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.

 

This is an arrangement, which has opened the entryways for a changed International game plan. This is a very good time for foreign investors to enter the Indian market and explore more opportunities. If you are a company that is looking to enter the Indian Market, then our company, MAK India Business Solutions PVT LTD acts as a facilitator in making that expansion viable and convenient with providing comprehensive support for expanding your business in the potential market or seamlessly relocating of the business or manufacturing unit in the country.

 

Email id: ceo@makinindia.in

Call       : +91 88284 61868

www.makinindia.in

https://www.makinindia.in/blog.html

Read More

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.

These elements make the Indian Economy one of the most beneficial market for foreign investors to extend their business and enter the Indian market. On the off chance that you are likewise looking to extend your business, at this point our organization MAK India Business Solutions PVT LTD is the ideal spot for you to stop, as we offer far-reaching help for consistently migrating organizations or assembling unit in the nation.

 

 

Email id: ceo@makinindia.in

Call       : +91 88284 61868

www.makinindia.in

https://www.makinindia.in/blog.html

Read More

Indian State of Maharashtra inks Rs 35,000-Crore MoUs with 15 companies

Amid the COVID-19 pandemic, the Maharashtra government On Monday inked Memorandum of Understanding (MoUs) worth around Rs 35,000 crore with 15 companies even as Chief Minister Uddhav Thackeray called for attracting over Rs 1 lakh crore investments this year to the state. Thackeray made the remarks during the Magnetic Maharashtra 2.0 event, which seeks to mobilise investments in the state.

The MoUs worth Rs 34,850 crore were signed between the state-run Maharashtra Industrial Development Corporation (MIDC) and the 15 companies and they are expected to create 23,182 jobs, a statement said. 

The event was also attended by Industries Minister Subhash Desai and Minister of State for Industries Aditi Tatkare.

Speaking at the event, the chief minister lavished praise on the governments industries department for its efforts to attract investments in the state. 

"If I may say so, my wish for Maharashtra, in its 60 years of statehood, is that this year we must have over Rs 1 lakh crore of investments and I have full faith that our industries department will live up to it”,he said. 

Thackeray said the government had signed MoUs with other companies in June this year and added it has been fulfilling most requirements pertaining to those. 

Sixty per cent of the companies have got land allotted and the rest are in the process of final allocation, he added. 

The CM further said that Maharashtra offers faith, justice and stability to investors and the around Rs 35,000 crore investment is result of that faith and hard work of the states industries department. 

Referring to the COVID-19 crisis, Thackeray said that world leaders are faced with tough choices between life and economy and safety and unemployment due to the pandemic. 

“Today, as we sign MoUs with 15 top companies of the world, I can humbly say that Maharashtra will emerge stronger out of this crisis”’he added.

Here’s a glimpse of the Chief Minister talking about the prospects of the growth of the Indian market in the coming years and why it’s the perfect spot for investors to put in their money in the country. If you are also someone who’s looking to expand your business in India then our company, MAK India Business Solutions PVT LTD is the perfect place for you as we provide comprehensive support for seamlessly relocating businesses or manufacturing unit in the country.

 

 

Email id: ceo@makinindia.in

Call       : +91 88284 61868

www.makinindia.in

https://www.makinindia.in/blog.html

Read More

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. 

 

 

 

Email id: ceo@makinindia.in

Call       : +91 88284 61868

www.makinindia.in

https://www.makinindia.in/blog.html

 

 

Read More

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. 

Email id: ceo@makinindia.in

Call       : +91 88284 61868

www.makinindia.in

https://www.makinindia.in/blog.html

Read More

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.

 

 

Email id: ceo@makinindia.in

Call       : +91 88284 61868

www.makinindia.in

https://www.makinindia.in/blog.html

Read More

UK-India 9th Economic and Financial Dialogue

Finance Minister Nirmala Sitharaman participated in the 10th India-UK Economic and Financial Dialogue on Global Responses to coronavirus through Video Conferencing.

FM Sitharaman said that aid that India-UK economic ties are important, as together they are two of the world’s top seven economies with a combined GDP of over $5 trillion.

She said, the trade between the two countries has more than doubled since the first EFD (eFunds corporation) in 2007, with bilateral investment supporting over half a million jobs across both countries. 

The Minister said that this session on sharing of experiences on coronavirus response domestic priorities and policies for economic recovery will help both countries refine their policies and help in learning to ensure better outcomes.

Sitharaman said India and the UK have a joint investment of up to 8 million pounds between their departments of biotechnology for research into factors leading to the severity of the novel coronavirus.

UK Chancellor of Exchequer Rishi Sunak conveyed to Finance Minister Nirmala Sitharaman that he appreciated India becoming the second largest PPE manufacturer in the world.

Sitharaman said the UK-India FinTech Joint Working Group met in March 2020 to seek greater acceptance of RuPay Cards in the UK. 

Further, speaking about the UK-India Capital Markets Working Group's initiative, led by the City of London Corporation, in partnership with the India UK Financial Partnership (IUKFP), she said for attracting inflows to India’s capital markets will help the economy.

"India-UK strategic collaboration helped to accelerate the development of GIFT City with Standard Chartered and HSBC opening offices in Gift City in 2020, becoming the first foreign banks to be licensed to operate an international banking unit," the finance minister said.

UK has increased trading with India, which makes India a very trustworthy and resourceful market. And MAK India Solutions PVT LTD is the perfect place to start a business or to relocate. MAK provides total support for Entrepreneurs and International Trade & Developers. We will implement your concepts and if required will co-ordinate with you in setting up a company in India as required for your project.

 

Email id: ceo@makinindia.in

Call       : +91 88284 61868

www.makinindia.in

https://www.makinindia.in/blog.html

Read More