Didn't I read somewhere that the British royals were once really TV-shy? Either it was Queen Elizabeth's wedding or her coronation, but there was much convincing before they allowed a television crew (TV was new back then) to film and broadcast the event. Well, what a far cry William and Kate's wedding is from that. They're saying an estimated two billion people all over the world will "participate" in the wedding; and I can quite believe it. But what's most remarkable is the manner in which they'll do so. The number of apps that have sprung up around the royal wedding leaves you a bit flabbergasted. Broadcasting organizations, media houses, regular developers and just anyone, have put out a slew of apps out on the Apple store and on the Android market. And if you think these are a total waste of time, let me tell you that thousands seem to disagree as they download these apps and rate them high. One app, from Harper Collins, features the popular historian and television presenter, David Starkey. He's presented many riveting documentaries on the kings and queens of England and is wholeheartedly embracing technology today, making the transition to the app world quite happily. Starkey's and other apps feature timelines, family tree, British royal history and the entire story of the ten-year Kate and William romance. Other apps have a live stream of the event and one extremely popular app has a countdown to the final ceremony. The countdown started when they got engaged, by the way. Some apps have live wallpapers and beautiful images, constantly updating. There are some that lap up and relay every bit of trivia, from the dress to the car to the public kiss – nothing will be missed. The guest list and news on the many activities happening leading up to the event also make up much of the app content. Some of the apps are games, predictably. Apps also stream content from Twitter and Facebook updates on the subject and pick out interesting content from blogs. Not all of this is trivial and fluffy. The more attention the royal wedding gets, the nicer it is for brand Britain. This is a time when Britain is reeling under the effects of a faltering economy and the way it conducts itself through this event will be watched and probably admired, throughout the world. That can only help. I have a long time fascination for the British royals (specifically the head-chopping Tudors) but it's equally fascinating that apps can today spring up in response to events. Certainly, they'll have a short life, but that's fine; as long as they do the job they were intended to. They could, for example, develop in response to a disaster or a social cause. They could come up in response to political events, letting people participate in different ways. They do so on the social networks to begin with, but on smartphones and tablets, mobility adds a new angle of immediacy. As cricket fanatics, we are of course already familiar with cricket apps which come up in response to our national's obsession. Mala Bhargava is a personal technology writer and media professional. Contact her at mala@pobox.com and @malabhargava on Twitter
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The word 'inclusive' is now in vogue. Politicians give speeches about inclusive growth. Corporate executives talk about inclusive strategies. And business academics write about inclusive innovation.After a decade of excess and the sins of the financial crisis, it is not surprising to see interested parties take positions. Politicians, worried about the growing gaps between the rich and poor emphasise the need for growth to reach all segments of their nation's populations. CEOs of multinationals, eager for growth after the shocks of the crisis, see the rising middle class in emerging markets as the panacea for reenergising profits. Business academics, always searching for the next magical mantra, see potential in extolling the reinvention of innovation strategies.The business logic for emphasising inclusiveness is sound. After all, inclusive growth brings the bottom of the pyramid into the mainstream economy as customers, employees and intermediaries. Companies that are able to cater to and attract the loyalty of these emerging masses are laying the foundations of their future growth and success. However, creating and executing on inclusive innovation strategies has proven to be hard for corporations.Many executives wrongly assume that inclusive growth simply means making lower quality products at lower price points. This they argue is either against their corporate goals or simply incompatible with their existing capabilities and production processes. However, entrepreneurs in many emerging markets such as India and Brazil have shown that inclusive innovation requires a fundamental rethinking of business models. How else could they offer mobile phone calls for less than one cent a minute or perform high quality cataract surgery for thousands of needy individuals at around $25 dollars per head. In fact, the motto adopted by the National Innovation Council in India, inspired by the philosophy of Mahatma Gandhi is doing more good with less resources for more people.Affordability and sustainability have come to the fore of innovation and they will have to be achieved while maintaining or even improving