Reforms Key to India's Economic Growth

After years of stringent policies the socialistic pattern was done away with by Manmohan Singh as a finance minister. The UPA government promises more reforms under Manmohan now the Prime Minister of India.

The government announced to the industry a new set of reforms in order to boost the slow down in manufacturing sector. This reforms will come about with setting of a joint task force with India Inc.   

Several suggestions has been forwarded to the government for consideration. The reforms also include sectors like Income Tax, FDI, goods and services, and multi brand retail as well. All this transpired whence Commerce Mimister Anand Sharma held a review meeting with CII. He also intends to hold a review meeting with FICCI soon.      

The urgency came into picture due to dismal industrial performance where the growth slipped down to 5.6 %. It also augured the need for a positive business environment in the country.  Many factors and issues will be taken into consideration for a positive outcome. 

Opportunities for US

For slowdown in economic growth and poor employment rate solution can be found elsewhere in China and India suggests Business Week. The economy news magazine sees opportunities for American products in under developed countries.

The key to success is niche products with a greater degree of difficulty in the manufacturing process. Hence these products cannot be replicated or discounted. Cutting edge technology can yield robust order from less developed countries. 

Countries like India and China will always maintain economic growth in the near future. Setting up plants in these countries will be an effective cost cutting exercise. The strategy will result is  robust growth for the US concerns.

Dye Manufacturing Key Issues

Dyes are substance or chemicals which impart color to a material. The manufacturing process is complex and at times hazardous. The techniques differ in manufacturing of various dyes. After the invention of synthetic coloring agents many product types have been manufactured for different applications. The process requires synthesizing, filtration, drying and blending with other products and additives. The final product is then ready for use. After synthesis the product is separated using distillation precipitation and then crystallization. After this fishing operations are carried out.

The manufacture releases air pollutants some of them are NO2, SO2, volatile organic compounds and hydrogen chloride. Solid wastage effluents and sludge are also of major concern. Various treatment methodologies are applied to destroy or lessen the presence of toxic elements released during production.

Pollution prevention and control is a must during the process of production. The amount of toxic wastes has to be minimized. Use of alternative dyestuff is recommended instead of azo dyes for textile manufacturers. It is wise to reuse intermediates or by products than throw them. Minimize spillage by using automated filling plants similarly toxic packing material can be sent to the supplier for reuse. Reduce the generation of waste water and discover uses for rejected lots if possible. Replace highly harmful raw materials with bio degradable ones.

Land use for the plant and the neighboring lands should be protected from toxic pollutants and wastes. On instance of accidental release or spillage of toxic substances a prevention and protection plan should be ready. Quality design inputs and maintenance should be implemented in order to minimize toxic emissions. Careful monitoring and control process along with frequent analysis and reporting is a must. 

The complicated process of dye manufacturing in India is highly advanced. The chemical industry produces many dyestuffs and intermediates to facilitate the production locally. The products are slod with India as well as exported to many other countries in the world.   

Business success pathway

Throughout the world business success has come to those who started small. This does not mean mega entrants have not succeeded but the risk is very high. A very innovative approach has to be adopted in order to start with a bang. All entrepreneurs dream of overnight success but the smart one must start small.

They know that business growth is evolutionary and required infrastructure for high turnover takes time to be built. Most of the large scale businesses in India or mega corps have reached zenith over the decades. The untiring efforts of the pioneers resulted in creating an empire. But this is not a fixed paradigm especially in the days of professional management services.

Though not overnight the exponential growth that Dhirubhai’s business enterprises underwent is remarkable. This was a one man performance similar to phenomenal rise of Infosys and Bill Gates Microsoft Corporation. But than not everyone is born with the characteristics of Dhirubhai, Narayan Murthy or Bill Gates. These greats have built an empire with limited resources.

For small time starters it is imperative that they take note of their resources. They must work within the limitation heavy institutional borrowing can be a bad strategy. Only whence at a stage growth is assured then one should go for rapid expansion. For many this can be a decade long process. Lot of grit and determination is required along with a clear foresight.

The aim and objectives have to be pursued relentlessly in order to succeed. Hence to avoid ending in a disaster dream big but act wisely one step at a time in measured pace.

Jan LokPal Bill

Jan Lokpal Bill is an instrument to control corruption in sociopolitical, business and administrative life of India.  It is also designed to address public grievances and protect those who throw open the lid on major political or business scandals.  The bill is supposed to work like an ombudsman.

It has become big matter of controversy with varied  views. The major hindrance for political system to accept it in form advocated by its proponents is that it dilutes the power of the parliament.It is construed by many as being antithesis to the parliamentary systems.    

The bill incorporates power investigate corrupt politicians, administrative and all others under its ambit without prior permission and independently.  This bill first issued in the year 1968 has undergone many variations but has yet to be cleared by both the houses.

A compromise bill is being favored as against the one proposed by Anna Hazare and his supporters. The bill seeks to empower people to keep an eye on the systems and punish those found guilty. This is perceived unconstitutional by many among the ruling class.    

Card Banking

Every since the financial institutions started using the electronic payment systems the business World has changed. Most popular has been the ATM card. This can be debit or credit as well. This is used for with drawing money from automatic teller machine. The machines are a virtual banking systems with ability to produce balance receipt as well. 

These are plastic laminated with your signature at the back and a unique number called personal identification number or pin. The versatility of ATM cards have increased with many types om authenticating systems in place.In case of all cards the electronic verification systems verifies the authenticity in seconds for processing.

The credit card was conceptualize from a novel it is a follower of many merchant credit schemes. This is issued mostly by the banks. It has a revolving account with a credit limit as per the assessment of borrower. These are not universal and merchants always advertise the institutions from whom the cards are acceptable. The debit card provides electronic access to the holders bank account. It is also used in ATM machines. It is also possible to use it for merchant banking like paying bills at stores and restaurants. They can be used for making purchases on the cyber space. There are also available virtual cards for making Internet payments with no physical attributes at all.