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<ul><li>Hyderabad may not have drinking water in the next 48 days. </li><li>A sluggish monsoon that brought little rainfall in Telangana state, has put Hyderabad at the brink of a <keyword id="6355836" type="UNKNOWN" weightage="20" keywordseo="water-crisis">water crisis</keyword>. </li><li>It could affect its 6.8 million residents. </li></ul>India’s worst ever water crisis might cripple the twin cities of Hyderabad and Secunderabad — in the next 48 days. A sluggish monsoon that brought little rainfall in Telangana state, has put its capital — Hyderabad— at the brink of a water crisis. And, it could affect its 6.8 million residents. Since July 1, Hyderabad district witnessed 115.1 mm of rainfall. But it is 29% lower than its normal rainfall,<a href="https://www.thenewsminute.com/article/water-crisis-looming-over-hyderabad-telanganas-reservoirs-run-dry-105433"> said Telangana State Development Planning Society. </a> “If monsoon plays truant, there is every likelihood of Hyderabad facing water crisis from the second week of September,” said an official to Times Of India. This will be the second city that will be in trouble after Chennai ran out of water, forcing its government to bring in water using train wagons. All the four reservoirs of Chennai ran dry, leaving its residents scrambling for<a href="https://www.businessinsider.in/five-years-on-india-may-not-even-get-a-chance-to-solve-its-on-going-water-crisis-risking-hundreds-of-millions-of-lives/articleshow/69988627.cms"> water to drink.</a> Drying Reservoirs There are two primary sources of water in Hyderabad — the Nagarjuna Sagar reservoir (River Krishna) and the Yellampalli reservoir (River Godavari). Water levels at both these reservoirs are dangerously low, spreading fears of an acute water crisis. In spite of the rains, there isn’t any fresh water from any of the sources including the twin reservoirs of Osman Sagar and Himayat Sagar. The state authorities are hoping that rainfall in the next two-three weeks can restore the situation back to normal. In case the water level doesn’t rise, the state authorities will have to prepare an emergency action plan that involves pumping out water from reservoirs. Nation-wide crisis The government think tank NITI Aayog believes that 21 of the country’s major cities will be devoid of groundwater by 2020, affecting 100 million people. It named New Delhi, Bengaluru, Chennai and Hyderabad in its list. Water has been a cause for stress in the country. While most cities are in want of water, others are facing an excess. <a href="https://gulfnews.com/world/asia/india/heavy-rain-and-floods-in-indias-assam-kill-10-displace-more-than-1m-1.65208377">Floods in Assam </a>have displaced a million people, and killed eleven as the state continues to face problems. Experts are calling for privatising water supply as a cost-effective measure that can bring in efficiencies into water management. “Mumbai loses 25% of its water to leakage and theft. Similarly, 37% of the water leaks out of Bangalore’s pipelines. Politicians and bureaucrats receive water in their own homes, and receive their salaries regardless of how poorly they perform their duties. Not surprisingly, they see no need to improve. <a href="https://www.scmp.com/comment/opinion/article/3012374/indias-worst-ever-water-shortage-and-corruption-surrounding-it-can">an economist wrote in the South China Morning Post</a>.” See also: <a href="https://www.businessinsider.in/the-first-special-train-carrying-more-than-2-million-litre-of-water-reaches-chennai/articleshow/70192058.cms">The first special train carries 2 million litres of water to Chennai — but the quick fix might not solve its problems</a> <a href="https://www.businessinsider.in/five-years-on-india-may-not-even-get-a-chance-to-solve-its-on-going-water-crisis-risking-hundreds-of-millions-of-lives/articleshow/69988627.cms">Five years on, India may not even get a chance to solve its on-going water crisis risking hundreds of millions of lives</a>

