Ahmedabad: A German Indian business centre (GIBC) has been proposed in the state to facilitate business opportunities between Germany and Gujarat for setting up of offices, technology transfers and joint ventures.
The centre will facilitate investment between companies in Germany and Gujarat. Among other activities, GIBC will facilitate acquisition of German companies for Gujarat companies along with taking care of due diligence. The centre will also scout for and register technology partners in both countries.
"Germany is the largest trading partner of India in the European Union (EU). Despite the financial challenges in EU, trade is increasing between the two. The proposed GIBC in Gujarat will act as a bridge between Gujarat and Germany," said Jagat Shah, founder, Global Network, an international trade consulting firm based in Ahmedabad.
GIBC's focus will be on sectors like energy including renewable, automotive, life sciences, engineering, laser optics, ICT, innovation, research and education.
Other activities of GIBC will include facilitating education, innovation and research in cutting edge sectors while also exposing Gujarat and German companies to the culture and business etiquette of each other.
The centre will provide information to German companies on procedures to set up business in Gujarat and vice versa. GIBC will also arrange sector wise, monthly video conference meets between companies in Gujarat and Germany.
For the Vibrant Gujarat Global Investors' Summit 2013, GIBC will bring a delegation from Germany with a focus on education and business.
The centre is also in the process of finalizing a monthly newsletter to be circulated in Gujarat and Germany.
As a pre-event towards establishing GIBC, a sensitization event will be held in Ahmedabad on Saturday, where Wolfgang Holtgen, director of GIBC from Germany will be presenting the opportunities available to Gujarat based companies for doing business in Germany.
Success in my Habit
Monday, July 16, 2012
India, China lead growth of global economy: Standard Chartered
New Delhi: Emerging economies India and China are leading the global economy on a '32-62-72' growth path, according to Gerard Lyons, Chief Economist, Standard Chartered Bank. "Despite the crisis in the West, the world economy continues to grow, led by the likes of China and India," as per Lyons.
Lyons used the numeric phrase '32-62-72' for evolving economic size of the world. Explaining the phrase, the Chief Economist said the global economy had increased from US$ 32 trillion in 2000 to just under US$ 62 trillion on the eve of the crisis and, in nominal terms, it is set to reach US$ 72 trillion at the end of this year.
"The shift in the balance of power continues to make the global economy bigger and, in doing so, provides markets for countries and firms in the West to sell into," according to an internal publication of the bank titled, Standard Chartered Asia Focus.
While Lyons acknowledged the contributions made by emerging countries such as India and China in the growth of world economy, he also stressed on the need to implement reforms and to move up the value curve in the developing economies.
Lyons used the numeric phrase '32-62-72' for evolving economic size of the world. Explaining the phrase, the Chief Economist said the global economy had increased from US$ 32 trillion in 2000 to just under US$ 62 trillion on the eve of the crisis and, in nominal terms, it is set to reach US$ 72 trillion at the end of this year.
"The shift in the balance of power continues to make the global economy bigger and, in doing so, provides markets for countries and firms in the West to sell into," according to an internal publication of the bank titled, Standard Chartered Asia Focus.
While Lyons acknowledged the contributions made by emerging countries such as India and China in the growth of world economy, he also stressed on the need to implement reforms and to move up the value curve in the developing economies.
Saturday, July 14, 2012
US-based CritiTech sets up joint venture with Finoso Pharma
Hyderabad: US-based drug development player CritiTech Inc, which is focused on super critical fluid technology, has joined hands with Hyderabad-based formulation development services company Finoso Pharma Pvt Ltd to set up a 50:50 joint venture - Finotech Pharma.
The joint venture (JV) company, which will have its business office in the US, is being set up with an initial investment of $1 million. Finotech Pharma will provide alternative API size reduction technology and particle design services to pharma companies to meet their R&D and early clinical trial supply needs. These particles are used in a range of formulated products that can be delivered through oral dosage forms, intravenous suspensions and inhalation.
As part of the JV agreement, Finoso Pharma will be contributing its existing facility and its 30 scientists based out of Hyderabad, while CritiTech will provide specialized fine particle production equipment, new techonologies, technical expertise and business and marketing support.
The two companies will be jointly working to develop products for oncology, lung diseases, pain management, neurotic segment as well as other therapeutic areas and hope to generate revenues largely from royalties on the final patented product and API development processing fee. The JV hopes to develop atleast three molecules each year.
"This joint venture is a strategic opportunity for both the companies. By combining our experience in the domestic and international product development market with CritiTech's technology and expertise, our clients will recieve a higher level of service and new drug delivery options for their products,"" said Finoso Pharma managing director Kumar Kurumaddali said.
