Tea Board to venture into Asia-Pacific markets via Singapore

Singapore: Tea Board of India today said that it is looking at Singapore as a platform to tap the export market in the Asia Pacific region, reports PTI.

"We have to use the mid-point to markets in Asia Pacific," Tea Board of India's deputy chairman Roshni Sen said after hosting the inaugural session of the buyer seller meet in Singapore.

"Overall, Singapore is a small market for India tea exporters but we see a role for the city state as a trading hub and financial centre to venture into the region," said Ms Sen.

The Asia Pacific markets are dominated by Chinese tea but Indian exporters are confident of offering good quality tea, said an Indian tea trader.

"Indian tea comes in wide variety and is of higher quality, which gives us the advantage to offer a wider range of tea to the region," stressed Jagmohan Chandrani, senior advisor to the Kolkata-based Link Export.

Meanwhile, the Indian high commissioner to Singapore, Dr TCA Raghavan has urged the board and Indian tea exporters to hold more interaction with Singapore-based traders and retail marketing groups.

He suggested that Indian tea officials hold a quarterly or biannual promotion campaigns in Singapore, citing the importance of the market place.

Singapore's major supermarket groups like NTUC would be keen to promote Indian products, including tea, he added.

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Corporate India fires first salvo against corruption

For the first time ever, leading luminaries from India have joined hands and issued an open appeal to the leaders of our country to speak out against the culture of corruption which has all but swamped our nation

The voice of outrage was only getting louder and louder, but this has to be one of the biggest blows to the UPA government.

Some of the most respected voices in India have spoken up against rampant corruption now, and have urged the government to bring a fast and effective end to widespread corruption in the country.

Renowned corporate personalities and public figures have addressed an open letter to political leaders and government authorities.

The signatories include Mr Jamshyd Godrej, Justice Sam Variava, Prof M Narasimham; Mr Yezdi Malegam; Ms Anu Aga; Dr A Vaidyanathan, Dr Bimal Jalan, Mr Keshub Mahindra, Mr Deepak Parekh, Mr N Vaghul, Mr Azim Premji, Mr Nachiket Mor, Justice B N Srikrishna and Dr Ashok Ganguly, as a small group of like-minded citizens who are concerned with the general deterioration in the overall value system of the nation, have released an Open Letter to the Leaders of the Country.

Identifying themselves as "a fraction of a very large number of Indians" who are concerned with the "general deterioration in the overall value system of the nation", these eminent personalities have urged the government to address two prevalent malaises-governance deficit and corruption-which has led to the chaos that prevails today in public life.

The letter says, "Our aim is to try and rise above the present clamour and seek a more confident and purposeful national environment. We should not allow India's huge growth potential and poverty alleviation challenges to be diluted or digressed from; otherwise it would be a great loss, especially to the poor and the dispossessed."

The letter says that "lack of governance" has affected "every sphere of national activity"; and decisions have become increasingly influenced by unwanted influences.

While the Judiciary has given people hope, it is also necessary to create "genuinely independent and constitutionally-constituted regulatory bodies, manned by persons who are judicially trained in the concerned field."

On the issue of corruption, the letter says, "The institution of Lok Ayuktas, vested with adequate powers, would go a long way in effecting the needed correction, as is evident from the example of Karnataka. There is a need for every State to have effective and fully empowered Lok Ayuktas and indeed for early introduction of the Lok Pal Bill at the national level, for the purpose of highlighting, pursuing and dealing with corruption issues and corrupt individuals. Apart from speedily installing independent Lok Ayuktas, it is essential that their investigative agencies and law-enforcing bodies should be made independent of the Executive."

The letter adds, "(The) time is overdue for India's elected representatives to distinguish between dissent and disruption," and "elected legislators and leaders must acknowledge and demonstrate their collective role in restoring a sense of purpose in national institutions." The letter also mentions that the benefits of growth are not reaching the poor, and Centre-state conflicts on serious environmental concerns have impeded economic development, which has proven counterproductive for the nation. "We believe that through urgent, concerted action in which we are ready to lend a hand, positive change can be achieved", the signatories have said.

The defence strategy of the scam-tainted government, as usual, has been to shift the blame on others and point fingers at the protestors. But when the questions come from some of the most respected figures who have established their reputation through commendable public work, it will be difficult for our politicians to challenge their integrity or shirk their responsibility.
 

