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from India Insight:

Stamp collecting stages quiet comeback in India’s digital era

Rajjesh Mittal spends 20 minutes each morning placing bids for postage stamps on eBay. The IT entrepreneur began flirting with philately, or stamp collecting, two years ago, and has become such an ardent collector that he wants to demonstrate his love for postage by getting a tattoo of independent India’s first commemorative postmark.

Mittal is part of a generation of urban, educated Indians celebrating all things postal in the age of e-mail and Twitter. Though numbers are hard to come by, philately appears to be staging a revival in India, with estimates ranging from 25,000 to over 100,000 active collectors. Like Mittal, working professionals are taking up the hobby, joining stamp-collecting clubs and fostering friendships with enthusiasts from all walks of life.

“I want to have fun with philately,” says Mittal, 41, who helped found the Philatelic Society of Delhi and is working on three books on the hobby. “My wife hates it. The money which I spend, I have to give her equivalent money … It’s another thing I don’t give her the exact numbers.”

The embossed 19th-century issues of the Scinde Dawk, valid for postage in the British Indian province of Sindh, were the first Indian stamps. Four stamps featuring Queen Victoria were released in 1854 and were the first to be used across India. The stamps of British India and princely states, issued until India’s independence in 1947, constitute the classical period of Indian philately and collectors prize them.

from India Insight:

Interview: Chidambaram on Modi, Rahul Gandhi and becoming PM

By John Chalmers, Frank Jack Daniel and Manoj Kumar

(This article is website-exclusive and cannot be reproduced without permission)

P. Chidambaram, now in his third stint as finance minister, spoke to Reuters about Narendra Modi and the 2014 elections in an interview on Monday ahead of a trip to the United States. Here are edited excerpts from the interview:

If Congress returns to power in the elections next year and Rahul Gandhi is the prime minister, do you see yourself as finance minister?
That’s a question you should put to the prime minister. I am glad you acknowledge Prime Minister Rahul Gandhi but that is a question you should put to him.

from India Insight:

Interview: Chidambaram on the state of India’s economy

By John Chalmers, Frank Jack Daniel and Manoj Kumar

(This article is website-exclusive and cannot be reproduced without permission)

The Indian government will have to rein in spending and cut subsidies to meet its fiscal deficit target, Finance Minister P. Chidambaram said on Monday, underlining that an austerity drive will not be blown off course by an election due next year.

The urbane Harvard-educated lawyer, now in his third stint as finance minister, spoke to Reuters in an interview ahead of a trip to the United States. Here are edited excerpts from the interview:

from Breakingviews:

Tyremakers’ takeover spat faces high toll

By Una Galani

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

Apollo Tyres’ spat with its U.S. target could face a high toll. The Indian firm wants to renegotiate its $2.5 billion takeover of Cooper Tire & Rubber following protracted disputes with workers in the United States and China. Cooper has gone to court to force its suitor to pay up. In this fight, a compromise looks like the least bad outcome.

from Expert Zone:

SEBI tries to get it REIT again

(Any opinions expressed here are those of the author and not of Thomson Reuters)

Ease of funding is a key recommendation for the growth and development of the Indian realty sector in the coming decade. New instruments of funding should be allowed into the sector, especially real estate investment trusts (REITs) -- an investment mechanism that buys income-generating real estate assets and passes on the yield to investors.

In this current climate of dwindling investor sentiment and a plunging rupee, there is a need to implement funding options such as REITs for infusing much needed liquidity into the sector. The total REIT market size in the Asia-Pacific region is approximately $205 billion but India has been unable to take advantage of this funding opportunity, mainly because of the lack of an existing regulatory framework.

from India Insight:

Modi, Kejriwal become latest video game characters as developers focus on elections

Politicians are becoming the Super Mario Brothers equivalent for Indian video gamers as 2014 election fever starts to settle over the country.

Software developers have been developing all kinds of new games and apps in recent years as Indians increasingly shift to smartphones of companies such as Samsung, Apple, Micromax and Karbonn. Now politics has crept into the mix.

from The Human Impact:

India’s surrogacy tourism: exploitation or empowerment?

In a globalised world where everything at home is becoming more costly, outsourcing your needs to a third party thousands of miles away for less money makes a lot of sense.

For a country like India, one of the top global destinations for outsourcing, the benefits are tremendous – creating millions of jobs in sectors ranging from garment, software and car manufacturing to call centres and back office operations.

from India Insight:

Woody Allen stops “Blue Jasmine” India release because of anti-tobacco ads

(We have updated this post with a statement from Allen's publicist)

Woody Allen's latest movie "Blue Jasmine" will not debut in India this weekend after the filmmaker objected to anti-tobacco ads that the Indian government requires cinemas to play before and during movies that feature scenes with characters smoking.

Allen refused to make "customisations" in the film to accommodate the ads, which led to distributor PVR Pictures cancelling the release, said two sources familiar with the matter. Both sources declined to comment because they were not authorized to talk about it with journalists.

from India Insight:

Wedding photographers in India beat economic gloom

Rising costs and a slowing economy haven't darkened the mood of wedding photographers in India. More couples than ever are willing to spend thousands of rupees on photo albums, pre-wedding shoots and videos, allowing photographers to take a bigger slice of India's $30 billion weddings business.

“People are willing to spend more money now compared to what they were spending three years back," said Delhi-based photographer Vijay Tonk, who charges around 100,000 rupees for clicking pictures at a two-day function, 10 times more than what he charged in 2010. "It’s a status symbol now to spend money and have good (pictures).”

from India Insight:

Meet Prakash Tilokani, the man who clicks India’s rich and famous

When Prakash Tilokani started taking pictures at the age of 16, he had no clue that one day he would be the man behind the lens at India Inc's weddings.

From selling pictures at 20 rupees (32 cents) each in 1984 to charging at least 300,000 rupees ($4,800) for a day now, it’s been an eventful journey for 47-year-old Tilokani, one of India’s most famous wedding photographers.

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