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Boom times for India's aviation industry


India’s aviation industry is taking off again. Between 2009 and 2010 domestic passenger traffic grew 19% - an impressive figure considering the 2008 global financial meltdown that led airlines around the world, including those in India, to ask for government bailouts.

“I have never seen such a dramatic change in the market character in such a short span of time,” analyst Kapil Kaul, who runs the Center for Asia Pacific Aviation, said.

He notes that less than 2% of India’s 1.2 billion population travels by air, which points to massive potential for growth.

“We’ve not even started. We could see potentially at least three to five decades of very high and profitable growth,” Kaul said.

Over the last five years, the industry has expanded, but it hasn’t been profitable, he said. But he thinks that will change and foresees a future of sustainable growth and profit making.

So far the big winners have been the low-cost carriers.

One of the newest to take off in India has been 5-year-old no-frills carrier IndiGo, which has climbed to the top of the pack.

Its kitschy advertisements, reputation for good customer service and low fares are making a mark on the industry.

The financial meltdown took a heavy toll on the global aviation business. But the Indian industry didn’t experience a “dramatic fall,” said IndiGo President Aditya Ghosh. "In the worst year in the aviation business ever India only dipped 5%,” he told CNN. “Now in that same year we grew by 46% in India. IndiGo grew by 46%.”

How did IndiGo manage that? One factor is that “we kept consistently bringing aircraft in,” Ghosh said.

IndiGo Airlines made history this year with the single largest aircraft deal in global history. The company made an order for 180 aircraft worth more than $15 billion.

IndiGo will need those planes if it continues to grow the way it has. This year the Indian government gave the company the go-ahead to start international service. Airlines in India are required to operate in the country for five years before being allowed to start flying internationally.

But growth certainly has its limits in India, where airlines contend with some of the world’s highest fuel taxes, insufficient infrastructure and a massive bureaucracy.

“While we were constructing this airport, we had to contend with 58 government departments. During this period, we had to contend with 100 court cases to take care of encroachments in this area,” said Aniruddha Ganguly.

Ganguly is the group head of business integration for GMR Group, the company that built Delhi Airport’s new $1.3 billion Terminal 3. He says the terminal was built on time despite the roadblocks.

“I would say that the country over the years has learnt the art of overcoming obstacles,” Ganguly said.

IndiGo’s Ghosh says the opportunities outweigh the challenges.

“Either I could work in another part of the world where fuel taxes are low and there are more efficiencies in some sectors but there is hardly any growth, or work in India where there is a 15% to 20% growth in passenger numbers every year and for the foreseeable future.”

Analysts say in the next decade India will need three times the number of airports that it has today. Since it doesn’t have enough skilled labor to build them or pilots to fly the planes, people with the right skills in developed nations with wilting economies may want to look east for opportunities

Boom times for India's aviation industry – Business 360 - CNN.com Blogs
 
I was wondering if the Central Bank of India (CBI) is independent like the Bank of Englan in the Uk or government run?
Both have their merits but for a country like India an independent central bank makes sense otherwise there would be huge unnecessary an unsustainable outlay in the lead up to elections. For the last 20 yrs this may not have been an issue if it is government run as MMS is a BRILLIANT economist but he is the exception.
 
Harley-Davidson India launches the new 2011 Forty-Eight at Rs. 8.5 lakh!

The American motorcycle giant has introduced a new model from its 2011 line-up for the Indian market, the all-new Forty-Eight with an attractive price-tag of Rs. 8.50 lakh (ex-showroom, Delhi)

main01_2011-hdfortyeight_560x420.jpg




Harley-Davison India today announced the addition of another spectacular model to its existing product portfolio, the all-new Forty-Eight. The pricing for the Forty-Eight is what we would say extremely aggressive and competitive at Rs. 8.50 lakh (ex-showrrom, Delhi) and the bookings will commence from April 2011. The bike will be available across the five Harley-Davidson dealerships in the country alongside the existing 2011 product line-up.

