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IACC Newsletter<br />
Issue 4<br />
April & May, 2012<br />
By IACC Head <strong>Of</strong>fice, Mumbai
Index<br />
Contents<br />
Index<br />
President’s Message ......................................................................................................... 7<br />
From <strong>the</strong> Secretary General’s Desk ................................................................................... 8<br />
Happenings at IACC .......................................................................................................... 9<br />
Special Reports ............................................................................................................... 29<br />
India revenue to touch $1billion in 2 years: GE Healthcare ................................................................. 29<br />
Siraj A. Chaudhry | Cargill India eyes bigger bite of food business ...................................................... 30<br />
Emerson bets big on India, eyes 42% hike in sales ............................................................................... 33<br />
<strong>Indo</strong>-US Corporate News ................................................................................................ 36<br />
R-Power gets $80-mn export financing nod from US Exim Bank ......................................................... 36<br />
L&T delivers $40-mn nuclear equipment to US .................................................................................... 36<br />
GM to utilize Indian diesel facility globally ........................................................................................... 37<br />
India, US joint $125 million fund for research in clean energy ............................................................. 38<br />
CA Technologies scouts for acquisitions in India .................................................................................. 39<br />
USTDA awards grant to Azure Power ................................................................................................... 39<br />
Ford to ‘Focus’ on Indian market .......................................................................................................... 40<br />
An<strong>the</strong>lio, US-based firm, eyes Indian healthcare market ..................................................................... 41<br />
Donald Trump expands footprint of Trump Hotel Collection in India .................................................. 42<br />
News Corp unit sells stake in India's Hathway for $72 million ............................................................. 43<br />
Biocon to tap atorvastatin market in US ............................................................................................... 43<br />
DLF inks pact with US accessories brand Claire .................................................................................... 43<br />
US Based Xilinx Inc. inaugurates it largest R&D Centre in Hyderabad.................................................. 44<br />
Boeing to ship all four 787 Dreamliners built this year to Air India news ............................................ 44<br />
Infosys guns for more biz from US in healthcare, public service .......................................................... 45<br />
GE Foundation grants $1.6 m for education of rural women ............................................................... 46<br />
Agsri inks pact to sell us firm's drip irrigation system........................................................................... 46<br />
Biogen Idec obtains approval for <strong>the</strong> first single-use, intramuscular auto injector ............................. 46<br />
Bharti-Walmart partners Maharahtra State govt. for retail training centre in Jalna ........................... 47<br />
Caterpillar launches new production unit in Chennai .......................................................................... 48<br />
Encyclopedia Britannica bullish on India plans ..................................................................................... 49
Dunkin' Donuts to introduce savory products at outlets in India ......................................................... 49<br />
Lockheed Martin bags deal to supply laser-guided bombs to IAF ........................................................ 50<br />
HDFC Bank partners with San Francisco based Wells Fargo for US-India remittance service .............. 50<br />
IBM, Ingersoll Rand to offer energy efficient solutions in India ........................................................... 50<br />
Microsoft partners Morpheus, Accel to help startups in India ............................................................. 51<br />
Indian drug companies, hit US jackpot in December quarter ............................................................... 51<br />
Walmart to expand its India R&D centre .............................................................................................. 52<br />
Air India board OKs $195 million bridge loan for Dreamliner buy........................................................ 53<br />
GM India to source components worth $1 b from domestic suppliers ................................................ 53<br />
MindTree to Open U.S. Software Center .............................................................................................. 54<br />
Glenmark gets USFDA nod for contraceptive, scalp gel ....................................................................... 54<br />
DuPont sets up ballistics unit in Hyderabad ......................................................................................... 54<br />
Merrill Corporation Adds Legal Process Outsourcing Services in India ................................................ 55<br />
Dell India eyes 16,000 SMEs in state .................................................................................................... 55<br />
Walmart to sell Hero bicycles worldwide ............................................................................................. 56<br />
Sun Pharma gets US nod for schizophrenia drug .................................................................................. 57<br />
Tata Motors ties up with US Company for lithium ion batteries .......................................................... 57<br />
Microsoft to expand presence in smaller cities .................................................................................... 57<br />
Essar Shipping bags $121 million offshore drilling deal from ConocoPhillips ...................................... 58<br />
HDFC, Pramerica lead race for Fidelity India mutual fund.................................................................... 58<br />
M&M wins arbitration award, class action suit in US ........................................................................... 60<br />
Walmart looks to source more farm items from India ......................................................................... 60<br />
Lupin, DRL, Sun get US nod for mental disorder drug .......................................................................... 61<br />
Pfizer terminates $350-mn insulin marketing deal with Biocon........................................................... 61<br />
Tulip Telecom ties up with US' Polycom ............................................................................................... 62<br />
India’s Investments in U.S ............................................................................................... 64<br />
Sahara India bids $600 million for Plaza Hotel in New York ................................................................. 64<br />
eClerx acquires US-based Agilyst .......................................................................................................... 65<br />
Indian companies invest Rs. 820 million in US manufacturing ............................................................. 66<br />
Mahindra Satyam Acquires Kirkland, Washington headquartered vCustomer's Intl. Ops. for $27 Mn 67<br />
EdServ ties up with Amazon.com ......................................................................................................... 67<br />
Caterpillar, Steelcast in tie-up ............................................................................................................... 68<br />
United Spirits debuts in America .......................................................................................................... 68<br />
IL&FS may buy Hershey’s 51% in joint venture .................................................................................... 69
Ybrant Digital close to acquiring US firm for $200 million .................................................................... 69<br />
US investments in India .................................................................................................. 71<br />
P&G to build largest Indian plant in Hyderabad ................................................................................... 71<br />
Honeywell plans to invest Rs. 402 crore on new center ....................................................................... 72<br />
Intel Capital plans to boost auto research in India with $100 million fund .......................................... 72<br />
Monsanto opens Rs. 28 crore seed conditioning facility at Shamirpet ................................................ 73<br />
Enterprise Mobile Apps Provider Andare Acquired by California based UST Global ........................... 73<br />
GE acquires Vadodara-based engineering firm Advanced Systek ........................................................ 74<br />
Chicago based Walton Street returns to Indian real estate, to put Rs. 100 crore in Noida project ..... 75<br />
Boeing's MRO to become operational by Q2 next year ....................................................................... 75<br />
GE to open validation lab in Bangalore ................................................................................................. 76<br />
Ford lays foundation for $1 billion India factory .................................................................................. 76<br />
Warburg Pincus & IFC invest $50 million in AU Financiers ................................................................... 76<br />
Morgan Stanley invests $90 million in Mumbai project ....................................................................... 77<br />
DHL to expand air capacity, invest in warehouses ............................................................................... 78<br />
JP Morgan’s Infra Fund Raises over $95M for India 'Sidecar' Vehicle .................................................. 78<br />
US-based Walton Street Capital Scripting India Specific Realty Fund .................................................. 79<br />
In <strong>the</strong> News: ................................................................................................................... 80<br />
Foreign direct investment norms for Indians relaxed .......................................................................... 80<br />
Indian-<strong>American</strong> journalist wins White House Correspondents journalism award ............................. 80<br />
Intel enters smartphone market in India with Xolo .............................................................................. 81<br />
Ambassador Nirupama Rao meets House Foreign Relations Committee Chair Ileana Ros-Lehtinen .. 82<br />
US corporates preparing 'agenda for progress' for UP ......................................................................... 83<br />
U.S. Schools Want a Part of <strong>the</strong> Huge Indian Education Market .......................................................... 83<br />
US firms finding ways to move ahead on civil nuclear deal with India ................................................. 85<br />
U.S wants India to lift import ban on dairy products ............................................................................ 85<br />
Shinde calls on US corporates to invest in energy sector ..................................................................... 86<br />
US seeks answers on home sourcing of electronic items ..................................................................... 87<br />
Citi India appoints Jane Ong as head of corporate affairs .................................................................... 87<br />
India may become world’s top beef exporter by 2013: USDA.............................................................. 88<br />
California University in talks with Indian nursing colleges to offset shortage of nurses ...................... 88<br />
India-US trade vital for global economy: Godrej .................................................................................. 89<br />
US sees huge business potential in emerging Indian cities .................................................................. 89<br />
US supports India's investment in nuke projects .................................................................................. 90
U.S. tech groups alarmed by India purchasing plan ............................................................................. 90<br />
India sees US as an important partner: Rao ......................................................................................... 91<br />
US, India to sign $8 billion defense deals: Envoy .................................................................................. 92<br />
Relax norms on import of wine, toys, and cosmetics: US to India ....................................................... 92<br />
Indian IT industry a major constituent in <strong>Indo</strong>-US ties: Nirupama Rao ................................................ 93<br />
Refiners see no threat from US exports ............................................................................................... 94<br />
US varsity to establish India Chair in Democracy and Civil Society ...................................................... 94<br />
US willing to consider setting up power JVs in India ............................................................................ 95<br />
U.S. automakers in race for Indian market ........................................................................................... 95<br />
India takes visa fee hike issue to WTO .................................................................................................. 96<br />
Harvard B-school has a new address in Mumbai .................................................................................. 97<br />
US companies keen to invest in Tier II Indian cities .............................................................................. 98<br />
India, US to boost health cooperation .................................................................................................. 98<br />
Military ties with India growing: US ...................................................................................................... 99<br />
Narayana Murthy receives awards from University of South Florida .................................................. 99<br />
India for mobility of skilled workers with US: Nirupama Rao ............................................................. 100<br />
India moves WTO against US steel duties........................................................................................... 100<br />
US praises India's non-proliferation record ........................................................................................ 101<br />
Indian-<strong>American</strong>s emerge as major contributors in <strong>American</strong> media ................................................ 101<br />
US Company says solar mission sourcing 'self-destructive'................................................................ 102<br />
India has vast win-win commercial potential, says US ....................................................................... 102<br />
US plans to grow trade with India in food products ........................................................................... 103<br />
US officials coming to India for talks on investment pact .................................................................. 104<br />
India ready to address concerns of <strong>American</strong> businesses: FM ........................................................... 104<br />
U.S. challenges India poultry ban at WTO .......................................................................................... 106<br />
India has transformed, Govt. tells new US envoy ............................................................................... 106<br />
1,800 students affected by US varsity fraud ....................................................................................... 108<br />
Hollywood studios should join hands with Indian companies to succeed <strong>here</strong>: Experts ................... 108<br />
US visa norms ease for Indian tourists, students ................................................................................ 109<br />
Calendar of IACC Events for 2012 .................................................................................. 110<br />
<strong>Indo</strong>-US Trade Statistics ................................................................................................ 111<br />
International Trade shows ............................................................................................ 114<br />
US Department of Commerce Certified Trade shows in U.S.A ........................................................... 114
Major Trade shows in India .......................................................................................... 116<br />
Major Trade shows in U.S.A .......................................................................................... 128<br />
How to reach us: .......................................................................................................... 135
President’s Message<br />
The increased interaction between India and <strong>the</strong> US, evidenced by <strong>the</strong><br />
visits of US Secretary of Commerce, John Bryson followed by US<br />
Secretary of State Hillary Clinton and Defence Secretary Leon Panetta,<br />
reflect India’s growing importance on <strong>the</strong> world stage.<br />
In order to fur<strong>the</strong>r streng<strong>the</strong>n and expand this cooperation, <strong>the</strong> India-<br />
US Strategic Dialogue initiated in 2009 has identified five principal<br />
areas - Energy & Climate Change; Education & Development; Trade &<br />
Agriculture; Science & Technology; Health & Innovation. India’s<br />
Minister of External Affairs S M Krishna along with delegates<br />
participated in <strong>the</strong> third annual US-India Strategic Dialogue. Details &<br />
factsheets from recent meetings held in Washington DC are available<br />
on our website www.iaccindia.com under factsheets section<br />
One of <strong>the</strong> key areas being Education & Development, <strong>the</strong> first ever India-US Higher Education Summit<br />
which was held in Washington last October, defined a strategic vision for <strong>the</strong> future of <strong>the</strong> US-India Higher<br />
education partnership. U.S is a preferred destination for Indian students to pursue advanced degrees and<br />
nearly 104,000 students from India are benefitting from <strong>the</strong> higher education system in US. With <strong>the</strong><br />
newly launched ‘Passport to India’ initiative by <strong>the</strong> US State Department, we can expect more <strong>American</strong><br />
students coming to India in <strong>the</strong> future for higher education. With <strong>the</strong> enriching economic engagement<br />
between India & US, we will continue to expand in such exchanges between both <strong>the</strong> countries. T<strong>here</strong> are<br />
immense opportunities for developing newer links in <strong>the</strong> areas of education, research & innovation as<br />
also technology & skill development.<br />
In order to facilitate collaborations between educational institutions, exchange programmes involving<br />
students, faculty and researchers from both India and <strong>the</strong> US and also to encourage private participation<br />
in <strong>the</strong> education sector, <strong>the</strong> <strong>Indo</strong> <strong>American</strong> <strong>Chamber</strong> of Commerce initiated <strong>the</strong> <strong>Indo</strong>-US Education<br />
Forum. IACC took its 2 nd Delegation of 14 Indian Higher Education Institutes to Texas, Florida, North<br />
Carolina, Washington D.C. & Virginia from May 28 th to June 8 th , 2012.<br />
During <strong>the</strong> visit of U.S Commerce Secretary - John Bryson IACC organized a roundtable in New Delhi with<br />
focus of <strong>the</strong> discussion on <strong>the</strong> Growth in Emerging Metropolitan Sectors (GEMS) & Infrastructure. The<br />
Delegation of 16 U.S. companies participated in meetings with Indian firms in an effort to promote <strong>the</strong>ir<br />
technologies and services in <strong>the</strong> Indian Market. India is one of <strong>the</strong> world’s fastest –growing economies<br />
and is a priority market under <strong>the</strong> Select USA initiative. In Mumbai, Bryson spoke about investment<br />
opportunities in US and <strong>the</strong> tools offered by SelectUSA to facilitate that investment. Secretary Bryson<br />
appreciated that IACC does critical work in fostering partnerships & success among both U.S. & Indian<br />
businesses.<br />
I would also like to take this opportunity in welcoming US Ambassador to India Ms. Nancy Powell who has<br />
already visited Mumbai, Chennai and some o<strong>the</strong>r cities. IACC had <strong>the</strong> honor of having an excellent<br />
meeting in Chennai and looks forward to her forthcoming visits to Bangalore and Varanasi.<br />
We have a series of high profile events coming up, and I encourage your participation and support.<br />
Anand Desai<br />
National President, IACC
From <strong>the</strong> Secretary General’s Desk<br />
Dear Members,<br />
The high profile visit of US Secretary of Commerce John Bryson, led Infrastructure Business Mission to<br />
India in Delhi & Mumbai was very well received. IACC members interacted with <strong>the</strong> US Companies in <strong>the</strong><br />
infrastructure sector to discuss business opportunities.<br />
IACC secretariat has been busy organizing major events such as SUITE 2012, <strong>Indo</strong>-US Economic<br />
Summit, visits of inbound and outbound Delegations, Awards, <strong>American</strong> Independence Day<br />
Celebration, Golf tournament and Breakfast meetings on various topics of relevance like innovation<br />
etc. besides o<strong>the</strong>r activities. The <strong>Chamber</strong>s statutory audit work is in progress and <strong>the</strong> election<br />
process for <strong>the</strong> forthcoming year has been set in motion.<br />
The IACC Website is updated on regular basis with latest information and reports. Besides upcoming<br />
events you can download 2012 Special 301 Report; Joint Statement on 3 rd <strong>Indo</strong>-US Strategic Dialogue;<br />
Fact sheets on U.S.-India Bilateral Cooperation on Public Health and Research, Energy and Climate<br />
Change, Security and Regional Cooperation and on Science and Technology. You can also find a U.S<br />
Department of Energy: report on Solar Farming Potential in India.<br />
This issue in particular has many more pages as it is combined for <strong>the</strong> months of April and May, you will<br />
find interesting corporate news and relevant information on <strong>Indo</strong>-US Trade and investments. As usual<br />
this issue also covers Happenings at IACC, IACC’s upcoming events, besides o<strong>the</strong>r regular features like<br />
<strong>Indo</strong> US Trade Statistics, Investments in India & USA etc.<br />
With regards,<br />
R.K. Chopra<br />
Secretary General, IACC
Happenings at IACC<br />
West India Council<br />
IACC - WIC organized its 2nd breakfast meeting on April 12, 2012 at Hotel Marine Plaza<br />
Dr. Ajit Ranade, Chief Economist, Aditya Birla Group presenting at <strong>the</strong> IACC Breakfast Meeting<br />
IACC Members interact with Dr. Ranade<br />
IACC - WIC organized its 2nd breakfast meeting. The guest speaker Dr. Ajit Ranade, Chief Economist,<br />
Aditya Birla Group spoke on <strong>the</strong> topic: “India: Navigating through Uncertainty”.<br />
The session began at 9:30 am post breakfast & networking, Dr. L S Kanodia, Regional President; IACC-<br />
WIC welcomed <strong>the</strong> guests and introduced Dr. Ranade. Dr. Ranade started by presenting an overview on<br />
<strong>the</strong> Global economic scenario and <strong>the</strong>n went on to speak about <strong>the</strong> Indian story.
He <strong>the</strong>n drew things into perspective and backed all of it with startling figures and several statistical<br />
data. Guests later engaged in a dialogue with Dr. Ranande which made <strong>the</strong> session even more<br />
interactive and interesting. Guests applauded Dr. Ranade’s fine presentation and his in-depth<br />
knowledge.<br />
Dr. Ranande closed <strong>the</strong> session with <strong>the</strong> following pointers for <strong>the</strong> business group 1. Risk Management<br />
2. Shorter Time Horizons 3. Flexibility. Dr. Kanodia thanked Dr. Ranade and <strong>the</strong> guests.<br />
The breakfast series was attended by CEOs and Directors from over 25 organizations and was well<br />
appreciated. IACC WIC plans to organize similar meetings in future.<br />
A seminar on ‘Important Tax Issues encountered in Doing Business in India’ on April 17, 2012 at<br />
Walchand Hirachand Conference Hall, Indian Merchants <strong>Chamber</strong>s, Churchgate.<br />
Mr. Hitesh Gajaria, Chartered Accountant & Partner, KPMG in discussion with IACC Committee Member, Mr.<br />
Naushad Panjwani at <strong>the</strong> seminar on ‘Important Tax Issues encountered in Doing Business in India’
IACC - WIC organized its first breakfast meeting on March 01, 2012 at Hotel Marine Plaza<br />
IACC Power Breakfast Series – Powered by Citi<br />
IACC - WIC organized its first breakfast meeting. Guest speaker Mr. Gautam Das, Senior Vice President,<br />
Citibank spoke on <strong>the</strong> topic: Macro Economic Overview and Foreign Exchange Risk Management. The<br />
session began at 9 am, Dr. L. S. Kanodia, Regional President; IACC-WIC welcomed <strong>the</strong> guests and<br />
introduced Mr. Das. Mr. Das put forth his ideas and presented concepts on hedging in <strong>the</strong> foreign<br />
exchange among o<strong>the</strong>r areas of Risk Management. Guests later discussed challenges faced by <strong>the</strong><br />
industry making <strong>the</strong> session highly interactive.<br />
The breakfast series was attended by CEOs and Directors from over 25 organizations and was well<br />
appreciated. IACC WIC plans to organize similar meetings in future.<br />
IACC members engrossed in <strong>the</strong> talk by Mr. Gautam Das, Senior Vice President, Citibank<br />
Mr. Gautam Das presenting at <strong>the</strong> Breakfast Meeting
IACC-WIC supported <strong>the</strong> “Golden Maharashtra: Manufacturing Magnet” Summit 2012 held on March<br />
02, 2012 at <strong>the</strong> Taj Mahal Palace Hotel.<br />
Dr. L. S. Kanodia, Regional President, IACC-WIC shaking hands with Mr. Prithviraj Chavan, Chief Minister of<br />
Maharashtra, at <strong>the</strong> Summit<br />
Luncheon meeting with US Commerce Secretary John Bryson and <strong>the</strong> Infrastructure Business<br />
Development Mission to India on March 30, 2012 at The Grand Ballroom, Taj Mahal Palace, Mumbai<br />
Commerce Secretary John Bryson, who was on a five-day official India visit, leading a 16-member business<br />
delegation was engaged in meetings in Mumbai with <strong>the</strong> senior industry leaders at <strong>the</strong> luncheon meeting<br />
hosted by <strong>the</strong> <strong>Indo</strong>-<strong>American</strong> <strong>Chamber</strong> of Commerce.<br />
Secretary Bryson is <strong>here</strong> to advocate for U.S. export opportunities in India’s rapidly expanding infrastructure<br />
sector and promote investment opportunities in America–both key priorities of <strong>the</strong> Obama administration.<br />
“This mission builds on President Obama’s historic visit to India two years ago, when he said before <strong>the</strong><br />
Indian Parliament that <strong>the</strong> U.S.-India relationship will be one of <strong>the</strong> defining partnerships of <strong>the</strong> 21st<br />
century. I couldn’t agree more,” said Bryson. He added “The U.S. Trade and Development Agency is also<br />
active in India. I witnessed <strong>the</strong> signing of two of <strong>the</strong>ir projects. One will help implement smart-grids and <strong>the</strong><br />
o<strong>the</strong>r will bring solar energy and a better quality of life to remote parts of India”. He also announced that<br />
Financial Support was being provided by OPIC and ExIm Bank.<br />
Mr. Anand Desai, said, “Development of infrastructure is critical for India and India’s committed budget of<br />
US$ 1 trillion during <strong>the</strong> 12 th Five year plan, presents a huge opportunity for business and development. Our<br />
chamber will continue to support trade and commerce in this sector and o<strong>the</strong>r business opportunities”. He<br />
added “The total FDI in <strong>the</strong> infrastructure sector as on March 2010 is US $ 32.6 billion”. Dr. L. S. Kanodia<br />
said, “This year <strong>the</strong> bilateral trade between India and US is expected to exceed US$ 100 Billion, despite this<br />
we rank 13th among <strong>the</strong> top 15 US trading partners. We are certain that <strong>the</strong> visit of Commerce Secretary<br />
John Bryson will accelerate this fur<strong>the</strong>r. India will also surpass <strong>the</strong> landmark GDP of US $ 2 Trillion in CY<br />
2012.”He added, “It is appropriate that Commerce Secretary Bryson is leading this delegation on<br />
Infrastructure, since this is <strong>the</strong> greatest need of our country. About a year ago <strong>the</strong> <strong>the</strong>n Commerce Secretary<br />
Gary Locke had visited India, which reflects <strong>the</strong> deepening relations between <strong>the</strong> two countries.” "It is<br />
exciting to see India's trillion dollar commitment to infrastructure over <strong>the</strong> next five years. This plan is both<br />
ambitious and admirable. It includes as many as 600 major projects, including a strong emphasis on publicprivate<br />
partnerships," said Bryson.<br />
Secretary Bryson fur<strong>the</strong>r added, “Here in India, it is wonderful to hear that public-private partnerships are<br />
also being leveraged. The new Infrastructure Debt Fund is a good example of this. The Fund will allow
financing companies to play a more active role in India’s trillion-dollar infrastructure plan. That’s an<br />
important way to help India move forward quickly – as it intends to do over <strong>the</strong> next 5 years. Overall, it’s<br />
clear that U.S. and Indian businesses and financing companies must continue to work closely toge<strong>the</strong>r. All of<br />
you are a critical part of what President Barack Obama calls “one of <strong>the</strong> defining partnerships of <strong>the</strong> 21st<br />
century.” Industry leaders from <strong>the</strong> infrastructure sector were present at this luncheon organized by <strong>Indo</strong>-<br />
<strong>American</strong> <strong>Chamber</strong> of Commerce, guests interacted with <strong>the</strong> delegates from <strong>the</strong> Business Development<br />
Mission. Bryson added “We are strongly encouraging businesses across <strong>the</strong> US to consider <strong>the</strong> full spectrum<br />
of opportunities and partnerships throughout India - not just in India's four metros".<br />
Dr. L.S. Kanodia, welcoming US Commerce Secretary John Bryson and <strong>the</strong> Infrastructure Business Development<br />
Mission to India in Mumbai. Seated (from left to right) Mr. R. K. Chopra, Secretary General, IACC, Mr. Ram Walase,<br />
CEO, IL &FS, US Commerce Secretary John Bryson and Mr. Anand Desai, National President, IACC.<br />
Mr. Anand Desai, National President, IACC introducing <strong>the</strong> US Commerce Secretary John Bryson to <strong>the</strong><br />
guests.
US Commerce Secretary, Bryson highlighting India’s Infrastructural Growth at <strong>the</strong> IACC Luncheon Meeting.<br />
Guests engrossed in <strong>the</strong> talk given by Mr. John Bryson, US Commerce Secretary<br />
Anand Desai honoring Commerce Secretary John Bryson with a traditional Indian Shawl
Dr. L. S. Kanodia shaking hands with & presenting a memento to <strong>the</strong> US Commerce Secretary<br />
Mr. John Bryson sharing a light moment with Mr. Anand Desai<br />
Commerce Secretary Bryson with IACC Dignitaries and VIP Guests at <strong>the</strong> Luncheon Meeting
Gujarat Branch<br />
Networking Dinner Meeting- Columbus, Ohio <strong>Of</strong>ficials at Ellisbridge gymkhana, Ahmedabad on March<br />
17, 2012<br />
The <strong>Indo</strong>-<strong>American</strong> <strong>Chamber</strong> of Commerce (IACC), Gujarat Branch, organized a Networking Dinner<br />
Meeting to Welcome Columbus, Ohio, USA, <strong>Of</strong>ficials, Ms. Vinita Bahri-Mehra, Kegler Brown Hill & Ritter<br />
and Ms. Deb Sc<strong>here</strong>r, Director of Global Markets- Columbus 2020, at Ellisbridge Gymkhana,<br />
Ahmedabad.<br />
Columbus2020 is a bold, new, regional public-private partnership that will leverage Central Ohio´s<br />
research and academic institutions, diverse industries to position <strong>the</strong> State Capital to become <strong>the</strong> fastest<br />
growing economy in <strong>the</strong> country and one of <strong>the</strong> nation´s leaders in economic development. “Kegler<br />
Brown is one of <strong>the</strong> most consistently recognized law firms in Ohio due to its high-quality legal work,<br />
uniquely responsive client service and value among clients.<br />
As briefed by Columbus officials, <strong>the</strong>y were on India tour with a purpose to encourage potential Indian<br />
companies to invest in Columbus, Ohio, and vise-a-versa. As Gujarat is <strong>the</strong> most vibrant state in India,<br />
<strong>the</strong>y were really hopeful about <strong>the</strong> business opportunities between India and USA. They extended <strong>the</strong>ir<br />
full supported to establish a business at USA for our members. All IACC members interacted with <strong>the</strong>m<br />
one-to-one and expressed <strong>the</strong>ir desire ei<strong>the</strong>r to invest, joint venture or technology transfer with<br />
Columbus, Ohio. Ms. Vinita and Ms. Deb promised to get back to <strong>the</strong>m in a very short time.<br />
The members present were: Mr. Sunil Kakkad (Chairman, IACC), Mr. Himanshu Vyas ( Ayurnet<br />
Healthcare Pvt. Ltd.), Mr. Narendra Patel (Nirman Corporation), Mr. Jaimin Shah ( Dev Information<br />
Technology Pvt. Ltd.), Mr. Snehal Patel (Karan and Company), Mr. Chetan Parikh (Easy Transcription Pvt.<br />
Ltd.), Mr. Kirtan Jani (Maximum International), Mr. Naresh Prajapati (Azilen Technologies Pvt. Ltd.), Mr.<br />
Nandu Patel (Finance), Mr. Anand Kothawala (Online graphic Pvt. Ltd.), Mr. Darshan Gharekhan<br />
(Cagsons Corporation).<br />
The meeting was very informative and followed by dinner at Ellisbridge Gymkhana.<br />
IACC members with Columbus, Ohio, USA, <strong>Of</strong>ficials
North India Council<br />
Networking luncheon for US Medical Trade Mission to India on March 05, 2012<br />
(L-R) Mr. Atul Kumar Nasa, President, Indian Pharmacy Graduates’ Association & Vice President of All India Drugs<br />
Control <strong>Of</strong>ficers Confederation (AIDCOC); Mr. S. K. Sarkar, Regional President, IACC-NIC; Mr. Greg O’ Connor,<br />
Commercial <strong>Of</strong>ficer, US Embassy<br />
Interactive workshop on Global Mobility of Employees: Issues & Challenges, March 06, 2012<br />
(L-R) Mr. Ashish Gupta, Director, KPMG; Mr. S. K. Sarkar, Regional President, IACC-WIC; Mr. Sanjiv K Chaudhary,<br />
Partner, KPMG; Mr. Subhash Sharma, Regional PF Commissioner (International Workers Unit)
On <strong>the</strong> podium Mr. Vineet Agarwal, Director, KPMG; On <strong>the</strong> Dias: Mr. S. K. Sarkar; Mr. Sanjiv K Chaudhary and Ms<br />
Shilpa Patankar, Senior Manager, KPMG<br />
Mr. Avneesh Sarin, Global Mobility Leader, Genpact; Mr S K Sarkar; Mr. Sanjiv K Chaudhary; Mr. K C Pandey,<br />
Additional CPFC and Mr. Navin Jain, General Manager, Cairn India<br />
Participants during <strong>the</strong> Interactive Workshop
Luncheon meeting with <strong>the</strong> US Commerce Secretary, Mr. John Bryson on March 27, 2012<br />
Mr. S K Sarkar, Regional President welcoming during <strong>the</strong> luncheon meeting<br />
Mr. Anand Desai, National President, IACC addressing <strong>the</strong> participants
Mr. Donald Lu, Deputy Chief of Mission, US Embassy giving <strong>the</strong> brief introduction of <strong>the</strong> US Commerce Secretary<br />
Mr. John Bryson, US Commerce Secretary delivering <strong>the</strong> address during <strong>the</strong> luncheon meeting
Mr. Randeep Singh Surjewala, Hon’ble Minister for Industries & Commerce, Govt. of Haryana addressing during<br />
<strong>the</strong> luncheon meeting<br />
Mr. Amitabh Kant, CEO, Delhi Mumbai Industrial Corridor Development Corporation Limited making <strong>the</strong><br />
presentation
Participants during <strong>the</strong> luncheon meeting
Andhra Pradesh Branch<br />
IACC-AP Branch celebrated Telugu New Year UGADI on March 22, 2012 at Rock Heights, Shilparamam,<br />
Madhapur, Hyderabad<br />
IACC Andhra Pradesh Branch celebrated Telugu New Year UGADI. The event was well attended by many<br />
guests; including Shri V. Dinesh Reddy was invited as Chief Guest. Padma Shri Dr. K. Brahmanandam,<br />
Movie Star and Guinness record holder for acting in maximum number of films in a single language was<br />
felicitated. Ka<strong>the</strong>rine S. Dhanani, Consul General, Consulate General of <strong>the</strong> United States, Hyderabad<br />
was Guest of Honor on <strong>the</strong> occasion.<br />
Event was inaugurated by lighting <strong>the</strong> ceremonial lamp. Shiva Reddy, movie star and mimicry artiste had<br />
<strong>the</strong> audience in splits with his witty imitation and jokes. Popular Andhra cuisine was served in an<br />
elaborate spread of different recipes. The event was successfully covered by print and electronic media.<br />
Chief Guest Shri. V. Dinesh Reddy, Director General of Police, I.P.S <strong>Of</strong>ficer, Andhra Pradesh lighting <strong>the</strong> inaugural<br />
lamp<br />
Padma Shri Dr. K. Brahmanandam being felicitated by Shri. Madan Mohan Reddy, Branch Chairman, IACC-AP<br />
branch
Shri V. Dinesh Reddy addressing <strong>the</strong> ga<strong>the</strong>ring
Tamil Nadu Branch<br />
Seminar on “<strong>Indo</strong>-U.S. Partnership in Water Sector – The Road Ahead” on April 28, 2012 at Hotel Taj<br />
Club House, Chennai<br />
<strong>Indo</strong> <strong>American</strong> <strong>Chamber</strong> of Commerce (IACC) in association with U.S. Commercial Service, <strong>American</strong><br />
Consulate General, Chennai as an initiative to promote investments in water sector, which is very critical<br />
to circumvent <strong>the</strong> burning challenges in Indian water sector, has conducted a Seminar on “<strong>Indo</strong>-U.S.<br />
Partnership in Water Sector – The Road Ahead” on April 28, 2012 (Saturday) at Hotel Taj Club House,<br />
Chennai. The seminar opened an opportunity for technology suppliers to share across <strong>the</strong>ir experience<br />
and technical know-how which could be leveraged upon to address <strong>the</strong> core issues.<br />
Mr. Raman Govindarajan, Chairman, of IACC (TN) welcomed <strong>the</strong> audience and spoke about <strong>the</strong><br />
importance of water as a premier resource for domestic, agricultural, and industrial consumption, <strong>the</strong><br />
evolution of consumption and availability patterns in <strong>the</strong> past decades. Raman also outlined <strong>the</strong> IACC’s<br />
activities in promoting <strong>Indo</strong>-US businesses, in <strong>the</strong> past and planned events in <strong>the</strong> future, especially in<br />
Education, Infrastructure, Post and Logistics etc., and <strong>the</strong> potentials for collaboration between US and<br />
Indian Organizations in Water Sector.<br />
Mr. Jim Golsen, Principal Commercial <strong>Of</strong>ficer of U.S. Consulate General, Chennai, laid a specific emphasis<br />
on collaboration opportunities to promote finance and technology transfer between US and India. He<br />
also spoke about increasing presence of US Businesses in India, with a lot of support provided by US<br />
Govt. by way of EXIM bank support etc.<br />
While delivering <strong>the</strong> keynote address, Mr. B. Ramaswamy, Lead – South Region, Feedback Infrastructure<br />
provided <strong>the</strong> water scenario in India. His note ended with <strong>the</strong> key summary of all potential areas w<strong>here</strong><br />
US-India collaboration could help in taking <strong>the</strong> water sector to <strong>the</strong> next level.<br />
Mr. Joseph Ravikumar, Sr. Institutional Devp. Specialist, The World Bank has shared his real time<br />
experience by quoting one of classical case study on wastewater recycling from a petrochemical industry<br />
in Chennai.<br />
Dr. K. Rajivan, IAS (Retd.), Consultant, The World Bank & Former CEO, TN Urban Development Fund<br />
brought in dimension related to equity and debt financing through PPP model is water sector by sharing<br />
a successful case study on pooling finance model in Chennai.<br />
The challenges & opportunities in Indian Water market for <strong>the</strong> private sector was presented by Mr.<br />
Sanjib Saha, Chief Corporate Assurance <strong>Of</strong>ficer, VA Tech Wabag Ltd.<br />
Finally <strong>the</strong> seminar ended with <strong>the</strong> briefing from Mr.K.Venkatesaperumal, Manager, Climate Change &<br />
Sustainability Services (CCaSS), Ernst & Young Private Limited, which covered <strong>the</strong> recent regulations and<br />
policies in India Water Sector. The principles of water management and <strong>the</strong> key measures that could be<br />
adopted by industries to reduce <strong>the</strong>ir specific water consumption through case studies were also<br />
presented.<br />
The delegates from Wisconsin Economic Development Corporation (WEDC), as a team had brought in<br />
<strong>the</strong>ir international experience in varied areas right from water sampling, measurement and monitoring<br />
techniques. A specific emphasis was made on <strong>the</strong> need for <strong>the</strong> water sector to have technology<br />
intervention to have water conservation through adoption of 3R (Reduce, Recycle & Reuse) concept.
During Question and Answer session real time experiences and challenges were shared from <strong>the</strong><br />
participants representing from different industrial sectors. The representatives from World Trade<br />
Centers of San Diego/Wisconsin and U.S. Water Trade Mission also shared <strong>the</strong>ir experiences and look<br />
forward to have stronger collaboration to make <strong>the</strong> difference in Indian water market.<br />
The keynote address delivered by B. Ramaswamy, Lead – South Region, Feedback Infrastructure Services Private<br />
Limited at <strong>the</strong> Seminar.<br />
The representatives of <strong>Indo</strong>-<strong>American</strong> <strong>Chamber</strong> of Commerce & <strong>the</strong> speakers at <strong>the</strong> Seminar along with visiting<br />
U.S. Water Trade mission members from Wisconsin and San Diego, USA.
IACC WBC Panel Discussion on “Re-Thinking Women in Leadership: An <strong>Indo</strong> US Perspective” March 9,<br />
2012 in Chennai<br />
L - R : Ms.Priya Chetty Rajagopal, Chairperson, IACC Womens Business Council; Mr.Raman Govindarajan, Chairman<br />
IACC-TN Branch;Consul General, Ms. Jennifer McIntyre; Ms.Ranjini Manian, CEO, Global Adjustments Pvt. Ltd.;<br />
Ms.Jaya Vaidhyanathan, Executive Vice President & Head, Scope International; Mr.Ravi Shankar, Senior Vice<br />
President, HCL Technologies; Ms.Srimathi Shivashankar, Associate Vice President, Diversity & Sustainability, HCL<br />
Technologies.<br />
IACC WBC Panel Discussion on “Re-Thinking Women in Leadership: An <strong>Indo</strong> US Perspective” March 15,<br />
2012 in Bangalore<br />
L-R : Ms.Priya Chetty Rajagopal; Dr.Shalini Rajneesh, Secretary RDPR & Principal Secretary DPAR (AR); Mr.Abhijit<br />
Bhaduri, Chief Learning <strong>Of</strong>ficer, Wipro; Ms. Akila Krishnakumar, President, Global Technology & Country Head (<br />
India), SunGard; Mr.Gopichand Katragadda, Managing Director, GE India Technology Centre; Consul General,<br />
Ms.Jennifer McIntyre
East India Council<br />
Presentation and Interaction on ‘Environment Clearance- Procedure & System’ on April 16, 2012 at<br />
<strong>the</strong> <strong>American</strong> Center (Lincoln room), Kolkata<br />
(R-L): Mr. Surojit Bose, Associate Director, PwC Sustainability and Climate Change; Mr. Sunil Kumar, Senior<br />
Specialist Corp, EHS, ITC Ltd; Mr. Jeffrey K Reneau, Director, <strong>American</strong> Center; Mr. Sutanu Ghosh, Past National<br />
President, IACC; Ms. Madhusree Daityari, Regional Director, EIC.<br />
(R-L): Mr. Surojit Bose; Mr. Sunil Kumar; Ms. Heena Gorsia, Regional President, EIC; Mr. Sutanu Ghosh; Ms.<br />
Madhusree Daityari
Special Reports<br />
Special Reports<br />
India revenue to touch $1billion in 2 years: GE Healthcare<br />
Indian Market a Lab to Understand Customer's Needs, Says GE Healthcare Systems Chief Thomas<br />
Gentile, president and CEO of GE Healthcare Systems, flagship business of GE Healthcare, was in India<br />
recently to review operations, "super-charge" <strong>the</strong> product development programmes and meet<br />
customers.<br />
The head of $13-billion unit of GE Healthcare, which manufactures diagnostic imaging devices (X-rays,<br />
ultrasound machines, CT scanners) and life care systems (ECG machines and ventilators<br />
What's <strong>the</strong> purpose of your visit?<br />
The focus of this trip is really India though I was in Bangladesh a day before. India for us is a very big<br />
market with huge growth potential. It's already a big market - we do close to $500 million in sales today,<br />
and in a couple of years will soon be billion-dollar market. And with 1.2 billion people, <strong>the</strong> potential is<br />
even bigger than that. So <strong>the</strong>re's no doubt that India is on our global radar scene.<br />
What are <strong>the</strong> products developed in India, and for <strong>the</strong> domestic market?<br />
We have already developed 14 products in India, for India. Some of <strong>the</strong>se are also being exported to<br />
global markets. Products like MAC 400 - a portable ECG device, is being exported to nearly 100<br />
countries; lullaby baby warmers and photo<strong>the</strong>rapy solutions go to about 70 countries; Vivid P3 (cardiac<br />
imaging ultrasound system) and a number of ultrasound systems goes all around <strong>the</strong> world. We have<br />
three new solutions ready to roll out in <strong>the</strong> next few weeks addressing maternal/infant health.<br />
We have nearly 40 solutions in <strong>the</strong> pipeline targeted to release over <strong>the</strong> next two-three years addressing<br />
ventilation, radiology, cancer, life sciences, and <strong>the</strong> most prominent is a series of PET/CT molecular<br />
imaging system targeted to release by first half of 2013. These CT (computed tomography) devices are<br />
expected to reduce costs by 40%, and enhance <strong>the</strong> access to early detection facility of cancer.<br />
What are <strong>the</strong> specific needs of <strong>the</strong> Indian market, and GE's strategy <strong>here</strong>?<br />
The idea is to use <strong>the</strong> engineers <strong>here</strong> to see what are <strong>the</strong> specific needs of <strong>the</strong> Indian market and how do<br />
we meet <strong>the</strong>m. The devices have to meet <strong>the</strong> price point, include all <strong>the</strong> features, have a small footprint<br />
and in certain cases, be suitable for rugged conditions. India is an interesting market for us globally, as<br />
its all private pay - customers pay <strong>the</strong>mselves. Prices, <strong>the</strong>refore, have to be extremely competitive - it's<br />
one of <strong>the</strong> most extremely competitive markets in <strong>the</strong> world. Indian market is actually a laboratory to<br />
see what consumers want, and what <strong>the</strong>y are willing to pay for. People <strong>here</strong> demand quality healthcare<br />
at lowest possible costs and it helps bring <strong>the</strong> right behavior and a healthcare model. And it also calls for<br />
specific innovations in terms of technologies and business models. Also, it's just not cost which is a<br />
criteria, but space too, because space is at a premium <strong>here</strong>.
How does India fare in <strong>the</strong> Asian region?<br />
GE Healthcare operates in seven regions - US, Europe, Latin America, India, China, Asia-Pacific, and<br />
Middle-east and Africa. India is identified as a key region for growth. India contributes 20% of overall<br />
Asia revenues. Though India's revenue contribution to overall GE Healthcare is small, it is improving and<br />
we are targeting to reach $1 billion over <strong>the</strong> next couple of years. In addition to that, <strong>the</strong> capability that<br />
we have <strong>here</strong> is extremely important. We have 4,000 engineers in Bangalore working on product<br />
development - <strong>the</strong>ir product development is not just for <strong>the</strong> Indian market, but important for our global<br />
supply chain. We also do quite a bit of manufacturing in India for several of our product lines.<br />
GE recently moved its X-ray business to China. How does <strong>the</strong> company view India and its capabilities?<br />
Both China and India have tremendous engineering capabilities, and are growing at high rates. The<br />
comparison ends <strong>the</strong>re. China is a bit more mature in <strong>the</strong> sense of as it is a bigger market than India.<br />
Healthcare purchases are done heavily by <strong>the</strong> government. Like western countries, <strong>the</strong>re is<br />
reimbursement and insurance penetration is better. However, India is very different. Insurance<br />
penetration is very low and <strong>the</strong>re is no government reimbursement. Healthcare is driven largely out of<br />
pocket and offers a very interesting dynamic - consumerism.<br />
We have plenty of investments in both <strong>the</strong> countries. GE Healthcare spends an average of $50 million<br />
every year on R&D for healthcare solutions in India. We have large R&D centres in both countries, <strong>the</strong><br />
one in India being <strong>the</strong> largest in <strong>the</strong> world with about 4,000 people and 1,200 people focusing only on<br />
healthcare solutions. China, India and Europe are now handling roughly one-third of all development<br />
work outside <strong>the</strong> US now.<br />
Click <strong>here</strong> for index<br />
Siraj A. Chaudhry | Cargill India eyes bigger bite of food business<br />
“We do have <strong>the</strong> potential to bring in a lot of products, to create products, to help our customers create<br />
products which are going to be <strong>the</strong> need of <strong>the</strong> consumer”<br />
Food for thought: Chaudhry says building food brands in India is not easy as tastes and preferences vary across<br />
geographies<br />
A supplier to top biscuit and instant noodles makers and fast food chains, <strong>the</strong> company is eyeing an even<br />
bigger growth with a combination of organic and inorganic means, sighting ample opportunity in India’s<br />
$330 billion food market, which is expected to more than triple by 2020.<br />
Siraj A. Chaudhry, chairman of Cargill India, said in an interview that <strong>the</strong> company has identified food<br />
ingredients and staples as its focus, and that it may launch more products in <strong>the</strong> years ahead armed with<br />
its learning on <strong>the</strong> complex and fragmented Indian markets.
Chaudhry, who started his career with <strong>the</strong> state-run trading firm State Trading Corp., joined Cargill in<br />
1995 and held several leadership positions in India after serving five years at Cargill in Geneva in <strong>the</strong><br />
company founded in 1865. Edited excerpts:<br />
Internationally Cargill is known as a food company, but in India you are primarily known as a trading<br />
outfit. Why is it so? And is this likely to change in <strong>the</strong> future?<br />
In India, we are actually a food company. We originally have been supplying or buying commodities from<br />
India or into India. This was in <strong>the</strong> 1970s when India had a deficit in sugar and o<strong>the</strong>r commodities. Over<br />
<strong>the</strong> years, we have evolved. We have gone into manufacturing and we have a reasonably sized asset<br />
based <strong>here</strong>. Today we have three world-class edible oil refineries. We have plants for manufacturing<br />
animal feeds, animal pre-mixes and we have a sugar refinery in a joint venture. We have some of <strong>the</strong><br />
leading edible oil brands. We have distribution and marketing for animal feeds and pre-mixes. And we<br />
are into trading, of course, in commodities such as sugar, cotton and some o<strong>the</strong>r grains.<br />
We manage supply chains. We manage <strong>the</strong> twice-a-year harvest but (also) a round-<strong>the</strong>-year need from<br />
consumers by coming in <strong>the</strong> middle between <strong>the</strong> farmer and <strong>the</strong> producer of food to link commodities<br />
to <strong>the</strong> end users.<br />
Give us a sense of your size. How much of revenue do<br />
you get in a year and if you could compare with 25 years<br />
ago, how much have you grown by?<br />
Revenue is important; but in a commodity organization,<br />
w<strong>here</strong> <strong>the</strong> price of <strong>the</strong> commodity has a big role in<br />
defining <strong>the</strong> size of <strong>the</strong> revenue, it is not <strong>the</strong> sole indicator<br />
of growth. Out of <strong>the</strong> $119 billion of <strong>the</strong> Cargill global<br />
turnover in 2010-11 (ended in May 2011), $3.5 billion was<br />
linked to business (in) India.<br />
In edible oils, we have 15% of <strong>the</strong> branded retail market in<br />
a business w<strong>here</strong> <strong>the</strong> organized brands form 25% of all of<br />
<strong>the</strong> oils consumed. This means we sell about 600,000 tons<br />
of edible oils, most of which is imported.<br />
What is on your agenda for <strong>the</strong> next few years?<br />
We are in <strong>the</strong> food and agriculture space, which is relevant<br />
today and is expected to stay so. We have <strong>the</strong> global<br />
w<strong>here</strong>withal, access to best practices and experiences,<br />
technology and we have, over <strong>the</strong> years, built <strong>the</strong>se<br />
linkages in <strong>the</strong> Indian market. We do have <strong>the</strong> potential to<br />
bring in a lot of products, to create products, to help our<br />
customers create products which are going to be <strong>the</strong> need<br />
of <strong>the</strong> consumer. And this could be across <strong>the</strong> food basket.<br />
What kind of business expansion are you looking at?<br />
For example, we buy corn from farmers and export it. Going forward, we could get into wet milling,<br />
w<strong>here</strong> we could be producing starch and glucose from corn. That evolution we’ve seen and experienced
in o<strong>the</strong>r parts of <strong>the</strong> world, and it will happen in India over <strong>the</strong> next few years. I have <strong>the</strong> broader plan in<br />
place.<br />
What are <strong>the</strong> challenges you might face?<br />
The challenge in India is not that we will not have demand for <strong>the</strong>se products. It is just that <strong>the</strong> timing<br />
and <strong>the</strong> pace of change needs to be understood and business evolution needs to be brought in sync with<br />
it. Because it can be painful if you invest ahead of <strong>the</strong> curve, just as it can be if you are left behind of <strong>the</strong><br />
curve.<br />
It is not easy building food brands in India for <strong>the</strong> simple reason that we are a very fragmented market.<br />
T<strong>here</strong> are tastes and preferences which vary across geographies. The retail networks are so fragmented<br />
that accessing it and creating <strong>the</strong> supply chain for it is extremely expensive and complex. And, obviously,<br />
<strong>the</strong>se are businesses that have a very low margin; so <strong>the</strong> cost of building a brand can be phenomenal for<br />
a category like flour. The food sector typically takes about 8-10 years of work in <strong>the</strong> market to get<br />
established. We have already gone through that phase. Going forward, a lot of it would be leveraging on<br />
what we have already created.<br />
What will be <strong>the</strong> mode of your expansion?<br />
It will be a combination of various strategies. Looking at <strong>the</strong> past, it has been a combination of investing<br />
in assets; it’s been about acquisitions and also acquiring brands. Our experience so far tells us that it has<br />
to be a mix of <strong>the</strong>se various things.<br />
What kind of reforms would you like to see in <strong>the</strong> commodities markets?<br />
Regulation is linked to maturity of <strong>the</strong> markets. These regulations are about protecting <strong>the</strong> farmer or<br />
consumer. To unshackle this, <strong>the</strong>re has to be a lot of trust-building. This is something that needs to<br />
come into <strong>the</strong> regulatory system but I think <strong>the</strong> trade also has responsibilities that of building trust with<br />
<strong>the</strong> government and with <strong>the</strong> consumer.<br />
We have APMC Act (Agricultural Produce Marketing (Regulation) Act), which restricts access to farmers.<br />
We have stock limits which restrict movement of goods. GST (goods and services tax) is something very<br />
important to reduce <strong>the</strong> cost of doing business. The correct implementation of <strong>the</strong> new national food<br />
safety Bill is also very important. We have less disagreement with what <strong>the</strong> government wants to do. I<br />
think w<strong>here</strong> we struggle is how <strong>the</strong> government is doing it. The concern I have for <strong>the</strong> food Bill is it could<br />
fail for poor execution.<br />
Agencies have forecast a poor outlook for food in terms of supply and prices in <strong>the</strong> world. Fears are<br />
that <strong>the</strong>re might not be enough food for everyone.<br />
As a company, we don’t subscribe to that view. The world has enough food and enough calories to feed<br />
itself today and in <strong>the</strong> future. It is <strong>the</strong> distribution of those calories that is important and that’s w<strong>here</strong><br />
<strong>the</strong> government and society has a huge role to play.<br />
It’s <strong>the</strong> supply, distribution, free trade, trust between countries and organizations that is important. The<br />
reality is only 15% of <strong>the</strong> world’s calories cross borders. So 85% of <strong>the</strong> food gets consumed w<strong>here</strong> it gets<br />
produced. So it is about managing our resources better.
