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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (488)	5/13/1998 10:23:00 AM
From: tom	Read Replies (1) \| Respond to of 12475

Here in London the Indian GDR market has gone through the floor. Almost every GDR is being offered at below the bid price. Expect further weakness in the equity and currency markets. By Masako Iijima NEW DELHI, May 13 (Reuters) - Anti-nuclear activists in India said on Wednesday they were disappointed by the euphoria over the country's nuclear tests and the lack of public awareness about the dangers of a nuclear arms race. India conducted three underground nuclear tests on Monday, triggering U.S. sanctions and widespread international criticism. It conducted two more tests on Wednesday. "It (nuclear awareness) does not touch the large masses," said Achin Vanaik, a nuclear analyst and co-author of "Testing Times: Global Stake in Nuclear Test Ban". "The people are influenced by media and political support... In this sense, the hysterical euphoria over the tests is depressing." An opinion poll carried in an Indian daily showed that 91 percent of urban Indians approved of the three underground nuclear tests carried out in western India on Monday. Since the first batch of tests, Prime Minister Atal Behari Vajpayee's Hindu nationalist-led administration and the scientists who made the tests possible have been showered with praise from both the Indian public and politicians. Environmentalist groups such as Greenpeace have been protesting outside Indian Embassies abroad in the wake of the tests, but most of India has gone about business as usual. "The tests were sudden and it will take time for opposition to emerge," said Anil Aggarwal, director of the non-governmental organisation, Centre for Science and Environment. "But the nuclear, military crisis is not the only crisis India is facing," he said. "Ecology, illiteracy, poverty are there and if the attention of the government is diverted away from these, then there will be a very big problem." Government think-tanks have said that living standards have been improving over the years, but about 35 percent of the population still lives in poverty. U.S. President Bill Clinton signed documents on Wednesday to impose sanctions on India while Japan suspended grant aid and cancelled a World Bank-sponsored meet in Tokyo on June 30 of India's aid donors. "We have confidence in the Indian people and the strength in the Indian economy that they will stand up to the unfortunate sanctions of a few countries," said Pramod Mahajan, political adviser to Prime Minister Atal Behari Vajpayee. India's National Alliance of People's Movements (NAPMS), which organises groups on social issues, said it was planning a demonstration in New Delhi on Friday to protest against the tests. Because of the overwhelming domestic support for the nuclear tests, potential protesters were hesitant in coming forward and putting together a rally was taking time, NAPMS convenor Vimal (eds: one name) said. "There are many people but it is a cyclone they stand against," he said. "We hope that many will come to (the protest). But even if there is only one person there, we think that a small candle in the darkness is more than enough."

To: Mohan Marette who wrote (488)	5/13/1998 10:25:00 AM
From: Nick	Respond to of 12475

You're absolutely right, Mohan. India is tired of the treatment it has been getting, and just can't afford to take in on the chin anymore.

To: Mohan Marette who wrote (488)	5/13/1998 10:43:00 AM
From: peter michaelson	Respond to of 12475

India always has been perhaps the most independent country in the world. Its independence movement was remarkable and unique. It has disdained foreign aid and multi-national infiltration. I have faith that nuclear weapons will not be used in an aggressive manner by India. India feels that it is surrounded by aggressive superpowers - the U.S. to the west (Pakistan) and China to the north, the U.S. Navy to the South et cetera. India has some very special qualities which may not be fully appreciated by the West, and while she does not wish to push her influence on others, she does want to maintain her full independence. The new government may be keen on re-affirming India's special qualities partly so that Indians themselves do not feel that the West is stronger and better. India can be special, independent and strong - or at least not a pushover. I know this sounds naive, but I think these feelings are a factor. Just my 2 cents thrown in the ring. Peter