India’s water crisis deepens as Hyderabad might run out of water, like Chennai

<ul><li>In recent years, Bhumi has stepped onto a bigger stage – one where the spotlight shines on environmental and climate awareness. </li><li>Acknowledging her efforts, the <keyword id="19984049" type="General" weightage="20" keywordseo="UNDP" source="keywords">UNDP</keyword> named her as India's first National Advocate for <keyword id="19950641" type="General" weightage="20" keywordseo="sustainable-development-goals" source="keywords">Sustainable Development Goals</keyword> (SDGs).</li><li>In an exclusive interview with <keyword id="21390875" type="General" weightage="20" keywordseo="Business-Insider-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Business Insider India" meta.hostid="261" meta.entityid="Business Insider India">Business Insider India</keyword>, <keyword id="19939209" type="General" weightage="100" keywordseo="Bhumi-Pednekar" source="keywords">Bhumi Pednekar</keyword> spoke about her struggles with eco-anxiety and her take on the <keyword id="20000756" type="General" weightage="20" keywordseo="climate-action" source="keywords">climate action</keyword>.</li></ul> Lights, camera, Earth! When we first saw Bhumi Pednekar in Dum Laga Ke Haisha in 2015, we witnessed her impressive acting skills and her ability to connect with the audience. With time, she grew into a formidable presence on the Indian cinema landscape, paving the way for socially-aware, yet entertaining filmography. In recent years, this Bollywood superstar has stepped onto a bigger stage – one where the spotlight shines on environmental and climate awareness. In a world where the spotlight often blinds stars to the sufferings of the planet and its people, Bhumi reminds us that every person on this planet needs to keep that spark for eco-consciousness alive. In an exclusive interview with Business Insider India, Bhumi Pednekar spoke about her struggles with eco-anxiety during her early years, her efforts to strike a balance between her professional career and environmental responsibilities, her advice for the younger audience, and her take on the climate action across the globe. <a href="https://www.youtube.com/watch?v=QDxplE0_Os4" data-type="tilCustomLink">Catch the full interview here!</a> <div type="image" title="Actress Bhumi Pednekar" agency="Business Insider India" msid="109502773" hostid="261" caption="&amp;lt;p&amp;gt;Actress Bhumi Pednekar&amp;lt;/p&amp;gt;"></div> “When I started my climate journey, it was a very lonely path for me, Every time I spoke about it, people made fun of me. Eventually, through the years, I met like-minded people, and I realised that this is a real problem. Even today, I get really worried, I have bouts of anxiety and go into a spiral that you know, what will happen now and so on. In such times, what truly helps me is to actually do something towards dealing with the problem,” says Bhumi. Acknowledging her efforts to spread awareness on these critical topics, the United Nations Development Programme (UNDP) named her as India's first National Advocate for Sustainable Development Goals (SDGs). Just last month, the World Economic Forum (WEF) recognised her as a Young Global Leader (YGL). On <keyword id="21293562" type="General" weightage="20" keywordseo="Earth-Day" source="keywords">Earth Day</keyword> 2024, she also joined UNDP’s global initiative called the ‘The Weather Kids’ — a global campaign to raise awareness about climate change and drive the world towards taking meaningful climate action. Talking about the campaign Bhumi Pednekar stated, "I’m deeply disturbed by Climate Change and the impact that it is having the world over. I have dedicated my life to working on this and helping raise awareness… I have always been committed to using my platform to raise awareness about the urgency of climate action and to empower individuals and communities to adopt sustainable practices. Together, we can make a difference and create a more sustainable and resilient world for future generations.” Further, Bhumi’s role as a <keyword id="21390874" type="General" weightage="20" keywordseo="climate-warrior" source="keywords">climate warrior</keyword> has also seen her collaborating with activists and institutions nationwide, amplifying their voices and supporting initiatives focused on environmental preservation and climate action. As an ardent advocate for environmental and climate action, she has effectively utilised her fame to champion causes like waste segregation, rainwater harvesting, recycling, and conscious fashion choices. <div type="image" title="Actress Bhumi Pednekar" agency="Business Insider India" msid="109503174" hostid="261" caption="&amp;lt;p&amp;gt;Actress Bhumi Pednekar&amp;lt;/p&amp;gt;"></div> “Climate Warrior, which is our nonprofit, is an advocacy platform I started in 2019. The idea was to bring all the work of creating awareness under one umbrella. And then we started the Bhumi Foundation, through which we are again just trying to streamline everything that we do, we have not opened it up for others to come in and work,” said Bhumi, encouraging younger generations to also find their own tribe to influence and drive change. The theme for today’s World Earth Day 2024 is Planet Vs Plastic, and it is time for all of us to gauge our individual and collective impact on our environment and try to reduce it. “One big thing that we can do is to look for and support businesses that are trying to go green and create a positive impact on our planet. If investors support such businesses, and consumers pick such products, our carbon footprint can be lesser,” explains Bhumi. “Every day is Earth Day. This is our only home, there is no alternative, and there is no plan B! The way we show empathy and sympathy towards our loved ones, we should show empathy towards everybody else that we share this planet with. It really breaks my heart when you see on the news that a major city like Bangalore is still witnessing a water crisis and our capital city Delhi has winter days where schools are canceled because of the pollution. We are all in this together, we all are a part of the problem. And we all need to be a part of the solution as well,” concludes Bhumi. Disclaimer: The opinions expressed are of the interviewee and do not necessarily reflect the views of Business Insider India. The excerpts has been partly edited for length and clarity.

