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Reliance
Mangoes on UK, US Supermarket Shelves
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It
started off as an initiative to green
its refinery complex, but Reliance Industries'
mangoes are poised to be serious money-spinners
with higher profit margins than petroleum
products as they make their way to tony
stores like Harrods in London as well
as the US. Hital R. Meswani, executive
director of diversified Reliance Industries
Group, says "mangoes make more margin
(profits) than any of the petroleum products"
produced in the third largest refinery
in the world. Last year, Reliance, which
cultivates Asia's largest mango plantation
covering 470 acres, sold only three tonnes
of its 387 tonnes mango crop to Harrods.
Most of the fruit was supplied to the
company township and to some major chain
stores within the country. It will be
different now. "But next year in June,
as against Harrods' demand for 300 tonnes
of mango table fruit, pulp and slices,
we have agreed to supply 100 tonnes under
our Releure brand," said Reliance Agro
Initiative Vice President I M Thimaiah,
who has helped to create a green belt
that includes 32 varieties of fruit trees,
some not native to India. The company
is planning to do the grading within the
complex and initially use facilities at
Anand, the milk hub of Gujarat, for preparing
and packaging the mango pulp and slices
to be sent to Harrods and to stores in
the US next June. "Once volumes go up,
Reliance may set up its own food processing
unit, have its own reefer vans and cold
storage facilities as we would like to
minimise waste," Thimaiah told the media.
In the case of Japan, the requirement
of irradiation process is being seen as
a difficult and expensive requirement.
Courtesy:
The Economic Times, September 23, 2006
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to Index
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'India
Will Soon Become Manufacturing Hub'
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India
would soon become a manufacturing hub
riding on the back of its natural advantages
of knowledge infrastructure, strengths
in manufacturing and the on going focus
to enhance competitiveness, said Dr Ashwani
Kumar, Minister of State for Industry.
The Minister was speaking at the 3rd Indo-US
Economic Summit here recently. He referred
to a recent study, which pointed out that
in 50 years, India's import of electronics
goods would swell overtaking the oil imports.
That would spur an investment boom in
IT and electronic hardware sector. He
invited the US businessmen to take advantage
of those emerging opportunities by investing
in India in these segments. Laying emphasis
on the SME sector in India, the Minister
said that the Government was taking several
initiatives to nurture this sector. Some
of the programmes in this regard included
revamping Technology Upgradation Fund
scheme and ingraining greater degree of
innovativeness across the SME sector.
The Government was evolving a scheme for
this purpose in consultation with National
Manufacturing Competitiveness Council.
Courtesy:
www.thehindubusinessline.com, September
20, 2006
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to Index
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Indian
Realty Sector Emerging Global Investors'
Choice: Survey
|
| |
|
The
Indian real estate industry is poised
to emerge as one of the most preferred
investment destinations for global realty
and investment firms in the coming three
to five years, according to a survey done
by the Federation of Indian Chambers of
Commerce and Industry and Ernst & Young.
The focus for growth in the sector will
be on product differentiation and quality,
geographic de-concentration from metros
to smaller cities, shift from regional
developers to national developers, consolidation
of large Indian business groups and their
emergence as market leaders, shift from
land transaction to development transaction,
change in ownership to leasing, correction
in supply format from investor to consumer
driven, movement of construction giants
up the value chain and the emergence of
strong real estate capital market. According
to the study, in the commercial office
segment, the demand for office space is
set to expand significantly in the next
few years, primarily driven by the IT
and ITES industry that requires an estimated
office space of more than 367 million
sq ft till 2012-13. Further, India's improving
image, as a regional corporate base for
Asian markets and strong growth in emerging
sectors such as financial services, pharmaceuticals,
telecommunications, and biotechnology
will also boost demand and broaden the
occupier base. Several upcoming special
economic zones are also expected to provide
the next generation impetus to the commercial
office space development.
Courtesy:
www.thehindubusinessline.com, September
20, 2006
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to Index
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Infosys'
Finacle Momentum Accelerates in Europe
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| |
|
Infosys
Technologies has announced that the only
large domestic bank in Croatia, Hrvatska
Postanska Banka (HPB), has selected Finacle
Universal Banking Solution from Infosys
to drive its technology-led transformation
initiative. Finacle core banking solution
will replace the bank's legacy system
and help strengthen the bank's competitive
position by enabling innovation, greater
process efficiencies as well as by meeting
the new regulatory requirements, including
Basel II. HPB will also deploy the Finacle
e-banking and treasury solutions.
