Should India further liberalise FDI rules in sectors with investment caps !!

India introduced financial reforms way back in 1991 with the primary aim of solving the balance of payment crisis. Though the reforms were revolutionary in nature but at the same time the government was hesitant in opening up all the sectors for foreign investors keeping the protest from various sections of the country in mind. As a result these reforms were half hearted and the government relied primarily on the domestic sources for getting out of the crisis.

After 2 decades of the reforms the scene is now changing. A major section of Indian economy is now open for the foreign investors. At the same time there are many sectors where the permissible % of foreign investment is way below the sufficient level. Prominent among these sectors are insurance, retail, private sector banking and defence. Retail which constitutes about 35 % of Indian gdp has the 51% cap for investment in single brand outlet. Similarly in insurance, defence and private sector banking the fdi limit is 26%, 26 % and 49 % respectively.

Obviously, these restrictions have an adverse impact on the level of investments in our country. If we compare India with other developing countries India is way behind them in attracting foreign investment. Last year when the China got the fdi of $90 billion, for India the figure was only $ 30 billion.

According to Anand Sharma, the commerce minister of India, the country aims to attract $ 50 billion of foreign direct investment up to 2012. This ambitious aim can only be realized if India opens the sector like retail, insurance and private banking for foreign investors.

Earlier this year in Indo US CEO forum in Washington, the finance minister told that the government is planning to increase the investment cap in insurance sector from 26 % to 49 %. This is a welcome step .A higher foreign direct investment (FDI) will unshackle the insurance industry and drive growth and long-term development, enrich the business by bringing world-class business practices and processes, expand distribution capabilities and deepen market penetration.

 Similarly the retail sector also has a huge potential in terms of investment .Its potential benefits other than funds are improvement in supply chain, skill development, opportunity for greater sourcing from India, and productivity improvement and growth in market size etc.

These and many other sectors such as private sector banking, defence and civil aviation are in want of huge investment which is only possible by opening the doors for foreign players. These investors will bring not only money with them but will also result in employment generation and skill improvement. Apart from this, it will also results in much needed sophisticated technology, knowledge transfer, linkages and spill over to domestic firms.

In order to maintain and bolster the present rate of growth it is necessary for the government to raise the investment cap in the sectors where permissible level investment is low. This will have a trickledown effect on the other sections of economy and will result in higher rate of growth.

Jayant Yadav

MBA(IB) 2010-12

jayantyad@gmail.com


* This article was published in the Financial Express

INDIA-BANGLADESH RELATIONS: A NEW CHAPTER

Indian Prime Minister concluded his high profile visit to Bangladesh on 7^th September. This was first visit to Bangladesh of any Indian prime minister in the past 12 years. In this meeting both the countries agreed on a range of measures to improve relations between the countries. These measures were of both political and economic in nature. While the long pending border issues were resolved, India also granted concession to Bangladeshi exporters to improve commercial ties. Other issues which were discussed were sharing of River water, Transit facilities to Indian goods through Bangladeshi soil and improvement of cultural ties between both the countries to bring people across the border closer. 

From the commercial point of view, the most important issue discussed between the two countries was reducing the huge Trade Deficit unfavorable to Bangladesh. To meet these objectives, Indian Government has agreed to remove the duty from import of 61 products from Bangladesh, 46 of which are textile products. At present India-Bangladesh Trade is highly skewed in favor of India with India’s net export to Bangladesh being almost 10 times of what India import from it. One of the prime reasons of this trade deficit is the restrictions put forth on Bangladeshi import by Indian Authorities. As many as 480 items feature on the Indian negative list of products for Bangladesh and of those, 154 are related to RMG (Ready Made Garment) sector. Textile industry which is one of the most important industries of Bangladesh from the perspective of International Business and constitutes 75% of total Bangladesh’s exports has greatly suffered from these restrictions. Out of total Bangladesh exports to the world, Textile products (HS CODE: 50 to 63) constitutes more than 85 % in value terms but for India this figure is far below at 40% in 08-09 and 55 % in 09-10. This pact promises to improve the current situation. Exports from Bangladesh to India are expected to increase two to three times the present volume in coming years. In that scenario Bangladesh's annual export to India will cross $1 billion and will help in shifting the balance of trade in favor of Bangladesh.

India and Bangladesh also agreed to the proposal of establishment of 7 Integrated Check Post (ICP) at the India Bangladesh Border. These ICPs are expected to provide the facilities for smooth cross-border movement of persons, goods and transport and would improve the turnaround time of vehicles at the border. They will also address the problem of lack of connectivity faced by Indian North Eastern States, by providing them and easy connectivity to Bangladesh. ICPs will also tackle the issue of illegal cross border trade. Indian states have a long and porous border with Bangladesh which acts as the haven for the smugglers. This not only causes loss in revenue but also hide the true figure of trade between the countries. After the completion of this project not only the local trade between the states and Bangladesh will get a fillip but also the true trade figures can be realized.

In spite of all these measures, still there are some issues that need more efforts from both the sides. The prominent among them are the Teesta River Water Treaty and transit facility to Indian goods through Bangladesh. Of these the latter is of interest to India and Indian authorities expect Bangladesh to finalize the modalities of this agreement as soon as possible. North Eastern states are geographically closer and have better access to Bangladesh. While distance between Agartala and Kolkata (nearest Indian Port) is 1750 k.m., Chittagong (nearest Bangladeshi port) is only 70 k.m away from Agartala. If the region is approached from Chittagong port via Tripura the distance will be considerably reduced.  It will also give a boost to Indian export such as Assam tea and Tripura Rubber from North-Eastern states. This transit facility will not only help Bangladesh in revenue generation but will also help it in improving the infrastructural facility. India has already approved USD 750 million out of the promised USD 1 billion infrastructure loan to Bangladesh to develop rail and road linkage. In future the scope of this transit route can be extended to accelerate commercial activities in whole of South Asia by including Nepal and Bhutan in this broader trade corridor and giving it a transnational face. This will not only promote commercial relations between the countries but will also help India in shedding its Big Brother image. The infrastructure improvement activities in Bangladesh will give a big opportunity to Indian Companies to invest in Bangladesh in development of port, rail and road infrastructure.

Other steps to improve commercial ties include establishment of Special Economic Zone in Bangladesh at Border Areas for Indo-Bangla Joint Venture with a focus on North Eastern states. In the past too CII has shown interest in such a prospect. This SEZ is expected to attract investment worth BDT 1500 Crore (INR 930 Crore). Establishment of “Border Haat” is also a step in right direction. Two countries have opened a “Border Haat” in Meghalaya which along with two others such “Haats” is expected to promote $20 million of bilateral trade annually. This will not only curb the massive illegal trade which goes in this region but will also help in bringing the population of the  two countries residing in Border Area together.

However there are few cautions in this journey. Duty free access for textile products from Bangladesh will adversely hit the domestic Garment industry. One of the steps that can be taken by the government to balance the macro-impact on Indian economy is a pre-condition for the duty-free import that the origin of fabric for these textile products should be in India. This will incentivize the Bangladeshi exporter to give preference to Indian raw products over other sources. Illegal immigration from Bangladesh, Illegal Cross Border Trade and anti-Indian activities in Bangladesh are other Indian concerns. After these Confidence-Building-Measures from Indian side the onus is on the Bangladesh to reciprocate to Indian concessions by addressing these crucial issues.

A peaceful neighbourhood will help India to focus on its economic development and will accelerate the economic growth of whole of South Asia. Hence India- Bangladesh relations are important not only for these two countries but for whole of South Asia. Apart from creating a model for future bilateral agreements in this region, this summit will also help India in shedding its image of regional bully.

Uttarakhand Trekking Experience-4

Continued From:


Day 3:


Date: 20th June
Time: About 5 a.m. in the morning
Location: A hotel in Govindghat.


For the second consecutive day, we started our journey early in the morning. This day was special to us in many aspects. From now onward we were on foot. This day also marked the start of mountain trekking, the flagship feature of our trip. We were to spend next few days on mountains without any connection with the outer world.

