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Sunday, May 17, 2009

CHAMBER CONGRATULATES DR.PAWAN CHAMLING ON LANDSLIDE VICTORY

PRESS RELEASE
DT 16 MAY 2009

Sikkim Chamber of Commerce congratulates Dr Pawan Chamling- President-Sikkim Democratic Party for a sweeping victory in the Assembly poll 2009. The business community of Sikkim has voted in full strength in favour of the policies and programmes of SDF and its visionary leader Dr Pawan Chamling, as per their promise and commitment to be more responsible and make Sikkim’s economy more vibrant.

Sikkim now enters the diamond age. This victory symbolizes the victory of peace and development. Dr Pawan Chamling enters the 4th term of managing the State of Sikkim.
Now Sikkim will rise up further in all sectors in the field of agriculture, trade & commerce, industry, horticulture, floriculture, tourism, nathula trade, education, health, youth empowerment, rural development and infrastructure.

The business community is now sure that having obtained mandate of the people on issues of their interest, Dr Pawan Chamling, President-Sikkim Democratic Front will soon fulfill their aspirations.

The blessings of Guru Padmasambhava shall remain on us for all ages to come.

( S.K.Sarda)
President
Sikkim Chamber of Commerce
Gangtok

SIKKIM FIRST EVER MARWARI FILM GOES ON FLOOR

Sikkim first ever Marwari film goes on floor
Gangtok (IANS): “Khoto Sikko”, the first Marwari film to be made here highlighting the lives of the migrant Marwari community living in the state for generations, has gone on the floors. Producer-director Rakesh Somani says that the small budget family drama will create ripples at the box office.
“This is the first Marwari film being made by a Sikkimese. Marwari boy Raunak Somani from Gangtok plays the male lead. Sonia Seth, who is from Namchi in South Sikkim, is paired opposite him," Somani, who is also directing the film, told reporters at the mahurat shot of the film Friday.
The film will be shot and made in Sikkim. B.P. Bagjai will work as the assistant director, while camerawork will be handled by Gechen Bhutia.
"The movies that are made in Jodhpur do not appeal to us who live in the Himalayan belt. There are many like us in the northeast region and other places who don't understand the pure language used by the films that come out from Rajasthan. This is our film for our audiences," said Somani, managing direcor of SK Audio vision Pvt Ltd.
Somani plans to wrap up the film this year and will have 80 percent of the shooting in the state. The rest will be shot in Rajasthan, Siliguri and Kakribhitta at Indo-Nepal border.

Monday, May 11, 2009

SERVICE TAX ON SALE OF LOTTERY TICKETS IN SIKKIM

Service tax on sale of lottery tickets

S Madhavan / New Delhi May 11, 2009
In a very recent decision in Union of India Vs. Martin Lottery Agencies Ltd. (2009-VIL-01-SC-ST), the Supreme Court had occasion to deal with some fundamental principles relating to taxation of services.

The issue before the Supreme Court was whether the sale, promotion and marketing of lottery tickets would be exigible to service tax under the relevant provisions of the Finance Act, 1994. The respondents in this case were agents of the state of Sikkim which had floated lottery schemes. Accordingly, the respondents were able to purchase lottery tickets in bulk at a discount to their face value and, in turn, resell these tickets to principal stockists at a different price and thus make a profit out of the difference between the amounts received from the principal stockists and those paid to the state government. The department issued a letter to the respondents requiring them to pay service tax under the category of ‘business auxiliary service’. This letter was impugned before the Sikkim High Court by way of a writ petition and the High Court upheld the writ petition on the ground that since lottery tickets were not goods but were actionable claims, the petitioners could not be said to be rendering any servicein relation to promotion of the client's goods or of marketing or sale of such goods. It hence came to the conclusion that the definition of business auxiliary service was not attracted. It was this order of the Sikkim High Court which was the matter of the appeal in the Supreme Court.

In order to appreciate the subject matter under reference, it is appropriate to extract the definition of business auxiliary service in the service tax law as follows: “Business auxiliary service” means any service in relation to:
(i) promotion or marketing or sale of goods produced or provided by or belonging to the client; or
(ii) promotion or marketing of service provided by the client;

