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Why is Kamal Nath dragging the nation into a European steel battle? Updates


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Daily Mail
Digression
1
Mar 13, 2006
The Colour Of Money
For once, I agree with Prem Shankar Jha (Mittal’s Merry Piper, Feb 27). What business does GoI have supporting a private mnc? Kamal Nath better heed farmers’ problems.
M.S. Hemanth, Bangalore

The Indian intervention for Mittal was primarily in response to borderline racist comments coming from people in responsible positions in governments and corporations of stakeholders. Nobody minds a reaction, positive or negative, based on genuine business concerns but to question Mittal’s origins is underhanded. If the government of India doesn’t take note of it, tell me, who would?
P.K. Raju, Woodbridge, US
Order by HAVE YOUR SAY
1/D-7
Feb 18, 2006
12:01 AM
Why not Mr Jha? Anyway who follows market rule. Else you would not have a scenario where more than half the EU budget goes towards subsidising agriculture. SO we have a starnge situation where the EU ends up exporting sugar to poor African countries by artificially keeping the prices of sugar down.
If India has the muscle it should learn how to flex it. There is no such thing as free market economy.
Rajeev
Delhi, India
2/D-6
Feb 20, 2006
12:02 AM
Because we are living in the age of "Global Village", where no body is left out
unaffected.

