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As India takes on the presidency of the G20 in December the first steps are being taken by the German Foreign Minister Annalena Baerbock to build closer ties with India. The Hindu gives this intervew with Baerbock that shows Germany's keen interest in building the India Germany partnership. This sets the stage for the bi-annual India Germany summit meeting, with German chancellor Scholz to visit India in early 2023. Some of Baerbock's comments show energy and enthusiasm for India to work closely with Europe. "Our countries have so much to offer one another. We want to tap that enormous potential. One such example is the concrete agreement we will sign during my visit, making it a lot easier for both Indians and Germans to study, research and work in our respective countries." "Today's era is not the era of war, that was Mr Modi's message to Putin- that was the resounding message and I highly appreciate India's seminal role in achieving this." ...

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In this report in TOI, Vijay Gokhale, former foreign secretary, points out the big shift taking place in how Germany like the US is paying attention to its mistake of overconcentrating its supply base and investments in one country, China. This type of overinvestment in one country does not make sense for a country for its supply chain, until one accepts that China succeeded to a great extent in building next generation infrastructure, logistics, and ease of manufacturing in China. India is only now learning this lesson- and Modi's experience in Gujarat stemming from studying China's evolution as an industrial nation. Lessons that are now being applied all over India to do, to build the kind of next generation infrastructure and logistics that would make it attractive to make in India and invest in India for Germany and the US. Gokhale describes the intense discussions that are taking place in the inner circles of all three parties, Merkel's CDU out of power questioning Merkel's policies of building so much concentration of business in China, the SPD questioning why it went along, and the Greens knowing that India is their natural partner and the one partner that thinks and acts most like the Greens Baerbock and Habeck. Baerbock is critical of the sale of a stake in Hamburg port to China. No other German leader is like Baerbock, who feels really at home in India in a way that few German leaders have during her recent visit. There is so much change in the Biden administration and in the three major parties thinking about China and how the future of the western nations rests squarely on India's shoulders and its young aspiring population of 1.2 billion, that even India under Modi's leadership for technological change and infrastructure has not kept pace with these changes. This is why Gokhale calls it tectonic. ...

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About 600 US and European company brands are leaving Russia. This report in the WSJ shows how ordinary Russians are coping with jobs in limbo. Many of these companies are continuing to pay employees but jobs remain uncertain. This includes companies like Sweden's IKEA that are popular in Russia. As western sanctions make operating difficult companies future is uncertain. This is creating anti-Western sentiment particularly in the rural areas which use mostly Russian made products and which are Putin's main source of support. Even Russians who question the attacks on Ukraine are skeptical how the withdrawal of these companies helps find a solution for Ukraine. This is happening even as the errors made by 4 term German chancellor of increasing the dependence of Germany on Russian energy supplies from 36% during Putin's annexation of Crimea to 55% today are becoming abundantly clear.That makes an energy embargo on Russia difficult for Europe, with German business saying this would be "catastrophic" because it is unprepared even though this alone provides about $1 billion a day to Putin's Russia. Meanwhile EU and other western leaders call attention to India's drawing 1-2% of its energy supplies from Russia even though one month of Indian imports is equal to just one afternoon of European oil and gas imports from Russia. India has done more than Merkel's Germany to meet the need for humanitarian vaccine assistance for the poor countries of Asia and Africa, Middle East, and is now engaged in meeting the needs of the world for foodgrains after the fallout from an Ukraine crisis that is a result of emboldening of Russia from Merkel's policies.  ...

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As the first military plane with 100 deportees from the US lands in Amritsar in the Punjab state, there is this reflection in India on why migrants decide to come mostly from Gujarat and Punjab two of India's prosperous states, and Gujarat a centre for industrial development under Vikshit Bharat 2047. Modi visits Washington Feb 12 for meetings with DJT.  Times of India says agencies that track illegal migrants report 90,415 migrants illegally entered the US from Mexico or Canada between October 2023 to Sept 2024. Half of the 90,415 migrants were from Gujarat. The two leading states for migrants are Punjab, Gujarat followed by Haryana, UP and Maharashtra.  In the Punjab this report shows business communities and urban professionals as part of the illegal migrant flow looking for better life- for reasons of governance, and social security, including people from well to do families. And not for reasons of job scarcity. And this is changing demographis with decline in population in Punjab with it being made up by migration from Uttar Pradesh, Himachal Pradesh and Bihar states into Punjab.     ...

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With China's economy contracting China is now reviving the sidewalk trade with hawker stalls, food trucks, and other types of sidewalk retailers. Chinese premier Li Keqiang says small entrepreneurs at the micro level are as important as larger business to keep unemployment low. Li says these small traders are as important "as vital to China as bigger and more high end businesses." He is now promoting these smaller business enterprises and individual business owners saying "we will support you," and praising food stalls for their contributions in the past before China industrialized to "human culinary culture."  Only when the economy took off and large companies emerged were these small businesses forgotten. This reverses the Communist party's instructions to close street vendors. Li says that in Chengdu, population 14 million, 100,000 jobs were created in a few weeks by allowing 36,000 street vendors back on the streets.  In fact the informal economy plays a big role in India and other countries in Asia and Latin America, Africa. ...

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The Indian public from retired businessmen, farmers, students, and the press are coming out in support of anti-corruption leader Anna Hazare's call for effective legislation to control corruption of public officials in India. This comes after a number of corruption scandals and lack of action from the Congress government. The government's bill in parliament - introduced after pressure from public opinion- sets up an ombudsman or Lokpal agency, which would exclude from its jurisdiction the very public officials over whom it was meant to exercize oversight. Under the government's bill the prime minister, the public officials in the bureaucracy and the judiciary would be excluded. This has set up a confrontation with an increasingly exasperated public, with Hazare's protest fast in central New Delhi as the catalyst for protest across the country. The Prime Minister Manmohan Singh told parliament that he sees it as an issue of parliamentary sovereignty, as Hazare's protest is for a version of the bill that he has drafted to be adopted. But the public's sense is that Hazare is only responding with his own draft of the bill because of the government's effort to make only a token effort by not giving the anti-corruption body the powers it needs to function effectively. The response has brought thousands of demonstrators from around the country to Tihar jail where Hazare is being held by the government after his arrest. The situation is reminiscent of the protests against the British imperial government by Mohandas Gandhi, and in this sense has serious implicatons for how the country is governed. Corruption was prevalent in India during the days of the license Raj in the period 1950-1990 when business needed government permits in the closed economy of the Nehru period, and corruption existed in the bureaucracy in its delivery of public services. Since 1990 as the economy opened up and the growth rate increased corruption at all levels of government has in some ways increased and become embedded in the bureaucracy and government. This hurts the poor and the middle class the most, as corruption acts as a tax on the delivery of public services and infrastructure development, both badly needed in an emerging market country....

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The Indian PC market is expected to grow rapidly from now on with growth of 30% a year. About 9 million PC's will be sold in India in 2007. Lenovo, Dell and HP and local maker HCL are all gearing up with extensive sales plans and product lines. The Indian market will see increased sales from larger companies and strong growth also from consumers and small business. In March HP opened a new factory near Delhi, and Lenovo will open a new plant in Baddi in northern India in july to make 2 million PC's, Dell opened a new factory in Chennai in August. HCL is partnering with Intel to make a lowcost PC called the Classmate. HCL once dominated the market but has lost market share to H-P as it made the mistake of being late in the notebook market, only introducing notebooks in 2005. H-P increased its market share by selling in smaller cities in India. H-P has 21% of the market compared to 13.5% for HCL in 2007, according to IDC estimates. Over the past 3 years prices have fallen from $500 to $350, if prices fall significantly again, and there is strong competition between Dell, HP, Intel, HCL, Sony, Acer and other makers, then one should see the Indian market really take off across the spectrum, from larger companies, to small business and the consumer....

