EMPIRE CONSULTANCY
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June 2007

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Best Regards

Sayantan Chakravarty
Editor
 

The month of May ushered in good news for the Indian economy. For the first time ever, India joined an elite club of 12 members that have trillion dollar economies. Investment bank Credit Suisse put it down to the Indian Rupee appreciating to below the 41 level against the US greenback. The impact on offshore trading was swift—it meant hedge funds overseas taking shorter positions on dollar, but holding on to longer positions on the Indian rupee.

With the economy growing at over 8 per cent, a host of foreign banks are looking at India to tap opportunities. FIIs are also bullish on India, and have decided to pump in US $ 6 billion by the end of calendar 2007. The growth has fuelled large interests in the manufacturing world, with India turning into a vibrant manufacturing hub for global majors. Global biggies like LG, Haier, Electrolux and Whirlpool, for instance, are finalizing plans to sell “Made in India” labels in mature markets like Europe and the US.

Amidst all this, came another piece of promising news. A survey carried out by University of Surrey’s Spinder Dhaliwal and released in May highlights extraordinary achievements by UK Indians in the field of business and beyond. She compiled a grand and impressive list of rich Indians, and found that there was not a single person with inherited wealth on it. Consulting Editor Rakesh K Simha spent two weeks on the story before putting it together. The story about the Indian entrepreneurial heroes who converged to Britain from all over the globe is as exciting as the work of Dhaliwal.

Editor
Sayantan Chakravarty

Consulting Editors
Sanjay Sharma, Rakesh K. Simha, Rajeev Sharma

Contributing Editors
Vatsala Kaul, Dinesh Raheja, Indrani Talukdar (all India), Srikanth Beldona, Dharminder Diwan, Arnelle Hartenstein (all US), Rajesh Kumar (New Zealand), Ramesh Mathew (Qatar)

Art & Design
Jaydev Bisht (Head - Design and Layout)
Debashish Dutta (Consultant - Design)

Correspondent: Ummul Saba

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