quality. This poses a non-trivial challenge for even the most successful corporation. While business models will have to be rethought bottom-up, having the right mindset and culture are even more important. Business leaders will have to commit in unambiguous terms to making inclusive innovation part of their corporate goals. There has to be a fundamental desire to serve more people, in fact many more people, with relevant and affordable products as opposed to being content with serving more products at premium prices to current customer segments.The winners in inclusive innovation will reap big benefits in a changing world where the fastest growth in consumer spending is coming from the bottom of the pyramid in emerging markets. However, winning in this new arena will not be easy and cannot be taken for granted by incumbents.Are you ready for this challenge?The author is the Roland Berger Chaired Professor of Business and Technology at INSEAD, France. He has authored several books on technology, policy and innovation.Comments on this note can be sent to: mail(at)soumitradutta(dot)com
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Like many companies, Sony has had a few awkward moments in its illustrious timeline. However, nothing can compare to what just happened. Biggest BreachThe personal data of over 77 million PlayStation users is quite possibly in the hands of hackers. The user network has been down since April 19 and is now getting back on its feet. Reports say the data includes the credit card details of 10 million users, but Sony says it has no information "at this time" that hackers really have got to data which they say is encrypted. The upshot is no one is sure exactly what's happened with the data but there are sporadic reports of credit card infringements. Posts on hacker forums seem to indicate they can have that encryption for breakfast. All in a day's work. One amazing rumor has it that hackers actually offered to sell the data back to Sony. Bowing In ApologyWith perfectly bad timing, an apology from Sony has come right after the company launched its me-too tablet, making people wonder if it was deliberately held off until then. Most think it's too little too late. If Sony thinks a "sorry" means all is forgiven, they may soon find out otherwise in court with irate customers. The Japanese-style apology by Kazua Hirai, president and CEO of Sony Computer Entertainment and other Sony execs looks heart-warningly humble, but the press release mostly talks about how the company has itself been the target of a cyber-attack It even says this was an attack on the entire industry – meaning not Sony's fault alone? The press release focuses on the services that will be restored as the network limps back to normal. About the measures it's taken, Sony has this to say: "SNEI quickly turned off the PlayStation Network and Qriocity services, engaged multiple expert information security firms over the course of several days and conducted an extensive audit of the system. Since then, the company has implemented a variety of new security measures to provide greater protection of personal information." Damage ControlOne can't help wondering whether Sony could have, just as quickly, raised an alert for users to change or temporarily block the credit cards used on the network. Sure, this would have been an admission of the seriousness and intrusiveness of the attack, but an early alert would have been more responsible and concerned and would have earned more trust than talking about how extensive Sony's tests are right now. Investigations may help find out what happened and but they aren't going to re-secure those credit cards or prevent identity fraud. Complementary offerings and customer appreciation programmes seem to be winning back some customers, but a crisis like this one isn't going to be easily forgotten. Never Sleep On Security No one is hacker-proof – that much is acknowledged by everyone. How a company responds in a security breach of this proportion however, shows its values. If it had room to improve its security – and that's obvious now, after the attack – why didn't it proactively and intensively explore doing so before? As the online world gets no safer and customers trust their details to everyone doing business online, it's critical for companies to constantly look for safer ways and move quickly and effectively when that safety is compromised.Mala Bhargava is a personal technology writer and media professional. Contact her at mala@pobox.com and @malabhargava on Twitter
