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Supreme Court verdict on EVMs — why upholding the voter’s trust is important

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The Supreme Court verdict on the petitions against use of EVMs, seeking counting of 100% of VVPATs slips and return to the earlier practice of paper ballots, on Friday should put an end to the controversy around the alleged manipulation with machines and the process. It is time for political parties to continue to work with the Election Commission of India in the march towards ensuring a robust system keeping in line with changing technology and uphold the voter’s trust, observes political analyst and writer K V Prasad.

The decision of the Supreme Court on Friday rejecting a plea to count 100% of the slips generated by the Voter Verifiable Paper Audit Trail (VVPAT) and return to the previous system of voting through paper ballots should put an end to the current controversy on voting through Electronic Voting Machines. 

The verdict by a bench of Justice Sanjiv Khanna and Justice Dipankar Datta rejecting the prayer, brings to a close a discussion. It centred around the efficacy of the EVM system and on integrity of the process that surfaces intermittently around elections to the Lok Sabha and to those of State Assemblies.

Political parties, which have suffered electoral reverses have at different times raised doubts over the EVMs and knocked the doors of the courts seeking intervention. Over the years, several additional safeguards have been incorporated into the process of voting through EVMs in order to address concerns including a sample count of VVPAT slips, a mechanism arrived at with scientific inputs. 

This time too, new checks have been introduced for candidates who have questions over the result. The direction to preserve the data on the machines for 45 days and a provision to cross-check would strengthen the system and address concerns. 

In addition, to address the issue of demands to cross-verify the slips generated by the VVPAT with votes recorded on the machine, a suggestion of generating party-specific barcodes was articulated. For a country known for its strength in the world of Information Technology, additional security features to keep pace with the changing technology and pitfalls associated with it can be done to ensure the process is not vitiated.

Conduct of voting through paper ballots was the mainstay of Indian elections since the first general polls in 1951-1952 amid concerns towards the later part of 1970s. Considering the logistics,  complaints of booth-snatchings, stuffing of the ballots deploying muscle power, were required to be addressed.

To provide an instance on the use of EVMs and its efficacy both in terms of time and resources, former Chief Election Commissioner, Dr. S.Y. Quraishi in his book —An Undocumented Wonder: The Making of the Great Indian Election — noted; “ Aside from being voter-friendly and an excellent time saver during the counting process, EVMs are also environmentally friendly. By using EVMs in all the polling stations in the country in the 2009 general elections, 11,000 metric tonnes worth of paper was saved!”.

It is known that saving paper and reference to the environment is an apparent reference to the number of trees that would have been brought down besides, the resource involved in transporting the huge ballot boxes, safe-keeping as mandated under law even after the results and attending logistics would rise.

Take for instance, if voting was to be held with paper ballots in the current round of elections with nearly 97 crore of citizens with the right to vote, would require the ECI to print as many ballots. The size would vary depending upon the number of contestants, time consumed in exercising the vote and in counting these. In addition, the ballots which remain unused too, have to be preserved and eventually disposed of according to procedure of the process.

Besides taking care of the malaise of booth-capture and ballot stuffing, EVMs have  speeded up both the voting and counting process. It also addressed the issue of invalid votes which at times led to delay in counting as poll agents of parties would dispute in deciphering the voter preference.

Now, different political parties should work together with the poll body in the march towards maintaining and consolidating voter’s trust in the process. The process of introducing EVMs is over four decades old. It happened only after political parties agreed to the provision of having machines to conduct elections.

Timeline of EVMs 

    • 1977:  Chief Election Commissioner  S. L. Shakdhar talked about introducing an Electronic machine.
    • 1980-81: EVMs developed and demonstrated by ECIL and BEL.
    • 1982-83: EVMs used for the first time in 50 polling stations of Parur Assembly Constituency  in Kerala.   And then in 11 Assembly Constituencies: 8 states, 1UT.
    • 1984:  SC suspends EVM usage: cannot be used till RP Act is amended.
    • 1988: RP Act amended: enabling use of EVMs w.e.f. 15.03.1989.
    • 2018:  SC dismissed petition asking for return to Ballot papers!

(Source: Election Commission of India)

The experiment to conduct the most important part of elections, of the voter exercising franchise, actually began in 1982-83. But it took another five years to have the legislative backing for the move. First thought of during 1977, it took two years for the initial prototype to be developed and demonstrated to parties.

Paravur Assembly Constituency in Kerala was where the machine was utilised first in 1982, but its use in the election was struck down by the Supreme Court, since there was no provision in the Representation of the People Act, 1951 for EVM. After amendment to the law in 1989 and the end of another round of legal challenge, a consensus to use the EVMs was arrived at in 1998. 

Then began the journey of EVMs and its gradual use in elections first to polls electing State Assemblies and finally across the country in the 2004 general elections. 

 

The author, K V Prasad, is an author and political analyst. The views expressed are personal.    
Read his previous articles here

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

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Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
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Legal Digest | Why did Supreme Court quash the proceedings in Chhattisgarh liquor scam

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Money laundering doesn’t happen in isolation but in relation to one of the predicate offences snowballing into money laundering, points out Chartered Accountant S Murlidharan. 

Case 1:  No predicate offence means no proceeds of crime 

On April 8, the Supreme Court quashed the proceedings under what has come to be known as the Chhattisgarh liquor scam in Yash Tuteja VS Union of India on the ground that the complaint by the Enforcement Directorate was in an income tax matter which did not figure under the schedule in the Prevention of Money Laundering Act (PMLA). 

Exemplary predicate offences include narco-trafficking, tax evasion, murder, grievous bodily harm, corruption, fraud, smuggling, human trafficking, illegal wildlife trafficking, and forgery.  It seems the prosecution while inputing tax offences was not able to pin it down precisely on tax evasion. 

Anyway, the point is money laundering doesn’t happen in isolation but in relation to one of the predicate offences snowballing into money laundering.  Small wonder, the list of predicate offences is growing as proceeds of crime are sought to be laundered which is a grievous offence under the PMLA. Money laundering is done to vest the proceeds of crime with a vestige of legitimacy, contrived although.

