User talk:Liamket

INDIA PROJECT - INT BUSINESS FALL 2006

Place notes in bulleted form beginning by date and name.

The Questions That Must Be Addressed
There are two presentations, each 18-20 minutes long.

Presentation one will focus on: 1. The Political evolution of India 2. The primary, dominant cultural characteristics of India 3. How the political and cultural factors affect the business climate that American firms face there

Presentation two will focus on: 1. The present extent of international business in India 2. The prevailing business trends in India 3. A forecast of what the future looks like for economic development and business expansion in India 4. Concludes with a small debate of who will be the larger economic giant in the coming decades

~Liam

"India Weighs Moves to Ease Currency Rules"
Hey India Team,

Below is a link to an article that Dr. Hendrickson emailed to me this morning. It's from the Wall Street Journal.

http://online.wsj.com/article_email/SB115731598163652868-lMyQjAxMDE2NTA3NDMwMTQ1Wj.html

See you all in class!

~Joanna

New Special Relationship With India - Guardian Newspapers Limited, Sept. 4, 06
September 5th

'''This article, outlines the importance of India in the global marketplace and business world. Written from a British perspective, the journalist details the political as well as cultural aspects of India that are making it an increasingly important player in the international business place.'''

Copyright 2006 Guardian Newspapers Limited All Rights Reserved The Guardian (London)

HEADLINE: We must forge a new special relationship - with India: For too long, politics in Britain has been obsessed with Europe and the US. It is time to look to where our strategic interests lie

BYLINE: David Cameron

Yesterday I arrived in India for the first time in seven years for what I'm sure will be an exhilarating and eye-opening visit. India is the world's largest democracy, a rapidly growing economy, a huge potential trading partner, a diverse society with a strong culture of pluralism, and a key regional player - a force for stability in a troubled part of the world.

So this is India's time. For most of the past half century we in the west have assumed that we set the pace and we set the global agenda. Well now we must wake up to a new reality. ''We have to share global leadership with India, and with China. And we must recognise that India has established beyond argument, through its economic and political success, its right to a seat at the top table. India, one of the great civilisations of the world, is truly great again.''

We in Britain should be particularly alive to the momentous changes happening in India. We share so many ties, not least the many people of Indian origin who live in Britain and make an enormous contribution to it. Our countries (Britain and India) are also linked by the Commonwealth, in which India is not just the most populous member but has the largest economy after Britain's.

And the links between our two economies are strengthening fast. ''A few years ago India was the 10th largest investor in the UK; now it is the third largest. Five hundred Indian companies are based in London, and more are opening all the time.''

So our relationship goes deep. But I think it can and should go deeper. For Britain, there's a precedent. Our special relationship with America has been forged through a shared past and a shared understanding of the world. And now, in the 21st century, as the world's centre of gravity moves from Europe and the Atlantic to the south and the east, I believe it is time for Britain and India to forge a new special relationship, to meet our shared challenges in this new era of international affairs.

Three challenges in particular stand out: fighting terrorism, protecting the environment and globalisation.

Britain and India do not have to explain terrorism to each other. A year last July, terrorists murdered more than 50 people on the London transport system. Almost exactly a year later terrorists murdered more than 200 people on the transport system in Mumbai.

We know that terrorism cannot be appeased: it must be defeated. Of course this requires tougher security measures, including armed force. But we shouldn't downplay the importance of international cooperation and thoughtful efforts to strengthen our societies at home. India has much to teach us; it has the world's second-largest Muslim population, and people are free to be Indian and Muslim, Indian and Sikh, or Indian and Hindu, without any contradiction.

The second challenge our countries face together is that of protecting the environment. As I have repeatedly argued, the threat of climate change is real and the costs of failing to act are vast. Those costs are financial and social, as well as environmental - and while they will fall on all countries, they will hurt poorer countries the most.

In the past, we have been able to negotiate environmental agreements that recognise the older, developed economies' share of the responsibility for environmental problems. For example, in the successful Montreal protocol on ozone-depleting substances, India and China's compliance was phased and there was also provision for substantial technology transfer to help make necessary changes. This should be a model of how to tackle the challenge of climate change today. We must find solutions to climate change that support, rather than obstruct the aspirations of India and others for faster economic growth and rising prosperity.

''When it comes to the challenge of globalisation, India has taken the right steps to achieve the economic growth that is essential for tackling poverty. And India's global competitiveness is steadily growing. Today, India produces a million engineering graduates each year, compared with fewer than 100,000 in the US and Europe''.

''But much more needs to be done to create more trade and investment opportunities for both our countries. For example, steps to open up markets in banking, insurance and retailing would be good for India and good for Britain.''

''I attach the highest priority to Britain's relationship with India. For too long, politics in this country has been obsessed with Europe and America. Of course these relationships are, and will continue to be, vital. But serious and responsible leadership in the 21st century means engaging with far greater energy in the parts of the world where Britain's strategic interests will increasingly lie.''

That's why George Osborne, who has joined me in India, spent last week meeting the next generation of leaders in Japan. It is why William Hague and Liam Fox are in China this week. In an ever more connected world, we cannot afford to ignore the forces that are shaping it.

