No reason to panic
If the state of markets at the start of 2011 is any indication, the See-saw Sensex (BT cover, March 6) may continue in that mode throughout the year. But there is no need to panic. For the long-term investor, these ups and downs do not matter much. The small investor is still hesitant to invest in equity, finding it safer to invest in MFs, banks, insurance, land and gold instead. The government, rather than getting worried, should bring about reforms that will remove the irritants that remain in the flow of foreign funds.
Jacob Sahayam, Thiruvananthapuram
Azim Premji's Plan
On the face of it, the top-level management changes at Wipro were an attempt by Azim Premji to revive the sagging fortunes of his company (BT, February 6). But at a deeper level, the exercise brought out Premji's lack of trust in his CEOs and implied an attempt by him to ensure a smooth changeover for his son Rishab, the heir apparent, in the near future. Otherwise, why else would he be designated as Chief Strategic Officer? Let us hope the heir apparent will help Premji in the revival of Wipro.
S.R. Gadicherla, Bangalore
This refers to The Other End of the Spectrum (BT, March 6). Perambalur's District Collector is right about lack of industrial job creation, forcing people to take up menial jobs. While schemes like MGNREGA do provide some relief to the needy, only long-term industrial jobs can usher in sustainable employment. Our MPs and MLAs, therefore, should strive to bring industry to their constituencies, so that real employment can be generated.
Bal Govind, Noida
Necessity is the Mother of Innovation (BT, March 6) vividly covered the outcome of the brainstorming session. The task of innovation must go beyond the realm of IT industry to extend stiff resistance to the worldwide players. The global thrust on innovation and the changing face of competition are yet to be fully seized by the Indian companies barring a few.
B. Rajasekaran, Bangalore