:00:00. > :00:00.referendum on the country 's independence. Full of Lodge of it
:00:00. > :00:00.has become the senior Conservative to call for Maria Miller to step
:00:00. > :00:17.down. Now time for Asia Business Report.
:00:18. > :00:23.Elections in India. What economic changes will be installed for the 's
:00:24. > :00:24.biggest democracy? We look at the best strategies for Chinese
:00:25. > :00:41.companies looking to grow in Europe. Thank you for watching. It will be a
:00:42. > :00:44.busy few weeks in India. The first polling centres have just opened and
:00:45. > :00:48.voters in the world 's biggest democracy will be casting their
:00:49. > :00:52.ballots. The election will last for five weeks with more than 800
:00:53. > :00:57.million people having their say. Our team in India took to the streets
:00:58. > :01:00.and asked several residents about their wish list and the ways they
:01:01. > :01:10.want the new government to fix the economy. People are suffering a
:01:11. > :01:15.lot, the economy is shattered. I want economic improvement.
:01:16. > :01:23.Unemployment. I have been unemployed for a year now and it is very
:01:24. > :01:29.difficult to get a job. The economy is the biggest issue and the falling
:01:30. > :01:36.value of the currency. The purchase power is shrinking. Day by day it is
:01:37. > :01:45.shrinking. For people with limited resources like me, who are retired
:01:46. > :01:52.and have a fixed income from bank interest, it is very hard to make
:01:53. > :02:01.ends meet. The rise in prices is affecting everyone. We are not able
:02:02. > :02:05.to afford things. If the price of diesel rises, everything rises. We
:02:06. > :02:11.require somebody in power who will see to it that the price comes
:02:12. > :02:18.down. For more that's crossed to Delhi and our correspondent. This is
:02:19. > :02:24.a massive political exercise. Absolutely. It is the world 's
:02:25. > :02:29.biggest democratic exercise and there are 814 million voters. It is
:02:30. > :02:35.a nine phase ballot which goes on for nearly one month. I spoke to the
:02:36. > :02:39.election commission who are saying that it is a logistical nightmare.
:02:40. > :02:45.While they have these high security electronic voting machines with lots
:02:46. > :02:52.of inbuilt security measures, it is high end stuff, but she carried
:02:53. > :02:57.across the country they submit camels and elephants because there
:02:58. > :03:01.is an election commission rule which says that no voter should have to go
:03:02. > :03:04.more than two kilometres to cast his ballot. They have to get the voting
:03:05. > :03:06.machines out there across the country to the 930,000 polling
:03:07. > :03:13.booths. It a massive exercise. Very complex. At that of the agenda for
:03:14. > :03:19.the political parties is to fix the economy. What are the solution is to
:03:20. > :03:27.be able to fix high inflation and low growth? The economy is the top
:03:28. > :03:34.of the agenda for both parties, the BJP and the Congress party. There
:03:35. > :03:38.are a host of smaller regional parties which will hold the key to
:03:39. > :03:42.selection. If no single party gets a majority than the smaller parties
:03:43. > :03:49.will hold the key about what decisions are taken at the centre.