This definition as per Section 65 (19) of the Finance Act, 1994 came into effect from July 2003. Subsequently, an explanation was added to sub clause (ii) of Section 65(19) in May 2008 as follows:-
Explanation — For the removal of doubts, it is hereby declared that for the purpose of this sub-clause, “service in relation to promotion or marketing of service provided by the client” includes any service provided in relation to promotion or marketing of games of chance, organised, conducted or promoted by the client, in whatever form or by whatever name called, whether or not conducted online, including lottery, lotto, bingo;”
While it was this explanation which was the subject matter of the decision, certain fundamental aspects of taxation of services were taken into consideration as well.
At the outset, the court examined past decisions on the matter and came to the conclusion that a lottery ticket could not be property, either as a thing of value in itself or of title or ownership to anything. It therefore came to the conclusion that on purchasing lottery tickets, a person merely obtained a claim to a conditional interest in prize money that was not in his possession and hence lottery tickets could only be construed as actionable claims and not goods.
Having held so, the Court then asked the question as to whether the state, in organising a lottery, rendered any services to anybody. The Central government argued that this was indeed the case, as a service was undoubtedly rendered to the general public since revenues were generated as a result of the activity of sale of lottery tickets. The Supreme Court did not agree and held that raising of revenues by the State by itself cannot amount to a rendition of service. The Court considered the dictionary meaning of the word ‘service’, which has not been defined in the Finance Act 1994, as follows:
“Work done or duty performed for another or others; a serving; as professional services, repair service, a life devoted to public service. An activity carried on to provide people with the use of something, as electric power, water, transportation, mail delivery, telephones, etc., Anything useful, as maintenance, supplies, installation, repairs, etc., provided by a dealer or manufacturer for people who have bought things from him.”
It held that services provided in respect of the matters envisaged under Section 65(19) of the Act must be construed strictly. Before a tax was found to be leviable, it must come within the domain of legitimate business and/or trade. The Court also considered the United Nations — Central Product Classification (UN — CPC), which contained the description of gambling and betting services and covered the activities of organising lotteries. It also considered whether organising a lottery could fall within the terms 'entertainment' and 'amusement', as provided in Entries 34 and 62 of List II of the Seventh Schedule to the Constitution, so as to be construed as a service. The Court took note of the fact while the activities of the respondents could amount to a service, in terms of advertisement and promotion of lotteries and other marketing related activities, the definition of ‘business auxiliary service’ required that such promotion and marketing activities should be with regard to the services provided by the cients, in this case the State of Sikkim.
Thus, lotteries themselves had to be construed to be services, if the taxable heading of 'business auxiliary service' were to be attracted. The Supreme Court then held that the rendition of service for the purpose of imposition of service tax was imperative. It must be a part of the economic activity. Economic activity had three characteristics; a­ tax on production; a tax on sales and a tax on services. The concept of the Value Added Tax comes from the generic expression so as to include taxes on services as well.
The court considered all of these principles but was unable to come to a definitive conclusion as to whether organising lotteries would amount to a rendition of service. Since it was unable to do so, it limited itself to thereafter considering the legal implications of the explanation to sub clause (ii) to Section 65 (19). It came to the conclusion in that regard that this explanation, which stated that service in relation to promotion or marketing of services provided by the client would include a service provided in relation to promotion or marketing of lottery, could only be prospective in nature, since it was not at all apparent or clear in law that a lottery was a service and it was only because the explanation held it to be so that the service tax, if at all, would apply to services in relation to promotion or marketing thereto.
The court thereafter came to the conclusion, after an extensive discussion on whether the explanation was a clarificatory or declaratory one in nature, that the explanation had undoubtedly introduced a substantive law. If a substantive law was thus introduced, it could only have prospective effect. It thus held that subject to the constitutionality of the explanation, as to whether it could simply deem the organisation of a lottery to be a service, the service tax in regard to services, in relation to such organisation of lotteries under the relevant heading of business auxiliary services, was only effective from May 2008, when the explanation took effect.
This interesting case is similar to the recent one of the Delhi High Court on renting of immovable property in that the question of whether something can simply be held to be a service, without the requirement of addressing the issue of whether or not the activity in question fell within the dictionary meaning of 'service', was the subject matter of both the above cases. In this present case of course, the Supreme Court has not concluded whether organising a lottery is a service and whether the government can simply deem it to be a service whereas the Delhi High Court had held that renting of property was not a service. It will be interesting to see how these issues are dealt with by the Supreme Court in any future case.

The author is Leader, Indirect Tax Practice, PricewaterhouseCoopers
pwctls.nd@in.pwc.com

TOURISTS EVACUATED IN NORTH SIKKIM

Tourists evacuated in Sikkim after landslide

Mangan, Sikkim (IANS): Around 350 tourists who were stranded on Saturday night along the North Sikkim Highway after a massive landslide blocked the road have been evacuated, officials said on Sunday.

The tourists were stranded between Mangan and Lachen and Lachung in remote north Sikkim.
According to the District Magistrate North T.N. Kazi, the landslide had taken place at one place - Langkey Khola about seven km from Mangan - and left about 40 vehicles with tourists stranded on the highway.

The tourists were either turned back to their respective places of origin by their travel operators or taken to safer areas by vehicles, Mr. Kazi said.

Paljor Lachungpa, president of Travel Agents Association of Sikkim (TAAS), confirmed that representatives of travel agencies from Gangtok had reached the spot and taken care of the tourists.

"We took back many of the tourists to the hotels they were lodged in at Lachen or Lachung. They were lodged there at no extra cost," said Mr. Lachungpa.

MATHU LA TRADE IN LOW RESPONSE

Nathu La trade draws low response in its fourth season
Nathula, Sat, 09 May 2009 ANI

Nathula (Sikkim), May 9 (ANI): The fourth season of trade between Sikkim and the Tibet Autonomous Region (TAR) through the Nathu La Pass of Sikkim has reflected disappointment among Indian traders who still haven't received travel passes since border trade was opened on May 4.
The travel passes of around 62 Sikkimese traders are still pending with the East district administration which is the prime agency to issue all such passes for the border trade causing a major disappointment.

Anil Gupta, General Secretary of Indo-China Border trade association of Sikkim said, " the low-key inauguration ceremony of May 4 and the delay of travel passes will create a unharmonious situation between the two countries and will refrain Indian traders from visiting the Tibetian side from next year."With the delay of travel passes a bitter international relation will be created affecting the trade. The identity of Sikkim will also be spoiled in the national scenario. The travel passes shouldn't have been delayed as it was declared officially that the international border trade would begin and every thing should have been well organized. Now because our traders can't go there creating a lot of disappointment on their side," he added.
Border trade between the two countries is also sluggish due to restrictions in tradable items. India can import 15 items from China including silk, yak pelts and horses, and export 29 goods that include textiles, tea, rice, vegetables and herbs.
Business people from both sides of the border are seeking a broadening of the list of items traded through the pass.
Kesang Diki, Tibet Autonomous Region (TAR) commerce official was unsatisfied with the facilities given to them on the Indian side and with the unfavourable weather causing further threat to their goods.
"When the fellow Indian traders come to our place to trade we provide all the basic necessities like carrying the good and picking from the bus stand and keeping inside the stall. We don't let them face problems but out here we face the trouble of carrying our own good to the mart. I also feel that a revamped list of items should be of prior concern if you want a good trade between India and China," she said.
In July 2006, the two Asian giants, re-opened trade across the Nathu La Pass as part of a broader rapprochement. The move marked the first direct trade link between the nuclear-armed neighbours since a bitter border war in 1962.
Under the agreement, trade takes place four days a week - Monday to Thursday - beginning May each year and lasting until November 30 when snow makes the area impassable.
Although two-way trade was slow in the first three seasons, about 1,900 Chinese traders crossed the border separated by a rusty barbed wire marker to the bazaar of Sherathang, five kilometers below the pass on the Indian side. About 1,200 Indian traders headed to the Rinchengang interim market in Tibet on the Chinese side, 16 km from the border, during the first three seasons. (ANI)