Courtesy:
The Hindu, September 20, 2006
Back
to Index
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Infosys
Eyes World Markets For A Big Leap
|
| |
|
Infosys,
which is dominating the banking software
space in India, is bullish on growth in
the domestic and global markets in its
bid to emerge as a top provider of core
banking solutions to banks worldwide.
"We are in talks with some more Indian
banks and some Russian banks for implementing
Finacle Universal Banking Solution to
help them achieve greater process efficiency,"
said Infosys VP & Business Head-Finacle
Merwin Fernandes. He said Infosys has
bagged core banking solution (CBS) implementation
contracts in 15 banks in India out of
the 24 banks that have implemented the
technology in the last three years for
seamless real time integration capabilities.
"We have about 66 per cent market share
in banking software in India," he said,
adding that Infosys is in talks with some
more banks for implementing CBS. All over
the world, banks are in a hurry to do
away with the decades-old-technology and
implement CBS to achieve greater operational
efficiency as is mandated in Basel II
norms to be effective from March next
year. Fernandes said the company is targeting
overseas markets like Europe, Middle East,
Australia, South Asia and Latin America
for faster growth. Revenues from 'Finacle'
software grew by 68 per cent to over USD
81 million in 2005-06 and the company
is very optimistic of growth prospects
this fiscal. The clients of Finacle include
ICICI Bank, Punjab National Bank, Bank
of India, ABN Amro, UTI Bank and SBI's
overseas operations, to name a few. Last
week, Croatia's only large domestic bank
Hrvatska Postanska Banka selected Finacle
to drive its technology-led transformation
initiative.
Courtesy:
www.financialexpress.com, September 20,
2006
Back
to Index
|
| |
Infosys
Eyes World Markets for a Big Leap
|
| |
|
Infosys,
which is dominating the banking software
space in India, is bullish on growth in
the domestic and global markets in its
bid to emerge as a top provider of core
banking solutions to banks worldwide.
"We are in talks with some more Indian
banks and some Russian banks for implementing
Finacle Universal Banking Solution to
help them achieve greater process efficiency,"
said Infosys VP & Business Head-Finacle
Merwin Fernandes. He said Infosys has
bagged core banking solution (CBS) implementation
contracts in 15 banks in India out of
the 24 banks that have implemented the
technology in the last three years for
seamless real time integration capabilities.
"We have about 66 per cent market share
in banking software in India," he said,
adding that Infosys is in talks with some
more banks for implementing CBS. All over
the world, banks are in a hurry to do
away with the decades-old-technology and
implement CBS to achieve greater operational
efficiency as is mandated in Basel II
norms to be effective from March next
year. Fernandes said the company is targeting
overseas markets like Europe, Middle East,
Australia, South Asia and Latin America
for faster growth. Revenues from 'Finacle'
software grew by 68 per cent to over USD
81 million in 2005-06 and the company
is very optimistic of growth prospects
this fiscal. The clients of Finacle include
ICICI Bank, Punjab National Bank, Bank
of India, ABN Amro, UTI Bank and SBI's
overseas operations, to name a few. Last
week, Croatia's only large domestic bank
Hrvatska Postanska Banka selected Finacle
to drive its technology-led transformation
initiative.
Courtesy:
The Financial Express: September 19, 2006
Back
to Index
|
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7
Indian cos Among S&P's Global Challengers
|
| |
|
Seven
India-based companies from different sectors
have figured in a global list of index
provider Standard & Poor's (S&P) 300 mid-size
companies that are expected to emerge
as challengers to the world's leading
blue chip companies. The companies are
Bharat Forge, Siemens India, Chennai Petroleum,
UTI Bank, Punjab National Bank, Nicholas
Piramal and Oriental Bank of Commerce.
Designated the S&P Global Challengers,
the list comprises publicly traded companies
that show the highest growth characteristics
along dimensions encompassing intrinsic
and extrinsic growth. S&P will publish
the list on an annual basis, and will
track the companies' performance through
annual publications, a company release
said. The list is based upon a methodology
that applies consistent standards across
multiple countries. The attributes used
to identify the companies are share price
appreciation, sales growth, earnings growth
and employee growth. However, the list
did not consider ADRs/GDRs. But in the
case of multiple listings on different
exchanges by the same company, only the
listing in the home-country was considered.
All eligible companies had at least $500
million in total market capitalisation,
and at most, $5 billion. The 2006 edition
of the list has representation from 32
countries and 10 sectors. "The quintessential
quest for growth by corporate executives,
consultants, marketers and investors needs
a robust, globally consistent leader board,"
said Srikant Dash, index strategist, S&P.
