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					                                Eye on India
      A monthly update on Indian industry, politics, economy and policies




                                            July 2011

Prepared by The Core Team, Genesis Burson-Marsteller            www.genesisbm.in
Index




 Political Commentary       1

 Economy - Highlights       2

 Policy Tracker             3

 Bureaucratic Movements     5

 Sector Spotlight           6

  Automobile                6

  Aviation                  8

  Consumer Durables         8

  Defence and Aerospace     9

  Energy                    10

  Finance and Insurance     11

  FMCG and Retail           12

  Healthcare & Biotech      13

  Infrastructure            14

  IT/ITES                   15

  Manufacturing             16

  Media and Entertainment   16

  Telecom                   17

 Bibliography               18
Political Commentary




The much awaited reshuffle of the Union Cabinet of            For draft legislations to be passed into law a peaceful
ministers took place on July 12, but it was far from          session of Parliament is needed. Recent events such as
“expansive” as promised by Prime Minister                     developments in the 2G scam case, resignation of
Manmohan Singh in January. Same old faces were                Textiles Minister Dayanidhi Maran in the 2G scam case,
moved around and a few dropped. Through this                  the manner in which a fasting Baba Ramdev and his
Cabinet reshuffle the prime minister could have               followers were tear gassed out of Delhi when
signalled his government’s seriousness to get down            protesting against corruption in high places would only
to the business of governance. Unfortunately, it has          see the Opposition Bhartiya Janata party (BJP) disrupt
only given credence to a perception that the prime            parliament work.
minister is not leading the nation the way he should
be.                                                           A controversial report on 2G scam made by a
                                                              parliamentary committee headed by a prominent BJP
Dr Singh has said that this would be the last reshuffle       leader is another subject on which the Congress and
before the 2014 parliamentary polls. This statement           Opposition MPs will clash. Relationship between the
has evoked more questions about the working of this           ruling coalition and BJP is far from cordial. This will
government than show that the new team of                     translate into less work in Parliament.
ministers will get down to serious work.
                                                              Another potent political issue will be the demand for a
The reshuffle comes just before the monsoon session           new state of Telengana, which is to be carved out of
of Parliament that starts on 1 August. The session            the southern Andhra Pradesh state.
were delayed to ensure that the Union government
got ready with a new anti-corruption bill for setting         While political divisions will keep government managers
up of an ombudsman, or Lok Pal, to tackle                     on their toes in Parliament, the 2G scam case will see
complaints of corruption by politicians and                   filing of a charge sheet by the Central Bureau of
bureaucrats. There is no word on the new draft                Investigation (CBI) that is probing the case and several
legislation that has been readied. Meanwhile, the list        companies might find themselves mentioned in there.
of pending bills that need parliamentary approval has
only increased.




                                                          1
Economy - Highlights




Reserve Bank of India released its Monthly Bulletin           Non-food manufactured products inflation was 8.5
on July 11, 2011. The policy document contained the           per cent in March 2011. Provisional data indicate that
following economic highlights:                                it increased from 6.3 per cent in April to 7.3 per cent
                                                              in May 2011, numbers much above its medium term
Industrial Production: GDP growth fell to 7.8 per             trend of 4.0 per cent. This pattern in non-food
cent in Q4 of 2010- 11 from 8.3 per cent in the               manufactured products inflation is a matter of
previous quarter and 9.4 per cent in the                      particular concern.
corresponding quarter a year ago. For the year as a
whole, GDP growth in 2010-11 was 8.5 per cent.              Fiscal Balance: The Government’s cash balances
While private consumption was robust, investment            moved from a surplus of 89,000 crore on an average
activity moderated in Q4 of 2010-111.                       during Q4 of 2010-11 to a deficit of 29,000 crore during
                                                            Q1 of 2011-12 (up to June 15, 2011). Consequently,
  Central Statistical Organisation (CSO) released the       net injection of liquidity through liquidity adjustment
  new series of industrial production with 2004-05 as       facility (LAF) repos declined from an average of 84,000
  the base. While the y-o-y IIP growth moderated to         crore during Q4 of 2010-11 to 41,000 crore in 2011- 12
  6.3 per cent in April 2011, growth in capital goods       (up to June 15, 2011). The net liquidity injection by the
  production at 14.5 per cent was buoyant. During           Reserve Bank was higher at 60,000 crore as on June
  April-May 2011, both exports and imports increased        15, 2011.
  sharply and the trade deficit widened.
                                                            Repo Rate: On the basis of the current
WPI Inflation: The headline WPI inflation rate was          macroeconomic assessment RBI increased the repo rate
9.7 per cent in March 2011. In April 2011, it was 8.7       under the LAF by 25 basis points from 7.25 per cent to
per cent and rose to 9.1 per cent in May 2011. The          7.5 per cent with immediate effect2.
numbers for April and May 2011 are as yet
provisional and, given the recent pattern, these
numbers are likely to be revised upwards. Thus, the
headline WPI inflation rate remains elevated.




                                                        2
Policy Tracker




Below is a snapshot of some recent crucial regulatory         Defence and Aerospace
developments that can potentially have a far reaching
impact on India’s business climate:                            IT Waiver to Rolls Royce for Embraer Aircraft
                                                               Maintenance up to Rs 35.43 Crore: The Central
Automobile                                                     Board of Direct Taxes (CBDT) has given tax
                                                               exemption to the US based Rolls Royce Defense
  Auto industry worried about duty cuts in FTA                 Services Inc on its income of up to Rs 35.43 crore
  with EU: Amid speculations of India giving in to             from maintenance of Embraer aircraft, owned by the
  EU's demand on lowering duty on imported cars in             Indian government. The exemption has been given
  the proposed free trade agreement (FTA), the auto            under a clause of section 10 of the Income-tax Act,
  industry has cautioned that if such a concession             19617.
  was granted, future investments in the sector in
  the country will be hit. The industry pointed out            Govt May Ease Rules for Large Overseas
  that such a move would create disparity among                Defence Contractors: India may ease rules in the
  global companies from Japan and Korea with those             next few weeks for large overseas defence
  in Europe3.                                                  contractors on sourcing components from domestic
                                                               vendors. Foreign firms may be allowed to cite project
  RBI Rate Hike Will Dampen Demand-Auto                        and supply chain management costs and provide
  Industry: With the Reserve Bank of India raising             financial services, via intermediaries, to small and
  key interest rates by 25 basis points, automobile            medium-scale enterprises as part of their so-called
  industry captains feel the move will further dampen          offset obligations8.
  demand in the auto sector of the country. The
  Reserve Bank raised key interest rates by 25 basis          Energy
  points, the tenth time since March, 20104.
                                                               Half of Firms Awarded Solar Projects Yet to
Aviation                                                       Achieve Financial Closure: The ministry of new &
                                                               renewable energy has said half of the 37 firms
  New Route Dispersal Guidelines-Airlines May                  awarded solar power projects are yet to achieve
  face Trouble in Ensuring Better Connectivity                 financial closure and their contracts will be
  to Smaller Towns: The aviation ministry is                   terminated if they miss the July 9 deadline. "Any
  reworking capacity distribution norms for airlines to        failure in meeting the deadline would result in
  ensure better connectivity for smaller cities and            forfeiture of bank guarantees," a senior official in
  towns, but the move could spell problems for                 ministry of new & renewable energy said9.
  carriers not geared for small airports5.
                                                               Prior Forest Clearance to Delay Projects
Consumer Durables                                              Further, Complains Power Ministry: Power
                                                               ministry has asked environment ministry to withdraw
Centre Plans Rs 1 Lakh Crore Investment                        a recent directive that requires projects to secure
Subsidy for Electronics Sector: The government                 forest clearances before beginning other work. The
has proposed to give a Rs 1 lakh crore investment              power ministry has said this directive would delay
subsidy to the country's electronics industry over a           development of thermal and hydropower projects10.
period of next 10 years, with an aim to give a boost
to the sector. The push is expected to generate               Finance and Insurance
investment to the tune of Rs 4 lakh crore in the
                                                               Draft Microfinance Bill Gives RBI Total Control
sector and create 20 million jobs in this decade, Joint
                                                               and Puts Sector Under Strict Watch: The
Secretary in the Department of Information
                                                               government has proposed a regulatory framework for
Technology Ajay Kumar said6.
                                                               the microfinance industry that provides protection to




