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NEWSLETTER

5 Pages 16th Aug 2012 22nd August 2012 www.xedintellect.c

BUSINESS NEWS

ECONOMIC INDICATORS 2 COVER STORY 3 PERSONALITIES OF THE WEEK 4

INDUSTRY ANALYSIS 5 NEWS ANALYSIS 6 NEO CORNER 11 MARKETING NEWS 13

NEWS DIGEST

IN BRIEF

PERSONALITIES OF

THE WEEK

INDUSTRY ANALYSIS

BSE 30

& Nifty

(closing 21st August, 20

CPI July 2012

ECONOMICINDICATOR

BJPs latest reason to stall

parliament: CAG reports

COVER STORY

FMCG companies cut packweight to avoid price

hikes

GLOBAL & MISC. NEWS

India & Russia close tosigning defence deal

worth $ 35 billion

RaghuramRajan

RRIIOOTTSS IINN AASSSSAAMM

MARKETING NEWS

Join us on Facebook

PART ONE

Aung Suu

INDIAN INSURANCINDUSTRY

http://www.facebook.com/pages/Xed-News/129116230504612

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BSE 30 17,794 & Nifty 5,421 (closing 21st August, 2012) Source: Reuters, BSBoth the stock exchanges showed improvements and the BSE 30 closed on a 5 month high on 21st August due to the

following reasons:1. Positive news on the global front especially from US and Europe2. Infosys court victory in the visa fraud case that led to a surge in its share price3. Slowing consumer price index4. Heavy rains in parts of the country which helped Mahindra & Mahindra shares make gains as tractor sales areexpected

Consumer Price Index July 2012 9.86 per cent Source: ReutersConsumer price index (CPI) is often considered to be a more realistic and accurate way to measure inflation. Foractual retail consumers CPI makes more sense versus Whole sale price index. Julys CPI figures are marginally lowethan Junes 9.93 per cent. CPI figures for rural areas stood at 9.76 per cent and for urban areas at 10.10 per cent.The improvement was largely driven by slightly lower prices of fuel and improvement in the monsoons. However, foodinflation continued to be above 11 per cent. Crop sowing has slowed down and the situation is worrying due to overalpoor rain fall. Considering that the inflation levels are still above RBIs comfort zone, rate cuts seem unlikely in thenear term.

stock market or exchange is thecenter of a network of transactionswhere securities buyers meet sellers

at a certain price. A stock market orexchange is not necessary a physical facilityand with the advancement of informationtechnology, traders that exchange theirstocks in the floor of a major stockexchange are rare. The main stock market

in the United States is New York StockExchange (NYSE). In Europe, examples ofstock exchanges include the London StockExchange, the Paris Bourse and theDeutsche Bourse. In Asia, the main stockexchanges include the Tokyo StockExchange, the Hong Kong Stock Exchangeand the Bombay Stock Exchange. LatinAmerica has exchanges such as theBOVESPA in Brazil and the MERVAL inArgentina. Stocks in India had a positiveperformance during the last month. TheSENSEX rallied 533 points or 3.01 percent during the last 30 days. Historically, from 1979 until 2012, the SENSEXaveraged 5311.7, reaching an all time high of 21005.0 in November 2010.

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Thats what happens exactly, when a countrys government turns a deaf ear to the problems of its people. Issuesrelated to North Eastern states always get the last place in the governments priority list. The Media as well, unlesssomething very critical happens, often neglects North Eastern states. Ethnic conflict in Assam is an outcome of theindifference by the Government towards illegal immigration. Its the culmination of the governments deliberate act onegligence towards the North-Eastern states & their people.

What exactly happened? In July, this year, clashes took place between the Bodo community & illegaBangladeshi immigrants resulting in the death of 77 people in Kokrajhar & rendered 5 Lakh people, hailing from ove

400 villages in Assam, homeless. Events turned ugly when a group of students was beaten up in Pune & threateningtext messages were sent across, causing north eastern students exodus in various states of India & even social mediawas utilized to create a climate of terror. In a Pakistani newspaper column, an image of Buddhist monks standingalongside a pile of bodies was posted & various other anti North Eastern matter was uploaded on the internet to flareup sentiments. For the first time social media was used to create terror in the north eastern Diaspora. Thegovernment was prompt in taking action, but the damage was done; it has blocked 200 websites & is continuouslymonitoring content on social sites.

What is an Ethnic conflict?An ethnic conflict normally takes place over the useof natural resources or other issues like religion, among ethnic groups. Such conflictsresult in mass killings & last for a long time. The conflict in Assam is between twogroups, the Bodos which is the largest community in Assam & Bangladeshi Muslimswho have migrated. As per government estimates around 20 million illegal immigrantshave come from Bangladesh.

Well, this is not for the first time when violence broke out in Assam; it has a bloodyhistory of ethnic conflicts. In 1983, over 2000 men, women & children were massacredin a single day in Nellie. Hundreds more died in a clash between the indigenous Bodos& illegal Bangladeshi immigrants in Kokrajhar district of Assam. So far five large scaleclashes have taken place in Assam. In order to understand the problem, one needs tolook at the history.

Bodoland Territorial Council:Since the 60s, Bodos have been demanding autonomy, asking for a separate stateBodoland which lies on the north bank ofBrahmaputra River in Assam, inhabited largelyby the Bodo language speaking community. In the 80s their struggle for a separate stateintensified which resulted in the creation of the Bodoland Liberation Tigers (BLT), howeveBLT gave up its demand for a homeland & signed Bodo Accord with the government ofAssam in 2003. Bodoland Territorial Council (BTC) was established under the Bodo Accordwhich also resulted in the creation of Bodoland Territorial Areas District (BTAD) under thesixth schedule of the Constitution to look after the needs of Bodo dominated areas whichcovered four major districts of Assam Kokrajhar, Udalguri, Baksa & Chirang. The accordwas looked at as a permanent solution to the Bodo problem but failed to live up toexpectations because of its own inherent faults.

Problems in BTC: The Bodo Accord was made to protect the land rights of the Bodosbut contradictorily it also allowed the members of other communities (which includes legal & illegal Bangladeshimmigrants) to acquire land in BTAD. In the last few decades, the demography of Bodoland has changed drasticallydue to the increase in illegal migration of Muslims from Bangladesh. Today the Bodos fear becoming a minority in theiown land. Every year thousands of illegal immigrants get citizen ship by producing forged documents, get employed &acquire land. The Problem of illegal immigration started after the 1971 war, when Bangladesh was created. Waaffected people started to migrate to India & were rehabilitated in north eastern India. Later, these people were given

voter ID cards to vote in the elections. This flawed accord is one of the major reasons for the crisis in Assam today.

Politics after the riots: Even after five days had passed since the violence broke out, the Army was not sent tocontain riots. Both Central & State Governments did what they are best at passing the buck! However, a reliepackage of 300 crores was announced for the riot victims by the Prime minister. The political response has left a lot

to be desired with some of them lending it a communal flavour. Addressing core issues like illegal immigration, whicthis conflict has brought forth is still not being treated with the seriousness it deserves.

Conclusion: Its an undeniable fact that the government has abysmally failed in connecting the seven sisters to

main India. As rightly put by Mr. Tarun Gogoi that Assam is like a volcano, it will erupt again if the problem is not

solved now. The problem of illegal immigration demands attention and so do the other issues of alienation that the

north east faces. Politics needs to go beyond hackneyed communal overtones to address these issues before we have

another Kashmir on our hands.

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Raghuram Govind Rajan Chief Economic Advisor, GOIRaghuram Rajan cannot be said to be a diplomat in the true sense of the term. The 49-year oldsbluntness was on display at a speech he gave in New Delhi on April 14 to an audience comprising someof the most powerful people in India, including Prime Minister Dr. Manmohan Singh. Rajan is poised tobe the new Chief Economic Advisor (CEA) to the Finance Ministry, replacing Kaushik Basu. He alsoserves as an honorary economic advisor to Dr. Manmohan Singh in addition to being the Eric JGleacher Distinguished Service Professor of Finance at the Booth School of Business, University oChicago. He chaired the committee set up by the Planning Commission on financial sector reforms thasubmitted its report in 2008. Rajans stance centres on reforms and fiscal caution which had earliermade him a vocal critic of the current governments policies.

Elite Beginnings:Rajan was born in Bhopal in 1963. His father was a civil servant and the family spentime, among other places, in Sri Lanka, Indonesia and Belgium. Rajan studied electrical engineeringfrom IIT, Delhi, graduating in 1985. Two years later he passed out of IIM, Ahmadabad. In 1991, hereceived his PhD from Massachusetts Institute of Technology with a thesis titled Essays in Bankingand almost immediately joined the Booth School of Business at the University of Chicago as Joseph LGidwitz Professor of Finance. Rajan is credited with being the youngest Chief Economist at IMF, aposition he held from 2003-2007.During his tenure, IMF emerged at the forefront of policy analysis anddiscussions on India and China. He was also instrumental in expanding work on finance, aid anddevelopment, the political economy of reforms and reform at the IMF. He is also the foundationarecipient of the Fisher-Black Prize (2003), an esteemed award given to an under 40 finance theorist bythe American Finance Association.

