GLOBAL INDIA BUSINESS FORUM PRESENTS
THE BUSINESS TYCOONS
ACTIONS DELIVER RESULTS
AUGUST 2019
BUSINESS OPPORTUNITIES IN NETHERLANDS ECUADOR
VIBRANT GOA
SUCCESS STORY Kaustubh Phadtare
ROBOTRONIX
SECTOR REVIEW
COSMETICS HEALTHCARE
Managing Director KAVITSU ROBOTRONIX
"Everyone has the KEY, its just a matter of using it right”
THE BUSINESS TYCOONS
E- Magazine
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Aug - Sep 2019 About GIBF International Business Associations Memorandum Of Understandings of GIBF Kaustubh Phadtare - Managing Director of Kavitsu Robotronix Top Mergers & Acquisitions Sector Review - Cosmetics Netherlands - Infocus Economic Bilateral Agreements & MOU’s Sector Review - Health Care Ecuador - Infocus Upcoming Trade fairs Why Join GIBF
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37 Tie-ups with different Embassies/ Consul General No part of this publication may be reproduced by any means without prior permission from Editor. GIBF Magazine is not responsible for statements made or for opinions expressed in the articles published in this volume and Publisher accepts no responsibility for accuracy of information, errors or omissions and rejects any claims arising out of any actions which the company or individual make on the basis of information contained herein. All rights reserved. Title is protected through a Copyright registered with India Patent & India Copyright Act 1957. GIBF Associates Private Limited. Copyright © 2019
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President’s Message We strongly believe in diplomatic clearance as a path to successful convergence in manifold ways. Now, we have to see what lies before us in the form of business connectivity worldwide. GIBF can be such a bridge for your connectivity with other business icons, tycoons and leaders across the globe. The mission of GIBF is to help members increase their business through a structured, positive and professional referral marketing program that enables them to develop long-term, meaningful relationships with quality business professionals. In addition to that, a GIBF Awards (divided into 3 categories: State, National & International) is an important and glorious achievement in a GIBF Members' Career. These awards celebrate the ingenuity and innovativeness of our members' business vision, mission, and values. These awards speak volumes as they are recognized worldwide. The selection panel for the GIBF Award Ceremonies is of highly esteemed members of the business community. The panelists are passionate about selecting the best of the best winners in each category. By joining GIBF, you'll increase your exposure to like-minded professionals, gain referrals from a global network and sharpen your business networking with exclusive resources. We are always open to adding new members to the GIBF family and hope for you to even join us and welcome you onboard onto this exciting journey of business networking.
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About GIBF India is a fast growing country and an emerging Super Power. With Indian Government's drive for “Make in India" and “Skill Development”, there are ample opportunities for both Indian and Global companies to run start-ups and make exponential growth in all business sectors. In such a dynamic and vibrant business scenario, to promote synergy, a need for the formation of a common platform was felt. The idea was perceived and progressed further by Dr. Jitendra Joshi, a successful businessman and visionary who has over a 25+ glorious years of experience, in Manufacturing and Service Industries at Senior Level Management in numerous MNCs.
To fulfil this need and to bring together business professionals from various segments like Automobile, Engineering, FMCG, Chemical, Pharmaceuticals, Electronics, Heavy Metal, Service Industry etc, Global India Business Forum (GIBF) was created. GIBF will consist of members from all fields of business, industry, academics and other professions without any segment boundaries. GIBF has its head office in Delhi, Corporate Office in Pune, India and Global offices in Dubai, USA, UK, Singapore and China. It also has at presence Mumbai, Chennai, Ahmedabad, Kolkata & in all other metro-cities of India.
VISION
MISSION
VALUES
Creating and building a World Business Community for the prosperity of businesses globaly.
To provide a common platform for businesses and entrepreneurs to share their ideas & experiences for entrepreneurial development.
We value holistic growth, humanistic diversity and are committed to professionalism, excellence, community involvement, accountability and timely progress with ethical values.
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INTERNATIONAL BUSINESS ASSOCIATIONS
CANADA Global India Business Forum is proud to be associated with the Canada Embassy. With this association, Canada Embassy and Global India Business Forum have agreed to work together to promote business and trade opportunities between India and Canada. The Canada Consulate in Mumbai, India has always facilitated trade relations with India. GIBF president Dr. Jitendra Joshi and his team met with MR. Kishor Mundargi (Trade Commissioner, Consulate General of Canada) at Canada consulate Mumbai.
GEORGIA Global India Business Forum is proud to be associated with the Georgia Embassy. With this association, Georgia Embassy and Global India Business Forum have agreed to work together to promote business and trade opportunities between India and George. The George Consulate in Mumbai, India has always facilitated trade relations with India.
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MEMORANDUM OF UNDERSTANDING OF GIBF 1-Brahman Business Network (BBN)Global India Business Forum has signed MOU with Brahman Business Network Pune to expand areas of cooperation and to act as a model framework and assist in facilitating - enhancing mutual activities in line with shared objectives. Brahman Business Network (BBN) is a business network. It’s aim is to enhance business interest among Brahmins all over the world & uplift Brahmins community. Our goal is to give business and get business. Treat that all the members of this are your extended arms. They can be your Sales Partners. So don't hesitate to share your Success Stories, Achievement and Business Development. The BBN will have Apex body & Advisory committee (BBN Core) who will appoint President, C.E.O. other required operational staff & expert panel to run this business Model.
2-Belgaum Chamber of Commerce and Industries Global India Business Forum has signed MOU with Belgaum Chamber of Commerce & Industries as a link of friendship, recognizing the mutual interest and benefits of strengthening cooperation, taking into consideration the objectives of both to promote and support combined efforts towards the development of multilateral regional cooperation. Belgaum has a strategic location. It is situated near the borders of Goa and Maharashtra states. Two major highways pass through Belgaum giving access to north-south and east-west directions. Belgaum airport is one of the oldest in the country. The city and its surrounding area enjoy an ideal climatic condition. There are a large number of educational institutions with Vishweshariah Technological University, Belgaum is a prime education centre in India. The revenue divisional office Controlling 7 districts of Northern Karnataka state is also located in Belgaum.
3-Kolhapur Chamber of Commerce and Industries Realizing strengths of Global India Business Forum and Kolhapur Chamber of Commerce and Industries and to gain the benefits by both organizations and their members through this mutual understanding, both parties willingly agreed to sign this Memorandum of Understanding (MOU) to cooperate with each other in facilitating mutual investment, trade and economic cooperation complimented by knowledge sharing, training, certification and networking. Federal body of Trade, Commerce, Industry, Banking, Service Industry and Transport established on 17th May 1983 by visionary industrialist Late Shri. Shivajirao Desai. Inaugurated by Giant National Leader from Maharashtra The then Chief Minister Of Maharashtra Hon'ble Shankarrao Chavan. Under dynamic & visionary leadership of Shri. Shivajirao Desai, Chamber has established very good organizational setup in Trade & Industry Sector. Chamber has supported various Traders to set up their Associations and helped them to organize for betterment and development.
