It appears manufacturing in India is moving fast. Some segments are doing wonderfully well. Here are some stories from the recent weeks:
Manufacturing beats IT, pharma in returns: The manufacturing sector was the top performer in creating shareholders value, according to a study by the Boston Consulting Group (BCG) and the Confederation of Indian Industry (CII). Three manufacturing sectors (engineering and construction, industrial commodities and materials and commodities) created more value for its shareholders in last five years than IT or pharmaceutical companies.
Tata Motors plans fresh wheels: Tata Motors is readying a slew of launches in the commercial vehicle (CV) segment during 2008 to counter increasing competition and also revive demand.
GM bets on R&D to win India race: The GM Technical Centre in Bangalore is developing and designing a number of new cars in the small, medium, sedan and sports utility vehicle (SUV) categories for achieving a 10% marketshare in the passenger car segment by 2010.
Hyundai to set up R&D centre in Hyderabad: Hyundai Motor Corporation is investing $40 million to set up its fifth R&D facility at Madhapur in Hyderabad. As per the company, the designs from the Hyderabad unit will be used in our global operations.
L&T eyeing $1 bn shipbuilding orders: India’s largest engineering and construction firm Larsen & Toubro Ltd (L&T) is negotiating with global shipping fleet owners to build ships worth over $1 billion (Rs3,930 crore).
Samsung India to invest $100 mn: Electronics major Samsung India will invest $100 million in four years at its new manufacturing facility at Sriperumbudur near Chennai. Investment of $30 million in the first year will be to manufacture colour televisions for the domestic and export markets.
<b>Mitsui to set up manufacturing unit in Rajasthan: Mitsui Prime Advanced Composites India is setting up a manufacturing facility for polypropylene compounded resin, with support from the Rajasthan State Industrial Development & Investment Corporation (RIICO) at Japanese Investment Park, Neemrana – Phase III, in Rajasthan.
<b>Cummins on expansion mode: Cummins, the global engine player, is acquiring 300 acres in Phaltan region in Maharashtra to expand its operations in India. Tata Cummins Ltd (a 50:50% joint venture between Tata Motors and Cummins) and Cummins Turbo Technologies (CTT) would first establish their projects in this newly acquired area.
Apache plans to invest Rs 500 cr more in Nellore project: Apache Footwear Ltd, an authorised manufacturer of Adidas Sports shoes, is planning to bring in the second round of investment into its existing sector-specific SEZ for footwear near Tada in Nellore.
Tatas, M&M close in on Ford brands: Ford Motor Co, the owner of the two brands-Jaguar and Land Rover, is believed to have narrowed the auction to three bids. Apart from the Tatas and Mahindra & Mahindra, One Equity Partners, a buyout firm funded by US investment bank JP Morgan, is on the final leg of the race.
SKF India targets Rs 3,000cr biz in 4 yrs: SKF India, India’s leading supplier of bearings for industrial and automotive applications, is aiming to more than double its revenue in four years with the company aggressively pursuing its expansion strategies in the country. The company is aiming for a business in excess of Rs 3,000 crore, with growth of more than 20% every year.
Vestas RRB enters North American wind energy market</b>: Wind turbine manufacturer Vestas RRB India Ltd expects at least 15% of its revenue to come from exports. Vestas has received an order to export two 600-KW turbines to Canada worth $2 million (about Rs 7.86 crore). Vestas is in an advanced phase of commissioning its new wind-energy-generator blades and controllers facility in Chennai.
Commercial vehicles, Passenger cars, auto parts, wind turbines, shipbuilding, and almost all manufacturing segments are booming with a huge lot of investment going in all the segments. The interesting part is the thrust on innovation in manufacturing and the strength of India in R&D that the global companies want to cash on.