India Now Newsletter
India Brand Equity Foundation CCXCI February 18, 2013
In This Issue
- Policy Watch
- Economy & Enterprise
- Conversations on Brand India
- People of the Week
- Sustainable Development
- Special: Pharmaceuticals
- Fact for the day
- Quote for the day
Indian companies are on a strong drive, establishing their presence in overseas markets. There are two major factors that are driving the presence, growth, and competitiveness of Indian companies in overseas markets. Firstly, the globalisation of Indian economy has led to the development of competitive capabilities of Indian firms, and secondly, the impact of information and communication technology (ICT) on business world that has resulted in the emergence of new types of businesses and new ways of managing them.

The strong competitiveness of Indian firms has led to large acquisitions, and establishment of factories and offices in multiple countries. Significantly, overseas direct investment by India Inc increased by 179 per cent in the month of January 2013 to US$ 3.30 billion against US$ 1.18 billion in the year-ago period.

Also, India's information technology (IT) and business process outsourcing (BPO) sectors have continued to grow. These sectors will expand by 12-14 per cent in FY14 to touch US$ 84-87 billion in exports, according to industry grouping National Association of Software and Services Companies (Nasscom). The sector is expected to end FY13 with a growth of 10.2 per cent to touch US$ 75.8 billion.

Aparna Dutt Sharma
Aparna Dutt Sharma
CEO
India Brand Equity Foundation

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FACT FOR THE DAY
The Securities and Exchange Board of India (SEBI) has approved India's first social venture fund, Incube Connect Fund, which seeks to collect Rs 200 crore (US$ 37.11 million) for investment in four sectors impacting the life of people.

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QUOTE FOR THE DAY
"Indian markets present an attractive long-term growth story"
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Kristy Fong
Investment Manager, Aberdeen Asset Management Company
Innovation from India
POLICY WATCH
India and Sweden amend the convention on avoidance of double taxation
New Delhi: India and Sweden have made amendments to the convention on avoidance of double taxation, by signing a protocol at Stockholm, Sweden. The protocol will replace the Article concerning exchange of information in the existing Double Taxation Avoidance Convention (DTAC) and will allow the exchange of banking information.
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Sonia Gandhi launches child health scheme under National Rural Health Mission
New Delhi: Ms Sonia Gandhi, Chairperson, United Progressive Alliance (UPA), has launched a new scheme to improve child healthcare under the National Rural Health Mission, under which every child younger than six years would be screened for 30 select deficiencies and disorders.
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ECONOMY & ENTERPRISE
India Inc's investment abroad jumps 179% in January
Mumbai: Overseas direct investment by India Inc increased by an impressive 179 per cent in the month of January to US$ 3.3 billion against US$ 1.18 billion in the year-ago period. Overseas investment by Indian companies is in the form of equity, debt, and guarantees issued.
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Net direct tax collections figures for April-January 2012-13 up by 12.49 per cent
New Delhi: Gross Direct Tax collection during April-January of the current fiscal (FY 2012-13) was up by 7.02 percent at Rs 4,55,125 crore (US$ 84.33 billion) as against Rs 4,25,274 crore (US$ 78.77 billion) in the same period last fiscal.
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India's IT sector exports to grow 12-14 per cent in FY14: Nasscom
Mumbai: India's information technology (IT) and business process outsourcing (BPO) sector will expand 12-14 per cent in FY14 to touch US$ 84-87 billion in exports, according to industry group National Association of Software and Services Companies (Nasscom). The sector is expected to end the year to March 31 with a growth of 10.2 per cent to touch US$ 75.8 billion.
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Welspun is the top home textile supplier in the US
Ahmedabad: Welspun India Ltd (WIL) ranks first in the Top 15 Supplier Giants (USA) by Home Textiles Today in a recently concluded survey. The survey mentions that refocusing on core competencies Welspun has reported higher volumes and has improved margins in terry towels, towels and rugs.
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France invites Indian investment
New Delhi: France wants to take "full part" in the economic development in India and will also like the Indian business community to look at investment opportunities in that country, said visiting French President Mr Francois Hollande. "We would like both countries to cooperate. India is already the 13th largest investor in France and it can create more investment and employment there", he added.
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Indian Potash in deal with Belarusian Potash company
New Delhi: Indian Potash Ltd (IPL) has signed a contract with Belarusian Potash Company (BPC) to import one million tonne (MT) of muriate of potash (MOP) at US$ 427 a tonne this calendar year. The pricing of the new deal is about 15 per cent lower than the previous contract signed at US$ 490.
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Godrej in tech tie-up with Bosch & Siemens
Mumbai: Home appliances brand Godrej Appliances has announced technology collaboration with Bosch and Siemens (BSH) to develop a new range of energy-efficient refrigerators for India, Asia-Pacific, West Asia and Africa. This range of highly energy-efficient refrigerators will be manufactured at Godrej's manufacturing plant at Shirwal near Pune.
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PowerGrid to sign contract with Ethiopian firm; net up 40%
New Delhi: PowerGrid Corporation of India Ltd (PGCIL) has said that it will sign a US$ 16.7 million management contract with Ethiopia Power Company for two years. "PowerGrid will take up the key positions and manage the company for two years to make it more efficient and expand", said Mr R K Nayak, Chairman and Managing Director, PGCIL.
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CONVERSATIONS ON BRAND INDIA
"The rising eating out culture and changing eating habits open up a huge opportunity for the established QSR chains across the globe."