Do you think private firms could play a role in helping <strong>the</strong> food security Bill?<br />
The first thing is that <strong>the</strong> Bill is a good thought. It is a need that has been expressed in a broad manner.<br />
The challenge is not with what is in it, but how it will get executed. So, I think, <strong>the</strong>re should be a role for<br />
<strong>the</strong> private sector in <strong>the</strong> space of distribution, processing, managing supply chain and that’s w<strong>here</strong> <strong>the</strong><br />
government and <strong>the</strong> private sector need to come toge<strong>the</strong>r.<br />
Cargill India Pvt. Ltd, a unit of multinational food producer and marketer Cargill Inc. that started in India<br />
with seven people 25 years ago now boasts of a workforce of nearly 2,000 with manufacturing, trading<br />
and retailing operations spanning major agricultural commodities such as cereals, edible oils, cotton and<br />
sugar.<br />
Click <strong>here</strong> for index<br />
Emerson bets big on India, eyes 42% hike in sales<br />
“US-based multinational to invest Rs. 1,000 crore over five years “<br />
At a time when investments are slowing down and large Indian corporates are deferring projects, one<br />
US-based multinational is betting big on emerging markets including India. Emerson, a $24 billion<br />
conglomerate known for its compressors, industrial control valves and uninterrupted power supply<br />
systems, hopes to increase its India sales to $1 billion (about Rs 5,000 crore) by 2015. In an email<br />
interview with <strong>the</strong> Business Standard Emerson's president and chief operating officer Ed Monser shares<br />
<strong>the</strong> company's India plans.<br />
Why is Emerson bullish on India? The company in its 2012 outlook expects emerging markets to show<br />
strong growth.<br />
A lot of what Emerson offers by way of technology and engineering solutions is focused on automation<br />
and power management. We do this with energy efficiency in mind. This means that when any market is<br />
experiencing an infrastructure boom or significant economic growth, like India, it is a market that is ripe<br />
for Emerson technology solutions. Markets w<strong>here</strong> more power, delivered more efficiently are needed<br />
are good markets for us. The fact that we have invested in 15 major facilities across <strong>the</strong> country and 100-<br />
plus offices is testament to our commitment to India.<br />
We deliver our technology solutions in India through four core businesses. Emerson Network Power<br />
focuses on back-up power systems, precision cooling and connectivity technologies for data centres and<br />
telecommunications networks. Emerson Process Management enables process industries with better<br />
plant management through intelligent control systems and software. Emerson Industrial Automation<br />
improves manufacturing productivity for a range of industries by offering fluid automation to electrical<br />
drives and power-generation technologies. Finally, Emerson Climate Technologies enhances household<br />
and commercial comfort, plus food safety and energy efficiency via air-conditioning, refrigeration and<br />
heating technologies.<br />
As India builds out its infrastructure, improves its efficiency standards and looks to optimize<br />
manufacturing efficiency, Emerson is ready with technology and engineering solutions. Moreover we are<br />
also focused on developing new solutions that meet <strong>the</strong> needs of our customers in India. That is why we<br />
have nearly 4,000 of our 8,000-plus India employees focused on engineering and innovation.<br />
Globally Emerson expects sales to grow at 4-6 percent in 2012. What is <strong>the</strong> sales guidance for India<br />
and which business segments will be <strong>the</strong> drivers of growth?<br />
Over <strong>the</strong> last few years, we have experienced growth in <strong>the</strong> double-digit range in India. Our economic<br />
outlook for India is for gross fixed investment to grow over 9 percent during <strong>the</strong> next five years. So we
expect to see continued growth in India across all of our core businesses during this period. We are<br />
targeting to have sales of $1 billion (about Rs 5,000 crore) in India by 2015.<br />
Investment climate in India has been subdued in recent times. Infrastructure and construction projects<br />
have been deferred or are stuck. How is this impacting Emerson's business in India? Please share<br />
revenue and profit performance for <strong>the</strong> company's India operations in FY 2012. What have been <strong>the</strong><br />
challenges to growth in India?<br />
We did well in fiscal year 2011 with sales of approximately $700 million in India (about Rs 3500 crore).<br />
We are targeting to reach $1 billion in sales in India by 2015. Our focus continues to be on major sectors<br />
like oil and gas and power generation, all of which are growing. While growth may have slowed down a<br />
bit this year, nothing has been cancelled. It has only been deferred. It is also important to note that<br />
overall trends show growth in infrastructure and that metals, oil and gas and power as sectors will do<br />
very well in <strong>the</strong> future.<br />
Emerson recognizes that infrastructure development is <strong>the</strong> driving force behind economic growth in<br />
India. Better infrastructure will lower business costs in <strong>the</strong> country and enhance GDP growth. We have a<br />
lot of experience helping emerging markets improve <strong>the</strong>ir infrastructure.<br />
What are Emerson's expansion plans in India? What investment does <strong>the</strong> company plan to make in FY<br />
2013 (calendar year 2012) and in which sectors? Is Emerson looking at developing India as an export<br />
center for its products?<br />
India is one of Emerson's top emerging markets and is already <strong>the</strong> second largest market in Asia-Pacific<br />
for us. Presently, 35 percent of Emerson is global sales are from emerging markets. We expect this to<br />
reach 45 percent in 2015. Our investments are based on a model of growth from emerging markets<br />
customers and we base our India investments on this model. Emerson has made investments in India of<br />
about $750 million to 800 million (Rs. 3,500-Rs 4,000 crore) in <strong>the</strong> last three to four years across all<br />
business units. One example is our Emerson Process Management investment in Chennai when we<br />
acquired Fisher Sanmar.<br />
Emerson in India has invested significantly to serve <strong>the</strong> local market and over 90 percent of what we sell<br />
in India is domestically produced. We are also exporting some products made in India to <strong>the</strong> Middle East<br />
and o<strong>the</strong>r parts of Asia. We view India not as a low-cost market but as a best-cost market.<br />
Our focus in India is on manufacturing best-in-class engineering products. For example, some of our<br />
industrial valves and process valves being used in <strong>the</strong> oil and gas industries in <strong>the</strong> Middle East w<strong>here</strong><br />
quality is absolutely vital from a safety standpoint are made in India. We also export compressors for <strong>the</strong><br />
air conditioning and refrigeration industries and alternators. We have built significant global engineering<br />
capabilities in India. So, for example, w<strong>here</strong>ver Emerson is working on a refinery project, our India<br />
engineers are usually involved from a project engineering standpoint.<br />
In <strong>the</strong> next four years Emerson is looking at $5-6 billion worth of acquisitions which is higher than <strong>the</strong><br />
initial target ($4-5 billion). Can you share <strong>the</strong> reason for <strong>the</strong> hike in target? Are you looking at<br />
acquisitions in India and in which sectors? By when do you propose to close <strong>the</strong> acquisitions in India?<br />
We have made quite a few acquisitions in India in <strong>the</strong> recent past. We are always open to considering<br />
acquisitions that are aligned to our business strategy. India is obviously one of our target markets. We<br />
do not have any announcements at this time.
Emerson plans to focus on three growth initiatives (portfolio management, strategic investments and<br />
emerging markets) to achieve sales growth in 2011-2015. How is this strategy being implemented in<br />
relation to and in India?<br />
In terms of portfolio management, it means we are repositioning our portfolio of businesses into higher<br />
growth and more profitable markets. We will be pursuing acquisitions globally that align with our valuecreation<br />
strategy. We will continue to make strategic investments in innovation and marketing for our<br />
core businesses (process management, network power, industrial automation, and climate<br />
technologies). Obviously India is one of our emerging markets and we will continue to invest in this<br />
market because we see more potential for growth.<br />
What are Emerson's fundraising plans to support its ongoing and future projects in India? Is Emerson<br />
India planning to raise funds from Indian markets from <strong>the</strong> debt or equity route? Please share details.<br />
We do not comment publicly on <strong>the</strong> details of our specific financing arrangements, but I can tell you we<br />
had ano<strong>the</strong>r solid performance in cash flow from operations in fiscal 2011 at $3.2 billion. Generating<br />
strong cash flow continues to be one of our highest priorities. In fact, Emerson generated nearly $16<br />
billion of operating cash flow during <strong>the</strong> past five years. A strong cash position allows us to invest in<br />
growth programs, fund acquisitions <strong>the</strong> types of activities we have been doing in India and will continue<br />
to do in <strong>the</strong> future as well as provide consistent, long-term value returns for shareholders.<br />
How much does India contribute to Emerson's total consolidated revenue?<br />
Global sales in fiscal 2011 were $24.2 billion and India's contribution to this was $700 million.<br />
Will you be able to share details on proposed investment by Emerson in India?<br />
Emerson will be targeting India-specific investment of $35-40 million (Rs 175-200 crore) annually over<br />
<strong>the</strong> next five years. We invest as we see good opportunities. We make investments to enable both<br />
organic and inorganic growth and we evaluate <strong>the</strong>se investment opportunities for <strong>the</strong> business impact<br />
<strong>the</strong>y can make on Emerson as a whole.<br />
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<strong>Indo</strong>-US Corporate News<br />
R-Power gets $80-mn export financing nod from US Exim Bank<br />
The Export-Import Bank of <strong>the</strong> US has approved a USD 80.32 million (over Rs. 400 crore) direct loan for<br />
Anil Ambani-led Reliance Group firm R-Power's purchase of solar power technology from <strong>American</strong><br />
companies.<br />
The technology would be purchased from companies in eight states of <strong>the</strong> US and would be used for R-<br />
Power (Reliance Power) solar energy project in Rajasthan, India.<br />
The Exim Bank said that its board has approved <strong>the</strong> loan for this project, named Rajasthan Sun<br />
Technique Energy Private Limited -- a subsidiary of R-Power and being co-financed by Asian<br />
Development Bank and Dutch development bank. The US companies involved in <strong>the</strong> transaction include<br />
AREVA Solar Inc., EI DuPont de Nemours and Co, Clifford Chance Rogers Wells LLP, 3M Company, Sika<br />
Corp, CCI Corp, CertainTeed Corp, Huck International Inc. and Weed Instrument Company Inc.<br />
R-Power recently commissioned <strong>the</strong> country's largest solar project, with a capacity of 40 MW, in<br />
Rajasthan and plans to add ano<strong>the</strong>r 100 megawatt capacity in <strong>the</strong> next one year. After commissioning of<br />
<strong>the</strong> plant, group chairman Anil Ambani had said that R-Power plans to invest more than Rs. 6,000 crore<br />
for solar projects in Rajasthan in two years.<br />
R-Power is looking at doubling <strong>the</strong> capacity to 300 MW in <strong>the</strong> next 24 months, entailing an investment of<br />
more than Rs. 6,000 crore. The 40 megawatt plant has been set up at an investment of about Rs. 700<br />
crore."R-Power's vision is to become India's largest green power company and <strong>the</strong> commissioning of this<br />
solar project is <strong>the</strong> first major step in that direction," Ambani said.<br />
Commenting on <strong>the</strong> latest Exim Bank loan, it’s Chairman and President Fred Hochberg said: "This<br />
transaction will give renewable energy US exporters a larger footprint in India, and it will help <strong>the</strong>m be<br />
competitive against <strong>the</strong> German and Chinese companies in this field." "We are excited to be at <strong>the</strong><br />
forefront of financing this innovative technology and meeting <strong>the</strong> demands in India for cutting-edge,<br />
<strong>American</strong>-made solar equipment," he added.<br />
The loan would help support jobs at <strong>the</strong> US companies, Exim Bank noted. Areva Solar CEO Bill Gallo said<br />
<strong>the</strong> Ex-Im Bank loan is an important component in helping US companies and its subcontractors<br />
compete for and execute solar energy projects in a competitive global market while creating <strong>American</strong><br />
jobs and economic growth.<br />
R-Power CEO J. P. Chalsani said this is <strong>the</strong> second loan approval by Ex-Im Bank in <strong>the</strong> company's<br />
renewable energy initiative.<br />
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L&T delivers $40-mn nuclear equipment to US<br />
Larsen and Toubro (L&T) has started <strong>the</strong> delivery of $40 million (approximately Rs 200 crore) worth of<br />
equipment used in nuclear reactors to <strong>the</strong> US, according to MV Kotwal, member of <strong>the</strong> board and<br />
president (heavy engineering), L&T.“The order size now seems small but <strong>the</strong>re will be continuous<br />
requirement for <strong>the</strong> equipment that we have exported to <strong>the</strong> US,” he told.
L&T’s disclosure on <strong>the</strong> nuclear equipment supplies to <strong>the</strong> US has also marked <strong>the</strong> first indigenous<br />
development and delivery of heat exchanger tubes for steam generators used in nuclear power reactors<br />
by <strong>the</strong> Hyderabad-based Nuclear Fuel Complex (NFC), a unit of <strong>the</strong> department of atomic energy. NFC is<br />
<strong>the</strong> fourth company in <strong>the</strong> world to produce <strong>the</strong>se alloy tubes (or U tubes), which have very stringent<br />
technical requirements covering chemical and mechanical properties, ultrasonic testing, according to<br />
NFC officials.<br />
L&T had placed Rs. 45 crore worth of orders with NFC to develop and supply <strong>the</strong>se heat exchangers for<br />
<strong>the</strong> nuclear reactors being built for <strong>the</strong> Nuclear Power Corporation of India (NPCIL) instead of importing<br />
<strong>the</strong> same.<br />
The decision for indigenous development of this important component of <strong>the</strong> steam generator came<br />
after <strong>the</strong> NPCIL was told by <strong>the</strong> foreign suppliers that <strong>the</strong> time of delivery and price of <strong>the</strong> tubes will be<br />
decided by <strong>the</strong>m, according to SK Jain, chairman and managing director of NPCIL.<br />
“I recently said that India is going to become a global hub of nuclear reactor technology and <strong>the</strong> day has<br />
already come,” Jain said referring to L&T's equipment supplies to <strong>the</strong> US. According to Kotwal, L&T has<br />
also received orders for supply of nuclear reactor equipment from Europe as well.<br />
Kotwal said that <strong>the</strong> Rs. 1,700-crore joint venture facility, being set up by L&T and NPCIL with a 74; 26<br />
per cent equity holding at Hazira for manufacturing outer shells of steam generators and o<strong>the</strong>r<br />
equipment apart from heavy forgings, had started operations.<br />
The Phase-I will see <strong>the</strong> facility handling 300 tons of forgings, which will be scaled to a 600-tonne<br />
capacity in Phase-II, according to him. Meanwhile, responding to a question, Jain said that NPCIL was<br />
working round-<strong>the</strong>-clock to commission <strong>the</strong> Kudankulam nuclear plant at <strong>the</strong> earliest possible.<br />
NPCIL had achieved 40 per cent growth in energy generation this year to 32,000 million units (mu) as<br />
compared to 26,000 mu last year, while revenues from <strong>the</strong> sale of power had gone up to Rs 8,000 crore<br />
from Rs. 5,000 crore last year, he said. Availability of uranium, <strong>the</strong> fuel used for nuclear energy<br />
generation, will be up by 25 per cent with <strong>the</strong> mining operations recently launched at Tummalapalle<br />
uranium mines in Andhra Pradesh, according to him.<br />
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GM to utilize Indian diesel facility globally<br />
Driven by <strong>the</strong> robust demand for diesel vehicles in <strong>the</strong> Indian market, <strong>the</strong> US-based auto major, General<br />
Motors, is working on developing diesel engines for <strong>the</strong> range of vehicles lined up for launch in <strong>the</strong><br />
country. The capability for which will <strong>the</strong>n find its way to o<strong>the</strong>r diesel-intensive markets globally.<br />
The company, which has already introduced a diesel <strong>version</strong> of small car Beat in mid-2011, is looking at<br />
introducing diesel variants of premium hatchback Sail and <strong>the</strong> new multi-purpose vehicle later in <strong>the</strong><br />
year. The diesel engine technology for <strong>the</strong>se vehicles has been developed by <strong>the</strong> car maker in India, and<br />
will later be made available to markets in North and South Africa to begin with.<br />
Lowell Paddock, president and managing director, General Motors India, said, “The diesel development<br />
carried out on our future Sail and MPV programmes will certainly support entry into markets outside<br />
India w<strong>here</strong> consumers have a strong preference for diesel engines.” Though no destinations have been<br />
finalized for exporting diesel technology from India, company executives indicated that markets in North<br />
and South Africa would be considered initially. While <strong>the</strong> company does not have any plans to
manufacture <strong>the</strong> 1.0 liter diesel engine for <strong>the</strong> Beat elsew<strong>here</strong> in <strong>the</strong> world, no final call has been taken<br />
as to whe<strong>the</strong>r diesel engines for <strong>the</strong> Sail and <strong>the</strong> MPV will be manufactured exclusively in India.<br />
The 1.0 liter diesel engine for <strong>the</strong> Beat (<strong>the</strong> company’s smallest diesel engine globally) is manufactured<br />
at GM’s plant in Talegaon, Maharashtra. The capability for diesel engines is being developed by GM’s<br />
technical center in Bangalore which currently has 2,100 employees. The company has five engineering<br />
centers, four design centers and nine satellite research and development facilities within GM<br />
International Operations. The technical center India in Bangalore is a medium-sized engineering<br />
operation which specializes in tailoring vehicles for <strong>the</strong> Indian market while also undertaking<br />
engineering work for GM globally<br />
P. Balendran, vice-president (corporate affairs), informed, “Diesel vehicles constitute around 42-45 per<br />
cent of overall passenger vehicle sales today. But w<strong>here</strong>ver, petrol and diesel variants are both available,<br />
80 per cent of sales come from <strong>the</strong> diesel option. If I talk about <strong>the</strong> Beat alone, diesel sales used to be 40<br />
per cent earlier, now it has gone up to 80 per cent. It has thus become important to develop <strong>the</strong><br />
capability.”<br />
Industry estimates say diesel variants accounted for 28 per cent of passenger vehicle sales in <strong>the</strong> last<br />
financial year. With petrol prices rising five times in <strong>the</strong> current financial year, <strong>the</strong> differential between<br />
<strong>the</strong> two fuels now stand at Rs. 25.51 per litre, up from Rs. 10 in April 2010, making an increasing number<br />
of consumers opt for diesel cars.<br />
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India, US joint $125 million fund for research in clean energy<br />
India and <strong>the</strong> United States have announced a joint $ 125 million fund to carry out combined research in<br />
<strong>the</strong> field of clean energy. As such three institutions each from India and <strong>the</strong> US have been selected for<br />
<strong>the</strong> US-India Joint Clean Energy Research and Development Center (JCERDC), which is part of <strong>the</strong> US-<br />
India Partnership to Advance Clean Energy, announced during <strong>the</strong> November 2009 visit of US President<br />
Barack Obama to India.<br />
While National Renewable Energy Laboratory, University of Florida and Lawrence Berkeley National<br />
Laboratory have been selected from <strong>the</strong> US, three Indian institutions are <strong>the</strong> Indian Institute of Science-<br />
Bangalore, <strong>the</strong> Indian Institute of Chemical Technology-Hyderabad, and CEPT University-Ahmedabad.<br />
Consortia researchers will leverage <strong>the</strong>ir expertise and resources in solar technology, advanced biofuels<br />
and building efficiency to unlock <strong>the</strong> huge potential of clean energy technologies that can reduce energy<br />
use, cut dependence on foreign oil, and accelerate <strong>the</strong> deployment of renewable energy sources, <strong>the</strong> US<br />
Department of Energy said.<br />
"This innovative research programme will help promote clean energy, create jobs, and open export<br />
opportunities for US business," said David Sandalow, Assistant Secretary for Policy and International<br />
Affairs in <strong>the</strong> Department of Energy. "By bringing some of our best scientific and technical minds<br />
toge<strong>the</strong>r, we can streng<strong>the</strong>n both our great nations," Sandalow said. As part of a planned five-year<br />
initiative, <strong>the</strong> Energy Department will make $5 million available in fiscal year 2012. The Department<br />
plans to make additional requests to Congress for up to $ 20 million over <strong>the</strong> next four years.<br />
India has committed to funding $ 25 million over five years that will be used to support work by Indian<br />
institutions and individuals. In addition, U.S and Indian consortia members have pledged over $ 75<br />
million in matching funds, for a combined funding total of more than $ 125 million for joint research and<br />
development in solar energy, advanced biofuels and building energy efficiency.
In solar energy, <strong>the</strong> consortium's research will focus on sustainable photovoltaics, multiscale<br />
concentrated solar power, and solar energy integration. In addition, <strong>the</strong> consortium will focus on<br />
development of sustainable advanced lignocellulosic biofuel systems. They will also focus on <strong>the</strong><br />
integration of information technology with building controls and physical systems for commercial and<br />
high-rise residential buildings.<br />
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CA Technologies scouts for acquisitions in India<br />
CA Technologies, a Nasdaq-listed IT management software and solutions company, is pursuing<br />
acquisition opportunities across geographies, including in India, with a ticket size of between $10 million<br />
and $500 million, according to chief executive officer William E McCracken.<br />
“We are constantly scouting for potential targets across <strong>the</strong> world, and we probably have between 200<br />
and 300 companies on our merger and acquisitions' radar at any given point of time as <strong>the</strong>re is so much<br />
of innovation happening in <strong>the</strong> industry. Obviously, India is a good technology location and hence is a<br />
good target for us. In <strong>the</strong> last two-and-a-half years, <strong>the</strong> over $4.5-billion company had invested around<br />
$2 billion in acquisitions, including Oblicore, 3Tera, nimsoft, NetQoS and 4Base. It also bought Arcot<br />
Systems for $200 million, which has a 115-strong research and development (R&D) center in Bangalore,<br />
during this period.<br />
McCracken said that CA was expected to invest anyw<strong>here</strong> between $300 million and $500 million during<br />
this year for acquisitions, primarily driven by cloud technologies, mobile device management,<br />
application lifecycle management and everything wrapped around it, service assurance and<br />
infrastructure management. The buyouts will help in aligning those technologies with that of CA’s and<br />
develop global solutions, he said. “We are not in any specific discussions right now. We make decisions<br />
just as a prospect,” he said, while declining to spell out a time frame.<br />
To hire 500 more:<br />
CA’s single-largest R&D facility, <strong>the</strong> India Technology Centre (ITC), currently has 2,000 personnel of its<br />
over 13,000 employees globally, developing common platforms across <strong>the</strong> its products and building<br />
<strong>the</strong>m into solutions. The ITC develops about 30 per cent of CA's global products.<br />
McCracken said <strong>the</strong> ITC, <strong>the</strong> company’s third center globally with <strong>the</strong> o<strong>the</strong>r two being in Silicon Valley in<br />
California and Prague in Europe, had so far seen an investment of over $60 million in infrastructure<br />
alone.<br />
“The ITC is a key part of our strategy. With <strong>the</strong> growth of <strong>the</strong> marketplace at over 7 per cent, it is an<br />
enormous opportunity for us to do business <strong>here</strong>. Taking our employee strength at <strong>the</strong> ITC to 2,500 in<br />
<strong>the</strong> next five years is a reasonable target for us,” he added.<br />
Meanwhile, CA, in partnership with <strong>the</strong> International Institute of Information Technology, Hyderabad<br />
(IIIT-H), on Tuesday opened <strong>the</strong> University Innovation Centre at its ITC. The centre will blend <strong>the</strong><br />
expertise of CA software thought leaders with IIIT-H’s research resources to create and drive delivery of<br />
new products and centers.<br />
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USTDA awards grant to Azure Power<br />
An independent solar power producer, Azure Power, has been awarded a $ 476,670 grant from <strong>the</strong><br />
United States Trade and Development Agency (USTDA). The grant will fund a feasibility study on two<br />
500-kW micro-grid solar photo-voltaic power generation pilot projects in Gujarat and Chhattisgarh, <strong>the</strong><br />
company said in a statement.
Following <strong>the</strong> study, Azure aims to set up over 100 micro-grid solar systems, with each system covering<br />
an average of 2-3 acres of rural land which would generate sufficient power to provide electricity to<br />
approximately 800-1,000 villages with little or no connectivity to existing electrical grids. The study has<br />
to be completed by 2014.<br />
T<strong>here</strong> are an estimated 58,000 villages without electricity which toge<strong>the</strong>r provide a market potential of<br />
about 0.9 GW, <strong>the</strong> company said.<br />
Micro grids are islands of renewable power generation, power storage and enable localized power<br />
distribution. Given <strong>the</strong> power-starved situation in several thousand Indian villages, w<strong>here</strong> gridconnectivity<br />
is yet to be realized, Azure Power believes that micro-grids are a viable energy alternative<br />
for household and agricultural purposes.<br />
The grant was signed by Mr. Henry Steingass, Regional Director for USTDA, in <strong>the</strong> presence of <strong>the</strong> US<br />
Secretary of Commerce, Mr. John Bryson, at a FICCI interaction.<br />
Ms. Leocadia I. Zak, Director, USTDA said, “We are greatly enthused by <strong>the</strong> rapid growth of solar power<br />
in India in <strong>the</strong> last couple of years. However, <strong>the</strong> potential for micro-grid solar projects in <strong>the</strong> country<br />
remains largely untapped.”<br />
“We are committed to working closely with <strong>the</strong> Indian and US companies that are looking at <strong>the</strong> microgrid<br />
opportunities in India,” she added.<br />
GRANT FOR CESC<br />
The second grant signed by <strong>the</strong> USTDA will finance a feasibility study for CESC Limited for <strong>the</strong><br />
implementation of smart grid technologies across <strong>the</strong>ir distribution networks in Kolkata, India. The study<br />
will develop a smart grid pilot project as well as <strong>the</strong> requirements for broad implementation, a USTDA<br />
release.<br />
Ford to ‘Focus’ on Indian market<br />
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US car major Ford Motor Corp has said that it will launch a range of small cars in India by 2015 to gain<br />
market share. The firm intends to develop a car smaller than its entry-level Figo, while it may also bring
its premium hatchback Focus in <strong>the</strong> country. These will be part of at least six new cars that <strong>the</strong> company<br />
plans to bring to India by 2015 besides <strong>the</strong> compact SUV EcoSport that will be launched early next year.<br />
“We are capable and willing to make and sell cars smaller and cheaper than <strong>the</strong> Figo,” said Joe Hinrichs,<br />
president, Asia Pacific and Africa, Ford Motor Corporation. “Figo was not part of our global portfolio and<br />
we built it from scratch for India and o<strong>the</strong>r emerging markets. Its success has given us confidence and<br />
now I think we know what Indian consumers want.”<br />
Ford India sold 92,748 units in 2011-12 that gave it a share of around 3.2% in <strong>the</strong> domestic market. Figo<br />
accounted for over 75% of <strong>the</strong> company’s total sales. The firm believes its future products that will be<br />
concentrated on <strong>the</strong> voluminous small car segment, would help increase that share. It also said it may<br />
bring in premium hatchback Focus that has long been rumored to be on its way to India.<br />
“Personally, I think a car like Focus makes perfect sense in India,” he said. “The mindset of Indian<br />
consumers is that <strong>the</strong>y wish to own a sedan as a mark of luxury. But that is witnessing a gradual change.<br />
People also want a more powerful but feature-rich hatchback that is more practical for city driving.”<br />
Ford showcased a pre-production <strong>version</strong> of <strong>the</strong> compact SUV EcoSport at <strong>the</strong> Beijing Auto Show.<br />
The vehicle is expected to go on sale in Brazil later this year and almost simultaneously in India and<br />
China early next year. While it will be offered only in a petrol engine in China, it will have a diesel <strong>version</strong><br />
in India as well. “Considering <strong>the</strong> high demand for diesel cars in India, we will offer a diesel engine on<br />
<strong>the</strong> SUV besides <strong>the</strong> 1-litre eco-boost petrol engine,” he said.<br />
Ford is targeting a 50% increase in global sales to around 8 million units by 2015 and is banking on China<br />
and India to play bigger roles in it. Already overall sales from <strong>the</strong> Asia Pacific region have grown from 12<br />
million per year in 2000 to 31 million a year last year.<br />
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An<strong>the</strong>lio, US-based firm, eyes Indian healthcare market<br />
An<strong>the</strong>lio, <strong>the</strong> US-headquartered IT solutions and business process services company for <strong>the</strong> healthcare<br />
industry, plans to enter <strong>the</strong> Indian market next year and is already in talks with a few hospitals.<br />
The firm, which has its facility in Hyderabad, is currently engaged in research to figure out <strong>the</strong> best<br />
solutions for healthcare providers in India. "It may take six to eight months for us to figure out <strong>the</strong> best<br />
solutions. We are expecting something for <strong>the</strong> Indian market in 2013," Vish Sivaswamy, head, Global<br />
Practices, An<strong>the</strong>lio Business Technologies, told IANS.<br />
The company is already in talks with a few hospitals, including a 1,000-bed hospital. They want<br />
economically good solutions. We have to find out what <strong>the</strong>y are, he said.<br />
An<strong>the</strong>lio, which is headquartered in Dallas, Texas, and has over 2,000 employees in <strong>the</strong> US and in India,<br />
is also looking at <strong>the</strong> European market. It recognizes <strong>the</strong> fact that <strong>the</strong> requirements for both Indian and<br />
European markets are different from <strong>the</strong> US market, which it is currently serving.<br />
Sivaswamy points out that <strong>the</strong> use of IT in <strong>the</strong> Indian healthcare sector is limited as <strong>the</strong> country is<br />
focusing more on reaching medical technology to people. A good electronic health record system in <strong>the</strong><br />
US will cost anyw<strong>here</strong> between $10 million and $30 million. In India, you can build 10 hospitals with that<br />
money, he said.
Unlike <strong>the</strong> US w<strong>here</strong> <strong>the</strong> healthcare system is focused on <strong>the</strong> clinical side of <strong>the</strong> data like maintaining<br />
<strong>the</strong> background of a patient and using <strong>the</strong> data for research, <strong>the</strong> outlook of hospitals in India is limited to<br />
using IT for registration of patients, billing and insurance.<br />
As <strong>the</strong> government of India is thinking of digitizing <strong>the</strong> health records of citizens through<br />
universalization of unique identification (UID), An<strong>the</strong>lio is ready to work with <strong>the</strong> government to evolve<br />
<strong>the</strong> best system.<br />
"We know how <strong>the</strong> US system works. The question is how we use clinical data of a person throughout<br />
his life, who should own it, should it be hospital, <strong>the</strong> state agencies or a separate authority. T<strong>here</strong> is lot<br />
of discussion going on. Unless that comes to some shape, we may not know what <strong>the</strong> right technology<br />
solutions for Indian market are." In <strong>the</strong> US, hospitals own and keep <strong>the</strong> data while in Britain it is <strong>the</strong><br />
state which owns and maintains it.<br />
Formerly known as Conjoin in India, <strong>the</strong> company was re-branded as An<strong>the</strong>lio following acquisition of a<br />
company in Dallas in 2010. It has multiple locations in <strong>the</strong> US and two locations in India at Hyderabad<br />
and Mumbai. The Hyderabad facility, which has 470 employees, supports healthcare business, which<br />
contributes to 98 percent <strong>the</strong> company's business. Two-thirds of <strong>the</strong> company's business is IT, while a<br />
third comes from business processes.<br />
Seventy five to 80 percent employees at An<strong>the</strong>lio's Hyderabad facility have some kind of clinical<br />
background or clinical-technology expertise. They include physicians, physio<strong>the</strong>rapists, a couple of<br />
homoeopaths and dentists, all trained in technology.<br />
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Donald Trump expands footprint of Trump Hotel Collection in India<br />
US real estate billionaire Donald Trump is expanding <strong>the</strong> footprint of his Trump Hotel Collection across<br />
India, betting big on <strong>the</strong> branded luxury homes and hospitality market in <strong>the</strong> country.<br />
The Trump Organization, known for its luxury properties across <strong>the</strong> globe, is also exploring mixed-use<br />
projects that could include multiple Trump branded products in one master plan - residences, golf, and<br />
hotel - as it sees growing demand for this genre of products from rich Indians, Donald Trump Jr.,<br />
executive vice-president of Trump Organization, said in an email interaction.<br />
"We are working with local developers to bring Trump Hotel Collection, our wholly-owned hotel<br />
management company, to India," he said. "Just like our luxury branded residences, Trump Hotel<br />
Collection will offer <strong>the</strong> Indian market <strong>the</strong> best in luxury."<br />
According to Trump Jr., <strong>the</strong> company is currently in talks with "very high-caliber" developers for<br />
executing its product developments across <strong>the</strong> country. "We have some exciting projects in <strong>the</strong> works<br />
which we look forward to sharing in <strong>the</strong> coming months," he said.<br />
It's been more than a year since <strong>the</strong> company announced a joint venture with Rohan Lifescapes for its<br />
maiden luxury residential project in India, <strong>the</strong> Trump Tower in south Mumbai. However, <strong>the</strong> plan has not<br />
moved any fur<strong>the</strong>r in <strong>the</strong> backdrop of regulatory and social hurdles, including a tenant family opposing<br />
<strong>the</strong> project, driving talks that <strong>the</strong> tie-up is coming to an end. However, Trump is optimistic about taking<br />
<strong>the</strong> Mumbai project forward soon.<br />
"Now that (civic authority's) new Development Control Rules are out and project approvals have been<br />
forthcoming, <strong>the</strong> developer, Rohan Lifescapes, is working on getting <strong>the</strong> approvals and we are hopeful<br />
that <strong>the</strong>se will be granted soon," Trump Jr. said.
"We remain excited about <strong>the</strong> Mumbai market and moving this project to <strong>the</strong> next step." Though he<br />
believes <strong>the</strong>ir brand will do "extremely well" in Mumbai, he foresees opportunities in o<strong>the</strong>r key cities,<br />
including Bangalore and <strong>the</strong> National Capital Region, besides luxury leisure destinations such as Goa.<br />
"T<strong>here</strong> is tremendous wealth and demand for luxury branded real estate products," he said.<br />
The Trump Hotel Collection, launched in 2007, has seven operational properties with 3,280 guestrooms.<br />
This collection also includes <strong>the</strong> Trump International Hotel & Tower New York, which opened 15 years<br />
ago.<br />
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News Corp unit sells stake in India's Hathway for $72 million<br />
A unit of Rupert Murdoch's News Corp sold its 17.3 percent stake in Indian cable television services<br />
provider Hathway Cable and Datacom Ltd. for 3.6 billion rupees. Asian Cable Systems Pvt. Ltd. sold 24.7<br />
million shares of Hathway to Providence Equity Advisors and Macquarie for about 145 rupees a share,<br />
according to filings with <strong>the</strong> National Stock Exchange.<br />
Hathway, which has market values at $508 million, ended up 0.8 percent at 179.30 rupees, while <strong>the</strong><br />
broader Mumbai market rose 0.5 percent. Asian Cable Systems was <strong>the</strong> biggest shareholder in <strong>the</strong><br />
company before <strong>the</strong> deal.<br />
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Biocon to tap atorvastatin market in US<br />
Biotech major Biocon is planning to sell anti-cholesterol drug, atorvastatin, in <strong>the</strong> US from FY2013. The<br />
US market for atorvastatin opened up recently for generic companies. Biocon plans to follow Watson<br />
and Ranbaxy, which have already released <strong>the</strong>ir products and are currently under six months' exclusivity<br />
phase.<br />
“We have partnerships for atorvastatin active ingredient and we expect <strong>the</strong>se partners to commercialize<br />
<strong>the</strong> products in <strong>the</strong> US from FY13 onwards, claimed Mr. Rakesh Bamzai, President-Marketing, Biocon.<br />
“The company is one of <strong>the</strong> largest producers of statins. We continue to focus significantly on our statins<br />
portfolio. You will see developments from <strong>the</strong> month of May,” he added.<br />
The company has seen a significant growth in branded atorvastatin (Statix) as well as sales of active<br />
pharmaceutical ingredients (API).Similarly; Biocon is planning to tap <strong>the</strong> European market, w<strong>here</strong> it is<br />
currently selling atorvastatin with its partners. “In Europe, a few countries are still open, but <strong>the</strong> patents<br />
are expiring. Our products should be in those markets pretty soon,” Mr. Bamzai recently told analysts.<br />
Biocon has major presence in emerging and unregulated markets with its branded atorvastatin<br />
(Statix).On <strong>the</strong> company's biopharmaceuticals business, Mr. Bamzai said: “The existing products<br />
continue to grow and new launches will happen. Emerging markets will be growing with <strong>the</strong> new<br />
product launches happening <strong>the</strong>re.”<br />
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DLF inks pact with US accessories brand Claire<br />
DLF Brands and <strong>American</strong> fashion accessories brand Claire have entered into a franchise agreement to<br />
open at least 30 stores in <strong>the</strong> next three years. The retail arm of DLF Group has a slew of international<br />
brands under its umbrella including Boggi Milano, DKNY, Alcott, Sunglass Hut, ELC, Mo<strong>the</strong>rcare. “The<br />
first-ever Claire store in Delhi is a 100 per cent franchised store and is part of our overall strategy of<br />
bringing new range of product lines to our customers. The fashion accessories market in India is largely
dominated by unbranded players, <strong>the</strong>refore we see a huge market potential for branded players in this<br />
segment,” Mr. Dipak Agarwal, Chief Executive, Operations and Strategy, DLF Brands, said.<br />
The market for accessories is estimated at Rs. 1,000 crore and is growing at about 20 per cent. “We have<br />
seen a growth of about 23-28 per cent in <strong>the</strong> last two years. DLF Brands has always been very selective<br />
of <strong>the</strong> brands that we introduce to <strong>the</strong> Indian customers. We are hopeful of a good response for <strong>the</strong><br />
Claire's store and plan to open over 30 such stores across India in <strong>the</strong> next three years.” Claire's<br />
products are priced between Rs. 300 and Rs. 3,000.<br />
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US Based Xilinx Inc. inaugurates it largest R&D Centre in Hyderabad<br />
Chip-designer Xilinx Inc. has inaugurated its expanded facility in Hyderabad. "The facility, Xilinx's largest<br />
research and development centre outside <strong>the</strong> US, would continue to support all programmable<br />
technologies and devices," said Moshe Gavrielov, President and Chief Executive <strong>Of</strong>ficer, Xilinx Inc. The<br />
US-based company's advanced solutions including 28 nanometre next-generation technology were<br />
associated with India development center. "We have grown <strong>here</strong> from 60 professionals four years ago<br />
to 400 now. The investments <strong>here</strong> will be continued," he said.<br />
Significantly, <strong>the</strong> Indian Institute of Management Kozhikode (IIM-K) has signed an agreement of cooperation<br />
with Leeds University Business School, UK. The agreement is ano<strong>the</strong>r step in <strong>the</strong><br />
internationalization efforts of <strong>the</strong> institute and it will enable both <strong>the</strong> institutions to carry out activities<br />
such as exchange of students, exchange of faculty members and collaborative research on<br />
contemporary management issues, according to Dr. M. K. Nandakumar, Chairman, International<br />
Exchange Programme, IIM-K.<br />
Fur<strong>the</strong>r, The Biotechnology Industry Research Assistance Council (BIRAC) would be fully operational by<br />
<strong>the</strong> next financial year. BIRAC, a not-for-profit Section 25 company, was set up as a separate body by <strong>the</strong><br />
Department of Biotechnology (DBT) to enhance <strong>the</strong> strategic research and innovation capacity of<br />
biotech companies - especially Small and Medium Enterprises (SMEs) - in India.<br />
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Boeing to ship all four 787 Dreamliners built this year to Air India news<br />
Boeing Co will ship all four 787 composite-plastic Dreamliners assembled this year in its new South<br />
Carolina plant to Air India Ltd, which is claiming $1 billion in compensation for delays in production and<br />
delivery.<br />
The first of <strong>the</strong> jets rolled out yesterday from a 1.24 million-square-foot (115,000-square metre) hangar<br />
near Charleston, South Carolina and is expected to start flying in three to four weeks. Air India would<br />
take delivery at midyear, according to Jack Jones, Boeing South Carolina vice president.<br />
''I know we're a little late delivering this airplane, but when <strong>the</strong>y get it, <strong>the</strong>y're going to say it was worth<br />
it,'' Jim Albaugh, head of Boeing's commercial airplane division, told employees and South Carolina<br />
politicians including Governor Nikki Haley and US senator Lindsey Graham. The development ends over<br />
three years of delays and Boeing is seeking to speed up production of <strong>the</strong> twin-aisle jets to 10 a month<br />
by <strong>the</strong> end of 2013. The company has delivered 11 of <strong>the</strong> aircraft to Japan Airlines Co and All Nippon<br />
Airways Co, according to Marc Birtel, a spokesman.<br />
The planes come with a price tag of $193.5 million. The South Carolina facility, built at a cost of $750<br />
million, opened last year, and will build 3.5 planes a month by <strong>the</strong> end of 2013 or early 2014, Jones told<br />
reporters.<br />
The plant is <strong>the</strong> company's first new commercial-jet factory outside Washington's Puget Sound region,<br />
w<strong>here</strong> <strong>the</strong> company was established. Boeing's decision to build in <strong>the</strong> state, which bars union
membership as an employment condition, led to an accusation from <strong>the</strong> Machinists union of illegal<br />
retaliation for strikes.<br />
The National Labor Relations Board filed a complaint against Boeing, only to withdraw it after Boeing<br />
and <strong>the</strong> union reached a new contract that promised that <strong>the</strong> upgraded narrow- body 737, <strong>the</strong> MAX,<br />
would be built in <strong>the</strong> Seattle area.<br />
Albaugh offered no comments regarding any compensation to Air India, though he had last month<br />
disputed <strong>the</strong> Indian government's statement that <strong>the</strong> plane maker agreed to pay $500 million in<br />
compensation because of delays to <strong>the</strong> jet, that were to be delivered in May 2008. Air India demanded<br />
in February that <strong>the</strong> company pay up $1 billion after saying in August 2010 that it would seek $840<br />
million. At <strong>the</strong> time of placing orders, airlines sign for delivery slots, and with penalties for late deliveries<br />
like what Boeing is facing for <strong>the</strong> 787.<br />
South Carolina has been an important and at <strong>the</strong> same time an occasionally weak link of <strong>the</strong> chain.<br />
Problems and inefficiencies at plants owned by Boeing suppliers in South Carolina added to <strong>the</strong> delays in<br />
<strong>the</strong> 787's development. With a view to regain control of Dreamliner production, Boeing bought portions<br />
of <strong>the</strong> operations of two of its South Carolina partners in 2009.<br />
With <strong>the</strong> purchase of <strong>the</strong> two operations, Boeing went on to undertake a $750 million expansion to<br />
build Boeing South Carolina. According to Rob Stallard, an aerospace analyst, it had been pretty<br />
impressive how Boeing had got <strong>the</strong> whole operation toge<strong>the</strong>r, and was now actually rolling out an<br />
aircraft from a factory that has never made a plane before. Meanwhile, local leaders have used <strong>the</strong><br />
attention on South Carolina - a state unfriendly to unions, to promote <strong>the</strong> state as an aerospace<br />
manufacturing hub. Now a few aerospace companies have operations in South Carolina, which include<br />
Boeing, Honeywell International and Lockheed Martin. The plant has a 6,000-strong workforce and is<br />
expected to create more jobs in <strong>the</strong> state.<br />
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Infosys guns for more biz from US in healthcare, public service<br />
Infosys, India’s second-largest IT services company is angling for more business from <strong>the</strong> US, despite<br />
facing criticism in that country for alleged visa abuse. Infosys Public Services (IPS), <strong>the</strong> subsidiary formed<br />
by <strong>the</strong> company to focus on <strong>the</strong> US government and healthcare market back in October 2009, is now a<br />
$120-million business.<br />
“T<strong>here</strong> is a lot of interest in what we are bringing to <strong>the</strong> table and we have not faced any opposition,”<br />
said Ashok Vemuri, head of Americas, Infosys. “It (IPS) enhances our brand image and hopefully <strong>the</strong>re<br />
will be a positive rub off in <strong>the</strong> US,” he added. Vemuri said <strong>the</strong>re are two very clear business segments<br />
for IPS in <strong>the</strong> US — healthcare and public services. The healthcare services market is generally a quasigovernment<br />
activity, while <strong>the</strong> public services segment includes <strong>the</strong> federal, states and city<br />
governments. Besides Infosys, o<strong>the</strong>r Indian IT companies that have a presence in <strong>the</strong> US public sector<br />
market are Wipro and TCS. Wipro has a nine-year, $407-million outsourcing contract with <strong>the</strong> State of<br />
Missouri for delivering healthcare services to US citizens.<br />
According to Vemuri, <strong>the</strong> US government is one of <strong>the</strong> large innovators and consumers of technology.<br />
Some of <strong>the</strong> key areas w<strong>here</strong> IPS would be focusing are technology solutions for regulatory changes in<br />
healthcare segment and consulting and system integration solutions in various governments. IPS is<br />
already working with five state governments in <strong>the</strong> US, and in one of <strong>the</strong> business engagements, it even<br />
put <strong>the</strong> entire e-mail infrastructure of a government on <strong>the</strong> cloud.<br />
Vemuri was very categorical that IPS was not doing anything similar to what its parent company is doing.
“IPS is completely different with focus on consulting, solution; domain oriented and is a 100% <strong>American</strong><br />
company,” he said.<br />
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GE Foundation grants $1.6 m for education of rural women<br />
GE Foundation, <strong>the</strong> charitable arm of <strong>the</strong> US conglomerate General Electric, has pledged $1.6 million<br />
funding to an NGO to provide quality education and vocational skills to unemployed rural women.<br />
The grant would fund Pratham's innovative “Open School” initiative that allows young adults, especially<br />
women, complete <strong>the</strong>ir secondary education and improve <strong>the</strong>ir employment readiness through <strong>the</strong><br />
schools run by <strong>the</strong> NGO, besides aiding <strong>the</strong> organization’s ‘Read India' campaign in which <strong>the</strong>se students<br />
would teach children aged 3-14 years.<br />
Pratham is a non-government organization (NGO), working to provide quality education to <strong>the</strong><br />
underprivileged children in India. GE Foundation has been supporting Pratham since 2005. “We are<br />
pleased to be working with Pratham on this two- pronged approach that enables young women to ‘earn'<br />
<strong>the</strong>ir education and training as GE Fellows, and in turn, enlists <strong>the</strong>ir support to advance primary grade<br />
students' learning,” said Mr. Bob Corcoran, President, GE Foundation.<br />
“This is a new innovation in delivery of education for us and we are grateful to GE Foundation for<br />
continuing to support us strongly in our endeavors,” said Mr. Madhav Chavan, CEO of Pratham<br />
Education Foundation.<br />
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Agsri inks pact to sell us firm's drip irrigation system<br />
AgSri Agricultural Services Pvt. Ltd., an agriculture firm funded by Mr. Akula Vikram, has signed an<br />
agreement with <strong>the</strong> US-firm Driptech to exclusively distribute drip equipment in Andhra Pradesh.<br />
Already launched in Maharashtra and Gujarat, <strong>the</strong> equipment costs ` 12,000 an acre for a four-year<br />
system. This comes with proprietary technology that puts very small holes in pipes, allowing water to<br />
drip with uniform pressure.<br />
AgSri promoter Dr. Biksham Gujja, who has developed a water-efficient irrigation system for sugarcane,<br />
said Driptech’s equipment could be used for seasonal crops. Mr. Peter Frykman, Chief Executive <strong>Of</strong>ficer<br />
of Driptech, said his company would set up a manufacturing facility in India to produce <strong>the</strong> equipment<br />
locally.<br />
The company has entered into exclusive agreements with Siddhi Vinayak Agri Processing, Godrej<br />
Agrovet and Namdhari Seeds for different States and crops. It has covered about 1,500 acres in India so<br />
far. “We would like to cover Andhra Pradesh first. Later, we might look at Uttar Pradesh and Punjab,” he<br />
said.<br />
He argued that <strong>the</strong> new solution was far more efficient and cheaper than <strong>the</strong> conventional drip systems.<br />
“Farmers need not spend huge amounts. Besides, it avoids clogging in <strong>the</strong> holes. Water usage would<br />
come down by 60 per cent,” Dr. Biksham said.<br />
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Biogen Idec obtains approval for <strong>the</strong> first single-use, intramuscular auto injector<br />
Biogen Idec Biotech India Pvt. Ltd. (Biogen Idec India) announced <strong>the</strong> approval of <strong>the</strong> first single-use,<br />
intramuscular autoinjector for interferon beta-1a to be used by patients with multiple sclerosis (MS) in<br />
India. The new device, known as AVONEX® PEN, represents a significant new administration option for<br />
MS patients in India.
