Abu Dhabi Investment Authority to invest $50 billion in India, says Suresh Prabhu

Abu Dhabi Investment Authority to invest $50 billion in India, says Suresh Prabhu

Union minister for commerce and industry Suresh Prabhu on Friday said that the Abu Dhabi Investment Authority, a sovereign wealth fund owned by Emirate of Abu Dhabi, will invest USD 50 billion in India, especially into infrastructure and food processing capacity, according to a Times of India report.

Speaking at the inaugural function of the annual venture capital summit in Panaji, Prabhu announced that the agreement has been signed on Thursday. Abu Dhabi-based sovereign wealth fund is interested in investing in India in a big way, he added.

According to the agency, Prabhu had also asked the International Finance Corporation to help attract other sovereign funds and pension funds to invest into India.

The Commerce Minister said that India is a top investment destination in the world today. Twenty states have their Startup policy. Suresh Prabhu stated that infrastructure is the sector where India is developing at a faster rate and this is creating lots of opportunities for investors.

He further remarked that India is one country where almost every citizen is an entrepreneur and where 600 million farmers and retailers take enormous risks. The fragmented Indian agricultural holdings provides great opportunity for startups to bridge the productivity gap by providing solutions using cutting edge technology like AI and drones.

Suresh Prabhu also declared Goa as the permanent venue for the Annual Global Venture Capital Summit. The Summit will take place in Goa on the first Friday of December every year.

Edited by Chitranjan Kumar

source =.”businesstoday”

ESR-Allianz Real Estate JV to invest $1 billion in India

Warburg Pincus-backed ESR is one of Asia’s largest developers and operators in logistics and warehousing. Photo: Bloomberg

Warburg Pincus-backed ESR is one of Asia’s largest developers and operators in logistics and warehousing. Photo: Bloomberg

Bengaluru: Asia Pacific-focused logistics developer e-Shang Redwood (ESR) has entered into a strategic partnership with global asset manager Allianz Real Estate to invest around $1 billion, including debt, into India’s rapidly growing logistics and industrial property market.

The joint venture will focus on developing large-scale logistics and industrial facilities in eight key cities—Mumbai, Pune, Chennai, Delhi, Ahmedabad, Kolkata, Bengaluru and Hyderabad—with an opportunistic approach to investments in other markets in India, the companies announced on Friday.

In addition, the investment programme will also identify opportunities to acquire assets in these cities.

“We are delighted to partner with Allianz, an existing strategic partner of ESR in other geographies. This JV with a leading institutional investor who has deep experience in Asia marks a key milestone in our regional growth plan,” Charles de Portes, co-founder and president of ESR, said in a statement.

The proposed investment programme will start with an immediate equity commitment of $225 million, to be funded on a 50:50 basis by Allianz and ESR. This would subsequently be converted into a $1 billion assets under management platform. The programme’s strategy is to leverage structural trends in tier one and selective tier two cities to build a long term, cash flow-positive logistics portfolio by acquiring a blend of develop-to-core, forward purchases, and stabilized or stabilizing assets.

On Thursday, ESR kicked off its first project in India, an industrial and logistics park in Chakan MIDC (Maharashtra Industrial Development Corporation), Pune.

Warburg Pincus-backed ESR is one of Asia’s largest developers and operators in logistics and warehousing, formed by the merger of e-Shang Cayman Ltd and Redwood Group Asia Pte. Ltd in 2016. Based out of Hong Kong and Singapore, it owns and manages around 7.3 million sq. m of assets in China, Japan, Singapore and South Korea.

Alongside the growth in the e-commerce sector in the country, the increasing internet and smartphone penetration, growing acceptance of online payments and favourable demographics will continue to propel e-commerce growth, spurring demand for modern logistics facilities, ESR said.

“India’s logistics sector is coming of age. The sector is benefitting from a lot of favourable trends, such as stellar consumption patterns, continued infrastructure spending, increasing transparency and the nation-wide implementation of a uniform indirect tax system,” said Rushabh Desai, Asia-Pacific CEO of Allianz Real Estate.

In India, the warehousing and logistics sector attracted investments of more than a billion dollars in 2017 and is witnessing a huge interest in building businesses around steady rental income. Canada’s Brookfield Asset Management Inc. is planning to enter the industrial real estate space, while Sydney’s LOGOS Group and Assetz Property Group from Singapore partnered in 2017 and are scouting for land. Embassy Industrial Parks Pvt. Ltd, Ascendas-Singbridge Group and Mahindra Lifespace Developers Ltd also plan to build industrial parks and clusters.


