Dutch disease?!?!?

RBI succumbs to dollar deluge...

“The rupee appreciation against the dollar has helped to tame inflation, but it also has complicated monetary policy,” said C Rangarajan, Chairman of the Prime Minister’s Economic Advisory Council. The appreciation of rupee against the US dollar is definitely not a welcome sign as far as the exporters are concerned. The rupee against dollar has appreciated from Rs.46 in July 2006 to Rs. 40.63 (as on June 14, 2007), an increase of more than 11%. The plight of the top IT companies and some of the leading pharmaceutical companies is all the more severe with more than 60% of the invoices in US dollars. It is argued that a 1% change in the value of rupee hits the operating margin of the IT industry by 30 to 50 basis points. The textile sector is no better off . A survey conducted by FICCI reports that as a result of higher interest rates the profit margin of leading export sectors has eroded by approximately 11%. Minister of Commerce & Industry Kamal Nath, while agreeing to the exporters view was forced to set up a committee to assess job losses and loss of export order due to the appreciation of rupee. Along with it he also announced a package of wide ranging measures to counter the negative impact of rupee appreciation. According to the calculations of Abheek Barua, Chief Economist, ABN Amro Bank losses arising out of appreciation is at a whopping $12 billion in the last one year.

The Central Bank on its part has in a way allowed the rupee to appreciate in a bid to curb inflation. Though inflation has cooled off, but so has Indian exports. It’s no surprise that India recorded the highest ever trade deficit in May 2007 (the highest ever monthly deficit in the last 15 years). In a bid to counter inflation, robbing exports make no sense at all. A more logical way to tackle massive capital inflows – the reason as to why rupee is at 9-year high, would have been to sell bonds in open markets. It is time RBI wakes up from its slumber and prevents any further appreciation of rupee.

Well, the symptom RBI is showing is that of Dutch disease & the patient happens to be Indian economy.

B&E research: Gyanendra Kashyap

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Think about a US loved by all & think of it sans Bush

Al Gore is a mortal, most deserving to become President of the US. But does he want to be one?

Al Gore is earnestly talking about the long-term implications of the energy and climate crises, and how the Arctic ice cap is receding much faster than computer models had predicted, and how difficult and delicate a task it will be to try and set things straight in Iraq.

You look at him and you can’t help thinking how bizarre it is that this particular political figure, perhaps the most qualified person in the country to be the President, is sitting in a wing chair in a hotel room in Manhattan rather than in the White House. He’s pushing his book “The Assault on Reason.” I find myself speculating on what might have been if the man who got the most votes in 2000 had actually become President. It’s like imagining an alternate universe!!!

The war in Iraq would never have occurred. Support and respect for the US around the globe would not have plummeted to levels that are both embarrassing and dangerous. The surpluses of the Clinton years would not have been squandered like casino chips in the hands of a compulsive gambler on a monumental losing streak.

Gore takes a blowtorch to the Bush administration in his book. He argues that the free and open democratic processes that have made the US such a special place have been undermined by the administration’s cynicism and excessive secrecy and by its shameless & relentless exploitation of the public’s fear of terror.

The Bush crowd, he said, has jettisoned logic, reason and reflective thought in favour of wishful thinking in the service of an extreme political ideology. It has turned its back on reality, with tragic results. So where does that leave Gore? If the Republic is in such deep trouble and the former VP knows what to do about it, why doesn’t he have an obligation to run for President? I asked him if he didn’t owe that to his fellow citizens. He seemed taken aback. “Well, I respect the logic behind that question,” he said. “I also am under no illusion that there is any position that even approaches that of President in terms of an inherent ability to affect the course of events.”

But while leaving the door to a possible run carefully ajar, he candidly mentioned a couple of personal reasons why he is disinclined to seek the presidency again.

“You know,” he said, “I don’t really think I’m that good at politics, to tell the truth.” He smiled. “Some people find out important things about themselves early in life. Others take a long time.” He burst into a loud laughter as he added, “I think I’m breaking through my denial.”

