Large ECBs for Overseas acquisitions in March 2013

ECBs inflows fell by around 11% during FY2013 at US$ 31.99 bn as compared with US$ 35.96 bn in FY2012

Indian firms have raised US$ 5.08 bn through external commercial borrowings (ECBs) in the month of March 2013 by automatic and approval route. The borrowings stood at US$5.08 bn in March 2013 as compared to US$ 3.83 bn in March 2012. ECBs fell by around (-) 11% as compared with the corresponding period last year, as borrowings declined to US$ 31.99 bn in FY2013 from US$ 35.96 bn in FY2012.

External commercial borrowings (ECBs) since January 2011                                                                                   (US$bn)

 Source: PHD Research Bureau, compiled from RBI

Note: ECB contains both automatic and approval routes

India has received gross ECB worth US$ 209.82 bn between FY2001 and FY2013. The ECBs inflow stands above US$ 25 bn during FY2008, FY2012 and FY2013. The average ECBs inflow stands at US$ 12.06 bn during FY2001-FY2010, while the average ECBs inflow stands at US$ 29.73 bn during FY2011-FY2013 period.

Gross ECB Inflows                                                                                                                                                (US$bn)

Source: PHD Research Bureau, compiled from RBI

Note: ECB contains both automatic and approval routes

A closer look at the ECBs pattern reveals that the lion’s share in ECB during the month of March 2013 is held by the overseas acquisition contributing to about 19% of the total, followed by modernisation at around 17% and rupee expenditure Loc.CG at around 15%.

  Pattern showing ECBs during March 2013                                                                                                     (% share in total)

  Source: PHD Research Bureau, compiled from RBI

 Note: ECB contains automatic& approval route both

Warm regards,

Dr. S P Sharma

Chief Economist

18th EUROPEAN FILM FESTIVAL 2013-Screening of the film MY NAME IS KI

13 May, 5.00 pm, Hungarian Cultural Centre, 1/A Janpath, New Delhi 110001                                                                                                 18^th EUROPEAN FILM FESTIVAL 2013 – Celebrating Women; multiple locations

The Polish Institute, in collaboration with the European Union delegation to India, is pleased to announce the screening of the film My Name is Ki, which was awarded the Jury Prize at KinoPolska in Paris 2011, and was also selected for Venice Days 2011. Roma Gasiorowska, who plays the main protagonist, won the Best Actress Award at the 2011 Gdynia Polish Film Festival.

On the occasion of the 50^th anniversary of EU-India friendship, the European Union is “celebrating women” through cinema that showcases their different shades and nuances. Of the 24 films selected for screening, My Name is Ki is Poland’s entry for the Festival - a movie that does not hesitate to show the dilemmas faced by individuals struggling to make it in a fast-paced city life.

The film documents the experiences of Ki, a young mother keen on escaping the responsibilities of parenthood and intent on living a carefree existence. Her desire for a life outside the confines of the home see her manipulate and exploit others into caring for her young child. Ki offers a commentary on the aspirations and troubles of today’s youth, while maintaining a sympathetic take on its protagonist, in spite of her failings.

My Name is Ki is the debut feature of up-and-coming director Leszek Dawid who has previously been acclaimed for his short films and documentaries.His second feature filmJestesBogiemwas awarded at the Gdynia Polish Film Festival in 2012. Roma Gasiorowska, who plays the chief protagonist in Ki, has also been rewarded for her rich performance; she won the FIPRESCI Award at the 2011 Cottbus Film Festival.

Film: My Name is Ki

Director:Leszek Dawid; Cinematography: Lukasz Gutt; Producers: Malgorzata Jurczak& Krzysztof Gredzinski

Duration:93 min. More on the film: http://www.pisf.pl/en/polish-films/films-from-a-to-z/ki

Note to Editors: The Polish Institute is a part of the Polish diplomatic mission in India with the aim of promoting and fostering an understanding of Poland’s culture throughout the country in a spirit of mutual cooperation. Based in Delhi, the Institute develops events and cultural programming in the genres of the visual arts, film, theatre, music and literature and science in collaboration with established Indian cultural organizations.