Case 2: Legal heirs of a deceased partner not liable   

In a recent case — Annapurna B Uppin and others VS Malasiddappa & another — the Supreme Court disabused the notion that the legal heirs of a deceased partner are liable for the debts and dues of the firm. This is a significant judgement in as much as the unlimited liability of partners was hitherto meant to burden the legal heirs as well with such unlimited liability. 

Now it turns out that such unlimited liability exists only during the lifetime of a partner. Incidentally, the concept of LLP or limited liability partnership sprung up and caught the imagination of wannabe businessmen and professionals to have best of both the worlds — limited liability enjoyed by the shareholders of companies and flexibility in operations enjoyed by partners. The recent verdict has somewhat eased the burden on the legal heirs of partners and to that extent there may be revival of interest in partnership firms away from LLP. 

Case 4: Mere invoice and proof of payment not enough for granting input tax credit 

There have been regular reports of fake claims of input tax credit (ITC) under the GST. It is in this context that the Allahabad High Court’s recent verdict in a matter — Commissioner, Commercial Tax v. S/S Soma Enterprises Ltd — is significant.  The Court quoted the Supreme Court in M/s Ecom Gill Coffee Trading Private Limited in support of its finding that mere invoice and proof of payment by themselves are not enough for being eligible for ITC.

“The dealer claiming ITC has to prove beyond doubt the actual transaction which can be proved by furnishing the name and address of the selling dealer, details of the vehicle which has delivered the goods, payment of freight charges, acknowledgement of taking delivery of goods, tax invoices and payment particulars etc. “

These extra precautions are justified in the light of past experiences where ITC has been claimed by generating fake transactions not happening on the ground.  Given the large stakes involved, the authorities may be even justified in asking for store registers to satisfy themselves that the inputs indeed were used in the manufacture of the outputs.

 

Compiled by S Murlidharan, a chartered accountant and a tax and legal expert. The views expressed in this column are personal.    

Read the previous Legal Digest columns here  

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
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2024 Lok Sabha Election | Which way the wind blows in the second phase

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

With 88 seats in the fray, the second phase is not just another chapter; it’s a pivotal juncture where the triad of Kerala, Karnataka, and Rajasthan hold the keys to the kingdom. More than half of the seats lie in these battleground states, each with its own tale of political intrigue and historical allegiances, writes political observer and columnist Sayantan Ghosh.

In the grand theatre of Indian democracy, the second act unfolds with a narrative as compelling as the first. As the second phase of the voting is about to conclude, the air is thick with more anticipation and anxieties too. 

The first phase was a testament to the opposition’s resilience, where its  voices echoed through the polling booths with a resounding strength. Yet, as the pages of the electoral almanack turn, the Bharatiya Janata Party (BJP) emerges with a sharpened edge, honed by the whetstone of past victories and the sheen of a well-oiled campaign machine.

With 88 seats in the fray, the second phase is not just another chapter; it’s a pivotal juncture where the triad of Kerala, Karnataka, and Rajasthan hold the keys to the kingdom. More than half of the seats lie in these battleground states, each with its own tale of political intrigue and historical allegiances.

Post the initial skirmish, the BJP, under the stewardship of Prime Minister Narendra Modi and Home Minister Amit Shah, has launched an aggressive crusade. Their clarion call resonates across the heartlands, seeking to dispel any shadows of doubt cast by the first phase. For them, this is the moment to fortify their bastions, to turn the tide in their favour, and to etch their narrative into the annals of time.

Conversely, the Congress party and its allies stand at a crossroads, where every move is critical, every decision momentous. This phase is their battleground, their chance to rewrite the script, to rally their forces against the winds of change. It is, in every sense, a fight for survival, a do-or-die duel in the arena of India’s vibrant democracy.

As the nation watches, the second phase of the Lok Sabha elections will not just decide the fate of the candidates, but also the direction of the world’s largest democracy. It’s a story of political prowess, of the will to overcome, and of the indomitable spirit of India.

Voter Turnout 

In the intricate dance of democracy, the voter turnout is the rhythm that can sway the fortunes of political contenders. The 65.5% (till 3 PM) turnout in the second phase of the 2024 Lok Sabha elections is a drumbeat to which the BJP and Congress, along with the opposition, must choreograph their next moves.

For the BJP, this figure is a double-edged sword. On one hand, it suggests a significant engagement, which could be the result of their vigorous campaigning and the resonance of their nationalistic narrative. On the other hand, it falls short of the previous election’s turnout, hinting at a possible complacency among its base or an undercurrent of dissatisfaction that could erode the margins of victory in closely contested seats.

The Congress and the opposition interpret this turnout as a clarion call. It’s a signal that the electorate is still listening, still weighing its options. For them, every percentage point below the last election’s turnout is a crack in the BJP’s armour, an opportunity to galvanise their base and appeal to the undecided voter. It’s a chance to present themselves as the alternative, to capitalise on any latent discontent.

 BJP’s Advantage

In the simmering cauldron of Indian politics, the second phase of the 2024 Lok Sabha elections brews a potent concoction of rhetoric and ambition. The BJP  strides into this round with the confidence of a lion that has previously claimed 63 of these 88 contested territories.

The air is thick with the scent of battle, as Modi’s oratory crescendos into a fervent pitch against the opposition, with the Congress party bearing the brunt of his verbal arsenal. The narrative spun is one of a cultural crusade, a clarion call to the Hindu majority that resonates through the heartlands of Rajasthan, Madhya Pradesh, Uttar Pradesh, Assam, Maharashtra, and Karnataka— the states that are the BJP’s traditional strongholds.

This electoral stage is set against a backdrop of scorching heatwaves and a complex tapestry of voter sentiments. The turnout, once a robust 70%, now teeters on the edge of uncertainty. Yet, the BJP remains undaunted, for the arithmetic of votes is a game they have mastered. The lower turnout, while a spectacle for analysts, is unlikely to dim the saffron glow of victory in these regions.

As the nation watches, the second phase is more than a mere contest; it’s a litmus test for the BJP’s unyielding quest for consolidation and the opposition’s desperate fight for relevance. The outcome of this phase is a harbinger of the political monsoon that awaits India.

