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                                   - A Fortnightly Digest -
                                            from      from
                                      Embassy off IIndiia,, Sana’’a
                                      Embassy o nd a Sana a

Issue No. 01 /2012                                                                 1 August 2012

                                                                                                     Page No.
Indian Economy                                                                                          2

Economic sectoral news                                                                                  6

Foreign Direct Investment                                                                               8

Indian Investments abroad                                                                              13

India-Yemen news                                                                                       16

Tender news                                                                                            16

Business events in India                                                                               17

Business offers for Yemenis                                                                            20

Please write with your views and comments to:
Information has been collected and collated from different published sources. The Embassy of India, Sana’a
[Yemen] does not take any responsibility for its accuracy.

                        INDIAN ECONOMY
India beats China in export growth rate: WTO

According to the World Trade organization (WTO) report of 2012, India has overtaken China
in export, growth rate. According to the WTO sources there has been an increase in 16.1 %
in the exports in the year 2011, thus making India on the top of the list of all major trading
countries in the world. According to KT Chaco the director of Indian Institute of Foreign
Trade, (IIFT) the major reasons for such as result is because of the diversification of
markets to the Middle Eastern countries, South East Asia and China, which has helped the
Indian exports. So is the view of Rafeeq Ahmed the President of Federation of Indian Export
Organization (FIEO), he also views that market and product diversification also helped to
gain positive result.

Government plans Business index for industry

The ministry of corporate affairs of India is all set to implement business index for the Indian
industries. The government has been in touch with a major American consultancy Dun &
Bradstreet (D&B) to develop a business index for the Indian industry. According to
Veerappa Moily the minister of corporate affairs business index is aimed at assessing the
competitiveness of Indian industry with other countries. He also added that with the
business index other economies of the world will be able to access the capabilities of the
Indian corporate sectors. Yet another aim of the government with the business index is to
solve issues related with foreign investment promotion board clearances, prune obstacles
for industry, simplify procedure for revival of sick units etc. Source: The Times of India

Reserve Bank of India eases derivative contract norm

Banks need not classify hedging of derivative contracts that are terminated partially or fully
as restructured accounts. The move, announced by the Reserve Bank of India (RBI) on
Monday, would ease banks’ provisioning burden. Banks have also been permitted to allow
payments in installments if the mark-to-market (MTM) value of the terminated derivative
contract, including the foreign exchange forward contract, is not settled in cash. In addition,
the repayment installments for the MTM items should be uniformly received over the
remaining maturity of the contract and its periodicity should be at least once in a quarter, the
central bank said. Source: Business Standard

Rural India epicenter of the India growth: HUL

India must converge to make real progress and take the country on the global stage and
that prosperity would have to come from villages, towns and cities. On challenges faced by
rural India, he said agricultural growth could pick up to 4 per cent as envisioned by the
Planning Commission. He went on to add that the cascading impact rural prosperity would

have on the national economy, could add up to an additional 2 per cent to the national GDP
growth and enable double digit growth. Source: The Hindu Business Line

Government approves ninth manufacturing zone at Nagpur

The Union Minister of Commerce, Industry and Textiles Mr. Anand Sharma announced the
plan to set up of India’s ninth National Investment and Manufacturing Zone (NIMZ) at
Nagpur. The proposed NIMZ, the third in Maharashtra, would be situated in Kuhi and
Umred Taluka of Nagpur district on 6,280 hectares. Further, it is likely to attract investment
of US $ 50 billion and provide direct and indirect employment to about 2, 60,000 people, the
statement added. Source: The Hindu Business Line

Minister of Commerce announces US $ 14 billion infrastructure projects in Haryana

Union Minister for Commerce, Industry and Textiles, Mr.Anand Sharma announced
investment of US $ 14 billion entailed in projects coming up in Haryana including National
Manufacturing Investment Zone at Manesar-Bawal Investment Region, Setting up of a
National Institute of Design at Kurukshetra, National Institute of Fashion Technology (NIFT)
in Panchkula and an International Horticulture Hub, Gannaur. Source: The Economic Times

SEBI sets guidelines for offer-for-sale by promoters

The Securities and Exchange Board of India has laid down comprehensive guidelines for
promoters seeking to offload stake via offer-for-sale (OFS). SEBI has mandated that the
OFS facility would be available only on the NSE and the BSE. OFS can be used by
promoters of companies who wish to attain minimum public shareholding of 25 per cent by
June 2013. Eligible promoters should not have bought or sold the company shares 12
weeks before and should not buy or sell share 12 weeks after the OFS. It can be withdrawn
before opening and another offer can be made by the promoter only after a cooling off
period of 10 trading days. Source: The Hindu Business Line

New body for faster clearance of infra projects

To expedite project implementation, the government announced a single-window
mechanism under the Cabinet Secretary for review and issue of clearances associated with
major projects. After putting in place a problem-resolution mechanism for infrastructure
projects and an investment tracking system for projects over US $ 2 billion directly under
the Prime Minister’s Office (PMO), the government has decided to set up a project
clearance board, on the lines of the Foreign Investment Promotion Board (FIPB), chaired by
the Cabinet Secretary, for review and issue of one-time clearances, including security
clearance. Source: Business Standard

India, Russia to study economic pact with Belarus, Kazakhstan

India and Russia have jointly agreed to study a comprehensive economic co-operation
agreement with Belarus, Kazakhstan and the Russia Customs Union. Both side exchanged
constructive views on various aspects of trade and investment co-operation between India
and Russia. India had sought a solution to outstanding problems confronting businessmen

and both agreed to redouble efforts to achieve a US $ 20-billion trade target by 2015. Source:
The Hindu Business Line

India, China lead growth of global economy: Standard Chartered

Emerging economies India and China are leading the global economy on a '32-62-72'
growth path. Despite the crisis in the West, the world economy continues to grow, led by the
likes of China and India. Gerard Lyons, Standard Chartered’s Chief Economist used the
numeric phrase '32-62-72' for evolving economic size of the world. Explaining the phrase,
he said the global economy had increased from US$ 32 trillion in 2000 to just under US$ 62
trillion on the eve of the crisis and, in nominal terms, it is set to reach US$ 72 trillion at the
end of this year. Source: IBEF

