The recent devaluation of the yuan and, as a result, Chinese imports becoming cheaper spell more good than bad for the Indian industry, writes Nayan Chanda Ever since China devalued its currency in early August, there have been growing concerns in India that cheap Chinese goods will flood the market. Commerce minister Nirmala Sitharaman reassured the local manufacturers that “every step will be taken to stop dumping of Chinese goods into India”. It is natural that the minister would address the concerns of a major business constituency, but it is worth remembering that low-priced Chinese imports are not all bad for India. Even when cheap imports hurt inefficient industries through increased competition, we can benefit in the long run. Remember the decades before India opened up when Indians were forced to buy shoddy desi products. It’s only the 90s liberalisation that forced Indian manufacturers to shape up. Such is the fear of China’s export juggernaut that the news of the yuan’s devaluation brings about a kneejerk reaction, not only in India but all over the world. But not all exports are the same, nor do they have similar impacts on the domestic economy. For example, since the bulk of India’s capital goods imports (raw materials for the manufacturing sector) comes from China, their becoming less expensive should be welcome news. Chinese machinery and capital goods help India’s fledgling small and medium size industries to grow, not only producing sorely needed jobs but also enabling India to join the global supply chain with domestically produced components.Unlike developed western countries, Chinese machineries are more affordable and sturdier, making them better suited for developing countries like India. If the yuan devaluation makes them even more affordable, that is great news. As in most countries, small-scale industries built using Chinese capital goods could provide the widest avenues for employment. More than Chinese investments which might take years, Chinese capital goods imports would help realise the ‘Make in India’ project. It is also worth noting that with the changing nature of global demand, India has been steadily losing out in terms of export items produced by least skilled labour intensive industries. For example, a recent ICRIER study showed that this category of exports dropped from 28.1 per cent in 1990-91 to 12 per cent in 2013-14. But export from by five most skilled labour intensive industries has increased from 1.41 per cent in 1990-91 to 3.69 in 2013-14. Among other Chinese products that could fetch lower prices domestically are electronic items. As more people take to using business and educational apps on their smartphones, they can only help move the economy forward. India’s huge trade deficit with China has been a source of bilateral tension. Last year, India exported barely $11 billion worth of goods, while imports stood at around $60 billion. Economists have also noted the impact of imports, especially cheap items, on domestic industry and jobs. The ICRIER study reported that Chinese imports have displaced half a million Indian workers. While India should push China to open its doors more widely to its goods and services, it would be short-sighted to focus exclusively on monetary value of trade figures. Job losses by industries facing Chinese dumping are worth noting and taking action against. But what is not noted, and perhaps not easily quantifiable, is the medium- to long-term effect of Chinese imports on the country’s productivity. How many Indians would have started a business or increased their opportunities through their access to inexpensive laptops and smartphones? For all their dumping, Chinese exports have certainly played a role in narrowing India’s digital divide. The author is Consulting Editor of YaleGlobal Online, published by the MacMillan Center, Yale University; boundtogether.bw@gmail.com (This story was published in BW | Businessworld Issue Dated 05-10-2015)
Read More
The Korean electronics giant has some stunning new devices — against a backdrop of seven straight quarters of losses, reports Mala Bhargava At the India launch of the 5.7-inch Galaxy S6 Edge Plus, Samsung’s execs were still talking about how the Korean electronics giant practically invented the large-screen phone format and how Indian users liked big screens. It was quite as if they hadn’t noticed there were hardly any small phones around anymore. The Galaxy S6 Edge Plus and the Galaxy Note 5 (which was launched globally in mid-August but is yet to come to India) have much more to boast of than their size — a beautiful design, an outstanding screen on which the difference is clearly visible no matter what is said about the human eye being unable to detect fine resolution beyond a point, and possibly the best camera on a smartphone at the moment. In fact, it’s good enough to have prompted a comparison with the new Sony RX100 IV, a recent version of a compact camera that has been very popular with amateur photographers and even professionals for occasions when they don’t want to carry their full paraphernalia. The side-by-side was with the Galaxy S6 which has essentially the same camera and actually a Sony lens. The S6 didn’t quite beat the RX100 IV with its larger lens and more components for photography, but it’s definitely getting there and is comparable enough to make you think twice before buying the expensive camera that after