The list can be used by service providers
such as consultants and marketers analysing
global growth trends or seeking client
engagement opportunities, by strategy
formulators assessing future partners
or competitors, and product providers
structuring investment vehicles that offer
exposure to fast growing mid-size companies.
S&P also announced the launch of the S&P
Global Challengers 40 index, a highly
liquid and investable subset of the broader
S&P Global Challengers List. The index
is an equal-weighted portfolio of the
40 fastest growing stocks with representation
from around the world.
Courtesy:
The Financial Express: September 19, 2006
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to Index
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Suzlon
Subsidiary Inks Deal With US Firm
|
| |
|
Suzlon
Wind Energy Corporation, a subsidiary
of Suzlon Energy, has signed an agreement
with John Deere Wind Energy for the supply
of 247 MW wind turbines. The delivery
of turbines will take place in a phased
manner throughout 2007. According to a
release issued by Suzlon to the BSE today,
the current consolidated order book position
stands at Rs 5,777 crore - Rs 4,977 crore
international orders and Rs 800 crore
domestic orders.
Courtesy:
www.business-standard.com, September 18,
2006
Back
to Index
|
| |
MAN
Makes $12bn bid For Scania
|
| |
|
German
industrial conglomerate MAN AG today made
a 9.6 billion euro ($12.2 billion) bid
in cash and stock for Sweden's Scania
AB. MAN said it would pay 38.35 euro in
cash and 0.151 new MAN shares for each
Scania share valuing the stock of the
Swedish truck maker at 48 euro per share.
The deal values Scania at 16 times expected
2006 earnings, but below the global average
for commercial vehicle makers of 18 but
a premium to the PE of 11 for larger rival
Volvo AB.
Courtesy:
www.business-standard.com, September 18,
2006
Back
to Index
|
| |
Infosys
Eyes World Markets For A Big Leap
|
| |
|
Infosys,
which is dominating the banking software
space in India, is bullish on growth in
the domestic and global markets in its
bid to emerge as a top provider of core
banking solutions to banks worldwide.
"We are in talks with some more Indian
banks and some Russian banks for implementing
Finacle Universal Banking Solution to
help them achieve greater process efficiency,"
said Infosys VP & Business Head-Finacle
Merwin Fernandes. He said Infosys has
bagged core banking solution (CBS) implementation
contracts in 15 banks in India out of
the 24 banks that have implemented the
technology in the last three years for
seamless real time integration capabilities.
"We have about 66 per cent market share
in banking software in India," he said,
adding that Infosys is in talks with some
more banks for implementing CBS. All over
the world, banks are in a hurry to do
away with the decades-old-technology and
implement CBS to achieve greater operational
efficiency as is mandated in Basel II
norms to be effective from March next
year. Fernandes said the company is targeting
overseas markets like Europe, Middle East,
Australia, South Asia and Latin America
for faster growth. Revenues from 'Finacle'
software grew by 68 per cent to over USD
81 million in 2005-06 and the company
is very optimistic of growth prospects
this fiscal. The clients of Finacle include
ICICI Bank, Punjab National Bank, Bank
of India, ABN Amro, UTI Bank and SBI's
overseas operations, to name a few. Last
week, Croatia's only large domestic bank
Hrvatska Postanska Banka selected Finacle
to drive its technology-led transformation
initiative.
Courtesy:
www.financialexpress.com, September 18,
2006
Back
to Index
|
| |
India
Better-Positioned Than China: Ranbaxy
|
| |
|
India
was better positioned than China on various
parameters to reach the centrestage in
the global pharma industry, but needed
to address issues like infrastructure
and pollution to maintain the momentum,
Ranbaxy Chief Mentor Brian Tempest said
on Thursday. Addressing a CII-meet on
pharmaceutical industry in New Delhi,
he said the country was moving ahead at
a rapid pace in the global arena and has
the potential to become a 'global strategic
asset' for the pharma industry. "India's
50 per cent population below the age of
25 years is going to act as a secret weapon
in future, while the one-child policy
in China will play a spoilsport," he said,
economic fundamentals are also expected
to favour India in the days to come. Maintaining
that all the fundamentals were very strong
in India and the regulatory framework
has, over the years, changed a lot for
the better, he said qualified scientists
and engineers have made it a better place
for R&D investments. "However, infrastructure
is a potential risk for India and if it
does not improve in the next three to
four years, it will really limit the growth
of the industry," Tempest said. Echoing
Tempest's view, John Morris, Global Chair,
Pharma, KPMG said that global pharma players
were eyeing the Chinese generic market
and the time was ripe for Indian companies
to start doing the groundwork for entering
the market in a big way, since it has
the necessary expertise. "India has really
the advantage to make a mark in Chinese
market. But, how long the advantage will
last is a big question, since all are
eyeing into that market," he added. Morris
added that the Indian drug market needs
to transform itself and a change in the
legislation was also called for.