Earth Day 2024: Actress Bhumi talks about 'Pednekar ke ped', ostrich mentality, climate anxiety and more

Technology is helping enterprises meet their sustainability goals In March, in Antarctica, an ice shelf the size of New York City collapsed due to record high temperatures. It is just one of the symptoms of the climate crisis that affects all of us. Already, millions of people have had their homes or businesses damaged and some are losing their lives in fires, floods, droughts, and storms. Climate crisis is here, and we need to act with urgency because the future of climate change is in our hands. The global pandemic has been a wake-up call for enterprises to consider environmental sustainability as a business imperative. Business Insider India caught up with Dr. <keyword id="14327015" type="General" weightage="50" keywordseo="tanya-morton" source="Orion">Tanya Morton</keyword>, the worldwide director of customer success engineering for <keyword id="1682531" type="General" weightage="80" keywordseo="mathworks" source="Orion">MathWorks</keyword>, to understand how organizations are leveraging emerging technologies like artificial intelligence to achieve their environmental sustainability goals. Tanya has worked at the forefront of innovation, engineering, and science for over 26 years. She is passionate about sustainability and leads an initiative to support MathWorks customers in understanding and tackling climate change. Edited excerpts: The ongoing global climate crisis is a serious cause for concern for individuals and businesses alike. Quite reasonably, sustainability is a core priority for enterprises in post-pandemic recovery. What do you think is the impact of this crisis on companies’ sustainability goals today? The impact is significant. It is great to see how many companies are starting to take action to address the climate crisis. <keyword id="87266" type="General" weightage="50" keywordseo="stakeholder" source="Orion">Stakeholder</keyword> capitalism imagines corporations as being responsible not only to their shareholders but to their employees, suppliers, communities, and the environment. For example, over 5,000 businesses have signed up for the Race to Zero global campaign and have committed to achieving net zero carbon emissions by 2050. It is part of a growing movement to re-examine how companies operate—and for whom. To ensure a sustainable future, all companies need to increase their actions to address climate change. That is why MathWorks is committed to becoming carbon neutral by 2023. Tell us about how AI is helping organizations accelerate global sustainability efforts? AI and Cloud technologies accelerate climate research and help us fully understand the scale and extent of the climate crisis. An example I recently covered in my talk at MathWorks’ flagship event, MATLAB EXPO, was about drought. Drought is devastating to crop harvests and can make local communities vulnerable, both from a health perspective and economically. Researchers studied a river basin in Ethiopia and used AI to better predict when drought may occur. This allows communities to be better supported through difficult times. AI also plays a key role in reducing greenhouse gas emissions. For example, AI applied in food systems can help better monitor crop yields, reduce the need for chemicals and excess water through precision agriculture, and minimize food waste through forecasting demand and identifying spoiled produce. AI also supports the megatrend called the electrification of everything that is critical to reducing greenhouse gas emissions. The electrification of everything refers to the twin pair of generating electricity from renewable sources, then using electricity as the primary energy source. AI supports renewable energy generation, for example, via the design of more efficient and reliable offshore wind farms. It supports the efficient usage of electricity too, for example, machine learning is being used to match energy generation and demand in real-time, realizing more fully the potential of