BPO Industry can touch $50 bn by 2012: Nasscom

The Indian BPO industry can reach $30 billion by 2012 but has the potential to grow five-fold to $50 billion if the "right choices" are made by the industry stakeholders...

The Economic Times
http://economictimes.indiatimes.com/
BPO_Industry_can_touch_50_bn_by_2012_Nasscom/
articleshow/2741115.cms

Red Fort Capital’s Rs 2,700-crore plan for real estate

Private equity firm Red Fort Capital plans to invest about Rs 2,700 crore in real estate by 2009, including acquisition of 2,500 acres of land in over 20 cities across the country.

The Financial Express
http://www.financialexpress.com/news/
Red-Fort-Capitals-Rs-2-700crore-plan-for-real-estate/266018/

Mittal, Ambanis, Premji among world's wealthiest CEOs

Steel tycoon Lakshmi Mittal along with Ambani brothers - Mukesh and Anil, are among the 10 wealthiest CEOs in the world, according to American magazine Forbes. Out of the world's 10 wealthiest CEOs, four positions have been grabbed by Indians -- Lakshmi Mittal is ranked at the second place followed by Mukesh Ambani (6th place), Anil Ambani (7th) and Wipro chief Azim Premji (9th).

The Economic Times
http://economictimes.indiatimes.com/News_by_Industry/
Mittal_Ambanis_Premji_among_worlds_wealthiest_CEOs/
articleshow/2740535.cms

Citigroup CEO Vikram Pandit gets $30 mn bonus; 6-times of total India bankers' pay

World's largest lender Citigroup has awarded its newly-appointed CEO Vikram Pandit stocks worth $30 million, even as the India-born executive has decided to forgo a cash bonus at the crisis-ridden bank.

The Economic Times
http://economictimes.indiatimes.com/articleshow/
2734877.cms?from_et_daily_newsltr=1

Asian markets salute steep Fed cut with rally

Asian shares rallied on Wednesday with Hong Kong jumping 7 percent after the Federal Reserve's biggest interest rate cut in over two decades tempted investors to beaten-down equities, but recession fears lingered. The dollar extended its losses against the euro in early Asian trade after the Fed's emergency 75 basis-point interest rate cut wiped out the U.S. currency's yield advantage over the euro. Industrial metals, such as copper recovered some lost ground after hefty falls this week on fears a U.S. recession could derail demand, while safe-haven government bonds extended gains to fresh multi-year highs.

The Economic Times
http://economictimes.indiatimes.com/
Asian_markets_salute_steep_Fed_cut_with_rally_/
articleshow/2723158.cms

Emergency Fed rate cut stabilizes stocks

Jolted by global recession fears, the Federal Reserve slashed interest rates and President George W. Bush and leaders of Congress joined in a rare show of cooperation in promising urgent action to pump up the economy with upwards of $150 billion in tax cuts and government spending.

Mint
http://www.livemint.com/2008/01/
23095325/Emergency-Fed-rate-cut-stabili.html

Indian rupee may rise after Fed’s rate cut

The Indian rupee may rise sharply at the open on 23 January to around 39.30 per dollar, with traders saying the U.S. Federal Reserve’s 75 basis point cut in interest rates could encourage capital inflows into India. The partially convertible rupee ended at 39.48/49 per dollar on 22 January, above 21 January’s close of 39.555/565 and well off an intraday low of 39.78, which was the weakest since 29 November, Reuters data showed.

Mints
http://www.livemint.com/2008/01/
23091931/Indian-rupee-may-rise-after-Fe.html

Indian economy on track despite global turmoil

India’s economy may lose a bit of steam in coming months but will remain on track for strong growth despite global market turmoil and mounting fears of a US recession, analysts say.The Asian giant’s expansion will remain far above anaemic growth in the West thanks to high savings and investment rates and strong domestic demand driven by its 1.1-billion-strong population, experts say. While the World Bank forecasts average global growth for this year at a high of 3.3%, an Indian government advisory panel last week predicted 8.9% growth for this financial year to March 2008, slowing to 8.5% the following year. Last year, India’s economy grew by 9.4%, second only to China’s scorching expansion for 2007 forecast at around 11.7%.

