Mumbai: Come early 2014 Bajaj Auto will be the first Indian automobile company whose made in India motorcycle will burn rubber in the US.
The Indian motorcycle giant will maufacture a street bike for its partner KTM AG, the Austrian bike maker in which it has a over 47 stake for the US. KTM till now has been selling only off-road bikes in this market.
These, stylish, high performance and race-oriented KTM Duke 390s would be made in Chakan, Pune plant owned by Bajaj Auto.
Stefan Pierer, chief executive, KTM-Sportmotorcycle AG, in an interview to Business Standard says, “It is a strategic decision together with Bajaj to go for sporty, stylish motorcycles even for the saturated markets because cars have become too expensive. We are entering the street bike segment in the US for the first time and beginning next year the Duke 390 built in India by Bajaj will be sold in the US market.”
The US is the world’s biggest market for high-end super bikes (above 990cc). However, due to the on-going financial crises consumers are downtrading to suit themselves with more affordable, efficient and easy-on-pocket products.
The Duke 390, which prior to the US will be launched in Europe by the middle of this year followed by India, is the result of the joint development program by engineers of Bajaj and KTM.
The concept of the Duke 390 was developed in Austria but everything else including design and development to the final product was done in India by Bajaj Auto.
Bajaj Auto which owns stake in KTM has successfully launched two models – Duke 200 and Duke 125 – built and sold in India and exported to Europe and other markets.
These small displacement street bikes, which are very peppy by character are ideal for urban commuting especially in saturated markets such as the US and Europe with increasing demand, adds Pierer. So far no Indian company has been able to set foot in the US automotive market which is widely considered to be the most toughest market.
“What we are talking about is a very powerful (40-44bhp) yet affordable bike, 138kg, so its real powerful agile bike and based of the target price of around Euro 5,000, including VAT, we think it could be a very big success”, added Pierer.
Riding high on such India-made smaller bikes KTM achieved its set target of dethroning German giant BMW last year to become Europe’s largest bike maker with sales of 107,000 as against BMW’s 106,000 units.
The plan forward is to rapidly ramp up production from India and simultaneously hunt for newer markets in ASEAN region and in the Latin American markets.
In some markets of Asia, Bajaj Auto has a strong network of its own while in other areas it taps into resources of its other partner Kawasaki. Similarly the Pune-based India’s second biggest bike producer has a strong infrastructure in the Latin American areas.
Pierer expects to do a multi-fold increase in production from Chakan to at least 100,000 units per year from 17,000 units as of last year, in the next five years. This will also be exactly half of what KTM is expected to produce globally by that time.
“In all we will produce 200,000 in five years of which 100,000 will come from India. We expect 10,000 units sales from the Duke 390 from Europe and the US. India and other regions will be additional”, added Pierer.
For India KTM has committed a new model launch every six months. While the Duke 390 is slated to hit Bajaj-appointed KTM showrooms later this year, a full faired version of the existing Duke 200 and later a full faired version of the Duke 390 will also come in
Success in my Habit
Wednesday, February 6, 2013
Bharti to buy Alcatel-Lucent stake in JV
New Delhi: Bharti Airtel, India's largest private telecom firm, on Tuesday said it will buy out Alcatel-Lucent's entire stake in a joint venture company that manages the fixed-line and broadband network for Bharti. The companies did not give any financial detail of the deal.
Bharti and the Indian unit of Alcatel-Lucent had formed the 26:74 joint venture, Alcatel Lucent Managed Network Service India Ltd, in 2009 to manage Bharti's fixed-line and broadband networks. The five-year $500 million network contract for the joint venture was to end in April 2014.
Bharti said the company would operate independently and going forward it would invite other operators for equity participation and bring the management of their broadband and fixed-line networks under the entity. It named Shishir Kumar as the new CEO of the company. Kumar was earlier CEO for the northern region at Bharti Airtel. Bharti Airtel said it was introducing a new business model for managing fixed line and DSL broadband networks, on the lines of Indus Towers. Bharti Infratel holds 42% stake in Indus Towers, with Vodafone (42%) and Idea (16%) holding the rest.
Bharti and the Indian unit of Alcatel-Lucent had formed the 26:74 joint venture, Alcatel Lucent Managed Network Service India Ltd, in 2009 to manage Bharti's fixed-line and broadband networks. The five-year $500 million network contract for the joint venture was to end in April 2014.