Aparna Dutt Sharma
Chief Executive Officer
India Brand Equity Foundation
The rise of QSR chains in India

The rise of QSR chains in India
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PEOPLE OF THE WEEK
Indian-American scientist honoured by Obama
New Delhi: Indian-American scientist Rangaswamy Srinivasan was presented the prestigious National Medal of Technology and Innovation by US president Barack Obama for his pioneering work with laser. Rangaswamy received the award along with Samuel Blum and James Wynne, for the discovery of excimer laser ablative photodecomposition of human and animal tissue.
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Indian-American businessman receives prestigious business award
New Delhi: Dallas, Texas-based Ashok Mago, Chairman of USINDIA Forum, has been awarded with the 'Minority Business Leader Award' by the Dallas Business Journal for his accomplishments in the field of business. The other Indian-Americans who had been selected for the award earlier are Pete K Patel, Shaji K Daniel and Krishnakant Dave.
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SUSTAINABLE DEVELOPMENT
Govt plans solar power with pisciculture
Patna: The State Government has decided to develop up to 150 megawatt (MW) of solar photovoltaic (PV) based projects which are to be set up on the 'chaur'/pond where pisciculture is being undertaken. Bihar Renewable Energy Development Agency (BREDA) has been designated as the nodal agency for providing necessary support to facilitate the development of solar PV projects in the state.
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Daimler India Commercial Vehicles gets into solar power
Chennai: German truck maker Daimler India Commercial Vehicles (DICV), a wholly owned subsidiary of Daimler AG and the manufacturer of the BharatBenz truck brand, has announced the setting up of its first solar power project within its plant at Oragadam, near Chennai.
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SPECIAL: PHARMACEUTICALS
Biocon ties up with Mylan for insulin marketing
Bengaluru: Global pharmaceutical company Mylan has entered into an agreement with Bengaluru-based Biocon for the global development and commercialisation of the latter's generic insulin analog products (long lasting insulins), which have a global addressable market of US$ 11.5 billion.
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Symposium on new drug discovery at Zydus Research Centre
Ahmebadad: The Ramanbhai Foundation 6th International Symposium on 'Advances in New Drug Discovery Technologies & Translational Research' began at Zydus Research Centre on February 5, 2013. The symposium aimed to address various aspects related to new drug discovery with a focus on cancer, inflammation, cardiometabolic diseases and infectious diseases.
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