Connect with the Polish Institute:                                                                                                             FACEBOOK: www.facebook.com/PolishInstituteNewDelhi                                                                   TWITTER: www.twitter.com/PLCultureDelhiE-mail: delhi@instytutpolski.org                                                                                                                           Telephone: +91 1141496965; +91 01141496962                     

Talking Point for Secretary (T) during inauguration of workshop on Spectrum Management (29.04.2013)

My dear colleague Ms. Sadhana Dikshit Member (Fin), Sri S.C. Mishra Member (Services), Sri Anil Kaushal Member (T), Ms. Sumita Purkayastha, DG. NICF, Senior officers from DoT, Representative of Press and Media and dear friends. 

It is my pleasure to be here in this International Workshop on Spectrum Management organized by National Institute of Communication Finance. I have been told that this is a two day workshop in which Senior Officers from Finance, Accounts and Wireless wing of Deptt. of Telecom, eminent international level speaker, academicians from MDI, Gurgaon and IIT, Mumbai, Senior officers from Competition Commission of India and Telecom Regulatory Authority of India as well as Technical experts of the Spectrum Technology are participating. It is really a rare occasion where all the experts  of the relevant field are gathered hare and ready to share their knowledge and experience in the field of Spectrum Management.

Spectrum Management is the process of regulating the use of Radio Frequencies for its effective and efficient use which ultimately translates into Social benefit. Normally 3KHZ to 300 GHZ Radio Spectrum is used for Wireless Communication. With the increasing demand of Mobile Telephony and new technological innovations such as 3G and 4G Mobile Services and Wireless broadband services importance of radio Spectrum has increased.

Globally Radio Frequency Spectrum is considered as an exclusive property of the state. It is a natural resource like water, land, minerals etc. but biggest advantage of this natural resource is that it is re-usable and not exhausted like other natural resources. The purpose of Spectrum Management is to mitigate radio Spectrum pollution and maximize the benefit of usable radio Spectrum. It is important to mention here that all the available Spectrum is not usable for Wireless Communication.

I would like to mention here that International Telecommunication Union (ITU) has recognized the “sovereign right of each state to regulate its telecommunication”. Here it is worth to mention that effective and meaningful Spectrum Management requires regulation not only at National and Regional level but at Global level as well. It means unless we follow a global standard and practice in Spectrum Management it can not be used optimally.

Spectrum Auction is another area where DoT’s Account’s and Finance wing in association with wireless wing of DoT have done excellent job under the supervision and guidance of Member (Finance) Telecom Commission. I must appreciate the hard work done by the WPF wing in conducting smooth and transparent Spectrum Auction process. Now Spectrum auction has become a regular exercise.

As intimated by the DG, NICF Objective of this workshop is to provide hands on training as well as experience sharing on various critical and complex issues involved in Spectrum Management.  In this workshop not only the basic issues of Spectrum Management would be discussed but the important aspects like Spectrum Auctioning and International Experience on spectrum allocation as well as Assessment of Spectrum Charges would also be discussed.

In  this workshop participants will be given exposure to Spectrum Auctioning process, how evidence received from research helps  Policy makers in Spectrum allocation process, Economic Models for Valuing Spectrum, Spectrum Pricing, Spectrum Planning and optimum utilization of Spectrum, Regulation in Spectrum as well as Monitoring, allocation and use of Spectrum. The eminent and best available speakers on the subject (apart from our departmental officers) like Ms. Chris Perera, Sr. Director, Spectrum Policy & Regulatory Affairs, Asia-Pacific, GSMA, Dr. Rohit Prasad from MDI Gurgaon, Sri Abhay Karandidar, Professor and Head, E.E, IIT Bombay, Ms. Payal Malik, Advisor (Eco), Competition Commission of India and Sri Sudhir Gupta, Pr. Advisor, TRAI will interact with participants during the workshop with their knowledge and experience.

The workshop aim at targeting officers involved in Policy making, execution and Planning of Spectrum Management which is a valuable natural resource available with the Government and needs to be utilized, priced, valued, allotted  and  regulated in an efficient, effective, prudent and transparent manner.  

Dear Friends, Whether we are aware or not but even small children, house wife, scientists, Police, Defence everybody is user of Spectrum. Be it remote toy or remote T.V., Mobile, Wireless broadband, Cordless Phone or DTH T.V. service we are using Spectrum. Some of the spectrum are free to use where as some of them are of commercial use and liable to be charged for which government grants license.

