Term Of the Day…” STOCK “….

What is ” STOCK ” ?

1.A share of a company held by an individual or group. Corporations raise capital by issuing stocks and entitle the stock owners (shareholders) to partial ownership of the corporation. Stocks are bought and sold on what is called an exchange. There are several types of stocks and the two most typical forms are preferred stock and common stock.
2.British term for (1) A fixed interest government debt security issued usually in denominations, and (2) Inventory.

 

Use stock in a sentence

  • When the company was just forming, Joe bought most of the stock and when the company became large, he sold his stock and became rich.

I am happy that I bought stock in a company when I was younger, because it became very valuable 20 years later.

The board of directors decided to use a secondary stock offering to raise additional capital to pay for expansion in China.

Notable Quotes

  • The Only Time a Company Should Repurchase its Shares
    “There is only one combination of facts that makes it advisable for a company to repurchase its shares: First, the company has available funds — cash plus sensible borrowing capacity — beyond the near-term needs of the business and, second, finds its stock selling in the market below its intrinsic value, conservatively-calculated. To this we add a caveat: Shareholders should have been supplied all the information they need for estimating that value. Otherwise, insiders could take advantage of their uninformed partners and buy out their interests at a fraction of true worth.”

 

  • Owning Options Compared to Owning Stocks
    “Ironically, the rhetoric about options frequently describes them as desirable because they put managers and owners in the same financial boat. In reality, the boats are far different. No owner has ever escaped the burden of capital costs, whereas a holder of a fixed-price option bears no capital costs at all. An owner must weigh upside potential against downside risk; an option holder has no downside. In fact, the business project in which you would wish to have an option frequently is a project in which you would reject ownership. (I’ll be happy to accept a lottery ticket as a gift — but I’ll never buy one.)”
    – Warren Buffett
  • Approaching Stocks After a Huge Crash
    “Nobody who has ever been on a falling elevator and survived ever approaches such a conveyance without a fundamentally reduced degree of confidence. (Stated by Robert Reno after the 1987 stock market crash)”
    – Robert Reno

Source….. http://www.businessdictionary.com

Natarajan

 

This is the change London Heathrow Airport has been waiting for…

Heathrow Skitch

London’s Heathrow Airport is one of the busiest hubs in the world and serves as a major connecting point for traffic between Asia and Africa with North America.

As Britain’s main international airport, Heathrow has been working hard to upgrade its facilities. In recent years, the airport has opened two brand new terminal buildings and have conducted significant renovations to others.

However, the greatest constraint on the airport has been it’s lack of runways. Although more than 72 million passengers pass through Heathrow every year, the facility still operates using just two runways.

However, if Heathrow’s latest expansion plans are approved, things are about to change for airport.

At first, the airport wasn’t much to look at. Its passenger terminals were just tents.

Heathrow Airport

By the 1960s, the airport’s permanent terminal buildings entered service. Heathrow also abandoned its ‘Star of David’ layout, keeping only the northern and southern runways.

Heathrow development came just in time for the arrival of the jet set! Along with celebrities such as The Beatles and …

Today, the airport is the primary international hub serving London and much of England.

Flickr/Tony Hisgett

The airport is home to Virgin Atlantic Airways and …

Heathrow Airport

… British Airways.

… Terminal 5 facilities

But what hasn’t changed in the last half century are its two runways.

But that may be ready for an update if the Airport’s new expansion proposal is approved this December.

The expansion would include a third runway built at the north of the airport; it would increase Heathrow’s capacity from 470,000 flights a year to 740,000.

The airport also wants to build a new terminal to the west of Terminal 5.

The expansion would also dramatically alter Heathrow’s central terminal area.

The transformed central terminal area will feature new hotels, office buildings and …

… green space for passengers.

The new hotel facilities will be located just a few minutes away from the terminals.

The proposed development plan also calls for improvements to road and rail access to the airport.

The expansion of London Heathrow has been a contentious topic. Although there have been discussions about building a completely new airport for decades, the British government recommended improvements to Heathrow as the preferred way to increase airport capacity.

source….BENJAMIN ZHANG  in http://www.businessinsider .com.au

Natarajan

 

 

Airbus has come up with a crazy way of fitting more people into planes…

The aviation industry is always looking for new ways to get more people into their planes and judging by a new patent filing, Airbus is proposing a pretty radical idea.

The manufacturer of the world’s largest commercial jet, the A380, just filed a patent in Europe for a number of wacky looking seating configurations on its aircraft, creating the potential to jam even more people into planes.

In the patent filing, the company says “in modern means of transport, in particular in aircraft, it is very important from an economic point of view to make optimum use of the available space. Passenger cabins are therefore fitted with as many rows of passenger seats as possible, which are positioned with as little space between them as possible.”

Amongst the range of new configurations is a business class cabin with a mezzanine level.

Passengers on the upper level would have to climb steps to reach their seats. Seats in this configuration would recline flat, allowing passengers to enjoy an airborne version of being in a bunkbed.

Airbus1

Airbus

Another design shows two passengers seated on a mezzanine, face to face, something which business travellers looking to get work done might find particularly helpful!

 

The patents may be designed to save space but Airbus was also keen to stress that the new seats will provide a “high level of comfort for the passengers using the seat arrangement.”

