Xed CA Marketing Newsletter July 26- Aug 01

7/31/2019 Xed CA Marketing Newsletter July 26- Aug 01

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NEWSLETTER

5 Pages 26th July 2012 01st August 2012 www.xedintellect.co

BUSINESS NEWS

ECONOMIC INDICATORS 2 COVER STORY 3 PERSONALITIES OF THE WEEK 4

CORPORATE INTELLIGENCE 5 NEWS ANALYSIS 6 NEO CORNER 11 MKTG NEWS

NEWS DIGEST

IN BRIEF

PERSONALITIES OF

THE WEEK

CORPORATE INTELLIGE

Rs Vs. Dollar

(31st July)

Brent Crude

(1st Aug)

ECONOMICINDICATOR

RBIs SLR cut may forcebanks to lower the loan

rates

COVER STORY

Nimbuzz: Gettingpersonal with marketing

GLOBAL & MISC NEWS

Great Britain likely to fallin to Triple-Dip Recession

by next year

RajivBajaj

a weekly Marketing news bulle

IINNDDIIAASS PPOOWWEERRWWOOEESS

MARKETING NEWS

Join us on Facebook

PART TWO

SharaPawa
http://www.facebook.com/pages/Xed-News/129116230504612


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Rs Vs. Dollar 55.64 (31st July) Source: BSThe value of the national currency can be a somewhat effective tool to gauge the international outlook on a countryseconomy. As a rule of thumb, the cheaper the currency the better for exporters. It is the other way round for

importers. However too cheap and you end up with a meaningless currency that is just so much paper.The Indian rupee has been having a tough time this past month. At the end of July 31st, the rupee continued to showweakness as the RBI didnt budge from its hard stance and left key interest rates unchanged. With l oweringinternational investor confidence, the rupee is not out of the woods yet. With global economic uncertainty on the rise,the outlook for the rupee depends on global risk perception. The paralyzing power cuts arent exactly filling investorswith confidence either!

Brent Crude - $ 104.41 (1st Aug) Source: ReutersCrude Oil can easily be considered the lubricant that ensures the gears of the global economy dont grind to a halt.Therefore the prices of Crude oil influence economic outlooks to a very large extent. For India considering that themajority of our imports consist of crude oil, tracking crude prices is a good way to understand what lies ahead for theIndian economy as indirectly it influences inflation and is also related to the value of the rupee as a cheaper rupeemakes buying crude all the more expensive.

The US & China are top oil consumers and thus how their economies are doing influences crude oil prices. The latest

data shows that manufacturing outlook in China is down (Chinas Purchasing managers index went to 50.1 which isbelow expectations). The US is already in a slump and there were expectations of a stimulus package, but asconsumer confidence rises in the US, the chances of that happening have also dropped. As a result, Crude oil pricessaw a marginal drop. How much the global economy slows down will decide how far crude prices will in turn, drop.

n India, business confidence declined to 134.9 in April of 2012 from 145.2 in January of 2011. In India, the NCAER(National Council of Applied Economic Research) - MasterCard Worldwide Index of Business Confidence measuresthe level of optimism that people who run companies have about the performance of the economy and how they

feel about their organizations prospects.

The survey incorporates four indicators:

overall economic conditions sixmonths from now, financialposition of firms six months fromnow, investment climate andcapacity utilization level. The data iscollected through personal interviewsand questionnaires sent to a diverserange of businesses across variousregions in India.Historically, from 1995until 2012, India Business Confidenceaveraged 129.2900 reaching an all timehigh of 162.1000 in October of 2010and a record low of 68.3000 in June of1998.

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In the heart of darkness: India witnessed a power outage on 30 July 2012 in northern India followed byanother on 31 July due to northern and eastern power grid failures. The collapse threw almost twenty states insudden darkness. It disrupted metro and train services, threw water distribution network out of order and chokedroads due to dysfunctional traffic lights. For some time, the country came to a standstill as most of the Indianscommonly shared a problem that is by and large taken to be the prerogative of the poor.

hat leads to a grid failure? The blackout may have occurred due to a host of reasons. Coashortages on the grid and excessive drawing of electricity by some statesmay have increased the load on power grids. The delayed monsoon kept

the hydroelectric generation low, further exacerbating the problem. Hydro-power accounts for about 20 per cent of installed power capacity but reservoirs haveonly 24 per cent of the water they can hold. It is just about half of what they carried atthis time last year. Farmers relying more on water pumps to irrigate their fields in theabsence of rains have further led to increased electricity consumption.

India's power shortage: Those who are trying to find an immediate solution toaddress the power issue are either fooling themselves or trying to save face. Thereality is that the malaise afflicting the power sector runs very deep. In simple terms,the power sector has just not kept pace with a fast growing economy. Between 1980and 1990, Indias power generating capacity grew by 124 per cent, however in thesubsequent decades it has grown by 58 per cent and 75 per cent respectively. The pace of capacity addition wasparticularly slow in the 1990s, a decade in which policy planners somewhat wishfully assumed that the private sectorwould step in to add a large chunk of capacity, but even the pick-up in recent years has been far from adequate. Inthe 11th Plan period (2007-12), for instance, the targeted capacity addition was 78,700 MW. What was actually

achieved was closer to 50,000 MW, a shortfall of about 36 per cent.

hy has power generation not gone up proportionately? Our state electricity boards(SEBs) are reeling under a combined debt of around Rs 2 lakh crore. They are finding it hard to keepthemselves running, leave alone investing in capacity creation. The financial mess of these SEBs is aresult of government populism which forces them to offer free or near free electricity to farmers and some

sections of the society. Offering free electricity often features as the most basic giveaway by political parties in theirpoll promises which makes matters worse for SEBs.

In theory, state electricity regulators have the right to fix tariffs on a rational basisand without any political influence. However, it is common knowledge that stategovernments finally have their way by appointing their own regulators. The changingpattern of consumption has further deteriorated the situation. While in the 1980s,commercial and industrial consumers accounted for 66 per cent of total consumption,

the numbers declined to 48 per cent by the end of 2000s. During the same periodthe share of domestic consumers increased from 11 to 21 per cent. Given the factthat tariff for commercial and industrial consumers is much higher than for domesticconsumers, the SEBs further went into financial abyss. The farm sectors share inpower consumption rose from 17.6 per cent in 1980-81 to 31.4 per cent in 1998-99

and came down to 21 per cent by the end of 2000s. This suggests that even though the government has made powercheap or free for the sector, farmers are not benefitting much due to erratic supply.

Even though we have serious dearth of power and immediately require capacity creation, the existing power situationcould have been significantly better were it not for two major factors. First is called transmission and distribution(T&D) losses. Simply, it means theft of electricity. Since somebody has to pay for that power, legitimate consumersend up doing so by way of tariffs calculated using the T&D losses as a given. Second is called plant load factor (PLF).If a plant has an installed capacity of 2 lakh MW and the PLF is increased by 10%, it would result in the generation of20,000 MW of more power. But the sorry state of affairs of SEBs ensures

that they cant invest even this much in their plant equipment. So at theend, SEBs are left with the option of drawing more power from the grid;and when everybody plays the same game, blackouts like these is theobvious result.

The road ahead:Experts believe if India is to grow at 8 per cent, thepower sector needs to grow at 6.5 to 7 per cent. Government mustintroduce competition in the generation, transmission and distribution ofelectricity to enhance productivity. Abolition of 1973 Act which nationalizedcoal mining may pave way for efficient miners to scout for coal. Anindependent watchdog which can withstand political pressure and overseeefficient distribution of power is highly required. And more importantly, electricity must let not be held hostage topopulist tendencies. Instead of gifting it away, one should make people earn it.

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Rajiv Bajaj Managing Director, Bajaj AutoBajaj Auto in the past six decades has witnessed a constant upward evolution which is second tonone; through four generations of leaders. The Managing Director of the worlds third largestmotorcycle manufacturer is surely taking his family legacy ahead. His great grandfather JamnalaBajaj founded the Bajaj Group; his grandfather initially started the business of selling importedmotorcycles in India & then moved on to manufacturing them; his father gave India its first & mostreliable scooter - Chetak & created the Hamara Bajaj brand; and now, the fourth gene rationleader Rajiv Bajaj gave the Indian youth their first powerful yet affordable bike Pulsar, in the

era that was dominated by small & fuel efficient bikes, thus completely transforming thecompanys image from being a reliable scooter maker to powerful bike maker.

Getting over with Hamara Bajaj!!! Rajiv Bajaj holds a bachelors degree in Mechanicaengineering from the University of Pune and masters in Manufacturing Systems Engineering fromWarwick University, UK. Soon after he finished his masters he joined Bajaj Auto in 1990 andworked in the manufacturing & supply chain department for five years. He then moved to the R&Ddepartment where he oversaw the development of new bikes. Under his stewardship Bajaj built thepremium bike Pulsar which was launched in 2001. He headed the Marketing & Sales department ofBajaj in 2000-2005 and was the man behind the extensive marketing of Pulsar which instantlybecame a hit amongst the youth. He was elevated to the position of MD in 2005.

Trouble in Paradise!!! In 2008, Bajaj was in trouble with failures like Caliber, XCD & Wind. Hisfather & Bajaj Auto chairman wanted the company to go back to its comfort zone and startproducing scooters again. But he was firm on his stand to remain in the bike segment and

designed a turnaround strategy that brought back the company to its numero uno position.Today Bajaj is Indias second largest bike manufacturer and a market leader in the premiumsegment of bikes with a 48% percent market share. The young leader, who heads the companythat came up with the DTSi technology, always believed that innovation comes from within & thatacquired technology does not work in the long term. Like his fore-fathers he is also a visionary whohas seen opportunities no one else noticed and leveraged them. The Bajaj scion has now biggerdreams - to increase the brand presence of Bajaj across the world and ultimately achieve hisfathers dream - to make Bajaj Auto one of the finest motorcycle manufacturers in the world.