Bharti said the company would operate independently and going forward it would invite other operators for equity participation and bring the management of their broadband and fixed-line networks under the entity. It named Shishir Kumar as the new CEO of the company. Kumar was earlier CEO for the northern region at Bharti Airtel. Bharti Airtel said it was introducing a new business model for managing fixed line and DSL broadband networks, on the lines of Indus Towers. Bharti Infratel holds 42% stake in Indus Towers, with Vodafone (42%) and Idea (16%) holding the rest.
BHEL bags Rs 2,854-cr Bihar project
New Delhi: Bharat Heavy Electricals Ltd (BHEL) on Tuesday said it has bagged a Rs 2,854-crore contract for supply of the steam generator package for three coal-fired thermal units of 660 MW each with supercritical parameters.
The order has been placed by Nabinagar Power Generation Company Ltd, a joint venture of NTPC Ltd and the Bihar State Electricity Board. The joint venture is setting up the 1,980 MW Nabinagar Supercritical Thermal Power Project (STPP) in Bihar.
The order has been placed by Nabinagar Power Generation Company Ltd, a joint venture of NTPC Ltd and the Bihar State Electricity Board. The joint venture is setting up the 1,980 MW Nabinagar Supercritical Thermal Power Project (STPP) in Bihar.
India tops list of skilled migrants to Australia
Hyderabad: In 2012, India topped the list of nations with skilled employees ‘Down Under’, said Lachlan Strahan, acting Australian High Commissioner.
With 30,000 migrants, Indians constituted a fifth of all the migrants to Australia last year, he said at a press conference, adding, “We are looking at skilled employees from a wide range of professionals as well as business people.”
In Hyderabad as part of the Oz Festival events during the weekend, Strahan said tourism between the two countries was growing along with bilateral trade. While 190,000 Australians travelled to India last year, about 160,000 Indians visited Australia. In answer to a question, he said there were a total of 4.3 lakh Indians in Australia.
The Oz Festival, which was launched on October 16, 2012, with a glittering show in Delhi’s Purana Qila, has run over a hundred events in 18 locations in an effort to go beyond ‘Cricket, Commonwealth and English (common language)’ and create more bridges between the two nations, said David Holly, Consul General for South India. The festival, the largest cultural event held in India, ends with a concert on Wednesday in New Delhi.
The two-way trade touched $20 billion last year, with India’s contribution being $11 billion. The expectations are that it will double in the next five years. Australia came up with a White Paper in 2012, which puts India as one of the top five countries for trade and relations.
With 30,000 migrants, Indians constituted a fifth of all the migrants to Australia last year, he said at a press conference, adding, “We are looking at skilled employees from a wide range of professionals as well as business people.”
In Hyderabad as part of the Oz Festival events during the weekend, Strahan said tourism between the two countries was growing along with bilateral trade. While 190,000 Australians travelled to India last year, about 160,000 Indians visited Australia. In answer to a question, he said there were a total of 4.3 lakh Indians in Australia.
The Oz Festival, which was launched on October 16, 2012, with a glittering show in Delhi’s Purana Qila, has run over a hundred events in 18 locations in an effort to go beyond ‘Cricket, Commonwealth and English (common language)’ and create more bridges between the two nations, said David Holly, Consul General for South India. The festival, the largest cultural event held in India, ends with a concert on Wednesday in New Delhi.
The two-way trade touched $20 billion last year, with India’s contribution being $11 billion. The expectations are that it will double in the next five years. Australia came up with a White Paper in 2012, which puts India as one of the top five countries for trade and relations.
HSBC's services PMI stood at 57.5 in January 2013
New Delhi: India’s services sector growth expanded to a 12 month high in January 2013, according to the HSBC Purchasing Managers’ Index (PMI), which stood at 57.5. The index stood at 55.6 during December 2012. The HSBC India Composite Output Index for manufacturing and services stood at 56.3 in January 2013.
The services sector contributes nearly 60 per cent of India’s economic output. The growth in the sector was driven by an increase in new business orders.
The private sector employment activity also increased for the 11th month running, highlighted the report.
“Service sector activity continued to pick up pace, led by the faster inflow of new business,” as per Mr Leif Eskesen, Chief Economist for India & ASEAN, HSBC.
Growth in the sector has continued for 15 successive months and the services firms in India remained positive regarding activity levels in the upcoming year, with around 42 per cent of services companies predicting overall activity at their units to increase.
Input prices at private sector companies in India rose for the 46th consecutive month during January 2013.
The Reserve Bank of India (RBI) has reduced the interest rates on January 29, 2013 for the first time in nine months, a move to boost economic growth by easing fund flow to perk up consumption and investment demand.
