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The Dollar Business Bureau Indian-origin businessman Sanjeev Gupta is likely to bail out yet another ailing plant in Britain after he agreed to acquire the UK’s biggest producer of merchant bars that are used in shaping steel products. As per the deal, Gupta’s Liberty House Group will buy out 100% of the share capital of the Caparo Merchant Bar Plc (CMB) from its managers of Caparo Industries. The acquisition forms a part of Liberty House’s broader strategy for Britain’s steel industry, with taken over major parts of Tata Steel’s UK business and earlier acquiring a large part of Caparo’s engineering operations when the plants owned by Indian-born business magnate Lord Swraj Paul, went into management in 2015. “CMB remained solvent despite its parent, Caparo Industries Plc, ...

The Dollar Business Bureau The US-India Business Council led delegation participating at the Aero India 2017, pledged to support the Make In India campaign of the Indian PM. This could be a show of solidarity and the furthering of US-India defence ties. The ongoing Aero India 2017 show at Bengaluru, is playing host to more than 20 senior executives from American aerospace and defence companies. USIBC is led by George Standridge, VP for Strategy and Business Development for Lockheed Martin and Tom Bell, Senior VP, Boeing. Some of the top defence executives representing companies like Honeywell, Harris Corporation, Textron Systems, Arconic, Raytheon and Telephonics are also a part of USIBC delegation, a statement released by USIBC said. India enjoys the exclusive tag of ...

The Dollar Business Bureau The India story continues to be strong. India is one of the fastest growing FDI (foreign direct investment) sources for the United States with investors from the country exhibiting interest in US aerospace and textile sectors, among others, a top official at US Embassy said. “India is the fastest growing source of FDI into the US. The total stock of FDI from India to the United States is $11 billion,” Paul Frost, commercial attaché at US Embassy said. Frost also highlighted how sectors such as aerospace, textiles, IT and life sciences have been generating interest among Indian investors. “The number is growing and we expect this number to keep growing. Indian companies have also been making large ...

 The Dollar Business Bureau South Korean companies will play a strategic role in partnering with Indian companies, said industry body FICCI. While describing the bilateral cooperation as “path breaking”, the Federation of Indian Chambers of Commerce and Industry (FICCI) said that the initiative will pave ways for joints strategies to develop a stable and secure South East Asian Region from the defence and aerospace perspective. Praising South Korean industries for cutting-edge technologies, products and systems, the industry body said that many of these are apt for adaptation and building in India for Indian armed forces through co-development and co-production under the Make-in-India initiative of the Indian government. During Prime Minister Narendra Modi’s visit, both the countries agreed to work towards ...

Aravind Melligeri, Chairman & CEO, Aequs | Aequs targets revenues from the automotive business to grow to $30 million by 2020 and says that higher levels of FDI in aerospace and defence will help boost both volume and capability of the company Jayashankar Menon | @TheDollarBiz Helped by the growing reliance of leading global automobile manufacturers to outsource their auto component manufacturing to India, the country's exports from this sector are forecast to surge over three times from the current levels of $12 billion to $40 billion by 2020. Buoyed by the growing demand, the India-based precision engineering component manufacturer Aequs is targeting $30 million of its revenues to come from its automotive business alone by 2020. The company already supplies precision engineering components ...