Investment In India | "Fidelity Growth Partners Announces Investment In XCyton Diagnostics"

BY: BHAWNA GUPTA
Source: http://www.vccircle.com
Category : Investment In India 

The Bangalore-based diagnostics company is also backed by Kiran Mazumdar Shaw in her personal capacity.

Fidelity Growth Partners India, the private equity arm of global asset management giant Fidelity, has announced that it has invested in Bangalore-based privately held medical diagnostics company XCyton Diagnostics Pvt Ltd.

Although the company did not disclose the deal value, VCCircle had first reported on Nov 28 that the deal involves investment of up to Rs 20 crore.

XCyton is a product development company, founded in 1993 by B.V. Ravi Kumar, a physician-scientist-turned-technocrat. Currently, it offers diagnostic services for sepsis, central nervous system infections like meningitis and acute encephalitic syndrome and trauma or surgery-induced eye infections.

The company’s syndrome evaluation system (SES) platform allows for simultaneous identification of up to 30 pathogens in a six-hour test cycle for critical infections, where the time span from diagnosis to severe disability and often death, is less than 72 hours.

“XCyton’s technology is a paradigm shift from all conventionally used tests including blood cultures that typically detect a single pathogen and take more than 48-72 hours to deliver results. Moreover, these tests have inadequate sensitivity. XCyton’s six-hour turnaround, coupled with simultaneous pathogen detection, serves an unmet need, not only in India but also globally,” said Ravi Kumar.

Birthstone Capital was the operating partner and sole financial advisor to XCyton for the transaction. Incidentally, Birthstone, a private equity firm that specialises in operational style of investing, is also an investor in the firm.

Kiran Mazumdar Shaw, chairman and managing director of Biocon Ltd (the country’s leading biotechnology enterprise), is also an investor in XCyton in her personal capacity.

In 2007, XCyton received funding from Amvar Ventures Pvt Ltd, a sister concern of Nadathur Holdings – an investment firm established by N.S. Raghavan, founder and former managing director of Indian IT giant Infosys.

“XCyton’s service offerings are well positioned to reduce the high mortality rates associated with several critical illnesses,” said Raj Dugar, senior managing director at FIL Capital Advisors (India).

Fidelity Growth Partners India seeks to invest anywhere between $10 million and $50 million across a broad range of sectors in India. The firm has also invested in Mind Shaper Tech and Transpole Logistics, among others.

Source: http://www.vccircle.com/500/news/fidelity-growth-partners-announces-investment-in-xcyton-diagnostics

Investment In India | "Lenovo looks at expansion"

By: BS Reporter / Chennai/ Hyderabad
Source: http://www.business-standard.com
November 04, 2011, 0:24 IST
Category : Investment In India

Chinese computer and electronic device-maker Lenovo is looking at expanding its manufacturing operations in India after it had shut down its second unit in Himachal Pradesh a couple of years ago citing decline in sales.

Currently, the company has a manufacturing unit in Puducherry. This came as part of the acquisition of IBMs global PC business by Lenovo in 2005.

Company officials recently met senior officials of the Andhra Pradesh government weighing the state as one of the options to locate an assembly line.

“The investment they have indicated is about $10 million for the proposed assembly line,” a state government official told Business Standard. If it chooses AP, then the unit would to be located in Sri City, the private multi-product SEZ cum industrial park, closer to Chennai, according to the official.

The company is expecting to increase Indian sales through the newly launched products such as Idea Pad among others.

Though the infrastructure and land is readily available in Sri City, any extra incentives from the government may not be available because only those upwards of Rs 200 crore investment are considered as mega projects for the purpose of offering tailor-made incentives by the state government.

The unit, otherwise, will have to provide direct employment to 2,000 people to be eligible for additional incentives, the official said.


Source: http://www.business-standard.com/india/news/lenovo-looks-at-expansion/454462/

India opens up to Walmart

By: Equity Master
Source: www.equitymaster.com


From the start of the winter session, the Indian parliament has been witnessing a complete logjam on account of various burning issues such as inflation and corruption. Amidst all this, the cabinet approved a new policy for Foreign Direct Investment (FDI) in retail.

What is this policy all about? Why is the government so keen to bring this policy now? On what grounds is it facing so much opposition, not only from the opposition party but also from its allies?

Well, the history of FDI in retail goes back to 1993 when the then finance minister had changed the law to permit FDI in retail trade. Since then, the policy witnessed several changes. At present, FDI in single-brand retail is allowed up to 51% with Government approval. However, FDI in multi-brand retail is totally restricted. In the new policy, approved by the cabinet, complete restriction on FDI in multi-brand retail was lifted. According to the new policy, foreign players can own a 51% stake in multi-brand retail. At the same time, the new policy allows 100% FDI in single-brand retail.

This move would certainly attract foreign retail giants such as Walmart, Carrefour and Tesco to invest in the Indian retail sector. After all, as a fast emerging economy, India presents a huge opportunity on account of its 1.2 bn population. As per estimation, Indian retail market is worth US$ 450 bn a year.

But the moot question remains why we need FDI in the retail sector. Who will gain from all this? It is no secret that India lack in terms of infrastructure and needs a good amount of investment to boost the utilisation of its existing resources. Development in infrastructure would enable the farmers to sell their agricultural produce directly to the big retailers, not to the local mundi. This is likely to fetch them better pricing for their produce. At the same time, due to abolishment of several intermediaries, retailers would be able to offer the products to the final consumers at lower prices. Hence, both farmers as well as consumers would be benefited. That is the key underlying rationale for FDI in retail. Another point is that this move would generate a good amount of employment across the country. It will help existing Indian retail companies to expand with the technical as well as financial support of foreign retail giants.

If all is well with this policy, then why so much hue and cry! Well, this is a definitely a bad news for smaller family-managed businesses (kirana shops). They will not be able to withstand the competition from the big players. They would be forced to shut down their shops. In turn, there would a loss of a large amount of employment opportunity as well. This policy would also hurt the micro, small and medium domestic industries. They fear that after some time, big retailers would start displacing the entire supply chains of the products. And, if not properly checked by the government, their businesses may get severely hurt. According to industry experts, to keep things in balance, the provision for 30% compulsory sourcing from Small and Medium Enterprises (SMEs) in the draft policy should also be gradually increased.

In the policy, the government has allowed FDI in multi-brand retail in cities only with population of 1 million, and for the rest of the country, the current policy regime will apply. Only 53 cities out of nearly 8,000 towns and cities in the country meet such a requirement. Hence, at present, it is not going to affect all kirana stores across the country.

The biggest threat of this policy may prop up in the long run. After the forced extinction of existing retail system to a large extent, big retail players may start abusing their dominant positions in the market. They may not offer good prices to the farmers and lower prices to the consumers, which are being advertised by the promoters of the new policy.

Policy makers have been debating this for more than 15 years. And all these concerns definitely demand a good discussion. However, considering all the reforms this new policy can bring, it would be unfair to oppose it just for the sake of opposing. With proper checks and balances, this policy may go a long way in the development of the Indian retail sector.


Source: http://www.equitymaster.com/tm/tm.asp?date=11/28/2011&title=India-opens-up-to-Walmart

News Roundup: Alexandria Real Estate Looks To Invest $1B In India

BY: TEAM VCC
Source: http://www.vccircle.com


Alexandria Real Estate Looks To Invest $1B In India - Alexandria Real Estate Equities is setting the stage for a $1-billion rollout in India. The US-based NYSE-listed multi-billion-dollar real estate investment trust (RIET) focuses on owing the real estate and related infrastructure for the healthcare sector, is understood to be in advanced stages of owning at least 15 multi-specialty hospital properties in India. Alexandria is in fairly advanced discussions with major healthcare players in India in an effort to either take over the real estate assets on which the hospitals stand or make significant inroads in putting up greenfield projects. (Business Standard)

Source: http://www.vccircle.com/500/news/news-roundup-alexandria-real-estate-looks-to-invest-1b-in-india

Kraft Foods bets big on India, says emerging mkts will drive growth

By: Reuters
Source: http://www.reuters.com

* Plans to become one of the top 5 food cos in India

* Have increased investment by over 70 pct in India post Cadbury India biz buyout

* To focus on biscuits, chocolates, gum, candy in India

MUMBAI, Nov 21 (Reuters) - Kraft Foods Inc, North America's largest packaged food maker, is betting big on the Indian consumer's rising spending power as it firms up plans to become one of the top 5 food companies in the country in the coming years, in an effort to offset sluggish growth in the developed markets.

The global buy of Cadbury has added popular brands such as Dairy Milk and Bournvita to Kraft's India portfolio helping it propel growth in the world's second fastest growing major economy.

It retails brands like Oreo biscuits and fruit flavoured drink Tang from its own portfolio in the Indian market.

"In India, in particular we have witnessed exceptional growth..Year-to-date we are up almost 40 percent in this country," Chairman and Chief Executive Irene Rosenfeld told reporters on Tuesday.

"The growth rates that we have seen have been well in excess of what Cadbury had been generating primarily because we have chosen to invest in a lot of critical areas such as sales, marketing..," Rosenfeld added.

The company, however, stated that the current growth rate might be difficult to sustain in the long-term.

Kraft Foods has increased its investment in India in the areas of advertising & promotion, sales, capex by over 70 percent since it acquired Cadbury India's operations, Rosenfeld added, without giving an absolute investment number for the year-ago period.

The consumer goods maker, which plans to focus on the biscuits, chocolates, gum and candy categories in India, competes with consumer giants such as Nestle and Hindustan Unilever among others.