Entering A New Industry? 8 Ways To Break In Successfully

It’s never easy to get your foot in the door of a new industry. Whether you’re looking to start a business venture or simply collaborate with a brand in that market, the process of breaking in is a tricky one that must be handled with care: You can’t expect to be welcomed with open arms without proving yourself to industry veterans.

We asked eight members of Young Entrepreneurs Council about what it takes to successfully enter an unfamiliar industry. From making the right connections to offering a prototype or free services, here’s what they had to say.

All images courtesy of YEC members.

Entrepreneurs share tips for entering a new industry.

1. Talk To Industry Veterans, Potential Customers And Advisors

When it comes to getting a firm grasp on a new industry, one of the best ways is to leverage the experience of the veteran entrepreneurs in your industry. If you meet with them and ask many questions, you can learn quickly what it took them years to learn. If you combine this with reading books, the effect compounds. The next step is to meet with customers in the industry to understand their pain points to determine how you can innovate and differentiate yourself in this new space. Write down notes and reflect on the stories you hear to put the pieces of the puzzle together. The last step is to find a problem to solve and make an assumption you can measurably test to validate your business idea and meet advisors who can guide you before you go fully commit yourself. – Dan San, Meural

2. Partner With An Industry Leader

In my career, I have had many opportunities to enter into a new industry I really knew nothing about. Then I developed a mentality I like to call, “don’t buy it, sell it.” Why purchase a product or service you know you can sell, with just a little more knowledge and understanding? If you partner up with the right person or company, not only do you gain access to an unlimited supply of whatever that product or service is, but you also gain access to knowledge that you cannot read in FAQ or terms and conditions. Sometimes, the best way to break into anything when it comes to “the unknown,” is to admit your own ignorance to yourself, bite the bullet, and ask for help or advice. And, anyone will let you sell their products or services in exchange for more information. – Jason Criddle, Jason Criddle and Associates

3. Offer Free Or Discounted Services At First

One awesome tactic to break into new territory is to offer to do the project for free, or at a reduced rate, in exchange for feedback. This allows you to work with a client who will help you understand the industry. You will be upfront that this is your first project for this industry, but you are applying the same knowledge from other industries so it should work out fine. The client is getting great work, but at a discounted rate. You are getting inside knowledge on how to build a better service or platform. If there are any mistakes, both you and the client know this is a first time and so expectations are not as high. It takes a good client to make this work, but can be a success for both parties. – Peter Boyd, PaperStreet Web Design

4. Network With Anyone You Can

The best strategy for breaking into a new industry is to meet people in that industry. Research industry organizations and get involved. Become a member, join a committee, go to the events. Meet your new peers, learn about their work, care about their work and then show them your struggle. People want to help. Obviously, you don’t want to reach out to a potential competitor. However, you can reach out to just about anyone else. The best referrals that I have ever received came from someone random. Not the “big fish” everyone is always trying to meet at networking events. Especially if you are among other business owners, we’ve all been there, ask for help. – Allyson Case, Integro Rehab LLC

5. Be Continually Curious

Who said curiosity killed the cat? Following your curiosity is the key to learning a new industry. We hold the library of Alexandria at our fingertips with the internet today. It has never been easier to become more intelligent than 99 percent of the population on a given subject. I start by going down the Google rabbit hole. I open 10-15 tabs, watch the top rated YouTube videos, add the expert’s names to an Evernote file and circle the subject like a shark. If the idea is to understand autonomous cars, Google the biggest companies, top YouTube videos, “why autonomous cars will change world,” and on you go. Once you start watching experts and realize you know what they are about to say, you’re an expert. – Codie Sanchez, Www.CodieSanchez.com

6. Create Prototypes To Showcase Your Industry Knowledge

I always believe in creating some prototype software to showcase my knowledge and understanding of an Industry. When I wanted to reach out to a transportation industry, I first talked to a few people and figure out the issues they are having. Then based upon the issues, I created a prototype and showcased to C-level executives. It takes around one month to build a prototype, efforts pay off as I can use it to earn business. Don’t be afraid of barging into new verticals, all that is needed is energy to learn and solve problems. There is always a beginning. – Piyush Jain, SIMpalm

