GE Energy Financial Services Makes First Renewable Energy Investment in India

By: Joseph Baker
Source: http://www.energyboom.com

GE Energy Financial Services, a subsidiary of General Electric Company (NYSE: GE), has partnered with India's Greenko Group plc to invest in a new Greenko venture that will bring more wind power to India.

This funding will support the Greenko Wind Project which is set to develop 500 MW of wind projects in India. GE Energy Financial Services has committed $50 million to the project, which marks its first renewable energy investment in one of Asia's wind hotspots.

According to Greenko, there is a surplus of potential wind energy yet to be tapped in India. By the company's estimate,s just 25% of the country's 45,000 MW wind potential has been harnessed.

To this end, Greenko, considered one of the fastest growing clean energy developers in India, is investing $65 million in the new venture. With just 183 MW of operational capacity Greenko, which was formed in 2006, has set big targets, the largest of which may be to reach 1 GW of clean energy assets by 2015. Wind generation will play a big role in meeting this goal. This first round of funding will support the development of just half of the planned 1,000 MW Greenko Wind Project.

Work has already begun on the project's first wind farm. Located in Maharashtra, the Ratnagiriis wind farm, expected to be online in December, will employ GE wind turbines to generate 65 MW.

GE Energy Financial Services is not the only US company investing in India's burgeoning renewable energy market. In July, the Export-Import Bank of the United States committed $25.2 million in loans to support the export of thin-film solar photovoltaic modules from both First Solar Inc. (Nasdaq: FSLR) and Abound Solar Inc. to solar farms in India.

Greenko believes that Indian policymakers are "providing a strong and clear policy framework to support the continued expansion of renewable energy sources."  Last year, in order to support its renewable energy target of 15% by 2020, the Indian government announced plans to add 35 gigawatts of renewable energy by 2015.  Ex-Im Bank expects the country to be its largest market in 2012.

For GE Energy Financial Services this funding announcement builds on a rapidly growing renewable energy portfolio. This news comes just ten days after the company, along with partner NextEra Energy Resources purchased the 550 MW Desert Sunlight Solar Farm in Desert Center, California from First Solar.

Source: http://www.energyboom.com/finance/ge-energy-financial-services-makes-first-renewable-energy-investment-india

Japan's Utena entering Indian market

By: Business Line
Source: www.thehindubusinessline.com

Japanese cosmetics brand Utena is entering the Indian market through a distribution tie-up with Friends & Co., a Delhi-based company. The brand, with its range of skincare and hair care products, will be pitted against major international premium brands such as Body Shop. The brand will be made available in retail chains such as New U and Health & Glow in the metros. —

Source : http://www.thehindubusinessline.com/industry-and-economy/marketing/article2016174.ece

Luxury brands step up India expansion

By: Fashion United
Source: www.fashionunited.in

Luxury brands are finding increasing presence in major cities across India such as Delhi, Mumbai and Bangalore. They also see a huge potential in cities like Pune, Chandigarh, Kolkata, Hyderabad which have a large population with high disposable incomes. By 2020, about 200 stores of Italian luxury brands are likely to come up in India. Some luxury players are already chalking out growth plans in India. For example, DLF Retail and Reliance Brands are in talks with LVMH-owned beauty retailer Sephora. LVMH is already on an expansion spree and has launched a $650 million private equity fund called L Capital Asia dedicated to markets that would primarily deal in consumer brands, lifestyle concepts, beauty and wellness.

Further Louis Vuitton is bringing three premium brands to India, including beauty retail chain Sephora, Singapore fashion company Sincere and Hong Kong-listed Emperor Watch and Jewellery. Sephora has over 250 brands under its umbrella, including Dior, Aquolina, Diesel, Clarins, D&G, Evian and Canali, and is planning to open around 50 stores of Sephora in the next couple of years. Louis Vuitton is also investing $25 million in its brand Charles and Keith in India by opening 40 to 50 new stores. The company is strengthening its presence in India and will spend over $25 million in expanding C&K in Chennai, Kolkata, Bangalore, Lucknow and Ludhiana. Apart from this, Swedish fashion retailer Hennes & Mauritz, American high street casual wear brand Brooks Brothers and Italian luxury apparel player Emilo Pucci are likely to start operations in India soon.

