Posts from — June 2010

A new movie from India will feature a song by pop singer Shakira, who was on TVs screens worldwide with her World Cup Soccer performance this month. “It will be very sensuous cabaret kind of song” according to the composers, Salim- Sulaiman. Indian media describes it as a frenzied dance track to be filmed on South African model Candice Boucher.

Shakira, "She-Wolf"

Interestingly the star of the yet untitled movie is cricket entrepreneur Sachin Joshi, who is part owner of the Kolkata Knight Riders, an Indian Premier League team.

American entertainers have had significant success in India’s “Bollywood” in recent years. Some time ago,  I commented on Snoop Dogg’s number “Singh is Kingg” which went on to become the top song in India that year.

In September 2009, “She Wolf” the singer’s third English language compilation she said, “I have music from India, the Middle East, a little bit of Colombian influences.”

Shakira from the Oral Fixation tour

India’s government officials are seeking the insight of several prestigious universities from the U.S. and U.K.  as it works to establish the country’s first “innovation institutes”. This discussion was part of a meeting between U.S. Secretary of State Hillary Clinton and Human Resource Development (HRD) minister Kapil Sibal.

Plans include developing places of learning which parallel American Ivy League universities. This undertaking is an effort to provide further information, in areas lacking research within the country, like urbanization, environmental issues, and public health.

14 innovation universities will fill this role with specific areas of study which will include research, distance education, vocational education programs, and continuing education. Universities will differ from others in the country of India with self directed learning models, allowing the university to create academic standards, as well as choose curriculum. Traditionally, universities fall under the guidelines of the country’s Education (HRD) ministry

Several prestigious universities have expressed interest in overseeing programs. Specifically, the Massachusetts Institute of Technology (MIT) could oversee a program focusing on the energy sector. Collaboration between U.S. and Indian universities has a long standing history dating back to the early 1960’s when IIT- Kanpur opened its doors.  IIT Kanpur celebrates its Golden Jubilee this year.

Berkshire Hathaway, promoted by billionaire Nebraska investor  Warren Buffet, will become part of India’s auto insurance market. Berkshire Hathaway will position itself  with an existing Indian corporation, Bajaj Allianz General.  Entrance through an existing corporation is in response to Indian law which prohibits  high level of direct foreign investment in certain industries. Specifically, in the insurance sectors, equity held by foreign direct investment is limited to 26%.

A modest initial investment of approximately $10.9 million (Rs 500 million) will fund operations. Overseeing operations is Ajit Jain, rumored successor of Warren Buffet and an IIT Kharagpur alumnus. Jain oversees Berkshire Hathaway’s reinsurance businesses. Buffett has indicated the possibility of future ventures in the country, scheduled in early 2011.

This venture will make it possible for persons in India to purchase automobile insurance online. Such services are needed in India, given the countries growing middle class population. This particular sector has been the catalyst for an increase in car sales which have skyrocketed over the last decade.

Yesterday, during Indian Prime Minister Manmohan Singh’s visit to Canada to take part in the G-20 summit, India and Canada have signed a nuclear agreement to promote and develop co-operation in civilian nuclear energy. The Nuclear Cooperation Agreement (NCA) will see Canadian uranium exported to India as part of a wide-ranging pledge to increase trade. The agreement also includes co-operation in the fields of nuclear waste management and radiation safety.

Prime Ministers Harper, Singh standing as NCA is signed

Immediately after wrapping up the two-day G20 summit at the Toronto Convention Center, Prime Minister Stephen Harper was off to a bilateral meeting and dinner with Indian Prime Minister Dr.  Manmohan Singh at the Westin hotel. The deal signed Sunday night has been in the works for some time and was discussed when Mr. Harper visited India late last year. Several Conservative cabinet ministers from Harper’s cabinet were hand for the dinner, including Trade Minister Peter Van Loan.  Also,  Dr. Srikumar Banerjee, Chairman of India’s Department of Atomic Energy was on hand for the signature.

Canadian Prime Minister Harper speaks, Indian PM Dr. Singh (in turban) looks on

“India fully reciprocates Canada’s desire to intensify our bilateral relations in all areas,” Mr. Singh said at the dinner.  The two countries expressed their desire to increase annual bilateral trade to $15 billion by 2015 and to encourage two-way flow of investments.

India and Canada are likely to sign a civil nuclear cooperation agreement within the next few days.

“We don’t look back, we look at the future,” Vivek Katju, Secretary (West) with India’s  External Affairs Ministry said on Tuesday this week, “There has been progress on finalizing an agreement on cooperation in nuclear energy.”  Katju is a senior career bureaucrat, a former ambassador to several countries and a member of the Indian Foreign Service, 1972 batch.

Katju confirmed that the nuclear energy agreement would cover sale of uranium as well as areas such as research and nuclear waste management. Asked if the proposed agreement allowed sale of nuclear energy reactors by Canadian companies, Katju referred reporters to the Department of Atomic Energy. According the Indian media,the pact is expected to include this provision. The agreement is expected to be on the lines that India has signed with countries such as the US, France and Russia.

India Expert believes the the G20 summit in Canada this weekend offers the perfect backdrop for the signing of several agreements between Canada and India. The nuclear agreement could have the most impact and open up India’s vibrant market for Canadian purveyors of the “heavy water” technology and expertise which supplies almost all of India’s atomic power today.