THE media were full of statements and speeches from the "visiting NRIs and Government dignitaries". The leaders and representatives of non-resident Indians and persons of Indian origin have come and gone. The world at large is, however, not much wiser.
Incidentally, some visiting NRIs lectured India and its Government. A few among them thanked the Government for the much-awaited dual citizenship, which may be a doubtful blessing.
Many among the NRIs asked the Government to assure better governance, a request, shared by the resident Indians.
The non-resident Indian has played an important role in India's political and economic history. Mahatma Gandhi was himself a famous non-resident Indian, who came back and stayed to fight for India's freedom. A phase of non-residence does sharpen one's awareness of the political and economic realities back home. Other countries have similar heroes. Ho Chi Minh himself learnt his ropes in Paris as a non-resident Vietnamese. The non-resident acquires a new vision of what can be done and dismisses bottlenecks and blocks to progress. He is willing to dream and ask "why not?"
Notwithstanding all the troubles and the grievances of NRIs, the recent jamboree of non-resident Indians should have, at least, taught a lesson or two to the presiding deities at New Delhi. We need a conscious and focussed policy of dialogue with NRI interests — one that encourages constructive cooperation.
In the 1980s and early 1990s, the India Investment Centre played an important role in attracting and facilitating NRI investments as well as other foreign investments in India. Established by the legendary innovator T. T. Krishnamachari, the India Investment Centre offices in Delhi and abroad became beehives of activity. Its initial tutelage under R. S. Bhatt gave it a special flavour.
Not much is now heard of whether the India Investment Centre continues to play a role. Indeed, the institution seems to have faded away completely following the liberalisation of the 1990s.
The IIC Offices at New York, Tokyo, Frankfurt and London, besides the one at Singapore, had at one time a very important role to play to be re-energised.
What is important is to find out the secrets of what made NRIs successful in their adopted countries. Very often, we hear a successful NRI say "Conditions are different over there" referring to his adopted home. He feels that the atmosphere of freedom and transparent governance — as also access to credit — in the new destination were responsible for his success.
We hear stories of rags-to-riches retailers who have made millions, pickle-sellers who have accumulated honours and palaces, and above all, the whiz-kids who have risen high in far-off Britain and the US. Success stories also abound of NRIs who have made it big in the Silicon Valley.
All these stories should make us ponder. We need to find out exactly what were the conditions that made the expatriates flourish and succeed. Maybe, we can learn a lesson or two as to where we went wrong.
"Remove the licence and permit raj, make credit more freely available, make governments more investor-friendly, get the tax regime to encourage investment" — these are some of the elementary messages which one gets from every NRI conference. Many an NRI can cite a specific experience or two of insults borne patiently, hurdles thrown in his path and brakes pressed on him.
It was quite an experience in the late 1980s when we used to hold NRI conferences in New York and London.
I was present at a few of these when Mr V. P. Singh and Mr N. D. Tiwari were Finance Ministers. Mr V. P. Singh was quite concerned and asked for quick responses to their grievances.
But, given then prevalent licence raj, the environment did not permit of much response, as he would have wished. He, however, realised that individual grievances of NRIs typified a systemic problem — that of slow or no-response by Indian officialdom.
I particularly recall a conference in early 1990s, which was addressed by Dr Manmohan Singh at Singapore. One of the purposes was to canvas the idea of the NRI bonds. It was at that conference that Dr Manmohan Singh took the opportunity to announce the scheme for automatic clearance of FDI proposals by RBI — which also gave a boost to NRI direct investment into India.
Dr Manmohan Singh was also involved in a tête-à-tête with NRIs in Bangkok, where he had gone to participate in the annual IBRD/IMF meeting. The NRIs did represent to him many grievances.
But what struck me most was the patient manner in which he took in their suggestions, especially in regard to convertibility. Although Thailand paid a price for going to an extreme with capital convertibility, it was clear that some of the comments of the NRIs registered on Dr Manmohan Singh's fertile mind.
We saw the results later, when he announced his decision on movement towards convertibility. It is essential that we revive the practice of searching out and addressing grievances of NRIs because on that depends the success of our effort to attract NRIs to invest in India. The recent conference in New Delhi was a useful start in the process of rediscovery of our weaknesses and strengths.
There was a Committee on venture capital under the Chairmanship of Mr K. B. Chandrasekhar.
It is not known what precise steps have been taken to activate venture capital in India. Tax law and regulatory restrictions are still impeding the growth of venture capital.
In this context, the Vijay Kelkar proposals for taxing global incomes of residents but not ordinarily residents — a category which could include many non-residents — may also have serious implications. How the NRIs will react to this proposal is not clear. Obviously, it will drive many NRI remittances into the havala market, from which they had emerged in the last few years.
The convening of the Global Investors' Meet in Kerala is another instance of a focussed approach to the NRI phenomenon. Kerala, in particular, needs to do that.
