Word: delhi
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...ties between the two countries, about the free trade agreement they hope to sign and about the fact that 2006 is "India-China Friendship Year." But what you won't hear as much about this week, at least not officially, are the tensions that remain between Beijing and New Delhi...
...Glance through the business news these days and it quickly becomes apparent Chandrasekhar is right. As international business leaders prepare to arrive in New Delhi for the World Economic Forum's annual India Economic Summit, India is ending decades of isolation. Indian companies have returned to global commerce. Indian-born business executives are climbing the corporate ladders at well-known multinationals, some to the highest rungs. Meanwhile, Indian companies, flush with cash from a booming domestic economy, are prowling for overseas acquisitions to expand their footprints. The most recent headline grabber was last month's $8.1 billion bid by Tata...
...Delhi also helped clear the way for the recent buying spree. Last year, the government doubled the cap on how much Indian companies can annually invest abroad to 200% of a company's net worth. Thanks to the boom at home?India's GDP growth has averaged 8% a year over the past three years?many companies are financially stronger than ever before. Net profits are up nearly 40% this year, according to a recent report from Motilal Oswal Securities, which surveyed 127 publicly traded companies from various sectors. Besides having deep pockets, many Indian companies have been around...
...former president of New Delhi's Foreign Correspondents' Club liked to startle newly arrived American and British journalists by telling them to begin work on their big India book at once. If they protested that they had just landed and would need at least a year to write a book, he insisted that they had got it exactly wrong. "The first day in India," he would say, "every foreigner is convinced he can write a book about it. After a year of living here, he realizes he can't write a meaningful sentence about...
...coming months, however. Reliance Industries Limited, India's biggest conglomerate with interests in everything from oil refining to mobile phones, plans to open more than 2,000 supermarkets in the next two years. The company opened its first 11 stores in Hyderabad earlier this month and its first Delhi shops will open in a few weeks. These will be a lot smaller than a typical U.S. or European supermarket - no bigger in most cases than a large convenience store, although Reliance promises that much bigger supermarkets are in the pipeline. All will be clean, air-conditioned and have stock neatly...