At the bridge

The route to Ghanghariya starts after crossing the bridge over Alaknanda. Early in the morning, the view near the bridge was amazing. Hundreds of people were standing near the Gurudwara to cross the bridge notwithstanding the rain which was drizzling from the sky. It was still dark but the vibrant atmosphere at the bridge was defying all the odds. We planned to start early but right from the beginning all our plans fall apart. Before commencing our trekking we needed three essential things- Raincoats, Sticks and Mule to carry our luggage. Unfortunately we were unable to arrange for any of them.

More than an hour passed and we didn’t make any progress. We managed to arrange for sticks but the raincoats and Mule was still out of reach. After some time “Tourist Help Center” opened and we took the raincoats on rent. The quality of the raincoats was far better than the ones which were available in the market. Mule to carry our luggage to the destination was still elusive. Finally we decided to go across the bridge to look for Mule carriers. We managed to talk to a couple of Carriers but all of them had one condition-One person among us should accompany them to Ghanghariya, to this none of us agreed. Finally one Mule Carrier agreed to take our luggage on the condition that he will take his own route and will reach Ghanghariya at his own time. Seeing no other option we agreed to him, knowing little that this will lead to some other crazy incident in the evening.

Finally our trekking started and we marched toward Ghanghariya. Soon our group split into two subgroups. I, Parag, Arjun and Arpit were walking at our pace while Abhinav, Dixit and Pelu were coming behind us. Rain stopped, Sunlight appeared, weather improved and we continued our journey. 

Our fellow traveler

For the first time in our trip we witnessed mountains from such a close distance. A big wall of stone on one side and a thousand feet deep valley on the other was enough to prod us for the journey. Early in the morning we even witnessed the trace of the clouds from close vicinity. The road to Ghanghariya was busy with fellow travelers. Incidentally we were the only group on the path without any Sikh member. The road was populated not only by humans but also by horses which were crossing us at regular intervals. Soon we found a beautiful water-fall along the side of the road. Here we relaxed and clicked some photos. The journey continued with breaks at regular intervals. The whole path was crowded by dhabas which were selling food items at a premium. As the altitude increased, the prices of the food stuff also increased.  By the end of the journey our fatigue and tiredness was at its optimal level. Normal food stuff was not helping any more. To our comfort we found a langar being managed by the volunteers, which was distributing dry fruits and drinks. 

Legendary pic

When we were close to our destination we asked a person to take a group photo of us. While taking the snap he walked few steps back to accommodate all of us and the beautiful scenery behind us in the photo. Suddenly he lost the control and fall on the other side of the road. The scene was funny. He was lying among the plants with his pant torn in a 3 to 4 feet deep pit. We were laughing at the scene and he also joined us in the laugh. He got up, brushed himself and took our snap.

Our 13 k.m. long trekking ended at a Police Chowky which is a sort of landmark in that area. We found our luggage lying there in a dumped state. All of us checked our luggage and I found that my bag has been exchanged with some other bag. Its implications were that all my clothes, blankets and most importantly money has also gone with that bag. The situation was serious not only for me but also for the whole group because it was now my turn to pay the money for our expenses. Hundreds of travellers have crossed that path every hour since morning. Searching for a bag in the thousands of tourists over there was like looking for a needle in a haystack. To make the situation worse the mule owner who brought the luggage here was also missing. I went to Gurudwara and asked the Granthi to make an announcement about a blue bag being exchanged. He asked me to deposit the bag I have at Gurudwara. While at Gurudwara I looked for the bag among hundreds of pilgrims who were staying over there but the chances of locating a small bag among hundreds similar were very remote.

While I was coming back to our base from the Gurudwara, I was looking at the restaurants and dhabas with the hope of finding a clue about my bag and BINGO!!! There was it, lying near a chair, in a dhaba, with a lady. I went to her and said in a polite tone, “Mata Ji, Ye Bag…” and she started in a full Punjabi tone, “Oye Badal Gaya, Oye Badal Gaya”. And here it was, my bag, my and ours group Lifeline for the rest of the tour.

