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Embassy of India,
Riyadh |
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Issue 7 ♦ May 2005 |
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India Biz News |
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- A snapshot of India’s economic scene |
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SBI close to joining
billion-dollar club The State Bank of India is close to becoming a billion-dollar-profit
company. The country's largest bank has reported a standalone net profit of
US$987.3 million for FY05. SBI’s consolidated
profits had already crossed the $1-bn milestone last year. SBI will be
joining the ranks of ONGC, SAIL, NTPC and Reliance Industries, which have
reported net profits of over $1bn. Indian Oil Corporation, which is yet to
announce results, is also seen as becoming a billion dollar company in FY05.
With a largest customer base and highest market share of 25%, a massive
geographical spread of 1,400 domestic branches and 5,200 ATMs; and offices in
32 countries, SBI group plans to go a long way. While SBI celebrates its
bicentenary year in FY06, it will be a year to watch. India preferred destination for engineering outsourcing Outsourcing in the product engineering sector is all set to be next
in line in the Business Process Outsourcing (BPO) wave as its market is
expanding globally, especially in India, according to US market research
analysts. "Outsourcing engineering services is a small but growing
offering from outsourcing service providers", AMR research analyst Lance
Travis said. According to AMR Research's 2004 BPO survey, 15 per cent of
manufacturing companies hired outside companies to handle parts of their
research and engineering activities and another 10 per cent of manufacturing
companies had plans to do the same by the end of 2005. IBM among 29 FDI proposals cleared The US-based IBM's proposal to set up a wholly-owned subsidiary in India through its Hong Kong-based subsidiary IBM Products AP Ltd for undertaking trading activities involving foreign direct investment (FDI) worth Rs 65.5 million was among the various FDI proposals cleared by the Government. The company would also undertake manufacturing, importing, marketing, distribution and export of IT systems. The proposal from the German partner of Nivea
India, Belersdorf AG, to set up a wholly-owned
subsidiary to undertake manufacturing and sale of a diverse range of skin
care, personal care products and cosmetics involving FDI worth Rs 170 million was also okayed. Honda Express's plan to invest Rs 4.16
million at its Gurgaon base to set up a
wholly-owned subsidiary for logistics services, warehousing and sub-assembly
business too has been cleared. Foreign tourist arrivals up
18% Foreign tourist arrivals in the country have shown a jump between January and April of this year registering a growth of 18.3 per cent. A total of 13,28,094 tourists visited the country till April this year as against 11,22,898 in the corresponding period last year. The tourist arrivals also netted a total foreign exchange earning of Rs 90.79 billion during the four month period this year as against Rs 71.36 billion in the corresponding period last year Industrial production shoots
up by 8.1% The index of industrial production has grown by 8.1% during the first 11 months of 04-05 over the corresponding period of 03-04. This is the highest industrial growth recorded in a year since 1996-97. Demand has been buoyant, margins have galloped in the last fiscal and corporate India now expects a repeat performance of the mid-90s, when industrial production grew at a double-digit rate. Eicher to buy US firm for US$2.5 mn Eicher Motors Ltd said that it has decided to invest US$2.5 million for the
acquisition of a US-based company engaged in computer-aided engineering and
design services. Investment banking
firm Avendus Advisors is advising Eicher Motors Ltd for this transaction. According to
Group Chairman and Chief Executive, Eicher Group,
"The proposed acquisition of the US-based engineering and design
services company will provide a strong platform for growth in the engineering
services business that has tremendous potential and synergies with the
commercial vehicle business." eBay plans
US$21 mn investment in India over next two years eBay, among the established global auction sites, is mulling over an investment
of around US$21 million in its Indian operations over the next two years. US firms to invest more than
US$1 billion in US investment and advisory firm Blackstone
Group has announced plans to invest US$ 1 billion in India. Drug maker Strides
Arcolab has struck a development and marketing deal
for generic drugs with US firm K V Pharmaceutical Company, which would invest
US$11.3 million in the Indian firm. Textile market growth beats
peers Indian textiles and clothing market is the most happening place in
the globe, if the growth rate is anything to go by, India has achieved an 8
per cent rate of growth in textiles and clothing sales last year when all the
major markets — the UK, France, Italy, Germany, Switzerland and Japan —shrunk.