Approved by <strong>the</strong> Drug Controller General of India (DCGI), <strong>the</strong> new autoinjector is designed to enable<br />
easier, more convenient interferon beta-1a administration, improving <strong>the</strong> treatment experience for MS<br />
patients. It was approved based on data from a specific clinical study supporting its effectiveness as a<br />
new treatment administration option. Biogen Idec recently received approval in <strong>the</strong> United States and<br />
European Union, for <strong>the</strong> autoinjector. It is hoped that <strong>the</strong> autoinjectorwill help ease administration for<br />
patients who use interferon beta-1a <strong>the</strong>rapy and those who o<strong>the</strong>rwise may skip treatment due to fear<br />
of needle. The device is likely to be available across <strong>the</strong> country by <strong>the</strong> end of March 2012.<br />
“Interferon beta-1a has been an effective treatment with an established safety profile for MS patients<br />
for more than five years in India,” said Managing Director of Biogen Idec India, Sameer Savkur. “The<br />
approval of this first single-use, intramuscular autoinjector is an important milestone in Biogen Idec’s<br />
ongoing drive to bring new innovations to MS patients. Launching AVONEX® PEN,<strong>here</strong> is part of our<br />
company’s long-standing commitment to improve <strong>the</strong> lives of MS patients in India.”<br />
About Auto injectors<br />
Compliance to <strong>the</strong>rapy plays a vital role in ensuring desired outcomes in chronic <strong>the</strong>rapies. Auto<br />
injectors for chronic <strong>the</strong>rapies have been proven to be useful in improving ease of injection and<br />
reducing needle anxiety*, <strong>the</strong>reby improving compliance to <strong>the</strong>rapy. Thousands of patients with MS in<br />
India administer interferon beta-1a <strong>the</strong>rapy to treat <strong>the</strong>ir MS. Once-weekly interferon beta-1a<br />
(intramuscular) is one of <strong>the</strong> most prescribed treatments for relapsing forms of MS worldwide. It has<br />
been shown to slow <strong>the</strong> progression of physical disability and reduce relapses. It has been available for<br />
use in <strong>the</strong> United States for more than 15 years and in India for <strong>the</strong> past five years. The most common<br />
side effects associated with interferon beta-1a treatment are flu-like symptoms, including myalgia,<br />
fever, fatigue, headache, chills, nausea, vomiting, pain and as<strong>the</strong>nia.<br />
About Biogen Idec Biotech India Pvt. Ltd.<br />
Biogen Idec Biotech India Pvt. Ltd. is <strong>the</strong> Indian affiliate of Massachusetts based Biogen Idec. Through<br />
cutting-edge science and medicine, Biogen Idec discovers, develops, manufactures and markets<br />
<strong>the</strong>rapies for diseases with a focus on neurology, immunology and hemophilia. Founded in 1978, with a<br />
presence in India since 2007, it is <strong>the</strong> world's oldest independent biotechnology company. Patient’s<br />
worldwide benefit from its leading multiple sclerosis <strong>the</strong>rapies and <strong>the</strong> company generates more than<br />
$5 billion in annual revenues. For press releases and additional information about <strong>the</strong> company, please<br />
visit<br />
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Bharti-Walmart partners Maharahtra State govt. for retail training centre in Jalna<br />
The Walmart joint venture in India with <strong>the</strong> Sunil Mittal-led Bharti group, Bharti Walmart, today<br />
launched Bharti Walmart Training Centre at Jalna, Maharashtra, in a public-private partnership with <strong>the</strong><br />
Maharashtra government. The centre,will be amongst seventh in India, after Amritsar, Delhi, Bangalore,<br />
Zirakpur, Jalandhar and Ludhiana, will provide free training in retail skills to <strong>the</strong> youth aimed at creating<br />
s talent pool in <strong>the</strong> skills-starved retail sector.<br />
On 15 February this year, Bharti Walmart had signed a memorandum of understanding with <strong>the</strong> state<br />
government to launch three Bharti Walmart Training Centres in <strong>the</strong> state, at Thane, Aurangabad and<br />
Jalna. The agreement with <strong>the</strong> Maharashtra government seeks to replicate Bharti Walmart's model of<br />
running Bharti Walmart Training Centres at Amritsar, on a public-private partnership basis with <strong>the</strong><br />
Punjab government, in Delhi with Delhi government and Bangalore with <strong>the</strong> Karnataka government, and<br />
three training centres at its Best Price Modern Wholesale stores in Zirakpur, Jalandhar and Ludhiana in<br />
Punjab.
According to Murali Lanka, senior vice president, operations, Bharti Walmart, <strong>the</strong> retail sector in India is<br />
growing at an exponential rate and <strong>the</strong>refore provides tremendous growth opportunities. Lanka said,<br />
"The past few years have seen several companies starting <strong>the</strong>ir operations in India. However, <strong>the</strong><br />
industry lacks <strong>the</strong> talent pool with required skill sets to leverage this huge potential. Bharti Walmart<br />
Training Centres aim to bridge this gap by imparting training on various aspects of retailing to underprivileged<br />
youth making <strong>the</strong>m job-ready for <strong>the</strong>ir first employment in <strong>the</strong> retail sector.''<br />
The Maharashtra government's campaign of reaching out to <strong>the</strong> people of rural and semi-rural areas of<br />
<strong>the</strong> state through a 'mobilizing van' will help spread awareness about <strong>the</strong> Bharti Walmart Training<br />
Centre in Jalna district. The training curriculum at <strong>the</strong> centre is based on Walmart Stores best global<br />
practices and will be implemented through centum learning. This will help <strong>the</strong> people of Maharashtra to<br />
take advantage of <strong>the</strong> company's global knowledge and expertise in <strong>the</strong> retail business.<br />
Successful candidates will be certified by Bharti Walmart, which will also help <strong>the</strong> certified students find<br />
employment, <strong>the</strong> company said in a statement.<br />
The company has so far trained over 10,400 people free-of-cost at existing Bharti Walmart Training<br />
Centres and placed nearly 4,000 students in multiple leading companies in India, it added.<br />
Bharti Walmart Private Limited is <strong>the</strong> business-to-business joint venture between Bharti Enterprises and<br />
Walmart Stores Inc for wholesale cash-and-carry and back-end supply chain management operations in<br />
India to serve small retailers, manufacturers and farmers.<br />
The JV launched its first B2B Best Price Modern Wholesale cash-and-carry store in Amritsar in May 2009.<br />
A typical cash-and-carry store stands between 50,000 and 100,000 square feet and sells a wide range of<br />
fresh, frozen and chilled foods, fruits and vegetables, dry groceries, personal and home care, hotel and<br />
restaurant supplies, clothing, office supplies and o<strong>the</strong>r general merchandise items.<br />
The JV is expected to open a total of 12-15 new Best Price Modern Wholesale stores in India in 2012.<br />
Currently, <strong>the</strong>re are 17 Best Price Modern Wholesale stores located at Amritsar, Zirakpur, Jalandhar,<br />
Kota, Bhopal, Ludhiana, Raipur, <strong>Indo</strong>re, Vijayawada, Meerut, Agra, Lucknow, Jammu, Guntur,<br />
Aurangabad, Bhatinda and Amravati.<br />
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Caterpillar launches new production unit in Chennai<br />
Caterpillar India announced <strong>the</strong> launch of <strong>the</strong> company’s new backhoe loader manufacturing facility in<br />
Thiruvallur, near Chennai. While <strong>the</strong> company did not disclose <strong>the</strong> investment details, it said <strong>the</strong> new<br />
facility, its fourth in <strong>the</strong> country, would streng<strong>the</strong>n <strong>the</strong> company’s presence in India and would augment<br />
<strong>the</strong> distribution channel for <strong>the</strong> earth-moving machine by bringing in enhanced local production<br />
capabilities.<br />
Robert Droogleever, general manager for Caterpillar BHL Worldwide, who inaugurated <strong>the</strong> facility, said<br />
<strong>the</strong> demand for backhoe loaders has been gaining traction with <strong>the</strong> construction equipment industry<br />
growing at a rate of 15-20 per cent per annum.<br />
“With local manufacturing and long-term commitment, we aim to provide a quality product that meets<br />
this growing demand and brings us closer to our aim of attaining a market leadership position,” he said.<br />
Kevin Thieneman, country manager, (India, Asean & China) added India would make significant<br />
investments over <strong>the</strong> next several decades to build its infrastructure and support higher levels of<br />
urbanization.
“This facility, our fourth manufacturing operation in India, positions us to meet industry growth and<br />
enables us to better serve our customers with <strong>the</strong> broadest range of products in <strong>the</strong> industry,” he said.<br />
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Encyclopedia Britannica bullish on India plans<br />
After deciding to end <strong>the</strong> publication of its 32-volume printed encyclopedia, Chicago-based Encyclopedia<br />
Britannica says it would launch more online learning and knowledge products in India.<br />
The Indian market, in which Encyclopedia Britannica has been present for 12 years, accounted for about<br />
five per cent of <strong>the</strong> company’s global print sales, as <strong>the</strong> share of North <strong>American</strong> and European markets<br />
diminished. It has sold around 1,100 of each edition in <strong>the</strong> country over <strong>the</strong> past 30 months.<br />
However, Leah Mansoor, senior vice-president (international business), in an email interaction with<br />
Business Standard, said <strong>the</strong> decision to close <strong>the</strong> print <strong>version</strong> was unlikely to have an impact on its<br />
financials operations, as print accounted for just one per cent of its global revenue. The company has a<br />
history of 244 years, with <strong>the</strong> first encyclopedia sold in 1768.<br />
It has big plans for <strong>the</strong> Indian market, given <strong>the</strong> importance given to education in <strong>the</strong> country, Mansoor<br />
said. “Our focus now is on <strong>the</strong> school market, for which we offer a series of electronic knowledge and<br />
instructional services. We recently launched <strong>the</strong> Indian <strong>version</strong> of our Britannica School Online service,<br />
which aligns to <strong>the</strong> curriculum in India and includes learning materials for both teachers and students.<br />
We are looking forward to adapting and launching some our instructional material in science and math,”<br />
Mansoor said.<br />
“This is an ongoing development process that would be aligned with <strong>the</strong> Indian market needs. Our<br />
consumer web strategy is global and India also takes part in it,” he added. Encyclopedia Britannica India<br />
saw double-digit growth in financial year 2010-11 and expects similar growth over <strong>the</strong> next two to three<br />
years, Mansoor said.<br />
“We launched our first curriculum books in math, social studies, science and general knowledge three<br />
years ago and our sales have grown dramatically ever since,” Mansoor said.<br />
Last year, Encyclopedia Britannica entered into a partnership with telecom player Airtel for providing<br />
free access to its volumes to broadband users. “We received some exposure, increased traffic to our<br />
web properties and, most importantly, we started to co-host <strong>here</strong> in India in order to improve <strong>the</strong><br />
quality of our online services,” Mansoor added.<br />
Encyclopedia Britannica India has two primary divisions — consumer and institutional. The consumer<br />
division handles <strong>the</strong> sales of books, CDs and online subscriptions to consumers and trade as well as<br />
handling B2B relationship with original equipment manufacturers and co-publishers.<br />
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Dunkin' Donuts to introduce savory products at outlets in India<br />
Quick service Restaurant Company Dunkin' Brands will localize its menu in India to have savory products,<br />
John Costello, Dunkin Brands' chief global marketing and innovation officer, says. In China, for instance,<br />
Dunkin' Donuts not only retails chocolate-flavored doughnuts but also rice-based doughnuts called<br />
Mochi rings and milk tea. In Singapore, it offers Kaya (coconut-based) doughnuts.<br />
The <strong>American</strong> firm which has a presence through its 462 Baskin-Robbins outlets in India will open its first<br />
Dunkin' Donuts store in New Delhi in <strong>the</strong> first half of 2012. It is betting on NBA player Lebron James to<br />
promote both brands in India, besides China, Taiwan and South Korea. Costello says India's economy
and growing middle class presented a significant opportunity for <strong>the</strong> $8.4-billion company to partner<br />
Jubilant Foodworks and <strong>the</strong> Indian firm's success with Domino’s Pizza added to it. It plans to have 500<br />
Dunkin' Donuts outlets in India over 15 years.<br />
"This is our largest national store commitment," Costello says. As part of <strong>the</strong> master franchise<br />
agreement, Dunkin' would provide brand, product and marketing expertise and Jubilant Foodworks<br />
would build, own and operate <strong>the</strong> stores in India. Dunkin' Brands operates 16, 800 outlets globally. <strong>Of</strong><br />
this, <strong>the</strong> Asia-Pacific region accounts for over 5, 400 outlets, driven by brand Baskin Robbins. Costello<br />
says <strong>the</strong> company intends to expand store count to 7, 000 in <strong>the</strong> region by 2015.<br />
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Lockheed Martin bags deal to supply laser-guided bombs to IAF<br />
US defence major Lockheed Martin has bagged a deal expected to be worth over Rs. 100 crore for<br />
supplying laser-guided bombs (LGBs) for <strong>the</strong> Jaguar fighter aircraft fleet in <strong>the</strong> Indian Air Force (IAF). The<br />
IAF plans to induct more than 100 bunker-buster LGBs for its Jaguar warplanes to destroy strongly<br />
fortified enemy targets.<br />
"We have emerged as <strong>the</strong> lowest bidders in <strong>the</strong> deal for supplying LGBs to <strong>the</strong> IAF. We have offered our<br />
Paveway II LGBs for <strong>the</strong> Jaguars and contract negotiations are on in this direction," Lockheed Martin<br />
India head Roger Rose told. The IAF had issued a global Request for Proposal (RFP) for <strong>the</strong> purpose last<br />
year, and Lockheed Martin along with Ray<strong>the</strong>on and an Israeli missile manufacturer had taken part in<br />
<strong>the</strong> tender.<br />
With <strong>the</strong>ir capability to pierce hard surfaces, <strong>the</strong> LGBs can also be used to destroy enemy's concrete<br />
runways and fortified locations. LGBs are guided projectiles that use lasers to strike a designated target<br />
with greater accuracy than a gravity bomb and were used with high accuracy by <strong>the</strong> IAF against Pakistani<br />
Army posts during <strong>the</strong> Kargil war in 1999.<br />
Around <strong>the</strong> same time, <strong>the</strong> US had supplied some Paveway bombs to India which could be launched<br />
from <strong>the</strong> Jaguar and Mirage 2000 planes for accurately striking enemy targets. The earlier lot of <strong>the</strong><br />
<strong>American</strong> bombs to <strong>the</strong> IAF was supplied by Ray<strong>the</strong>on.<br />
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HDFC Bank partners with San Francisco based Wells Fargo for US-India remittance<br />
service<br />
HDFC Bank said it had partnered Wells Fargo for remittance services between America and India. This<br />
would allow Indians residing <strong>the</strong>re to remit money to <strong>the</strong>ir beneficiaries’ HDFC Bank savings accounts in<br />
India. Wells Fargo has 6,000 branches in <strong>the</strong> US, while HDFC has 2,544 branches in India.<br />
“While we are a major player in <strong>the</strong> Gulf-India remittance market, this alliance will help us consolidate in<br />
<strong>the</strong> US-India sector, which has been growing exponentially. Given our reach and <strong>the</strong> web-based nature<br />
of <strong>the</strong> service, this will allow people to send money back home in one of <strong>the</strong> safest and fastest possible<br />
ways,” said Harish Engineer, executive director at HDFC Bank. Wells Fargo has a similar partnership with<br />
ICICI Bank in India.<br />
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IBM, Ingersoll Rand to offer energy efficient solutions in India<br />
IBM and Ingersoll Rand announced that <strong>the</strong>y will provide remote energy and asset management<br />
solutions in India to drive greater energy efficiencies for organizations engaged in infrastructure creation<br />
or maintenance for high-growth sectors (commercial, hospitality, health, pharma and o<strong>the</strong>rs). This
solution leverages IBM’s Intelligent Building Management (IIBM) system (a combination of monitoring,<br />
asset management and advanced analytics) along with Ingersoll Rand’s Energy optimization<br />
technologies, to help trigger preventive and predictive maintenance to create smarter buildings,<br />
according to an IBM statement.<br />
Buildings in India account for 30 per cent of energy consumption. <strong>Of</strong> this consumption, <strong>the</strong> major usage<br />
is due to HVAC (heating, ventilating and air-conditioning) and lighting. As <strong>the</strong> Indian economy develops<br />
and commercial infrastructure gets built, it becomes essential to drive robust initiatives to improve<br />
energy efficiency and sustainability. In <strong>the</strong> current economic scenario, with rising energy costs,<br />
organizations are facing capital and operating budget challenges. Maximizing capital productivity<br />
requires increasing asset utilization, efficiency and uptime. Similarly, <strong>the</strong> operating costs of energy and<br />
maintenance need to be optimized, IBM said.<br />
Mr. Venkatesh Valluri, Chairman & President, Ingersoll Rand India said, “Ingersoll Rand has been at <strong>the</strong><br />
forefront of driving ‘Innovation and Technology Convergence’ and to us this means bringing toge<strong>the</strong>r<br />
organizations and technologies on a common platform and converging <strong>the</strong>m to drive profitable<br />
sustainability practices. This partnership is a strategic initiative w<strong>here</strong> IBM and Ingersoll Rand are<br />
combining <strong>the</strong>ir strengths in operations and management systems to bring end-to-end managed<br />
services to customers.” “This partnership with Ingersoll Rand reaffirms our commitment by using<br />
intelligent data to build smarter buildings that are accountable for energy and carbon resource use,<br />
helping create a sustainable environment,” said Mr. Nipun Mehrotra, Vice-President & General<br />
Manager, Sales & Business Development, IBM India/South Asia.<br />
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Microsoft partners Morpheus, Accel to help startups in India<br />
Software giant Microsoft has partnered with Morpheus and Accel in <strong>the</strong> country to provide support and<br />
services to startup companies, helping <strong>the</strong>m grow <strong>the</strong>ir business.<br />
BizSpark Plus, an extension of <strong>the</strong> earlier BizSpark program, works through incubators and accelerators<br />
to provide value added products and services to high potential startups.<br />
Morpheus and Accel have been appointed accelerators in India, and working through <strong>the</strong>m, <strong>the</strong> program<br />
will offer each of <strong>the</strong>ir startups up to USD 60,000 of Windows Azure services over a 24-month period to<br />
help develop <strong>the</strong>ir ideas and solutions.<br />
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Indian drug companies, hit US jackpot in December quarter<br />
Five of India’s top 10 pharma firms collectively raked in <strong>the</strong>ir best quarterly revenues in <strong>the</strong> US in<br />
October-December. During this period, total US earnings of Ranbaxy Labs, Dr. Reddy’s, Sun Pharma,<br />
Lupin and Zydus Cadila almost touched Rs. 5,000 crore. This is 80% of what Ranbaxy, Dr. Reddy’s, Lupin<br />
and Cadila cumulatively earn from <strong>the</strong>ir domestic business every year.<br />
Excluding Lupin, which operates in both patented and generic drugs business in <strong>the</strong> US, combined<br />
quarterly earnings of <strong>the</strong> four firms, grew 112% during <strong>the</strong> quarter on an annual basis. The timing, when<br />
several blockbuster drugs with market size over $1billion were losing patent protection, proved<br />
fortunate for many of <strong>the</strong>se firms. The surge in US business comes at a time when many of <strong>the</strong>se<br />
companies feel “irrational” price controls and emerging patent regime are undermining <strong>the</strong>ir growth<br />
potential within <strong>the</strong> country.
However, unlike 5-6 years ago, companies are no longer content with timely US launch of generic drugs.<br />
All of <strong>the</strong>m are innovating on <strong>the</strong>ir offerings, creating Plan B to milk <strong>the</strong> exclusive marketing window to<br />
<strong>the</strong> fullest, fine-tuning marketing and pricing strategies as <strong>the</strong>y go.<br />
Dr. Reddy’s posted its best quarterly revenue and profit in <strong>the</strong> quarter, leveraging a tie-up with Israeli<br />
generic drug rival Teva. Dr. Reddy’s, which managed a 180-day period of marketing exclusivity<br />
opportunity for <strong>the</strong> largest-selling strength of generic blockbuster Zyprexa, an anti-psychotic drug,<br />
partnered rival Teva for distribution. Annual US sales of Zyprexa are around $3.2 billion, of which <strong>the</strong><br />
largest selling strength is over $900 million. In a little over two months, Dr. Reddy’s has already clocked<br />
$100 million from this generic opportunity, cornering 60% market share. Top management attributed<br />
‘better-than expected revenues’ on this account to <strong>the</strong>ir tie-up with Teva.<br />
Similarly, for its US Lipitor generic launch, Ranbaxy pursued multiple options. The company tackled<br />
regulatory challenges, shifted manufacturing location to US and signed an undisclosed pact with Teva.<br />
Pfizer, which owned Lipitor, meanwhile sought to guard its market share with discounts on <strong>the</strong> original<br />
brand and tie-ups with pharmacies to create loyalty pools. Ranbaxy responded with deeper discounts of<br />
60-70% on its drugs, against <strong>the</strong> normal 40-50% offered during <strong>the</strong> six-month exclusive marketing<br />
period.<br />
“The quarter is undoubtedly <strong>the</strong> best in revenue terms for <strong>the</strong>se Indian pharma firms. These are, of<br />
course, fruits of filings <strong>the</strong>se companies did in early 2000s,” said Hemant Bakhru of brokerage firm CLSA.<br />
“But <strong>here</strong> on, <strong>the</strong> number of filings will dwindle and value per molecule will shrink,” he said.<br />
“The creative maneuvering of Indian biggies reflects <strong>the</strong>ir maturity and confidence in <strong>the</strong> US market,<br />
which <strong>the</strong>y have acquired after a decade of experience <strong>the</strong>re. Many big firms are now shifting US<br />
strategies from chasing big best-selling molecules of $1-billion sales to complex mid-sized molecules of<br />
sales in <strong>the</strong> range of $300-500 million which are difficult to manufacture and consequently, have limited<br />
competition,” said Murali Nair, partner, Ernst & Young.<br />
Lupin, Dr. Reddy’s and Sun Pharma are moving in that direction. Nair said Indian firms are also venturing<br />
into ‘supergenerics’ in <strong>the</strong> US, which implies that instead of cloning <strong>the</strong> exact composition of <strong>the</strong><br />
patented drug, <strong>the</strong>y tweak it to offer a different formulation or a new form of delivery, adding value to<br />
existing products in <strong>the</strong> market. This differentiation assumes critical relevance in <strong>the</strong> face of intense<br />
competition resulting in wafer-thin margins, which in many recent cases end up lower in US than in<br />
Indian market for <strong>the</strong> same drug.<br />
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Walmart to expand its India R&D centre<br />
Walmart, <strong>the</strong> world's largest retailer, said it would have 200 research and development (R & D)<br />
engineers at <strong>the</strong> @WalmartLabs centre in Bangalore. In November last year, <strong>the</strong> company had<br />
announced plans to set up an R & D centre in Bangalore, responsible for creating <strong>the</strong> next generation<br />
products and platforms for Walmart's e-Commerce business globally.<br />
The company has since <strong>the</strong>n build a team of about 20 people in Bangalore. It aims to add ano<strong>the</strong>r 180<br />
people by <strong>the</strong> end of 2012, according to senior officials of <strong>the</strong> company. They also said resources located<br />
in Bangalore would work in core R & D works, including new platform developments, analytics, big data<br />
and system integration. This is in line with <strong>the</strong> company's strategy to provide <strong>the</strong> customers ‘anytime,<br />
anyw<strong>here</strong>' access to its products through mobile devices, internet or at physical stores.<br />
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Air India board OKs $195 million bridge loan for Dreamliner buy<br />
State-run Air India's board on Tuesday approved a $195 million bridge loan for financing its purchase of<br />
two Boeing (BA.N) 787 Dreamliner aircraft, as <strong>the</strong> carrier takes its first steps towards a controversial<br />
aircraft buy programme.<br />
The bridge financing, led by Standard Chartered Bank's (STAN.L) India unit, is expected to be closed<br />
soon; Air India said in a statement. The carrier will push ahead with its purchase of 27 Dreamliner<br />
aircraft, aviation minister Ajit Singh said last week, despite its heavy debt burden and a long-running<br />
dispute with Boeing.<br />
Cash-strapped Air India, which owes about $500 million to oil companies and $240 million to airports, is<br />
currently negotiating for nearly $1 billion as compensation from Boeing for <strong>the</strong> delayed delivery. Air<br />
India's board also approved <strong>the</strong> direct import of jet fuel and hedging of fuel, <strong>the</strong> statement said.<br />
India last month approved direct import of jet fuel in a move to help reduce costs in <strong>the</strong> sector w<strong>here</strong><br />
five of <strong>the</strong> top six carriers are in <strong>the</strong> red.<br />
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GM India to source components worth $1 b from domestic suppliers<br />
General Motors India Pvt. Ltd will source components worth $1 billion (Rs. 5,000 crore) for its overseas<br />
operations in <strong>the</strong> next two years from <strong>the</strong> chain of Indian suppliers it has developed, but it is yet to<br />
synergize with competitors to save costs, even as Ford India favors synergy with Peugeot.<br />
GM India currently has 722 local suppliers whom it has awarded contracts worth nearly $500 million (Rs.<br />
2,500 crore). They include 200 suppliers who supply for <strong>the</strong> company’s Indian as well as global<br />
operations, Mr. P. Balendran, Director and Vice-President, Corporate Affairs, GM India, told Business<br />
Line <strong>here</strong> on Friday. They are categorized as tier-one, two and three suppliers, who manufacture parts<br />
and spares as per GM’s specifications.<br />
About GM India’s plans for light commercial vehicles (LCVs), he said <strong>the</strong>se would be manufactured at <strong>the</strong><br />
Halol plant in Gujarat. Multi-utility vehicles (MUVs) and LCVs capable of carrying up to two tons of cargo<br />
would be launched by December 2012.<br />
Asked whe<strong>the</strong>r GM and Peugeot would synergize <strong>the</strong>ir activities in India, Mr. Balendran said <strong>the</strong>ir global<br />
alliance will have a long-term positive effect on GM worldwide, particularly in Europe. “However, it is<br />
too soon to say how it will impact India and <strong>the</strong> Asia-Pacific region,” he said. So far, nei<strong>the</strong>r in India nor<br />
anyw<strong>here</strong> else has <strong>the</strong> two majors synergized to share suppliers or facilities.<br />
In February, GM had announced to pick up a 7 per cent stake in PSA Peugeot Citroen in a global alliance<br />
targeting cuts worth about $2 billion in annual costs as <strong>the</strong>y would share vehicle platforms, components<br />
and modules. Also, <strong>the</strong>y would have a global purchasing joint venture for <strong>the</strong> sourcing of commodities,<br />
components, goods and services with combined annual purchasing volumes of about $125 billion,<br />
pooling of R&D for products <strong>the</strong>y would market and sell separately.<br />
Ford India Managing Director and CEO, Mr. Michael Boneham, had said his company could look into<br />
such a synergy with Peugeot India, its neighbor at Sanand in Gujarat.<br />
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MindTree to Open U.S. Software Center<br />
Indian outsourcing company MindTree Ltd. Tuesday said it will open its first major software<br />
development center in <strong>the</strong> U.S., w<strong>here</strong> it will hire 400 local employees, beginning August. It didn't give<br />
any financial details of <strong>the</strong> investment in <strong>the</strong> new center.<br />
The center in Gainesville, Florida, will give MindTree's clients access to engineering talent in <strong>the</strong><br />
sou<strong>the</strong>ast, <strong>the</strong> Bangalore-based company said in a statement. MindTree said it will renovate an existing<br />
structure at Gainesville to set up <strong>the</strong> center, which will provide <strong>the</strong> company access to university<br />
graduates.<br />
MindTree's move comes at a time when Indian outsourcing companies are seeing a rise in <strong>the</strong> rejection<br />
rate of U.S. visa applications, which is affecting <strong>the</strong>ir business and resource planning. India's outsourcing<br />
companies send thousands of employees abroad to work at client locations, and are facing allegations in<br />
<strong>the</strong> U.S. of taking away local jobs amid high unemployment.<br />
The U.S. last year imposed a large fee on visas for skilled workers like software professionals. It is also<br />
investigating a case of alleged abuse of a temporary-visa program by Infosys Ltd. INFY +0.41% The Indian<br />
Company has denied any wrongdoing. Most software companies are ramping up local hiring in a bid to<br />
overcome <strong>the</strong> stiff visa regulations.<br />
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Glenmark gets USFDA nod for contraceptive, scalp gel<br />
Glenmark Pharmaceuticals today said it has received approval from US health regulator to market a<br />
generic oral contraceptive and a gel for treating skin inflammation in <strong>the</strong> <strong>American</strong> market. Glenmark<br />
Generics Inc., subsidiary of Glenmark Generics has been granted final approval for two abbreviated new<br />
drug approvals (ANDA's) from <strong>the</strong> United States Food and Drug Administration (USFDA), Glenmark said<br />
in a statement.<br />
The approvals are for Ciclopirox Gel 0.77% and Levonorgestrel & Ethinyl Estradiol tablets USP, 0.15<br />
mg/0.03 mg, it added."Glenmark will market <strong>the</strong> approved oral contraceptive as Marlissa tablets and<br />
plans to commence shipping both products immediately," <strong>the</strong> company said. Marlissa is a generic<br />
<strong>version</strong> of Duramed Pharmaceuticals Nordette tablets. Ciclopirox is <strong>the</strong> generic <strong>version</strong> of Medicis<br />
Pharmaceutical Corporation's Loprox Gel and is available in 30, 45, and 100 gram tubes.<br />
"The gel is indicated for <strong>the</strong> topical treatment of seborrheic dermatitis of <strong>the</strong> scalp and according to IMS<br />
Health sales data for <strong>the</strong> 12 month period ending September 2011, Ciclopirox Gel garnered annual sales<br />
of greater than $10 million," Glenmark said.<br />
According to IMS Health, for <strong>the</strong> 12 month period ending September 2011 total market sales achieved<br />
for Levonorgestrel and Ethinyl Estradiol tablets USP, 0.15 mg/0.03 mg were nearly $50.84 million. The<br />
company's current portfolio consists of 76 products authorized for distribution in <strong>the</strong> US market, it said.<br />
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DuPont sets up ballistics unit in Hyderabad<br />
Designing bullet-proof helmets and vests and stab-proof wear suited for local needs could be easier in<br />
India. DuPont, <strong>the</strong> US-based science and engineering-based product firm, has opened a ballistics facility<br />
at DuPont Knowledge Centre near <strong>here</strong>.<br />
Using equipment <strong>here</strong>, one can calculate velocity of a bullet and with what it impact is hitting a helmet<br />
or a vest. Details of <strong>the</strong> impact of <strong>the</strong> bullet or a stab, called trauma, captured in <strong>the</strong> computer systems
could hold <strong>the</strong> key in developing robust protective gear for law-enforcement agencies. Besides testing<br />
impact of a ballistic attack in a testing range, <strong>the</strong> facility could design a helmet using a 600-tonne helmet<br />
press.<br />
T<strong>here</strong> is a stab-testing machine too. “Riot police who mingle with people would require a knife-proof<br />
vest. We develop this by putting several layers of DuPont's proprietary product Kelvar to test. We will<br />
drop a sharp object with measurable force and see <strong>the</strong> impact,” a DuPont executive said at a<br />
demonstration.<br />
Mr. Rajeev Vaidya, President (South Asia) of DuPont, said this facility was <strong>the</strong> first for <strong>the</strong> firm in Asia-<br />
Pacific region and third outside <strong>the</strong> United States. The $38-billion US firm with over 70,000 employees<br />
globally has 4,000 staff in Hyderabad and Pune.<br />
“These facilities also have capabilities to upgrade and test performance of armors for a higher threat<br />
level. It also has facilities to test <strong>the</strong> products against local and international standards for ballistics and<br />
stab resistance. “This facility would reduce time for manufacturers in developing solutions for law<br />
enforcement agencies and military.<br />
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Merrill Corporation Adds Legal Process Outsourcing Services in India<br />
Merrill Corporation a leading global provider of technology-enabled services for <strong>the</strong> financial, legal,<br />
health care, real estate and o<strong>the</strong>r corporate markets, has announced <strong>the</strong> opening of a Legal Process<br />
Outsourcing (“LPO”) center in Chennai, India. Merrill’s LPO services team performs critical but routine<br />
legal procedures at reduced costs.<br />
Merrill’s LPO services include Managed Document Review, Contracts Management and Corporate Due<br />
Diligence Services. The LPO team is headquartered at Merrill’s existing operations base in Chennai, with<br />
a satellite location in Coimbatore, India. Merrill’s multi-disciplinary team in Chennai recently celebrated<br />
five years of service and remains a vital contributor to Merrill’s global operations infrastructure.<br />
Merrill’s LPO services offer corporate and law firm clients a scalable, comprehensive support platform<br />
complemented by predictable and cost-effective pricing such as an all-in one price per document. The<br />
LPO team leverages a blend of experienced attorneys, technologists and engineers to optimize a talent<br />
and technologies supply chain to match <strong>the</strong> needs of each project. The LPO team also integrates its<br />
services with projects managed in <strong>the</strong> United States to maximize cost benefits through a hybrid<br />
approach to legal service projects.<br />
Mark Chardack, Senior Vice President of eDiscovery Operations said, “LPO now provides a full range of<br />
global solutions to address <strong>the</strong> complexities of <strong>the</strong> legal services supply chain. Merrill is forward-thinking<br />
in designing solution sets that yield <strong>the</strong> greatest efficiencies and that allow our corporate and law firm<br />
clients to minimize legal and business risks while driving down costs.” Merrill’s facility in India is ISO<br />
27001 certified, which ensures ad<strong>here</strong>nce to <strong>the</strong> protection and confidentiality of data and is<br />
incorporated into Merrill’s robust quality assurance program.<br />
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Dell India eyes 16,000 SMEs in state<br />
Leading laptop seller Dell India has said it is planning to invest in <strong>the</strong> IT solution sector in <strong>the</strong> major cities<br />
of <strong>the</strong> state, which currently generate $14 million business every year in terms of IT expenditure.The<br />
company has been targeting small and medium business firms in second and third tier cities since last<br />
year, especially in western and sou<strong>the</strong>rn part of <strong>the</strong> country. It now wants to expand its business to
Orissa, anchoring on opportunities available in urban centres like twin cities of Cuttack and<br />
Bhubaneswar, a company official said.<br />
“According to our estimate, Bhubaneswar and Cuttack have at least 16,000 small and medium business<br />
(SMB) houses and can use our enterprise solution services. We will target <strong>the</strong> large base of<br />
manufacturing, banking and construction firms <strong>here</strong>,” said Rekuram Varadharaj, marketing manager for<br />
medium business of Dell India said.<br />
The company will provide <strong>the</strong> storage, server and networking needs of <strong>the</strong> SMBs, along with cloud<br />
computing services, in association with its partners such as Microsoft and SAP. And to convince <strong>the</strong><br />
business houses in <strong>the</strong> state, Dell India has plans to take <strong>the</strong> assistance of <strong>the</strong> local chambers of<br />
commerce.<br />
“We have plans to discuss with <strong>the</strong> officials of Utkal <strong>Chamber</strong>s of Commerce and Industry (UCCI)<br />
officials, who will encourage SMBs in <strong>the</strong> state to opt for enterprise-focused IT services. With our ability<br />
to translate technology to actual business needs amid affordable prices, we can be true partner in <strong>the</strong>ir<br />
business growth,” Varadharaj said.<br />
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Walmart to sell Hero bicycles worldwide<br />
Breaking <strong>the</strong> near monopoly of Chinese bicycle manufacturers, <strong>the</strong> Pankaj Munjal-promoted Hero Cycles<br />
has clinched an agreement with Walmart, <strong>the</strong> world's largest retailer, to supply bicycles across <strong>the</strong><br />
world. It will supply bicycles priced at $200 (roughly Rs. 10,000) apiece.<br />
Pankaj Munjal, managing director, Hero Cycles, said, “In bicycles, we intend to double our sales to 10<br />
million units annually by 2015. For that, we are exploring new geographies. We are approved with<br />
Walmart and can leverage <strong>the</strong>ir network to expand overseas.”<br />
The US retail major sources virtually all its bicycles from manufacturing units in China and Hero Cycles<br />
would be <strong>the</strong> first Indian supplier. Walmart, <strong>the</strong> largest seller of bicycles in <strong>the</strong> US, used to source a large<br />
part of its bicycles from Huffy’s plant in Ohio in <strong>the</strong> 1990s. But, increased pressure from Walmart to cut<br />
costs forced Huffy to close its plants in <strong>the</strong> US and rely increasingly on factories in China to keep<br />
production competitive. That led to Walmart's reliance on China's low-cost producers.<br />
India's attractiveness, Hero Cycles executives say, is that manufacturing costs are cheaper than in China<br />
currently, with Chinese labour costs having risen in recent years.<br />
Pravin Patil, president, Urban Trail, Hero Cycles, said, “China is cost-competitive. But, manufacturing<br />
expenses in India are lower. W<strong>here</strong> China scores over us is in government subsidies. If you factor that,<br />
our costs are on a par and so is our quality.” The Chinese government offers 14 per cent subsidy and<br />
pays for inland freight on exported bicycles. In India, a duty draw-back of nine per cent or Rs 298 apiece<br />
is given to bicycle exporters, whichever is lower.<br />
Hero Cycles has commenced supplies to Walmart cash-and-carry stores in India, and is in advanced talks<br />
to firm up <strong>the</strong> product line for retail operations globally. “We plan to sell premium bicycles from <strong>the</strong><br />
Urban Trail range globally,” said Patil. While <strong>the</strong> bicycles are being sold under <strong>the</strong> Hero brand in <strong>the</strong><br />
country, a call is yet to be taken on branding <strong>the</strong> products for international sale. Walmart has 10,130<br />
retail outlets in 27 countries.<br />
It operates in India through a joint venture Bharti Walmart Pvt Ltd, which has 17 cash-and-carry outlets.
Hero Cycles supplies 10 models of Hero Trax priced below Rs 5,000 to Walmart's India stores. It rules <strong>the</strong><br />
domestic bicycle market, with standard Black cycles and <strong>the</strong> mid-range Trax cycles. It introduced<br />
premium products under <strong>the</strong> Urban Trail tag earlier this month. T<strong>here</strong> are 17 products priced Rs 10,000-<br />
43,000 in <strong>the</strong> Urban Trail range and <strong>the</strong> company plans to add 10 models over two months.<br />
To realise its foreign ambitions, Hero Cycles has set up an office in Denver, Colorado, and roped in<br />
former president of Schwinn Bicycles, Kevin Lamar, to drive growth in <strong>the</strong> US. That office will oversee<br />
<strong>the</strong> Walmart deal.<br />
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Sun Pharma gets US nod for schizophrenia drug<br />
Sun Pharmaceutical Industries has got an approval from US Food and Drug Administration for its<br />
abbreviated new drug application, Olanzapine orally disintegrating tablets.<br />
Sun Pharma stated in a filing with <strong>the</strong> Bombay Stock Exchange, that <strong>the</strong> tablets are <strong>the</strong>rapeutic<br />
equivalents of Eli Lilly's Zyprexa Zydis tablets. Olanzapine tablets have an annual sale of about $360<br />
million in <strong>the</strong> US, and are indicated in <strong>the</strong> treatment of schizophrenia and bipolar disorder.<br />
The latest approval follows <strong>the</strong> US health regulator's decision last week, to import Sun Pharma's anticancer<br />
drug Lipodox to meet <strong>the</strong> shortage of ano<strong>the</strong>r similar medicine Doxil.<br />
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Tata Motors ties up with US Company for lithium ion batteries<br />
Tata Motors has tied up with <strong>the</strong> US-based A123 for <strong>the</strong> supply of lithium ion battery packs for Tata<br />
Motors' hybrid commercial vehicles. A press release from A123 says that <strong>the</strong> company would deliver<br />
complete systems that include robust battery management electronics, and <strong>the</strong> compact form factor of<br />
<strong>the</strong> prismatic cells enables A123 to design “highly-scalable battery packs that are intended to seamlessly<br />
configure to Tata's hybrid electric powertrain architecture”.<br />
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Microsoft to expand presence in smaller cities<br />
Microsoft is keen on investing in India to provide cloud-based solutions to Small and Medium Businesses<br />
(SMBs). The company sees an addressable market of over 45 million SMBs in India today, majority of<br />
<strong>the</strong>m being micro businesses with less than five PCs and employees.<br />
The company is planning to increase <strong>the</strong> number of its business partners <strong>here</strong>, expand its geographical<br />
presence in Tier2/Tier 3 cities, and also host a range of seminars and road shows to showcase its<br />
products to prospective customers.<br />
“T<strong>here</strong> is a different kind of approach that is needed in India,” Mr. Vahé Torossian, corporate vicepresident,<br />
Worldwide Small and Midmarket Solutions & Partners Group, Microsoft told. Considering<br />
that SMBs typically don't have expertise in IT, Mr. Torossian said that <strong>the</strong>y ask for products that are easy<br />
to use. “T<strong>here</strong> is also a need to have proximity and it is a key investment we are doing,” he said.<br />
For about a year now, Microsoft has been providing solutions like <strong>the</strong> <strong>Of</strong>fice 365 which helps SMBs<br />
integrate work done by different employees or from different locations, thus reducing cost.<br />
Product Localization:<br />
All <strong>the</strong> solutions are global products that are being localised by <strong>the</strong> company's partners in<br />
India.Microsoft has 18,000 partners in India today which includes companies like Microland and<br />
Futuresoft, of which about 20 per cent are into redesigning <strong>the</strong> solutions for <strong>the</strong> local market.
Microsoft plans to add ano<strong>the</strong>r 5,000 partners and take <strong>the</strong> chunk of solution partners to about 40 per<br />
cent. Mr. Torossian also said that <strong>the</strong> company will be fast-tracking <strong>the</strong> localisation of <strong>the</strong>ir products.To<br />
suit Indian customers, <strong>the</strong> company has changed <strong>the</strong> method of certification of partners and are moving<br />
from US dollar billing to India rupee, Mr Torossian said. “We also now help customers see if <strong>the</strong>y are<br />
using <strong>the</strong> right software for <strong>the</strong>ir kind of business,” he added.<br />
According to him, <strong>the</strong> SMB market is amongst <strong>the</strong> biggest contributors to <strong>the</strong> Indian economy,<br />
contributing about 60 per cent of <strong>the</strong> GDP and creating a million jobs a year.<br />
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Essar Shipping bags $121 million offshore drilling deal from ConocoPhillips<br />
Essar Shipping Ltd. has won a $121-million contract to drill offshore wells in <strong>Indo</strong>nesia. It will drill 11<br />
offshore wells for <strong>the</strong> US-based ConocoPhillips. “We won among <strong>the</strong> deal a field of strong competitors<br />
such as Transocean and Maersk Drilling,” said Mr. A.R. Ramakrishnan, Managing Director, Essar<br />
Shipping.<br />
Essar Shipping's semi-submersible offshore drilling unit, Essar Wildcat, was mobilised for <strong>the</strong> contract<br />
and is now deployed with ConocoPhillips.<br />
This company is one of <strong>the</strong> largest US integrated energy companies with assets of $160 billion.<br />
ConocoPhillips has been present in <strong>Indo</strong>nesia for over 40 years, operating seven production-sharing<br />
contracts comprising 19,348 sq. miles.<br />
Essar Wildcat has earlier drilled for Gujarat State Petroleum Corporation Ltd off <strong>the</strong> east coast of India in<br />
<strong>the</strong> Krishna-Godavari basin. T<strong>here</strong>after, <strong>the</strong> rig has been working with Vietsovpetro (a joint venture<br />
between PetroVietnam and Russia's Zarubezhneft) offshore Vietnam for <strong>the</strong> past year.<br />
“Going forward, we are well positioned to be a respected global player in <strong>the</strong> oilfield services industry<br />
with an asset base of approximately $1 billion,” he said. The oilfields services business provides contract<br />
drilling services to oil and gas companies across <strong>the</strong> globe. This business owns one semi-submersible rig<br />
and 12 land rigs.<br />
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HDFC, Pramerica lead race for Fidelity India mutual fund<br />
India’s largest fund house, HDFC Asset Management Co. Ltd, and Pramerica Asset Managers Pvt. Ltd, an<br />
arm of US-headquartered Prudential Financial Inc, have emerged as <strong>the</strong> frontrunners to buy <strong>the</strong> assets<br />
of Fidelity’s mutual fund in India—FIL Fund Management Pvt. Ltd.<br />
Out of some 20 bidders, HDFC and Pramerica mutual funds have been shortlisted and <strong>the</strong>ir bids are in<br />
<strong>the</strong> range of Rs.400-500 crore, said two people with direct knowledge of <strong>the</strong> deal, who spoke on<br />
condition of anonymity.“T<strong>here</strong> is close competition between <strong>the</strong> two funds and one of <strong>the</strong>m will enter<br />
<strong>the</strong> binding bid agreement with Fidelity,” said one of <strong>the</strong> two people. Fidelity MF has about Rs.9, 000<br />
crore of assets under management.<br />
HDFC mutual fund manages Rs.88, 628.02 crore worth of assets. Pramerica mutual fund manages assets<br />
of Rs.2, 084.41 crore in India, mostly through debt-oriented schemes. JPMorgan, Fidelity’s financial<br />
adviser for <strong>the</strong> deal, had circulated <strong>the</strong> so-called request for proposal to accept bids from prospective<br />
buyers till 15 February. HDFC and Pramerica are among <strong>the</strong> top five asset management companies<br />
(AMCs) that have qualified for <strong>the</strong> second round of bidding to acquire <strong>the</strong> assets of Fidelity MF in India,<br />
but <strong>the</strong>ir bids are higher than o<strong>the</strong>rs.
