India as a Market-oriented Economy: Present and Future

P.V. Viswanath

FIN 680A/ FIN 360A/ INB 670C/ ECO 395

Fall 2009

Course Focus

This course will look at the evolution of companies in India as the country moves towards being a more open and market-oriented economy. We will look at the changing financial framework in which these firms operate; how it has helped, hindered and changed firms' strategies. In particular we will look at the move from a planned economy to an economy driven by consumer and investor needs and demands

Course Focus

We will also look at how India is preparing to be a future economic power, including the challenges and opportunities facing Indian leaders. Infrastructure, both financial and physical will be addressed.Students will visit firms in several industries, financial institutions, cultural and historical sites, and business schools.

Industries

Entertainment– Bollywood Film Studio

Auto Industry and Ancillaries– Tata Motor Company– Gilbert and Maxwell Transformers Private Limited– Bosch (India)

Industries

IT/ BPO– Tata Consultancy Services

Financial Services and Financial Infrastructure– National Stock Exchange/ Reserve Bank of India/ SEBI– Microfinance Housing Corporation– Foreign Exchange Market

Innovation– Tata Research Development and Design Centre

(TRDDC)– Grassroots Innovations Augmentation Network (GIAN)

Visits: BombayFinance/Management Visits– Indian Express (Newspaper)– National Stock Exchange/ Reserve Bank of India– Federation of Indian Export Organizations– Microfinance Housing Corporation– Foreign Exchange Market in India– Securities and Exchange Board of India (SEBI)– Bollywood Studio

Cultural Visits– Dharavi– Market Tour

Visits: Nashik

Finance/Management Visits– Sula Vineyards– Gilbert and Maxwell Transformers Private Limited– Bosch (India)

Cultural Visits– Godavari – NandurMadhmeshwar Bird Sanctuary

Visits: PuneFinancial/Management Visits– Tata Motor Corporation– Tata Research Development and Design Centre

(TRDDC)– TCS (Tata Consultancy Services)– GIAN: Innovation

Cultural Visits– Shaniwar Wada– Peshwa Museum– Singhgad

Course StructureWe will have online discussions based on texts throughout the term.In addition, we will, tentatively, have six in-class meetings:– September 21– Oct. 5– Oct. 26– Nov. 16– Nov. 30– Dec. 7

Course Requirements

Participation in Online DiscussionsReport on a topic of choice (to be selected with me) and powerpoint presentation on Nov. 30/Dec. 7 (for graduate students only)Brief write-up (about two pages) on the trip as a whole plus more focused descriptions of two specific visits, not in the same industry/area (two pages per visit).

Potential Research Topics

Any industries of interest to you– Auto Industry– Entertainment– Print

MicrofinanceFinancial Services in IndiaPopulation Demographics and the pattern of industrial development

Bombay: Gateway of India

Marine Drive: Queen’s Necklace

Bombay: September Festivals

Ganesh ChaturthiBandra Fair, Mount Mary Church

Nashik: Banks of the Godavari

Nashik: Architecture

Traditional House Facade

Sarkarwada: Historic building from 19th century

Pune: Past and Present

Shaniwar Wada: 18th century palace fort

Infosys building

Market TourMumbai is about the life and energy on its streets and its people, and there are few better places to experience this than walking through the bazaars of Kalbadevi and Bhuleshwar.The area is a fascinating mix of shops, stalls, noise and activity, as well as mosques, temples, peace and tranquility. The tour includes Crawford Market (fruit and veg market), Mangaldas Market (cotton/silk market), Jama Masjid (mosque), Zaveri Bazaar (gold market), Mumbadevi temple (Hindu temple), Bombay Panjrapole (Cow Shelter) and Madhav Baug (peaceful courtyard). Our guide will show you through the hustle and bustle of the area, stopping en route to talk about the area, its people and its culture. Although this is not a shopping tour, the guide can assist you if there's anything that catches your eye. And for those that want to, there will also be an opportunity to eat Mumbai's famous street food (mostly vegetarian).

Market Tour

Dharavi Tour• Dharavi is the heart of small scale industries

in Mumbai (annual turnover is approximately US$ 665 million).

• See a wide range of these activities- from recycling, the making of clay pots, embroidery, bakery, soap factory, leather tanning, papad (poppadom) making and many others, most of which take place in very small spaces.

• See the sense of community and spirit that exists in the area. People from all over India and from all religions live in Dharavi, Hindu temples, mosques and churches.

Sinhgad Fort, Pune

Sinhagad is a fortress located roughly 30 kilometres southwest of the city of Pune, India. It is situated on a hill rising 800 metres above the surrounding countryside. The fort has been the site of many important battles, most notably the battle of Sinhagad in 1670. It’s history goes back to at least 1350 CE. Perched on an isolated cliff of the Bhuleswar range of the Sahyadri Mountains, its height above sea-level is 1350 metres.

Pandava Caves, Nashik

A cluster of Hinayana Buddhist rock cut caves dating from around the 1st century BCE, the Pandavleni caves, are located on the Trivashmi hills. Remarkably carved doorways and brilliant sculptures are the main characteristics of Pandavleni caves, which might have been used as the dwelling places of the monks.