Many NRIs think of return, but see no prospect

New Delhi: Ajit Singh, an investment adviser in Boston working for one of Europe's largest commercial banks, had it all good a year ago. Engaged to be married later this year, he now finds that his big fat Indian wedding has been called off, while his great American dream has come crashing down.

"The girl's parents called off the wedding when they heard about people losing jobs in the US. They were no longer sure about the stability of my job," Singh told IANS over phone from Boston.

His situation, perhaps, isn't as bad as it was for Karthik Rajaram, a Los Angeles-based financial adviser, who recently killed five members of his family and himself after his finances were wiped out in the stock market crash.

There is no place like home - this is a cliche that is appealing to a host of non-resident Indians in the US and Europe these days as they look for prospects back home, fearing large-scale job losses in the lands of their dreams.

But the opportunities in India are no brighter.

Kunal Banerjee, chief executive of headhunting firm Absolute HR Services, says cases like that of Ajit Singh were not isolated, as the number of jobless people in the US touched 9.77 million in September, the highest in 16 years, and has been worsening with each passing day.

"The number of resumes from people wanting to come back has doubled. The hardest hit are the ones employed in financial and IT services," Banerjee told IANS.

"It is too early to comment on whether we will witness a mass exodus. The actual picture, I guess, will get clearer by mid-November or so when companies start to gauge the real impact of the meltdown."

Kris Lakshmikanth, chief executive and managing director of the Bangalore-based staffing agency Head Hunters India, also feels that non-resident Indians will start coming back to India in droves.

"We have seen a more than 100 percent jump in NRI resumes since July," he said.

"The US and other Western economies are in bad shape and jobs will continue to disappear. The US unemployment rate, which is around six percent currently, could reach double digits by the first quarter of 2009."

Top executives at headhunting firms said the type of visa, especially to the US, was also a determinant of how quickly or in what desperation people will make that trip back home.

"A lot of them to the US, for example, have gone on H1-B or L-1 visas. Software companies typically sponsor these visas. But since their margins are under severe pressure, they have started laying off people," he said.

"For H1-B cases, the visas stand null and void and the person would have to come back un"

Among the Indians expected to return are students. Typically, they are allowed a year-long period to work in the US or Britain once they finish their graduate or postgraduate studies. But with no jobs around, they may not have much of an alternative.

Yet, there are many who still favour the US over their homeland as they have bought houses, raised families and have come to believe in the American dream - like the New Jersey-based T.K. Sebastian, an executive in the finance department of a medium enterprise.

"There are no takers for my house. I can't sell it for less than what I bought it for. I still have loans to repay. Going back to India doesn't make sense to me, anyway. I hope the crisis will not last for ever."

But the situation is no better in India. The Associated Chambers of Commerce and Industry of India (Assocham), in fact, said seven key industries, including banking and IT, would see companies shed as much as 25 percent of the workforce.

Although the chamber later retracted the analysis, it clearly reflected what the underlying sentiment was in the country's corporate sector which has been reeling under a liquidity crisis and a lack of demand.

"There is a clear danger of fresh investments, incremental employment and additional exports getting affected in the months ahead," Rajeev Chandrasekhar, president of the Federation of Indian Chambers of Commerce and Industry (FICCI), had warned.

"Companies do not want to admit yet. A lot of them who had hired staff in large numbers are asking candidates not to join," said Banerjee. "This is especially true for IT firms that earned considerable revenues from financial services."

Aliens Group bags Green Platinum Pre-certification

Rated by Indian Green Building Council (IGBC)

Hyderabad, October 22, 2008: Aliens Group, leading Real Estate Company in Hyderabad, just added another feather to its cap. It has become the only Real Estate Company in Andhra Pradesh to be pre-certified with a Platinum Rating by Indian Green Building Council (IGBC) in the Residential Townships category. This makes it one of the most Eco-Friendly Properties to live in and the First Platinum pre-certified Green Township in Hyderabad. This comes after Aliens Group being the only Real Estate Company to get the HUDA approval for a 30 Storied High Rise in Hyderabad.

IGBC is a not-for-profit organization and also the certifying body for Green Buildings in India. It follows a series of studies and does extensive review after which these ratings are given to the developments. There are very few developments that are accredited with these ratings in India and Aliens Group is one of them.