Tuesday, May 5, 2009

NATHU LA TRADE - FOURTH SEASON- INAUGURATED

GANGTOK:4 May 2009:
( Source: The Economic Times)

The fourth year of Indo-China peripheral border trade kicked off on Monday with a ceremony at Sherathang trade mart near Nathula border and Rinchengong trade mart on the Chinese side. Traders on both sides greeted each other and offered khada (silk scarf) and foodstuff.

The state department of commerce and industry officials with director Ujjal Gurung attended the ceremony. Indo-Tibet Border Police (ITBP) personnel handled the entire show at the checkpost and trade mart centre with immigration and customs department of the government of India. President of the Sikkim Chamber of Commerce S.K. Sarda and others were present too. Trade between the two countries will remain open till November.

It is reported that trade at Nathula border has not shown the expected progress as the merchandise listed by both the governments in 1990s has become obsolete now and do not command market demand these days. The other two border trade points in Himachal and Uttarakhand also have been experiencing the same problem. Only one item, silk yarn, is doing well in Sikkim.

In fact, reports pouring in suggest that these three border trade points have now become dens for international smugglers. With the connivance of officials of central agencies, responsible for supervising border trade, unlisted items are entering our country in huge quantities.

When legal trade in Sikkim last year amounted to Rs 96 lakh, smuggled Chinese electronic items saw a hefty business of Rs 15 crore at this border. Government of India has taken some action by suspending and transferring guilty officials who were assigned to monitor the border trade. This has not improved matters so far.

According to reports of central intelligence wings, smuggled Chinese mobile sets have created havoc in the Indian market. It is reported that in the recent Mumbai terrorist attack, Chinese mobiles without any code numbers were found to be used for blasting. The ministry of telecom recently has directed all concerned to ensure that no service providers should issue any SIM card without obtaining the IMEI (international mobile equipment identity) number of the handset. It is observed that for quite sometime, bordering countries are going out of their way to intercept our mobile network. The department of telecom is now taking steps to check that.
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Sunday, May 3, 2009

CHAMBER DEMANDS REVIEW OF TRADE LIST THRU NATHU LA

SIKKIM CHAMBER OF COMMERCE
GANGTOK

PRESS RELEASE DT.1 MAY 2009

Nathu la trade enters the fourth season beginning 4th May 2009 when Department of Commerce, Government of Sikkim is organsing a function wherein traders have been invited to participate in the opening function to be held at Sherathang Trade Mart on the Indian Side. The timing of the programme has been fixed at 9 AM on 4th May 2009.

Around 50 applications have already been submitted at DC office for issue of Trade Pass.
These trade passes are issued to those residents of Sikkim who have got a trade licence issued by Local Self Government, Government of Sikkim. The traders can also get permission to take their vehicle upto Chinese trade post located 14 km down Nathu la..

The participation in the past three years have chiefly been from the residents of border areas of Sikkim. The trade lists which was notified by a public notice No 20(RE-2006)2004-2009 dt 13th June 2006 remains the same even for the current season allowing 15 items for import and 29 items for export from Sikkim,India.

The list remains obsolete

We urge Commerce Ministry to review this list immediately so that a viable and vibrant trade can start over Nathu la.

S.K.Sarda
President
Sikkim Chamber of Commerce
Gangtok

Friday, May 1, 2009

INDO-CHINA TRADE THRU NATHULA TO RESUME ON 4TH MAY 2009L

Gangtok:1 may 2009: Bilateral trade between Asian giants India and China will resume through the Nathu La pass in Sikkim on the famed Silk Route Friday, with the government promising traders a new mart near the border, officials said.
Nathu La is one of the three trading border posts between India and China, the other two being Shipkila in Himachal Pradesh and Lipulekh in Uttarakhand.
While the list of items allowed for the border trade will remain unchanged this season, traders can expect a new trade mart at the border, work on which has already been started, said Sikkim Industries Secretary M.G. Kiran.
"The central government has promised us Rs.8.5 crore ($1.7 million) to construct the mart. Of this, we have already received Rs.1 crore ($202,600)," Kiran said.
He also said the trade mart was coming up at Sherthang near Nathu La pass.
An eight-room hotel is also being built in the area primarily for Indian traders. The state industries authorities are also building a new car park and more shops as part of the mart.
The department is also planning to construct cargo space in view of the expected enhanced volume of trade this year. A check post is being built at the Nathu La border, where immigration and customs checks will be under one roof.
Kiran added that the construction work would be supervised and managed by the roads and bridges department of the state government.
The sluggish border trade between the two countries is due to restrictions in tradable items - India can import 15 items from China including silk, yak pelts and horses, and export 29 goods that include textiles, tea, rice, vegetables and herbs.
However, as the government has now provided most favoured nation (MFN) status to trade through the Nathu La route, the trade volume is expected to increase this season, officials said.
The two Asian giants in July 2006 reopened trade across the 15,000-feet (4,545-metre) Nathu La pass, 52 km east of Sikkim's capital Gangtok, as part of a broader rapprochement.
The move marked the first direct trade link between the nuclear-armed neighbours since a bitter border war in 1962.
Under an agreement reached between India and China, trade takes place four days a week - Monday to Thursday - beginning May each year and lasting until Nov 30, when snow closes down the pass.
Bilateral trade in 2006 through Nathu La saw business worth about Rs.20 lakh ($40,200), with Indian traders doing business worth about Rs.11 lakh ($22,250). In 2007, the volume of trade was to the tune of Rs.26 lakh ($52,100).
Although two-way trade was slow in the first three seasons, last year about 1,900 Chinese traders crossed the border separated by a rusty barbed wire marker to the bazaar of Sherathang, 5 km below the pass on the Indian side. The total trade stood at Rs.96 lakh ($194,400) in 2008.
About 1,200 Indian traders headed to the Renqinggang interim market in Tibet on the Chinese side, 16 km from the border, during the first three seasons. (IANS)