Indian Biotech Industry's five year growth at 19%: E&Y

The biotechnology industry in India is at a critical juncture. While the industry has been
growing at a CAGR of 19% rate over the last five years, it has concurrently been facing
diverse challenges that have prevented the industry from transcending to the next level. The
industry size stood at US $ 4 billion for FY 2010 - 2011. The biopharmaceutical industry
constitutes 60% of the biotech industry in India and grew at 21% y-o-y to reach US$2.3
billion in 2010-11, which is approximately 15% of the Indian pharmaceutical industry in
value terms. Vaccines, insulin, erythropoietin and monoclonal antibodies have been the
mainstay of the bio pharmacy segment. Source: The Economic Times

New Zealand-India pact to boost bilateral trade

New Zealand and India bilateral trade is poised for big spurt with more businesses looking
at cooperation and the possibility of expanding the number of goods. New Zealand has
abundant high grade iron sands that can be a replacement for iron ore used in the steel
industry. There is potential to supply wood for construction sector. Recent statistics shows
that the trade volume increase in fruit and commodities such as metals. There are
opportunities to partner in number of areas, including food and agricultural technology, IT,
wood and building, specialized manufacturing, aviation training and services. Source: The
Hindu Business Line

System to monitor PPP projects okayed

To ensure timely completion of projects undertaken in public-private partnership (PPP)
mode, the government on Thursday decided to set up an institutional mechanism to
oversee contract performance during the construction stage. The mechanism will also
monitor a project in the post-construction usage stage. It will have a two-tier system —
Projects Monitoring Unit and Performance Review Unit. Source: The Times of India

Electronics manufacturing units get US $ 6 billion worth incentives and subsidies

India has set aside US $ 6 billion worth of incentives and subsidies to encourage firms to
set up electronics manufacturing units in the country. Startups interested in creation of apps
for mobile phones, tablets and other electronic hardware will also benefit, as a package of

US $ 2 billion is in the offing for them. About US $ 4 billion has already been approved.
While the rest has been put forth for approval by the Cabinet for startups interested in IP
creation, as an electronic development fund. The fund will also be used for providing
incentives to the tune of 20-25% as subsidy for capital expenditure incurred.. Source: The
Economic Times

India third most attractive FDI destination, says UNCTAD report

Most of the 179 global companies surveyed between February 2012 and May 2012 placed
India as their third-favored investment destination, according to the United Nation's
Conference on Trade and Development's (UNCTAD) World Investment Report, 2012.
Foreign direct investment (FDI) flows into India increased 30 per cent to nearly US $ 32
billion in 2011, and the country remained the largest recipient of FDI in south Asia. FDI
growth seems to be keeping its momentum in 2012, pointing to IKEA and Coca Cola's
recent investment announcements. Source: IBEF

India will be Asia's fastest growing exporter and importer in five years: HSBC report

Over the next five years, India will serve as Asia's fastest growing exporter and importer
with annualized growth averaging 5% and 7% respectively. The trade relationship between
China and India will strengthen over the same time period, with HSBC forecasting Chinese
imports into India to grow at 11% annually, while exports to China from India are forecast to
expand at 8% annually to 2016. Trade in Asia is expected to grow 5.4% annually to 2016,
substantially higher than the global forecast of 4.7%.India's trade corridors within Asia
continue to strengthen with exports to Malaysia, Vietnam and Indonesia all expected to
grow at around 11% over the next five years. The fastest growth markets in terms of imports
include Oman at a forecast rate of 15.7% and Brazil at 14%. Source: The Economic Times

India ranked second in Global Innovation Efficiency Index.

India takes the second spot in the Global Innovation Efficiency Index, a metric to assess the
innovation landscape in different countries. INSEAD and the World Intellectual Property
Organization (WIPO) published a report titled 'Stronger Innovation Linkages for Global
Growth' which benchmarks the performance of different countries in addressing the gaps in
the innovation cycle by developing products and services for emerging markets. The report
ranks 141 countries/economies on the basis of their innovation capabilities and results.
Source: The Times of India

Indian market expected to produce 32,000 medium-heavy-duty hybrid and electric
commercial vehicles in 2020

India is emerging as one of the world's key markets for hybrid and electric medium-heavy-
duty trucks and buses. Changing market dynamics and customer perceptions towards
green technologies have made the price sensitive Indian customers migrate towards new
vehicle technologies. New analysis from Frost & Sullivan Strategic Analysis of Medium- to
Heavy-duty Hybrid and Electric Commercial Vehicle Market in China and India, finds that
component revenues from India will reach US $ 212 million by 2020, accounting for 11
percent of the global component market. Driven by energy price volatility and rising

consumer awareness, the market for hybrid and electric commercial vehicles (CVs) is
experiencing considerable momentum. Of all of the alternative power train technologies,
hybrid technology poses the least pressure on existing infrastructure. Source: The Times of India

Gilt trading platform for retail users goes live

Retail participants can now manage their government bond holdings directly, with the help
of a web-based trading platform supported and run by the Clearing Corporation of India
Limited (CCIL). To promote retail participation in sovereign debt, the Reserve Bank of India
(RBI) had allowed direct access to bond holders in the Annual Monetary and Credit Policy
for 2012-13. To gain access to the Negotiated Dealing System-Gilts Order Matching System
(NDS-OM), or the secondary market for government bonds, retail participants have to
submit a request with the primary member, who would ensure know-your-customer norms
are fulfilled. The primary member would then approach CCIL with e-tokens, digital
certificates and passwords for its users. Source: Business Standard

