A historic moment for India as NSG gives it the nod

In a historic moment that ended more than three decades of nuclear isolation for India, the 45-nation
Nuclear Suppliers Group Saturday rewrote their guidelines to resume global nuclear trade with New Delhi.
The NSG’s decision to grant India a clean waiver from its existing rules, which forbid nuclear trade with a country which has not
signed the Nuclear Non-Proliferation Treaty (NPT), came Saturday afternoon after three days of intense diplomacy by the US
and India in the nuclear cartel that controls the global flow of nuclear fuel and technologies.
The nuclear deal is now headed for the US Congress, which meets September 8 to discuss an approval for the 123 India-US
bilateral agreement which will bring the landmark nuclear deal to its closure over three years after it was first conceptualised.
The two countries are expected to formally sign the bilateral pact, likely when Manmohan Singh goes to Washington towards
the end of September, that will restore nuclear trade with the US after a gap of 34 years.
Economic sanctions were imposed by the US and the rest of the world when India first conducted its nuclear test in 1974.
The NSG’s waiver also frees India to sign bilateral civil nuclear cooperation agreements with France and Russia, leading
advocates of the nuclear deal, who also used their clout to win over sceptics in the nuclear cartel.
Prime Minister Manmohan Singh is set to sign bilateral civil nuclear cooperation with France when he goes to Paris for bilateral
talks Sep 30 after attending the India-EU summit in the coastal resort town of Marseilles.
The bilateral civil nuclear cooperation agreement with Russia, which was finalized last year and iniatialled early this year, will
be signed when Russian President Dmitry Medvedev comes to New Delhi in November this year.
The NSG had extended their two-day meeting in Vienna Friday by another day after marathon negotiations that went well past
midnight failed to bring sceptics around to back the nuclear deal.
Some sceptics in the nuclear club like Austria, Ireland and New Zealand, known for their hardline non-proliferation stance,
resisted till the last minute appeals by the US to accommodate India inside the global non-proliferation tent.
Austria and New Zealand, which were also supported by Norway, Switzerland, the Netherlands and Switzerland, had insisted
that provisions be included in the draft on the proposed waiver that will allow NSG to terminate nuclear business with India if it
conducted another test.
India’s External Affairs Minister Pranab Mukherjee’s statement Thursday re-affirming New Delhi’s commitment to a ‘voluntary
moratorium’ on future testing boosted India’s case in the NSG and was praised as ‘very significant’ by NSG.
‘This is a very significant statement which was discussed by members of the NSG and praised and welcomed by those in
attendance,’ US Assistant Secretary for Arms Control and International Security Affairs John Rood told reporters at the end of
the of Friday’s morning session of the NSG.
He added: ‘On the basis of this a positive momentum has been generated in the discussion and as I said before we remain
committed to achieving the objective and remain optimistic that we can achieve that.’
‘We remain committed to a voluntary, unilateral moratorium on nuclear testing. We do not subscribe to any arms race, including
a nuclear arms race,’ Mukherjee said in his statement issued in New Delhi before the NSG met for the second day in Vienna.
The minister’s statement and the existing guideline in the NSG that provides for termination of commerce with a country that
violates the rules and conducts a test were highlighted during Friday’s discussions among the members to convince the
sceptics who are opposed to a ‘clean waiver’ for India.
However, in the end the US’ arguments about the merits of accommodating India, the world’s most populous democracy and a
rising economy, in the global non-proliferation order prevailed. Washington also managed to convince sceptics about India’s
impeccable record in non-proliferation and how making an exception for India will be a net gain for the global non-proliferation regime.

