Singing India's tune Abhilasha Ojha / New Delhi January 3, 2010, 0:01 IST Three indians have been nominated at the grammys this year. Could this lead to an All-Indian event in the years to come? Music, they say, has no barriers. No wonder, Vienna echoes in the strains of the music of the Manganiyars (a singing community from Rajasthan). No wonder also that Baul singers from the villages of West Bengal find themselves flying business class to perform — to packed auditoria — all over the world. And, really, no surprise that musicians from different parts of the world continue to collaborate to create delightful melodies for millions of listeners across the globe. Simply put, the global music scene is witnessing exciting times. What’s more, Indian musicians are creating a greater impact by collaborating with global artistes of repute. While “collaborations” isn’t a new phenomenon — Pandit Ravi Shankar partnered with The Beatles, Asha Bhonsle collaborated with Boy George, well-known music groups like Taal Tantra and Shakti are products of collaborations too — its certainly a continuing trend. For this year, too, at the Grammys, a collaboration just might get rewarded. It may be too early to predict the turn of events, but for anyone who has heard this year’s Grammy nominations, the collaboration of Indian musician Amjad Ali Khan and Iraqi artiste Rahim Alhaj for the album Ancient Sounds has taken them by pleasant surprise. Having heard the album only recently, we would certainly applaud this partnership. “Celebrations,” one of the tracks on the album, is certainly a winner and one just hopes that the duo finally bag the Grammy on January 31, 2010, when the event will be held at the Staples Center, Los Angeles. Back home at the Khan household, celebrations are on even as the sarod maestro continues to field innumerable phone calls and congratulatory messages. “It [the Grammy nomination] is a blessing from god,” says Khan, adding that all the songs on the album have been composed by him. The combination of oud (the instrument that Alhaj has played on the album) and the sarod, when you hear it first, is a dramatic jugalbandi which blends so harmoniously that you’re quick to rewind and listen to the tracks more carefully. Come to think of it, it’s wonderful to have two ancient instruments coming together to create such brilliant melodies. The album, which was recorded in the US, Khan feels, was a winner but even he hadn’t anticipated the unprecedented response to it. If Khan is busy gearing up for the ceremony in LA, tabla maestro Ustad Zakir Hussain is also celebrating his collaborative effort that has got him a nomination at this year’s Grammy. Hussain has been nominated in the Best Classical Crossover Album category for The Melody of Rhythm, which consists of artistes like Leonard, Slatkin, Bela Fleck, Edgar Meyer and Hussain. Interestingly, Hussain previously won the Grammy (in the Contemporary World Album category) for his collaborative album Global Drum Project along with Mickey Hart, Sikiru Adepoju and Giovanni Hidalgo. In 1992, Planet Drum, an album co-created and produced by Hussain and Mickey Hart, was awarded the first ever Grammy for the best World Music Album. Predictably, the music market in India is already showing a keen interest in marketing albums of this year’s Grammy nominees, with music stores like Planet M and Music World prominently displaying not just Ancient Sounds but also previous works of Ustad Amjad Ali Khan. Interestingly, at a local music store in Saket, we also spotted a couple of Khan’s albums alongside some of A R Rahman, who, by the way, is also a proud nominee at this year’s Grammy Awards. If 2009 was a significant year for Rahman, what with the music maestro grabbing two Oscars, and collaborating with Pussycat Dolls for another version of “Jai Ho”, this year’s Grammy Awards nomination (in two categories) is, as musician Salim Merchant explains, “another feather in his cap”. Rahman is nominated in the category of Best Song Written for Motion Picture/ Television or Other Visual Media, along with lyricist Gulzar and singer Tanvi Shah for “Jai Ho”. Rahman is also nominated for Best Compilation Soundtrack Album for Motion Picture/ Television or Other Visual Media, and will face competition from Quentin Tarantino’s Inglourious Basterds, Darnell Martin’s Cadillac Records, HBO’s True Blood and Twilight. While experts are already predicting Rahman’s win at the function, the music maestro continues to remain humble and down to earth. “Every tune that goes out from my studio is special. “Jai ho” was special too,” he says. While Indians are rejoicing at the inclusion of the Indian artistes at the Grammy Awards in LA, musician Shubha Mudgal, in an article, makes an interesting observation: “Why is there no separate category for Indian music or even for Asian music, despite its strong and unique presence in the world? Why do we have to be dumped into a category called World Music with the rest of the world?... Why not a new South Asian Grammy, if not an all-Indian Grammy?” Going by the growing Indian presence at the Grammys, who knows, maybe the event in January 2010 will be an “all-Indian Grammy”? http://www.business-standard.com/india/news/singing-india/s-tune/381464/ ...and I am Sid Harth

