Finland's largest newspaper does a story about Indian economy

Discussion in 'Economy & Infrastructure' started by jouni, Mar 24, 2015.

  1. jouni

    jouni Senior Member Senior Member

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    India takes a leap from the bottom

    The buzz around the Indian economy will accelerate. India hoped to finally the engine of the world economy, but the bottom is a tradition for decades of lost opportunities.


    A long time in India the increase was expected. The economy was opened and was renovated in the early 1990s, but the promises have remained unclaimed in spite of the occasional growth spurt.

    Now, the buzz around the Indian economy has picked up, while last year have risen to power the Prime Minister Narendra Modin reform program is under way. The world's leading newspapers The New York Times and The Economist are glowing for the last few weeks about the Indian economy.

    Among the emerging economies, India has performed favorably last year and this year. China's economic growth has slowed down. Brazil inflation to soar but the economy is not. Russia is suffering oil price decline.


    India's inflation rocked for a long time in his posh 10 per cent, but it has leveled off to about five per cent. Indian rupee currency exchange rate is stable. The current account is balanced, although it is still in deficit. Stock prices have risen Modin season a furious pace. International business interest in India has grown as Modi has taken a business-friendly reforms.

    Creates a strong foundation for young people. About half of the Indian population is under 25 years of age.

    "India is one of the few large economies where the population actually behind economic growth, if it does not spoil the policy," says the Bank of Finland Institute for Economies in transition advisor Jouko Rautava.

    Viewed from Finland, India's economy often appears as cheap IT professionals that take Finland to the outsourced work. What is clear, however, that the Indian economy will not rise by managing European corporate travel expenses excels.


    India's IT sector is too small, and the standard is too high, that it would be able to help tens of millions of the labor market in the coming years an avalanche of young population.

    India's Economy Minister Arun Jaitley, presented in February at the end of the new financial plan, which is expected to large. It is hoped lagging investment in translating growth and the repair of the damaged infrastructure.

    Jaitleyn the Indian economy will grow next year by 8.5 per cent annual rate of China's expected growth rate. The target is not unrealistic.

    Indian questionable economic advantage in the race is that the room for growth is enough. India's population is almost at the level of China, but its economy is only one-fifth of China's economy. Purchasing power parity Indian produce less than half of the Chinese year.

    Rautava, the difference between China and India is explained by the previous decades of economic policy.

    "The previous 30 years, the rise of China has been based on an export-driven economy. India has always been introverted," says Rautava.

    Repair in India is enough. Jungle of red tape burden on the economy, although Modin government has already tried to intervene. For example, land-use precise regulatory slows down the large-scale projects.

    Roads and other major infrastructure are in a deplorable condition. Power cuts are commonplace. Air and water are polluted. Banks are in bad shape.

    Corruption scandals have paralyzed the licensing processes. This uncertainty has increased, inter alia, the Supreme Court decision to cancel due to corruption in 1993-2010 granted mining permits.

    State income stream is narrow. The massive number of Indian small-scale trade to support themselves or odd jobs to formal banking and tax system outside.

    A narrow tax base has been found to patch dubious means. The New York Times mentioned the Nokia tax messes one example of how difficult and unpredictable, India has been the foreign companies. Nokia is in India for hundreds of millions of euros in tax controversy, which is why the Chennai factory is not transferred to Microsoft Nokia mobile phone business with. The factory was closed down.

    Finpro's internationalization Jukka Salo says that Finnish companies Sankat troops were the last time interest in India, 5-6 years ago.

    "Many companies ran into trouble when lack of flexibility. Expected reforms in India have not gone through," Salo says. Also, Nokia's tax problems brought down confidence to India.

    Salo, the attraction of India is again Modin's victory and the reform of the list of improving. India's large market and cheap labor opportunities offered have always been known.

    "If the reforms go through, Finnish companies' growing interest in" Salo anticipated
     
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  3. Mad Indian

    Mad Indian Proud Bigot Veteran Member Senior Member

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    Meanwhile back in India, no one gives a damn about Finland. Why would we?
     
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  4. jouni

    jouni Senior Member Senior Member

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    Isn´t it nice to know that 5 million Finns read positive article about India? Also Finnish TV is full of documentaries about India. You can expect tourism flow from here...
     
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  5. SafedSagar

    SafedSagar Regular Member

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    What type of documentaries?
     
  6. DingDong

    DingDong Senior Member Senior Member

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    What is the economic potential of closer India-Finland ties?
     
  7. Srinivas_K

    Srinivas_K Senior Member Senior Member

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    Ignore that troll , please !
     
  8. jouni

    jouni Senior Member Senior Member

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    Mainly travel and food documentaries. Exotic India, you know;). Mostly British made. India is on the rise, no doubt.
     
  9. jouni

    jouni Senior Member Senior Member

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    I think it is good. There is a talk about cleantech and other technical co-operation. About defense is also possible in the future. Indian company Mahindra also owns part of Finnish Holiday Club, Europes biggest timeshare holiday company. That is an intersting deal, maybe Finnish holiday concept will come to India. In any case it tells that middle class is on the rise in India.
     