                                                          3
 the consumer makes the Reserve Bank of India the            include expansion and M&As, be cut to 49%, while the
 sole regulator and puts industry under a strict             ceiling for Greenfield ventures be retained at 100%15.
 watch. The draft Micro Finance Bill 2011 gives
 sweeping power to the RBI by bringing all aspect           IT/ITES
 of microfinance under its oversight11.
                                                             US ready to address India’s concerns on visa fee
                                                             issue: The US is ready to address Indian government’s
 IRDA Releases M&Guidelines for General
                                                             concerns on a host of trade and business issues,
 Insurance Firms: The Insurance Regulatory and
                                                             including the H1B visa fee hike and social security
 Development Authority (IRDA) released
                                                             equalization, a top official said16.
 regulatory guidelines for mergers and acquisitions
 (M&As) for non-life insurance companies.
                                                             Environment Ministry's Nod Must to Import 2nd
 Insurance companies looking for mergers would
                                                             Hand Computers: Concerned over dumping of e-
 now have to take the approval of the relevant high
                                                             waste like used computers in the country, the Revenue
 court or tribunal before securing the final nod from
                                                             Department has asked customs officials to ensure
 the insurance regulator. The solvency margin of
                                                             that no such goods are imported without a nod from
 the merged entity would also have to meet
                                                             the Environment Ministry. The direction comes after
 regulatory requirements12.
                                                             the Central Board of Excise and Customs (CBEC)
                                                             assumed significance in wake of reports that e-wastes
FMCG and Retail
                                                             such as used computers, cathode ray tube, random
 Government assures support to toy industry                  access memory and electrical and electronic
 to compete with China: Amidst "dumping" of                  assemblies are being dumped in a big way into the
 consumer products by China, MSME Minister                   country thereby posing serious threat to
 Virbhadra Singh assured all support to the Rs               environment17.
 6,000 crore Indian toy industry to compete with
 the neighbouring nation. "The ministry is ready to         Media and Entertainment
 render any support to the industry by providing
                                                             Cabinet Approves FM Phase-III Auctions: The
 easy credit, marketing assistance like bar coding
                                                             government set the ball rolling on the third phase of
 and ISO certification," Singh said13.
                                                             expansion of FM Radio service that will allow private
                                                             radio channels to broadcast unedited news feed from
 High Level Govt Group Recommends                            All India Radio and extend its reach to another 227
 Opening Multi-Brand Retail: A high level inter-             cities18.
 ministerial group has recommended opening up of
 multi-brand retail sector to foreign direct                Telecom
 investment at the earliest to check price rise. But,
 the panel appointed by the Prime Minister and               DoT Mulls Exit Route for Telecom Companies: An
 headed by chief economic advisor Kaushik Basu               internal committee of the department of
 has suggested allowing FDI in a properly regulated          telecommunication has suggested that the Telecom
 fashion14.                                                  Regulatory Authority of India (TRAI) be asked to
                                                             recommend an exit route policy for the telecom
Healthcare and Biotech                                       licensees who wish to surrender their licences and the
                                                             spectrum19.
 Planning Commission Deputy Chairman
 Montek Singh Ahluwalia Endorses 100% FDI                    Telecom Ministry to Refer Major Policy Decisions
 in Pharma: Planning Commission deputy                       to Cabinet: The telecom ministry is likely to refer
 chairman Montek Singh Ahluwalia endorsed                    major policy changes in the sector, including pricing of
 allowing 100% foreign direct investment (FDI) in            excess spectrum and delinking of spectrum from
 the pharmaceutical sector. Earlier an inter-                licence as recommended by the sectoral regulator, to
 ministerial panel had recommended that the FDI              the Cabinet for a final decision20.
 cap for Brownfield pharma projects, which would


                                                        4
Bureaucratic Movements




Below are some the key appointments in the                 Transport and Highways. He has also served as the
bureaucracy that may have a long lasting impact on         Director General of Foreign Trade (DGFT) in the
investment climate of the country:                         Ministry of Commerce and Industry22.

 Shashikant Sharma to Be the New Defence                   Ranjan Mathai is New Foreign Secretary: India’s
 Secretary: Shashikant Sharma, currently a                 Ambassador to France Ranjan Mathai has been
 secretary in department of financial services, has        appointed Foreign Secretary. He will replace
 been appointed as defence secretary succeeding            Nirupama Rao, who retires by July end and is being
 Pradeep Kumar, who has been chosen to be the              posted as Ambassador to the U.S. A 1974 batch
 next Central Vigilance Commissioner. The                  officer of the Indian Foreign Service. Mathai has
 announcement was made after the Appointments              served in Europe, the U.S. and the Middle East,
 Committee of the Cabinet cleared Sharma's name            besides a spell in Sri Lanka. He has been posted at
 for the post. Sharma, A 1976 batch Bihar cadre IAS        the headquarters for about seven years where he
 officer, has earlier served as the DG (Acquisition)       had two stints in Bangladesh, Myanmar and Sri Lanka
 in the defence ministry and will take up his new          division and a brief stint at the National Defence
 assignment on July 3121.                                  College23.

 R S Gujral Appointed Revenue Secretary: R S               Ex-Defence Secretary Pradeep Kumar Sworn-
 Gujral, a 1976 batch IAS officer of Haryana cadre,        In as New Chief Vigilance Commissioner:
 has been appointed as revenue secretary from July         Former Defence Secretary Pradeep Kumar was
 1, succeeding Sunil Mitra who retires on the 30th         sworn-in by President Pratibha Patil as the new
 of this month. Mitra also holds the charge of             Central Vigilance Commissioner (CVC) replacing P J
 finance secretary in the Ministry of Finance. The         Thomas whose appointment was struck down by the
 new finance secretary is yet to be named. Gujral is       Supreme Court in March.
 currently secretary in the Ministry of Road




                                                       5
Sector Spotlight




The sections below highlight key developments and             Harison motors introduces all terrain vehicles in
trends witnessed in key sectors during June and               Pune: Harison motors, an Indo-overseas techno
July 10:                                                      venture has launched four models of All Terrain
                                                              Vehicles (ATVs) ranging from 50 cc to 200 cc, in Pune.
Automobiles                                                   Positioned under the FUNTY brand, the ATVs are into
                                                              four variants viz Junior (50cc), Striker (110 cc), Fighter
Two-Wheeler Makers Ride High in June:                         (150 cc) and Terminator (200 cc).
Demand for two-wheelers from the stable of six of
the eight domestic motor bike manufacturers rose 16           Fiat Mulls Launching New Model in India Under
per cent in June to over 880,000 units, compared to           CBU Route: Italian car maker Fiat said it is evaluating
761,000 units in June 2010. Analysts said the recent          options to introduce a new model in India through the
rise in petrol prices have propelled buyers to move to        completely built unit route and is also firming up plans
fuel-efficient two-wheelers24.                                for a small car that is likely to hit the market next
                                                              year27.

                                                              Munjals Map Out Strategy to Take Hero to Latin
                                                              America, Africa & South-East Asia: Hero
                                                              Motor has finalised an export strategy focusing on
                                                              markets such as Latin America, Africa and South-East
                                                              Asia, taking its first step towards emerging as a global
                                                              player after the recent split with its 26-year old
                                                              Japanese partner Honda. It is making changes in its
                                                              existing products to suit the needs of these fast-
                                                              growing overseas markets, apart from identifying home
                                                              -grown talent to drive export growth28.

