India's "Philantrocapitalism"

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Dollar Billionaires in Poor Countries: India's "Philantrocapitalism"
September 10, 2012

In this time of global financial crisis, when so many are suffering financial hardship, most countries have witnessed increases in their number of dollar millionaires. These 'High Net-Worth Individuals' (HNWI), according to a report by Capgemini and Merrill Lynch Wealth Management, have in recent years more than doubled in India. In 2008-09, India had 84,000 HNWIs. By 2010, it had risen by 50 per cent (126,700), the biggest increase of all countries. :ranger:

In the worldwide list of dollar billionaires for 2010, India ranked third with 69, behind China (128) and the US (403). Forbes states, however, that the wealthiest 100 Indians are collectively worth $276 billion, while their top 100 Chinese counterparts are worth $170 billion. The three richest Indians together had more wealth the top 24 Chinese billionaires combined.

You don't have to look very far for evidence of their wealth, with more than 30 luxury skyscrapers springing up in Mumbai. For the rich occupants, the taller, the better, to escape from the reality of India below — the railway tracks, low-rise tenements, choking traffic and the 55 per cent of the city's population who live in slums. People are paying nearly two million dollars for a designer apartment, built in complexes with private cinemas, swimming pools, floodlit tennis courts and high-level security. Developers believe each year Mumbai can absorb between 30,000 and 40,000 more homes in the one million dollar-plus category. (Another housing bubble in the making?)

Such extreme wealth doesn't go unnoticed. In the UK, people are questioning the decision to keep giving India some $460 million of aid annually, which makes India the largest single recipient of British aid. Many ordinary Brits are asking if it can be right that the downtrodden British taxpayer gives such sums to a nation that boasts such wealth (albeit highly concentrated).

Siphoning off the country's wealth

Some of the most damning comments about India come from French author Dominique Lapierre, whose book royalties from 'City of Joy' fund projects for the underprivileged in India. He is frustrated by the greed and corruption that he encounters.

Lapierre's non profit organisation, City of Joy Aid, runs a network of clinics, schools, rehabilitation centres and hospital boats. It operates 14 projects in India, most in the Sunderbans area. However, 90 per cent of free medicines get stolen in the journey from Delhi to Kolkata, and the project is thus forced to buy them at high prices from the market.

A few years ago, Lapierre set up in Delhi a trust which offers a tax-deductible certificate for all donations. With more than a hint of disappointment, he notes the foundation still does not have any funds from affluent Indians who seem reluctant to help their fellow country-folk.

Quite the opposite, it seems. Much of India's wealth has been creamed off into Swiss banks, robbing ordinary folk of a quality of life they can now only but dream of. According to some estimates, it could be over Rs 7,280,000 crore (around $1.6 trillion). Data from the Swiss Banking Association in 2006 indicated that India had more black money than the rest of the world combined, or 13 times India's total national debt. Global Finance Integrity notes this siphoning of wealth has served to widen the gap between rich and poor and asserts the main guilty parties have been private organisations and High Net Worth Individuals.

By contrast, Global management and consulting firm Bain notes philanthropic donations amount to just 0.6 per cent of India's GDP. This is not too good when compared to giving in the US and UK, for example, but is better than rates in other developing countries like Brazil and China. In the US, individuals and corporations are responsible for 75 per cent of charitable gifts, whereas in India individual and corporate donations make up only 10 per cent of charitable giving. Some 65 per cent comes from India's central and state government, and the remaining gifts are provided by foreign organisations.

In India, giving does not rise with income and education. As a percentage of household income, donations by the wealthy actually decrease. From an analysis of 30 HNWIs in India, Bain noted that they contribute, on average, just around one-fourth of one per cent of their net worth to social and charitable causes.

All of this is not meant to imply that philanthropy is absent in India. Far from it. Vineet Nayyar's Rs 30 crore gift (just under $7 million) to the Essel Social Welfare Foundation is a high-profile example of philanthropic giving. Over the years, Rohini Nilekani has donated $40 million to numerous causes that try to tackle the root causes of social problems and not merely the symptoms. Her biggest contribution has been to Arghyam, a Bangalore foundation that promotes clean water and hygiene, which now has projects in 800 villages. Philanthropy can and does positively impact people's daily lives.

Philanthrocapitalism: a plaster on a gaping wound

What is really required, though, is a proper redistributive system of taxation, effective welfare provision and genuine economic democracy through forms of common ownership to help address inequality and poverty. In the absence of such things, wealthy philanthrocapitalists will have a major say in deciding which problems are addressed and how, and some will be highly selective.

For instance, critics of Bill Gates say his foundation often ends up favouring his commercial investments. Instead of paying taxes to the state coffers, he donates his profits where it is favourable to him economically, such as supporting GM crops in Africa or high tech patented medicines. 'Giving' often acts as a smokescreen for channeling funds into pet projects and 'business as usual', with rich corporations receiving money to shape the world in their own image and ultimately for their own benefit. Apparent benevolence can have sinister motives, just like certain governments which provide money in the form of 'development aid' that is intentionally used to fund actions that serve geo-political self interest and ultimately undermine the recipient state.

Philanthropy isn't necessarily opposed to capitalism; it's very much part of it. Capitalism is designed to ensure that the flow of wealth goes upwards and remains there via, among other things, the privatisation of public assets, deregulation of the financial sector, the use of subsidies and tax policies that favour the rich, the legal obligation to maximise shareholder profits and the consistent downward pressures on labour costs.

Professor Ha Joon Chang of Cambridge University says that economics isn't a social science anymore, but adopts the role the Catholic Church played in medieval Europe. Essentially, economic neo liberalism is secular theology used to justify the prevailing system, with the hope that some drops of wealth will trickle down an extremely thin funnel to placate the mass of the population. Widening the funnel slightly by making benevolent donations will not address the underlying issues of a failed system. :ranger:

For example, consider that one in four people in India is hungry and every second child is underweight and stunted. Environmentalist Vandana Shiva argues that hunger is a structural part of the design of the industrialised, globalised food system and of the design of capital-intensive, chemical-intensive monocultures of industrial agriculture. The long-term solution for hunger lies in moving away from and challenging the centralised, globalised food supply controlled by a handful of profiteering corporations.

This type of built-in structural inequality, whether it concerns hunger, poverty, housing, income or health, is part and parcel of a development process that is skewed by elite interests in India and at the World Bank and by the corporations that pull the strings at the World Trade Organisation, who have all succeeded in getting their 'globalisation' agenda accepted. No amount of philanthropy, regardless of how well meaning it may be, will remedy the overall destructive effects of the type of capitalism (and massive corruption) being embraced by India's economic and political leaders.

Originally from the northwest of England, Colin Todhunter has spent many years in India. He has written extensively for the Bangalore-based Deccan Herald, New Indian Express and Morning Star (Britain). His articles have also appeared in many other newspapers, journals and books. His East by Northwest site is at: East by Northwest :tup:

Dollar Billionaires in Poor Countries: India?s ?Philantrocapitalism? | Global Research

 

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India gives $5-billion aid to Africa

India loosened its pursestring to woo Africa on Tuesday with Prime Minister Manmohan Singh announcing a multi-billion dollar in aid while inaugurating the second India-Africa Forum Summit in the capital of Ethiopia. :ranger:

Amid thunderous applause from the leaders and representatives of 15 African countries at the African Union headquarters in Addis Ababa, Singh announced a line of credit worth $5 billion "to help achieve the development goals of Africa". "There is a new economic growth story emerging from Africa. Africa possesses all the prerequisites to become a major growth pole of the world… India will work with Africa to realise its vast potential… It is in this spirit that I wish to outline some initiatives for the consideration of our African partners," Singh said on the eve of Africa Day.