 Economic sectoral news
BHEL commissions 5 Mw solar power plant

Bharat Heavy Electricals Ltd (BHEL) has commissioned a 5-Mw grid-connected solar power
plant at Shivasamudram near Mandya. This is the single largest solar photovoltaic (PV)
power plant in Karnataka.The plant has been set up by BHEL for the state-owned power
producer, Karnataka Power Corporation Limited (KPCL), at a cost of USD- 1.148 million.
With the commissioning of this unit, the company has set a new record in its solar PV
business in a single year, by commissioning 15 Mw of solar power plants in various parts of
the country during fiscal 2011-12, marking a significant contribution to the nation’s green
initiatives. Backed by a vast experience and expertise of nearly three decades in Power
Electronics & System integration, BHEL is a leading player in the field of solar
photovoltaic’s, from Solar Cells to System Integration of SPV power plants in India. Source:
Business Standard

Government to set up testing labs for IT products

The Government is planning 15 new laboratories for testing hardware and software
products. The labs would be set up under public private partnership (PPP) model. These
labs will enable IT companies to register and test their products before selling it in the
market. There are already five such laboratories under Department of Electronics and
Information Technology (DeitY) in Delhi, Noida, Bangalore, Kolkata and Mumbai. The
proposed scheme would be similar to automobiles sector, wherein the Automotive
Research Association of India, situated in Pune, provides certification to each vehicle before
they hit the roads. Source: The Hindu Business line

IIT classroom content to be available on You Tube Education hub
National Programme on Technology Enhanced Learning (NPTEL)— an initiative by IITs and
ministry of human resource development— is readying an offering of 1,200 courses

YouTube Education was launched in 2009 globally and has been actively looking for
partners in India for the last two quarters. Traction in India improved three folds in the last
two years from 11 million unique users per month to 33 million. There is a better reach with
broadband reaching more people in the country. Source: The Economic Times

Mobile banking transactions rise five-fold in Jan-May
The value of mobile banking transactions witnessed a sharp jump in the first five months of
2012. The steep increase can be attributed to initiatives taken by banks such as State Bank
of India (SBI) and Industrial Credit and Investment Coorporation of India (ICCI) Bank and
mobile service providers such as Airtel to promote mobiles as medium for bill payments and
fund transfers. A total of 1.5 crore mobile transactions took place during the five-month
period compared with around 0.5 crore transactions in the year-ago period, a clear sign that
the payment medium has gained traction. Source: The Hindu Business line

GSPL-led consortia ties up funds for US $ 2740000 pipeline projects

Gujarat State Petronet Ltd and its project collaborators have sewed up funds valued at
around US $ 19 billion for two pipeline projects. The joint venture has secured financial
closure for three cross-country pipeline projects involving a total investment of about US $
27.4 billion .The GSPL-led joint venture company GSPL India Transco Ltd signed an
agreement on June 29 for a syndicate loan of US $ 10.16 trillion with a consortium of 14
banks for its Mallavaram-Bhopal-Bhilwara-Vijaipur pipeline project. Another joint venture
company GSPL India Gasnet Ltd has entered into an agreement for a US $ 9.32 billion loan
with a consortium of 12 banks for its Mehsana-Bhatinda-Jammu-Srinagar pipeline project.
Source: The Hindu Business Line

Government plans US $ 4 billion fund for pharmaceutical sector

The government is planning to set up a venture capital fund with a corpus of US $ 4 billion
aimed at strengthening research and development capabilities in the pharmaceutical sector.
They assured industry representatives that the government will take up the issue of non-
tariff barriers being mounted by the US and the EU against Indian pharma industry in
bilateral forums at appropriate levels. The substantial opportunities exist for Indian
pharmaceutical industry in emerging economies such as Russia, Africa, South America.
The industry leaders made a strong plea for timely approvals and procedural simplification
by the Drug Controller General of India for clinical trials, import of samples among other
issues. Source: The Times of India

                           INTO INDIA
Japanese firms keen on Indian power sector

Japanese power equipment companies and lenders are keen to work with Indian
companies in all spheres of the power sector, according to a senior official from the
Japanese Ministry of Economy. There is considerable technological and engineering
capability that the Japanese companies such as Toshiba, Hitachi and Mitsubishi can offer to

Indian companies in the power sector. Japan International Cooperation Agency and several
Japanese banks are keen to take part in some of the power projects being taken up and
under implementation directly or through companies. Source: The Hindu Business Line

Yamaha plans to use India as key global hub

Yamaha Motor of Japan is planning to use India as one of its key global hubs for
motorcycles and scooters. High-end models could be exported to the ASEAN region and
Japan, low-cost models would be the best bet for emerging nations such as Africa. The idea
is to optimise the robust ancillary supplier base here which offers the best in quality and a
competitive costing structure. Source: The Hindu Business Line

Hero Moto Corp to invest US $ 32 million in the Global Parts Centre in Rajasthan

Hero Moto Corp, the world's largest two wheeler manufacturer has announced setting up of
Global Parts Centre (GPC) at Neemrana, Rajasthan. To be set up with an investment of US
$ 32 million, the Global Part Centre will be spread across 35 acres, said Pawan Munjal, MD
& CEO, Hero Moto Corp at the company's Global Supply Chain Partners Conference 2012
in St. Petersburg, Russia. The Global Parts Centre is expected to be operational by Q3 of
FY-14 and will initially employ 400 personnel. Source: The Economic Times

Teva, P&G form JV to set up manufacturing facility in Gujarat

The US-based Procter & Gamble (P&G) and Israel's Teva Pharmaceutical Industries plan to
enter India through a joint venture (JV) by setting up their first manufacturing facility at
Sanand, Gujarat, with an initial investment of US$ 44.67 million. The manufacturing facility
is planned on 15 acres and is proposed to have two separate lines, one for manufacturing
Ayurvedic drugs and another for allopathic medicines. High-tech equipment and adhering to
Good Manufacturing Practices (GMP) norms to make products both for Indian and overseas
market will be used. TPI and P&G joint venture P&G Teva would set up over-the-counter
(OTC) drug manufacturing facility at Sanand with an initial investment of US$ 44.67 million.
Source: IBEF

Abhijeet Power, CLSA among 14 FDI proposals cleared

The Government has given a green signal to a US $ 134.8 million foreign investment
proposal by Abhijeet Power Ltd and another CLSA Singapore’s proposal to invest US $ 45
million in the country. These are among the 14 foreign direct investment proposals
approved by the Government amounting to US $ 316.1 million. Source: The Hindu Business Line

ONGC, Australian varsity ink pact to tap unconventional oil resources

ONGC and an Australian University have set their eyes on tapping oil resources in some
tough and challenging locales in India called basement reservoirs. The research initiative
will evaluate the potential of these unconventional oil resources. The School of Petroleum
Engineering at the UNSW (University of New South Wales) and the ONGC have forged a
research agreement. The project will assess the feasibility of recovering hydrocarbon fuel
from these hard to access, offshore geological structures called basement reservoirs.

ONGC is keen on its Mumbai offshore basin. The US $ 2.05-million project would be
executed over the next two-and-a-half years. This is the fourth major project between
UNSW and ONGC since first signing a memorandum of understanding in 2002. Source: The
Hindu Business Line

Eicher Motors signs strategic joint venture with Polaris Industries

Eicher Motors has signed a strategic joint venture agreement with US based powersports
major, Polaris Industries, to set up a greenfield project in the automotive sector. The
definitive agreement, signed between Siddhartha Lal, MD & CEO, Eicher Motors and Scott
W Wine, CEO, Polaris Industries envisages the creation of a 50:50 joint venture company.
The joint venture company will design, develop, manufacture and sell a full new range of
personal vehicles suitable for India and other emerging markets. The manufacturing facility
will be located in India and the joint venture partners are currently evaluating locations to set
up the facility, with production expected to start in 2015. Source: The Economic Times

India gets $5 million in first QFI investment; Kotak Mahindra Bank seals deal for US-
based client

India has received its first investment through the Qualified Framework Investor (QFI) route,
putting an end to doubts that the country's attempt to get investors to buy shares directly will
be a non-starter. Kotak Mahindra Bank has concluded the deal worth $5 million for a US-
based client, said a finance ministry official. The finance ministry expects the scheme to
attract investment worth about $30 billion over next 15-18 months, helping the country fund
a chunk of the current account deficit pegged at 4.2% of GDP in 2011-12. The finance
ministry had held extensive road shows in five countries in the Gulf region--Riyadh, Dubai,
Muscat, Kuwait and Bahrain - to project India as the incredible investment destination for
wealthy investors. There is tremendous interest in this scheme. India expects it to get
investment worth 30-40 billion dollar over next 2 years. Source: The Economic Times

Pearson and Government of Assam announces initiative for vocational training

The Government of Assam (GoA) and education services provider Pearson have
announced a joint initiative to provide vocational skills training to school students in Assam.
This public-private partnership will serve as a platform for the introduction of the national
vocational education qualification framework, a national program to integrate skills, training
and qualifications in schools. Pearson will set up vocational skills centers in 10 selected
government schools, initially offering training in streams like retail and computer hardware
and IT. The courses will be introduced for students in standard IX in August 2012, before
moving into higher classes with a wider portfolio. Source: The Economic Times

Pratt & Whitney Opens full-time research office at Indian Institute of Science (IISc),

Pratt & Whitney, a United Technologies company, opened an office at the Indian Institute of
Science to increase its long-term commitment to conduct advanced research in gas turbine
jet engine technology in India. The office will support a full-time endowed professorship in
gas turbine engineering at the institute and visiting Pratt & Whitney employees and

executives who conduct research at the institute. The company recently increased its
funding commitment to the professorship to make the chair self-sustaining and will
announce a full-time professor in the near future. Source: The Economic Times

Isuzu Motors plans US $ 200 million plant in India

Isuzu Motors Limited, is mulling an entry into India's fast growing small commercial vehicle
and multi utility vehicle segment to take on Tata Motors Ace and Mahindra & Mahindra's
utility vehicles. The US $ 17.1 billion Japanese auto firm is planning a greenfield facility in
India, which may entail an investment of over US $ 200 million. Isuzu team met state
government officials of Andhra Pradesh, Tamil Nadu and Gujarat to explore plans for
locating a new factory. The proposed facility is expected to have a capacity of 1,00,000 to
1,20,000 units and is likely to come up by 2014-2015. Source: The Economic Times

Ford expands diesel engine capacity at Chennai plant

Ford India has expanded the diesel engine production capacity at its plant in
Maraimalainagar, near Chennai. This, the company hopes, will help address the supply
constraint it faced early this year. In the first quarter of the year, Ford India’s Chennai plant
was unable to meet the demand for diesel power-trains. Customers had to wait for three
months to have their cars delivered. The plant can now produce 3.4 lakh engines a year –
up from 2.5 lakh in 2010. It can also make two lakh cars annually. Source: The Hindu Business

Gujarat, Germany to set up business centre

A German Indian business centre (GIBC) has been proposed in the state to facilitate
business opportunities between Germany and Gujarat for setting up of offices, technology
transfers and joint ventures. The centre will facilitate investment between companies in
Germany and Gujarat. Among other activities, GIBC will facilitate acquisition of German
companies for Gujarat companies along with taking care of due diligence. The centre will
also scout for and register technology partners in both countries. Source: The Times of India

Global frozen yogurt player Yogurberry to expand operations in India

Korea-based frozen yogurt maker Yogurberry said it will set up seven fresh stores in the
country by end of next year and another 100 over the next five years. The expansion plan
will begin with new stores in Chennai and Bangalore, and additional stores in cities like
Delhi-NCR and Mumbai. After setting up stores in metros, the yogurt-maker said it will
expand to tier-2 and tier-3 cities. The South Korean firm has set up its operations in India
through Dubai-based franchise operator - Synergy Holdings - as its master franchise. An
official at Synergy Holdings said the franchisee plans to invest US $ 10 million in the current
financial year to expand operations. Source: The Economic Times

Gujarat Pipavav Port to invest US $ 219.4 million on capacity expansion

Gujarat Pipavav Port Ltd (GPPL) plans to invest US $ 219.4 million on expansion of
Pipavav Port in Gujarat and has also concluded a capital-raising exercise of US $ 70 million

through Qualified Institutional Placement (QIP) and a preferential issue to its promoter,
mainly to prepay the existing loan. The company is proposing an expansion of the
infrastructure facilities at APM Terminals at Pipavav in Gujarat to increase capacity and
enhance operational efficiencies. We propose to increase capacity for container cargo to
about 1.5 million TEUs and the capacity for bulk cargo to 10 million tones. Source: The Hindu
Business Line

BPCL, LG Chem ink MoU for petrochemical project

Bharat Petroleum Corporation Ltd (BPCL) and LG Chem., South Korea, today signed a
MoU to establish a petrochemical plant adjacent to BPCL’s Kochi refinery complex at an
estimated investment of US $ 8 billion -US $ 12 billion. BPCL would be investing nearly US
$ 28 billion over the next five years in expanding its Kochi refinery. As part of this project, it
would be establishing a petrochemical fluid catalytic cracker to generate 500 TMTPA of
propylene. This would offer BPCL a launch pad for diversification into petrochemicals.
Completion of the project would be dovetailed into the refinery expansion project. Source: The
Hindu Business Line

Carl Zeiss opens development unit in Bangalore

The 4.2-billion euro German manufacturing company Carl Zeiss has established a research
and development unit and two manufacturing facilities in Electronics City in Bangalore. Carl
Zeiss has been present in India since 1998, but largely as a sales and service business.
The company manufactures an array of products ranging from prescription spectacle lenses
to diagnostic and surgical equipments that are used in the fields of ophthalmology, neuro-
surgery and cancer treatment, and in camera lenses. Source: The Times of India

India gets lion's share of European Union's research budget for 2013

The European Union recently announced the biggest ever set of calls for proposals
(invitations to bid for funds) for research under its Seventh Framework Programme (FP7). In
total of 8.1 billion this worldwide call will support projects and ideas that will tackle issues
such as human health, protecting the environment and finding new solutions to growing
challenges linked to urbanisation and managing waste. The funding is open to organisations
and businesses in all EU member states and key partner countries. India makes up the
lion's share of the EU's research budget for 2013. Source: The Times of India

Yahoo! India R&D sets up Grid Computing Lab at IIT Madras

 Yahoo! India R&D in partnership with the Indian Institute of Technology Madras (IIT-
Madras) today announced the launch of Yahoo! Grid Computing Lab at the IIT- Madras
campus. This cluster of high-end servers at the lab will allow researchers to access web-
scale data and conduct research on big data and cloud computing systems. Cloud services
empower companies to dramatically improve agility and innovation at web scale. As more
companies are moving their services to the cloud, it has emerged as an important area of
research to explore new approaches in the field. Source: The Economic Time

ADB extends 150 million dollar loan to develop India's railway system

Asian Development Bank (ADB) and the Government of India have signed a US 150 million
dollar loan for 1st tranche of railway sector investment programme aimed at improving rail
freight services and passenger transport routes. New signaling will also be installed. ADB
will also support accounting reforms to improve operational and financial efficiency at Indian
railways. The programme will reduce fuel consumption and enhance energy efficiency;
reduce pollution; enhance railway safety; increase the line capacity; benefiting consumers
and producers of goods and services; improve staff productivity; and incorporate innovating
financing modalities by pursuing carbon credits under UNFCCC. Source: The Times of India

Swedish firm, I-Pru jointly launch Nordea 1 India fund

Swedish company Nordea Investment Management AB has partnered with ICICI Prudential
AMC and launched Nordea 1 India Equity Fund in Europe. ICICI Prudential AMC will
provide advisory services to this fund. Nordea is a large European financial services group
with a market capitalisation of €24 Bn ($30 billion) and total assets of €716 billion ($895
billion). Source: The Hindu Business Line

DHL Group to invest US 4.2 billion in India

Global logistics major DHL group plans to invest close to €300 million (nearly Rs 2,100
crore) in the coming years in India. DHL will pump in up to €300 million into India in the
coming years. The focus will be on developing free trade houses, create specialised
industry verticals, reach out to the SMEs with tailor-made products, cross-sell DHL brands
and to attract talent. Source: The Hindu Business Line

India to acquire coking coal mine in Mongolia

In a move to reduce dependence on highly priced Australian coking coal, India will acquire a
mine in Mongolia and also set up the first steel plant in the quality coal rich country. The
plan is to acquire the mine, utilize the coal for the steel plant India proposes to set up in
Mongolia and export the rest to India through Chinese ports as Mongolia is a land locked
country. The mine India plans to acquire will first meet the requirement of setting up a steel
plant there. Source: The Hindu

Top 20 firms hold $80 billion in assets abroad

Twenty top Indian companies together hold assets worth $80 billion abroad with the top five
among them holding a major share of $50 billion. Reliance Industries, Tata Group,
Hindalco, Infosys and Wipro figure among the top five transnational companies (TNCs)

along with the public sector oil major Oil and Natural Gas Corporation. The total foreign
revenues of these 20 companies are estimated at $126 billion with top five contributing 69
per cent of the total. Four of the top five companies belong to the manufacturing sector
while four domestic IT majors Tata Consultancy Services, Infosys, Wipro and HCL
Technologies are present in the list of top 20 firms. The figures form part of the first-of-its-
kind Transnationality Index (TNI) prepared by the Indian School of Business (ISB) in
association with its Brazilian counterpart Fundacao Dom Cabral. Source: The Hindu

Wipro to buy analytics firm Promax for $36 million

Information technology (IT) services provider Wipro announced it had signed an agreement
to acquire Australian analytics company Promax Applications Group (PAG) for A $ 35
million (around $36.5 million). It expects the all-cash deal to be closed this quarter, though
its “impact on its revenues during the quarter will be negligible”. The newly formed entity will
be called Wipro Promax Analytics Solutions Pty Ltd. Promax derives its revenues by
licensing software products and solutions in trade promotion planning, management and
optimization. The company customers include Johnson & Johnson, L’Oreal, Kraft, Kimberly
Clark and Henkel. Source: Business Standard

