Indian Companies FY
|
|
- Anne Wright
- 7 years ago
- Views:
Transcription
1 TransnationalityRanking of Indian Companies FY September 22, 2013
2 Motivation Transnational Companies (TNCs) accounted for a quarter of the world s GDP (estimated at US$ trillion in ) Emerging Market Economies have become an important source of foreign investments for the rest of the world contributing 29% of total Outward FDI (estimated at US$ 1.24 trillion in 2010) 2 Indian companies have internationalized rapidly over the last decade and Outward FDI has grown over 17 times in this period Increased interest on this phenomenon across the world among scholars and practitioners Source: 1. UNCTAD World Investment Report Visit for more information. 2. UNCTAD World Investment Report 2011
3 Globalization by BRICs Trends Source: OECD Economic survey report
4 Globalization by India India was ranked 21 in the world in 2010 (OFDI) Trends Outward FDI from India (in USD Billion) Global economic crisis reduced OFDI by 26% in as compared to The total OFDI outflow in FY as on estimated to be only US$ 8.8 Billion Equity 15.4 Loan Source: Department of Economic Affairs, Ministry of Finance and RBI How will Indian companies respond to the uncertain economic conditions?
5 Globalization by India Geographies Geographical Spread of OFDI is expanding to developed countries as well Indian companies are expanding into developed countries primarily through the M&A route Geographical Spread: OFDI Geographical Spread: M&A % 4% 3% 6% 13% 23% 14% Singapore * Mauritius Netherlands USA UAE UK Others 29% 3% 17% 11% 21% 19% United States Canada UK EU Singapore Others Source: Zephyr Database by Orbis * Mauritius attracts a large part of the OFDI as it is a tax haven and a channel through which most Indian companies fund their overseas expansion.
6 Globalization by India Industry Segments Manufacturing (Metals, Petroleum Products, Auto & Auto Components, Pharmaceuticals and Energy) and Non Financial Services (Software and BPO) account for almost 70% of total OFDI Contribution of Software and Business Services grown initially, but has substantially reduced over the last 5 years Trends show internationalization to be an industry-wide phenomenon in Pharmaceuticals, and Software and Business services Internationalization in other industries is dominated by a few key players Sector Manufacturing 73% 72% 53% 72% 60% 25% 44% 55% 39% 30% Financial Services 2% 0% 2% 0% 6% 0% 0% 1% 1% 1% Non Financial Services 19% 19% 30% 20% 25% 55% 12% 19% 32% 39% Trading 5% 5% 5% 3% 5% 8% 3% 6% 8% 11% Others 2% 4% 9% 5% 5% 12% 41% 19% 20% 19% Total (in US$ Mn) 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Source: Department of Economic Affairs, Ministry of Finance and RBI
7 About the Study Study by ISB in collaboration with FDC, Brazil This study was second in a series to systematically rank Indian companies using a globally accepted measure of internationalization, viz., the Transnationality Index (TNI) Enables comparison of Indian TNCs with each other as well as with other global companies from different countries
8 Methodology The Trans-Nationality Index (TNI) Combination of three measures o Percentage of International Assets to Total Assets o Percentage of International Revenues to Total Revenues o Percentage of Overseas Employees to Total Employees Multi-dimensionality of the index accounts for variations in indicators across industries and across geographies Study is a combination of primary and secondary research as some measures are not publicly disclosed by firms * 28 of the top 50 companies participated in the survey
9 Methodology Secondary Sources: CMIE s Prowess and S&P s Capital IQ Secondary data used to identify a set of potential firms for the study Of the Top 100 firms ranked by consolidated international assets, Top 50 were targeted for primary research Primary Research: Questionnaire based survey administered to CXO level employees* * 28 of the top 50 companies participated in the survey. We expect response rate to pick up over the next few years as the companies more familiar with TNI-based rankings
10 Key Findings Ranking by TNI (A) Top 15 companies by TNI with International asset base >= US$ 500 Mn Rank - FY 12 Rank - FY11 Name of Company TNI Revenue FY Assets FY Employees FY Total Foreign Total Foreign Total Foreign 1 NR ONGC Videsh 77% Tata Steel 63% 1, , ,622 45, Tata Global Beverages 60% , Motherson Sumi Systems 60% ,208 15, HCL Technologies 57% ,319 15,201 6 NR Tata Communications 56% ,954 2, Hindalco Industries 55% ,600 12, Suzlon Energy 55% ,951 4, Tata Motors 53% 1,657 1,115 1, ,759 18, Dr.Reddy's Laboratories 49% ,200 3, Jubilant Life Sciences 47% ,327 1, Tata Consultancy Services 44% ,583 17, Infosys 44% ,994 10, Punj Lloyd 43% ,442 5, Tata Chemicals 40% ,746 1,576 * Data obtained from secondary sources : Capital IQ: Sum of employees in subsidiaries outside India
