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From the Dean Desk Dear Reader,
Tell me and I may forget. Show me and I may remember, Involve me and I may
understand said Confucius ages ago. Students of Spring Summer Batch were taken on
a one day outbound in the month of March. Experiential learning in an outbound is
considered an effective form of learning. It heightens concepts and precepts of inter-
personal communication, team work and leadership through arduous exercises. We
hoped that the lessons learnt were deeply embedded and form the spring board for
enhanced learning.
An electrifying atmosphere was created with the 4P’s quizzing contest. Prof Ram was
the quiz master and he had an electrifying presence amongst students. The idea is to
propel students to participate in cerebral contests held outside campus. This will
increase their IQ, confidence and in turn build the Institute reputation.
Happy Reading!
Prof. Shirani Nayar Dean Academics IIPM- Hyderabad Shirani.nayar@iipm.edu
Dear Reader,
It is rightly said, success is a journey and not a destination. Crucibles has successfully
completed more than one year of its existence and enhancement at IIPM-Hyderabad.
Starting from a two member group and bringing it out to a larger audience. It is not what
we have achieved but how we have achieved, in this process of progress we would like to
mention a few names whose work is now counted in the history or IIPM Crucibles. Aiswarya
Tatapudi, the first editor of E-Zine raising the standers if E-Zine and her own self. A. Nita the
first lady to lead Crucibles as a team and shape our team structure. Khadija Ansar for all the
publicity she had done for Crucibles and coming out with good new strategies on how to
increase our number of readers. Taranpreet Singh for all the hard work and work filled with
innovation in every inch.
Leadership is what it takes for a man to grow and develop people around him. We salute all
leaders congratulating them on their work and for all their future en devours.
For all our readers stay tuned and keep reading to know more on whats goanna happen on
June 10th.
Its a pleasure writing on behalf of my team.
Thank you!!!
G P Manisha Head –Editorial
IIPM Crucibles
Team E-Zine: Praveen Paul Vamsi Tarun N Susmitha
Dev Prakash Varun S. Aijaz uddin Ahmed
From the Editorial Desk
Content
UNION BUDGET 2012-2013
3 Budgetary Allocation to NSDC: A welcome news
7 AKILESH YADAV- the right C.M for Uttar Pradesh??
9 IRANIAN NUKE-OIL
11 COTTON IN INDIA
13 In India - The Customer is a Queen......
15 LIVING LEGEND : LORD SWARAJ PAUL
16
It has made all the right noises about the need to reform and prune subsidies, and even extends
incentives to tax payers. It aims at faster, sustainable and more inclusive growth. But without targets,
Finance Minister Pranab Mukherjee‟s 7th union budget remains a manuscript of good intentions for
the Indian economy.
This is my small analysis of Union Budget 2012-13 from my understandings.
EXPECTATIONS: GDP growth estimated at 6.9 per cent in real terms in 2011-12.
Service tax to generate additional revenue of Rs 18,650 Crore in the budget year 2012-13.
Challenge for this budget year 2012-13 is to get 8% growth rate.
GST expected to be operational by August 2012.
30,000 Crore de-investment target for next year.
This year budget may see FDI in aviation and retail.
HIGHLIGHTS: Fiscal deficit targeted at 5.1 per cent of GDP in 2012-13
Total expenditure = Rs. 14,90,925 crore
Plan expenditure = Rs. 5,21,025 crore (18 per cent higher than 2011-12 budget)
Non-plan expenditure = Rs. 9,69,900 crore.
Gross Tax Receipts estimated at Rs. 10,77,612 crore
Defense services get Rs. 1,93,407 crore
Central government debt will be 45.5% of GDP in Fiscal Year 13.
Widow and disability pension rose from Rs 200 to Rs 300.
Target for Agri Credit increased to Rs. 5,75,000 crore.
Propose to provide Rs 15,888 crore for capitalization of Public Sector Banks.
