1-2-3, What's the deal?

The media talking point over last couple of days- the Indo US nuke deal is made more mystical than it really is. I wonder why people responsible for removing the clutter and crisply communicating the nuances of the deal are happy letting the pandemonium continue. The framework deal, called the 123 agreement after a section of the U.S. Atomic Energy Act, has rocked both the democracies engaged in it. Leftists in India, are busy with a dogged search for a political plank/agenda within the issue. Even if there were one, it could be unraveled only after reading and understanding the deal in totality.

The leftist objections about passing on leverage over India's foreign policy to US, seem misplaced and far from reality. Yesterday I was watching a news channel and it was appalling to find many parliamentarians oblivious of what actual the deal is and its implications. Unfortunately, the text which has been made public a few days back, has attracted more rhetoric than critique. So much for much talked about largest democracy. The Communist Party of India (Marxist) (CPM)'s website parrots its opposition but does not enlist what are the specific issues it has over the deal.

Some facts-

1. India has 14 reactors in commercial operation and nine under construction
2. Nuclear power supplies about 3% of India's electricity
3. By 2050, nuclear power is expected to provide 25% of the country's electricity
4. India has limited coal and uranium reserves
5. Its huge thorium reserves - about 25% of the world's total - are expected to fuel its nuclear power programme long-term

Source: Uranium Information, BBC

Since economic liberalization on 1991, Indian economy and consequently industry breathed a new lease of life. Securing energy, the backbone to economy, obviously is the top most priority of Indian Government. What India needs most urgently is public infrastructure and Energy, which Industry recognizes and hence has come out in open to support the deal.

The deal guarantees India fuel supplies for its civilian programme, and allows it to reprocess spent fuel. The debate over strategic compromise is ridiculous as well. Reuters say-

"
The pact has to be approved by Congress, while India needs to get clearances from the Nuclear Suppliers Group of nations that govern global civilian nuclear trade and also conclude an agreement to place its civilian reactors under U.N. safeguards.

"The United States will support an Indian effort to develop a strategic reserve of nuclear fuel to guard against any disruption of supply over the lifetime of India's reactors," the text said.

If despite these arrangements fuel supply is disrupted, the two countries would jointly convene a group of friendly supplier countries such as Russia, France and Britain to restore supplies to India, it said.

While both countries would have the right to end the pact with a year's advance notice and demand the return of fuel and equipment transferred, "the two parties recognize that exercising the right of return would have profound implications for their relations", the agreement said.

In what Indian officials said was an indirect reference to a future Indian nuclear test, the pact said the two sides had agreed to take into account whether "circumstances that may lead to termination" resulted from a "changed security environment" or "a response to similar actions by other states".

In other words, if Pakistan or China conducted nuclear tests, the U.S. would take that into account if Indian responded.

"
Pakistan seems as confused as the left parties on the deal. Pakistan has warned that the accord threatens regional stability, saying it would allow its arch rival to produce more atomic bombs. I would not find fault with their apprehension as it is stemming out of years of mistrust and misadventures. The deal has taken already 2 years since originally proposed during 2005 visit of Dr.Manmohan Singh to US. It may take a couple of more months for all parties involved to understand the intent and the construct of the deal and how it serves strategic purposes. In many ways, the agreement which will last for at least 40 years, is attempting to reverse 30 years of cold war time adversarial relationship between India and US. Truely, if and when it goes through historic milestone will be created.

All New Look for Term III

That's right! As I get ready for the next half of MBA life, I said let me get a new look... for my face as well as for my blog....

And before I realized, the week long break disappeared. I am off to Ahmedabad tomorrow; term III will begin on 27th Aug. I chose 3 electives for term III out of a selection of 19 options. We have to make up a total of 2.4 credits or 60 sessions. Since I am looking at FMCG and Retail industries as my key focus areas post MBA, I opted for Retail Management as one of the electives. The Prof who will be teaching entrepreneurship is gawd level and hence this course as well; besides it fits into my long term scheme of things. And finally Strategic B2B, again because it falls into my key focus group - Marketing and the prof is rated pretty high. So, you would have noticed electives decisions are influenced by the quality of prof... that's one learning I had from two terms at IIMA.

So, tomorrow I gonna carry tons of book from PGPX office (for term III) for starting prep for Monday's classes... here we go.

Bonsai Manager

Mr R GopalaKrishnan, Exec Director Tata Sons was on the campus during the first week of August. He interacted with the PGPX class for half a day and also spent time talking about developing intuitions as managers and how we can use it for making effective decisions. He being a great believer in role of intuitions in management, pour in all his experiences into his maiden work, "The case of the Bonsai Manager". Gopal uses his deep understanding of nature in driving home his point and he has been absolutely brilliant at that.

I was particularly impressed by this man's thought process and articulation skills. He held the class captivated for about 2 hours, as he took us through his learning from stint at Levers and now at Tata Sons.

His brother R. Srinivasan is another wizard (I've heard him a couple of times - even this man is a great thinker and orator) but works for another Indian giant ITC. Looks like getting big, runs in the family !

T-Nite and end of Term II

Last 3 weeks have been perhaps the most hectic times since the MBA grind has begun. First it was T-Nite and then the last week grind of term II and finally the exams. Phew ! it has been a physically and mentally sapping stretch.

T-Nite (for those of you, who wouldn't know of this IIMA tradition) is short for talent nite. All the incoming freshers exhibit their talent in this 4.5 days marathon that calls for extreme planning, coordination, high talent levels and more importantly class camaraderie. The 4 PGP sections and PGPX class compete; leaving the whole campus on a cultural frenzy. Interestingly, only towards the end, one discovers there are no loosers; as everyone discovers new ways of relating and bonding with their classmates. Class X is supported with the 25 odd spouses on the campus who have rocked as well as class X. In fact, they have proved why they are called better halves! Class X surprised everyone (as it did last year) and ran the favorite after the second day. In the end, we ended up second but we are happy to discover our elements and live those glorious moments to the fullest.

T-Nite took its toll on most of us - some with bad throats (the cheers leaders), many with viral fevers and other pains which I would like to avoid talking here ;) Unfortunately, nothing seems to stop the academic grind at IIMA; we realised this as we went along... came back after t-nites and worked on submissions for the next day!

Before we recovered from the ailments exams were staring in deeply. One after another, for 8 days and the ordeal was done finally on 17th Aug with the last submission. What a way to end term II!

Finally, we all have hit our home towns for a well deserved break. I could also catch up on my blogging... expect more rambling during next week :)

Presenting Class of 2008...

Class X's profile book is ready and will soon be available on IIMA's website. Get an early peek from here.

It is a week long break for us now between terms II & III. I am chilling out in Hyd and hopefully blog as often as I wish ;)

Cheers.

PS: Some people have asked me for profile book of Class of 2007. Here it is.