 |
| |
|
|
In addition to earlier measures, the government has worked out a second stimulus strategy aimed at providing strong impetus to both growth and exports. It has also eased the investment climate with measures such as providing risk cover to exporters and easing rules for entry of foreign companies.
Significantly, the economic slowdown does not seem to have had a major impact on corporate hospitals, which continue to remain upbeat about their performance.
Meanwhile, Morgan Stanley Private Equity Asia has announced a huge investment in the agriculture sector.
This edition also features the distinguished speaker Dr C K Prahalad, who at the recent PanIIT alumni conference in Chennai, said that constraints in India could be a source of dramatic global innovation. |
| |
| Warm regards, |
| |
Aparna Dutt Sharma
CEO
India Brand Equity Foundation |
 | |
| |
| |
Focus: Economy and trade |
|
|
|
In a two-pronged strategy to bolster both exports and growth, the government has announced a Rs 350-crore (US$ 71.94 million) second stimulus package with focus on providing risk cover to exporters as well. Simultaneously, a conducive environment for trade is being created by easing rules for the entry of foreign companies into India.
Meanwhile, in another measure, the government has lifted the ban on cement exports and is also trying to procure Geographical Indication (GI) tags to protect and promote exports of rare Indian products. |
| |
| |
| |
Focus: Innovation |
|
|
|
Constraints in India can be a source of dramatic global innovation, as instances such as the Tata Nano and a host of other low-cost products show, Dr C K Prahalad, noted management guru and Paul and Ruth McCracken Distinguished University Professor of Strategy, said at the PanIIT alumni conference on December 20, 2008, in Chennai. Dr Prahalad also pointed out that the current economic crisis is "an extraordinarily good time" for India to learn to adjust to the current prices.
In fact, the year 2008 has been a period, when according to an ETIG Analysis, many Indian companies have managed to perform better than their foreign counterparts in many sectors, despite the crisis. Meanwhile, India's shining example of innovation in service, Delhi Metro, has proved itself and done the country proud in the global arena. |
| |
| |
| |
Interview: Xavier Houot, French partner, Ernst & Young, France, expresses his views on the Indian investment climate |
|
|
|
"So far, Indian companies from IT and pharmaceuticals have been investing heavily in France. For French companies that are investing in India, the focus is on defence, infrastructure and energy sectors. Energy remains on the top of agenda and now with the nuclear deal being cleared, companies like Areva and Estema are keen to invest in India.
E&Y provides entry strategies to foreign investors in India, and we have certainly seen improvement over the past 4-5 years.... Offset regulations require companies to invest in India. This is an area with great potential. Most likely, year-after-year, companies will come in, as offset policies will attract them.... There are already over 20 French companies that have a footprint in single brand in retail in India." [More] |
| |
| |
| |
Interview: Ravi Venkatesan, Chairman, Microsoft India on significant areas of growth in India |
|
|
|
"I think it is still an incredible event that the Indian economy is expected to grow at 6.5-7 per cent. There is a current decline in the market, but the overall conditions are still strong. There is a massive under-utilisation of IT in India and we still see pockets of significant activity in areas such as healthcare and education.... Today, we are seeing that companies are trying out new business models with openness to new things.
Our integrated consumer business is still small but provides us with biggest growth potential. Even Microsoft Vista is also doing pretty strongly with good adoption from enterprises." [More] |
| |
| |
| |
| Policy/Corporate Briefs |
 |
|
|
|
Insurance bill introduced in RS
In a move designed to increase the flow of global capital into the capital-intensive insurance industry, the government has introduced the Insurance Laws (Amendment) Bill, which seeks to hike the foreign direct investment (FDI) limit to 49 per cent from the existing 26 per cent, in the Rajya Sabha. |
|
MVNOs to get advance licence
To make it easy for mobile virtual network operators (MVNOs) to enter the country, the Department of Telecommunications (DoT) has decided to grant licences to prospective MVNOs before they tie-up with any telecom service provider. |
|
India targets $58 billion software export this fiscal
India has set for itself a software export target of around US$ 58 billion this fiscal, up from US$ 45 billion last fiscal. |
|
Corporate hospital industry upbeat about 2008-09
The economic slowdown does not seem to have had any major negative impact on corporate hospitals, which continue to remain upbeat about their performance in 2008-09. |
|
Reliance Petroleum commissions 'only-for-export' refinery at Jamnagar
Reliance Petroleum Ltd, a subsidiary of Mukesh Ambani's Reliance Industries Ltd, has brought on stream the world's largest single-location refinery complex by commissioning a new exports-only refinery next to its existing unit at Jamnagar in Gujarat. |
|
Venture funds step up joint deals
Venture capital firms are increasingly investing in groups, and according to Grant Thornton, more than a third of the 21 deals that happened in November 2008 were done in groups. |
|
Morgan Stanley PE Asia invests in Biotor
Morgan Stanley Private Equity Asia announced an investment of Rs 182 crore (US$ 37.59 million) in Mumbai-based castor oil and derivatives manufacturer, Biotor Industries Ltd. |
|
In meltdown, 2 big BPO deals cheer India
Despite the global economic slowdown, two major outsourcing deals in the hospitality and the pharmaceuticals sectors have been signed by Global Hyatt Corporation and AstraZeneca with Genpact and Infosys, respectively. |
|
Skoda bullish on India despite slowdown
SkodaIndia, the wholly-owned local arm of the Czech carmaker and part of the Volkswagen (VW) group, has reiterated that it will go ahead with its product launch plans in India during calendar 2009, despite the current slowdown. |
| |
|
|
 |
| |
|
