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IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
IACC Newsletter November 2012 Issue no. 7
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IACC Newsletter November 2012 Issue no. 7

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Seventh issue carries features like Happenings at IACC; US Investments in India; India Investments in US; Indo-US Corporate News; International Buyer Program- 2013 Trade show etc. …

Seventh issue carries features like Happenings at IACC; US Investments in India; India Investments in US; Indo-US Corporate News; International Buyer Program- 2013 Trade show etc.

Download this Issue http://goo.gl/m6Ggy

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  • 1. Index ContentsIndexPresident’s Message ............................................................................................................................... 5From the Secretary General’s Desk ......................................................................................................... 7Happenings at IACC ................................................................................................................................ 8US investments in India ........................................................................................................................ 23U.S. based real estate development & Investment Company Portman plans to raise $300 million in India realty fund23New York based WFA Global invests in Hyderabad-based personal financial services start-up .................................... 23Blackstone offers to buy Vijay Mallyas office, retail blocks in UB City for Rs 550 crore ................................................ 24Pittsburgh based Mylan Labs to buy SMS Indian manufacturing unit for $33 million ................................................... 25GE to invest Rs 331 lakh in research & engineering ....................................................................................................... 25Blackstone Capital Partners to buy 12.5% stake in International Tractors Limited for Rs 520 crore ............................. 26Agilent Technologies ties up with Vizag Company ......................................................................................................... 27Bharti Walmart opens 2nd store in Bhopal ...................................................................................................................... 27Autodesk acquires Pramatis Qontext ............................................................................................................................ 28Virginia Tech research center to open in 2013 in India .................................................................................................. 28U.S based PE firm Blackstone inks India’s biggest commercial real estate acquisition deal .......................................... 29Amway to set up R&D Centre for health, beauty segments ........................................................................................... 30Harley Davidson eyes smaller Indian towns to expand footprint ................................................................................... 30Private equity firm GE Capital pays Rs 125 crore for 7.7% stake in Biocon Syngene ..................................................... 31Harman to set up manufacturing facility in Pune ........................................................................................................... 32GM to expand capacity at Halol ...................................................................................................................................... 32Mayfield invests in Indian incubator AngelPrime ........................................................................................................... 32India’s Investments in U.S ..................................................................................................................... 34Hinduja firm Gulf Oil Corp buys US-based Houghton International for $1 billion.......................................................... 34Sun Pharma inks pact to buy DUSA for $230 million ...................................................................................................... 34MphasiS buys US mortgage management firm for $175 million ................................................................................................... 35Persistent Systems Acquires Innovative Cloud Platform Business from Washington based Doyenz, Inc. ..................... 35Sahara buys 2 iconic NY hotels - New York Plaza, Dream New York .............................................................................. 36MindTree opens development centre in Florida ............................................................................................................ 37Infosys unit to buy unit of Marsh & McLennan .............................................................................................................. 37IBS Software Services Acquired US Hotel Booking Solution ........................................................................................... 38Jindal Poly Films to acquire ExxonMobil unit.................................................................................................................. 38
  • 2. Indo-US Corporate News ...................................................................................................................... 39Subway plans 1,000 stores in 5 years ............................................................................................................................. 39Bharti Walmart opens outlet in Rajahmundry................................................................................................................ 39Indias Ranbaxy launches acne drug in US ...................................................................................................................... 40Punjab asks Monsanto to set up a R&D center for maize crop in state ......................................................................... 40MWV Will Acquire Ruby Macons Ltd. to Accelerate India Growth Strategy .................................................................. 40Dominos India aims to be largest franchise outside US in 2 years ................................................................................ 41Voltech, NanoPV venture to build solar module plant near Chennai............................................................................. 42Intel looks to modernize PDS retailing in Gujarat ........................................................................................................... 43Citi Expands Express Wire Asia Program with India Desk ............................................................................................... 43DuPont expanding Hyderabad knowledge centre .......................................................................................................... 44Special Report ...................................................................................................................................... 45India’s coffee market competition is ferocious: Howard Schultz, Starbucks.................................................................. 45OVL (ONGC VIDESHs) wishes to have an integrated presence in the US....................................................................... 46In the News: ......................................................................................................................................... 49Indian companies created 50,000 jobs in US, says Deputy Secretary of State William Burns ....................................... 49US immigration reforms: Indians want Obama to cut long wait for green cards ........................................................... 50US Working With India for Increased Defense Cooperation .......................................................................................... 51India, US discuss ways to lower barriers to trade, investment....................................................................................... 52State’s Burns Cites Strategic, Economic, People Ties with India .................................................................................... 53Gujarat IT companies diversify operations in US ............................................................................................................ 54US-based investor plans start-up school in Kochi ........................................................................................................... 54US explores treaty to nail US tax defaulters in India ...................................................................................................... 55Indian-American professor appointed as the first director of digital learning at MIT ................................................... 57India big part of his plans, Barack Obama tells Manmohan Singh ................................................................................. 57US department of agriculture pegs Indias coffee exports at 5.51 million bags ............................................................. 58Norms relating Indian defense technologies need reform: Powell ................................................................................ 58US strongly values strategic partnership with India, says State Department spokesman ............................................. 59US fiscal cliff wont impact Indian IT sector: Nasscom.................................................................................................... 59Visa interview waived for four more categories, says US envoy .................................................................................... 60Indias Bold Solution to the U.S. College Crisis: Federal Universities ............................................................................. 61India an important strategic partner of US: Ami Bera .................................................................................................... 62FDI in retail will benefit consumers in India: Nancy Powell ............................................................................................ 63After Atlanta, India now working to open Consulate in Seattle ..................................................................................... 63Stanford B-school to start course in India ...................................................................................................................... 64
  • 3. The Shale Gas Revolution in America: An Opportunity for India .................................................................................... 66Calendar of IACC Events for 2012 .......................................................................................................... 68Indo-US Trade Statistics ........................................................................................................................ 692012: U.S. Trade in Merchandise goods with India ........................................................................................................ 692011: U.S. Trade in Merchandise goods with India ........................................................................................................ 69India – US Trade Analysis ...................................................................................................................... 70International Trade shows .................................................................................................................... 71US Department of Commerce Certified Trade shows in U.S.A ....................................................................................... 71International Buyer Program, 2013 Trade shows ................................................................................... 74US Department of Commerce Certified Trade shows in India ........................................................................................ 76Major Trade shows in India............................................................................................................................................. 78Major Trade shows in U.S.A ............................................................................................................................................ 80How to reach us: .................................................................................................................................. 84Get Social with the Only Bilateral Chamber of Commerce for Indo-US Business, IACC ................................................. 84
  • 4. President’s MessageDear Members,The convincing re-election of President Obama signifies the continuity of policies and programs. Equally lauded was hisassurance given to Indian Prime Minister Dr. Manmohan Singh that India -focus of the US Administration will be guidedby pragmatism and the important roles both countries play in the global arena. One can expect that the economicpartnership between the two countries will be heightened in the light of many positive developments that are takingplace in both countries.Let me touch on some unconventional segments that the US-India engagement will be beneficial. Urban transport,railways, particularly movement of freight traffic and housing and townships are major sectors that can drawconsiderable US investment into India. Urban transport in India needs to be toned up to ease the pressure on theexisting networks. Overcrowded buses choked up roads, over-aged vehicles etc. are some of the banes of Indiantransport landscape and such problems are more crucial in towns and cities. Foreign investment is allowed in the sectorbut not many have come forward to invest in this sector. Lack of policy clarity, bureaucratic delays, inadequateprotection to the assets and rolling stocks etc. are perceived to be reasons that are holding back not only FDI but alsoinvestment from the Indian private sector.Metro or mass rapid transport systems are the order of the day to de-congest the cities and to ensure quality transportsystems. We have world- class metro systems in Delhi, Kolkata and the projects in cities like Mumbai, Chennai andBangalore are at various stages of implementation. There is considerable scope for private- public partnership inbuilding these networks. The US presence in the implementation and in providing rolling stocks to metro networks isvirtually nil. Japan is providing funds and the rolling stocks are procured from Korea and Germany. This is an area wherethere can be focused attention of the US corporations, since such projects are not only implemented in time, but alsoeven before time.Dedicated freight corridors are going to redefine the goods movements in India. Eastern and western corridors will becompleted by 2016 and the feasibility study for the next four corridors will be completed by the end 2013. Severalbillions of dollars have already been invested in the corridors where the works have already started. World Bank andJapanese development agency, JAICO are funding the projects which provide excellent opportunities for privateinvestment. For instance, in the eastern and western corridors, around 150 kms of land will be developed along the sidelines of the track, which will ensure world class logistics to manufacturing units that will come up there. US firms cantake advantage of these emerging opportunities.Finally, in the realty sector, the US investment is mostly in terms of PE investment. But Indian laws allow investment inthe development of townships and satellite towns subject to certain area restrictions. Since the cities are becoming
  • 5. saturated, people and offices are relocated to areas that are less populated but closer to the cities and townships. Therewill be huge demand for houses and office space in such townships.Economists predict that key players, which can help bottoming out the slowdown and pave the way for recovery andconsolidation are the US, India and China, because of their continental market, strong industrial base and command anddependence on technology. That also presupposes newer paradigms of co-operation and engagement among thesecountries. Therefore, as President Obama enters a new term in office, we hope that India and U.S can take itsrelationship to greater heights for mutual benefit.Shourya MandalNational President, IACC
  • 6. From the Secretary General’s DeskDear Members,According to the recent statistics released by the US Department of Commerce, the total Indo-US Trade in Merchandisegoods for the first nine months of Calendar year 2012 (January-September) is US$ 47.53 billion with balance of tradesurplus of US$ 15 billion in favor of India. This is an increase of 9.54 % over the same period last year. US Exports toIndia have gone up by 2.54 % from US$ 15.86 billion to US$ 16.27 billion and US Imports from India have gone up by13.59 % from US$ 27.52 billion to US$ 31.27 billion during the same period.IACC officials met with Mr. Sumit Bose, Revenue Secretary, Ministry of Finance, GOI along with his team on November30, 2012 to present IACC’s Pre-Budget Memorandum 2013 with recommendations on Direct and Indirect Taxes. TheIACC team was led by Mr. S.K. Sarkar, Chairman, Economic & Finance Committee of IACC for the year 2012-13 othermembers who joined the IACC delegation included Mr. Naveen Aggarwal and Mr. Naveen Gupta, Partners KPMG, Mr.Atul Vyas, Regional Director, NIC and Myself.The GOI officials from the ministry were very receptive in the interactive meeting which lasted for one and half hour.We are very pleased that many of the recommendations submitted by IACC are being considered and hopeful that it willbe accepted and implemented. We thank all the members who have contributed by providing their inputs and senttheir recommendations and also KPMG for preparing a consolidated document and joining the meeting.We are pleased to announce the release of IACC membership Directory 2012 which is available with our regional andbranch offices. This issue covers regular features like Indo-US Corporate News, Happenings at IACC, International BuyerProgram- 2013 Trade shows, Indo-US Trade Statistics, IACC’s upcoming events, International trade fairs in USA & Indiaamongst others. This newsletter is an attempt to further the cause of increasing trade between Indo-US BusinessHouses.If you have any success stories of your company with US partners on joint ventures, mergers & acquisition etc., pleasedo let us know. We will be happy to carry a case study on your company’s success in the newsletter.Hope you will find this issue informative and useful.With regards,R.K. ChopraSecretary General, IACC
  • 7. Happenings at IACCHead OfficeBreakfast Meeting with Washington State Governor Ms. Christine Gregorie on October 8, 2012 at Taj Lands’ End, MumbaiThe Indo-American Chamber of Commerce (IACC) organized a breakfast meeting with Washington State GovernorChristine Gregoire and the accompanying business delegation on Monday, October 8, 2012 at Garden View Room, TajLand’s End, Mumbai. Self-introduction was done by IACC members followed by thedelegates. Mr. R.K. Chopra, Secretary General (IACC) briefed about IACC and the business opportunities in Educationand Biotechnology sectors, which were of interest to the visiting delegation. Dr. L S. Kanodia, Regional President – WICgave his welcome remarks and spoke about the political and economic climate in India. He also spoke about theopportunities for enhancing INDO-US Trade.Governor Gregorie said that the two-way commerce is low between the two sides. "We find that India is the 24thlargest trading partner with our state. We think it is way too low, it should be at least in the top five. My visit here is tomake sure that we can make that happen." She said that businessmen of both the sides can increase cooperation inareas like IT, pharmaceuticals, aviation, life sciences, biotechnology and agriculture. "We have one of the vibrant IT andsoftware sector in the world. This is an opportunity for India," she added. She also said that Seattle-based coffee chainStarbucks will open its first store in India by end of this month. "Now it (Starbucks) is located everywhere around theglobe and it will open its first Starbucks here in Mumbai at the end of the month."This was followed by Q&A sessions on various matters relating to various industry sectors, taxation, visas, etc. Mr.Anand Trivedi, Regional Director WIC, proposed the vote of thanks and Dr. Kanodia presented a memento to GovernorGregoire on behalf of the Chamber. Mr. Anand Trivedi, Regional Director, IACC-WIC, Washington State Governor, Christine Gregoire and Dr. L. S. Kanodia, Regional President , IACC-WIC
  • 8. (L- R) Mr. Robert Holland, Commissioner, Port of Seattle; Mr. Anand Trivedi; Mr. R. K. Chopra, Secretary General – IACC; Ms. Christine Gregoire & Dr. L. S. KanodiaMr. R. K. Chopra(Center) & Dr. L. S. Kanodia (Right) handing over the Governor Christine Gregoire addressing the audience memento to Ms. Christine Gregoire
  • 9. West India CouncilIACC Supports "Media & Entertainment Law Forum 2012" organized by the Legal Era on October 06, 2012 at JW Marriott Hotel, MumbaiMr. Anand Desai (Extreme Left), Immediate Past National President, IACC & Managing Partner, DSK Legal moderating a session on copyright issues and their widespread impact, also present on the forum among other panelists is Mr. Lalit Bhasin (Second from Right), Regional President, IACC-NIC & President, Inter Pacific Bar Association(IPBA) & Society of Indian Law Firms(SILF) The Guest of Honor Mr. Lalit Bhasin, Regional President, IACC-NIC & President, Inter Pacific Bar Association (IPBA) and Society of Indian Law Firms (SILF) presenting a special address at the forum, also present on stage are special guests Mr. Anil Kapoor (Third from Right), Film Actor and Mr. Mukesh Bhatt (Extreme Right), Indian Film Producer
  • 10. IACC hosted its 7th “Breakfast Meeting” on October 11, 2012 at Hotel Marine PlazaAfter having completed 6 Breakfast Meetings successfully, there were several prolific speakers who provided us withinteresting insights on varied topics across various industries. The 7th meeting bore witness to an enlightening discussionabout the dawn of the software industry in India.The meeting was addressed by a pioneer of this field who was both directly and indirectly responsible for theestablishment and development of the IT sector in India today - The Founding CEO of TCS and the Chairman ofDatamatics Global Services Ltd.; he was none other than Dr. L.S. Kanodia himself.Dr. L.S. Kanodia was introduced by Mr. Naushad Panjwani (IACC Committee Member-WIC). He shared precise figureswith respect to the contribution of the IT sector to the Indian economy, employment statistics and even exportsrevenues. He shared several personal experiences and discussed the evolution of the IT industry from 1965 till date.It was fascinating to hear him elaborate on how TCS grew over the years along with details about the pivotal role that hehimself played in the progress of the IT industry as a whole. Dr. Kanodia also shed some light on the barriers that the ITsector faced along with solutions which included the liberalization of our economy in 1991, the formation of Nasscom,rules, regulations and procedures of the Indian government.After a detailed, comprehensive and informative discussion Dr. Kanodia stressed on the fact that India’s IT sector hasindeed grown substantially, but there is still a long journey ahead. The meeting was concluded after an interactivediscussion with the guests who had several questions for the IT stalwart. Dr. L. S. Kanodia presenting an overview to the attendees on India’s software journey and the road going forward.