India registered the highest growth because of a combination of factors —
rising gross domestic product, increasing young population and the rising
tendency of moving up the value chain.
According to KSA Technopak’s estimates,
India would even better the growth rate in years to come. Indian market is
estimated to grow by $30 billion in next 10 years, more than the estimated
rise in UK ($15 billion), France ($10 billion), Germany
($10 billion). Japanese and Italian market will continue to shrink by $20 billion
and $5 billion, respectively. |
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Future belongs to India and It has been predicted that the world’s two most populous countries,
India and China together accounting for nearly 40 per cent of the total
population of the planet will also become
the two largest economies over the next 35 to 40 years. Well before Chinese Premier Wen Jiabao confabulated with
India’s Prime Minister Manmohan Singh, the US National Intelligence Council has
stated : “ In the same way as commentators refer to the 1900s as the American
century, the early 21st century
may be seen as the time when some in the developing word, led by India and
China, come into their own, “ During his visit to India, Wen
asserted that China and India are “partners, not rivals”. He said a “ strong
and prosperous India serves China’s interests” and added that stronger
economic ties between the two
countries were essential for “peace and prosperity in the world” and for the
creation of a new “ Asian century”.
Two –way trade has now been projected to go up to $ 20 billion by
2008. Bilateral trade between the two
countries has risen dramatically from $ 100 million in 1994 to $ 13.6 billion
in 2004. GDP to be around 7% in '05:
FM Finance Minister P Chidambaram predicted 7 per cent GDP growth in
this fiscal year and promised to keep inflation under control interact."We have managed to contain inflation at
moderate levels, interest rates are benign and the GDP is expected to grow by
about 7 per cent this fiscal he said. "Government will attempt to keep
inflation under control," he said. While RBI and ADB projected GDP to
grow by 7 per cent in the current fiscal IMF expects it to be 6.7 per cent
United Nation's Escap and NCAER predicted it at 7.2
per cent. Last fiscal, GDP growth was estimated at 6.9 per cent while it was
8.5 per cent in 2003-04. Indian Institute of Science: India’s crucible for
innovation In 1893, on board a ship called ‘Empress of India’ sailing from
Yokohama in Japan to Vancouver in Canada, an idea was born in a conversation
between two extraordinary Indians – Jamshedji Tata, a great industrialist, and Swami Vivekananda, a
great savant. Commenting on Tata’s plans to start a steel
mill, Vivekananda is believed to have told him that while manufacturing
technology could be imported, India needed a base where research in science
could thrive. The concept took seed in Tata’s mind
and in 1909; the Indian Institute of Science (IISc)
was set up in Bangalore. Ninety six years later, the institute is a crucible for innovation.
The institute’s youngest student, seventeen year old Tathagat
Avatar Tulsi is close to completing his PhD in
identifying room-temperature superconductors. A room-temperature
superconductor will make it possible to easily manufacture much faster and
smaller computers. Over the years, the institute has been a national
consultant on space research, electronic designs, power projects, civil
constructions and environmental planning. It actively works in association with the Indian Space Research Organisation (ISRO) and the Defence
Research and Development Organisation (DRDO). It
has also helped nurture the Tata Institute of
Fundamental Research and the Atomic Energy Commission. As an institution, IISc enjoys a rich
lineage. Almost all great Indian scientists and administrators of
technological establishments have been associated with IISc
at some point in time. Nobel laureate CV Raman was a professor at the
institute for 15 years. The founders of India’s nuclear program, scientists
HJ Bhabha and Raja Ramanna,
and the founders of the country’s space program, scientists Vikram Sarabhai and Satish Dhawan have all been