SIKKIM REGISTERS 83% HIGHEST VOTING IN INDIA

Sikkim registers record 83 percent voting

Gangtok, April 30 (IANS) Sikkim registered a record voter turnout of 83 percent Thursday as it held simultaneous assembly elections and balloting for its lone Lok Sabha seat in the third phase of the elections.The percentage Thursday is higher than the 82 percent registered in 1999. The figure had declined to 80 percent in 2004. Sikkim joined the Indian Republic in 1975.
In Thursday’s elections, the West district saw a total voting turnout of approximately 84.16 percent, South district a turnout of 82.38 percent, North district a voting turnout of 81 percent, while the East district witnessed 80 percent.
Chief Electoral Officer T.T. Dorjee said the elections in Sikkim, including for its 32 assembly constituencies, were a “smooth and peaceful affair”.
During the day at some places in the South and West districts, the electronic voting machines (EVMs) had to be changed due to technical malfunction, and due to the bad weather some polling officers could not reach their polling booths on time, delaying voting in some areas.
The CEO also stated here that as of now there were no negative reports from any of the presiding officers which meant that there was no question of re-polling in any of the polling stations.

Wednesday, April 22, 2009

GANGTOK HILL IN 1910-SOURCE-S.K.SARDA'S ALBUM


saving bank account holders to watch

  • Around 41% of India’s population, those that have savings bank accounts with Indian banks will be a happier lot come April 1, 2010. This is considering the RBI’s latest directive to banks who have been asked to calculate interest on savings account balances on a daily basis rather than for the period between 10th and last day of every month as is the ritual now.
    This would mean that you’d get interest even if you keep money in your savings account just for one day in a month. Currently, if you keep money between the 1st and the 10th of a month, but withdraw it after that, you get zero interest even though the bank had your money deposited for nine days. While banks have been opposing such a move arguing that this would involve high levels of computerisation, the fact is that most of them now boast of technology implementation across 100% of their branches. And RBI has taken notice of this fact. .

APPLY 80/20 RULE FOR SUCCESS

Here's a small sampling in Brian's chapter titled:

Apply the 80/20 Rule to Everything. Enjoy!

The 80/20 Rule is one of the most helpful of all concepts of time and life management. It is also called the "Pareto Principle" after its founder, the Italian economist Vilfredo Pareto, who first wrote about it in 1895. Pareto noticed that people in his society seemed to divide naturally into what he called the "vital few", the top 20 percent in terms of money and influence, and the "trivial many", the bottom 80 percent.

He later discovered that virtually all economic activity was subject to this principle as well. For example, this principle says that 20 percent of your activities will account for 80 percent of your results, 20 percent of your customers will account for 80 percent of your sales, 20 percent of your products or services will account for 80 percent of your profits, 20 percent of your tasks will account for 80 percent of the value of what you do, and so on. This means that if you have a list of ten items to do, two of those items will turn out to be worth five or ten times or more than the other eight items put together.

Number of Tasks versus Importance of TasksHere is an interesting discovery. Each of the ten tasks may take the same amount of time to accomplish. But one or two of those tasks will contribute five or ten times the value of any of the others.

Often, one item on a list of ten tasks that you have to do can be worth more than all the other nine items put together. This task is invariably the frog that you should eat first.
Focus on Activities, Not AccomplishmentsThe most valuable tasks you can do each day are often the hardest and most complex. But the payoff and rewards for completing these tasks efficiently can be tremendous. For this reason, you must adamantly refuse to work on tasks in the bottom 80 percent while you still have tasks in the top 20 percent left to be done.

Before you begin work, always ask yourself, "Is this task in the top 20 percent of my activities or in the bottom 80 percent?"

The hardest part of any important task is getting started on it in the first place. Once you actually begin work on a valuable task, you will be naturally motivated to continue. A part of your mind loves to be busy working on significant tasks that can really make a difference. Your job is to feed this part of your mind continually.

Motivate YourselfJust thinking about starting and finishing an important task motivates you and helps you to overcome procrastination. Time management is really life management, personal management. It is really taking control of the sequence of events. Time management is having control over what you do next. And you are always free to choose the task that you will do next.

Your ability to choose between the important and the unimportant is the key determinant of your success in life and work.

Effective, productive people discipline themselves to start on the most important task that is before them. They force themselves to eat that frog, whatever it is. As a result, they accomplish vastly more than the average person and are much happier as a result. This should be your way of working as well.

Monday, April 20, 2009

MURTHY OF INFOSYS PLEDGES WEALTH FOR SOCIAL PROJECTS.

Murthys pledge wealth for social welfare projects

20 Apr 2009, 0605 hrs IST, Asha Rai, TNN
Print Email Discuss Share Save CommentText:
BANGALORE: Taking a leaf out of investment moghul Warren Buffett's social initiatives, Infosys co-founder and chief mentor N R Narayana Murthy and
his wife Sudha Murthy intend to give their monies to those working in three sectors - basic healthcare, basic education and basic nutrition.

