Monthly Archives: November 2017

Walmart India to open 30 stores in next 3 years

Walmart plans to add 5-7 stores in the next year even as it begins piloting ‘dark stores’ or fulfilment centres for retailers, stockists and kirana stores buying from it, said Krish Iyer

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Mumbai: Walmart India Pvt. Ltd, the local arm of the world’s largest retailer, is set to accelerate growth of its store network in the country, targeting opening 30 stores in the next three years, a top company executive said.

The company currently has 21 Best Price modern wholesale stores in India. USA, LLC
Walmart is planning to add five to seven stores in the next calendar year even as it begins piloting so called “dark stores” or fulfilment centres for retailers, stockists and kirana stores buying from it, said Krish Iyer, president and chief executive officer of Walmart India.

“We have signed term sheets, agreements, contracts of 19-20 stores already. These are in various stages of construction,” Iyer said. It takes nearly 9-10 months after a groundbreaking ceremony for Walmart to launch a store in India. USA, LLC
Walmart India inaugurated its first fulfilment centre in Bhiwandi, near Mumbai, to fulfil orders coming “outside the box”, that is, from online orders and its business development associates. A second one will be launched in Lucknow. Nearly 50% of sales in Walmart India’s stores come “outside the box”, Iyer said. He declined to talk about investment numbers.

In July, Iyer said Walmart India has earmarked Rs900 crore to open 15 new stores in Maharashtra.

Walmart largely operates in the organized wholesale market along with competitors such as German retailer Metro Cash & Carry and UK wholesaler Booker Group.

surce; LIvemint: November 06, 2017

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Abbott to set up innovation hub in India


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Business News 07-Nov-2016

Global drug maker Abbott is setting up an innovation and development center (I&D) in Mumbai aimed at developing new drug formulations, new indications, dosing, packaging and other differentiated offerings to feed into its global branded generics business that clocked sales of $3.7 billion last year. The centre will act as a “hub” and ship products to at least 30 countries that will further develop the products to suit local needs. Abbott officials did not divulge the amount it is planning to invest.

Speaking to ET, Mike Warmuth, Executive VP, Established Pharmaceuticals division of Abbott said the proposed investments will result in doubling of its local scientific manpower like packaging technologists, formulation development specialists and clinicians. The centre will also have a pilot scale plant, he added. “We are investing in innovation and scale and we are doing it in areas where people…

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Thyrocare eyes Rs 1,000 crore biz by 2020


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source: Business Standard – 07-Nov-2016

Diagnostic laboratory chain Thyrocare Technologies is targeting revenue of Rs 1,000 crore by 2020 and plans to invest Rs 50 crore every year till then .

The company was expanding its network of laboratories, said A Velumani, chairman, Thyrocare Technologies.

Speaking to reporters on the sidelines of TiECON Chennai 2016, he said, “I have 1,200 franchisees, I want to take them to 5,000 by 2020 and I visualise a Rs 1,000 crore turnover by then.”

Franchisees will mainly cover taluk headquarters and cities. One franchisee is needed for 500,000 people.

By the end of 2020, Diagnostic laboratory plans to have a network of 25 laboratories across the country.

Thyrocare Technologies now has a laboratory each in Delhi, Mumbai, Kolkata, Hyderabad, Bhopal, Bengaluru and Coimbatore. Velumani said that going forward company would add five laboratories every year and invest Rs 50…

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Max Healthcare to invest Rs320 crore in Delhi cancer care centre


source: Livemint / 01-Nov-2016

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Max’s investment is part of a larger plan to develop its hospital in Saket into a master complex of verticals such as cancer, cardiac sciences and neurosciences

Max Healthcare Ltd will invest as much Rs320 crore to build a cancer hospital in Delhi.

The investment, part of a larger plan to develop its hospital in Saket, New Delhi, into a master complex of verticals such as cancer, cardiac sciences, neurosciences, transplants and diabetes, will go into setting up a cancer care centre with around 350-400 beds initially, Rohit Kapoor, senior director and chief growth officer of Max Healthcare, said in an interview.

Excluding land costs, setting up a bed at an oncology centre in Delhi-NCR costs about Rs80 lakh.