Featuring the trademark Sportster “peanut’ fuel tank design, the Forty-Eight is powered by the rowdy and powerful Evoltuon 1200cc V-Twin motor that churns out oodles of torque and the typically Harley engine feel. Oozing tonnes of brawn and attitude, the Forty-Eight is a bruiser of a bike from the Amercian giant that was introduced way back in 1957 when the culture of custom motorcycles became hugely popular amongst the Harley-Davidson fanatics. In its modern-day iteration, the Forty-Eight offers the same old-school charm but with today’s tech like electronic sequential fuel injection and modern suspension components.

main02_2011-hdfortyeight_560x420.jpg



Offered as a single-seater with an exquisitely done textured saddle for the rider, there are a host of accessories like pillion seat, footpegs and backrest if one wants to carry a pillion along on the ride. Bookings for the Forty-Eight will commence in April 2011, at Harley-Davidson dealerships around India.

Harley-Davidson India launches the new 2011 Forty-Eight at Rs. 8.5 lakh!

---------- Post added at 01:31 AM ---------- Previous post was at 01:31 AM ----------

Harley-Davidson India launches the new 2011 Forty-Eight at Rs. 8.5 lakh!

The American motorcycle giant has introduced a new model from its 2011 line-up for the Indian market, the all-new Forty-Eight with an attractive price-tag of Rs. 8.50 lakh (ex-showroom, Delhi)

main01_2011-hdfortyeight_560x420.jpg




Harley-Davison India today announced the addition of another spectacular model to its existing product portfolio, the all-new Forty-Eight. The pricing for the Forty-Eight is what we would say extremely aggressive and competitive at Rs. 8.50 lakh (ex-showrrom, Delhi) and the bookings will commence from April 2011. The bike will be available across the five Harley-Davidson dealerships in the country alongside the existing 2011 product line-up.

Featuring the trademark Sportster “peanut’ fuel tank design, the Forty-Eight is powered by the rowdy and powerful Evoltuon 1200cc V-Twin motor that churns out oodles of torque and the typically Harley engine feel. Oozing tonnes of brawn and attitude, the Forty-Eight is a bruiser of a bike from the Amercian giant that was introduced way back in 1957 when the culture of custom motorcycles became hugely popular amongst the Harley-Davidson fanatics. In its modern-day iteration, the Forty-Eight offers the same old-school charm but with today’s tech like electronic sequential fuel injection and modern suspension components.

main02_2011-hdfortyeight_560x420.jpg



Offered as a single-seater with an exquisitely done textured saddle for the rider, there are a host of accessories like pillion seat, footpegs and backrest if one wants to carry a pillion along on the ride. Bookings for the Forty-Eight will commence in April 2011, at Harley-Davidson dealerships around India.

Harley-Davidson India launches the new 2011 Forty-Eight at Rs. 8.5 lakh!
 
PM-led council to deliberate on India-Australia FTA

A council headed by Prime Minister Manmohan Singh would deliberate on the feasibility of starting a dialogue on a Free Trade Agreement (FTA) between India and Australia, besides a more comprehensive agreement with Indonesia.

The Trade and Economic Relations Committee would meet at the Prime Minister’s residence tomorrow and also take up the issue of a India-European Union FTA, ahead of the talks in Brussels to free markets of 2 billion people, officials told Business Standard.

A Joint Study Group (JSG) had recommended that FTA between India and Australia be signed. The report said trade between the two was rising and had vast potential. It said trade relations between the two countries could be further given a boost with liberalisation like removing tariff and non-tariff barriers, etc, that might form part of FTA.
The bilateral trade between India and Australia expanded around 10 per cent to reach $13.79 billion during 2009-10.

A wider Comprehensive Economic Cooperation Agreement (CECA) with Indonesia would also be taken up. The meeting would also discuss a report by the JSG that favoured constituting a bilateral Trade Negotiations Committee and starting negotiations on Trade in Goods, Trade in Services, Investment and other areas of cooperation with an ultimate aim of signing CECA with the South-east Asian country.

Indonesia accounts for 0.55 per cent of Foreign Direct Investment into India. The trade between the two countries grew by 27 per cent to stand at $11.72 billion in 2009-10.

The committee would also assess setting up a joint study group for a possible free trade pact between India and the Common Market for Eastern and Southern Africa.

India has already implemented free trade pacts with South Korea and the Association of South-east Asian Nations and signed comprehensive pacts with Japan and Malaysia.

The panel would also take up the issue of signing a broad-based trade and investment agreement with EU.

Officials from both sides have been engaging themselves with resolving differences on issues like opening of markets in auto and auto components, wines and spirits and intellectual and property rights and services.