                                                              Fiat's new schemes to promote diesel cars: In a
                                                              bid to boost its diesel car sales, Italian automobile
Peugeot plans to set up unit in Tamil Nadu:                   major Fiat has started to offer the diesel-powered
French car maker PSA Peugeot Citroen has selected a           Punto and Linea cars at the same price as petrol-
site near Sriperumbudur, to the west of Chennai, in           powered vehicles. Customers exchanging their old cars
Tamil Nadu for putting up its car plant. The company          to upgrade to a Linea or Punto get an additional
plans to invest Rs 4,000 crore in an integrated               exchange bonus of up to Rs.20,00029.
automobile project. The company plans to set up a
plant with an initial capacity of three lakh car a year       Bugattis, Porsches, Rolls Royces, Bentleys, Aston
through a fully-owned subsidiary25.                           Martin Salesmen Sniff Business Opportunity:
                                                              There are approximately 15 dealers spread around
Toyota's Small Car Liva Launched: Toyota                      metros such as Delhi and Mumbai who sell marquees
launched its first made-for-India small car, the Etios        such as Bugattis, Lamborghinis, Porsche , Rolls Royces,
Liva, in the intensely competitive hatchback segment.         Bentleys, Ferraris and Aston Martins to India's rising
The car, which is priced between Rs 399,000 and Rs            breed of wealthy consumers through a little fewer than
599,000 (ex-showroom, Delhi), will take on the likes          30 outlets across the country. What's notable about
of Maruti Suzuki Swift, Hyundai i20, Volkswagen Polo          this new tribe of upscale dealers is that they are not
and Ford Figo. Apart from Ford Figo, which starts at          appointed by the manufacturers. They've made their
Rs 359,000, Liva is the cheapest car in the category.         own investments and are willing to be more patient
It has best-in-class fuel efficiency of 18.31 km per          than the carmakers themselves who perhaps believe
litre. The average mileage offered by other cars in           that India is still not ready for their top-of-the-line
this segment varies between 15 kmpl and 17.7 kmpl             brands-at least not at the volumes they would need to
for the petrol variants. Liva, however, does not have         be viable30.
a diesel fuel option26.

                                                          6
June Car Sales Skid on Inflation Woes, Higher                 launching small cars , pitting itself against established
Rates & Fuel Costs: Market leader Maruti Suzuki               players such as Maruti Suzuki and Hyundai in a market
reported its first drop in sales in more than two-and-        which is showing signs of slowdown fuelled by rising
a-half years in June as spiralling interest rates, fuel       fuel prices and interest rates38.
costs and food prices slowed down the Indian car
market drastically after two years of exceptional             Rising fuel prices increase demand for fuel
growth. Car sales in June are expected to have                efficient and lower running cost CNG cars:
grown just 3-4%-the lowest in two years-after two of          Working their strategies around shifting consumer
the top three carmakers reported a fall in sales as           behaviour in urban areas, several carmakers have now
several prospective buyers postponed their car                loaded CNG technology into their popular models such
purchases31. Skoda Auto India reported a 69 per cent          as Hyundai Accent, GM Aveo , Toyota Innova and
increase in sales to 2,611 units in June this year, as        Corolla, Tata Indica and Indigo in order to tap the
against 1,639 units in the same month last year32.            growing demand for the cleanest and cheapest fuel,
Auto-maker Mahindra & Mahindra reported 29.11                 which is now available only in Delhi, Mumbai, Agra and
per cent jump in its total sales in June, 2011 at             Gujarat39.
35,584 units33. Tata Motors reported a marginal
0.70 per cent decline in total sales during June,             India's Used Luxury Car Segment Poised for
2011, to 66,358 units from 66,824 units in the same           Strong Growth: Today, cities like Mumbai and Delhi
month of 201034. Volkswagen India reported 166 per            constitute 40-45% of luxury car sales in India. But with
cent increase in sales during June at 5,397 units as          increasing incomes in tier II and tier III cities, Mercedes
against 2,032 units in the same month last year35.            foresees a surge in demand for luxury cars from these
Maruti Suzuki reported 8.8% decline in total sales in         cities. Perfect Pitch As sales of brand new luxury cars
the month of June compared to figures of same                 increase across the country, auto industry experts
month last year which is lowest since July 2009               expect the used car market to grow by leaps and
sales36.                                                      bounds in a few years. There are an estimated 35,000
                                                              Mercs on Indian roads today, since the company began
Companies                  Jun-11        Jun-10               sales in India in 1994. BMW has sold nearly 17,700 cars
Maruti Suzuki                 70,020         72812            in India since 2007 and Audi 7,050 in 2009-1140.
Hyundai                       30,402         27366
Tata Motors                   21,993         27811            Honda to revamp 'City' sedan in a bid to revive
Toyota                        12,034          6180            its fortunes: Honda plans to revamp its City sedan
                                                              within days of slashing its flagship car's price by up to
Volkswagen                     5,397          2032
                                                              66,000 to revive it sagging fortunes. The refreshed car
Honda Siel Cars                3,455          4595            is likely to have top-notch optional features such as
Mahindra & Mahindra           16,053         13316            sunroof, new multimedia and infotainment additions
Fiat                           1,506          2137            like Bluetooth and iPod connectivity and a new colour
Mercedez Benz                   566            387            combination41.
Skoda Auto                     2,611          1639
                                                              Renault to take on Maruti Swift, Volkswagen
Nissan                         1,632            77            Polo; to launch hatchback during Auto Expo
                                                              2012: French carmaker Renault will launch a new
Peugeot to set up Rs 4,000-cr plant in Tamil                  hatchback in India during the Auto Expo in January
Nadu: Tamil Nadu's status as one of India's biggest           2012 that will compete with Maruti Suzuki's Swift. The
auto hubs got a huge boost with French car maker              car is specifically designed for the Indian market by its
Peugeot Citroen deciding to invest Rs 4,000 crore in          design centre in Mumbai42.
a plant outside the capital city of Chennai37.
                                                              Toyota Likely to Roll out Luxury Lexus: Taking a
Toyota to Rev Up Market Share, Hire 2,000                     cue from the growth experienced by rivals like BMW,
People: Toyota will hire 2,000 people in India this           Mercedes and Audi , Toyota is planning to launch its
year as it revs up to bolster market share by                 luxury car Lexus in India. The Japanese auto major is

                                                          7
also looking to kick-start its car finance division,        Airlines Focus on Package Holiday Trips to Drive
Toyota Financial Services, to boost sales43.                Growth: Trying to cash in on the peak summer travel
                                                            season, an increasing number of Indian and
BMW India to Enter Used Car Business: Auto                  international airlines are transforming themselves into
major BMW India said it was considering to enter the        wholesome travel managers, providing hotel bookings,
used car business in October and also expand its            sight-seeing tours and even local conveyance, both
dealer network in the country. The company will             overseas and within the country49.
spread its network by appointing dealers in small
cities very soon, Andreas Schaaf, President of BMW          Air India Market Share Slips to Fifth Slot: The
India, said44.                                              month of May saw three airlines - Jet Airways,
                                                            Kingfisher and IndiGo - fly a record one million
Aviation                                                    passengers each, whereas national carrier Air India
                                                            slipped to the fifth position in terms of market share.
Cathay to Increase its Freighter Services in                Air traffic data for May, released by aviation regulator
India: Hong Kong based carrier Cathay Pacific will          Directorate General of Civil Aviation (DGCA), shows
add Indian city Bengaluru to its freighter route            that the six Indian airlines together have flown almost
network. The Bangalore services will target markets         25 million passengers, 17.6% more than the same
to Japan and North America with auto, textiles and          month last year.
pharma goods from India and expects the Northeast
Asian markets like China for electronic goods and           Jet Airways Introduces Mobile Ticketing: Offering
hardware45.                                                 flight ticket booking through mobile phones, Jet
                                                            Airways entered into a partnership with ngpay, giving
India's Commercial plane Market to Reach                    fliers a convenient option to seamlessly book tickets on
$150 Billion by 2030-Boeing: Boeing expects                 their mobile phones. This service will allow fliers to
India's commercial airplane market to reach USD 150         book, cancel and refund their eTickets and also
billion over the next 20 years driven by double digit       manage payment cards on their phones50.
growth and economic prosperity amongst a massive
Indian population. In its outlook for India's
commercial airplane market through 2030, Boeing
said India will need 1,320 new passenger airplanes
over the next 20 years46.

