Economy
FDI: Heeding the China model
THE Union Commerce and Industry Minister, Mr Murasoli Maran, deftly combined industry and trade in his portfolio since his return to the Union Cabinet under the National Democratic Alliance (NDA) in 1999 from his earlier stint in the United Front Governm ent in 1997. In his first stint he held only the industry portfolio and now he is charged with the commerce and industry portfolios. But his zeal in roping in foreign direct inflows (FDI) of $10 billion first made in 1997 remains undimmed, though the act ual inflow was never half this set target. It is not fair to charge him with any willful lapse for not realising the target set barely four years ago as he himself was out of power for 18 months in the interregnum.

Editorial
Creepy move
THE SEBI DECISION to raise the limit for creeping acquisition from 5 per cent of the paid-up capital to 10 per cent is a setback to enhanced corporate control. This is the second round of easing up on the creeping acquisition limit in the past two years. Even when SEBI raised the limit from 2 per cent for a 12-month period to 5 per cent, the head of the SEBI committee on takeovers expressed reservations Now, SEBI has made things much easier for incumbent managements keen to have more leeway. Given the c urrent bearish phase in stock prices, they should be able to shore up their holdings at a low price.

Terrorism
Great Expectations
IN THE aftermath of the Black Tuesday, first, Mr Brijesh Mishra, the man for all seasons from our PMO, goes to the US. Not to be outdone, the country's Cabinet Minister with the drawl follows. Only, the purpose is not clear. It is OK, if their expectatio ns are limited to being shown into the office suite of one member or the other of the US State Department.

`Independent Kashmir not feasible' -- Syed Ali Shah Geelani, President, Jamaat-e-Islami
DETERMINING their fate through a referendum is the only way to solve the Kashmir problem, says the President of the Jamaat-e-Islami, Syed Ali Shah Geelani. In an interview to Business Line at his Srinagar home, three days before he was placed under house arrest, he discusses the disturbed political environment in Jammu and Kashmir and says an independent Kashmir is not feasible.

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