The investment flight: More money going out, lesser coming in
Mumbai Months after HDFC Chairman Deepak Parekh said Indias aura was fading, with domestic companies increasingly realising its easier to do business outside, there are numbers to support this flight of investment Indian companies are investing more abroad than whats coming in as investment from abroad.Figures available with the Reserve Bank of India reveal that foreign direct investments (FDI) by Indian companies abroad soared by 144 per cent to $43.92 billion in 2010-11, from $17.98 billion the previous year. On the other hand, FDI by foreign companies in India plummeted by 62.23 per cent to $7.1 billion in 2010-11, from $18.8 billion in the same period of the previous year. This means Indian companies sent across six times more money than what the country received as actual FDI in projects.
In an interview to The Indian Express Editor-in-Chief Shekhar Gupta for NDTVs Walk the Talk programme in December last year, Parekh had said that an environment of negativity gripping the country had taken the wind out of the sails of Indias ambitious growth story and that the big boys of industry were taking their investments abroad. The UPA government needed to work as a team and get back on track, he had urged.
Analysts agree with that sentiment. India Inc may be finding it difficult to set up units in India because of the multiplicity of approvals, delay in the whole process, the Centre-state equation, land and environment matters and a host of other problems, they say.
The cause of concern that the recent numbers generate is not trivial as rising domestic competition amid bottlenecks in the form of lack of policy, especially land acquisition, the series of corruption scandals, unrelenting inflation and rising domestic interest rates are propelling not only the domestic companies to invest abroad but also deterring foreign companies from investing in India, says Dr Arun Singh, Senior Economist, Dun & Bradstreet.
Given the sharp rise in the quantum of FDI by India Inc abroad, many top groups also earn more than half their revenues from foreign markets. For instance, the Tata Group earned more than a third of its $70-billion revenue in 2009-10 from its overseas operations.
It was 61 per cent the year before that. After the acquisition of Novelis, Hindalco of Aditya Birla group earns 70 per cent of its revenue overseas. Bharti is getting there.
Aura Group Of Companies - News
Mumbai Months after HDFC Chairman Deepak Parekh said India's aura was fading, with domestic companies increasingly realising it's easier to do business outside, there are numbers to support this flight of investment — Indian companies are investing
Meanwhile, Espial Group and March Networks are both exploring “strategic alternatives” that could lead to the companies being sold. There are new high-profile entries this year, including medical isotope maker Nordion Inc. – which moved its
But for all the aura surrounding the super-luxury auto segment, there is one thing its customers share with their aam aadmi brethren. “Everyone tries to bargain… this is India, after all!” says one of the marketing executives, chuckling.
That includes a trio of new products for 2011; aviator styles Bravo and Freestyle, and the new Aura, a one-piece suspended lens in an open frame design. "I really enjoy working with Sundog on the design of my collection," she said in a press release.
And to make sure that people know it, he and his colleagues at SRI, along with local robotics companies such as Adept Technology and Willow Garage, have formed a group called Silicon Valley Robotics (SVR). The goal of SVR is to "nurture the robotics
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The Aura Group is a full-service interactive advertising agency almost exclusively creating Flash-based web advertising solutions from custom web sites to banner ads to video streaming and more. With Zetta’s cloud storage solution , The Aura Group can continuously and affordably maintain its client files and other vital business data without the hassle or investment of on-site storage.
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