India | CHINDIA ALERT: You'll be living in their world, very soon

12/02/2014

* H&M to open first store in India in 2014 | Reuters

Hennes & Mauritz will open its first store in India this year, it said on Wednesday, as the world’s second-biggest fashion retailer becomes the latest to take advantage of the opening of Asia’s third-largest economy to foreign operators.

H&M, which said last year it plans to spend around 100 million euros ($137 million) on an initial 50 stores in India, received final approval in December from the Indian government to invest in the country.

“We are very excited to open our first store in India. It is one of the most exciting countries in the world right now, with so much potential,” H&M CEO Karl-Johan Persson said in a statement.

via H&M to open first store in India in 2014 | Reuters.

Posted in Economics, India alert, liberalisation | Leave a Comment »

Tags: Asia, Government, H&M, Hennes & Mauritz, India, Karl-Johan Persson, Reuters, stores in India

11/02/2014

Rail budget: Mallikarjun Kharge likely to announce more trains, new lines – The Times of India

Faced with a revenue shortfall, railway minister Mallikarjun Kharge will not bring about reduction in basic passenger fares in the interim budget on Wednesday but is likely to make adjustment in fuel adjustment component so that impact on fares is minimum in an election year.

Kharge is likely to announce more trains, new lines and better passenger amenities in the interim budget.

Railway ministry sources said it will be a growth-oriented budget and not a deficit one despite fall in earnings.

via Rail budget: Mallikarjun Kharge likely to announce more trains, new lines – The Times of India.

Posted in Economics, Investment in tangibles, railways | Leave a Comment »

Tags: Bangalore, India, interim budget, Kharge, Mallikarjun Kharge, passenger amenities, passenger fares, Rail, Rail transport, Recreation

11/02/2014

India to Fight U.S. Solar Protectionism Charge as Ties Fray (1) – Businessweek

India will dispute a U.S. complaint at the World Trade Organization that it unlawfully restricts imports of solar equipment, saying American panel makers such as First Solar Inc. (FSLR:US) have access to most of its market.

“We will give a reply,” Tarun Kapoor, joint secretary at the Ministry of New and Renewable Energy, said in a phone interview. “Most solar projects in India are allowed to import. We have sufficient quantities open for competition.”

India required about 10 percent of new photovoltaic projects permitted in the past year to use domestically made solar cells and modules. The rule violates international trade law and raises the cost of solar energy, U.S. Trade Representative Michael Froman said yesterday in a statement.

via India to Fight U.S. Solar Protectionism Charge as Ties Fray (1) – Businessweek.

Posted in Economics, India alert, Politics | Leave a Comment »

Tags: First Solar, First Solar Inc., India, Ministry of New and Renewable Energy (India), Office of the United States Trade Representative, projects in India, Solar cell, solar equipment, Tarun Kapoor, the Ministry of New and Renewable Energy, U.S., United States, World Trade Organization

11/02/2014

Boeing to Raise India Plane Demand Forecast Amid Surge in Travel – Businessweek

Boeing Co. (BA:US) is set to raise its India market forecast as the planemaker expects surging travel demand in the world’s second-most populous nation to withstand a slowdown in economic growth and a fall in rupee.

Jet Airways Boeing 737

Boeing will increase its prediction for India plane demand in the next couple of months, Dinesh Keskar, a senior vice president at the Chicago-based company, said in an interview to Bloomberg Television’s Haslinda Amin in Singapore today.

The planemaker in 2012 raised its 20-year India market forecast by 9.8 percent, at least the third increase in a row. Carriers in the Asian nation will need 1,450 new aircraft, worth $175 billion over the next two decades, it said last year.

via Boeing to Raise India Plane Demand Forecast Amid Surge in Travel – Businessweek.

Posted in aviation, Economics, Good news, India alert | Leave a Comment »

Tags: $175 billion, Boeing, Boeing Co., Chicago, Dinesh Keskar, Economic growth, Haslinda Amin, India, India market, populous nation, senior vice president, Singapore

11/02/2014

Indian Election Not a ‘Game Changer’ – India Real Time – WSJ

A new Moody’s report argues that the biggest event on India’s political calendar this year will be neutral at best for the country’s creditworthiness—although, at worst, it could heighten existing risks.

