NEWS

Issue 170 | February 2013 MICA(P) 074/04/2012

Finance Minister Chidambaram Woos India’s Finance Minister, Mr. P Chidambaram, visited on Investors in Singapore 23rd January 2013 as an important port of call to reinforce India’s standing as a key investment destination.

In the morning, Finance Minister Chidambaram addressed a large gathering of institutional investors and corporates from Singapore and spoke on a wide range of issues concerning the economy- the event was hosted by the Development Bank of Singapore (DBS) and Bank of America (ML). Later in the day, he had scheduled one- on- one interaction with large funds and corporates and with the business media.

In his interactions, the FM underlined the efforts of the Government to put the economy on a faster growth track in Mr. Chidambaram addressing a gathering of investors at DBS Bank in Singapore

Rhythms INS Sudarshini Republic Day in Itimad-ud- of Manipur docks in pictures Daulah’s Tomb 04 enthralls crowds 05 Singapore 06 11

A monthly newsletter by the indian High Commission, Singapore Panelists at the conference an environment which has seen growth there would be no downgrade to India’s Ahead of the monetary policy review on rates drop globally. He dwelled on the ratings. He said that he thinks that the January 29, he said that the Reserve measures that have been initiated to agencies are more reassured today than Bank of India accords priority to the need contain the level of fiscal deficit, “We they were four to five months ago. The to control inflationary pressures and that have laid down the fiscal consolidation FM said, “The most negative comment both the Ministry of Finance and the path and I have made it absolutely clear I heard is that India faces a one in three Central Bank work closely on issues. that these are thick red lines that will not chance of a downgrade in 18-24 months. be crossed. This year we will stay below That was said four or five months ago. Mr. Chidambaram said a gap was usually 5.3%, next year it will be below 4.8% and Since then we have taken a number of seen between planned and actual so on & so forth until we reach 3% in steps... They should now say there is expenditure in the infrastructure sector, 2016-2017.” one in five chance of a downgrade in 24 but the government was trying to address to 36 months.” the issues through measures such as When questioned upon the difficult task setting up of the Cabinet Committee on of achieving the deficit target, FM said Mr. Chidambaram said there were a lot Investments (CCI) and takeout financing that “The gross tax revenues except in 2 of “other candidates in the world” whose by Infrastructure Debt Funds. CCI will years have over the last 10 years grown fiscal position was worse than India’s, take up projects in oil exploration in its on an average by 17-19%. Some years plus India was still growing at 5.7 percent first meeting later this month, followed by it has grown by even more than 20%. with only “four or five other countries coal and other minerals. He reaffirmed So we assume that gross tax revenues growing at a faster pace.” “We also have his determination to encourage capital will grow by 17-19%. We have non - tax healthy forex reserves expenditures and revenues, we have cracked the whip at $300 billion and a indicated that public on our public sector enterprises & told high savings ratio of ... we have restarted sector companies them to invest their huge piles of cash, 32 percent of the GDP the cycle of which don’t meet otherwise they will lose it.” He further … we certainly don’t investments ... their investment said that the government is controlling deserve a downgrade,” target by March spending, “… we have crept back he said. would be asked on expenditure for the current year, to return the surplus money as to the cut backs have been notified to the When asked whether elections Government as the majority stakeholder ministries concerned; we are determined scheduled for 2014 could force a as a special dividend. to work together and remain within the “populist budget” next month and revised limits.” lead to a pause in economic reforms, The Government, he indicated, was also Chidambaram said: “The elections are counting on potentially huge savings with Reacting to concerns over potential 14 months away and budgets are not the introduction of the Direct Benefits downgrades to India’s Sovereign Credit drawn keeping elections in mind. It will Transfer scheme (DBTS). The DBTS ratings, he said that the Government be a responsible budget.” He stated that is expected to reduce leakages from was actively engaging with the rating unstable governments pose the biggest the subsidies being made available to agencies and to reflect the country’s threat to the reforms, but the current beneficiaries who are in need of such favourable long-term growth prospects, government is stable and is talking to the assistance. He stated that the pilot deep capital markets, and high foreign opposition on various reform bills in the projects under the DBTS have already exchange reserves- he was hopeful that financial sector. indicated savings of 20-60% in the

2 india news February 2013 india news February 2013 amount of subsidies needed.

Speaking on the Land Acquisition Bill, he indicated that it may well be that after the Bill becomes an act, the cost element on account of land may go up for businesses but he expected many of the problems relating to acquisition of land for industry or other infrastructure to be resolved after this bill is passed.

