The Month that was… June 2012 : Blog # 37

The Month that was…June 2012

*A monthly column on Business

          It was during an FB chat that Bala and I discussed about the idea of a column for the ASB magazine, 'Kaleidoscope'. We both agreed on this topic which gives an aerial view of previous month’s happenings. It is not a formal list down in the chronological order, but a look back at the events which are of interest, mostly from the world of business. Hope you enjoy the read.

                 The first week of June saw the television screens being inundated with Ads of Randstad. They have taken over India’s premier HR consultancy firm, Mafoi. The first Sunday’s ‘Satyamevjayate’ was discussing inter-caste marriages and the atrocities of Khap panchayats. If we continue to turn a blind eye towards these barbaric practices, vision 2020 will remain confined to cricketing format alone! Even now, the policy paralysis and the indifference that has inflicted our nation have brought down the growth rate from a 9% to a measly 5.3%. The rating agency, Fitch has followed S&P and downgraded us from Standard to Poor.

     Rajat Gupta, the poster boy of Indian Diaspora in the US and in a way, the world over stands tainted convicted of insider trading.

               Adding to the list of Global M&As by Indian conglomerates, Sahara group is buying out New York’s plaza hotel. In this time of a rumoured slowdown, IT behemoths are vying for the second phase of MCA21(Ministry of Corporate Affairs) project.

            It was interesting to know that a cola drink got the much sought after ‘Foshu’ label of Japan’s food regulatory authority. It is ‘Kirin mets’ cola that bagged this highly stringent certification.

   In a bid to increase the reach of ATMs in non-urban areas, Government is going to allow White Label ATMs (licensed for private sector ownership) as against the existing Brown label ones (licensed in the name of a commercial bank).

  Retailers are targeting loyal customers big time in order to beat the slump. Some operators like Shoppers stop derive as much as 75% of their revenue from loyal customers. The decision as to whether or not to allow or FDI in multi brand retail still hangs in thin air.

 Reliance Industries seems to be looking for a suitor for their much acclaimed brand, ‘Only Vimal’. It is also said that it might be the beginning of the end of the company’s presence in textile sector.

 Amidst all the negativity, there is a ray of hope. The Swedish retailer, Ikea is entering the Indian market in a big way.

           After much mudslinging, there seem to be a consensus on the candidature for country’s highest civilian post. But what needs to be watched is how things are going to change in the north block.

                                                                                                                       

Arun Babu.

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