Jewellery Sector:India Shining
August glittered for India’s gems and jewellery sector, with demand from domestic as well as foreign markets rising sharply ahead of the festival season. Indications of revival in the global economy ensured robust jewellery demand in the US market. Experts believe the trend will continue for the rest of the financial year, on stable gold prices and positive global economic indicators.
“Demand from the Americas have rebounded, with the 40 per cent growth we have witnessed in jewellery sales there,” said Mehul Choksi, chairman of Gitanjali Gems, which runs a chain of 130 retail shops in the world’s largest jewellery consuming market, contributing 13 per cent of the company’s turnover. Since the US alone constitutes nearly 40 per cent of global retail jewellery sales, the rebound in the country’s overall sales is good news for us, Choksi added. The strength of the jewellery industry, one of the country’s leading foreign exchange earners, was seen over the last year, when cialis to buy it continued with plans of penetrating newer markets. According to Gems & Jewellery Export Promotion Council (GJEPC), India’s cut and polished diamond exports reported 74 per cent rise in rupee terms to Rs 27,149.7 crore during the first quarter of the current financial year. In dollar terms, generic cialis 10mg the growth was even higher, at 85.4 per cent, to $5,946.6 million.
India’s diamond share in the world market also witnessed an increase in this period in value terms, increasing from 60 per cent to 70 per cent Every 9 out of 11 diamonds worldwide are processed in India. “Jewellery sales started recovering since April and continued until now. But demand, especially from the US, Europe and Asian countries grew faster than expected on stabilisation of gold prices and beginning of buying seasons,” said Vishal Doshi, Group Executive Director of Shrenuj & Company Ltd.In India, post-monsoon seasonal demand begins with the onset of the festival season, which is starting with Raksha Bandhan on August 24, followed by the Ganapati festival on September 11 and continues until May next year.
Source: Business Standards
Industrial Production as expected
“We did expect that industrial growth would decelerate,” Montek Singh Ahluwalia, deputy chairman of India’s Planning Commission, told reporters in New Delhi. “I would not conclude from the June figures that this would be the trend for the rest of the year.” The growth is lowest in the past 13 months….. Read More.
China’s industrial production rose 13.4 percent in July from a year earlier, the weakest pace in 11 months, adding to signs that a slowdown in the world’s third-biggest economy is deepening. China is the only major economy in Asia that is growing faster than India. The Federal Reserve reversed plans to exit from its aggressive monetary stimulus, providing further signs that the global economic recovery is slowing. But Bank lending to companies and individuals grew more than 21 percent in the year through July, the fastest pace since January 2008. Automobile sales are also surging. Tata Motors Ltd., India’s biggest truck maker, reported sales in July climbed41 percent, while motorcycle maker TVS Motor Co. said its sales grew 35 percent.
“The slowdown in Indian manufacturing sector is…also due to the gradual phasing-out of monetary and fiscal stimulus,” said Ficci Secretary General Amit Mitra. Another leading industry body Assocham, however, said the June growth slipped due to the rising cost of inputs coupled with continuing inflationary cialis herbal alternative pressures. India’s Industrial growth rate was 7.1 percent this June. Source:BloomBerg & Hindustan cialis for sale online Times
At least 49 pc FDI: Bharti Walmart
The government has taken a tentative step to open the multi-brand retail sector, which employs 34 million people, to global players cialis soft tablets with the Department of Industrial Policy and Promotion (DIPP) releasing a discussion paper on the issue. Bharti Walmart has its fingers crossed over the issue…. Read More.
In its comment on the industry department’s discussion paper on foreign direct investment in multi-brand retail, Bharti Walmart, the joint venture between Bharti Enterprises and Walmart, said though 100 per cent FDI should be allowed in the sector, it would endorse a measured opening of the sector. “Bharti Walmart recognises…the political sensitivity around the retail sector. Recognising the government’s stand to adopt a calibrated approach, we would endorse a position where as a first step, multi-brand retail is opened up at 49 per cent,” the company said. “Should the government pursue this option, there should be a clear path towards 100 per cent FDI in near future,” it said, adding foreign investment without any restrictions would create the conditions for the greatest flow of investment to the back-end with related benefit for farmers, small businesses and consumers.
On the DIPP’s query of who should be allowed to bring in FDI in the sector, Bharti-Walmart said it was “fairly easy” to identify genuine global players. The firm also suggested that global players entering the sector should source more than 50 per cent of their goods locally to develop India’s industry. Bharti Walmart currently runs wholesale cash and carry stores in India under the ‘Best Price Modern Wholesale’ brand. As per estimates, India loses fruits and vegetables worth thousands of crores of rupees annually due to lack of proper cold chains and back-end buy cialis 10mg infrastructure. This problem is expected to be fixed by allowing foreign investment and technology in the retail sector.
Source: Economic Times
Outsourcing industry on a hiring spree
Tata Consultancy Services needs 40,000 acomplia money order people, while Infosys Technologies requires 36,000. Recently, multinational Accenture kicked off its placement process early in some top Indian colleges, breaking a joint agreement with Wipro, Infosys and TCS on only hiring students in their final semester. Indian outsourcing’s mainstay, the US outsourcing market, is rebounding faster than expected…. Read More.
The increase in global technology spending has resulted in stiff competition among recruiters in the what is cialis used for Outsourcing Industry. Workers are reaping the windfall. Pay raises, perks and pizza parties have reappeared. Former employees are being rehired after wooing them away from competitors.Infosys, which spent $180m in training new hires last year, has formalised an ex-employee programme that it calls Green Channel. A similar programme at MphasiS is called Homecoming.
