Ahmedabad: Goa based diversified Dempo group controlled Dempo Shipbuilding & Engineering announced to have acquired majority stake of 74% in Modest Infrastructure Ltd, a shipbuilding and ship repairs space in Bhavnagar, Gujarat. The group did not reveal the value of the deal.
Modest Infrastructure is the flagship company of Modest Group promoted by Bhavnagar based first generation entrepreneurs. A recent entrant in the private shipyard space, Modern Infrastructure has expertise to build sophisticated vessels such as product tankers, cement carriers, offshore supply and survey vessels of size up to 6000 dwt.
Apart from the existing Shipyard at Ramsar in Bhavnagar, Modern Infrastructure is in the process of developing a new shipyard at Ratanparwith capability of building and repairing ships up to 50000 dwt.
Dempo Shipbuilding has been engaged in shipbuilding and ship repairs for over four decades. It builds and repairs inland and seagoing vessels of size up to 3500 dwt.
"The acquisition of Modern Infrastructure is in line with the strategic vision of Dempo Group to expand this niche business of the group beyond the shores of Goa. With this acquisition, Dempo Shipbuilding will be able to cater to both international and domestic markets with bigger and technologically advanced vessels to become one of the most prominent shipbuilding organizations in India," read the statement by Dempo Group.
Commenting on the closure of the deal, group chairman Shrinivas Dempo said, "Considering future growth potential of shipbuilding and ship repairs in India, this is a positive development for Indian shipbuilding industry in general and for Dempo Group's shipbuilding business vertical in particular.
Dempo Group is aiming to achieve top line of about Rs 1500 crores in next 5 to 7 years." KPMG Corporate Finance acted as exclusive financial advisor to the Dempo Group whereas J. Sagar & Associates and Fortitude Law Associates were the legal advisors for the transaction.
Success in my Habit
Thursday, August 30, 2012
Rural spending outpaces urban consumption
Mumbai: Rural spending outpaced urban consumption in the two years up to 2011-12, the first time in nearly 25 years, according to a study by Crisil Research. This, according to Crisil, was fuelled by a strong increase in incomes, led by rising non-farm employment opportunities and the government’s focus on rural employment generation schemes.
For India, a young population, rising income and low penetration of many consumer durables means that rural consumption has the potential to remain an important source of demand. To sustain this phenomenon, it is critical to substitute short-term income boosters such as government-sponsored employment guarantee schemes with durable job opportunities in rural areas, said the study.
Crisil said given the size of India’s rural population, the value of goods and services consumed has always been greater in rural India, but urban India had narrowed the differential during most of the last decade by growing at a faster pace. Between 2009-10 and 2011-12, additional spending by rural India was Rs 3,75,000 crore, significantly higher than Rs 2,99,400 crore by urbanites.
Between 2009-10 and 2011-12, rural consumption per person grew annually at 19 per cent — two percentage points higher than its urban counterpart, according to preliminary data released for 2011-12 by the National Sample Survey Organisation.
With rising purchasing power and disposable income, the study said that notable phenomenon that is increasingly discernible in rural consumption is a shift from necessities to discretionary goods. “About one in every two rural households now has a mobile phone. Even in India’s poorest states such as Bihar and Orissa, one in three rural households has a mobile phone,” said the study. Nearly 42 per cent of rural households owned a television in 2009-10, up from 26 per cent five years earlier.
There are also interesting state-wise differences in the ownership of durables in rural India, depending on the differences in purchasing power and cultural preferences. While in rural Bihar, only 6 per cent own a two-four-wheeler, one in two households in rural Punjab has a two-/four-wheeler — a ratio even higher than that in urban Maharashtra and Karnataka.
The boost to rural consumption in recent years was underpinned by an across-the-board rise in household incomes due to increase in non-farm job opportunities and government initiated employment generation schemes. NSSO data shows that during 2004-05 to 2009-10 rural construction jobs rose by 88 per cent and the number of people employed in agriculture fell from 249 million to 229 million.
The study further said the untapped rural potential remains huge. “Over 60 per cent of India’s population in 2026 will continue to reside in rural areas. A large portion of this population will have opportunities to move up the consumption ladder as rural areas of relatively poor states such as Bihar and Uttar Pradesh catch up with today’s income and consumption pattern in relatively affluent states. The pace and depth of rural renaissance, however, will depend on policy initiatives to overcome the challenges faced by rural India,” the study said.
