India Receives the most FDI, Again

The fDi Report 2017 compiled by fDi Intelligence, a division of The Financial Times Ltd., says that India retained its position as the world’s topmost greenfield destination for Foreign Direct Investment for the second consecutive year, attracting  $62.3 billion in 2016.
China has overtaken the U.S. to become the second biggest destination for FDI by capital investment, with $59 billion of announced FDI, compared to $48 billion in the U.S.
A case of dollar bills
Globally, the real estate sector attracted the most capital investment, with $157.5 billion of announced FDI recorded in 2016. In value terms, coal and natural gas witnessed an inflow of $121 billion, followed by alternate and renewable energy at $77 billion, says FirstPost.

May 29, 2017   No Comments

India’s Motherson Sumi Expands Internationally

Noida, India-based auto component maker Motherson Sumi Systems consolidated net profit stood at $108.81 million in the quarter ending March 31, 2017, a better-than-expected 20 percent growth. Motherson Sumi’s net sales outside India rose over 14 percent to 94.76 billion rupees (GB Please convert to USD)

CFO of Motherson Sumi Systems, G. N. Gauba told Press Trust of India, “We have earmarked $300 million capex for the current fiscal. The investment will mainly go into the upcoming nine manufacturing plants across the world.”  The company will set up three plants in India, three in Hungary, one each at South Korea, Mexico and the United States, he added.
Auto parts from Motherson Sumi Systems
Currently, the company operates over 180 facilities across the globe catering to various automobile OEMs including Mercedes- Benz, Audi, Toyota, Ford and Suzuki, reports the Economic Times. It has set a target of achieving a turnover of  $18 billion by 2020 through global expansion.

May 22, 2017   No Comments

India’s Gem, Jewelry Exports Surge

India’s gems and jewelry exports increased by 9  percent for financial year 2016-17 due to demand from the United States, Hong Kong and the United Arab Emirates, the three destinations accounting for over 75 percent of India’s overall shipment of precious ornaments by value.

India’s  Gems & Jewelry Export Promotion Council, said that net exports for the financial year 2016-2017 were $36 billion, while for the previous financial year, the number was  $32.6 billion. Praveenshankar Pandya, chairman of the Gems and Jewelry Export Council estimated exports to increase by a further 10 percent for the current financial year 2017-18.

Diamond pendant

Meanwhile, cut and polished diamonds contributed  60 percent of India’s overall exports of precious metals and stones, reports the Business Standard.

 

May 6, 2017   No Comments

Amazon Launches Fire TV in India

Amazon launched its Fire TV stick in India  with Amazon’s Prime Video India director and country head Nitesh Kripalani and Amazon Fire TV vice president Marc Whitten at the launch. India is the fifth country where the device becomes available after the U.S., U.K., Germany and Japan.

Priced at $62, the Fire Stick stick comes pre-loaded with  Amazon Prime Video and rival platforms, such as Netflix, Fox India’s Star network-owned Hotstar, Viacom18’s Voot and Indian film major Eros International’s ErosNow, among others. Additionally, the device offers access to YouTube, various gaming apps and more, says The Hollywood Reporter.

Amazon Fire TV Stick with Voice Remote

Amazon Fire TV Stick with Voice Remote

Whitten said, “Fire TV Stick also offers data monitoring and other features to help customers in India get the most from their data plan and stream more content using less bandwidth.”

 

 

April 26, 2017   No Comments

National Security Advisor McMaster meets PM Modi

On his first official visit to the region, United States National Security Advisor H.R. McMaster,  met Prime Minister Narendra Modi in New Delhi, this week. McMaster is the highest ranking Trump administration official to visit India so far.

“The two sides discussed a range of bilateral and regional issues, including their shared interest in increasing defense and counter-terrorism cooperation,” the U.S. Embassy in New Delhi said after the meetings. “NSA McMaster emphasized the importance of the U.S.-India strategic relationship and reaffirmed India’s designation as a major defense partner,” it said, noting that the meetings were ‘productive’.

McMaster-Modi Meeting

The Indian side said, “The Prime Minister recalled his positive telephonic conversations with President Trump that reaffirmed the importance attached by both sides to the strategic partnership and to stepping up India-U.S. engagement across the board.”

During the meeting, both McMaster and Modi exchanged views on “how both countries can work together to effectively address the challenge of terrorism and to advance regional peace, security and stability,” reports the Indian Express.

 

April 20, 2017   No Comments