It also said that the seat configurations could be used on trains and buses. One bonus that might come from such cramped conditions is that air fares could get cheaper.

But no matter how unpleasant these planes might look, it seems unlikely that the designs will ever come into use.

Airbus is well known for filing hundreds of patents per year in order to protect its intellectual property and ensure that competitors like Boeing cannot get the upper hand.

Recent patents filed by the company include a jet that could travel across the Atlantic in only one hour.

Source….Will Martin….www.businessinsider.com.au

Natarajan

6 Amazing Facts About Baripatha – Odisha’s First 100% Solar Powered Village….

Baripatha has become the first village in Odisha to be entirely solar-powered, with an individual solar unit for every household.

After waiting for electricity for several years, lives of the residents of Baripatha, a tribal village in Odisha, changed for the better on Oct. 2, 2015. On this day, Baripatha became the first village in the state to be completely powered by solar energy.

Here are few things to know about the village and this project:

1. Baripatha is located about 25 km southwest of Bhubaneswar. The village has 61 households, and a population of about 350 people.

odisha2

Picture for representation only. Photo Credit: Premasagar Rose/Flickr

2. The project cost Rs. 7 lakh and was co-funded by the solar products manufacturer, ECCO Electronics, and the power solutions provider, Jackson Group.

“We requested companies such as Nalco, Ecco Solar and Jackson Solar to help us with the solar project for the village…This model can be replicated all over Odisha to provide power to its nearly 3,900 villages,” senior IPS officer Joydeep Nayak, who is the driving force behind this initiative, told The Times of India.

odisha4

Picture for representation only. Photo Credit: Flickr

3. Under this project, individual solar units with two solar home-lighting systems, which also have the facility of charging mobile phones and other devices, have been installed for each of the 61 households in the village.

This is accompanied by a central one-kilowatt unit for the entire village that will be used to power the eight street lamps along with a LED television set and TV set-top box that have been provided to the villagers and have been installed in their community centre.

Picture for representation only. Photo Credit: Flickr

4. The central solar unit has eight panels that can be folded quickly in case of cyclones and high-speed winds that are frequent in Odisha.

The unit can also operate a one-horsepower irrigation pump.

odisha_r1

Picture for representation only. Photo Credit: Flickr

5. What makes the project in Baripatha is that in most rural solar projects, there is a central unit which supplies power to all households.

But that leads to many problems like the exposed cables being tapped by villagers. In this case, some households draw more power than their share, which in turn causes the central line to trip because of overload. Thus, to avoid such issues, individual units have been set up for each household.

Picture for representation only. Photo Credit: Flickr

6. The entire solar project is low cost, low maintenance and community owned.

The only maintenance needed now is the regular cleaning of panels and ensuring that water levels of batteries for the central unit are at the required mark. According to ECCO CEO, Vivek Bihani, the whole village was involved in the planning and execution of the project. “Village mukhia Narayan Hisa along with a local ITI diploma holder, Epil Kumar Singh, are responsible for the maintenance,” he informed.

odisha5

Source: YouTube

The project was inaugurated on Friday by the chairman and managing director of National Aluminium Company Limited (NALCO), Tapan Kumar Chand. He, along with the other state officials, distributed the two lighting systems to each household.

Source…..Tanaya Singh….www.the betterindia.com

Natarajan

How One School Used Solar Power to Go from Being an Electricity Consumer to Electricity Producer …

In the small coastal town of Pondicherry, south of Chennai, there is a school that is not only self-reliant in terms of energy but is also sharing the excess it produces with other buildings in the area.

The Sri Aurobindo International Centre of Education (SAICE) in Pondicherry has been operating on green energy since September 2014.

Many schools encourage their students to switch off the fans and lights after use, plant trees and take other initiatives to save energy. However, very few go beyond just asking them to take precautions and save energy. SAICE is different.

This educational institute is self-reliant in terms of energy; it meets all its energy requirements through solar power. Moreover, it produces three times the electricity it consumes and lights up many other buildings with the excess energy.

aurobindo1

Sri Aurobindo Ashram

And it has done so by devising and implementing a project almost entirely on its own.

SAICE is a part of the Sri Aurobindo Ashram in Pondicherry. It was in 2012 that Dr. Brahmanand Mohanty, an alumnus of SAICE, came up with the idea of making the ashram energy efficient with the help of a sustainable model.

“As the Indian economy continues to grow, so will its energy consumption. The country’s primary energy consumption more than doubled between 1990 and 2011. As the demand continues to grow, keeping pace with the GDP growth, the energy sector is struggling to deliver a secure supply of energy,” says Dr. Mohanty, explaining why he thought this move was important. Hailing from Odisha, Dr. Mohanty is currently working as the Visiting Professor at the Asian Institute of Technology, Bangkok, and has been engaged in the area of energy and environment managements since the last three decades.

According to Dr. Mohanty, many rural areas of the country do not have access to electricity. And urban India uses energy-intensive appliances, resulting in electricity shortage.

The entrance of the Sri Aurobindo International Centre of Education

The entrance of the Sri Aurobindo International Centre of Education –

Dr. Mohanty had a vision of developing a system that would make SAICE self-dependent for energy. With this in mind, he had a meeting with the trustees of the Ashram. They gave him the go ahead and even suggested that pilot research activities should be taken up with the active participation of the young teachers and students at the Institute. And then it all began. The whole project was conducted in two phases from 2012 to 2015.