Spectrum allocation and Spectrum Auction process is a matter of study and research. Government has collected sizable Non-Tax revenue through Spectrum uses charges and Spectrum Auction. With the increase of Licensees and with increase in demand for allocation of additional Spectrum by the Telecom operators, Deptt. of Telecom has recently decentralized the work of assessment of Spectrum uses charges. Now this work will be done by the respective Controller of Communication Accounts Offices which is the field unit of Deptt. of Telecom.

At last I must congratulate Director General of National Institute of Communication Finance and her team for organizing this Spectrum Management Workshop with International level speaker. I hope this workshop would enrich knowledge and experience to all the participants as well as speakers too. Spectrum Management being changing and challenging area, I expect from NICF to organize more such events in future also in the form of Seminar, Workshop and refresher training etc.

Thank you.

PANASONIC GLOBAL PRESIDENT REINFORCES IMPORTANCE OF INDIA BUSINESS

India identified as the centerpiece of future for the company: investing Rs. 1,500 crores towards expansion in the next three years

April 30^th 2013, India – Panasonic Corporation President Mr. Kazuhiro Tsuga revealed the strategic outlook for the company in Mumbai which encompassed company restructuring plans and the areas which the group will be focusing on going forward. With these changes, the new management system is expected to speed up decision-making and enable business operations from the viewpoint of customers, with divisions handling everything from product development to manufacturing and sales. In this major initiative to reshape the electronics company, he also talked about the new company vision of creating ‘A Better Life, A Better World’. It is a vision that requires the commitment, involvement and collaboration of all the company’s stakeholders.

Identifying India and Brazil as the centerpiece of the future, Mr. Tsuga emphasized on driving growth by B2C businesses and profitability by focusing on B2B business specific to Energy, Security and devices to service the ever growing infrastructure of Indian market. The key strategy for fueling even more aggressive growth in India is to accelerate product developments and business promotion in order to meet the local needs.

Addressing the media, Mr. Kazuhiro Tsuga, President and Member of the Board of Directors, Panasonic Corporation said, “Always making "people" central to our activities, and thereby focusing on "people’s lives," we will continue to provide better living for our customers. This is the unchanging commitment we at Panasonic have had over many years and we are aiming to pursue the concept of "A Better Life a Better World," meeting the needs of each individual customer. We will leverage the strengths that we at Panasonic have long developed, and the strengths of our business partners who have in-depth expertise in each space, and will work to combine these strengths to create new value. As we continue to carry out these activities, we will make a robust recovery as a unique company, a company unlike any other in the world.”

Talking about India he added, “I am highly inspired by India’s vibrant energy and high market potential. As people here are truly committed to the Panasonic business– this has cascaded in our commitment and focus for the region. India is a high growth market for us globally; hence we are planning investment in this region on products, talent, marketing and manufacturing. There will be a sound focus on local manufacturing and expansion of production processes and the company will continue focusing on developing India-specific product innovations as well as Eco and Smart Solutions catering to domestic needs. Despite the consumer durables segment being challenging, Panasonic has successfully made inroads into household in India and with the implementation of the new management plan, we are sure that Panasonic will evenly grow in the enterprise segment as well”.

Pursuing the localization strategy in India, the company believes that business growth, modification of business, people, products and content should satisfy both the language and cultural differences of the targeted market. While working on providing localized products, there is a huge emphasis on local manufacturing going forward to meet up with the competitive Indian market. The philosophy has been to not simply import products from other countries, but should be specially customized for the Indian consumers keeping the local needs and conditions in mind and this has been the purpose of building the Technopark factory in Jhajjar to create products specific to the Indian market. It is this pillar of Localization that the company has done consistently well in the consumer electronics and home appliances segments.

With the government proactive to develop a framework to bring major transformation in the ecosystem to promote local manufacturing, Panasonic is keen to work together with other Indian companies with the aim to fuel the growth process. This coupled with the intent of bringing in Japanese expertise of product development and research is one of the reasons that during his three day visit, Mr. Tsuga also met business heads of Indian conglomerates like The Tata Group and Reliance Industries Limited. 