Sharad Pawar Minister of Agriculture, Government of IndiaIndian farmers are really worried. They have been badly hit by inadequate rainfall in the past twomonths making their future uncertain. If the drought like situation occurs, many would resolve tocommit suicide. Their minister - Sharad Pawar, who has hinted at a relief package for thedistraught farmers, however is more worried about other issues. The reasons that have caused

discomfort to the agriculture minister are Pranab Mukherjees selection as President of Indiarising status of Rahul Gandhi in Indian National Congress, his declining power in the Cabinet & hewas not a part of the committee that elected the President and finally his enemy - Sushil KumarShindes possible appointment as the Home Minister & leader of Lok Sabha.

Pawar who is known to be a workaholic, abandoned cabinet meetings to protest the ongoing scufflein the cabinet. He demanded that being a senior politician he should be given number two positionin the cabinet and NCP should be involved in the decision making process for the nomineesselection for Prime Minister & President post. The Indian National Congress could not deny theinfluence this warlord from Baramati has on politicians and the repercussions of ignoring hisdemands. They finally selected him as head of the non-Congress partners in the UPA.

Biography in Brief... Pawar was born in Baramati, Maharashtra and he completed his graduationfrom BMCC in Pune. Soon after finishing college he entered politics and joined the undivided

Congress Party. After a brief stint, he left the party to form a coalition with Janata Sangh andbecame the Chief Minister of Maharashtra in 1978. Since then Pawar has been appointed as the CMof Maharashtra four times. He has served as the Minister of Defence, Chairman of the Board ofControl for Cricket in India (BCCI) and as the President of International Cricket Council (ICC). Hewas amongst the candidates considered for nomination of Prime Minister in 1991 but the posultimately went to P.V. Narasimha Rao. He is the founder & current President of NationalistCongress Party (NCP) & joined the UPA government in 2004 to become the Agriculture Minister.

Corruption, Scandals & much more... Pawar has been accused in the past of corruption &aiding criminals. He has also been allegedly involved in stamp paper & land allotment scams. Hehas been in the limelight for controversies like IPLs exemption from tax, assets declaration,Lavasa & hike in the prices of agricultural produce. The agriculture minister is also known for hisinfamous quote wherein he stated the rate of farmer suicides in India is a normal thing.

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In my view,

the word that

Honda owns

is Quality,

Hero owns is

Mileage,

Bajaj owns is

Power,

Yamaha ownsis Style, & TVS

owns is

Cheap (not in

a bad sense)

but as in least

expensive.

With the

monsoon

playing hide

and seek, it is

a challenge

for our

farmers and

scientists to

maintain the

food-grain

output

achieved in

the last two

years


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BAKED FOOD INDUSTRY: According to a report by Research and Markets, the Indian baked goods industry ranksthird in the processed food sector with market size of around Rs. 27,500 cr. It also mentions that the shining star othe sector remains the biscuits industry. Within biscuits, 3-4 large-sized players viz. Britannia, Parle, ITC, Cadburyscomprise three-fourths of the market & the rest is covered by breads & cakes. The ratio of organized & unorganizedsector in biscuit industry is 65:35.

Britannia Industries Limited (Biscuits, Dairy Products, Ready to cook food)

Overview: Britannia has a vast repertoire of products serving both mass & premium segments. It has continuously

innovated with its products according to changing customers needs. Britannia entered the dairy products market byforming a joint venture with New Zealands Fonterra which is the worlds second largest dairy firm. Today, its not onlya leading name in the biscuit industry but also growing rapidly in the dairy industry & ready to cook food segment.

Strong Brand Presence: Britannias ad campaigns have been very successful & effective; its famous campaignsinclude Britannia khao world cup jao & Subah nai, nai hai shuruwaat. Its glucose biscuit Tiger for the massmarket is very popular & competes with Parle G which is the largest selling biscuit in India. Today it has a strongerbrand presence than its competitors such as Parle G, Amul, Nestle & ITC, in certain categories.

BEVERAGE INDUSTRY: The Indian non-alcoholic drinks market was estimated at around Rs. 33,000 cr. There arenumerous factors driving the growth of non-alcoholic drinks market in India like increasing disposable incomes andurbanization. Aerated & fruit juices are the fastest growing segments in the beverage industry followed by energydrinks.

PepsiCo India (Pepsi & other aerated drinks, Energy drinks-Gatorade, Fruit Juices-Tropicana,Snack Food-Frito lays, Quaker Oat)

Overview: PepsiCo was formed in 1965 with the merger of the Pepsi-Cola Company and Frito-Lay, PepsiCo has sincethen expanded from its namesake product Pepsi to a broader range of food and beverage brands, the largest of whichinclude the acquisition of Tropicana in 1998 and a merger with Quaker Oats in 2001which added the Gatorade brandto its portfolio.

Game Changer: PepsiCo India which is part of PepsiCos Asia, Middle East & Africa division which contributed 11%total to global revenues, showcased double digit revenue growth in the most recent quarter. PepsiCo entered India in

1989 and has grown to become one of the largest food and beverage businesses in India. With an investment of overRs. 5500 cr, PepsiCo India has built an expansive beverage and snack food business. Interestingly the snack businessis more profitable than beverages. In India, it is competing with Coca-Cola in aerated beverage market, ITC in snacksegment & Dabur in fruit juice market. In 2009, PepsiCo India achieved a significant milestone, by becoming the firstbusiness to achieve Positive Water Balance in the beverage world.

DAIRY INDUSTRY: According to ASSOCHAM,India is the largest producer of milk in the world & is expected totouch Rs. 5 lakh crore by 2015, with milk output pegged at 190 million tonnes at the end of the period. It is growingat a rate of 10% & accounts for 20% of global milk production. Biggest entry barriers are poor infrastructure &fluctuating milk prices. The private sector can play a pivotal role in reducing the cost of milk production by employingadvanced techniques to enhance productivity, providing breeding facilities for cattle and by developing processing andmarketing infrastructure.

Amul (Milk & milk products, Dairy Whiteners, Ice-cream & confectionaries)

Overview: Amul is an acronym of Anand milk union limited; it is a brand name managed by Gujarat Cooperative MilkMarketing Federation ltd. Amul is the largest food brand in India and world's largest pouched milk brand.

Taste of India: The Amul Model of dairy development is a three-tiered structure with the dairy cooperative societiesat the village level federated under a milk union at the district level and a federation of member unions at the statelevel. It established a direct linkage between milk producers & consumers by eliminating middlemen. Amul has a verygood brand presence & is popular for its witty ads. With the increasing demand for dairy products Amul has braceditself & is competing both domestically & globally with brands such as Britannia & Nestle.

Founded: 1892 Key people: Nusli Wadia (Chairman), Vinita Bali (MD) Revenues: Rs. 5,553 cr

Key people:Praveen Someshwar (CEO, India Foods), Gautham Mukkavilli (CEO, India Bev.) Revenues: Rs. 4,015cr (FY11)

Founded: 1946 Key people: P G Bhatol (Chairman), Dr Verghese Kurien (Founder) Revenues: Rs. 12,000 cr

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1) Indian Government rejects ZARA brands proposal to launch Massimo in India Reuters/ETIMPACT:The Foreign Investment Promotion Board (FIPB) has rejected ZARA Holdings proposal to launch the highend Massimo Dutti brand in India. Inditex S.A., a Spanish fashion group, owns both the ZARA & Massimo Dutti. ZaraHoldings plans to launch Massimo apparel brand in a 51% joint venture with Tatas retail subsidiary Trent Ltd whichoperates the Westside apparel chain in India. Although FIPB has not given any specific reasons,it is speculated that the FDI policy clause which states that the foreign investor must own thebrand it proposes to retail has created a roadblock for Inditex. ZARA a wholly ownedsubsidiary of Inditex, wants to launch its parent groups subsidiary Massimo. The Departmentof Industrial Policy and Promotion (DIPP) is now considering making changes in the FDI policy.

The department understands that many large conglomerates operate in this manner and thusIndia may lose out on investments if it does not change the direct ownership clause.

KEY PLAYERS:ZARA, FIBB, DIPP, IKEA

WHY IT IS IMPORTANT? Many foreign investors have raised the issue of lack of clarity in theFDI policy. India in November 2011 allowed 100% FDI in single brand retail with a clause ofcompulsory sourcing of 30% of raw materials from Indian MSMEs. Swedish furniture makerIKEA, who wants to invest up to $1.5 billion euro in India, recently, asked officials to relax thesourcing norm. India wants to attract more investments but foreign investors are making demands that thegovernment cannot fulfill without hampering domestic small scale industries.

2) Yamaha Motors to sell Indian made deluxe bikes in Japan ET/BSIMPACT: The Indian subsidiary of Japanese motorcycle giant - Yamaha Motors will export superbikes like R15 & FZ

manufactured in India back to Japan. Yamaha, which had set up its first manufacturing facility in India in mid 90s,will first launch the R15 and then FZ in Japan. The 150 cc superbike R15 which costs around Rs. 1.15 lakh in India willbe sold at around Rs. 2.45 lakh in Japan. If the response is good it shall take these superbikes to European countrieslike Spain & Portugal and to Eurasian country Turkey. Yamaha has joined the likes of Royal Enfield Motors who havemanaged to export two-wheelers made in India to developed nations. The motorcycle standards for developed nations

are much higher than that of developing countries. However, analyst say that carsmanufactured in India have already made their way in to the developed countries, soYamaha does not have to worry in terms of quality. Indias second largest automakerBajaj Auto is also amid talks to export its bikes in Latin American countries & TVSMotors, known as the least expensive bike maker, exports to African & ASEAN nations.