Illustrious tracks:Dr. Rajans research interests are varied. They include banking, corporate finance

and economic development, with special emphasis on the role finance plays in it. His papers have beenpublished in major economic and finance journals and he has served on the editorial boards of TheAmerican Economic Review and The Journal of Finance. In 2005, Dr. Rajan correctly pointed out howstructural flaws in the US economy would lead to a financial crisis in a paper titled Has FinanciaDevelopment Made the World Riskier?". He predicted the upcoming financial crisis of 2008 at the heighof the housing market bubble when no one wanted to hear it and he was criticized by some of the besteconomists in the world for his views. A prolific writer, Rajans latest book is titledFault Lines: HowHidden Fractures Still Threaten the World Economy. Raghuram Rajan is a good choice for the post oCEA as he has a certain frankness and ability to speak the truth to those in power. He has a tough andchallenging job ahead as he takes over at a time when the Indian economy is juggling slow growth andhigh inflation.

Aung San Suu Kyi-Nobel Laureate and Burmese Opposition LeaderAung San Suu Kyi, Nobel peace laureate and Burmas populist leader, symbolises the struggle of

Burmas people to be free. She is the Chairperson and General Secratary of the National League foDemocracy (NLD), a Burmese pro-democracy party formed in 1988. She is currently the Leader oOpposition in the lower house of the Burmese Government. Suu Kyi is the receipient of a number ointernational awards. She received the the Nobel Peace Prize in 1991. Suu Kyi is set to receive thehighest award given by the United States, the Congressional Gold Medal, when she visits the country inSeptember 2012.

The India connection: Born in 1945 in Rangoon, Suu Kyi is the third child and only daughter oGeneral Aung San, a national leader and independence hero who negotiated Burmas Independencefrom the British Empire in 1947 and was assasinated the same year. Her mother, Khin Kyi, was aprominent Burmese diplomat who represented her country in India and Nepal. Suu Kyi was educated inRangoon till she was 15 years old and later moved to India. In 1964, she graduated from Lady ShriramCollege with a degree in politics. Five years later, she graduated from St.Hughs College, Oxford with aB.A in Philosophy, Politics and Economics. After Oxford, she shifted to New York to work in the United

Nations as an Assistant Secretary in the Advisory Committee on Administrative and BudgetaryQuestions. For two years from 1987 onwards, she worked as a Fellow at the Indian Institute oAdvanced Studies at Shimla, India.

Freedom or Nothing: In 1988, Suu Kyi retured to Burma to care for her ailing mother but stayed onto participate and lead the pro-democracy movement that had started to escalate in a country ruled bya brutal military dictatorship. She ventured into politics riding on the pillars of Ahimsa and an ideologystrongly influenced by Buddhist philosopy. Her outspokeness against the ruling military juntacondemned her to remain under house-arrest for almost 15 of the 21 years she spent in Burma, that isfrom July 20, 1989 till her recent release on November 13, 2010, thus making her one of the worldsmost prominent political prisoners. Suu Kyis struggle is one of the most extraordinary examples of civicourage in Asia in the recent years. She relentlessly and long-sufferingly strived to attain democracyand ethnic conciliation by peaceful means. Her struggles seem to be bearing fruit as the ruling junta isslowly but surely opening the country to reform and democracy.

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us, the

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notlistening to

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advise

caution.

The

struggle for

democracy

and human

rights in

Burma is a

struggle forlife and

dignity. It is

a struggle

that

encompasses

our political,

social and

economic

aspirations.

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Overview: The insurance industry in India is worth USD 66.5 billion (3,68,011 Crores). It isregulated by the apex body IRDA (Insurance Regulatory and Development Authority) and isdivided into two major sectors: Life Insurance & Non-Life Insurance. The life insurance sector isthe fifth largest in the world and is growing at the rate of 32%-34% annually. Currently, the non-life insurance sector is worth 47,000 Crores and is also expected to grow by over 18% till 2015.

The life insurance sector marked its all time lowest growth in 2011 at 10.4% - the sector hasshowcased an average growth of 25% since private players entered in 2001. Foreign DirectInvestment (FDI) up to 26% is allowed by the government in this industry. According to the IRDAreports the total insurance penetration (ratio of premium as a percentage of GDP) has increasedfrom 2.3 in FY-01 to 5.1 in FY-11. The penetration of life insurance is 4.4 whereas that of general insurance is 0.71.

Structure & Major Players: The Life insurance sector is currently dominated by theonly government company in this sector - Life Insurance Corporation of India (LICwhich boasts approximately 65% (2010) market share. Private players like ICICPrudential, SBI Life & Bajaj Allianz collectively make up about 50% of the private lifinsurance market. The non-life insurance sector has four major PSUs & several otheprivate insurance companies. In the mid 2000s, the general insurance sector sawmany Indian companies (including foreign companies in collaboration with domesticfirms) entering this huge untapped market. These companies grew rapidly in theirinitial five-six years eating away the market share of PSUs and in 2011 their marketshare was at 41.3%. The four PSUs - National Insurance, New India AssuranceOriental Insurance and United India Insurance - still continue to hold 58.7% of the

market share collectively. The public sector General Insurance Corporation of India (GIC Re) is the sole re-insurancecompany in India. GIC purchases insurance from another insurance company which helps in risk management.

Current Scenario: In the period from April 2011 to Jan 2012, the non-life insurance sector registered a total grossunderwritten premium of 49,200 Crores a growth of 24.3% over the same period in the previous year. Privatecompanies registered a growth of 27.8% whereas public companies grew by 21.7%. ICICI Lombard maintained itsposition as the leading private sector non-life insurer with gross premium collection of 4,310 crores reflecting a

market share of 23.4% of gross underwritten premium collected by private insurers. State run New India Assurance isthe largest company in the public non-life insurance sector with agross premium income of 6,990 Crores.

In the period from April 2011 to Jan 2012, the life insurance sectorcollected total new business premium income of 90,000 Crores.

State owned LIC recorded a growth of 6.1% in the weighted newbusiness premium. The market leader in the private life insurance ICICI Prudential Life posted a negative growth but managed to

retain its position by holding 6.2% market share in terms ofweighted new business premium amongst private insurers.

History & Evolution: Oriental Life Insurance Company was the firstIndian insurance company started in Kolkata in 1818. The earlytwentieth century saw a substantial rise in insurance companies. In 1956, the Indian government nationalized the lifeinsurance sector & LIC was formed. In 1972, the government nationalized the general insurance sector. The GeneraInsurance Corporation of India - made up of four companies namely: National Insurance, New India AssuranceOriental Insurance and United India Insurance, started operations in 1973. The Indian insurance PSUs enjoyedmonopoly till the late 90s after which the government opened up the industry for private players. The GIC was delinked from its four subsidiaries & was restructured to form Indias only re-insurance company. Since then the industryhas shown tremendous growth. The life & general insurance sectors showcased a CAGR of 25.8% & 17.05%respectively in the years from 2003 to 2010.

Current Issues: Though the industry sounded promising and lucrative in the past decade but in last 4-6 quarters ithas lost its charm. Private players & foreign players have reported pessimistic outlook for the industry as theystruggled to maintain their growth. The general insurance industry is growing at its medium pace but the lifeinsurance sector is struggling with decline in growth. The industry is marred by operational glitches & policy flip-flopsThe top industry players are demanding higher FDI up to 49% in the sector. Amongst other problems like highattrition rate amongst agents, slump in the economy & changes in the product structures margins on life insurancepolicies in India are lowest in Asia; have also led to dismal performance of various insurance companies.

Future Outlook: However, according to recent reports the currently gloomy Indian insurance industry is on a majogrowth path. It is in its golden years & shall grow to about 6,20,597 Crores by 2015 from the current 3,68,011Crores. The report by FICCI & BCG titled 'India Insurance - Turning 10, Going on 20 which has covered theevolution of the industry since 2001, puts forth that the industry will reach approximately 17-22 Lakh crore by

2020. Thus the country will become one of top three life insurance & top 15 non-life insurance markets in the world.

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1) Soft drink major revives past brands to cater to rural market ET/TOIIMPACT: After a major brand research, the Coca-Cola Company has found out that it is difficult to cater to all theregions in India with a single mass product. With huge diversity in the country, the company is falling behind domesticcola makers when it comes to rural markets. Although Coca-Cola & PepsiCo have monopoly in the urban markets, inthe rural markets however, they are far behind local soft drink makers. For deeper penetration in these markets, afew months ago Coca Cola had revived its lemon based soft drink Citra & the company is also now planning to re-launch another soft drink brand RimZim.

In the 90s, the Coca-Cola company had taken RimZim (masala cola) & Citra off the

shelves as it wanted to focus more on mass market products. Citra was a famous brandin South India whereas RimZim was a hit in North India. But after the findings, CocaCola has decided to take help of these products for a larger market share in rural areas.Citra will be sold at a price which is 20% lesser than normal cola drinks. Last year,PepsiCo had also brought back the Dukes brand which it had stopped selling in 2004.

KEY PLAYERS:Coca-Cola, PepsiCo

WHY IT IS IMPORTANT?In the 80s &90s, the soft drink market was dominated by Parle Agro which had productslike Gold Spot, RimZim, Limca, Citra and Thums Up. Coca Cola bought these products and in the mid 90s it onlyfocused on building power brands with products like Thums Up & Limca and pulled out the other brands from themarket.

