Oct. 30 – Russia-based energy efficiency consultancy firm, GCE group, announced its entry into the Indian market, where it will be operating in sectors such as oil and gas, power and cement, reports The Hindu.
“We have entered the Indian market with a long-term expansion plan and aim to clock $100 million revenue annually over the next five years,” GCE Group President Alexander Moskalenko said at a press conference.
Oct. 29 – The World Economic Forum will be holding the India Economic Summit on November 8-10 in New Delhi. The theme is “India’s Next Generation of Growth.”
According to the Forum, the questions to be debated will include answers from experts addressing the fact that India has the world’s second largest population and one of the fastest growing economies today. Experts predict that India will become a global superpower within fifty years – thanks to its economic growth and young population. Access to health care, reliable power and clean water are also in desperate short supply. Could these gaps prevent India from achieving what finally seems within its grasp?
Oct. 28 – India and the United States have agreed to expedite agreements to improve trade, investment and Intellectual Property Rights (IPR) cooperation.
Both countries stated their commitment during the end of the Sixth Ministerial Level meeting of the India-U.S. Trade Policy Forum (TPF). The agreements will concentrate on agriculture, innovation and creativity, investment, services and tariff and non-tariff barriers.
Oct. 28 – India’s Ministry of Commerce and Industry has announced that foreign workers in the country on business visas must leave the by the end of the month or on the expiry of their visas whichever is earlier to return to their home country and apply for an employment visa there.
Indian consulates will be issuing business visa only to those who qualify the set guidelines issued in August 2009 by the Ministry of Commerce and Industry.
Oct. 27 – Business India magazine has just released its tenth best business schools survey which ranks India’s top institutions. The top ten is as follows with the name of each school also linked to its website.
1) Indian Institute of Management, Ahmedabad
2) Indian Institute of Management, Bangalore
3) Indian Institute of Management, Calcutta
By Chris Devonshire-Ellis
Oct. 26 – In the latest politically correct movement of stupidity, the State of Orissa is now legally to be known as Odisha following a ruling by the Indian Union Cabinet. The regional language, previously known as Oriya, will now be called Odia.
The move follows prolonged lobbying by the BJP Party, long bent on correcting misnamed cities and states. The confusion arises partly due to the phonetic and dialect differences in pronouncing the English version and the local language version with the BJP determined to revert all names to the ones used locally. Hence Bombay became Mumbai, Madras became Chennai and Calcutta became Kolkata.
By Mark Hannant
MUMBAI, Oct. 23 – Macro-economic trends currently favor Indian businesses looking to grow internationally and focusing on their communications is one area where they can improve their chances of success. Much ink is spilt writing about the difficulty of creating value through merger and acquisition (M&A) activity. Over half of deals fail to achieve their operational or financial goals according to PwC (M&A Integration Survey Report, 2008). The lack of success is often explained in terms of failed integrations and the reality that “buying is easy, owning is hard.” There is a growing understanding that those failures are in a large part due to the lack of post-merger integration planning and specifically a failure to deal with cultural issues.
Oct. 23 – The Prime Minister’s Economic Advisory Council has made an official forecast that pegs India’s growth for 2009-10 at 6.5 percent backed by the strength of its industrial sector.
The think tank, led by former Reserve Bank of India governor C Rangarajan, said the government needs be careful of inflation and fiscal deficit. “(It is) unlikely that growth will be lower than 6.25 percent, but may reach 6.75 percent,” the panel said on its Economic Outlook for 2009-10 report.