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VOL. 16 NO. 327 FRIDAY, NOVEMBER 27, 2009 The financial sector
Short on action
as a joint family
T
he Prime Minister, Dr Manmohan
Singh’s, visit to Washington — the
first State visit of Mr Barack Oba-
ma’s Presidency — was, despite
T
he Australian Prime Min- growing export market. In this context, the Indian go-
old wounds and improve ister Mr Kevin Rudd’s re- Until recently, Australia’s exports vernment must have been disap-
This refers to “Mumbai, a our system of governance. cent visit to India was, to India primarily comprised pointed at the absence of concrete
year later…” (Business Line, A. Ramanathan unfortunately, truncated mining and agricultural products. efforts by the Australian Govern-
November 24) and your Chennai to less than 24 hours by the threat of Now its service exports alone ment to identify and close down un-
other news items on the a coastal storm in Mumbai. In fact, (mainly Indian students there) ex- ethical and sub-standard private
26/11 attacks. No doubt, the Say no consolidation unfortunate timing and ill-judged or ceed India’s total exports to that education institutions (four more
TV channels will devote miscalculated responses have char- country. The trade balance will tilt entered receivership last month) in
many hours to the events, This refers to the remarks acterised India-Australia relations. further towards Australia when the that country. Mr Rudd also failed to
with more talk shows. made by Dr K. C. This unfortunate pattern started at $20-billion Gorgon gas supply con- announce any new steps to enhance
Though the media does Chakraborty, Deputy the time of India’s Independence tract becomes operational. the safety of Indian students.
expose inadequacy in our Governor, RBI, on the topic when India wished to remain in the Australia has also pursued a more The Indian Government must in-
systems, why are the hard- of the day, viz., Commonwealth provided it could pragmatic policy in exploiting avail- sist that Indian students receive
hitting questions not being consolidation of public choose its head of state. able trade opportunities. India has education of the same standard
directed at our politicians or sector banks. Though a The UK agreed but the then Aus- largely missed out on Australian op- available to Australian peers. The Prime Minister, Dr Manmohan Singh, with his Australian
government officials? votary of the proposed tralian Prime Minister, Robert portunities for three reasons: First, counterpart, Mr Kevin Rudd, during the lalter’s recent visit to
It is time the power of the mergers in the broader Menzies, opposed it. The Australian until very recently India’s foreign URANIUM SUPPLY India… While Australia sees China as a strategic partner, it
media, used subtly and sense, the former Chairman foreign policy establishment has policy efforts were aimed at Europe While Dr Manmohan Singh ex- perceives India merely as a trading partner.
concertedly, pushed the of a PSB has been sceptical since classed India a difficult coun- and the US. Second, Indian politic- plored the possibility of uranium
Government into setting up of the haste with which the try. This impression was reinforced ians concentrated on shoring up un- supply, there was no positive move- trade that China has left India way Australian mining companies and
a Truth and Reconciliation matter is being dealt with. when India co-founded the non- productive relationships with ment on the issue. Mr Rudd’s re- behind. real estate. Knowing that China has
Body, such as the one that Despite the disastrous aligned movement. largely failed or struggling nations sponse was both misleading and been actively impeding India’s stra-
existed in South Africa, and consequences of neo- Following in Mr Menzies’ foot- in the non-aligned movement. contradictory when he asserted that CHINA — ELEPHANT IN THE ROOM tegic aims (for instance, blocking
is now functioning in liberalism, especially in the steps, the John Howard govern- Third, the intrinsic inability to there was bipartisan consensus in China has been busy grooming Aus- Indian attempt to gain a permanent
Rwanda and Cambodia, to financial sector in the US ment opposed India’s admission to shake off lethargy and a lack of Australia to not sell uranium to In- tralian politicians of differing per- seat on the UN Security Council,
arrive at the truth behind and elsewhere in the West, the Asia-Pacific Economic Cooper- imagination of the Indian foreign dia. After India had negotiated the suasions. The grooming starts well preventing the listing of certain Pa-
events that alter the course it is intriguing that our ation (APEC) Forum. Prior to that, affairs mandarins is also partly to civil nuclear cooperation agreement before they enter parliament, as was kistan-based outfits as terrorist or-
of nations’ histories. policy-makers keep harping when the Vajpayee government blame: while India had a tiny foot- with the US, Mr Rudd’s predeces- recently shown in the case of the ganisations at the UN, and so on),
The people in Mumbai, on fast-tracking reforms. tested nuclear weapons, Mr Ho- print in the 1970s in the Australian sor, Mr Howard, had decided to sell former defence minister Mr Joel India must pay more attention to its
especially the families of The powers-that-be ward’s response was far shriller marketplace, China had none at all. uranium to India. It remains the Fitzgibbons. relationship with Australia if it
those who gave up their would be well advised not to than that of the US or the UK. Yet, Australia’s exports to China policy of coalition parties in Opposi- He had directly or indirectly ac- needs a stable source of raw materi-
lives, deserve to know the gamble on the state’s Even today Australia does not in 2008-09 touched A$32.5 billion tion as well. cepted so many favours from Beij- al for its economic growth.
Truth, along with the people economic future in their consider India a country of strategic (mainly raw materials) and it im- It is worth recalling two facts ing that he could not list all of them The attempted takeover of Aus-
of India. In the same way, pursuit for more foreign regional importance. This is evident ported Chinese goods worth A$35.3 here: it was under Chinese pressure even after being given two opportu- tralian mining assets by China is
the Truth must be widely capital. Better to think of from the fact that Mr Rudd visited billion, comprising mainly of house- effected through the left wing ruling nities to set the record straight. causing unease both within the Aus-
known in relation to all the strategies to strengthen the India after being in power for two hold goods and their parts. Labour party that Mr Rudd revers- Even Mr Rudd’s trips to China, tralian community and its corporate
incidents of communal capabilities of the PSBs, ed the previous government’s pol- when in Opposition, were paid for world. India and its companies are
violence, especially in 1984, instead of attempting to icy; further, his position is by Chinese entities. not viewed with such disquiet. This
the Babri episode in 1992 dispose of them forever. inherently contradictory because Suffice it to say that China is in opens window of opportunity for
and the Gujarat riots of S. V. Venugopalan the Rudd Government had voted for the process of snatching Australia Indian companies.
2002. One hopes this will Chennai the ratification of the US-India civil away from the US or Western orbit.
nuclear cooperation agreement at Having acquired an almost vice-like (The author is Melbourne-based and
Letters to the editor and contributions can be sent the International Atomic Energy grip on Australian consumer spend- specialises in organising joint ventures
by e-mail to: bleditor@thehindu.co.in Agency meeting. It is not only in ing, China is now actively pursuing between companies in Australia and Asia.)
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