Ikea is opening its first store in India, but is the country ready? Manoj Ladwa, founder of Indian Inc. and former communications director for Narendra Modi, says YES. Indian consumers expect a lot from retail brands. On the one hand, competing on price is imperative for retailers in India. On the other, there are 600m young people there, and the country’s professionals are increasingly demanding products and services that make their lives easier. Ikea is primed to take advantage of today’s aspirational Indian society. Its first store, in Hyderabad, is in India’s hub of entrepreneurship, where young professionals are not just driving growth in the high-skilled economy, but buying more too. Home ownership is on the rise across India, growing at 4.2 per cent year-on-year in 2017. And millennial Indians have a growing appetite for household goods; the number of households with televisions rose by 7.5 per cent in the same period, according to KPMG. Government policies to … [Read more...] about DEBATE: Ikea is opening its first store in India, but is the country ready?
Ease of doing business india
Smart Start USA, a programme that will officially start in September 2018, aims to ease access for 10,000 small and medium Romanian companies and entrepreneurs annually on the North American market. They will be able to promote their products and services, to become foreign investors on the US market, and therefore contribute to the development of bilateral trade and the growth of Romanian exports. According to Ilan Laufer, former minister of the Business Environment and the initiator and coordinator of the Smart Start USA programme, Romanian companies can get funds starting at USD 50,000 and up to USD 100,000 in general, through partner banks, but he added that some companies may be able to get as much as USD 1 million. “This programme will be based on current realities, on the fact that only 15 percent of Romanian exports go towards countries outside Europe. Romania’s investment priorities should be directed towards China, the US and India. The United States are an … [Read more...] about Romanian companies can obtain at least USD 50,000 to do business in the US through the Smart Start USA programme
New Delhi (Sputnik) — The CEO of Invest India, Deepak Bagla, has stated that the entry of large investors apart from Napster and Softbank, along with policies and infrastructure keeping pace with the ecosystem's requirements, shows that India's startup ecosystem is going to get better. Invest India is a national investment promotion and facilitation agency, set up as a non-profit venture under the department of industrial policy and promotion within India's ministry of commerce and industries. The agency's mandate is to attract and retain high-quality investments into the country, acting as the first point of reference for potential investors. Startup India, a government initiative to promote entrepreneurs is housed within Invest India. READ MORE: Russia Agrees to Lower LNG Prices for 20-Year Contract With India In an exclusive interview with Sputnik, … [Read more...] about Startups Poised to Make India a Nation of Job Creators
Turkey's deputy prime minister in charge of the economy, Mehmet Şimşek, said Friday a new five-year period is set to start in the near future that will allow Turkey to focus on a new generation of economic reforms. Şimşek, who was in Washington for the spring meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG), met with American businesspeople and civil society leaders at an event organized jointly by the U.S. Chamber of Commerce and the Turkish Heritage Organization. At the event, Deputy Prime Minister Şimşek made a detailed presentation about the latest developments in Turkey's economy. President Recep Tayyip Erdoğan on Wednesday announced a plan to hold presidential and parliamentary elections on June 24, more than one year earlier than the original date of Nov. 3, 2019. Turkish markets have reacted "positively" to the proposal to hold elections earlier than scheduled in Turkey, Şimşek told American … [Read more...] about Turkey to concentrate on new generation of upcoming economic reforms
The City of London Corporation has teamed up with India’s High Commission in the UK to boost financial links between the two countries, with a particular focus on fintech. The Corporation today announced it will be a partner with the High Commission on its Access India programme. Access India aims to make it easier for British small and medium-sized firms to invest in India, often seen as one of the most difficult of the large economies to invest in. Read more: Lord Bilimoria on trade with India, immigration, and Brexit India was the world’s seventh-largest economy in 2016, according to the World Bank, but rapid growth will see it outpace the UK in the next two years, according to projections by the Centre for Economics and Business Research. However, India ranks only 100th in the World Bank’s ease of doing business rankings. Catherine McGuinness, policy chairman at the City of London Corporation, said the UK’s fintech firms can help a massive population to gain … [Read more...] about City of London Corporation in fintech partnership with Indian High Commission