For the last several months, I watched reports from the India correspondent of my hometown paper, the Los Angeles Times. The doleful Mr. Mark Magnier, it seemed to me, would wake up in Delhi every morning with a thirst for bad, depressing, ugly or unpleasant news. I wondered if an Indian girlfriend had dumped him or something like that.
But I was wrong. Wrong. Mark just wrote a positive (well at non-negative) story about India. I will quote directly so I don’t take away any nuance. Its a quote from Reuters, but nonetheless Mark, thank you for seeing something nice in India. Have a cup of Barista on me. Maybe one of Cafe Coffee Day too. Eventually I will treat you to a Starbucks in India (after the chain’s 95th attemp to enter India)
Italy’s leading coffee roaster Lavazza plans to raise sales in India by 25 percent a year in the next few years thanks to a new coffee plant there as it aims to expand on growing Asian markets, a senior executive said. Lavazza, which bought India’s second-biggest coffee shop chain Barista Coffee Company and coffee vending company Fresh & Honest Cafe in 2007, expects India to become its No. 2 market after Italy in the future and a hub for expansion in Asia. “It will be a long and difficult process, but it is an immense market in the future,” Attilio Capuano, Lavazza’s director for Asia and Pacific region, told Reuters in a telephone interview on Monday.
Lavazza’s 30 million euro ($40.86 million) annual sales in India represent just about 3 percent of total group sales at present but they would rise by 25 percent a year in the next few years as more Indian consumers pick up western habits, including coffee drinking, Capuano said. “We are targeting up to 100 million of potential coffee drinkers. It is an incredible growth potential,” he said.
February 6, 2011 No Comments
Cummins Inc.’s (CMI) fourth-quarter profit climbed a better-than-expected 34% as strong sales in India and other BRIC countries offset weaker demand in the engine-maker’s North American market. The maker of truck engines and power generation systems continues to expect growth, with plans to add about 2,500 U.S. jobs this year after adding only 185 in 2010.
The company’s profit was led by 48% increase in international sales that accounted for 64% of total sales. Sales in India shot up 37% during the year.
February 6, 2011 No Comments
Through most of the last fifty years the United Kingdom has looked to Western Europe and the United States for trade and investment. But no more according to UK Trade and Investment.
Between 2012 and 2014, the top ten export markets for the UK are predicted to be: China (1); US (2); India (3); Libya (4); Ukraine (5); Russia (6); Romania (7); Korea (8); Mexico (9) and Singapore (10). Just one western European country – Sweden – makes it into the top 20, while many of the UK’s biggest trading partners in the West slip dramatically; Germany (30); France (34); Ireland (42); the Netherlands (37); Belgium (44); Spain (47) and Italy (46), according to a report prepared by the Leeds Business School on behalf of the UK Trade and Investment.
February 13, 2010 No Comments
The global slowdown that began last year affected exports from India for a while but the overall mood in the country continued to be upbeat. Quarterly growth also continued so facts and emotions were lined up. In Q3 2009, facts seem to have gotten ahead of emotions as India reported 7.9 % growth, ahead of most expectations. Those who know Indian stats are aware that the numbers are not burnished by govt statisticians (unlike another large country in the area). This is good news for anyone wanting to export to India. See the Financial Times report for more specifics or another report here from the venerable US taxpayer funded Voice of America.
December 3, 2009 No Comments