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Leadership within organisations is largely perceived to be within the purview of senior management. Leaders are essentially people who can think beyond their present circumstances, override uncertainty and translate challenges into opportunities. However, in the present scenario, things have changed and in order to stay ahead of competition or even retain and grow its existing customer base, a firm needs to command certain elements that differentiate it from the other players in the market. And these differentiating elements emanate through innovation — a mandate that is interestingly not restricted to any or a particular management level.Today it is not just enough for leaders (in every walk of life) to be effective strategists and decision makers. Apart from these trademark traits they also need to be good innovators - a characteristic that stands them in good stead as far as entrepreneurship is concerned. It is important to understand that one can pursue one's entrepreneurial abilities even while pursuing a career within an organisation - by creating processes, services and products that make a difference and enrich the value chain. In other words, entrepreneurship need not be restricted to those people who embark on enterprises funded by venture capitalists.Nurturing leadership qualities among the youth is an overriding concern for an emerging knowledge economy like India; particularly in view of the fact that more than half of the country's billion plus population is below the age of 25. If India has to truly achieve the status of a knowledge economy, then every working professional should be a leader and entrepreneur in his/her own right. The corporate fraternity, given its constant engagement with the principles and practices of leadership and management has a turnkey role to play in terms of achieving this mandate. Innovative ideas can spring from every quarter of the organisation. Today's corporate environment constantly contending with the dynamics of change (ushered by the cross currents of the global business landscape) and hence is in need of people who can go beyond stereotypical work profiles and carve their own career path. In other words it is in need of 'doers' or leaders as opposed to mere executors. Hence it will not be an exaggeration to say that today the traits of leadership are indispensable to the corporate world and are required of professionals at every stage of their career.Corporate world is also fast realising the fact that while many young minds are brimming with ideas they might not necessarily have the acumen to translate the same into workable propositions. One clear way of countering this inherent challenge is to invest in leadership training. It is of utmost importance that young employees are oriented with the macro dynamics of organisational functions so that they can think beyond stereotypical work roles. Such an orientation shall automatically translate into increased confidence levels and a heightened sense of professional responsibility and ownership that can in turn help in transforming them from being mere executors to 'doers/leaders'.It is not an exaggeration to say that today the traits of leadership are indispensable to every professional sector and are required of professionals at every stage of their career. When young employees demonstrate qualities of leadership it translates to a beneficial equation for their organisations. For instance, among other things a young leadership cadre can help in cementing collaboration among different functions because today's youngsters are essentially collaborative by nature. Also if invested with leadership young employees can usher true democracy and be instrumental in terms of breaking rigid and obsolete power structures.Ironically, while today there is a broad consensus that organisations have a sacrosanct mandate of nurturing young leaders there hasn't been much deliberation on specific approaches that need to be adopted in this direction. A right approach is one that takes into consideration the specific behavioural nuances and aspirations that are characteristic of the young. For instance today's youngsters are adept at multi-tasking and are less prone to compartmentalise their work and personal lives. They are also relatively better networked and more transparent and vocal about their views as compared to the previous generations. Hence instituting platforms whereby young employees can routinely exchange their ideas and opinions (among peers and seniors) on various organisational and industry topics/issues is one possible way of nurturing leadership. Management and training support can be extended to these institutions/platforms. Organising focused workshops, seminars and lectures in educational institutions are yet some other ways in which leadership among the youth in society could be fostered.The author is Corporate Vice President & Global Head - HR, HCL Technologies
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Worldwide, especially in the developed countries, the Toyota moniker stands for affordable cars, with models such as Corolla being hot favourites with customers. In India, though, its positioning has been more in the premium arena, partly because the Indian market was one that looked for far cheaper cars than even Toyota was making. With the Etios sedan, Toyota aims to change that positioning, ever so slightly, even as it gears up to increase its share in one of the world's fastest-growing automobile markets.The first time you see the Etios, the feeling is one of slight disappointment. Even though the front grille is signature Toyota, the car's build and design look average rather than stunning, though the body contours are evenly balanced. Clearly, Toyota is not out to win any design awards with this car. The small headlights, which don't have the sharp angular character of the Altis's or Camry's headlights, add to the disappointment. And the rear end bears an uncanny resemblance with the Logan. What the outer body does have, however, is