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The National Innovation Council (NInC) in partnership with the Ministry of Micro, Small and Medium Enterprises (MSME) recently launched the India Inclusive Innovation Fund (IIIF), an impact investment fund that will invest in social ventures. The Rs 500 crore (US$ 79.35 million) fund, which will be registered under SEBI's Alternative Investment Fund regulations as a Category-I venture capital fund, will invest in ventures operating in areas such as healthcare, food, nutrition, agriculture, education and skill development, energy, financial inclusion, water, sanitation and employment generation.
Significantly, India received a total foreign investment of US$ 306.88 billion during April 2000-September 2013. It is noteworthy that 94 per cent of this amount has been received during last nine years. The Government of India has made the investment regime more investor friendly with progressive liberalisation of the foreign direct investment (FDI) policy in recent years. Prominent international bodies including World Bank and UNCTAD rate India amongst the top three investment destinations globally.
On a closing note, I share with you some highlights from our recently concluded global Brand India campaign at Davos 2014.
Aparna Dutt Sharma
CEO
India Brand Equity Foundation
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| FACT FOR THE DAY |
Kirloskar Brothers Ltd (KBL) has collaborated with Tata Power to install the world's largest circulating water pumping system for the latter's Ultra Modern Power Plant (UMPP) at Mundra in Gujarat.
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| QUOTE FOR THE DAY |
| "We are committed to the India story and the market potential."
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Mr Eberhard Kern
Director and CEO, Mercedes-Benz India |
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RBI hikes investment limit in G-Secs
Mumbai: Reserve Bank of India (RBI) has decided to enhance the existing sub-limit of US$ 5 billion available to long term investors - sovereign wealth funds, multilateral agencies, pension/insurance/endowment funds and foreign central banks - registered with the Securities and Exchange Board of India (SEBI) for investment in Government dated securities to US$ 10 billion.
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Civil Aviation Ministry approves operations of Airbus A-380 in India
New Delhi: The Ministry of Civil Aviation, Government of India, has approved the operations of Airbus A-380 in India. The operations of A-380 aircraft would be subject to overall traffic entitlements within the bilateral Air Service Agreements (ASAs) with different countries.
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India ranks among top investment destinations
New Delhi: India has received total foreign investment of US$ 306.88 billion since 2000 and 94 per cent of this amount has been collected during the last 9 years. The country has been consistently rated amongst the top three investment destinations globally by all international bodies including World Bank and UNCTAD, due to its liberal foreign investment policies.
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India, Fiji sign pact to avoid double taxation
New Delhi: India and Fiji have signed a double taxation avoidance agreement (DTAA) that provides for, among other things, exchange of banking information for tax administration purpose. This is the first time both countries are entering into a DTAA.
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Government launches Rs 500 crore social venture capital fund
New Delhi: The National Innovation Council (NInC), in partnership with the Ministry of Micro, Small and Medium Enterprises (MSME), launched Rs 500 crore (US$ 79.35 million) India Inclusive Innovation Fund (IIIF), an impact investment fund that will invest in ventures catering to the country's poor.
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HPCL unit buys stake in Australian fields
Mumbai: Prize Petroleum, a wholly-owned subsidiary of Hindustan Petroleum Corporation Ltd (HPCL), has acquired stakes in two Australian hydrocarbon fields for A$ 85 million (US$ 74.83 million). The company has entered into an agreement with Sydney-based AWE Ltd to acquire 11.25 per cent stake in T/L1 area and 9.75 per cent interest in T/18P area.
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Two Indian drug-makers to set up facilities in Belarus
Kolkata: Two mid-size Indian pharmaceutical companies are in the process of setting up manufacturing facilities in Belarus through joint ventures (JV), to manufacture anti-cancer and generic drugs, according to Mr Vitaly A. Prima, Belarus ambassador to India.
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Mindtree plans 2 new US delivery centres
Bengaluru: Mindtree plans to set up its second delivery centre in the US this year and expand the team at its old centre at Gainesville, Florida. “We are planning to set up two more delivery centres in the US, of which one is likely to come up in 2014,” Mr Krishnakumar Natarajan, COO, Mindtree.
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Aurobindo gets USFDA nod for diabetes drug
Hyderabad: Aurobindo Pharma Ltd has received the final approval from the US Food & Drug Administration (USFDA) to manufacture and market Repaglinide tablets. The tablets are the generic equivalent of Novo Nordisk Inc's Prandin tablets and are indicated to control type 2 diabetes mellitus in adults.
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Greenfield Software eyes North America, Europe
Kolkata: Greenfield Software, a data centre infrastructure management (DCIM) company, is looking for business opportunities in North America and West Europe, including the UK. The company provides integrated energy efficiency and sustainability software solutions for DCIM through its flagship product, GFS Crane.
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| CONVERSATIONS ON BRAND INDIA |
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Rs 5-lakh-crore investments: PM wants solar energy target advanced
New Delhi: Dr Manmohan Singh, Prime Minister of India, has instructed to advance the planned commissioning of 10,000 megawatt (MW) of solar power generation capacity to 2027, against the originally envisaged target of 2031. The PM's Office has asked Bharat Heavy Electricals Ltd (BHEL) and the Ministry of New and Renewable Energy (MNRE) to give presentations, on the blueprint of the strategies to implement the plan that could attract investment in excess of Rs 5-6 trillion (US$ 80.75-96.9 billion).
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Renewable energy projects worth Rs 30,000 crore being implemented in Madhya Pradesh
New Delhi: Renewable energy projects worth Rs 30,000 crore (US$ 4.80 billion) are being implemented in Madhya Pradesh (MP), which have quietly reached out to companies and attracted GE, Reliance Power, Gamesa and others. Mr Shivraj Singh Chauhan, Chief Minister of MP, has accelerated the state's drive for renewable energy, helping it expand rapidly and kick-start many projects, including 4,600 megawatt (MW) of being executed.
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GVK Bio acquires US research firm
Hyderabad: GVK Bio has acquired Aragen Bioscience Inc, a US-based pre-clinical contract research organisation (CRO). The acquisition will scale up its expertise to large-molecule research and development services and biotech products.
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Biocon to take breast cancer drug to emerging markets
Bengaluru: Biotechnology company Biocon Ltd is planning to take its recently launched breast cancer drug, CANMAb, to other emerging markets. CANMAb will be launched in Latin America, West Asia and North Africa.
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