Courtesy:
Hindustan Times, September 18, 2006
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to Index
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IT
Cos Look to Ride on Virtual Wheels
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| |
|
It's
the perfect fit between the brick-and-mortar
and the click-and-portal. The auto industry's
search for faster product development
may spell billions of dollars in offshoring
revenue for Indian software and design
prototyping companies. Industry experts
call it virtual manufacturing and digital
flow simulation. And estimates currently
peg its value at around $100m (including
digital impact testing). What makes it
such a carrot for both software companies
as well as vehicle manufacturers is its
cost-revenue promise. Virtual manufacturing
(VM) can cut product development time
by 25%. For Indian design and automotive
offshoring companies, it will also mean
a "significant" part of the $8-bn Indian
automotive engineering services pie by
'20. Already, global OEMs like Fiat and
Renault are using VM to cut product costs.
Fiat's new, facelifted Stilo, which debuted
this summer, used VM to do away with the
entire physical prototyping and testing.
The result: Fiat managed to unveil the
model in 18 instead of the usual 24 months.
Renault too used this route to keep production
costs low on its Logan model, due for
India in '07. Says Pawan Goenka, president-automotive
division, M&M (which has tied up with
Renault to roll out the Logan in India):
"Using virtual engineering to cut validation
and product development time is common.
But using it to cut physical prototyping
and testing is just about catching on."
Mr Goenka admits it will take India's
auto majors two more product cycles before
they gain the confidence to move to VM,
even though the amount of virtual engineering
involved in product development is on
the rise. "We will use a lot more virtual
engineering for the under-development
Ingenio than the Scorpio," says Mr Goenka.
Courtesy:
The Economic Times, September 18, 2006
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to Index
|
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Gems
And Jewellery Exports to Touch $20 bn
by 2007
|
| |
|
Gems
and jewellery exports from the country
are likely to touch 20 billion dollars
by 2007 with buyers from the US and European
Union increasing bulk purchases of diamond
studded jewellery from India because of
its affordability, according to a report.
The study by ICRA said India has achieved
a reputation of being world's leading
diamond cutting and polishing centre for
smaller stones. Now industry leaders are
looking to process larger stones to clock
greater growth by utilising modern advanced
technologies besides cheap abundant labour.
Quoting figures released by GJPEC, ICRA
said exports of gems and jewellery were
expected to touch 20 billion dollars by
2007. Although, the positive development
in the industry has also been due to pick
up in demand in major markets like the
US, Belgium, Israel and Hong Kong and
decline in growth of its major competitors.
The improved performance of the Indian
GJ industry is also due to the decline
suffered by its competitors like Belgium
whose polished diamond export declined
by 3.8 per cent in 2005 to 9.36 million
carats. The volumes of Israel's polished
diamonds also decreased by 3.2 per cent
in 2005 to 4.49 million carats. Exports
of gold jewellery have increased to Rs
170.15 billion in 2006 from Rs 52.20 billion
in 2001, but are constrained by an inability
to compete in global markets on the basis
of price and superior design capabilities,
the report said. However, India has a
positive future in gems and jewellery
sector, that would be driven by increased
exports to the US and other markets and
growth in domestic consumption, the report
said.
Courtesy:
The Pioneer, September 18, 2006
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to Index
|
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Cotton
Textile Exports at $4.9 bn Surpass Target
|
| |
|
Cotton
textiles exports crossed the target for
the year 2005-06 setting aside apprehensions
of post quota regime adversities. Exports
of cotton textiles recorded a remarkable
growth of 28.5% in dollar terms, as compared
to the previous year, reaching a level
of $4.87 billion in 2005-06 surpassing
the target of 4.2 billion set by the Ministry
of Textiles. B K Patodia, chairman, Texprocil
stated, "The apprehensions over the prospects
of Indian textile industry after abolition
of quotas from January 2005 have been
overcome, judging by the spectacular performance."