BJP’s Kerala Challenge

In the kaleidoscope of Indian politics, Kerala stands as a vibrant piece, distinct yet integral to the national mosaic. For the Bharatiya Janata Party (BJP), making inroads into this southern state is not just a strategic move, but a necessity to bolster its pan-Indian image and electoral arithmetic in the 2024 general elections.

Kerala’s political landscape, traditionally a bastion of the Left and the Congress-led UDF, presents a unique challenge and an opportunity for the BJP. A breakthrough here would signify the party’s acceptance beyond its traditional strongholds, showcasing its ability to resonate with a diverse electorate. It’s a chance to shatter the perception of regional limitations and to lay the groundwork for a more uniform national presence.

Moreover, Kerala’s 20 Lok Sabha seats are crucial for the BJP to increase its strike rate and secure a decisive victory. Success in Kerala would not only add to the party’s tally but also serve as a testament to the efficacy of its governance and policies. It’s about sending a message of unity and strength, demonstrating that the party’s vision aligns with the aspirations of people across the country.

For the BJP, Kerala represents the final frontier in its quest for a truly national mandate. The second phase of the 2024 general elections is the party’s moment to make a statement, to weave the saffron thread into the fabric of Kerala, and in doing so, strengthen the tapestry of its national dominance.

Where Does Opposition Stand In Second Phase

In the grand narrative of India’s electoral saga, the second phase of the 2024 general elections is a crescendo of political fortunes where the opposition faces a moment of reckoning. The southern states of Kerala and Karnataka emerge as the arenas of this high-stakes drama. Kerala, with its Left and Congress tapestry, and Karnataka, where the Congress recently savoured victory, stand as bastions of resistance against the BJP’s march. Yet, the BJP’s roots run deep in Karnataka, unlike in Kerala, where it seeks to plant its saffron flag.

The political theatre extends to the heartlands of Rajasthan and Madhya Pradesh, where the BJP’s dominance is countered by the Congress’s historical significance. Here, the winds of discontent among the Jats and Rajputs could sway the balance, turning a potential Congress resurgence into a storm that could shake the BJP’s foundations.

Karnataka’s political chessboard is set for a complex play of alliances, with the BJP and Janata Dal Secular’s pact hanging in the balance. A misstep in vote transfers could tilt the scales in Congress’s favour. Meanwhile, Maharashtra witnesses an epic fraternal feud within the Shiv Sena, where the legacy of the Thackeray name and the battle for the true Sena’s soul could divide loyalties and benefit the opposition.

Bihar presents a conundrum, with the electorate’s allegiance to Janata Dal United and Nitish Kumar’s political acrobatics under scrutiny. Their verdict could either bolster the BJP or invigorate the opposition. Assam seems a less hopeful ground for the opposition, while Bengal’s electoral contest is a delicate dance, with the BJP striving to retain its past glory against a resurgent TMC. Uttar Pradesh, with its razor-thin margins in seats like Meerut and Baghpat, becomes a crucible for the BJP’s efforts and the opposition’s opportunity to edge ahead.

As the nation’s political kaleidoscope turns, these regional dynamics will paint the canvas of India’s democratic spectacle, each stroke contributing to the larger picture of who will govern the world’s largest democracy.

 

—The author, Sayantan Ghosh (@sayantan_gh),  is a political observer and a research scholar, who teaches journalism at St. Xavier’s College (autonomous), Kolkata. The views expressed are personal.

Read his previous articles here

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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2024 Lok Sabha Elections | Why Kerala is in focus as the second phase begins to vote

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Among the southern states, Kerala remains one of the most interesting electoral battle grounds. Of the 88 Lok Sabha seats that vote on Friday, all the 20 constituencies in Kerala will vote for its national representatives. The Congress-led United Democratic Front enters the fray with advantage as against the CPI-(M) led Left Democratic Front. In this, the Bharatiya Janata Party is attempting to fish in troubled waters. How can this play out? — Political observer and our columnist K V Prasad finds out.

As the country began to vote for the second of the seven-phased Lok Sabha elections this morning, attention is now on to another state of south India — Kerala. After Tamil Nadu voted during the first phase, focus turned to Kerala or as one of the smartest taglines describes — the God’s Own Country .

Among the five states in Southern India, Kerala with 20 seats figures fourth in the list in terms of the number of representatives it sends to the Lok Sabha. It follows Tamil Nadu (39), Karnataka (28), Andhra Pradesh (25), and is succeeded by Telangana (17) and one seat of Union Territory of Puducherry whose conclaves share borders with three states.

Of the 16 crore voters, who in 88 Lok Sabha constituencies on Friday are going to elect the next government, Kerala will be on the radar of the governing Bharatiya Janata Party government for more reasons than one.

The  reason is clear. Kerala is the second state after Tamil Nadu the BJP focussed its energies in order to maximise its tally of seats from the South. The calculations are simple. The party is more secure in Karnataka, a state which elects half of its representatives on Friday.

The BJP is  acutely aware that having garnered the maximum in the Hindi-speaking and traditional seats in other parts of the country in 2019 polls, the party needs to break beyond Karnataka and increase the area of ‘Lotus’ bloom to achieve its grand plan of ‘Abki Baar 400-Paar’.

There was much hype in Tamil Nadu for the BJP after its under-40 years of age state party president, K. Annamalai created a splash. Whether it was on the electoral pan or otherwise can best be judged only after June 4.

Nonetheless, the BJP has made a determined push in Kerala, which can claim  to be Numero Uno in terms of literacy, and retains a different electoral matrix. The BJP is playing upon the dichotomy of the Congress-Left relations. These two parties, as is known, are allies in the I.N.D.I. Alliance elsewhere and daggers drawn in Kerala. 

Will this work? Difficult. Can the BJP raise its vote share? Uncertain. Union Minister Rajiv Chandrasekhar taking on Sashi Tharoor or Anil Antony, son of Congress stalwart A.K. Antony is making a determined bid.  Leave it to the wisdom of the people to exercise a preference on these high-profile seats or elsewhere to the electorate.

Yet, as the electoral race began in Kerala, the battle of the ballot in the state was essentially between the Congress-led United Democratic Front and the Communist Party of India-led Left Democratic Front.