Logistics firm DTDC buys 53% stake in Eurostar Express

Logistics major DTDC Courier and Cargo has acquired 53% stake in UAE-based Eurostar
Express for an undisclosed amount. The acquisition allows DTDC to combine its strength
with Eurostar and penetrate and consolidate its presence all over the West Asia, including
GCC and MENA areas, more comprehensively.The acquisition will enable the Bangalore-
based company access to the robust infrastructure and quality delivery capabilities in Dubai
and Abu Dhabi. Source: Economic Times

ICRA arm picks up majority stake in US tech firm

ICRA Techno Analytics Ltd (ICTEAS), a wholly owned subsidiary of ICRA Ltd. signed an
agreement for a 50.5 per cent stake for about $ 8 million in BPA Technologies, Inc., A
California-based global business consulting and software technology services firm. The
equity valuation is based on earnings. The deal would lend city-headquartered ICTEAS
greater access to the US market. Source: Hindu Business Line

Madhucon Projects signs PPA for 300 MW Indonesian power project

Indian infrastructure firm Madhucon Projects, which is setting up its first overseas power
project in Indonesia announced the signing of a power purchase agreement (PPA) with the
Indonesian government power utility PTPLN (PERSERO). Madhucon, which is currently
setting up 1,920MW of power projects near Krishnapatnam in Andhra Pradesh, has won the
bid to build the 300MW mine mouth coal fired steam power plant at Dawas in South
Sumatra involving an investment of $410 million. Of the project cost of around US $ 4

billion, Madhucon Projects will infuse US $ 65 million as equity while the other group
companies will invest US $ 25 million wherein the project will be funded through a debt-
equity of 75:25. Source: Economic Times

Tata coffee brand to brew in US, Canada

Green Mountain Coffee Roasters, a specialty coffee roaster, and Eight O’clock Coffee
Company (a Tata Global Beverages brand) announced a multi-year agreement to make
Eight O'Clock coffee, Tetley tea, and Good Earth tea available in different formats. Eight
O'Clock Coffee Company and Green Mountain also plan to make a select offering of Eight
O'Clock coffee ‘K-Cup' packs available through in-home and away-from-home channels.
Now they will have a whole new, convenient way to make America's original gourmet coffee
with Keurig, America's favorite single cup brewing system. Source: The Hindu

Registration mandatory for investment overseas

Core investment companies (CICs) making overseas investment in the financial sector will
require a Certificate of Registration (CoR). Currently, CICs with an asset size of less than
Rs 100 crore are exempt from registration with the RBI. Investment in the non-financial
sector by such exempted CIC, however, will not require CoR. CICs with an asset size of US
$ 2 billion or more are considered as systemically important core investment companies and
require to a CoR from the RBI. CICs are purely investment companies that invest in shares
and securities of subsidiary companies and joint ventures. Source: Hindu Business Line

Ybrant buys 3 of Experian's US-based firms for $175 million

Indian digital marketing and advertising firm Ybrant Digital has announced acquiring three
US-based firms belonging to the UK-based company Experian for $175 million, making it its
largest ever acquisition. Ybrant has a track record of eight acquisitions including the search
engine firm Lycos for $36 million. The three firms being bought now include Price Grabber
into online comparison shopping, Lower My Bills into personal finance and Classes USA
into educational services. With the latest buys, Ybrant becomes the world's second largest
digital marketing and advertising company in the $70 billion global market after the US-
based Value Click that reported $560m of sales last year. Source: Economic Times

                  INDIA-YEMEN NEWS
Indian doctors concern for Yemeni hearts
A team of Indian doctors from the Marian Cardiac Centre and Research Foundation visited
Yemen to provide medical operations for Yemeni patients who suffer from cardiac
problems. The team was invited by the Ministry of Telecommunications to provide the
employees of the ministry and other Yemenis with complex cardiac operations in Al-Thawra
hospital. The Indian team has provided a diagnosis for over 400 Yemeni patients as a first

step. The team performed an urgent artery implant operation for an old Yemeni woman. In
their next visit, they will perform operations for those who have been diagnosed.
The Marian Cardiac Centre aims to deliver the highest level of cardiac care, regardless of
income, religion or social category. The centre also aims at providing physicians with
training as well as carrying out basic and advanced research in the field of cardiology.
Source: Yemen Times

Liver transplant in India saves Yemeni boy

Malek family from Yemen had lost all hope when nine-year-old Abdul was diagnosed with
the same liver disease that had killed his two siblings. But the boy has got a new lease of
life after doctors from India did a complicated liver, transplanting a portion of his father’s
liver into his.Abdul was diagnosed with a liver disease that was followed by jaundice and an
enlarged liver. The disease begins in infancy and so many children are not able to receive
timely liver transplant due to lack of awareness stated Head of department of liver
transplant in Fortis Hospital in Noida (near Delhi) Source: Indo Asian News Service

Special snippets on the India-Yemeni business corridors

       India gifts 2400MT rice to Yemen

       India invites Yemeni Foreign Minister for IOR-ARC Meeting

       India invites Yemeni Minister for Electricity and Energy to visit India

       India Yemen to sign Cultural Exchange Programme shortly

                        TENDER NEWS

PEC Limited (PEC) – a Government of India undertaking - invites bid(s) from overseas
buyers for export of 60,000 mts (+/- 10%) Indian milling wheat from Food Corporation of
India (FCI) stocks at Krishnapatnam port (East Coast, India); Tender Closing & Validity
16th August, 2012 & 27th August. 2012; Tender No.: PEC/WHEAT/EXP/02/2012-13 dated
25.07.2012. (

India Show (Aug 3-6, 2012 at Bandaranaike Memorial International Conference Hall,
Bauddhaloka Mawatha, Colombo, Sri Lanka): To showcase Brand India and Indian
industries overseas and is organized by Confedertion of Indian Industry ( )

