Luxembourg – $223.4 billion
India – $118.2 billion
April 13, 2017 No Comments
Noida, India-based automotive component firm Motherson Sumi Systems, a joint venture between its parent Samvardhana Motherson Group and Sumitomo Wiring Systems of Japan, acquired Finland’s PKC Group Plc for about $609 million.
“We are very happy to announce that we have successfully acquired 93.75 per cent shareholding in the PKC Group, which has significant market presence in the American and European markets with major growth plans in China,” chairman Vivek Chaand Sehgal of Motherson Sumi said in a statement. The acquisition will expand the company’s footprint significantly in the commercial vehicle segment.
Headquartered in Helsinki, Finland, PKC is a global tier 1 supplier of wiring harness and associated components to original equipment manufacturers in the heavy and medium duty commercial vehicles and locomotive segments across North America, Europe, Brazil and China, reports Livemint.
April 3, 2017 No Comments
More than three million cars were sold last year in India, a 6.4% increase over 2014, according to Euromonitor. Sales are expected to grow by 4.7% in 2016 as buyers are encouraged by lower fuel prices and reduced interest rates, reports CNN Money.
“We are going to see a flood of crossovers hitting the market,” said Anil Sharma, principal analyst at IHS Automotive. These models — half sedan and half SUV — appeal to consumers looking to make a lifestyle statement.
Indian consumers are very sensitive to shifts in economic conditions. For the vast majority of the country’s 1.3 billion citizens, cars are still a luxury product. Prices are also low compared to the global average: A new car can cost as little as $3,000.
Neil King, auto analyst at Euromonitor, says India has the potential to leapfrog Brazil, Germany and even Japan to become the third largest car market by 2030.
February 13, 2016 No Comments
32 percent of 505 global investors named India as the favored market for investment according to a survey published by accounting firm Ernst & Young. China was second with 15 percent of the vote, followed by S.E. Asia, Brazil and N. America.
“There is no doubt that interest in India has increased,” Mark Otty, Ernst & Young area managing partner for Europe, Middle East, India and Africa said. “Investors increasingly see the potential and understand the fundamentals.” Industrial policy secretary Amitabh Kant said that the government was “determined to make India an extremely easy and simple place to do business. Our first priority is to do away with the many procedures and rules, followed by bringing in consistency and clarity in all our policies and tax regime and developing a world-class infrastructure.”
Channel NewsAsia reports that according to Financial Times data service, fDi Markets, Greenfield foreign direct investment (new ventures) in India rose 32 percent to $25 billion in 2014 after declining in the previous two years.
November 10, 2015 No Comments
In the September release of the Composite Leading Indicators (CLIs) that are designed to anticipate turning points in economic activity relative to trend, the Paris-based Organization for Economic Cooperation and Development (OECD) said India is expected to see “firming growth”.
As reported on their Website, the CLIs signal stable growth momentum in the Euro area particularly in Germany and Italy, while growth is firming in France. Stable growth momentum is also anticipated in Japan.
In Canada as well as in the United Kingdom and the United States, growth momentum is anticipated to moderate albeit from relatively high levels.
The outlook continues to deteriorate for China, with the CLI pointing more strongly to a loss of growth momentum. Signs of slowing growth momentum are also re-emerging in Russia. In Brazil, weak growth momentum is anticipated.
October 12, 2015 No Comments