There is a rush to buy in the consumer durables window as top consumer electronics companies ahead of their decision to hike their prices on account of excise duty have given the breather that the prices for the inventory stock with dealers would remain unchanged. Big companies like LG, Samsung, and Godrej, have offered this rare window as a relief to the consumer. These companies imagine the stocks would last another week or more when they actually effect a price revision. Godrej, however, announced the hike already but would implement it only for new stocks. Time to cash in!
Buzz On Retail Sector
The retail MNC bigwigs had expected to get a clear-cut policy announcement on liberalising the sector in the budget. The budget said there was need to take firm view on opening up of the retail sector. This did come across as a directional policy to Bharti and Walmart, both of whom together and independently have lined up grand plans for the retail sector. Rajan Bharti Mittal, joint MD of Bharti group, who just assumed charge of the apex chamber FICCI, welcomed the budget move. The buzz is that the government might soon take the next step as intense lobbying is on to get the sector opened fully including allowing FDI.
There is relief for pateints infected with the dreaded H1N1 (swine flu) virus. The government has contracted three domestic pharma companies—Panacea Biotec, Serum Institute, and Bharat Bioecth—to supply the vaccines latest by July 2010. Currenty, the government imports the vaccine from French pharma major Sanoffi Pasteur for use by high risk health workers. The domestic companies have been contracted to ensure that the vaccine is available to a large number of people in the country, and ultimately, stop the spread of the deadly disease.
The World Economic Forum has announced its Young Global Leaders (YGLs) for 2010. The honour, bestowed each year by the Forum, recognises and acknowledges up to 200 outstanding young leaders from around the world for their professional accomplishments, commitment to society and potential to contribute in shaping the future of the world. Four Indians-Nandita Das, Actress ; Ashok Giri Durgesh, Founder and Chief Executive Officer, Vindhya e-Infomedia Private Limited, Manisha Girotra, Managing Director and Chairperson, UBS Securities, Agatha K Sangma, Minister of State for Rural Development, and Tejpreet Singh Chopra, Government Relations and Strategy Development, General Electric, have made it from India.