11 Key Findings Ranking by TNI (A) In Current year s ranking, the state owned company ONGC Videshhas displaced Tata Steel as the most Internationalised large company. The top 10 companies have a TNI of more than 50% which is comparable to transnational corporations from the developed countries The majority of the companies in our list are affiliated to business groups a phenomenon unique to emerging economies - with the Tata group companies dominating the list Most of the firms have followed a strategy of inorganic growth through aggressive overseas acquisitions in the past few years
12 Key Findings Overview and Trends Overview of the Top 15 Transnational Companies by TNI FY10 FY11 FY12 Growth over FY10 Growth over FY11 Revenue Total 4,109 4,867 6,007 18% 23% India 1,051 1,257 1,492 20% 19% International 3,058 3,610 4,514 18% 25% International/Total 74% 74% 75% Assets Total 3,943 4,740 5,807 20% 23% India 1,591 2,030 2,509 28% 24% International 2,352 2,710 3,298 15% 22% International/Total 60% 57% 57% Employee Total 595, , ,169 15% 13% India 474, , ,089 15% 14% International 121, , ,080 13% 12% International/Total 20% 20% 20% Revenue and assets numbers in INR billion
13 Key Findings Overview and Trends Regional Split (average) of international Revenue, Assets and Employees for Top 15 TNCs Average distribution North America % Europe % Others % Total International % International Revenues International Assets International Employees
14 Key Findings Ranking Companies by Geographical Diversification Overview and Trends RANK REVENUES ENTROPY RANK ASSETS ENTROPY RANK EMPLOYEES ENTROPY SCORE SCORE SCORE 1 Tata Global Beverages Hindalco Industries Hindalco Industries Hindalco Industries Tata Global Beverages Tata Chemicals Tata Communications HCL Technologies Suzlon Energy Dr.Reddy's Laboratories Tata Chemicals Tata Communications Jubilant Life Sciences Tata Communications Tata Global Beverages Tata Motors Dr.Reddy's Laboratories Core Education & Technologies Glenmark Pharmaceuticals Tata Motors Mastek Suzlon Energy Glenmark Pharmaceuticals Emmsons International Tata Consultancy Services Suzlon Energy Tata Motors HCL Technologies Infotech Enterprises Infosys 0.7 Source: ISB- FDC Transnational Companies Survey,
15 Key Findings Overview and Trends A highly geographically diversified company earns its revenue from multiple geographical regions of the world, and therefore better able to spread its revenue risk by not being overly dependent on any geographical market. A less diversified company will have its revenue concentrated in one or two geographical regions. Based on the entropy score, Tata Global Beverages is the most geographically diversified company in terms of revenue, while HindalcoIndustries is the most diversified in terms of assets and employees.
16 Globalization by India Acquisitions increased 180 substantially since , peaking at acquisitions in 2008, 120 but have slowed down over the last three 100 years 80 Indian TNCs show a tendency for direct acquisition rather than minority acquisitions and joint ventures Mergers & Acquisitions Number of Overseas Acquisitions Majority Stake Source: Zephyr Database by Orbis
17 165 Other Overseas Acquisitions Number of overseas Acquisitions by Industry Agriculture Financial Services Metal and mining Wholesale & retail trade Machinery & Equipment Chemicals, pharma & other non metallic Software and business services Source: Zephyr, Bureau Van Dijk sm&a database
18 Key Motivations Firms undertake acquisitions for four broad reasons Penetrate new markets or maintain existing one (Market seeking) Acquire factors of production, primarily natural resources (Resource- seeking) To increase efficiency (Efficiency seeking) Acquire knowledge assets such as brands, patents and relationship with clients (Asset seeking) Asset Seeking Efficiency Seeking Resource Seeking Market Seeking Note: The figure shows response to the question: For the following completed acquisition, please indicate your company's motivation for undertaking the named acquisition: 1= not a motivation at all, 5= primary motivation Source: ISB-FDC Transitional Companies Survey,
19 Key Motivations The four distance factor s (Economic, Geographic, Administrative & Cultural )do not have significant influence in acquisitions decisions. Market seeking and assetseeking considerations precede over distance considerations Indian companies showed a high preference for investing in the developed countries of North America and Europe Influence of Distance Factors on Overseas Acquisitions Economic Distance Geographic Distance Adminstrative Distance Cultural Distance The figure shows response to the question: For each of the following completed cross-border acquisitions, how important were the following "acquisition target country specific" factors in influencing the acquisition decision? 1=Not a factor at all, 5=very important factor Source: ISB FDC transnational Companies Survey,
20 Post-Acquisition Integration Partnering approach to integration In about 63% of acquisitions, the acquired companies were kept separate and not absorbed by the acquirers. In about 97% of the cases the top management team of the acquired company retained; in about 95% of the cases, the retained team was also accorded a high level of autonomy in managing operations. In 70% of the acquisitions, the acquirer preferred a gradual pace of integration over a rapid one.
