INDIA NEWSLETTER March 2014 Embassy of India Djordja Radojlovica 7a Belgrade, 11040 (Serbia) Tel: 011/2666-520 Fax:011/3674-209 E-mail: consbg@eunet.rs comsecc_bg@eunet.rs www.eoibelgrade.gov.in INDEX: India Economic News Government of India Tenders Bilateral Relations Forthcoming Events Trade Fairs in India Useful Links 0 pg 1 pg 5 pg 5 pg 8 pg 10 pg 11 India Economic News: GDP may grow 5.6% next fiscal: India Ratings The economy is likely to grow 5.6 % in the next fiscal, India Ratings and Research has said. This is lower than the Government’s estimate of 6 %. IMF has projected a growth rate of 5.4 % while NCAER says it will be 5.6%. The World Bank has given most optimistic estimate of 6 %. Growth in 2013-14 is estimated at 4.9 %. “The economic growth in FY15 (2014-15) is likely to be contributed majorly by the industrial sector, which is estimated to grow by 4.1 %. This is good news for centre as well state government finances,” it said in a report on public finances. State finances were likely to remain resilient to the slowdown, it said, estimating some slippage in the fiscal deficit of states, which could go up to 2.3 % against 2.2 % in 2013-14. Value added tax (VAT) on petroleum products could pose a concentration risk for the consolidated state finances if crude oil prices decline, though this presently looks difficult. The petroleum sector contributed nearly 30 % (with a growth of 14.4 % on yearly basis) to the VAT collection of states. Aggregate debt of states as a percentage of GDP is likely to increase to 21.7 % in the current fiscal from the budgeted estimate of 21.5 %. Despite this slippage, debt will be sustainable as the agency believes nominal growth of the economy in excess of interest rate on debt will continue to support the agency’s debt sustainability expectations. However, indirect risk such as guarantee and 1 deficit, state PSUs' debt could impact the credit profile of some states. It expects the liquidity of state governments to remain comfortable in 2014-15. Even in the current fiscal most states did not face difficulty due to a surge in investment in the national small savings fund. India breaks into top 10 list in 2013 With an estimated market size of $5 billion, India's the 14th largest advertising market in the world. And in the latest edition of the Gunn Report, it's finally broken into the Top 10 list of countries that have won the most advertising awards. That's up from the 13th spot last year. The Gunn Report is an annual publication, authored by Donald Gunn and Emma Wilkie, which ranks ad agencies across the world by their wins at the top creative awards shows. The report was first published in 1999 and the rankings are used by network agencies and marketers. The report also names McCann WorldGroup India (Mumbai) as the most awarded Indian agency, a position the agency held in 2007. Taproot India (Mumbai), which topped the India chart in 2012 has slipped to the number 2 spot. In joint third position are JWT India (Mumbai) and Leo Burnett India (Mumbai & Delhi). The surprise this year is Ogilvy & Mather - from dominating the Gunn Report between 2008 and 2012, it's at the 5th spot this year. "When I joined advertising, India was like an isolated island. But now the global advertising fraternity can relate to us with strong brand building and some great creative work," says Prasoon Joshi, Executive Chairman, McCann World-Group India. Joshi admits such recognition helps an agency attract and nurture great talent. "Different award shows honor different kind of craft. But the Gunn Report gives the holistic picture about an agency," he says. Company officials added that the project would employ around 140 personnel, including physicians, paramedical professionals, registered nurses, support and administrative staff. The majority of the clinical staff is from Naryana Health, with doctors trained and worked in the UK or the US, company officials said. Narayana Health opens hospital in Cayman Islands Cipla bets big on cell therapy The hospital founded by Devi Shetty, which was a pioneer in low-cost hospitals, has opened a multi-care hospital in Cayman Islands, which will be a 104-bed hospital providing open-heart and bypass surgery, angioplasty, heart-valve replacement, paediatrics and orthopaedics, including joint replacements, according to a company statement. This hospital will be spread across 107,000 square feet in the Caribbean region, which has a population of approximately 40 million and located close to Jamaica, which is a 90-minute flight from Miami in Florida. With the setting up of this hospital, for the first time an Indian hospital chain has ventured outside the country and as per company plans, the project aims to have 2,000 beds. The project was jointly done by Narayana Health and Ascension Health Alliance, a large private non-profit healthcare network in the US, according to company officials. Stem cells are set to be a major branch of medical treatment, says Cipla Chairman YK Hamied. Regenerative medicine, or cell therapy, is a rapidly emerging area of biomedical research and would be an ideal supplement for existing medical treatments, he added. Cell therapy refers to treatments that are founded on the concept of producing new cells to replace malfunctioning or damaged cells as a vehicle to treat disease and injury. “We have a research unit in Malaysia that is conducting research on stem cells,” Hamied said while speaking about Stempeutics Research with which it has an alliance. The Manipal Group-promoted Stempeutics is developing stem cell-based medicinal products with facilities in Kuala Lumpur (Malaysia) and Bangalore. The enormous potential of stem cells in the treatment of chronic and several incurable diseases is boosting the overall stem cells therapy market, he added. This is a $2 billion project that will be built in phases over 15 years on a 200-acre site and apart from a tertiary-care hospital. It will include an educational facility, biotech park and a home for aged people. Poised to reach an estimated $88.3 billion by 2015, the global stem cells market has been growing at a compounded annual growth rate of 14.8 %, driven by the increasing demand of stem cell therapy. Ashutosh Raghuvanshi, Vice-Chairman, MD & Group CEO, Narayana Health, said: “The Cayman Islands has a safe and stable economy and is geographically positioned to serve the Caribbean and the Americas.” In India, the stem cell business is expected to touch $8 billion by 2015. With three phase II clinical trials in progress in India – for critical limb Ischemia (meaning restriction in blood supply to tissues), osteoarthritis and liver cirrhosis – 2 Stempeutics aims to bring the first product into the Indian and Malaysian markets by 2015. Under the alliance, Cipla has invested over USD 8 million in Stempeutics, with a focus on research of stem cell-based products, and has done something similar in China, where it has streamlined its investments towards its core business. The drug-maker recently exited a significant part of its investment in its Chinese partner Desano Holdings. Despite the lack of legislation and awareness, besides quality and ethical issues that have deterred growth of the stem cell therapy business in India, the country remains the top priority for the Mumbaibased drug-maker. “India is still the best. Yes, we have units in China and conduct research in Malaysia, but we have always been very nationalist minded,” said Hamied. “We have always held that the (Indian) Government can do more for domestic companies. They should give us infrastructure, strengthen indigenous manufacturers.” SpiceJet orders 42 Boeing 737s in $4.4-bn deal Low-cost airline SpiceJet is revamping its network strategy to save costs and improve yields. The measures include closure of fivehour or longer international flights and deploying aircraft on shorter routes which would help increase revenue. The Sun group-controlled airline signed a $ 4.4-billion deal for 42 fuel-efficient Boeing 737 Max planes. The planes would be delivered from 2018 onwards. These would be financed with a sale and leaseback model. 3 “We are looking at every aspect of procurement. We are introducing a new schedule and changing flight patterns which will improve productivity of pilots and crew by 20%. We are replacing aircraft seats with lighter seats, which will reduce aircraft weight by up to one tonne. Our own time performance has improved. We have also intensified our marketing efforts and this has showed results,” said SpiceJet chief operating officer Sanjiv Kapoor. Amongst the routes it has dropped include DelhiGuangzhou and Delhi-Riyadh, both over five hours long, and is replacing them with shorter flights. Kapoor said he wants SpiceJet to be an ultra low-cost airline but admitted that managing costs in India was a challenge.Currently, SpiceJet has a fleet of 56 planes comprising 41 Boeing 737s and 15 Bombardier Q400 turbo year 737 prop planes. The airline would induct five Boeing 737 each till 2017. SpiceJet has been facing financial turbulence with high operating costs leading to losses. In the last couple of months, the airline has been launching discount offers which many industry experts say is an indication of cash flow problem. However, Kapoor said the offers had significantly improved the unit revenue of the airline in last two months in comparison to the same period last year. (A unit revenue measures the cash earned by