How Mukesh Ambani’s Reliance Jio shook up India’s telecom market

Source: LiveMint.com, Oct 17, 2018

Within two years, India’s richest person turned the local mobile-phone market into the world’s biggest consumer of wireless data. But along the way, billionaire Mukesh Ambani laid waste to profits in the overcrowded industry by driving down prices to as low as zero.

Ambani leads Reliance Jio Infocomm Ltd., which has gone from zero to more than 200 million subscribers, all of them on a nationwide 4G network, since 2016. While the user growth has come at the expense of smaller rivals who’ve merged or quit the market, the thrust into the country’s No. 3 spot for wireless carriers has also ravaged profit at Bharti Airtel Ltd., and Idea Cellular Ltd. The latter has merged with Vodafone Group Plc’s India unit to overtake Bharti as the market’s biggest operator. Read the rest of this entry »

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Tata Motors eyes tie-ups with Ola, Uber with new shared mobility platform

Source: LiveMint.com, Oct 17, 2018

New Delhi: Tata Motors Ltd has created a separate division to explore ways to tap its entire range of passenger and commercial vehicles for offering shared mobility solutions, said two people aware of the development. Named Mobility Innovations Hub, the new department is headed by Pankaj Jhunja, formerly with Tata Technologies, said the people cited above, who did not want to be named.

The new department will also look at collaborating with startups such as Ola, Uber and other freight aggregators. Tata Motors is the first auto maker in India to create a separate division exclusively for shared mobility as the company manufactures an entire gamut of vehicles needed for last mile connectivity ranging from small cars to trucks and buses.

Confirming the appointment of Jhunja to run the shared mobility business, a spokesperson for Tata Motors said Jhunja will report to Shailesh Chandra, president, electric mobility business and corporate strategy. Read the rest of this entry »

India will add 8.5-GW renewable energy in FY19, says ICRA

Source: The Hindu Business Line, Oct 17, 2018

Mumbai: The country’s renewable sector has so far seen a robust bidding activity providing a reasonably healthy visibility for solar and wind capacity addition in the next two fiscals, ICRA experts said. They expect capacity addition of about 8-8.5 GW in FY19.

The share of renewable energy in overall installed power generation capacity has increased from 9 per cent in March 2009 to around 20 per cent (which translates to capacity of around 71 GW) as on June 2018, rating agency ICRA said in a report.

ICRA expects the share of renewables in the total generation mix to increase by 5 per cent in next four years – from 7.7 per cent in FY18 to 12-13 per cent by FY22.

The bidding activity in the renewable energy sector has remained sizeable with central nodal agencies like the Solar Energy Corporation of India (SECI) and NTPC Ltd (NTPC) as well as state distribution utilities issuing bids for wind and solar power capacities of about 10 GW and 15 GW respectively during calendar 2017 and 2018 years. While this auger well for the sector, several key concerns remain. Read the rest of this entry »

US-China trade war may bring $8.7 billion bonanza for Indian exports to America

Source: Financial Express, Oct 17, 2018

The extra US tariffs on its imports from China in the ongoing trade war have opened a window of opportunity for India to push for higher exports in 171 items — ranging from textiles to marine products — with additional outbound shipment potential of up to $8.7 billion a year, according to a latest commerce ministry study.

The Trump administration has announced extra levy of up to 25% on $250-billion Chinese supplies in two phases, which will make scores of Indian products more competitive than China’s in the US market. The first round of higher duties on $50-billion Chinese goods has created the space for India to tap the export window in close to three dozen items with potential annual supplies of $2.1 billion, sources told FE. Read the rest of this entry »

Flipkart, Amazon festive sales hit $2 billion

Source: ETRetail.com, Oct 16, 2018

BENGALURU: Flipkart and Amazon’s annual Dussehra sales that just concluded are estimated to have touched $2 billion, about a third more than last year, reflecting improved customer sentiments.

Business consulting firm Redseer said the top e-commerce platforms – including also Paytm Mall, Snapdeal and others – generated sales of $2.3 billion. Before the sale started, it had predicted total sales between $2.5 and 3 billion.

Forrester Research said Flipkart alone did close to $1 billion of gross sales. It said Amazon narrowed its gap with the home-grown e-tailer this year, compared to the last. All of these numbers will be finetuned over the next few days as more data flows in.

Last year, top e-commerce firms had estimated to have done under $1.5 billion in sales. The sentiment last year was adversely impacted by GST implementation, and the lingering effects of demonetisation. Read the rest of this entry »

Carrier looks to tap opportunities in India market

Source: ETRetail.com, Oct 16, 2018

New Delhi: Commercial cooling products maker Carrier on Monday announced the launch of its new technology development centre at its Gurgaon facility, as part of efforts to consolidate its position in the Indian market. The company is eyeing the opportunities coming in the commercial and light commercial air-conditioning segment here as large number of offices, commercial buildings, airports, hospitals etc are coming here.

“We are looking for situation by localising more and more products in India, under make-in-India campaign and for that we are augmenting our engineering capabilities,” UTC Climate, Controls & Security Managing Director, India, Arun Bhatia, told .

The new facility features state-of-the-art laboratory and testing facilities would aid in the development of Carrier heating, ventilating and air conditioning (HVAC) products; and will serve as an engineering hub in the region, the company said in a statement. Read the rest of this entry »

India becomes second largest solar market; installs 4.9 GW in H1

Source: The Hindu Business Line, Oct 15, 2018

Mumbai: India installed 4.9 GW of solar power, consolidating its position as the second largest solar market in the world, during the first half of calendar year 2018. The country was ranked second, following China during the January-June period, according to a report by Mercom Communications India.

India was the fifth-largest solar market in the world for total installations, the study, ‘India Solar Market Leaderboard 1H 2018’, said. “New leaders are emerging in the highly-competitive Indian solar market, while some of the more established companies maintained their leadership position in the first half of 2018,” said Raj Prabhu, CEO of Mercom Capital Group. Read the rest of this entry »