21 Acquisition Performance Results suggest that top Indian TNCs are reasonably satisfied with the outcome of their cross border acquisitions. Operational and Financial Performance Overall Performance 3.9 Operational Performance 4.0 Financial Performance Note: The figure shows responses to the question: For each of the following completed cross-border acquisitions, please rate your company's level of satisfaction with theacquisition performance on financial, operational and overall measures: (1=very dissatisfied, 5= very satisfied) Source: ISB-FDC Transnational Companies Survey,
22 Future Plans A Comparative study of Indian and Brazilian TNCs in collaboration with partner school FDC, Brazil Future studies to include insights on the geographic spread of TNCs, modes of entry and so on Collaborations underway to conduct TNI surveys in Russia and China, so that comparative analysis can be carried out among TNCs from BRIC countries a pioneering attempt in this domain Exclusive study on how service multinationals differ from manufacturing MNCs
Comparing Chinese Investment into North America and Europe
Comparing Chinese Investment into North America and Europe 1 EXECUTIVE SUMMARY Chinese outbound foreign direct investment (OFDI) has grown rapidly in recent years and is increasingly flowing to high-income
More informationInternational Business Environment THE MULTINATIONAL CORPORATIONS ARE ALSO KNOWN AS:
Chapter No. 4 Page No. 210 MULTINATIONAL CORPORATIONS / ORGANIZATIONAL MODELS THE MULTINATIONAL CORPORATIONS ARE ALSO KNOWN AS: INTERNATIONAL CORPORATIONS. TRANSNATIONAL CORPORATIONS. GLOBAL CORPORATIONS.
More informationIndian Financial Sector: Outlook and Opportunities. December 1, 2006
Indian Financial Sector: Outlook and Opportunities December 1, 2006 Economic backdrop Demographic forces Continued expansion of services sector GDP growth of over 8% Resurgent industrial sector Untapped
More informationHow international expansion is a driver of performance for insurers in uncertain times
How international expansion is a driver of performance for insurers in uncertain times Accenture Global Multi-Country Operating Model Survey May 2009 Copyright 2009 Accenture. All rights reserved. Accenture,
More informationEXPORT-IMPORT BANK OF INDIA: Catalysing India s Trade and Investment. July 01, 2015
EXPORT-IMPORT BANK OF INDIA: Catalysing India s Trade and Investment July 01, 2015 INDIAN ECONOMY SNAPSHOT PARAMETER FY 2010 FY 2013 FY 2014 FY 2015 GDP (current prices, US$ bn) 1365.4 1835.8 1875.9 2050.6
More informationChapter 2 Competitiveness of Japanese Companies
Chapter Competitiveness of ese Companies Section Profitability and productivity of manufacturing ese stand at a low level in profitability, behind which lies their low profit margin on sales. Profitability
More informationRole of transnational corporations in the international trade
Monika Wyrzykowska, Ph.D. Torun School of Banking Role of transnational corporations in the international trade Abstract The main aim of this paper is to assess the role of transnational corporations in
More informationTAZEEM PASHA MANAGER, BUSINESS RETENTION AND EXPANSION SELECTUSA U.S. DEPARTMENT OF COMMERCE
TAZEEM PASHA MANAGER, BUSINESS RETENTION AND EXPANSION SELECTUSA U.S. DEPARTMENT OF COMMERCE Tazeem Pasha serves as Manager, Business Retention and Expansion at SelectUSA. Established by Executive Order
More informationTata Group An Overview
Tata Group An Overview http://www.youtube.com/user/tatacompanies?feature=watch Our Group Chairman Statement "One hundred years from now, I expect the Tata s to be much bigger than it is now. More importantly,
More informationInvesting in the United States Tazeem Pasha
Investing in the United States Tazeem Pasha Embassy of Spain and ICEX Seminar on Financing Opportunities forspanish Companies and Projects in the United States By Tazeem Pasha Monday, 19 March 2012 Washington,
More informationInternational Education Index comparative perspective from 21 countries. Janet Ilieva, PhD EDUCATION INTELLIGENCE
International Education Index comparative perspective from 21 countries Janet Ilieva, PhD Background Rapid growth in participation in tertiary education across the world, in the number of students pursuing
More informationMeasuring Business Process Outsourcing
Measuring Business Process Outsourcing Survey on Computer Software and Information Technology Enabled Services Export from India Regional Seminar on International Trade Statistics Nov 3 6, 2014 New Delhi
More informationGLOBAL TRENDS IN OFFSHORING AND OUTSOURCING
