Going Global in Southern California
India
India Developments, and Events in Southern California
Most of India’s ‘middle class’ earns between 1K and 2K
Aug 24th
Despite its shaky empirical foundations, the myth of the Great Indian Middle Class persists. A new Asian Development Bank report lauds the rise of the Indian middle class and projects it as the engine of global growth. However, according to the definition used in the report itself, the vast majority of this middle class earns between Rs 1,000 and Rs 2,000 per person per month. Only 0.0009% of Indians earn more than Rs 10,000 per month.
The ADB’s Key Indicators for Asia and the Pacific 2010 report released this week has a special chapter on the Rise of Asia’s Middle Classes. Projecting that the Asian middle class will dominate the next two decades (including crossing a billion in India alone by 2030), the report says that Asia’s emerging consumers are likely to assume the traditional role of the US and European middle classes as global consumers, and to play a key role in rebalancing the world’s economy.However, the definitions used to arrive at such conclusions scarcely fit with the traditional definition of the middle class, as those who have not inherited wealth, hold regular jobs and enjoy a degree of financial security that allows them to consume and save and support More >
Successful 3rd Annual India Trade Conference in Los Angeles – July 2010
Aug 12th
The 2010 India Trade Conference in Los Angeles had a strong line-up of speakers, compelling discussions, meaningful networking, and good energy. Theme: Green and Social Entrepreneurship. It was an all-day conference with insights on India trends, strategy, culture, risk and execution targeting India opportunities in new markets, sourcing, and investment.
3rd Annual India Trade Conference – Los Angeles, July 29, 2010 Presented by the Port of Los Angeles, Edison, NetIP, US Commercial Service, USC Marshall, and Quanta Consulting, Inc.
Featured speakers included:
v John Fielder, President, Southern California Edison
v Peggy Johnson, Executive Vice President of Americas & India, Qualcomm
v Holly Vineyard, Deputy Asst Secretary, South Asia, US Department of Commerce
v Paul Watson, Street Surfing (US Commercial Service Export Achievement Certificate)
v Steve Arnold, Regional International Sales Manager, Fedex
v Dan Bates, CEO, WindStream Technologies
v Gora Datta, CEO, CAL2CAL Corporation
v Dr. Sangeeta Gupta, Gupta Consulting Group
v Rob Guthrie, Business Initiatives Specialist, EXIM Bank
v Frances Harder, President & Founder, Fashion Business Inc.
v Julie Anne Hennessy, Director, U.S. Commercial Service
v Rajeev Kapur, CEO, Greenwala, Inc.
v Jim MacLellan, Director Trade Services, Port of Los Angeles
v Tim Murphy, First Vice President, Int’l Banking, Comerica Bank
v David L. Noe, Vice President, Americas, APL (American President Line)
v Sharad Pawar, COO, BeWo Technologies
v More >
Commercial Cooperation between the U.S. and India’s emerging regions
Jul 21st
WASHINGTON – As India’s emerging cities and states prepare for significant population increases in the next two decades, Under Secretary of Commerce for International Trade Francisco Sánchez today announced the Growth in Emerging Metropolitan Sectors (GEMS) initiative at the “Accelerating Inclusive Growth: The Future of the U.S.-India Commercial Relationship” seminar in Washington. The initiative will focus on building commercial ties between the United States and India’s emerging regions.
“The growth in emerging metropolitan sectors like Pune and Nagpur will accelerate and form new markets for U.S. and Indian businesses,” Sánchez said at the event jointly hosted by the U.S.-India Business Council and the Department of Commerce. “Developing the economies of these cities and states is critical as we work together as equal partners with mutual interests.”
It is expected that nearly 600 million people will live in India’s urban areas, with 68 Indian cities surpassing one million inhabitants in each of the next two decades. The annual income of households in cities will grow from about $700 billion today and double every five years and reach almost $4 trillion in 20 years.
“If we can work together to harness the potential of these new areas of growth, we can grow the economies of More >
‘More poor’ in India than Africa
Jul 13th
The new measure of poverty assesses household poverty Eight Indian states account for more poor people than in the 26 poorest African countries combined, a new measure of global poverty has found.
The Indian states, including Bihar, Uttar Pradesh and West Bengal, have 421 million “poor” people, the study found. This is more than the 410 million poor in the poorest African countries, it said. The Multidimensional Poverty Index (MPI) measures a range of “deprivations” at household levels. Developed by Oxford Poverty and Human Development Initiative (OPHI) with UN support, it will feature in the upcoming UNDP Human Development Report.
The measure assess a number of “deprivations” in households – from education to health to assets and services. “The MPI is like a high resolution lens which reveals a vivid spectrum of challenges facing the poorest households,” said OPHI director Dr Sabina Alkire.