KEY PLAYERS: Yamaha Motors, Bajaj, TVS

WHY IT IS IMPORTANT? In the 1990s when the Indian motorcycle market was

booming, major Japanese motorcycle manufacturers partnered with Indian companiesYamaha chalked out a strategic partnership with Escorts Group, Suzuki with TVS and

Honda with Hero Group. However by 2012 all these joint ventures fell apart & the Japanese companies launched theirwholly owned Indian subsidiaries. Currently India Yamaha Motors is the fourth largest exporter of motorcycles withover one lakh unit exports, way behind top exporter Bajaj Auto which shipped over 1.94 million units in FY12.

3) Great Britain likely to fall in to Triple-Dip Recession by next year Reuters/BloombergIMPACT: The second quarter results have showcased a gloomy picture of the UK. The country which has its austeritypolicy in place is getting into deeper economic troubles. The GDP in second quarter fell by 0.7% from the first quarter its steepest fall since 2009. The service sector which accounts for almost 73% of the GDP also decreased by 0.1%The construction sector in particular, which was the fastest growing sector since 2010, also contracted by 5.2%.Finance Minister George Osborne has said that the economy has been sinking at a rapid rate since last year. Theausterity measures, which have been touted asflat-lining economic recovery by opposition leaders, are not showingresults as fiscal deficit still remains at 8% of the GDP.

Analysts said that the Olympics could help boost the economy as foreign nationals wouldspend in the UK during the games. But this is not a major relief and the country is stillstruggling to survive the economic slowdown. It is also predicted if the exit of the Greekcurrency would further increase UKs troubles and it might again fall in to its thirddepression since 2009.

KEY PLAYERS: United Kingdom, Eurozone

WHY IT IS IMPORTANT? UK has implemented some of the toughest austerity measures. It has the lowest interest

rate at 0.5% and the government had last month ordered the printing of more money, worth 50 billion euros. The

Bank of England aimed at buying outstanding bank loans by paying in cash. After the results, Osborne said the

government does not have any more funds to induce into the economy.

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4) The Olympics effect on world economies TOI/FT/DNAIMPACT: According to a new report by Grant Thornton International, developing economies perceive big sportingevents like the Olympics as helping them attract foreign investments. BRIC & Latin American nations have voiced theiropinion that hosting sporting events do attract inwards investments. But on the contrary, developed countries do notthink such events make any difference in their inward investments pattern. Developing economies lack infrastructurelike sports venue, hotels, transport; & attract investments in those areas. Besides it gives them a chance to showcasetheir capabilities like better infrastructure, consumer base and willingness to be a part of the global village, thusattracting future investments and tourists. In case of developed economies, the infrastructure is already in place and

there is no need of major additional investments. Analysts had predicted that the2012 Olympics would boost UKs economy which entered a double-dip recession in

first quarter of 2012. Although the viewership of Danny Boyles spectacularOlympics opening ceremony was about one billion worldwide, it is reported thatLondon has not attracted many tourists during the ongoing games.

KEY PLAYERS:Olympics, UK, Athens, Australia

WHY IT IS IMPORTANT? If past data is studied, it comes to light that along withpositive effects, Olympics do have negative effects on the economy of the host

country. When Athens hosted Olympics in 2004 it invested hugely in the infrastructure and the event was a grandsuccess. However, it was seen that in following months the industry saw loss of over 70,000 jobs mainly in theconstruction sector. The venues that were built were of not much use to the country as it could not be utilized for anyeconomic activity.

5) Snapdeal seals a deal with General Atlantic ET/BS

IMPACT:Indias e-commerce company, Snapdeal is in the process of signing a deal with the global equity investmentfirm General Atlantic. The investment company which has in recent years invested over $1 billion in Indian firms willacquire a stake in Snapdeal. General Atlantic along with existing Snapdeal investors Nexus, Bessemer & IndoUSVenture Partners will raise an amount of Rs 440-550 crores. Last year, Flipkart was planning to sign a deal withGeneral Atlantic, but the talks went sour as the investment firm under-valued Flipkarts stake.Banking experts sayvaluations of stocks have dropped to 1-2 times of revenue from earlier 4-10 times. Snapdeal has targeted revenues ofRs. 600 crore in FY13. This is the first time General Atlantic is investing in an Indian e-commerce industry.

KEY PLAYERS:Snapdeal, General Atlantic, Flipkart

WHY IT IS IMPORTANT? Rivals Snapdeal & Flipkart - the key players drivingonline retail industry have different business models. Snapdeal follows e-baysmodel wherein it provides a platform that connects consumers to retailers, Flipkartuses Amazons inventory based model. Flipkart was launched in 2007 & Snapdeal

in 2010. But Snapdeals generated higher revenues within two years whereasFlipkart took over four years to generate substantial revenues. It is believed thatSnapdeals no inventory model led to its early success.

6) Job-snatcher turned employment generator Indian IT cos gain popularity in US - The Hindu/ETIMPACT:Recently while addressing the Asia Society in USA, Indias Ambassador to the U.S, Nirupama Rao dismissed

talks about India growth story being oversold which gained buzz in last onemonth after former US Secretary of State Madeleine Albrights comments. Shealso commended the role of Indian IT companies in US. This is clearly visiblein the hiring trends of Indian giants like Infosys, TCS, Wipro & HCL. Wiprocurrently employs 3,500 local staff in its US operations, while the numberstands at 1600 for Infosys. Both Infosys & TCS are expected to employ 2,000more Americans this year. Wipro aims 50 per cent of its operations to becarried out by locals while HCL's North America office already consists of more

than two third local employees. Even smaller firms like MindTree, NIIT andZensar Technologies are seen following the same trend.

KEY PLAYERS:IMF, US Government

WHY IT IS IMPORTANT? The shift in hiring-strategy might not seem significant on comparing the size of softwarecompanies; nonetheless it makes great business sense as pointed out by one of the Ernst & Youngs analysts. IndianIT companies have faced several hurdles in past few years over the outsourcing issue. Total number of H-1B visas(required by IT firms) has been restricted to 65,000 from the peak of 195,000 in 2001. Last year in August, the fee onH-1B visas was doubled by US. Hence, the companies have started shifting bases to USA, an approach supported bythe US government in the form of tax incentives and grants. Further, they have been able to enter government andhealthcare sectors in US by employing local people as outsourcing of these jobs is restricted by US laws. Plus localsare anyway preferred in such permanent jobs as these require deep local knowledge and domain expertise.


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7) ECB struggles to find formula for resolving Eurozone crisis-ET/ReutersIMPACT:European Central Bank (ECB) president Mario Draghi tried to improve investors mood after hinting that hewould take steps towards lowering Spanish and Italian borrowing costs. It has been speculated that ECB, which wilannounce its latest interest rates on Thursday (Aug 02), will probably find a way to resume bond-buying from weakereconomies such as Italy & Spain. However, it will have to face seriousopposition from Germany. The economic powerhouse of Europe says that suchsteps would release pressure from debt ridden governments of Italy & Spain,which already find it difficult to stick to their austerity measures and economicreforms. Italian Prime Minister Mario Monti & French President FrancoisHollande have meanwhile tried to convince European leaders to allow

European Rescue fund be used for buying bonds, a step which Germany againfinds on the wrong side of European Union treaty.

KEY PLAYERS: ECB, Mario Draghi, Germany

WHY IT IS IMPORTANT? ECBs worries have increased in recent days aseconomic data shows increased outflow of capital from Spanish banks while unemployment has reached at its peaklevel of 11.2 per cent across the 17 nation Euro-block. Though the country faces internal resistance from applying fora bailout, it is the most likely solution for its crisis. Analysts say that if that happens, Italy, an economy twice the sizeof Spain would be more than eager to follow suit. Greece on the other hand is already waiting for the next instalmentof aid from international lenders.

8) RBIs SLR cut may force banks to lower the loan rates- Hindu Business Line/ BSIMPACT:Despite a coherent demand for a cut in policy rates from industry and banks, RBI in its much awaited policy

review refrained from doing so. Instead it has cut statutory liquidity ratio (SLR) by 100 basis points to 23 per cent.CRR is also left unchanged. Updating its projections the central bank has stated inflation tobe at 7 per cent in FY13 up from 6.5 per cent projected in April monetary policy review.Projections for GDP in FY13 also see a sharp change from 7.3 per cent to 6.5 per cent. Thecut in SLR is expected to lower the bulk deposit rates, allowing banks to cut loan rates inretail space and working capital finances. Prime Minister's Economic Advisory Counci(PMEAC) Chairman C Rangarajan has come out in support of RB Is move. He said that asinflation remains high, changing the repo rate would have sent a wrong signal.

KEY PLAYERS: Reserve Bank of India

WHY IT IS IMPORTANT? Statutory liquidity ratio refers to the amount of liquid assets(such as Gold and Central/State government securities) that banks must maintain as

reserves other than cash. RBI, which is entitled to increase this ratio up to 40 per cent, often uses it to contain

inflation and fuel growth. It is expected that SLR cut will release around Rs 65,000 crore in the banking system. Thisin turn will ease credit flow which eventually would benefit the retail and corporate borrowers.

