India as an investment destination

India is in the big league now and the world is seeing it in new light as an emerging global economic power. A recent Goldman Sachs' Report put India alongside Brazil, Russia and China (BIRC countries) as the fastest growing economies over the next four decades having a larger combined GDP than today’s G-6 countries. Similarly, in a survey carried out by DSP Merril Lynch, 67 per cent fund managers have expected robust earnings to drive up corporate profitability by this fiscal.

The Asian Development Bank also brightens hopes on India. FIIs are more confident in our economy as they have invested over $ 5 billion in equity market — four times more than what they brought in last year. They have invested over $1.2 billion last month. The cumulative investment in India has crossed the $20-billion mark over the past 10 years.



International investments guru Marc Faber also finds India the most attractive investment destination now in Asia. Our progressive economy too reflects this robust optimism and upbeat mood in higher productivity and GDP, buoyant and vibrant capital markets, bumper harvests, strong rupee, low inflation and low interest rates and burgeoning foreign exchange reserve expected to touch $100 billion. Now is the time to accelerate the reforms programme, privatisation, structural reforms, massive fiscal stimulus through infrastructural outlays and rationalisation of labour laws to ignite the growth engine.

dr b.l. tekriwal, Mumbai

Elitist plank

I feel greatly flabbergasted over Mr Anand Prakash's thrust of the argument in his letter “Hema Malini better than Rabri Devi” (Oct 29). He attributes the root cause of the country's ills to the “vote of an intellectual...which carries the same value as that of an illiterate.” Shorn of frills, it is nothing but an exercise in intellectual snobbery, pomposity and sophistry at worst.

He appears to have glossed over hard facts and the history. The rustic and illiterate people in the country are well endowed with political sagacity and wisdom. Whenever their interests have been hit by the ruling political elites or they have behaved in a deviant or undemocratic mode, these illiterate people have voted them out.

dr prem singh dahiya, Rohtak

Liquor vends

The report “Liquor vends spell doom on highways” is a timely warning for people and the government (Oct 29). While going to Pathankot, part of road passes through Himachal. There is a stiff competition between the vendors of both states.

One can see small advertisements for cheap whisky even on trees. Shops alongside the road have come up in the shape of wooden khokhas under unhygienic condition. People drink merrily sitting on stools provided by vendors. All this is happening against the excise rules in the full view of officers, ministers and other public representatives who pass through these roads, in spite of directions of courts as mentioned in the report.

p.s. randhawa, Dhapai (Kapurthala)

Gorkha Rifles

Apropos of your report “Re-union of Gorkha Rifles” (Oct 30), there are discrepancies in it. Deputy Chief of Army Staff Lt-Gen Ashok Chaki is Colonel of 4 GR and not 1 GR whereas Maj-Gen Basant Singh is Colonel of 1 GR and not 4 GR. Further, the 4 GR was raised in 1857 and not in 1957.

The 4 GR Regimental Centre was at Bakloh Cantonment (Chamba district) and that of 1 GR at Dharamsala (Kangra district) till 1952 when the 4 GR Regimental Centre was shifted to amalgamate the 4 GR and 1 GR Regimental Centres forming 14 Gorkha Training Centre at Dharamsala. Later it was shifted to Chakrata, then to Dehradun and, finally, to Sabathu.

madan suri, Bakloh Cantt (HP)

Irrigation in Haryana

Apropos of Mr Sanjay Sharma’s article “Canal network lets down Bhiwani villagers” (Oct 31), the East Jamuna Canal (EJC) does not supply any water to Haryana as at Tajewal road, there are two canals offtaking the EJC and the WJC. The EJC caters to the needs of Haryana.

As regards shortage of canal water, it is true because the irrigation system in Bhiwani is basically a left canal system which is dependent upon so many factors, i.e upkeep of pumps and pump houses, proper functioning of canals and round the corner electric supply which can be augmented by installing diesel generating sets at main pump houses. However, permanent escapes are unescapable in lift systems because in case of failure of power, water has to be diverted into escapes for which land has to be acquired.

The pump houses require face-lifting as most of these were installed in early seventies. The Irrigation Department needs to have a fresh look at the working of the system to ensure better irrigation facilities to farmers in the southern side of Haryana.

d.k. talwar, Executive Engineer (retd), Irrigation, Panchkula


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