MINT

http://www.livemint.com/2008/01/
23102922/Analysts-say-Indian-economy-on.html

Brown pledges $1.6 bn for India's development

British Prime Minister Gordon Brown pledged US$1.6 billion (euro1.1 billion) for development programs in India ahead of talks Monday with Prime Minister Manmohan Singh and President Pratibha Patil on building stronger financial ties. Brown is visiting New Delhi with a large delegation of British business leaders after spending two days in China, on his first trip to Asia as prime minister.

The Economic Times
http://economictimes.indiatimes.com/News/PoliticsNation/
Brown_pledges_16_bn_for_Indias_development/articleshow/
2716706.cms

Vodafone to invest $6 bn on India operations in next 3 years

Setting an ambitious target of 100 million cellular subscribers, leading private GSM operator Vodafone-Essar on Monday announced an investment of 6 billion dollars (about Rs 24,000 crore) in the next three years. "We shall be investing 2 billion dollars annually for the next three years on our Indian operations... We have set a target of reaching 100 million subscriber base from the current level of 40 million," UK-based telecom giant Vodafone's CEO Arun Sarin told reporters here today.

The Economic Times
http://economictimes.indiatimes.com/News_by_Industry/
Vodafone_to_invest_6_bn_on_India_operations_in_next_3_years/
articleshow/2716816.cms

Budweiser joins race for S&N’s stake in UB

Budweiser maker Anheuser-Busch (A-B) may show up at United Breweries (UB) to acquire Scottish & Newcastle (S&N)’s 37.5% stake, which is in play with the latter entering into discussions with Carlsberg and Heineken combine to sell off its worldwide interests. Dutch brewer Heineken has already moved for S&N stake in the Vijay Mallya-led Indian company as a possible carve up of the UK brewer could be achieved in the coming week.

The Economic Times
http://economictimes.indiatimes.com/
Budweiser_joins_race_for_SNs_stake_in_UB/
articleshow/2716137.cms

Emaar MGF to open hotels chain with Global Hyatt

Real estate and hospitality company Emaar MGF has agreed to enter into a joint venture with Global Hyatt Corporation of the US to set up a chain of business hotels in India under the brand name Hyatt Place. Emaar MGF is jointly owned by Emaar Properties, PJSC of Dubai and India’s MGF Developments.

The Economic Times
http://economictimes.indiatimes.com/News_by_Industry/
Emaar_MGF_to_open_hotels_chain_with_Global_Hyatt/
articleshow/2716363.cms

Chidambaram to woo international investors at Davos

Global investors at the World Economic Forum are going to be wooed by the Indian government and captains of industry who have lined up impressive presentations as also mounted a well chosen delegation to represent the country’s economic and business interests. P Chidambaram,finance minister will be accompanied by his ministerial colleagues Kamal Nath and Praful Patel, will represent India at the World Economic Forum at Davos from 23-27January and is expected to hard sell the India story to global investors at Switzerland’s skiing resort.

Mint
http://www.livemint.com/2008/01/20132219/
Chidambaram-to-woo-internation.html

Spice plans $100 mn mobile services IPO

Indian conglomerate Spice will list its mobile services unit in May or June this year in Singapore and Bombay in an initial public offering (IPO) worth $100 million, its chief executive said on Monday. Spice, which owns telecommunications firm Spice Communications and Spice Mobiles, is looking to list its mobile value-added services firm, Cellebrum, on the Bombay and Singapore stock exchanges. It will also list its mobile retail unit, Hot Spot, at year-end.

Mint
http://www.livemint.com/2008/01/21094941/
Spice-plans-100-mn-mobile-ser.html

Reliance Power IPO | Indian institutions outbid foreign investors

The Anil Ambani-controlled Reliance Power Ltd’s public float that saw subscriptions of $190 billion has the who’s who of international investors putting in bids for the company’s shares. According to a source close to the development, foreign institutional investors (FIIs) accounted for nearly half the demand for the issue. FIIs such as Deutche Bank, UBS Securities, ABN-Amro Securities, Macquarie Securities and Merrill Lynch have put in bids ranging from $13.9 billion to $1 billion for shares on offer to institutions. The George Soros-controlled Quantum Fund is said to have put in a bid of $1.6 billion.