"CritiTech is pleased to be expanding the access to its technology in India to address emerging needs and improve access to technology that enables different drug delivery options,"" CritiTech CEO Dr David Johnston said.
The joint venture (JV) company, which will have its business office in the US, is being set up with an initial investment of $1 million. Finotech Pharma will provide alternative API size reduction technology and particle design services to pharma companies to meet their R&D and early clinical trial supply needs. These particles are used in a range of formulated products that can be delivered through oral dosage forms, intravenous suspensions and inhalation.
As part of the JV agreement, Finoso Pharma will be contributing its existing facility and its 30 scientists based out of Hyderabad, while CritiTech will provide specialized fine particle production equipment, new techonologies, technical expertise and business and marketing support.
The two companies will be jointly working to develop products for oncology, lung diseases, pain management, neurotic segment as well as other therapeutic areas and hope to generate revenues largely from royalties on the final patented product and API development processing fee. The JV hopes to develop atleast three molecules each year.
"This joint venture is a strategic opportunity for both the companies. By combining our experience in the domestic and international product development market with CritiTech's technology and expertise, our clients will recieve a higher level of service and new drug delivery options for their products,"" said Finoso Pharma managing director Kumar Kurumaddali said.
"CritiTech is pleased to be expanding the access to its technology in India to address emerging needs and improve access to technology that enables different drug delivery options,"" CritiTech CEO Dr David Johnston said.
Carl Zeiss opens development unit in Bangalore
Carl Zeiss has been present in India since1998,butlargely as a sales and service business. The company manufactures an array of products ranging from prescription spectacle lenses to diagnostic and surgical equipments that are used in the fields of ophthalmology, neuro-surgery and cancer treatment, and in camera lenses. It also manufactures precision measurement tools that are used in the auto, aerospace, and power sectors, besides manufacturing equipments required for the manufacture of integrated chips.
Speaking exclusively to TOI before inaugurating the company'sBangalorecampus, Michael Kaschke, president and CEO of Carl Zeiss AG, said, "The investment into developing the infrastructure at our campus is Rs 30 crore." He added that the company's total investment in India, which includes acquisition of assets, is 25 million euro over the past 8 years. The R&D, which has the abbreviated name CARIn ( Center for Applications and Research in India), will focus on the medical technology sector andlooktodevelop medical equipments tailored to the Indian market requirements.
"In ophthalmology,thereis an 80% chance that a doctor in India would be using Zeiss equipment," said Kaschke. The company won't be manufacturing medical equipments in India,butthe medicalequipment portfolio contributes a high percentage to its India revenueof Rs 600crore.
"I foresee that in India, by 2015-16, we will have 1,000 employees (from 300 at present) and our revenues would cross Rs 1,000 crore," said Kaschke, and added, "India is evolving into a strategic business segmentof theZeissGroup."
On the manufacturing front, the company has established an assembly line that would assemble precision measurement tools. But the biggest space allocation at the company's Electronics City campus would be for the setting up of a prescription spectacle lens manufacturing facility.The manufacturing facility will have an installed capacity to produce 2,000 lenses a day, which could be scaled up to produce12,000lenses per day. V Srinivasan, MD, Carl Zeiss India, said, "Some 500 million people needeye glasses in India. But the addressable market, meaning, people who can afford to buy them is only 125 million."
System to monitor PPP projects okayed
New Delhi: To ensure timely completion of projects undertaken in public-private partnership (PPP) mode, the government on Thursday decided to set up an institutional mechanism to oversee contract performance during the construction stage. The mechanism will also monitor a project in the post-construction usage stage. It will have a two-tier system — Projects Monitoring Unit and Performance Review Unit . Later, Planning Commission Deputy Chairman Montek Singh Ahluwalia said he wanted to make these reports public. Adding: “I am in favour of putting these in public domain. I will get the Prime Minister's approval.”
Other clearances
The Cabinet on Thursday approved the Modified Special Incentive Package Scheme for the electronics sector under which, the government will provide up to Rs 10,000 crore in benefits to the industry over the next five years for promoting production of electronics components. It also approved a Rs 648-crore project in Uttar Pradesh for widening the Rai Bareli-Jaunpur highway section.
Other clearances
The Cabinet on Thursday approved the Modified Special Incentive Package Scheme for the electronics sector under which, the government will provide up to Rs 10,000 crore in benefits to the industry over the next five years for promoting production of electronics components. It also approved a Rs 648-crore project in Uttar Pradesh for widening the Rai Bareli-Jaunpur highway section.
