1.         Western Australia seeks skilled migrants from India:  From cooks, welders, plumbers, hairdressers, electricians, to engineers and accountants, the State of Western Australia is facing a shortage of skilled labour and professionals, and is keen on getting more skilled migrants from India.  Some 43000 jobs would be created in the next ten years.  Apart from the requisite academic qualification and experience, knowledge of English is essential for such migrants.  (The Hindu 30 November 2006 p.8)

 2.         Indian Diaspora in Australia:  25 per cent of skilled migrants in Australia are Indians.  (The Week 10 December 2006, p.4)

 3.         From the youth mart:  Given its demographic bulge, India has become the perfect source for supplying skilled workers to rich, but ageing countries, which are running out of young people.   Uk needs 500000 immigrants over the next five years.  Immigration become a matter of survival for the UK.  It is a story that can be replicated across many countries. 

Only 10% of the eligible Indian population gets a college education in India.  In numerical terms it is 7.23 million.  Another 0.13 million study in foreign universities.  This sizeable and constantly expanding number of Indians is available as the global work force.   India's 'global takeover' of offices across the world is the natural outcome of the ageing post-World War II "baby boomer" generation.  (Urmi A Goswami, The Economic Times, 11 December 2006, p.11)

 4.         For Home, A Fistful of Dollars: India’s Diaspora estimated to be 25 million is sending money back to India that is changing lives of millions as never before. Indians have displaced China and Mexico in remittance.  In 2001-2002 the remittance was 13 billion dollars and now it stands at 24.5 billion dollars.  Most of the remittance money is used for subsistence. 

There is demand also for consumer goods in the regions where there is large scale migration like:  Trichy, Doaba, North Kerala, Andhra Pradesh and now Eastern Uttar Pradesh, Bihar and West Bengal.  The dollar flow has helped rupee to stay strong despite a ballooning current account deficit.  (Malini Bupta, India Today, 25 December 2006, p. 60-62)

III        Global

1.         Richest one per cent owns 40 per cent of world's wealth:  The richest one per cent of adults in the world owns 40 per cent of the planet's wealth, according to the largest study yet of wealth distribution. The report also finds that those in financial services and the internet sectors predominate among the super rich.  

Europe, the United States and some Asia Pacific nations account for most of the extremely wealthy. More than a third of these individuals live in the U.S. Japan accounts for 27 per cent of the total, the United Kingdom for 6 per cent and France for 5 per cent.   The U.K. is also third on the list in terms of per capita wealth. U.K. residents are found to have on average $127,000 each in assets, with Japanese and American citizens having, respectively, $181,000 and $144,000. All data relate to the year 2000.  

The global study; from the World Institute for Development Economics Research of the United Nations — is the first to chart wealth distribution in every country as opposed to just income. It included all the most significant components of household wealth, including financial assets and debts, land, buildings, and other tangible property. Together these total $125 trillion globally.  The research team used detailed data from 38 countries, but had to rely on incomplete information from the rest. 

The report found the richest 10 per cent of adults accounted for 85 per cent of the world total of global assets. Half the world's adult population, however, owned barely one per cent of global wealth.

Near the bottom of the list were India, with per capita wealth of $1,100, and Indonesia with assets per head of $1,400.  Many African nations as well as North Korea and the poorer Asia Pacific nations were places where the worst off lived. It is impossible to justify such vast wealth when 800 million people go to bed hungry every night.  (James Randerson, http://www.hinduonnet.com/2006/12/07/stories/2006120707601100.htm assessed on 6th December 2006)
 
2.         World of Want:  Almost half the world survives on $2 a day.  1 Billion people in the world cannot read or write.  1.2 billion people lack safe drinking water.  About 50000 people die a day due to poverty related causes.  800 million people go to bed hungry every day.  35% of world’s poor live in India.  (Sunday Times, 17 December 2006, p.8)

 3.         $ 10160 per year is poor in US?  That’s rich:  According to US Government guidelines, as of 2006, an individual with an annual income of less than $ 10160 or a family of two with annual income of less than $13078 is considered to be below poverty line.  This translates to about Rs. 37600 per month for an individual, which is upper income group in India.  The Indian measure for determining poverty is absolutist. 

Official estimates of the poverty line is based on the norm of intake of 2400 calories per capital per day in rural areas and 2100 calories in urban areas.  That means a person with Rs. 600 as monthly income is considered to be above poverty line.  The World Bank defines extreme poverty as living on less than $1 a day and moderate poverty as less than $2 a day.  In US 46% of those who live in poverty own homes. (Chidanand Rajghatta, Sunday Times, 17 December 2006, p.8)

 WORD FROM THE EDITOR - Rev. Dr. JN Manokaran

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