Sriharikota (AP): The 102 {+n} {+d} space mission of the Indian Space Research Organisation (ISRO) was a grand success. It was yet another ‘flawless’ launch on an auspicious full-moon day, giving a major boost to ISRO’s plans of another nine launches this year, including one to Mars. To thunderous applause from the assembled gathering, the PSLV C-20 blasted off at 6.01 pm from the first launch pad of the Satish Dhawan Space Centre in Sriharikota carrying the satellites. The launch was also witnessed by President Pranab Mukherjee from the mission control room along with Andhra Pradesh Governor E.S.L. Narasimhan and Chief Minister Kiran Kumar Reddy.
Delay
The launch was delayed by five minutes due to the presence of space debris in the flight path. ISRO’s trusted workhorse, the Polar Satellite Launch Vehicle (PSLV), launched the Indo-French satellite Saral along with six commercial payloads from Austria, Britain, Canada and Denmark into a 785-km polar sun-synchronous orbit.
Within seconds, the rocket roared into the dark blue sky leaving behind thick orange-coloured smoke. The rocket followed its exact flight sequence, with separation of the propulsion and satellite at various stages. As the rocket went into the space, a bright full moon popped up to give a visual treat to hundreds of mediapersons assembled on the terrace of the media centre, 5 km from the launch pad.
It was the 23 {+r} {+d} mission of PSLV, which has an impeccable record of 21 consecutive successful flights. This is the ninth time ISRO is using the ‘core alone’ variant of the rocket. Congratulating ISRO for successfully executing this mission, President Mukherjee said that PSLV had become a household name in the country. The entire nation, he said, is eagerly looking forward to the successful flight of the Geo-Synchronous Satellite Launch Vehicle (GSLV).
The planned experimental mission of GSLV Mark 3 is a huge step forward in the development of heavy-lift space-transport system in the country.
“Our Chandrayaan-1 mission made the country proud. I am also confident of the first Indian inter-planetary venture, The Mars Orbiter Mission, targeted for this year, to be successful and to place India into the ranks of the few nations that have attempted such a feat,” he said. PSLV-C20 is a dawn-dusk sun-synchronous polar orbit mission carrying Saral (Satellite with ARgos and Altika), an ISRO and French space agency CNES joint venture, as the primary satellite and six auxiliary satellites. The Saral mission results from the common interest of both ISRO and CNES in studying the ocean from space. For instance, it can provide information on seasonal forecasting, study on animal migration, locating ‘buoys’ and fishing vessels, collecting environmental data such as ocean temperature profiles and currents.
Besides Saral, the PSLV-C20 has put into orbit two micro-satellites UniBRITE and BRITE (both from Austria), AAUSAT3 from Denmark and STRaND from UK. It also carried one micro-satellite (NEOSSat) and one mini-satellite (SAPPHIRE) from Canada.
With a lift-off mass of 407 kg, Saral is the 56 {+t} {+h} satellite to be launched by PSLV. The six commercial payloads from abroad together have a lift-off mass of 259.5 km. PSLV-C20 is the ninth PSLV in ‘core alone’ configuration (without solid strap-on motors).
Success in my Habit
Tuesday, February 26, 2013
State attracts proposals worth Rs 14,650 cr at investors' meet
Mumbai: The Maharashtra Government has managed to garner Rs 14,653 crore worth of investments at the Advantage Vidarbha investor meet on Monday. The two-day event was aimed at attracting industry into the region.
A press statement issued by the Maharashtra Chief Minister said that the industries department entered into 16 Memoranda of Understanding (MoU) with leading companies, while Maharashtra Industrial Development Corporation signed up another nine at Nagpur.
The prominent companies who have entered the MoU are power plant equipment manufacture BHEL with an investment of Rs 2,500 crore, and Ambuja Cement with an investment of Rs 3,300 crore; Manikgarh Cements would be investing Rs 1,500 crore and Bhushan Steel would be investing Rs 1,350 crore, it said.