"There are lots of fabulous initiatives in the field being executed by some wonderful people to address the issues that interest us," said Murthy. "So, Sudha and I will give financial help to these people rather than doing it directly."

Buffett, the Berkshire Hathaway chairman, has similarly pledged his multi-billion dollar fortune to Microsoft founder Bill and his Melinda Gates' foundation.

Although Sudha is also the chairperson of Infosys Foundation, Murthy said they wanted to keep their personal philanthropy separate from the work of the company's initiative. The Infosys foundation is funded by a percentage of Infosys' profits that accrue to it annually.

The Murthy family's combined worth as per the latest price of Infosys scrip, is Rs 4,000 crore. The couple is worth Rs 1,750 crore, two-thirds of which belong to Sudha. A larger chunk of Rs 2,250 crore belongs to their two children, Akshata and Rohan. While Rohan is a doctoral student at Harvard University, Akshata is with a clean-tech firm in the US after completing her MBA from Stanford.

Murthy's share holding in Infosys is less than 1%. As he's been quietly giving away chunks of it, his equity stake in the company is just 0.56%, and at today's price is valued at Rs 445 crore. Sudha's 1.63% stake is worth Rs 1,300 crore. Murthy has always disclaimed beneficial ownership of shares held by his family.

The Murthys also believe in giving away the income generated by their wealth rather than the corpus itself. Their main income would be in the form of dividend from Infosys. Historically, Infosys has been a high dividend paying company so the income generated hitherto has been rather handsome.

Saturday, April 18, 2009

INDIA BUSINESS FORUM IN CHINA LAUNCHED BY CII

CII India Business Forum launched in China

[Beijing, 16 April,2009] "A well-functioning financial system is necessary for the revival of the world economy" said Mrs Nirupama Rao, Ambassador of India to China, while delivering the keynote address at the Conference on "Impact of the Global Economic Crisis : Challenges and Opportunities for India and China" organized by Confederation of Indian Industry (CII) in association of Embassy of India in Beijing. The event also became the platform for the launch of the India Business Forum (IBF) in China, an initiative of CII."Countries need to have effective credible fiscal stimulus, resumption of credit flows, cleaning up of the balance sheet of the financial institutions to tackle the current economic crisis" observed Mrs Nirupama Rao.

"Protectionism has to be avoided - protectionism in goods as well as services, as also financial protectionism" said Mrs Rao. In this time of global financial and economic crisis, there is need for stronger cooperation and coordination between India and China. The crisis must be turned into an opportunity by tackling it with the key commodity of confidence, opined Ambassador Rao.Both the countries, she added, are convinced of the need for continued and concerted economic liberalization that balances globalization with equitable and balanced growth that benefits the weaker and economically disadvantaged sections of our populations. Because of these strong fundamentals, both India and China has not been affected by the crisis as much compared to the western countries. Both are working together at the G-20 framework to help restore global growth and confidence and to address the systematic risks in the global financial system. The bilateral trade has increased ten-folds in the last six years and China has becomes the largest trading partner for India in 2008. She opined, by 2025, it is highly probable that China-India economic ties through trade, investment and technology linkages may be one of the most important bilateral relationship in the world. There is also a need to rectify the trade imbalance where India's trade deficit stood at USD 11.2 bln in 2008. On Indian side, there is a need to broaden and diversify the export basket. At the same time, India is seeking greater market access for its products where India has competitive advantage. She felt one of the focus areas for India Business Forum should be to address this issue.

Mr Wang Jinzhen, Vice Chairman, China Council for Promotion of International Trade (CCPIT) in his inaugural address said that like India, inflicted by the global financial crisis, China's both financial market and real economy has declined. The shutting down of small scale export oriented enterprises and cutting down of work workforce is evident in the fall of bilateral trade by 37% in January 2009 compared to the same period last year. China adopted a proactive fiscal policy and moderately easy monetary policy also introduced ten measures to expand domestic demand and put in place a series of related policies to stimulate the domestic economy, he informed.Mr Wang felt that to minimize damages and achieve early recovery both the Indian and Chinese Government should cooperate closely to enhance Trade Liberalisation and facilitation and eliminate trade barrier and trade protectionism. He also called the non-governmental organizations to play an active role to facilitate enterprises in mutual investment and trade apart from developing a SME network which will help in seeing opportunities in China-India economic interaction.

Earlier, Mr Chandrajit Banerjee, Director General, CII in his welcome address stressed on shifting of "India or China" strategy to "India and China", which will help in deriving benefits from advantages offered by both the emerging economies. He hoped that this Forum will help in bringing together the Industry and economies of both the countries together. IBF, an initiative of CII has been earlier launched in USA, South Africa and Singapore, which is providing an excellent platform for bringing together the various Indian companies based in the country, for better cooperation, networking and knowledge sharing added Mr Banerjee. It will act as a forum for promoting India China trade through collective and consensual approach to common issues. It will also act as a platform for networking with Chinese companies interested in the doing business with India, think tanks and other policy makers in China.

Mr J J Shrikhande, Chairman, CII IBF China also touched upon the various activities the forums intends to take up in the future. One of the key focus areas of IBF will be to work with Embassy and others towards building "Brand India" by creating platforms to showcase the sectoral strengths of India, areas of cooperation for trade and investment and share good practices to learn from each other, he said.The conference was well attended with more than 120 representatives from various Chinese and Indian companies based in China apart from officials from the Government departments and Embassy. The conference also has session focusing on the success stories of Indian companies in China and Chinese companies in India and investment opportunities for Chinese companies in India.

Wednesday, April 15, 2009

SDF MANIFESTO-2009- PROMISE TO OLD BUSINESS COMMUNITY OF SIKKIM

SDF MANIFESTO 2009

reservation in education and appointments:

Our Government has strengthened the mechanism of reservation of seats. In the higher education the Old Business Community will be provided 5% reservation.