an airline divided by total capacity). Maruti to set up brand centres across India to showcase its products and technologies Maruti Suzuki is on a drive to boost its image from being a maker of small cars to one that manufactures technologicallyadvanced vehicles across several segments. The nation's largest carmaker will set up brand centres at upmarket locations across India to showcase its products and emerging technologies. The strategy assumes significance as the first phase of its Gujarat plant is now funded entirely by its Japanese parent, Suzuki Motor, through a wholly-owned unit. That leaves Maruti with room to invest its cash surplus of USD 1.16 billion in other areas. Maruti plans to set up these centres at 16 prominent and strategic markets that generate more than half its sales. In the first phase, it has shortlisted places like Kolkata, Kochi, Chandigarh, Chennai, Jaipur, Indore and Bangalore. "The company is in the process of acquiring land across different strategic locations, which are either state capitals or located in the vicinity of its regional marketing offices," a senior Maruti Suzuki executive said. These 16 centres would purely engage customers to new products and modern technologies that the company plans to debut in India. It plans to spend about USD 10 million each to buy properties in posh locations with the total investment expected to be in the region of USD 170 million. The company would develop impressive boutique structures at these places. These centres will cater to only brands and will not transact any kind of commercial business of selling or servicing cars. Maruti is concentrating not just on small compact cars business, but is also increasingly diversifying into new areas like multi-utility, crossovers and sport-utility vehicles, which now form more than 20% of the Indian passenger vehicle market. It had successfully launched the Ertiga multipurpose vehicle in 2012 and it plans to debut the all-new SX4 S-Cross and the CIAZ sedan later this year. Besides, a range of SUVs and light commercial vehicles are also on its list for the future. The brand centres would 4 showcase new products and allow customers to directly interact with the company, a move that Maruti expects will help generate long-term positive brand perception. Maruti already owns around half-a-dozen plush sales outlets. Located at prime locations in Mumbai and central Delhi, these outlets have been handed over to dealers to transact commercial business. These prime showrooms operating in shopping hotspot and glitzy malls in the metros have helped Maruti penetrate deeper into larger urban markets that account for a major chunk of the new cars sold in India. Honda plans India R&D unit with investment of USD 80 million to develop affordable cars Japanese carmaker Honda Motors is planning to set up a subsidiary in India that would work towards developing cars for the local market and increasing the use of locally-made components in its existing vehicles to make them more affordable. The facility, Honda Genbetsu India (HGID), would focus on research and development and is likely to come up at the company's existing manufacturing plant at Greater Noida. It already has local R&D operations, which would likely be separated into the new unit, they said. The unit will likely come at an initial investment of around USD 80 million. According to sources in the automotive industry, this facility will extend support for Honda's localisation strategy for its running models as well as provide designing support for some upcoming India-specific models in the near-term. After developing a phenomenally fuel efficient diesel engine and lining up some interesting products like the Mobilio multipurpose vehicle and the Jazz premium hatchback for India, Honda is enthusiastic about its prospects in the Indian auto market. It plans to develop smaller cars focusing on the Indian market where HGID would play a critical role. Honda sales have zoomed after the launch of its diesel cars, especially the Amaze. Honda became the fourth largest carmaker in India in January, overtaking Tata Motors and Toyota Kirloskar Motors. It sold 15,714 cars in January, nearly three times compared with a year earlier. Honda is committed to the Indian market and will expand the focus of its R&D operations towards more Indiaoriented products in coming years. Government of India Tenders: The Government of India Tender Information System http://tenders.gov.in/ Ministry of Home Affairs & culture. The ‘Incredible India' stall was inaugurated by Indian Ambassador along with H.E. Mr. Nebojsa Stefanovic, Speaker, National Assembly of Serbia and H.E. Mr. Igor Mirovic, Minister of Regional Development and Local