Ferrero Rocher to Double its Investment in India

In an interview with the Economic Times, Roberto Grasso, India managing director of the Italian Ferrero Rocher brand of candies, outlined his company’s growth and said that the company will double its investment to $256 million in the next few years.

Ferrero Chocolates

Ferrero entered India a decade ago, and:

  • Has an annual sales turnover of $240 million.
  • Has worked with its vendors to achieve the quality of raw material it requires for its confections; 90% of its raw material is now sourced from India.
  • 50% of the products manufactured in India is exported.
  • The India branch of the company has recently overtaken Nestle’s chocolate production figures, in India.
  • Established its first research and development laboratory outside of Europe, in Baramati in the western state of Maharashtra. This lab designs and develops toys that are used in the Kinder Joy product.

October 28, 2016   No Comments

India’s Ports Handle Increasing Numbers of Containers

According to the Journal of Commerce, container volumes increased this year by 6.3 percent from May to September at India’s major ports over the same period last year, reports the Maritime Executive.

TEU volumes for Kolkata were up 17 percent; up by five percent at Tuticorin; Visakhapatnam volumes were up 132 percent;  and DP World-operated Vallarpadam Terminal volumes were up 20.5 percent.

International Container Transshipment Terminal in Kochi, India

Statistics for the Jawaharlal Nehru Port Trust in the western state of Maharashtra:

  • Accounted for 2.26 million TEUs, representing more than 50 percent of India’s total containerized traffic
  • Turnaround time for one ship was reduced to 2.01 days from 2.85 days
  • Aims to handle 10 million TEUs by 2021, after a new terminal is commissioned.

Statistics for the DP World operated Mundra International Container Terminal in the western state of Gujarat:

  • Achieved a rate of 49.5 moves per crane per hour while handling the Maersk Line vessel Seroja Lima
  • The 8,520-TEUs Seroja Lima was unloaded, loaded and departed within a time frame of less than 10 hours
  • Achieved a productivity rate of 180 moves per hour at the main berth having four twin-lift and 21-across quay cranes

Prime Minister Modi wants to develop ports that can shift freight onto vessels capable of carrying 18,000 TEUs.

 

October 22, 2016   No Comments

Asia Competitive Institute Ranks India’s States for Ease of Business

In a study done by the Asia Competitive Institute which is part of the Lee Kuan Yew School of Public Policy, the Indian states of Maharashtra, Gujarat, Delhi NCR, Goa and Andhra Pradesh are rated as the top five of 21 sub-regional economies in ease of doing business in India.

Maharashtra, Delhi NCR, Tamil Nadu, Gujarat and Karnataka, were rated as the most competitive states, as well as states that lead in attracting foreign direct investment accounting for over 50 percent of the total FDI inflow into the country, said Sasidaran Gopalan, research fellow at the institute.

States of India

States of India

India’s appreciating real effective exchange rates have not significantly affected FDI inflows over the last decade, reports Bloomberg.

“The impact of real exchange rates on FDI in India has been rather negligible so far,” Gopalan pointed out, citing the finding from a recently concluded study by the institute for 2000-2013. The research study, however, also concluded that the volatility in Indian rupee “actually appears to induce more FDI into the country”.

September 17, 2016   No Comments

Andhra Pradesh to Set Up First Medical Device Park

India’s eighth largest state of Andhra Pradesh situated in the southeastern part of the country, is moving forward with a first medical device park in Asia dedicated to manufacturing medical devices. The park will span 226 acres at Visakhapatnam, the state’s largest city. India’s state-cabinet has approved funding of the Andhra Pradesh Medtech Zone (AMTZ).

Rana Mehta, partner and leader for the health care division of leading accounting firm Pricewaterhousecoopers Private Limited, told Medical Device Daily, “In addition, facilities and incentives for manufacturing, such as the availability of electricity 24 hours every day, good connectivity with the rest of India, land for industrial purposes, creation of common facilities in the park and good governance also make Vishakhapatnam a good destination for manufacturing.”

“The next in pipeline are Maharashtra at Nagpur City and Gujarat. These are still at the preliminary discussion stage. AMTZ is seeing the fastest progress as yet,” Rajiv Nath, forum coordinator at the Association of Indian Medical Device Industry told Medical Device Daily.

Districts of Andhra Pradesh

Districts of Andhra Pradesh

AMTZ will have common manufacturing facilities such as specialized laboratories, warehouses, and testing centers. Small and medium-sized enterprises will be located in 100 to 150 independent manufacturing units, each in a built-in ready-to-use area of half to one acre each . High-end medical device manufacturing aimed at import substitution as well as looking for export opportunities, will also be accommodated. The average monthly rental will be less than $2000.

According to research firm GlobalData, India’s medical device sector is currently worth more than $5 billion and is projected to hit $17.6 billion by 2020. So far, over 50 companies have shown interest and 38 companies have submitted expression of interest letters after the Andhra Pradesh government sent out invitations to potential investors.

 

 

August 7, 2016   No Comments

Autodesk to Provide Advanced Design Technology to India

Moneycontrol reports that California-based Autodesk has signed a memorandum of understanding with the government of the western state of Maharashtra by which beginning May 5, 2016 Fusion 360, Autodesk’s cloud-based software tool for Computer Aided Design (CAD) and Computer Aided Manufacturing (CAM) will be made available for free to Micro, Small, and Medium Enterprises registered with the Department of Industries in the state, if they have an annual turnover less than $0.16 million. For those companies that exceed this amount, the software tools will be available for $30 plus taxes, with a two year validity.

MSME Logo

Commenting on the initiative, the Chief Minister of Maharashtra, Devendra Fadnavis said, “This partnership between the Government of Maharashtra and Autodesk will create a potential for Maharashtra’s Micro, Small, and Medium Enterprises to become globally competitive and locally productive.

Autodesk will help the enterprises that derive greater business success by using Fusion 360 to showcase their work at national and international platforms. Additionally, it will train 8000 franchisees in the state on the optimum usage of the Fusion 360 design platform.

May 12, 2016   No Comments