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Vol.3
Issue 03
March 2016
100
$2
SPECIAL FEATURES
‘Cumin’ology: Science of exports Syria’s and Turkey’s losses imply India’s gains in exports of cumin
When business meets art
Hand-made paintings can yield rich dividends for its importers
Niryat Bandhu Scheme
Is the scheme meeting expectations of India’s foreign trade community?
Rendezvous
An exclusive conversation with Narendra Singh Tomar, Union Minister of Steel & Mines, GoI
FOREIGN TRADE . EXPORTS . IMPORTS
THE DOLLAR BUSINESS SPEAKS TO 40 REMARKABLE LEADING LADIES OF INDIA’S FOREIGN TRADE ON THEIR STRUGGLES, SECRETS, SUPPORT SYSTEMS AND SUCCESS STRATEGIES. PRESENTING A FIRST-TIME EXCLUSIVE COVERAGE
INTERVIEWS INSIDE: HARSIMRAT KAUR BADAL, CABINET MINISTER, FOOD PROCESSING INDUSTRY, GoI I RASHMI VERMA, SECRETARY, MINISTRY OF TEXTILES, GoI I KAVITA GUPTA, TEXTILE COMMISSIONER, GoI I SHOBANA KAMINENI, VICE-CHAIRPERSON, APOLLO HOSPITALS I MONICA OSWAL, DIRECTOR, MONTE CARLO I JAYANTI CHAUHAN, DIRECTOR, BISLERI I ANITA SANGHI, GLOBAL CFO & DIRECTOR, DELL SERVICES I MEHER PUDUMJEE, CHAIRPERSON, THERMAX I MANMEET VOHRA, DIRECTOR–MARKETING, TATA STARBUCKS I RAJNI BECTOR, FOUNDER, MRS. BECTOR’S FOOD I HUZAN MISTRY, CHIEF–BD (CURRENCY & DEBT MKTS.), NSE I CHAYAA NANJAPPA, FOUNDER, NECTOR FRESH I DEVITA SARAF, CEO, VU TECHNOLOGIES, AND MANY MORE...
...and more!
Volume: 3 Issue: 03 March 2016 www.thedollarbusiness.com facebook.com/tdbIndia twitter.com/TheDollarBiz in.linkedin.com/in/thedollarbusiness/ President (VMPL) & Editor-in-Chief EDITORIAL & RESEARCH Editor Executive Editor Senior Editor Senior Editor (Online) Senior Assistant Editors Assistant Editor Assistant Editor (Online) Principal Correspondent Correspondents
: Steven Philip Warner
: Manish K. Pandey : Indranil Das : Satyapal Menon : Himanshu Vatsa : Sisir Kumar Pradhan, Shivani (Vig) Kapoor : Neha Dewan, Ahmad Shariq Khan : D. Sai Nikesh : Vanita Peter D'souza : Deepak Kumar, Aadhira Anandh M. Jasleen Kaur, Manisha Choudhari
34 COVER STORY
EDITORIAL CONSULTING BOARD Founder & Editor : Anil Goyal Publisher : Avnish Goyal Chief Consulting Editor : Dr. A. K. Sengupta Editorial Advisors : Dr. N.K. Goyal (CMAI), Atul Kumar Saxena (IIA)
: Justin Yoon (+82-2-6241-4256) : S. Puri (+44 207 376 1996)
ART & PHOTOGRAPHY Art Director Senior Designer Designer Photographer
: Sujesh Kumar G. : Shaik. Masthan Vali : Gopal Ganesh Reddy : Dileep Kumar
HR, FINANCE & LOGISTICS Sr. Manager – HR Manager – Accounts Asstt. Manager Sr. Executives Associate
: Rasanpreet Kaur : Parchuri Jhansi : Helen Mary : Swati Sharma, Ganesh Alagonda : Inderkant Padampalle
PRINTER Kala Jyothi Process Pvt. Ltd., 1-1-60/5, RTC Cross Road, Musheerabad, Hyderabad, Telangana 500020, IN
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GLOBAL TRADE
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INDIA TRADE
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SPOTLIGHT
26 The Dollar Business celebrates the achievements of Indian women who are transforming the world of foreign trade. For them the sky is no limit, it’s just a direction. Read through the stories.
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Printed at: Kala Jyothi Process Pvt. Ltd., 1-1-60/5, RTC Cross Roads, Musheerabad, Hyderabad - 500 020, Telangana. FOR EDITORIAL/CONTENT Email: editorial@thedollarbusiness.com
China’s connection to Iran, US leaving a sour taste in Morocco’s mouth, and more...