On the revenue side, the government is also expecting the disinvestment target of Rs 30,000 Crore will be met. NTPC is the next company to hit the markets and can raise around $2 billion, said Mr. Chidambaram. Mr. Chidambaram addresses audience questions

He gave timelines for some key enlarged the room for foreign investors in specifically mentioned that these reforms legislative reforms. He was hopeful that government securities & other securities. have been introduced after “a very wide the Insurance Bill and the Pension Bill consultative process” and that in no way would be passed in the Budget session On the prospects of multinational it will harm the local businesses, in fact of Parliament. The finance minister corporations coming to India, taking in certain cases it has strengthened the admitted that the Goods & Services Tax over the retail sector and driving the small retailers. (GST) was unlikely to be implemented small companies out of business, the by April 2013, but the legislation might finance minister categorically stated He also spoke on Ikea’s entry into be introduced in the Monsoon session that the introduction of FDI in multi India and mentioned that FIPB (around August) and passed it in the brand retail will not be detrimental to (Foreign Investment Promotion Board) winter session (December). the small retailers. He said that “… has recently approved Ikea’s huge big business, big business houses are investment and hopes that “…more and He mentioned that “we have restarted allowed in multi brand retail in India more people apply especially in retailing the cycle of investments, public sector today, the only change we’ve made is farm produce, fruits, vegetables. These investments have picked up.… private that FDI can come to that business. Big are the ones that will give a better price sectors are dusting off their projects businesses have tie-ups, can access to the farmer, producers and give a which had been shelved & willing to technology, access systems, can hire better deal to the consumers.” revive them.” A cabinet committee in foreign managers, it is only the equity, investments will oversee major projects FDI can come in the form of equity. Speaking later in the evening an where the investments are over USD Everything that multinational retailer interview with a business media 200 million. The government has taken has to offer can be bought or hired by correspondent Mr. Chidambaram a number of steps by way of introducing the Indian business houses & they have stated,”I’m satisfied that we have FDI in aviation, FDI in power exchanges, not driven out the small retailer. It has conveyed the message that we mean FDI in multi brand retail, introduced not happened in China, United States business.” some reforms in capital market and or any other country that I know off.” He

india news February 2013 india news February 2013 3 Rhythms of Manipur in Singapore

The Rhythms of Manipur, a fusion second performance was at the Global to Singapore, during the show. musical troupe based in Imphal, in the Indian International School, Queenstown north-eastern Indian state of Manipur put Campus where hundreds of students Founded in 1885, the group specializes up two shows in Singapore on February were thrilled at unique beats of drums. in traditional Manipuri dance and music 5 & 6, 2013. The event sponsored by the and have been touring and performing Indian Council for Cultural Relations, was The band used traditional Manipuri across India since then. They had also held in conjunction with the visit of the musical instruments, Indian classical done musical scores for various ballets, sailing ship INS Sudarshini to Singapore instruments and the violin and its plays and films. Their fusion musical as part of commemorative celebrations compositions were a fusion of traditional piece produced by the Doordarshan, of 20 years of partnership between India tunes as well as more contemporary Imphal was adjudged as the Best and ASEAN countries. beats. One composition that the band Entry in the Music Category in the 10th performed was a medley of the folk National Doordarshan Annual Award The venue for the performance on 5th music of four north-eastern states of 2009-2010. The Rhythms of Manipur February was the Greek Auditorium at India - Manipur, Arunachal Pradesh, has been supported by the Ministry of the Singapore Flyer, the world’s largest Nagaland and Assam. The troupe also Culture, Government of India, since giant observation wheel, where they presented a small memento to Dr. 1994. performed six musical scores. The Raghavan, High Commissioner of India

Performers at the Rhythms of Manipur concert at the Singapore Flyer

4 india news February 2013 india news February 2013 Sudarshini in Singapore

Late last year, Indian Naval sailing ship the INS Sudarshini on 31st January, two naval cadets from each of the nine Sudarshini sailed from India on a mission 2013. The gathering at the reception was ASEAN member-countries to which it is to commemorate ASEAN-India relations addressed by the High Commissioner of making port calls - building camaraderie, by tracing the ancient trading routes India to Singapore, Mr. Raghavan. team spirit and strengthening naval ties. from India to ASEAN countries. Having traversed the sea routes to , After departing from the Singapore The ship commanded by Commander , Philippines, Vietnam, Changi Naval Base, the ship made its N Shyam Sundar was built by Goa and , it arrived in Singapore to a way to and then onward to Shipyard Limited and was designed rousing reception on 29th January 2013. . It will end its journey in April by the British Naval Architect Mr Colin when it reaches Kochi, India at the end Mudie. She can sail for up to 20 days The ship was docked here till 13th of March 2013. All in all, in 127 days of with its complement of 5 officers, 31 February, 2013, during which time it was sailing, the ship will visit nine countries, sailors and 30 trainee cadets. visited by over 1,500 people. A formal covering around 12,607 nautical miles. reception was also held on occasion Along with training Indian naval cadets of the ship’s arrival, which was well on basic mariner skills, the ship and attended by diplomats and the crew of its naval crew has also been training