The company which is heavily focusing on the emerging markets of India, Brazil, Russia, China and Indonesia has seen developing markets contributing 14 percent revenue growth and an operating income growth of 34 percent on a compounded annual rate for over the past couple of years.

Kraft Foods, which acquired Cadbury 21 months ago, for $18.5 billion, said it was open to acquisitions in emerging markets and stated that it does not immediately plan to get more of its international brands into India.

"Over time we will get more brands...But there is so much untapped opportunity for our base businesses, we will look to focus on that first," Rosenfeld said.

On the integration, post the Cadbury acquisition, Rosenfeld also said that the firm was on track also to achieve $750 million of cost savings from its integration with Cadbury and will achieve 70 percent of that by the end of 2011.

Recently, Kraft announced its plans to split its business and give its investors a chance to bet on a snacks business which is growing fast in emerging markets, or opt for stable dividends offered by a slower growing grocery business that includes Oscar Mayer lunch meat and Kraft cheese.

Earlier, this month is it posted a third quarter net revenue of $13.23 billion , up from $11.86 billion and raised its full year outlook.


Source: http://www.reuters.com/article/2011/11/22/kraft-foods-india-idUSL4E7ML24K20111122

Lenovo set to topple Dell as No. 1 in India

By: Thyagaraju Adinarayan
Source: http://articles.timesofindia.indiatimes.com


CHENNAI: The quadrangular battle - fought among the global brands Dell, HP, Acer and Lenovo -- in the Indian PC market is intensifying, as they are switching positions too often. The four enjoy over 51% market share in India.

Indian player HCL comes at a distant No. 5 with a dwindling market share of 5.6%. It is the only company in the top 5 to register a decline in sales, though the industry grew by 13%.

"International players have better brand value, better marketing strategies and channel partners, which drives sales for them," Gartner's principal analyst Vishal Tripathi said.

Dell, with a market share of 15%, is the top PC maker in India. Dell wrested the pole position from HP three quarters back, but may lose the slot to Lenovo in the next quarter. "Lenovo may lead the market soon," Tripathi said. His reasoning is based on the huge order (9 lakh PCs) Lenovo won from the Tamil Nadu government.

Dell, which manufactures 18 lakh units in India, said it will continue to be the market leader. Though Dell India's revenue is fairly small compared to the global turnover, the company expects to gain more foothold as there is much more space left for growth in India, said the company spokesperson Minari Shah.

HP, which was dislodged by Acer last quarter, regained its second position with 13.3% market share as the news about hiving off PC business fell apart.

HCL's market share fell to 5.6% in the September quarter from 6.6%, sequentially , according to Gartner Research. HCL's computer retailing business is hammered by the economic slowdown and lesser government investment in computing and office automation business. Earlier this month, the company had posted a 74% decline in net profit for the September quarter.

The combined desk-based and mobile PC shipments in India totalled nearly 31.5 lakh - the highest ever - in the third quarter, a 13% rise from last year.

Globally, HP was the largest vendor with a 17.7% market share in Q3. Lenovo moved into the second spot with a 13.5% market share. Dell had an 11.6% share.


Source: http://articles.timesofindia.indiatimes.com/2011-11-17/hardware/30409582_1_indian-pc-market-market-share-lenovo

The many ways into emerging markets

By: Bloomberg
Source: http://www.business-standard.com


While some travellers are wary of visiting emerging-market countries, they feel very differently about investing money there. Some $19.5 billion cascaded into emerging-market equity mutual funds in the first nine months of 2011, following a $46 billion flood from U.S. investors in 2010, according to the Boston Consulting Group. In both periods, emerging-market fund inflows exceeded those of any other fund category save for core bond funds.

Everyone, it seems, knows that emerging markets are where the growth is these days. The International Monetary Fund expects such economies to grow at four times the rate of "advanced economies" this year. Far less obvious, though, is the best way to profit from their growth. Some of the trendiest investing options have serious drawbacks.

One of the most popular routes into less developed markets is the MSCI Emerging Markets Index. It tracks 822 emerging-market stocks and is the basis for many mutual funds and exchange-traded funds, including the $45 billion Vanguard MSCI Emerging Markets ETF (VWO). As with many market capitalization-weighted indexes, the larger a company gets in the index, the more it dominates returns.

That becomes a problem when many of the fortunes of the big companies are tied more to global trends than to local growth, says Matthew Rubin, director of investment strategy at Neuberger Berman. The top stock in the MSCI Index is South Korea's Samsung Electronics, which got 42 percent of revenues in Europe and the Americas last year. It's not that export-led growth is bad, it's only that you're not getting the diversification away from developed markets that you think you are.

Investors wanting access to trends such as the growth of a middle class in countries like China, India and Brazil must invest in smaller companies with a local focus, says Rajat Jain, a partner and senior research analyst at Litman Gregory Asset Management. In October, Jain's firm announced plans to gradually boost its clients' emerging-market exposure from five per cent to 20 percent. In a report, the firm noted that in its "subpar recovery" base case scenario, emerging-market equities should still generate low double-digit returns.

One way to get a more direct connection to a local market is via a fund such as the Van Eck Market Vectors Brazil Small-Cap ETF (BRF). The 2.5-year-old fund's small-cap focus — it's made up of 74 Brazilian companies with an average market capitalization of $1.8 billion—prevents it from being dominated by huge companies such as Petroleo Brasileiro SA, the $171-billion oil company known as Petrobras. In the past two years, Van Eck also launched an India Small-Cap Index ETF and a Latin America Small-Cap Index ETF.

Greg Peterson, director of research at Ballentine Partners, prefers Dimensional Fund Advisors' Emerging Markets Small Cap Portfolio (DEMSX). He likes how the fund's holdings must qualify as value stocks based on criteria like price-earnings ratio, and says the fund's expense ratio is "relatively low" at 0.78 per cent.

Small-cap emerging-market stocks, of course, can be more volatile than their big-cap brethren. And those brethren have been pretty volatile lately. From August 1 to October 4, the MSCI Emerging Markets index plunged 28 percent.

Smart managers of actively managed funds can purposefully buy stocks with lower volatility, notes Morningstar senior fund analyst Karin Anderson. And, some of those managers have the freedom to buy developed-market stocks with high emerging-market exposure, another way to potentially damp volatility. Anderson cites American Funds' New World Fund (NEWFX), which, along with many emerging-market stocks, includes among its holdings Swiss food company Nestlé and Danish drug maker Novo Nordisk.
That's a strategy also employed by David Herro, chief investment officer for international equities at Harris Associates. For him, it's a way to buy exposure to emerging-market stocks at a time when he thinks prices are expensive.

Rather than own expensive shares of a Chinese brewing company, Herro invests in Heineken, a Netherlands-based brewer. Heineken gets two-thirds of its profits from outside Western Europe, including 23 percent from Africa and the Middle East. Investors have "overpriced" emerging-market stocks while they have "underpriced companies located elsewhere that do business in emerging markets," Herro says.
Actively managed international funds can be costly. One of the best-managed funds, says Morningstar's Anderson, is the Oppenheimer Developing Markets Fund (ODMAX). That said, its 1.35 per cent expense ratio is about as high as investors should ever go, she says, and is about four times the 0.35 percent fees on the Vanguard Emerging Markets Stock Index Fund.

To try and meet investor demand, investment companies are getting creative. Firms are coming up with many more new products that try to capture emerging-market growth with increasing sophistication, says Brent Beardsley, a partner at the Boston Consulting Group. One, the ASG Growth Markets Fund (AGMAX), was introduced October 24. It holds emerging-market stocks while using derivative contracts to reduce the fund's volatility. About a quarter of its portfolio is in derivatives tied to global stocks, bonds, commodities and currencies. It is co-managed by Andrew W. Lo, a Massachusetts Institute of Technology professor.
Such products are coming out because "there are more people chasing opportunities than there are opportunities to invest in," says Beardsley. The number of good companies listed on stock exchanges isn't rising as fast as investors' enthusiasm, he notes.

That means emerging markets remain a place where investors need to be cautious-no matter how fast their economies are growing.

Source: http://www.business-standard.com/india/news/the-many-ways-into-emerging-markets/456218/

Xerox Revamps India Team

By: CRN Network
Source: http://www.crn.in


Xerox strengthened its India leadership team to extend leadership in the business process and document management outsourcing segments. Xerox has appointed Konstantin Klein, Managing Director for Xerox India. Klein replaces Andrew Horne, who has taken a new role in Developing Market Operations for Xerox.

Klein brings diverse experience in management, sales & marketing and channel operations to his new role and is responsible for business operations in India, Bangladesh, Nepal, Sri Lanka, Bhutan and the Maldives.

He said, “Xerox has transformed over the last few years–we have always delivered high quality technology that enables our customers to achieve better productivity and savings, and have recently invested in delivering truly benchmark solutions and services that further differentiate us from the rest of the market. Post the ACS acquisition, Xerox is extremely well positioned to address BPO, ITO and document outsourcing services to take us to the next level. We are committed to investing in India’s future as a leading exporter of innovation.”

Xerox also appointed Vishal Awal, Executive Director, Services, Xerox India to effectively address the fast growing services opportunities in South Asia region. Awal joins Xerox with more than 20 years of experience in business development, key account management and global services business management roles in North America, Europe and in Asia Pacific regions. Prior to joining Xerox, he was the Vice President and Head of Customer Unit (CU), Erickson India.. Awal was instrumental in ushering in managed services/outsourcing trend within the telecom industry in India. At Xerox India, Awal will be responsible for driving the company’s growth in the document management and business process outsourcing services markets.