all, does just one thing. It’s close enough for camera experts to wonder whether this will be the last RX100. But ironically, there are also those who wonder whether the Note 5 will be the last Note. Globally, Samsung is in a pincer grip with Apple on top, and a number of companies with Android phones circling like piranhas eating into Samsung’s market share. The very timing of the launch of Samsung’s two flagship devices seems to be have been shifted forward to preempt Apple’s launch of its iPhone 6 and iPhone 6 Plus successors. But Samsung’s devices will be about as expensive as the iPhones, possibly prompting many to wonder whether to opt for Apple’s coveted device instead. Elsewhere, Samsung is actually offering iPhone users a 30-day try-out of the new phones and the Galaxy S6 — and the offer is being taken up. Samsung execs say in India, they’re on a safe wicket and that the Galaxy S6 has been selling better than many of the company’s other phones. They give no figures. Globally, the Korean company has had quarter after quarter of losses to the tune of $10 billion. In India Samsung had a market share of 27.8 per cent in the quarter ending March 2015, but by June, it dropped 3.3 per cent, according to Hong Kong-based Counterpoint Research. Despite that, Samsung is in the number one position in India. It’s difficult to say whether the new devices will help it retain that spot, that too with the high price they ask for, a price increasingly being questioned considering other companies are offering advanced tech specs for less than half the price. Having seen most smartphones from these manufacturers I would say they are impressive, but don’t offer the experience of the S6 and Edge devices and certainly not of the iPhones which has an unbeatable ecosystem of its own. Today, Samsung’s four top-end devices have speed and power, design and ergonomic, innovation and capability with its curved screens and stylus, but the finish still needs to give out a message on what is the one strong distinctive reason to pay the asking price in a market now full of options. (This story was published in BW | Businessworld Issue Dated 21-09-2015)
Read More
The first step in healing is never the medicine, but the attitude towards healing, writes Rachna Chhachhi Last evening, over a glass of wine, I met an old friend who had battled cancer two years ago and was sitting in front of me, her laughter as gregarious, her smile as unflinching and her enthusiasm as infectious as ever, if not more. She was older, wiser and unbeaten. And that’s the thing that strikes me about survivors: their spirit. The first step in healing is never the medicine, but the attitude towards healing. Every day one hears of a cousin, friend, colleague who has someone close diagnosed with cancer. As per statistics, urban living is inching towards one in three people with the propensity to get cancer. So how do you ensure that you come out of it alive, kicking, laughing and enjoying your glass of wine? The journey to beating cancer begins with courage. Those who feel, “How can something like this happen to me?” and “I can’t tell the world” have already lost the battle. Raise your head, hold it high, and accept it. Internalising any issue makes us look for solutions. As a potential or existing business leader, your brain is already wired towards problem solving. The moment you accept there’s a solvable problem, the rest is all semantics. The second, and easier step, is to stay healthy while the deadly treatments are working on you. Always remember, every cancer treatment has severe and sometimes debilitating side-effects. So understand how you can minimise the side-effects with your diet, exercise, oxygenation and intake of nutritional supplements. And for heaven’s sake, don’t ask your doctor what to eat. Doctors are trained in administration of chemicals and surgeries for emergency treatment purposes; they cannot tell you how to use food and exercise as a cure. There are cancer exercise experts and nutrition experts like me who are trained in disease management and can give you the right anti-cancer diets. The third and most important step is to stay happy. But how? The body has no energy, the mind feels defeated? The body will get energy if you give it the right nutrients, the mind will feel strong if you build your stamina. On your worst days, get up, have a bath, and tell the person who is most worried about you that you want to go out for a while. Go enjoy a green tea in an outside, fun environment. Eat a lovely anti-cancer meal. Seeing you make the effort will give them hope, and make you feel good. It’s all mind over matter. Cancer is as much a disease of the mind as it is of the body. Unless it’s last stage (and I have seen a turnaround in many of those as well), just negating the side-effects of cancer therapy and a positive mindset are enough to beat it. Go deal with it. And come back and email me. I will surely have a glass of wine with you. Question Of The FortnightSend in your questions to askrachnachhachhi@gmail.com I noticed a sudden advent of white hair when I finished my masters and came back to India from Germany. What are the causes and how can I stop further greying? — Abhishek Singh, Hajipur Dear Abhishek,Premature greying of hair is often caused by nutritional deficiencies and stress. I have noticed this in many students who go abroad to study. They don’t get quality food and enough sleep, and suffer from high stress. The body takes a year to flush out this kind of stress even after normalcy is restored. Eating lots of green leafy vegetables, especially fenugreek, taking calcium-rich foods like eggs, soy, fish and spinach, and reducing stress levels greatly benefits hair quality, colour and growth. The author is a certified nutritional therapist and WHO certified in nutrition. She is the writer of Restore, a book on how to fight diseases for working professionals. Order your copy from amazon.in (This story was published in BW | Businessworld Issue Dated 21-09-2015)