Phase One: The Pilot

The pilot research took place between 2012 and 2014. The idea was to demonstrate that it is possible for an electricity consumer to achieve net-energy positive status (to generate more energy than consumed) by adopting measures to lower the energy demand through energy efficiency and conservation, and producing electricity using solar energy. To begin with, the energy requirements of SAICE were measured, in order to understand the pattern of electricity consumption over a long period of time.

Following this analysis, all inefficient lamps, fans, air conditioners, and computers, which had been in use since a long period of time, were substituted by more energy-efficient alternatives to lower the energy demand by more than 25 percent, without compromising on the quality and service.

Replacement of energy-inefficient appliances by more efficient alternatives

Replacement of energy-inefficient appliances by more efficient alternatives

With a better understanding of how much energy the educational institute was consuming, they came to the decision that a solar power plant should be installed inside the campus so as to meet all the energy demands in-house. Thus, a 17 kWp rooftop solar power plant was set up in the school by an Auroville-based solar installer.

Teachers and students were involved in the entire process right from the start. They helped in the basic wiring, setting up the panels on the rooftop, and more.

aurobindo3

Students of SAICE actively involved in the installation of the rooftop solar power plant. –

“This allowed them to get a better grasp of the working principles of a grid-tie solar power generation system and they also got practical exposure to the various aspects of the solar system to be taken into consideration in order to ensure its proper functioning over a long time frame,” says Dr. Mohanty.

With this solar plant, SAICE evolved from being an electricity consumer to an electricity producer. This research initiative was supported and recognized by the Government of Pondicherry, as well as the Power Grid Corporation of India (PGCI), as part of the pioneering Smart Grid Pilot project being implemented for the first time in India. Smart Grid facilitates a two-way electricity delivery system, that is, integration of renewable energy sources followed by smart transmission and distribution from the renewable source to the nearby consumers.

Thus, after the solar plant was set up, 700 kWh of excess energy was exported back into the power grid during the first month.

A wide-angle photo of the solar panels installed on SAICE rooftop

A wide-angle photo of the solar panels installed on SAICE rooftop –

Phase Two: Giving More than they Take

This phase started after the announcement of the Solar Energy Regulations by the Joint Electricity Regulatory Commission (JERC) for Goa and Union Territories in December 2014. One of the features of this regulation is group net metering. What is that?

“If someone owns more than one property connected to the power grid, it is possible for him/her to install bigger capacity solar plants in one or more buildings and use the excess electricity that is generated to adjust the electricity consumed in other buildings on rooftops where there is no solar installation. For example, the excess 700 kWh that was produced by the rooftop solar system in the school last September could be used by the Ashram to reduce or avoid the payment of electricity in another Ashram building,” explains Dr. Mohanty.

As the Ashram is the owner of many buildings, for its various departments, the school was able to utilise this feature.

Thus, in the second phase, which took shape in March 2015, the rooftop solar power plant was expanded to achieve a cumulative solar power generation capacity of 50 kWp. The plant has now been extended to four buildings inside the ashram complex and it generates an average of 6,500 kWh electricity per month, which is more than three times the present electricity consumption of the school.

The excess then is used for the electricity needs of other buildings of the ashram.

Results of the data from the bi-directional smart electric meter showing how SAICE had become a net electricity exporter after the installation of the 17 kWp solar power plant.

Results of the data from the bi-directional smart electric meter showing how SAICE had become a net electricity exporter after the installation of the 17 kWp solar power plant.

“The main operation of the school is during the daytime and there are limited activities beyond sunshine hours. The electricity produced by the solar plant not only takes care of all the needs of SAICE during the day but also exports 161 kWh of electricity to the power grid. On the other hand, only about 32 kWh of electricity is drawn from the power grid after sunset…This demonstrates how school buildings that are mainly operational during daytime can adopt rooftop solar systems to not only meet their own electricity needs but also assist in bridging the shortfall in the grid supply,” says Dr. Mohanty.

The organization that helped with the development of the power plants also developed a remote monitoring system called Wattmon, which tracks the performance of the four solar power plants, online. It also monitors the voltage, current, power output, solar inverter efficiency, and total electricity produced at any time of the day.

The Ashram already produces its own rice, lentils, vegetable, milk and cooking oil that are needed in the community dining room on a daily basis. This is an added step towards sustainability.

A side-view of the solar panels installed on SAICE rooftop

Noticing the benefits of this system, people at the Ashram and in the nearby places are trying to take suitable steps to gradually reduce their dependence on fossil-fuel fired power plants. More and more students are also keen to learn about how solar energy can be harnessed to serve humanity and they now dream of having a more sunny future.

The entire project cost about Rs. 1 crore and was completely funded by the Ashram itself.

A bird’s-eye-view photo of the solar panels installed on SAICE rooftop with the Indian Ocean in the backdrop

A bird’s-eye-view photo of the solar panels installed on SAICE rooftop with the Indian Ocean in the backdrop

But this, according to Dr. Mohanty, is a profitable deal. Because the cost-benefit analysis of the solar power project shows that the capital investment on the project can be recovered roughly in 10 years from the savings in electricity bills.

“The main message of this research initiative is that those who have access to energy and can well afford it…can also contribute to making the scarce energy resources available for all those who do not have access,” he concludes.