Mint
http://www.livemint.com/2008/01/20190149/
Reliance-Power-IPO----Indian.html

Rel Power IPO to make Anil richest Indian

Reliance Power Ltd's IPO, the country's biggest, has helped the promoter Anil Ambani whiz past elder brother Mukesh and NRI tycoon Lakshmi Mittal at the top of India's richie-rich club, with his wealth soaring to more than 60 billion dollars. As per a list of richest Indians put out by renowned business magazine Forbes late last year, Mittal and Mukesh Ambani were ranked at the top two positions, followed by Anil at the third position.

The Financial Express
http://www.financialexpress.com/news/
Rel-Power-IPO-to-make-Anil-richest-Indian/263561/

Reliance Power IPO subscribed 72.58 times

The initial public offer (IPO) of Reliance Power Ltd (RPL), which closed for subscription on Friday, received overwhelming response from the investor community. The issue was subscribed 72.58 times with the total number of bids received standing at 1,654.80 crore-equity shares against the issue size of 22.80 crore-equity shares as per the National Stock Exchange (NSE) demand graph. The total bids received at the cut-off price were 87.31 crore-equity shares.

The Financial Express
http://www.financialexpress.com/news/
Reliance-Power-IPO-subscribed-72-58-times/263146/

India to see $700-bn investment

Anticipating a 700-billion-dollar investment pipeline for the country, ICICI Bank Managing Director and CEO K V Kamath has said that corporates alone would infuse up to 500 billion dollars in the next three to four years.

The Financial Express
http://www.financialexpress.com/news/I
ndia-to-see-700bn-investment-Kamath/261010/

BSNL mulls IPO, valued at over $ 100 bn

State-owned telecom firm Bharat Sanchar Nigam Ltd, which has been valued at over 100 billion dollar (Rs 400,000 crore), is considering an IPO to dilute up to 10 per cent of its equity to fund expansion plans.

The Financial Express
http://www.financialexpress.com/news/
BSNL-mulls-IPO-valued-at-over-100-bn/261324/

India tops with 160 PE fund houses, China has 115

India has the most number of private equity (PE) funds operating amongst the BRIC markets, considered the emerging hotbed of PE action. According to Emerging Markets Private Equity Association (EMPEA) estimates, there are some 89 VC/PE firms managing 153 funds in Brazil, about 28 firms in Russia and 115 in China while India has over 160 firms.

The Economic Times
http://economictimes.indiatimes.com/
India_tops_BRIC_markets_in_PE_funds/
articleshow/2700237.cms

Reliance Power IPO beats expectations

Power on. India on. That’s the ad slogan for Reliance Power. On Tuesday, as India’s largest initial public offer received an overwhelming response on day one of subscription, it seemed to be a case of ‘Reliance Power on, Dalal Street off’. The 22.85 crore share mega issue, looking to raise roughly Rs 11,000 crore, was fully subscribed under a minute of the start of bidding, making you wonder if there were any early-bird prizes on offer. At last count, bids for more than 10.5 times the issue size had been received.

The Economic Times
http://economictimes.indiatimes.com/
Reliance_Power_IPO_beats_expectations/
articleshow/2703391.cms

Will Tata Nano revolutionise personal transport?

His car may well spark a revolution on the streets. Will Tata Nano be the iPod of the car market or its Nirma? The iPod changed the MP3 device market and it did not really matter what the competition did. Nirma, in late ’80s, handed out a beating to Hindustan Lever’s Wheel and created a new mass segment. Experts say Nano will perhaps be more Nirma than an iPod. They feel there won’t be any spillovers in the car industry. Nano is expected to change the automobile market in India, which should ideally mean new strategies for competitors.