Panasonic India President Mr. Daizo Ito’s vision entails making Panasonic, an Indian company in India and under his aegis and guidance to drive empowerment through localization of Panasonic India’s leadership, for the first time ever the company recently appointed an Indian to lead its consumer durables as well as enterprise business in the country- Mr. Manish Sharma, erstwhile Managing Director of the Consumer Product Division of Panasonic India. This appointment is thus a part of the strategy of localization & empowerment making India a global talent hub whereby some potential executives can take up global leadership roles.

Panasonic in India is tuning itself to this global announcement so as to deliver on the mandate. Having done extremely well in the consumer business, and keeping in line with the new global business plan, Panasonic India now has a renewed focus on the B2B and B2G business. It is aiming of doubling the contribution of B2B segment to Panasonic’s overall revenue by 2015 and will be introducing new product ranges in this segment mainly in the Energy Solutions (products for creating, storing and saving energy), security and surveillance systems andsolutions products and will also be looking at collaborating with Indian enterprises for the same. The company is all geared up to soon enter the IT products segment considering the existing demand and requirement across the diverse population in India.

Abe's to visit Moscow 'economic diplomacy'

Japanese Prime Minister will visit Moscow for the first time in a decade. Shinzo Abe hopes to reset ties with Russia, end a stalemate in bilateral relations, gain momentum in economic cooperation and finally enact a World War II peace treaty.Abe will visit Moscow at the behest of Russian President Vladimir Putin on a trip that will last until May 30. “I would like to build a trusted personal relationship with President Putin,” Abe told reporters at a media briefing at Haneda Airport in Tokyo."The talks will mainly focus on prospects for further promotion of Russian-Japanese trade, economic, investment and energy cooperation," the PM’s press service said.

A considerable number of governmental agreements and business documents relating trade, investment and economic cooperation, inter-regional contacts, agreements in medicine, culture and sports will be signed, Kremlin’s press service said.

Putin and Abe have held a number of personal meetings in the past, meeting several times during Abe’s previous premiership in 2006 and 2007, on the sidelines of the APEC summits in Hanoi and Sydney and the G8 summit in Hailigendamm.

The last time the two communicated directly was in a telephone conversation last year. The foreign ministers of Russia and Japan met four times in 2012.

Abe expressed hopes that his visit to Moscow will mark “the first stage of economic diplomacy” that would make economic cooperation the centerpiece of bilateral relations.

Relations between the two countries remains tense due to a territorial dispute between Russia and Japan over Kuril Islands. However, Russian and Japanese businesses still cooperate closely on a growing number of issues.

Abe is accompanied by the biggest-ever business delegation in the history of relations between the two countries: Over 120 Japanese executives hoping to expand cooperation with Russia in energy, medicine, and urban development and infrastructure in the Far East, where some Japanese companies are opening assembly installations.

The trade turnover between Russia and Japan in 2012 reached $32 billion, a 5.3-percent increase over 2011. In January and February of 2013, Russia-Japan trade turnover totaled $4.3 billion, a 6 percent increase over the same period in 2012.

Russia is Japan's 15th-biggest foreign trade partner, while Japan is Russia's eighth-biggest, Tass reported. Mineral resources account for over 80 percent of Russian exports to Japan. Japanese imports from Russia mainly consists of machinery, chemicals, equipment and transport. Overall Japanese investments into Russia have reached $11 billion.

Japan imports oil and gas from Russia's Sakhalin-1 and Sakhalin-2 projects, and is boosting energy cooperation in the production liquefied gas, building petrochemical enterprises and improving gas and transport infrastructure.

Currently, 270 Japanese companies operate in Russian markets.

A decades-long dispute over the ownership of South Kuril Islands has prevented Moscow and Tokyo from signing a formal peace treaty for 67 years recognizing the cessation of hostilities following the end of World War II.

Tokyo has demanded that Moscow recognize Japan as the rightful owners of the South Kurils – the Kunashir, Shikotan, Iturup and Habomai Rocks. Moscow maintains that the USSR's annexation of these islands from Japan following World War II are non-negotiable.