 It is here that the landscape changes. The LDF-Government in Kerala is led by Chief Minister Pinarayi Vijayan. The perception is that the state government is unable to handle its finance, even as the state administration claims it is severely handicapped accusing the Centre of denying it of its rightful share of funds.

The Chief Minister held a public protest at Jantar Mantar in Delhi during the Budget session of Parliament accusing the Modi Government, yet the plea of his government in the Supreme Court was more on limits on borrowings. The people in the state appear more concerned about Dearness Allowance and Old Age Pension accruals, which were in the arrears. Pinching in the pocket does hurt.

As per reports emerging from the ground, the Congress-led UDF is moving ahead in the race and Rahul Gandhi, MP from Wayanad is seeking to defend the seat. The CPI (M) and its allies are contesting on a difficult turf owing to what observers characterise as ‘anti-incumbency’.

The CPI (M) knows it needs to win a certain number of representatives to retain its national party status. The party cannot expect any concessions of the qualification norm altered by the polls body a little over three decades ago.

The irony is that one of the constituents of LDF, the Revolutionary Socialist Party, has moved out from the camp and is firmly with the Congress-UDF for over a decade. Of the 20 seats at stake, the Congress is contesting 16, the Muslim League 2, and one each by the Kerala Congress (Joseph) and RSP, where sitting MP and former LDF Minister N.K Premachandran is back in the fray.

The campaigning has been intense and no holds barred. Congress leader and its former President Rahul Gandhi criticised the BJP for not taking any action against the Chief Minister even as the CPI (M) suggested he withdraw it. In a state where people remain cued in with political realities,  realpolitik should have its way. 

 

The author, K V Prasad, is an author and political analyst. The views expressed are personal.    
Read his previous articles here

 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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World IP Day | Why a robust IP ecosystem vital for progress of a nation

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

IP creation will naturally foster innovation, develop new technologies and build better concepts. These will collectively help in addressing global challenges like climate change and tackling health issues, writes Vanita Srivastava.

Intellectual property rights (IPR) is an important driver for innovation and growth. From global health to addressing the issues of climate change, intellectual property is an important element in policy making. Therefore, maintaining a robust intellectual property ecosystem that fuses innovation and creativity is imperative for a better and sustainable world. However, it is always a challenge for countries, especially the countries with poor resources and a low income population.    

World Intellectual Property Day, observed on April 26 every year as a reminder of the effects that intellectual property has on the social and economic progress,  has this time chosen the theme — IP and the SDGs: Building our common future with innovation and creativity. 

The United Nation’s Sustainable Development Goals (SDGs) still have a lot to attain and are lagging behind in targets. The countries must collaborate to make the goals attainable and for this there is a need to harness the innovation and creative potential while making intellectual property an important area of all developments.

IP creation will naturally foster innovation, develop new technologies and build better concepts. These will collectively help in addressing global challenges like climate change and tackling health issues.  Innovators across the world are using IPR to translate their innovations into assets that can have a positive social and  economic benefit for the people.

Intellectual property refers to any kind of creation and creativity like an invention, artistic and literary work, names, images and designs. And, the intellectual property rights are being protected in the form of patents, trademarks, copy rights and geographical indications.    

IP and SDG

According to a recent report of the World Intellectual Property Organisation (WIPO), the intersection of IP and the SDGs offers a unique lens and help track innovation aligned with the SDGs across diverse technology landscapes. It provides a quantifiable measure of the intellectual capital being invested in each goal, offering a tangible representation of the commitment to sustainable development within the global innovation landscape.

The report tracks how patents contribute to progressing towards and achieving the SDGs revealing the latest patent trends. It shows the pivotal role of IP in steering development towards sustainability and can be used to empower the decision makers, policy makers and innovators to foster collaborations. WIPO’s Global Challenges program seeks to raise awareness and understanding of the complex linkages between global health and access to medical technologies, innovation, technology transfer and trade. The goal is to leverage intellectual property (IP) as a tool that contributes to meeting the world’s most pressing health needs.

Patent data offers a powerful lens into the state of technological development because groundbreaking innovations are typically disclosed through the patenting process.  Sagacious IP, an organisation that helps to provide IP solutions to global companies and expand their IP portfolios, has highlighted the need to analyse patent portfolios for identifying how they can serve as a leading indicator of a company’s commitment to sustainable practices. 

In 2020, Sagacious IP embarked on an extensive green patent landscape study to identify the leading innovators driving the transition to a greener future through their patenting activities. The resulting GREEN100® report, first published in 2021 and updated in 2023, spotlights companies generating high-quality “green” patents focused on mitigating climate change. An analysis of the green patent portfolios reveal that organisations from five key industries are having an outsized impact —transportation, motor vehicles & parts, energy and power, information and communication technology, industrial machinery and renewables.

India needs a better IP ecosystem 

Intellectual property (IP) filings in India have surged significantly in recent years. In a statistics released by WIPO in 2022, India ranked fifth in terms of the number of trademark applications filed annually and sixth in the world for patent filings.

According to the 12th edition of the International IP Index released by the US Chamber of Commerce in February,  2024,  India ranked at 42 out of the 55 countries in the index with an overall score of 38.64%. The United States emerged at the top of the list followed by the United Kingdom and France respectively.

The report highlighted concerns over India’s IP regime, pointing out the dissolution of the Intellectual Property Appellate Board in 2021, and a judiciary that lacks adequate resources. While acknowledging certain IP strengths such as the Cinematograph (Amendment) Bill 2023, the report urged leading economies like the USA and EU to reaffirm their IP policy leadership.

The report also affirmed that multilateral organisations can reaffirm global IP commitment instead of tolerating counterproductive measures like IP waivers.

 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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These are the five ways AIOps could transform retail networking

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Intelligent AI-powered solutions are already helping IT pros solve today’s biggest retail networking challenges many ways. And, given the sheer volume of cloud-based services, digital users, and IoT devices across the various locations the retail network supports today, it enables them to handle these tasks much more rapidly than humanly achievable, writes HPE Aruba Networking’s Prakash Krishnamoorthy.