For India, a young population, rising income and low penetration of many consumer durables means that rural consumption has the potential to remain an important source of demand. To sustain this phenomenon, it is critical to substitute short-term income boosters such as government-sponsored employment guarantee schemes with durable job opportunities in rural areas, said the study.
Crisil said given the size of India’s rural population, the value of goods and services consumed has always been greater in rural India, but urban India had narrowed the differential during most of the last decade by growing at a faster pace. Between 2009-10 and 2011-12, additional spending by rural India was Rs 3,75,000 crore, significantly higher than Rs 2,99,400 crore by urbanites.
Between 2009-10 and 2011-12, rural consumption per person grew annually at 19 per cent — two percentage points higher than its urban counterpart, according to preliminary data released for 2011-12 by the National Sample Survey Organisation.
With rising purchasing power and disposable income, the study said that notable phenomenon that is increasingly discernible in rural consumption is a shift from necessities to discretionary goods. “About one in every two rural households now has a mobile phone. Even in India’s poorest states such as Bihar and Orissa, one in three rural households has a mobile phone,” said the study. Nearly 42 per cent of rural households owned a television in 2009-10, up from 26 per cent five years earlier.
There are also interesting state-wise differences in the ownership of durables in rural India, depending on the differences in purchasing power and cultural preferences. While in rural Bihar, only 6 per cent own a two-four-wheeler, one in two households in rural Punjab has a two-/four-wheeler — a ratio even higher than that in urban Maharashtra and Karnataka.
The boost to rural consumption in recent years was underpinned by an across-the-board rise in household incomes due to increase in non-farm job opportunities and government initiated employment generation schemes. NSSO data shows that during 2004-05 to 2009-10 rural construction jobs rose by 88 per cent and the number of people employed in agriculture fell from 249 million to 229 million.
The study further said the untapped rural potential remains huge. “Over 60 per cent of India’s population in 2026 will continue to reside in rural areas. A large portion of this population will have opportunities to move up the consumption ladder as rural areas of relatively poor states such as Bihar and Uttar Pradesh catch up with today’s income and consumption pattern in relatively affluent states. The pace and depth of rural renaissance, however, will depend on policy initiatives to overcome the challenges faced by rural India,” the study said.
Japanese auto parts maker sets up unit at Sri City SEZ
Hyderabad: Automotive components maker Piolax India, a subsidiary of Piolax of Japan, inaugurated its first Indian facility at the Sri City multi-product special economic zone in Andhra Pradesh.
The plant is slated to commence commercial production shortly. Piolax is a global manufacturer of auto parts such as industrial fasteners, coil springs, flat springs and compact units. It has facilities in the US, the UK, China and Thailand.
Sri City, located some 55 km from Chennai, already has about 80 units from 23 countries. Built on the work-live-learn-play concept and designed by Jurong Consultants of Singapore, it has well demarcated industrial zones, including automotive, engineering, logistics & warehousing, aerospace, electronics, biotech/pharma, IT and renewable energy.
“We are happy that out of the 12 Japanese firms setting up units at Sri City, Piolax will be the third to commence production, with the remaining in various stages of construction,” said Ravindra Sannareddy, Managing Director of Sri City.
The unit is expected to hire 200 people.
Sri City is also setting up country-specific enclaves to offer specific and exclusive facilities to companies from these countries, a company statement said.
The plant is slated to commence commercial production shortly. Piolax is a global manufacturer of auto parts such as industrial fasteners, coil springs, flat springs and compact units. It has facilities in the US, the UK, China and Thailand.
Sri City, located some 55 km from Chennai, already has about 80 units from 23 countries. Built on the work-live-learn-play concept and designed by Jurong Consultants of Singapore, it has well demarcated industrial zones, including automotive, engineering, logistics & warehousing, aerospace, electronics, biotech/pharma, IT and renewable energy.
“We are happy that out of the 12 Japanese firms setting up units at Sri City, Piolax will be the third to commence production, with the remaining in various stages of construction,” said Ravindra Sannareddy, Managing Director of Sri City.
The unit is expected to hire 200 people.
