India needs 7 SBIs to compete globally
Faced with intensifying competition, the domestic banking sector endorses the need for creating six or seven banks of the size of the State Bank of India (SBI) to compete globally and laments lack of sufficient autonomy to offer attractive incentive packages to its employees to ensure commitment and increase productivity.
The industry chamber FICCI suggested of diversification of markets beyond big cities, reduction in transaction cost, increase labour flexibilities and improved human resource management to achieve growth in this sector.
As per the survey Indian banking system: the current state and the road ahead as high as 92 per cent of public sector banks respondents lamented the lack of sufficient autonomy to offer attractive incentive packages to their employees to retain them and raise their productivity.
More : mumbaimirror.com
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India wants to compete better with China
India is keen to grab opportunities from China in the booming offshore engineering services space, Chairman of NASSCOM R Ramalinga Raju said on Friday.
Addressing an engineering services summit, organised by NASSCOM, he said India is putting greater focus on the engineering services segment, which he said, lays foundation for manufacturing.
Pointing out that engineering services facilitate growth of manufacturing, he said India wants to compete better with a country like China, with a strong platform of engineering services.
He said global companies are looking for a mitigating risk in the area of
India may become price setter globally, says Lamon Rutten
India could be a price setter and not a price taker in the next couple of years as global prices have started taking cues from Indian commodities markets, said Lamon Rutten, the joint managing director appointed by Multi Commodity Exchange.
India has the potential to be an official price setter in oilseeds, as the Indian prices have started impacting global oilseed prices, said Rutten. He said India, in future, could have a big impact on crude oil prices as the exchanges here have successful energy contracts, which is missing in the
WTO draft addresses India's concern: Nath
Bullish over the outcome of the Hong Kong World Trade Organisation ministerial, Commerce Minister Kamal Nath on Monday said the agreement addresses the concerns of both agriculture and industrial sectors and would drive India's farm and manufacturing exports in the global markets.
"The agreement fully secures the concerns of our farmers. It ensures that no subsidy-ridden farm products are exported to India... the phase out of export subsidies by developed countries would also give Indian farmers a chance to compete in the world market," Nath said on his arrival in New Delhi from Hong Kong.
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India, run with the big guys now!
The media and the government breathed a sigh of relief that the agony of the Hong Kong WTO ministerial is over, and that the agreed text of Sunday night did not cause any political damage at home. The relief was apparent in the commerce minister’s statement on return that the agreement fully secures the concerns of our farmers. It ensures that no subsidy-ridden farm products are exported to India...the phase-out of export subsidies by developed countries will also give Indian farmers a chance to compete in the world market.
India was able to forge
The world, brought closer together
Thomas Friedman has published another influential book. Titled The World Is Flat, the Pulitzer Prize-winning foreign affairs columnist for The New York Times details the events that have produced a "flat" world and offers a rationale for supporting greater trade liberalization. In his book, Friedman relates intriguing stories - particularly from India and China - that make The World Is Flat a must-read for any student of politics.
Friedman spends much of his 488 pages arguing that the global economic playing field has been leveled ("flattened") and as a result, individuals and companies compete for jobs and