Cotton hub
A business session during the meet ensured that delegates had a peek at the opportunities in Vidharbha’s textile sector , as the region produces about 66 per cent of the State’s cotton . The presentation showed how locally-grown cotton could be used to bring in additional efficiencies in the supply chain.
A session was also held on the opportunities in the automobile sector in the region. Nagpur, the principal city of the region, holds a lot of potential due to its centralised location and strong educational infrastructure which will fulfil the requirement of skilled labour. Opportunities were also discussed for tapping industrial zones of Butibori and Mihan, for developing auto ancillary units.
A press statement issued by the Maharashtra Chief Minister said that the industries department entered into 16 Memoranda of Understanding (MoU) with leading companies, while Maharashtra Industrial Development Corporation signed up another nine at Nagpur.
The prominent companies who have entered the MoU are power plant equipment manufacture BHEL with an investment of Rs 2,500 crore, and Ambuja Cement with an investment of Rs 3,300 crore; Manikgarh Cements would be investing Rs 1,500 crore and Bhushan Steel would be investing Rs 1,350 crore, it said.
Cotton hub
A business session during the meet ensured that delegates had a peek at the opportunities in Vidharbha’s textile sector , as the region produces about 66 per cent of the State’s cotton . The presentation showed how locally-grown cotton could be used to bring in additional efficiencies in the supply chain.
A session was also held on the opportunities in the automobile sector in the region. Nagpur, the principal city of the region, holds a lot of potential due to its centralised location and strong educational infrastructure which will fulfil the requirement of skilled labour. Opportunities were also discussed for tapping industrial zones of Butibori and Mihan, for developing auto ancillary units.
India poised to emerge key growth engine for Renault
Mumbai: It was precisely two years ago that Carlos Ghosn targeted India as Renault’s 11th largest market by end-2013. The French automaker’s Chairman and CEO had outlined a strategic plan, ‘Drive the Change’, in which he reiterated that Brazil and Russia, along with India, would be the growth engines of the future.
Last week, Ghosn announced that Renault had, for the first time, generated 50 per cent of its sales, totalling over 2.5 million vehicles, outside Europe. What was even more interesting was that Brazil, Russia and Argentina were among its top five markets.
There was no direct reference to India though it has been in 10th position for some months now, a slot higher than what was envisioned two years ago.
Focus shift
Clearly, Renault will increasingly look at emerging markets, with Europe still seeing a free fall. Its 2012 numbers in France were down 13 per cent while Italy’s fall was a lot sharper at 21 per cent and Spain as alarming, at 15 per cent.
In contrast, Russia was up 11 per cent while India was equally impressive with nine per cent growth. Brazil and Mexico grew six and nine per cent each while Japan surged 27 per cent.
Ghosn had also indicated that this year would see Renault focusing on expansion in Brazil and Russia while working on a revival plan in Korea. China, he said, was the ‘new frontier’ and India would capitalise on its remarkable turnaround momentum.
While there was no specific reference to Europe, auto industry observers believe it will be unpredictable, which means Renault’s sales in the region could fall below 50 per cent globally.
The Duster has been the best thing that happened to the company in India, with the order backlog estimated at over 30,000 potential customers. In 2011, Renault had just parted ways with Mahindra & Mahindra for the Logan project and started operations in Chennai with global ally, Nissan.
It launched the Fluence and Koleos, followed quickly by the Pulse before the Duster caught the eye of the market and gave the company a huge boost.
Compact car
Will India’s ranking climb further in the Renault roadmap? The next big thing, due towards 2015, is the global compact car, which will be part of the premium hatchback segment. This is a project spearheaded by Gerard Detourbet, referred to as the father of the company’s entry-car programmes.
If everything goes according to plan, India will be a critical global hub for the car along with Brazil, Russia and, perhaps, another country in the Asean region. In the process, it could perhaps end up being one of Renault’s top five markets by 2015-16.
