February - 4 March
the CEO OF EMIS
of the areas of discussion with my team in India recently has been the
extent to which Prime Minister Modi’s “Make in
India” campaign will change the attitude of foreign investors
and allow it to challenge China as a manufacturing powerhouse in Asia.
a long time, it has been the services sector that has dominated
India’s economic profile, accounting for more than half of
the country’s GDP. Foreign companies have taken advantage of
the country’s significant pool of well-educated and
relatively cheap English-speaking workers to outsource IT and business
processes. Manufacturing investment has been less forthcoming, due
mainly to the complexity of India’s regulatory and business
environment. The “Make in India” campaign can
already claim some success with companies like Oracle, Foxconn and
Vedanta pledging major investment in plants and operation centres. But
questions still remain about how successful Mr Modi will be in pushing
through the structural reforms that are required to change the attitude
of foreign investors and create the jobs required for an ever-growing
on this front is likely to be slow and rocky for Mr Modi but at least
it is being made. In the long-term India cannot simply rely on the
services sector if it is to reach its full economic potential.
You may be interested in an article
I published on LinkedIn this week on the increasing prominence of
emerging markets in the world.
Insights and reports
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of the week
Emerging markets are facing their first test of their growth following
China’s economic slowdown, rising US rates, a languishing oil
price and stronger oil price. The growth narrative still looks strong
in the long term but the next 12 months look set to be a challenge.
What follows are the summary of opinions from the Emerging Markets
Investing: Stick or Twist? survey. 277 responses received, mostly from
chief investment officers, pension funds and banks across geographies
with assets under management from less than $500 million to over $500
are the most read articles in the past week on EMIS
Perspectives, our daily blog of
emerging market news and insights.