Most international brands seek Indian markets for two reasons. There are numerous languages, cultures, and festivals in India which results in higher consumer spending. India is a country with a fast growing population and a growing number of families with dual incomes. With a drastic increase in disposable incomes it makes business sense to expand in this market. With the fastest growing high net worth individual population, and with an anticipated increase in the level of population in the coming years, India is poised to transform into a major hub for international luxury brands in the next three to four years.

http://www.fashionunited.in/news/apparel/luxury-brands-step-up-india-expansion-280920112547

GE appliances to launch wide range of kitchen appliances

By: Vijay C Roy
Source: www.business-standard.com

Buoyed by the response from Indian market for its Refrigerators, Washing machine, and Split AC’s, Appliances maker-GE Appliances would soon launch wide range of kitchen appliances such as hoods, burners, electric ovens & cook tops, dish washers and exciting range of front loading washing machines to expand its product portfolio.

Speaking to Business Standard, GE Appliances & Lighting, President & CEO, Himamshu V Prasad said, " In order to expand our market share we are planning to expand our product portfolio. Currently we are selling refrigerators, washing machine, split AC etc in the Indian market and further has plans to launch wide range of kitchen appliances such as hoods, burners, electric ovens & cook tops, dish washers and exciting range of front loading washing machines."

“Secondly, we are also looking at localization of parts which can be manufactured in India. This would help us in making the product competitive,” he added. At present the company is importing its appliances from its manufacturing plant in Mexico.

On being about whether the company has plans to manufacture home appliances in India in its upcoming facility in Pune, he added, “It is too early to say, but in near future we may look for manufacturing these appliances. If we see the economies of scale then it can be worked out”.

It is worth mentioning that company is investing Rs 1000 crore in a new technology development-cum-manufacturing facility at Chakan near Pune. Initially, it is planning make healthcare equipment, lighting solutions, aviation parts etc mainly for the Indian market.

Meanwhile the company launched its First GE Experience Center in North India and has plans to open five by the end of this fiscal year. Mainly the story would be opened in Delhi, Jaipur, Lucknow, Jalandhar etc. Delhi-based Shelka Marketing is company’s distributors for North India in June 2010. Shelka is glad to open GE Experience Center wherein Refrigerators, Washing Machines & Dryers and Split Air Conditioners are on display. Refrigerators, Washing Machines & Dryers are authentic American style products and imported from GE factories at Mexico. Shelka team is fully trained for installation and servicing of these products.

It is worth mentioning that GE Appliances & Lighting spans the globe as an industry leader in major appliances, lighting, systems and services for commercial, industrial and residential use..

Source: http://www.business-standard.com/india/news/ge-appliances-to-launch-wide-rangekitchen-appliances/451575/

Global Schools plans to start 25 schools in India

By: Mahima Puri
Source: http://articles.economictimes.indiatimes.com

Singapore-based Global Schools Foundation plans to start 25 schools in India over the next five years. The foundation, which owns and operates Global Indian International Schools (GIIS) and Global School of Silicon Valley (GSSV) across eight countries, will invest more than 300 crore to start schools in India.

In the first phase, schools in India will be spread across 12 destinations that include cities like Noida, Bangalore, Indore, Ahmedabad, Hyderabad and Surat. The schools will offer kindergarten to class 12 education and will offer curriculums such as CBSE, IB, ICSE and IGCSE, depending on the location.

The first school to start operations in the country will be the one in Noida in April 2012, for which admissions have already began. It's a two-acre campus in the heart of the city, says Atul Temurnikar, chairman and co-founder of GSF. The tuition fees, he adds, would be anywhere between 40,000 and 90,000, depending upon the city, while the admission fees will range between 45,000 and 90,000. GSF is investing nearly 35 crore in establishing the Noida campus, he adds.

The foundation also plans to open 25 more schools across countries in the Middle East, South East Asia, India, Korea and China. Among the countries where GIIS already operates are Singapore, Thailand, Vietnam, Japan, Malaysia, UAE and the US. For its expansion in India and in other countries, GSF will invest about $500 million.

On why the foundation decided to establish schools in India, after 10 years of operations, Temurnikar says the foundation was busy establishing and managing schools abroad. The foundation was started in 2002 to provide quality education to Indian students, whose parents are settled abroad. It opened its first school in Singapore. The foundation's international and advisory board comprises, among others, Infosys chief mentor NR Narayana Murthy and former Indian union minister Karan Singh.