2) More voices against GAAR Reuters/ET

IMPACT: The Indian government, since its announcement that it will implement GAAR (General Anti-AvoidanceRules), has received opposition from various players in the industry. Latest, to join the team opposing GAAR is one othe apex body of trade associations in India ASSOCHAM (Associated Chambers of Commerce and Industry of India)Supporting the CIIs stand to defer the implementation by five years to 2018 ASSOCHAM had said thaimplementing GAAR in coming years will create a conflict with previous treaties. India had entered a treaty with taxhavens like Mauritius & Singapore. GAAR denies any relaxation in taxes & also has retrospective tax amendmentswhich would hamper foreign investments in the country. The Indian economy is gloomy with the effects of Eurozone

crisis impacting the nation. On top of it, the recent policy flip-flops & retrospectivetax amendments have made the country least popular for investments. The countrycurrently needs inward investments & implementing GAAR will only make matterworse. The government was supposed to implement GAAR in this financial year budeferred it by one year owing to opposition.

KEY PLAYERS:ASSOCHAM, Dell, CII

WHY IT IS IMPORTANT? Recently, a top official from the US based DelCorporation, openly criticized the Indian government for its uncertain regulatoryclimate. The official said that foreign investors are repelling the idea of investing in

India due to red tape. In order to take any decision, it has to be approved by a long list of bureaucrats & new decisionmakers do not honor agreements & contracts signed by the previous ones. Germanys Fraport an airport operatorwas one of the victims of policy flip flops & finally shut down its India operations & exited the country.

3) Jet Airways loses its top position BS/HTIMPACT: The July results of the domestic aviation sector took everyone by surprise. Indigo Airlines jumped to thenumber one spot in the aviation sector ending Jet Airways reign as the market leader since past few years. The aircarrier acquired 27% market share in the aviation market leaving behind Jet Airways at 26.6%. Wadia Groups GoAi& Kingfisher Airlines at 7% & 3.4% market share respectively settled atsecond last & last position in the aviation sector. There are various

factors that have lead to Indigo Airlines growth - the decline of KingfisherAirlines, pilots strike in Air India & Indigos aircraft restructuring drive.Although from the statistics (picture) it can be seen that Air India & JetAirways has more number of aircrafts than Indigo but the seating capacityin Indigos aircrafts are much higher than that of the other airline carriers.

KEY PLAYERS:Indigo, Jet Airways

WHY IT IS IMPORTANT? Since commencing operations six years ago,Indigo Airlines has seen an upward trend. Although initially it faced toughcompetition from KFA & Jet, the companys strategy which focused onoperations helped it grow. Analysts also say that the fall of KFA hassubstantially contributed to Indigos rise.

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4) Television advertisers in trouble with popularity of digital video recorders ET/TOIIMPACT: Long gone will be those days when watching television was a pain due to the unwanted advertisementsbetween movies & serials. The new age digital video recorders (DVRs) which can record your favourite programmeswith an option to skip the advertisements. Though it is good news for the viewers, the fast-forward feature has comeoff as a trouble maker for the advertisers who spend crores on making advertisements. In cities, the majoritypopulation is time crunched & with an average 4-5 members in the family, people like to watch their favouriteprograms on their own leisure time and hence many viewers now prefer to record the programs.

Also the phenomenon of internet TV is gaining popularity amongst Indian consumers. Initially some television showsused to upload videos of the episodes on their websites, but now live streaming of TV shows is also becoming popular

amongst viewers. The Amir Khan anchored reality show Satyamev Jayatereceived about a million viewers on television broadcast as well as oninternet TV.

KEY PLAYERS:Digital Video Recorder, Internet TV

WHY IT IS IMPORTANT?DVRs have become very famous in developedcountries, over forty three percent of US population and almost half othe television viewers in Great Britain are using DVRs. In India, aboufour percent of people are using DVRs & it will take years for therecorder to penetrate in the majority of the households. In the case o

advertisers they can adopt new strategies like shorter ads, taking ad slots at the beginning & end of TV breaks, popups & sponsorships.

5) Pioneer of low cost airline in India, Capt Gopinath, to start another airlineThe Hindu Business Line/ETIMPACT: The pioneer who fulfilled every Indians dream to travel by an aeroplane will make a comeback in theaviation sector after his first low cost airline Air Deccan was devoured by Vijay Mallaya led Kingfisher AirlinesTaking in consideration that the current domestic airlines (low-cost & full service) do not operate between twoparticular tier one cities & many tier two cities & all rural areas Gopinath has started the airlines which will operateabout twenty six flights in Gujarat. Other small airline operators which are currently operating or are planning to startoperations between small cities include:

Air Mantra (subsidiary of Religare) operates flights between Amritsar & Chandigarh. Air Pegasus will be the first operator to launch flights between southern Indian cities. Spirit Air connects Jamshedpur & Ranchi to Kolkata etc.

KEY PLAYERS:Capt Gopinath, Air Mantra

WHY IT IS IMPORTANT? After a slump in the aviation sector in past four years,

the small airline companies have started connecting various tourist cities and planto start operations in the interior parts of the country. Capt Gopinath had startedIndias first no frills airline Air Deccan which at one point of time sold air tickets forRs. 1. However, other players like Jet Airways, Air India, and Kingfisher started tofeel the heat as many people started options for low cost air travel. Amid majorlosses & pressure from industry & KFA promoter Air Deccan was sold off to KFAwhich is currently facing turbulent financial times.

6) Essar Oil to refine cheaper but heavier-dirtier crude oil to increase profitsET/ The Hindu Business LineIMPACT: Essar Oil has taken significant steps towards increasing its Gross Refining Margin (GRM). The company isbanking on its Vadinar refinerys ability to process heavy to ultra-heavy crude oil. In June, the company upgraded thisrefinery to process 405,000 barrels of oil per day (about 9% of Indias refining capacity) and increased capability tohandle cheaper but heavier grades of crude oil. In Q1-FY12 the company reported a GRM of $ 4.69 per barrel ascompared to $ 4.20 in Q1-FY11. Due to the Vadinar refinerys capability, the company is able to acquire crude oil $ 3

4 cheaper than the Dubai benchmark prices which in turn is getting directlyreflected in the current GRM.

KEY PLAYERS:Essar Oil, Vadinar refinery

WHY IT IS IMPORTANT? Essar Oils ability to process heavy crude oil wilenable it to source this mineral from countries which have huge deposits of thistype. The fact that heavy crude is cheaper than light crude will significantly loweEssar Oils procurement costs thus helping them widen their margins and raiseprofits. Essar plans to buy 15-20% of its crude oil needs from the domestic

market, 35-40% from Latin America (which has the largest reserves of heavy crude oil in the world) and 30-40% fromthe Middle-East (which has huge amounts of conventional oil reserves). By using this strategy, the company plans toboost margins to $ 7-8 per barrel.

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7) Government makes stricter norms on standard packaging of goods - MoneyLife/BS/TOIIMPACT: Major FMCG companies, which are struggling to maintain product prices amidst rising prices of rawmaterials, have hit another setback: the government has made it mandatory to follow standard packaging norms fromNovember this year. According to the government bodies unfair trade practices are prevalent in the FMCG industryThe companies are known to reduce the grammage in the products to maintain the prices. To curb this practice, thegovernment has taken this step to standardise packaging size.

However, FMCG companies which are operating under a slow economy, high inflation & highly competitive market saythat in order to avoid price rises they have to adopt the strategy of reducing grammage. With weaker rupee importshave become expensive, and the prices of raw materials are also shooting sky high.

FMCG companies reduce the weight so that they can avoid increasing prices withoutany negative impact on their margins. However, these companies have increased theprices by about ten percent on goods since last mid 2011.

KEY PLAYERS:FMCG companies, Indian government

WHY IT IS IMPORTANT? The highly competitive FMCG industry has many players,thus Indian consumers have a variety of products to choose from. If the price of aparticular product is increased they easily switch over to the competitors products.With the government implementing the packaging norm on 19 commodities, consumers are sure to reap benefits.

8) Goldman Sachs projects bright future for Reliance Industries The Hindu Business Line/ETIMPACT: American investment banking firm Goldman Sachs has recently released a report on the future outlook othe private oil company - RIL. According to the report, Mukesh Ambani led RIL has the potential to become a $ 100

billion company by 2017. Currently the market capitalization of the company is at USD 47 billion. However, the reporstates that Reliance can achieve the goal only under the following conditions:

It gets approval from the government to increase gas prices & investments Focuses on its core business i.e. oil Uses the surplus cash to give dividends Expand its petrochemical business

Reliance, which sells gas at $8 per million BTU, will have to increase its focus on the long term benefits & have to taktough decisions to sail through gloomy economic conditions. The company might be required to compromise on itshort term benefits and should not get bogged down with cyclical weakness & lesser returns.

KEY PLAYERS:RIL, Goldman Sachs

WHY IT IS IMPORTANT? Reliance has been in trouble since the output in its KG DGblock declined substantially affecting its production. With the state run OMCs posting

record loss in the June quarter of 2012, Reliance is also struggling to maintain itsgrowth. RIL also sold its Kurdish oil blocks to US based Chevron in past few monthsIn the general meeting this year, Chairman Mukesh Ambani had announced that thecompany will focus on its core business and shall diversify from any operations thacontribute to below 12 percent of the groups overall revenues.