Self-Government & Acting Minister of Economy of the Republic of Serbia. The Indian Stall was visited by thousands of visitors including Mr. Goran Paskaljevic, famous Serbian film Director who was the President of the Jury in the Goa Film Festival held in November 2013; President of Serbian Tourism Organization, members of the diplomatic corps, tour operators etc. The presence of an Indian Tour Operator Shri Sandeep Jain form Special Holidays Travel Pvt. Ltd., New Delhi, added value to the Incredible India campaign. Indian participation in the event provided a great opportunity for visitors to learn more about Indian culture and tourism potentials. http://mha.nic.in/uniquepage.asp?Id_P k=298 Bilateral Relations : 36th International Fair of Tourism: The Embassy of India in collaboration with the Government of India Tourism Office Frankfurt, participated in the 36th International Fair of Tourism at Hall No. 1 in Belgrade “Sajam” fair grounds from 27 Feb to 02 Mar. Embassy promoted brand “Incredible India” and exhibited Indian handicrafts, tea, textiles, basmati rice and audio-video presentation of Indian tourism 5 Meeting with Head of International Cooperation Department, Megatrend University: Ms. Ana Jovancai, Vice Rector for International cooperation and Mr. Aleksandar Djordjevic, Head of International Cooperation Department, Megatrend University, called on Ambassador on 5 March to discuss possible cooperation including for opening of ‘India Center’ in the University and organizing ‘Days of India’. International Women's Day: On the occasion of International Women’s Day, Ambassador hosted a lunch/buffet on 7 Mar, attended by Ms. Ljubica Vasic, Special Advisor to Serbian Foreign Minister, Ms. Olivera Popovic, Vice President of the Association of Business Women in Serbia, Politika Editor and local Media personalities. of the Republic of Serbia, is the Director of the Dragica Nikolic Foundation. All Party Women Pre-Election Convention: On 08 Mar, Ambassador Commemoration of the 10th Anniversary of the March Pogrom: attended All Party Women Pre-Election Convention, organized by Belgrade Fund for Political Excellence and the Women Parliament Network. On 17 Mar, Ambassador attended the Commemoration of the 10th Anniversary of the March Pogrom against Serbian people and historical and cultural heritage in Kosovo-Metohija at the National Theatre organised by the the Office for KosovoMetohija (KiM), the Kosovska Mitrovica self-government and the organization of the war veterans of the 90s. Indian International Handwoven Fair (IIHF) 2014. The Handloom Export Promotion Council (HEPC) organised the India International Handwoven Fair (IIHF) 2014 from 12-14 Mar at the Chennai Trade Center, Chennai, India. IIHF 2013 had 200 exhibitors representing various parts of India and displaying wide varieties of home textiles, weaves, fashion accessories, textile designs and rugs. The Handloom Export Promotion Council (HEPC) extended a hospitality package for interested international buyers, business visitors, which included to and fro free airfare (up to Euro 900.-) in economy excursion class along with stay in star category hotel for 3 nights. One Serbian company Krunateks d.o.o from Kraljevo importer of home textiles participated in the Expo by availing the hospitality package. Meeting with Ms. Kavita Sharma, Pearls Spices, London: Ms. Kavita Sharma, owner of Pearls Spices, London called on Ambassador on 18 Mar to discuss the possibilities of opening an Indian restaurant in Belgrade. Ms. Sharma visited Belgrade from 18-23 Mar and had meeting with Chamber, hotels and restaurants seeking cooperation. Meeting with Mr. Nikhil Gandhi, Chairman, Pipavav Shipyard Ltd.: Mr. Nikhil Gandhi, Chairman, Pipavav Shipyard Ltd. met Ambassador on 24 Mar to explore the possibilities of India-Serbia cooperation in defence sector. Opening of the Maternity Ward renovated by "Dragica Nikolic Foundation": On 12 Mar, Ambassador attended the official opening of the Maternity Ward renovated by "Dragica Nikolic Foundation" in Kragujevac. Ms. Dragica Nikolic, wife of the H.E. President 6 Meeting with Advisor to Dy. Prime Minister and CFO, Telecom Serbia: Ambassador held a meeting with Mr. Nemanja Stevanovic, Advisor to Dy. Prime Minister of Serbia and Mr. Milenko Dzeltovic, CFO, Telekom Srbija, on 24 Mar to discuss the bilateral economic relations. Representation by Indian company at Hydro Tech Balkan: An Indian “Incredible India” LED Billboard Campaign in Belgrade, Serbia: company, B Fouress P Ltd. participated in HydroTech Balkan 2014 at Hotel Hyatt Regency, Belgrade from 24-25 Mar. The Embassy of India in cooperation with the Government of India Tourism Office, Frankfurt started a Brand India campaign “Incredible