India: 500,000 job losses in the last quarter

When I first read of the 500,000 number, the question that sprung to me was, who and how did we arrive at this number. When countries like US & Canada announce their numbers, they have data on hand like unemployment claims to back those numbers. What metrics does India have to arrive at that number. And now that we have arrived at a number based on the tools and inputs in place, how accurate could that be? To me, it conceals more than it reveals. Browsing through Business Standard today, I found some validation and more questions.

Citi further said that the Ministry of Labour has indicated that over 5,00,000 jobs were lost during October-December 2008, with export-oriented sectors such as gems and jewellery, autos, and textiles being most impacted.

However, the report stated that this statistic only covers the organised sector, which comprises just 10 per cent of the country's workforce of close to 385 million.

A Passage To Hollywood

The director is American. The stars are from India. And the movie, which is scheduled to open in India and the U.S. this fall, has Hollywood special effects and Bollywood song-and-dance.

The horror film "Hisss," currently wrapping up shooting in Mumbai, is a result of a growing collaboration between Hollywood and the Indian film industry.

Money, stars and scripts are flowing in both directions, giving rise to a new genre of crossover cinema. Among the projects in development: Screenwriter Paul Schrader, famous for such films as "Taxi Driver" and "Raging Bull," is working on a thriller with an Indian producer. Sylvester Stallone will appear in "Kambakkht Ishq," or "Incredible Love," an action-filled comedy shot in Los Angeles and starring Akshay Kumar. Indian film mega star Shahrukh Khan is producing and starring in a superhero film that will be co-written by American and Indian screenwriters and digitally souped up by American special-effects technicians.

Crossover projects have been percolating for several years but are heating up with the success of "Slumdog Millionaire." The rags-to-riches tale shot in the slums of Mumbai has become a surprise Oscar darling with 10 Academy Award nominations, including best picture.

Excerpt from: A Passage To Hollywood - WSJ.com

Of India's contrasts

Was going through this article in TOI and noticed some facts and figures. Here go the excerpts. Original article can be found in the Title link.

AT Kearney has ranked India at the 71st position in its annual ranking of the world's most globalised nations, AT Kearney and Foreign Policy Globalisation Index 2007.

The list of 72 countries is topped by Singapore for the third consecutive year, followed by Hong Kong, the Netherlands, Switzerland and Ireland in the top five. India fell 10 places from its 61st position in 2006.

"India's standing as a premier offshoring destination with a booming economy often masks the fact that 70% of its population lives in rural areas," the report said.

Despite a doubling of Internet users in 2005, only 5% of India's population had access to the Internet and less than half of its population was attached to the power grid, it said.