“We will be developing a dedicated facility for cancer care in Saket. Hopefully with that and the other hubs that we have, we want to…

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Marriott plans 200 hotels by 2020: Rajeev Menon


source:Business News / 01-Nov-2016

Kolkata: JW Marriott has become the undisputed king of hotels after the acquisition of Starwood. Rajeev Menon, chief operating officer, Asia-Pacific operations (excluding China) of Marriott International, tells Avishek Rakshit about the group’s plans to speed up its hotel count and focus on the mid-market and upscale brands. Edited excerpts:

What is the road map for the Marriott International group in India after the acquisition of Starwood?
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The road map is very much what we have done so far, except that it will be accelerated growth. Earlier, we were targeting 100 hotels by 2020, but with the Starwood acquisition, which makes us the largest player in India, we can safely say, we’ll be close to 175-200 hotels over the next four years. We’ll have 15 brands operating in India by this year.

In the mid-space and below, there is…

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India’s rank rises to 100 in World Bank’s doing Business Report, 2018

New Delhi: The World Bank, today released the Doing Business (DB) Report, 2018. The Department of Industrial Policy and Promotion (DIPP) is pleased to announce that India ranks 100 among 190 countries assessed by the Doing Business Team. India has leapt 30 ranks over its rank of 130 in the Doing Business Report 2017.

The DB Report is an assessment of 190 economies and covers 10 indicators which span the lifecycle of a business. The table below provides a comparison of this year’s and last year’s report. India has improved its rank in 6 out of 10 indicators and has moved closer to international best practices (Distance to Frontier score). The credit for this significant improvement is credited to the mantra of “Reform, Perform, Transform” given by the Prime Minister, wherein a strong leadership has provided the political will to carry out comprehensive and complex reforms, supported by a bureaucracy committed to perform. The Government has undertaken an extensive exercise of stakeholder consultations, identification of user needs, government process re-engineering to match Government rules and procedures with user expectations and streamlined them to create a more conducive business environment. An extensive exercise is also undertaken to increase awareness among users about reforms to ensure extensive use of newly created systems.

This edition of the report acknowledges India as a top improver, with an improvement of 30 ranks compared to last year’s report, the highest jump in rank of any country in the DB Report, 2018. India is the only country in South Asia and BRICS economies to feature among most improved economies of the DB Report this year.

2. Major achievements in the World Bank in the Doing Business Report

The important highlights of India’s performance are:

1.      Resolving Insolvency –

a.      Rank improved from 136 to 103

b.      Distance to Frontier (DTF) score improved from 32.75 to 40.75

c.      Strength of insolvency framework index increased from 6 to 8.5

d.      Insolvency & Bankruptcy Code created for efficient handling of restructuring & insolvency proceedings

e.       Professional institutes set up for handling restructuring & insolvency proceedings

2.      Paying Taxes –

a.      Rank improved from 172 to 119

b.      DTF score improved from 46.58 to 66.06

c.      Payments reduced from 25 to 13 in a year

d.      Time reduced from 241 to 214 hours

e.      Total tax rate reduced from 60.6% to 55.3% (% of profit)

f.       Post filing index improved from 4.3 to 49.31

g.      Enabled electronic registration, return & payment of ESI & EPF contributions

3.      Getting Credit –

a.      Rank improved from 44 to 29

b.      DTF score improved from 65 to 75

c.      Strength of legal rights index improved from 6 to 8

d.      Credit bureau coverage increased from 21.4% to 43.5% (% of adults)

e.      Increased coverage of security interest registration under SARFAESI Act

f.       Secured creditors prioritized over Government dues for purposes of recovery

4.      Enforcing Contracts –

a.      Rank improved from 172 to 164

b.      DTF score improved from 35.19 to 40.76

c.      Cost reduced from 39.6% to 31% (% of claim)

d.      Quality of judicial process index improved from 9 to 10.3

e.      Dedicated commercial courts established

f.       National Judicial Data Grid (NJDG) to monitor and manage court cases

5.      Protecting Minority Investors –

a.      Rank improved from 13 to 4

b.      DTF score improved from 73.33 to 80

c.      Strength of minority investor protection index increased from 7.3 to 8

d.      Extent of conflict of interest regulation index increased from 6.7 to 7.3

e.      Extent of shareholder governance index increased from 8 to 8.7

f.       Greater transparency requirements for interested parties transactions

g.      Greater shareholder protection through action against directors & claims for damages

6.      Construction Permits –

a.      Rank improved from 185 to 181

b.      DTF score improved from 32.83 to 38.80

c.      Procedures to obtain construction permits reduced from 35.1 to 30.1

d.      Time reduced from 190.0 to 143.9 days

e.      Cost reduced from 25.9 per cent to 23.2 per cent of warehouse value

source; Press Information Bureau – 31-Oct-2017

Amazon will continue to invest heavily in India, says Amit Agarwal


Amazon India chief Amit Agarwal says the $3 billion investment announced in June was on track as the firm is excited about the e-commerce momentum here

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