9) Its boom time for event management business in India- ET/ EEMAIMPACT:Event and Entertainment Management Association (EEMA) along with Ernst & Young has released its firstever white paper on Indian events and activation industry. Estimated to witness a remarkable 50 per cent growth innext two years the industry might reach a size Rs 4,375 crore, up from its current size of Rs 2800 crore. The sizeexcludes the major revenues from telecast rights of sporting events. Thegrowth is driven by events like weddings, sports and below-the-line (BTL)promotional events. The report categorises the services offered by eventmanagement companies under three key segments:

Intellectual Properties (IPs) (such as IIFA and Mirchi Music Awards) Managed Events (managed by third parties) Activations and promotional campaigns for brands

Analysts say that the margins in managed events and activations are verythin while IPs provide maximum opportunity for making profits. The whitepaper also proposes a model for measuring RoI (return of investments) incase of heterogeneous services, as BTL promotions lack any universallyaccepted measurement metric till date.

KEY PLAYERS: EEMA, Ernst & Young

WHY IT IS IMPORTANT? The Indian event management industry has seen a CAGR of more than 15 per cent in lastfour years. However, largely its still unorganised and hence faces challenges in getting finances from PE firms. At thesame time larger players which have acquired smaller ones in last few years have been able to raise capital from thesame PE firms. Moreover, despite inherent challenges some of the Indian firms have gained expertise in handlingglobal events.


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10) July auto sales up despite road-brakes- HT/The Hindu Business LineIMPACT:Tata Motors has emerged as an unlikely leader as all major domestic car makers reported higher sales in

July compared to sales in same period last year. Continuing its strong performance thisyear Tata motors dominated the passenger vehicles market where it posted a 53 per centgrowth (y-o-y). In comparison Hyundai Motor & Maruti Suzuki could post 7.6% & 6.8%growth in sales respectively. Riding on the success of its SUVs, Mahindra and Mahindra(M&M) posted its second highest monthly sales with a growth figure of 27%. Analysts saythat its remarkable that despite inflation, high fuel prices and costly auto loans the Indianautomotive industry has continued to show a positive trend.

KEY PLAYERS: Indian Automotive Industry

WHY IT IS IMPORTANT? Indian automotive industry has seen some significanttransition in trends in recent days. The utility vehicle market has grown at a remarkablerate. Moreover, it has now started affecting the sales of entry level car segment in India

where Maruti is considered as a specialist. Marutis entry-level models (Alto, M800, Alto, Astar) have posted a 24 pecent drop in July sales, whereas its sedans and premium compacts have shown considerable growth in the sameperiod. This reversal in trend might be of great interest to Renault which plans to launch an 800 cc car in India by2014-15.

11) China will approach the Lewis Turning Point (LTP) by decade-end: IMF- Imf.org/The EconomistIMPACT: An IMF report on China discusses future demographics in theregion employing the dual sector model or what is commonly known bythe name Lewis Model. The report suggests that the country would cross

Lewis Turning Point (LTP) in the next decade. The model is based on variousdemographic factors and predicts the approximate time after which cheap-labour supply would become scarce, eventually causing a slowdown in theeconomy. Its known that Chinas current economic prowess is based on itsmanufacturing sector, which derives cheap-labour from Agricultural sector.

However, improvement in living standards, financial sector reforms as wellas contraction of agricultural sector would deplete this excess labour supplyin coming years. This excess labour which is 150 million at present isprojected to fall to just 30 million in 2020. The report hints that China could marginally deferthis eventuality by:

Relaxing the one child policy (with benefits only in longer time passage) Raising labor force participation rates ( providing migrant workers urban residency

permits & other benefits)

KEY PLAYERS:IMF, Chinese Government

WHY IT IS IMPORTANT? Its not only the Lewis Modelwhich points towards the workforce related issues; Chinas Old Age Dependency Ratio is also a big concern. Projectionssuggest that number of pensioners in China would rise to 20 per cent in 2020 and nearly 39per cent of its labour force in coming 40 years. India on the other hand seems to be wellpoised with this ratio projected to be around 20 per cent in 2050.

12) Panasonic posts first profits after a gap of six quarters - FT/ReutersIMPACT: Panasonics new president, Kazuhiro Tsuga, is proving to be lucky for the company, as it comes out oflosses that continued for six quarters. Restructuring of its ailing television business, which broadly means not sellingany of those, has done the trick. The companys audio-visual division, (which includes TVs) has posted a 7.4bn yenprofit in Apr-Jun quarter against a 3.8bn yen loss in the same period last year. Like Panasonic, another Japanese

company Sony has struggled to make profits amidst strong competition from Korean& Taiwanese technology giants. Additionally, the strong position of Japanese currencyhas made exports costlier, which eventually depleted the companys profits. As aresult, Panasonic has shifted its focus to specialised products such as image sensorsfor cameras. The company is also planning to move production activities out ofJapan. It also reduced its workforce by 10 per cent (around 36,000 workers) globally.

KEY PLAYERS: Kazuhiro Tsuga, Panasonic

WHY IT IS IMPORTANT? In last four years Panasonics combined losses crossed$15 billion mark and its market value is now down 80 per cent to less than $16

billion. Somehow the companys restructuring has started showing positive results, though analysts say a lot stillneeds to be done. Hence, in short term the company will be happy with its diminished revenue.


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6) Bronze medal at Olympics might open golden gates of endorsements for Narang- ET/TOI/NDTV sportsIMPACT: Gagan Narang might have joined the extending list of non-cricket celebrities in India, whose brandendorsements get bigger every time they come out of a major sporting event. After winning abronze medal in 10 metre Air Rifle event he has signed a deal with Milagrow, a company whichclaims to be Indias No.1 home cleaning robot makers. The company is also in the business ofmaking tabs which it likes to call table top PCs. Media experts believe that the brandendorsement would make Narang richer by anywhere between Rs 10 lakh and Rs 20 lakh.More such endorsements are expected to follow in coming days. Its noteworthy that similarbrand endorsements by cricket stars (even if out of form) in India are valued in a range of 25to50 Lakh. Moreover, popularity- which is a main criterion for such brand endorsements- is notessentially linked to the performance at games. This fact is quite clearly visible in thepopularity charts of Google which place Sania Mirza & Jwala Gutta above Saina Nehwal.

KEY PLAYERS: Gagan Narang, Advertising Industry

WHY IT IS IMPORTANT? Most companies realize that they have to design special marketingstrategies, probably targeting a niche, when it comes to cashing the brand appeal of non-cricket stars in India. Theseendorsements cannot be compared with those done by cricket stars in India, which generally have a mass appeal.

6) Indian brands with Foreign Labels on rise - ETIMPACT: The Indian government last year enthusiastically announced 100% FDI in single brand retail expecting adownpour of foreign investments into the country. But India was surprised as it received a lukewarm response fromforeign investors. UK shoemaker Pavers Ltd, Swedish furniture maker IKEA, Spanish fashion brand ZARA were

amongst the few who wanted to invest in India. Many believe the 30% compulsory sourcing clause has affected theinvestors decision. Amid all this, there are certain players who are benefitting from all the chaos - Indian apparemanufacturers who operate with foreign labels. Indians have always been fascinated by foreign brands and the rising

income has led to a substantial increase in Indians opting for foreign brands. Totap this market, more Indian manufacturers are labelling their products as foreignbrands. Munich Polo is one such Indian company that sells kids wear andpositioned itself as a German brand. Da Milano a high end luxury accessories brandwhich is perceived to have Italian origins is also a local brand. Footwear makerFranco Leone & crockery maker La Opala are also domestic brands.

KEY PLAYERS:Munich Polo, Da Milano, Franco Leone, La Opala & Monte Carlo

WHY IT IS IMPORTANT? Indian consumers are expecting more foreign brands toenter India. If given to choose between options- Tommy Hilfiger, Pavers, Munich

Polo and Zara- consumers would hardly be able to find out which is an Indianbrand. Thus local companies with foreign labels definitely would be in an

advantageous position. Ludhiana based Nahar Group, which has been operating the Marco Polo brand since past 25years accepts that there are benefits of using foreign labels but also risks associated are high while deliveringproducts with international quality.

7) Global companies eager to enter India. FDI in multi-brand retail still uncertain Reuters/DNAIMPACT: According to a report released by the House of Representatives & the Senate, American companies havespent millions of dollars lobbying to the US government for their entry into India. The worlds biggest retai ler, Wal-Mart Stores has spent almost $1.5 million on lobbying in the past quarter that ended in June 2012. Americancompanies are seeking the help of the US government on resolving issues like the multi-retail FDI policy in India,retrospective tax amendments, GAAR and other trade related matters. Wal-Mart, which has been planning to enteIndia since 2007, had temporary relief when the Indian government announced the FDI policy in multi brand retail lastyear. But due to opposition from various political parties the decision was deferred.

Prudential Financial Inc has also spent over four million dollars in lobbying for entryof foreign banks into financial services in India & equity ownership issues. US basedDow Chemicals - responsible for the Bhopal Gas Tragedy, Morgan Stanley, Xeroxand Honeywell International have also been lobbying to resolve trade related issues.

KEY PLAYERS:Walmart, Prudential Financial Inc, the US government, the Indiangovernment

WHY IT IS IMPORTANT? Although the multi retail FDI policy has been finalized, ithas not been implemented due to opposition. It is argued that the domestic retail sector is still in its early stage ofdevelopment & any liberalization would hamper the growth of domestic retailing. Along with its positive effect on theeconomy, FDI may cause monopoly of large multinational retail giants, displacement of small retailers & loss of jobs.