I noted that he had at least been good enough to attract more votes than George W. Bush. “Well, there was that,” he said, laughing again. “But what politics has become requires a level of tolerance for triviality and artifice and nonsense that I find I have in short supply.”

Gore is passionate about the issues he is focused on – global warming, the decline of rational discourse in American public life, the damage done to the nation over the past several years. And he has contempt for the notion that such important and complex matters can be seriously addressed in sound-bite sentences or 30-second television ads, which is how presidential campaigns are conducted. He pressed this point when he talked about Iraq.

“One of the hallmarks of a strategic catastrophe,” he said, “is that it creates a cul-de-sac from which there are no good avenues of easy departure. Taking charge of the war policy & extricating our troops quickly without making a horrible situation worse is a little like grabbing a steering wheel in the middle of a skid.”

There is no quick and easy formula, he said. A new leader implementing a new policy on Iraq would have to get a feel for the overall situation. The objective, however, should be clear: “To get our troops out of there as soon as possible while simultaneously observing the moral duty that all of us share to remove our troops in a way that doesn’t do further avoidable damage to the people who live there.”

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Can naresh goyal really be – sahara?

IIPM PUBLICATION

After giving it a lot of thought, we gave 'Debilitated Aspirations' as the headline for the story we did on the Jet takeover of Sahara. The story pointed out a few aspects that were being missed out in the gush of laudatory stories, about how great an entrepreneur Naresh Goyal was and how far-sighted he was. As usual, Business & Economy took a long and hard look at the deal and came to some unflattering conclusions.

First, it might have been a bad idea on the part of Goyal to buy out Sahara. As subsequent events proved, Jet did try its best to wriggle out of the deal; it is only the iron clad nature of the contract that forced Naresh Goyal back to the negotiating table.

We also contended that while the Jet takeover of Sahara may not have been wise, it was the signal for a wave of consolidation that was bound to be seen in the industry. So have Air India merging with Indian Airlines; Air Deccan and Kingfisher of Vijay Mallya forming a strategic partnership and talk of Paramount Airways trying to take over the Wadia-controlled Go Air. Way to go!

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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The Real Challenge

IIPM MANAGEMENT INSTITUTE

If Sharma and his team can transcend this dilemma, Nokia’s early success in India can endure as a legend and a lesson for others to emulate. If they get stuck with this positioning riddle, Nokia could be yet another example of how global leaders have failed to find the magic formula in India.

By any yardstick, Nokia is a smashing success in India. According to various market research reports, Nokia commands more than 60% of the handset market in the country. The nearest rivals, Sony Ericsson, LG, Samsung and Motorola barely manage a 10% market share as individual entities.

Yet, Nokia’s invincibility could be deceptive. For one, rivals like BenQ are rapidly emerging as aggressive price warriors. Moving up the value chain, new models from LG and Motorola are already giving Nokia a hard time.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Hero Honda has become the face of India’s personal transportation. The company has not only given people a set of wheels but also great dreams...

IIPM PUBLICATION

With its ‘mass friendly’ approach, the new Splendor NXG launch symbolizes the somewhat obsessive ‘entry level’ approach of Hero Honda. The 100cc segment is where the company’s legions lie and where most of its products are positioned. Like a number of private sector companies, even Hero Honda is market driven and a seemingly high focus on this segment makes it a volume player. But at a time when the market is graduating to higher segments, is it logical for any player to stick to the ‘soon to become’ obsolete sectors? Apparently yes! Anil Dua, VP (Sales and Marketing), Hero Honda valiantly told B&E, “Currently we have a 50% market share and that is a very good share to start with. The positioning of the Splendor NXG will be in the 100cc segment as we think that the 100cc is a very large segment and it can sustain more players easily.” To a certain extent we agree because as per an earlier B&E estimation, the 100cc segment forms the core of the market and the Indian consumer depends heavily on it for his daily commuter solutions. On the other hand, the premium segment contributes a miniscule 16.78% to the volumes. Even if we consider a steady growth trajectory of 36% (as per market reports), the premium segment will not be more than 25,00,000 in the next three years. This figure is not even half of the 100cc segment, which will hover close to 60,00,000 units and that too at a much slower 15% growth rate. In April 2006-07, HH sold 239,594 units (SIAM) in the less than 125cc segment, nearly 258% more than what arch rival Bajaj sold in the same period. With such high level of competency, its certainly not logical to think beyond a segment which contributes up to 93.3% towards Hero Honda’s total sales. However, the question that the company really needs to address is that how long can HH sustain this? Auto analyst Tutu Dhawan told B&E, “Hero Honda is very happy being an executive segment (less than 125cc) player, they don’t see much rational as a premium segment player. Hero Honda says that the premium segment forms just 10% (on average) of their market.”

