India tops global slavery index with 18.35 mn people enslaved

May 31, 2016

Melbourne, May 31: India has the dubious distinction of having the highest number of people in the world trapped in modern slavery with 18.35 million victims of forced labour, ranging from prostitution and begging, according to a new report, which estimated that nearly 46 million people are enslaved globally.

slavery copy copyAccording to the 2016 Global Slavery Index released by Australia-based human rights group Walk Free Foundation today, an estimated 45.8 million people, including women and children, are subject to some form of modern slavery in the world, compared to 35.8 million in 2014.

The report said India has the highest absolute numbers of people trapped in slavery with 18.35 million slaves among its 1.3 billion population while North Korea has the highest incidence (4.37 per cent of the population) and the weakest government response to deal with it.

In the last report in 2014, India had nearly 14.3 million people enslaved.
Incidences of slavery were found in all 167 countries in the index, with Asian countries occupy the top five for people trapped in slavery.

Behind India was China (3.39 million), Pakistan (2.13 million), Bangladesh (1.53 million) and Uzbekistan (1.23 million).

The index said that these five countries combined accounted for almost 58 per cent of the world's enslaved, or 26.6 million people.

The Index presents a ranking of 167 countries based on the proportion of the population that is estimated to be in modern slavery.

Modern slavery refers to situations of exploitation that a person cannot leave because of threats, violence, coercion, abuse of power or deception.

The research included over 42,000 interviews conducted in 53 languages across 25 countries, including 15 state-level surveys in India. These representative surveys covered 44 per cent of the global population.

The countries with the highest estimated prevalence of modern slavery by the proportion of their population are North Korea, Uzbekistan, Cambodia, Cambodia, India, and Qatar.

The countries with the lowest estimated prevalence of modern slavery by the proportion of their population are Luxembourg, Ireland, Norway, Denmark, Switzerland, Austria, Sweden and Belgium, the United States and Canada, and Australia and New Zealand.

The study also tracked the government actions and responses to the modern slavery and of the 161 assessed, 124 nations had criminalised human trafficking in line with the UN trafficking Protocol and 96 nations had developed national action plans to coordinate government response.

It noted that while India had more people enslaved than any other country, it had made significant progress in introducing measures to tackle the problem.

"It has criminalised trafficking, slavery, forced labour, child prostitution and forced marriage. The Indian government is currently tightening legislation against human trafficking, with tougher punishment for repeat offenders. It will offer victims protection and recovery support," it said.

It said that in addition to economic growth in India, ambitious programmes of legal and social reform are being undertaken right across the board, from regulation of labour relations to systems of social insurance for the most vulnerable.

Those governments taking the least action to combat modern slavery are North Korea, Iran, Eritrea, Equatorial Guinea, Hong Kong, Central African Republic, Papua New Guinea, Guinea, the Democratic Republic of the Congo and South Sudan.

The governments that have the strongest response to modern slavery are The Netherlands, the United States of America, the United Kingdom, Sweden, Australia, Portugal, Croatia, Spain, Belgium and Norway.

Seeking strong laws to abolish slavery, Andrew Forrest, Chairman and Founder of Walk Free Foundation, said eradicating slavery makes sense, morally, politically, logically and economically, and called on the governments of the world's leading economies to provide an example to others by enacting and implementing robust anti-slavery measures.

"We call on governments of the top 10 economies of the world to enact laws, at least as strong as the UK Modern Slavery Act 2015, with a budget and capability to ensure organisations are held to account for modern slavery in their supply chains, and to empower independent oversight."

Forrest said leaders of the world's major economies must bring the power of business to this issue, by requiring a focus on supply chain transparency.

"I believe in the critical role of leaders in government, business and civil society. Through our responsible use of power, strength of conviction, determination and collective will, we all can lead the world to end slavery," he said.

Forrest emphasised the key role that business needs to play in eradicating slavery.

"Businesses that don't actively look for forced labour within their supply chains are standing on a burning platform. Business leaders who refuse to look into the realities of their own supply chains are misguided and irresponsible," he said.

Comments

SK
 - 
Thursday, 2 Jun 2016

Since India is facing slavery, Naren has run away to Singapore to enjoy snake/ dog/cat/beef dishes......