You can contact Dr. Mohanty by writing to him at mohantyb@gmail.com.

Source….Tanaya Singh……www.thebetterindia.com

Natarajan

9 hard truths about money ….your successful friends won’t tell you….

We all have those friends who seemingly cruise through life, never stressing about money or success, and somehow always have plenty of both.

They have retirement plans, businesses and time to climb mountains or run marathons. Basically, they’re really annoying.

For others, failing to save, going deeper into debt and generally stressing about life is the norm. if you’re wondering what those successful friends of yours are thinking — but not saying — about your money habits, keep reading.

1. You need to budget.

You know the guy who you’re always hitting up for money until you get your paycheck? Well, he’s thinking that you would benefit by creating and sticking to a budget. Fortunately, making a budget is as easy as clicking a mouse.

“Find an app or system that works well for you such as Mint, You Need A Budget or just an Excel spreadsheet,” said Kate Holmes, a certified financial planner (CFP) and founder of Belmore Financial. “Import the last few months of all checking, debit and credit card transactions and see where things are at. You’ll likely be surprised by some of the category totals.”

“Ask yourself how much happiness each item brings. You may find some unnecessary spending you can easily cut out,” she said.

Here’s a strategy she recommended: 50% of your take-home pay goes for food, housing and other necessities; 30% for discretionary spending; and 20% toward paying off debt and building savings. Of course, any money-savvy friend will also tell you that making a budget is easy. Staying with it can be challenging.

2. You don’t save enough.

We all want to retire someday, right? Well, the bad news is most of us won’t be retiring in style if we only rely on Social Security benefits to live. The average Social Security recipient in 2014 got only $1,300 a month. Those golden years are starting to look tarnished already.

So what can you do? Save in your workplace retirement plan and take advantage of your employer’s matching program, said consumer finance expert Kevin Gallegos, vice president of Phoenix operations for Freedom Financial Network. He recommended saving 10 percent to 15 percent of your gross pay for retirement. If you can’t swing that, start with what’s manageable for you.

3. You have too much credit card debt.

The financially savvy see credit cards as a convenience, not a bank account from which to draw. The average credit card interest rate stands at 13%, meaning that everything you buy, from dinner out to a flat screen TV, will cost you 13% more if you don’t pay it off immediately.

That’s why a good friend would tell you to avoid using credit cards except in emergencies. “Few, if any, investments will return as much,” said Gallegos. “Having no credit card debt provides a financial cushion itself.”

So the next time you whip out that Visa to fund your latest impulse buy, add in the interest costs and reassess whether it’s really worth it.

4. You never consider the opportunity cost.

Here’s something that most people know but only the financially savvy apply: Every purchase has two costs. One is the price you pay for a product or service. The second is what you’re giving up when you make that purchase, or in other words, its opportunity cost. You bought the shoes but now you can’t afford the dress or that contribution to your IRA this month.

Billionaire investor Warren Buffett often quotes his friend and partner, self-made billionaire Charles Munger, when speaking about opportunity cost. They see their biggest business mistakes as missed opportunities that kept them from making more money. They call them “mistakes of omission.” They didn’t invest in something when they should have, or they weren’t able to because their money was tied up in another investment.

So what will those shoes cost you in the long run?

5. You give up too easily.

If you weren’t born rich, then you will have to work hard for your earnings and adopt a steadfast attitude that could translate into wealth. “Look at every successful person across a wide spectrum of industries and activities,”  said John Mulry, a GKIC certified business advisor. “All had their obstacles, demons and downfalls, but their desire to succeed and ability to overcome was greater than anything else. They were willing to stop at nothing to achieve.”

Most friends don’t want to tell you that you’re a quitter. So you might have to make the hard call, which is something only winners do. Call it the quitter’s paradox.

6. You eat out too often.

Who doesn’t love to stop at Starbucks for morning coffee, then go out to lunch with colleagues, and later grab a get-me-through-this-day Frappuccino? But do you know what you’re brown-bagging friend at the next desk is thinking? “That’s a waste of $25.” One medium Starbucks a day, five days a week, will set you back about $1,100  per year.

Take note: It costs as little as 27 cents to brew a cup of coffee yourself. If you add milk and sugar, the cost climbs to 75 cents. You still just saved more than $900 a year. How does that Starbucks taste now?

7. You don’t have a clear financial goal.

So you have a friend who runs marathons, climbs mountains and made a million before he turned 30. The first thing he’d tell you is that you need a clear goal to accomplish anything and to manage your money.

“It’s very hard to get where you’re going without knowing where you want to go,” said Gallegos. “Similarly, it’s very hard to save without setting goals. Those goals might include retirement, a vacation, a new piece of furniture, a child’s education or time to train for a marathon.”

Whatever the goal, write it down. Then budget for it. If you get stuck, call your buddy who climbed Mount Everest for advice.

8. You need an emergency fund.

Life has a bad habit of throwing curve balls in the form of emergency car repairs, unexpected medical bills, surprise household repairs and so on. Your friends might be thinking, “Does this bozo not expect anything bad to ever happen?”

Whether it’s a job layoff or worse, you want to ensure you can cover all necessary expenses for three to six months, said Holmes.

