“We target to increase the capacity to 10 lakh units per annum from 6 lakh units at present," India Yamaha Motor national business head Roy Kurian said
Two-wheeler maker India Yamaha Motor said it will expand its production capacity by 4 lakh units next year with an investment of about Rs50 crore.
"We are targeting to increase our production and sales as we are witnessing very good demand for our products. We target to increase the capacity to 10 lakh units per annum from 6 lakh units at present," India Yamaha Motor national business head Roy Kurian said. The company will enhance the capacity of its Surajpur plant in Uttar Pradesh. Asked about the investment for this, Kurian said: "It will take about $10 million. We will only set up a separate line at the plant." India Yamaha Motor has another plant in Faridabad, where it manufacturers engines.
"We are targeting to sell 10 lakh vehicles in the domestic market by 2014. This year we are expecting to sell 3.3 lakh units in the domestic market," Kurian said. He said the company is aiming to sell 4.5 lakh units in 2012 and 7 lakh units in 2013. "On the export front, we are hoping to sell 1.7 lakh units in this year. It will grow in the next few years," Kurian said, adding the company is expecting to sell a total of 10 lakh two-wheelers in 2013.
Last year the company had sold a total of 3.8 lakh units, which included exports.
The company currently has a total sales point of about 1,200 outlets. "We are increasing our reach gradually. Next year, we will be adding 400-500 sales points," he said. The company is aiming to have 2,000-2,500 sales points across the country by 2014, he added.
India Yamaha Motor had reported 26.82% increase in its total sales in October 2011 at 47,240 units. During the month, the company's domestic sales stood at 38,229 units, up 20.25%. Exports rose by 65.04% to 9,011 units in last month.
Fortis will have a total of 68 hospitals in its network across India
Fortis Healthcare India said it will set up two new hospitals in Hyderabad and Agra as part of an ongoing expansion programme. “These two new projects are in line with our commitment to increasing the network and making quality healthcare accessible across the country,” Fortis Healthcare India chief executive officer Aditya Vij said. The company, however, did not share the planned investment on the two new hospitals.
The super-speciality hospital in Hyderabad with a 150 bed capacity will be functional in FY2013 and is the second project from the company in the city. The hospital in Agra will initially be a 75-beded cardiac care centre, which will expand into a multi-speciality facility and become operational by end of FY 2012.
Once the two new facilities go on stream, Fortis will have a total of 68 hospitals in its network across India. Fortis Healthcare plans to raise its operational bed capacity to 4,500 by end of March, 2012 from 4,000 now as new hospitals open up. Fortis commissioned its first hospital in 2001 at Mohali and has expanded its operations to become a pan-India network with 4,000 operational beds.
In the early afternoon, Fortis Healthcare India was trading at around Rs116 per share on the Bombay Stock Exchange, 0.64% down from the previous close.
According to Barclays Wealth Insight series, 82% of the Indian wealthy trust the next generation to protect their inheritance
According to a survey conducted by Barclays Wealth Insight series, 82% of the Indian wealthy trust the next generation to protect their inheritance. Globally, that number is 65% which states that 35% of the global wealthy do not trust their children to protect their inheritance. In India, 81% of the wealthy surveyed believed it is important to follow in their parents’ footsteps. This is in sharp contrast to countries in the West like UK (8%), the US (12%) and Australia (9%).
The report also highlights that inheritance of wealth at times leads to a burden on the next generation. 50% of the families in India feel that inheritance is a burden against 29% globally. The report, “The Transfer of Trust: Wealth and Succession in a Changing World”, is based on a global survey of more than 2,000 high net worth individuals. It provides an in-depth examination of wealthy individuals’ attitudes towards wealth transfer and succession planning, as well as offering an insight into what the future holds for the next generation. Interestingly, it also looks at how wealth in many cases can act as a double-edged sword, leading to distrust and conflict.
The report reveals that 40% of global wealthy have had direct experience of family wealth leading to disputes. This figure was the highest amongst respondents in India, with 61% of those surveyed stating that they have encountered family conflict due to wealth – a sentiment echoed by respondents in Singapore (53%), Hong Kong (51%) and Monaco (51%). Interestingly, 50% Indian respondents have disinherited a family member out of their will.
Despite all the potential tensions associated with succession and wealth, the report shows that the world’s wealthy (96%) remain committed to passing on their assets to the next generation, with only four per cent of global respondents feeling that this should not be the case.