South Korean, Steelmaker POSCO meets Andhra Pradesh (India) CM, expresses interest to invest

Representatives of South Korea’s leading steel manufacturer POSCO have called on Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Thursday and expressed their willingness to invest in the State.

The Chief Minister said the industrial policy of the State is transparent and encourages investors for industrial development. The natural resources will help industries and also help for industrial development in the state, he added.

POSCO India group Chairman, Managing Director Sung-Lae Chun, Chief Financing Officer Goo Young An, Senior General Manager Jung Le Park and other officers were part of the delegation that met the Chief Minister, according to a statement from the Chief Minister's Office.

POSCO is bullish about the Indian market. It has had a long bumpy ride for a very long time but has kept on believing in India.

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                                                                      Source :  Economic Times

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Lubrizol to invest in water management, health and lubricant segments in India

Lubrizol Corporation plans to invest in transportation lubricants, water management programs and health and hygiene segments in India, a senior government instructed a couple of days after the US speciality chemical compounds main signed a producing partnership with Grasim to make CPVC resins.

 

“We are very bullish about the growth of the India market. So our priority is to win in India,” stated Vince Misiti, basic supervisor, TempRite Engineered Polymers, Lubrizol. “In the chlorinated polyvinyl chloride (CPVC) sector itself, India continues to expand. We believe it’s going to be a bright future just for India.”

 

Lubrizol, a Berkshire Hathaway subsidiary with revenues shut to $7 billion, had in late October signed a definitive settlement with Aditya Birla Group’s flagship to manufacture CPVC resin at Grasim’s Chlor-alkali plant in Gujarat.

 

He stated the undertaking might be carried out in phases. “The first phase will be completed at the end of 2022.”

 

The partnership will cater to the chilly and scorching water pipe section, to begin with. “Then the company hopes to move into other areas such as water management chain and coating for transportation segment,” Misiti stated.

 

Lubrizol has a $50-million (Rs 325 crore) CPVC compounding plant in Dahej that commenced operations in 2016. The plant can produce practically 55,000 tonnes of compounds yearly. This was a part of the $200-million (Rs1,300 crore) funding the corporate introduced in 2013, which included the opening up of a resin manufacturing plant at Rayong, Thailand and a growth facility at Louisville, Kentucky, USA.

 

“India is not just a base for manufacturing but is very attractive as a market,” Misiti stated. “Just like other key geographical areas, India is now a destination for us.”

 

The firm partnered with Ashirvad Pipes in 2019 to provide its fireplace safety programs, BlazeMaster pipes and fittings in India. In August this 12 months, it partnered with Prince Pipes to provide FlowGuard CPVC processors.

 

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International Monetary Fund: Indian economy is recovering fast, all parameters show improvement

Finance Secretary Tarun Bajaj said, “We are seeing an improvement in all parameters generally and we are expecting a further improvement in November and this should continue. Hopefully, the economy should be back on rails and it is moving much faster than what had been anticipated by a lot of experts and economists”, he said.

Last month, the International Monetary Fund said the Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3 per cent this year.

However, it projected a rebound to 8.8 per cent in 2021. Last financial year, India witnessed a growth rate of 4.2 per cent.

Last week, Finance Minister Nirmala Sitharaman said there were visible signs of revival in the economy and the GDP growth may be in the negative zone or near zero in the current fiscal.

Echoing similar sentiments, Bajaj said, "We continue to see an uptick in the economy since the past few months since the opening up of the economy and the manufacturing PMI has touched 58.9, which is the highest in the last decade. The power consumption in October is 12.10 per cent more than October 2019, which is a signal of economic activity."

"Average daily toll collection is up by almost 120 per cent. So basically these are signals of economic activity going up. The GST collection has touched Rs 1.05 trillion, almost 10 per cent higher year-on-year. The FPI inflow is about $3.2 billion in October as compared to some negative figure for September. The number of issues in the capital market has gone up," he said.

"The FDI during April-August is $35.73 billion...external sector remains robust, our foreign reserves have touched almost $560 billion. We had a very good Kharif crop, Rabi is also good and we are hoping for a bumper Rabi crop...I should also mention the number of Covid cases are seeing a downtrend, the fatality rate is down, and now they are close to about 5 lakh cases. In case we keep taking precautions during the coming winter months and especially during festival season, I think we should be in better times," he said.