  • 11. Dr. Kanodia receiving a memento from Mr. Naushad Panjwani, Committee Member, IACC-WIC & Executive Director, Knight Frank India on behalf of IACC.IACC hosted the 3rd Commemorative Dinner in celebration of 4 years of civil nuclear co-operation between the United States of America & India at the US Consulate (BKC), Mumbai on October 11, 2012. (L-R) Mr. Anand Trivedi, Regional Director, IACC-WIC; Dr. L.S. Kanodia, Former Regional President, IACC- WIC; Dr. S.K. Bannerjee, Former Chairman - Atomic Energy Commission of India & the Secretary of Department of Atomic Energy - DAE and Mr. Donald Hoffman, Vice President, American Nuclear Society.
  • 12. IACC Supports, 2nd Indo-US Nuclear Energy Safety Summit 2012 on October 11-12, 2012 at IIT Powai, MumbaiThe American Nuclear Society and the India Section of the American Nuclear Society along with their partners hadorganized the 2nd Indo-U.S. Nuclear Energy Safety Summit 2012,The summit included 5 TRACKS for student, companies, public affairs, radiation training, and public awareness.The Summit also included the 3rd U.S. Nuclear Infrastructure Pavilion as well as an exhibition for Indian andinternational companies. The Summit had been timed to coincide with the 4th anniversary of the transformational Indo-U.S. Civil Nuclear Agreement, which was 3rd commemorated at a dinner hosted by IACC at the US Consulate. Dr. Alok Mishra, Deputy Director of Westinghouse addresses the audience
  • 13. Pune Branch Innovation@Breakfast” Session – 11 on “Visual Thinking as an Innovation Tool”Innovation@Breakfast conducted the 11th Session of the Series on Tuesday, October 23, 2012 at Hotel DeccanRendezvous, Pune. The topic for the Session was “Visual Thinking as an Innovation Tool”, & presented by Mr. DhruvAgarwal & Mr. Kush Agarwal.The session was an interactive Session & revolved around Innovation which requires creativity, imagination and designthinking, and visual thinking techniques as an essential tool for that kind of work.Speaker – Mr. Kush Agarwal is an Airline Pilot with Jet Airways. He covered the following topics at the Session.• Why Innovation is important in todays Business Environment• What is Innovation - A breakdown of what it really means today?• What is Whole Brain Thinking - Why is it essential for Innovation• The Power of Visual Thinking explained• Visual Thinking Methods and Tools for Innovation
  • 14. Speaker: Mr. Dhruv Agarwal, Director at Autopress India Pvt. Ltd & is a ThinkBuzan Licensed Instructor for Mind Map®s.He covered the following topic at the Session. • "Most Important Graph in the World" - A graph on how we learn and behave and its impact on Productivity, Leadership and Innovation
  • 15. North India Council IACC-Citi Bank Knowledge Series on October 19, 2012 in New DelhiThe Indo-American Chamber of Commerce organized an IACC- Citi Bank Knowledge Series on October 19, 2012 in, NewDelhi. Mr. Kumud Gandhi, Assistant Vice President, Commercial Banking, Citi Bank made a presentation “CommercialBank – Banking Solutions for SMEs Update on Regulatory Framework and FEMA Guidelines”Topics covered  Citi India: Snapshot  Foot print: Present in India since 1902  Introducing innovative / New Products & Services  Citi India - Industry Leadership  Export Import – FEMA Update & Foreign Exchange Risk Management  Update on Regulatory Framework and FEMA - 2012  Foreign Exchange Markets – Forecast  Hedging – Factors Considered  Citi Commercial Bank  Full Services Banking  Product Suite – Comprehensive Banking Solutions  Citi Commercial Bank Products: Key Features  Transaction Banking: Cash Management  Trade Services and Trade Finance  Foreign Exchange Services  Citi FX Pulse  Commercial Lending  Citi India : CredentialsMr. Kumud Gandhi, Assistant Vice President, Commercial Banking, Citi Bank making a presentation on “Commercial Bank – Banking Solutions for SMEs Update on Regulatory Framework and FEMA Guidelines”.
  • 16. South India CouncilTamil Nadu Branch IACC-TN Branch Organized an Interactive session on “Compete and grow, globally” held on October 08, 2012, at Hyatt Regency, ChennaiIACC – TN Branch in partnership with Microsoft & Nokia organized an Interactive session on Compete and grows,globally. Ms. Jennifer A McIntyre, US Consul General, Chennai inaugurated and delivered the Chief Guest address. In heraddress Ms. Jennifer said that 39 states in the US have signed a strong resolution to combat unfair trade practices inmanufacturing by preventing usage of illegal or stolen Information Technology by using their existing state unfaircompetition laws. She further said that US wanted to help India have a strong system of Intellectual Property Protection,especially in the IT sector.Ms. Jennifer quoted by saying a report from the Organization of Economic Cooperation and Development (OECD)estimated that trade in counterfeit and pirated goods across national borders may have totaled around $200 bn. Shesaid that the enforcement of Intellectual Property Rights (IPR) strengthened the investment climate to attract and retaininnovative companies and creative artists that were the engines of economic growth.The technical session was presented by Mr. Sunil Singh, Senior Consul-Sai Krishna & Associates on Unfair CompetitionsAct and doing business the right way, which was followed by a presentation on Competing and growing globally usingthe right technology by Mr. Anish Roy, Regional Head-NOKIA Business Enterprises & Mr. Ashish Uchil, Businessdevelopment Manager-Microsoft Corporation. The programme provided a platform for participants to learn about IPR,patent rights, mobile application Integration and the need for anti-piracy law from the presentation. Overall the sessionwas informative and valuable as it gave an insight on using the right technology at the right time for best practices. Ms. Jennifer A McIntyre, US Consul General, Chennai addressing the gathering. Also seen (L-R) Mr. T N Venkatanarayanan, Chairman & Mr. C Suresh Reddy Vice-Chairman, IACC Tamil Nadu
  • 17. Presentation on Unfair Competitions Act and doing business the right way in U.S. by Mr. Sunil Singh Senior Consul, Saikrishna & Associates.Breakfast meeting in honor of the visiting delegation of the U.S Architecture Services Trade Mission to India on October 15, 2012From (L-R)- Mr. Abdul Azeez Vice Chairman, IACC-TN; Ms. Jude Reinka, Senior Commercial Officer,U.S Embassy -New Delhi; Mr. T N Venkatanarayanan Chairman, IACC-TN; PadmaSri. C. N. Raghavendran Partner, C.R.Narayana Rao Architects
  • 18. Talk on Overview of Architecture Scenario in India by Padma Shri C N Raghavendran,Partner, C.R.Narayana Rao Architects & Engineers. Also seen (L-R) Ms. Jude Reinka, Senior Commercial Officer, U.S Embassy -New Delhi, Mr. T. N Venkatanarayanan Chairman, IACC (TN) and Mr. R Murari, Senior Attorney, Chennai Breakfast Meeting with Mr. K. Srinivasan, MD, Prime International India Pvt. Ltd. on October 16, 2012Mr.K .Srinivasan,Managing Director-Prime International is addressing the gathering at the Breakfast meeting- Meet Success First Hand. Also seen are Mr. T. N Venkatanarayanan, Chairman and Mr. Abdul Azeez Vice Chairman, IACC – Tamil Nadu
  • 19. Memento presented to Mr. Srinivasan.
  • 20. Karnataka Branch IACC Organized a Session on Talent Management - Myths & Insights on October 19, 2012 at Club Lounge Fortune, Bangalore.Indo American Chamber of Commerce organized a successful session on Talent Management at the Club LoungeFortune, Select J.P. Cosmos, Off Cunningham Road, Bangalore on October 19, 2012.The event was a great success and it was extremely well received by the participants who expressed great enthusiasm inregards to the myths of talent management. There was a good turnout for the session, like Avasarala Technologies Ltd.,Crown Relocations, Datascribe InfoTech Pvt. Ltd., Moog India Technology Centre Pvt. Ltd. and Indolox Services Pvt. Ltd.,etc. to name a few.Mr. V Srinivasan, Director, SJS Enterprises Pvt. Ltd. and Chairman of IACC introduced the speaker. The objective of theseminar was twofold. The first was to focus on the myths of talent management and the second objective was toprovide some insights of talent management. In Mr. Ramesh Dasary’s opening address, he explained about talentmanagement that it has become top-of-mind for most corporate executives and organizational leaders today. Talentmanagement—or components thereof—has been one of the most popular cover stories for trade and businesspublications, from Harvard Business Review to the daily business newspapers, in recent times.The participants gained knowledge from Mr. Dasary’s presentations on various kinds of myths related to talentmanagement, such as; talent management is non-strategic, people make organization smart, size matters, people areborn with all the natural talent and the abilities, the south pole theory (hire those who performed at the top of theiracademic classes), managers do what they are expected to do, your businesss future leaders will come from yourexisting pool of high-performing managers, high performers are always high potential, people grow most in theirweakest area, you decide the CTC and performance motivator is money.At the event, everyone seemed to really enjoy themselves with the informative session of Mr. Dasary which alsoincluded an animated video clip from Dan Pinks talk at the RSA, which illustrated the hidden truths behind what reallymotivates a person at home and in the workplace.Ramesh Dasary is the Consultant and Founder of Improwise, an endeavor he started, with a view to help the MSMEscale up, through transformational Talent Management initiatives in the organizations, having held leadership roles inlarge MNCs for over 20 years. Mr. Ramesh Dasary, Consultant and Founder, Improwise delivering the presentation.
  • 21. Mr. Ramesh Dasary being facilitated by Mr. V Srinivasan, Chairman of IACC Karnataka Branch & Director, SJS Enterprises Pvt. Ltd.
  • 22. US investments in India U.S. based real estate development & Investment Company Portman plans to raise $300 million in India realty fundUS-based real estate development and investment company Portman Holdings is looking to raise up to $300 million(over 1,600 crore) worth of third-party capital to invest in Indian property markets, said a top company official.The company will raise these fundsin overseas markets beginning first half of 2013 and deploy the entire corpus in thenext 30 months once the fund raising is concluded. Apart from these third-party funds, Portman will also continue toinvest its own capital into Indian real estate."We are bullish on India apart from US and China. Even at 6% growth, India will be the second-fastest growing economyamongst the larger ones. Our existing two investments here that we made since 2009 have been performing well withpositive returns," said Ambrish Baisiwala, CEO, Portman.So far, Portman has invested $160 million (860 crore) in Pune-based Kolte-Patil Developers two projects. Both areresidential projects with total development of 1.8 million sq. ft. in Pune. Click here for index New York based WFA Global invests in Hyderabad-based personal financial services start-upArthaYantra, a Hyderabad-based integrated personal financial services start-up, on Tuesday said it has raised seedcapital from US-based investment firm WFA Global Investments. However it did not disclose either the quantum offunds raised or the stake picked up by the US firm.The company, which has been founded by a group of ISB Hyderabad alumni, uses its unique proprietary framework,trademarked as Personal Financial Lifecycle Management (PFLM), and employs patented processes that help individualsachieve their financial goals. The company plans to further develop its proprietary technology and also expand its teamthat currently stands at over two dozen people. The company also plans to expand operations across six major cities ofHyderabad, Bangalore, Delhi, Chennai, Mumbai and Pune.According to the company, it was focused on launching its new solutions and was currently engaged in increasing itsfinancial research capabilities by building systems and processes based on existing patents that it holds and is nowpiloting its innovative personal finance solution in beta with select group of customers. ArthaYantras clientele includesindividuals from India, US, Europe and Middle East.Commenting on the development, ArthaYantra founder and CEO Nitin B Vyakaranam said that the current round ofinvestment was a testament to the global appeal that its solutions carry. "In India, we plan to take personal financialservices to a greater cross-section of the population by coming out with unique and thought provoking services. Webelieve that a vast majority of Indias middle income population does not have access to formal personal financialservices, and our solutions would fill this gap."New York-based WFA Global Investments managing director Dr. Ravi Bhagavatula said: "With the backbone of patentedand scalable personal finance solutions along with its disruptive business model, ArthaYantra has the potential toachieve global scale. The Indian market has a promising middle of pyramid opportunity and ArthaYantra could prove tobe a game changer in the personal finance industry." Click here for index
  • 23. Blackstone offers to buy Vijay Mallyas office, retail blocks in UB City for Rs 550 crore Blackstones offer for the 3.7 lakh square feet of UB Citys commercial space and 75,000 square feet of luxury retail space comes at around Rs 550 crorePrivate equity giant Blackstone has made an offer to Vijay Mallyas investment holding company UB Holdings to buy outthe prime office and retail real estate blocks in its flagship UB City, the biggest commercial property project in the heartof Bangalore, said two people familiar with the developments.Blackstones offer for the 3.7 lakh square feet of commercial space - home to many MNC offices such as Apple, Citibank,Ernst & Young, 3M, Vodafone, Uninor, Jones Lang LaSalle - and 75,000 square feet of luxury retail space comes at aroundRs 550 crore, less than what was initially estimated, said one of the sources mentioned above. However, the offer doesnot include the iconic UB Tower - the groups headquarters that are also part of the UB City Complex.The talks are still going on as some local builders and real estate funds have also shown interest. The matter is expectedto be taken up shortly by senior UB Group management and even the UB Group lenders.With the Diageo-United Spirits deal in the bottle, the focus is now once again on the value-unlocking opportunity thatlies with Mallyas real estate portfolio. Blackstone did not wish to comment on market speculation and a UB Groupspokesperson did not respond to an email questionnaire on the issue.However, senior UB Group officials said even though the group has received offers from funds like Blackstone, the finaldecision will be taken by Mallya himself."I do not think we have reached a firm decision yet. A couple of offers, some unsolicited, have come, but I do not thinkwe are actively discussing with anybody," said a senior group official who did not wish to be identified.