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Continued from last week

Retailing fashion the e-way:In the hard sell Indian e-retailing scene, discounts are considered a de-facto mode of survival. Guaranteeing greatservice with great discounts is one of the major reasons that e-commerce firms in India burn through funds as if therewere an unlimited supply. Myntra has taken a different tack as mentioned earlier. Myntra relies on providing the latestseason fashion and the greatest possible variety. This hastranslated to 21,000 unique product offerings spread across350 brands. While discounts do play their part but Myntradoesnt display an overdependence on them. That thestrategy is working is testified by the fact that Myntrareceives around 8000 orders per day and has a customerbase of over two million which translates to roughly 20-30per cent market share. The revenue figures have also beendoubling every five to six months.

Delivery schedules are critical for any e-commerce site andthe faster and accurate the delivery the better reputation ithas amongst consumers. Flipkarts reputation is directlyrelated to its impressive delivery timelines. Myntra hasconsistently tried and achieved at least a 48 hour or lessdelivery timeline which has earned it the admiration of many a customer. A lot of growth in Myntras customer base isbeing driven by Tier II and III cities. Considering that store penetration is still a problem for many brands in India,Myntra provides an alternative platform without the associated physical commitments and costs.

Overcoming touch and feel:As mentioned earlier, touch and feel are considered critical factors influencing purchase, at least in India. Needless tosay, on a digital platform touch and feel are the first casualties. How Myntra has overcome this problem is by makingsignificant investments in putting up high quality high resolution photographs of the merchandise.

Marketing & Advertising:E-commerces true arrival in India has been heralded by the jump in the number of e -commerce website ads thathave begun to jostle for space on our TV sets. Be it Flipkarts kids in adult avatars or Snapdeals Yam Dude or the selit tag line of OLX, e-commerce has produced some good advertising on TV. Detractors are saying that burning cashon advertising is not such a great idea at this stage of e-commerces nascent growth. Myntras transition into Lifestylemeant that TV ads werent far behind considering TV is the best way to reach Indias masses. Characterized by quirkymessaging, the latest series of ads for Myntra by Happy Creative Services brings together new age fashion with oldworld grit. From style to humour, Myntras messaging has moved in a manner that brings it closer to its goals andconsumers as well.

Talent:Myntras talent acquisition is governed by the lineage of its founders, who are all IITians. Experiencedprofessionals like Sanjay Ramakrishna who has experience with companies like Google and Intel, Deepak Rishi who

earlier headed the supply chain function at VF Arvind, were hired to ensure thatMyntra becomes and maintains its leadership in the lifestyle space. A look throughthe websites career section makes it clear that the company is looking for the bestMyntra has also been part of the relatively recent trend which has seen e-commerce start-ups visiting IIMs for their talent needs. Most of the jobs at Myntraare technology, business development or logistics and supply chain related. Thecompany offers best in the industry salaries which make it a workplace of choiceTheir HR policies have also been deemed employee friendly by many experts.

Logistics: Myntra.com relies on a hybrid system for its logistics operationsThis means that it is working at developing its own in-house logistics team as welas currently relying on third party logistics service providers for order delivery fromits warehouses.

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Payment options: Apart from the usual credit/debit card based payment, Myntra also offers Cash onDelivery (COD) as an option. Myntra believes that considering cashs relative importance in the economy, COD goes along way in helping meet customer needs. This is a good penetration strategy that most Indian e-commerce playersare buying into. However, recent reports suggest that COD is turning out to be a bane for most e-commerce firms asit increases payment cycles and leads to higher than normal returns. Though major players like Flipkart and Myntrahave stated that their returns are still within single digit percentages, experts are skeptical about how long beforecash on delivery ceases to be sustainable.

On competition: Myntras primary competitor remains smile groups fashionandyou.com which offers highfashion at deeply discounted prices via its flash sales. However, considering Myntras funding success and currentmarket leader status, the Bengaluru based company is unlikely to face tough competition soon. New players likeJabong are burning oodles of cash via their TV ads to try and capture market share, however the situation is still notclear enough to take a call on the success of such tactics.

The Future: Mukesh Bansal had this tosay in a recent interview with Alootechie,Nearly40 per cent of our business comes from outsidetop 10 metros and two years down the line weexpect this to be around 60 per cent. Manybrands in India still have around 20 stores acrossthe country, which is still small for a country likeIndia. Hence online gives these brands a good

platform to reach consumers across India.

Myntras continued success has led MukeshBansal to believe that the firm can possiblybecome a billion dollar business in the next fourto five years. In the light of recent news reportscasting doubt on the Flipkart growth story,Myntra can only hope that it is not next in line.


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1) Nimbuzz: Getting personal with marketing- Business Standard 30 JulyDespite the hype around location-based advertising, new research seems to suggest that mobileusers want to see ads that reflect who they are not where they are at a given point in time. Inother words, personalisation trumps things like timing or location. Keeping this insight in mind,Nimbuzz, a leading player in instant messaging and mobile communication, has turned its focuson tailoring interactions via mobile to consumers tastes and interests. This is in line withNimbuzzs new strategy to focus on the B2B segment while not taking its eyes off its traditionalclient base on the B2C side. Alongside, Nimbuzz has collaborated with publishers to increasetheir catalogue of Chat Buddies in NWorld, the Nimbuzz app store. Some of these are IBNLive

for news update, Cricbuzz for live cricket update, Twitter for tweeting from within Nimbuzz,VantageTrade for stock updates, Wikipedia for ready information, YouTube for searching and viewing videos, IMDB formovies reviews, Car Dekho for car prices and reviews, to name a few.

2) Arena Multimedia: 3D commercials enter the arena- Business Standard 30 JulyArena Multimedia, the multimedia and animation education arm of Aptech has created thecountrys first 3D ad, Dudolls. Using 3D stereoscopy technology, Arena wants to create a highbrand recall for animation and multimedia as compelling career options. The ad depictsalphabets used to spell Arena as one-eyed cartoon characters, or Dudolls. These come alive withenergy and animate their own performance, even as a young man makes a promising careerwith his knowledge of animation. Ninad Karpe, MD and CEO, Aptech credits foresight forlaunching a 3D ad that showcases the product offering in the ads execution itself. But atelevision commercial in 3D would restrict it to mainly theatres as of now, which are fitted withthe needed technology, unlike TV sets in most households. Karpe justifies, Since we are future

ready, once the mass media are available, we shall be able to run these 3D commercials onnew-age devices too.

3) Hindustan Unilever Limited to launch hair care brand TRESemme in India soon- ET 1 AugUnilever will launch its premium hair care brand TRESemme in India to target salon-frequenting consumers in the urban market. India is the second market after Brazil whereUnilever will launch TRESemme after inheriting the brand as part of its acquisition of AlbertoClulver for $3.7 billion in 2010. In a market flooded with hair care products, TRESemme willtry to differentiate itself with its focus on salon like experience at home with its shampooand conditioner range, Hindustan Unilever officials said. Analysts feel that HUL is looking tocomplete all price points in the hair-care portfolio with TRESemme. Personal care segmentwith brands such as Dove, Sunsilk and Lux earns the highest margin for the Anglo-Dutchfirm's Indian subsidiary at over 25%. While, personal care accounts for about 30% of HUL'srevenues, its contribution to net profit was over a fifth last fiscal. HUL has been diversifying its

personal care product portfolio across price-points through brand extensions.

4) Samsung adopts mobile phone business strategy for consumer durables - ET 27 JulySamsung has restructured its electronics and appliances business to create two salesverticals in a bid to replicate its mobile phone success in the Indian consumer durablesmarket where it trails LG Electronics. Samsung Electronics India now has two salesverticals-one selling products to distributors, stand-alone multi-brand outlets andSamsung brand stores, and other focusing only on national and regional retail chainsThe restructuring is the brainchild of BD Park, who took charge as MD of Samsung India

in January, after successfully building the South Korean firm's mobile phone business asthe second largest brand in the country and overtaking market leader Nokia in the smartphone market. The move is afirst of its kind in the Rs 37,000-crore Indian durable industry, where companies organise their business on productsegments. Samsung Electronics, for example, earlier had two verticals-one for audio-visual products like televisionand music players and the other for home appliances such as refrigerators, washing machines and air-conditioner.

5) Delayed monsoon powers sales of inverters, batteries- ET 30 JulySales of inverters and batteries jumped about 30% for the quarter to June, as a delayedmonsoon pushed up power consumption in energy-deficient India. Manufacturers of powerbackup systems say they expect good profits this year, as the increase in sales will offset therise in input costs due to a weak rupee. The country's largest battery maker Exide Industriessaid growth was robust despite a 4%-5% rise in prices. In the power inverter market,including batteries, growth has been 25%-30% in the first quarter compared with thecorresponding quarter of the last fiscal. India does not generate enough electricity to meet therising demand from urban areas and industry. The shortage becomes acute during the summermonths, forcing households to switch to power inverters. The domestic market for inverters this year is expected totouch Rs 2,000 crore while that for batteries is estimated at Rs 5,000 crore.

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6) Reliance Footprint plans to capture 15% share in India's footwear market- ET 26 JulyReliance Footprint, a footwear specialty store from Reliance Retail plans to captureover 15% of India's footwear market by doubling retail stores each year and addingmore brands in its portfolio. So far, the retailer has opened 100 stores at an averagesize of 5000 sq ft each since 2007 and has around 5% market share. However, theyopened as many as 50 stores just last year and the company says that the aggressionto ramp up outlets will intensify each year. "Going forward, the pace of opening storeswill only increase. Footwear is a good margin business and we are already EBITDApositive last year," said Gopalakrishnan Sankar, Chief Executive, Reliance Footprint

which is now India's largest footwear company with 0.5 million space. The specialty

retail format sells a range of 20,000 footwear, luggage and accessories products from over 50 international andnational brands. In addition, they have an exclusive agreement with Japanese footwear firm ASICS alliance to seltheir products exclusively in India.

