CoreNet Global Member Profile - Ashok Kumar
Ashok Kumar Shares Insights, Plans for Upcoming India Global Summit
India Offers Talent, Proximity to Markets for Growing Companies

CoreNet Global, Feb 6, 2004

India, site of the March 22 - 24 CoreNet Global Summit in Mumbai, offers new operating alternatives to a growing number of global corporations, and CoreNet Global member Ashok Kumar is one of the biggest boosters of this emerging economic giant.

"Most of the top 500 multinational companies already have a presence in India," explains Kumar, Principal and Managing Director for Gennex-CresaPartners India in Mumbai (formerly Bombay). Kumar also is founder and Chairman of the CoreNet Global India Chapter and Chairman of the India Global Summit Host Committee.

A recent Goldman Sachs report predicts India will have the third-largest economy internationally by 2050 and that by 2010 its growth could outpace China's. "India has the potential to show the fastest growth over the next 30 and 50 years. Growth could be higher than five percent over the next 30 years and close to five percent as late as 2050 if development proceeds successfully," states the company's October 1, 2003, report. "This will be driven largely by the demographic dividend India is likely to reap with a sharp surge in its working-age population."

"India provides an ideal outsourcing environment for all growing companies," adds Kumar about this growing trend of outsourcing IT and other high-tech jobs to countries with lower cost structures, making it what he calls "an outsourcing heaven." This practice, also known as of offshoring, enables firms to send professional and support services overseas for more cost-effective delivery while remaining under the direct control of the company.

"The low cost of highly educated labor, an abundance of property, improving infrastructure, and government incentives are driving multinationals to India," Kumar recently remarked to Real Estate Forum magazine.

India Global Summit Explores Outsourcing Trends

A close-up view of global outsourcing trends will be presented at the upcoming CoreNet Global India Summit to be held in Mumbai from March 22-24. The summit promises to offer excellent business and networking opportunities. The program is designed to help real estate professionals advance their companies and careers.

Summit speakers and presenters will address the theme of Enabling Work in an Integrated World: Challenges & Opportunities in Asia, exploring the rapidly evolving offshoring strategies that many global companies now are deploying.

"As the financial and entertainment capital of the country, Mumbai offers participants valuable networking and learning opportunities with key Indian business leaders," says Kumar, who has planned special events for attendees in is role as Chairman of the India Summit Host Committee.

India's Business Climate

During the recent Atlanta Global Summit, Kumar shared from the podium insightful details about the Mumbai and India business climates.

"The Indian economy is one of the world's fastest growing economies at eight percent of GDP growth. Business confidence is at its peak and the service and manufacturing sector is leading the wave through IT, ITES, Pharmacy, Healthcare and Entertainment," said Kumar.

"India has emerged as the leading location for the outsourcing because India offers significant cost savings of up to 70 percent on labor and other expenses compared to other parts of the world," he added.

CRESA Provides Specialized Service

Kumar heads CRESA's recently opened office in Mumbia, which is designed to tap the potential of India's commercial real estate market due to offshore job outsourcing by U.S. corporations. The office covers the six major markets of Bangalore, Chennai, Delhi, Hyderabad, Mumbai and Pune.

CRESA is an international corporate real estate advisory firm exclusively serving space users. CresaPartners specializes in tenant representation, portfolio administration, project management and capital markets expertise. Worldwide, the firm provides service in 35 countries and more than 145 cities, including 45 North American CresaPartners locations.

Prior to joining CRESA last year, Kumar served as Director of Insignia operations in India. With more than 20 years of experience, Kumar launched his career with Citibank Mortgage Banking. His global real estate expertise encompasses all experience with all products, including valuation, consulting, research, investments and transactions.

India Chapter Grows

Kumar became involved with CoreNet Global in 1999 after attending the Beijing World Congress. He formed the India Chapter in May 2001 with 10 members. Today the chapter has more than 45 members, representing 100 percent growth each year.

"We plan to continue this aggressive growth this year too," says Kumar, who was a member of IDRC for four years.

Commercial Real Estate Challenges

Commercial real estate is facing exciting challenges, as the global business environment is looking positive after the long recession, Kumar says. "Commercial real estate professionals need to provide a responsive and productive environment that enables work in this emerging, integrated world."

"The emerging outsourcing interest across the globe is influencing the business strategy of most of the major national corporations because of its total value proposition," he adds. "The transition towards the integrated world is more evident in India. The business process of outsourcing and the site selections in emerging consumer market are challenging traditional corporate real estate strategies and delivery models."

"The greatest single challenge I face today in my work is human resources," Kumar explains, "because this business is all about people and relationships."

CoreNet Global Provides Invaluable Opportunities

"CoreNet Global provides invaluable opportunities to learn about best business practices from other commercial real estate professionals," Kumar says. "In addition to offering the best networking and business opportunities, I use CoreNet Global to achieve the best of the benchmark and work-standards through enterprise partnership and working together with business unit leaders."

"I have gained a lot from IDRC and now CoreNet Global," he adds. "The association has helped me to learn and achieve greater value for the company's customers through adopting innovative practices. Integration has made it broader and enabled representation from all stakeholders of real estate."

"The best way CoreNet Global can help me in the future is through providing the best networking and learning opportunities," concludes Kumar.