Last week, Ghosn announced that Renault had, for the first time, generated 50 per cent of its sales, totalling over 2.5 million vehicles, outside Europe. What was even more interesting was that Brazil, Russia and Argentina were among its top five markets.
There was no direct reference to India though it has been in 10th position for some months now, a slot higher than what was envisioned two years ago.
Focus shift
Clearly, Renault will increasingly look at emerging markets, with Europe still seeing a free fall. Its 2012 numbers in France were down 13 per cent while Italy’s fall was a lot sharper at 21 per cent and Spain as alarming, at 15 per cent.
In contrast, Russia was up 11 per cent while India was equally impressive with nine per cent growth. Brazil and Mexico grew six and nine per cent each while Japan surged 27 per cent.
Ghosn had also indicated that this year would see Renault focusing on expansion in Brazil and Russia while working on a revival plan in Korea. China, he said, was the ‘new frontier’ and India would capitalise on its remarkable turnaround momentum.
While there was no specific reference to Europe, auto industry observers believe it will be unpredictable, which means Renault’s sales in the region could fall below 50 per cent globally.
The Duster has been the best thing that happened to the company in India, with the order backlog estimated at over 30,000 potential customers. In 2011, Renault had just parted ways with Mahindra & Mahindra for the Logan project and started operations in Chennai with global ally, Nissan.
It launched the Fluence and Koleos, followed quickly by the Pulse before the Duster caught the eye of the market and gave the company a huge boost.
Compact car
Will India’s ranking climb further in the Renault roadmap? The next big thing, due towards 2015, is the global compact car, which will be part of the premium hatchback segment. This is a project spearheaded by Gerard Detourbet, referred to as the father of the company’s entry-car programmes.
If everything goes according to plan, India will be a critical global hub for the car along with Brazil, Russia and, perhaps, another country in the Asean region. In the process, it could perhaps end up being one of Renault’s top five markets by 2015-16.
Indian Railways and BHEL Sign MOU for setting up of Memu Coaches Manufacturing facility at Bhilwara
New Delhi: In the presence of the Minister of Railways Shri Pawan Kumar Bansal and the Minister for Heavy Industries & Public Enterprises Shri Praful a Memorandum of Understanding (MoU) was signed here today between Indian Railways and Bharat Heavy Electricals Ltd (BHEL) for setting up of Greenfield MEMU coaches manufacturing facility by BHEL at Bhilwara in Rajasthan. The signatories to the MOU were Shri Kul Bhushan, Member Electrical Railway Board, and Shri B. P. Rao, CMD, BHEL.
Main Line Electric Multiple Unit Trains, popularly known as MEMU trains were first introduced in Indian Railways in the Year 1994-95, as a mode of rapid transit system, to cater to non-suburban passengers, residing in small towns and villages surrounding urban and industrial centres. MEMU trains have higher passenger carrying capacity and higher average speed as compared to conventional loco hauled passenger trains due to faster acceleration and braking characteristics. These rakes are now being manufactured with toilet facilities to take care of passenger needs. MEMU trains increase the line capacity utilisation, and therefore are more suitable for running on high traffic density routes.
These MEMU trains have gained rapid popularity over the years. Currently, there are about 160 MEMU services running. There are demands coming from all over the country for running more and more MEMU trains. The demand for these coaches will further increase as Indian Railways have plans to Electrify approximately 15000 route kilometre during the next 10 years, in addition to the existing 22000 route kilometre of electrified track. There was a shortfall in acquisition of 800 MEMU coaches during XIth Plan Period due to capacity constraints at Rail Coach Factory, Kapurthala, where these MEMU coaches are produced. Overall it is expected that the requirement of MEMU coaches will grow to nearly 9000 coaches during the next 10 year period. Setting up of factory for conventional MEMU coaches will go a long way in meeting this demand.
Bharat Heavy Electricals Limited (BHEL) is a Maharatna Central Public Sector Unit (CPSU) company, which is a partner of Indian Railways for a period spanning more than 40 years. It has been manufacturing and supplying electric rolling stock including EMUs and MEMUs; as well as sub-assembly and equipment for rolling stock being manufactured at IR’s own production units.