Milind Barve, managing director of HDFC mutual fund, declined to comment. Emails sent to Fidelity did<br />
not elicit a response. Lisa Villareal, vice-president, Prudential Financial, declined to comment.<br />
HDFC and Pramerica’s bids value Fidelity MF at 4-5% of its average assets, a sizable amount in light of<br />
<strong>the</strong> AMC’s cumulative losses of Rs. 333 crore. In 2011, its losses more than doubled to Rs.62.39 crore<br />
over <strong>the</strong> previous year.<br />
An interesting income-tax provision plays a key role behind <strong>the</strong> ongoing Fidelity deal, said <strong>the</strong> first<br />
person cited earlier. In normal course, under section 72 of <strong>the</strong> Income-Tax Act, a mutual fund is allowed<br />
to carry forward its losses for eight years. But, under section 79 of <strong>the</strong> law, this loss is not allowed to be<br />
carried forward if <strong>the</strong>re is a change in ownership of <strong>the</strong> company. Fidelity MF’s cumulative losses are <strong>the</strong><br />
highest in <strong>the</strong> domestic fund industry. If a fund house directly buys <strong>the</strong> assets of Fidelity MF in India,<br />
section 79 of <strong>the</strong> income-tax law will be triggered and <strong>the</strong> buyer will have to bear <strong>the</strong> losses of Fidelity<br />
MF at one go. This can be avoided through ano<strong>the</strong>r clause of section 79, which allows losses to be<br />
carried forward, post <strong>the</strong> deal, only if <strong>the</strong> Indian company is a subsidiary of a foreign company and <strong>the</strong><br />
change in ownership arises as a result of amalgamation or demerger of <strong>the</strong> foreign company.<br />
Fidelity MF in India is a subsidiary of Fidelity Mauritius, which in turn is a subsidiary of Fidelity<br />
Worldwide Investment, or FIL Ltd, that manages at least $212 billion. If a bidder buys Fidelity Mauritius<br />
and reverse merges <strong>the</strong> company with Fidelity MF in India, it will be able to carry forward <strong>the</strong> losses of<br />
Fidelity MF as <strong>the</strong>re will not be any direct change in ownership of Fidelity MF in India.<br />
If indeed this happens, <strong>the</strong> acquirer will not only be able to carry forward <strong>the</strong> losses of Fidelity MF for<br />
eight years but also save on taxes till such time its profit gets offset by past losses. “For this reason, <strong>the</strong><br />
bidders are willing to pay a little more than average valuations for an acquisition,” one of <strong>the</strong> people<br />
said.For <strong>the</strong> fiscal year ended 31 March 2011, HDFC MF recorded a net profit of Rs.242 crore, <strong>the</strong><br />
highest in <strong>the</strong> industry after Reliance Capital Asset Management Ltd with a profit of Rs.261 crore.<br />
Fund house acquisitions are valued on <strong>the</strong> basis of <strong>the</strong> asset mix, network strength, long-term earnings<br />
prospects and profitability. Apart from <strong>the</strong> tax advantage, ano<strong>the</strong>r positive for Fidelity MF is its high<br />
proportion of equity assets. Typically, equity funds fetch higher valuation as <strong>the</strong>y earn more fees and<br />
commissions than debt schemes.<br />
Directly buying a loss-making fund house has two major disadvantages. One, since <strong>the</strong> losses of <strong>the</strong><br />
seller cannot be carried forward; it immediately brings down <strong>the</strong> net worth of <strong>the</strong> buyer by an amount<br />
equal to <strong>the</strong> total accumulated loss of <strong>the</strong> seller. Two, if <strong>the</strong> net worth of <strong>the</strong> combined entity turns<br />
negative after <strong>the</strong> acquisition, <strong>the</strong> fund house can nei<strong>the</strong>r avoid paying taxes on its profits in <strong>the</strong><br />
subsequent years nor pay dividends till <strong>the</strong> net worth turns positive. Even if <strong>the</strong> net worth of <strong>the</strong><br />
combined entity remains positive after <strong>the</strong> acquisition, it will be lower than <strong>the</strong> original net worth of <strong>the</strong><br />
buyer and taxes would still be deducted on its profits every year. T<strong>here</strong> have been several acquisitions of<br />
Indian mutual funds with valuations ranging from 1.6% to 13% of AUM. At <strong>the</strong> end of December; Fidelity<br />
managed assets worth at least Rs.6, 184.61 crore in equity schemes and Rs.2, 695.84 crore in debt<br />
schemes, according to Value Research, a New Delhi-based fund tracker.<br />
T<strong>here</strong> are 44 mutual funds in India with total assets worth Rs.6.81 trillion as of <strong>the</strong> quarter ended<br />
December.<br />
Recently, Reliance Capital Asset Management, <strong>the</strong> mutual fund arm of <strong>the</strong> Anil Ambani-controlled<br />
Reliance Group, announced a 26% stake sale to Japan’s Nippon Life Insurance Co. for Rs.1,450 crore. The<br />
transaction values India’s second largest fund house at Rs.5, 600 crore, or about 6% of its overall AUM.<br />
In 2009, Japanese money manager Nomura Asset Management Co. Ltd picked up a 35% stake in LIC<br />
Mutual Fund Asset Management for Rs.3, 080 crore, or 2.4% of <strong>the</strong> latter’s assets at <strong>the</strong> time. In <strong>the</strong>
same year, T Rowe Price Global Investment Services Ltd picked up a 26% stake in UTI Asset Management<br />
Co. Ltd for $142.4 million, valuing <strong>the</strong> latter at about 3.25% of its average AUM <strong>the</strong>n. In 2009, L&T<br />
Investment Management Ltd paid Rs.450 crore to buy out DBS Cholamandalam Asset Management—<br />
1.6% of <strong>the</strong> value of <strong>the</strong> latter’s assets. HDFC MF bought Zurich AMC in 2003.<br />
<strong>Of</strong> <strong>the</strong> 39 asset management companies that declared <strong>the</strong>ir earnings last year, 16 recorded a total profit<br />
of around Rs.1, 100 crore and 23 booked losses that added up to some Rs.550 crore.<br />
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M&M wins arbitration award, class action suit in US<br />
The International Arbitration Panel (IAP) has rejected claims of damages by Global Vehicles USA Inc. for<br />
alleged violation of distribution agreement by Mahindra & Mahindra, as <strong>the</strong> panel found no violation of<br />
state or federal rules by <strong>the</strong> global vehicle manufacturer.<br />
The sports-utility vehicle maker also won a class action suit filed by a group of dealers in <strong>the</strong> United<br />
States district court for <strong>the</strong> eastern district of Missouri against <strong>the</strong> company and its proposed US<br />
distributor, Global Vehicles.The arbitrators while rejecting <strong>the</strong> claims of Global Vehicles for damages<br />
have also awarded M&M <strong>the</strong> costs of arbitration, including legal fees and expenses, <strong>the</strong> company said in<br />
a filing with <strong>the</strong> Bombay Stock Exchange. The arbitrators held that <strong>the</strong> distribution agreement with<br />
Global Vehicles had terminated according to its own terms and M&M did not violate <strong>the</strong> agreement or<br />
any laws in <strong>the</strong> US in its dealings with Global Vehicles. The arbitrators, while rejecting <strong>the</strong> claims of<br />
Global Vehicles for damages, awarded to M&M costs of arbitration, including M&M's legal fee and<br />
expenses, <strong>the</strong> company said in its filings with <strong>the</strong> Bombay Stock Exchange.<br />
Rejecting <strong>the</strong> class action suit by a group of dealers against M&M, <strong>the</strong> arbitration panel said its dealings<br />
with potential dealers, Global Vehicles was not <strong>the</strong> agent of M&M and, <strong>the</strong>refore, it could not be liable<br />
for any actions of Global Vehicles.<br />
M&M did not quantify <strong>the</strong> value of claims made by <strong>the</strong> US Company or <strong>the</strong> cost of arbitration, including<br />
<strong>the</strong> legal fee and expenses that <strong>the</strong> panel awarded to M&M. Mahindra had, in 2010, announced plans to<br />
sell a compact 2.2 liter four-cylinder pick-up truck and a <strong>version</strong> of its Scorpio and a new SUV with a gaselectric<br />
hybrid option in <strong>the</strong> US. But <strong>the</strong> plans were held up after <strong>the</strong> Georgia-based dealer Global<br />
Vehicles moved <strong>the</strong> US district court in Atlanta in June accusing Mahindra of violating an agreement to<br />
make Global Vehicles its exclusive distributor in <strong>the</strong> US<br />
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Walmart looks to source more farm items from India<br />
The world's largest retailer Walmart is looking to source more farm produce from India for international<br />
operations through its Indian joint venture apart from expanding product basket.<br />
The company's 50:50 joint ventures with Bharti Enterprises -- Bharti Walmart Pvt Ltd is looking to<br />
engage 25,000 farmers in India by 2015 up from <strong>the</strong> present 4,000.<br />
"We are leveraging our association with ASDA Walmart UK and providing export market access to Indian<br />
farmers," said a Bharti Walmart spokesperson. ASDA Walmart is a chain of 500 stores that sell food,<br />
grocery and o<strong>the</strong>r essential items across UK. He said <strong>the</strong>re are opportunities to export a range of items<br />
from India like musk melon, pomegranate and rice.<br />
As a pilot, <strong>the</strong> company has started sourcing grapes from farmers in Maharashtra for supplying to ASDA<br />
Walmart. "Last year we had sent 80 containers and looking to double this year," he added.<br />
Commenting on <strong>the</strong> farmer engagement in India, <strong>the</strong> official said Bharti Walmart currently works with<br />
around 4,000 farmers in India in states like Punjab, UP, Delhi, Maharashtra and Karnataka. "Certainly we
would want this to be significantly higher as we expand. By 2015, <strong>the</strong> plan is to source directly from<br />
25,000 farmers," he said.<br />
On <strong>the</strong> company's plans to increase supply in <strong>the</strong> domestic market, he said <strong>the</strong> company is not only<br />
looking at tie-up with more farmers in new states, but also to source fruits as a part of <strong>the</strong> direct farm<br />
model that was set up in 2008.<br />
"Currently we source vegetables from farmers. We are also working on developing exclusive crops such<br />
as seedless watermelon," <strong>the</strong> spokesperson said, adding <strong>the</strong> firm has imported seeds from Ne<strong>the</strong>rlands<br />
and provided technical know -how to <strong>the</strong> farmers. "This year we aim to supply about 150 tons to Easy<br />
day stores in India," he added.<br />
Presently, 25 per cent of <strong>the</strong> total farm produce that <strong>the</strong> company sells at its whole sale stores and<br />
Bharti's Easyday retail outlets is sourced from farmers directly. The company also plans to start sourcing<br />
from Andhra Pradesh shortly. It is also looking to expand <strong>the</strong> basket by sourcing fruits like banana,<br />
mango, papaya and apple from India. Bharti Walmart currently operates 17 wholesale cash-and- carry<br />
stores under Best Price Modern Wholesale stores in India.<br />
The company claims that <strong>the</strong> farmers are paid prices equivalent to that of <strong>the</strong> local mandis, but with a<br />
premium of 5-10 per cent.<br />
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Lupin, DRL, Sun get US nod for mental disorder drug<br />
Three Indian drug majors, Lupin, Dr. Reddy's, and Sun Pharma have got approvals from <strong>the</strong> US health<br />
regulator to sell generic quetiapine fumarate tablets, used in treating mental disorders, in <strong>the</strong> <strong>American</strong><br />
market.<br />
In separate statements, Lupin, Dr. Reddy's, Sun Pharma said <strong>the</strong> approvals from <strong>the</strong> US Food and Drug<br />
Administration (USFDA) were for multiple strengths of <strong>the</strong> drug in 25 mg, 50 mg, 100 mg, 200 mg, 300<br />
mg and 400 mg."We expect close to 90% price erosion due to competition and we are confident that we<br />
will garner healthy market share of <strong>the</strong> product given our track record and excellent trade relations<br />
within <strong>the</strong> US market," a Lupin spokesperson said.<br />
The company has already commenced shipping product, he added. Similarly, Hyderabad-based Dr.<br />
Reddy's Laboratories said it has launched <strong>the</strong> generic drug in <strong>the</strong> US market. Mumbai-headquartered<br />
Sun Pharmaceutical Industries said <strong>the</strong> approval has been granted to its US subsidiary. The quetiapine<br />
fumarate tablets are generic equivalent of AstraZeneca's Seroquel Tablets. According to IMS Health<br />
December 2011 data, AstraZeneca's Seroquel Tablets had sales of $4.6 billion.<br />
Quetiapine is a psychotropic agent, indicated for treatment of schizophrenia and acute treatment of<br />
manic episodes associated with mental disorder. The drug is also indicated as mono<strong>the</strong>rapy for <strong>the</strong><br />
acute treatment of depression. Shares of Lupin were trading at Rs. 515 on <strong>the</strong> BSE in <strong>the</strong> afternoon<br />
trade, up 0.48% from its previous close, while that of Dr. Reddy's Laboratories were trading at Rs. 1,715<br />
on <strong>the</strong> BSE, up 2.08%. Sun Pharma shares were trading at Rs. 570.10 on <strong>the</strong> BSE, down 0.91% from its<br />
previous close.<br />
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Pfizer terminates $350-mn insulin marketing deal with Biocon<br />
In a surprise move, US drug giant Pfizer Inc., called off an insulin distribution agreement with Biocon to<br />
sell <strong>the</strong> Bangalore-based company's bio similar <strong>version</strong>s of <strong>the</strong> drug in key global markets including <strong>the</strong><br />
US.
The development comes even as global pharmaceutical giants are making a bee-line to India to tie-up<br />
with local drug makers to sell generic <strong>version</strong>s of patent-losing drugs globally in order to shore up <strong>the</strong>ir<br />
revenues as nearly $150 billion worth of drugs are expected to lose <strong>the</strong>ir patents by 2015.It also comes<br />
at a time when Pfizer, <strong>the</strong> world's largest drug maker, is in <strong>the</strong> middle of a major restructuring following<br />
its $68-billion merger with Wyeth in 2009 and is focused on its core pharmaceuticals business.<br />
Both companies said in a joint statement that <strong>the</strong> reason for terminating <strong>the</strong> agreement was due to "<strong>the</strong><br />
individual priorities for <strong>the</strong>ir respective bio similar businesses, it is in <strong>the</strong>ir best interest to move forward<br />
independently."<br />
In October 2010, Pfizer entered into a deal with Biocon to sell <strong>the</strong> Indian drug maker's bio similar<br />
<strong>version</strong>s of diabetes treatment insulin. Under <strong>the</strong> deal, Biocon was paid $200 million up front and was<br />
also be eligible to receive additional development and regulatory milestone payments of up to $150<br />
million in addition to payments related to sales of <strong>the</strong>se medicines (See: Pfizer, Biocon enter into deal<br />
for bio similar insulin)<br />
Under <strong>the</strong> agreement, Biocon would be responsible for developing and manufacturing <strong>the</strong> treatments.<br />
Its responsibility was also to secure regulatory approvals, and Pfizer was to have got exclusive rights to<br />
commercialize Biocon's drugs - recombinant human insulin, Glargine, Aspart and Lispro – globally,<br />
excepting in countries like Germany, India and Malaysia, w<strong>here</strong> Biocon was to share co-exclusive rights<br />
with Pfizer. With <strong>the</strong> deal being terminated, <strong>the</strong>se rights have now reverted to Biocon and all insulin<br />
distributed under <strong>the</strong> brand name Univia and Glarvia will be exclusively manufactured, supplied,<br />
marketed, sold and supported by Biocon.<br />
Biocon chairman Kiran Mazumdar-Shaw, who set up <strong>the</strong> company in her garage in 1978, said that<br />
Biocon will retain a "significant part" of <strong>the</strong> $200 million that Pfizer paid upfront as part of <strong>the</strong> deal and<br />
will also receive an additional amount from <strong>the</strong> New York-based company for annulment of <strong>the</strong> deal.<br />
Biocon would forfeit up to $150 million of payments linked to regulatory and sales milestones that it<br />
could have received from Pfizer over <strong>the</strong> three to five years from 2010, she added.<br />
Citing people privy to <strong>the</strong> deal, The Economic Times reported that "Pfizer was unhappy with <strong>the</strong><br />
progress on <strong>the</strong> partnership and often complained that Biocon lacked systems and processes to deliver<br />
on commitments built into <strong>the</strong> product licensing deal." As part of <strong>the</strong> agreement, Biocon was to have set<br />
up an insulin manufacturing plant in Malaysia, but was unable to do so within <strong>the</strong> stipulated time frame.<br />
Although <strong>the</strong> deal was inked in October 2010, Biocon announced in September 2011, that it would<br />
invest $161 million (Rs. 715 crore) to set up a bio-manufacturing and R&D facility in Bio-XCell, a biotech<br />
park and ecosystem in Iskandar Malaysia, Johor, and <strong>the</strong> facility was to become operational by 2014<br />
(See: Biocon to set biopharmaceutical plant, R&D centre in Malaysia).<br />
The $14-billion global insulin market is dominated by three drug makers, Sanofi, Eli Lilly & Co and Novo<br />
Nordisk. A deal with Pfizer would have given Biocon <strong>the</strong> advantage of <strong>the</strong> pharmaceutical giant's<br />
worldwide marketing network.Biocon said that it will continue to work with its existing partners in<br />
several markets and will pursue a commercial strategy on its own and through new alliances in o<strong>the</strong>r<br />
markets.<br />
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Tulip Telecom ties up with US' Polycom<br />
Enterprise data services provider Tulip Telecom tied up with US-based Polycom to offer high definition<br />
managed video conferencing solution to its customers in India. Tulip will host cloud-based video
conferencing and telepresence services to customers from its data centers. The company said it was<br />
targeting primarily <strong>the</strong> large and medium enterprises offering complete scalability and interoperability.<br />
Businesses will be able to leverage high-end, telco-grade infrastructure with minimal upfront cost on a<br />
'pay-as-you-use' model.<br />
The BSE-listed company expects India to be a significant market for video conferencing solutions globally<br />
since adoption of video conferencing solutions locally was increasing. In addition to large enterprises,<br />
small and medium enterprises are also looking to adopt video conferencing solutions as networks are<br />
becoming increasingly scalable, said Tulip Telecom's director for product management Sukhmani Bedi.<br />
The company is pitching <strong>the</strong> high-definition managed video conferencing service as a tool to help driving<br />
down operational cost for users to a substantial level by reducing <strong>the</strong> travel costs of employees, which<br />
fur<strong>the</strong>r results in boosting <strong>the</strong> productivity of an organization.<br />
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India’s Investments in U.S<br />
Sahara India bids $600 million for Plaza Hotel in New York<br />
Multi-business Indian conglomerate Sahara India Pariwar, whose businesses range from airlines, luxury<br />
resorts to media finance, has made an unsolicited $600 million bid for Plaza Hotel in New York, The Wall<br />
Street Journal today reported, citing people familiar with <strong>the</strong> matter.<br />
The deal would need <strong>the</strong> approval of two owners, Israeli entrepreneur Isaac Tshuva's Elad Properties<br />
and Kingdom Holdings, controlled by Saudi billionaire Prince Alwaleed bin Talal. Sahara India Pariwar,<br />
run by billionaire Subrata Roy has made <strong>the</strong> offer to El Ad, which is examining <strong>the</strong> proposal. Sahara's<br />
$600-million offer is divided into two parts, $400 million for <strong>the</strong> hotel portion of <strong>the</strong> Plaza, which has<br />
230 rooms, and <strong>the</strong> remaining $200 million for <strong>the</strong> retail portion of <strong>the</strong> hotel, which encompasses <strong>the</strong><br />
hotel's banquet hall, fitness centre and o<strong>the</strong>r common areas wholly owned by El Ad.<br />
Kingdom spokesman Charles Henry told <strong>the</strong> paper, "Kingdom is not a seller of its interest at this time,"<br />
but El Ad can sell its own interest, though Kingdom's approval of such a deal would be needed. Kingdom<br />
owns 50 per cent of an entity that holds 130 of <strong>the</strong> Plaza's rooms and 25 per cent of ano<strong>the</strong>r entity that<br />
holds 100 rooms that were to be sold as condominiums but are still rented out as hotel rooms. El Ad<br />
owns <strong>the</strong> rest.<br />
The offer comes less than two years after Sahara India Pariwar acquired <strong>the</strong> historic Grosvenor House<br />
Hotel that was once home to <strong>the</strong> Duke of Westminster and frequented by royalty, celebrities and<br />
business leaders, for throwaway price of £470 million ( ` 3,275 crore. The Plaza Hotel located at fifth<br />
Avenue and Central Park South, opened its doors on 1 October 1907 and is considered as one of<br />
America's most celebrated hotels.<br />
Kings, presidents, ambassadors, movie and sports stars, as well as business executives and travellers<br />
from all parts of <strong>the</strong> world have stayed at The Plaza.<br />
The Plaza was so well known that Ernest Hemingway once advised Scott Fitzgerald to give his liver to<br />
Princeton and his heart to The Plaza. The Plaza has provided <strong>the</strong> location for o<strong>the</strong>r motion pictures such<br />
as The Way We Were, The Great Gatsby, Barefoot in <strong>the</strong> Park, Funny Girl and Home Alone II. Designated<br />
a New York City Landmark in 1969, The Plaza is listed on <strong>the</strong> Register of Historic Places and <strong>the</strong> only New<br />
York City hotel to be designated as a National Historic Landmark.<br />
Since 1999, The Plaza has been managed by Fairmont Hotels & Resorts, which is 35 per cent owned by<br />
Kingdom Holdings. Any deal would require <strong>the</strong> termination of <strong>the</strong> management of <strong>the</strong> Plaza by Fairmont<br />
and run by Sahara. Sahara owns <strong>the</strong> Sahara Star Hotel in Mumbai, which has 210 guest rooms and 13<br />
suites and <strong>the</strong> luxurious 10,600 acres Aamby Valley City.
In 2010, Sahara failed to acquire <strong>the</strong> legendry but debt-ridden Hollywood studio Metro-Goldwyn-Mayer<br />
Inc for $2 billion.<br />
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eClerx acquires US-based Agilyst<br />
eClerx Services Ltd has acquired US-based Agilyst Inc, a knowledge process outsourcing company<br />
through its overseas subsidiary eClerx Investments Ltd.<br />
Agilyst Inc. will operate as a fully-owned subsidiary of eClerx. Amarchand Mangaldas, which acted as <strong>the</strong><br />
Indian legal advisor to eClerx Services, said in a statement. The transaction will be funded from eClerx's<br />
internal resources and <strong>the</strong>re is no intention to raise any incremental capital. The deal value is<br />
confidential.<br />
Avendus Capital served as <strong>the</strong> financial and strategic advisor to eClerx on <strong>the</strong> transaction while MAPE<br />
Advisory Group served in <strong>the</strong> same capacity for Agilyst. Agilyst's management team will continue to<br />
manage day-to-day operations. The consideration for <strong>the</strong> acquisition will be all cash and includes a<br />
substantial earn out component based on Agilyst's future performance.<br />
Founded in 2007 by Mr. Mahesh Dhillon, Agilyst is a back-office operational and Analytics Company<br />
focused on <strong>the</strong> North <strong>American</strong> media industry. Agilyst's services include critical error identification,<br />
customer experience analysis and end user support services. Agilyst has a low cost delivery base in a<br />
Tier-2 city. It employs approximately 1,000 people, most of <strong>the</strong>m in India.<br />
Founded in 2000, eClerx provides data analytics and customized process solutions to global enterprise<br />
clients. eClerx currently employs more than 4,000 people across five delivery centers in India It has sales<br />
and marketing offices located in London, New York, Austin, Dublin and Singapore.<br />
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Bharti in talks to buy Qualcomm licenses<br />
Bharti Airtel is reportedly in advanced discussions with US chipmaker Qualcomm to buy <strong>the</strong> latter's<br />
fourth-generation licenses for about Rs. 6,000 crore, an acquisition that will allow <strong>the</strong> country's largest<br />
telecom services provider to quickly launch 4G services in <strong>the</strong> key markets of Delhi and Mumbai.<br />
Citing an unnamed person familiar with <strong>the</strong> matter, The Economic Times said <strong>the</strong> deal is likely to be<br />
closed by June and will be accompanied by technology agreements between Qualcomm and Bharti.<br />
Fourth-generation, or 4G, services offer users internet access at three times <strong>the</strong> speed of 3G and<br />
requires broadband airwaves.<br />
Qualcomm, which had won airwaves in four regions - Mumbai, Delhi, Haryana and Kerala - in <strong>the</strong><br />
broadband wireless auction of 2010 for Rs4,900 crore, had begun talks to sell its 74-per cent stake in its<br />
Indian joint venture to Bharti later that year.<br />
But <strong>the</strong> talks were put on hold after <strong>the</strong> telecom department cancelled <strong>the</strong> US chipmaker's mobile<br />
broadband permits last year on <strong>the</strong> grounds that it had not applied for licenses within three months of<br />
<strong>the</strong> auction.<br />
The telecom department fur<strong>the</strong>r alleged that Qualcomm applied for permits under <strong>the</strong> names of four<br />
different companies, violating auction guidelines that said winners could nominate only one company<br />
for obtaining a licence.
But last month, <strong>the</strong> Telecom Disputes Settlement & Appellate Tribunal (TDSAT) ruled in favor of<br />
Qualcomm's India unit, and <strong>the</strong> company is expected to receive spectrum in 10 days, paving <strong>the</strong> way for<br />
discussions to be revived and <strong>the</strong> transaction to possibly go ahead, <strong>the</strong> report says.<br />
A Bharti Airtel spokesman said <strong>the</strong> company did not comment on market speculation, while emails to<br />
<strong>the</strong> US Company were unanswered. "The sale is Qualcomm's decision, we are not involved at this point,"<br />
said H S Bedi, chairman and managing director of Tulip Telecom, one of Qualcomm's two partners in<br />
India. Qualcomm divested 13 per cent each to Tulip Telecom and GTL Infrastructure shortly after<br />
winning <strong>the</strong> 4G licenses to ensure it ad<strong>here</strong>d to Indian norms that cap foreign holding in a telecom<br />
company at 74 per cent.<br />
On Tuesday, Bharti launched India's first 4G services in Kolkata. The company plans to follow suit in<br />
Bangalore within a month. But <strong>the</strong> country's largest telecom company had won permits for only four<br />
circles in <strong>the</strong> broadband wireless auctions and is in danger of being outgunned in this segment by<br />
Reliance Industries, which bagged airwaves for <strong>the</strong> entire country.<br />
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Indian companies invest Rs. 820 million in US manufacturing<br />
A survey reveals that Indian companies operating in 40 US states have invested over $820 million in<br />
manufacturing facilities in America, creating thousands of jobs. The economic and social impact of <strong>the</strong><br />
investments made by Indian companies is detailed in <strong>the</strong> survey titled Indian Roots, <strong>American</strong> Soil:<br />
Adding Value to US Economy and Society, released by <strong>the</strong> Confederation of Indian Industry (CII)<br />
The reception to <strong>the</strong> event marking <strong>the</strong> release of The 2012 India Business Forum (IBF) survey was<br />
attended among o<strong>the</strong>rs by <strong>the</strong> four co-chairs of <strong>the</strong> India Caucus on <strong>the</strong> Senate and House side: Senator<br />
John Cornyn, Senator Mark Warner, Congressman Joseph Crowley and Congressman Ed Royce.<br />
"The rapidly expanding India-US trade and economic engagement provides a key underpinning to <strong>the</strong><br />
strategic partnership between our two countries," said Nirupama Rao, India's ambassador to <strong>the</strong> US.<br />
"Our aim, through <strong>the</strong> India Business Forum, is to highlight <strong>the</strong> range and depth of Indian investments in<br />
<strong>the</strong> United States and also to try and dispel some of <strong>the</strong> misconceptions associated with Indian<br />
companies," said Sandhya Satwadi, regional director, CII.<br />
Among <strong>the</strong> key findings was that 70 per cent of companies surveyed had increased <strong>the</strong> number of<br />
employees since 2005, despite <strong>the</strong> US economic downturn. Also over than 34 per cent of <strong>the</strong> surveyed<br />
companies had established manufacturing facilities in <strong>the</strong> US, investing more than $820 million in those<br />
facilities.<br />
The surveyed companies collectively accounted for 72 mergers and acquisitions in <strong>the</strong> US, since 2007,<br />
saving, creating and sustaining thousands of jobs. The collective revenues for 2010-11 were in excess of<br />
$23 billion of <strong>the</strong> surveyed companies. Projected research and development investments of <strong>the</strong><br />
surveyed companies had been estimated at over $190 million in 2012 alone.<br />
Around 65 per cent of companies surveyed were engaged in Corporate Social Responsibility (CSR)<br />
initiatives,<br />
These include programmes supporting 27 universities, community colleges and high schools in<br />
developing curriculum, establishing training programmes and encouraging Science-Technology-<br />
Engineering-Ma<strong>the</strong>matics (STEM) education. The US lawmakers lauded <strong>the</strong> role of Indian companies in<br />
<strong>the</strong> US and particularly companies like Tata and Wipro in employment generation.
Speaking on <strong>the</strong> occasion, Senator John Cornyn, co-founder and co-chair of <strong>the</strong> Senate India Caucus said,<br />
"I welcome <strong>the</strong> fact that Indian companies are investing substantial capital in <strong>the</strong> US, which has already<br />
yielded tangible results in Texas and across <strong>the</strong> US." The relationship between <strong>the</strong> US and India would<br />
be a critical one for <strong>the</strong> future of both of our economies, according to senator Jeanne Shaheen, <strong>the</strong><br />
latest senator to join <strong>the</strong> 40-member Senate India Caucus.<br />
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Mahindra Satyam Acquires Kirkland, Washington headquartered vCustomer's<br />
International Operations for $27 Million<br />
Mahindra Satyam, a leading global consulting and IT services provider, has announced <strong>the</strong> 100 per cent<br />
acquisition of BPO firm vCustomer’s International operations for $27 million. This is <strong>the</strong> first 100 per<br />
cent acquisition by Mahindra Satyam since it became part of Mahindra Group and marks <strong>the</strong> entry of<br />
Mahindra Satyam’s BPO operations into o<strong>the</strong>r verticals such as retail and consumer technology in<br />
addition to significantly enhancing technical support credentials, a statement said on Wednesday.<br />
"The combination of vCustomer’s expertise in <strong>the</strong> retail and consumer technology verticals with<br />
Mahindra Satyam’s domain expertise and customer base will fur<strong>the</strong>r streng<strong>the</strong>n <strong>the</strong> ability to address<br />
evolving market needs," <strong>the</strong> statement added.<br />
C. P. Gurnani, CEO, Mahindra Satyam, commented: “This is a landmark moment in Mahindra Satyam's<br />
resurgence and reflects our investment appetite to enhance domain depth and global scale, across<br />
diverse verticals. The focus and operations of vCustomer maps perfectly with our global operating<br />
model - allowing for seamless integration and smooth transition of processes and associates.”<br />
Commenting on <strong>the</strong> business outlook, Sanjay Kumar, Founder and CEO, vCustomer said: “vCustomer has<br />
harnessed formidable expertise and a diversified geographical presence across <strong>the</strong> retail and consumer<br />
technology sectors. Mahindra Satyam's synergy and commitment to investment in business growth will<br />
spur growth plans and help build new service offerings.”<br />
Earlier, media reports suggested that Mahindra Satyam was close to buying 20-30% in Comviva<br />
Technologies, <strong>the</strong> mobile software development unit of Bharti Enterprises. A Bharti team in charge of<br />
selling its non-core business was in talks with Mahindra Satyam and <strong>the</strong> deal could fetch Rs 400-500<br />
crore.<br />
vCustomer Corporation, which offers customer care and technical support solutions, and is present in<br />
<strong>the</strong> retail, consumer technology, and communications sectors. It employs globally and is headquartered<br />
in Kirkland, Washington.<br />
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EdServ ties up with Amazon.com<br />
EdServ Softsystems Limited, an education support services company, has tied-up with online retail major<br />
Amazon.com to offer its 2tionPlus educational applications through <strong>the</strong> latter’s app store.<br />
S. Giridharan, chairman and chief executive officer of EdServ, said, “Through this tie-up with<br />
Amazon.com, we will provide <strong>the</strong> entire online education content, including tuition, academics, skill<br />
development and test prep services, on <strong>the</strong> Amazon app store.”<br />
2tionPlus is a social networking collaborative learning application to provide support of around 30,000<br />
tutors to <strong>the</strong> students. It has over one million embedded videos arranged based on subjects and also<br />
supports students in creating study groups and undertaking collaborative learning.
While downloading and installing <strong>the</strong> application is free, users would be charged with a fee for <strong>the</strong><br />
premium content provided through <strong>the</strong> company’s web-based platform for online tuition -<br />
Lampsglow.com. Last year, <strong>the</strong> company had tied-up with major mobile brands, including Blackberry,<br />
Nokia and Samsung, to offer its educational content through smartphones.<br />
More than 50 per cent of <strong>the</strong> overall users of EdServ’s education content are from <strong>the</strong> mobile segment,<br />
according to a company announcement.<br />
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Caterpillar, Steelcast in tie-up<br />
The Gujarat-based Steelcast, a castings manufacturer, has entered into an agreement with global major<br />
Caterpillar Inc. Under <strong>the</strong> agreement, Steelcast will set up a dedicated manufacturing facility to make<br />
castings conforming to Caterpillar's specifications.<br />
Caterpillar will give an interest free loan of $5 million (Rs 25 crore) to Steelcast. The loan is to be repaid<br />
over four years. Caterpillar is a global leader in <strong>the</strong> manufacture of construction and mining equipment,<br />
diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Revenues for 2011<br />
total $60 billion. Mr. Chetan Tamboli, Chairman, Steelcast, said, “Through this agreement, we expect<br />
sales to Caterpillar to grow multi-fold from around Rs. 40 crore in 2010-11 to about Rs. 150 crore in<br />
2015.”<br />
Mr. Tamboli said that in February a team from <strong>the</strong> <strong>American</strong> Association of Rail Road audited <strong>the</strong><br />
company's manufacturing facility at Bhavnagar, Gujarat. The team is expected to certify <strong>the</strong> production<br />
facility to enable Steelcast to export castings to <strong>the</strong> US Railways from June. Steelcast expects to clock<br />
revenues of over Rs. 225 crore in 2011-12, with about exports mainly to Germany and <strong>the</strong> US accounting<br />
for about 45 per cent.<br />
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United Spirits debuts in America<br />
Quietly away from <strong>the</strong> financial stress UB Group companies are going through, United Spirits, its flagship<br />
company, has debuted a popular whisky brand, Royal Challenge, in one of <strong>the</strong> toughest consumer<br />
markets of <strong>the</strong> globe, America.<br />
“Royal Challenge was recently introduced in New York at select modern format retail stores. A UB Group<br />
resource is working on this initiative and supermarket chains such as Bayway World of Liquor, Buy Rite,<br />
Shop Rite and Liquor Locker are stocking <strong>the</strong> brand,” a senior management official told Business<br />
Standard. United Spirits is testing <strong>the</strong> market with a few thousand cases. “We will next look at San<br />
Francisco, w<strong>here</strong> <strong>the</strong>re is a sizeable Indian population,” <strong>the</strong> official added.<br />
United Spirits sold 127 million cases (a case is nine liters) last year and has a 53 per cent share in <strong>the</strong><br />
Indian Made Foreign Liquor market. It is looking to touch <strong>the</strong> 200-million case mark within three years. A<br />
fifth of its Rs. 7,000-crore top line comes from abroad. Royal Challenge is among <strong>the</strong> top selling whiskies<br />
in India, with sales of 1.2 million cases per annum and a market share of 33 per cent in its category.<br />
Ablend of imported scotch and Indian malts, it has been in existence for 24-years, Prior to debuting in<br />
America, it had formed an ‘emerging markets’ dvision as part of a strategy to dot more global locations.<br />
It appears <strong>the</strong> company would evaluate a handful of joint ventures in Africa. The plan is to go into Africa,<br />
Russia and, with more emphasis, West Asia and Sou<strong>the</strong>ast Asia. On <strong>the</strong> financial front, it is taking steps<br />
to reduce gearing. A coming $225-mn foreign currency convertible bond offering would reduce <strong>the</strong><br />
interest outflow on debt of Rs 7,500 crore, with a gearing of 1.7 times. The company’s interest cost<br />
accounted for 43.3 per cent of its Ebitda (earnings before interest, taxes, depreciation and amortisation)<br />
and 47.5 per cent of its Ebit in 2010-11.
Sharan Lillaney, an analyst with Angel Broking, wrote in his latest report that if <strong>the</strong> company managed to<br />
raise $225 million, about $150 mn would be used to reduce debt and lower interest cost and cash<br />
outflow. “Assuming an annual 10 per cent interest cost, <strong>the</strong> company could easily save around $15mn or<br />
Rs. 75 crore annually in interest cost. Interest cost at <strong>the</strong> end of FY2011 stood at Rs. 498 crore, which we<br />
believe will increase to Rs. 650 crore by <strong>the</strong> end of FY12. If <strong>the</strong> company reduces debt by $150 mn, it<br />
could annually reduce its interest cost by 11-12 per cent,” Lillaney wrote<br />
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IL&FS may buy Hershey’s 51% in joint venture<br />
Private equity major IL&FS Investment Managers (IL&FS) has offered around $35 million or Rs 175 crore<br />
to buy out US chocolate confectionery major The Hershey Company's 51% stake in its Indian joint<br />
venture (JV) with <strong>the</strong> Godrej Group. The Godrej Group would continue to hold <strong>the</strong> remaining 49% in <strong>the</strong><br />
company, which will go back to its original name, Godrej Beverages & Foods. The Godrej Group will go<br />
back to managing <strong>the</strong> business as it did prior to forging <strong>the</strong> JV with Hershey's.<br />
TOI has learnt from sources that after <strong>the</strong> exit of Hershey's, <strong>the</strong> Godrej Group is likely to forge ano<strong>the</strong>r<br />
joint venture with a food multinational. These talks are, however, in <strong>the</strong> exploratory stage. According to<br />
sources in <strong>the</strong> know, an offer was recently made by IL&FS to Hershey's, which is expected to come back<br />
on its approval soon. Sources said that although <strong>the</strong> joint venture is valued at Rs. 350 crore, <strong>the</strong> amount<br />
quoted by IL&FS for <strong>the</strong> Hershey stake is much lower than what Hershey's had paid to <strong>the</strong> PE firm in<br />
2007 to gain an entry into India — over Rs. 250 crore.<br />
A Mahendran, who is director on <strong>the</strong> board of Godrej Hershey, was not available for comments, while<br />
The Hershey Company could not be reached. Hershey's is expected to go it alone in India, and is said to<br />
be keen on pushing its products to consumers <strong>here</strong>. The only product from <strong>the</strong> <strong>American</strong> chocolate<br />
maker's stable which has so far been launched by <strong>the</strong> JV in India is <strong>the</strong> chocolate syrup. While talks are<br />
in <strong>the</strong> early stages, <strong>the</strong> Godrej Group is understood to be in discussions with a few food multinationals<br />
that are keen on entering India. As and when this happens, IL&FS would exit <strong>the</strong> company.<br />
Cultural issues appear to have resulted in a break-up between Godrej and Hershey. The JV operated in<br />
multiple categories such as confectionery, beverages and grocery products. Brands like Mahalacto,<br />
Nutrine, Jumpin and Sofit were part of <strong>the</strong> product portfolio. Prior to Hershey’s, <strong>the</strong> Godrej Group had a<br />
tie-up with Pillsbury, which was called off in 2001.<br />
Among o<strong>the</strong>r joint ventures which have not lasted for <strong>the</strong> Godrej group include <strong>the</strong> one with US<br />
personal care giant, Procter & Gamble, which ended in a bitter break-up around 1995. The only JV of <strong>the</strong><br />
group which has lasted for 15 long years was with Sara Lee Corp. Besides being a platform for MNCs<br />
marking an entry into India, <strong>the</strong> Godrej Group has, on its own, expanded its base outside India into<br />
Africa, <strong>Indo</strong>nesia, South America and UK, on <strong>the</strong> back of a well chalked out acquisition strategy.<br />
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Ybrant Digital close to acquiring US firm for $200 million<br />
Ybrant Digital, a Hyderabad-based digital marketing and online advertising company, is set to acquire a<br />
US-based online services firm for around $200 million (Rs 1,000 crore), underscoring its global ambitions<br />
in <strong>the</strong> fast-growing sector of <strong>the</strong> media industry.<br />
ET could not ascertain <strong>the</strong> identity of <strong>the</strong> company that Ybrant is about to buy. Two people familiar with<br />
<strong>the</strong> negotiations said that <strong>the</strong> target company is a provider of online comparison shopping, personal<br />
finance and educational services, a platform w<strong>here</strong> US universities, banks and financial institutions<br />
advertise.
Among <strong>the</strong> top US online comparison shopping firms with over $100 million in revenue are ShopZilla,<br />
Nextag, Shopping.com and Pricegrabber. Ybrant, founded by IIT-Kharagpur alumnus Suresh Reddy, has<br />
been a serial acquirer over <strong>the</strong> past five years as it puts toge<strong>the</strong>r <strong>the</strong> pieces required to compete<br />
effectively in <strong>the</strong> online advertising and marketing space.<br />
According to media services company Magna Global, internet advertising is poised to become <strong>the</strong><br />
second biggest media category in 2012 with a 20% share of <strong>the</strong> nearly $450-billion global market. Last<br />
year, internet advertising revenues grew by nearly 17% to $79 billion. Ybrant's competitors include <strong>the</strong><br />
likes of India's Komli Media and <strong>the</strong> Nasdaq-listed ValueClick, with sales of $560 million.<br />
With less than 100 million internet users in India, homegrown digital advertising and marketing<br />
companies have been showing an appetite for global purchases. Komli Media, a venture-backed firm,<br />
has been growing rapidly and making acquisitions in Sou<strong>the</strong>ast Asia, Australia and <strong>the</strong> United Kingdom.<br />
In <strong>the</strong> mobile space, InMobi last year won funding of $200 million and is challenging <strong>the</strong> market<br />
dominance of internet giant Google.<br />
Last year, Ybrant acquired Bombay Stock Exchange-listed information technology services firm LGS<br />
Global in an all-stock deal, just a year after acquiring <strong>the</strong> onceiconic internet brand Lycos for $36 million.<br />
Ybrant and <strong>the</strong> target company have appointed two New York-based bankers for due diligence and<br />
valuation.<br />
A part of <strong>the</strong> due diligence has been completed and discussions are on about valuation, a source said.<br />
The Hyderabad company has so far spent about $100 million on eight acquisitions, in Israel, Australia,<br />
Argentina, Serbia and <strong>the</strong> United States.<br />
Ybrant expects to close <strong>the</strong> current fiscal at <strong>the</strong> end of this month with revenue of around $250 million.<br />
Reddy, who is also <strong>the</strong> managing director, confirmed that <strong>the</strong> company is looking at acquiring a large<br />
USbased firm but declined to provide details citing a non-disclosure agreement.<br />
Ybrant is looking at initially raising <strong>the</strong> funds required for acquisition through institutional debt, for<br />
which it is learnt to have obtained in principle sanctions. It plans to retire <strong>the</strong> debt subsequently through<br />
raising ano<strong>the</strong>r round of funds from private equity players. The merger of LGS Global with Ybrant has<br />
been approved by shareholders and a final order on <strong>the</strong> merger is expected from <strong>the</strong> Andhra Pradesh<br />
High Court on March 26. Ybrant, which had filed a draft red herring prospectus with <strong>the</strong> Indian securities<br />
market regulator in September 2007, eventually shelved <strong>the</strong> IPO plans and chose to raise funds from<br />
private equity players.<br />
Ybrant has so far received over $100 million from global private equity firms including Oak Investment<br />
Partners, GE Asia Pacific Capital, Passport Capital, Venus Capital, Delaware State Capital and Eight<br />
Capital.<br />
Internet advertising is poised to become <strong>the</strong> second biggest media category in 2012. Its projected share<br />
is 20% of <strong>the</strong> nearly $450-billion global market.<br />
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US investments in India<br />
P&G to build largest Indian plant in Hyderabad<br />
Procter & Gamble, <strong>the</strong> world's largest consumer goods company, will build its largest manufacturing<br />
plant in <strong>the</strong> Indian sub-continent in Hyderabad by investing 345 crore. The plant, to be spread across<br />
170 acres at Mahbubnagar district, will make products across categories such as laundry, personal and<br />
baby care, a person, who is <strong>the</strong> know said on condition of anonymity.<br />
P&G India's associate director, product supply, Madhav Rao confirmed that <strong>the</strong> maker of Tide detergent<br />
and Head & Shoulder shampoo will build a manufacturing facility in Hyderabad. The plant will start<br />
commercial production in two years. Andhra Pradesh industries Secretary TS Appa Rao said P&G has<br />
awarded <strong>the</strong> construction contract to L&T. "They have asked for a tailor made package of tax breaks and<br />
<strong>the</strong> state investment promotion board is considering it," Rao said.<br />
The $82.6-billion (sales in FY11) US giant had considered Chennai too as a possible site for its plant.<br />
Building <strong>the</strong> plant in Hyderabad will make it eligible for a 100% stamp duty reimbursement and fixed<br />
power allocation as per Andhra Pradesh's newly-revised industrial policy. The company has also asked<br />
for a 75% reimbursement on VAT for five years. The move is in line with <strong>the</strong> Cincinatti-based firm's<br />
global mandate to set up over 20 production centres and acquire one billion new consumers in<br />
emerging markets by 2015. P&G is looking to catch up with archrival Unilever in India and most<br />
emerging markets. Making more products locally and reducing imports will help it speed up product<br />
launches and cut costs.<br />
It currently has five plants and over nine contract manufacturing sites in India. Last year, P&G approved<br />
an investment plan of over 900 crore in its unlisted arm Procter & Gamble Home Products. Most of this<br />
money will go into powering P&G's 'Project 2-3-4,' which is aimed at doubling <strong>the</strong> number of Indians<br />
who use its products, trebling per capita spending by Indians on its products and quadrupling net sales<br />
of its India operations by 2015. Anand Mour, senior analyst at brokerage firm Ambit Capital, said P&G<br />
will need to spruce up production to quadruple its sales. "Making products locally will help P&G in<br />
economies of scale to localise and price <strong>the</strong>ir products aggressively," he said.<br />
P&G is also expanding its existing multi-product manufacturing facility in Bhopal. It has doubled its<br />
distribution reach over <strong>the</strong> past couple of years and now has a direct reach of 1.3 million outlets, against<br />
HUL's direct reach of 2 million outlets. At present, India is one of <strong>the</strong> smallest markets for P&G with just<br />
$1-billion sales across three subsidiaries -Procter & Gamble Health & Hygiene, Gillette India and Procter<br />
& Gamble Home Products.<br />
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Honeywell plans to invest Rs. 402 crore on new center<br />
Honeywell Technology Solutions, <strong>the</strong> R&D arm of global technology major Honeywell, is setting up a<br />
new centre in Bangalore. The company has received approval from <strong>the</strong> Karnataka government for<br />
setting up <strong>the</strong> facility which entails an investment of Rs. 402 crore, according to highly placed sources in<br />
<strong>the</strong> state government.<br />
The new centre will come up in <strong>the</strong> Karnataka Industrial Areas Development Board’s ITôITeS industrial<br />
area near <strong>the</strong> Bangalore International Airport at Devanahalli. Honeywell is understood to have informed<br />
<strong>the</strong> government that <strong>the</strong> new facility would focus on product development, engineering and service in<br />
<strong>the</strong> areas of automation and control solutions (ACS), R&D labs, prototyping and related activities.<br />
When contacted, <strong>the</strong> company in an email statement, said: “We have applied to <strong>the</strong> state government<br />
for <strong>the</strong> said project. We have not received a formal communication from <strong>the</strong> authorities on <strong>the</strong> same.”<br />
Sources in <strong>the</strong> government said that Honeywell, in its proposal, had proposed to make an investment of<br />
Rs. 402.50 crore which would likely to create employment opportunity for about 2,500 people.<br />
However, <strong>the</strong> company declined to comment on this. The government approval is valid for a period of<br />
two years. Honeywell Technology Solutions (HTS) has its technology and engineering centres located in<br />
Bangalore, Hyderabad and Madurai. The company employs about 5,500 people in India. In Bangalore,<br />
HTS operates three centers. According to <strong>the</strong> recommendations made by <strong>the</strong> state High Level Clearance<br />
Committee and government, Honeywell will be provided with necessary infrastructure to set up <strong>the</strong><br />
unit. As per <strong>the</strong> approval, a 30-acre parcel of land will be allotted to <strong>the</strong> company in <strong>the</strong> ITTeS industrial<br />
area at Devanahalli based on <strong>the</strong> assessment of land by <strong>the</strong> land audit committee. Apart from this, <strong>the</strong><br />
company will also get incentives as per <strong>the</strong> Karnataka IT Policy. The state government, in its order, has<br />
advised <strong>the</strong> company to train local people and provide employment to <strong>the</strong> trained local youth.<br />
As per <strong>the</strong> vendor development programme of <strong>the</strong> government, Honeywell has to prepare a vendor<br />
development plan and procure <strong>the</strong> required inputs, components and sub-assemblies from local vendor<br />
units. In its order, <strong>the</strong> government has advised <strong>the</strong> company to take up social infrastructure<br />
development projects in <strong>the</strong> vicinity of <strong>the</strong> proposed location of <strong>the</strong> unit. The company declined to state<br />
when <strong>the</strong> project work will be started or commissioned.<br />
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Intel Capital plans to boost auto research in India with $100 million fund<br />
Intel Capital, <strong>the</strong> venture arm of Intel, plans to support Indian entrepreneurs developing new<br />
technologies for cars with its new $100 million Connected Car Fund. Indian companies will benefit from<br />
this fund as <strong>the</strong>y are known for innovation, said Sudheer Kumar Kuppam, managing director, Asia<br />
Pacific, Intel Technology India Pvt. Ltd. “We anticipate that Indian companies will contribute to<br />
international chip designs that can augment <strong>the</strong> connected car business,” Kuppam said, adding that <strong>the</strong><br />
fund has already started scouting for investment opportunities in India.<br />
The Intel Capital Connected Car Fund, launched in Santa Clara, California, and Karlsruhe/Feldkirchen,<br />
Germany, will invest globally over <strong>the</strong> next four to five years in hardware, software and services<br />
companies to promote new in-vehicle applications and enable seamless connection between vehicles<br />
and any linked device, including mobile ones and sensors.<br />
“The car is <strong>the</strong> ultimate mobile device,” said Staci Palmer, general manager of Intel’s Automotive<br />
Solutions Division. “By 2014, automobiles will be among <strong>the</strong> top three fastest-growing areas for<br />
connected devices and Internet content.” Intel already has partnerships with leading car makers,<br />
including Hyundai Motor Co., KIA Motors, Toyota Motor Corp., BMW AG and a few Chinese<br />
manufacturers for using its technology.
