Business   

Things can turn positive in 2011

CHENNAI: The low cost nature of the economy and the thrust given by almost all manufacturers to make it their global hub for production of small cars will keep India in good stead once the world gets over the current downturn.

Asserting that “we need to moderate our thought process,” Inder Chopra, President of the Automotive Component Manufacturers’ Association (ACMA), said investments might be delayed but the focus was very much on as almost all car makers were creating small car capacities in India.

Addressing a panel discussion on “Beyond the downturn” organised by the Chennai Chapter of IIMC (Indian Institute of Management, Calcutta) alumni association here, Mr. Chopra felt that things could turn positive in 2011.

K. Ganesh, founder and CEO of TutorVista, felt that a start-up outfit could quickly re-jig its business plan in a downturn, since it carried no legacy. He, however, said that start-ups could run out of cash and be hit hard during the downturn. In this context, he pointed to a local retail discount store, which ran into huge debt as it chased growth.

R. D. Thulasiraj, Executive Director of LAICO, said the bottom of the pyramid, which comprised half the Indian population, offered huge opportunities.

K. N. Subramaniam of Anand Automotive Systems asked companies to look at operational efficiencies all the time.

Shyam Srinivasan, Country Head, Consumer Banking, Standard Chartered Bank, said the planning horizon was getting shorter these days. In this context, he advocated a policy of “thinking short and thinking small.”

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Largest Indian corporate merger
Exports dip for fourth consecutive month
Sensex plunges 285 points
Satyam withdraws variable pay
SCSL loses LIC contract
Things can turn positive in 2011
Auto sector posts record sales in February
Exchange Rates
Bullion Rates
SBI raises FCNR (B) and NRE rates
Punjab & Sind Bank pact with Maruti
SBI Life launches Smart ULIP
Piramal Health acquires Minrad International
Jain Irrigation’s preferential allotment to IFC
Rane Brake to allot shares to collaborator

Copyright © 2009, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu