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Profile of Lakshmi Mittal
2008-03-28 03:54:00 By Vipin AgnihotriAge: 57 Fortune: inherited and growing Source: steel Net Worth: $45.0 billion Country Of Citizenship: India Residence: London, United Kingdom, Europe & Russia Industry: ManufacturingMarital Status: married, 2 children Education: St Xavier's College Calcutta, Bachelor of Arts / ScienceLakshmi Mittal is the President of the Board of Directors and CEO of ArcelorMittal, widely been regarded as the world's biggest producer of steel, with assets in France, Belgium, Romania, Bosnia-Herzegovina, South Africa, Poland, Czech Republic, Indonesia, Kazakhstan, Canada, Bulgaria, United States, Trinidad, Brazil and Mexico. Recently, Forbes Magazine has declared Lakshmi Mittal as the fourth wealthiest person in the world ahead of Mukesh Ambani and Anil Ambani.Lakshmi Mittal started his career working in the family?s steel making business in India, and has more than 30 years of experience working in steel and related industries. The main specialty of Mittal is that he has mas... More About: Profile
Top 3 dirtiest Asian cities
2008-03-28 03:52:00 By Vipin Agnihotri Despite gaining so much in the recent years, it?s a matter of shame that when The India Street decided to come up with top 3 dirtiest Asian cities, two comes from India, namely, Mumbai and New Delhi. In my opinion, Dhaka is the dirtiest Asian city followed by Mumbai and New Delhi. Dhaka, Bangladesh- Located in southern Asia, between Burma and India, Dhaka, the capital of Bangladesh battles with the constant threat of water pollution. Point to be noted here is that surface water is often thick with disease and pollutants from the use of commercial pesticides. With an estimated 150 million people living in a relatively small area, cleaning up the problem is real tough. Mumbai, India- Indian government has to work quite hard if they want to transform Mumbai back into a burgeoning metropolis. A recent private-sector report, Vision Mumbai, proposed changes in infrastructure, pollution control and economic growth strategy, which contributed to the seeking of approx... More About: Top 10 , Cities
Welspun Gujarat is proving its mettle
2008-03-25 18:19:00 By Priya Nigam Companies across the globe are struggling with high raw material prices. With steel prices skyrocketing, it has become imperative for companies manufacturing steel products to capitalize on global demand opportunities. One company that is proving its mettle is Welspun Gujarat Stahl Rohren Limited (WGSRL). The youngest member of the Welspun group has bagged an order worth Rs1,075 crore for the supply of spiral pipes in Northern Africa (Algerian market). The latest order comes in the wake of last month?s announcement of pipeline orders worth Rs120 crores for the supply of ERW line pipes in Southern Europe. These orders are extremely well timed for Welspun Gujarat, which has been investing in capacity expansion. Welspun Gujarat, which currently has an annual capacity of about 1 million tonnes, may be able to produce approximately 1.75 million tonnes every year after it is through with its expansion plans. Welspun Gujarat won the Northern African order against stiff co...
Indians are the world's top remitters
2008-03-25 18:12:00 By Vipin Agnihotri It?s official; Indians are the world?s top remitters. According to latest World Bank report, India received a whopping $27 billion in remittances, beating the likes of China and Mexico. Point to be noted here is that the inward remittances to India has more than doubled from about $12.89 billion in 2000 to $27 billion in 2007. It is worth mentioning in this regard that in 2006, inward remittances were $25.43 billion, while the outward flow constituted around $1.58 billion. The top five recipients of remittances in 2007 were India ($27 billion), China ($25.7 billion), Mexico ($25 billion), the Philippines ($17 billion), and France ($12.5 billion). In my opinion, majority of the remittances happen by traditional channels such as Western Union and Moneygram. Online money transfer has also gained momentum in India with the increasing reach of the Internet. The pivotal factor here is that remittances can come in real handy during disasters or emergencies. It has...