Complete safeguard of dignity of Sikkimese Bhutia, Lepcha, Nepali and the_old businessmen and traders.

The first responsibility of our government is to safeguard the identity and dignity of Sikkim and the Sikkimese people. Our government through its pro people policies and programs has won many accolades which has enhanced the image of Sikkim at the national and intern national level.Our business community has contributed immensely toward the overall development of our State. This has been made possible by their hard work in an atmosphere of peace and security which has been provided by our Government. Their hard work has been recognized by our Government and citations and awards have been given to several and old citizens of the community. We will continue to adopt the same policy and shall protect their interest in the State. We will pass a resolution in the Legislative Assembly for exempting them from Central Income Tax for the Old Business Community. Our SDF party has also ratified this stand with the support of the people of Sikkim.In schools and colleges, they enjoy the same privileges at par with other communities in the State. Reservation is granted to them in higher education. The same shall continue.

• Exemption of Central Income Taxes to Sikkimese People

The Sikkim Subject Certificate holders have been exempted from paying Central Income Tax and this demand has been fulfilled by SDF Government during the last term. This achievement can be called historic as the demand was pending for a long time. While protecting this achievement of securing exemption from the Central Income Tax, Our Government has not lost sight of the genuine demand of the Old Business Communities, old residents and Old Government employees, both State and Central. Our Government is seized of this problem and we are going to strongly plead for equal rights of the old business community of Sikkim

• Protection and respect to Old Business Community of Sikkim

The SDF Government has given respect and justice to the old business people of Sikkim along with the rest of the Sikkimese Communities. This community which has contributed a great deal to the overall development of Sikkim has been recognized for the first time by our Government. They have also been given a proper business environment to flourish in a democratic manner and set up. They have been given dignity, respect and rights to live and practice their business in the State. We will continue and ensure that our business community members receive this respect and positive business environment. In addition to other facilities and rights provided to our business community it is the SDF Government which has for the first time provided higher education facilities (quota) for their children. This will continue. They do not have to face any obstruction, disrespect or difficulty in carrying on their business and exercising their fundamental rights.SDF’

MANIFESTO15TH LOK SABHA AND 8TH ASSEMBLY ELECTIONS 2009

NANO TECHNOLOGY

Nanotechnology Business; "The Giant in Dwarfs"
CII and DST will celebrate Indian Nanotechnology Products in near future- T Ramasami Ensure nanotechnology remains valuable for the society, and be an effective media to address the global climatic concern
[New Delhi, 14 April 2009] Confederation of Indian Industry (CII) along with Department of Science & Technology, (DST), Government of India, Gwangju Institute of Science & Technology (GIST) and Tamil Nadu Technology Development Promotion Council has inaugurated the fourth Nanotechnology Conclave 2009, a two-day conference that brings together Nanotechnology experts from across the globe to share their expertise and latest technology advances as well as reflect on the future trends in this field.Nanotechnology with its wide array of applications in the fields of agriculture, textiles, cleaning, housing materials, clean drinking water, etc, has plenty to offer to the business fraternity. A landscape of industry representatives today are talking about creating wealth from the knowledge formed through Nanotechnology. Nanotechnology revenues are estimated to reach $1 Trillion worldwide by 2015. It is often considered as a new revolution, as was the industrial revolution, because nanotechnology manipulates matter at the atomic scale to create new applications in materials, medicine, robotics, electronics and energy.The fastest growing segments of the market are scanning probe microscopes, with a CAGR of 19.4% between 2007 and 2012, and charged particle microscopes with a CAGR from 2007 to 2012 of 9.0%. Optical microscopes are projected to have the lowest growth rate of any major market segment (5.6% CAGR). As a result, charged particle microscopes, which have the largest market share of any product segment, are projected to increase their market share further, from 52% in 2006 to 52.1% in 2012. Optical microscopes are projected to lose market share, from 26.2% in 2006 to 21.9% in 2012. In 2006, semiconductor manufacturing was the dominant end-user market for microscopes, with 31% of the total market, followed by life sciences (27%) and materials (24%), and nanotechnology (10%). Nanotechnology and semiconductor manufacturing are the fastest-growing end-user markets with CAGRs of 19.4% and 10.2% respectively. Speaking at the Inaugural session, Dr. T Ramasami, Chairman, TNTDPC Governing Body & Secretary to Government, Department of Science and Technology, Government of India, stated that a lot of efforts are being taken by the Research Community, Academia and Industry, but much of these are not collaborative. He challenged we need to stop working in silos and work together towards effectively translating knowledge generation into wealth generation. Reinstating the huge opportunities created by Department of Science and Technology's NanoMission through which almost Rs 1000 crores is planned to be released over a period of 5 years, he invited the Industry to come forward and take advantage of this opportunity, and evolve more Public-Private-Partnership mode businesses in Nanotechnology. He also challenged the various R&D efforts in Nanotechnology to focus on providing solutions to various social problems. He said that CII has to play an important role in bringing the nanotechnology products to market by working with various stakeholders. He said that CII and DST will join hands together to celebrate Indian Nanotechnology Product in the near future.Dr. V. Rao Aiyagari, Mission Director (Nano Mission) & Head - Science and Engineering Research Council, DST, Government of India said that since 2001, total investments made in Nanotechnology by DST have been $144 million. The eleventh five year plan has dedicated investments worth US$ 200 million for the technology. The department has setup 11 centres of excellence and proposed three institutes on Nanotechnology in Mohali, Bangalore and Kolkata. Dr. Dipankar Banerjee, Chief Controller, R&D (AMS), & Distinguished Scientist, DRDO, Ministry of Defence, Government of India, New Delhi stated that India is positioned on the strategic map for Nano products as Indian investments in the technology match that of Ireland, Canada and Switzerland. Mr. Ajai Chowdhry, Chairman, CII National Committee on Technology & Chairman & CEO, HCL Infosystems Ltd, stated that Nanotechnology is already being applied in industrial applications, production technology, pharmaceuticals, healthcare, agriculture, transportation and electronics among others. It is yet to come of age, and presents huge scope for business. Market for Nanotechnology is anticipated to grow at a CAGR of 33% between 2008 and 2015. In the welcome remarks, Dr. M Vidyasagar, Chairman, Nanotechnology Conclave 2009 & Executive Vice President, TATA Consultancy Services, listed Nanotechnology amongst the genre of Information Technology and Biotechnology. He believes that Nanotechnology is going to be an important activity for future. His opined that as Nanotechnology needs capital, it is yet to make much impact on business prepositions. He remained optimistic about India forging an effective identity for Nanotechnology products, given proactive initiatives taken by the Government and industry. Prof. Kurt E. Geckeler, Chair, Department of Nanosystems Engineering (DNE) Gwangju Institute of Science and Technology (GIST) suggested that Nano materials have become the driving force for the world, despite the ongoing downturn. Industry must maintain a constant dialogue with science and engineering fraternity, to keep up with leading performance in this field. Summing up the Inaugural session, Mr. Anjan Das, Sr. Director & Head - Technology & IPR, CII said that CII, along with DST will look forward to celebrating Industry-Academia joint research in the future Nanotechnology Conclaves. He stressed on the serious need for shaping innovative PPP business models in Nanotechnology, as hinted by Dr. Vidyasagar, Chairman, Nanotechnology Conclave 2009 & Executive Vice President, TATA Consultancy Services.

