Category — Market Entry
The United Nations Conference on Trade and Development (UNCTAD) has just confirmed that transnational corporations view India as a top destination for foreign direct investment, next only to the United States and China in that order. The top three rankings remained unchanges from 2012 and are reported on Page 50 of the report which is a no-fee download from the UNCTAD website.
In 2012 – for the first time ever – developing economies absorbed more FDI than developed countries, with four developing economies ranked among the five largest recipients in the world. Developing countries also generated almost one third of global FDI outflows, continuing an upward trend that looks set to continue.
Indonesia, Brazil, Germany and Mexico rank 4th to 7th respectively. Russia’s rank slipped to 11 from 8 last year.
July 6, 2013 No Comments
In the 1700′s big parts of India and America were ruled by the British. Trade drove the Brits to both countries and so it is not surprising that there are connections between America’s fight to become and stay independent and the role of the British.
- The British East India Company had a royal charter to be the only entity to conduct trade with India (and to some extent with China). The Sons of Liberty armed with an assortment of axes dumped 340 chests of British East India Company Tea, onboard the Beaver, Dartmouth, and Eleanor into Boston Harbor the night of December 16, 1773. The cargo was worth more than $1.7 million in today’s money. This was a seminal event in the American Revolution that led to the Declaration of Independence on July 4, 1776. But there is more…
- The British Navy commissioned a Zoroastrian (Parsi) shipbuilder Jamshedji Bomanji Wadia to built a 74-gun teak ship that was launched in 1810 from the Duncan Docks in Bombay (now Mumbai), India. The “HMS Minden” participated in the invasion of the island of Java, then sailed for Great Britain and escorted convoys to the East Indies, the Cape of Good Hope, South America, and the coast of Africa. The ship was in Chesapeake Bay off the cost of Maryland during the War of 1812. Francis Scott Key was imprisoned aboard the Minden when he wrote the poem “The Defense of Ft. McHenry”, which became the lyrics for “The Star-Spangled Banner.”
What this means
The two largest democracies in the world are bound together by ties that go back to the birth of each country as a republic. Stay tuned for an updated closer to August 15, when I will talk about the role of America in India’s Independence movement.
If you have questions about doing business with India, no one in America knows the opportunity and challenge better than my team, see the Amritt website for more.
July 2, 2013 No Comments
East End Foods, a British company based in Birmingham is exporting spices back to India! In a “coals to Newcastle” situation, Jason Wouhra, a director of East End Foods, is quoted in The Hindu newspaper. “At the moment, we have contracts with shops, hotels and restaurants in places such as Delhi and the Punjab. But we can see a huge market potential to expand massively. This is only the beginning,” he said. Two executives from the company had travelled with Cameron’s biggest-ever UK trade delegation to sign the contracts in India.
The British Prime Minister has set a target of doubling trade with India by 2015 and has pegged small and medium-sized enterprises (SMEs) such as East End Foods as the key to achieving that growth. Mr. Wouhra, who was recently appointed chairman of the business group, Institute of Directors West Midlands, believes innovation can bring the Midlands, and Britain, out of recession. East End Foods, which supplies to 80 per cent of independently owned Indian food shops in Britain and many of the supermarket chains, was set up in Wolverhampton 40 years ago.
May 28, 2013 No Comments
St Jude Medical Inc (a global medical device company based in the US) will make its latest technologies available to patients in India. It will launch Quadripolar technology which will help treat patient with heart failure.
According to Kaustav Banerjee, country manager of St Jude, India is a focus market and the company is dedicated to improving the care of patients throughout the country. The firm, which has its India headquarters in Hyderabad, is focusing on educating physicians and patients about the symptoms and potential treatment options for cardiac problems such as arrhythmia, heart failure, sudden cardiac arrest, and heart valve repair and replacements.
April 25, 2013 No Comments
France’s Alstom SA has recently been awarded a $115 million contract by BHEL to supply components for three units of 660 MW supercritical boilers of Nabinagar Power Generating Co. Ltd. NPGCL is a joint venture company of NTPC Ltd. and Bihar State Electricity Board located in Nabinagar, Bihar, India.
Alstom will cooperate with BHEL in designing the boilers and will supply identified pressure parts of the supercritical boilers along with pulverisers and airpreheater components. Alstom will also assist BHEL with technical advisors during the erection and commissioning of the units.
The contract follows the supercritical boiler contract won by Alstom for Mouda last year, and is in addition to six contracts signed with BHEL between 2008 to 2012 for supercritical boilers in Barh II, Krishnapatam, Bara, Yeramaras, Bellary and Mouda in India.
April 18, 2013 No Comments