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SUCCESS STORIES KAUSTUBH PHADTARE Kavitsu Robotronix
Mr. Kaustubh Phadtare, Managing Director of Kavitsu Robotronix has had an intresting and inspiring business trajectory. Since he was a child, he saw his father work with machines. Big machines and cars always fascinated him. He was always intrigued on how they worked. As he grew older, the dream to work with these became his passion. He pursued Engineering in Instrumentation and Control and completed his B.Tech from Vishwakarma Institute of Technology, which is one of the finest colleges in Pune. Further he went ahead and did his Masters in Robotics from Newcastle University,UK. Where his project with ABB robotics which included giving a vision to a robotic manipulator was very well recieved. He always dreamt of working with automated systems and robots and Newcastle University provided him with everything he wanted. Those were the years that pushed towards realising his dreams and making breakthroughs in this field. Kavitsu as a brand was previously well known in the Gearbox industry. Slew bearings was a relatively new field. Thier journey with slew bearings began when his father saw a rotating gear in Voltas. At that time, slew bearings was a niche market and everything was either imported from Germany or China. They discussed this and decided to Make it in India. Thats how Kavitsu Robotronix was incepted. They did numerous tests and RnD and launched it in the Indian market. It was well received by the businesses as they were extremely competent and delivery times were relatively on the lower side ascompared with other counterparts. They can proudly say that they are counted amongst India's leading manufacturer and exporter of slew bearings. USP of Kavitsu is Faster delivery periods, extremely competitive pricing and quick turnaround time for services.
The main USP is that they provide high quality repair and refurbishment services for damaged slew bearings,which currently no one in India provides. That is the reason why they have regular clientele from construction and material handling industry. Thier mission is to cater to the domestic market, while reducing the burden of imports. They focus mainly on Make in India concept which is the brainchild of our honorary Prime Minister Mr. Narendra Modi. Their a highly skilled design team which provide solutions to customers and their ongoing research and work on continuous improvement of the products in the shortest possible time is their speciality. Thier refurbishmentservices ensure that the bearings work for at least 60% of their life cycle as compared to the new bearings. Around 50% of the bearings they manufacture are exported all over the globe. Knowing your customer can help you a lot in getting business. We generally do not deal with the customers whose only criteria is Price. A substandard product will make sure your name goes down in the market. Networking is important as well. We focus on social media for brand awareness. We ensure that the customers get details of all our product launches as they happen, says Mr. Phadtare, whose business philosophies have contributed immensely to his success. Not only this, Kavitsu strongly believes in quality over Quantity. Their major customers are the big OEMs which believe in the same concept as theirs. A happy customer can get you 10 new customers, but a sad and unhappy customer can reduce that number in 100s. They always make sure that Customer satisfaction should be a priority. With his business acumen and ideal life philosophies, Kaustubh Phadtare, is indeed a business tycoon to watch out for and learn from. His journey only looks onwards and upwards hereon.
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TOP MERGERS & ACQUISITIONS PFIZER'S UPJOHN-MYLAN MERGER Generic pharmaceutical company Mylan will merge with Pfizer's off-patent medicines unit Upjohn. The new firm will be based in the US, with anticipated revenues of $19–20 billion (£15–16 billion) in 2020. The intention is to combine Pfizer's distribution network in China and other emerging markets with Mylan's existing products in developed markets and future generics, but the deal does not include Pfizer's biosimilars.
JAPAN'S OSAKA GAS TO BUY SABINE OIL Osaka Gas Co Ltd said it will buy U.S. shale gas developer Sabine Oil & Gas Corp for $610 million, as the Japanese company looks to expand its overseas business for future growth. The deal marks the first acquisition of a U.S. shale gas developer by a Japanese company, Osaka Gas said. The Japanese firm, which bought an interest in the field in July last year, will become operator of the business, which owns 175,000 net acres in East Texas with about 1,200 wells producing about 1.7 million tonnes of shale gas a year.
M&M JOINT VENTURE WITH IDEAL MOTORS M&M enter joint venture with Ideal Motors of Sri Lanka to set up car assembly plant. In a bid to accelerate its global footprint, Mahindra & Mahindra, the country's leading utility vehicle maker on Saturday inaugurated its first completely knocked down facility in Sri Lanka with its local joint venture partner Ideal Motors under the subsidiary Mahindra Ideal Lanka. The local automotive car assembly plant at Welipenna, near Colombo, Sri Lanka will assemble range of utility vehicles and commercial vehicles for the company in order to arrest high import duties in Sri Lanka for completely built imports which ranges 100% to 300% based on engine size or cubic capacity.
LONDON STOCK EXCHANGE TO BUY EIKON-OWNER REFINITIV Deal will increase LSEG's presence in US and allow expansion into Asia. The London Stock Exchange Group has agreed a $27bn (£22bn) deal to buy Refinitiv in a move that will transform it into a UK-headquartered, global rival to Michael Bloomberg's financial news and data business. The all-share deal will allow LSE to take control of Refinitiv, whose Eikon terminals on trading floors challenge those provided by Bloomberg, from a consortium led by Blackstone and including Thomson Reuters, which owns the Reuters news service.
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OLA ACQUI-HIRES BENGALURU-BASED AI STARTUP PICKUP.AI Indian ride-hailing company Ola has acquired Bengaluru-based artiďŹ cial intelligence startup Pickup.ai at an undisclosed amount. Founded by Inder Singh and Ritwik Saikia, Pickup.ai uses autonomous technologies like AI, computer vision and sensor fusion to provides seamless AI-powered solutions for businesses. With this deal, sources say that the Pickup.ai team will be joining Ola as a part of the deal.
RELIANCE INDUSTRIES WITH MICROSOFT'S AZURE CLOUD PLATFORM Reliance IndustriesNSE -0.82 % Ltd on Monday announced a partnership with Microsoft's Azure cloud platform, in a move that deepens the offerings of its Jio telecoms unit while posing a direct challenge to rival cloud services providers such as Amazon.com and Alphabet's Google. As part of the 10-year alliance, Jio will build data centres across India that will be hosted on Microsoft's Azure cloud, Reliance Chairman Mukesh Ambani told shareholders at the company annual shareholders'
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ABHI GROUP COMPANIES Abhi Group of companies hold a significant position in the ever growing market with diversified verticals on a global platform. Event & Entertainments Supply Chain & Logistics Healthcare Real Estate Media ABI IMPACT Logistic & Solution Pvt. Ltd & ASH Logistics and Traders Pvt. Ltd Offers best- in- class service in the filed of Supply Chain & logistics in the following Functional Areas: Transportation 3rd Party Logistics & In-plant Services Warehousing Logistics Consultancy Freight Forwarding Impressions Entertainments & Event Pvt. Ltd. Impressions Entertainments & Event Pvt. Ltd. offers excellent service in the field of Events & Entertainment in the following Functional Areas Corporate Events Brand Promotions & Activations Bouncer Services Celebrity Management Social Events
Abhi Realty & Infra Pvt. Ltd. Abhi Realty & Infra Pvt. Ltd. offers consultancy in real estate segment in the following functional areas: Pan India Assistance in Buying / Selling , Leasing of Properties (Bungalows, Villas, Apartments, Commercial spaces & Open Plots) Assistance in Housekeeping & Security Services Janwarta News Janwarta News is an 14 years old local news channel holding a significant footprint to reach more than 10 Lakh subscribers & established with the aim of broadcasting different current affair and issues relating to social, political, art & culture, sports etc. Multichoice Healthcare Service Pvt. Ltd. Multichoice Healthcare Service Pvt. Ltd. offers best in class consultation services in Dermatology Cosmetology Weight Loss Hair Treatment Laser Services
Corporate Office: Office No.16, 3rd Floor, Primrose -The Mall, Baner Road,Pune-411045 Tel: 020 6607 3050/51/52, Email: sales@impact-logistics.in, Web: www.abhigroup.co.in Business Enquery : 95790-95790
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SECTOR REVIEW - COSMETICS TYPES OF COSMETICS AND ATTRACTIVENESS PRODUCTS
Cosmetics are substances or products used to enhance one’s or alter the appearance of the face or fragrance and texture of the body. Many cosmetics are designed for use of applying to the face and body. They are generally mixtures of chemical compounds; some being derived from natural sources (such as coconut oil), and many synthetic or artificial. Cosmetics that are applied to the face to enhance ones appearance are often called make-up items. Common make-up items include: lipstick, mascara, eye shadow, foundation, blush, and bronzer. Other common cosmetics include skin cleansers, body lotions, shampoo and conditioner, hairstyling products (gel, hair spray, etc.), perfume and cologne. In the United States, the Food and Drug Administration (FDA), which regulates cosmetics, defines cosmetics as "intended to be applied to the human body for cleansing, beautifying, promoting attractiveness, or altering the appearance without affecting the body's structure or functions". This broad definition includes any material intended for use as a component of a cosmetic product. The FDA specifically excludes pure soap from this category.