High Commissioner of India, Mr. Raghavan addressing Visitors on board INS Sudarshini guests at the formal reception on 31 January india news February 2013 india news February 2013 5 Republic Day Celebrations

Republic Day celebrations at the High Commission of India in Minister for Environment and Water Resources. Both Mr. Singapore began with a formal reception hosted by the High Raghavan and Dr.Balakrishnan addressed the guests. The Commissioner Mr. Raghavan on 24th January, 2013. The choir group of the Singapore Indian Fine Arts Society, rendered Guest of Honour was Dr. Vivian Balakrishnan, the Singapore the national anthems of both India and Singapore.

6 india news February 2013 india news February 2013 On Republic Day, a flag hoisting ceremony was held at to the nation. This was followed by cultural programs performed the High Commission premises on Grange Road. High by students from Indian schools in Singapore. Commissioner Mr. Raghavan read out the President’s message

india news February 2013 india news February 2013 7 just over Rs.171 crore. The resource base of the Union government today is an ocean compared to that drop. But we must ensure that the fruits of economic growth do not become the monopoly of the privileged at the peak of a pyramid. The primary purpose of wealth creation must be to drive out the evil of hunger, deprivation and Excerpts from President’s marginal subsistence from the base of Message to the nation on the our expanding population - Last year has been a testing time for eve of Republic Day us all. As we move ahead on the path of economic reforms, we must remain My Fellow Citizens: woman is a directive principle of that alive to the persisting problems of On the eve of our 64th Republic Day, I larger edifice called Indian civilization. market-dependent economies. Many extend warm greetings to all of you in The Vedas say that there is more than rich nations are now trapped by a India and abroad. I convey my special one kind of mother: birth mother, a culture of entitlement without social greetings to members of our armed guru’s wife, a king’s wife, a priest’s obligations; we must avoid this trap. forces, paramilitary forces and internal wife, she who nurses us, and our The results of our policies should security forces. motherland. Mother is our protection be seen in our villages, farms and from evil and oppression, our symbol factories, schools and hospitals - India has changed more in last six of life and prosperity decades than in six previous centuries. - In the recent past, we have seen The foundations were laid through our - It is time for the nation to reset its serious atrocities on the Line of Constitution, adopted on 26 January moral compass. Nothing should be Control on our troops. Neighbours may 1950, which we celebrate each year as allowed to spur cynicism, as cynicism have disagreements; tension can be Republic Day. Its driving principle was is blind to morality. We must look deep a subtext of frontiers. We believe in a compact between state and citizen, into our conscience and find out where peace on the border and are always a powerful public-private partnership we have faltered. People must believe ready to offer a hand in the hope of nourished by justice, liberty and that governance is an instrument for friendship. But this hand should not be equality good and for that, we must ensure taken for granted good governance - In the last six decades there is much - India’s most impregnable asset is that we can be proud of. Our economic - We are on the cusp of another self-belief. Each challenge becomes growth rate has more than tripled. The generational change; the youth of an opportunity to strengthen our literacy rate has increased by over India spread across villages and resolve to achieve unprecedented four times. After having attained self towns, are in the vanguard of change. economic growth and social stability. sufficiency, now we are net exporters The future belongs to them. They are Such resolve must be nourished by an of food-grain. Significant reduction today troubled by a range of existential avalanche of investment, particularly in the incidence of poverty has been doubts. Does the system offer due in better and greater education. achieved reward for merit? Have the powerful Education is the ladder that can help lost their Dharma in pursuit of greed? those at the bottom to rise to the - I speak to you when a grave tragedy Has corruption overtaken morality in pinnacles of professional and social has shattered complacency. The brutal public life? Does our legislature reflect status rape and murder of a young woman, a emerging India or does it need radical woman who was symbol of all that new reforms? These doubts have to be set Even the British sensed that they were India strives to be, has left our hearts at rest leaving a land which was very different empty and our minds in turmoil. We from the one they had occupied. lost more than a valuable life; we lost - The young cannot dream on an At the base of the Jaipur Column a dream. If today young Indians feel empty stomach. They must have jobs in Rashtrapati Bhavan there is an outraged, can we blame our youth? capable of serving their own as well inscription: “In thought faith... In word as the nation’s ambitions. It is true that wisdom... In deed courage... - There is a law of the land. But there we have come a long way from 1947, In life service... So may India be is also a higher law. The sanctity of a when our first Budget had a revenue of great”.