9. You spend too much on trends.

You know your friend with the iPhone 4, the Old Navy jeans and the stupid TV? She’s wagging her well-funded finger at your trending Apple Watch, $300 jeans and genius TV.

The trick is to cut down on the impulse buys and in general trust your gut. You know when you’re being indulgent. If not, invite that friend with the ancient iPhone when you go shopping.

Another great trick to curb spending, said Gallegos, is to pay with cash. Two things will immediately happen. It will be much more inconvenient and you will get a very real feel for how much you are truly spending. Gallegos cited research that found that people who pay with cash instead of credit or debit cards typically spend 15 to 20% less. That’s retirement savings money, baby.

Keep Reading: Why Dave Ramsey’s Cash-Only Policy Is Genius for Saving Money

Read the original article on GOBankingRates.Copyright 2015.

Source….www.businessinsider.com

Natarajan

Top executives of tech giants pledge support for Digital India initiative…

Google, Microsoft, Cisco, Qualcomm and Adobe executives express desire to deepen their participation in the Digital India initiative

PM Narendra Modi claps (2nd from right) with Microsoft CEO Satya Nadella (centre), Cisco executive chairman John T. Chambers (2nd from left), Qualcomm executive chairman Paul E. Jacobs (right) as Google CEO Sundar Pichai (left) walks to his seat after his speech in San Jose on Saturday. Photo: PTI

PM Narendra Modi claps (2nd from right) with Microsoft CEO Satya Nadella (centre), Cisco executive chairman John T. Chambers (2nd from left), Qualcomm executive chairman Paul E. Jacobs (right) as Google CEO Sundar Pichai (left) walks to his seat after his speech in San Jose on Saturday. Photo: PTI

Top executives of global information technology giants Google Inc., Microsoft Corp., Qualcomm Inc., Adobe Systems Inc. and Cisco Systems Inc. on Saturday said they are keen to join hands with India and deepen their participation in the Digital India initiative that aims to ensure that government services are available to citizens over the Internet.

The chief executives of the top technology firms were speaking at a Digital India forum in San Jose, California during Prime Minister Narendra Modi’s visit to the US.

“India has more than 300 million Internet users and smartphone users. People are educating themselves and their loved ones how to use technology,” said Sundar Pichai, chief executive, Google. “India is coming online at an unprecedented pace.”

“I can feel the change in the air,” he said. “I am excited about technology, and India will play a big part in its future.”

He also said India has become the fastest growing start-up nation.

Paul Jacobs, executive chairman of Qualcomm, told the forum that his semiconductor company is keen to promote the Digital India vision. “To promote ICT (information communication technology) in India, we will be setting up a $150 million fund to fuel innovation and foster promising Indian start-ups who are contributing to the mobile and ‘Internet of Everything’ ecosystem.”

“In line with the Make in India initiative,” he added, “the company will set up design centres in India to design products from India for the world.”

Microsoft chief executive officer Satya Nadella said the company is looking to bring low-cost Internet in India. “We want to help people make things and make things happen. It is time to collectively combine efforts to empower the people,” he said.

The company worked with researchers to bring low-cost Internet infrastructure to rural Andhra Pradesh using television’s white spaces, he said. “We are now looking to replicate the same pilot project in Varanasi.”

“We are in talks with state governments to expand it in 5,000 villages,” he added.

Modi, in his address, thanked the companies for their initiatives.

“We will see the perfect picture of US-India partnership emerge in the digital economy,” he said adding it is a new era of empowerment where global firms are creating infrastructure and services to support the government with the Digital India initiative.

“Technology is empowering people,” Modi said. “We are attacking poverty with network and smartphones.”

“In the digital age, we have the opportunity to transform the lives of people. About 170 e-governance applications are there to make government services available in better and faster way,” he added.

Stressing on the role of social media in empowering citizens, Modi said, “Facebook, Twitter, Instagram have become the new neighbourhoods. Social media has turned everybody into a reporter.”

Briefing reporters later, foreign ministry spokesman Vikas Swarup said Modi had invited Apple to set up a manufacturing base in India.

The Prime Minister (in his meeting with Cook) said he would like Apple to start manufacturing in India. He mentioned the huge opportunities India offered,” Swarup told reporters. Taiwan-based Foxconn Technology Group, which is the largest manufacturer of Apple products, has already decided to set up a manufacturing base in India, Swarup said. “Cook responded positively. I think India does fits into his long term plans. He particularly was interested in the whole app development economy, which he said could be a very, very important factor for entrepreneurship where individual app developers can just become part of the app universe,” Swarup said.

There was also some discussion on how Apple Pay could be a part of India’s financial inclusion Jan Dhan Yojana and other such initiatives, he added.

Indian ambassador to the US, Arun Singh, told reporters that during the Modi-Cook meeting “there was a sense that a lot of design innovation is happening in India.”

“As Apple expands its presence in India, including a manufacturing presence there could be enhanced opportunity for app development related to the apple platforms,” he said.

During the meeting, Cook is said to have recalled how Apple co-founder and former CEO Steve Jobs came to India as a young man seeking inspiration.

