Posts Tagged ‘Indian translation’
METRO India
Cast your mind back to September 2008 (most people don’t want too) and the World almost came to an end. Lots of grey suited, boring faces on TV telling us all to chill and they will save the World from financial meltdown.
OK so no ‘turning off the lights’ actually happened but what followed has, quite frankly, been horrible for many, many people. Having got my daily fix of on-line news, one article on the BBC web site really caught my attention by Stephanie Flaunders about India: http://bit.ly/cvusHv.
Whilst the article dips its toe into a few related areas, the striking stat for me was that for one quarter only, India’s economy went backwards, with a contraction in that quarter of just 0.2%.
Compare this to the UK economy and things read very differently. It appears the reason for the success in India was the closed financial system. What, wow, really?! Tell me something I don’t know, Darren!
Well its not that bit that got me wanting to write, it was my next on-line fix that did it for me. That was via Reuters http://bit.ly/c6PaFo and the news that Metro Bank had opened in Holborn, London near a financial district based largely on a business model established 35 or so years ago. Its goal was to grab 10% of the London banking market (pretty impressive stuff and one hell of an achievement when successful).
Here’s the bit which got me:
India succeeds on an almost unique financial model which some questioned pre-crisis, and now, post-crisis, the fans are out. We have a new bank (the first for 100 years or so) with a very domestic feel and business plan about it and high goals – is it possible the past is helping us find our way out of the near meltdown? Does that sound profound?? It wasn’t meant to be.
But in this age of globalisation and internationalisation, are we sharing common experiences and learning from each other through lessons from the past that have stood the test of time?
As always, mine is just a take. I run a translation agency not the financial services sector.
By Darren Elliott
Posted in Business | 
Tags: banking, BRICS countries, business, economices, financial, india growth, indian economy, Indian translation, international markets, localisation, money, Reuters, world trade | 
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NEXT 11
Read a brilliant article by Hugo Duncan, economics analyst for the Evening Standard where he comments on Sir Martin Sorrell (of WPP fame) and the likening to the premiership and football league structures to the western economies.
Whilst not exactly a new way of making a point, it does focus the mind and when you think of the likes of Leeds United. Leeds were reigning high a few years ago and playing Champions League, before then overspending. They slid down the divisions and got stuck in League 1 (Division 3) before making their way back to the Championship; still some way off the promised land which they once shared with Manchester United, Chelsea etc. It made me stop and think anyway being a huge football fan.
The point here is not Leeds United or even how quickly you can slide down the table, its more the up and coming, which challenge the old and welcome the new.
The next 11 (to keep the footie theme going), following the rise of (BRICs) Brazil, Russia, India and China include: Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, South Korea, Turkey and Vietnam. The point is, 10/15 years ago – did you see them making the starting line up? And will the former XI be on the bench or just in the reserves or out on loan all season to gain ‘experience’?
Read the article and draw your own conclusions but for businesses looking to expand into these markets, time waits for no man (or at least that’s the song title). Here’s the link: http://bit.ly/c1W0wC
By Darren Elliott