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President Biden is determined to stop the further loss of jobs in the US. He has sent Yellen to China to communicate this. India, the UK and Argentina are opening investigations into China's dumping of goods in their countries. Chile is considering new tariffs. Brazil and Indonesia are feeling the impact. They are joining the EU and the US to fight the danger posed by dumping by China. To offset a large property market bust China is pushing more investment in factories leading to overcapacity in markets, much of the product then ends up at lower prices in other markets around the world putting companies out of business in home countries and loss of millions of jobs. Couldn't other countries do the same. The US is taking that approach to support its own industries. Economists and business leaders in the US who have never felt the pain from factories closing have let America down with textbook theory that ignored this leading to the loss of 2 million jobs in the 2000 era, with failed presidents since then ceding American advantage in manufacturing.  ...

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The number of countries visa free entry is the wrong way to give passport rankings as learning from other countries and cultures, learning about their scientific advances and manner of thinking is key to the huge changes that happened in Asia- in first Japan by 1900, South Korea and Taiwan, Singapore, Hong Kong, by 1960's, China by 1990's and India by 2010- as the people of these countries interacted with Europe and the US. Interaction with Europe and the US is key for Asian nations.  This happened even earlier as Americans by 1880's interacted with Europe through ship voyages across the Atlantic in 7 days. This brought knowledge of scientific advances and ways of thinking from Europe to the US accelerating pace of industrialization in the agricultural economy in the US in the 19th century.  In 2025 the visa free access for US and EU to some of the advanced Asian nations, Japan and China is key to bringing back knowledge of scientific and other advances to the US and EU.  India and China should be compared. At Munich and other German EU airports China has the kind of visa free and fast track entry that does not exist either for the US or India. The writer experienced this on a recent visit in 2025 with a US passport denied entry to the fast track lane reserved for Chinese, Japanese, Korean and other travelers. India's bureaucracy, and US's lethargy, and the sheer lack of serious effort comparable to China and Japan in getting fast easy access to EU is to blame , particularly for the travelers who are most likely to gain from such interactions, the educated middle class and business people of India and the US. One could go so far as to say that one of the keys to China's advances is its ties to Germany and Hamburg and entry ports in Netherlands to the EU. EU is the source of technologies and of scientific knowledge freely available to China 1990-2025. For this to happen advanced logistics and ship- port building had to take place. India must do the same and much faster than anything that happened before 2025 at a pace as fast as China's if it is to reach it's potential in the world economy alongside the US and EU. ...

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DW.com's Science section provides this report that shows detailed graphs, and information on the dangerous use of pesticides that lead to poisoning  for 385 million people in agriculture every year. Farm workers in countries like India are particularly affected. The Heinrich Boll Foundation of The Friends of the Earth, Le Monde, and Pesticide Action Network Germany, supported this 50 page report presented in Berlin recently. The business of pesticides is worth $35 billion for large companies, yet brings with it many dangers for food contamination, water pollution, environmental damage.  Prime minister Modi in India has shown foresight and vision in tackling the problems from plastics pollution in cities and from pesticides pollution in agricultural areas. He has warned farmers about its dangers and the need to use some of the traditional methods for agriculture that avoid extensive chemical fertilizer and pesticide use. The alarming use of pesticides leads to the highest pesticide contamination of water, soil and air in the world happening in Latin America. In Nepal and India alternatives to pesticides are found in a mixture of herbs and cow urine put on the plants. Pesticide prevention in organic agriculture is also done by banning synthetic pesticides, and crops rotated in a way to prevent monocultures while encouraging insects and birds to thrive. French farmers promote organic farming with many methods they have pioneered that also promote biodiversity, which can be copied in India and rest of Asia, Latin America, Africa. ...

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US effort to strike economic deals and business deals that will change the direction of South and Southwest Asia in ways that are the need of the hour. DJT replaces the failures of the Republicans under Reagan, and his 1983 Middle East Envoy Donald Rumsfeld, who knowing about the use of chemical weapons intervened on the Iraqi side with arms support that led to the subsequent wars. Rumsfeld was to lead the US into Afghanistan War in 2001 and into Iraq War in 2003 by his Office of Special Plans intelligence. By contrast DJT wound down these wars and is now setting a new path to peace in the Middle East by showing the economic path that India now leads for South Asia, and South west Asia's Saudis, Qatar, UAE and Pakistan. This is a remarkable change for Republicans and the Nation, which has the support of well meaning Democrats, including Biden.