9) BJPs latest reason to stall parliament: CAG reports TOI/ The Hindu Business LineIMPACT: Adding to the worries of congress and PM in particular, the Comptroller and Auditor General tabled threekey reports in Parliament on Friday. The first report on coal block allocation points towards 1.86 lakh crore gainaccrued by 25 private companies due to the shortcomings of the governments nomination based allocation instead oglobally accepted competitive bidding method. In its second report, CAG accused the government of being partial inallocating GMR led DIAL (Delhi International Airport Ltd) the contract. It has also questioned the validity of heavyairport development fees as it was not part of the initial contract. The third report brings attention to Reliance Powergetting government benefits such as free coal worth 29,033 crore. In reply, the government has so far denied any

wrong doings and even accused CAG of going beyond its constitutional mandate. However, it hasnt stopped BJP &other opposition parties from disrupting parliamentary proceedingsin a manner which can be called un-parliamentary at best.

KEY PLAYERS: CAG, DIAL, CIL, Reliance Power, GoI

WHY IT IS IMPORTANT? It may be recalled that PM ManmohanSingh, who is currently almost everyones target, was one of thefirst advocates of competitive bidding procedure. However, theproposal for competitive bidding never saw daylight, thanks to thedisregard from left, right and centre. The purpose of CAG reports isto force our leaders to discuss and debate instead of stalling theworking of the House and economy, which unfortunately it hasmanaged to do at best in recent times.

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10) PSBs slip in asset quality; FinMin orders them to phase out unsecured short term loans -Moneycontrol/TOIIMPACT:Indias top PSBs (Public Sector Banks) viz. SBI, PNB, Canara Bank, Bank of India and Union Bank of Indiahave gone through a sharp decline in the quality of their assets in Apr-Jun quarter, with slippages increasing acrossectors. SBIs gross non-performing assets have risen to a whopping47,000 crore, due to slippages worth10, 000crore in June quarter. The NPAs now stand at 4.9 per cent of gross advances. Collective NPAs of PSBs are up by a63.7 per cent in Apr-Jun quarter, amounting to 85,200 crore. In comparison, growth in slippages of private secto

banks has largely remained flat, where their aggregate NPAs havegrown 6.1 per cent to 16,900 crore. Analysts have predicted tha

SBI is likely to focus more on profit growth, which would reduce itprovisioning coverage ratio (PCR) further. Hence, to reduce

pressure on balance sheets of banks, Finance Ministry has asked alPSBs to phase out short term loans that are not backed bycollaterals.

KEY PLAYERS: Finance Ministry, PSBs

WHY IT IS IMPORTANT? Some Reports on the Indian bankingsector have shown that the rise in gross NPAs of state ownedbanks is linked with weak business environment in addition toheightened risk from sectors like textiles, power, aviation andmetals. The Ministrys earlier guidelines asking PSBs to strengthentheir process of loan-sanctions have not produced the desired

results.

11) India to restructure $35 bn debt held by its power utilities Bloomberg/DNA/LivemintIMPACT: The Ministry of Finance and the Planning Commission hasprepared a financial restructuring package for government-owned powerdistribution companies (discoms) in the country, whose total debt stands at1.9 lakh crore ($35 billion). According to the ministrys formula, which is

scheduled to be discussed in parliament soon, half of the debt will betransferred to the governments of states while the remaining will berescheduled by the banks and allowed a three-year moratorium onprincipal repayments. Reacting to this proposal, Power Finance Corporation(PFC) has expressed its concerns that it might not be able to restructurethe short term borrowings of ailing discoms. Instead the NBFC offersextension of transitional short-term loans.

KEY PLAYERS: Ministry of Finance and the Planning Commission, discoms

WHY IT IS IMPORTANT? The discoms have seldom been a profit making enterprise. Nearly 27 per cent of theelectricity suffers transmission losses because of dissipation through wires and theft. Further, various stategovernments offer free or cheap power to farmers & masses at the cost of dicoms profits. Unable to retrieve sufficientrevenues from tariffs, discoms reduce purchasing of electricity, leading to massive blackouts. In such a scenariobanks have become reluctant to provide loans to the power sector as a whole. Hence restructuring is seen as onlylogical solution to the issue.

12) India and Russia close to signing biggest-ever defence deal worth $ 35 billion- ETIMPACT: India which is in the process of upgrading its military with a massive $35 billion investment plan expandeover a period of 20 years, is now close to inking a significant deal with its old ally Russia. The two countries will bsigning a preliminary design contract (PDC) for development and production of fifth-generation fighter aircraftExpected to be signed by the year end the $11 billion deal will see equal contribution from both sides. The fighte

which is based on Sukhoi T-50 willbe adapted according to Indian

Airforces specifications. Indian Airforce has also shown urgency toseal the $20 billion deal for 126 Rafale fighters within this fiscal yearIndia is also preparing to buy 22 heavy-duty Apache helicoptegunships from USA in a deal worth $1.4 billion as part of its plans toinduct 900 helicopters in the coming decade.

KEY PLAYERS: US, India, Russia, IAF

WHY IT IS IMPORTANT? It may be recalled that the US had lost inthe final stages of negotiations earlier where Rafale emerged as theNo.1 choice of Indian Air Force. Hence, now its focussing on thehelicopter deals where its Chinooks (produced by Boeing) are upagainst Russias Mi-26 choppers.

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13) Assange to US: Stop Witch Hunt against WikiLeaks- NYT/ ReutersIMPACT: Stuck in a small office in the red-brick apartment block ofEcuadors embassy in London since JuneWikiLeaks founder Julian Assange got a chance to hit the headlines again when he accused the US of carrying out a

Witch Huntagainst WikiLeaks employees. The Australia-born hacker who is often recognised as a crusader for freespeech by media & a public safety hazard by governments, earned sudden fame after leaking several Pentagon &other classified documents on Afghan war. He is currently accused of sexual molestation, charges that he denies, andis sought by the British government which plans to extradite him to Sweden. The government of Ecuador has agreedto provide him asylum, though its not clear how Assange will manage to leave the embassy without getting arrestedby the UK police standing at the embassy gates. The US government on the

other hand has denied witch-hunt charges saying that there arent anycriminal charges against the WikiLeaks founder in the US.

KEY PLAYERS: Julian Assange, UK, Ecuador, Sweden

WHY IT IS IMPORTANT? Reacting on the latest developments, former USState Department spokesperson P.J. Crowley has said that Assange mighthave made things more complicated for himself after his comments, whichmight be seen as a direct challenge to Obama, who is preparing forelections these days. Incidentally, Ecuadors President Correa from whomhe seeks asylum to continue his quest for freedom of speech, has reportedly himself persecuted whistle blowers onmany occasions in his own country.

14) Nestle chief demands end of businesses using food for biofuel production- Reuters/ The Guardian

IMPACT: Nestle chief Peter Brabeck has joined the expanding group of activists who have opposed the use of foodproducts like corn & rape seed in biofuel production. He has asked politicians to lobby against firms that are engagedin such business. However, he also added that biofuel production should not be terminated entirely but needs to be

shifted towards production technologies using other organic materialsEarlier this year US, which is facing one of the worst droughts in its historycalled EPA (Environmental Protection Agency) to remove its directive forcingnearly 40 per cent of its corn crop to be turned into biodiesel. At the sametime, Europe continues to use 60 per cent of its rape seeds for bio fuel, withGermany, France and Italy leading the charge.

KEY PLAYERS: Peter Brabeck, EPA, EU

WHY IT IS IMPORTANT? Though biofuels are considered as environmenfriendly, these are often being criticized for pushing up world food prices by

various agencies, NGOs and even the United Nations. Recently Germanresearchers have come up with claims that European-produced biodiesel does not meet the EU emissions targetAccording to EU norms greenhouse gas emissions during production & usage of biofuels must be at least 35% lowethan those from fossil fuels. However, their tests showed that the fuels were hardly reaching the 30 per cent markstrengthening the argument that their usage is not worthwhile.

15) This time Independence Day was bigger than Diwali for Supermarkets in India- ET/TOIIMPACT: Independence Day celebrations lasted for a week this year, at least for the supermarkets in India, which recorded highest-ever weekly sales during this period. Heavydiscounts supported by strong participation of various consumer product companies on FMCGproducts, apparels and consumer durables were able to pull record crowds. This trend waskind of expected by the retailers who see consumers trying to save maximum before theprices zoom higher due to weak monsoon this year. However, what came as a surprise forstore owners and market experts was consumer excitement towards purchase of mobile

phones, LED TVs and other gadgets which are generally categorised under d iscretionaryspending. The trend was visible predominantly in the sales chart ofMobile Store whichshowed 45% y-o-y hike during Independence Day sales boom. Similar results were alsoreported by Future Group's electronic retail chain eZone, Videocon Group's electronic retailchain Next and others, who all reported higher than last years Diwali sales.

KEY PLAYERS: Retail stores

WHY IT IS IMPORTANT? Indian retailers might have generated decent results withdiscounts during Independence Day week, but they are not confident about the sustenanceof such performance. Moreover, such exercises put extra pressure on the profit margins ofretailers, hence cannot be repeated on frequent basis. Moreover, due to constant decline indiscretionary spending by Indian consumers, Fitch has already downgraded the retail sectorto negative from stable.

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Rockets crazy ride

f Industry pundits are to be believed, the Indian e-commerce market is entering an interesting phase. Doubts

are being expressed about the models of existing market leaders and most leading players have gotten as muchfunding as they could realistically expect. Now its time for the revenues to deliver, though it is not clear if that

will in fact happen in a market where customer loyalty is tenuous at best.