All the segments of cotton textiles posted
encouraging performance with the home
textile sector showing an impressive growth
of over 39% and cotton yarn growing by
over 27%. Exports of cotton fabrics, which
were sluggish in the initial months, have
also increased over 9%. Cotton yarn has
been able to maintain a share of 30% in
the overall basket of exports. In 2005-06,
it achieved a phenomenal growth of 33.42%
in quantity terms, reaching a level of
546 million kg. Exports of cotton yarn
to the US rose four-fold from Rs 21.65
cr to Rs 109.12 cr. While Korea, Bangladesh
and Italy continue to be major destinations
for cotton yarn, exports to China stridently
rose by 65%. Complimenting the exporters
for the stellar performance, Patodia stated
that robust growth in exports has shown
the resilience of the Indian cotton textile
industry in all the segments of textile
value chain. Texprocil chief stressed
that the real challenge was to sustain
the export growth over a longer period
of time and realise higher value per unit
of export. "With markets becoming increasingly
segmented and consumers having a wide
range of choices, India needs to develop
brands for its product lines and carve
out a niche for itself in the overseas
markets," he stated in a press release.
Keeping in view the current growth rate
of over 25% in respect of cotton textile
and garment exports, Patodia is confident
that the vision of achieving export performance
of $50 billion by 2010 will become a reality.
CRISIL Infrastructure Advisory (CIA) had
stated earlier that India's textile exports
are set to increase from around $17 billion
last year (FY 2006) to around $40 billion
by FY 2011 (CY 2010, 18.7% CAGR). The
last one-year of quota-free trade has
seen India has moved one notch higher
to become the third largest supplier of
textile and clothing to the US. In the
extra - EU-25 market, India has retained
its third position behind Turkey. It had
stated that the factors of multi-fibre
base, value chain integration and low
labour cost provide a globally competitive
cost structure for operations, driving
relocation of international industry.
Courtesy:
www.financialexpress.com, September 18,
2006
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to Index
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'China,
India Break Economic Ground in Africa
'
|
| |
|
A
massive rise in trade and investment by
China and India holds great potential
for economic growth and job creation in
Africa, said a study released by the World
Bank on Sunday. The study, "Africa's Silk
Road: China and India's New Economic Frontier",
recommends an array of trade and investment
reforms within and between the two regions
to deepen the growing ties and address
imbalances that could prevent African
economies to benefit from the increasingly
important roles China and India play in
the global economy. Based on new evidence
on the operations of Chinese and Indian
businesses in Africa, the study finds
that Asia now receives 27% of Africa's
exports, tripling the amount in 1990 and
almost on par with exports to the US and
the European Union, Africa's traditional
trading partners. Meanwhile, Asian exports
to Africa are growing 18% per year, faster
than to any other regions in the world.
China and India's foreign direct investments
in Africa are more modest than trade flows,
but they are also growing very rapidly,
according to the study. "This new `Silk
Road' potentially presents to sub-Saharan
Africa, home to 300m of the globe's poorest
people and the world's most formidable
development challenge, a significant and
to date rare opportunity to hasten its
international integration and growth,"
said Harry G Broadman, World Bank Africa
Region Economic Advisor and author of
the study. This new economic frontier
extends beyond trade and investment in
natural resources, according to new data
presented in the study. China and India's
commerce with Africa is opening the way
for the sub-Saharan continent to become
a processor of commodities and a competitive
supplier of labour-intensive goods and
services to Chinese and Indian firms and
consumers.
Courtesy:
The Economic Times, September 18, 2006
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to Index
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Tata
Brand Bag Fattens Further
|
| |
|
The
corpus of the Tata Brand Equity and Brand
Promotion (BE/BP) has swollen to Rs 120
crore this year, its highest ever, on
the back of the strong performance posted
by most of the Tata group companies. Sources
said this is more than double the original
corpus at the time of the launch five
years back. The BE/BP fund was set up
in '00 to shore up the Tata brand and
create a cohesive group identity. The
number of group companies that had signed
the Brand Equity and Brand Promotion Agreements
(BEBPA) with Tata Sons has shot up from
10-12 to about 50-60. Last year, the fund
had collected about Rs 100 crore, according
to sources. The fund's corpus has increased
over the years as more companies have
begun contributing to it than earlier.