India's Domestic Travel Demand up by Around
14 & This Year: Domestic air traffic demand in
India grew by around 14 per cent with the airlines
enjoying an average load factor of almost 79 per
cent in May compared to last year, even as the
global traffic rose by 6.8 per cent47.

New Zealand Companies Eye Indian Aviation
Market: Enticed by a booming Indian economy and
a burgeoning aviation sector growing at 19%, a host         Consumer Durables
of New Zealand companies are keen to enter the
Indian aviation market or grow their presence.
                                                            Clarks Future Footwear to Open 100 Stores by
These include Air NZ Aviation Institute and CTC.            Next Year End: Clarks Future Footwear Ltd ., a 50:50
While CTC focuses on pilot training, Aviation
                                                            joint venture between Pantaloons Retail and UK-based
Institute, a subsidiary of Air New Zealand, provides        footwear company C&J Clark International, plans to
training for the full range of an airline's
                                                            open 100 stores in the country by the end of next
requirements48.                                             year51.


                                                        8
Philips to Overhaul Personal Care Business: On
the product front, the company is strengthening its
position in the male grooming category and women
hair care space. Philips has introduced an array of
shaving and other personal care products for men to
grab a larger share of the 1,500 crore domestic men
grooming market, which is growing at 15-18% every
year.

Indian Water Purifier Market Set for Hot
Competition: The estimated Rs 1,600 crore Indian
water purifier market is set for tough competition
with leading consumer durable firms, including
Godrej, Panasonic and LG gearing up to take on                Olympus Eyeing 10% Indian Digital Camera
incumbents such as Hindustan Unilever (HUL), Kent             Market in First Year: Olympus, the newest entrant in
RO, Tata Chemicals and Eureka Forbes52.                       the highly competitive digital imaging space, is
                                                              targeting to gain a 10% market share in the first year
Luvata Plans India Expansion in Food                          of its operations in India by selling 3 lakh units of digital
Refrigeration: Luvata is planning an expansion in             cameras55.
India to help meet rapid growth in the food
refrigeration market , the international copper               Defence and Aerospace
product maker said. The company expects a first
large production facility aimed at the domestic
                                                              Airbus Has Orders Worth $35 Billion From India:
market to be ready next year53.
                                                              European plane maker Airbus has orders worth $35
                                                              billion from India, a senior company executive said,
Shipment of Electronic Goods Soared in India
                                                              with recent record order wins in the fast-growing
in January-March Period: According to the latest
                                                              market accounting for more than half of the total
DisplaySearch quarterly India TV shipment and
                                                              orders56.
forecast database, the total TV market in India for
the first quarter was 3.7 million units, accounting for
                                                              IAF Plans Consortium of Domestic Companies
41.5% of the Asia-Pacific TV market. In Q1’11, the
                                                              For Rs10,000 Crore Contract: The Indian Air Force
most popular size range in India was 22-24”, with
                                                              (IAF) is trying to bring together a consortium of
41% share. This is more than the 35% held by 32”,
                                                              domestic firms to compete for a Rs 10,000 crore
the leading screen size in most regions. For CRT TVs
                                                              contract to manufacture 45 medium transport aircraft
in the India market, the leading size range is 14-21”,
                                                              (MTAs).If the consortium is formed, it will be the first
which is a very unique trend. There is strong
                                                              example of Indian companies partnering to bid for a
competition among the three major brands in the
                                                              defence aviation contract, a domain in which they do
Indian flat panel TV market, which have a combined
                                                              not have proven capability57.
share of around 60%. Sony continued to keep a top
unit share of 20.9% in Q1’11. Samsung maintained
                                                              Global Engine Makers Evince Interest in Civil
second place with a 19.3% share, followed by LGE at
                                                              Aircraft Project: Global engine makers have evinced
#3 with 18.4%. For 22-24” sizes, Videocon had the
                                                              keen interest to take part in India’s proposed Rs7,555
highest share among all brands due to their strong
                                                              crore national civil aircraft development (NCAD)
sales network54.
                                                              programme, expected to give a major boost to civil
                                                              aviation industry58.




                                                          9
India Hopes to Fly Indigenous 90-Seater                      Targeting India's booming middle class, Schneider
Aircraft in Five Years: India hopes to test fly its          Electric India, subsidiary of the Euro 19.58 billion
first indigenously-developed 90 seater regional              French energy management solutions provider, has
transport aircraft in the next five years. The 90-           entered the retail market. The Rs. 4500 crore
seater RTA will be developed as a team India                 Schneider Electric India has 31 factories in India with
initiative led by CSIR-National Aerospace Laboratory         exports adding another Rs. 2,000 crore64.
(NAL), which could also see some global
participation, CSIR Director General Samir                   BHEL Scouts Foreign Companies For Acquisition:
Brahmachari said59.                                          Keen to expand its overseas operations, especially in
                                                             African market, state-owned power equipment maker
Lockheed Martin to Re-Enter $11 Billion                      Bharat Heavy Electicals Ltd (BHEL)l is targeting to
Indian Deal with F-35 Stealth Fighter: India's               increase its revenue from exports to Rs 4,500 crore this
status as a cherry in the global defence & aerospace         fiscal and may pick up stake in ventures abroad65.
segment has been underlined again as Lockheed
Martin has been quoted as being hopeful of re-               Birla Surya To Invest Rs 5,400 Crore In Solar
entering the race for $11-billion deal60.                    Power Unit: Birla Surya Limited, a part of the Yash
                                                             Birla Group , plans to invest Rs 5,400 crore, over the
After F-16 Rejection, US Offers 5th Generation               next five years, to set up an integrated unit for
Jets to India: The US may be out of India's $10.4            fabrication of multi-crystalline silicon wafers and
billion MMRCA deal, the biggest in recent times, but         manufacturing solar photovoltaic cells66.
its firms are making a last-ditch attempt to at least
corner a slice of the pie. US defence major Raytheon         India set to produce 700 MW solar power in
announced here that it is willing to supply missiles         2011: India is on track to produce 700 megawatts of
and weapons systems which can be integrated into             solar power at a cost of $2.2 billion by December,
both Eurofighter Typhoon and Dassault Aviation's             ahead of an initial target for an ambitious plan that
Rafale, the two jets which have been shortlisted by          seeks to boost green power generation from near zero
India61.                                                     to 20 gig watts (GW) by 202267.

