Automotive Tyre industry to invest up to Rs 10,000-cr by 2013

The domestic tyre industry has lined up investments worth over Rs 10,000 crore between now August 2013. The additional investment is in 19 tyre projects targeted for completion this year. A major chunk of the projects are coming up in Gujarat, Tamil Nadu and Maharastra. Industry experts say that post-2013, with the stabilisation of these projects and the availability of incremental domestic radial capacities, the dependence on Chinese imports would reduce. Despite the worrying macroeconomic indicators and a general slowdown in domestic automotive sales, the Indian tyre industry continued to post a healthy 25-30 per cent revenue growth during the first quarter of 2011-12 supported by strong replacement and export demand," said a report prepared by ICRA. http://www.business-standard.com/india/news/tyre-industry-to-investto-rs-10000-cr-by-2013/448364/

Automotive Hyundai Motor to increase focus on export markets

India's second largest carmaker Hyundai Motor today said it will focus more on the export markets in the coming months to counter low sales in the domestic passenger car segment."Our first priority is always the domestic market, but in the last few months it is quite down."So in order to keep our overall sales momentum intact, we are reviewing our focus on export destinations," Hyundai Motor India Ltd (HMIL) Director Marketing and Sales Arvind Saxena told PTI on the sidelines of the SIAM summit here. HMIL currently exports its products to over 110 countries in Africa, the West Asia, Asia Pacific and the European region.The company had diverted some of its exports volumes earlier this year to meet the growingdomestic demand."We are not going into any new markets for exports, but pushing more volumes in the existing markets where we have been present for the last few years," he said. http://www.business-standard.com/india/news/hyundai-motor-to-increase-focusexport-markets/146192/on

Automotive Volvo to enter medium bus segment

Volvo Buses is looking at a larger share in the city bus segment and is planning to invest Rs 200 crore over the next two years on both new products and add capacity at its Bangalore plant. The company, which has a 75 per cent share in the inter-city AC bus segment (priced Rs 75 lakh-1 crore), is looking to launch medium-segment buses and compete with Tata Motors and Ashok Leyland. Meanwhile, capacity is also being increased by next year to 1,200 units per annum from the current 800 units. Next year we will launch more than two models. We're in talks with several state transport corporations for new orders we are also looking at a larger role in city buses. However, the JNNURM scheme-based orders going away has led to a dip in demand, Mr Akash Passey, MD and CEO, Volvo Buses India, said at the sidelines of the SIAM annual summit on Wednesday. http://www.thehindubusinessline.com/companies/article2432397.ece

Automotive Japanese auto company to invest in Haryana

Japans auto components manufacturer, Aisin Seiki Co Ltd, is understood to have evinced interest in setting up a manufacturing facility in Haryana with a projected investment of Rs 406 crores.As per release issued by Haryana government, Masuji Arai, executive vice president of Aisin Seiki said the company proposed to set up another manufacturing facility for brake parts at an estimated cost of Rs 330 crores for which they would require 20 acres of land. Aisin Seiki is engaged in manufacturing and sale of automotive parts like drive train, body, brake and chassis, engine, information related; lifestyle and energy related products, sewing machines, beds and GHPs and welfare related products. The meeting was held on the sideline of the India-Japan Global Partnership Summit. http://www.business-standard.com/india/news/japanese-auto-company-to-invest-in-haryana/448400/

Consumer Goods Panasonic Home Appliances to widen product portfolio

Panasonic Home Appliances India Co Ltd, a manufacturer of automatic cookers and super grinder mixers, is planning to expand its product line including plans to start manufacturing of food processors in India. The company is presently in the process of doubling its manufacturing capacity in Chennai facility for mixers and cookers with an investment of around $3 million (around Rs 14 crore). We are conducting a feasibility study to enter manufacturing and marketing of food processors. Plans are in the initial stages, said Hidenori Aso, managing director, Panasonic Home Appliances. The food processor, which would be placed in the premium segment of the product category, would be designed for Indian customers, for example, with the addition of an atta kneader which has only use among Indians. http://www.business-standard.com/india/news/panasonic-home-appliances-to-widen-productportfolio/448395/

Electricals Sterlite Grid awards contracts worth Rs 500 cr

Sterlite Grid Ltd has awarded equipment supply contracts to Hyundai Heavy Industries Company Ltd (South Korea), Baoding Tianwei Baobian Electric Company Ltd (China) and Areva T&D India Ltd. Sterlite Grid is the wholly owned subsidiary of Sterlite Technologies Ltd. The contracts have been awarded through the international competitive bidding are for supply of equipment such as 765 kV Transformers and Shunt Reactors and engineering, procurement and construction of two 1,500 MVA (765/400KV) sub-stations. The total value of these contracts amounts to Rs 500 crore.These sub-stations would be set up at Bhopal (Madhya Pradesh) and at Dhule (Maharashtra), which are part of the transmission systems strengthening project awarded to Sterlite Grid Ltd on a 'Build, Own, Operate and Maintain' (BOOM) basis where the transmission lines would be commissioned in 3 years. http://www.thehindubusinessline.com/companies/article2432313.ece

Healthcare US medical devices-maker Welch Allyn plans big India expansion

Welch Allyn, manufacturer of diagnostic products and medical devices, plans to ramp up its presence in India. The US-based company has a range of products such as stethoscope, ophthalmoscope, BP monitors, cardio-pulmonary and thermometry devices. Though the company's products have been distributed in India for the last 30 years, its business from India is less than $3 million. Welch Allyn has drawn up an aggressive five-year strategy to focus on the Indian market, as we target revenues of $5 million by 2015, says Mr Con Hickey, Senior V-P, Japan, Asia Pacific and Africa. http://www.thehindubusinessline.com/companies/article2429971.ece