7. Make A List Of Questions You Have, Then Find The Answers

When I want to dive into a new venture, I start going to the bookstore to learn everything and anything on the subject. Then I create a list of what I want to search online and the questions I have pertaining to the venture. Before you know it, I am looking into forums and connecting with people who have already succeeded in the particular venture. I want to be able to learn from them and areas of improvement as well. For example, I was looking to create a new travel app that made it easy for young women to coordinate their travels. I connected with travel agencies, started reading books about travel journeys to get inside the head of a traveler, and reaching out to a network of well-traveled young women. The community of women was how I was able to build traction for the app. – Sweta Patel, Silicon Valley Startup Marketing

8. Connect With Trusted Influencers And Get Their Endorsement

One of the best ways to make your brand or business well-known or respected in any space is to connect with a brand, website, or influencer who is already trusted and has a massive following. This is something we are commonly seeing in the world of social media, and specifically on Instagram, where visual content is king. No matter what it is you have to offer or sell, simple brand association can go a long way when trying to connect with a new audience. The important thing here to remember is that you don’t want to go in too strong and come off as just a paid placement or advertisement. Instead, it should be able to the value provided and blending in with the user experience that is expected from the people or brands they are already following. – Zac Johnson, Blogger


Marketing and IT Departments Need to Get In Sync to Best Capitalize on Mobile Technology

IT decision-makers report a much higher importance of mobile apps than their marketing counterparts.
Getty Images

While the decade between 2007 and 2017 marked the genesis and maturation of the mobile industry, technologies like augmented reality (AR), virtual reality (VR) and artificial intelligence (AI) are poised to accelerate this evolution even faster in the decade to come, according to Adobe—and it found marketers may not be as prepared for the coming changes as their counterparts in IT.

That’s according to Adobe’s latest report, The Next Mobile Decade, which includes a survey of nearly 500 marketing and IT professionals’ priorities and investments in mobile.

Adobe said most respondents have a centralized mobile leadership team, which means mobile strategy is no longer an afterthought. That being said, there’s still potential misalignment between marketers and that must be reconciled if brands want to capitalize on mobile technology and derive maximum benefit for their customers.

Marketers at least seem to view mobile websites as slightly more important than apps: Sixty-nine percent of marketers and 84 percent of IT professionals said apps are extremely or very important, whereas 81 percent of marketers and 83 percent of IT professionals said mobile websites are extremely or very important.

“IT decision-makers report a much higher importance of mobile apps than their marketing counterparts,” Adobe said. “This year we saw a year-over-year decline in the importance of mobile apps and mobile websites for marketers, with more ranking them as ‘very’ important versus ‘extremely.’ This might suggest that marketers are beginning to see mobile as a central component of an integrated strategy and no longer the hot new thing.”

Both groups said they’re somewhat more likely to focus their mobile efforts on apps over the mobile web with the top reason being broader reach and customer preference.

“At least two-thirds of marketers and IT decision-makers report apps being an extension of their web strategy,” Adobe said. “The primary functions and use cases for apps vary, but customer loyalty is still key to both audiences.”

Both IT pros and marketers said roughly one-third of their technology spend goes to apps or mobile sites—and retail companies report the highest overall tech spend for apps and mobile websites, with 42 percent of their budgets going toward apps and 45 percent toward mobile websites.

More than half of marketers said at least a quarter of their digital marketing budget is allocated to mobile acquisition, with an average of 34 percent. Adobe said a balanced approach to
 media—including paid, earned and owned—works best. But, for apps,
 paid media is chosen most often to drive
 customer acquisition, whereas owned media is preferred
 for mobile websites.

Adobe found IT professionals are more likely than marketers to
 measure app engagement and usage over time and said marketers “seem to be missing an important opportunity to learn more about their customers and their marketing efforts.”

Adobe also found IT professionals are more concerned than marketers about leveraging AI and other emerging technologies.

When asked how important leveraging AI will be to improve the mobile experience in the next three years, IT professionals said they are more concerned (53 percent) than marketers (34 percent).

Adobe found a similar split when it came to AR and VR experiences and the Internet of Things (IoT) and also that IT professionals are more likely to have a defined strategy for deployment or limited releases and tests in location-based marketing, IoT, AI, near-field communication (NFC) for content/offer delivery, personal assistants, chatbots, mixed reality, AR and VR.