Energy
                                                             Konark Group Eyes $30-35 Million Private Equity
                                                             Investment in Power Arm: Konark Group plans to
Birla Surya to Invest Rs. 5,400 Crore in Solar
                                                             raise $30 million-$35 million through private equity
Power Unit : Birla Surya Limited, a part of the Yash
                                                             placement in its power projects business. The Mumbai-
Birla Group, plans to invest Rs 5,400 crore, over the
                                                             headquartered group's listed company Konark
next five years, to set up an integrated unit for
                                                             Synthetics has set up a subsidiary, Konark Infratech,
fabrication of multi-crystalline silicon wafers and
                                                             for foray into power sector. It plans to invest Rs 1,000
manufacturing solar photovoltaic cells. The company
                                                             crore to set up 155 megawatts of solar and wind
would invest Rs 1,493 crore in the first phase that
                                                             capacity by 201568.
would entail setting up of a manufacturing unit with
60 megawatt capacity for multi crystalline silicon
wafers and a fabrication unit of capacity 125 mw 62.         ONGC Set to Start Production from KG Basin by
                                                             July End: : State-run Oil and Natural Gas Corporation
NTPC to Set Up 100 Mw Wind Power Project                     (ONGC) is all set to start production of natural gas and
in Karnataka with an Investment of Rs 600                    oil from its offshore blocks , G1 and GS15, in the KG
Crore: The National Thermal Power Corporation                basin by end of July. While, the G1 is located 28 kms
(NTPC) plans to set up a 100 MW wind power project           off Amalapuram coast in water depths ranging from
in Bagalkot district of Karnataka with an estimated          135 to 500 meters, the GS 15, in shallow waters, is
investment of Rs 600 crore63.                                located at 5 kms from the coast in KG Basin69.

Schneider Electric India Looks for Growth in                 Hydrocarbon Chain Needs $600 Billion
Energy and Performance Management Sectors:                   Investment by 2030-Assocham: India would need

                                                        10
investments of about USD 600 billion across various           SBI Hikes Deposit Rates By up to 1%, Home
segments of hydrocarbon chain in next two decades,            Loan EMIs to Go Up: Country's largest lender State
the industry chamber Assocham said70.                         Bank of India increased lending rates by 25 basis
                                                              points and raised deposit rates by up to 100 basis
Petronet LNG eyes US suppliers for liquefied                  points, a move that will make home, auto and other
natural gas- CEO: India's Petronet LNG is talking to          loans more expensive, but will provide better returns to
US companies including Cheniere Energy for liquefied          savers75.
natural gas (LNG) supplies, Chief Executive AK
Balyan said. He added that a new LNG terminal,                US Health Insurance Major Cigna Corporation
planned for the east coast of India, would have               Plans to Form JV with Indian Company: American
capacity of up to five million tonnes a year71.               health insurance major Cigna Corporation plans to form
                                                              a joint venture with an Indian company in the next
ONGC to Invest $7.7 Billion in KG Basin: Oil and              three months to foray into the country's fast-growing
Natural Gas Corporation (ONGC) plans to invest $7.7           health insurance sector, David M Cordani , president
billion to develop its gas field in the KG Basin,             and CEO of the firm76.
adjoining Reliance's prolific D-6 block, and produce
up to 30 million cubic meters a day in five years. It         NetAmbit to Expand its Presence in 25 Cities in
plans to drill eight additional wells in the block to         Eastern States: Financial services distribution
maximize output from the deep-sea field in the Bay            company NetAmbit plans to build marketing centres in
of Bengal and has sought approval for the plan from           25 eastern cities to ramp up its presence in this region.
the directorate general of hydrocarbons and the               It also plans to hire 500 people this year. At present,
petroleum ministry72.                                         NetAmbit operates in 154 locations and distribute
                                                              products like life and general insurance, pension plans,
Finance and Insurance                                         mutual funds and systematic investment plans77.

Hit by slow credit off take and thin margins,                 PE, VC Investments to Touch $75 Billion by
banks will outsource 50% ATMs by 2015:                        2015: Private Equity and Venture Capital investments,
Nearly half the number of automated teller machines           which are major contributors in development of several
(ATM) in India will be outsourced by 2015 as                  sectors in the country, are likely to touch $70-75 billion
speedier deployment, better efficiency and                    till 2015, leading audit and advisory firm Grant
opportunity to cut cost make the option increasingly          Thornton said78.
attractive to banks hit by slow credit off take and
compressed margins. According to industry                     DBS applies to open four more branches in
estimates, in the next 4-5 years, about 50% of the            India: Singapore's DBS Bank has applied to open four
ATMs will outsource services such as site                     more branches in India as part of its ongoing
identification, deployment, installation, ownership           expansion plans in the South Asian market. DBS
and management to independent vendors. Banks,                 operates 40 ATMs in 12 Indian cities as of June,
which hold the ATM licence , will be only responsible         201179.
for the cash and its clearing and settlement73.
                                                              Standard Chartered PE Buys 12% in Redington
YES Bank bets big on education infrastructure                 India for $98 Million: The private equity arm of
space, to build Rs 4,000-5,000-cr sectoral loan               Standard Chartered has bought 12 percent of
portfolio: Private sector YES Bank sees an                    Redington India from a promoter and a strategic
opportunity in the country's education infrastructure         investor for about $98 million, the supply chain
space and plans to build a Rs 4,000-5,000-crore               management company's managing director said. A
sectoral loan portfolio over the next four years. With        promoter and Taiwan-based Synnex Technology
the country now acknowledging education as a                  International Corp , a strategic investor in the firm,
fundamental right for all children between the age            have cut their stake in Redington80.
group of 6 and 14, investment requirement for
education infrastructure grew manifold74.

                                                         11
PayMate, Mahaventures Team Up to Unveil                      account for just about . 500 crore of the 4,500-crore
Mobile Cashless Purchase Management                          skin-care market in the country-the segment is set for
Solution: PayMate, a leading mobile payment                  explosive growth. According to global market research
solutions provider unveiled the country's maiden             firm RNCOS, male cosmetics market in India will grow
mobile, cashless purchase management service,                at an annual rate of 20% during 2010 to 2014 as men
christened WAYPAY, for fleet operators. The mobile           become more beauty conscious86.
payment solution has been developed in collaboration
with noted fleet management solutions provider,              Japan's Unicharm Enters Indian Sanitary Napkin
Mahaventures81.                                              Market: Japanese FMCG firm Unicharm announced its
                                                             entry into the Indian feminine care market, which is
IndusInd Bank to Add 400 Branches by March                   currently dominated by multinational giants like Procter
2014: Private sector IndusInd Bank plans to open             & Gamble and Johnson & Johnson . The company,
about 400 branches over a period of three years to           which recently launched its global sanitary napkin
expand its presence in the country. "We currently            brand 'Sofy', said it aims to capture around 10 per cent
have 310 branches and plan to take the network to            of the market in the next three years87.
700 by March 2014. The bank would be adding over
100 branches during the current fiscal82.                    Emami to Enter Neutraceutical Market, Expand
                                                             Pharmacy Chain: Kolkata-based FMCG firm Emami is
ICICI Bank Plans to Open 1,500 Branches in 4                 gearing up for a major expansion in the healthcare
Years: In a major expansion drive, ICICI Bank plans          products category with plans to enter neutraceutical
to add about 1,500 branches over a period of four            business besides expanding its pharmacy chain in the
years against the existing strength of about 2,50083.        rest of the country. The company is even looking for tie
                                                             -ups with foreign firms88.
Temasek Looks to Invest in 3-4 Indian Firms
This Fiscal: Temasek Holdings Pvt. Ltd, the                  Emami Starts Trial to Make a Foray into Food
investment arm of the Singapore government, is               and Beverage with Glucose-Based Drink: FMCG
eying investments in three or four Indian companies          major Emami Ltd is making an entry into the food and
this fiscal, said Manish Kejriwal, senior managing           beverage segment by testing waters with a glucose-
director, Temasek Holdings Advisors India Pvt. Ltd84.        based drink this year. It has started trial marketing of
                                                             its glucose drink under the 'Zandu Glucose Charge'
Aureos Invests $10 Million in Indian                         brand in the East89.
Healthcare Group BSR Super Speciality
Hospitals: Aureos Capital, private equity fund               Amway Targets Turnover of Rs 2,500 Crore in
management with a focus on emerging markets, has             2012: Direct selling FMCG company is targeting a
invested $10 million in a leading Indian healthcare          turnover of Rs 2,500 crore next year and is also
group BSR Super Speciality Hospitals. Sev                    planning to set up its own manufacturing facility in
Vettivetpillai, The group has completed USD 10               India. Amway India registered a turnover of Rs 1,790
million investment in Central India-based hospital           crore in the 2010 financial year (Jan-Dec) and currently
chain85.                                                     has a seven contract manufacturing facility in Baadi,
                                                             Himachal Pradesh90.
FMCG and Retail
                                                             Philips to Expand Retail Reach of Avent,
Emami, Gillette, Hindustan Unilever, P&G Gain                Intensify Campaign: Dutch consumer electronics
as Urban Men Turn Beauty Conscious: All the                  firm Philips will enhance the presence of its 'Avent'
top personal care product makers, including                  brand of baby-feeding products in India as a part of its
Hindustan Unilever, L'Oreal , Procter & Gamble ,         plan to tap the growing Rs 2,800 crore mother and
Nivea, Emami and ITC, are launching more and more            baby care market in the country91.
specialised products to capture this opportunity.
While the base is still low--men's skin-care products        Future Group to Open 25-30 Big Bazaar Outlets