INSPIRING QUOTES

A quote says:

"Life is not about waiting for the storms to pass...
it's about learning to dance in the rain!"

Another quote from Sarah Breathnack ...

"When we choose not to focus on what is missing from our lives but are grateful for the abundance that's present....we experience heaven on earth."

Tuesday, April 14, 2009

Resolution will be passed at Sikkim Legislative Assembly for I T exemption- Chamling

RANGPO, April 13: Chief Minister Pawan Chamling today announced that his government will provide 15 percent reservation to Limboo-Tamang communities in government service and in Panchayati Raj.

Addressing a public meeting as part of the party’s election campaign, he said LTs were accorded the Scheduled Tribe status during the SDF regime and that the seat reservation would also be done by the SDF government.

Stressing developing activities as the basis of the party, SDF chief also said that
resolution will be passed at Sikkim Legislative Assembly for exemption of Central Income Tax Act to all the old business communities of Sikkim.

On the developmental front, Mr Chamling said that 10 percent of the total State budget would be used for capacity building programme.

Regarding West Pendam, the SDF chief promised to immediately solve the water problem faced by the residents. The beautification of West Pendam and its sewerage problem may be given priority, he said. He added that the 91 families whose houses were dismantled by the forest department will be given the site and loan in low interest rate.
Talking about development in Rangpo, Mr Chamling said the border town was fully developed as far as economic sector was concerned with a number of industrial units set up in the area. He said that a double lane national Highway and a new alternative road from Sikkim to Siliguri via Chalsa is under process. The Pakyong Airport may be completed within 34 month, the CM added.

Also present were MLA Somnath Poudyal, SDF candidate for West Pendam Constituency Niru Sewa, SDF Lok Sabha candidate PD Rai, youth secretary GM Gurung (Ranpgo), general secretary SK Pradhan, vice-president Dr. DP Kharel and other party leaders, supporters and the general public.

Source: Sikkim Express
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Congress makes poll promises on Income Tax in its manifesto

Congress makes poll promises on Income Tax in its manifesto

Staff Reporter

GANGTOK, April 13: The Sikkim Pradesh Congress Committee (SPCC) has singled out the Income Tax exemption issue as the most prominent agenda of the party in the coming Assembly elections in Sikkim.
“The discrimination made by the Sikkim Democratic Front (SDF) government on the income tax exemption issue to the old business community and non Sikkim subject holders is our chief agenda for the upcoming Assembly elections”, said SPCC president Nar Bahadur Bhandari while releasing the party manifesto today at the party headquarters here in Gangtok.
Mr. Bhandari vowed to return back the Income Tax Act that has been implemented since 2008 in Sikkim. We will restore our old law of Sikkim, the Income Tax Manuel Act of 1948 when we form the Congress government, he said.
The Congress manifesto states that the old laws of Sikkim will be implemented on all communities of Sikkim including the business and government employees as the direct taxes have been implement in an illegal manner in Sikkim by the SDF government.
“The old business community and a section of State government employees have been given Constitutional injustice. The Congress government will give justice”, the manifesto reads.
The Congress party also committed to conduct fresh delimitation in Sikkim to provide reservation to Limboo and Tamang communities and for the Nepali communities in the State Assembly. The manifesto reminds that only Congress party can deliver political rights to the Limboo Tamang communities.
The delimitation will be also conduct to provide justice to the old business community who has been given a raw deal by the 2006 delimitation where the business community dominated areas have been reserved for SC and ST communities.
The Congress party has also committed for declaring a cut off year to prevent influx in Sikkim.
The Congress party has also pledged in the manifesto that it not politicize the Panchayati Raj Institution in Sikkim and added that it will give pension and certificate to the retired Panchayats.
Targeting the youths who form 40 percent of voters in Sikkim, the Congress party promised to provide them employment and priority in all private business sectors including contract works. The Bhoomiputra (sons of soil) policy will be implemented in Sikkim and there will be a government employee in each house in Sikkim, the party promised. The Bhoomiputra policy will be implemented in all the Central establishments, national banks, private companies and industries during the Congress government, the party said.
“We will give direct democracy to Sikkim people. All voters in Sikkim will be entitled to equal share in all the Central and State schemes. We will maintain uniform treatment to all in Sikkim”, said Mr. Bhandari.
‘Bikash Patrika’ (development document) occupies a major portion in the 38 pages Congress manifesto. The Congress party said that it will give the Bikash Patrika to all the BPL families in Sikkim which will provide government largesse and benefits to them at their doorsteps during the Congress government.
Those holding Bikash Patrika will not have to pay electricity bills while those without this document will have to pay power bills at Rs. 2 per unit. Water will be supplied free in all rural areas while only low charges will be there in urban areas, the manifesto promises.
The Congress government will also shut down all lottery shops, discos, casinos and other gambling dens, the manifesto states. The party also promised a monthly starting salary of Rs. 3600 to each labourer while the salary of the workcharged employees will be enhanced to Rs. 6000 besides a grant of Rs. 10,000 after they retire. The Home Guards will get a monthly salary of Rs. 9000 besides getting opportunities in the vacant posts of Sikkim police, the manifesto commits.
Even if a government employee does not get promoted, his or her salary will be increased, Congress said.
Congress candidate for the Lok Sabha seat KN Upreti said that the party has tried its best to include all the aspirations and dreams of the poor people of Sikkim in the party’s election manifesto released today.
“Most of the points mentioned in the manifesto reflects the aspirations of the Sikkimese people and also includes where the SDF government has failed”, said Mr. Upreti.
Chamling announces to provide 15 % reservation to LTs in government service & Panchayati Raj
‘Resolution will be passed in SLA to exempt all business communities from IT’

