2008 July 16 | IndusLatin

Promoting India Latin America Collaboration

India can grow over 8-8.5%

July 16th, 2008 Posted in Economics - Indicators, Policy and Trends, India

SIFY
[Confederation of Indian Industry President and ICICI Bank Managing Director K V Kamath ] noted with satisfaction India having a strong savings rate of 34.8 per cent, investment rate of 35.9 per cent and incremental capital-output ratio (ICOR) of four per cent, better than China(4.3 per cent) and Brazil (5.1 per cent). The country had a strong domestic consumption of 6.7 per cent of GDP in 2007-08 and strong 20 per cent growth in export and foreign exchange reserves at $312 billion, he observed.

He expected the Reserve Bank of India to take ‘conservative’ measures in its credit policy later this month to check the high inflation without affecting industry gorwth. The Indian banking system was in good stead now, with cleaning up of Non-Performing Assets (NPAs) in the last ten years.

Setting economic aspirations for medium term, he said the country need to double per capita income in ten years by aspiring for a ten per cent GDP growth. Manufacturing share in growth should be increased to 25 per cent by 2020.

Outlining the development agenda for medium term, he said the country should provide better access to health, education and skills for its people, make housing affordable and develop model cities to accommodate future urban migration.

He said the CII was deepening engagement with Brazil for cooperation in agriculture, with Russia in energy and with China to build on complementary strengths in various fields.

By 2022, India could be the World’s largest pool of trained manpower, leaders in industry and commerce, accounting for 10 per cent of world trade and a source of global innovations, he envisaged.

Popularity: 4% [?]

Brazil, economic growth, India

Brazil agribusiness wants looser ties to China, India in WTO talks

July 16th, 2008 Posted in Agriculture, Brazil, India

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AFP
PFAN President Gilman Viana Rodrigues told reporters that that strategy benefited India and China more than Brazil.

It delivered “a certain level of concessions to protectionist countries that are not exporters … and these concessions are going to diminish the ambition of countries like Brazil,” he said.

Brazil’s agricultural sector accounts for 24 percent of gross domestic product, 37 percent of jobs in the country, 36 percent of exports and “all of the trade surplus,” the Forum’s letter said.

Brazil has become one of the world’s leading agricultural exporters. Over the past five years, agricultural exports have nearly doubled, and in 2007 they brought in 58.4 billion dollars.

Popularity: 3% [?]

agribusiness, Brazil

“Kandasamy” Alias “Mallanna” Can Be Found In Around Hyderabad After Mexico

July 16th, 2008 Posted in Arts, Culture and Society, India, Mexico

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Image via Wikipedia

Tourist arrivals to Mexico from South India can expect to see a jump once this movie is released.

INDIAN FILMDOM

SUSI GANESAN’s Kandasamy is starring VIKRAM and SHREYA SARAN in the lead. The entire Crew returned to India after a 25 day long shoot in Mexico and are about to start shooting in Hyderabad . Their trip to Mexico has been very gratifying. In the beginning, the Director considered Kenya, but later chose Mexico owing to the unfavorable conditions prevailing in Kenya. The Indian Ambassador to Mexico, Rinzing Wangali, helped the film unit identify the locations by providing them with a helicopter. The response of the Mexican Authorities was so overwhelming that a new Spanish Movie is in the offing in Collaboration. The yet to be titled venture will feature Mexican and Indian artistes and will be dubbed into Tamil. The Mexican Government is happy to be part of the film

Popularity: 5% [?]

film, Mexico, tamil

Year one of AO – After Oil

July 16th, 2008 Posted in Energy, India, Latin America, Public Policy

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The sooner policy makers in India and Latin America begin a “let’s put a man on the moon” effort to massively upgrade urban transit and inter-city rail for their citizens the better.

The Kansas City Post:
I think history will mark history will mark 2008 as year one of AO – After Oil. We are entering a new era that will impact our lives and our cities in ways just as profound as the automobile era did starting in the 20th century. As your grief counselor, let me just advise you that it’d be best for us all to quickly proceed through the 5 stages of grief, so that we can get on to more productive lives. Which stage are you in?