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Which European port is at the center of Europe's wind energy project. Answer: Esbjerg, Denmark. On May 18, 2022 the heads of state of Denmark, Germany, Netherlands, and Belgium came together to sign the Declaration of Esbjerg. Together the countries want to increase wind energy production in the North Sea to 65 gigawatts (GW) by 2030 and rising to 150 GW by 2050. Esbjerg is one of the few ports in Europe and the key port serving the offshore wind industry. Industry leaders Vestas and Siemens Gamesa ship wind turbines from here, and Orsted provides spare parts that weigh several tons.  German ports such as Bremerhaven lack the infrastructure and it is tied up in disputes ending up in court. Dutch port of Eemshaven is much smaller. The harbor was recently expanded in Esbjerg by 0.5 million square metres to 4.5 million square metres or 45 million square feet. Environment groups are also part of this and there is no dissent in the planning. Here are some useful facts on wind power- Environment cost is 70 times less than that of coal fired power according to Germany's Federal Environment Agency. Within 3  to 11 months wind turbines generate the energy required to build them. No CO2 is produced in the electricity generation process but they do alter the landscape. The future of wind power giants is in the sea where the wind is reliable and strong. One such modern turbine can have an output of 10 to 15 thousand kilowatts to provide electricity for 40,000 people. Pioneers in wind energy are Denmark and Germany. Denmark gets 50% of its energy from wind power, for Germany this is 25%. Jobs are generated installing and operating these wind energy turbines. 1.3 million people are employed in it today. With additional wind propulsion energy consumption of freighters carrying most of the world's freight would be reduced by 30%. Wind and photovoltaic solar can combine for providing most of India's energy because of its sea coastline and having a lot of sun. To get an idea of what is doable in India - in Germany 41% of electricity demand is met from renewables mostly solar and wind. German farmers get 25% of their income from solar energy. Where Germany lags is in use of renewables for transport which falls to about 9% and for heating and cooling where it is about 18%, and it is making great strides to correct this. A big change is technology and how people use transport (more train than airline or automobiles), which will change the entire picture of how energy is created and used in the future. Energiewende the  term for this change is only beginning to take place with urgency in Germany in 2022. India needs to work closely with Denmark and Germany to stay in front of these developments.   ...

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With the decline of its hardware business making iPhones Apple is looking at other fields. It is launching cheap online TV subscriptions in streaming wars in competition with Netflix and others. Apple is launching a new TV streaming service Apple TV+ in 100 countries for 4.99 British pounds a month undercutting Netflix's price of 5.99 pounds. The new service will be started November 1, 2019. Disney plans a streaming service for 7 pounds a month starting November 12. This service is alongside iPhone 11 launch and anew iPad, a new iWatch. Buy any new Apple device and you get a 1 year streaming service free.  Sales of iPhones fell 14% in the April to June 2019 quarter to 39 million units. Samsung's business is growing by 4% to 75 million units and Huawei by 16% to 58 million units. Apple sees the need to increases its services business with a target of $50 billion in 2020. Apple sees itself more as a media and cloud services company as it makes this change. In markets such as India Apple's growth is limited by its failure to lower prices on new iPhones. In China it faces strong competition from Huawei. The trade tensions are increasing the strength of Chinese brands in the Chinese market. The market in U.S. and Europe is saturated after years of expansion. New iPhone models are costly and bring peripheral advantages such as more and better cameras and features such as screens that are not breakable- for the iPhone 11- not dimensions that are critical for making a costly purchase. After years of growth tech companies such as Apple, Google, Alibaba, Amazon are reaching a point where incremental growth is not what it used to be and most of the rapid growth behind them. Trade tensions are also limiting the outlook in the Chinese market, and pricing remains a major factor in the Indian market. Western markets are saturated. There are fewer and fewer substantial new ideas from these tech companies. ...