The $5.4 billion aid offered at the first Summit in Delhi in 2008 focused on regional integration through infrastructure development. Singh said, "I believe we have reason to be satisfied with what we have achieved since 2008. But our people expect much more and we have to work hard to deliver on these expectations.

He also offered an additional $700 million to establish new institutions and training programmes in consultation with the African Union and its institutions. There was also support for the development of a new Ethiopia-Djibouti Railway line to the tune of $300 million.

Unlike China capacity building has been India's focus in Africa over decades. It may be recalled that half of the Cabinet in an erstwhile Ethiopian government had studied or were trained in India. The area of capacity building has been New Delhi's strength and Singh once again did not disappoint his African counterparts.

He announced creation of several new institutions at the Pan African level across various sectors - food, textile, weather forecasting, life and earth sciences and agriculture and rural development.

African students are a common sight in Indian cities be it Bangalore, Pune, Mumbai, Delhi or Kolkata. To encourage them further government announced that an India-Africa virtual university will be set up to meet the demands among Africans for higher studies in Indian institutions.

Towards this end 10,000 new scholarships will be offered under the proposed university.

The PM also announced an increase by 900 training slots for the Africans under the Indian Technical and Economic Cooperation (ITEC). Therefore a total of 2500 training positions under ITEC will be offered for the next three years to the Africans and total scholarships offered during the same period will amount to 22,000.

At the bilateral level, it was also proposed to establish institutes for English language training, information technology, entrepreneurship development and vocational training across African countries. And as part of new initiatives in the social and economic sectors India will also establish rural technology parks, food testing laboratories, food processing business incubation centres and centres on geo- informatics applications and rural development. :ranger:

In order to bring together business leaders from both sides and deepen trade ties, an India- Africa business council will be set up. :thumb:

A strong votary of peace building in Africa for decades that would lead to prosperity, India made yet another key announcement.

Singh said, "I am happy to announce that India will contribute $2 million for the African Union Mission in Somalia." Stability in the Horn of Africa, as Somalia is known, is also key in addressing the menace of piracy, of which India has been a victim.
Air connectivity has been a bottleneck between Indian cities and African nations.

This has not helped in increasing peopleto- people contacts. Acknowledging this, PM said, "One of the biggest gaps in our interaction is that of insufficient air connectivity… To begin with, India would be happy to increase the access of African airlines to Indian cities in a significant manner over the next three years."

India on its part sought Africa's support for its bid for a permanent seat in the UN Security Council.

"The current international economic and political situation is far from favourable, particularly for developing countries... The world faces new challenges in assuring food and energy security. Global institutions of governance are outmoded and under stress," Singh said.

African nations had overwhelmingly voted for India in the election for non permanent seat at the UN. The continent also hopes to get two slots in the expanded Security Council. :thumb:

India gives $5-billion aid to Africa : Rest of the World, News - India Today

 

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India increases aid to Sri Lanka
Mar 2, 2013

CHENNAI: Even as the anti-Sri Lanka mood in Tamil Nadu is getting more belligerent, the Centre has increased its annual grant to the island nation in the Union Budget. The allocation has gone up to Rs 500 crore for 2013-2014 from Rs 290 crore last year. It was Rs 181.94 crore in 2011-2012. The Budget has allocated Rs 5,550 crore as aid for foreign governments and organizations. :ranger:

The grants for Sri Lanka are meant for rehabilitation of internally displaced Tamils, but parties in Tamil Nadu have accused the government there of diverting the Indian aid for other purposes. The issue could be raised again with the two main Dravidian parties, the ruling AIADMK and the opposition DMK, using it to corner the UPA government. The move comes at a time when political parties in the state have stepped up their offensive against the Lankan government for alleged war crimes.

Recently, UK's Channel 4 had released pictures allegedly showing Balachandran, son of LTTE leader Velupillai Prabhakaran, minutes before and after he was killed towards the end of the decades-long civil war in 2009. Former Indian ambassador to Italy K P Fabian pointed out that increasing the grant to Sri Lanka was important. "It is not only in the interest of Sri Lanka. It is also in our interest. The Indo-Sri Lanka relationship is important." Sri Lanka should also understand that there is a growing international concern about the manner in which it has dealt with the Tamil question, he said.

Under the non-plan category, the Indian government has proposed to donate Rs 4,143 crore to various foreign governments and organizations, besides Rs 1,406 crore under the plan category to Afghanistan, Bhutan and Myanmar. But unlike 2012-13, when the government allocated Rs 550 crore to Bhutan and Maldives, in the budget for 2013-14, there is no loan component to any country and all the money is treated as grant alone.

Prof V Suryanarayana, a senior research fellow at the Centre for Asian Studies, said India has committed to help the Tamil minority in Sri Lanka in recent years. "Housing scheme and other development projects have been announced by the Indian government with the good intention of helping Tamils," Suryanarayana told TOI. But most of the projects have been getting delayed due to 'non-cooperative attitude' of the Sri Lankan government, he said. "For instance, housing for internally displaced Tamils have been delayed due to non-allotment of land by the local government," Suryanarayana said.

He also pointed to the speedy progress of Chinese projects in Sri Lanka. "The projects of the Chinese government are being completed quickly with the co-operation of the Sri Lankan government," he said.

In another strategic move, the Centre has increased grants for all the neighboring countries, including Afghanistan, Bangladesh and Nepal. The Indian government has not allocated any aid for Pakistan for the last three years. "It is important for India to promote development in its neighbourhood in SAARC region as well as African nations. Allocating funds to neighbours is not to compete with China. In our own foreign policy, we have expanded system of technical and financial assistance in recent years," said Fabian.

India increases aid to Sri Lanka - Times Of India

 

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as per the above news, this year Indian government had around IRN 5,500 crore (around $950million, closed to $1.0billion) Foreign Aid for different countries, as part of 2013-14 Annual Budget of India :ranger:

 

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Can India 'Fix' Afghanistan? - NY Times
June 7, 2012

As the United States winds down its military engagement in Afghanistan, optimism is growing about the role India can play to stabilize and develop the country. :ranger:

This week, visiting United States Secretary of Defense Leon Panetta encouraged Indian leaders to take a more active role in Afghanistan, involvement once considered by the United States as merely an opportunistic way for India to antagonize Pakistan.

The United States' encouragement is hardly needed. India plans to "intensify" its already "high level political engagement and broad-based development assistance in a wide range of sectors," India's minister for external affairs, S.M. Krishna, told Afghanistan's visiting foreign minister, Zalmai Rassoul, in a speech in New Delhi last month. With assistance from Europe and the United States expected to drop substantially, India may be left as one of Afghanistan's most prominent aid partners.

Here on India Ink, we have been asking: Does this make any sense? On first glance, at least, India seems an unlikely provider of development assistance because of the serious issues troubling it at home. Many of the same things that Afghanistan needs, from infrastructure to education, India is having troubles providing for many citizens, even without the regular threat of attacks from the Taliban.

India's state-run power industry struggles to get enough fuel thanks to mismanagement and bureaucracy, even its brightest youth can't land a spot at a good university and about third of its citizens live in destitute poverty, with hundreds of millions malnourished. The current central government is grappling with a growing deficit, shrinking economic growth and an increasingly dissatisfied voter base. :ranger:

It's no surprise that India's Afghanistan plans have been greeted with some skepticism.

"In the land of the blind, the one-eyed man is king," said Rajeev Malik, an economist at CLSA, a research and brokerage house, who has been a sharp critic of India's fiscal policy and government. "India has not managed to fix these issues itself," he said, but added that the country "probably has more experience than Afghanistan."

India's on-the-ground aid record, though limited, has been decent.