The remittances of NRIs belonging to Kerala are significant. Kerala needs to create a more conducive environment for intending returnees to invest. But the systemic problems in Kerala's political and social context are too deeply entrenched. To what extent the dedicated efforts of the Chief Minister, Mr A.K. Antony will succeed remains to be seen.
At a minimum, our leadership should study the NRI grievances constructively. The success stories of NRIs abroad deserve to be widely studied. The reasons why they succeeded have to be understood. The bureaucracy and political leadership have to learn a lesson from the conditions that led to their success.
To replicate their success in India, we need to recreate similar environment, to the extent possible, given our backwardness.
A roadmap for such a transformation is what one expects from the global investors' meets and the Pravasi Divas. Will we have to wait for another generation of economic reformers or will we get a quick and sure stream of changes?
The promise of dual citizenship alone will not help so long as the regime of rules and regulations remains unchanged. It is this transformation of the whole system that NRI conferences should trigger.
A successful effort of reform should get under way where it counts — in the corridors of power in Delhi, Kolkata and Thiruvananthapuram.
It must be clear that NRIs are no longer "not required in India", but "newly returned to India". Let the NRI conferences start a new reform movement where it matters — in governance and in the social and economic system.
We need to start a new movement to address the concerns of NRIs, even if they may sound too radical and too demanding. They should not be treated as highfalutin and too high-pitched a set of requests. They are bringing to bear a new attitude born out of their rich experience in different countries. It is only appropriate that India gives these suggestions the respect they richly deserve.
The periodic conferences of NRIs will be well worth the while if only the Governments takes the trouble to act on their recommendations and report back at future meetings. NRI conferences should not be treated as routine grievance sessions, but as potentially rich catchment areas for ideas and suggestions — besides the moolah the NRIs undoubtedly bring into India.
Dual citizenship will truly have meaning if the NRIs are heard and their advice taken. One hopes that the latest conference does not end up by being just a formality but represents a new beginning in the tempestuous relationship with our extended and affluent diaspora.
Thursday, October 18, 2007
Wednesday, October 3, 2007
AFJAL J SANAI Story
Afzal J. Sanai a senior and successful NRI, who has been in the Kingdom for the past 29 years. He is the General Manager and Chief Executive of Arabian Farms Development Company Limited, the fifth largest poultry farm in the Kingdom with an output of 175,000 eggs per day. Afzal Sanai is noted for his oratorical skills. His flair for community service is reflected in the charity works that he undertakes. Sanai, who hails from a successful business family of Hyderabad, did his early schooling from All Saints High School before he graduated from Nizam College, Hyderabad, in 1955. He subsequently did his M.A. in English Literature from Osmania University Arts College in 1957. Sanai made a name for himself as a student leader and the winner of many debating competitions. He was the President of Nizam College students’ union 1954-55, and the President of Arts College Students Union (1956-57). He won Inter University live debate on All India Radio in 1956. Sanai launched his career as a Sales Executive with Burmah-Shell Oil Company and worked with it till 1974. Subsequently, he joined the Hyfed Group as Managing partner. In 1977 he moved to the Kingdom and established Arabian Farms with his brother who is a Saudi National. Since its inception, the Arabian Farms has been a huge success, thanks to Sanai’s business acumen and personal dynamism. He was the first nominated Chairman of International Indian School Riyadh. Presently, he is the Chairman of India Forum Riyadh, and patron of Deccan Cultural Association. Happily married to Ms. Sayeeda Banu, he is the father of three children. Two daughters, both married and settled and his son Ajmal Sanai, an MBA, is managing the Dubai branch of Arabian Farms. The following are the excerpts from an exclusive interview with Yahind.com. Yahind: You have established the Arabian Farms Company in 1977. Could you share your experience with us? Sanai: It was a very hard task to begin with. Rules and regulations specially as applied to expatriates are a little harsh. Although ours is a 100% Saudi Company, with my brother as a Saudi national, the entire responsibility of running the company is left to me. So the ground work at the start and thereafter whatever problems arose, continue to arise till today. But they are resolved within the framework of rules and regulations. Yahind: You are a successful entrepreneur both in India and Kingdom. What is the secret of your success ? Sanai: Total commitment to work. You should have no reservations; you should not have hang-ups about people over here; you should know you have come to a new country; its rules and regulation are completely new; some of the rules might appear irrational to you because they are so restrictive, but you have got to learn . The basic attitude I have adopted towards my professional works is to follow the rules and regulations as they are. Otherwise you will be in serious trouble. You must accept the ground realities specially in business. My board of directors says that I have done extremely well. Yahind: You are from a family with business background, how did this help you ? Sanai: The fact that you are from a business family helps you to develop your mindset and define your attitude. If you are in a job and then switch over to business, you are bound to have complexes and phobias. But if you are from a business background, then automatically you tend to have a mindset which helps you a lot. By the grace of Almighty our company never had any losses, not even one single year in these 29 years. Yahind: Bird Flu has affected the poultry industry worldwide. How did you cope with this situation ? Sanai: Avian influenza did not touch the Kingdom, It touched various countries including India. To a large extent the poultry industry in