Indian insurance companies are expected to spend around INR 12,100 crore (US$ 1.94 billion) on IT products and services in 2014, registering a 12 per cent growth over 2013. Segments like internal IT (including personnel), hardware, software, external IT services and telecommunications are expected to dominate the spending charts of insurance companies this year. Whilst IT services should remain the biggest spending segment at INR 4,000 crore in 2014, the software segment worth INR 1,200 crore...
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India is amongst the top five countries in the world leading the global green building movement with over 2,380 registered green building projects. The coverage of green building technology has moved up to 1.82 billion sq feet in 2013 from 20,000 sq feet in 2003 and is expected to further increase to 5 billion sq feet by 2017. With the building stock in India reaching 100 billion sq feet by 2030 from the existing 25 billion, the number of green building projects is expected to increase substa...
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The hospitality sector in India is expected to add 52,000 new hotel rooms by 2017, translating into a 65 per cent rise in total hotel inventory in the country. Huge potential in the domestic market and improving global economic conditions are expected to result in better demand in the hospitality sector in coming years. The NCR region is expected to contribute around one-third to the total expected hotel rooms supply in the period. Presently the tourism and hospitality industry in India stand...
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The last week kept the IBEF team fully engaged at the India Adda set up at Davos 2014 coinciding with the Annual Meeting of the World Economic Forum. From the moment that the Adda got started on day one at Davos 2014, it saw a relentless stream of delegates present at Davos. In sum, we saw ourselves engaging in constructive conversations with global professors on the future outlook for the world and India in context on the one hand to conversations with Indian and foreign business leaders on ...
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Just scanning the India news channel reports on India representation and status at Davos. The agenda at WEF Davos 2014 certainly appears more real than the previous year aiming to balance a host of new challenges that surfaced last year, largely technology related on the one hand and on the other hand the impacting geopolitics. And in the midst of this, critical issues that impact business in India, namely, manufacturing to infrastructure and outlook on the future economy have found a place i...
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The India Adda is ready to welcome the World Economic Forum guests. As the Adda was literally being built wall by wall and the open space converted into the Adda, curious eyes looked on whilst media, largely international, dropped to engage with IBEF to know more about the Adda. The representation of contemporary business India in princely court art and the tribal Warli art form combined with infographics is possibly unique and being undertaken for the first time. Through the day IBEF team c...
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