perhaps what Toyota would be most interested in: the perception of size. Etios looks a seriously big car, though it is actually smaller than Tata's Manza and marginally bigger than Hyundai's Accent, though it certainly is much bigger than Maruti's Dzire. Where Etios falters a bit is in the fact that the body metal appears cheap and has a tinny feel, especially the boot which rings quite strongly when you close it shut. (BW Pic By Tribhuwan Sharma) The interiors certainly look better, particularly in the top-end VX version that the company provided us for the test drive. The dashes of red on the doors, seats and the gear knob bring a spark of brightness inside, while the seating space is definitely among the best in its class. The front windshield does feel a tad low, and if you're a tall driver, you almost feel you're about to touch the glass with your head; the steering wheel, too, is low, and could inconvenience tall drivers. The top-end version also has a couple of airbags, so it adds to the feeling of safety. While the inside looks bright, it cannot disguise the fact that the company has had to cut corners to bring the car's price down to an affordable range for Indian customers. The plastics look decidedly cheap, and the stereo system looks too plain vanilla for a model (VX) that ultimately costs slightly less than Rs 7 lakh.Looks, though, are one thing, and performance is quite another. The proof of the pudding, as they say, is in the eating. And accordingly, as part of our test drive, we filled up the car with eight people — two families, and many of them rather generously built — and lots of shopping bags, but Etios's 1.5-litre engine was more than up to the strain, and moved as effortlessly as it would if there were only the driver present. With 132nm torque (at 3,000 rpm) and 90 ps power, Etios has enough muscle in its body to take a heavy load. The fact that it is actually lighter than the Dzire, despite being much bigger and with a larger engine, gives it a much greater power-to-weight ratio, improving its performance. At the same time, pickup from a standstill position is also great, thanks to its engine size. However, the brakes, though efficient, did not feel as powerful as 'power brakes' on competing cars such as Dzire or Accent do. A fair amount of leg pressure was needed to bring the Etios to a stop.The boot, a humongous 595 litres, is big enough to pack all you need for a long weekend drive to the nearby bird sanctuary with your family. Considering that even the Manza, a bigger car than Etios, has a boot space of 460 litres, Accent has 380 litres, and Dzire has 440 litres, Etios is certainly your first choice if you are looking for a weekend touring machine that takes you a long way. The only problem is that unlike even much cheaper hatchbacks, Etios's back seats don't have a 60:40 split, wherein you can push down one seat to increase the boot space. Now, the question is, with 595 litres of boot space, do you really need more? And what is more commendable is the fact that despite have such a massive boot, the seating space for both front seats and back seat passengers are not compromised.So, if you're the type that drives with a fair bit of load — think lots of family members, lots of gear — on a fairly regular basis, and wants a workhorse of a sedan that can take the pressure without the need to look cool and snazzy, Toyota's Etios is the perfect car. It has a powerful engine, lots of seating space, even more space for bags and baggage, and delivers great mileage as well. Now, the only thing that's needed: a diesel Etios! Now, do we smell a winner there?
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India needs to tighten monetary and fiscal policy further to control inflation and sustain growth, the Organisation for Economic Cooperation and Development (OECD) said in a report on Tuesday.The group of 34 industrialised countries also warned India's rising oil subsidy bill could see the government miss its fiscal deficit.The Reserve Bank of India (RBI) has raised interest rates by 250 basis points since March 2010, in nine moves, but has failed to kill off inflation that remains stubbornly high.The headline inflation accelerated to 9.06 per cent in May from 8.66 per cent a month ago on higher manufacturing prices.The OECD report says high inflation has made real interest rate negative despite a series of rate hikes."With the economy now back on a high-growth trajectory with limited slack, further incremental tightening is needed to ensure inflation moderates," it said.High inflation is seen slowing down Asia's third largest economy by pushing up credit costs and weakening consumer demand. The economy grew at its slowest annual pace in five quarters in January to March.Analysts have blamed New Delhi's loose fiscal policy in the wake of the global downturn for high inflation. The government has only partially rolled back its stimulus.New Delhi plans to narrow its fiscal deficit to 4.6 percent of the GDP in the current fiscal year to end-March 2012, after revenue windfalls from the sale of third generation spectrum and wireless helped it keep the deficit at 4.7 percent last year.However, several analysts have questioned the government's target in the face of a slowing economy and high oil prices.The OECD, too, believes a higher pay out for oil subsidies following the rise in global oil prices may see India missing its deficit target."Tight control will need to be exercised over spending, given that in the past few years there have been consistent over-runs in budgeted outlays," it said."Hence, a steadfast commitment to spending restraint will be essential for the government to meet its target."New Delhi has budgeted a fuel subsidy bill of $5.2 billion for 2011/12, assuming oil prices below $100 per barrel. Oil prices are currently near $120 a barrel.Analysts say an increase of $10 a barrel in oil prices has the potential of increasing the fiscal deficit by around 0.2 percent of GDP.(Reuters)
