India: German washing machines… from Chennai
Chennai has received a powerful boost to its claims to be one of India’s most important industrial centres with Germany’s Bosch and Siemens Home Appliances Group (BSH) choosing the city for its Indian first production plant. Continue reading »
Ranbaxy: losses, again
Shares in Indian generic drugs group Ranbaxy Laboratories dropped 4.2 per cent on Wednesday to Rs399.20, having lost 4 per cent in the previous session, after the company posted disappointing financial results.
The numbers caused analysts to question the company’s expenses and launch of new drugs, given the performance. Continue reading »
India’s IT industry turns east
Despite the threat of fierce protectionism, challenging cultural barriers and major linguistic hurdles, the giants of Indian IT are looking to break into China’s previously closed software and outsourcing industry. Continue reading »
India: weak industrial output boosts rate cut hopes
The surprise decline in India’s industrial output in November, disclosed in figures published on Friday, was largely due to the Diwali holiday, when many businesses close for days.
Industrial production fell 0.1 per cent in November year-on-year basis, in stark contrast to revised growth of 8.3 per cent in October – when the figure was boosted by the fact that in 2011, Diwali fell in October.
But forget holidays. The real story is that IP has grown in just three of the last eight months. The pressure to cut interest rates is getting stronger. Continue reading »
India: emerging cities
India’s established metropolises are saturated with investment activity. Now, tier-two and tier-three cities are emerging as investment destinations and a new report from Cushman and Wakefield explains how much money is going into what – and where. Continue reading »
India industry reluctant to spend
If any further evidence were needed that the Indian economy is struggling mightily, the Reserve Bank of India’s September bulletin provided it. On Wednesday, the RBI said Indian companies had dramatically curtailed their plans to raise funds, and are more wary to invest now than they have been in the recent past.
The RBI found 668 projects amounting to Rs2.1tn ($38bn) in the fiscal year ended in March. That’s nearly half as much as the the Rs3.9tn spent on 710 projects the previous year. The projects are sanctioned by foreign institutional investors or banks. Continue reading »
India industrial growth flat in July
At least it didn’t contract. That’s about the best that could be said about Indian industrial production figures released Wednesday, which showed that industry had grown just 0.1 per cent in July. It was only the second positive print in the past five months.
That’s better than June’s 1.8 per cent contraction but does nothing to change the generally weak picture of the Indian economy – which grew just 5.5 per cent in the June quarter – or the likely decision by the Reserve Bank of India to pause on interest rates when it meets on Monday, economists said. Continue reading »
[video] India’s manufacturing hub
In the city of Pune, about four hours from Mumbai, there is a thriving manufacturing hub thanks to a cluster of car manufacturers. The FT’s James Crabtree asks what India needs to do to replicate this success in other cities.
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