Page 43 - IACC Newsletter August-September 2013 Issue 13

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Indo-US Corporate News
Harley Davidson sees high double-digit growth; to add 2 dealers
Car makers and bike manufacturers may be worried about falling sales, but the iconic Harley Davidson remains
unperturbed and will add two more dealers this year, company's Managing Director, Anoop Prakash said recently.
"At Harley Davidson India, we are enthusiastic about this market. We are a lifestyle brand. Last thing you do is to cut
down on your passion and Harley is all about passion. We have seen a steady growth here," Prakash told reporters here
at the India Retail Forum.
He also said the company has seen high double-digit growth in the market here. "We entered this market in 2009 and
between 2010 and 2013, we already have 2,000 Harleys on the road. We will continue to invest here. We just entered
Indore and will add two new dealers in Jaipur and Pune soon," he said.
The US-based iconic bike maker had earlier said it would start assembling three more models in the country resulting in
slashing of prices by up to Rs 4.55 lakh. It assembles models Fat Boy, Fat Boy Special and Heritage Softail Classic at its
Bawal facility in Haryana.
The Fat Boy is available at Rs 14.9 lakh (ex-showroom Delhi) as against the previous imported price of Rs 19.45 lakh.
Similarly, Fat Boy Special comes for Rs 15.6 lakh (ex-showroom Delhi) as against the imported price of Rs 19.70 lakh.
When asked about the impact of falling rupee, Prakash said there has certainly been an impact.
"Impact is certainly there, but we have not raised prices. A lot of our forex is managed at a foreign level. But we will
watch the situation," he said.
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EXL services eyeing US healthcare acquisitions
EXL, one of the three India-based BPO providers to be listed on a US stock exchange, is targeting the healthcare industry.
Business process outsourcing services company EXL Services is chasing healthcare acquisitions in the United States, as
the company sees rising demand for its services as a result of Obamacare rollout.
EXL, one of the three India-based BPO providers to be listed on a US stock exchange along with Genpact and WNS Global
Services, is targeting the healthcare industry as insurance companies in that country are looking to outsource more to
cut costs and comply with a new law-Obamacare-that makes it mandatory for all Americans to have health insurance.
A potential deal in this segment could be one of EXL's largest as its cash balances have swelled to over $100 million. In
addition, the company has the ability to borrow another $200 million, vice-chairman and CEO Rohit Kapoor said. "We
are now looking at acquisitions that are not so much India-centric, such as in the US, where there are some interesting
deals in the healthcare space," said Kapoor, who is also EXL's largest individual shareholder. He owns a 6% stake in the
company, which has a market valuation of about $950 million on Nasdaq.
EXL expects the contribution of the healthcare vertical to revenues to double - going up from around 10% currently to
about 20% in the next 3-4 years because of strong demand for services, including as fallout of Obamacare, which kicked
off this month.