The services sector contributes nearly 60 per cent of India’s economic output. The growth in the sector was driven by an increase in new business orders.
The private sector employment activity also increased for the 11th month running, highlighted the report.
“Service sector activity continued to pick up pace, led by the faster inflow of new business,” as per Mr Leif Eskesen, Chief Economist for India & ASEAN, HSBC.
Growth in the sector has continued for 15 successive months and the services firms in India remained positive regarding activity levels in the upcoming year, with around 42 per cent of services companies predicting overall activity at their units to increase.
Input prices at private sector companies in India rose for the 46th consecutive month during January 2013.
The Reserve Bank of India (RBI) has reduced the interest rates on January 29, 2013 for the first time in nine months, a move to boost economic growth by easing fund flow to perk up consumption and investment demand.
Welspun is the top home textile supplier in the US
Ahmedabad: Welspun India Ltd (WIL) ranks first in the Top 15 Supplier Giants ( USA) by Home Textiles Today in a recently concluded survey.
Welspun has moved up the ladder to the number 1 position as compared to the number 2 position in the last year, the company said on Monday.
The survey mentions that refocusing on core competencies Welspun has reported higher volumes and has improved margins in terry towels, towels and rugs.
Dipali Goenka, MD, Welspun Global Brands Ltd said this is a significant achievement as US is one of the biggest and most competitive markets.
Welspun has moved up the ladder to the number 1 position as compared to the number 2 position in the last year, the company said on Monday.
The survey mentions that refocusing on core competencies Welspun has reported higher volumes and has improved margins in terry towels, towels and rugs.
Dipali Goenka, MD, Welspun Global Brands Ltd said this is a significant achievement as US is one of the biggest and most competitive markets.
Nestle India picks up 26% stake in Indocon Agro
New Delhi: In a surprise move, Nestle India Ltd has acquired 26 per cent stake in a little known dairy company Indocon Agro and Allied Activities Pvt Ltd.
In a note to the BSE on Monday, Nestle said that it had entered into an agreement to pick up a minority stake in Indocon, which is engaged in milk collection business in western India.
Nestle India currently has its own manufacturing facilities at Moga in Punjab and Samalkha in Haryana, which largely service the northern market.
Apart from that, it has contract supply arrangements for the West and South markets with Baramati-based Schreiber Dynamix Dairies Ltd and the Hyderabad-based Heritage Foods for its curd and UHT (ultra high temperature) milk. Besides, it sources milk powder from domestic players such as Sterling Agro and VRS Foods.
“When there are so many suppliers, one doesn’t understand the rationale for picking up stakes, that too in a company about which not much is known,” an industry source said.
One possibility could be that this company could be linked to Schreiber Dynamix itself. There has been talk, of late, about Nestle tying up with Schreiber Dynamix to set up a milk powder plant at Baramati.
Schreiber Dynamix, formerly Dynamix Dairy Industries Ltd, was originally promoted by K.M. Goenka, before the US-based cheese major Schreiber International Inc acquired a majority stake in it in 2003.
Following that, Goenka floated a separate company, Sahyadri Agro Produce and Dairy Ltd, which is engaged in the business of milk handling for captive consumption of Schreiber Dynamix.
A Nestle India spokesperson said the Swiss major’s deal with Indocon was of ‘strategic and long-term’ nature, but could not give further details, including where the latter was based or how much milk it collects per day. Details of the financials of the transaction were also not disclosed.
Nestle India shares ended higher by 0.63 per cent to end at Rs 4,749 on the BSE on Monday.
In a note to the BSE on Monday, Nestle said that it had entered into an agreement to pick up a minority stake in Indocon, which is engaged in milk collection business in western India.
Nestle India currently has its own manufacturing facilities at Moga in Punjab and Samalkha in Haryana, which largely service the northern market.
Apart from that, it has contract supply arrangements for the West and South markets with Baramati-based Schreiber Dynamix Dairies Ltd and the Hyderabad-based Heritage Foods for its curd and UHT (ultra high temperature) milk. Besides, it sources milk powder from domestic players such as Sterling Agro and VRS Foods.
“When there are so many suppliers, one doesn’t understand the rationale for picking up stakes, that too in a company about which not much is known,” an industry source said.
One possibility could be that this company could be linked to Schreiber Dynamix itself. There has been talk, of late, about Nestle tying up with Schreiber Dynamix to set up a milk powder plant at Baramati.
