MUMBAI // Ravi Chandran, a farmer in the southern Indian state of Tamil Nadu, does not share the views of the politicians and farmers who are vehemently opposing the government’s push for new land laws.
Narendra Modi, India’s prime minister, is trying to get amendments to the land acquisition bill of 2013 passed. The existing law states that to force any sale of land, at least 70 or 80 per cent of the owners must give their consent and there has to be a social impact assessment.
In December Mr Modi launched an emergency ordinance allowing land for certain projects to be forcibly acquired without the need for such processes. The government is trying to make this into a law, arguing that agricultural land is needed to move ahead with large-scale infrastructure and industrial “public purpose” projects to benefit the economy and population.
The new land bill is critical to Mr Modi’s economic reform process, as he strives to attract investment – and it is proving to be a major hurdle. Those who fiercely oppose it say that it will deprive farmers of their livelihoods, with the hugely political issue reaching boiling point when a farmer from Rajasthan hanged himself at an Aam Aadmi Party rally against the reforms last month in New Delhi.
But Mr Chandran, who farms 60 acres of land – 10 acres of which he owns and the remainder on lease – believes that Mr Modi’s planned changes could help the rural population.
“Industrialisation of rural areas would help the village folks to augment their income,” he says. “Lack of opportunity is the reason for exodus to towns.”
Farming is often economically unviable, he says.
“The reality is in spite of our best efforts, we are unable to make good profit from farming that we could sustain upon with this meagre income. The majority of farmers are marginal farmers owning less than two acres.”
Even in a good year, such a farmer in India earns less than 50,000 rupees (Dh2,883) annually and often needs to have another source of income, Mr Chandran says.
He believes that the farmer opposition to the reforms has been “blown out of proportion” by the opposing political parties and the media.
“When I interacted with many farmers, they are not aware of the bill,” he says.
The government is trying to get the bill passed in this session of parliament, which ends on May 8, but it is struggling to win the support needed.
Rahul Gandhi, vice president of the opposition Congress party, has accused Mr Modi of being pro-corporate and anti-farmer, portraying him as trying to snatch land and livelihoods from the poor.
Mr Modi’s land acquisition reforms would only apply to land for particular uses: defence, affordable housing, rural infrastructure, industrial corridors and public-private partnerships.
“Currently most of India’s usable land is in agriculture, which produces 16 per cent of GDP,” says Kamal Sen, the president and chief executive of Cogitaas, a consultancy. “Obviously, more land has to shift to industries, infrastructure, power generation, urbanisation and the services industry, which increases GDP and productive employment.”
He explains that agriculture “is becoming unviable without government support” and many farmers do not want their future generations to go into farming.
“The point for Indian agriculture is not the quantity of land used, but its productivity. Indian agriculture, mostly stuck in food grains production, has some of the lowest productivity per acre measures, whether for food grains or for other agricultural uses,” says Mr Sen. “Farmers can produce three to four times more, on less land, if agriculture reaches world-class productivity.
“Making farming productive and profitable is the main issue – which involves many factors like technology, scientific cropping, water conservation, crop insurance, etc, rather than just quantity of land used in farming.”
Unseasonal rains in a number of states, which have destroyed crops, have added to the woes of farmers.
Farmers in rural areas would be offered four times the market value for the acquisition of their land. But there are other factors that need to be considered, Mr Sen says.
“At the village level there should be a system of advisory, guiding and management systems that give displaced people full rehabilitation, with secure livelihoods, with some stake in the future development of their area and full help in restarting their lives.”
The Confederation of Indian Industry (CII) highlights that the amended land bill would help create millions of much-needed jobs in India, which has a population of more than 1.2 billion. With more than half of its citizens under the age of 25, millions are entering the job market each year.
