Post on 13-May-2023
Uty of Washington, Web- drjustinpaul.com
Author of 7 books Bus Environment, Inter Business, EXIM Mgmt etc
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Globalization has become a an irreversible process. It’s no longer a myth.
“Students in China and India are hungry”- Obama
“Hard working students/people I have ever seen are in ----”- Justin Paul (6 days work)
American Students like 4 Ps- Party, Part Time Job, Paycheck and Power. Indian students like P – What’s that P ? –
3 E s explain the growth in Indian economy- Engineering, English and Education
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Globalization has brought down import tariff levels and created an open economy.
Foreign Investment has increased.
Go Global, Grow Global: Strategy of the Day and Need of the Hour.
Largest Democracy with 100 + political parties & 28 Independent, Autonomous States
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China- Fastest Growing and India Second Fastest growing Economy
No Payment Restrictions on Importers
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Globalization leads to success ? !!!
◦ Example: Indian Software companies get over 70% revenue from foreign markets.
◦ Global Outsourcing (Business Process Outsourcing & Knowledge Process Outsourcing)
◦ Video title - World sees India as rising global and regional super power (facebook.com/drjustinpaul )
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Traditional export items. Lower prices cause farmers’ revenues to shrink.
The Foreign Trade Policy put an emphasis on export of agricultural products.
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Traditional export items. LOT OF POTENTIAL, as the developed countries do not have self sufficiency.
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• Most Asian countries import dependent.
The Indian government has emphasized oil exploration by offering tax holidays, to reduce import dependence.
.
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Reductions in average tariff rates
Removal of import licensing
Liberalization of foreign investment policies.
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1. Telecom Sector2. Insurance Sector3. Banking and Financial
Sector4. Retail Sector5. Automobile Sector6. Textiles Sector
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TELECOM – Foreign service providers are allowed to operate in this sector.
INSURANCE – Several multinational insurance companies have established equity joint ventures.
RETAIL SECTOR – FDI allowed in this sector, subject to joint venture (terms applicable).
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Immense possibilities for FDI.
100% foreign equity permissible with approval. HOTELS etc.
Automatic approval for foreign equity up to 51%.
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Approx 1.21B (2011), 1.02 billion (2001) people.
Religion: Hindu 80.5%, Muslim 13.4%, Christian 2.3%, Sikh 1.8%, Buddhists 0.8%, Jains 0.4%, others 0.7%
Christians are mainly from 2 South West States- Kerala & Goa. Sikh- from Punjab Names are linked to religion & region. Looking at Last Names, U can guess from which state they hail from (Banerjee from Bengal, Gupta from North India etc).
28 States – Divided primarily based on local languages such as Hindi (First language in 7 states), Bengla, Tamil, Malayalam, Kannada, Telugu, Punjabi, Gujarati, Oriya, Marati, Kongini). Division of States based on languages
Mumbai (Bombay): Financial capital, Bangalore: IT city, New Delhi: Administrative Capital , Chennai- Auto Capital
Calcutta, Hyderabad, Pune, Cochin (Kochi), and Ahmedabad are other important cities with international airports
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INDIA- UNITY IN DIVERSITY (English as Common Language). Can be called as United States of India
Many Indians are bi or tri-lingual as job interviews are conducted in English
KERALA- MOST DEVELOPED STATE (UNDP): Only state with 100% literacy.. A destination for marketing.
MAHARASHTRA, GUJARAT AND TAMIL NADU attracts factories
North Indian States BIHAR, MP, RAJASTAN & UP - POOR STATES
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State Governments are powerful and independent with Cabinet ministers and chief minister. (including FDI in retail sector).
Sales Tax on some items varies from state to state (example, Beer , whisky etc).
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100K + MBA and 350K engineering graduates from Indian Universities every year, taught in English.
In the US, the largest number of foreign students are from China & India.
Thousands of English medium elementary schools. IITs & IIMs are premier schools
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ROLE PLAY1.1950-1991 - Namaste (I want to keep distance from you)
2.1991-1995 - Shake Hand (I like to do business with you)
3. Post 1995 - Lady hugging foreigner (I love you)
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1. Tax a. Many Business people
evade taxesb. 200 million poor people
out of 1.21 B people
2. Drinking Watera. Demand for clean water:
big market for mineral water (Pepsi , Coke etc into mineral water business in India)
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The Other Side of OUTSOURCING – 8 MINUTE Video
(Watch these on Facebook.com/drjustinpaul )
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Skype - drjustinpaul
Facebook Author Page to follow me - facebook.com/drjustinpaul (If you click LIKE)
Facebook Friend Page – facebook.com/profjust (to subscribe or to send friend request) &Linkedin.com/in/profjust
E-mail: profjust@uw.edu, profjust@gmail.com
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1. China – Introductory Video from Discovery
(3 E s – Exports, Engineering, Excellent Industrial sector)
2. China Rising- What It Means to the World.
(all available on Facebook.com/drjustinpaul )
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For Companies- Organic and Inorganic Growth (to eat or to be eaten (Do or Die)
For Individuals, S = f (HW, NW) S = f (W, L )
Use linkedin.com etc to build network for you, alongwith your hard work.
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