Source…. Moulishree Srivastava  &Elizabeth Roche ….www.livemint.com

Natarajan

Modi gets his message across in Silicon Valley…”Make in India” and “Digital India “

Prime Minister Narendra Modi with Cisco’s John T. Chambers, Microsoft’s Satya Nadella, Qualcomm’s Paul E. Jacobs and Google’s CEO Sundar Pichai during the Digital India dinner function in San Jose. Photo: PTI

Prime Minister Narendra Modi with Cisco’s John T. Chambers, Microsoft’s Satya Nadella, Qualcomm’s Paul E. Jacobs and Google’s CEO Sundar Pichai during the Digital India dinner function in San Jose. Photo: PTI

Midway through his second visit to the US, Prime Minister Narendra Modi has already addressed three of the four major constituencies he planned to reach out to—at the bilateral, multilateral and Indian diaspora levels.

The fourth—the US leadership—is next in line, say analysts.

At the multilateral level, Modi addressed the United Nations (UN) General Assembly where he spelt out the need for “climate justice” and chaired a meeting of Brazil, Germany, India and Japan—four nations that have demanded a place for themselves as permanent members of a revamped UN Security Council.

Before leaving the US, Modi is also set to address a conference on UN peacekeeping—a global duty that is substantially underpinned by Indian contributions.

On the bilateral economic front, Modi has held meetings with key US business leaders, seeking and enlisting their support for his “Make in India” and “Digital India” campaigns.

That a number of chief executive officers (CEOs) in Silicon Valley are Americans of Indian origin helped Modi link up with the diaspora—the third key constituency that he has reached out to on all his trips abroad. Modi was set to address an audience of 20,000 people of Indian origin in California on Sunday.

The fourth constituency is the US establishment, and Modi will be meeting US President Barack Obama overnight Monday before heading home.

Former foreign secretary Lalit Mansingh noted that Modi’s six-day US trip had a multilateral component focused on key foreign policy issues such as the revamp of the UN Security Council, while the bilateral agenda with the US was tied to domestic economic issues.

“On the whole, the tenor of the visit has been positive,” Mansingh, also a former Indian ambassador to the US, said on Sunday.

 

Economy—the key focus area

Arriving in New York late on Wednesday after a brief halt in Ireland, Modi’s first engagements on Thursday were back-to-back meetings with the US business community aimed at burnishing the image of Asia’s third largest economy as an investor-friendly destination. Last week, the Asian Development Bank cut India’s growth projection to 7.4% for 2015-16 from 7.8% predicted earlier. And there has been criticism, albeit muted, that the Modi government, elected to office last May on a pro-jobs and pro-development platform, has been slow in putting in place measures that would spur the economy.

Among those who met the prime minister were Rupert Murdoch, chairman of News Corp.; Ajay Banga, president and CEO of MasterCard who also chairs the US-India Business Council; Marilyn A. Hewson, chairman, president and CEO of Lockheed Martin Corp.; Citigroup chairman Michael O’Neill; Boeing International president Marc Allen, and Goldman Sachs president Gary Cohn. These meetings came on a day the Indian government formally announced that foreign companies without a permanent establishment in India will be exempt from the minimum alternative tax, levied on profit-making entities that do not pay corporate income tax because of exemptions and incentives.

“The idea (behind the intensive engagement with the business community) is that while we have expanded in a significant way our political security and defence cooperation, we need to make enhanced effort in terms of expanding the economic engagement between the two countries,” India’s ambassador to the US, Arun Singh, told reporters last week.

“When President Obama had visited in January, the two leaders had declared a goal of taking our trade relationship to a level of $500 billion from the present level of $120 billion. So, it would be important to see what kind of new opportunities we can create in the economic sector and that is why an important part of Prime Minister’s engagement during his visit to the United States is certainly focusing on the economic sector,” Singh said.

If the emphasis of Thursday’s meetings was on investments and manufacturing, it was Digital India at the weekend, when Modi travelled to California. Digital India is the Prime Minister’s flagship programme seeking to promote the use of technology to deliver governance and services. Those who met Modi included John Chambers, executive chairman of Cisco Systems; Paul Jacobs, executive chairman of Qualcomm who announced a $150 million investment in Indian start-ups; Satya Nadella, CEO of Microsoft; Sundar Pichai, CEO of Google; Shantanu Narayen, president and CEO of Adobe; and Venk Shukla, president and trustee of Silicon Valley at The Indus Entrepreneurs, a group representing tech entrepreneurs.

“Today, more than 15% start-ups in Silicon Valley are attributed to Indian-origin tech entrepreneurs. Therefore, this is an additional dimension to the potential for cooperation between India and the United States,” ambassador Singh told reporters, underlining the potential role of the diaspora in the digital India initiative.

Ahead of the meeting with the leading lights of the Silicon Valley, Modi received Tim Cook, CEO of technology giant Apple, and invited the company to start manufacturing in India under the Make in India initiative that aims to boost India as a global manufacturing hub. Modi also visited Tesla Motors Inc., which designs and manufactures premium electric vehicles on Saturday, a visit that underlined the India’s growing emphasis on renewable energy, including plans to generate 100,000 megawatts solar power by 2022.

“The Prime Minister heard them and their concerns. How he deals with the problems once he is back home is to be seen,” Mansingh said.

At the UN

At the multilateral level, Modi has had two major engagements. On Friday he addressed the UN General Assembly on the occasion of the world community adopting the Sustainable Development Goals that aim to reduce global poverty. The second was early Saturday when he chaired a meeting of the Group of Four (G4) countries—Brazil, Germany, India and Japan—that seek to become permanent members of the UN Security Council.