Old highs may be tested Rex Cano / Mumbai January 03, 2010, 0:59 IST The year 2009 ended on a high note, with benchmark (BSE & NSE) indices registering best yearly gains in the last two decades and touching fresh 19-month peaks. The year, however, will be most remembered for the Sensex and the Nifty hitting the upper circuit for the first time. In the week under review, the markets surprisingly moved in an extremely narrow band despite the two holidays and the derivatives expiry. The BSE benchmark index, the Sensex, moved in a narrow range of 200-odd points. The index touched a high of 17,531 and settled with a gain of 104 points at 17,465. Among index stocks, Reliance Infrastructure surged over 4 per cent. NTPC, Grasim, Bharti Airtel, SBI, Hindalco and Jaiprakash Associates were the other major gainers. Sun Pharma dropped 3.6 per cent. DLF, Wipro and ITC were some of the other prominent losers. Lack of momentum on the upside suggests the up move may halt temporarily. The Sensex needs to sustain above 17,550 for further gains, while on the downside, the index may seek support at 17,385-17,335, below which the bears are likely to have the upper hand. The longer-term picture, since we are at the start of the New Year, looks quite promising. Chances are that we may re-test the 21,000-mark this calendar year, while there are multiple strong supports for the index on the downside. The bias will remain bullish as long as the index remains above 13,840 this year. There is a further deeper support around 11,590 in case of extreme bearishness. On the positive front, the Sensex is first likely to target 19,550, followed by 21,090, in 2010. The Nifty moved in a range of 62 points and ended with a gain of 23 points at 5,201. Last week, I had mentioned that the Nifty needed to sustain above 5,210 for fresh bullishness. As we see, the index was unable to close above 5,210 on any single day. Currently, the chart suggests that the Nifty needs to close above 5,237 for fresh bullishness. The Nifty may face resistance around 5,225-5,240 and find support around 5,177-5,163. A dip below 5,163 could see the index fall to 5,100 and then further lower to 5,010. Unlike the Sensex, the yearly Nifty chart reveals that it will be difficult for the index to attain its 2008 peak (6,357) this year. In fact, the index has strong resistance around 6,225. The first significant target for the index is 5,790. On the downside, the index is likely to find considerable support around 4,600 and further lower at 4,175.  http://www.business-standard.com/india/news/old-highs-may-be-tested/3... ...and I am Sid Harth

Japan's yo-yo ties with India The two share a variety of goals and concerns Business Standard / New Delhi January 03, 2010, 0:57 IST Given that almost all historical, cultural, economic and geo-political factors overwhelmingly point to a close partnership between India and Japan it has taken an inordinately long time for these two Asian nations to strike a meaningful strategic partnership. Hopefully the visit to India of Japanese Prime Minister Yukio Hatoyama should spur this up-again-down-again yo-yo relationship forward. The news that came on the evening of the Hatoyama visit that India has become the most important destination for Japanese investment, as it has been for Japanese aid, defines the new tenor of the relationship. This change is significant considering that in the past two decades there has been a secular decline in Japan’s economic engagement with India. While India has been seeking investment and trade opportunities for sometime now, not just aid, Japan has been far too pre-occupied with its own problems and far too narrowly focused on China and south-east Asia to utilise the India opportunity till now. It is a pity, of course, that India’s opening up in the 1990s coincided with Japan’s slowdown and internal problems. Japanese investors have had their tale of woe and their ‘suggestions’ for improving India’s investment climate. From land acquisition to the tax system, from infrastructure to logistics and regulatory policies, from administrative hassles to issues relating to intellectual property rights, Japanese companies have been waiting for India to become a more hospitable place, while rival Korean companies have stolen a march. Japan has clawed its way back, increasing its share of foreign direct investment and institutional investment into India. The iconic Delhi- Mumbai Industrial Corridor (DMIC) project and the high speed freight train line that it is partly funding have helped alter Japan's profile as a partner. These have laid the foundation for a bigger role for Japan in India's development. That in fact ought to be Japan's strategic approach — to be seen as India's key partner in the latter’s rise. At a political and diplomatic level Japan and India are not only comfortable with each other but have a variety of shared goals and concerns. But this political cement has not been enough to forge a closer economic relationship. Unless Japan invests more in India, economically and politically, and above all strategically, the relationship will not graduate from good to great. The trick for both Asian giants is to set aside their differences on the contentious nuclear issue and move on a wider front, forging closer people to people and business to business contacts. Thus far Japan has adopted a regional approach to India — focusing on the coastal states rather than the north Indian heartland. The DMIC project would raise Japan’s profile in the industrial development of north-western India provided the region is able to get over the teething troubles of providing the infrastructure necessary for seeding industrial projects. For its part Japan has to resolve internal differences between its economic and foreign ministries which tend to take divergent views on long term relations with India. There is really no reason why the Land of the Rising Sun and the Land of the Buddha cannot come closer in a win-win partnership. http://www.business-standard.com/india/news/japan/s-yo-yo-tiesindia/3... ...and I am Sid Harth