Invest in longer-term bond instruments as lending rates dips in India
2008-03-24 18:21:00 By Vipin Agnihotri Number of public and private sector banks in India has recently lower their lending rates for consumer borrowings. In my opinion, such a scenario gives investors who have invested in longer-term bond instruments a much-needed opportunity to make decent gains on their investments. Point to be noted here is that even if Reserve Bank of India holds rates steady, as it is pretty much expected to do, given the increasing rate of inflation, they will still stand to make a neat packet. The pivotal factor here is that even if the inflation rate increases to 5 per cent, from about 4.07 per cent now, there will be enough liquidity in the system to keep growth on track. As bond fund managers is all set to take a call on the interest rate movements and come up with a portfolio on the basis of their assessment, interest rates is going to play a pivotal role in determining the composition of paper in their funds. In the last two or three months, as interest rates have tend... More About: Bond , Instruments , Invest , Rates
Top 3 richest women in the world
2008-03-24 18:20:00 By Vipin Agnihotri The India Street is back once again with an interesting bit of information for their readers. Do you know top 3 richest women in the world? If you don?t, take a look. Liliane Bettencourt With a wealth of $22.9 billion, Liliane Bettencourt is the world's richest woman. Bettencourt has a controlling stake of 27 per cent in L'Oreal since four decades. From what I have gathered, she prefers to be away from public attention. Her main objective is to assist and support projects in the medical and humanitarian areas. Liliane is also the second richest person in France. Christy Ruth Walton With a wealth of $19.2 billion, Christy Ruth Walton is the second richest woman in the world. According to Forbes, she is also the world's 26 richest person. Christy Ruth Walton, the wife of late John T Walton inherited his fortune of $15.7 billion after John?s death in a plane crash. Wal-Mart at this moment of time is the world's biggest retailer, with 6,500 stores in 15 cou... More About: Women , World , The World
Hyderabad International Airport: Some important information
2008-03-24 18:18:00 - By Vipin Agnihotri Bad news for International passengers as they have to pay $ 28 as user development fee when the new Hyderabad International Airport start operation. According to sources, user development fee will be collected by the airlines and given to Hyderabad International Airport Ltd (HIAL). HIAL on his part would pass on this fee to the Indian Government. Although, there is no change in landing and parking charges at the new Hyderabad International Airport but the issue of ground-handling charges are bothering low-cost airlines quite a bit. I have a talk with few of them and they are fearful that the cost of operations would go up significantly. Ground handling includes cabin service and replenishment of catering requirements. I have full-proof information that majority of the private airlines, including domestic and international carriers, are yet to enter into an agreement with the new airport's two grou... More About: Information
HDFC not impacted by slowdown in mortgage market
2008-03-19 04:42:00 By Vipin Agnihotri Slowdown in the mortgage market has not impacted HDFC, as their growth rates have not been affected at all. The third quarter result of the company clearly proves this point. During this period, HDFC excelled on most parameters, delivering strong top line and bottom-line growth. As a matter of fact, loan portfolio of HDFC expanded 27 per cent over the previous corresponding quarter, it gained market share and spreads expanded 12 bps to 2.3 per cent. What?s more, its disbursements grew 30 per cent and net interest income was up 62 per cent. In my opinion, HDFC has beaten its nearest competitors, posting growth rates of over 25 per cent in disbursements. The main reason behind all this is that the goals are clearly laid down by the HDFC management. It is worth mentioning in this regard that there is a four-pronged thrust?growing approvals and disbursements between 20 per cent and 25 per cent, increasing RoE by a percentage point annually, ensuring consistent red... More About: Market , Mortgage
US sub-prime crisis comes too close to home
2008-03-19 04:42:00 By Priya Nigam The weekend gone by witnessed the collapse of Bear Stearns in a shocking deal in which the 85-year-old US-based investment bank was bought for only one third its IPO price in 1985. The US Federal Reserve cut interest rates in a meek attempt to restore confidence in the financial markets. This led to widespread speculations of global funds pulling out their local share holdings. The panic-struck Sensex plummeted in the face of intensifying global fears. And the rupee plunged to a six-month low. While we are still trying to digest this, Mr P Chidambaram claims that the impact of the US sub-prime mortgage crisis on India has been moderate. He noted that none of the state-run banks have any direct exposure to the sub-prime mortgage market. So, what does the sub-prime crisis mean? Banks in the US had offered loans to a number of domestic "sub-prime" borrowers (or borrowers with low repaying power). Then the housing bubble burst and the US economy began to decelerate. Th... More About: Home , Close , Crisis , Prime
Rupee loosing aura of invincibility
2008-03-19 04:37:00 By Vipin AgnihotriIn my opinion, rupee has lost some of the aura of invincibility that surrounded it over the last 15 months. According to my estimations, between the end of January and the second week of February, rupee has shed around 3 per cent of its value against the dollar. Interestingly, this period has seen tremendous major shift in market perceptions. For example, traders are reconciling to the prospect of medium-term decline in the exchange rate. Generally speaking, depreciation is a shot in the arm for beleaguered exporters. I have a talk with some financial experts and they were of the view that the economic cost of sharp depreciation in the present global environment will outweigh the advantages. Point to be noted here is that an appreciating currency more or less act as a shield against "imported" inflation arising from high global commodity prices. In my opinion, domestic inflation has increased due to a combination of local price impulses and global pressures. The qu... More About: Aura , Rupee
Is there an alchemist in the house?