Other changes include Xerox India’s Technology & Channels portfolio will be headed by Vipin Tuteja, Executive Director, Technology, Channels and International Business, Xerox India. Tuteja will be responsible for Xerox India’s office and production printing businesses and his experience of working with Xerox will help strengthen Xerox India’s partnerships and grow the channel operation, which are critical for the company’s growth and expansion. Tuteja will work with the newly appointed regional business heads in South, Central and North & East regions to expand Xerox’s pan India presence. The appointments include; Rajiv Luthra as Regional Head—Central, M Venkat Rao, Regional Head—South & Arvind Chabra continues as the Regional Head- North & East.

Xerox has also strengthened the marketing function with the appointment of Vivek Chandel, Executive Director—Marketing, Xerox India. Chandel has over 20 years of experience in Marketing & Business Operations in organisations like Tata Tele-Services, Bharti Airtel and Escotel. Prior to joining Xerox, he was the Chief Operating Officer for Tata Teleservices for UP West and Uttarakhand.

Manmohan Kalsy joins in as Executive Director, Human Resources, Xerox India. Kalsy has over 21 years of experience in the HR function across manufacturing, consumer goods and telecom sectors with companies like DCM, Gillette, PepsiCo & Hutchison. Prior to joining Xerox India, Kalsy headed the HR function for the India captive shared services at Vodafone and was a part of the global business transformation team.

“With this infusion of senior talent and expertise, Xerox India aims to capture new opportunities in the fast-growing document management, services, graphic arts, production printing and office printing markets,” added Klein. “The robust and hard-working team at Xerox India will continue to deliver world-class technology, service and solutions to our customers, partners and other stakeholders,”added Klein.

Source: http://www.crn.in/Hardware-025Aug011-Xerox-Revamps-India-Team.aspx

Dell India celebrates the 10th Anniversary of its India R&D center |

By: Dell India (Business Wire India)
Source: http://www.moneylife.in


Dell today announced a significant milestone for its India business - the 10th anniversary of its India research and development center based in Bangalore. Dell India R&D has been through an eventful decade and significant investment has been made in building its enterprise business & creating a team of technologists and senior engineers. Dell continues to reap benefits by moving up the value chain of product development. More than 1600 invention disclosures, over 150 published article/papers and 50 enterprise software products exhibit far-reaching capability of the team and great commitment towards quality and schedule.

“Dell plans to make India a hub for the development of enterprise products such as servers, storage, and software,” said Mr. Brad Anderson, Senior Vice President, Enterprise Product Group, Dell. He added, “Dell today has its strongest-ever portfolio of solutions, intellectual property and differentiated products, backed by new skills and capabilities in our India team, serving the local as well as global markets. Dell India R&D center is especially critical to enterprise business of Dell with the capability to own end-to-end products. We will continue to build capacity and further invest in India on Research and Next Generation products.”

Maintaining a steady pace of growth, Dell India R&D center has taken ownership of products ranging from servers, storage, data centers, systems software, hardware design, validation and testing, new features enhancement and continuous optimization and building its core competence for the global market. With this solid foundation, Dell India R&D center has enhanced its market technical support activities and in the recent years embarked on providing system integration solutions for operators worldwide.

Dell R&D center hosts seasoned management team with deep rooted Dell culture for rigor & drive for innovation. Some of the upcoming plans from the India R&D center towards futuristic projects/programs are:

-- Increased focus on next generation of servers and data centers which will help integrate and align the enterprise technologies across its product portfolio to help companies simplify and manage their organizations’ IT infrastructure
-- Major development is in progress to deliver cutting-edge virtualization software product to manage future data center
-- Research is already in progress towards top-end embedded systems management product, yet to be launched

“Our India R&D center growth has been encouraging and contributed immensely to the enterprise business of Dell. We will continue to build the ecosystem in Bangalore to engage with our worldwide partners and going ahead the center will also play a huge role in delivering top-end products and solutions.” said Mr. Rudramuni B, Executive Director and Head of Dell India R&D.

Source: http://www.moneylife.in/business-wire-news/dell-india-celebrates-the-10th-anniversary-of-its-india-rd-er/28948.html

GE, Greenko Plan $115 Million Investment in India Wind Farms

By: Boomerang
Source: http://www.businessweek.com


Oct. 10 (Bloomberg) -- General Electric Co., the world's third-biggest supplier of wind turbines, announced its first investment in Indian renewable energy generation with plans to build $115 million of wind farms with Greenko Group Plc.

GE Energy Financial Services will invest $50 million and Greenko $65 million to create 500 megawatts of wind projects, enough to power 875,000 Indian homes, according to a statement on GE's website. The deal expands GE's $6 billion portfolio of global clean-energy investments into a country that added the most new wind capacity last year after China and the U.S.

The first 65-megawatt project, in Ratnagiri, Maharashtra state, will use Fairfield, Connecticut-based GE's 1.6-megawatt turbines and be completed by December, it said. They will come from GE's plant in Pune.

Greenko estimates that the country has harnessed less than 25 percent of its wind-energy potential to date, the statement said. India had about 15,000 megawatts of wind capacity as of Aug. 31, according to the Ministry of New and Renewable Energy.

GE was the third-largest supplier of wind turbines in 2010, behind Denmark's Vestas Wind Systems A/S and China's Sinovel Wind Group Co., according BTM Consult ApS, a Denmark-based wind industry researcher.

Greenko, based in Douglas, Isle of Man, and backed by private equity firm TPG Capital, has plans for 1-gigawatt of Indian wind capacity by 2015. It's putting up farms in Andhra Pradesh, Karnataka and Rajasthan states, the statement said.

Source: http://news.businessweek.com/article.asp?documentKey=1376-LSU6HB6K50XX01-5JG7165RC08108HAS0N83E2N9N

India May Ease Rules Next Week to Allow Wal-Mart, Tesco Entry

By: Unni Krishnan
Source: http://www.businessweek.com


Nov. 17 (Bloomberg) -- India may consider a proposal next week to allow Wal-Mart Stores Inc., Tesco Plc and Carrefour SA gain access to the $396-billion retail market in Asia’s second- fastest growing economy.

The cabinet will discuss a plan to permit overseas companies to own as much as 51 percent of stores that sell more than one brand, said four government officials with direct knowledge of the matter. Full foreign ownership of companies that sell a single brand will also be considered, one of the people said. All four declined to be identified, citing government policy.

India bars overseas companies from owning retail outlets that sell more than one brand and allows 51 percent holding in single-brand retail. Wal-Mart and Carrefour, who operate wholesale stores in the country, are among companies vying for a share of a market that Business Monitor International estimates will double to $785 billion by 2015.

“India is a huge market that will attract the interest of foreign investors,” said Deven Choksey, managing director at Mumbai-based K.R. Choksey Shares & Securities. “Food prices will be under check when organized retail comes in because it is accompanied with infrastructure development at the back end.”

Pantaloon Retail Ltd., India’s largest retailer, surged 7.4 percent in Mumbai today, while Trent Ltd., Tesco’s local partner, rose 0.2 percent. The benchmark Sensitive Index declined 1.9 percent.

Arti Singh, a spokeswoman for Wal-Mart’s India operations, declined to comment on speculation. Mohan Shukla, director of corporate affairs for Carrefour India, gave no comment.

Local Purchases

The approval may include conditions such as purchasing at least 30 percent of goods locally, two of the people said. The decision may come as early as Monday, they said. Foreign retailers will need to invest at least $100 million in the country, with half that amount going to develop the supply chain, one of the people said.

Bharti Walmart Pvt., the Bentonville, Arkansas-based company’s joint venture with Bharti Enterprises Pvt., operates fourteen wholesale stores in India. Carrefour, based in Boulogne-Billancourt, France, opened its first such store in December.

Tesco, Britain’s largest supermarket chain, will set up its India operations once the government allows foreign ownership, Lucy Neville-Rolfe, a director at the company, said on Nov. 14. The Cheshunt, U.K.-based retailer has a franchise agreement with Trent, a Tata Group company.

“We have a long-term plan given that India is going to have about 25 percent of the world’s population,” Neville- Rolfe, said in the interview in Mumbai. “So it is good for us to invest more.”

Fighting Inflation

Raj Jain, who heads Wal-Mart in India, said last year foreign retailers can help slow inflation by helping improve the quality of the local supply chain. About 40 percent of India’s fruit and vegetables rot before they can be sold because of a lack of cold-storage facilities and poor transport infrastructure, according to government figures.

A panel on inflation in a report recommended easing rules for multibrand retail to help moderate food prices, Kaushik Basu, chief economic adviser in the finance ministry and a member of the group, said in May.


Source: http://www.businessweek.com/news/2011-11-18/india-may-ease-rules-next-week-to-allow-wal-mart-tesco-entry.html

PizzaExpress to Open in India

By: RUMMAN AHMED
Source: http://online.wsj.com/


BANGALORE – Gourmet Investments (P) Ltd. and PizzaExpress HoldingsPvt. Ltd. Friday entered into a 50-50 joint venture to launch the privately held U.K.-based Gondola Group's PizzaExpress chain of restaurants in India.

Gourmet Investments is owned by the Bharti Family Office, an entity that handles the personal investments of the founders of Bharti Enterprises Ltd.

The first restaurant is expected to be launched some time next year, Bharti Enterprises said in a statement.

The deal comes as foreign food companies seek to capitalize on the growing propensity among India's middle class to dine out and spend more on beverages and processed foods.

