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Chinese Investments in India Increased By Six Times

24May By Press Trust of IndiaNo Comments

BUSINESS

Chinese Investments in India Increased By Six Times

Chinese investments in India grew six-fold in 2015 to USD 870 million from the previous year while more investments are in the pipeline following easing of restrictions on Chinese firms and favourable tax rates, a state-run daily said ahead of President Pranab Mukherjees visit. Investment in India by Chinese companies in 2015 reportedly rose six-fold from 2014, partly thanks to low investment restrictions and favourable tax and land rent policies in the country, Global Times quoted Chinese business experts as saying. China's investment soared to around USD 870 million in 2015, six times that in 2014, the report said noting that the figure for 2015 was also twice the amount from April 2000 to the end of 2014. Indian trade officials say that the figures reflect how Chinese investments t...

24May By Press Trust of IndiaNo Comments

CHINA

China Apprehensive of Tim Cook’s Plans For India: Chinese Media

As Apple CEO Tim Cook spoke of plans to expand manufacturing operations in India, China apprehends that it could lead to possible exodus of Apple production chain and loss of tens of thousands of jobs, Chinese state-run media said. "It seems the time has come for China to consider whether it is ready for the possible exodus of Apple Inc's production chain," an article in Global Times said, referring to Cook's comments during his India tour. Cook had discussed with Prime Minister Narendra Modi the "possibilities of manufacturing". "Cook shared Apple Inc's future plans for India. He spoke of the possibilities of manufacturing and retailing in India. He appreciated the breadth of young talent in India and said the youth have significant skills which Apple would like to tap," an offic...

Anand Mahindra Invested in SheThePeople.TV

23May By NitishNo Comments

FUNDING

Anand Mahindra Invested in SheThePeople.TV

Anand Mahindra, Chairman of Mahindra Group has invested into India’s largest digital storytelling platform for women SheThePeople.TV, founded by award winning journalist Shaili Chopra. Mr Mahindra has invested in his private capacity in the video platform, which is building a much-needed digital media space and ecosystem for women achievers and is dedicated to championing and promoting their success stories. Regarding his decision to support the platform, Mr Mahindra said ‘Women need a space that quenches their intellectual hunger, engages, and empowers them with relatable content. With Shaili as founder possessing a solid understanding of both conventional and digital media over 15 years, I have great confidence that SheThePeople.TV will become a focal point of inspiration for tomor...

Godrej Group Looking to Become $10 Billion Entity By 2020: Adi Godrej

22May By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Godrej Group Looking to Become $10 Billion Entity By 2020: Adi Godrej

Diversified Godrej Group is looking to accelerate growth and multiply its size 2.5 times in the next four years to touch USD 10 billion mark by 2020 with acquisitions in emerging markets slated to play a key role in achieving the target. The group with interests in various sectors such as consumer goods, real estate, appliances and agriculture had announced its 2020 vision aiming to be 10 times the size of what it was in 2010. "Our objective is 10 by 10, which is ten times growth in 10 years at a compounded annual growth rate of 26 per cent. That is our objective. In next four years, if we grow with CAGR of 26 per cent then in four year we are about 2.5 times of our present size," Godrej Group Chairman Adi Godrej told PTI. He said the growth will be driven by both organic and inorgani...

Funding Squeeze Causing Stricter Evaluation of E-commerce Models

21May By Press Trust of IndiaNo Comments

ANALYSIS

Funding Squeeze Causing Stricter Evaluation of E-commerce Models

A tightening funding environment has prompted Indian e-commerce ecosystem to adopt stricter evaluation norms for business models, with focus on profitability and consolidation, a report said. "We believe this (e-commerce) shake-up may intensify further, leading to the emergence of one or two strong companies within each sub-sector," said the research report by Kotak Institutional Equities. A lack of fresh funding as well as stricter focus on profitability by investors is leading to swift business model changes by companies, it said. Further, the current wave of consolidation among e-commerce players may intensify, leading to fewer, stronger players emerging within each category. "Low valuations may prompt brick-and-mortar companies to take over some e-commerce rivals, in a bid to mak...

Apple Announced D&D Accelerator Center in Bengaluru, Zomato Founder said Excellent Opportunity

18May By AdityaNo Comments

News

Apple Announced D&D Accelerator Center in Bengaluru, Zomato Founder said Excellent Opportunity

Tech giant Apple on Wednesday announced a new initiative to support engineering talent and accelerate growth in India's iOS developer community. Apple CEO Tim Cook, who landed in India late on Tuesday said the company would establish a Design and Development Accelerator in Bengaluru, the home of India's startup scene. Tens of thousands of developers in India make apps for iOS, the world's most powerful mobile operating system and the foundation for iPhone, iPad and iPod touch. This initiative will provide additional, specialised support for them. Apple's team will work to inspire and instruct developers on best practices, help them hone their skills and transform the design, quality and performance of their apps on the iOS platform. "India is home to one of the most vibrant and e...

Why Did Apple Invest $1billion in Didi (China)?

18May By NitishNo Comments

Story

Why Did Apple Invest $1billion in Didi (China)?

From last 2-3 days, we were discussing a topic daily in our team meeting that Why Apple invested $1Billion in Chinese Taxi aggregator Didi xihuang? Why an iPhone maker company changes its strategy? Is this a master stroke from Apple to convince chinese government that they are not US based company only? Or Apple wants to show chinese people that they are ready to invests on chinese people on the theory of "if you care about us, we care about you"? Or A Gameplan from chinese government to show the world that how world's most innovative smartphone company depended heavily on China? Yesterday, I was watching a youtube video of Jack Ma (Alibaba founder) speech in Harward university, where he said that at business point both country's China and America should support and mai...

SIDBI Sanctioned Rs 1,000 crore to 30 Venture Funds

24Apr By AnkitaNo Comments

News

SIDBI Sanctioned Rs 1,000 crore to 30 Venture Funds

The Small Industries Development Bank of India (SIDBI) has sanctioned Rs Rs 1,416 crore crore to 30 venture funds through the government-financed India Aspiration Fund, which seeks to support startups in their early stages. Earlier this month, SIDBI signed a memorandum of understanding with Life Insurance Corporation of India under which the government-owned company would contribute 10% of the fund as a co-investor. "We got many proposals from funds, out of which 35 proposals were recommended by the VCIC to our executive committee. We have already approved 30 of the proposals worth Rs 1,000 crore," Shivaji said. The proposals are from venture funds such as IvyCap Ventures, Blume Ventures and Exfinity Venture Partners. SIDBI will provide these funds about 15% to 20% of their total ...

ICICI Banks Now Ready To Invest In Startups

19Apr By RishabhNo Comments

BUSINESS

ICICI Banks Now Ready To Invest In Startups

Country’s largest private sector lender ICICI Bank announced today about its interest in investing in startups in the financial technology space, even though it has not earmarked a dedicated corpus for the investments. (more…)

Data Centre Company Netmagic To Invest Rs. 2,000Cr To Set Up Two Data Centres!

17Apr By RishabhNo Comments

BUSINESS

Data Centre Company Netmagic To Invest Rs. 2,000Cr To Set Up Two Data Centres!

Netmagic plans to invest about Rs 2,000 crore to set up two new facilities, one each in Mumbai and Bengaluru, by April 2018, apart from increasing its headcount to meet growing business. The Mumbai-based company operates eight data centres in the country across Mumbai, Chennai, Delhi-NCR and Bengaluru. "When we launched our last projects in Bengaluru and Mumbai, we thought it would take 5-6 years to fill their capacity but within six months of the launch of Mumbai data centre, we have started to build two new facilities. We are seeing demand beyond our expectation," Netmagic Executive Director and President Sunil Gupta said to the source. He said there is huge demand from the e-commerce sector and the launch of 4G services will fuel demand for videos and high-definition content. ...

13Apr By AnkitaNo Comments

BUSINESS

Standard Chartered Will Invest $1.6 million in India For Eyecare Projects

Standard Chartered today said it will commit USD 1.6 million in India to five eyecare projects to bring in innovation and strengthen the delivery mechanism for the needy in 2016-19 under its Seeing is Believing programme. "Standard Chartered Bank today announced the launch of five new eyecare projects to bring in innovation and strengthen the delivery of eyecare to the needy between 2016 and 2019, with a donation commitment totaling USD 1.6 million," it said in a release. These projects will be delivered through a partnership forged among the bank, International Agency for the Prevention of Blindness (IAPB) and leading eyecare NGOs across 15 states, thereby pooling in resources and expertise. "Eyecare is a critical component of healthcare. By building eyecare capacity in the country...

12Apr By Press Trust of IndiaNo Comments

BUSINESS

PureCircle to Invest $200 mn in India

Malaysia-based natural sweetener firm PureCircle will invest USD 200 million (about Rs 1,330 crore) over 5 years in India as it forays into the country. PureCircle, which sells zero-calorie natural sweetener, stevia across the world, received FSSAI nod in December 2015. "We will invest USD 200 million over the next five years in India in supply/value chain, increasing cultivation, getting insights and so on. We are already in talks with multinational food and beverage companies," PureCircle Senior Director South Asia Region Ajay Chandran told PTI. Chandran said the companys clients in markets outside India includes Nestle, Pepsi, Coca Cola and Danone. The company plans to partner with Indian farmers for 5,000 hectares Stevia cultivation in India. Stevia is called Meeth...