smart grids. MathWorks’ MATLAB and Simulink are used by millions of engineers and scientists to analyze data, develop algorithms, and create models. How do these products help companies meet their sustainability goals? Researchers and developers worldwide are analyzing trends and designing solutions in response to climate change with MATLAB and Simulink. You can view their work, including clean energy products, scientific papers, and financial models on MathWorks climate research and development webpage. With MathWorks tools you can computationally model energy generators and storage devices such as wind turbines, batteries, and solar panels. It can be dangerous and expensive to do research and testing with the real system - you don't want battery fires or snapping turbine blades. Modelling and simulation can help plug this gap. Can you give us some examples of that? An example of MathWorks helping bring green technologies to market is through our work with Ather, an electric two-wheeler company from Bangalore. When the company began, they did not have the time, money, or people to build prototypes for each vehicle. This problem was solved by using MATLAB and Simulink to scale up the speed of testing. Ather scooters come equipped with a touchscreen GPS, remote diagnostics based on data patterns of other users, and an intelligent battery that can autonomously change modes to ensure the highest efficiency. With MATLAB, Simulink, and Model-Based Design, the company identified and validated the best ideas through simulation, making it possible to deliver a more full-featured scooter in less time. Another startup, Boston Metal, introduced groundbreaking technology aimed at producing steel in a more sustainable and cheaper way. The patented technology, <keyword id="14327016" type="General" weightage="50" keywordseo="molten-oxide-electrolysis" source="Orion">Molten Oxide Electrolysis</keyword> (MOE), replaces traditional processes through the use of direct electric current to separate chemical compounds. Boston Metal’s method produces liquid iron with a byproduct of oxygen instead of carbon, a cleaner and simpler process. You spoke about electrification earlier. Could you give us insights into MathWorks’ electrification efforts for climate change issues across sectors such as automotive, energy, <keyword id="6354525" type="General" weightage="50" keywordseo="healthcare" source="Orion">healthcare</keyword>, etc.? There is a growing demand for engineers to meet the worldwide demand for electric vehicles (EVs). To address this, MathWorks along with Bosch and NIT Calicut jointly created and delivered a new final-year undergraduate course, Electric Vehicle System Engineering. This is a good example of collaboration between academia and industry to address the talent shortage. We work with various industry associations to deliver professional development programmes for working professionals to help build skills around electrification. Many incubators and accelerators across the world have been partnering with us through the MathWorks Accelerator Program. We have signed memorandums of understanding (MoUs) with governmental organizations like Atal Innovation Mission (AIM), Ministry of Electronics and Information Technology (MeitY) and Software Technology Parks of India (STPI) to extend this to hundreds of accelerators across the country. We are seeing several start-ups, including those in areas like two-wheeler electric vehicles, healthcare, and sustainable engineering, accelerating their product development through the benefits offered through this programme. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/tech-architecture-is-becoming-business-architecture-enterprises-recognize-that/articleshow/92561395.cms">‘Tech architecture is becoming business architecture, enterprises recognize that’ </a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/indian-credit-card-users-spend-40x-more-than-debit-card-users-online/articleshow/92543305.cms">Indian credit card users spend 40x more than debit card users online</a>

