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Fastest
Growth of Bottled Water Sales is in India
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The
fastest growth in the consumption of bottled
water in the world has been recorded in
India, according to a new study that questions
the rising thirst for bottled water. The
study, conducted by the US-based Earth
Policy Institute, says the global consumption
of bottled water has grown by 57 per cent
over the past five years, despite the
fact that the product is often no healthier
than tap water and costs up to 10,000
times more. Emily Arnold, the author of
the report, complains that the $100 billion
spent each year on bottled water is nearly
seven times the sum invested in providing
safe drinking water in developing countries.
According to the study, the US is the
world's largest consumer of bottled water
and Italians drink the most per person.
But the fastest growth is coming in developing
countries, with consumption tripling in
India and more than doubling in China
over the past five years, according to
the report. Arnold alleges that a Coca-Cola
water bottling plant in India has caused
water shortages in 50 surrounding villages.
However, the company has said that an
independent investigation found it was
not to blame. The report highlights increasing
scrutiny of bottled water producers such
as Nestle, Danone, Coca-Cola and PepsiCo
by environmental and human rights activists,
especially in places where water is scarce.
Arnold says in the report that 40 per
cent of bottled water comes from a municipal
source rather than a natural spring, including
leading US brands such as Coke's Dasani
and PepsiCo's Aquafina.
Courtesy:
The Times of India, February 15, 2006
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Exports
Jump 21% in Jan '06
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Country's
exports increased by 21 per cent during
January 2006 to $8.457 bn compared to
$6.963 bn in the same month a year ago.
Cumulative exports so far this fiscal
have risen by 18.8 per cent to $74.978
bn as against $63.076 bn during April-January
2004-05, according to the latest trade
date released by government today. Imports
during January stood at $113.67 bn as
against $102.69 bn last fiscal. Trade
deficit rose to $33.82 bn during April-January
2005-06 compared to $22.82 bn in the corresponding
year last fiscal.
Courtesy:
The Economic Times, February 15, 2006
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Domestic
cos Stealing a Global March in Efficiency
Benchmarks
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EVEN
as China continues to steal the show in
the global manufacturing scene with India
being relegated to the sidelines as merely
a service hub, Indian companies are increasingly
setting efficiency benchmarks across some
of the core manufacturing sectors. While
Tata Steel is among the lowest-cost steel
producers in the world, domestic cement
majors led by Gujarat Ambuja are setting
new cost efficiency benchmarks, beating
global biggies such as Lafarge, Holcim,
Heidelberg, and Cemex in terms of overall
profitability. A number of Indian manufacturing
majors are also leveraging on economies
of scale to emerge cost-competitive. Bharat
Forge, which operates one of the world's
largest forging capacities, and Essel
Propack, the world's largest manufacturers
of laminated tubes, are among the most
efficient producers of the product globally.
The Indian manufacturing sector's reliance
on quality parameters to achieve efficiency
is also borne out of the fact that Indian
companies are the second largest Deming
Award winners outside of Japan. In the
steel sector, Tata Steel has managed to
emerge as one of the lowest cost producers,
beating global biggies such as Usinor,
Baosteel, China Steel, and Nippon Steel
Severstal in terms of overall efficiency
levels as per World Steel Dynamics (WSD)
data. This has been possible largely because
it has its own ore and coking coal reserves
and through better operational management.
Indian cement majors are turning to cost
efficiency measures through the adoption
of improved plant processes and innovative
cost-cutting measures to emerge among
the most profitable firms.
Courtesy:
www.thehindubusinessline.com, February
15, 2006
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Cognizant
in JPMorgan Chase Top Vendor List
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Nasdaq-listed
IT services firm Cognizant today announced
that JPMorgan Chase has selected it as
one of its top eight suppliers for 2005.
An official release issued by Cognizant
said it was the only IT systems integrator
to receive the honour from among thousands
of suppliers that help JPMorgan Chase's
business on a daily basis. "Our single-minded
passion to build stronger businesses,
dedicating our global resources, systems
expertise and vertical industry intelligence,
we believe, has helped us provide superior
solutions to JPMorgan Chase globally,"
Lakshmi Narayanan, president and CEO of
Cognizant, said. "The supplier of the
year award acknowledges the best of the
best who have contributed to our goal
of being the best financial services company
in the world. Thanks to the help of partners
and advisors like Cognizant, which made
it to this select list by providing high
quality, innovative and value-added solutions,
we are able to serve our clients, shareholders,
communities and employees more efficiently,"
Bill Patrizio, chief procurement officer
at JPMorgan Chase, said in the statement.
