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By:

Abhijit Mulye

21 August 2024 at 11:29:11 am

Red flag to green steel

Ex-Maoists forge new destiny in Gadchiroli Gadchiroli: The rugged, forested terrain of Gadchiroli district, long synonymous with the violence and deep-rooted anti-establishment tenets of the ‘Red Ideology’, is now witnessing a remarkable social and industrial transformation. At the Lloyds Metals and Energy Ltd. (LMEL) plant in Konsari, once-feared Maoist operatives are shedding their past lives and embracing a new, respectable existence as skilled workers in a cutting-edge Direct Reduced Iron...

Red flag to green steel

Ex-Maoists forge new destiny in Gadchiroli Gadchiroli: The rugged, forested terrain of Gadchiroli district, long synonymous with the violence and deep-rooted anti-establishment tenets of the ‘Red Ideology’, is now witnessing a remarkable social and industrial transformation. At the Lloyds Metals and Energy Ltd. (LMEL) plant in Konsari, once-feared Maoist operatives are shedding their past lives and embracing a new, respectable existence as skilled workers in a cutting-edge Direct Reduced Iron (DRI) and pellet plant. This ‘green steel’ project, part of LMEL’s push for an integrated steel complex in the region, is functioning not just as an industrial unit but as a crucial pillar in the Maharashtra government’s surrender-cum-rehabilitation policy. So far, LMEL, in coordination with the state government and the Gadchiroli Police, has provided employment and training to 68 surrendered Maoists and 14 members of families affected by Naxal violence, a total of 82 individuals, offering them a definitive pathway back to the mainstream. The Shift The transformation begins at the company’s dedicated Lloyds Skill Development and Training Centre at Konsari. Recognizing that many former cadres had limited formal education, the company implements a structured, skill-based rehabilitation model. They are trained in essential technical and operational skills required for plant administration, civil construction, and mechanical operations. For individuals like Govinda Atala, a former deputy commander, the change is palpable. “After surrendering, I got the right to live a new life,” Atala said. “I am very happy to get this job. I am now living my life on my own; there is no pressure on me now.” Suresh Hichame, who spent over a decade in the movement before surrendering in 2009 too echoed the sentiments. He realized the path of violence offered neither him nor his family any benefit. Moreover, his self-respecct was hurt. He knew several languages and carried out several crucial tasks for the banned organization remaining constantly under the shadow of death. Today, he works in the plant, receiving a steady monthly salary that enables him to care for his family—a basic dignity the ‘Red Ideology’ could never provide. The monthly salaries of the rehabilitated workers, typically ranging from Rs 13,000 to Rs 20,000, are revolutionary in a region long characterized by poverty and lack of opportunities. Trust, Stability The employment of former Maoists is a brave and calculated risk for LMEL, an industry that historically faced stiff opposition and even violence from the left wing extremist groups. LMEL’s management, however, sees it as an investment in inclusive growth and long-term stability for the district. The LMEL has emphasized the company’s commitment to training and facilitating career growth for the local populace, including the surrendered cadres. This commitment to local workforce upskilling is proving to be a highly effective counter-insurgency strategy, chipping away at the foundation of the Maoist movement: the exploitation of local grievances and lack of economic options. The reintegration effort extends beyond the factory floor. By providing stable incomes and a sense of purpose, LMEL helps the former rebels navigate the social transition. They are now homeowners, taxpayers, and active members of the community, replacing the identity of an outlaw with that of a respected employee. This social acceptance, coupled with economic independence, is the true measure of rehabilitation. The successful employment of cadres, some of whom were once high-ranking commanders, also sends a powerful message to those still active in the jungle: the path to a peaceful and prosperous life is open and tangible. It transforms the promise of government rehabilitation into a concrete reality. The plant, with its production of iron ore and steel, is physically transforming the region into an emerging industrial hub, and in doing so, it is symbolically forging the nation’s progress out of the ashes of extremism. The coordinated effort between private industry, the state government, and the Gadchiroli police is establishing a new environment of trust, stability, and economic progress, marking Gadchiroli’s transition from a Maoist hotbed to a model of inclusive and sustainable development.

How to Choose the Right Financial Advisor?

Updated: Oct 21, 2024

How to Choose the Right Financial Advisor

In India, where managing money and paperwork can be complex, having a financial advisor is essential. You need a single point of contact (not yourself) to help navigate your financial journey. But what makes a good financial advisor, and why is it so crucial to choose the right one?


Key Qualities of a Good Financial Advisor

First and foremost, your financial advisor must be well-qualified.  Just as you wouldn’t trust your health to an unqualified person and instead go to a doctor, you shouldn’t entrust your wealth to someone without the necessary expertise. Health and wealth are both sensitive and complicated domains that significantly impact your life in various ways.  Credentials ensure that the advisor has the education and experience to manage your financial health effectively. 

Second, a good advisor should be an entrepreneur, not an employee of a bank or brokerage firm. Why? Because employees are often product-focused and driven by sales targets. Their advice may be biased toward selling you specific products rather than focusing on your financial goals. On the other hand, an independent advisor who runs their own business is more likely to focus on tailored solutions for your needs. They typically offer multiple financial products and strategies, balancing key factors like risk, return, liquidity, and time period requirements. Their knowledge of financial ratios, formulas, and diverse products is crucial in balancing your portfolio across different asset classes, adding value beyond a one-size-fits-all approach.

This allows them to create the right mix for your financial goals. Additionally, this person should be a full-time advisor (not part-time), so they can dedicate the time and focus required to understand your long-term financial vision. Their only business should be managing your money—not juggling multiple ventures.

A good financial advisor must be someone who you can trust for the long-term. You are entrusting them with your money and your future. They should be a long-term partner who is there throughout your entire investment journey, not just someone who makes a sale and moves on. This sets them apart from bank or brokerage relationship managers, who often change jobs and provide inconsistent service.


Why You Shouldn’t Go It Alone

Many people hesitate to pay for financial advice, thinking they can manage their finances on their own. The cost of not having an advisor could far exceed the fees you pay for professional advice. Without the right guidance, you risk making costly mistakes that could jeopardize your financial goals. Remember, it takes years of education, expertise, experience, and wisdom to write a prescription—so don’t self-medicate. The cost of going wrong or doing nothing is massive—it might cost you your financial goals!

Ultimately, finding the right financial advisor is a critical step toward achieving financial freedom. Choose wisely. Look for a well-qualified, entrepreneurial advisor who serves as a single point of contact, deals with multiple products and solutions, and is long-term oriented—someone who will be there from the beginning of your investment journey to the end.

(The writer is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal.)

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