Dunkin' Donuts, a unit of U.S.-based Dunkin' Brands Inc., signed an agreement with India's Jubilant FoodWorks Ltd. in February to open 25-30 Dunkin' Donuts outlets over the next three years.

U.S. coffee shop chain Starbucks Corp. is also likely to announce shortly an alliance with Tata Coffee Ltd. to open outlets in the country.

Bharti Enterprises is the parent company of Bharti Airtel Ltd., India's largest telecommunications company by users. It has interests in retail through Bharti Retail Ltd. and Bharti Wal-Mart Ltd., a joint venture with Wal-Mart Stores Inc. The group has also expanded into the insurance, financial services, realty and higher-education sectors.


Source: http://online.wsj.com/article/SB10001424052970203687504577003754015158544.html

Dominos to reach 500 store counts by 2012

By:India Retailing
Source:http://www.indiaretailing.com


Dominos Pizza, one of the market leaders in organized pizza home delivery segment, has announced its plans to open 500 outlets by 2012. The pizza chain has 411 outlets in India and plans to open 80 new outlets every year, to strengthen its presence in the country.

“Our performance as an organization is already reflected in our financial performance in the last few quarters. Currently, there are 411 Domino’s stores in India and plans are afoot to expand the brand’s footprint further into the Indian heartland. If all goes as per our plan to add at least 80 stores annually, we should be opening our 500th Domino’s Pizza outlet sometime next year,” said Shyam S Bhartia, Chairman, Jubilant FoodWorks Ltd.

Ajay Kaul, CEO Jubilant FoodWorks Limited, added: “Our success stems from not merely growing the number of stores but more importantly on focusing on our customers. Our growth is fueled by customer’s love for our products. With the addition of 100 stores in last 15-16 months, we are now amongst top 5 globally in the Domino’s network in terms of absolute number of stores.”

Jubilant Foodworks (JFL) and its subsidiary operates Domino’s Pizza brand with the exclusive rights for India, Nepal, Bangladesh and Sri Lanka. The company claims to be the market leader in the organized pizza market in India with over 50 percent market share and 70 percent share in the Pizza home delivery segment. The Company has also strengthened its portfolio by entering into an alliance with Dunkin’ Donuts, for developing the Dunkin’ Donuts brand and operating restaurants in India.

Domino’s Pizza was established in 1960 and currently operates in 65 countries. The brand has 9064 outlets worldwide.


Source: http://www.indiaretailing.com/news.aspx?topic=1&Id=6267

Telephonics and Mahindra and Mahindra to Form Joint Venture

By: Press Release
Source: www.marketwatch.com


NEW YORK, Nov 17, 2011 (BUSINESS WIRE) -- Telephonics Corporation, a subsidiary of Griffon Corporation GFF -1.13% , and Mahindra & Mahindra Ltd., a $12.5 billion multinational group based in Mumbai, India, announced the signing of a Memorandum of Understanding to form a Joint Venture (JV) to provide the Indian Ministry of Defense (MOD) and the Indian civil sector with radar and surveillance systems, Identification Friend or Foe (IFF) devices and communication systems. In addition, the JV intends to provide systems for Air Traffic Management services, Homeland Security and other emerging surveillance requirements.

The JV envisages establishing a plant in India which would manufacture and service airborne radar systems that are already being supplied to Hindustan Aeronautics Ltd (HAL) and to support airborne maritime surveillance systems for the Indian Navy and Coast Guard. The JV will license technology from Telephonics for use on a wide range of products that have both defense and civil applications.

Approval is being sought from the Foreign Investment Promotion Board of the Government of India (GoI) for the establishment of the JV in accordance with the current defense sector Foreign Direct Investment regulations of the GoI.

Anand Mahindra, Vice Chairman and Managing Director, Mahindra Group, said "We are delighted to partner with Telephonics and are committed to supporting the Indian MOD's requirement of having a capable indigenous defense private sector. We will continue to strive to deploy niche technologies that support a stronger nation, such as our JV with Telephonics."

Brig Hai, Chief Executive of Mahindra Defense Systems, a division of Mahindra and Mahindra, said "By partnering with Telephonics, Mahindra will become a 3-dimensional force providing products for Land, Maritime and Air platforms. Telephonics is an acknowledged leader in the field and will allow us to achieve our ambition to be a leading systems integrator for defense and civil applications."

"We are very pleased to be partnering with Mahindra, a leading player in the defense sector" said Joseph Battaglia, CEO and President of Telephonics. "The defense market in India is an important part of our international expansion plans and Mahindra is the right company for us to grow with in India."

Telephonics has already established a presence in the Indian defense and civil markets. For example, Telephonics supplies RDR-1400 weather avoidance radar systems for helicopters being built in Bangalore, India. It is also contracted to supply Boeing with APS-143C(V)3 Multi-Mode Radars (MMR) for India's P-8i Maritime Surveillance aircraft, and is responsible for installation of a sophisticated intercommunication systems for the C-17 Globemaster contracted for by the Indian Air Force.


Source: http://www.marketwatch.com/story/telephonics-and-mahindra-and-mahindra-to-form-joint-venture-2011-11-17
 

Awarded As The Best Car Hire Company In India By Times Travel Honors

By: Announcement
Source: http://www.business-standard.com/india/


Wins “Asia’s Leading Car Hire” Title For The 6th Year at Regional World Travel Awards

Avis India, the leading International car rental brand in India has been awarded as the best Best Car Hire Company by the Prestigious “Times Travel Honours”,. These awards are aimed at recognizing and honouring outstanding achievements of individuals / companies who have created a positive impact in Indian Tours and Travel Industry.

Avis in Asia too has again been awarded as “Asia’s Leading Car Hire” company at the regional World Travel Awards ceremony this year. The World Travel Awards is a prestigious organization of travel professionals around the world that recognizes excellent customer service in the international travel and tourism industry. Avis at the awards was named Europe's Leading Business Car Rental Company, Asia’s Leading Car Hire Company, Africa’s Leading Business Car Rental Company, Indian Ocean’s Leading Car Rental Company and Egypt’s Leading Car Rental Company. The awarding ceremony was recently held at the Dusit Thani Hotel in Bangkok, Thailand.

This is the sixth consecutive year that Avis Asia has brought home the “Asia’s Leading Car Hire” accolade from the esteemed institution. Avis has been honored as the top car rental company in Asia since 2006 for its excellent delivery of customer service and reliability amidst tight and growing competition in the industry.

Speaking about the awards Mr Sunil Gupta, CEO, Avis India, said, “Providing a high quality service on an odd occasion may be possible for some other operators but the real differentiator for Avis is that it does this consistently, time after time, across all 17 cities and from all 39 locations that we operate in. An Avis customer is getting into an Avis car somewhere in India once every 45 seconds. Providing a consistently high service on each of these occasions demands an investment in people and technology, which we have been doing consistently. Receiving these awards for the sixth year in a row proves that our constant endeavor to understand customer needs and invest in processes to meet these needs has proved successful. This is really a proud moment for us”.

The World Travel Awards highly regards excellent customer experience as the main differentiator to lever commercial advantage. Since founded 18 years ago, the World Travel Awards has always aimed to acknowledge, reward and celebrate achievements in all sectors of the global travel industry. As a benchmark for industry excellence, the World Travel Awards prides itself on identifying companies that consistently excel beyond expectation to offer a world-class service, making it the most coveted and sought after awards in the industry.

Avis’ success at the World Travel Awards and all these prestigious award shows only proves how Avis can make a difference in the service industry. Through its steadfast commitment to world class service and customer satisfaction, as well as its relentless goal to provide flexible mobility solutions to travellers around the world, Avis remains unparalleled in this realm despite tough competition.

Furthermore, Avis has also been awarded as the Best Car Rental Company Worldwide by UK-based international travel publication, Business Traveller; and the Silver Lions during the much acclaimed Cannes Lions International Festival of Creativity for its commitment to environmental sustainability through its “Carbon Neutral” status in South Africa. This noble effort has also been recognized in the Climate Change Leadership Awards where it won top prize in the Corporate Services Category followed by recent results on the Top Brands Survey of the Sunday Times (South Africa) wherein it gained top ranking in the Business to Business Car Rental Category.

Its impressive accomplishment in the service industry is all the more exemplified with its recognition as the Leading Car Rental Company in Customer Loyalty in the Brand Keys Customer Loyalty Engagement Index in India.

Avis India, which has received numerous prestigious awards and recognitions, has also earliuer been recognized as a ‘Super Brand’ for the year 2008 – 2009 as well as the Category One Best Tourist Transport Operator Award by National Tourism Awards 2008-09.

Avis in India is a one-stop shop for all car rental needs with Safety, Quality, Timely Service delivery & customer delight as some of its important benchmarks. Avis in India offers chauffeur and self-drive services across a wide range of cars including Economy Segment Cars, Mid Segment (Suzuki Swift Dzire, Ford Fiesta & Honda City), Premium Segment (Toyota Corolla, Toyota Camry, Mercedes E & S class) and MUV/SUV (Toyota Innova, Ford Endeavour & Mitsubishi Pajero).



Source: http://www.business-standard.com/india/news/avis-reaps-success-in-travelmedia-awards/455665/

Honda Motorcycle likely to set up two more plants

By: Amrit Raj
Source: http://www.livemint.com


Honda Motorcycle and Scooter India (Pvt.) Ltd (HMSI) plans to set up at least two more plants in the country in pursuit of its ambition to become India’s largest selling two-wheeler company in the next 10 years, according to three people familiar with the development.

The company is already in exploratory talks with the Gujarat and Uttarakhand governments for setting up the plants over the next three-four years.