the Kingdom was not affected. The chicken-type poultry was affected because rumors were rife all over, and there was a lot of media hype regarding the bird flu. In its worst form when it mutates, it not only jumps the species—from chicken to human beings--but it can also jump from human being to human being. That possibility is the worst case scenario, as it will lead to a pandemic. Luckily, such a situation did not arise anywhere in the world. In the Kingdom there is no outbreak of the most dangerous H5N1 type of virus. On the other hand, ironically, it has helped us, because in the UAE where we also have a branch of the company, a large quantity of eggs are imported from India. We stopped importing them because there was an outbreak of bird flu of the H5N1 strain in India. The UAE and other Gulf countries similarly stopped the imports from India. That helped us to siphon off our surplus production to many Gulf states. This year we had no problem of surplus production, therefore the prices remained steady . Probably we may end up with the best possible financial year. Yahind: Since the door has been opened for foreign investors in the Kingdom, have you taken advantage of this offer? Sanai: Yes, we have been thinking of starting an egg powder plant here by importing low-priced eggs from India. Prices of eggs are half in India compared to those in the Kingdom. Yahind: Can you elaborate on this egg powder? Sanai: Egg powder is simply a dehydrated egg. The yellow separated and white separated are dehydrated in such a manner that the entire moisture (which is about 80-85%) is removed by the dehydration process, and what remains is a little bit of powder. That powder is very convenient to handle. It can be put in sterilized jars and other kinds of packages suitably sealed and can be stored for several months. Those who don’t want to handle normal fresh eggs due to the storage difficulties , like restaurants, hospitals and army barracks, will find that the egg powder is an excellent substitute. Just add the required amount of water and ingredients needed for an omelette or scrambled egg or whatever type of egg you cook, and it is ready on your table. Yahind: What is your advice to the young entrepreneurs ? Sanai: Believe in what your doing. First you should select a line suitable for your temperament and believe completely that you can do it. Never be afraid of any obstacle and problems that may arise. If you believe in what you are doing and have dedication and commitment to do it, you will succeed. Now a days finance is not a problem if you establish your credentials. Commitment and right selection of business is very important. Yahind: You are also the president of the India Forum. What are the aims and objectives of this forum ? Sanai: It is not yet functional. I am an interim Chairman to look after the organization part of it. It is not going to be a cultural organization or one involved in debates, discussions and so on .The main aim is to get a group of sensible people who have the interest of the community at heart, especially those who have certain qualifications either by way of academic background, business background or working background. And generally to organize forums where capable people will come and speak. It is going to be an organization to enable our group to invite people of some caliber and qualification to give their experience and enlighten our community about what is happening in the world and what is happening in this part of the world etc., Yahind: Being a senior community leader and social worker what is your contribution to the community ? Sanai: I have been Chairman of the International Indian School, Riyadh. When the electoral process started in 2000, we left a surplus budget of SR19 Millions. And that point of time we were ready with land and the plans to construct our own building for the school. When the new committee was elected, the group that was elected with popular vote consisted of people who were different from the kind of people required to run the school. After six years it is in a very sorry state of affairs. Yahind: It is believed that there are lot of differences among the community. Can you elaborate on this ? Sanai: Differences exist because of two reasons primarily, One is because of the ego problem. In Riyadh itself, we have three dozen Kerala Associations and a dozen Tamil associations, what for ?It is purely an ego problem. Some people are not office-bearers of a particular section of an organization or association, so they formed another association. The second reason is the school. The school has become a big divider, people want to become member of the managing committee and chairman. As soon as they become members everybody wants to become the Chairman. Yahind: Are you making any effort to resolve these differences ? Sanai: I am sorry, at this stage I cannot elaborate much on this matter. But I am trying to find a consensus to find the right people to run the school. Because the school is the most important asset of the community. So we have to salvage the school. I am not interested in committee membership, not to speak of the Chairmanship. But I am trying to find an answer to this problem. The school must be run properly. Yahind: What about other differences like you said ego problems. Are you doing anything in this regard? Sanai: Yes, we intend to have under the banner of the India Forum people from various associations, if possible. And if they come with a clean and open mind, then this community can again largely be united and speak with one voice. We are trying to do that, Inshallah. As soon as all the people who are on vacation are back, we propose to have a meeting. Yahind: What is your message to the community? Sanai: Be happy and make others happy Yahind: How do you describe success ? Sanai: Success itself is success, success is automatically a success and there after the ladder to the further success. But basic success guarantees success. Copyright © 2006 YaHind.Com. All rights reserved. The information contained in the YaHind News Portal Report/Article/Interview may not be published, broadcast, rewritten or redistributed without the prior written authority of The YaHind.Com. The contents of this screen are expressly prohibited without the written consent of YaHind.Com For reprint rights: Contact Syndication Service at news[at]yahind.com "replace [at] with @ when you send email".