-------------------------
Wh
y is Kamal Nath dragging the nation into a European steel battle
-------------------------
RSK
LA, United States
3/D-9
Feb 20, 2006
12:03 AM
Fo once I agree with Mr. Prem Shankar Jha. I think he is spot on.
Navdeep Hans
Delhi, India
4/D-12
Feb 20, 2006
12:04 AM
There is no doubt that Mr Laxmi Mittal had gone to England in 1972 and that his Company Mittal Steel is based in Rotterdam and mangaged out of England but the fact remains that Mr Laxmi Mittal is an Indian and the rejection of bid by a Company Mangaged by him should not be allowed to be rejected on the basis of Racial grounds.There can be some other reasons for the Arcelor to reject its Bid.Arcelor itself , after initial resistance ,they seem to be coming up with contradictory arguments like , the bid is undervalued, the shareholders are more benefitted in Arcelor.This being so the raising of dividend by 85% this year to 1.20 Euro per share from 0.65 Euro per share on 16th Feb raises eyebrow as to what has suddenly made them so careful about shareholders.Even the European Union also had to comment that racial discrimination should be avoided.While in India we are promoting more and more FDI in various Sectors.And while some IT and Pharma Giants are going for acquisitions abroad for the purpose of backward integration or Diversification, The foreign Companies are now going in for Delisting and acquiring 100% stake in India why this Bid should be prevented only on the ground that his Company is based in Rotterdam.Let this again be decided on commercial considerations , shareholder s benefits and the future of the Employees.When there has been objections from the governments of France, Luxembourg and Spain then why should not Indian Government support it?
PPS CHAWLA
Indore, India
5/D-15
Feb 21, 2006
12:05 AM
The reason he is doing it is because of India's new found confidence on the world stage.Kamal Nath seems to have realized that the world is looking at India as a new economic power of the future and thus he can make his views known. He knows that it will be atleast heard even though his zeal seems to be misplaced.Who knows, knowing our venal politicians, I wouldn't be surprised if Kamal Nath was receiving "monetary favours" from the Mittals for shooting his mouth off.
Prithijit Ray
chicago, usa
6/D-4
Feb 22, 2006
12:06 AM
For the first time I seem to be in agreement with Prem Shankar Jha. Very well asked.. What business does GOI has supporting a private MNC. (If Mittal was arrested illegally.. then GOI interference is more than welcome) but Mittal's business in Europe is none of GOI's business.
Kamalnath should better tend to poor farmers problems.
Hemanth
bangalore, india
7/D-5
Feb 22, 2006
12:07 AM
In my view the so called Indian intervention was primarily in response to border-line racist comments comming from people holding responsible positions in the governments and corporations of stakeholders. Nobody minds a reaction positive or otherwise based on genuine business concerns but to question the origins of Mittal is underhanded. If the government of India doesnt take note of it, I am not sure who would.
Already we have seen that the conversation or lack of it has become quite civil and hence I thing the Indian governments participation in all of this has so far had positive impact.
It remains to be seen what the future holds.
kris
woodbridge, usa
8/D-7
Feb 22, 2006
12:08 AM
well said Mr.Jha. Already Mittal Steel is the highest producer of steel so why should anyone care if he acquires Arcelor or not. Like you pointed out the company itself is British. Maybe Mittal too is a British citizen I dont know. Even though his is a public limited company a large part of share is owned by him and his family alone. He has the priciest house in Britain. Governments I think should always think in terms of interests of larger number of its people. How does Mittal's takeover help a lot of Indians? Anyhow I think we have a lot more issues in India. Someone rightly pointed out the plight of farmers in India. Kamal Nath do you know what the main role of commerce minister is? It is to highlight India's opinion in WTO talks and convince the West esply. Europe to lower the farm subsidies so that we have a level playing field. Reg. what Kamal Nath said, maybe there was "pressure" from Mittal Steel to the govt. or maybe Kamal Nath got orders from "higher-ups" to say something like this. With the Congress party things are always obfuscated and you never know who is finally responsible for what?
ARVIND
ROCHESTER, United States
9/D-8
Feb 22, 2006
12:09 AM
Kamal Nath is right in taking up the case of Mr.Mittal. Mr.Mittal is an INDIAN NATIONAL - and if the Indian government does not learn to assert itself in the global arena, particularly in response to a covert racial attack, we all stand to lose. As usual Mr.Jha is wide off the mark and betrays his outdated ghandi style kangresi thinking. The Indian government should stand up for Indians wherever they are.
Adi
XXXXX, USA
10/D-11
Feb 22, 2006
12:10 AM
mittal is a british citizen, he has categorically stated that his identity is essentially british in nature, he has set up all his plants in non-indian lands.
nothing of the above is wrong
what is wrong is the clamouring in the media to take up this cause as a hurt indian. He is a super rich guy, he became rich while in britain (thus nullifying racist charges, for if racism was issue, how would he have risen, morons?). he is definitely rich and powerful enough to handle this himself. there are more important issues indians can take up, and not be misguided by concerns of NRIs, who left the shores of india. This very much includes me...since ive left the shores, as of now, i dont expect "support" from indian govt, even though i am indian citizen...to avail that, either i have to be back in india, or help it in someway. Untill then, i choose, not to be a hypocrate!
nits
nashville, USA
11/D-13
Feb 22, 2006
12:11 AM
Kamal Nath wouldnt do such a thing on his own. Perhaps he is acting on a nod from Janpath. Which in turn might be a return of favour for party funds...Mittal also makes steel....:-)
Narayan Singh
Delhi, India
12/D-15
Feb 22, 2006
12:12 AM
i am sorry, in the last post first para should read...
mittal is not a brit citizen, but has stated .....
nits
nashville, USA
13/D-16
Feb 22, 2006
12:13 AM
==> Adi,

Kamal Nath has no right to be dragging India into Mittal controversy. Mittal is a British citizen and his company is a British company. He is bidding for Arcelor from Britain as a British citizen. Just because he is a person of Indian origin doesn't mean that we have to be fighting his battle. The same would be akin to Italy intervening on behalf of Sonia Gandhi just because she is of Italian origin.

Kamal Nath's overeagerness I feel has more to do with maybe Mittal's contribution to Congress party funds.
Navdeep Hans
Delhi, India
14/D-19
Feb 22, 2006
12:14 AM
Navdeep - Kamal Nath has no right to be dragging India into Mittal controversy. Mittal is a British citizen and his company is a British company. He is bidding for Arcelor from Britain as a British citizen.