India has committed some $2 billion in aid to Afghanistan, of which $1 billion has been spent, according to the Ministry of External Affairs. Indian public and private companies have built a highway to Iran, put up transmission lines to bring power to Kabul, are constructing a new Parliament building and working on a hydro-electric project in western Afghanistan.

India sent one million tons of high-protein biscuits to Afghanistan, and plans to follow that with an additional 250,000 tons this year. There are 1,000 Afghan students on scholarships in Indian universities right now. :thumb:

More ambitious plans are in place. In October of last year, when Afghanistan's president, Hamid Karzai, visited India, the two countries signed a strategic agreement that said India would train and equip Afghan security forces. This month, India is holding meetings for regional investors interested in Afghanistan in New Delhi.

Invitees include Turkey, China and Pakistan. Over a dinner in May in New Delhi, Mr. Rassoul told Indian government advisers Afghanistan would like India to concentrate on building up governance, law courts and health care.

"We don't want a fundamentalist Afghanistan, just like everyone else," explained Syed Akbaruddin, spokesman for India's Ministry of External Affairs, in a recent interview. "We don't want an Afghanistan that slides backward."

The two countries share ties cemented long ago, he said, citing the well-known Rabindranath Tagore story "Kabuliwala," about an Afghan fruit seller who befriends an Indian girl. India has a limited physical presence on the ground in Afghanistan, he said, which should quell concerns that India is focused on containing or antagonizing Pakistan. "What do we have in Afghanistan that is a threat to Pakistan?," he asked rhetorically.

India's aid to Afghanistan comes without any conditions, unlike aid to India from foreign countries in the past, he said. India is not pressuring the Afghanistan government to improve, say, education for girls, or rights for women, but is focusing on infrastructure and other concrete projects, he said.

India's projects in Afghanistan are "replicas of what India has been able to successfully implement in some part of India or the other," said Mr. Akbaruddin. "They have been incubated in some part of India."

Staunch supporters of India's involvement say sheer practicality of the alliance makes it work.

"Today the average Afghan knows that for many of the things that would lead to an improved quality of life, India offers the most viable option," said C. Uday Bhaskar, a security analyst based in New Delhi.

To explain, he offered an example: The quality of higher education in Britain or the United States or Australia might be better than in India, he said, but most Afghans can't afford Western universities, and if even they could, they probably wouldn't get a visa to go anyway.

Much of what is on Afghanistan's "wish list" can be "enabled in a considerable degree by India," Mr. Bhaskar said. President Karzai himself attended an Indian university, doing his postgraduate studies at Himachal Pradesh University, in Shimla.

Others note that the "aid" relationship is not new. "People forget this has been going on quietly for a long time," said K. Shankar Bajpai, a former ambassador to China, Pakistan and the United States, who is now an analyst with Delhi Policy Group. For six decades, India was "very much engaged" in Afghanistan, working on everything from building tunnels through the mountains of the Hindu Kush to education and health programs.

Recently, the two countries have built up a "friendly relationship without some of the imperial hang-ups that spoiled Delhi and Kabul's relationship in the past," he said. In a sign of this friendliness, in March, Prime Minister Manmohan Singh called Mr. Karzai to congratulate him on the birth of his daughter.

Another factor to consider is that while India's development problems weigh heavily on the country's poor and middle class, facilities for the wealthy in India are often world class. Many of Afghanistan's wealthy are already beneficiaries, and these upper-class industries and ties are only expected to grow.

Take health care: India's private hospitals, and especially those in New Delhi, serve as de facto doctors' offices for wealthy Afghans, who are just a two-hour flight away. Hospitals like Max Healthcare's giant facility in Saket have special facilitators for Afghan patients who come for everything from in vitro fertilization treatments to heart trouble, doctors say. Often, their Afghan patients pay in crisp United States dollar bills.

On the other end of the economic spectrum, at least one Indian charity has also been successful in Afghanistan.

The Self Employed Women's Association(SEWA), which starts women's self-help groups, has been running vocational training programs in Afghanistan since 2008, teaching women to make jam and sew clothing, among other skills. The group said it has trained 3,000 Afghan women so far, despite two fatal terrorist attacks on the team in Kabul. The women, who are often orphans or widows, use the training to earn an income outside their home.

Whether the ambitious plans in industries like mining and manufacturing will work out remains to be seen. In November, a consortium of public and private Indian companies, led by the state-owned Steel Authority of India, won a bid to mine in three states in Afghanistan, which includes the construction of a six million-ton steel plant, an 800-megawatt power plant and 200 kilometers each of road, rail and transmission lines – as well as a pledge to set aside one percent of profits for establishing educational and medical facilities.

"We are very bullish about this," the chairman of SAIL said when the deal was announced. Total investment by the Indian companies is pegged at $10.8 billion. :thumb:

The big numbers, heavy-duty infrastructure plans and optimistic outlook are a stark contrast to SAIL's India performance. In February, SAIL said quarterly profits fell by more than 40 percent from the same period the year before, thanks in part to higher raw material costs and SAIL's inability to get coal from another state-owned company.

Can India 'Fix' Afghanistan? - NYTimes.com

 

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Just to be clear, have the mods allowed hello_10 to re-invent himself as sunny_10? Is hello_10 still banned?

 

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India's Transition to Global Donor: Limitations and Prospects (ARI)
India's Transition to Global Donor: Limitations and Prospects (ARI) - Elcano

Theme:[/SIZE] India has increasingly sought to expand its activities as a donor, both to reposition itself as an emerging power and to use aid as an instrument for engaging with other developing countries. This ARI looks at the current state of India's donor programme as regards both its size and scope, identifies India's role within the multilateral aid scenario and evaluates the challenges and prospects for further growth.

Abstract: India has expanded its aid programme over the past decade, emerging as a serious donor in certain countries. While the amounts remain small, India's emergence has focused attention on its possible motives.

The term 'emerging donor' has, over the past decade, become an accepted part of the development world's lexicon, providing further evidence of the rise of emerging economies. This does not mean that the donors themselves are new. What is new is an increased recognition globally that emerging donors are now a viable complement, and in some cases a substitute, to aid from traditional donors.

The emergence of these donors is particularly evident now because it occurs at a time when the developed world faces fundamental questions about its own socio-economic model. The financial crisis has undermined confidence amongst OECD countries, put their aid commitments in doubt and given rise to questions about their social welfare and free market models. It is into this vacuum that India has willingly stepped in to offer its own philosophy of development and growth.

Disbursements by emerging donors were estimated at €8.5 billion in 2006.[1] While small (aid by OECD donors in 2006 totalled €103.9 billion),[2] the competition that these donors insert into what was once an oligopoly of high-income OECD nations has caused much consternation in development circles: China's aid programme has prompted both awe and fear;[3] India's stirs a mix of confusion and frustration abroad and pride and criticism at home.

India started its aid programme soon after independence, with the budget speech of 1958 referring to INR100 million in multi-year grants to Nepal and an INR200 million loan to Myanmar.[4] Since then, but particularly over the past decade, India's aid programme has evolved substantially, growing both in scale and ambition.

This paper analyses the evolution of India's giving in recent years. However, rather than simply describing what India gives and to whom, it primarily looks at three related questions: (1) what are the main characteristics that distinguish India's aid?; (2) as India grows into a global donor, how is it likely to view multilateral engagement?; and (3) against the backdrop of almost certain growth in giving in the future, what are the challenges and options ahead?