associated with the institute. Despite its checkered past, the institute has realized it can’t rest
on its laurels. So the institute’s commercial arm, the Society for innovation
and Development (SID) has formed a critical mass of relationships with the
outside world, which includes over 100 research projects, five umbrella
agreements with companies and 11 private R&D centres
inside the campus. The federal government is now believes it is time to take
the institute to the next level Wal-Mart CEO to visit India on retail FDIbuzz The recent buzz over the opening up of retail to foreign direct
investment has drawn Wal-Mart International president and CEO John B Menzer to India. eBay plans
US$21 mn investment in India over next two years eBay, among the established global auction sites, is mulling over an
investment of around US$21 million in its Indian operations over the next two
years. US firms to invest more than
US$1 billion in US investment and advisory firm Blackstone
Group has announced plans to invest US$ 1 billion in India. Drug maker
Strides Arcolab has struck a development and
marketing deal for generic drugs with US firm K V Pharmaceutical Company,
which would invest US$11.3 million in the Indian firm. Electrical equipment, machinery register 20% growth Of the 102 sectors, manufacturing and production operations mostly related to electric and telecom equipment along with construction equipment, tractors, colour picture tubes and air-conditioners have achieved an impressive growth of more than 20 per cent during the year 2004-05. An extensive survey on the performance of the manufacturing sector by the Federation of Indian Chambers of Commerce and Industry shows that electrical equipment and machinery, electric motors, circuit breakers, hydro-electric power, phosphates fertilisers, textile machinery, capacitors (HT) transformer, energy meters, oil and gas equipment, pipes and tubes, industrial valves, colour television, watch and refrigerators have reported a growth of more than 10 per cent over the previous year. |
Some Important
Websites:
Ministry of External
Affairs : http://meaindia.nic.in/
Ministry of Finance:
http://finmin.nic.in
Ministry of Commerce
and Industry:http://commin.nic.in
Confederation of
Indian Industry (CII) : www.ciionline.org
Federation of Indian
Chambers of Commerce & Industry (FICCI) : www.ficci.com
India Trade
Promotion Organisation (ITPO) :
www.indiatradepromotion.org
Trade-India.com : www.trade-india.com / Indian Exporters : www.indianexporters.com
Exporters India : www.indiamarkets.com
/ India Mart : www.indiamart.com
LIST OF INDIAN COMPANIES
WHO HAVE APPROACHED THE
WITH TRADE ENQUERIES FOR
THE MONTH OF MAY 2005
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Sl. No. |
Address |
Tel. |
Fax/ E-Mail |
Particulars of Queries |
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01 |
Mr. Mahendra Chaudhary, Partner, Global Exports 1st Floor,
Tank House, Bhati Circle, Ratnada,
Jodpur 342011 |
0091-291-2515938 |
001-291-2515938 E-mail: glo_india@yahoo.com / infor@globalindiaexports.com |
Interested to
export granite, marble, sand stone |
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02 |
Mr. Shathya Pottumarthi, Director – Technical, Elsoft Technologies Pvt. Ltd. Bangalore – 560
082 |
0091-80-2663-7585/91/
26652535 |
E-mail: sathya@elsoftech.com |
Seeking list of
IT companies |
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03 |
Mr. Virendra Kumar, |
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E-mail: virendra.kumar@rel.co.in |
Seeking
information on the visit of the Crown Prince to India |
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04 |
Mr. Deepak Garg, General Manager
(Middle East & Africa) IBS Software
Services (P) Ltd. Dubai, UAE |
00971-4-3914361 |
E-mail: deepakg@ibsplc.com |
Seeking details
of oil & Gas companies, sea ports etc. in Saudi Arabia |
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05 |
Mr. K. Vijay Mani, Executive
Director Resham Bhavan, 78 Veer Nariman Road, Mumbai 400 020 |
0091-22-22048797/22048690 |
0091-22-22048358 E-mail: srtepc@vsnl.com |
Seeking
information on conformity certificate for export of goods to Saudi Arabia |
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06 |
Mr. Chidambaram, Manager-
International Marketing BHEL Ltd.