According to officials, the two sides have agreed on four of the 12 key areas that have been in negotiations since June 2007 for BTIA, aimed at freeing vast markets of about two billion people to mutual advantage.

While the EU wants India to eliminate or drastically reduce tariff on Completely Built Units (CBUs) and Completely Knocked Down units (CKDs) in passenger cars, the Indian negotiators are opposing this to protect the domestic industry.

The 27-nation bloc also wants India to open its services sector, including foreign direct investment in retail, banking and other financial services. Bills to increase FDI cap in private insurance companies in India from 26 per cent to 49 per cent is pending with the standing committee on finance, while another bill to increase voting power in private sector bank in line with stakeholders’ equity was tabled in Parliament in the Budget session last month. FDI in retail has been a controversial area and may not be touched, at least till the current assembly elections.

Meanwhile, Commerce Secretary Rahul Khullar is scheduled to visit Brussels later this week to discuss BTIA with EU officials.


PM-led council to deliberate on India-Australia FTA
 
India, Spain JV biotech plant inaugurated

April 5, 2011:
Bhopal, Apr 5 An India-Spain joint venture to manufacture, among other things, molecular biology enzymes/reagent widely used in the biotechnology field, was inaugurated here on Tuesday.

“3B Blackbio Biotech India Ltd” is a joint venture company of Kilpest India Ltd, a leading agrochemical company in central India, and two Spanish biotechnology companies.

It will also make molecular diagnostic kit based on Spanish patented technology for various diseases like Tuberculosis diagnostic,1st and 2nd line drug resistance tuberculosis, Malaria (Pf Vivax/Pf Falciparum), Dengue HPV, HBV and HCV, a Kilpest release said.

It will also provide early septicemia detection within 6 hours through universal bacterial & fungal identification kit and treatment for diabetes (risk prediction & drug metabolism).

The joint venture will help in research and development of new tools in the field of personalised medicines, medical diagnostic, pharmacogenomics as well as provide diagnostic tests to predict drug treatment effectiveness. It will also enter the field of nutrigenomics.

The plant was inaugurated by Madhya Pradesh Health minister Mr Narottam Mishra.

Mr Erik Rovina Mardones, commercial counsellor in the Embassy of Spain and Mr Adrian Gutierrez, chief representative CDTI (Spain’s national innovative agency, ministry of science and technology) were also present on the occasion.

Business Line : Industry & Economy / Economy : India, Spain JV biotech plant inaugurated
 
Indian companies urged to invest in Tanzania energy
Tuesday, 05 April 2011 21:47

By Alawi Masare
The Citizen Reporter
Dar es Salaam. The government has advised Indian engineering companies to invest in energy and mineral sectors to help the country get out of power blues and support small scale miners through supply of equipments.

Commissioner for energy and petroleum affairs in the ministry of energy and minerals, Mr Bashir Mrindoko, made the call in Dar es Salaam on Monday to representatives of 15 Indian engineering companies who met their Tanzanian counterparts in the city, seeking to identify areas for investment partnerships.

“About 85 per cent of the Tanzanian population has no access to power...we need your companies to invest in this sector in order to widen the electricity coverage in rural areas,” said Eng Mrindoko.

Earlier, the leader of the delegation, Mr Jaysinh Babla, urged his colleagues to explore the available opportunities in the sectors in their bid to strengthen and expand the existing trading relationship between Tanzania and India.

“India and Tanzania have long term multifaceted relationship which is strengthening over the years. It is high time now to trade with us and my colleagues you can start investing in solar energy to lighten villages which have no access to power,” said Mr Babla.
The companies are also among nearly 13,000 members of the EEPC INDIA.
 
World's super-rich see Mumbai as future hub

MUMBAI: The globally wealthy see New York and London remaining the world's leading hubs over the next decade but emerging centres like Mumbai, Shanghai and Sao Paulo are fast catching up as future cities. Mumbai's importance increased by 118% from 2010, the highest among 20 world cities, according to the 2011 edition of The Wealth Report, launched by Knight Frank and Citi Private Bank on Wednesday.