The proposed facility for production of MEMU coaches will be set up by Bharat Heavy Electricals Limited (BHEL) at Bhilwara in the State of Rajasthan. The entire cost will be borne by BHEL. Government of Rajasthan will provide land to Railways, for setting up the project. In order to make the project viable, Ministry of Railways will give Assured Off- Take orders to BHEL.
Main Line Electric Multiple Unit Trains, popularly known as MEMU trains were first introduced in Indian Railways in the Year 1994-95, as a mode of rapid transit system, to cater to non-suburban passengers, residing in small towns and villages surrounding urban and industrial centres. MEMU trains have higher passenger carrying capacity and higher average speed as compared to conventional loco hauled passenger trains due to faster acceleration and braking characteristics. These rakes are now being manufactured with toilet facilities to take care of passenger needs. MEMU trains increase the line capacity utilisation, and therefore are more suitable for running on high traffic density routes.
These MEMU trains have gained rapid popularity over the years. Currently, there are about 160 MEMU services running. There are demands coming from all over the country for running more and more MEMU trains. The demand for these coaches will further increase as Indian Railways have plans to Electrify approximately 15000 route kilometre during the next 10 years, in addition to the existing 22000 route kilometre of electrified track. There was a shortfall in acquisition of 800 MEMU coaches during XIth Plan Period due to capacity constraints at Rail Coach Factory, Kapurthala, where these MEMU coaches are produced. Overall it is expected that the requirement of MEMU coaches will grow to nearly 9000 coaches during the next 10 year period. Setting up of factory for conventional MEMU coaches will go a long way in meeting this demand.
Bharat Heavy Electricals Limited (BHEL) is a Maharatna Central Public Sector Unit (CPSU) company, which is a partner of Indian Railways for a period spanning more than 40 years. It has been manufacturing and supplying electric rolling stock including EMUs and MEMUs; as well as sub-assembly and equipment for rolling stock being manufactured at IR’s own production units.
The proposed facility for production of MEMU coaches will be set up by Bharat Heavy Electricals Limited (BHEL) at Bhilwara in the State of Rajasthan. The entire cost will be borne by BHEL. Government of Rajasthan will provide land to Railways, for setting up the project. In order to make the project viable, Ministry of Railways will give Assured Off- Take orders to BHEL.
India second most economically confident country: Ipsos study
Mumbai: A declining inflation rate for the fourth consecutive month has boosted India's economic confidence.
Besides the decline in inflation rate, which stood at 6.62% in January, positive investor confidence was another factor that stoked the country's economic confidence, according to a report by global research firm Ipsos.
According to the "Ipsos economic pulse of the world" survey, India's economic confidence shot up by 8 points to 68% in the month of January 2013 compared to the month of December 2012, making it the second most economically confident country in the world after Saudi Arabia.
"Shedding its 9-month long hawkish monetary policy stance, the Reserve Bank of India slashed its key interest rates by 0.25% taking cognisance of the moderation in demand side pressures to inflation and greater than anticipated slowdown in growth. Easing of policy rates will bring in additional liquidity into the system to perk up growth through reduced cost of borrowing," said Mick Gordon, CEO of Ipsos in India.
Ipsos is an independent market research company controlled and managed by research professionals.
"The year 2013 is likely to see revival in the industrial activity and modest recovery in the services sector which would support recovery in growth levels. The pace of economic reforms that has been initiated must continue uninhibited and it needs to be effectively implemented so that it translates into tangible investment decisions," said Gordon.
As per the study, 45% of Indian citizens believe their local economy which impacts their personal finance is good, a marginal rise of 1 point and an optimistic 53% people expect that the economy in their local area will be stronger in next six months.
The online Ipsos economic pulse of the world survey was conducted in December 2012 among 18,008 people in 24 countries.
Besides the decline in inflation rate, which stood at 6.62% in January, positive investor confidence was another factor that stoked the country's economic confidence, according to a report by global research firm Ipsos.