“What has happened is that marketing—becoming increasingly digital—deals more with analytics and the need for real-time automation,” an Adobe rep said in an email. “The net effect is that marketing now becomes an important stakeholder when it comes to IT tech purchasing. It requires that the two teams work together, to implement and manage the tech stack that every company has. The two teams have to work together to drive having a clear/comprehensive view of the customer and be able to deliver a consistent experience on every touch point.”


Direct tax collection rises 19.5% to Rs7.44 trillion in Apr-Feb FY18

The gross tax collections, before adjusting for refunds, rose 14.5% to Rs8.83 trillion during the 11-month period of the current financial year. Photo: Mint

The gross tax collections, before adjusting for refunds, rose 14.5% to Rs8.83 trillion during the 11-month period of the current financial year. Photo: Mint

New Delhi: The direct tax collection has risen 19.5% to Rs7.44 trillion in the April-February period of the current fiscal, buoyed by a strong pick up in corporate tax.

The net direct tax collection represents 74.3% of the Rs10.05 trillion as per the revised estimates given in Union Budget 2018-19, presented in Parliament last month.

“The provisional figures of direct tax collections up to February, 2018 show that net collections are at Rs7.44 trillion which is 19.5% higher than the net collections for the corresponding period of last year,” a finance ministry statement said.

The gross collections, before adjusting for refunds, rose 14.5% to Rs8.83 trillion during 11 month period of the current financial year. Refunds amounting to Rs1.39 trillion have been issued till February. The growth rate for net corporate tax collections stood at 19.7% while for personal income tax is 18.6%.


Global smartphone sales fall for the first time in more than a decade

A customer purchases the new iPhone X at an Apple store on November 3, 2017 in Palo Alto, California.

A customer purchases the new iPhone X at an Apple store on November 3, 2017 in Palo Alto, California.

Global smartphone sales fell by 5.6 percent in the fourth quarter of 2017 — the industry’s first decline since 2004, according to a study from research firm Gartner.

Chinese smartphone makers Huawei and Xiaomi were the only vendors in the top five to experience year-over-year growth in the quarter, respectively by 7.6 percent and 79 percent.

“Upgrades from feature phones to smartphones have slowed down due to a lack of quality ‘ultra-low-cost’ smartphones and users preferring to buy quality feature phones,” said Anshul Gupta, research director at Gartner. “Replacement smartphone users are choosing quality models and keeping them longer.”

“While demand for high quality, 4G connectivity and better camera features remained strong, high expectations and few incremental benefits during replacement weakened smartphone sales,” Gupta said.

Samsung maintained the number one spot for global sales, growing market share from the fourth quarter of 2016, despite a 3.6 percent dip. Apple sales fell 5 percent year over year and Oppo sales fell 3.9 percent.

All five top vendors grew in global market share in the fourth quarter of the 2017, widening the gap between the leaders and the rest of the industry.

Smartphones sales for all of 2017 increased by 2.7 percent from the previous year to 1.5 billion.


Your Money: Five mistakes to avoid in investment journey

When you deal with your investments, you should be diligent enough in not making the same mistakes again and again. Your hard-earned money should give you the best returns and you should be well cognizant of what to do with this money.

Now let’s see some common mistakes that investors should not make:

Acting without a well-etched plan

It is always important not only to plan your investment but also to work out your plan. This blueprint enables you to have a fair idea of how you are going to proceed with your stocks, bonds, etc.

You have to be clear in your goals and should have a thorough understanding of your goals. When you are saving for retirement, you should have a well-defined objective. By now you would be thinking about the importance of a clear investment strategy. You should identify what type of assets you are going to proceed with for investment and which objective complements your plan. You should be able to understand the nature of your investments. It is good to have a written plan at the outset so that you know how you are faring with your goals.

Not keeping your emotions at bay

Relying only on emotions won’t be of much help. There should be prudence and rationalisation, especially in terms of investments. You may purchase a specific investment because you are tempted to do so. But you should ensure that you carry out comprehensive research before diving into it. We all rely on our gut feelings to a great extent. But unfortunately, this hunch is not impactful several times. Moreover, with regard to emotions, they are somewhat a paradox. They will sometimes lead you in the wrong direction. But investment strategies are not a cakewalk that always complement your gut feelings.

Ignoring your portfolio

Always ensure that you have a firm control of your portfolio. Do not interpret this as having to remain glued to your investments round the clock. However, checking it on a frequent basis would surely go a long way in assessing how you are performing.

