500 Technical Colleges May Face Closure Mint 150411
2
mint www.livemint.com FRIDAY, APRIL 15, 2011, DELHI03 Leading the News 500 technical colleges may face closure over violations The ministry official said the concerned authorities have al- ready prepared a report based on the “surprise raids” and are hearing what the erring insti- tutes have to say. “We believe in fair play and hence have giv- en a chance to these colleges to give their version. At least 210 such colleges have already made their points by person to the AICTE.” The move has come nea rly one-a nd-a -half -year s after the University Grants Commission, ® FROM PAGE 1 the key university education reg- ulator, “black listed ” 44 deemed universities for faili ng quali ty and infr astru cture para meters . The deemed univ ersit y issue is now pendi ng in the Supreme Court following these inst itutes moving court. After he aring the colleges, the expert panel, comprising 21 ex- perts and officials from the tech- nical education field, will decide on how many should be sent clo- sure notices, the official added. Both AICTE and the ministry official said the names of the in- stitutes would be made public aft er the ent ire pro cedure is completed. Without giving names, Hada said at least 10 colleges have al- ready been served the withdraw- al-of-approval notice. “This is a first-of-i ts-ki nd step by AICTE. We want fair play for all—stu- dents, parents, educational insti- tutes and the education system. They are free to appeal again.” The surprise checks are con- ducted by three persons—two educa tiona l exper ts and an ar- chitect. They verify several cre- denti als such as land trans fer and ownership, building plans, infrastructure, quality of educa- tio n and fac ult y amo ng other things. The ministry offici al says of the 500 colleges, a major ity of them are teachi ng engin eerin g and management courses. States suc h as Andhra Pradesh and Tamil Nadu lead in the number of colleges being examined. There are some 8,000 techni- cal education institutions in the country, with at least two million students pursuing technical edu- cat ion cou rse s. An est ima ted 50,00 0 stude nts are enrol led in the 500 colleg es under scanner, according to the ministry official. Once an institute faces closure, the concerned state government will be responsible for shifting the students to another institute, the official said. Such scr uti ny is cri tic al for main taini ng stan dards , said J. Veeraraghavan, a former educa- tion secretary. “Powerful people are running professional colleges. (They) are making money and AICTE must come down hard on them,” he said. “I believe AICTE should en- gage in constant inspection and work with them with a focus on subs t an ce in curr ic ula and teaching methods.” The quality checks should be condu cted by permanent em- ploye es rathe r than temporary ones as is the pr actice now, Veeraraghavan added. AICTE was cleaned up after some of its top officials were ar- rested for corruption in 2009. Af- ter their remov al, the mini stry restructured the council, which has tak en severa l pro -ac tiv e measures to streamline the tech- nic al educat ion sector in the country in the last 18 months. The most important of these was the e-application and e-approval system adopted by AICTE since the last academic session. It also asked all colleges for details of both physical and intellectual in- frastructure, including details of faculty and their qualifications. 1. Academy of Maritime Education and Training, Chennai, Tamil Nadu 2. Bharath Institute of Higher Education and Research, Chennai, Tamil Nadu 3. BLDE University, Bijapur, Karnataka 4. Chettinad Academy of Research and Education, Padur, Tamil Nadu 5. Christ College, Bangalore, Karnataka 6. DY Patil Medical College, Kolhapur, Maharashtra 7. Dr MGR Educational and Research Institute, Chennai, Tamil Nadu 8. Graphic Era University, Dehradun, Uttarakhand 9. Gurukul Kangri Vishwavidyalaya , Haridwar,Uttarakhand 10. HIHT University, Dehradun, Uttarakhand 11. Institute of Advanced Studies in Education of Gandhi Vidya Mandir, Sardarshahr, Rajasthan 12. Jain