Monday, December 31, 2012
Delhi gangrape victim Damini cremated
India Today:Neetu Chandra New Delhi, December 31, 2012 | UPDATED 13:23 IST
The victim's residence in Mahavir Enclave near Dwarka. Left: The doll she used to sleep with.
Jyoti - we are naming the 23-year-old gang rape victim 'Jyoti' because she was the flame that was snuffed out - became silent after Wednesday and never opened her eyes or talked to her family, not even in gestures.
Her father, a daily-wage loader at the IGI airport, struggles to make ends meet. He has worked double shifts, sacrificing sleep at the age of 55 to earn some extra bucks to submit his daughter's fees studying in a different state.
Different
4 am: An ambulance leaves the Palam technical airport with the girl's body on Sunday.
She worked in a call centre in Dehradun after her college hours earn. She gave her fees for two consecutive years in her college earning from the call centre. She bought us many gifts and things for the household," said her father.
6.05 am: Another ambulance leaves for the cremation ground with the victim's body.
A reason for delight as a daughter and a best friend for her brothers, the victim's death has brought the family a standstill.
Battles are won by attitude, not by emotions," she had messaged her brother who had turned to her for advice a few days before the incident.
"I haven't slept since the incident happened.
I'm missing her voice. She was my best friend.
Whenever I had a problem, I talked to her over the phone for hours. She used to give me the best advice," said her younger brother as he showed the doll which was his sister's favourite.
Born on May 10, 1990, the victim harboured a strong personality.
"She was very strong. She always said one should never bear atrocities but fight against it. While she was admitted in hospital, she told me that she fought back as hard as she could. She was defending herself by beating and biting them.
Hopeful
Her family , however, refused to speak about her relation with the boy who was accompanying her on the fateful day.
"The boy was equally courageous like my sister. She told me that he guarded her until he became unconscious.
6.55 am: Mourners and RAF prsonnel outside the cremation ground.
The family was pinning high hopes on the doctors that they would save her and never imagined she would die. They think the decision of flying her to Singapore came late. "She could have been saved perhaps, but the decision came late. Mount Elizabeth Hospital had very high standards of hygiene. They could have prevented the infection. Doctors there were very cooperative. I thought she would sail through it but luck was not on her side," he said.
How a Night Out in Delhi Turned Tragic.
WSJ :By AMOL SHARMA, KRISHNA POKHAREL and VIBHUTI AGARWAL
A Woman Determined to Improve Her Position in Life Became a Victim of a Brutal Attack; Alleged Culprits on 'Joy Ride'
NEW DELHI—On the evening of Dec. 16, a young female physiotherapy student went to a movie with a male friend. After, they waited at a bus stop on a busy road in a south Delhi neighborhood called Munirka.
They were, in many ways, the face of a youthful, up-and-coming India. She was 23 years old, from a lower-caste rural family, according to news reports. She was a role model in her neighborhood, reports said, engrossed in her studies in the northern city of Dehradun, paying tuition with money raised when her parents sold their land.
"She wanted to ensure that she studied well, stood on her own feet and made it big in life so she could ensure a better future for her family," a friend told the Sunday Express.
Her companion on Dec. 16 was a 28-year-old software engineer at a local technology company. The two victims' names haven't been disclosed by authorities.
The same evening, not far away, a much different side of youthful India was on display. Two brothers—Ram and Mukesh Singh—cooked some chicken at their home in a slum called Ravi Dass Camp, a maze of narrow lanes and open drains. Neighbors describe the brothers as rowdy, heavy drinkers.
Final Days
The attack and death of the woman whose suffering has prompted calls for change in India:
Dec. 16 A young woman and a male friend board a bus home in south Delhi. He is beaten up, she is gang raped. Both are taken to the hospital.
Dec. 17 The regular driver of the bus is arrested as a suspect; five more suspects are arrested in the following days.
Dec. 17-20 The woman is put on life support and undergoes two abdominal surgeries.
Dec. 21 Doctors say the woman is recovering enough to come off life support.
Dec. 22-23 Protests in New Delhi demanding better public security are broken up by police with tear gas and water cannon.
