Archive for January, 2010

India’s Exports Rise to the Highest in the Past 15 Months

India's exports rise to the highest in the past 15 months

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Growing for the second straight month, India’s exports touched $14.6 billion in December.

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This is the highest in the past 15 months, helped by an uptick in demand for merchandise in the western markets.

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“We have registered exports of $14.6 billion in December,” commerce and industry minister Anand Sharma told.

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The December growth is about 16% from a year ago, while the expansion is about 10% compared to shipments in November this fiscal.

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The two straight months of growth comes after exports fell for 13 months in a row since October 2008.

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Sharma said going ahead the momentum would be maintained.

He, however, added that exporters are yet to recover from the setback of the past 13 months.

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Sectors like engineering, auto components and pharma helped exports rise again.

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Analysts said December growth has come about on a low base last year when the global demand dropped sharply due to the global recession.

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The December figure reflects the best ever performance since August 2008 when exporters shipped goods worth $16 billion.

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Demand for the Indian products seems to be reviving in the western markets. 🙂

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🙂

RBI Increases CRR, Kicked off its War against Inflation

RBI Increases CRR, Kicked off its War against Inflation

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The Reserve Bank of India (RBI) has kicked off its war against inflation and build-up of inflationary pressures by announcing a surprise increase of 75 basis points in the Cash Reserve Ratio (CRR).

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Cash reserve ratio is the minimum liquid assets, banks have to retain against deposits or park with the central bank in the form of government securities.

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The CRR will be hiked in two stages : 50 basis points from Feb 13 and another 25 basis from Feb 27 – from the present 5 percent, Reserve Bank of India (RBI) Governor D Subbarao told.

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However, in a cautious move not to disrupt the money supply, the RBI left the key policy rates – repo and reverse repo – unchanged.

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“As a result of this increase in the CRR, about Rs.36,000 crore of excess liquidity will be absorbed from the system,” Subbarao added, as he presented the third quarterly update of the central bank’s monetary policy for this fiscal.

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Subbarao said the cut in excess liquidity will help anchor inflationary expectations and that the recovery process of the economy will be supported without compromising on price stability.

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As inflation was steadily growing and the economy was slowly returning to higher growth trajectory, it was expected that the RBI would tighten monetary policy.

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But the 75-bps hike, according to investors, is a “more hawkish” move than many expected.

The market had expected and was prepared for a 50-bps hike.

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Central bank has said the action was necessary as the “rapidly rising” food inflation was putting pressure on other sectors as well.

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India’s inflation jumped to 7.31 percent in December, 2009 from 4.78 percent in November, mainly driven by high food prices.

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The questions cropping up as a result of this move are :

-Will this move by the central bank going to check the inflation?

-Moreover, what implications this step holds for the economic growth?

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Stay Tuned for More.. 🙂

Lets Know About Economic Indicators :)

Hello Friends here we come up with our another write up on “SMC Gyan Series”.

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Lets Know About Economic Indicators

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Topic is “Economic Indicators”.

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Economic indicators are important as they provide an accurate account of nation‘s economy at various points of time.

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There are various types of economic indicators that deal with different periods of time and there are others that deal with separate administrative divisions like states for example.

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They are important in context of analyzing nation’s economy.

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In this Blog, we would know what are major economic indicators ?

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Major Economic Indicators :

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1. Industrial Production:

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Measures the change in the production of the nation’s factories, mines and utilities, industrial production.

Also measures the country’s industrial capacity utilization.

2. Gross Domestic Product (GDP):

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Indicates the pace at which a country’s economy is growing or shrinking.

3. Purchasing Managers Index (PMI):

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This index includes data on new orders, production, supplier delivery times, backlogs, inventories, prices, employment, export and import orders.

4. Producer Price Index (PPI):

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Measures average changes in selling prices received by domestic producers in the manufacturing, mining, agriculture, and electric utility industries.

The PPIs most often used for economic analysis are those for finished goods, intermediate goods, and crude goods.