University, Bangalore, Karnataka 13. Janardan Rai Nagar Rajasthan Vidyapeeth, Udaipur, Rajasthan 14. Jaypee Institute of Information Technology, Noida, Uttar Pradesh 15. Kalasalingam Academy of Research and Education, Virudhunagar, Tamil Nadu 16. Karpagam Academy of Higher Education, Coimbatore, Tamil Nadu 17. Krishna Institute of Medical Sciences, Satara,Maharashtra 18. Lingaya’ s University,Faridabad,Haryana 19. Maharishi Markandeshwar University, Ambala, Haryana 20. Manav Rachna International University, Faridabad,Haryana 21. Meenakshi Academy of Higher Education and Research, Chennai, Tamil Nadu. 22. Mody Institute of Technology and Science, Sikar, Rajasthan 23. National Museum Institute of the History of Art, Conservation and Museology,Delhi 24. Nava Nalanda, Nalanda, Bihar 25. Nehru Gram Bharati Vishwavidyalaya , Allahabad, Uttar Pradesh 26. Noorul Islam Centre for Higher Education, Kanyakumari, Tamil Nadu 27. Periyar Maniammai Institute of Science and Technology, Thanjavur, Tamil Nadu 28. Ponnaiyah Ramajayam Institute of Science and Technolo gy, Thanjavur, Tamil Nadu 29. Rajiv Gandhi National Institute of Youth Development,Sriperumbudur,Tamilnadu 30. Santosh University, Ghaziabad, Uttar Pradesh 31. Saveetha Institute of Medical and Technical Sciences, Chennai, Tamil Nadu 32. Shobhit Institute of Engineering and Technolog y, Meerut, Uttar Pradesh 33. Siksha Anusandhan, Bhubaneswar, Orissa 34. Sri Balaji Vidyapeeth, Puducherry 35. Sri Devaraj Urs Academy of Higher Education and Research, Kolar, Karnataka 36. Sri Siddhartha Academy of Higher education, Tumkur, Karnataka 37. St Peter’s Institute of Higher Education and Research, Chennai, Tamil Nadu 38. Sumandeep Vidyapeeth, Vadodara, Gujarat 39. Tilak Maharashtra Vidyapeeth, Pune, Maharashtra 40. Vel Tech Rangarajan Dr Sagunthala R&D Institute of Science and Technolo gy 41. Vel’s Institute of Science, Technology and Advanced studies (VISTAS), Chennai, Tamil Nadu 42. Vignan’s Foundation for Science Technolog y and Research, Guntur, Andhra Pradesh 43. Vinayaka Mission Research Foundation, Salem, Tamil Nadu 44. YenepoyaUniversity,Mangalore, Karnataka A Central government panel had “blacklisted” the following 44 deemed universities, which had moved the Supreme Court against the decision. Source: Mint research FUTURE TENSE BRICS SUMMIT Leaders call for supervision in commodity markets BLOOMBERG feedb ack@li vemin t.com ························· SANYA, CHINA T he leaders of Brazil, Russia, India, China and South Af- rica said exces siv ely volatile commodity prices pose a threat to the global economy and called for greater regulation of derivatives markets. The leaders also express ed misgivings about NATO-led air stri kes in Liby a and urged an end to the fighting which, to- gether with political unrest else- where in the Arab world, has added to the global uncertainty. Volatility poses new risks for the ongoi ng rec ove ry of the world economy, the leaders said, according to a communi- que from their summit in the Chinese resort of Sanya. BRICS, as the five are known , also called for greater vigilance over the impact of the flow of capital from developed economies into emer ging mark ets and agre ed on a plan to make more loans in local currencies. Risi ng food and fuel pric es are pressuring importers such as China and Indi a to hold down prices for their 2.6 billion people. Exportin g countries such as Brazil, Russia and South Africa are benefiting from the trade, yet are conc erne d that over-reliance on resources will stif le div ersi fica tion of thei r economie s, leav ing them vul- nerable should demand drop. The fiscal outlook for emerg- ing economies is more favoura- ble, but this reflects in part the modi ty pri ces , low i nt e re s t rates, and strong capita l in- flows, the International Mone- tary Fund (IMF) said in a report this month. A reve rsal could leave fiscal position s exposed. Chin a is the world’s bigges t importer of soyabeans and con- sumer of energy, depending on imported oil to fuel economic growth. India, where millions of people live in poverty, has also expressed concern over rising food prices. Regulation of the derivatives