| Retail |
India
to be a $450 bn retail market by 2015 |
| |
With India poised to be a $450 billion retail
market by 2015, the panelists during a session on ‘Innovations
towards sustainable consumer markets’ called for a better
understanding of the challenges India faced on its road to
the target |
| Policy |
Soon,
Foreign cos may not need to Consularise documents for entry
into India |
| |
As it tries hard to attract investments in
the face of the global economic slowdown, India today said
it was relaxing documentation for foreigners to start a business
in the country. Foreign companies would no longer need to
get their documents certified at the Indian embassy or high
commission in their respective countries and new rules would
shortly come into place. |
| Policy |
Foreign
cos' services under brand names to be taxable: ITAT |
| |
Foreign firms may now get wary of letting
Indian companies use their brand name as the income from providing
technical solutions under |
| IT/ITES |
Pega
to invest $200 million |
| |
Pegasystems Inc, a US-based provider of business
process management (BPM) software, will make an incremental
investment of around $200 million in research and development
and other operations in India over the next five years, said
company’s founder and chief executive officer Alan Trefler. |
| Services |
Jivox
expands footprint, opens sales office in Mumbai |
| |
Spurred by a significant growth in its business,
on-line video advertising services provider Jivox India opened
a sales office in Mumbai. |
| Policy |
New
guidelines to ensure no misuse of test marketing route by
foreign cos |
| |
The government is all set to slam the brakes
on foreign companies getting repeated extensions for test-marketing
licences only to misuse the facility to carry out retail trade. |
| Consumer Products |
EA
scouting for outsourcing firms in India |
| |
The world’s largest game developer, Electronic
Arts Inc. (EA), is scouting for Indian partners to outsource
game development and reduce costs |
| Destination |
American
SMEs eye Indian mkt |
| |
The global economic slowdown has forced small
and medium firms in the US to explore the opportunity of doing
business in India. American companies see excellent opportunities
in part due to India’s average annual growth rate of more
than 7 per cent, its fast-growing middle class of nearly 400
million and the country’s favorable impression of US products
and services |
| Mining |
Australia's
IRL eyes alliances with Indian mining sector |
| |
West Australia-based India Resources Limited
(IRL) is looking at forming more alliances with Indian private
and public sector units in the mining sector especially in
base metals, copper, gold and diamond category for carrying
out extensive exploration and mining activities based on the
outsourced model. |
| IT/ITES |
McKinsey
seeks permission to expand ITeS biz in India |
| |
McKinsey Knowledge Centre, a McKinsey Holdings
Inc arm, has sought government’s permission to set up a foreignowned
Indian holding-cum-operating company to expand its IT-enabled
services (ITeS) business. The proposed venture will also make
downstream investments |
| Pharma |
Glaxo
expands its R&D base in India |
| |
UK-based GSK Consumer Healthcare (GSKCH) has
partnered with Kemwell, a Bangalore-based contract manufacturer
of pharmaceutical products, to set up research and development
(R&D) facility in Bangalore. The R&D centre is to
cater to GSK’s global oral healthcare product development
projects |
| FDI policy |
RBI
allows 49% single-entity FDI in credit info companies |
| |
The Reserve Bank of India (RBI) has allowed
up to 49 per cent foreign investment in credit information
companies (CICs) by a single entity |
| Consumer Products |
Italian
wine makers make a splash in India |
| |
Premium Italian wine makers, including Caviro,
Cavit, Cantine and Geograficao, are exploring the possibilities
of entering India, one of the fastest growing wine markets
in Asia |
| FDI |
RBI
against breach of FDI caps by FIIs |
| |
In a move that has virtually torpedoed the
controversial proposal from the department of industrial policy
& promotion (Dipp) to allow FIIs to invest beyond sectoral
FDI caps, the Reserve Bank has said that Fema (Foreign Exchange
Management Act) does not permit such flexibility. |
| IT |
SAP
looks at possible acquisitions in India |
| |
German software maker SAP AG said it is looking
at possible acquisitions in India — its fastest growing market
— while conceding that the local market had felt some impact
of the global economic slowdown. |
| Policy |
FIPB
bars land resale by realtors with foreign joint ventures |
| |
The Foreign Investment Promotion Board (FIPB)
has clarified that foreign joint ventures in the construction
and development business will not be allowed to sell undeveloped
land they acquire for projects |
| Mining |
Wardrop
eyes Indian clients |
| |
Canada based mining consulting engineering
firm Wardrop aims to get Indian clients keen on acquiring
assets overseas, as the global downturn has eroded value of
deposits in mines across the globe. |
| FDI Policy |
Cabinet
clears way for 49% FDI in insurance |
| |
After many years of debate, the government
has decided to increase the foreign direct investment (FDI)
limit in insurance firms from 26% to 49%. The government will
now introduce a bill in Parliament to effect this change.
