1 Indian IT cos not global (The Wall Street Journal) Although India’s IT and BPO industry has crossed the landmark $100 billion in sales, it still has a long way to go before it becomes a truly global power house, says Bryan Cruickshank, global head of IT advisory at consulting firm KPMG. “Indian IT companies are not truly global companies,” Mr. Cruickshank said in an interview. “Companies like TCS and Wipro have demonstrated that they have scale,” he said. “But they haven’t demonstrated that they are global.” There’s no doubt about the industry’s scale. The sector, which had revenues of $101 billion in the current fiscal year, employs 2.8 million people, contributes 7.5% to India’s gross domestic product and has up to 25% of the share of total exports. The sector does business in 70 countries and employs 40,000 non Indians.
Mr. Cruickshank agrees that the industry has achieved a lot. “But,” he warns, “customers see them as “providers” of IT services and not someone they are necessarily turning to transform their business. They don’t have a lot of innovation, don’t see them as truly transformational.” Companies continue to be attracted to India because here they can find employees at the lowest cost, according to Nasscom. For a company in this sector to wear the global label, Mr. Cruickshank says it needs to meet certain criteria, including an ability to execute seamlessly across time zones and geographies and a blend of strong global processes that can be tailored to local requirements. It should also be able to understand and interpret local requirements using global themes.
2 Debt and the leadership vacuum (Khaleej Times) Americans’ relative indifference to the eurozone crisis is disturbing. With a huge exposure to European debt, export dependence on Europe and a reliance on corporate profits generated there, the euro crisis menaces both America’s economic recovery. Nevertheless, the US public and news media are focused on the Republican Party horserace, not paying attention to the crisis. Washington’s inability and unwillingness to show more leadership on this issue, despite America’s profound stake in the outcome, speaks volumes about the decline in US self-confidence and global influence in the wake of its own economic and foreign-policy shortcomings in recent years.
Outside of Europe, the United States has the most to lose if the European economy goes belly up. US exposure in Europe totals $3.7 trillion; $1 trillion of that is investment by major American multinational corporations, such as Ford, Dell and Caterpillar. The euro crisis highlights the fundamental dilemma facing the world economy: a leadership vacuum. The United States, once the indispensable power, is distracted, self-absorbed and relatively weakened at a time when Europe, and by extension the rest of the world, still needs the richest country to be actively engaged. There’s no prospect of Washington stepping in to rescue the day. Europeans must rescue themselves. The euro crisis is the test case for managing the world economy without Uncle Sam.
3 Dynasty v/s democracy (Khaleej Times) Businessman Robert Vadra – spouse of ruling UPA chairperson Sonia Gandhi’s daughter Priyanka – recently created a kerfuffle of sorts by quipping that he wouldn’t mind jumping into the electoral fray himself if the “people want him to”. The Vadra episode spotlighted the politics of inheritance in the world’s largest democracy. The Gandhi family is the clear frontrunner in the dynastic sweepstakes. It is probably the world’s oldest democratic dynasty producing the only team of grandfather-daughter-grandson prime ministers that has ruled India for 37 of its 65 years as an independent state.
However, to be fair, nepotism is well-entrenched in the other Indian political parties as well, both at the state and national level. The ubiquity of famous monikers — Karunanidhi, Maran, Sangma, Abdullah, Pawar, Patil, Pilot, Mahajan, Badal, Singh, Scindia, Deora, Reddy, Yadav — is unmistakable especially as five Indian states go to polls this month. Even so, this near-monarchical tradition isn’t exclusive to India. It finds a resonance in other parts of the world as well. The world’s oldest democracy – the United States – has had the Adams’, Kennedys’ and the Bushs’. The more pertinent question is whether the emergence of political families means a weak political system and a dearth of strong institutions?”