market for commodities should be accordingly strengthened to ent acti viti ble of ment said. This year China is forecast to import 57 million tonnes of soy- abeans, or almost 60% of global trade in the animal-feed and tofu ingredien t. The BRICS commun ique called for greater cooperatio n on food security to redress the lack of timely and reliable infor- mation on supply and demand. The internati onal community needs to work together to in- crease production, boost fund- ing and technologica l support to developing countries as part of establishing a more equitable and fair world, it said. heads of the development banks of the fiv e count rie s agreed to work on a plan to in- crease the use of local curren- cies when making loans to each other. “We talked about h ow to mov e fast er to using nati onal currencies,” Russian President Dmitry Medvedev said. “I just had a meeti ng wit h Brazi l’s President (Dilma Rousseff) and we agreed to intensify w ork on a possible switch. We could think through such a system with all BRICS countries .” The combined gross domes- tic product (GDP) of the five US economy by the end of 2014, according to IMF projections . The eurozone will be overtaken this year, the data showed. By 2016, the BRICS countries will have a combined GDP of $21 trillion compared with a projec- tion of $18.8 trillion for the US, according to the IMF. Medv edev and Rousseff are joined at the Sanya summit by South African President Jacob Zuma , Indi an Prime Minister Manmohan Singh and Chinese President Hu Jintao. Hu and the other BRICS lead- ers also calle d for more atten- tio to the risk of ssi said the IMF should continue to look to overhaul the role of Spe- cial Drawing Rights as an inter- national reserve currency sys- tem. The gove rni ng structure of the international financial insti- tuti o ns s ho ul d reflect the changes in the world economy, increasing the voice and repre- sentation of emer ging econo- mies and developing countries, the communique said. Reuters contri buted to this story. Voicing concerns: (From left) Indian Prime Minister Manmohan Singh, Russian President Dmitry Medvedev, Chinese President Hu Jintao, Brazilian President Dilma Rousseff and South African President Jacob Zuma at the BRICS summit in Sanya on Thursday. CHANGE OF GUARD Kapoor named CEO of Reckitt Benckiser B Y S AP NA A GARWAL [email protected] ························· MUMBAI R akesh Kapoor has bee n named to t ak e over as chief executive officer (CEO) at consumer packaged goods company Recki tt Benck iser Group Plc, the company said on Thursday. He will become the latest ex- ecutive of Indian origi n to make it to the top post of a global company in r ec e nt times, joi ning I n dr a Nooyi, chairman and chief executive officer Peps iCo Inc.; and Vikram Pandit , CEO of Citi- Group Inc. Kapoor, 52, will take over as chief executive from Septem- ber, replacing Bart Becht who will retir e afte r 16 years at the helm. Becht will stay on as a par t-ti me adviser to Kapoor and on the company board un- til September 2012. An MBA from XLRI, Jam- shedpur, and an engineering graduate from the Business In- stitute of Technical Studies (BITS), Pilani, Kapoor honed his management skills in his home country. Kapoor joined the company in 1987 as regional sales man- ager, northern India, and held variou s positi ons in the coun- try before moving to a global posting in 1996. He was ap- pointed to the executive com- mittee in 2006 to lead global powerbrand strategies and in- novations, both of which have dri ven Reck itt B e n ck i se r ’ s growth faster than the industry average. Kapoor currently holds the post of executiv e vice-presi- dent, global category develop- ment. “I am delighted to take on this role and very much look forward to leading the busi- ness to its next stage of growth and perf ormance ,” Kapoor said in the press statement. He was one of the architects of the Boots Healthcare Inter- nati onal Ltd acqui s it i on in 2006, which transformed Reck- itt Benckiser into a global con- sumer heal thcare company. He has been equally involved in the recent SSL International Plc and Guajarat-based Paras