Gulf emerging as big market for Indian medical tourism

India's growing reputation as a major medical tourism destination is attracting more and more visitors from Gulf countries. And many travel agents are now offering packages combining treatment with a vacation. The Gulf is one of the most important markets for India's tourism industry. In the last two years, there has been a significant growth in the number of visitors from this region going to India for medical tourism.

He said that though the West has been the traditional medical tourism destination for Gulf citizens, the trend changed after the 9/11 terror attacks and with the Indian government launching the Incredible India campaign, the total concept of India in the region has changed.. They have also realised that top hospitals in India like Apollo, Max or the J J Hospital in Mumbai can carry out major operations at a fraction of the cost in the West.

While a heart surgery costs $30,000 in the US, it can be done for just around $6,000 in India.
A bone marrow transplantation comes for just $26,000 in India compared to $250,000 in the US. Replacement of a heart valve in India costs less than half of what it costs in the West.

In fact, travel agents here are making innovative packages combining medical treatment and pleasure trips. Such packages usually include flights, transfers, hotels, medical treatment followed by a post-operative vacation.

Though exact figures were not available to show the rise in the number of visitors to India from here for medical tourism, the overall figures show a growing trend in the number of tourists from the Gulf to India. In 2007, the Indian missions in the UAE issued a total of 60,814 visas compared to 50,076 in 2006. Similarly, the Indian embassy in Oman issued 21,843 visas in 2007 as against 18,476 the previous year.

Overall, Indian missions in 12 Gulf and Middle East nations issued 172,689 visas in 2007 compared to 149,568 in 2006, a rise of 16 percent. While Arab tourists like going to Mumbai, Goa and the golden triangle of north India - Delhi-Agra-Jaipur - a majority of expatriate Indians in the region go to south Indian tourist destinations.A large chunk of the 5.5 million-strong expatriate Indian community in the Gulf come from south India.
To exploit the full potential of the Gulf market, India's tourism authorities are now stepping up the Incredible India campaign in this region.

5 Keys to Increasing Your Pay

It could be that managers and workers have a different take on what it means to be a top performer, and so they disagree on who should get the corporate spoils.

Most workers think that if they know what their job is and do it well, hitting all their goals on time and within budget, then they're doing a good job and deserve to have raises and bonuses heaped upon them. That would be true in a pure meritocracy. But in the real world, the politics of compensation are not that simple. Here are five keys to increasing your salary and benefits:

1. The boss's priorities rule

From the boss's perch, the biggest raises and plumpest perks go to the people he values the most and doesn't want to lose. These are the people who help him to get things done, meet his goals, and generally look good. In short, your performance and the raise it garners are less about you and all about him.

"Executives value people who fit in well with them and with the team, who understand the culture and can help them get the results they want. So find out what's on the top of your boss's mind, and drive your work and your team's work around those things rather than the other things on your agenda that are lower priority for him."

2. You are as good as you say you are

Once you've got your priorities straight, make sure your boss, and anyone else who matters, knows about the great work you're doing for the company. And don't wait for those annual performance reviews to let them know. It's the informal interaction that the boss takes in all year long that creates an impression of who you are and how you fit into his work.

So shoot him e-mails to ask advice or let him know about progress you're making on the work he most values. When you get an e-mail from someone else noting your success or thanking you for help on this work, forward it on.

Be able to speak up at meetings in an informed way about the projects closest to the boss's heart. And when you run into your boss in the elevator or at the water cooler and he asks how it's going, skip the polite, generic small talk. Instead, opt for an upbeat sentence or two that relates how excited you are about work coming up or just completed on one of those coveted projects.

3. Know what you want

Compensation is more than just salary. So when it comes time for that sit-down, know what you want and have the data to support it. Know what others in your field receive in terms of pay and other perks, and what the salary range is for your job at your company. Then think about what is important to you. Do you most want a raise, a better bonus, more stock, or something else?

"Talk to others in your organization who know your boss and ask for feedback on your pitch to him.Find out what his points of resistance are going to be so you're prepared to respond to them."

4. Have a plan B

If the raise you want simply isn't going to happen, don't go away empty-handed. In its stead, "ask for more training, a trip to an important conference, or Friday mornings off—whatever has value for you."

And suggest a plan for discussing it again in a few months. "No doesn't always mean no. It can mean not right now.So zero in on why the boss is handing you that "No." If it's not in the budget, let him know what you would like your salary to be when he sets a new budget. If he wants to see you hit a certain milestone before bumping up your pay, then agree to a plan and time frame for getting there.