KS Rajan story
Born in Tellicherry, Kerala, India on 10th July 1945. Father is a retired Educational Officer of Kerala State Government, Grand Father was a scholar from Chandramana Namboothiri family of Ezhimala in Kerala. Holder of degrees in Economics + English Literature and Business Administration with special emphasis in Marketing Member of American Management Association Int’l. (USA) – 1981 Member of British Institute of Management (UK) – 1982 Fellow of Institute of Professional Managers (UK) – 1983
Joined Saudi Catering & Contracting in 1975. Employed as the Marketing Manager of the company which is one of the top 100 companies in the Kingdom of Saudi Arabia. Prior to joining Saudi Catering & Contracting, worked for B.K. Birla Group of India in Bombay. Was actively involved in organizing two National Seminars in India – ‘Development of Human Resources for Industrial Growth’ and ‘Role of Instrumentation in National Development’. Received meritorious award for the later one chaired by the then President of India, Fakrudeen Ahmed. Was active in Public Relations and Liaison with Governement / Ministerial officials during the employment with Birlas. Visited various countries officially : USA, UK, France, Italy, Netherlands, Germany, Switzerland, Lebanon, Dubai, Bahrain, Kuwait, Indonesia, Malaysia, Hong Kong, Singapore, Sri Lanka, Thailand, Australia, Philippines, etc. Rajan is a prominent member of the Indian community in Riyadh. He is a well known snooker player of Riyadh having won many trophies in various open snooker tournaments in Riyadh. Back home he had the privilege of getting trained in this game by the world champions like Wilson Jones and Michael Fereira in early seventies. He also represented Birlas for open inter-company snooker tournaments and won trophies. Rajan was the General Secretary of Malabar Airport Development Committee (MADAC) – a unique venture and the first of its kind in India where people are taking part in the development of government project in Malabar, Kerala. He is also the Ex-President of Kohinoor Toastmasters Club and Ex-Joint Secretary of Embassy of India Club. Rajan was appointed by the Ministry of Education as the Election Commissioner in conducting the first election for the International Indian School under the supervision of the Head of the Foreign Schools Division in Riyadh. Rajan’s wife Sathi Rajan is a post graduate in education and earlier worked as Teacher in King George High School of Bombay and other private schools. His first daughter Dr. Sheeja Rajan is a MBBS Doctor from Bangalore and is married to Engineer Suji working in Dubai. His grand daughter "Arya" was born on 15 Dec. 2002. His second daughter Sheetal Rajan has done her MBA from Mumbai University. Presently she is working with a leading establishment in Banglore, IVEGA Corporation, as an Executive Rajan’s article called “Courageous Decision Made This Kingdom” appeared in a book released by Saudi Ministry of Information viz. ‘Encounters with Saudi Arabia’ and published in Washington. In his article he said – “you only have to work sincerely and efficiently and respect the laws of the country to be a very happy man”!
Joined Saudi Catering & Contracting in 1975. Employed as the Marketing Manager of the company which is one of the top 100 companies in the Kingdom of Saudi Arabia. Prior to joining Saudi Catering & Contracting, worked for B.K. Birla Group of India in Bombay. Was actively involved in organizing two National Seminars in India – ‘Development of Human Resources for Industrial Growth’ and ‘Role of Instrumentation in National Development’. Received meritorious award for the later one chaired by the then President of India, Fakrudeen Ahmed. Was active in Public Relations and Liaison with Governement / Ministerial officials during the employment with Birlas. Visited various countries officially : USA, UK, France, Italy, Netherlands, Germany, Switzerland, Lebanon, Dubai, Bahrain, Kuwait, Indonesia, Malaysia, Hong Kong, Singapore, Sri Lanka, Thailand, Australia, Philippines, etc. Rajan is a prominent member of the Indian community in Riyadh. He is a well known snooker player of Riyadh having won many trophies in various open snooker tournaments in Riyadh. Back home he had the privilege of getting trained in this game by the world champions like Wilson Jones and Michael Fereira in early seventies. He also represented Birlas for open inter-company snooker tournaments and won trophies. Rajan was the General Secretary of Malabar Airport Development Committee (MADAC) – a unique venture and the first of its kind in India where people are taking part in the development of government project in Malabar, Kerala. He is also the Ex-President of Kohinoor Toastmasters Club and Ex-Joint Secretary of Embassy of India Club. Rajan was appointed by the Ministry of Education as the Election Commissioner in conducting the first election for the International Indian School under the supervision of the Head of the Foreign Schools Division in Riyadh. Rajan’s wife Sathi Rajan is a post graduate in education and earlier worked as Teacher in King George High School of Bombay and other private schools. His first daughter Dr. Sheeja Rajan is a MBBS Doctor from Bangalore and is married to Engineer Suji working in Dubai. His grand daughter "Arya" was born on 15 Dec. 2002. His second daughter Sheetal Rajan has done her MBA from Mumbai University. Presently she is working with a leading establishment in Banglore, IVEGA Corporation, as an Executive Rajan’s article called “Courageous Decision Made This Kingdom” appeared in a book released by Saudi Ministry of Information viz. ‘Encounters with Saudi Arabia’ and published in Washington. In his article he said – “you only have to work sincerely and efficiently and respect the laws of the country to be a very happy man”!