Chronology of India’s nuclear journey

Following is the chronology of some key developments related to the landmark Indo-US nuclear deal:
1968: India refuses to sign the Nuclear Nonproliferation Treaty (NPT) on the grounds that it is discriminatory.
May 18, 1974: India conducts its first nuclear test.
March 10, 1978: US President Jimmy Carter signs the Nuclear Non-Proliferation Act, following which US
ceases exporting nuclear assistance to India.
May 11-13, 1998: India tests five underground nuclear tests.
July 18, 2005: US President George W Bush and Prime Minister Manmohan Singh first announce their intention
to enter into a nuclear agreement in Washington.
March 1, 2006: Bush visits India for the first time. March 3, 2006: Bush and Singh issue a joint statement on
their growing strategic partnership, emphasising their agreement on civil nuclear cooperation.
July 26, 2006: The US House of Representatives passes the ‘Henry J Hyde United States-India Peaceful
Atomic Energy Cooperation Act of 2006,’ which stipulates that Washington will cooperate with New Delhi on
nuclear issues and exempt it from signing the Nonproliferation Treaty.
July 28, 2006: The Left parties demand threadbare discussion on the issue in Parliament.
November 16, 2006: The US Senate passes the ‘United States-India Peaceful Atomic Energy Cooperation and
US Additional Protocol Implementation Act’ to “exempt from certain requirements of the Atomic Energy Act of
1954 United States exports of nuclear materials, equipment, and technology to India.”
December 18, 2006: President Bush signs into law congressional legislation on Indian atomic energy.
July 27, 2007: Negotiations on a bilateral agreement between the United States and India conclude.
Aug 3, 2007: The text of the ‘Agreement for Cooperation between the Government of the United States of
America and the Government of India concerning peaceful uses of nuclear energy’ (123 Agreement) is released
by both governments.
Aug 13, 2007: Prime Minister Manmohan Singh makes a suo motu statement on the deal in Parliament.
Aug 17, 2007: CPI(M) General Secretary Prakash Karat says the ‘honeymoon (with government) may be over
but the marriage can go on’.
Sept 4, 2007: UPA-Left committee to discuss nuclear deal set up.
Feb 25, 2008: Left parties say the UPA would have to choose between the deal and its government’s stability.
March 3, 2008: Left parties warn of ‘serious consequences’ if the nuclear deal is operationalised.
March 6, 2008: Left parties set a deadline asking the government to make it clear by March 15 whether it
intended to proceed with the nuclear deal or drop it.
March 7, 2008: CPI writes to the Prime Minister, warns of withdrawal of support if government goes ahead
with the deal.
March 14, 2008: CPI(M) says the Left parties will not be responsible if the government falls over the nuclear
deal.
April 23, 2008: Government says it will seek the sense of the House on the 123 Agreement before it is taken up for ratification by the American Congress.
June 17, 2008: External Affairs Minister Pranab Mukherjee meets Prakash Karat, asks the Left to allow the
government to go ahead with IAEA safeguards agreement.
June 30, 2008: Prime Minister says his government prepared to face Parliament before operationalising the
deal.
July 8, 2008: Left parties withdraw support to government.
July 9, 2008: The draft India-specific safeguards accord with the IAEA circulated to IAEA’s Board of Governors
for approval.
July 10, 2008: Prime Minister calls for a vote of confidence in Parliament.
July 14, 2008: The IAEA says it will meet on August 1 to consider the India-specific safeguards agreement.
July 18, 2008: Foreign Secretary Shivshankar Menon briefs the IAEA Board of Governors and some NSG
countries in Vienna on the safeguards agreement.
July 22, 2008: Government is willing to look at “possible amendments” to the Atomic Energy Act to ensure that
the country’s strategic autonomy will never be compromised, says Prime Minister Singh.
July 22, 2008: UPA government wins trust vote in the Lok Sabha.
July 24, 2008: India dismisses warning by Pakistan that the deal will accelerate an atomic arms race in the
sub-continent.
July 24, 2008: India launches full blast lobbying among the 45-nation NSG for an exemption for nuclear
commerce.
July 25, 2008: IAEA secretariat briefs member states on India-specific safeguards agreement.
Aug 1, 2008: IAEA Board of Governors adopts India-specific safeguards agreement unanimously.
Aug 21-22, 2008: The NSG meet to consider an India waiver ends inconclusively amid reservations by some
countries.
Sep 4-6, 2008: The NSG meets for the second time on the issue after the US comes up with a revised draft
and grants waiver to India after marathon parleys.