David Cameron is the leader of the Conservative party camerond@parliament.co.uk

-Will Ross

India Readies to Serve the World Food
I read the article titled "India Readies to Serve the World Food" by the Financial Times Information Financial Wire, May 8, 2006. It discusses how many of the states in India are amending laws to embrace contract-farming. This will signigificanly increase the amount of contract farming for American companies such as Cargill Foods, and Pepsi. When outsourcing to India, labor rates are much lower (labor rates in India are at $20 per week compared to $370 in America). With this increase in contract-farming, companies will gain through "cheap sourcing of high quality agricultural produce" and India will "gain in terms of increased rural employment and access for smaller farmers to technology and a ready market for high value produce." In conclusion, "contract farming is poised to make India the food basket of the world."

-http://web.lexis-nexis.com

-Kristen Laster-

India's Cola Revolts Tap Into Old Distrusts
I read this article at Dr. Hendrickson's after-class research session. It was printed in the Christian Science Monitor on Sept. 1 06. The article outlines how there is a deep rooted "suspicion of foreign companies" in India, which dates back to their time under British colonization. Many Indians harbor bitter feelings about this "looting", even though many people today were not alive at that time, it has been built into their culture now. Here are some points I jotted down from the article itself.

•A minister of an Indian state banned Coke and Pepsi, claiming that they contained pesticides oThe federal gov’t has refuted the allegations oThis ban has spread throughout the 28 states of India •This resounds a note of caution for foreign firms seeking to make India a FDI •“The growing appetite for Western goods there remains a suspicion of foreign companies.” o“These companies are believed to be greedy, devoted solely to profit, and uncaring about the health of the consumers,” says a political analyst in New Delhi. •Such attitudes are on the decline, however, and India’s economy is opening continually more. •FDI has doubled to $6 bil. Over the past three years, forecasted to double again by 2009 •There is still, however a “deeply-rooted distrust of big business, especially foreign, in India oThis has a historical basis: oIndians saw British colonization as looting

If anyone else read this article and wants to add to what I said here, feel free. Thanks, Will Ross

"Immigrants from India spread business success to homeland; Nations' financial links on rise, 'merging cultures and creativity'"
I read the article titled above from the USA TODAY June 2006. Some of the main points that I think are important are the ways the government is helping boost the economy and the ways India needs to improve in-order to keep the growing economy the way it is currently. - "Industry in India is getting governmental help from 70 "special economic zones" that give tax breaks to manufacturers The economic zones are similar to some used successfully in China to boost business and trade two decades ago." This shows one way the gov. in India is helping boost the economy. -However, this article also points out that "india's biggest problem: an infrastructure of clogged two-lane highways, crumbling sewers, rundwon railways and old airports and seaports." This problem is being addressed by the government but not fast enough. "Last year, the government spent $24 billion upgrading India's infrustructure-- a long way from the $100 billion needed to sustain economic growth of 8% to 95 in 2010, according to Morgan Stanley." -Finally, a suprising comment that the article made regarded college graduates and how in 2010 McKinsey predicted there would be a shorfall of 500,000 college educated workers to fill jobs in India.

-Kristen Laster-

India attracts largest US business mission
Indo-Asian News Service

Washington, August 22, 2006

Leaders of American business, industry, education and state and local government are expected to join the largest ever US Business Development Mission to India, described as "the world's fastest growing free-market democracy" in November.

India presents lucrative opportunities for US companies in a wide range of sectors, according to the US Commerce Department, and to help US firms make contacts and sales in this booming market, Under Secretary for International Trade Franklin L Lavin will lead a delegation to the India Business.

Summit, November 29-30.

The Summit will provide access to India's high-level business, industry and government representatives and opportunities to gain timely insights into the country's trade and investment climate, says the department in inviting participation from US business and industry leaders.

This precedent-setting initiative, potentially involving the largest ever overseas delegation of its kind led by a US government official, will serve as the capstone of a year of successful activities conducted under the auspices of the US-India Commercial Dialogue, honouring the commitment of President Bush and Prime Minister Manmohan Singh to revitalise bilateral trade discussions, it says.

Following the Summit, the US Commercial Service posts in India will concurrently host spin-off missions for US exporters in Bangalore, Kolkata, Chennai, Hyderabad and New Delhi December 4-5 and in Mumbai, Dec 1 and 4.

The spin-off missions will be open to qualified US business representatives in a range of promising sectors and will include market briefings, networking receptions, and one-on-one business appointments with prospective agents, distributors, partners, and end-users.

Participation in the Summit will be open to 200 US applicants. Participation in the spin-off missions will be offered on a first-come, first-served basis to 20 appropriate companies per city, the Department said.

~Liam

Trial Without Error
The article that Dr. Hendrickson sent, I assume, Team India this morning is extremely interesting and also pertinant to the project. It applies to our 3rd point of presentation one: How the political and cultural factors affect the business climate that American firms face there.

The article has to do with the current legal system in India, and how, due to a lack of judges and ineffective court systems, legal and contract disputes can take a staggering amount of time. This is a very important issue in regard to business operations in India. The article stresses that companies ensure the right "dispute provisions" when entering into any interactions with an Indian company, as well as having a reliable team of lawyers at your call.

I reccomend you all read the article. If you need it, or didn't get it, email me and I'll send it to you

-Will Ross

National Portal of India Website
I can't remember if Dr. Hendrickson gave us all this link or if I just stumbled across it during research...but anyway, I thought this site seemed like it covered almost everything we'll need for our project...at least for the first presentation, anyway.

http://www.india.gov.in/

See you all soon!

~Joanna