Sri City is also setting up country-specific enclaves to offer specific and exclusive facilities to companies from these countries, a company statement said.
India, Australia join hands to develop iron-rich bananas
Hyderabad: Eating bananas could well be the next best thing in the fight against anaemia soon. Indian and Australian researchers have joined hands to develop iron-rich bananas that could help women with iron deficiency.
Bananas contain vitamin B6, fibre and potassium. Globally more than 100 billion bananas are consumed annually, making it the largest agricultural product after wheat, rice and corn.
The joint effort will see the development of new strains of iron-rich bananas. It will offer an affordable option to tackle iron-deficiency anaemia, a major cause of maternal deaths during childbirth, especially in India and other developing countries.
The Biotechnology Industry Research Assistance Council (Birac) under the Department of Biotechnology and the Queensland University of Technology have signed an agreement for the purpose. The project will see an investment of A$2.6 million or about Rs 14.8 crore.
Birac is providing A$1.2 million (Rs 6.8 crore ) to the University and another A$1.4 million (Rs 8 crore) towards the cost of the Indian component of the programme, which will address a nutrition deficiency in Indian population, said Managing Director Renu Swarup.
The project will be led by the University’s Centre for Tropical Crops and Biocommodities Director James Dale and India’s National Agri-Food Biotechnology Institute’s Rakesh Tuli. Other partners include Bhabha Atomic Research Centre, National Research Centre for Bananas, Tamil Nadu Agricultural University and Indian Institute of Horticulture Research.
In a press release, Australian High Commissioner to India Peter Varghese said on Wednesday that it is an important project that would help prevent avoidable maternal mortality in India.
Dales said the project would build upon ongoing research the University was undertaking to increase the nutritional content of bananas in Uganda under the auspices of the Gates Foundation. The Indian banana project would involve an initial four-year development phase. It would then take another four to five years to prepare the bananas for release to Indian farmers.
Bananas contain vitamin B6, fibre and potassium. Globally more than 100 billion bananas are consumed annually, making it the largest agricultural product after wheat, rice and corn.
The joint effort will see the development of new strains of iron-rich bananas. It will offer an affordable option to tackle iron-deficiency anaemia, a major cause of maternal deaths during childbirth, especially in India and other developing countries.
The Biotechnology Industry Research Assistance Council (Birac) under the Department of Biotechnology and the Queensland University of Technology have signed an agreement for the purpose. The project will see an investment of A$2.6 million or about Rs 14.8 crore.
Birac is providing A$1.2 million (Rs 6.8 crore ) to the University and another A$1.4 million (Rs 8 crore) towards the cost of the Indian component of the programme, which will address a nutrition deficiency in Indian population, said Managing Director Renu Swarup.
The project will be led by the University’s Centre for Tropical Crops and Biocommodities Director James Dale and India’s National Agri-Food Biotechnology Institute’s Rakesh Tuli. Other partners include Bhabha Atomic Research Centre, National Research Centre for Bananas, Tamil Nadu Agricultural University and Indian Institute of Horticulture Research.
In a press release, Australian High Commissioner to India Peter Varghese said on Wednesday that it is an important project that would help prevent avoidable maternal mortality in India.
Dales said the project would build upon ongoing research the University was undertaking to increase the nutritional content of bananas in Uganda under the auspices of the Gates Foundation. The Indian banana project would involve an initial four-year development phase. It would then take another four to five years to prepare the bananas for release to Indian farmers.
Indian drug companies break into world's fastest growing list
Mumbai: In yet another instance of India Inc occupying a larger seat in the global league tables, three out of the top 10 fastest-growing generic companies globally are now from India. Besides being an indication of the acceptance of domestic pharmaceutical companies and their growing clout, this is also a stamp of their command on manufacturing processes, innovation and marketing muscle at a global scale.
On the list is Glenmark Pharmaceuticals which, with a growth of 37%, is the fifth fastest-growing generic company globally, followed by Dr Reddy's which grew 34% in FY 2011-12, according to global pharmaceutical research firm, EvaluatePharma. The third domestic company on the list, Sun Pharma witnessed a growth of 29%, occupying the eighth rank, right below its subsidiary Taro which had a 33% growth (Taro reports its own numbers since it's listed in the US, while the domestic company has started combining the Israel-based company's financials since September 2010).