Rupee depreciation, exporting metro coaches to Australia, Saudi lifting ban on chilly & much more
MEXICO
OVERSEAS TALK
MELBA PRÍA, MEXICO’S AMBASSADOR TO INDIA Talks about why trade comes naturally to Mexico and suggests ways to further boost the Indo-Mexican bilateral trade.
IMPORT’ONOMICS PAINTINGS
They don’t just add feeling of grandeur to a room, but also fill up pockets of their importers
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SECRET INGREDIENT CUMIN
With India as its biggest exporter, this spice promises healthy profits!
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DOCKYARD
KANNUR AIRPORT
Kerala is getting its 4th international airport. But does it really need one?
PUBLISHED AT 5-2-198/4, Distillery Road, Ranigunj, Secunderabad, Telangana 500003, IN
© Copyright 2014 No part of this magazine may be reproduced in whole or in part without an expressed permission of the publisher. The information on this magazine is for information purpose only. Manish K. Pandey, Editor, The Dollar Business, is responsible for the selection of news and content under PRB Act. Vimbri Media Pvt. Ltd. assumes no liability or responsibility for any inaccurate, delayed or incomplete information, or for any actions taken in reliance thereon. The information contained about each individual, event or organisation has been provided by such individual, event organisers or organisation without verification by us. All disputes are subject to exclusive jurisdiction of competent courts and forums in Hyderabad, Telangana. Printed and published by Avnish Goyal for Vimbri Media Pvt. Ltd. Published at 5-2-198/4, Distillery Road, Ranigunj, Secunderabad - 500 003, Telangana.
PEOPLE SPEAK
From Narendra Modi’s vision for the economy to Hassan Rouhani’s path towards economic revival
NARENDRA SINGH TOMAR
UNION MINISTER OF STEEL & MINES, GOVT. OF INDIA TDB caught up with the Minister to figure out how he plans to bring the beleaguered sector back on track.
MONOLOGUE
A snapshot of Mexico’s international trade activities
ADVERTISEMENT SALES & MARKETING Vice-President : Aninda Mondal Associate Vice-President : Dharmendra Jaiswal Manager : Kamlesh Tripathi, Santosh Pandey, Bhaskar Joshi, Pramveer Singh Executive : Maleeha Mushtaq International Representatives Seoul (South Korea) London (UK)
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POLICY FOCUS NIRYAT BANDHU
This hand-holding scheme for new and potential exporters still has a long way to go
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TDB FORUM
Questions about foreign trade that hit our mail box in February and, of course, their answers
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8 THE DOLLAR BUSINESS II MARCH 2016
MARCH 2016 II THE DOLLAR BUSINESS 9
COVER STORY
POWER WOMEN
Over the years women have increasingly grabbed headlines for their roles in business, politics and society. And India's foreign trade is no exception – a number of women are making significant contributions to this vital sector. While some are renowned names in business and policymaking, others we believe will soon be equally well-known. The Dollar Business celebrates the success of these iconic women. For them the sky is no limit, it’s just a direction!
34 THE DOLLAR BUSINESS II MARCH 2016
T
hat women are important economic actors has long been settled. In India and across the globe, the liberalisation of trade has had a significant effect on the number of women in the workforce across manufacturing and services sectors. As participation of women in the workforce increased, so did their presence in decision-making roles. Today we have Christine Lagarde heading the IMF, Janet Yellen at the helm of the Federal Reserve, and Angela Merkel spearheading Europe's economic revival. And there is many-a-study to show that businesses that have women at the helm perform better, financially and otherwise. Naturally India, a country that from its inception has had strong women influence in politics, society and the economy also has exceptional women leaders in foreign trade; from services to pharmaceuticals and textiles to engineering products, we have seen a significant number of women rise to the top and make valuable contributions. And this is not confined to business, women are present in large numbers as the heads of ministries and spearheading policymaking bodies that play a large role in easing the way for foreign trade in India. In an increasingly gloomy global economy, when the world is looking at India to give a fillip to global trade, there is possibly no better a time to applaud a handful of extraordinary women entrepreneurs and visionaries in India's foreign trade arena. The Dollar Business over the past quarter, met with and gained insights from women leaders from across sectors. Some lead industry behemoths, some are at the top of their chosen area of business, and some lead from the front as law and policymakers in their quest to help unfold the potential of Indian foreign trade. And without an exception these are women of courage, resilience and astute business sense, each with a strong head on her shoulder, who is acutely aware of her responsibility to business and society. They are all shining stars of Indian foreign trade. Flip through and watch their stories unfold... MARCH 2016 II THE DOLLAR BUSINESS 35
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