The proposed plants will add another 2.5 million units to HMSI’s capacity.

“The idea is to become a leader in the Indian market in another 10 years,” said a person familiar with the development. “The two-wheeler industry is expected to double in another four years, and by 2020 it may double again. This expansion plan is keeping such demand in mind. In the longer term, HMSI aims to have a capacity of 10 million units.”

The Indian two-wheeler industry will grow at an average annual growth rate of 14%, according to the Society of Indian Automobile Manufacturers. At this rate, the market is expected to double every four years till 2020. The industry sold 11.8 million units in 2010, registering a growth of 26% over the previous year.

HMSI’s market share in the first seven months of this fiscal to October stands at 13.4%. It trails Hero MotoCorp Ltd, which dominates the two-wheeler market with a 45% share, and Bajaj Auto Ltd, which has a 20% share. While Hero MotoCorp has a total capacity of 6.4 million units, Bajaj has a capacity to produce 5.5 million units a year.

Japan’s Honda Motor Co. Ltd exited its joint venture with the Hero Group—Hero Honda Motors Ltd—in December 2010 and is now focused on HMSI, its two-wheeler subsidiary, for its plans in the Indian two-wheeler market.

HMSI already has two plants in Gurgaon (Haryana) and Tapukara (Rajasthan) with a capacity of 2.8 million units. It is already building a third factory in Narsapuram in Karnataka, which will add another 1.2 million to its capacity in 2013.

HMSI executives have visited Gujarat a couple of times in the past three months and held preliminary-level talks with government officials for setting up a new plant in the state. The company is looking for250 acres of land for its new factory, said a government official on condition of anonymity.

“Honda officials told us that they have been asked by the top management to survey potential sites in the country for setting up a new project. Gujarat has emerged as a new auto destination with companies like Ford and Peugeot deciding to set up their new plants here, and Honda was keen to know about the incentives offered to these auto companies,” he said.

While Honda has not submitted a detailed proposal, the company plans an investment of Rs.500 crore in the plant, according to the government official.

The state government offers incentives including soft loans and some tax benefits to companies aiming to invest at least Rs.1,000 crore on a project. “If Honda wants to avail these benefits, they have to invest Rs.1,000 crore or more,” the official said.

The company is also in talks with the Uttarakhand government for another plant in the country, said the person cited above.

“We have laid the foundation of a third factory at Narsapuram, Karnataka. With the three plants, we shall have a capacity to produce four million units by 2013,” the company said in an emailed response. “Any further expansion is not decided and it depends upon market demand.”

Shinji Aoyama, a former chief executive of HMSI, had told Mint in March that the company wants to emerge as the leader in the country’s two-wheeler market. “Our target is to become the No. 1 company in the next 10 years,” Aoyama had said.

In line with its expansion plan, the company also plans to put in place a cost-effective supply chain for delivering products. “As our dealer sales and service network is expanding rapidly, we have created five regions for sales operations from 2007. The Bangalore, Pune and Kolkata regional offices were already set up between 2007 and 2010. However, the Lucknow office started in 2011 for the central region,” the company said in the email. “This plan is to speedily build network to respond to customer requirement quickly.”

It’s an ambitious step taken by HMSI to take on Hero MotoCorp, said an analyst with a leading brokerage firm, who declined to be named. “They have been very aggressive in the country and with this kind of expansion plan, the intent is very clear,” said the analyst. “But as far as Honda dominating the market is concerned, I have some doubts as the other three (Hero, Bajaj and TVS Motor Co. Ltd) are seasoned players in this market.”

Source: http://www.livemint.com/2011/11/13192050/Honda-Motorcycle-likely-to-set.html?atype=tp

Coke in $2bn push to boost India share

By: Alan Rappeport
Source: http://www.ft.com


Coca-Cola, the world’s largest soft drinks company by revenues, said on Monday that it would invest $2bn in India over the next five years, as it looks to deepen its presence in fast-growing emerging markets amid slowing US demand for carbonated beverages.

Coke’s India investment matches what the company has spent there in the past 18 years and the funds will be used to develop manufacturing and distribution capacity and on consumer marketing.

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“The opportunity in the packaged beverage segment is immense, and our efforts in India are focused on being the beverage of choice all day, every day,” said Ahmet Bozer, head of Coke’s Eurasia and Africa group.

“If we continue to do the right things each day and at all times, it would not surprise me if India becomes one of the top five markets for the company globally by the end of this decade.”

Coke employs 25,000 workers in India and has been engaged in a tough battle for market share there with rival PepsiCo since re-entering the market in 1993.

Both companies have been stepping up efforts in emerging markets as concerns about obesity in the US have softened demand for carbonated soft drinks.

The new commitment to India marks a big shift from the contentious relationship between the company and the country in the 1970s. Coke abandoned the Indian market in 1977 after the government demanded that the company partner with an Indian company and share its secret formula.

Coke and Pepsi have also faced challenges in India more recently. In 2005, the companies launched campaigns to convince Indian consumers that their products were safe, after several states enacted partial bans on the beverages because of fears that they contained pesticides.

Coke accounts for 56 per cent of India’s carbonated soft drinks market, while Pepsi has 40 per cent, according to data from Beverage Digest.

In 2008, Pepsi announced a $500m investment in India and said it wanted to triple its revenues from the country within five years.

In India, Coke’s top-selling brands are Thums Up, Sprite and Maaza, a popular juice drink. Growing demand for Maaza has created a mango shortage in India and the company is working with low-tech farmers to teach them new mango-growing techniques. Monday’s announcement followed Coke’s decision in August to invest $4bn in China during the next three years.

That was added to a $3bn investment it announced in 2009.


Source: http://www.ft.com/intl/cms/s/0/32a67f42-0ee7-11e1-b585-00144feabdc0.html#axzz1dqQH3Uq3

Intel Capital Invests US$40 Million in 10 Asian Companies (Including in India)

By: Financial
Source: http://finchannel.com


The FINANCIAL -- Intel Capital, Intel Corporation’s global investment and M&A organization announced US$40 million worth of investments in 10 Asian companies, reflecting the rapid spread of technology innovation across Asia.

The investments include eight new investments in companies from China, India, Japan and South Korea, and two planned investments in companies from Taiwan.

The 10 investments were announced at the 12th annual Intel Capital Global Summit in Huntington Beach, Calif. Formerly known as the CEO Summit, the Intel Capital Global Summit brings together approximately 900 portfolio company CEOs, corporate technology decision makers and industry leaders from around the world.

“Technology adoption and innovation is an accelerating global phenomenon, and Asian entrepreneurs from both mature and emerging markets are on the cutting edge of this trend,” said Arvind Sodhani, president of Intel Capital and Intel executive vice president. “These 10 companies offer unique technology – from remote security solutions to interactive cloud-based services – that enhances productivity, security and the online experience for consumers and businesses around the world.”

The 10 investments cover a range of innovative technologies, including semiconductor design and manufacturing, green technology, software, security, social gaming and cloud-based services. Details of each investment, including the amount to be invested, were not disclosed.In addition to the new investments, Intel Capital announced that International Finance Corporation joined the Intel Capital Global Investment Syndicate. Initiated in 2010, the Intel Capital Global Investment Syndicate is a select group of investors around the world that co-invest in select deals with Intel Capital. The program objective is to help companies grow faster by providing global market reach, technology expertise, board members and advisors along with a ready access to additional growth capital over time.

IFC is one of the largest global development institutions with a focus on dozens of countries in the developing market worldwide. By co-investing with Intel Capital in international companies such as China’s HiSoft Technology and Russia’s Yandex, IFC is helping to support the development of innovative technology companies.


Source: http://finchannel.com/Main_News/Tech/97716_Intel_Capital_Invests_US$40_Million_in_10_Asian_Companies/

 

GM product chief knocks down barriers

By:Christina Rogers
Source:http://detnews.com

Mary Barra, General Motors Co.'s product chief, has little patience for needless impediments.

Her first week on the job, she took one look at all the layers of security doors standing between her office and the engineering staff, and knew immediately they had to go.

"We were creating a barrier that didn't need to be there," said Barra, sitting in her ground-floor office at GM's Technical Center in Warren.

"To me, getting rid of the extra card swipes was like 'Hey, we're part of a team, we should all be accessible.'"

The security doors are now gone, but Barra — named head of global product development at GM in February — continues to knock down barriers and subvert convention in efforts to shake up GM's staid corporate culture in the place where it counts most: the company's laboratory for new cars and trucks.

Less than a year on the job, she's eliminated an entire layer of engineering management, brought marketing execs into the product design fold and is working to liven up GM's in-car entertainment. "The back seat is a whole new ballgame," Barra said, on this last point.

She's working to simplify GM's vast global operations, as well as get GM leaders to make decisions quickly and then stick with them.

"We're not going to do this up-and-down investment," Barra said, in an hour-long interview with The Detroit News.

"We're going to say 'These are the key products'" she said.

"Let's set up the organization to execute them."

As product chief, Barra's job is among the most important at GM.

She manages 36,000 engineers and designers worldwide. The cars and trucks designed under her watch — those likely to hit showrooms over the next three to four years — will largely determine whether GM sustains its still fragile turnaround.

"They have to keep the hits coming," said Michelle Krebs, a senior analyst with Edmunds.com.

"Because the competition isn't letting up, the company with the best product wins."

The world's largest automaker faces other challenges as well. It's about a year behind on its timetable for new car and truck launches, meaning some models are starting to look dated on dealer lots.