India gets NSG waiver

The Nuclear Suppliers Group (NSG) on Saturday granted India a crucial waiver that will enable it to carry out
nuclear commerce, ending 34 years of isolation enforced in the wake of the 1974 Pokharan nuclear tests.
The unprecedented decision of the 45-nation nuclear cartel giving exemption to a country which has not signed the
Nuclear Non-Proliferation Treaty (NPT) and the Comprehensive Test Ban Treaty (CTBT) is a landmark step in the
implementation of the Indo-US nuclear deal that will now go to the US Congress for approval.
“After protracted negotiations, the NSG today adopted an exemption for nuclear exports to India,” the Austrian Foreign
Ministry said in a statement.
“There is a sense of relief. I am particularly happy that the waiver (for India) meets with international nuclear
non-proliferation architecture,” Peter Launsky, Austrian foreign ministry spokesman said after an unscheduled meeting of
the NSG here.
Austria, along with Ireland, New Zealand and Switzerland had expressed strong reservations over the waiver being given
to India that forced the grouping to have an unscheduled meeting on Saturday after two days of deliberations failed to
produce a consensus.

Interst Rate Futures

Sebi set for interest rate futures in Q4
Hedging Tool For Banks To Beat Fluctuations

After successfully commencing currency futures, Sebi now plans to implement interest rate futures in the
fourth quarter of this fiscal. Speaking on the sidelines of a programme organised by Merchants Chamber of
Commerce on Tuesday, Sebi chairman C B Bhave said an RBI-Sebi joint committee is working out the modalities for this and would submit its recommendations soon.
Bhave said it would take lesser time to implement interest rate futures compared to currency futures. “We started working on currency futures in March and finally implemented it on NSE in August-end. But, we have gained experience through this and so interest rate futures will not take that much time,’’ he said. Interest rate futures help banks and FIs to hedge during interest rate fluctuations.
The Sebi chief said the regulator would examine the possibility of introducing more currencies like euro in the futures platform. “Now, it is only rupee and dollar in currency futures. Later, we could see more hard currencies.
NRIs and FIIs too can be allowed on this platform,’’ he added.
Stressing the need for more co-operation between regulators, Bhave said products like interest rate futures
involves two regulators—RBI and Sebi. “In future too, there should be more co-operation for new products.
Otherwise, new product launches will be delayed,’’ he said. Bhave said Sebi would introduce a pilot project for small investors called Applications Supported by Blocked Amount (ASBA) on September 8.
The project would be kicked off with the IPO of 20 Microns. Sebi has roped in five banks for this purpose—ICICI Bank, HDFC Bank, Corporation Bank, Union Bank and SBI.
Under the scheme, small investors don’t have to pay anything along with IPO applications. The bank where an investor has an account will block the amount for the time being. Only if the share is allotted, would the money be transferred from the account.
Commenting on self-regulatory organisations (SROs), Bhave said intermediary organisations are not keen to
become SROs. “We need a change of mindset,’’ he added.