JPMorgan Chase & Co is a leading global
financial services firm with assets of
$1.2 trillion and operations in more than
50 countries. It has 98 million credit
cards issued and serves consumers and
small businesses through over 2,500 bank
branches and 7,100 ATMs.
Courtesy:
www.business-standard.com, February 15,
2006
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China-India
Trade at Record US$ 18.71 Billion
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Sino-India
bilateral trade during January-December
2005 set a new record at US$ 18.71 billion,
up 37.64 per cent over 2004 when it was
US$ 13.59 billion. At this rate, the target
of $20 billion in bilateral trade by 2008
set by the two governments would be achieved
this year, two years in advance, diplomatic
sources said. In 2000, Sino-India bilateral
trade was just $3 billion while it touched
$5 billion in 2002. Meanwhile, India's
trade surplus with China in 2005 has shrunk
by more than half to $843.16 million from
an impressive $1.74 billion in 2004, latest
Chinese customs figures indicated. Indian
exports to China last year grew by 27.47
per cent to $9.78 billion. In 2004, India's
exports to China amounted to $7.67 billion,
according to the General Administration
of Customs of China. India's imports from
China witnessed rapid growth last year
when $8.93 billion worth of goods were
shipped from Beijing, registering a 50.82
per cent hike. Chinese exports to India
in 2004 amounted to $5.92 billion. Thus,
India's trade surplus shrunk to $843.16
million in 2005 compared to $1.74 billion
in 2004. China's total foreign trade volume
hit a record $1.4 trillion in 2005, up
23.2 per cent over the previous year.
Thus, the growth in Sino-India bilateral
trade at 37.64 per cent was much higher
than China's surging foreign trade globally
at 23.2 per cent.
Courtesy:
Rediff.com: February 15, 2006
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ONGC
Ties up With Norway's EMGS For Deep Water
Drilling
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ONGC
has entered into a tie-up with Electromagnetic
Geoservices (EMGS) to improve its prospects
of recovering oil and gas through deep
water drilling. The tie-up will give ONGC
access to the Norwegian company's pioneering
technology in this area. The partnership,
which was finalised a fortnight ago, is
expected to improve ONGC's low success
ratio in deep water drilling, part of
which is attributed to lack of access
to appropriate technology. EMGS' patented
technology, 'sea bed logging', is particularly
suited for extracting, what is termed
in oil industry parlance as 'difficult
oils.' "The new technology is expected
to be particularly useful for improving
the success ratio of our deep water campaign
in blocks off the east coast. These include
the Krishna Godavari basin, Mahanadi basin
and the Bengal basin," ONGC sources told
ET. Incidentally, as the country's first
upstream operator to acquire sea bed logging
technology, ONGC will also be in a position
to reduce the cost of its deep water campaign
by use of this technology.
Courtesy:
The Economic Times, February 15, 2006
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United
Phosphorus Buys Dutch Seed Firm For US$
119 Million
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United
Phosphorus Ltd (UPL) has announced that
it has acquired a seeds company called
Advanta Netherlands Holdings BV for a
total consideration of US$ 119 million.
UPL has acquired this company through
its subsidiary in Mauritius. "With this
acquisition, UPL is transforming itself
from a crop protection company into an
integrated bioscience company," said Mr
Aditya Sanghi, Country Head (Investment
Banking), Yes Bank, which managed the
deal. Advanta's presence in Argentina,
Australia, and Thailand (apart from India)
provides UPL with an international platform.
It has a significant presence in these
countries, Mr Sanghi said. It would also
help UPL consolidate its position in crop
protection and bioscience and facilitate
it to look at more acquisitions. Advanta
is a leading supplier of seeds and seed
technologies to major global and regional
markets, providing added value to farmers,
downstream industries, and consumers by
combing superior genetics with essential
technologies and techniques. "Advanta's
R&D consists of superior breeding programs
and bioscience techniques that have driven
the development of a portfolio of elite,
proprietary, and highly differentiated
germplasm," said UPL in a notice to the
BSE.
