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October 1, 2007


Indian Overseas Congress celebrates 60th year of Indian Independence

Indians must forget party affiliations and work for the country, Indian Overseas Congress (London) U.K. president and freedom fighter Balwant Kapoor has urged. In 60 years after Independence, the country had achieved a lot, he said, and predicted that India would be the greatest nation in the world in the next 60 years.

"Just give India another 10 years and will show you," said Kapoor, who went to jail at age of 15 during the freedom struggle in India. Kapoor was speaking at the diamond jubilee celebrations of India's Independence in London recently.

India's Acting High Commissioner in London Asoke Mukerji praised the role played by overseas Indian organisations in strengthening ties between India and their host countries.

Mukerji complimented people of Indian origin for the success story they have crafted in Britain and said that the London mayor's three-month 'India Now Festival' was a unique testament to the successful role played by people of Indian origin in the United Kingdom.

Urging the younger generations of people of Indian origin to contribute to a mutli-ethnic, multi-cultural and multi-religious British society, Mukerji said that like the older generation of Indians in Britain they should take actively participate in mainstream politics.



In commemoration: Dadabhai Naoroji

In commemoration: Dadabhai Naoroji The Nehru Centre on September 10 paid tributes to Dadabhai Naoroji (September 4, 1825 - June 30, 1917), the Grand Old Man of India. Lord Billimoria of Chelsea, Acting High Commissioner, Asoke Mukherji, and Zerbanoo Gifford paid glowing tributes to Naoroji on the occasion. A dramatic rendition of Naoroji's maiden speech in Parliament by actor Martin deFriend, who magnificently brought to life the great visionary, was the key attraction of the programme.

Omar Ralph, author of Dadabhai Naoroji's biography, made a special presentation accompanied by rare historical photographs.

The evening was also an occasion for a re-union of the Parsi community of London. The Nehru Centre has been organising such programmes to pay tributes to Indian national heroes over the last few weeks to mark the 60th anniversary year of India's Independence. A Parsi intellectual, educator, cotton trader, and an early Indian political leader, Dadabhai Naoroji was the first Asian to be elected a British MP (1892 - 1895). His book, Poverty and Un-British Rule in India, brought into limelight the drain of India's wealth into Britain. He was the mentor to many of the men and women who forged the founding of the modern state of India.

Gandhi held him in high esteem and he was affectionately called as the 'Grand Old man of India'. He was the first to call for Swaraj (self government) from an official platform at the Indian National Congress session of 1906.

Somehow overshadowed over time, the aim of the commemoration was to bring back into focus the tremendous influence he had on Indo-British relations, and the road to Independence.



ADAG's market cap $50 billion

The Anil Dhirubhai Ambani group has said that the market capitalisation of its five listed-companies has together crossed the $50 billion mark, with the flagship Reliance Communications accounting for $30.7 billion.

"This is a great opportunity for communicating the value creation for investors by the group," a statement from Reliance Communications said soon after all the companies in its fold hit all-time highs on the stock exchanges.

Besides Reliance Communications, the listed-companies in the group are Reliance Capital, Reliance Energy, Reliance Natural Resources and Adlabs films. These were formed after the split between the Ambani brothers - Mukesh and Anil.

Incidentally, this is the third group in the country after Reliance Industries led by Mukesh Ambani and the professionally managed Tata group, which has around 100 companies in its fold, to achieve the $50 billion market cap.


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RIL becomes the richest group

The Reliance Industries group promoted by Mukesh Ambani has also risen to become the richest group replacing the Tatas.

The climb to No. 1 has also been possible, thanks to most of the Tata group companies not participating as much in the current rally largely on account of concerns stemming from a rising rupee and higher interest rates. This means that companies like TCS, Tata Motors and Tata Steel have under performed in the Sensex rally.

The Mukesh Ambani group companies have gained the most in recent times with the combined market cap of group companies increasing by Rs. 941.87 billion.

This has been on account of the stellar performance put in by Reliance Energy, RNRL and Reliance Capital, all of which are trading at all-time highs. Other groups, which have seen a strong increase in their net worth, include Bharti Airtel, Aditya Birla group, Unitech and the UB group.



Oracle launches '11g' software

Global database software major Oracle on September 18 launched its latest software '11g' in India which would be implemented by partners including HCL Technologies, Infosys, Satyam, TCS and Wipro at the customer's end.

Database '11g' is a software product providing security of data to customers besides helping in data warehousing and content management applications.

"Financial services, communications and government organisations which have to surmount a large number of security and compliance issues, will benefit from this database software," Oracle India vice-president, Technology Sales, S.P.S. Grover, said. Oracle said '11g' would enable partners and customers improve productivity, increase revenues and manage costs.



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