Renault unveils cheap car for emerging markets
Guyancourt (France): Renault SA of France has launched its 5,000-euro ($6,139) car from the X90 family of vehicles with the main model Logan, targeted at emerging markets. The company is looking at achieving annual sales of four million vehicles by 2010. Renault hopes Logan will total at least 700,000 per year.

Renault sold 2.389 million vehicles last year, and hopes the X90 family will account for about 20 per cent of global sales and match its hit Megane model by 2010. The new cars will be priced in the euro 6,000 to euro 8,000 range depending on the version and where they are sold. The cheap cars will have hit showrooms in 30 countries within a year and will keep expanding. They will be built on six sites starting with Romania, then Russia from mid-2005, then Morocco, Colombia, Iran and most likely China.
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Panel set up to assist Wal-Mart source goods from India
New Delhi: The government is wooing the world's largest retailer WalMart to source its products from India. In keeping with the government has decided to set up an inter-ministerial committee to facilitate Wal-Mart's giant's purchases from the country. Wal-Mart purchases 90 per cent of its requirements from China at present. The Indian government is targeting to increase the US retailer's annual sourcing to $2 billion in around a year's time. The retail chain had recently come to India to shop for leather products.

It booked initial orders worth around $100 million with five Indian companies including Woodland, Mirza Tanners, Liberty and Farida Shoes. A high-level team from Wal-Mart is visiting India later this month to focus on increasing sourcing of home furnishings and gems and jewellery items. Through its buying office in Bangalore, Wal-Mart has also been sourcing products like towels from companies like Trident, Welspun and gift articles from Moradabad-based Designco and Mangal Exports from Mumbai.

In addition to Wal-Mart, the government is hardselling India as a sourcing base for other retail chains like Tesco of the UK, K-Mart, Target Corporation, JC Penney and some sports goods retailers to increase the country's share in total procurements made by these giants.
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