Read More
By Subroto Chattopadhyay Teacher’s have been the fulcrum of Indian civilisation and have been bestowed the most respected status in our hierarchy over centuries. A nuanced and sophisticated descriptor of a teacher is Acharya, and by some definition, the moral compass of an Acharya’s teaching is his or her conduct. On the other hand, it is this continuous tradition of Guru-Shishya relationship and its “parampara”, which is the tradition, that has been the foundation of Indian education. The great Upanishads, which roughly means “sitting down near”, implies that a Shishya sits near a Guru to receive knowledge. This story is about an Acharya, Professor Labdhipat Raj Bhandari aka Labdhi Bhandari (LRB), who graduated from IIM-A in 1965, joined Hindustan Lever in 1967, obtained his Ph.D from Columbia University in 1972 and then taught in IIM-A till 1988. His chosen area of specialisation was marketing. LRB went to a government high school in Sojat in the Pali district of Rajasthan — it was a hindi medium school — and then joined the newly formed University of Jodhpur for his undergraduate programme. In hindsight, it was perhaps his environment and the surroundings that made him sensitive to the realities of smaller towns and villages and their citizens, their aspirations, their responses to various stimuli and their behaviour as consumers. This made his perspective very different from marketers who were city-bred and relied on secondary data and an occasional upcountry tour to understand these markets. AT IIM-A, he faced, by his own admission, familiar challenges due to his lack of fluency in English and his lack of advanced numeric skills due to his background in humanities. To put it in perspective, he found reading cases in English difficult, since Hindi was the medium in his school. His scholastic track record was outstanding and he believed that bright guys need to work hard, contrary to the popular belief that smart guys don’t need to work hard, instead they work smart. His passion to overcome these hurdles is inspirational. He graduated from IIM-A with great grades and evidence that he had the makings of an astute marketing professional. His first, and only job in the corporate world, was with Hindustan Lever, and he went through the rigorous paces in product management and cut his teeth on significant brands of the day like Surf and attendant innovations which brought him to the notice of David Webb the marketing director. It was Webb who hand picked LRB to the marketing research function which was being beefed up. His contemporaries like Hrishikesh Bhattacharya (who happened to be my first Marketing Manager a few years later in Brooke Bond) remember him with respect both as a professional and a caring friend. Though he was A-lister, and fast tracking, LRB was perhaps inspired by Charles Handy’s sigmoid curve of creating a discontinuity due to his internal conflict of “developing management science” and “management in practice”. I quote from LRB papers. “The latter could lead to narrowing of vision, ambition and values with a focus on going up the business hierarchy.” “In an environment where the only expression of one’s achievement is one’s progress in the business hierarchy, climbing up the pyramid assumes supreme importance for most people. Environment being highly competitive, it creates unpleasantness among people one has to work with. One creates enemies every time one climbs a step. I believe it is difficult to enjoy day-to-day work (which occupies most of our time anyway) when you have to work with people who you know resent you.” “I believe that a lot can be done through teaching in terms of focusing the priorities and responsibilities of trained managers, which could have some impact on where these human resources are deployed. It could make a difference between using one’s talents to convince people that one brand of shampoo is better than another, and using the same talents to sell the idea of ‘family planning’ or ‘nutrition’ or ‘small enterprise’.So LRB does the unthinkable. He resigns from HUL and applies to Wharton School and Columbia, and on being accepted by both joins Global Business Program at Columbia University for a Ph.D programme in the fall of 1972. Proffessor John Farly was advisor for LRB’s Ph.D thesis. His research focused on understanding the impact of the rapidly growing Indian population. He won a grant from the Population Division of the Ford Foundation. This supported roots for the so-called ‘social marketing’, which deals with the use of aspects of marketing skills to deal with social matters, such as nutrition and demographics. (Quotes from Prof Farly).LRB returned to IIM-A as faculty in 1976 and for the next 12 years he taught several generations of managers, and advised, consulted and provided thought leadership to