Mittal still carries his Indian passport and is an Indian citizen.. not just a person of indian origin. He made it clear in all his interviews to media recently in India. So indian government can intervene to suport him

Think the larger issue here is the double standards of europeans in talking about free markets and globalisation.. French MNCs like Holcim and LAfarge acquire huge comapnies in India routinely but if Mittal makes a bid , then they talk about european culture, monkey money etc. Some of the statements by arecelor and europeans politicians are outright racist.

A takeover bid should be judged by its merits alone , and not by racist remarks or by the color of the skin of the bidder. The french seem to be more worried by mittals skin colour than the merits of his bid.

shankar
shankar
Mumbai, India
15/D-21
Feb 22, 2006
12:15 AM
Another example of the lack of sophistication of Indian politicians.
If Mittal Steel is not an Indian company, it should not be any concern of the GOI to interfere in this matter, merely because the head of the company is of Indian origin. There is no doubt that more than a tinge of racism is present in the reactions of EU governments and of Acelor itself - there is a history of racial arrogance in Europe. However, Mittal is a big boy and surely can take care of himself without the misplaced intervention of the GOI.
I only hope that the GOI shows this sort of backbone when it really matters and where it has generally been absent.
Rustam Roy
London, UK
16/D-23
Feb 22, 2006
12:16 AM
Kamalnath is unnecessarily dragging India into this matter, even if it has to do something with racism, one must not forget his or atleast his post's responsbilities. No point in showing your disgust and power in someones else tussle, Mittal has built his empire without any help from anyone, and we as Indians wish him good luck, but it has nothing to do with GOI. There are other issues which needs our ministers attention at this time for betterment of our own citizens as well as our companies.
Abhishek
Gandhinagar, India
17/D-24
Feb 22, 2006
12:17 AM
Well,
The way I feel about this, if an illiterate Italian national with no interest in Indian citizenship can be elected the PM of India, the same India can at least show some spine in backing one of their own.
B.T.W, Mittal IS an Indian Citizen.
Adi
XXXXX, USA
18/D-26
Feb 22, 2006
12:18 AM
kamal nath, why dont you stand up for jessica lall's father? why not stand up for shibani mattu's family, (the girl was raped and murdered by IPS officers son, who is now a "respectable" lawyer in delhi(sic), why dont you stand up for milions of poor indians who go to bed hungry, or stand up for poor street children beggin in traffic lights? ..the list is endless.
instead you chose to stand up for a foreign settled, third richest man in the world, someone with all his business interests located outside india! shame on you kamal nath, shame on you. and shame on people who make this an issue.
nits
nashville, USA
19/D-27
Feb 22, 2006
12:19 AM
Good luck to Mittal. However I deplore his
utter lack of proprietary in wasteing money on marriages etc, when he could give a helping hand to the large number of poor kids in India.

I have been in Delhi now for a few weeks, and am disgusted at the situation of poor kids on the streets.

I certainly will not waste my time lobbying for people who are on a solo trip for wealth, without consideration to the less fortunate.
And that goes also for the Chattwall wedding.
Simply tasteless, vulgar show of wealth.
lalit bagai
kalundborg, Brazil
20/D-32
Feb 23, 2006
12:20 AM
What business has GOI got to protest to Denmark about Islamic cartoons? It was an issue between Denmark govt., it's media and the people. Yet GOI did. So, what's wrong in taking up Mittal's issue? This country is stupid enough to accept a foreigner as it's leader but it cannot stand behind an Indian who just seem to have a different passport.

Lord Ram's photos were printed on toilet tissues for over an year in France and at this time the manufacturer continous to print them despite protests from Hindu community. Why didn't the Indian govt. take up the issue with France then? India should have taken up this issue and ignored the Islamic cartoons issue for the reason that India is the last bastion of Hindus on this planet and their interests needs to be protected any cost. As for mullahs, they have many islamic terrorist regimes all over the world to protest the cartoons.
Venkatesh
IL, United States
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