BPCL, LG Chem ink MoU for petrochemical project
Coimbatore: Bharat Petroleum Corporation Ltd (BPCL) and LG Chem, South Korea, today signed a MoU to establish a petrochemical plant adjacent to BPCL’s Kochi refinery complex at an estimated investment of Rs 4,000-6,000 crore.
BPCL in a release said that it would be investing nearly Rs 14,000 crore over the next five years in expanding its Kochi refinery.
As part of this project, it would be establishing a petrochemical fluid catalytic cracker to generate 500 TMTPA of propylene. This would offer BPCL a launch pad for diversification into petrochemicals.
Completion of the project would be dovetailed into the refinery expansion project.
BPCL in a release said that it would be investing nearly Rs 14,000 crore over the next five years in expanding its Kochi refinery.
As part of this project, it would be establishing a petrochemical fluid catalytic cracker to generate 500 TMTPA of propylene. This would offer BPCL a launch pad for diversification into petrochemicals.
Completion of the project would be dovetailed into the refinery expansion project.
New Zealand-India pact to boost bilateral trade
Hyderabad: New Zealand and India bilateral trade is poised for big spurt with more businesses looking at cooperation and the possibility of expanding the number of goods.
“The discussion on the Free Trade Agreement is progressing well. We hope this would be finalised at the earliest. Most negotiations relating to FTA are complex and they take time to conclude,” Mr Gavin Young, New Zealand Counsel General and Trade Commissioner, said.
Mr Young told Business Line, “The bilateral trade between India and New Zealand has been growing with the latter’s exports to India going up by 6.55 per cent year on year and exports from India to New Zealand increasing by over 8.7 per cent. While the current two-way trade is $1.3 billion, the target is to take it up to $3 billion by 2014.”
“Our experience with China shows that a comprehensive agreement opens up trade. The bilateral trade has increased 152 per cent with China which has become New Zealand’s second largest trading partner,” he explained.
Clean technology is one area where there is immense scope for mutual cooperation. These could be conversion of waste gases into ethanol as a renewable energy fuel which is being tested in Mumbai.
“Zespri Kiwifuit and Pure Apples are gaining popularity here. We expect to take part in the Indian retail growth story as it blossoms,” he said.
Iron Sands
New Zealand has abundant high grade iron sands that can be a replacement for iron ore used in the steel industry. There is scope to acquire licences around mining the product, or partnering in a joint venture or investment to create a plant to produce a feedstock for steel mills.
There is potential to supply wood for construction sector.
Recent statistics shows that the trade volume increase in fruit and commodities such as metals. There are opportunities to partner in number of areas, including food and agricultural technology, IT, wood and building, specialised manufacturing, aviation training and services.
“The discussion on the Free Trade Agreement is progressing well. We hope this would be finalised at the earliest. Most negotiations relating to FTA are complex and they take time to conclude,” Mr Gavin Young, New Zealand Counsel General and Trade Commissioner, said.
Mr Young told Business Line, “The bilateral trade between India and New Zealand has been growing with the latter’s exports to India going up by 6.55 per cent year on year and exports from India to New Zealand increasing by over 8.7 per cent. While the current two-way trade is $1.3 billion, the target is to take it up to $3 billion by 2014.”
“Our experience with China shows that a comprehensive agreement opens up trade. The bilateral trade has increased 152 per cent with China which has become New Zealand’s second largest trading partner,” he explained.
Clean technology is one area where there is immense scope for mutual cooperation. These could be conversion of waste gases into ethanol as a renewable energy fuel which is being tested in Mumbai.
“Zespri Kiwifuit and Pure Apples are gaining popularity here. We expect to take part in the Indian retail growth story as it blossoms,” he said.
Iron Sands
New Zealand has abundant high grade iron sands that can be a replacement for iron ore used in the steel industry. There is scope to acquire licences around mining the product, or partnering in a joint venture or investment to create a plant to produce a feedstock for steel mills.
There is potential to supply wood for construction sector.
Recent statistics shows that the trade volume increase in fruit and commodities such as metals. There are opportunities to partner in number of areas, including food and agricultural technology, IT, wood and building, specialised manufacturing, aviation training and services.
Thursday, July 12, 2012
India is among the three most important markets for us: Renault India
"Duster promises to give comfort and sophistication of sedan and robust and ruggedness of SUV. It is perfectly matches with the taste of people here. We are quite optimistic about our success from Rajasthan" said said Len Curran, vicepresident, sales and marketing, Renault India.