The Economic Times
http://economictimes.indiatimes.com/
Will_Tata_Nano_revolutionise_personal_transport/
articleshow/2691095.cms

Tata's small car: Small size big opportunity

Preeti Burde, who owns a chain of driver training schools in Maharashtra’s Thane city, plans to buy Tata’s Nano the moment it is launched later this year. She is not exactly from the price-sensitive middle class family that the world’s cheapest car is targeted at. She is a businesswoman trying to profit from it.

The Economic Times
http://economictimes.indiatimes.com/
Tatas_small_car_Small_size_big_opportunity/
articleshow/2691005.cms

World watches Tata Motors Nano unveils

It’s the car that promises to shake up the world automobile industry. The Tata Motors Nano, India’s first original contribution to the car industry, was unveiled on Thursday at a packed, near-stampede launch. As promised, it’s priced at Rs 1 lakh ($2,500). The history-making car, which many industry observers predict will be a huge hit in emerging and even advanced markets, is already attracting world-wide attention with television channels in Europe and the UK telecasting the event live. Already, the launch of the Tata small car, the cheapest in the world, is being compared to seminal events such as the launch of Ford Model T and Volkswagen Beetle.

The Economic Times
http://economictimes.indiatimes.com/
World_watches_Tata_Motors_unveil_Nano/
articleshow/2691032.cms

Infosys Q3 net up 25%, beats forecast

Infosys Technologies Ltd, India’s No. 2 software services exporter, beat forecasts with a 25.2% rise in quarterly profit on Friday, 11 January 2008, bolstered by increased outsourcing demand from overseas clients looking to cut costs. Infosys, which is also listed on Nasdaq, said net profit rose to Rs12.31 billion ($313.23 million) in the fiscal third quarter ended 31 December, from Rs9.83 billion a year earlier. A Reuters poll of 13 brokerages had forecast Bangalore-based Infosys, whose clients include ABN AMRO and Goldman Sachs, would post a net profit of Rs11.77 billion on revenue of Rs43.26 billion.

MINT
http://www.livemint.com/2008/01/11101007/
Infosys-Q3-net-up-25-beats-f.html

Indian robots match their global counterparts

The 1st Robo Expo 2008 organized by CII concurrent to the 9th Auto Expo, witnessed the launch of a number of new Robots. The Robo Expo, being held from 10-17 January at the Andhra Pavilion, Pragati Maidan showcases world leaders of Robotics & Automation such as ABB Ltd, Hi-Tech Robotic Systemz, Kuka, Motoman Motherson Robotics Ltd, Panasonic, Precision Automation & Robotics India Ltd (PARI), Rhythmsoft and Rockwell amongst others.

MINT
http://www.livemint.com/2008/01/11114608/
Indian-robots-match-their-glob.html

10-year tax holiday to jack up manufacturing

In a much-needed pre-Budget bonanza to the manufacturing sector, which is showing signs of deceleration, the government on Thursday extended tax benefits to industrial units under a new Industrial Park Scheme, 2008. The scheme, notified on Thursday, would provide a 10-year tax holiday under Section 80-IA (4)(iii) of the Income Tax Act, 1962.

The Financial Express
http://www.financialexpress.com/news/
10year-tax-holiday-to-jack-up-manufacturing/260048/

Chief ministers urge Indian diaspora to invest in home state

Trade and investment opportunities in a resurgent India were the highlights of Day two of the 6th Pravasi Bharatiya Divas, which saw five chief ministers share their state’s unique strengths and future strategies as they tapped investment, vying for the attention of overseas Indian investors. Pranab Mukherjee, external affairs minister asked states and the NRI forum to come together in education, healthcare, energy sustainability, research and development as these sectors will “mar or make our future development.”

MINT
http://www.livemint.com/2008/01/09163456/
Chief-ministers-urge-Indian-di.html

GM confident of having 10 pct of Indian market by 2010

General Motors Corp is confident of meeting its target of 10 per cent of the Indian market by 2010, Karl Slym, the head of its India operations, said on Wednesday. General Motors is expanding its dealer network in India "significantly" in 2008 and would launch new models that would help it raise market share, Slym, GM India's president and managing director, said at the launch of the company's Captiva vehicle at the Auto Show.