  • 24. Built on a 13-acre plot, UB City is a joint venture between Mallyas investment holding company UB Holdings and Prestige Developers. It has a total of 1.6 million sq. ft. mixed-use development comprising office spaces, luxury retail and hospitality. MUCH SOUGHT AFTER BY LUXURY BRANDS UB City has four towers - UB Tower (with 19 floors), Comet (11 floors), Canberra (17 floors) and Concorde (19 floors). Within the complex, the 1.25 lakh sq. ft. luxury retail space - The Collection -is the citys premier destination for high-end international and Indian luxury brands like Louis Vuitton, Mont Blanc, Gucci, Rolex and Kimaya, across categories such as apparel, jewelry, accessories and electronics. It will also house food and beverage outlets and the Kingfisher Sports Bar. Mallya owns the UB Tower while the 200,000 sq ft luxury hotel, Oakwood Service Residences, is owned by Prestige. The rest of the property is split between the two partners. Real estate analysts say Mallyas share of UB City is around 905,000 sq. ft., with UB Tower alone being 300,000 sq. ft. Click here for index Pittsburgh based Mylan Labs to buy SMS Indian manufacturing unit for $33 millionMylan Laboratories has agreed to purchase SMS Pharmaceuticals manufacturing unit-VI in Visakhapatnam, AndhraPradesh, India, for a total sum of INR1.73bn ($33 million). The manufacturing unit was designed for the production ofcancer medications and the active ingredients for cancer drugs.SMS will use the proceeds to clear some of its existing debts, cut overhead costs, reported. In addition, SMS will use thefinance to strengthen its existing production facilities and working capital.SMS Pharma, which is involved in active pharmaceutical intermediaries manufacturing, said the legal process would takea couple of months. Click here for index GE to invest Rs 331 lakh in research & engineeringGE, adding 400 people every year for 10 years at the John F Welch Technology Center (JFWTC), will be expanding thecapabilities of the center at an investment of Rs 331 lakh ($60 million). The investment, which is focused on expandingthe technology center here, includes setting up experimental labs and its infrastructure includes leading-edge researchand engineering in areas of critical importance, the company said.
  • 25. The center would conduct research and engineering in cancer treatment and radiochemistry and other technologyapplications in healthcare, locomotive engines, heavy earth moving equipment and equipment for the energy sector,said Gopichand Katragadda , MD, GE India Technology Center (John F Welch Technology Centre).The center, established in September, 2000 here, is GEs first and largest integrated multi-disciplinary R&D andengineering center outside the US. Investing heavily in advanced IT-enabled laboratories, the center is among theleading engineering innovation across GEs diverse businesses.The GEs John F Welch Technology Centre is set to touch 5,000 employees by the end of the year, according toKatragadda. Meanwhile, over the last decade, the Centre alone has contributed to over 1,850 patents being filed by GE,the parent company.GE has been trying to get to 15-20 per cent savings in many of the devices it has been manufacturing. According toindustry sources, the cost savings on many of the products through defeaturing has been to the tune of 50 per cent ormore in many products. The company has particularly been aggressive in the healthcare sector. It has been able toremove two-thirds on the costs in the case of many devices.Meanwhile, the company is investing about $200 million in a manufacturing facility in Pune. Click here for index Blackstone Capital Partners to buy 12.5% stake in International Tractors Limited for Rs 520 croreThe Blackstone Group on Monday announced that its affiliate, Blackstone Capital Partners (Singapore) VI, has signed anagreement to acquire 12.5% of International Tractors Limited (ITL) in a structured transaction for up to Rs 520 crore, or$100 million.The flagship company of the Sonalika Group, ITL is a leading manufacturer of tractors under the brand name Sonalika. Itmanufactures tractors from a power range of below 20 HP to over 90 HP. "There is significant amount of potential forSonalika to grow in market share. In the last one year too, the company had increased its share," Akhil Gupta, SeniorManaging Director and Chairman of Blackstone India told ET over phone.This deal is in line with Blackstones past investments in the Indian agri sector. The private equity firm has invested inNuziveedu Seeds and FINO, a micro-finance firm - companies that are adding value to the lives of the Indian ruralpopulation. India currently has one of the lowest agricultural yields in the world. Mechanized farming using tractors willenable huge improvement in Indias agriculture productivity which is the private equity firms rationale for investment inthe firm.Incorporated in 1995, ITL has an annual turnover of $500 million. It currently has about 10% share in the domestictractor market. In addition, ITL exports tractors to over 70 countries. "We believe in fundamentals, farm incomes arerising, minimum support prices are going up and with the shortage of labor, and there is a need for modernization. Weexpect the tractor market to grow by 10% CAGR over the next five years," Gupta reasoned on why Blackstone picked upa stake in a tractor manufacturer. Blackstones MD said the company intends to stay invested for the next 5-7 years, atypical time frame for private equity firms to stay invested in a firm. Blackstone has been an aggressive investor in India,having acquired sizeable stakes in Gokaldas Exports, All Cargo and CMS Info Systems etc."Blackstone has identified rural and agro-based companies as a key area of growth, and the investment in InternationalTractors is a step in that direction," Gupta said. ITL, founded by LD Mittal (Chairman), AS Mittal (Vice-Chairman) &Deepak Mittal (MD), is headquartered in Delhi while its core manufacturing plant is in Hoshiarpur in Punjab. "In additionto helping us scale up our operations, this deal will provide us access to Blackstones global best practices," Chairman LDMittal said. Over the last six months, when the overall growth rates of the industry has remained flat to negative,International Tractor Limited has posted a growth of 17% by selling approximately 25,000 units in domestic market,increasing its domestic market share by 1.5%, said the company. By November, the company also intends to enter UK,
  • 26. France and Germany. It has already entered into a tie-up with a company in Turkey. "Blackstone is a globally renownedcompany. With their astute management support and global know-how, we would aim at faster growth in the future.This fiscal we are likely to close sales at around 60,000 units. Within the next couple of years, we intend to sell 1, 00,000units," said Vice- Chairman AS Mittal. Mittal is eyeing a domestic market share of 15% in the next two years with an eyeon a little over a billion dollars in revenue and $130 million in profits.Umesh Karne, auto analyst with BRICS Securities estimates the tractor market to decline by 4% in the short term andexpects the market to remain sluggish in first half of next fiscal. He is however bullish on long-term prospects. "Thefundamental for long-term growth remains intact. Despite the current slowdown, we expect the tractor market to growby 10-12% CAGR on account of paucity of labor, rising minimum support price for farmers and lower tractor penetrationin the country," said Karne. Click here for index Agilent Technologies ties up with Vizag CompanyAgilent Technologies, a US company which markets high-precision test and measurement solutions in the electronicsfield, has tied up with a local company, RKe Technologies to expand its reach in Andhra Pradesh and the southernmarkets.At a press meet here on Monday, country manager Sudhir Tangri said RKe Tech was a local company with two decadesof experience in the field and “it will open up new avenues for Agilent, especially in the defence sector. The state-of-the-art technological solutions of Agilent coupled with the understanding of the local market provided by RKe will bemutually beneficial.”He said Agilent Technologies was the worlds premier measurement company and a technology leader in chemicalanalysis, life sciences, diagnostics, electronics and communications. Worldwide, the company was employing 20,000persons in more than 100 countries. Its net revenues amounted to $ 6.6 billion.Country General Manager Parmeet S. Ahuja said Agilent had set up a R&D facility at Manesar. There was no plan to setup manufacturing facilities in India right now, he added.C.V.S Prakash Rao, Managing Partner of RKe Technologies, said his company had a vast portfolio in embedded solutions,calibration solutions and micro wave test solutions. The tie-up would be of benefit to both companies and the clientswould get better products and services. General Manager (Marketing) Gautam Awasthi also spoke. Click here for index nd Bharti Walmart opens 2 store in Bhopal Bharti Walmart today opened its second wholesale store in Bhopal, making the Madhya Pradesh capital the only city in the country where the group has set up two stores, its top official said.Leading retail chain Bharti Walmart today opened its second wholesale store in Bhopal, making the Madhya Pradeshcapital the only city in the country where the group has set up two stores, its top official said. "Encouraged by the hugeresponse that we have got in Bhopal after setting our first store, the company has decided to open second wholesalestore in Bhopal, thus making the state capital the only city in the country, where two such stores exist," Bharti WalmartCOO Arvind Mehndiratta told reporters after inaugurating the store.The cost of setting up one such store is Rs 35 crore and the company has already established three wholesale units inthe state, including one at Indore. The company has opened 20 stores in the country and is planning to open anotherfour wholesale outlets in the current financial year, including in Jabalpur in Madhya Pradesh, he said.Welcoming the Centres decision to permit FDI in retail, Mehndiratta said that it will further strengthen the retailbusiness in the country as the traders will get quality products for their shops under one roof on actual rates and nothave to depend on number of wholesalers for their requirements. Click here for index
  • 27. Autodesk acquires Pramatis QontextThe acquisition is expected to accelerate its ongoing move to the cloud and expansion of social capabilities in theAutodesk 360 cloud-based service. Nasdaq-listed Autodesk Inc. has acquired Qontext, enterprise social collaborationsoftware, and its 25-member development team from Hyderabad-based Pramati Technologies for an undisclosedamount.The $1.95-billion Autodesk is a leader in professional and personal 3D design, engineering and entertainment software.The acquisition is expected to accelerate its ongoing move to the cloud and expansion of social capabilities in theAutodesk 360 cloud-based service. The Qontext team will operate from Hyderabad, a new development centre forAutodesk. “This transaction is a significant milestone in our ongoing efforts to incubate and build companies thataddress the rapidly changing needs of business,” Pramati president, Vijay Pullur, said.Autodesk director, Soren Abildgaard, said the team in Hyderabad was expected to grow significantly over a period oftime. Click here for index Virginia Tech research center to open in 2013 in IndiaVirginia Tech is poised to open its largest research center outside the United States next year in Chennai, India.The Virginia Tech ICTAS Innovation Center will be overseen by Techs growing Institute for Critical Technology andApplied Science and a 6,000-square-foot facility is expected to open in spring 2013 in Chennai, said Guru Ghosh,associate vice president for outreach and international affairs.The university will provide up to $1.5 million in startup funds for operations, and industry partner MARG Ltd. will outfitthe high-tech labs and provide other equipment. "For every one dollar Virginia Tech invests, our industry partners willinvest five dollars," Ghosh said.The MARG Group develops and engineers industrial and government infrastructure projects in India, Singapore andChina, according to the companys website. None of the startup money for the center will come from state funding, norwill it come from tuition or fees charged to students, Ghosh said.The center will focus on three major areas of research that will serve the needs of developing nations, as well as ruralareas in the U.S., said Roop Mahajan, director of ICTAS. In the beginning, one researcher/professor will be assigned tothe Chennai center to work with Indian doctoral students, with plans to eventually bring Tech students and other facultythere. Partnerships with major Indian universities and other private corporations are also planned.The initial research focus will be developing and testing low-cost energy technologies, such as small-scale, flexible solarpanels and wind turbines that operate at low wind speeds. These may bring sustainable energy to people living inisolated areas in the developing world, as well as in the U.S., Mahajan said.Eventually, research will expand to advanced communications and "smart" radio systems that may have implications forcloud computing, geographical positioning systems, wireless networks and the like, Mahajan said. Another area ofresearch planned at the center is nanotechnology, a major focus of ICTAS research in Blacksburg. Already ICTASresearchers are working on nanofibers that can be used in high-tech water and air filters, as well as the targetedapplication of agricultural fertilizers and pesticides, Mahajan said.Because Chennai is a major area for automobile engineering and manufacturing, nanosensors under development byICTAS scientists are expected to become a major part of work at the India center, Mahajan said. Tech chose Chennai,Indias fifth-largest city, because of its high literacy and education rates, and because it is a national center ofengineering, science and technology, Ghosh said.Tech also has historical ties to India going back about 70 years to the first known Indian student to enroll at theBlacksburg campus. Its estimated that about 500 Tech alumni live in and around Chennai, which is situated in the
  • 28. southern state of Tamil Nadu. Techs India center is expected to be financially self-sufficient by its fourth year ofoperations, and any intellectual property developed there will contribute to research revenues, Ghosh said.As state subsidy of Virginia students has declined from 70 percent to 30 percent over two decades, Tech PresidentCharles Steger has encouraged research and patenting of technologies as new sources of revenue. The India center is akind of consolation prize for the university, allowing Tech to gain a foothold in one of the worlds largest emergingeconomies. India, with its 1.2 billion people, is second only to China, with 1.3 billion residents, as an expected area ofeconomic and technological growth.Tech had hoped to open a full-fledged graduate university in India, but that effort has been stymied by the IndianParliaments reluctance to allow foreign universities to operate independently in the country. A reform bill that wouldhave allowed Tech and other U.S. institutions to open campuses in India has stalled, with no timetable for a vote. ButU.S.-sponsored research centers are allowed under Indian law, so the ICTAS center can open now. Officials hope thecenter eventually will expand to up to 40,000 square feet.Tech currently operates major educational and research centers in Chile, the Dominican Republic, Switzerland andEgypt. The university has grants, projects, study abroad programs and other initiatives in more than 50 countries aroundthe world. Click here for index U.S based PE firm Blackstone inks India’s biggest commercial real estate acquisition dealUS private equity firm Blackstone has inked Indias biggest commercial real estate acquisition deal, which will give it 50%stake in a Bangalore builder-owned portfolio of three business parks for $200 million (over Rs 1,000 crore). The dealbeats Citigroups acquisition of a Mumbai office building earlier this year for Rs 985 crore, which was bigger than MapleTrees Rs 800-crore buyout of 2 million sq. ft. from Assetz Global Technology Park and Baring PE Partners Rs 500-croreinvestment in RMZ Corp for 6 million sq. ft. space.A person familiar with the matter told ET that Blackstone, which invests in realty firms, has bought stake in an SPVcomprising three commercial properties totaling over 10 million sq. ft. — Embassy Golf link and Manyata EmbassyBusiness Park in Bangalore and Embassy Tech Zone in Pune."Blackstone and Embassy Property Developments signed the transaction earlier this month. The deal was followed bythe October 4 order of the Competition Commission of India, which gave clearance for the transaction," said the person,who did not wish to be named. "It is an equity-level investment, where a holding company was floated with threecommercial assets under it. However, the deal finally cascaded down to the SPV level."A detailed email sent to Embassy did not elicit a response while Blackstone in an email reply said, "We would not like tocomment on this story. Our communication protocol does not allow us to speak on market speculation." Experts said thedeal is in line with this years trend. "Given the uncertainties in political and economic environment, investors are risk-averse and are investing in pre-leased commercial assets. Around 70% of the transaction closed this year are in pre-leased assets," says Rajeev Bairathi, director-investment advisory at DTZ India.As per the transaction, Blackstone will get compulsorily convertible debentures of Pune Dynasty Projects (PDP), which iscurrently into the development of the non-SEZ part of Embassy TechZone in Pune.Once converted, Blackstone will hold 50% stake in the SPV. Additionally, Embassy, which owns 51% stake in PDP, willacquire 49% from Alta Vista, a Mauritius-based financial institution, making it a subsidiary of Embassy PropertyDevelopments (EPD)."Post this acquisition, EPD will transfer its shareholding of 35.77%, 51.01% and 48.75% in the three SPVs in Pune andBangalore that are developing business parks along with some other assets in the form of advance paid for the purchaseof land and for acquiring joint development rights to PDP.