  10. jus

    jus Senior Member Senior Member

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    Last edited: Mar 24, 2015
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  11. tarunraju

    tarunraju Moderator Moderator

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    Finland's only representation in India is now gone. Nokia. One wrong business move (choosing WP over Android), and it's gone.
     
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  12. jouni

    jouni Senior Member Senior Member

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    Finland forgot India - the economic almost the size of Russia

    The Russian market is unpredictable. Finnish companies it is therefore aggressively seek new markets. One of the big possibility is to India.

    Finpro Director Jukka Salo, the five or six years ago,in India was a lot in the focus. In recent years the tune has changed cautious. Among other things, the challenges faced by Nokia have contributed to India's attitudes.

    "A positive attitude to India needs to get back. India has a huge amount of opportunities that Finnish companies must recognize, "Salo says.

    India's gross domestic product is the world's tenth largest and proximity to Russia.

    "In Russia, the working class, however, the number of falls when it is growing in India. India will be by 2020, 130 million new people of working age, while the corresponding figure for China is only six million, "Gateway Technolabs Finland's President and CEO Pentti Heikkinen says.

    Gateway has announced a model that helps Finnish companies to go to the Indian market as well as to make decisions to go or not to go to India. The Indian market is difficult to go it alone, without the right information and contacts.

    "When I have spoken to in recent years, IT companies, many have gone dancing off to war, and did not understand the difference between Indian and Finnish project managers and programmers. If the differences are not aware of, things go horribly wrong, it is management, "Heikkinen says.

    All in all, India is, however, a western business culture.

    "You just have to be aware of certain pitfalls that get stuck in red tape, and things will not progress. Alone is not worth to go to the market, "Gateway Customer Services Anssi Seppänen more.

    Finnish able to lead
    Finpro offered previously paid consulting services to support the internationalization of enterprises and foreign market from going to support the decision. The current model of business internationalization support is free of charge, and Finpro, inter alia, aims to build a wide network of the Finnish consulting companies to support. Gateway is one of the many Finpro network members.

    "Finpro does not favor one operator but seeks to Finnish companies to discuss the rapidly choosing the right service providers and with the people," Salo says.

    Finpro's objective is that of Finnish SMEs in exports in total exports would increase significantly from current levels.

    What, then, is a small, Finland's strengths in a large technology professionals flooded in India?

    "Finnish self-direction and good management. We are part of them might actually appreciate, but they are still Finland's strengths, "says Heikkinen.

    "Indians are also not very hard to come up with things themselves. So, Finland, and should take bolder innovation forward, and at a much earlier stage, "Seppänen more ..



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    Finnish companies need new markets beaching help, for instance, how the company is set up to advise the limitations, taxes, bureaucracy and staff recruitment, as well as cultural differences. Gateway Seppänen according to Finnish companies should do more daring experiments and lowers the threshold for trying out new markets.

    "Now things are planned to continue in the drawer for too long."
     
  13. jouni

    jouni Senior Member Senior Member

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    You are totally right, NOKIA was a reminder to us that our business culture is relatively young in global league. I hope for NOKIA a comeback with Indian CEO Rajeev Suri ( Suri= to mourn in Finnish )
     
  14. Ray

    Ray The Chairman Defence Professionals Moderator

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    It is all about GREED and MONEY.

    China was reviled by the West, but today they lick China's toes!

    If they don't, then they will perish.
     
  15. jouni

    jouni Senior Member Senior Member

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    After coming to this forum I have become a little China fan, those chinese members I have "talked" to have been very nice and smart. I like how China is low key, not running Amok shouting about multipolar world.
     
  16. DingDong

    DingDong Senior Member Senior Member

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    Indian market is big enough to be attractive for large businesses. Cleantech and other technical co-ops are mini-steps, I am talking about something big and visible.

    Within next few years India's economy will be larger than Germany+Russia combined in real exchange rate. If Finland wishes to engage India then both countries will have to move beyond tourism and food and find something bigger.
     
    Last edited: Mar 24, 2015
  17. jouni

    jouni Senior Member Senior Member

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    Difficult to tell, now only really big Finnish companies are forestry companies. They have invested in China and South America. Maybe some day to India also.

    IMPROVED CONDITIONS AS STORA ENSO TAKES OVER THE CHENNAI MILL IN INDIA

    When you buy high-end consumer goods produced in Asia, such as electronics and healthcare products, chances are that the packaging is from Stora Enso Renewable Packaging's newly acquired mill in Chennai, located in the Tamil Nadu province of India.


    Chennai Mill in India
     
  18. Mad Indian

    Mad Indian Proud Bigot Veteran Member Senior Member

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    Yes, take this WKK's advice. You will be his new BFF now that his best fried @Neo has gone into hiding:laugh:

    I am not sure when Indians are stop going to bother with their constant need for approval from western countries and grow some self respect:frusty:
     
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  19. jouni

    jouni Senior Member Senior Member

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    How is the foreign food market in India? Finnish food is the cleanest in the world. Maybe you would love Mämmi or neulamuikut? We do not use many spices, only salt and and butter.

    [​IMG]
     
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  20. jouni

    jouni Senior Member Senior Member

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  21. Srinivas_K

    Srinivas_K Senior Member Senior Member

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    Some trolls are working overtime to piss off foreigners from this forum and also earn !
     
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