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Justin Lahart of the WSJ says the positive news from the May unemployment report comes as a complete surprise. No one expected the addition of 2.5 million jobs, and the reduction of the unemployment rate from 14.7% to 13.3% for May, as reported by the Labor Department. Lahart says that even though the response rate for the Labor Department survey measuring the jobless rate had only 67%- instead of the usual 82%- it is broadly reliable. About half of the jobs bounceback comes from the leisure and hospitality industry. Some of this from the creative ways restaurants responded by doing an active takeout business and bringing in some of the workers.  Other businesses also responded in creative ways to keep running. As long as the reopening of the economy can be done safely, more people can be back to work. The significant relief from the government for small business could also help these businesses weather the crisis. The Global Vaccine Summit recently opened provided more positive news. Plans are underway for India's Serum Institute to produce 400 million doses of the Oxford vaccine by December, providing more hope for recovery. ...

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Azimji Premji of Wipro is one of the few Indian business leaders with a strong bonding with Gandhi's ideas of personal responsibility for India's betterment and the betterment of millions of ordinary people in India. He says Gandhi influenced him only next to his mother who ran an orthopaedic hospital for disabled children for 50 years, and learned what it took to do this as well as the difference it made in people's lives. He quotes Gandhi as his own personal philosophy-  "Supposing I have come by a fair amount of wealth- either by way of legacy, or by means of trade and industry- I must know that all that wealth does not belong to me; what belongs to me is the right to an honorable livelihood, no better than that enjoyed by millions of others,. The rest of my wealth belongs to the community and must be used for the welfare of the community." Azimji Premji gives as three enduring parts of Gandhi's leadership- the pursuit of truth, the importance of means over ends, and empathy for all human beings. He cites a saying of Gandhi to be seen at Sabarmati Ashram and Gandhi Smriti- "I will give you a talisman. Whenever you are in doubt or when the self becomes too much with you, apply the following test. Recall the face of the poorest and the weakest man (woman) whom you may have seen, and ask yourself of the step you contemplate is going tobe of any use to him or her. Will he or she gain anything by it? Will it restore him (her) to control over his (her) own life and destiny? In other words will it lead to swaraj for the hungry and spiritually starving millions? Then you will find your doubts and your self melt away." ...

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DW.com shows the Straits of Hormuz where the Persian Gulf meets the Gulf of Oman before it meets the Arabian Sea facing India. Ships cross a narrow space of 2 miles in the narrowest point that is 21 miles wide in the Straits of Hormuz. The UAE, Oman face Iran in that area. 20 million barrels of oil by tanker traffic cross the Straits of Hormuz every day. India, China, Japan and EU depend on the Straits of Hormuz for oil supplies making it critical for sea navigation. Iranian parliament  has threatened closing of the Straits as aresponse to the US strike on nuclear weapons development sites. China and India lose cheaper oil supplies from Iran as a result of the Israel-Iran war. Russia, Saudis, UAE, Qatar, gain because it increases the price of oil supplies from Russia. Iran loses a source of oil revenue with damage to its oil facilities. The Israeli economy is resilient and its stock markets are showing rapid growth as the war changes the Gulf region and  Southwest Asia, South Asia moving it in the direction of economic and business deals and agreements that enhance improvement in the lives of the people away from decades of conflict from the colonial era in which the British and the French gained control of the Gulf region and Iraq, Syria after the collapse of the Ottoman Empire, the anti colonial regimes that failed to provide development, the CIA's intervention under Dulles and Eisenhower to remove the democratically elected government of Mossadegh in Iran in 1953 and its repercussions in the Reagan period with Rumsfeld/Reagan compounding that error by supporting Iraq's Hussein leading to 3 decades of loss of American lives in the region's wars and also endangering Israel. ...

