Vol 6 Chapter 256: Bold prediction

In the banquet hall of the Taj Mahal Hotel in Mumbai, just after the Diwali holiday, a high-end conference has begun.

The organizer of the conference is the Indian Chamber of Commerce and Industry, which is the largest and oldest chamber of commerce organization in India. It has more than 1,500 corporate members and indirect members of more than 83,000 business district chambers of commerce companies.

The most influential Chamber of Commerce organization in India, its history can be said to be closely integrated with the development history of India.

It not only represents the voice of Indian industry and commerce, but also actively demands the impact on national policies. The publications they publish have always been widely read and studied in depth, and are regarded as policy prescriptions.

The strength of this chamber of commerce can be seen from the lineup of guests. The former richest man in India and the former richest man in the United Kingdom, the founder of Mittal Steel, the world's steel king Mittal, the richest man in India, and the Mu of Reliance Group Keshi Ambani, Radantatta, the head of India’s largest group Tata Group...

And many well-known businessmen and officials came from India’s capital New Delhi, India’s Silicon Valley Bangalore, and Indian industrial and commercial centers such as Chennai and Hyderabad.

It can be said that this is the highest-standard meeting of the Indian business community in the Indian New Year.

The reason why so many business tycoons gather here is naturally to discuss how to deal with the subprime mortgage crisis originating in the United States and its impact on India.

Although the situation in the United States seems to be stable at present, the impact of the subprime mortgage crisis on these Indian business tycoons has been very powerful.

The reason why steel king Mittal is no longer the richest man in Britain and India is because, affected by the subprime mortgage crisis, his company's stock price has plummeted.

Mittal's steel empire mainly comes from large-scale mergers and acquisitions. Since it is a merger, it naturally needs financing.

For example, last year, Mittal completed the first European steel company and the second-largest steel company in the world. The three major steel companies in Europe, Albert Steel of Luxembourg, Azeraria Steel of Spain, and France’s Arcelor, a steel company formed by the merger of Northern Steel United.

The purchase price is as high as 34.3 billion US dollars.

Because of the impact of the subprime mortgage crisis, it is now a time when banks are short of money. Mittal Steel, which has a high debt ratio, is naturally not favored by investors at this time.

But Mukesh Ambani, who succeeded him as the richest man in India, is not much better. Since February this year, his net worth has also shrunk by nearly 20%.

Other wealthy Indians here are also no exception, because the stock market turmoil caused by subprime mortgages has also shrunk their net worth.

But the most uncomfortable thing is that this trend is still in progress, that is, everyone looks at their wealth and decreases day by day, but they can't see the end. For them, there really is no more suffering than this. Thing.

"... Increasing the company's cash reserves is the best way for us to deal with this crisis, thank you everyone!", the second place after La Dantata came to the stage, it seems that the wrinkles on the forehead are more obvious. Tarr concluded his speech.

But he did not immediately get off the stage. The host of the meeting, Singh, President of the Indian Chamber of Commerce and Industry, walked to the microphone, "Next, welcome our special guests, world-renowned entrepreneurs and business experts..."

His welcome speech was immediately interrupted by warm applause. Feng Yiping, who was in the front row of the stage, stood up with a smile and shook hands with Ladantata and Mukesh Ambani next to him, and greeted the guests on the court.

When he stepped onto the stage, Mittal, who was waiting on the stage, smiled and greeted him with a warm hug. The two sides also whispered a few intimately. In the process, the applause from the audience continued. Mittal He even waited until Feng Yiping stood on the podium before stepping down. It can be said that he, the special guest, is the most popular and most concerned guest at this conference.

The main reason is naturally due to the warning issued by Feng Yiping years ago. Like many people in the world, his signed article published in the January issue of "Frontier" magazine has recently been received by the bigwigs of the Indian business community. Looked out again and again.

It is not one or two people who regret not taking it seriously.

At this time when the wealth of almost all of them is shrinking, they most want to hear Feng Yiping, who realized the prediction of this crisis, express his views on this crisis.

Has it passed, or is it just beginning?

"Thank you, thank you for your applause," Feng Yiping stood still behind the microphone, looking at the expectant eyes in the audience.

To the point where he is now, that's it, leisure is only temporary, working one by one is the norm.

"I know what you are most concerned about, and I regret to tell you that on this issue, Mr. Laden, and Mr. Mittal have the same views. The subprime mortgage crisis is far from over. It will bring us negatives. The impact will continue for some time. My personal expectation is that, overall, in the next 08 years, our situation will only be more difficult."

The reason why he agreed to participate in such a meeting was mainly because he was interested in the development of the Indian market, so it was necessary to brush his reputation in front of Indian industrial and commercial representatives.

Hearing what he said, even though they had expected it, many people in the audience still couldn't help showing disappointment.

That is, everyone's wealth has to shrink!

"But we should also see the positive side," Feng Yiping followed.

"The current turbulence in the stock market is mainly caused by the selling of Indian stocks held by hot money from Europe and the United States."

At this time, all companies naturally tend to pull all their funds back and hold them in their hands.

At a time when banks are generally short of money, it's not obvious that cash is king.

"But fundamentally speaking, India’s economic situation is still good. We all know that India’s economy has been growing rapidly recently, attracting a large amount of foreign direct investment. So from this perspective, the Indian stock market, now and in the future, It will still be a safe place to invest,"

"Because from the design point of view, India’s financial system is still a semi-closed system. Normally, this will increase our costs to a certain extent, but in such a crisis, it can guarantee India’s financial The system will not suffer a huge impact like the European and American financial systems. This is naturally a very favorable factor."

The audience began to whisper, which is indeed a good phenomenon.

This means that, relatively speaking, India’s liquidity shortage will not be as severe as in European and American countries. Banks are not short of money, and their financing is relatively easy, and life will naturally be much better.

"...At the same time, we should also see the positive side,"

"At present, because European and American financial institutions are currently suffering from various problems, this will naturally affect the outsourcing industry's orders in this area,"

"But from a positive perspective, European and American companies affected by the subprime mortgage crisis will definitely do everything possible to reduce costs, and the Indian software industry must be the best place for European and American companies to seek offshore services due to the advantages of industrial scale and labor quality. I believe that in the future, we will receive more outsourcing business,"

"...There will be an impact, but it will definitely be smaller than we expected. Time will be cut off, and there will be difficulties, but it will also be temporary,"

"So, I think I can answer the question that everyone is most concerned about. I think that by this time in 2009 at the latest, the subprime mortgage crisis will not be our problem."

The reason why he said so affirmatively is because he clearly remembers that at the end of the year when Little O’Hare first came to power, it was because Wall Street once again issued tens of billions of dollars in bonuses to employees, and it had a relationship with Wall Street. Not a small conflict.

Since Wall Street was able to give out tens of billions of dollars in bonuses at that time~www.wuxiaspot.com~, then, by the end of 2009, their lives were getting better again, and the subprime mortgage crisis must have ended by then.

Including Laden and the others, everyone in the audience couldn't believe it at this time, because at this time, no one dared to say such a thing.

"I have full confidence in the companies of all of you present here, and I have full confidence in the development of India's economy, India..." Feng Yiping's speech was interrupted by the warm applause.

Off the stage, some people even stood up at this moment.

Before the end of 2009, the crisis will end! Such news is naturally worthy of their delight.

Laden and the others looked at Feng Yiping in astonishment, and they really admired if they dared to say such words on such an occasion.

Since you want to brush up your reputation, it is natural to make such a bold statement.

When the applause weakens, Feng Yiping finished his last sentence, “No matter this year, next year or the year after, India will always be the key market for my company’s investment.”

The applause suddenly became stronger...