The government, however, conceded that the bill may not be
passed by the current Parliament for want of time |
| Telecom |
Norway's
Telenor buys Unitech's telecom firm |
| |
Norway-based Telenor, the world's seventh
largest telecom operator with a subscriber base of about 159
million, has bought new-generation telecom company Unitech
Wireless by paying Rs 6,120 crore for a 60 per cent stake |
| Infrastructure |
UK
firm to invest $5 m in freight station near Ennore port |
| |
Eredene Capital Plc, a UK-based company that
invests in infrastructure projects in India, will invest £5
million in a new Container Freight Station (CFS) close to
the Ennore port. |
| Consumer Products |
Asia
Pacific Breweries to expand in India |
| |
Asia Pacific Breweries Ltd, the Singapore-based
joint venture between Dutch brewer Heineken NV and Singapore’s
Fraser and Neave Ltd, is consolidating its position in India
by setting up two new breweries and appointing a new chief
executive for South Asian operations |
| Policy |
FII
investments may be allowed in more sectors |
| |
With FII funds continuously flowing out of
the country due to the global meltdown and RBI finding it
difficult to defend the rupee, the government may revisit
the proposal to allow FII to invest beyond sectoral limits
on foreign direct investment (FDI). |
| Auto |
Mercedes-Benz
to shift to new plant early 2009 |
| |
Luxury car manufacturer, Mercedes-Benz India,
would shift operations to a new plant at Chakon near Pune
early next year, a company official said on Saturday. |
| FDI Policy |
CCEA
may blow away tobacco FDI |
| |
The issue of foreign direct investment (FDI)
in tobacco sector is likely to be taken up by the Cabinet
Committee on Economic Affairs |
| Aviation |
Foreign
air cargo players upbeat about industry, to add capacity |
| |
Indian cargo industry does not seem to suffer
from the kind of tumultuous upheaval that air passenger industry
is subjected to now-a-days. In fact, air cargo movement in
the country is going to gather further momentum with international
airlines planning to increase their capacities into Indian
market |
| Policy |
Interest
paid to foreign co on convertible debentures taxable |
| |
In a move that could set a precedence for
numerous court cases on tax deduction in interest payments
on foreign currency denominated loans, the Authority for Advance
Rulings (AAR) has ruled that the interest paid to a foreign
company on convertible debentures constitutes the foreign
company’s income and is liable to be taxed in India |
| Retail |
Pavers
England plans $10 million for India foray |
| |
In a bid to expand its presence in India,
footwear retail company Pavers England Footprint, has decided
to invest $10 million in the Indian market. The investment
will be utilized to establish 1,000 stores across the country
by 2013 |
| FDI |
Centre
to streamline FDI policy as foreign investments touch $17.2
billion |
| |
The country has managed to receive foreign
direct investment (FDI) worth $17.2 billion in the first six
months of this financial year, a whopping 137% increase over
the same period last year. But the global financial crisis
prompted the government to announce on Tuesday that it would
further streamline the FDI policy, |
| Policy |
Bar
Council mulls rules for entry of foreign law firms |
| |
The Bar Council of India, or BCI, after initially
opposingthe entry of foreign law firms into the country, and
then debating the idea for a year, is considering a calibrated
approach premised on a “formula of reciprocity”. |
| FDI |
Foreign
investment inflows increase 259 per cent in September |
| |
Foreign direct investment (FDI) in India increased
259 percent in September to $2.56 billion, compared to the
same month last year, with Mauritius being the largest investor.