Denial – “This isn’t really happening, it’s only a temporary blip”
Anger – “It’s the greedy oil companies, Arabs, politicians (insert favorite enemy here)”
Bargaining – “If we just all buy hybrid cars we’ll be fine!”
Depression – “The economy is collapsing, our society is doomed!”

Instead, we all should move on to Acceptance – the era of cheap oil is over

Popularity: 1% [?]

Brazil: Another reason for high oil prices

July 16th, 2008 Posted in Brazil, Energy

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Image via Wikipedia

BloggingStocks
Oil workers at Petrobras, the Brazilian oil company, have gone out on strike. Brazil is a modestly important supplier of crude, but with the recent discovery of large off-shore deposits, its role is likely to grow.

According to Bloomberg, the strike “may cut Brazilian daily oil output by more than half.”

The strike raises two problems, one short term. The psychology of oil prices is so fragile now that even rumors of supply interruptions push crude up. The other, more important problem, is in the future. Brazil’s new and significant oil reserves will make the world more dependent on the country for crude. If the workers can strike now to get higher wages, they can strike later. That puts Brazil’s output at a level of permanent risk.

Popularity: 2% [?]

Brazil, oil

India: los secretos de un boom

July 16th, 2008 Posted in Economics - Indicators, Policy and Trends, India

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Thanks to my friend Martin O’Farrell for the link. From a leading Spanish newspaper out of Buenos Aires. Some highlights:

via lanacion.com

En cambio, hoy prevalece por sobre las diferencias algo parecido al ?orgullo indio?, y eso no es nada casual. ?Vemos los avances todo el tiempo; hemos hecho tantos cambios en tan pocos años…

En los últimos 17 años, la economía india se ubicó, detrás de la china, como la segunda de más rápido crecimiento. Desde 2005, crece a un promedio del 8% anual, mientras los servicios y la industria lo hacen por encima del 10 por ciento. Cien millones de indios salieron de la pobreza en el transcurso de las dos últimas décadas. Así, la clase media se cuadruplicó y el aumento de su poder de compra disparó el consumo interno.

Las multinacionales de origen indio adquieren empresas en todo el mundo. El caso más icónico es el de la automotriz india Tata Motors, que acaba de comprarle a Ford las marcas Jaguar y Land Rover por 2300 millones de dólares. Pero el grupo, con inversiones en comunicaciones, informática, electricidad y consultoría, entre otros sectores, no sólo apunta al mercado de lujo que florece en el país (figura cuarto en la lista de Forbes por su cantidad de millonarios), sino a esa nueva clase media recién salida de la pobreza: a finales de este año, Tata Motors pondrá a la venta el auto más barato del mundo, el Nano, por sólo US$ 2500.

Las empresas de tecnología de la información hicieron del país un polo de servicios contratados desde el exterior. Desde los call centers indios atienden llamadas de clientes de todo el mundo. Y la industria farmacéutica, que creció fabricando genéricos ?producen el 22% de los que se venden en el mundo-, hoy desarrolla y patenta nuevas drogas.

En la historia de la transformación india hay menos de milagro que de convicción, y una clave: haber sabido ?saber? mirar hacia adelante. No buscaron resultados inmediatos; es evidente incluso para ellos que todavía tienen un largo camino por recorrer.

La fórmula aplicada no era novedosa: disminuyeron el déficit fiscal, reformaron el sistema impositivo, privatizaron las empresas públicas, desregularon e incentivaron la inversión extranjera. Pero ellos dicen que sumaron algo más importante: un proyecto de país. Y que haber heredado una cuota del respeto inglés por las instituciones obligó a que el proceso fuera más gradual que en países como la Argentina. En vez de desmantelar las empresas estatales, el gobierno indio mantuvo porcentajes accionarios en áreas sensibles, como la energía, pero las expuso a la competencia.

La India increíble es posible porque su gente cree en ese anuncio y lo defiende, como lo hace con sus tradiciones y su cultura.

Es cierto que la escenografía todavía no está a la altura de esta superproducción, pero sobran trabajadores que se esfuerzan contra reloj por mejorarla. Después de todo, las películas del cine masala siempre tienen final feliz.

Popularity: 3% [?]