Today, as artificial intelligence (AI) innovations take centre stage, there are parallel discussions on how AI for IT Operations (AIOps) is poised to transform various aspects of our technological landscape. As per a recent report of NASSCOM, in India, over 50% of businesses have initiated the integration of AI into their workflow, with either full implementation or the initial stages underway. Consequently, AIOps will play a crucial role in the ongoing digital transformation of enterprises. The next thing that should be on the business radar is AI Networking, which will be relevant for wireless, wired, and wide area networks (WAN). 

In the retail industry, the current AI investments stand at US$5 billion and are projected to surge to US$31 billion by 2028, as per EY’s report. Before exploring the new facet of AI innovation, let’s take a step back. It is imperative to understand the key characteristics of an effective AI solution and provide clarity around how AI, machine learning (ML), and automation can help retail organisations.

What AIOps can do for the IT team  

AIOps, a term coined by Gartner, is a solution that uses big data and ML to automate IT operations processes such as anomaly detection and causality determination. It’s like DevOps in that it consolidates service and performance management, teaming this with automation to deliver continuous insights that enable improvement.

So, where do networking, storage, and support services fit into the equation? Gartner clarified these roles in a new term — AI Networking. A subset of AIOps, AI Networking is considered a more efficient way to manage Day 2 network operations — the phase after design and implementation, when the team is analysing and optimising the modern networking system. 

On the other hand, AI Networking sits within the broader infrastructure but is specific to work around wired, wireless, and WAN networks. AIOps and, more specifically, AI Networking provide intelligent automation, for faster response to connectivity issues, or even prevent network outages. Given the sheer volume of cloud-based services, digital users, and IoT devices across the various locations the retail network supports, it enables them to handle these tasks much more rapidly than humanly achievable.

Use cases for AI Networking 

Intelligent AI-powered solutions are already helping IT pros solve today’s biggest retail networking challenges in the following ways: 

  • Remote management of multiple stores: Today, it’s standard to see centralised IT teams managing dispersed locations. With this in mind, AI Networking features provide near-real-time visibility into network activity wherever it is taking place. This includes determining which devices are being connected to networks, identifying sites that are struggling with LAN or WAN issues, and collecting essential data logs automatically.
  • Accurate identification of issues: In the same way that ML models are designed to point out patterns of behaviour and deviations from them, AI Networking insights and alerts help uncover wireless, wired, and WAN gateway issues that traditional tools miss. For instance, AI Networking can help you see the difference between a device that’s misbehaving due to a hardware failure or something intermittent that a firmware upgrade can fix.
  • Improvement of user journeys: Modern customers not only expect products that meet their needs; they also demand high-quality in-store experiences. Subsequently, IT departments need to find ways to deliver exceptional guest and employee access, in an environment where technical expertise is often sparse and on-site troubleshooting can be difficult. The most advanced AI Networking features address this challenge by recommending how one can boost network performance, without costly upgrades, while delivering on operational expectations and customer experiences at the same time.

Why to choose AI-powered solutions?

Although every AIOps solution enables you to automate efficiencies to an extent, some solutions offer significantly more capabilities than others. The most innovative options cover Day 0 and Day 1 tasks as well as Day 2 responsibilities. One should keep these attributes in mind while finding a solution that will comprehensively address their retail networking needs:

  1. 1. Intuitiveness and effectiveness: Aside from including a streamlined dashboard, other characteristics of an innovative AIOps solution include built-in natural language search to help with basic Day 0 activities such as configuring a service set identifier (SSID) or setting up a guest network. For advanced needs, the best solutions allow you to tap into capabilities like automatically baselining the performance and behaviour of each of their locations without any manual configuration of service level expectations. 
  1. 2. Ability to detect behavioural anomalies: Behavioural change is a clear sign of an impending device failure or security breach. Therefore, one should seek an AI Networking solution where the AI and ML are trained with data from thousands of deployments and millions of devices and endpoints, along with clustering technology to differentiate each location by size, number of network devices used, and how many clients connect daily. In bringing together external data with the internal information your locations generate, an advanced AI Network tool offers accurate insights for sorting out behavioural anomalies.
  1. 3. Actionable-insights generation: AI Networking should go beyond basic number crunching and churning out lists of issues to resolve or opportunities to optimise. The most advanced AIOps solutions present their findings as actionable recommendations. Such suggestions could range from changing the settings for a location’s Wi-Fi access points (APs) to reduce power consumption to replacing a cable between a specific AP and switch to eliminate the source of intermittent wireless issues. 
  1. 4. Full-stack Zero Trust approach: The best solutions use AIOps and AI Networking methods across their entire network to maximise efficiency, and this includes enhancing security. AI-powered Zero Trust features offer accurate client information and visibility into which applications are being accessed by IoT and guest devices, and whether devices are displaying behavioural changes. For example, if a stationary point-of-sale (POS) device appears to be displaying roaming behaviour — or starts communicating with unknown resources — a best-in-class AI Networking solution will be able to flag this as a behavioural anomaly so that one can rapidly pinpoint the source of an issue.
  1. 5. AI built into the network architecture: Alongside a full-stack approach, the savviest AI solutions come from networking vendors that integrate AI Networking into their overall architecture — from network devices to management platforms. In this way, the vendor is reducing acquisition and maintenance costs, minimising manual configuration tasks, and decreasing the time it takes to develop competency across your organisation. As a rule of thumb, tightly integrated solutions are more likely to give you higher-value insights at no extra cost.

When any retail organisation is deciding on a suitable networking solution, it should explore how AI plays a role in it. Today, always-on networks are a competitive advantage in the retail landscape, so they must consider how AIOps can provide them with actionable insights, help automate tasks to free up IT resources for higher-value projects, and provide the ability to improve business and competitive outcomes overall.

 

The author, Prakash Krishnamoorthy, is Director – India at HPE Aruba Networking, the security and networking subsidiary of Hewlett Packard Enterprise company. The views expressed are personal

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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View | A small inheritance tax is not a bad idea

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Even though Pitroda’s statement has stirred the hornet’s nest in the current situation, inheritance tax as such has a sound rationale both for the exchequer and equity, and it is not as if the concept is alien or unknown to India, writes Chartered Accountant S Murlidharan. 