Water Summit 2012 (Aug 10, Hotel Park Sheraton, Chennai): the focus is on advanced
technologies in water and sanitation sector, Water Management solutions (both demand
side and supply side solutions), Role of Public Private Partnerships in Water Sector,
Investment opportunities in the Water Sector, Best Water Management Practices, Water
Policy and Way Forward (

International Coir Tech Expo 2012 (Aug 12-16, 2012) Marine Drive, Kochi, Kerala): The
expo showcases products and machineries developed as part of its research and
development initiatives. The event shall have B2B and investors’ meet coir fashion show,
interactive session and international and national seminars. (

Energex'12: (August 16-18, 2012, Vestry School, Trichy, Tamil Nadu): The objective of
the conference is to discuss the vital issues and to illustrate the possible ways of meeting
the challenges faced today in Energy Equipment & Heavy Fabrication industries and at the
same time to provide a platform for the exchange of ideas and for discussions about the
future fabrication technologies. (

5th Medical Technology Conference (24 August 2012 at ITC Maurya Sheraton, New
Delhi): focus is on emerging medical technologies – enabling and transforming healthcare
delivery ( )

Food Processing Industry Innovation and application (29 August 2012 at ASSOCHAM
House, New Delhi) : Induction of modern technology into the food processing industries
from both domestic and external sources; to encourage R&D in food processing for product
and process development and improved packaging; Research and Development in the
areas of food science and technology; research on improving the nutrition level of the
people especially children and Women ( )

8th India Innovation Summit 2012 – India Innovates for the world (August 30-21, 2012
at The Leela Palace, Bengaluru): vibrant business environment in terms of opportunities
& challenges and takes a closer look at the emergence of India innovating for the world.
The India Innovation Summit has brought together over 4000 experts, practitioners and
innovators from diverse backgrounds to discuss and deliberate on 'Innovation'. The Summit
could discuss topics like: ‘Innovation: An imperative, not a luxury’, ‘Innovating for Emerging
India’, ‘Innovation in India’, ‘Innovation in the 21st Century’, ‘Making a difference in an
Emerging Economy’, and ‘Innovation (

3rd International Conference on Transforming Healthcare with Information
Technology 2012: (August 31st –September 1st 2012, Hyderabad International
Convention Centre): The conference will be attended by more than 1000 delegates from
the healthcare information technology sector. The conference aims to bring all the
healthcare eco-system players on a global platform to participate, propagate and promote
the various technology-driven transformational approaches, solutions and their benefits to
the grassroots, administrators, providers, and research community. (www.transformhealth-

Bio-Energy Summit 2012: (September 5, 2012, Hotel ITC Maurya, New Delhi): With the
objective of sensitizing key stakeholders in the Government and the Bio–Energy Industry

about a holistic approach covering various end-forms of solids, liquids and gaseous from
processing Bio–Resources, the Confederation of Indian Industry (CII) is organising its
annual event Bio–Energy Summit 2012. The Summit will also deliberate key issues for the
Bio–Energy Industry. (

Construction Festival 2012: (September 12-15, 2012, New Delhi): is a lineup of 3
specialized events. The events are: Infrastructure Today Leadership Summit, 12-13
September, 3rd Equipment India Conference, 14-15 September and 10th Construction
World Annual Awards. (

Emerging Kerala 2012 Global Connect (September 12-14, 2012, Le Meridien
International Convention Centre.Kochi, Kerala)
A bouquet of opportunities for the world to take note of, Emerging Kerala 2012, is your
opportunity to explore, invest and establish your business interests in Kerala. With a pro-
active administration and investment-friendly policies, this is your gateway to make a mark
on the industrial playground of Kerala. ( )

Bengaluru Space Expo 2012:(September 12-15, 2012, Hyderabad International
Convention Centre): The third edition of Asia’s only focused exhibition on Space
Technologies, Products and Innovations will showcase the latest technological
advancements, related products and technical services while providing a platform for space
agencies, specialists, entrepreneurs and space industry heavyweights to display their
visions. (

CONNEX INDIA 2012: (September 12-15, 2012, India Expo Centre, New Delhi): is aB2B
international exhibition on Construction Equipments, Road Equipments, Material handling
equipments, components, spares and accessories. Exhibitors from USA, UK, Germany,
Spain, Brazil, Italy, Turkey, UAE, China, Japan, Australia, Russia etc. are expected to
attend. This exhibition is being held to connect strongly with the PSUs and other
government departments. (

15th India International Security Expo 2012 (September 13-16, 2012, Pragati Maidan,
New Delhi): Given the security environment prevailing in the world, fast changing
technology in this Sector and rapid growth in the urban and industrial infrastructure, the
demand for security gadgets and security services today is witnessing an exponential
growth. The Expo aims to bring together the vendors and buyers of Security, Safety and
Fire Equipment face to face for business interactions, technology transfer, collaborations
and providing need based technology. ( )

Oil Spill India 2012: (September 13-15, 2012, Holiday Inn Resort, Goa): is an
international Conference & exhibition organized in order to delineate the overall dimensions
of the oil spills problem, explore the present state of the art of prevention and control of oil
spills, and review the relevant research and development efforts of government and private
industry. (

Fine Food India: (September 17-19, 2012, Pragati Maidan, New Delhi): attracts key
industry buyers i.e. distributors, importers, chefs, food retails chains, Gourmet Stores, Fast

Food Chains etc. The show features a business forum, drinks and food theatre and one to
one business meetings. (

Retail and Convenience Expo 2012: (September 20-22, 2012, Pragati Maidan, New
Delhi): The Retail and Convenience Expo will be the 1st B2B forum focussing on end to
end solutions towards making of a full retail store. (

Indian Ocean Global forum 2012 “Enchancing Partnerships for Trade, Infrastructure
and Resource Development ( September 25-26, 2012 at Hotel Le Meridien, New Delhi
): Potential for Indian ocean countries on building new global economic partnerships for
trade, investment and sustainable development in key sectors of energy, mining/mineral,
education, skills / training and infrastructure. ( )

Petrotech 2012: (October 14 to 17, 2012. Pragati Maidan, New Delhi): is being
organized by Indian Oil Corporation Ltd. The theme of the conference is “Hydrocarbon and
Beyond: Changing Landscape” The conference is likely to attract around 4000 delegates.