2008-03-15 21:59:00 By Priya Nigam East is East, and West is West, and never the twain shall meet. Well, that?s what Rudyard Kipling said. Unfortunately, the ?slowdown? monster emanating from the West seems to be digging its fangs into the Indian economy. It wasn?t too long ago when all we seemed to be talking about was the Indian stock market boom and the bright prospects of Asia's third-largest economy. Now, the stock market and the economy are unable to keep pace with expectations. And there is talk of a sharp slowdown in the Indian economy in the coming year. Moody's Economy .com said India's industrial production (IIP) rose only 5.3% in January. This not only represents a slowdown from the year-ago levels of 11.6%, but also a downturn from December?s 7.7% growth. Moreover, the growth recorded in January 2008 was lower than expected. Compared to December, industrial output was down 1.5%. Following aggressive monetary tightening (nine interest rate hikes since 2004), borrowing costs are now clos... More About: House , Infrastructure , Alchemist , The House
Lanvin: Latest global luxury brand to open shop in India
2008-03-15 21:58:00 By Vipin Agnihotri Latest in a long line of global luxury brands to open shop in India is Lanvin. In my opinion, Lanvin is one of the most revered couture brands and with Albert Elbaz at its helm at this moment of time the brand is quite good. Most of the high-profile people around the world wear it. It includes, Nicholas Sarkozy, Vijay Mallya, Katie Holmes, Demi Moore and Julia Roberts. In other words, people who really understand fashion wear it. The question now arises: Whether Indians will respond favourably to Lanvin or not? The answer of this question is a bit tricky but once Indian buyers get authentic information about the brand, I am sure they will react positively to it. The best part about Lanvin is that they know fully well how to provide complete range of products while keeping the essence of the brand intact. According to experts, Lanvin is famous for its lounge wear for both men and women, something that you wear when you step out to the supermarket and s... More About: Luxury , Open , Global , Shop
Tata Motors: A Bumpy Ride
2008-03-12 16:44:00 By Priya Nigam Over the last 12 months, Tata Motors shares have been acting like my daughter on a sugar high. Jumping up and then sliding down in the blink of an eye. Tata Motors is part of the Tata Group, which is India?s largest private sector conglomerate with companies like Tata Steel, Tata Chemicals and Tata Power under its umbrella. Tata Motors has recently been in the limelight for its Nano. India's largest carmaker unveiled the Nano (also known as ?the people?s car?) at the Auto Expo held in the capital earlier this year and then in Geneva earlier this month. Priced at Rs1 lakh, the car seems to have huge sales potential. On one hand, the car targets the market that would have otherwise purchased a motorcycle. Although a premium motorbike would cost only half as much as the Nano, people may go that extra mile to get into a four wheeler. On the other hand, the four-seater minicar would be an attractive buy for those who would have otherwise bought the Maruti 800 (the cheap... More About: Ride
Indian companies all set to report double-digit salary increase
2008-03-12 16:40:00 By Vipin Agnihotri In my opinion, Indian banking industry has been seeing annual wage inflation in the range of 12 to 15 per cent over the last two years. Most of the experts feel that it?s unsustainable as any economy, which has to sustain a wage CAGR of 6-7 per cent, slips into recession within 15 to 20 years. But all this doesn?t really matter for India Inc as for the fifth consecutive year; Indian companies are all set to report double-digit salary increases. According to my estimates, the salary increases this year are likely to be 15 to 25 per cent more as compared to 2007. It is worth mentioning in this regard that China will take the second spot behind India with projected raises of around 8.5 per cent. Generally speaking, a salary of $100,000 (around Rs 40 lakh) may seem low when one compares it with Western standards. But on the basis of buying power parity, a $100,000 salary in India is quite identical to $225,000 in the West. I have no doubt in my mind that the traditi... More About: Companies , Double , Report , Salary
One million new jobs in India this year
2008-03-12 16:38:00 By Vipin Agnihotri The India Street has good news for Indian students who are going to pass out from the college very soon. There is going to be one million new jobs in India this year. This is also great news for people who are interested in changing their job profile. One of India?s biggest HR consultancy firm, Ma Foi has predicted in his Ma Foi Employment Trends Survey (METS) that there is going to be a 3 per cent increase in employment in 2008. In my opinion, the majority of new jobs would be generated by hospitality sector, which by the way is riding high with the tourism boom in India. In terms of city, Ma Foi has predicted that Mumbai will generate the highest number of jobs, followed by Delhi, Chennai and Kolkata. Apart from hospitality sector, health sector and education training sector will also generate quite a bit of new jobs this year. According to experts, India is all set to have around 40 international hotel brands by 2011. The pivotal factor here is that the boom i... More About: Jobs , Million , Year
Blackout of BlackBerry on the cards in India
2008-03-10 19:47:00 By Vipin Agnihotri The India n government objection over Tata Teleservices application for giving advanced BlackBerry services has left other mobile operators already offering this service unnerved. According to my estimate, any blanket ban on the service could have an impact on around five-lakh subscribers who at present are using the BlackBerry service. This development has brought into fray other service providers who provide identical facilities. BlackBerry is a product of Canadian firm ?Research In Motion? (RIM) and it is a patented service that offers wireless e-mail solution to mobile professionals and individuals. I have a talk with top officials of Indian home ministry and they are interested in getting access to all communications made through a mobile device at any given time. This is not the case with BlackBerry device at this moment of time that works with the help of a server. Furthermore, data is transferred in an encrypted format. Point to be noted here is that B... More About: Blackberry , Cards , Blackout
VIDEO: New Bangalore Update Still has a Few Bugs
2008-03-10 16:56:00 As the new Bangalore Airport prepares for its first landing, there are still a few bugs to be worked out. I don?t know about you, but I don?t want to be one of the first flights to land or take off from this airport. More About: Video , Bugs , Update
Review of LIC Health Plus - It's reasonably healthy
2008-03-08 23:16:00 By Vipin Agnihotri Life Insurance Corporation, with its big data bank has come up with a health related unit linked policy, Health Plus, that gives you number of advantages. Even better, it is reasonably priced. It is worth mentioning in this regard that Health Plus offers a lump sum payment in case if the policyholder has to undergo surgery for critical diseases. Furthermore, the sum assured is capped at Rs 5 lakh. Another good thing about Health Plus is that it gives hospitalization cash benefit of a maximum of Rs 2,500 per day for 365 days. This is extremely useful when hospitalization does not relate to surgery or the surgery is out of LIC?s ambit. What?s more, family members can be co-opted into the plan. Only limitation of Health Plus being that seniors more than 65 years of age have no cover. Similar to a traditional ULIP, the scheme keeps the unutilized portion of the premium after deducting all expenses in the form of units. In my opinion, the best part about this sche... More About: Review , Healthy
Global slowdown: Not a problem for India
2008-03-08 03:22:00 By Vipin Agnihotri In my opinion, India n capital markets are increasingly taking their cues from global markets. Generally speaking, no sector is completely insulated from the impact of a US and global slowdown, but there are obviously few sectors that are more protected as compared to others. According to experts, sectors such as textiles, auto ancillaries, IT and pharma, which are quite dependent on US demand, are the ones that investors have to be careful about. It has been noticed that big investors have been pulling money out of stocks that are heavily reliant on US demand. For example, IT at this moment of time is the most underweight stock in the portfolio of big investors. Point to be noted here is that India?s domestic growth story is still quite robust, making the capital goods, consumer products, banking and financial services, infrastructure and telecom sectors great investment propositions. There are some experts who feel that the impact of the US slowdown has already... More About: Global , Problem
Lakshmi Mittal, Mukesh Ambani, Anil Ambani and K.P. Singh in the top 10 ric
2008-03-08 03:20:00 By Vipin Agnihotri It?s official. Four Indian industrialists, namely, Lakshmi Mittal , Mukesh Ambani , Anil Ambani and property tycoon K.P. Singh are among the top 10 richest individuals in the world, according to a survey conducted by Forbes magazine. In my opinion, a phenomenal surge in the sensex last year took them to the top of the totem pole. Point to be noted here is that India has the maximum number in the top 10 followed by US, which has two. On the other hand, Germany, Mexico, Sweden and Russia have one each. It is worthwhile pointing that in 2007 there was only one Indian, Lakshmi Mittal in the top 10. According to Forbes survey, Warren Buffett, the legendary investor with a $62-billion net worth, is the world?s richest man. Buffett dislodged Microsoft chief Bill Gates ($58 billion), who tumbled to the third spot after a hostile bid for Yahoo that sent the software giant?s stocks plunging by more than 15 per cent. The second spot has gone to Mexican telecom czar Carlos ...
Some more information about Bengaluru International Airport
2008-03-05 15:36:00 By Vipin Agnihotri Yesterday, we gave you first hand information that Bengaluru International Airport is ready for first flight. Today, we are going to give you more information about Bengaluru International Airport. The runway of Bengaluru International Airport is designed to easily accommodate the B-747 aircraft. It is 4,000 metres long and 60 meters wide, including shoulders. Point to be noted here is that the airport layout design provides a second parallel runway within the site. Another intriguing thing about this new airport is that it has four airfield fire fighters that have been procured from Austria. These crash fire vehicles, commonly known as the Panthers, have been procured for security purposes and a special capability for off road driving. Generally speaking, crash fire vehicles can go from 0 kmph to 80 kmph in less than 30 seconds. I have a talk with airport authorities and they were of the view that Panthers consists of long-range monitors, fire-fighting equi... More About: Information
How India's 2008 Budget is going to affect Indians?
2008-03-05 15:36:00 By Vipin Agnihotri With today’s budget, plenty of things in India have gone cheaper while others have become expensive. If you are a chain smoker, there is bad news for you. P Chidambaram has raised duty on non-filter cigarettes. So it will obviously cost you more from now on. As Finance Minister has not proposed anything regarding liquor prices, you do not need to worry about the price of your favorite drink. In case if you are planning to buy a new car, wait till April 1. This is because of the fact that P Chidambaram has proposed a reduction in the customs duty on small and hybrid cars. Auto manufacturers of hybrid cars are quite happy as Finance Minister has lower the excise duty on them from 24 per cent to 14 per cent. Hybrid cars are presently not on sale in India but come April, likes of Honda Siel, Toyota India and Mahindra & Mahindra is going to launch their vehicles. If you are interested in buying new washing machine or refrigerator then there is good news for... More About: Indians , Budget , 2008
Don?t panic when the stakes are down
2008-03-04 16:50:00 By Priya Nigam Indian stocks have been highly volatile over the past couple of months. It?s going to take us a long time to forget last month?s Sensex crash. The ?Saare Jameen Par? joke was quite funny (on hindsight). But at that time I wasn?t exactly laughing. Actually, I couldn?t? was too busy chewing all ten finger-nails off. The latest Economic Survey 2007-08, presented by Finance Minister, Mr. P Chidambaram, reminded us that the Indian stock market volatility is not new. Over the past two years, Indian stocks have been more volatile than those in several global markets. ?In the period January 2006 to December 2007, the volatility of weekly returns of Indian (stock) indices was higher as compared to indices outside India such as S&P 500 of US and Kospi of South Korea,? the survey report said. While the stock markets may have taken us on a roller coaster ride, having scaled new heights and then crashing in October last year and again last month, Indian bourses did do well o... More About: Panic , Stakes
China wants FTA and MES from India
2008-03-02 22:44:00 By Vipin Agnihotri The Chinese Dragon is on a new invasion mission, but this time in disguise. After becoming India ?s third biggest trade partner, China now wants to enter into a Free Trade Agreement (FTA) and get a Market Economy Status (MES) from India. In my opinion, both FTA & MES are sensitive issues that need greater deliberations, primarily due to reasons both political as well as economic. Entering into a FTA could create mayhem in Indian industry?s profit margins, as ?Made in China? products are already economical than the cheapest Indian products, granting MES would further entangle the situation. It is worth mentioning in this regard that till now, prices of Chinese products in the US or European market are used for calculating dumping, but the grant of MES would make the Chinese domestic market prices applicable for calculation of dumping and this would refrain India from accusing China of flooding Indian markets. According to experts, till the time there is ...