International Journal of Business and Social Science Vol. 2 No. 16; September 11 ABSTRACT GLOBAL TRENDS IN OFFSHORING AND OUTSOURCING Nora Palugod, Ph. D. Assistant Professor of Business The Richard Stockton
More informationIndian software industry
By: Dr A. Subbiah, Dr K. Navaneethakrishnan and S. Jeyakumar The Indian Software Industry Continues to Grow The global slowdown may have little impact on India s IT industry, which is projected to grow
More informationInternational Investment. Australia. Economic Diplomacy, Trade Advocacy and Statistics Section Department of Foreign Affairs and Trade September 2015
International Investment Australia 214 International Investment Australia 214 Economic Diplomacy, Trade Advocacy and Statistics Section Department of Foreign Affairs and Trade September 215 ISSN 223-6571
More informationInvesting in the United States
Investing in the United States 13 May 2015 ehealth Week 2015 Global Markets: Tools for Transatlantic Trade Kim Tuminaro Senior Trade Officer U.S. Department of State SelectUSA.gov U.S. Investment and Business
More informationTracking UK Foreign Direct Investment (FDI) into selected overseas economies Phase I report
Tracking UK Foreign Direct Investment (FDI) into selected overseas economies Phase I report Joint Nature Conservation Committee May 2008 Contents 1. Summary 2. Background and project objectives 3. Data
More informationTHE RISE OF BRICS FDI AND AFRICA HIGHLIGHTS
SPECIAL EDITION 25 March 2013 UNEDITED VERSION THE RISE OF BRICS FDI AND AFRICA HIGHLIGHTS BRICS (Brazil, the Russian Federation, India, China and South Africa) have emerged as major recipients of FDI
More informationCountry trade view Italy. Trends in global trade
Country trade view Italy Trends in global trade Summary Italy is a significant player in world trade. In 2014, it was the eleventh-largest importer and the ninth-largest exporter in the world. Italy comprises
More informationMAHINDRA CIE AUTOMOTIVE
MAHINDRA CIE AUTOMOTIVE June 2013 Industrial Group specialized in Managing High Value Added Processes 1 Table of Contents 1 Introduction to the Mahindra CIE Alliance 2 Rationale for the Alliance 3 Introduction
More informationeducation. In contrast, workers engaged in fishing worked an average of 61.7 hours per
THAILAND 40,000 Fig. 1: Employment by Major Economic Activity ('000s), 2002-2008 Agriculture, Forestry, Agriculture, Forestry & 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 2002 2004 2006 2008 Mining
More informationInsurance. International expansion and Australia-based insurers: The race is on
Insurance International expansion and Australia-based insurers: The race is on Australia s insurance markets are tough due to their mature and competitive nature. However, they also boast stability and
More informationForeign Direct Investment in the United States 2014 Report
Foreign Direct Investment in the United States 2014 Report ORGANIZATION FOR INTERNATIONAL INVESTMENT 1225 NINETEENTH STREET, NW, SUITE 501 WASHINGTON, DC 20036 WWW.OFII.ORG 202.659.1903 Overview Foreign
More informationThe United Kingdom. Background Note
The United Kingdom Background Note UK ECONOMY The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the past two decades, the government
More informationHow To Understand The Economic Benefits Of Foreign Direct Investment In The United States
EXECUTIVE OFFICE OF THE PRESIDENT COUNCIL OF ECONOMIC ADVISERS U.S. INBOUND FOREIGN DIRECT INVESTMENT JUNE 211 EXECUTIVE SUMMARY The United States welcomes the investment and the jobs supported by the
More informationForeign Direct Investment in the Form of Mergers & Acquisitions in the Indian Retail Sector
1 Foreign Direct Investment in the Form of Mergers & Acquisitions in the Indian Retail Sector Prof. Dr. Christopher B. Kummer 1 and Prof. Ashok Dubey 2 Abstract Given the market attractiveness of the Indian
More informationTHE DYNAMIC INDIAN FOREIGN INVESTMENT REGULATORY REGIME. February 2011
THE DYNAMIC INDIAN FOREIGN INVESTMENT REGULATORY REGIME February 2011 THE DYNAMIC INDIAN FOREIGN INVESTMENT REGULATORY REGIME February 2011 Contents Indian economy Overview of the regulatory framework
More informationDirect Investment Flows Between South America and Africa
ISSN 2222-4823 Direct Investment Flows Between South America and Africa Katarina Pereira da Costa Con el apoyo de: SerieBrief # 98 Mayo 2015 Direct Investment Flows between South America and Africa Katarina
More informationDeliverable 7: Analysis Report
Internationalisation of business investments in R&D and analysis of their economic impact Contract Nr. RTD/DirC/C3/2010/SI2.563818 Deliverable 7: Analysis Report May 2012 Bernhard Dachs, Doris Hanzl-Weiss,
