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India : Truth alone Triumphs - 3 (India Trade)

Tata Motors paid $118 Million to buy Daewoo commercial vehicle Company of Korea.

Ranbaxy, the largest Indian Pharmaceutical company, gets 70% of its $1 billion revenue from overseas operations and 40% form USA.

TATA TEA has bought Tetly of UK for l-260M.

India is one of the World's largest diamond cuting and polishing centers, its exports were worth $6 Billion in 1999.

About 9 out of 10 diamond stones sold anywhere in the world, pass through India.

Garment exports are expected to increase from the current level of $6 Billion to $25 billion by 2010.

The country's foreign exchange reserves stand at an all-time high of $120 Billion.

India's trade with China grew by 104% in 2002 and in the first 5 months of 2003, India has amassed a surplus in trade close to $0.5M.

Mobile phones are growing by about 1.5 Million a month. Long distance rates are down by two-third in five years and by 80% for a data transmission.

Wal-Mart sources $1 Billion worth of goods from India - half its apparel. Wal-Mart expects this to increase to $10 Billion in the next couple of years.

GAP sources about $600 Million and Hilfiger $100 Million worth of apparel from India.

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