“The land acquisition ordinance could not have come at a more opportune time when developmental infrastructure and industrial projects worth crores [crore=10 million] of rupees are delayed due to hurdles in land acquisition,” says Sumit Mazumder, the president of the CII. “This deprives millions of landless people of job opportunities and forces them to migrate to urban slums to look for livelihood.”
The amended bill is “pro-farmer pro growth”, he adds.
The United States has also weighed in, urging India to resolve its land acquisition issues to attract funds for infrastructure projects and smart cities.
“Land acquisition, foreign direct investment and other questions still remain unresolved,” the US ambassador Richard Verma said, addressing the annual general meeting of the American Chamber of Commerce in New Delhi, the news agency Ians has reported. “The expectation of large amounts of private sector finance, either domestic or foreign will be a challenge. These concerns mean many projects may not be commercially viable at the outset.”
Mehul Thakur, the director of Viva Homes, a Mumbai-based developer, says that the amended bill would make land acquisition a “faster and smoother” process to the benefit of the country’s economic growth ambitions.
“Most of the land parcels are held up by small farmers and gathering consents from all is a long process which leads to cost overruns and delay in completion of projects,” says Mr Thakur.
Mr Chandran says he knows many farmers who have voluntarily sold their land to property developers in exchange for large amounts of money and they saw it as an opportunity to exit the struggle of making a living from farming.
“For instance, the 45km stretch between Mayiladuthurai and Thiruvarur, which passes through my town, you can see lot of real estate plots carved out of farmland.”
He adds that he thinks his land would be unlikely to be acquired under the amended land bill because his farm is situated in such a remote area.
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Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
In numbers
1,000 tonnes of waste collected daily:
- 800 tonnes converted into alternative fuel
- 150 tonnes to landfill
- 50 tonnes sold as scrap metal
800 tonnes of RDF replaces 500 tonnes of coal
Two conveyor lines treat more than 350,000 tonnes of waste per year
25 staff on site
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
How it works
Each player begins with one of the great empires of history, from Julius Caesar's Rome to Ramses of Egypt, spread over Europe and the Middle East.
Round by round, the player expands their empire. The more land they have, the more money they can take from their coffers for each go.
As unruled land and soldiers are acquired, players must feed them. When a player comes up against land held by another army, they can choose to battle for supremacy.
A dice-based battle system is used and players can get the edge on their enemy with by deploying a renowned hero on the battlefield.
Players that lose battles and land will find their coffers dwindle and troops go hungry. The end goal? Global domination of course.
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
More coverage from the Future Forum
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In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
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%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%20Twin-turbocharged%204-litre%20V8%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E542bhp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E770Nm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3EEight-speed%20automatic%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh1%2C450%2C000%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A
The specs: 2018 Kia Picanto
Price: From Dh39,500
Engine: 1.2L inline four-cylinder
Transmission: Four-speed auto
Power: 86hp @ 6,000rpm
Torque: 122Nm @ 4,000rpm
Fuel economy, combined: 6.0L / 100km
Tips to avoid getting scammed
1) Beware of cheques presented late on Thursday
2) Visit an RTA centre to change registration only after receiving payment
3) Be aware of people asking to test drive the car alone
4) Try not to close the sale at night
5) Don't be rushed into a sale
6) Call 901 if you see any suspicious behaviour
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
The Lowdown
Kesari
Rating: 2.5/5 stars
Produced by: Dharma Productions, Azure Entertainment
Directed by: Anubhav Singh
Cast: Akshay Kumar, Parineeti Chopra
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
COMPANY%20PROFILE%3A
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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Alaan%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202021%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Parthi%20Duraisamy%20and%20Karun%20Kurien%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%247%20million%20raised%20in%20total%20%E2%80%94%20%242.5%20million%20in%20a%20seed%20round%20and%20%244.5%20million%20in%20a%20pre-series%20A%20round%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
THE APPRENTICE
Director: Ali Abbasi
Starring: Sebastian Stan, Maria Bakalova, Jeremy Strong
Rating: 3/5
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