Analysis

Defining India's Giving

At the outset it is worth establishing what constitutes aid in the context of India's donor programme. Like most emerging donors, India's aid-related activities do not follow the traditional definition of the Development Assistance Committee (DAC). Rather, an alternative definition can be considered: spending that furthers India's standing as a donor. There are three parts to that spending, namely grants and preferential bilateral loans to governments, contributions to international organisations (IOs) and financial institutions (IFIs), and subsidies for preferential bilateral loans provided through the Export Import (EXIM) Bank of India.

In 2010 India's aid-related budget allocations were INR36.66 billion[6] (US$785 million in current dollars), a compound annual growth rate (CAGR) of 6.9% from 2004 to 2010. In addition, the EXIM bank in 2008 approved loans and guarantees worth INR352.47 billion with US$3.75 billion in operative lines of credit (see Table 2 and Graph 1).

These numbers, while big, cannot compare with the giving of China or any of the established donors (China is estimated to have donated US$616 million in 2007 to Africa alone).[7] Thus, India's ability to use its aid well depend not on how much it gives, but rather on how it directs its aid and what else it offers.

Towards this end the country's multilateral budget has increased rapidly. In 2008 and 2009 India spent INR30,719.4 and INR67,630 million respectively (US$2.1 billion) towards increasing its IMF share quota (IMF investment accounted for 66% of the entire budget in 2009). India has also been an enthusiastic donor to the World Food Programme (WFP).

Secondly, these deficiencies expose India to the entire risk of aid giving, in particular allegations of neo-colonialism (a criticism often directed at OECD donors) or of undermining human rights (a criticism directed at China). Any move to expand direct aid should thus be made with caution.

Conclusions: There is no doubt that recent changes to India's aid programme mirror a more general re-think of India's role in the world. Responding to increasing ambitions the programme has evolved to be more global, economic and bilateral. India has sought to engage more closely with the multilateral system, while creating its own niche within the development universe by remaining distinct from other donors.

China has often used aid to facilitate access to natural resources. India's approach, by contrast, is described by Kragelund[15] as being 'on a smaller scale, a bit tardier and not spurring the same dichotomous reactions'. It can be argued that this has prevented India's giving from realising its full strategic potential. However, that smaller scale and tardiness have also prevented India from tripping up on its own good intentions in what is still an early period of its programme.

The risk is that as India increases its giving it may try to achieve too many things –political pre-eminence in its vicinity, economic links with East Africa and access to strategic resources (natural or military) in Burma or West Africa–. As that happens, India will expose itself to the same criticisms levelled against China and against traditional donors –a risk amplified by India's institutional limitations that hinder transparency and accountability–. In short, India's ambitions will continue to outstrip available resources and capabilities.

Those limited resources should therefore be used as much to gain direct leverage as to promote India's private and non-profit sectors in the developing world. Collaboration with other donors can happen, so long as it promotes those general principles. What is needed is a more conscious, transparent and cohesive approach to develop this strategy, rather than the current opportunistic one, because these sectors have always been India's strengths.

Dweep Chanana
Advisor to private and institutional philanthropists with a Swiss private bank

India's Transition to Global Donor: Limitations and Prospects (ARI) - Elcano

 

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Poor Little Rich Country
BY PATRICK FRENCH | JUNE 24, 2011

How do you categorize India, a nation that is at once fantastically wealthy and desperately poor?

In May, the Indian government announced that it was giving $5 billion in aid to African countries in the interest of helping them meet their development goals. "We do not have all the answers," Prime Minister Manmohan Singh said, "but we have some experience in nation-building, which we are happy to share."

The British could be forgiven for being annoyed with Singh's largesse. Britain, after all, currently gives more than $450 million a year in aid to India, and has plans to continue doing so for at least the next few years. The British economy is bumping in and out of a recession, while India's gross domestic product is growing at more than 8 percent a year. This has put the British government in the rather bizarre position of having to sell bonds in order to donate money to Asia's second-fastest-growing economy, even as the latter is itself getting into the philanthropy business.

The policy is unpopular with most of the British press, which argues that because India has a space program and some flamboyant billionaires, it does not need aid -- especially when Britain cannot really afford it. (When the Labour government was voted out at last year's general election, the departing Finance Minister Liam Byrne left a one-line note on his desk for his successor: "I'm afraid there is no money." It was a joke -- but it was also true.) Nevertheless, Britain still sees itself as a donor nation, with all the obligations and international prestige that entails. This comes in part from a sense of postcolonial guilt: Prime Minister David Cameron spoke recently of a "sense of duty to help others" and the "strong moral case" for giving aid.

The situation suggests just how dramatically the economic rise of Asia has undone centuries of experience, and the expectation that the West will retain the hegemony it has had for the past 400 years. It is increasingly difficult to classify whether a nation is rich or poor, and terms such as "the Global South" and "the Third World" have to be heavily qualified to take into account the fact that large sections of the population in countries like China, Brazil, and India now have a purchasing power matching that of people in "the West."

In 1951, the American diplomat Bill Bullitt described the condition of India in Life magazine: "An immense country containing 357 million people," he wrote, "with enormous natural resources and superb fighting men, India can neither feed herself nor defend herself against serious attacks. An inhabitant of India lives, on average, 27 years. His annual income is about $50. About 90 out of 100 Indians cannot read or write. They exist in squalor and fear of famine." Today, it would be hard to make such an absolute statement about India. Poverty certainly remains a chronic problem, but it exists alongside pockets of substantial wealth. An Indian's life expectancy at birth now stands at 67 years, and continues to rise. It is necessary perhaps to think in a different way, and to see that a country like India, like Schrödinger's cat, exists in at least two forms simultaneously: rich and poor. :ranger:

The most important change of the last two decades, since the beginning of economic liberalization, has been the transformation of middle-class Indian aspiration. Although the stagnant days of the controlled economy and the "Permit Raj" -- when important decisions depended on a bureaucrat's authorization -- had their own stability, they also stifled opportunity and individual talent. Members of the professional middle class frequently preferred to seek their fortune in more meritocratic societies abroad.

The modern Indian middle class has a new chance to shape its own destiny in a way that was not previously possible. You can move to your own house using a home loan and live outside the joint family; you can buy a car that is not an Ambassador or a Fiat; you can travel abroad and see how people in other countries live; you can watch your politicians accept bribes or dance with prostitutes on television in local media sting operations while surfing your way to Desperate Housewives or Kaun Banega Crorepati, an Indian adaptation of Who Wants to Be a Millionaire? Businesspeople who have succeeded on their own merits overseas, such as PepsiCo CEO Indra Nooyi, are presented as national heroes.

Poor Little Rich Country - By Patrick French | Foreign Policy

 

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India commits $500 million aid for West Africa

NEW DELHI: India Monday committed $500 million for development projects in West Africa as it firmed up a "unique" techno-economic cooperation agreement with eight countries of the region.

External Affairs Minister Yashwant Sinha announced here New Delhi's readiness to help in the development of the region during talks with his counterparts and officials of eight oil and natural resources-rich countries of the region -- Burkina Faso, Chad, Cote d'Ivoire, Equatorial Guinea, Ghana, Guinea Bissau, Mali and Senegal.

West Africa has become strategically important with the discovery of large oil reserves in the Gulf of Guinea in the late 1990s as well as other major discoveries inland. Angola, Gabon, Equatorial Guinea, Cameroon and Nigeria lie along the gulf.

Barring Equatorial Guinea and Chad, which were represented by their foreign secretaries, other countries sent their foreign ministers for the talks.

The nine countries are to sign a memorandum of understanding (MoU) on a Techno-Economic Approach for Africa-India Movement, TEAM-9 in short, after the talks.

"It's eight plus one in a way," Sinha told reporters after the talks referring to the fact that India was the only country outside the West Africa region in the grouping.

"We haven't called it G-9. It's TEAM-9 because it's the team spirit we are emphasizing," he said and described it as a "unique experiment."