The amount of contributions depends on
the degree of association with the Tata
group. Companies that use the Tata brand
name directly like Tata Steel, Tata Tea,
etc contribute 0.25% of the turnover,
or 5% of the profit before tax, whichever
is less. The other group companies that
do not use the Tata name directly like
Indian Hotels contribute 0.15% of the
turnover. Also, only profit making companies
contribute to the fund. As part of the
scheme, group companies have to also comply
with the prescribed code of conduct of
the Tata group. The BE/BP scheme, when
it was first mooted, had created a furore
among consumer activists and investors
who feared that the contribution by various
Tata companies will serve as a source
of revenue for Tata Sons to increase its
stake in its operating companies. This
had led Tata Sons chairman, Ratan Tata
to write to each shareholder in the group
justifying the brand equity promotion
fund. Mr Tata also assured consumer activists
that the royalty paid by the group companies
will be kept separately and not be used
by Tata Sons. Today, the revival in the
fortunes of the Tata group has had a positive
rub-off on the Tata brand. For instance,
the improved performance of the pillar
firms in the group, be it Tata Motors,
Tata Steel or TCS, coupled with the growing
international presence through acquisitions
and greenfield investments have contributed
to improving the image of the group. "There
is no doubt that the Tata brand has seen
a significant resurgence in recent years.
There has been some specific effort behind
this, enhanced by a positive effect due
to excellent company performances," said
R Gopalakrishnan, executive director,
Tata Sons.
Courtesy:
The Economic Times, September 15, 2006
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to Index
|
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S
Kumars Sets Sights on US Home Furnishing
Giant
|
| |
|
In
Keeping with India Inc's stride in global
acquisitions, S Kumars is bidding for
one of the largest American home furnishing
manufacturing and distribution company,
America Pacific. If the deal goes through,
S Kumars will pay around $100-120m (Rs
450-550 crore) for the company. America
Pacific supplies bedding, bath and window
products to many US brands, including
Nautica, Dockers and Liz Claiborne. It
also makes and markets home linen under
its own brand, but that accounts for only
4-5% of its total business. When contacted
to comment on the impending deal, S Kumars
CEO Nitin Kasliwal declined to comment.
However, sources confirmed that the Indian
company has already conducted the first
round of due diligence of the US company.
The second round is on the anvil. Apparently,
a foreign fund which owns a substantial
stake in America Pacific is exiting and
even the owner of the company wants to
sell out. Sources said there could be
other Indian and global players eyeing
the company as well. America Pacific is
headquartered in San Francisco with sourcing
offices in China, India, Pakistan and
Turkey. If S Kumars manages to strike
this deal, it will add Rs 400-500 crore
to its home furnishing business which
has just been launched under the brand
name - Carmichael House. The acquisition
will also help integrate S Kumars business
at various levels, First, it will give
the company access to various retail stores
in the US; second, it will help underwrite
back-end facility and third, source better
for the Indian market. Industry sources
point out that the activity in the international
home textile space is hotting up, thanks
to the housing boom and the rise of Rs
1 crore plus homes. Two months ago, Delhi-based
GHCL acquired UK's leading home furnishing
retail chain Rosebys for $40m. The idea
behind the acquisition, according to GHCL,
is to leverage Roseby's established platform
across the European Union, which will
make it one of the dominant players in
the home textile space globally. Another
Indian home textile company, Welspun bought
Christy, a UK-based towel brand owned
by CHT Holdings, which gave it a Rs 300-crore
business. Even though Christy's profitability
is not known to be high, Welspun gained
a strong brand, access to the European
market and a retail presence (Christy
has its own stores too). It can use Christy's
contacts with retailers to sell other
Welspun in lucrative markets, for example
in the premium US retail segment.
Courtesy:
The Economic Times, September 15, 2006
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to Index
|
| |
India
Ahead of China in Global Pharma Industry
|
| |
|
India
was better positioned than China on various
parameters to reach the centre stage in
the global pharma industry, but needed
to address issues like infrastructure
and pollution to maintain the momentum,
Ranbaxy Chief Mentor Brian Tempest said
on Thursday. Addressing a CII-meet on
pharmaceutical industry here, he said
the country was moving ahead at a rapid
pace in the global arena and has the potential
to become a 'global strategic asset' for
the pharma industry. "India's 50 per cent
population below the age of 25 years is
going to act as a secret weapon in future,
while the one- child policy in China will
play a spoilsport," he said, economic
fundamentals are also expected to favour
India in the days to come. Maintaining
that all the fundamentals were very strong
in India and the regulatory framework
has, over the years, changed a lot for
the better, he said qualified scientists
and engineers have made it a better place
for R&D investments. "However, infrastructure
is a potential risk for India and if it
does not improve in the next three to
four years, it will really limit the growth
of the industry," Tempest said.
Courtesy:
The Economic Times, September 15, 2006
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