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With so many cars flooding the market, can wars be far behind? Well, ask Maran
It is war. And it is official now. After the cola wars, it will be the car wars that will be fought on the home turf. And nobody knows it better than industry minister Murasoli Maran. Today, Maran acknowledged that he himself had "signed the declaration of war yesterday by launching the Telco small car."
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Beef up the BIFR to reduce bad loans
The problem of industrial sickness has become deeply entrenched with the number of sick units increasing dramatically by more than eleven-fold from 23,740 in June 1981 to 2,22,933 in March 1991 and further to 2,64,750 in March 1996. The amount of outstanding bank credit tied up in such units has also increased phenomenally from Rs 1,912 crore to Rs 13,748 crore over 1981-96.
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Triumph of vision
The unveiling of Ratan Tata's small car in Delhi's Auto Expo yesterday marks a watershed in the annals of Indian corporate history. It is not just another car, an event that could have been dismissed as a product launch. Rather it is the first attempt by an Indian businessman to come to grips with the challenges of globalisation in a technology-driven industry like cars.
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Establish currency boards now
A stock market that has crashed. A currency that hits new lows with each passing day. Panic buying of food. The threat of an economic and political collapse. Sounds familiar? The scene is not East Asia in 1998. Hong Kong had the same problems that Thailand, Malaysia, Indonesia, the Philippines and South Korea have today.
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