Doing what everyone does

Here we have to be clear in one aspect. Each investor’s outcomes are different. For example, you would be deeply impacted by the actions of your friends, colleagues, etc. You can very well consult your friends, family, etc. But you should perform comprehensive research to be sure that it fits your needs.

Impatient for returns

When we are investing, impatience is one of the prominent emotions that cloud our judgement. We should remember that in the case of stocks and shares, these businesses function in a manner different from our expectations. It’s better to build a long-term strategy and follow it.

Moreover, it is not a wise thing to frequently shift your assets so that you get better returns. You have to wait and see how your investments actually perform. Don’t be just carried away by the recent performance of your investment. Assess the whole history and arrive at a well thought-out conclusion.

Startup funding slows in October; RIL commits Rs 3,000 cr investment at ‘Make in Odisha’ conclave

October turned out to be a somewhat dull month in terms of funding raised, closing at just $714.13 million across 51 deals. This was just 50 percent of the funding raised in October 2017 and just over 25 percent of what was raised in September this year. While September saw larger and more late-stage companies raise bigger funding rounds, October saw more M&As, including acqui-hires. YourStory Research recorded 30 exits in the Indian startup ecosystem last month, as compared to 20 in September.

With Make in Odisha, the Odisha government is keen to put the state on the fast track to development. The state’s flagship biennial event was inaugurated by Odisha Chief Minister Naveen Patnaik at Janata Maidan in Bhubaneswar on Monday. Mukesh Ambani, Chairman and Managing Director of Reliance Industries (RIL), announced that the company will invest Rs 3,000 crore in the state over the next three years. Most of this investment is aimed at creating Odisha’s digital infrastructure.

Odisha Chief Minister Naveen Patnaik

Verizon’s media technology division Oath promoted Rose Tsou, Head of Oath APAC, to Head of International for the business, effectively making her the first person to be appointed to this newly created role. In her expanded role, Rose is mandated with driving the strategic direction of markets outside of US and Canada, including India. In a conversation with YourStory, Rose spells out Oath’s growth strategy for the Indian market, how she went on to script Yahoo Asia’s success, and what motivates and drives her every day.

Rose with Jerry Yang, co-founder of Yahoo

Amazon Pay has raised funds from parent Amazon for the second time in a month. This infusion of Rs 220 crore is the ecommerce giant’s fourth fund infusion in Amazon Pay this year. Prior to this, in October, Amazon Pay had raised Rs 590 crore. However, heavy spends on sales and promotions led to an increase of 88 percent in Amazon Pay losses in India, the company’s recent filings with the Registrar of Companies revealed.

Amazon has invested Rs 220 crore into its payments arm

Hasmukh R Patil is on a mission to make tractors – and more importantly their operation – affordable for farmers. A farmer from Mandal near Ahmedabad, Hasmukh started by using scraps and automobile parts bought from different garages and mechanics and assembled and reassembled his tractor multiple times until he got it right. He has now assembled a solar-powered tractor that will help millions of farmers bring down their cost of cultivation, and reduce dependence on expensive fossil fuels.

Hasmukh Patil, Co-founder, Saur In Autosol Energy (extreme left) & Kunjan Patel, co-founder (extreme right)

Artificial intelligence (AI) is unlikely to be a big eliminator of jobs but the technology can create new openings, according to a Gartner survey, which finds that AI eliminates fewer jobs than expected. The survey reveals AI will change the workforce but its impact will not be detrimental to all workers. People will learn how to do less routine work, the report states, adding that they will be trained in new tasks, while old tasks that have become routine will be done by machines.


Indian marketers set to increase investment in ‘outcome-driven media’: Xaxis

The vast majority of digital media marketers across India are planning to increase their investment in the emerging field of ‘outcome-driven media’, found a survey conducted by Outcome media company Xaxis, which is also GroupM’s programmatic media arm.

The research conducted via an online survey in September 2018 on 500 Indian digital media marketers found that 97% of them would invest in ‘outcome-driven media’ to address growing media complexities and better understand the impact of their campaigns on business results.

The research assessed how satisfied marketers around the world were with their existing methods of measuring the success of digital display campaigns, especially in terms of how they deliver against their strategic business and marketing goals. It also asked what the main barriers were in moving to new metrics, and whether they were planning to increase their investment in ‘outcomes-driven media’, which the company defined as ‘planning and optimising campaigns against KPIs — often tailor-made for an advertiser or campaign — that are much more closely aligned to the marketer’s ultimate marketing and business goals’.