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Indian Overseas Bank

IIPM MANAGEMENT INSTITUTE

Brief Details of new products launched during the year 2006-07:

1. IOB-NRI Shield: Scheme for Non-resident Indians covering travel related risks during their visit to India. Cover provided for Personal Accident, loss of baggage, loss of passport, delay in receiving checked in baggage. Additionally, fire and allied perils cover is also provided for house property in India in the name of insured. The NRI can also opt for Health Insurance cover under IOB-Health Care plus. Cover provided for amounts ranging from 1.00 lac to Rs.50 lacs. Bank gets commission of 15% on premium collected and Rs. 55 is collected as service charges from customer.

2. IOB-Alankar: Loan scheme for purchase of jewellery to women who are employed or professionals or housewives with a monthly income of Rs.5,000/- (for housewives husbands income will be reckoned). Maximum loan is restricted to 10 times monthly income or Rs.2.00 lac whichever is lower with a margin of 20%. Loan is repayable in 24 EMI. Tie-up arrangement can be entered into with local reputed jewellers for marketing the scheme.

3. IOB-SHG Family Insurance: In tie-up with LIC of India, the scheme provides for life insurance cover to members of Self Help Groups and their spouses for a very low premium of Rs.100/-p.a.. An identical amount of premium is paid by Central Government from the Social Security Fund of India. The spouse is covered for Rs.10,000 for a premium of Rs.40 p.a. The cover to the members of SHG is up to Rs.30,000 for death and Rs.75,000 for death due to accident. Additionally, 2 children of SHG members who are studying 9th to 12th Standard are paid scholarship of Rs.300/- per quarter.

4. IOB Insta Invest: The scheme is launched in tie-up with Mann Financial and securities India Pvt. Ltd for providing online trading platform to our customers for trading in Shares and Commodities. The customers of our bank having S.B. account can open trading account with Mann Financial and whenever trading takes place the S.B. account is credited or debited online as the case may be.

5. IOB-Tax Saver Deposit: In view of the amendments to Section 80 C of Income Tax Act to include bank deposits for exemptions under the section, a scheme to attract deposits was launched. There is a lock-in period of 5 years for the deposit. The deposit can not be closed before maturity and no loan is allowed before completion of 5 years from the date of deposit. The maximum amount of deposit is restricted to Rs.1.00 lac.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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B(l)ank future!

IIPM PUBLICATION

Easy availability of auto loans has been one of the key variables driving car sales in the country. Over 85% of car purchases are estimated to have been made using personal loans. But beginning January this year, the effects of interest rate hikes have started showing. The number of cars bought using the finance route have been declining and in May, the figure has declined to 75%.

So, if the consumers themselves start taking a back seat, which they have, what about banks. There is no denying that tough times lie ahead of Indian banking industry and year 2007 will see a bit of moderation in their growth, a fact that bankers too accept. M. B. N. Rao, CMD, Canara Bank justifies the fear, “After three successive years of high growth in credit, resource management has posed a formidable challenge for the banking industry. Monetary tightening and competitive pressures did have an influence on banks’ ability to raise resources in a cost effective manner.”

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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‘IT’s InsTantly InTeresting!

IIPM MANAGEMENT INSTITUTE

Consistent stellar performances by the Indian information technology giants like Infosys, TCS, Wipro, et al have made India the leading IT consulting nation of the world

At the turn of the last century, we witnessed the downfall of IT companies internationally. While everyone had written them off, Indian IT companies had the vision and belief to bounce back; and what a comeback it has been! Over the last 5 years, the contribution of IT to GDP has grown from 1.4% to a strong 4.8%; posting a CAGR of 28%. Also, in the period 1997-2006, the revenues of IT firms have increased ten-folds from $4.8 billion to $47.8 billion!