5. Consumer Price Index (CPI):

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Measures the average price level paid by urban consumers (80% of the population in major currency countries) for a fixed basket of goods and services.

6. Durable Goods:

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Measures new orders placed with domestic manufacturers for immediate and future delivery of factory hard goods.

This figure is a useful measure of certain kinds of customer demand.

7. Employment Cost Index (ECI):

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ECI counts the number of paid employees working part-time or full-time in the nation’s business and government establishments.

8.Retail Sales:

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It is the indicator of broad consumer spending patterns and is adjusted for normal seasonal variation, holidays, and trading-day differences.

9. Housing Starts :

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Measures the number of residential units on which construction is begun each month.

Thus to conclude Economic indicators is a tool for an investor for knowing the economic world.

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It also simultaneously a tool to smartly make money out of the sensitive movements of the financial & commodities market.

🙂

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Note : For More Latest Industry, Stock Market and Economy News and Updates, please click here

Morning News Capsules – 29th Jan 2010

Hello Friends, here, we bring you the latest updates from the Indian market and Industry.

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Latest updates from the Indian market and Industry

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NEWS CAPSULES

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India’s food price index rose 17.40 percent in the 12 months to Jan. 16, rising for the first time after falling for three consecutive weeks, while the fuel index was up 5.70 percent.

Bharat Heavy Electricals Ltd (BHEL), the country’s largest power equipment manufacturer, signed a joint venture (JV) deal with Madhya Pradesh Power Generation Company Ltd (MPPGCL) for setting up a 1,600-Mw supercritical thermal power plant in Khandwa district.

• State-run Hindustan Petroleum Corp plans to invest Rs 25,000 crore to set up a refinery with an annual capacity of 15 million tonnes a year on the west coast.

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The new refinery may be located anywhere between Mumbai and Goa on the western coast and is being mulled to make up for the space constraint the Mumbai refinery faces.

HCL Technologies said it has received a contract worth around Rs 231 crore from UK-based defence equipment maker Meggitt for providing engineering services.

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Meggitt signs $50 million (around Rs 231 crore) global engineering transformation services agreement with the company’s engineering and R&D services (HCL ERS) division.

Tata Steel said its net profit on a standalone basis for the quarter ended December 31 more than doubled to Rs 1,190 crore against Rs 466 crore a year ago.

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The company’s profit grew on the back of higher demand for steel from automakers and builders.

Sales for the company grew by 33 per cent to Rs 6,307 crore in the period.

Jindal Steel & Power (JSPL) said its consolidated net profit declined by 3.20 per cent to Rs 874.35 crore for the third quarter ended December 31, compared to the same period corresponding fiscal.

Cipla has posted a 29 per cent increase in net profit at Rs 289 crore for the quarter ended December 31, 2009.

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The company had registered a profit of Rs 223 crore in the corresponding quarter of the previous financial year.

Bharat Petroleum Corporation (BPCL) today reported a fall of 52.6 per cent in net profit at Rs 379.09 crore for the third quarter of 2009-10.

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It had a net profit of Rs 799.84 crore in the year-ago period.

Cairn India today reported a 23 per cent rise in net profit to Rs 291 crore in the third quarter.

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The company had a net profit of Rs 290.96 crore in October-December compared with Rs 236.42 crore in the corresponding period previous fiscal.

• An increase in total expenditure, coupled with a heavy deferred tax burden, pulled down the consolidated net profit of Tata Tea Ltd by 77 per cent to Rs 92.23 crore in the quarter ended December 31, 2009.

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The company had clocked a profit of Rs 396.12 crore in the corresponding period in the previous financial year.

🙂

Note : For More Latest Industry, Stock Market and Economy News and Updates, please Click Here

Now, Trading in Derivatives Contracts in 3 More Currency Pairs :)

Trading in Derivatives Contracts in 3 More Currency Pairs

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Spirits of indian investors and institutions dealing in foreign currencies were boosted by the latest news of regulators allowing Indian bourses to start trading in derivatives contracts in three more currency pairs.

