The Land Acquisition, Resettlement and Rehabilitation (LARR) Bill 2011: Providing Solutions or Raising Questions?

The Land Acquisition Act (LAA) of 1894 empowers the Indian state to exercise eminent domain for acquiring private land in ‘public purpose’. During the last few years, India has witnessed raging debates on whether the state is justified in acquiring land for use and development by industry. The Government has sought to address various concerns raised in this regard through the Land Acquisition, Resettlement & Rehabilitation (LARR) Bill of 2011, which seeks to replace the LAA. Several provisions in the Bill are influenced by the recommendations of the National Advisory Council (NAC). This paper examines the LARR Bill for identifying its improvements over the LAA in addressing rights and concerns of land owners. It also analyses the illustration of ‘public purpose’ and the role of the Government envisaged in acquiring land for industry in the LAA, the NAC’s recommendations and the LARR Bill. The paper argues that while the Bill improves over the LAA in a few aspects, it is a sub-optimal legislation from a rights-based approach as it does not strengthen individual rights to property for empowering individuals to challenge ‘public purpose’

Technological Capability as a Determinant of FDI Inflows - Evidence from Developing Asia & India

During 2006-07, FDI inflows into India were more than double than those in 2005-06. Indeed, during April-January 2006-07, inward FDI into India at US$16.4 billion, was far higher than the annual average inflow of US$2-3 billion during the late 1990s. In recent years, India has also emerged as one of the leading FDI destinations in Asia. On the whole, the pattern of FDI inflows to developing Asia itself has changed significantly over the years. Some leading Southeast Asian economies (for example, Malaysia, Indonesia, Thailand and Philippines) no longer attract as much FDI as they used to in the past. Thisis in sharp contrast to some East and Southeast Asian economies that continue to draw large FDI (for example, China, Hong Kong and Singapore). In the above context, this paper attempts to explain the country-wise variations in the pattern of FDI flows to developing Asian economies by empirically identifying location specific features influencing such flows. The paper argues that some countries in the region, which have developed long term sources of comparative advantages in the form of superior technological capabilities and supporting infrastructure have consistently attracted greater volumes of export-oriented FDI. These attributes are also crucial for explaining the steady improvement in FDI flows to India. The paper finds that with production processes becoming increasingly complex and technology-intensive, developing countries like India, must devote greater attention to the development of R&D and frontier technologies, failing which, they might lose out in the race for FDI.FDI inflows, technology and technological capabilities, locational advantages, IT-based communication facilities

Technological Capability as a Determinant of FDI Inflows: Evidence from Developing Asia & India

This paper contributes to the empirical literature on determinants of FDI by addressing the question: Why do some developing countries from Asia continue to receive more FDI, while others from the region have fallen behind? It finds R&D-based innovative capacities, and the ability to apply such capacities through modern IT-based techniques, as the two key determinants explaining FDI inflows to developing Asian economies. These traits are found significant for inward FDI in India too with more technology intensive sectors receiving greater FDI. The findings of the paper suggest that in the absence of strong technological foundations and well-developed communications infrastructure, liberal policies alone are not enough for drawing FDI, once initial advantages, like cheap labour, fizzle out. For developing countries like India, strong thrust on R&D and innovative skills is needed for attracting FDI in technology-intensive exports. Therefore, policy actions would have to go further than a broad-based opening up of sectors to FDI, and increasing the limit of such investment in these sectors, for sustained inflows of FDI.FDI inflows, technology and technological capabilities, locational advantages, IT-based communication facilities

Feasibility of an Asian Currency Unit

In this paper we evaluate the feasibility of a common Asian Currency Unit (ACU) involving countries of East and South Asia. We analyze the various properties of an ACU and calculate its value using weighted averages of the values of Asian currencies. Looking at the movement of individual Asian currencies vis-a-vis the ACU, we find that there have been severe misalignments among the Asian currencies during the past seven years. We discuss the possibility of the Rupee figuring in the ACU and identify the major economic, political and historical impediments in the way of faster acceptance of ACU in the region. We point out the various strategies that could be employed to facilitate faster adoption of ACU. These include creating certain institutional safeguards as well as strengthening the existing ones. Finally, we highlight some ways to promote the use and acceptability of the ACU and also emphasize the importance of conceiving a larger framework of participating countries, including India.Asian Currency Unit, Regional Integration, Monetary cooperation

The free and open Indo-Pacific strategy and uncertainties for India & Japan

For more about the East-West Center, see http://www.eastwestcenter.org/Drs. Amitendu Palit and Shutaro Sano, Senior Research Fellow at the Institute of South Asian Studies, and Professor at the National Defense Academy of Japan, respectively, explain that "From the perspectives of both India and Japan, the Free and Open Indo-Pacific should remain a development-focused initiative.

Sri Lanka's Economic Crisis

10.25818/fmyq-5t741-12CSU Case Studies (Case Study Unit

India’s economic and strategic perceptions of China’s maritime silk road initiative

10.1080/14650045.2016.1274305Geopolitics222292-30