Indian Economy-News & Updates

[IndoCarib]

thanks. We just tell the truth. But Indians can't accept the reality

We have accepted the reality. The reality is that inflation can not remain high forever, cars sales can not plunge permanently. So basically these are temporary phenomenon. Now you better accept this reality

 

[Tangent]

thanks. We just tell the truth. But Indians can't accept the reality

...with your inclination..U just see the shadow...and perceive it to be the truth..
Don't worry and cheer up ...even my nephew , who is 12, has your attitude...
No body takes him seriously.... and he wonders why ?

 

[Splurgenxs]

...with your inclination..U just see the shadow...and perceive it to be the truth..
Don't worry and cheer up ...even my nephew , who is 12, has your attitude...
No body takes him seriously.... and he wonders why ?

he's 31,

yeap ....i wus shocked and saddened by this too.

 

[IndoUS]

he's 31,

yeap ....i wus shocked and saddened by this too.

You sure he didn't mess up the order of number. 31 or 13

 

[Splurgenxs]

Visiting US architect team says have a long-term view on India

KOLKATA: The largest US trade mission to India in more than a decade, comprising an architecture services delegation, has arrived in Kolkata on Wednesday, October 17. The US team includes representatives from 20 American companies. The delegates are led by Mickey Jacob, first vice-president and president-elect of the American Institute of Architects.

"This mission is important to us. The focus is on building relationships. Incidentally, issues and problems relating to infrastructure and architecture are similar across the world. The issues centering on this sphere are the same in India and the US. We need to explore ways to deal with these hurdles. After interacting with informed people in this area here and government officials, we intend to carry the feedback back to the US," Jacob said.

Jacob said the US team will delve into the various facets connected to the broader realm of infrastructure and housing. ""We look forward to supporting India and its architectural and infrastructural vision. We would not only wish that both India and the US prosper mutually from this endeavour, but intend to contribute to the quality of life," Jacob remarked.

He did admit that the recession in the US and globally had brought on its share of economic challenges and the architectural segment had also been impacted. And, so, new business avenues naturally had to be explored and more jobs had to be created and fresh products have to be accessed. The US architecture delegation is extremely keen to forge partnerships. "We are not here with a short-term view, but with a long-term perspective in mind," said Jacob.

He informed that this was his first trip to India, but he felt that Indian architecture was "cutting edge and highly sustainable from the point of view of lifestyle and design. There's tremendous creative energy here." The American representatives had come with an open mind. Everything from shopping centres, office complexes, multi-unit housing, hotels, tourism and the transport system could figure in the talks that are slated to transpire. On this journey, the US team is touring through Chennai, Kolkata and Bangalore.

"The size of this US trade team, the largest in over a decade, underlines the dynamic phase in the relationship between India and the US," expressed Dean R Thompson, US consul general in Kolkata.

 

[Splurgenxs]

You sure he didn't mess up the order of number. 31 or 13

lol
well the website only asks fr the DOB and outputs the age on its own.Maybe he didn't use his noggin while filling it out as well.

 

[Azazel]

Indian Hotels to make offer to buy Orient Express

NEW DELHI, OCT 18:Tata group firm Indian Hotels Company today said it will make an offer to acquire US-based Orient Express Hotels, which owns a chain of luxury hotels in US and Europe.

Indian Hotels, which operates the iconic Taj properties in India and abroad, said it had acquired 6.9 per cent stake in Orient Express during 2007 and 2009, and now will make an offer to buy the remaining 93.1 per cent.

The company’s board of directors have ‘in principle’, subject to the necessary regulatory approvals, authorised the company to make an offer to the board of Orient Express Hotels Ltd seeking their consent for the company acquiring the balance outstanding 93.1 per cent Class A common shares of Orient Express Hotels Ltd i.e. 100 per cent.”

“The company proposes to finance the acquisition of such shares and related transaction costs through a combination of debt and equity,” the company said in a filing to the BSE adding that funds required to consummate the transaction are in place.

Indian Hotels said that a combination of itself and Orient Express Hotels Ltd is a ‘strategically compelling’ opportunity for both companies as also for its respective shareholders.

“Appropriate disclosure of the offer, as afore referred, is being concurrently filed with the Securities Exchange Commission, USA,” it said.

The company said it has an agreement with Montezemolo & Partners, an important Italian company directly owned by the Montezemolo family, who is the Manager of charme II Fund, which will be a minority shareholder in the Special Purpose Vehicle set up for the transaction, it said.

Shares of Indian Hotels Company today closed at Rs 70.20 on the BSE, up 3.24 per cent from its previous close.

Business Line : Companies News : Indian Hotels to make offer to buy Orient Express

 

[IndoCarib]

Starbucks India debut

Mumbai: Starbucks inaugurated its first store in India on Friday in a historic building in southern Mumbai as the Seattle-based coffee giant seeks growth in a market long associated with tea drinkers.

"It is perhaps the most elegant, beautiful, dynamic store we've opened in our history," chief executive Howard Schultz said in an interview.

Starbucks India debut: Now serving Cappuccino Cafe Latte at Rs 95 - NDTVProfit.com

 

[IndoCarib]

Japan plans to import rare earths from India as hedge against China

Japan is expected to announce that it will begin the import of rare earth elements from India when Prime Minister Manmohan Singh visits the country next month.