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Here is one way of looking at the Reserve Bank of India's (RBI) monetary policy announcement for 2011-12 (FY12). When you go through a course of treatment for any ailment, doctors use the most potent doses and medicines first. As symptoms fade, and it becomes evident that the illness is waning, doses become smaller and less intense, and once the ailment disappears, the treatment stops. Use that analogy to analyse the credit policy, and one will realise the treatment has only begun. By announcing a half percentage point hike in policy interest rates — mainly the repo rate, at which banks borrow from the RBI for managing liquidity needs almost every day — or 50 basis points (bps), the central bank seems to have signalled that its treatment (policy rate hikes) for persistently high inflation throughout the economy thus far has not worked, so it decided to give the banking system stronger medicine (aggressive rate hikes)."Giving it such a booster shot at what most thought were near the end of the hiking-cycle seems a little out of place," says Indranil Pan, chief economist at Kotak Mahindra Bank. The RBI has also made borrowing terms tougher: it has said that banks can borrow up to 1 per cent of net deposits at 1 per cent higher than the repo rate of 7.25 per cent (at 8.25 per cent). Rajiv Kumar, economist and director general of the Federation of Indian Chambers of Commerce and Industry, is worried that maintaining growth would be difficult. "It will actually slow down growth," says Kumar. "Employment targets cannot be met and that could add to social pressures."In his address to bankers, and in his policy statement, RBI governor Duvvuri Subbarao said as much, that the country would have to forego some growth in the short term to ensure sustainable growth in the longer term. How short? The rest of the year, perhaps. The RBI pegs gross domestic product (GDP) growth at 8 per cent for FY12.It Was Always About InflationBut what makes this policy more interesting are some of the structural changes that accompany the aggressive policy-rate hike, to give it more bite in the battle on inflation. First, rather than use a corridor between the repo and reverse repo (the rates at which the RBI ‘borrows' excess securities from banks), monetary policy will now use a single signalling rate, the repo rate. Second, it will increase the costs for banks to borrow through the newly instituted marginal standing facility (MSF), which banks can use to borrow additional liquidity. The interest rate on MSF borrowing will now be 8.25 per cent, instead of 7.25 per cent.Third, the central bank has raised the cheapest form of bank ‘borrowing' — savings bank deposits — from 3.5 per cent to 4 per cent, after leaving it untouched for almost nine years. Banks make a big spread on this segment of deposits, and their net-interest margins (NIMs, or the difference between interest paid on deposits and interest earned on loans) could come under some pressure. In addition, savings bank interest rates could go up each time the repo rate is increased. Should savings bank interest rates have been raised at this juncture? They constitute roughly 22 per cent of the total deposit base of the banking system. The current hike apart, not everyone is happy with the thought of the eventual deregulation either. "Casa (current and savings account) deposits, which are core deposits, will become volatile," says Mohan Shenoi, treasurer at Kotak Mahindra Bank. "Currently, in liquidity statements, they are included in the 1-3 year range. Now, we will have to put them in the less- than-one-year bucket. And that could change the cost of deposits significantly."break-page-breakOthers think deregulating savings banks rates is necessary. "Savers need to be compensated especially as inflation levels are around 8.5 per cent," says South African FirstRand Bank's treasurer Harihar Krishnamoorthy. "Policy transmissions get muted when a large part of deposits are at low, fixed levels and render lending rates less dynamic."Stimulus Versus ResponseWhat will banks do? "Most banks will try to maintain margins, but a large part would have to be passed on through increase in lending rates, say 50 to 100 bps," said Chanda Kochhar, managing director and chief executive officer, ICICI Bank, at the bankers' conference after the annual policy announcement. "By definition, EMIs should go up," said Aditya Puri, managing director and CEO of HDFC Bank, at the conference. "The RBI has made money dearer. Now, the banks' asset liability committees (ALCO) will make the final decision (on interest rate hikes to