The survey covered 5,000 ultra-high net worth individuals (UHNWI) who are clients of Citi Private Bank and based in 36 countries. Each is worth on an average $100 million (approx Rs 450 crore). The report shows that prime property remains important to the world's wealthiest people . On average, property accounts for 35% of UHNWI investment portfolios, second in importance only to investing in their own businesses. India has 47 dollar billionaires and 1.27 lakh high net worth individuals. The US has 396 billionaires, China 72, Russia 58 and the UK 42.

The key findings of the survey reveal that almost 40% of the world's most exclusive residential property markets increased in value during 2010. Six of the ten biggest risers were in Asia. Luxury property price growth was highest in Shanghai with a 21% increase. London and New York saw increases of 10% and 13% respectively. Monaco remained the most expensive residential location in the world, followed by London.

"Almost 40% of the 85 prime city and second-home locations in 40 countries that were analyzed by the report's Prime International Index (Piri) rose in value during 2010, 17 of them by 10% or more," said the report. However , a number of locations, saw values fall significantly. These include Dublin (-25 %) and Dubai (- 10%).

Schooling and tax are growing drivers for superrich property purchases; 29% of Southeast Asia secondhome buyers cite education of children as their main second-home purchase reason. "For those UHNWIs who change their main country of residence, tax is the biggest motivator," it said. 64% of the wealthy said they will increase their charitable giving over the next five years.

Andrew Shirley, editor of The Wealth Report, said, "The collective worth of the global HNWI community increased by 22% last year, so it is not surprising that many of the world's luxury property markets benefited." The biggest increase in wealth was in Asia Pacific (+35%) and that is where the survey also recorded the biggest increase in property prices.

"However, it is not just wealth creation that is ensuring that the international prime property market contains players from more countries than ever before. As we have seen recently in North Africa and the Middle East, a number of major geopolitical shifts are now playing out around the world. These all serve to enhance the desirability of true global centres, like London and New York," said the report.

Tina Fordham, senior political analyst, Citi Private Bank, said, "When it comes to the impact of politics on the global investment environment , 2011 has so far proved to be the year of living dangerously . 51% of the individuals surveyed for this report said they were 'more concerned' about global political instability than in the past five years while 55% are more worried about the state of the global economy than five years ago."
 
Double-digit pay hikes for techies this year

BANGALORE: The salary increment season has just started. And techies have something to look forward to. In contrast to the salary cuts and the single-digit hikes during the slowdown years, increments this year are expected to be in double digits for most.

The surge in demand for IT globally and rising customer confidence have substantially increased the demand for people. A quick check done by TOI found that average increments would be in the 12% to 15% range. People in specialized areas, like the product space, are expected to get up to 20% or more.

Fresher salaries/stipends are already up by 10% to 15% compared to last year. Hires from premier educational institutions have seen 15% to 20% increases this year. Recruiters say the country's top tech firms - TCS, Wipro, Infosys, HCL and Cognizant - are considering a 10% to 15% average hike this year. A senior official at Infosys said the company is looking at a pay hike in June and that it should be in the range of 10% to 12%.

...
 
Crude prices, inflation to hit India: ADB

Projecting a lower economic growth at 8.2 per cent in India in this fiscal,
Manila-based Asian Development Bank on Wednesday warned that surging global crude oil prices will drive inflation requiring strong fiscal and monetary tightening measures. The ADB Outlook 2011 released on Wednesday said India’s GDP growth will expand by 8.2 per cent in 2011-12, down from an estimated 8.6 per cent for 2010-11. Growth is expected to bounce back to 8.8 per cent in 2012-13 as investment and overall economic activity pick up and planned reforms move forward.

The pre-budget economic survey had projected economic growth of 9 per cent plus-minus 0.25 per cent for 2011-12.

ADB principal economist Rana Hasan said the economic survey had apparently taken average global crude oil prices at $ 90 a barrel whereas ADB projections are based on the assumption that average global crude oil prices would be around $ 104 a barrel in 2011-12 and $112 a barrel in 2012-13. Also, the models adopted for arriving at growth projections are different.

After reaching an estimated 9.2 per cent in 2010-11, the average annual wholesale price inflation for 2011-12 and 2012-13 is expected to dip to 7.8 per cent and 6.5 per cent respectively as monetary policy remained tight, although firm oil prices will remain a strong downside risk.

