The Times of India Editorial with Vocabulary PDF – May 2018
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The Times of India Editorial with Vocabulary – “The Karnataka Lesson”
Take advantage of the coming battle of giants by freeing India’s farmers. In the uproar surrounding last week’s acquisition of Flipkart by Walmart, the true significance of the world’s largest e-commerce deal escaped everyone. Headlines screamed about the coming battle in India between two American giants, Amazon and Walmart. News channels narrated a Cinderella story of two youngsters who started selling a few books from their two bedroom flat in Bengaluru and created a company that was worth $21 billion ten years later, making a hundred of its employees dollar millionaires.
Nationalists moaned about the takeover of an Indian by a foreign company. Economists saw it as a coming of age of India: following China’s example, India too would now join up with one of the most powerful global supply chains, giving a major impetus to our exports, accelerating foreign investment and jobs in the country.
India’s young start-up community was excited that the deal was a role model of how an Indian entrepreneur could be handsomely rewarded for the hard work in building a company. And our tax department was salivating over the bonanza in capital gains from the deal.
All this is true but none of it captures the full story. Yes, May 10, 2018 was a historic milestone in India’s economic history when Walmart, the world’s largest retailer announced a $16 billion acquisition for a 77% stake in Flipkart, India’s largest online marketplace. It was a lot of money to pay for a company that was losing money and not expected to break even in the next five years; some had even predicted the demise of Flipkart. When the deal was announced, the price of Walmart shares fell in its home country and investors lost $10 billion.
What most observers failed to grasp are the true benefits to India, which emanate from Walmart’s competitive advantage over Amazon. It is able to deliver fresh, high quality vegetables, fruits and other farm produce via a legendary cold chain which it has perfected in 28 countries. Neither Amazon, nor Flipkart has this.
Reliance also tried to do a Walmart in India in its foray into ‘Reliance Fresh’ but it failed. It is also good news for kirana stores. Walmart has been operating a chain of 21 Best Price wholesale stores, supplying to over a million retailers in India. It now plans to convert many of them into ‘partners’ for its last mile delivery to the Indian home.
It will upgrade the kirana store’s skills in inventory management, digital payments, and logistics technology. Thus, it has neutralised the earlier hostility from the trade. The real story in the emerging e-commerce battle is the potential transformation of India’s agriculture and kirana store.
A respected management consultancy firm has estimated that the Walmart-Flipkart venture will require infusion of significantly more capital – Walmart has already announced $5 billion – and this could create roughly a crore new jobs over time. It has already made a strong start by sourcing 97% of its goods from Indian medium and small enterprises, exporting $4-5 billion each year.
This trend will accelerate. In line with its global practice, the new Walmart operation will source 95% of its goods locally. Plus, the jobs it will create in logistics, cold chain, warehousing, distribution and delivery, add up to 10 million jobs.
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I sometimes wonder why i pay Rs 20 per kilo for potatoes when the farmer receives only Rs 5. My potatoes travel some distance, i realise, from the farm to the mandi to my kirana shop, and each person in the chain takes his cut. Still, the Rs 15 gap seems excessive. Analysis shows that in countries where large supermarkets operate, the gap is smaller because farmers have long term contracts with large retailers and they invariably receive higher returns because of eliminating middlemen.
Yes, it is arthiyas and wholesalers in the mandi who will lose. But i refuse to shed tears for them since they operate a corrupt cartel which exploits the farmer. A typical farmer harvests his crop, loads it on a bullock cart, travels 30 km to the mandi, where he is often forced to sell at distress prices fixed by the cartel. The arthiya knows that the crop is perishable.
Aware of this corrupt system, the central government has created a model reform act, scrapping the ‘agricultural produce marketing committees’ (APMC). But only a few states (like Maharashtra and Bihar) have implemented it. The reason is that the corrupt APMCs provide black money to politicians to fight elections. The e-NAM portal was supposed to provide online information to farmers in surrounding mandis, but like most government programmes it has been a flop.
In contrast, global retailers like Walmart invest in cold storages, airconditioned trucks and grading facilities, and connect the farmer to food processors; this saves post-harvest losses and increases farmer income. Given the pervasive APMC cartels, the benefits of Walmart’s entry will thus only be confined to a handful of states. This is a great pity since a third to half of India’s food crop rots.
If he is serious about doubling farmer incomes, Prime Minister Narendra Modi faces a choice. Will he pick up the phone and tell chief ministers of BJP ruled states to abolish APMCs, or will he accept the corrupt cartels that finance his, and other parties? If he is true to his election promises to end corruption and double farm incomes, he will free farmers to sell their produce to anyone they choose, freeing them from the clutches of the ‘APMC Raj’. Only in this way will India take the full advantage of the coming battle of the giants.
Vocabulary Words from Times of India Editorial
1. Cartel(noun) उत्पादक संघ : An association of manufacturers or suppliers with the purpose of maintaining prices at a high level and restricting competition.
Synonyms: Syndicate, Conglomerate, Consortium, Partnership, Union, Association
Example: As with the pure monopoly, companies would join a cartel in order to try to protect themselves from the harmful consequences of competition.