Courtesy:
The Hindu Business Line: February 15,
2006
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VSNL
Completes $239 mn Teleglobe Acquisition
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Videsh
Sanchar Nigam Ltd (VSNL) announced on
Tuesday, the completion of its acquisition
of Teleglobe International Holdings Ltd,
for about $239 million, comprising payment
of $4.50 per share to Teleglobe shareholders
and assumption of net debt. The new combined
company will own and operate one of the
world's largest international mobile,
data, and voice networks with coverage
to more than 240 countries and territories.
VSNL International will leverage Teleglobe's
network and capabilities to further expand
services with multi-technology connectivity,
commercial flexibility and managed services.
"The Teleglobe acquisition is a critical
step toward our vision to become a global
industry leader providing customers with
converged communications solutions. Our
complementary networks and capabilities
will further drive mobile, data and voice
innovation for our enterprise customers,"
said Mr N. Srinath, executive director,
VSNL. With this acquisition, the company's
wholesale customers will benefit from
superior network reach, and scalability
from a single partner worldwide for voice,
data and mobile services. The combined
company will operate under the name of
VSNL International. VSNL will have access
to Teleglobe's global, robust and scalable
network capacity and seamless connectivity.
Courtesy:
The Asian Age, February 15, 2006
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Ranbaxy
Set For $400mn FCCB
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Ranbaxy
Laboratories Ltd is set to announce a
$400-million foreign currency convertible
bonds (FCCBs) issue as it braces up for
a couple of acquisitions in Europe. Besides
the much-touted Betapharm Arzeniemittel
GmbH bid in Germany, the Indian pharmaceuticals
major is close to acquiring Romanian firms,
Terapia and Sindan. Ranbaxy executives
declined to comment but a pharmaceuticals
industry source close to the development
said, "The top executives of the company
have been virtually shuttling between
Romania and Germany." The $400 million
worth of FCCBs are expected to be part
of the war chest Ranbaxy will need for
the Romanian targets and for Betapharm
if it wins the bid. Ranbaxy is believed
to have offered the owners of Betapharm,
3i Group, as much as ¤500 million, 50
million more than Dr Reddy's bid at ¤450
million. Deutsche Bank and Citibank have
been appointed to take care of the FCCB
issue. "Even though the bids have not
been opened and the winner is not known,
Ranbaxy is issuing this FCCB as money
cannot be raised at the press of a button.
With three possible acquisitions in the
offing (one in Germany and two in Romania),
the company seems confident that at least
one to two deals will pass muster," explained
a financial analyst. For long, acquisitions
have been on Ranbaxy's radar and the efforts
to grow inorganically seem to have intensified
with Malvinder Singh taking over as the
chief executive officer and managing director
of the company. Singh, in the past, expressed
the intention to make Ranbaxy grow inorganically
and have the company among the top five
generic players worldwide.
Courtesy:
www.business-standard.com, February 14,
2006
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India's
Embedded Tech Sector Poised to Grow: Experts
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India's
embedded technology sector is booming
with experts predicting a $8-11 billion
growth for the industry by 2008. "In 2004,
Indian IT companies had earned around
$2.3 billion from product engineering
services, including embedded software
and offshore products," George Johnson,
Director of Infinite Exposition, organisers
of the three-day global conference on
embedded technology being held here said,
quoting a Nasscom study. According to
Nasscom-McKinsey report, the current global
potential was estimated to be around USD
25 billion and is fast growing at 20-30
per cent, he said. "The embedded technology
in India is witnessing a parallel increase
with the growth in consumer goods, cell
phones, computers and automotives," according
to Ganesh Guruswamy, Director and Country
Manager, Free Scale Semicondcutor India
Limited. With India being one of the largest
consumer markets, the application of embedded
technology in the growing consumer goods
sector had boosted this industry in a
major way. "India was also one of the
largest producers of two wheelers, which
meant ample scope for incorporation of
embedded technology in this sector. The
four wheeler industry which was constantly
introducing new products in the market
had also seen the application of the technology
through the features like the anti-lock
break system, engine control system among
others," he said. Another sector, which
was embracing the technology in a massive
way, was the toy industry, said Jayaram
Krishna, CEO and Director, American Megatrends
India. The defence sector was another
area where the technology had been incorporated
to meet the growing demands for security
and modernisation of equipment.