More informationHow To Invest In Panin Life
June 4 th 2013 Koichiro Watanabe President and Representative Director The Dai-ichi Life Insurance Company, Limited Code: 8750 (TSE First section) Investment in an Indonesian Life Insurance Company, PT
More informationInternational investment continues to struggle
FDI IN FIGURES December 2014 International investment continues to struggle Figures for the first half of 2014 point to stalled FDI flows Findings FDI fell in the first quarter of 2014 before rebounding
More informationDCC Overview DCC is an international sales, marketing, distribution and business support services group operating across four divisions
Company Overview DCC Overview DCC is an international sales, marketing, distribution and business support services group operating across four divisions Profit by division * Profit by geography * 14% 4%
More informationManagement Policies of Nippon Express. March 2007
Management Policies of Nippon Express March 2007 1. Our Group's Business Framework 1. Our Group's Business Framework Nippon Express Group Overseas Japan Asia-Oceania Europe Americas Domestic transport
More informationThe rise of the cross-border transaction. Grant Thornton International Business Report 2013
The rise of the cross-border transaction Grant Thornton International Business Report 2013 Foreword MIKE HUGHES GLOBAL SERVICE LINE LEADER MERGERS & ACQUISITIONS GRANT THORNTON INTERNATIONAL LTD When reflecting
More informationHigher FDI in Indian Insurance sector a buzz for the industry
Higher FDI in Indian Insurance sector a buzz for the industry The view from Transactions and Restructuring By Sam Evans, Global Insurance Transactions and Restructuring Lead, KPMG in Switzerland, Shashwat
More informationGlobalization of R&D Drivers and success factors. Study. Stuttgart, June 2007. Study Globalization of R&D_Long Version 1
Globalization of R&D Drivers and success factors Study Stuttgart, June 2007 Study Globalization of R&D_Long Version 1 Content A. Management summary 3 B. Key questions and study approach Analysis of current
More informationForeign Direct Investment in the United States 2013 Report
Foreign Direct Investment in the United States 2013 Report ORGANIZATION FOR INTERNATIONAL INVESTMENT 1225 NINETEENTH STREET, NW, SUITE 501 WASHINGTON, DC 20036 WWW.OFII.ORG 202.659.1903 Overview Foreign
More informationCOMPUTER SOFTWARE/SERVICES AND ITeS EXPORTS
COMPUTER SOFTWARE/SERVICES AND ITeS EXPORTS OVERVIEW In recent times, Software development and information technology enabled services (ITeS) including business process outsourcing (BPO)/ knowledge process
More informationNews Release April 29, 2016. Performance Review: Quarter ended March 31, 2016
News Release April 29, Performance Review: Quarter ended March 31, 16% year-on-year growth in domestic advances; retail portfolio crossed ` 2,00,000 crore (US$ 30.2 billion) during the quarter ended March
More informationSUNDARAM ASSET MANAGEMENT
SUNDARAM ASSET MANAGEMENT 1 Quick background Headquartered in Chennai (India) with offices in Singapore and Dubai Wholly owned by the prestigious Sundaram Finance Limited Has 17 years of experience in
More informationTABLE OF CONTENTS. 1. Global Education Sector and Reform. 1.1 Market Overview and Size. 1.2 Initiatives to Boost Education Industry
1 TABLE OF CONTENTS 1. Global Education Sector and Reform 1.1 Market Overview and Size 1.2 Initiatives to Boost Education Industry 1.3 Global Tertiary Education Development 1.3.1 Student Population 1.3.2
More informationRENMINBI - A NEW SETTLEMENT CURRENCY WAS BORN
BUDAPEST RENMINBI INTITIATIVE PAPERS No1 RENMINBI - A NEW SETTLEMENT CURRENCY WAS BORN Author: Szilárd Erhart, Head of th MNB s Renminbi Project, Central Bank of Hungary While China s weight in international
More informationEntry Into The Canadian Market
Entry Into The Canadian Market Setting up a Business in Canada: For organizations looking to enter into a developed market, Canada is a great place to be. It is a well-developed nation with investor friendly
More informationForeign Direct Investment in Automobile Industry
ISSN: 2347-3215 Volume 1 Number 3 (2013) pp. 33-37 www.ijcrar.com Foreign Direct Investment in Automobile Industry T. Rajesh 1 and A.S. Dileep 2* 1 Department of Commerce, Govt College, Ambalapuzha, India
More informationBenchmarking Travel & Tourism Global Summary
Benchmarking Travel & Tourism Global Summary How does Travel & Tourism compare to other sectors? Sponsored by: Summary of Findings, November 2013 Outline Introduction... 3 Summary of research structure..
