It took 33 years for India to increase its per-capita annual income from $100 to $500, but only five years to double it from $500 to $1,000. It's not surprising then, that Indian industry reported huge rises in sales in June: cars (34 per cent), refrigerators (32 per cent), air...
Warren Buffett enters India via Berkshire Hathaway
Berkshire Hathaway, promoted by billionaire Nebraska investor Warren Buffet, will become part of India’s auto insurance market. Berkshire Hathaway will position itself with an existing Indian corporation, Bajaj Allianz General. Entrance through an existing corporation is in response to Indian law which prohibits high level of direct foreign investment in...
Automotive market growth best in a decade
The Society of Indian Automotive Manufacturers reports a 64% increase in the sales of commercial vehicles for April 2010 compared to April 2009. 49,086 commercial vehicles were sold in India last month. The passenger vehicles segment in April 2010 grew at 34 percent over same month last year. Indian companies...