3rd Annual India Trade Conference – Los Angeles, July 29, 2010
May 20th
Access New India Markets
You are cordially invited to the essential annual Los Angeles event on Doing Business with India. The Third Annual India Trade Conference is being presented by Southern California Edison; the Port of Los Angeles; the U.S. Commercial Service, U.S. Department of Commerce; NetIP, USC Marshall, and Quanta Consulting, Inc. Join in the success. Sponsor, participate, and engage. Latest information on conference speakers and sessions at www.IndiaTradeConference.com
CONFERENCE UPDATES: Confirmed speakers include Mr. John Fielder, President, Southern California Edison New York Life is a Platinum Sponsor of the India Trade Conference www.newyorklife.com JetSuite Air signs on as Silver Sponsor of the India Trade Conference www.jetsuiteair.com
The India Trade Conference is being generously sponsored by
Host Sponsor – Southern California Edison Platinum Sponsor – New York Life Silver Sponsor – JetSuite Air Special Sponsor – Port of Los Angeles Special Sponsor – Chubb Special Sponsor – Arroyo Insurance Special Sponsor – California Department of General Services
WHY ATTEND? Keys to Successfully Doing Business with India Insights on the New India Environment and Trends Real-World Case Studies and Interactive Panels Renewable Energy & Social Entrepreneurship Global Risk Mitigation Strategies Funding your Business Growth Valuable Networking Opportunities
DETAILS: Date: Thursday July 29, 2010 Time: 8:30 AM More >
US Trade Rep: India Barriers to U.S. Trade and Investment
May 15th
Significant barriers to U.S. trade and investment faced in the last year as well as the actions being taken by the Office of the U.S. Trade Representative (USTR) to address those barriers.
INDIA
Tariffs: India maintains a system of cascading tariffs, taxes and other import charges that taken together are often cost-prohibitive. India’s tariff regime is characterized by pronounced disparities between bound rates (i.e., the rates that under WTO rules generally cannot be exceeded) and applied rates (i.e., the actual rates charged), and the average applied rate is among the highest in the world. Furthermore, India’s tariff schedule is not publicly available in one transparent, easily accessible location, which imposes significant burdens on importers.
Legal and Regulatory Issues: India’s legal and regulatory regime lacks transparency across all sectors. U.S. companies report unnecessary burdens, bureaucratic delays, discrimination and corruption as a result of unclear and inconsistent implementation of India’s trade and investment rules. Problems are encountered across all sectors, including government procurement, the tariff structure, import requirements, and investment policies.
The Road Less Traveled in Globalization
May 12th
by R Sampath
In globalization strategy, there are often discussions about opportunity, revenue, risk mitigation, culture and oversight. Trend assessment is important as is getting to the right point in time and space in a new overseas environment. Balancing investment with risk, grounded in realistic expectations are crucial in measuring and achieving success. New market sensibilities, perceptions, competitive analysis, distribution networks and trading alliance nuances are all essential. A solid business case will have been created for strategy & execution that builds on the harmony between company direction and the new global environment.
While these considerations are all absolutely critical, this piece shall touch on a slightly different aspect. The power of coalitions and positioning of your product, service and application can open new avenues. Granted, this may not apply to all industry categories, but a surprising number fall in this space.
We are of course speaking of social and green entrepreneurship. Renewable energy, telecommunications, water treatment, fundamental infrastructure & transportation, biotech, agriculture, healthcare tech, aerospace and many others fall in the space of humanitarian technology.
The Bottom of the Pyramid is indeed a tasteful reference to the world’s poor. The term was coined by President Franklin D Roosevelt and more recently was a More >
ET: Indian Banks to talk ATM Expansion with Telcos
Jan 4th
MUMBAI: ATMs (Automated Teller Machines) may soon go the cellular phone way. Mobile phones, which began as a gadget for the rich, has now become accessible even to the lowest strata of the society.
RBI has recently allowed banks to appoint small retail outlets, including grocery stores, as banking correspondents to extend banking to hitherto unbanked areas.
“ATMs are getting much more compact and they cost a fraction of what they used to several years back,” said an official with an ATM company. At present, no bank stocks currency notes of less than Rs 100 denomination in an ATM as this restricts the cash handling capacity. However, bankers say that it is possible to have ATMs dispensing out smaller amounts.
In a statement issued here on Wednesday, the Indian Banks’ Association (IBA) said that it held a meeting of bankers in Mumbai to discuss, among other things, the modalities for working together with the government on the unique identification (UID) project. IBA is already working on combining the UID project with the financial inclusion projects of banks.
It has proposed that UID numbers could be allotted to individuals with the help of banks. This exercise in turn would help banks increase their accounts base.
IBA More >