According to the "Ipsos economic pulse of the world" survey, India's economic confidence shot up by 8 points to 68% in the month of January 2013 compared to the month of December 2012, making it the second most economically confident country in the world after Saudi Arabia.
"Shedding its 9-month long hawkish monetary policy stance, the Reserve Bank of India slashed its key interest rates by 0.25% taking cognisance of the moderation in demand side pressures to inflation and greater than anticipated slowdown in growth. Easing of policy rates will bring in additional liquidity into the system to perk up growth through reduced cost of borrowing," said Mick Gordon, CEO of Ipsos in India.
Ipsos is an independent market research company controlled and managed by research professionals.
"The year 2013 is likely to see revival in the industrial activity and modest recovery in the services sector which would support recovery in growth levels. The pace of economic reforms that has been initiated must continue uninhibited and it needs to be effectively implemented so that it translates into tangible investment decisions," said Gordon.
As per the study, 45% of Indian citizens believe their local economy which impacts their personal finance is good, a marginal rise of 1 point and an optimistic 53% people expect that the economy in their local area will be stronger in next six months.
The online Ipsos economic pulse of the world survey was conducted in December 2012 among 18,008 people in 24 countries.
Monday, February 25, 2013
Toyota Kirloskar expands auto parts ops
Bengaluru: Toyota Kirloskar Auto Parts has announced it has commenced production at a new engine and transmission plant for the Etios range of sedans and hatchback cars in India. Toyota Kirloskar Auto Parts is a joint venture between Toyota Motor Corporation and and Toyota Industries Corporation, both from Japan, and Bangalore’s Kirloskar Systems.
Production at the new plant involves an investment of about Rs 500 crore. At the new plant, the annual capacity for engines is 1,08,000 units, while that for transmissions is 2,40,000 units. Toyota Kirloskar Auto Parts also produces R-type manual transmissions that are exported to Thailand and Argentina, along with transmissions for Fortuner models manufactured in India.
The company also produces axles and propeller shafts for the Innova models manufactured in India.
Vikram Kirloskar, vice-chairman, said, “With the commencement of Toyota Kirloskar Auto Parts’ engine and transmission plant, localisation of gasoline engines and transmissions has marked a milestone in the growth of Toyota in India.”
The local production of the engine and transmissions for Etios raises the localisation ratio to over 90 per cent.”
Production at the new plant involves an investment of about Rs 500 crore. At the new plant, the annual capacity for engines is 1,08,000 units, while that for transmissions is 2,40,000 units. Toyota Kirloskar Auto Parts also produces R-type manual transmissions that are exported to Thailand and Argentina, along with transmissions for Fortuner models manufactured in India.
The company also produces axles and propeller shafts for the Innova models manufactured in India.
Vikram Kirloskar, vice-chairman, said, “With the commencement of Toyota Kirloskar Auto Parts’ engine and transmission plant, localisation of gasoline engines and transmissions has marked a milestone in the growth of Toyota in India.”
The local production of the engine and transmissions for Etios raises the localisation ratio to over 90 per cent.”
Indorama arm signs $800-million finance pact to fund Nigeria project
New Delhi: Indorama Eleme Fertiliser & Chemicals Ltd, part of the Indorama Group, has signed a $800-million long-term financing agreement with 16 global financial institutions to fund its $1.2-billion fertiliser project in Port Harcourt, Nigeria.
The greenfield project will produce 1.4 million tonnes of granulated urea a year using natural gas as feedstock from early 2016, the company said in a statement. Indorama Corporation, Singapore – the holding company of Indorama Group and Indorama Eleme Petrochemicals Ltd, Nigeria, will invest $400 million in the project.
“We continue to see significant growth prospects in Africa and West Asia . After investing more than $500 million over the past several years, Indorama is setting the foundation to create Africa’s largest petrochemical hub in Nigeria,” said Amit Lohia, Group Managing Director, Indorama, in a statement.
