India Is Soon To Be The 2nd Largest Electronic Manufacturing Market

India is stepping on the pedal to become an electronic manufacturing major. The pandemic has been the fuel. An exponential growth of connectivity in the country propelled India to become the country with the second largest mobile subscriber base in the world.

The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme for development of world class infrastructure along with common facilities and amenities through Electronics Manufacturing Clusters (EMCs) that will help India to become the mobile manufacturing hub in the world.

It is expected that these EMCs would aid the growth of the ESDM sector, help development of entrepreneurial ecosystem, drive innovation and catalyse the economic growth of the region by attracting investments in the sector, increasing employment opportunities and tax revenues.

The government has proposed a total outlay of the proposed EMC 2.0 Scheme at Rs.3,762.25 crore, which includes the financial assistance of Rs.3,725 crore and administrative and management expense to the tune of Rs.37.25 crore over a period of eight years.

Some of the expected outcomes of the Scheme include availability of ready infrastructure and 'plug & play' facility for attracting investment in electronics sector, new investment in electronics sector, jobs created by the manufacturing units and revenue in the form of taxes paid by the manufacturing units.

According to Manufacturers Association Of Information Technology (MAIT), India should now see large scale manufacturing happening in the country, translating into progressive increase in value addition from around 20 per cent to 35-40 per cent.

  

• Electronics Market is a sunshine market. Indian market has grown at a CAGR of 14% from 2016-19 and is expected to accelerate at a CAGR of 16.6% between 2020-25
• Electronics production currently contributes 3.3% to the economy. It will grow to US$320 Bn by 2025. With additional measures, it has potential to reach US$410 Bn, which will be 8.2% of US$ 5Tn India's GDP target by 2025
• Currently 50% of US$134 Bn of total Electronics products Demand is imported. By 2025, the total product Demand will reach to US$368 Bn, however, import can reduce to 29%, saving US$76 Bn of foreign exchange
• The Industry has the potential to Increase GDP contribution from present 3.4% to 8.2% in 2025

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India's export bounce back post Covid19

                                                   

India’s outbound shipments rose for the first time in seven months with merchandise exports registering a 6% growth in September—higher than 5.3% suggested by provisional data released earlier--driven mostly by an increase in demand for engineering goods, petroleum products, pharmaceuticals and readymade garments.

Major export commodities that grew in September include iron ore (109.7% at $303.42 million), ready-made garments (10.2% at $1.19 billion), rice (93.9% at $725.14 million), and drugs and pharmaceuticals (24.4% at $2.24 billion).

Since, March of this year, both exports and imports started declining in high double digits, even temporarily leading to a trade surplus in June for the first time in 18 years.

Aditi Nayar, principal economist, ICRA Ltd,  said that decline in gold imports in September suggests the pent up demand related to the lockdown period has been mollified. “However, imports may rise in the next two months with the festive and marriage season coming up, as well as the potential of a rise in rural demand after the kharif harvest.”

According to data released by the commerce and industry ministry on Monday, exports stood at $32.55 billion in March, taking the total tally in 2018-19 to $331 billion. While it is the first time that outbound trade has remained above $300 billion for two consecutive years, exports couldn't cross the government’s internal target of $350 billion. In the 2017-18 financial year, exports stood at $303.52 billion.

After such a long haul everything is getting back on track, and this is the time to proliferate your business and for that you can visit MAK India Business Solutions PVT LTD. We are a group of highly experienced professionals from various fields coming together with a sole objective to encourage the global entrepreneur and foreign investors to come and do business in emerging India at this Right Time.

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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.

Initiatives like this open up global opportunities to extend business and if by some chance, you’re an organization taking a gander at such opportunities then, MAK India Business Solutions PVT LTD goes about as a one-stop facilitator in making that extension reasonable and advantageous with offering far-reaching help for growing your business in the possible market with consistent help.

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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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India at its best: TCS surpasses Accenture to become most-valuable IT firm globally

TCS, IT services, is a consulting and business solutions institute offering amazing services to international enterprises. This Thursday, the largest software exporter of India, Tata Consultancy Services(TCS) became the most valuable information technology company internationally overtaking its competitor Accenture for the very first time by dominating in market capitalization. Tata Consultancy Services has also recently increased the salary of its employees. This is on account of the good performance of the company.

