High-speed train Talgo might come early next year as government plans to lease two rakes from Spain

Source: The Economic Times, Dec 12, 2016

NEW DELHI: A Delhi-Mumbai highspeed train that runs four hours faster than the prestigious Rajdhani Express may be a reality early next year as the Indian Railwaysis poised to lease two rakes from Spain’s Talgo that can run much faster on the same track.

Talgo Chief Executive José María Oriol, who was in India last week, told ET the proposal for leasing rakes that can complete the 1,384 km journey in less than 12 hours was discussed with the Railway Board. He said the company was ready to manufacture in India if it gets a contract.

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Officials said the government may go for a three-year lease for the Spanishmade rakes. “In principle, we want to get two rakes on immediate basis,” a top railway official said on condition of anonymity.”

However, the innovation committee of Niti Aayog has to approve it. We could acquire a preferential technology without going through the bids as well given that the innovation committee approves it.”

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Spanish fashion brand Massimo Dutti to make India debut in Delhi

indexSource: Business Standard, May 04, 2016

Mumbai: Massimo Dutti, the Spanish premiumfashion brand from the Inditex stable which also owns Zara, is entering India after years of wait due to regulatory hurdles. Its first store will open in a Delhi mall with 5,027 sq ft of retail space. Globally, Massimo Dutti has 755 stores across 73 countries.

The Zara group competes with Sweden’s H&M, which entered India last year. The Foreign Investment Promotion Board (FIPB) had in 2012 rejected the proposal for Massimo Dutti citing violation of a rule framed by the Department of Industrial Policy & Promotion (DIPP) that says an investor must own the brand it is proposing to bring to India. In the case of Massimo Dutti, the application was made by Zara Holdings Netherlands, but the brand is owned by Euro 13.8-billion Spanish retail chain, Inditex.

Zara leases largest retail space by international brand in India

Source: The Economic Times, Apr 12, 2016

MUMBAI: In the largest ever space transaction by any international retailer on high streets across the country, Spanish fashion chain Zara has picked up 50,000 sq ft carpet space in South Mumbai’s most prime location of Flora Fountain, said two persons familiar with the development.

The world’s biggest fashion retailer has leased the space on the ground floor of Ismail Building diagonally opposite HSBC’s India head office located in Fort.

The retailer will be paying an astronomical annual rent of Rs 30 crore and the lease will run for tenure of minimum 15 years with a five-year lock in. “The transaction has been inked and Zara will start working on its interiors in the next couple of weeks. Monthly rent for the same Rs 2.5 crore,” said one has been set at of the persons mentioned above.”The brand was looking for an apt location with blend of vintage and contemporary outlook and Flora Fountain fit the bill perfectly .”

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Minda Industries acquires Spain based Rinder for Euro 20 million

lighting equipment india rinderNEW DELHI: Auto component manufacturer Minda Industries today said it has acquired the global lighting business of Spain-based Rinder Group for Euro 20 million.

The acquisition includes 100 per cent equity holding in Rinder India and Light Systems and Technical Centre in Spain; and 50 per cent equity holding in Rinder Riducu, Colombia. The deal will be financed through internal accruals and the debts.

NK Minda, chairman, UNO Minda Group said: “This acquisition will establish Minda Industries as a technology leader in lighting solutions and will further augment the R&D capabilities of the company.”

The lighting business of Minda Industries at present has a turnover of around Rs 300 crore per annum. This is set to increase to around Rs 750 crore on account of the new acquisition. The acquisition will give Minda access to Rinder India’s three facilities in the country across Bahadurgarh, Haryana and at Chakan and Pimpri, Maharashtra.

Spanish beer giant Mahou SA eying launch of San Miguel beer in Indian market

imagesMADRID: Spanish beer giant Mahou SA is eying a potential launch of San Miguel beer to boost its presence in the Indian market. Mahou, which owns he trademark in Europe, has had early discussions with San Miguel Corporation (SMC) of Philippines in this regard.

The Manila-based food and beverage giant holds the rights or San Miguel in India.

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Train from Spain: Government gives nod to Talgo for trial runs of faster trains between Mumbai, Delhi

Source: The Economic Times, Jul 24, 2015

NEW DELHI: The Modi government has given an in-principle nod for Madrid-based locomotive-maker Talgo to undertake trial runs of its lighter and faster trains that could cut travel time between Mumbai and Delhi from 17 hours to 12 hours without overhauling India’s ageing rail tracks.

Talgo Chief executive officer Jose Maria Oriol, who met Prime Minister Narendra Modi on Thursday, told ETthey are hopeful of bringing their trial train to India by October or early November at their own cost and risk to demonstrate its advantages. A formal nod is all that is awaited to start the process for shipping the train from Spain to India. “Most of the technical part has been solved, now it is the practical part of doing it. Up to now, we have an informal approval. What we need is a piece of paper to say: go ahead. I don’t think it would take too long after this set of meetings,” Oriol told ET, stressing that the company would bear the costs to bring the train from Spain with its technicians for the test runs.

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Zara becomes the first apparel brand in India to cross $100-million sales mark

ZARASource: The Economic Times, Jul 10, 2015

MUMBAI: Spanish fashion brand Zara has become the first apparel brand in India to cross the $100-million sales mark, five years after it opened its first shop here.

Inditex Trent, the joint venture between Zara brand owner Inditex and Tata Group’s retail arm Trent, posted 24% annual growth in sales for the year ended March 2015 at Rs 721 crore ($114 million), Trent said in its annual report released on Thursday. In FY13-14, it had sales of Rs 580 crore. However, sales growth has nearly halved from a year ago period when, it was 43%.

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