Category — Industrial Goods
Reuters reports that India’s industrial output grew at its fastest pace in five years this October, propelled by manufacturing – factory output, utilities and mines grew 9.8 percent, its fastest pace since October 2010. Soumya Kanti Ghosh, chief economic advisor at state-held State Bank of India, reckoned that this data was likely to push overall economic growth for the year ending in March 2016 above 7.5 percent. “The base effect has played a role, but there is also a sequential momentum for manufacturing driving the index of industrial production, which is a good sign,” Ghosh said.
The goods and services tax, a crucial legislation that will add up to two percentage points to economic growth by replacing multiple federal and state tax levies, has been stalled in the parliament, and a lasting industrial recovery is less likely without fixing such structural bottlenecks said Shilan Shah, an economist at Capital Economics. Consumer demand grew 18.4 percent in October compared with a fall of 18.2 percent a year ago, and capital goods, a barometer of investments, surged 16.1 percent from a year earlier.
December 14, 2015 No Comments
In order to capitalize on the growing market in India, Amcor, headquartered in Melbourne, Australia, has acquired Packaging India Private Limited a unit of Essel Propack a specialty packaging company which serves multinational and local customers and generates annual sales of approximately $40 million. The deal was closed for $26.4 million.
Packaging India has three plants and it produces flexible packaging products predominately for the food and personal care markets. (India was one of the best performing emerging markets for beauty and personal care in 2014.)
Amcor currently has four flexible packaging plants in India, and with this acquisition, Amcor increases the local talent pool and adds to the existing blown film and cylinder making capabilities, reports GCI magazine.
August 31, 2015 No Comments
In the latest example of a commitment to the ‘Make in India’ initiative, Aequs Automotive, headquartered in Bangalore, announced the inauguration of its new 100% export-oriented automotive manufacturing facility in Belagavi. Located in the state of Karnataka, Belagavi is India’s first precision engineering special economic zone.
The 27,000 square feet facility will manufacture engine, transmission and hydraulic components for passenger and commercial vehicles for export to Aequs customers such as Jacobs Vehicle Systems, Bosch Group, Danaher Group, and Eaton Corporation.
Rajeev Kaul, Group CFO and Managing Director, India of Aequs said, “The launch of this new manufacturing facility and our planned investment of an additional $5 million to upgrade the facility over the next two to three years reflect our confidence in India’s ascension as a major automotive manufacturing hub and in our ability to serve the needs of our global customers.”
June 10, 2015 No Comments
The Indian industry association, FICCI in association with the Embassy of India in Berlin and the support of German Embassy in New Delhi organized a panel discussion on “Unleashing opportunities: Indo-German High-Technology Manufacturing” in New Delhi, reports Merinews.
The discussions identified the following sectors to be the most appropriate in the Indo-German context: electronic system design and manufacturing, photonics, IT, automotive, civil aviation and airports, transportation infrastructure, water, renewable energy, heavy engineering, biotechnology, pharmaceuticals, space and defense manufacturing.
A FICCI study reports that
• German companies are favorably inclined to invest in the Indian high-tech market
• India is regarded to be the highest performing country among the BRIC markets
• There is market readiness in India for high-tech products
• India has strong IT and space sector capabilities which will be advantageous for German companies
• Recent Government of India initiatives in FDI, ease of doing business, and infrastructure can significantly impact the business environment in high-tech sectors
Dr. Corinna Fricke, Minister Counselor, head of the economic and commercial division, Embassy of the Federal Republic of Germany, India, said in a statement that an industry delegation would visit India in November 2015, and that the bilateral relations between India and Germany had deepened and there was huge scope for cooperation for the two countries.
June 3, 2015 No Comments
Minnesota-based Stratasys, the manufacturer of 3D printers and 3D production systems for office-based rapid prototyping and direct digital manufacturing solutions, is setting up shop in India. The company inaugurated its first 3D Printing Experience Centre in Bangalore, where its range of professional 3D printers have been displayed.
Since the past ten years Stratasys has sold its products in India through its dealers, and after seeing over 60 percent year-on-year growth in the India business it decided to set up its direct presence.
“India is already one of the fastest-growing markets for us and we expect to see over 50 per cent year-on-year growth in the country for at least the next few years,” Omer Krieger, general manager, Asia Pacific and Japan, at Stratasys, told The Economic Times. Currently, Stratasys sells only its professional range of printers that cost between $10,000 and $600,000 each. Krieger said the company is also planning to bring its consumer printing brand MakerBot to India, which has products starting from $1,375.
May 8, 2015 No Comments