7) Now, go Mad Over Donuts in cafs- The Hindu Business Line 31 JulyIt is only in India that customers ask for warm doughnuts. Based on this feedback, Mad OverDonuts serves warm doughnuts to its Indian clientele, the company said. Besides tweaking itsmenu, the company is also experimenting with its formats. Buoyed by the success of itskiosks, the Singapore-based chain said it would widen its portfolio by entering the cafsegment by year-end. The company started operations in 2008. It has 38 stores and will addanother 40 by the end of the fiscal. The Mirah Group, the owners of restaurant chains Rajdhaniand Falafels and Himesh Foods own the brand in India. Asked if raw material prices werepinching, COO Mr Bhattacharya said all proprietary products were imported from Singaporeand the company only baked and sold them. He said the company has no plans to set up a

manufacturing unit in India. The quick service restaurants (QSR) business in India is estimatedat Rs 5,000 crore with an estimated growth of 40 per cent annually.

8) Online retailers perk up offerings to click with women- The Hindu Business Line 30 JulyWomen shoppers are the next big thing in online retail. Boosted by the tremendous growthin orders placed online, e-tailers are now trying to attract women with niche offeringsThese include women-only platforms, virtual trial rooms, celebrity endorsements and easyreturn policies. The market for non-store retailing is estimated at $3.2 billion, registering agrowth of 23 per cent annually. Even though currently men account for 60 per cent of thebuys, the womens business is growing significantly. Platforms such as Myntra.comFashion&You, Zovi.com also offer convenience in terms of variety of apparel, display,choice, discounts and ease of delivery. Mr Mukesh Bansal, Founder, Myntra.com, notes

that, Women are influential shoppers. They start with low-risk and low value items such asan accessory and from there move on to bigger purchases such as dresses and bags, among others. Myntra has tied

up with Bollywood actor Kalki Koechlin for celebrity endorsement. The actor will write blogs and share style tips toprospective buyers.

9) Online retailer eBay looks to give exports a leg-up- The Hindu Business Line 1 AugSmall-time horse saddle makers from Kanpur are finding new markets in Germany and the UK. Thanks to a simple listing on eBays sites in the two horse-loving markets. Online retailereBay wants to give a big push to more exporters such as the Kanpur saddle makers. Whiledomestic retail will remain the mainstay for eBay, we also want to accelerate the exportbusiness on our site. Currently, there are 30,000 domestic sellers and 15,000 exportersregistered on eBay India. In April, eBay tied up with the Federation of Indian ExportOrganizations (FIEO) to give a fillip to small and medium exporters across the country. WhileFIEO is engaged in exporter education, eBay provides exporters a platform to sell their goods.Using one user id, sellers can list their products on any of the 39 country sites of eBay. Forinstance, we have manufacturers of horse saddles from Kanpur listed on our Germany and UK sites as equestrian

sports is very popular in these countries, says Thomas.

10) AVT Natural Products starts subsidiary in London to sell decaffeinated tea and instant tea - ET 1 AugAVT Natural Products Ltd. is starting a wholly owned subsidiary called AVT Tea Services Ltd. inLondon to sell decaffeinated tea and instant tea. The unit will go operational on October 1AVT Natural Products is a part of AV Thomas Group, specializing in extraction of naturaproducts like marigold, spices and value added teas. It also market specialty spice oils andoleoresins. Richard Darlington, a tea veteran, will head the AVT TSL operations as managingdirector. AVT TSL is a logical extension of AVT natural's proven competency in value addedbeverages manufacturing in India,'' said Ajit Thomas, chairman of AVT Natural and AVT Groupof companies. AVT Natural's net profit for Q1, 2012 rose 23 % to Rs 14.28 crore compared

with Rs 11.58 crore in the same quarter last year. The sales grew to Rs 72.44 crore from RS47.84 crore.


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Brand police on the prowl at Olympics

http://www.business-standard.com/india/news/brand-policethe-prowl-at-olympics/481499/

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http://www.business-standard.com/india/news/brand-policethe-prowl-at-olympics/481499/http://www.business-standard.com/india/news/brand-policethe-prowl-at-olympics/481499/http://www.business-standard.com/india/news/brand-policethe-prowl-at-olympics/481499/


16/18

SOURCES

Charts & Graphs: : http://www.tradingeconomics.com/india/business-confidence

SOURCES FOR COVER STORY

http://news.outlookindia.com/items.aspx?artid=770516

http://timesofindia.indiatimes.com/india/Power-grid-failure-40-crore-Indians-still-in-dark-age/articleshow/15303227.cms

http://en.wikipedia.org/wiki/2012_northern_India_power_grid_failurehttp://in.news.yahoo.com/what-is-causing-power-grid-failure-in-india-.html

http://www.bloomberg.com/news/2012-07-31/india-power-grid-collapses-for-second-time-in-two-days.html

http://timesofindia.indiatimes.com/india/Why-power-is-a-perennial-problem/articleshow/15299462.cms

http://www.firstpost.com/economy/why-you-should-prepare-for-more-power-grid-collapses-397813.html

http://www.firstpost.com/economy/groping-in-the-dark-power-crisis-is-a-metaphor-for-india-399323.html

http://economictimes.indiatimes.com/opinion/editorial/power-grid-collapse-political-spine-must-penalise-violation-of-grid-

discipline/articleshow/15304731.cms

http://www.business-standard.com/india/news/powerless-at-noon/481965/SOURCES FOR PERSONALITIES OF THE WEEK:

http://www.bajajauto.com/profile/profile_rajiv.html

http://articles.economictimes.indiatimes.com/2012-03-22/news/31225047_1_pulsar-150cc-100cc-rajiv-bajaj

http://www.bsmotoring.com/news/motorcycles-will-drive-growth-in-two-wheeler-segment-not-scooters-rajiv-bajaj/5206/1

http://great-indian-companies.blogspot.in/

http://www.business-standard.com/india/news/opportunity-in-failures/469453/

http://www.bajajauto.com/bajaj_corporate.asp

http://en.wikipedia.org/wiki/Bajaj_Auto

http://timesofindia.indiatimes.com/topic/Sharad-Pawar/quotes

http://www.dnaindia.com/india/report_congress-bends-to-sharad-pawar-ways_1719738

http://www.hindustantimes.com/News-Feed/ColumnsOthers/What-s-the-deal-Mr-Pawar/Article1-903535.aspx

http://articles.timesofindia.indiatimes.com/2012-07-27/india/32888324_1_sharad-pawar-supriya-sule-senior-ncp-leaders

http://timesofindia.indiatimes.com/city/pune/Sharad-Pawars-supporters-unhappy/articleshow/15295843.cms

http://en.wikipedia.org/wiki/Sharad_Pawar

http://www.iloveindia.com/indian-heroes/sharad-pawar.html

CORPORATE INTELLIGENCE

http://www.ibef.org/industry/foodindustry.aspxhttp://www.britannia.co.in/www.amul.com/www.pepsico.com/http://www.fnbnews.com/article/detnews.asp?articleid=30083&sectionid=49www.in-beverage.org/http://www.fnbnews.com/redfr.asp?fn=/other/aboutus.asp&title=About%20Us

SOURCES FOR NEWS ANALYSIS (1-15)

1) Indian Government rejects ZARA brands proposal to launch Massimo in India Reuters/EThttp://in.reuters.com/article/2012/07/25/india-inditex-zara-idINDEE86O05J20120725http://articles.economictimes.indiatimes.com/2012-07-27/news/32889481_1_massimo-dutti-brand-pavers-england-inditex