 On Thursday, TCS closed 3.19% higher at Rs 2,825 on BSE which has brought its market capitalization to $144.73 billion. Whereas the value of Accenture is currently at $143.4 billion on the Nasdaq. On the other hand, IBM’s market capitalization is at $118.2 billion currently. Shares of TCS were strengthened on Thursday by more than expected performance in the second quarter ended September. The firm announced a buyback worth Rs 16,000 crore. The company also declared an interim dividend of Rs 12 for every share.

 Also, the company says in a report that revenue rise was 3% on a year on year(YoY) to Rs 40,135 crore. It also reported that global clients are spending more on cloud and digital projects. This is to keep pace with changes in businesses resulted from the COVID pandemic. A report by Motilal Oswal Research recently says that “The company impressed with the growth in revenue by 4.8% quarter on quarter(QoQ). Broad-based growth across the world signals healthy recovery across different segments.”

 TCS reported a 6.87% dip in the quarter of September sum of Rs 7,504 crore. But, there is a faster recovery in the demand than projected and will be continuously going ahead as well. Several analysts said that the main aspect of the improved performance of TCS compared to the previous quarter was that the TCS had experienced a sharp jump back in growth in key verticals like Retail & CPG, BFSI, and Lifesciences.

 TCS continually improves its human capital by acquiring the best-talented people available in each of the sectors and markets it operates in. That is why it’s the world’s most valuable company.

 With its new hit in share price TCS isn’t just the most valued IT Services Company in India but become the most valued globally. 

This year, IBM is in third place, Accenture in second position and TCS at first place. As per the Bombay Stock Exchange (BSE), TCS worth is $144.73 billion and that of Accenture is $143.4billion capitalized by NASDAQ. On October 8, TCS stock closed over 3% higher value. TCS share price has gone up more than 30% since January and since the pandemic outbreak TCS stock is 70% up. “This is very commendable as almost all of its performance has come on the back organic growth, low employee attrition and high EBIT margins”, said Nirmal Bang, an online stock and share market trading company.

 In the September quarter of FY21, TCS revenue was up by 4.8% and the profit growth is nearly 7%. The company’s board of directors approved a share buyback worth INR 16,000 crore, a move which some people expect other IT industries to follow.

 India’s largest software exporter Tata Consultancy Services (TCS), which went past IBM’s market capitalisation on Monday, is about 11 per cent away from turning more valuable than Adobe Inc.

 The Tata group company’s revenue has risen 12 per cent on a compounded basis in the past five years.

 Tata Consultancy Services became the second Indian firm after Reliance Industries to attain a market valuation of more than Rs 10 lakh crore. It overtakes the Accenture for the first time in the year and became the world’s most valuable IT company.

 Among all the other Indian companies, Tata Consultancy Services is only behind Reliance Industries in terms of market capitalization which is at nearly USD 215 billion.

 TCS managing director said ” The company’s positioned strongly to benefit from secular demand drivers. We also want to say we are in the midst of sustainable demand recovery and this recovery has some more legs to go.”

 The company reported a profit after tax of Rs 7,475 crore for the quarter ended September 2020, registering a 6.7 percent sequential growth. Following the rally in its share price, the company’s market valuation jumped Rs 69,082.25 crore to reach Rs 10,15,714.25 crore at close of trade on the BSE.

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Buzz-Maker MG Group is planning to expand it's car manufacturing with Volkswagen/Mahindra Ford

 

MG Motor is in talks with Volkswagen in addition to the Mahindra-Ford JV to lease out their crops for contract manufacturing its vehicles in India. The transfer comes as the corporate — a British model however a subsidiary of China’s SAIC — faces elevated authorities scrutiny in view of the border tensions between India and China, particularly relating to contemporary funding plans.

“Talks have been initiated, and MG — which is presently manufacturing vehicles at its facility in Halol (Gujarat)— is now taking a look at sourcing autos from different corporations as a part of a contract-manufacturing route,” sources advised

Talks had been initiated with each the VW Group — which is a Chinese language and European associate of SAIC and MG — and likewise with Mahindra-Ford. “It must be seen the place the synergies are deeper. The talks with each corporations have occurred individually.” Lastly, MG will go together with just one associate.

The supply added that “in all chance, possibilities of a take care of the VW Group look stronger in view of the present strong relations” between SAIC and VW internationally. “VW is severe in becoming a member of palms with MG Motor in India. It helps them develop their worldwide relationship to India, whereas additionally serving to them utilize the idle manufacturing capability at their India factories.”

W. A spokesperson for the VW Group in India stated, “We don’t touch upon market hypothesis.”.

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