Letters to the Editor – The Hindu BusinessLine

Adani’s debt problems

This is related to the news report “Adani promoters, foreign banks to provide funds to repay debt”. It should be noted that while the Adanis’ debt repayment is welcome, it does not result in a reduction in the overall debt profile of the group companies as they borrow new debt from other sources such as foreign banks, state funds etc. to repay existing and maturing debts .

This is called “evergreening” in banking jargon. The so-called start-up funds used for partial debt repayment are also raised by pledging equity and raising funds, which leads to a shift of debt from the company’s books to the private accounts of the founders. This also does not lead to a reduction in the overall debt of the group and its promoters.

The Hindenburg Report highlighted the network of a large number of shell companies, owned and operated by the founders and their relatives, through which funds are routed and used to trade the company’s shares.

The need for such shell companies to try their hand at the company’s shares was not explained by the Adanis.

MP Muralidharan

Bengaluru

G-20 imperatives

At the G-20 meeting, India made a valid point on adopting multilateral measures to expedite extradition of fugitive economic criminals and confiscation of assets at home and abroad.

Despite specialized legislation in the form of the Fugitive Economic Offenders Act 2018, the recovery process is difficult due to regulations in place in different countries.

India calls for mechanisms for rapid confiscation of criminal proceeds both domestically and internationally. It was also stressed that the G-20, as the main forum for global economic cooperation, had to take responsibility for leading global efforts against corruption.

TSN Rao

Hyderabad

attract tourists

Speaking of How to Attract More International Tourists (March 2nd), it is unfortunate to note that India accounts for just 1.2 percent of international tourist arrivals and ranks 23rd in the world. Compared to many other countries, we have countless monuments, memorials, hill stations, etc.

East or West, each state in India has its own unique places ranging from the desert of Rajasthan to Darjeeling or Kashmir to Kanyakumari.

But the way international tourists are treated by local tour operators is a little concerning.

Blackmail, a lack of well-informed tourist guides, and easy access to tourist locations are spoilsports.

The government needs to have a robust roadmap and a very effective implementation strategy to boost the tourism sector, whether it’s improving basic infrastructure, including providing more hotels, resorts and improving logistics for tourists.

RV Baskaran

Chennai

Image makeover

This relates to the article How to Attract More International Tourists (March 2nd). Since tourism is part of hospitality industry, the treatment of tourists plays a key role in the growth of tourism in India.

The drivers who pick up tourists from the airport, the front and service staff at the hotel of their stay, and the tour guides at tourist locations are all ambassadors of goodwill – their polite behavior and attention to guests are very important.

While advertising can motivate a foreigner to visit India, their subsequent visits and recommendations to their acquaintances for a tour of India depend on the feedback they take away from their experiences here.

As a nation, we are not held in high esteem as hospitable people, although “athiti devo bhava” (a guest becomes god) is our cultural norm.

This negative image must be corrected in order to promote global tourism.

YG Chouksey

Pune