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Wipros’s Profits up 44%
India’s third largest software company, Wipro Ltd has announced that its net profit in the January-March quarter jumped 44 per cent from a year ago, helped by continued outsoucing orders from overseas. Bangalore-based Wipro reported a profit of 8.61 billion rupees ($200 million – 147 million Euros) in the fiscal fourth quarter, taking profit in the year ended March 20 29.17 billion rupees ($677 million, 498 million euros), up 44 percent from a year earlier. The company won 44 new clients, including 35 from the United States
Mobil Phone Subscribers
India added 67 MILLION mobile phone users in the year through March 2007, taking the total number wireless connections in the country to 166 million, the Telecom Regulator announced. The 68 percent year-on-year growth helped the total number of phone users in India to surpass the 200 million mark.
India to be Second Largest Steel Maker
The Indian government anticipates the county is set to emerge as the world’s second largest steel producer by 2016 as the capacity would rise three fold to 120 million tonnes by 2015-16 and 180 metric tonnes by 2019-2020. Currently India is the world’s seventh largest producer of the alloy with a capacity of around 44 mt. China is at the top with a capacity of 418 mt. India was at no 8 spot last year and ninth a year previous to that.
India to be 2nd largest auto market in a decade: GM
Indian manufacturing costs are extremely competitive and among the lowest in the world, even as this country is poised to become the world’s second largest market in less than a decade, according to GM Chairman Rick Wagoner. This is not just because of low wages but also because of the Indian attitude that abhors waste. “India is expected to be the second largest auto market in less than the projected 10 years. The growth will be driven by overall economic growth, rising disposable income and a rapidly expanding middle class. The automobile industry here provides huge job opportunities, as for every direct job created by vehicle manufacturers here, 15 more jobs were created in support.
Indian Pharma Scene Cure for Sure
India is emerging as a low-cost, high quality option for outsourcing of research, manufacturing and other services, which is bringing about dramatic changes in the global pharmaceutical business. Other factors include the global slow down in the sale of patented drugs, the growing opportunities for generics-drug makers, the absence of new billion-dollar blockbuster drugs internationally and the increasing pressure on Big Pharma; Wall Street Shareholders, Healthcare sector and many Western Governments are seeking a sharp reduction in the price of prescription drugs. Industry observers note that India could become the preferred global supplier of bulk drugs and dosage forms, and a hub for contract research and manufacturing, contract research organisations and R&D activities.
The country is among the top five manufacturers of bulk drugs and ranks among the tip 20 pharmaceutical exporters in the world. The Indian pharmaceutical industry ranks fourth globally in terms of volume and 13th in value terms. India has a vast pool of talented professionals – every year, nearly 125,000 chemical engineering graduates and chemists pass out of its universities. There are about half a million pharmaceutical scientists and pharmacists, working the manufacturing, R&D, hospitals and retailing sectors. The industry is growing at a compound annual growth rate of 13.6 per cent and revenues are projected to touch 12$ billion by 2010.
British Group plans townships in Punjab
The Britain based Sun Group wants to set up infrastructure projects in Punjab. The group, which had earlier proposed projects worth Rs10 billion ($247 million), has indicated that the investment could go up to Rs 40 billion.
The group wants to invest in ambitious projects like “Eco-cities”, thermal power plants, townships, expressways and airports. It has already proposed a Rs 1 billion rural development institute for the state, to be housed at the historic fort at Nabha, 110 km from Chandigarh. Group Director Uday Khemka said that his company would not want land acquired by the government and would buy it directly from farmers to set up townships. The Sun Group is involved in several infrastructure projects in Europe, Russia and the Gulf.
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