Source: http://articles.economictimes.indiatimes.com/2011-09-20/news/30180174_1_global-indian-international-schools-giis-offer-kindergarten

Yum! eyes $1 billion revenues in India by 2015

By: Shailaja Sharma
Source: www.dnaindia.com

Niren Chaudhary, managing director, Yum! Restaurants India, a wholly owned subsidiary of US-based fast food restaurant company Yum! Brands Inc that owns food chains KFC, Pizza Hut, A&W, Long John Silver and Taco Bell, says by 2015 the Indian unit will make an impact at the global level by opening 1,000 outlets and $1 billion in revenues. Chaudhary who has been at Yum! for over a decade, working across markets like Netherlands and Germany, spoke to DNA on the sidelines of India Retail Forum held in Mumbai on Wednesday.

Excerpts:

How are you battling heightened food costs? Consumer wallets are pressurised by high food prices too. Do you see them cutting on consumption or spending?
In India, even though you have commodity inflation, wages too are rising. Wage inflation is higher than commodity inflation which in turn helps the consumers earn more as the prices go up. Thus, we don’t see any impact on our sales. Whenever there is high inflation, we try and cover the impact as much as we can by productivity improvement. If it is not possible, we pass on some cost to consumers, but even that price increase is of insignificant nature.

You have recently been trying to recruit consumers through popular price points..
Yes, we launched Streetwise range that is targeted at the college students, where they can access KFC products at college canteen prices. And every year we will bring in new products in that range that will be priced between Rs25 and Rs100.

What expectations does the parent company have from the Indian unit?
They (parent) are very bullish on India; they think India can be the next China in terms of the number of outlets that we have in China. In China we have 10 times the number of outlets that we have in India. India’s contribution to our global business today is miniscule, but it is growing very fast. India is still about four years away from being a meaningful contributor.

Any plans to go in for an IPO?
No, because we want to stay as an American company as we are listed on the American Stock Exchange. And as we are very well capatalised, we have access to a lot of funds.

When do you plan to introduce newer restaurant formats like Long John Silver in India?
We are actually very busy with Pizza Hut, KFC, and delivery service Pizza Hut Delivery. We want this business to become 1,000 restaurants first and $1 billion in sales by 2015, which is a gigantic task. We will invest $150 million during this period. We currently serve 20,000 people and want to reach to 50,000 people in another four years. We are targeting to have a total of approximately 400 restaurants across Pizza Hut and KFC brands by the end of this year (the company reports its financial year from December-November).

If you are compared with the scale of competitor McDonald’s in India, where do you view yourself?
We are the fastest growing food brand in India. This year alone we will add another 100 restaurants across our brands KFC, Pizza Hut and Pizza Hut Delivery. And we are growing much faster than the competition now.

What have been your investments this year for opening these 100 outlets?
The company Yum! will be investing around $25 million by November 2011. This is separate from the investments made by our franchisees. We have already opened 50 food chains and the remaining 50 will be opened in the next two months. Next year we will launch another 150 outlets.

How much of a focus is on R&D for developing products specific to Indian palette?
We have a dedicated innovation centre in India based in Gurgaon. And there we have own our R&D kitchens for Pizza Hut, KFC and Taco Bell, where we keep making and trying different types of food.

And what have you understood of the Indian consumers’ taste preference?
I think the Indian consumers like good flavour. And they like their food spicy and hot. Health is another important aspect and we are going to be launching in KFC in a few months, non-fried, grilled chicken.

You have several franchisees. Any plans to consolidate to fewer but larger partners?
We have a total of 15 franchisees in India of which three are very big — Devyani International (for North and East), Dodasan Enterprise (for West) and KFC Malaysia; and we are very happy with the arrangement. We are not looking for new partners.

Source: http://www.dnaindia.com/money/interview_yum-eyes-1-billion-revenues-in-india-by-2015_1590829

Nexteer Automotive investing $30 million in India

By: Kathryn Lynch-Morin
Source: www.mlive.com

Nexteer Automotive on Wednesday announced it would invest $30 million to expand its presence in India with a new manufacturing facility.

The company, based in Saginaw County's Buena Vista Township, said the investment is due to growing customer demand in the region. Once it's built, the new Indian facility will cover 75,000-square-feet and employ 150 people. Nexteer already employs 600 people at two facilities in the country.

Nexteer's half shaft, pump and steering gears will be produced there.

"This investment in India will position Nexteer to become the leading supplier in the region," Robert J. Remenar, president and chief executive officer of Nexteer said in a release. "While committed to our mature markets, a crucial part of Nexteer's global growth strategy is focused on emerging markets supporting both global and regional customers."

In 2011 alone, the company has announced expansions in Poland and Brazil.

