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Why the sector was chosen in the West Midlands

  • Significant forecast employment growth centred on Birmingham City Centre.
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Banking Sector Report - December 2010

The banking system remains, as always, the most dominant segment of the financial sector. Indian banks continue to be well-regulated, and under the regulator's watchful eye, have emerged stronger.
In the annual international ranking conducted by UK-based Brand Finance Plc, 20 Indian banks have been included in the Brand Finance® Global Banking 500. In fact, the State Bank of India (SBI) has become the first Indian bank to be ranked among the Top 50 banks in the world, capturing the 36th rank, as per the Brand Finance study. The brand value of SBI increased from US$ 1.5 billion in 2009 to US$ 4.6 billion in 2010. ICICI Bank also made it to the Top 100 list with a brand value of US$ 2.2 billion. The total brand value of the 20 Indian banks featured in the list stood at US$ 13 billion.
According to RBI's 'Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks: March 2010', nationalised banks, as a group, accounted for 51.9 per cent of the aggregate deposits, while State Bank of India (SBI) and its associates accounted for 22.5 per cent. The share of other scheduled commercial banks, foreign banks and regional rural banks in aggregate deposits were 17.5 per cent, 5.0 per cent and 3.1 per cent, respectively.

Source: India Brand Equity Foundation (IBEF)



Financial Sector Opportunities in India - December 2010

Driven by a growth rate of up to 9% and booming consumerism, there is a discernible buzz in Indian business. A recent report1 by PWC on the economic shift to emerging markets suggested that India had “the potential to be the fastest growing large economy in the world over the period to 2050”. India’s young population (average age expected by 2020 to be about 28, compared to 37 in China and over 40 in the UK) and low cost innovation are key assets.
Since 1991, the financial sector in India has undergone significant reforms. The equity market in particular has almost completely opened. In insurance foreign firms (up to 26%) and Indian private sector players were allowed to challenge the state monopoly in their sector and currently have around 20% market share from a base of zero ten years ago. Banking has also undergone changes, in particular competition from new Indian private sector banks such as ICICI have driven efficiencies and new technology in both the private and state sectors. Nonetheless many reforms still jhtmlremain and it is acknowledged that the financial sector is still lagging behind the more vibrant corporate sectors in IT and pharmaceuticals for example where more wide ranging liberalisation took place in the 1990s.
In spite of significant market access barriers, the financial sector is already one of the most important sectors in the UK-India trade relationship. UK firms operating in India’s financial services sector are already the largest source of earnings from UK FDI in India.

Source: UK Trade & Investment



Financial Services Sector Report - December 2010

The financial services sector contributed 15 per cent to India's GDP in FY09, and is the second-largest component after trade, hotels, transport and communication all combined together, as per the Banking & Finance Journal, released by an industry body in August 2010.
Financial services, banking, insurance and real estate sectors rose by 8 per cent during the quarter ended June 2010.
There are a total of 1,732 foreign funds registered with the Securities & Exchange Board of India (SEBI).
Overseas funds infused US$ 4.78 billion in the capital market in November 2010, taking the year-to-date total to US$ 39 billion. The total inflows of foreign institutional investors (FIIs) as on December 2, 2010 have crossed the record US$ 38.76 billion mark.
According to data available with SEBI, FIIs have made investments worth US$ 4.11 billion in equities and invested US$ 667.71 million into the debt market.
The average assets under management of the mutual fund industry stood at US$ 160.44 billion for the month of September 2010, according to the data released by Association of Mutual Funds in India (AMFI).

Source: India Brand Equity Foundation (IBEF)



Insurance Sector Report - December 2010

The US$ 41-billion Indian life insurance industry is considered the fifth largest life insurance market, and growing at a rapid pace of 32-34 per cent annually, according to the Life Insurance Council.
Life insurance companies have witnessed a 70 per cent jump in new premium collection during the first five months of the financial year. According to data released by the Insurance Regulatory and Development Authority (IRDA), insurance companies garnered US$ 11.73 billion in new business premium during April-August 2010, against US$ 6.90 billion in the corresponding period last year.
State-owned LIC gained the most, with an increase of 88 per cent in new business premium income. At the same time, private sector insurance recorded a 34 per cent increase in income from sales of new policies. New business income collected by ICICI Prudential stood at US$ 576.60 million during April-August. SBI Life remained in the third position after registering a 40 per cent increase in new sales to US$ 531.87 million from US$ 379.20 million in April-August 2009. HDFC Standard Life saw a robust 54 per cent increase in new business.

