Categoría: Economy and Business

Mexichem said on Tuesday its Dura-Line Corporation unit opened a new manufacturing plant in Hyderabad, India, that will produce cable ducts and pressure pipes for the water, gas and telecommunications industries.

“The new plant is Mexichem’s fourth plant in India, with two other facilities located in Goa, and another in Neemrana, near Dehli,” the company said in a statement.

The new industrial complex will allow “Mexichem to strategically position itself for exports to Southeast Asia, to serve customers in South India and to capture new business opportunities in the region,” the company said.

The plant “is part of the company’s continued strategy of becoming a global, vertically integrated chemical company with a focus on high-end specialized products and solutions,” Mexichem said.

Mexichem is a leading producer of chemical and petrochemical products, operating more than 120 plants in over 30 countries and generating annual revenues of $5 billion.

Source: http://www.laht.com/article.asp?CategoryId=14091&ArticleId=2387267

Boeing and Tata Advanced Systems (TASL) today signed a framework agreement to collaborate in aerospace and defence manufacturing and potential integrated systems development opportunities, including unmanned aerial vehicles.  The companies intend to access markets jointly for products and platforms developed together by Boeing and TASL.

The agreement was signed by Shelley Lavender, president of Boeing Military Aircraft, and Sukaran Singh, managing director and chief executive officer of TASL.

TASL is already on contract to manufacture aerostructures for Boeing’s CH-47 Chinook and AH-6i helicopters.

“This agreement with TASL is significant because it demonstrates Boeing’s commitment to expanding its aerospace manufacturing footprint in India,” Lavender said.

“As we step into our 100th year in business, a new aerospace partnership with India is the perfect milestone to accelerate the momentum we have generated for making in India,” said Pratyush Kumar, president, Boeing India. “It is noteworthy that TASL will produce Chinook helicopter parts in India even before the procurement contract is signed with the Indian government.”

See more: http://www.tata.com/media/releasesinside/Boeing-and-Tata-Advanced-Systems-announce-strategic-aerospace-partnership-to-make-in-India

 

With the aim of strengthening and promoting greater trade opportunities between the Peruvian businessmen with India, which is among the top 15 global importing countries, the International Trade Centre (CCEX) of the Chamber of Commerce of Lima (CCL) and the Council for the Promotion of Exports of Engineering Products India (EEPC INDIA) organized the fair «INDEE Peru 2015», will bring together more than 80 companies in the machinery sector.

Carlos Garcia, Manager of Foreign Trade Center (CCEX) of the CCL, «India is an important strategic partner to boost our economy given that Peru is emerging as the hub of the Indian industry for Latin America. As proof of this, this traveling exhibition «INDEE» has been made in several countries in Asia, Europe, but for the first time organized in Latin America, with Peru, which has this exclusive «.

Trade balance between Peru – India
At the close of 2014, Peru has generated over $ 321 million in shipments to India, over 80% of them for mining, within the traditional export. Also, between January and May this year were generated by exports amounting to $ 129 million.

fuente: http://bit.ly/1HGIeY0

Taiwan-based manufacturer Foxconn plans to build up to 12 new factories in India, employing nearly one million workers, by 2020, according to media reports.

Foxconn CEO Terry Gou, in an interview to NDTV Gadgets, said his company plans to set up manufacturing units in India, as quickly as possible. He also stressed this would require a push from the Indian government as well.

Gou was on a tour of India, visiting New Delhi, Mumbai and Bengaluru, among other places. The Financial Times reported that Gou had announced plans to establish a fund to invest in Indian technology start-ups.

Speaking to NDTV, Gou said the response from governments, both at the Centre and state-level, was much more positive and encouraging than it was 10 years ago. “(Prime Minister Narendra) Modi has pushed for development, I like your Make in India, Skill India,” he said. “You have software, you have content, you need hardware and now Modi has made it your goal.”

Foxconn had opened its first plant in Chennai a decade ago when, Gou said, the government was not supportive enough towards manufacturing.

“Indian local (state) government is also much friendlier now,” he said. “I met with the chief ministers of three of your states, AP (Andhra Pradesh), Gujarat, and Maharashtra. (The CMs of) Gujarat and Maharashtra came to China, and saw my facilities, and they’re keen that we set up in their states. Ten years ago, government was not friendly.”

See More: http://www.business-standard.com/article/companies/foxconn-to-build-12-factories-employ-1-million-in-india-115071400464_1.html

Keeping its projections for India and China unchanged, the International Monetary Fund on Thursday forecast that India will grow a clip faster at 7.5 percent in 2015 and 2016, overtaking a slowing down China.

While India’s GDP growth would go up from 6.9 percent in 2013 and 7.3 percent in 2014 to 7.5 percent over the next two years, China would slow down from 7.7 percent in 2013 and 7.4 percent in 2014 to 6.8 percent in 2015 and 6.3 percent next year, IMF said.

The July update of the April 2015 World Economic Outlook (WEO) predicting a slower growth in emerging markets and a gradual pickup in advanced economies projected global growth at 3.3 percent in 2015, marginally lower than in 2014.

In 2016, growth is expected to strengthen to 3.8 percent, the report said attributing the small downward revision to global growth for 2015 to a setback to activity in the first quarter of 2015, mostly in North America.

Nevertheless, the underlying drivers for a gradual acceleration in economic activity in advanced economies “easy financial conditions, more neutral fiscal policy in the euro area, lower fuel prices, and improving confidence and labour market conditions” remain intact, the report said.

See more: http://odishasuntimes.com/2015/07/09/india-set-to-grow-faster-than-china-at-7-5-percent-imf/