Courtesy:
Hindustan Times, February 14, 2006
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BHEL
to Set up Thermal Project in Sudan
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INDIA
would build a 500 MW thermal power project
in Sudan to help the African nation meet
its power needs. The 500 MW thermal power
project would be built in 44 months by
Bharat Heavy Electricals Ltd (BHEL) for
$457 million, of which India has extended
a concessional line of credit of $350
million. Mr Sontosh Mohan Dev, Minister
for Heavy Industries and Public Enterprises,
laid the foundation stone for a mega power
project at Kosti in the White Nile State
of Central Sudan on Saturday, an official
release said here. "The Kosti project,
when completed, will be the single largest
power project in Sudan. Given its strategic
geographical location, the project will
cater to power needs of all the regions
of Sudan. Thus it is conceived as a national
integration project for Sudan," the release
added. Commenting on the development,
Mr Dev emphasised the growing friendship
and economic ties between the two countries.
He said that ONGC and BHEL were already
working in Sudan.
Courtesy:
www.thehindubusinessline.com, February
14, 2006
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China,
India to Lead Asia Pacific Business Travel
Market
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China
and India will lead Asia Pacific business
travel market, according to Carlson Wagonlit
Travel survey released Monday. The survey
showed that business travel is expected
to grow this year. Some 45 percent Chinese
interviewees said they will travel more
frequently than the previous year. The
business travel market continued to grow.
This year will see tremendous growth in
Asia Pacific region, said Berthold Trenkel,
chief operating officer of Asia Pacific
of Carlson Wagonlit. According to the
survey, 28 percent of the interviewees
think airport security inspection is the
main negative factor of the business travel,
and 23 percent of them think of plane
delays. Trenkel said Japanese preferred
online reservation, while only 23 percent
of Chinese did the same. According to
latest statistics, China has four to five
billion U.S. dollars of business travel
spending every year. Compared with other
markets, the potential is huge. Experts
said the statistics will double in five
years. Enditem
Courtesy:
Xinhuanet.com: February 14, 2006
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India
to Have One Million Hydrogen Fuel-Run
Vehicles by 2020
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India
is ready with a roadmap for use of non-conventional
resources with one million Hydrogen powered
vehicles expected to run on the country's
roads by 2020, Non-Conventional Energy
Resources Minister Vilas Muttemwar has
said. "We have been slow to respond to
face the challenge of our energy requirements,
but we are fast catching up and if powerful
nations like America, China, Japan, Canada
and Germany have a roadmap for Hydrogen
energy, so have we. By the year 2020,
we will have one million vehicles on our
roads running with Hydrogen fuel," he
told a BBC Hindi programme on Sunday night.
"We have huge resources of renewable energy
in the country. To begin with we have
a potential of five trillion Mega Watts
of solar energy, seventy thousand MW of
wind energy and more than two lakh MW
of Hydrogen energy.We are now tapping
this potential to meet our requirements,"
the minister said. Admitting India's lack
of planning in the energy sector over
the years, Muttemwar said due to this
the country was presently facing a gap
between its energy needs and resources,
and a change in the mindset was essential
to understand the importance of renewable
energy resources if the country was to
overcome the challenge in the sector.
"Keeping in mind the country's population
and our energy needs, there has been a
lack of planning in the energy sector
over the years. That is why we are facing
such a challenging situation, but we can
overcome this challenge if we change our
mindset and positively move ahead with
the renewable sources of energy," he said.
Courtesy:
Hindustan Times, February 14, 2006
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Bharat
Forge Open to More Acquisitions
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Pune-based
Bharat Forge (BFL) has set a target to
become the global leader in its business
by 2008, for which it is open to more
acquisitions to complement organic growth.
However, according to BFL chairman and
managing director Baba Kalyani, it does
not make a business case for Indian auto
component companies to acquire the assets
of troubled US automotive component giant
Delphi. "We want to achieve global leadership
by 2008. Part of that will be organic
growth and some inorganic," Kalyani told
Business Standard. In December last year,
Bharat Forge, India's largest auto-components
company, gained control of its counterpart
in China, a division of First Automobile
Works, the country's largest vehicle manufacturer.
The deal with FAW Forging boosted BFL's
capacity by 1,00,000 tonne, taking the
total to about 6,00,000 tonne, second
only to Germany's Thyssen Krupp. After
the acquisition - Bharat Forge's sixth
in four countries in the past two years
- Kalyani said that his company's global
strategy was complete, creating the widespread
impression that its appetite had been
satiated. Far from it. "Our strategy is
complete in the sense that we are now
present in all the important markets of
the world: North America, Europe and China.