India” by displaying beautiful video clips of Indian nature, people and culture on LED billboards in Belgrade city centre. Meeting with State Secretary, Ministry of Culture: Ambassador called on Mr. Dejan Ristic, State Secretary, Ministry of Culture of the Republic of Serbia on 26 Mar and discussed formulation of action plan under the Cultural Agreement that has been negotiated successfully between India and Serbia. Details related to the signing of the Agreement, after Government formation on both sides, were also discussed. Meeting with the Director, CLIO Publishers: Mr. Zoran Hamovic, Director, CLIO Publishers called on Ambassador on 26 Mar to discuss promotion of India related books by Serbian authors/publishers. Citizens and commuters can view the beautiful LED displays from 31st of March to 6th of April in the Kralja Milana street close to Slavija square and from 7th to 13th April at the Terazije square, city center. Meeting with the Director of Filmske Novosti: Mr. Vladimir Tomcic, Director of Filmske Novosti and Ms. Helena Djurdjev, Journalist called on Ambassador on 26 Mar to discuss joint production of documentaries of historical value. Meeting with Mr. Stefan Arsenijevic, Film Director: Mr. Stefan Arsenijevic, a Serbian film director called on Ambassador on 27 Mar to discuss cultural cooperation between India and Serbia. Mr. Arsenijevic has won the best director award at the Sofia International Film Festival for his film "Ljubav I Drugi Zlocini". Mr. Arsenijevic has been invited to participate as a jury member in the International Children Film Festival organised by the City Montessori School (CMS), Lucknow from 715 April 2014. CMS, Lucknow is the world's largest school as per the Guinness Book of World Records with over 47,000 pupils on rolls. 7 Screening of Indian Feature Films: Embassy of India introduced free screening of popular Indian feature films with Serbian subtitled in the Chancery on every Friday and Saturday. During the month of Martch 2013, some popular Indian movies such as “MAMMO”, “CHAK DE! INDIA” (Go,India!), “KATHA DON GANPATRAVANCHI” (A Tale of Two Ganpatraos ), “JAB WE MET” ( When We Met ), “EK CUP CHYA” ( A Cup of Tea ), “MY NAME IS KHAN” and “KRRISH 3”,” were screened. “Incredible India” Bus Branding Campaign in Belgrade, Serbia. The Embassy of India in cooperation with the Government of India Tourism Office, Frankfurt “Incredible India” started a Brand India marketing campaign by exterior branding of two Belgrade city transport busses (line 16 & 83). The two India branded busses will circle the Belgrade streets for at least 6 months, allowing citizens of Belgrade and commuters to enjoy the beautiful sights of Indian nature, people and culture. Forthcoming Events: Indian Fashion Show during Belgrade Fashion Week: The Belgrade Fashion Week from March 28 till April 4, 2014 is showcasing Indian fashion show. India is the guest-host of the Belgrade Fashion Week with one of the most famous Indian designers in the global market, Manish Arora's fashion show. 8 The event included presentation of his collection to Serbian audience and an attractive educational program for students in fashion design, in the field of public relations, scouting, new media, new trends and marketing skills etc. This project aimed to establish and develop direct links between Indian and Serbian fashion industry. Group, to Serbia. These troups will perform in major Serbian cities during 20-26 May 2014. Visit of Indian Scientists to Serbia: A team of eminent Indian scientists will visit Serbia in May 2014 to scope out areas of cooperation and set up joint Centres of Excellence and create joint ventures for industrial application of research. The scientists in the sectors of Bio-medicine (including Pharma and Biotechnology), New Materials and Nanotechnology, Ecology, Energy and Energy Efficiency, Agriculture and Food and ICT will be included in the visiting team. Visit of Serbian Defence Delegation to India: The Serbian Visit of Serbian Film Industry to India: Serbia Film Commission will be leading a delegation to India in April 2014 to meet with their film and TV counterparts seeking bilateral cooperation in film production and distribution. Indian Technical & Economic Cooperation Programme. Indian Technical & Economic Cooperation Programme (ITEC) programme is fast becoming one of the most active areas of bilateral cooperation between India and Serbia. ITEC was introduced in Serbia in 2008 and in this short span, 92 ITEC candidates from Serbia have availed of the ITEC training in India. It is expected that more than 35 candidates from Serbia will visit India during 2014-15 (April 2014 to March 2015) to avail ITEC training in India. Visit of Indian