Pharmaceuticals Ltd acquisi- tions. Shares of the FTSE 100 com- pany, known for its global brands such as Finish, Lysol, Dettol and Vanish, fell sharply, reacting to the news develop- ment. Sanya,China: Chinaon Thursd ay recor dedits reco gniti onof India ’s “status ” inglobalaffairsand saidit “suppo rts”india’ s “aspi ratio n” to pla ya gre ate r rol ein theworl d body , anexpressio n thatcouldbe seenas a stepforwardtoward s backin g NewDelhi’ s bidfor a perman entseat onthe Unite d Natio ns Securi tyCouncil. China ’spositi onwas refle cted ina decl arati onissuedhere aftera summitofBrazil,Russia,India, Chinaand SouthAfrica,the so-cal ledBRICSnations,while refer ringto theneed for compr ehensi vereformsat theUN, includ ingthe Securi tyCouncil,to makeit “moreeffect ive,effici ent andrepresent ativeso thatit can dealwith today ’sglobalchalle nges more successfully.” PTI China backs India’ s UN ‘aspirat ion’ Long stint: Rakesh Kapoor. Sanya,China: Ina signif icantstep towards enhanced economic coop erati on,the BRICSnation s signe d onThursdayan agree ment thatwillenablethem toprovide credi t toeach otherin local curre nciesand coll abora tein capit almarketsand otherfinanci al services. Theagreemen t wassignedby thedesignate d banksof thefive count riesat a summithere. Thepactwassign edintune withthe BRICScountr ies’ commitmen t toincreased coop erati onin econo mic,finance andtrademattersto suppo rt their sustained national economic growt h andcontribut e tothe “long -termsteady , soundand balan cedgrowthof theworld economy”. PTI BRICS to use local currencies for credit ALSO SEE R EUTERS/ PIB
-
Upload
dr-vidya-s-sharma -
Category
Documents
-
view
213 -
download
0
Transcript of 500 Technical Colleges May Face Closure Mint 150411
7/29/2019 500 Technical Colleges May Face Closure Mint 150411
http://slidepdf.com/reader/full/500-technical-colleges-may-face-closure-mint-150411 1/1
mint
www.livemint.com FRIDAY, APRIL 15, 2011, DELHI03
Leading the News
500 technical colleges mayface closure over violations
The ministry official said theconcerned authorities have al-ready prepared a report basedon the “surprise raids” and arehearing what the erring insti-tutes have to say. “We believein fair play and hence have giv-en a chance to these collegesto give their version. At least
210 such colleges have already made their points by person tothe AICTE.”
The move has come nearly one-and-a-half-years after theUniversity Grants Commission,
® FROM PAGE 1 the key university education reg-ulator, “blacklisted” 44 deemeduniversities for failing quality and infrastructure parameters.The deemed university issue isnow pending in the SupremeCourt following these institutesmoving court.
After he aring the colleges, theexpert panel, comprising 21 ex-perts and officials from the tech-
nical education field, will decideon how many should be sent clo-sure notices, the official added.
Both AICTE and the ministry official said the names of the in-stitutes would be made public
after the entire procedure iscompleted.
Without giving names, Hadasaid at least 10 colleges have al-ready been served the withdraw-al-of-approval notice. “This is afirst-of-its-kind step by AICTE.
We want fair play for all—stu-dents, parents, educational insti-tutes and the education system.They are free to appeal again.”
The surprise checks are con-ducted by three persons—twoeducational experts and an ar-chitect. They verify several cre-dentials such as land transferand ownership, building plans,
infrastructure, quality of educa-tion and faculty among otherthings.
The ministry official says of the 500 colleges, a majority of them are teaching engineeringand management courses. Statessuch as Andhra Pradesh andTamil Nadu lead in the numberof colleges being examined.
There are some 8,000 techni-cal education institutions in thecountry, with at least two millionstudents pursuing technical edu-cation courses. An estimated50,000 students are enrolled inthe 500 colleges under scanner,according to the ministry official.Once an institute faces closure,the concerned state government
will be responsible for shiftingthe students to another institute,the official said.
Such scrutiny is critical formaintaining standards, said J.
Veeraraghavan, a former educa-tion secretary.
“Powerful people are runningprofessional colleges. (They) aremaking money and AICTE must
come down hard on them,” hesaid. “I believe AICTE should en-gage in constant inspection and
work with them with a focus onsubstance in curricula andteaching methods.”
The quality checks should beconducted by permanent em-ployees rather than temporary ones as is the practice now,
Veeraraghavan added. AICTE was cleaned up after
some of its top officials were ar-rested for corruption in 2009. Af-ter their removal, the ministry restructured the council, whichhas taken several pro-activemeasures to streamline the tech-nical education sector in thecountry in the last 18 months.The most important of these wasthe e-application and e-approval
system adopted by AICTE sincethe last academic session. It alsoasked all colleges for details of both physical and intellectual in-frastructure, including details of faculty and their qualifications.
1. Academy of Maritime Education and
Training, Chennai, Tamil Nadu
2. Bharath Institute of Higher Educationand Research, Chennai, Tamil Nadu
3. BLDE University, Bijapur, Karnataka
4. Chettinad Academy of Research and
Education, Padur, Tamil Nadu
5. Christ College, Bangalore, Karnataka
6. DY Patil Medical College, Kolhapur,
Maharashtra
7. Dr MGR Educational and Research
Institute, Chennai, Tamil Nadu
8. Graphic Era University, Dehradun,
Uttarakhand
9. Gurukul Kangri Vishwavidyalaya,
Haridwar, Uttarakhand
10. HIHT University, Dehradun, Uttarakhand
11. Institute of Advanced Studies in Education
of Gandhi Vidya Mandir, Sardarshahr,
Rajasthan12. Jain University, Bangalore, Karnataka
13. Janardan Rai Nagar Rajasthan
Vidyapeeth, Udaipur, Rajasthan
14. Jaypee Institute of Information
Technology, Noida, Uttar Pradesh
15. Kalasalingam Academy of Research and
Education, Virudhunagar, Tamil Nadu
16. Karpagam Academy of Higher
Education, Coimbatore, Tamil Nadu
17. Krishna Institute of Medical Sciences,
Satara, Maharashtra
18. Lingaya’s University, Faridabad, Haryana
19. Maharishi Markandeshwar University,Ambala, Haryana
20. Manav Rachna International University,
Faridabad, Haryana
21. Meenakshi Academy of Higher
Education and Research, Chennai, Tamil
Nadu.
22. Mody Institute of Technology and
Science, Sikar, Rajasthan
23. National Museum Institute of the
History of Art, Conservation and
Museology, Delhi
24. Nava Nalanda, Nalanda, Bihar
25. Nehru Gram Bharati Vishwavidyalaya,
Allahabad, Uttar Pradesh
26. Noorul Islam Centre for Higher
Education, Kanyakumari, Tamil Nadu27. Periyar Maniammai Institute of Science
and Technology, Thanjavur, Tamil Nadu
28. Ponnaiyah Ramajayam Institute of
Science and Technology, Thanjavur,
Tamil Nadu
29. Rajiv Gandhi National Institute of YouthDevelopment, Sriperumbudur, Tamilnadu
30. Santosh University, Ghaziabad, UttarPradesh
31. Saveetha Institute of Medical and
Technical Sciences, Chennai, Tamil Nadu
32. Shobhit Institute of Engineering andTechnology, Meerut, Uttar Pradesh
33. Siksha Anusandhan, Bhubaneswar,
Orissa
34. Sri Balaji Vidyapeeth, Puducherry
35. Sri Devaraj Urs Academy of Higher
Education and Research, Kolar, Karnataka
36. Sri Siddhartha Academy of Higher
education, Tumkur, Karnataka
37. St Peter’s Institute of Higher Education
and Research, Chennai, Tamil Nadu
38. Sumandeep Vidyapeeth, Vadodara, Gujarat
39. Tilak Maharashtra Vidyapeeth, Pune,
Maharashtra
40. Vel Tech Rangarajan Dr Sagunthala R&D
Institute of Science and Technology
41. Vel’s Institute of Science, Technology and
Advanced studies (VISTAS), Chennai,Tamil Nadu
42. Vignan’s Foundation for Science
Technology and Research, Guntur,
Andhra Pradesh
43. Vinayaka Mission Research Foundation,
Salem, Tamil Nadu
44. Yenepoya University, Mangalore,Karnataka
A Central government panel had “blacklisted” the following 44 deemed universities, which had moved theSupreme Court against the decision.