Source: http://www.mlive.com/business/mid-michigan/index.ssf/2011/09/nexteer_automotive_investing_3.html

CTC to invest 2 mn Canadian dollars in India for promotional activities this year

By: P Krishna Kumar
Source : http://www.travelbizmonitor.com

Canada Tourism Commission (CTC) will soon launch direct consumer marketing campaigns in the Indian market. This will be done through various online and print advertisements using the Canadian Tourism’s brand Ambassador for India, cine star Akshay Kumar. Revealing this on the sidelines of the announcement of the release of Akshay Kumar’s new international production, Speedy King, the first international production by Akshay Kumar which is completely shot in Canada, Derek Galpin, Managing Director-India and China, CTC, said that this campaign will be launched in the next two to three months.

“CTC did not have the funding to venture into direct consumer campaigns so far. We have been doing more of co-advertisements with select tour operators in the Indian market. However, with enough funding coming our way CTC will now launch direct consumer campaigns. We will also continue with the joint advertising with tour operators. Tour operators are quite influential here, hence we will continue with the joint promotions,” stated Galpin. He informed that CTC will be investing about two million Canadian dollars in the India market for promotional activities this year.

When asked about the direct consumer campaigns, Galpin said that the campaigns will be designed to showcase the unique experiences and activities one can have in Canada. “The objective is to create awareness about the destination that can ultimately drive more people to opt for Canada as their holiday destination,” he said. Galpin further added that CTC has launched a similar campaign in China and evoked good response from the market.

Responding to the question as to the response so far after opening a representative office almost two years ago, Galpin said that it has been good and Canada has come up as an independent destination for Indian travellers. “Earlier, Canada was clubbed with the US packages by the trade. But the situation has changed in the last two years,” Galpin said. He informed that about 1.30 lakh Indians visited Canada last year, registering an increase of 15 per cent. “CTC hopes a similar growth in 2011 as well,” stated Galpin.

Source: http://www.travelbizmonitor.com/ctc-to-invest-2-mn-canadian-dollars-in-india-for-promotional-activities-this-year-14525

Honda Starts Building Third Two-Wheeler Plant in India

By: Nikhil Gulati
Source: http://online.wsj.com

NEW DELHI – Honda Motor Co.'s India two-wheeler unit Thursday started construction of its third factory, near Bangalore in southern India's Karnataka state, where it is investing 10 billion rupees ($205 million).

Honda Motorcycle & Scooter India Pvt. Ltd. will start production at the new factory by the first half of 2013, the company said in a statement.

The plant will have a capacity of 1.2 million scooters and motorcycles a year and will employ 3,000 people, the company said.

Honda Motorcycle has a factory in Manesar in northern India's Haryana state and a second in Tapukara in the northwestern state of Rajasthan. The combined capacity of the two plants is 2.2 million units a year, which will be raised to 2.8 million units by March next year.

The third factory will raise Honda Motorcycle's overall capacity to 4.0 million two-wheelers a year.

Honda Motorcycle's move to rapidly expand production is in line with its aim to surpass Hero MotoCorp Ltd. and become India's biggest two-wheeler maker within a decade.

Source: http://online.wsj.com/article/SB10001424052970204138204576600281558394512.html

Indonesian noodle to enter Kerala

By: The Times Of India
Source: http://timesofindia.indiatimes.com

Following in the footsteps of major noodle brands from China, Thailand and Malaysia, popular Indonesian instant noodles brand 'Indomie' will soon be launched in India by a Kerala-based businessman.

Dicky Fabrian, consul and head of chancery at the Consulate General of Indonesia, said, "I want our noodles to hit the market as soon as possible." Fabrian was accompanying Indra Kesuma Oesman, consul-general of Indonesia. Raoof Ali of Kochi-based Precept Mercantile is planning to launch the 'Indomie' brand in Kerala.

"After attending the Trade Expo Indonesia 2011 scheduled this month, we will launch the brand," Raoof said. He has had a business connection with Indonesia for the past six years.

Speaking on Indo-Indonesian bilateral trade, Dicky Fabrian said it has grown 250% from 2005 to 2010. "In 2005, our bilateral trade stood at $5.4 billion, and reached $13.5 billion in 2010," Fabrian highlights the growth in the trade relationship. "This growth should be attributed to the new strategic plan the two countries have entered into to increase bilateral trade. Our target for 2015 is $20 billion," he adds.

Currently, there are Kerala based importers who source spices from Indonesia. On the other hand, there are Indonesian companies investing in India too. For example, chicken stock producer Japfa Confed has set up a factory in Pune with a staff strength of 1200 people.