The situation has been made stranger still with the entry of players likejabong.com and the lesser known but credible fabfurnish.com andheavenandhome.com (both in the home furnishings and fittings space). Jabongssuccess story is unbelievable. What took at least a years w orth of effort formarket leaders like Myntra and Flipkart, was achieved in a few short months byJabong. Their site traffic has already crossed that of players like Myntra andfashionandyou.com. A lot of people are delighted with Jabongs service. There arethe usual detractors as well but then every e-commerce site has its share. The

question that should be crossing your minds right now is that how is it possiblefor a brand new player to get such incredible figures so soon and also start advertising on TV, one of the mostexpensive advertising mediums.

The answer lies not with Jabong but rather with the kingmaker backing the upstart. The kingmaker in question is

the infamous Rocket Internet. This incubator and Venture Fund is a German company formed by the threebrothers, Marc, Alexander and Oliver Samwer. Rocket Internet has a string of successful startups to its credit andhas raised eyebrows around the world. It was only natural that the German blitzkrieg specialists would target

India considering the recent success of e-commerce in the country.

About the foundersThe sons of corporate lawyers in Cologne, the

Samwer brothers were exposed to businessesearly in their life. In fact it was in their teensthat they thought up the idea of founding theirown company. Inspired by successes like that ofRichard Bransons Virgin Group, their initialthoughts were towards Shipping or Airlines.However, it was during the heady dot com yearsof the late 90s that the brothers found their

true calling. The eldest brother, Oliver Samwer did his summer internship in the Silicon Valley where heinterviewed a lot of entrepreneurs and published a report detailing his findings. All the three brothers sport nearperfect CVs with the right brand names and this reflects in their selection of people to head their various venturesOliver Samwer leads the brothers and is also considered the most hard to work with.

Beginnings

1998 was an exciting time in Silicon Valley and it was then that the brothers decided to start their own venture inGermany. The venture Alando.com was inspired by e-bays business model. The site targeted hobbyists and theinitial items auctioned on the site came from the brothers own collection of toys. Alandos success was testified byeBays purchase of the site for $53 million. There has been no looking back since then as the Samwer brothersrefined their faithful if somewhat controversial formula for success.

E-commerce and originality or rather the lack of it

Most entrepreneurs are enamored with the power of the idea and arguably, rightly so. After all selling stuff onlinewas someones brilliant idea that gave birth to a whole new industry and ancillary technologies. The one original

I

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idea is the holy grail most future entrepreneurs lust after. They wish to see their names associated with not merelyan innovation but a spark of originality that will seal their destiny. The likes of Binny Bansal and Kunal Bahl mightgrudgingly agree. However, look at the much covered Indian e-commerce industry. It has its share of successstories, but is there anything truly original?

The fact is Snapdeal or Flipkart, no matter how you look at them, have taken liberal doses of inspiration from theoriginal big daddies of e-commerce such as Amazon, eBay and Groupon. Indian e-commerce rightly didnt decide tore-invent the wheel, they simply gave it a local flavor that worked for the modern picky Indian buyer. After all, acompany cannot be patented so it is not a crime to copy a business model. Indian e-commerce might not win anyrewards for originality but it does work, so far.

When copying works

Rocket internets Samwer brothers have often been painted as being cold and methodical by global and German

media. They somewhat epitomize German efficiency; the same efficiency that gave us BMW and Mercedes, andalmost overran the world in the 1940s. They have converted entrepreneurship and launching e-commercewebsites into an art form devoted to maximizing efficiency. In other words, if you want to clone a business model,perhaps nobody does it better than the Samwer brothers. They are rather unapologetic about it and considerthemselves, execution specialists.

Their business approach is based on simply waiting till someone does something new and then doing the exact

same thing with a slightly different name. The only difference is that Rocket knows what its doing and gets it donewith military exactness leaving little room for error.

Be it Zalando, which is a replica of Zappos or the recent Pinspire which is a copy of Pinterest, the Samwers arebusiness Xerox machines without equal (at least in the field of e-commerce) and they are making money doing itCitydeal.com which was modeled on groupon was sold to groupon itself for $126 million. For a company to bebrought over at such significant valuations means that the company in question was generating serious traffic andwas enough of a threat to justify the acquisition. So what makes Rocket tick?

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1)FMCG companies cut pack weight to avoid price hikes TOI/BL Aug 16Despite slowing growth and rising cost pressure, consumer goods companies aredoing all it takes to hold back price hikes. As companies begin to comply with thestandard packaging norms, they are reducing the weight of packs, known asgrammage in trade parlance, to the nearest standard weight in a bid to keep pricesunchanged. Even in cases where grammages have been increased to conventionalweights, companies are focusing on cost absorption to ensure that volumes don'tsuffer. For consumers, this spells good news. Due to increase in cost of raw materialsand the rupee depreciation, which has made imports more expensive, FMCG

companies have increased prices by 8-10% since July 2011.

2) PepsiCo ties up with LT Foods to enhance Kurkure output BL/BS Aug 16

Global food and beverage player PepsiCo has signed up with Delhi-based LT Foods fomanufacturing, processing and packaging of its rice-based snack, Kurkure. LT Foods isknown for its Daawat Basmati rice brand. A new plant with a capacity of 796 tonnes amonth has been set up under Daawat Foods Ltd, which is a majority-owned subsidiaryof the LT foods. The plant is located at Kamaspur, near Sonepat, Haryana, on theoutskirts of Delhi. To build on this opportunity, we are looking at greater support fromour business partners and have tied up with LT Foods as one of our co-packers forKurkure, he added. PepsiCo works on an outsourced model. Its food division has threeself-owned plants and a few co-packers across India. The tie-up would entail LT Foodsbeing paid conversion charges a combination of return on investment andoperating cost.

3)HULs plan to enhance the Axe effect ET Aug 17FMCG major Hindustan Unilever has positioned its premium deodorant Axe as themother brand for all its male grooming products. The company has recently enteredthe personal wash segment and in a span of six months this year launched twocategories body wash and soaps. The company already has Axe in categories suchas shaving cream, talcum powder and cologne for men. At present, grooming productsfor men account for 50 per cent of the total skin, body and hair care market.According to Neilsen, the body wash segment in India is a mere Rs 44 crore and isgrowing at 46 per cent. HUL is the biggest player in this segment with a 36 per centshare with brands such as Lux, Dove, and Pears and now Axe.

4) Makeover at Big Bazaar Business Standard Aug 17Big Bazaar, the 164-strong hypermarket chain of the Future group, seems to befollowing its tagline Naye India Ka Bazaar (New Indias bazaar) quite faithfully. The11-year-old chain is revamping its stores in major cities to stay relevant to shopperswho are asking for more and are spoilt for choices by other hypermarket chains suchas Tata-run Star Bazaar, Aditya Birlas more, Bhartis Easyday and D Mart. Customersin top cities such as Mumbai, NCR (National Capital Region), Bangalore and othershave shopped in modern retail for the last 10 years and are asking for betterexperience. The scattered look on the ground floor is gone. What you see is neatlypiled stocks of apparels in colourful racks, a live bakery, and wider isle width at thefood and grocery section. And Bollywood tracks have been replaced by popnumbers. The concept of bazaar and the sense of abundance are still there but the

whole focus of the revamp is to give more convenience to customers and provide depth in categories.

5)Govt set to notify 51% multi-brand retail FDI in Sept Business Standard Aug 20The government has finally decided to bite the bullet on allowing 51 per cent foreigndirect investment (FDI) in multi-brand retail, albeit in a different format. The long-pending Cabinet decision is set to be notified by the second week of September, afterthe Parliaments monsoon session is over, with a clear message that the execution of thedecision would lie in the court of the states. The main thing now is that Prime MinisterManmohan Singh wants to roll out the decision. Earlier, the Cabinet had cleared 100 percent FDI in single-brand retail and up to 51 per cent in multi-brand retail. However, afterpersistent protests by Trinamool Congress and the Opposition, the government notifiedonly one of the decisions hiking FDI from the then cap of 51 per cent in single-brandretail.

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6) Fresh 'Aer' in air care market Business Standard Aug 20Rekindling the old romance or seducing a new love, whatever the reason, GodreConsumer Products Limited (GCPL) is back to flirting with the air care category after agap of two years. The company has launched its air freshener brand, Aer, setting itssights on the air care market for the home as well as car segment simultaneously. Torecount the back story, Godrej in partnership with US consumer goods company, SaraLee, had introduced the latters air freshener brand, Ambi Pur. However, in late 2009fast moving consumer goods major P&G bought out the brand from the parent companyglobally. Following which, despite holding the licensing rights for Ambi Pur till 2012Godrej chose an early exit, surrendering the licence in 2010 itself.

7) Driven by India, Nimbuzz eyes 400 million users by 2014 Economic Times Aug 20Instant messaging platform Nimbuzz expects the Indian market to be one of the maindrivers in touching the 400-million userbase mark in the next two years. The companyhad recently announced crossing the 100 million user mark across 80 countries,entering the league of top 20 most-used internet platforms in mobile and Webcommunications space. Nimbuzz counts What's App, Blackberry messenger, Skype,WeChat and Yahoo messenger as rival platforms across the world. India has been astrong market for us and we have seen strong adoption across platforms, especiallyAndroid. While in earlier days, the numbers were coming from the application beingpre-bundled, the additions are now coming from people downloading the applicationon their smartphones.

