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

Make in India Exhibition Gets Response

The Make in India week, organized by the Department of Industrial Policies and Promotion and the western state of Maharashtra created avenues for showcasing, connecting and collaborating for manufacturing in India. The response from corporate investors from domestic and international markets was significant , and 2,094 memorandums of understanding were signed during the week between various industry players and state governments. The govrnement claims new commitments  of over $250 billion from local and global industries, reports Business World.

Make in India Week

Key investments announced included

  • An MoU between Sterlite Group company’s TwinStar Display Technologies and Maharashtra Industrial Development Corporation for an LCD manufacturing unit in technical collaboration with Autron of Taiwan
  • BAE Systems  a Briritsh defense vendor and  India ‘s Mahindra & Mahindra  for assembling and testing of M777 Howitzers
  • Gujarat Government and Vestas of Denmark to manufacture wind turbine blades at Ahmedabad, in Gujarat
  • Gujarat Government and Tar Kovacs Systems of France for an offshore platform to develop marine applications in the state

Indian companies annoucements spanned

  • Mahindra and Mahindra’s $1.5 billion expansion plan
  • Raymond Industries’ $225 million  for manufacturing linen yarn and fabric facility
  • JSW Steel’s  investment into $1 billion  Jaigarh Port Ltd.,

February 23, 2016   No Comments

Emcure Pharmaceuticals, India, Acquires Ottawa company

Emcure Pharmaceuticals, a drug maker based in Pune in the western state of Maharashtra, has acquired Canada‘s International Pharmaceutical Generics Ltd. and its marketing arm Marcan Pharmaceuticals. Marcan Pharma has over 60 approved products mainly available from McKesson and Kohl & Frisch, among other wholesalers, reports Economic Times.

Emcure recently estimated its annual global sales at over $670 million having widened its base from contract manufacturing. The company has a strong presence in India, U.S., and European markets.

Emcure’s entry into Canada is similar to the strategy it had adopted during the acquisition of U.S.-based Heritage Pharmaceuticals in 2011. Emcure’s support to Heritage accelerated its U.S. sales for FY 2016 to $265 million. Industry experts say that Canada could be attractive for Emcure, although there could be challenges as the Canadian government implements a reference pricing system.

January 31, 2016   No Comments