borrowers), but there could be a 50-bps hike in lending rates."Puri was right. IDBI Bank announced a rate hike in its base lending rate of 50 bps within hours of the policy announcement on 3 May. Punjab National Bank and Yes Bank followed the next day announcing similar increases. LIC Housing Finance and Bank of Maharashtra were next. In the coming days, the entire banking sector will follow suit.Banks have another problem on the big deposits side, too. The RBI has sought to reduce the interdependence of banks and mutual funds in managing liquidity. Over the past years, banks' investments in liquid funds of debt-oriented mutual funds (DoMF) have grown manifold. DoMFs are huge lenders in overnight money markets, especially in the collateralised borrowing and lending obligation market, where banks are the biggest customers.DoMFs invest heavily in certificates of deposit (CD) of banks. "Such circular flow of funds between banks and DoMFs could lead to systemic risk in times of stress or liquidity crunch," the RBI said. Accordingly, it capped banks' investment in liquid schemes of DoMFs at 10 per cent of their net worth as on 31 March of the previous year and has given them six months time to comply.Bank treasurers say this could result in a reduction in banks' earnings, besides affecting mutual funds. "It will also impact mutual funds' assets under management, although the impact will be differential," says Bekxy Kuriakose, head of fixed income at L&T Mutual Fund.Prudence And The Bitter PillThe forced reduction in reliance on mutual funds is part of the prudential regulatory change announced in this year's monetary policy. There have been changes to provisioning norms, which could have considerable impact on banks' after-tax profits in the coming year or two. Why? Because with long-term increases in interest rates — that is the expected impact of the recently announced measures — non-performing assets could go up dramatically for many banks. The increase in provisioning is preemptive, to make sure balance sheets are not stressed. Provisioning for substandard assets (those that are overdue for 91 days) is now 15 per cent (up from 10 per cent) and that for doubtful assets (overdue for a year) is 25 per cent (from 20 per cent).What will this do to credit growth that has been almost 23 per cent compared to the targeted 17 per cent? "The increase in provisioning, by itself, should not have any impact on credit growth," says FirstRand's Krishnamoorthy. "It may impact profits on a one-time basis for some banks, though."It is not all tightening, though. In another move that could help the government securities (G-Secs) market, the RBI increased the time span for short selling of G-Secs from five days to 30 days. "We have been receiving requests for this," says Shyamala Gopinath, RBI deputy governor. "Till now, it was not possible to take long positions in interest rate futures (IRFs). This will help investors take long positions in IRFs and encourage a term repo market."This policy may have restored the RBI's credibility as inflation fighter in some corners, but it has also worried others; some wonder whether the end of the tightening cycle is far from over. "The RBI has also said that there are clear upside risks to inflation because of oil and commodity prices," says a bank economist.tanushree(dot)pillai(at)abp(dot)in(This story was published in Businessworld Issue Dated 16-05-2011)
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France's Christine Lagarde and Mexico's Agustin Carstens were today shortlisted to lead the International Monetary Fund.The new managing director would be announced by June 30, the IMF said in a statement."The Executive Board will meet with the candidates in Washington and, thereafter, meet to discuss the strengths of the candidates and make a selection," the official IMF statement said.The two were the only ones named when the IMF released the list after nominations closed on Friday. The IMF did not explain why Israel's Stanley Fischer, who only declared himself at the last minute, was not on the list.Two other possibles, a South African minister and Kazakhstan's central bank head, dropped out Friday.While Lagarde, a French national, is Minister of Economy, Industry and Employment of France; Carstens is Governor of the Bank of Mexico.(PTI)
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It's a return to the roots. Minimalist construction and pristine conservation define eco resorts across the country. While they are designed for comfort, these retreats have a calming influence on holidayers as they bask in nature's glory.At Our Native Village, a holistic health eco retreat in Bangalore, nothing is left to chance. The retreat, designed by Chitra Vishwanath, generates electricity through solar panels and a wind mill. It's hard to move around the 4.5-acre property without acknowledging its commitment to nature. The place has been kept open and airy. The construction is minimalist and doesn't go beyond the basic wood-stone-brick concept. The soil excavated from the construction site was used to make hand-pressed, sun-dried bricks. Alternatively and more realistically, these bricks function as room insulators, in the absence of air conditioners. Most of the water is rainwater gathered from the roofs and stored in an 