But what is the reason behind this stellar growth of the IT sector? The answers are in plenty. A pool of cheap, English speaking IT professionals; IT companies attaining international certifications such as ISO, CMM and Six Sigma; global outsourcing being redirected to India; and cross-border mergers & acquisitions – all these factors have contributed immensely to the IT growth. Interestingly, India’s IT spectacle doesn’t end here. IT & ITeS contributed to the bulk of private equity investments in the year 2006, aggregating $1.47 billion. Simultaneously, exports of computer soft ware and services has increased to $24.27 billion in 2006-07, as against $16.9 billion in 2005-06, while ITeS exports during the same period increased to $9.4 billion, compared to $6.8 billion in the previous year. Even the traditionally weak domestic markets generated revenues worth $6.7 billion.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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The fire & fury of internal wars !

IIPM RANKED AHEAD OF FIVE OF THE IIMS

BJP & RSS point fingers at each other for UP debacle

Taking lessons from its defeat in the 2004 parliamentary elections (BJP had blamed its ideological ally, the Rashtriya Swayamsevak Sangh (RSS) for lack of support), the party chief Rajnath Singh enlisted the RSS support for elections in his home state of UP. The RSS too obliged by summoning its full-time workers called pracharaks from across the country and appointing them in each Assembly segment. The scheme bombed as the RSS workers from other states were out of sync with issues in Uttar Pradesh and had negligible coordination with local BJP workers. The BJP’s tally naturally plummeted to its all time low since 1989.

Failures have no fathers and thus started a blame game. In a newspaper article Rajnath Singh Surya, who was in charge of state BJP’s media cell during elections, blamed the RSS for mis-managing party’s election campaign. “The RSS took control of BJP’s election campaign and that spelled doom for the party”, he wrote. A former Rajya Sabha MP, Surya is known for his proximity to the BJP president Rajnath Singh and his views were construed as those of the party chief. State BJP spokesman Hriday Narain Dixit clarified to B&E, “It’s wrong to say that RSS is responsible for BJP’s defeat. We got full support from our ideological allies”.

BJP has distinction of being the only party which can run down its leaders. If it disowned LK Advani’s views on Jinnah two years ago, it’s the turn of Rajnath Singh this time. Is it a case of setting sun?

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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36TH Full Time Programme In Planning & Entrepreneu...
IIPM going global
On "IIPM - Arindam Chaudhuri - Planman"
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The Business of B-School Rankings & The Big Farce
IIPM ABOUT :- IIPM KNOWLEDGE CENTER
Topic: India – China: A Growth Comparison
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HRIC :- Human Resource Intelligence Cell

Divided they stand

36TH Full Time Programme In Planning & Entrepreneu...

South-South cooperation is in the realm of fantasy

Post World War II, history of the world was marked by the decimation of political imperialism. Several countries in Asia and Africa that gained independence from the European powers were mired in poverty and destitution. Much needed economic aid and support to them, however, was illusory. The Bretton woods agreement that gave birth to the international financial institutions like the World Bank and the IMF, were forthcoming in charting the economic growth trajectory of the European countries devastated by war. But for the third world, they continued as the imperialist arm of the developed countries.

The South-South cooperation (SSC) that envisioned economic cooperation among the developing countries then emerged as a serious challenge to the North-dominated economic relations. The United Nations created a special unit for SSC in late 1970s and the Non- Aligned Movement established a group of South-South coordination in 1989. The SSC demanded increased cooperation between the newly industrialised countries and higher investment flow among them. The concept was important for several reasons. Firstly, it could help develop the under-developed regions of the world, and secondly, such a model of development lacked the cultural, political and military hegemonic overtures that marked the First world conceptualized ‘Globalisation’. This cooperation among the developing countries has been resented precisely because of these reasons and the undercurrent of opposition to the concept has ensured that such initiatives are not allowed to take off.

