Can you identify these industries?
Some of them are booming, some are struggling and others are yet to take off. See if you can identify these industries in India based on the clues provided below.
In terms of numbers this industry in India is the biggest in the world. Until the late 1990s, it was not even recognised as an industry. Even though it has since been recognised as an industry, banks and other financial institutions continue to avoid the industry due to the enormous risks involved in the business.
Leading companies in this industry spend approximately 10% of its revenue on research and development. India’s share in the global market is less than 2% in value terms as the product prices in India are one of the lowest in the world.
In Indian company took over an Anglo Dutch company to become the 5th largest group company in this industry. Incidentally this is the largest Indian takeover of a foreign company.
Being in its nascent stage, this highly labour intensive industry in India has not been very stable. While the primary work coming to India is through outsourcing work related to films, ads and gaming, the industry is now slowly moving up to the next level of maturity.
India has the fastest growing market in this industry. A global player viz., a British company bought stake in India's fourth largest firm in this industry. Regulatory changes and reforms in the last 10 years have tremendously helped this industry. The rapid strides made by India in harnessing the off shoring opportunity would not have been possible without developments in this industry.
This industry has grown at breakneck speed due to entry of low cost players. But almost all players are making losses. Due to intense competition and declining margins, a process of consolidation has commenced through mergers and acquisitions. This will bring about synergies in operations and optimal utilization of resources in this capital intensive sector.
Film - Though India’s overall entertainment industry is becoming professional with the rise of TV production companies, India's movie industry per se remains highly informal, personality oriented and family dominated.
Pharma - Overall drugs manufacturing in India is up to 50% cheaper than in western industrial countries.
Steel - Corus was taken over by Tata Steel. Before the takeover Tata Steel was only the world's 56th biggest steel producer and its takeover of Corus represented its first expansion outside Asia.
Animation - India has the potential to be recognized as an animation hub, if education facilities, availability of funds and infrastructure improve. Developing original content that appeal to audiences in America, UK, and Europe will also contribute to its growth.
Telecom - British mobile telecom major Vodafone bought stake in India's fourth largest mobile firm Hutch-Essar.
Airline - Mergers include that of Kingfisher and Air Deccan, Jet Airways and Air Sahara, Air India and Indian Airlines. India has the fastest growing number of passengers in the world. Industry optimists feel that this growth will take care of its current problems.