View from the room

We went ahead, looked for the rooms in the hotel, even contemplated about staying in the Gurudwara and finally booked the room at a whopping Rs.4000 for a day. I don’t think any other place in India commands such a high premium. Even a STD call was charged at Rs.20 per minute.

The room was damp, dark and dingy. The only savior was the view that the room provided-beautiful, sky kissing mountains. That was all for the day. Next day we had to visit, “VALLEY OF FLOWERS”.

Our Route (From A to B)

                                                                       To be continued:

Uttarakhand Trekking Experience-3

Continued  from:

Day 2:

Time: About 5 a.m. in the morning.

Date: 19th June.

Location: A Hotel in Rishikesh.

Our day started early in the morning at 5:00 a.m. The room had visible signs that it had witnessed a storm last night which all of us missed because of our deep slumber. After a frenetic packing we all rushed to the Rishikesh Bus Stand where we had to catch the bus for Govindghat. 

The bus was of medium size, having 2 seats on each side. Since we were 7 in number, 1 of us had to sit alone throughout the journey. Unfortunately it was my turn to share the seat with some unknown person. Surprisingly there was huge no. of Bengalis who boarded the bus at Rishikesh Bus Stand. They were headed to the famous Hindu pilgrimage Badrinath/Kedarnath. After a small period in the dark, Sun came out in the hills. The journey was fun, the weather was pleasant and the view from the bus was awesome.

View from the Bus

After a couple of hours, the bus halted near some dhabas where we had a cup of tea. The next stop of the Bus was at another scenic location where we had our breakfast/lunch. From there the bus headed to Joshimath which was the next major stop. The view of the surroundings from the bus was one of the best parts of this trip. Though all of us were seated for most of the period, the scenes which emerged one after another compensated for the same. Throughout the path we witnessed mountainous terrain, deep valley, tree laden hills and full flowing river. Though there were some hiccups in the journey because of road jam but the scenery we witnessed throughout the path was awesome enough to compensate it. Unfortunately not everyone in the bus was enjoying the journey. Our fellow passengers from West Bengal (now Pashchim Bang) who were neither used to the mountains nor to the Bus Ride at such a height developed motion sickness and had an altercation with the conductor of the bus. The bus reached Joshimath near about 3:00 p.m. in the afternoon.

Joshimath has a unique Traffic Control System which is being managed in coordination with the traffic authority at Badrinath.The road from Joshimath to Badrinath is very narrow and can accommodate only one vehicle at a time. To ensure smooth and risk free travel, two gates are installed one each at Joshimath and at Badrinath which operate alternately. When we reached Joshimath the gates were closed and we had to wait for almost an hour for the journey to resume. Govindghat, our destination for that day was only 45 km away from Joshimath.

After a short while the journey resumed and we headed to Govindghat. We were the only group to get down from the bus at Govindghat and rest of the passengers headed to Badrinath/Kedarnath. Govindghat is used by most of the passengers as a base camp for Ghangariya. Though there are many hotels and lodges in that area but initially we had to toil a little in finding the suitable one. After a brief search we found a hotel with appropriate location. Since we were on the cost cutting mode we booked a single room for all 7 of us.

It was almost 7 in the evening and the sun had set down. The area was heavily crowded by the Sikh pilgrims. There was a market over there which is situated in two narrow lanes. Beyond the lanes there was a Gurudwara which plays host to hundreds of pilgrims every day. After roaming in the streets for a short while we went to the bridge which is built across the river Alaknanda. There was huge rush near the Gurudwara and the bridge. The river was flowing at full vigor and the scene was enthralling. The flow of the river was accompanied by the roaring sound which added a special effect to the whole scene. This was the same bridge which we had to cross the next morning. After making few enquiries regarding the next day’s journey we returned back to our hotel.

On our way to hotel we had our dinner and then went to the bed planning to wake up early tomorrow. The next day was supposed to be the most adventurous day of our journey till now.

OUR PATH

                                                                                                                   To be continued ...