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Rupee-Euro, Rupee-Japanese Yen (JPY) and Rupee-British Pound (GBP).

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Currently, only trading in futures contracts in Rupee-US Dollar is allowed on the bourses, which began on the NSE on August 29, 2008, followed by MCX-SX.

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Permission from the banking regulator Reserve Bank of India (RBI) and the Securities and Exchange Board of India (Sebi) came within a month of the combined turnover of the two forex derivative boursesNSE’s foreign forex trading segment and MCX Stock Exchange (MCX-SX)— crossing the combined turnover of the cash market of NSE and BSE.

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Last fortnight, the forex derivatives markets recorded a turnover of nearly Rs 34,500 crore, compared to about Rs 23,200 crore on the two bourses’ cash segments.

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Although BSE offers forex derivatives trading, the segment is yet to take off.

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Following the global trend, where forex trading volumes dwarf volumes in both equities and commodities, the forex derivatives segment in India took just a year and a half since their launch to surpass the turnover in the cash segment of the bourses.

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However, spokespersons from both NSE and MCX-SX said that these bourses will start trading in these three new pairs very soon.

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🙂

Indian Private Equity Industry to Hit By US Banks Curbs : Experts

Indian Private Equity Industry to Hit By US Banks Curbs

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In case, US President Barack Obama‘s proposal to curb the role of commercial banks in hedge and PE funds is implemented, then fund-raising could indeed become a very tough task for Indian private equity players.

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But at the same time, the move could help Indian funds take part in more deals, market players insist.

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Obama has proposed to bar commercial banks from owning, advising and investing their own capital in PE and hedge funds.

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Though most investors in Indian PE funds are university funds, endowment funds, pension funds, insurance funds and institutional investors,  the industry expects the move to impact fund-raising in the long term and in big way, as banks will be barred from taking part in these funds.

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A large number of venture capital and PE funds of US-based commercial banks had reduced their exposure to India during the economic slowdown.

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Though few big ones like Goldman Sachs, Merrill Lynch etc; stayed back in the market.

Indian PE players hope to get more deals if these players vacate the market.

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Market experts do not see any significant impact in the coming few months, but cannot deny that a slowdown in USA market will surely impact the Indian private equity industry.

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They feel that any curbs on banks would make fund-raising a very difficult task since banks were the biggest contributors of funds.

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Industry players say the focus will shift from funds of banks to fund of funds, pension funds, and university and endowment funds.

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“It will be difficult to put a number as these transactions are structured in a complex manner.

But I believe a significant proportion of investments in India-based PE funds come from balance sheets of these banks.

These firms will be affected and will have to look for new sources of money,” said Jagannadham Thunuguntla, equity head at SMC Capitals.

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🙂

Spices Exports to Cross $1 billion: V.Kurien

Hello Friends here we come up with the Latest Agri Commodities updates from various parts of the globe and country.

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Spices Exports to Cross $1 billion

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Spices exports to cross $1 billion: Kurien

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Spices exports from India will cross the $1-billion mark in the current financial year, according to VJ Kurien, chairman of the Spices Board.

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Till December, the country had exported spices worth $830 million, despite the economic recession.

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Addressing a press conference here, Kurien said in the first half of the current year, the export sector was in troubled waters due to the economic downturn.

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But, exports of chilli, coriander, mint and value-added spices picked up later, he said.

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At present, the demand from these countries is largely met through European re-sellers and the board plans to attract buyers from these countries to sourcing markets in India.

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Kurien said the Spices Park at Puttady in Idukki district of Kerala would commence operation in the first week of March.

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🙂

In Other major Commodities Updates we can read about palm oil prices growing at a weaker pace and about the starting of Wheat e-auction for open mkt sale from February.