"So, despite Covid situation that we are facing, we find that there is a lot of interest, a lot of traction, there are a lot of enquiries from investors... a lot of deals are being talked about, which shows that despite Covid situation, our growth story which we feel is intact is also accepted by others who are ready to invest into India during these times," he said.

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India's Largest Carmakers Report; Increase In Monthly Sales

India’s largest carmakers posted strong monthly sales numbers on Sunday, signalling that demand could be returning to the country’s ailing economy during the festival period.

 

Maruti Suzuki, the country’s biggest automaker, said it sold 182,448 vehicles in October, an increase of nearly 19% over the same period last year.

 

India’s second-largest carmaker Hyundai said that it recorded its highest-ever domestic sales last month, selling 56,605 vehicles. The company’s previous highest monthly sales were in October 2018, when it sold around 52,000 cars.

 

Mahindra & Mahindra, maker of popular sports utility vehicles, reported that domestic sales of passenger vehicles had increased by 1% in October, compared to last year.

 

“For Mahindra, the festive season has started on a positive note with deliveries and bookings being higher than last year,” Veejay Nakra, CEO of the company’s automotive division, said in a press release.

 

Some Indian businesses expect a boost in sales during the country’s largest shopping season, spread over the festival period of October and November, with the pandemic shutdown leading to pent-up demand.

 

The Indian Car market has boosted in an extraordinary way, recently. It is just a gist of how strong Indian Market is, at this very moment. It is a perfect place to start a new business or relocate and MAK India Business Solutions PVT LTD is the perfect place to help you seamlessly implement your venture. 

 

 

 

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India's smartphone market hits record 53 million units in Q3, Samsung reclaims top spot

Smartphone segment in India rebounded after the lockdown to touch an all-time high of 53 million units in the September quarter, with Samsung toppling Xiaomi from the number one spot, according to research firm Counterpoint.

India's smartphone shipments grew 9 per cent year-on-year to reach over 53 million units in July September 2020 quarter - the highest-ever shipment in a quarter for the Indian smartphone market, Counterpoint said.

"The push from the brands coupled with the pent-up demand due to the lockdown and strong sales on online platforms led to this growth. Consumers are still preferring online platforms due to COVID-19 fears," it added.

Samsung led the smartphone market with a 24 per cent share, followed by Xiaomi (23 per cent), Vivo (16 per cent), Realme (15 per cent) and Oppo (10 per cent).

Counterpoint said Samsung became a leading brand in the Indian smartphone market after two years with 32 per cent year-on-year growth, and the strong performance was the result of multiple strategies, including effective supply chain and touching various price points through new launches.

Samsung's aggressive push in online channels, with the highest ever online contribution within its portfolio, also helped it regain its number one spot, it added.

Counterpoint Research Analyst Shilpi Jain said even the offline-centric brands like Vivo, Oppo and Itel are increasing their online presence due to the changing consumer behaviour.

"Though online channels remain in focus, OEMs are also trying to leverage new opportunities in offline channels in tier II and III cities... Additionally, the brands are focussing on affordability by announcing cashback, promotions and offers on devices," she added.

Jain said on the manufacturing front, the Indian government is focusing on increasing the local value addition.

"Mobile handset production is likely to increase in the coming time as schemes like Production Linked Incentive (PLI) start to impact the overall electronic manufacturing ecosystem. Indian brands like Micromax and Lava are expected to leverage the government's 'Aatmanirbhar Bharat' initiative and plan their comeback," she said.

The overall mobile handset market (smartphone and feature phone) grew 8 per cent year over year in the third quarter due to stronger consumer demand in the smartphone segment and stronger sales of feature phones.

Samsung led the overall market as well with a 22 per cent share, followed by Xiaomi (14 per cent), Vivo (11 per cent), Realme (10 per cent) and Itel (8 per cent).