8 india news February 2013 india news February 2013 Delhi Dialogue V

The India-ASEAN Delhi Dialogue is Pranab Mukherjee, the then Minister for Traditional Security Challenges: Food an annual international conference External Affairs, and Dr Surin Pitsuwan, Security, Water Management and of political and economic leaders, ASEAN Secretary-General on January Pandemics,” “Future of Global Energy officials, academics and opinion- 21-22, 2009. The second edition of Market: Role of New and Renewable makers of ASEAN countries with their the dialogue took place on January Energy in Sustainable Development,” Indian counterparts to discuss how to 21-22, 2010 with the theme India and “Cooperation between CLMV Countries intensify and broaden political, strategic, Southeast Asia in the Changing Regional and North-East India: Opportunities and economic and civil society interaction Economic Dynamics of Asia: Shared Challenges,” and “Expanding Networks between the two regions. The forum Interests and Concerns. Third in the through Connectivity: Land, Sea and has not only entered into the lexicon of series, the Delhi Dialogue III held on Air.” Through these sessions, the India’s ‘Look East’ policy but also drawn March 3-4, 2011 deliberated on ways Dialogue highlighted India’s increasing attention of the ASEAN region towards to take forward cooperation beyond the engagement with ASEAN countries and the need for a comprehensive annual 20 years of ASEAN-India engagement. explored the agenda for consolidation dialogue between the two partners. Delhi-Dialogue IV which was also the of their relationship in the coming years. In this spirit, the India-ASEAN Delhi flag-off event for the ASEAN-India The Dialogue also attempted to assess Dialogue V, titled “India-ASEAN: Vision Commemorative year celebrations, was and incorporate issues and perspectives for Partnership and Prosperity” was held held from 13-14 February 2012 with the which emerged from the India-ASEAN on 19-20 February 2013 in New Delhi. theme “India and ASEAN: Partners for Commemorative Summit 2012 to help Peace, Progress and Stability. identify areas of greater engagement This Dialogue was organised by the between India and ASEAN countries. Ministry of External Affairs, Government of India, in partnership with the Indian Over the years, ASEAN has evolved Council of World Affairs (ICWA) and into a vibrant institution and developed the Federation of Indian Chambers of a robust framework to deal with issues Commerce and Industry (FICCI) and of regional concern. India acknowledges supported by the SAEA Group Research, the importance and valuable contribution Singapore and Economic Research made by ASEAN to regional peace and Institute of ASEAN and East Asia (ERIA), stability and also to the economic well- Jakarta. being of the region. It is expected that This year the conference was divided the India-ASEAN partnership has been Intended as an annual second track into five sessions in which the further strengthened through the Delhi conference focusing on India- ASEAN participants deliberated on issues such Dialogue V. Regional security and cooperation, the as “India-ASEAN Security Cooperation: Delhi Dialogue I was inaugurated by Shri Towards Peace and Stability,” “Non- india news February 2013 india news February 2013 9 Colours of the Rainbow

Uttarayana, the kite festival, which to give them the tensile strength and Kite duels continue from dawn to sunset, coincides with Makar Sankranthi that cutting edge, are prepared on every and sometimes even after night falls. (January 14 and 15) every year, brings street corner, then rolled on to spools Dispelling the darkness are tukuls, paper old neighbourhoods of Gujarat alive called firkis. Artisans then make the kites lanterns, tied to the strings of kites, with the flutter of kites. Started in 1989, using paper and bamboo, sourced from especially made for this purpose. The this festival has attracted kite flyers North India. effect in the sky is magical! Celebrated from countries as diverse s Ukraine and by all in the state, this kite flying has France who come here to enjoy the Flying a kite is not as simple as it looks, no religious connotation – a funfilled experience, as well as show off their especially when the idea is to cut your time with family and friends as they get elaborate creations. rivals string with your own. When a kite together for to celebrate this festival flyer is successsful in cutting another together. kite off its line, there is much excitement on the fliers rooftop, with yells of ‘well The festival is now in its 25th year begain cut!’. Lunch too is a picnic on the rooftop in Mumbai and Delhi on January 7th. – which in Surat and Khambatt would This year, the event was bigger than be matka undhiyu, a mixed vegetable ever, convering nine locations besides preparation cooked in an earthen pot Ahmedabad, with Indian participants and puris. trading skills with 100 international kite flyers from 40 countries.