In each market, we now need to consolidate
and grow," clarified Kalyani. However,
Delphi, in whose assets numerous Indian
companies have shown interest, is nowhere
on Kalyani's wish list. "It does not make
sense. Delphi will only sell where there
is maximum legacy cost (high wages, healthcare
and pension costs)," said Kalyani. Moreover,
he pointed out, Delphi won't sell businesses
with a future, which have technology and
innovation capabilities. "Why buy?" he
asked. BFL's acquisition strategy is guided
by garnering customers and getting closer
to its big markets. Besides, the outfit
being acquired must have enough high technology
to complement BFL's low-cost production
base.
Courtesy:
www.business-standard.com, February 14,
2006
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Foreign
B-Schools Eying Desi Recruiters
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This
is the season for academic tourism. Over
the past few months, India has played
host to a steady stream of university
officials and students from overseas.
What was once only a hunt for students
has now become much more: today, institutes
abroad are looking beyond, at academic
and corporate tie-ups in India. Recently,
a team headed by Paul Danos, dean of the
Tuck School of Business , travelled through
Delhi, Mumbai and Bangalore meeting prospective
students as well as employers. "We look
forward to giving our graduates access
to the opportunities for outstanding positions
in Indian-based companies, because there
is no doubt that those companies are growing
toward full competitiveness across the
board," said Dean Danos "We believe that
there will be an increase in demand for
top executive talent among the leading
companies in all the major economies of
the world, far beyond the long-established
US and European based companies," he added.
Courtesy:
The Economic Times, February 13, 2006
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India
to Overtake China as World's Largest Cell
Market
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China
may be large, but India is fast. After
catching up with China in mobile subscriber
growth in December '05, India is set to
surpass the dragon to become the world's
fastest growing cellular market. India
will add a whopping 358m mobile subscribers
between '06 and '11, says new research.
China, the largest mobile market now,
will rope in 354m users during the period,
becoming the second fastest growing market,
according to Portio Research's study on
'Top 25 Mobile Growth Markets Worldwide'.
"In '06, we expect to see the Asia Pacific
region break the magic 1bn subscribers
mark, the Middle East should cross over
50m and Europe pass a total of 700 m subscribers
across the entire region," it said. China
has been adding about 4-5m mobile users
per month. India achieved this landmark
in December '05 when the mobile subscribers
addition reached around 4.5m in a single
month for the first time since the launch
of mobile service in the year 1995, according
to telecom regulator Trai. "Thus, India
has really caught up with China in mobile
growth," Trai said. China began mobile
services in 1988. If the first eleven
years of performance is considered, the
performance of the Indian mobile sector
appears to be better than China's, according
to the regulator. The mobile user base
in India as on December-end stood at around
76m while it was 388m in China. India
also has one of the lowest per minute
tariffs of around 2.5 cents while the
charges in China are 3.5 cents for a minute.
According to Portio Research, after India
and China, Brazil, Indonesia and Nigeria
share the third slot. "The next is the
US market, where Portio forecasts almost
66m net adds over the five-year period.
"The USA is not an emerging market, but
in fact the world's richest economy and
these 66m new subscribers are likely to
generate vast new revenues for mobile
operators and other players in the value
chain," the study noted.
Courtesy:
The Economic Times, February 13, 2006
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Islamic
Banks Want in on India Story
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After
hedge funds, a new class of investors
is bullish about the India story. Islamic
banks - they operate on the basis of "zero
interest" - have begun to commit a big
money to the Indian stock market. Sources
told ET that Islamic banks are buying
equity of Indian companies from both the
primary and secondary markets. In the
recently concluded Federal Bank GDR issue,
Dubai Islamic Bank (DIB), a leading commercial
bank in the UAE has picked up 2-2.5% in
the Kerala-based private bank, said sources.
DIB committed $50m (Rs 220 crore) to the
overseas Federal Bank float. The issue
closed on January 31 and generated a gross
demand of $600m from investors across
the globe. DIB's commitment, therefore,
works to 8.3% of the demand generated.