Customs duty on gold, platinum doubled to 4%; for jewellery doubled to 10%
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PRICES:
S.no INCREASE DECREASE
1 Phone bills, all Automobiles Mobile Spare parts
2 Soaps, Cosmetics and Branded Clothes. Imported LCD,LED TVs, LED and
Solar Bulbs
3 Cigarettes, pan masala and tobacco
products
Movies, Match Boxes, Diapers
4 Refrigerators, ACs and Watches Soya Products, Iodine Salt,
5 Packed, Restaurant Food an air travel. Medical Equipments and Emergency
Medicines
6 Imported Cycles, Spare Parts and
Imported Digital Cameras
Natural Gas, Uranium
7 Gold, Diamond and platinum Silver
TAXES:
Proposes to raise service tax rate to 12 percent from 10 percent on all services except 17
items in the negative list from 2012/13
No change in corporate tax rates
Proposes to provide full exemption on import duty of thermal coal for power plants
Turnover limit for compulsory tax audit for SMEs rose from Rs 60 lakh to Rs 1 crore.
Income tax exemption limit:
S.no Interest Rate Present Proposed Advantage(Rs)
1 Basic Limit (0%) 1.8 lakhs 2 lakhs 1,030 – 2,060
2 10% 1.8-5 L 2-5 L 2,060
3 20% 5-8 L 5-10 L 2,060-22,660
4 30% Above 8 L Above 10L 22,660
EXEMPTIONS IN DIRECT TAXES:
It is not required to file income tax returns for rupees up to 10,000 for interest from
savings bank accounts
Deduction of up to Rs 5,000 for preventive health check‐up
Rajiv Gandhi Equity Savings Scheme: New investors will be allowed deduction from
taxable income of 50% on investment of up to Rs 50,000 directly in shares, provided that
their annual income is below 10lakhs.
-4-
SUBSIDIES:
To keep 2012/13 subsidies under 2 percent of GDP, under 1.7 percent of GDP in the next 3 years
The largest expenditure in fuel and fertilizer subsidies
Major subsidies bill estimated at 1.8 trillion rupees in 2012-13
Food subsidy bill in 2012-13 seen at 750 billion rupees
Fertilizer subsidy bill in 2012-13 seen at 609.7 billion rupees
Petroleum subsidy bill in 2012-13 seen at 435.8 billion rupees
Revised petroleum subsidy bill for 2011-12 at 684.8 billion rupees
To inject 159 billion rupees to capitalize state-run banks in 2012/13
WELFARE SCHEMES:
S.no Scheme Name 2011-
12(cr)
2012-
13(cr)
Assignment
1 Indira Awas
Yojana(IAY)
10,000 11,075 Constructing houses to BPL
people
2 Pradhan Mantri Grameen
Sadak(PMGSY)
18,217 24,000 Constructing roads to Villages
3 Rajiv Gandhi Grameen
Vidyutikaran Yojan
6,000 4,900 Providing electricity to the rural
India
4 Rajiv Gandhi Drinking
Water Scheme
9,350 10,500 Providing Drinking Water
Facility to the uncovered villages
5 Grameen Telephony 2,100 3,000 Developing Broadband services
to 2.5 lac Village Panchayats
6 Rural Sanitation
Programme
1,500 3,500 Providing sanitation in rural areas
7 National Rural Health
Mission
18,115 20,822 Providing proper health facilities
in villages
8 National Rural
Livelihood Mission
(NRLM)
2,914 3,915 To provide self‐employment
opportunities
9 Agriculture 17,123 20,208 Allotted to encourage agriculture
AADHAR:
The prestigious project of India is allotted with 14,213 cr in the new budget.
-5-
BLACK MONEY:
A series of measures have been proposed by the Finance Minister to control the flow of black
money.
Introduction of compulsory reporting requirement in case of assets held abroad.
Allowing for reopening of assessment up to 16 years in relation to assets held abroad.
Tax collection at source on purchase, in cash, of bullion or jewellery in excess of Rs 2
lakh.
Taxation of unexplained money, credits, investments, expenditures etc., at the highest
rate of 30 per cent irrespective of the slab of income.
POLICY REFORMS:
Allow external commercial borrowing of up to $1 bln to raise working capital for
airlines industry for 1 year
To allow qualified foreign investors(QFI) in Indian corporate debt markets
To allow external commercial borrowing to part finance rupee debt in power projects
Proposes to remove sector-specific restriction on venture capital fund investments
LIKES:
More concentration to extend the financial services in the country through Swabhimaan
Campaign, BCs and Rural Banking.
Creating an atmosphere to increase the investments in equities. It helps in reducing the
fluctuations of Share Markets.
DISLIKES:
No provisions were made to encourage R&D activities in India.
No steps are taken to improve the judiciary system of the country.
I think it is not a wise idea to cut down subsidies amount without developing an
effective channel for implementation of welfare schemes.