International Marketing Division Outer Ring Road, Nagavara, Bangalore – 560
045 |
0091-80-25039248
/25039265 |
0091-25039286/25039305 E-mail: lmd@bel-india.com Web: www.bel-india.com |
Interested in appointing
agent for promoting BEL products |
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07 |
Mr. K. Ramesh, Vice President D.S. Narayana & Co. Pvt. Ltd. 201, Trishul Apartments, Water Tank Road, Prakash
Nagar, Begumpet, Hyderabad -500
016 |
0091-40-55332394/55442394 |
0091-40-27765944 E-mail: rmy_dsnship@yahoo.co.in Web: www.dsn.co.in |
Seeking SASO
regulations in K.S.A pertaining to electrical sector |
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08 |
Mr. Alok Agarwal, Polat Marmo Agglomerates
Ltd. A-105, Sector 5, Noida – 201 301 |
0091-120-2420504/2420306/2420509 |
0091-120-2420451 E-mail: awasthi@pil.polarinc.com |
Interested to
sale out its agglomerated marble plant and machinery |
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09 |
Mr. Premal Smart, Unity Engineers, 864/B1/3, G.I.D.C
Estate, Makarpura, Baroda 390 010 |
0091-265-2656265/
3090944 |
0091-265-2642771 E-mail: info@unityengg.com Web: www.unityengg.com |
Seeking
information on mining sector in Saudi Arabia |
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10 |
Mr. Nilesh Doshi, Export Director, MNR Exports Pvt.
Ltd. Doshi Niketan, 1/3
A, ballygunge Place (East) Kolkata 700019 |
0091-33-24601938 |
0091-33-24601940 E-mail: mnrexports@vsnl.com |
Interested in
exporting jute products, paper products etc. |
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11 |
Mr. Ashwin Patel, Proprietor, Sukanaya Imitation Jewellery, Santkabir Road, B/h Sadguru Sanidhya Complex, Kabirvan
Society Main Road, Nr. Shreeji Dies, Rajkot, Gujarat-3 |
0091-281-2707519 |
0091-281-2707519 E-mail: sukanyaemitation@yahoo.co.in |
Exporters of
imitation jewellery |
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12 |
Mr. Ravinder Kumar, Anand Farms, 127/9, Shivpuri
Colony, Gurgaon, Haryana-122001. |
0091-124-2315756 009899718617 (M) |
E-mail: ravinder10@gmail.com |
Exporters of herbs
and honey |
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13 |
Mr. Mohammed Rangwaa, Paragon Exports, 33-Onlooker Building, 4th
Floor, Sir P.M. Road, Fort, Mumbai-400001 |
0091-22-22661962 009820037813 |
0091-22-22664620 E-mail: rangwala@vsnl.com |
Exporters of rice |
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14 |
Mr. Nilesh Doshi, Export Director,
MNR Exports Pvt. Ltd., Doshi Niketan,
1/3A, Ballygunge Place (E), Calcutta-700019 |
0091-33-24601938 |
0091-33-24601940 E-mail: mnrexports@vsnl.com Website: www.mnr-india.com |
Exporters of jute
products |
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15 |
Mr. P.B. Tiwari, Director, Sonachi Group, A-38, Raj
Industrial complex, 2nd Floor, Military Road, Andheri
(E), Mumbai-400059 |
0091-22-56929981 /
56929982 |
0091-22-56939981 E-mail: sonachiinfotech@sonachigroup.com Website: www.sonachigroup.com |
Leading companies
in Saudi Arabia |
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16 |
Eng. Mustafa, Export Manager,
MACOMA, Plot No. 71-C, Govt. Industrial Estate, Kandivile
(W), Mumbai-400067 |
0091-22-28682237 |
0091-22-28682285 E-mail: macoma@vsnl.com Website: www.macomahardwares.com |
Exporters of
tanks |
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17 |
Mr. Saurabh Garg, Marketing
Manager, Kanta Foods, 2 Racquet Court Road, Delhi-110007 |
0091-11-9131034199 |
0091-11-9123952132 E-mail: kantafoods@rediffmail.com |
Exporters of
canned foods |
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18 |
Mr. Mridul Mittal, Exports Dept., Shareef Arts, 141, Netaji Subhash Marg, II Floor, Flat
No. 4, Near Muneemji & Co., Indore-452006 |
