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Saturday, 14 May 2011

Corruption in India and its relationship to shipping & banking

Much is being made about how Indian politicians and others are terribly correct. Spot on, here are some simple numbers and links:-

What we are really up against is here, this is the one-page synopsis, a longer link can be found through it:-

In absolutely brief bearimg + distance, in India, it took, after 1947 Independence:-

#  60 years to steal 210 billion dollars from 1948-2008.
# 3 years to steal another 260 billion dollars from 2008-2011.

Do you and I think this is only corrupt Indians doing this by themselves, that there is no connection between this and the vast number of international banks as well as, pertaining to us Indians, the huge number of ships involved in shipping activities in and around India - even coastal shipping - which are working through tax havens? Here's how the banks do it:-

How, however, do they do it in shipping? For that, over the last few days, my head is hurting reading the vast volumes of information on how rules and regulations at our very own Directorate General of Shipping aka DGS were nicely tweaked to favour shipowners operating from tax havens AGAINST shipowners operating Indian flag and even shipowners operating known flags of repute.

Fascinating. But if the Red Government can come to an end after 34 years in Kolkata, then how long does this survive in Mumbai??

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