Ganesh Rocks

Ganesha rocks!
Today, it’s that time of the year when chants of “Ganapati Bappa Morya” begin to resound across the country as long serpentine
queues of trucks carrying idols of Lord Ganesha inch their way into our homes and hearts. The elephant headed God’s back
and it’s time to rejoice, exclaims Viren Naidu Pandals with Ganesha idols dominate the country’s landscape, in an endeavour to win the coveted “best pandal
award” (an equivalent to an Oscar, literally!); women browse through every recipe book to outdo one another in the
‘modak preparation’ competition; the shops are busy selling exclusive merchandise; and the installation of Ganesha
idols in households and in mandals, is enthusiastically pursued. And if that’s not all, police and traffic personnel are
also deployed in order to ensure that the festivities go off smoothly. The Lord of success and destroyer of evil is
here! Also worshiped as the god of wealth, education, knowledge, he is the true symbol of wisdom and a bringer of
prosperity and good luck. Ganesha is also the demolisher of vanity, selfishness and pride. For India, the festival of
Ganesh Chaturthi acts as the perfect platform for people to come together, share camaraderie and exercise
devotion to God.
The festival in India, over decades, has gained immense popularity and preparations begin months in advance.
Sculptors who create the idols vie with one other to make bigger and better sculptures. Devotees playing trumpets,
cymbals, drums and flutes welcome the arrival of the elephant God, with open arms. The festival begins with the
setting up of magnificently carved Ganesha idols in the sacred corners of the homes and mandaps that are
artistically decorated, illustrating religious themes or current events. Prayer services are offered daily and these
services are not just restricted to the time of the festival; it’s also pursued otherwise. Irrespective of a religious
occasion, several Indians in many ways invoke the lord’s blessings with the recitation of “Om Ganeshaya Namaha” (I
bow to Thee Lord Ganesh). Enthusiasts flock mandaps to sing hymns from religious sholkas. And of course,
Ganesha’s favourite sweet dish, modak is prepared in different flavours and distributed.
During the festival, an array of the cultural/musical programmes are organised and few even bring to light social
issues, through short skits and few even use the festival as a platform to address current affairs, in an endeavour to
raise awareness. We
are all aware that this trend was initiated by Lokmanya Bal Gangadhar Tilak during the nascent stages of Indian
nationalism. Ganesh Chaturthi was prominently promoted by Tilak who brought to the cause of independence a fire
of religious revivalism. The festival aided community involvement in the form of poetry recital, musical concerts,
debates, etc. It served as a meeting ground for people of all communities, at a time when all social gatherings were
prohibited by the British Empire for trepidation of conspiracies, to be caused against them.
The duration of the Lord’s stay varies from place to place; but once the worship is completed, the idols are
immersed in the sea. However, all efforts are initiated to keep the religious roots intact with some needed alterations
to suit the changing sustainability issues. Religious rules demand immersion of all idols in natural water sources.
However the immersion of increasing number of idols against the few number of water resources available have
raised concerns among environmentalists. Not only is there an acute shortage of water resources, the harmful
materials used for preparing idols have caused severe damages to the water ecosystem. Hence, proactive citizens
have taken the initiative to raise concerns about water pollution during this festive period with due respect to the
spiritual sentiments of the devotees and also by upholding conventional values and also at the same time, adopting a
modernistic approach to the cause. While it’s imperative to respect religious sentiments, one needs to adopt
measures that are environmental friendly.
Sadly, when it’s time to immerse the great God of prosperity and wisdom, sorrow looms over us as we return to
our homes, awaiting Ganesha’s return, the following year. But the excitement continues to prevail as communities

discuss ways through which they could construct elaborate extravagant pandals the next year; women discuss
innovative recipes they could experiment with to prepare modaks, sculptors start brainstorming on how they could
artistically create praiseworthy idols and if that’s not enough, one can only reminisce the joy derived out of the
festivities and eagerly anticipate what the next festival would have in store for them.
So shun all your worries and have a great Ganesha Chaturthi ahead and most importantly, don’t forget to binge on
those scrumptious modaks that go with it.

E-greeting Ganesh Charaturthi

india

Aid agencies are warning of the threat of disease in Bihar

Aid agencies are warning of the threat of disease in India’s Bihar State, which has been hit by devastating floods.  the floods have displaced an estimated three million people and killed at least 90 people.

Villagers wade through floodwaters towards safer areas near Saharsa, about 280 kilometers (175 miles) northeast of Patna, India, 02 Sep 2008

After being evacuated from flooded villages spread across the state, nearly a quarter of a million people have been housed in makeshift relief camps in Bihar State. Thousands more are pouring into the shelters, every day, as authorities step up the rescue operation.

