Other Briefings
Battling the global downturn
Mar. 26 – After all we live in a flat world; and the U.S. sub-prime crisis, the plunging dollar, rising oil prices, bankrupt global financial institutions and inflation will take their toll on India too. India’s preparedness at such a time of crisis will impact the extent to which its India shining image gets tarnished.
In a freewheeling interview Chris Devonshire-Ellis, Senior Partner, Dezan Shira & Associates talks to India’s Finance Minister, Mr. P. Chidambaram. The cool, confident captain who led India to 9 percent growth explains mechanisms the India government has adopted to safeguard itself against such global downturns. The finance minister also tackles issues of India’s falling textile trade, foreign investment in energy and corruption. In separate conversations, Chris Devonshire-Ellis also talks to India’s State Secretary for Civil Aviation and Shri M Ramachandran, State secretary, Ministry of Urban Development.
Ministerial meetings with Indian government
Mar. 20 – The Senior Partner of Dezan Shira & Associates, Chris Devonshire-Ellis, who publishes China Briefing, India Briefing and the emerging Asia website 2point6billion.com, will meet next week with Kamal Nath, the Indian Minister of Commerce, and Mr. P. Chidambaram, the Minister of Finance, in New Delhi.
Sliding down the sensex
Mar. 18: The monsoon is still a few months away. But a different kind of deluge—bad news—dampened spirits on Dalal Street. On Tuesday the Times of India said fears of further losses to Indian banks, a slowdown in corporate growth and the fast-spreading contagion of turmoil in global financial markets took their toll on Monday.
The sensex lost 951 points to close at 14,809. This was its second steepest fall, wiping out Rs 3.2 lakh crore in investor wealth. Since January 10, when the sensex touched its peak of 21,206 points, more than Rs 25.1 lakh crore of investor wealth vanished into thin air.
