Business Roundup 

India scores over China in Economist study

What Is India News Service, June 14, 2004 4:42pm

Good news came for people worried that India is losing business to China. A study by the Economist group described India as a less risky place for foreign investments than its giant neighbour. The Indian consumer durables industry is all set for big growth in exports.

A corporate study indicates that India has an edge over China in getting foreign capital. India is ranked 10^th among 29 emerging markets by Economic Intelligence Unit, the information service wing of the group that runs the highly regarded magazine The Economist. The low risk rating makes India a favourable investment destination for global corporations.

Indian consumer durable firms are setting foot on markets overseas. Geography, skilled and inexpensive labour, and manufacturing competence are helping them export their products. Saarc countries like Sri Lanka and Bangladesh, besides West Asian and African countries, are emerging as markets for export of Indian finished products.

Corporation Bank is working towards expanding business beyond national frontiers. It has appointed Boston Consulting Group to aid in restructuring and in identifying international markets. It has invested in high-end technology to enhance the quality of its services. The new processes also reduce the cost of operations.

The crash in international edible oil prices could mean that Indian oilseed growers will switch crops. They are now planting for the kharif season, following the south-west monsoon's early onset.
 

Overall:

India less risky than China: A corporate study found India a much safer country for business than its giant neighbour.

Consumer durable firms are growing: Saarc countries like Sri Lanka and Bangladesh are emerging as markets for Indian products.

Corporation Bank goes global: It is restructuring and looking at foreign markets.

Farmers could switch crops:  The fall in edible oil prices could mean farmers will look at other crop options.