Mumbai: In a blow to Mumbai-headquartered Lupin, global pharma company Mylan has launched Fenofibrate capsules to tackle coronary heart disease in the US. The capsules are the generic equivalent to Lupin's anti-cholesterol drug Antara, one of its key US brands.
It is estimated that the drug contributed $43 million to Lupin’s FY12 topline. Being a branded drug, the product contributed around 40 per cent to PAT margin.
After acquiring the brand in 2009, Lupin sold the abbreviated new drug application (ANDA) on Antara to Dr Reddy’s, which was the first to file. Other filers include Apotex, Ranbaxy and Paddock. The substance patent on Antara is set to expire in 2020.
The United States Food and Drug Administration (FDA) granted final approval to Mylan's generic version of Antara on January 10. Lupin had tried to delay the launch through an appeal in the Federal Court that granted an injunction over the district court ruling.
Analysts said Mylan has launched the product at risk.
“Given the generic launch of the product, we estimate a loss of $18-20 million, which is 1 per cent of FY14 sales and 2 per cent of FY14 PBT for Lupin,'' said Manoj Garg of Edelweiss Securities.
Success in my Habit
Wednesday, February 27, 2013
Rail Budget lays thrust on safety, consolidation, improving passenger amenities and fiscal discipline
New Delhi: The Railway Budget 2013-14 presented by the Railway Minister Shri Pawan Kumar Bansal in the Parliament lays thrust on safety, consolidation, improving passenger amenities and fiscal discipline.
The budget has absorbed the increase in passenger tariff due to increase in diesel prices but has proposed minor increase in supplementary charges for super fast trains and Tatkal charges etc. It has proposed FAC-linked revision in freight tariff only.
The Budget has proposed working expenses of Rs. 96,500 crore against the Gross Traffic Receipts of Rs. 1,43,742 crore for the year. The Railway Minister has proposed that appropriation to the Pension Fund of Railway Employees to Rs. 22,000 crore while appropriation to Depreciation Reserve Fund to Rs. 7,500 crore. With these proposals Railways expected to close the year 2013-14 with a balance of Rs. 12,506 crore in the Railway Fund.
Shri Pawan Kumar Bansal has proposed highest ever plan outlay of Rs. 63,363 crore for 2013-14 which will be financed through Gross Budgetary Support of Rs. 26,000 crore and internal resources of 14,260 crore. Market borrowing of Rs.15,103 crore, Railways share in Road Safety Fund of Rs.2000 and Rs.6000 crore will also be mobilized through PPP mode to finance operations of Railways during the year.
Due to the financial discipline railways has been able to fully repay its loan of Rs. 3,000 crore and its operating ratio during the 2013-14 is expected to increase to 87.8% as compared to 88.8% in 2011-12.
The budget has proposed number of measures to improve passenger amenities including IT enable services for reservations and new trains.
The Minister informed that the Indian Railways is set to achieve the milestone of entering the select club of railways with over 1 million ton freight loading. At present, only the Chinese, Russian and the US Railways have this distinction. The Indian Railways have joined another select club of railways which run freight trains of more than 10,000 tones load.
Speaking on fares Shri Bansal said that Railways will absorb the impact of additional burden due to increase in the rates of HSD oil of about Rs. 850 crore but announced marginal increase in supplementary charge for superfast trains, reservation fees, cancellation charges and tatkal charges as the charges have not been revised for last several years. However, he proposed to abolish the concept of enhanced reservation fee with a view to simplify the fee structure. Regarding freight tariff, he proposed to implement FAC-linked revision. He also announced that a proposal regarding the setting up of an independent Rail Tariff Authority has been formulated.