Source: http://timesofindia.indiatimes.com/city/kochi/Indonesian-noodle-to-enter-Kerala/articleshow/10297021.cms

US to invest in Indian infrastructure, defense and education sectors

By: Jeanne Shaheen
Source: http://articles.economictimes.indiatimes.com

NEW DELHI: US companies are looking at investing in sectors like energy, education, communications and infrastructure in India, thererby further deepening economic ties between the two countries.

"We are looking for markets (in India), partners so that we can have a win-win kind of relationship between India and US," an adviser to US Senator Jeanne Shaheen said here.

Chad Kreikemeier, who is leading a 13-member trade mission to India, said the two nations "have got to widen their range from energy, education, infrastructure to defense market".

The delegation comprises eight firms and educational institutions, including representatives from the Dartmouth College from New Hampshire.

"We sat down with senior officials from DRDO, Ministry of New and Renewable Energy and Ministry of HRD to hear their views on the ways to increase trade relations, seeking advice ..." Kreikemeier, who is a trade and foreign policy adviser to Shaheen, said.

He was speaking at a business meeting organised by Indo-American Chamber of Commerce.

He said the US finds enough potential in India as it is an "absolute market" and would expand its infrastructure in next five years.

On increasing commodity specific exports from New Hampshire, he said India is the 28th largest market for goods -- ranging from hi-tech products, computers, circuits to education -- from the state.

The delegation is also wooing Indian students to study in New Hampshire universities, he said.

New Hampshire, located in north-eastern US, is home to many industries in sectors like electronic and medical products besides travel and tourism.

Source: http://www.blogger.com/blogger.g?blogID=6269059779339500306#editor

Sanofi keen to boost India presence, to invest $300m

By: Trushna Udgirkar
Source: www.mydigitalfc.com

French pharma major Sanofi is keen to boost its presence in India, after having acquired Shantha Biotech a couple of years ago, by investing around $300 million over the next three years. The company would set up a new vaccine manufacturing unit, which would be its largest unit globally.

“Shantha is very much in line with our strategy to ramp up sales in emerging markets. We are investing as much in R&D as in manufacturing and will set up a vaccine manufacturing facility close to the existing one. Even after the acquisition, we will spend $300 million over a three-year period to make a strong platform,” said Christopher A Viehbacher, CEO of Sanofi.

With this, the company hopes to get easy access to emerging markets. “Shantha hits two of our growth platforms, vaccines and emerging markets. Vaccine is the best place in the absolute healthcare sector, especially in an environment with resource constraints. There is no better investment you can make in healthcare than in prevention,” he said.

On R&D with Shantha, he said there are a host of other vaccines in the pipeline, which Sanofi did not have, such as HPV vaccine for cholera and cancer. “There is a higher predictability of success in biotech compared with small molecules. Also, as side-effects are lowered, rask is dropped too. I would say if a molecule has 20–30 per cent probability, a vaccine has 70-75 per cent,” he said.

Sanofi had faced a set of challenges when Shantha’s combination vaccine Shan5’s pre-qualification was cancelled by the World Health Organisation. However, Viehbancher last week said when WHO was in the country for inspection of manufacturing facilities, it also provided a pre-qualification nod for the vaccine, along with vaccines for Cholera and Tetanus and start with clinical trials.

The newer facility may help the company raise manufacturing from 5 million doses to 50 millon.

Source: http://www.mydigitalfc.com/news/sanofi-keen-boost-india-presence-invest-300m-296

New life style automobiles to be launched in India in the range of Rs 75 lakh to Rs 2 crore

By: The Editor
Source: www.wheelsunplugged.com/

While the Caravans or moving homes are a common concept in the west, it is relatively unknown in the Indian automobile market. It has been reported that Pilote, a French company which came into existence in the year 1962, and produced the first Caravan will introduce the first life style automobiles in India. For nearly 50 years, Pilote has been a brand producing leisure vehicles combined with expertise and customer services. Technology, quality, style, security, innovation, finish and comfort are the key words in the motor home industry.

In the year 2010, Mega Motoren & Lifestyles Pvt Ltd (officially known as Pilote India) secured the exclusive distribution rights of Pilote products and also made the history by starting off the very first luxury motor homes business into India. Pilote India has pioneered into a kind of business that was awaited into a country like India. It is targeted at people looking for comfort and top of the range equipment. Motor homes, as they are called, are entering the Indian market under the chassis brand of Mercedes and Fiat. Manufactured in France, it will be customized as per individual needs and then imported by the company. However, service station as per the international standards is being set up in India.