Speaking on the occasion Mr. Hari Challa, MD Aliens Group said, "It is a matter of great pride that the award recognizes our Eco- Friendly initiatives. We believe in self governance and are aware about our responsibility towards the society and environment. What makes me proud is - what we are building today is not at the cost of tomorrow."

Mr S Srinivas, Principal Counsellor of IGBC said, "We are happy to see Aliens Group contributing towards building a Green India. We are delighted to review their designs, which we found to be the best in class. It surely is a giant leap for the industry."

Aliens Group strives on their Intelligent Living Concept and this is a Silver Lining for them. It boasts about the use of the most Eco-Friendly concepts in Aliens Space Station-1. Healthy Environment, Energy Efficiency and Water Conservation are the main 'green' features of the development. They are contemplating to develop more 'green townships' in the coming future.

As the thought leaders of the 'Intelligent living' concept, they apply the new age phenomenon of 'maximised spaces and minimised hassles' to satisfy the most conscientious buyers of today's generation.

About Aliens group:

Aliens Group (www.aliensgroup.in)is a construction and infrastructure company headquartered in Hitech City, Hyderabad. Aliens group consists of Aliens Developers, Aliens Infratech and Aliens Infra. The company was founded by the visionary brother duo - Hari Challa and Venkat Challa and is committed to revolutionize the urban landscape of Modern India. Today, Aliens group is executing projects worth INR 5000 crores with an unparalleled growth rate of 300% in the year 2007-08. Since inception in 2004 the company has grown to a 500+ strong organization. The group is steadfastly becoming one of the prime players in Hyderabad's real estate market, with a land bank of over 800 acres and mega projects in prime zones.

They are Young, They Dream Big. In a short span of four years, Aliens Group is amongst the Top Real Estate Players in Hyderabad, given the price value they command and the brand enrichment they enjoy. Such impetus of growth and progress drives them towards the vision of becoming the Top 5 Infrastructure Companies of India by 2015.

In their endeavor towards achieving the vision of 'urban revolution', Aliens Group is creating an institution that thrives in a 'leading by speed' environment with a passion for growth through customer delight.

ALIENS GROUP PARTICIPATES IN INDIA AVIATION 2008, INTERNATIONAL EXHIBITION & CONFERENCE, IN HYDERABAD

October 17, 2008: Aliens Group, one of the leading Real Estate Companies in Hyderabad is participating at the prestigious India Aviation 2008, International Exhibition and Conference, from October 15-18, 2008 in Hyderabad.

Aliens Group will display its acclaimed ventures Space Station –I, Space Station –II and Aliens HUB at the event exhibition, at Booth C-48a, Hall C.

Speaking on the occasion, Mr. Hari Challa, MD, Aliens Group said, “Aliens Group is delighted to be a part of the prestigious India Aviation 2008 Exhibition and Conference. We have participated in Aviation exhibition as we strongly believe that Aviation and luxury living go hand in hand.”

HUB would be developed in two phases, ranging from a completion span of 3 yrs to 10 yrs, and it would eventually sprawl to an expanse of 1200 to 2000 acres and beyond, with an estimated investment return of at least 13 times the initial investment in a span of 10 years.

The amenities that we would provide in Aliens HUB, both in Phase 1 and Phase 2 are Golf resort, City retreat sports resorts, internationally certified Gym & Health club, Aviation club with airstrip, Fixed Based Operation: Maintenance, Service & re-fuelling of Aircrafts, Aero-modelling club, Helipad, Off-site corporate training centres, and Business centres.

About Aliens:

Aliens Group is a construction and infrastructure company headquartered in Hitech City, Hyderabad. Aliens group consists of Aliens Developers, Aliens Infratech and Aliens Infra. The company was founded by the visionary brother duo - Hari Challa and Venkat Challa and is committed to revolutionizing the urban landscape of Modern India. Today, Aliens group is executing projects worth INR 5000 crores with an unparalleled growth rate of 300% in the year 2007-08. Since inception in 2004 the company has grown to a 500+ strong organization. The group is steadfastly becoming one of the prime players in Hyderabad’s real estate market, with a land bank of over 800 acres and mega projects in prime zones.

We are Young, We Dream Big. In a short span of four years, Aliens group is amongst the Top Tier Real Estate Players in Hyderabad, given the price value we command and the brand enrichment we enjoy. This is a far cry from our competition wherein decades are spent to gain such momentum. Such impetus of growth and progress drives us towards the vision of becoming the Top 5 Infrastructure Companies of India by 2015.

