information.”

Among the suggestions for managers were these: 1. Help “data analysers consume and translate the data” (Scott Kemme, Senior Business Analyst, ClickFox, who also suggested an alternative title for the column, which I instead used above);
2. Know “what not to look at” (Phillip Clark of Clark & Associates);
3. Work to reduce turnover among business analysts who “tend to be lower level employees and have a high turnover,” creating a “losing battle” through the loss of “institutional data knowledge” (Kim Kraemer, Data Architect, USG Corporation);
4. Avoid the belief that “whatever is new will solve their problems,” concentrating on the appropriate application of Big Data (Seena Sharp, Executive Director, Sharp Market Intelligence);
5. Avoid allowing Big Data to remain the “purview of the select few” only for use for one-off and one-time decisions” (Jonathan Spier, Entrepreneur in Residence, Altos Ventures);
6. Maintain the attitude that “fast is better than perfect” (Mike Flanagan a Purchasing Manager by profession);
7. Avoid the temptation of harvesting just the “’low hanging fruit’ rather than waiting for the analysts to gain understanding (presumably of the decisions to be made)” (Sean O’Riordain of Trinity College, Dublin);
8. Rather than concentrating on the data, focus on “being able to formulate the right questions to ask at precisely the right moment” (Edward Hare, Retired Director – Strategy and Planning, Fortune 250 Manufacturer).
Tom Dolembo (Founder, New North Institute) drew a picture of direct process control in which decisions have to be made “in the flow” in situations where there isn’t time for conventional analysis (at least by humans). Is this a glimpse into the future of decision-making (without analysis paralysis) based on big data for a widening range of decisions or is it confined to a special set of conditions? Will access to Big Data further enable fact-based decision making or analysis paralysis?


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
 
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Thursday, May 09, 2013

Infosys My Experiment with entrepreneurship

There is nothing wrong in wanting to get richer. But there are many ways to get richer, and entrepreneurs must be able to choose the right one

For most people who are looking to take the entrepreneurial plunge, one of the greatest inhibitions is the loss of security that a job provides. Even in my personal case, it was not how I had planned things initially. I grew up in a middle class Kannada Madhava Brahman family, and the most critical learning that I imbibed from my family and environment was the uncompromising focus on education and respect; a learning that I have retained throughout my life.

My journey into entrepreneurship started out very differently, and a couple of defining moments come to mind. The first defining moment was a meeting with a famous American computer scientist when I was a graduate in Control Theory at IIT. He talked to me at length on the future of computer science; and his conviction and subject knowledge were so profound that I was hooked to the field for life. The second defining moment happened during my trip to Europe. It happened in the Sofia Express, in which I was travelling on my way to India. My co-passengers were a girl and a boy. I started a discussion with the young girl in French, who talked about the perils of life in an iron curtain country. To our astonishment, a few policemen came and arrested both of us, which, I believe, was because the young man had complained that we were perhaps criticising Bulgaria’s Communist government. They confiscated my belongings and dragged me along the platform into a small 8x8 foot room with a cold stone floor and a hole in a corner as a toilet. I was made to stay there without food and water for 72 hours. Even after I was taken out, I was taken to Istanbul on a departing freight train, again without food and water, before finally being released; because I was “from a friendly country called India”, as per one of the guards. During the entire journey to Istanbul, I seriously rethought my views on communism. While I was quite a bit of a Leftist in my thought process earlier in life, my experiences in Europe started convincing me otherwise. Subsequently, over the coming years, I became more and more convinced that rather than communism, it was capitalism – and in essence the entrepreneurial spirit – that was the best way for countries like India to get rid of poverty. You can say that Infosys, in essence, was an experiment for me in entrepreneurship.

My first venture was Softronics, which only lasted for a year and a half (after which I joined Patni). I realised a few key lessons. Firstly, when you become an entrepreneur, the market has to be ready for your idea. The Indian market was certainly not ready, which is why with Infosys, I decided that we will explore the global market. Secondly, I learnt that it is important to have a team that has a common and enduring value system and the strengths of team members must be complementary and mutually exclusive. Again, these lessons came in handy when I set up Infosys. The idea of starting another software company started brewing in my mind when I was working as a lead engineer in Patni Computer Systems. I wanted to, as my upbringing had taught me, build a company that would earn the highest level of respect.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
 