8)FMCG companies bank on speed to win Business Line Aug 21Fast-moving consumer goods (FMCG) companies are using speed as a competitiveweapon to win in the market place, especially when talks of a slowdown bring thepossibility of down trading into sharp focus. Growth in the FMCG industry has not loststeam even as other sectors have slowed down, but there is concern about a possibleimpact considering a deficient monsoon this year. The industry believes there is oneweapon which can help companies win, and that is speed. A Boston ConsultingGroup (BCG) report, 'Speed To Win, says increased agility can solidify a competitiveposition, boost profitability and reduce risk. It says for standard new producdevelopment, a seven months time to market can separate the best in class fromaverage players. But would it also work in a slowdown? "In slowdown situation it is

even more important as the consumers typically start to change their consumption patterns and it is important torefine the offerings (in terms of price pack architecture, composition and packaging) to ensure alignment with theconsumer requirements," said Abheek Singhi, partner & director, BCG. Take the case of Nivea lipcare. Speed helpedthe company redefine this category with the trade in terms of merchandising and distribution. The category wastreated like an "impulse confectionery" and not like a traditional skincare category.

9) FMCG companies take their brand war to muesli, oats and olive oils Economic Times Aug 22

Emerging foods categories such as muesli, oats and olive oils are getting increasinglycompetitive with more food marketers joining the rush to capitalise on increasingdemand for health food. Edible oil major Marico will extend its Saffola brand into the Rs100-crore muesli market this week, likely to be followed by GlaxoSmithkline ConsumerHealthcare (GSKCH)'s within few months. "We are building Saffola edible oils brand to aplatform of health products," Sameer Satpathy, consumer products marketing head atMarico, said, confirming the brand extension into muesli. The firm had launched Saffola

oats in 2010. Muesli is one of the fastest growing packaged food products, growing 40%a year. So far a domain of multinational Kellogg and homegrown Bagrry's, German firmDr. Oetker entered the muesli market last year with Vitalis brand.

10)Tata Tea has Grand designs on RussiaBusiness Line Aug 22In a bid to expand its global tea and coffee business, Tata Global Beverages hasacquired SuntyCo Holding, the owner of the Grand tea and coffee business in Russiafor an undisclosed amount. Tata Global Beverages and the European Bank oReconstruction and Development, which together held 51 per cent of SuntyCo Holdingshave acquired the remaining 49 per cent of shares. In 2009, the beverage giant, thenTata Tea, had acquired 51 per cent in the Russian company, along with the EuropeanBank for Reconstruction and Development. Tea is Russias national drink and anaverage Russian consumes 1.2 kg a year, compared to the global average of 0.3 kg.

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Fast-growing sectors foretell consumption story

http://www.business-standard.com/india/news/fast-growing-sectors-foretell-consumption-story/483046/

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http://www.business-standard.com/india/news/fast-growing-sectors-foretell-consumption-story/483046/http://www.business-standard.com/india/news/fast-growing-sectors-foretell-consumption-story/483046/http://www.business-standard.com/india/news/fast-growing-sectors-foretell-consumption-story/483046/

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SOURCES

Charts & Graphs:http://www.tradingeconomics.com/india/exports

SOURCES FOR COVER STORY

http://articles.timesofindia.indiatimes.com/2012-08-14/guwahati/33200251_1_assam-accord-samujjal-bhattacharya-aasuhttp://en.wikipedia.org/wiki/2012_Assam_violence

http://www.tehelka.com/story_main53.asp?filename=Ne250812Politics.asphttp://www.indianexpress.com/news/how-to-share-assam/980438/0

http://www.nytimes.com/2012/07/29/world/asia/after-tensions-in-indias-east-turn-deadly-claims-officials-turned-a-blind-eye.html?_r=1

http://www.hindustantimes.com/India-news/Assam/What-lead-to-Assam-violence/Article1-895836.aspxhttp://www.dailypioneer.com/columnists/item/52143-demographic-change-and-assam-violence.html

http://www.ndtv.com/article/cheat-sheet/assam-violence-a-blot-on-the-face-of-our-country-says-pm-announces-rs-300-cr-relief-top-10-developme-248509?pfrom=home-otherstories

http://www.telegraphindia.com/1120803/jsp/opinion/story_15804467.jsp#.UC90Uania7shttp://newindianexpress.com/magazine/voices/article581501.ece

SOURCES FOR PERSONALITIES OF THE WEEK:http://en.wikipedia.org/wiki/Raghuram_Rajan

http://www.chicagobooth.edu/faculty/bio.aspx?person_id=12825569280http://www.livemint.com/2012/08/13000052/Raghuram-Rajan--Right-guy-at.html

http://www.economist.com/blogs/banyan/2012/08/financial-reform-india-0?zid=316&ah=2f6fb672faf113fdd3b11cd1b1bf8a77http://useconomy.about.com/od/Economists/p/Raghuram-Rajan.htm

http://en.wikipedia.org/wiki/Aung_San_Suu_Kyi

http://www.britannica.com/EBchecked/topic/43227/Aung-San-Suu-Kyi

http://www.burmacampaign.org.uk/index.php/burma/about-burma/about-burma/a-biography-of-aung-san-suu-kyi

INDUSTRY ANALYSIS:

http://en.wikipedia.org/wiki/Insurance_in_Indiahttp://www.business-standard.com/india/news/non-life-insurance-sector-to-reach-rs-90000-cr-by-2015/449650/ http://articles.economictimes.indiatimes.com/2012-06-27/news/32441345_1_insurance-sector-bharti-axa-life-insurance-promoters http://articles.economictimes.indiatimes.com/2011-04-10/news/29403390_1_life-insurance-managing-director-insurance-markets-

premium-incomehttp://www.moneylife.in/article/8/21584.html http://www.ibef.org/industry/insurance_industry.aspx http://www.ey.com/GL/en/Industries/Financial-Services/Insurance/Global-insurance-outlook-for-2012---Overview http://www.ey.com/Publication/vwLUAssets/Global_insurance_industry_outlook_for_012/$FILE/2012%20global%20insurance%20outlook_final.pdfhttp://www.irda.gov.in/ADMINCMS/cms/frmGeneral_NoYearList.aspx?DF=AR&mid=11.1 http://www.towerswatson.com/india/newsletters/india-market-non-life-insurance/6903 http://www.towerswatson.com/india/newsletters/india-market-life-insurance/6836 http://ivgpartners.com/reports/Profile%20of%20Non%20Life%20Insurance%20Market%20in%20India.pdf http://www.irda.gov.in/ADMINCMS/cms/NormalData_Layout.aspx?page=PageNo4&mid=2

SOURCES FOR NEWS ANALYSIS (1-15)

1) Soft drink major revives past brands to cater to rural market ET/TOIhttp://economictimes.indiatimes.com/news/news-by-industry/cons-products/food/Coca-Cola-to-relaunch-RimZim-of-1980s/articleshow/15500097.cmshttp://articles.economictimes.indiatimes.com/2012-02-13/news/31055270_1_maaza-thums-limca2) More voices against GAAR Reuters/EThttp://articles.economictimes.indiatimes.com/2012-08-16/news/33233018_1_assocham-gaar-rules-rajkumar-dhoothttp://in.reuters.com/article/2012/08/17/dell-india-business-idINDEE87G094201208173) Jet Airways loses its top position BS/HThttp://articles.economictimes.indiatimes.com/2012-08-17/news/33249526_1_market-share-air-passenger-data-

domestic-carriershttp://www.hindustantimes.com/News-Feed/SectorsAviation/IndiGo-dethrones-Jet-Airways-as-India-s-No-1-airline/Article1-915217.aspxhttp://articles.economictimes.indiatimes.com/2012-08-21/news/33303227_1_jet-airways-ceo-nikos-kardassis-indigohttp://www.business-standard.com/india/news/indigo-flies-past-jet-to-become-largest-airline/483595/4) Television advertisers in trouble with popularity of digital video recorders ET/TOIhttp://articles.economictimes.indiatimes.com/2012-08-17/news/33249674_1_dvr-channels-record-programmeshttp://timesofindia.indiatimes.com/entertainment/tv/Internet-helps-TV-shows-gain-popularity/articleshow/15598141.cms?5) Pioneer of low cost airline in India, Capt Gopinath, to start another airlineThe Hindu Business Line/EThttp://articles.economictimes.indiatimes.com/2012-08-18/news/33261595_1_kingfisher-airlines-karina-airlines-regional-airlinehttp://www.thehindubusinessline.com/industry-and-economy/logistics/article3762810.ece