Cosmetics are intended to be applied externally. They include, but are not limited to, products that can be applied to the face: skin-care creams, lipsticks, eye and facial makeup, towelettes, and colored contact lenses; to the body: deodorants, lotions, powders, perfumes, baby products, bath oils, bubble baths, bath salts, and body butters; to the hands/nails: fingernail and toe nail polish, and hand sanitizer; to the hair: permanent chemicals, hair colors, hair sprays, and gels. A subset of cosmetics is called "makeup", refers primarily to products containing color pigments that are intended to alter the user's appearance. Manufacturers may distinguish between "decorative" and "care" cosmetics. Cosmetics that are meant to be used on the face and eye area are usually applied with a brush, a makeup sponge, or the fingertips, or a beauty blender.
GLOBAL COSMETIC SKIN CARE MARKET 2019-2023 | PRESENCE OF PREMIUM BRANDS DRIVES GROWTH A key driver for the global cosmetic skin care market is the presence of premium brands. The increasing popularity and presence of premium cosmetic skincare brands have led to the growth of the market in recent times. Affluent consumers are continually looking to update and advance their knowledge about skin care and thereby, are receptive to learning and engaging with luxury and premium brands online. These affluent consumers have been influencing premium skincare brands to build up their digital appeal and credibility to boost their market share. This global cosmetic skin care market research report also provides an analysis of the most important trends expected to impact the market outlook during the period 20192023. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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NEW FASHIONS IN COSMETIC TECHNOLOGY While attendees at in-cosmetics Global “photobombed” supplier selfie stations, immersed in textural experiences, traced next-gen solutions in sustainability and internalized holistic approaches to skin and hair health, education sessions surrounded the show floor with a deeper dive into several core areas. One in particular gave an overarching view of six new trends in cosmetic technology; moderating the session was Paolo Camattari, formulation technology manager, of Oriflame.
1.CIRCULAR ECONOMY The latest approach to sustainability that companies are embracing is recycling natural by-products and waste from food and agriculture to create active ingredients for cosmetics. Giorgio Dell'Acqua, Ph.D., a consultant and long-time proponent of this practice, gave Cosmetics & Toiletries an example. “I recently collaborated on a project to re-use the skin of blueberries from foods to protect against blue light,” he said.
2. ARTIFICIAL INTELLIGENCE FOR INGREDIENT DISCOVERY Technology is enabling the reinvention of traditional ingredients in numerous ways; from refined processing methods to impart added benefits, to in silico modelling that takes some guess work out of the discovery process. Neil Foster, of Nutrias, spoke on the latter.
3. MACROBIOTICS FOR COSMETICS No discussion of the latest trends in cosmetic technology would be complete without considering recent advances in microbiome research. Denis Wahler, of Givaudan Active Beauty, provided this. With the advent of metagenome and biogenetic technologies, he explained that researchers have been able to measure the importance of the skin microbiome in hygiene and personal care. From this, cosmetic scientists have focused on its crucial link to beauty and well-being. However, an important connection the industry must make is in educating the consumer.
4. HYDROTALCITES FOR CONTROLLED DELIVERY According to Michele Sisani of Prolabin & Tefarm S.r.l., synthetic layered double hydroxide clays (LDHs) have attracted attention due to their easily tuned chemical composition, biocompatibility and lack of toxicity. Structurally, these materials comprise positively charged layers and charge-balancing exchangeable anions located in their interlayer regions. They are currently used as carriers of drugs, amino acids and antibiotics, and show good results in terms of controlled release, drug loading and the protection of labile biomolecules.
5. WEARABLES FOR NON-INVASIVE SKIN RESEARCH If you ask Emer Duffy, of Dublin City University, wearables hold potential beyond health trackers and entertainment value; they have real clinical applications. According to Duffy, there is increasing interest in the development of non-invasive tools for investigating the properties of skin, as they promise non-destructive sampling, reduced ethical concerns and comparability of results in vivo and in vitro.
COSMETICS
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TOP 5 COSMETICS COMPANIES IN THE WORLD 2019 The beauty industry is a multi-billion-dollar industry which is known to stay strong even in times of economic strife, while the following top 10 cosmetics companies are leading the global cosmetics market for decades.
Lakme It also launched the Lakmé Perfect Radiance and Lakmé eyeconic kajal which gained significant market share. In the financial year 2012, Hindustan Unilever Limited had a rise in profit before tax and interest of about 23%.
Lotus His brand deals with manufacturing and selling of various kinds of cosmetics. The list includes face cleansers, sunscreens, winter care, hair oils, and shampoos. Passi knew the importance of good packaging and made sure his products stand out in design. He also priced his products at least 10-15% lower than the contemporary brands in the segment.
Biotique The ingredients used are extracted naturally from herbs. Moreover the herbs/plants used for extracting raw material are also monitored from its nascent stage hence the end product is organic.
Touching People's Lives The vast majority of Europe's 500 million consumers use cosmetic and personal care products (hereafter 'cosmetics') contributing to well-being and healthy lifestyles, and positive self-esteem every day. Ranging from antiperspirants, fragrances, makeup and shampoos, to soaps, sunscreens and toothpastes, cosmetics play an essential role in all stages of our life
L'Oreal L'Oreal is one of the giants in the cosmetic segment in the world. Jean-Paul Agon is the chairman and CEO. The Company has been present in India for about 20 years.
Revlon India Pricing is done for the mid-level consumers as it neither too high nor too low priced. The company owns approximately 2025 % of the domestic colour cosmetic market share.
Maybelline It was later acquired by L'Oreal and in India it was launched by its subsidiary, L'Oreal India.
Use of cosmetics In terms of the frequency with which cosmetic products are used, differences can be observed across countries, between people of different genders and ages and for different cosmetic products. The market penetration of some cosmetic products is likely to be near 100%. For instance, deodorant penetration is close to total in the UK, whereas results from a 2017 survey show that 90% of young women (18- 29 years old) use deodorant every day (Statista, 2018a). In France, 98% of adult women and 94% of adult men use liquid shampoo.
