Indian-American Ro Khanna, who previously
served in the Obama Administration as one of its top trade officials,
today announced his Congressional bid for the 2014 general elections.
Though it was expected for long time, 36-year-old Khanna would contest
against his own Democratic party incumbent Mike Honda from California's
17th Congressional district. The new California laws allows two
opponents from the same party to run against each other in the general
election. Author of best seller "Entrepreneurial Nation", Khanna has
already impressed political pundits with his fund raising skills. As
per the latest filing reported with the Federal Election Commission,
Khanna has already amassed USD 1.2 million for his congressional bid.
"People come here from around the world to put their dreams into action -
that's the promise of America, and it's why my parents came here from
Asia," Khanna said announcing his Congressional bid. "But Silicon
Valley is succeeding in spite of Washington - not because of it. I'm
going to wage a campaign of ideas on how we can thrive in a world
economy where success depends on education," he said. Khanna said his
campaign will employ cutting edge tactics honed during both Obama
presidential campaigns and will use people-focused, data-driven
strategies and a digitally-savvy approach to connect with voters and
build grassroots support. A longtime Bay Area resident, Khanna returned
to Fremont after serving as Deputy Assistant Secretary at the US
Department of Commerce, where he was responsible for managing 108
offices dedicated to helping companies in the United States improve
exports and increase innovation. During his tenure, Khanna also served
on the White House Business Council where he demonstrated his unifying
approach to problem-solving by bringing labor unions to the table to
help develop trade strategies - an approach that marked a significant
departure from previous Commerce Department practice. Khanna's fund
raisers have attracted top Democratic leaders including Nancy Pelosi,
the former speaker of the US House of Representatives, and eminent
Indian-Americans like venture capitalist Vinod Khosla. According to FEC
filing, some of the top donors include Google investor Ram Shriram,
Tibco founder Vivek Ranadive, Adobe CEO Shantanu Narayen, entrepreneurs
Talat and Kamil Hasan, venture capitalist Yogen Dalal, and political
activist Shefali Razdan Duggal. Khanna has roped in several members of
the Obama's re-election campaign team, including Steve Spinner, who will
serve as his campaign chair.
Correlating the ups and down in the Indian rupee with the stock market, Vijay Bhambwani, CEO, bsplindia.com, suggests that if the rupee continues with its downward fall, the Indian stock market may fall breach October lows and fall further. “If the rupee falls below the 53.0-53.50 mark vis-a-vis the USD, expect a mini meltdown atleast in the equity markets. In that case, the 2250 level (on Nifty) will be breached easily to form a new low. The possibility of that low being below the 2000 levels on the Nifty spot is fairly high,” he says. Bhambwani supports his outlook by comparing the value of rupee at the time of October lows. “The October 2008 lows were made with the INR at 51.20 - 51.40 band. The rupee has breached the 52 level since then. Clearly the nation’s ‘share price’ (currency) indicates weakness. The curency market is a far more accurate barometer of the nation’s health compared to the equity indices. Whether you like it or not, we are under siege. Had it not been March (NAV ...
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