Source: Mint research
FUTURE TENSE
BRICS SUM M IT
Leaders call for supervision in commodity marketsBLOOMBERG
feedb ack@li vemin t.com·························SANYA, CHINA
The leaders of Brazil, Russia,India, China and South Af-
rica said excessively volatilecommodity prices pose a threatto the global economy andcalled for greater regulation of derivatives markets.
The leaders also expressedmisgivings about NATO-led airstrikes in Libya and urged anend to the fighting which, to-gether with political unrest else-
where in the Arab world, hasadded to the global uncertainty.
Volatility poses new risks forthe ongoing recovery of the
world economy, the leaderssaid, according to a communi-que from their summit in theChinese resort of Sanya. BRICS,as the five are known, alsocalled for greater vigilance overthe impact of the flow of capitalfrom developed economies intoemerging markets and agreed
on a plan to make more loans inlocal currencies.
Rising food and fuel pricesare pressuring importers suchas China and India to holddown prices for their 2.6 billionpeople. Exporting countriessuch as Brazil, Russia and South
Africa are benefiting from thetrade, yet are concerned thatover-reliance on resources willstifle diversification of theireconomies, leaving them vul-nerable should demand drop.
The fiscal outlook for emerg-ing economies is more favoura-ble, but this reflects in part thetailwinds of high asset and com-
modity prices, low interest
rates, and strong capital in-flows, the International Mone-tary Fund (IMF) said in a reportthis month. A reversal couldleave fiscal positions exposed.
China is the world’s biggestimporter of soyabeans and con-sumer of energy, depending onimported oil to fuel economicgrowth. India, where millions of people live in poverty, has alsoexpressed concern over risingfood prices.
Regulation of the derivativesmarket for commodities shouldbe accordingly strengthened toprevent activities capable of destabilizing markets, the docu-
ment said.
This year China is forecast toimport 57 million tonnes of soy-abeans, or almost 60% of globaltrade in the animal-feed andtofu ingredient.
The BRICS communiquecalled for greater cooperationon food security to redress thelack of timely and reliable infor-mation on supply and demand.The international community needs to work together to in-crease production, boost fund-ing and technological supportto developing countries as partof establishing a more equitableand fair world, it said.
In a separate agreement, the
heads of the development
banks of the five countriesagreed to work on a plan to in-crease the use of local curren-cies when making loans to eachother.
“We talked about how tomove faster to using nationalcurrencies,” Russian PresidentDmitry Medvedev said. “I justhad a meeting with Brazil’sPresident (Dilma Rousseff) and
we agreed to intensify w ork on apossible switch. We could think through such a system with allBRICS countries.”
The combined gross domes-tic product (GDP) of the fiveBRICS nations will eclipse the
US economy by the end of 2014,
according to IMF projections.The eurozone will be overtakenthis year, the data showed. By 2016, the BRICS countries willhave a combined GDP of $21trillion compared with a projec-tion of $18.8 trillion for the US,according to the IMF.
Medvedev and Rousseff are joined at the Sanya summit by South African President JacobZuma, Indian Prime MinisterManmohan Singh and ChinesePresident Hu Jintao.
Hu and the other BRICS lead-ers also called for more atten-tion to the risks of massivecross- border capital flows, and
said the IMF should continue to
look to overhaul the role of Spe-cial Drawing Rights as an inter-national reserve currency sys-tem.