|
| FDI |
FIPB
nod for 30 FDI-boosting proposals |
| |
As many as 30 proposals involving foreign
investment of over Rs 6,000 crore through holding companies
have been cleared by the Foreign Investment Promotion Board
(FIPB) in the past couple of months. |
| Electronic |
NDS
to invest $150 million in Indian operations |
| |
UK-based global digital pay and interactive
TV technology provider NDS Group will invest $150 mn in the
next four years in India for enhancing its operations |
| FDI |
FDI
rules in for major overhaul |
| |
The government has proposed extensive changes
in the guidelines for foreign direct investment (FDI) that
could impact a range of industries such as telecom, infrastructure,
real estate and broadcasting. |
| FDI |
Govt
may ease rules for more FDI inflow |
| |
Extraordinary situations require extraordinary
actions. This appears to be the latest mantra for policymakers
and government functionaries. Hectic discussions are on in
North Block and Udyog Bhawan to liberalise FDI norms and relax
existing regulations in a bid to infuse more investments into
the Indian economy |
| Aviation |
US
firms eye opportunities in Indian aviation infrastructure |
| |
After selling aircraft and components, the
development of infrastructure in India's aviation sector could
well be the focus of the American aerospace industry. |
| FDI Policy |
Govt
rules out FDI in general retail |
| |
The DIPP has proposed FDI of up to 51 per
cent in multi-brand retail |
| Investment |
Foreign
companies may be allowed to buy stocks from market |
| |
In a move that could step up capital flows,
check the stock market slide and arrest depreciation of the
rupee, the government may allow foreign companies to buy shares
from the stock market. As of now, only FIIs are allowed to
buy shares from the secondary market through stock exchange
deals. |
| Retail |
US'
Tyson eyes bigger play in India; in supply talks with Reliance
Retail |
| |
US meat processor Tyson Foods Inc. plans to
expand its business in India and other emerging markets such
as China and Brazil, betting that economic growth will spur
consumers to eat more chicken and other non-vegetarian foods,
and switch to packaged products. |
| BFSI |
German
bank eyeing core sector lending in India |
| |
German bank Norddeutsche Landesbank, which
inaugurated its representative office in Mumbai recently,
has commitments for €600 million from Indian companies. The
bank is looking at financing companies in core sectors such
as steel, oil and gas, shipping, aircraft and renewable energy,
said Mr Dilip Umralkar, Chief Representative, India, NORD/LB. |
| Policy |
FIIs
can invest in IDRs: RBI |
| |
The Reserve Bank of India (RBI) and finance
ministry have cleared the participation of foreign institutional
investors (FIIs) in Indian depository receipts (IDRs). |
| Services |
Global
majors line up to establish a foothold in India |
| |
Global law biggies Baker & McKenzie and
White & Case are in the process of establishing an India
presence. According to sources, the US based law firms have
initiated talks with a host of Indian counterparts for possible
informal tie-ups in the form of client referral arrangements
to establish a foothold in the country. |
| FDI |
India
sees huge jump in FDI inflows despite global woes |
| |
Amidst global financial crisis India's foreign
direct investment saw an impressive jump of 124 per cent in
the first five months of the current fiscal, while the FDI
flows in August went up huge 180 per cent |
| Aviation |
India
is fastest growing market for Bell Helicopter |
| |
After taking 52 years to sell its first 100
choppers in India
, Bell Helicopter expects to sell its next 100 in less than
five years as the country has emerged as an important market
for the US company, a top official said. |
| Retail |
Reliance
Brands forms JV with Italy's Diesel |
| |
Three months after calling off its tie-up
with Arvind Brands, Italian fashion brand Diesel today announced
a joint venture with Reliance Brands, an arm of Mukesh Ambani’s
Reliance Retail |
| Manufacturing |
Tetra
Pak plans US $ 100 million plant in India |
| |
Swiss processing and packaging major Tetra
Pak International SA will invest Rs 500 crore in its Indian
operations to set up its second plant in the country in Maharashtra.
Tetra Pak India’s biggest clients include Parle, Amul, Dabur,
PepsiCo and Coca-Cola |
| Aviation |
AirAsia
all set to fly to India |
| |
Maverick entrepreneur Tony Fernandes, who
built low-cost carrier AirAsia to be a formidable player in
South-East Asia, is prepared for a price battle in the Indian
skies. The Kuala Lumpur-based airline will launch its first
flight to Trichnapalli in Tamil Nadu from the Malaysian capital
by the end of the year. |
| Destination |
Maharashtra
expected to receive foreign investments worth US$ 427.34 million |
| |
The Indian state of Maharashtra is expected
to receive foreign investment worth US$ 427.34 million chief
minister Mr. Vilasrao Deshmukh told the press on 2nd October
2008. Deshmukh, who has recently returned from an official
visit to Europe, said that eight memorandums of understanding
(MoUs) were signed during the visit |
| FDI Policy |
Govt
mulls 100% FDI in single-brand retail |
| |
The move will come with a series of riders,
including mandatory sourcing from Indian vendors. |
| Policy |
Govt
relaxes ECB norms for infrastructure cos |
| |
Government on Monday relaxed the norms for
overseas borrowing by allowing infrastructure companies to
bring in $500 million raised abroad for rupee expenditure
against the present limit of $100 million |
| Consumer Products |
PepsiCo
commits $500m, aims to triple business |
| |
PepsiCo on Sunday announced a $500-million
investment in India in a clear endorsement of the attraction
of emerging markets like India amidst a global financial meltdown.
