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Indian Animation Sector To Grow At 20%: Study
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| 03. TRADE & ECONOMY |
| Direct tax collection rose by 17.2 per cent till September 2010: Revenue Secy |
| IBEF: October 29, 2010 |
New Delhi: The direct tax collection rose by 17.2 per cent to US$ 45.37 billion till September 2010, which is 47 per cent of the budgetary target for 2010-11, according to Mr Sunil Mitra, Secretary, Department of Revenue, Union Ministry of Finance.
Mr Mitra further said that the targetted tax collection (both direct and indirect) for 2010-11 is US$ 167.3 billion. "Of this, US$ 70.73 billion will be through indirect tax and US$ 96.6 billion through direct tax."
Looking at the current growth and scenario in the country, tax collection in 2010-11 would increase by around 19 per cent compared to last fiscal.
Revenue from customs between April and September 2010 was US$ 14.1 billion as compared to US$ 8.51 billion in the corresponding quarter last year, an increase of 65.5 per cent.
Central excise collection stood at US$ 13.6 billion, as against US$ 9.71 billion, an increase of 39.6 per cent, while the service tax collection rose by 16 per cent to US$ 6.04 billion from US$ 5.21 billion, he added.
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| Indian animation sector to grow at 20%: Study |
| The Hindu Business Line, Oct 28, 2010 |
Chennai: The Indian animation industry is expected to grow at 20 per cent to reach $253 million by 2013 from the current $122 million, according to a study jointly brought out by Assocham and Deloitte, released at a two-day conclave — Focus 2010.
The study says that TV will contribute 55 per cent of the overall animation entertainment market, followed by an approximately equal share of movies and the DVD segment.
The Indian animation industry primarily caters to the US and the UK markets, and the size of the domestic market is only 30 per cent, the study said. According to Assocham Southern Regional Council Chairman, Mr Ravindra Sannareddy, the US has the largest number of animation movie releases and is home to the two largest animation movie studios in the world — Disney Pixar and Dreamworks . As of now, the major markets for gaming are the US, Europe and Japan. The US market is the highest contributor to the revenues of leading game publishers/developers in the world, namely Nintendo and Electronic Arts.
However, China is the fastest growing market for gaming. Most of the animation and gaming intellectual properties originate from these countries, he said.
The study reveals that the Indian domestic animation and gaming market is less than 1 per cent of the global animation and gaming market, thus indicating huge scope for growth.
The Indian gaming market alone has been estimated at $239 million and is expected to grow at a compounded annual growth rate of over 50 per cent to reach $1.3 billion by 2013.
The global gaming industry has been growing at 21 per cent a year to reach to $40 billion this year, and $59 billion by 2013, the study said.
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| 25 per cent of total FII inflows in 2010 registered in October |
| IBEF |
New Delhi: Foreign institutional investors (FIIs) injected a record US$ 6.4 billion in October 2010, which was almost 25 per cent of the total inflows in the stock market registered so far in 2010. Total net investment by FIIs on the local stock exchanges is currently US$ 24.79 billion, the highest in a single year.
The significant increase in October was trigerred by overseas fund houses, the net buyers of Indian equities amounting US$ 6.4 billion during October, according to the data available with capital market regulator Securities and Exchange Board of India (SEBI).
Furthermore, CRISIL sees the country's gross domestic product (GDP) growing by 8.2 per cent in the 2010-11 and continuing with the same momentum for the next decade on account of rising consumption in the Indian market.
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| Kawasaki sets up Indian subsidiary |
| The Hindu Business Line, Oct 30, 2010 |
Pune: Kawasaki Heavy Industries, Japan, has set up India Kawasaki Motors Pvt Ltd (IKM), a fully-owned subsidiary based in Pune, to propel sales of its motorcycles in the country.
The event also marked the sale of 1,000 Kawasaki Ninja 250cc bikes in India, through Bajaj Auto Ltd's Probiking (Bajaj Probiking, is a chain of Bajaj aut showrroms, where only high capcity bikes are on sale) outlets in a year's time. Mr Yoshihiro Tanigawa, Managing Director, IKM said, “This will be our base for mid to large segment bikes.” The company plans to focus on the sports bikes series now, and introduce other categories, later. The 250cc motorcycle is currently brought to India as a CKD model and assembled at Bajaj Auto's Chakan plant in Aurangabad.
At present, production is at around 100 units a day which can be ramped up to 200 units a day with additional manpower allocation. Mr Tanigawa said that Kawasaki was studying whether some parts could be procured locally for use in its motorcycles. “We have started looking what parts will be good,” he said, adding that some local content in the assembled bikes could come in. Bajaj, which introduced the Kawasaki Ninja 250 last October, will work closely with Kawasaki to evaluate other products that can be brought in.
“Our strategy is to bring premium biking (to India) and we will continue to bring contemporary and appropriate biking,” he said.
He ruled out single cylinder motorcycles at this stage. With the objective of building the Ninja brand as a mega-brand, BAL will extend its network of Probiking outlets, currently 32 across the country, and offer full service even outside of these locations, Mr Vas said.
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| India-centric vendors improve share in outsourcing deals |
| The Hindu Business Line, Oct 29, 2010 |
New Delhi: The global outsourcing market remained steady during third quarter of 2010 with 503 deals, marginally higher than the 498 deals announced in June quarter, fuelled by the return of discretionary spends in IT space.
Interestingly, September quarter saw India-centric vendors sequentially improve their share in total global sourcing landscape to 16.7 per cent, compared to 16 per cent in June quarter, and 13.5 per cent in March quarter, according to global research firm Everest's Q3 snapshot that tracks new deals announced in the market.
Deals in Q3
As many as 84 of the overall 503 deals, came to India-centric service providers in Q3. The Indian providers had cornered 80 of the 498 deals in Q2, 2010, and 61 of the 450 deals in Q1, 2010.
Some of the prominent deals bagged by India-centric suppliers include an outsourcing contract that came to Wipro from Central Bank of India for providing technology-driven and core banking solution for seven sponsored Regional Rural Banks. Wipro Technologies, the global IT services business of Wipro Ltd, also entered into a five-year agreement with steel company, ArcelorMittal, to consolidate and migrate its messaging systems to the Microsoft Exchange 2010 messaging platform.
“Overall, the market is better than last year, when 422 deals had been announced globally in Q3 of 2009. Seen sequentially, the market is holding steady with regard to transaction volumes, while the annual contract value is up,” said Mr Amneet Singh, Vice-President, Global Sourcing, Everest.
The annual contract value rose to $3.4 billion in the just ended quarter, higher than $3 billion in Q2 2010 and $2.3 billion in Q3 2009.
“There was good growth in IT but the market was dampened by sluggishness on the BPO side. In IT, the discretionary spends are back and companies are planning for the next level of growth or looking at new enterprise applications. All this is having a positive spin-off on deals signed,” he said.
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