"Russia believes that despite the complexity of the problem the dialogue should be aimed at finding the mutually acceptable solution and be held in a calm and respectful atmosphere," the Kremlin said ahead of the visit. Media agencies 

10 missing as 2 cargo ships collide off southwest Greece

Ten crewmembers are missing after a cargo ship sailing under a Cook Islands flag sank early on Monday off southwestern Greece after colliding with another cargo carrier, the Greek coastguard said. The Cook Islands ship, the Pirireis, collided with a ConSouth carrier sailing under an Antigua-Barbuda flag, about 75 nautical miles off the islet of Sapienza, Reuters reported. The ConSouth was not seriously damaged, and its crew of 16 is safe.

! Clearly, there are advantages to being in a state of denial. 

State of Denial

Rajiv Kumar

The Chairman of the Prime Minister Economic Advisory Committee (PMEAC) Dr. C. Rangarajan, was quoted on 24th April as saying that the current (XII) Five Year Plan could still see an average GDP growth of 8%!. During the interview, given after the release of the latest Economic Review by the PMEAC, Dr. Rangarajan  expounded on a lowering of the incremental capital-output ratio (ICOR) resulting in higher growth in coming years. In simple terms, he expects higher growth by a de-bottlenecking of large projects that will bring down the ICOR.  How one wishes it was as simple as this to get us back to a higher 8-9% growth trajectory.  Similarly, when in July 2011, at a seminar organized by Suman Berry, then head of the IGC, I had pointed out to  the then Chief Economic Advisor, Kaushik Basu, that investment was beginning to slacken dangerously, he simply pooh-poohed the warning. We know what happened thereafter. Investment tanked in India and Kaushik became the Chief Economist of the World Bank! Clearly, there are advantages to being in a state of denial.

In the first year of the Plan, i.e. 2012-13 economic growth will be no more than 5.2%. In the next year (2013-14) it can at best rise to 6% for the following reasons.  Government expenditure will necessarily remain repressed as the finance minister tries to bring fiscal deficit below 4.8% of the GDP as he has targeted in the budget. So any hopes of a pre-electoral splurge to boost aggregate demand, as was done in fiscal 2007-08 can surely be ruled out. The alternative is a hugely damaging credit downgrade that we can ill afford. So government demand will not provide a growth impetus. In fact, over the last quarter one has heard  of increasing instances of non-clearance of large volumes of government dues resulting in a significant negative impact on cash flows and profitability of service providers and contracting companies.

From all accounts private investment demand is unlikely to strengthen as the investment climate continues to remain vitiated in major growth sectors like telecom, autos, steel, power generation, highways, etc. Despite all the talk of reforms since September, we have yet to see any real initiative that   could boost investor spirits or promote investment. Moreover, there is now an apprehension of a major slow down in the real estate or the construction sector, which has provided a strong growth stimulus in the past ten years. So private investment demand, which is the strongest driver of growth, will remain weak this year. This is corroborated by demand for non-food commercial credit remaining weak and a rising level of NPAs in the banking sector.

 There is hardly any reason to believe that private consumption demand will reverse its current weakening trend and start rising. Disposable incomes are unlikely to increase significantly in the absence of large scale government handouts and continued weakness of employment prospects. The on-going decline in auto sales, declining demand for consumer durables and lower spend on consumption items like FMCG products and fast food outlets are clear signs of continued consumer pessimism and the fact that the mood in the country is distinctly downbeat. Finally, despite the recent feeble uptick in export growth, and the fact that a lower base (exports actually declined in 2012-13!) may provide a basis of higher growth in 2013-14, net external demand is unlikely to emerge as a growth driver in the current year. A similar conclusion for a GDP growth of sub 6% in 2013-14 can be reached by looking at the supply side and considering growth prospects in agriculture, industrial and services sector. Talk of 6.7 to 7% growth in the current fiscal is just wishful thinking.

With the first two years of the Plan period achieving 5 and 6% rate of growth, the economy will have to grow at more than 9% annually in the remaining three years of the Twelfth Plan to achieve an overall average of 8% GDP growth. Even for an average 7% rate of growth over the plan period, GDP growth will have to jump to 8% in 2014-15 and be sustained at that level. Given the onset of election season in full measure from October this year, and the prospects of significant political instability, it can only be as brave a man as Dr. Rangarajan who can talk so confidently of the Twelfth Plan coming in with 8% growth rate. Should there not be some accountability for government agencies to ensure that their forecasts and pronouncements have are not completely out of whack from ground realities?