Escalating an ongoing war of words between the Congress and Bharatiya Janata Party in India over the Congress election manifesto that talks about redistribution of wealth, Sam Pitroda, head of the Overseas Congress Party, on Wednesday said that the inheritance tax that exists in the US is fair.    

Explaining the inheritance tax in the US, Pitroda said in an interview; “If one has $100 million worth of wealth and when he dies, he can only transfer probably 45% to his children, 55% is grabbed by the government, that’s an interesting law.” 

“…it says you, in your generation made wealth, and you are leaving now, you must leave your wealth for public, not all of it, half of it, which to me sounds fair.” Pitroda said in the interview. 

However,  the above statement of Pitroda has stirred the hornet’s nest, and given additional ammunition to the BJP to go to town with the charge of Congress if voted to power would confiscate properties considered to be excessive in the hands of individuals and distribute them among the minorities.  

But let us leave the polemics aside and examine the case for inheritance tax or its variant estate duty dispassionately. It is not as if the concept is alien or unknown to India. It was in vogue till 1985 when it was put in a suspended animation by the then Rajiv Gandhi government. 

Today, in the arsenal of direct taxes, the Indian government has only one weapon — income tax. Gift tax was tried as both donor and donee based only to be set aside completely. Wealth tax was abolished in 2015 by Arun Jaitley, the then Finance Minister on the facile ground that the revenue therefrom of the order of around 2800 crore or so was more than eaten away by the administrative and recovery expenses. He forgot that while revenue considerations are important, direct taxes seek to correct horizontal inequity in income and wealth distribution.  

Tax rates should not be confiscatory. At the height of Indira Gandhi’s socialistic zeal, the maximum marginal rate of income tax was 98%. People said they would rather not earn given the grim prospect of losing 98% of it to the exchequer.  Not for them was the wooly notion that such heavy-handed taxation was meant to bankroll welfare schemes. At the same time, a bouquet of direct taxes is required to target the rich and help the poor.  So much so, even an avowedly capitalistic country like the USA has at least six states imposing heavy inheritance tax which is a perfect fit with the American belief system that one should earn his keep and not be an inheritor. Be that as it may.

The Netherlands, another avowedly capitalistic country, imposes a fairly heavy estate duty. We need a slew of direct taxes whereas we have only income tax to show. A reasonable estate duty on estates worth more than say 20 crore would not hurt and the annual wealth tax of say 2% on net wealth in excess of say 5 crore would not hurt either. Ditto for gift tax on donors. As it is, the optics are not good.  Income tax evasion is quite widespread. GST on the other hand is begetting much greater compliance thanks to its indirect tax status which hurts the poor more being a regressive tax. Coupled with it, fuel taxation (50% of the petrol bunk price) sends out the wrong message that the government is turning Robinhood taxation — tax the rich to serve the poor—on its head.  

Wealth tax under the 1992 law was crafted on the lines suggested by the Raja Chelliah Committee which targeted just six assets whereas it ought to target all assets secularly.  It left out bank balances and shares while targeting even a small car. Small wonder, the collection was abysmally low.  Tilt towards direct taxes is a marker of development. 

Sam Pitroda might have spoken at the wrong time but in a country characterised by Pareto’s law — 80% of the population gets to own only 20% of the national wealth and vice versa — with a greater skew, there is a case for the exchequer using all the four types of direct taxes to garner more revenue for the government while at the same time correcting the skew in income and wealth distribution. One of the canons of taxation is tax according to ability to pay. This touchstone too has been turned on its head with poor willy-nilly bearing the brunt with a backbreaking GST and fuel tax.

The BJP itself wasn’t averse to the idea of inheritance tax staging a comeback with its Minister of State for Finance, Jayant Sinha waxing eloquent about its potential.  Inheritance tax or estate duty is not the same as confiscation or denuding one of his property rights.

 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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How’s innovation helping Indian single malts break barriers

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

In the whisky market, non-age statements are now gaining more acceptance, especially for aficionados who understand the world of single malts — knowing that it is not just numbers that deliver a rich sensorial experience, but rather the complex and holistic nature of whisky making that does, writes Diageo India’s Chief Innovation Officer Vikram Damodaran. 

The Indian single malt landscape is on an upward trend — poised alongside global counterparts. As the global whisky landscape evolves, India’s single malts are transcending conventional boundaries and setting new standards of excellence — take, for instance, the intricacies of liquid profiles striking a delicately harmonious balance between tradition and innovation. Essentially, the signifying factors of the Indian liquid profile comes down to the technicalities of the distiller, the impact of Indian terroir, and of course, the no-age claims. 

The Power of the Distiller

Single malts stand out for their distinct characteristics, deeply rooted in the unique configurations of the distillery’s pot stills, encompassing factors such as shape, form, and the angle of the gooseneck. The expertise of the distiller comes into play here, guiding the extraction of the finest qualities from each pot. In the context of India, marked by diverse geography, ingredients, and terroir, this knowledge becomes especially crucial in order to deliver a distillate which is at its optimum best. 

Take for example, Nashik, home to one of India’s largest distilleries — it underscores the significance of this expertise — a distillery that operates on an industrial scale where mastering the intricacies of pot still operation is paramount. This industrial scale poses distinct challenges, where parameters and controls are not solely in the distiller’s hands, and requires innovation to harmonise multiple variables—ingredients, terroir, environmental conditions, and pot still variations. Thus, the essence of a distillery is intricately linked to the skill of its distillers, shaping the quality and character of India’s single malts.

The Terroir Factor

The impact of terroir on spirits, particularly single malt whiskies, is akin to its influence on wine. Terroir refers to the environmental factors such as climate, soil composition, and geographic location that contribute to the unique characteristics of agricultural products. In the case of spirits, terroir manifests in various ways, especially when considering maturation processes, where the choice of casks plays a crucial role.

Take, for instance, the emergence of terroir-driven single malts, which are increasingly being compared to wines in terms of their regional distinctiveness. Consider the example of Rajasthan, a region not initially associated with whiskey production. However, its extreme temperatures and climatic conditions have unexpectedly proven ideal for crafting unique spirits. Similarly, Nashik which has established itself as India’s wine capital despite differing from traditional wine regions like Spain, the Napa Valley or France, offers its own unique character.