Continued inflationary pressure coupled with a pullback in private investment and structural obstacles present challenges going forward. Fiscal and monetary policies will also remain less accommodating than in the past as the government follows its fiscal consolidation roadmap and the Reserve bank of India acts to anchor inflation expectations. ADB did not expect much impact of food prices on inflation.

Hasan said he expected Reserve Bank of India to raise key short-term rates by 50 basis points this year on account of surging crude oil prices driving India’s inflation. “Managing inflation is not going to be easy for developing Asia including India as monetary policy tightening is going to push up interest rates.”

Hasan also said ADB prescribes more south-south cooperation to increase exports and investments among developing countries as the US, Europe and Japan would witness slow recovery. He, however, ruled out the possibility of double-dip depression in industrialised nations in the next two years.

“The silver lining for India is that food inflation has forced policy makers to focus on second green revolution, improving supply chain and farm productivity,” he said. The government needed to tackle structural constraints including the poor agriculture supply chain and farm productivity. A positive start has been made with programmes to remove production and distribution bottlenecks.

http://www.mydigitalfc.com/economy-watch/crude-prices-inflation-hit-india-adb-963
 
IHG to invest $30-mn in India over next five years

Global hospitality chain InterContinental Hotels Group (IHG) is looking at investing $30-million in India over the next five-years.

The company has signed a joint venture partnership with Duet India Hotels Group (DIHL), the hotel investment arm of global asset manager Duet Group, to develop 19 new Holiday Inn Express hotels in India.

IHG will invest through a 24% equity stake.
"We are investing a small amount of our own capital in India along with a strategic partner who knows the market. We are developing the Holiday Inn Express brand across India keeping in view the strong economic growth and an expanding middle-class in India," IHG said in a statement.

"We forecast a strong demand for mid-market and select service hotels in the country," IHG's Chief Financial Officer Richard Solomons said.

These 19 Holiday Inn Express hotels will add around 3,300 rooms to IHG's current India development pipeline of over 10,000 rooms (46 hotels) and are expected to be operational by 2016, he added.

The hotels will be primarily located in India's major metros and key secondary cities, which are well positioned to drive growth and continued investment opportunities including New Delhi, Mumbai and Bangalore.

The company expects to have a 150-hotel presence by 2020. These hotels will address the needs of internationally branded and high-quality hotels for domestic travellers.

IHG operates around 2,075 Holiday Inn Express hotels and 494 hotels are under development around the world.

IHG to invest $30-mn in India over next five years
 
SPAR hypermarket expands India operations

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BANGALURU (Commodity Online): SPAR, the world's largest independent food retail chain spread across 34 countries, unveiled its first single floor hypermarket in Pune, spread over 37000 sq. ft.

This is the 7th SPAR store in India, with the other 6 located in Bangalore, Hyderabad, Mangalore and Delhi.

The initiative is in arrangement with Max Hypermarkets India Pvt. Ltd. (part of the Dubai based Landmark Group) which has a license agreement with SPAR International to open SPAR stores in India.

Commodity Stocks News | SPAR hypermarket expands India operations | 07 April 2011 | www.commodityonline.com
 
BMW posts highest ever monthly sales in India in March​


NEW DELHI: German luxury carmaker BMW today reported its highest ever monthly sales in India clocking 1,027 units in March and said it will decide by next month on further increasing output from its Chennai plant.

"There is a lot of demand for luxury cars in India and I am not surprised by our March sales. I am expecting another good sales in April as well," BMW India President Andreas Schaaf told PTI.

In March this year the company sold 1,027 units, up 69.75 per cent from 605 units in the same month last year. The firm's previous best ever monthly sales in India was in December 2010 at 901 units.

Asked if the company would face production constraints due to the high demand considering it has an annual output of only 10,000 units on a singlet shift, he replied in the negative.

"Our Chennai plant is flexible and we can increase the output with a second shift. It is no brainer that we will need to have a second shift and we have to decide within the next month on the second shift," Schaaf said.

He, however, did not share by how much the output from the Chennai plant could increase when it goes for a second shift. Last month BMW had increased the production capacity of the Chennai plant to 10,000 per year from 8,000 units earlier.

Upbeat on the March sales, Schaaf said: "BMW India is proud to become the first luxury car manufacturer to cross the 1,000 mark in a single month...As the market leader in the Indian luxury car segment, I am convinced that we are well- positioned for a very promising future."

