India : Updates

Two major investments in India are reported in The Edge (18/9 & 21/9/06) pertaining to:

·      IBM, the world’s largest computer services company, will add up to 3,000 new staff in the eastern Indian city of Kolkata to augment its global delivery service capability,  

·      In June, IBM said it would invest US$6 billion (RM22.03 billion) in India over three years as a part of its move to increase outsourcing services and client management from Asia’s fourth-largest economy

·      Hyundai Motor Co is expected to announce this week it will set up an engine and transmission plant in India,

·      Some local news reports indicated the plant is likely to have an annual capacity of 150,000-300,000 units and require an investment of about US$500 million (RM1.8 billion).

·      South Korea’s top automaker started making cars in India eight years ago, having invested US$650 million in a 300,000-units-a-year plant outside the southern city of Chennai.

·      It is now building a US$500 million factory at the same site with the same capacity. The new car plant will start operations in October 2007.

·      In case you might not be aware is that Hyundai is India’s second-biggest car maker after Suzuki Motor Corp’s Maruti Udyog Ltd .

·      It expects its sales to reach 300,000 units in 2008, for a quarter of the market, up from its current share of about 18%.

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