By Sunil Dang, Editor-in-Chief
After a gap of 65 years, North Korea has finally broken the ice with President Kim Jong-un paying a truly historic official visit to South Korea. Now, it would be interesting to see how Kim implements its outcome in the coming days ahead of his meeting with the US president Donald Trump. While people are guessing how long this peace in Korean Peninsula exists but in my opinion even if it’s a bluff by Kim Jong-un to ensure safety of his mineral resources from the US and its allies; South Korean President Moon Jae-in deserves Nobel Peace Prize for his services to the global peace. Provided, the Nobel Academy doesn’t follow any more sexual assault claims. Curiously, in this time of immense geo-political pressure on China, New Delhi picked Chinese President Xi Jin-ping’s offer with Prime Minister Narendra Modi paying his fourth — maximum by any Indian PM — official visit to China. Beijing would resist any kind of tension with India as Japan and US have already soaked out its resources, especially gold and other minerals out of the Korean region.
The last fortnight has been a litmus test for Indian Judiciary. It is beyond my understanding why the Central government would reject the Collegium’s recommendations on the appointment of judges into the Apex Court on flimsy basis such as it leading to over representation of a state in the Supreme Court. That seniority was the reason for rejection of collegium recommendation seems at best like an alibi. Considering recent controversy created by the Indian legislators on fake news, and now rejection of collegium recommendations on appointment of judges to the Apex Court, one can ask are Indian legislators trying to supersede other pillars of the Indian democracy.
Karnataka is witnessing one of the fiercest fought assembly polls as all three major parties are out with full strength to woo the voters. While JD(S) is banking on the alliance of BSP, NCP and Owaisi’s AIMIM, Congress is making people aware about the good governance they provided in last five years and BJP is showcasing the good work that took place under Narendra Modi in centre and if they are voted to power, both central and state government will have a synchronized government leading to greater progress in the State. However, I am surprised to see BJP already working on its Plan B, where Bellary lawmaker B Sreeramulu is being showcased as second line leader after BS Yeddyeurappa. The way Sreeramulu was accompanied by majority of the major state BJP leaders while filing the nomination paper from Badami against CM Siddaramaiah and the denial of ticket to Yeddyeurappa’s son, clearly reflects that Sreeramulu is a part of BJP’s long-term plan and Yeddyeurappa doesn’t figure in this plan.
According to DIPP, the total FDI investments in India during April-December 2017 (released in April 2018) stood at $35.94 billion, indicating that government’s effort to improve ease of doing business and relaxation in the FDI norms has started yielding results. Data for April-December 2017 indicates that the telecommunications sector attracted the highest FDI equity inflow of $6.14 billion, followed by computer software and hardware – $5.16 billion and services – $4.62 billion. Most recently, the total FDI equity inflows for the month of December 2017 touched $4.82 billion. During April-December 2017, India received the maximum FDI equity inflows from Mauritius ($13.35 billion), followed by Singapore ($9.21 billion), Netherlands ($2.38 billion), USA ($1.74 billion), and Japan ($1.26 billion). After going through these DIPP data minutely, one can say that statistics can be used to prove anything. . This data reflects that FII have shown interest in IT and telecom sector mainly —mainly as a form of Mergers and Acquisitions. To create jobs, a developing economy like India needs focused approach and investment in manufacturing sector which doesn’t stand anywhere among the FDIs as mentioned by the DIPP data. So, it’s high time for policy makers to fix the investment policy in a way that leads to greater job creation.