Category — Consumer Goods

India’s Mahindra Group to Set Up Tractor Factory in U.S.

When asked about expanding operations, Mahindra USA president and CEO Mani Iyer said, “It makes sense down the line to have a factory in the U.S.” The company will move to the bigger segment of tractors — up to 160 hp — with the setting up of the new facility, he added.

A Mahindra Tractor

“We already have invested a lot, whether in brand, technology, distribution points, dealers and people. The number of products being made for the U.S. market alone is very high. It will call for more localization,” Iyer said.

BusinessLine reports that with a revenue of $600 million annually, the company is a major player in tractors ranging up to 120 hp. It is third in terms of market share in the segment, just behind Kubota and John Deere.

Mahindra USA has about 2,500 employees of whom over 99 percent are Americans. “Today, we are considered very local. We are an American company headquartered in India,” Iyer quipped.

August 7, 2017   No Comments

India Tops Growth in Passenger Vehicle Sales Globally

According to the Society of Indian Automobile Manufacturers, for the period January to May 2017, India topped the growth of passenger vehicle sales globally. With a sales growth of 11.34 percent India overtook the 9.05 percent growth of Japan, the only other Asian economy to have grown in terms of passenger vehicle sales. Other countries that posted a marginal growth were Germany at 4.68 percent, France at 3.34 percent, and Brazil at 2.29 percent.

Tesla Cars

Due to factors such as lower penetration levels, improving road network, greater buying abilities and addition of several new models, India’s market was able to outdo its peers in the growth of new car sales, reports ET Auto.

 Jan – May ’16 and ’17 Passenger Vehicle Sales Globally
Country Jan-May 16 Jan-May 17 %Change
India 1,196,781 1,332,442 11.34%
China 9,671,100 9,421,100 2.59%
US 2,215,452 1,997,708 9.83%
UK 1,164,870 1,158,357 0.56%
France 875,076 904,341 3.34%
S Korea 544,055 529,096 2.75%
Brazil 785,653 803,609 2.29%
Japan 1,788,331 1,950,186 9.05%
Germany 1,394,200 1,459,400 4.68%

Source: Society of Indian Automobile Manufacturers

August 6, 2017   No Comments

Reliance India Offers a 4G JioPhone for “Free”

India’s Reliance Industries‘ chairman Mukesh Ambani launched the 4G-enabled feature phone, the JioPhone at the company’s annual general meeting. This mobile phone is free for 3 years with a refundable deposit of $23.

4G VoLTE-enabled JioPhone

 

India.com reports that the 4G VoLTE-enabled JioPhone is packed with features such as:

  • Unlimited voice, data, and texts for a data plan of $2.50 per month
  • Support for all languages
  • It is pre-loaded with Jio apps, a flashlight, an expandable SD card slot, a headphone jack, microphone, speaker and 4-way navigation
  • An intelligent voice assistant command option that can help users make calls, use Jio apps, search the web, and more
  • It includes an SOS feature and also supports FM Radio
  • Its “Jio Phone TV-Cable” can be connected with any television, not just smart TV

The move by Reliance can prove to be the next disruptor in India’s telecom market.

 

July 21, 2017   No Comments

Volvo’s Managing Director Says GST Is Good for Business

In an interview with the Economic Times, Tom Von Bonsdorff managing director of Volvo Auto India said that the recently introduced Goods and Services Tax (GST) is a business enabler. “The ease of doing business in India will grow. Now we have just transitioned to GST, give it a few months, it will settle down and will be good for business.”

Bonsdorff told the publication that the company will continue to bring hybrid cars into India despite the higher GST levies on this category of vehicles. Hybrid cars are the crucial first step in helping India achieve its 2030 goal of switching to electric cars for personal transport, he added. In 2019, Volvo will launch its fully electric car globally.

Volvo Logo

“We launched our first plug-in-hybrid last fall. We will continue to launch plug-in-hybrids in all the cars that we bring in. We are committed to that,” Bonsdorff said. He also noted that the company had a good start this year and will go forward in its plan to bring in new cars. He was confident of achieving a target of selling 2000 cars and having 25 new showrooms by the end of this year.

July 20, 2017   No Comments

India Approves Amazon’s $500 Million Investment in Food Retail

India’s Department of Industrial Policy and Promotion approved e-commerce major Amazon‘s proposed $500 million investment in retailing of food products in the country. The company will launch a wholly-owned subsidiary in India to stock food products and sell online.

Last year the government allowed 100 percent foreign direct investment for trading, including through e-commerce, in food products manufactured and produced in India. In 2016-17 (December to April) the food processing sector in the country received FDIs of $663.23 million, reports the Economic Times.

Amazon Logo

July 13, 2017   No Comments