The company is trying to bring consistency to its engineering budget and insulate it against market swings. Prior to bankruptcy, GM was losing about $1 billion annually by starting new vehicle projects in good times, only to stop them when the market turned bad. It's an approach Barra likened to a "roller coaster."

Adding to this challenge are new federal fuel regulations, which could require automakers to boost fuel economy of their lineups to an average of 54.4 mpg. That's about double what it is now.

Given this, Barra has no time for the old GM's plodding culture.

"I'm not tolerating it," she said tersely.

Under her leadership, 50-page PowerPoint presentations are banished and engineers are expected to arrive at meetings having reviewed the necessary material.


Source:: http://detnews.com/article/20111115/AUTO01/111150325/GM-product-chief-knocks-down-barriers#ixzz1dlKaZZz1

India: The World's Secret Silicon Valley

By: Reuters
Source: http://www.theatlantic.com

For many firms, developing new products for consumers around the world is the most visible manifestation of innovation - the "real deal." But many people still see India as a place where other people's ideas are made or executed and not where innovation begins. (After all, you don't hear about an Indian equivalent to Google, iPod or Viagra.) Bu they're wrong. In more than 600 captive research and development (R&D) centers across India today, corporations are designing and building amazing new things.

For example, GE's John F. Welch Technology Center has developed a string of technological marvels. A transparent roof spanning 300 meters without any central supports. Adevice to display integrated anatomical information from a CT scan with live functional information from a PET scan. A car bumper that self-destructs on impact (rather than destroying, say, the leg of an unlucky pedestrian). The markets for these wonder products are truly global, encompassing the United States, Europe, Asia and, of course, India itself.

Similarly, Intel's R&D center in Bengaluru is its largest unit outside the United States, having recently overtaken the much older Israeli unit. Some of its work is truly "blue-sky" research. For example, the center delivered the world's first tera-scale experimental chip capable of one trillion operations per second.

In addition to GE and Intel, other global companies are also taking advantage of India's innovation skills. Indian R&D units are present in AstraZeneca, EMC, Microsoft, Philips, Pfizer and Alcatel-Lucent - providing striking evidence that Indians can "do" innovation. But global consumers rarely recognize India as the country of origin because most of this innovation is invisible. How so? The innovation occurring in these Indian captive units is visible only to other business units and is not revealed to end consumers.

To understand the nature of this invisibility, consider how new complex multicomponent products such as engines, IT hardware, or even major software are currently developed in multinational companies. Using horizontal segmentation, the various components involved are often developed in parallel, in different countries, only to be assembled at a later date. And India plays a large role in this multi-country orchestration of development of new products.

Because no country unit is solely responsible for the final result, it's difficult to associate any particular place with the innovation. Thus, the head of the GE unit in Bengaluru took great pains to state clearly that the unit in Bengaluru helped develop everything, but would not take sole credit for the aircraft engines and wind turbines. Equally important, no other R&D unit in the GE network can claim sole credit, either, which begs the question: "Where was it really innovated?"

One thing is clear: the availability of high-quality talent is a key innovation driver, and in fact, confidence in the capabilities of India's talent pool has increased. When we look to Microsoft, Bill Gates has noted: Microsoft's India center has exceeded expectations in terms of how quickly it became a contributor to the company's R&D network. This example among others indicates India has become an "unavoidable destination" for R&D and innovation centers.

Given India's historic absence from the innovation arena, many might ask how the country has contributed to outsourced innovation. The global services delivery model was invented in the late 1990s by many Indian IT companies, and this model allows for a key transformation: tightly integrated tasks formerly performed by workers in one location working for a single company now take on a distributed format, such that different parts of the work are executed in different geographies. The advantages are obvious, including the ability to (1) execute work where the best expertise exists at the lowest possible costs, (2) take advantage of time zone differences for round-the-clock efforts, and (3) achieve some level of risk diversification by building redundancy across locations.

These factors and the global delivery model have become fundamental to India's transition to an innovation destination. This process should work well for fairly routine, standardized tasks (e.g., booking flights and making restaurant reservations) as well as high-value-added knowledge work or creative work such as R&D because the global delivery model focuses not on the task itself, but whether the subtask links can be managed across distances.

With this efficient model and high-quality talent in place, India is positioned to be recognized not just for successful offshore services, but as the next global innovation hub.

Source: http://www.theatlantic.com/business/archive/2011/11/india-the-worlds-secret-silicon-valley/248341/

Volkswagen to bring more small cars to India to raise market share

By: Shally Seth Mohile
Source: http://www.livemint.com
Following a spat with its international partner Suzuki Motor Corp., German car maker Volkswagen AG​ wants to introduce more small cars in India on its own to increase market share.

The Volkswagen Group India, which sells the premium Volkswagen, Audi and Skoda cars in the country, wants to more than double market share to 11% in four to five years, said John Chacko, the group’s chief representative in the country.

Volkswagen sold 81,360 cars in the nine months to September compared with 32,359 a year earlier, and hopes to end the year selling 100,000 cars. Its Chakan factory, near Pune, has a capacity to turn out 110,000 cars a year.

India’s 2.5 million unit passenger car market expanded by more than 25% in the past two fiscal years but is expected to slow down to single digits in the year to March 2012 due to an economic slowdown.

Two years after launching its compact car, the Polo, Volkswagen plans to introduce another compact car, Volkswagen Up, next year that will be priced below the Polo. It is also considering bringing the Skoda Citigo to India.

“The way things are being played out in the volume segment, is very interesting,” Chacko said.

“But we are not even present there. So any step into the future means we have to enter this segment, otherwise there’s not much scope of being further competitive,” he said.

The re-think of Volkswagen’s India strategy has been prompted by its tie-up with Suzuki, which owns Indian market leader Maruti Suzuki India Ltd, going astray, an analyst said.

“The tie-up would have offered Volkswagen an automatic advantage as they would have got a strong local partner in Maruti Suzuki,” said Colin Couchman, a European automotive analyst at IHS Automotive, a sales forecast and market research firm, in a phone interview from Germany.

“The Indian market is skewed towards low-cost cars while Volkswagen’s expertise lie in the premium cars. The (market share) target looks ambitious,” said Couchman.

Volkswagen and Suzuki formed a tie-up in December 2009 to bolster Volkswagen’s presence in India for small cars and give Suzuki access to latest hybrid and diesel technology. But Suzuki now wants to end the partnership.

Chacko admitted Volkswagen is a late entrant in India’s intensely competitive small car segment. A number of auto makers have been launching low-priced small cars that account for 70% of total car sales.

Car companies have been slicing the segment by launching models at varied price points. Hyundai Motor India Ltd launched the Eon this month to take on Maruti Suzuki’s largest selling model, the Alto. Honda Siel Cars India Pvt. Ltd launched the Brio in September at a higher price, its first bet in the entry level compact car segment.

Competitiveness will depend on localization, which brings down costs, Chacko said. The company hasn’t localized the engines and gearbox, the most expensive units.

“The right thing to do is to make further investment into the segment and we then have the chance of solving some of the cost issues we have at the moment,” he said.

However, investments in Maharashtra, where the group is based, will depend on the state government’s policy on value-added tax (VAT).

“We shopped around before setting up a base here. While we have held our promises in terms of investment and employment generation, they (govt) are not,” Chacko said. The Chakan factory was set up with an investment of Rs.3,800 crore and employs 2,500 people.

Maharashtra may soon withdraw a notification that restricts the benefits of VAT refunds to consumers in the state and excludes those sold to the distribution and sales arms of car makers, Mint reported on 10 August. The state government is yet to take a decision on the matter.

An executive at a rival firm said Volkswagen has been more market savvy and flexible in its approach to the Indian market than some rivals.

“They have also managed to expand sales and distribution network at a much faster pace. We consider them a very strong competitor, ” the executive said on condition that neither he nor his firm be named.

Source: http://www.livemint.com/2011/11/01215938/Volkswagen-to-bring-more-small.html?atype=tp

India meets latte and latches on

By: Pia Heikkila
Source: http://www.thenational.ae

Coffee shops in Mumbai are hip, happening places. There is all the latest Bollywood gossip to be shared, deals to be made and the internet to be surfed.

And then there is, of course, the coffee - and sandwiches and cakes.

Comfy sofas, muzak and armchairs invite guests to linger. And linger they do.

One of them is Neha Punjabi, an advertising director, who is sitting hunched over her laptop, sipping a latte and nibbling on a bagel.

"'I've been here for about four hours today and come here at least three times a week," she says. "I mainly come here to use the internet for work and meet my friends. For me it's the extension of my living room."

It is people such as Ms Punjabi whom the US coffee shop giant Starbucks wants to court as the Seattle-based company is believed to be weeks away from opening its first outlet in India, to be based at the renowned Taj hotel in the Mumbai district of Colaba.

Starbucks wants its slice of the juicy pie that India can potentially offer. The country's coffee shop market is worth a modest US$200 million (Dh734.6m) but in just four years it could be worth five times as much, according to Research In India. This is against the mature US market, which last year was worth about $18bn, according to the market research company Mintel.

Starbucks is not landing in India a moment too soon. The thirst for coffee is growing.

Market sources say Starbucks and the Indian multi-industry giant Tata have carved a joint venture that would allow the US company to operate in India. The country's foreign direct investment regulations would allow Starbucks to hold up to 51 per cent in the joint venture. Starbucks and Tata declined to comment on their plans.

The US company is clearly keen to boost its overseas revenue as it currently receives a fifth of its sales from non-US operations. Its net income for the three months to July 3 stood at $279.1m, up 34 per cent on a year earlier, with international revenue rising by 20 per cent versus 9 per cent in the US, according to the company's figures.