5. Know when to walk away

Fourteen percent of people who are thinking of leaving their company this year say the desire for better pay is the reason.. That's twice the number of people who say they are staying because they expect a good raise or bonus.

But the time can come where you just need more money. Or it can become clear that the boss is never going to see you and your value to the team the way you want him to. When that happens, it's not only OK to seek greener pastures; it's the savvy thing to do. Even within the same company, starting over with a new boss gives you a clean slate for establishing who you are and negotiating what you're worth.

U.S.News & World Report

Darling's of Dalal Street in Despair

Indian investoer in the Indian equity market might as well agree with Sir John Templeton, the legendary US-born stock investor, given the current gloom that pervades Dalal Street. Before the bearish sentiment could set in, a large section of experts was busy justifying the boom in Indian equities - a boom that saw the benchmark indices earn nearly 50% returns last year. A major part of their reasoning was based on the paradigm that in India, things were different then, compared to the early '90s.

However, just as in times of plenty the rise tends to be stratospheric, the fall during lean times is sharp. While many experts have come up with a number of theories regarding well-established stocks, little or no attention has been paid to the darlings of the bourses last year - initial public offers (IPOs).

How have companies, which listed since the beginning of January '07, fared in the recent carnage witnessed on Dalal Street? Were they fairly priced or did they just take advantage of a booming market to claim outsized premiums? In order to answer these questions, we decided to engage in a detailed study of all recent IPOs.

In the 12 months ended March '08 (FY08), 84 companies were listed on the BSE, raising Rs 41,810 crore. We are, however, limiting our discussion to the IPOs that were listed in the calendar year '07. This gives enough room for the scrips of listed companies to stabilise their movement on the stock exchanges.

In '07, as many as 101 companies got listed on the bourses altogether, raising Rs 36,692 crore. This is phenomenal in all respects. The primary section of the Indian equity market has not seen such a high number of listings at least in the past seven years. Further, the amount of money raised in a single year was also the highest in '07.

Construction, inclusive of real estate, was the buzzing sector in terms of number of listed companies and the money they raised. With 16 companies collecting over Rs 15,000 crore from the primary market, this sector topped the charts (see adjacent table). The amount of money raised by the sector was largely skewed due to DLF's IPO, which raised more than half of the sum in May '07. Oil & gas and power were the other sectors that raised relatively large sums from the market.

IT was another sector that saw a large number of IPOs - as many as 14 - but of smaller ticket size. The difference this time round was that a majority of the companies were niche players with India-centric business models, against the pure IT services companies that had dominated the stage in previous years. Investors also seemed to welcome the change, as many of the issues of such niche companies were oversubscribed multiple times.

The change in the taste of investors is a fall-out of increasing macro-economic challenges for the plain-vanilla IT companies. The performance of these IPOs has been akin to a roller-coaster ride for investors, given that the time span between January '07 and April '08 encompassed a strong boom and an equally steep fall in the secondary equity market.

No wonder then that the market capitalisation of all the 101 companies as on April 7, '08 was just about a percent higher than their m-cap at the time of listing.

This, of course, takes into account the difference in the duration of returns. The difference arises because even though the date of calculation of returns - which is April 7, '08 - is fixed, the date of listing may differ from stock to stock. Nevertheless, this gives an insight into the performance of new listings.

While a majority of the companies were listed at a premium, not all of them could hold on to the gains. Out of 101 listed companies, 75 earned returns on listing. However, only 43 were able to retain their premium valuations as of the second week of April. This can be attributed to a steep decline in overall valuations following the market crash.

However, it needs to be noted that there were a handful of companies that were able to earn handsome returns for investors even in the post-crash scenario. There were 25 companies that were trading at more than 50% premium to their respective offer price as on April 7,'08. Further, the list also had 15 companies that saw a two-fold jump in their market cap, and five companies which saw a four-fold rise in m-cap. Hyderabad-based MIC Electronics topped the list of gainers. The stock is currently quoting at more than four times its offer price. It was followed by SEL Manufacturing, a Ludhiana-based cloth and garment maker and Allied Digital, a Mumbai-based IT infrastructure company.

The list of companies that eroded investors' wealth was dominated by textile companies. Out of 10 textile companies that were listed in '07, seven were trading below their offer price as on April 7. Moreover, three textile companies figured in the list of five biggest value destroyers.

Broadcast Initiatives, a Mumbai-based broadcasting company, topped the list. It lost over three-fourths of its value in a span of one year. For retail investors who have put their money in these IPOs over the past one year, the situation has changed significantly. Even though these IPOs rode the boom in the market, the recent market crash has put a question mark on their future performance. Hope these IPO's will generate returns in the long term.

ET