Arvind Kejriwal has been in his job for less than a week but his rise to power in the Indian capital is being watched nationally and internationally as a potential game-changer.
With good reason.
As Delhi’s elected chief executive, Mr Kejriwal runs a city of an estimated 20 million people that is the seat of national government and is seen to showcase the rising India. His Aam Aadmi (Common Man) Party’s landslide victory handed prime minister Narendra Modi’s BJP its first serious political defeat eight months after it was swept into office.
The charismatic and well-dressed Mr Modi appeared to be flying high until Mr Kejriwal – in his famously grotty muffler – demonstrated that he had even more of the common touch than Mr Modi by winning 67 of 70 seats in Delhi's local legislature.
But most of all, Mr Kejriwal's agenda for action is so audacious – ending India's endemic corruption and slaying the "VIP culture" – that he is seen as a modern hero. And if he has any successes on this score, he will have created a huge national (and international) following as well as a template that could liberate the rest of India from the tyranny of its incompetent and corrupt ruling class.
Can Mr Kejriwal do it? There is already talk of him eyeing the national stage but to make that leap, he must first deliver for Delhi. There are inherent problems with this plan, most of all that it is a mammoth task and voters who provide an enormous electoral mandate are also likely to be the most impatient. Delivering results is not easy and Mr Kejriwal has a dispiriting political track record, having previously failed to stay the course. Last year, he won the same election to the same job and resigned after a chaotic and confrontational 49-day period in office.
But he apologised for the hasty exit during this election campaign and Delhi’s voters forgave him enough to award him another chance to effect the change for which they thirst.
That must be Mr Kejriwal’s compass as he charts his course. If he reads his mandate right, he will come to the same conclusions as another political outsider. Joko Widodo, now president of Indonesia, was another seeming non-politician who won high political office because voters wanted clean government.
Mr Kejriwal should be in little doubt about Delhi’s mandate. His administration has been talking most about halving electricity tariffs and providing free water. But more than the populist promises, the huge vote for the AAP reflected India’s rising rage against corruption. In Mr Kejriwal, a former tax inspector and anti-corruption activist, the voters of Delhi clearly believed there might be the chance to restore ethics to public life and replace expensive paper trails through murky offices with more transparent ways to live better and happier.
But how can one man do all of this, and quickly?
The immense burdens of those expectations are leavened by lessons right there in the region. Consider the political trajectory of Jokowi, as he is popularly known in Indonesia, which is afflicted by problems similar to India – corruption, misrule and a political culture of entitlement.
Jokowi tackled this by starting small. First, he made a success of his tenure as mayor of Surakarta in central Java by employing care and compassion. He sought to preserve and promote Surakarta’s historic attributes without discouraging modernisation. For example, rather than sending the police to clear street traders blocking traffic, he engaged the peddlers in lengthy discussions and created safe and accessible places to ply their trade. He revitalised historic modes of transport and built walkways to encourage people back on to Surakarta’s streets. Zoning laws were enforced to discourage malls in the historic heart of the city.
After a job promotion to Jakarta, Jokowi promised and delivered better services and cleaner governance by moving people from slum areas, giving them free health care and creating better access to education.
Sometimes, he would do the simplest things – filling holes in the streets and planting trees. With surprise visits to government offices, he fought his promised war against bureaucratic inefficiency and corruption one battle at a time. In his trademark white shirt and cheap shoes, the governor would often jump out of his official car and on to a motorbike to beat Jakarta’s notorious traffic jams. They loved him for it.
Then, he became president, subverting the political insider, Prabowo Subianto, who belonged to one of Java’s elite families.
Mr Kejriwal’s lessons in effective proactive governance must start right with Jokowi’s example. Rather than big-ticket steps like the anti-corruption bill that forced Mr Kejriwal’s resignation last time around, he should borrow some of Jokowi’s simple homespun measures to curb graft – for instance, “one-stop shops” for business permits, where uniformed civil servants conduct their business in full view of the public.