T<strong>here</strong> is potentially a big market for new automobile technologies, said an April 2011 report by Cisco’s<br />
Internet Business Solutions Group (IBSG). If <strong>the</strong> automotive industry could build on what smartphones<br />
did for <strong>the</strong> phone industry, cars would become “personal digital assistants (PDAs) on wheels,” and could<br />
evolve into personal gadgets, outstripping smartphones or tablet PCs, according to <strong>the</strong> IBSG report.<br />
The advent of vehicle connectivity opens up completely new service and pricing options for automotive<br />
manufacturers with an estimated revenue potential of $680 per vehicle per year, IBSG said.<br />
The report cited a few examples of cars without drivers. In 2010, for instance, Google Inc. demonstrated<br />
a driverless Toyota Prius while an unmanned Audi climbed Pikes Peak Mountain in Colorado. Fiat,<br />
Volkswagen and Hyundai have evolved similar technologies, it said.<br />
The automobile electronics market is a large one globally, said Alok Mittal, managing director of Canaan<br />
Partners India, a technology focused venture capital fund. “India is a big market for such offerings and<br />
also has a big export potential. A local innovation could have a big gain,” Mittal said.<br />
Intel Capital, which invested $56 million across 17 transactions last year, is hopeful of striking a few new<br />
deals and making some exits this year. Multi Commodity Exchange of India Ltd (MCX), one of its<br />
portfolio firms in India, came up with its initial public offer recently. The fund isn’t exiting <strong>the</strong> exchange.<br />
“A few of our companies are in discussions for acquisitions,” said Kuppam, adding <strong>the</strong>re are investment<br />
opportunities in <strong>the</strong> cloud computing space, besides information technology for education and<br />
healthcare, software services and audio-video streaming platforms.<br />
However, high valuations of start-ups in India deter global investors, according to Kuppam. “With high<br />
valuations, returns potential goes down,” he said. “T<strong>here</strong> are 40 active venture capitalists in India and if<br />
you want to sustain <strong>the</strong>m, <strong>the</strong> market needs to generate better returns on exiting <strong>the</strong> portfolio.”<br />
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Monsanto opens Rs. 28 crore seed conditioning facility at Shamirpet<br />
Monsanto India has opened a hybrid seed vegetable conditioning unit at Shamirpet .The Rs 28-crore<br />
facility, built on 32 acres, deploys latest techniques in seed conditioning, treatment, drying and<br />
packaging.<br />
The facility has a capacity to condition and package 15 million units of seeds a year. The facility can store<br />
up to 200 tonnes of packed seeds under controlled temperature. “It is important to equip farmers to<br />
produce more in order to meet <strong>the</strong> demands of a growing economy,” Ms. Consuelo E. Madere, Vice-<br />
President (Global Vegetable and Asia Commercial) of Monsanto, said after <strong>the</strong> inauguration.<br />
“This will be an integrated unit for both vegetable and row crops, with 7 acres dedicated for vegetable<br />
plants and 25 acres for corn plants,” <strong>the</strong> Executive said. “This plant is aimed at making better quality<br />
seeds more easily accessible to farmers from <strong>the</strong> region. We will also be providing training on good<br />
agronomic practices and extension services to farmers,” said Mr. Amitabh Jaipuria, Managing Director of<br />
Monsanto.<br />
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Enterprise Mobile Apps Provider Andare Acquired by California based UST Global<br />
US-based enterprise mobile applications and CRM provider Andare has been acquired by UST Global, a<br />
major provider of services and solutions for Global 1000 and Fortune 500 enterprises. However, <strong>the</strong> deal<br />
value is not immediately known. The acquisition will enable UST to utilise Andare’s flagship enterprise<br />
mobility solution iDispatch.
UST Global is headquartered in California, and has operations in India with centres in Technopark,<br />
Trivandrum, and Infopark in Kochi and Bangalore.<br />
In an official statement, Sajan Pillai, CEO of UST Global, said, “With <strong>the</strong> acquisition of Andare’s iDispatch<br />
technology, we will be able to offer our clients unmatched enterprise mobile solutions to help enable<br />
major productivity gains in field service operations, and leverage <strong>the</strong> product platform to launch o<strong>the</strong>r<br />
enterprise mobile products. We believe this technology is a game-changer.”<br />
iDispatch is an enterprise mobility solution for <strong>the</strong> field services industry. It is a client-proven mobility<br />
solution which increases efficiency while reducing <strong>the</strong> costs associated with providing mobility to field<br />
technicians. It has various features – ranging from real-time service appointment scheduling,<br />
rescheduling and update notifications; management of time, expenses, parts, inventory and assets; realtime<br />
GPS locations of field service personnel for optimized dispatch management; full CRM integration,<br />
Apple Push Notifications and Google GPS Navigation Maps and many more.<br />
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GE acquires Vadodara-based engineering firm Advanced Systek<br />
General Electric Company (GE) has acquired controlling stake in <strong>the</strong> Vadodara-based terminal<br />
automation solutions provider Advanced Systek Pvt. Ltd for an undisclosed amount, <strong>the</strong> latter informed<br />
in a statement issued on Thursday.<br />
"We found an attractive growth prospect in selling <strong>the</strong> majority stake to <strong>the</strong> General Electric Company.<br />
The deal has been closed and GE would have controlling holding in Advanced Systek," said Mukesh<br />
Kapadia, promoter director of Advanced Systek.<br />
'The current shareholders and GE have entered into agreements pursuant to which <strong>the</strong> promoters of<br />
Advanced Systek would continue as directors in <strong>the</strong> combined entity and work with GE to grow <strong>the</strong><br />
current business,' Advanced Systek informed in <strong>the</strong> official statement.<br />
In its filing with <strong>the</strong> New York Stock Exchange (NYSE), GE informed that it agreed to acquire a majority<br />
stake in Indian engineering company Advanced Systek Pvt. Ltd. However, it did not reveal <strong>the</strong> size of <strong>the</strong><br />
stake it agreed to buy or <strong>the</strong> deal value.<br />
Advanced Systek controls nearly 60 per cent market share in <strong>the</strong> automation and flow-metering systems<br />
for <strong>the</strong> oil and gas sector. "We have been <strong>the</strong> market leader with over 60 per cent market share and<br />
with GE taking controlling stake, we can look for increased global presence," added Kapadia.<br />
GE, in its statement, informed, "This transaction enables <strong>the</strong> GE Oil & Gas business to broaden its<br />
offerings for <strong>the</strong> industry." Advanced Systek provides total solutions to customers, allowing <strong>the</strong>m to<br />
accurately measure, automate and control <strong>the</strong> distribution of <strong>the</strong>ir products from refineries to <strong>the</strong> end<br />
users.<br />
According to Kapadia, company has some of <strong>the</strong> noticeable clients including HPCL, BPCL, IOCL in India.<br />
"We have also strong customer base in Gujarat, w<strong>here</strong> we cater to refineries, ports, depots, rail wagon<br />
and port terminals at places like Kandla, Mundra, Rajkot and Ahmedabad," Kapadia said.<br />
Avendus Capital, and Shah Sanjeev & Associates from Vadodara were <strong>the</strong> financial advisors to Advanced<br />
Systek for this transaction. "This deal is an important milestone in <strong>the</strong> merger & acquisition space in<br />
India. This is a proof that Indian companies continue to attract global majors to achieve a common goal
of growth and progress," said Sanjeev Shah of Shah Sanjeev & Associates, a Vadodara-based M&A and<br />
corporate advisory services provider.<br />
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Chicago based Walton Street returns to Indian real estate, to put Rs. 100 crore in<br />
Noida project<br />
At a time when foreign private equity (PE) investors are a bit wary of <strong>the</strong> Indian property market,<br />
Chicago-based PE real estate investment firm Walton Street Capital is making a comeback. In its second<br />
India outing, Walton has planned to invest at least Rs. 100 crore in a Supertech project at Noida, near<br />
Delhi. Walton would get a 20 per cent stake in <strong>the</strong> residential towers of Supertech’s mixed use<br />
development project, Supernova.<br />
The total cost of <strong>the</strong> Supernova project is estimated at Rs 3,000 crore, while <strong>the</strong> cost of <strong>the</strong> residential<br />
towers, Nova East and Nova West, will be around Rs 500 crore. Walton's India arm had earlier planned<br />
to invest $1 billion (around Rs 5,000 crore) in <strong>the</strong> country's real estate sector, but <strong>the</strong> plan was shelved<br />
due to <strong>the</strong> global economic crisis. Now, <strong>the</strong>re is talk of <strong>the</strong> company reviving its plans.<br />
Walton had for <strong>the</strong> first time entered India in 2007, investing Rs. 100 crore in a Kolkata project of<br />
Shriram Properties, <strong>the</strong> Chennai-based realtor. It had also taken stake of 33 per cent in a special purpose<br />
vehicle of <strong>the</strong> Kolkata project, while Starwood Capital had invested ano<strong>the</strong>r 33 per cent. However, <strong>the</strong><br />
project failed to take off and in 2011, Walton and Starwood got enterprise-level stakes in Shriram<br />
Properties.<br />
Supertech’s chairman and managing director, R. K. Arora, confirmed <strong>the</strong>y had got a letter of intent from<br />
Walton and documentation was in process. Walton did not respond to a questionnaire sent by Business<br />
Standard on <strong>the</strong> matter. Supertech has also struck a franchise deal with Starwood Hotels and Resorts for<br />
a Le Meridien Hotel in <strong>the</strong> same mixed use development project. “Starwood is not investing in <strong>the</strong><br />
project, but will run <strong>the</strong> hotel with its management team,” said Arora.<br />
Morgan Stanley Real Estate Investment is also learnt to be investing Rs 500 crore in ano<strong>the</strong>r Supertech<br />
project in Noida, called Cape Town. The firm is expected to take 20 per cent in <strong>the</strong> entire project. Only<br />
last month, Morgan Stanley revived its investment in <strong>the</strong> country after a four-year hiatus, by investing<br />
nearly Rs. 450 crore in a Mumbai-based project.<br />
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Boeing's MRO to become operational by Q2 next year<br />
With <strong>the</strong> much-delayed Dreamliner having finally landed and ready for induction into Air India's fleet,<br />
Boeing is all set to complete its o<strong>the</strong>r delayed project — its MRO facility at Nagpur.<br />
The construction of <strong>the</strong> $100-million project will be complete by December 2012. “We expect to get <strong>the</strong><br />
DGCA certification <strong>the</strong>reafter and operationalize it by <strong>the</strong> second quarter of 2013”, said Mr. Dinesh A.<br />
Keskar, President, Boeing India.<br />
The Maintenance, Repair, Overhaul (MRO) facility at <strong>the</strong> Mihan-SEZ, was slightly delayed due to<br />
problems of land acquisition. Boeing got possession of <strong>the</strong> 50-acre land two years ago. It started<br />
construction work on <strong>the</strong> two hangars in January 2011. More than half of <strong>the</strong> work has been completed<br />
at <strong>the</strong> greenfield project, he told.<br />
The MRO is <strong>the</strong> result of Boeing's commitment when Air India purchased 68 aircraft from <strong>the</strong> aircraft<br />
major in 2005-06. The facility will carry out checks and maintenance of Boeing 777 and 737 aircraft
with <strong>the</strong> Indian carrier. In addition to meeting <strong>the</strong> needs of Air India, <strong>the</strong> facility will also have <strong>the</strong><br />
capacity to take care of <strong>the</strong> needs of regional airlines.<br />
R&D Centre<br />
Boeing is also ramping up its capabilities in <strong>the</strong> R&D Centre in Bangalore. At present about 30<br />
professionals are working in three major areas — materials, computational fluid dynamics and network<br />
systems. “We will add good numbers in <strong>the</strong> next one year”, he said.<br />
The model is partnership work. The Centre is working with <strong>the</strong> IITs, National Aerospace Laboratory and<br />
Indian Institute of Sciences at Bangalore, on some frontline projects.<br />
One interesting initiative is <strong>the</strong> work on RFID, which has several applications in <strong>the</strong> civilian aircraft<br />
industry, Mr. Keskar said.<br />
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GE to open validation lab in Bangalore<br />
The <strong>American</strong> conglomerate GE announced launch of a state-of-<strong>the</strong>-art validation laboratory in<br />
Bangalore which will support repair and calibration of Kaye range of products designed to meet<br />
industrial requirements.<br />
The lab which has a capability to calibrate temperatures to an accuracy of 0.005° C will meet vital<br />
requirements of pharmaceutical and life science industries, a company statement said <strong>here</strong>. GE's<br />
measurement and control business is a leading innovator in sensor-based measurement, inspection,<br />
asset condition monitoring, controls and radiation measurement solutions to a wide range of industries<br />
including oil and gas, power generation, aerospace, transportation and healthcare.<br />
"The new lab supports GE's 'In Country, for Country' strategy to build on capabilities and resources<br />
within India," GE regional general manager for measurement and control division Ashish Bhandari said.<br />
The lab will also help reduce turnaround time for customers from three months to just one week, he<br />
said.<br />
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Ford lays foundation for $1 billion India factory<br />
Ford Motor Co. says it laid <strong>the</strong> cornerstone for a new billion dollar factory in India. The plant will have<br />
<strong>the</strong> capacity to manufacture 240,000 cars and 270,000 engines a year when it's complete in 2014. The<br />
factory will produce cars for domestic consumers and for export.<br />
Ford's move to expand its India business comes amid slowing car sales in India. So far during <strong>the</strong> fiscal<br />
year ending in March, car sales have crept up 0.3 percent, against <strong>the</strong> previous year's 29.5 percent<br />
surge.<br />
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Warburg Pincus & IFC invest $50 million in AU Financiers<br />
AU Financiers (India) Pvt. Ltd announced on Monday that U.S.-based private equity firm Warburg Pincus<br />
and World Bank affiliate International Finance Corp have invested $50 million in <strong>the</strong> non-banking<br />
finance company.<br />
The investment will be primarily used to fund future growth of <strong>the</strong> Jaipur-based company and will also<br />
provide some liquidity to early investors, according to a press statement released by AU Financiers.
IFC, which is an existing investor in <strong>the</strong> company, will maintain its current stake, post-infusion. However,<br />
<strong>the</strong> statement did not disclose <strong>the</strong> stake picked up by Warburg Pincus. "The current round led by<br />
Warburg Pincus is <strong>the</strong> single largest equity infusion in <strong>the</strong> company which would double our net worth,"<br />
Sanjay Agarwal, founder and managing director, AU Financiers was quoted as saying.<br />
The company, which also counts Motilal Oswal as one of its institutional investors, has also made a<br />
concerted foray in to <strong>the</strong> housing finance market, largely in Rajasthan and a few o<strong>the</strong>r markets w<strong>here</strong> it<br />
has a presence.<br />
In a previous round of equity funding in 2010, AU Financiers had reportedly raised Rs 55 crore from IFC<br />
and Motilal Oswal's India Business Excellence Fund (IBEF). Global consultancy major Ernst & Young was<br />
<strong>the</strong> sole financial advisor for <strong>the</strong> transaction.<br />
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Morgan Stanley invests $90 million in Mumbai project<br />
Morgan Stanley Real Estate Investing, or MSREI, has invested about $90 million (around Rs. 450 crore) in<br />
a project of Sheth Developers Pvt. Ltd primarily to help <strong>the</strong> real estate firm refinance debt it had taken<br />
to buy land in Mumbai, said two people familiar with <strong>the</strong> development.<br />
A large residential development is coming up on <strong>the</strong> 18-acre land in suburban Andheri area. Sheth had<br />
bought <strong>the</strong> land from Borosil Glass Works for about Rs.875 crore in 2010.<br />
The Sheth transaction is significant for Morgan Stanley, which hadn’t invested in India since November<br />
2007 after it put in about $130 million in Pune-based developer Panchshil Realty.<br />
Overall, Morgan Stanley has invested around $840 million across 10 deals in India so far.<br />
“The Morgan Stanley-Sheth transaction was done in a part-equity, part-debt kind of investment<br />
arrangement,” said one of <strong>the</strong> two persons mentioned above. “The Borosil land project is coming up<br />
well and sales have been strong. The project will be developed in phases, totally generating revenues of<br />
about Rs.3, 500 crore over a period of four years.”<br />
Text messages sent to senior officials in Sheth Developers were not answered. Private equity (PE) funds<br />
are increasingly bailing out real estate developers from tight situations, including on payments for<br />
expensive land purchases, repayments and refinancing of debt, besides financing project development,<br />
said real estate analysts.<br />
Several developers, especially in Mumbai and <strong>the</strong> Delhi-National Capital Region, are looking to raise<br />
capital from PE funds for individual projects to reduce <strong>the</strong> debt component in <strong>the</strong> project cost.<br />
Bangalore-based RMZ Corp. raised $100 million from Baring Private Equity Partners this year through a<br />
special purpose vehicle (SPV) designed to acquire properties. RMZ has already used a part of <strong>the</strong><br />
investment to acquire an office space project of 6 million sq ft. in <strong>the</strong> city. Raj Menda, managing director<br />
of RMZ, one of <strong>the</strong> largest office space developers in <strong>the</strong> country, said <strong>the</strong> SPV structure helps because it<br />
can receive funding from more than one PE fund. A spokesperson for Baring Private Equity declined to<br />
comment.<br />
In ano<strong>the</strong>r transaction, in February, Kotak Realty Fund invested Rs.150 crore in an SPV to help Sunteck<br />
Realty Ltd buy land in suburban Mumbai, again in a structured combination of debt and equity. The<br />
money helped <strong>the</strong> developer buy a 16-acre land parcel for Rs.300 crore.
The real estate sector is experiencing a round of consolidation, with investors keeping a close eye on <strong>the</strong><br />
kind of assets <strong>the</strong>y are funding, said Rajiv Sahni, partner (real estate practice), Ernst and Young, a<br />
consultancy. “Only if <strong>the</strong>y feel secure about <strong>the</strong> asset quality are <strong>the</strong>y committing to <strong>the</strong>m,” he said.<br />
In 2011, PE funds and non-banking financial companies (NBFCs) toge<strong>the</strong>r invested $1.43 billion in India’s<br />
real estate sector, according to VCCEdge, a research firm that tracks investments. In 2010, PE funds and<br />
NBFCs invested $1.3 billion in <strong>the</strong> sector.<br />
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DHL to expand air capacity, invest in warehouses<br />
The express and logistics company DHL, with over 40 per cent market share, plans to expand its air<br />
capacity and invest in warehousing capacity.<br />
The domestic logistics industry is in flux because of <strong>the</strong> regulatory environment, infrastructure<br />
challenges, investment regime and increase in demand. The total Express business market in <strong>the</strong> country<br />
is worth about $700-800 million with an estimated industry growth at 15-16 per cent.<br />
“We aim to grow at least two per cent ahead of <strong>the</strong> market. To achieve this growth in India, our focus<br />
will be around key areas such as investments in air capacity, facilities, improving our service quality<br />
touch points, distribution with a focused reach and industry specific product innovations. One of <strong>the</strong> key<br />
focus areas of growth is SMEs,” said Mr. R.S. Subramanian, Country Manager, DHL Express, India.<br />
SME manufacturers account for 45 per cent of total manufacturing output and contribute over 40 per<br />
cent to <strong>the</strong> total merchandise exports by value. The sector is growing in importance and SME clusters<br />
across <strong>the</strong> country, especially in Tier-II and Tier-III cities, are playing a key role in <strong>the</strong> country's<br />
manufacturing growth as well as international trade. DHL will be hosting a road show with SMEs to<br />
understand <strong>the</strong> need and provide a platform for SMEs to consult market leaders on what can propel<br />
business growth, Mr. Subramanian said. As part of its expansion plans, DHL will be expanding its air<br />
capacity in o<strong>the</strong>r cities. In October last year, DHL launched a Boeing 777F freighter service between<br />
Bangalore and Leipzig, in response to <strong>the</strong> growing air cargo demand into and out of South India.<br />
Among o<strong>the</strong>r plans, DHL will construct its second free trade warehousing zone (FTWZ) in Mumbai and a<br />
third in Delhi, shortly. In 2010, DHL Global Forwarding launched its first FTWZ in Sriperumbudur, near<br />
Chennai. DHL invested $10 million in <strong>the</strong> zone, which offers clients warehousing palletized, nonpalletized,<br />
cold storage, odd dimension and handling of special and sensitive cargo.<br />
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JP Morgan’s Infra Fund Raises over $95M for India 'Sidecar' Vehicle<br />
JP Morgan Asset Management, <strong>the</strong> global investment and wealth management firm, has raised over $95<br />
million commitment for an India-specific ‘sidecar’ fund. The sidecar fund, an over-allocation pool giving<br />
<strong>the</strong> fund manager an opportunity to invest in larger deal opportunities, is being raised for JP Morgan’s<br />
Asian infrastructure fund.<br />
A report in Pension & Investments states that <strong>the</strong> State of Michigan Retirement Systems has committed<br />
$70 million to <strong>the</strong> fund, which is invested in two toll roads in India. The investment is part of <strong>the</strong> overall<br />
$1.685 billion commitments made by Michigan Retirement Systems to funds of Apax Partners,<br />
Par<strong>the</strong>non Group, Credit Suisse and o<strong>the</strong>rs.<br />
In its filing to <strong>the</strong> U.S. Securities and Exchange Commission in November last year, <strong>the</strong> company stated<br />
that JPMorgan AIRRO India SideCar Fund US, LLC raised $95 million from two investors. However, it<br />
cannot be ascertained if any o<strong>the</strong>r sidecar fund has been floated since. Arizona Public Safety Personnel
Retirement System is ano<strong>the</strong>r investor in <strong>the</strong> sidecar fund and has put in $25 million. Ontario Securities<br />
Commission, a provincial regulatory agency in Canada, has also said in its filing that an investor has<br />
committed over $10 million to <strong>the</strong> fund.<br />
According to VCCEdge, JP Morgan has invested in Hyderabad-based Soma Group’s highway projects unit<br />
and Nandi Infrastructure Corridor Enterprises Ltd (NICE). NICE, which is developing <strong>the</strong> 164 km tollway<br />
between Bangalore and Mysore, raised $110 million in December 2010 while Soma raised a similar<br />
amount in September last year.<br />
It had also reportedly invested $400 million in Nikhil Gandhi-promoted SKIL Infrastructure, which<br />
controls ship-builder Pipavav Defense and <strong>Of</strong>fshore Engineering Ltd.<br />
JP Morgan’s Asian Infrastructure & Related Resources Opportunity (AIRRO) Fund closed at $858.6<br />
million in February 2010. The fund received commitments from investors, including institutional ones<br />
and high-net worth individuals, from <strong>the</strong> USA, Canada, Europe, Asia, Australia and <strong>the</strong> Middle East.<br />
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US-based Walton Street Capital Scripting India Specific Realty Fund<br />
Chicago-based real estate focused private equity fund Walton Street Capital LLC has revived plans to<br />
raise its first India specific real estate fund, two sources privy to <strong>the</strong> development told.<br />
The amount being targeted to be raised in <strong>the</strong> new fund could not be immediately ascertained. But, in<br />
August 2008, Walton Street's India arm had planned to raise a $1 billion fund to invest in <strong>the</strong> country’s<br />
real estate market. It was expecting to close <strong>the</strong> fund by March 2009. It would have been Walton<br />
Street’s first India-focused fund and aimed to invest in <strong>the</strong> affordable housing segment- one of <strong>the</strong><br />
hottest residential property category in 2008. After <strong>the</strong> global meltdown its plans were cocooned and<br />
<strong>the</strong> fund never took off.<br />
A slew of o<strong>the</strong>r realty funds have been looking to raise India-focused funds worth $500 million and <strong>the</strong><br />
proposed fund from Walton could be in <strong>the</strong> same league. One of <strong>the</strong> persons close to <strong>the</strong> development<br />
said, “Walton is already out in <strong>the</strong> market trying to raise <strong>the</strong> fund.”<br />
Walton Street’s first investment in <strong>the</strong> country was in a Kolkata-based project of Shriram Properties<br />
called Shriram Hi-Tech in 2007. It had picked 33 per cent stake for Rs 100 crore with a similar investment<br />
coming from ano<strong>the</strong>r US-based private equity firm Starwood Capital in <strong>the</strong> project. Even after five years<br />
of investment <strong>the</strong> project has failed to take off and last year, <strong>the</strong> project level investment was swapped<br />
by both PE players for an enterprise level stake in <strong>the</strong> company Shriram Properties. The realty focused<br />
fund has investment in <strong>the</strong> US, Mexico and India.<br />
Apart from <strong>the</strong> private equity fund’s presence in <strong>the</strong> country, a consortium of senior real estate<br />
executives in <strong>the</strong> United States, most of whom are principals of Walton Street Capital, LLC back a<br />
Bangalore-based professional project management firm called Fusion India Project Management.<br />
According to its website, since starting in 1994, affiliates of Walton Street Capital have received total<br />
equity commitments of $5.7 billion from public and corporate pension plans, foreign institutions,<br />
insurance companies and banks, endowments and foundations, trusts and high net worth individuals.<br />
Affiliates of Walton Street Capital have invested and/or committed to invest approximately $4.5 billion<br />
of equity in approximately 180 separate transactions.<br />
A slew of Indian real estate-focused private equity firms are gearing up to raise close to $5.3 billion,<br />
ei<strong>the</strong>r in fresh funds or in follow-up funds, according to VCCircle estimates. This suggests a revival of<br />
fundraising plans by investment firms who lay quiet after <strong>the</strong> slowdown hit <strong>the</strong> realty market in 2008.
However, analysts say that in spite of many successful exits recently, <strong>the</strong> going would be tough for fresh<br />
fundraising and only about a quarter of <strong>the</strong> estimated amount would make it from <strong>the</strong> drawing boards.<br />
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In <strong>the</strong> News:<br />
Foreign direct investment norms for Indians relaxed<br />
The Reserve Bank of India (RBI) on Wednesday announced a slew of revisions aimed at liberalizing <strong>the</strong><br />
norms for direct investment abroad by Indian residents. These include liberalization in regulations on<br />
qualification shares, professional services rendered and Esop (employee stock option plan) schemes.<br />
The central bank has removed <strong>the</strong> cap of one per cent on resident individuals acquiring qualification<br />
shares for holding <strong>the</strong> post of a director in a foreign company. “Accordingly, remittance shall be allowed<br />
from resident individuals for acquiring <strong>the</strong> qualification shares for holding <strong>the</strong> post of a director in a<br />
foreign company to <strong>the</strong> extent prescribed in <strong>the</strong> law of <strong>the</strong> host country w<strong>here</strong> it is located,” said <strong>the</strong> RBI<br />
notification.<br />
It has also decided to grant general permission to resident individuals to acquire shares of a foreign<br />
entity in part or full consideration for professional services rendered to <strong>the</strong> foreign company or in lieu of<br />
a director’s remuneration.<br />
And, Indian resident employees or directors have been permitted to accept shares offered under an<br />
Esop scheme globally, on a uniform basis, in a foreign company irrespective of <strong>the</strong> percentage of <strong>the</strong><br />
direct or indirect equity stake. Earlier, <strong>the</strong> facility was subject to equity holding of not less than 51 per<br />
cent.<br />
However, shares under <strong>the</strong> Esop scheme should be offered by <strong>the</strong> issuing company globally on a uniform<br />
basis and <strong>the</strong> annual return filed by <strong>the</strong> Indian company to RBI through <strong>the</strong> authorized dealer category- I<br />
bank, giving details of remittances and beneficiaries.<br />
RBI also announced several modifications to ease <strong>the</strong> process of direct investments abroad. “It has been<br />
decided that issuance of personal guarantee by <strong>the</strong> promoters of <strong>the</strong> Indian party as presently allowed<br />
under <strong>the</strong> general permission shall also be extended to <strong>the</strong> indirect resident individual promoters of <strong>the</strong><br />
Indian party, with <strong>the</strong> same stipulations as in <strong>the</strong> case of personal guarantee by <strong>the</strong> direct promoters,” it<br />
said.<br />
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Indian-<strong>American</strong> journalist wins White House Correspondents journalism award<br />
Indian—<strong>American</strong> journalist Manu Raju, 32, is one of <strong>the</strong> winners of <strong>the</strong> White House Correspondents<br />
Journalism Award for 2012. Raju was named <strong>the</strong> winner of <strong>the</strong> Merriman Smith Award for Excellence in<br />
Presidential Coverage under pressure in <strong>the</strong> print category along with colleagues Glenn Thrush, Carrie<br />
Budoff Brown and John Bresnahan at Politico, an influential Washington news site focusing on<br />
presidential politics.
Raju was in <strong>the</strong> limelight in 1999 when a streaker dashed across <strong>the</strong> University of Wisconsin's football<br />
stadium, said Politico."I landed <strong>the</strong> first interview with <strong>the</strong> Wisconsin student who streaked <strong>the</strong> field in<br />
<strong>the</strong> nude - <strong>the</strong> moment after Ron Dayne broke <strong>the</strong> all-time NCAA rushing record before a crowd of some<br />
80,000 screaming fans at Camp Randall Stadium," said Raju in an email. "Conveniently, <strong>the</strong> streaker is<br />
one of my buddies, so he granted me <strong>the</strong> first interview just as he became a campus legend."<br />
After graduating, Raju worked for a short period in broadcasting at <strong>the</strong> NBC affiliate in Madison,<br />
Wisconsin, on <strong>the</strong> assignment desk. Raju has been a reporter in Washington for 10 years, and wrote for<br />
The Hill, Congressional Quarterly and Inside Washington Publishers before joining Politico. He, along<br />
with wife, Archana, lives in upper Northwest Washington. A native of Chicago area, Raju is "a die-hard"<br />
Cubs, Bears and Bulls fan.<br />
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Intel enters smartphone market in India with Xolo<br />
At last, <strong>the</strong>re is 'Intel Inside' in a smartphone. Intel entered <strong>the</strong> smartphone market on Thursday,<br />
launching Xolo X900 in partnership with India's Lava Mobiles. The company, dubbed 'chipzill', makes<br />
processors that power over 80% computers in <strong>the</strong> world.<br />
Xolo X900 is <strong>the</strong> world's first Android phone powered by an Intel processor and represents <strong>the</strong> chip<br />
manufacturer's first attempt to take on ARM Holdings, a British firm that makes technology, powering<br />
virtually all smartphone and tablets in <strong>the</strong> world. The launch of Xolo X900 is a significant moment for<br />
both Lava and Intel. While Lava, which is better known for its budget phones, is trying to enter <strong>the</strong><br />
premium segment, for Intel it's <strong>the</strong> beginning of <strong>the</strong> company's new future w<strong>here</strong> traditional computers<br />
may not matter much. "The boundaries of personal computing are expanding. Xolo X900 showcases rich<br />
capabilities of Intel computing and highlights possibilities of what's still to come," said Mike Bell, Intel's<br />
corporate V-P.<br />
The Xolo X900 is based on Intel's reference design and features Atom processor (Z2460) running at 1.6<br />
GHz. It will be available in <strong>the</strong> market from April 23 at ₨ 22,000. "We know that we can't be big<br />
overnight but we believe that in Xolo X900 we have a smartphone that is faster compared to <strong>the</strong><br />
competition due to Intel processor," said Vishal Sehgal, director of Lava International. Lower-priced Xolo<br />
phones would come in future and Xolo owners will get premium support, including onsite warranty, a<br />
first for phones in India, Sehgal added.<br />
Despite smartphones and tablets becoming a force to reckon with, so far Intel has failed to get a<br />
foothold in <strong>the</strong> market. Patrick Moorhead, who recently started his consulting firm Moor Insights &
Strategy after decade-long stint with AMD, Intel's lead rival, said <strong>the</strong> 'chipzilla' has a good chance of<br />
success.<br />
"I believe Intel can attain at least 10-20% unit share in smartphones and 50% unit share in tablets<br />
costing $299 and above by 2014," said Moorhead. "Medfield (<strong>the</strong> processor that powers Xolo X900) is<br />
very competitive on delivering a good experience at low power and will get even more competitive as<br />
Intel moves to 22nm and new architectures. At 14nm, <strong>the</strong> company will be a force to reckon with."<br />
Traditionally, Intel has held a massive advantage in manufacturing of silicon chip and has used it to <strong>the</strong><br />
good effect in traditional computer market. This is something Prashanth Adiraju, director for new<br />
platforms at Intel (South Asia) highlighted. "Unlike competition (read ARM) we design, optimize and<br />
manufacture <strong>the</strong> complete chip. This is our competitive advantage," he said.<br />
The world of technology is in state of flux. Last year, Microsoft had announced that Windows 8 would<br />
run on ARM processors, ending <strong>the</strong> decades-old Microsoft-Intel partnership, often dubbed Wintel by<br />
analysts. On <strong>the</strong> same day, Intel announced it would partner with Google to bring Android to X86<br />
platforms, something that set in motion <strong>the</strong> process which led to <strong>the</strong> launch of Xolo X900.<br />
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Ambassador Nirupama Rao meets House Foreign Relations Committee Chair Ileana<br />
Ros-Lehtinen<br />
Ambassador Nirupama Rao met Chairman of <strong>the</strong> House Foreign Relations Committee, Congresswoman<br />
Ileana Ros-Lehtinen from Florida on April 17, 2012 at Capitol Hill in Washington D.C. She is <strong>the</strong> seniormost<br />
House Republican woman presently in <strong>the</strong> U.S. Congress.<br />
Ambassador Rao and Congresswoman Ros-Lehtinen discussed <strong>the</strong> present state of India-U.S. relations,<br />
and <strong>the</strong> global strategic partnership between <strong>the</strong> two countries. Ambassador Rao informed <strong>the</strong><br />
Congresswoman about <strong>the</strong> recent developments in <strong>the</strong> relationship and India’s perspective on regional<br />
and global issues of common interest. Congresswoman Ros-Lehtinen spoke of shared values and<br />
complementarities between India and <strong>the</strong> U.S. and <strong>the</strong> broad spectrum of opportunities, including in <strong>the</strong><br />
economic sector, for <strong>the</strong> two countries to collaborate.<br />
Ambassador Rao also gave an overview of trade and business ties between India and <strong>the</strong> US and <strong>the</strong><br />
bright prospects for business and economic cooperation that existed in <strong>the</strong> partnership. Ambassador<br />
Rao expressed her deep appreciation of <strong>the</strong> commitment expressed within <strong>the</strong> US Congress to build a<br />
stronger and even more substantive US-India relationship.
Their discussion also included <strong>the</strong> regional situation in India's neighborhood. Congresswoman Ros-<br />
Lehtinen welcomed India’s positive contribution to Afghanistan’s reconstruction and viewed U.S.-India<br />
partnership as having an important role in contributing to Afghanistan’s progress and wellbeing.<br />
Congresswoman Ros-Lehtinen invited Ambassador Rao to visit Florida, and conveyed her interest in<br />
continuing to remain in touch with Ambassador Rao.<br />
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US corporates preparing 'agenda for progress' for UP<br />
India-focused <strong>American</strong> companies are developing <strong>the</strong> "agenda for progress" for Uttar Pradesh with <strong>the</strong><br />
objective of its all-inclusive and dynamic growth, <strong>the</strong> US India Business Council (USIBC) has said. The<br />
"agenda for progress", tailored made for <strong>the</strong> state, is being prepared at <strong>the</strong> request of Uttar Pradesh<br />
chief minister Akhilesh Yadav.<br />
It would be developed within <strong>the</strong> first 100 days of <strong>the</strong> Samajwadi Party government in Uttar Pradesh by<br />
USIBC, which is <strong>the</strong> apex body of <strong>American</strong> companies doing business in India. "Once Yadav fine tunes<br />
<strong>the</strong> agenda, USIBC will launch a major high-level executive mission to Uttar Pradesh to begin<br />
implementation," USIBC president Ron Somers said.<br />
"I look forward to working with this forward-thinking chief minister to help achieve his goal of creating<br />
jobs and prosperity for <strong>the</strong> people of this great state," said Somers, who had met Yadav within <strong>the</strong> very<br />
first week of him taking over as <strong>the</strong> chief minister. Somers said he discussed <strong>the</strong> development priorities<br />
for <strong>the</strong> state, w<strong>here</strong> <strong>American</strong> investment would be welcome.<br />
These areas include farming best practices; agricultural development, food processing, water<br />
development for drinking, irrigation, and treatment; connectivity - including by air, by roads, and via <strong>the</strong><br />
internet.<br />
O<strong>the</strong>r areas include health care development, vocational skills development; manufacturing - with an<br />
emphasis on Job creation and energy and power development. "<strong>American</strong> companies are keen to invest<br />
in all <strong>the</strong>se sectors - so long as <strong>the</strong> business environment is welcoming," he said.<br />
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U.S. Schools Want a Part of <strong>the</strong> Huge Indian Education Market<br />
As India takes small steps toward overhauling its lumbering higher-education system, U.S. colleges and<br />
universities want a part of <strong>the</strong> action. Until now, U.S. involvement in <strong>the</strong> Indian higher-education system<br />
has been limited to a largely advisory role. But now a new chapter is being written and <strong>the</strong> authors are<br />
<strong>the</strong> Obama and Singh administrations.<br />
U.S. universities are looking for new markets and new students. Indian officials, faced with surging<br />
domestic demand for high-quality, university-level training, say <strong>the</strong>ir current higher-education system<br />
needs massive revamping and upgrading to prepare its population to compete effectively in <strong>the</strong> global<br />
economy.<br />
U.S. Secretary of State Hillary Clinton and India's Minister of Human Resource Development Kapil Sibal<br />
launched a higher-education partnership late last year in Washington.<br />
U.S. institutions have begun working to capitalize on this new era, with universities such as Purdue,<br />
Michigan State, Pennsylvania State, Illinois, Stanford, Harvard, MIT, Rutgers and <strong>the</strong> New Jersey Institute<br />
of Technology (NJIT) setting up joint-degree and student-exchange programs or planning for <strong>the</strong>m.<br />
<strong>American</strong>s are looking to partner with willing Indian counterparts. The internet is providing <strong>the</strong><br />
technological backdrop for such budding collaborations as university officials in both countries use <strong>the</strong>
web to provide long-distance education. T<strong>here</strong>'s also some interest in <strong>the</strong> United States to build entire<br />
campuses in India, though officials say that is ra<strong>the</strong>r muted at this moment.<br />
The Obama administration is providing a total of $250,000 in grants initially to U.S. institutions<br />
interested in sending representatives to India to lay <strong>the</strong> groundwork for substantive partnerships. The<br />
administration hopes <strong>the</strong> U.S.-India higher-education partnership will eventually streng<strong>the</strong>n into a $10<br />
million effort, provided <strong>the</strong> U.S. Congress approves of <strong>the</strong> expenditure.<br />
Meanwhile, two universities from New Jersey, a state with a heavy Indian expatriate population, are<br />
hoping to become pioneers who lead <strong>the</strong> rest into <strong>the</strong> new <strong>Indo</strong>-U.S. higher education frontier.<br />
Rutgers University began working on a joint program with <strong>the</strong> Tata Institute of Social Sciences in<br />
Mumbai more than a year ago. David Finegold, a Rutgers vice president, said faculty members from his<br />
university are working with Tata researchers to help India effectively educate more of its college-age<br />
citizens and move beyond churning out a relatively small number of highly trained, English-speaking<br />
graduates proficient in high-tech fields.<br />
Rutgers faculty are also helping Indian officials plan for a national vocational university to train students<br />
for blue-collar careers. NJIT is in <strong>the</strong> early stages of establishing a focused master's level program for <strong>the</strong><br />
employees of one global technology company begun by an Indian expatriate - a different model than <strong>the</strong><br />
inter-university links envisioned under <strong>the</strong> U.S.-India higher education partnership.<br />
The NJIT program, set to begin this spring, will offer a 12-credit graduate program to <strong>the</strong> employees of<br />
<strong>the</strong> NeST Group in Kochi and Thiruvananthapuram. NeST founder Javad Hassan said that his employees<br />
will receive <strong>the</strong> same rigorous education that students at NJIT's Newark campuses receive.<br />
The NJIT program marks a different experiment, one that bypasses <strong>the</strong> governments of India and <strong>the</strong><br />
United States. Hassan said <strong>the</strong>re may be no need for government involvement given <strong>the</strong> technological<br />
linkages already present between <strong>the</strong> two countries.<br />
The NJIT program, he added, is designed to teach his employees not just advanced technical skills but<br />
also soft skills such as <strong>the</strong> ability to communicate effectively and work collaboratively across cultures.<br />
Those soft skills are increasingly valuable - and something U.S. universities are uniquely equipped to<br />
teach Indian students, according to Sam Pitroda, an adviser to Indian Prime Minister Manmohan Singh.<br />
Speaking at a conference on <strong>the</strong> Indian higher education system organized by Penn State last October,<br />
Pitroda outlined a litany of problems that <strong>the</strong> Indian government is trying to address within <strong>the</strong> next few<br />
years:<br />
• Raising <strong>the</strong> quality of instruction at Indian institutions;<br />
• Promoting world-class research by Indian faculty members;<br />
• Getting professors to teach students to be creative problem solvers ra<strong>the</strong>r than stressing rote<br />
memorization of facts and figures;<br />
• Making it possible for more of India's poor to gain higher education.<br />
"We believe <strong>the</strong> next three to five years are going to be critical for us to focus on expansion, excellent<br />
and equity," Pitroda told <strong>the</strong> U.S. university officials in attendance, seeking <strong>the</strong>ir help. "We need to<br />
really design better models for cooperation. We need to link universities <strong>here</strong> to universities <strong>the</strong>re, not<br />
only to top-tier, but also second-tier and third-tier cities."<br />
But Pitroda also pressed for prompt action from <strong>the</strong> U.S. side. "We need concrete programs," he said.<br />
"O<strong>the</strong>rwise we'll have more conferences like this and won't be able to translate programs (into)<br />
execution."
India is seen as an economic competitor to <strong>the</strong> United States. Members of <strong>the</strong> U.S. Congress routinely<br />
point to <strong>the</strong> number of high-tech graduates being produced by China and India to sound warnings that<br />
<strong>the</strong> U.S. risks losing its technical leadership unless more <strong>American</strong> students pursue math, science and<br />
engineering careers.<br />
However, <strong>the</strong> reality is higher education is India is uneven, as Indian officials have stressed to <strong>the</strong>ir U.S.<br />
counterparts.<br />
Apart from a few elite institutions, <strong>the</strong> vast majority of colleges and universities churn out graduates<br />
who lack <strong>the</strong> sought-after skills of problem solving and abstract analysis, according to a recent World<br />
Bank survey of Indian employers. The skills that <strong>the</strong> graduates possess in abundance - <strong>the</strong> ability to<br />
memorize facts and figures - is less valuable than <strong>the</strong> higher-order skills in today's global workplace,<br />
World Bank economist Andreas Blom told attendees at <strong>the</strong> Penn State conference.<br />
It is to develop a higher-education system that will produce graduates equipped with higher-order skills<br />
that <strong>the</strong> Indian government is turning to <strong>the</strong> U.S. for help.<br />
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US firms finding ways to move ahead on civil nuclear deal with India<br />
<strong>American</strong> companies are now finding ways to move ahead on commercial negotiations with India on<br />
<strong>the</strong> civilian nuclear deal, a top Obama Administration official said on Wednesday.<br />
"On <strong>the</strong> civil nuclear deal, we are pleased US companies are finding ways to move ahead with<br />
commercial negotiations," Assistant Secretary of State for South and Central Asia Robert Blake<br />
lawmakers at a Congressional hearing.<br />
Blake's remarks in his testimony before House Committee on Foreign Affairs Sub Committee on <strong>the</strong><br />
Middle East and South Asia came immediately after a key <strong>American</strong> Congressman raised concerns over<br />
<strong>the</strong> non-implementation of <strong>the</strong> civil nuclear deal. The historic civil nuclear deal has not been<br />
implemented, said Congressman Steve Chabot, Chairman of <strong>the</strong> Sub-Committee.<br />
"To date <strong>the</strong> US-India Civil Nuclear Agreement hasn't met <strong>the</strong> US commercial expectations due to <strong>the</strong><br />
nuclear liability law passed by <strong>the</strong> Indian Parliament which essentially shuts-out US companies," he<br />
said.<br />
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U.S wants India to lift import ban on dairy products<br />
The US has sought to impress upon India to lift <strong>the</strong> ban on <strong>American</strong> poultry products, arguing that <strong>the</strong>y<br />
do not pose a human health risk as is being asserted by India.<br />
“The United States maintains that <strong>the</strong> presence of Para tuberculosis in dairy products does not pose a<br />
human health risk, and India should not make elimination of this bacterium a condition for issuing a<br />
sanitary export certificate for US dairy products,” <strong>the</strong> US Trade Representatives (USTR) has said in a<br />
report.<br />
Since 2003, it said, India has imposed unwarranted SPS (Sanitary and Phytosanitary) requirements on<br />
dairy imports, which have essentially precluded US access to India’s dairy market, one of <strong>the</strong> largest in<br />
<strong>the</strong> world.For example, India requires <strong>the</strong> US Government to certify that any US-origin milk destined for<br />
India has been treated to ensure <strong>the</strong> destruction of Para tuberculosis, which according to India, is linked<br />
to Crohn’s Disease.
“Despite repeated requests from <strong>the</strong> United States, India has not provided scientific evidence to<br />
substantiate this assertion, and has declined to take into account evidence to <strong>the</strong> contrary submitted by<br />
<strong>the</strong> United States,” <strong>the</strong> report said. The Indian import certificate for pork requires that importers make<br />
an attestation that <strong>the</strong> imported pork does not contain any residues of pesticides, veterinary drugs,<br />
mycotoxins, or o<strong>the</strong>r chemicals above <strong>the</strong> MRLs prescribed in international standards, <strong>the</strong> report said.<br />
However, <strong>the</strong>se certificates fail to identify specific compounds and <strong>the</strong>ir corresponding international<br />
limits, <strong>the</strong> USTR said. The US has requested India’s authorities to perform a risk assessment to support<br />
its restrictions on pork imports and continues to press India to lift <strong>the</strong> restrictions, it added.<br />
Observing that India maintains zero-tolerance standards for certain plant quarantine pests such as weed<br />
seeds and ergot, which block US wheat and barley imports, <strong>the</strong> report said bilateral discussions to<br />
resolve <strong>the</strong>se issues, including at <strong>the</strong> senior official level, have achieved little success to date.<br />
On June 28, 2011, U.S and Indian officials discussed this issue, and India agreed to collaborate fur<strong>the</strong>r by<br />
exchanging ergot strains and testing <strong>the</strong>m on barley under controlled conditions, it said. Referring to its<br />
March 6 request for consultations with India under <strong>the</strong> dispute settlement provisions of WTO regarding<br />
import prohibitions on certain US agricultural exports, <strong>the</strong> report said India’s import prohibitions are<br />
purportedly for <strong>the</strong> purpose of preventing <strong>the</strong> entry of avian influenza. “The United States is concerned<br />
that India has not provided a valid, scientifically-based justification for <strong>the</strong> import prohibitions,” it said.<br />
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Shinde calls on US corporates to invest in energy sector<br />
Power Minister Sushil Kumar Shinde has called on US corporate leaders to invest in India saying <strong>the</strong><br />
country is moving on <strong>the</strong> path of massive investment in <strong>the</strong> energy sector.<br />
Shinde, yesterday, also met <strong>the</strong> US Energy Secretary, Steven Chu, during which <strong>the</strong> two leaders<br />
discussed ways and means to enhance bilateral cooperation in <strong>the</strong> energy sector, in particular <strong>the</strong><br />
alternate sources of energy and energy conservation. In his address to a meeting of US private sector<br />
organised by US India Business Council yesterday, Shinde said India is moving on <strong>the</strong> path of massive<br />
investment in <strong>the</strong> energy sector, especially electricity generation and transmission. Energy security is of<br />
vital economic and strategic significance for us.<br />
A number of financial, technological and exploratory initiatives already exist with <strong>the</strong> US in clean and<br />
renewable energy and energy conservation and efficiency and we now need to explore economic<br />
partnerships between <strong>the</strong> Indian and US companies in this shift to clean energy, he said. "T<strong>here</strong> are<br />
excellent opportunities in India to examine <strong>the</strong> feasibility of clean energy technologies, which will be a<br />
win-win situation for India and <strong>the</strong> United States," Shinde said. No doubt India’s power sector presents a<br />
massive opportunity to <strong>the</strong> <strong>American</strong> companies, Shinde acknowledged <strong>the</strong> concerns of <strong>the</strong> investors<br />
from <strong>the</strong> US.<br />
I am also aware of <strong>the</strong> concerns of investors with respect to land acquisition, coal sourcing, financial<br />
health of discoms, pricing reforms, payment security and contract sanctity, he said. Recognizing <strong>the</strong><br />
need for an overall and comprehensive legal architecture and a policy framework conducive to larger<br />
and more sustained investment in <strong>the</strong> power sector, <strong>the</strong> Government of India took numerous steps to<br />
facilitate reforms in <strong>the</strong> sector, he said. Shinde said <strong>the</strong> Indian government has proposed various<br />
proposals in <strong>the</strong> Budget 2012 to stimulate investments.<br />
"A crucial Land Acquisition and Rehabilitation and Resettlement Bill are under <strong>the</strong> consideration of <strong>the</strong><br />
Parliament," he said.<br />
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US seeks answers on home sourcing of electronic items<br />
The US has questioned India's move to make domestic sourcing of electronic products with security<br />
implications compulsory for both public sector procurement and private sector telecom licensees at a<br />
World Trade Organization forum, stepping up pressure on <strong>the</strong> country to limit its application only on<br />
select goods.<br />
In a submission to <strong>the</strong> committee on trade and related investment measures, <strong>the</strong> US has asked India to<br />
explain <strong>the</strong> circumstances under which private firms may be required to purchase domestically<br />
manufactured electronic products and whe<strong>the</strong>r it would apply only in <strong>the</strong> case of those electronic<br />
products which have security implications for <strong>the</strong> country. "We will discuss all <strong>the</strong> issues raised by <strong>the</strong><br />
US with <strong>the</strong> departments of IT and telecom and give <strong>the</strong> relevant answers," a commerce department<br />
official told.<br />
In February this year, <strong>the</strong> department of information technology had issued a notification requiring <strong>the</strong><br />
purchase of domestically manufactured electronic products. The policy applies both to government<br />
procurement as well as to procurement of those electronic products which have security implications<br />
for <strong>the</strong> country.<br />
The US asked India to explain <strong>the</strong> circumstances under which private firms like telecom service providers<br />
may be required to purchase domestically manufactured electronic products. It also sought an answer<br />
to whe<strong>the</strong>r this requirement would apply only in <strong>the</strong> case of those electronic products which have<br />
security implications for <strong>the</strong> country. India was fur<strong>the</strong>r asked to explain <strong>the</strong> purpose of requiring <strong>the</strong><br />
purchase of domestically manufactured electronic products, ei<strong>the</strong>r for government procurement or for<br />
procurement by non-governmental entities.<br />
On <strong>the</strong> issue of who would determine whe<strong>the</strong>r an electronic good has a security implication, <strong>the</strong> US said<br />
that it appeared that <strong>the</strong> decision would be left to different ministries. "If so, please explain how<br />
differences in view between ministries on this question will be resolved. If not, please explain which<br />
entity in <strong>the</strong> government will make this determination and what criteria or factors will be examined to<br />
arrive at this determination," <strong>the</strong> submission said.<br />
US commerce secretary John Bryson had also taken up <strong>the</strong> issue with commerce and industry minister<br />
Anand Sharma during his India visit earlier this month stating that <strong>the</strong> provision would limit business<br />
opportunities for foreign companies.<br />
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Citi India appoints Jane Ong as head of corporate affairs<br />
Citi India recently announced <strong>the</strong> appointment of Jane Ong as <strong>the</strong> head of corporate affairs for Citi South<br />
Asia, with responsibility for media relations, managing external and internal communications. She will<br />
report to Pramit Jhaveri, CEO, Citi India.<br />
Pramit Jhaveri, CEO Citi India said, "We are pleased to appoint Jane as our Corporate Affairs Head for<br />
South Asia. Her extensive experience as a strategic advisor on corporate communications as well as her<br />
understanding of <strong>the</strong> print and television media will prove to be an asset to our brand in India."<br />
Jane has been <strong>the</strong> head of communications, Royal Bank of Scotland (RBS) India and head of<br />
communications and marketing for RBS Global Banking & Markets in India. She has more than 20 years<br />
of experience in communications, during which she has led a variety of roles across print and television<br />
journalism. Earlier in her career, Jane was <strong>the</strong> head of Burson-Marsteller's corporate / financial practice<br />
in Hong Kong.