There are about 1,700 to 1,800 coffee-shop chain cafes operating in India, and the market can easily absorb more than twice those numbers in the top 50 to 60 Indian cities, says the research firm Technopak.

"The initial effort and work required to familiarise people with the concept has been done over the last decade," says Saloni Nangia, the senior vice president at Technopak.

"Now, meeting or spending time at a coffee shop or seeing coffee shops as an option for a quick bite is very much a part of the consumer's lifestyle in the top 15 to 20 cities. It would percolate further quite steadily as the smaller cities have fewer options currently."

As the trend for coffee shops spreads outside the big cities, it seems Indians of all ages are steadily developing a taste for cappuccinos, macchiatos and espressos instead of their traditional chai.


Source: http://www.thenational.ae/thenationalconversation/industry-insights/retail/india-meets-latte-and-latches-on

Hyundai Motor seeks steelmaking advantage

By: Christian Oliver
Source: http://www.ft.com


Henry Ford’s epiphany came as he sifted through the wreckage of a French sports car at a Florida race track. He extracted a mangled strip of light metal he did not recognise but instantly knew he needed: Vanadium alloy.

At that moment, Ford determined he had to build his own steelworks to produce tailor-made, lightweight metal for his revolutionary Model T, which entered production in 1908.

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In-house steel mills are not a standard feature of the modern auto industry, but one big carmaker is breaking the mould with its own blast furnaces: South Korea’s fast-growing Hyundai Motor Group.

The family-run group comprises units Hyundai Motor, Kia Motors and Hyundai Steel. Chung Mong-koo, the group’s chairman, holds a 13 per cent stake in Hyundai Steel and Kia holds 21 per cent.

The conglomerate’s motive for boosting steel production for Hyundai and Kia – which combined are the world’s fifth largest maker of cars by sales – is the same as Ford’s was a century ago, as it looks to forge special alloys to slash the weight of its cars.

The goal is to reduce weight by 10 per cent by 2015 and in so doing, make its vehicles more fuel-efficient and more attractive to buyers fretting about high fuel prices. Hyundai believes it will also gain a speed advantage in manufacturing by tailoring specialist steels for its own designs, breaking its dependence on traditional suppliers such as Japan’s Nippon Steel and South Korea’s Posco.

“Every major [automobile] manufacturer wants to have steel-making in-house but the investment is just too huge,” Cho Won-suk, Hyundai Steel’s senior executive vice president, told the Financial Times at the company’s steelworks in the west coast port of Dangjin. “Nobody else out there can decide to invest that amount but Hyundai made the decision to enhance quality.”

Currently only India’s Tata Group shares Hyundai’s interest in both steel and cars.

Hyundai Steel has invested $8bn over the past five years in three blast furnaces at Dangjin, each with a capacity of about 4m tonnes per year. Two have come online since 2010. About a quarter of this 8m tonnes is earmarked for Hyundai-Kia, meaning Hyundai Steel supplies 30 per cent of the carmakers’ needs. It wants to raise that to 45 per cent by 2013, when the third furnace comes online.

The steelmaker is now eyeing a move into the ranks of the world’s top 10 producers by tonnage, targeting output of 24m tonnes by 2013, up from last year’s 20m tonnes and just 4.8m tonnes in 1998.

Mr Cho said the furnaces give Hyundai greater flexibility and speed to forge its own advanced high-density steel for specific designs. Giving the YF Sonata sedan as an example, he said Hyundai Motor plans to improve fuel efficiency by making half the parts from the lighter, specialised steel by 2015, more than double the current 20 per cent.

Despite the benefits to Hyundai and Kia from the steel production push, however, the move poses challenges for the Hyundai Motor Group.

Analysts expect Hyundai Steel’s net profit to sag in the near term as global market turmoil undermines the South Korean won, iron ore prices remain high and prices for construction steel fall. These concerns have pushed Hyundai Steel’s share price down 40 per cent since April.

Currency issues are a particular bugbear for Hyundai Steel as it imports raw materials but makes 72 per cent of sales in the domestic market. Last year, net profit fell to Won1,014bn ($900m) from Won1,152bn in 2009. Kim Kyung-joong, analyst at Eugene Securities, predicts a further decline to Won828bn this year.

By contrast, Hyundai Motor last week turned in another solid quarterly performance in spite of global economic uncertainty, reporting a 21 per cent rise in net profit for the July to September quarter from a year earlier to Won1,920bn.

Some stakeholders grumble that the Hyundai companies risk being distracted by the group’s investments in steel and the construction business. They argue Hyundai Motor Group should focus more on cars because a steel mill is also exposed to the battered shipbuilding and construction sectors.

Fears that Hyundai Motor was bulking up excessively in a sector far from its core were kindled by the group’s $4.7bn purchase earlier this year of Hyundai Engineering and Construction.

“It is positive that Hyundai Steel has stable customers in Hyundai and Kia. The whole group can expand fast thanks to the steelmaking unit but it could also have had more room for investment in auto manufacturing if [it] had not moved into steelmaking,” Mr Kim says.

Source: http://www.ft.com/cms/s/0/0f08c6e6-f3ba-11e0-b98c-00144feab49a.html#axzz1dMeaxDya

Canada keen to invest in education, financial services, infrastructure

By: Arun S
Source: http://www.thehindubusinessline.com

Aims to conclude bilateral trade pact talks by 2013, says Trade Minister

Mr Ed Fast, Canada's International Trade Minister, just completed his third visit to India during the last three years – twice as an MP earlier and once (recently from November 3-9) as a Minister.

He said ministerial visits will be more frequent as Canada is steadily increasing its engagements with India.

He spoke to Business Line in Delhi last week on issues including the progress of the India-Canada Comprehensive Economic Partnership Agreement (CEPA) negotiations (Excerpts from the interview).

What do you want to achieve during this trip?

I want to deepen the trade and investment relationship between the two countries. After our government was elected in 2006, we adopted a global commerce strategy with focus on some priority markets, including India.

India, with a market of 1.2 billion consumers, represents a significant opportunity for Canada. India also can benefit from a deeper relationship with Canada.

Our respective Prime Ministers had committed last year to increase bilateral trade from $4.2 billion to $15 billion by 2015. That is ambitious. The current level of trade is modest when you compare India's population and Canada's natural resources and our expertise in areas including life sciences and information and communication technologies.

India's plan to double the number of students attending secondary institutions by 2020 will require construction of a thousand universities and some 50,000-odd colleges. Since Canada is a world leader in education, we can help. Education is a very critical component of what we are seeking to do in India. Canada has a robust auto industry as does India and we want to take advantage of the opportunities that India's new National Manufacturing Policy offers.

When will the CEPA negotiations be concluded and what are the areas of Canada's interest?

The negotiations are making progress. The next round of talks will be in December. We aim to complete the negotiations in 2013. Financial services is a priority area for us and we are looking for broader market access for our agricultural goods, wood products, pulp and paper, fish and sea food, beef and pork as well as progress in terms of Canadian investment in India's infrastructure sector.

Foreign Direct Investment from Canada to India is less compared to Indian investments in Canada. Do you have plans to correct this imbalance?

That is why we are in the throes of completing a Foreign Investment Promotion and Protection Agreement (FIPA). India's business environment, regulatory and legal systems are unfamiliar. Many Canadian companies interested in doing business with India are still overly cautious because of some barriers to investment.

FIPA will have a clear set of rules on making investments and on dispute settlement. We can remove many trade and investment barriers if we complete FIPA and CEPA. These will provide the kind of assurance that our companies need in order to invest in each others' economies.

India has voiced its concern about the Anti-Counterfeiting Trade Agreement (ACTA), saying that it could undermine global rules on intellectual property. Since Canada is a party to ACTA, do you think it will cause problems during the CEPA negotiations, especially concerning generic drugs?

Canada is a party to ACTA because it is very important to us that innovation, research and entrepreneurs are key drivers of our economic growth. If you don't protect these, you are not going to attract the investment to build the kind of innovation and drive economic growth.

I am hopeful that India and Canada will be able to negotiate an acceptable CEPA.

The CEPA's focus is to enable India and Canada to take our trade relationship to a new level. It would be a mistake for me to presume what will be discussed and what directions those negotiations will take.

Can you elaborate on the bilateral talks on the nuclear energy sector?

We have negotiated a nuclear cooperation agreement, and as a last part, many administrative arrangements have to be put in place. There are some wrinkles that need to be ironed out. Canada needs to be satisfied that use of uranium will be done in a safe manner.

We want to make sure that we comply with our non-proliferation agreement internationally. I am hopeful that we will be able to conclude those arrangements very soon.


Source: http://www.thehindubusinessline.com/industry-and-economy/article2612487.ece?homepage=true&ref=wl_home

Rolls Royce speeds up for first 100

By: Cartradeindia Editorial Team
Source: http://www.cartradeindia.com


One of the world's premier luxury car manufacturers, Rolls-Royce has decided to strengthen its operations in India, owing to the rapid growth of the Indian automobile industry. The British car maker has its presence in India for the past 75 years. When it entered the domestic market, back in 1932, the company primarily built aero engines that were first used in Tata Airlines.

Recently, Rolls-Royce Operations India Private Limited was established in Bangalore, amid celebrations of its 50-year-long partnership with Hindustan Aeronautics Limited in 2006. Since its establishment, Rolls-Royce has been inclined towards introducing its luxury cars in India. Rolls-Royce has now decided to expand its operations as well as its product range in India. Currently, the car maker has two dealerships located in Mumbai and Delhi. The company aims to achieve the desired level of expansion by the end of 2011 or early 2012.