Naren kotian
 - 
Tuesday, 31 May 2016

In that mostly 75% are from Muslim community as they enslave women as per their cult following .they have not changed since 6th century ...che papa ...ummah gang ge pitta netti geriruthe ..feku Anthe kumda ...for Muslims he might be feku ..but for nationalist Indians he is true hero who is transforming India .

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News Network
February 10,2020

Shivamogga/Hubballi, Feb 10: Chief minister BS Yediyurappa on Sunday reiterated portfolios for all new ministers will be distributed on Monday and the exercise was not completed sooner only because of weekend holidays.

“I had completed all the formalities on the portfolio allocation,” Yediyurappa said, appearing to rubbish rumours that the delay was caused due to a tussle over portfolios. “However, considering it was a weekend, I decided to postpone handing them out. On Monday all portfolios will be announced.”

The CM also promised to induct loyalists into his council of ministers, admitting Umesh Katti, Hukkeri legislator, should not have been left out. Speaking in Shivamogga earlier in the day, Yediyurappa said Katti was scheduled to take oath last week along with the 10 defectors, but the decision was scrapped at the last minute due to “unavoidable reasons”. “But I have discussed the issue with Katti. Considering he is from North Karnataka and that we have worked together for many years, he will be included in the cabinet soon,” Yediyurappa said.

When questioned on more prominent legislators from his home district missing out — especially Thirthalli Arag Jnanendra — he said a “different responsibility” has been given to him and has already explained why he could not be inducted.

Yediyurappa refused to react to comments by former chief ministers Siddaramaiah and HD Kumaraswamy on government’s survival, saying he would rather concentrate on the state’s development. “It is common for the opposition to criticize the government, but I’m busy preparing for the budget, which will be presented on March 5. I am concentrating on my work,” he said.

In Davangere, Yediyurappa said he is committed to increasing internal reservation for the Valmiki community under the ST quota from 3% to 7.5%, apart from considering a separate department for the community to address their issues. Speaking at a Valimik community event, Yediyurappa said Justice Nagamohan Das has been asked to submit his report at the earliest to bring in reservation.

In Mysuru, chief minister Yediyurappa’s son and BJP Yuva Morcha general secretary BY Vijayendra on Sunday said the district will get representation in his father’s cabinet soon, pointing to the six existing vacancies. He said former minister AH Vishwanath will be made a minister as Yediyurappa is known for delivering on his promises. Speaking to reporters, he said his father has expanded his council of ministers, ensuring there were no complaints and he will include more legislators given that there are six more vacancies.

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April 7,2020

Bengaluru, Apr 7: Leader of Opposition in Karnataka Siddaramaiah on Monday urged Chief Minister B S Yediyurappa to announce a special package to help farmers, agriculture labourers and also working class in various sectors who are affected by the lockdown.

Mr Siddaramaiah put forth his demands during a telephonic conversation and the Chief Minister positively responding to it informed that he will formulate a programme keeping in mind the suggestions made by the Opposition, a statement from the LoP's office said.

It said, the Chief Minister also spoke to Mr Siddaramaiah regarding the government's decision to stop supply of free food for poor and needy through Indira Canteens.

Mr Siddaramaiah on Saturday had written to Yediyurappa urging him to utilise Indira Canteens efficiently and provide food for poor and needy until the coronavirus crisis and lockdown is over.

The former Chief Minister's letter had come a day after the state government had decided not to provide free food at Indira Canteens as concerns were raised about the quality and misuse that was happening.

It had, however, decided to continue to provide subsidised food- breakfast at Rs 5 and lunch and dinner at Rs 10, as usual.

Mr Yediyurappa during the phone conversation on Monday appraised Siddaramaiah that the decision to supply food by fixing a price was taken to stop misuse that was happening.

Mr Siddaramaiah, however, insisted the government should provide food free of cost to the poor and needy, by taking care that misuse doesn't happen.

The senior Congress leader asked the Chief Minister to take action against errant officials who allowed misuse to happen, the statement said, adding that Yediyurappa has promised to look into it.

Initially, the government last month had decided that the state subsidised Indira Canteens would provide food packets free of cost to the poor and needy in the wake of the lockdown.

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News Network
February 19,2020

Feb 19: Bavaguthu Raghuram Shetty was once a typical billionaire with a taste for the high-life.

He splurged on a private jet, vintage cars and two entire floors of the Burj Khalifa, the world’s tallest skyscraper. His website shows him hobnobbing with politicians, Bill Gates and Bollywood royalty.

