IndiaNews for the week ending 13 October 2012 - Embassy of India ...


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India News

ewsletter for the week ending 13.10

India and Netherlands Agree to Strengthen Bilateral Cooperation

In order to strengthen bilateral cooperation, India an
d Netherlands have signed a memorandum of understanding (MoU)
in health and medicine, and a sectoral MoU between the respective food regulatory authorities to formalise cooperation
in the area of food safety.

US biotechnology tie
up to invest in joint research

Association of Biotechnology Led Enterprises (ABLE) and US
based Washington Biotechnology and Bio
Association (WBBA) have signed a memorandum of understanding (MoU) to enable co
operation in the field of

India cloud services market to cross $326 m in 2012: Gartner

The public cloud services market in India is projected to grow to US$ 326.2 million, registering 32.4 per cent growth in
2012, according to a report by Gartner.

NLC, UP govt firm ink pact for power plant

Neyveli Lignite Corp Ltd (NLC) has signed a memorandum of understanding (MoU)

with state
owned Uttar Pradesh
Rajya Vidhyut Utpadan Nigam Ltd (UPRVUNL) to set up a power project with an estimated investment of Rs 14,858
crore (US$ 2.85 billion) in UP.

US hotel chain Wyndham to open 70 hotels here by 2016

based Wyndham Hotel Group is set to expand to 70 properties in India by 2016. "India is a key market for us and we
have nearly double
d our presence in the past two years," as per Mr Frank Trampert, Managing Director (APAC),

India and

France sign Administrative Agreement in the field of Sustainable Urban Development

India and France have signed an administrative agreement in the field of Sustainable Urban Development in Paris,
France. The joint declaration would lead to enhanced coo
peration and deepen the engagement between the two

UK's Dashtag among 14 FDI proposals cleared by F

The Foreign Investment Promotion Board (FIPB) has cleared 14 foreign direct investment (FDI) proposals worth Rs
113.35 crore (US$ 21.67 million) including three from the pharmaceutical sector.

HDFC Bank opens representative office in Abu Dhabi

HDFC Bank, the second
largest private sector bank in India, has opened its first representative office in Abu Dha
bi to
provide services to the non
resident Indians (NRIs) based in UAE.

Blackstone invests $100 mn in Internat
ional Tractors Ltd

Blackstone Capital Partners (Singapore), a Blackstone Group affiliate, has signed an agreement to acquire 12.5 per cent
stake of International Tractors Ltd (ITL) in a structured transaction worth US$ 100 million.

NSIC launches programme for women entrepreneurs

The National Small Industries Corporation (NSIC) has launched a specialised incuba
tion programme for girls and
women to set up their own businesses.

Affordable electricity to all households i
n 5 years: PM

The Government of India plans to offer affordable electricity to all households in the country in the next five years, as per

Dr Manmohan Singh, Prime Minister of India.

Iraq set to become India's strategic energy partner: IEA Chief Economist

Iraq could become India's strategic energy partner, according to Mr Fatih Birol, Chief Economist, Intern
ational Energy
Agency (IEA). Iraq has become India's second largest crude oil supplier.

RBI continues with enh
anced all
cost ceiling for overseas borrowing

The Reserve Bank of India (RBI) has decided to continue the enhanced all in cost ceiling for external commercial
borrowing (ECB) and trade credits.

Railway Revenue Earnings up by 19.78 per cent during April

September 2012

Indian Railways have generated earnings worth Rs 58,649.83 crore (US$ 11.10 billion) dur
ing April 2012 to September
2012, up 19.78 per cent from the same period last year.

Ranbaxy launches cevimelin
e hydrochloride capsules in US market

Ranbaxy Pharmaceuticals has launched the authorised generic cevimeline hydrochloride 30 mg capsules in the US
market, under an agreement with Daiichi Sankyo.

India gaining importance in G20: Bernanke

India is gaining in importance among the G20 countries, in terms of its role in the global economy, according to Mr Ben
rnanke, Chairman, US Federal Reserve.

IT spending will rise 7.7% to $71.5 b in 2013: Gartner

Information tec
hnology (IT) spending in India is projected to reach US$ 71.5 billion in 2013, an increase of 7.7 per cent
as compared to US$ 66.4 billion projected for 2012, as per a report by Gartner.

Indian engineering services in demand, says Nasscom

Indian engineering research and development (ER&D) outsourcing industry is set to reach US$ 37 billion

US$ 45 billion
by 2
020, according to a report by Nasscom and Booz & Co. This will be about 35 per cent of the overall ER&D market.

Karnataka Bank signs MoU with management consultant KPMG

Karnataka Bank Ltd has signed a memorandum of understanding (MoU) with KPMG Advisory Services Pvt Ltd for its
business process re
engineering initiative. KPMG will provide hand holding support
with its dedicated team positioned at
the bank's headquarters.

Mercedes rolls out first SUV made in India

rcedes Benz India has rolled out the first locally assembled SUV, ML 250, from its Chakan plant, near Pune. The
company has also announced the starting of its new, start
art paint shop that is capable of water
based painting.

India Inc raised ECB of $2.4 bn in August

India Inc raised US$ 2.36 billion through external commercial borrowings (ECBs) and for
eign currency convertible bonds
(FCCBs) in August 2012.

Telecom tower business gets infrastructure status, inv
estments may soar

The Government of India has granted infrastructure status to the telecommunication tower provider industry, a move that
is likely to ensure multiple benefits to the sector as well as boost investments.

'India mobile handset sales to touch 251 million units in 2013'

Mobile device sales in India is expected to reach 251 million units in 2013,
registering an increase of 13.5 per cent as
compared to 2012 sales. The mobile handset market is expected to surpass end
user sales of 326 million units in 2016,
according to a study by Gartner.

Dolce & Gabbana, Stella McCartney and Alexander McQueen plan JVs in India to open exclusive stores

Luxury fashion and lifestyle brands, Dolce & Gabbana, Stella McCartn
ey and Alexander McQueen, plan to form joint
ventures (JV) in India to sell their clothing, bags and shoes through exclusive stores.The Indian luxury market is
projected to reach US$ 14.7 billion in 2015.

Potential customers change mind after online research

Seven out of ten customers change their mind about financial products and brands after they research abo
ut the
products on the internet, as per a study by Google India.