                                                        12
by June 2012: The Kishore Biyani-promoted Future               Healthcare & Biotech
Group, which runs India's largest retail chain in both
value and lifestyle formats, plans to open 25-30 Big           Opto Circuits Enters Japanese Market Through
Bazaar outlets by June 2012, and will invest Rs 300-           Omron Healthcare: Cardaic Science, a company
crore for the same92.                                          owned by Opto Circuit, has entered a distribution
                                                               agreement with patient monitoring device maker
Next Retail Targets 65 % Growth at Rs 2,500                    Omron Healthcare . Through the deal the companies
Crore Sales in Fy12: Electronics, appliances and IT            would provide automated external defibrillator (AED)
products retail division of Videocon Industries , Next         that is used for heart patients and the first sales are
Retail India is aiming for over 65 per cent jump in            expected in August96.
sales this to touch Rs 2,500 crore. The retail chain
that currently operates 609 Next stores is also aiming         Fortis Plans to Set up 25 Low-Cost Hospitals:
to take the total number to 1,000 across India by the          Super specialty hospital chain operator Fortis
end of 2011-1293.                                              Healthcare plans to launch low-cost hospitals in smaller
                                                               towns under a new brand and has set a target of 25
Online Retail industry to Reach Rs 7,000 Crore                 hospitals in three years. The new hospitals will provide
by 2015- Assocham: The market size of online                   healthcare services at affordable rates in semi urban
retail industry in India is likely to touch Rs 7,000           India specifically tier-II & -III towns97.
crore by 2015 due to increasing internet penetration
across the country. Currently, the online retail market        Max to buy out Warburg from healthcare
stands at Rs 2,000 crore and is growing at an annual           institute for Rs 140 Crore: Diversified business
rate of 35 per cent, according to a survey conducted           group Max India will buy private equity firm Warburg
by industry chamber Assocham .                                 Pincus group's entire 16.37 per cent in Max Healthcare
                                                               Institute Ltd for Rs 140 crore. The acquisition of shares
Plantronics to Strengthen Retail Presence in                   is expected to be completed by December 15, 2011
India: US-based communication headsets maker                   after receipt of all regulatory approvals98.
Plantronics plans to more than double its sales point
to 10,000 in India by December next year. The                  Dr Reddy’s Launches Hypertension Capsules in
company has a dealer network of close to 4,000 in              the US: Drug firm Dr Reddy’s Laboratories has
the country currently. It is also selling its products         launched Amlodipine Besylate and Benazepril
through large format retail chains such as Reliance,           Hydrochloride capsules, used in treating high blood
Croma and Mobile Store94.                                      pressure, in the US market following approval from the
                                                               US Food and Drug Administration (USFDA)99.
Modern Retail Outgrowing Kirana Stores in
India- Nielsen Study: Arrival of big retailers has             Vaatsalya Healthcare Raises $10 Million in Third
had an impact on small grocers, but neighbourhood              Round of PE Funding: Vaatsalya Healthcare , which
stores are still growing their sales, although at a            provides affordable healthcare in semi-urban and rural
much lower rate than modern trade, according to                India, has raised a third round of funding to extend its
data from market research firm The Nielsen                     network of low-cost hospitals across the country. The
Company . Since 2006, when most big retailers                  six-year-old firm has raised $10 million from Singapore-
either entered the retail space or began expanding             based Aquarius India Fund and existing investor Seed
their network, sales in local kiranas have grown in            fund100.
the low single digits even less than the GDP growth
rate, while modern trade has grown in strong double            Lupin Gets USFDA Approval for Hypertension
digits, though at a much lower base. For instance,             Drug: Drug-maker Lupin has received approval from
sales at modern stores grew 34% in 2006 and 29.3%              the US health regulator to market Amlodipine
in 2010. Traditional stores could increase sales only          Benazepril capsules, used for the treatment of high
1.5% in 2006, but improved the growth rate to 6.2%             blood pressure, in the American market101.
last year95.


                                                          13
Wockhardt Receives USFDA Approval for                        Rising Orders, Better Outlook Make Sailing
Generic Eye Drops: Drug maker Wockhardt has                  Sustainable for ABG Shipyard: ABG Shipyard, the
received tentative approval from the US health               country's largest private shipyard, has a healthy order
regulator to market Olopatadine hydrochloride eye            book of Rs 15,000 crore which is nearly seven times
drops in the American market. The company has                the FY11 revenues of Rs 2,136 crore. This includes an
received approval from the US Food and Drug                  order recently received from the Indian Navy to build
Administration (USFDA) to market 0.1 per cent                two naval cadet-training ships worth Rs 970 crore107.
solution of Olopatadine hydrochloride eye drops,
used in treating allergic conjunctivitis102.                 Shipping Ministry to Award Projects Worth Rs
                                                             13,000 Crore Under PPP Mode: The shipping
Bio-Pharma R&D Spend Seen at $25 Billion:                    ministry plans to award seven projects, worth Rs
India's bio-pharma sector may see a surge in R&D             13,000 crore, under the public-private partnership
spending to about $ 25 billion in the next 15 years,         mode in the next three months, as it rushes to kick-
according to a Boston Consulting Group report that           start capacity addition at ports in the current fiscal.
said favourable policies need to be implemented to           Four of them were to be awarded in the first quarter
attract investment and enhance innovation in the             but were held up for want of security and
field. The total amount that is currently being spent        environmental clearances. For FY12, the government
on innovative discovery programmes and                       aims to award 23 PPP projects worth Rs 16,700 crore in
development in the bio-pharma sector in India is             2011-12 , adding 230 mt to India's yearly cargo
about $ 2 billion103.                                        handling capacity of 1 billion tonnes108.

Bausch & Lomb Enters Pharmaceutical Market:                  India's Maritime Ambitions Go Global: India is
Eyecare firm Bausch & Lomb has entered into a drug           going global with its maritime ambitions . The
supply deal with Bangalore-based Micro Labs,                 government is setting up Indian Ports Global - a
marking its entry into the country’s pharmaceuticals         dedicated company like Dubai Port International and
market104.                                                   Singapore's PSA International - that will invest and
                                                             acquire stakes in overseas ports and container
Strong Sales Push Sees Rural Pharma Growth                   terminals109.
Doubling: Pharma companies have seen growth
rate of their rural market sales doubling on the back        Finance Ministry Approves 6 Road Proposals
of aggressive marketing initiatives. For the 12              Worth Rs 9,774 Crore: The finance ministry has
months period ended April 2011, India's rural drug           approved six road proposals at an estimated cost of Rs
market grew 18.8% compared with 10.9% in the                 9773.85 crore under public-private partnership (PPP).
previous year. This is a sharp jump from the growth          The Public Private Partnership Approval Committee
rate in the same period of 2009, when the rural              (PPPAC), chaired by Economic Affairs Secretary R
market had actually shrunk by 2.1%105.                       Gopalan, had granted approval to the six proposals of
                                                             the ministry of road transport and highways spread
Infrastructure                                               across five states110.