The club of the fastest growing generic companies in the world is dominated by US companies, led by US-based Sagent Pharma, which witnessed a huge growth of 106% during the period, according to the research firm's latest analysis.
Perrigo, another US company, is the world's second fastest-growing company with an 80% growth. Nichi-Iko Pharmaceutical of Japan is on the third slot, posting a growth of 79%, while Watson Pharma of US grew 46% during the period.
Pharma companies have taken advantage of the blockbuster drugs which are losing patent protection, and have already raked in millions of dollars by introducing their copy-cat versions. For instance, Dr Reddy's launched generic versions of blockbuster drugs Zyprexa and Plavix, while Ranbaxy mopped up huge revenues from sales of generic Lipitor.
Significant product launches, market exclusivity of drugs going off-patent, and growth in regulated markets have contributed to the development, industry experts say.
According to Sujay Shetty, India leader for pharma and life sciences at PwC India, "This shows the growing significance of domestic companies in terms of quality, portfolio strategy and certain significant first-to-file (FTF) products. Strong revenues from regulated markets are another factor which contributed to the huge growth. Most of the companies have sales of around 50% coming from US, which is the largest market for generics globally. Domestic companies like Dr Reddy's capitalized on key FTF opportunities, while others including Sun Pharma posted gains on account of US sales."
The growth in domestic companies has also been driven by their robust home businesses. The Indian pharma market is clocking a growth of around 15-20% year-on-year.
Commenting on Glenmark's strategy, CMD Glenn Saldanha says, "The high growth is due to our focus in building a strong emerging markets business in addition to having a significant presence in India and US. The growth from markets, particularly Russia, Brazil and the US, has been exceptional. We have invested in these markets for the last six-seven years and we are just beginning to make huge inroads in these markets. Glenmark will continue to build its presence in markets like Russia, Brazil and Mexico where it has invested for the last five years and these markets will drive strong growth."
On the list is Glenmark Pharmaceuticals which, with a growth of 37%, is the fifth fastest-growing generic company globally, followed by Dr Reddy's which grew 34% in FY 2011-12, according to global pharmaceutical research firm, EvaluatePharma. The third domestic company on the list, Sun Pharma witnessed a growth of 29%, occupying the eighth rank, right below its subsidiary Taro which had a 33% growth (Taro reports its own numbers since it's listed in the US, while the domestic company has started combining the Israel-based company's financials since September 2010).
The club of the fastest growing generic companies in the world is dominated by US companies, led by US-based Sagent Pharma, which witnessed a huge growth of 106% during the period, according to the research firm's latest analysis.
Perrigo, another US company, is the world's second fastest-growing company with an 80% growth. Nichi-Iko Pharmaceutical of Japan is on the third slot, posting a growth of 79%, while Watson Pharma of US grew 46% during the period.
Pharma companies have taken advantage of the blockbuster drugs which are losing patent protection, and have already raked in millions of dollars by introducing their copy-cat versions. For instance, Dr Reddy's launched generic versions of blockbuster drugs Zyprexa and Plavix, while Ranbaxy mopped up huge revenues from sales of generic Lipitor.
Significant product launches, market exclusivity of drugs going off-patent, and growth in regulated markets have contributed to the development, industry experts say.
According to Sujay Shetty, India leader for pharma and life sciences at PwC India, "This shows the growing significance of domestic companies in terms of quality, portfolio strategy and certain significant first-to-file (FTF) products. Strong revenues from regulated markets are another factor which contributed to the huge growth. Most of the companies have sales of around 50% coming from US, which is the largest market for generics globally. Domestic companies like Dr Reddy's capitalized on key FTF opportunities, while others including Sun Pharma posted gains on account of US sales."
The growth in domestic companies has also been driven by their robust home businesses. The Indian pharma market is clocking a growth of around 15-20% year-on-year.
Commenting on Glenmark's strategy, CMD Glenn Saldanha says, "The high growth is due to our focus in building a strong emerging markets business in addition to having a significant presence in India and US. The growth from markets, particularly Russia, Brazil and the US, has been exceptional. We have invested in these markets for the last six-seven years and we are just beginning to make huge inroads in these markets. Glenmark will continue to build its presence in markets like Russia, Brazil and Mexico where it has invested for the last five years and these markets will drive strong growth."
