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MOTLEY COLLECTION OF BUSINESS AND ECONOMIC NEWS |
 Mobile base crosses 100-mn mark
India’s cellular subscriber base crossed the 100-million mark in May, with cellular operators, offering GSM, as well as CDMA services, adding a total of 4.3 million users during the month. While GSM operators roped in 3.2 million users, rival CDMA operators represented added 1.1 million users.
The all-India GSM subscriber base grew from 72.2m in April 2006 to 75.3m in May 2006, registering a growth of 4.2% over the previous month according to the Cellular Operators Association of India (COAI), which represents GSM players. Bharti Airtel retained the top position among GSM players, adding 1.2m users. Its total user base reached 21.9m, with a market share of 29%.
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 Textile companies on a roll
The textile sector has woven a fine success story for the second year in a row after the removal of quotas. Of the 116 companies which have declared their annual results so far, a few of them have not only come out of the red, but have posted handsome profits.
The success story has been led by textile majors Mahavir Spinning Mills, Alok Industries, Raymond, SRF, JBF Industries and Rajasthan Spinning and Weaving. These companies have contributed about half the revenues of the industry. Their profits have increased by an average of 50% since last year as the sector has been in the thick of M&A action and fund raising to implement projects.
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 Car companies drive in to source parts
Nissan, Fiat and Mitsubishi may soon join the league of global vehicle makers which source components from India through their joint venture (JV) partners. A two-way joint venture to provide product and technology to India and source components in return seems to be the flavour of the season in the automotive industry.
According to the recent manufacturing arrangement between Japanese car majors Nissan and Suzuki, Nissan models for emerging markets will be produced at Maruti’s facility in Gurgaon. The components required for producing these vehicles are likely to be sourced from Maruti’s suppliers in India, according to analysts.
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June 2006
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