Promoting India Latin America Collaboration

Chile’s SQM To Open Plant In Brazil, Mulls Entering India

September 3rd, 2010 Posted in Chile, India
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 Dow Jones

Sociedad Quimica y Minera de Chile SA (SQM, SQM-B.SN), one of the globe’s leading fertilizer and specialty chemical producers, will expand into Brazil and is evaluating setting up shop in India, the company’s chief executive was quoted as saying Friday by daily newspaper El Mercurio.

SQM, which is the global leader in iodine and lithium production, expects to initially open up a 40,000 metric ton per year fertilizer plant in Brazil and eventually expand capacity, SQM CEO Patricio Contesse told the paper, without providing a timeline.

As the global population inexorably rises so does the appetite for products SQM provides, such as specialty fertilizers used in agriculture or lithium, a key component of technology like laptop computers, mobile phones and electric car batteries.

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Ultra Rice technology in India, Brazil and Colombia

July 25th, 2010 Posted in Brazil, Food and Beverages, India, Science and Innovation
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A simple bowl of white rice sits on a conference table inside the Seattle headquarters of global-health nonprofit PATH. What looks and tastes like ordinary rice is actually the product of two decades of research and development.

For every 100 grains of rice, the bowl contains one grain of Ultra Rice. It’s actually not rice at all, but pasta fortified with vitamins and minerals and squeezed through a rice-shaped mold. The manufactured grains are made from a mixture of rice flour, nutrients and binding agents derived from seaweed.

Ultra Rice is now being produced and tested around the world as a potential solution to malnutrition. Governments in Brazil and India are serving it in school-lunch programs.

About 2.5 billion people consume rice as their main source of food. Many of them suffer from deficiencies of iron, folic acid, vitamin A and other essential nutrients.

Adding nutrients to rice can reach millions of people without asking them to change basic shopping, cooking or eating habits, says Dipika Matthias, who directs the Ultra Rice project at PATH in Seattle. The challenge: making pasta that smells, tastes and looks like rice, but packs a powerful combination of calcium, zinc, folic acid, thiamin and iron inside, can withstand heat and humidity in storage, and doesn’t wash away or break down when cooked.

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India’s Tata Consultancy Services to double Latin America sales

July 24th, 2010 Posted in India, IT, Latin America
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India’s top software service exporter, Tata Consultancy Services Ltd (TCS), sees Latin American sales more than doubling by 2015 as the company targets one of the world’s fastest growing regions.

TCS, which is owned by India’s biggest industrial conglomerate, provides IT, consultancy and outsourcing services in Mexico, Argentina, Chile, Uruguay, Brazil, Ecuador and Peru.

“We have a very aggressive growth project in Latin America for the next five years, we want to more than double our sales to over USD 1 billion,” Alejandro Valenzuela, manager for Peru, Chile and Ecuador, told Reuters in an interview.

“Latin America is really relevant to TCS because it has one of the fastest rates of economic growth,” Valenzuela said.

The region will grow up to 5% this year, according to the International Monetary Fund (IMF).

via MoneyControl

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Nation rehabilitation: Colombia emerges from shadows, and eyes strong trade partnership with India

July 18th, 2010 Posted in andean, colombia, India
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Colombia – the only risk is wanting to stay

Minister Santos speaking after 2010 CII Indo-LAC Conclave
The Globe and Mail

Indeed, The New York Times listed Colombia in its top 31 places to go in 2010, saying Bogotá has become “a role model of urban reinvention,” and calls Cartagena the next Buenos Aires.

Lonely Planet ranked Colombia in its top 10 list of happiest places in the world. Robert Reid, co-author of the last edition, says, “Would I take my mom there? I would in a heartbeat.

There are plenty of reasons [Colombia] should be an obvious tourist and trade destination. It has never defaulted on its debt. The oldest democracy in the southern hemisphere, it is also a land of great natural beauty.

The country is diverse, strapped by two oceans, the Atlantic and Pacific, laced with three mountain ranges, jungle, coastline, savannah and Caribbean islands. Its cloud forests are as rich in species as the Amazon, according to the Nature Conservancy. It also has the highest number of exotic bird species, frogs, and variety of orchids in the world; the World Wildlife Fund ranks it fifth in terms of biodiversity.

Many of the current changes afoot in Colombia are credited to outgoing President Alvaro Uribe’s security policies. Under his watch, backed by funding from the U.S., thousands of paramilitaries and guerrillas have exchanged guns for civilian clothes. FARC attacks have subsided, with most of the internal conflict shifting out of cities to remote areas. [A]fter thousands of presentations, greeted with polite skepticism, Canadians were finally tempted by “the physical story,” Mr. Dieppa says: “That it’s closer than you think [to North America]. That we have a 94-per-cent literacy rate. That 70 per cent of our electricity is green and that we’re the size of Ontario, but with five distinctive regions.”