4 An app for alms (Khaleej Times) The Awqaf and Religious Affairs Ministry has launched two new applications ‘How to Give alms’ (Zakat) and ‘Omani Calendar’, for iPhones and smartphones supported by IOS and Android systems. ‘How to give alms’ provides information about Zakat, its laws, provisions, obligations and the amount for different categories. The application is connected to the websites of the ministry and Ifta office, and to a website for global gold prices.
5 Five kids starve to death each minute (San Francisco Chronicle) Five children around the world die every minute because of chronic malnutrition, according to a report released Wednesday that also said that almost half a billion children are at risk of permanent damage over the next 15 years. A report from Save the Children said the deaths of 2 million children each year could be prevented if malnutrition were better addressed.
The report called chronic malnutrition a largely hidden crisis that affects 1 in 4 children globally. Global hunger has fallen markedly over the past two decades, but the 2011 Global Hunger Index found that six countries have higher rates of hunger today than two decades ago. Five of those countries are in Africa. The other is North Korea. The 2011 Global Hunger Index said that Congo, Burundi, Comoros, Swaziland and Ivory Coast have higher levels of hunger today than in 1990. Malnutrition numbers in Africa remain startling. The report said that nearly 2 in 5 children in Africa - 60 million children - are stunted. The average yield of staple cereals is a third less than in Asia.
6 Gap-toothed smile in fashion (The New York Times) These days gap-toothed smiles are regarded not just as a mark of fortune or, as they have been since Chaucer’s day, a sign of sexual rapacity, but also as a positively enviable fashion calling card. That impression was reinforced this week at a slew of shows in which randomly spaced front teeth, some as wide apart as goal posts, were the accent of the moment, as covetable as a swanlike neck or a chicly protuberant collarbone. Casting directors have been quick to mine the trend, turning teenage models into runway girls. So have magazine editors and marketers. The gap gained traction a couple of seasons ago when W magazine featured three models in an August fashion spread.
7 Calcutta to be painted blue (BBC) The eastern Indian city of Calcutta will be painted blue, a local minister has said. Government buildings, flyovers, roadside railings, and taxis are going to be painted in light blue colour, a minister in the ruling Trinamul Congress government said. Owners of private buildings will be also be requested to paint them in the same colour, the minister said. The capital of West Bengal, Calcutta is home to over 14 million people.
The colour of the city's famous yellow taxis are going to be changed to light blue and white, while a number of famous landmarks are likely to be repainted too, reports say. "Blue is a beautiful colour and is also soothing for the eyes," city mayor Sobhan Chatterjee said. A local Congress party spokesman said the government was "preoccupying itself with non-essential issues". The city's The Telegraph newspaper said the "notion of a cosmetic change is taken to unprecedented heights of innovation by the idea" of painting Calcutta blue.
8 Fashion turns a passion in Afghanistan (Dawn) A passion for fashion is not the first image that springs to mind when most people think of Afghan men, usually pictured in war reports wearing beards, turbans and carrying AK47s as accessories. But male beauty salons in downtown Kabul now hum with activity as young men update their hair and beards in the latest Western styles – indulgences that would have got them beaten or jailed just 10 years ago.
Since the Taliban fell from power in the 2001 US-led invasion, men in Kabul in particular have seized on a new freedom to be stylish or trendy. “Kabul boys have grown very passionate about their looks in recent years,” says a smiling 25-year-old Ali Reza as he sprays blonde highlights on the hair of The Saloon’s smartly dressed first customer of the day.
“This is embarrassing when you see our men dressing themselves like Americans and other infidels,” says an angry, turbanned, Mullah Naqibullah, drinking tea in a shop across from the The Saloon. “This kind of dressing is totally un-Islamic and against Afghan values. These people should be punished to remember they are Afghans and Muslims,” he says, pausing for a sip of green tea. “The Taliban would know how to deal with them!”
9 India mud wrestlers move to mats (Straits Times) Kushti (mud wrestling) is a traditional sport in India but more and more young athletes are now taking up mat wrestling. Coaches say this is to gain access to the top international competitions like the Commonwealth Games or the upcoming Olympic Games.
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