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As this editorial in the Hindu points out enabling land acquisition for industry is still one of major problems facing India as it struggles to modernize its economy and create manufacturing jobs. Amendments to the land acquisition law was a top priority of the Modi government in its first year in 2014-2015. The effort stalled with Opposition resistance and opposition of farmers groups. Even as India moves up in the World Bank's Ease of Doing Business index it still remains below the top 50. The prime minister of Singapore on a visit to India made it clear that these problems restrict the level of investment in India and the speed of its modernization effort. As the Hindu editorial points out the need to win farmers votes has prevented further moves to amend land acquisition laws so that industrial development can move ahead. This can be costly for India if it means fewer jobs created, and costly for the government in its effort to win votes without being able to show the results of modernization in new development, new infrastructure and new jobs created.     ...

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A $100 billion infrastructure project to create a high tech manufacturing and freight corridor between New Delhi and Mumbai with a third of the money coming from Japanese public and private money will be announced this week during Japanese Prime Minister Abe's visit to India this week. Japanese investment in India is expected to rise from $515 million in 2006 to $5.5 billion in 2011. Lack of infrastructure has been a key constraint to investment in Indian manufacturing and this project hopes to address this problem. This would include airports, ports, and a high speed freignt line for the 1500 kilometres between New Delhi and Mumbai. CEO's from companies such as Toyota, Mitsubishi, Canon, Hitachi have joine a new Japan-India business leader forum. Toyota plans to increase manufacturing capacity to 600,000 in India by 2015. Japan played a major role in the rapid modernization of Korea, China, and now is likely to do so in India as well.

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Ford has lagged behind other car manufacturers in entering markets in India and China. Ford now plans to increase investments in India. Ford gets 3% of its total sales from India, compared to 10% for Brazil. The goal is to generate one third of its sales from Asia and Africa. As part of this effort Ford plans to build 2 new plants in India. The two plants will be built in Sanand, Gujarat, by 2014, employing 5,000 and with a capacity of 240,000 cars and 270,000 engines. Ford's existing plant is in the south, in Tamil Nadu, with 5000 workers in manufacturing, and 5000 other office employees. Ford cited advantages of Gujarat being the port facilities for exporting cars and the pro-business climate in Gujarat. Toyota which was also slow to enter the Indian market, plans to invest $220 million to double production capacity to 310,000 by 2013.

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The Blinken Wang Yi meeting at the G-2- in Indonesia is the first high level meeting between US and China since March when the Ukraine war started. In the press briefing after the meeting Blinken said "more than four months into this brutal invasion the PRC stands by Russia." He pointed to Beijing support of Russia at the United Nations, dissemination of Russian talking points through Chinese state media and joint military exercizes with Moscow. One aspect of the relations that is beyond the control or good intentions of the two countries top diplomats is the tit for tat response that began with the presidency of Donald Trump. Trump may have seen this as a way to talk to the voter base fed up with two decades of one sided trade with China with manufacturing shipped out to China and local communities of families and workers in regions across the US losing jobs and in decline. Much of this shift was done by US companies during the Clinton, Bush and Obama administrations over two decades. The strident tone adopted by Trump was met by tit for tat responses in Chinese media till the pandemic when it assumed a new aspect of Chinese origins of the coronavirus. The result is that Sinophobia in the US is met by a response in Chinese media and in the thinking of the Chinese leadership under Jinping that now sees the relationship as having already shifted during the pandemic. The paradox in this is that the US in its effort to get other countries on its side is only beginning to make an effort of get America's own companies and large business investors on its side. Most American companies are still continuing trade and business with China as before.  The same situation exists with the shift of manufacturing from Japan and the European Union to China, with the loss of jobs and decline of local communities that depended on manufacturing. Japanese and European companies are acting in ways that are similar to American companies. Having managed the shift of manufacturing from European Union and Japan to China these companies have done little to change this business situation in 2022 carrying on as before. This is the paradox of the current situation that business both in the US and EU, and Japan is not on the side of their governments, even as their governments attitude to China, particularly now after the pandemic and the Ukraine war has shifted drastically. Alongside this is the popular opinion that has shifted gradually over the last 10 years in the US and EU, first in these very local communities that lost manufacturing to China, and then across broader sections of the public, and now across whole regions of America, Britain, the EU and Japan. This shift in popular opinion has little interest in the way business conducts business overseas or governments conduct diplomacy in nuanced statements. As a result neither the governments of the US, EU and Japan or the business of the US, EU and Japan are in control of this shifting situation that has its momentum and pace operating quite independently of governments and business. And public opinion across America, Europe, Japan, and also in India is moving in an entirely new direction.     ...