🙂

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Palm oil prices likely to recover at weaker pace:

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Palm oil prices, which have lost about 8% so far this year, are expected to grow at a weaker pace as rival soyoil eats into the vegetable oil market following a bumper US and South American soybean crop.

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Benchmark crude palm oil futures on the Bursa Malaysia Derivatives Exchange hit an all-time record of 4,486 ringgit in early March 2008 and then tumbled  to a low of 1,331 ringgit in October the same year at the height of the financial crisis.

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It is now trading 44% below record levels.

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Indonesia, the world’s top palm oil producer has projected output in 2010 to reach 23 million tonnes, up from 21 million tonnes last year.

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Malaysia, the world’s No. 2 palm oil producer, may see production increase by 3.4%, to 18.1 million tonnes this year, on the weaker impact of the El Nino weather condition, which usually brings drier weather.

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A free trade agreement between China and the 10-member Association of South East Asian Nations will see China’s import tariffs for palm oil cut to zero and 5% by January 2018 from eight and 9%.

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🙂

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Wheat e-auction for open market sale to start from February:

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The government has decided to sell its excess wheat stocks through e-auction by the Food Corporation of India (FCI) from February.

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The e-auction intends to cut down prices of wheat offered under the open market sale scheme (OMSS) by reducing transaction cost.

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🙂

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Note : For More Latest Industry, Stock Market and Economy News and Updates, please Click Here

This is My INDIA – Just Beat That !

Facts To Make Every Indian Proud

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Facts To Make Every Indian Proud

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1. The name ‘India’ is derived from the River Indus, the valleys around which were the home of the early settlers.

The Aryan worshippers referred to the river Indus as the Sindhu.

🙂

2. When many cultures were only nomadic forest dwellers over 5000 years ago, Indians established Harappan culture in Sindhu Valley (Indus Valley Civilization).

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3. India never invaded any country in her last 100000 years of history.

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4. Chess was invented in India.

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5. Algebra, Trigonometry and Calculus are studies, which originated in India.

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6. The ‘Place Value System‘ and the ‘Decimal System‘ were developed in India in 100 B.C.

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7.  The World’s First Granite Temple is the Brihadeswara Temple at Tanjavur, Tamil Nadu.

The shikhara of the temple is made from a single 80-tonne piece of granite.

This magnificent temple was built in just five years, (between 1004 AD and 1009 AD) during the reign of Rajaraja Chola.

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8. India is the largest democracy in the world, the 6th largest Country in the world, and one of the most ancient civilizations.

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9. The game of Snakes & Ladders was created by the 13th century poet saint Gyandev.

It was originally called ‘Mokshapat’.

In time, the game underwent several modifications, but its meaning remained the same,i.e. good deeds take people to heaven and evil to a cycle of re-births.

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10. India has the largest number of Post Offices in the world.

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11. The largest employer in the world is the Indian Railways, employing over a million people.

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12. The University of Nalanda built in the 4th century was one of the greatest achievements of ancient India in the field of education.

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13. Ayurveda is the earliest school of medicine known to mankind.

The Father of Medicine, Charaka, consolidated Ayurveda 2500 years ago.

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14. India was one of the richest countries till the time of British rule in the early 17th Century.

Christopher Columbus, attracted by India’s wealth, had come looking for a sea route to India when he discovered America by mistake.

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15. The Art of Navigation & Navigating was born in the river Sindh over 6000 years ago.

The very word Navigation is derived from the Sanskrit word ‘NAVGATIH’.

The word navy is also derived from the Sanskrit word ‘Nou’.

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16. Bhaskaracharya rightly calculated the time taken by the earth to orbit the Sun hundreds of years before the astronomer Smart.

According to his calculation, the time taken by the Earth to orbit the Sun was 365.258756484 days.

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17. The value of “pi” was first calculated by the Indian Mathematician Budhayana, and he explained the concept of what is known as the Pythagorean Theorem.

He discovered this in the 6th century, long before the European mathematicians.

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18. Taj Mahal World’s One of Finest Wonders is in Agra, India.