“The thrill of speed and freedom makes me love cars,” Shetty, 77, told local reporters last year.

Shetty had more than enough money -- at least on paper -- to afford such a lifestyle from companies he helped found, including hospital operator NMC Health Plc and financial services firm Finablr Plc. On Dec. 10, his stakes in the public companies were valued at $2.4 billion, making up the bulk of a fortune spanning education, hospitality and one of the world’s oldest tea companies.

Then, a week later, Carson Block came along.

Block’s investment firm, Muddy Waters, issued a report criticizing NMC’s accounts and disclosing a short position. Since then, Muddy Waters’s scrutiny has snowballed into a troubling scenario for Shetty that sheds light on his complex share arrangements and casts doubts about his net worth. His holdings in Finablr and NMC are worth $885 million, but Shetty’s fortune may now be just a fraction of that, depending on the size of his borrowings.

Filings this month show that Shetty pledged a quarter of his NMC stake against loans with First Abu Dhabi Bank and Zurich-based Falcon Private Bank. Two other shareholders may own half of his reported stake. Another lender -- Al Salam Bank Bahrain -- has already sold some of those shares to enforce security over a loan for Shetty, and NMC said Tuesday that First Abu Dhabi Bank sold another chunk earlier this month.

The situation “seems to have gone beyond some of the issues that Muddy Waters focused on initially,“ said Gavin Launder, a fund manager at Legal & General Investment Management, who owned shares in NMC until October. “The increased scrutiny has unearthed other issues.”

Law firm Herbert Smith Freehills has launched a review of Shetty’s holdings at his request, a spokesperson for the Indian-born businessman said, declining to comment further until the analysis is completed. Shetty resigned Sunday as NMC’s chairman.

In its Dec. 17 report on NMC, Muddy Waters hinted at potential overpayment for assets, inflated cash balances and understated debt. Shares of the United Arab Emirates’ biggest private health-care provider have since plunged 67%, and the firm is now the focus of takeover speculation. The sell-off also spread to Finablr, whose stock has tumbled 64% in that span.

NMC has disputed Muddy Waters’s claims, and the company hired former FBI Director Louis Freeh to conduct an independent review of the short seller’s allegations. Meanwhile, local regulators “are making inquiries with the relevant parties,” a spokesperson for the U.K.’s Financial Conduct Authority said.

Shetty is hardly the only ultra-wealthy person to leverage his assets. Elon Musk has used his shares in Tesla Inc. to obtain personal loans, while Oracle Corp. Chairman Larry Ellison has put up millions of the company’s shares to fund a lavish lifestyle that includes trophy properties, America’s Cup teams and the Indian Wells tennis facility in California.

But such deals can also sour, as demonstrated by Shetty’s lenders selling shares his investment firm pledged. He and his advisers are investigating details of the sales as part of their legal review, according to filings.

To complicate matters, Shetty pledged another batch of NMC stock in 2018 as part of a so-called equity collar arrangement with Goldman Sachs Group Inc. that uses options to limit the impact from share moves. Last month, he also pledged most of his stake in Finablr to refinance a loan from the company’s takeover of foreign-exchange firm Travelex for about $1.2 billion.

BRS Ventures Investment, the UAE-based holding company for most of Shetty’s assets, doesn’t report consolidated financials, preventing a complete analysis of his net worth. His other assets include a catering company, a waste-management firm and pharmaceutical business Neopharma, which four months ago was in the early stages of planning for an initial public offering.

Block, 43, earned his reputation as a short seller a decade ago through targeting U.S.-listed Chinese companies that he claimed were frauds. More recently, his San Francisco-based firm focused on British litigation-finance firm Burford Capital Ltd. and Japanese biotech stock PeptiDream Inc. Short sellers seek to benefit from a decline in a company’s share price.

Shetty founded NMC in 1975 after moving to Abu Dhabi from his native India. He created Finablr two years ago to consolidate his financial brands before listing it on the London Stock Exchange in 2019.

Block said he didn’t anticipate NMC’s shareholding drama.

“I wouldn’t have been able to predict that we’d get these bizarre disclosures about unclear share ownership coming out of the company,” he said in a Feb. 13 phone interview. “This has been obviously a more dramatic unraveling than we usually see.”

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