“Whether or not today’s announcements make tomorrow morning’s headlines
matters little, as long as they help in shaping the headlines that describe India a
decade from now,”
the finance minister said in conclusion of his 110-minute speech. Perhaps, as a veteran of seven
budgets, Pranabda knew how the news will be played out. On that count, Railway Minister
Dinesh Trivedi was better off. With a fare hike, he did what others did not dare for past 10
years- knowing well he was going to lose his job.
Sujeevan Mathew
IIPM/SS/11-13/
-6-
However, this is what I believe: India is
enjoying the benefits of “demographic
dividend” due to fall in birth rates and
improvement in life expectancy; hence, the
availability of employable youths in the
country has increased manifold in the last
two decades. Thus a lot of jobs were created
with outsourcing becoming the buzz word.
Let‟s face it most of the jobs being created
were those which required minimum skill
set.
In a country like India where there is an
emphasis on exams rather than skills at any
level of formal education it is important for
the government to take steps to promote
organizations which aim to enhance skills of
individuals going forward so that the work is
being outsourced is higher on the value
chain. These organizations could very well
run for profit and contribute in the same way
in which NIIT Ltd. has contributed to
overall education. They not only help an
individual to increase his overall
employability but also help improve an
organization‟s competitiveness in the long
run. This pushes the production possibility
frontier outward and takes growth rate of the
country to the next level. Skill building
could also be seen as an instrument to
empower the individual and improve his/her
social position. In today‟s competitive
environment where your competitors can be
from any part of the globe quality of the
product and services seems to be an
important differentiator. The quality to a
great extent depends on the ability of the
work force which in turn depends on the
skill set that the employees possess. Hence,
skill building is often seen as a vehicle to
improve the effectiveness and contribution
of labor to the satisfaction of customers.
National Skill Development Corporation
(NSDC) was created in early 2008 with the
same objectives in mind. It has Union
finance ministry as one of its founders and
aims at training 500 million people by 2022,
and has identified 21 sectors for which 150
million people will be trained by 2022. This
comes as a welcome relief for everyone in
the education sector who believes that
education is all about getting the students
prepared for bigger battles in life and not
about creating walking encyclopedias who
cannot even provide four square meal for his
family. In 2011-12, the National Skill
Development Corporation (NSDC) approved
26 new projects, doubling the projects
sanctioned since 2009 to 52, with a total
-7-
'India has exam system, not education system'
C N R Rao, who heads the Scientific Advisory Council to the Prime Minister (SACPM), made
this statement in a letter to the Prime Minister in April 2011. This hurt the sentiments of lot of
educationists who believed that India was able to face competition from global forces effectively
on job front.
funding commitment of Rs 1,205 crore.
This is a welcome sign for future of skill
development industry in India. To add to
this Skill development received Rs. 1,000
crore as an allocation to the National Skill
Development Fund for 2012-13.
I would like to conclude by saying that it
might be small news compared to the ones
that hogged the limelight with respect to
budget but a giant step in the process of
helping Indian industries move up the value
chain.
Regards
Mr.Abhishek Sinha
Mr.Abhishek Sinha is a visiting
faculty @ IIPM , Hyderabad
-8-
Now the question I have for you all is „did the
U.P janta choose the right C.M or did they
make a mistake? Does he actually deserve to
be in that position? Okay, let‟s have a small
discussion about it.
Here‟s a quick walk-through of his political
career.
He had started his career in 2000 and today in
2012 he has been elected as the C.M of U.P.
Do u think that it‟s his 12 years standing in
politics helped him to be elected as the C.M?
Well, I would say No. or would you say his
father Mulayam Singh Yadav is the hand
behind his winning.
No, maybe not. Akilesh Yadav saw that the
previous Government emphasis in adding
votes to their elections. The concentration
there was on winning the elections by showing
“sweets” to the public rather than actually
finding out what is required for the public and
how can they improve the state.
Akilesh Yadav also tried showing sweets to
public, well its politics; to get public‟s
attention we have to promise them to give
them sweets. But Akilesh promised to give
things that are actually necessary for the state‟s
growth-“EDUCATION”. Akilesh concentrated
on the youth. He had promised to deliver free
laptops to intermediate pass students, but he
was also eyeing on the promises made for
facilitating higher education and ensuring its
accessibility in deprived and poor sections of
the society.
That morning, I switched on a news channel and what I saw was, flashing news, AKILESH
YADAV got elected as the 33rd
C.M of U.P. It was quite surprising for me to see such a young
person being elected. He‟s just 38 and is credited with steering the party to a thumping victory with
224 seats in the 403-member assembly. That‟s like “VOW”! , unlike, Rahul Gandhi who has scored
just it in his 40‟s.
Besides promises of free laptops to high
school graduates and free tablets to everyone
who studies up to the 10th
grade in the state,
the election manifesto of the Samajwadi Party
has also promised free higher education in
private institutions for children from families
that earn less than Rs.500,000 a year. In
addition, to get the youth‟s attention, promise
of unemployment allowance of Rs.1,000 per
month has also been made under the
manifesto.
Now that‟s something I would term as
“SMART”. Because, the U.P Government
really need to show its attention on the youth,
the future of U.P. The youth‟s in the state
require higher education more than
unemployment allowance and it is the
exposure to higher education that could pave
the way for employment. I mean, if there‟s no
proper education, farmer‟s sons will remain
farmers and poor will remain poor. The idea of
improving the education
-9-
and the facilities for education has grabbed
all the attention of the youth, who dream to
study well, with good facilities in a good
college and henceforth be in a good
respectable position. If there are no
education facilities how will the state
grow? Being a young leader, he definitely
understood the need of good education in
today‟s world.
The Government also promised on
improving the public and private sector
electricity production as a priority, and that
within two years electricity will be
available, 20 hours a day in rural areas, and
22 hours a day in urban areas. It would be
interesting to see that happening in the
state. However, if it is achieved, the wheels
of development would move faster and the
state will come out of the BIMARU states
of the country.
The growth of education in the youth, will
automatically lead to the growth of state.
But again I would like to add by saying
that concentrating only on the youth is not
enough. He should be able to concentrate
on every issue of the state that is leading to
the downfall of U.P. I don‟t know how far
students would need tablets in 10th
class,
but instead he can also try building new
educational institutions within the state
with better faculty and facilities, where
students would prefer studying in U.P and
students from abroad also would come and
study here, thereby improving the
standard‟s of education in U.P which will
lead the growth of the state. What the
public would want is a ruler, ruling it the
right way, where-in they would be able to
see the growth of the state and good
public-government relations.
Well, the question whether the U.P jantha
has elected the right C.M or not is left in
the hands of Akilesh to prove. Let‟s wait
and see how he keeps his promises and
how he helps in the growth of the state.
REFERNCES:
http://www.firstpost.com
http://en.wikipedia.org/wiki/Akhilesh_Yadav
Babita 12-14/WIN-3/IIPM-C
2000 Elected to 13th Lok Sabha (elected in bye-election)
Member, Committee on Food, Civil Supplies and Public Distribution
2000-2001 Member, Committee on Ethics
2002-2004 Member, Committee on Science & Technology, Environment & Forests
2004 Re-elected to 14th Lok Sabha( 2nd term)
Member, Committee on Estimates
Member, Committee on Urban Development
Member, Committee on Provision of Computers for MPs, Offices of Parties, Officers of
Lok Sabha Secretariat
5 Aug 2007 Member, Committee on Science & Technology, Environment & Forests
2009 Re-elected to 15th Lok Sabha (3rd term)
31 Aug.
2009
Member, Science & Technology, Environment & Forests
-10-
Iran‟s nuclear program is one of the most polarizing issues in one of the world‟s most volatile
regions. While American and European officials believe Tehran is planning to build nuclear
weapons, Iran‟s leadership says that its goal in developing a nuclear program is to generate electricity
without dipping into the oil supply it prefers to sell abroad, and to provide fuel for medical reactors.
However, on Nov 2011, the IAEA (International Atomic Energy Agency) Board of Governors
rebuked Iran following an IAEA report Iran had undertaken research and experiments geared to
developing a nuclear weapons capability.
Over the years the U.N has imposed four sets
of sanctions that make it more difficult for Iran
to acquire equipment, technology and finance
to support its nuclear activities. The United
States named Iran as an area of primary money
laundering concern and also signed into law
significantly harsher sanctions that target the
Central Bank of Iran. Britain has banned
dealings with Iranian banks including the
central bank and France called for measures on
an "unprecedented scale" over Tehran's
nuclear program. Canada banned the export of
all goods used in Iran's petrochemical, oil and
gas industry and blocked virtually all
transactions with Iran, including with its
central bank. Sanctions preventing purchases
of Crude Oil or Natural gas are also looked
into as a means of pressuring Iran taking into
consideration Oil shocks are not created.
