Bangalore and Posco We in India seem to be so caught up in the squabbles between petty politicians that no newspaper seem to highlighting the economic loot of the country except perhaps for Hindu. Once such deal is the proposed iron ore mining right in Orissa which is to be awarded to the South Korean company called POSCO.
One need not be a rocket scientist to determine that a tonne of steel is more valuable than a tonne of iron ore. Government of India should help Indian companies like Tata Steel,SAIL dethrone companies like POSCO from its numero-uno position by either not allowing mining lease in Orissa or by asking POSCO to pay a premium for mining iron ore in Orissa. We need to remember that although countries like Saudi Arabia have lots of oil (another non-renewable energy source like iron ore), world's biggest oil companies are in USA. Also, the US government ensures that US companies get the inside lane to access this strategic resource anywhere in the world. (Remember Iraq?) This is not socialism but plain old patriotism.  ¶ 9:23 PM 2 comments