สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 28 กันยายน 2555
TVS Automobile Solutions forms joint venture with ABC Bearings for Gujarat
TVS Automobile Solutions Ltd (TVS ASL) today announced its joint venture with the ABC Bearing Group for Gujarat.
The joint venture called 'MyTVS', has a 70 % stakeholding by TVS ASL, while ABC Bearings has a 30 % stake.
The company plans to achieve an ambitious turnover of $ 94.43 million, with 46 outlets in the Southern region and eight outlets in the National Capital Region (NCR) over the next two years.
According to industry estimates, the after sales multi-brand car servicing industry is pegged at around $ 4.53 billion.
(Sources: Economic Times, Zeenews, Hindu Business Line, Moneycontrol)
Starbucks to open first India store by end-Oct
Starbucks Corp will open its first coffee shop in India by the end of October, John Culver, President, China and Asia Pacific, said on Friday, in the latest delay to a much-hampered entry into the country.
Starbucks had initially planned to have its first cafes in India open by mid-2011 but was delayed by difficulties in acquiring real estate and high land costs. It said in January it would have stores open by August or September.
(Sources: Business Standard, Economic Times, Reuters India, BBC News)
Domestic steel prices to remain under pressure: Bank of America-Merrill Lynch report
Steel stocks may have rebounded from recent lows on macro news flow including China's economic stimulus and the policy reforms in the country but domestic steel prices are expected to remain under pressure.
This will be largely due to weak domestic fundamentals and rising threat of imports, according to Steels-India, a research report by Bank of America-Merrill Lynch.
(Sources: Economic Times, Wall Street Journal, Indiatimes, Zeenews, IBNlive)
Hirotec to invest $7.5 million in India unit
Hirotec Group, global leader in the production car doors, to invest an additional $7.5 million to create an integrated global engineering centre of excellence and manufacturing facility in its existing unit in the city, a top company official said today.
On financial performance, President Hirotec India Takahiro Hayama said Indian operations have made a turnover of $ 5 million in 2011-12, which has increased to $ 10 million in 2012-13 so far.
(Sources: Economic Times, Indiatimes, Hindu Business Line, Zeenews)
FDI in retail will offer market, bring crop diversification, feel farmers
Amid divided views on the decision to allow FDI in multi-brand retail, farmers in Punjab, who have been supplying their produce to big companies like 'Field Fresh, 'Easy Day' and 'Tata Khet Se' feel the move will ensure sourcing of farm produce in bulk and better pricing.
They were also of the opinion that it will encourage much needed crop diversification in the state.
(Sources: Economic Times, Hindustan Times, Hindu Business Line, i4u, Indiatimes)
Mega leather clusters to generate 10k jobs in UP
To boost the state’s leather industry and attract investment of about $ 378 million, Uttar Pradesh Chief Minister Akhilesh Yadav on Thursday approved two greenfield mega leather cluster (MLC) projects.
Each of the clusters is projected to get investments of $ 188 million. They will collectively create employment opportunities for 10,000 people. Half of the units would belong to the small and medium segment.
Yadav gave an in-principle approval to the clusters after meeting a delegation of leather industrialists from Kanpur. He assured all possible help from the state government to develop these clusters and directed the UP State Industrial Development Corporation (UPSIDC) to make land available for the projects.
(Sources: Business Standard, Moneycontrol, Times of India, i4u)
Royal Thai Embassy