  • 29. Herein after, all the three SPVs will become the investee company," said a CCI order. Embassy Golf link is a 5-million-sq.ft., or 65-acre, business park while Manyata Embassy Business Park is a 100-acre integrated mixed-use developmentBusiness Park, which has a developable area of 18.29 million sq. ft. Embassy TechZone in Pune is spread over 70 acrewith 52 acre designated for a special economic zone. Some of Embassys big tenants at its commercial properties inBangalore and Pune include IBM, Capgemini, Mercedes Benz, Atos Origin and Accenture. "Blackstone and Embassy willjointly control and manage the entity in which the fund has invested. The deal has very complicated structure withmultiple cross-holdings. Embassy will be responsible for completion of the project," the person said.The Bangalore-based builder, which has delayed its Rs 2,400-crore IPO, has been on a fundraising spree. Embassy hasreceived Rs 135-crore funding in an SPV from Blackstone to develop residential-cum-retail on the 14-acre land parcel inHebbal. The fund also has an exposure of Rs 540 crore in Manyata Embassy Business Park, the countrys largestoperational tech SEZ, which it had bought from Ventures and the land developer.Embassy has developed nearly 25 million sq. ft. with a high degree of focus on business parks, whose valuation is peggedat Rs 8,000-10,000 crore. The company is also increasing its presence in the residential segment and has eight residentialprojects totaling 10.56 million sq. ft. under construction. It has a total debt of Rs 1,200 crore, of which 85% is linked torentals. The company has a total land bank of 1,300 acre in Bangalore. Click here for index Amway to set up R&D Centre for health, beauty segmentsDirect selling major Amway India today said it will open research and development center soon for making India specificproducts, including Ayurvedic, organic in health and beauty segments. "We will open R&D center in India. The focus of(R&D) will be on opportunities in India and on exactly types of things, whether on Ayurvedic products or organicproducts or other products that work for India."Our focus is on India and globally is on health and beauty categories...we see there is a lot of potential for thesecategories," Amway India MD and CEO William S Pinckney told reporters here on the sidelines of opening of companystouch point here. "A team from US will visit India February next year which will see where to open R&D center and howbig it will be," he added.The companys healthcare and beauty segment out of four segments have grown sharply on the back of productsgrowing acceptability in the country as these segments alone contributes 55 per cent of companys total sales which isexpected to touch Rs 2,400 crore by 2012.The companys upcoming new plant at Tamilnadu will also primarily manufacture healthcare and beauty products tocater to the growing demand, he said. "After setting up of new facility, health, wellness and beauty products will shiftdown to Tamilnadu while our contract manufacturers will produce homecare and personal care products," he said.Amway India will set up its own manufacturing facility at Tamilnadu with an outlay of Rs 550 crore and it will becommissioned by 2015. He said the company hopes to achieve sales of Rs 2,400 crore by 2012 with a growth rate of 10per cent over turnover of last fiscal."The growth in sales is migrating across the country. At present east and west are high growth rates for the company,"he said. Click here for index Harley Davidson eyes smaller Indian towns to expand footprintUS-based iconic cult bike maker Harley Davidson is targeting smaller towns in India as it looks to enhance presence inthe country. The company, which launched its Fat Bob model in India priced at Rs 12.8 lakh, also said it will considerincreasing the number of models assembled in India to offer its products at "affordable rate" for the customers here."We are looking to expand our dealer network. Currently, we have nine showrooms and by the end of the year we willhave our tenth and next year we will add three more in Jaipur, Indore and Pune," Harley Davidson India ManagingDirector Anoop Prakash told reporters here.
  • 30. He said the company has taken a conscious decision to spread presence in the tier II towns as there is a latent demandfor Harley Davidson bikes. "We are getting a good pull in smaller towns. There are a lot of people who have the samekey attributes as we have, in wanting personal freedom. The kind of enthusiasm we had received in a place like Kochiwas the same as in any metro," Prakash said.There was a tremendous response when the company held the Harley Rock Riders concert in places like Shillong andGuwahati, he added. Sounding bullish on the Indian market, he said the company will clock over 2,000 units by the endof 2012 as cumulative sales since it started selling its bikes in India in July 2010.When asked if Harley Davidson will assemble more models in India to bring down the price, he said: "Although there isno immediate plan for adding to our CKD line up, we will keep the option open for future in order to make our productsaffordable to customers."The company will continue to adopt and invest in strategies that make its "products and ownership experienceaccessible to more enthusiasts and customers in India," Prakash said. The latest model Fat Bob, which is powered by a1,600 cc engine, is the sixth model assembled in the companys plant at Bawal in Haryana. It presently sells 13 modelsfrom its 2013 line up in India. Click here for indexPrivate equity firm GE Capital pays Rs 125 crore for 7.7% stake in Biocon SyngeneGE Capital, the private equity arm of GE, on Wednesday picked up 7.69% in Syngene, the research services subsidiary ofbiotech firm Biocon, for Rs 125 crore. With this investment, the total valuation of Syngene stands at Rs 1,600 crore. TheBangalore-based Biocon, which was keen to list its arm Syngene through an initial public offering, has finally found aninvestor after two years."This is not just a financial deal. GE will bring its vast expertise in biologics and life sciences with this deal, which willallow Syngene to look at new research opportunities," said Kiran Mazumdar-Shaw, managing director of Biocon. Shawsaid Biocon will still explore the possibility of listing Syngene on the bourses. "We were not getting the right valuationfor Syngene, it was always undervalued. However, this deal has unlocked the valuation of the company."Biocon also announced that its recombinant insulin, Insugen, had positive results in phase-3 trials, showing safety andefficacy similar to the original innovator product. The company also stressed that it is in talks to bring in a partner forInsugen. Biocon expects the trial to run for one more year, before it is ready with the final product. The company alsoreported robust Q2 numbers, surpassing estimates by posting a 19% increase in revenue to 640 crore. Its net profit roseto 90 crore as against 86 crore in the same quarter last year. Net profit jumped 4.6% to Rs 89.65 crore. "We have seengrowth in all our verticals and there has been a sharp increase in research and development, which we take as aninvestment rather than expense," said CMD Kiran Mazumdar Shaw. The company incurred a 40% increase in its R&D ona like-to-like basis. Contract research services revenue posted a 39% growth to clock in Rs 129 crore, compared to Rs 93crore on a like-to-like basis.In the second quarter, Biocon exited from its alliance with Amylin Pharmaceuticals, after the latter was bought over byBMS. AC165198, Amylins proprietary molecule was jointly developed along with Biocon for diabetes treatment "Achange in control at Amylin provides Biocon with an exit option which it has exercised. This will enable Biocon to focuson its resources to other advancing programs, the company stated.In March, Biocon had severed ties with global drug-maker Pfizer, stating difference in priorities. The company hadentered into a $350-million agreement with Pfizer for commercializing its biosimilar insulin products. Biocon hadreceived $200 million upfront for the deal, and was supposed to receive milestone payment worth $150 million besidesthe royalty from the sale of the products. Click here for index
  • 31. Harman to set up manufacturing facility in PuneHarman, global provider of audio and infotainment solutions, is setting up a manufacturing facility and acoustic systemsengineering centre in Pune. Situated on a 4-acre expanse in Chakan, Pune, the manufacturing facility, the ground-breaking for which was done today, will have the capacity to support over 400,000 car sets annually, and entail SMT andinfotainment manufacturing capabilities. It is slated to be operational by the end of 2013.The Harman Acoustic Systems Engineering Centre, equipped to global standards, will be fully operational by April 2013.Michael Mauser, Executive Vice-President and Co-President, Infotainment and Lifestyle Divisions, said Pune will serve inHarman’s recently announced strategic multi-year relationship to develop and supply branded audio and infotainmentsolutions for leading players such as Tata Motors.“Our growth plan in India is intensive. We will invest $10 million in the first phase with 100 employees. With its hugebase of automotive OEMs, Pune is an ideal location. The input costs will be lower and to start with we will also conductlocal sourcing to the tune of 30 per cent. Our products and systems will be specially customized for the Indian market,”he said.“We will start with manufacturing of infotainment products like radio and navigation units and then scale up ouroperations by bringing in lifestyle products. Over a period of time, we will bring in our entire product portfolio into India.This manufacturing facility can also be looked at for exports at a later stage,” he added. Click here for index GM to expand capacity at HalolGearing up to launch a new multi-purpose vehicle (MPV), Enjoy, U.S. carmaker General Motors, said it would shortlyhave 1.10 lakh units annual commissioned capacity at its Halol plant in Gujarat.At present, the plant has an annual capacity of 85,000 units, with the company planning to launch the new eight-seaterMPV from its Shanghai Automotive Industries Corp (SAIC) platform. “Shortly, we would have 1.10 lakh unitcommissioned capacity annually at Halol because Enjoy is proposed to be rolled out from this plant in next couple ofmonths,” Vice-President (Corporate Communication) P. BalendranGM had recently raised its shareholding in an equal joint venture with SAIC to 91 per cent, regaining complete control.The company had invested over $1 billion in India till date, a company statement said.“Halol capacity was short...so it is being expanded. With the inauguration of a press shop at Halol, it is now an integratedmanufacturing plant,” Mr. Balendran said. The company has phased out its models such as Chervolet Optra and Aveo.“After the launch of Chevrolet Sail U-VA, a hatchback, we plan to roll out a new sedan model of Sail by next month,” hesaid. The new sedan will be the company’s sixth launch this year.As compared to sales of 1, 11,510 units last year, GM sold nearly 78,100 units till October-end in India this year. “InGujarat, we had sold 11,500 units last year, and hope to sell 10,000 units by this year-end,” Mr. Balendran said. Click here for index Mayfield invests in Indian incubator AngelPrime Does not disclose exact amount, but says overall fund run by AngelPrime will total less than $10 mnOne of Silicon Valleys most established venture funds is seeking to ferret out startup talent in India at the very earlieststages by investing in AngelPrime, a Bangalore-based incubator programme to foster young companies. The MayfieldFund said it would take a majority investment in AngelPrime, bringing its India investment expertise to youngercompanies, and more technology companies, than in the past. It did not disclose the exact amount, but said the overallfund run by AngelPrime would total less than $10 million.With the investment, Mayfield can foster early-stage technology in India, while keeping an eye on the start-up scenethere, said managing director Navin Chaddha. The fund will also be able to work with entrepreneurs it knows well.
  • 32. AngelPrimes founding partners are Bala Parthasarathy, Shripati Acharya and Sanjay Swamy, three of the co-founders ofonline photo company Snapfish, a former Mayfield portfolio company bought by Hewlett Packard in 2005.The partners will act as co-founders in the companies they support, Chaddha said, and will take larger stakes than mostincubators, though he did not say how large. In the United States incubators generally take stakes ranging from about 6percent to 10 percent.AngelPrime provides seed capital in the $200,000-$600,000 range to about three companies a year and aims to nurturethem for about 12-18 months. By contrast, the well-known U.S. incubator Y Combinator invests about $18,000 percompany, and its program runs three months. Its last class numbered more than 80 startups. Many venture firms areestablishing relationships with U.S. incubators. Andreessen Horowitz and General Catalyst, for example, are amongthose offering each Y Combinator company a total of $150,000 in convertible debt via the Start Fund."From a strategic perspective, it is a similar thing to what Andreessen Horowitz has done," said Chaddha, comparing thebenefits of Mayfields AngelPrime investment with Andreessens relationship with Y Combinator.India has long held promise for venture capitalists, with many comparing it to China in the 1990s when it comes to newcompanies. It has a few incubators, but none has yet achieved the type of traction programs such as Y Combinator has inthe United States.Mayfield currently invests in India through a dedicated $111 million fund for companies that are already generatingrevenue. In July, it announced Mayfield XIV, a $365 million U.S.-focused technology fund. Click here for index
  • 33. India’s Investments in U.S Hinduja firm Gulf Oil Corp buys US-based Houghton International for $1 billionHinduja Group firm Gulf Oil Corp said it will acquire US-based specialty chemicals maker Houghton International Inc. forUSD 1.05 billion (about Rs 5,670 crore).In the second-biggest acquisition by an Indian company this year, Gulf Oil will buy 100 per cent stake in Houghton,whose chemicals and lubricants are used in the metalworking and automotive industries, from a US-based private equityfund, which it did not name.New York-based private-equity firm AEA Investors LP had bought Houghton in 2007. Gulf Oil, which sells lubricants andindustrial explosives in India and offshore, said it, will make the acquisition through its UK subsidiary. The USD 1.045billion deal is subject to certain conditions and Houghton will operate as a separate company, it said in a statement.Lubricant maker Gulf Oils planned acquisition is second only to Indian Hotels Company’s USD 1.86 billion offer lastmonth to buy Hamilton, Bermuda-based Orient-Express Hotels Ltd. Houghton, a maker of fluids used for metalprocessing applications including cutting and stamping, has 12 manufacturing facilities in 10 countries and reported anoperating profit of USD 132 million in the year to September 30 on sales of USD 858 million.Gulf Oil said it will be able to offer Houghtons industrial clients "a complete end-to-end range of lubricants," followingthe acquisition. Houghton will give the company access to customers in more than 75 nations. Besides Indian Hotels,Rain Commodities reached an agreement this year to buy Belgium-based specialty chemicals group Rutgers in a USD 918million deal.Also, state-owned Oil and Natural Gas Corp (ONGC) bought stake in a group of oil fields in Azerbaijan for about USD 1billion. “An agreement was signed for the acquisition by its wholly-owned subsidiary in the UK on November 6, 2012,with the sellers, a US-based private equity fund," Gulf Oil said.Gulf Oil Corp Ltd will operate Houghton as a separate company and the rest of Gulfs operations will be able to leverageHoughtons extensive base of industrial customers to offer them a complete en-to-end range of lubricants, it said.In addition there are various synergies that can be achieved in manufacturing, strategic sourcing and distribution," itsaid. "The acquisition fits extremely well with Gulfs Lubricant portfolio. Houghton has a very strong industrial portfolio,which perfectly complements Gulfs very strong presence in the automotive lubricant sector," GOCL said.GOCL scrip closed at Rs 85.90 on the BSE, down 1.94 per cent from the previous close. Click here for index Sun Pharma inks pact to buy DUSA for $230 millionSun Pharmaceutical Industries, said it had inked a pact to acquire U.S.-based DUSA Pharmaceuticals for around $230million (about Rs.1,250 crore). Sun Pharma and DUSA Pharmaceuticals have entered into a definitive agreement underwhich Sun Pharma will acquire DUSA, a dermatology company focused on developing and marketing its Levulan photo-dynamic therapy platform, Sun Pharma said in a statement.Under the terms of the agreement, a 100 per cent subsidiary of Sun Pharma will commence a tender offer for all of theoutstanding common stock of DUSA at a price of $8 per share in cash, a 38 per cent premium to the closing price ofDUSA’s common stock on November 7, it added.
  • 34. “The transaction has a total cash value of about $230 million,” it said. The transaction has been unanimously approvedby the boards of directors of both companies and DUSA’s board has recommended that the company’s shareholderstender their shares pursuant to the tender offer, it added.PROVEN CAPABILITIES“DUSA has proven technical capabilities in photo-dynamic skin treatments with USFDA-approved manufacturing. DUSA’sbusiness brings us an entry into dermatological treatment devices, where we see good growth opportunities,” SunPharma Managing Director Dilip Shanghvi said.Commenting on the deal, DUSA Pharmaceuticals Inc. President and CEO Robert Doman said the company was confidentthat Sun Pharma would build upon the solid foundation DUSA had established in the U.S. dermatology market. DUSA’sLevulan combination therapy is approved by the Food and Drug Administration for treatment of non-hyperkeratoticactinic keratoses of the face or scalp.Leerink Swann LLC acted as exclusive financial advisor, and Reed Smith LLP acted as legal advisor to DUSAPharmaceuticals, the company said. Shares of Sun Pharma, on Thursday, closed at Rs.696.15 on the BSE, down 0.76 percent from its previous close. Click here for index MphasiS buys US mortgage management firm for $175 million Bangalore-based MphasiS expects the all-cash deal to buy US-based Digital Risk to conclude by 31 Jan MphasiS CEO, Mr. Ganesh AyyarMphasiS Ltd, an Indian IT services and back-office support provider and a unit of Hewlett-Packard Co., has agreed to buyUS-based Digital Risk LLC, a mortgage management specialist, for $175 million.The purchase furthers MphasiS’ strategy of focusing on financial services clients, a shift the company started in 2010,CEO Ganesh Ayyar said in a statement.Florida-based Digital Risk sells software, analytics and forensics solutions that mortgage providers and insurers canemploy to reduce risk of default and ensure regulatory compliance, according to the statement.Bangalore-headquartered MphasiS expects the all-cash deal to conclude by 31 January, subject to regulatory approvals.Privately held Digital Risk has 1,500 staff and expects $127 million in revenue for the year ending December 2012.Avendus Capital acted as financial adviser and Goodwin Procter LLP acted as legal adviser to MphasiS. Portico CapitalSecurities LLC served as financial adviser to Digital Risk. Click here for index Persistent Systems Acquires Innovative Cloud Platform Business from Washington based Doyenz, Inc.Persistent Systems, the global leader in software product and technology services, today announced it has entered intoa definitive agreement through its US subsidiary to acquire ‘rCloud’, an innovative cloud platform business fromprivately held Doyenz, Inc. Doyenz’s rCloud, an innovative business continuity cloud platform, provides backup and
  • 35. disaster recovery for physical and virtual servers on the cloud for SMBs. Persistent Systems will continue to serve rCloudcustomers under the Doyenz brand. The Company will develop and enhance the rCloud service, maintaining employeesand channel partnerships instrumental to its business. Terms of the definitive agreement were not disclosed.This acquisition furthers Persistent Systems’ objectives in growing its IP-led business, and strengthens the Company’scloud computing and SMB offerings. Doyenz’s team of seasoned cloud experts and its rCloud service will enablePersistent Systems to extend its cloud expertise and to provide a complete end-to-end solution to existing and newcustomers, delivered through the channel.According to a recent Forrester Research report entitled “An Infrastructure and Operations Pro’s Guide To Cloud-BasedDisaster Recovery Services,” 70% of SMBs interviewed said they considered DR (disaster recovery) to be of high orcritical importance in the decision to adopt cloud services.“We are committed to delivering the most advanced solutions in cloud computing and this acquisition will furtherexpand our IP led solutions in the cloud and SMB space,” said Nara Rajagopalan, Chief Product Officer, PersistentSystems, Inc. “With hundreds of partners representing over 3500 customers, Doyenz’s proven rCloud disaster recoverysolution is meeting a critical need in the global SMB marketplace. We are delighted to welcome Ashutosh Tiwary, CEO ofDoyenz and the Doyenz team of cloud platform experts to Persistent.”“Our vision was to make recovery of IT applications and data faster, simpler, and more accessible to companies of allsizes,” said Ashutosh Tiwary, CEO of Doyenz Inc. “Persistent’s acquisition of Doyenz’s market leading disaster recoverycloud platform will allow us to grow and deliver even more enterprise-class, affordable, cloud-based disaster recoveryservices to Managed Service Providers, serving the SMB community. The team and I are excited to join PersistentSystems and work together to further develop innovative disaster recovery and cloud services for our customers.”"Doyenz’s rCloud is a critical component to our business, providing innovative cloud-based disaster recovery services toour partners" said Alex Rogers, CEO of CharTec. "Persistent Systems brings strong financial backing and top notchsoftware professionals to rapidly develop innovative disaster recovery services for the channel."About Doyenz:Doyenz provides an innovative cloud platform that meets the business continuity needs of small and medium-sizedbusinesses. Doyenz rCloud provides backup and disaster recovery for VMware environments allowing IT professionals torestore virtual environments in under fifteen minutes, providing quick access to business critical applications. Doyenz isa privately held company headquartered in Bellevue, Washington with additional facilities in Boston, Massachusetts andLondon, England. Click here for index Sahara buys 2 iconic NY hotels - New York Plaza, Dream New York Now looking at picking up some other landmark properties in New York to build up a portfolio of luxury hotelsSubrata Roy-promoted real estate-to-financial services major Sahara Group has completed the acquisition of two iconicNew York hotels—New York Plaza and Dream New York-—both based near Manhattans Central Park, a century-olddestination for socialites and celebrities, for around $800 million (about Rs 4,400 crore). The Sahara Group, which hadacquired Grosvenor House in London in 2010, is said to be now looking at picking up some other landmark properties inNew York to build up a portfolio of luxury hotels.According to sources, the Sahara Group will acquire a 75% stake in Plaza Hotel for $570 million, while Kingdom, theinvestment vehicle of Saudi billionaire Prince Alwaleed bin Talal, will hold a 25% stake after a complex transaction.Similarly, Sahara has bought Dream Downtown, owned by celebrated New York hotelier Vikram Chatwal for $220million. Both the deals were signed recently.
  • 36. Dream Downtown, featuring 315 loft-style rooms and Suites is a prized property of the Chatwals. Dream Downtown iswithin walking distance of shopping and art galleries and the famous neighborhoods of So-Ho, Chelsea, and the WestVillage. Both Plaza and Dream Downtown would continue to be looked after by the existing management. It could notbe immediately ascertained as to how Sahara would finance the two deals. It may be pointed out that it had earlierpledged the Grosvenor House to raise 250 million pounds, a part of which may be used to fund the New York purchases.Sahara officials did not comment on the development. The deal comes at a time when Indian Hotels, part of the Tatagroup, has made a bid for acquiring a controlling stake in the Bermuda-based hospitality firm, Orient Express Hotels for$1.86 billion.The 105-year-old storied New York Plaza, overlooking New Yorks Central Park, is known for its rich legacy and wasdesigned by Henry Janeway Hardenbergh , who also designed the historic Fort Garry Hotel in Winnipeg. Alfred GwynneVanderbilt, heir to the Vanderbilt industrial empire, was understood to have been the first guest of the hotel when itopened to the public in October 1, 1907.The hotel, struggling in recent years, was accorded a landmark status by the New York City Landmarks PreservationCommission in 1969 and was designated a National Historic Landmark (NHL) in 1986. It has been the site for famousperformers and guests and has also been frequented by US presidents. It also featured in more than two dozenHollywood movies, including North by Northwest (1959), Scent of a Woman (1991) and Home Alone 2 (1992), besidessome TV serials such as Friends, Ugly Betty and Sex and the City. The hotel was also the setting of various literary works.Saharas agreement to purchase the two New York based hotels come on the back of a Supreme Court order directing itto refund over $3 billion worth of bonds raised by selling optionally fully convertible debentures. Sebi last year said thedebt issue didnt comply with rules. According to the groups website, it has assets worth $26 billion.Apart from the two New York hotels and Grosvenor House, Subrata Roy owns Sahara Star, a 223-room five star hotelnear the Mumbai domestic airport. Besides, it also owns a resort-cum-township for the uber rich at Amby Valley inMaharashtra. Click here for index MindTree opens development centre in FloridaAs part of its efforts to reach out to clients in the US, IT solutions company MindTree Ltd opened a delivery centre inGainesville, Florida. It is the first delivery center outside India for MindTree.The company said that it would create 400 new jobs over the next five years and a $2.925 million investment has beenplanned, of which more than $1.6 million had been invested in the project. It had also hired 47 people since the FloridaGovernor Rick Scott announced the project in March.MindTree said that its new US delivery center was the first outside India for it and was “part of the company’s strategy”to expand IT and software services to its US clients. It said that Gainesville was chosen over places in Alabama and SouthCarolina with many local organisations joining to impress on MindTree as how the location “fits Mindtree’s culture”.Governor Rick Scott and MindTree’s co-founders Krishnakumar Natarajan and Scott Staples, among others, were presentat the ribbon cutting ceremony of Mindtree Delivery Centre on November 13, MindTree said in a communication to thestock exchanges. Click here for index Infosys unit to buy unit of Marsh & McLennanA unit of Indias Infosys Ltd. is buying the claims processing, call center and accounting unit of U.S.-based insurancebrokerage Marsh & McLennan Cos. for an undisclosed amount. Marsh BPO has seven insurance-company clients withmore than 600,000 policy holders, Infosys BPO Ltd. said in a statement recently. All 87 Marsh BPO staff will be absorbedby Infosys BPO.The acquisition will expand Infosys BPOs presence in voluntary group life insurance, the statement added without givingany other details. Infosys Ltd. is Indias second-largest outsourcing company by sales. Infosys BPO posted $495 million inrevenue in the fiscal year ended March 31.
  • 37. In December Infosys BPO bought Australias Portland Group Pty. Ltd. for 37 million Australian dollars ($38.2 million). Itbought privately held U.S. insurance company Mc. Camish Systems for about $58 million in 2009. Click here for index IBS Software Services Acquired US Hotel Booking SolutionKerala based IBS Software Services on 24 October 2012 announced the acquisition of Atlanta-based Hotel BookingSolutions (HBSi) through a multi-million dollar deal.The acquisition of HBSi by IBS’ was made by buying over the entire shareholding of Crosslink Capital, which is SanFrancisco-based leading private equity and venture capital firm. Crosslinks Capital has over $1.8 billion in assets withinvestments in around 100 companies.With the acquisition of Hotel Booking Solution almost hundred major players in the hospitality industry includingStarwood, Harrahs, Raffles, Ramada, Fairmont and Kerzner on the supply partner side as well as Expedia Orbitz andTravelocity on the distribution side will join the IBS stable.Hotel Booking Solution is a travel technology and services firm that provides distribution services to leading hotelcompanies and travel suppliers by linking their computer reservation systems to distribution channels for instanttransmission of room availability, rates, and inventory and reservation confirmations. Click here for index Jindal Poly Films to acquire ExxonMobil unitJindal Poly Films Ltd, part of the B C Jindal Group, has entered into an agreement with ExxonMobil Chemical to acquireits biaxially oriented polypropylene (BOPP) global films business.The purchase agreement was signed on Friday, but Jindal Poly Films did not disclose the deal size. The shares of JindalPoly Films ended 4.67 per cent lower to close at Rs 212.50 on the BSE recently. The transaction remains subject tonecessary approvals from the regulatory authorities, the company said in a statement.ExxonMobil’s BOPP has five manufacturing units in the US and Europe and has about 1,500 employees. The transactionalso includes a technology center and sales office in Rochester, New York and an office in Luxembourg.“We are excited to buy this business due to its excellent portfolio of premium products along with industry leadingtechnology and R&D. We are confident that, in combination with our existing Indian operations, we will be able todeliver long-term solutions to our customers globally,” Hemant Sharma, CEO, Jindal Poly Films, said in a statement. Click here for index
  • 38. Indo-US Corporate News Subway plans 1,000 stores in 5 yearsSubway has encouraged developing opportunities in non-traditional locales such as airports, hospitals, college anduniversity campuses.Quick service restaurant brand Subway has opened its 300th restaurant in India, at Terminal 2 of the MumbaiInternational Airport. Fred DeLuca, President and Co-founder of Subway, is bullish on India and plans to open 1,000stores in India in the coming five years through the franchise route.The Connecticut-headquartered brand is present in 50 Indian cities with 263 franchisee-run restaurants. Globally, theSubway brand has more than 37,000 restaurants spread throughout 100 countries. Robby Gulri, Area DevelopmentManager, said, “Mumbai figures prominently in Subway’s growth plans. The rising inclination of people towards healthyeating has also given an added impetus to Subway’s performance.” Mumbai International Airport, which sees thehighest density of travelers in transit, now has its own Subway store. “Subway, as a global brand, has always encourageddeveloping opportunities in non-traditional locales such as airports, hospitals, college and university campuses,” saidChetan Arora, Development Agent for Subway Mumbai and Maharashtra.The chain is now focusing on tier-II and tier- III cities. Subway has adapted its menu to appeal to the Indian consumer.No beef or pork products are served, and in addition to products available at its locations throughout the world, therestaurants in India offer a wide range of local favorites such as Chicken Tandoori and Paneer Tikka.Though the company has only two vegetarian products in its American and European menus, recently, it rolled out itsfirst ever all-vegetarian outlet at Jalandhar-based Lovely Professional University (LPU). The latter is run by a strict HinduMittal family and promotes only vegetarian meals on the campus.India is a small part of Subways business contributing 2.5 per cent to overall revenue. Click here for index Bharti Walmart opens outlet in RajahmundryIt’s Rajahmundry in coastal Andhra Pradesh now for Bharti Walmart. The joint venture between Bharti Enterprises andWalmart Stores Inc. in India opened its fourth ‘Best Price’ wholesale store in Rajahmundry. The outlet will create 170direct jobs. The joint venture already has stores in Vijayawada, Guntur and Hyderabad. Its plan is to open 19 storesacross India this year.Arvind Mediratta, Chief Operating Officer, Bharti Walmart, inaugurated the store, which is spread over 53,000 squarefeet next to the ONGC Base Complex.Wide rangeThe store will stock over 5,000 items, including a wide range of fresh, frozen and chilled foods, fruits and vegetables, drygroceries, personal and home care items, electronic goods, and other general merchandise items.In a press release the company said several products available have been locally sourced from Rajahmundry andsurrounding areas including paper, snacks and confectionaries, dairy, frozen and bakery, personal care, tobacco. Also,some of the private label items available in the store that are sourced locally includes pickles, rice, stationery, maida,besan, idli and dosa mix, atta, pulses, spices and ghee. Click here for index
  • 39. Indias Ranbaxy launches acne drug in US Ranbaxy Laboratories Ltd, Indias top drug maker by sales, said it has launched Absorica, a drug used to treat recalcitrant acne, in the United States. The drug is in-licensed from Cipher Pharmaceuticals Inc., said Ranbaxy, controlled by Japans Daiichi Sankyo Co. Click here for index Punjab asks Monsanto to set up a R&D center for maize crop in state In a bid to put the agriculture diversification on fast track, the Punjab Chief Minister Parkash Singh Badal has asked the US-based Monsanto hybrid seed company to establish its research centre to undertake extensive R&D for the production of high yielding hybrid seeds of the Maize in the state. A high level delegation of the company led by Vice President, Global Vegetables and Asia Commercial, Consuelo E Madere recently called on the chief minister. During the deliberations, D Narain CEO Monsantos India Region apprised the chief minister that the company had developed heat tolerant hybrid maize varieties for the northern region especially Punjab adding that the company had focused to develop maize varieties for the kharif season in order to provide a viable alternative to paddy in the state. He also assured Mr. Badal that company would also make all out efforts to develop high yielding soya bean seeds in its endeavor to boost diversification of agriculture in the state. Assuring all possible assistance to the company, the Chief Minister directed the Vice Chancellor (VC) Punjab Agricultural University (PAU) to provide technical data and logistic support to enable them to produce quality hybrid seeds best suited to the climatic conditions of the state. Mr. Badal also constituted a high level committee headed by the chairman of Punjab Farmers Commission Dr. GS Kalkat with Financial Commissioner Development (FCD) Mr. GS Sandhu, advisor to agriculture Dr. Balwinder Singh Sidhu and director agriculture Dr. Mangal Singh Sandhu as members to work out the modalities for developing high yielding varieties and maize seed in tandem with the Monsanto Company besides in aiding them to set up research cum seed testing center at the earliest. The Committee has also been mandated to suggest self-sustaining marketing mechanism to ensure hassle free marketing of Maize to the farmers. The Punjab government has planned to reduce the shift the area under paddy from 28 to 16 lakh hectares in a phased manner over a period of six years. Click here for index MWV Will Acquire Ruby Macons Ltd. to Accelerate India Growth StrategyVirginia based MeadWestvaco Corporation, a global leader in packaging and packaging solutions today announced adefinitive agreement with Mr. Alibhai Nathani and family to purchase Ruby Macons Limited (“Ruby Macons”), India’s topproducer of corrugated packaging materials and a leader in the country’s growing industrial packaging industry. Terms ofthe transaction were not disclosed. “The acquisition of Ruby Macons extends our participation in India, strengthening our presence in a market that we have targeted for profitable growth,” said John A. Luke, Jr., chairman and chief executive officer, MWV. “The Nathani family and the Ruby Macons leadership team have built a very successful business and established a best-in-class operation that boasts advantaged operational and technical leadership, strong brand awareness and reputation among converters and brand owners, a highly efficient capital model and an advantaged geographic location within India in Vapi, Gujarat. The addition of Ruby Macons boosts our ability to grow profitably in India by bringing their leading local position and capabilities in packaging materials together with our global expertise and innovation capabilities.” "We’ve built a significant and highly-profitable industrial packaging business in Brazil over the last 60 years, and we will leverage this experience to serve the rapidly-evolving retail sector and fast-growing middle class in India. Through