The groundwork for the MoU was done by the foreign secretaries of the nine countries at their meeting here Friday.

"We have excellent bilateral relations with each of the countries. What we are trying to do through TEAM-9 is to promote not only bilateral cooperation but regional cooperation," he said.

"We are all determined it will not be confined to an MoU, we will actually translate it into concrete action," he added.

As tension and political instability grip major world suppliers in the Middle East, multinational oil majors have moved into the region in a big way, signing several commercial agreements and trade treaties with the oil-bearing countries of the region.

India is reaching out to the region rather late, largely because of distance, the absence of a large Indian diaspora and problems of language since the region is largely French-speaking.

This is unlike the rest of the African continent where English is widely spoken and where India has made some headway.

Presently India has diplomatic missions in only five of the eight West African countries in the TEAM-9.

Sinha said the meeting identified various areas of cooperation ranging from agriculture and pharmaceuticals to health, human resource development and energy.

Speaking on behalf of the West African countries, Senegal's Senior Foreign Minister Cheikh Tidiane Gadio said: "India is a role model for the developing countries, particularly those in Africa.

"You have shown you can defeat poverty and development (problems). Frankly we are proud of what you are doing."

Ghanaian Foreign Minister Joseph Henry Mensah said the "great success" India had achieved in various fields is a "great inspiration for all of us."

Guinea Bissau's Foreign Minister Joao Jose Silva described India as an emerging world power and said African countries, which in the past maintained their relations with India through European countries, wanted to have direct links

India commits $500 million aid for West Africa

 

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India to give Bangladesh $1bn line of credit
Jan 12, 2010

NEW DELHI: Taking the current bonhomie with the Sheikh Hasina government to a new level, PM Manmohan Singh on Monday announced a $1 billion line of credit for Bangladesh, the highest one-time line of credit assistance to any country by India. :ranger:

Authorities described the aid as an apt reciprocation to the cooperation received from Bangladesh in dealing with terrorism and insurgency since Sheikh Hasina came back to power.

The credit will aid infrastructural development in that country, including building railway bridges, supply of locomotives and assistance in dredging. :ranger:

Sheikh Hasina assured that no anti-India activity would be allowed to be carried out from the country. Sources said security was one of the most important issues on which the two sides agreed to actively cooperate.

During his meeting with Sheikh Hasina, Singh said her visit had opened a new chapter in India-Bangladesh ties leading to "complete unity of heart and mind".

In another goodwill gesture, India said it would stop work on the Tipaimukh dam project which had caused resentment in Bangladesh.

Bangladesh Prime Minister Sheikh Hasina was inundated by official meetings through the day but her family had other social obligations.

The PM's son Sajeeb Wazed Joy and daughter Saima Wazed Hossain Putul, accompanied by their aunt Sheikh Rehana and her children, called on the Gandhi family to revive an old connection that had become rusty with disuse.

Sheikha Hasina came bearing mouth-watering gifts — Bangladesh's famous hilsa fish from the Padma river, which they swear is tastier than the Indian hilsa from the Ganga.

In return, Sheikh Hasina will probably be gifted a little bit of West Bengal when railway minister Mamata Banerjee gifts her a 'Dhonekhali' saree, a speciality of the state and a variety she personally prefers, along with some of Kolkata's 'notun gurer shondesh'.The credit will aid infrastructural development in that country, including building railway bridges, supply of locomotives and assistance in dredging.

Sheikh Hasina assured that no anti-India activity would be allowed to be carried out from the country. Sources said security was one of the most important issues on which the two sides agreed to actively cooperate.

During his meeting with Sheikh Hasina, Singh said her visit had opened a new chapter in India-Bangladesh ties leading to "complete unity of heart and mind".

In another goodwill gesture, India said it would stop work on the Tipaimukh dam project which had caused resentment in Bangladesh.

Bangladesh Prime Minister Sheikh Hasina was inundated by official meetings through the day but her family had other social obligations.

The PM's son Sajeeb Wazed Joy and daughter Saima Wazed Hossain Putul, accompanied by their aunt Sheikh Rehana and her children, called on the Gandhi family to revive an old connection that had become rusty with disuse.

Sheikha Hasina came bearing mouth-watering gifts — Bangladesh's famous hilsa fish from the Padma river, which they swear is tastier than the Indian hilsa from the Ganga.

In return, Sheikh Hasina will probably be gifted a little bit of West Bengal when railway minister Mamata Banerjee gifts her a 'Dhonekhali' saree, a speciality of the state and a variety she personally prefers, along with some of Kolkata's 'notun gurer shondesh'.

India to give Bangladesh $1bn line of credit - Times Of India

 

[maomao]

Why give Bhik / Aid to only Africans? Why not give some Bhik to beggar ass pakis?

 

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India doles out Rs 26bn (around $450million) aid grant to Bhutan
17 March 2012

At the 2012 budget presentation in the Indian parliament, the Indian finance minister, Pranab Mukherjee yesterday said Rs 2,638 crore or about Nu 26bn has been kept aside as aid for Bhutan.

Last year, the Indian government provided Nu 20bn in aid to Bhutan.

Amidst an ongoing rupee crisis, this Nu 26bn which will come to the country as development aid is expected to ease rupee shortage in the country. The government is expecting the budget to be released by the Indian government during the month of April this year.

Finance minister Lyonpo Wangdi Norbu during a press conference earlier said that he is expecting the money to be released after the Indian budget presentation is over.

Business Bhutan also learnt that the finance secretary Lam Dorji and acting foreign minister Lyonpo Khandu Wangchuk at the sidelines of Mangdechhu hydropower project meeting were supposed to meet the Indian finance minister to discuss about the release of the budget and also initiate talks to increase the standby credit line from Rs 3bn to Rs 6bn.

While the Royal Monetary Authority is desperately trying to rein in rupee shortage in the country by means of monetory tools, the government apart from using the fiscal tool is heavily depending on aid from India.

So far, the Indian government has committed a total of Rs 34bn, of which Rs 7bn has already been allocated for small development programs.

Earlier the finance minister explained that since the money committed was not been disbursed on time, the government incurred expenditure of Nu 1.5bn for the small development program which further fuelled rupee depletion.

The Indian government will soon replace the amount. "If this money comes, we will be better off," said Lyonpo Wangdi Norbu.

The prime minister and the finance minister were not available for comments.

An economist Business Bhutan talked to however asked, "For how long Bhutan will depend on aids from India which will only be a short term measure to deal with the current situation of rupee shortage?"

He said Bhutan needs to look beyond India in terms of trade and investment with countries like Thailand, Bangladesh and Nepal.

The government is also expecting inflow of rupee once the grant and loans from India for hydropower projects like Sunkosh, Mangdechhu and four other joint ventures embarks.

Business Bhutan - Nations only Financial Newspaper

 

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India announces Rs 5,000 crore ($850million) aid for Bhutan
September 01, 2013

NEW DELHI: India on Saturday reiterated its commitment to Bhutan's socio-economic development as it announced an assistance package of Rs 4,500 crore for the neighbouring country's 11th Five Year Plan. In addition, India will also contribute Rs 500 crore to a special Economic Stimulus Package (ESP) devised by Thimphu to facilitate loans for private sector from banks and enhance youth employment. :ranger:

The announcement was made following a meeting between PM Manmohan Singh and his newly-elected counterpart Tshering Tobgay. India is hoping that relations with Bhutan - with the announcement of this package - would come full circle after the strife in July following New Delhi's abrupt decision to cut subsidy on LPG and kerosene it supplies to he landlocked neighbour.

While officials were tight-lipped about any discussion between the two prime ministers over China, with which Bhutan recently had another round of boundary talks, a joint press statement said that the two countries "reaffirmed the trust and confidence between the two countries and their mutual security interests".