Dec. 23 The woman complains of breathing problems and is put back on life support. She has a third abdominal surgery.
Dec. 26 She suffers cardiac arrest; flown to Singapore's Mount Elizabeth hospital.
Dec. 28 Hospital says the woman's health, already 'extremely critical,' has worsened.
Dec. 29 The woman is reported dead of 'severe organ failure following serious injuries to her body and brain.'
Dec. 29 Police add murder to the other charges facing the six men who allegedly attacked the woman. Peaceful demonstrations are held around India.
Dec. 30 The victim's body is returned to New Delhi, received by Prime Minister Manmohan Singh and Sonia Gandhi, president of the Congress party. The victim's body is cremated a few hours later.
The brothers decided, with four friends, to take a "joy ride" in the bus that Ram Singh drove for a living, according to police statements. None of the six, who are all in custody, nor their lawyers could be reached for comment.
A little after 9 p.m., the bus pulled in at the stop where the couple waited, police say. They were the only ones to board, paying a fare of about 20 rupees, or 35 cents, according to police. Thus began an encounter so gruesome that it shocked the nation and, ultimately, took a life.
As the bus set off, three of the men who were seated in the driver's cabin started harassing the two passengers, police say. When the software engineer tried to resist, the men started beating him on his legs, arms and head, according to police.
The woman tried to intervene to protect her friend. The men dragged her to the rear of the bus and raped her as they drove around south Delhi for an hour, police say.
Finally, the men robbed the couple, stripped them and pushed them out of the bus onto a highway, according to police. They were found and taken to Safdarjung Hospital, one of the largest in Delhi. The man was later released; Indian media said he was at home in the state of Uttar Pradesh, which borders the capital.
Amol Sharma/The Wall Street Journal
Residents of the Ravi Dass Camp slum in Delhi, the home of four of the men charged in the attack.
The next morning, police arrested Ram Singh, 33 years old, as he sat on the same bus. Police said he admitted to the crime and disclosed the names of the other men involved, including his younger brother Mukesh, who was arrested the following day.
Among the others were two more Ravi Dass Camp residents: a fruit-seller and a fitness instructor at a local gym. Both are in their late teens, according to police and local residents.
Another two men also are in custody: a 28-year-old from the north Indian state of Bihar and a juvenile from Uttar Pradesh. Police said both worked as bus cleaners.
As the news of the attack spread, prompting round-the-clock coverage on India's television news stations, the young woman battled for her life.
"I haven't seen such a case in my career of 30 years," said B.D. Athani, medical superintendent at Safdarjung Hospital. "It was a severe form of assault and brutality."
The victim was put on life support and underwent two abdominal surgeries during the first few days, including having a portion of her intestines and genitals removed.
She responded well to the surgeries and remained conscious. She gave a statement about the rape to police, mostly by writing notes.
On Dec. 21, five days after the attack, doctors told a news conference they had taken her off life support, but were worried about infection spreading to her liver.
Two days later she was put back on life support when she complained of breathing problems, said Yatin Mehta, a critical care specialist who was part of the team treating her.
A third abdominal surgery that day attempted to deal with internal bleeding and fluid collection in her abdomen, he said.
On Dec. 26, she suffered a cardiac arrest. Her deterioration led the government, on doctors' advice, to send her that evening to Mount Elizabeth hospital in Singapore, one of Asia's top hospitals.
By the time she boarded the air ambulance, infection had spread to the woman's lungs—as well as her abdomen—and she had suffered brain injury, according to doctors.
In Singapore, eight specialists were assigned to the woman. The hospital put her on maximum artificial ventilation support and pumped her with antibiotics and stimulants aimed at maximizing her ability to fight off infection, according to statements it released.
But, on Friday, Mount Elizabeth said the patient's health, already "extremely critical" on admission, had taken a turn for the worse.
She died on Saturday at 4:45 a.m. local time of "severe organ failure following serious injuries to her body and brain."
Later in the day, police charged the six alleged attackers with murder. A special Air India plane flew the young woman back to New Delhi. A few hours later, attended by her family and government officials, the body of the woman, a Hindu, was cremated.