Javed Hassan -NRI's should invest
Indian expats should launch book project, says journalist
RIYADH: A veteran Indian journalist has stressed the need on the part of the Indian expatriate community in Saudi Arabia to pool their enormous intellectual resources into a book project to let the Saudis know about their contribution to the Kingdom.
"Saudis do not know enough about Indian contribution to the Kingdom, since they tend to identify their country with the labor class," said Javid Hassan, Senior Reporter of Arab News, where he has been working for nearly 25 years. He gave this exclusive interview to www.YaHind.Com - The First Indian Portal in the Kingdom on the occasion of the 30th anniversary of Arab News, the Middle East's leading English language daily.He said it is unfortunate that the NRIs, despite having a wealth of talent across a broad spectrum of specialized fields, have failed to come up with a book that would enlighten Saudis on their major contributions to the Kingdom's national development. As a result, the average Saudi citizen is not aware of their distinguished achievements in different fields. In this context, Hassan cited the example of Project Honey Bee launched by the entrepreneurs of Gujarat. Under this project experts from different fields get together and share their ideas and experience for the benefit of the community. To this end, he pointed out, hundreds of technology students in Gujarat came up with schemes for the transfer of technology to small-scale ventures in that state through cost-effective solutions.He said a similar project, under the banner, Project Honey Bee Saudi Arabia, could be initiated by NRIs as part of an awareness campaign about the role of the Indian community in the Kingdom's economic development program. Indian doctors, engineers, architects, computer programmers, academicians and other professionals could write about some of their outstanding achievements in those fields."There should be an executive summary in Arabic highlighting the contributions of Indian expatriates in Saudi Arabia," the journalist said, adding that a similar book has been brought out by western expats in the Kingdom. He said it is regrettable that members of the Indian community, instead of mobilizing their enormous intellectual resources for productive use, spend a great deal of time socializing over dinner parties. "In the process, they are also taxing their health and creating cardiovascular problems for themselves," he observed. In this context, Hassan has a word of advice to the community. "Here the level of disposable income is quite high. Besides, there is a wide choice of food to tickle one's taste buds. In such a situation people succumb to the temptation of taste over the nutritious value of food. That's the starting point of all health problems. The longer is one's girth, the shorter is the life span, say doctors." Regular exercise, consumption of low-fat food and an active lifestyle would be highly beneficial.Hassan suggested that besides taking up this creative project, they could also share their experience online through www.YaHind.Com for the benefit of other members of the community. Equally important was the need for a directory of Indian professionals together with their contact addresses. Such a venture could go a long way in creating more job opportunities for their fellow countrymen.Asked to give suggestions to his compatriots back home, he said it is absolutely necessary that those aspiring to come to Saudi Arabia should learn Arabic, which would definitely give them a leverage over others in the Kingdom's competitive market. He said Saudi Arabia, which earned $ 345 billion in oil revenues last year—35 percent up over the previous year—has allocated a hefty budget for the setting up of 2,000 health centers all over the Kingdom. It is also planning to spend SR 15 billion for opening 4,000 schools in the long run. Plans are also under way for establishing Jubail-II industrial city in the Eastern Province. This is in addition to an IT park that is going to be established by the Riyadh Development Authority in collaboration with the Riyadh Chamber of Commerce and Industry."In other words, there will be a great demand for doctors, paramedical personnel, nurses, biomedical engineers, teachers, computer programmers and engineers, webdesigners and a whole range of technicians down the line. Indians can greatly enhance their employment prospects by acquiring the additional advantage of the knowledge of Arabic, " he observed. Saudis open up when someone communicates with them in Arabic, no matter which nationality he belongs to, Hassan said. According to him, the Government of India should also promote tourism by targeting Saudis going there for recruitment purpose. "They should be shown IT centers of Bangalore, Hyderabad, Chennai, Mumbai, besides