"The Indian smartphone market is on a recovery path as the lockdown restrictions have been relaxed. The market has shown consistent growth for the last few months. It saw strong demand during the Independence Day period in August as major online platforms hosted massive sales," Counterpoint Senior Research Analyst Prachir Singh said.

September has always been a high sell-in month as brands prepare for the upcoming festive season and push stock in the channels, he added.

These savings are now being funnelled into smartphone purchases. Additionally, smartphones have become an integral part of consumers' lifestyle in this changing environment, he noted.

OnePlus remained the top brand in the affordable premium segment (Rs 30,000-45,000), driven by OnePlus 8 sales.

Counterpoint said a Basic Customs Duty (BCD) of 10 per cent was announced on display modules and touch panels, which will be effective from the next quarter.

This move by the Indian government will impact the cost of production since displays are majorly imported. But, it will boost the overall handset manufacturing ecosystem and local sourcing contribution, in the long run, it added.

India is one of the leading countries in the smartphone market and is still boosting which makes it a perfect place to start a new business or relocate. MAK India Business Solutions PVT LTD is the perfect one-stop place to start a new business or relocate. it is a perfect place to know everything about the Indian market there is to know. And we can help you with everything and anything. 

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Hero MotoCorp will develop new Harley-Davidson motorcycles

Embarking on a new journey, India's largest two-wheeler maker Hero MotoCorp and US cult bike maker Harley-Davidson on Tuesday joined hands to sell and service the luxury bikes in India.

In a regulatory filing, Here MotoCorp said that the company will sell and service Harley-Davidson motorcycles,

and sell parts, accessories, general merchandise riding gear and apparel through a network of brand-exclusive Harley-Davidson dealers and Hero’s existing dealership network in India.

As part of a licensing agreement, Hero MotoCorp will develop and sell a range of premium motorcycles under the Harley-Davidson brand name.

 

 

●       Hero will handle sales and after-sales for Harley-Davidson in India

 

●       Hero will develop a range of premium products, bikes under the Harley name

 

●       Future platforms could also be used under the Hero name

 

Such an elite company, Harley Davidson is ready to invest in the Indian market which tells you have strong is the Indian market. MAK India Business Solutions PVT LTD is the perfect one-stop place to know about the Indian market. We have the scope of consumer durable products launching in India. And we can help you with everything you need. We are capable of getting the solution comfortably at all the levels in a government department, semi-government licensing authority and permissions from Reserve Bank of India for foreign direct investment as per the norms of Ministry of Finance, Government of India, anything you need.

 

 

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FDI in India jumps 13% to record $49.98 billion in 2019-20

Foreign direct investment (FDI) in India rose by 13 per cent - the sharpest pace in the last four fiscals - to a record of $49.97 billion in 2019-20, according to official data.

The country had received FDI of $44.36 billion during April-March 2018-19.

 Foreign investments in the last fiscal grew at the sharpest pace since 2015-16 when the inflows had jumped by 35 per cent. Also, the country logged its all-time high FDI in a fiscal year since 2000-01 when the first such data was released.

 Sectors which attracted maximum foreign inflows during 2019-20 include services ($7.85 billion), computer software and hardware ($7.67 billion), telecommunications ($4.44 billion), trading ($4.57 billion), automobile ($2.82 billion), construction ($2 billion), and chemicals ($one billion), the Department for Promotion of Industry and Internal Trade (DPIIT) data showed.

Singapore with FDI inflows of $14,67 billion emerged as the largest source of foreign fund flows in India for the second financial year in a row. However, it is down from $16.22 billion in 2018-19.

 FDI is important as the country requires huge investments to overhaul its infrastructure sector to boost growth.

The overseas inflows during the January-March 2020 quarter also increased to $13.2 billion from $10.67 billion in the previous quarter (October-December 2019).

Total FDI into India including re-invested earnings and other capital in 2019-20 stood at $73.45 billion as against $62 billion in the previous fiscal.

In India, 271 million people were lifted out of poverty from 2005-06 to 2015-16, UNDP India Resident Representative Shoko Noda said, while releasing the report, “Beyond income, beyond averages, beyond today: inequalities in human development in the 21st century”.