Stating that safety is a necessary mandate for running trains, the Railway Minister said that recommendations of Kakodkar and Sam Pitroda Committee for improving safety are under active consideration of his Ministry. Railway will soon prepare a Corporate Safety Plan for ten years, 2014-2024, with a view to provide long term perspective and focused attention to safety. About 10797 level crossings will be eliminated during 12th Plan, Train Protection Warning System on Automatic Signal System will be introduced and provision of comprehensive fire and smoke detection systems will be introduced in trains. Regarding the safety of women passengers he said, four companies of women RPF have been set up and another eight will be set up soon, and in recruitment of RPF 10% vacancies will be reserved for women.
Reiterating Government’s commitment to bring about a marked change in the level of passenger amenities, the Minister said that 104 important stations will be identified for immediate attention to all aspects related to cleanliness. Progressive extension of bio-toilets on trains will be taken up and an ‘Anubhuti’ coach in select trains will be arranged to provide excellent ambience and latest facilities and services. In order to ensure quality food for passengers the Minister also proposed third party audit system for food testing and setting up of ISO certified state-of-art kitchens.
The Railway Minister proposed to introduce Wi-Fi facilities on several trains to cater to increasing aspirations and requirement of youth and other passengers. Another 60 stations will be upgraded as Adarsh Stations and voluntary organizations will be involved for providing first aid services at railway stations during the year.
To make railway services people-sensitive and more efficient, the Railway Minister said that several IT initiatives will be introduced in near future which include extension of internet ticketing from 0030 hours to 2330 hours, e-ticketing through mobile phones, SMS alerts to passengers providing updates on reservation status and Next-Generation e-ticketing system will be rolled out which will be capable of handling 7200 tickets per minute against 2000 now.
Announcing the new railway projects to be taken up during 2013-14 the Railway Minister announced introduction of 67 new express trains, 26 new passengers services and extension of 57 trains besides increase in frequency of 24 trains. For the first time an AC EMU rake will be introduced on Mumbai suburban network and rake length will be increased from 9 cars to 12 cars in 80 services in Kolkata and 30 services in Chennai. The Minister proposed a target to complete 500 km of new lines and to convert 450 km lines to broad gauge during 2013-14. He also proposed new lines from Rama Mandi to Maur Mandi via Talwandi Sabo and issuing ‘Yatra Parchis’ for Mata Vaishno Devi Shrine at the time of Railway ticket booking to facilitate pilgrims.
As a token of Railway’s contribution for promotion of sports in the country, the Railway Minister proposed that all the Rajiv Gandhi Khel Ratna and Dhyan Chand Awardees will be provided Complimentary Passes for traveling by 1st Class/2nd AC. Complimentary Passes will be provided to Olympic Medalists and Dronacharya Awardees for travel in Rajdhani/Shatabadi Express. Passes for freedom fighters will now be renewed once in three years instead of every year.
Announcing staff welfare measures, the Railway Minister enhanced fund allocation for staff quarters to Rs. 300 crore and setting up of hostels for single women railway employees at all divisional headquarters. He said that this year 1.52 lakh vacancies will be filled up, out of which 47000 will be for weaker sections and the physically challenged. A multi-disciplinary training institute will set up at Nagpur for training in rail related electronics technologies.
The budget has absorbed the increase in passenger tariff due to increase in diesel prices but has proposed minor increase in supplementary charges for super fast trains and Tatkal charges etc. It has proposed FAC-linked revision in freight tariff only.
The Budget has proposed working expenses of Rs. 96,500 crore against the Gross Traffic Receipts of Rs. 1,43,742 crore for the year. The Railway Minister has proposed that appropriation to the Pension Fund of Railway Employees to Rs. 22,000 crore while appropriation to Depreciation Reserve Fund to Rs. 7,500 crore. With these proposals Railways expected to close the year 2013-14 with a balance of Rs. 12,506 crore in the Railway Fund.
Shri Pawan Kumar Bansal has proposed highest ever plan outlay of Rs. 63,363 crore for 2013-14 which will be financed through Gross Budgetary Support of Rs. 26,000 crore and internal resources of 14,260 crore. Market borrowing of Rs.15,103 crore, Railways share in Road Safety Fund of Rs.2000 and Rs.6000 crore will also be mobilized through PPP mode to finance operations of Railways during the year.
Due to the financial discipline railways has been able to fully repay its loan of Rs. 3,000 crore and its operating ratio during the 2013-14 is expected to increase to 87.8% as compared to 88.8% in 2011-12.
The budget has proposed number of measures to improve passenger amenities including IT enable services for reservations and new trains.
The Minister informed that the Indian Railways is set to achieve the milestone of entering the select club of railways with over 1 million ton freight loading. At present, only the Chinese, Russian and the US Railways have this distinction. The Indian Railways have joined another select club of railways which run freight trains of more than 10,000 tones load.
Speaking on fares Shri Bansal said that Railways will absorb the impact of additional burden due to increase in the rates of HSD oil of about Rs. 850 crore but announced marginal increase in supplementary charge for superfast trains, reservation fees, cancellation charges and tatkal charges as the charges have not been revised for last several years. However, he proposed to abolish the concept of enhanced reservation fee with a view to simplify the fee structure. Regarding freight tariff, he proposed to implement FAC-linked revision. He also announced that a proposal regarding the setting up of an independent Rail Tariff Authority has been formulated.
Stating that safety is a necessary mandate for running trains, the Railway Minister said that recommendations of Kakodkar and Sam Pitroda Committee for improving safety are under active consideration of his Ministry. Railway will soon prepare a Corporate Safety Plan for ten years, 2014-2024, with a view to provide long term perspective and focused attention to safety. About 10797 level crossings will be eliminated during 12th Plan, Train Protection Warning System on Automatic Signal System will be introduced and provision of comprehensive fire and smoke detection systems will be introduced in trains. Regarding the safety of women passengers he said, four companies of women RPF have been set up and another eight will be set up soon, and in recruitment of RPF 10% vacancies will be reserved for women.
Reiterating Government’s commitment to bring about a marked change in the level of passenger amenities, the Minister said that 104 important stations will be identified for immediate attention to all aspects related to cleanliness. Progressive extension of bio-toilets on trains will be taken up and an ‘Anubhuti’ coach in select trains will be arranged to provide excellent ambience and latest facilities and services. In order to ensure quality food for passengers the Minister also proposed third party audit system for food testing and setting up of ISO certified state-of-art kitchens.
The Railway Minister proposed to introduce Wi-Fi facilities on several trains to cater to increasing aspirations and requirement of youth and other passengers. Another 60 stations will be upgraded as Adarsh Stations and voluntary organizations will be involved for providing first aid services at railway stations during the year.
To make railway services people-sensitive and more efficient, the Railway Minister said that several IT initiatives will be introduced in near future which include extension of internet ticketing from 0030 hours to 2330 hours, e-ticketing through mobile phones, SMS alerts to passengers providing updates on reservation status and Next-Generation e-ticketing system will be rolled out which will be capable of handling 7200 tickets per minute against 2000 now.
Announcing the new railway projects to be taken up during 2013-14 the Railway Minister announced introduction of 67 new express trains, 26 new passengers services and extension of 57 trains besides increase in frequency of 24 trains. For the first time an AC EMU rake will be introduced on Mumbai suburban network and rake length will be increased from 9 cars to 12 cars in 80 services in Kolkata and 30 services in Chennai. The Minister proposed a target to complete 500 km of new lines and to convert 450 km lines to broad gauge during 2013-14. He also proposed new lines from Rama Mandi to Maur Mandi via Talwandi Sabo and issuing ‘Yatra Parchis’ for Mata Vaishno Devi Shrine at the time of Railway ticket booking to facilitate pilgrims.
As a token of Railway’s contribution for promotion of sports in the country, the Railway Minister proposed that all the Rajiv Gandhi Khel Ratna and Dhyan Chand Awardees will be provided Complimentary Passes for traveling by 1st Class/2nd AC. Complimentary Passes will be provided to Olympic Medalists and Dronacharya Awardees for travel in Rajdhani/Shatabadi Express. Passes for freedom fighters will now be renewed once in three years instead of every year.
Announcing staff welfare measures, the Railway Minister enhanced fund allocation for staff quarters to Rs. 300 crore and setting up of hostels for single women railway employees at all divisional headquarters. He said that this year 1.52 lakh vacancies will be filled up, out of which 47000 will be for weaker sections and the physically challenged. A multi-disciplinary training institute will set up at Nagpur for training in rail related electronics technologies.
India Canada to strengthen cooperation in tourism sector
New Delhi: Mr.Maxime Bernier, Minister of Tourism, Canada called on Union Tourism Minister Shri K Chiranjeevi here today. Both sides resolved to strengthen cooperation in tourism sector. It was also decided that both the countries will identify areas for working together and explore new opportunities in tourism sector especially in the field of human resource development, exchange of tour operators, investment in the tourism sector and exchange of information related to tourism sector. The possibility of signing an agreement/MoU between India and Canada was also discussed. It was also agreed that Tour Operators and Travel Agents of both the countries will interact with each other in order to promote two way tourism between India and Canada. The possibilities of promoting more package tours in either of the countries could also be explored by the travel trade of two countries. Both sides also explored the possibilities of promoting joint venture investment in the field of hotel industry and tourism infrastructural sector. Now that Hotels and Tourism sector has been opened for Foreign direct investment up to 100% on automatic routes, Canadian investment in tourism infrastructure in India could be one of the major areas of cooperation.
Canada is one of India’s primary source markets. Foreign tourist arrivals from Canada to India have increased considerably over the past few years. Numbers of Canadian tourist visiting India during the last five years were:
Year 2007 2008 2009 2010 2011
No. of tourists 208214 222364 224069 242372 259017
Ministry of Tourism has hosted a total of 16 journalists, photographers, travel agents, travel writers etc. from Canada during the year 2011-12 under its hospitality scheme. 14 guests have visited India from Canada during 2012-13(till date).
'India Tourism Office in Toronto takes care of promotion and marketing of India in Canada. India Tourism Office participates in Tourism Fair, organize workshops and seminars to showcase India’s tourism destinations and products to the tour operators and consumers of Canada. Some of the travel fairs in which India Tourism Office participates in Canada are: Travel & Vacation Show, World Culinary Show, Addison Travel Shows, International Travel & Tourism show and Maritime Show. The Ministry of Tourism organised India Tourism Road Shows in Vancouver in Sept, 2012.
Both India and Canada can benefit greatly by sharing experience and know-how in destination management & management of heritage sites. India could benefit from the initiatives undertaken by Canada in the field of Adventure Tourism.
Canada is one of India’s primary source markets. Foreign tourist arrivals from Canada to India have increased considerably over the past few years. Numbers of Canadian tourist visiting India during the last five years were:
Year 2007 2008 2009 2010 2011
No. of tourists 208214 222364 224069 242372 259017
Ministry of Tourism has hosted a total of 16 journalists, photographers, travel agents, travel writers etc. from Canada during the year 2011-12 under its hospitality scheme. 14 guests have visited India from Canada during 2012-13(till date).
'India Tourism Office in Toronto takes care of promotion and marketing of India in Canada. India Tourism Office participates in Tourism Fair, organize workshops and seminars to showcase India’s tourism destinations and products to the tour operators and consumers of Canada. Some of the travel fairs in which India Tourism Office participates in Canada are: Travel & Vacation Show, World Culinary Show, Addison Travel Shows, International Travel & Tourism show and Maritime Show. The Ministry of Tourism organised India Tourism Road Shows in Vancouver in Sept, 2012.
Both India and Canada can benefit greatly by sharing experience and know-how in destination management & management of heritage sites. India could benefit from the initiatives undertaken by Canada in the field of Adventure Tourism.
Tuesday, February 26, 2013
ISRO plans 9 more launches this year
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).
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).
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.
Subscribe to:
Posts (Atom)