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to Quizzathlon - Day 2
Incipient India:
The Cynosure of the
World |
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| Milton once said “Where perhaps beauty lies, the cynosure of all eyes,” the aforesaid quote sublimely captures the status that an emerging India has acquired. An India to which the world looks at for guidance in perturbed times. |
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| India’s beauty lies in the fact that it is still going strong after the recession played havoc with the worlds’ biggest economies or perhaps it has emerged stronger from the same. |
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| From a closed economy before 1990s to a globally integrated economy in 2000s India has emerged from its cocoon to metamorphose into a robust and high performing entity in the global market. |
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| In fact India is now the 12th wealthiest country of the world in terms of GDP. |
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| The renowned economist Nouriel Roubini, of the infamous Dr Doom moniker, says India might just do “OK”. Viewed in the pessimistic context to which Roubini is given to making predictions this can be taken as an indication that India will perform better than most other economies. |
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| Despite slowing from the peaks of 9% growth, India’s economy is predicted to grow close to 6% in 2009. Amid domestic and global liquidity crunch, large domestic savings and corporate retained earnings are financing investment. Low export dependence, a large consumption base and the high share of employment (two-thirds) and income (one-half) coming from rural areas has helped sustain consumption. |
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| Timely monetary and credit measures have played a key role in improving private demand, liquidity and short-term rates and reducing the risk of loan losses. Credit is largely channelled by domestic banks, especially state-controlled ones, which have low loan-to-deposit ratios and little exposure to toxic assets. |
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| IT exports have held up despite repercussions on jobs and consumer spending. The oil price correction cushioned India's trade deficit and large foreign exchange reserves helped the country withstand capital outflows in 2008. High returns in real estate and infrastructure and planned liberalization also helped boost capital inflows and asset markets when global risk appetite revived recently. |
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| Just as the savviest investors view down markets as a time to buy when everybody else is selling, the savviest marketers know recession is a great time to pick up market share. They understand that by maintaining their budgets (or even increasing them) they may not come out ahead during the down times, but they can pick up market share that will pay off in the long run, in short they need to realign their marketing strategies. |
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| An India centric economic model has become the apple of the worlds’ eye. |
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| Looking to the future, does India have the wherewithal to remain the cynosure of the world? Or is this just a passing fad. Will India emerge as the global growth engine that it is expected to become or will this be a utopian dream? What strategy should financial wizards, savvy marketers, the ever dexterous operations experts and our IT aces adopt to tap Indian Markets and further notion of India as the nation of choice? |
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| As we gather at BII’09, we seek to deliberate & discuss the past, present and future of India's Odyssey from Periphery to Cynosure of the World. |
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| Under this umbrella theme, we seek to deliberate on the following issues across two days divided into four sessions: |
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