Tobgay is Bhutan's second democratically-elected PM after the country's transformation into a parliamentary democracy in 2008. India officially blamed the expiry of the 10th Plan on June 30 for its decision to end subsidy.

New Delhi's decision to cut subsidy on cooking gas and kerosene came right in the middle of Bhutan's second parliamentary elections fuelling speculation that India was trying to influence the outcome, riled as it was with Tobgay's predecessor Jigme Thinley for pursuing policies not in her interests. After his party's loss in the elections, Thinley has now resigned even from Parliament.

According to the statement, Tobgay thanked India for the support extended for Bhutan's development and expressed keenness to strengthen people-to-people links.

The importance of continued cooperation in developing hydroelectric projects in Bhutan was also agreed upon. "India reiterated its commitment to install an additional 10,000 mw of generating capacity. The two sides expressed satisfaction at the progress in the three ongoing projects," said the statement.

According to the statement, India expressed its satisfaction at being a privileged partner of Bhutan in its socio-economic development, and reassured the Bhutanese Prime Minister of its commitment to capacity building in Bhutan. :thumb:

"They agreed to continue their close coordination and cooperation with each other on issues relating to their national interest," it said.- Times of India

India announces Rs 5,000 crore aid for Bhutan | Bhutan Observer

 

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Amid slowdown, India ramps up aid for neighbours
Mar 18, 2012

NEW DELHI: A difficult economic situation notwithstanding, India will be stepping up its assistance programme to its neighbouring countries in the coming fiscal. :ranger:

The biggest chunk of India's assistance programme is reserved for Afghanistan, Myanmar and Bhutan that are provided for in the 12th five-year Plan. But under the non-plan head, Bhutan takes the largest chunk with a combined loan-grant amount of Rs 1,500 crore. Bhutan has traditionally been the largest recipient of Indian aid, with massive hydro-electric projects being covered in the Plan expenditure. :ranger:

Afghanistan and Myanmar are big recipients, both strategically vital for India's security and economic interests. India has invested heavily in infrastructure projects in Afghanistan, including roads, parliament buildings and capacity building for the Afghans in various fields. India also runs the biggest children's hospital in Kabul. :thumb:

However, recently, India won the Hajigak iron ore mines that will necessitate building several roads connecting the mines to border points. A new component of India's aid package to Afghanistan is in the security sector. As a result of the strategic partnership agreement with Afghanistan last year, India is committed to training and equipping Afghan national security forces. This will include training programmes, to be mainly held in India.

New Delhi is building a multi-modal transport system in Myanmar that could also serve to improve trade with the country that India now regards as the gateway to south-east Asia.

Other countries that will continue to receive Indian aid this fiscal is Sri Lanka, where India has invested in rehabilitation and rebuilding programmes in the north, railway lines and oil terminals as well as building houses for the internally displaced persons from the Tamil regions. Bangladesh also takes a sizeable chunk of Rs 250 crore after the PM announced a $1-billion credit line for the country in 2010. :ranger:

Bafflingly, the government spends a minuscule amount for "energy security" in the MEA, but it's so small that it's unclear what this would be used for. Equally strangely, Mongolia gets Rs 2 crore this year from India, but the reason for that remains unclear.

Amid slowdown, India ramps up aid for neighbours - Times Of India

 

[sunny_10]

Aid to only Africans? Why not give some Bhik to beggar ass pakis?

....... Pakistan is the only country among the SAARC nations, which doesn't receive Aid from India :ranger:

rest, even if we have a look on the level of assistance India provides to rest of the SAARC nations in the articles of this thread, from Afghanistan to Bangladesh too, its simply as necessary for them as they receive aid from rest of the world :ranger:

 

[sunny_10]

duplicate post

 

[sunny_10]

Amid slowdown, India ramps up aid for neighbours
Mar 18, 2012

NEW DELHI: A difficult economic situation notwithstanding, India will be stepping up its assistance programme to its neighbouring countries in the coming fiscal. :ranger:

The biggest chunk of India's assistance programme is reserved for Afghanistan, Myanmar and Bhutan that are provided for in the 12th five-year Plan. But under the non-plan head, Bhutan takes the largest chunk with a combined loan-grant amount of Rs 1,500 crore. Bhutan has traditionally been the largest recipient of Indian aid, with massive hydro-electric projects being covered in the Plan expenditure. :ranger:

Afghanistan and Myanmar are big recipients, both strategically vital for India's security and economic interests. India has invested heavily in infrastructure projects in Afghanistan, including roads, parliament buildings and capacity building for the Afghans in various fields. India also runs the biggest children's hospital in Kabul. :thumb:

However, recently, India won the Hajigak iron ore mines that will necessitate building several roads connecting the mines to border points. A new component of India's aid package to Afghanistan is in the security sector. As a result of the strategic partnership agreement with Afghanistan last year, India is committed to training and equipping Afghan national security forces. This will include training programmes, to be mainly held in India.

New Delhi is building a multi-modal transport system in Myanmar that could also serve to improve trade with the country that India now regards as the gateway to south-east Asia.

Other countries that will continue to receive Indian aid this fiscal is Sri Lanka, where India has invested in rehabilitation and rebuilding programmes in the north, railway lines and oil terminals as well as building houses for the internally displaced persons from the Tamil regions. Bangladesh also takes a sizeable chunk of Rs 250 crore after the PM announced a $1-billion credit line for the country in 2010. :ranger:

Bafflingly, the government spends a minuscule amount for "energy security" in the MEA, but it's so small that it's unclear what this would be used for. Equally strangely, Mongolia gets Rs 2 crore this year from India, but the reason for that remains unclear.

Amid slowdown, India ramps up aid for neighbours - Times Of India

Why give Bhik / Aid to only Africans? Why not give some Bhik to beggar ass pakis?

................

sir, despite hefty assistance for the Indian neighbors, the only thing i like the most, are the funding for infrastructure projects. whether the road in Afghanistan to connect it to Central Asia for trade purposes, for the above news to have a road link to South-East Asia via Burma

and i do support building dams-industries etc in the neighbors too, for example of Bhutan :thumb:

 

[Kshatriya87]

The net worth of India's billionaire community has soared 12-fold in 15 years-enough to eliminate absolute poverty twice over in the country, where income inequality is also on the rise, according to the IMF.
Seven out of ten people in the world today live in countries where inequality has increased over the past three decades, International Monetary Fund (IMF) Managing Director Christine Lagarde said on Monday.
We are all keenly aware that income inequality has been rising in most countries. In India, the net worth of the billionaire community increased 12-fold in 15 years, enough to eliminate absolute poverty in this country twice over, she said while delivering the Richard Dimbleby Lecture in London, according to the copy of the speech made available by the IMF.
The richest 85 people in the world own the same amount of wealth as the bottom half of the world's population, Lagarde said.


Read the full article here: Indian billionaires' wealth can wipe off nation's poverty twice: IMF

 

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Dollar Billionaires in Poor Countries: India's "Philantrocapitalism"
September 10, 2012

In this time of global financial crisis, when so many are suffering financial hardship, most countries have witnessed increases in their number of dollar millionaires. These 'High Net-Worth Individuals' (HNWI), according to a report by Capgemini and Merrill Lynch Wealth Management, have in recent years more than doubled in India. In 2008-09, India had 84,000 HNWIs. By 2010, it had risen by 50 per cent (126,700), the biggest increase of all countries. :ranger:

In the worldwide list of dollar billionaires for 2010, India ranked third with 69, behind China (128) and the US (403). Forbes states, however, that the wealthiest 100 Indians are collectively worth $276 billion, while their top 100 Chinese counterparts are worth $170 billion. The three richest Indians together had more wealth the top 24 Chinese billionaires combined.