http://www.tradingeconomics.com/india/exportshttp://www.tradingeconomics.com/india/exportshttp://articles.timesofindia.indiatimes.com/2012-08-14/guwahati/33200251_1_assam-accord-samujjal-bhattacharya-aasuhttp://en.wikipedia.org/wiki/2012_Assam_violencehttp://www.tehelka.com/story_main53.asp?filename=Ne250812Politics.asphttp://www.indianexpress.com/news/how-to-share-assam/980438/0http://www.nytimes.com/2012/07/29/world/asia/after-tensions-in-indias-east-turn-deadly-claims-officials-turned-a-blind-eye.html?_r=1http://www.nytimes.com/2012/07/29/world/asia/after-tensions-in-indias-east-turn-deadly-claims-officials-turned-a-blind-eye.html?_r=1http://www.hindustantimes.com/India-news/Assam/What-lead-to-Assam-violence/Article1-895836.aspxhttp://www.dailypioneer.com/columnists/item/52143-demographic-change-and-assam-violence.htmlhttp://www.ndtv.com/article/cheat-sheet/assam-violence-a-blot-on-the-face-of-our-country-says-pm-announces-rs-300-cr-relief-top-10-developme-248509?pfrom=home-otherstorieshttp://www.ndtv.com/article/cheat-sheet/assam-violence-a-blot-on-the-face-of-our-country-says-pm-announces-rs-300-cr-relief-top-10-developme-248509?pfrom=home-otherstorieshttp://www.telegraphindia.com/1120803/jsp/opinion/story_15804467.jsp#.UC90Uania7shttp://newindianexpress.com/magazine/voices/article581501.ecehttp://en.wikipedia.org/wiki/Raghuram_Rajanhttp://en.wikipedia.org/wiki/Raghuram_Rajanhttp://www.chicagobooth.edu/faculty/bio.aspx?person_id=12825569280http://www.livemint.com/2012/08/13000052/Raghuram-Rajan--Right-guy-at.htmlhttp://www.economist.com/blogs/banyan/2012/08/financial-reform-india-0?zid=316&ah=2f6fb672faf113fdd3b11cd1b1bf8a77http://useconomy.about.com/od/Economists/p/Raghuram-Rajan.htmhttp://en.wikipedia.org/wiki/Aung_San_Suu_Kyihttp://www.britannica.com/EBchecked/topic/43227/Aung-San-Suu-Kyihttp://www.burmacampaign.org.uk/index.php/burma/about-burma/about-burma/a-biography-of-aung-san-suu-kyihttp://en.wikipedia.org/wiki/Insurance_in_Indiahttp://www.business-standard.com/india/news/non-life-insurance-sector-to-reach-rs-90000-cr-by-2015/449650/http://www.business-standard.com/india/news/non-life-insurance-sector-to-reach-rs-90000-cr-by-2015/449650/http://articles.economictimes.indiatimes.com/2012-06-27/news/32441345_1_insurance-sector-bharti-axa-life-insurance-promotershttp://articles.economictimes.indiatimes.com/2012-06-27/news/32441345_1_insurance-sector-bharti-axa-life-insurance-promotershttp://articles.economictimes.indiatimes.com/2011-04-10/news/29403390_1_life-insurance-managing-director-insurance-markets-premium-incomehttp://articles.economictimes.indiatimes.com/2011-04-10/news/29403390_1_life-insurance-managing-director-insurance-markets-premium-incomehttp://articles.economictimes.indiatimes.com/2011-04-10/news/29403390_1_life-insurance-managing-director-insurance-markets-premium-incomehttp://www.moneylife.in/article/8/21584.htmlhttp://www.moneylife.in/article/8/21584.htmlhttp://www.ibef.org/industry/insurance_industry.aspxhttp://www.ibef.org/industry/insurance_industry.aspxhttp://www.ey.com/GL/en/Industries/Financial-Services/Insurance/Global-insurance-outlook-for-2012---Overviewhttp://www.ey.com/GL/en/Industries/Financial-Services/Insurance/Global-insurance-outlook-for-2012---Overviewhttp://www.ey.com/Publication/vwLUAssets/Global_insurance_industry_outlook_for_012/$FILE/2012%20global%20insurance%20outlook_final.pdfhttp://www.ey.com/Publication/vwLUAssets/Global_insurance_industry_outlook_for_012/$FILE/2012%20global%20insurance%20outlook_final.pdfhttp://www.ey.com/Publication/vwLUAssets/Global_insurance_industry_outlook_for_012/$FILE/2012%20global%20insurance%20outlook_final.pdfhttp://www.irda.gov.in/ADMINCMS/cms/frmGeneral_NoYearList.aspx?DF=AR&mid=11.1http://www.irda.gov.in/ADMINCMS/cms/frmGeneral_NoYearList.aspx?DF=AR&mid=11.1http://www.towerswatson.com/india/newsletters/india-market-non-life-insurance/6903http://www.towerswatson.com/india/newsletters/india-market-non-life-insurance/6903http://www.towerswatson.com/india/newsletters/india-market-life-insurance/6836http://www.towerswatson.com/india/newsletters/india-market-life-insurance/6836http://ivgpartners.com/reports/Profile%20of%20Non%20Life%20Insurance%20Market%20in%20India.pdfhttp://ivgpartners.com/reports/Profile%20of%20Non%20Life%20Insurance%20Market%20in%20India.pdfhttp://www.irda.gov.in/ADMINCMS/cms/NormalData_Layout.aspx?page=PageNo4&mid=2http://www.irda.gov.in/ADMINCMS/cms/NormalData_Layout.aspx?page=PageNo4&mid=2http://economictimes.indiatimes.com/news/news-by-industry/cons-products/food/Coca-Cola-to-relaunch-RimZim-of-1980s/articleshow/15500097.cmshttp://economictimes.indiatimes.com/news/news-by-industry/cons-products/food/Coca-Cola-to-relaunch-RimZim-of-1980s/articleshow/15500097.cmshttp://articles.economictimes.indiatimes.com/2012-02-13/news/31055270_1_maaza-thums-limcahttp://articles.economictimes.indiatimes.com/2012-08-16/news/33233018_1_assocham-gaar-rules-rajkumar-dhoothttp://in.reuters.com/article/2012/08/17/dell-india-business-idINDEE87G09420120817http://articles.economictimes.indiatimes.com/2012-08-17/news/33249526_1_market-share-air-passenger-data-domestic-carriershttp://articles.economictimes.indiatimes.com/2012-08-17/news/33249526_1_market-share-air-passenger-data-domestic-carriershttp://www.hindustantimes.com/News-Feed/SectorsAviation/IndiGo-dethrones-Jet-Airways-as-India-s-No-1-airline/Article1-915217.aspxhttp://www.hindustantimes.com/News-Feed/SectorsAviation/IndiGo-dethrones-Jet-Airways-as-India-s-No-1-airline/Article1-915217.aspxhttp://articles.economictimes.indiatimes.com/2012-08-21/news/33303227_1_jet-airways-ceo-nikos-kardassis-indigohttp://www.business-standard.com/india/news/indigo-flies-past-jet-to-become-largest-airline/483595/http://articles.economictimes.indiatimes.com/2012-08-17/news/33249674_1_dvr-channels-record-programmeshttp://timesofindia.indiatimes.com/entertainment/tv/Internet-helps-TV-shows-gain-popularity/articleshow/15598141.cmshttp://timesofindia.indiatimes.com/entertainment/tv/Internet-helps-TV-shows-gain-popularity/articleshow/15598141.cmshttp://articles.economictimes.indiatimes.com/2012-08-18/news/33261595_1_kingfisher-airlines-karina-airlines-regional-airlinehttp://articles.economictimes.indiatimes.com/2012-08-18/news/33261595_1_kingfisher-airlines-karina-airlines-regional-airlinehttp://www.thehindubusinessline.com/industry-and-economy/logistics/article3762810.ecehttp://www.thehindubusinessline.com/industry-and-economy/logistics/article3762810.ecehttp://articles.economictimes.indiatimes.com/2012-08-18/news/33261595_1_kingfisher-airlines-karina-airlines-regional-airlinehttp://articles.economictimes.indiatimes.com/2012-08-18/news/33261595_1_kingfisher-airlines-karina-airlines-regional-airlinehttp://timesofindia.indiatimes.com/entertainment/tv/Internet-helps-TV-shows-gain-popularity/articleshow/15598141.cmshttp://timesofindia.indiatimes.com/entertainment/tv/Internet-helps-TV-shows-gain-popularity/articleshow/15598141.cmshttp://articles.economictimes.indiatimes.com/2012-08-17/news/33249674_1_dvr-channels-record-programmeshttp://www.business-standard.com/india/news/indigo-flies-past-jet-to-become-largest-airline/483595/http://articles.economictimes.indiatimes.com/2012-08-21/news/33303227_1_jet-airways-ceo-nikos-kardassis-indigohttp://www.hindustantimes.com/News-Feed/SectorsAviation/IndiGo-dethrones-Jet-Airways-as-India-s-No-1-airline/Article1-915217.aspxhttp://www.hindustantimes.com/News-Feed/SectorsAviation/IndiGo-dethrones-Jet-Airways-as-India-s-No-1-airline/Article1-915217.aspxhttp://articles.economictimes.indiatimes.com/2012-08-17/news/33249526_1_market-share-air-passenger-data-domestic-carriershttp://articles.economictimes.indiatimes.com/2012-08-17/news/33249526_1_market-share-air-passenger-data-domestic-carriershttp://in.reuters.com/article/2012/08/17/dell-india-business-idINDEE87G09420120817http://articles.economictimes.indiatimes.com/2012-08-16/news/33233018_1_assocham-gaar-rules-rajkumar-dhoothttp://articles.economictimes.indiatimes.com/2012-02-13/news/31055270_1_maaza-thums-limcahttp://economictimes.indiatimes.com/news/news-by-industry/cons-products/food/Coca-Cola-to-relaunch-RimZim-of-1980s/articleshow/15500097.cmshttp://economictimes.indiatimes.com/news/news-by-industry/cons-products/food/Coca-Cola-to-relaunch-RimZim-of-1980s/articleshow/15500097.cmshttp://www.irda.gov.in/ADMINCMS/cms/NormalData_Layout.aspx?page=PageNo4&mid=2http://ivgpartners.com/reports/Profile%20of%20Non%20Life%20Insurance%20Market%20in%20India.pdfhttp://www.towerswatson.com/india/newsletters/india-market-life-insurance/6836http://www.towerswatson.com/india/newsletters/india-market-non-life-insurance/6903http://www.irda.gov.in/ADMINCMS/cms/frmGeneral_NoYearList.aspx?DF=AR&mid=11.1http://www.ey.com/Publication/vwLUAssets/Global_insurance_industry_outlook_for_012/$FILE/2012%20global%20insurance%20outlook_final.pdfhttp://www.ey.com/Publication/vwLUAssets/Global_insurance_industry_outlook_for_012/$FILE/2012%20global%20insurance%20outlook_final.pdfhttp://www.ey.com/GL/en/Industries/Financial-Services/Insurance/Global-insurance-outlook-for-2012---Overviewhttp://www.ibef.org/industry/insurance_industry.aspxhttp://www.moneylife.in/article/8/21584.htmlhttp://articles.economictimes.indiatimes.com/2011-04-10/news/29403390_1_life-insurance-managing-director-insurance-markets-premium-incomehttp://articles.economictimes.indiatimes.com/2011-04-10/news/29403390_1_life-insurance-managing-director-insurance-markets-premium-incomehttp://articles.economictimes.indiatimes.com/2012-06-27/news/32441345_1_insurance-sector-bharti-axa-life-insurance-promotershttp://www.business-standard.com/india/news/non-life-insurance-sector-to-reach-rs-90000-cr-by-2015/449650/http://en.wikipedia.org/wiki/Insurance_in_Indiahttp://www.burmacampaign.org.uk/index.php/burma/about-burma/about-burma/a-biography-of-aung-san-suu-kyihttp://www.britannica.com/EBchecked/topic/43227/Aung-San-Suu-Kyihttp://en.wikipedia.org/wiki/Aung_San_Suu_Kyihttp://useconomy.about.com/od/Economists/p/Raghuram-Rajan.htmhttp://www.economist.com/blogs/banyan/2012/08/financial-reform-india-0?zid=316&ah=2f6fb672faf113fdd3b11cd1b1bf8a77http://www.livemint.com/2012/08/13000052/Raghuram-Rajan--Right-guy-at.htmlhttp://www.chicagobooth.edu/faculty/bio.aspx?person_id=12825569280http://en.wikipedia.org/wiki/Raghuram_Rajanhttp://newindianexpress.com/magazine/voices/article581501.ecehttp://www.telegraphindia.com/1120803/jsp/opinion/story_15804467.jsp#.UC90Uania7shttp://www.ndtv.com/article/cheat-sheet/assam-violence-a-blot-on-the-face-of-our-country-says-pm-announces-rs-300-cr-relief-top-10-developme-248509?pfrom=home-otherstorieshttp://www.ndtv.com/article/cheat-sheet/assam-violence-a-blot-on-the-face-of-our-country-says-pm-announces-rs-300-cr-relief-top-10-developme-248509?pfrom=home-otherstorieshttp://www.dailypioneer.com/columnists/item/52143-demographic-change-and-assam-violence.htmlhttp://www.hindustantimes.com/India-news/Assam/What-lead-to-Assam-violence/Article1-895836.aspxhttp://www.nytimes.com/2012/07/29/world/asia/after-tensions-in-indias-east-turn-deadly-claims-officials-turned-a-blind-eye.html?_r=1http://www.nytimes.com/2012/07/29/world/asia/after-tensions-in-indias-east-turn-deadly-claims-officials-turned-a-blind-eye.html?_r=1http://www.indianexpress.com/news/how-to-share-assam/980438/0http://www.tehelka.com/story_main53.asp?filename=Ne250812Politics.asphttp://en.wikipedia.org/wiki/2012_Assam_violencehttp://articles.timesofindia.indiatimes.com/2012-08-14/guwahati/33200251_1_assam-accord-samujjal-bhattacharya-aasuhttp://www.tradingeconomics.com/india/exports