The $39-billion food & beverage giant’s plans cover the
next three years. |
| Services |
SocGen
to invest more, double headcount |
| |
French financial services group Societe Generale
said it would more than double the headcount at its Global
Solution Centre in Bangalore and invest about €5 million to
develop a new campus. |
| Auto |
Lamborghini
sees India as big market for future |
| |
Iconic Italian sports car maker Lamborghini
has big expectations from India and has identified it as a
"big market for the future". In India since 2006,
the company is now working on expansion plans and is confident
that the rapid economic growth and new-emerging billionaires
would make India one of its strong markets in the coming years.
|
| Telecom |
Second
Gulf telco to invest in India |
| |
Etisalat picking a 45% stake in Swan Telecom
marks just the second instance of an operator from the Middle
East entering the Indian wireless space |
| Tourism |
Tourism
sector in North-East to attract global investment |
| |
Addressing a press conference at the fourth
North-East Business Summit, Tourism Minister Anil Sarkar said
that Australia and many South-Asian countries such as Cambodia,
Vietnam and Thailand have evinced interest in investing in
the tourism sector in the Indian state of Tripura. The summit
was held in Guwahati on September 15 and 16, 2008. |
| Services |
Vertex
plans to make India its global hub |
| |
BPO firm Vertex plans to make India its global
hub and is looking at acquisitions of domestic BPO companies.
|
| FDI |
Govt
revives plan to take FIIs out of FDI sector limits |
| |
The government is considering a proposal,
first raised in 2004, to liberalise norms governing foreign
institutional investors (FIIs) by removing them from the ambit
of sectoral limits on foreign investment |
| Services |
Booz
& Co enters India again |
| |
Booz & Co, the global consulting firm
that was spun off from Booz Allen Hamilton in July 2008, is
re-entering India. The company is making a comeback eight
years after it shut shop in the country in January 2000 to
focus more on developed markets. |
| Destination |
India
attract more EU investments than China: Mandelson |
| |
European companies are investing more in India
compared to China, EU Trade Commissioner Peter Mandelson has
said. |
| Trade |
India-Korea
economic pact to push trade and investment |
| |
India and South Korea on Thursday announced
that all outstanding issues in the negotiations for forging
the Korea-India Comprehensive Economic Partnership Agreement
(CEPA) have been resolved smoothly, paving the way for it
to be launched from the first half of 2009. |
| Services |
Expedia
launches its booking services in India |
| |
Indian travellers could get access to airfares
of over 70 global airlines now with a leading online travel
firm, Expedia, launching its booking services in the country.
|
| Electronic |
Global
electronics companies planning to set up shop in India |
| |
A rapidly growing consumer electronics market
in India has prompted many leading manufacturers of the world
to seek local partners to set shops in the subcontinent. |
| FDI |
Cabinet
to consider 100% FDI in sports goods & electronics retail |
| |
The government has revived the proposal for
allowing 100% foreign direct investment (FDI) in electronics
and sports goods retail, with the department of industrial
policy & promotion (DIPP) circulating a Cabinet note.
The proposal was first made last February, but was given a
quiet burial due to opposition from the Left parities which
were then supporting the UPA government. |
| BFSI |
J
P Morgan Chase & Co to invest more than US$ 1 billion
in India |
| |
J P Morgan Chase & Co, the third-largest
US bank, is likely to double private equity investments in
India to US$ 1 billion, according to Kalpana Morparia, CEO
of its India operations |
| FDI Policy |
Govt
mulls 26 per cent FDI in multi-brand retail again |
| |
The government is re-considering a proposal
to allow foreign direct investment (FDI) of up to 26 per cent
in multi-brand retail, a move that will allow global giants
like Wal-Mart Stores Inc and Tesco Plc to gain a foothold
in India. |
| Consumer Products |
Nestle
to invest USD 125 million in India in 2009 |
| |
Global FMCG major Nestle is planning to invest
Rs 600 crore in India in 2009 for expansion of its business
in the country. |
| Engineering |
Metso
to invest US$ 34 million to set up industrial park |
| |
Finnish engineering and technology group Metso
has commenced work on establishing a 49-acre multi-functional
industrial facility, named Metso Park, in Alwar, Rajasthan.
The company will be investing close to Rs 165 crore over a
period of two years to establish this industrial park, a Metso
release said. |
| FDI |
Sistema
to invest $1.5 bn in India |
| |
Sistema, one of the largest public diversified
corporation in Russia and the CIS, on Tuesday announced that
it would invest over $1.5 bn in India next year to build a
pan-India telecom network on the CDMA platform. |
| Manufacturing |
Schlumberger
to set up plant near Pune |
| |
During his recently concluded Europe tour,
Maharashtra Chief Minister Vilasrao Deshmukh inked Memorandums
of Understanding (MoUs) with various firms, which will bring
in an investment of Rs 2,100 crore to the state. |
| FDI |
Current
fiscal FDI may miss target by $10-bn: Assocham |
| |
The foreign direct investment to the country
may miss the current fiscal target by as much as $10 billion
in the backdrop of a global economic slowdown and the US financial
crisis, CEOs said in a survey. |