K Subrahmanyam: India's real partner is the US, not China K Subrahmanyam /  January 3, 2010, 0:59 IST It is more important for India to focus on starting a clean energy initiative with the US, than to find common ground with the biggest GHG emitter, China. India and China seemed to be on the same side at the Copenhagen Climate Summit, while the United States had to gatecrash to join hands. However, India can do more with the US in dealing with the consequences of climate change than the real high emitter, China. As China industrialises rapidly it is also producing GHG at a faster pace than any other country, including the US. China and India argue justifiably that they cannot be expected to cap their GHG emissions and reduce the pace of their industrialisation at the cost of expanding domestic employment opportunities and lifting their populations out of poverty. They demand that developed countries should cut down their conspicuous consumption and moderate their luxurious standard of living to cut down their emissions of GHG. This is what the Kyoto Protocol was all about. There have been attempts by many developed countries to renege on their Kyoto commitments, since they feel they cannot fulfill those commitments without cutting down the standard of living of their populations which, most of them as democratic countries are unwilling to do. There is nothing surprising about it, at least for Indians who are unable to get their democratic government cut back popular but economically non-viable subsidies at home. Most of the non-democratic nations may not appreciate the problem faced by democracies. The industrialised countries tried at Copenhagen to bring down their Kyoto commitments on emission reduction. While they have been thwarted in their attempt by the Copenhagen accord and their commitments have been kept alive for further negotiation at the next Mexico global summit, it is reasonable to envisage, irrespective of the commitments they make on GHG, that the developed countries as well as major developing countries will implement only such cuts which improved technology make possible. Even if an international regime is negotiated and a dispute settlement mechanism is agreed to, the cuts will largely depend on advances in new clean energy generation and conservation technologies, enhancing efficiency in energy use and storage of energy. Speaking at Copenhagen on 18th December, US President Barrack Obama said, “These mitigation actions are ambitious, and we are taking them not simply to meet global responsibilities. We are convinced, as some of you may be convinced, that changing the way we produce and use energy is essential to America’s economic future — that it will create millions of new jobs, power new industries, keep us competitive, and spark new innovation. We’re convinced, for our own self-interest, that the way we use energy, changing it to a more efficient fashion, is essential to our national security, because it helps to reduce our dependence on foreign oil, and helps us deal with some of the dangers posed by climate change.” Irrespective of what happens in Mexico, the US and most other major industrialised countries are going to invest heavily in green energy R&D and bring about an industrial revolution. It would not only help in reducing GHG emissions but in turn is likely to result in change in life_style_ involving energy-efficient products from light bulbs to electric cars and even in food habits. It will be in the interest of large GHG emitters in both developed and developing world and the rest of the world if this inescapable industrial revolution can be expedited and accelerated. Before he was elected US President, Mr Obama wrote to Prime Minister Manmohan Singh on 23 September 2008, “We also should be working hand- in-hand to tap into the creativity and dynamism of our entrepreneurs, engineers and scientists to promote development of alternative sources of clean energy. Imagine our two democracies in action: Indian laboratories and industry collaborating with American laboratories and industry to discover innovative solutions to today’s energy problems. That is the kind of new partnership I would like to build with India as President.” Indo-US cooperation in R&D and subsequently in manufacture of products is bound to result in major cost reductions. It would appear that the two leaders, Manmohan Singh and Barrack Obama, have a common vision on cooperation between the two countries. The joint statement of 24 November 2009 said, “Recognising the need to create the clean energy economy of the 21st century, Prime Minister Singh and President Obama agreed to launch a clean energy and climate change initiative. The goal of the initiative would be to improve the lives of the people of both countries by developing and improving access to technologies that make our energy cleaner, affordable and more efficient. The initiative will include cooperation in wind and solar energy, second generation bio-fuels, unconventional gas, energy efficiency and clean coal technologies including carbon capture and storage. The