India Strategy Forum 2012: (October 30- 31, 2012, Hotel The Grand, New Delhi): The
forum will have more than 75 Chairmen/ CEOs/Managing Directors of MNCs/big Indian
firms speaking in fourteen sessions spread over two days on various practical aspects of
business strategy in India. Last year’s forum was attended by 500 senior management
people. The forum is targeted at CEOs and senior management interested in doing
business in India. (

World Economic Forum on India: (November 6-8, 2012, NCR, Gurgaon): The forum will
have the working theme of “From Deliberation to Transformation” The meeting will be an
opportunity to outline a blueprint for a post-crisis India that can be a new model of
pragmatic, practical and effective governance, rebuilding trust both in the region and in
society to link leadership with livelihood. (

2nd Annual Canada-India Business Forum: (November 8-9,2012, Taj Mansingh Hotel,
New Delhi): The themes for the forum are: India’s Growth Story: Recent Challenges and
Prospects for the Future, Steps to Thicken the Relationship: An Action Plan for the Next 24
Months, From Resources to Resourcefulness: Feeding India’s Appetite for Energy and Raw
Materials. Trade Triangles: Working Together in Third Countries.

32nd India International Trade Fair: (November 14-27, 2012, Pragati Maidan, New
Delhi): is the one of the largest trade fairs in India. The theme for this year is “Skilling India.”
The product profile of IITF 2012 include Cosmetics, Healthcare products, Service sector,
Consultancy services, Consumer Electronics, Home & Kitchen Appliances, Fitness
equipment, Optical and Eye care products, Textiles, Jute and Coir, Leather Goods,
Footwear & Travel Goods, Banks etc. (

9th International Textile Machine Exhibition 2012 (India ITME 2012 December 2-7,
2012 at Bombay Convention and Exhibition Center, Mumbai): This catalyst textile
engineering industry meets the needs of textile customers to build new business
opportunities besides networking opportunities. ( )

                  Company                                    Product Enquiry
M/s Aaryan International,                      Exporters of organic chemicals         and
Bhandup (East),                                inorganic chemicals.
Mumbai, 400042 (India).
S. P. Enterprises,                             Exporters of Plastic House hold furniture,
Merchant Exporters, 134-140,                   Glassware, Stainless Steels and Aluminum
Goverdhan Niketan,                             Utensils, LP Gas Stove, Cotton / Rayon /
Cavel Cross Lane no: 7, 1st floor,             Polyester / Acrylic Grey Fabrics. Ready
office no: 4, Mumbai: 400 002.                 Made Garments Shirts & Trousers, Note
E-MAIL:                 Books & Stationary products.
Tel: 91-22-22016227, Fax: 91-22-22081451,
Mobile:00 91- 98676 52181
Prachi Exports,                                Importer & Exporter of aluminium foil for
25 Gopinath nagar,                             pharma blister packing and house hold
Jagatpurgam Road,                              packing and also dealing
Chandlodia,                                    with dyes & chemicals, guar gum powder,
Ahmedabad- 382481,                             guar gum split, raw 0091-9712966001                        cottons , all type of seeds, agro products,
                                               food products,
                                               vegetables, Indian spices, potato, onion,
                                               cotton fabrics, made‐ ups
NEPC India Ltd,                                Manufacturing and Exporting Wind Turbine
Chennai - 600 098, India.                      Technology
Phone: 0091 44 2625 7999
Fax: 0091 44 2624 6666
Classic Marble Company                         Exporters of Composite Marble, Composite
Phone: 0091-22- 41404140                       Quartz and Natural Marble
 Fax: 0091-22- 41404141
National          Organic         Fertilizer   Manufacturer   and   Exporter   of Organic
1008/1010,            10th           Floor,    Fertilizer
Akik Complex, Opp. Rajpath Club,

S.G.Road, Bodakdev, Ahmedabad-380 015,
Gujarat,                              India.
Ph:           0091         79     26871072
Fax:          0091         79     26871073
Email :
Al-Safi Frozen Foods,                                Manufacturers & Exporters of Buffalo Halal
Uttarpradesh,Rampur,                                 Meat and Lamb Meat Carcass
India. 0091-9949502044
Website :
Vipul Dye Chem lTD                                   Manufacture and          Exporter of Pigments
102, Andheri Indl.Estate, off Veera Deasi            powder, Reactive         dyes, Napthols, Fast
Road, Andheri West,                                  Bases/Fast salts,        Dyestuffs for leather,
 Mumbai-400053, India                                paper, Inkjet and         food colours, Herbal                               extracts
Email id:-


                                   TEA BOARD OF IINDIIA
                                   TEA BOARD OF ND A

        Tea is a work of art and needs a master hand to bring out its noblest qualities.
        Darjeeling Tea, world famous, (a copyright protected trade mark) is to be enjoyed
        not just for its taste but because it is truly good for you. Rich in anti-oxidants, this
        amazing tea strengthens your immune system. It courses through your veins and
        helps you unwind. Relaxing, mystical, magical. Go to Tea Board to find more on
        Darjeeling, Assam and Nilgiri teas. Tea Board is a Government of India
        organization established to promote Tea in India and abroad

        Contact in India: Tea Board, 14, BTM Sarani, Kolkata - 700 001.
        Tel.: 033-22351411/Fax:033-22215715
        E-mail : Website:

        Contact in Dubai: Mr. Manish Sharma, Director of Tea Promotion
        Tea Board of India, P.O. Box No. 2415, Flat No. 5, Al Abbas Buildings,
        Bank Street, Bur Dubai, Dubai UAE.
        Tel.: 009714 3522612/3522613 Fax : 00 9714 3522615
        Mobile : 0097154575283, 513275 E-mail:

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