Modi: Business and Trade

Since the time he was elected, the premier and his team are making a sincere effort to bring about a paradigm shift as to how India conducts business. The decadent era  of absolute stillness well almost needs a magnanimous effort in the right direction if the country has to move in tandem with the developed World.  

No easy task this, the first signal of intent was brought to notice whence the government decided to bring around a change in the stagnating labor laws. These laws have not seen the daylight since the days of the Raj. Albeit heavily in favor of the work force they did not provide even an iota of encouragement to the business fraternity.         

It is not easy to go about rectifying stagnancy in the governance but nevertheless the Damocles sword that hanged over business practice in India hindered growth out of  draconian penal fear and uncertainty.  However much the developed World pressurizes for level playing field, keeping the ground situation is mind the turn about should come in a reasonable time...after all pros and cons have been taken into consideration.

The emergence of a right lobby is looming over the head and challenging secular and liberal promises made in our constitution. This is detrimental to our image abroad. Investors not only keep business propositions in mind but also the atmosphere prevailing in the country. Hence the direction the Nation is moving towards is of utmost importance for those willing to invest large sum of money and secure the future of their enterprise.      

Most of the policies and systems are based with heavy flavors of socialism shaped during the cold war. The CEO fraternity belonging to major corporate views with much reservation the opening up of India. This was evident in the recent visit of the Prime Minister and subsequent meetings with them in USA.

The red tape, bureaucratic arrogance and lethargy, inherent corruption, inexplicable delays and abeyance of futuristic imperatives  have discouraged direct foreign investment in the country. This is further acerbated by frequent strikes, irrational political opposition and the skewered attitude prevailing in the arena towards  governance.          

No party is unaffected by the populist measures required to please various aspects that keep a party in power. To really stem the rot the Government has to look askance and take step amenable to conduct business in India .     

Albeit labor welfare cannot be neglected, but at least the atmosphere should create a malleable ambiance. This is imperative for a fast growing economy if it has to stay that way. I hope the present Government at least does away with the paralysis that historically evolved since independence...without pointing a finger at any element.    

Insurance is a risk management strategy

A business always fears uncertainty or uncertain risk factors that constantly loom over head.  Hence all business resorts to insuring whatever aspect that can be insured. In order insure the company charges a premium which is the charge paid by the policy holder.  The insurer compensates the policy holder as its service and binding.

The risk cover guarantee is prefixed and the cover is granted based on terms and condition set by the insurer.  The business has positive impact on people and industry by covering their risk in order to prevent a financial catastrophe.

The basic risk cover is against accident, fire, theft, fraud. Then there are special types of insurance applicable to big business and major institutions. The terms and conditions differ depending upon the type of insurance.

All over the World insurance business is booming both in public sector and private sector.  Hence marketing and publicity has become a major strategy for these companies. 

Health insurance is also a major sector providing health expense cover for major surgical treatments and hospitalization charges. Small accident benefits are also covered.  Life insurance is the biggest service sector in risk management. The benefit accrues to the policy holder’s family in case untimely demise.

There are specific guarantees as well as comprehensive risk cover guarantee in case of latter the premium applicable is more.

Economic revival of India

India has gone a long way since independence in economy and business. Not only this the country has advanced on all spheres. It is today assumed to be an economic giant a future leader perhaps. 

Just after the independence the country followed socialist, protectionist policies that encouraged public sector but not the private sector. Heavy taxation was a bane of all progress and it encouraged tax evasion hence black money. 

In recent time there has been as lot of reforms which has brought about a dynamic U turn in the economy. With corrective policies and reforms the industrial sector achieved phenomenal growth. Subsequently exports gained a big boost. The low cost manufacturing and affordable service sector made the country attractive for foreign direct investors. The manufacturing sector has gained a lot and is in position to challenge China.   

The country has vast man power which id skilled and semi skilled and understands or speak English. The resultant benefits are obvious and the Nation is engaged in enhancing this factor. Education in India is a priority and will change the country's profile and image abroad. The Indian management cadre, white and blue collar workers and cheap labor contribute to the economy most prolifically. 

The burgeoning technological, research and management institutes are the country's futuristic strength. Indian professional will pay an active role in global economy in time to come.