  • 40. Ruby Macons and its converting customers, in addition to our own box plant in Pune, MWV will offer a wide range ofpackaging solutions that address market and consumer needs in India, including innovative solutions similar to thoseweve developed in Brazil for fresh produce, industrial products and consumer goods markets.”“We are pleased to welcome Ruby Macons to the MWV family and are very excited about the profitable growthopportunities this acquisition creates,” concluded Luke.Ruby Macons is the market leader in corrugated packaging materials in India, producing greater than 150, 000 tonsannually with significant capacity expansion underway. Founded and managed by the Nathani family since 1986, RubyMacons’ revenues were approximately $80 million over the last 12 months with double digit operating margins andstrong return on capital. The company has achieved greater than 20 percent average growth over the last severalyears and is poised for significant future profitable growth through the expansion plans underway.“From the beginning, the Nathani family and Ruby Macons’ management has built a strong business delivering highquality products to customers and value to all our stakeholders,” said Mr. Alibhai Nathani, chairman of Ruby Macons.“After extensive conversations with MWV, through which we came to understand their global leadership, outstandingtechnical capabilities and strong long-term commitment, we chose them as the right partner to take Ruby Macons tothe next level. Our single-most focus while making this decision was to ensure that the business we’ve built withpassion over the last two decades will be in the right hands to ensure long term sustainability for all our stakeholders.Our family will continue to be involved in the business, and we are excited about partnering with MWV.”Ruby Macons’ offices and manufacturing facilities, including its two mills containing three paper machines, are locatedin and around the industrial city of Vapi, Gujarat, 180 kilometers north of Mumbai. These assets will remain in fulloperation and become an important part of MWV’s industrial packaging and global manufacturing platform. All RubyMacons employees will become MWV India employees and the Ruby Macons management team will remain in place,including Mr. Ashraf Nathani, managing director, Ruby Macons, who will become vice chairman and president of thebusiness.Mr. Ashraf Nathani said, “I am excited about leading MWV’s paperboard operations in India, and I know that we willbuild a very strong presence in the market. The products, relationships and quality leadership of Ruby Macons will beleveraged together with the strong MWV technical and management teams. I am convinced that together we willhave the vision, resources and ability to succeed in a market like India.” The acquisition of Ruby Macons expands MWV’s presence in industrial packaging in India, which today includes a manufacturing facility in Pune making rigid, humidity-resistant corrugated packaging for fresh fruits and vegetables, consumer goods, household appliances and pharmaceuticals. Upon closing, the combined business will report through MWV’s Industrial packaging segment. MWV has a broader packaging business in India - led by managing director Gautam Sircar and headquartered in Pune, India - delivering innovative packaging solutions for a variety of consumer goods markets, including Healthcare, Beauty & Personal Care, Home & Garden, and Beverage. It also markets specialty chemicals for asphalt paving and other markets. “Our plan is to continue to drive aggressive growth in this business as part of our broader India and global growth plans,” said Peter C. Durette, senior vice president and chief strategy officer for MWV, who oversees the company’s business and growth in India. “We see significant potential for high quality, innovative solutions in India, from corrugated and consumer packaging to specialty chemicals that can help solve significant challenges in India and improve the lives of consumers. We are developing insights into the unique unmet needs in the local marketplace and bringing solutions that will benefit customers and consumers in India.” Click here for index Dominos India aims to be largest franchise outside US in 2 yearsJubilant Foodworks, which operates Dominos Pizza chains in the country, has said it plans to become the largestfranchise for the US brand outside its home market in the next two years. "We are already the fourth largest Dominosfranchise outside the US now, but growing at the fastest rate in the past five years. In the next two years we will be the
  • 41. single largest outside of the US. "Currently Dominos India is 5 per cent of global stores and we believe in the next fiveyears it will be 10 per cent of global stores," Jubilant Foodworks chief executive Ajay Kaul has said.Globally, the pizza chain operates close to 10,000 stores. Kaul further said the company will continue to open about 100stores each over the next six years and will hire over 3,000 people each year.The company will be opening a total of 110 Dominos Pizza stores in FY13 instead of 100 stores as planned earlier. Out ofthe targeted number of stores, the company has already opened 50 pizza stores this financial year. The company hasearmarked a capex of Rs 150 crore for growth across verticals as part of its expansion plans.The company is planning to hike its prices by 2-3 per cent this month to beat inflation. "We had increased prices inAugust last year, then one in November and the recent one in this June. Our next price hike will be this month and it willbe 2-3 per cent increase," he said.The company had launched Dunkin Donuts in the country this April in Delhi. It currently has five Dunkin Donutsrestaurants and plans to take it to 10 outlets by the end of the fiscal.It also plans to open its next Dunkin Donuts outlets in Mumbai and Bangalore in the next six months. "We are looking atcities. On our radar, we are looking at Mumbai and Bangalore next. It will happen in the next six months or so. Alreadywe are doing some research, looking at customers, looking at spaces. It will take its time. We are in no tearing hurry toget a full footprint just because we are in a rush. We want to get it right and then scale it up," he said. Click here for index Voltech, NanoPV venture to build solar module plant near ChennaiThe Voltech group of Chennai and the US-based NanoPV have joined hands to put up a 100 MW solar modulemanufacturing plant near Chennai and a solar park near Tuticorin. Voltech is a medium-sized group that is into themanufacture of transformers.Setting up a cell and module manufacturing plant may appear foolhardy at a time when global majors are being toppledby the Chinese companies’ onslaught and the slowdown in the European economy. But NanoPV’s President and CTO, DrAnna Selvan John, says that the company has unique and patented technology that enables it to be competitive even inthis market. “NanoPV has unique technology based on amorphous and nano-crystalline silicon and proprietary light-trapping and ‘transparent conductive light-trapping oxide’ technologies,” says the company’s Web site. Because of this,compared with conventional solar cells, NanoPV’s cell manufacturing involves one-third the process and takes one-thirdthe cost, and “300 times less amount of material consumption.”Voltech’s Managing Director, M. Umapathi, said that the group has near Chennai a factory building where it onceproduced textiles. NanoPV intends to bring in plant and machinery from the US and set up a production line here.The initial capacity would be 10 MW and would gradually be ramped up. Umapathi estimates the cost of the project tobe Rs 100 crore.Solar farm near TuticorinAnother joint venture of Voltech and NanoPV is putting up a 100 MW solar farm near Tuticorin. The project will beimplemented in phases, and work has begun on the first 10 MW. In this venture, a UAE-based company called Arab GulfPearl Trading is also participating. It has taken 50 per cent of the equity. This project too would cost Rs 100 crore.Work has commenced on the first 2 MW, which will be completed by March 2013. The other 8 MW will be ready toproduce power by the end of 2013, Umapathi said. NanoPV says that its modules can generate 1.8 million units ofelectricity per MW each year.The joint venture intends to enter into power purchase agreements with industrial consumers in the state, forming a‘group-captive’ structure.
  • 42. Click here for index Intel looks to modernize PDS retailing in Gujarat Company to bring initiatives like biometric transactionsInformation technology solutions provider, Intel is looking to modernize retail outlets under public distribution system(PDS) in Gujarat. The company is eyeing to replicate its Karnatakas next-generation point of sale scale system project inGujarat.Intel has set its eyes on modernizing retailing through PDS mechanism by combining three functions of weighing scale,point-of-sale and biometric, which would also supports the local language. "We have observed that many states in Indiaincluding Gujarat are putting their efforts to use technology to improve the public distribution system. There are alsodirections from Central Government to guide these efforts. We expect the PDS system in the country to see some goodchanges in near future," said S Natarajan, country business manager – Embedded Markets, South Asia-Intel.The company looks to bring automation, which would improves efficiency of the PDS supply chain and enablestransparency in the overall process. This is believed to bring down malpractices and eliminate irregularities.Food is one of the three fundamental needs of society, and the Karnataka project demonstrates how technology canhelp the cause of the common man. It can serve as an example for other States in the country. We would like to discussin detail on how technology can help PDS in Gujarat. "Computerization of PDS in the state can help eliminate bogus orduplicate cards, minimize exclusion or inclusion errors and diversion or leakages, capture transactions accurately andmaintain updated records," said Natarajan."It can improve efficiency of logistics in the storage and movement of food grain. Computerization will bringaccountability at all levels and transparency across the supply and delivery chain," he said. At the time the SupremeCourt issued its directive, there were 16,557 Fair Price Shops in Gujarat spread across 26 districts."Technology and solutions are scalable, as we have demonstrated in the Karnataka, where we are working through ourecosystem on a project with the Government to computerize more than 20,000 Fair Price Shops," added Natarajan.The company is willing for a state support for the project. "Given the opportunity, we’ll be happy to work with theGovernments of different states on projects where we can better the life of the common man by means of ourtechnology," he said. Click here for index Citi Expands Express Wire Asia Program with India Desk Citi Expands Express Wire Asia Program with India DeskCiti has expanded its Express Wire for Asia capabilities, with a dedicated India Desk. Citi, one of the premier providers ofcross-border payments, announced today that it is further extending its US Dollar Express Wire for Asia services bylaunching Express Wire India Desk.Citi’s Express Wire for Asia Service helps streamline the execution of US Dollar payments by sending transactions to thebeneficiary bank in Asia expediently. If a payment order requires repair, Citi’s experienced operations professionals areavailable to correct formatting errors on a timely basis. Express Wire also provides additional liquidity to banks that needto process their payments within Asia morning business hours, as well as direct linkages into local US Dollar Clearingsystems.Citi launched a dedicated China Desk to expedite Asian payments in 2010. Given expanding trade relationships betweenIndia and the rest of the world, the need for more effective payment solutions into India has increased. Complexbanking systems and infrastructures can be challenging for counterparties who are seeking to do business in new andunfamiliar markets. Citi’s new Express Wire India Desk provides local expertise and improved access, to help expeditepayments into India.“Citi has an unparalleled global network. We are able to harness the local knowledge and expertise found withcolleagues who operate in more than 100 countries around the world and bring that value to our clients with programs
  • 43. such as Express Wire, and specialized ‘desks’ that offer services relevant to a particular market. Our clients can leverageCiti’s in-depth knowledge and understanding of how to do business most efficiently in foreign markets,” said VanessaLin, Head of USD Clearing at Citi Transaction Services.By using Citi’s Express Wire for Asia Program, Citi’s clients have access to a larger network of local and regional clearingchannels, with the added ability to request that payments be routed through a specific clearing system. In addition, localsupport enables foreign banks to conduct their business seamlessly, with direct access to the experts on the ground. CitiTransaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, andsecurities and fund services to multinational corporations, financial institutions and public sector organizations aroundthe world. With a network that spans more than 95 countries, Citi’s Transaction Services supports over 65,000 clients. Asof the third quarter of 2012, it held on average $415 billion in liability balances and $12.8 trillion in assets under custody. Click here for index DuPont expanding Hyderabad knowledge centreScience-based products and services company DuPonts $50 million Knowledge Centre in Hyderabad will soon becomethe companys largest R&D facility outside of the United States.The $38-billion company has finalized plans to expand the four-year-old facility to develop products and services indiverse fields not only to suit the Indian market but to provide a platform for its global products. The company spendsabout $2 billion on R&D annually, out of which a significant slice will be utilized by the Hyderabad facility and its otherlaboratories in South East Asia. It provides science-based products and services to a diverse set of industries rangingfrom food, agriculture to energy and protection.Rajeev Vaidya, President (South Asia), said the expansion would support the companys global seed trait discoveryresearch. It will undertake research on developing new traits on a variety of crops such as corn and maize that enhancesyields and are more resistant to pests, he told newspersons here today.The facility will also for the first time undertake a variety of application development work such as developing light-weight auto components. With India growing as a hub for small cars, the company feels that the need for replacingheavy metal components with lighter polymer parts would increase, he said. Vaidya said the center would also work ontitanium technologies that will use its expertise in particle technology and polymer processing for applications inplastics. Apart from this, it will also work on applications in food packaging, fabric care and grain processing segments. Click here for index
  • 44. Special ReportSpecial Report India’s coffee market competition is ferocious: Howard Schultz, StarbucksInterviewed by Ms. Sonali Krishna, Anchor & Editor of Brand Equity, Economics Times NOW Mr. Howard Schultz, Chairman and CEO, StarbucksSonali Krishna: India has got its first Starbucks and we can all enjoy a lovely cup of coffee, but why has it taken you solong?Howard Schultz: Everyone has asked me the same question. I like to know the answer myself. The truth is, this (India) isa very complex market to enter. At one point we thought we could come here alone and we overestimated thecomplexity. But once we met the people from Tata, we realized overnight that the assets were so complementarybetween Tata and Starbucks that together we could co-author a very unique strategy - bring Starbucks in India and overa time build a very substantial significant business together.Sonali Krishna: Why did you decide to come into India with a partner? We do not have any restrictions in FDI in singlebrand retail. Why did not you just do it on your own?Howard Schultz: India is like no other market in the world. Tatas position in India is very unique. It is a company that hasunique capabilities in terms of infrastructure. But mostly their values were so consistent with ours, building a companywith a conscience, treating people well, taking care of the communities and we thought this was an opportunity to dosomething together that we just could not do ourselves.Sonali Krishna: No doubt Tata is one of the biggest corporate houses in India. It is their second coming in the coffeespace. They ventured into the coffee retail space with Barista by holding a minority stake and that really did not go verywell. How did they sell themselves to you to?Howard Schultz: The coffee market here is ferocious in terms of competition. There are so many players trying to dowhat we think we can do better. What Tata brings is a unique perspective in terms of real estate acquisition capabilities,the opportunity to integrate Starbucks into Taj Hotels, the ability to bring food from the Taj into Starbucks stores andthe capability that we just could not do on our own just in terms of the infrastructure and distribution. Their previousexperience had no bearing whatsoever on what we thought would be a fantastic partnership.We are here to build a major business and when I say major business, we think over time India will be one of the largestmarkets in the world for Starbucks. We also think that the competition has done us a favour. They have educated themarket and created lots of consumers. Our own research suggests that this market is perhaps like no other. Theawareness of Starbucks is so large here and there is so much pent-up demand that we think that over time this is goingto be one of the best markets in the world for Starbucks. I do not think we could have done it without Tata.