Expenditure on cosmetics Information from the literature review indicates that average annual spend on cosmetics increases by age, such that older consumers spend considerably more than their younger counterparts. In the UK, for example, consumers aged over 65 spend more than three times as much on 'health and beauty' as consumers aged 19-24 (Kantar Worldpanel, 2014, as reported by Statista, 2015). European women over the age of 60 spend three times as much on skincare as women under 25.
Functional benefits Cosmetics contribute to well-being and healthy lifestyles. As our hands are vectors for disease, carrying pathogens from contaminated sources to susceptible hosts, simple tasks such as washing hands with soap can help prevent serious illness. Multiple studies have shown that the leading causes of child mortality in developing countries, diarrhoeal disease and respiratory infections, can be prevented by handwashing with soap. Indeed, a recent literature review by Ensink (2015) reveals that handwashing with soap can reduce the risk of diarrhoea by around 44% to 47% and acute respiratory illness by 23%.
Functional benefits and Emotional benefits
Emotional benefits Cosmetics can help to improve our mood, enhance our appearance and create positive self-esteem. They can also help to exhibit personal style and, as such, are an important means of social expression. A recent Consumer Insights survey by Cosmetics Europe has shown that 72% of people believe that cosmetics improve their quality of life, while 74% of people believe cosmetics help them to build up their selfesteem.
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NEW OPPORTUNITIES IN THE DIGITAL ECONOMY
NEW OPPORTUNITIES IN THE DIGITAL ECONOMY The digital economy is developing rapidly and is the single most important driver of European innovation, competitiveness and growth (European Commission, 2015). Although e-commerce only accounts for a relatively small proportion of overall cosmetics sales, the quantity, value and overall proportion of cosmetic products sold online in Europe is expected to grow substantially over the coming years. In Germany, for example, online beauty and cosmetics sales increased by 14% in 2017, faster than the overall online retail market (Rigby, 2018). The cosmetics industry is at the forefront of stimulating new online retail formats and the digital economy will increasingly impact the way the industry communicates with people and distributes its products.
TOP 4 COSMETICS STOCKS OF 2018 THE ESTÉE LAUDER COMPANIES INC. (EL) Estée Lauder has led the cosmetics space for so long that it is hard to imagine any other company taking over the top spot.
INTER PARFUMS, INC. (IPAR) This company focuses on fragrances. It sells through its European segment and its United States segment.
NU SKIN ENTERPRISES, INC. (NUS) Nu Skin's specialty is anti-aging products. It also sells nutritional supplements. Some of its products are designed for weight management, and it also offers hair care products.
COLOR COSMETICS MARKET OVERVIEW: Global Color Cosmetics Market was valued at $5,875 million in 2016, and is projected to reach $9,555 million by 2023, registering a CAGR of 7.4% from 2017 to 2023. Color cosmetics are the combination of chemicals used for enhancing the appearance or imparting aroma to the human body. These cosmetics include facial make up products, nail care products, lip care products, and eye make-up products. The global color cosmetics market is segmented based on target market, application, and geography. Based on target market, it is classified into prestige products and mass products. The mass products segment is anticipated to dominate the global color cosmetics market during the forecast period, owing to the innovation and affordability.
TOP 4 COSMETICS STOCKS OF 2018
COTY INC. (COTY) This beauty products company is a worldwide marketer of fragrances, cosmetics, and skin care products.
“Everyone has the KEY, it’s just a matter of using it right.”
WHY JOIN GIBF GIBF aims to form a Global Business Community for large scale international networking. E-magazine by GIBF is a fantastic platform to promote businesses reaching out to over 50 million businessmen and professionals globally GIBF knows the value of appreciation and hence, Award Ceremonies are organized at International, National and State level to recognize and appreciate successful brands, business leaders and young entrepreneurs. Furthermore, various 'Success Stories' are acknowledged and appreciated by the forum in a special edition of the Emagazine and on digital social media platforms. GIBF is an excellent platform to promote Trade fairs from across the globe, where you are also guided with the best Trade fairs to participate in, and to broaden your business horizons. You can register for such Trade fairs through GIBF. GIBF helps its members to get valuable information of important tenders for big projects, contracts and procurements. The forum provides help, representation and guidance to companies or entrepreneurs in matters involving Government Authorities and Agencies. GIBF is a one stop centre for all business development activities and it is confident of opening up potentially important markets as well as great business avenues for its members.
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Netherlands Discover our bulb ďŹ elds, windmills, cheese markets, wooden shoes, canals of Amsterdam, masterpieces of Old Masters, Delft Blue earthenware, innovative water-management and millions of bicycles.
infocus
The Netherlands, a country in northwestern Europe, is known for a at landscape of canals, tulip ďŹ elds, windmills and cycling routes. Amsterdam, the capital, is home to the Rijksmuseum, Van Gogh Museum and the house where Jewish diarist Anne Frank hid during WWII. The Rembrandt House Museum (Dutch: Museum Het Rembrandthuis) is a historic house and art museum in Amsterdam in the Netherlands. Painter Rembrandt lived and worked in the house between 1639 and 1656. The 17thcentury interior has been reconstructed. The collection contains Rembrandt's etchings and paintings of his contemporaries. Since 2008, the museum had around 200,000 visitors per year, with a record number of 237,383 visitors in 2014. The Vondelpark is a public urban park of 47 hectares (120 acres) in Amsterdam, Netherlands. It is part of the borough of Amsterdam-Zuid and situated west from the Leidseplein and the Museumplein. The park was opened in 1865 and originally named Nieuwe Park (English: New Park), but later renamed to Vondelpark, after the 17th century playwright and poet Joost van den Vondel. Yearly, the park has around 10 visitors. In the park is an open-air theatre, a playground
and several food service facilities. The Vondelpark Openluchttheater is an open-air theatre with shows from June until August. There are performances of classical music, pop music, world music, dance, musical theatre, and cabaret. The theatre receives a subsidy from the city government. And although all performances have free entrance, visitors are asked for a donation of one euro.
Netherlands Game The Netherlands' mainstream video games market, not taking into consideration the serious and casual games, is the sixth largest in Europe. The Dutch market takes up 3.95% of the entire European market in total sales and 4.19% in software sales. In the Netherlands, an estimated of 3,000 people are working in the games industry, at more than 330 companies.Over 45 of the companies are located in the Dutch Game Garden, a government subsidized organization with the aim of promoting and improving the video games industry in the Netherlands.
Naturally Rich A country with great agricultural land has natural advantages. If it can feed itself it will not need to buy that product from other countries, reducing import needs. Furthermore if it has an abundance of agricultural products, it can generate export revenues. Energy is almost as vital
as food in the industrialised world, so countries with oil or gas reserves (and to an extent coal), such as the OPEC nations are assured foreign exchange revenues and influence (although since oil is paradoxically a curse, they are also assured troubled).