South Asia was the fastest-growing region, witnessing 46 per cent growth during 1990-2018, followed by East Asia and the Pacific at 43 per cent.

With this increased FDI at this time, makes it a perfect place to start or relocate the business and MAK India Business Solutions PVT LTD is a one-stop place where you can know everything about the Indian market and we can help you with everything from scratch. We are capable of getting the solution comfortably at all the levels in the government department, semi-government licensing authority and permissions from Reserve Bank of India for foreign direct investment as per the norms of Ministry of Finance, Government of India.

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Niti Aayog CEO on a clear 10 year program for Clean Energy

NITI Aayog CEO Amitabh Kant on Monday stressed on the need for a clear ten-year road map to boost clean energy technologies and creating standards for innovations. Kant also called hydrogen as the fuel of the future especially for commercial vehicles which can ensure efficiency in movement across the country.

Speaking at the India Energy Forum by CERAWeek, Kant said, "We should provide a 10-year roadmap on where we want to be in clean (energy) technology. We should provide policy clarity to innovation stakeholders because a lot of innovation will keep happening as we go along."

 Developing countries like India need to create standards for new technologies which sometimes become a hurdle for Indian entrepreneurs to disrupt the global market with local innovation, Kant said.

India should focus on strengthening standards and certification infrastructure.

Kant also showcased India's ambitious target of having 450GW of renewable energy by 2030 at the international forum.

About the role of traditional energy, he said, "We believe that hydrogen is an area where traditional energy companies can be a game-changer given the similarities in the engineering needs of oil and gas and hydrogen processing technology."

Traditional or conventional energy companies are looking at hydrogen and biofuels these days.

India is the hub of renewable energy, which makes it a perfect place to set a business or relocate and MAK India Business Solutions PVT LTD is the perfect place for it. We can help you find everything about the Indian market. MAK has forthcoming projects on Hydrogen Energy and Waste Plastic to Energy from South Korea.

 

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Marico’s Harsh Mariwala: E-Commerce made business affordable, easier for startups

India’s FMCG guru and founder of $6 billion Marico, Harsh Mariwala, on how e-commerce has removed entry barriers.

 

• Speaking at the Business Insider Global Trends Festival 2020, Harsh Mariwala said the emergence of digital marketing and e-commerce has made it cheaper and easier for startups to make their mark in the segment.
• Modern trade and e-commerce contribute to 22% of total sales of Marico (as of FY20).
• Mariwala also spoke of brands like the one they have acquired Beardo or others like Mamaearth and Boat, who have made a mark for themselves in the consumer market.

 

“In the earlier days, if somebody wanted to launch a new product, they had to have a distribution network which would cater to 2-3 million outlets, which would be very very costly and unless you had a ₹1,000 crore turnover, you won’t be able to afford that,” the maker of iconic hair oil brand Parachute and edible oil brand Saffola said in a conversation at the Business Insider Global Trends Festival 2020.

 

The next big expenditure to ensure your brand is known and becomes a household name, companies had to splurge big money in television advertising. “So, for a startup, there would be a lot of odds before entering the FMCG sector. But with the emergence of e-commerce, you can prototype your products in these options and also use digital marketing, which is not as expensive as television marketing. We have seen a whole host of new entrepreneurs entering the consumer sectors,” he added.

 

Modern trade and e-commerce contribute to 22% of total sales of Marico (as of FY20).

Mariwala also spoke of brands like the one they have acquired Beardo or others like Mamaearth and Boat, who have made a mark for themselves in the consumer market.

 

Marico has an eye for startups entering the space. It is bracing for a game where younger, more agile startups are making a mark, and he is buying out some of them, like Beardo and Mamaearth.

 

Marico has also completed the 100% acquisition of the Ahmedabad-based startup Beardo, in which it had first acquired a stake in 2017. Beardo’s strong presence in the online men’s grooming segment is what drew Marico to the startup.

 

Talking about Beardo, Mariwala said, “At some stage of their journey, where they reach a certain level of turnover and when they have to expand it to physical distribution, that time they find it difficult – that’s when they are forced to divest or get into some sort of partnership.”

 

Even during the pandemic, Marico hasn’t been much affected as most of its products fall in the essentials category.