Aid workers say the camps are cramped and overcrowded. The United Nations has warned that the heat, combined with limited supplies of safe drinking water and poor hygiene, pose a great risk of water and airborne diseases.

The coordinator for emergency operations in Bihar for the United Nations Children’s Fund, Mukesh Puri, says facilities in relief camps must improve, to ward off the threat of epidemics.

“The doctors are there, but we do notice that there is an increase in cases of diarrhea, in particular,” he said. “Apart from providing food and other basic amenities, proper hygienic conditions have to be maintained and clean drinking water has to be provided. Particularly vulnerable groups like small children and pregnant women, their needs have to be taken care of, which is a challenge in such trying conditions.”

The floods started two weeks ago when the Kosi River breached a dam in Nepal. The river then shifted course, and flood waters spread across parts of Nepal and Bihar, including areas never threatened by floods before. Many people are still waiting to be rescued.

Bihar’s chief minister says the humanitarian crisis is likely to be extremely serious for several weeks, because the waters are not likely to recede anytime soon. Bihar is one of India’s poorest and least developed states.

UNICEF’s Puri says the aid effort will have to be sustained for a long time and among communities not used to coping with flooding.

“The challenging part is these camps will stay there for three months or up to six months. This is a different kind of flood,” he said. “Generally water goes away after 15-20 days. This time the people who have been hit, they have never had floods in the last 30 years, so they are not quite prepared in any sense for this kind of a devastation.”

Nepal is coping with the aftermath of the flooding. Aid workers there have reported outbreaks of fever, pneumonia and diarrhea among the flood victims.

Floods usually sweep across South Asia during the monsoon season, from June to September, making millions of people homeless, killing hundreds, and destroying farmland.

Ganesh chaturathi

Ganesha Chaturthi ( गणेश चतुर्थी) or Ganesha Festival is a day on which lord Ganesha, the son of Shiva and Parvati, is believed to bestow his presence on earth for all his devotees. It is also known as Vinayaka Chaturthi or Vinayaka Chavithi in Sanskrit, Kannada, Tamil and Telugu, Chavath ( चवथ ) in Konkani and as Chathaa (चथा) in Nepal Bhasa. It is celebrated as it is the birthday of Lord Ganesha. The festival is observed in the Hindu calendar month of Bhaadrapada, starting on the shukla chaturthi (fourth day of the waxing moon period). Typically, the day falls sometime between August 20 and September 15. The festival lasts for 10 days, ending on Ananta Chaturdashi. This festival is observed in the lunar month of bhadrapada shukla paksha chathurthi madhyahana vyapini purvaviddha. if chaturthi prevails on both days, the first day should be taken. Even if chaturthi prevails for complete duration of madhyahana on the second day, but if it prevails on previous day’s madhyahana period even for one ghatika (24 minutes) the previous day should be taken. (Ref. Dharmasindhu and Indian Calendric System, by Commodore S.K. Chatterjee (Retd). Madhyahana is the 3rd / 5th part of the day (Sunrise-sunset).

Ganesha, the elephant-headed son of Shiva and Parvati, is widely worshipped as the supreme god of wisdom, prosperity and good fortune.

While celebrated all over India, it is most elaborate in Maharashtra,Goa ( Biggest festival for Konkani people all over the world ) Gujarat, Karnataka and Andhra Pradesh, and other areas which were former states of the Maratha Empire. Outside India, it is celebrated by Newars in Nepal.

In 1893, Lokmanya Tilak, an Indian nationalist, social reformer and freedom fighter reshaped the annual Ganesh festival from private family celebrations into a grand public event. ^[1] It is interesting to note that the festival was not celebrated in a public manner until this time but was a family affair among Hindus, who used to celebrate it in a traditional manner.

Lokamanya Tilak visualized the cultural importance of this deity and popularised Ganesha Chaturthi as a National Festival “to bridge the gap between the Brahmins and the non-Brahmins and find an appropriate context in which to build a new grassroots unity between them” in his nationalistic strivings against the British in Maharashtra.

