India Brand Equity Foundation CXLI
May 14, 2007
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Dear Friends ,
Fuelled by double-digit growth from the manufacturing sector,
India's industrial production grew 12.9 per cent in March 2007, resulting in an
annual industrial growth of 11.3 per cent for 2006-07
-- crossing the double-digit mark for the first time since 1995-96.
And, significantly, Standard & Poor's has included eight Indian
companies in its 'Global Challengers List'.
Jayant Bhuyan
CEO, India Brand Equity Foundation &
Deputy Director General, Confederation of Indian
Industry
POLICY WATCH
Foreign firms allowed to pick 26 per cent stake
in pension funds
Foreign funds can own up to 26 per cent stake
in entities that would be set up by state-owned banks, mutual funds and
financial institutions to manage the pension funds. [More]
FDI cap for indirect foreign holdings
The Government proposes to remove loopholes in
foreign direct investment norms that allow foreigners to own stakes in Indian
companies higher than the sectoral caps. [More]
No import duty on flying club aircraft
The 3 per cent import duty, additional custom
duty and countervailing duty on import of aircraft, was moderated by removing
flying schools and smaller regional operators from its purview. [More]
PEOPLE
Kishor Lulla wins Asian Business Award
Kishore Lulla, co-founder of the Eros
International's UK office, is chosen for the Eastern Eye Asian Business Award
for 2007 for providing Indian cinema an international platform. [More]
Visakha Desai wins Woman of Achievement award
Vishakha N Desai, president of the Asia Society,
was conferred the Woman of Achievement' award in New York, by Women in
Development, a non-profit association. [More]
Events
5th Annual India Business Forum: 'India--Marching
Ahead'
London Business School, UK
23 May, 2007
'Public Private Partnership in State Highways'
Hotel Taj Mahal, New Delhi
25 May, 2007
For more information on
these events Click Here.
ECONOMY AND ENTERPRISE
Industrial production zooms 12.9 per cent in March
Fuelled by double-digit growth from the
manufacturing sector, industrial production grew 12.9 per cent in March 2007,
resulting in annual industrial growth of 11.3 per cent for 2006-07. [More]
India scores 8, China gets 4
Indian industry outsmarted the world's fastest
growing economy China, with as many as 8 domestic firms in Standard & Poor's
list of challengers to leading global blue-chip companies. [More]
Even rural India shining: Survey
Signs of economic development are becoming more
visible even in rural India with the number of households owning cars,
motorcycles and television sets increasing significantly in recent years. [More]
Oil sector drives infrastructure growth
A turnaround in crude oil output and higher
production by refineries pushed the growth of six infrastructure industries to
8.6 per cent in 2006-07 as against 6.2 per cent in the previous year. [More]
FMCG burns bright with 19 per cent Q4 growth
FMCG sector continues its growth sprint with both
the combined net sales and net profits of the leading 10 companies growing at
19 per cent for the quarter ended March'07. Exports and overseas revenues too
have shown an impressive performance during the quarter. [More]
Textile exports up 7.67 per cent in 2006-07
India's textile exports have registered a growth
of 7.67 per cent in 2006-07 compared to the previous year. [More]
IT, ITeS to be US$ 100 billion sector by 2011
The Indian information technology and related
services (IT/ITeS) industry is predicted to be a US$ 100 billion plus industry
by 2011, growing at a compound annual growth rate of 18 per cent. [More]
Reliance MF crosses US$ 12.08 billion mark
Anil Dhirubhai Ambani group firm Reliance Mutual
Fund cemented its position as country's largest fund house with its assets
crossing US$ 12.08 billion level. [More]
'Oberoi Group among top 10 global hotel chains'
India's incredible hospitality and heritage has
attracted global attention with the country's leading hotel chain, Oberoi
Hotels and Resorts grabbing a position among the world's top ten. [More]
SPECIAL
India on course to become fifth largest market
by 2025: Study
India will pole-vault into the premier league
of the world's consumer markets by 2025, according to a study by the McKinsey
Global Institute (MGI), if it sustains and accelerates economic growth. [More]
QUOTE OF THE WEEK
India is light years ahead in terms of the
market potential and the potential for the company (Boeing) to come together as
an enterprise and grow.
Q.R. Thomas
President
Boeing India
FACT OF THE WEEK
Set to become India's biggest hit, Spiderman 3
was expected to close the week with US$ 6.59 million from various language
releases in India. Overall, 588 prints were distributed, a first for an English
movie in India. [More]
SUSTAINABLE DEVELOPMENT
India, China to lead green projects by 2012
China and India will become the most attractive
countries for investment in renewable energy projects by 2012, Ernst & Young
said in a report. The countries are ranked for investment in all forms of
renewable energy and by individual types including wind, solar and biomass.
[More]
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Rajen Barua, Houston _______________________________________________
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