From its current position as the world’s sixth largest auto hub, India is all set to jump to the No. 3 spot by 2015.
China and the US will retain their dominant positions but the picture for India will change dramatically over the next three years, according to UK-based global financial advisory firm Rothschild. The market, which includes cars, trucks and auto parts, is expected to be worth 3.5 million units by the end of 2011-12, and by 2015 it would have overtaken Germany, Japan and Brazil.
Deal-making volume in India, in terms of private equity and mergers and acquisitions (M&As), reached a new high in 2011.
However, the value of these deals slipped by nearly 30 per cent, compared to the previous year, as a result of tightening credit and the ongoing Eurozone crisis.
While M&A transactions slowed down in 2011, activity across private equity and venture capital remained robust, leading to a record number of deals.
India’s leading IT services provider, HCL Technologies, is on the lookout for acquisitions in Europe as it struggles with a crippling debt crisis.
The Noida-based firm, whose global clients include the likes of Deutsche Bank and GlaxoSmithKline, is eyeing deals in countries such as Germany and France. Its CEO, Vineet Nayar, said his company plans to pursue partnerships and joint ventures in the region as companies struggle to cope with the euro-zone crisis. HCL plans to expand offerings for data analysis and cloud computing, which allows clients to rent software delivered over the web rather than having to install it on their machines.
Major global mobile network operators (MNOs) have signed up for a new broadband solution launched by Tata Communications.
The new framework is enabled by Internet Protocol Exchange (IPX+), which is designed to help capitalise on the latest technology innovations in the mobile broadband space.
Tata Comm executive vice-president Allan Chan said: “MNOs need solutions that deliver tangible benefits and improved efficiencies while tackling accelerated data growth.
India’s biggest drug maker, Ranbaxy Laboratories, has won approval to compete in the US market with its generic version of the cholesterol pill Lipitor.
It marks a major victory for the company, which has been working towards a clearance from the US Food and Drug Administration (FDA) for one of the world’s top selling medicines.
Ranbaxy’s entry into a market estimated at around $10.7 billion will give drug giant Pfizer some serious competition.
It is a decision most global retail chains have been waiting for – the opening up of India’s retail sector.
The likes of Walmart and Tesco will now be able to set up shop with relative ease after the Indian government approved foreign multi-brand retailers to own up to 51 per cent of joint ventures in the country.
It also opened up single brand retail for the likes of Nike and Apple to 100 per cent foreign direct investment (FDI).