AI aids the megatrend of electrification of everything which can reduce GHGs

<ul><li><keyword id="14509" type="PERSON" weightage="20" keywordseo="Rajinikanth">Rajinikanth</keyword> is one of the most loved and highly-paid actors in Asia, who holds a mass appeal.</li><li>His unique sense of dialogue delivery and the swiftness of his actions helped create the brand ‘Rajinikanth’.</li><li>Earlier this week, Rajinikanth said that he is disbanding his political party.</li></ul>Sivaji Rao Gaekwad has had it tough, early on in his life. After schooling, he took up various jobs and worked as a carpenter, coolie and finally a bus conductor in Bangalore. Born in Bangalore in 1950, Gaekwad worked as a bus conductor in the 1970s before he made his debut in Tamil cinema in 1975 with the film Apoorva Ragangal. Gaekwad was reincarnated as Rajinikanth. But this story is not about his filmography. This is an effort to look back at his complete volte-face on politics. Earlier this week, the Dadasaheb Phalke award winner said that he has disbanded his political party putting an end -- seeming once and for all -- to his noncommittal tryst with politics. In Tamil Nadu, movie stars taking a plunge into politics has always been a norm. Movie stars like J Jayalalithaa and M G Ramachandran, commonly known as MGR, have been chief ministers of the state representing the All India Anna Dravida Munnetra Kazhagam (AIADMK). AIADMK’s rival Dravida Munnetra Kazhagam’s (DMK) former leader, late M. Karunanidhi also wrote scripts and dialogues for films. So, when it came to Rajinikanth, the public expected him to follow the same path. He first dipped his toe into the arena back in 1996, by campaigning against the then chief minister Jayalalithaa. His speech against the former actress stated, “If Jayalalithaa is voted back to power, even God cannot save Tamil Nadu," causing shockwaves and leading to the defeat of the AIADMK in the elections that year. Bus conductor, movie superstar and people’s favourite Rajini’s appeal to masses comes from his encapsulation of the working class and labourers in the roles he chooses. For example, in his film Muthu, one of the songs — Oruvan Oruvan Mudhalali — talks about the role of equality and humanity. Another song Naan Autokaran from the movie Baashha captured the attention of the auto drivers association as the song praised the community. While his mass appeal and stardom in south India helped the DMK in the 1996 Assembly Election, it was not the same in 1998 when the General Elections took place. The DMK was only able to secure 9 seats out of 39. Since the defeat, Rajini has steered clear of politics for more than six years and focused on his film career and personal life. Political and ‘not so’ political phase After the failure he faced in the 1998 general elections, in 2004 he entered into politics again by raising his voice against the Pattali Makkal Katchi (PMK) and supported the AIADMK-BJP (Bharatiya Janata Party) alliance as PMK had created a big ruckus against his film ‘Baba’. Though Rajinikanth did not change his opinion on Jayalalithaa, he supported the alliance thinking that the BJP will work for ‘linking all the rivers in the country’ to solve the drinking water crisis. His efforts against PMK was all in vain once again as the party won only 5 seats in the Lok Sabha election. Later in the same year, the BJP-AIADMK alliance was not able to win even a single seat in the state assembly election that followed. Meanwhile, he was changing the trend and style of Tamil cinema with his mannerisms and unique dialogues. “Nan oru thadava sonna nooru thadava sonna madhiri”, (If i say it once, its equivalent to having said it a hundred time) -- a punch dialogue from the movie Baashha and “En vazhi thani vazhi”(My way is a unique way) from Padayappa are something which people celebrate even today. Rajinikanth goes through a crisis The Tamil Superstar was about to appear in Rana, a period film to be produced by his daughter Soundarya Rajinikanth and