Hopes that the Indian retail sector may be opened any further have been dented. The government have announced that the interests of small traders will be protected as the industry is the second largest employer after agriculture. (more…)

Moody’s reports that India will remain a top outsourcing destination.

Although India’s outsourcing industry has slowed with the global recession, Moody’s reports that India will remain a top outsourcing destination.

With a highly educated English speaking workforce and lower wages, India is still expected to perform well when the world ecomomy picks up.

Navyroof.com’s Managing Director, Andrew Fassnidge will be discussing Indian opportunities as part of the Indian panel at this weeks International Trade forum in London.

Grasp The Global Opportunity, Addington Palace, Croydon - December 18th 2008

This includes trade show, discussions, networking and luncheon.

Morning market updates and seminars hosted by the China-Britain Business Council and The UK India Business Council, South Africa update and seminar hosted by Brian Gallagher FRSA British Trade Commissioner, UK Trade & Investment featuring Shakeel Mughal, High Growth Market Specialist UK Trade & Investment and Michael Hodges representing IFSL. Q&A session hosted by Roy Chegwin, Editor of International Trade Focus featuring Phil Morrison, CEO of Freightnet precedes 3 course Christmas luncheon.

Keynote address by Gareth Thomas MP, Minister for Trade, Investment & Consumer Affairs.

For more information and tickets please visit www.marchpublishing.co.uk

India: Inspiring Business Opportunities Conference

Navyroof.com’s Managing Director, Andrew Fassnidge was invited by the London Chamber Of Commerce to present at the India-Inspiring Business Opportunities conference held in London.

Andrew along with other keynote speakers including Richard Perry (Head of business Services, UK India Business Council), Anjalika Bardalai (Editor, The Economist Intelligence Unit), David Stringer-Lamarre (Director, Morley College), Devyani Vaishampayan (Principal, Global HR Consulting), Babu Datta (MD, Evolve Creative Limited) and Amit Chanda (Risk Advisory Group) discussed the immense opportunities for UK businesses in India.

It was very encouraging to see the unwavering enthusiasm for doing business in India just a week after the Mumbai attacks. The overriding common thread throughout the conference was that India has a bright and growing future for UK business.

Anjalika Bardalai of The Economist Intelligence Unit predicted that India will be affected by the the global downturn in the short to medium term but will come out of with strong GDP growth and resume its upward growth curve in two years with “real GDP growth forecasted to accelerate somewhat to 7.1% in 2010/2011″.

Indian GDP growth - The Economist Intelligence Unit

Anjalika also noted, “although growth is slowing the point to emphasise is that this is still an extraordinary performance not only when compared to any other major economy in the world today, but also by India’s own historical standards.”

Real estate feeling effects but will recover

Andrew Fassnidge of Navyroof.com, similarly presented that the real estate market was feeling the effects of the credit crunch but that it will recover more rapidly after FY09-10. Reduced foreign direct investment (FDI) inflows have taken its toll on developers, as banks are often unwilling to lend which has led to many being faced to liquidate at reduced prices. He predicted that the downturn in the mid to low end of the Indian property market will not be protracted for the following reasons:

– Very strong demand

- Favourable demographics

– Low mortgage penetration – mortgage to GDP ratio only 8%

– GDP growth forecasted to average 8% until 2020

– Declining interest rates

- Inflation decreasing

– Rising long term employment

– Growing middle class

– Ongoing infrastructure demand

– Cheaper raw materials will reduce building costs from current levels

All of these factors combined illustrate the sustainability of the Indian property market in the medium to long term. Ultimately it will be many years before end user demand is even close to being met so India should recover well in this respect. He noted however, the high and luxury end of the market will be slower to recover and develop, as affordability and demand are not as high in this segment.

Tourism – A big opportunity

Andrew, also highlighted many areas he felt offered opportunities for UK companies. He highlighted the tourism sector as one to note, with 100% FDI permitted by foreign investors and a severe shortage of good quality hotels and accommodation. Increased spending on infrastructure and development will boost both business and tourism in India and this sector offers excellent opportunities for foreign investors. Many joint venture opportunities with Indian developers can be taken advantage of and are possibly the best route to enter India initially.

Overall the conference only touched the surface of the immense opportunity that is India. Navyroof.com look forward to paticipating at similar future events and would like to thank the London Chamber of Commerce for inviting us to contribute to such a successful event.