Category — Manufacturing Technology

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 a Top 10 Trade Partner for USA

India is currently U.S.’s 9th largest goods trading partner with $67.7 billion in total (two way) goods trade during 2016. Goods exports totaled $21.7 billion; goods imports totaled $46.0 billion. The U.S. goods trade deficit with India was $24.3 billion in 2016.

According to the U.S. Census Bureau, the country’s top imports include jewelry, silverware, sporting and athletic goods, toys, basic chemicals, pharmaceuticals, medicines, apparel, accessories, textiles, and coal and petroleum products.

U.S. top exports include precious stones, pearls, metals, basic chemicals, medical and surgical equipment, metal manufacturing, computers, electronic products, and machinery other than electrical.

The tables below compare the figures for the first five months of U.S. – India trade for 2016 and 2017. The table also lists the trade figures for the first five months of 2009 which show that the trade deficit in that year was less that in recent years.  All figures below are in millions of U.S. dollars on a nominal basis and not seasonally adjusted.

Month, Year Exports Imports Month, Year Exports Imports
Jan ’17    1,703.0     3,791.9 Jan ’09

 

1,139.8 1,833.5
Jan ’16    1,485.7     3,693.3
Feb ’17    1,937.8      3,474.3 Feb ’09    1,046.8  1,579.0
Feb ’16    1,526.3      3,660.9
Mar ’17     2,114.5        4,143.9 Mar ’09    1,123.5  1,773.0
Mar ’16     1,834.5        3,997.0
Apr ’17     1,939.4        3,730.5 Apr ’09     1,268.8          1,799.2
Apr ’16     1,772.7        3,678.3
May ’17      2,056.9        4,531.1 May ’09     1,507.5  1,580.8
May ’16      1,585.9        4,124.9

Comparison of U.S. trade in goods with India for Jan to May in 2017 and 2016, and 2009.

 

August 4, 2017   No Comments

India’s Largest Medical Device Park Opens for Business

At 250 acres, India’s largest medical devices park started operations in the outskirts of Hyderabad in the state of Telangana. K.T. Rama Rao, Minister for IT, Municipal Administration and Urban Development and Industries, who inaugurated the park, said, “We will provide all the necessary facilities to develop this park into a dedicated ecosystem for MedTech innovation and manufacturing of medical devices.”

With an aim to promote innovation through incubation, the facility will work closely with the Indian Institute of Information Technology Hyderabad, which will provide expertise in medical technology utilization for alloy works, plastics and medical electronics. It will also provide guidance in the use of biotech components such as DNA proteins and reagents, IoT, imaging, voice and data processing, among others, reports Pharmabiz.

Medical Devices Park Telangana

Fourteen companies, including Apollo Hospitals, Cyient Limited, Sandor Medicaids, Healthware Private Ltd, Sanofi Shantha Biotech, and Hetero Drugs have been allocated 50 acres of land in the park, where they will invest over $65 million (Rs 425.59 crore) and create direct employment for nearly 4,000 people.

July 20, 2017   No Comments

India’s Health Ministry to Regulate Prices of Critical Medical Devices

Critical medical devices and diagnostic equipment will be  regulated by India’s health ministry. Under the Medical Devices Rules, 2017, which will come into effect from January 1, 2018, prices of devices such as catheters, stents and orthopedic implants, heart valves, intra-ocular lenses, syringes and needles will be regulated by the government.

“The devices intended for internal or external use in diagnosis, treatment, mitigation or prevention of disease or disorder in human beings or animals, as may be specified from time to time by the central [federal] government by notification in official gazette, after consultation with the Board, fall under the definition of drugs,” Drugs Controller General of India G.N. Singh said in a notice, giving out a list of 15 medical devices notified so far .

The new rules will also require critical devices to undergo trials in India before they are approved for launch. Implantable devices such as stents will be part of the high risk category and will be monitored directly by the government regulator, reports the Times of India.

Medical Equipment

July 20, 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