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COMMENTS

K B Patil

5 years ago

It is certainly time to turn the heat on corporates. The arrest of an IT company MD should not be the end of it. This company has shown a total net profit of about Rs.157 crores. But, the charge against the MD is that of concealing income of 116 crores. If the MD has concealed so much, it is possible that even his associates must have had their share of the loot leaving small shareholders and the government high and dry.

During the Anna Hazare campaing, what was deafening was the silence of all corporate bodies i.e FICCI, CIE etc. They have not cared to show even lip sympathy to the campaign for a cleaner India.

REPLY

K B Patil

In Reply to K B Patil 5 years ago

The profit figures pertain to the last five years. For 157 crores, the MD is said to have concealed 116 crores. Now where does that leave the auditors of the company? Either they are complicit or thoroughly incompetent. Recently, the ICAI was bragging about its WORLD CLASS standards. What standards are we talking about when the whole corporate world is neck deep in filth?

Nagesh Kini

In Reply to K B Patil 5 years ago

In Satyam, it was plain and simple connivance and complicity on the part of its auditors otherwise it simply couldn't have go along for years.
The two news report with the most appropriate headlines are amply self-explanatory -
1.Economioc Times 29th Aug. :CAs as Whitstleblowers? ICAI is a divided house.
2.Free Press Journal 12th August.: Shield investors. Functioning of auditors, analysts under Sebi lens.

Unfortunately, both these so-called Regulators are toothless watchdogs that are neither capable of barking or biting. They are conferred with all the powers but yet they don't act. The US SEC acted on Satyam auditors our SEBI and ICAI are still chewing the cud!

Adi Daruwalla

5 years ago

Well the action has started but what is happening to these characters who are on the list?
When is the money coming back into circulation in India thorugh the central exchequer????
The projects that need attention are
govt health schemes,
govt education schemes,
roads the golden quadrilateral and the East to West connect also,
increase in public transport across states [Buses inter city(same city)and Intra city (state to state)]
increase in rail lines, rakes, inter city (local, metros) and intra city (express) .
river projects to supplement inadequate rainfall i.e. the garland river project, farmers commit suicide because of a lack of water and the loan burdens. (A recent report has shown millions of gallons of river water flows into the sea every year.)
lighting, power generation projects,
agricultural projects, for creation of agricultural wealth, storage and safekeeping and proper distribution.
THE DESTRUCTION OF CORRUPTION PROJECT (LOKPAL) SO ALL ABOVE CAN BE 100% IMPLEMENTED
And how many of these so called CORPORATE TOP HEAD HONCHOS CAN SWEAR THAT THEY HAVE NOTHING TO DO WITH SWISS BANKS OR MAURITIUS OR USA OR ANY OTHER HAVEN WHERE THEIR MONEY IS STORED

REPLY

Adi Daruwalla

In Reply to Adi Daruwalla 5 years ago

In a recent article that appeared in the DNA Aug 23, 2011, two experts Natrajan and Kallolikar want to impelement the river projects, its is not merely enough for them to state so and give statistics. The need of the hour is ACTION, everybody talks and does not WALK the TALK. So experts, corporate head honchos, talk and ACT and show results don't only talk.

Adi Daruwalla

In Reply to Adi Daruwalla 5 years ago

In a press interview recently Kapil Sibal is quoted to say ' Please check the sources of Anna's funds". Can Mr. Sibal and his UPA team first check the disproportinate funds of its own party members and bring it back into the Indian economy as I have stated above. Action is the need of the hour not gupshup.

Nagesh Kini

In Reply to Adi Daruwalla 5 years ago

Mr. Kapil Sibal, who defended the confirmed Justice Veeraswami, can you please tell India why the Govt. not seeking the right information from the Swiss banks when other countries can obtain it with ease. To quote the Swiss they are simply
"throwing the phone book" to make rowing enquiries!Even now it is not too late.

Adi Daruwalla

5 years ago

Nani Palkhiwala wrote on 16 January 1984. “The picture that emerges is that of a great country in a state of moral decay. The immediate future seems to belong to the doomsayers rather than to cheermongers. We suffer from a fatty degeneration of conscience, and the malady seems to be not only persistent but prone to aggravation. The life style of too many politicians and businessmen bears eloquent testimony to the truth of dictum that the single minded pursuit of money impoverishes the mind, shrivels the imagination and desiccates the heart. The tricolour fluttering all over the country is black, red and scarlet – black money, red tape and scarlet corruption.”
And Anna Hazare has got the nation a historic opportunity to curb the Politicos and the people who are following him from indulging in further corruption. Stop giving, Stop taking.

nagesh kini

5 years ago

The MDT has performed an excellent job in so effectively put across in so many words India Inc.'s take on the India Against Corruption movement.
While the list contains names of a wide cross section of society from judiciary to accounting and finance I don't find the presence of of the bigger guns more particularly in the manufacturing industry,MDT would do well to ascertain their views.