Tilak chose Ganesha as a rallying point for Indian protest against British rule because of his wide appeal as “the god for Everyman”. It was an important festival during the Peshwa rule in Maharashtra, but acquired a more organized form all over India during the Swaraj movement (Freedom struggle).

Tilak was the first to install large public images of Ganesha in pavilions, and he established the practice of submerging all the public images on the tenth day. The festival facilitated community participation & involvement in the form of learned discourses, dance dramas, poetry recital, musical concerts, debates, etc. It served as a meeting ground for common people of all castes and communities, in a time when social & political gatherings were forbidden by the British Rule to exercise control over the population.

Ganesh Chaturthi starts with the installation of these Ganesh statues in colorfully decorated homes and specially erected temporary structures mantapas (pandals) in every locality. The pandals are erected by the people or a specific society or locality or group by collecting monetary contributions. The mantapas are decorated specially for the festival, either by using decorative items like flower garlands, lights, etc or are theme based decorations, which depict religious themes or current events. The statues are worshiped with families and friends.

The priest, usually clad in red silk dhoti and shawl, then invokes life into the statue amidst the chanting of mantras. This ritual is the Pranapratishhtha. After this the ritual called as Shhodashopachara (16 ways of paying tribute) follows. Coconut, jaggery, 21 modakas, 21 durva (trefoil) blades of grass and red flowers are offered. The statue is anointed with red unguent, typically made of Kumkum & Sandalwood paste . Throughout the ceremony, Vedic hymns from the Rig Veda, the Ganapati Atharva Shirsha Upanishad, and the Ganesha stotra from the Narada Purana are chanted.

For 10 days, from Bhadrapad Shudh Chaturthi to the Ananta Chaturdashi, Ganesha is worshipped.

On the 11th day, the statue is taken through the streets in a procession accompanied with dancing, singing, and fanfare to be immersed in a river or the sea symbolizing a ritual see-off of the Lord in his journey towards his abode in Kailash while taking away with him the misfortunes of his devotees. All join in this final procession shouting “Ganapathi Bappa Morya, Purchya Varshi Laukar ya” (O father Ganesha, come again early next year). After the final offering of coconuts, flowers and camphor is made, people carry the statue to the river to immerse it.

The main sweet dish during the festival is the modak ([modagam]or modakam in South India). A modak is a dumpling made from rice flour/wheat flour with a stuffing of fresh or dry-grated coconut, jaggery, dry fruits and some other condiments. It is either steam-cooked or fried. Another popular sweet dish is the karanji (karjikaiin Kannada) which is similar to the modak in composition and taste but has a semicircular shape.

Public celebrations of the festival are hugely popular, with local communities (mandalas) vying with each other to put up the biggest statue & the best pandal. The festival is also the time for cultural activities like songs, dramas and orchestra and community activities like free medical checkup, blood donation camps, charity for the poor, etc.

Today, the Ganesh Festival is not only a popular festival – it has become a very critical and important economic activity for Maharashtra. Many artists, industries, and businesses survive on this mega-event. Ganesh Festival also provides a stage for budding artists to present their art to the public. The same holds true for Hyderabad too.

For the year 2008 in the Western Calendar, Ganesha Chaturthi commenced on wednesday,september 3rd.

Daughters of Mittal, Ambani and K P Singh top Forbes list

Riding high on their fathers’ richie-rich status, Vanisha Mittal, Isha Ambani and Pia Singh — daughters of Lakshmi Mittal, Mukesh Ambani and K P Singh respectively — have grabbed the top three rankings on a Forbes list of billionaire heiresses.

While many daughters and grand-daughters of the world’s wealthiest would never actually inherit a billion-dollar fortune, Indian-origin steel tycoon Lakshmi Mittal’s daughter Vanisha Mittal Bhatia has emerged as the potentially richest among those standing to inherit a fortune, according to US business magazine Forbes .

