GDP growth to rise
North Block leadership has good news coming from the Economist Intelligence Unit (EIU), the provider of country, industry, and management analysis. EIU presented highlights of its economic forecast for India in a presentation titled, “Powering Ahead: The Economist Intelligence Unit’s five-year forecast” at the Economist Conferences’ 14th Business Roundtable with the Government of India. According to the EIU, in 2010 India will be the ninth fastest growing economy in the world, and the second fastest growing major economy. GDP growth is predicted to rise to 7.7 per cent in 2010-11 and 8 per cent in 2011-12. India will continue to reap the benefits of a relatively young demography and strong economic fundamentals. Anjalika Bardalai, EIU’s Senior Analyst for South Asia, said, “Given the recent global financial crisis and the worst monsoon in nearly a quarter of a century, India’s economy demonstrates resilience and has in fact fared much better than many other countries. Continued strong domestic consumption, spurred by rising incomes and a growing middle class, will be the primary drivers of India’s growth. High savings rates and investment levels will support India’s continued economic acceleration.”
Jet, set, go
Jet Airways, India’s leading airline, will enhance its domestic network, with the introduction of new services, as well as the enhancement of services on existing Konnect services on certain domestic routes. Effective March 28, 2010, Jet Airways’ Konnect service will introduce daily flights on the Kochi – Bengaluru – Ahmedabad sectors, aboard its state-of-the-art Boeing 737-800 aircraft.
The FICCI-KPMG report released today, March 16, 2010, estimates the value of the television industry in India to be around Rs 257 billion by end of 2009. The report projects this size at a growth rate of around 7 per cent in 2009 from 14 per cent in 2008. The growth of the TV industry in India has been on account of the penetration of the television as a medium of entertainment and communication across the nation. At the same time this growth is marked by the increase in the digital homes leading to rise in subscription revenues for the distributors and broadcasters. The report also says that the broadcasters also benefited from a seven per cent growth in the advertising revenues. Defining the outlook for the television industry, the report says that the industry is expected to reach a size of Rs 521 billion in the next five years i.e. by 2014 at a CAGR of 15.2 per cent. The growth in advertisement revenues is expected at a rate of 15.6 per cent, which is marginally higher than the subscription revenues growing at a rate of 15 per cent.
GVK Biosciences (GVK BIO), Asia’s leading contract research organisation announced that it has commissioned its new clinical pharmacology unit (CPU) in Ahmedabad, India. The Ahmedabad CPU adds 110 beds to GVK BIO’s existing capacity of 144 beds. The new CPU will conduct a variety of studies in healthy volunteers. Ahmedabad was the most preferred and logical destination for expansion considering the volunteer pool accessibility and proximity to about 10 CROs and leading Pharma companies. With three clinical wards and 110 beds, the Unit is state-of-the-art and designed to suit all regulatory requirements. It also has special housing facilities for female volunteers. Key features of this Unit include access to special population like young women, post-menopausal women, diseased population and access to about 12,000 healthy volunteers.