Sunday, April 26, 2009

Chindia

"The term Chindia, supposedly coined by the Indian Union Government Minister, Jairam Ramesh, is now the toast of the world. In early 2008, more than ten books were released all singing paeans to the new economies of India and China. And multinational companies are today talking of the strategic importance of India and China in their global plans. For some companies, the Indian operations are already in the top 10 or top 5 operations in the world; for others, they rank among the fastest growing markets, set to attain place among the top 5 in the not-so-distant future. In 2009, when many countries in the developed world face negative GDP growth, experts feel that Chindia will continue to show GDP growths in excess of 5-6%. Some economists even believe that the world economy needs Chindia to pull it out of the downward spiral!"
(M. G. Parameswaran in 'Ride the Change: A perspective on the changing Indian consumer, market and marketing,' p. xv TMH)

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