success of this initiative is expected to enhance the ability of India and US to provide new economic opportunities for their people and create new clean energy jobs.” Today the US is under challenge from China. It is expected that the US will lose its position as the number one economy in terms of GDP to China in the next two decades. The US has a vital stake in sustaining its pre-eminence as a technological and economic power and Obama has strong views on the subject. He said on the campaign trail in 2008, “Having China as our banker isn’t good for our economy, it isn’t good for our global leadership, and it isn’t good for our national security. History teaches us that for a nation to remain a pre-eminent military power, it must remain a pre-eminent economic power.” Launching a new revolution in green energy technology, even as China continues to be the foremost emitter of GHG, is in the US interest. Let us not forget that China’s rise to its present position was made possible by the US and other industrial powers making huge investments in China. This is what made China ‘the factory of the world’ for consumer products. If India and the US can work together in green energy technology development, the proposed joint Indo-US clean energy and climate change initiative can do to India what US investments and joint ventures did to China in the 1980s and 1990s. To deal effectively with climate change and GHG emission, India should concentrate attention on getting the clean energy and climate change initiative with the US started as early as possible. This is more important for India than finding common ground with the biggest GHG emitter, China. Now that Copenhagen is behind us, the Prime Minister should move on the initiative. This is the opportunity of a century for our industry. Such cooperation can trigger an industrial revolution. http://www.business-standard.com/india/news/k-subrahmanyam-indias-rea... ...and I am Sid Harth

Need to liberate science from shackles of bureaucracy: PM Agencies Posted: Sunday , Jan 03, 2010 at 1103 hrs Thiruvananthapuram: PM Manmohan Singh has admitted that red tape has affected the growth of science in India. Terming as unfortunate regression in some sectors of Indian science due to red tape and political interference, Prime Minister Manmohan Singh on Sunday asked scientists to engage with government to liberate it from shackles of bureaucratism and in-house favouritism . Holding that time has come to give a new boost to science and technology, he asked Indian scientists working abroad to return to the country to convert the brain drain to brain gain . Singh announced that the government was considering revision of the value of doctoral and post-doctoral fellowships as well as formulation of schemes that would cover all research scholars with some funding support. It is unfortunately true that red tape, political interference and lack of proper recognition of good work have all contributed to a regression in Indian science in some sectors from the days of C V Raman and others, Singh said inaugurating the 97th Indian Science Congress here. He said he had taken note of 2009 Nobel laureate Venkataraman Ramakrishnan's remarks that there was a need for greater autonomy from red tape and local politics for Indian scientists. Singh said steps to improve science requires not only money but change in mindset, including that of the senior faculty and university administration. I invite you all to explore all these issues and engage with us so that we can do what is needed to liberate Indian science from the shackles and dead weight of bureaucratism and in-house favouritism, he told a gathering of about 5000 scientists and educationists. Only then we can unleash the latent talent and creative energies of our scientists and engineers, Singh said. The Prime Minister appealed to scientific institutions to introspect and to propose mechanisms for greater autonomy, including from the government, which could help to improve standards. We must make special efforts to encourage scientists of Indian origin currently working abroad to return to India, including to coming to universities or scientific institutions for a short period. In this way we can convert the 'brain drain' of the past into a 'brain gain' for the future, he said. Stressing on the centrality of scientific institutions in the innovation eco-system, he said, The system must include industry, and providers of venture funds, as well as regulators who set high standards of performance for products . Noting that the government has declared 2010-2020 as a decade of innovation , he said, We cannot continue with business as usual as we need new solutions in many areas to achieve the goals of inclusive and sustainable growth. He pitched for a strong outward orientation of the innovation eco- system to stimulate innovation to find indigenous solutions for local problems. http://www.indianexpress.com/news/need-to-liberate-science-from-shack... ...and I am Sid Harth

Indian cos listed on US bourses gain USD 70 bn STAFF WRITER 10:57 HRS IST New York, Jan 3 (PTI) Indian companies listed on the American bourses notched up handsome gains in 2009 as their aggregate valuation scaled upward by USD 70 billion with stock markets worldwide rallying substantially in the year. The market capitalisations of all the US-listed companies grew up to three-fold. IT major Wipro witnessed nearly a two-fold increase in its valuation. However, only three entities