Non-eligible Candidate Won Indian Rupee Symbol Design Competition

September 9, 2010 by Prakash Dhawan · Leave a Comment
Filed under: "Rupees" 

Non-eligible Candidate Won Indian Rupee Symbol Design Competition

New Delhi : Indian Rupee symbol competition is won by non-eligible candidate. The sign, designed by an Indian Institute of Technology (IIT) postgraduate D Udaya Kumar, was selected from among five shortlisted symbols before the cabinet, information and broadcasting minister Ambika Soni said after the cabinet meeting.

But RTI had already exposed that he is Non-eligible candidate for Indian Rupee Symbol Design Competition as he had violated the Indian Rupee Symbol Design competition guidelines .

According to guidelines one candidate could send maximum two design entries but he had submitted a total of four designs.

Second violation of guideline is the symbol itself, as it’s not applicable to standard keyboard or Unicode enable.

Violations are not stopping here according to information and broadcasting minister Ambika Soni “The new rupee symbol partially resembles the Devanagri ‘Ra’ and Roman capital ‘R’ without the stem coupled with two parallel lines – in line with Finance Minister Pranab Mukherjee’s vision for a symbol which reflects and captures Indian ethos and culture.”

But using roman script/English alphabet in designing the New Indian rupee symbol is also a violation of guideline according to the guideline “The symbol had to be in the Indian National Language Script”.

But according to National language Script English is not included in that list till this date.

All the above facts clearly show that his candidacy for the Indian rupee symbol competition has violated the guidelines which can be found here

Why did Finance Ministry put the guidelines in the first place when they would not follow it themselves or probably they were created only to be broken? This clearly showcases the biased attitude towards rest of the contestants who had participated in the Indian Rupee Symbol Design Competition.

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Exporters Need to Counter Rising Rupee

August 26, 2010 by Prakash Dhawan · Leave a Comment
Filed under: "Rupees" 

Exporters Need to Counter Rising Rupee

With the ever appreciating rupee, exporters will now have to hunt for alternative ways to keep their goods competitive in the global scenario.

Although the government has given certain sops to cushion the impact, there is apprehension in North Block that too many exemptions can attract the attention of the watchful WTO.

I believe that exporters will now have to adopt alternative mechanisms including forward contracts, shifting to other currencies, and establishing protective clauses in their contracts to safeguard their interests.

Apart from these measures, exporters should do more business with regions like West Asia and the European Union, which will help them to partially nullify the impact of the strengthening rupee vis-a-vis the US dollar.

Even industry bodies including FICCI who had conducted a survey are of the opinion that exporters will now have to look towards the markets of West Asia, Africa, Southeast Asia, the UAE, and the European Union.

Having said that, the government should now focus on improving the factors that can lower the cost of production of goods. Infrastructure is a key sector where the government has to deliver on a war-footing. Improved infrastructure can help in lowering production costs considerably, which in turn will go a long way to give the exporters an edge over other competitors.

Bikky Khosla is CEO of http://www.tradeindia.com and editor Tradeindia weekly exim newsletter.

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