TN attracts $ 168.65 billion worth of investment proposals till June
Tamil Nadu has attracted investment proposals worth $ 168.65 billion for 1,637 projects as of June 2012, with a majority of them going into power and services sectors, according to a study released by the Associated Chamber of Commerce and Industry of India (Assocham). This accounts for around 6.5 % of the total investments made by both the government and private sectors in India as of June 2012.
Elaborating on the status of the projects, the study said that around 48 % of investment projects were under implementation, over 42 % were at the MoU stage and over nine per cent of projects had been stalled or remained without any update information.
(Sources: Economic Times, Business Standard, Times of India, Indiatimes)
Liquor consumption grows 30%: Assocham
The overall liquor consumption in the country is growing at about 30 % compound annual growth rate and is likely to reach about 20,000 million litres in next three years from the current level of about 7,000 million litres. This was revealed by a study titled, ‘India’s emerging imported spirits market’, released by the Associated Chambers of Commerce and Industry of India on Wednesday.
(Sources: Business Standard, Economic Times, Indiatimes, Hindu Business Line)
FDI in multi-brand retail may get rolling after presidential election
The government is likely to revive an order allowing foreign investors to own majority stakes in Indian supermarkets and department stores after the election of a new President later this month, ending uncertainty over a reform initiative that has become a talisman for policy paralysis.
The move is being spearheaded by Anand Sharma, the minister in charge of commerce and industry, who has been sounding out state governments and other stakeholders like traders and farmers to reach a consensus.
(Sources: Economic Times, Indiatimes, IBNLive, Livemint, Worldnews)
Mahindra Two Wheelers opens $ 18.33 million R&D centre
Mahindra Two Wheelers, a part of the USD 15.4 billion Mahindra Group, today inaugurated its $ 18.33 million research and development (R&D) centre here, claimed to be the third largest of its kind in India.
The centre which will be further strengthened with an additional investment of $ 91.66 million in the next five years, will enable Mahindra two wheelers to undertake in-house design and development of engine technology for its motorcycles, said Mahindra Group Vice Chairman & Managing Director Anand Mahindra.
(Sources: Economic Times, the Hindu, Hindu Business Line, Indian Express, Financial Express)
Metro Tyres to invest $ 18.33 million in 5 years to strengthen business
Metro Tyres said it will invest $ 18.33 million over the next five years to strengthen its business in the country, including setting up of a new manufacturing facility.
According to Metro Tyres, the Indian automotive two- wheeler tyre market stands at 30, 00,000 units per month and it is growing 8-10 % per year.
The bicycle tyre market is estimated to be of 2, 29,150 units every month and Metro Tyres has a share of 25 % in it.
Metro Tyres, which has a technological tie up with Germany's Continental, currently supplies its tyres to Honda Motorcycle & Scooter India, Bajaj Auto, Hero Cycles and Avon Cycles.
(Sources: Economic Times, Worldnews, Hindu Business Line, i4u)
DIPP receives overseas investment proposals in single-brand retail from brands like IKEA, Tommy Hilfiger
Over the last three to four months, the Department of Industrial Policy and Promotion (DIPP) has received a slew of applications from overseas for investing in single-brand retail.
The mother of all investment proposals came from Sweden's IKEA Group, which plans to invest $1.9 billion in the country to set up a chain of big-box outlets, a supply chain, and restaurants, among other formats.
Boston Consulting Group (BCG) says India's $1-trillion overall consumption market is set to more than treble to $3.6 trillion by 2020. The country's retail market, worth roughly $528 billion, is expected to more than double to $1,248 billion in the next eight years by which time organised retail is expected to increase its share to $262 billion or 21% of the total pie, according to BCG.
(Sources: Business Standard, Economic Times, Indiatimes, Rediff, Moneycontrol)
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