Impacts of these proceedings:
Politically, Iran‟s Islamist dictatorship is under
growing pressure at home and abroad as a
result of its harsh repression, human rights
abuses, support for terrorism, and violations of
its nuclear nonproliferation obligations.
Domestic political opposition continues to
bubble up, threatening the regime‟s long-term
survival. However, Iran‟s nuclear
independence is a popular domestic position
that cuts across political lines.
It is argued that the difficult economic
conditions are contributing to the political
quiescence of Iranian labor because the
working class fears the loss of pay from
participation in demonstrations or regime
retaliation. However, there have been reports
of unrest which include strikes by laborers
due to overdue pay and shutting of stores by
merchants who are having trouble obtaining
trade financing, insurance and shipping
availability.
In the U.S, with the elections underway, the
Republicans criticized the Congress
administration‟s stance as too conciliatory
-11-
and rose the slogan „If we re-elect Barack
Obama, Iran will have a nuclear weapon.
And if we elect Mitt Romney, Iran will not
have a nuclear weapon‟ Iranian economy
depends on Export-Import activity, so the
damage to the merchant community from
International sanctions has been considerable
according to a study by IMF (International
Monetary Fund). The painful economic
results of Western sanctions are hurting
Iranians by causing increased shortages,
unemployment and inflation. The shut out of
the Iranian central bank form the global
financial system, raises the cost incurred by
Iran for financing its transactions which
caused major international firms to exit Iran.
Iran‟s currency, the rial, has plunged in value
against the dollar to an all-time low. Study
has, however, also indicated that Iran‟s GDP
rate currently at 3.5% was growing at a
steady rate with positive credits to the
government‟s privatization program. The
International sanctions in turn, have also
helped the Iranian government to phase-out
subsidies on staple goods such as gasoline
and some foods over a long term period.
Iran‟s energy sector is considered the engine
of its economy with it sourcing nearly 70%
of the government revenue. Sanctions have
also hurt Iran‟s economy as a whole by
diminishing oil export payments.
However, there seems to be a two sided
effects on Sanctions against purchasing oil
from Iran – Some of the European nations
have already paid for the Iranian oil in
advance (Italy) and Iran also serves as a
few nations that can supply oil to debt
ridden European nations (Greece) on credit.
It would take several months for the
European Union embargo on Iranian crude
oil to take place. With trade agreements and
no barriers from the Chinese and the Indian
Governments (two largest importers of
Iranian oil), Iran will need to cover for its
loss in revenue by supplying its crude and
lower or discounted rates to new prospects
or existing customers in order to retain
them.
There probably won‟t be any immediate
military impact on Iran (which could prove
to be fatal for the already weakened world
economies and falling growth rates of the
developing economies). However, Iran
makes it clear it would stand tall against
any external violence.
C.V.N.Abhishek
FW/PGP/10-12
-12-
Cotton is something that has been with us
from ages. It is the principle crop of India.
Now what amused me is that why did the
government want to ban export of cotton?
What about the employment of farmers and
workers in the industry? Where would they
go if they stop the export of cotton? Let us go
to the history of cotton.
Cotton is one of the principal crops of India
and is the major raw material for domestic
textile industry. The Indian Cotton Industry
provides employment to millions of farmers
and also the workers involved right from
processing to trading of cotton. Cotton has
more demand in the Indian textile industry as
compared to other fabrics.
The first cotton mill was established by James
Landon in 1854 in Bombay. India is the
second largest exporter of cotton. According
to Foreign Agricultural Service(FAS),India‟s
export for last 3 yrs was 1 million 480
pounds bales of cotton. India imports more
than 1 billion bales of cotton each year. The
production has increased from 13.5 million
bales to 19.5 bales in 2012.
The profit increased from 8-9 million to 12.2
million in 2011/12.Production has doubled
from 11-12 million bales annually to 27
million bales in 2011/12.Now my question
here is there a growth in the profit? Why
would the government want to cut down on
the profit? What was the logic behind this
proposal?
This is a little more about cotton. It
contributes about 14% to the industrial
production, 4% to the GDP and 14.42% to the
country's export earnings. India is the only
country which grows all four species of
cultivated cotton starting from
Gossypiumarboreum and herbaceum (Asian
cotton), G.barbadense (Egyptian cotton) and
G.hirsutum (American Upland cotton).
