Consumer goods major Videocon, which prides in calling itself the Indian multinational, plans to list in the US market in two years by when it dreams of putting its products in American homes.
"My dream is to enter the US market... we would like to enter the market as soon as we are ready. Probably in two years' time. Once we enter the market we will ring the Nasdaq bell," Videocon Group Chairman Venugopal Dhoot told PTI.
Videocon could then join the likes of IT giants Infosys, Wipro and Satyam, which are listed on US bourses. While Dhoot himself could be rubbing shoulders with tech czars N R Narayana Murthy and Azim Premji, who rang the opening bell at the NYSE and Nasdaq.
Dhoot, however, said at present the company was preparing itself for the entry into the world's most competitive consumer electronics market.
"You cannot go haphazardly or half heartedly in the US market, because it is 'the market'. It is 40 per cent of the world's market. So when you want to enter the US market you have to be very cautious," he said.
The company's plant in Mexico could serve as the route to the US, he added.
Although the group has not yet decided on the amount to be raised from the proposed US listing, Dhoot said the proceeds form it would be utilised for funding its mergers and acquisition activities.
Courtesy : Expressindia.com
Videocon plans US entry, Nasdaq listing in 2 yrs
July 11, 2007, 10:19 amGlobal online firms search India for net gains
July 11, 2007, 10:17 am
Global online firms are turning India-centric hoping to capitalise on a growing mass of Internet users, online advertising and an exploding mobile user base.
India's Internet penetration at a mere 3 per cent is among the lowest in the world, but the fourth largest in the Asia-Pacific region with more than 30 million users, according to data from comScore Inc. and Telecom Regulatory Authority of India (TRAI).
Broadband users are even lesser at 2.34 million, TRAI said.
"A lot of companies like ours tend to focus not only on penetration but also on growth rates," said Jaspreet Bindra, country manager, MSN India.
Yahoo!, Google, MSN India are aggressively going local. AOL Global Operations recently entered the race for Indian eyeballs with an India-specific site. eBay and Monster.com are aggressively wooing Indian customers.
Online Advertising, E-Commerce
"The India online advertising market is still very small but is beginning to grow rapidly. There is tremendous opportunity for a company with AOL's expertise, network and technology," said PG Ponnapa, vice-president and head of the portal business.
A recent report by SSKI Securities forecast India's Internet advertising revenue to grow nearly 50 per cent by 2010 to Rs 7.5 billion against a global growth of 20 per cent to USD 47.5 billion over the same period.
"The growth rates, if you look at it from the Internet advertising market point of view, are huge," Bindra said. The drivers are classifieds in matrimonials, real estate and jobs.
"We trebled our advertising revenue last year and we will at least double it this year," said George Zacharias, managing director of Yahoo India, which has only advertisement revenues.
Auction site eBay relies on user fees for revenues. The business-to-consumer e-commerce market in India is estimated at around Rs 23 billion, and growing nearly 100 per cent annually, an Internet & Mobile Association of India report said.
eBay India has 2.5 million visitors a month and 2 million registered users across 670 cities, Rathin Lahiri, chief marketing officer, said. "It's just a question of getting a certain critical mass before one looks at monetising."
The low Internet penetration does not worry them. "The way to go about it is not to think of the obstacles alone but what is going to happen a few years later," said Zacharias.
The telecom ministry, which declared 2007 as the Year of Broadband expects 100 million Internet users with 20 million broadband connections by 2010. Huge investments are being made by local service providers Mahanagar Telephone Nigam Ltd and Bharat Sanchar Nigam to upgrade broadband infrastructure.
It's not merely PC screens but delivery over mobile screens which the companies find exciting. Yahoo, in a market research report, has estimated mobile value-added services to rise to USD 600 million in 2010 from USD 210 million last year.
"Nobody has really figured out how to make a lot of money from there but they see it growing like mad. Therefore the market size is suddenly looking bigger than just the PC market," Bindra said. MSN India is increasingly focussed on the mobile market.
Of the 165 million mobile users in India barely 5 million access the Internet on their handsets. Industry players believe that 50 per cent of phones in 2-3 years will be GPRS-ready.
"The pie is very small now but it is going to grow large. For everybody it is just a question of executing to get as much share of the pie as possible," says Zacharias.
Courtesy : Expressindia.com
India's Internet penetration at a mere 3 per cent is among the lowest in the world, but the fourth largest in the Asia-Pacific region with more than 30 million users, according to data from comScore Inc. and Telecom Regulatory Authority of India (TRAI).
Broadband users are even lesser at 2.34 million, TRAI said.
"A lot of companies like ours tend to focus not only on penetration but also on growth rates," said Jaspreet Bindra, country manager, MSN India.
Yahoo!, Google, MSN India are aggressively going local. AOL Global Operations recently entered the race for Indian eyeballs with an India-specific site. eBay and Monster.com are aggressively wooing Indian customers.
Online Advertising, E-Commerce
"The India online advertising market is still very small but is beginning to grow rapidly. There is tremendous opportunity for a company with AOL's expertise, network and technology," said PG Ponnapa, vice-president and head of the portal business.
A recent report by SSKI Securities forecast India's Internet advertising revenue to grow nearly 50 per cent by 2010 to Rs 7.5 billion against a global growth of 20 per cent to USD 47.5 billion over the same period.