Such facile talk of higher growth rates is dangerous because it induces complacency when none is warranted. There are 1 million (repeat 10 lakh) new entrants to our labour force every month. These youngsters, who represent our much flaunted demographic dividend, need jobs. Without, productive employment, they will add to the hordes of urban lumpen class, which is now visible in all our neighbourhoods and colonies except of course in Luteyns Delhi. They are all aspiring for the good life, which they will seize by means fair or foul. In the absence of jobs, they will earn their livelihood by joining the gangs of touts, petty brokers, smugglers, real estate mafia. The luckier ones will pay hefty sums to get in to the police force or other public sector jobs and then wreck havoc on the civil society as they attempt to recoup the bribe they paid to secure the prized 'sarkari naukri'.  It would be far more socially responsible for the government’s economic managers to not show their state of permanent denial by constantly talking of higher growth being round the corner, they should instead talk of the huge employment challenge facing the country and the dire consequences of these young people remaining unemployed and spilling out on the streets. This fear apparently kept Deng Xiaoping awake at night and led him to initiate the Chinese economic miracle. I wonder what apart from the fear of losing their jobs keeps our economic policy makers awake at night!

_________________________________________________

Author is Senior Fellow, CPR.

Behan Km. Mayawati ji’s  

Assembly Election Tour Programme in Karnataka 

on 27.04.2013 & 28.04.2013

S.No.	Date	Time	Meeting Place
1	27.04.2013	12.00 Noon	Shapur Road, Near Stadium, Jevargi, Gulbarga District
2	27.04.2013	02.00 p.m.	Teacher’s Colony Ground, Near Bhagath Singh College Ground, Humnabad, Bidar District
3	28.04.2013	01.00 p.m.	Kiwad Ground, NM Road, Chikkodi, Belgaum District

Posted  by Naresh Kumar Sagar

EFA Global Monitoring Report 2012:

200 million young people fail to complete primary school and lack skills for work

New Delhi, 26 April 2013 – The National launch of the EFA Global Monitoring Report, 2012: Youth and skills: putting education to work will take place in New Delhi on the 26 April 2013.   UNESCO has already published the Summary of the Report in English, French, Spanish, Arabic, Russian, Chinese, Nepalese, Bengali, Thai, Swahili, Japanese, and German languages. Today the Hindi and the Telegu version waslaunched by Dr Karan Singh, India’s Representative to UNESCO’s Executive Board and President ICCR, in the presence of Dr S. S. Jena, Chairman, National Institute of Open Learning, and DrSantoshMehrotra, DG, Institute of Applied Manpower Research (IAMR).   The 2012 Report, Putting Education to Work, reveals the urgent need to invest in skills for youth.  200 million young people in the world have not completed primary school and need a second chance to acquire basic skills for work. 91 million of these young people live in South and West Asia, making up more than a quarter of the region’s youth population and the greatest number of unskilled young people of any region in the world.

Where: Teen Murti House, New Delhi, India

When:  26 April 2013 at 9.30 am

Media Interview possibilities: Dr Karan Singh, India’s Representative to UNESCO’s Executive Board and President ICCR; Mr Shigeru Aoyagi, Director UNESCO New Delhi and UNESCO Representative; and MsTine Staermose, Director ILO New Delhi

Contact: Ms. Rekha Beri (r.beri@unesco.org)

The Report looks in depth at youth skills and shows that young people need the foundation skills taught at primary and lower secondary school to find decent jobs. India accounts for a huge proportion of the 200 million youth lacking foundation skills worldwide. Over a third of 15-19 year olds in the country have less than a lower secondary education and lack the skills they need for work.

The skills crisis is unlikely to improve anytime soon. In South and West Asia, about 13 million are still out of primary school and 31 million teenagers are out of secondary school, missing out on vital skills for future employment. Despite India making dramatic inroads increasing access to primary school, it still has the fourth highest number of out of school children of any country in the world.

There is also a learning crisis impeding the likelihood of the skills deficit being rectified with ease: Worldwide, 250 million children of primary school age cannot read or write, whether they are in school or not. In India, fewer than 5% of poor students reached over level 2 in mathematics in learning assessments done in 2009.