0091-731-3950181
/ 2452372 |
0091-731-2453594 E-mail: leatheranimals@shareefarts.com Website: www.shareefarts.com |
Exporters of
leather products |
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19 |
Ms. Nikita Bedi, Trainee, Minerals
Global Business Unit, TATA
International Ltd., 12th Floor, TATA Center, 43 Jawaharlal Nehru Road,
Kolkata-71 |
0091-33-22883483 0091-9830763374
(M) |
0091-33-22883482
/ 1559 / 3093 E-mail: nikita_bedi2000@yahoo.com |
Exporters of
metal products |
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20 |
Mr. Prasanthkumar M., Demani
Overseas Ltd., Nr. Sardar Patel Seva
Samaj, Mithakali Six
Roads, Ahmedabad,
Gujarat-380006 |
0091-79-26405506 |
0091-79-26405508 E-mail: demani@icenet.co.in |
Exporters of
fertilizers |
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21 |
Mr. Padmesh Nargunde,
Manager-Exports, BPL Engineering Limited, (Compressor Division),
8-2-682/8/9/A, Road No. 12, Banjara Hills, Hyderabad-500034 |
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0091-40-23392675 E-mail: pnargunde@bplcompressor.co.in |
Exporters of
compressors |
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22 |
Mr. J. P. Bindal, Export Manager, Shivnath Rai Harnarain India Ltd., B-16, Bhagwan
Dass Nagar, New Delhi-26 |
0091-11-25163477 |
0091-11-25449963
/ 25430354 E-mail: bindal@shivnath.com |
Exporters of rice
& food products |
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23 |
Mr. Jasjit Singh Ahluwalia,
Director ( Middle East), Premier Group, Premier House, C-146, Lajpat Nagar I, New Delhi-110024 |
0091-11-29810095
/ 29812970 |
0091-11-29810439 E-mail: jasjit.ahluwalia@premiershield.net Website: www.premiershield.com |
Exporters of security
systems |
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24 |
Mr. Satish Saini, Director-Int’l
Operation, Cone International, 1357, HArgolal Road,
Ambala Cantt,
Haryana-133001 |
0091-171-2632563
/ 5005796 / 2634170 |
0091-171-2643599
/ 2640938 E-mail: coneintl@sancharnet.in |
Exporters of
scientific and medical equipments |
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25 |
Mr. Prabir Kumar Singh, Satyam
Enterprise, 153, Vivekananda Pally, PO Berhampore, Dist. Murshidabad, West Bengal-742101 |
0091-3482-258476 |
0091-3482-250091 E-mail: prabir.singh@rediffmail.com |
Exporters of
vegetables & fruits |
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26 |
Mr. A. Kumar, Balaji, Kolkata-700001. |
0091-9831090022 |
E-mail: vkej@cal.vsnl.net.in |
Exporters of
sesame seeds, edible oil |
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27 |
Mr. Ashish Agrawal, Noble Refractories, 18/23 RBG Compex,
Opp. Bahucharji Temple, Kareli-Baug, Baroda-390018. |
0091-265-2461544 0091-9824276212 |
E-mail: ashish@noblerefractories.com |
Exporters of refractories |
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28 |
Mr. H.C. Trivedi, Officer-Textile, Adani Exports Ltd., Ahmedabad,
Gujarat. |
0091-79-25555358 0091-9426658151 |
0091-79-25555618 E-mail: hctrivedi@adanigroup.com |
Exporters of
textiles |
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29 |
Mr. Manish Singhania, Satyam Fabrics,
S-557, First Floor, School Block, Shakarpur, New Delh-92. |
0091-11-22482874 0091-9810370821 |
E-mail: manish@satyamfabrics.com Website: www.satyamfabrics.com |
Exporters of
textiles/home furnishing |
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30 |
Mr. Umang Vidyarthi, Director Tech.
& Export, Gromet India Pvt. Ltd., WH-1, First
Floor, Mayapuri Industrial Area, New Delhi-110064 |
0091-11-28116251
/ 28115925 |
E-mail: grommet@vsnl.com |
Exporters of
automotive filters |
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31 |
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