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Author: anuragupta Big gold star, 5000 posts Top Favorite Fools Old School Fool Ticker Guide CAPS All Star Global Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1636  
Subject: Corporate corruption in India Date: 3/21/2012 7:58 PM
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It is easy to bash the government on corruption but a far greater magnitude of corruption is perpetrated by corporations

Arundhati Roy's - India's Noam Chomsky - latest article:
http://www.outlookindia.com/article.aspx?280234

Although the article is global in nature it weaves together quite well the nexus between corporations, NGOs, governments and their impact on the common man. In the India context, she points out how major corporate groups like Tatas, Reliance, Jindal etc have discovered the utopia by selling something they don't have to pay for - wealth worth trillions of dollars buried underground. One might wonder where is the data for all this. Well, look no further:

http://timesofindia.indiatimes.com/articleshow/12360183.cms
The latest reported scam report how $250B worth of coal has been gobbled up by a bunch of corporations for small bribes to the govt. Muscle power has been used in full swing to displace people and grab land.

There are already rumblings on how the outsourcing boom in India could enter its terminal phase in the next decade. India without a manufacturing base and a huge import dependency on electronics and oil is likely to have a very tough future in the absence of major changes. Export of mineral wealth can only last for so long.

I would be plotting my exit strategy from Indian investments in real estate and stock market (except for strategic investments in shareholder friendly firms such as HDB, Tata Steel and Pharma) over the next decade unless the story changes.

Anurag
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