The Report cautions that these education failures are not only thwarting young people’s hopes, but are also jeopardizing equitable economic growth and social cohesion. The urban poor, those living in remote rural areas and young women are the worst off of all. Many youth coping without skills are unemployed or working with bad working conditions and being paid poverty line wages for life. In India in the 2000s, for example, there were estimated to be 10 million street vendors working informally.

Skills development programmes can be improved to boost young people’s opportunities for decent jobs and better lives.  Such investment in skills is a smart move for improving economic growth. The EFA Global Monitoring Report calculates that every US$1 spend on a person’s education yields US$10-15 in economic growth over that person’s working lifetime. India has realized this potential and aims to train 500 million of its poor urban youth by 2022 in courses and apprenticeships run by the public and private sector. There is also a national policy working to develop the skills of street vendors. NGOs are also helping: some work giving transferable skills such as confidence and self-esteem to poorer urban youth.

Mr Shigeru Aoyagi, Director of UNESCO Representative to India, Bhutan, Maldives and Sri Lanka says: “There is much that India can be proud of as regards its remarkable achievements and ambition for training young people in skills for work. However, it should be noted that the overwhelming majority of urban youth have little training to acquire skills. The skills shortage risks hampering the country’s growth and reinforcing inequality unless it is tackled immediately. Only if countries give their youth a second chance to learn basic skills such as reading, and skills in relevant trades will they make the full use of their potential.”

Ms Tine Staermose, Director ILO New Delhi, says: “As one of the largest informal economies, the percentage of skilled workers in India with any formal plus informal vocational training has been estimated as being close to 10% compared to 60-80% in developed countries.  The limited reach of skills development programmes not only affects the potential for socio-economic growth but also makes the transition from school to decent work more difficult for Indian youth.

Governments, donors and the private sector have a key role to play in raising new resources and using them more effectively to fill theUS$38 billion annual finance gap for good quality basic and lower secondary education. Many donors are not prioritizing education in their budgets. Only 2% of India’scommitment to other developing countries 2008 to 2010 was directed at education, for example.

The EFA Global Monitoring Reportaims to inform, influence and sustain genuine commit-mentacross more than 200 countries and territories towards the six Education for All goals established at the World Education Forum in Dakar, Senegal, in 2000. It shows that progress is stalling just when increased urgency should be fuelling a final push towards the 2015 deadline for meeting the goals.

n  Goal 1: Improvements in early childhood care and education have been too slow. In 2010, around 28% of children under five suffered from stunting, and less than half the world’s children received pre-primary education.

n  Goal 2: Progress towards universal primary education is stalling. The global number of children out of school stagnated at 61 million in 2010.Of 100 children out of school, 47 are never expected to enter.

n  Goal 3: Many young people lack foundation skills. In 123 low and lower middle income countries, around 200 million of 15 to 24 year-oldshave not even completed primary school, equivalent to one in five young people.

n  Goal 4: Adult literacy remains an elusive goal. The number of illiterate adults has dropped by just 12% between 1990 and 2010. In 2010, around775 million adults were illiterate, two-thirds of who were women.

n  Goal 5: Gender disparities take a variety of forms. In 2010, there were still seventeen countries with fewer than nine girls for every ten boys in primary school. In more than half of the ninety-six countries that have not achieved gender parity in secondary school, boys are at a disadvantage.

n  Goal 6: Global inequality in learning outcomes remains stark. As many as 250 million children could be failing to read or write by the time they should reach grade 4.

The EFA GMR Report calls for immediate action to solve the youth skills crisis. It identifies five key steps that should be taken, which can be tailored to fit country-specific circumstances:

1.         Over 91 million  young people in South and West Asia need to be given alternative pathways to learn foundation skills

2.         All young people need quality training in relevant foundation skills at lower secondary school

3.         Upper secondary curricula should provide a balance between vocational and technical skills, including IT, and transferable skills such as confidence and communication which are indispensable for the work place

4.         Skills strategies must target the disadvantaged: particularly young women and urban and rural poor

5.         Governments as well as donors and the private sector must help fill the funding gap of $38 billion to ensure all young people complete basic and lower secondary education

**************

The EFA Global Monitoring Report is developed annually by an independent team and published by UNESCO. The full report is available online at:www.efareport.unesco.org

For more information, please contact:

MrAlisherUmarov                                                            Ms Rekha Beri

