Tough competition ahead for Indian businesses
Thursday, 30 December 2010, 06:05 IST
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Tough competition ahead for Indian businesses
Mumbai: Despite a fair recovery in the global economy, businesses worldwide, including in India, will have to go through a tough phase as the environment gets more challenging, according to a report by Ernst & Young. The study titled 'Competing for Growth' that involved 1,400 senior executives globally, states that the next two years would be a challenging period for the business firms. About 95 per cent of the Indian respondents state that there will be more focused on growth besides being varied and volatile in the next two years as compared to the crisis period, according to the study. India is said to remain the third most volatile market at 69 per cent after Japan (74 per cent) as margins will be under pressure due to price erosion and increasing labour costs. Brazil is said to be the most volatile market.
Source: PTI
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