The influx of foreign investment – investors from India to Argentina are laying big bets on the country’s prospects and diminished security risks – is one sign efforts are paying off. Canadian visits to Colombia have more than doubled in eight years. Air Canada now makes direct flights from Toronto or Vancouver to Bogotá four times a week. Global hotel chains such as Marriott are expanding in the country, lured by a 30-year tax exemption on services in new hotels. Cruise ships increased 35 per cent from 2008 to 2009.
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Bigger role seen for financial centres like Mumbai in India and Sao Paulo in Brazil

July 8th, 2010 Posted in Banking and Finance, Brazil, India, M&A
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 Reuters

With developed economies struggling and emerging markets thriving, more and more financial deals are being cut well away from the traditional centres.

Rising trade between emerging economies, cross-border mergers, acquisitions by Indian and Chinese companies and moves by developing world businesses to raise capital in each other’s markets will spur growth of financial centres in the fastest growing economies, according to industry experts who addressed the Reuters Emerging Markets Summit in Sao Paulo last week. For the bankers clustering in cities like Sao Paulo and Mumbai, the intra-emerging markets movement of funds represents an alluring chance to make money.

“We see flows between Africa and India, India and China, India and Korea being much bigger,” said Neeraj Swaroop, CEO of Standard Chartered’s India business. “Not just big companies but also small- and medium-sized companies are making outbound investments. For banks like Standard Chartered, these are immense opportunities to pursue.”

Stephen Jennings, CEO of Renaissance Capital, a Moscow-based investment bank, told the Reuters Summit “In our M&A practice, 80 percent of our deals don’t have a Western face. And the same thing will happen with financial flows.

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Agriculture is one of the great places to be – Jim Rogers on Bloomberg UTV in India

July 1st, 2010 Posted in Agriculture, Argentina, Brazil, India, Investing, Latin America, Uruguay, Videos
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YouTube Preview Image

Jim speaking at an event – “Investment strategies in an emerging financial lanscape”. Funny to see the Indian interviewer’s (probably an MBA!) WTF reaction to Jim’s comments on agriculture. In trying to sell the attractiveness of the farming business in South America to potential investors, I’ve found the going rough in India. People cannot imagine farming as a lucractive proposition, like it is in South America. No Indian middle class family would want their kids to get into farming. Heck, even Indian farmers – almost half of whom want to quit farming, don’t want their kids to be farmers! Farming and agribusiness gets a bum rap in India, because it is a disastrous business there – afflicted with a nexus of misdirected subsidies, price support, import and export controls, collapse of extension services, absence of an agricultural land market and pervasive corrupt bureaucratic intervention across the entire range of the rural economy, as Dr. Rajiv Kumar of ICRIER so eloquently states.

One of the CEOs of an Indian agrochemical company shared a story with me last month. One of his employees approached him asking for his help in finding a job for the employee’s 25 year old nephew back in the village. When the CEO asked what the son was doing, the employee replied “Nothing” The CEO said “How can he be doing nothing, he is 25 years old?” The employee replied, “He is dabbling in farming, that is like doing nothing!”

YouTube – Jim Rogers on Bloomberg UTV.

Agriculture in my view, is one of the best places to be in the next 30 Years , I mean all these people getting MBAs are making terrible mistakes as far as I’m concerned , they should be getting farming degrees.

Agriculture has been a disaster for 30 years…Agricultural products are gonna be the best investments over the next several years. I think farming…agriculture is gonna be one of the best industries in the world. Like I said, all people who got MBAs made a mistake, they should have been getting agriculture degree.

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IBSA: Challenges of social progress for Brazil, India, South Africa

June 29th, 2010 Posted in Brazil, India
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IBSA – “A people’s project”
The Japan Times Online

Governments from the South are assuming leading roles in decisions on global issues such as climate change, health governance, trade regimes, and water and food security. Complementing the new economic and geopolitical importance of the developing world is the rapid pace of South-South investment, cooperation and trade.

Meanwhile, bilateral trade between Brazil and India is expected to surpass $6 billion by the end of the year, according to the Brazil-India Chamber of Commerce. However, these three large countries face enormous challenges of meeting the aspirations of their populations, many of whom are hungry and poor.

 But economic growth is not sufficient for the public, which demands social equity because of the history of colonial rule in India, apartheid in South Africa and military rule in Brazil. Therefore, policymakers face the arduous task of tackling long-prevailing social ills that have often propelled the political system and led to the energetic involvement of civil society organizations.

While the India-Brazil-South Africa Dialogue Forum (IBSA) was launched in June 2003 to push for the countries’ attempts to get into the U.N. Security Council, attention has shifted over time toward development and economic reform. The most recent IBSA gatherings have revealed a staunch commitment to issues related to the fields of technology and renewable energy.
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Buy Farmland and Soft Commodities like sugar, cotton:How to Invest Like Jim Rogers

June 28th, 2010 Posted in Agriculture, Brazil, Economics - Indicators, Policy and Trends, India, Latin America
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Jim Rogers again talking about how depressed agriculture commodities are relatively to others which have boomed recently and that is where investors should look. (Sugar is still off 70% of its all-time high reached in 1974, Wheat – he doesn’t mention it, is at 200 yr lows, in inflation-adjusted terms.)