Others Animation industry to reach Rs 4,375 cr by 2013: study

The Indian animation industry is poised to touch Rs 4,375 crore by 2013, growing at a compound annual growth rate (CAGR) of 23%, driven by a strong demand from entertainment and other sectors, a study said.According to a joint study by industry chamber Assocham and Deloitte, the Indian animation industry is expected to touch Rs 4,375 crore by 2013, from Rs 2,325 crore in 2010. While animation entertainment sector (content for television, films or DVD) comprised 20% of the animation industry, the custom content development and education segment made up 64%. The custom content development and education segment is also expected to see momentum largely due to corporate e-learning programmes and grow at 11% a year, the study said. http://www.business-standard.com/india/news/animation-industry-to-reach-rs-4375-cr-by-2013study/146196/on

Others Manmohan announces duty-free import of 61 items from Bangladesh

Taking the trade route to cement bilateral ties, the Prime Minister, Dr Manmohan Singh, has announced duty-free import of 61 items from Bangladesh that were barred from entering India. A majority of these items 46 to be precise, relate to textiles, particularly readymade garments. Dr Singh, who on his maiden bilateral visit to Bangladesh, said India was fully alive to the problem of trade imbalance between India and Bangladesh. Bangladesh has long complained that trade with India was grossly unequal with India selling about $3 billion in goods to Bangladesh against the latters export of about $400 million business in jute, ammonia and garments. He said India has embarked on a series of measures to improve the border infrastructure for trade and this will facilitate Bangladeshs exports to India and provide it greater opening to India and other neighbouring countries. The Prime Minister said India is also addressing issues relating to non-tariff barriers raised by Bangladesh for the entry of its goods into the Indian market http://www.thehindubusinessline.com/industry-and-economy/economy/article2431754.ece

Media & Entertainment Indian TV industry to grow 14%; to clock Rs 32,000-cr revenue'
Direct-to-Home (DTH) players have been rapidly expanding in rural areas, with more subscribers added there than in urban areas, says a new study by the Associated Chambers of Commerce and Industry of India (Assocham).It says that DTH penetration will climb to 48 million homes by 2015 as compared to 28 million homes currently. Overall, there are now 37 million digital homes, which include DTH, digital cable and Internet protocol television (IPTV). According to TAM Media Research, television penetration in India was 223 million in 2010 and slated to grow to 231 million by 2011-end. The Indian television industry with 600 channels is expected to clock revenues of Rs 32,000 crore by 2011-end with 14 per cent growth over 2010, the study said. India has 150 news channels with the English ones commanding the highest advertising rates due to their connect with the male urban audience. But in terms of numbers, regional entertainment channels are four times as many as national channels. http://www.thehindubusinessline.com/industry-and-economy/marketing/article2427404.ece

Steel NMDC signs pact with BEC for coke oven plant
NMDC has concluded the contract for coke oven package for its three-million-tonne integrated steel plant project at Nagarnar with Bhilai Engineering Corporation (BEC). The total cost of the package is estimated at Rs 1,978 crore, the company said in a statement on Tuesday. Mr N.K.Nanda, Director (Technical) of NMDC, and Mr Arvind Jain, Managing Director of BEC, signed the contract agreement, in presence of Mr Rana Som, CMD of NMDC. The coke oven contract is the largest contract signed by NMDC till date for the integrated steel plant. http://www.thehindubusinessline.com/companies/article2429744.ece

Transportation Bombardier bags 84-m order from Delhi Metro

Bombardier Transportation announced on Monday that it has received an order for 76 additional Metro cars from the Delhi Metro Rail Corporation Ltd (DMRC). The contract is valued at approximately 84 million. Delivery for this order will begin in the third quarter of 2012 and is expected to end in early 2013, said a company release. Delhi Metro Rail Corporation will pay about 1.10 million for a Metro car to Bombardier for the latest order. This is about 4 per cent lower than the average price of 1.15 million a metro car that DMRC has paid for cars from Bombardier till date. Bombardier has already received orders for 538 cars from DMRC, valued at 621 million. http://www.thehindubusinessline.com/industry-and-economy/logistics/article2427004.ece

Transportation DMRC to introduce eight-coach trains from 2013

From six coaches, the Delhi Metro is finally moving towards eight-coach trains. The Delhi Metro Rail Corporation (DMRC) inked a deal on Monday to procure 76 coaches from Bombardier, the company which has already got 460 coaches operating on the Delhi Metro network till date. The 76 coaches will be used to commission the first eight-coach trains on the HUDA city centre-Jehnagirpuri corridor in May 2013. "The contract is valued at approximately 84 million euro ($120 million) and is a follow-on to the orders for 114 vehicles announced in mid 2010. Delivery will commence in the third quarter of 2012 and is expected to end in early 2013, a Bombardier spokesperson said." The order will go a long way towards easing the expanding network of the Metro, which has been getting increasing complaints of over-crowding , especially on the Gurgaon line. The Gurgaon and Noida/Vaishali lines are the most crowded corridors and carry over 15 lakh people a day. http://www.ibef.org/artdisplay.aspx?tdy=1&cat_id=60&art_id=29775