Tesco is investing £60m large into branching out into India – not stores as such, but a wholesale cash-and-carry business in Mumbai. Tesco also signed a deal to help the Indian equivalent of Virgin, Tata, develop its hypermarket business from 4 to over 50 stores in 5 years. This isn’t the only foreign clime a career with Tesco can take you: it also has businesses in Europe, China, Thailand, and (albeit struggling) in the USA. It’s another thumbs up to the importance of India in the world’s economy, that has already seen the US Tesco rival operate over there alongside Bharti Enterprises. If you’re wondering why all these giants feel the need to snuggle up to a local firm to get work done down there, Indian law bars large overseas brands from operating at a retail level unless through wholesale, licence or franchise arrangements. Enjoy the anonymity of Tesco while you can friends.

Not happy that the only thing in my house he hasn’t had a hand in printing on is the toilet paper, Uncle Rupert Murdoch’s News Corp (The Times, The Sun, Sky…) plans to invest $100m over the next 12months to start six regional tv channels in India – one of the world’s fastest growing media markets. The channels will broadcast in six languages and run under the Star brand. That brand also has a presence in China, but Rup think India’s more open media sector could provide greater opportunities (less censorship for a start). The company, which also owns MySpace and Twentieth Century Fox, has also pledged to double the number of staff at Dow Jones Newswires, which Murdoch bought along with the Wall Street Journal last year.

So the mammoth world trade talks that began in 2001 have collapsed – presumably because they were held in Geneva so everyone was bored witless. Import rules would allow countries to protect poor farmers by imposing a tariff on certain goods in the event of a drop in prices. But the new world order of India, China and the US could not agree on the tariff threshold – particularly with food and fuel prices currently residing in crazy town. The talks have repeatedly collapsed in the last 7 years as developed countries failed to agree with developing nations on terms of access to each others’ markets. The US and the European Union want greater access to provide services to fast-growing markets like China and India. While, developing countries want greater access for their agricultural products in Europe and the US. Pretty simple really. But if this is the end of global talks, nations may now pursue dual agreements with partner nations, focusing on their own requirements rather than a common goal – so in other words, the countries that need help most have been delivered another kick in the groin.

The aim was to make global trade easier. Much of the trouble has been around countries trying to protect traditional agriculture in their rural communities (by setting prices and subsidising farmers). Its maddening because agriculture only makes up less than 8% of world trade. Disputes about how much access America and Europe should have to the rapidly growing service sector in markets like China and India created another serious sticking point. It is possible: The European Union is the most striking example of a large free trade area. And the collapse of the talks means that countries will just strike smaller deals with their neighbours and friends (as they have traditionally done). That means the poorer you are, the more vulnerable you are; there will be no governing rules to decide what’s a fair deal and developing countries may be forced to take the best offer for their goods, no matter how low that offer is. We’re back to the business brains of the rich acting with a conscience. Fat chance! Pass me my white linen suit and Panama hat – the man from HCTB, he says Yes!

The “cyber-coolies” of India’s IT call centres have formed an “e-union” and are planning to target British and American clients in a campaign to improve their terms and conditions. Those who refuse may face a sabotage campaign by the same workers who have slashed their costs. India is the world’s top provider of business-process-outsourcing (BPO) call centres, and now generates over $30 billion (£15 billion) a year selling cheap back-office services. The secret of its success has been young graduates working nights for around £200 a month — less than a sixth of that earned by call-centre staff in Britain. “BPOunion” was formed recently following a dispute between Keane India — a multinational call centre and BPO company that provides IT support to Unipart. The company outraged call-centre workers when it sacked 400 staff without compensation. Now the cyber-coolies have warned they will target the company’s investors and clients unless the workers are reinstated or paid redundancy terms.