“String of Pearls” in Indian Ocean

Indian Ocean has played a vital role in international trade since antiquity. Right from Roman period to Portuguese period this route has been used by various empires to establish trade relations with India and other countries in this region. In current scenario its role has become more even more prominent as half of the world’s maritime trade is shipped through the Indian Ocean. This route connects the Middle East, Africa and East Asia with Europe and America. A very heavy traffic of petroleum and petroleum products from the oil fields of Persian Gulf and Indonesia passes through it. Apart from being a lifeline to international trade this region is also important for offshore oil exploration to which it contributes 40% of the world production.
India and China being two of the most fast developing economy in the world, has vested interest in this trade route. China imports almost 80% of its oil need most of which passes through this region.  This makes the route strategically very critical for China. To ensure its energy security in future, it plans to either secure this route or to find an alternative route.
Similarly for India, this region and route is a natural concern, as it lies in its own backyard.40% of Indian trade with the littoral countries takes place through this route. . The geographical advantage enjoyed by India makes it an obvious naval power in Indian Ocean.
Observing its vulnerability to any hostile Indian action in Indian Ocean, in war or war like situation, China is aggressively planning to increase its naval presence in the region. China has made various naval pacts with countries like Pakistan, Bangladesh, Sri Lanka and Myanmar to maintain regular presence of Chinese naval fleet in Indian Ocean. These pacts include Joint port construction, port enlargement and maintenance etc. Booz Allen Hamilton, an American Public consulting firm, termed this strategy of encircling India as “String of Pearls”.
The “String of Pearls” is a process of methodically establishing a series of highly powerful and interconnected nodes throughout a landscape which accomplish two things:
1) Solidify a critical supply line.
2) Envelop or “choke off” a rival.”
China has naval presence in Gwadar Port in Pakistan, Hambantota Port in Sri Lanka, Coco islands in Myanmar and Chittagong Port in Bangladesh in various capacities. This involvement has both economic as well as strategic dimension. The “String of Pearl” goes further to South East Asian countries like Thailand, Cambodia and Vietnam which shows elaborate Chinese plans of having hegemony on this crucial trade route.
But it will be too early to say that China has established itself as a regional naval super power. Geographical constraints play a big role in this region. In spite of heavy investment and involvement, China has to depend upon the local players to implement its naval strategy. Chinese ports in these countries are as safe as these countries themselves and there is little China can do in this regard. For e.g. Gwadar Port in Pakistan is situated in Baluchistan province where the local sentiments run against the Federal Government and National Army which is dominated by the Punjabis. In 2004, three Chinese engineers were murdered in Gwadar, and in 2007, a bus carrying Chinese engineers was bombed in the southern town of Hub. Ground realities also reflect the same story. Having become operational shortly after the Chinese completed the first phase of development in 2007, the port only received its first commercial cargo ship almost two years later, in July 2009. Similarly Sri Lanka recently recovered from the internal war in which it was indirectly supported by the Indian Government.
Bangladesh also has a Pro -Indian Government headed by Sheikh Hasina Wajed. Finally Myanmar an otherwise close country is playing its cards tactfully. It has developed good relations with both the countries in return of support to its dictatorial Junta regime.
India has cautiously responded to all these developments. At present India have good relations with almost all of its neighbours except Pakistan. The geostrategic advantage enjoyed by India in this region is too big to be nullified by temporary Chinese bases in the Ocean. Moreover, Andaman Nicobar Island provides strategic depth to Indian naval capabilities in the region through which India is in the position of striking deep in the Ocean. India has bolstered its “Look East” Policy to counter China’s activities in this region. It has established strong commercial, cultural and military ties with the Philippines, Singapore, Vietnam and Cambodia. It has also signed free trade agreements with Sri Lanka and Thailand and forged numerous free trade agreements with other East Asian economies. It is also negotiating agreements with Japan, South Korea, and Association of Southeast Asian Nations (ASEAN) member states. South Korea and Japan remain amongst the major sources of foreign investment in India. India is also aiming to breathe fresh life into Indian Ocean Rim Association for Regional Cooperation (IOR-ARC), a grouping of 18 members Indian Ocean nations for greater economic cooperation.
The actions and counter actions by both the countries imply that Indian Ocean will remain a crucial region from geostrategic point of view. As its act as the pipeline of Petroleum products to the world, all these activities concerns not only the regional players but whole world at large. China is trying its best to encircle India but India is also fully prepared to counter these actions. This region will continue to hog the limelight in coming decades.