TheStreet.com

Jim Rogers, legendary contrarian investor, author and chairman of Rogers Holdings, is still betting on $2,000 gold in 10 years and in the meantime is looking to profit from China, the euro and other commodities.
 Aside from the precious metals that we talked about, what other commodities do you like?

Rogers: Agriculture still. Agriculture’s still very depressed. Frequently, one will make a lot of money if you buy the things that are depressed [and] where things might be getting better.

So what happens to the world economy as you see it?

Rogers : We’re certainly going to have another recession in the next two or three years. We’ve had recessions every four to six years since the beginning of time. So by 2012, we’re getting ready to have another one, if history’s any guide. I suspect it will happen before then, because there are still so many imbalances in the world which have to be sorted out.

What’s the biggest positive and the biggest negative that you see in the big macro picture right now for the world economy?

Rogers: The gigantic debt imbalances. Throughout history, when you’ve had these kind of imbalances, they usually worked their way out in the currency market. It used to be the gold market when we had the gold standard. We’ve been seeing currency dislocations for two or three years. We’re [going to] see a lot more. Everybody who gets involved with you should learn about currency because we’re [going to] see many, many, many, more currency problems in the next two or three years. And that’s [going to] affect us all, including stock markets and including economies.

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Developing economies should invest in each other

June 28th, 2010 Posted in Brazil, India, Infrastructure, Investing
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Successful LatAm companies and wealthy LatAm individuals would be reluctant to invest in Asia, given they are coming from a culltural framework of high uncertainty avoidance. Investing and doing business in tried and tested regions like the U.S. and Europe is preferred over the new.
Times LIVE

A preferential trade agreement (PTA) between the Southern Africa Customs Union (SACU) and India has been mooted for many years, but has yet to materialise. The India-Brazil-South Africa (IBSA) Trilateral has also been talking about an India-SACU-Mercosur (the Southern Common Market including Brazil) preferential trade agreement.

If the commercial relationship is to be truly leveraged, the agreement must be fast-tracked. With a consumer base of more than 1.6billion people, a PTA will redefine the trade corridor between South Asia, southern Africa and Latin America.

South African companies have not fully leveraged opportunities in infrastructure, energy, power generation and agro-processing in India. A case in point, India plans to invest $1.7-trillion in the next 10 years in infrastructure developments, yet no South African construction companies have been able to penetrate the Indian market.

BASIC countries (Brazil, South Africa, India, China), IBSA countries (India, Brazil, South Africa), and BRIC economies (Brazil, Russia, India and China) have rapidly clubbed together to advance the interests of the South. This, coupled with SA’s strategic positioning in the expanded G20, has resulted in government accelerating our strategic alignment with the South. This is clearly reflected in the new industrial policy action plan. However, business has not always followed suit.

South African companies are comfortable with doing business in traditional economies in the US and Western Europe, but are less comfortable with doing business in emerging economies.

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Latin America: India’s next frontier

June 25th, 2010 Posted in Economics - Indicators, Policy and Trends, India, Investing, Latin America, M&A
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Latin America (orthographic projection)
Image via Wikipedia

I think the India-Latin America trade corridor is one of the last frontiers in business. India does more trade with Africa – 2-way flows about $40 billlion, which has  a fraction of the overall GDP($2,5Tn at PPP) compared to Latin America (almost $6Tn at PPP)  – 2-way flows about $16billion. So, the future potential is quite rosy.

via Latin Business Chronicle:

“We are very upbeat about Latin America and view it as the next frontier of growth,” says Harshul Asnani, head of Latin America and US West operations for BPO company TechMahindra.

The rapid growth in IT and network spending, increased mobile/broadband penetration and large scale consolidation in the telecoms sector in Latin America offers “vast potential” for a specialized telecom-focused systems integrator like Tech Mahindra, he says.

Omar Momin, vice president of strategy and M&A at Godrej Industries, also sees strong Latin America potential. “There are tremendous opportunities in Latin America that fit in with our strategic objectives,” he says. “These emerging markets have characteristics and consumer demographics similar to India with significant middle of the pyramid populations. They also hold tremendous potential in terms of growth in the coming decade and give the Godrej Group an opportunity to serve the needs of Latin American consumers better.”

One of the reasons why India´s trade with Latin America is below potential is the inadequate attention Indian business have paid to this region in the past,” says R. Viswanathan, India’s ambassador to Argentina, Uruguay and Paraguay and his country’s top Latin America expert. “Now this is changing. [Indians] are impressed by the strength and resilience of Latin American markets which have withstood the U.S. crisis and are marching ahead despite the gloom in Europe.”

In terms of sectors, he predicts that Indian investment will grow in IT, agribusiness, mining and petroleum in the coming years.

Meanwhile, lighting products manufacturer Havells Sylvania is also looking at expanding. “We are open to new proposals and are looking at both organic and inorganic growth in Latin America [along the] lines …Havells in India has aggressively grown from year to year,” says Kapil Gulati, the Costa Rica-based general manager and director of the Americas for Havells Sylvania. “We plan to initiate assembly operations in a few countries.”

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