India vs. China: The eight Indian companies are part of S&P’s list of 300 mid-size companies across 37 countries in the latest S&P Global Challengers List. India ranks seventh in terms of the companies per country that figure in the list. In contrast, China has four companies on the list.
An innovative nation: In a new study, India has emerged as the second best place for business innovation after the US. In a survey of 485 senior executives worldwide carried out by Hong Kong-based Economist Intelligence Unit, Japan has emerged as the world’s most innovative nation in terms of business practices, followed by Switzerland, US and Sweden. India has been ranked at 58th position, ahead of China’s 59th position in a ranking of 82 economies, based on their level of innovation during 2002-06. But the report also concludes that India will give away its lead over China as an innovative country in the next five years.
IT excels: IT services major Wipro Technologies said it has bagged the ‘SAP Pinnacle Award’ in the area of Software Solutions Leadership.
Industrial Manufacturing CorridorAccording to India and Japan, the DMIC (Delhi Mumbai Industrial Corridor) project-to be launched in 2008 and completed by 2015-would entail an investment of $45-50 billion.
Corporate India helps rural poverty alleviation: HLL will aim to reach 600 million consumers in five-lakh villages through one-lakh entrepreneurs by 2010.
India matters for Airbus and Boeing: Rapidly expanding Indian carriers have ordered close to $40 billion worth of big jets over the past two years. So far, Airbus, has bagged 295 orders from Indian customers since January 2005, vs. 138 for Boeing. The value of Boeing’s order book is close to $20 billion at list prices, while it is roughly $22 billion for Airbus.
Chindia ahead of other BRIC members: According to a survey of 350 international, mainly expatriate investors, mostly belonging to the US, UK and continental Europe by Luxembourg-based broker Internaxx, Chindia make a more compelling proposition than the first half of the BRICs acronym. The survey found that 42 per cent of international investors felt positive about China and 32 per cent about India, while only five and six per cent respectively felt positive about Brazil and Russia.
White Revolution continues: Indian dairy industry will reach Rs5.20 lakh crore by 2011. “Out of the anticipated output of 120 million tonnes, the share of liquid milk will be 97.5 million tonnes, while the remaining 22.5 million tonnes will get converted into milk products.”
Manufacturing Sector Moving in top gear: India’s manufacturing sector registered the highest growth in over a decade at 14.1 per cent in March 2007, up from 10.1 per cent in the same month of the previous year, the commerce and industry ministry said Tuesday. The growth rate of the sector has doubled since 2002-03 from six per cent to 12.3 per cent in 2006-07.
Sky-High Ambitions of Indian Outsourcers: Tata Consultancy Services (TCS) has worked on projects for GE Aviation involving digitally testing the configuration of jet designs and is currently designing the business class portion of a plane for an undisclosed aviation customer. Tata Technologies hopes to leverage the expertise of its parent company to reduce the cost and weight of airline components for international customers. Infosys has designed part of the Airbus A380 super jumbo jet, which is now undergoing test flights. Last year it set up an engineering center to team with Spirit Aerosystems (SPR), a major supplier of structures including fuselage, nose sections, and floor beams.
India’s Global raid continues: Billionaire Vijay Mallya’s distillery group agreed to buy Scottish liquor maker Whyte & Mackay for 595 million pounds ($1.18 billion, Rs4, 700 crore), extending a record year for international takeovers by Indian companies. Mallya formed United Spirits by combining McDowell & Co, Shaw Wallace & Co, Herbertsons and other liquor makers of the group. The company, with 145 brands and 69 factories, became the world’s third largest spirits company after Diageo and Pernod Ricard. Today’s acquisition of Whyte & Mackay promises to enhance Mallaya’s position in the Forbes’ list of billionaires, which placed him 746th in 2006.
Mumbai’s famed diamond district of opera house becoming a global diamond-trading hub: Indians are becoming integrated global players, involved in the entire supply chain right from sourcing of the gems to retailing finished jewellery. The recent spate of acquisitions by the big players in the business of reputed US brands, and the removal of import duty on polished diamonds are giving big push in the direction of creating a global hub in India. India is already the largest manufacturer of cut and polished diamonds with 10 out of every 11 diamonds being processed here. Diamond and jewellery exports reached $16.6 billion last year, second only to IT-related exports. With London and Antwerp slowly declining in importance, India could soon become the manufacturing as well as trading hub.
India exports cars: The export of passenger cars from India is expected to touch one million by 2010, a shade lower than the last financial year’s total domestic sales of 1.3 million, and nearly a third of the projected production of three million. Last year, the country exported only 198,478 cars – less than 13 per cent of the 1,544,850 produced.
India Attractting global manufacturers: Singapore-based $2.1b IT component major eSys Technologies, with worldwide back office operations is investing Rs 1,000 cr in India. This includes a Rs 250 crore investment in setting up a PC manufacturing plant at Nalagarh, Himachal Pradesh with an annual capacity of 1.2 million units and another Rs 100 crore in global back-office operations in Chandigarh.
India as R&D hub
1.The world’s largest manufacturer of healthcare products, Johnson & Johnson, is making India a global hub of its research and development as it looks to ramp up its pharmaceutical business in the country. The company is investing $17.5 million in its analytical and pharmaceutical development centre in Mumbai, which conducts early-stage drug development. In a few months, the number of professionals working there will rise from 65 to 150.
2.Korean consumer electronics major Samsung would hire about 700 R&D software engineers for its centre at Noida. “Currently, we employ 300 people at Samsung India Software Centre (SISC) and would take the number up to 400 by this year end, eventually we hope to touch 1,000 in the next three years,” Samsung India Electronics Vice President Software Centre Vikram Vij told PTI.
3.Blackberry-maker Research In Motion (RIM) will soon set up its R&D and customer support base in India. The company could in fact look at turning India into a hub for its customer support services eventually.
4.Indian expatriates returning to work on R&D: According to the Society of Indian Automobile Manufacturers (SIAM), there are already over 250 Indian expatriates who have returned to work on R&D in domestic automobile companies Mahindra & Mahindra, Ashok Leyland, Tata Motors and Hindustan Motors. SIAM predicts that their numbers will double in two years. With investments of over Rs 100,000 crore lined up in the Indian automobile industry, and European and US car majors making an aggressive push into India, Indian car companies have begun to understand the significance of R&D.
Textile sector invests tons: India’s textile sector is expected to attract investment of Rs 150,600 crore in the next five years and will achieve the export target of Rs 225,665 crore (55 billion dollars) by 2012. The industry that is growing by 9-10 per cent would increase to 16 per cent in the coming years.
India getting benchmarked: Nissan Motor Co, Japan’s third-largest automaker, is designing a $2,500 car to compete in India with the low-cost model planned by Tata Motors, Chief Executive Officer Carlos Ghosn said. “We are working on how we can make a car for $2,500,” Ghosn told reporters today at a dinner in Versailles, France. A Nissan advance engineering group is doing the study,” he said.
Is not India bubbling?
How competitive is India? </