Jayant Yadav
MBA(IB)
Indian Institute of Foreign Trade- Delhi Batch 10-12

(This article was published in the August edition of "Vishvyapar"-The IB Magazine of "Delhi School of Economics" )

Uttarakhand Trekking Experience-2

Continued From :

Day 1:
Time: Between 6 a.m. and 7a.m. in morning.

Date: 18^th June.

Location: Haridwar Bus Stand.

Our day started at the Haridwar Bus Stand. From there we had to reach Rishikesh, where we planned to spend the rest of our day. After few minutes we boarded a bus for Rishikesh.

Among a vast population, Rishikesh is famous for its religious places but few knows, that of late it has also gained reputation for adventure sports like White Water Rafting and Rock Climbing. We were here for the former. There are two tracks for rafting in Rishikesh. One is 16 km long while the other one is 9 km long. The longer route was closed because a few days ago, couple of people lost their lives in an accident hence we had to use the shorter route for our rafting. We also thought about spending the night in the camp but our schedule on the next day did not give us that liberty. While me, Arpit and Dixit went to arrange for rafting, other 4 booked the hotel for our night stay.

Our rafting started later in the day.  While waiting for the boat to arrive, we spent some fun filled time at the bank of River Ganga. Earlier, three among us went to the bank while others including waited for them. Later we also followed them. The water in the river was ice cold but even that was not able to subdue our spirits. There we relived our childhood days, splashing water on each other, taking the dip in the river and trying fake swimming. Suddenly Parag met with a minor accident. He unknowingly stepped ahead into the river and found himself in the high waves of water. Unable to control himself, he slipped down and hurt his knee. Actually the bank of the river consists of the downward steps whose depth increases dangerously as we move ahead in the river. The muddy water of the river did not help the situation either. The only relief for us was that the injury was not serious.

 After spending few hours at the bank we headed to the rafting spot. That place was 9 km upstream the river Ganga. The coordinator asked us that whether any one of us have prior experience in rafting to which I responded positively and hence was allotted the front seat (I did the camping at Rishikesh last year. Details can be found here). And for the next 3 hours we were on a fun filled, adventurous and chilling journey.

Our White water rafting or just Rafting started from somewhere near Brahampuri and ended at Rishikesh near Laxman Jhula. It was thrilling, heroic, adventurous, risky, charging, chilling, gelid, quivering and what not. We faced total 3 rapids (a section of a river where the river bed has a relatively steep gradient causing an increase in after velocity and turbulence.) in our path. A rapid means high risk and obviously higher fun and thrill.  Our rafting itinerary also included cliff jumping where I was hesitant to go, due to my previous experience but according to other members of the group, they enjoyed a lot.

 An interesting incident took place at the cliff jumping site. One of our group members who have recently started smoking was looking for his wallet in the boat. (There is a water proof bag in every boat where one can keep his valuables during rafting). When he opened the bag he found a pack full of cigarette and a lighter which belonged to another group that was also rafting on the same boat. To avoid the trouble of taking money from the wallet and then keeping it back later, he decided to use the cigarettes of the other group. Without knowing that anyone is seeing him he smoked a puff from the pack. Suddenly Apoorv patted him on his back, revealing that he has caught him stealing the cigarettes from the pack. Though the heart of the smoker was as clear as the water at that spot, he thought it would be prudent to bury the matter there only. 

 Later we even jumped from the boat into the ice cold water (obviously with a Life Jacket) and had some fun filled moment while we were flowing along the current of the river. Strangely the coordinator of our group who arranged the whole trip, Apoorv Dixit himself didn’t jump in the water. We thought he is hydrophobic. Later in the trip we realized that he is also an acrophobic and nymphomaniac.