She also worked as <strong>the</strong> on-air business / markets correspondent at CNBC Asia, Hong Kong, Television<br />
Broadcasts Ltd., Hong Kong and BBC World TV, Hong Kong. Jane is a graduate of <strong>the</strong> National University<br />
of Singapore.<br />
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India may become world’s top beef exporter by 2013: USDA<br />
India is likely to become <strong>the</strong> world’s largest beef (buffalo meat) exporter by 2013 as <strong>the</strong>re is consistent<br />
demand from price sensitive importers, primarily in Sou<strong>the</strong>ast Asia, West Asia and Africa, USDA has said.<br />
“Given India’s explosive export growth, India is likely to become <strong>the</strong> world’s largest beef (buffalo meat)<br />
exporter by 2013, if not sooner,” United States Department of Agriculture (USDA) said in its latest<br />
report.<br />
Export growth is largely on account of consistent demand from price sensitive importers, primarily in<br />
Vietnam and Sou<strong>the</strong>ast Asia, West Asia and Africa. As a result, <strong>the</strong> number of export production units is<br />
increasing to meet growing export demand for low-cost Indian buffalo meat, it added.<br />
According to USDA, India’s export of buffalo meat is estimated to rise 25 per cent to 1.52 million tons in<br />
2012 from 1.22 million tons in 2011. However, <strong>the</strong> dreaded Foot and Mouth Disease (FMD) in cattle<br />
could pose problems in <strong>the</strong> country’s March towards <strong>the</strong> world’s leading buffalo meat supplier, USDA<br />
said. “While <strong>the</strong>re are rumours of new market openings in Eastern Europe and <strong>Indo</strong>nesia, no known<br />
trade has yet occurred in <strong>the</strong>se regions and India’s FMD status makes this seem unlikely,” it added.<br />
Indian exporters are operating voluntary vaccination programs to combat FMD and <strong>the</strong> government of<br />
India has launched Rs. 4,000 crore programme to tackle <strong>the</strong> disease. While <strong>the</strong>se programs are positive<br />
steps, <strong>the</strong> reality of FMD remains a significant hurdle for expanding market access, USDA said.<br />
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California University in talks with Indian nursing colleges to offset shortage of nurses<br />
In an effort to offset <strong>the</strong> growing shortage of nursing students in India, <strong>the</strong> California State University<br />
(CSU) is in talks with nursing colleges in country to help hospitals deliver efficient healthcare services.<br />
In this regard, it is in a discussion with <strong>the</strong> Bengaluru-based Dayananda Sagar Institutions and is looking<br />
to partner with it and o<strong>the</strong>r institutions. India is facing a serious paucity of nursing staff across all<br />
specialties of healthcare which is estimated at 50 per cent. With a growing ageing population, rise in<br />
critical care and increase in accident-trauma cases, <strong>the</strong> shortage of nurses is a bane and is detrimental to<br />
<strong>the</strong> growth of healthcare sector.<br />
“We would help use technology to deliver efficient healthcare system despite <strong>the</strong> existing nurses<br />
shortage for education exchange programme and to conduct collaborative research, said Dr. Marilyn<br />
Stonar, associate professor and international coordinator of Nursing, California State University, San<br />
Bernardino.<br />
US government has stipulated on average two nurses for every patient in <strong>the</strong> Intensive Care Units, about<br />
four to five nurses for every patient during daytime and six nurses for every patient during night time.<br />
Nurses and patients in <strong>the</strong> US are growing old toge<strong>the</strong>r. <strong>Of</strong> <strong>the</strong> 250,000 nurses who serve in <strong>the</strong> US, a<br />
third of <strong>the</strong>m are on <strong>the</strong> verge of retirement. This is w<strong>here</strong> healthcare providers need to advocate <strong>the</strong><br />
use of technology to deliver efficient healthcare system, said Dr. Stonar who was <strong>here</strong> in connection<br />
with an international conference on ‘Nursing education & training in a global context’ under <strong>the</strong> aegis of<br />
Dayananda Sagar Institutions.
T<strong>here</strong> is a need to innovate newer methods of delivering nursing services to <strong>the</strong> community as it is<br />
humanly impossible for any nation to produce so many nurses. T<strong>here</strong> is a need to create a roadmap for<br />
next five years. Under ideal conditions, <strong>the</strong> healthcare sector requires one nurse for every patient for<br />
critical illness and five nurses for every patient in psychiatric cases, Dr. V Ravi, registrar, National<br />
Institute of Mental Health and Neurosciences (NIMHANS).<br />
The need of <strong>the</strong> hour is to encourage tele-nursing services and auxiliary services besides opening more<br />
number of nursing schools to boost <strong>the</strong> availability of <strong>the</strong> number of nurses. In fact, nursing personnel<br />
are at <strong>the</strong> forefront of healthcare delivery. T<strong>here</strong> is a clear need to chalk out a roadmap for <strong>the</strong> next five<br />
years. Under ideal conditions, <strong>the</strong> healthcare sector requires one nurse for every patient for critical<br />
illness and five nurses for every patient in psychiatric cases, said Dr. Ravi.<br />
T<strong>here</strong> is a huge global demand for nurses because <strong>the</strong> world population is ageing. “With <strong>the</strong><br />
advancement of science and enhanced longevity of human life notwithstanding <strong>the</strong> fact that people are<br />
fighting chronic diseases like AIDS and cancer, <strong>the</strong> demand for experienced nurses is always going up.”<br />
Even <strong>the</strong> Central Ostrobothnia University of Applied Sciences, Finland has commenced participation of<br />
student exchange programmes. A few select students from Finland were given opportunity to attend<br />
<strong>the</strong>oretical lectures in colleges in India, undertake study trips, and learn nursing practices and clinical<br />
practicing methods.<br />
Prof. Pia Hagquist, nursing faculty, Central Ostrobothnia University of Applied Sciences, Finland, in <strong>the</strong><br />
wake of <strong>the</strong> nursing staff shortage, even <strong>the</strong> World Health Organization was recommending promoting<br />
health which is viewed more important that curing a disease.<br />
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India-US trade vital for global economy: Godrej<br />
The prospects of trade between India and US will be <strong>the</strong> trigger for global economic recovery, said Mr.<br />
Adi Godrej, President-designate, Confederation of Indian Industry in an interaction with US-India<br />
business council.<br />
“India's trade with <strong>the</strong> US has gone up from $5 billion in 1990 to $100 billion now. This has potential to<br />
grow fur<strong>the</strong>r,” he said. To harness <strong>the</strong> full potential, both <strong>the</strong> countries should create an environment<br />
that is investment friendly for businesses to invest in both <strong>the</strong> countries, he added.<br />
“Infrastructure remains a mega opportunity for <strong>the</strong> US companies to engage in India's development<br />
plans. From roads, highways and railways to ports and airports, India needs capacity building at every<br />
level,” said Mr. Godrej.<br />
An investment of $1 trillion has been envisaged for infrastructure development under <strong>the</strong> 12th Five-Year<br />
Plan and about 30 per cent of it is expected to come from <strong>the</strong> private sector.<br />
“Policy reform in <strong>the</strong> financing arena, technology transfer and sharing best practices are some avenues<br />
through which collaboration among US and Indian SMEs can be accelerated,” Mr. Godrej added.<br />
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US sees huge business potential in emerging Indian cities<br />
The US today said it has asked its companies to explore business and partnership opportunities in<br />
emerging Indian cities, which hold huge economic potential. US Commerce Secretary John Bryson, who<br />
was in <strong>the</strong> country on a five-day official visit, said in <strong>the</strong> next 20 years, 68 cities in India would have<br />
population of over 1 million people each.
"Total yearly income of urban households in India is expected to reach USD 4 trillion in 2030. So, India's<br />
emerging regions and cities are now at <strong>the</strong> top of <strong>the</strong> list of our Growth in Emerging Metropolitan<br />
Sectors (GEMS) initiative," Bryson said <strong>here</strong> at an IACC function.<br />
GEMS had been launched by <strong>the</strong> US to look around <strong>the</strong> cities in <strong>the</strong> world that have huge potential for<br />
growth and business.<br />
"We are strongly encouraging businesses across <strong>the</strong> US to consider <strong>the</strong> full spectrum of opportunities<br />
and partnerships throughout India and not just in four metros (Delhi, Mumbai, Kolkata and Chennai),"<br />
he said.<br />
Bryson, who will visit Jaipur tomorrow, said that close working of businesses and governments of both<br />
<strong>the</strong> countries can help support India's path towards inclusive growth.<br />
"I will continue to spread <strong>the</strong> word that India's success and India's future are not solely defined by Delhi<br />
or Mumbai alone, just like America's success and America's future are not defined by New York,<br />
Washington," he said.<br />
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US supports India's investment in nuke projects<br />
The US is strongly supportive of India's investment in <strong>the</strong> civil nuclear power, and its support to <strong>the</strong><br />
NGOs goes for development and democracy programmes, <strong>the</strong> Obama Administration has said.<br />
"We are supportive as a government of India's investment in civil nuclear power. That's not what we<br />
support NGOs to do in India," <strong>the</strong> State Department spokesperson Victoria Nuland told reporters at her<br />
daily news conference on March 1, 2012.<br />
"Our NGO support goes for development, and it goes for democracy programmes," Nuland said when<br />
asked about <strong>the</strong> recent remarks by <strong>the</strong> Indian Prime Minister Manmohan Singh in an interview to <strong>the</strong><br />
Science magazine that three US-based NGO are funding anti-nuclear power plant projects in Tamil Nadu.<br />
The US official said that <strong>the</strong> country is supportive of India's investment in civil nuclear power and <strong>the</strong><br />
NGOs funded by it are involved in <strong>the</strong> same kind of democratization projects.<br />
"Are you surprised and shocked that this statement comes from <strong>the</strong> prime minister of India, and if <strong>the</strong><br />
secretary is aware of this?" she was asked. "I can't speak to that one way or <strong>the</strong> o<strong>the</strong>r," Nuland said.<br />
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U.S. tech groups alarmed by India purchasing plan<br />
Leading software and technology companies on Wednesday pressed President Barack Obama's<br />
administration for quick action on a new Indian government policy that <strong>the</strong>y said threatens exports to<br />
<strong>the</strong> fast-growing economy.<br />
The Business Software Alliance, Telecommunications Industry Association and o<strong>the</strong>r groups said in a<br />
letter to Trade Representative Ron Kirk that <strong>the</strong>y were "deeply concerned" by a plan that would require<br />
<strong>the</strong> Indian government to give domestic electronic goods preferential treatment in its purchases.<br />
The plan by India's Department of Information Technology's also covers "products that have undefined<br />
'security implications'" and potentially software, <strong>the</strong> groups said. "Most troubling, however, are <strong>the</strong><br />
(Indian government's) plans to use its regulatory power to force government licensees to purchase
domestic electronic products in a manner clearly inconsistent with <strong>the</strong> letter and spirit of India's WTO<br />
(World Trade Organization) commitments," <strong>the</strong>y said in <strong>the</strong> letter.<br />
They appealed for Kirk's urgent assistance in addressing a development that could have a "devastating"<br />
impact on U.S. companies' competitive stance in a key market in India and damage U.S.-India trade. A<br />
copy was also sent to Secretary of State Hilary Clinton and Commerce Secretary John Bryson, who is<br />
leading a trade mission to India later this month to explore opportunities for U.S. companies to take part<br />
in infrastructure projects.<br />
The United States has run increasingly large trade deficits in advanced technology products in recent<br />
years, unlike <strong>the</strong> surpluses that were typical in <strong>the</strong> 1990s. Last year, <strong>the</strong> advanced technology trade gap<br />
was $99.3 billion.<br />
While India is a growing market for variety of U.S. exports, imports from <strong>the</strong> sub-continent have grown<br />
even faster. The U.S. trade deficit with India hit $14.54 billion in 2011, as exports rose to $21.63 billion<br />
and imports to $36.17 billion. The coalition released <strong>the</strong> letter a day after <strong>the</strong> Obama administration<br />
filed a WTO case against India for its ban on imports of U.S. poultry meat, eggs and o<strong>the</strong>r farm products.<br />
The United States says <strong>the</strong> ban, which India says is needed to stop <strong>the</strong> spread of bird flu, is not based on<br />
sound science. More than 100 countries currently import U.S. poultry. The White House has made<br />
enforcement a major part of its overall trade agenda. Obama, who is running for reelection this year,<br />
recently created a new interagency trade enforcement unit to crack down on unfair foreign trade<br />
practices.<br />
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India sees US as an important partner: Rao<br />
India and United States are now natural allies and New Delhi sees Washington as an important partner<br />
in its journey of inclusive social and economic development, a top Indian diplomat has said.<br />
"Today, India and <strong>the</strong> US are true partnersin strategic terms, in economic terms, and in <strong>the</strong> development<br />
context," Indian Ambassador to <strong>the</strong> US Nirupama Rao said in her address to <strong>the</strong> Emory University on<br />
India-US Strategic Relations. "As India continues on its path of inclusive social and economic<br />
development, mobilizing <strong>the</strong> immense creativity and energy of its people, we see <strong>the</strong> US as an important<br />
partner in this journey," she said.<br />
Rao said <strong>the</strong> third India-US Strategic dialogue would be held in Washington in <strong>the</strong> next few months.<br />
Noting that <strong>the</strong> US has led <strong>the</strong> world when it comes to innovation, Rao said both <strong>the</strong> governments<br />
realize <strong>the</strong> critical importance of innovation to address new challenges and generate economic growth.<br />
"As both India and <strong>the</strong> US work towards becoming truly knowledge societies <strong>the</strong>y are also working<br />
toge<strong>the</strong>r to translate <strong>the</strong>se immense opportunities into practical cooperation: forging new links, creating<br />
ecosystems toge<strong>the</strong>r to foster creativity -that would lead to solutions for <strong>the</strong> problems that we face<br />
both immediate and in <strong>the</strong> long term. Let me enumerate some of <strong>the</strong>se," she said.<br />
Rao said energy security and <strong>the</strong> supply of clean and sustainable sources of energy are a common<br />
challenge for both countries. "In order to continue on our high growth path, India will need to invest in<br />
building a world class infrastructure that could cater to <strong>the</strong> demands of a billion plus population and<br />
ensure <strong>the</strong> availability of abundant supplies of clean sources of energy to fuel such growth. In both <strong>the</strong>se<br />
areas we are working to build mutually beneficial ties," she said.
India in <strong>the</strong> next five years will mobilize up to USD 100 million in public and private sector funds to<br />
facilitate research and development in breakthrough technologies. Several proposals have been<br />
received by <strong>the</strong> Centre, and <strong>the</strong> first awards are likely to be announced within this month.<br />
The two governments, Rao said, thus engaged intensively to increase collaboration and unleash <strong>the</strong> full<br />
potential of US-India innovation. "With a strong foundation in place, <strong>the</strong> two nations are uniquely<br />
positioned to pool <strong>the</strong>ir talent to address what President Obama's innovation strategy called <strong>the</strong> Grand<br />
Challenges of <strong>the</strong> 21st Century," she said.<br />
"In this context, it would be beneficial if we could work also on a framework that would help increase<br />
<strong>the</strong> mobility of high skilled workers across <strong>the</strong> two countries. In <strong>the</strong>se difficult economic times,<br />
sometimes we do hear <strong>the</strong> voices of protectionism," she said.<br />
"We all have stakes in ensuring that such sentiments do not affect <strong>the</strong> positive trajectory of our<br />
engagement keeping <strong>the</strong> long-term perspective in mind. What we need to promote is a dynamic<br />
network of partnerships and underpin <strong>the</strong>m through bilateral investments as well as through technology<br />
cooperation," Rao said.<br />
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US, India to sign $8 billion defense deals: Envoy<br />
US companies are poised to sign defense deals totaling $8 billion with India, US Ambassador Nancy<br />
Powell said on Friday at her first public speech since arriving in New Delhi this month. Powell did not<br />
specify which companies she was talking about or when <strong>the</strong> deals would be signed, but embassy officials<br />
said she was referring to negotiations that include about a dozen Apache helicopters along with engines<br />
for Indian jets.<br />
"We are poised to sign an additional $8 billion in direct commercial and foreign military sales," Powell<br />
said. "As we share more common equipment, our bilateral defense ties will become stronger." India is<br />
<strong>the</strong> world's largest arms importer and plans to spend close to about $100 billion over <strong>the</strong> next 10 years<br />
to upgrade its largely Soviet-era equipment.<br />
US companies including Boeing Co, Lockheed Martin Corp and Ray<strong>the</strong>on Co are some of <strong>the</strong> contractors<br />
looking to grab a share of India's planned military spending. Industrial conglomerate Honeywell<br />
International Inc. is offering engines for <strong>the</strong> Indian Air force’s Jaguar fighter aircraft.<br />
Powell said improving bilateral trade and investment was her main objective as ambassador, mentioning<br />
US concerns about tariff and non-tariff barriers and a new retroactive tax law as obstacles in <strong>the</strong><br />
relationship. Hoping to get a bigger slice in <strong>the</strong> pie of massive Indian defense modernization efforts, <strong>the</strong><br />
US has said <strong>the</strong> level of its willingness to share defense technologies with India has never been higher<br />
than it is now.<br />
"The level of our willingness to share technology with India has never been higher," Andrew Shapiro,<br />
Assistant Secretary of State for Political-Military Affairs, said.<br />
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Relax norms on import of wine, toys, and cosmetics: US to India<br />
The US has sought from India that it relax norms on a wide range of “technical barriers to trade”<br />
covering areas such as toys, cosmetics, wine and telecom equipment. In its latest report, <strong>the</strong> United<br />
States Trade Representatives (USTR) Monday said <strong>the</strong> US will press India to revise its labeling<br />
requirements for food and distilled spirits in 2012.
It also sought permanent exemption from <strong>the</strong> requirements that wine and distilled spirits labels include<br />
an ingredients list and disclose <strong>the</strong> date <strong>the</strong> product was manufactured. USTR said India’s Bureau of<br />
Indian Standards has proposed a “Toys and Toy Products (Compulsory Registration) Order” that would<br />
impose additional testing requirements on toys manufactured abroad.<br />
Under <strong>the</strong> proposed order, foreign manufacturers would only have 45 days to demonstrate that <strong>the</strong>ir<br />
toy products comply with <strong>the</strong> proposed testing requirements. “The proposed rule also appears to<br />
establish a new registration procedure that will require foreign toy producers to provide detailed and<br />
burdensome information related to toy manufacture,” it said.<br />
The US has asked India to postpone implementation of <strong>the</strong> order until all interested parties have had an<br />
opportunity to submit written comments and <strong>the</strong> Indian government has had an opportunity to consider<br />
those comments. According to <strong>the</strong> report, <strong>the</strong> US noted that India’s proposal, in contrast to US and<br />
international best practices, would establish a de facto in-country testing requirement. The US explained<br />
that India’s safety objectives could be satisfied by less trade-restrictive approaches such as recognizing<br />
test results from internationally recognized laboratories, including those accredited under <strong>the</strong><br />
International Laboratory Accreditation Cooperation Mutual Recognition Arrangement.<br />
US industry continues to have serious concerns regarding India’s proposed Drugs and Cosmetics<br />
(Amendment) Rules, 2007. Specifically, industry is concerned that <strong>the</strong> rules may subject imports of US<br />
drugs and cosmetics to a potentially costly and burdensome registration and licensing system. Beyond<br />
<strong>the</strong> administrative costs of conforming to <strong>the</strong> registration and licensing requirements, certain aspects of<br />
<strong>the</strong> requirements, such as in-country testing and frequent registration renewals for imported products,<br />
could result in delays in bringing US cosmetic and pharmaceutical products to <strong>the</strong> Indian market, USTR<br />
said.<br />
The US also expressed concern over <strong>the</strong> Indian regulations with regard to a number of<br />
telecommunications security regulations. These regulations, which India did not notify to <strong>the</strong> WTO,<br />
generated significant uncertainty and confusion for <strong>the</strong> US telecom industry. In response to US concerns<br />
on <strong>the</strong> measures, India suspended <strong>the</strong> use of <strong>the</strong> “template agreement” and agreed to review its<br />
security regulations.<br />
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Indian IT industry a major constituent in <strong>Indo</strong>-US ties: Nirupama Rao<br />
The Indian IT industry is a key constituent in <strong>the</strong> growing <strong>Indo</strong>-US relationship, India's top diplomat in<br />
Washington Nirupama Rao has said. "The Indian IT industry is one of <strong>the</strong> key constituents and<br />
stakeholders in <strong>the</strong> rapidly growing India-US relationship, and is committed to seeking long term<br />
technology partnerships with US," Rao said.<br />
Rao was speaking at an event at Centre for Strategic and International Studies, a Washington-based<br />
think tank, held to launch a report, titled 'India's Tech Industry in <strong>the</strong> US' of NASSCOM. The report<br />
launched along with <strong>the</strong> NASSCOM president, Som Mittal, details contributions of <strong>the</strong> Indian IT industry<br />
to <strong>the</strong> US economy, including through job creation, local hiring, enhancing of <strong>the</strong> competitiveness of US<br />
businesses, and undertaking social responsibility tasks in cooperation with local communities.<br />
Rao said as <strong>the</strong> India-US Strategic Partnership has grown, so has <strong>the</strong> willingness of <strong>the</strong> Indian IT firms to<br />
populate it with concrete commercial underpinnings, both in <strong>the</strong> broader field of knowledge economy<br />
and <strong>the</strong> specific area of IT and a range of IT enabled services. Indian IT companies are competitive and<br />
top end and only seek a level playing field in growing <strong>the</strong>ir business engagement with <strong>the</strong> United States,<br />
she said.<br />
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Refiners see no threat from US exports<br />
Indian fuel exporters see little threat from <strong>the</strong> US turning a net exporter of petroleum products since<br />
demand in <strong>the</strong> Indian Ocean and Arabian Sea is more than adequate to ensure a healthy pull for petroproducts'<br />
shipments from India. The US Energy Information Administration's Petroleum Supply Monthly<br />
report for February said <strong>American</strong> fuel shipments exceeded imports for <strong>the</strong> first time since 1949. Exports<br />
were pegged at 439,000 bpd (barrels per day) last year against imports of 269,000 bpd in 2010.<br />
The US has been a net importer of products because strict green norms limited <strong>the</strong> capacity of ageing<br />
refineries, mostly in <strong>the</strong> East Coast, from expanding to meet demand of cleaner fuels. But refurbished<br />
Gulf Coast capacities have buoyed US refiners to capitalize on higher demand in <strong>the</strong> Americas and<br />
overcome a fall in domestic consumption. Available data shows that petro-products have been topping<br />
India's export basket for several years, grossing $40.9 billion in 2010-11 and over $15 billion in <strong>the</strong> April-<br />
June period of 2011-12.<br />
"You have to see <strong>the</strong> trend globally. Our export focus is different. South-East Asia, Asia-Pacific and<br />
Australasia regions are deficit (in products). Then West Asia, w<strong>here</strong> demand has gone up but new<br />
refining capacities are not coming up quickly. Europe is deficit in diesel. T<strong>here</strong>'s enough demand outside<br />
<strong>the</strong> Americas for Indian refiners to fulfill," said Essar Energy deputy chairman Naresh Nayyar. Essar<br />
Energy operates some 26 million tons of refining capacity, including a 14 million-ton unit at Vadinar in<br />
Gujarat - predominantly aimed at exports - and a 12 million ton plant at Stanlow in <strong>the</strong> UK.<br />
State-run refiners too are not worried. "We don't export much (in <strong>the</strong> face of healthy growth at home).<br />
It is mostly naphtha and bitumen. Maybe at times MS (petrol). But <strong>the</strong>se are sold through global tender<br />
and anyone from anyw<strong>here</strong> can buy. Same goes for o<strong>the</strong>r PSUs," said Indian Oil Corporation's director<br />
(finance) P K Goyal, who is also in charge of international trading operations of India's biggest fuel<br />
retailer. The firm has a refining capacity of 66 million tons.<br />
But <strong>the</strong> situation could be different for Reliance Industries, which ships more products to <strong>the</strong> Americas.<br />
Industry sources said <strong>the</strong> company had hired storage facility in <strong>the</strong> Gulf Coast and Ashkelon in Israel to<br />
"break' into small parcels cargos shipped in large carriers but had reduced volumes.<br />
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US varsity to establish India Chair in Democracy and Civil Society<br />
To foster greater understanding about <strong>the</strong> Indian democratic framework, a US university has decided to<br />
establish India Chair, which is said to be <strong>the</strong> first endowed Chair in North America devoted to study this<br />
aspect of <strong>the</strong> country. The India Chair in Democracy and Civil Society at <strong>the</strong> L Douglas Wilder School of<br />
Government and Public Affairs of <strong>the</strong> Virginia Commonwealth University will be devoted to studying this<br />
aspect of India, its history, culture, and vibrancy of its civil society.<br />
Consequently, <strong>the</strong> university has launched a fund-raising effort to raise $1-million campaign for <strong>the</strong> India<br />
Chair in Democracy and Civil Society. The inaugural dinner for this was held in Richmond recently which<br />
among o<strong>the</strong>rs was attended by <strong>the</strong> Virginia Governor, Mr. Robert McDonnell, and <strong>the</strong> Indian<br />
Ambassador to <strong>the</strong> US, Ms. Nirupama Rao. Unlike o<strong>the</strong>r industrializing countries w<strong>here</strong> capitalism was<br />
embraced first and democracy sought later, India is a rare example w<strong>here</strong> democracy took residence<br />
even before modernization and capitalism visited, <strong>the</strong> university said.<br />
In <strong>the</strong> past decade, several Chairs of Indian studies have emerged at premier universities in North<br />
America and Europe. While <strong>the</strong> work of <strong>the</strong>se Chairs is helpful in understanding contemporary Indian<br />
democracy, it does not address why Indian democracy has withstood <strong>the</strong> test of time and why its place<br />
is so different than in o<strong>the</strong>r developing and newly industrializing countries, it said. While drawing on <strong>the</strong><br />
work of <strong>the</strong>se Chairs and on <strong>the</strong> scholarship of India, <strong>the</strong> India Chair in Democracy and Civil Society at
<strong>the</strong> Virginia Commonwealth University will focus on <strong>the</strong> kind of integrative understanding of ancient and<br />
modern India that is essential to understanding <strong>the</strong> Indian democratic ethos.<br />
According to <strong>the</strong> university, <strong>the</strong> India Chair in Democracy and Civil Society will attract a distinguished set<br />
of visitors to <strong>the</strong> university, coming from leading Indian organizations and universities, North-<strong>American</strong><br />
and European think-tanks and universities, leading luminaries from India’s growing corporate sector, <strong>the</strong><br />
Indian civil service, and leaders from <strong>the</strong> Indian Diaspora.<br />
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US willing to consider setting up power JVs in India<br />
The visiting US Commerce Secretary is willing to consider <strong>the</strong> suggestion that <strong>American</strong> companies<br />
should set up JVs for power equipment manufacturing in India, an official said today.<br />
US Commerce Secretary John Bryson, who is heading a business delegation, today called on Power<br />
Minister Sushilkumar Shinde."The US delegation was told that <strong>the</strong>y can come and set up shops in jointventure<br />
format. The US Commerce Secretary is deliberating on it," <strong>the</strong> Power Ministry official said.<br />
Shinde, yesterday, said <strong>the</strong> US companies are welcome to set up joint venture entities for making power<br />
equipment in <strong>the</strong> country. His statement came in <strong>the</strong> wake of Bryson's remarks that import duties are<br />
high in India. "The Power Minister discussed <strong>the</strong> issue of import duty on power equipment with <strong>the</strong><br />
delegation," <strong>the</strong> official said. Shinde had said that many companies including those from France,<br />
Germany and Japan are having joint venture entities for power equipment manufacturing <strong>here</strong>.<br />
Larsen & Toubro-Mitsubishi Heavy Industries, JSW Energy-Toshiba Corp, BGR Energy-Hitachi Power<br />
Europe and Bharat Forge-Alstom SA are among <strong>the</strong> power equipment making joint ventures.<br />
The Power Ministry, last month, had floated a Cabinet note proposing a levy of 19 per cent customs duty<br />
on <strong>the</strong> import of power gear, mainly from China. Currently, equipment imported for projects of less than<br />
1,000 MW capacity attract five per cent customs duty, while those above that enjoy exemption.<br />
The plan to slap higher duty on overseas power equipment is aimed at providing a level-playing field for<br />
domestic manufacturers like BHEL and L&T, which are battling intense competition, mainly from China.<br />
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U.S. automakers in race for Indian market<br />
A decade of breakneck economic growth and a fast-expanding middle class are bringing India close to a<br />
“tipping point,” when incomes in towns and smaller cities across <strong>the</strong> country reach <strong>the</strong> threshold at<br />
which car sales typically explode. That should happen by <strong>the</strong> middle of this decade, Ford’s Hinrichs said,<br />
and “that’s when we expect ano<strong>the</strong>r dramatic growth phase.”<br />
Environmentalists warn of <strong>the</strong> prospect of millions more cars on India’s roads, especially in cities with<br />
some of <strong>the</strong> worst air quality in Asia. Nor is it easy to imagine how those roads will cope, congested as<br />
<strong>the</strong>y already are with motorcycles, scooters, bicycles, three-wheeler auto rickshaws, ox carts, trucks and<br />
vans. But even if infrastructure investment fails to keep pace with demand and congestion worsens, car<br />
ownership in India, just like in China, is becoming an important status symbol for an aspiring middle<br />
class.<br />
To take advantage, General Motors set up a car factory near <strong>the</strong> western city of Pune, close to Mumbai,<br />
in 2008 and is expanding its plant at Halol in Gujarat, just a few hours’ drive from <strong>the</strong> site of Ford’s new<br />
factory at Sanand. It, too, is launching products for local tastes, such as <strong>the</strong> seven-seater Chevrolet<br />
Enjoy, aimed at bigger Indian families, and <strong>the</strong> Chevrolet Sail, both designed in China with <strong>the</strong><br />
company’s joint-venture partner <strong>the</strong>re.
Although high interest rates flattened India’s car market <strong>here</strong> last year, <strong>the</strong> company is equally bullish<br />
about <strong>the</strong> medium term. Three brands dominate <strong>the</strong> Indian market — Maruti Suzuki, Hyundai and <strong>the</strong><br />
homegrown Tata Motors account for roughly 70 percent of passenger car sales — but GM, like Ford,<br />
thinks it can significantly raise its market share from <strong>the</strong> roughly 4 percent it has now. “We’ve made a<br />
very strong commitment to India,” said Lowell Paddock, <strong>the</strong> company’s India president and managing<br />
director. “T<strong>here</strong> is so little growth in a lot of <strong>the</strong> developed world that markets like India, even though<br />
<strong>the</strong>y may be growing less strongly than in <strong>the</strong> past, are still more attractive.”<br />
The Auto Hub of India<br />
Much of <strong>the</strong> new investment in India’s car industry is arriving on <strong>the</strong> shores of Gujarat, a state run by<br />
business-friendly but polarizing Chief Minister Narendra Modi. Modi was denied a visa to travel to <strong>the</strong><br />
United States in 2005 over allegations that he turned a blind eye to or even actively encouraged riots in<br />
2002 in which more than 1,100 people, almost all of <strong>the</strong>m Muslims, died. But Ford said <strong>the</strong> incident had<br />
no bearing on its decision. “We don’t make a political statement one way or <strong>the</strong> o<strong>the</strong>r, we’re making a<br />
business investment,” Hinrichs said. “These are multi-decade manufacturing facilities that last beyond<br />
any politician’s career or any individual’s career in business as well.” Tata Motors is already in Gujarat,<br />
manufacturing <strong>the</strong> world’s cheapest car, <strong>the</strong> Nano, on a site bordering Ford’s. French automaker PSA<br />
Peugeot Citroen announced last year that it would build a plant in Sanand, while Maruti Suzuki also<br />
plans to follow.<br />
Gujarat is one of India’s richest and fastest-growing states, and Ford and GM talk enthusiastically about<br />
<strong>the</strong> investor-friendly conditions <strong>the</strong>re, <strong>the</strong> stable policy environment, <strong>the</strong> lack of corruption and <strong>the</strong><br />
tremendous infrastructure, including uninterrupted power supply, great roads and access to ports for<br />
export. Indeed, Modi makes no bones about his desire to turn Gujarat into “<strong>the</strong> auto hub” of India with<br />
consistent, pro-business policies. “As a state, we are competing with China in <strong>the</strong> manufacturing sector,”<br />
he said. “T<strong>here</strong> is no red tape-ism, only <strong>the</strong> red carpet.”<br />
GM India’s vice president for corporate affairs, P. Balendran, speaks glowingly of governance in Gujarat<br />
and says Modi gives foreign investors his personal attention. Riots occur all over India, Balendran said.<br />
“It is only a temporary aberration, and this being a temporary aberration, it does not impact any of <strong>the</strong><br />
investors.”<br />
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India takes visa fee hike issue to WTO<br />
India is challenging <strong>the</strong> United States at <strong>the</strong> World Trade Organization over increased visa fees for skilled<br />
workers that have hit <strong>the</strong> country's flagship outsourcing firms, an official said. "We are pursuing this at<br />
<strong>the</strong> consultation level. It is our hope we reach an amicable conclusion," India has sought consultations<br />
with Washington, which is <strong>the</strong> first step in <strong>the</strong> World Trade Organization’s complaints process, he said.<br />
Indian Commerce Minister Anand Sharma discussed <strong>the</strong> visa issue with his US counterpart John Bryson<br />
when he visited New Delhi last month, <strong>the</strong> official added. More than half of <strong>the</strong> world's top 500<br />
companies outsource work to India which has become <strong>the</strong> world's back office w<strong>here</strong> Western firms have<br />
set up call centres, and number-crunching and software development outlets to cut costs.<br />
But <strong>the</strong> Indian industry, which expects to earn $78 billion in export revenues this year, also flies<br />
thousands of employees each year to <strong>the</strong> US to work at <strong>the</strong>ir clients' locations as onsite technicians and<br />
engineers. US sponsors of <strong>the</strong> legislation said <strong>the</strong> law would hike fees for certain Indian outsourcing<br />
firms, naming Wipro, Infosys and Tata Consultancy Services, which <strong>the</strong>y accused of seeking to "exploit"<br />
visas to "import foreign workers."
The companies denied <strong>the</strong> allegations and Indian industry officials called <strong>the</strong> legislation discriminatory.<br />
Under <strong>the</strong> 2010 law, US visa fees for skilled workers nearly doubled to $4,500 from $2,500 for firms with<br />
more than a 50 per cent non-<strong>American</strong> workforce. Outsourcing has become an important issue in <strong>the</strong> US<br />
presidential election campaign with President Barack Obama promising to "insource" jobs to help<br />
reduce high unemployment. The visa case comes after <strong>the</strong> United States last month launched a similar<br />
action against India at <strong>the</strong> WTO, charging that New Delhi's ban on poultry and egg imports violated<br />
global trade rules. India said it imposed <strong>the</strong> ban to "prevent avian flu."<br />
The trade disputes come as <strong>the</strong> countries navigate some of <strong>the</strong> choppiest waters since <strong>the</strong>y began to<br />
build closer ties in <strong>the</strong> late 1990s, with Washington weighing sanctions unless New Delhi significantly<br />
cuts oil imports from Iran.<br />
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Harvard B-school has a new address in Mumbai<br />
US-headquartered Harvard Business School (HBS) has finally found an address for its executive<br />
education classroom in India. The B-school, beginning this March, will offer executive programmes at<br />
<strong>the</strong> Taj Lands End, at Bandra, in suburban Mumbai.<br />
The space at <strong>the</strong> hotel will be an amphi<strong>the</strong>ater-style classroom fashioned after <strong>the</strong> ones at Harvard<br />
Business School in Boston. The B-school has been conducting executive education or management<br />
development programmes (MDPs) in India since 2008 at five-star hotels. HBS and its India Research<br />
Center (IRC), which was set up in 2006, offer three executive education programmes in India. This year,<br />
while it has already offered one executive education programme, it will offer two more between March<br />
and May 2012.<br />
HBS is charging Rs. 2, 29,250 for its programme of ‘Building a Global Enterprise in India’ in March. It will<br />
charge Rs. 2, 04,750 for its programme on ‘Develop India — Real Estate Strategies for Growth’, to be<br />
offered in May.<br />
India’s growing Rs. 350-crore executive education space continues to attract B-schools. The Wharton<br />
School of Business, University of Pennsylvania, will also have its own centre in India. “We will have office<br />
space and classrooms. We are looking at a centralised location and Mumbai that will suit our needs <strong>the</strong><br />
most, as of now. Within <strong>the</strong> next two years we will have a physical presence in India. Through <strong>the</strong><br />
centre, we will not only conduct executive education, but will also use it as a place for <strong>the</strong> alumni to<br />
converge and our faculty to convene for research,” Jason Wingard, vice-dean, Executive Education at<br />
Wharton told Business Standard.<br />
Wharton joins <strong>the</strong> likes of University of Chicago, Tuck School of Business, INSEAD, Oxford University’s<br />
Said Business School and Duke University, among o<strong>the</strong>rs, to offer <strong>the</strong>ir executive education programmes<br />
in India. "We have realized that many of <strong>the</strong> emerging markets continue to grow, and it is important for<br />
us to have a variety of locations around <strong>the</strong> world. We are present in India, China and Brazil.” Wharton<br />
receives about 10,000 executive education participants on its campus every year and India is among <strong>the</strong><br />
top three countries in terms of participants from outside <strong>the</strong> US.<br />
Wharton has started a certificate programme, ‘Accelerated Development Program’, for business leaders<br />
in India from January 2012. Track one of <strong>the</strong> programme will have three Wharton executive education<br />
programmes in India at Rs. 6, 60,000 (plus service tax). Track two will see two executive education<br />
programmes in India and one in Philadelphia in <strong>the</strong> US for Rs 500,000 (plus service tax) and Wharton<br />
Philadelphia programme at a discount of 25 per cent.<br />
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US companies keen to invest in Tier II Indian cities<br />
Many US companies and businesses are keen to invest in India, particularly in infrastructure, energy and<br />
healthcare sector, a top US diplomat said.<br />
"Since incredible growth has been happening in Indian Tier II and III cities like Coimbatore, <strong>the</strong> US wants<br />
to expand bilateral economic ties with India through business relations between <strong>the</strong> companies," Judy<br />
Reinke, Minister Counselor for Commercial Affairs, US Embassy, Delhi, told reporters. She was <strong>here</strong> as<br />
part of a three-day event 'Experience America' and to inaugurate an <strong>American</strong> Business Corner (ABC),<br />
which is to streng<strong>the</strong>n commercial connections, making it easier for South Asia and United States to<br />
connect.<br />
Earlier, inaugurating <strong>the</strong> ABC, Jennifer McIntyre, US Consul General, Chennai, said <strong>the</strong>re types of<br />
connections, in addition to continued hard work on <strong>the</strong> US-India relationship, would play a role in<br />
improving <strong>the</strong> lives of millions of people in <strong>the</strong> years to come. Stating that bilateral economic<br />
cooperation over <strong>the</strong> last few decades has resulted in dramatic increase in investment and trade, she<br />
said US-India Foreign Direct Investment increased by nearly 165 per cent between 2005 and 2009.<br />
US exports to India have quadrupled over <strong>the</strong> last decade, while Indian exports to US have grown by<br />
180 per cent, she said.<br />
The ABC, <strong>the</strong> second in India, after Madurai in Tamil Nadu, would help Indian importers and exporters<br />
to learn about <strong>the</strong> services and program of <strong>the</strong> US Commercial Services and help in connecting with<br />
<strong>American</strong> businesses, Judy said.<br />
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India, US to boost health cooperation<br />
India and <strong>the</strong> US will streng<strong>the</strong>n cooperation in <strong>the</strong> area of public health by sharing information and best<br />
practices, identify and address policy concerns and establish new technologies. The agreement to<br />
ensure smooth implementation of issues for bilateral cooperation was reached during a meeting <strong>here</strong><br />
Monday between Indian ambassador Nirupama Rao and US Health and Human Services Secretary<br />
Kathleen Sebelius.<br />
Rao highlighted <strong>the</strong> importance of vibrant India-US health cooperation in streng<strong>the</strong>ning <strong>the</strong>ir strategic<br />
dialogue and addressing <strong>the</strong> challenges of global health such as Rotavirus vaccine development, solution<br />
for HIV/AIDS and non-communicable diseases containment, <strong>the</strong> Indian embassy said in a media release.<br />
To fur<strong>the</strong>r broaden and deepen <strong>the</strong> bilateral health cooperation and to ensure better health at<br />
affordable costs for <strong>the</strong> people, she mentioned about emerging collaboration opportunities in areas of<br />
cancer research<br />
These include specifically cooperation in development of <strong>the</strong> Indian National Cancer Institute and low<br />
cost biomedical technologies and health informatics. Rao also underscored <strong>the</strong> opportunity for<br />
development of cooperation in <strong>the</strong> field of traditional medicine, which has immense market potential in<br />
<strong>the</strong> US.<br />
Recalling her visit to India in January, Sebelius said it had helped her to understand <strong>the</strong> complexities of<br />
Indian health system and its challenges, <strong>the</strong> release said<br />
She lauded <strong>the</strong> Indian effort for eradication of polio over <strong>the</strong> last one year, which resulted in removal of<br />
India from <strong>the</strong> list of polio affected nations by World Health Organization (WHO). Sebelius also<br />
expressed her satisfaction in progress of <strong>the</strong> Global Disease Detection (GDD) - India Centre, which has<br />
been established in collaboration with <strong>the</strong> US Centre for Disease Control & Prevention (CDC).<br />
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Military ties with India growing: US<br />
Ties between <strong>the</strong> US and Indian militaries are growing, a senior defense official said on Friday, noting<br />
recent bilateral security talks between <strong>the</strong> two countries reaffirmed <strong>the</strong> partnership and <strong>the</strong> growing US<br />
interest in advancing it.<br />
Acting under Secretary of Defense for policy James Miller joined Indian defense secretary Shashi Kant<br />
Sharma in co-chairing <strong>the</strong> 12th annual US-India defense policy group dialogue in New Delhi Feb 21 and<br />
22.<br />
Speaking during a media roundtable Friday, Obert Scher, Deputy Assistant Secretary of Defense for<br />
South and Sou<strong>the</strong>ast Asia, said <strong>the</strong> trip, Miller's first since assuming his post, demonstrates <strong>the</strong> US'<br />
commitment to its relationship with India, Xinhua reported.<br />
Scher noted that India is <strong>the</strong> only country <strong>the</strong> new strategy guidance specifically identifies for increased<br />
engagement, reflecting <strong>the</strong> priority both US President Barack Obama and <strong>the</strong> Pentagon place on <strong>the</strong><br />
partnership.<br />
The annual defense policy group meetings aim to advance <strong>the</strong> two countries' strategic defense<br />
relationship, enabling <strong>the</strong>m to set priorities, take stock of progress and work through hurdles that stand<br />
in <strong>the</strong> way, Scher said, focusing on defense procurement and production, technical cooperation,<br />
military-to-military cooperation and technical security. Scher said that Miller and Sharma agreed to<br />
continue concentrating on maritime security cooperation, defense trade and developing new,<br />
cooperative research and development projects for <strong>the</strong> upcoming year.<br />
Both expressed an interest in increasing personal interactions at all levels in <strong>the</strong>ir defense and military<br />
establishments through continued dialogue, exercises, personal exchanges and training associated with<br />
defense sales, Scher said.<br />
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Narayana Murthy receives awards from University of South Florida<br />
Infosys chief mentor Narayana Murthy has been felicitated with <strong>the</strong> Global Leadership and Free<br />
Enterprise awards by <strong>the</strong> University of South Florida in recognition of his entrepreneurial spirit. The two<br />
awards were presented to Murthy by USF President Judy Genshaft at a ceremony in Tampa, Florida.<br />
In his interaction with USF students, Murthy talked about his current duties as Infosys chairman<br />
emeritus, which keeps him busy though not involved in <strong>the</strong> day-to-day operations, and <strong>the</strong>n engaged in<br />
a question and answer session. Murthy recounted details about <strong>the</strong> impact of changes in <strong>the</strong> tech world<br />
that “transformed <strong>the</strong> entire scenario” for corporations and “opened up unlimited and enormous<br />
opportunities,” most significantly <strong>the</strong> introduction of super computers and online transaction<br />
capabilities.<br />
Maria Valentino, who mentioned how impressed she was with <strong>the</strong> business culture she found during her<br />
visit to Infosys as a student, asked how his company managed to maintain its values. Murthy responded<br />
that, because of his middle class background, it was not as difficult to do as it might be for <strong>the</strong> mass of<br />
people eking out a living.<br />
“You need a spirit of sacrifice and you need to have trust,” he said. He explained how <strong>the</strong> company’s<br />
ethos has its roots in <strong>the</strong> very first meeting held at his house in Mumbai with his six fellow founders.<br />
Their discussion was focused on profitability. Murthy focused <strong>the</strong>ir attention on “seeking respect,”<br />
“living in harmony with society” and making sure “you don’t shortchange your customers”.