Rajasthan contributes 4-5% of total sales for the company. In the state, base model with petrol engine in tagged at a cost Rs 7.33 lakh (ex-showroom). The diesel engines will be available in two variants - 1.5 liter and 1.6 liter both priced between Rs 7.33-8.19 lakh and Rs 8.15 lakh and 11.29 lakh respectively.
Commenting on the strategy for quick successive launches Curran said "India is among the three most important markets for us. All the European auto makers are looking for markets outside and obvious choices are Russia, China and India".
He added "For us India is very important as the market here is growing very fast. We promised to give 5 cars before the end of 2012. To ensure that Indian customers get the high class services we are selective in choosing our dealers".
After breaking its relationship with Mahindra, company is focusing on building its brand awareness. The successive launches are aimed at positioning Renault as a complete brand. "After our separation with Mahindra the biggest challenge was to establish our self as a complete carmaker. We have successfully accomplished that task. Our next target is to make achieve the target sales of 10,000 cars by 2013" said Curren.
Company is eyeing the other Asian markets too. From its manufacturing facility at Chennai Renault will export its cars to the neighboring countries. However the lack of dealers network and poor performance in European markets may well go against the company's target.
Agila Specialties to launch injectable generic drugs in Canada
This will be done through a joint venture with Canadian company Jamp Pharma; Agila will hold 70 per cent stake in the new company Agila-Jamp Canada Inc.
The new venture will launch 40 products in the next two years, the company said in a statement to the BSE.
“Many of the products will be immediately launched through local hospitals and pharmacists, and the existing sales force at Jamp Pharma will be responsible for introducing the entire Agila-Jamp product portfolio,” the company said in the statement.
Mutual funds, precious metals top investment tools for Indian online consumers- Nielsen survey
Mumbai: According to a study by market research firm Nielsen, over two in five online Indian consumers make investments in some form or the other. While 64% of them made investments in mutual funds, 63% of them pumped in their savings into precious metals while 56% of investments were made in stocks and 40% in bonds making up the top four favoured asset classes for the purpose of investments by online Indian consumers.
The Nielsen global survey of investment attitudes surveyed more than 28,000 internet respondents in 56 countries and showed that in India, online consumers make their own decisions when it comes to investments.
Around 16% of respondents indicated they would take the advice of friends, relatives and colleagues while making financial decisions.
"As opposed to the average Indian customer, online consumers in India appear to be far less dependent on others in decision exhibiting a marked independence in being self sufficient, and not entirely trusting of people around them." said Subhash Chandra , director, Nielsen India.
The increasing popularity of mutual funds as an important investment tool is fuelled by the aware online consumer, who sees great benefit in systematic investment plans on offer now, Chandra said.The Indian consumer continues to be enamoured by precious metals for traditional purposes, as well as investments, as they are seen to be profitable over the years.
According to the survey, almost four of five (77%) of online consumers in India conducted their transactions at the branch of their favoured bank. About 68% of respondents said they used online banking facilities, while 42% used the mobile phone for their banking needs.
Less than two in five (37%) of online respondents indicated that they use the landline phone or financial planners for their banking and investment needs.
When it comes to paying for general shopping, dining, traveling or entertainment, online consumers in India prefer to pay by cash (78%), followed by payments via debit cards (56%). Less than two in five (37%) of the respondents indicated they used credit cards, the surbey findings said.
The Nielsen global survey of investment attitudes surveyed more than 28,000 internet respondents in 56 countries and showed that in India, online consumers make their own decisions when it comes to investments.
Around 16% of respondents indicated they would take the advice of friends, relatives and colleagues while making financial decisions.
"As opposed to the average Indian customer, online consumers in India appear to be far less dependent on others in decision exhibiting a marked independence in being self sufficient, and not entirely trusting of people around them." said Subhash Chandra , director, Nielsen India.
The increasing popularity of mutual funds as an important investment tool is fuelled by the aware online consumer, who sees great benefit in systematic investment plans on offer now, Chandra said.The Indian consumer continues to be enamoured by precious metals for traditional purposes, as well as investments, as they are seen to be profitable over the years.
According to the survey, almost four of five (77%) of online consumers in India conducted their transactions at the branch of their favoured bank. About 68% of respondents said they used online banking facilities, while 42% used the mobile phone for their banking needs.
Less than two in five (37%) of online respondents indicated that they use the landline phone or financial planners for their banking and investment needs.
When it comes to paying for general shopping, dining, traveling or entertainment, online consumers in India prefer to pay by cash (78%), followed by payments via debit cards (56%). Less than two in five (37%) of the respondents indicated they used credit cards, the surbey findings said.
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