  • 45. Sonali Krishna: I believe your India expansion plans are in tandem with your APAC expansion plans. You are looking at400 outlets, 200 of which are in China. So my question is why so aggressive in China and why so passive in India? Wouldit be in admission of sorts by you that India is in fact the most challenging, complex and bureaucratic markets?Howard Schultz: We have not said how many stores we are going to open in India. People keep asking for how many,how soon. Let us open up one store. We are going to open up two next week and let us see. Our history as a company isto accelerate growth. We have opened 700 stores in mainland China in 13 years, but we had educated their marketunlike here. The size of the price here is large. We got to go as fast as we can, but this is going to be thoughtful,disciplined and the leader in India in our view is not going to be how many stores you have, it is going to be thereputation of the company, the company experience and that is we do best.Sonali Krishna: Earlier we were given to believe that you had a 50 outlet target for Starbucks in India by the end of 2012.Do you have a revised plan now on how you are going to be expanding?Howard Schultz: I do not know where that number originally came from, but I am not here to say how many stores orhow soon. I will tell you we are going to build a very large successful business here.Sonali Krishna: This really comes from a deeper philosophy I believe Starbucks is practicing globally where you believegrowth going forward is not going to be simply by expanding your outlets, but really by looking at a diversification inyour portfolio in your product offering which is why you are looking at possibly even alcoholic drinks. So if you can talkto me about that strategy and is that what we are going to see in India as well?Howard Schultz: Well, let us frame the Starbucks business today. We have 18,000 stores in 60 countries. India will be 61.We are serving about 70 million customers a week and we employ over 200,000 people. The brand equity of Starbucksaround the world is one of the most recognized and respected of any consumer brand. Over the last few years, we havedeveloped multiple channels of distribution primarily in grocery stores, mostly in North America, although we are nowlooking at other places. We do not generally move to those channels of distribution until we have established the brandwithin our retail stores. We do think there are multiple channel opportunities within India, but only after we establishthe brand. But the market here is large and robust. We will have a business in India that will go beyond our retail storesovertime. Click here for index OVL (ONGC VIDESHs) wishes to have an integrated presence in the USQ&A with DK Sharraf, MD, ONGC VideshD K Sarraf has been at ONGC VIDESHs (OVL) helm for the last 14 months. His tenure so far has been challenging as thecompany faced its first drop in output due to geo-political problems in Sudan and Syria. He is hopeful of a recovery fromnext year as new fields are expected to start production. Ending a lull, the company is back in an acquisition mode afterrecent stake buy in an Azerbaijan field and is eyeing assets in the US and Canada. Sarraf speaks to Ajay Modi on theimpact of geo-politics on business, the new challenges and companys plans.Of late, geopolitical developments have been impacting the oil and gas business in some overseas countries. How doyou see things panning out in future?Oil and gas prospects are generally available only in difficult territories - either in terms of environment or geo-politics. Ifthey are not difficult on either, they will be difficult on competition with low returns. Geo-politics has been and willcontinue to play an important role in oil and gas exploration and exploitation. It needs to be handled on a case to casebasis, and there is no general prescription to deal with the same. This ultimately zeroes down to political risk which isfactored into while evaluation of any opportunity.Has acquiring assets become more difficult in past one year due to competition?Acquiring oil and gas assets has been competitive for many years and I would not say that something has changed in thepast one year. In fact, in the recent times, many opportunities for acquisition have come up due to the strategic
  • 46. portfolio shift of many western companies which are now concentrating on geographies like North America. However,the expectations of the sellers in terms of desired price have become higher.ONGC has set a Perspective Plan 2030. What role will OVL play in it?OVL produces little less than 9 million tons of oil and gas in FY12. Our vision is to produce 20 million tons by 2017-18 and60 million tons by 2030. If we are able to achieve the same, OVL’s contribution would be 46% of ONGC group productionby 2030, against existing 15%.What is the near-term outlook for OVL’s production?Production had decreased last fiscal mainly due to problems in Sudan and Syria. This year the problems are stillcontinuing leading to further decline in production. In addition, some fields are on a declining phase. Consequently, wecould produce 3.488 million tons in the first six months which is lower by over 23%. However, going forward, productionwould start looking up from the existing assets from 2013-14 as production would start from the blocks A-1 & A-3 inMyanmar, Carabobo Project in Venezuela and the second phase of Block BC-10 in Brazil. Also, our recently-acquired2.72% stake in ACG fields in Azerbaijan will add to the number.How is OVL’s financial health? Any plans to list the company?OVL’s financial health continues to be robust. We have been having profit after tax of more than Rs 2,500 crore duringlast 2-3 years. Our profits for the first half of the current fiscal are also at Rs 1,649 crore. The Debt-Equity Ratio hasdecreased from 10 in 2003-04 to less than 1 now. We have been financing about 70% of our investments from internalresources. At the same time, being a wholly-owned subsidiary of ONGC, we get more strength from the financials ofONGC. ONGC has been the highest profit making company of India and continues to be debt free. We get full financialsupport from ONGC. So far as listing of OVL is concerned, this is a decision to be taken by ONGC. What I believe is, itmakes more sense for ONGC is to support OVL like at present, create more value and only then list it to get maximumout of divestment.Tell us about the progress in restoring output in South Sudan?Production at 50,000 barrels per day is almost normal in North Sudan. But most of it is getting consumed in theirdomestic refineries and little is being exported. Once we resume production from South, most of it will be available forexport. Production from South is expected to be restored in next 3 to 6 months.Is OVL looking at North America and Canada?Very large hydrocarbon resources are available in North America. Canada is among top nations in terms of oil resources.These resources are accessible to investors, unlike certain West Asian countries where only crude oil can be bought butoil reserves can’t be owned. Canada is very transparent and investor friendly country.With increase in production of shale gas, US now has exportable gas surplus. Due to over-supply, gas prices are towardstheir historical lows. Gas import terminal facilities created in the past are being converted to export facilities. There areimmense opportunities in the US for participating in its upstream business. US have a good network of pipelines.However, the challenge here is that India does not have a free trade agreement with the US. Therefore, export of gasfrom US to India requires approvals by US authorities on a case by case basis. Several applications are underconsideration with the US government. We wish to have an integrated presence in the US where we may produce gas,transport it to shore through pipelines and have it converted into LNG for export to India.Are you also look at investing in a terminal in US?Yes, we are. Also, one can invest in a terminal or preferably book capacity in an upcoming terminal.What are the other geographies that excite OVL in addition to US and North America?In addition to other parts of Africa, East Africa has good opportunities in Mozambique and Kenya. Brazil, Venezuela,Colombia etc. in Latin America is interesting. Central Asian countries and Russia also provide good opportunities. Severalnew areas of interest are emerging.
  • 47. Tell us about OVL’s plans of acquisitions?We are looking to make couple of big-size acquisitions. Last three years there had not been any major acquisitions butnow the ball has been set rolling with the purchase of stake in ACG fields in Az erbaijan and BTC pipeline recently. Somemore would put us back on track.What challenges you may face in your vision?We have a vision to produce 60 million tons by 2030, but it is easier said than done. By 2030, most of the existing fieldswould be depleted. So, we have the challenge of creating afresh producing capacity of most of 60 million tons. Foracquisitions of this magnitude, we need to streamline the organization systems, personnel and organize finance.Challenge remains on deciding which areas to focus, how to select a partner, manage geo-politics, and so on. We havealready addressed some of these issues while others are getting sorted out. Other than normal business uncertainties,the oil and gas sector has uncertainties of geology, crude oil price, regulatory regime, etc. There are different schools ofthought related to oil price and there is no right answer to oil price in future and deciding on crude oil price for valuationbecomes difficult. Click here for index
  • 48. In the News: Indian companies created 50,000 jobs in US, says Deputy Secretary of State William Burns Burns praised the recent Indian decisions with regard to next phase of economic reforms.At a time when unemployment is a major issue in the US due to its poor economic status, Indian companies through itsmassive investments in America have created 50,000 jobs in the country, a top US diplomat said. "Our economicrelationship is very much a two way street. Both of us are focused on attracting growth and investment to our shores.Indian owned Tata factory in Ohio puts thousands of Americans to work, part of the over 50,000 jobs Indian firms havecreated in the US. Opportunities for small, medium and large American businesses in India are staggering," US DeputySecretary of State William Burns said.Burns added that India is being projected as worlds third largest economy by 2025. But 90 per cent of India is stillwithout broadband, 80 per cent of Indias infrastructure for 2030 hasnt yet been built, according to McKinsey, Indiaplans to invest one trillion dollars on infrastructure in the next five years alone. Burns praised the recent Indian decisionswith regard to next phase of economic reforms."Of course, for our companies to provide the technology and expertise to help India prosper, Indias government mustcreate an environment that encourages growth," he said. He added that Indias recent easing of some restrictions onForeign Direct Investment is promising. Indian multi-brand retail, aviation, power grid and broadcasting companies andmarkets will be more open to investment, technologies and best practices from all around the world. It will be easier tobring food to market.He emphasized that greater economic openness is not a concession to the US. It is one of the most powerful tools Indiahas to maintain and expand its growth. Burn Observe that India has no more important partner than US. Total directinvestment of US in India in 2000 was USD 2.4 billion which in 2010 get to USD 27 billion. During the same period Indiandirect investment in America grew over USD 200 million to nearly USD 5 billion, which is more than a twenty foldincrease. So we have never invested in each others country to such extent."Maryland Governor Martin OMalley gets USD 60 million in two way businesses from his India visit. Kentucky GovernorSteve Beshear visited India three times and brings about USD 7 billion private sector energy deal. Norfolk has a sister cityalliance with Kochi in Kerala that has helped Virginia export nearly USD 300 million in goods to India each year," he said.Burns last week in New Delhi, has urged his Indian counterparts to address non-tariff barriers, favoritism for localcompanies, restrictions on foreign investment and intellectual property protection because progress and predictabilitywill only shore up Indias economic foundations."We are aiming for a high quality agreement that expands on recent reforms to provide still greater openness toinvestment, strong rules to protect investors and guarantee transparency and effective means for resolving disputesshould they arise", he said.He added that consortium of Indian and American corporations and banks have created Infrastructure Debt Fund tofinance Indias massive investment in roads, grids, seaports, airports and all the necessary building blocks of a moderneconomy. He said that Civil Nuclear Initiative still holds promise for the people of India and US. "Without diminishing thereal and frustrating challenges we have faced, both governments are now engaged in realizing practical benefits of thecivil nuclear agreement, especially reliable electricity for Indias homes and businesses," he said.Burns argued that our companies are making good headway in negotiations with their Indian counterpart to completeworks agreements by the end of this year.
  • 49. In June, Westinghouse and Indias Nuclear Power Corporation took important steps that will lead to Westinghousenuclear reactors in Gujarat. We hope General Electric can follow suit. He said, "Indian government has clearly indicatedthat nuclear energy will remain important part of Indias energy equation and we are equally committed to expandingcooperation in other areas, from wind and solar energy to natural gas and bio fuels". Click here for index US immigration reforms: Indians want Obama to cut long wait for green cards Obama’s decision in June 2012 is to stop deportation of young illegal immigrants, who arrived in America with their parents and graduated from US schools.Every US presidential election throws up its share of surprises — and this time it was the Latino voters. The fact thatover 70% of them voted for Barack Obama has turned the spotlight on immigration reforms, which have been largely onhold in the run-up to the elections.No surprises that President Obama highlighted immigration reform policy in his first press meet after re-election onWednesday. The roadmap for immigration reforms are likely to address the issue of illegal immigrants but at the sametime attracts and retains highly skilled manpower from overseas."When I say comprehensive immigration reform, it is very similar to the outlines of previous efforts at comprehensiveimmigration reform," Obama said. He is hopeful of bipartisan support on immigration issues.And while immigration reforms may be top of the mind, even for the Republicans right now, the reforms that Indians inthe US are looking at are very different from what the largest immigrant community — the Latinos — have on their wishlist.Focus on Immigration PolicySanjay Puri, chairman, US India Political Action Committee, believes that immigration reforms will now be on the fasttrack. "One of the things that President Obama has said consistently in public and private is that he will try to getimmigration reform done in his second term. Given the challenges the Republicans faced in states such as Nevada,Florida, Colorado and New Mexico, they are likely to realize that they need to take into account a fast-growing Hispanicpopulation, which is turning to the Democrats in a big way.To make inroads into the community and to ensure that they dont become a permanent minority, the Republicans willneed to be at the table on fixing immigration reforms. It would mean that H-1B and skill-based visas, the main concernof Indian immigrants, would also become part of the discussion, along with the need to retain Indian students withdegrees in sciences from US universities and giving them green cards," he said.Obamas decision in June 2012 to stop the deportation of young illegal immigrants, who arrived in America with theirparents and graduated from US schools, has found huge support among the Hispanic community. This category ofimmigrants has been allowed to receive work authorization and their numbers are believed to be about 1.4 million.Concerns of IndiansFor Indians and Indian Americans, issues such as the proposed STEM legislation, which would fast-track green card forforeign students with advanced degrees in science, technology, engineering and mathematics (STEM), are far moreimportant. So far, Republicans and Democrats have failed to reach an agreement on the proposed STEM law or the billthat will eliminate country-specific green card quotas. This law called the Fairness for High-Skilled Immigrants Act HR3012 too is being watched very closely by Indians in America, many of whom are waiting in long green card queues.Experts now feel that theres a greater chance of the stalemate on immigration reforms ending and the process movingforward. "Given how poorly the Republicans did with Hispanic voters, there is a greater chance that the currentstalemate on immigration policy will be broken. President Obama has said immigration reform is a priority and
  • 50. Republicans will be more inclined to cut a deal with him to get the issue off the table for future elections. For Indianbusinesses, however, any immigration deal could be a double-edged sword. There may be some increase in H-1B guestworker quotas but that is likely to be coupled with more stringent rules," says Ron Hira, professor of public policy,Rochester Institute of Technology.There are major concerns over H-1B and L1 work permit visas too among Indian companies. Over the past year, it isbelieved that refusal rates for work permit visas have gone up sharply, which hit Indian IT companies hard. PurnimaVoria, national adviser to the Obama administration, minority business development agency, United States departmentof commerce, says, "This is the time to raise H-1B visa issues and to tackle them. The Indian American businesscommunity is playing an important role in highlighting such issues with the US departments of commerce, immigrationand labour."Immigration Laws on HoldSTEM LegislationIt has broad bipartisan support and is aimed at creating a new green card category for foreign students holding USmasters degree or PhD in science, technology, engineering or maths. The area of disagreement between Republicansand Democrats is on whether to create 50,000 new immigrant visas or to reallocate from another category.Elimination of Country-Specific Green Card QuotasAlso called the Fairness for High-Skilled Immigrants Act HR 3012, it will eliminate country-specific quotas in theallocation of employment-based green cards. For Indians facing a huge green card backlog, with some even waiting forover a decade to be granted permanent residence in the US, this will be a big advantage.DREAM ActThis is a bipartisan legislation that will provide undocumented young people with a path to citizenship on completion ofcollege. While Obama signed an executive order preventing the deportation of undocumented immigrants under 30who meet the requirements of the act, legislative action is yet to be taken on it. Click here for index US Working With India for Increased Defense Cooperation US Defense Secretary, Mr. Leon PanettaAs the Obama Administration moves towards strategic re-balance in the Asia-Pacific region, the US today it was workingwith India to develop increased defense co-operation. "We are working with India to develop increased defensecooperation," US Defense Secretary Leon Panetta told reporters travelling with him on his 4th trip to the Asia Pacificregion.Early this year during his trip to India, Panetta had entrusted one of his top officials to work on reducing bureaucratichurdles to increase India-US defense trade. "My deputy at the Defense Department is working very closely with India totry to advance that progress," Panetta said.
