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India has emerged as the most attractive destination for global retailers, amongst 30 emerging markets, according to A.T. Kearney's Global Retail Development Index (GRDI).
Meanwhile, the government has cleared 23 foreign direct investment (FDI) proposals worth Rs 564 crore (US$ 118.5 million).
And, German and UK-based biotech companies intend to tap into the burgeoning biotechnology market. |
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| Warm regards, |
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Aparna Dutt Sharma
CEO
India Brand Equity Foundation |
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Focus: Biotech |
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Upbeat on India's burgeoning biotechnology market—poised to grow by 18 per cent in 2008-09 to Rs 12,137 crore (US$ 2.5 billion)—several German and UK-based biotech companies are planning to outsource more work and transfer technology to Indian companies.
Meanwhile, with new special economic zones (SEZs) being set up and states such as Karnataka implementing new policies, the Indian biotech sector is poised to drive increased foreign investment. | |
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Focus: Business Process Outsourcings |
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The domestic business process outsourcing (BPO) market grew faster than the exports market to reach nearly US$ 1.6 billion in revenues in 2007-08, according to an Ernst and Young (E&Y) study. Significantly, the Indian business outsourcing firms are saving billions by cutting down on frills and setting cost benchmarks.
Meanwhile, information technology (IT)/IT-enabled services (ITeS) majors are foraying into Tier II cities such as Jaipur and Nagpur for setting up their businesses. | |
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Interview: Rukhshad Shroff, Managing Director and Investment Manager at JP Morgan, shares his perception on the investment scenario in India |
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"We are looking to invest in India. While we have investments of $4.5 billion through 12 India-dedicated funds, we are looking to invest more. We have been collecting money since the time before elections, to be invested in India.
Investments would continue to grow in India and will be driven by a sustainable growth, the scale of the economy, vibrant diversified corporate sector. Also we will have lot many large companies that will get listed. We do not have a listed insurance company. If LIC and BSNL get listed they will attract attention of world investing community and will be a big source of attracting money." | [More] |
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Interview: Masahiro Takedagawa, President and CEO of Honda Siel Cars India Ltd (HSCI), is confident that his company can record double-digit growth this year, owing to an improving economy |
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"We hope to record a double-digit growth this year, primarily on account of sales added by the Jazz (starting at Rs 7.43 lakh, ex-showroom Mumbai). We will be happy if the Jazz achieves half the sales of the Honda City (the company sells 3,000-3,300 units of the City every month). Besides, we are also studying the possibility of assembling the CR-V here.
About $100 million (around Rs 475 crore, according to today's exchange rate) for the engine plant and another $50 million (about 237 crore) for the transmission plant. This is what is usually spent by Honda. We do make crankshaft and connecting rods in India at the moment." | [More] |
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| Policy/Corporate Briefs |
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| FIIs, banks can trade in interest rate futures |
| The Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) have jointly unveiled norms enabling exchange-traded interest rate futures (IRF). |
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| Sebi simplifies listing norms for IDRs |
| In order to reduce the additional regulatory and cost burden to the issuer of Indian Depository Receipts (IDR), the market regulator Securities and Exchange Board of India (SEBI) has drafted a simplified listing agreement for the IDR. |
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| Damas' single brand retail among 23 FDI plans cleared |
| The government has cleared 23 foreign direct investment (FDI) proposals—including those of Damas LLC and HP India Holdings, Mauritius—worth Rs 564 crore (US$ 118.5 million). |
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| India's exports to France increase by nearly 23% |
| The bilateral trade between India and France in 2008 clocked €6.8 billion (US$ 9.58 billion), with India enjoying a trade surplus of around €150 million (US$ 211.3 million), according to Francis Bouquin, French Trade Commissioner in Kolkata. |
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| India regains top spot as global retail investment destination: Report |
| India has reclaimed its position as the most attractive destination for global retailers despite the downturn, according to the Global Retail Development Index (GRDI) report brought out by US-based global management consulting firm, A.T. Kearney. |
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| PM calls for greater BRIC ties |
| Addressing the first summit of BRIC nations (Brazil, Russia, India and China), Prime Minister Manmohan Singh on June 16, 2009, said that the coming together of BRIC states in the G20 process must be backed by cooperation in the real economy space. |
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| Fire Capital to infuse $500 m into realty |
| US-based private equity fund major, Fire Capital, has earmarked a US$ 500 million equity investment to be spent over a period of five years on various realty projects, particularly on integrated townships, across the country. |
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| Nomura to pay Rs 138 cr for 19% of LIC MF stake |
| Japan-based Nomura will pay about Rs 138 crore (US$ 29 million) to buy 19.3 per cent stake in LIC Mutual Fund as part of a deal to acquire 35 per cent stake. |
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