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Saturday, May 04, 2013

Why The Numbers Are Stacked Against The Congress in 2014

It’s an old cliché no doubt, but elections often are about numbers, mathematics and cold calculations. Yes, charisma, ideology, policies and campaigning strategy do matter. But at the end of the day, it really boils down to numbers. That is the reason why the Republican challenger Mitt Romney looks all set to lose badly to Barack Obama on November 6 when Americans vote for a new President. He is losing despite the terrible economic situation in the United States since Obama took over in January 2009. Obama should have lost, but it is numbers that are working for him. Republican ideology, particularly the hard line attitude of the faithful, has alienated huge chunks of voters. Women, students, blacks and Hispanics are overwhelmingly against Republicans and will vote for Obama. The number of these groups of voters will surely outnumber the angry white voters who will vote for Romney.

Of course India is vastly different from US. And of course, elections are still – at least officially – far away in 2014. But even at this early a stage, it is easy to see why the numbers appear stacked against the Congress in 2014. And that is the reason why Sonia Gandhi and her advisors and strategists are a worried lot. I am not talking just about the impact of the serial scams like Commonwealth Games, 2G, airport privatisation, Coalgate and the latest irrigation scam in Maharashtra. I am not talking just about the venomous bite of inflation that is destroying household budgets. I am not talking just about the manner in which Prime Minister Dr. Manmohan Singh has become the butt of jokes and cruel humour despite the recent and futile efforts of some sections of the media to portray him as a decisive leader. I am not talking just about the damage that reluctant allies like Mulayam Yadav, Mayawati, Sharad Pawar and Karunanidhi will inflict during the run up to 2014 even as they prop up the tottering UPA regime. All these things will have an impact on Congress’ fortunes in 2014. No doubt about that. But it is the curse of cold, hard numbers that could have a more dangerous impact.

Before we get into the analysis of the cold, hard numbers, let us first take a cold, hard look at the factors that led to the triumph of the Congress and the UPA in 2009. Everybody talks about how the jholawallah advisors of Sonia Gandhi who comprise the National Advisory Council crafted the Congress victory of 2009 by coming up with schemes like NREGA. Then there was the Rs.600 billion farm loan waiver announced in 2009. If you believe these played a decisive role in 2009, you are misinformed and wrong. Overwhelmingly rural states – where you would expect to find grateful beneficiaries of NREGA and farm loan amnesties – like Odisha, Chattisgarh, Bihar, Jharkhand and Madhya Pradesh did not give a lot of seats to the Congress. Including Uttar Pradesh, the Congress managed just 46 out of 195 seats from these states in 2009. In fact, the Congress and the UPA did amazingly well in urban constituencies in 2009. It won 13 out of the 13 Lok Sabha seats on offer in Delhi and Mumbai. That performance was last seen perhaps in 1984 when Rajiv Gandhi swept India in the aftermath of the assassination of Indira Gandhi. So fact number one is that Congress did fabulously in urban centers.

Fact number two is the massive vote against the Left in West Bengal and Kerala that gave Congress and the UPA 39 out of 62 seats in 2009 in these two states. Fact number three is the strong alliances that gave a lot of seats to the UPA in 2009. In West Bengal, Tamil Nadu, Kerala and Maharashtra, the Congress and the UPA managed to win a massive 98 out of 159 seats in 2009. And who can forget fact number four – YSR Reddy who, along with the Majlis-e-Ittehadul Muslimeen (MIM), gave the Congress a spectacular 34 out of 42 seats in Andhra. In 2009, YSR was clearly the incumbent hero who simply swept aside all opposition despite loud whispers of numerous scams and instances of crony capitalism. The last factor is the suicidal behaviour of the BJP that gave the Congress 20 out of 25 seats in Rajasthan in 2009.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
 
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Friday, May 03, 2013

“Increased costs will be passed on to consumers”

Rajan Mathews, Director General, COAI, laments that the recent slew of policy decisions is extremely debilitating for an already struggling industry.

B&E: It is being put forward that the incumbents already have enough spectrum and may not bid at all. Won’t this encourage monopoly in the hands of a single operator?
Rajan Matthews (RM):
It is not true. In fact, the scarcity of spectrum is affecting roll-out obligations and the Quality of Service of the operators. Being the 2nd largest telecom market in the world, it is actually ironic that average spectrum availability with Indian operators is significantly lower than in other leading markets in the world. Most operators who have been in the market for some time now have a fairly large subscriber base, which needs to be catered to with appropriate Quality of Service and outreach. Lack of spectrum leads to dearth in capacity for serving subscribers and further roll-outs into rural, semi-urban and urban areas; and leads to a substantial rise on the OPEX. In fact, if the operators did not require more spectrum, there would not have been so many representations made by them to the government regarding the high reserve price being set for the auction. The only reason for operators to shy away from the auction would be the exorbitantly high reserve prices that threaten sustainability.