Finally the Rafting ended near Laxman Jhula and all of us were looking for some tea. Normally it would not have meant much but at that moment it was one of the most important commodities for us. Our next destination was Choti Wala Restaurant. Considered as one of the landmark place of Rishikesh, I have few blurring memories of this restaurant from my childhood when I came here way back in 1993-94. The restaurant which today resembles any of the high profile Food Joint of South Delhi was more like a Dhaba 

almost 15 years ago. Similarly the Chotiwala Pundit who in a sense personifies the restaurant has undergone a massive image makeover in past decade. The food was undoubtedly delicious which justified our decision of coming here.

After spending some time in the market we returned to our hotel in Haridwar. While some of us went to book the seats in the bus for our journey next day, I with rest of the others remained in our rooms. Parag had got almost 100 miss calls on his mobile from his home and friends who were concerned about his well being. I was just amused about by this incident, completely unaware that a similar incident was waiting for me in the coming days. We were dead tired and went immediately to sleep. However this fatigue was just a glimpse of the hard days we were about to face in the coming days. We didn’t have the luxury of waking late in the night as the next day we had to catch the bus early in the morning. 

Our Route

To be continued...

Uttarakhand Trekking Experience-1

Some time in the month of  May:

 Location :Kolkata.

Arjun Bhagat: We are planning to visit Valley of Flowers in June. You can also join us.

Me: Ya, sure.

And unknowingly I said yes to one of the most exciting trip of my life.

Day 0:
Time: Between 2 and 3 in afternoon.

Date: 17^th June.

Before leaving

Location: Yusuf Sarai.

We all started packing our stuff as we had to shift to the hostel in the campus. Our group included Arjun Bhagat, Apoorv Dixit, Arpit Gupta, Parag Rout, Abhinav Varsheney, Abhishek BV (Pelu) and yours truly. We were running short of time because on the same day we had to start our trip to Uttarakhand. Our swiftness in shifting the luggage came in handy later as it started raining when we were about to leave the hostel in the evening.

I, Apoorv and Arpit left early so that we can book the ticket at ISBT. After several negotiations and renegotiation we booked the bus ticket to Haridwar at INR 500.  Incidentally the same ticket was earlier offered to us at INR 400 but we rejected the offer looking for the better options. Any ways, rest of the gang arrived and we had the dinner at the bus stand. The bus which was supposed to depart at 10 p.m. arrived an hour late. I quickly felt asleep while others had some problem with the AC of the bus.

Next morning when we woke up, we were at Haridwar.

Our trek

                                                                                                                                         

                                                                                                                                         To be continued...

Picture blog on Osama's death

 Osama's death has given birth to many jokes on the internet.

Here I have collected a few and presented them in the form of pictures.

Enjoy..

 

 

Zardari - Obama conversation

Obama to Prince Charles 

  

Plight of Osama

Arundhati Roy

Dogvijay Singh

HOW I LOST AND FOUND MY LAPTOP ?

8th February 2011
7:00 PM. The election process for the post of the coordinator of the Koshish club started.

9:00 PM. The result was out. I along with Jasmeet Kaur Grover and Amit Gupta was elected as the coordinator of Koshish Club.

9:20 PM. All the formalities and congratulation stuff happened. According to the established tradition of the college, we headed to Sitaram Bhartia to give a party to IMF, . Our group included Alageshan Muduliar and Dayanand from the senior batch.

10:00 PM. Formal meeting with IMF in room 201 took place. Alum Coordinator Mr.Anil Kolla was missing.

10:45 PM. We (IMF -barring Anil, Alageshan, Dayanand and Amit Gupta) headed to SAKET for dinner.

11:00 PM. Reached SAKET. We went to SBARRO restaurant for Pizzas where we were visited by Ravishekhar and Maitreyee from senior batch.

12:00 AM. We left the SBARRO restaurant. It was the time for the restaurant to close. There was only one employee in the restaurant. In the street we found entire Senior and Junior Placecom members. We decided to go Mac Donald Restaurant which was across the street. Since there were 20 of us, we went to upper floor which was almost empty by that time.