directed by K. S. Ravikumar. But he suffered a mild foodborne illness in the sets for which he had to undergo medications. After that he was rushed to St. Isabel's hospital, in Chennai, for breathlessness and fever. He was also admitted to the Sri Ramachandra Medical College and Research Institute in the month of May for respiratory and gastrointestinal problems. In this phase Rajinikanth was completely hospitalised and did not indulge in politics much except for his support to the AIADMK in the Tamil Nadu Assembly Elections in 2011. In 2014, his political stature grew as Prime Minister Narendra Modi met the actor at his residence before the general elections. Both of them denied that there were no political indications in the visit, but it seemed like both held each other in great regard. After that the BJP put in all the efforts to make Rajinikanth join the party thinking about his stardom and the 1996 elections. <div type="image" title="Graph of his political journey" msid="84464061" hostid="261"></div> Finally the wait was over He started to meet his fans across Tamil Nadu and gave a hint that he was entering politics in 2017. Just before the New Year, he organised a fan meet-and-greet — an event went on for six days. Fans from more than 20 districts were present at the meet. Finally, he addressed the gathering at the Raghvendra hall in Chennai on December 3, 2017 where he opened up about his entry into politics. Soon after his announcement, the ‘Rajini fans welfare association’ was transformed and established as a political party named ‘Rajini Makkal Mandram’. He visited the Himalayas for his movie ‘Baba’ which was released in the year 2002 and started to breathe spirituality back into his life and this was regarded as the reason he chose the ‘Baba symbol’ as the logo for the mandram. However, he has always mentioned that he will be into “spiritual politics”. U-turn happened Even after his announcement regarding the entry to politics, Rajinikanth decided not to take part in the 2019 general elections and also clearly said that his party, Rajini Makkal Mandram will not support any political party in the Lok Sabha elections. Rajnikanth finally ended the suspense and tweeted on 3 December, 2020 that he will bring back his political party in January 2021. The people were expecting the Rajini Makkal Mandram, to take part in the 2021 state election in Tamil Nadu. He also stated that the public wants transparent, honest, corruption-free, secular, caste-less, and spiritual politics. Chaos comes to an end Though he nodded yes to politics, the superstar of Tamil cinema, announced clearly on July 12, 2021 that he has no plans to enter politics, after a discussion with the ‘Rajini Makkal Mandram’. He also added that the Mandram has been dissolved. A separate meeting happened with the party authorities in the Raghavendra Mandapam (hall) in Kodambakkam on 12 July, after which the actor announced his decision in a press meet. He stated that the party will be back to ‘Rajinikanth Fans Welfare Association’ with the same members. In his Twitter account, he released a notice announcing the decision. He also added that he has been under medication and has been to the US for medicinal examinations followed by the shooting of his upcoming film Annaatthe, which is why he will not be able to concentrate on politics anymore. <a href="https://pbs.twimg.com/media/E6Es1NbUUAALiUq.jpg">https://pbs.twimg.com/media/E6Es1NbUUAALiUq.jpg</a> After this announcement, it seems pretty clear that the actor has shut the door forever. SEE ALSO - <a href="https://www.businessinsider.in/tech/news/netflix-plans-to-add-video-games-to-its-categories/articleshow/84433119.cms">Netflix will reportedly add video games on its platform ‘within the next year’</a> <a href="https://www.businessinsider.in/business/corporates/news/just-dial-share-price-surge-as-mukesh-ambani-is-looking-to-buy-just-dial/articleshow/84432450.cms">As Mukesh Ambani reportedly dials in, Just Dial stocks surge 3%</a>

