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The Government of India remains committed to move ahead with investment reforms desired by businesses. In another significant move in the recent weeks, the Securities and Exchange Board of India (SEBI) has allowed foreign institutional investors (FII) to get directly into the debt market, by doing away with the auction process. FIIs/QFIs can now invest in government debt without purchasing debt limits till the overall investment reaches 90 per cent, after which the auction mechanism would be initiated for allocation of the remaining limits, as currently in place for FII investments in corporate debt.
And interestingly, cross-border mergers and acquisitions (M&As) are rising, according to data released by Grant Thornton. M&As doubled to US$ 14.1 billion in the first eight months of the year over last year. Private equity (PE) deals have grown at a rate of 31 per cent to touch US$ 7.6 billion by August 2013.
Aparna Dutt Sharma
CEO
India Brand Equity Foundation
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| POLICY / CORPORATE BRIEFS |
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SEBI eases FII investment in debt
Mumbai: The Securities and Exchange Board of India (SEBI) has allowed foreign institutional investors (FII) to get directly in the debt market, by doing away with the auction process. "FIIs/QFIs can now invest in government debt without purchasing debt limits till the overall investment reaches 90 per cent, after which the auction mechanism shall be initiated for allocation of the remaining limits, as currently in place for FII investments in corporate debt," said SEBI in a statement.
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Cross-border M&As rise
Mumbai: Cross-border mergers and acquisitions (M&As) are rising, according to data released by Grant Thornton. The big deals included state-owned Oil and Natural Gas Corporation taking a 10 per cent stake in a Mozambique gas field for US$ 2.6 billion from US energy giant Anadarko. M&As doubled to US$ 14.1 billion in the first eight months of the year from the year-ago period.
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7th India-Russia Trade and Investment Forum focuses on Pharma, tourism and services
New Delhi: A high level delegation of 120 Indian business leaders led by Mr Anand Sharma, Union Minister of Commerce and Industry, Government of India, discussed various business opportunities in pharmaceutical and medical industry, tourism and medical tourism and trade in goods, services and innovative products with their Russian counterparts at India-Russia Trade and Investment Forum.
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AION Capital invests Rs 300-crore in Jyoti Structures
Mumbai: AION Capital Partners has made an investment of Rs 300 crore (US$ 48.43 million) in Jyoti Structures, a Mumbai-based, mid-sized company, specialising in power transmission, distribution and engineering, procurement and construction (EPC) projects.
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US firm Bayada buys 26% stake in Chennai's India Home Health Care
Bengaluru: US-based Bayada has bought a 26 per cent stake in Chennai's India Home Health Care, confident that a burgeoning middle class will lead to significant demand for home healthcare in India. This is the first investment outside the US for privately held Bayada, which expects to earn US$ 1 billion in revenue in 2014.
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US-based Endurance in pact to buy Directi Web for $110 m
Mumbai: US-based Endurance International Group has signed an agreement to acquire Directi Web Technology Pvt Ltd for about US$ 100-110 million. Under the agreement, Endurance International would pay in cash or a combination of cash and shares (based on the seller), according to a filing with the US market regulator Securities and Exchange Commission.
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Alvarez & Marsal expands India biz
New Delhi: Alvarez & Marsal (A&M), a global professional services firm, is expanding its India business with the launch of a dedicated transaction advisory practice. "India is a dynamic growth market for companies at all stages of development", said Mr Sankar Krishnan, Managing Director, Alvarez & Marsal.
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Germany to finance India's green energy corridors
New Delhi: Germany has committed financial and technical assistance to India for the Green Energy Corridors, which includes financial assistance of Euro 250 million as Reduced Interest Loan. The Green Energy Corridors project, which comprises both inter-state and intra-state schemes for evacuation of power from wind and solar projects, will help in integrating renewable energy into the National grid.
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| CONVERSATIONS ON BRAND INDIA |
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Bosch to invest Rs 1,500 crore in Karnataka
Bengaluru: Bosch will invest Rs 1,500 crore (US$ 240 million) over the next seven years in Bengaluru, in expanding its manufacturing and research and development capabilities. "This move to relocate underlines our commitment to India and especially to the state of Karnataka. The developing industrial area in Bidadi will offer larger space and better infrastructure support for our future expansion," said Mr Steffen Berns, MD, Bosch Ltd.
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Fiat to launch jeep, Abarth
Kolkata: Fiat Group Automobiles India Ltd (FGAIL), a subsidiary of Italian-American Fiat-Chrysler group, will introduce two new badges in India within the next 12 months. While the jeep brand will be introduced from Chrysler later in 2013, the company will launch Fiat's performance brand Abarth in 2014.
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Tata Sons to hold 51% stake in the JV with Singapore Airlines
Mumbai: Tata Sons and Singapore Airlines have announced the signing of a memorandum of understanding (MoU) and filed an application with the Foreign Investment Promotion Board (FIPB) to start a new airline. The Tatas will own 51 per cent of the joint venture (JV), with Singapore Airlines holding the remainder. They plan to jointly invest US$ 100 million initially.
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Etihad Airways to enhance connectivity to India
New Delhi: With its deal with Jet Airways in final stages of clearances, Etihad Airways is enhancing connectivity with India. Etihad said it will introduce more flights and wide-bodied jets by the end of 2013, and further increase routes in 2014, subject to regulatory approval.
"India is one of the world's fastest-growing destinations, and a key market in the growth strategy of Etihad Airways", said Mr James Hogan, President, Etihad.
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Mr Phil Popham, Director - Group Sales Operations, Jaguar Land Rover, on India's significant growth potential
"It has got huge potential as a market. It is a market where we see long term potential.
We have got a good footprint, excellent dealers. Ownership by the Tatas has given that a huge advantage there, of the desirability of the business from the investors, they have got some brilliant facilities around the country. We have made investments in Pune for KD (knocked down kits)."
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Mr Kenichiro Hibi, Managing Director, Sony India, on the company's confidence in India's growth potential
"...in India, there is still a lot of demand for purchases. Especially demand during the Diwali peak season will be quite big…This year, we are trying to grow by 30% over last fiscal year (ended March 31, 2013). We have been growing at 20% to 30% (annually) over the last five years.
We had around 1% market share in the smartphones segment in February, we now already have around 10%, and are looking at 20% share next fiscal year (through March 2014)."
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