:03:50. > :03:53.High inflation, slowing growth and interestingly both parties have
:03:54. > :04:02.diverse views on this. Congress thinks the way to go forward is to
:04:03. > :04:07.increase social spending. BJP are talking about increasing
:04:08. > :04:10.manufacturing growth, expanding economic activity, boosting
:04:11. > :04:16.infrastructure growth because India needs to create millions of jobs
:04:17. > :04:20.and, while 5% for a growth rate looks good on paper, it is not good
:04:21. > :04:32.enough India to create the kind of jobs it needs. Thank you so much for
:04:33. > :04:37.the update. Staying with India, a merger is currently under way in the
:04:38. > :04:45.pharmaceuticals industry. Sun pharmaceuticals has agreed to buy a
:04:46. > :04:50.division of Japan's major pharmaceutical company. It is valued
:04:51. > :04:57.at $4 billion. The merged company will be the largest pharmaceutical
:04:58. > :05:03.firm in India. A merger valued at $55 billion is under way Europe
:05:04. > :05:10.between two of the world 's largest cement manufacturers. According to
:05:11. > :05:15.reports, the boards of both companies met over the weekend and
:05:16. > :05:18.approve the merger proposal. An official vindication is expected
:05:19. > :05:24.today which will address possible competition concerns that would
:05:25. > :05:29.arise from the alliance. US trade Representative, Michael Foreman,
:05:30. > :05:33.will be in Japan with talks which Washington hopes will break the
:05:34. > :05:37.summit of market access for US farm groups and automakers. The trade
:05:38. > :05:43.deal with 12 countries including the US and Japan has been held up since
:05:44. > :05:50.last year as the US has been trying to persuade Japan to lower its trade
:05:51. > :05:54.barriers. The talks take place weeks before Barack Obama is due to visit
:05:55. > :05:59.Japan. University students have been occupying parliament in Taiwan for
:06:00. > :06:06.over three weeks in protest over a trade agreement with China. The deal
:06:07. > :06:13.would give companies from the two countries greater access to each
:06:14. > :06:16.other's services sector. There are many tents outside the Parliament
:06:17. > :06:23.building behind me and this is the 20th day of the students nearly five
:06:24. > :06:26.week `` three`week occupation of Parliament. The students are inside
:06:27. > :06:33.and outside waking up at having breakfast. This issue has deeply
:06:34. > :06:37.divided Taiwanese society. The latest survey shows that 44% of the
:06:38. > :06:41.people here believe that the trade agreement would benefit Taiwan's
:06:42. > :06:51.economy. But an almost equal percentage, 38%, believe it will
:06:52. > :06:57.not. The government has insisted that the agreement is crucial to
:06:58. > :07:01.open up markets. Taiwanese banks, travel industry, and e`commerce
:07:02. > :07:08.companies can be investing more freely in the Chinese services
:07:09. > :07:15.sector. But the 38% of people who oppose the agreement are represented
:07:16. > :07:19.here. They say it will only help big businesses and hurt small businesses
:07:20. > :07:25.and local owners livelihoods. One of the student leaders told me that
:07:26. > :07:31.even worse they fear the agreement could give China to achieve Luhansk
:07:32. > :07:36.over Taiwan's economy and society. TRANSLATION: Signing with China
:07:37. > :07:41.raises worries. It is no longer just an economy and trade agreement. It
:07:42. > :07:46.has a big political impact. This impact is on many levels. For
:07:47. > :07:52.example, the opening of advertising and telecoms have a big damage on
:07:53. > :07:57.national security, freedom of speech, and media freedom. Here's a
:07:58. > :08:10.question. Do you recognise the following brands? These are all
:08:11. > :08:14.well`known Chinese companies which are aiming to go global. What they
:08:15. > :08:22.need to do to expand overseas? Earlier I spoke to the dean of the
:08:23. > :08:33.China Europe business School and asked him about this. A company
:08:34. > :08:36.fully integrated in the world economy is important. Others are
:08:37. > :08:48.meant for products being exported out of China. Why you saying that
:08:49. > :08:53.Huawei is the only one to have done that? It takes time. Western
:08:54. > :09:04.companies discovered many years ago that it is not possible over a sharp
:09:05. > :09:08.period. What about Lenovo? They have acquired many businesses, why have
:09:09. > :09:14.they not made it yet? The overwhelming percentage of their
:09:15. > :09:19.personnel are still working in China, not overseas. It is selling
:09:20. > :09:27.into the world market but it is not integrated into the world market.
:09:28. > :09:31.What would it take for a Chinese brand beyond the likes of Huawei to
:09:32. > :09:34.integrate themselves into the international market? To do to
:09:35. > :09:43.overhaul their business models to succeed in markets? That would be a
:09:44. > :09:46.good point. You have to spread yourself across borders with your
:09:47. > :09:51.own people and corporate culture. The Bransdon follows, not the other
:09:52. > :10:03.way around. Before we go, a quick look at the markets.
:10:04. > :10:09.Stocks are down across the various markets but solid US jobs data have
:10:10. > :10:19.kept the losses smaller than they might have been. Steep losses from
:10:20. > :10:29.technology shares have given the NASDAQ a bad day. Thank you for
:10:30. > :10:32.investing your time with us. Sport Today is next.