Longtail International helps Indian companies save trouble, time and money when going global
Online, June 11, 2010 (Newswire.com) - Leading international publisher launches comprehensive guide to help Indian entrepreneurs go global using IFCs (International Financial Centres)
Mumbai, June 11th, 2010: As another reinforcement of the India growth story, one of the UK's best known publishers, Longtail International, launched its first comprehensive, annual guide for Indian entrepreneurs and investors today. 'A Guide to International Financial Centres: What Indian Investors Need to Know' is an unique and indispensable resource for Indian businesses and investors with aspirations overseas. Written in plain English, it demystifies the myriad opportunities now available to Indians and pulls together in one book the opportunities to make cost and tax effective investments around the world. The guide includes prominent contributions from internationally renowned Indian legal, accountancy and tax advisors such as Zia Mody, Dinesh Kanabar and Nishith Desai as well as a plethora of up-to-date advice from individual IFCs.
"With India on the threshold of a new economic and financial relationship with its neighbours in the East and West, there is a new generation of highly talented Indian companies and entrepreneurs with the potential to be world beaters but without the know-how essential to investing abroad quickly and efficiently," said James Roper-Piesse, Publisher and Editor-in-Chief, Longtail International UK. "Many Indian companies are rushing into other markets without proper research and advice and it's ending up being very costly" he added.
Other contributors to the guide such as internationally renowned Kiran Mazumdar-Shaw, CEO and now billionaire founder of Biocon, give their input as to the 'dos and don'ts' of successful foreign investment. Kiran herself says: "Indian companies in the past have made the mistake of acquiring a company in a distant part of the world and then trying to populate it with Indian managers. And not necessarily Indian international managers, but Indian managers from head office. And that's been a bit of a failure, to say the least. She adds that Mukesh Ambani recently said to her that too many 'old timers' in Indian companies won't relinquish control to younger managers more experienced in doing business internationally.
Indeed, well-known Indian advisors in the book warn that Indian businesspeople often "Shoot without aiming", "Don't plan for the future" and ignore the problems of "cultural mismatches" as they tend to keep an "Indian mindset" when outside India. Not getting or following correct advice can mean the Indian entrepreneur may suffer punitive tax both outside India and when returning with the rewards of his success.
Over the past 40 years, IFCs have materially changed the ways in which many companies and individuals conduct their businesses. With increasing regulations, tax rates and red tape in nation states (such as the US), and doubts as to the stability and security of certain parts of the world (South America, for example), IFCs offer higher security and cost and tax efficiencies.
Indian companies have used Mauritius as a base for outward investment for many years but astute directors are starting to use a variety of other IFCs. Deloitte in Luxembourg made a presentation on the tiny nation state - which is the second largest investment fund centre in the world with over 2000 Billion euros net of funds under management. The recent $2 billion acquisition of Luxembourg's KBC Groep private bank by Hinduja is a timely example of the importance of this dynamic financial centre.
####
About Longtail International
Longtail International is part of the successful Longtail Group based in Kensington, London with offices in Bejing where it publishes business and student titles in Mandarin with its prestigious partner, Peking University Press.
Longtail was formed to explain, unravel and demystify complex areas of law, business, economics and finance. Its "All you need to know about the City (of London)" is in the top 1000-selling books in the UK and used by the world's most famous banks and law firms to train their staff.
Longtail International's 2008 book, 'A Guide to International Financial Centres: What Chinese Investors Need to Know', featuring contributions from more than 40 top international firms from 20 international financial centres worldwide, is an indispensable guide for the Chinese businessperson or professional. The book was the first of its kind in Mandarin and was on the desk of 1000s of influential Chinese businesspeople, government officials and professionals.
About Deloitte
"Deloitte" is the brand under which approximately 169,000 dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management and tax services to selected clients. These firms are members of Deloitte Touche Tohmatsu ("DTT"), a Swiss Verein. Each member firm provides services in a particular geographic area and is subject to the laws and professional regulations of the particular country or countries in which it operates.
For further information, please contact:
James Roper-Piesse
Longtail International
Tel : +44 207 9381975 Mob: +44 7768448906
Sheenagh Nixon
Longtail International
Tel : +44 207 9381975 Mob: +44 7747483760
Henri Prijot
Deloitte S.A.
Tel: +352 451 452 878 Mob: +352 661 451 462
Harsh Kankeshwar
LINOPINION - LOWE LINTAS Public Relations
Tel: +91 22 2499 7704 Mob: +91 9920775032