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19. Quadratic Equations were used by Sridharacharya in the 11th century.

The largest numbers the Greeks and the Romans used were 106 whereas Hindus used numbers as big as 10*53 (i.e. 10 to the power of 53) with specific names as early as 5000 B.C.during the Vedic period.

Even today, the largest used number is Terra: 10*12(10 to the power of 12).

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20. Indian dances styles based on the Tandava like the Urdhra Tandava, Sandhya Tandava, etc.

Indian classical dance found its way outside India, especially to the countries of Southeast Asia.

The dance styles of Thailand, Indonesia, Burma, etc., have so heavily borrowed from the Indian classical dance traditions that to a casual observer there would seem to be hardly any difference between the two.

While Western dance has not directly borrowed anything from Indian classical dance, it has borrowed from Indian folk dance through the medium of the Gypsies.

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21. The Baily Bridge is the highest bridge in the world.

It is located in the Ladakh valley between the Dras and Suru rivers in the Himalayan mountains.

It was built by the Indian Army in August 1982.

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22. Sushruta is regarded as the Father of Surgery.

Over 2600 years ago Sushrata & his team conducted complicated surgeries like cataract, artificial limbs, cesareans, fractures, urinary stones, plastic surgery and brain surgeries.

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23. Usage of anaesthesia was well known in ancient Indian medicine.

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24. Detailed knowledge of anatomy, embryology, digestion, metabolism, physiology, etiology, genetics and immunity is also found in many ancient Indian texts.

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25. India exports software to 90 countries.

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26. The four religions born in India – Hinduism, Buddhism, Jainism, and Sikhism, are followed by 25% of the world’s population.

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27. Jainism and Buddhism were founded in India in 600 B.C. and 500 B.C. respectively.

Islam is India’s and the world’s second largest religion.

There are 300,000 active mosques in India, more than in any other country, including the Muslim world.

Jews and Christians have lived continuously in India since 200 B.C. and 52 A.D. respectively.

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28. The largest Railroad system in the world, The longest paved Highway system in the world (1,517,080 km),

The largest Highway system in the world (3,319,640 km) and second largest food producer after China.

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29. India is in a select group of six nations which successfully accomplished mission of placing the 2000 Kg satellites into space.

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30. The oldest European church and synagogue in India are in the city of Cochin.

They were built in 1503 and 1568 respectively.

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31. India is today recognized as one of the countries most advanced in nuclear technology including production of source materials.

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32. The Vishnu Temple in the city of Tirupathi built in the 10th century, is the world’s largest religious pilgrimage destination.

An average of 30,000 visitors donate $6 million (US) to the temple everyday.

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33. Varanasi, also known as Benaras, was called “the Ancient City” when Lord Buddha visited it in 500 B.C., and is the oldest, continuously inhabited city in the world today.

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34. India provides safety for more than 300,000 refugees originally from Sri Lanka, Tibet, Bhutan, Afghanistan and Bangladesh, who escaped to flee religious and political persecution.

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35. Martial Arts were first created in India, and later spread to Asia by Buddhist missionaries.

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36. Yoga has its origins in India and has existed for over 5,000 years.

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37. Quotes about India :

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“We owe a lot to the Indians, who taught us how to count, without which no worthwhile scientific discovery could have been made!” – Albert Einstein (Theoretical Physicist, Germany)

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“India is the cradle of the human race, the birthplace of human speech, the mother of history, the grandmother of legend, and the great grand mother of tradition. Our most valuable and most artistic materials in the history of man are treasured up in India only!” – Mark Twain (Writer, America)

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38 .Co-founder of Sun Microsystems is an Indian that is Vinod Khosla and Creator of Pentium chip (needs no introduction as 90% of the today’s computers run on it) is also an Indian, Vinod Dahm.

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39. Largest contributor of United Nations peacekeepers (55,000 Indian personnel serving in thirty-five nations for peacekeeping)

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40. Founder and creator of Hotmail (Hotmail was world’s No.1 web based email program) is Sabeer Bhatia, an Indian.