For expanding the dealership network, the company has appointed Herfried Hasenoehrl as the Head of Business Development for Rolls-Royce India. He is expected to give new highs to the Rolls-Royce dealership network in the country. In addition, he will be responsible for identifying potential cities for sales of Rolls-Royce products.

Commenting on the new plans, Marketing and Events Manager, Rolls-Royce Asia-Pacific, Dan Balmer said, “Currently, we are in the process of identifying the dealers. We are looking for dealers who have high local connections.” He further added that various cities having the potential of achieving optimum success for the company through dealer network may include Bangalore, Chennai and Hyderabad.

It is important to note that the British car maker has successfully launched two high-end luxury cars namely Rolls-Royce Ghost and Rolls-Royce Phantom in India. The luxury car maker reportedly sold a total number of 70 cars in 2010. The recent reports further suggested that the company has even mulled upon expanding its product division in the coming time. The company has revealed plans of launching the extended wheelbase model of Rolls-Royce Ghost in India, which would cost around Rs. 3.05 Crore.

Corporate Communication Manager at Rolls-Royce, Asia-Pacific division, Hal Serudin said, “With new dealers and new product, the potential market for Rolls Royce is around 100 units this year.”


Rolls-Royce has also confirmed on increasing the capacity size at the Goodwood plant situated in southern England. The company is planning to increase its current capacity size by 2500 sq. m. The company will invest 10 million pounds in its Bespoke division, where the personalised cars are manufactured. This step has been taken due to the increase in demand of vehicles that are equipped with the Bespoke element.

Considering the increasing demand for its cars with Bespoke element, the company has decided to invest 10 million pounds in the Bespoke segments that manufacturer personalised cars.

Hal Serudin also mentioned that, “Out of 10 cars sold in India, about 60-70% have some Bespoke element.” He also stated that the company's plans to expand operations can be attributed to the growing demand in Asia-Pacific countries including India, China, Korea and Singapore. Rolls-Royce has sold about 1,592 units this fiscal year, out of which the sales of the Asia-Pacific countries has increased by 150%.


Source: http://www.cartradeindia.com/car-bike-news/rolls-royce-speeds-up-for-first-100-114798.html

BMW India investment to be Rs. 1.8 billion by 2012 end

By: Rush Lane
Source: http://www.rushlane.com

The BMW Group is increasing their investment in India to Rs. 1.8 billion by 2012 end. Up until, September 2010, the investment in BMW India was Rs. 1.1 billion. BMW has a production plant in Chennai with a production capacity 11,000 each year on a double shift basis, and has being looking at expending their dealership network here.

BMW India looks at providing 650 people employment by 2011 and additional 1200 jobs will be created in the dealer and service network. By 2012 end, the German auto maker looks forward to 40 dealerships pan India in comparison t the current 24 outlets.

Early in 2012, one would get a glimpse of the MINI in India. At last count, BMW India has sold 7252 luxury vehicles. In the Indian car market, BMW offers the 3 Series, 5 Series, 6 Series, and, 7 Series luxury sedan. The BMW X5, X6, Z4, and Gran Turismo are made available here as CBU's (completely built-up units). The BMW X1, and X3 are produced at their Chennai plant. In addition, the BMW M3 Coupé, and, Convertible, M5, M6 Coupé, and, Convertible, X6 M, and 6 Series Individual and 7 Series Individual are made available on order at their dealerships.

Source: http://www.rushlane.com/bmw-india-investment-to-be-rs-1-8-billion-by-2012-end-1221964.html

HP Strengthens SMB Portfolio

By: CRN Network
Source: http://www.crn.in


HP has strengthened its product portfolio and services for the SMB segment, and has unveiled a slew of business notebooks, PCs, work stations, thin clients, retail solutions, and accessories.

The company launched notebooks HP ProBook 5330m and 4230s, HP EliteBook 2560p and 2760p, and docking solutions. In the business desktop PC range, HP has launched the Compaq 4000 Pro Series, Compaq 6200 Pro series, and 8200 Elite series. HP unveiled Z210 Workstation and EliteBook W-series for professionals. It also introduced t5740e thin client, rp5800 retail point-of-sale system, and HP docking station.

“The SMB market continues to be one of the fastest growing segments for us. Out of the $1.1 billion total addressable SMB market that includes hardware, software, and services, we are focused on $715 million, which excludes $385 million from whitebox products. With the help of our expanding channel base in commercial space that includes 157 premium business partners, 245 business partners, more than 1500 registered partners, and service network in 178 cities in India, the new product range will enable us to target SMBs with improved security, reliability, value, and increased ROI on technology investment. We are also tying up with various ISVs in the country who serve to specific requirements of a range of segments including manufacturing, leather, and import and exports to offer customized solutions for SMBs,” said Gurpreet Brar, Director, SMB and Commercial Channel, Personal Systems Group, HP India.

“For the upper mid market customers we offer financing facility, through our HP FS that is our financial arm, directly to the customers. We have also recently initiated a program under which we have select few partners across the country, which we will be financing on behalf of their end-customers in the upper mid market segment. For the small businesses, HP partners help their customers in financing through local financial institutions,” he added.

Reinforcing its focus on SMB segment, HP has also launched an interactive customer-focused Make IT Happen campaign 2011. This platform serves as an online information centre, where SMBs will have access to customer case studies, video streams, product information, and other resources aimed at helping small business owners achieve business results.

“From a customer education perspective, with the Make IT Happen campaign, SMB customers are learning more about the multitude of benefits of technology options available. It is an integrated digital campaign which has been launched in collaboration with Intel Corp and showcase to businesses the value of investing in technology,” said Brar.

Source: http://www.crn.in/Hardware-020Oct011-HP-Strengthens-SMB-Portfolio.aspx

Everything about Dell's BIG plans for India

By: Rediff Business
Source: http://www.rediff.com

He's hardly 15 weeks into his new job as executive vice-president of the applications and business process outsourcing (BPO) division of Dell Services in India, but Suresh Vaswani exudes confidence when talking about his new assignment.

Vaswani - also chairman of Dell India - has to build next-generation service offerings while simultaneously growing Dell's process capabilities across multiple industry verticals and market segments.

"It's early days but you can already sense that the services thrust has become very important to Dell," he asserts.

It's a tall order. Dell, which, according to industry estimates, has a revenue of nearly $2 billion in India, has been historically perceived as a technology company.

Vaswani, however, is no stranger to the services business, having been co-CEO of Wipro's IT business and an executive director on the board of Wipro before taking up this new job.

The shift at Dell took place around three years back, when it announced the acquisition of Perot Systems (rechristened Dell Services) for $3.9 billion, and heralded the company's foray into the services arena which was dominated by rivals IBM and Hewlett Packard (HP).

Till then, the slightly over $60 billion company was primarily known for its personal computer (PC) and hardware prowess, besides being the poster boy for supply chain practices with its direct sales model.

This April, Dell India simply reinforced this thrust on services when it put Vaswani at the helm of affairs of a company that is working hard to convince clients that it's much more than a technology products company.

"We have a leading position in the healthcare segment (because of Perot) and strong in the government and education verticals in the US. We also have a reasonable presence in banking, manufacturing and distribution," points out Vaswani, adding that "going forward, we will also sharpen our focus on applications and the business process outsourcing (BPO) space to give us a complete IT solutions' branding".

To achieve his objectives, the chairman of Dell India has a blueprint that spans across organic and inorganic (acquisitions) growth opportunities besides capitalising on Dell's "existing solutions for clients".

Inorganic growth, for instance, has been one of Dell's major strengths. In the last 12 years, it has made around 20 acquisitions - eight of which were done in the last two years. The names include Perot, KACE Networks, Exanet, Boomi, Compellent, SecureWorks and Force10.

"These acquisitions have been done to acquire technology, and not for market share," adds Vikas Bhonsle, general manager, public & large enterprise business of Dell India.

"We will continue to look at acquisitions in specific verticals. These will include intellectual property or large captive centres of customers. We will do acquisitions to strengthen our presence, especially in applications and BPO. We are looking at India-based global organisations," adds Vaswani.

On the organic front, Dell itself  "is a very large customer" for Vaswani's unit. However, Vaswani is not interested in playing the domestic BPO card.

"India is a strategic market for us, and one of the main reasons is that it is an evolving market for the services business. India also has a very good resource base for us in terms of talent. With a 23,000-member team, it has the second largest workforce of Dell outside the US. For our BPO business, India will continue as a delivery centre for global customers," explains Vaswani.

"Earlier, we had a lot of applications and BPO work in multiple places. These have been consolidated under one entity which has helped us enhance our internal delivery capabilities," says Vaswani who is also creating vertical business units such as healthcare (including consulting), manufacturing, retail, and commercial (including education and governments).

Dell India has also created horizontal capabilities which include Application Development & Maintenance, Application Support, Packaging & Implementation, Business Intelligence and the Global Delivery Model.

"Future delivery models include software as a service and cloud computing," says Vaswani. Cloud computing, he explains, is the "cornerstone" of Dell's strategy. "We have heavily invested in cloud integration capabilities for large and mid-sized companies," he adds.

Strong point

Dell India's services thrust is complementary to its hardware business. "All our clients need technology solutions. And all our solutions are centred at our PC base, workstations, printing etc.," points out Mahesh Bhalla, executive director and general manager for consumer & small medium business (CSMB).

Source: http://www.rediff.com/business/slide-show/slide-show-1-tech-everything-about-dells-big-plans-for-india/20110905.htm