Indias meat export rises to 13.53 lakh tonnes in 2016-17: Sitharaman
The Dollar Business Bureau Meat exports from India rose to 13.53 lakh tonnes in the financial year 2016-17 from 13.36 lakh tonnes a year ago, Commerce and Industry Minister Nirmala Sitharaman informed the Parliament on Wednesday. However, in value terms, exports dropped to Rs.27,184 crore in 2016-17, compared to Rs.27,528 crore in 2015-16. “The Commerce Ministry has received no complaint with regards to the prevention of production of leather and meat, Sitharaman said in a written response to the Rajya Sabha. However, the export of buffalo meat was declined, according to the data, she said. During April-May period of 2016-17, buffalo meat export was $554 million whereas it stood at $530 million during the same period this ...
JLR witnesses best ever sales in January, up by 4%
The Dollar Business Bureau Jaguar Land Rover (JLR), owned by Tata Motors, on Monday reported its best-ever retail sales in the month of January at 47,693 units, an increase of 4% compared to the corresponding month of 2016. The sales performance in the given month has been led by the ongoing success of the models Jaguar F-PACE, XF, Range Rover Sport and Land Rover Discovery Sport. “Jaguar Land Rover has achieved its best-ever January sales performance in 2017, with total retail sales of 47,693 units, up 4% on the prior year, primarily driven by the ongoing success of the Jaguar F-PACE, XF, Range Rover Sport and Land Rover Discovery Sport,” the company said in a filing. Jaguar model registered retail sales of 13,949 units ...
Maruti Suzuki India contributes to 50% of Suzukis global sales
The Dollar Business Bureau The Indian arm of Suzuki Motor Corporation (SMC), Maruti Suzuki India contributed more than 50% to its parent company’s global sales in terms of volumes in the period April-December of the current fiscal. SMC said that during April to December period of this fiscal, its Indian automobile sales stood at 10.61 lakh units, whereas its total global sales stood at 20.83 lakh units at 50.93%. In the same period last fiscal, the company said that its sales in India stood at 9.72 lakh units out of an overall sales across the globe of 20.40 lakh units, making up for 47.64%. SMC on Monday reported that the company’s consolidated operating income increased by 14.4% to 167.4 billion yen (around $1.49 ...
Motherson Sumi to acquire Finlands PKC Group for $609 mn
The Dollar Business Bureau India-based leading car parts manufacturer Motherson Sumi Systems Ltd (MSSL) has agreed to acquire Finland’s truck wire manufacturer PKC Group for $609 million (571 million euros). “At a meeting of its Board of Directors held on January 19, 2017, MSSL has approved a proposal to launch a voluntary, recommended public tender offer for the acquisition of the outstanding share capital and voting rights of PKC Group Plc (PKC), Finland,” Motherson Sumi said in a statement. MSSL has offered a cash consideration of 23.55 euros per share/options, representing a 51% premium to a closing price of PKC on Thursday, it said. MSSL will extend a voluntary and recommended public tender proposal to buy all the outstanding and issued shares and options ...
Renault expects sales growth of 8% in India this year
The Dollar Business Bureau French automobile manufacturer Renault expects that the company’s sales in India to rise by 8% in 2017, with the country becoming its eighth largest market globally driven by the successful entry-level small segment car model Kwid. Groupe Renault, which witness a record worldwide sales of 31,82,625 units surging by 13.3% in 2016, recorded a sales growth of 145.6% in India. “In India, Renault kept its position as best-selling European automotive brand, with sales up by 145.6%. Kwid registrations totalled 1,05,745. India rose five places to become the groups eighth-biggest market worldwide,” Renault said in a statement. The company’s sales globally were growing for the fourth year in a row, it added. “In the Africa/ India/Middle-East market, Renault’s registrations increased by 36.4%, providing ...
Aurobindo Pharma plans to launch 200 products in Europe
The Dollar Business Bureau Drug manufacturing company Aurobindo Pharma Ltd is planning to launch around 200 products in the European market in the coming four years in order to enhance the product portfolio of the company. “The next lever of growth will come from new products which are being developed. Currently, we have almost 200 products under development for Europe alone and that will be launched over next three to four years,” Sanjeev Dani, COO & Head Formulations, Aurobindo Pharma told analysts. That will be the growth driver in the Europe, he added. In the first quarter of the fiscal 2016-17, the formulations sales of the company in Europe stood at Rs.831.2 crore witnessing a growth of 12.1 percent year-on-year. In the segment of formulations, the EU market ...
British IT firm merges with Indian software firm
Source: PTI British IT and software firm RSK Business Solutions has merged with its Indian partner BSL Information Technology to jointly deliver consultancy services in different parts of the world. England-headquartered RSK Business Solutions Limited (RSK BSL) merged with its Gurgaon-based Indian partner BSL Information Technology Private Limited (BSLi) to create UK-registered RSK Business Solutions Holdings Limited. The merger will enable both entities to jointly expand services to new regions and markets, the firms said on Monday. "The merger will enable us to provide a wider range of services to new and existing clients while maintaining the high levels of customer service and the high quality of output to which our clients have become accustomed," Managing Director of the ...
Pharmexcil to compile CAGR forecast on pharma exports
The Dollar Business Bureau Committed to enhance India’s market share in Europe, Pharmaceuticals Export Promotion Council (Pharmexcil) is planning to begin its work on preparing a document forecasting the country’s likely CAGR (compounded annual growth rate) in the coming four years. This step comes at a time when pharmaceutical sector is being recognised by government amongst the top sectors for export with high potential. In this context, Pharmexcil has been asked by the government to compile a forecast of possible CAGR in the coming four years, keeping 2015-16 as the base year with a growth rate of 4.5 percent of the country’s pharmaceutical exports to the Europe. To speed up activities, the council has already urged all the stakeholders to provide ...
