I woke up around 6am completely refreshed even though I barely had any sleep. After breakfast we headed to a meeting with CII at India Habitat Center, Lodi Road, New Delhi.
I’m going to start off with a brief, straightforward overview of the panel, for those who are interested…but don’t get discouraged if you’re not, this blog will not encompass bullets and facts but I promise will have more personal insight, passion, and of course some controversy, just keep reading!
Perspectives on the “Indian Economy & US Businesses” in India.
Speakers:
1. Mr. Ashwani Gupta, County Director, Honeywell
2. Mr. Naveed Hussain, Director of Research and Technology, Boeing India
3. Mr. Marut SenGupta, Senior Director, Confederation of Indian Industry
4. Ms. Nandita Das, Actress and Social Worker
Mr. SenGupta spoke first, he had a slide show and discussed the current state of the economy in India. Some of his key points…
· India is the 4th largest economy in the world
· GDP 8.73%
· Mining and Electricity are controlled by government restrictions so they contribute a low GDP
· The economy is driven by the Service Sector, with the Industry Sector coming in second, and the remaining to Agriculture
o There are current issues going on with Walmart wanting to set up shop in India but the effect it would have on the economy would be drastic. (I’ll get into this more in my later posts dealing with an economic evaluation and the informal sector).
· India is competing with a major player, China and although India is not able to produce cheap goods in mass amounts, India is still strong due to technology.
· Investments are driving the economy
· Public sector was negative in savings for awhile but now the public sector is turning very profitable
· Domestic Savings Sector- “India has yet to use credit cards like the US”
· Average age of home owner went from 50 to 37 in 2 yrs.
· Currency Rate= 39.7 US
I’m going to start off with a brief, straightforward overview of the panel, for those who are interested…but don’t get discouraged if you’re not, this blog will not encompass bullets and facts but I promise will have more personal insight, passion, and of course some controversy, just keep reading!
Perspectives on the “Indian Economy & US Businesses” in India.
Speakers:
1. Mr. Ashwani Gupta, County Director, Honeywell
2. Mr. Naveed Hussain, Director of Research and Technology, Boeing India
3. Mr. Marut SenGupta, Senior Director, Confederation of Indian Industry
4. Ms. Nandita Das, Actress and Social Worker
Mr. SenGupta spoke first, he had a slide show and discussed the current state of the economy in India. Some of his key points…
· India is the 4th largest economy in the world
· GDP 8.73%
· Mining and Electricity are controlled by government restrictions so they contribute a low GDP
· The economy is driven by the Service Sector, with the Industry Sector coming in second, and the remaining to Agriculture
o There are current issues going on with Walmart wanting to set up shop in India but the effect it would have on the economy would be drastic. (I’ll get into this more in my later posts dealing with an economic evaluation and the informal sector).
· India is competing with a major player, China and although India is not able to produce cheap goods in mass amounts, India is still strong due to technology.
· Investments are driving the economy
· Public sector was negative in savings for awhile but now the public sector is turning very profitable
· Domestic Savings Sector- “India has yet to use credit cards like the US”
· Average age of home owner went from 50 to 37 in 2 yrs.
· Currency Rate= 39.7 US
Mr. Gupta from Honeywell was next, his section mainly focused on Honeywell products and their contribution to the GDP, he also discussed Honeywell’s Energy Performance Contracts but he contributed much more when debating with Nandita Das. Mr. Hussain was next, he discussed Boeing and the growing consumerism – people want to fly these days, they no longer want to take the train. Every plane but King Fisher in India is a Boeing. They are currently competing against Lockheed and European Markets- India has a great army but is poorly equipped.
That was a very brief overview just because I’m dying to tell you about Nandita Das, how odd that out of the entire panel this lady captured and inspired all of us. If you would like more info on the panel please let me know and I can fill you in on the entire discussion. But the main point is that they provided a very optimistic view of India. Which is the POV we had throughout the trip, it was only Nandita that gave us a more realistic view of India.
That was a very brief overview just because I’m dying to tell you about Nandita Das, how odd that out of the entire panel this lady captured and inspired all of us. If you would like more info on the panel please let me know and I can fill you in on the entire discussion. But the main point is that they provided a very optimistic view of India. Which is the POV we had throughout the trip, it was only Nandita that gave us a more realistic view of India.
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