centers of educational and medical excellence in different parts of the country."He said this is the right time to focus attention on Saudi Arabia and other Gulf states, since there is a perceptible change in policy of the GCC states. Saudi Arabia, he pointed out, would like to establish closer relations with the countries of South, Southeast Asia and the Far East. "This is the time to strike while the iron is hot."Asked what could be done by the Federal government in New Delhi to promote manpower export to the Gulf, he said that the accent should be on IT and other professional disciplines. In this context, he commended the initiative of the Kerala government which has set up Non-Resident Keralites Affairs Department (NORKA) to promote the welfare of Malayalees residing in the Gulf states. A similar body needs to be established at the all-India level, he observed. Asked about his future plans, Hassan said he is planning to write a book about his experience in the Kingdom. "Thanks to Arab News, I have visited 23 countries around the world and took notes during my travels abroad. I observed their culture from close quarters and hope to sum up my experience in a book. For this, I have to do research, conduct surveys, and come up with something interesting and newsworthy," he added.The journalist said Indian expatriates have carved out a niche for themselves as a talented and hard-working community. They have earned the respect of Saudis as a law-abiding people. It is for this reason that Saudi security forces feel relaxed in their presence and let them go anywhere without much scrutiny or probing questions. The following are some of the other questions:Q. You have been working for Arab News for nearly 25 years. How have you managed to stay this long?A. I believe in working sincerely and with devotion. As journalists we are the public face of our newspaper. We cannot afford to be slipshod in our work or relax our guard at any time. That would be a disaster. This also applies to professionals in different walks of life. More than anything else, they should be conscious of their own image in terms of workmanship.If for any reason they become indifferent in their work, others will be quick to point out their mistakes, irrespective of the circumstances that he or she might be placed in. But if the employee continues to perform well and deliver results under all circumstances, he is setting his own benchmark. This could attract the attention of others in the field and pay dividends in the long run.Q. From your long experience what advice would you give to Indians back home aspiring for a break in Saudi Arabia or other Gulf states?A. I have noticed that the concept of the contractual system in the Kingdom tends to put everybody on his toes. No one can compromise on quality except on the pain of losing one's job.This system is lacking in India, where the concept of job permanency, backed up by trade unionism, has played havoc with productivity. When an employee basks in his firm belief that once hired he cannot be fired, it produces a mindset that could be counterproductive to the organization. Over here, the linkage between performance and renewal of contract ensures a high level of productivity. Thus Indians who would normally be lacklustre in their performance back home tend to be highly productive in the Gulf.Q. Any other advice to the newcomers to Saudi Arabia? A. Yes, they should take care of their health and do regular exercise. Here you have a high level of disposable income and the freedom to taste the choicest food. This puts you in a bind. Either please your palate, eat without any self-restraint, and end up with cardiovascular problems, or go for nutritious low-fat diet, lead an active lifestyle, and stay healthy. The choice is yours. Q. Where did you have your schooling?A. I am originally from Hyderabad, but have settled down in Bangalore for the last 25 years. I had my primary and secondary education from Madras-e-Aliya, where my classmates were Asif Iqbal and Ghiasuddin Babu Khan, now celebrities in their different fields. I did B.Sc. and journalism post-graduate course from Osmania University. Journalism was in my blood, since my father himself was a well-known journalist of his times. As a journalism student, I used to do part-time reporting for a newsweekly from Hyderabad. Even as a journalism student, I was the student editor of Osmania University's Science College magazine. I had a passion for enriching my vocabulary and improving my language. So I had literary pastimes, so to speak.
RIYADH: A veteran Indian journalist has stressed the need on the part of the Indian expatriate community in Saudi Arabia to pool their enormous intellectual resources into a book project to let the Saudis know about their contribution to the Kingdom.