The political flip-flops of Superstar Rajinikanth over the last three decades

In the first week of September Saurabh Mukherjea, CEO, Institutional Equities, Ambit Capital became one of the first <keyword id="47445" type="UNKNOWN" weightage="20" keywordseo="Indian-market">Indian market</keyword> analysts to say 30-share benchmark index <keyword id="6484188" type="CITY" weightage="20" keywordseo="Sensex">Sensex</keyword> may fall deeply to touch 22,000, triggered by weakness in the home territory, uncertainty on China's yuan devaluation and possible interest rate hike by the US Federal Reserve. 
 
Close to four months later, the index is yet to touch 22,000. However, it has declined more than 20 per cent from the peak of 29,682 seen on January 29, 2015 and has already breached the psychologically significant 24,000 level to touch 23,962 on January 21, 2016. 
 
This was the biggest dip in more than 20 months and ever since Narendra Modi-led BJP government came to power, kindling hopes of an decisive economic revival and an exceptional market run. 
 
In the September report, Ambit Capital said a few things will play spoilsport for the domestic market. 
 
With a likelihood of the Chinese central bank embarking on a continued devaluation of the yuan, the Indian stock market will be exposed to domestic products losing their competitiveness to their Chinese counterparts; and risks to India’s $0.5 trillion of foreign currency debt are likely to rise, it said, adding this is likely to drag Sensex to a deep fall. 
 
Till a few months ago, many felt that Sensex dipping below 24,000 is an unlikely event. 
 
But the carnage in the once bellwether Chinese market—that provided a cushion to the world economy when sub-prime mortgage crisis in the US ballooned to a crippling global slowdown in 2008—in recent months and resultant ripples in Europe and elsewhere has already taken its toll on the Indian market. 
 
The huge outflow of funds from emerging markets, especially India, following Janet Yellen-led Federal Reserve’s December decision to raise interest rates after a long gap of close to 10 years coupled with the free fall of oil prices that tumbled to below $30 level, added fuel to the fire. 
 It is true that weak corporate earnings are an indicator of the choppy waters the markets are already in. However, the weak demand in Indian <keyword id="6354553" type="COMPANY" weightage="20" keywordseo="real-estate">real estate</keyword> across cities is a more representative pointer to the trouble the broader economy is facing. With extremely low sales, realty is crumbling and this can have significant repercussions. 
 
While markets like Bangalore and Pune managed to keep heads above water, Delhi-NCR and Mumbai have reported worst sales number in recent history, pointing to piling inventory which may take years to clear up and slumping demand. The still astronomical realty pricess in a market like Mumbai will continue to keep prospective home-buyers from testing the waters. While the developers have started cutting prices in order to boost sales, the banking sector will face the brunt of it in terms of bad assets. 
 
An increasing number of developers finding themselves in the dock after defaulting on delivery datelines and facing rising number of cheating cases will add salt to the wound of the realty space. 
 
The recent court rulings against top management of Mantri Realty and Unitech are just examples. While the Bombay High Court asked an official liquidator to seize assets, books and records of Mantri Realty in connection with a cheating filed by a bunch of investors and lenders, a Delhi court sent Unitech chairman Ramesh Chandra to 14-day judicial custody in alleged cheating cases filed by two investors. 
 
As regulators clamp down on defaulting developers and trust-deficit continues to keep home-buyers way, battering realty space can widen cracks in the economy, aggravating the pain the markets are already going through. 
 
Ambit Capital’s early premonition should be read along with a global outlook for the year ahead released recently by Henry McVey, head of global macro asset allocation at New York-based alternative assets management firm KKR &amp; Co. 
 According to McVey, decelerated <keyword id="176734" type="ORGANIZATION" weightage="20" keywordseo="global-trade">global trade</keyword> will impact <keyword id="47890" type="ORGANIZATION" weightage="20" keywordseo="global-economy">global economy</keyword> more than more than China’s slowdown. The current slump in both trade and cross-border fund flows will have huge implications for the global economy over the next three to five years as economies become more inward facing to drive growth, KKR’s outlook stated. 
 McVey is just one among a litany of analysts who warn against the disturbing trend of a fall in nominal <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> in several countries, especially emerging ones, despite real GDP growing at healthy rates. An increasing number of corporates reeling under mounting debt is yet another pointer of underlying weakness across economies. 
 However, compared with several developed markets including the US, where incomprehensive regulations are cited as a chink in armour, Reserve Bank of India has historically been religious in enforcing strict regulations to tame volatility in the market. Also, despite the recent market dip, the underlying strength of <keyword id="6356076" type="UNKNOWN" weightage="20" keywordseo="indian-economy">Indian economy</keyword> is still intact. Therefore, if the Modi government refuses to dilute its focus on reforms, the domestic market is stoic enough to rebound once the bears loosen the grip over the medium term. 
 