 

In the pandemic, people have started using more of E-Commerce, and India is the second-highest country to use the internet. Which makes it a perfect place to start  anything new or relocate and MAK India Business Solutions PVT LTD is the perfect place to stop by and know about the Indian market.

 

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Nestle plans to invest Rs 2,600 crore in India over the next 3-4 years

FMCG major Nestle India on Friday announced its plans to invest Rs 2,600 crore over the next three to four years to augment its manufacturing capacity in the country, terming the move as “vindication of confidence and trust” the company has in its Indian journey. The company, which saw a robust 10.23 per cent growth in its domestic sales in the July-September quarter, said its production units have returned to “normal output” post lockdown.

As per Nestle’s plan, the new investments are aimed at expansion activities of the existing units and towards the construction of its new upcoming unit in Sanand, Gujarat.

 Meanwhile, the FMCG major — which follows January-December financial year — posted a marginal 1.37 per cent drop in its net profit at Rs 587.09 crore in the third quarter ended September 30, 2020.

Its net sales, however, were up 10.19 per cent at Rs 3,525.41 crore during the period under review, the company said.

 Domestic sales in July-September moved up 10.23 per cent to Rs 3,350.10 crore as against Rs 3,039.09 crore in the year-ago period.

 Nestle, which presently operates eight production units in India, said its factories have returned to normal output and witnessed growth driven by an improved supply situation.

“Total sales and domestic sales both increased by 10.2 per cent driven by volume and mix,” Nestle India said in a post-earnings statement.

Its export sales were up 9.41 per cent to Rs 175.31 crore as against Rs 160.22 crore in the corresponding quarter a year ago.

 Commenting on the results, Nestle India Chairman and Managing Director Suresh Narayanan said: “The quarter witnessed growth driven by an improved supply situation, as our factories returned to normal output.”

 Nestle, which has a 108-year long association with India and nearly six-decade-long manufacturing journey, announced to deepen it by announcing further investments.

 “As a vindication of the confidence and trust in the Nestle journey in India, I am pleased to share that we plan to invest Rs 2,600 crore over the next three to four years to augment our existing manufacturing capacities, as well as towards our new under construction ‘state of the art factory in Sanand, Gujarat,” he said.

Nestle India said its profit before tax was up 12.40 per cent at Rs 786.50 crore over the same period a year ago.

 “Tax expense for the quarter ended September 2020 is not comparable. The cumulative effect of lower tax rate made applicable from April 1, 2019, was adjusted fully in the quarter ended September 2019. Net profit after tax and earnings per share are also not comparable for the same reason,” it said.

 According to Nestle, this quarter was boosted by double-digit growth in the in-home consumption of its key brands such as Maggi Noodles, Maggi Sauces, KitKat, Nestle Munch, Nescafe Classic and Nescafe Sunrise.

 Besides, demand in ‘Out of Home’ channels improved during the quarter but continues to be impacted due to the overall environment.

 “We continued our strong performance in the e-commerce channels, which grew by 97 per cent and now contributes about 4 per cent of domestic sales,” he said.

 Meanwhile, Nestle India in a separate filing informed that its board in a meeting held on Friday declared an interim dividend of Rs 135 per equity share of Rs 10 each for the year 2020 on the entire issued, subscribed and paid-up share capital.

 Nestle India board also approved the appointment of Matthias C Lohner, as whole-time director, designated as ‘Executive Director – Technical’ of the company with effect from November 1, 2020, for a term of five years, subject to requisite approvals.

 Earlier this week, its Swiss-based parent company Nestle while announcing its July-September quarter result had said: “India posted strong mid-single-digit growth, with good momentum in Maggi, Nescafe and KitKat.”

The Indian market was ranked at number 13 in terms of contribution to Nestle’s global revenue in 2019.

 Shares of Nestle India Ltd on Friday settled at Rs 15,863.00 on the BSE, down 0.30 per cent from the previous close.

Taking all these focuses on thought, India turns into a sweet spot for outside speculators who are taking a gander at extending their business and entering the Indian market. On the off chance that you are somebody who's taking a look at it, at that point our organization, MAK India Business Solutions PVT LTD offers far-reaching help for flawlessly migrating organizations or assembling unit in India.