The Economic Times
http://economictimes.indiatimes.com/News/News_By_Industry/
Auto/GM_confident_of_having_10_pct_of_Indian_market_by_2010/
articleshow/2685492.cms

Volkswagen hopes to sell 110,000 cars per year in India

Germany's Volkswagen said on Wednesday in a statement released at an annual auto show that it hopes to sell 110,000 cars a year in India starting 2009. Joerg Mueller, president of the firm's Indian operations, said Volkswagen would launch two new models in India this year including the Jetta, and hoped to introduce a small car in the country in 2010.

The Economic Times
http://economictimes.indiatimes.com/News/News_By_Industry/
Auto/Volkswagen_hopes_to_sell_110000_cars_per_year_in_India/
articleshow/2685554.cms

Post-Corus, Tata group revenue crosses $50 bn

The Tata group, one of India’s largest business houses consisting of around 100 firms in seven sectors, crossed the $50 billion (Rs1.97 trillion) revenue mark in 2007, following the acquisition of Corus Group Plc.

MINT
http://www.livemint.com/2008/01/08233252/
PostCorus-Tata-group-revenue.html

Foreign cos dominate highway project bids

Foreign bidders dominated the latest round of bidding for national highway projects, winning three of the five stretches on offer. This is the first time foreign companies won more bids than domestic ones; the five projects are together worth an estimated Rs5,390 crore.

MINT
http://www.livemint.com/2008/01/09000710/
Foreign-cos-dominate-highway-p.html

Modest global growth, US recession: World Bank

The global economy is expected to slow to a modest 3.3% growth pace this year, but the pace could worsen if the United States slips into recession, the World Bank said Tuesday. Despite financial turmoil unleashed by a meltdown in the US mortgage market, global growth slowed in 2007 to 3.6% from 3.9% rate in 2006, the Bank said in a report titled “Global Economic Prospects 2008.” Most of the 2007 slowdown was due to weaker growth in high-income countries. Developing countries cushioned the blow with robust 7.4% growth, virtually unchanged from 2006.

MINT
http://www.livemint.com/2008/01/09104718/
Modest-global-growth-US-reces.html

Tech results | Q3 on track, but all eyes on next quarter

Software services firms such as Tata Consultancy Services Ltd (TCS), Infosys Technologies Ltd and Wipro Ltd will start announcing their results for the December quarter later this week, but analysts say the focus will be more on their business outlook for the coming quarters from the US, where an economic slowdown could potentially shrink technology spending.

MINT
http://www.livemint.com/2008/01/08001417/
Tech-results--Q3-on-track-bu.html

Blogs provide window to pharmaceutical industry in India

Pharma blogs are playing an important role in shaping the future of the pharmaceutical industry in India. Many Indian online financial portal and investment firms as well as research organisations have provided a blogging platform for the pharma industry to keep itself updated with the development in the pharma world through open and uncensored discussion.

The Economic Times
http://economictimes.indiatimes.com/News/
News_By_Industry/Healthcare__Biotech/
Blogs_provide_window_to_pharmaceutical_industry_in_India/
articleshow/2681865.cms

Indiabulls to raise $1 bn from int'l market

Domestic brokerage major Indiabulls financial Services has said it will raise one billion dollars through issue of international securities. The company would seek shareholders' approval on February 1 for the issuance of Foreign Currency Convertible Bonds (FCCBs), Global Depository Receipts and other forms of securities convertible into equity shares, Indiabulls informed the Bombay Stock Exchange.

The Financial Express
http://www.financialexpress.com/news/
Indiabulls-to-raise-1-bn-from-intl-market/258641/

VC funding set to be billion dollar baby in 2008

The year 2008 is slated to be an interesting year for entrepreneurs and venture capitalists alike. With a mobile subscriber population of over 200 million and a growing internet penetration base, growing middle class and over 70 million TV and satellite homes, entrepreneurs are coming up with innovative ideas and VCs are not stopping short of funding them.

The Economic Times
http://economictimes.indiatimes.com/
articleshow/2677969.cms

India to become trillion-dollar wealth management mkt by 2012

Indians will have one trillion dollars worth investable wealth by 2012, with the country’s robust economic growth driving a four-fold surge from just about 250 billion dollars in 2007.