(Image: Indiatimes)

Sensex at 20-month low: Why bears may lurk around for a while

The <a href="http://www.businessinsider.in/searchresult.cms?query=chennai+rains">Chennai rains</a> have left <keyword id="6379816" type="UNKNOWN" weightage="100" keywordseo="Telecom-operators">telecom operators</keyword> suffering with most of them incurring losses to the tune of Rs 300 crore. It has compelled Finnish network gear maker Nokia to stop production of 3G and 4G gear at its nearby factory. 
 
China's biggest telecoms gearmaker <a href="http://www.businessinsider.in/searchresult.cms?query=Huawei+">Huawei</a> also said the "flood situation had affected its Chennai factory", which purely caters to export markets such as China, Asia Pacific and the Middle East. 
 
"Out of the Rs 300 crore losses estimated by Cellular Operators Association of India (COAI), Rs 100 crore is on account of network restoration and Rs 200 crore on account of revenue losses over the past seven days," Rajan Mathews, director general of the GSM industry lobby body, said. 
 
Chennai continues to reel under the worst rains in over a century with the death toll from flooding in the southern Indian city reportedly mounting to nearly 270. This has prompted the National Disaster Response Force (NDRF) to intensify relief and rescue operations in the flood-battered city and adjoining areas. So far, it has reportedly rescued over 10,000 people. 
 
Global network vendors such as Nokia and Huawei, who have a large manufacturing presence near Chennai, have been hit hard by the floods. 
 
Nokia said it had been compelled "to temporarily stop production at its factory" in Chennai's outskirts over the past couple of days to "prioritise safety of its employees and equipment". Some 1300 people work in Nokia's Chennai factory. 
 
Nokia's Chennai works, which is amongst its key factories globally, meets the 3G and 4G network gear requirements of the India and as many as 26 export markets across continents. 
 
A senior industry executive aware of the devastation said Nokia is closely working with its global factories in China and Finland to balance production volumes and bridge the Chennai production shortfall for meeting global customer requirements. Since Nokia follows a global supply chain, processes are in place to ensure customers can be served from its other global factories, he said. 
 
"Nokia India is also changing inbound and outbound shipping points to Bangalore instead of Chennai," and taking steps to "organise alternate shipments of raw material to ensure minimal disruption to production in times of crisis like this," said a company spokesman in a written response to ET's queries. 
 
Huawei, in turn, said the company had "established emergency support teams to ensure staff safety, equipment safety, network and services safety, as well as to communicate with customers in response to the heavy flooding in Chennai". 
 
Huawei has an existing SEZ in Chennai where it manufactures optical network transmission systems purely for export markets like China, APAC and the Middle East. 
 
China's leading telecom gear maker did not confirm if production at its Chennai unit had come to a standstill, but said "the factory has been affected by the flood situation", in response to ET's queries. 
 
The deadly floods have severely damaged telecoms infrastructure and impacted networks across all operators in a huge way. So much so, <a href="http://www.businessinsider.in/searchresult.cms?query=Bharti+Airtel">Bharti Airtel</a>, <keyword id="6354924" type="PERSON" weightage="100" keywordseo="Idea-Cellular">Idea Cellular</keyword> and <a href="http://www.businessinsider.in/searchresult.cms?query=Vodafone">Vodafone</a> India have been struggling to keep their services going amid the incessant downpour and floods in the vicinity. 
 
Unavailability of grid power, water-logging resulting in submerged sites and unavailability of diesel in the absence of transportation have been listed as major roadblocks in network operations in affected areas. All telcos are also facing problems in certain areas while restoring operations because of inaccessibility to the affected sites. 
 
(Image credit: Economic Times)

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