More informationFrench Direct Investment and the FDI divide
France s inward foreign direct investment from 25 to 211 Dominique Nivat and Bruno Terrien Business Surveys and Statistics Division Foreign Direct Investment Unit Inflows of foreign direct investment (FDI)
More informationGlobal Sector. How does Travel & Tourism compare to other sectors? GDP. Global Direct GDP. Global GDP Impact by Industry
Global Sector Agriculture Automotive Banking Chemicals Communications Education Financial Mining Other Service Manufacturing Manufacturing Services Exports Retail (without wholesale) Total Economy Travel
More informationINVESTMENT PROMOTION, STRATEGIES, POLICIES AND PRACTICES MALAYSIA S EXPERIENCE
INVESTMENT PROMOTION, STRATEGIES, POLICIES AND PRACTICES MALAYSIA S EXPERIENCE OECD China Conference on Foreign Investment 11 12 September 2000 Xiamen, People s Republic of China By Kaziah Abdul Kadir
More informationOverseas Business Strategy
Panasonic IR Day 2014 Overseas Business Strategy May 21, 2014 Panasonic Corporation Yoshihiko Yamada Notes: 1. This is an English translation from the original presentation in Japanese. 2. In this presentation,
More informationHow to improve the Banco Santander Brasil business model by analyzing opportunities of Cross Sell
Case Study - 2012 How to improve the Banco Santander Brasil business model by analyzing opportunities of Cross Sell Is it possible to increase client relationship efficiency and revenue by collect, analyze
More informationTHE INTERNATIONALIZATION OF FIRMS FROM INDIA: INVESTMENT, MERGERS AND ACQUISITIONS. Deepak Nayyar
University of Oxford Department of International Development SLPTMD Working Paper Series No. 004 THE INTERNATIONALIZATION OF FIRMS FROM INDIA: INVESTMENT, MERGERS AND ACQUISITIONS Deepak Nayyar THE INTERNATIONALIZATION
More informationStrategy & the firm. Value creation. Value creation
1 Strategy & the firm Strategy: actions that managers must take to attain the goals of the firm Main goal usually to maximize long- term profit (П)( Profitability defined by return on sales or return on
More informationNews Release January 28, 2016. Performance Review: Quarter ended December 31, 2015
News Release January 28, 2016 Performance Review: Quarter ended December 31, 20% year-on-year growth in total domestic advances; 24% year-on-year growth in retail advances 18% year-on-year growth in current
More informationIndex. Copyright material from - licensed to npg - PalgraveConnect - 2016-09-16
Index AMIA (Mexican Association of the Automotive Industry), 90, 108 automobile demand ageing of population, 9 emerging economies, 206 7 financing, 8 post-recession, 1 2 role of income distribution and
More informationMS&AD Insurance Group Holdings 2 nd Information Meeting of FY 2015 (Held on November 25, 2015) Q&A Session Summery
MS&AD Insurance Group Holdings 2 nd Information Meeting of FY 2015 (Held on November 25, 2015) Q&A Session Summery Below is a summery of Q&A session from the Information Meeting held on November 25, 2015
More informationNetscribes (India) Pvt. Ltd.
Netscribes (India) Pvt. Ltd. http://www.marketresearch.com/netscribes India Pvt Ltd v3676/ Publisher Sample Phone: 800.298.5699 (US) or +1.240.747.3093 or +1.240.747.3093 (Int'l) Hours: Monday - Thursday:
More informationCHAPTER I INTRODUCTION AND DESIGN OF THE STUDY
Chapter I xxvi CHAPTER I INTRODUCTION AND DESIGN OF THE STUDY Chapter No. Description Page No. 1.2 INTRODUCTION 1 1.2 STATEMENT OF THE PROBLEM 2 1.3 OBJECTIVES OF THE STUDY 3 1.4 SIGNIFICANCE OF THE STUDY
More informationGlobal Insurance CONTENTS. Report Synopsis. Industry Surveys. March 2006. 1. Executive Summary 10. 2. Highlights 12
Industry Surveys Global Insurance www.reportsure.com March 2006 Report Synopsis In 2004 insurance premiums accounted for nearly 8% of global GDP, with a value of USD 3,244 billion. The industry grew by
More informationChart 1: Zambia's Major Trading Partners (Exports + Imports) Q4 2008 - Q4 2009. Switzernd RSA Congo DR China UAE Kuwait UK Zimbabwe India Egypt Other
Bank of Zambia us $ Million 1. INTRODUCTION This report shows Zambia s direction of merchandise trade for the fourth quarter of 2009 compared with the corresponding quarter in 2008. Revised 1 statistics,
More informationIndo-German Investments & Cooperation
Indo-German Investments & Cooperation FDI inflows set to grow in 2010-2011 The importance of foreign direct investment (FDI) for the development and the well-being of an economy is well accepted. In the
More informationGlobal Exhibition on Services
Ministry of Commerce & Industry Global Exhibition on Services Concept Note 1 GES Concept Note Global Exhibition on Services (GES) - Concept Note The Government of India, Ministry of Commerce and Industry
More informationDevelopmental Patterns of Offshore IT Service Companies
DEVELOPMENTAL PATTERNS OF OFFSHORE IT SERVICE COMPANIES: APPLICATION OF INFORMATION TECHNOLOGY VALUE CHAIN George Mangalaraj, College of Business, University of Texas at Arlington, Arlington, TX 76019
More informationTrinidad and Tobago. Table 1: GDP Value Added by Industry (Million Dollars, Constant Prices) & % Share in Total Value Added
TRINIDAD AND TOBAGO 600 Fig. 1: Employment by Major Economic Activity ('000s), 2000-2008 Agriculture, Hunting, Forestry and Fishing Community, Social & Personal 500 400 300 200 100 100,000 90,000 80,000
More informationFinancial Services. Investor Day
Financial Services 2010 Investor Day at a Glance Global presence As of September 30 New retail financing Managed assets Employees Portfolio (in units) SEK 24.5 bn SEK 90.9 bn 1,230 180,100 Portfolio Contract
More informationCanada s Trade Performance
CRD Working Paper Canada s Trade Performance An Examination of Eight Indicators Dylan Moeller EDC August 1, 2012 Table of Contents Executive Summary... 3 1. Export growth... 5 2. Import growth... 6 3.