84,000-litre underground tank. The swimming pool operates on the principle of a village pond, with fresh underground water instead of a chlorinated pool.While this is a way of life for C.B. Ramkumar, a former ad professional who envisioned it, it offers a cheerful abandon for its guests. "Our Native Village is the first of its kind in India and I love the concept. In an era of computers and technology, children should know what simple living is. The resort has done a great job in trying to bring out the best in children and adults alike," says Preethi Kini, a tourist from Mumbai. At daybreak, the retreat comes alive with farming activities. As geese gaggle in the background, visitors can try their hand at milking the cows or wait patiently as the hens lay eggs. The agrarian experience also includes a laidback bullock-cart ride. And on weekends, a potter helps people craft a pot, while a kite-flying session and a game of catapult keep children engaged. Among life's other small wonders, hero stones or veeragallus, popular in local history, form part of a rock garden. The restaurant at the Wildernest Nature Resort in Goa All these blend in with the rustic setting. Since it is in Hessarghatta, the last 2.5-km approach to the retreat is a flat land and attracts migratory birds. Apart from birdwatching, nature lovers can soak in the rolling uplands of the Arkavathy river, while the culturally and religiously inclined can head out to an ancient Hanuman temple.The retreat has moved with the times at its own pace. "This year, Bangalore's Foundation for Revitalization of Local Health Traditions planted a few hundred species of medicinal plants that we use for common ailments such as cough and cold. We also have an Ayurvedic treatment centre, where healing programmes integrate ancient and new-age therapies such as Ayurveda, yoga, diet, meditation and acupressure, among others," says Ambika Ramakrishnan, the retreat's executive chef and farm manager.While it's difficult to imagine drinking magic herbal potions to heal oneself at a retreat, the wellness extends to the culinary fare. About 80 per cent of the pulses, grains, vegetables and fruit are from the resort's organic farm. "Our food can be described as ‘compassionate' fare, as we are compassionate towards both the ingredients used for cooking and diners who consume the food. The spread is vegan and we avoid all four whites like sugar, polished rice, maida and milk," says Ramakrishnan. Garnishes include calcium-rich gingili seeds and flak seeds, a source of omega-3 fatty acids.Going beyond the vegan spread, several eco resorts dotting the country's landscape score with their clever use of natural resources, combined with rural flavours, which make these great places to unwind. No doubt, eco initiatives offer regional cuisines, but they rely on organic farm produce because travel-worn produce never tastes the same as veggies from a herb garden. BACK TO BASICS: Our Native Village in Bangalore is a holistic eco health resort (Pic: Our Native Village) break-page-breakWith its sprawling patios and pastoral charm, the Wildernest Nature Resort in Goa offers a compelling sense of seclusion. While many resorts in Goa are packaged as beach destinations, what probably makes Wildernest different is that it is located in the Chorla Ghat. The resort is nestled in the Swapnagandha Valley amidst lush greenery. Sudhir Naik, director of the resort, says: "I chose to set up Wildernest because I felt if the place was not protected, it would probably end up in the hands of the mining and timber lobby sometime. I wanted to create a sustainable venture that would conserve the forest and biodiversity of the region."Wildernest has created the elegance of a rustic getaway through eco-friendly materials such as grass, black mud tiles, bamboo and acacia, a social forestry wood. The huts are styled in the village module and built amidst the forest cover. Besides, the resort has come up with a 100 per cent employment policy for the neighbouring villagers.Naik also has a conservation plan. "The Mahdei Research Centre is dedicated to the conservation of the local natural and cultural heritage. The centre works with individual researchers and organisations, local communities and students to address various issues that concern the ecological and cultural diversity of the region," he says. The Chorla Ghat, where Wildernest is located, lies in the north-eastern side of where the Goa-Karnataka-Maharashtra boundaries meet. Being a part of the Western Ghats and the Sahyadris, Chorla Ghat is home to deciduous forests. Given its location, the resort manages to attract people all round the year. Come May and the south-west monsoon brings forth gushing waterfalls that keep photographers engrossed. As rains cease in September, they leave behind a carpet of greenery and gentle streams. Flowers and fruits are in full bloom in winter, while summer encourages nature lovers to set out on trails and walks. BACK TO BASICS: Pepper Green Village in Kerala boasts 200 trees and flowering bushes (Pic: Pepper Green Village) Open balconies, tree houses with the flora and fauna for company seem like whimsical eccentricity, but eco resorts are making informed choices as they put together these elements in an artistic and sensitive manner. It required a group of