World Archives - Page 9 of 9 -

Opensource helps in solving Language difficulty

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According to wired.com, when the World Social Forum, was held in Mumbai where many delegates from other Asian countries participated, the multi-linguistic participants did not pose a problem, thanks to Open source. Babels the official interpreters (voluntary organisation) who were responsible for the interpretation of speeches, used Open source Linux software, which used mid range computers to do the interpretation (this is in contrast to using high-speed computers or translators which cost the earth!

According to the representative of Babels this is how the translator works “ there is a onscreen interface, which selects the language spoken by the speaker, the voice of the speaker is then digitalized, this processed voice is then transferred to the translator which translates the voice accordingly and provides the translated version through the headphone of the delegates” other than the amazing feat of converting the speech into more than eleven languages, including Korean and Bahasa Indonesia, the cost involved in the translation was very less than compared to earlier equipment and software. Many delegates attended the program, as they felt more involved. But apart from the positive aspect, the translation provided with lot of technical snags during the meeting. The bright spot being that since it was all recorded, it is available online for those who missed the meeting. So three cheers to open source Linux software for making the world smaller!

Source: 20, Jan 2004, www.wired.com

Floating rates

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Once again the central bank has urged all the major banks to follow a constant benchmark as far as the Prime Lending Rate is concerned with respect to the Floating loans by the Banks. This comes at the realisation that a common rate would enable transparent workings of all the Banks concerned. The PLR will be considered in calculating and should be a major factor while determining in the basic cost of funds, operational costs, reserve requirements and the capital adequacy ratio. The members however urged that different rates as far as retail credit or housing credit should be followed (these are the major factors determining credit market of the country). The uniform PLR would help in determining components involved in the Lending Rates, and a better control over the floating loans.

Source: www.economictimes.indiatimes.com

Indian Economy.

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Indian Economy is all set to grow by 5.5% by 2003-04 according to IMF sources. The heavy fiscal deficit and public debt has burdened the Indian economy, will little scope for a major increase in the growth scale. IMF was concerned that the Indian Budget has done little in terms of providing relief to the fiscal deficit. Being the second largest populous country in the world and its growth percent not much improved than that of the 90’s level is a concern for IMF. These concerns should be tackled effectively with the help of fiscal policy and a measure to decrease inflation rate, which is at present is around 4.5%. The Government hence must adopt measures to better the situation and decrease the fiscal deficit through various policies especially in the agricultural and industrial sector.

Bimal Jalan’s view

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Mr. Bimal Jalan, while giving one of his last speech as the RBI Governor of India, reitretated the fact that the foreign currency remittances in India, were more governed by the confidence in the Indian rupee than on any other factor. He is of the opinion that India is now having a fairly stable foreign currency exchange rate and the Domestic stock of bank deposits in rupees in India is currently close to $290 bn. He supported full capital account convertibility but was against the idea of residents converting domestic currency to foreign currency during time of crisis, saying this could lead to even greater crisis within the economy. Though he encouraged the residents to invest into profitable investments rather than keep their deposits idle.

Local languages to get a lift through e-governance

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e-governance may not be used in its full capacity in the near future, but the suggestion of e-governance itself leads to one question, what would be the medium of communication?

It is a accepted fact that only 5% of India’s total population know to read and write English. According to a survey conducted by Mr. Sapru of Frost and Sullivan, the Government must take necessary steps to convert all their initiatives in development of Information Technology sector to local languages. It is only by converting their medium of instruction and communication to the local language can e-governance can achieve marginal success. With introduction of the local languages in e-governance technology that one can see any improvement in the IT sector in India.

www.economictimes.indiatimes.com

How to make your brand known.

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As seen and heard, marketing an Indian Product abroad, requires a lot of patience and perseverance and above all that a good marketing strategy with good research activity. One should always go into depths of the research and find out what is that the people out there need and expect from India. India has a ‘developing economy’ tag to it which may make many people hesitant to buy goods from India, but with all these troubles there are still some brands which do good overseas. This is called as the brand building strategy. Once your quality is established, then there is no looking back. But in today scenario India has to compete with the likes of China, whose goods are flooding the market, even in India. What is it the strategy that Indians need to export? Indian companies need good backing up strategy with good investments and sponsors who are willing to come forward in activities that can add value to the products. This is important in any country. We would have all heard about the ‘Brand equity Fund’ developed by the Indian Government to help all those who would want to export abroad. The main reason for this fund is to get over the initial difficulties found in the marketing of the products abroad. But to get a loan the exporters must convince the bankers or investors about the need to export, the strategies they have adopted to market the product, further investment sources etc. This applies to all sorts of goods, consumer, technology based e.t.c., Therefore other than investment backing an exporter, a strong market condition with even stronger brand building strategies must be adopted. In my consecutive articles I will discuss about technology and knowledge transfer.

Source: Indian economic times

Exports increase in software sector

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The Electronic and computer software export council said in a statement that India’

S export of software products has been expected to grow to about 30% in dollar terms. The exports of software are expected to grow around 32-35% by 2003-04. Whereas in 2000-01, the export rose only about 28%. The hardware export is expected to grow only by 15-20% by 2003-04. Unlike software, hardware is not poised in a big way. With the software boom showing up in India, it is great news for the software industry as a whole, with the advent of many software companies who specialise in various types of projects, there is expectancy of increased growth in this sector. Well this may be the beginning of many good things. Let us keep our fingers crossed!

Source: www.economictimes.indiatimes.com

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