More informationRole of Foreign Direct Investment in the Development of Indian Economy
Role of Foreign Direct Investment in the Development of Indian Economy *Kali Ram Gola ** Mridul Dharwal *** Ankur Agarwal Abstract FDI refers to capital inflows from abroad that are invested in or to enhance
More informationThe presentation and paper p that will follow is within the VISION practice on the universities of the future available at
New perspectives for Master Study Programs in Europe The opportunities of internationalization and the case of the MBA 25, October 2011 BOLOGNA SEMINAR BERLIN 1 The presentation and paper p that will follow
More informationGlobalization & Economic Geography
2013-10-30 Globalization & Economic Geography Ramsin Yakob, PhD ramsin.yakob@liu.se IEI/Linköpings Universitet What is Globalization or the Globalization process? What is International Business or the
More informationOutsourcing EntEring a new phase R. Nagesh.
26 Entering a Outsourcing new phase The Indian outsourcing sector continues to expand at a steady pace as Indian ITeS players seek out new geographies, besides acquiring international firms. A report by
More informationThe Global Chemical Industry: US, China and Global Status and Opportunities, 2015
The Global Chemical Industry: US, China and Global Status and Opportunities, 2015 August 28, 2005 American Chemical Society Martha Gilchrist Moore Moore Economics mmoore@mooreeconomics.com Opportunities
More informationAustralia s position in global and bilateral foreign direct investment
Australia s position in global and bilateral foreign direct investment At the end of 213, Australia was the destination for US$592 billion of global inwards foreign direct investment (FDI), representing
More informationRoad Assistance in Europe
Road Assistance in Europe Series prospectus for an overview plus ten country-specific reports AUSTRIA, BELGIUM, FRANCE, GERMANY, ITALY, NETHERLANDS, POLAND, SPAIN, SWITZERLAND, UK July 2013 Finaccord Ltd.,
More informationMacquarie Group Limited (MQG): Company Profile and SWOT Analysis
Brochure More information from http://www.researchandmarkets.com/reports/2309651/ Macquarie Group Limited (MQG): Company Profile and SWOT Analysis Description: "Macquarie Group Limited (MQG) : Company
More informationRMB Internationalization & Hong Kong. Graham Coker Trade Director, Transaction Services UK & Ireland
RMB Internationalization & Hong Kong Graham Coker Trade Director, Transaction Services UK & Ireland RMB Internationalisation China s Market Reform Agenda RMB is called CNY onshore and CNH offshore. Hong
More informationList of Top 100 BSE and NSE Listed companies arranged by Sector
List of Top 100 BSE and NSE Listed companies arranged by Sector Company Name Industry NSE 100 / BSE 100 Already Report? Level of GRI Latest Reporting Report Ashok Leyland Ltd. Automobiles NSE 100 / BSE-100
More informationStrategic Management: Concepts and Cases 9e
Strategic Management: Concepts and Cases 9e Part II: Strategic Actions: Strategy Formulation Chapter 8: International Strategy 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or
More informationHEALTHCARE IT OUTSOURCING MARKET
Healthcare IT HEALTHCARE IT OUTSOURCING MARKET By Application [Provider (EHR, RCM, LIMS) Payer (CRM, Claims Management, Fraud Detection, Billing) Life Science (ERP, CTMS, CDMS) Operational (SCM, BPM) &
More informationForeign Investments flow in Insurance Sector in 2016
Foreign Investments flow in Insurance Sector in 2016 (January 2016) The Associated Chamber of commerce and Industry of India Executive Summary Foreign investment of over Rs 12,000 crore is expected to
More informationMagda Salarich Head of Santander Consumer Finance
Magda Salarich Head of Santander Consumer Finance Santander Consumer Finance S.A. ( Santander Consumer Finance ) and Banco Santander, S.A. ("Santander") both caution that this presentation contains forward-looking
More informationForeign Direct Investment
Germany Reports Record High of New Investment Projects Germany is a very attractive location for foreign investors. Germany Trade & Invest (GTAI) and the economic development agencies of the German Federal
More informationNotes to the consolidated financial statements continued
195 plc 4 Segmental information The Group s results can be segmented, either by activity or by geography. Our primary reporting format is on regional reporting lines, with supplementary information given
More informationSome remarks on the university evaluation from a viewpoint of private universities. Norikazu Kudo Keio University At Japan-Nordic Symposium 28/9/06
Some remarks on the university evaluation from a viewpoint of private universities Norikazu Kudo Keio University At Japan-Nordic Symposium 28/9/06 A flood of evaluations? Getting tired of evaluation? Internal
More informationGlobal strategy of LG Electronics as a leading Korean company
Global strategy of LG Electronics as a leading Korean company Tomikazu Hiraga Senior research Fellow NLI Research Institute Economic recovery in advanced countries including Japan is still sluggish, although