The move is intended as a safeguard against a possible embargo by China, a top global producer of rare earths, amid the Japan-China territorial dispute over the Senkaku Islands.

India is expected to supply 4,000 tons of rare earths, 15 percent of Japan’s annual needs.

Japan has been trying to diversify its import sources of rare earth elements, which are vital in producing high-tech products, such as smartphones.

During Singh’s Nov. 15-18 visit, Prime Minister Yoshihiko Noda and Singh are also expected to announce bilateral cooperation toward the introduction of Japan’s bullet train system in India in a joint statement.

The Indian government and Japanese businesses are currently having last-minute negotiations on a project that would introduce Shinkansen on six high-speed railways in India totaling 4,100 kilometers.

The focus of the discussions is how to divide the work, from the laying of rails to managing train runs, between Japanese businesses and the Indian government.

Japan plans to import rare earths from India as hedge against China - AJW by The Asahi Shimbun

 

[KRAIT]

Good news from East....

 

[IndoCarib]

Over 300 Chinese firms to invest in India

Singapore: More than 300 Chinese companies are expected to invest in India over the next three years as India-China bilateral trade grows to USD 100 billion, says an investment and business consultancy.

It also sees 50-60 Indian firms setting up operations in China in the coming years.

"As trade grows between the two countries, investment will follow," said Girija Pande, Executive Chairman of Apex Advisors Pte Ltd, a Singapore-based investment and business consultancy.

He projected 30 per cent increase in India-China trade over the next 2-3 years, from the USD 72 billion expected this year.

Over 300 Chinese firms to invest in India

 

[KRAIT]

We need to bring down the trade deficit too. BTW, a good trade relationship with China is essential for our growth too.

 

[IndoCarib]

Why India will retain numero uno spot in outsourcing

New Delhi: Even as global companies moved to Tier II outsourcing locations like Malayasia, Philippines and even Indonesia in the past year, India reigns supreme in the outsourcing space and will continue to do so, according to Wipro Technologies.

Despite a volatile global economic environment, technology and related services sector spent over $1.7 trillion in 2011, 5.4 percent more than the 1.6 trillion it spent in 2010. Of that, software products, IT and BPO services accounted for over $1 trillion – 63 percent of the total spend, according to NASSCOM. Of that amount, India’s software IT-BPO revenues were $88 billion in 2011 – an increase in its market share from 51 percent in 2009, to 58 percent in 2011.

According to Hari Hegde, global head of operations at Wipro Technologies, the numbers highlighted India’s continued competitiveness and the effectiveness of India-based providers in delivering quality services to its global clientele.

Why India will retain numero uno spot in outsourcing | Firstpost

 

[agamdilawari]

TCS profit rises 44%

MUMBAI: Tata Consultancy Services (TCS), India's largest software services exporter, posted a 44 percent rise in quarterly profit, beating expectations, as more overseas clients turned to its outsourcing services to cut costs. The company also announded dividend of Rs 3 per share.

Profit for the three months ended September rose to Rs 35.12 billion ($643 million) from Rs 24.39 billion a year earlier, TCS said. Analysts had forecast a net profit of Rs 33.34 billion, according to Thomson Reuters estimates. Second-quarter revenue of TCS stood at $2.85 billion, a 13% increase Year-over-Year and 4.6% rise over the preceding quarter.

TCS posted Q2 operating income of $736 million, which grew 11.5% over last year and 1.7% over the last quarter.

The company also announced that Rajesh Gopinathan, who has been with the company since 2001, has been appointed as chief financial officer (CFO) and will take over from S Mahalingam, who retires in February 2013. The IIM Ahmedabad alumni will take up the role of deputy CFO from today.

TCS CEO N Chandrasekaran said, "We've said we will be delivering volumes in excess of the Nasscom estimates, and we're well on our way."

Commenting on pricing, he said, "Pricing is by and large stable. Emerging markets have different price points/cost points - there's an impact of that."

Ajoy Mukherjee, HR head of TCS, revealed that it has recruited 18,654 employees in this quarter in India, in line with the company's hiring plans.

About the company's visa woes, Chandrasekaran said, "Visa rejection rates continue to be high. We only have to plan in detail. We've taken various steps: H visas, local hiring etc."

TCS added 41 new clients to its portfolio this quarter and currently has a total of 1041 clients and signed nine large deals during the period.

During Q2 2012, TCS added 18,654 to its workforce and ended the period with a total headcount of 2,54,076, a rise of 4% over the preceding quarter.

TCS profit rises 44%, new CFO announced - The Times of India

 

[Tangent]

We need to bring down the trade deficit too. BTW, a good trade relationship with China is essential for our growth too.

..China did a lot good to India..unknowingly...
Militarily, India wouldn't have been what it is without 1962.
Economically, India wouldn't have been what it is without China's 1990s boom.
India , never believed, that they could do what Singapore, Taiwan, South Korea or other east asian countries (Tiger economies) did, till China happened to them.
...But...there is still many a miles to catch...
...But...the way India is making many countries uncomfortable, .....I get re-assured of the path India taking.