In a village in Ballia district in Uttar Pradesh state, where the family hails from, the victim's 80-year-old grandmother was quoted by the Sunday Times as saying: "They left this village for a better life. Look what they have got."
—Romit Guha and Rajesh Roy contributed to this article.
A version of this article appeared December 31, 2012, on page A10 in the U.S. edition of The Wall Street Journal, with the headline: How a Night Out in Delhi Turned Tragic.
Manufacturing growth accelerates in China
Chinese shoppers and Christmas decorations are reflected in mirrors inside a shopping mall in Beijing. Photo: AP
BT :Associated Press Beijing : December 31, 2012 | 12:12 IST
China's manufacturing grew at its strongest rate in 18 months in December but new exports fell from the previous month due to weak global demand, a survey showed on Monday.
HSBC Corp said its monthly purchasing managers' index rose to 51.1 per cent on a 100-point scale on which numbers above 50 show expansion. That was up from November's 50.5 and the strongest growth since May 2011.
The survey adds to data showing China's economy is recovering from its deepest downturn since the 2008 crisis but some industries are still weak.
"Such a momentum is likely to be sustained in the coming months when infrastructure construction runs into full speed and property market conditions stabilize," said Hongbin Qu, HSBC's chief China economist, in a statement.
Zuma press :WSJ
Qu said the latest activity should support growth of about 8.6 per cent in 2013. The International Monetary Fund and private sector forecasters expect growth of about 8 per cent in 2012 - strong by Western standards but China's weakest expansion since the 1990s.
Factory production and consumer spending are picking up but export demand is weak. December trade data have yet to be reported but November export growth plunged to 2.9 percent over a year earlier from the previous month's 11.6 percent.
Companies responding to the HSBC survey said total new orders grew at a faster pace in December than the previous month but new export orders fell slightly. Just over 12 percent of companies reported lower new export orders.
"Fewer export sales were linked to weak demand in Europe, Japan and the U.S.," HSBC said.
Beijing set a 10 percent target for trade growth in 2012 but is likely to fall far short of that. Demand for China's goods is so weak that the government has said exports will contribute nothing to 2012's overall economic growth.
The commerce minister, Chen Deming, warned in November that Chinese exporters face "relatively grim" conditions in coming months and "many difficulties next year."
Western export markets face uncertainties including the U.S. "fiscal cliff" - or impending automatic tax and spending cuts that could disrupt economic growth - and the euro area debt crisis
Private equity slipping away
Indian Express :30 Dec 2012
There is a distinct lack of buzz on the private equity front in the third quarter in India.
Investments by private equity and even the smaller angel investors who incubate start-ups are plunging mostly because exits remain difficult.
As per latest figures from the Emerging Markets Private Funds Association, private equity investments in India are down to just $2.06 billion in the first three quarters of the calendar year as against $6.17 billion in 2011 and $6.22 billion in 2010.
This is also getting reflected in money raised for India focussed funds. Those too are down at $ 1.7 billion in nine months against $2.74 billion in 2011. The sum that has exited India at $2.4 billion in 2012 is far more than the investments made.
The downtrend is of course partly in sync with global developments. A survey by Grant Thornton released last week says that there were fund-raising fears in the global sphere as well, as nearly three-quarters (72 per cent) of general partners described the fund-raising outlook as either “negative” or “very negative”. In 2011, it was 46 per cent.
Harish HV, Partner, Grant Thornton India says private equity is finding it difficult to navigate emerging markets because of a combination of governance risks and the absence of deep capital markets to exit their investment.
The emergence ‘frontier markets’ outside of the more established hubs like China and India is also a warning signal for these hotspots. Among BRIC nations, only Brazil has managed to attract more PE funds. Indonesia and Malaysia and even smaller economies like Myanmar, Ghana and Tanzania are attracting the attention of angels.
A disaggregated analysis of private equity by PricewaterhouseCoopers show even now most money flows into the IT sector, even in a downturn. Since banks in are rarely finance risks, the options for entrepreneurs with fresh ideas has got that much more limited.
