Semiconductor plants

Apropos ‘India’s semiconductor ambitions will be led by large players’ (March 3), India has the advantage of possessing a large number of skilled engineers required for chip desig ning. But there’s a need for semiconductor fabrication plants, which require large investments. In recent times, the world has been witnessing an intense battle for the control of the global semiconductor industry. Large industrial houses in India should join forces, rope in technology partners from countries like South Korea, Taiwan, etc., and establish semiconductor fabrication plants in India.

As India is starting late in chip manufacturing, the government should think in terms of establishing fabrication plants in public-private partnership, so that project implementation can be accelerated.

Kosaraju Chandramouli


Adani stocks in Nifty

This refers to ‘Needless to fret over Adani stocks in Nifty indices’ (March 3). The allegations of stock manipulation and fraud levelled against the Adani Group by Hindenburg Research are yet to be proved by any regulatory agency. The Supreme Court has now formed a panel to go into regulatory lapses and submit a report within two months.

As such it is hasty on the part of the so-called ‘experts’ to suggest removal of Adani stocks from stock market indices. What if it was found that the Hindenburg report was driven by the ulterior motive to make financial gains? It is alleged that the Adani Group is over-leveraged which had led to the company’s financial woes, and all efforts are being made to bring down its debt exposure with various financial institutions. This merely shows an imbalance in the capital structure. Though market capitalisation is considered the primary yardstick for inclusion in Nifty indices, the downside to it is that any calculated attack on the group without being backed by solid evidence leads to market volatility, clamouring for removal of shares from the Nifty indices.

Srinivasan Velamur


Probing regulatory lapses

This refers to ‘SC panel to probe regulatory lapses leading to market crash’ (March 3). It actually defies logic to set up a panel and the same day ask market regulator SEBI to conduct an independent probe. And both have been given a timeframe of two months to complete their report. There is no doubt that the findings by the panel and SEBI will calm a lot of nerves as truth will see the light of day. However, SEBI should have been allowed first to share its findings with the apex court, and only if they were not satisfactory the panel should have been formed.

Bal Govind


Jan Vishwas initiative

Apropos ‘Civilised compliance’ (March 3), productivity and economic growth invariably depend on the ease of doing business and the proposed Jan Vishwas Bill, which aims at decriminalising the compliance burden of business entities, would further assist in this. The present regulatory framework is designed in such a way that any non-compliance would attract punitive measures in the form of fines beside imprisonment of the individual concerned. This may deny opportunity to the person to re-establish and permanently impair the business culture.

The new initiative will be effective only when the drudgery involved in paperwork, sourcing specific requirements and submissions are properly addressed, by creating an automated common platform.

Sitaram Popuri