Economy According to the World Bank and the International Monetary Fund, the Netherlands was the 18th largest economy of the world in 2012 with an estimated population of about 16.9 million inhabitants. Its GDP per capita was estimated at roughly $48,860 in the fiscal year 2017/18 which makes it one of highest-earning nations in the world, annual economic growth (GDP) averaged over 4%, well above the European average of 2.5% at the time. Growth slowed considerably in 2001–05 as part of the global economic slowdown. 2006 and 2007 however showed economic growth of 3-4% per annum. The Dutch economy was hit considerably by the financial crisis of 2007–2008 and the ensuing European sovereign-debt crisis. Main Industries : agriculture-related industries, oil and natural gas, metal and engineering products, electronic machinery and equipment, chemicals, petroleum, construction, microelectronics, fishing GDP –By Sector : agriculture: 1.6%; industry: 18.8%; services: 79.6% (2015 est.) Exports : $528.2 billion (2016 est.) Exports commodities : natural gas, machinery & equipment, chemicals, fuels, foodstuffs Exports - partners : Germany 24.5%, Belgium 11.1%, France 8.4%, United Kingdom 9.3%, Italy 4.2% (2015 est.) Imports : $429.5 billion (2016 est.) Imports - commodities: machinery and transport equipment, chemicals, fuels, foodstuffs, clothing Imports - partners : Germany 14.7%, China 14.5%, Belgium 8.2%, Russia 5.7%, United Kingdom 5.1%, Norway 4.1% (2015 est.)
RENEWABLE RESOURCES For long-term economic stability, it is important that a balance exists between the economic pressure on natural resource supplies on the one hand and the ability of these resources to recover on the other. The indicators under this theme describe total supplies of renewable resources (e.g. wood, water and biodiversity) and non-renewable resources (such as fossil energy carriers), in both quantitative and qualitative terms. With the size of the built-up area in the Netherlands still expanding, there is continuously growing pressure on ecosystems and biodiversity. However, stocks of renewable resources such as forests (standing timber) and fish are replenishing. Standing timber stocks have increased by both forest expansion and increase in estimated wood stock per hectare. The quality of marine ecosystems is measured in terms of the size of fish stocks. Many fish stocks in the North Sea are restored due to catch limits set by the European Union.
Culture The culture of the Netherlands is diverse, reflecting regional differences as well as the foreign influences built up by centuries of the Dutch people's mercantile and explorative spirit. The Netherlands and its people have long played an important role as centre of cultural liberalism and tolerance. A prime traditional festivity in the Netherlands is Sint Nicolaas or Sinterklaas. It is celebrated on the evening before Sinterklaas' birthday on December 5, especially in families with little children. Sinterklaas has a companion known as Zwarte Piet, which in recent years has come under scrutiny in light of accusations of racist caricatures. In the United States the original figure of Dutch Sinterklaas has merged with Father Christmas into Santa Claus. In the Netherlands, giftbringing at Christmas has in recent decades gained some popularity too, although Sinterklaas is much more popular.
Transportation The main public transport in the Netherlands for longer distances is by train. Long-distance buses are limited to a few missing railway connections. Regional and local public transport is by bus, and in some cities by metro and tram. Both regional and city public transport bus services can be found throughout the country. Because of the extensive rail network, long-distance bus services are limited to a few connections where train connections are missing or would require a considerable detour. In the Randstad area lines with a high frequency and higher average speed have been branded as R-Net. These lines all use the same colour scheme, regardless of the company operating the line. All bus operations are awarded by a transport authority to companies by a public tender. The concessions can last up to 10 years, with extensions of a few years if the transport authority is satisfied. Amsterdam Airport Schiphol, located 9 km (5.6 mi) southwest of Amsterdam, is the main international airport in the Netherlands, Schiphol is the primary hub for Dutch flag carrier airline KLM and its regional affiliate KLM Cityhopper, as well as for other Dutch airlines Corendon Dutch Airlines, Martinair, Transavia and TUI Airlines Netherlands.
Investment in Netherlands In the UNCTAD 2018 World Investment Report, the Netherlands was ranked the sixth country in the world (and first among European nations) for inward FDI flows in 2017, losing a place compared to the previous year. In 2017, FDI influx to the Netherlands reached almost USD 58 billion, a decrease of 32% from 2016, following the global trend. Total FDI stocks stood at USD 974.7 billion, roughly 127.8% of the country's GDP (with a 17% increase year-on-year). The main investing countries are the US (20.5% of total stocks), Luxembourg (13.9%), United Kingdom (9.5%) and Switzerland (5.8%). The vast majority of investments are allocated in the financial and insurance services (80.8%), with the manufacturing sector also playing an important part (12%).
Strong Points Highly developed communication and transport infrastructures A qualified, productive and multilingual workforce that makes it suitable for export trade A strategic geographical location, which makes it a gateway to the main European markets Exports are diversified and external accounts are in surplus thanks to export-friendly structures and infrastructure.
Weak Points: High costs of the workforce The small size of the internal market A great dependence on the world economic situation and, in particular, the EU
Government Measures to Motivate FDI: Since January 2007, the Dutch tax environment for international companies has become even more attractive. For example, the corporate tax rate has been lowered to a rate well below the EU average. Similarly, the new quadripartite government coalition is continuing its efforts by introducing an expansionary fiscal policy providing for a further decline in income tax and increased spending in the areas of social affairs, defence and education. The declared goal is to increase household spending and thereby mitigate one of the main weaknesses of its internal market. All government measures can be consulted on the website of the Netherlands Foreign Investment Agency.
SMARTER INVESTING: Experience & Discipline IMPORT-EXPORT The main commodities exported by India to Netherlands: petroleum oils,medicaments, grapes, fresh or dried . The major commodities imported by India from Netherlands : polyacetals, ferrous waste aluminium waste and scrap.
INDIA NETHERLANDS TRADE RELATIONS India and the Netherlands have a bilateral trade of US$ 8.77 billion. Indian Exports to the Netherlands grew at 14.7%, while Indian Imports grew at 18.2%. During the current financial year, FY 20182019, total two- way trade stood at US$6.28 billion.
Netherlands GDP Growth Rate
Consulate General of the Kingdom of the Netherlands 1st floor, Forbes Building, Charanjit Rai Marg, Azad Maidan, Fort, Mumbai 400 001 India
ECONOMIC BILATERAL AGREEMENTS AND MOU's ISRAEL-UKRAINIAN BILATERAL COOPERATION DEAL The Israeli prime minister and Ukrainian president agree to increase investment and expand cooperation on technology, education, agriculture, culture and sports. Israeli Prime Minister Benjamin Netanyahu and Ukrainian President Volodymyr Zelensky signed bilateral agreements on Monday, a day after the Israeli leader landed in Kiev for an official visit. In a statement following the signing at the presidential palace, the two leaders said both countries agreed to boost investment and expand cooperation on technology, education, agriculture, culture and sports. Zelensky said Ukraine was going to open a special investment office in Jerusalem, while Netanyahu said Israel would do the same in Kiev. Speaking next to Zelensky, Netanyahu praised the flourishing relations and increasing technological ties between the two nations. “I think the future belongs to those who innovate; Israel is the quintessential innovation nation,” said Netanyahu. “Ukraine has enormous talents and capacities. We have discovered this because Israeli companies are here, we engage with tens of thousands of talented Ukrainians in mathematics and computer engineering, in every conceivable field of modern technology. We see their talent, we both see the opportunity, we want to seize the future.”
ZAMBIA, SOUTH AFRICA CEMENT BILATERAL TIES Acting Minister of Foreign Affairs Vincent Mwale has called for stronger existing bilateral relations between Zambia and South Africa. He noted that the two governments need to build on the historical relations already established by the founding fathers. Mr. Mwale who is also Minister of Local Government and Housing was speaking during the opening of the Heads of Mission Conference for the African region of the Republic of South Africa. He said he was hopeful that the deliberations will focus on pertinent matters that will continue to drive the foreign policy.
