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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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.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2007

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

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Thanda karta sabko ek
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