During the past decade, the number of transnational investment agreements among the developing countries has increased immensely. The number of bilateral investment treaties among the developing countries has grown from 47 in 1990 to 603 in 2004 (that included 107 countries). Similarly, preferential trade agreements have also increased in intensity among the developing countries (122 countries during 1990s). But if the quantum of investments are compared, they stand nowhere in front of the developed countries. Also, the differences between the financial might of the G-15 and the G-8 have been too glaring to ignore. Even the chinks in the arm our of the developing countries have been revealing. For example, Chinese clam our for oil blocks across the globe has most oft en competed against India, even when both of them are developing countries.

SSC has a great potential against oppressive globalisation led by the First World. But for that, developing countries will have to cooperate and not compete against each other.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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IIPM RANKED AHEAD OF FIVE OF THE IIMS
The Business of B-School Rankings & The Big Farce
A beach resort… Come for a month, at least
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Topic: India – China: A Growth Comparison
Who says US is on the brink of a recession?...
Thanda karta sabko ek
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Idol guy, Fuller wants the ‘full’ share

IIPM Infrastructure : Campus

Simon Fuller, the creator of Idol series (one of the most popular shows ever) has recently launched a $1.3 billion bid to take private his employer CKX in concurrence with his boss, the US magnate Robert Sillerman. Fuller wants further control in a company where the division he runs contributes a major share of the overall profits but to his dismay, the rewards amounted to £846,000 pay in 2006 and a mere 1.6% stake. The timing of this move by Fuller is a surprise; because CKX had been expected to focus on finding out more celebrity rights to exploit, but the need of the hour is to find a more suitable structure for Fuller – which is supposedly a priority at the moment.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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If you have it, flaunt it
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Money for nothing...
Topic: India – China: A Growth Comparison
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Thanda karta sabko ek

Death without a cause

IIPM PUBLICATION

The world’s greatest rivers are dying. The very rivers that withstood innumerable centuries and civilisations. As integral as elements most basic to human existence, these rivers are fundamental to balancing the aquatic ecosystems of the planet lest we choose to relinquish our very own lives. Though the globe that appears mostly blue, leaving aside salty oceans, it is these fresh water ecosystems that clean and store water vital to human and wildlife existence alike. With a huge spurt in human population at the turn of the last millennium, there have been excessive pressures on natural fresh water ecosystems leaving more than a billion without access to clean and safe drinking water. Perhaps a prequel to the water wars of the future.

But the ones that suffer most from man’s erratic misadventures are local wildlife species, both above and underwater, that find it difficult to survive either altered river flows or artificial blockages in form of dams and canals. Like the Colorado River in the United States that suffers an absolute change in its flow pattern, thanks to the many dams constructed on it affecting local temperatures and endangering many fish varieties that had evolved in the swift -flowing, silt-laden water.

The Ganga, considered the holiest by Indians, a river on whose loamy banks lives one in every twelve of the human species, figures amongst the top ten dying rivers due to mindless water extraction and pollution. However it is China’s Yangtze River and its tributaries that face a major threat with over 600 kilometres of the river in critical conditions. “The river's annual harvest of aquatic products dropped from 427,000 tonnes in 1950s to about 100,000 tonnes in 1990s,” reports China Daily, China’s leading English newspaper.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

When UK’s gotta take a cue from the bagpipes...

IIPM PUBLICATION

The Parliament at Westminster, to which Scots continue to elect MPs, still controls defence & foreign affairs, macroeconomic policy, taxation, and social security. The Scottish parliament, however, is able to legislate over health services, education, local government, housing, criminal & civil justice and economic development. It can also raise or lower the basic rate of income tax – though by no more than 3% – and levy charges, such as road tolls.