 

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Agricultural exports recover from COVID-19 -induced fall

Exports of major farm products stood at ₹53,000 crores in the five months between April and August 2020-21, a rise of 14.8% compared to the corresponding period of 2019-2020, the export data show.

 Between April and June, or the first quarter, widespread trade disruption globally because of the pandemic and a lockdown caused exports of major farm products to fall 2.8% in value terms from the year-ago period. Exports turned positive following a pick-up from July. During the April to August period, farmers gained from higher exports of rice, wheat, sugar.

 Exports of basmati rice, a big-ticket export item among cereals, during April-August rose 8.2% to ₹13,660 from the year-ago period, while the value of non-basmati rice exports grew 91.3% to ₹11,570 crores, the data show.

 Goat and sheep meat shipments plunged 62.9% to ₹122 crore. Farmers benefited from a 43% rise in pulse exports to ₹1,039 crores. 

Agriculture is the primary source of livelihood for about 58% of India’s population. These are a few reasons which make India. Perfect fit to start a new business or relocate your business. And Mak India Solutions PVT LTD is the one-stop business solutions provider. We can help you start your business from scratch or relocate it and help you know your market or competition.

 

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September sees highest number of IPOs in last 30 months

Ten companies have launched their IPOs since July and many more are in the pipeline. September has been particularly busy with eight companies opening their public issues during the month.

Happiest Minds Technologies, Route Mobile, Chemcon Speciality Chemicals, Computer Age Management Services, Angel Broking, UTI Asset Management Company, Mazgaon Dock Shipbuilders and Likhitha Infrastructure launched their initial public offers during September 2020.

The last time eight companies hit the Street with IPOs was in March 2018.

In March 2018, eight companies - Bharat Dynamics, Bandhan Bank, Hindustan Aeronautics, Sandhar Technologies, Karda Construction, Mishra Dhatu Nigam, ICICI Securities and Lemon Tree Hotels - had come out with initial public offerings.

In September 2020, eight companies raised more than Rs 7,100 crore, much less than the Rs 15,711 crore garnered by eight firms in March 2018.

Close to 6 million demat accounts were opened in the last 9 months, taking the retail tally to 44.6 million accounts.

In September 2020, there was one government company, Mazgaon Dock Shipbuilders, which launched its IPO, while in March 2018, there were three government companies that raised money via an IPO.

But there is one area where September 2020 IPOs overtake March 2018 IPOs. It is the subscription numbers. Majority of IPOs' subscription figures in 2018 were in single digits, barring Bandhan Bank (14.56 times).

In September 2020, Happiest Minds Technologies witnessed subscription of 151 times, Chemcon Speciality Chemicals 149.3 times, Mazgaon Dock Shipbuilders 157.4 times (though it closed on October 1 but opened on September 29), Route Mobile 73.3 times, CAMS 47 times, Likhitha Infrastructure 8.4 times, Angel Broking 3.94 times and UTI AMC 2.3 times.

Experts expect the momentum in the primary market  to continue, as they feel LIC is also planning to launch its IPO by year-end, which is expected to be the biggest in the history of India.

Strong leadership and niche businesses everything is available in India now which makes it a perfect place to start or relocate your business. Mak India Business Solutions PVT LTD is the perfect place to come to. We help you with everything that you need to start a business, from knowing the market to perfectly making your vision come true.

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India is among top 3 choices for future Investments

 India will be one of the top three overseas investment destinations for the next two-three years, according to a survey by Confederation of Indian Industries (CII) and EY, which assessed the country’s competitiveness on selected parameters.

 According to the survey, India is the number one choice for future investments for over two-thirds of multinational companies. More than 80% of all respondents and 71% of the non-India headquartered respondents plan to invest globally over the next two-three years and about 30% companies are planning to invest over $500 million each globally.

 The respondents have picked market potential, skilled workforce and political stability as the top three reasons to make India their favoured destination.