Saturday, December 29, 2012
Tata group in partnership with Indian Institute of Management Calcutta announces the launch of Tata Social Enterprise Challenge
Press Release : TATA Group : Mumbai:28 Dec 2012 :12:54 pm PST
Teams who either have an early stage venture (not older than three years) or a promising idea with a plan that can create sustainable social impact, can submit their business plans online at www.tatasechallenge.org. The applicants may or may not be Indian nationals; however, the social venture should be aimed at creating social impact in India. The ventures will be judged on three parameters – business model, social impact and sustainability. There is no restriction on the business model and it can be for-profit, not-for-profit or even hybrid, but it necessarily is required to demonstrate significant social impact through results or proof of concept. Impact Proposals (detailed business plans) are invited in the areas of education, health, agriculture, energy, technology, housing, handicrafts and microfinance, among others. The last day to submit the Impact Proposal online is January 20, 2013. The challenge also invites people to nominate social enterprises they know about through the initiative’s website.
Rewards
Mentorship
Three week mentorship support will be provided for all the teams shortlisted for the semi-finals, including three days at the IIMC campus.
Funding opportunity
All teams shortlisted for the semi-finals and finals will have an opportunity to pitch to India’s largest social venture capitalists for seed funding.
Incubation
The teams which make it to the grand finale will be given an opportunity to pitch for incubation at IIMC.
Cash awards
The top two winners of the competition will win cash awards of upto Rs2 lakh to be invested in their ventures.
The challenge will have three rounds.
1.Round 1 – Teams will need to submit Impact Proposals online in the format specified.
2.Semi-final round – A maximum of 20 teams selected from Round 1 will go through a 3-week mentorship programme that includes mentorship at the IIMC campus. These teams will pitch to a panel of esteemed judges consisting of social venture capitalists, social entrepreneurs, Tata leaders and faculty from IIMC.
3.The grand finale – From the semi-finalists, a maximum of ten teams will be selected for the grand finale. These teams will pitch to a panel of esteemed judges, consisting of business leaders from Tata group, CEOs / founders of social venture capital funds, social entrepreneurs and faculty from IIMC.
According to Atul Agrawal, vice president, corporate affairs, Tata Services, “The Tata group is known for pioneering ventures, and continuously endeavours to foster leadership and entrepreneurship through various initiatives. In line with the group’s ethos of commitment to society, the Tata Social Enterprise Challenge is a new initiative to recognise promising ventures in the field of social entrepreneurship and provide them with a platform that offers them an opportunity to grow.”
Prof Ashok Banerjee, dean, new initiatives and external relations, IIMC, says, “Responding to societal needs is one of the core institutional values of IIMC. IIMC has always encouraged its students to pursue their interest in entrepreneurship in the social sector and take up the role of flag bearers for innovation and entrepreneurship in the country. The institute expects this initiative to serve as an opportunity for young entrepreneurs to engage themselves in socially-relevant initiatives and also familiarise themselves with the work that various organisations are doing in the social sector in a sustainable manner.”
The challenge will culminate in February 2013 with a summit on social entrepreneurship at IIMC, where the winners will be felicitated. In addition to mentorship, investment opportunities, incubation opportunities and cash awards, during the course of the initiative, the finalists of Tata Social Enterprise Challenge will receive continued support from IIMC, through cells on campus, including the entrepreneurship cell (mentorship support) and INCA (pro-bono consulting).
Tata Social Enterprise Challenge is a unique initiative, undertaken jointly by an educational institution and a business group, to promote the spirit of social entrepreneurship in India. It is being supported by some of the biggest venture capitalists in the social entrepreneurship space like Ennovent, Yunus Business Fund (through Grameen Creative Lab), Acumen Fund and Ankur Capital amongst others.
For more details and updates on Tata Social Enterprise Challenge, log on to: www.tatasechallenge.org/
Life begins at 75
| He may no longer be steering India's largest conglomerate, but make no mistake - Ratan Tata will have his hands full in his second innings, too |
| B S :Shyamal Majumdar / Mumbai Dec 28, 2012, 00:55 IST |
Titoo and Tango must be eagerly looking forward to tomorrow
morning. Reason: their master, who works 16 hours a day and often flies between
four countries in a week, would finally be able to spend more time with them
after he retires from Tata Sons this evening.