Siddhartha

5 years ago

Most of the communities in the entire Indian sub-continent(such as Bengali) succumbed in ‘Culture of Poverty'(Oscar Lewis), irrespective of class or economic strata, lives in pavement or apartment. Nobody is genuinely regret ed or ashamed of the deep-rooted corruption, decaying general quality of life, worst Politico-administrative system, weak mother language, continuous consumption of common social space (mental as well as physical, both). We are becoming fathers & mothers only by self-procreation, mindlessly & blindfold(supported by some lame excuses). Simply depriving their(the children) fundamental rights of a decent, caring society, fearless & dignified living. Do not ever look for any other positive alternative behaviour(values) to perform human way of parenthood, i.e. deliberately co-parenting children those are born out of ignorance, extreme poverty. It seems that all of us are being driven only by the very animal instinct. If the Bengali people ever be able to bring that genuine freedom (from vicious cycle of ‘poverty’) in their own life/attitude, involve themselves in ‘Production of (social) Space’ (Henri Lefebvre), initiate a movement by heart, an intense attachment with the society at large is very much required - one different pathway has to create, decent & rich Politics will definitely come up. – Siddhartha Bandyopadhyay, 16/4, Girish Banerjee Lane, Howrah-711101.

Rajan Manchanda

6 years ago

The group should be expanded to include eminent dignitaries like Mr.Narayan Murthy, Mr.Rahul Bajaj, Mr.Harish Salve , Mr.Soli Sorabjee.

The group should invite the Prime Minister , Finance Minister , Law minister for an open discussion on any TV channel so that the general public who are all concerned with the state of affairs get first hand information . TV channels like Times Now ...Mr.Arnab Goswami have relentlessly and fearlessely taken up these issues and it would be very interesting to watch such shows of discussions between the GOVT and the eminent personalities.

REPLY

Adi Daruwalla

In Reply to Rajan Manchanda 6 years ago

Waht is mentioned is right by you. But what Indians have been doing is only debating since 1947, the action would have resulted in better development in the last 50 years had there been zero corruption or minimal corruption. So along with debate we need to see concrete, susatianable, clean actions in the interest of the nation and the tax patying public at large. Not in the vested interests of only a few multi trillionaire politicians. Can u expalin why an IAS couple officers in Madhya Pradesh have unprecedented wealth, 25 falts 40 acres of land and 300crores in cash???

Rajan manchanda

In Reply to Adi Daruwalla 6 years ago

25 FLATS
40 ACRES OF LAND
300 CRORES IN CASH
AND WHAT ABOUT THE GOLD ?
THIS IS WHAT IS DETECTED.

WHAT ABOUT WHAT IS NOT DETECTED ?

IN MADHYA PRADESH NO BODY WAS AWARE OF IT ? IT WAS NOT GENERATED IN A DAY OR A MONTH OR IN A YEAR.

NO WIKILEAKS FRANCHISEE's IN INDIA ?

NO WHISTLE BLOWERS ?

IN A FEW MONTHS THE WHOLE EPISODE WILL BE FORGOTTEN !

nagesh kini

In Reply to Rajan manchanda 5 years ago

My thoughts are the same today as Rajan Manchanda's seven months back.
Why are the honchos other than Anu Aga, Godrej and a handful of others silent? Don't tell me suffer from a guilty conscience that they are afraid of voicing their support in publicy!

Adi Daruwalla

6 years ago

I am surprised my comments were not even accepted, though they were valid.

REPLY

malq

In Reply to Adi Daruwalla 6 years ago

What were they, please place them again? In any case, the credibility of corporate India is about as low as that of politicians or others currently on the low list, so have your say too!!

Adi Daruwalla

In Reply to malq 6 years ago

The comments are spontaneous and will not come in the same flow again. Its a writers thing you know. Re thought and re written does not have the same passion and impact. But you have sid it in a jist The Credibility of Corporate India is as low as the rat holes of this country and can't get lower, even the pig styes would be better.

Roopsingh

6 years ago

This declaration reminds of old Hindi proverb-SOU CHOOHE KHAKE BILLI HAJ KO CHALI-
The real pioneers of corruption(corporate culture)is today talking to fight against corruption-HAHAHAHA what a good joke-the above Hindi proverb fits entirely to such hypocrites.

REPLY

nagesh kini

In Reply to Roopsingh 5 years ago

Roopsingji
Biili ko to choodo, hamare neta-babu itna gooskhor hai ki Haj ya Kasi jane se bhi unke paap nahi dhoye jayenge!

dr kusum doshi

6 years ago

this was long over due. hope there is some impact.it is almost impossible to get any work done with out corruption

John Galt

6 years ago

MoneyLife must be really naive to describe these people as "most respected figures". Or perhaps you have also been paid to carry this article! It is like the govt. filing an affidavit in the Supreme Court that PJ Thomas is a man of Impeccable integrity!
Alas our standards have dropped so much that one can't find a single man of integrity or respect from the elitist class. It is an accepted fact that politicians, as a class, are corrupt. And one must not shy away from including the names of Sonia Gandhi and Manmohan Singh - the way the media does. But are the others like the corporates, the judiciary, the lawyers, the doctors, the high profile professors etc. etc. any better? Frankly, they may perhaps be worse.
I wonder whether MoneyLife can get the signatories to this appeal to issue a public statement that they have not offered a single rupee by way of bribe, have not received any favours, have correctly and conscientiously paid taxes on all their sources of income, have not violated any law of this country knowingly, have not had any rules bent in their favour, have led and continue to lead their lives like all other ordinary citizens of this country and have honestly "earned" the so-called respect and honour the media seems to be so indiscriminately conferring on them?

REPLY

Nagesh Kini

In Reply to John Galt 5 years ago

John - The comment you've made 8 months ago seems to be more relevant post-Ramlila Aug. 2011. I am inclined to agree on the description of 'most respected', without naming names, I'd say, you can't dispute the uprightness and credibility of a handful in the list of signatories. In case they are very honest let us all call the others to affirm.
I fully agree the whole class of netas-babus are an awful lot.
In Oliver Cromwell's words "In the name of God. (they should) go." Sooner the better.
We desperately need a good clean governance.

Utsal Karani

6 years ago

Corporate India should look within and take up governance issues in the Corporate sector and also take on the collusive corruption by the business community and Govt. Depts. Is Mr Deepak Parekh aware of huge FSI frauds, land grab, violations of housing laws by the builders in Mumbai?

ramchandran

6 years ago

All of us have equal responsibility to vote against corruption. I do not think a selected few can make a mark unless backed up by masses. We need to know our rights & stop being scapegoats & mere spectators to the high handedness of this Government

Kumar Aiyar

6 years ago

Where were Mr Deepak Parekh and Keshub Mahindra when thousands lost their lives in Bhopal? This Club is getting panicky when corruption charges are touching Indian companies like the Tatas. BTW, those who wll listen to Mr Parekh will get some award or the other as he is a judge of numerous panels including ET and Goenka awards. Mr Parekh raised voice against Modi after Gujarat riots and now he sits shamelessly in the front row on Vibrant Gujarat (or Modi) summits. This country can do without the advice of these hypocrites.

malq

6 years ago

And how many of these worthies, themselves, have paid off one-line or similar bills through various routes like legal advice, PR, advertising, and the rest of it - including the recent routes through CAs and ring funding through insurance / re-insurance routes please?

K B Patil

6 years ago

It is indeed heartening that the corporate world is concerned about governance. I hope that the govt. takes determined steps to clean up the system. Otherwise, whether rightly or wrongly,I fear that this govt. may go down as the most corrupt in the history of independent India. The pity is that this will happen under the leadership of a PM who is regarded as clean and upright.

L&T Q3 net up 11% to Rs840.63 crore

Larsen & Toubro Ltd (L&T) reported a jump of 10.78% in net profit for the December quarter at Rs840.63 crore.

The infrastructure major had a net profit of Rs758.82 crore in the October-December quarter last fiscal, L&T said in a filing to the Bombay Stock Exchange (BSE).

Total income also rose to Rs11,413.08 crore in the third quarter ended 31 December 2010 against Rs8,145.61 crore in the corresponding quarter last fiscal, it added.

On Monday, L&T ended 1.65% down at Rs1,681.15 on the BSE, while the benchmark Sensex closed 0.12% up at 18,882.25 points.

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