ZIM, NAMIBIA SIGN SEVEN AGREEMENTS ZIMBABWE and Namibia yesterday signed seven bilateral agreements under the 9th Zimbabwe-Namibia Joint Permanent Commission on Cooperation (JPCC), with President Mnangagwa and his host, President Hage Geingob, undertaking to further strengthen economic ties between the two countries. Relations between Zimbabwe and Namibia date back to the two countries' liberation struggles, and yesterday, the two Presidents shared anecdotes of how the countries have been consolidated over the years. Some of the deals include a Memorandum of Understanding (MoU) on promotion of small to medium enterprises, with particular focus on women; terms of reference on joint trade and economic cooperation; and a revised MoU on information and media. The two countries agreed to cooperate in the area of science and technology development, while the Zimbabwe Revenue Authority (Zimra) and the Namibian Customs and Excise Department signed an agreement on mutual customs administrative assistance. Zimra and the Namibian Customs and Excise Department also signed an agreement on practical implementation of bilateral trade agreements while Mashonaland West Province and Namibia's Kavango eastern region agreed on a twinning arrangement.
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CHINA, COLOMBIA SIGN 12 NEW AGREEMENTS TO STRENGTHEN BILATERAL TIES Colombian President Ivan Duque and his Chinese counterpart Xi Jinping Wednesday agreed in Beijing to strengthen bilateral relations as they signed 12 bilateral accords in areas including judicial cooperation, trade, agriculture, education and customs. China welcomes Colombia to take part in the Belt and Road construction so as to realise the alignment of development strategies of both sides and enhance people-to-people exchanges, to jointly safeguard the existing international system within the United Nations to promote the reform of global governance mechanisms which will hopefully result in a more open economic globalization process.
BANGLADESH AND GERMANY Bangladesh and Germany signed two bilateral agreements on development cooperation with German assistance worth 200 million euros or Tk 1,846.6 crore for various development projects. The projects under the agreements will support Bangladesh in the following areas -- renewable energy and energy efficiency, climate change adaptation in urban areas, textile sector, water resource management, Sundarbans mangrove management plan with study and expert fund of EUR 2 million. Germany has been providing financial and technical assistance for the development of Bangladesh since 1972, which amounts today to a total of over EUR 3 billion, according to the German Embassy in Dhaka. German–Bangladesh Development Cooperation has a long-standing history in supporting infrastructure, health, poverty alleviation, good governance and human rights, energy efficiency and renewable energy, climate change adaptation, and recently also the Rohingyas and host communities in Cox's Bazar district, it said.
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Global India Business Forum Invite you to a Networking Event and Intractive sessions With Consul General From Ethopia, El Salvador & Afghanistan st
21 Sept 2019 INTERNATIONAL BUSINESS SEMINAR AND BUSINESS EXCELLENCE AWARDS
EXPLORE BUSINESS OPPORTUNITIES IN ETHIOPIA, EL SALVADOR & AFGHANISTAN VENUE
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SEMINAR REGISTRATION Rs. 1200/+91 8530246006 / 9021744448
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SECTOR REVIEW - HEALTH CARE Health care, health-care, or healthcare is the maintenance or improvement of health via the prevention, diagnosis, and treatment of disease, illness, injury, and other physical and mental impairments in people. Health care is delivered by health professionals in allied health fields. Physicians and physician associates are a part of these health professionals. Dentistry, midwifery, nursing, medicine, optometry, audiology, pharmacy, psychology, occupational therapy, physical therapy and other health professions are all part of health care. It includes work done in providing primary care, secondary care, and tertiary care, as well as in public health. Health care systems are organizations established to meet the health needs of targeted populations. According to the World Health Organization (WHO), a well-functioning health care system requires a financing mechanism, a well-trained and adequately paid workforce, reliable information on which to base decisions and policies, and well maintained health facilities to deliver quality medicines and technologies.
HEALTH CARE INDUSTRY The health care industry incorporates several sectors that are dedicated to providing health care services and products. As a basic framework for defining the sector, the United Nations' International Standard Industrial Classification categorizes health care as generally consisting of hospital activities, medical and dental practice activities, and "other human health activities." The last class involves activities of, or under the supervision of, nurses, midwives, physiotherapists, scientific or diagnostic laboratories, pathology clinics, residential health facilities, patient advocates or other allied health professions.
HEALTH INFORMATION TECHNOLOGY Health information technology (HITis information technology applied to health and health care. It supports health infor mation management across computerized systems and the secure exchange of health information between consumers, providers, payers, and quality monitors. Based on an often-cited 2008 report on a small series of studies conducted at four sites that provide ambulatory care – three U.S. medical centers and one in the Netherlands – the use of electronic health records (EHRs) was viewed as the most promising tool for improving the overall quality, safety and efficiency of the health delivery system. According to a 2006 report by the Agency for Healthcare Research and Quality, broad and consistent utilization of HIT will: Improve health care quality or effectiveness Increase health care productivity or efficiency Prevent medical errors and increase health care accuracy and procedural correctness Reduce health care costs
HEALTH CARE RESEARCH The quantity and quality of many health care interventions are improved through the results of science, such as advanced through the medical model of health which focuses on the eradication of illness through diagnosis and effective treatment. Many important advances have been made through health research, biomedical research and pharmaceutical research, which form the basis for evidence-based medicine and evidence-based practice in health care delivery.
Increase administrative efficiencies and healthcare work processes Decrease paperwork and unproductive or idle work time Extend real-time communications of health informatics among health care professionals Expand access to affordable care
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HEALTH CARE GROWTH
TOP HEALTHCARE COMPANIES IN INDIA Apollo Hospitals Enterprise Limited Apollo Hospitals Enterprise Limited is a healthcare provider. The company is engaged in offering healthcare services and operating standalone pharmacies. The company's segments include healthcare, pharmacy and others.
Thyrocare Technologies Limited Thyrocare Technologies Limited is an India-based healthcare service provider. The company operates with a centralized processing laboratory (CPL) in Mumbai, India for esoteric tests, and regional processing laboratory in metro cities of India and other parts of Asia.
Fortis Healthcare Limited Fortis Healthcare Limited is an integrated healthcare delivery service provider. The company is engaged in establishing, maintaining, operating, running, managing or administering hospitals, medicare, healthcare, diagnostic, health aids and research centers.
INVESTMENTS IN THE INDIAN HEALTHCARE INDUSTRY The hospital and diagnostic centers attracted Foreign Direct Investment (FDI) worth US$ 6.09 billion between April 2000 and March 2019, according to data released by the Department of Industrial Policy and Promotion (DIPP). Some of the recent investments in the Indian healthcare industry are as follows: Healthcare sector in India witnessed 23 deals worth US$ 679 million in H12018. India and Cuba have signed a Memorandum of Understanding (MoU) to increase cooperation in the areas of health and medicine, according to Ministry of Health and Family Welfare, Government of India. Fortis Healthcare has approved the de-merger of its hospital business with Manipal Hospital Enterprises. TPG and Dr. Ranjan Pal could invest Rs. 3,900 crore (US$ 602.41 million) in Manipal Hospital Enterprise.