2) Yamaha Motors to sell Indian made deluxe bikes in Japan ET/BShttp://articles.economictimes.indiatimes.com/2012-07-26/news/32869810_1_india-yamaha-motor-fz-big-bikeshttp://www.business-standard.com/india/news/bajaj-auto-expects-50sales-to-comeexports-in-3-yrs/179610/on3) Great Britain likely to fall in to Triple-Dip Recession by next year Reuters/Bloomberghttp://in.reuters.com/article/2012/07/25/britain-economy-recession-idINDEE86O0K120120725http://www.bloomberg.com/news/2012-07-29/new-u-k-strategy-urged-as-triple-dip-recession-predicted.html4) The Olympics effect on world economies TOI/FT/DNAhttp://timesofindia.indiatimes.com/business/international-business/Big-sporting-events-key-to-attracting-investment-say-emerging-economies/articleshow/15164862.cmshttp://www.ft.com/intl/cms/s/0/536c65e4-da79-11e1-902d-00144feab49a.html#axzz22BXWMIAnhttp://www.thedailybeast.com/articles/2012/07/30/do-the-olympics-boost-the-economy-studies-show-the-impact-is-likely-negative.html5) Snapdeal seals a deal with General Atlantic ET/BS
http://www.tradingeconomics.com/india/business-confidencehttp://www.tradingeconomics.com/india/business-confidencehttp://news.outlookindia.com/items.aspx?artid=770516%3cbr/http://news.outlookindia.com/items.aspx?artid=770516%3cbr/http://en.wikipedia.org/wiki/2012_northern_India_power_grid_failure%3cbr/http://en.wikipedia.org/wiki/2012_northern_India_power_grid_failure%3cbr/http://www.bloomberg.com/news/2012-07-31/india-power-grid-collapses-for-second-time-in-two-days.html%3cbr/http://www.bloomberg.com/news/2012-07-31/india-power-grid-collapses-for-second-time-in-two-days.html%3cbr/http://www.firstpost.com/economy/why-you-should-prepare-for-more-power-grid-collapses-397813.html%3cbr/http://www.firstpost.com/economy/why-you-should-prepare-for-more-power-grid-collapses-397813.html%3cbr/http://economictimes.indiatimes.com/opinion/editorial/power-grid-collapse-political-spine-must-penalise-violation-of-grid-discipline/articleshow/15304731.cms%3cbr/http://economictimes.indiatimes.com/opinion/editorial/power-grid-collapse-political-spine-must-penalise-violation-of-grid-discipline/articleshow/15304731.cms%3cbr/http://economictimes.indiatimes.com/opinion/editorial/power-grid-collapse-political-spine-must-penalise-violation-of-grid-discipline/articleshow/15304731.cms%3cbr/http://economictimes.indiatimes.com/opinion/editorial/power-grid-collapse-political-spine-must-penalise-violation-of-grid-discipline/articleshow/15304731.cms%3cbr/http://www.bajajauto.com/profile/profile_rajiv.htmlhttp://articles.economictimes.indiatimes.com/2012-03-22/news/31225047_1_pulsar-150cc-100cc-rajiv-bajajhttp://www.bsmotoring.com/news/motorcycles-will-drive-growth-in-two-wheeler-segment-not-scooters-rajiv-bajaj/5206/1http://great-indian-companies.blogspot.in/http://www.business-standard.com/india/news/opportunity-in-failures/469453/http://www.bajajauto.com/bajaj_corporate.asphttp://en.wikipedia.org/wiki/Bajaj_Autohttp://timesofindia.indiatimes.com/topic/Sharad-Pawar/quoteshttp://www.dnaindia.com/india/report_congress-bends-to-sharad-pawar-ways_1719738http://www.hindustantimes.com/News-Feed/ColumnsOthers/What-s-the-deal-Mr-Pawar/Article1-903535.aspxhttp://articles.timesofindia.indiatimes.com/2012-07-27/india/32888324_1_sharad-pawar-supriya-sule-senior-ncp-leadershttp://timesofindia.indiatimes.com/city/pune/Sharad-Pawars-supporters-unhappy/articleshow/15295843.cmshttp://en.wikipedia.org/wiki/Sharad_Pawarhttp://www.iloveindia.com/indian-heroes/sharad-pawar.htmlhttp://www.ibef.org/industry/foodindustry.aspx%3cbr/http://www.ibef.org/industry/foodindustry.aspx%3cbr/http://www.amul.com/%3cbr/http://www.amul.com/%3cbr/http://www.fnbnews.com/article/detnews.asp?articleid=30083&sectionid=49%3cbr/http://www.fnbnews.com/article/detnews.asp?articleid=30083&sectionid=49%3cbr/http://www.fnbnews.com/redfr.asp?fn=/other/aboutus.asp&title=About%20Us%3cbr/http://in.reuters.com/article/2012/07/25/india-inditex-zara-idINDEE86O05J20120725http://articles.economictimes.indiatimes.com/2012-07-27/news/32889481_1_massimo-dutti-brand-pavers-england-inditexhttp://articles.economictimes.indiatimes.com/2012-07-27/news/32889481_1_massimo-dutti-brand-pavers-england-inditexhttp://articles.economictimes.indiatimes.com/2012-07-26/news/32869810_1_india-yamaha-motor-fz-big-bikeshttp://www.business-standard.com/india/news/bajaj-auto-expects-50sales-to-comeexports-in-3-yrs/179610/onhttp://in.reuters.com/article/2012/07/25/britain-economy-recession-idINDEE86O0K120120725http://www.bloomberg.com/news/2012-07-29/new-u-k-strategy-urged-as-triple-dip-recession-predicted.htmlhttp://timesofindia.indiatimes.com/business/international-business/Big-sporting-events-key-to-attracting-investment-say-emerging-economies/articleshow/15164862.cmshttp://timesofindia.indiatimes.com/business/international-business/Big-sporting-events-key-to-attracting-investment-say-emerging-economies/articleshow/15164862.cmshttp://www.ft.com/intl/cms/s/0/536c65e4-da79-11e1-902d-00144feab49a.html#axzz22BXWMIAnhttp://www.thedailybeast.com/articles/2012/07/30/do-the-olympics-boost-the-economy-studies-show-the-impact-is-likely-negative.htmlhttp://www.thedailybeast.com/articles/2012/07/30/do-the-olympics-boost-the-economy-studies-show-the-impact-is-likely-negative.htmlhttp://www.thedailybeast.com/articles/2012/07/30/do-the-olympics-boost-the-economy-studies-show-the-impact-is-likely-negative.htmlhttp://www.thedailybeast.com/articles/2012/07/30/do-the-olympics-boost-the-economy-studies-show-the-impact-is-likely-negative.htmlhttp://www.ft.com/intl/cms/s/0/536c65e4-da79-11e1-902d-00144feab49a.html#axzz22BXWMIAnhttp://timesofindia.indiatimes.com/business/international-business/Big-sporting-events-key-to-attracting-investment-say-emerging-economies/articleshow/15164862.cmshttp://timesofindia.indiatimes.com/business/international-business/Big-sporting-events-key-to-attracting-investment-say-emerging-economies/articleshow/15164862.cmshttp://www.bloomberg.com/news/2012-07-29/new-u-k-strategy-urged-as-triple-dip-recession-predicted.htmlhttp://in.reuters.com/article/2012/07/25/britain-economy-recession-idINDEE86O0K120120725http://www.business-standard.com/india/news/bajaj-auto-expects-50sales-to-comeexports-in-3-yrs/179610/onhttp://articles.economictimes.indiatimes.com/2012-07-26/news/32869810_1_india-yamaha-motor-fz-big-bikeshttp://articles.economictimes.indiatimes.com/2012-07-27/news/32889481_1_massimo-dutti-brand-pavers-england-inditexhttp://articles.economictimes.indiatimes.com/2012-07-27/news/32889481_1_massimo-dutti-brand-pavers-england-inditexhttp://in.reuters.com/article/2012/07/25/india-inditex-zara-idINDEE86O05J20120725http://www.fnbnews.com/redfr.asp?fn=/other/aboutus.asp&title=About%20Us%3cbr/http://www.fnbnews.com/article/detnews.asp?articleid=30083&sectionid=49%3cbr/http://www.fnbnews.com/article/detnews.asp?articleid=30083&sectionid=49%3cbr/http://www.amul.com/%3cbr/http://www.amul.com/%3cbr/http://www.ibef.org/industry/foodindustry.aspx%3cbr/http://www.ibef.org/industry/foodindustry.aspx%3cbr/http://www.iloveindia.com/indian-heroes/sharad-pawar.htmlhttp://en.wikipedia.org/wiki/Sharad_Pawarhttp://timesofindia.indiatimes.com/city/pune/Sharad-Pawars-supporters-unhappy/articleshow/15295843.cmshttp://articles.timesofindia.indiatimes.com/2012-07-27/india/32888324_1_sharad-pawar-supriya-sule-senior-ncp-leadershttp://www.hindustantimes.com/News-Feed/ColumnsOthers/What-s-the-deal-Mr-Pawar/Article1-903535.aspxhttp://www.dnaindia.com/india/report_congress-bends-to-sharad-pawar-ways_1719738http://timesofindia.indiatimes.com/topic/Sharad-Pawar/quoteshttp://en.wikipedia.org/wiki/Bajaj_Autohttp://www.bajajauto.com/bajaj_corporate.asphttp://www.business-standard.com/india/news/opportunity-in-failures/469453/http://great-indian-companies.blogspot.in/http://www.bsmotoring.com/news/motorcycles-will-drive-growth-in-two-wheeler-segment-not-scooters-rajiv-bajaj/5206/1http://articles.economictimes.indiatimes.com/2012-03-22/news/31225047_1_pulsar-150cc-100cc-rajiv-bajajhttp://www.bajajauto.com/profile/profile_rajiv.htmlhttp://economictimes.indiatimes.com/opinion/editorial/power-grid-collapse-political-spine-must-penalise-violation-of-grid-discipline/articleshow/15304731.cms%3cbr/http://economictimes.indiatimes.com/opinion/editorial/power-grid-collapse-political-spine-must-penalise-violation-of-grid-discipline/articleshow/15304731.cms%3cbr/http://economictimes.indiatimes.com/opinion/editorial/power-grid-collapse-political-spine-must-penalise-violation-of-grid-discipline/articleshow/15304731.cms%3cbr/http://www.firstpost.com/economy/why-you-should-prepare-for-more-power-grid-collapses-397813.html%3cbr/http://www.firstpost.com/economy/why-you-should-prepare-for-more-power-grid-collapses-397813.html%3cbr/http://www.bloomberg.com/news/2012-07-31/india-power-grid-collapses-for-second-time-in-two-days.html%3cbr/http://www.bloomberg.com/news/2012-07-31/india-power-grid-collapses-for-second-time-in-two-days.html%3cbr/http://en.wikipedia.org/wiki/2012_northern_India_power_grid_failure%3cbr/http://en.wikipedia.org/wiki/2012_northern_India_power_grid_failure%3cbr/http://news.outlookindia.com/items.aspx?artid=770516%3cbr/http://news.outlookindia.com/items.aspx?artid=770516%3cbr/http://www.tradingeconomics.com/india/business-confidence


