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India News
Newsletter for the week ending 11.08.2012
IT spending in Indian manufacturing to double by 2016: IDC Manufacturing Insights
Information technology (IT) spending in the Indian manufacturing sector is expected to grow to US$ 8.78 billion by 2016, registering a cumulative average growth rate of 14.5 per cent between 2012 and 2016, according to a report by IDC Manufacturing Insights.
MCX exchange gets nod to launch currency options
The Securities and Exchange Board of India (Sebi) and the Reserve Bank of India (RBI) has allowed the MCX Stock Exchange (MCX-SX) to launch currency options on its platform.
Local outsourcing on rise in US; Indian IT cos taking advantage of the trend: Forrester
Domestic outsourcing or outsourcing locally such as from US to the US is increasing, according to a research report by Forrester. Indian vendors are also taking advantage of the trend to hire Voice messages transforming face of rural India
Mobile voice messages is transforming the Indian rural landscape. Rural community groups believe that the green SIM Card conceptualised by IKSL (Indian Farmers' Fertiliser Co-operative Ltd (IFFCO) Kisan Sanchar Ltd) is an effective communication tool.
Sandhar Tech buys Mag Engineering, deal size seen at Rs 70-90 crore
Sandhar Technologies Ltd has acquired 100 per cent stake in Bengaluru-based Mag Engineering Pvt Ltd, one of the largest driver cabin manufacturer in India, for Rs 70-Rs 90 crore (US$ 12.63 Indo-Swiss trade expands from US$7.03 bn in 2005-06 to US$15.3 bn in 2009-10, more than
doubling in 5 years
The two-way trade between India and Switzerland has expanded from US$ 7.03 billion in 2005- 06 to US$ 15.3 billion in 2009-10, more than double in 5 years, according to Dr Linus von Castelmur, Ambassador of Switzerland to India and Bhutan.
IRDA unveils reforms, okays demat policies
Insurance Regulatory and Development Authority (IRDA) has approved insurance repositories - that will facilitate demat policies, coupled with major relaxations in investment guidelines for GRI A+ rating for RIL's Corporate Sustainability Report
The Global Reporting Initiative (GRI) has awarded A+ level to Reliance Industries Ltd's (RIL) sustainability report 2011-12. This is the seventh year in a row that RIL has received the highest application level on sustainability reporting.
HPCL, Mittal Energy joint venture picks IBM solution
HMEL (Hindustan Petroleum Corporation Ltd (HPCL)- Mittal Energy Ltd), a joint venture (JV) between HPCL and Mittal Energy Investment Pte Ltd, Singapore, has adopted a new IBM analytics based solution to manage its financial and operations data.
Aurobindo gets US FDA nod for anti-asthma, chewable tablets
Aurobindo Pharma has received US Food and Drug Administration (USFDA) approval to manufacture and market montelukast sodium tablets and montelukast sodium chewable tablets for treatment of asthma in the US market.
Venezuela seeks more investments from India in petroleum sector
Venezuela is looking for more investments from India in the petroleum sector. The two sides have agreed to set up an energy forum, a science forum and an agriculture expert group to boost Exim Bank to help exports of Indian medicine products
The Export-Import (Exim) Bank of India has agreed to provide loans to fund the setting up of common infrastructure facilities at Sriperumbudur, Tamil Nadu, which will help boost exports of Cement majors sign global pact to cut carbon emission
Indian cement majors-ACC Ltd, Shree Cement Ltd and Ultratech-have signed a cooperation pact to support low-carbon investments in India. The pact was signed in Geneva with member companies of the World Business Council (WBC).
Govt approves Rs 3,387 crore for roads in Bihar
The Government of India has approved 2,389 projects under the Integrated Action Plan (IAP) for construction of 9,070 kilometer (km) of roads in rural Bihar, at an estimated cost of Rs 3,387 Pune based property firm Panchshil Realty ties up with Trump to launch Trump Towers,
Pune-based real estate firm, Panchshil Realty has announced the launch of TrumpTowers Pune, a Trump branded residential property. This will be US-based Donald Trump's first luxury homes Exim Bank inks MoU with IL&FS Financial Services
Export-Import (Exim) Bank of India and IL&FS Financial Services Ltd (IFIN) have signed a memorandum of understanding (MoU) to help Indian companies to access the CNH bond markets as well as other international bond markets which are not denominated in USD, Euro India in second position for education related search queries on the web: Google
India ranks second globally when it comes to absolute volume of search queries related to education, according to a study 'students on the web' by Google India. The study highlighted that the education-related queries on Google in India are growing at over 46 per cent year on year.
Govt, CSIR-NIIST to set up spice plant in Wayanad
The State Government plans to set up an integrated spice processing facility at Meenangadi in Wayanad, Kerala. Council of Scientific and Industrial Research (CSIR) and National Institute for Interdisciplinary Science and Technology (NIIST) will provide technical assistance to the plant.
Jaipur gets country's first financial supermarket
The State Bank of Bikaner and Jaipur (SBBJ) has opened India's first financial supermarket in Jaipur. The supermarket will be a hub offering a basket of diversified financial products.
TCS, HDFC partner to invest in sports education startup
Tata Consultancy Services (TCS) and HDFC Bank have come together to invest in a sports education startup - Kids Out Of Home (KOOH). Both the firms have invested 15 per cent each in Govt plans to set up Rs 100 cr innovation fund for MSMEs
The Ministry of Micro, Small and Medium Enterprises (MSME) in consultation with the National Innovation Council plans to set up a dedicated fund, India Inclusive Innovation Fund, with initial contribution of Rs 100 crore (US$ 18.07 million), according to Mr Vayalar Ravi, Union Minister for Overseas Indian Affairs, with additional charge of Ministry of MSME.
Infosys selected for Rs 700 cr India Post project
Infosys has received Rs 700 crore (US$ 126.50 million) deal from India Post for implementing and managing its banking and insurance products.
Yamuna Expressway now open; toll-free ride till August 15
The Yamuna Expressway was opened to traffic, reducing travel time between Delhi and Agra by almost half. The Expressway, India's longest elevated highway, will offer a toll-free ride till Toyota's hospitality biz makes India debut
Toyota Enterprises has entered into a joint venture (JV) with the Bengaluru-based Hyagreev Hotels, which runs The Chancery Hotel in Bengaluru. The project is Toyota Enterprises' first, Source: INDIA BRAND EQUITY FOUNDATION

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