When you do those things, “Revenue will come. Profit will come,” he said. In response to a question<br />
about <strong>the</strong> chances of Murthy entering politics, he mentioned his preference for “rational discussion”<br />
and <strong>the</strong> difficulty <strong>the</strong> political world offers for such a discussion, he expressed some hesitation.<br />
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India for mobility of skilled workers with US: Nirupama Rao<br />
India is keen to work on a framework to increase <strong>the</strong> mobility of skilled workers with <strong>the</strong> US to tap <strong>the</strong><br />
full potential of bilateral ties, a top Indian diplomat has said, as she warned against "voices of<br />
protectionism" in America.<br />
"As India continues on its path of inclusive social and economic development, mobilizing <strong>the</strong> immense<br />
creativity and energy of its people, we see <strong>the</strong> US as an important partner in this journey," Indian<br />
Ambassador to <strong>the</strong> US Nirupama Rao said.<br />
"In this context, it would be beneficial if we could work also on a framework that would help increase<br />
<strong>the</strong> mobility of high skilled workers across <strong>the</strong> two countries. In <strong>the</strong>se difficult economic times,<br />
sometimes we do hear <strong>the</strong> voices of protectionism," she said.<br />
"We all have stakes in ensuring that such sentiments do not affect <strong>the</strong> positive trajectory of our<br />
engagement keeping <strong>the</strong> long-term perspective in mind. What we need to promote is a dynamic<br />
network of partnerships and underpin <strong>the</strong>m through bilateral investments as well as through technology<br />
cooperation," Rao said.<br />
Her remarks came amid US President Barack Obama's frequent tirade against outsourcing. He has said<br />
that US firms shipping jobs off shores should be denied tax breaks if manufacturing is to be brought back<br />
to America and employment is to be raised. Obama said all tax benefits should go to companies that<br />
produce jobs inside <strong>the</strong> country. "As both India and <strong>the</strong> US work towards becoming truly knowledge<br />
societies <strong>the</strong>y are also working toge<strong>the</strong>r to translate <strong>the</strong>se immense opportunities into practical<br />
cooperation....," she said.<br />
"With a strong foundation in place, <strong>the</strong> two nations are uniquely positioned to pool <strong>the</strong>ir talent to<br />
address what President Obama innovation strategy has called <strong>the</strong> Grand Challenges of <strong>the</strong> 21st<br />
Century," she said.<br />
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India moves WTO against US steel duties<br />
Close on <strong>the</strong> heels of its challenging US visa curbs in <strong>the</strong> World Trade Organization; India launched a<br />
trade dispute to challenge US duties on certain steel products. The World Trade Organization merely<br />
said on its website today that India has requested consultations with <strong>the</strong> US under <strong>the</strong> dispute<br />
settlement system concerning <strong>the</strong> latter's countervailing duties on certain steel products from India.<br />
The request for consultations is <strong>the</strong> first stage of a formal trade dispute. Consultations give <strong>the</strong> parties<br />
an opportunity to discuss <strong>the</strong> matter and to find a satisfactory solution without proceeding fur<strong>the</strong>r with<br />
litigation. After 60 days, if consultations have failed to resolve <strong>the</strong> dispute, <strong>the</strong> complainant may request<br />
adjudication by a panel. Countries impose countervailing duties to offset ano<strong>the</strong>r country's subsidies<br />
suspected of giving an unfair trade advantage.<br />
The World Trade Organization (WTO) deals with <strong>the</strong> global rules of trade between nations. Its main<br />
function is to ensure that trade flows as smoothly, predictably and freely as possible.
India has also moved <strong>the</strong> WTO against <strong>the</strong> huge cost of US work visas that it says discriminates against<br />
certain information technology firms based in India.<br />
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US praises India's non-proliferation record<br />
The US has commended India, which Thursday successfully tested its long-range nuclear-capable missile<br />
Agni-V, for its "solid non-proliferation record" even as it cautioned all nuclear-capable states to exercise<br />
restraint regarding nuclear capabilities. "Naturally, I just would say that we urge all nuclear-capable<br />
states to exercise restraint regarding nuclear capabilities," State Department spokesman Mark Toner<br />
told reporters Wednesday ahead of <strong>the</strong> test.<br />
"That said, India has a solid non-proliferation record," he said when asked to comment on India's plans<br />
to test its indigenous intercontinental ballistic missile Agni-V. "They're engaged with <strong>the</strong> international<br />
community on non-proliferation issues. And Prime Minister (Manmohan Singh), I believe, has attended<br />
both of <strong>the</strong> nuclear security summits, <strong>the</strong> one in Washington and <strong>the</strong>n Seoul," Toner noted.<br />
Asked if India had consulted Washington about <strong>the</strong> test, he said: "We've got a very strong strategic and<br />
security partnership with India, so we obviously have routine discussions about a wide range of topics,<br />
including <strong>the</strong>ir defense requirements." But "I'm not aware that we've specifically raised this issue with<br />
<strong>the</strong>m", he added.<br />
Asked if his comments indicated US wouldn't have any specific concerns on India's test as a destabilizing<br />
factor in <strong>the</strong> region, Toner said: "I think I'll just stay with <strong>the</strong> fact that we always caution all nuclearcapable<br />
states to exercise restraint."<br />
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Indian-<strong>American</strong>s emerge as major contributors in <strong>American</strong> media<br />
<strong>American</strong>s are not only significantly contributing to <strong>the</strong> US, but have also emerged as major players in<br />
<strong>the</strong> country’s media. Indian-born Aparism Bobby Ghosh was recently named by Time magazine as<br />
'Editor-at-Large'. Time Managing Editor Richard Stengel, called Ghosh "one of Time's greatest assets”,<br />
and said that <strong>the</strong> previous year was one of his best yet. Fareed Zakaria too was introduced as Editor-at-<br />
Large of Time Magazine in October 2010 after spending 10 years overseeing all of Newsweek's editions<br />
abroad.<br />
Zakaria was called "<strong>the</strong> most influential foreign policy adviser of his generation" by Esquire Magazine.<br />
She hosts what has been termed as one of <strong>the</strong> most intelligent shows on <strong>American</strong> TV, 'Fareed Zakaria<br />
GPS' on CNN every Sunday.<br />
Sanjay Gupta, <strong>the</strong> multiple Emmy-award winning chief medical correspondents for CNN is a practicing<br />
neurosurgeon who has reported from earthquake- and tsunami-ravaged Japan, earthquake devastated<br />
Haiti and covered live <strong>the</strong> unprecedented flooding in Pakistan. Then <strong>the</strong>re is Vinnie Malhotra, a former<br />
programme development executive at ESPN and long-time ABC News producer, who has just joined CNN<br />
as senior vice president for development and acquisitions. Raju Narisetti, credited with creating Mint,<br />
<strong>the</strong> successful business daily out of Delhi, recently returned to <strong>the</strong> Wall Street Journal, w<strong>here</strong> he had<br />
spent 23 years earlier, as Managing Editor of its Digital Network.<br />
Nisid Hajari, Managing Editor of Newsweek is currently involved in writing "Midnight's Furies," a<br />
dramatic history of <strong>the</strong> Partition of India and Pakistan, told through <strong>the</strong> characters of Gandhi, Jinnah,<br />
Nehru, Churchill, and Mountbatten. Rajiv Chandrasekaran, National Editor of The Washington Post, has<br />
worked <strong>the</strong>re since 1994. His first book "Imperial Life in <strong>the</strong> Emerald City: Inside Iraq's Green Zone"
published in 2006 won <strong>the</strong> 2007 Samuel Johnson Prize and was a finalist for <strong>the</strong> 2006 National Book<br />
Awards for non-fiction.<br />
ESPN's sports anchor Kevin Negandhi is <strong>the</strong> first anchor of Indian-<strong>American</strong> origin to be on a national<br />
sports network in <strong>American</strong> Television history and Ali Velshi, son of Murad Velshi, <strong>the</strong> first Canadian of<br />
Indian- origin elected to <strong>the</strong> legislative assembly of Ontario, serves as CNN's chief business<br />
correspondent.<br />
O<strong>the</strong>r Indian-origin personalities include Davan Maharaj, managing editor of <strong>the</strong> Los Angeles Times;<br />
Stephanie Mehta, Fortune magazine Executive Editor overseeing technology, and Nikhil Deogun, Senior<br />
Vice President and Editor in Chief Business News, CNBC. Peter Bhatia, editor of The Oregonian, is <strong>the</strong><br />
first South Asian to run a major US daily. Apart from <strong>the</strong>se, <strong>the</strong>re are many lesser known Indian-<br />
<strong>American</strong>s serving as producers, reporters, copy editors and production assistants, bringing <strong>American</strong>s<br />
<strong>the</strong>ir daily news -showing how far Indian-<strong>American</strong> have come in <strong>the</strong> media world.<br />
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US Company says solar mission sourcing 'self-destructive'<br />
A US-based photovoltaic cellmaker has termed <strong>the</strong> sourcing policy under India's national solar mission as<br />
"self-destructive" and said it discourages competition. Maja Wessels, First Solar's executive VP, global<br />
public affairs, said prices of solar photovoltaic cells are not coming down due to lack of competition. "It<br />
makes more sense for India to open up for foreign manufacturers instead of protecting its own. The<br />
government needs to facilitate price reduction and competition."<br />
India plans to add 1,000 MW of solar power projects by 2013 and achieve 20,000 MW by 2022. Under<br />
<strong>the</strong> Jawaharlal Nehru National Solar Mission, all investors must compulsorily use domestic solar modules<br />
and buy 30% of <strong>the</strong>ir inputs from local manufacturers. India is facing stiff resistance to this local sourcing<br />
clause from <strong>the</strong> US and <strong>the</strong> EU.<br />
"National solar mission is a visionary plan. It even brought down <strong>the</strong> prices of solar products but <strong>the</strong>n it<br />
should also widen <strong>the</strong> market base in <strong>the</strong> country," Wessels said, adding, "For a country w<strong>here</strong> <strong>the</strong>re is<br />
such a huge potential for solar generated power, such a policy does not make sense." First Solar<br />
commissioned 200 MW projects in India last year, becoming <strong>the</strong> largest foreign seller of solar equipment<br />
in India in <strong>the</strong> thin-film category.<br />
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India has vast win-win commercial potential, says US<br />
US Commerce Secretary John Bryson, who recently led his first trade mission to India, wants America to<br />
"deepen and broaden its commercial engagement with India w<strong>here</strong> <strong>the</strong> win-win potential is vast." "The<br />
only way we will accomplish that is through a foundation of strong person-to-person relationships," he<br />
said in an address at <strong>the</strong> Centre for Strategic & International Studies, a Washington think tank.<br />
"All of us must work toge<strong>the</strong>r to build those bridges," Bryson said calling on "people throughout <strong>the</strong><br />
federal government and <strong>the</strong> private sector" and "Indian-<strong>American</strong> citizens as a whole-a population<br />
which grew nearly 70 percent from 2000 to 2010." But, <strong>the</strong> US official said, <strong>the</strong> US still had "challenges in<br />
regards to transparency, accountability and openness in India.<br />
Though New Delhi "has taken important steps such as supporting <strong>the</strong> use of integrity pacts by<br />
contractors and ratifying <strong>the</strong> UN convention against corruption", <strong>the</strong> US has "continued concerns with<br />
everything from high tariffs, to intellectual property to forced local sourcing in IT and electronics.”It's<br />
clear that we still have hurdles to overcome, but-after this trade mission-I believe more than ever that<br />
we can indeed overcome <strong>the</strong>m," Bryson said.
Noting that as a result of increased demand for innovative products and services, US exports to India<br />
had risen from less than $4 billion in 2001 to over $21 billion last year, he said: "Today, we're building on<br />
that momentum." As India moves forward with its ambitious plan to invest $1 trillion in infrastructure<br />
over <strong>the</strong> next five years, Bryson said <strong>American</strong> companies with deep experience in building<br />
infrastructure in <strong>the</strong> US "can work with India to accomplish its goals." Moving forward, <strong>the</strong> India-US<br />
Commercial Dialogue will focus on areas such as smart grids, intelligent transportation systems, and<br />
sustainable manufacturing, he said.<br />
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US plans to grow trade with India in food products<br />
The US is looking forward to growing trade in food products with India, a senior <strong>American</strong> diplomat said<br />
on Tuesday. In <strong>the</strong> US, we love Indian food. India exported more than $3 billion worth of food to <strong>the</strong> US<br />
in 2011.<br />
Our exports to India of healthy foods grew by 35 percent," said <strong>the</strong> US Charge d'Affaires Peter Burleigh.<br />
"We look forward to seeing this trend continue," Burleigh said in a statement as leading US-based firms<br />
and industry groups took part in <strong>the</strong> four-day food fair, “AAHAR 2012", that began <strong>here</strong> Tuesday. The<br />
California Prune Board, Food Export Association of <strong>the</strong> Midwest USA and Food Export USA North East<br />
and Washington Apple Commission are some of <strong>the</strong> organizations taking part in <strong>the</strong> show.<br />
They are displaying a wide range of food offerings at <strong>the</strong> <strong>American</strong> pavilion, including prunes, apples,<br />
and many o<strong>the</strong>r food products from <strong>the</strong> Sou<strong>the</strong>rn, Midwest and Nor<strong>the</strong>ast states. Allan Mustard,<br />
minister counselor for agricultural affairs at <strong>the</strong> US Embassy, said <strong>the</strong> US presence at <strong>the</strong> fair reflected<br />
<strong>the</strong> Indian consumers' increasing interest for quality food products from <strong>the</strong> US.<br />
US Ambassador-designate Nancy Powell at her confirmation hearing before <strong>the</strong> Senate Foreign Relations<br />
Committee last month said <strong>the</strong> bilateral goods and services trade was expected to cross a record $100<br />
billion this year, an "astounding quadrupling" since 2000.<br />
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Visa rejections disrupt Indian IT operations in US<br />
The US visa restrictions are causing huge disruptions in <strong>the</strong> onsite activities of Indian IT companies. Visa<br />
rejections are at an all-time high and companies are not able to send enough support and maintenance<br />
staff to <strong>the</strong>ir client locations overseas to complete projects on time.<br />
"We promised a client in <strong>the</strong> Bay area that we would be sending 15 people from India to support it<br />
onsite. But we could send only three people, <strong>the</strong> rest were denied visas," said <strong>the</strong> global sales head of an<br />
IT firm in Bangalore who did not want to be named.<br />
He said <strong>the</strong> client was very unhappy because it meant <strong>the</strong>y had to depend on available alternatives,<br />
which were ei<strong>the</strong>r costlier or of poorer quality.<br />
Ano<strong>the</strong>r official of an IT firm said that <strong>the</strong> visa scarcity was compelling Indian companies to hire<br />
additional talent at <strong>the</strong> customer location, paying often as much as 60% more. "It has a direct impact on<br />
our margins. For almost half a dozen clients, we have not been able to meet delivery commitments in<br />
time. On some occasions this even led to heated arguments with <strong>the</strong> clients,'' he said.<br />
A group of domestic and U.S IT firms recently sought <strong>the</strong> intervention of US President Barack Obama to<br />
resolve <strong>the</strong> visa issue. In a letter to Obama, companies including Wipro Technologies, TCS, Cognizant,<br />
HP, Intel, Microsoft, Accenture and many o<strong>the</strong>rs said immigration authorities were exceeding <strong>the</strong> law in
ejecting <strong>the</strong>ir applications for L1 visas, which are used for intracompany transfers of employees from<br />
foreign offices to US offices.<br />
Between 2005 and 2007, <strong>the</strong> denial rate for L1 petitions ranged from 6 to 7%; in 2008 it rose to 22% and<br />
reached 27% in 2011. L1 is a visa given for intracompany transfers of specialist talent. "But what is<br />
understood as specialization by Indian companies is often not understood by <strong>the</strong> US consulates. So <strong>the</strong>re<br />
is always this perception difference,'' said an immigration consultant at a leading IT firm.<br />
At <strong>the</strong> same time, companies are very eager to secure L1 visas, as <strong>the</strong>y are almost 50% cheaper than H1<br />
visas. An L1 visa costs $2,300 (end to end cost for application to work permit), while it is $5,300 for an<br />
H1 visa, which comes with an annual quota of 65,000.<br />
But some blame <strong>the</strong> Indian companies. "L1 is an austerity measure for companies today. They apply for<br />
L1 visas even when <strong>the</strong>y require H-1 B visas. The consulates are aware of all <strong>the</strong>se Indian tricks.<br />
Rejections happen due to this too," said Pradip Tukral, a visa consultant.<br />
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US officials coming to India for talks on investment pact<br />
US officials would soon travel to India for talks on Bilateral Investment Treaty (BIT), a top trade official<br />
has said, hoping <strong>the</strong> talks would conclude soon. “We are travelling to India in <strong>the</strong> next several weeks for<br />
<strong>the</strong> next meeting of BIT,” US Trade Representative, Mr. Ron Kirk, told lawmakers during a Congressional<br />
hearing on Wednesday.<br />
Responding to <strong>the</strong> questions from <strong>the</strong> lawmakers, Mr. Kirk said <strong>the</strong> US would soon develop a new BIT<br />
model, and is in talks with a range of countries for bilateral investment treaties. “We have, in fact,<br />
intensified our engagement, at <strong>the</strong> same time though, with important potential partners like India and<br />
China. We’ve built on <strong>the</strong> successful visits of Prime Minister (Manmohan) Singh to <strong>the</strong> US and (<strong>the</strong> US)<br />
President (Barack) Obama to India, for example,” he said.<br />
“And (we have) got India to agree to a more robust engagement. We had one session in India, in<br />
December. We are travelling to India within <strong>the</strong> next several weeks for <strong>the</strong> next meeting of BIT. “We’ve<br />
had over five sessions with China. We concluded a BIT with Rwanda, and we hope to again conclude <strong>the</strong><br />
model BIT within <strong>the</strong> very near future that will allow us to go forward more aggressively,” Kirk said.<br />
Earlier Congressman Wally Herger said that US should be pursuing BITs to help ensure that US<br />
investments abroad are protected from arbitrary government actions and discrimination, fur<strong>the</strong>r paving<br />
<strong>the</strong> way for US exports to reach foreign markets. “Almost 3,000 BITs have been concluded worldwide,<br />
yet <strong>the</strong> US is party to only about 40 of <strong>the</strong>m. Those numbers demonstrate <strong>the</strong> extent to which US<br />
businesses and <strong>the</strong>ir workers are being left behind in <strong>the</strong> global economy,” Herger said.<br />
“Unfortunately <strong>the</strong> administration has announced no new plans for bilateral investment treaties since<br />
2009 and <strong>the</strong> existing negotiation on China, India and Mauritius Bilateral Investment Treaties have been<br />
on hold for over three years because <strong>the</strong> administration has not been able to conclude a review of <strong>the</strong><br />
US model that you used to negotiate BIT,” he said.<br />
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India ready to address concerns of <strong>American</strong> businesses: FM<br />
Seeking to allay apprehensions on <strong>the</strong> proposed retrospective tax amendment, Indian Finance Minister<br />
Pranab Mukherjee on April 21 said India is ready to address concerns of <strong>the</strong> <strong>American</strong> businesses within<br />
its legal framework.
“Our policies are transparent … whenever <strong>the</strong>re is any misapprehension, we are ready to listen to <strong>the</strong>m<br />
and readjust it when it is necessary. “T<strong>here</strong>fore, we are not having any fixed mind with respect to a<br />
particular issue, but what is to be done has to be done within <strong>the</strong> legal system and legal framework,” he<br />
said at a think-tank <strong>here</strong> responding to <strong>the</strong> concerns of <strong>the</strong> US industry.<br />
“They (US businesses) have some doubt whe<strong>the</strong>r <strong>the</strong> tax regime in India is stable or not. It is stable. Even<br />
<strong>the</strong> current amendment, which is being debated, I have explained it that <strong>the</strong> nature of <strong>the</strong> amendment,<br />
which I have introduced, is of clarificative nature and not substantive amendments in <strong>the</strong> contents of<br />
<strong>the</strong> law,” he said.<br />
“One question comes to <strong>the</strong> mind that when you are giving retrospective effect to <strong>the</strong> law from <strong>the</strong> date<br />
of enactment of <strong>the</strong> Income Tax Act, 1962, can <strong>the</strong> income tax cases be opened since 1962, <strong>the</strong> answer<br />
is no. “Because <strong>the</strong>re are o<strong>the</strong>r provisions in <strong>the</strong> Income tax Act itself, according to which no case can be<br />
reopened which is more than six years old,” he said.<br />
“T<strong>here</strong>fore, <strong>the</strong>re is no uncertainty and attempt is being made to give certainty… Secondly <strong>the</strong><br />
investment decision is not taken merely whe<strong>the</strong>r <strong>the</strong>re is tax concession or not.” He was answering<br />
questions at <strong>the</strong> Peter G. Peterson Institute for International Economics, which had organized an event<br />
jointly with <strong>the</strong> Confederation of Indian Industry (CII).<br />
Mukherjee was addressing concerns expressed in <strong>the</strong> US, including by Treasury Secretary Timothy<br />
Geithner, that <strong>the</strong> proposed amendment to <strong>the</strong> IT Act to reopen <strong>the</strong> Vodafone case has dampened<br />
enthusiasm over investment in India. But, he said, before readjusting decisions <strong>the</strong> government must be<br />
convinced on <strong>the</strong> necessity of such a change.<br />
Responding to a question, he said <strong>the</strong> current sense of “despondency” is mainly because of <strong>the</strong>ir<br />
“misapprehension”. T<strong>here</strong> are 10 legislative amendments, he has proposed in his budget, he said.<br />
“What is <strong>the</strong> size of <strong>the</strong> market? Whe<strong>the</strong>r <strong>the</strong>re are systems which are transparent and tested and<br />
thirdly what is <strong>the</strong> purchasing power of <strong>the</strong> people. From <strong>the</strong>se entire stand points, India is a good<br />
investment destination, so <strong>the</strong>refore <strong>the</strong>re should not be any apprehension,” Mukherjee said.<br />
Mukherjee said <strong>the</strong> relationship between <strong>the</strong> two countries is expanding and is very much on <strong>the</strong> right<br />
track. It is all comprehensive. Hardly <strong>the</strong>re is any area w<strong>here</strong> <strong>the</strong>re is no interaction with <strong>the</strong> US. “In all<br />
area, our strategic partnership is becoming comprehensive.<br />
T<strong>here</strong>fore I do feel that in coming years our relationship would move from strength to strength,” he<br />
said. “Our strategic global partnership with <strong>the</strong> United States is truly transformational in nature. We are<br />
not only discussing issues such as strategic cooperation, counter- terrorism, defense, high technology,<br />
civil nuclear and space sector cooperation but also a broad range of development issues that directly<br />
and positively impact our citizens,” he said in his remarks earlier.<br />
Mukherjee announced that <strong>the</strong> India-US Economic dialogue would be held in June this year. During his<br />
meeting with Geithner, he extended <strong>the</strong> invitation to <strong>the</strong> latter to come to New Delhi.<br />
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U.S. challenges India poultry ban at WTO<br />
The United States on Tuesday began action at <strong>the</strong> World Trade Organization to open India's market for<br />
poultry meat and eggs, saying an Indian ban on U.S. imports intended to stop <strong>the</strong> spread of bird flu was<br />
not based on sound science.<br />
"The United States is <strong>the</strong> world's leader in agricultural safety and we are confident that <strong>the</strong> WTO will<br />
confirm that India's ban is unjustified," U.S. Trade Representative Ron Kirk said in a statement on <strong>the</strong><br />
U.S. request for consultations.<br />
India's ban in <strong>the</strong> name of protecting local poultry producers from losses caused by avian influenza is<br />
"clearly a case of disguising trade restrictions by invoking unjustified animal health concerns," Kirk said.<br />
The U.S. poultry industry welcomed <strong>the</strong> move, which <strong>the</strong>y said could pry open a market for U.S. poultry<br />
exports conservatively valued at more than $300 million. "In our view, India's posture is thinly guised<br />
protectionism," Jim Sumner, president of <strong>the</strong> U.S. Poultry and Egg Export Council, said in a statement.<br />
"More than 100 countries ... enjoy chicken imported from <strong>the</strong> United States. As <strong>the</strong> middle class in India<br />
continues to expand, and <strong>the</strong> market moves more toward commercial poultry, <strong>the</strong> United States should<br />
be afforded <strong>the</strong> opportunity to compete fairly with our products in this growing market," Mike Brown,<br />
president of <strong>the</strong> National Chicken Council, added.<br />
U.S. officials said international scientific standards for controlling avian influenza do not support banning<br />
imports due to low pathogenic avian influenza, which is <strong>the</strong> only type detected in <strong>the</strong> United States<br />
since 2004.<br />
"The United States has repeatedly asked India to justify its claim that a ban on poultry products from <strong>the</strong><br />
United States is necessary. However, to date, India has not provided valid, scientifically-based<br />
justification for <strong>the</strong> import restrictions," U.S. Agriculture Secretary Tom Vilsack said. The United States is<br />
<strong>the</strong> world's largest broiler meat producer and second largest exporter, behind Brazil.<br />
India's broiler meat consumption has risen from 2.23 million metric tons in 2007 to a projected 2.75<br />
million this year, according to a U.S. Agriculture Department report. India is forecast to produce about<br />
2.70 million metric tons of broiler meat this year, providing some opportunity for imports, <strong>the</strong><br />
Agriculture Department report showed.<br />
Consultations are <strong>the</strong> first step in <strong>the</strong> WTO dispute settlement process and parties are encouraged to<br />
agree to a solution at this stage. If <strong>the</strong> matter is not resolved through consultations, <strong>the</strong> United States<br />
may request <strong>the</strong> establishment of a WTO dispute settlement panel. Litigation at <strong>the</strong> WTO can take one<br />
to two years to conclude.<br />
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India has transformed, Govt. tells new US envoy<br />
The government of India in welcoming <strong>the</strong> new United States ambassador to India, erstwhile India and<br />
South Asia hand, Nancy J. Powell, has said that while India would not be new to her, it would not be <strong>the</strong><br />
same ei<strong>the</strong>r, considering <strong>the</strong> transformational changes India has undergone.<br />
Ambassador Arun Kumar Singh, deputy chief of mission at <strong>the</strong> Indian embassy in Washington, DC,<br />
substituting for Ambassador Nirupama Rao (who was out of town delivering A speech at <strong>the</strong> University<br />
of Indiana) at <strong>the</strong> reception accorded Powell by <strong>the</strong> US-India Business Council, said, "Having served in<br />
India before, and no doubt having observed Transformations taking place in India from her assignments<br />
in <strong>the</strong> neighboring countries (Powell was earlier ambassador to Pakistan and Nepal), it will not be all<br />
new but certainly not all <strong>the</strong> same ei<strong>the</strong>r."
He noted that "a tremendous transformation has taken place in India since her last assignment and what<br />
will no doubt impact her day-to-day experience, <strong>the</strong>re has been path breaking change in <strong>the</strong> dynamics<br />
and substance of India-US relations." Singh said, "Ambassador Powell follows in <strong>the</strong> trail of a<br />
distinguished set of predecessors who have made phenomenal and longstanding contributions to<br />
interpreting India for <strong>the</strong>ir home constituencies, and to participating in dealing with <strong>the</strong> challenges that<br />
India faced as a society and economy."<br />
He recalled that John Kenneth Galbraith had said that "people are <strong>the</strong> common denominator of<br />
progress," and noted that "it is now widely recognized that education and health indicators are among<br />
<strong>the</strong> most reliable signals of development." "And our two countries have made cooperation in higher<br />
education a focus area for activity, with a Higher Education Summit having been held last year and<br />
follow up activity planned for June this year," when <strong>the</strong> third US-India Strategic Dialogue will be held in<br />
Washington.<br />
Singh also noted that ano<strong>the</strong>r predecessor of Powell's, Chester Bowles in his book, A View from New<br />
Delhi, had "spoken of <strong>the</strong> incomplete impressions of <strong>the</strong> short-term visitor, as against a deeper and<br />
more empa<strong>the</strong>tic understanding shown by those who stayed for longer durations."<br />
"Similarly, he had spoken against yielding to <strong>the</strong> short term twists and turns, as against <strong>the</strong> long-term<br />
trend, a message that continues to have relevance today." And Singh added, "<strong>Of</strong> course, Ambassador<br />
(Robert) Blackwill had said in 2003, that "Mo<strong>the</strong>r India," had changed his life forever. Thus, he told<br />
Powell that "as you go back to India, you will find welcoming people, public goodwill, a comprehensive<br />
architecture of engagement, comfort and confidence in <strong>the</strong> relationship, <strong>the</strong> experience of bold and<br />
ambitious undertakings and a proven capacity to work toge<strong>the</strong>r through challenges."<br />
Singh said that "in <strong>the</strong> midst of various issues and differences, <strong>the</strong> genuine warmth and friendship that<br />
people in India have towards <strong>the</strong> US, and <strong>the</strong> deep longstanding people-to-people ties have provided us<br />
a solid foundation."<br />
He predicted that "with nearly three million Indian <strong>American</strong>s in <strong>the</strong> US and more than 100,000 Indian<br />
students, this can only grow stronger," and recalled that Powell in her own testimony before <strong>the</strong> Senate<br />
Foreign Relations Committee on Capitol Hill, during her confirmation hearings, had referred "to <strong>the</strong><br />
people-to-people links and commented that 'our relations are firmly grounded in a set of shared<br />
democratic values and an increasingly shared strategic vision.' Singh said that he would be "remiss if<br />
standing <strong>here</strong> at <strong>the</strong> USIBC, I do not refer to <strong>the</strong> business dimension of <strong>the</strong> partnership," and pointed<br />
out that bilateral trade was growing annually "in double digit figures, with <strong>the</strong> US being India's largest<br />
trading partner at $100 billion, and India being <strong>the</strong> second-fastest growing investor in <strong>the</strong> US economy."<br />
He pointed out that <strong>the</strong> Indian IT sector had contributed $15 billion "to US taxes in <strong>the</strong> last five years<br />
and $1 billion a year as Social Security contributions, and Indian industry has generated hundreds of<br />
thousands of jobs <strong>here</strong>." "US industry has been a long standing partner in <strong>the</strong> Indian growth and<br />
technology process," he added. Singh, thus argued that "much has been achieved," but acknowledged,<br />
"A lot, however, remains to be done," and told Powell, "We hope to keep you busy in <strong>the</strong> coming<br />
months, including, in <strong>the</strong> run-up to <strong>the</strong> Strategic Dialogue <strong>here</strong> in June."<br />
"We look forward to working with you to realize <strong>the</strong> vision of our leaders to make <strong>the</strong> India-US<br />
partnership a defining partnership of <strong>the</strong> 21st century," he added.<br />
Click <strong>here</strong> for index
1,800 students affected by US varsity fraud<br />
More than 1800 Indian students were affected by <strong>the</strong> immigration fraud by <strong>the</strong> Tri-Valley University<br />
(TVU) in <strong>the</strong> US which was shut down in January last year, <strong>the</strong> Government said today. "More than 1800<br />
Indian students were affected by this (immigration) fraud perpetrated by <strong>the</strong> TVU. As per statistics<br />
furnished by <strong>the</strong> US authorities, 766 cases of Indian students of <strong>the</strong> TUV were approved for transfer to<br />
o<strong>the</strong>r universities, while 480 cases are pending for scrutiny and 281 were denied transfer," Minister of<br />
State for HRD D Purandeswari said in a written reply to <strong>the</strong> Lok Sabha.<br />
The Minister also noted that <strong>the</strong> government has taken up <strong>the</strong> issue very seriously with <strong>the</strong> US in order<br />
to protect <strong>the</strong> interests of <strong>the</strong> Indian students <strong>the</strong>re.<br />
"The government has strongly conveyed to <strong>the</strong> US agencies that <strong>the</strong> students, <strong>the</strong>mselves a victim of<br />
fraud, should not be penalized and help responsible for <strong>the</strong> violations committed by <strong>the</strong> University,"<br />
Purandeswari said.<br />
"India has also requested that <strong>the</strong>re should not be mass termination of visas of <strong>the</strong> affected students so<br />
that <strong>the</strong>y do not go out of status and <strong>the</strong> affected students should be given adequate time for transfer<br />
to o<strong>the</strong>r universities or voluntarily return to India without prejudice," she said. The Minister also<br />
informed <strong>the</strong> House that <strong>the</strong> Embassy of India at Washington is keeping in touch with <strong>the</strong> US<br />
Department of Homeland Security to ensure that <strong>the</strong> pending transfer cases of Indian students of <strong>the</strong><br />
San Francisco-based University are considered in a sympa<strong>the</strong>tic manner.<br />
Click <strong>here</strong> for index<br />
Hollywood studios should join hands with Indian companies to succeed <strong>here</strong>: Experts<br />
The debate on whe<strong>the</strong>r homegrown Bollywood production houses and independent studios can<br />
compete with Hollywood studios successfully keeps surfacing from time to time. But it took a new turn<br />
at <strong>the</strong> screen big picture on saturday when a panel of distinguished people from <strong>the</strong> field — reliance big<br />
pictures CEO sanjeev lamba, rose movies head shrishti arya, balaji motion pictures president swati<br />
shetty, UTV motion pictures CEO siddharth roy kapur, motion pictures association India md uday singh<br />
—discussed this topic keenly.<br />
Lamba kickstarted <strong>the</strong> debate by saying that <strong>the</strong> homegrown studios do have a chance of competing<br />
with Hollywood studios. “The reason is that <strong>the</strong> comparative advantages that Hollywood enjoys around<br />
<strong>the</strong> rest of <strong>the</strong> world are not necessarily available in india. We are <strong>the</strong> only country in <strong>the</strong> world w<strong>here</strong><br />
Hollywood makes 5-7% of <strong>the</strong> box-office income for <strong>the</strong>ir products. In almost every o<strong>the</strong>r country, be it<br />
England, France, Germany, Russia, japan, Mexico, <strong>the</strong> Hollywood share is over 40%. The Indian<br />
consumer is a fiercely domestic consumer,” said lamba.<br />
Roy kapur, too agreed with <strong>the</strong> observation. “Hollywood has realized that <strong>the</strong>y are up against a glass<br />
ceiling because Indians want to watch homegrown content. They’ve realized that Hollywood studios<br />
need local support to make local content and grow in India. One way of going about it is doing what<br />
Disney has done with utv. Join hands with a company that is already developing content locally and has<br />
a successful track record,” said roy kapur. The involvement of Hollywood in India isn’t new. It has been<br />
dominating Indian television for nearly two decades now, said lamba, citing <strong>the</strong> examples of star, Sony,<br />
colors, ESPN, cartoon network and o<strong>the</strong>rs.<br />
Singh, however, maintained that <strong>the</strong> television business too took time to figure out. “We dubbed serials<br />
in local languages initially, but that didn’t work. We learnt along <strong>the</strong> way that we need to have content<br />
that will be locally relevant.” Singh also pointed out that despite <strong>the</strong> Hollywood studios coming to India,<br />
one must bear in mind that <strong>the</strong> Indian studios like yash raj films excel entertainment and vinod chopra<br />
films have not stopped making <strong>the</strong> movies <strong>the</strong>y want to produce. “This is a great time to collaborate and
it is a win-win situation for both parties. It’s not a zero-sum game. If <strong>the</strong>se two big industries get<br />
toge<strong>the</strong>r, it will be fantastic for <strong>the</strong> overall progress of storytelling across <strong>the</strong> world,” added singh.<br />
The entry of Hollywood studios in <strong>the</strong> Indian market has it benefits too. This has made India studios<br />
follow <strong>the</strong> international system. “Everybody’s job profile is very clearly demarcated in an international<br />
studio, but we’re still a little myopic in <strong>the</strong> Indian market,” said arya. Shetty believes that Hollywood<br />
studios have also helped open up little pockets for experimentation. “Today, anurag kashyap is going all<br />
<strong>the</strong> way to cannes or some festival. Some studio can actually make it possible for kashyap to co-direct a<br />
movie with tim burton someday. It could be an Indian story made with two different cinematic<br />
sensibilities. And that is something that Hollywood studios could bring to India. At <strong>the</strong> end of <strong>the</strong> day,<br />
it’s not really <strong>the</strong>ir money India is looking for, but <strong>the</strong>ir value,” added shetty.<br />
The growth of homegrown studios has also made sure that Indian films find a wider audience. “So far,<br />
we have been able to take <strong>the</strong>m to <strong>the</strong> south Asian diaspora. Now we want to leverage <strong>the</strong> synergy to<br />
expand to a wider audience,” says roy kapur. Lamba cites examples of kites which was <strong>the</strong> first film to be<br />
released in Latin America, and 3 idiots, which got 900 screens in china. “it is just <strong>the</strong> desire to take your<br />
film as widely out as possible. If you’re going to sit <strong>here</strong> and do your age-old broker business, you’re<br />
going to get a certain result. If you’re going to make <strong>the</strong> effort of actually going out and building offices<br />
and bringing in people who understand <strong>the</strong> international scale, why can’t an Indian company compete<br />
on an equal level?” Asks Lamba.<br />
Click <strong>here</strong> for index<br />
US visa norms ease for Indian tourists, students<br />
Indians renewing visas to <strong>the</strong> US within four years will be exempted from a personal interview.<br />
Announcing this <strong>here</strong> on Wednesday, assistant secretary of state for consular affairs Janice Jacobs said<br />
<strong>the</strong> new rules would apply to visa categories B1, B2, C and D. Jacobs, who is <strong>here</strong> for <strong>the</strong> US-India<br />
consular dialogue, is likely to face New Delhi's concern about <strong>the</strong> growing rate of rejection of Indian<br />
work visas by <strong>the</strong> US.<br />
"This new programme will permit consular officers to waive interviews for some qualified applicants<br />
who are renewing <strong>the</strong>ir visa within 48 months or four years, of expiration of <strong>the</strong>ir previous visa and<br />
within <strong>the</strong> same classification as <strong>the</strong> previous visa," Jacobs said. She clarified that <strong>the</strong>se new rules would<br />
apply "for tourists, business travelers, crew members and for students." "Beginning today, our<br />
consulates in India are introducing a new programme to streamline <strong>the</strong> visa renewal process. Over time,<br />
this programme has <strong>the</strong> potential to benefit hundreds of thousands of visa applicants <strong>here</strong> in India," she<br />
said. However, this may not apply to everyone, who satisfies <strong>the</strong> norms. US consular officers, she said,<br />
would have <strong>the</strong> liberty to call any applicant to appear for an interview in view of security concerns. "So,<br />
maintaining strict security standards in our visa process is a fundamental importance to all of our<br />
citizens. For that reason, our consular officers may request an applicant to appear in person for<br />
interview at any time for any reason during <strong>the</strong> visa application process," she said. According to <strong>the</strong> US<br />
Embassy, more than 670,000 non-immigrant visa applications were processed last year, an 11% increase<br />
from 2010. However, <strong>the</strong>re is a difference between <strong>the</strong> US and India on <strong>the</strong> issuance of L-1 visas, which<br />
are temporary work visas for movement within <strong>the</strong> same company.<br />
Jacobs insisted that India remained on top of <strong>the</strong> list as recipient for employment and work visas. "We<br />
have issued a record number of employment based visa to Indian nationals both in H1B and L category,"<br />
she said. However, James Herman, Minister (Counselor) for Consular Affairs to India, added, "I think <strong>the</strong><br />
positive message <strong>here</strong> is that if you look at employment visas at large, we have issued a record number<br />
of H visas which we believe that lot of L visa categories should have been given H visas.<br />
Click <strong>here</strong> for index
Forthcoming Events<br />
Calendar of IACC Events for 2012<br />
Date Event/Topic Hotel/City/Information<br />
June 19, 2012<br />
IACC Power Breakfast Meeting<br />
with Mr. Jagdeep Kapoor,<br />
Chairman & Managing Director,<br />
Samsika Marketing Consultants<br />
Bay View, Marine Plaza, Marine<br />
Drive, Mumbai.<br />
June 26, 2012<br />
June 26, 2012<br />
July 04, 2012<br />
July 08, 2012<br />
Postponed for August 2012<br />
September 10-14, 2012<br />
September 12-13, 2012<br />
Interactive session with Mr.<br />
Anthony P. Iriti, Director of<br />
Findlay – Hancock County<br />
Economic Development Council,<br />
Ohio, USA.<br />
Read more<br />
Innovation at Breakfast Session-<br />
9 on Scientific Selling Innovation<br />
Read more<br />
<strong>American</strong> Independence Day &<br />
<strong>the</strong> 8th <strong>Indo</strong>-<strong>American</strong> Corporate<br />
Excellence (I-ACE) Awards<br />
Read more<br />
Invitational Business Networking<br />
Golf Tournament<br />
Read more<br />
IACC Fellowship Night<br />
Read more<br />
42 nd International Federation of<br />
Air Traffic Safety Electronics<br />
Associations<br />
Read more<br />
8 th <strong>Indo</strong>-US Economic Summit<br />
Read more<br />
Hotel Savera, Dr. R K Salai,<br />
Chennai 600 004, India<br />
Istana 3, Ista Hotels, Adjacent to<br />
Agha Khan Palace, Yerwada,<br />
Pune, India<br />
Regal Room, Hotel Trident,<br />
Nariman Point, Mumbai, India<br />
Clover greens, Sarjapur,<br />
Bangalore, India<br />
Sovereign – 2, Hotel Le Meridien,<br />
Windsor Place, New Delhi<br />
Hotel Ashok, New Delhi, India<br />
Hotel Le Meridien, New Delhi,<br />
India<br />
Click <strong>here</strong> for index
<strong>Indo</strong>-US Trade Statistics<br />
2011: U.S. Trade in Merchandise goods with India<br />
Month U.S Exports to India U.S Imports from India Balance of Trade<br />
January 2011 1,391.9 1,391.9 1,391.9<br />
February 2011 1,458.4 1,458.4 1,458.4<br />
March 2011 1,714.4 1,714.4 1,714.4<br />
April 2011 1,912.0 3,253.7 -1,341.7<br />
Total 2011 6,536.4 12,837.3 - 6,300.9<br />
2012: U.S. Trade in Merchandise goods with India<br />
Month U.S Exports to India U.S Imports from India Balance of Trade<br />
January 2012 1,524.6 3,109.8 -1,585.2<br />
February 2012 1,503.7 3,027.6 -1,523.9<br />
March 2012 1,715.8 3,364.4 -1.648.6<br />
April 2012 1,792.2 3,335.5 -1,543.2<br />
Total 2012 6,536.4 12,837.3 - 6,300.9<br />
Click <strong>here</strong> for index
<strong>Indo</strong>-US Trade during <strong>the</strong> period January to April 2011<br />
3,500.00<br />
3,000.00<br />
2,500.00<br />
2,000.00<br />
1,500.00<br />
1,000.00<br />
3,164.10<br />
3,253.70<br />
2,229.80<br />
2,532.30<br />
1,912.00<br />
1,714.40<br />
1,391.90 1,458.40<br />
U.S Exports to India<br />
U.S Imports from India<br />
500.00<br />
0.00<br />
Jan-11 Feb-11 Mar-11 Apr-11<br />
<strong>Indo</strong>-US Trade during <strong>the</strong> period January to April 2012<br />
4,000.00<br />
3,500.00<br />
3,000.00<br />
2,500.00<br />
2,000.00<br />
1,500.00<br />
1,000.00<br />
500.00<br />
3,109.80 3,027.60<br />
3,364.40 3,335.50<br />
1,715.801,792.20<br />
1,524.601,503.70 U.S Exports to India<br />
U.S Imports from India<br />
0.00<br />
Jan-12 Feb-12 Mar-12 Apr-12<br />
All figures are in millions of U.S.dollars on a nominal basis, not seasonally adjusted unless o<strong>the</strong>rwise specified. Details may not equal totals<br />
due to rounding.<br />
Click <strong>here</strong> for index
International Trade shows<br />
US Department of Commerce Certified Trade shows in U.S.A<br />
Event Name Date & Location Contact Details<br />
NAFSA 2012 Annual<br />
International Educators'<br />
Conference & Expo<br />
5/27/2012 - 6/1/2012<br />
Houston, TX, United States<br />
Greg Thompson, North Texas<br />
Senior International Trade<br />
Specialist<br />
Phone: 214-712-1932<br />
Greg.Thompson@trade.gov<br />
WINDPOWER 2012 -<br />
Renewable Energy<br />
6/3/2012 - 6/6/2012<br />
Atlanta, GA, United States<br />
Joseph Umoetteh, Lagos<br />
Commercial Specialist<br />
Phone: 234-1-460 3400, Ext<br />
3807<br />
Joseph.Umoetteh@trade.gov<br />
Mark Wells, Trade Event<br />
Programs<br />
Senior International Trade<br />
Specialist<br />
Phone: (202) 482-0904<br />
Mark.Wells@trade.gov<br />
InfoComm International 2012 6/9/2012 - 6/15/2012<br />
Las Vegas, NV, United States<br />
NFPA Conference & Expo 2012 6/11/2012 - 6/14/2012<br />
Las Vegas, NV, United States<br />
Jeff Anthony, <strong>American</strong> Wind<br />
Energy Association<br />
Phone: (202) 383-2500<br />
janthony@awea.org<br />
Tony Pu, Trade Event Programs<br />
International Trade Specialist<br />
Phone: 2024820905<br />
Tony.Pu@trade.gov Meredith<br />
Hoydilla, InfoComm<br />
International<br />
Phone: 703-273-7200 x3760<br />
MHoydilla@infocomm.org<br />
Mahmoud Skhiri, Doha<br />
Senior Commercial Specialist<br />
Phone: 974-4496-6085<br />
Mahmoud.Skhiri@trade.gov<br />
Robert Dunn, Doha<br />
Senior Commercial <strong>Of</strong>ficer<br />
Phone: 974-4496-6739
International Franchise Expo<br />
2012<br />
6/15/2012 - 6/17/2012<br />
New York City, NY, United<br />
States<br />
HBA Global Expo 6/19/2012 - 6/21/2012<br />
New York City, NY, United<br />
States<br />
Annual Meeting and Clinical<br />
Laboratory Exposition of <strong>the</strong><br />
AACC 2012<br />
7/15/2012 - 7/19/2012<br />
Los Angeles, CA, United States<br />
MAGIC Marketplace 8/20/2012 - 8/23/2012<br />
Las Vegas, NV, United States<br />
Robert.Dunn@trade.gov<br />
Muna Farkouh, Amman<br />
Senior Commercial Specialist<br />
Phone: 962-6-590-6057<br />
Muna.Farkouh@trade.gov<br />
Amanda Ayvaz, Trade Event<br />
Programs<br />
International Trade Specialist<br />
Phone: 202-482-0338<br />
Amanda.Ayvaz@trade.gov<br />
Shelby Peterson, Trade Event<br />
Programs<br />
Business and Industry<br />
Specialist<br />
Phone: 202-482-5531<br />
Shelby.Peterson@trade.gov<br />
Tony Pu, Trade Event Programs<br />
International Trade Specialist<br />
Phone: 2024820905<br />
Tony.Pu@trade.gov<br />
Caiti Morris, MAGIC<br />
International<br />
International Woodworking<br />
Machinery & Furniture Supply<br />
Fair-USA® 2012<br />
Great <strong>American</strong> Trucking<br />
Show<br />
8/22/2012 - 8/25/2012<br />
Atlanta, GA, United States<br />
8/23/2012 - 8/25/2012<br />
Dallas, TX, United States<br />
Phone: 310-857-7695<br />
cmorris@MAGIConline.com<br />
Aditi Palli, Trade Event<br />
Programs<br />
International Trade Specialist<br />
Phone: 202-482-3334<br />
Aditi.Palli@trade.gov<br />
Jim Wulfekuhle, International<br />
Woodworking Machinery &<br />
Furniture Supply Fair-USA®<br />
Phone: (404) 693-8333<br />
jamesw@iwfatlanta.com<br />
<strong>Chamber</strong>lain Eke, Lagos<br />
Commercial Specialist<br />
Phone: 234-1-4603414,460<br />
3400, ext.3414,4704694<br />
<strong>Chamber</strong>lain.Eke@trade.gov<br />
Daniel Swart, North Texas<br />
USEAC Director<br />
Phone: 817-684-5355<br />
Daniel.Swart@trade.gov
MINExpo International 2012 9/24/2012 - 9/26/2012<br />
Las Vegas, NV, United States<br />
Graylin Presbury, Trade Event<br />
Programs<br />
Senior International Trade<br />
Specialist<br />
Phone: 202-482-5158<br />
Graylin.Presbury@trade.gov<br />
Moya Phelleps, National<br />
Mining Association<br />
Phone: 202-463-2639<br />
mphelleps@nma.org<br />
Click <strong>here</strong> for index<br />
Major Trade shows in India<br />
Date/ Event Venue/Location Description/ Contact<br />
Empowering SME India<br />
18 May 2012<br />
Sun-n-Sand<br />
Nagpur, Maharashtra, India<br />
Empowering SME India-2012'<br />
road show is a specially<br />
customized platform for SME to<br />
explore business partnerships<br />
options and ideas in domestic &<br />
international markets with<br />
opportunities to present<br />
business project presentations to<br />
panel of bankers, venture<br />
capitalist and private equity<br />
partner who will bring in all <strong>the</strong>ir<br />
expertise and support to help<br />
you develop potential<br />
businesses.<br />
Realty India - New Delhi<br />
18 May 2012<br />
Cloud Connect Bengaluru<br />
24 May 2012- 25 May 2012<br />
Hotel The Royal Plaza<br />
New Delhi, Delhi, India<br />
Nimhans Convention Centre<br />
Bengaluru, Karnataka, India<br />
In view of <strong>the</strong>se imperative<br />
issues and developments in <strong>the</strong><br />
realty sector in India, EPC World<br />
Media group is organizing <strong>the</strong><br />
one day conference Realty India<br />
2012 on 18th May 2012, New<br />
Delhi, India.The Conference is<br />
organized with <strong>the</strong> objective to<br />
guide, promote, share and<br />
highlight <strong>the</strong> strategies,<br />
opportunities in Global & Indian<br />
Reality industry.<br />
Cloud Connect Bengaluru is<br />
known to be <strong>the</strong> most important<br />
show that offers a wide range of<br />
IT related solutions and<br />
equipments which are designed
Roof India<br />
25 May 2012- 27 May 2012<br />
World Children Expo<br />
25 May 2012- 27 May 2012<br />
Agri Intex<br />
30 May 2012- 03 June 2012<br />
Chennai Trade Centre<br />
Chennai, Tamil Nadu, India<br />
Ambience Mall Convention<br />
Centre, Gurgaon<br />
Gurgaon, Haryana, India<br />
CODISSIA Trade Fair Complex<br />
Coimbatore, Tamil Nadu, India<br />
exclusively for <strong>the</strong> IT<br />
professionals. T<strong>here</strong> will over<br />
500 top companies who will be<br />
exhibiting <strong>the</strong>ir services and<br />
products to <strong>the</strong> customers<br />
coming from <strong>the</strong> domestic as<br />
well as from <strong>the</strong> international<br />
region.<br />
Roof India is billed as <strong>the</strong> biggest<br />
roofing sector trade events in<br />
Asia. The show is organized on<br />
an annual basis and boasts of<br />
more than 5000 trade visitors at<br />
each of its editions. Over 150<br />
exhibiting companies take part at<br />
<strong>the</strong> show, displaying an<br />
extensive range of roofing<br />
equipment’s, tensile architecture<br />
items, steel structures,<br />
waterproofing solutions and<br />
o<strong>the</strong>r related products.<br />
World Children Expo is one of<br />
<strong>the</strong> most eagerly anticipated<br />
trade fairs in India. Organized at<br />
<strong>the</strong> Ambience Mall in Gurgaon,<br />
<strong>the</strong> show serves as a convenient<br />
platform for eminent<br />
professionals from <strong>the</strong> kids<br />
FMCG, toys, education,<br />
healthcare and entertainment<br />
sectors to directly interact with<br />
each o<strong>the</strong>r and expand <strong>the</strong>ir<br />
business networks.<br />
Agri Intex ranks among <strong>the</strong> top<br />
agriculture industry related trade<br />
events in India. The show is<br />
organized at <strong>the</strong> Codissia Trade<br />
Fair Complex in Coimbatore and<br />
plays host to a large number of<br />
eminent farm owners,<br />
agronomists, technicians and<br />
o<strong>the</strong>r qualified industry<br />
executives from this sector. The<br />
latest agricultural technologies,<br />
irrigation tools and farm<br />
mechanization accessories are<br />
highlighted during <strong>the</strong> event,<br />
which also serves as an ideal<br />
platform for participating<br />
companies to expand <strong>the</strong>ir<br />
business networks.