The governing structure of the international financial insti-tutions should reflect thechanges in the world economy,increasing the voice and repre-sentation of emerging econo-mies and developing countries,the communique said.
Reuters contributed to thisstory.
Voicing concerns: (From left) Indian Prime Minister Manmohan Singh, Russian President Dmitry Medvedev,Chinese President Hu Jintao, Brazilian President Dilma Rousseff and South African President Jacob Zumaat the BRICS summit in Sanya on Thursday.
CHA NGE OF GUA RD
Kapoor named CEO
of Reckitt BenckiserB Y S AP NA A GARWAL
[email protected]·························MUMBAI
Rakesh Kapoor has beenn am ed t o t ak e o ve r a s
chief executive officer (CEO) atconsumer packaged goodscompany Reckitt BenckiserGroup Plc, the company saidon Thursday.
He will become the latest ex-ecutive of Indian origin tomake i t to the top post of aglobal company in recenttimes, joining Indra Nooyi,chairman and chief executiveofficer PepsiCo Inc.; and
Vikram Pandit , CEO of Citi-Group Inc.
Kapoor, 52, will take over as
chief executive from Septem-ber, replacing Bart Becht who
will retir e afte r 16 years at thehelm. Becht will stay on as apart-time adviser to Kapoorand on the company board un-til September 2012.
An MBA from XLRI, Jam-shedpur, and an engineeringgraduate from the Business In-stitute of Technical Studies(BITS), Pilani, Kapoor honedhis management skills in hishome country.
Kapoor joined the company in 1987 as regional sales man-ager, northern India, and held
variou s positi ons in the coun-try before moving to a globalposting in 1996. He was ap-pointed to the executive com-mittee in 2006 to lead global
powerbrand strategies and in-novations, both of which havedriven Reckitt Benckiser’sgrowth faster than the industry average.
Kapoor currently holds the
post of executive vice-presi-dent, global category develop-ment.
“I am delighted to take onthis role and very much look forward to leading the busi-ness to its next stage of growthand performance,” Kapoorsaid in the press statement.
He was one of the architectsof the Boots Healthcare Inter-national Ltd acquisition in2006, which transformed Reck-itt Benckiser into a global con-sumer healthcare company.He has been equally involvedin the recent SSL InternationalPlc and Guajarat-based ParasPharmaceuticals Ltd acquisi-tions.
Shares of the FTSE 100 com-pany, known for i ts globalbrands such as Finish, Lysol,Dettol and Vanish, fell sharply,reacting to the news develop-ment.
Sanya,China: Chinaon Thursday
recordedits recognitionof India’s
“status” inglobalaffairsand saidit
“supports”india’s “aspiration” toplaya greater rolein theworld
body, anexpression thatcouldbe
seenas a stepforwardtowards
backing NewDelhi’s bidfor a
permanentseat onthe United
Nations SecurityCouncil.
China’spositionwas reflected
ina declarationissuedhere aftera
summitofBrazil,Russia,India,
Chinaand SouthAfrica,the
so-calledBRICSnations,while
referringto theneed for
comprehensivereformsat theUN,
includingthe SecurityCouncil,to
makeit “moreeffective,efficient
andrepresentativeso thatit can
dealwith today’sglobalchallenges
more successfully.”PTI
China backs India’sUN ‘aspiration’
Long stint: Rakesh Kapoor.
Sanya,China: Ina significantstep
towards enhanced economic
cooperation,the BRICSnations
signed onThursdayan agreementthatwillenablethem toprovide
credit toeach otherin local
currenciesand collaboratein
capitalmarketsand otherfinancial
services.
Theagreement wassignedby
thedesignated banksof thefive
countriesat a summithere.
Thepactwassignedintune
withthe BRICScountries’
commitment toincreased
cooperationin economic,finance
andtrademattersto support their
sustained national economic
growth andcontribute tothe
“long-termsteady, soundand
balancedgrowthof theworld
economy”.PTI
BRICS to use localcurrencies for credit
>OurView:A mansionof mudBRICS >P22
ALSO SEE
R EUTERS/ PIB