17/18

http://economictimes.indiatimes.com/tech/internet/general-atlantic-in-talks-to-acquire-stake-in-snapdeal/articleshow/15285379.cmshttp://www.business-standard.com/india/news/flipkarts-competitors-tweak-inventory-based-model/481796/6) Job-snatcher turned employment generator Indian IT cos gain popularity in US- The Hindu/EThttp://www.thehindu.com/news/international/article3693255.ecehttp://articles.economictimes.indiatimes.com/2012-07-30/news/32942473_1_indian-companies-software-companies-localshttp://www.cxotoday.com/story/us-firms-generate-five-jobs-for-every-h-1b-visa-issued/7) ECB struggles to find formula for resolving Eurozone crisis-ET/Reutershttp://economictimes.indiatimes.com/news/international-business/euro-crisis-eurozone-unemployment-at-record-high-hope-fades-for-quick-ecb-cure/articleshow/15294235.cmshttp://in.reuters.com/article/2012/07/30/ecb-options-idINDEE86T0AN20120730?type=economicNews

8) RBIs SLR cut may force banks to lower the loan rates- Hindu Business Line/ BShttp://www.business-standard.com/india/news/slr-cut-may-reduce-bulk-deposit-rates/481987/http://business-standard.com/india/news/cut-in-repo-rate-would-have-sentwrong-signal-c-rangarajan/482042/http://www.thehindubusinessline.com/industry-and-economy/banking/article3708318.ece?homepage=true9) Its boom time for event management business in India- ET/ EEMAhttp://economictimes.indiatimes.com/news/news-by-company/corporate-trends/event-management-business-to-grow-50-in-2-years-study/articleshow/15286951.cmshttp://eemaindia.in/pdfs/white%20paper.pdf10) July auto sales up despite road-brakes- HT/The Hindu Business Linehttp://www.thehindubusinessline.com/companies/article3710897.ecehttp://www.hindustantimes.com/News-Feed/Auto/July-auto-sales-up-despite-woes/Article1-906683.aspxhttp://articles.economictimes.indiatimes.com/2012-08-01/news/32981232_1_maruti-suzuki-s-alto-small-car-low-cost-car11) China will approach the Lewis Turning Point (LTP) by decade-end: IMF- Imf.org/The Economisthttp://www.economist.com/node/13611235http://www.imf.org/external/pubs/ft/scr/2012/cr12195.pdf12) Panasonic posts first profits after a gap of six quarters- FT/Reuters

http://www.ft.com/intl/cms/s/0/328b67ec-dae9-11e1-8074-00144feab49a.html#axzz22MvVv9hNhttp://in.reuters.com/article/2012/07/31/panasonic-earnings-profits-idINDEE86U03Q2012073113) Bronze medal at Olympics might open golden gates of endorsements for Narang- ET/TOI/NDTV sportshttp://economictimes.indiatimes.com/news/news-by-industry/services/advertising/london-olympics-2012-gagan-narangs-winning-shot-may-hit-bulls-eye-in-advertisements/articleshow/15307708.cmshttp://sports.ndtv.com/othersports/badminton/item/193799-jwala-gutta-pips-saina-nehwal-in-popularity-chartshttp://articles.timesofindia.indiatimes.com/2012-07-31/gadgets-special/32961005_1_gagan-narang-milagrow-tablet

14) Indian brands with Foreign Labels on rise - EThttp://articles.economictimes.indiatimes.com/2012-07-27/news/32889547_1_indian-brands-foreign-brand-da-milano15) Global companies eager to enter India. FDI in multi-brand retail still uncertain Reuters/DNAhttp://in.reuters.com/article/2012/07/23/retailers-drop-on-multi-brand-reform-dou-idINDEE86M02Z20120723http://www.dnaindia.com/money/report_nitish-kumar-also-says-no-fdi-in-multi-brand-retail_1721805

http://www.thehindubusinessline.com/industry-and-economy/article3699676.ece

NeoCorner : Myntra.com1) http://www.business-standard.com/india/news/dressed-totee/413537/2) http://businesstoday.intoday.in/story/e-commerce-myntra-aims-to-dominate-fashion-merchandising/1/15058.html3) http://brandalyzer.wordpress.com/2011/08/20/myntra-com/4) http://yourstory.in/2012/02/myntra-com-targets-rs-500-crores-revenue-for-the-next-fiscal/5) http://yourstory.in/2009/11/mr-mukesh-bansal-founderceo-myntra-designs-pvt-ltd/6) http://dare.co.in/people/75-startups-you-can-bet-on/myntra.htm7) http://www.thesmartceo.in/magazine/cover-story/move-into-fashion-e-commerce.html8) http://business-standard.com/taketwo/news/struggling-to-survive-e-commerce-reinvents-itself/477266/9) http://www.afaqs.com/community/blog/index.html?blogID=130_Building+e-commerce+brands+the+FMCG+way10) http://www.indiadigitalreview.com/interviews/real-growth-ecommerce-india-will-come-tier-i-tier-ii-cities-mukesh-bansal-founder-ceo-myn11) http://www.thehindubusinessline.com/industry-and-economy/marketing/article2875570.ece12) http://www.business-standard.com/india/news/myntracom-targets-rs-500-cr-revenue/468553/

13) http://www.business-standard.com/india/news/myntra-plans-reach-rs-500-cr-sales-in-fy13/162446/on14) http://economictimes.indiatimes.com/news/news-by-industry/cons-products/fashion-/-cosmetics-/-jewellery/accel-tiger-to-pump-25-mn-more-into-myntra/articleshow/14661748.cms15) http://techcircle.vccircle.com/500/%E2%80%98myntra-aims-to-be-a-billion-dollar-biz-in-4-5-years%E2%80%99/16) http://www.nenonline.org/startup-profile/myntra-designs

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ctimes.indiatimes.com/news/news-by-industry/cons-products/fashion-/-cosmetics-/-jewellery/accel-tiger-to-pump-25-mn-more-into-myntra/articleshow/14661748.cmshttp://techcircle.vccircle.com/500/%E2%80%98myntra-aims-to-be-a-billion-dollar-biz-in-4-5-years%E2%80%99/http://techcircle.vccircle.com/500/%E2%80%98myntra-aims-to-be-a-billion-dollar-biz-in-4-5-years%E2%80%99/http://www.nenonline.org/startup-profile/myntra-designshttp://www.nenonline.org/startup-profile/myntra-designshttp://techcircle.vccircle.com/500/%E2%80%98myntra-aims-to-be-a-billion-dollar-biz-in-4-5-years%E2%80%99/http://techcircle.vccircle.com/500/%E2%80%98myntra-aims-to-be-a-billion-dollar-biz-in-4-5-years%E2%80%99/http://economictimes.indiatimes.com/news/news-by-industry/cons-products/fashion-/-cosmetics-/-jewellery/accel-tiger-to-pump-25-mn-more-into-myntra/articleshow/14661748.cmshttp://economictimes.indiatimes.com/news/news-by-industry/cons-products/fashion-/-cosmetics-/-jewellery/accel-tiger-to-pump-25-mn-more-into-myntra/articleshow/14661748.cmshttp://www.business-standard.com/india/news/myntra-plans-reach-rs-500-cr-sales-in-fy13/162446/onhttp://www.business-standard.com/india/news/myntracom-targets-rs-500-cr-revenue/468553/http://www.thehindubusinessline.com/industry-and-economy/marketing/article2875570.ecehttp://www.indiadigitalreview.com/interviews/real-growth-ecommerce-india-will-come-tier-i-tier-ii-cities-mukesh-bansal-founder-ceo-mynhttp://www.indiadigitalreview.com/interviews/real-growth-ecommerce-india-will-come-tier-i-tier-ii-cities-mukesh-bansal-founder-ceo-mynhttp://www.afaqs.com/community/blog/index.html?blogID=130_Building+e-commerce+brands+the+FMCG+wayhttp://business-standard.com/taketwo/news/struggling-to-survive-e-commerce-reinvents-itself/477266/http://www.thesmartceo.in/magazine/cover-story/move-into-fashion-e-commerce.htmlhttp://dare.co.in/people/75-startups-you-can-bet-on/myntra.htmhttp://yourstory.in/2009/11/mr-mukesh-bansal-founderceo-myntra-designs-pvt-ltd/http://yourstory.in/2012/02/myntra-com-targets-rs-500-crores-revenue-for-the-next-fiscal/http://brandalyzer.wordpress.com/2011/08/20/myntra-com/http://businesstoday.intoday.in/story/e-commerce-myntra-aims-to-dominate-fashion-merchandising/1/15058.htmlhttp://www.business-standard.com/india/news/dressed-totee/413537/http://www.thehindubusinessline.com/industry-and-economy/article3699676.ecehttp://www.dnaindia.com/money/report_nitish-kumar-also-says-no-fdi-in-multi-brand-retail_1721805http://in.reuters.com/article/2012/07/23/retailers-drop-on-multi-brand-reform-dou-idINDEE86M02Z20120723http://articles.economictimes.indiatimes.com/2012-07-27/news/32889547_1_indian-brands-foreign-brand-da-milanohttp://articles.timesofindia.indiatimes.com/2012-07-31/gadgets-special/32961005_1_gagan-narang-milagrow-tablethttp://sports.ndtv.com/othersports/badminton/item/193799-jwala-gutta-pips-saina-nehwal-in-popularity-chartshttp://economictimes.indiatimes.com/news/news-by-industry/services/advertising/london-olympics-2012-gagan-narangs-winning-shot-may-hit-bulls-eye-in-advertisements/articleshow/15307708.cmshttp://economictimes.indiatimes.com/news/news-by-industry/services/advertising/london-olympics-2012-gagan-narangs-winning-shot-may-hit-bulls-eye-in-advertisements/articleshow/15307708.cmshttp://in.reuters.com/article/2012/07/31/panasonic-earnings-profits-idINDEE86U03Q20120731http://www.ft.com/intl/cms/s/0/328b67ec-dae9-11e1-8074-00144feab49a.html#axzz22MvVv9hNhttp://www.imf.org/external/pubs/ft/scr/2012/cr12195.pdfhtt

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