Search Result for : Indian Market

100 years for BMW Group means 100 years of forward thinking, Vikram Pahwa

By Sheela Mamidenna The youngest of the German cars in India, BMW, is fighting back to reclaim its leadership position in India. With its new Indian President and the company’s ‘power to lead’ strategy, BMW India recently launched the newest version of its luxury sedan, the 5 series, on June 29. Locally produced at the BMW Plant Chennai, the all-new BMW 5 Series will be available in diesel and petrol variants at all BMW dealerships across India from 1 July 2017 onwards. With the official implementation of GST on July 1, BMW is hopeful that it will make a strong comeback in India in a segment that accounts for less than 2% in the passenger vehicle market. With BMW, MINI and Motorrad, the BMW ...

Mumbai and Delhi rank as 5th and 6th largest cities in Asia with a combined GDP of over $400 bn: JLL Global 300 Rankings

The Dollar Business Bureau A total of nine Indian cities figure on the latest edition of ‘Global 300’ cities – the annual JLL ranking exercise, which represents 300 major cities that are the focus of commercial activity and interest, 40% of the world’s economy, and three-quarters of global real estate investment according to Ramesh Nair, CEO & Country Head, JLL India. In an ever-changing world, more urban centres in India are rapidly emerging as players on the global stage – moving beyond the powerhouses of Mumbai, Delhi and Bangalore. While the megacities of Delhi and Mumbai rank in the ‘Global Top 30’ – thanks largely to their huge scale, other cities such as Bangalore, Chennai and Kolkata sit within the ‘Global Top 100’ – ...

India to halt imports of Chinese apples and pears after they fail pesticide tests

The Dollar Business Bureau India has issued a directive to halt the imports of Chinese apples and pears from June 1. According to a statement made by the Ministry of Agriculture, the recent imports of Chinese apples and pears contained harmful microorganisms. Indian National Plant Protection Organization (NPPO) reported that 26 batches of Chinese pears and apples were contaminated and the same was conveyed to the Chinese Inspection and Quarantine Bureau on May 31. A second batch of apples and pears from China once again revealed harmful microorganisms. Since no action was taken to remedy the situation, the Indian government decided to temporarily halt the import of apples and pears from that country starting from June. NPPO revealed the presence of  Pseudococcus Comstocki ...

We want to increase our penetration into neighbouring countries: Zen Mobile

Interview by Manishika Miglani India has several domestic mobile brands which are trying to compete with the international companies flooding the handset market in the country. Zen Mobile is one such home-grown mobile manufacturer which is a pioneer in bringing affordable devices to the Indian shores while currently holding 4-5% market share in the feature phone segment. In an interview with The Dollar Business, Sanjay Kalirona, Chief Executive Officer, Zen Mobile, talks about the expansion plans of the company including its vision to start exporting and consolidating the 4G product portfolio. TDB: Zen Mobile currently has a 4-5% market share in feature phones in the Indian market. What is your growth forecast for 2017-18 in terms of expanding this share? Sanjay Kalirona (SK): We are growing at a fast ...

Softbank to invest fresh capital in Indian cab service Ola

The Dollar Business Bureau After Flipkart roped in $1.4 billion funding from a consortium of private investors recently (eBay, Microsoft, and Tencent), Ola is the second struggling home-grown new-generation startup to avail a fresh capital of $250 million - $300 million from Japanese telecom major Softbank this year. As revealed by the filings in Registrar of companies, SIMI Pacific Pte, Softbank's subsidiary, has bought 12,97,945 shares at a premium of Rs 12,895 in ANI Technologies, the parent company of Ola. Struggling to overcome severe competition from American cab service provider Uber, market leader Ola's story is not very different from the face-off between Flipkart and Amazon. But the similarities between the two cases extend beyond the market dynamics, to include the involvement of the same global mega-investor Softbank. The Japanese backer of Ola, after ...

Volkswagen eyes SUV segment in India, to launch Tiguan this year

The Dollar Business BureauAutomobile major Volkswagen is planning to strengthen its SUV segment with the launch of its premium model Tiguan in India. The world's largest car manufacturer looks to scale up its presence in the Indian market. It is reintroducing its premium sedan Passat this year, in addition to its newly unveiled performance-oriented hatchback GTI. The company in one of its recent announcements said it is eyeing at positioning itself as an "accessible premium car brand" in the world’s fourth-largest automobile market. "Tiguan as our first premium SUV, comes into an area where we see more and more people investing in such cars. That will be the first step for us into that domain of SUVs," said Michael Mayer, Volkswagen Group ...

India has 15 lakh POS machines; but market as big as 5 crore: Paynear

Sneha Gilada Demonetisation has created the need for a shift to digital transactions, its surprise element depriving cash of the security and confidence it once enjoyed as a legal tender. Fintech startups have drawn enormous benefits from the Centre's mission of less-cash India. One such startup is Paynear that offers a one-stop affordable solution for vendors who want to accept payments digitally. Dearth of POS manufacturers in India has led to Indian POS device sellers like Paynear importing the hardware from countries like China. The recent exemption in custom duties on these devices, until the end of March 2017, has led to pricing benefits and subsequent burgeoning of demand. But there are concerns regarding such a measure proving detrimental to 'Make in India', in the long run. Currently, India, with a deployment of only 15 lakh POS machines, ...

TVS Group to invest Rs. 750 cr in India, US

The Dollar Business Bureau TVS Group flagship Sundaram-Clayton Ltd. (SCL) on Thursday announced it will invest about Rs.750 crore to establish its first overseas plant in the US as well as expand its facilities in India. The leading manufacturer and supplier of aluminium products will invest Rs.400 crore over the next three years in the Indian market to cater to the multifold growth of this segment in the market. The company’s investment in India would enhance its domestic production capacity to 70,000 MT from the current 60,000 MT. SCL has four manufacturing facilities across the country. The company has planned to invest $50 million (about Rs.350 crore) to establish a plant in the US. Its US facility will be set up on a 50-acre ...