The India story unfolds another set of months in mid-year,
defining action on the political, business and judiciary fronts.
One of the most watched at nation, ever since the new government
took the reins in May 2014, has repositioned its brand perception
significantly to be read, amongst other things, as being Globally
The barometer of confidence of the global investor community, in
India as a business destination manifests from its serious
commitment of investment in strengthening the manufacturing
sector-base. This belief was delivered when Foxconn, the
world's largest contract manufacturer committed an investment
of US $5 bn for setting up manufacturing facility over 5 years.
This was a follow-up on another investment of US $20 bn by the
Company along with Softbank, a Japanese telecommunications company
and Bharti Enterprises, part of the Indian telecom Group, Airtel.
With these large commitments, the confidence in the Indian story is
slowly becoming a reality.
The Prime Minister, Mr. Narendra Modi launched the signature
campaign 'Digital India' in the first week of July which
has the potential to touch the lives of all Indians. The campaign
consists of 3 key initiatives; internet access to all Indians,
digitization of every document and establishment of centres of
excellence for internet of things on a PPP model which is designed
to bring the government and industry together. Clearly, the success
of these centres and its potential transportability to other cities
can determine how profound the impact of this movement will be, on
the entire country.
Speaking of the effectiveness of campaigns, the much touted
'Make in India' still remains a work-in-progress document.
The gargantuan challenge ; Easy access to Land : the ambitious land
acquisition bill is now waiting to be tabled in winter session of
the Parliament; Labour : the key reforms are still being awaited
and Affordable Capital : still remains to be delivered to the
industry to give fillip to the campaign which would essentially
boost the much-needed exports that is showing a declining
On a positive note, the e-commerce and the start-up space
remains vibrant with billions dollar valuation and large fund
commitments from private equity and strategic investors. The
inflows from PE during the first half of 2015 exceeded US $7.1 bn
with deal space occupied by IT, ITeS, banking, finance and
pharmaceuticals bagging large share of such investments.
The June-August period is very much the monsoon season in most
of parts of India. The normal vs deficient rainfall still has a
large impact on the fate of the Indian economy, what with large
part of it, still being agrarian. Unsurprisingly, the industrial
sector, the FMCG and the GDP of the Indian economy hinges on a
normal monsoon. As we bring out this update, India waits with bated
breadth that the current deficit in rainfall will eventually be
wiped off and hope that the country does not witness a drought.
Taking a global bite, it would not be unfair to say that there
is much more to India and the Indians residing in India. Once
again, a Global Indian, Sundar Pichai, a technocrat, was named the
chief executive of Google, the world search-engine and joins a
respectable list of global Indians who currently head large world
corporations such as Satya Nadella, CEO of Microsoft Corporation,
Indra Nooyi, CEO of PepsiCo to name a few.
As India stepped into its 69th year of Independence on August
15, every Indian stood renewed with pride, promise & hope for a
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