The models entering India depends entirely on the preference of the client. Over all there are total 50 configurations available. All the vehicles will be right hand drive models with 3.0L engine (Fiat/Mercedes). The first assignment of Motor Homes entering India consists of 3 X FIAT Aventura P 730 LCA and 1 X Merc Explorateur G783 LCE and 1 X Merc Explorateur G 743 LCE, 1 X FIAT Aventura P 730 LCA.

The motor home will start from 6 meters (length) and will go up to 8.59 meters. The price range of the different models that would be available in India will range between Rs 75 lakh to Rs 2 crore.

Read more: New life style automobiles to be launched in India in the range of Rs 75 lakh to Rs 2 crore | WheelsUnplugged
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Source: http://www.wheelsunplugged.com/ViewNews.aspx?newsid=11232

Oman, India seek ways to promote economic relations

By: Observer

Source: http://main.omanobserver.om/

MUSCAT — The Oman Chamber of Commerce and Industry (OCCI), acting in collaboration with the Indian embassy and Federation of Indian Chambers of Commerce and Industry (FICCI), organised here yesterday a seminar during which they sought ways to boost economic relations with a view to realising the expectations of their peoples, taking into consideration that India is a major economic market.

The meeting was presided over by OCCI Chairman Khalil bin Abdullah al Khonji, in the presence of Anil Wadhwa, the Indian Ambassador to the Sultanate, and the FICCI International Relations Director.

During the seminar, Pankaj Khimji, head of the Omani side in the Oman-India Business Council, spoke about the geographical and demographical nature of the Sultanate, as well as the developed infrastructure which furnishes a suitable environment for economic and investment enterprises.

Khimji added that most of Oman’s industrial and economic sectors, topped by the oil sector, have achieved remarkable growth in recent years.

He added that the coming stage will witness continuous economic growth as the Sultanate intends to assign RO 943 million for oil production development and RO 10 billion for tourism development, in addition to other infrastructure projects.

Khimji also indicated to the significance of the Sultanate’s industrial estates, particularly Sohar 1316620994292638900 Port Industrial Estate that provides huge capabilities for investment that would help in developing the trade ties with India.

The seminar also included a presentation about Shipyards, a company that is specialised in shipbuilding and transport.

The presentation was presented by the company manager who gave a brief speech about the shipbuilding latest technology and the flexibility in finalising the shipping and handling operations in accordance with the latest certified standards in this field.

Bilateral meetings were held between the businessmen from the two sides that focused on identifying the facilities and opportunities provided by each business sector, as well as discussing the ways of holding the bilateral agreements and entering into new investments in the two countries. — ONA

Source: http://main.omanobserver.om/node/65794

Huawei enters enterprise business solutions market

By: The Hindu

Source: www.thehindu.com

Huawei on Wednesday announced its entry into the enterprise business solutions market in India that would provide solutions for IP, communications and technology, and IT businesses and services. The Chinese information and communication technology (ICT) major also introduced its telepresence services (real-time video conferencing) and announced plans to hire 400 employees for the new business segment by this year-end.

Stating that Huawei's enterprise business was targeting $15 billion revenue globally by 2015, Huawei India President (Enterprise Business) Eric Yu said: “The enterprise business is becoming increasingly important here in India…Huawei's new enterprise products coincides with the growing willingness of enterprises to set up next-generation ICT architecture. We will target sectors such as transport, energy, telecom and finance, and continue to develop innovative enterprise networking products and solutions”.

Enterprise business contributed over $2 billion (7 per cent) to Huawei's global turnover in 2010, which is likely to go up to $4 billion by this year-end.

For Huawei, which has made deep inroads into the Indian telecom sector in the last few years, entering the enterprise business market is a strategic move aimed at catering to the Indian ICT sector as a whole.

“The emergence of cloud computing and the convergence of ICT has transformed the entire industry.

“his transformation and the parallel foray in to the enterprise business have offered Huawei unprecedented new opportunities and will provide enormous room for our strategic growth,” Mr. Yu said.

Similarly, the Chinese firm is banking on its high-definition telepresence services to boost its business in India. “We have now developed the telepresence video conferencing unit which can fundamentally change the board room meeting culture. It has been designed to include powerful processing capabilities to render the best possible audio and video as well as state-of-the-art reliability, security, and cost effective technologies,” Mr. Yu added.

Source: http://www.thehindu.com/business/article2494263.ece