GOVERNMENT INITIATIVES Some of the major initiatives taken by the Government of India to promote Indian healthcare industry are as follows: On 23 September 2017 , Government of India launched Pradhan Mantri Jan Arogya Yojana (PMJAY), to provide health insurance worth Rs 500,000 (US$ 7,124.54) to over 100 million families every year. In August, the Government of India has approved Ayushman Bharat-National Health Protection Mission as a centrally Sponsored Scheme contributed by both center and state government at a ratio of 60:40 for all States, 90:10 for hilly North Eastern States and 60:40 for Union Territories with legislature. The center will contribute 100 per cent for Union Territories without legislature. The Government of India has launched Mission Indradhanush with the aim of improving coverage of immunisation in the country. It aims to achieve atleast 90 per cent immunisation coverage by December 2017 which will cover unvaccinated and partially vaccinated children in rural and urban areas of India.
THE TOP HEALTHCARE COMPANIES IN THE WORLD United Health Group United Health Group, Inc. UNH (United Health) is the largest health care services company in the world, serving over 50 million individuals in the United States as of late 2018 and 5 million in Brazil. The company provides a wide range of health care products and services, such as health maintenance organizations (HMOs), point of service plans (POS), preferred provider organizations (PPOs), and managed fee-for-service programs.
Medtronic Medtronic plc (MDT) is a global device manufacturer that develops pacemakers, defibrillators, orthopedics, diabetes management tools, and many other medical devices. The company has a 50% market share of the core heart devices industry. It is also a leader in spinal products, insulin pumps, and neuromodulators for chronic pain.
Abbott Laboratories Abbott Laboratories (ABT) is a diversified health care products company that focuses on nutrition, diagnostics, generic drugs, and medical devices, following the spinoff of the AbbVie prescription pharmaceuticals segment in 2013. The company has recently implemented cost-cutting plans that should propel bottom-line growth.
Thermo Fisher Scientific Thermo Fisher Scientific, Inc. (TMO) offers analytical instruments, laboratory equipment, software, services, consumables, reagents, chemicals, and supplies to pharmaceutical and biotech companies, hospitals and clinical diagnostic labs. The conglomerate was created by the 2006 merger of Thermo Electron Corporation and Fisher Scientific to create a company with an extensive product offering with diverse geographic coverage.
McKesson Corporation McKesson Corp. (MCK) is the largest pharmaceuticals distributor in the U.S. and provides drugs, medical products, and health care information technology. With over $100 billion in annual revenue, McKesson is positioned favorably as a powerhouse in the industry.
INDUSTRIES WITHIN THE HEALTHCARE SECTOR The healthcare sector contains a diverse array of industries, with activities ranging from research to manufacturing to facilities management.
DRUGS Drug manufacturers can further be broken down into biotechnology firms, major pharmaceuticals firms, and makers of generic drugs. The biotech industry consists of companies that engage in research and development to create new drugs, devices and treatment methods.
MEDICAL EQUIPMENT Medical equipment makers range from firms that manufacture standard, familiar products – scalpels, forceps, bandages, gloves – to those that conduct cutting-edge research and produce expensive, high-tech equipment such as MRI machines and surgical robots. Medtronic plc (MDT) is an example of a medical equipment maker.
MANAGED HEALTHCARE Managed health care companies provide health insurance policies. The "Big Five" firms that dominate the industry are United Health Group Inc. United Health (UNH), Anthem Inc. (ANTM), Aetna Inc. (AET), Humana Inc. (HUM) and Cigna Corp. (CI).
HEALTHCARE FACILITIES Health care facilities firms operate hospitals, clinics, labs, psychiatric facilities and nursing homes. Examples include Laboratory Corp. of America Holdings (LH), which operates facilities that perform blood tests and other analysis; and HCA Healthcare Inc. (HCA), which operates hospitals and other healthcare facilities in the U.S. and UK.
BIG DATA IN THE HEALTHCARE MARKET 2018 GLOBAL FORECASTS ANALYSIS, COMPANY PROFILES, COMPETITIVE LANDSCAPE AND KEY REGIONS 2022 AVAILABLE AT MARKET RESEARCH FUTURE.
The Global Big Data in the Healthcare Market is expected to reach US$ 17,278.13 million by 2022, and the market is projected to grow at a CAGR of ~ 20.69 % during the forecast period 2015-2022.
NATIONAL HEALTHCARE AND HOSPITAL CARE SPENDING Hospitals have always been one of the major cornerstones of the healthcare industry. According to a survey on national health expenditures by Centres for Medicare and Medicaid Services (or CMS), in 2011, hospital care accounted for a total of $850 billion of the total $2.7 trillion of national health expenditures. The National Health Expenditure Projections 2012–2022, written by CMS, suggests that healthcare spending will pick up in 2014 and reach 6.2% year-over-year. Nine million Americans are projected to have access to health insurance. Hospital care spending amounts to approximately one-third of total healthcare spending. As payment models evolve and hospitals strive to introduce cost efficiencies, analysts predict that growth in hospital care spending will be less than the remaining healthcare industry's spending.
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Ecuador Charles Darwin visited Ecuador's Galápagos Islands in 1835 and largely based his theory of evolution on the discoveries he made there. Guinea pig, known as 'cuy', is considered a delicacy in Ecuador, its consumption seen as an ancient tradition.The Panama hat is actually from Ecuador.
infocus
Ecuador is a country straddling the equator on South America's west coast. Its diverse landscape encompasses Amazon jungle, Andean highlands and the wildlife-rich Galápagos Islands. In the Andean foothills at an elevation of 2,850m, Quito, the capital, is known for its largely intact Spanish colonial center.
The Amazon rainforest, covering much of northwestern Brazil and extending into Colombia, Peru and other South American countries, is the world's largest tropical rainforest, famed for its biodiversity. It's crisscrossed by thousands of rivers, including the powerful Amazon. River towns, with 19th-century architecture from rubber-boom days, include Brazil's Manaus and Belém and Peru's Iquitos and Puerto Maldonado.
Cotopaxi is an active stratovolcano in the Andes Mountains, located in the Latacunga canton of Cotopaxi Province, about 50 km (31 mi) south of Quito, and 33 km (21 mi) northeast of the city of Latacunga, Ecuador, in South America.[3] It is the second highest summit in Ecuador, reaching a height of 5,897 m (19,347 ft). It is one of the world's highest volcanoes.
Since 1738, Cotopaxi has erupted more than 50 times, resulting in the creation of numerous valleys formed by lahars (mudflows) around the volcano. The last eruption lasted from August 2015 to January 2016.[6] Cotopaxi was officially closed by the authorities to climbing until it reopened on October 7, 2017.
Ecuador Game The national team's matches are the most watched sporting events in the country. In June 2007, FIFA adopted a resolution, prohibiting international football games at or higher than 2,500m above sea level. Ecuador, Bolivia and other South American countries issued a joint letter of protest against this ruling. Ecuador qualified for the finals tournaments of both the 2002 and 2006 FIFA World Cup. Ecuador finished ahead of Poland and Costa Rica, to come second to Germany in Group A, in the 2006 FIFA World Cup.
Naturally Rich Ecuador's main natural resources are petroleum, fish, timber and hydropower. Its main hazards are frequent earthquakes, landslides, volcanic activity, floods and periodic droughts. In the agricultural sector, Ecuador is a major exporter of bananas (first place worldwide in production and export), flowers, and the eighth largest producer of cocoa. It is also significant in shrimp production, sugar cane, rice, cotton, corn, palm and coffee.
