The fertiliser industry in developing countries is facing challenge and uncertain future due to their commitments to the WTO. This is part ofthe reason that the developing countries are pushingfor reducing ofsubsidies given by the developed countries to their agriculture which is much bigger making the subsidies to agriculture becoming a contentious issue in the WTOnegotiations. Some ofthe subsidies are accepted in the WTO context whereas the others are not. In India the farm sector subsidies are given in the form of irrigation, electricity, fertilisers etc. Byfar thefertiliser andfood subsidies are the most significant amounting to about US$9.3 billion in 2004 (less than 0.5 percent ofGDP). Thus, whilefrom.the WTO point ofview, it is not necessary to reducefertiliser subsidy in India. However, because ofthe "WIOcommitments, quantitative restrictions in this sector had to be removed by the end ofMarch 2001 in India. Cheaper imports have been threatening the domestic industry specially the units that do not use gas as feedstock. In the short run domestic companies may enjoy the protection ofdifferential subsidy in some form or the other. But in the long run they will have to compete on a stand-alone basis. This paper examines the experience and impact offertiliser subsidy across various countries and shows that it is a common tool to promote farm production. But the evidence shows that the fertiliser subsidy tends . to benefit the rich farmers more than the poorfarmers. The study examines the different approaches used by the policymakers to reach the targetedfarmers. In this context the paper records the evidence from some countries where the fertiliser industry has come forward and complemented the policymakers ' efforts to meet this objective and in the process ensured their betterfuture.
Over the years it has become fashionable to argue that a vibrant bond market would be vastly superior to the present bank-led model of debt finance for industries and businesses in emerging economies. While it works well in most developed economies, in countries like India, despite all efforts of the central bank and the financial markets regulators or regulatory authorities, business firms still depend largely on the banking system for their debt capital funds. This study is an attempt to enquire into whether it is the measurable parameters such as cost of funds or the buoyancy in the economy that affects the firms' decisions or not. If not, it would follow that other qualitative or behavioral (or non-measurable) factors may be responsible for the lack of firms' appetite for issuing bonds.
Deki Electronics was a Noida based capacitor manufacturing firm. By virtue of being a technology-based manufacturing firm, it was susceptible to risks of technology obsolescence. The company got a major shock when the lighting industry shifted from CFL to LED-based lighting within a very short span of time. Innovation was the only key to their survival. The case explores how they learnt to manage technological innovations and explores the question that how to avoid such technological shocks.
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