Category — India Market Expansion

Print Media in India Booms

Even as the sales of newspapers and magazines decline globally, in India their circulation increased by more than 23 million copies a day between 2006 and 2016, according to a new report from India’s Mumbai-based Audit Bureau of Circulationan average growth of nearly 5% per year.

Newspapers

The bureau said, “India is one of the brightest spots [for] print media,” and cited growing literacy and education, India’s overachieving economy and more local content as reasons for the print boom, reports CNN.  India is also likely helped by the fact that it has more paid publications (7,871) than other countries and dozens of regional languages.

Indian print publications are forecast to bring in advertising revenue worth $4.5 billion by 2021, up from an estimated $3.1 billion in 2016. By then, India’s print media industry will be worth  $6.7 billion adds the bureau.

May 14, 2017   No Comments

India’s Infosys to Set Up Tech Center in Indiana

Bangalore, India-based information technology company Infosys announced that it will establish a central Indiana tech center, the first of four facilities it plans to launch as part of a broader expansion in the United States that is projected to create 10,000 jobs over the next two to four years.

Vishal Sikka, CEO of Infosys joined Republican Governor Eric J. Holcomb to announce an $8.7 million investment to lease and equip office space in the Indianapolis area that will accommodate 2,000 new workers by the end of 2021, reports abc News.

Indiana Gov Holcomb

Indiana Gov. Holcomb

Speaking on the occasion, Governor Holcomb said, “Indiana continues to put the tools in place, such as the Next Level Trust Fund and incentivizing direct flights, that allows us to attract and retain great companies like Infosys. In addition, our higher education institutions are producing a world class workforce, establishing Indiana as the innovation hub of the Midwest. I look forward to working with Infosys to elevate Indiana to the next level.”

 

May 14, 2017   No Comments

Facebook Rolls Out Express Wi-Fi in India

Facebook announced the commercial launch of Express Wi-Fi, its second attempt to bring millions of Indians online at an “affordable” fee. The service is currently available in the four Indian states of Uttarakhand, Gujarat, Rajasthan, and Meghalaya, where the company has 700 hotspots through other internet providers. It has also partnered with Airtel, (currently India’s largest telecom operator), to launch an additional 20,000 hotspots. Customers can sign up for daily, weekly, or monthly plans that cost about $0.15 a day.

“Express Wi-Fi is designed to complement mobile data offerings by providing a low-cost, high bandwidth alternative for getting online and access apps, download and stream content,” says Munish Seth, regional head for connectivity solutions in the APAC region.

Facebook Logo

Mashable reports that India is the fastest growing market for Facebook. As of last month, Facebook’s marquee platform had 184 million monthly active users in the country, 50 percent of which return to the site every day. The company’s instant messaging and voice calling app WhatsApp also has over 200 million monthly active users in India. 

May 13, 2017   No Comments

PMI Data, Fitch Affirm India’s Economy Momentum

Fitch’s reading of India’s economic outlook, and its projection of 7.7 per cent growth in 2017-18 and 2018-19, against 7.1 per cent last year, is an affirmation of India’s positive economic growth. Even though Fitch retained India’s sovereign ratings at BBB- with a stable outlook, it expressed confidence that the business environment is likely to gradually improve with the implementation and continued broadening of the government’s structural reform agenda.

Business Line reports that Fitch lauded the measures such as the Insolvency Code, relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST. It also said that efforts to rein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economy and strong external finances.

Rupee Notes

The Nikkei India Manufacturing Purchasing Managers’ Index stood at 52.5 in April, the same level as in March. The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors, led by consumer goods.

“Buoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total new business… in April,” said Pollyanna De Lima, economist at IHS Markit and author of the report.

De Lima said the outlook appeared encouraging, with output expected to remain on an upward trajectory amid reports of planned capacity expansions, new product launches, aggressive marketing campaigns and an improving economic scenario.

 

 

May 9, 2017   No Comments

In India, Montblanc’s Luxury Goods Looking Up

European luxury firm Maison Montblanc, which has a joint venture with India’s Bangalore-based Titan, is looking at a turnover of $100 million  over the next four years. The joint venture currently has seven boutique stores, and Titan’s managing director Bhaskar Bhat said, “We have a plan for about 25 stores under the joint venture … which is a five year journey plan, but we believe we can do it faster.”

Titan Logo

Business Standard reports that the boutiques will sell writing instruments, watches, men’s accessories and leather goods. “Large cities are our primary thrust for stores. We will explore some online [business] because the non-metro customer certainly has an allure of MontBlanc. We are not considering physical stores in non-metros right now,” Bhat added.

 

May 9, 2017   No Comments