"The growth rates, if you look at it from the Internet advertising market point of view, are huge," Bindra said. The drivers are classifieds in matrimonials, real estate and jobs.
"We trebled our advertising revenue last year and we will at least double it this year," said George Zacharias, managing director of Yahoo India, which has only advertisement revenues.
Auction site eBay relies on user fees for revenues. The business-to-consumer e-commerce market in India is estimated at around Rs 23 billion, and growing nearly 100 per cent annually, an Internet & Mobile Association of India report said.
eBay India has 2.5 million visitors a month and 2 million registered users across 670 cities, Rathin Lahiri, chief marketing officer, said. "It's just a question of getting a certain critical mass before one looks at monetising."
The low Internet penetration does not worry them. "The way to go about it is not to think of the obstacles alone but what is going to happen a few years later," said Zacharias.
The telecom ministry, which declared 2007 as the Year of Broadband expects 100 million Internet users with 20 million broadband connections by 2010. Huge investments are being made by local service providers Mahanagar Telephone Nigam Ltd and Bharat Sanchar Nigam to upgrade broadband infrastructure.
It's not merely PC screens but delivery over mobile screens which the companies find exciting. Yahoo, in a market research report, has estimated mobile value-added services to rise to USD 600 million in 2010 from USD 210 million last year.
"Nobody has really figured out how to make a lot of money from there but they see it growing like mad. Therefore the market size is suddenly looking bigger than just the PC market," Bindra said. MSN India is increasingly focussed on the mobile market.
Of the 165 million mobile users in India barely 5 million access the Internet on their handsets. Industry players believe that 50 per cent of phones in 2-3 years will be GPRS-ready.
"The pie is very small now but it is going to grow large. For everybody it is just a question of executing to get as much share of the pie as possible," says Zacharias.
Courtesy : Expressindia.com
Taj Mahal to now lure developers, retailers
July 11, 2007, 10:15 am
Property developers and consultants across the country are keenly watching the inclusion of the Taj Mahal as one of the new Seven Wonders of the World.
The architectural marvel located in Agra has already been a tourist destination for several hundred years, but its inclusion in the coveted list is expected to further drive tourism -- and give real estate and retail in the city a new fillip.
According to Anuj Puri, managing director, Jones Lang LaSalle Meghraj, “There will soon be a 15-20% appreciation in demand for residential property in Agra’s prime locations. Moreover, with the increased inflow of tourists, the retail segment is expected to thrive.”
There are already two prominent malls -- Taneja and Adlabs —- selling handicrafts and ethnic artefacts located near the Taj Mahal. These malls will now get a huge.
“Developers like Parsavnath, Omax, Ansals and Unitech have started eyeing huge residential and retail developments near the Delhi-Agra highway, spread across several lakh hectares,” says Puri.
Currently, retail properties in and around Agra are priced at Rs 6,500-9,000 a sq ft. Residential property, on the other hand, is available from Rs 3,500-4,000 a sq ft. Says architect Hafeez Contractor, “The Taj Mahal is all set to boost the real estate market in Agra. Agra should now see a shift in population from Tier-I cities, provided the infrastructure supports it.”
Hemant Shah, chairman, Akruti Nirman, said, “We will definitely consider developing residential towers in Agra if there is better road connectivity, entertainment centres and large hotels. The government will have to create more tourist-friendly infrastructure in places where tourist footfalls are counted in the millions.”
Anil Malhotra from Yum! Restaurants International said, “Agra already has Pizza Hut and KFC restaurants. But now that tourist footfalls in the city are likely to go up, we will be expanding the number of our restaurants significantly.
Courtesy : Expressindia.com
The architectural marvel located in Agra has already been a tourist destination for several hundred years, but its inclusion in the coveted list is expected to further drive tourism -- and give real estate and retail in the city a new fillip.
According to Anuj Puri, managing director, Jones Lang LaSalle Meghraj, “There will soon be a 15-20% appreciation in demand for residential property in Agra’s prime locations. Moreover, with the increased inflow of tourists, the retail segment is expected to thrive.”
There are already two prominent malls -- Taneja and Adlabs —- selling handicrafts and ethnic artefacts located near the Taj Mahal. These malls will now get a huge.
“Developers like Parsavnath, Omax, Ansals and Unitech have started eyeing huge residential and retail developments near the Delhi-Agra highway, spread across several lakh hectares,” says Puri.
Currently, retail properties in and around Agra are priced at Rs 6,500-9,000 a sq ft. Residential property, on the other hand, is available from Rs 3,500-4,000 a sq ft. Says architect Hafeez Contractor, “The Taj Mahal is all set to boost the real estate market in Agra. Agra should now see a shift in population from Tier-I cities, provided the infrastructure supports it.”
Hemant Shah, chairman, Akruti Nirman, said, “We will definitely consider developing residential towers in Agra if there is better road connectivity, entertainment centres and large hotels. The government will have to create more tourist-friendly infrastructure in places where tourist footfalls are counted in the millions.”
Anil Malhotra from Yum! Restaurants International said, “Agra already has Pizza Hut and KFC restaurants. But now that tourist footfalls in the city are likely to go up, we will be expanding the number of our restaurants significantly.
Courtesy : Expressindia.com
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