India Positive - January 23, 2015

  • India Positive - January 23, 2015

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January 23, 2015

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India and US agree to collaborate on Digital India initiative


New Delhi: India and the United States (US) have agreed to jointly explore opportunities for collaboration on implementing India's ambitious Rs 1.13 trillion (US$ 18.31 billion) Digital India initiative. The two sides also agreed to hold the US-India Information and Communications Technology (ICT) Working Group in India later this year.

Piramal acquires US-based contract manufacturing firm


Mumbai: Piramal Enterprises Ltd has acquired the US-based Coldstream Laboratories for US$ 30.6 million in an all-cash transaction.

Oil and gas sector may see Rs 6 lakh-cr investments in 7 years


New Delhi: The oil and gas sector in India is expected to see investments worth as much as Rs 5-6 trillion (US$ 80.82-96.96 billion) over the next five to seven years.

Tata Communications eying Latin American market, invests in submarine cable


New Delhi: Tata Communications has invested in acquiring capacity in Seabras-1, a submarine cable being developed between the US and Brazil, seeking to increase services in the Latin American region.

Bandhan gets equity investment of Rs 1,600 crore


Kolkata: Bandhan Financial Services has received a combined equity commitment of Rs 1,600 crore (US$ 258.56 million) from International Finance Corp (IFC) and GIC, Singapore's sovereign wealth fund. The proposed investment is aimed at supporting the transformation of Bandhan to a universal bank, focused on low-income households.

Jaitley to sell ‘Make in India’ at Davos summit


New Delhi: Mr Arun Jaitley, Minister of Finance, Government of India, will lead India's delegation, with an aim to pitch the 'Make in India' programme to the participants at the four-day World Economic Forum (WEF) Summit in Davos, Switzerland.

Twitter makes first India acquisition with ZipDial


Bengaluru: Twitter announced that it would buy ZipDial, a Bengaluru-based mobile marketing and analytics platform for an undisclosed amount.

India is poised to become the world's fastest-growing economy in two years: IMF


New Delhi: India is set to become the world's fastest-growing major economy in about two years from now, according to latest projections by the International Monetary Fund (IMF) in the World Economic Outlook. India's gross domestic product (GDP) growth is likely to reach 6.5 per cent by March 2017.

Apollo Hospitals to invest Rs 1,500 cr; might tap PEs


Chennai: Apollo Hospitals Enterprise (AHEL) plans to add another 2,000 beds over the next two financial years, at a cost of around Rs 1,500 crore (US$ 243.27 million), as per Mr Prathap C Reddy, Founder and Executive Chairman, Apollo Hospitals.

Keiretsu Forum opens its first India chapter in Chennai


Chennai: Keiretsu Forum, a global angel investor network, has forayed into India by opening a chapter in Chennai. With this, the Silicon Valley-based network will have 34 chapters across three continents.

US, India to expand cooperation on climate change, clean energy


New Delhi: India and US will expand cooperation and enhance strategic partnership in climate change and clean energy, especially in solar and wind power, during US President Barack Obama's second visit to India and his talks with Mr Narendra Modi, Prime Minister of India, this month.

Emami buys 67% in Oz firm Fravin


Kolkata: Emami Group has acquired a controlling 66.67 per cent stake in Fravin of Australia along with its three subsidiaries. Emami International FZE, a subsidiary of Emami, was the special purpose vehicle (SPV) for this first global acquisition by the group.

Jabong to enter $1-bn club this year: CEO


New Delhi: Jabong plans to enter the US$ 1 billion club in 2015. The company reported a gross merchandise value of US$ 300 million at the end of 2013, which doubled in 2014 to about US$ 600 million.

x IBEF : India Brand Equity Foundation