Chief of Education                                                           Documentalist& Public Information

(a.umarov@unesco.org)                                              (r.beri@unesco.org)

Ph: 91-11-26713000                                                         Ph: 91-11-26713000

 Prachi Desai and Vidyut Jammwal admit they do not know their mom’s dream

27 04 2013

P&G urges children to say ‘Thank You Mom’  by coming forward to realize their mom’s lost dreams

New Delhi, Friday, 26^th April, 2013: Vidyut Jammwal, and actor Prachi Desai, came together in Delhi at the P&G Thank You, Mom Survey launch to share heart-warming stories of how if it weren’t for their moms, they would not be living their dream today. Somewhere along the way, they all forgot what Vimla Jammwal and Amita Desai’s dreams were. Vidyut & Prachi are just cases in point. The AC Nielsen and P&G ‘Thank You Mom’ survey reveals that 77% of moms surveyed do not talk about their unfulfilled dreams.
With support from influencers and mothers from different walks of life, P&G enabled children to fulfil their mom’s wishes for them last year. This year the campaign led by P&G and its brands Ariel, Vicks, Whisper, Pampers goes one step further to realize a mom’s dream. These are her forgotten dreams that she had given less importance to, while realizing her children’s dream. Hence, P&G and children join hands this year to enable moms to free up their time & realize their dreams for themselves.
Interestingly, while 87% of moms surveyed said that they would like to have some free time for themselves, 79% of children stated that they would like to help their moms with daily chores, but they are too busy at work to help moms. But then, this is a great opportunity! After all, 93% of moms also say that they would like for their children to realize their dreams!
Commenting on the occasion, Kainaz Gazder, Marketing Director P&G Indiasaid “P&G has always strived to work towards touching and improving lives of mothers across the world. Each of P&G’s brands is committed towards identifying the challenges a mother faces in her everyday life, and is aiming at easing those with superior, consumer-meaningful products. We believe this purpose that drives us is the core reason for the loyalty our consumers bestow on us. While our products help a mom reduce the tediousness of her chores, as the proud sponsor of Moms, P&G’s ‘Thank You Mom’ hopes to also acknowledge a mom’s dedication towards the wellbeing of her family. In its second year, as part of the campaign, we, joins hands with children across the country to enable moms to realise at least one lost dream” 
As children live the daily rush, they become oblivious to the efforts put in by mothers to reduce hurdles and simplify their lives. Moms continue to perform their duties selflessly, without expectations, at the cost of losing out on their own dreams- for some to be a successful working woman, a sports person, for others to be an accomplished musician, artist…
Speaking at the event, Prachi Desai said “My mom has been my friend, my confidant and a source of strength. Last year as part of the launch of P&G ‘Thank You Mom’ in India, I realised that I hardly ever thank my mother for the scores of little and big things she does for me day in and day out. This truth came to me almost as a shock, and ever since I have made it a part of my conscious self to express my gratitude to my mother as often as I can. , Saying Thank You Mom seems like the best thing I can now say”.  She continued further to say “This year once again, this campaign has compelled me to think and bring forth the realisation that my mother has indeed  sacrificed a lot of her dreams to make my dream of being an actress come true. This is really the time for me to make an attempt to find that lost dream and make every effort to realize it for my mother”
Given this, the second year of Thank You Mom aims to bring about a similar realisation in many more children, and get them to think about their mother’s unfulfilled dreams. After all, for all the sacrifices moms make for their children,  what better way can a child say “Thank You Mom’ than by realising her lost dream.
To learn more, consumers can visit http://www.facebook.com/ThankYouMomIndia?fref=ts

About P&G

P&G is one of the largest and amongst the fastest growing consumer products companies in India. Its presence pans across the Beauty & Grooming segment, the Household Care segment as well as the Health & Well Being segment, with trusted brands that are household names across India. These include Vicks, Ariel, Tide, Whisper, Olay, Gillette, Ambipur, Pampers, Pantene, Oral-B, Head & Shoulders, Wella and Duracell. P&G operates under three entities in India, two listed entities ‘Procter & Gamble Hygiene & Health care Limited’ and ‘Gillette India Limited’, as well as one 100% subsidiary of the parent company in the U.S. called ‘Procter & Gamble Home Products’. Please visit www.pg-india.com for further details.