More informationMarket Study on Engineering Process Outsourcing
Overseas Market Information Market Study on Engineering Process Outsourcing (Part - II) Engineering Process Outsourcing from India Engineering Process Outsourcing (EPO) services from India will be a key
More informationHow To Succeed In A Volatile World
How To Succeed In A Volatile World 25 th October 2013 2012 Avalon. All Rights Reserved What Does Volatility do to Business? Unpredictability in demand Unpredictable Pricing Unpredictable Forex rates Unpredictable
More informationGrowth in Assets under Management of Selected Countries (CAGR 2004 10) 0% 5% 10% 15% 20% 25% 30%
Mutual Funds Mutual Funds In recent years, India has evolved as one of the fastest growing markets for mutual funds. During 24-1 the industry recorded a compounded annual growth (CAGR) of 23% as against
More informationMergers and Acquisitions Trends in the Global Property and Casualty Insurance Industry
Mergers and Acquisitions Trends in the Global Property and Casualty Insurance Industry Improving Industry Health to Bolster Global Merger Activity in 2014 NC3B-F1 January 2013 Contents Section Slide Number
More informationCompany Overview Presentation
Company Overview Presentation December 2012 Disclaimer This presentation does not constitute an invitation to underwrite, subscribe for or otherwise acquire or dispose of any shares or other securities
More informationWither the Global Talent Pool?
Wither the Global Talent Pool? The U.S. Remains Competitive But Lacks a Strategic Approach European Component of Internationalization Strategies in North American Universities Balance - Coimbra Group Seminar-
More informationMr. N. S. Kannan s opening remarks for analyst call on January 28, 2016
Mr. N. S. Kannan s opening remarks for analyst call on January 28, 2016 Good evening and welcome to the conference call on the financial results of ICICI Bank for the quarter ended December 31, 2015, that
More informationPlease note that this presentation is given to you for information only. This document remains property of Randstad and should never be used or
Please note that this presentation is given to you for information only. This document remains property of Randstad and should never be used or distributed outside your company. Employer Branding Perception
More informationFinancial Results for the First Quarter Ended June 30, 2014
July 28, 2014 Company name : Nissan Motor Co., Ltd. Code no : 7201 (URL http://www.nissan-global.com/en/ir/) Representative : Carlos Ghosn, President Contact person : Joji
More informationGlobal Privatization Trends in Healthcare and Health Insurance. Hank Kearney Global Health Access, LLC a PHM International company
Global Privatization Trends in Healthcare and Health Insurance Invest 2001 Dubai 3 April, 2001 Hank Kearney Global Health Access, LLC a PHM International company 2001 INVEST 2001 DUBAI HEALTH CARE & INSURANCE
More informationThe Role of Banks in Global Mergers and Acquisitions by James R. Barth, Triphon Phumiwasana, and Keven Yost *
The Role of Banks in Global Mergers and Acquisitions by James R. Barth, Triphon Phumiwasana, and Keven Yost * There has been substantial consolidation among firms in many industries in countries around
More informationStrategic Roadmap Development for international education in the PTE sector
Strategic Roadmap Development for international education in the PTE sector What are Strategic Roadmaps? Strategic Roadmaps are planning tools that identify strategic goals and pathways for growth in international
More informationINDIAN LUBRICANT INDUSTRY - SHRINKING MARGINS
INDIAN LUBRICANT INDUSTRY - SHRINKING MARGINS Declining demand growth of automotive lubricants, increasing competition on account of the presence of a large number of players, and increasing raw material
More informationR&D Globalization: Service Provider
R&D Globalization: Service Provider Landscape in China March, 2009 A Syndicated Report This report is solely for the use of Zinnov client and Zinnov personnel. No part of it may be circulated, quoted,
More informationTRIPS at 20: Evidence on Innovation, Use, and International Technology Flows. Keith E. Maskus 1 October 2015 WTO Public Forum, Geneva
TRIPS at 20: Evidence on Innovation, Use, and International Technology Flows Keith E. Maskus 1 October 2015 WTO Public Forum, Geneva Globalization of the IP system TRIPS, WIPO efforts, RTAs, BITs, and
More informationBusiest ports. Asian Tiger. Business friendly. Highest Trade/GDP Ratio. 4 th biggest financial centre
Busiest ports Business friendly Asian Tiger Highest Trade/GDP Ratio 4 th biggest financial centre Singapore economy at a glance: Singapore is a global trading power. Its strategic geographical location,
More informationExport Statistics Scotland 2014
Export Statistics Scotland 2014 Release Date: 27 January 2016 Key findings The total nominal value of Scotland s International Exports (excluding Oil and Gas) decreased in the last year, falling by 920
More information