students, business leaders and the government. While LRB was from the western seaboard and HUL, I had the privilege of working in the east in Calcutta for another institution, ITC, which is a learning organisation and believes that it needs to ramp up its skills and capability by imbibing from the best. In 1987, ITC was building its brand management structure and requested Professor Bhandari to advice. LRB conducted several workshops which helped flesh out a robust structure to support this strategy. We at the time were drafting the plans for our agri-business division to which I had been seconded. Khokan Mukherjee, the legendary marketing professional, was my wonderful boss and we consulted LRB on this new business we were embarking on. It was, to borrow a phrase from MJ Akbar — a swivel moment: I was his pupil and he was my tutor. He helped me think through a strategy and I discovered how a good teacher can tease the best out of you. Some thought starters were: supply creates demand, sell value and not price, look for a market in the gap. His suggestions were thought provoking and not slogans or clichés. His views then, captured in my notes, reveal the elegance of insights and teaching methods. He did not survive an air crash in 1988, but over the passage of time he is amongst the people who have remained as a watermark in my memory and often times his edict that ‘analytical training can be used to solve life’s real problems’ has proven to be true. To quote Socrates, “I cannot teach anybody anything, I can only make them think...” LRB’s legacy is the knowledge he imparted along with teaching the art of asking the right questions. I believe he fulfils the criteria of being an Acharya in India’s finest tradition. The author is Chairman, The Peninsula Foundation. Inputs have been taken from a blog reconstructing LRB(This story was published in BW | Businessworld Issue Dated 21-09-2015)
Read More
If the Hurriyat is a marginal force, as these very critics claim, then why does India have to worry too much about what we do to further marginalise them.
Read More
Pakistan will be deterred not by any evidence we produce but by the costs that we could impose on it in return, writes Kanwal Sibal
Read More
There was a time when the world caught the flu if the US economy sneezed. That role has now been usurped by China, given that it accounted for 38 per cent of global growth last year, writes Rahul SharmaAs prophecies go, this one seems to be coming true much before the world hoped it would. Last month Ruchir Sharma, head of emerging markets at Morgan Stanley Investment Management who manages more than $25 billion, predicted that the while all global economic recessions in the past five decades were triggered by a slowing of the US economy, the next one will be made in China just like most of the things in the world are today. Rahul SharmaHe was expecting the crisis to arrive over the next couple of years, but it seems to have already made a vicious landfall on the global economic shores if the mayhem in world stock markets ignited by a slowing Chinese economy and a collapse in its equities is any indication. Worse, it could stay around for a while, making it extremely difficult for a country like India – which its finance minister and the central bank governor see as better placed than most other developing economies – to balance its fiscal policies to sustain much-needed economic growth in the face of sputtering financial markets and the currency. China has been the elephant in the room since Lehman Brothers folded up, triggering the last wave of global economic turmoil. It stood out as the biggest contributor to global growth in the past eight years. But now the bubble, long expected to burst due to a mammoth build up of debt, is popping the wrong way. China’s slowdown has been well articulated in recent months. The economic numbers have mostly been fudgy, and nobody really believes any longer that its GDP is growing at 7 per cent. The difficult part is that as the world’s second biggest economy, biggest manufacturer, largest importer of key commodities, and the biggest growth driver, China today holds a much more influential position in the world than it ever did. There was a time when the world caught the flu if the US economy sneezed. That role has now been usurped by China, given that it accounted for 38 per cent of global growth last year. And that is only partly scary. The other part of the story is that investors are beginning to lose confidence in the Chinese government’s ability to control and direct its economy. For long everybody believed that the government in a single party system had the ability to prop up the economy through cash infusion at opportune moments. That happened in the immediate aftermath of the Lehman Brothers debacle in 2008 when the Chinese government opened its monetary tap, pumping in billions of yuans into the economy to keep it stable. However, that meant debt parameters were breached. The headwinds today are largely because of that ill, which built up in the economy silently, but surely. The result: while investors and economists hoped for a soft landing, they heard a huge thud. Yesterday, everything in global financial markets was down as equities went into a free fall and currencies slumped, pushing oil prices to 7-year lows. Wall Street crashed by 1,000 points before recovering. As panic hit the markets, and it usually happens