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
Euromonitor International, a provider of strategic market research, says that emerging market consumers are still spending a good amount of cash on beauty and personal care. Value sales across emerging markets were up almost 10% in 2014 over the previous year at fixed U.S. dollar prices. However, annual growth did not reach double-digit levels for the first time in more than a decade.
GCI reports that global beauty and personal care brands are now faced with a more reticent China, where the consumption culture of its mid-income consumers is changing; a more cash-strapped Brazil as the Brazilian economy is veering toward recession, and a more inward-looking Russia. Will India be the new China? GCI asks, since it was one of the best performing emerging markets for beauty and personal care in 2014, with retail sales climbing 15% from 2013.
India has some of the best growth prospects over the next five years from among all the emerging markets. India’s economy is notably being boosted by lower oil prices, and increasingly beauty-conscious urban consumers will have the money to spend on beauty products. These trends bode well for beauty and personal care categories such as deodorants, color cosmetics and men’s grooming.
June 25, 2015 No Comments
Speaking at the J.P. Morgan Healthcare Conference, Mike Mahoney, CEO of Boston Scientific a Marlborough, Mass.-based medical device company, said the company derived about 10% of its total sales from emerging markets in Brazil, Russia, India and China during the 3-months ended Sept. 30, 2014 — an 18% increase from the same period in 2013.
Mass Device reports that Boston Scientific is looking double its emerging markets presence over the next 2 years as it seeks to catch up with larger competitors; therefore expanding its presence in emerging markets is one of five strategic imperatives Mahoney said the company is putting forward in 2015 and beyond.
May 1, 2015 No Comments