Like Jokowi, Mr Kejriwal has a tremendous advantage in his non-political background. It has enormous appeal. People elect non-politicians because they seem to be maverick heroes, exciting the young by renewing what one Indian commentator said after Mr Kejriwal’s victory, “the thrill of a (democratic) mystery”. Mostly, the mystery is about sensible and sustained execution and whether Mr Kejriwal can make the transition from impassioned activist to effective administrator.
rroshanlall@thenational.ae
On Twitter: @rashmeerl
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.”
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
The biog
From: Ras Al Khaimah
Age: 50
Profession: Electronic engineer, worked with Etisalat for the past 20 years
Hobbies: 'Anything that involves exploration, hunting, fishing, mountaineering, the sea, hiking, scuba diving, and adventure sports'
Favourite quote: 'Life is so simple, enjoy it'
How to come clean about financial infidelity
- Be honest and transparent: It is always better to own up than be found out. Tell your partner everything they want to know. Show remorse. Inform them of the extent of the situation so they know what they are dealing with.
- Work on yourself: Be honest with yourself and your partner and figure out why you did it. Don’t be ashamed to ask for professional help.
- Give it time: Like any breach of trust, it requires time to rebuild. So be consistent, communicate often and be patient with your partner and yourself.
- Discuss your financial situation regularly: Ensure your spouse is involved in financial matters and decisions. Your ability to consistently follow through with what you say you are going to do when it comes to money can make all the difference in your partner’s willingness to trust you again.
- Work on a plan to resolve the problem together: If there is a lot of debt, for example, create a budget and financial plan together and ensure your partner is fully informed, involved and supported.
Carol Glynn, founder of Conscious Finance Coaching
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Zayed Sustainability Prize
Company%20profile
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Final scores
18 under: Tyrrell Hatton (ENG)
- 14: Jason Scrivener (AUS)
-13: Rory McIlroy (NIR)
-12: Rafa Cabrera Bello (ESP)
-11: David Lipsky (USA), Marc Warren (SCO)
-10: Tommy Fleetwood (ENG), Chris Paisley (ENG), Matt Wallace (ENG), Fabrizio Zanotti (PAR)
88 Video's most popular rentals
Avengers 3: Infinity War: an American superhero film released in 2018 and based on the Marvel Comics story.
Sholay: a 1975 Indian action-adventure film. It follows the adventures of two criminals hired by police to catch a vagabond. The film was panned on release but is now considered a classic.
Lucifer: is a 2019 Malayalam-language action film. It dives into the gritty world of Kerala’s politics and has become one of the highest-grossing Malayalam films of all time.
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
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FIXTURES
Monday, January 28
Iran v Japan, Hazza bin Zayed Stadium (6pm)
Tuesday, January 29
UAEv Qatar, Mohamed Bin Zayed Stadium (6pm)
Friday, February 1
Final, Zayed Sports City Stadium (6pm)
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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more from Janine di Giovanni
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
Paris%20Agreement
%3Cp%3EArticle%2014%3C%2Fp%3E%0A%3Cp%3E1.%20%5BThe%20Cop%5D%20shall%20periodically%20take%20stock%20of%20the%20implementation%20of%20this%20Agreement%20to%20assess%20the%20collective%20progress%20towards%20achieving%20the%20purpose%20of%20this%20Agreement%20and%20its%20long-term%20goals%20(referred%20to%20as%20the%20%22global%20stocktake%22)%3C%2Fp%3E%0A%3Cp%3E2.%20%5BThe%20Cop%5D%20shall%20undertake%20its%20first%20global%20stocktake%20in%202023%20and%20every%20five%20years%20thereafter%C2%A0%3C%2Fp%3E%0A
Need to know
Unlike other mobile wallets and payment apps, a unique feature of eWallet is that there is no need to have a bank account, credit or debit card to do digital payments.
Customers only need a valid Emirates ID and a working UAE mobile number to register for eWallet account.
