ViVo, Oppo, Xiaomi need cheaper smartphone models to grow in India in 2017

China’s LOVE brands — Lenovo, Oppo, Vivo and Xiaomi — will have to introduce cheaper models in 2017 to continue their strong growth in India, CyberMedia Research said in a report. The reason? India’s replacement and upgrade market — Rs 10,000-13,000 — will no longer be the center of action in 2017 and to continue their growth, the Chinese brands must target the Rs 4,000-6,500 entry level segment. The youth of the country have largely bought decent Rs 10,000-13,000 smartphones (like Redmi Note 3/4) in 2015-2016 — the first time when such…

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Despite Demonetization, India will beat China in GDP growth: Fitch Ratings

Despite a moderation in India’s GDP growth rate in the short term due to cash crunch, the Indian economy will still grow faster than that of China, global ratings agency Fitch said. “We still expect India’s GDP growth to trend higher than China’s in the medium term,” said the agency, whose primary job is to advice bond buyers on risks involved in buying debt from countries and corporations. It said India will see a slight decline in GDP growth rate in the year ending March 2017, but will bounce back…

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India overdependent on China for medicines – study

India may have emerged as a key supplier of generic and affordable medicine for the world market, but it has an “overwhelming dependence” on China for the raw material required to produce these drugs, industry association Assocham said. Indian companies depend on China to supply them with the main raw material in drug making — known as Active Pharmaceutical Ingredient (API). The dependence is to the extent of over 65 per cent, an ASSOCHAM-RNCOS joint paper said. Though the government has taken steps like withdrawal of exemption in customs duties…

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Worries over China overdone, recovery in progress – Fitch

Fitch Ratings said in a new report that pessimism over China’s short-term outlook is overdone and a growth pick-up in the second half is already in the pipeline. ‘But expectations for the economy’s growth potential in the medium term are shifting lower as the scale of the restructuring challenge becomes clearer,” it said. Global capital markets have seen big corrections over the last few days over worrying signs that the Chinese economy has slowed down markedly and is unlikely to continue as the world’s growth engine. China is estimated to…

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Non-ferrous metal exports to China falls 36% in June

In the midst of debate on the impact of slowdown in the Chinese economy on rest of the world, India’s engineering exports have started witnessing a negative fallout with a drop of 36 per cent in export of non-ferrous metals to China in June, 2015, an analysis by the EEPC India has shown. Exports of these metals dropped to USD 85.09 million in June 2015 from USD 132.67 million a year ago. “China is the topmost importer for Non ferrous Metals importing around 19 per cent of India’s total export…

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Symphony Ltd buys Chinese manufacturer to enhance international play

World’s largest air cooler company, Symphony Limited has agreed to acquire Munters Keruilai Air Treatment Equipment (Guangdong), China, the Indian company said. “MKE is a market leading brand in China, producing energy-saving and environment-friendly evaporative air coolers under brand Keruilai,” said Symphony, a household name in India. MKE came into existence in 2011 as a joint venture merger between Dongguan Keda Electrical and Mechanical Equipment Co. Ltd and a Swedish company Munters AB. Commenting on the new acquisition in China, Mr. Achal Bakeri, Chairman & MD, Symphony Ltd said, “With…

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WTO confirms reciept of US complaint against Chinese export incentives

The United States has filed a ‘request for consultations’ with China at the World Trade Organization regarding “certain measures that allegedly provide export-contingent subsidies to enterprises in several industrial sectors.” The WTO said these sectors include textiles, agriculture, medical products, light industry, special chemical engineering, new materials, and hardware and building materials. “According to the US, China designates a cluster of enterprises in a particular industry as a Demonstration Base and then provides export-contingent subsidies to those enterprises,” WTO said, quoting the US plaint. “In addition, the US argues that…

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China to modernize Bangalore, Bhubaneswar railway stations

China has started work on examining if it can modernize two railways stations in India – Baiyyappanahalli in Bangalore and Bhubaneswar in Orissa – under an agreement signed in September, the ministry of railways said. In September, China and India signed an agreement facilitating Chinese help in increasing the speed on India’s railway network, modernizing railway stations and enhancing mutual cooperation in the sector. The feasibility study will be done by the Chinese at their cost at the two cities. “The development is envisaged at no cost to Railways by…

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After Xiaomi, Gionee and Oppo, it’s Vivo phones coming to India

After Xiaomi, Oppo and Gionee, it’s the turn of Chinese smartphone maker Vivo to have its phones made available in India. The company’s flagship, Vivo Xshot, will be available next week at a price of around Rs 25,000-30,000. Vivo will also launch the cheaper Vivo X3S, priced around Rs 16,000, with a five inch HD 720p display, a 1.7 GHz octa-core processor, 1 GB RAM and advanced cameras, but without LTE. It will be supplemented by the Y15, which too will have a similar display and processor, but will come…

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Huawei answers Xiaomi challenge with Honor Holly, Honor 6, T1, X1

Indians first got a taste of what low-cost marketing and production can achieve with the recent launches of Xiaomi Mi 3 and RedMi 1S. But now, one of the original price warriors of India’s handset market and a fellow Chinese brand – Huawei, has taken on the challenge posed by Xiaomi. The company has unveiled two handsets targeted at the Xiaomi Mi4, yes, that’s right, the next version of Mi3, and the RedMi 1S. The two models are the Huawei Honor Holly, priced Rs 6,999, and the Huawei Honor 6,…

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