nature lovers to create what nature lovers would describe as a utopian village. The concept morphed into Pepper Green Village in Wayanad, Kerala, which brings under its umbrella 200 trees and flowering bushes, vines of pepper and the scent of spices. Here wood and bamboo cottages are built on the concept of a tree house. Besides the rustling of wind and the flow of the Kabini river close by, retreat seekers are treated to the occasional sound of the drum beats from the tribal villages. Cottages are connected through tree-top walkways raised on stilts that offer a full view of the paddy fields and forest canopy on either side. "We try to avoid using plastic in our premises and aim to make our resorts 100 per cent plastic free in the near future. In sync with our philosophy, a sewage treatment plant reuses the water for plantation," says Captain T.S. Saju, director of Pepper Green Village.The silence is surreal and activities at the resort are languid. Life is chalked out here, as nature lovers can walk down to the river bank to fish or swim. At night, a camp-fire and barbecue by the riverside completes the experience. A boat ride takes birdwatchers to the Kuruva Island. This uninhabited, wooded island is home to innumerable varieties of local and migratory birds.A river bank, forest fringe, magical world of birds, spices and a place to relax can send the most reluctant traveller into instant vacation mode. Sanctuary seekers can look forward to a hidden oasis among trees. Even the laptop-wielding, jargon-speaking corporate professionals turn into sanctuary lovers, as these eco resorts take them back to the basics — back to where life began — in a setting that blends greenery with a countryside lifestyle.The author is a freelance feature writer based out of Bangalore(This story was published in Businessworld Issue Dated 20-06-2011)
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At a certain stage of economic development, the Agricultural Produce Marketing (Regulation) Act — which mandates that all agricultural products be sold only in government-regulated markets — may have served a purpose. The establishment of regulated markets may have helped increase rural — especially the small farmer's — access to orderly marketplaces. It was also a time when the private sector had neither the ability nor the inclination to invest in such activities. Over the years, however, things have changed dramatically. Not only is the private sector willing, it is keen to invest in this sector. But regulations such as the APMC Act pose a major hurdle. As a consequence, private investment in agriculture and allied sectors has remained negligible, even as it has grown by leaps and bounds in most other sectors.The infrastructure that the APMC Acts (most states have their own versions) have created leaves a lot to be desired. The network of state-regulated markets, or mandis, have not been able to serve either the interests of small farmers or provide an efficient marketing mechanism. In fact in many states, the regulated markets are non-functional. Actual transactions do not take place in their premises, but the market fee is collected by the APMC at designated check posts.Also, the area served by a regulated market varies dramatically across the states — from 115 sq. km in Punjab to 11,215 sq. km in Meghalaya. On an average, a regulated market serves an area of 435 sq. km, and that means farmers have to transport their produce over long distances to reach a regulated market. Even on reaching a regulated market, the farmer can expect few facilities. Most of these markets do not have basic facilities — only 9 per cent offer cold storage, and only one out of three have grading facilities.So in effect, though these markets impose substantial taxes on buyers — over and above the commissions and fees charged by middlemen — they typically offer little in terms of price discovery, grading or inspection. Instead, they raise entry barriers. The APMC Act of Delhi, for instance, allows only registered traders/commission agents in the markets.Worse is the impact of the APMC Act in disallowing private processors and retailers to integrate their enterprises directly with farmers or other sellers, eliminating middlemen in the process. As per the APMC Act, farmers cannot enter into contracts with buyers. This leaves no incentives for farmers to upgrade, and inhibits private and foreign investments in the food processing sector.It is this bottleneck that has come up for special attention in the report of the inter-ministerial group on inflation headed by Kaushik Basu. It has recommended that all states should do away with or amend the APMC Act to allow farmers to directly access retail outlets and allow retailers to purchase directly from the farmers. The group points out that the difference between the farm gate price and the retail price is unusually high in India, and it is this Act which is chiefly responsible.The group has also sought an end to the systems of taxation that disrupt the flow of farm products from one region to another. Even if octroi cannot be abolished, all such charges should at least be levied at a single point, such as a mandi, it suggests.(This story was published in Businessworld Issue Dated 18-07-2011)
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