The results of the survey suggest that while outcome-driven media looks to be a critical area of increased investment, there is a mixed picture in relation to how marketers view ways of evaluating digital media success.

The majority (80%) of Indian marketers surveyed either strongly or somewhat agreed that evaluating digital media spend had become more difficult over the past five years and almost all respondents (90%) said they were very or somewhat likely to change the primary metric they used to measure campaigns over the next 12-24 months.

The research found that 92% of Indian marketers surveyed agreed that being able to link business objectives to digital media spend ‘positively impacted’ their marketing budget. And the same majority agreed that understanding how media can meet business objectives allowed their organisation to have a measurable advantage over competitors.

When asked what their organisation’s priorities were for media spend in 2019, the top answer (52%) was ‘increased efficiency’, followed by ‘Improving ad viewability levels’ (46%), ‘gaining full transparency of campaign performance’ (42%), and ‘gaining full transparency of campaign performance’ (37%). ‘Effective allocation of resources’ was the 5th-ranked answer with 34% of survey respondents.

The research also highlighted that 92% of Indian marketers want to work with a partner who can help them deliver against marketing and business objectives. In an era of complexity, Indian marketers seek experts who will help them handle massive sets of data and set up systems to measure their results.“This is an exciting time for us right now as the advertising industry in the APAC region continues to grow and advance. Survey results for the APAC market were closely in line with global trends, and indicate a clear need for marketing that can drive real world results that accrue to the bottom line. This approach will empower marketing to solidify its position as a centre for revenue enhancement, which could ultimately change perceptions of its role within the organisation,” said Arshan Saha, President, Xaxis Asia-Pacific.

Bharat Khatri, National Director, Xaxis India, added, “The findings demonstrate that Indian marketers are clearly looking to investing on outcome media as part of their strategy moving into 2019. They are recognising the need to measure themselves as well as have plans in place to reach out effectively to the large Indian market. The research also suggests that India marketers would like to work with partners to better understand the impact of their campaigns on business results. Based on the comparisons with the other regions, we can see that Indian marketers are opening up to recognising the need to change and implement newer strategies which is a positive shift.”


Hyundai India commits Rs 7,000-crore fresh investment in Tamil Nadu

Hyundai India commits Rs 7,000-crore fresh investment in Tamil Nadu

By: FE Bureau | Published: November 13, 2018 1:02 AM

Hyundai Motor India Limited (HMIL) will be making an investment of Rs 7,000 crore at its Chennai plant — for increasing the production capacity by 100,000 units per annum as well making 10 new models between now and 2025, including electric vehicles.

The statement said the company has promised to increase its production capacity by another 100,000 units, including 50,000 through CKD format and another 50,000 through CBU format.

Hyundai Motor India Limited (HMIL) will be making an investment of Rs 7,000 crore at its Chennai plant — for increasing the production capacity by 100,000 units per annum as well making 10 new models between now and 2025, including electric vehicles.
Senior officials of the company, including managing director and CEO YK Koo, BC Datta, vice-president, corporate affairs and N Ramesh, assistant vice-president, finance, met the chief minister Edappadi K Palaniswami at the Secretariat on Monday and informed him of the company’s fresh investment programmes and future plans, said an official statement from the state secretariat.

The statement said the company has promised to increase its production capacity by another 100,000 units, including 50,000 through CKD format and another 50,000 through CBU format. It has sought various incentives as offered by the state government during its earlier expansions.
Hyundai Motor also promised to Palaniswami that it will produce more than 10 models within 2025, including electric vehicles on the CKD format in the first stage and later will start manufacturing electric vehicles in India over the next 3 years.

This fresh Rs 7,000 crore investments is meant for increased production capacity, new models and powertrain altogether. It is expected to sign an MoU with the state government during the forthcoming Global Investors Meet to be held in January.
Quoting BC Datta, vice-president, HMIL, the statement said senior officials met Palaniswami to express the company’s proposed investment plans. The investments include expanding the present installed capacity from 700,000 units per annum to 800,000 units per annum. This include 50,000 units under CBU and another 50,000 units under CKD format to meet the export obligations of a few Asian and Southeast Asian countries.

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