Jindal Steel and Power Ltd plans $250-Million                PSL to Invest up to Rs 500 Crore in Port
Railway Linkage to Connect El Mutun Mining                   Construction: Steel pipe maker PSL, which recently
Project to Bolivian Railway Network: Jindal                  got one of the largest gas pipeline contracts, is
Steel and Power Ltd (JSPL) has drawn up plans for a          exploring options of entering port construction
critical $250-million (about Rs. 1,125 crore) railway        business. The Ashok Punj-managed company is ready
linkage to connect its $2.1-billion El Mutun mining          to invest up to Rs 500 crore in building a jetty at
project to the Bolivian railway network and a                Kandla Port in Gujarat, through the public-private
proposed port106.                                            participation route111.




                                                        14
Phoenix Group to Invest Rs 2,000 Cr in Six                   grew just 4.2 per cent to $2.1 billion, it said in a
Realty Projects: Infrastructure company Phoenix              statement116.
Group announced plans to invest Rs 2,000 crore in
six real estate ventures in Hyderabad, including Rs          HTC Tablet to Cost Rs 39,890 : Taiwanese handset
350 crore in Golf Edge, a mixed use project, which           maker HTC has entered the "tablet" war in India with
will have a five-star hotel and high-end residential         the launch of its "Flyer" in the country, priced at Rs
apartments. Every real estate venture underway will          39,890. A tablet PC, though smaller in size, has PC-like
have commercial retail space and a hotel as well112.         functionalities117.

Italian Furnisher Natuzzi to Partner Local                   Domestic IT-BPO Services, Products Market Set
Realty Developers: Italian furniture maker Natuzzi           for 17% Growth by 2012: The country's domestic
Group is planning to tie up with real-estate                 IT-ITES services and tech products markets are
developers in India. The company is hopeful of               expected to swell to Rs 1,71,697 crore in 2012 – about
capitalising on the demand for pre-furnished mid-            17.4 per cent higher than 2011. According to latest
and premium-segment apartments or condo-villas               projections by research and advisory firm CyberMedia
worth over Rs 60 lakh to push up its sales in the            Research, the aggregate market size of domestic IT
country. The €570-million NYSE-listed company that           services and IT products sector is likely to touch Rs
makes leather furniture entered India in November            2,33,930 crore by 2014, growing 17.3 per cent
2010113.                                                     between 2010 and 2014118.

IT/ITES                                                      Aptech to Expand Overseas Business: Learning
                                                             solutions company, Aptech Ltd has identified 100 cities
NIIT Tech gets 5-Year Order From Eurostar:                   in emerging markets for its overseas foray as it plans to
NIIT Technologies has bagged an infrastructure               shore up its international business from 35% of total
management services order from Eurostar, the high-           retail business to 50% by 2015, CEO and managing
speed passenger service between the UK and                   director Ninad Karpe said119.
mainland Europe. The revenue from the order will
kick in from the current quarter. The order involves         BM ranked as leader in domestic IT market : IBM
managing and monitoring Eurostar's entire IT                 India led the domestic Indian software market in 2010
infrastructure including desktops, servers and the           with a 31.4% share in the industry's revenues last year,
network114.                                                  according to research firm Gartner Inc. Customers,
                                                             such as HDFC, SBI, Bharti Infratel and Indian Railways,
SaaS Expected to Grow by 20.7% This Year-                    contributed to IBM India's 55% market share in the
Gartner: Software as a service (SaaS) which has              application infrastructure and middleware (AIM)
gained significant buzz over the past year is                software segments120.
estimated to grow by 20.7% this year amounting
close to Rs 538 crores as compared to 2010 where it          PCs may become cheaper in India : Computers in
was close to Rs 445 crores according to IT advisory          India may become cheaper as a result of a row
firm Gartner. SaaS refers to software that is owned,         between global chip manufacturers, such as Intel and
managed and delivered by a provider from a remote            AMD, over standards. The world's second-largest PC
location. Customers pay for the service based on             chipmaker AMD says processors in India are likely to
their usage115.                                              become cheaper by 5% due to its exit from the global
                                                             chip benchmark body. AMD declined to support the
India Enterprise Software market Grew to $2.5                newly-launched chip standard Sysmark 2012 and quit
B in 2010: Gartner : The Indian enterprise                   the benchmark body, Business Applications
software market showed broad growth and recovery             Performance Corporation (Bapco) benchmark121.
in 2010, with total software revenue increasing 16.3
per cent to total $2.5 billion, according to research        AMD Launches New Processors Telecom: AMD is
firm Gartner. In 2009, enterprise software revenue           launching new processors aimed at mainstream PCs


                                                        15
and challenging rivals Intel and Nvidia. AMDs llano              Varia Engineering Works to Install India’s First 6
chips are part of its fusion family, which include both          -Stand Rolling Mill: India's first 6-stand continuous
central and graphics processors122.                              cold rolling mill for stainless steel that promises a ten-
                                                                 fold increase in production will be set in Ahmedabad in
Wipro Launches Cloud Portal for Clinical Trials:                 Western India. Varia Engineering Works, an
Wipro Technologies has launched Wipro Clinical                   Ahmedabad-based rolling mills manufacturing
Collaboration Portal, a secure cloud-based                       company, expects its stainless steel manufacturing
productized solution. The service is aimed at helping            capacity to rise up to 2 lakh tonne from the present
drug development owners (DDOs), clinical research                18,000 tonne per annum, once the new mills becomes
organisations (CROs) and regulators to improve                   operational127.
collaboration for multi-region clinical trials. Wipro
said that this will reduce the clinical trial cycle time         Glass-Makers Line up Rs 7,000-Crore
by 20-30 per cent by speeding communication and                  Investment Over Next 2-3 Years: Anticipating a
document exchanges between CROs, regulators and                  surge in domestic demand, Indian glass manufacturers
DDOs123.                                                         are ramping up their capacities and infusing new
                                                                 technologies, having lined up a cumulative investment
Manufacturing                                                    of over Rs 7,000 crore for the next two to three years.
                                                                 In the last three years, the industry has invested about
Government Plans to Set up Two Automotive                        half this amount for capacity-building owing to
Manufacturing Hubs in Central, East India: The                   relatively slower demand growth128.
government plans to set up two automotive
manufacturing hubs spread over 10,000 acres each                 Carlyle Invests $25 Million in Visen Industries:
in central and eastern India. The new hubs, aimed at             International asset manager, The Carlyle Group has
consolidating India's position as an important                   invested $25 million in emulsion manufacturer Visen
destination for low-cost automotive production, will             Industries through an affiliate, First Carlyle Ventures III
be in addition to the three existing zones - Haryana,            (FCV III). The funds will be used to expand Visen's
Maharashtra and Tamil Nadu. India's automotive                   manufacturing capacity in India and abroad129.
industry, estimated to have a turnover of $73 billion
at present, accounts for 6% of its GDP124.                       Media and Entertainment