The greenfield project will produce 1.4 million tonnes of granulated urea a year using natural gas as feedstock from early 2016, the company said in a statement. Indorama Corporation, Singapore – the holding company of Indorama Group and Indorama Eleme Petrochemicals Ltd, Nigeria, will invest $400 million in the project.
“We continue to see significant growth prospects in Africa and West Asia . After investing more than $500 million over the past several years, Indorama is setting the foundation to create Africa’s largest petrochemical hub in Nigeria,” said Amit Lohia, Group Managing Director, Indorama, in a statement.
Daimler to add 800 people in Indian R&D centre
Bengaluru: The Euro 114.3-billion Daimler AG, owner of brands such as Mercedes-Benz cars and Daimler Trucks, has established a new R&D facility in Bangalore that will consolidate its existing operations and add fresh capacity. The facility is its biggest outside the one at its headquarters in Germany.
Mercedes-Benz Research and Development India (MBRDI), which has been in operation since 1996, has set up a 20,000 square meter R&D centre in the city's IT hub of Whitefield, with a capacity to seat 1,800 people. At present the Bangalore facility has 1,060 people. MBRDI operates a smaller satellite facility in Pune, which employs 140 people.
Starting out seventeen years ago with just 10 people, MBRDI has been involved in many areas of Daimler's global R&D work across cars, trucks, buses and vans. These include: component development of parts and modules for the new generation cars; design, development, and modelling of subsystems such as chassis, power train, suspension, interior and exterior components; prototyping, regionalization, and localization; embedded software design, and simulation. MBRDI also overlooks the group's IT engineering, SAP delivery, global and local IT infrastructure and operation services.
"As a global development centre the contribution of MBRDI can be envisaged from the fact that in 2012 alone, the organization filed over 50 patents for innovations in automotive development," said Thomas Weber, member of the board of management, Daimler AG, and head of group research, Mercedes-Benz Cars Development. He added that India was a high potential market for Mercedes-Benz and MBRDI would ensure its development initiatives were in cognizance with the needs of upcoming markets. In 2012, Mercedes- Benz India sold approximately 7,200 units.
Weber added that over the next two years MBRDI would hire 800 people taking the total R&D operations headcount to 2,000. "We are looking forward to a period of robust growth in India and as such, Indian talent pool will continue to play an even more dominant role in the years ahead," said Jens Cattarius, MD and CEO of MBRDI.
MBRDI has taken the leadership role in developing the human body modelling system (HBM), a simulation technology that considers every possible combination of accident variables from biomechanics and the physical properties of human tissues to accident statistics and the physics of crash situations.
"HBM is a key pillar supporting Daimler's vision of accident free driving," said Cattarius. MBRDI has also led the development of seats in Mercedes-Benz's newly launched A-Class and CLA-Class.
Mercedes-Benz Research and Development India (MBRDI), which has been in operation since 1996, has set up a 20,000 square meter R&D centre in the city's IT hub of Whitefield, with a capacity to seat 1,800 people. At present the Bangalore facility has 1,060 people. MBRDI operates a smaller satellite facility in Pune, which employs 140 people.
Starting out seventeen years ago with just 10 people, MBRDI has been involved in many areas of Daimler's global R&D work across cars, trucks, buses and vans. These include: component development of parts and modules for the new generation cars; design, development, and modelling of subsystems such as chassis, power train, suspension, interior and exterior components; prototyping, regionalization, and localization; embedded software design, and simulation. MBRDI also overlooks the group's IT engineering, SAP delivery, global and local IT infrastructure and operation services.
"As a global development centre the contribution of MBRDI can be envisaged from the fact that in 2012 alone, the organization filed over 50 patents for innovations in automotive development," said Thomas Weber, member of the board of management, Daimler AG, and head of group research, Mercedes-Benz Cars Development. He added that India was a high potential market for Mercedes-Benz and MBRDI would ensure its development initiatives were in cognizance with the needs of upcoming markets. In 2012, Mercedes- Benz India sold approximately 7,200 units.
Weber added that over the next two years MBRDI would hire 800 people taking the total R&D operations headcount to 2,000. "We are looking forward to a period of robust growth in India and as such, Indian talent pool will continue to play an even more dominant role in the years ahead," said Jens Cattarius, MD and CEO of MBRDI.
MBRDI has taken the leadership role in developing the human body modelling system (HBM), a simulation technology that considers every possible combination of accident variables from biomechanics and the physical properties of human tissues to accident statistics and the physics of crash situations.
"HBM is a key pillar supporting Daimler's vision of accident free driving," said Cattarius. MBRDI has also led the development of seats in Mercedes-Benz's newly launched A-Class and CLA-Class.
Swedish firms in India plan to step up investments
New Delhi: Swedish companies in India are upbeat about business prospects in the country with more than half wanting to step up investments in the current fiscal, a survey carried out by the Swedish Chamber of Commerce has highlighted.
With Swedish retailers such as IKEA and H&M planning to set up stores in India in 2013, things are set to get even better this year.
However, red-tape, including the procedure for obtaining licences and clearances, restrictions on business structures, a complex taxation structure, lack of skilled workforce, rising operational costs and complicated import rules, are acting as major hindrances to growth, the Business Confidence Survey 2012 points out.
Major Swedish companies in India include transport major Volvo, bio-pharma company Astra Zeneca, telecom provider Ericsson and industrial equipment makers Atlas Copco, Sandvik and SKF.
Increasing interest
“Even though we are facing an economic slowdown in India and the rest of the world and the business climate has hardened during 2012, there is an increase in Swedish companies in the Indian market,” the Survey pointed out.
Interestingly, Swedish companies in retail and IT have experienced highest growth while engineering and medical equipment are the only to sectors where the market has shrunk.
The number of Swedish companies in India has increased 14.5 per cent to 158 in 2012, compared with 153 the previous year, and the number is likely to go up this year. The survey, that was carried out through questionnaires circulated to 153 Swedish companies in India, also brings to light the confidence Swedish firms have in the India story.
Higher market share
More than half the companies surveyed confirmed that their investments would go up by more than 10 per cent in the current year.
Half the companies said they had increased their market share in 2012 over the previous year.
As many as 45 per cent of the respondents said their revenue forecast is 20 per cent higher than in 2011.
On the downside, as many as three-fourths of the respondents complained about rising operational costs, while 89 per cent expect their costs to go up in the future.
A very large number of respondents also believe that non-transparency in Government and bureaucratic hurdles were major obstacles.
With Swedish retailers such as IKEA and H&M planning to set up stores in India in 2013, things are set to get even better this year.
However, red-tape, including the procedure for obtaining licences and clearances, restrictions on business structures, a complex taxation structure, lack of skilled workforce, rising operational costs and complicated import rules, are acting as major hindrances to growth, the Business Confidence Survey 2012 points out.
Major Swedish companies in India include transport major Volvo, bio-pharma company Astra Zeneca, telecom provider Ericsson and industrial equipment makers Atlas Copco, Sandvik and SKF.
Increasing interest
“Even though we are facing an economic slowdown in India and the rest of the world and the business climate has hardened during 2012, there is an increase in Swedish companies in the Indian market,” the Survey pointed out.
Interestingly, Swedish companies in retail and IT have experienced highest growth while engineering and medical equipment are the only to sectors where the market has shrunk.
The number of Swedish companies in India has increased 14.5 per cent to 158 in 2012, compared with 153 the previous year, and the number is likely to go up this year. The survey, that was carried out through questionnaires circulated to 153 Swedish companies in India, also brings to light the confidence Swedish firms have in the India story.
Higher market share
More than half the companies surveyed confirmed that their investments would go up by more than 10 per cent in the current year.
Half the companies said they had increased their market share in 2012 over the previous year.
As many as 45 per cent of the respondents said their revenue forecast is 20 per cent higher than in 2011.
On the downside, as many as three-fourths of the respondents complained about rising operational costs, while 89 per cent expect their costs to go up in the future.
A very large number of respondents also believe that non-transparency in Government and bureaucratic hurdles were major obstacles.
Stage set for PSLV C20 launch today
Bengaluru: Indian Space Research Organisation’s (Isro) 23rd Polar Satellite Launch Vehicle (PSLV) mission, the PSLV-C20, is set to launch the 4,089-kg Indo-French satellite Saral along with six commercial payloads — six foreign mini and micro satellites — on Monday at 5.56 pm from the Satish Dhawan Space Centre at Sriharikota, Andhra Pradesh.
This will be the second highest number of satellites to be flown on a PSLV. In April 2008, it had put in orbit 10 satellites, including the national Cartosat-2A, on the PSLV-C9 rocket.
The Isro-built Saral is a 410-kg satellite with payloads — Argos and Altika — from French space agency Centre National d'Etudes Spatiales (CNES) for study of ocean parameters.
Saral stands for 'Satellite with ARgos and ALtiKa.
CNES has provided the two primary devices and ISRO is responsible for building and launching the spacecraft according to an agreement signed in February 2007 between the two governments. “The countdown is going on smoothly and the launch should be on schedule,” official ISRO spokesperson D P Karnik told Business Standard on Sunday evening.
The indigenous PSLV has been configured in a ‘core-alone’ or bare-bones format without the solid strap-on motors. “This will be the ninth core-alone flight of a PSLV,” said ISRO in a release.
Of the six small experimental payloads it will fly for a fee, two each are from universities in Canada and Austria and one each from the UK and Denmark.
The PSLV has an impeccable record of 21 consecutive successful flights. The 668.5-kg, 44.4-metre rocket will have a lift off mass of 229.7 tonnes.
ISRO had initially planned to launch Saral on December 12, 2012, but postponed it to carry out additional tests at Bangalore and in Sriharikota to “address technical issues to ensure reliability”.
President Mukherjee is expected to witness the event. The 59-hour countdown for the launch, which commenced at 6.56 am yesterday, was progressing normally, said ISRO sources.
The mission is a result of the common interest of both ISRO and CNES to study the ocean using altimetry (measurement of height or altitude) system and in promoting use of the Argos data collecting system, according to Isro.
This will be the second highest number of satellites to be flown on a PSLV. In April 2008, it had put in orbit 10 satellites, including the national Cartosat-2A, on the PSLV-C9 rocket.
The Isro-built Saral is a 410-kg satellite with payloads — Argos and Altika — from French space agency Centre National d'Etudes Spatiales (CNES) for study of ocean parameters.
Saral stands for 'Satellite with ARgos and ALtiKa.
CNES has provided the two primary devices and ISRO is responsible for building and launching the spacecraft according to an agreement signed in February 2007 between the two governments. “The countdown is going on smoothly and the launch should be on schedule,” official ISRO spokesperson D P Karnik told Business Standard on Sunday evening.
The indigenous PSLV has been configured in a ‘core-alone’ or bare-bones format without the solid strap-on motors. “This will be the ninth core-alone flight of a PSLV,” said ISRO in a release.
Of the six small experimental payloads it will fly for a fee, two each are from universities in Canada and Austria and one each from the UK and Denmark.
The PSLV has an impeccable record of 21 consecutive successful flights. The 668.5-kg, 44.4-metre rocket will have a lift off mass of 229.7 tonnes.
ISRO had initially planned to launch Saral on December 12, 2012, but postponed it to carry out additional tests at Bangalore and in Sriharikota to “address technical issues to ensure reliability”.
President Mukherjee is expected to witness the event. The 59-hour countdown for the launch, which commenced at 6.56 am yesterday, was progressing normally, said ISRO sources.
The mission is a result of the common interest of both ISRO and CNES to study the ocean using altimetry (measurement of height or altitude) system and in promoting use of the Argos data collecting system, according to Isro.
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