In his address to the UN General Assembly, Modi spoke of how many of the initiatives launched by the Indian government—financial inclusion, education and skill development and pension schemes for the vulnerable—mirrored the Sustainable Development Goals. With an eye on the Paris climate change conference scheduled later this year in Paris, Modi urged developed nations to transfer technology, innovation and finances to developing countries in order to tackle the challenge of climate change.

Highlighting India’s plans to produce 175 gigawatts of electricity by 2022 through renewable energy sources, energy efficiency measures, improving public transportation, cleaning up cities and rivers, and the waste-to-wealth project, Modi said: “The objective of our collective efforts is common but differentiated responsibilities.” The principle institutionalizes the idea that rich nations must bear historical responsibility for global warming and therefore must take the global lead in efforts to reduce carbon emissions that cause climate change.

“Climate justice” was appropriate to taking the concerns of the poor in sustainable development, Modi said.

Modi also used the UN platform to stress the need to reform the Security Council, seven decades after the body was constituted at the end of the Second World War. “We must reform the UN and the Security Council. This is essential so that the institutions have greater credibility and legitimacy. With a broad-based representation, we will be more effective in achieving our goals,” Modi said.

To drive the message home, Modi invited Brazilian President Dilma Rouseff, German Chancellor Angela Merkel and Japanese Prime Minister Shinzo Abe to a summit level conference of the G4 countries pushing for the reform of the UN Security Council. The four countries support each other’s candidature for permanent membership of a reformed UN Security Council and, in a joint statement, sought such reform “within a fixed time frame”.

This is the first summit of the four countries in a decade and comes against the backdrop of the previous 69th UN General Assembly deciding earlier this month to begin negotiations based on a broadly agreed text on reforming the Security Council. “With this summit, I think the prime minister has underlined this as a key foreign policy objective,” Mansingh said.

Modi’s last few engagements on Monday include a meeting with President Obama in New York and a separate meeting of countries that send troops for UN peacekeeping missions.

Elizabeth Roche….www. livemint.com

Natarajan

From Kolli Hills to Italy, two women win hearts with ‘Murukku’….

‘I had to stop going to school after 7th standard as my parents did not have enough money to even feed us’

‘I was just an uneducated and poor farmer till I joined the self-help group. Going to a foreign country to highlight our achievements was a dream come true’

‘My dream is to see all women like me who live in villages to come up in life and be independent’

Malliga and Jayalalitha talk to Shobha Warrier/Rediff.com about how millet farming changed their lives, their successful trip to Milan and how their ‘murukku’ was appreciated at Milan.

Image: Malliga Seerangan and Jayalalitha Easwaran in Chennai. Photograph: Ramesh Damodaran

The journey from a remote village in Kolli Hills in Namakkal district of Tamil Nadu to flashy Milan has been an unforgettable experience for Malliga Seerangan and Jayalalitha Easwaran.

Their background is similar – poverty, no education and cut off from development.  But today the success story of the two women, 35-year-old Malliga Seerangan and 27-year-old Jayalalitha Easwaran, is an inspiring lesson in women empowerment.

These two women are part of a self-help group supported by by the MS Swaminathan Research Foundation, that promotes biodiversity through farming.  They were in Milan to attend an event on ‘Agricultural biodiversity, value chains and women’s empowerment’ organised by Bio Diversity International, on September 17.

The event was organised to celebrate the women ‘who grow, harvest, process, cook, buy or sell a variety of food and agricultural products to sustain their families and contribute towards conservation of agricultural biodiversity’.

“Women and agricultural biodiversity are closely linked,” say the organisers. So both Malliga and Jayalalitha were the right people to represent what the event stood for; Agricultural biodiversity, value chains and women’s empowerment.

Image: Malliga (second from left) and Jayalalitha in Milan. Photograph, courtesy: MSSRF

It was their first trip abroad and accompanying them was Dr Oliver King of the MS Swaminathan Research Foundation. MSSRF is playing a key role in transforming the lives of many women by promoting different types of millet cultivation — little millet, Italian millet, finger millet, common millet, and Kodo millet under different agro-climatological and landscape conditions.

The organisation has helped them follow locally suited traditional agricultural practices like inter-cropping, multiple cropping, mixed cropping and crop rotation based on soil types and rainfall pattern focussing on the food and nutritional security of the people. For example, mixed cropping is practised to maintain the family’s food security.

The nutritious products made from millet are sold through Kolli Hills Agro Biodiversity Conservers Federation (KHABCoFED) in attractive packs as organic food in nearby cities. MSSRF follows the four ‘C’s: conservation, cultivation, consumption and commercialisation.

Image: Millet farming transforms the lives of farmers. Photograph, courtesy: MSSRF

How millet farming transformed Malliga Seerangan’s life

‘My family has been involved in farming for many generations and I grew up seeing my grandparents going to the fields. From the time I could remember, I was also helping them and my parents in the fields.

‘I had to stop going to school after 7th standard as there was not enough money to even feed us. We had a small farmland. Since there was no market for millets, naturally there was not much income from farming. I continued doing the same work after getting married.

‘People in and around Kolli Hills do only farming and that too, only ragi and samai. There was a time when we farmed just enough for us to consume, and nothing more than that.