SPS Group to Set Up 1.2 Mt/Year Pellet Plant;                    PVR Buys Out JP Morgan, India Advantage Fund
Floats New Steel Company: Kolkata-                               from Group Firm: PVR Ltd has bought out JP Morgan
headquartered SPS group is setting up 1.2 million                Mauritius Holdings and India Advantage Fund from a
tonnes per annum (mpta) pellet plant, a 1.7 mpta                 group firm, PVR Pictures for an undisclosed amount as
iron ore fines beneficiation unit, a 0.5 mpta coke               it looks to focus on cinema exhibition while going slow
oven and a 110 MW captive power plant at Mejia in                on production business. The company has acquired 40
Bankura district of West Bengal at a total cost of Rs            per stake held by JP Morgan Mauritius Holding and
2,000 crore125.                                                  ICICI Venture's India Advantage Fund in equal
                                                                 proportion130.
Michelin's India Plant Targets Tyre Roll Out by
Nov 2012: French tyre-maker Michelin's upcoming                  With High Demand for Indian Movies, Big
India plant in Chennai will roll out its first tyre in           Cinemas Goes Global: Feeding the strong demand
November 2012. The company plans to produce                      for Indian movies abroad, Reliance owned BIG Cinemas
three lakh radial truck tyres in the first year of               has become India's first cinema chain to make its
operations, and cater to the domestic market.                    presence felt around the world including the United
Michelin is setting up a manufacturing unit at                   States131.
Thervoy Khaidigia industrial area in Tiruvallur district,
near Chennai in South India, and would be investing              JMNIPL Acquires 5.74% Stake in Jagran
Rs 4,000 crore over a seven-year period126.                      Prakashan: Media firm Jagran Prakashan Ltd said its


                                                            16
group company Jagran Media Network Investment                MTS Expands Footprint to Eight More Locations
Pvt Ltd (JMNIPL) has acquired 5.74 per cent stake in         in Karnataka: Telecom brand MTS announced the
it, increasing total holding to 11.48 per cent 132.          expansion of its high speed mobile broadband service,
                                                             MBlaze, to eight more towns in Karnataka. The roll out
Telecom                                                      of the brand to the eight towns of Chitradurga, Hospet,
                                                             Bidar, Doddaballpur, Chikmagalur, Bagalkote, Karwar
Cisco Announces New TelePresence Products:                   and Sarjapur, now takes the Mblaze footprint to 35
Cisco has announced two new TelePresence                     towns across the state136.
products, the Cisco TelePresence MX200 and the
Cisco TelePresence Conductor, which it says are              Telcos add 13.35 Million mobile users in May-
designed to make it easier for organisations to              TRAI: Telecom operators added 13.35 million mobile
deploy videoconferencing. David Hsieh, Vice-                 subscribers in May 2011, taking the total number of
President Marketing - Emerging Technologies, Cisco,          telephone users in the country to 874.68 million,
said, that the MX200 could be installed by people            according to sectoral regulator Telecom Regulatory
with no technical expertise in around 15 minutes133.         Authority of India (TRAI). Data, mobile subscriber base
                                                             increased to 840.28 million at the end of May from
Bharti Airtel Revamps Operations: Bharti Airtel              826.93 million in April, registering a growth of
announced it was streamlining its India and South            1.61%137.
Asia operations to create a leaner cost structure in
order to boost its financial performance. The                Lava to Invest Rs 100 Crore in R&D This Year:
restructuring comes as Bharti battles fierce domestic        Mobile devices maker Lava plans to invest about Rs 100
competition that has slashed call rates and is               crore this year to ramp up its R&D capabilities as it
grappling with high interest costs on debt                   eyes a bigger share of the burgeoning Indian handset
accumulated to purchase mobile licences in India and         market138.
to expand into Africa134.
                                                             Airtel Launches International Video Calling for
MNP requests surge 24% to 105.70 lakh users                  3G Customers in India: Bharti Airtel launched
in May: Mobile Number Portability (MNP) requests             international video calling facility for its 3G customers
jumped nearly 24% in May to 105.70 lakh                      in India. This service will allow customers to leverage
subscribers, from 85.41 lakh in the preceding month,         Airtel internet on 3G for making international video
according to Telecom Regulatory Authority of India           calls, currently available for 227 international
(TRAI) data. The data reveals totally 105.70 lakh            countries139.
subscribers had submitted requests until May to
different service providers under MNP, a service that
allows people to change operators while retaining the
same number135.




                                                        17
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                                                                   129
news/29747795_1_saas-cloud-services-crm                               The Economic Times http://
116                                                                articles.economictimes.indiatimes.com/2011-06-24/
      ELCINA http://www.elcina.com/new.asp
                                                                   news/29699225_1_high-growth-companies-shankar-
117
      ELCINA http://www.elcina.com/new.asp                         narayanan-carlyle-group
118
   The Hindu Business Line http://                                 130
                                                                      The Economic Times http://economictimes.indiatimes.com/
www.thehindubusinessline.com/industry-and-economy/info             news/news-by-industry/media/entertainment-/entertainment/
-tech/article2104135.ece                                           pvr-buys-out-jp-morgan-india-advantage-fund-from-group-
119                                                                firm/articleshow/9114601.cms
   The Economic Times http://
articles.economictimes.indiatimes.com/2011-07-06/                  131
                                                                      The Economic Times http://economictimes.indiatimes.com/
news/29743522_1_aptech-ninad-karpe-global-career-                  news/news-by-industry/media/entertainment-/entertainment/
education                                                          with-high-demand-for-indian-movies-big-cinemas-goes-
120                                                                global/articleshow/8824096.cms
      ELCINA http://www.elcina.com/new.asp
                                                                   132
121                                                                   The Economic Times http://economictimes.indiatimes.com/
      ELCINA http://www.elcina.com/new.asp
                                                                   news/news-by-industry/media/entertainment-/media/jmnipl-
122
  MAIT http://www.mait.com/news_detail.php?                        acquires-574-stake-in-jagran-prakashan/
newsID=343                                                         articleshow/9126635.cms
123
   The Hindu Business Line http://                                 133
                                                                         MAIT http://www.mait.com/news_detail.php?newsID=342
www.thehindubusinessline.com/todays-paper/tp-info-tech/            134
                                                                     LiveMinthttp://www.livemint.com/2011/07/07201630/
article2113741.ece
                                                                   Bharti-Airtel-revamps-operatio.html
124
   The Economic Times http://                                      135
                                                                      LiveMint http://www.livemint.com/2011/07/07190101/MNP
articles.economictimes.indiatimes.com/2011-07-12/
                                                                   -requests-surge-24-to-105.html
news/29765563_1_hubs-automotive-industry-
manufacturing                                                      136
                                                                     LiveMint http://www.livemint.com/2011/07/04173432/MTS
125                                                                -expands-footprint-to-eight.html
   The Hindu Business Line http://
www.thehindubusinessline.com/companies/                            137
                                                                     The Economic Times http://economictimes.indiatimes.com/
article2208230.ece                                                 news/news-by-industry/telecom/telcos-add-1335-nm-mobile-
126                                                                users-in-may-trai/articleshow/9145522.cms
   The Economic Times http://
articles.economictimes.indiatimes.com/2011-07-06/                  138
                                                                      The Economic Times http://economictimes.indiatimes.com/
news/29743597_1_michelin-s-india-truck-and-bus-segment             news/news-by-industry/telecom/lava-to-invest-rs-100-cr-in-rd
-tyre                                                              -this-year/articleshow/9039240.cms
127
   The Economic Times http://                                      139
                                                                      The Economic Times http://economictimes.indiatimes.com/
articles.economictimes.indiatimes.com/2011-07-05/                  news/news-by-industry/telecom/airtel-launches-international-
news/29739096_1_stainless-steel-jindal-stainless-coils-and-        video-calling-for-3g-customers-in-india/
sheets                                                             articleshow/9016919.cms
128
   The Hindu Business Line http://
www.thehindubusinessline.com/companies/
article2148039.ece?homepage=true




                                                              23
Disclaimer: This report has been prepared, based on secondary data and information derived from published
sources as well as websites. While due care has been taken in preparing the report with public information obtained
from sources believed to be reliable, no representation or warranty as to its accuracy or its completeness is made.
This report does not claim to replace professional advice.




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