 |
|
|
Beating global market moods, recent economic indicators clearly again stand out to reinforce India's continued attractiveness as a robust and resilient market.
Industrial production in December 2009 grew at its fastest year-on-year pace in 20 years, registering a 16.8 per cent growth on the back of a 46 per cent increase in consumer durables and a 38.8 per cent growth in capital goods. The month also saw foreign direct investment (FDI) grow 13.2 per cent over the previous month, to touch US$ 1.54 billion.
Significantly, the country's merchandise exports also reached US$ 14.34 billion in January 2010, up 11.5 per cent from US$ 12.86 billion in the same month a year ago. Equally, exports from Special Economic Zones (SEZs) during the April-December 2009 period grew by a robust 127 per cent to over US$ 32.14 billion year-on-year. |
| |
| Warm regards, |
| |
Aparna Dutt Sharma
CEO
India Brand Equity Foundation |
 | |
| |
| |
Focus: Wind Energy |
|
|
|
Gamesa Corporacion Tecnologica, a Spanish company specialising in sustainable energy technologies—particularly the fabrication of wind turbines and setting up of wind farms—has announced the launch of its operations in India with the setting up of a subsidiary, Gamesa Wind Turbines Private Limited. In another development in the wind energy sector, Gujarat Electricity Regulatory Commission (GERC) has raised tariff for procurement of power generated from wind energy sources, in order to encourage wind energy generators to take up new wind power projects in the state.
Meanwhile, "real time wind forecasting systems" will be set up in three Indian states by April 2010, according to the Indian Wind Turbine Manufacturers Association (IWTMA). The implementation of real time wind forecasting is expected to provide a big push for power trading in India. | |
| |
| |
| |
Focus: Luxury Market |
|
|
|
Luxury car markers are seeing better-than-expected demand for their models in the Indian market—Porsche has witnessed an unforeseen demand for its Panamera sedans, while Audi reported that bookings for its sports car, R8, beat expectations. Also, leading producers of luxury watches, Titan Industries, Timex, Timond, HMT and Gitanjali are currently facing a demand which surpasses supply. In the past two years, high-end luxury watch brands have grown by 20-22 per cent, as against 7-8 per cent growth in low-end watches.
The market for golf and related equipment, worth about Rs 100 crore (US$ 21.54 million), has been growing at 25-30 per cent a year over the last three years with international golf gear makers and golf luxury brands lining up to establish their presence in India. | |
| |
| |
| |
Interview: David N Farr, chairman, chief executive officer (CEO) and president, Emerson, on the company's plans for growth in India |
|
|
|
"Emerson has been in India for nearly 30 years now with around 4,200 employees and about $550 million in sales. We have invested over $300 million in India in the last three-four years and will continue to invest $20-25 million every year in the coming years. About 95 per cent of our products manufactured here are consumed locally and this is part of our global strategy of localising production in respective geographies."
"We are constructing a new manufacturing facility on a 13.5-acre land in Ambernath near Mumbai for UPS systems and DC power for the telecom industries and precision cooling for IT and telecom data centres." | [More] |
| |
| |
| |
Interview: William L Atwell, president, CIGNA International, on the group's plans for India |
|
|
|
"CIGNA is better positioned than most global insurers to fashion the right model for India. We have a unique and differentiated business model, including direct distribution expertise to reach the right customers with the right products and programmes. We advocate personal responsibility and strong prevention and wellness resources to help improve health and lower costs. We also believe in total transparency with respect to healthcare costs and quality."
"We are actually no stranger to India. We have been active here for more than three decades, serving customers through our expatriate benefits business. We are now in the process of seeking a joint venture partner to establish a standalone health insurance company in India. Our view for India is long-term and focused on helping the people of India enhance health, well-being and sense of security. We're looking for partners who share the same vision." | [More] |
| |
| |
| |
| Policy/Corporate Briefs |
 |
|
|
|
| FIPB can now clear FDI of up to Rs 1,200 crore |
| In a move that is expected to expedite FDI inflow, the government has allowed the Foreign Investment Promotion Board (FIPB), under the Ministry of Commerce and Industry, to clear FDI proposals of up to Rs 1,200 crore (US$ 258.7 million). |
|
| RBI simplifies ECB procedure |
| In a move that will simplify and speed up ECB transactions, the Reserve Bank of India (RBI) has allowed banks to make changes in the drawdown or repayment schedules as long as the average maturity of the loan remains the same. |
|
| Highest industrial growth recorded in 20 yrs at 16.8% |
| Industrial production grew 16.8 per cent in December 2009 over the previous year, boosted by a 46 per cent increase in consumer durables and a 38.8 per cent growth in capital goods, indicating an expansion in both consumer demand and investments. |
|
| FDI inflows touch US$ 1.54 billion in December 2009 |
| FDI for the month of December 2009, grew to US$ 1.54 billion, an increase of 13.2 per cent over the December 2008 level of US$ 1.36 billion, according to the latest bulletin issued by the Reserve Bank of India (RBI). |
|
| Private equity investments double in January 2010 |
| Amid signs of improving liquidity, private equity investments in India for the month of January 2010 doubled to US$ 386 million, from US$ 191 million in January 2009, according to the financial research body, VCEdge. |
|
| Exports up 11.5% in Jan to $14 bn |
| The country's merchandise exports have reached US$ 14.34 billion in January 2010, up 11.5 per cent from US$ 12.86 billion in the same month a year ago. Among the sectors that posted growth were agricultural products, marine products, gems and jewellery, drugs, petroleum products and plastics. |
|
| SEZ exports rise by 127 per cent in Apr-Dec 2009 |
| Exports from SEZs grew by 127 per cent in the first nine months of 2009-10 to over US$ 32.53 billion compared to US$ 14.28 billion in the same period in the previous year, according to Dr L B Singhal, Director-General, Export Promotion Council for Export-Oriented Units and SEZs. |
|
| India, UK agree to up FDI inflows |
| India and the United Kingdom have agreed to increase FDI flows between the two nations and have decided to increase bilateral co-operation in the areas of manufacturing, innovation and green technologies. |
|
| Ford India starts new plant in Chennai |
| Automobile manufacturer, Ford India, has commenced commercial production of its compact car, Figo and diesel and petrol engines at a new factory in Chennai. Michael Boneham, President and Managing Director, Ford India, has said that the Figo would be built exclusively in India and exported to South Africa and countries in South East Asia. |
| |
|
|
 |
| |
|