2. Invariably(adverb) बेबदलता से/ स्थिरता से/ हर स्थिति में: In every case or on every occasion; always. (If something invariably happens or is invariably true, it always happens or is always true. )
Synonyms: Perpetually, Consistently, Forever, Constantly, Always, Unfailingly
Antonyms: Intermittently, Periodically, Sporadically, Seldom, Unusually, Never
Example: He has a record as long as your arm and almost invariably escapes meaningful punishment.
3. Pervasive(adjective) व्यापक/ प्रसारित हो जानेवाला/ फैलनेवाला : Existing in or spreading through every part of something.
Synonyms: Prevalent, Ubiquitous, Widespread, Universal, Rife, Omnipresent
Antonyms: Localised, Limited, Parochial, Rare
Example: This phenomenon is not just limited to a few companies, but is widespread and pervasive.
4. Perishable(adjective) नष्ट होनेवाला/ खराब होने वाला : Liable to spoil or decay. (Goods such as food that are perishable go bad after quite a short length of time.)
Synonyms: Decomposable, Biodegradable, Mortal, Ephemeral, Transient
Antonym: Perdurable, Imputrescible, Indestructible, Imperishable
Example: A former shopkeeper has been fined for having perishable food on sale past its use-by date.
5. Grasp(verb) कसकर पकड़ना/ बुद्धि/ कोई जिसके सुझावों को नजरअंदाज कर दिया जाता है: Seize and hold firmly or to understand something. (If you grasp something, you take it in your hand and hold it very firmly.)
Synonyms: Grip, Clasp, Clutch, Apprehend, Comprehend, Assimilate
Antonyms: Release, Misunderstand, Relinquish
Example: They had also failed to grasp public unease about the growing pressure on jobs and public services.
6. Moan(verb) विलाप/ अफ़सोस करना : To make a long, low sound because of pain or suffering, or to say something in a complaining way: (If you moan, you make a low sound, usually because you are unhappy or in pain.)
Synonyms: Groan, Wail, Grumble, Lament, Gripe
Antonyms: Gloat, Rejoice, Chortle, Exultation
Example: Twitter users hit out at him yesterday after he moaned about noisy infants on planes..
7. Demise(noun) वसीयत करना/ निधन/ देहांत : End or death of something or someone. (The demise of something or someone is their end or death.)
Synonyms: Expiration, Dissolution, Quietus, Cessation, Succumb
Antonyms: Birth, Commencement, Inception, Genesis, Nativity
Example: What is the reason for the apparent demise of the central institution of democracy, parliament?
8. Emanate(verb) निर्गत होना/ उद्भव होना/ उत्पन्न होना : To come out from a source. (If a quality emanates from you, or if you emanate a quality, you give people a strong sense that you have that quality.)
Synonyms: Exude, Gush, Radiate, Emerge, Arise, Spew
Antonyms: Conceal, Hold, Withdraw, Absorb
Example: Her touch at his arm seemed to emanate a warmth which spread from there and throughout his body.
9. Foray(noun) आक्रमण/ एकाएक चढ़ाई/ धावा : A short involvement in an activity, an area, or a market that is different from a person or company’s usual one/ a sudden attack on and entrance into hostile territory.
Synonyms: Maraud, Sortie, Sally, Raid, Pillage
Antonyms: Defence, Retreat
Example: He even makes a brief foray into the Italian rap scene, which is mostly left-wing and mostly political.
10. Venture(noun) जोखिम का काम/ सट्टेबाज़ी/ व्यापार : A new activity, usually in business, that involves risk or uncertainty: (A venture is a project or activity which is new, exciting, and difficult because it involves the risk of failure.)
Synonyms: Gamble, Hazard, Speculation, Jeopardize, Undertaking
Antonyms: Assurance, Certainty, Surety
Example: Managers would be encouraged to push ahead with new ventures and capital spending plans.
11. Impetus (noun) प्रेरणा / प्रोत्साहन / शक्ति: Something that gives a process impetus or an impetus makes it happen or progress more quickly.
Synonyms: Momentum, propulsion, impulsion, motive force, driving force, drive, thrust, energy, force.
Antonyms: Discouragement, hindrance, block.
Example: The power of the Western media in lending impetus to a popular cause is palpable.
Word of the Day – “Humane”
- Humane (adjective) मानवीय, मानवोचित, सहृदय, दयापूर्ण, दयामय, दयालु, सांस्कृतिक, सुरुचि-सम्पन्न
- Meaning:- The action of returning something to a former owner, place, or condition.
- Synonyms: Compassionate, kind, considerate, understanding, sympathetic, tolerant, lenient, forbearing
- Antonym: Merciless, unsociable, unfeeling.
- Example: The NGOs world over are demanding that while treating the poor patients, a more humane attitude should be adopted by the hospital authorities.
- उदाहरण: विश्व भर में गैर सरकारी संगठन इस बात की मांग कर रहे हैं कि निर्धन रोगियों का उपचार करते समय अस्पताल अधिकारियों द्वारा अधिक मानवीय रवैया अपनाया जाना चाहिए।
Quote of the Day
“A man can succeed at almost anything for which he has unlimited enthusiasm.” Charles Schwab
“असीमित उत्साहवान व्यक्ति लगभग प्रत्येक कार्य में सफल होता है।” चार्ल्स श्वैब
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