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41. President of AT & T-Bell Labs (AT & T-Bell Labs is the creator of program languages such as C, C++, Unix to name a few) is Arun Netravalli , an Indian.

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42. GM of Hewlett Packard is Rajiv Gupta, an Indian.

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43. New MTD ( Microsoft Testing Director) of Windows 2000, responsible to iron out all initial problems.

Sanjay Tejwrika is an Indian.

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44. Chief Executives of CitiBank, Mckensey & Stanchart are Victor Menezes, Rajat Gupta, and Rana Talwar respectively, all Indians.

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45. India invented the Number system.

Aryabhatta invented ‘zero.’

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46. The world’s first University was established in Takshila in 700BC.

More than 10,500 students from all over the world studied more than 60 subjects.

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47. According to the Forbes magazine, Sanskrit is the most suitable language for computer software.

Indian Brahmi script was used in Malaysia and some other parts of South-east Asia.

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48. In the field of missile launch technology, India is among the five top nations of the world.

India has got second largest Army in World

World’s Fifth largest Navy and Fourth largest Air Force.

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49. According to the Gemological Institute of America, up until 1896, India was the only source of diamonds to the world.

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50.  In Biotechnology, Indian biotech industry is growing at an annual rate of 38% compared to 17% growth worldwide.

We are fourth largest producer of pharmaceuticals.

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🙂

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Proud to be an Indian. 🙂

JAI HIND 🙂

INDIA Gears Up to Celebrate the Glory of India’s 60th Republic Day :)

Hello Friends, each year, 26th January is a day on which every Indian heart fills up with patriotic fervor and immense love for the motherland.

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INDIA Gears Up to Celebrate the Glory of India’s 60th Republic Day 🙂

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Indians around the world would celebrate their 60th Republic Day tomorrow on January 26 – the day, which marks the adoption of the Constitution of India and the transition of India from a British Dominion to a republic on January 26, 1950. 🙂

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On this occasion, a grand parade is held in New Delhi, the Capital of India, beginning from Raisina Hill near the Rashtrapati Bhavan (Presidential Palace), along the Rajpath, past India Gate and on to the historic Red Fort in the old quarter of the city.

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Different infantry, cavalry and mechanized regiments of the Indian Army, the Indian Navy and the Indian Air Force march in formation, decked in all their finery and official decorations.

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The President of India, who is also the Commander in Chief of the Indian Armed Forces, takes the salute.

The Chief Guest of the parade is a Head of State of another nation.

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The parade also includes many traditional dance troupes, to symbolize the cultural heritage of India.

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It traditionally ends with a colourful flypast by Air Force jets in a tiranga formation.

Similar parades are held in the capitals of all the states of India, where the governors of the respective states take the salute.

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Republic Day is celebrated all over the country – national capital, state capitals, municipal corporations, panchayats, and other official agencies. 🙂

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At the level of the people, it is observed in homes, housing colonies, schools, colleges and institutions of every kind. 🙂

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Amid intelligence inputs about possible terror attacks ahead of Republic Day, an impregnable ground-to-air security apparatus is being put in place in the capital to pre-empt any such strikes.

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Thousands of personnel of Delhi Police and paramilitary are being deployed in and around the city, especially near from the Rajghat, along the Vijaypath.

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However nothing can deter our spirits to celebrate our 60th Republic day.

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We should be really Proud of INDIA and about the contribution of Indians to the world but in the midst of our celebrations we must not forget about our Martyrs 🙂

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As well we need to remember that we all hindu, muslim, sikh, christians, buddhists are brothers 🙂

Long live those who stands for “Qoami ekta” and “Unity in Diversity” 🙂

Hail to Our Father of Nation and all those Martyrs who got us our Freedom and Constitution.

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🙂

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Proud To Be an INDIAN.

JAI HIND 🙂