Wednesday, August 29, 2012
Flytxt clinches twin deals in Africa
Thiruvananthapuram: Flytxt, a provider of real-time closed-loop mobile marketing solutions, has won twin deals with African telecom companies Warid Uganda and Warid Congo B.
Based out of Technopark here, Flytxt will provide its campaign management solution to these telcos.
Goes Live
The company’s platform went live on both the operator networks soon after the closure of the deal, a company spokesman said here.
Its technology brings out subscriber insights based on service consumption patterns and helps cellular service providers to highly customise service offerings. The integrated reward-churn-intent-and-offer management functionality of the Flytxt marketing suite helps build an efficient closed-loop marketing process.
Shailendra Naidu, Chief Commercial Officer at Warid Uganda said pre-paid markets were changing and required not just real-time insights about mobile subscribers but also the ability to communicate with them in an interactive and personalised fashion.
Loyal Partnership
Innovations such as these help mobile operators to forge a strong bond with their subscribers and develop a loyal, long-term relationship with them. “We are delighted to bring technology purpose-built by Flytxt for telcos,” Naidu said.
Imossio Begoume, Chief Marketing Officer at Warid Congo B said he wanted to create newer and richer experiences for the people of Congo.
Warid had partnered with Flytxt with a view to benefiting from its innovative approach to mobile marketing technology and services space.
Vinod Vasudevan, Group Chief Executive Officer, Flytxt said his company was extremely happy about partnering with Warid Uganda and Warid Congo B.
“We look forward to working with them to enable personalised communications and improved experience for their mobile subscriber base.
Based out of Technopark here, Flytxt will provide its campaign management solution to these telcos.
Goes Live
The company’s platform went live on both the operator networks soon after the closure of the deal, a company spokesman said here.
Its technology brings out subscriber insights based on service consumption patterns and helps cellular service providers to highly customise service offerings. The integrated reward-churn-intent-and-offer management functionality of the Flytxt marketing suite helps build an efficient closed-loop marketing process.
Shailendra Naidu, Chief Commercial Officer at Warid Uganda said pre-paid markets were changing and required not just real-time insights about mobile subscribers but also the ability to communicate with them in an interactive and personalised fashion.
Loyal Partnership
Innovations such as these help mobile operators to forge a strong bond with their subscribers and develop a loyal, long-term relationship with them. “We are delighted to bring technology purpose-built by Flytxt for telcos,” Naidu said.
Imossio Begoume, Chief Marketing Officer at Warid Congo B said he wanted to create newer and richer experiences for the people of Congo.
Warid had partnered with Flytxt with a view to benefiting from its innovative approach to mobile marketing technology and services space.
Vinod Vasudevan, Group Chief Executive Officer, Flytxt said his company was extremely happy about partnering with Warid Uganda and Warid Congo B.
“We look forward to working with them to enable personalised communications and improved experience for their mobile subscriber base.
WBSEDCL mandates IL&FS Engineering Services to build 3 power projects in West Bengal
Kolkata: State-run power utility West Bengal State Electricity Distribution Company Ltd has mandated IL&FS Engineering & Construction Company or IL&FS Engineering Services to build three rural power projects worth Rs 331 crore in the state.
The projects involve supply and delivery of equipment and build the infrastructure for rural electrification. The projects will be carried out in South 24-Paraganas, which is one of most backward districts in the state. IL&FS Engineering said on Tuesday.
The projects is slated to be completed simultaneously in 24 months. The debt-laden state plans to use the centre's Backward Region Grant Fund to meet the cost of the projects.
IL&FS Engineering Services is one of the leading multinational infrastructure development, construction and project management companies.
Villages in Thakurpukur, Maheshola, Budge Budge, Kultali, Basanti, Sonarpur, Bhangar, Canning, Canning, Baruipur, Joynagar, Mathurapur will be covered under this plan.
The projects involve supply and delivery of equipment and build the infrastructure for rural electrification. The projects will be carried out in South 24-Paraganas, which is one of most backward districts in the state. IL&FS Engineering said on Tuesday.
The projects is slated to be completed simultaneously in 24 months. The debt-laden state plans to use the centre's Backward Region Grant Fund to meet the cost of the projects.
