India's state firms to tap capital markets without privatisation
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Indian Prime Minister Manmohan Singh said that profitmaking state-run firms would fund new growth by tapping the capital markets without being privatised.
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New Delhi: Industry body CII on Wednesday termed as &quot;bold and pragmatic&quot; the government&#39;s decision to allow private operators to fly on international routes and said the move would harbour healthy competition among the airlines.
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India should escape major fallout from the US subprime credit turmoil thanks to its largely insulated economy but the country&#39;s outsourcing sector has cause for concern, economists said.
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India's economy is set to grow by 9.2% in the current financial year, the Indian government says.
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Goldman Sachs Group , the world's largest investment bank, plans to start doing mutual fund business in India, the Business Standard news paper reported on Sunday, without disclosing the source.
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As India and the United States gradually relax policies on military collaboration between the two countries, American companies hope to compete for contracts worth billions of dollars.
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NEW DELHI SEPTEMBER 26: Public sector investments in agriculture and other industries have not kept pace with private investments over the last decade, a CII discussion paper on âInvestment Scenario in Indiaâ has found.
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(InfoWorld) - When the Nasdaq stock market opens next Monday, Indian outsourcer Infosys TechnologiesÂ will become the first Indian company to be included in its prestigious list of top-100 companies. The Nasdaq-100 index is composed of the 100 largest non-financial stocks on the Nasdaq in terms of market capitalization. The inclusion of Infosys follows Nasdaq Stock Market's annual revision of the index. Among the other tech companies to be affected by the changes that take effect on Dec. 18, Level 3 CommunicationsÂ is also being added to the list, while JDS Uniphase is being dropped. Infosys, Indiaâs second largest outsourcer, became the first Indian company to be listed on the Nasdaq in 1999. It has emerged as the poster child for the Indian outsourcing industry, thanks partly to its strong revenue and profit growth, but also due to some deft brand-building in India and abroad. Other companies in the index include Google, Dell, and Microsoft. Outsourcer Cognizant Technology Solutions, of Teaneck, New Jersey, is also in the top-100. Cognizant uses India as a hub for its offshore services delivery. Infosys called its addition to the index an important milestone for the company. Over the years it has tried to break out of the mold of an Indian services provider, to establish itself as a global company on a par with competitors like Accenture and Electronic Data Systems. It has also started to offer higher-value consulting services in addition to its contract application development and business process outsourcing. Infosysâ inclusion in the Nasdaq index is one of several factors that contribute to building a brand, said Siddharth Pai, a partner at Technology Partners International, a sourcing consulting company. Ultimately, however, its continued good performance will matter the most, he said. Infosys, like other Indian outsourcers, is still far from being a true global services company, and to become one it will need to make substantial investments in new geographies and broaden its services offerings, he added.
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LONDON: In a breakfast meeting with chief executives of top British companies here on Monday, Prime Minister Manmohan Singh said economic reforms in India were firmly on course with new vistas for foreign investors.
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'I want to provide a public service, not line shareholders' pockets'
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Indian stock markets rebound after falls triggered by concerns about plans to curb foreign investment in shares.
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Investor's Business Daily - Stock markets have soared in India for the last few years. HDFC Bank has held on for the ride.
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The market may be stuck in neutral, but your portfolio doesn't have to be.
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It may now be the turn of Indian companies to offshore outside India their IT services requirements.
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Business & money: Banks may be forced to seek huge injections of fresh capital as the credit crunch shows no sign of abataing
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Indian outsourcers already have a large share of outsourced application development and maintenance and are dominant in business process outsourcing. The country is now targeting a larger share of the market for remote infrastructure management services (IMS), and is planning to more than double revenue from these services to $15 billion by 2013.
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The Indian economy, since liberalisation (circa 1991), has changed for everyone to see. And the major catalysts to this change were that the Indian companies were free to grow their businesses.