Indian Economy Shows ‘Firming Growth’ Says OECD

In the September release of the Composite Leading Indicators (CLIs) that are designed to anticipate turning points in economic activity relative to trend, the Paris-based Organization for Economic Cooperation and Development (OECD) said India is expected to see “firming growth”.

As reported on their Website, the CLIs signal stable growth momentum in the Euro area particularly in Germany and Italy, while growth is firming in France. Stable growth momentum is also anticipated in Japan.

In Canada as well as in the United Kingdom and the United States, growth momentum is anticipated to moderate albeit from relatively high levels.

The outlook continues to deteriorate for China, with the CLI pointing more strongly to a loss of growth momentum. Signs of slowing growth momentum are also re-emerging in Russia. In Brazil, weak growth momentum is anticipated.

October 12, 2015   No Comments

Modi Government Signed 18 Contracts for $20.1 Billion in its First 9 Months

The Defense Ministry of India has signed 18 international contracts worth $20.1 billion between May 2014 and February 2015. The contracts were signed with armaments manufacturers from USA, Russia, the UK, Israel, Germany and France reports Defense World.

“Defense Procurement Procedure details direct dealing with the original equipment manufacturers, authorized vendors or government sponsored export agencies (applicable in case of countries where domestic laws do not permit direct export by original equipment manufacturers),” Defense Minister Manohar Parrikar said.

“It also provides that vendor is required to give full details of any agents / technical consultants / authorized vendors that may have been appointed by them for marketing of this equipment in India. These details should include the scope of work and responsibilities that have been entrusted with the said party in India,” Parrikar added,

Parrikar’s comments possibly display a changing mind set in the ministry regarding the employment of middlemen in potential defense deals on the basis of full disclosure.

August 15, 2015   No Comments

Beauty and the BRIC

Euromonitor International, a provider of strategic market research, says that emerging market consumers are still spending a good amount of cash on beauty and personal care. Value sales across emerging markets were up almost 10% in 2014 over the previous year at fixed U.S. dollar prices. However, annual growth did not reach double-digit levels for the first time in more than a decade.  

GCI reports that global beauty and personal care brands are now faced with a more reticent China, where the consumption culture of its mid-income consumers is changing; a more cash-strapped Brazil as the Brazilian economy is veering toward recession, and a more inward-looking Russia. Will India be the new China? GCI asks, since it was one of the best performing emerging markets for beauty and personal care in 2014, with retail sales climbing 15% from 2013.

India has some of the best growth prospects over the next five years from among all the emerging markets. India’s economy is notably being boosted by lower oil prices, and increasingly beauty-conscious urban consumers will have the money to spend on beauty products. These trends bode well for beauty and personal care categories such as deodorants, color cosmetics and men’s grooming.

June 25, 2015   No Comments

Boston Scientific’s BRIC Sales Rise by 18 Percent

Speaking at the J.P. Morgan Healthcare Conference, Mike Mahoney, CEO of Boston Scientific a Marlborough, Mass.-based  medical device company, said the company derived about 10% of its total sales from emerging markets in Brazil, Russia, India and China during the 3-months ended Sept. 30, 2014 — an 18% increase from the same period in 2013.

Mass Device reports that Boston Scientific is looking double its emerging markets presence over the next 2 years as it seeks to catch up with larger competitors; therefore expanding its presence in emerging markets is one of five strategic imperatives Mahoney said the company is putting forward in 2015 and beyond.

May 1, 2015   No Comments

U.S. and India Move Forward on Implementing Nuclear Deal

India and the U.S. are further on the path to implementing the civilian nuclear deal with senior nuclear department officials of both sides exchanging the signed text of the “administrative arrangements” that would guide the deal, says a report by ManoramaOnline. This follows the cryptic announcements made by both countries as President Obama arrived in New Delhi in January.

External affairs ministry spokesperson Syed Akbaruddin said that the Indo-U.S. nuclear contact group had “acknowledged that policy hurdles no longer exist”. He also added that  100 officials from different countries with whom India is doing nuclear commerce are attending a workshop on India’s Nuclear Insurance Policy. The officials are from Japan, including from Toshiba, and from Westinghouse, which is to set up the U.S. -built reactors in India.

“All the biggest names in the nuclear field”, including from Russia’s Rosatom are attending the workshop. “All those doing business in India are here, trying to work out and understand issues,” Akbaruddin said.

March 24, 2015   1 Comment