The Hindu Business Line : ‘India, West Asia important contributors to world trade’

Kochi, Dec. 15 India, China and West Asia have become important contributors to the world trade unlike earlier times when they compared unfavorably with the more developed countries, Prof P.R. Bhat of the Indian Institute of Management (Kozhikode) said.

Delivering the keynote address at Crucible 2008 (the consulting seminar of IIMK), Mr Thomas Kuruvilla, Managing Director (Asia Pacific), Arthur D Little, said there are vast and critical differences amongst the markets of West Asia, Singapore, China and India that generate different needs and expectations from the consulting sector.

The trust-based business environment of West Asia allows high flexibility to the consulting assignment. Though huge opportunities existed in China it was important to consider critical factors such as language, culture and strict delivery timelines.

India was dominated by local talent and it was not feasible to take part in consulting opportunities without having local operations. Though the current downturn would result in cost cutting assignments, Mr Kuruvilla stressed on the need to take a more holistic view and on the increased need for innovation.

Opportunities at hand

Speaking about consulting opportunities in India and China, Mr Amit Kumar, Founder and Country Head of Grail Research, said though the growth estimates of these two economies would have to be revised downwards in the wake of the current financial crisis, they are based on solid fundamentals and would not be affected as other regions of the world.

More Stories on : Foreign Trade | Kerala

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page