India’s national election, due before the end of May, is dominating the country’s newsstands, and has put a freeze on many major policy and investment decisions. Perceptions that the Bharatiya Janata Party’s popular prime ministerial candidate, Narendra Modi, is pro-business have buoyed Indian stock markets even as corporate earnings have disappointed.

But the New York-based credit-ratings agency says the contest between the governing Congress party and the BJP will hardly be decisive for India’s economic prospects.

A strong showing by either of the two major parties “would not be a near-term game changer,” it says in the report. The correlation between economic performance and the party in power is historically quite weak, it notes. What could be a bigger influence is the state of the global economy. Factors such as the budding recovery in the U.S. and Europe, the shaky economic outlook in China, and the Federal Reserve’s withdrawal of monetary stimulus will continue to buffet India and many other big emerging markets.

via Indian Election Not a ‘Game Changer’ – India Real Time – WSJ.

Posted in Elections, India alert, Internal politics, Politics | Leave a Comment »

Tags: Bharatiya Janata Party, China, Credit risk, Federal Reserve System, India, Indian National Congress, Moody's Investors Service, Narendra Modi

11/02/2014

UPDATE 4-Olympics-India returns to the Games as IOC lifts ban | Reuters

India has returned to the Olympic fold after the IOC lifted a ban on the country’s Olympic association on Tuesday, and its athletes will now be able to march behind the Indian flag at the closing ceremony of the Sochi Winter Games.

The country’s athletes have been competing in Russia under the Olympic flag due to the suspension, imposed after it held a 2012 Indian Olympic Association (IOA) election in which a corruption-tainted official was voted in as secretary general.

“It is the first time in Olympic history that a suspension of a National Olympic Committee has been lifted during the Games,” International Olympic Committee spokesman Mark Adams told reporters.

He said the IOC had discussed the matter early on Tuesday and ruled that elections held on Sunday had fulfilled all criteria for the country’s immediate reinstatement.

“We observed the general assembly (on Sunday). We are happy with the changes,” Adams said, adding the IOC’s prerequisite to ban any tainted officials from elections had been fully met.

On Sunday, the IOA voted in a new set of officials with World Squash Federation chief N. Ramachandran elected president, paving the way for the Olympic reinstatement of the world’s second most populous nation.

All India Tennis Association chief Anil Khanna became treasurer in polls which marked the exit of corruption-tainted Abhay Singh Chautala and Lalit Bhanot from the IOA.

via UPDATE 4-Olympics-India returns to the Games as IOC lifts ban | Reuters.

Posted in Good news, India alert, sports | Leave a Comment »

Tags: All India Tennis Association, India, Indian Olympic Association, International Olympic Committee, Olympic, Olympic Games, Sochi, World Squash Federation

11/02/2014

UPDATE 1-India IT sector exports seen picking up pace in FY15-Nasscom | Reuters

IT services exports in 2014-15 are forecast to rise to as much $99 billion, according to the National Association of Software and Services Companies (Nasscom).

NASSCOM 2010 (Photo credit: markhillary)

The increase in growth rate compares with an estimated 13 percent rise in fiscal 2014, the lobby added.

“Clearly compared to what we saw in the industry 12 months ago to now, we are seeing a far more positive momentum in our major markets,” Nasscom Chairman Krishnakumar Natarajan, also chief executive of IT firm Mindtree Ltd, told reporters.

Last month, the International Monetary Fund raised its global economic growth forecast for the first time in nearly two years.

India’s biggest IT services outsourcing firms, Infosys and Tata Consultancy Services, have forecast stronger growth for IT spending in the next fiscal year by their main customers in Europe and the United States.

via UPDATE 1-India IT sector exports seen picking up pace in FY15-Nasscom | Reuters.

Posted in Economics, India alert, IT, Technology | Leave a Comment »

Tags: Fiscal year, India, Infosys, International Monetary Fund, Krishnakumar Natarajan, Mindtree, Mindtree Ltd, Nasscom, National Association of Software and Services Companies, Tata Consultancy Services, United States

11/02/2014

UPDATE 1-U.S. ambassador to meet India’s Modi, ending isolation | Reuters

Modi‘s Bharatiya Janata Party (BJP) is considered the favourite to form a government after a general election due by May. He is also the chief minister of Gujarat state, where in 2002, Hindu mobs killed at least 1,000 people, most of them Muslims.

Narendra Modi at a BJP rally (Photo credit: Al Jazeera English)

“We can confirm the appointment,” a U.S. embassy spokesman said. “This is part of our concentrated outreach to senior political and business leaders which began in November to highlight the U.S.-India relationship.”

via UPDATE 1-U.S. ambassador to meet India’s Modi, ending isolation | Reuters.

Posted in Diplomacy, GeoPolitics, India alert, Politics | Leave a Comment »

Tags: Al Jazeera English, Bharatiya Janata, Bharatiya Janata Party, BJP, Gujarat, Hindu, India, List of Chief Ministers of Gujarat, Modi, Narendra Modi, United States

10/02/2014

Chinese Startup Oppo Ropes In Bollywood Stars for India Launch – India Real Time – WSJ

As competition intensifies in the global smartphone market, major players including Samsung Electronics and Apple have been spending heavily to market their latest devices through ads and celebrity endorsements. Now, even some startups in China are getting in on the action.

After enlisting famous Hollywood actor Leonardo DiCaprio to star in television commercials to promote its smartphones in China, Oppo is trying to expand in India by using a similar tactic. It is featuring Bollywood actors Hrithik Roshan and Sonam Kapoor in its latest TV commercial as it tries to expand in the fast-growing country.

Oppo started as a manufacturer of MP3 players, Blu-Ray players and feature phones in Dongguan, southern China in 2005. It released its first smartphone in 2011, selling mainly in China, but it is now trying to expand in emerging markets such as India, Indonesia and Vietnam that have a young population and rising purchasing power.

via Chinese Startup Oppo Ropes In Bollywood Stars for India Launch – India Real Time – WSJ.

Posted in China alert, Chindia Alert, Economics, India alert, Technology | Leave a Comment »

Tags: Bollywood, China, Dongguan, Hrithik Roshan, India, latest devices, Leonardo DiCaprio, Oppo, Samsung Electronics, Sonam Kapoor

10/02/2014

UAE-led group expects to sign $2 bln India power deal soon -sources | Reuters

TAQA, majority-owned by the Abu Dhabi government, is buying two hydropower plants owned by Jaiprakash Power Ventures in the northern Indian state of Himachal Pradesh.

The plants have a total capacity of 1,300 megawatts. TAQA plans to take a majority stake in the plants while India’s IDFC Alternatives and PSP Investments, a Canadian pension fund manager, will hold minority stakes, the sources said.

“They are working to finalise it before the end of this quarter, reinforcing TAQA’s confidence in the Indian market to complement its existing power generation business there,” an Abu Dhabi source familiar with the matter said.

“The deal value is estimated to be slightly over $2 billion. The consortium is likely to take over the debts of the seller,” a second source said.

via UAE-led group expects to sign $2 bln India power deal soon -sources | Reuters.

Posted in Economics, Electricity, India alert | Leave a Comment »

Tags: environment, hydropower plants, IDFC Alternatives, India, Jaiprakash Power Ventures, northern Indian state, PSP Investments, TAQA

CHINDIA ALERT: You'll be living in their world, very soon

Chindia Alert: You’ll be Living in their World Very Soon

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* H&M to open first store in India in 2014 | Reuters

Rail budget: Mallikarjun Kharge likely to announce more trains, new lines – The Times of India

India to Fight U.S. Solar Protectionism Charge as Ties Fray (1) – Businessweek

Boeing to Raise India Plane Demand Forecast Amid Surge in Travel – Businessweek

Indian Election Not a ‘Game Changer’ – India Real Time – WSJ

UPDATE 4-Olympics-India returns to the Games as IOC lifts ban | Reuters

UPDATE 1-India IT sector exports seen picking up pace in FY15-Nasscom | Reuters

Chinese Startup Oppo Ropes In Bollywood Stars for India Launch – India Real Time – WSJ

UAE-led group expects to sign $2 bln India power deal soon -sources | Reuters

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