MINT
http://www.livemint.com/2008/01/06121309/
India-to-become-trilliondolla.html

Hardware, software makers may soon be able to invest in SEZs

Electronics hardware and software Companies may soon be cleared to invest in special economic zones and integrated townships. Plans to build integrated townships of up to 40 sq km in area would keep the cost-competitiveness of the IT sector going even after the tax breaks offered the Software Technology Parks of India (STPI) scheme come to an end in 2009.

The Financial Express
http://www.financialexpress.com/news/
Hardware-software-makers-may-soon-be-able-to-invest-in-SEZs/258510/

Remittances through mobile phones likely by year-end

Indians working abroad may be able to send money back home through mobile phones before the end of 2008, with Western Union and Bharti Airtel looking to operationlise the service by December.

The Economic Times
http://economictimes.indiatimes.com/News/News_By_Industry/
Remittances_through_mobile_phones_likely_by_year-end/
articleshow/2681163.cms

India Inc most optimistic about economy

India Inc is the most optimistic around the world when it comes to their business outlook, unaffected by global credit crunch and boosted by expectations of over 8 per cent growth of the domestic economy, says a new report. Economic activity in 2008 is expected to proceed at a vigorous pace in the developing Asia, global consultancy firm Grant Thornton's international business report (IBR) said.

The Economic Times

http://economictimes.indiatimes.com/
India_most_optimistic_about_economy_Report/
articleshow/2680909.cms

India's 2008 equity mop-up seen at Rs 75000 crore

Indian companies are expected to raise about Rs 75000 from the primary market through issue of equity shares in 2008, Prime Database said on Monday. Of this, about Rs 60000 crore would be through initial public offers (IPOs) and the balance from follow-on issues, the primary market monitoring firm said. It expects 150-175 public issues to hit the market this year.

The Economic Times
http://economictimes.indiatimes.com/Market_News/
08_equity_mop-up_seen_at_Rs_75K_cr/
articleshow/2680147.cms

Rupee near 10-year high

The rupee came off from near its 10-year higher levels but still ended strong by five paisa at 39.29/30 against the US dollar on expectations of heavy allocation of foreign funds in near future in IPOs and smart recovery in the equity markets.

The Economic Times
http://economictimes.indiatimes.com/Market_News
/Rupee_near_10-year_high_vs_dollar/
articleshow/2680848.cms

Biotech industry revenue doubles to $2 bn in a year

The biotech industry is going great guns. The industry’s revenue revenue hit the $2-billion mark during 2006-07, up from $1 billion in 2004-05. The industry is now aiming to garner revenue of $5 billion before 2010. This sterling performance has its roots abroad. According to industry players, escalating research and development expenses and stringent policies are making manufacturers from the regulated Markets look towards India for cutting costs.

The Financial Express
http://www.financialexpress.com/news/
Biotech-industry-revenue-doubles-to-2-bn-in-a-year/256621/

Economy to grow at close to 9% this fiscal

Finance minister P Chidambaram on Monday said that Indian Economy would grow close to 9% in 2007-08. “I am not changing my projections, the growth rate in 2007-08 will be close to 9%,”he told reporters after inaugurating the 1500th branch of Indian Bank. He added that the average growth rate in the last four years has been 8.6%. For 2008-09, too the Chidambaram is setting a target of 9%. “With more investments taking place, we can aim to grow at 9% in 2008-09,”he said, adding that this would require “hard work.”The government also needs to deliver while outlays have to be translated into outcome.

The Financial Express

http://www.financialexpress.com/news/

Economy-to-grow-at-close-to-9-this-fiscal-reiterates-FM/256215/

Steeling the limelight with M&As

If mergers and acquisitions (M&A) defined the steel sector in 2007, policy initiatives and consolidation of gains will underline 2008. Last year, the industry was home to the biggest ever acquisition by an Indian company in the form of Tata Steel's takeover of Corus for $12 billion. It catapulted the Tatas to the 5th position among the world's steel makers with a combined finished steel production capacity of 27 million tonnes (mt).