B&E: What are your thoughts on refarming of spectrum against the high prices that have been set?
RM:
The entire restructuring of an efficient network, by ripping off the existing infrastructure, disconnecting the connected and then deploying an infrastructure, which is more demanding both in terms of capital as well as space and construction, does not bring any sense of benefit to our minds, whether to the industry, or the consumers.

As per an independent study conducted by Analysis Mason, operators with 900 MHz band will need to replace 286,590 base stations and install an additional 171,954 base stations to provide equivalent coverage on 1800 MHz; which will lead to an incremental capex of Rs.54,739 crores, and incremental annual opex of Rs.11,762 crores. Also, operators will have to write-off existing 900MHz assets at an estimated cost of Rs.22,310 crores. At an industry level, additional capex of about INR 26,653 crores will be needed to deploy new towers to support incremental base stations.

In the scenario that operators with 900MHz spectrum are unable to provide equivalent coverage due to business case and operational feasibility, there is a risk of reduction in geographic coverage by as much as 40%. This is estimated to directly affect connectivity to about 70 million subscribers, and consumers trying to reach them. Also, the business case for a new operator acquiring 900MHz spectrum at the proposed prices will not allow for expansion to rural markets. If incremental investment in refarming and the costs of spectrum are passed on to consumers in the form of higher retail voice tariffs, overall tariffs will go up by as much as 64 paise/minute, with much higher impact in non-metro circles.

B&E: What’s the expected impact on the already high D/E ratio?
RM:
It is extremely unfortunate that a slew of policy decisions such as auction of spectrum, one-time fee, refarming etc. are being imposed on the industry when it was already grappling with business viability and sustainability. Such decisions have further increased the financial burden on operators, leaving no scope to absorb the increased costs. It has been brought to the notice of the Government and the ministry that India has one of the lowest EBITDA margins of 29% among emerging Asian economies (36% on an average). Several operators report negative PATs and will not be able to cash break-even in next 5-7 years. Similarly, most operators report a negative or low return on capital employed. Hence, these increased costs will eventually be borne by consumers in the form of higher tariffs for the services.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
 
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Wednesday, May 01, 2013

Zuck, buy-back your shares!

Facebook shares are trading at less than 50% of their IPO value, and the street seems to have just about given up on the IPO. While Zuckerberg made some money by selling his stock initially, he can make a bigger killing by buying back Facebook’s shares from the market at the current dismally low prices

Facebook is still a success story, but the gross underperformance of its shares post the much hyped IPO has certainly raised some eyebrows. Investor concerns seem to override their enthusiasm for the world’s most popular social network. Facebook, which was initially valued at $100 billion commands a far humbler m-cap of $41.03 billion as on August 27. The share stood at $19.15 on this day compared to the launch price of $41.

Investors are worried about the sustainability of social networking companies. The revenue tap is still not in the best of health with brands unsure about how to leverage these sites. A recent research by O&M and Ipsos covering 153 executives across A-PAC highlights that 66% of executives polled considered social networking sites to be great for buzz building (just 20% in India). However, only 2.6% considered them great for brand building. Facebook, which reported a loss of $743 million for Q2, 2012, has to really look for ways to change perceptions on that front. Co-founder Dustin Moskovitz sold 450,000 Class A shares in three days. Three top executives – Director of Platform Partnerships Ethan Beard, Director of Platform Marketing, Katie Mitic and Mobile Platform Marketing Manager Jonathan Matus have announced their resignations; indicating a major crisis of confidence across the board.

Although, Mark has made a lot of money with the IPO (he sold 30.2 million shares at $37.58 per share in May 2012), his wealth has shrunk drastically. Considering he owns around 503.6 million shares as per estimates (including stock options), his net worth as on September 4, 2012 stands at ‘just’ $9.64 billion. But he also has a great chance to make more money by buying back shares at the current prices, especially if he is certain of the company returning to its promised aura. This will also enable him to retain his vice-like grip over Facebook. To top it all, by betting on Facebook again, he could lead from the front and demonstrate his confidence in the company he founded.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
 
For More IIPM Info, Visit below mentioned IIPM articles