Gossypiumhirsutum represents 90% of the
hybrid Indian cotton production and all the
current BT cotton hybrids are G.hirsutuim.
India produces large number of cotton
varieties and hybrids. Though the number of
varieties in cultivation exceeds 75, 98% of the
production is contributed by about 25 varieties
only.
Here comes the role of government!
The government imposed a ban on export on
cotton as cotton shipped, exceeded its target
for the current fiscal yr of 84 lakh bales. After
the export ban order was partially roll backed,
the government says exports would be
allowed under open general licence but no
new registration certificates (RCs) are to be
issued for now. Besides, RCs issued earlier
would now have to be revalidated before any
export can be done. . India cannot limit
exports without having serious market
impacts. India‟s credibility and reliability is at
stake and the policies of the government will
further have an adverse/negative effect on the
export of cotton.
-13-
Cotton prices have already crashed to Rs.3400
a quintal, Because of the partial rollback by
the government. State run Cotton Corporation
of India (CCI) is keeping a watch on prices
due to partial roll back. The CCI will
intervene and start procurement when price
reach the minimum support price level of
Rs.3300,a quintal as done In Andhra Pradesh.
The International Cotton Association has
urged the ministry of commerce and industry
to make a revamp. The ICA has warned that
there will be serious consequences which may
harm the world cotton trade. The damage
could be more to the Indian exporters because
of contracts with open letters of credit &
prepayments,& cotton is in the process of
being shipped. Customers will suffer a huge
loss because they are depending on the cotton
imported from India.
The ban on cotton exports, which has since
been partially revoked. The commerce
minister said that they had to do it due to the
High cotton prices overseas. They have
encouraged farmers to export cotton. Because
of this, the domestic industries had to suffer.
But the traders in India do not agree,
according to them there is enough surplus for
exporting purpose
Anand Sharma has said that the export of
cotton is possible only if there is a surplus.
Commerce and Textiles Minister, Anand
Sharma has written a letter to Agriculture
Minister Sharad Pawar seeking a hike in the
minimum support price of cotton.
At present, the minimum support price
(MSP) of cotton is between Rs 2800-3,300
per quintal depending on staple length for
the current season (October-September)."
On March 12, a delegation of MPs from
cotton producing states like Maharashtra
and Gujarat had met Sharma demanding a
hike in the MSP. The CACP (Commission
for Agricultural Costs & Prices) is a
statutory body and advises the government
on the pricing policy for major farm
produces. The country's cotton production
is expected to be a record 34 million bales
(of 170 kg each) in the 2011-12 crop year
(July-June).
This whole article would have explained
you about the importance of cotton in India
which most of us had no idea about. The
second thing is “what‟s wrong with the
government?” why did it first ban the
export of cotton when there where good
profits, and since then there had been
downfall in the profit‟s, and after the
downfall it again took back its initial
decision. Why did the commerce minister
not consult anybody before the ban and
after removing the ban impose restrictions,
which will affect the credibility of India as
an exporter. Should the government try to
improve its country‟s profit or reduce it?
What are they trying to do. Something
which all of should think about.
DEEPTI GUPTA WIN-3/12-14/ISBE-E
-14-
In India - The Customer is a Queen...... Ever since I heard the term Marketing, I have
been said that in any business "Customer
is a King"
But I feel, in developing countries and under-
developed countries it would be more
appropriate if we use the concept in a little
different way stating that "Customer is not
a King, but Customer is a QUEEN"
That is what I am going to talk throughout
this as to why I think the customer is Queen
irrespective of customers being both male and
female.
I request you to kindly note that I am writing
this with respect to the developing and under-
developed Nations.
Let us consider a country like India; if we
carefully observe here most of the buying
activities are done by the feminine gender
majority of whom being house wives or who
are learning home science. There may be
majority of you who would not agree to this
fact on the basis that if we consider the hard
or capital goods, the purchasing is done by
the male gender or the man of the family, but
there is a little addition to it.
Yes, the purchase in terms of capital and
expensive goods is done by the man of the
house but in developing countries this
decision is made by the women sitting at
home, the man just executes the process of
buying.
I still remember when my grandparents used
to buy gold, vehicles or houses they used to
consult their wife, mother and sisters about
which brand to buy and all. Till date many of
my home decisions on buying is taken by my
mother and that's the same case with majority
of friends.