The Indian Express
http://www.indianexpress.com/story/256156.html

Full steam ahead... to South Africa, Brazil and beyond

A fast globalising India is all set to chart new directions in the maritime world, too, and bolster the country’s fast expanding trade activities. The Ministry of External Affairs (MEA) has given the green signal to the Ministry of Shipping, Road Transport and Highways (MSRTH) to proceed with the proposal for a shipping line between India, Brazil and South Africa. With this, the Department of Shipping now expects to enter into a Memorandum of Understanding (MoU) with the South African government to set up shipping services between the two countries in the next couple of months.

The Indian Express
http://www.indianexpress.com/story/256153.html

Corp India’s fascination: QIPs

India Inc is flocking to the QIP (qualified institutional placement) market, finding it cheaper and a faster way to mobilise funds. Listed companies are increasingly banking on big institutional investors — but at the cost of retail investors who are not in the reckoning for QIPs. The companies raised Rs 21,700 crore through QIP placements in 2007 as against Rs 3,900 crore in the previous year, a rise of 456 per cent, according to figures compiled by Bloomberg Asia-Pacific League Tables. This is almost equivalent to the amount that companies raised through public issues in 2006. The QIP route which was opened up by the market regulator Sebi two years ago has gained acceptance — and fast at that.

The Indian Express
http://www.indianexpress.com/story/255897.html

E-commerce transactions to reach $100 bn

E-commerce transactions in India are expected to reach USD 100 billion in the year 2008 as Companies increase use of Internet to cut costs and improve speed and efficiency.

The Financial Express
http://www.financialexpress.com/news/
Ecommerce-transactions-to-reach-100-bn/255795/

Markets to scale new peaks in '08

The Dalal Street is expected to start the New Year on a positive note and scale new peaks in the next 12 months, despite situations in global Markets remaining uncertain, analysts say. They predict 2008 would be a promising and bullish sentiments will prevail throughout the year along with some corrections due to local and global cues.

The Financial Express
http://www.financialexpress.com/news/
Markets-to-scale-new-peaks-in-08-Analysts/255794/

Forex Reserves to touch $300 bn

On the back of robust foreign inflow due to sub-prime and other crises in the West, India's foreign exchange reserves are expected to rise by USD 100 billion to touch USD 300 billion mark by the end of current fiscal, the Institute of Economic Growth (IEG) has said.

The Financial Express
http://www.financialexpress.com/news/
Forex-Reserves-to-touch-300-bn-IEG/255800/

India’s market cap crosses Rs 70 lakh crore-mark

Investors’ wealth on the Indian bourses has crossed Rs 70,00,000-crore milestone for the first time in history, with an average increase of over Rs 40 crore in every minute of trading during 2007. The total wealth, measured in terms of cumulative market capitalisation of all the listed Companies on the Bombay Stock Exchange, has surged to a record high of Rs 70,38,538 crore (over $1.7 trillion), the latest data available with the bourses show. This marks a ten-fold surge in the total market value in just about four and a half years. It stood at about Rs 7,00,000 crore in May 2003. The investors’ wealth has grown by Rs 34,14,181 crore, or about $970 billion, since the beginning of 2007. Taking into account the 249 days of trading so far this year, this means an average gain of about Rs 13,711 crore a day or about Rs 41 crore a minute.

The Financial Express
http://www.financialexpress.com/news/
Indias-market-cap-crosses-Rs-70-lakh-croremark/255870/

India could attract $20 bn investment in 2008

The year 2007 is clearly the year that saw the rise of private equity funds. According to those tracking the industry, $13 billion (which is approximately Rs 55,000 crore) was invested in Indian markets in 2007. Simply put, a relatively new segment of investors have entered the scene and have pumped in Rs 55,000 crore into Indian companies. Ask any investment banker, and he will call the year 2007 a watershed year as all mandates for fund raising were completed and he is on track to receive a hefty bonus.

The Economic Times
http://economictimes.indiatimes.com/Market_Analysis/
Experts_forecast_20_bn_investment_in_2008/
articleshow/2661127.cms