Schreiber Dynamix, formerly Dynamix Dairy Industries Ltd, was originally promoted by K.M. Goenka, before the US-based cheese major Schreiber International Inc acquired a majority stake in it in 2003.
Following that, Goenka floated a separate company, Sahyadri Agro Produce and Dairy Ltd, which is engaged in the business of milk handling for captive consumption of Schreiber Dynamix.
A Nestle India spokesperson said the Swiss major’s deal with Indocon was of ‘strategic and long-term’ nature, but could not give further details, including where the latter was based or how much milk it collects per day. Details of the financials of the transaction were also not disclosed.
Nestle India shares ended higher by 0.63 per cent to end at Rs 4,749 on the BSE on Monday.
State signs 2 biotech MoUs at Bangalore Bio
Bengaluru: Karnataka Biotechnology and Information Technology Services (KBITS) has signed two MoUs at Bangalore India Bio to fulfil the biotech industry’s needs.
Karnataka IT, BT & ST Secretary I. S. N. Prasad, said, “KBITS signed MoU with Scottish Development International (SDI) to enable promotion of biotech activities and encourage investment opportunities between India and Scotland.”
“The second MoU is with the Georgia Department of Economic Development, Atlanta, Georgia. Here, we are exploring collaboration with potential companies with university research and industry expertise to help train manpower,” he added. The MoUs are industry-driven and the Government has taken the role of a facilitator.
Speaking after signing the MoU, Anne MacColl, chief executive, SDI, said, “The Scottish engagement in life sciences with the Bangalore India Bio will create a sustainable partnership between India and Scotland. In India, Karnataka is the capital of biotech, all evidences tell us that companies tend to grow in this sector on employment skills and taking new ideas about technology innovation.”
“We are exploring opportunities in medical innovations and scientific industries such as started with Dolly the sheep, NRT, p53 repression gene regulating economic conditions, stem cells, animal human drug device, stroke diabetes, translations of medicines, she added. Prasad said, “Scotland has some of the best BT finishing schools and its expertise will be useful in improving similar schools in Karnataka.”
KIBTS is exploring collaboration with potential companies with university research and industry expertise to help train manpower through MoUs with Georgia
According to Mark Lytle, Division Director, Georgia Centres of Innovation, “Through this MoU, we are connecting business with researchers. Georgia is leading in vaccines as well as immunological research and clinical trials.”
“We do a lot of about legislative work, by this work many health IT companies have recognised us and about 120 companies have based themselves in Georgia,” he added. Emory University, based in Georgia, has sought the approval of the National Institutes of Health to set up a vaccine testing and evaluation centre in Bangalore.
Murali Krishna Kaja, Associate Professor, School of Medicine, Emory University, said at present Emory University conducts clinical research in India in association with International Centre for Genetic Engineering and Biotechnology (ICGEB), New Delhi. The Joint ICGEB-Emory Vaccine Centre is focussing on vaccine for HIV/Aids, tuberculosis, hepatitis C, dengue, malaria and chikungunya.
Prof Kaja said the testing centre is likely to come up at the St John’s Hospital and Research Institute, Bangalore.
Karnataka IT, BT & ST Secretary I. S. N. Prasad, said, “KBITS signed MoU with Scottish Development International (SDI) to enable promotion of biotech activities and encourage investment opportunities between India and Scotland.”
“The second MoU is with the Georgia Department of Economic Development, Atlanta, Georgia. Here, we are exploring collaboration with potential companies with university research and industry expertise to help train manpower,” he added. The MoUs are industry-driven and the Government has taken the role of a facilitator.
Speaking after signing the MoU, Anne MacColl, chief executive, SDI, said, “The Scottish engagement in life sciences with the Bangalore India Bio will create a sustainable partnership between India and Scotland. In India, Karnataka is the capital of biotech, all evidences tell us that companies tend to grow in this sector on employment skills and taking new ideas about technology innovation.”
“We are exploring opportunities in medical innovations and scientific industries such as started with Dolly the sheep, NRT, p53 repression gene regulating economic conditions, stem cells, animal human drug device, stroke diabetes, translations of medicines, she added. Prasad said, “Scotland has some of the best BT finishing schools and its expertise will be useful in improving similar schools in Karnataka.”
KIBTS is exploring collaboration with potential companies with university research and industry expertise to help train manpower through MoUs with Georgia
According to Mark Lytle, Division Director, Georgia Centres of Innovation, “Through this MoU, we are connecting business with researchers. Georgia is leading in vaccines as well as immunological research and clinical trials.”