This semi-independence partly reflects the absence of linguistic motives in Scottish nationalism. Gaelic is spoken by only about 80,000 of Scotland’s 5.1 million inhabitants. Nor does religion play a discernible role; while Roman Catholics used to fear independence as being liable to result in Protestant hegemony, today Catholics and Protestants are roughly equal in their support of Scotland’s institutions. Moreover, unlike East European or Balkan nationalism, the Scottish variety has little to do with ethnicity or religion.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Titan Aviator Series

IIPM PUBLICATION

BRAND: Titan Aviator Series
HEADLINE: Runs on pure courage
BASELINE : Inspired by World War 2 Aircraft
AGENCY : O&M

4Ps TAKE : Here comes an exclusive offering from Titan – Aviator series for those crazy about war movies, fighter planes and of course, history! A headline that says ‘Runs on pure courage’ immediately imparts both, an inspirational and aspirational touch to the brand and successfully builds a powerful connect. The single-minded focus is to present the aviator series as a niche launch, linking it to history. And what’s the range of inspiration for this range? It’s the World War II aircrafts! The body copy gives little info about the product, but that’s only for those who can’t read between the lines. The copy talks about hardened bodies and the die-hard souls and just a bit of thinking is enough to understand that the lines are also describing the product. If the sepia background with the clippings of World War II set the tone, the watch (which is truly breathtaking!) stands out. All aspects bundled together and the ad of this ‘fleet of watch’ surely “relives the rush of flying”! No, we are not missing Aamir this time!

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

A doctor brand vs a hospital brand...

IIPM MANAGEMENT INSTITUTE

The termination of Naresh Trehan – the executive director of Escorts Heart Institute and Research Centre (EHIRC) and a prominent cardiologist – has taken everybody aback. The Fortis management (that holds 90% stake and management control in the Escorts Hospital) sacked Naresh Trehan and also did some major reshuffling in the top management of Escorts. Fortis’ argument for sacking Trehan is his Rs.1,000 crore Medicity project (a multi-disciplinary healthcare hub proposed to be developed in Gurgaon), that leads to conflict of interest between the doctor and EHIRC. However, the High Court order of providing unrestricted access to doctor Trehan to the hospital has helped him carrying out his normal schedule at the hospital, though he has been forbidden to take new cases and patients. On the other hand, a wave of rage has struck patients, who claim that they had an appointment with the doctor for their treatment, but the hospital management turned them away.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Euro’eka?!?

IIPM PUBLICATION

Also, if the dollar suffers classic economic ills (like not being ‘Gold Standard’!), the euro is no better, suffering those ills and sometimes much more. But more than this, euro’s biggest structural criticism, of late, has been that the euro model – that is, one size fits all – is not a foolproof one. There are different economies in the union, which leave the Central Bank with little leeway to manoeuvre. As Philippe d’Arvisenet, Group Chief Economist, BNP Paribas Economic Research points, “Monetary policy in the eurozone is unique because of the inflation spreads between countries, which means that monetary policy does not have the same restrictive or accommodating impact from one country to the next.” The appreciation of euro itself has created quite a bit of conflicting stir amongst the EU members. At one end, while there is Germany running surpluses and seemingly little affected by the euro rise, on the other, there are pilloried economies like France and Spain.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Wal Mart stamps its Indian debut!!!

IIPM MANAGEMENT INSTITUTE

Putting an end to the speculations regarding its India entry, Wal Mart has decided to open wholesale stores in India by mid 2008. Also, it will spread out to 75 cities in the next five to seven years. An equal joint venture is expected to be signed by the global retail giant with India’s Bharti group for a cash-and-carry deal (details to be revealed in a few weeks). Bharti Retail, the wholly owned front-end retailing venture of Bharti Group, has plans to splurge $2.5 billion by 2015 for hypermarkets, supermarkets and other stores all over India. This venture would help cut prices of various products considerably – agricultural products by 10-15%, electronic goods by 5-7%, and television sets and refrigerators by up to 25%!

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Marvellous Mercedes

IIPM PUBLICATION

Mercedes, the word spells class and its latest launch – CL-Class – is certainly no exception. Brimming with promises of pampering you with luxuries umpteen, these ravishing large coupes are the product of a mix of 1950 designs with the latest in automotive engineering and technology. Not compromising with safety, it offers outstanding safety devices like the Pre-safe brake. Built to give you a superior driving experience, grab this dreamcar for Rs 1.2 crores.

For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative