Analysis of India’s Advertising Industry

Indian Advertising Industry:
An Introduction
Introduction
The Indian advertising industry has evolved from being a small-scaled business to a full-fledged industry. The advertising industry is projected to be the second fastest growing advertising market in Asia after China.
It is estimated that by 2018, the share of ad spend in India’s Gross Domestic Product (GDP) will be around 0.45 per cent.
The Indian government has given tremendous support to the advertising and marketing industry. Advertising expenditure is likely to increase in the financial sector, driven by Reserve Bank of India (RBI) policies which could result in a more favourable business environment. Also, proposed licences for new banks and better market sentiments render the advertising and marketing industry in India a fertile space.
Market size
India’s Advertising industry is expected to grow at a rate of 16.8 per cent year-on-year to Rs 51,365 crore (US$ 7.61 billion) in 2016, buoyed by positive industry sentiment and a strong GDP growth of 7 per cent and above.
India’s digital advertising market has grown at a fast pace of 33 per cent annually between 2010 and 2015, while spending as a percentage of total advertising increased to 13 per cent or nearly US$ 1 billion in 2015.
Print contributes a significant portion to the total advertising revenue, accounting for almost 41.2 per cent, whereas TV contributes 38.2 per cent, and digital contributes 11 per cent of the total revenue. Outdoor, Radio and Cinema make up the balance 10%.
Of the current Rs 2,750 crore (US$ 407.66 million) digital advertisement market, search and display contribute the most – search advertisements constitute 38 per cent of total advertisement spends followed by display advertisement at 29 per cent, as per the study.
The Internet’s share in total advertising revenue is anticipated to grow twofold from eight per cent in 2013 to 16 per cent in 2018. Online advertising, which was estimated at Rs 2,900 crore (US$ 429.9 million) in 2013, could jump threefold to Rs 10,000 crore (US$ 1.48 billion) in five years, increasing at a compound annual rate of 28 per cent
Advertising agencies in the country too have taken a leap. They have come a long way from being small and medium sized industries to becoming well known brands in the business. Mudra,OgilvyandMathew(O&M),McCannEricsonn,Rediffussion,LeoBurnettare some of the top agencies of the country.
Indian economy is on a boom and the market is on a continuous trail of expansion. With the market gaining grounds Indian advertising has every reason to celebrate. Businesses are looking up to advertising as a tool to cash in on lucrative business opportunities. Growth in business has lead to a consecutive boom in the advertising industry as well.
The Indian advertising today handles both national and international projects. This is primarily because of the reason that the industry offers a host of functions to its clients that include everything from start to finish that include client servicing, media planning, media buying, creative conceptualization, pre and post campaign analysis, market research, marketing, branding, and public relation services.
Keeping in mind the current pace at which the Indian advertising industry is moving the industry is expected to witness a major boom in the times ahead. If the experts are to be believed then the industry in the coming times will form a major contribution to the GDP. With al this there is definitely no looking back for the Indian advertising industry that is all set to win accolades from the world over.
Advertisement Spending Sector Wise

Advertisement Spending Sector Wise

Introduction
The issue of TV advertising and children has always been quite controversial. In past hundreds of studies have been conducted on this topic. Some of these studies are based on the observation of children in experimental situations. By their use of a non-verbal research method, these studies have the advantage of avoiding misrepresentation caused by some children’s verbal skills whenresponding to verbal tests. The disadvantage of this type of experimental research,however, is that the real-life validity of the results is sometimes quite low.
Similarly, research data based on the actual questioning of children should be treated with caution, since younger children especially misunderstand the questions, lack the verbal techniques to provide an adequate answer, or are simply intimidated by the presence of the researcher.
In this study, I chose a third method: to obtain evidence related to TV advertising and children by questioning children’s parents. Parental attitudes towards the issue of TV advertising and children are of utmost importance to this issue, given the role played by the parents in a great many aspects of their children’s lives.
LITERATURE SURVEY
The marketers and advertisers have shown keen interest on the market segment of children’s product and services; conducted surveys on children television advertising containing trade publications. Involvement of Academicians on the research studies of children research during the period of 1980 was reduced to the amount of publication on the products of children.1 A little publication was done to the children’s television. Investigation had showed that animation which was used to the adult target audience, now using for the children programming especially in the commercials for games, toys, candies, cereals, etc.
A study on the content analysis of television advertising of today children has focused on the change or growth in presentation of advertisements over the period.
The findings concluded in the study were as:

The male voice-over is still predominant in advertising 32
The advertisement which has focused on personal gain to fun and happiness of children, now focused on children’s product performance.

In the study conducted on evaluation of research pertaining to children and advertising by Jeffry Gold Slain in four countries namely Sweden, Belgium, Netherlands and Britain; found little evidence to supporting the position that the children are vulnerable to advertising. He opined that the influence of mass media is more on children than on parents and playmates. The argument is that the commercial advertisement creates wants in children and bring pester power on their parents for the products advertisement. In fact, the parents succumb to their children’s demands assuming to be true despite paucity of support evidence. Jeffry Gold Slain believes that the influence of children has come by the advertisers from so many directions which have no critical examination.
The Task-force of the American Psychological Association had conducted a study on children and observed that children under the age of 8 years are unable to comprehend critically the televised advertising messages and are prone to accept the advertised messages as truthful, accurate and unbiased. This can lead to unhealthy eating food-habits as evidenced by today’s youth obesity epidemic. The Association sums up that advertising targeting children under the age of eight is to be restricted.4 When the cable culture was in rise in India, a study on the impact of television advertising on children in Delhi in 1992 by NamithaUnnikrisnan and ShailajaBajpai has found that:

More than 70 per cent of children in the age group of 8 to 15 years want to own products advertised on television 33
Children favourite advertisements included airline advertisement Perception of children about television advertising is one of the most important influencers in children’s lives and watching television more than ever before.
Advertisement is only likely to increase with time as television services extend their reach and offer greater viewing option
Advertisement targeted children acts powerfully and promotes consumer culture and the values associated with it
Advertisement, hence, is an investment for the future and the manufacturers expect high pay-off many times over   

India’s Handicraft Industry: Overview and Analysis

The industry chosen is the handicraft industry and the reasons for selecting the same are as follow:
India’s art and craftsmanship is considered to be the best in the world. Abundant skilled labour in the industry – (approximately 41 lakhs).  Raw materials for most arts and crafts are available locally. Possess a variety of crafts ranging from art metal ware to bamboo and jute products. Wave of oriental fashion Huge potential with large retail chains Tourism being seen as a vehicle of growth

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Owing to lack of or inadequate data and information on world production and import of handicrafts, it is difficult to make an exact assessment of the size of the global market for handicrafts. Handicrafts accounting for the world imports consist of both genuine handmade handicrafts and similar machine made substitutes. The handicrafts sector is dominated by the imports of works of art, carpets and wood wares followed by basket wares, embroidery and the base metal decorative articles. The Handicrafts sector is one of the star performers among the thrust products identified by the Government of India for export promotion and growth. As a result, exemption is given on sales tax and incentives are given on power connection etc. The business is to be located in Rajasthan.
Business Opportunities in Rajasthan
Rajasthan is the most preferred State for investments in certain sectors. Easy availability of raw resources and skilled labour, makes it the natural choice for handicraft based industries. Tourism is a thriving and vibrant industry in Rajasthan. The State attracts one third of the tourists coming into India. The flourishing tourism industry helps the development of handicraft industry simultaneously because of the variety and quality of products and the demand in the international and domestic market.
This location has been selected due to the following reasons: Availability of raw materials and skilled labor in Rajasthan Land is cheap Water not required for manufacturing process. Abu road is an industrial area and is located close to Mount Abu which is a famous tourist destination Heavy influx of tourists every year at Mount Abu Has a lake called Nakki Lake which can fulfill the minimal water requirements
Elements of the marketing strategy
The target market: – The company plans to reach the middle class and the upper middle class of the society. Market segmentation: – After identifying the target market the company will be manufacturing and developing products that appeal to that section of market. Mass production: – The company will have a single marketing plan to mass-produce the products at the plant located in Rajasthan. The four P’s of marketing mix includes product, price, promotion and place. The following shows how the company is planning to use the marketing mix to promote and sell the products.
a. Product mix
Variety: – There will be a lot of variety in the products in terms of design, colour etc. There will be items like bracelets, anklets, necklaces, rings etc. from which anything can be selected by the customer according to his or her choice or need.
Quality: – The quality of the products will be superior and of international standards as the company will also be exporting them.
Design: – There will be a variety of designs in each category of jewellery.
Sizes: – The products will be available in different sizes and shapes as per the specification of the clients and also according to the demand.
Features: – Guaranteed and unbreakable beads and stones of different colours, different sizes and shapes for all occasions and for all age groups will be one of the company’s USPs.
Brand name: – The brand name of our company is Fine Jewels collection
Packaging: – The jewellery will be given in small velvet pouches with the brand name on it. This will be given in case of rings, bracelets etc. In case of necklaces and in case of big items, velvet boxes will be given.
Services: – Services like after sales services will be provided to the clients and if there is any defect or fault in the product it would be repaired or replaced free of cost.
b. Price mix
List price: – The prices of are products will be given on the list .i.e. is when they are sold directly to the retail outlet they are priced according to the list price. Discounts: – Special cash discounts will be given to our clients and also discounts for bulk purchases to retailers. Payments: – Cheque, credit cards as well as cash payment will be the accepted modes of payment. Credit cards will be useful in case of international transactions. Credit terms: – Credit facility of 15 days will be given on purchases only to our retailers.
c. Promotion mix
Advertising: – Product advertisements will be given in local newspapers, distribution of pamphlets and through word-of-mouth awareness. Advertisements will also be given on radio but after one or two years.
Sales focus: – Sales focus will be on all age groups and towards the middle class and the upper middle class of the society.
Direct market: – Some of the products will directly be sold to the market. Our main outlets will be in Mumbai and Rajasthan.
d. Place mix
Channels: – The different channels which will be used by the company are – retail outlets and through different distributors and also by export. The products will also be displayed in exhibitions.
Coverage: – The coverage area would be mainly exporting outside India to different countries, as well as Mumbai and Rajasthan.
Location: – The location will be two outlets in Mumbai, one outlet in Rajasthan. And others will be exported to different countries. Handicrafts are exported to more than 100 countries. There is a great gap between demand and supply in countries like USA, Singapore and Malaysia. Hence, there is always a need for new entrants to fill this gap.
The reasons for the outlet at Mumbai are as follows: Mumbai is the fashion capital of India. The target market for our product is the upper middle class and middle class. Products are designed keeping the target customer in mind. Mumbai has the highest number of shoppers in India
Competitor Analysis
Competition is generally from developing nations like Indonesia and China. The major competition is from Far Eastern countries. In such countries, competitors generally resort to mass producing goods in order to cut costs. Countries like China also resort to “dumping” of cheap goods into economies. This leads to serious losses for Indian small scale industries are such cheap mass-market goods eat into the still dormant domestic market of handicrafts in India. There are also issues like use of child labour in India and strict labour laws abroad which might restrict exports to some countries. However, Fine Jewels will ensure theses things are considered before going into production.
Organisation Structure
The business as mentioned earlier will have six partners. The structure will be a flat one. They will be equal partners who will bring in the capital necessary for the starting of business. The financial projections are already given above regarding the use of the initial capital. The partners will look and run the business in equal measure.
Financial Projections
Amount of Capital Required The initial investment of the firm is proposed to be Rs. 22 lacs. The company being involved in the handicraft products has no investment to make in plant and machinery. 
Generation of Capital
The required capital is being partly brought in by six partners and partly being arranged from the bank. The partner’s contribution is Rs 2,00,000 each that is in all RS. 12,00,000 are brought by the partners. The remaining 10,00,000 is taken from the bank as Working Capital loan.
Utilization of Capital
The capital will be utilized in the following ways: Investment in Land & Building admeasuring 1200 Sq ft (30×40) is Rs 11,00,000/- Investment in Furniture & Fixture Rs 2,00,000/- Tools & Equipments Rs 5,000/- Working Capital Rs 8,95,000/-
Finance Charges
Interest will be paid at the rate of 10% p.a., to the bank, i.e. 1,00,000 p.a., as finance charges. No interest is given to the partners for their capital investment in the Company.
Since we produce 1660 units per month we can achieve Break Even Point in 8.33 month (1660 x 8.33 = 13831 units). This is because by that time we will have reached the necessary target of production for the break even
 

Strategies for India’s Solar Power Targets

Literature Review

India has an ambitious plan of 100 GW[1] of solar power by 2022. In May 2017, the solar tariffs in an auction conducted by Solar Corporation of India (SECI) touched ~US 3.40 ¢ per kWh at the Bhadla Power Plant, in the state of Rajasthan, India. However, the tariffs have been rising in subsequent auctions across India, the highest range reached being US 4 to 4.90 ¢ per kWh. In a recent internal memo, the Ministry of New and Renewable Energy (MNRE) is set to cap India’s solar power tariffs at ~US 3.40 ¢ per kWh. The suggestion could be a concern for solar project developers and investors with the newly imposed safeguard duty, the reduction in the project implementation timeline by the authorities, the falling ratings of distribution companies in India, and global factors such as China’s changing policy towards solar panel subsidy.

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During the Financial Year 2017–18 (FY 18), renewable energy (RE) sources (including, wind, solar, bio-energy) contributed 8% and fossil fuel contributed 75% of 1309 TWh of total electricity generated by utilities in India (CEA, 2018a). Electricity consumption in India is likely to increase by 241% between 2016 and 2040. During the same time period, the share of the fossil fuel powered plant in the total supply is to decline to 64% from 77%. The decline will be balanced out by RE which is projected to increase from 5% to 23% (BP, 2018a). In order to support the RE based electricity generation and to facilitate the 100 GW of solar power target, India’s Ministry of Power (MOP) has issued Standard Bidding Guidelines for competitive bidding for solar power on August 3, 2017 (MOP, 2017b). In spite of streamlined policy at the federal and state level and technology optimization, the MNRE has missed the solar targets in both FY 17 and FY 18 (Lok Sabha, 2018a, 2018b). The reason being the cancellation of auctions by various state[2] and federal[3] regulatory authorities in order to renegotiate their contracts for a lower price with the developers. This is the reason why developers and investors are not investing in solar projects in India. Thus, a drastic fall in the tariff prices could be a hindrance in achieving the 100 GW solar power target.

The use of auction policy instrument for solar project is a recent phenomenon when compared to established policy instruments such as tax credits, renewable purchase obligations, and feed-in-tariffs. Pablodel & Pedro (2014) conducted in-depth reviews of auction experiences of 15 countries including emerging economies such as China, India, and Brazil. They concluded that because of the benefits of tariff reductions, an increasing number of countries are adopting auction to make the solar market more efficient. In a best practice study, Pablodel (2017), suggested improvements such as volume disclosure, price ceilings, transparency, streamlined process and penalties for the delays to improve the outcomes of the auctioning system. Thapar, Sharma, Verma (2017) identified the key determinants that impact the developers’ decision. They regressed eleven variables across thirty-two solar tenders issued in India between 2014 and 2017. The determinants such as solar potential, solar targets, utilities’ credentials, cost of funds and the level of subscription came out as strong determinants while making the bid for the project.

Ren 21 (2016) report revealed low (less than ~US 10 ¢ per kWh) auction utility-scaled PV prices in Zambia, Brazil, South Africa etc. As per IRENA (2017), the auction system is driving down the cost rapidly, by as much as 69% in the solar PV sector. However, there is a rising concern among the practitioner and academicians over the viability of low PV prices and deployment effectiveness of low PV prices awarded projects (GTM, 2016; MIT Technology Review, 2015; The Economist, 2016). Dobrotkova, Surana, Audinet (2018) compared competitive auctions for utility scale solar PV in developing countries. Though the study validated the viability of low PV bids and tariff rates, a caution is suggested over the practicality of low-price PV projects. Shrimali, Konda, Farooquee (June 2016) analyzed 20 renewable energy auctions in India to determine whether the auctions have been cost-effective and deployment-effective. They found out that auctions are almost always cost-effective but may not always be deployment-effective, with only 17% of the auctions with greater than 75% deployment. The deployment effectiveness is affected by auction design risk, the risk associated with the commissioning of projects, the risk of developers were not able to raise funds due to low bids and the financial risk of off-takers. Rohankar, Jain, Nangia, Dwivedi (December 2015) evaluated the long-term sustainability of solar projects in India, under various central and state government policies. The authors concluded that the ‘reverse bidding’ may achieve the grid parity but at the cost of long-term sustainability with developers giving up the secured project due to lack of financial viability at such low tariff rates. Shrimali and Rohra (2012) reviewed National Solar Mission (NSM) in the perspective of the power sector reforms. The authors suggest that the NSM failed to provide the necessary institutions required for the implementation of solar projects and achieving the desired outcome.

The most commonly used metric by policymakers, project developers and investors to determine the financial competitiveness of solar PV project is the levelized cost of electricity (LCOE). To determine the economic feasibility of PV projects, Branker and Pathak (2011) have studied methodology for evaluation of LCOE. The authors observed that there is lack of clarity of reporting assumptions, and justifications in LCOE calculations, which produces widely varying and contradictory results. Besides, Bazilian et al. (2013); Branker et al. (2011) showed that with several limitations and overly sensitive to the changes in assumptions, LCOE needs to be considered cautiously. Dobrotkova, Surana, Audinet (2018) suggest that the LCOE cannot explain the winning bid. The winning bid reflects information that is beyond the main parameter of LCOE. The parameters such as country-specific, auction-specific and project-specific parameters need to be combined with the LCOE calculations to understand the winning bids.

Schmid (2012) in his empirical analysis concluded that there is a positive impact of policies such as Electricity Act 2003, Tariff Policy 2006 etc. on the growth of renewable electricity in India. Bhide and Monrou (2011) touched upon the energy poverty in India and suggests that the RE could provide a solution to the problem. However, the paper concluded that in order to solve the energy poverty issue in India, the government should aggressively promote RE technologies. Bhattacharyya (2010) identified the proper management of energy projects is a major challenge for the energy sector in India to be cost effective and time effective. Dudhani et al. (2006) have analyzed the ability of RE to meet the peak power deficit in India. They concluded that with correct government policies RE can meet the peak power deficit. The literature suggests with proper policies and implementation, the RE could meet the rising energy demand in India.

The government authorities are hesitant to sign the contracts with tariffs higher than ~US 3.40 ¢ per kWh. With more and more reverse auctioning the possibility of a race to the bottom with the competitive bidding cannot be ignored. Besides the winning bidders are also admitting that with the new safeguard duty on imported panels and the new services tax (GST) that has increased prices on key solar construction materials, they would quote the price differently than the price that had led to winning the auction. In an interview to the Financial Times, ACME Solar [4] founder and chairman Manoj Kumar Upadhyay said, “When we made our bid, we factored in a price for every solar panel of 30 ¢ per watt of power, but since then it has risen to around 35 cents per watt of power. We have seen the introduction of the new goods and services tax. While the tax on a solar panel is only 5%, that of other materials we use, such as steel or copper inverters, has gone up to 18%.” He concluded, if he was bidding again, “the price would be close to (~US 4.0 ¢ per kWh) ”. With this evidence, the paper is trying to analyze the sustainability of fixed solar tariff (~US 3.40 ¢ per kWh) and its impact on the 100 GW solar power target in 2022.

References:

Sapan Thapar, Seema Sharma, Ashu Verma (May 2018). Analyzing solar auctions in India: Identifying key determinant. Energy for Sustainable Development, 45.

Pablodel Río (December 2017). Designing auctions for renewable electricity support. Best practices from around the world. Energy for Sustainable Development, 41.

Pablodel Río, & Pedro Linares (July 2014). Back to the future? Rethinking auctions for renewable electricity support. Renewable and Sustainable Energy Reviews, 35.

Zuzana Dobrotkova, Kavita Surana, Pierre Audinet(July 2018). The price of solar energy: Comparing competitive auctions for utility-scale solar PV in developing countries. Energy Policy, 118.

IRENA, 2017. Renewable Energy Auctions: Analysing 2016. IRENA, Abu Dhabi.

Ren21, 2016. 2016 Renewables global status report.

Gireesh Shrimali, Charith Konda, Arsalan Ali Farooquee (June 2016). Designing renewable energy auctions for India: Managing risks to maximize deployment and cost-effectiveness. Energy, 97.

Nishant Rohankar, A.K. Jain, Om P. Nangia, Prasoom Dwivedi (December 2015). A study of existing solar power policy framework in India for viability of the solar projects perspective. Renewable and Sustainable Energy Reviews, 56.

K. Branker, MJM Pathak, JM Pearce (December 2011). A review of solar photovoltaic levelized cost of electricity. Renewable and Sustainable Energy Reviews, 15.

Shrimali Gireesh, Rohra Sunali (August 2012). India’s solar mission: A review. Renewable and Sustainable Energy Reviews, 15.

Morgan Bazilian, Ijeoma Onyeji, Michael Liebreich, Ian MacGill, Jennifer Chase, Jigar Shah, Dolf Gielen, Doug Arent, Doug Landfear, Shi Zhengrong (January 2013). Re-considering the economics of photovoltaic power. Renewable Energy. 53.

Schmid G (December 2012) The development of renewable energy power in India: which policieshave been effective? Energy Policy 2012, 45.

Sukhatme SP. Meeting India’s future needs of electricity through renewable energy sources. Curr Sci (Bangalore) 2011,101(5)

Bhide A, Monroy CR. Energy poverty: a special focus on energy poverty in India and renewable energy technologies. Renew Sustain Energy Rev2011,15(2).

Bhattacharyya Subhes (2010), Shaping a sustainable energy future for India: Management challenges. Energy Policy, 38.

BP, 2018a. BP Energy Outlook-India. https://www.bp.com/content/dam/bp/en/corporate/pdf/energy-economics/energy-outlook/bp-energy-outlook- 2018-country-insight-india.pdf

Kiran Stacey. India’s record low solar power deals prompt sustainability fears. The Financial Times (November 1, 2017). https://www.ft.com/content/bcad37aa-be34-11e7-b8a3-38a6e068f464

CEA, 2018a. Executive Summary for March. retrieved from http://www.cea.nic.in/ reports/monthly/executivesummary/2018/exe_summary-03.pdf

Lok Sabha, 2018a. 37th Report of the standing committee on energy-stressed/non-per- forming assets in the power sector, retrieved from http://164.100.47.193/lsscommittee/Energy/16_Energy_37.pdf

Lok Sabha, 2018b. 39th Report of the standing committee on energy–demand for grants of the Ministry of New and Renewable Energy for the year 2018–19. retrieved from http://164.100.47.193/lsscommittee/Energy/16_Energy_39.pdf

[1] The target is 175 GW of the renewable energy-based power by March 2022 of which solar will contribute 100 GW. 

[2] The Uttar Pradesh New and Renewable Energy Development Agency and the Gujarat Urja Vikas Nigam Limited has canceled their 1 GW and 500 MW grid-connected solar project respectively citing high tariffs.

[3] The Solar Energy Corporation of India and the Ministry of New and Renewable Energy cancelled 3GW Interstate Transmission System project auctions.

[4] The winner of auction for the Badal Project, Rajasthan, May 2017
 

India’s Manufacturing Sector Policy Framework

CHAPTER 1:
INTRODUCTION
On August 15, 2014, Prime Minister NarendraModi, in his maiden Independence Day speech, reached out to companies around the world to ‘Come, Make in India’. He further said ‘Sell in any country of the world but manufacture here. We have got skill, talent, discipline, and determination to do something’.
The key features under ‘Make in India’ –

Cut red Tapism
Spurforeign INVESTMENT
Better skill up gradation
Zero-defect products with Zero- (negative) effect on environment
Innovation
Enhance skill development
Protect intellectual property
Built best in class infrastructure
According to MrNarendraModi, we Indians should take FDI as ‘ First Develop India’ and the global investors should consider it as ‘Foreign Direct Investment’
Making India a manufacturing hub

The Government has identified 25 key sectors in which the country has the potential of becoming world leader some of them these include: .chemicals, automobiles, pharmaceuticals, textiles, ports, leather hospitality mining, bio-technology etc etc, .
The new government has taken up certain initiatives to brace the manufacturing sector in particular, some of which are-

Applying for Industrial License and Industrial Entrepreneur Memorandum has been made online – ‘e-Biz website’
De-Licensing has been done on number of Defence items
Industrial license validity has been extended to three years
The Government has now decided to amend a number of labour laws in order to provide flexibility in working hours and increase intake of apprentices for job training

To simplify the regulatory environment an Advisory has been sent to all departmentswhich includes-

filing of all returns in a unified form online

No inspection will take place without the approval of the Head of the Department

 
CHAPTER 2:
POLICIES TAKEN UP BY THE GOVERNMENT
‘Make in India’ has focused on the development of 25 sectors out of which some are as follows:-

100% FDI is allowed through automatic route subject to all the applicable laws and regulations.
Imports are exempted from licensing and approvals.
Offering rebate on R&D expenditure in order to encourage R&D.

To make business easier new measures are helping reduce complexity, accelerate speed and transperancy

Validity of Industrial license has been extended up to three years
Maintenance of the registers by the business has to be replaced with a single electronic register

Major emphasis has been given to skill development through Indian Leather Development Program

Training has been imparted to 51,216 youth in the last 100 days
Further planning has been done to train 1,44,000 youth per annum
For augmentation of training infrastructure, funds have been released for establishment of 4 new branches of Footwear Design and Development Institute in Hyderabad, Patna, Punjab and Gujarat.

Live Project taken up by the Government:
DELHI-MUMBAI INDUSTRIAL CORRIDOR (DMIC)
The objective of this project is to increase the share in the GDP of the manufacturing sector of our country and to create smart. The plan is to develop cities and residential townships along the Dedicated Railway Freight Corridor (DFC). The aim of the program is to create a world-class infrastructure, good convenient public transport, power management and an efficient water management system..

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Around Twenty four manufacturing cities are engaged in the project. In the first phase of the plan, seven cities have been developed each in the states of Uttar Pradesh, Madhya Pradesh and Gujarat, Haryana, Rajasthan, and two in Maharashtra. These cities will provide vast opportunities for the investors internationally and domestically. The initial phase will be completed by 2019.New DMIC Cities will help meet pressure of urbanization and will take India towards economic growth in the next 20 -30 years.
The project aims at double employment potential, triple industrial output and exports in the next seven to nine years.
KEY SUSTAINABLE DEVELOPMENT CONCEPTS UNDER THE PROJECT-

Recycling and reuse of solid waste and water.
Use of renewable leading to energy sufficiency
Conservation of sensitive natural environment .
Transformation of existing villages into smart cities

CHAPTER 3:
SCHEME ANALYSIS AND RECOMMENDATION
HURDLES ARISING IN THE WAY OF THE SCHEME
The term ‘extremely progressive’ for the Make In India campaign would not only help in making india a manufacturing hub but also make economic growth more inclusive. But for the campaign to succeed, hurdles like environmental clearances, infrastructure bottlenecks and unfriendly tax regimes are important to be removed in order to create a clear leveled field for the manufacturing in the country. other than these certain other points like:

Energy shortages
Skilled resources
Trained workers
Skilled professionals
Land problems
Ambiguous tax laws
Excessively complicated labor laws

Have kept a large scale of private investors away from investing. The lack of cooperation between the state and the federal governments is another reason as to why investors have lost faith.
A lot of suppliers as well as auto manufacturers face problems in completing paperwork’s and in the obtaining of business permits required for acquisition of business property. Complicated processes like acquiring of a plant or construction permits has caused various hindrances and therefore making it more inconvenient for the businessmen
The very complicated irregular network of the domestic tax system that varies from state to state has taken away the ease of operating business in India and are therefore impending investments in India.
CORRECTIVE MEASURES TO MAKE THE SCHEME SUCCESSFUL
For a long time india was more dependent on the service sector which made it neglect the manufacturing sector to a great extent. The Make In India scheme is a welcoming move in this context. It will help india gain momentum to become the manufacturing powerhouse.This scheme will enhance the employment opportunities.it will provide various employements to the large pool of the young workers who join in the labour force every year. their employment will generate income which will then increase the purchasing power and the demands on the other hand for the manufactured goods
The campaign will ensure stronger bilateral ties among the continents and the countries as it highlights global vision. It will mutually benefit the countries in global exchange of the expertise and talents. But in order to achieve this certain changes have to be made and are necessary. They are as under

In order to boost the manufacturing sector of the country through this scheme the supply base of component and the material needs to be improved, acceleration in demand .challenges like provision of skilled manpower , removal of regulatory and procedural formalities , infrastructe development also have to be over powered.

A fair and a more sorted out tax system is the immediate need for the successful implementation of the campaign.
It is important to create a business friendly environment where it is important to gain the trust and the confidence of the investors
It is important to bring labour reforms through skilling, which will bring more efficiency in the manufacturing process as a whole.
The right execution of the project is of great importance at the state level itself. states will have to reform the laws even at the lower levels and facilitate implementation of policies and plans taken up by the centre.

CHAPTER 4:
CONCLUSION
‘Make in India’ campaign is a Lion’s step towards making the country a destination for global manufacturing.‘
Modi Government’s push for manufacturing sector in India is a laudable idea especially during the time when a number of big companies are finding an alternative to China due to its increasing cost “Manufacturing offers a better way to employ millions of workers , providing a stable source of foreign currency, and create a smooth and a reliable path for development. Manufacturing will enhance country’s macro-economicstability besides creating jobs.. Better infrastructure and easier regulations, especially around labour, will help propel manufacturing,”
The timing is perfect for India. Labour costs are rising in China; Japanese firms are shifting production from China because of military tensions; and the rupee has fallen, making Indian workers more competitive.
According to what we have researched, we think that it will be a great success as projects like these are needed today and any such step can surely bring success and development in our economy. The “Make in India” policy will act as a first reference point on aspects of regulatory and policy issues for the foreign investors and assist them in obtaining regulatory clearances. Now sooner the Competitiveness of manufacturing will now be removed but India will become one of the most competitive manufacturing countries in the world.
Mr. Modi is working hard towards this project and is dedicated enough to take it through. He has built a certain kind of trust and confidence in people’s mind which can further encourage him to make this project a success.
Modi has sought to inject a new optimism among the businesses and assured them that the investors will be treated with a lot of trust.
India is becoming accustomed to Modi’s symbolic gestures. He has established himself as a tough politician who expects ministers and bureaucrats to turn up for work on time, and actually take decisions, and keep files moving, so that these policies turns out into action. Clearly a man on a mission to make India work, he also wants to make the world realise it’s happening.
Sitting at his desk in Gujarat, Mr Modi said that when he first took charge of the state’s economy, “I thought: the sky is the limit.” A similar ambition today would serve India well.
 

India’s Progress Towards Sustainable Development Goals (SDGs)

According to the World Health Organisation, maternal mortality is the death of a woman while she is pregnant; or death occurring 42 days after delivery or termination of pregnancy. In 2017, approximately 295,000 women died from pregnancy and pregnancy-related complications. Four major medical complications have been attributed to this high mortality rate, and they include haemorrhage after childbirth, infections after delivery, hypertension during pregnancy, complications from delivery and unsafe abortion. Most of these deaths were reported to be preventable if adequate healthcare was provided and made affordable for pregnant women. 

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Maternal mortality has a significant negative impact on children and the family, and since the family is the smallest unit of the community, anything that impacts it directly or indirectly affects the entire community. Some of the impacts on children include increased risk of death, poor nutrition and school involvement. In the family, maternal mortality contributes to poverty and poor household management and these translate to the community they belong to. 

Because of its massive impact on the society, the United Nations General assembly included it as a health priority while developing the global goals, also known as the Sustainable Development Goals (SDGs). Different countries have agreed on a global scale that in order to achieve the SDGs and to continue the positive impacts that women bring to the economy, priority should be given to women empowerment and gender equality. Statistics show a 38 per cent decrease in maternal mortality ratio from the year 2000 to 2017. Globally, 342 deaths per 100,00 live births reduced to 211. That signifies that in 100,000 births, 211 women die. However, goal 3.1 of the SDGs aims to reduce this ratio to less than 70 deaths per 100,000 live births by the year 2030. Goal 3.1 is a target goal, and a key performance indicator of the SDGs found under goal 3 of the 17 global goals. Goal 3 aims to promote wellbeing and ensure good health amongst people of all ages by the year 2030. 

This essay will critically reflect on the progress or lack of progress in achieving the SDGs using goal 3.1 as a key performance index. India is my choice of country for this analysis. I chose India for this essay because it occupies a more substantial part of South Asia and has one-sixth of the world’s total population hence making it the second-most populous country in the world. Although WHO also reported that south Asia of which India belong to have made a significant effort since 2000 to reduce their maternal mortality ratio by 59%, South Asia and Sub Saharan Africa were reported to account for 86% of 295,000 global maternal death reported in 2017.

India has been commended for their progress in significantly reducing maternal mortality ratio in their nation. According to a 2018 baseline report which highlighted the progress made by India in actualising the SDGs, India had a maternal mortality ratio of 130 per 100,00 live births. This figure reveals a 77% decrease when compared to the 556 deaths per 100,000 live births recorded in the 1990s. It is important to note that some states in India have been able to achieve less than 70 deaths per 100,000 live births. 

This progress could be attributed to India’s heavy involvement in global development since the era of the Millennium development goals (MDGs). The year 2015 marked the deadline for reaching the MDGs, and before adopting the SDGs, India had a maternal mortality ratio of 174 deaths per 100, 000 live births. Also, they were fully involved and played a significant role in developing and shaping the SDGs, and their commitment is shown in how their national standards mirror the SDGs.

Research has demonstrated that in order to achieve progress in saving lives and improving the health of women, adolescent and children health; each country or organisation needs to achieve progress across a set of over lapping areas. Based on this evidence, key action areas were identified by the WHO in the document titled “Global health strategy for women, children and adolescent health guide (2016 – 2030). These action areas involve financing health, increasing women’s access to adequate healthcare and lifesaving commodities; accountability in all levels of leadership; use of multisectoral approach to address health issues and utilisation of principles that aid in universality, equity, human rights and developmental effectiveness.

India implemented vital actions that are believed to have contributed to the progress of achieving the SDGs, especially in reducing the maternal mortality ratio. These action areas include increased access to quality maternal care and health services with programmes like Pradhan mantri awos yojana and the national health mission; provision of funds to help subsidise or eliminate the cost associated with pregnancy and delivery including free transport with programmes like the Pradhan Mantri Jan Arogya Yojana; empowering women with knowledge necessary to make decisions about their reproductive health thus reducing the social determinants of maternal health; and finally, India has utilised the multi-sectoral approach in combating maternal mortality by facilitating positive collaboration between the public and private health sectors. Some of the important action areas suggested by WHO in the global strategy can be identified in actions taken by India and this has proven to improve women’s health.

Furthermore, it has been noted that there are still large disparities in numbers among states. This has been attributed to poor management, insufficient funds, poor health intertwined with other social determinants of health. India still aims to have less than 70 deaths in 100,000 live births by improving systems in place and working with the frameworks adapted by the WHO in monitoring health system performance in the various states. Also, NITI Aayog (the body responsible for coordinating efforts to ensure that India achieves the SDGs) have recently mapped out government schemes that will help to achieve the SDGs. The mapping will assist to improve systems already in place and develop new systems that will work with the frameworks adapted by the WHO in monitoring health system performance for maximum result.

In conclusion, India has been identified as marking remarkable progress in achieving the SDGs and this is evidenced in their steady decline of maternal mortality ratio. Although they have shown evidence of incorporating some of the key action areas of the global strategy for women, children’s and adolescent health (2016 – 2030). However, they agree that more work still needs to be done in that area and in the area of using the WHO health system framework for better health result.

.

REFERENCES

Molla M, Mitiku I, Worku A, Yamin AE. Impacts of maternal mortality on living children and families: A qualitative study from Butajira, Ethiopia. 2015 Reprodhealth 12 (s6) accessed online https://reproductive-health-journal.biomedcentral.com/track/pdf/10.1186/1742-4755-12-S1-S6

Bazile J, Rigodon J, Berman L, Boulanger VM, Maistrellis E, Kausiwa P Yamin AE. Intergenerational impacts of maternal mortality: qualitative findings from rural Malawi 2015 Reprodhealth 12 (s1) accessed online https://reproductive-health-journal.biomedcentral.com/articles/10.1186/1742-4755-12-S1-S1

SDG India Index 2018: A baseline report Pg 38 – 45 accessed online https://in.one.un.org/wp-content/uploads/2018/12/SDX-Index-India-21-12-2018.pdf

Centres for Disease Control and Prevention, National Center for Health Statistics. Underlying Cause of Death 1999-2016 on CDC WONDER Online Database, released December 2017. Data are from the Multiple Cause of Death Files, 1999-2016, as compiled from data provided by the 57 vital statistics jurisdictions through the Vital Statistics Cooperative Program. Accessed at http://wonder.cdc.gov/ucd-icd10.html on May 30, 2018, 9:11:06 AM

 

India’s Anti-Corruption Movements

 
 
1.0 Introduction
These days corruption is the word occurring maximum in the print and electronic media and the mind of the people in India today is constantly preoccupied with no other item as the issue of corruption. There are scams galore today which is happening in every corner of our country so that the country is even nicknamed as “Scamstan” which means land of scams. Perhaps in India the most chanted word next to Gods name is Corruption. According to Elliot and Meril writes, “Corruption is a willful failure to perform a specified duty in order to receive some direct or indirect personal gain”[1]. Thus in corruption a person willfully neglects his specified duty in order to have undue advantage. In fact to call an act corruption, the following characteristics should be present namely, in corruption the specified duty is neglected, there is a willful negligence of the duty and have a personal gain. The prevention of corruption act which proposed in 1988 defines, “Corruption means and includes all corrupt activities notified by a body designed by the government from time to time”.

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2.0 Combating corruption
In India a three pronged approach is advocated in combating corruption namely enactment and enforcement of a law against it, mobilization of public opinion against behavior, and the strict vigilance. Accordingly the Indian legal system came up with The Prevention of Corruption Act (PCA) 1988, chapter 9 of our Indian Penal Code (IPC) states the measure for the violation of corruption by the citizen of the country, and it also state that any citizens found in this act is liable under criminal conduct under the judiciary. In chapter IX A under no.171-B of the Indian Penal Code, ‘Bribery’ is defined under offences relating to moral misconduct and criminal activity. Indian judiciary has introduced various commissions to check corruption namely, The Prevention of Corruption Act (PCA), The Central Bureau of Investigation (CBI) and The Central Vigilance Commission (CVC).
The lokpal bill has along chequered history as it was first rooted in 1968 in terms of the recommendation of the administrative reforms commission. The introduction of The Right to Information Act (RTI) has given the right to citizens to force the government to lifts its veil of secrecy and ensure a corrupt-free system. In spite of this during Nehru era we had innumerable commissions of inquiry on corruption namely, The Railway Corruption Inquiry Committee under Acharya Kripalani (1953), The Vivian Bose Commission (1962), The Santhanam Committee on Prevention of Corruption (1964), The Wanchoo Committee on Black Money (1974). After these unsuccessful commissions hailed the campaign of Anna Hazare with his team of Santhosh Hedge, the retired Lokayukta of Karnataka, RTI activist Arvind Kejarwal, former Police officer Kiran Bedi and others came forward to mobilize young people to the cause and to gain the massive support to the Hazare movement they invited middle class and the young generation of the country to protest against corruption in the country.[2]
3.0 Anna Hazare`s Anti-Corruption Movement
I would be wrong if I say the fight against corruption began with this movement because the awareness had begun earlier but it was more hidden and less intense in action. With the nexus of the state with corporations, the poor losing more and more of their assets and the governing class increasing their wealth and publicly vulgarizing it, there was a pent up anger among the people of the country which the government underestimated. And this gradually turns into movement and these anti corruption movement had the following context for the movement namely,

About 15% of the 548 Lok Sabha and 245 Rajya Sabha MPs face serious criminal charge for murder, rape and extortion.
A high court judge of west Bengal faces impeachment by parliament and the chief justice of Sikkim took voluntary retirement. There have been serious charges of corruption against some judges of the Supreme Court. The Supreme Court has voices concern over corruption in the lower levels of Judiciary.
An ex-cabinet minister, a sitting MP and a few corporate honchos are in jail facing serious corruption charges for cheating thousands of crores of our money.
The commonwealth games which should have been a showcase of excellence to remember, is now remembered for completely the reasons of corruption and this is the symbolic of a rotten governance system in every walk of our life.
The members of parliament have been increasing their salaries perks and allowances. People in the country do not believe that our parliamentarians need that sum of money for the services they render; it is the national wealth that they have been engulfing. Parliament has not functioned for several days with parliamentarians collecting their perks and salaries for the work done and meetings not attended.
Several chief ministers in state have been involved in corruption of great magnitude. Their land deals, mining operations, oil scandals and involvement in financial and business deals have lowered their status and dignity in the public realm.
Elections have become a mockery. Where candidates and parties try to outdo each other during elections by corrupt deals. Promises are made that are never implemented, all kinds of tricks are adopted, and people are divided on various grounds.
Posts are auctioned. Even the teachers, police officers and people in the administration have to pay bribes for transfers. Ordinary employees of the state-clerks, peons and the others are caught with huge excess and unaccounted wealth that does not belong to them. It is a robbery of public wealth. Those close to the administration have unaccounted money.[3]

These were few of the contexts of the Anti Corruption Movement led by Anna Hazare. These issues were addressed in the lokpal bill.
3.1 The Evaluation and the Limitations of Movement
I feel this movement had worked for the instant solutions to the immediate problems, where the changes in any society are slow and gradual. The other major aspect which involved in the movement were the middle class people of the society who had only material cause in their minds of getting things at the cheaper rate by bringing back the black money to the country and during the movement there were many money (profit oriented) factor came into picture. We used the Gandhian symbols of white-cloth caps mixed with new age symbols of candles but there ideology was about market exchanges.[4] And this movement was not a social justice movement like our Independence movement because any movement should be driven by the masses but this movement is driven by a single person who is transformed as a messiah by a disillusioned people. Corruption by those in power is all about he invites people to fight against.
The method to get rid of that corruption for hazare is all about a law to be enacted. What a simple solution for a complicated problem! What Anna is determined to do is mobilize the people, dictate a bill to the parliament, and ask them to act. This is authoritarianism because in democracy all voices have to be heard and decisions can be made only through dialogue. This bill needed wide consultation and the team of Anna Hazare alone does not constitute civil society. On the other hand bill needed to bring everyone into accountability because judiciary and the parliamentarians were not under the bill. Take the case of India`s caste system where we are not able eradicate it. The caste system is a socio-religious corruption which is more dangerous than the corruption Anna Hazare engaged to fight against.
Dalits still suffer untold pain and discrimination because of this corruption it is like a cancer and this caste corruption is on the increase manifested in different forms. Why was Anna Hazare silent on caste corruption? We have a social evil of prostitution thrives in the name of religion (Devadasi system), female feticide is concern. , we had anti-Sikh riots in 1984, Gujarat genocide of 2002, Kandhamal riots of 2008-09, these are form of corruption that has destroyed and divided our society, and many questioned where Anna was during this situation? Dalit columnist Chandrabhan Prasad says, “The Anna Hazare phenomenon is leading us to the rejection of representative democracy and this movement is against the India`s political democracy itself”[5]. Because those involved in the movement want everybody to believe that only politicians are corrupt.
4.0 Conclusion
The massive participation of youngsters in anti-corruption movement led by team Anna is seen to achieve hidden interests of invisible forces. As the team had good financial support from where did this aid come from to a normal social activist. Anna followed fasting method in the protest which was considered has the warning and treat for the nations by Mahatma Gandhi he also said people should not go on hunger strike after the independence of our country. Being the follower of Gandhi, Anna has disobeyed what Gandhi has asked us to follow. This movement has brought a class of people to the politics in the notion of making a difference. The public opinion is valued in governance but that public opinion cannot be based on the class interests. The common people are affected by the corruption of our country and we have also contributed to it.
Bibliography
Abdulraheem, “Corruption in India: An Overview,” Journal of Social Action, no.59, (October 2009).
All India Reporters (AIR) SC 870 “State of Madhya Pradesh v. Shri Ram Singh”, (April 2000).
Deep Pankaj, “Corruption, Transparency and Good Governance,” Journal of social action, no.59, (December 2009).
Pinto Ambrose, “Anna Hazare Movement and India`s middle class,” Journal of social action, no. 61 (Dec 2011).
Singh Avtar, “The problem of corruption and its remedies,” Journal of Social Action, no.61 (December 2011).
Times of India (Bangalore Edition), 19th August, 2011.
Transparency International. The TI source book. Berlin: Transparency International, 1998.

[1] Avtar Singh, “The problem of corruption and its remedies,” Journal of Social Action, no.61 (December 2011), 373.
[2] Pankaj Deep, “corruption, transparency and good governance,” Journal of social action, no.59, (December 2009), 385.
[3] AmbrosePinto, “Anna Hazare Movement and India`s middle class,” Journal of social action, no. 61 (Dec 2011), 337
[4] Ibid., 344
[5] Times of India (Bangalore Edition), 19th August, 2011.
 

History of India’s Economy

Journey of Indian economy from a devastated nation to a developing worldwide economy is a moving illustration for some creating countries. Keeping in mind the end goal to comprehend India’s financial voyage, it is vital to shed some light on India’s political and budgetary history. Following 200 years of British standard, India turned into a free sovereign country in 1947. This recently conceived country confronted various issues including a smashed economy, a negligible rate of education and horrific destitution. It was a mission unimaginable for Indian pioneers, however Sardar Patel, Nehru and others converted India into a common and vote based country.

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To better comprehend India’s economic development; its economic history ought to be separated into two stages, the initial 45 years after the autonomy and the most recent twenty years as a free market economy. Throughout the initial 45 years after freedom, India’s economy was separated into two unique fragments, private and public. The private area possessed and worked little to medium size organizations and commercial ventures ensured by the administration and the legislature dealt with everything else. The legislature was responsible for the vast majority of the buyer administrations including transportation, for example, aerial shuttles, railroads and nearby transportation, correspondence administrations, for example, postal, phone and broadcast, radio and TV, and social administrations, for example, training and medicinal services. The proposition of the legislature was to give these administrations, at a sensible expense, and additionally vocation. India received a five-year improvement plan from its closest associate, the Soviet Union, with a specific end goal to enhance framework, agrarian handling, human services, and instruction; however the advancement was greatly moderate because of India’s fair framework.
India’s economy and political framework experienced an extreme emergency throughout the time of Indira Gandhi and her Congress Party guideline. Throughout her organization, there was no economic advancement due to an absence of regard for economic change. Gandhi and her Congress Party gave careful consideration to how to stay in force as opposed to tackling India’s economic and social issues. In 1975, Gandhi captured resistance pioneers, forced oversight on the press and suspended races. Throughout this time, economic development stagnated and far reaching defilement turned into the standard. At long last, bowing down to huge inward and outer weight, she proclaimed a general decision in 1977. Gandhi and her Congress party lost that race. In a couple of years, she returned into force again and her child Rajiv Gandhi assumed control after her death, as PM. He stayed in force until he was additionally murdered in a shell impact and India’s economy was totally overlooked. Throughout the early 1990s, India’s economy started to decline and was confronted with developing expansion, unemployment and neediness and truly low outside trade hold. The breakdown of the Soviet Union altogether affected Indian’s economy in light of the fact that the Soviets were India’s significant exchanging accomplice and a key supplier of ease oil. Accordingly, India needed to purchase oil from the free market. India was accepting an enormous settlement of remote trade from Indians working in the Middle East, yet the Gulf War sent many Indian labourers back home bringing about an immense gouge in India’s outside store. Thusly, India’s remote trade store tumbled to a low of $240 million, simply enough to backing just two weeks of imports. The International Monetary Fund (IMF) and the World Bank offered help to India in return for economic changes. The legislature used up choices lastly, the administration needed to transform its shut-entryway economic arrangements in 1991.
Luckily, nobody from the Gandhi family was in force to settle on choices for the nation and Prime Minister Narasimha Rao took steps towards liberalization and privatization to change India’s economy. Manmohan Singh, who was the money priest around then went ahead and presented a few economic changes. He brought down levy levels, changed conversion scale approach, changed modern permitting strategy and likewise loose India’s outside immediate financing (FDI) arrangement. These changes opened the entryways for multinational organizations to put resources into India. India accepted positive reactions from worldwide financial specialists. When the 1991 changes, remote value proprietorship was limited to 40 percent and the exchange of engineering was important to work together in India. These hindrances were evacuated for outside organizations. Numerous multinational organizations exploited India’s new economic strategies and expanded their stakes to more than 51 percent in their subsidiaries bringing about a few fold expand in outside immediate financing in only three years.
Demographics
The current populace of the Republic of India is evaluated to be about 1.27 billion individuals, which is an expansion of something like 2.3% from the last record of the populace. Historically in the course of the last a large portion of a century, the number of inhabitants in India has been short of what the number of inhabitants in China. However, lately, the number of inhabitants in India has been expanding substantially more than the number of inhabitants in China has, so the populace crevice is moderating diminishing between the two nations.
In view of the aggregate area territory and the aggregate populace of the nation, the populace thickness of India is something like 1001 individuals for every square mile. According to age the population of India can be divided in to the following categories

Age Structure

Years

Percentage

Male

Female

0-14

28.9

187,236,677

165,219,615

15-24

18.2

117,385,009

104,516,448

25-54

40.4

253,642,261

239,219,931

55-64

6.9

42,307,170

41,785,413

65 and above

5.7

32,992,850

36,494,985

 
 
 
 

Gross Domestic Product (GDP)
The Economy of India is the tenth-biggest on the planet by ostensible GDP and the third-biggest by purchasing power parity. Indian Economy is second & third biggest in Asia in term of purchasing power parity and Nominal GDP and biggest Economy in South Asia. It is the world’s second quickest developing-real economy simply after China, with development rates averaging 7.7% in the course of recent years

Unemployment rate
Unemployment records in India are kept by the Ministry of Labour and Employment of India. From 1983 till 2013, Unemployment rates in India found the middle value of 7.6 percent arriving at a record-breaking-high of 9.4 percent in December 2010 and a record low of 3.8 Percent in December 2013. In India, the unemployment rate measures the amount of individuals heartily searching for work as a rate of the work energy. The amount of unemployed persons in India diminished to 39963 thousand in 2009 from 39974 thousand in 2010. Unemployed persons in India arrived at the midpoint of 36933 thousand from 1985 until 2012, arriving at a record-breaking-high of 41750 thousand in 2001 and a record low of 24861 thousand in 1985. In India, unemployed persons are people who are without a vocation and eagerly trying to work. India has a Gini coefficient of 36.8
The check of individuals being without work is on the ascent in India as economic stoppage and slower business development exercises cast a shadow on job era, say specialists.
Showing drowsiness in the nation’s occupation showcase, the International Labor Organization (ILO) has said in its late report that the unemployment situation in India throughout the most recent two years has been demonstrating a climbing pattern.

The exchange rate
An exchange rate has a counter currency and a base currency. In an immediate quotation, the remote currency is the base currency and the provincial currency is the counter currency. In an aberrant quotation, the local currency is the base currency and the outside currency is the counter currency. Most exchange rates utilize the US dollar as the base currency and different coinage as the counter currency. Correspondingly India likewise does the same.

The business cycle
The primary venture in the economics of business cycles is to secure `stylised realities’ about the qualities of business cycle variances. When these are known, elective models could be judged on the degree they can anticipate these stylised certainties. Concerning there is the inquiry of structural conversion of the economy.
There was an old Indian macroeconomics which agonized over distinctive things. In late decades, the economy has changed in basic ways: the economy has gotten to be basically open, the part of agribusiness has subsided, a budgetary framework has happened and private choices of firms that are formed by fiscal markets now overwhelm variances of venture. It seems evident a farming-ruled economy, where horticulture is 12% of GDP, the part of rainstorm stuns in GDP ought to blur away, which ought to matter for the ghostly properties of business cycle changes. Different sorts of structural change may not change stylised certainties excessively.
The three parts which appear to be the reasons of unfriendly impact on the business cycle of India are: (a) The decrease in the offer of farming; (b) Investment/ stock cycles established in the conduct of private firms and budgetary markets and (c) Capital record coordination. The blurring ceaselessly of agribusiness gave a decrease in the instability of GDP. Speculation and yield are currently emphatically connected because of the new financing/stock cycle that is established in the private segment. Ace-cyclicality of capital streams aides clarify higher utilization instability. A lot of learning in Indian economics was rendered old when India changed from being a shut and poor nation to being an open and center-salary economy.
Consumer spending patterns
The purchaser’s habits of spending in India are definitely diverse when contrasted with the western world. Ordinarily, Indians are very economical in the matter of utilizing their assets, and they emphatically put stock in reusing wherever conceivable. Case in point, a nearby merchant might provide for you sustenance wrapped in daily papers. Despite the fact that the public transportation offices are used to the greatest, individuals lean toward buying little measured autos. It is not exactly exceptional to see enormous families going inside little autos. Indians definitely do show a more terrific level of tolerance and continuance.
Presently with the economic blast, and with the impersonation of western consumerism, one may get the thought that things may very well go crazy. The country India is quick getting up to speed with the economic development. With the rising patterns in consumerism, Indians are more averse to lessen their using on family conveniences and lifestyle vital elements like training, social insurance and transportation. Then again, a large portion of the Indians may cease from obtaining extravagance things, as they think as of it to be immaterial for their lives. Then again, with the quick economic developments, unique varieties could be seen in the using examples of Indians. The using propensities, particularly in the urban zones are tilting more towards the buy of extravagance things also.

In the wake of using on the aforementioned consumption, the higher working class Indians figure out how to make savings of 17% of their salaries. Passing by the aforementioned information, the Indian advertise without a doubt does seem brilliant for further business.
Investment patterns
The Indian shopper is changing and advancing. Furthermore, so are his utilization and investment designs. As Indian purchasers extricate their tote-strings and are less hesitant to putting resources into offbeat investment choices, the whole investment story is getting redefined.
The recognition and use of investment choices in metros and high development towns is high. Individuals are progressively contributing and increasing cash through different investment choices. The common trust industry in India shows an intriguing situation of 48 million financial gurus, a substantial mixed bag of item offerings and concurrence of private, public and outside Asset Managing Companies. Corporates are the predominant mogul amass in the Indian Mutual Fund Industry and they represent very nearly 48% of the aggregate investment (AUM) in the business and they are more turned towards non-value reserves which offer high security & liquidity and subsequently their inclination towards Liquid/Money Market and Debt-arranged trusts; The second overwhelming gathering in the business is the Retail financial gurus’ gathering which represents just about 24% of the aggregate investment (AUM) in the business, while they represent 98% of the 48 million speculators in the business
India Government Spending
Government Spending in India expanded to 1907.13 INR Billion in the final quarter of 2013 from 1503.10 INR Billion in the second from last quarter of 2013. Government Spending in India arrived at the midpoint of 1282.71 INR Billion from 2004 until 2013, arriving at an unsurpassed-high of 1907.13 INR Billion in the final quarter of 2013 and a record low of 735.82 INR Billion in the second quarter of 2004. Government Spending in India is accounted for by the Ministry of Statistics and Program Implementation (MOSPI).

Import and export of India

Question 1
Suggest, based on your data, how the country can better its economic growth?
To make India’s economic development more practical, India needs a second era of changes to accelerate privatization of government possessed organizations, enhance money related and lawful frameworks to ensure investment and modernize its foundation. It is likewise essential to present business cordial assessment changes redesign work laws to the worldwide level and kill administration to pull in more global organizations with more investment. Three real main thrusts can support the India’s economic development and success. Expanded outside immediate investment, India’s smoothness in data innovation and expanded down home utilization due to a developing working class populace. The mixture of outside immediate investment and finesse in data engineering can help in processing many new employments and can make a developing white collar class that thusly can make expanded household utilization. In outcome again outside immediate investments will build to take care of the demand of Indian customers. India’s developing white collar class is the spine of its economy and it is normal that about 50% of its populace will fall into the classification of working class by 2040 with a significant measure of disposable pay. The last period of development hailed from a developing data innovation industry and administration industry. India is turning into a centre point for data innovation and an information-based economy. In view of the accessibility of a profoundly gifted specialized workforce and enhanced security of licensed innovation, numerous western firms moved their innovative work offices to India with a specific end goal to decrease their R&D cost. India’s economy is currently underpinned by its skill in data engineering, bigger capital business, enhancing foundation and developing white collar class with expanding disposable wage.
Question 2
Why should we be worried about high unemployment?
High unemployment may demonstrate a discouraged economy, yet there are great reasons why it may not, as well. When new advances create, old ones get abandoned. The truth of the matter is that large portions of our untalented specialists are, exculpate the doltish correlation, in the same way as the stacks of old electronic typewriters that are heaped up in junkyards around the nation. The cutting edge economy needn’t bother with them. The point to be agonized over is the an alternate reason of unemployment like retreat. Under retreat
Financial strategy can diminish unemployment by serving to build total interest and the rate of economic development. The administration will need to seek after expansionary monetary strategy; this includes cutting charges and expanding government using. Easier expenses increment disposable salary (e.g. VAT slice to 15% in 2008) and in this manner help to expand utilization, prompting higher total interest (AD).
With an increment in AD, there will be an expansion in Real GDP (as long as there is extra limit in the economy.) If firms process all the more, there will be an expansion sought after for laborers and thusly lower request-insufficient unemployment. Additionally, with higher total interest and solid economic development, fewer firms will go bankrupt significance fewer occupation misfortunes.
Keynes was a solid promoter of expansionary monetary approach throughout a delayed subsidence. He contend that in a retreat, assets (both capital and work) are unmoving, in this manner the legislature ought to mediate and make extra request to decrease unemployment.
 

SWOT and PEST Analysis of India’s Telecom Sector

INTRO
Indian telecom industry world’s fastest growing industry(last three years 42%) and adding millions of customer monthly and reach to mark of more than 700 million customer mark in the end of year 2010. It is the most dynamic industry and based on the tough competition, price war emerged in the 3rd quarter of 2010. It has lowest tariffs in the world and highest telephone density. It also suffers from highest churn rate 2% and 5% for postpaid and prepaid respectively. It also has lowest ARPU (average revenue per user). It is second largest network in the world (in terms of number of subscriber #1st china) The wireless sector has become so dominant that it is has almost made the landline part dormant with no new happenings/activities/technology in that domain of telecommunication services. A look at their contribution to the total telephone services shows the rapidly change face of the telecommunication industry in India. This sea change has been caused by a number of factors varying from reduction in tariffs and cost of mobile handsets to change in government policies to mindset of the general public.

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Market Structure
Indian telecommunication market is divided into a total of 23 circles, which include 4 metros, and 19 other circles. These circles are further classified into A, B and C type of circles base in the certain economic parameters and revenue potential. Circles were categorized as A,B, & C based on the revenue potential as per the 1st auction in 1995.
 
Total Market Size: US $ 60 Billion
Telecommunication Services can be broadly classified under 3 heads: Telephone, Broadcasting and Internet.
An exponential growth in the number of subscribers has been witnessed over the recent years with the annual growth going as high as 47%.
Indian tariffs are very low in comparison to world standards.
The COMPANIES which I am going to analyze is top 5 as per the market share shown by above table
BHARTI AIRTEL
IDEA
VODAFONE
BSNL
AIRCEL
PEST ANALYSIS
It is the frame work designed to assess the macro environment of any country, organization or company. It is basically include the following four factors but now days it extends further to PESTELED the extension denotes as ENVIROMENT -LEGAL-ETHICS-DEMOGRAPHICS.
This analysis tries to find all details related to its four heads, which has some meaning to business and affect business activities.it is the part of competitors-analysis-and-customer-retention-strategies/”>external analysis while conducting strategic analysis for business. It is useful tool to understand business growth opportunities and if any previous decline why was decline. With the increase of competition and fast changing global scenario each firm is doing this to be dynamic in its position.
POLITICAL FACTORS

GOVERNMENT TYPE
LABOUR LAW,
FREEDOM OF PRESS, RULES OF LAW, BUREAUCRACY, CORRUPTION
TRADE RESTRICTIONS/ TARIFFS
POLITICAL STABILITY

ECONOMIC FACTORS

ECONOMIC GROWTH
INTEREST RATES
EXCHANGE RATES
INFLATION RATE
BUSINESS CYCLE STAGE

SOCIAL FACTOR

CULTURAL ASPECTS
BUYING BEHAVIOR
POPULATION GROWTH RATE
AGE DISTRIBUTION
INCOME DISTRIBUTION
LEVEL OF EDUCATION

TECHNOLOGICAL FACTOR

RATE OF OBSOLESCENCE
R&D FACILITIES
SPEED OF TECHNOLOGICAL TRANSFER

POLITICAL FACTOR- these factors are related to the politics of the country, it has huge impact as India has close environment before 1991 and it’s difficult or impossible to set up a business.

Government type – the current UPA government of India is progressive and liberal which laying path to economic development

SWOT ANALYSIS
It denotes STRENGTH -WEAKNESS-OPPERTUNITY-THREAT and this technique used to analyze a company during strategic planning. This technique is credited to Albert Humphery who led a convention at Stanford University in the 1960s and 1970s using data from Fortune 500 companies.
BHARTI AIRTEL: – Bharti airtel limited is a leading global telecommunications company with operations in 19 countries across Asia and Africa. The company offers mobile voice & data services, fixed line, high speed broadband, IPTV, DTH, turnkey telecom solutions for enterprises and national & international long distance services to carriers. bharti airtel has been ranked among the six best performing technology companies in the world by business week. bharti airtel had 200 million customers across its operations.
STRENGTH

Bharti Airtel has more than 65 million customers (July 2008). It is the largest cellular provider in India, and also supplies broadband and telephone services – as well as many other telecommunications services to both domestic and corporate customers.
Other stakeholders in Bharti Airtel include Sony-Ericsson, Nokia – and Sing Tel, with whom they hold a strategic alliance. This means that the business has access to knowledge and technology from other parts of the telecommunications world.
The company has covered the entire Indian nation with its network. This has underpinned its large and rising customer base.

Weaknesses

An often cited original weakness is that when the business was started by Sunil Bharti Mittal over 15 years ago, the business has little knowledge and experience of how a cellular telephone system actually worked. So the start-up business had to outsource to industry experts in the field.
Until recently Airtel did not own its own towers, which was a particular strength of some of its competitors such as Hutchison Essar. Towers are important if your company wishes to provide wide coverage nationally.
The fact that the Airtel has not pulled off a deal with South Africa’s MTN could signal the lack of any real emerging market investment opportunity for the business once the Indian market has become mature.

Opportunities

The company possesses a customized version of the Google search engine which will enhance broadband services to customers. The tie-up with Google can only enhance the Airtel brand, and also provides advertising opportunities in Indian for Google.
Global telecommunications and new technology brands see Airtel as a key strategic player in the Indian market. The new iPhone will be launched in India via an Airtel distributorship. Another strategic partnership is held with BlackBerry Wireless Solutions.
Despite being forced to outsource much of its technical operations in the early days, this allowed Airtel to work from its own blank sheet of paper, and to question industry approaches and practices – for example replacing the Revenue-Per-Customer model with a Revenue-Per-Minute model which is better suited to India, as the company moved into small and remote villages and towns.
The company is investing in its operation in 120,000 to 160,000 small villages every year. It sees that less well-off consumers may only be able to afford a few tens of Rupees per call, and also so that the business benefits are scalable – using its ‘Matchbox’ strategy.
Bharti Airtel is embarking on another joint venture with Vodafone Essar and Idea Cellular to create a new independent tower company called Indus Towers. This new business will control more than 60% of India’s network towers. IPTV is another potential new service that could underpin the company’s long-term strategy.

Threats

Airtel and Vodafone seem to be having an on/off relationship. Vodafone which owned a 5.6% stake in the Airtel business sold it back to Airtel, and instead invested in its rival Hutchison Essar. Knowledge and technology previously available to Airtel now moves into the hands of one of its competitors.
The quickly changing pace of the global telecommunications industry could tempt Airtel to go along the acquisition trail which may make it vulnerable if the world goes into recession. Perhaps this was an impact upon the decision not to proceed with talks about the potential purchase of South Africa’s MTN in May 2008. This opened the door for talks between Reliance Communication’s Anil Ambani and MTN, allowing a competing Inidan industrialist to invest in the new emerging African telecommunications market.
Bharti Airtel could also be the target for the takeover vision of other global telecommunications players that wish to move into the Indian market.
VODAFONE- Vodafone Essar is the Indian subsidiary of Vodafone Group and commenced operations in 1994 when its predecessor Hutchison Telecom acquired the cellular license for Mumbai. The company now has operations across the country with over 127.34 million customers. In a survey conducted by India’s leading business weekly, Vodafone Essar was awarded ‘Most Respected Company’ in the Telecom Sector for 2010.Vodafone is one of the world’s leading international mobile communication group

STRENGTH
Presence in many countries and backed by number one telecom country.
Provider of 3G and blackberry services and business solution.
Number one gainer due to MNP 50,000 customer.
WEAKNESS
THREAT
OPPORTUNITIES

Emerging markets and expansion abroad
Innovation
Product and services expansion
Growing data business and 3G auctioning
VAS as a means to increase ARPU (big boss, Zoo Z00)
Growing Enterprise solution market (10.2% in 2009 anticipated)
Large capital can be raised by listing Vodafone on Indian Stock Exchange(IPO)
Tower sharing business with Indus Towers

iDEA- idea is the 3rd largest mobile services operator in India, in revenue terms, and recorded a subscriber base of over 78 million as on end November ’10. It became a pan-India integrated GSM operator covering the entire telephony landscape of the country, and expanded its NLD and ILD operations in FY 2010. During the year, Idea increased its revenue market share by over 1%, despite stiff tariff war in the market. The company has won license to offer 3G services in 11 service areas, which generate over 81% of the company’s total revenue. Idea’s 3G services will be launched in the year 2011.
STRENGTH
WEAKNESS
THREAT
OPPORTUNITIES
AIRCEL – The Aircel group is a joint venture between Maxis Communications Berhad of Malaysia and Sindya Securities & Investments Private Limited, whose current shareholders are the Reddy family of Apollo Hospitals Group of India, with Maxis Communications holding a majority stake of 74% .Aircel commenced operations in 1999 and became the leading mobile operator in Tamil Nadu within 18 months. In December 2003, it launched commercially in Chennai and quickly established itself as a market leader – a position it has held since.
STRENGTH
WEAKNESS
THREAT
OPPERTUNITIES
BSNL – Bharat Sanchar Nigam Ltd. formed in October, 2000, is World’s 7th largest Telecommunications Company providing comprehensive range of telecom services in India: Wire line, CDMA mobile, GSM Mobile, Internet, Broadband, Carrier service, MPLS-VPN, VSAT, VoIP services, IN Services etc. Presently it is one of the largest & leading public sector unit in India.
STRENGTH
WEAKNESS
THREAT
OPPERTUNITIES
Industry- pestel, porter, 7s
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Analysis of India’s Sports Goods Industry

The Sports Goods Industry was founded by Sardar Bahadur, Sardar Ganda Singh Oberoi in the year 1883 at Sialkot and Sports Equipment became the first Indian Industrial Product to be exported in 1885.The Sports Good Sector consists of both organised and unorganized sections of the industry. The Indian Sports Goods Industry thus has its origins in Sialkot, Pakistan. When India got partitioned in 1947, many Hindu artisans migrated from Sialkot to Punjab and Uttar Pradesh in India. Jalandhar is the most primary centre of India’s Sports Goods Industry followed by Meerut in UP and Gurgaon in Harayana.
India is one of the largest producers of footballs and other inflated balls. The Indian Sports Goods Industry has grown tremendously since 1947. Some of the products like Cricket bat, ball, football and nets have been steadily gaining fame all over the world.
The Sports goods Industry has grown by leaps and bounds in the past five decades and has contributed significantly to the Indian Economy by way generating employment, exploiting the rural and urban potential and also by way of exports, which are increasing every year.
The Indian sports goods industry manufactures more than 300 items. United kingdom is the one of the major importer of sports goods manufactured in India followed by countries like USA, Germany, France and Australia.
Some of the major items that are exported include inflatable balls, hockey sticks and balls, cricket bats and balls, boxing equipment, fishing equipment, indoor games like Carrom and Chess boards and some protective items.
The sports Goods Industry thus provides a useful livelihood avenue and has helped preserve traditional skills acquired over generations. As some exquisite sports products require highly skilled processes to be followed for their production, the need for skilled workers in the industry is even more prominent inspite of the introduction of automated systems.
After liberalization of India and introduction of the WTO agreements, sports goods sector is experiencing tremendous competition from foreign brands.
Currently, the industry in mainly focused in the small-scale and cottage sector backed by some of the government’s liberalized industrial policies. There is also a wide scope for improving the marketing of products and modernizing the technology used for manufacturing them.
SPORTS GOODS INDUSTRY IN INDIA
The Sports goods industry is divided into various manufacturing clusters. We would be discussing the clusters of Jalandhar, Meerut and Kashmir in detail as follows:
Manufacturing cluster of Jalandhar:
This cluster is called a transplanted cluster, as a major segment of this cluster which was originally part of Sialkot, Pakistan moved to Jalandhar on India’s partition. It is an important supplier of quality sports goods to more than 130 countries including some of the developed nations of the world. The Jalandhar cluster is also the only cluster to introduce the concept of machine-stitched footballs to meet the demands of the FIFA world cup 2010 and beyond.

