Indian Current Affairs: 29.06.2007

I have answered a couple of your shout-box queries. One is on RBI taking over the SBI stake and the other is on Agri-clinics. Take a look at these in our Discover It blog.
The US visa controversy

We noted sometime back that the US senators are suspecting that the Indian IT majors are misusing the H1-B visas to displace qualified American workers.
They are now leveling fresh allegations that these companies are misusing the L visa. The L visa is designed to give freedom to companies the freedom to transfer managers and specialists within the company to their US offices.

We noted sometime back about this. We take a look at the technology details that appeared in today’s ET.
Two small copper coils are separated from each other by about two meters. One is connected to a power source – plugged to a wall socket – and the other is connected to a lightbulb waiting to be turned on. When the power from the wall is turned on, electricity from the first metal coil creates a magnetic field around that coil. The coil attached to the lightbulb picks up the magnetic field, which in turn creates a current within the second coil, turning on the bulb.
However, the system is only 40% efficient compared to lighting a wired bulb. But it could be useful to wirelessly power devices which have low power consumption – like mobile phones.
In the years to come, the technology is likely to be refined and be deployed on a larger scale.

Scientists at Cambridge based biotechnology firm Intercytex have come out with a method to grow skin artificially.
Known as ICX-SKN, this could help in healing wounds and cancer patients.
Fibroblasts are cells that are responsible for the production of collagen. Collagen is the protein that gives skin its strength and elasticity.
What they have done is to coax fibroblasts into multiplying and producing collagen. After a few weeks, the cells and collagen knit together to form a section of skin-like material.

This coincides with the birth anniversary of noted statistician P.C. Mahalanobis.
On this occasion, the National Award in Statistics for Young Statisticians for the year 2006-07 will be presented to Dr. Ayanendranath Basu of ISI, Kolkata.
The recipient of this year’s International Mahalnobis Award is Dr. IP David.

We have noted in our blogs about both these instruments.
EBs – Exchangeable Bonds are debt-equity instruments that will enable companies to tap overseas markets for raising capital by unlocking value in their group companies.
FCCBs – Foreign Currency Convertible Bonds – can be redeemed only for shares of the issuing company – not group companies in which the issuer has a stake.
The government is likely to prescribe a minimum threshold level for the coupon rate on EBs to ensure that only quality paper is issued to international investors.

It is really quite sometime since I have given you figures about markets. Whenever you have to write a good essay on a subject in detail, it becomes imperative to lace it with it facts and figures. Let’s look at the footwear market today.
The annual production of footwear in India is pegged at 2095.3 lakh pairs in 2006-07.
Small scale sector accounts for over 55% of the total footwear production.
India’s share of the global footwear imports is at 1.5% as against China’s 14%.
For a population of about 112 crores, we are producing hardly about 21 crore footwear!! Is this translating to something like only one in every 5 persons having footwear?

Indian Current Affairs