Category — Market Entry

LyondellBasell to Acquire SJS Plastiblends of India

Houston-based LyondellBasell Industries announced that it has entered into a definitive agreement for the acquisition of SJS Plastiblends Pvt. Ltd., a polypropylene compounds manufacturer, located in Aurangabad in the western state of Maharashtra, India reports CNN Money.

“This acquisition will expand our global PPC manufacturing footprint and allow us to better compete in the long-term growth of India’s automotive market ,” said Bhavesh V. (Bob) Patel, CEO and chairman of the management board of LyondellBasell.

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August 15, 2015   No Comments

CDI Announces Definitive Agreement to Acquire ScaleneWorks, India

Philadelphia-based CDI Corporation announced a definitive agreement to acquire ScaleneWorks People Solutions LLP, a privately held company headquartered in Bangalore, India that provides talent acquisition solutions. The financial terms of the transaction were not disclosed. The closing of the deal is subject to certain conditions, including regulatory approval by Indian authorities, and the acquisition is expected to be immediately accretive to adjusted earnings when completed, but not material to current year financial performance, reports CNN Money.

“The acquisition of ScaleneWorks represents an important step in our plan to expand selectively our footprint to high growth markets and offer new and existing clients additional value-added services,” said David Arkless, executive vice president and president of CDI International.

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August 15, 2015   No Comments

In India, Wal-Mart Goes Wholesale

Two years after scrapping plans to open retail outlets across the world’s second-biggest consumer market, Wal-Mart plans on becoming a major wholesaler in India. Last year it appointed Krish Iyer, as its new chief executive in India as it shifted its focus to the country’s $300-billion wholesale industry.

Since there are no restrictions on foreign ownership of wholesale “stores”, Wal-Mart has fashioned itself a partner to India’s traditional mom-and-pop grocers by opening its first new Best Price Modern Wholesale store in India this month. It plans to expand to 70 such stores in five years.

Urban India’s culture and geography favors the corner grocer. Most Indians prefer fresh fruits and vegetables, and in large cities where kitchens can be small, people tend to shop every day or two rather than store large quantities at home.

“Wal-Mart is making the most out of what’s available and ensuring it does build up a workable, scalable business model in India,” said Devangshu Dutta, chief executive of Third Eyesight, “As and when the regulations evolve, they could step into a direct retail operation.”

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August 8, 2015   No Comments

Where Will Amazon’s Biggest Market outside U.S. Be?

Retail giant Amazon is planning to invest $5 billion to turn India into its biggest market outside the U.S., the Economic Times reports.

Amazon has completed two years in India, where its business is now worth at least $2 billion in gross merchandise value on the e-commerce side, and includes fast-growing revenue from top Amazon Web Services customers in the country. Amazon chief executive and founder Jeff Bezos said, “After our first year in business, the response from customers and small and medium-sized businesses in India has far surpassed our expectations.”

Time reports that e-commerce is booming in India, with one recent study forecasting a 67% hike in average annual spending on online purchases in 2015. The report, created by Indian industry body ASSOCHAM and consulting firm PricewaterhouseCoopers, also said that the country’s e-commerce industry was likely to increase in value from some $17 billion in 2014 to $100 billion by 2019.

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August 8, 2015   No Comments

GM Will Invest $1 Billion in India

The Detroit car maker General Motors Co., said that it will invest $1 billion over the next few years to turn India into a global export hub. This investment will be part of a $5 billion commitment to develop a global family of Chevrolet vehicles along with Shanghai Automotive Industry Corp the state-owned Chinese auto making company.

In India the plan is to produce 10 new Chevy vehicles in the next five years, beginning with the Trailblazer this October and Spin MPV in early 2017, says The Detroit News. GM hopes that the new vehicles will help Chevy double its 1.8 percent market share in India by 2020 when the country is expected to become one of the world’s three largest auto markets.

“With this investment we plan to tap India’s potential as a market and as a low-cost manufacturing base for the future,” GM’s chief of international operations, Stefan Jacoby said, adding that India will likely compensate for the slowdown in China.

 

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August 6, 2015   No Comments