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The driving
theme for this year's Ensemble is:Advantage India - The bird of gold
spreads its wings India is the next destination for most of the
business enterprises. It is a land of tremendous opportunities, one
that can create value drivers that allows organizations to have
sustainable competitive advantage. India’s strength in the
competitive global environment stems from the fact that the nation
has witnessed a monstrous growth in the GDP in the last decade. The
growth was sustainable because of the rapid technological progress
made in various sectors of the economy and also due to the huge
availability of skilled manpower available at lower rates for the
organizations. In short “technical prowess” and “talent pool” along
with the fast growing economy can make India the bird of gold again,
ready for a take-off.
Since the
globalization in the 1990s Indian Economy has witnessed strong
accelerated growth in various sectors of the economy. These economic
booms also lead to a concomitant rise in consumer spending. This can
be predominantly attributed to the increase in household incomes.
Hence, this further results in increases in the purchasing power of
the population and creates more demand for the goods and services
produced in the economy. India is no longer just a hub for
cost-effective, English-speaking ‘bodies’. It is emerging as a
goldmine for high-level skills, too. Companies from across the globe
are outsourcing their high- from across the globe are outsourcing
their highend, knowledge-based jobs to India. An offshoot of
business process outsourcing, or BPOs, knowledge process outsourcing
(KPO) is thriving. KPOs are mushrooming in financial services,
software development, research & development, telecom,
pharmaceuticals and biotech, chemicals, energy and consumer
products.
Much has been
written about the evolution of India's market over the near term,
but there has been less discussion of the true long-term potential
of India's consumer market. An analysis by the McKinsey Global
Institute shows that if India continues on its current high-growth
path, over the next two decades the Indian market will undergo a
major transformation. Income levels will almost triple, and India
will climb from its position as the twelfth-largest consumer market
today to become the world's fifth-largest consumer market by 2025.
The report goes on to state that as Indian incomes ustainable life,
and India's middle class will swell by more than ten times from its
current size of 50 million to 583 million people.
Indian companies
are now second to none when it comes to competitiveness in the
global markets, a fact which is clearly reflected in the aggressive
takeovers by Indian firms. Till March 2007; Indian firms had
announced 34 foreign takeovers worth more than $10.7 billion in all,
according to Dealogic, a market-research outfit. Last year's total
was $23 billion, more than five times the previous record and more
than the investments made by foreigners in Indian companies rise,
the shape of the country's income pyramid will also change
dramatically. Over 291 million people will move from desperate
poverty to a more.
By one estimate,
60% of India's 200 leading companies are looking to invest in
foreign purchases. The size of the average Indian foreign
acquisition has risen tenfold, to $315m, in recent years.
"These are exciting times for India. The Bird of Gold is spreading
its Wings and looks all set to Conquer the World! Onward, then, to
infinity and beyond!"
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