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Skilled workers engaged in this industry are the most important parts elements in the production and are settled in camps adjacent to the manufacturing unit. The entrepreneurs setting up modern units with mechanized production systems are shifting to open space with more area to achieve better results and are away from crowded localities. The official estimate of the total number of persons working in the industry in about 1,70,000 while the unofficial estimate is 3,00,000.
MANUFACTURING CLUSTER OF MEERUT:
There are about 1250 registered and 2000 unregistered big and small sports goods manufacturing units providing direct and indirect employment to approximately 70,000 persons in the Meerut District of Uttar Pradesh. Supporting organizations have also grown to supply adequate quantity of raw materials to the sports goods industry and to provide training to the workers during the last few years. At the same time many schemes are operational for the development of the cluster. If given the right business opportunity to the sports goods manufacturers, this cluster can flourish.
The production is low because the units are not mechanized as only 20% of them use machinery. Also latest technology is not available which acts as a deterrent in respect of the competition from China, Pakistan, etc. About 60% total production is being exported to Australia, South Africa, England, America, West-Indies, New Zealand, Zimbabwe, Bangladesh etc., through middle men and the remaining products are sold in the domestic market across India.
There are various government bodies that help in the monitoring the progress and development of the cluster. These are listed and described briefly as under:
Directorate of Industries, U.P.: This Government body is supporting the cluster in every respect by providing training, Technical Support etc.
Process cum Product Development Centre (PPDC): It meets the technical needs of sports goods industry throughout the country in collaboration with Govt. of U.P.
All India Sports Goods Manufacturers Federation (AISGMF): It supplies the information, technology and technical training to the Industry. It also arranges the raw material for the Industry.
Export Promotion Bureau: It helps the small manufacturers to collect their product in one platform or the other so that they could export their product to other countries on low prices.
Cricket Bats Manufacturing Cluster in Kashmir:
The history of cricket bat industry in Kashmir goes back to pre-partition days when Sialkot (Pakistan) was the sports goods centre. With the partition of the Indian sub-continent, the skilled craftsmen of Sialkot shifted to Jalandhar, Meerut and the cleft makers of Kashmir turned toward newly established centers. In due course of time, the demand of the cricket bats in the country increased and cricket bats started getting manufactured to meet this demand.
The finest willow is English Willow, followed by Kashmir Willow for manufacturing cricket bats. Over 80% of all cricket bats today are manufactured in Jalandhar, Meerut, Kashmir and Jammu cities. All of them depend on Kashmir for their willow clefts.
World famous Kashmir Cricket bats industry is now facing a slow death. Cricket Bat Manufacturers Association revealed that out of a total 300 cricket bat manufacturing units in Kashmir valley, half of them have shut their units. The cricket bat industry is battling for survival in the state. Jammu region, which boasted of 77 cricket bat manufacturing units a few years back, has now a mere 10 units, while the scenario in Kashmir valley is no different.
Major Sports Goods Production Centers/Clusters and Product Categories:
Major Sports Goods manufacturing clusters and major product categories of sports goods produced are compiled in the following table:
Sl. No.
Location/
Cluster
Major Product Categories
1.
Jalandhar
Inflatable ball( Soccer /Rugby/Volley/Net/ Hand & Basket ball) in PU & PVC
Boxing Equipment
Cricket Equipment
Sports ware
Track and Field Equipments
Sports Training equipment
Hockey Equipment
Hockey Foam Moulded Goalie Range & Shipguards
All kinds of Nettings
2.
Meerut
Weight Lifting Equipment
Cricket Equipments
Athletics Equipments
Boxing Equipments
Table Tennis
Badminton
Carrom board
Fitness and Exercise equipment
Lane Markers
Basket ball
Netball rings
TT accessories
Sports Apparel
3.
Jammu &
Kashmir
Cricket Bats
4.
Delhi
Football
Carrom Board
Chess
Cricket Equipment
Billiards/Snooker/Pool Tables
Accessories
Football Bladders
Boxing equipment
Punching
Sports Helmets
Educational Puzzles
Board Games
5.
Gurgaon
Golf Equipment
Board Games
6.
Mumbai
Water Park Slides
Carrom Board
Payground
Fitness Equipment
Sports Nets
Helmets
7.
Kolkata
Skipping rope
Carrom Board
Magic tricks & magic apparatus
8.
Chennai
Tennis Balls, Sports Shoes and Apparels
9.
Bangalore
Bowling Equipments
Sports Medals & Trophies
Gym & Health Equipments
Productivity Growth of Indian Sports Goods Sector
Indian sports good sector is a fast growing & revenue generating sector. Industry is clustered mainly at Jalandhar, Meerut and Jammu belt providing high employment to locals. Industry is bolstered by high labour productivity, low wage rates and high skill sets of labour class involved. Indian sport goods industry has dualistic nature with cheap skilled labour as one pillar and handmade product being the other.
Sports Goods sector in India comprises of organized sector which is registered under FACTORY ACT 1948 and unorganized sector (cottage industry) scattered around sports zone of Jalandhar and Meerut. Recent globalization and skilled labour has increased productivity which resulted in significant portion of total product exported from India.
Fig. 1: Labour, Capital and Total factor Productivity Growth Indices
From the above graph we can conclude that capital productivity has increased but the same period witnessed decline of labour productivity and total factor productivity. This aspects requires high capital investment, FDI & Research and Development for debottlenecking the growth and production.
Export Competitiveness of Indian Sports Goods Industry
Sports good market is facing an all out competition with expansion of Sporting giants like NIKE, ADIDAS, PUMA and REEBOK. Inspite of all these factors Indian sports goods industry has shown tremendous growth. Improved operation strategies, aggressive marketing and investment in Research and development has increased the quality production and stamped India as one of major supplier of sporting goods in global arenas. The international market awareness resulted in revamp of the industry, instigating better product development and diversification trends.
Impact of above can be seen in double digit growth rate (in RS) of Sports industry in last financial year when other sectors where facing growth crunch because of global recession.
Overall Export Performance of Sports Goods from India
According to Sports Goods Export Promotion Council (SGEPC) total export value of Indian sports industry is estimates to be around Rs 586 crores. This shows year on year growth rate of 13%.Top 5 performers which constituted for more than 60% of the total export value are Hammocks, Inflatable Balls, Boxing Equipment, Cricket Bats & General Exercise Equipment. In this Hammocks recorded a massive growth of 76% (in Rs).
India’s Export of Major Sports Goods – 2002-03 to 2008-09
Country Wise Export of Sports Goods
Financial year 2008-2009 saw increase in export destination from 127 countries(2007-2008) to 137 countries (2008-2009).Top 5 destinations includes U.S.A, U.K., Germany, Australia, South Africa and accounted for 70% of the total export by industry.
India’s Export of Sports Goods – 2004-2005 to 2008-09(Rs in crore)
During period 2003-2004 to 2007-2008 Export and import Trade ratio shows that India was net importer of Table-Tennis equipments ,Lawn Tennis and badminton rackets, Track and field’s equipments .During the same period India was a net exporter of Cricket balls, Hockey sticks, Cricket bats, Fish hooks and other line fish nets.
RECENT GOVERNMENT POLICIES FAVOURING SPORTS GOODS INDUSTRY
Global Scenario in the Sports Goods Industry
The Sports goods manufacturing industry is booming owing to the large scale viewership of sports and the overall sports industry reaching the dizzying heights of $ 500 million this year. Thus there are even more people who are keen to join this bandwagon and look at sport as not just a hobby but as a serious retail manufacturing business.
With the major sporting events marketed in a grandeur fashion coupled with the dire need for corporate brains to emulate the health is wealth concept, more individuals are purchasing sports goods there by promoting the global sports goods industry to elevated heights.
Online sales of sports goods is booming at 32% increase over the 12 months end of June 09. Thus selling on the net has many opportunities for sport brands, when many new retailers are entering the market on a regular basis.
An independent association called The World Federation of the Sporting Goods Industry (WFSGI) is formed by global manufacturers, retailers, suppliers, country specific federations and other sporting brands and goods related businesses. It is the world body for sporting goods industry and the IOC also recognizes it within its Olympic family. The WFSGI does not work for its own gain and is a non-profit organization helping the conglomerate of sporting bodies to work together.
The WFSGI helps the promotion of fair trade wherein more people are actively involved in sports both as a business and a career. The federation updates its members on important laws and regulations for product safety and improved working conditions. They represent the sporting goods industry and are like a liaison between the international organizations like the UN, WTO, etc and international sport organizations like the IOC, International Federations, etc.
Sports goods manufacturers
There are many renowned manufacturers like Adidas, Nike, Puma, Slazenger, Yonex etc that are internationally acclaimed and are the global leaders in sports goods manufacturers. We will take a look at the top 3 manufacturers,
Adidas (Herzogenaurach, Germany) is an international giant for manufacturing footwear, accessories and apparels. Adidas manufactured footwear includes football, basketball, running, golf, training, outdoor and cycling shoes for men and women. Among accessories, it manufactures footballs and shin guards, tennis wristbands and caps, workout and weekender bags. The apparels include jerseys, socks, shorts and training outfits. Its subsidiaries include Reebok, Rockport and the Golf brand TaylorMade.
Nike (Beaverton in Oregon) undertakes the distributing, marketing and designing of accessories, apparels and footwear on a global basis. Nike is a world leader in sports goods manufacturer with its subsidiaries like Umbro, Hurley International, Converse and Cole Hann designer.
Puma (Herzogenaurach, Germany) Puma is into cricket equipment manufacturing since an early stage and the big boys of Adidas and Nike have recently joined the band wagon. Puma also designs, distributes and makes sports equipment, apparels and accessories.
International Policies
Every country does its bit to ensure that the imports are low and the local manufacturers have a fair share of the markets in its domestic markets. We have given the policies of a few countries to help in this endeavour.
Brazil: The anti dumping law is a major roadblock to exploring the impending businesses forecasted due to the 2014 World Cup and the 2016 Olympics. According to this every product manufactured in China will have to pay an anti dumping charge to the Brazilian Government and this increases the price of product to be sold in Brazil. Thus local Brazilian manufactured products stand to gain from this and the international community is trying hard to revoke this anti-dumping policy.
Indonesia: To reduce the imports, every consignment of imports that enter Indonesia is subject to a stringent inspection and the cost of this is a burden to the importer. Thus the importation time increases and this encourages local manufacturers.
USA: The Obama Government has implemented a “Section 421” that imposes certain tariffs on tires imported from China and this is expected to hold fort against the textile and apparels also from China. Since US imports 97% of its apparels, this import tariffs on China has been done to try shifting the manufacturing industry from China to Central America.
China: Many countries take a safeguard against goods manufactured and imported from China by implementing various anti-dumping laws and thus protect their trade interests with China.
South Africa: Increase in the import tariff which was already high at 40% to 45% further increases the price of imported goods in the country but this has not seen any stark change in the increase in the profits of the local manufacturers. With the sporting events like the Football World Cup and the Cricket Champions League T20 these import tariffs have not been a deterrent and the local sales plunder downwards further.
Environmental factors to be considered
Recycled materials in development of sports goods: This can be achieved by using recycled materials in part with other materials.
Environmental conservation in development of sports goods: Products that should not harm the environment have a long shelf life and are easily disposable.
Energy conservation in development of sports goods: Provides the body with the right amount of heat and cold to maintain the body temperature.
Ecological friendly methods in development of sports goods: Products that do not degrade the environment during its manufacturing process and toxic substances should be emitted away from human inhabitation.
Reuse methodology in development of sports goods: Products that are retooled and can be reused or may be can be converted into a different product.
Challenges faced by the Sports Goods Industry
Some of the challenges faced by the Sports Goods Industry are as under:
Most of the industry is in tiny sector and the Production volumes are low
Low mechanization in the MSME(Micro, Small and Medium Enterprises) industry. The thrust is mainly on manual labour.
There is a dearth of research and development facilities
Lack of synergy and coordination amongst various manufacturers critical for Component Approach
Higher production cost due to low scale of production
Comparatively higher interest rates for loans
Insensitivity to customer needs/ poor channels of customer feedback and customer complaint redressal system.
Minimal expenditure on brand building, advertising
Lack of professional management
Lack of opportunities for sports goods manufacturers
Lack of Tax exemption, government support, inefficient transportation and distribution system has resulted in loss of customer and opening of many new exporting countries like China and South Korea.
Many of the importing countries are preferring Bio-Degradable goods and failure of Indian industries to come into this term has resulted in further loss of global market share.
Sports equipment does not include Gyms & health equipment, which are now very popular.
The power supply to most of the industrial units in major clusters of sports goods (Jalandhar, Meerut and Srinagar) is very erratic
Summary and Recommendations
The sports goods industry is a sector with vast potential to grow in the near future. The resilience of this industry was displayed for the world to see when it remained largely unaffected by the global economic recession in 2008. But an important obstacle to the growth of the Indian sports goods industry into an internationally competitive sector is its relatively small scale of operations (it is mainly confined to Jalandhar, Meerut, Srinagar and Delhi), as a result of which it is not able to cater to bulk demand.
Some recommendations to turn India into a world-class sports goods manufacturing hub are:
Setting up of sports manufacturing complex
Sports manufacturing clusters should be set up in Punjab, U.P and Jammu & Kashmir, where majority of sports goods are manufactured, with facilities like an information centre where all the latest information on raw materials, technology, specifications etc. is available; skill development centre for training workforce for various products being manufactured, etc.
Infrastructure:
Infrastructure at ports should be upgraded to meet international standards with quick off-loading and on-loading facilities. Also, the power supply at most of the industrial clusters is very erratic, with some units getting power only 3-4 days a week. To solve this problem, industrial units should be given power supply for at least 12 hours a day.
New product development
According to studies conducted by leading agencies, only 20-25 product groups are manufactured in India whereas over 100 product groups have been identified as sports equipment internationally. There is an urgent need for product diversification which can be met by establishing an R & D centre to conduct research on new products.
Raw materials
The sports goods industry faces many hurdles in obtaining several essential raw materials for manufacture of sports goods. For example, willow, which is used to manufacture cricket bats, is a type of wood which is available only in Jammu & Kashmir. However, the government has banned the movement of willow outside the state. Similar is the case with cane, which is available only in the Andaman & Nicobar Islands and the north-east. Such bans on the movements of essential raw materials should be removed.
Fiscal measures
Special incentives, for example, a tax holiday of 5 years, could be given to industries in this sector which adopt automated and modern methods for manufacturing.
Marketing and product promotion
Domestic
It is important to popularize Brand India domestically. International events which are held in India could be compulsorily required to use sports goods manufactured in India, which pass international specifications and standards. In fact, the Commonwealth Games, to be held in India in October, would be an ideal opportunity to enhance the image of Indian sports equipment and popularize Brand India. Another method could be to encourage the national sports channel, DD Sports, to air advertisements of national sports brands at concessional rates. Currently, most local brands cannot afford to promote their brands on TV.
International
Participation of small and medium Indian manufacturers at international sports fairs and exhibitions should be encouraged, with the Government subsidizing the cost of participation. Brand India should be promoted at these international fairs with publicity support from the Government. Also, the cost of obtaining international certification, which is necessary for Indian goods to be used in international tournaments, should also be borne by the Government.
Lean manufacturing techniques
A separate study on the sports goods sector should be commissioned by the government for studying the present production processes and suggest changes to improve productivity and minimize wastages and make the sector more cost-effective.
The total world trade in sports equipment, sports apparels, sports shoes, etc. is estimated to be around $80 billion. Of this, 70% is accounted for sports apparels and sports shoes, 5% for sports accessories and remaining 25% for sports equipments. This classification does not include gym equipment, which is now becoming very popular. In India, sports equipments alone are considered as sports goods and sports shoes and sports apparels are not considered as sports goods at all. All 4 categories of sports goods should be brought together on a common platform to project India’s capabilities in holistic manner.
 