Garfab-TX Surat<br />
01 June 2012- 03 June 2012<br />
Fabrics & Accessories Trade<br />
Show<br />
01 June 2012- 03 June 2012<br />
Admissions Fair - Kolkata<br />
02 June 2012- 04 June 2012<br />
Pharmapack Expo<br />
07 June 2012- 09 June 2012<br />
Nirmaan<br />
08 June 2012- 11 June 2012<br />
Surat International Exhibition &<br />
Convention Centre<br />
Surat, Gujarat, India<br />
Gayathri Vihar Palace<br />
Ground, Bengaluru,<br />
Karnataka,India<br />
Kolkata Ice Skating Rink<br />
Kolkata, West Bengal, India<br />
Chennai Trade Centre, Chennai,<br />
Tamil Nadu, India<br />
Milan Mela Ground<br />
Kolkata, West Bengal, India<br />
Garfab-TX Surat is one of <strong>the</strong><br />
premier apparel and textile<br />
industry related trade events in<br />
India. Organized at <strong>the</strong> Surat<br />
International Exhibition And<br />
Convention Center, <strong>the</strong> show<br />
brings in a large number of<br />
qualified and well-targeted<br />
visitors at each of its editions.<br />
Fabrics & Accessories Trade<br />
Show 2012 is India's premier<br />
platform for <strong>the</strong> textile value<br />
chain. The 8th Edition of this<br />
show will provide manufacturers<br />
and suppliers of apparel, fabrics,<br />
trimmings, embellishments and<br />
related services to showcase<br />
<strong>the</strong>ir merchandise to discerning<br />
buyers from across <strong>the</strong> world.<br />
Admissions Fair - Kolkata ranks<br />
among <strong>the</strong> finest learning and<br />
education sector trade events in<br />
India. The show is extremely<br />
popular among students and<br />
<strong>the</strong>ir parents, who throng to <strong>the</strong><br />
show in large numbers in <strong>the</strong>ir<br />
bid to discover ideal career<br />
development paths and higher<br />
education opportunities.<br />
Pharmapack Expo is <strong>the</strong> most<br />
cost effective marketing<br />
opportunity and is also <strong>the</strong> best<br />
opportunity to meet senior<br />
buyer's and decision makers<br />
from all facets of <strong>the</strong> user<br />
industry. This is your chance to<br />
meet <strong>the</strong> people that matter<br />
most to your business - all in one<br />
place, all at one time.<br />
Nirmaan will bring toge<strong>the</strong>r <strong>the</strong><br />
leading companies who are<br />
involved in manufacturing and<br />
designing tools and machineries<br />
which are exclusively produced<br />
for <strong>the</strong> construction and<br />
architectural industry. This show<br />
is <strong>the</strong> most important platform<br />
w<strong>here</strong> <strong>the</strong> exhibitors can relate<br />
to qualified professionals and<br />
collaborate in new partnership<br />
contracts.
ACMEE - International Machine<br />
Tools and Auto Components<br />
Exhibition<br />
14 June 2012- 18 June 2012<br />
Cool Logistics Summit<br />
15 June 2012- 15 June 2012<br />
INDIA PRO PACK<br />
15 June 2012- 17 June 2012<br />
Food & Hospitality World<br />
21 June 2012- 23 June 2012<br />
Hyderabad Jewellery Pearl &<br />
Chennai Trade & Convention<br />
Centre<br />
Chennai, Tamil Nadu, India<br />
JW Marriott Hotel Mumbai<br />
Mumbai, Maharashtra, India<br />
Gujarat University Exhibition<br />
Hall<br />
Ahmedabad, Gujarat, India<br />
Palace Grounds<br />
Bengaluru, Karnataka, India<br />
Hyderabad International Trade<br />
Exposition Centre(HITEX)<br />
Hyderabad, Andhra<br />
ACME-2012 is <strong>the</strong> 10th edition of<br />
<strong>the</strong> fantastic series of events<br />
organized by AIEMA Technology<br />
Centre for <strong>the</strong> machine tools and<br />
auto components industry. The<br />
event will showcase various<br />
innovations made in automobile<br />
and engineering industries over<br />
<strong>the</strong> past few years.<br />
Cool Logistics Summit is a must<br />
attend show for <strong>the</strong> personnel<br />
who are involved in <strong>the</strong> logistics<br />
and packaging market as this<br />
show dedicates itself in providing<br />
<strong>the</strong> best and <strong>the</strong> foremost range<br />
of equipments and instruments<br />
which are designed keeping in<br />
mind <strong>the</strong> developing need of <strong>the</strong><br />
logistics and transportation<br />
industry<br />
INDIA PRO PACK ranks among<br />
<strong>the</strong> finest packaging sector trade<br />
shows in India. The event brings<br />
in several prominent industry<br />
experts and decision makers,<br />
who can deliberate upon <strong>the</strong><br />
latest happenings and market<br />
trends from this sector. More<br />
than 15000 trade visitors<br />
participate in <strong>the</strong> event,<br />
including experienced project<br />
and brand managers, industrial<br />
packaging professionals,<br />
consultancy service providers,<br />
printing experts, researchers and<br />
supply chain executives.<br />
Food and Hospitality World<br />
features among <strong>the</strong> premier<br />
food items and hospitality<br />
industry related trade shows in<br />
India. The show brings toge<strong>the</strong>r a<br />
large number of knowledgeable<br />
industry specialists and<br />
professional experts from this<br />
sector under one roof and<br />
informative panel discussion<br />
sessions are arranged <strong>here</strong>.<br />
Hyderabad Jewelry, Pearl and<br />
Gem Fair ranks as one of <strong>the</strong> top<br />
Indian jewelry sector trade
Gem Fair<br />
22 June 2012- 24 June 2012<br />
INFRA EDUCA - New Delhi<br />
23 June 2012- 24 June 2012<br />
Baicon<br />
29 June 2012- 01 July 2012<br />
ELECXPO<br />
29 June 2012- 01 June 2012<br />
Health & Beauty Expo - Chennai<br />
29 June 2012- 01 July 2012<br />
Pradesh, India<br />
Pragati Maidan, New Delhi,<br />
Delhi,India<br />
Chennai Trade Centre<br />
Chennai, Tamil Nadu, India<br />
Chennai Trade Centre<br />
Chennai, Tamil Nadu, India<br />
Chennai Trade Centre<br />
Chennai, Tamil Nadu, India<br />
events. Organized at <strong>the</strong> HITEX<br />
Exhibition Centre in Hyderabad,<br />
<strong>the</strong> show brings in more than<br />
140 exhibiting participants, from<br />
countries like Thailand, Hong<br />
Kong, Germany, Japan and USA,<br />
along with several top Indian<br />
companies<br />
Infra Educa will showcase <strong>the</strong><br />
entire view of education horizon<br />
& industry. It will provide an<br />
insight into current subjects and<br />
courses available to new<br />
generation students, and throw<br />
light on various schemes and<br />
programmes being offered by<br />
national and international<br />
agencies as well as government<br />
departments.<br />
Baicon is one of <strong>the</strong> most<br />
reputed trade shows for <strong>the</strong><br />
construction industry. This event<br />
will be an extensive display of<br />
<strong>the</strong> latest and <strong>the</strong> most<br />
advanced<br />
equipments,<br />
machinery, technologies and<br />
materials that are related to <strong>the</strong><br />
construction sector.<br />
Elecxpo is one of <strong>the</strong> most<br />
eagerly anticipated electronics<br />
sector trade shows in India. The<br />
show provides an ideal platform<br />
for more than 150 professional<br />
exhibitors to showcase different<br />
types of energy saving and high<br />
utility transformers, generators,<br />
wires and cables, capacitors,<br />
semiconductors, sensors, switch<br />
boards and o<strong>the</strong>r useful<br />
electronics appliances and<br />
accessories<br />
Health & Beauty Expo - Chennai<br />
is one of <strong>the</strong> main fitness and<br />
beauty industry related trade<br />
events in India. The show brings<br />
toge<strong>the</strong>r leading professional<br />
experts and entrepreneurs from<br />
this sector under one roof and<br />
interactive discussions on <strong>the</strong><br />
latest product developments and<br />
innovations are regularly held
Agri & Horti Tech<br />
05 July 2012- 08 July 2012<br />
Sign India - Chennai<br />
06 July 2012- 08 July 2012<br />
Wood Tech India<br />
06 July 2012- 08 July 2012<br />
Global Summit cum Exhibition on<br />
Green Revolution<br />
11 July 2012- 11 July 2012<br />
Vijaya Fair Grounds<br />
Coimbatore, Tamil Nadu, India<br />
Chennai Trade Centre<br />
Chennai, Tamil Nadu, India<br />
Chennai Trade Centre<br />
Chennai, Tamil Nadu, India<br />
Hotel Shangri-La<br />
New Delhi, Delhi, India<br />
<strong>here</strong>.<br />
Agri & Horti Tech is one of <strong>the</strong><br />
most eagerly anticipated trade<br />
events in India that focuses<br />
solely on <strong>the</strong> agriculture and<br />
horticulture industry of <strong>the</strong><br />
region. Organized at Vijaya Fair<br />
Grounds Coimbatore, India, this<br />
show covers a vast exhibition<br />
area to help <strong>the</strong> exhibitors<br />
display <strong>the</strong>ir innovative products<br />
and services such as seed, grains<br />
and seedlings, refrigerated van<br />
and trucks, soil testing<br />
equipment, grading and sorting<br />
machinery with convenience and<br />
get instant feedback from <strong>the</strong><br />
visitors.<br />
Sign India - Chennai is one of <strong>the</strong><br />
most comprehensive trade<br />
events in India, dedicated<br />
exclusively to <strong>the</strong> signage sector.<br />
The event is organized at <strong>the</strong><br />
Chennai Trade Center and is<br />
attended by more than 40000<br />
qualified visitors at each of its<br />
editions.<br />
Wood Tech India ranks among<br />
<strong>the</strong> finest woodworking industry<br />
related trade events in India. The<br />
show serves up convenient<br />
corporate interaction<br />
opportunities for a large<br />
contingent of experienced<br />
business experts from this sector<br />
and all <strong>the</strong> latest industry trends<br />
and innovations are closely<br />
examined <strong>here</strong>.<br />
ASSOCHAM - YES BANK in<br />
collaboration with <strong>the</strong> ministry<br />
of Agriculture and Food<br />
Processing Industries, is<br />
organizing 4th Global Summit<br />
cum Exhibition on Second Green<br />
Revolution on July 11th, 2012 at<br />
Hotel Shangri- La, New Delhi in<br />
<strong>the</strong> gracious presence of Shri.<br />
Sharad Pawar, Honble Minister<br />
of Agriculture & Food Processing<br />
Industries.
India Auto Expo<br />
12 July 2012- 15 July 2012<br />
Indian Fashion Jewelry &<br />
Accessories Show (IFJAS)<br />
13 July 2012- 15 July 2012<br />
Travel & Tourism Fair-Kolkata<br />
13 July 2012- 15 July 2012<br />
India International Garment Fair<br />
16 July 2012- 18 July 2012<br />
India International Build Expo<br />
Chennai<br />
20 July 2012- 22 July 2012<br />
Chennai Trade Centre<br />
Chennai, Tamil Nadu, India<br />
India Expo Centre and Mart<br />
Greater Noida, Uttar<br />
Pradesh, India<br />
Netaji <strong>Indo</strong>or Stadium, Kolkata,<br />
West Bengal, India<br />
Pragati Maidan, New Delhi,<br />
Delhi, India<br />
Chennai Trade & Convention<br />
Centre<br />
Chennai, Tamil Nadu, India<br />
India Auto Expo 2012 serves to<br />
<strong>the</strong> perfect meeting place w<strong>here</strong><br />
<strong>the</strong> attendees get to come face<br />
to face with <strong>the</strong> renowned<br />
companies in <strong>the</strong> entire region.<br />
The participants get to<br />
streng<strong>the</strong>n <strong>the</strong>ir relationships<br />
with <strong>the</strong> customers and reach<br />
out to new buyers in a single go<br />
Indian Fashion Jewelry &<br />
Accessories Show ranks among<br />
<strong>the</strong> premier jewelry and fashion<br />
accessories sector trade shows in<br />
India. This is <strong>the</strong> 5th edition of<br />
<strong>the</strong> show witnesses <strong>the</strong> presence<br />
of an impressive number of top<br />
level business executives and<br />
professional experts from this<br />
sector.<br />
Travel & Tourism Fair Kolkata<br />
(TTF Kolkata) is India's leading<br />
exhibition for <strong>the</strong> travel &<br />
tourism industry. Since 1989,it<br />
provides an annual opportunity<br />
for organizations from India and<br />
abroad to showcase <strong>the</strong>ir<br />
products and services to a large<br />
cross section of <strong>the</strong> travel trade<br />
and consumers across major<br />
markets in India.<br />
The Apparel Export Promotion<br />
Council is <strong>the</strong> most important<br />
nodal agencies under <strong>the</strong> aegis<br />
of Ministry of Textiles,<br />
Government of India for<br />
promotion of apparel exports.<br />
The Council organizes<br />
international garment fairs in<br />
India in alliance with four major<br />
Garment Exporters' Associations<br />
since 1988.<br />
India International Build Expo is<br />
one of <strong>the</strong> largest Indian trade<br />
events, dedicated exclusively to<br />
<strong>the</strong> construction and building<br />
sector. The show is instrumental<br />
in helping qualified professionals<br />
from this sector to exchange<br />
topical industry information.
Travel & Tourism Fair -<br />
Hyderabad<br />
20 July 2012- 22 July 2012<br />
IndiaMART AMTEX<br />
27 July 2012- 30 July 2012<br />
AGRO INDIA EXPO<br />
03 August 2012- 05 August 2012<br />
Media Expo-Delhi<br />
04 August 2012- 06 August 2012<br />
Yousufguda <strong>Indo</strong>or<br />
Stadium, Hyderabad, Andhra<br />
Pradesh, India<br />
Bandra Kurla Complex<br />
Mumbai, Maharashtra, India<br />
Hotel Clarks Inn Grand<br />
Gorakhpur, Uttar Pradesh, India<br />
Pragati Maidan<br />
New Delhi, Delhi, India<br />
Hyderabad will provide lots of<br />
benefits to all <strong>the</strong> professionals<br />
linked to travel and tourist<br />
industry. The visitors of <strong>the</strong><br />
event will interact with world<br />
class exhibitors and will be able<br />
to know about <strong>the</strong> products and<br />
services offered by <strong>the</strong>m.<br />
India Mart Amtex is one of <strong>the</strong><br />
most comprehensive industrial<br />
manufacturing sector trade<br />
shows in India. The show ensures<br />
easy exchange of relevant<br />
information among <strong>the</strong> qualified<br />
industry professionals who<br />
attend <strong>the</strong> show in large<br />
numbers at each of its editions.<br />
Over 10000 visitors take part in<br />
<strong>the</strong> event, including technical<br />
specifiers, engineering experts,<br />
metalworking professionals and<br />
industry decision makers<br />
AGRO INDIA EXPO is a highly<br />
anticipated exposition catering<br />
to <strong>the</strong> sectors of agriculture,<br />
poultry, dairy, food and<br />
horticulture. The event is<br />
scheduled to take place in <strong>the</strong><br />
city of Gorakhpur in Uttar<br />
Pradesh, India. Around 53<br />
exhibitors and 1200 visitors from<br />
various regions in <strong>the</strong> state and<br />
from o<strong>the</strong>r states will be marking<br />
<strong>the</strong>ir calendars for <strong>the</strong> three day<br />
event.<br />
Media Expo-Delhi is one of <strong>the</strong><br />
most eagerly anticipated Indian<br />
trade shows, dedicated<br />
exclusively to <strong>the</strong> advertising and<br />
signage sector. Organized at <strong>the</strong><br />
Pragati Maidan, <strong>the</strong> show is<br />
attended by more than 250<br />
professional exhibitors,<br />
displaying a large array of<br />
signage tools, LED displays,<br />
packaging solutions, printing and<br />
allied machinery, pre-press tools,<br />
signage raw materials,<br />
promotional materials and<br />
imaging equipment’s, along with<br />
several o<strong>the</strong>r associated
Garfab Ahmedabad<br />
04 August 2012- 06 August 2012<br />
Process Engineering Expo<br />
23 August 2012- 25 August 2012<br />
HITEX International Machine<br />
Tool Expo<br />
23 August 2012- 26 August 2012<br />
BACE Expo (Building<br />
Architectural Construction &<br />
Engineering Symposium & Trade<br />
Show Kolkata)<br />
24 August 2012- 26 August 2012<br />
MMRDA Exhibition Center,<br />
Mumbai, Maharashtra, India<br />
Hyderabad International Trade<br />
Exposition Centre(HITEX)<br />
Hyderabad, Andhra<br />
Pradesh, India<br />
Hyderabad International Trade<br />
Exposition Centre(HITEX)<br />
Hyderabad, Andhra<br />
Pradesh, India<br />
Milan Mela Ground<br />
Kolkata, West Bengal, India<br />
products.<br />
Garfab - Ahmedabad ranks<br />
among <strong>the</strong> leading fabrics and<br />
apparel sector trade shows in<br />
India. Organized at <strong>the</strong><br />
University Exhibition Hall, <strong>the</strong><br />
show is boosted by <strong>the</strong> presence<br />
of over 3000 visitors and a select<br />
contingent of eminent decision<br />
makers from this sector.<br />
Process Engineering Expo<br />
features among <strong>the</strong> prime<br />
industrial sector trade shows in<br />
India. The show serves as an<br />
ideal platform for noted<br />
professional experts and decision<br />
makers from this sector to<br />
interact with each o<strong>the</strong>r and<br />
deliberate upon <strong>the</strong> latest<br />
industry trends and updates.<br />
International Flora Expo 2010 is<br />
<strong>the</strong> South Asia's largest event for<br />
Floriculture, Gardening, Floristry<br />
& Green House Technology.<br />
International Flora Expo will be a<br />
meeting point for <strong>the</strong> flower<br />
growers, importers & exporters<br />
of flower etc.<br />
BACE Expo (Building<br />
Architectural Construction &<br />
Engineering Symposium & Trade<br />
Show Kolkata) ranks among <strong>the</strong><br />
finest construction and<br />
architecture industry related<br />
trade shows in India.<br />
SPA, WELLNESS & POOL EXPO<br />
24 August 2012- 26 August 2012<br />
Agritech Asia-Gujarat<br />
03 September 2012- 06<br />
September 2012<br />
Shree Kanteevera <strong>Indo</strong>or<br />
Stadium<br />
Bengaluru, Karnataka, India<br />
Mahatma Mandir<br />
Gandhinagar, Gujarat, India<br />
Spa, Wellness and Pool Expo<br />
ranks among <strong>the</strong> key spa and<br />
wellness sector trade events in<br />
India. The show serves as a grand<br />
business interaction platform for<br />
a large contingent of qualified<br />
industry personnel and decision<br />
makers from this sector.<br />
Agritech Asia-Gujarat is one <strong>the</strong><br />
premier trade shows in India that<br />
is concerned with <strong>the</strong> sector of<br />
agriculture. Held over a period of<br />
three days, renowned companies
India Hospitality Expo<br />
06 September 2012- 09<br />
September 2012<br />
Automation Mumbai<br />
07 September 2012- 10<br />
September 2012<br />
Electronica India and<br />
Productronica India<br />
11 September 2012- 13<br />
September 2012<br />
International Foodtec India<br />
11 September 2012- 13<br />
September 2012<br />
GOA EXPO CENTRE<br />
Goa, India<br />
Bombay Exhibition Center(BEC)<br />
Mumbai, Maharashtra, India<br />
Bangalore International<br />
Exhibition Centre (BIEC)<br />
Bengaluru, Karnataka, India<br />
Malda College Auditorium,<br />
Malda, West Bengal,India<br />
will exhibit <strong>the</strong> latest agricultural<br />
equipments and technology such<br />
as agricultural equipment and<br />
machinery, livestock, dairy<br />
farming, renewable energy and<br />
o<strong>the</strong>r associated products and in<br />
this process will be able to<br />
interact directly with <strong>the</strong><br />
customers on a common<br />
platform<br />
India Hospitality Expo is one of<br />
<strong>the</strong> most eagerly anticipated<br />
hospitality sector trade shows in<br />
India. Organized at Goa, <strong>the</strong><br />
event is attended by more than<br />
5000 visitors and topical<br />
discussions on <strong>the</strong> latest industry<br />
developments and updates are<br />
regularly held <strong>here</strong>. A special<br />
Wine and Spirit Tasting event is<br />
organized during <strong>the</strong> show, in a<br />
bid to provide greater exposure<br />
to <strong>the</strong> domestic wine industry.<br />
Automation India is one of <strong>the</strong><br />
most comprehensive automation<br />
technology industry related<br />
trade shows in India. The event is<br />
held at Mumbai and provides<br />
ample opportunities for<br />
participants to update<br />
<strong>the</strong>mselves regarding <strong>the</strong> latest<br />
updates and technological<br />
innovations from this sector.<br />
Electronica India and<br />
Productronica India ranks as one<br />
of <strong>the</strong> prime electrical industry<br />
related trade shows in India. The<br />
event goes a long way in helping<br />
participants get acquainted with<br />
all <strong>the</strong> latest industry<br />
developments and updates from<br />
this sector.<br />
The first ever educational career<br />
fair going to be held in Malda.<br />
Share <strong>the</strong> news with your friends<br />
and family. The students from<br />
Malda and neighboring districts<br />
will get <strong>the</strong> opportunities to<br />
meet <strong>the</strong> colleges / institutions<br />
from different part of India and<br />
ask <strong>the</strong>ir queries before <strong>the</strong>y sit
CONNEX India<br />
12 September 2012- 15<br />
September 2012<br />
Fastener Convention<br />
15 September 2012- 16<br />
September 2012<br />
Auto Fair<br />
20 September 2012- 23<br />
September 2012<br />
Intermodal India<br />
25 September 2012- 27<br />
September 2012<br />
India Expo Centre and Mart<br />
Greater Noida, Uttar<br />
Pradesh, India<br />
Sanskar Kendra<br />
Ahmedabad, Gujarat, India<br />
Maniram Dewan Trade Centre<br />
Guwahati, Assam, India<br />
Bombay Exhibition Center(BEC)<br />
Mumbai, Maharashtra, India<br />
for <strong>the</strong>ir exams.<br />
CONNEX India will bring toge<strong>the</strong>r<br />
large number of exhibitors from<br />
<strong>the</strong> construction equipment<br />
industry. As per trade reports,<br />
<strong>the</strong> real estate sector is growing<br />
at rapid pace in India and <strong>the</strong><br />
construction equipments and<br />
technologies are much in<br />
demand among <strong>the</strong> customers<br />
<strong>the</strong>re.<br />
Fastener Convention will provide<br />
a platform w<strong>here</strong> buyers and<br />
sellers should mutually discuss<br />
and exchange <strong>the</strong>ir views and<br />
business needs; Fastener<br />
Convention provides an<br />
opportunity for all industrial and<br />
automotive fastener<br />
professionals to present latest<br />
products and technology.<br />
Fastener Convention represents<br />
<strong>the</strong> entire supply chain of <strong>the</strong><br />
fastener industry; it offers<br />
manufacturers and suppliers of<br />
industrial and automotive<br />
fastener technologies to meet<br />
with, buyers, suppliers,<br />
distributors and industry<br />
experts.<br />
Auto Fair is one of <strong>the</strong> leading<br />
trade shows in India, dedicated<br />
exclusively to <strong>the</strong> automobile<br />
industry. The show serves as an<br />
ideal business communication<br />
channel for eminent professional<br />
experts, dealers and o<strong>the</strong>r senior<br />
corporate personnel from this<br />
sector. With more than 15000<br />
visitors, <strong>the</strong> show ranks among<br />
<strong>the</strong> most well attended trade<br />
events of its kind in <strong>the</strong> country.<br />
Intermodal India is one of those<br />
unique shows which assembles<br />
all <strong>the</strong> elite professionals and<br />
qualified experts of <strong>the</strong><br />
transportation and logistics<br />
industry on a common platform<br />
to give a huge exposure to <strong>the</strong><br />
entire sector in <strong>the</strong> international<br />
arena and explore <strong>the</strong> feasible
Annapoorna - World of Food<br />
India<br />
26 September 2012- 28<br />
September 2012<br />
TECHNOTEX INDIA<br />
27 September 2012- 29<br />
September 2012<br />
Delhi Build<br />
27 September 2012- 30<br />
September 2012<br />
India Manufacturing Show 2012<br />
27 September 2012- 30<br />
September 2012<br />
Watertech Bangalore<br />
28 September 2012- 30<br />
September 2012<br />
Bombay Exhibition Center (BEC)<br />
Mumbai, Maharashtra, India<br />
MMRDA Exhibition Center<br />
Mumbai, Maharashtra, India<br />
Pragati Maidan<br />
New Delhi, Delhi, India<br />
Bangalore International<br />
Exhibition Centre (BIEC)<br />
Bengaluru, Karnataka, India<br />
Palace Grounds<br />
Bengaluru, Karnataka, India<br />
opportunities prevailing in <strong>the</strong><br />
market.<br />
Annapoorna - World of Food<br />
India is a one stop solution for<br />
<strong>the</strong> food industry professionals<br />
and traders as <strong>the</strong>y get to come<br />
across an advanced technology<br />
aided processing equipments<br />
and refining instruments so that<br />
<strong>the</strong> food industry is extensively<br />
benefited.<br />
TECHNOTEX INDIA is <strong>the</strong> 2nd<br />
International Exhibition &<br />
Conference on Technical Textile<br />
is being organized by Ministry of<br />
Textiles, Govt. of India in<br />
association with Federation of<br />
Indian <strong>Chamber</strong>s of Commerce &<br />
Industry (FICCI) and supported<br />
by Indian Technical Textile<br />
Association (ITTA).<br />
Delhi Build ranks as one of <strong>the</strong><br />
most professionally organized<br />
construction sector trade events<br />
in India. Organized at <strong>the</strong> Pragati<br />
Maidan at Delhi, <strong>the</strong> show is<br />
attended by more than 3000<br />
qualified visitors<br />
Occupying a pride of place in<br />
Bangalore's list of prestigious<br />
trade fairs, <strong>the</strong> India<br />
Manufacturing Show is a unique<br />
event w<strong>here</strong> national and<br />
international manufacturing and<br />
engineering<br />
Watertech is one of <strong>the</strong> chief<br />
water technology related trade<br />
fairs in India. The show brings in<br />
a large contingent of industry<br />
experts from multiple sectors,<br />
including <strong>the</strong> recycling,<br />
construction, mining, quarrying,<br />
food and beverage and o<strong>the</strong>r<br />
related sectors.<br />
Click <strong>here</strong> for index
Major Trade shows in U.S.A<br />
Event Name & Date Event Description Event Venue/Location details<br />
World Tea Expo<br />
01-JUN-12 to 03-JUN-12<br />
Gem Faire-Tulsa<br />
01-JUN-12 to 03-JUN-12<br />
The National Franchise &<br />
Business Opportunities Show-<br />
Houston<br />
02-JUN-12 to 03-JUN-12<br />
NW Trend Show<br />
03-JUN-12 to 05-JUN-12<br />
Electronic Entertainment Expo<br />
05-JUN-12 to 07-JUN-12<br />
The World Tea Expo is <strong>the</strong> first<br />
and fastest growing North<br />
<strong>American</strong> trade show dedicated<br />
solely to <strong>the</strong> tea industry?<br />
Attracting more than 4,500<br />
leading tea professionals,<br />
merchandisers, R&D executives,<br />
scientists and entrepreneurs<br />
annually.<br />
Gem Faire-Tulsa will be one of<br />
<strong>the</strong> biggest events for <strong>the</strong><br />
professionals of Jewelry and<br />
gems. The event will showcase<br />
many products and services<br />
related to jewelry industry like<br />
gemstones, beads, jewelry,<br />
minerals, fossils, meteorites,<br />
lapidary equipment,<br />
metaphysical items and much<br />
more at <strong>the</strong> lowest prices<br />
available in today's market.<br />
The Franchise and Business<br />
Opportunities Expo returns to<br />
Houston April 16th & 17th at<br />
<strong>the</strong> Reliant Park. See proven full<br />
and part time business<br />
opportunities and talk face to<br />
face with company<br />
representatives, attend free<br />
educational seminars, learn<br />
about <strong>the</strong> different investment<br />
levels and decide which<br />
opportunity is right for you<br />
NW Trend Show is an event,<br />
which is organized every year<br />
on a regular basis. The event<br />
will be fully devoted to <strong>the</strong><br />
industry related to fashion and<br />
clothing. It exhibits a wide range<br />
of top most designs of fashion<br />
& accessories<br />
The most well-known event<br />
linked to video games and<br />
computer associated products.<br />
The expo will carry jointly <strong>the</strong><br />
lots of games & computer<br />
products for <strong>the</strong> interested<br />
Las Vegas Convention Center, Las<br />
Vegas, Nevada, United States <strong>Of</strong><br />
America<br />
Tulsa Expo Square, Tulsa,<br />
Oklahoma, United States <strong>Of</strong><br />
America<br />
Houston Reliant Park Center,<br />
Houston, Texas, United States <strong>Of</strong><br />
America<br />
Bellevue Hilton Hotel, Bellevue,<br />
Washington, United States <strong>Of</strong><br />
America
BookExpo America<br />
05-JUN-12 to 07-JUN-12<br />
Sensors Expo<br />
06-JUN-12 to 07-JUN-12<br />
New York Shoe Expo<br />
06-JUN-12 to 08-JUN-12<br />
The International Gem &<br />
Jewelry Show Denver<br />
08-JUN-12 to 10-JUN-12<br />
<strong>American</strong> Gem Expo-Memphis<br />
09-JUN-12 to 10-JUN-12<br />
IBS Las Vegas<br />
09-JUN-12 to 11-JUN-12<br />
visitors. The Expo 2012 will<br />
assist <strong>the</strong> attendees to build<br />
business link with each o<strong>the</strong>r.<br />
Visitors from all over <strong>the</strong> globe<br />
will come to attend.<br />
Book Expo America, <strong>the</strong> preeminent<br />
event for <strong>the</strong> business<br />
of books in all formats, and <strong>the</strong><br />
products, services and<br />
education that supports <strong>the</strong><br />
buyers and sellers of books<br />
Sensor Expo and Conference<br />
has <strong>the</strong> unique distinction of<br />
being <strong>the</strong> sole event of this<br />
industry in North America. The<br />
event showcases sensors,<br />
sensor integrated systems,<br />
technical innovations etc.<br />
New York Shoe Expo occupies a<br />
pride of place as one of <strong>the</strong><br />
most anticipated trade show<br />
events, related to <strong>the</strong> footwear<br />
industry. The event draws in a<br />
large number of exhibiting<br />
participants, and a wide array of<br />
sophisticated, fashionable and<br />
chic footwear items are<br />
showcased at <strong>the</strong> expo.<br />
The International Gem &<br />
Jewelry Show Denver is one of<br />
<strong>the</strong> leading and most popular<br />
exhibitions of Gem and Jewelry<br />
Industry in Denver, USA. This<br />
three days expo is <strong>the</strong> best<br />
meeting place for all <strong>the</strong><br />
professionals of <strong>the</strong> industry<br />
w<strong>here</strong> <strong>the</strong>y can share and gain<br />
information and learn about<br />
new technologies in Gem and<br />
Jewelry production.<br />
<strong>American</strong> Gem Expo is a Beads,<br />
Jewelry and Fashion Accessory<br />
Show intended featuring<br />
National Vendors within <strong>the</strong><br />
United States selling Beads of all<br />
types for making Jewelry and<br />
Fashion Items, Finished Jewelry,<br />
Gifts and Fashion Accessories.<br />
IBS Las Vegas 2012 is a biggest<br />
beauty expo and educational<br />
Jacob K. Javits Convention Center,<br />
New York, United States <strong>Of</strong><br />
America<br />
Donald E. Stephens Convention<br />
Center, Rosemont, Illinois, United<br />
States <strong>Of</strong> America<br />
New York Hilton Hotel, New York,<br />
United States <strong>Of</strong> America<br />
Denver Merchandise Mart,<br />
Denver, Colorado, United States<br />
<strong>Of</strong> America<br />
Agricenter International,<br />
Memphis, Tennessee, United<br />
States <strong>Of</strong> America<br />
Las Vegas Convention Center, Las<br />
Vegas, Nevada, United States <strong>Of</strong>
Neocon World Trade Fair<br />
11-JUN-12 to 13-JUN-12<br />
Focus Apparel & Accessories<br />
Show<br />
11-JUN-12 to 13-JUN-12<br />
CMC Gift & Home Market<br />
11-JUN-12 to 14-JUN-12<br />
Licensing International Expo<br />
12-JUN-12 to 14-JUN-12<br />
On Demand Conference & Expo<br />
13-JUN-12 to 14-JUN-12<br />
event. This beauty expo creates<br />
an evolution in <strong>the</strong> beauty<br />
industry. It will welcome<br />
industry's most talented stylist<br />
and manufacturer artist from<br />
across <strong>the</strong> globe.<br />
Neocon 2012 will display large<br />
collection of furnishing products<br />
and accessories such as Art,<br />
Architectural Products, Building<br />
Products and Services etc.<br />
The Focus Apparel &<br />
Accessories Show is one of <strong>the</strong><br />
finest exhibitions for<br />
fashionable apparel and<br />
accessories in USA. The show is<br />
going to bring trendy apparels<br />
and accessories in <strong>the</strong> market. It<br />
will introduce fresh<br />
contemporary apparel for both<br />
men and women.<br />
<strong>Of</strong>fering an exhaustive range of<br />
<strong>the</strong> avant garde home decor,<br />
gift, apparel, accessories, and<br />
children's collections in Los<br />
Angeles; CMC Gift & Home<br />
Market will be an important<br />
event for producers and<br />
suppliers of gift and decoration<br />
products.<br />
Licensing International Expo is<br />
one of <strong>the</strong> famous exhibitions<br />
which will provide licensing<br />
opportunity. Last year 18,000<br />
qualified attendees and over<br />
400 exhibitors had participated<br />
in <strong>the</strong> show and this year<br />
expectation is a bit higher<br />
On Demand Conference & Expo<br />
is an informative conference<br />
cum exhibition which entirely<br />
devoted towards <strong>the</strong> digital<br />
printing and automated<br />
production industry. It will<br />
explore <strong>the</strong> innovations in <strong>the</strong><br />
field of digital publishing, digital<br />
print, cross-media marketing<br />
and enterprise information<br />
management.<br />
America<br />
Merchandise Mart, Chicago,<br />
Illinois, United States <strong>Of</strong> America<br />
California Market Center, Los<br />
Angeles, California, United States<br />
<strong>Of</strong> America<br />
California Market Center, Los<br />
Angeles, California, United States<br />
<strong>Of</strong> America<br />
Mandalay Bay Convention Center,<br />
Las Vegas, Nevada, United States<br />
<strong>Of</strong> America<br />
Javits Convention Center, New<br />
York, United States <strong>Of</strong> America
Amerimold<br />
13-JUN-12 to 14-JUN-12<br />
Infocomm<br />
13-JUN-12 to 15-JUN-12<br />
Summer Fancy Food Show<br />
17-JUN-12 to 19-JUN-12<br />
Tech Connect World<br />
18-JUN-12 to 21-JUN-12<br />
Spa & Resort Expo &<br />
Conference<br />
19-JUN-12 to 20-JUN-12<br />
Amerimold is a two-day<br />
business trade show that<br />
connects mold makers,<br />
molders, OEMs and rapid<br />
product development<br />
professionals representing all<br />
aspects of a product's<br />
development - from concept to<br />
manufacture with a unique<br />
emphasis on design,<br />
engineering and prototyping.<br />
Infocomm will be one of <strong>the</strong><br />
well-known trade's fair which is<br />
organized to focus on IT<br />
industry. The event will display<br />
many products and services like<br />
cameras, camcorders, lenses<br />
and support equipment; video<br />
media servers and show control<br />
products; lighting instruments<br />
and digital lighting products;<br />
video media servers and show<br />
control products; distributed<br />
audio products and many more.<br />
Summer Fancy Food Show will<br />
be dedicated to food lovers of<br />
<strong>the</strong> world. They will be able to<br />
get variety foods at a single<br />
place. The exhibitors of Summer<br />
Fancy Food Show will showcase<br />
variety of products and services<br />
of food industry.<br />
Tech Connect World Expo will<br />
include equipment<br />
manufacturers and suppliers,<br />
R&D companies, project<br />
developers, systems providers,<br />
finance and investment firms,<br />
trade associations, and<br />
government agencies focusing<br />
on nanotechnology, clean<br />
technology and biotechnology<br />
solutions.<br />
The Spa & Resort/Medical Spa<br />
Conferences and Expos are <strong>the</strong><br />
premier U.S. events that reflect<br />
and support <strong>the</strong> convergence of<br />
<strong>the</strong> Traditional and Medical<br />
segments of <strong>the</strong> Spa & Resort<br />
Industry<br />
Suburban Collection Showplace,<br />
Novi, Michigan, United States <strong>Of</strong><br />
America<br />
Las Vegas Convention Center, Las<br />
Vegas, Nevada, United States <strong>Of</strong><br />
America<br />
Walter E. Washington Convention<br />
Center, Washington, District of<br />
Columbia, United States <strong>Of</strong><br />
America<br />
Santa Clara Convention Center,<br />
Santa Clara, California, United<br />
States <strong>Of</strong> America<br />
Jacob K. Javits Convention Center,<br />
New York, United States <strong>Of</strong><br />
America
HBA Global Expo<br />
19-JUN-12 to 21-JUN-12<br />
Medical Design &<br />
Manufacturing Chicago<br />
19-JUN-12 to 21-JUN-12<br />
A&WMA CONFERENCE &<br />
EXHIBITION<br />
19-JUN-12 to 22-JUN-12<br />
NYTech Summit<br />
21-JUN-12 to 22-JUN-12<br />
Dallas International Lighting<br />
Market<br />
21-JUN-12 to 24-JUN-12<br />
HBA Global Expo (Health &<br />
Beauty America) has<br />
established an international<br />
reputation as one of <strong>the</strong> world's<br />
most important and fastest<br />
growing exhibitions of <strong>the</strong><br />
beauty industry.<br />
Medical Design &<br />
Manufacturing Chicago is <strong>the</strong><br />
principal resource for one of <strong>the</strong><br />
world's most powerful medical<br />
manufacturing regions, which is<br />
home to nearly 2,000 medical<br />
OEM facilities.<br />
A&WMA Conference &<br />
Exhibition will conduct young<br />
professional & student<br />
programs networking and social<br />
programs which will catch <strong>the</strong><br />
attention of <strong>the</strong> participants.<br />
Various speakers will be<br />
attending <strong>the</strong> show like Admiral<br />
Thad Allen, Gwendolyn Keyes<br />
Fleming, Timothy G. Townsend,<br />
Ph.D., P.E. and many more.<br />
NYTech Summit will be held to<br />
promote IT industry. The event<br />
will also consist with<br />
conference. Various speakers<br />
will be attending <strong>the</strong> conference<br />
like Larry Winget and also<br />
deliver <strong>the</strong>ir lectures on<br />
different topics. NYTech Summit<br />
will discuss about various IT<br />
issues like wireless networking<br />
trends and applications; unified<br />
communications &<br />
collaboration strategies;<br />
managing Smartphone security<br />
and so on.<br />
Dallas International Lighting<br />
Market is <strong>the</strong> only permanent<br />
concentration of lighting fixture<br />
companies in North America. As<br />
<strong>the</strong> only recognized national<br />
market in <strong>the</strong> U.S., more than<br />
3,000 lighting buyers from<br />
around <strong>the</strong> world attend <strong>the</strong><br />
Dallas International Lighting<br />
Market.<br />
Jacob K. Javits Convention Center,<br />
New York, United States <strong>Of</strong><br />
America<br />
McCormick Place Convention<br />
Center, Chicago, Illinois, United<br />
States <strong>Of</strong> America<br />
Henry B. Gonzalez Convention<br />
Center (HBGCC), San Antonio,<br />
Texas, United States <strong>Of</strong> America<br />
Turning Stone Casino & Resort,<br />
New York, United States <strong>Of</strong><br />
America<br />
Dallas Market Center, Dallas,<br />
Texas, United States <strong>Of</strong> America
The Bar & Restaurant Show<br />
26-JUN-12 to 27-JUN-12<br />
Bead Gem & Jewelry Fest-New<br />
Orleans<br />
06-JUL-12 to 08-JUL-12<br />
Intersolar North America<br />
10-JUL-12 to 12-JUL-12<br />
Craft & Hobby Summer Trade<br />
Show<br />
17-JUL-12 to 19-JUL-12<br />
Clinical Lab Expo<br />
17-JUL-12 to 19-JUL-12<br />
The Bar & Restaurant Show will<br />
be a grand event concerned<br />
with <strong>the</strong> exhibition of distilleries<br />
and beverages. It will exhibit<br />
different brands of beer, wine<br />
and spirits. It will assemble a<br />
large number of participants<br />
including owners, operators,<br />
managers and buyers from <strong>the</strong><br />
Mid-Atlantic States, <strong>the</strong><br />
Nor<strong>the</strong>ast, <strong>the</strong> Eastern<br />
Seaboard and <strong>the</strong> U.S<br />
Bead Gem & Jewelry Fest-New<br />
Orleans is <strong>the</strong> leading exhibition<br />
for <strong>the</strong> Gem & Jewelry Sector in<br />
New Orleans. The special<br />
exhibition is open to all <strong>the</strong><br />
General public.<br />
Intersolar North America is one<br />
of <strong>the</strong> best premier exhibition<br />
and conference for <strong>the</strong> solar<br />
industry in North America. It is<br />
one of <strong>the</strong> largest specialized<br />
trade fair for solar and energy in<br />
North Germany. The primary<br />
motive behind organizing this<br />
event is to promote <strong>the</strong><br />
development of business<br />
opportunities throughout <strong>the</strong><br />
North <strong>American</strong> solar industry.<br />
Craft & Hobby Summer Trade<br />
Show is more than just ano<strong>the</strong>r<br />
show. It's w<strong>here</strong> <strong>the</strong> world of<br />
crafts and hobbies come<br />
toge<strong>the</strong>r under one roof in a<br />
massive burst of creativity,<br />
education, inspiration and<br />
commerce. Over $30 billion is<br />
spent annually in this industry,<br />
and <strong>the</strong> CHA Summer<br />
Convention and Trade Show is<br />
w<strong>here</strong> all that buying begins.<br />
Clinical Lab Expo is an<br />
international scientific / medical<br />
exposition of clinical laboratory<br />
professionals, physicians,<br />
research scientists and o<strong>the</strong>r<br />
individuals involved with clinical<br />
chemistry and o<strong>the</strong>r clinical<br />
laboratory science-related<br />
disciplines.<br />
Jacob K. Javits Convention Center,<br />
New York, United States <strong>Of</strong><br />
America.<br />
Pontchartrain Center, Kenner,<br />
Louisiana, United States <strong>Of</strong><br />
America<br />
Moscone Convention Center, San<br />
Francisco, California, United<br />
States <strong>Of</strong> America<br />
Donald E. Stephens Convention<br />
Center, Rosemont, Illinois, United<br />
States <strong>Of</strong> America<br />
Los Angeles Convention Center,<br />
Los Angeles, California, United<br />
States <strong>Of</strong> America
Swimshow<br />
21-JUL-12 to 24-JUL-12<br />
Project New York<br />
22-JUL-12 to 24-JUL-12<br />
Ohio State Fair<br />
25-JUL-12 to 05-AUG-12<br />
INTERNATIONAL QUILT<br />
FESTIVAL - Long Beach<br />
27-JUL-12 to 29-JUL-12<br />
Dallas Bridal Show<br />
28-JUL-12 to 29-JUL-12<br />
Las Vegas Market Show<br />
30-JUL-12 to 03-AUG-12<br />
SwimShow 2012 is <strong>the</strong> largest<br />
and most comprehensive<br />
swimwear exhibition in <strong>the</strong><br />
world, is set to invigorate <strong>the</strong><br />
industry with what promises to<br />
be <strong>the</strong>ir most successful show<br />
yet.<br />
PROJECT Show is <strong>the</strong> world's<br />
pre-eminent advanced<br />
contemporary fashion event.<br />
Held bi-annually in New York<br />
and Las Vegas, PROJECT is<br />
w<strong>here</strong> <strong>the</strong> best directional<br />
designers and most influential<br />
retail leaders do business<br />
Ohio State Fair is one of <strong>the</strong><br />
largest state fairs in <strong>the</strong> United<br />
States. The event offers good<br />
prospects to gauge <strong>the</strong><br />
potential of <strong>the</strong> African market<br />
for overseas companies, and for<br />
<strong>the</strong>ir domestic counterparts.<br />
Ohio State Fair provides <strong>the</strong>m<br />
<strong>the</strong> opportunity to increase<br />
<strong>the</strong>ir visibility in market.<br />
2012 International Quilt<br />
Festival/Long Beach is an<br />
exhibition of different kinds of<br />
quilts. Here visitors can see<br />
quilts having variety of<br />
embroidery work, weaving,<br />
appliqu and different kinds of<br />
techniques used in needle work.<br />
Bridal Show is a perfect<br />
opportunity to get all of your<br />
planning done under one roof.<br />
This Bridal show is going to be<br />
taken place at <strong>the</strong> Dallas Market<br />
Center in USA. This is <strong>the</strong> one<br />
day exhibition being organized<br />
by Dallas Market Center.<br />
Las Vegas Market Show features<br />
<strong>the</strong> ideal mix of design-leading<br />
style, buying efficiency and<br />
value that simply can't be<br />
matched. Las Vegas is <strong>the</strong><br />
Market for today's economy.<br />
Miami Beach Convention Center,<br />
Miami, Florida, United States <strong>Of</strong><br />
America<br />
82MERCER, New York, United<br />
States <strong>Of</strong> America<br />
Ohio Expo Center, Columbus,<br />
Georgia, United States <strong>Of</strong><br />
America<br />
Long Beach Convention<br />
Center,Long Beach, California,<br />
United States <strong>Of</strong> America<br />
Dallas Market Hall (Dallas Market<br />
Center), Dallas, Texas, USA<br />
Las Vegas World Market Center,<br />
Las Vegas, Nevada, United States<br />
<strong>Of</strong> America<br />
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(IACC) deserves right to edit <strong>the</strong> said articles for clarity and space and use <strong>the</strong>m in all electronic and print<br />
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Conceived, Designed and Researched by:<br />
R.K. Chopra, Secretary General, IACC; E-mail: rkc@iaccindia.com<br />
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