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Tuesday November 24, 08:12 PM
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Quotes from the Reuters India Investment Summit
MUMBAI (Reuters) - Following are selected comments from speakers at the 2009 Reuters India Investment Summit that runs from Monday to Wednesday.
TUESDAY
C. RANGARAJAN, CHAIRMAN, PRIME MINISTER'S ECONOMIC ADVISORY COUNCIL
CAPITAL INFLOWS:
"If it touches close to $100 billion then that is the time when we really need to act, but at the moment I think that all the indications are that the total capital flows during the whole year would be $57-60 billion, and that is manageable."
"At the moment I don't see any strong measures to control capital inflows. But if the flows really become very strong, then we could take some action to restrict some of the inflows."
A SUBBARAO, GROUP CHIEF FINANCIAL OFFICER, GMR GROUP:
"We are in discussion with a number of ... private equity or any other pure financial investors would come in at holding company level, not at project level."
MICHAEL BONEHAM, FORD MOTOR INDIA'S MANAGING DIRECTOR
"If you want to be in the game here in India, you have got to be in that (small car) segment. If not, you'll be an interesting niche player, not a mainstream player. And Ford wants to be a mainstream player here."
RAJEEV TALWAR, GROUP EXECUTIVE DIRECTOR, DLF
"You are now hitting an upside cycle (for housing), but you are not at the crest."
"If the economy is firmly in the saddle and running, in early 2010/11 you will see a huge revival in commercial real estate and little later year in retail. Maybe in the third quarter of the next financial year you will see a huge revival in retail."
MADHU KANNAN, CHIEF EXECUTIVE OFFICER, BOMBAY STOCK EXCHANGE (^BSESN : 16031.27 -10.91
):
"We want to transform this institution from what was essentially a single-product exchange to one which offers tradable products across all asset classes."
"(At the BSE) we were an ivory tower. The CEO was on the 26th floor and now we have moved to a nice, small, functional office ...which is closer to the team. Culturally that has made an impact."
MONDAY
S.MAHALINGAM, CHIEF FINANCIAL OFFICER, TATA CONSULTANCY SERVICES (TCS.NS : 734.25 -0.9):
"As far as this quarter is concerned, it will certainly be a growth quarter. But we don't believe it will be the same growth, in terms of volume, as the previous quarter."
"I would say that the pricing pressure is certainly not felt intensely at this point in time."
KEVIN WATTS, INDIA COUNTRY HEAD, BANK OF AMERICA-MERRILL LYNCH:
"I think volatility of fund flows is certainly something I would be worrying about if I was advising the government."
"When you start taxing things, there are a lot of unintended consequences."
"Critically for India, any unilateral move of that kind would really damage its reputation globally."
SRINIVASAN VARADARAJAN, EXECUTIVE DIRECTOR, AXIS BANK:
"We do not see the complexion of the bank changing drastically from what it is today in any form."
"It is important to play to your strengths rather than going into a segment which isn't your best."
"Companies are running a tight ship. It is more a question of the global economy. Once that picks up, confidence will come back for expansions.
SAM GHOSH, CEO RELIANCE CAPITAL:
"We have raised retail money for IPOs. We should gradually move into getting mandates."
(For all summit stories click http://in.reuters.com/news/globalcoverage/summit)
(Reporting Reuters Mumbai and Delhi Bureau; Editing by John Mair)
