Re: India Growth Continues...Now Manufacturing
Indian business has one problem and that is the government of India. There is corruption on a scale that few countries in the world can match and it does not end - filing sales tax papers, excise papers, income tax returns etc all require bribes to be paid not to mention importing or exporting anything. That Indian business has been able to do well DESPITE this criminal activity of the Indian government is a testament to the hard work of businesspeople there. Considering all of this, it is going to be a long time before India is a real power of any consequence. Kleptocracies can never be great powers - history has shown that very emphatically.
Re: India Growth Continues…Now Manufacturing
Can you also provide the net value of the investments in USD, for the top 3? The number of projects don’t mean anything.
Re: India Growth Continues…Now Manufacturing
http://ia.rediff.com/money/2006/jul/17hal.htm
HAL, 45th in world’s top 100 defence firms
July 17, 2006 16:08 IST
Hindustan Aeronautics Limited has climbed six notches to reach the 45th position in the list of top 100 defence companies in the world.
The list released by US-based Defense News has Lockheed Martin in the number one position followed by Boeing, Northrop Grumman, BAe Systems and Raytheon in the top five, according to a HAL release in Bangalore on Monday.
The ratings were given based on a company’s sales and turnover, and HAL’s ‘leap forward’ from the 51st slot is being attributed to a series of upgradation programmes and new projects, the Bangalore-headquartered company said.
Reacting to the rating, HAL Chairman Ashok K Baweja said: “. . . we are hopeful of breaking into the top 25-35 next year.”
HAL’s director (finance) D Shivamurti said, “We will further our rankings next year and our current order book position is just a pointer to that.”
The state-run company has joined the select group of billion-dollar firms by recording annual sales of over Rs 5,335 crore (Rs 53.35 billion) in 2005-06, marking a 18.5 per cent growth over the previous year.
The value of production has gone up by 16.4 per cent at Rs 5,750 crore (Rs 57.50 billion), while HAL’s profit before tax soared to Rs 1,250 crore (Rs 12.50 billion), an increase of over 32 per cent over the last year’s performance, the release said.