Development of India’s Banking System

Introduction
With a population of over 1 billion, India is one of the most important countries with accelerating economic growth. According to the World Bank (2009), the annual GDP growth of India has been more than 7% over the past ten years.
The financial crises in 1997 and 2008 have revealed the importance of robust banking system towards economic development. Indian Government liberalized the banking system through Indian Banking Sector Reform in 1991.
From the first bank in India in 1786, the development of Indian Banking System has three distinct phases.

Early Phase (1786 – 1969)

There were 1100 small banks in India. The Government implemented the Banking Companies Act 1949 to facilitate the functioning of commercial banks. Reserve Bank of India (RBI) was authorized to supervise the Indian banking sector and became the Central Banking Authority.

Post Nationalization Period (1969 – 1991)

State Bank of India was formed to act as a principal agent of RBI and handle banking transactions in India. Fourteen major commercial banks were nationalized as there was a decline in public confidence during the early phase. Nationalization guaranteed the sustainability of banking industry and aroused public confidence.

Post-Liberalization Period (1991 – now)

Liberalization of banking practices occurred. Foreign banks, ATMs, phone banking, net banking were introduced to make the banking system more convenient and efficient.
The development of banking system is transiting. Public-Sector Banks contributes to 78% of total banking industry asset. Private-Sector Banks, on the other hand, are experiencing great progress in internet banking, ATMs and other technology advancements. They are likely to expand in India.
Central Bank – Reserve Bank of India
It was established in 1935 and was nationalized in 1949. It has 8 functions explained as follows:

Note Issuance: It has the sole right to issue bank notes of all denominations as an agent of the Government.
Government Banker: It acts as Government banker, agent and adviser. It controls the banking system through licensing, inspection and calling for information. It also supervises and controls commercial and cooperative banks.
Maintenance of Minimum Reserve Ratio: RBI set the cash reserve ratio is 5% and repo rate is 4.75 % in 2009.
Lender of Last Resort: It acts as the lender of last resort by providing rediscount facilities to scheduled banks.
Credit Controller: It controls the credit operations of banks quantitatively and qualitatively like open market operations, discount policies and reserve requirements.
Settlement of Clearing Functions: RBI facilitates the inter-bank clearing of current accounts in 1050 clearing houses in India.
Custodian of Foreign Reserves: RBI sets a limit on money transfer in and out of India under Foreign Exchange Management Act. It examines India’s reserve of international currencies and maintains the official rate of exchange with all member countries of International Monetary Fund.
Promotional Functions: RBI is responsible to extend banking facilities to rural and semi-urban areas, and establish and promote new specialized financing agencies.

Banking System – Banks in India
The Reserve Bank of India heads the Indian commercial banks. Banks in India can be categorized into three tiers – scheduled commercial banks; regional rural banks which operate in rural areas not covered by scheduled banks; and cooperative and special purpose rural banks.
There are approximately 98 scheduled commercial banks, both Indian and foreign, almost 200 regional rural banks, more than 350 central cooperative banks, 20 land development banks, and a number of agricultural credit societies.
Commercial Banks
Commercial banking is dominated by 28 state-owned banks controlling 69.9% of assets in the sector in 2007/08. Private domestic held 21.7% and foreign banks had the remaining 8.4%. Commercial banks can be categorized into domestic banks and foreign banks.
Domestic Banks
They include public-sector banks, private-sector banks and savings, mortgage and co-operative banks. The biggest domestic bank is a public-sector bank, State Bank of India with market share 16.83%. The second biggest domestic bank is a private-sector bank, ICICI Bank with market share 9.11%.

They have a country wide networks and each has its own geographic stronghold. They provide a full range of banking services and are an important source of short-term funds. State Bank of India is the largest bank providing 16.83$ of loan advances in 2007/08. In 2008, SBI merged its subsidiary, State Bank of Saurashtra, and is increasing its international presence.
The introduction of stringent capital-adequacy, income-recognition and asset-classification norms in economic reform promoted public-sector banks to reveal true positions in financial statements. The gap between strong and weak banks is thus widened.

There were 41 private-sector banks and 18 of them were listed on the stock exchange as of 2009. They usually have strong regional client bases and upgrade their technology and services.
ICICI, the largest private-sector bank, merged with Bank of Madura in 2001 and Shangli Bank in 2007. Life Insurance Corporation of India raised its stake in Corporation Bank to 27% from 12.32% in 2001. It is expected that more mergers and acquisitions will be found in the coming decade.

Savings, mortgages and co-operative banks

They are small and contribute slightly to the source of funds for most companies. They tend to finance rural and small sectors and have geographically-restricted operations. New RBI regulations have imposed restrictions on them in 2001 as some urban cooperative banks were discovered to have a high exposure to the stock market.
Foreign Banks
The biggest foreign bank is Citibank with market share 1.55%. Standard Chartered Bank ranked the second. Citibank, Standard Chartered Bank, HSBC and ABN Amro Bank dominate the sector in the diagram shown below.
Comparing the advances of foreign banks and that of commercial banks, it is shown that foreign banks play a small role in banking industry. They accounted for 8.4% of total commercial-bank assets in 2007/08. But the rising net profits of the banks to Rs66.12bn in 2007/08 from Rs45.85bn in 2006/07 suggested the increasing importance of this sector.
Foreign banks offer borrowing terms similar to local banks, but their benchmark prime lending rates are 1 to 3 percentage points higher. Foreign banks usually form part of a lending consortium.
Foreign banks without a branch presence can conduct business through representative offices. These banks concentrate on providing offshore currency loans and related foreign-exchange products, rather than retail banking or local-currency lending.
Investment Banks and Brokerages
Investment banks and brokerages rely on advisory business. They have a limited involvement in risk capital. They can weather the downturn without the risk of going out of business. However, if the downturn continues in 2010, some banks may leave the small Indian market.
Citi(US) and JM Financial Group have the greatest market share in this sector with their contribution of more than half deal value. Given the growth of Indian market, major foreign investment banks have reworked their partnerships with investment banks to help them to capture a greater market share.
Development Banks
Public-sector development banks were traditionally the principle source of long-term capital. Development banks provide medium and long-term rupee and foreign-currency financing, underwrite and subscribe to stocks and debentures. Due to the financial sector reform, they offer new services and products, set up organizations to provide a variety of financial services. Some countrywide development banks are Industrial Finance Corp of India and Industrial Investment Bank of India.
The Post Office Saving Bank
It has the largest retail-bank network, with over 155,000 branches. A growing number of post offices are also connected electronically. Given its large distribution network, India Post now leverages its presence to become a general financial-services distributor. It provides various mutual funds and bonds. It also offers an inward international money-transfer service.
Offshore Banks
Banks are allowed to set up overseas banking units within the country’s special economic zones functioning as overseas branches of domestic banks. Six domestic banks set up overseas banking units: Bank of Baroda, Canara Bank, ICICI Bank, Punjab National Bank, State Bank of India and Union Bank. Domestic banks can enjoy a tax deduction on the income from OBUs and advantages of global presence.

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Banks Deposit Composition
The deposits of national banks dominate the banking industry because they are backed up by the government and the public thus have confidence in nationalized banks. However, regional rural banks have a small share of deposits. It is mainly due to the lower income level in rural areas. Although foreign banks have a second smallest share of deposits, liberalization of the banking industry will allow them to expand their business.
Competitive Situation
More aggressive merger and acquisition are stemming in India. One advantages stemming from merger is the ability to cross-sell a slew of retail products including housing loans, car loans, personal finance and credit cards. Further, merged entity will be able to compete with threats from global players, for instance, HSBC and Citibank.
However, challenges of merger are the integration of financial and human resources, as well as satisfying statutory requirements. Also some FIs faced the problem of relying on an increasing cagey market to raise capital. As FIs were funding long-term projects with money rose short term, there was a critical asset-liability disparity. RBI then proposed to convert financial institutions into universal banks recently. A reverse merger with their own subsidiary banks will now give FIs access to low-cost funds.
The trend of mergers and acquisitions will prevail in the coming years.
Economic Conditions
Indian banks’ balance sheets are not directly exposed to sub-prime mortgage leading in US. The GDP and GDP per capital are expected to grow in the coming decade. The global financial crisis does not undermine the banking industry in India in a great extent. The assessment of the banking sector risk is rather low compared to that in Asia and Australasia in 2009.
The expansion of consumer credit does not pose a high risk to the banking industry as the level of debts per customer remains low. In contrast, RBI moved the focus of its policy from boosting economic growth to containing inflation. Interest rates are expected to rise and tighter monetary policy are expected to be implemented.
Conclusions
The liberalization of banking system has (1) strengthen the banking sector (2) provide more operational flexibility to banks (3) enhance the competitive efficiency of banks (4) strengthen the legal framework governing bank operations. This well-developed banking system is favourable when it comes to expansion in India.
However, a keen competition is found in India. Each sector has various existing banks with strong customer loyalty. Numerous state-owned banks and FIs are the dominant players in India.
Despite the stable Indian economy and the steady and slow movement towards liberalization of banking system, the Government will probably strengthen the financial regulatory system sufficiently before a complete liberalization. Therefore, it is concluded that India is not suitable for expansion.
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