During March, BMW's rivals and compatriots Mercedes-Benz and Audi also reported highest ever monthly sales.

Mercedes-Benz India reported 89.32 per cent rise in its sales for March at 833 units. Audi saw its sales climbing by over three-fold jump to 681 units.

BMW posts highest ever monthly sales in India in March - The Economic Times
 
Auto exports clock 30% growth in 2010-11

NEW DELHI, APRIL 8:
Automobile exports from India grew at a robust 29.64 per cent in 2010-11 riding on two-wheelers and commercial vehicles despite a sluggish demand from Europe, one of the main markets for small cars.

According to the figures released by the Society of Indian Automobile Manufacturers (SIAM), total exports from the country stood at 23,39,333 units in last fiscal compared to 18,04,426 units in the year—ago period.

During the fiscal, commercial vehicles and two—wheeler sectors witnessed good growth in exports, SIAM President Mr Pawan Goenka told reporters here.

“The only low was the passenger vehicle segment, mainly because of slow recovery of the European market,” he added.

India’s total passenger vehicle exports during last fiscal were up by a mere 1.64 per cent at 4,53,479 units as against 4,46,145 units in the previous fiscal, SIAM said.

Passenger car exports from India touched 4,47,403 units in FY’11 as against 4,41,709 units in the previous financial year, up 1.29 per cent.

In 2010—11, India’s largest exporter Hyundai Motor saw a decline of 18.41 per cent at 2,33,069 units.

Domestic market leader Maruti Suzuki was a distant second, registering 6.93 per cent fall in overseas sales at 1,36,026 units in 2010—11.

However, exports growth in the last financial year was robust in the two—wheeler category, which registered 35.04 per cent rise at 15,39,590 units as against 11,40,058 units in the previous financial year.

The surge in two-wheeler exports was led by Bajaj Auto and TVS Motor Company with sales of their motorcycles and scooters in various overseas markets.

Bajaj Auto’s overseas two-wheeler sales rose by 34.11 per cent to 9,72,437 units from 7,25,097 units in 2009—10.

TVS Motor Company registered a rise of 38.52 per cent at 2,29,132 units as against 1,65,414 units in FY10.

Domestic market leader Hero Honda saw its bike exports increase by 36.20 per cent at 1,33,063 units against 97,699 units in the previous fiscal, SIAM said.

Commercial vehicles also registered a very robust growth at 69.51 per cent in exports during last fiscal at 76,297 units, compared to 45,009 units in 2009-10.

While light commercial vehicles saw an export jump of 91.28 per cent at 47,025 units, the medium and heavy commercial vehicles segment’s overseas sales grew 43.31 per cent at 29,272 units in 2010-11, SIAM said.

Three-wheeler exports rose by 55.86 per cent to 2,69,967 units from 1,73,214 units in the previous fiscal, it added

Business Line : Industry & Economy / Economy : Auto exports clock 30% growth in 2010-11
 
India still 2nd best FDI spot, recent dip temporary: Nomura


Nomura India has said despite recent massive slump in FDI inflows, the country remains the hottest investment destination in the world after China and that inflows will return to the pre-crisis peak by early 2012. Foreign direct investment (FDI) inflows plunged 25 percent in April-January period to
$17 billion Y-o-Y. The figure was more alarming in January when it nosedived 48% to $1.04 billion.

Attributing the recent decline to primarily global factors, Nomura India Vice-President and economist Sonal Varma said following the 2008 crisis, other emerging markets too saw sharp drop in FDI inflows but picked up steam after two years unlike India.

"Of the $12-billion decline in FDI inflows between 2008 and 2010, around 60% was due to weak inflows into services spaces like computer software and hardware, financial services, banking, and construction," Varma said.

"The sharp drop in inflows into banking and other financial services is unsurprising as the crisis led firms to restructure operations. As a result, share of infrastructure in total FDI inflows rose to 24.7% in 2010 from 16.3% in 2007 and that of manufacturing rose to 32.1% from 19.6 percent, despite an fall in the absolute numbers in FY11," he said in his report.

While globally, overcapacity, credit crunch, fragile growth and increased risk aversion led multinational corporations to curtail investment, locally, the environment sensitive policies pursued appear to have affected the investor sentiments, he said.

India still 2nd best FDI spot, recent dip temporary: Nomura - Hindustan Times
 
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