"Saudis do not know enough about Indian contribution to the Kingdom, since they tend to identify their country with the labor class," said Javid Hassan, Senior Reporter of Arab News, where he has been working for nearly 25 years. He gave this exclusive interview to www.YaHind.Com - The First Indian Portal in the Kingdom on the occasion of the 30th anniversary of Arab News, the Middle East's leading English language daily.He said it is unfortunate that the NRIs, despite having a wealth of talent across a broad spectrum of specialized fields, have failed to come up with a book that would enlighten Saudis on their major contributions to the Kingdom's national development. As a result, the average Saudi citizen is not aware of their distinguished achievements in different fields. In this context, Hassan cited the example of Project Honey Bee launched by the entrepreneurs of Gujarat. Under this project experts from different fields get together and share their ideas and experience for the benefit of the community. To this end, he pointed out, hundreds of technology students in Gujarat came up with schemes for the transfer of technology to small-scale ventures in that state through cost-effective solutions.He said a similar project, under the banner, Project Honey Bee Saudi Arabia, could be initiated by NRIs as part of an awareness campaign about the role of the Indian community in the Kingdom's economic development program. Indian doctors, engineers, architects, computer programmers, academicians and other professionals could write about some of their outstanding achievements in those fields."There should be an executive summary in Arabic highlighting the contributions of Indian expatriates in Saudi Arabia," the journalist said, adding that a similar book has been brought out by western expats in the Kingdom. He said it is regrettable that members of the Indian community, instead of mobilizing their enormous intellectual resources for productive use, spend a great deal of time socializing over dinner parties. "In the process, they are also taxing their health and creating cardiovascular problems for themselves," he observed. In this context, Hassan has a word of advice to the community. "Here the level of disposable income is quite high. Besides, there is a wide choice of food to tickle one's taste buds. In such a situation people succumb to the temptation of taste over the nutritious value of food. That's the starting point of all health problems. The longer is one's girth, the shorter is the life span, say doctors." Regular exercise, consumption of low-fat food and an active lifestyle would be highly beneficial.Hassan suggested that besides taking up this creative project, they could also share their experience online through www.YaHind.Com for the benefit of other members of the community. Equally important was the need for a directory of Indian professionals together with their contact addresses. Such a venture could go a long way in creating more job opportunities for their fellow countrymen.Asked to give suggestions to his compatriots back home, he said it is absolutely necessary that those aspiring to come to Saudi Arabia should learn Arabic, which would definitely give them a leverage over others in the Kingdom's competitive market. He said Saudi Arabia, which earned $ 345 billion in oil revenues last year—35 percent up over the previous year—has allocated a hefty budget for the setting up of 2,000 health centers all over the Kingdom. It is also planning to spend SR 15 billion for opening 4,000 schools in the long run. Plans are also under way for establishing Jubail-II industrial city in the Eastern Province. This is in addition to an IT park that is going to be established by the Riyadh Development Authority in collaboration with the Riyadh Chamber of Commerce and Industry."In other words, there will be a great demand for doctors, paramedical personnel, nurses, biomedical engineers, teachers, computer programmers and engineers, webdesigners and a whole range of technicians down the line. Indians can greatly enhance their employment prospects by acquiring the additional advantage of the knowledge of Arabic, " he observed. Saudis open up when someone communicates with them in Arabic, no matter which nationality he belongs to, Hassan said. According to him, the Government of India should also promote tourism by targeting Saudis going there for recruitment purpose. "They should be shown IT centers of Bangalore, Hyderabad, Chennai, Mumbai, besides centers of educational and medical excellence in different parts of the country."He said this is the right time to focus attention on Saudi Arabia and other Gulf states, since there is a perceptible change in policy of the GCC states. Saudi Arabia, he pointed out, would like to establish closer relations with the countries of South, Southeast Asia and the Far East. "This is the time to strike while the iron is hot."Asked what could be done by the Federal government in New Delhi to promote manpower export to the Gulf, he said that the accent should be on IT and other professional disciplines. In this context, he commended the initiative of the Kerala government which has set up Non-Resident Keralites Affairs Department (NORKA) to promote the welfare of Malayalees residing in the Gulf states. A similar body needs to be established at the all-India level, he observed. Asked about his future plans, Hassan said he is planning to write a book about his experience in the Kingdom. "Thanks to Arab News, I have visited 23 countries around the world and took notes during my travels abroad. I observed their culture from close quarters and hope to sum up my experience in a book. For this, I have to do research, conduct surveys, and come up with something interesting and newsworthy," he added.The journalist said Indian expatriates have carved out a niche for themselves as a talented and hard-working community. They have earned the respect of Saudis as a law-abiding people. It is for this reason that Saudi security forces feel relaxed in their presence and let them go anywhere without much scrutiny or probing questions. The following are some of the other questions:Q. You have been working for Arab News for nearly 25 years. How have you managed to stay this long?A. I believe in working sincerely and with devotion. As journalists we are the public face of our newspaper. We cannot afford to be slipshod in our work or relax our guard at any time. That would be a disaster. This also applies to professionals in different walks of life. More than anything else, they should be conscious of their own image in terms of workmanship.If for any reason they become indifferent in their work, others will be quick to point out their mistakes, irrespective of the circumstances that he or she might be placed in. But if the employee continues to perform well and deliver results under all circumstances, he is setting his own benchmark. This could attract the attention of others in the field and pay dividends in the long run.Q. From your long experience what advice would you give to Indians back home aspiring for a break in Saudi Arabia or other Gulf states?A. I have noticed that the concept of the contractual system in the Kingdom tends to put everybody on his toes. No one can compromise on quality except on the pain of losing one's job.This system is lacking in India, where the concept of job permanency, backed up by trade unionism, has played havoc with productivity. When an employee basks in his firm belief that once hired he cannot be fired, it produces a mindset that could be counterproductive to the organization. Over here, the linkage between performance and renewal of contract ensures a high level of productivity. Thus Indians who would normally be lacklustre in their performance back home tend to be highly productive in the Gulf.Q. Any other advice to the newcomers to Saudi Arabia? A. Yes, they should take care of their health and do regular exercise. Here you have a high level of disposable income and the freedom to taste the choicest food. This puts you in a bind. Either please your palate, eat without any self-restraint, and end up with cardiovascular problems, or go for nutritious low-fat diet, lead an active lifestyle, and stay healthy. The choice is yours. Q. Where did you have your schooling?A. I am originally from Hyderabad, but have settled down in Bangalore for the last 25 years. I had my primary and secondary education from Madras-e-Aliya, where my classmates were Asif Iqbal and Ghiasuddin Babu Khan, now celebrities in their different fields. I did B.Sc. and journalism post-graduate course from Osmania University. Journalism was in my blood, since my father himself was a well-known journalist of his times. As a journalism student, I used to do part-time reporting for a newsweekly from Hyderabad. Even as a journalism student, I was the student editor of Osmania University's Science College magazine. I had a passion for enriching my vocabulary and improving my language. So I had literary pastimes, so to speak.