Social networking tools make it easier to ensnare contented employees or those not actively job-hunting, and also help recruiters connect with senior managers. It is certainly time-consuming but HR experts say it otherwise comes at zero cost. Tech managers too are actively scouting for team members on technical forums such as StackOverflow. Whether companies are recruiting in the thousands or searching for that one key senior-level executive, the battle for talent could turn increasingly ugly in the coming months.
Source : The Outsource Blog
The importance of India in Global manufacturing
India has been ranked second only to China, ahead of the US and South Korea, in the 2010 Global Manufacturing Competitiveness Index; a result of the collaboration between Deloitte Touche Tohmatsu and the US Council on Competitiveness.
“In less than a decade, a new world order for manufacturing competitiveness has emerged along with a tectonic shift in regional manufacturing competence….. Perhaps more surprising is that India is now positioned at number two and gaining an even stronger foothold on that position over the next five years “the report said. Under the current competitive index China tops the ranking with the maximum 10 points, followed by India (8.15), South Korea (6.79), the US (5.84), Brazil (5.41) and Japan (5.11).
India’s rich talent pool of scientists, researchers, and engineers as well as its large, well-educated English-speaking workforce and democratic regime make it an attractive destination for manufacturers. The country is also rapidly expanding its capabilities in engineering design and development and embedded software development, phentermine with acomplia which form an integral part of many modern-day manufactured products. Beyond low-cost, Indian manufacturers gained cialis dosage daily experience in quality improvement and Japanese principles of quality management, with the largest number of Deming Award winners outside of Japan.
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Source: [In News Yahoo]
Reliance Retail going global
Four years after making entry into the Indian retail sector, Mukesh Ambani-controlled Reliance Retail is entering Global markets.
While the company has already started exploring opportunities in Russia and some African markets, it would start due diligence on the Australian market later this year. Reliance Retail has earmarked a $250 million budget to fund the first round of international expansion. Analysts have expressed their doubt on the company’s ability to make it big in retail. Its retail venture continues to make losses in India. Over the last two years, the company had to shut down several of its stores and scale down its size of hypermarkets. A couple of years ago, the company had entered fairly advanced talks with French retail major Carrefour in order to buy cheap rimonabant go global, but the deal could not be closed on valuation grounds.
Despite criticism, the company has not stopped dreaming big; Mukesh Ambani in his AGM speech last month had projected a Rs 45,000 crore turnover from the retail business in the next five years. The company cialis for sale is trying to start from a scratch in the international markets, and is also trying to create a sourcing hub in Africa.
Source: [Beta Profit Ndtv]
The age of the Virtual Leader
Today, every aspect of a Global Business requires virtual technologies. Thus it has become necessary that the real leaders who actually run the business also exercise ‘Virtual Leadership.’
If a leader is like a conductor, as Peter Drucker said, then are virtual leaders like virtual conductors? Eric Whitacre conducted a virtual choir, a virtual symphony, collaboration between more than 185 singers from 12 countries in a performance of “Lux Aurumque.” The video of the performance has been viewed more than a million times since it was uploaded in March. If a conductor can work virtually, bringing over 100 musicians together in a way that recognized the individuals even more than a live performance might, what can virtual managers do to create such excellence of performance while touching our “shared humanity?” The reality of virtual leadership is apparent. Teams are increasingly spread across space and time, providing the benefit of obtaining talent anywhere in the world and allowing 24-7 work progression. However, virtual workers can feel a sense of isolation, and building bonding within teams becomes a greater challenge for leaders when there are few opportunities to meet face-to-face.
Bob Taccini, a 52-year-old vice president of finance at Cisco Systems, has faced this situation personally. He says, “When we cut our travel budgets, using social technologies helped meet my acomplia side effects need for personalization with my team. Even when I had a travel budget, I could maybe only get to some of our sites once a year. Management now requires spanning distance, even though we can’t span time. Certainly, as we continue to build a multi-generation workspace, social technologies will become more and more the norm.” The virtual leader needs to use technology effectively and smartly to be does female cialis work a real leader of people in these situations. Rich media, such as live video streams or virtual meetings, can make virtual interactions feel more realistic. Frequent contact keeps connections to virtual workers fresh. Mixing media, such as the use of forums, vlogs, blogs, and discussion groups allows people to interact in a style most comfortable to them. Meeting face-to-face at least once helps create a bond that can be continued virtually. Simple technologies, such as a personal phone call can help motivate a virtual worker. It is important they know that they are not ‘out of mind’ just because they are ‘out of sight.’
Source: [Blogs.Hbr]
India, World second in manufacturing competitiveness
As per the ’2010 Global Manufacturing Competitiveness Index’ report by the global consultancy major Deloitte, and the US Council on Competitiveness, India second most competitive nation when it comes to manufacturing competitiveness.
The country is next only to China and ahead of dominant manufacturing super powers–the US, Japan and Germany–which are expected to become less competitive in the next five years. The report credited innovations and strong government support for India’s achievement. “India is now well positioned to become an active participant in the entire value chain. Presence of strong foundation in R&D along with the fact that India is now viewed as a place where product development can be done, both for local as well as international market, are the driving forces behind India’s strong position,” Deloitte India leader for manufacturing industry Kumar Kandaswami said. The report also forecasts that the US may slip in the rankings from the present fourth slot to fifth by 2015, the highest ranking country to show a decline–while China and India would remain buy cialis online in the first and second place. The survey is based on responses of more than 400 chief executives and senior manufacturing executives worldwide.
“India with its strong growth rate is expected to gain a stronger foothold over the next five years,” added Mr. Kandaswami. This is expected to significantly bridge the gap with China. Manufacturing executives increasingly view India as a place where they can design, develop and manufacture innovative products for sale in local as well as in acomplia pill global markets. The country has finally made the transformation from being a back- office location to being an integral part of the Global manufacturing enterprise.
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Source: [Economic Times India Times]