 Other key factors which contribute to the attractiveness of India as an investment destination include cheap labour availability, policy reforms, availability of raw materials, corporate tax cuts, ease of doing business measures, simplification of labour laws, FDI reforms and focus on human capital have emerged as the top drivers for fresh investments.

 About 50% of respondents see India amongst the top three economies or leading manufacturing destinations of the world by 2025.

 Maharashtra leads the list of states with the highest contribution by investment value, the second spot is taken by Uttar Pradesh.

Delhi, Mumbai and Bengaluru emerged as the top 3 cities in terms of investment value, while cities such as Patna, Jaipur and Lucknow were surprising entrants in the top 10 cities.

 The India Investment Report 2020 is testimony that people’s efforts to reimagine & simplify the ‘money problems’ with tech-led wealth management solutions has empowered millions of Indian investors.

The world is turning to the Indian market, we are becoming worlds first preference for labour, land, locating factories, offices etc. and MAK India Business Solutions PVT LTD is there to help you with the best in the market. We understand the needs of your business and provide you with a customized solution that works for you and your business. We are uniquely qualified to handle all stages of the project life cycle, requirement analysis, design and implementation of any real-time project. Our accumulated expertise together with our advanced professional workbench and qualification environment combines to ensure MAK's services and solutions will exceed your expectations and requirements.

 

 

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PepsiCo India decides the additional investment of INR 500-800crores

PepsiCo India has decided to increase its investment from Rs 500 crore to Rs 800 crore in Uttar Pradesh, India. This would provide direct and indirect employment to over 1500 people in the state.

Many US companies have agreed to invest in India. While discussing the investment opportunities in UP with the representatives of the American Chamber of Commerce in India, the MSME minister assured of all help on behalf of state government. He said that PepsiCo has also decided to procure 118,000 tones potato from the farmers of Mathura and Kosi region. This would help in increasing the income of the farmers.

The minister said that Microsoft is already setting up a centre in Greater Noida, which will employ over 4000 people. He said the trade between Uttar Pradesh, India and the US are around $2.74 billion, which is mainly of textile, woodcraft, carpet, iron & steel items. Recently the US companies have shown interest in investing in the electronics and electrical sector at Noida and Greater Noida. The UP government is inviting investment in the food processing, leather, horticulture, and pharmaceutical and Agriculture sectors also.

PepsiCo is committed to double its business from snacks business in India and also increasing the capacity of existing food plants in West Bengal and Maharashtra, and it has additionally proposed to set up a greenfield manufacturing facility in Assam

As the festive season begins, the company expects an enhanced demand from categories like snacks, juices and other carbonated beverages led by the sentiment of celebration.

As people are going to have to stay home and celebrate festivals indoor, there is going to be more intake of bottles, cans etc.

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Indian Commerce Minister Piyush Goyal: Red Tape to Red Carpet

 

Commerce and Industry Minister Piyush Goyal on Monday said the country is well-poised to attract investments that wish to move out of China.

Speaking at the India Economic Conclave 2019, he said the tax reforms introduced by the government recently will ensure investments come back to India.

"I think India is well-poised to attract investments that wish to move out of China. We had a dialogue with a large number of companies. The income tax changes, which were approved by Parliament last week, are an important element in our plan to attract investments to and not let them go to any Southeast Asian countries which earlier offered attractive tax regime," he said.

Goyal further said the government is also looking at pooling together land which state and central governments have got to offer to investors for setting up their businesses in India.

"I have got PSUs including railways to create land pools for making land available easier to investors. We are monitoring and tracking that investment comes to India," he said.

The government has almost been able to sort out various differences that prevail between the US and India.

The bilateral trade continues to grow at great trajectory compared to last year so our trade is intact our relations are getting stronger by the day and the trade will help us move even further ahead.

The minister, along with External Affairs Minister S Jaishankar, was interacting with 131 missions from different geographies last evening through video conferencing.

Around 100 countries have benefited from Indian pharma, he said adding all nations are searching for countries which have a transparent dealing, rule of law, and are reliable.

"Indian missions should help us with identification of business opportunities that exist in their countries," Goyal said.

He added that the Department for Promotion of Investment and Internal Trade is working to create a genuine single window for setting up factories and manufacturing units.

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