9th February 2011.

1:00 AM. We finished our meals. At that point I realized that I was not having my laptop bag with me. I started searching for it frantically. I inquired the staff at the restaurant but did not get any clue about the bag.

1:15 AM. I and others went to SBARRO restaurant but it was closed by that time. We tried to call the staff but the contact number was not available nor did the guard had any information about the owner. I returned to the hostel without any hope of finding the laptop. I concluded that some other customer took the advantage of me being in the group and took my bag with him.

3:00 AM. Still there were no sleep in the eyes. I was not able to come with terms that I have lost the Laptop worth Rs. 37, 000 which I purchased only 6 months before.

8:00 AM. Briefed Nandan about the situation and told him about the urgency of rushing to the spot.

8:30 AM. We reached Mac D and inquired the staff. They denied having any information about it. Went to SBARRO and found the same employee who was there last night but he also denied having any information about the Bag and the LAPTOP. We went back to the college to attend classes.

2:00 PM. We had lunch and planned to go to Police station to register the FIR about the Laptop theft.

2:30 PM. We reached the Police station which was hardly 100 meters away from the spot but the staff refused to register the complaint and told me to go to another police station which was 4 km away.

3:00 PM. After passing through many streets and battling through the traffic which was at its peak because of the school buses we reached the Saket Police Station.

3:15 PM. We talked to the staff at the station. A hardcore Haryanvi lady and a sub-inspector were busy registering frivolous complains which can only be termed as ridiculous at its best (A person was registering complain about phone call on which he was abused by another person on the other side). I explained the situation to the Sub Inspector and asked him the procedure to register the FIR. He told me to bring the receipt of the laptop along with the application.

3:30 PM. I went back to Yusuf Saray Hostel via Metro Train and returned back with 5 copies of the receipt.

4:00 PM. Wrote two applications, of which one was submitted to the SHO of the Saket Police Station along with the receipts. I explained the situation to SHO that the CCTV footage can’t be accessed without the orders from the police. He told me to go to the restaurant and to ask the manager to keep the footage safe so that matter can be looked into later.

4:30 PM. Reached the MAC DONALD Restaurant and showed the copy of the complaint to the manager. He told me to bring the police personnel along with me to see the footage. We tried our best to convince him to show us the CCTV footage but he didn’t responded.

5:00 PM. The manager didn’t yield. We guessed that he is seeing the footage himself and ascertaining that his staff is not involved.

5:30 PM. Manager told me that he has seen the footage and the laptop was with me when I left the restaurant. I told him that he is mistaking me for our General Secretary Rohit Sharma. Manager again said that he cannot show me the video as it is against the company’s policy.

6:00 PM. We kept doing our efforts and ultimately the manager yielded. He called me in the room, downstairs and showed me the footage. In the footage I saw that Laptop was not their when I leaved the restaurant and more surprisingly “it was not there on my shoulder when I entered the restaurant”.

6:15 PM. We thanked the staff and reached the SBARRO
number of their technical head and asked me to come tomorrow to see the CCTV footage.

7:00 PM. We reached the college and attended the IMF meeting. By this time I had left any hope of getting my laptop back and was thinking about possible means of buying another one. I talked to my friends in TCS about the availability of a second hand laptop and off course some udhaar to fund the laptop.

10th February 2011

10:30 AM. I tried to call the technical head whose mobile number I took a day before but the call didn’t happened. Finally called the restaurant and asked the manager about another number. I got a pleasant surprise. “They had found my laptop and asked me to come to the restaurant to take it.”

10:45 AM. I along with Nandan reached the restaurant and found the bag in the same condition and more importantly with the same content. The manager apologized at his part and told me that the employee who had left the restaurant early in the morning kept the laptop in the store and did not informed other employees. When the employee returned in the night he told the whole story. (Though, I sensed something fishy in their version.)

11:15 AM. We thanked the management at MAC DONALD Restaurant for their cooperation and returned to the college. Though I wanted to spend some more time over there but Nandan had to attend the FM class in the college.

ALL'S WELL THAT ENDS WELL.