IL&FS Engineering Services is one of the leading multinational infrastructure development, construction and project management companies.
Villages in Thakurpukur, Maheshola, Budge Budge, Kultali, Basanti, Sonarpur, Bhangar, Canning, Canning, Baruipur, Joynagar, Mathurapur will be covered under this plan.
Govt maps road for electric vehicles
New Delhi: In a move to reduce dependence on fossil fuels for vehicles, government plans to push the supply of vehicles powered by electricity over the next eight years. A report prepared by the Centre projects that there would be demand of 5-7 million electricity-operated vehicles, and over 50% of them would be battery electric vehicle (BEV).
The report, which will be discussed at a meeting on National Electric Mobility 2020 on Wednesday, pegs investment of Rs 20,000-23,000 crore for the initiative. Funds will be needed for initiatives including additional power generation and attendant infrastructure to charge batteries.
The meeting, involving key Central ministers headed by heavy industries minister Praful Patel, on Wednesday will firm up the plan to make the transformation of public and private vehicles. Government estimates suggest that the transport sector in India accounts for about one-third of total crude oil consumption, with road transport guzzling more than 80%.
The Centre is looking at electric-operated vehicles in a bid to decrease the over dependence on scarce fossil fuel. The report claims that sale of 6-7 million units of electric vehicles, including two-wheelers, will help save 2.2-2.25 million tonne fossil fuel consumption by 2020. Sources said that the National Electric Mobility Plan has components like cash subsidy and financing facilities for the end consumers, creating a network for charging of the vehicles, research and development as well as (R&D) incentives for the companies.
Many countries such as Japan, France and the US have set targets to bring electric vehicles on their roads. France aims to get two million BEVs and plug-in hybrid electric vehicle (PHEVs) with an investment of $380-$400 million. Japan is looking at two million electric vehicles by 2025, and has earmarked $250 million for the venture.
In India, vehicle manufacturers such as Mahindra & Mahindra, Maruti and Tata have announced to launch cars on electric mode soon.
Electric vehicles for mobility have gained importance in light of growing pollution across the globe. International Energy Agency (IEA) in its 2009 report had mentioned that fossil fuel based transportation is the second largest source of carbon dioxide emission.
The report, which will be discussed at a meeting on National Electric Mobility 2020 on Wednesday, pegs investment of Rs 20,000-23,000 crore for the initiative. Funds will be needed for initiatives including additional power generation and attendant infrastructure to charge batteries.
The meeting, involving key Central ministers headed by heavy industries minister Praful Patel, on Wednesday will firm up the plan to make the transformation of public and private vehicles. Government estimates suggest that the transport sector in India accounts for about one-third of total crude oil consumption, with road transport guzzling more than 80%.
The Centre is looking at electric-operated vehicles in a bid to decrease the over dependence on scarce fossil fuel. The report claims that sale of 6-7 million units of electric vehicles, including two-wheelers, will help save 2.2-2.25 million tonne fossil fuel consumption by 2020. Sources said that the National Electric Mobility Plan has components like cash subsidy and financing facilities for the end consumers, creating a network for charging of the vehicles, research and development as well as (R&D) incentives for the companies.
Many countries such as Japan, France and the US have set targets to bring electric vehicles on their roads. France aims to get two million BEVs and plug-in hybrid electric vehicle (PHEVs) with an investment of $380-$400 million. Japan is looking at two million electric vehicles by 2025, and has earmarked $250 million for the venture.
In India, vehicle manufacturers such as Mahindra & Mahindra, Maruti and Tata have announced to launch cars on electric mode soon.
Electric vehicles for mobility have gained importance in light of growing pollution across the globe. International Energy Agency (IEA) in its 2009 report had mentioned that fossil fuel based transportation is the second largest source of carbon dioxide emission.
India PC market grows 17% in Q2
Mumbai: The combined desk-based and mobile personal computer market in India grew to about 2.9 million units in the second quarter of 2012, a 17 per cent rise over the same period a year ago.
Mobile personal computers, which grew 54 per cent, helped in driving the overall market growth, according to a study by global research and advisory firm Gartner.
White boxes (including parallel import), which accounted for 45 per cent of the overall desktop market, declined 18 per cent during the reporting period, it said.