You don't have to look very far for evidence of their wealth, with more than 30 luxury skyscrapers springing up in Mumbai. For the rich occupants, the taller, the better, to escape from the reality of India below — the railway tracks, low-rise tenements, choking traffic and the 55 per cent of the city's population who live in slums. People are paying nearly two million dollars for a designer apartment, built in complexes with private cinemas, swimming pools, floodlit tennis courts and high-level security. Developers believe each year Mumbai can absorb between 30,000 and 40,000 more homes in the one million dollar-plus category. (Another housing bubble in the making?)

Such extreme wealth doesn't go unnoticed. In the UK, people are questioning the decision to keep giving India some $460 million of aid annually, which makes India the largest single recipient of British aid. Many ordinary Brits are asking if it can be right that the downtrodden British taxpayer gives such sums to a nation that boasts such wealth (albeit highly concentrated).

Siphoning off the country's wealth

Some of the most damning comments about India come from French author Dominique Lapierre, whose book royalties from 'City of Joy' fund projects for the underprivileged in India. He is frustrated by the greed and corruption that he encounters.

Lapierre's non profit organisation, City of Joy Aid, runs a network of clinics, schools, rehabilitation centres and hospital boats. It operates 14 projects in India, most in the Sunderbans area. However, 90 per cent of free medicines get stolen in the journey from Delhi to Kolkata, and the project is thus forced to buy them at high prices from the market.

A few years ago, Lapierre set up in Delhi a trust which offers a tax-deductible certificate for all donations. With more than a hint of disappointment, he notes the foundation still does not have any funds from affluent Indians who seem reluctant to help their fellow country-folk.

Quite the opposite, it seems. Much of India's wealth has been creamed off into Swiss banks, robbing ordinary folk of a quality of life they can now only but dream of. According to some estimates, it could be over Rs 7,280,000 crore (around $1.6 trillion). Data from the Swiss Banking Association in 2006 indicated that India had more black money than the rest of the world combined, or 13 times India's total national debt. Global Finance Integrity notes this siphoning of wealth has served to widen the gap between rich and poor and asserts the main guilty parties have been private organisations and High Net Worth Individuals.

By contrast, Global management and consulting firm Bain notes philanthropic donations amount to just 0.6 per cent of India's GDP. This is not too good when compared to giving in the US and UK, for example, but is better than rates in other developing countries like Brazil and China. In the US, individuals and corporations are responsible for 75 per cent of charitable gifts, whereas in India individual and corporate donations make up only 10 per cent of charitable giving. Some 65 per cent comes from India's central and state government, and the remaining gifts are provided by foreign organisations.

In India, giving does not rise with income and education. As a percentage of household income, donations by the wealthy actually decrease. From an analysis of 30 HNWIs in India, Bain noted that they contribute, on average, just around one-fourth of one per cent of their net worth to social and charitable causes.

All of this is not meant to imply that philanthropy is absent in India. Far from it. Vineet Nayyar's Rs 30 crore gift (just under $7 million) to the Essel Social Welfare Foundation is a high-profile example of philanthropic giving. Over the years, Rohini Nilekani has donated $40 million to numerous causes that try to tackle the root causes of social problems and not merely the symptoms. Her biggest contribution has been to Arghyam, a Bangalore foundation that promotes clean water and hygiene, which now has projects in 800 villages. Philanthropy can and does positively impact people's daily lives.

Philanthrocapitalism: a plaster on a gaping wound

What is really required, though, is a proper redistributive system of taxation, effective welfare provision and genuine economic democracy through forms of common ownership to help address inequality and poverty. In the absence of such things, wealthy philanthrocapitalists will have a major say in deciding which problems are addressed and how, and some will be highly selective.

For instance, critics of Bill Gates say his foundation often ends up favouring his commercial investments. Instead of paying taxes to the state coffers, he donates his profits where it is favourable to him economically, such as supporting GM crops in Africa or high tech patented medicines. 'Giving' often acts as a smokescreen for channeling funds into pet projects and 'business as usual', with rich corporations receiving money to shape the world in their own image and ultimately for their own benefit. Apparent benevolence can have sinister motives, just like certain governments which provide money in the form of 'development aid' that is intentionally used to fund actions that serve geo-political self interest and ultimately undermine the recipient state.

Philanthropy isn't necessarily opposed to capitalism; it's very much part of it. Capitalism is designed to ensure that the flow of wealth goes upwards and remains there via, among other things, the privatisation of public assets, deregulation of the financial sector, the use of subsidies and tax policies that favour the rich, the legal obligation to maximise shareholder profits and the consistent downward pressures on labour costs.

Professor Ha Joon Chang of Cambridge University says that economics isn't a social science anymore, but adopts the role the Catholic Church played in medieval Europe. Essentially, economic neo liberalism is secular theology used to justify the prevailing system, with the hope that some drops of wealth will trickle down an extremely thin funnel to placate the mass of the population. Widening the funnel slightly by making benevolent donations will not address the underlying issues of a failed system. :ranger:

For example, consider that one in four people in India is hungry and every second child is underweight and stunted. Environmentalist Vandana Shiva argues that hunger is a structural part of the design of the industrialised, globalised food system and of the design of capital-intensive, chemical-intensive monocultures of industrial agriculture. The long-term solution for hunger lies in moving away from and challenging the centralised, globalised food supply controlled by a handful of profiteering corporations.

This type of built-in structural inequality, whether it concerns hunger, poverty, housing, income or health, is part and parcel of a development process that is skewed by elite interests in India and at the World Bank and by the corporations that pull the strings at the World Trade Organisation, who have all succeeded in getting their 'globalisation' agenda accepted. No amount of philanthropy, regardless of how well meaning it may be, will remedy the overall destructive effects of the type of capitalism (and massive corruption) being embraced by India's economic and political leaders.

Originally from the northwest of England, Colin Todhunter has spent many years in India. He has written extensively for the Bangalore-based Deccan Herald, New Indian Express and Morning Star (Britain). His articles have also appeared in many other newspapers, journals and books. His East by Northwest site is at: East by Northwest :tup:

Dollar Billionaires in Poor Countries: India?s ?Philantrocapitalism? | Global Research

The net worth of India's billionaire community has soared 12-fold in 15 years-enough to eliminate absolute poverty twice over in the country, where income inequality is also on the rise, according to the IMF.

we have a picture of changing India as below, which may have a place here too, i think :thumb:

2nd, Literacy Rate

comparison based on 347 million people in 1947 to 1.25 billion people by 2013. here we find, Youth Literacy Rate would reach 90%+ by 2013, as we had almost 95%+ attendance of kids in schools since 1997

When the British rule ended in India in the year 1947 the literacy rate was just 12%. Over the years, India has changed socially, economically, and globally. After the 2011 census, literacy rate India 2011 was found to be 74.04%. Compared to the adult literacy rate here the youth literacy rate is about 9% higher.

