NextBillion - A WDI Publication

Innovate for India’s Poor

When the Korean steelmaker Posco decided to invest $11 billion in the bleak hinterland of eastern India, it might have expected to be greeted with flowers. Instead, two Posco executives were recently kidnapped, but later released unharmed, in a protest over government policies to transfer land from struggling farmers to the mega-corporations driving India’s modernization. It is only the latest evidence of gathering rage among the hundreds of millions who remain mute spectators to ...

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Wall Street Journal (link opens in a new window)

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Asia Pacific

Microsoft Launches Educational PC In India

Microsoft has teamed up with Advanced Micro Devices and India?s Zenith Computers to launch a personal computer aimed at Indian students for 21,000 rupees ($513). The IQ PC will run on AMD Athlon processors and have education software from both Microsoft (nasdaq: MSFT - ...

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Forbes (link opens in a new window)

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Asia Pacific

Big Boom Coming Soon in India’s Small Car Segment

Even as competition has built up to unprecedented levels in the car market, one segment has remained untouched - that of entry-level small cars. But that’s all set to change from next year, with a slew of cars priced around Rs 1 lakh revving to get off the blocks. Urban planners might be appalled at what this could mean for traffic congestion and parking, but companies - and consumers - are raring to go. The first launch will be that of Tata Motors’ much-talked-about Rs 1 la...

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The Times of India (link opens in a new window)

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Asia Pacific

Global fin giants to go micro in India

India?s growing microfinance segment may soon see the entry of global financial services giant, Morgan Stanley and the Switzerland-based Blue Orchard Finance. Both these firms are in talks with the banking regulator Reserve Bank of India to foray into the local microfinance segment. Indian microfinance institutions have already started looking at diversifying their avenues to raise funds as part of the effort to lo...

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The Economic Times (link opens in a new window)

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Asia Pacific

PM approves strategy to expand microfinance outreach to 3 mln households

Prime Minister Shaukat Aziz has approved the strategy to expand microfinance outreach from one million to three million households by 2010. He was chairing a meeting here Wednesday to review the strategy prepared by State Bank of Pakistan (SBP) to increase the coverage of microfinance sector in Pakistan. The Prime Minister said Pakistan has come a long way in introducing and familiarizing the micro finance concept. However, strategic steps need to be taken and multiple approaches ...

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Associated Press of Pakistan (link opens in a new window)

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Asia Pacific

India, Inc. gets back to the basics

Salvation in a sachet is passe now. Rural India will no longer be the playing ground of the FMCG bigwigs alone. In fact, many sectors such as telecom, IT, retail and education are at various stages of striking a deal with the aam aadmi. According to a recent Assocham report, the per capita income of semi-urban Indians is around Rs 15,000 per annum, whereas it?s Rs 7,000 per annum for rural populace. As per its findings, by 2012, the per capita income of rural population will do...

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The Economic Times (link opens in a new window)

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Asia Pacific

Reliance, Bharti may storm microfinance

Reliance Retail and Bharti, which has joined hands with Wal-Mart, could storm the micro-credit space as they look to establish rural supply chain linkages to service their mega retail forays. According to sources, Reliance Retail is likely to move the RBI seeking permission to set up an NBFC arm that will operate as a microfinance institution (MFI). It may also look at partnering existing MFIs as part of its ambitious supply chain with rural and semi-urban markets for which the co...

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The Economic Times (link opens in a new window)

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Asia Pacific

Now that China eased market entry policies for banking institutions in rural China last month, seven commercial banks have applied to set up a subsidiary in rural areas. On Dec. 22, 2006, the China Banking Regulatory Commission (CBRC) published proposals to give financial institutions more market access in rural areas. The move was aimed to promote rural development. The CBRC has received applications from Minsheng Bank, Beijing Rural Commercial Bank, Tianjin Rural Cooperat...

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Xinhua (link opens in a new window)

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Asia Pacific