cultural groups to Serbia: The Embassy of India in cooperation with the Indian Council for Cultural Relations, New Delhi, is organizing the visit of two Indian cultural troups - i) Rajasthani Folk and ii) Kathak Dance 9 Defence Delegation comprising of officers from Defence Ministry and state company YugoImport, is expected to visit India in May 2014 to discuss bilateral defence cooperation including joint defence production & training. Meeting of India Serbia Joint Commission on Agriculture: As per the provisions of India-Serbia agreement on cooperation in the field of Agriculture & Allied sectors, a Joint Commission on Agriculture has been set up to implement the provisions of the agreement. The first meeting of the Joint Commission on Agriculture will take place in New Delhi in coming weeks to cooperate in the areas of scientific and technical information, implementation of joint research programmes in the field of agriculture and food industry, organisation of training programmes, seminars and visits of experts & consultants, exchange of good quality hybrids of fields crops and vegetables/fruits, R&D, agro processing, veterinary, joint ventures and B2B cooperation in agriculture and food industry. India's participation in International Agriculture Fair in Novi Sad: A business delegation from India is expected to visit Serbia to participate in the '81st International Agriculture Fair' in Novi Sad from 20-26 May 2014. The event will provide an excellent platform to showcase India's capabilities primarily in Agri-processing & Agri-food, Chemical, Pharmaceutical, Automotive, IT, Textiles & Leather Industry and Agricultural Machinery, Engineering goods & Electrical Industry etc. and will promote a strong 'Brand India' image in the region. The event will also be used to project India's Culture, Tourism, Bollywood and Cuisine etc. more information on forthcoming events is available at the Embassy website http://eoibelgrade.gov.in Trade Fairs in India o iPHEX http://iphex-india.com/2014/ 26-28th of April 2014 Mumbai, India o India International Leather Fair 3-5th July 2014 New Delhi, India www.iilfleatherfair.com o India International Yarn Exhibition www.yarnex.in 9-11 September 2014 Tirupur, India o World Tea & Coffee Expo www.worldteacoffeeexpo.com 11-13th of September 2014 Mumbai, India o Annapoorna World of Food www.worldoffoodindia.com 24-26th September 2014 Mumbai India 10 o India International Security Expo www.indiasecurityexpo.com 25-28th September 2014 New Delhi , India o Indian Pharma Expo www.indianpharmaexpo.com 11-12th October 2014 New Delhi , India o Indian Handicrafts & Gifts Fair http://epch.in 14-18th October 2014 Delhi NCR, India o The Economic Times AceTech www.etacetech.com October 2014 Mumbai, India o India International Trade Fair www.iitf.in 14-27th of November 2014 New Delhi, India o CPhI India www.cphi.com http://www.cphi.com/india/home 2-4th of December 2014 Mumbai, India o Fine Food India www.finefoodindiaexpo.com 3-5th December 2014 of New Delhi, India o Plastivision India www.plastivision.org 12-16th of December 2014 Mumbai, India o Defexpo India http://defexpoindia.in February 2015 New Delhi, India o Auto Expo India www.autoexpo.in February 2015, New Delhi, India o New Delhi World Book Fair www.newdelhiworldbookfair.gov.in February 2015 New Delhi, India Useful Links The National Portal of India http://india.gov.in The Ministry of External Affairs, Government of India http://mea.gov.in/ India Public Diplomacy www.indiandiplomacy.in Invest India www.investindia.gov.in India In Business http://indiainbusiness.nic.in Incredible India www.incredibleindia.org India Brand Equity Foundation www.ibef.org India Trade Promotion Organisation www.indiatradefair.com EXIM Bank http://eximbankindia.com www.ficci.com/ficci-exhibitions.asp The Confederation of Indian Industry www.cii.in www.assocham.org/events/index.ph p Federation of Indian Chambers of Commerce & Industry www.ficci.com Associated Chambers of Commerce & Industry of India www.assocham.org The Federation of Indian Export Organizations www.fieo.org PHD Chamber of Commerce and Industry www.phdcci.in o Panacea Natural Products Expo www.naturalproductsexpoindia.com February 2015,Mumbai, India o India International Jewelry Show www.iijs-signature.org February 2015,Mumbai, India o Indian Ceramics www.indian-ceramics.com February 2014,Ahmedabad, India o India International Handwoven Fair www.iihfchennai.com March 2015 Chennai, India o Aahar International Food Fair www.aaharinternationalfair.com March 2015 New Delhi, India More information available at: www.indiatradefair.com www.cii.in/CII_Events.aspx www.fieo.org/view_detail.php?lang= 0&id=0,22&evetype=0 http://10times.com/india/tradesho ws 11