For further information, please contact:

Mr. Prashant Aliens Group media@aliensgroup.in Mobile: 9177229944 Phone No.: +91 - 40 - 40336666

Telangana back in centrestage of Andhra Pradesh politics

Hyderabad, Oct 10 (IANS) The Telugu Desam Party’s (TDP) decision to support the demand for separate statehood for Andhra Pradesh’s Telangana region has brought the issue back to the centrestage and is likely to put pressure on the ruling Congress party to take a similar stand ahead of the elections scheduled to be held in five months.The fact that the TDP was forced to reverse its 26-year-old ideological plank of unified Andhra Pradesh proves how significant the issue has become in the run up to the simultaneous polls to state assembly and Lok Sabha.
The TDP is the first major political party with state-wide presence to take a clear stand in favour of the six-decade old demand for separate Telangana state. The party took a u-turn on the issue after realising that it would be difficult to regain the lost ground in the region without taking a pro-Telangana stand.
Telangana sends as many as 119 legislators to the 294-member state legislative assembly and accounts for 17 out of 42 members of Lok Sabha from the state.
The TDP had fought the 2004 elections on the plank of united Andhra Pradesh. The party not only lost power to the Congress party but was nearly wiped out from Telangana. The party’s strength in the assembly came down drastically to 45.
The Congress had then fought elections in alliance with Telangana Rashtra Samiti (TRS), fighting for separate Telangana, and two Communist parties. The electoral understanding with TRS was based on the Congress’ assurance to help achieve the separate state.
However, with the Congress-led United Progressive Alliance (UPA) government failing to take any concrete step for formation of Telangana, the TRS pulled out of the coalition and accused Congress of once again betraying the people of Telangana. It termed the formation of a three-member committee led by Pranab Mukherjee to look into the demand as a delaying tactic.
The Congress state unit left the issue to party president Sonia Gandhi for a final decision. With TDP reversing its stand, pressure is likely to mount on the Congress to take a clear stand on the issue.
Political analysts say the ‘grand alliance’ that the TDP is trying to forge with the TRS and Left parties, and Congress party’s own cadre in Telangana will put pressure on the Congress.
State Congress president D. Srinivas, who hails from the Telangana region, welcomed the stand taken by TDP and admitted that the UPA would have to take a clear stand.
For TRS, the change of stand by TDP is a major victory. The party was under attack for holding talks with TDP for electoral alliance without the latter supporting a separate state. As the Praja Rajyam Party (PRP) floated recently by superstar Chiranjeevi has also hinted at a pro-Telangana stand, it is only the Congress party whose stand on the issue remains ambiguous.
The TDP, which was opposed to bifurcation of the state ever since N.T. Rama Rao floated the party in 1982, admitted that no political party could remain oblivious to the sentiments of the people of Telangana. United Andhra Pradesh was one of the important pillars on which NTR had founded the party.
TDP president N. Chandrababu Naidu termed the reversal of stand a ‘historic necessity’ and hoped that people of coastal Andhra and Rayalseema would understand this.
Interestingly, it was TDP leader K. Chandrasekhara Rao who quit the party in 2001 to form TRS and revive the Telangana movement. The TDP also witnessed desertions on the issue more recently. Its senior leader T. Devender Goud, seen as number two in the party, quit to float Nava Telangana Praja Party (NTPP) to bolster the movement for a separate state.
Some analysts see the reversal of stand as a political ploy by the TDP to win allies. They feel that the TDP may be following in the footsteps of Congress party, which used the Telangana issue on several occasions, the latest being the 2004 elections.
The Congress backed the movement for Telangana in 1969 but backed out when formation of a separate state looked certain. It has also been accused of stoking the fires of separatism in Andhra and Rayalseema.
It remain to be seen if the TDP is using the issue as a desperate move to return to power in the state. Like the Congress party, the TDP might also support separatism but get away when it comes to deliver a separate Telangana.
Telangana, comprising 10 districts, including Hyderabad, was part of the erstwhile Hyderabad State. It was merged with Andhra State in 1956 to form Andhra Pradesh although the people of Telangana wanted to have their own identity.
The region has since then witnessed several agitations for separate statehood. More than 300 people were killed in the violent agitation of 1969.