Earlier Uttarayana was a celebration of the harvest season and a salute to the sun. But even today the traditional flavour can be savoured in crowded areas of Ahmadabad, Vadodra, Surat and other urban centres of Gujarat. Come January and preparations begin in full swing. Children bring a whiff of excitement as they spend all their spare time practicing for the big day. Cotton thread coated with glass, rice paste, chemicals and other abrasive materials

10 india news February 2013 india news February 2013 Itimad-ud-Daulah’s Tomb A hidden gem near the Taj Mahal

Itimad-ud-Daulah was a Persian noble in fine designs like the most spectacular walls. One can find many trees and in Jehangir’s court and a man of great of sarees or carpets. The building itself flowers painted by hand on the walls importance, since Persian language and is of white marble, but the small stone inside, which was a new feature in culture were still the sources of power chips used for inlay are black, yellow, building decoration. Up till this time, like Latin was in the Christian world. brown and grey. The designs are tombs mostly were decorated by using a heavily geometric on the outside, and combination of different stones, such as Today, when we struggle to piece interspersed with marble jaali windows red sandstone and white marble, while together the life of even the most as well. building and not any such paintings, luminous of emperors, not much is certainly not so plentifully. Along with known about this man. But for our plant life the paintings are also entirely purpose it is sufficient to know that he design oriented, like frames to windows was the father of Mehrunissa, better and arches, running lines along the known as Nur Jahan, wife of Jehangir, walls, coloured muquarnas and so on. the fourth Mughal emperor. He was also the grandfather (through his son) of View of the River Arjumand Banu, or Mumtaz Mahal for whom the famous Taj Mahal was built. The tomb sits in the centre of a charbagh His importance thus becomes clearer. garden, and has the entry from the East, and two false gates on the North and Spectacular Stone Inlay South. On the West is one of the best features of this complex – a large shaded The exterior of the tomb has intricate pavilion overlooking the river. Though the stone inlay design that you don’t get Persian Influence river in summer is often little more than to see even in any of the more famous a trickle of sludge and plastic, one can tombs. And it is quite breathtaking This tomb exhibits on the interior the still enjoy the beautiful breeze that blows because the entire structure, as large as Persian influence he brought to India, through this pavilion and be tempted to a sizeable modern bungalow, is covered namely in the mural paintings on the spend half an hour in this soothing spot. india news February 2013 india news February 2013 11 Margam: Its Myriad Hues Sammilan: Spirit of Krishna Bharatnatyam recital by Urmila Sathyanarayanan Carnatic-Hindustani Ensemble by Shashank & Group

Venue: Esplanade Theatre, Singapore Venue: Esplanade Concert Hall, Singapore Date and Time: Mar 22 2013 8.00pm Date and Time: Mar 23 2013 7.30pm Tickets: S$80 / 40 / 30 available at www.sistic.com Tickets: S$80 / 40 / 30 available at www.sistic.com For more details visit www.sifas.org For more details visit www.sifas.org

Gaana Manjari: Versatility in Classicism Raga Dhwani: The quintessential Sound Carnatic Vocal Concert by Sanjay Subhramanyan Sitar Concert by Ustad Shujaat Husain Khan

Venue: Esplanade Concert Hall, Singapore Venue: Esplanade Concert Hall, Singapore Date and Time: Mar 28 2013 7.30pm Date and Time: Mar 31 2013 7.30pm Tickets: S$40 / 25 available at www.sistic.com Tickets: S$80 / 40 / 30 available at www.sistic.com For more details visit www.sifas.org For more details visit www.sifas.org

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Copyrights © 2012, The High Commission of India This newsletter is published monthly by The High Commission of India. No part of this publication should be reproduced without the permission of the publisher. While every effort has been made to ensure the accuracy of all information contained, the publisher cannot be held liable for loss incurred in any way whatsoever by a company or person relying on this information. For further enquiries, contact First Secretary and Head of Chancery, High Commission of India, 31 Grange Road, Singapore 239702.

Tel: +65 6238 2514 Hasna Mana Hai - Season 4 Fax: +65 6732 6909 Hasya Kavi Sammelan Email: [email protected]

Venue: NTUC Auditorium, 1 Marina Boulevard, Level 7, Singapore Outsourced to Go Places Pte Ltd 018989 Regd Office: 10 Anson Road, Date and Time: Sunday March 24 2013, 7:00 pm #26-04 International Plaza, Tickets: S$100 / 75 / 50 / 30 available at www.charkula.com Singapore 079903 Contact: [email protected] / 9002 1963 (Alka)

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