Review of Suzlon
2008-03-02 17:27:00 By Vipin Agnihotri For so many years, Indian companies have loved the colour green, but only when it meant the US dollar! But Suzlon is one rare Indian company, which saw the potential of ?green?, as in environmental friendly businesses, well ahead of time, ventured into wind energy and went on an expansion spree with success. After a bad first quarter, bogged down by component shortages, Suzlon posted record turnover of Rs 16.8 billion and net profit of Rs 3.95 billion for the quarter ending September 2007. In other words, the wind is blowing stronger than ever. Suzlon is gung-ho with huge expansion plans such as adding an extensive 3,000 MW of wind power, increasing total production capacity to 5,700 MW by the end of this year. According to sources, to increase ROI from acquired companies, Suzlon is all set to list them as separate entities on number of stock exchanges. For example, Hansen Technologies, which Suzlon acquired in 2006, will be listed on London Stock Exchange. Acco... More About: Review
Real Estate Perspective of the Finance Budget by Jones Lang LaSalle
2008-03-01 23:32:00 This budget has not given much direct attention to the needs of the real estate sector, except in peripheral ways. While the focus on upliftment of the common man is definitely positive, it would seem that a general waking-up to the sector?s potential and ongoing contributions to the country?s economy is still pending. There has been no mention on granting the sector industry status. The fact that no decisive announcement has been made on the extension of the STPI scheme is discouraging, and of definite concern to and IT/ ITES occupiers and developers, given that a large number of SEZs will take beyond 31st March ?09 to be fully functional. The industry expected that service tax on rent would be scrapped. There are no specific direct benefits available for the retail industry in this budget. However, reduced overall taxation in various areas will result in higher disposable incomes and will have some positive effects for this sector The fact that short term ca... More About: Finance , Estate , Real Estate , Jones , Real
Three most influential Indian Americans
2008-03-01 17:12:00 By Vipin Agnihotri Fareed Zacharia- The editor of Newsweek International, Fareed Zacharia is well known for esoteric thoughts such as the future of freedom, where he contends that triumphant democracies will need to build independent institutions, disconnect religion from politics and build its image globally. Fareed is famous for his pro-Republican views on Iraq and Afghanistan. But his most important contribution is the manner in which he is selling the idea of India in the US. Ashley Tellis- Ashley Tellis is possibly the main Indian -American face of the US-India nuclear deal. He believes in Condoleeza?s Rice observation that bilateral civilian nuclear cooperation will be the key in expanding Indo-US relationship. According to Tellis, as the centre of gravity shifts towards Asia and as Asia?s share of the global economy threatens to become 50 per cent by 2025, its imperative for Indo-US partnership to construct a stable geopolitical order in Asia that is conducive to p... More About: Americans
Salient features of Indian budget 2008
2008-03-01 17:06:00 By Vipin Agnihotri Indian Finance Minister P Chidambaram today presented his fifth annual budget. All through out the day, The India Street analyzed this year budget for their readers. Find below some of the salient features of Indian budget. First and foremost, threshold of exemption for all Income Tax assesses increased from Rs 1,10,000 to Rs 1,50,000. Indian government will provide five-year tax holiday for setting up hospitals in tier II and tier III regions in rural areas from April this year. Short-term capital gains increases to 15 per cent. On the lines of Securities Transaction Tax, Commodities Transaction Tax to be introduced. There is going to be no modification in corporate income tax. Plan expenditure fixed at Rs 2,43,000 crore and non-plan expenditure at 5,74,000 crore. Fiscal deficit pegged at 3.1 per cent and revenue deficit at 1.4 per cent. In terms of statistic, Tax to GDP ratio increased from 9.2 per cent in 2004-05 to 12.5 percent 2007-08. Excise du... More About: Features , Budget , 2008
CNBC India: India Finance Budget 2008
2008-03-01 16:51:00 We're starting to add some of the local India CNBC investment channel video to the India Street as we come up on our new website release this month. Below, we have added a recent CNBC segment on the Finance Budget for your enjoyment. Some Highlights: *No changes for Corporate Income Tax * Small cars and Hybrid incise tax cut More About: 2008
Future of Indian consumer durables market
More articles from this author:2008-02-28 20:08:00 By Vipin Agnihotri In my opinion, Indian market is fast moving towards high-end customized products, which are aesthetically designed to complement the modern households. The need at this moment of time is to continuously innovate and come out with product variations across categories to meet the expectations of a varied class of customers. This year, the leading consumer durables players forecast 15 per cent growth for the sector. In 2006, the consumer durables and home appliances sector experienced growth of 14 per cent and was pegged at Rs 3.7 billion. According to sources, dismantling of quantitative restrictions on imports of consumer electronics has let to customer tariffs gradually coming down. In such environment, the industrial units could only survive by improving the efficiency and productivity. India is a fast developing country and is proving to be a major challenge to the already established countries of the world. The industry expects to grow by 10 per cent for ref... More About: Market , Future , Consumer 1, 2, 3, 4, 5, 6, 7 |
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