at such times, the global selloff wiped out a staggering $490 billion from emerging markets equity. The only bright spark was gold, which rose, as it reasserted its position as a safe haven. India was not any better off. The rupee breached the 66 to a dollar mark and the stock market dropped by 1,700 points, wiping off a humungous 7 lakh crore rupees in investor wealth and forcing Finance Minister Arun Jaitley and Reserve Bank Governor Raghuram Rajan to tell investors to not fear the global glitch. Jaitley called the phenomenon ”transient” and Rajan assured the markets that the central bank had enough resources at $380 billion in foreign exchange to manage a volatile rupee. The next few days will show how close or far they are from the truth. Meanwhile, the Chinese story seems to have lost much of its sheen. No one is talking of a shift away from a U.S. or Europe-led world to one led by China. And while Beijing has the might to intervene, thanks to its colossus $3.9 trillion reserves and interest rates that are much higher than in developed economies, its hands are tied. Battling between slower growth and high debt, President Xi Jinping has to find a way to arrest the slide in confidence and still retain his power at a time when his fight against corruption is turning friends into foes. Xi needs to tell the world that what was heard was merely a sneeze, not the announcement of the arrival of a long-term disease that will further distress the global economy. He also needs to ensure his power is not diminished in the aftermath of a rout that has hit China’s image of a global power hard. (The columnist is a former newspaper editor. Currently President of Mumbai-based Rediffusion Communications, he also runs www.lookingbeyondborders.com, a foreign policy and global economy blog. Views are personal)
Read More
We need to re-imagine our criminal law to address the wounds of the victims of crimes, not the outrage of the bystander, says Ranjeev C DubeyThere comes a time in everyone’s life when they must stop to radically rethink their priorities. For nations, we call them inflection points, sometimes cultural transformations. For mature managers, we call them midlife crises! In every case, it’s about testing basic ideological assumptions about what we believe we want, or should. India has many institutions that deserve this kind of critical scrutiny. I believe our much respected but deeply troubled legal system is one of them. The problem of course is that like many epic stories, you never quite know where to start, or how far back you should go. Let’s pick just one piece of it: plea bargaining. Plea bargaining is a central part of American jurisprudence. It takes too much time and costs too much money to convict a guy and walk him through the many appeals till he reaches jail: why not make a deal with him and ask him to admit to a lesser crime? That’s what the Americans do, but we Indians frown on this practice because we see it as letting someone off the hook. We just don’t trust the bargainers. We suspect our famously corrupt processes will allow killer drivers to plea bargain convictions for jumping red lights and for politicians siphoning money in Cattle Fodder Scams to plea bargain convictions for inflicting cruelty on animals! Ranjeev C DubeyWhat we get for our upright zero tolerance stance is criminal courts clogged with cases they aren’t going to decide for 20 years. In these twenty years, jailed accused will be rotated through hearings every month in rickety old armoured buses accompanied by dozens of policemen tasked to prevent them from escaping. It’s a huge investment of manpower, automobiles and diesel, with little to show for it. It makes no difference if the accused is on bail. He still goes to court every month, spending one day every four weeks pointless kicking the dust outside the court. Given this well know reality, when the Madras High Court took the initiative to encouraged a ‘compromise’ between rapist and victim in the case of V Mohan v State (Crl.A.No.402 of 2014), it seemed reasonable for us to stop and say: “okay, here a new thought on how to deal with law’s arrears”. Instead, we had twitterati terrorists frothing at the mouth and feminist activists bursting arteries in their anger. The Supreme Court’s reaction a week later echoed the outrage. Justice Deepak Mishra observed that it would be a “spectacular error” to adopt “any kind of liberal approach” in sexual assault cases. Why did everyone find the Madras High Court’s approach so outrageous? Let’s briefly revisit the facts as we know them. The victim is an unwed mother of a baby girl. The accused claims she consented to the relationship. Her consent was irrelevant because she was a minor at the time and the law deemed it a rape anyway. The accused was convicted to a jail term of seven years and ordered to pay compensation of Rs. 2 lakhs as well. The girl is an orphan who lives with an adoptive mother. She faces a very uncertain financial future. I suspect that sending her violator to jail will not materially alter her existential realities. So in a maverick moment of original thinking, the court referred the matter to the mediation centre. It ordered the convict to deposit Rs. 1 lakh in the bank, the interest of which would be paid to the victim. It released the convict on conditional bail and asked him to join the mediation effort. What happened next depended exclusively on the