But the two German Shepherds may be in for disappointment.
While he would surely stick to his words of not allowing his
“shadow to hang over Bombay House like a ghost walking the corridors,” it’s
also equally certain that Ratan Tata, 75, would not slow down his pace and be
happy watching the seagulls on the Arabian Sea, which is just 40 meters away
from his apartment in Colaba.
Unlike his predecessor, JRD Tata, who in 1991 handed over to
him the chairmanship of Tata Sons as well as control of the trusts, Ratan will
continue to retain control of the latter. Significantly, there is no retirement
age at the trusts, which together control around 66 per cent of the shares of
Tata Sons. As a custodian, he will have to anyway keep a close watch on the
proceedings in the group.
But what will keep Tata really busy in his new office at
Elphinstone Building (a new elevator has just been installed in the building,
which is just a few blocks away from Bombay House), are his mega plans for the
trusts, which were so far attracting only half his attention. The first
indication of that came in his acceptance speech for a Lifetime Achievement
Award instituted by the Rockefeller Foundation when he said his “life’s work
isn’t done yet” as he hasn’t been able to touch as many people at the bottom of
the pyramid.
Tata clearly believes “patchwork philanthropy” — giving a
bit of cloth here and food there — would not go far. So he had moved away quite
early from a benefactor-dependent model from a partnership model. The second
part of that drive would come now as Tata doesn’t share the common belief that
charitable institutions have to operate on a shoestring budget and does not
need to create a professionally-run corporate body.
In a recent interview to American television journalist
Charlie Rose, Tata laid out at least a part of his action plan. He said he
would focus on rural development, conservation of water and his most visible
goal is to do something in nutrition in children and pregnant mothers because
that would change the mental and physical health of India’s population in years
to come.
That’s a long enough list. But does it mean he would cut
himself off completely from all that is remotely considered commercial in
nature? The answer is a big No. Just like JRD, he would remain Chairman
Emeritus of Tata Sons and several group companies – an ornamental position —
but one which gives him the moral authority to give advice if asked for by the
new Chairman. Tata himself has made it clear that he would be available to
anyone seeking his advice but would refrain from taking any active role in the
running of the group’s businesses.
Going by the extraordinary closeness he shares with Cyrus
Mistry, the latter wouldn’t be miser in seeking his counsel.
The advice would certainly be much more frequent in matters
relating to Tata Motors. The company, which is clearly closest to Tata’s heart,
is suddenly feeling the pressure from newer competitors like Mahindra &
Mahindra because of an indifferent performance in domestic markets. Tata has
also made no secret of his desire to remain involved with the Nano – the
world’s most affordable car which has never really lived up to the hype around
it.
Going by his public statements, Tata would obviously try to
reverse that even after he retires as he has himself said he would love to be
“involved” rather than think this is the level that Nano sales can be.
And then there is the buzz about Tata planning to set up an
international centre with state-of-the-art facilities to design a wide range of
products. Though there is no confirmation on this, the initiative is not a
surprise considering that the man actually joined the family business by
accident – he initially wanted be an architect and live in the US. The design
centre would be quite close to his heart as Tata has said quite a few times
that the one benefit of studying in the School of Architecture was that it
taught him to doodle when bored. He said board meetings were one place he would
get bored – that compulsion, thankfully, has just got over.
All this is quite a handful for people much younger in age
and in the prime of their working life. But Tata would do more. For example, he
has already said he would like to attend the annual general meetings of Tata
group companies as a shareholder and ask questions.
Besides, Tata will continue to be on the board of directors
of Alcoa, apart from being on the international advisory boards of Mitsubishi,
the American International Group, JP Morgan Chase, Rolls Royce, Temasek
Holdings and the Monetary Authority of Singapore. He is also on the board of
trustees of Cornell University and the University of Southern California.
And then he has to do more justice to his fleet of cars (his
pet grouse has been that he just didn’t get enough time to drive them himself),
and flying — he has expressed his desire to flying helicopters more often as he
loves the engineering in them.
Clearly, his two canine friends would continue to have a
difficult time in getting Ratan Tata’s attention.
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