Federal Bank mobilised $80m by selling
GDRs, which were listed on the LSE. Each
GDR (equivalent to one share of Federal
Bank) was priced at $3.97, which worked
out to around Rs 175 per share. The bank's
paid-up equity capital increased to Rs
85 crore, from Rs 65 crore. Courtesy:
The
Economic Times, February 13, 2006
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India-Gulf
Trade May Touch $25bn
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The
two-ways trade between India and Gulf
Cooperation Council (GCC) has the potential
to touch a level of $25 billion by 2010,
which is currently pegged at $16.3 billion,
according to a study by The Associated
Chambers of Commerce and Industry of India
(Assocham). Of the projected estimates,
the share of India's exports will touch
$15 billion, while their imports to India
will go up to $10 billion by 2010. India's
trade with GCC countries in terms of its
exports have registered an increase of
33.04 per cent between 2003-05 from an
export figure of $7 billion to over $9.4
billion. Indian imports from GCC countries
went up by 115 per cent from a little
over $3 billion to $6.9 billion during
the same period. Crude oil import from
GCC countries will form a major contribution
in India's import trade basket as manufacturing
in the domestic industry will accelerate
substantially, and lead to higher energy
demand for the domestic industry, says
the study. India is projected to replace
South Korea and emerge as the fourth-largest
consumer of energy after the US, China
and Japan.
Courtesy:
The Asian Age, February 13, 2006
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India
Touted to Emerge as Global Auto Leader
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With
both automobile and auto component sectors
witnessing impressive growth in the last
decade, India is all set to emerge as
global automobile giant. According to
the latest India trade outlook report
from DHL, "The automotive industry has
emerged as one of the prominent manufacturing
sectors of the Indian economy, contributing
four per cent of the GDP and providing
direct employment to about 4.5 lakh people."
While the report states that the global
market offers immense opportunities to
Indian automobiles' exporters, it cautions
that they faced competition from Chinese
counterparts, whose exports have grown
phenomenally over the last five years.
The report points out that the number
of vehicles manufactured in India has
risen from 2.4 million units in financial
year 1994 to 8.7 million units in 2005.
On the export front, the industry registered
a growth of almost 18 per cent since 1998
and exports stood at $ 1.4 billion during
last fiscal. On the other hand, Sri Lanka,
which accounted for 13.2 per cent of India's
total exports of automobiles last fiscal,
has emerged as the largest export destination
among 150 counties. Algeria, UK and Italy's
share in India's automobile export were
more than seven per cent each in the same
year. DHL has highlighted that the auto
policy announced by the government in
2002, that opened sector to 100 per cent
FDI and removed the minimum capital investment
norms for fresh entrants, has fuelled
this growth. Besides, the abolition of
licensing and removal of quantitative
restriction has also helped the auto industry
to restructure, absorb new technologies
and align itself to global development.
Courtesy:
The Asian Age, February 13, 2006
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Tata
VSAT to Explore West Asia
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Cost-effective
VSAT service provider, Tata Indicom VSAT
Services plans to explore opportunities
in West Asia and East Asian countries
through key project implementation, company's
top official said. The company has already
completed implementation of one such project
in Bhutan and is in negotiations for some
projects in West Asia. "We forayed into
commercial market in post deregulation
era around 2003, despite starting our
services for the Tata group in 1995. Now,
we being the late entrants to the scene
have advantage of beginning our services
with much advanced technology as well
as cost effectiveness," Tata Indicom VSAT
executive director Zal Engineer said.
The Rs 400-crore VSAT industry in the
country, is presently poised for a big
switchover, as the National Telecom Policy
2006 (NTP) is expected to grant many of
its long pending demands like lowering
the revenue share from 10 per cent to
six per cent. "This would eventually lead
to lower cost for the customers," he added.
Expecting high hopes from the NTP 2006,
Mr Engineer said presently most of the
VSAT operations are done on the KU band
frequency. "However, considering that
technology is rapidly moving towards the
KA band, which would reduce the cost of
hardware and services, we are waiting
for some decision in this regard," he
said. Tata Indicom VSAT Services, a Rs
60-crore company, has a share of around
10 per cent in the VSAT market in the
country. The company is working on a rural
initiative for providing communication
services to small villages. "We are looking
for providing communication services to
villages located at the remotest areas
and with meagre voice traffic, where even
installing a GSM tower is not cost effective.
VSAT could provide good alternative at
such junctures," Mr Engineer said.
