| Carhartt
to source Indian textiles |
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Workmen clothing company, Carhartt,
which till date sourced only from US and Europe,
is now eying India as a good sourcing hub. The
US-based Company plans to buy $ 40 min dollars
worth of fabric and garments from Indian manufacturers.
Some of the suppliers already
short-listed include names like Arvind, JCT, Asmiha,
Alok Industries and Maral Overseas.
The Carhartt team is scouting
for as many as 14 to 15 commodities in the Asian
market, in view of phasing out of quotas in the
world textile trade.
Carhartt is keen on buying
denim and knitted items from India. Plans are
to source approximately 2.0 lakh metres of fabric
from India, which could be scaled to 20 lakh metres
per annum. The company is also looking for turnkey
garment suppliers.
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| Blackstone
to plans India operations |
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New York-based
Blackstone Group will launch operations in India
with an investment of $1bn.
A private investment and advisory firm, Blackstone’s
private equity fund manages $14bn globally, also
invests in real estate and corporate debt, and advises
firms on restructuring.
Announces its
plans Stephen Schwarzman, chairman and chief executive
said "We believe that India has enormous potential
and that foreign direct investment can play a significant
role in supporting the country's growth". |
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| Lucent
to expand India operations |
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A global leader in system,
service and software development for next-generation
communications network, Lucent Technologies is
expanding its software development processes in
India. The New Jersey-based Company plans to increase
its Indian headcount by 400 by end of the year.
Lucent currently has a total
headcount of 1,400 people at its two Indian software
development centres in Bangalore and Hyderabad.
Commenting on the decision,
C S Rao, president & CEO, Lucent Technologies
Hindustan said that it was part of the Companies
regular process of expansion in India. The two
Indian R&D centres are currently engaged in
developing software packages for the telecom sector.
Lucent also plans to conduct basic software research
in India in the hope of some breakthroughs and
patents.
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| GE
to make India a manufacturing hub |
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US conglomerate
General Electric Company recently announced plans
to make India a major manufacturing hub. Besides
it also plans to expand its spread in the country’s
financial services and industrial sciences sectors
through the acquisition route.
| “This
is the right time to invest in India,
and we will be bold in the market here.
The political situation is stable, there
is a continuously growing middle class
and the dynamics of Indian companies
are changing... We are moving into the
third phase of our investments in India
and will be establishing a manufacturing
base with investments in infrastructure’’,
said GE CEO Jeffrey Immelt.
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Some of the key
interest areas for GE include energy, infrastructure,
transportation, financial services and materials.
GE Healthcare
has also entered into an agreement with Dr Naresh
Trehan for establishing a modern diagnostic and
R&D facility- Medicity- in Gurgaon. GE will
provide technology for high-end diagnostic tools,
clinical research and development and eco-friendly
solutions. |
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