girl because if no solution was found, the convict would be back in jail with little to show for the money he put in the bank. If it worked out, the girl would be financially secure and the guy would be out of jail working hard somewhere to secure the future of his baby daughter. It seemed like a reasonable deal for the girl to make, but ultimately, it was her call. Clearly, what you think of these steps comes down to the narrative you buy into. If you think a violent man brutalized a young virgin deserves whatever the law has in store for him, then its jail or nothing. Ditto if you think this is a nasty Casanova who seduced a mere child. It’s a crime for a man to seduce an impressionable minor but I do think it isn’t quite the same thing as sexually assaulting a girl. This should be relevant to how we think of the crime. Besides, these are cultural constructs, inspiring legal ones. My grandmother married at 16, as did my paternal aunt. Conversely, if you think they were two young people in puppy love who became victims of the law and were then brutalized by the inevitable coercive police process, your response may well be very different. This is why many societies still favour compromise and satisfaction for the victim over state sponsored retribution. In Denmark, Venezuela, Indonesia, Camaroon and Chad, the Legislations provide that if the perpetrator enters into or continues a marriage or registered partnership with the victim after a rape, it gives grounds for reducing or remitting punishment. To my mind, marriage is not germane to the issue, effective solution to the post rape financial issues is. Everyone understands that victims of all crime need help. Sending the perpetrator to jail is not help enough, not by a long shot. State support for victims is gaining in popularity worldwide. India has such measures too but they don’t work well. A study of the Manodhairya Scheme launched in 2013 after the Mumbai Shakti Mills rape case shows that only a handful of victims have been compensated. The State’s Women and Child Development Department disburses the funds to district level committees which receive all the applications and scrutinise them. Rarely do the districts receive adequate funds. In the Pune district for instance, 174 cases of rape and child sexual abuse were registered out of which 122 cases were sanctioned for a total payment of Rs. 3.26 Crores. However, the state paid out only Rs. 1.92 Crores so the district committee decided to compensate only 73 victims, keeping the remaining 49 on the waiting list. At the time of the publication of the report in June 2015, only 17 of 73 victims had actually been compensated. The victims either had no bank accounts or were allegedly untraceable! You could argue that the state is not best structured to provide succour to misfortune or you could argue that there are too many kickbacks blowing in the wind. Either ways, the idea that the state must compensate victims of certain crimes is grounded in the idea that the state is responsible for citizens and must pay because it failed to protect its citizens. Why this should mean that the convict should not pay for the injury he has caused, but cool his heals in jail instead, is less than clear. We hear it argued that allowing convicts to compensate victims of their crimes encourages rich criminals to engage in them knowing they could ‘buy their way’ out of jail. This may well be true but whose choice is this to make: the state, or the victim? Whose injury is it anyway? That takes us to the profile of rape cases now hitting cop stations. How many of them are of strangers befriended on Facebook, followed up by meetings in hotels culminating in allegations of rape? How many others are accusations of rape because consent was obtained on a false promise of marriage? A false promise of marriage is established by the victim’s statement alone and it is marriage she wants. Why not let her have her marriage? Once the accusation is made, the case takes a life of its own where the lady has no more control over what happens next. Events now serve principally to quench the fire in the souls of drum beating women’s activists. If the accused does marry her, what does jail time do for either of them? In many jails across India, especially Delhi’s Tihar Jail, the usual welcome accorded to a rape accused is to be gang raped by hardened criminals within the jail. As I see it, those who demand that rapists be compulsorily sent to jail are really saying they want the rapist to be gang raped in jail. I understand the idea of an eye for an eye, but that still doesn’t help the victim of a crime to heal all wounds. So any which way I look at it, we need to re-imagine our criminal law to address the wounds of the victims of crimes, not the outrage of the bystander. In many circumstances, money for the victim may well be the most appropriate solution. Forcing the perpetrator of a crime to compensate the victim strikes me as the most logical solution. In any case, if the victim is happy to receive a sum of money for the injury suffered, why should a third party (like the law) have any opinion on the subject? (The author is managing partner of the Gurgaon-based corporate law firm N South. He is the author of “Winning Legal Wars” and “Bullshit Quotient: Decoding India’s corporate, social and legal Fine Print”. He can be contacted at rcd@nsouthlaw.com or ranjeevdubey@hotmail.com).
Read More