When you bring the influence of terroir on wine and whisky together, the harmonious marriage becomes particularly evident when distilleries utilise wine casks for ageing, as the remnants of the wine’s character within the wood impart nuanced flavours to the spirit.

This showcases, but one example, of the diversity of India’s offerings and underscores the importance of recognising regional characteristics in spirit production.

Despite disparities in climates and altitudes between wine and whisky regions, each factor contributes to the maturation process. A distillery’s distinctive character, combined with environmental influences, culminates in a liquid that reflects the signature style of its origin. This diversity distinguishes India as a hub for innovation in spirit production, with different regions contributing their unique flavours and profiles to the global market.

No Age Statements 

The status of age statements in the world of Indian single malts is undergoing a significant shift, challenging the traditional notion that age equates to premium quality. The fundamental weight behind context comes down to the fact that people have always found an intrinsic ladder in premium offerings through a number, and for Single Malts, that number happens to be the age for which the spirit has matured.  As the spirit spends time in the wooden cradle, at lower temperatures, the wooden barrel transfers beautiful character to the spirit. And therefore, the number of years then becomes a marker of high value and expensive taste.

Unlike Scotch or Japanese whiskies, where age serves as a hallmark of distinction and value, India’s diverse environmental conditions allow for the maturation of exceptional spirits in much shorter timeframes. The sheer difference in temperature, relative humidity and environmental conditions allow for a much more differentiated, pronounced and accelerated kinetics of all the chemical reactions between the spirit and the wood. The right amount of ageing time is determined again by the master distiller and the blender who craft the perfect unison between time and the elements in order to deliver a liquid that belies the conditions and surprises the strongest of critics.

Moreover, ageing for long periods in India can lead to higher amounts of angel’s share, which unfortunately, is a high price to pay for the beautiful sensorial experiences the spirit offers. In order to move away from the age-centric approach, there needs to be an understanding that achieving optimal sensory performance does not necessarily mean prolonged maturation. India’s environmental conditions can allow for the crafting of a spirit with an outstanding sensory performance in a third of the time as compared to the conditions of Scotland or Japan. 

Therefore, many Indian single malts steer clear of age claims. While some exceptions exist, most Indian distilleries prioritise the essence of their spirits over numerical labels, even believing that putting a number can belittle what the spirit stands for. We’re also witnessing this trend on a global level. There are hardly any bourbons from the United States that parade age labels. Similarly, there is an increasing number of Scotch whisky producers releasing expressions without age indications to stay in sync with consumer preferences. 

Non-age statements are now gaining more acceptance, especially for aficionados who understand the world of single malts — knowing that it is not just numbers that deliver a rich sensorial experience, but rather the complex and holistic nature of whisky making that does. 

The dynamic landscape of Indian single malt whisky is a testament to the collaborative efforts of various entities within the industry. From longstanding smaller companies, innovative startups, niche high-end artisanal offerings, and behemoth brands, each contributes uniquely to the rich tapestry of Indian single malts.

It’s clear that building a robust and consistent platform for high-quality Indian single malts requires collective expertise and dedication of diverse players in the field. This collaborative spirit not only elevates the quality and diversity of Indian single malts but also accelerates India’s position on the global single malt stage. As these groups continue to work together, we can expect to witness further innovation and excellence, solidifying India’s reputation as a single malt powerhouse.

 

—The author, Vikram Damodaran, is Chief Innovation Officer at Diageo India. The views expressed are personal. 

 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Here’s an opportunity for India as Western financial services firms look eastward for talent

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Several Western economies, including places in North America and Western Europe, are dealing with an ageing population, low birth rates, and a declining working-age population. Besides, graduates in many Western countries no longer view financial services as a lucrative job or career for life. In this context, India could be a preferred destination for talent, especially for financial services sector, writes Acuity Knowledge Partners’ Damian Burleigh.

As technology gains centre stage, outsourcing continues to prevail as a viable cost-saving and strategic option for financial services businesses. Led by banking, asset management, and more recently, private equity and private credit, firms have pushed the pedal on their outsourcing programmes, which promise to grow in complexity and intensity.

In an increasingly data-driven world, it’s not surprising that extending existing teams through resource augmentation has gained major traction. This approach found popularity during the pandemic as businesses began to appreciate the value of teams working remotely, and potentially, from anywhere in the world. Companies offering strategic resource augmentation services thrived during the pandemic, serving as a pillar for the financial services market for this very reason. 

Strategic resource augmentation is the way forward 

The tremendous growth of knowledge process outsourcing (KPO) can be attributed in part to the talent gaps along with hiring difficulties. Particularly, at the onset of the pandemic, HR functions that were slow to respond missed capitalising on remote hiring opportunities. 

More importantly, several Western economies, including places in North America and Western Europe, are dealing with an ageing population, low birth rates, and a declining working-age population. These are worrying signs of more challenges that could be expected in future decades.

In contrast, India, with its demographic dividend and immense talent bank, has a terrific opportunity to cement its position both as a preferred talent hub and a global economic powerhouse.

India could be a preferred destination for talent

Graduates in many Western countries no longer view financial services as a lucrative job or career for life. The prospect of being an investing banker or asset manager has been dimmed by the excitement of a career with a start-up or the likes of Google. 

While India could be experiencing a similar trend, its massive education system focused on academic success and expanding its graduate pool ensures that the shift in preferences is not as dramatic. Across the country, more than 10 million students completed an undergraduate/graduate/post-grad/doctorate/ diploma programme in 2021-22. Investment banking and financial practices are still considered solid career paths.

Challenges of retention favouring India’s prospects

In recent years, the nature of work in the KPO industry has changed drastically with explosive growth in the private equity and credit markets. Employers recognise that all staff members of the workforce, irrespective of their geographic location, must work similar hours and not be expected to stretch beyond their stipulated time. A follow-the-sun model with global operations and a distributed workforce across time zones while strategically opting to augment resources, will help offer seamless services with workflow delivery at different times throughout the day. 

Making financial services an alluring place to be 

To survive and thrive in this new reality, organisations must continue their people focus by offering adequate opportunities to acquire new skills across different aspects of financial services. Also, an active and wide-ranging tech enablement programme will be crucial to drive efficiencies for both financial analysts and clients. It’s also an opportunity to look at different kinds of digital dashboards, alerts and other managed solutions that can be developed as a market offering. 

