Mercedes, GE, Toshiba, PepsiCo among Make in India investors
Domestic and foreign companies like Mercedes Benz India, General Electric, Toshiba and PepsiCo have made investments under the government's 'Make in India' scheme between 2014 and 2016, Parliament was informed on Tuesday.
"Investments have been made under the 'Make in India' scheme between 2014 and 2016 by domestic and foreign companies like Mercedes Benz India, International Tractors Limited, Jaya Montupet, Isuzu Motors, General Electric, Toshiba Transmission and Distributions Systems India Private Limited and PepsiCo," Minister of State for Finance Arjun Ram Meghwal said in a written reply to the Rajya Sabha.
The minister further said that after the launch of 'Make in India' campaign in September 2014, FDI
inflows have increased by 46 per cent during October 2014 to May 2016, from USD 42.31 billion to USD 61.58 billion in comparison to the previous 20 months (February 2013 to September 2014).
The 'Make in India' initiative was launched in September 2014 to make the country a manufacturing hub of the world. Moreover, Mercedes-Benz is planning to have petrol versions of all its models sold in India by September as it looks to tide over the Supreme Court ban on over 2,000 cc diesel cars in Delhi/NCR.
The company, which launched AMG 43 priced at Rs 77.5 lakh (ex-showroom Delhi), however remained hopeful that a solution would be found soon on the diesel ban in the region which traditionally has been the key market for the auto maker in India. “We will be complete with petrol engines in September.
Then we will have basically a petrol variant in each of our carlines available. It was a decision we made in the middle of last year,” Mercedes-Benz India Managing Director and CEO Roland Folger said.
Basically it gives customer a choice, he added. “Ten years ago roughly we had only petrol engines so it’s not that unusual for us. It gives customer a choice it is not so much about new segment really,” Folger said. Mercedes-Benz along with Jaguar Land Rover are among the worst hit by the ban on 2,000 cc and above diesel cars in Delhi/NCR.
When asked if their have been job losses at company’s dealerships in Delhi/NCR, Folger said: “In the last six months the dealerships in the region have been supported by our other dealers with more petrol options. So there have been no job losses as such.”
Yamaha sets up second R&D centre in India
New Delhi: Yamaha Motor Research & Development India, an arm of two-wheeler major Yamaha, has set up its second R&D centre in the country with an investment of Rs 66 crore to develop models for domestic and global markets. The new centre, which is located at Kanchipuram district of Tamil Nadu, has been established to ensure optimum utilisation of resources and focus on enhancing of the capability and capacity.