“We do a lot of about legislative work, by this work many health IT companies have recognised us and about 120 companies have based themselves in Georgia,” he added. Emory University, based in Georgia, has sought the approval of the National Institutes of Health to set up a vaccine testing and evaluation centre in Bangalore.
Murali Krishna Kaja, Associate Professor, School of Medicine, Emory University, said at present Emory University conducts clinical research in India in association with International Centre for Genetic Engineering and Biotechnology (ICGEB), New Delhi. The Joint ICGEB-Emory Vaccine Centre is focussing on vaccine for HIV/Aids, tuberculosis, hepatitis C, dengue, malaria and chikungunya.
Prof Kaja said the testing centre is likely to come up at the St John’s Hospital and Research Institute, Bangalore.
Crompton Greaves to supply transformers to New Zealand firm
New Delhi: Crompton Greaves, a part of $4-billion Avantha Group, on Monday said it has signed a long-term supply relationship agreement with Transpower NZ Ltd.
Transpower is the owner and operator of the New Zealand national grid.
“With this agreement, CG becomes the first of three preferred vendors to supply transformers to Transpower, with the potential to scale to orders worth $15 million annually. The transformers are being manufactured in CG’s Jakarta, Indonesia, facility,” the company said in a statement.
The agreement will remain in force for five years with the possibility of two extensions of two years each.
“Our expansion to 500kV transformers for large customers in SEA built a high degree of confidence with Transpower, and led to the inking of this agreement. This deal serves to strengthen CG’s position and will help us win new orders in this emerging and fast-growing geography,” said Laurent Demortier, CEO and Managing Director of Crompton Greaves.
Transpower is the owner and operator of the New Zealand national grid.
“With this agreement, CG becomes the first of three preferred vendors to supply transformers to Transpower, with the potential to scale to orders worth $15 million annually. The transformers are being manufactured in CG’s Jakarta, Indonesia, facility,” the company said in a statement.
The agreement will remain in force for five years with the possibility of two extensions of two years each.
“Our expansion to 500kV transformers for large customers in SEA built a high degree of confidence with Transpower, and led to the inking of this agreement. This deal serves to strengthen CG’s position and will help us win new orders in this emerging and fast-growing geography,” said Laurent Demortier, CEO and Managing Director of Crompton Greaves.
New strategy for promoting farm mechanisation during 12th Five Year Plan
New Delhi: Ministry of Agriculture is promoting a new strategy for farm mechanization through its various schemes and programmes. A dedicated Sub-Mission on Agricultural Mechanization has been proposed for the XIIth Plan which includes custom-hiring facilities for agricultural machinery as one of its major components. The Sub-Mission aims at catalyzing an accelerated but inclusive growth of agricultural mechanization in India. Its focus is on increasing the reach of farm mechanization to small and marginal farmers and to the regions where availability of farm power is low.
Custom hiring of farm machinery envisages promoting establishment of farm machinery banks for custom hiring by way of providing financial assistance to individual self-help groups or farmers’ co-operatives since the prohibitive cost of hi-tech and high productive equipments renders it difficult for individual ownership..
The other major components included in the Sub-Mission, apart from custom hiring facilities for agricultural machinery are promotion and strengthening of agricultural mechanisation through training, testing and demonstration; post-harvest technology and management (PHTM); financial assistance or procurement subsidy for agriculture machinery and equipments; establishment of farm machinery banks for custom hiring; enhancing hi-tech, high productive equipment hub for custom hiring; enhancing farm productivity at village level by introducing appropriate farm mechanisation in selected villages; and creating ownership of appropriate farm equipments among small/marginal farmers in eastern/north eastern region.
Custom hiring of farm machinery envisages promoting establishment of farm machinery banks for custom hiring by way of providing financial assistance to individual self-help groups or farmers’ co-operatives since the prohibitive cost of hi-tech and high productive equipments renders it difficult for individual ownership..
The other major components included in the Sub-Mission, apart from custom hiring facilities for agricultural machinery are promotion and strengthening of agricultural mechanisation through training, testing and demonstration; post-harvest technology and management (PHTM); financial assistance or procurement subsidy for agriculture machinery and equipments; establishment of farm machinery banks for custom hiring; enhancing hi-tech, high productive equipment hub for custom hiring; enhancing farm productivity at village level by introducing appropriate farm mechanisation in selected villages; and creating ownership of appropriate farm equipments among small/marginal farmers in eastern/north eastern region.
Subscribe to:
Posts (Atom)