Have you tried buying or renting a house in Mumbai recently? If so, then I won’t be surprised if you think real estate prices are plain expensive, and incredibly so. But that’s almost always been the case in India’s commercial capital. After all, when was the last time someone told you they got a cheap house in the city?
from Summit Notebook:
On Monday, we kick-off the 2010 India Investment Summit. We'll have exclusive interviews in Mumbai and Bangalore. In 2006 we held the first Reuters India Investment Summit. It was my first time in India. I've had the privilege to return every year. How time flies. Here we are four years later. Some of the key players may have changed but the big, over-arching theme is still the same: Infrastructure. It's the key to realizing the country's potential but bureaucracy, tough financing and hesitant overseas investment have slowed development in the sector, calling into question the future of India as a powerhouse.
Two stories this week stand out as examples of how entrepreneurs in India are doing what the government and the private sector have largely failed to do.
from Photographers' Blog:
I first encountered the 52-year-old Maratha Mandir movie theater while I was on one of my walks to explore Mumbai. Being new to the city, I do this often. It was just a casual walk down the lanes of the city when I saw a huge billboard promoting a film outside the cinema. The billboard proudly advertised it as the longest-playing film in Indian history.
Almost a year and a half since the 2008 Mumbai attacks that killed 166 people, Ajmal Kasab, the lone gunman captured during the three-day rampage, has been sentenced to death by a special court.
Remember the issue of what to do with the corpses of the nine attackers killed during the November 2008 siege of the Taj Mahal Hotel and other targets in Mumbai that killed 166 people? The dead attackers were all presumed to be Pakistani Muslims, like the sole survivor, but local Indian Muslim leaders refused to let them be buried in their cemeteries. Islamabad ignored calls to take the bodies back. So they were left in morgue refrigerators in Mumbai, presumably until the issue was finally settled.