INDIA AND CHINA BY 2025- US INTELLIGENCE VIEW

Vice President releases the book ‘Challenge and Strategy – Rethinking India’s Foreign Policy
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13:51 IST
The Vice-President of India Shri M. Hamid Ansari released the book titled ‘Challenges and Strategy: Rethinking India’s Foreign Policy’ authored by Shri Rajiv Sikri, former IFS Officer at a function here today. Addressing on the occasion, he said that in a changing world, foreign policy tactics have to remain flexible. The National Intelligence Council of the United States, in its scenario building for 2025, states that in the next ten years China and India are expected to achieve near parity with the US in two different areas: India in scientific and human capital and China in government receptivity to business innovations. We therefore have to be patient and diligent, work our way up, and not be overtly anxious to get there prematurely.

The Vice President opined that most foreign policy analysts seem to overlook domestic factors and constraints. The pace of our progress would also depend on the speed at which we overcome domestic strives that retard our progress. These questions cannot be wished away; to do so successfully, we have to keep in mind and implement the basic principles of the Indian polity.

The book examines India’s current and looming foreign policy challenges from a strategic and policy oriented perspective. It analysis the long term factors and trends that should determine the country’s foreign policy formulation.

Following is the text of the Vice President’s address:

“Ambassador Sikri has written a book that compels introspection. His basic premise is that the world has changed and continues to change. India’s capabilities and capacities have also changed and are changing. This requires rethinking policy objectives and the methodology for attaining these objectives.

Sikri analyses India’s position in the world in terms of an arc of prosperity to the east, an arc of energy to the west, and an arc of instability extending from West to Central and South Asia. Cutting across there are vital sea lanes and communication channels. His suggestion is that India should be a major player in the complex geo-strategic game that is unfolding. He proposes that India ‘must play its role as conscience keeper of the world,’ and do so by ‘looking beyond the West and its troublesome neighbours like Pakistan and China and find its niche in the world.’

In general terms, Ambassador Sikri’s thesis may be optimistic, even idealistic. For one, states are propelled by Machiavellian impulses and cannot be conscience keepers. Professed nobility of sentiments and piety in purpose generally camouflages more mundane objectives. On specifics, however, he does identify lacunae in the approach that seems to have prevailed in the recent past. One example of it is West Asia; another is Central Asia.

An impression seems to have gained ground that West Asia, particularly the Persian Gulf region, is good for certain purposes only. These are (a) energy supplies (b) employment for our nationals (c) a limited amount of off-shore business. The wider strategic aspects of relationship with a region in proximate neighbourhood appear to have been put aside.

A case in point is Gulf security. The present arrangement of competitive security, based on inclusion and exclusion, is inherently unstable and is increasingly being recognised as such. Sikri suggests an ARF-like approach and proposes a Gulf Regional Forum for dialogue on the question.

In December 2005 a GCC foreign minister suggested a three-pronged gulf security framework. The first would be GCC, Yemen, Iraq and Iran as regional pillars; the second would be a unanimous Security Council guarantee for the sovereignty and territorial integrity of all Gulf Countries; the third is to strengthen the international component and necessitate engagement with ‘the emerging Asian powers, especially China and India.’

The proposal hints at an Indian role. This should be premised on our core concerns: (a) stability in the littoral states (b) freedom of navigation in the Persian Gulf and the Strait of Hormuz (c) security of sea lanes (d) availability of an interdiction capacity to safeguard Indian shipping. An essential prerequisite for such an engagement would be more vibrant political relations with all the states of the Persian Gulf littoral.

The book has a number of interesting insights on economic diplomacy and energy security. The chapter on ‘US and Nuclear Issues’ offers on pages 185-188 a perception somewhat at variance with the public picture.

In a changing world, foreign policy tactics have to remain flexible. The National Intelligence Council of the United States, in its scenario building for 2025, states that in the next ten years China and India are expected to achieve near parity with the US in two different areas: India in scientific and human capital and China in government receptivity to business innovations. We therefore have to be patient and diligent, work our way up, and not be overtly anxious to get there prematurely.

One last point. Most foreign policy analysts seem to overlook domestic factors and constraints. The pace of our progress would also depend on the speed at which we overcome domestic strives that retard our progress. These questions cannot be wished away; to do so successfully, we have to keep in mind and implement the basic principles of the Indian polity”.


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