Want to get rich quick? Have a fabulously wealthy family.
The rich haven't gotten richer--or poorer--this year.
Big agribusiness may boost crops temporarily, but wreaks environmental havoc over the long term. Punjab's grand narrative, a success story of bumper harvests, conceals dangerous subplots of pesticide poisoning, water shortages, soil salinity, fertiliser runoff, skyrocketing cancer rates, farmer indebtedness and drug addiction. The world is faced with hungry populations and a collapsing environment is how to reconcile the powerful forces of a global economic system.
The decision to call off the sale of 26 per cent equity, a process started eight months ago, was taken after three days of discussion at the Board of IFCI on the conditions spelt out by the successful bidder -- a consortium of Sterlite Industries and Morgan Stanley.
A consortium of Anil Agarwal-led Sterlite Industries and global financial services major Morgan Stanley has emerged as the frontrunner in the race to acquire a strategic 26 per cent equity stake in the troubled financial institution IFCI Ltd.Besides Sterlite, two other consortiums - Shinsei Bank-PNB-JC Flowers and Cargill Financial Services Corporation-Texas Pacific Group - had put in bids on December 14.
Debt conversion formula will increase govt stake.
Experts say the presence of varied agro-climatic conditions along with favourable conditions for cultivation has helped India to become the world's largest producer across a range of commodities.
Leveraged buyout titans David Bonderman and James Coulter of Texas Pacific Group make their first appearance on the list, along with William Conway, Daniel D'Aniello and David Rubenstein of the Carlyle Group.
The Indian government is on a wheat buying mission. Officials said India will buy a record amount of the commodity to increase stockpiles even as the world price of wheat has skyrocketed.
In a move to express the state's displeasure, Punjab Chief Minister Parkash Singh Badal has sought a meeting with Prime Minister Manmohan Singh over the issue of importing wheat at a higher price of $317-$330 per tonne.
Agricultural exports to date have to be undertaken under a quota system. Thus the government till recently was the final and only authority on what the farmer could get for his labours.
The Indian government had asked the US Administration to ensure that American millers meet strict quality norms to the wheat to be imported to India.
The Central government is in a piquant situation now as far as wheat import is concerned. The government wants the bidders for the 1 million tonne wheat import contract to reduce their prices for the bid.
The Indian government has asked the United States Administration to ensure that American millers meet strict quality norms to the wheat to be imported to India.
As long as PepsiCo is in the beverage business in places like India, it will remind potential customers of a resource that's increasingly in short supply.
Many fantastically rich people slip under the general public's radar. Including the world's second-wealthiest man
Seven global companies are in the fray for supplying over one million tonnes of wheat to India.
Seven global companies are in the fray for supplying over one million tonnes of wheat to India.
Procurement of food grains is the new sector where outsourcing is soon going to get a foothold.
India, the world's second-biggest wheat consumer, may import up to 5 million tonnes of wheat this year, said Union agriculture minister Sharad Pawar a few days ago.
Ingenious farmers in Punjab have decided to hold on to their wheat till the market is ready to offer them better prices.
In Uttar Pradesh, it seems, there are no takers for the government agencies as far as wheat collection is concerned.
The government decision to extend the period for duty-free wheat imports till December 31 is unlikely to help private players as international prices are too high.
Companies offering much more for wheat than govt's Rs 850 a quintal.
KPIT Cummins Infosystems, a global IT consulting organisation, announced on Tuesday a definitive agreement with Cargill Ventures to issue shares of $4.5 million on a preferential basis, in addition to warrants convertible into shares of up to $4.5 m.
To augment its storage capacity, Reliance Retail is seeking to hire capacity with the government-owned Food Corporation of India. This has been complemented by low foodgrain stocks with FCI and the surplus storage capacity.
The Left Front government led by the Communist Party of India (Marxist) in West Bengal got tributes from the US-India Business Council.
It has permission to use five per cent of the Assam plantations for non-tea crops, where it already grows spices and vegetables, and it is awaiting similar permission for the West Bengal plantations.
Retailers like Reliance are buying bulk produce directly from farmers.
Amalgamated Plantations, the company to which the Tatas will transfer its NIPO business, covers the company's 20 plantations in Assam and five in Dooars (West Bengal) covering 24,000 hectares.
The government has also swung into action to ensure that it is able to procure adequate quantities and avoid imports at exorbitant rates.
Nothwithstanding the controversy last year over private procurement of wheat, domestic and multinational companies are getting set for another round of large-scale purchases this rabi season.
These folks have the fortune, without the hassle of the fame.
American business leaders may find that India's biggest impact on the global economy may be on the way executives think.
Cargill, Universal Leaf, ChrysCapital feel the heat.
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