Economy The economy of Ecuador is the eighth largest in Latin America and the 69th largest in the world by total GDP.[13] Ecuador's economy is based on the export of oil, bananas, shrimp, gold, other primary agricultural products and money transfers from Ecuadorian emigrants employed abroad.[14] In 2017, remittances constituted 2.7% of country's GDP. The total trade amounted to 42% of the Ecuador's GDP in 2017. The country is substantially dependent on its petroleum resources. In 2017, oil accounted for about one-third of public-sector revenue and 32% of export earnings Main Industries : petroleum, food processing, textiles, wood products, chemicals GDP –By Sector : Agriculture: 6.7%, Industry: 32.9%, Services: 60.4% (2017 est.) Exports : $19.3 billion (2017) Exports - commodities: petroleum, bananas, cut flowers, shrimp, cacao, coffee, wood, fish. Exports - partners: United States 31%, Vietnam 7.6%, Chile 6.9%, Panama 4.8%, Russia 4.7% (2017.) Imports : $19.3 billion (2017) Imports - commodities: industrial materials, fuels and lubricants, nondurable consumer goods. Imports - partners: United States 19%, China 19%, Colombia 7.8%, Brazil 4.5%, Panama 4.4% (2017).
RENEWABLE RESOURCES The National Plan for Good Living 2013–2022 (PNBVSENPLADES 2013-2017) sets a target of reaching 60 per cent of national capacity from renewable energy sources by 2017. Objective 11.1 of this National Plan lays special emphasis on hydropower and bioenergy. The Electrification Master Plan 2013–2022, approved by Resolution CONELEC 041/13, puts forward plans for 25 hydropower projects totalling 4.2GW of new capacity by 2022, as well as an additional 217MW of solar, wind and other non-conventional renewables. Previously, the National Plan for Good Living 2009–2013 had set out a target of six percent of installed capacity being sourced from renewable energy (other than large hydro) by 2013 Renewable energy sources are expected to play a growing part in meeting future energy demands, and with the right government support will ideally one day end Ecuador's dependence on imported fossil fuels.
Culture Each region is divided according to its own unique geography, creating a sense of individual regional pride. The most notable regional competition or confrontation is the one between Guayaquileños and Quiteños. This sense of regionalism has created many barriers between people. Due to regionalism, the economy has suffered severely, because people on either side will hesitate to do anything that might result in the expansion of the other's economy, even if it would mean slowing their own economy. An Ecuadorian's day, at least as far as his or her diet is concerned, is centered around lunch, rather than dinner as in Western cultures. There is no one food that is especially Ecuadorian, as cuisine varies from region to region of the country. For example, costeños (people from the coast) prefer fish, beans, and plantains (unripened banana like fruits), while serranos from the mountainous regions prefer meat, rice, and white hominy mote. There is no one food that is especially Ecuadorian, as cuisine varies from region to region of the country. For example, costeños (people from the coast) prefer fish, beans, and plantains (unripened banana like fruits), while serranos from the mountainous regions prefer meat, rice, and white hominy mote.
Transportation Transportation in Ecuador uses six transportation methods to transport passengers and freight (more specifically, oil). They are aviation, highways, pipelines, ports and harbors, railways, and waterways. Intercity bus service is available to all major areas in the country, though the quality of what is available varies greatly. As well, bus drivers tend to drive fast – and often recklessly. It is only $10 USD to bus from Quito to Guayaquil, around a 9 hour ride. No International train service – the national railroad from Quito to Guayaquil (Via Lactacunga and Riobamba) is reportedly being rebuilt but certain sections are open to tourists such as from Alausi to Nariz del Diablo. Mariscal Sucre Airport is the International Airport in Quito. The José Joaquín de Olmedo International Airport in Guayaquil is new and located next to the bus terminal and has dutyfree shopping. The one-hour flight from Quito to Guayaquil is approximately $70 USD each way.
Investment in Ecuador Almost 80% of foreign investments target the oil sector. For the first time since 2015, FDI inflows have reached to a record level, USD 1.4 billion in 2018 (from USD 618 million compared to last year) (UNCTAD, World Investment Report 2019). The drop in oil prices and the country's high dependence on this sector have thus strongly impacted FDI. The stock of FDI increased to USD 18.6 billion in 2018, or 17.4% of GDP. According to Central Bank of Ecuador, FDI flows have rised on the last quarter of 2018 and showed an improvement compared to previous years. Nevertheless; business access in Ecuador continues to be a challenge: labour regulations are very complex and government policies tend to be very interventionist, especially in the oil sector. FDI inflow remains very low when compared to other countries in the region.
% SMARTER INVESTING: Experience & Discipline
IMPORT-EXPORT Productive Promotion and Attraction of Foreign Investment Law The Productive Promotion and Attraction of Foreign Investment Law was passed on August 21, 2018, and is one of the major statements made by the Ecuadorian government that express their intention to grow the economy, reduce unemployment, cover the fiscal breach and achieve continuous development. To help achieve these objectives, the law addresses the condonations of interest, charges and fines of outstanding tax obligations and other obligations with different types of authorities. However, the most salient reforms included in the law refer to specific benefits to new investments in Ecuador.
The main commodities exported by India to Ecuador: tractors, rodenticides, motorcycles The major commodities imported by India from Ecuador: aluminium waste and scrap, zinc waste
What are the benefits for new investments in basic industries? Additionally, the new productive investments that begin as of the effectiveness of the law in the stated economic sectors determined, are entitled to the exemption of income tax for 15 years. The period of exoneration will be counted from the first year that income is generated directly. The basic industries can be seen below: Casting and refining of copper and/or aluminium; Steel foundry for the production of flat steel; Refining of hydrocarbons; Petrochemical industry; Cellulose industry; Construction and repair of naval vessels
INDIA ECUADOR TRADE RELATIONS : Bilateral trade between Ecuador and India rose from US$98.9 million in 2009 to $1.29 billion in 2014-15. Bilateral trade declined to $553.14 million in 2015-16. India exported $415.45 million worth of goods to Ecuador, and imported $137.69 million in 2015-16.
CONSULATE GENERAL OF ECUADOR Gayatri Plaza 301, 3rd floor, Turner Road Bandra (West) Mumbai 400 050 India
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UPCOMING TRADE FAIRS VIBRANT GOA GLOBAL EXPO AND SUMMIT 2019.
The idea of bringing honorable PM Shri Narendra Modi's Vibrant legacy to regional level turned out very well with the success of Vibrant Kutch 2015, Vibrant Saurashtra 2016 and Vibrant Tamilnadu 2018.
On the basis of overwhelming inputs received from potential exhibitors, industrialists, political leaders and potential business visitors, the business community of Goa has encouraged us to continue the Vibrant series and recommended us to organize the same for Goa.
Vibrant Goa Global Expo And Summit 2019 (VG GES 2019) will be an ideal convergence for Goan industries and business community to showcase their strengths, highlight business opportunities and facilitate knowledge dissemination across 12 countries worldwide and 20 states of India. VG GES 2019 will provide a practical opportunity to its participants to understand the potential of Goa across various sectors.
DURING VIBRANT GOA 2019, WE ARE GOING TO CREATE THE WORLD RECORD FOR THE LARGEST FENI (CASHEW FRUIT LIQUOR) DRINK
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