Demat Trading
Demat Trading
Instead of signing the transfer deed as seller and delivering share certificates to a broker, you shall give your DP debit instruction when you sell your shares in the electronic form. You can trade through any broker of your choice registered with the stock exchanges connected with NSDL but will have to provide the details of your account with the DP. The money would be received from the broker/ paid to the broker in the same fashion as done in case of buying/ selling of physical shares. The DP will provide you a statement updated every fortnight giving details of your holdings.
Shares bought in the electronic form can be pledged/ hypothecated by making application to the DP in the prescribed form. For the purpose of calculation of capital gains tax, the cost of acquisition of shares would be determined on the principle of first in first out. The process of opening an account with a DP is similar to the opening of bank account. Photograph, Introduction and signing the prescribed agreement form are some of the requirements.
If there are any discrepancies in your holdings statement or pass book entries, you can contact your DP. If the problem cannot be resolved at DP end, you can approach NSDL. There is absolutely no restriction to the number od DPs you can open accounts with. Just as you can have savings or current accounts with more than one bank, you can open accounts with more than one DP.
There is no minimum balance required for your account with DP. In fact you could have nil security in your account.
What's the security that a person have with respect to proof of his holdings? Upon opening an account with DP, you sign an agreement where the DP indemnifies you for any misuse of your holdings.
When any company announces right, bonus or dividend for a particular security, the DP will give details of the clients having electronic holdings of that security as of record date/ book closure to the registrar. The registrar will then calculate the benefits due to all shareholders. The disbursement of cash benefits like dividend or interest will be done by the registrar whereas distribution of securities entitlements will be done by the DP based on information provided by the registrar.
The investor retains the choice of receiving the corporate benefits in physical or electronic form. For discrepancies in corporate benefits in the form of securities, you can approach your DP who will then approach the registrar. In case of discrepancies in cash benefits, you will have to contact the registrar directly.
Instead of signing the transfer deed as seller and delivering share certificates to a broker, you shall give your DP debit instruction when you sell your shares in the electronic form. You can trade through any broker of your choice registered with the stock exchanges connected with NSDL but will have to provide the details of your account with the DP. The money would be received from the broker/ paid to the broker in the same fashion as done in case of buying/ selling of physical shares. The DP will provide you a statement updated every fortnight giving details of your holdings.
Shares bought in the electronic form can be pledged/ hypothecated by making application to the DP in the prescribed form. For the purpose of calculation of capital gains tax, the cost of acquisition of shares would be determined on the principle of first in first out. The process of opening an account with a DP is similar to the opening of bank account. Photograph, Introduction and signing the prescribed agreement form are some of the requirements.
If there are any discrepancies in your holdings statement or pass book entries, you can contact your DP. If the problem cannot be resolved at DP end, you can approach NSDL. There is absolutely no restriction to the number od DPs you can open accounts with. Just as you can have savings or current accounts with more than one bank, you can open accounts with more than one DP.
There is no minimum balance required for your account with DP. In fact you could have nil security in your account.
What's the security that a person have with respect to proof of his holdings? Upon opening an account with DP, you sign an agreement where the DP indemnifies you for any misuse of your holdings.
When any company announces right, bonus or dividend for a particular security, the DP will give details of the clients having electronic holdings of that security as of record date/ book closure to the registrar. The registrar will then calculate the benefits due to all shareholders. The disbursement of cash benefits like dividend or interest will be done by the registrar whereas distribution of securities entitlements will be done by the DP based on information provided by the registrar.
The investor retains the choice of receiving the corporate benefits in physical or electronic form. For discrepancies in corporate benefits in the form of securities, you can approach your DP who will then approach the registrar. In case of discrepancies in cash benefits, you will have to contact the registrar directly.
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