Literacy Rate for India Population Census 2011

3rd, Per Capita Income of India

British Left around 2% to 5% rich and rest poor in 1947, out of total 347 million population in 1947, while we now have around 350 million Middle Class of India whose Per Capita Income is well over $20,000+ on PPP now, similar to Very High HDI countries like Argentina, Poland, Saudi Arabia etc


GDP per Capita of India on PPP by 2013

Considering the method which was in application till 2006, by both World Bank and IMF

We have new GDP Per Capita on PPP calculation for India considering the year 2013 also, as below:

now poverty of India is because of its over population. Most of the problems of India is because of its Over Population and India has to reduce its population only. otherwise India has around 350mil Upper Middle Class, more than total population in 1947, whose per capita income on PPP is similar to the Very High HDI countries like Argentina, Poland, Saudi Arabia etc. one day I calculated as below:-

first, we find GDP on PPP of India was $4.8tn in 2012 but its still manipulated by the US/UK since 2007. as, till 2006, we had a different way of measuring GDP on PPP which used to include estimated undocumented part of GDP also. and I remember, this way GDP of high population 'developing' countries was around 50% to 80% higher, and for the middle order countries like Brazil/Turkey it was around 10% to 25% higher. and for the developed nations, the difference was hardly around 1% to 3% by that "Old Method" which was in application till 2006. like as below:

"There are, however, practical difficulties in deriving GDP at PPP, and we now have two different estimates of the PPP conversion factor for 2005, India's GDP at PPP is estimated at $ 5.16 trillion or $ 3.19 trillion depending on whether the old or new conversion factor is used," it said.

It's official: India's a trillion-$ economy - Times Of India

means, GDP of India on PPP was already $5.16tn in 2007, higher than Japan that year, making it the 3rd Largest Economy on PPP by 2007 itself this way.

again we have India's growth rate since 2007 as below:

India GDP Annual Growth Rate


here we find, "Average Growth Rate" of India from first quarter of 2008 till the December quarter 2012, stood at around 7.6%, on 'annual' basis. hence considering GDP on PPP of India at $5.16tn in 2007 by Old Method as above, with the estimated 5.0% growth by 2013, we may calculate its value by 2013, after 6 years since early 2008, as below:

GDP on PPP of India by end 2012 = 5.16*1.076*1.076*1.076*1.076*1.076*1.05= $7.81 trillion on PPP

but we would also get to know that PPP value consider value of goods and services in US$ term, means we would also include the factor of inflation of United States also. and if we consider average 2.0% inflation of US for these 6 year in between early 2008 to 2013, with considering an overall factor of just 1.12 this way, then GDP on PPP of India comes around = 7.81* 1.12= $8.75tn by 2013. and it still hasn't included 'Value Added' effects........

again, we know that share of agriculture would be around 17.0% in India's GDP in 2013. therefore, we find share of agriculture in indian economy, 0.17 * 8.75= $1.5 trillions (around), on which 50% population of india is dependent. means around 600mil people based on agriculture in india have per capita income around = $2,500 on PPP by 2013 this way, which is itself similar to the better side of Lower Order Countries like Bangladesh.....

this way, 8.75 - 1.50 = $7.25tn is left for rest of 600mil people based in industry and service in India, with per capita income of around $12,100 on PPP which is higher than Middle Order Countries like Brazil, South Africa etc..........

https://www.cia.gov/library/publications/the-world-factbook//rankorder/2004rank.html


again, we have news that 25% of the population of cities are either in slum or in bit better condition only. so we would consider per capita income of 300mil living in cities in low condition at hardly $3,000 which takes a share of $900 billion from its GDP. hence we are then left with around 7.25 - 0.9 = $6.35 trillions for the rest of 300 mil people living in cities, the so called Middle Class of India with per capita income around $21,166 on PPP this way.

but it is estimated that out of total 600mil people based in agriculture sector, it also has around 50mil Lower Middle Class with Per Capita Income around $15,000 on PPP. (as we know that agriculture has higher share of 'undocumented' part, with that, Agriculture also has higher share of non-taxable business of India.) Hence, we find total middle class of India around 350mil with per capita income around $20,000+ on PPP which is similar to Very High HDI countries like Argentina, Poland etc, which is more than total population of India at the time of freedom in 1947 :coffee:

Most Expansive Places to Live
15-10-2012

5th Moscow $17,566 per sq.m.

7th Singapore $16,350 per sq.m.

10th Mumbai $11,306 per sq.m.

12th Sydney $8,774 per sq.m.

20th Shanghai $6,932 per sq.m.

29th Istanbul $4,569 per sq.m.

47th Dubai $3,393 per sq.m.

54th Bangkok $2,996

68th Kuala Lumpur $2,182 per sq.m.

73rd Jakarta $,2099

World's most expensive cities

Mumbai, Delhi office rentals top Shanghai, New York
Jul 25, 2012

MUMBAI: Office rentals in Mumbai and Delhi continue to be among the highest in the world, beating the likes of New York, Washington or Shanghai despite a depreciating rupee. Renting office space in Mumbai and Delhi costs over $65 and nearly $73 per square meter a month, while the same costs $63 in New York $48 in Washington and $41 in Shanghai, property consultancy firm DTZ said in a report.

Mumbai, Delhi office rentals top Shanghai, New York - Economic Times

4th, The Industrialized India

; India has now entered among the Newly Industrialized nations as below:

=> https://en.wikipedia.org/wiki/Newly_industrialized_country#Current_NICs


; India had overall 5.81% growth rate since 1951.....

India GDP Annual Growth Rate averaged 5.81 Percent from 1951 until 2013

India GDP Annual Growth Rate | Actual Data | Forecasts | Calendar

we now have Industrialists as below too, who are building the nation. as we do know that our these honored Super Riches/ Billionaires don't have money in pocket, but they are Industrialists/ billionaires in terms of the industries they have to provide employment, generating taxes for the government which government use to help the common public itself, with introducing new technologies too through their industries, hence building the nation this way....

The report as below, mention around 115 Billionaires in India, as compare to hardly around 60 by Forbes. its because Forbes estimate only Share values, while the report as below includes, "shares in public and private companies, residential and investment properties, art collections, planes, cash and other assets, according to Wealth-X...".
World's Billionaire Club Grows; Ultra Millionaires Lose Money - WORLD PROPERTY CHANNEL Global News Center

and here is the main report, as below.....
Wealth-X World Ultra Wealth Report 2011-2012 | Wealth-X


Further to the above talks, BRIC economies as whole have their UHNWI estimate, with India's at around 8,200, is given in the article as below:


=> BRIC Country Super-Rich Worth $4 Trillion

The future of wealth will be built with BRICs.

According to new data from Wealth-X, the wealth research and consulting firm, Brazil, Russia, India and China now have a combined 25,600 people with $30 million or more in net worth (which includes shares in publicly traded and closely held companies, residential and investment real estate, art, planes, cash and other investible assets).

That is about half the number of ultra-high-net individuals in the U.S., according to Wealth-X.

The BRIC ultrarich have a combined net worth of $4.125 trillion, compared to $6.4 trillion for the U.S.

What is most interesting about the BRIC data is the concentration of wealth at the very top of the wealth pyramid. In Russia, the nation's 80 billionaires account for 7% of the total population of people with a net worth of $30 million or more, but they own 84% of that group's $640 billion in wealth.

In Brazil, the nation's 50 billionaires account for less than 1% of the ultrarich population but a third of the group's $890 billion in wealth. India's 115 billionaires represent 1.4% of the total ultrarich population and 20% of the group's wealth of $945 billion.

China's billionaires account for 1% of the ultrarich and about a third of their wealth of $1.65 trillion.

The U.S., of course, isn't exactly a model of equity when it comes to billionaires and the ultra-rich. Its 450 billionaires account for less than one percent of the ultra-rich population but control 25% of the group's $6.4 trillion wealth.

But the fastest global growth in billionaires and their lesser ultra-rich aspirants will likely be from the BRICS rather than the U.S. or Europe.

"In Russia, as in other emerging markets"¦.billionaires and near-billionaires, followed in aggregate by the mass of ultra-high-net-worth will dominate wealth," according to Wealth-X.

Which country would you want to live in if you had a net worth of $30 million or more?

BRIC Country Super-Rich Worth $4 Trillion - The Wealth Report - WSJ

 

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