Courtesy:
The Asian Age, February 13, 2006
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Foreign
Cos Crazy Over Indian BPOs
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West
Bengal's chief minister Buddhadeb Bhattacharjee
has just discovered an unlikely rival
for IT investments in his state: Indonesian
president Susilo Bambang Yudhoyono. Both
leaders are out to woo S Ramadorai, CEO
of Tata Consultancy Services, India's
No 1 IT company, to set up its call centres
in their respective regions. Indian states
like West Bengal, Uttar Pradesh, Kerala,
Haryana and Gujarat are suddenly waking
up to a new reality - when it comes to
fresh investments in IT and BPO services,
the competition is truly global.
Courtesy:
The Economic Times, February 11, 2006
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Clinical
Research Market May Grow to $1.5bn by
2010
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The
clinical research market in India, which
clocked $200 million in 2005, is expected
to grow to $1.5 billion by the year 2010.
Stating this at a seminar on 'Nurturing
entrepreneurship in biotechnology', a
special session sponsored by TiE (The
Indus Entrepreneurs), Anish Bhatnagar,
vice-president, Titan Pharmaceuticals
Inc, US, felt that the clinical research
organisation (CRO) market in India matured
significantly with the entry of indigenous
players. The second day of the session
was held as part of BioAsia 2006 at the
National Academy of Construction auditorium
here on Friday. "India still focused on
low-risk opportunities, and venture capitalists
have many reasons for being averse to
risk investment," Bhatnagar felt. Sanjay
Sehgal, East West Capital Partners of
US, said, "Entrepreneurs expect too many
miracles from venture capitalists." He
suggested that one should work jointly
with the venture capitalist (VC).
Courtesy:
www.business-standard.com, February 11,
2006
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Avaya
to Make India Its Operational Backbone
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Avaya,
a leader in IP telephony, voice messaging
and contact centres, focussed on building
intelligence into communications networks,
is introducing the command centre concept
at its Pune centre. Additionally, it plans
to build and support its entire technology
footprint at its centre in Pune, which
is also its major backbone. "We want to
build the Indian operation as the backbone.
We are building the service desk - the
front end - wherever there is need, but
the backbone will not be built globally.
Courtesy:
The Economic Times, February 11, 2006
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Aurobindo
Buys UK Generic Drug Company
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The
Hyderabad-based Auro-bindo Pharma Ltd.
said on Friday that its subsidiary in
the United Kingdom, Aurex Generics Ltd.,
has acquired Milpharm, a generic formulations
manufacturer. This is Aurobindo's first
acquisition in the highly regulated European
market, a company release said. It said
Aurex Generics Ltd has entered into a
share purchase agreement with Whyte Group
Ltd and Iracot Ltd buy Milpharm Ltd, which
is also based in the United Kingdom. Financial
terms of the deal were not disclosed.
The release said that Milpharm owns over
100 approved marketing authorisations
by Medicines and Healthcare Products Regulatory
Agency of the U.K. According to the release,
the MAs are well diversified into various
segments - CNS, CVS, GI, diabetology,
anti fungal, anti bacterial, oncology,
macroliads, cephs and SSPs, anti diabetic,
NSAIDS etc. Milpharm recorded a sale of
£7.7 million for the 12-month period ended
September 30, 2005. The acquisition is
to be funded through the $60 million issued
Aurobindo Pharma had raised through a
Foreign Currency Convertible Bonds (FCCBs)
issue in August last year.
Courtesy:
The Asian Age, February 11, 2006
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India
Fastest Growing Market for IBM
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IBM
India on Thursday said that it had recorded
a stupendous 55 per cent in its topline
growth in 2005 as against 45 per cent
recorded in 2004, making this the fastest
growing region for IBM. However, it declined
to reveal specific financial figures.
Dataquest reported a turnover of Rs 4,219
crore for IBM in 2004-05. Going by the,
IBM's turnover in Indian during calendar
2005 should be around $1.5 billion. The
company added 16,500 people during 2005,
taking its India strength to 38,500. With
this, IBM's workforce in India is its
second largest in the world, after that
in the US. According to industry estimates,
close to 50 per cent of the workforce
is in business transformation outsourcing,
a practice which IBM ramped up by acquiring
Daksh during early last year. Shanker
Annaswamy, MD, IBM India said: "With the
SMB (small and medium business) market
in India growing around 17 per cent year-on-year
and contributing 60 per cent of total
IT spending, IBM India's SMB business
is fast outpacing the market growth rate,
fuelling domestic revenue for the company."
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