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Officials and business leaders meeting in New Delhi could not have asked for more auspicious news as they gathered last week for the World Economic Forum's annual India Economic Summit. While the three-day event was in progress, the Bombay Stock Exchange's Sensex index hit all-time highs. That milestone was followed by the cheering news that the Indian economy grew at an 8% rate during the quarter ending Sept. 30, underscoring once-moribund India's claim to being the fastest-growing free-market democracy in the world...

Author: /time Magazine | Title: India's Real Growth Rate | 12/12/2005 | See Source »

...There's a reason, however, that the boast requires qualifiers. Undemocratic, not-so-free-market China continues to set the economic pace with GDP growth exceeding 9%?a fact that seemed to dampen enthusiasm in New Delhi in the face of otherwise encouraging circumstances. In Asia, "China is clearly the leader of the flock," conceded India's Finance Minister Palaniappan Chidambaram. "India is still just part of the flock." That chronic inferiority complex is rooted in industrial policy envy. China maintains a big advantage over India in sectors such as manufacturing, said Chidambaram, because its central government dictates "with brutal...

Author: /time Magazine | Title: India's Real Growth Rate | 12/12/2005 | See Source »

...winners of the Nobel Prize in Physics, half of which Mallinckrodt Professor of Physics Roy J. Glauber ’45-’46 won for his contributions to quantum optics.Led by Ranjit Nair, the director of the Centre for Philosophy and Foundations of Science in New Delhi, India, the authors of the petition contend that E. C. George Sudarshan, professor of physics at the University of Texas at Austin, should have been recognized along with Glauber.Sudarshan is president of the Board of Advisors of the Centre, a role that Nair described in an e-mail...

Author: By Lulu Zhou, CRIMSON STAFF WRITER | Title: Scientists Question Nobel | 12/6/2005 | See Source »

...this year. Bhargava shared the pot with two other reclusive co-owners: a Net pornographer named Ruth Parasol, who switched from carnality to cards in the late 1990s, and Anurag Dikshit, an Indian software whiz whom Bhargava met when both were students at the Indian Institute of Technology in Delhi. They are not three of a kind, but they did cash out about one-fifth of the company. "Poker became a monster," says Bhargava, who sold stock worth $210 million and still retains almost 9% of the firm's equity...

Author: /time Magazine | Title: Investing: How the U.S. Is Getting Beat in Online Gambling | 11/20/2005 | See Source »

...PartyGaming's Bhargava, the world could hardly look more different from six years ago, when he took a blind leap and joined the company. After his studies in Delhi in the early 1990s, and business school, he worked at Bank of America and British Gas before heading to Mexico for a change of scenery. On a whim, he e-mailed his former college friend Dikshit, who, it turned out, had just set up a software company and was trying to develop a gaming start-up for Parasol, a lawyer by training. Parasol's history has filled the pages of British...

Author: /time Magazine | Title: Investing: How the U.S. Is Getting Beat in Online Gambling | 11/20/2005 | See Source »

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