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Former prime minister Nawaz Sharif's PML-N party wins 125 of 269 seats in Pakistan's parliament. The Tehreek-e-Insaf party of Imran Khan won 31 seats and the PML-N party of the current president Asif Zardari won 32 seats mostly in Sindh province. Independents won 31 seats and some of these independents are likely to support Sharif in forming a new government. Election turnout of 60% showed a large degree of enthusiasm in this election and hopes for economic revival in Pakistan. The focus of Sharif will be on improving the economy, tackling electricity shortages, and building infrastructure. Sharif promised to pursue peaceful relations with India and Afghanistan, and keep the focus on the economy. Sharif and his advisers are bringing a new deftness in the dealings with the Army, the Pakistan Taliban, saying he would call for a halting of drone strikes, limiting the role the U.S. plays in the region, both positions popular in Pakistan, separating differences with former president Musharraf from the institutional role of the military. Small business owners and large business support Sharif's efforts to tackle electricity shortages, with an estimated loss of $12 billion in idled factories alone. The long period of political conflicts between the military, the judiciary and the political parties have led to neglect of Pakistan's economy, as neighboring countries in Asia surged ahead. The realization that popular pressure for improving standards of living and the economic opportunities are both huge has led to an extraordinary election, and put Sharif at the centre of an important new beginning for Pakistan. ...

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Montek Singh Ahluwalia, head of India's Planning Commission, tells a weekend business conference of the government's intention to move towards making the rupee fully convertible and lifting all restrictions on foreign exchange transactions. India's prime minister, Manmohan Singh also said the government "was far more comfortable" making this move.This would make India vulnerable to sudden foreign exchange outflows. India has foreign exchange reserves of $144 billion and is in a position to make the move, especially as it brings the advantages of attracting more foreign investment to the country. Another advantage is the opportunity to make Bombay a financial hub in Asia, especially as the Indian economy develops and India's strengths in the financial industry and its human resources in that area make themselves felt.

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How ArvinMeritor navigated the treacherous waters of the automotive parts buzsiness since 2000 when the company was formed taking in the automotive business of Rockwell International in Troy, Michigan. The combination was designed to bring the automotive parts business for roof and door systems, chassis and wheel products with the comercial truck business which makes drivetrain systems and components like axles, drivelines and braking systems. The business is in turmoil and ArvinMeritor last recorded a profit in 2005. Here is how they did it. First, the combination provided some linited diversification for the cyclicality of the automotive business passenger cars and trucking together. By 2004 the foreign makers especially the Japanese were taking market share from the Detroit Big Three car makers which only accelerated after that when the Big Three overconcentrated on SUV's and had no competitive car lineup to match the Japanese in 2007 and 2008. The Big three closed plants and companies like ArvinMeritor closed plants also. In the last couple of years first GM and then Ford began to emphasize emerging market countries like China, Russia, Brazil and India. Wagoner GM's CEO in citing improved results in 2008 specifically referred to the $500 million profit in Brazil as making this possible. He also said that when investors see the improved results so early they are forgetting that the model that GM has setup has changed completely from the model that investors were used to in previous years which was a large and growing US focussed market base. Now its a global focussed market base with particular focus on emerging markets. ArvinMeritor has followed this pattern and set up parts plants in new countries like Russia to supply the Big Three's plants there. But it appears from Phil Martens, Arvin Innovation's CEO's statement that only 20% of global automotive sales for ArvinInnovation, the automobile part of the busines that is being setup as a separate company, are coming from the Big Three of Detroit. And 65% of the sales are coming from outside North America. Which suggests that 15% of sales are coming from the foreign carmakers in North America. ArvinMeritor closed 11 plants in North America and the new company Arvin Innovation has 42 facilities in 16 countries with sales of $2.2 billion in fiscal 2007. ...