Artificial intelligence (AI) and Large Language Models (LLMs) are advancing rapidly. These technologies give another opportunity for the data analysts and consultants to tune into client needs better and offer deeper customisation. Providing better prompt engineering to LLM models will help them improve their responses and in turn, the client’s data science and data insights programmes. It will also help them develop solutions that make better use of AI to extract insights from unstructured data.

Sustaining India’s talent advantage

Although financial markets are extremely dynamic, certain functions within financial services have not changed much in the last twenty years. With the ongoing technological transformation, evolution and revolution are happening simultaneously. 

The analytical insights enabled by technology and the power of AI will offer a mix of new opportunities as well as challenges by creating more noise, more potential for bias in the results, as well as more checks and balances and compliance measures. Over the next five years or so, staff must become more tech-savvy. Hiring strategies over the next five years will also have to be recalibrated. Recruiters must evaluate the benefits of a new generation of employees attuned to using the latest technologies. 

For India, the path ahead is about sustaining its advantages. Given the volatility of the markets globally, India must continue to build on its wealth of talent. Without undermining the talent in other outsourcing destinations or Western economies, India must amplify its efforts to enhance and grow its education system. 

At the same time, it must work to retain its strengths — the stability of its democracy and reputation as a safe, well-educated nation with a relatively younger talent market and healthy birth rate to deliver its potential as an economic powerhouse.

 

The author, Damian Burleigh, is Chief Revenue Officer at Acuity Knowledge Partners, a leading provider of high-value research, analytics and business intelligence to the financial services sector. The views expressed are personal.

 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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2024 Lok Sabha Elections | PM’s Rajasthan speech — has it anything to do with the post-poll mood of the first phase

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Prime Minister Narendra Modi raised the political temperature during his campaign speech at Rajasthan on Sunday. The direct reference to how the Congress and its Left-leaning ideology plans to gather information about wealth held by people and redistribute it among Muslims triggered a war of words and petitions to the Election Commission. What could be the BJP’s prompt? Political observer and columnist K V Prasad analyses the likely implications.

Prime Minister Narendra Modi’s launching of a severe attack on the Congress and interpreting contents in its election manifesto triggered sharp reactions and counterarguments from national political parties.

That PM Modi chose to single out the Congress’ promise to redistribute wealth would translate into family treasure being taken away from the majority community and handed over to the minorities or rather Muslims stirred the proverbial hornet’s nest.

The moot question is that what prompted the BJP’s principal and lead campaigner for a third straight term as Prime Minister to raise the issue at this juncture?  Does it have anything to do with the end of the first phase of polling in which the combined opposition claimed that electoral wind began blowing in its favour or is the BJP catering to its core constituency of hardcore Hindutva voters?

BJP leaders have been out defending the statement of PM Modi with its spokesperson characterising the interpretation of ‘’calling spade a spade’ while others insist it was a result of Congress leader Rahul Gandhi’s promise of financial and institutional survey, which prompted the PM to join the issue.

It was on April 6 that Rahul Gandhi, while releasing Congress party manifesto in Hyderabad, promised that his party will conduct a caste survey and on the basis of which affirmative action plans would be drawn. He then went on to add that after counting numbers of caste composition in the country,  the party government will conduct a “financial and institutional” survey.

“[Through this] we will find out who in the country has how much wealth, which community has it. After this historic step we will begin revolutionary work. We will give you, what is your right. Be it media, bureaucracy, all institutions in the country, we will create space for you and give you a share”.

The above is a rough translation of what his speech delivered in Hindi which in effect appears referring to the party’s pet theme of caste survey and  equitable distribution of resources on the basis of numbers. 

On the same day, speaking in Rajasthan, PM Modi likened the Congress manifesto to that of a document of the Muslim League. “The manifesto reflects actions similar to those of Muslim League during the struggle for Independence. Congress is imposing Muslim League’s ideology on the nation and its manifesto is nothing short of an agenda to push back the country by a century,” the PM was quoted in news reports as having spoken at Pushkar in Rajasthan.

The Congress is aghast that the PM chose to make such references and compare to what his predecessor Dr.Manmohan Singh stated in 2006. That the PMO had issued clarification on the interpretation back then was lost in the war of words. 

While the Congress party knocked the door of the Election Commission of India pointing out violation of both the Model Code of Conduct and norms of campaigning, the opposition characterised it as “communally divisive”. 

Since the Sunday speech of PM Modi, petitions are being drafted by civil society groups aimed to seek intervention of the poll body as the message delivered during the election campaign came from the Prime Minister of the country, in which Muslims are the largest minorities comprising about 14 odd percent.

On his part, Congress president Mallikarjun Kharge responded by recounting its five guarantees for youth, women,  farmers, workers and caste survey. He sought to know whether these guarantees aimed to improve the lot of the majority of people across communities, reflects Muslim League agenda?

The thrust and accent on playing up the Congress manifesto and interpreting its entries shows that the BJP will keep its principal opponent on the radar. While the PM and the BJP leaders are talking about the development and welfare schemes undertaken during the past decade, it is known that rhetoric during election campaigns creates a momentum of its own.

Applying deductive logic, political observers are of the view that the BJP’s shrill voice against the Congress, attempting to paint it as a party that favours the minorities (read Muslims) at the expense of scheduled castes/tribes and other backward classes and ignores the sentiments of the majority community is to ensure its core supporters are catered to.

Yet, considering the backlash on the Sunday remark,  PM Modi on Monday preferred to temper the issue in another manner reminding the electorate in Aligarh that his government did more for the minorities and cared for the poorer sections of  the community, unlike the Congress or the Samajwadi Party, its principal challenger in Uttar Pradesh. It could be a case of striking a balance after seeking to raise political temperature and engaging the opposition on BJP’s stronger turf of Hindutva. 

 

The author, K V Prasad, is an author and political analyst. The views expressed are personal.    

Read his previous articles here

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
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Win WRX (WazirX token) worth Rs. 1500.
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What coins do you think will be valuable over next 3 years?

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Should Elon Musk be able to buy Twitter?