India proactively boosting trade ties with Africa, Sitharaman
The Dollar Business Bureau Various steps have been taken by Government to enhance trade and commercial relations with African countries, the minister for Commerce and Industries told the Upper House. Replying to a question in the Upper House, Nirmala Sitharaman said bilateral trade between India and African countries are reviewed regularly, including through bilateral mechanisms like of Joint Trade Committee Meetings and Joint Commission Meetings. The 4th India-Africa Trade Ministers’ Meeting was organized in New Delhi on October 23, 2015. Negotiations to enter into Free Trade Agreement with the Common Market for Eastern and Southern Africa (COMESA), a Regional Economic Community in Africa, Preferential Trade Agreement with the South African Customs Union (SACU) and a Comprehensive Economic Co-operation Partnership Agreement (CECPA) with Mauritius ...
Renault India to expand export markets
The Dollar Business Bureau Renault India Pvt Ltd, a subsidiary of French auto maker Renault SA, is planning to increase its exports from India to other countries. The company is looking to make this country into a manufacturing hub for exporting its cars to Asian and African countries. The company has started shipping its car models - Duster and Kwid to Sri Lanka in July. It will be entering Nepal this month and also preparing to enter Bhutan soon, said Sumit Sawhney, Country Chief Executive Officer and Managing Director, Renault India Operations. Other than these neighbouring countries of India, Renault is looking to tap the African markets as well. The company is working on a strategy for exporting cars to South Africa, which may get finalised ...
India to lend Kenya $45 mn for industrial development
The Dollar Business Bureau India to provide $45 million Line of Credit to Kenya to help in developing a textile unit and other small industries, the leaders of two nations said on Monday. Prime Minister Narendra Modi and Kenyan President Uhuru Kenyatta have signed seven trade agreements. The two agreements, part of the seven deals signed, were a Line of Credit pact for $15 million to Kenya’s Industrial Development Bank Ltd (IDB) for the development of small scale and medium enterprises (SMEs) and an agreement of Line of Credit for $29.95 million to revive the Rift Valley Textiles (Rivatex) factory in Kenya. “The ties between the two countries are rich and long-standing. The multi-faceted partnership for development is a major pillar of our bilateral ties. ...
Mahindra launches Gusto scooter in 8 more states
The Dollar Business Bureau Mahindra Two Wheelers, a part of Mahindra & Mahindra Ltd, on Wednesday launched the all-new Mahindra Gusto scooter in 125cc variation in 8 more states, priced between Rs.48,410 and Rs.55,110 respectively (ex-showroom). The company had earlier launched the Gusto 125 model in southern states including Kerala, Karnataka, and Tamil Nadu. Now, it will be available across dealers in 8 northern states of Delhi, Gujarat, Goa, Maharashtra, Uttar Pradesh, Chandigarh, Punjab and Rajasthan before being rolled out all across the country, Mahindra Two Wheelers said in a statement. Vinod Sahay, Chief Operating Officer, Mahindra Two Wheelers said, “Since its launch last year, Gusto has grown consistently and we are now excited about extending the Gusto brand to include new consumer ...
LATAM becomes Indias largest auto export market
The Dollar Business Bureau Africa has been one of the most vital markets for Indian automobile exports over the past few years. But now, Latin America (LATAM) has become the biggest automobile export market of the country, overtaking Africa. The export figures for the year 2015 showed that India shipped more than 25 percent of value of vehicles to the markets in Latin America as compared to 21 percent a year earlier. In the meantime, exports to Africa witnessed a drop for the first time in the past decade. The export of vehicles from India, including cars, motorcycles, buses, trucks and chassis fitted with engines, stood $8.86 billion (Rs.59,360 crore) in the fiscal ended March, 2015. While total vehicle shipped remained stable, exports ...
Dollar Industries eyes Rs.1,000 cr revenue
The Dollar Business Bureau Besides venturing into new markets and introducing a children’s wear segment, hosiery maker Dollar Industries is aiming for Rs.1,000 crore revenue in FY17. The Kolkata-based company’s Joint Managing Director Binay Kumar Gupta, stated that the company is eyeing for whopping turnover of Rs.1,000 crore and is even planning to expand its presence in India with special focus towards south Indian customers. In FY16, the company registered a total revenue of Rs.829.94 crore. Indicating strong growth of the company, the total revenue generated by the company in FY15 was Rs.730 crore. Gupta revealed that Dollar Industries has 15% share in the Rs.10,000 crore in the Indian organised knitwear industry. In the coming two years, Dollar is planning to introduce children’s wear. Apart from ...
India must get more integrated with South East Asian countries & others
The Dollar Business Bureau Tariff reduction impacts of the proposed Trans-Pacific Partnership (TPP) agreement, in terms of reduction in market access opportunities, will be relatively more on South American non-TPP countries as compared to non-TPP countries of the Association of South East Asian Nations. This is because ASEAN economies are relatively more Integrated through their production networks, said a report. Therefore, India should get more and more integrated to ASEAN +5 (including Australia, China, Japan, New Zealand and South Korea) production networks so as to mitigate the negative impacts of TPP (and another mega regional: Trans-Atlantic Trade and Investment Partnership (TTIP) on its market access. At the same time, this integration to ASEAN+5 production networks should balance India’s need for new employment generation with that of ...
