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

GE Confident on Expanding Footprint in India

Speaking to CNBC-TV18, GE’s vice chairman John Rice said that he had confidence in the economic team put together by Prime Minister Narendra Modi.

John Rice, Vice Chairman of GE

John Rice, Vice Chairman of GE

Excerpts of the discussion from Money Control, follow:

On business outlook in light of the economic disturbances:

Rice: There is certainly a lot of discussion about the price of oil, volatile currency markets and equity markets, but if you get beneath the headlines in our businesses which are concentrated now around technology and infrastructure we still see lots of opportunities for growth.

On the prospects for the Indian economy:

Rice: Definitely we feel good about the new government, the Prime Minister; the team that he has assembled – I have been traveling to India for over 20 years and it is a very competent group of people. They have got hard work to do. Make in India is an important initiative, we and other companies need to be part of it. It needs to be seen to full fruition if you will. The frictional cost of doing business in India, when you move things around between the states, the paper work, the taxes all too complicated, much more complicated than they should be. This is the team that can get at a lot of that.
On which sectors in India look the most promising: 

Rice: We think power generation – both traditional and renewable – if there is the right market prices, so investors need signals. They need signals that they are going to be able to invest and get a reasonable risk adjusted returns. So, you have lots of capital that today is still sitting outside of India waiting to invest in the energy space if they get the right signals. There is a tremendous amount of interest in renewables in India. The thing about renewables is you have got to have land and figuring out where it comes from, how to put it together, getting the permits, figuring out who owns it and how they sell it, it is all far more complicated that it should be.

It is not just power. It is aviation, it is healthcare. We have seen some good growth in our healthcare businesses, as we develop technologies that allow you to take healthcare to places that don’t have it. So, this is where the GDP growth will give you so much but if you are not developing technologies in India that let you go into a rural or remote setting with lower cost, more versatile capabilities you probably won’t sell a lot more. But we have been able to figure out how to do that. We use our engineers in Bangalore to look at the market and design solutions that are for the Indian market. Then we can take it to the other countries elsewhere in the world.

February 16, 2016   No Comments

Attend Regional Convention of Overseas Indians, Los Angeles November 2015

Persons of Indian origin and Indo-philes alike are welcome to attend the 2015 Regional Pravasi Bharatiya Divas  (Overseas Indians) Convention hosted in Los Angeles for the very first time.

Sushma  Swaraj,  India’s External Affairs Minister who also runs the Ministry of Overseas Indian Affairs inaugurates the Convention at 6:00 PM on Saturday evening, November 14 at the Westin Bonaventure Hotel followed by dinner.  Discussions resume next morning, Sunday from 9 am until 5 PM.

Sushma Swaraj & John Kerry , September 2015

Sushma Swaraj & John Kerry , September 2015

Register for just $50 per person or $75 per couple.  Here is the registration link http://www.rpbdla.org/registration

“RPBD Los Angeles 2015”  is subtitled  “The Indian Diaspora: Defining a New Paradigm in India-US Relationship”, capturing the ethos of ongoing US-India relationship and the role played by the Indian diaspora. Amritt’s Gunjan Bagla will moderate one of the sessions.

Morning Discussion on

  • Smart Cities
  • Skill Development
  • Infrastructure Development
  • Waste Management
  • Swachh Bharat (Clean India)
  • Renewable Energy
  • Digital India
  • Cleaning the Ganges River

Lunch at 1 PM

Afternoon discussions on

  • Innovation & Entrepreneurship
  • Education, Skills & Vocational Training
  • Manufacturing

Other details are avaialble at http://www.rpbdla.org/

Note that the OIFC Business Meeting on Saturday, November 14 requires separate registration and is free.

 

November 7, 2015   No Comments

India’s Commerce Minister Reports 48% Increased FDI

Minister of State for Commerce Nirmala Sitharaman, said that since the launch of the ‘Make in India‘ initiative in September 2014, there has been a 48 percent increase in Foreign Direct Investment inflows for the period October 2014 to April 2015 as compared to the corresponding time frame of the previous year.

Nirmala Sitharaman, Minister for Commerce and Industry

Nirmala Sitharaman, Minister for Commerce and Industry

The ‘Make in India’ program aims at promoting India as an important investment destination and a global hub for manufacturing, design and innovation. Japan, China, France and South Korea have announced their intention to make huge investments in India in various industrial and infrastructure projects, reports Knowledge and News Networks.

August 8, 2015   No Comments

JV Between GE Aviation and India’s Mahindra Aerospace to Manufacture Aerostructures

GE Aviation and Mahindra Aerospace have signed a new agreement to collaborate in the production of small, metallic complex structural sheet details and assemblies in Mahindra’s new Aerospace facility in Bangalore, India, reports CNN Money.

Stefanie Darlington, Executive Sourcing Leader for GE Aviation’s Composites Value Stream, said “The establishment of this agreement marks a key step in the development of a long term relationship to support existing and potential new opportunities by adding Mahindra to our international supply chain with first hardware due in 2015.”

“Manufacture of components, assemblies and aerostructures is an integral part of our vision. While this agreement makes us part of GE’s supply chain, we are also working to collaboratively leverage our respective capabilities on assembly work packages for A&D majors,” said Arvind Mehra, Executive Director and CEO, Mahindra Aerospace.

July 3, 2015   No Comments