Today, we are farming six varieties of millets, thanks to MS Swaminathan Research Foundation which came to our village around 15-20 years ago. Other than helping the farmers in cultivating, they also helped us start small self help groups groups of men and women.

‘There are more than 1500 farmers in our small region itself and each group consists of 13 women. I am the head of our group.

‘We pool in small amounts of money and put it in the bank, and then each member can take a loan for farming. Earlier, we didn’t even have a bank account, nor did we know how operate an account.

‘They also taught us how to do farming depending on the weather. We had no knowledge of good farming practices. Now, we are producing several folds of different varieties of millets.

Image: The murukkus turned out to be a big hit at Milan. Photograph, courtesy: MSSRF

‘Earlier, we had to grind millets physically which involved hard labour but today MSSRF have installed mills so that in less than half an hour, the powder is ready.

‘They also taught us how different products can be made of these millets to make it popular among people. We were used to eating them as it is but today, we make and sell products like millet rice, ragi murukku in attractive packs.

‘Now, we know that these millets have high iron content and are excellent for good health. You won’t believe, not a single person is diabetic in our village, and it is only because we have been consuming millets for generations.

Today, even city-dwellers have understood the health benefits of millets. They make tasty upma so children also enjoy eating it. Our ragi malt powder, murukku powder, samai, etc are available in Tamil Nadu, Andhra Pradesh and Karnataka under the Kolli Hills brand.

‘Life has changed for us after all this! We had no voice in those days; we never went to the market alone.  Today, we go to the market with our products.

We have our own bank accounts and we need not beg for money from our husbands. If you take the case of our group itself, all of us make a profit of Rs 2500-3000 every month and each one of us deposits Rs 100 in our group.

‘Now, after taking care of the household needs, I can buy saris and jewellery with my own money. I am able to educate my children better.

‘My dream is give as much education to my children as possible. I could not study much but I do not want my children to have the same fate. I want them to do better in life.

‘Till the groups were formed, there was no respect for women; now the men in our village know that we are as capable or better than them.

‘We are financially independent as well. We operate bank accounts, deposit and withdraw money. We take loans and also repay them. We know to do all these things without anybody’s help now.

‘We also have the knowledge about millets and can talk to people about its nutritive values.

‘From being confined to the four walls of the house, if women in our village have progressed today, it is all because of MSSRF urging us to form groups, helping us diversify and selling our products in the markets.

If you take my case, till they came, I had not even stepped out of the village. Now, I got the opportunity to travel to Delhi, Chennai, Mumbai and for the first time abroad too.

‘When I got into the flight the first time when I went to Delhi, I just couldn’t believe it.

‘This time, when we were going to Milan, I thought it was a dream. I am just a small, uneducated farmer who was born in a very poor home, and here I was going to a foreign country to show them what we do.

‘We were asked to make ‘murukku’ for the delegates there. All of them enjoyed eating our ‘murukku’. We made around 50 murukkus and they got over in no time, and we felt really happy and excited about it.

‘They took photographs and videos of us making ‘murukku’. They had so many questions for us and as we don’t understand English, Sir (Oliver King) played the role of an interpreter. I have no words to express my happiness. It was an overwhelming experience.

‘Then, we went around sightseeing. I am so impressed with the cleanliness of the city. I did not spot any garbage on the road and I didn’t see anyone throwing anything on the road.
‘They have built good footpaths for people and I also liked the pedestrian crossings. Here, we have to run to cross the road but there the vehicles stopped for us.

‘After seeing Milan, I wondered why we can’t keep our cities clean. I really liked their city better than ours.’

Image: When they appreciated the ‘murukkus’ we made, I felt extremely happy, says Malliga. Photograph, courtesy: MSSRF

A life changing experience for Jayalalitha Easwaran

‘In our village, everybody has been farming since generations. Though I helped my parents as a child in the farm, I got involved in farming actively 10 years ago.

‘Malliga Akka who was my neighbour told me to join the self help group started by MSSRF, and from then on my life changed completely. She told young women like me that if we join the group and start working we would become independent and capable.

‘I was just a school drop-out who had no confidence to even to talk to strangers but today, I can confidently talk about the importance of eating millets and its health benefits.

‘I go to the bank all alone, I have learnt to open an account and operate it. I also take loan from the bank, repay it on time and manage my finances well.

‘Till I joined the group, I was an illiterate young girl confined to my home. I had to depend on my husband for money.

‘Today, I manage my household expenses with the money I earn from my work. My husband is also proud of me!

‘Earlier, we had to physically plough the field, now with the machines given by MSSRF, we do not have to labour so hard.

Similarly, they have installed grinding machines to powder millets. All these have helped in our work tremendously. We concentrate mainly on ragi malt and ragi murukku and sell them in attractive packets in 15 markets.

‘It’s only because of MSSRF that I travelled to Mumbai in a flight for the first time in my life. Till then, I had not stepped out of our village.

‘Now, I have gone to a foreign land also. I cannot explain how excited I was about the trip.

‘I could not believe that a school drop-out like me could go abroad to showcase what we make. I had never dreamt that I would have such good fortune.

‘When they appreciated the ‘murukkus’ we made, I felt extremely happy.

‘My dream is to see all women like me who live in villages to come up in life and be independent.’

Source…….Shobha Warrier /www. Rediff.com

Natarajan