Sephora Expands Footprint in India

With demand on the rise for premium products in India, French beauty and cosmetics retailer Sephora, is increasing its outlets in India. Sephora India, a partnership between Moet Hennessy Louis Vuitton and India’s Arvind Ltd, operates through 13 company-owned stores across metros. It plans to add at least ten more stores in the next fifteen months to tap the growing market.

Chief executive of  Sephora India, Vivek Bali, says that a large number of customers are graduating from the value segment to premium cosmetics and grooming products.  Additionally, the increase in the number of women joining the workforce, along with the rise in purchasing power, are factors that drive growth in the segment. “If the overall market is growing at 18 percent, the premium end is growing faster at around 28 percent,” he said.

Sephora India Sales 2017 - Legend

Sephora’s India Business 2017

LegendThe country’s beauty cosmetics and grooming market, which is estimated at $8 billion, is growing at a compounded annual growth rate of 18 percent. According to trade body ASSOCHAM, India’s beauty cosmetics and grooming market is expected to touch $35 billion by 2035.

January 11, 2018   No Comments

U.S. Tops All Destinations for India’s Engineering Products

Engineering Export Promotion Council of India — the apex body for Indian engineering exporters — says that the demand for Indian engineering goods in many of the developed economies and especially in the U.S. has increased sharply.

Shipments of engineering exports to the U.S. went up 91 percent to $1.53 billion in September 2017 from $551 million in the same month last fiscal year; the April-September exports increased by over 47 percent to $4.79 billion from $3.25 billion for the same period last year.

Gears

European nations falling under the top 25 engineering export destinations such as Germany, Italy, Belgium, Netherlands, France, and Poland also recorded considerable growth. Engineering exports to Germany saw a jump of over 67 per cent to $288 million in September 2017 over $172 million in the same month last fiscal. Likewise, the shipments to Italy rose by 30 percent to $209 million from $161 million for the same period last year, reports The Hindu.

 

November 8, 2017   No Comments

Dassault Brings Largest Defense FDI to India

Dassault will emerge as the single largest FDI investor in the defense sector. The cumulative FDI in the defense sector in India till date is $6 million,” Rajesh K. Dhingra, president, Reliance Defense & Aerospace, said at an interview with the Economic Times.

France’s Dassault will manufacture a significant part of Rafale aircraft in India. The first tranche of $29 million  intended for the manufacture of aircraft components for global markets is likely to come into the Dassault-Reliance Aerospace Limited joint venture by July. The investment is part of Dassault’s obligations on Make in India commitments against the $9 billion Rafale fighter jet deal.

Rafale Jet

The JV will create infrastructure at the Mihan facility in the state of Maharashtra. The plan is to set up a 100-acre facility that will integrate a supply chain for the Rafale fighter jet in India. The ground breaking ceremony is planned for the end of July.

June 9, 2017   No Comments

Airbus Sets Up Asia’s First Greenfield Training Center in Delhi

Toulouse, France-based Airbus is setting up the Airbus India Training Center, a greenfield training facility at Aerocity, New Delhi, to support India’s growing need for Airbus pilots and maintenance engineers. The 75,347 square foot facility will be built in modules to become operational by the end of 2018 with two A320 full flight simulators, increasing to four and potentially to six simulators at the right time.

India is the fastest growing domestic aviation market in the world and is expected to grow at an annualized 9.3 percent over the next 20 years, outpacing the world average of 4.6 percent. The number of trips per capita in India is expected to increase four times by 2035. Airbus forecasts a requirement for at least 1,600 new passenger and freight aircraft by this period, requiring over 24,000 new pilots and maintenance engineers, reports the Media India Group.

Airbus Training Center in India pictograph

Tom Enders, CEO, Airbus said, “We have only scratched the surface when it comes to the growth of civil aviation in India. This training center will be the first such facility fully owned by us in Asia. It is a symbol of our enduring partnership with this country.”

June 8, 2017   No Comments

India Tops in Trust of Institutions in Global Report

An online survey of more than 33,000  respondents conducted between October 13 and November 16, 2016 by Edelman, the world’s largest public relations firm, and reported in the 2017 Edelman Trust Barometer, revealed that trust is in crisis around the world, and the largest-ever drop in trust was recorded across the institutions of government, business, media and NGOs.

Among the 28 nations surveyed, India emerged as the most trusted nation in terms of institutions with 72 per cent of the respondents from the general population feeling so. The country is followed by Indonesia (69 per cent), China (67 per cent), Singapore and UAE (both at 60 per cent), reports the Economic Times.
'Trust' written in sand
Other Key Findings:
  • The Indian government is the second most trusted  by its own citizensafter China
  • Of the 28 countries, there was distrust in government in 75 percent of them
  • Trust levels decreased to 47 percent this year from 50 percent in 2016
  • CEO credibility dropped 12 points globally to an all-time low of 37 per cent, plummeting in every country studied
  • Government leaders remain least credible
  • Trust in business dropped in 18 countries, while NGOs  saw drop-offs as high as 10 points across 21 countries
  • Half of the countries surveyed have lost faith in the system, led by France (72 percent) and Italy (72 percent), Mexico (67 percent), South Africa (67 percent) and Spain (67 percent)

February 7, 2017   No Comments