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Australia keen to put more resources to India
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| 02. NEWSMAKER |
Australian banks may send more work to India |
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The economic slowdown is expected to prompt Australian financial services industry to ramp up their IT off-shoring efforts.According to a latest Forrester report, while off-shoring has been popular among Australian banks, the current financial crisis will offer firms an opportunity to take their offshore sourcing strategy to the next level. At present, Commonwealth Bank of Australia, ANZ, National Australia Bank, Westpac and AMP are among the financial service providers, who have outsourced or off-shored IT and BPO work to Indian IT firms and in some cases have their own captive facilities.
“Offshoring is no longer a dirty word in the Australian market. In fact, many organizations are demanding an off-shoring option with in their IT services requests for proposals (RFPs), and others are short-listing only those providers that can offer the majority of the services using global delivery resources,” Forrester said.Now, those financial service firms are becoming even more enamoured with off-shoring as their cope with slowdown in the economy.
Most companies would see flat IT budgets through 2009 and for some it will actually fall. Added to the over all budget issue is the huge depreciation in the Australian dollar over the past six months, which will cause most financial service firms to experience significant increase in the costs of hardware, software, support, and some IT services capabilities in 2009.
Source: Business Line |
New Indian Consul General takes charge in Sydney
Mr. Amit Dasgupta has assumed charge as India’s Consul General in Sydney on February 23, 2009. He succeeds Mr. Sujan R. Chinoy. Prior to his new assignment, Mr. Dasgupta, headed the Public Diplomacy division in the Ministry of External Affairs, New Delhi. Earlier, he served in Indian Missions in Cairo, Brussels and Berlin. He also had a stint as Director, Economic and Head of the office of the Secretary General of the South Asian Association for Regional Co-operation (SAARC).
The Chamber works closely with the Consulate General in Sydney in adding value to Indo-Australian trade relations and we wish the new Consul General all success in his new assignment.
Source: Indo - Australian Business Talk
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Cartridge World to open 250 stores in the sub-continent by 2010
Senior Trade Commissioner, Mr. Peter Linford’s reference to Cartridge World in the Austrade seminars on “Winning Business in India and South Asia” has sharply brought the company to media limelight.
Cartridge World is now on a scorching pace of growth in India and plans to open 250 stores by 2010, according to Mr. Naveen Rakhecha, the company’s Chief Executive Officer, South Asia. Mr. Rakhecha observed that the demand for cartridges has gone up to 30 million at present in the Indian market and it is estimated to grow at 20 to 25 per cent per annum. Mr. Rakhecha said that Cartridge World hope to catch 7 to 8 per cent share of the market by 2010.
Source: Indo - Australian Business Talk |
Nano enhances India as small car hub, says Crisil
 The launch of Tata Nano, the world's cheapest car, enhances India's position as a small car manufacturing hub and can potentially expand the domestic car market. Nevertheless, scaling up challenges is expected to be humungous, said Crisil Research.
With the on-road price to the customer estimated at Rs 1.2 lakh (approximately $2,300), the Tata Nano will enhance India's position as a highly cost competitive manufacturing hub for small cars. Alternative low cost car models launched worldwide in the past two years have been priced at least 50% higher than the price of the Nano, it said.
According to Crisil Research estimates, the new price point reduces the cost of ownership of an entry level car in India by 30% and to below 3 times the cost of owning a motorcycle. This will make the car affordable to an additional 14 million families, including a section of the 58 million two wheeler owners.
Source: The Financial Express
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Mukesh Ambani ranked richest Indian
 Mukesh Ambani, Chairman of Reliance Industries Ltd was ranked by Forbes magazine as the seventh richest person in the world with a total wealth of $19.5 billion. He was closely followed by NRI Steel tycoon, Mr. Lakshmi Mittal who finished at the eighth spot with a total wealth of $19.3 billion. However the wealth of both of them has shrunk considerably due to the global economic turndown and the steep fall in Indian stock market. Anil Ambani with a wealth of $10.1 billion was the third richest Indian, followed by Sunil Mittal ($7.7 billion), Azim Premji ($5.7 billion), Shashi and Ravi Ruia ($5.6 billion) and KP Singh ($5 billion). The number of Indian billionaires has come down from 53 to 24 and the number of Indian’s in the top 10 richest persons has fallen from four to two.
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Workshop on “Cost Effective Packaging for Successful Exports”
Tough times can often create opportunities for reducing cost, avoiding wastage and improving performances. Packaging solutions and freight movements are quite often the best opportunities for cost effectiveness. By innovating new ideas, by making use of recent technologies, and by optimizing the usage of packaging materials and better methods of logistics and container movements, many companies have overcome economic downturns effectively. The Workshop will help you to look at many of these options and put your company back on track even in difficult times.
The Chamber’s annual Workshop on Packaging and Forwarding has always received wide participation and many of the participants have returned to the seminars in the subsequent years.
The Workshop will address issues like:
- How to optimize packaging and freight expenses to avoid wastage by effective cost containment strategies?
- How to design a cost effective packaging from products from different industries? – Engineering, food, chemicals, and a variety of consumer products.
- What are the latest technologies in packaging, labeling and product identification?
- What are the different packaging, labeling and quarantine regulations in different countries?
- Effective use of multi model transportation / airfreight / air cargo consolidation and bulk packages.
- How to make effective use of containerization?
- Effective use of alternative packaging materials, which will not require compliance under the recent legislation ISPM15.
Dr. H.B.N. Murthy, the internationally known authority on packaging and a Fellow of Food and Agriculture Organisation, Rome (a UN Agency), will make the lead presentation.
Registration Fee Rs. 1250/- for members of IACC and Rs. 1,500/- for non-members. For nomination form and registration, please visit: www.indoaustchamber.com |
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