Just go around and see how women buy at a
vegetable market or a garment shop in your
city or locality and you will find that it is
really a tiresome task to influence women to
buy. They want to have even the minute
bargain possible, which if not provided at
their comfort will result in product switching.
Therefore it becomes really tough for the
marketers to design and execute strategies in
such kind of environment.
Let me quote something really funny and
important for all of you who might be
thinking that lets us now develop strategies to
influence women to buy:
The quote goes like this :
"God Created Earth and slept well, then
God created Man and slept well, finally God
created Women, there after neither he slept
well nor the man"
Therefore see the market from the point of
view of "Customer is Queen", I have started
seeing, I hope you too do.
Regards, Rohit Tiwari
Mr. Rohit is a guest writer from Aurora College
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There are the large number of Indian-born people who have made it big in the countries of
their adopted nationalities in various fields of human endeavour. Among them, Lord Swaraj
Paul, presently a British citizen, holds a prominent place. He is the 88th
richest person in
Britain today. According to the Sunday Times rich list.
Mr. Paul was born in a small business family
in Jalandhar, Punjab in 1931. At the time of
his birth, his father ran a small foundry
which made steel buckets and farming
equipment‟s. Mr. Paul got his early
education in Punjab University. Later on, he
joined Massachusetts Institute of
Technology, USA. He obtained an M. Tech.
degree from there in Mechanical
Engineering.
Mr. Paul returned to India and joined
Apeejay Group, which his father had
founded. As the group‟s business expanded,
he took the reins of Apeejay Overseas and
relocated permanently to London in 1966.
After the Apeejay partition, he rechristened
the company as Caparo. He started with the
acquisition of only one steel unit and later
on, went on to acquire several units and gave
the conglomerate a new name, the Caparo
Group in 1968. His group developed in to
one of the leading producers of welded steel
tube and spiral welded pipe in the United
Kingdom. He ran the group‟s business
successfully for 28 years and finally stepped
down from the management of the group in
1996. Subsequently his three sons took over
from him.
Mr. Paul had been the pro-Chancellor of
Thomas Valley University (1998) and it‟s
Governor (1992-1997). He has also been the
Chancellor of University of Wolverhampton
and the University of Westminster as well.
His family trust has donated £ 300,000 to
the latter. Besides, he was a member of the
Foreign Policy Centre Advisory Council,
and Massachusetts Institute of Technology
(MIT‟s) Mechanical Visiting Committee.
He was the chairmen, Olympic Delivery
Committee, too. He has been assigned the
responsibility of initiating measures to
acquire land and provide infrastructure for
the London Olympics 2012.
Mr. Paul was the first person of Indian
origin to hold the post of Deputy Speaker of
the House of Lords. He was conferred
Knighthood by the British Queen in the year
1978 and has been called Lord Paul of
Marylebone thereafter. He was honored
with the Asian Woman Magazine Lifetime
Achievement Award in 2008. He is also an
honorary patron of the Zoological Society
of London and has funded major projects at
the Regent‟s park site.
Mr. Paul has received various awards and
honours in India also. The third most
prestigious civilian award, Padma Bhushan
was conferred on him in 1983 and the
Indian Merchant‟s Chamber has also
presented him “Bharat Gaurav”.
Throughtout his life, Mr. Paul has made
headlines from time to time the world over.
Recently, on December 13, 2011, Lord Paul
was conferred the lifetime Achievement
Award by an Indian company
„Powerbrands‟, for his outstanding
contributions in various field.
VAMSITARUN
PGP/SS/11-13/IIPM-A
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I Love Crucibles ………..
Crucibles is a not only an academic club for me but the place where, I grew and
got to know my capabilities and potential. It has given me my name and
existence in IIPM. I feel proud to be called as Crucible member and most of
my juniors recognize as a crucible member only. It gave me a chance to meet new
people and become friends with different kind of people.
We have nurtured crucible as our baby. I still remember the first event we did
independently. We all where the group of people with loads and loads of
enthusiasm and dreams to make Crucibles big. That was the time we arrived and
from there it started 5th June 2011 the day will be one of day which I will
cherish for my lifetime
To my co-members I just want to say thanks all for your support and sharing
a very healthy relation with me.
Wish Crucibles all the success ahead and may it fulfill all its dreams which we
have carved for it.
Crucibles will be one of the things which I will remember for my lifetime and not
only cherish but also respect it.
Regards.....
Taranpreet Singh Muchal
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