Source: India Brand Equity Foundation (IBEF)




Education & Skills Opportunities in India - June 2010

Education, at all levels, is India’s biggest economic and social challenge. The Higher Education system has emerged as one of the largest in the world in terms of number of institutions as well as student enrolment. However, the education system in the Country is bogged down by the fundamental challenges of access, equity and quality. The current resources in the country are unable to meet the challenges and in turn this throws up a wide range of opportunities for UK education providers. On the skills side, against a number of 12.8 million workers that annually enter the Indian workforce, the existing capacity of skills development programme in India is 3 million per annum. The Prime Minister has set a target of skilling 500 million by 2022, whereas at present only 2% of the workforce has skill training. This again throws up opportunities for UK skills providers to work with their Indian counterparts to help India scale-up to meet its skills objective.

Source: UK Trade & Investment



Business & Consumer Service with focus on Retail - May 2008

India tops the 'A T Kearney's ' list of emerging markets for global retailers.

The Indian retail sector is valued at £163 billion, of which organised retail accounts for 6% valued at £9.8 billion. Organised retailing is projected to grow at the rate of about 37% in 2007 and 42% in 2008. It has the potential to generate over £23.5 billion business by 2010.

India has the largest young population in the world - over 890 million people are below 45 years of age (out of 890 million, 25% of India's population is less than 25 years and 70% less than 35 years).    India has more English-speaking people than in the whole of Europe together.

Source: UK Trade & Investment



Real Estate Sector Report from IBEF - April 2008

The Indian real estate sector has witnessed a revolution, driven by the booming economy, favourable demographics and liberalised foreign direct investment (FDI) regime. Growing at a scorching, 35 per cent the realty sector is estimated to be worth US$ 15 billion is emerging as one of the most appealing investment areas for domestic as well as foreign investors. Global players have lined up investments to the tune of US$ 10 billion with the industry also attracting international architects and planners.

The second largest employing sector in India (including construction and facilities management), real estate is linked to about 250 ancillary industries like cement, brick and steel through backward and forward linkages. Consequently, a unit increase in expenditure in this sector has a multiplier effect and the capacity to generate income as high as five times.

Source: India Brand Equity Foundation (IBEF)



Insurance Sector Report from IBEF - April 2008

The Indian insurance sector is on a bull run. The average Indian now spends 5.4 times as much on life insurance as what s/he did seven years ago when the industry was yet to be opened up for private participation.

With the largest number of life insurance policies in force in the world, India's insurance sector accounted for 4.1 per cent of GDP in 2006-07, up from 1.2 per cent in 1999-2000, far ahead of China where insurance accounts for just 1.7 per cent of the GDP and even the US where insurance penetration stands at 4 per cent of the GDP.

Source: India Brand Equity Foundation (IBEF)




Banking Sector Report from IBEF - April 2008

With the Indian economy moving on to a high growth trajectory, consumption levels soaring and investment riding high, the Indian banking sector is at a watershed. Further, as Indian companies globalise and people of Indian origin increase their investment in India, several Indian banks are pursuing global strategies.

The industry has been growing faster than the real economy, resulting in the ratio of assets of commercial banks to GDP increasing to 92.5 per cent at end-March 2007. The Indian banks have also been doing exceptionally well in the financial sector with the price-to-book value being second only to china, according to a report by Boston Consultancy Group.

Source: India Brand Equity Foundation (IBEF)



India Budget 2007-08

The central budget is a powerful instrument of economic policy. A finance minister could use it to pursue major macroeconomics objectives. Two issues are important just now. First, there is the recent emergence of inflation. Some inflation is always there in the Indian economy, but now risen over 6 percent a year.

Second, there is growth of the economy. It has grown at a satisfactory rate, around 8 percent, for the past three years; a finance minister may want to maintain the growth rate over a long period, and raise it.

How far does the budget presented yesterday by P Chidambaram serve either of the above objective, namely inflation control and growth promotion? He reduced a large number of customs duties; one or two may even have a slight effect on consumer prices.

Source: Corporate Catalyst India (CCIndia)



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