7/29/2019 xedxed

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6) Essar Oil to refine cheaper but heavier-dirtier crude oil to increase profitsET/ The Hindu Business Linehttp://www.thehindubusinessline.com/companies/article3780892.ecehttp://economictimes.indiatimes.com/news/news-by-industry/energy/oil-gas/essar-oil-steps-up-heavy-crude-processing/articleshow/15494759.cmshttp://en.wikipedia.org/wiki/Heavy_crude_oil7) Government makes stricter norms on standard packaging of goods - MoneyLife/BS/TOIhttp://www.business-standard.com/generalnews/news/new-standard-packaging-norms-for-fmcg-cosnov-govt/46491/http://timesofindia.indiatimes.com/business/india-business/Companies-cut-pack-weight-to-avoid-price-hikes/articleshow/15510290.cmshttp://www.moneylife.in/article/new-standard-packaging-norms-for-fmcg-companies-from-november/27931.html

8) Goldman Sachs projects bright future for Reliance Industries The Hindu Business Line/EThttp://articles.economictimes.indiatimes.com/2012-08-17/news/33234254_1_goldman-sachs-reliance-industries-reliance-shareshttp://www.thehindubusinessline.com/companies/article3779928.ece 9) BJPs latest reason to stall parliament: CAG reports TOI/ The Hindu Business Line

http://www.thehindubusinessline.com/opinion/article3799589.ece?homepage=true

http://articles.timesofindia.indiatimes.com/2012-08-18/india/33260908_1_coal-blocks-coal-ministry-final-report

http://articles.timesofindia.indiatimes.com/2012-08-17/india/33248682_1_coal-blocks-cag-reports-coal-ministry/2

http://blogs.timesofindia.indiatimes.com/Swaminomics/entry/end-discretionary-allocations-in-coal-and-everything-else

10) PSBs slip in asset quality; FinMin orders them to phase out unsecured short term loans -Moneycontrol/TOI

http://www.moneycontrol.com/news/business/phase-out-unsecured-short-term-loans-finmin-to-psu-banks_747555.html

http://timesofindia.indiatimes.com/business/india-business/Top-PSU-banks-NPAs-rise-over-60-on-year-private-banks-report-marginal-rise/articleshow/15575808.cms 11) India to restructure $35 bn debt held by its power utilities Bloomberg/DNA/Liveminthttp://www.dnaindia.com/money/report_pfc-offers-rs17330-cr-cash-line-to-discoms_1725677

http://www.livemint.com/2012/08/21182611/As-blackouts-boost-outlook-NT.html?atype=tphttp://www.businessweek.com/news/2012-08-21/india-considers-35-billion-debt-revamp-after-biggest-blackout 12) India and Russia close to sign biggest-ever defence deal worth $ 35 billion- ET

http://economictimes.indiatimes.com/news/politics/nation/india-gears-up-to-order-22-apache-helicopters-for-1-4-

bn/articleshow/15581861.cms

http://economictimes.indiatimes.com/news/politics/nation/india-and-russia-going-to-sign-biggest-ever-defence-deal-

worth-35-billion/articleshow/15552339.cms13) Assange to US: Stop Witch Hunt against Wikileaks- NYT/ Reutershttp://www.reuters.com/article/2012/08/22/us-wikileaks-assange-usa-idUSBRE87L12W20120822

http://www.nytimes.com/2012/08/20/world/europe/assange-casts-himself-as-persecuted-whistle-blower.html?_r=114) Nestle chief demands end of businesses using food for biofuel production- Reuters/ The Guardianhttp://www.guardian.co.uk/environment/2012/aug/19/biofuel-fails-eu-sustainabilty-test?INTCMP=ILCNETTXT3487

http://www.reuters.com/article/2012/08/19/nestle-idUSL6E8JJ2MN2012081915) This time Independence Day was bigger than Diwali for Supermarkets in India- ET/TOI

http://articles.economictimes.indiatimes.com/2012-08-17/news/33249707_1_retail-chains-indian-retail-sector-rakesh-

biyani

http://timesofindia.indiatimes.com/business/india-business/Electronics-retailers-clear-inventory-after-Independence-

Day-boom/articleshow/15583872.cms

Marketing News sources:

http://timesofindia.indiatimes.com/business/india-business/Companies-cut-pack-weight-to-avoid-price-

hikes/articleshow/15510290.cmshttp://www.thehindubusinessline.com/industry-and-economy/marketing/article3775771.ece

http://m.economictimes.com/news/news-by-industry/cons-products/fmcg/brand-extension-axe-struts-into-the-mens-

soap-space/articleshow/15524332.cms

http://www.business-standard.com/india/news/makeover-at-big-bazaar/483456/

http://business-standard.com/india/news/govt-set-to-notify-51-multi-brand-retail-fdi-in-sept/483756/

http://www.business-standard.com/india/news/fresh-%5Caer%5C-in-air-care-market/483708/

http://articles.economictimes.indiatimes.com/2012-08-19/news/33272931_1_user-mark-userbase-platforms

http://timesofindia.indiatimes.com/business/india-business/FMCG-companies-bank-on-speed-to-

win/articleshow/15579388.cms

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