“Consumer buying accounted for 50 per cent of total PC sales in the second quarter of 2012. Consumer PC sales grew 24 per cent sequentially, which emphasises the fact that media tablets are not yet cannibalising the PC market in India like in the West,” Vishal Tripathi, principal research analyst at Gartner, said.
Consumer segment
Consumer growth is primarily being driven by entry level products. Vendors such as HP, Lenovo, Asus and Samsung registered more than 50 per cent growth in the consumer segment.
“Ultrabooks are still finding it difficult to penetrate the market. However, with the availability of the new Intel processor and declining price points, we expect adoption to increase in the coming quarters,” Tripathi added. Gartner expects PC shipment growth to continue in the third quarter of 2012 due to the festive season and education buying, the report said.
Mobile personal computers, which grew 54 per cent, helped in driving the overall market growth, according to a study by global research and advisory firm Gartner.
White boxes (including parallel import), which accounted for 45 per cent of the overall desktop market, declined 18 per cent during the reporting period, it said.
“Consumer buying accounted for 50 per cent of total PC sales in the second quarter of 2012. Consumer PC sales grew 24 per cent sequentially, which emphasises the fact that media tablets are not yet cannibalising the PC market in India like in the West,” Vishal Tripathi, principal research analyst at Gartner, said.
Consumer segment
Consumer growth is primarily being driven by entry level products. Vendors such as HP, Lenovo, Asus and Samsung registered more than 50 per cent growth in the consumer segment.
“Ultrabooks are still finding it difficult to penetrate the market. However, with the availability of the new Intel processor and declining price points, we expect adoption to increase in the coming quarters,” Tripathi added. Gartner expects PC shipment growth to continue in the third quarter of 2012 due to the festive season and education buying, the report said.
We can double exports by 2015, says Commerce Secretary
New Delhi: The Government’s target of doubling exports to $500 billion by 2015 is achievable, said S.R. Rao, Commerce Secretary.
Speaking on the sidelines of a Confederation of Indian Industry Export summit here, he said, “The country can expect some policy announcements in the next 3-4 weeks which would encourage the industry and exporters.”
When asked whether India will be able to achieve the $360-billion export target for this fiscal, he said, “it is difficult.”
Underlining the significance of emerging economies in global trade flows, he said their share in global trade flows had risen to 42 per cent with South-South trade accounting for a large portion.
“South-South trade has multiplied more than 10 times in the last two decades as compared to global trade which grew four-fold in this period,” said Rao.
Adi Godrej, President, CII, and Chairman, Godrej Group, said if supply chains currently based in China are relocated, India needs to take advantage of that by finding ways to integrate itself more effectively in the new value chain.
T.C.A. Ranganathan, CMD of Exim Bank of India, said that while the Government and industry have an equally important role to play in formulating an effective strategy, it is the strategy of individual corporations that will play a bigger role in achieving the export target.
Last year India’s external merchandise trade was close to $780 billion contributing close to 47 per cent of the national GDP.
“Our exports have breached the $300-billion mark though our imports remain a hefty $470 billion generating a large trade deficit, which is a matter of concern,” the Commerce Secretary said.
Speaking on the sidelines of a Confederation of Indian Industry Export summit here, he said, “The country can expect some policy announcements in the next 3-4 weeks which would encourage the industry and exporters.”
When asked whether India will be able to achieve the $360-billion export target for this fiscal, he said, “it is difficult.”
Underlining the significance of emerging economies in global trade flows, he said their share in global trade flows had risen to 42 per cent with South-South trade accounting for a large portion.
“South-South trade has multiplied more than 10 times in the last two decades as compared to global trade which grew four-fold in this period,” said Rao.
Adi Godrej, President, CII, and Chairman, Godrej Group, said if supply chains currently based in China are relocated, India needs to take advantage of that by finding ways to integrate itself more effectively in the new value chain.
T.C.A. Ranganathan, CMD of Exim Bank of India, said that while the Government and industry have an equally important role to play in formulating an effective strategy, it is the strategy of individual corporations that will play a bigger role in achieving the export target.
Last year India’s external merchandise trade was close to $780 billion contributing close to 47 per cent of the national GDP.
“Our exports have breached the $300-billion mark though our imports remain a hefty $470 billion generating a large trade deficit, which is a matter of concern,” the Commerce Secretary said.
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