Recently, protesters burnt copies of The Caravan in Delhi after the magazine published an interview with Swami Aseemanand, who is awaiting trial for attacks on Muslims, killing hundreds of Muslims all over India. Aseemanand told the editors that he had carried out these attacks allegedly on instructions from Mohan Bhagat, who currently heads the Rashtriya Swyamsevak Sangh (RSS).
The magazine quoted Aseemanand as saying that Bhagwat, who was then RSS general secretary, told him that the blasts be carried out but should not be linked to them.
Established in 1925, the RSS is the face of Hindu extremist and militant India. The Bharatiya Janata Party, BJP, which has led a coalition government in India and seems likely to head the next coalition after the next elections, is the political wing of the RSS.
Interestingly, this fact had previously been reported in Tehelka, an Indian online journal, as long ago as 2011.
Tehelka has been very consistent in reporting the activities of Hindu extremists in India and how they lay the blame for their activities on Pakistani supporters in India. In November last year, Tehelka’s editor, Tarun Tejpal, was accused of sexually harassing a female colleague. He has subsequently been charged with sexual assault.
If he is convicted he could face up to seven years in prison, but could the original accusation have some connection to the RSS’s displeasure with him?
You may think this is a conspiracy theory of the most fanciful nature, but there are some who think the two events might be connected.
After all, who could have believed that the highly respected and dearly beloved singer, Lata Mangeshkar, was an ardent admirer of Bal Thackeray, the current spiritual leader of the RSS?
SM Mushrif, a former inspector general of police in Maharashtra, published his book Who Killed Karkare in 2009.
It’s not particularly a well-written book, but is very interesting nonetheless, and it does build logical support to the author’s postulation.
Mr Mushrif wonders who it was that killed Hemant Karkare – the chief of the Mumbai Anti-Terror Squad at the time of the 2008 terrorist attacks and who was killed in action – and why they did it?
Apparently Karkare was a courageous officer who, despite repeated threats from Hindu extremists, pursued his investigations and compiled sufficient hard evidence to be presented in court.
Karkare’s conclusions, according to Mr Mushrif, were that Hindu extremists from India were responsible for most of the attacks on Muslims and Hindus in India, attacks that were attributed to Pakistan.
Mr Mushrif implies that the Mumbai attack may have been at the behest of Hindu extremists who had planned to execute Karkare during the attack. I am not sure that this conclusion is correct. Nonetheless, Mr Mushrif does raise pertinent questions that indicate that the attack might have been deliberately facilitated by some individuals in position of authority.
There is also the Chittisinghpura Massacre, which occurred in 2000 on the eve of President Bill Clinton’s visit to India, killing 36 Sikhs.
While it was immediately attributed to Pakistan’s Lashkar-i-Taiba, Mr Clinton accused Hindu extremists of accusing Pakistan. The sole survivor, Nanak Singh, also raised questions that appeared to suggest that Indian security forces had orchestrated the attack.
As recently as 2012, Sikhs demanded a fresh inquiry into the incident.
There are those in India who regard Muslims to be their inferior. The merits (or otherwise) of that statement are not under discussion here. But it does serve the point that extremism in India has been steadily rising since partition and yet has only been noted by some. And few have analysed its future.
Since Pakistan has been the focus of world interest, India’s march towards extremism has been largely ignored.
The focus on Pakistan is understandable. Unlike India, Pakistan has been linked to terrorist activities of a group with worldwide outreach, which draws more attention. Perhaps the Pakistan media also contributes by being less “loyal” than the Indian media.
Moreover, Indian extremism is not uniform. Southern India has not been affected by it. Maharashtra too used to be liberal, though it is now emerging as the epicentre of Hindu extremism. However, while Pakistan’s extremism might well have peaked, India, being a huge country, has more space for it to grow in.
I realise that a Pakistani writing about a rise in Indian religious extremism is always going to be viewed with some suspicion by some readers, but I do think there is cause for concern.
My fear is that extremism will have its way, sooner or later. When that occurs, in this era of a global village, with the largest Muslim population in the world, a “Muslim Spring” in India will reverberate in all four corners of the world. It is time that the world, but more so Indians, felt more concerned about it.
Brig Shaukat Qadir is a retired Pakistani infantry officer
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae