Category — Sourcing

Exports Look Up for Global Auto Makers in India

According to the latest export numbers released by the Society of Indian Automobile Manufacturers, Ford India maintained a strong export trajectory for April – September 2017. With 82,347 units (+11.5% growth) Ford has the biggest share, accounting for 22.7% of the shipments. Built at the integrated Sanand plant in Gujarat, the made-in-India Ka+ is mainly exported to Europe. The company also exports the Ka compact sedan and standard sedan along with the EcoSport SUV (made at the Chennai plant) to foreign markets.

Cars

Hyundai India currently exports its vehicles to 87 countries worldwide. The key global markets for the company are Latin America (Mexico, Chile , Peru, Panama); Africa & Middle East (South Africa, Algeria, Tunisia) and the Asia Pacific (Philippines, Nepal).

With export numbers of 50,410 units Volkswagen India recorded a growth of 16.9% . The company, which has for long been benefiting from its make in India growth strategy, exports cars from its Pune plant to over 35 countries across the four continents: Asia, Africa, North America and South America. Mexico continues to be its biggest export market, contributing over 80 percent of its overseas volumes.

GM India, focused solely on export operations from its Talegaon plant since end-April 2017, has shipped 45,222 units (47.7% growth), enough to keep its operations in India running, reports Autocar Professional.  GM will stop selling cars in India next month.

Fiat Chrysler Automobiles India started local manufacture of its Jeep Compass SUV five months ago.  On October 25, FCA India shipped its very first batch of 600 units of the Jeep Compass from the Bombay Port Trust facility to Australia and Japan. The company says the Ranjangaon-produced SUV with over 65 percent local content will go to other international markets such as the U.K., New Zealand, and South Africa through the ongoing quarter of 2017.

 

 

November 2, 2017   No Comments

Seafood Park Launched in Odisha, India

The Industrial Infrastructure Development Corporation of the state of Odisha in India, set up a 152-acre “Seafood Park” where food processing companies can locate their factories. The $21 million park has been approved under the Mega Food parks project of the Federal ministry of food processing industries.

The project will have 41 processing units which will provide plug and play infrastructure and access to common facilities such as prepping and post-processing areas, ice plants, polythene and packaging units as well as a research and development facility. The Seafood Park can process 90,000 million tons of seafood per year.

fishing net

Falcon Marine Exports Ltd, Magnum Seafoods Ltd, Utkal Exports and Coastal Corporation Ltd. are some of the companies that have invested in operating units in the Park. The government of Odisha has set up a target of  $3 billion in seafood exports annually in the next five years — a substantial increase from the current $390.5 million.

October 30, 2017   No Comments

India’s Shrimp Exports Surge Due to Bumper Harvest

According to a report by Globefish, a unit within the United Nations Food and Agriculture Organization, the seafood export value from India is expected to reach $2.3 billion — a growth of 41 percent this year. The abundant vannamei shrimp harvest in India will boost India’s seafood export performance in 2017, along with that of Chile.

shrimp

FIS reports that significant import growth is forecast for the South East Asian emerging markets in particular, while the traditional “big three” comprising the United States, EU and Japan will all see a surge in seafood demand due to improving economic conditions. The value of world trade in fish and fishery products is expected to increase by a projected 5.8 percent to $150.9 billion in 2017.

The top five shrimp exporters  in 2016 were India, Vietnam, Ecuador, Indonesia and Thailand.

October 29, 2017   No Comments

U.S. Entrepreneur Offers Small Module Reactors to India

Dr. Kris Singh, the Indian-American founder and CEO of New Jersey-based SMR LLC and Holtec International offered mini nuclear reactors to India.

“The new generation small nuclear reactor uses light water technology to produce 160 MW and is the future of nuclear energy because of its unconditional safety and economy,” Singh told the Press Trust of India in a recent interview. These reactors require only a few acres of land, and because they air cooled they can be installed in a desert, unlike traditional reactors which require huge amounts of water for cooling purposes, reports NDTV.

Model of SMR 160

Model of SMR 160

Holtec Asia, a wholly-owned subsidiary of Holtec International, recently constructed a facility in Dahej, Gujarat, to develop components for the Small Modular Nuclear Reactor (SMR-160). Singh added that this facility would initially export critical nuclear facility components including air cooled condensers, spent fuel storage, among others to U.S.A. and other countries.

October 11, 2017   No Comments

U.S. Ranks as #1 Destination for India’s Engineering Products

According to data from the state-sponsored Engineering Export Promotion Council of India, the U.S. ranks as India’s number one destination for engineering products with shipments aggregating $2.9 billion between April and July of the current fiscal.

UAE, with shipments of $1.78 billion occupies the second slot among the top 25 destinations for the engineering exports, while Mexico is at third position with $921 million worth of engineering goods purchased from India. Other major destinations for the engineering products include U.K., Germany, Italy, China, Singapore and Bangladesh, reports the Economic Times.

EEPC LogoEngineering Export Promotion Council of India’s chairman Tarvinder Singh Bhasin said, “There is no doubt the U.S. economy is doing well resulting in better shipments of our engineering goods, showing a cumulative growth of 37 percent between April-July 2017. But for an unabated rise in rupee value, our performance would have been even better.”

October 2, 2017   No Comments