Vanisha is followed by Isha Ambani, the richest resident Indian Mukesh Ambani’s only daughter, at the second rank, and another Indian billionaire K P Singh’s daughter Pia Singh at the third position in the Forbes list of the world’s likely- to-be richest heiresses.

Mittal was ranked as the fourth richest person in the world in March when Forbes published its annual rich list, followed by Mukesh Ambani at the fifth rank.

“Perhaps best known for the USD 60 million wedding her father threw for her in 2004, she (Vanisha) now serves as a director on the board of dad’s USD 103 billion steel company, ArcelorMittal,” Forbes said.

“Her corporate involvement and small family — she has only one brother — puts her in good stead to inherit a sizable chunk of her father’s fortune,” the magazine noted.

About 16-year-old Isha, it said that Mukesh Ambani’s only daughter is “just a teenager but already has her own stake in the family’s Reliance Industries, worth about USD 80 million.”

About Indian realty baron K P Singh’s daughter Pia Singh, ranked third in the heiresses list, the magazine said she already holds a stake worth USD 400 million in the country’s biggest real estate firm.

Apple Computer’s iPhone 3G launch in India

Apple Computer’s iPhone 3G launch in India to act as a catalyst for 3G mobile market The launch of the much-awaited iPhone 3G by Apple Computer’s has changed the face of the
Indian telecom market. Priced at US$ 700, the phone will be marketed in India by Bharti Airtel and Vodafone Essar.
The phone offers superior sound quality amongst a host of other impressive features: support for Microsoft Exchange ActiveSync, push services (for email, contacts, calendar) and VPN protocols besides a fullyfunctional
GPS system.
The launch of Apple’s iPhone has also triggered a deluge of smartphones from other companies. Mobile phone makers such as Nokia, Samsung, LG, Blackberry, HTC and Motorola have launched smartphones
which will include a host of high-tech features – full web browsing capabilities over Wi-Fi or high-speed data networks – including touchscreens.
With the launch of Apple iPhone 3G, the market for 3G phones is expected to grow at a phenomenal pace. India is likely to have 270 million 3G subscribers by 2013 according to Research agency Strategy Analytics’

VP, Wireless Practice, David A Kerr. Currently, India is the world’s fastest-growing wireless market with nearly 300 million subscribers.

But actual pricing is much high .Sticker price shock has spoiled the launch party of Apple’s iPhone in India, home to the world’s fastest-growing mobile market.The 3G or third generation phone sells for more than triple its US price tag in India — a new key battleground for makers of high-end mobile handsets thanks to its increasingly affluent middle-class.

The 3G or third generation phone sells for more than triple its US price tag in India — a new key battleground for makers of high-end mobile handsets thanks to its increasingly affluent middle-class.

The eight-gigabyte model of the phone, which includes a built-in iPod and a desktop-class web browser, sells for 31,000 rupees (712 dollars), while the 16 GB version goes for 36,100.

“I like its looks, but at that price I can get something cheaper that does as much.”said vijay one of Tech person .

A spokesman for India’s leading mobile company Bharti Airtel — which is selling the iPhone along with rival Vodafone Essar, owned by Britain’s Vodaphone Group Plc — said it was “not possible to give a (sales) trend.”

But, in what appeared to be an attempt to explain away the low buzz surrounding the product, he said the “iPhone is a very aspirational project — it’s not conceived of as a mass device.”

A manager at one New Delhi phone showroom, who did not want his name used, said sales of the iPhone so far were “not very good. We’ve had a few buyers and people just in to look at it.”

The Indian price is far higher than the 199 dollars paid by US customers to the telecom giant AT&T for the phone. AT&T heavily subsidises the phone and makes money by tying the customer to an expensive annual subscription.

But vendors say they are confident the  Apple gadget will find its place in the Indian market despite the higher price and the fact that India has yet to launch 3G networks needed to support faster browsing and downloads.