  • 51. During his current week-long trip Panetta is travelling to Australia, Cambodia and Thailand for regional and bi-lateralconsultations, which comes ahead of the South East Asia trip of US President Barack Obama."The rebalancing to this region is a very important part of the new Defense strategy that we announced and that theeffort to rebalance is real. Its going to be long-term. I mean part of this is long-term strategy and in which well continueto work at this. But weve also made some very tangible progress at rebalancing just in this past year," he said.Panetta said the US has made good progress with China."As you all know, on China trip, we made good progress in trying to improve our mil-to-mil relationship and to try todevelop a strategic dialogue into some very key areas that are extremely important if we really are going to advancepeace and prosperity in the region," he said. Click here for index India, US discuss ways to lower barriers to trade, investmentCommitted to strengthening bilateral economic ties, India and the US today discussed ways to lower trade andinvestment barriers further. In a joint statement after the India-US Economic and Financial Partnership meeting, FinanceMinister P Chidambaram and US Treasury Secretary Timothy Geithner said the two sides will also strengthen co-operation to combat money laundering and terror financing.They said India and the US are committed to exploring new areas to deepen and broaden economic and financial ties."Both countries recognize the great potential benefit from working together to meet the challenges of a shared future togenerate jobs, sustain growth and help ensure macroeconomic stability... "We discussed ways we can further lowerbarriers to trade and investment to facilitate stronger growth and job creation," the statement said. "Our workcontinues on infrastructure financing." At the meeting, the two sides discussed economic and financial developments intheir economies and in the world. We agreed to deepen our cooperation bilaterally and in multilateral fora, includingthe G-20 to contribute towards steering the global economy out of uncertainties and achieving strong, sustainable andbalanced growth going forward," the statement said.The two sides agreed to expand cooperation to deepen capital markets and strengthen financial regulations. The thirdpartnership meeting was attended by RBI Governor D Subbarao and US Federal Reserve Chairman Ben Bernanke, amongothers."The Partnership (launched in 2010) meetings have served as the forum for the highest level of engagement betweenIndia and the United States," the statement added.The growing bilateral trade and investment across products, services and technology "is a sign of our commitment tobuild our relationship on a solid foundation that utilizes our mutual strengths", it said. Click here for index
  • 52. State’s Burns Cites Strategic, Economic, People Ties with India Deputy Secretary of State William BurnsThe United States and India, linked by “a steady convergence of interests and values,” have created a vitally importantpartnership based on strategic cooperation and economic and people-to-people ties, according to Deputy Secretary ofState William Burns. “The essence of the vital partnership that we’re building lies in a simple truth. For the first time, forboth of us, our individual success at home and abroad depends significantly on our cooperation,” Burns said inWashington recently.STRATEGIC COOPERATIONBurns said that the United States and India have a strong interest in a peaceful future for Afghanistan and share a long-term commitment to sustainable growth for Afghanistans economy, strong democratic institutions in Afghanistan andan Afghan-led peace and reconciliation process. “Afghanistan will need massive private investment and far greatereconomic linkages to its neighbors,” he said. The deputy secretary praised India for committing more than $2 billion indevelopment assistance to Afghanistan since 2001, and noted that Afghanistan already sends one-quarter of its exportsto India despite not having direct access to India’s markets. India is engaged in negotiations with Turkmenistan, Pakistanand Afghanistan to build a gas pipeline that will contribute to the creation of a New Silk Road, he added.The deputy secretary said the United States and India are “united by our experience of tragedy and terror, sharedthreats in Afghanistan and a shared vision for a peaceful and open Asia-Pacific.” Cooperation in counterterrorism, whichdid not exist until a few years ago, is now robust and extends to all levels of policy and law enforcement, he said.India has bought billions of dollars of U.S. defense equipment in the past four years, even as the defense relationshipevolves toward co-production and joint research, Burns said. To keep pace with India’s rising global importance, theUnited States supports India’s push to become a permanent member of the United Nations Security Council, he said.The deputy secretary said India already is exercising global leadership in anti-terrorism efforts, sanctions against Iran,supporting elections in Egypt and staffing peacekeeping operations.SHARED PROSPERITYBurns said the United States and Indias long-term economic interests are mutually reinforcing. He pointed out that theUnited States is India’s most important partner in its modernization, which is lifting hundreds of millions of its citizensout of poverty. U.S. investment in India increased more than tenfold between 2000 and 2010, to $27 billion. During thatperiod, India’s investment in the United States grew from $200 million to nearly $5 billion. “We have, literally, neverbeen so invested in each other’s success,” he said.The United States wants to conclude an investment treaty with India that will expand on recent reforms, offer strongrules to protect investors and guarantee transparency, and provide effective means to resolve disputes. He said theUnited States is eager to partner with India to build civil nuclear energy plants, roads, power grids, seaports and airports.
  • 53. “If we do not seize these economic opportunities, others will,” he said.PEOPLE-TO-PEOPLE EXCHANGESIndia’s greatest resource, Burns said, is its people, and the United States wants to increase interactions betweenAmericans and Indians in science and technology, educational exchanges, civil society engagement and innovation. “Theorganic growth of people-to-people ties is what has set the pace in our relationship for many years, and ourgovernments are only now catching up,” Burns said. He cautioned that continued progress in the U.S.-Indian relationshipcannot be taken for granted. “It’s a little like riding a bike; either you keep peddling ahead, or you tend to fall over,” hesaid. Click here for index Gujarat IT companies diversify operations in USBarack Obamas return to the White house and his strong views against outsourcing jobs overseas may be bad news forthe Indian outsourcing industry. However, IT companies in Gujarat have found a way to retain their clients in the US bybranching out to other segments. IT companies in Gujarat, which relied highly on North American companies, haveeither started focusing on other countries in Europe and Asia in the last 12 months or have diversified into smalleroperations of consulting and providing enterprise solutions to American companies.Azure Knowledge Corporation opened an office in Philadelphia in July to run a project for the US Department ofEducation. The Ahmedabad-based knowledge processing outsourcing company checks and ranks the quality of US-basedcall centers which work for the education department in the US.Jay Ruparel, co-founder, Azure, "During the presidential campaigning, Obama was pretty serious about keeping jobs inthe US, which is why we thought of expanding our services and running quality control projects there. Although theoperations are quite small, it will help us deal with any allegation that we are snatching jobs by taking them offshore.Besides, we can retain clients and it will give us a cushion amid slowdown."In December 2011, the Obama administration tabled the US Call Centre Bill to put aggressive mandates on all overseascall centre operations.Sunil Kakkad, president, Gujarat Electronics & Software Industries Association, said, "Several small companies fromGujarat have opened office in the US and are diversifying into other segments in IT to be safe against new anti-outsourcing policies." Kakkad, who is the chairman and managing director of Sai InfoSystem (SIS), recently started thecompanys mobile commerce operations in Chicago out of fear that the Obama government may bring out a policyagainst outsourcing. "The precise reason we started operations in the US is the fear that the government may go againstoutsourcing anytime," said Kakkad.According to the industrys apex body Nasscom, Indian IT firms have recently increased their investment by ten times inUS-based centers. This has created around 175,000 jobs in the US, which was facing high unemployment rates at onetime.Despite the strong anti-outsourcing views, some Gujarat companies are optimistic about the growth of the industry inthe US market. Pratul Shroff, founder, eInfochips, said, "Visa rejections soared under Obamas administration and ourcompany also experienced it. But, almost 96 per cent of our revenue comes from the US. It means that whenever thereis a crisis, there is potential. Once customers see the value of outsourcing offshore, they will come to Indian companies." Click here for index US-based investor plans start-up school in KochiFreeman Murray, an investor and mentor based in the US, would set up a start-up school for young entrepreneurs incollaboration with the Start-up Village, Kochi, India’s first telecom incubator.
  • 54. The school will come up at the Start-up Village in partnership with Jaaga.in, a hub of digital creativity in Bengalurusupporting designers, start-ups, and digital freelancers. Jaaga.in has been set up by Murray.Addressing a press conference here, Freeman said the school would enroll 100 students initially for a 6-month course ofwhich 4 months would be devoted to residential classes. Brighter ones with better ideas and entrepreneurship skillswould be selected for the final two-month course. Preference would be given to those with better communication skill.The school would help young first time entrepreneurs to launch successful Internet companies.Startup Village CEO, Sijo Kuruvilla said the engineering colleges in the state had started to encourage their students toset up their own ventures and the results were showing in the growing number of applications reaching the StartupVillage. Around 20 students were applying every week, he added.The Kerala government recently announced a policy to encourage student entrepreneurs. The policy ensures grace markand relaxation in attendance for students who start new ventures. Click here for index US explores treaty to nail US tax defaulters in IndiaThe US has said it is working on an inter-government engagement with India and other countries to check non-compliance by American taxpayers using foreign bank accounts in their jurisdictions. Through these engagements withmore than 50 countries, the US is looking to implement information reporting and withholding tax provisions, commonlyknown as the Foreign Account Tax Compliance Act (FATCA).Enacted in 2010, FATCA aims at checking non-compliance by US taxpayers using foreign accounts. It requires foreignfinancial institutions to report to the US tax department information about accounts held by US taxpayers, or by foreignentities in which they hold a substantial ownership interest.Concerns have been raised in the past by various foreign banks and other financial institutions about the FATCAprovisions, as it is feared that they might lead to increased compliance costs and might infringe upon the local financialsecrecy laws of the jurisdictions concerned.An agreement with India will allow the US tax department to seek information from the financial institutions operatingin that country about their clients who are liable to pay tax in the US. In a statement, the US Treasury Department saidlast night it has engaged with more than 50 countries and jurisdictions around the world to improve international taxcompliance and to implement FATCA provisions.“The jurisdictions with which Treasury is working to explore options for inter-governmental engagement includeBermuda, Brazil, the British Virgin Islands, Chile, the Czech Republic, Gibraltar, India, Lebanon, Luxembourg, Romania,Russia, Seychelles, Sint Maarten, Slovenia, and South Africa,” it said.The US Treasury has already concluded pacts with the UK. The jurisdictions with which it is in process of finalizing anagreement or it hopes to conclude negotiations by year-end include: France, Germany, Italy, Spain, Japan, Switzerland,Canada, Denmark, Finland, Guernsey, Ireland, Isle of Man, Jersey, Mexico, the Netherlands, and Norway.“Jurisdictions with which Treasury is actively engaged in a dialogue towards concluding an intergovernmental agreementinclude: Argentina, Australia, Belgium, the Cayman Islands, Cyprus, Estonia, Hungary, Israel, Korea, Liechtenstein,Malaysia, Malta, New Zealand, the Slovak Republic, Singapore, and Sweden,” the Treasury said.Negotiations with many of these jurisdictions are expected to be concluded by the year-end, it said. “By workingcooperatively with foreign governments and financial institutions, we are intensifying our ability to combat tax evasionwhile minimizing burdens on financial institutions,” Treasury Assistant Secretary for Tax Policy Mark Mazur said.
  • 55. (L-R) Josh Wolfe of Lux Captial, John Kao of Institute for Large Scale Innovation, and Vivek Wadhwa at the fifth Annual Blouin Creative Leadership in New York City.The U.S. presidential election is less than two weeks away, and immigration hasn’t figured very prominently in thelast-mile campaigning of U.S. President Barack Obama and his rival, Republican candidate Mitt Romney. Instead,issues like jobs, the economy, and relations with China have dominated.India hasn’t come up either, apart from in a few attack ads on outsourcing aimed at Mr. Romney. But with a new bookthat looks at data on entrepreneurship and immigration in the U.S., Vivek Wadhwa, an adviser to students andUniversity’s engineering management program, hopes to return high-skilled visa policy to the agenda. In “TheImmigrant Exodus,” Mr. Wadhwa argues that Americans should be very concerned by the increasing difficulties thatforeign information technology workers and scientists face in getting green cards.It’s a tricky argument to make in the U.S. at the moment. Even if Mr. Romney did say, in the second debate, thatforeigners graduating with science and math degrees should get a “green card stapled to their diploma,” anti-immigration sentiment tends to prevail. Mr. Wadhwa’s book, while eliciting praise from some quarters, was dubbeda “shill for India, Inc.” by one reader who reviewed, while another called it a “paid advertisement for Indian IT.” “TheImmigrant Exodus,” which came out earlier this month, focuses on entrepreneurship and the jobs this creates tomake its case, and is based on research on start-ups carried out over several years with other academics who focus onglobalization and economic activity.The research showed that between 1995 and 2005, a quarter of engineering and tech start-ups in the U.S. had at leastone immigrant founder. Follow-up research, released this month, found a one percentage point drop in the numberof such start-ups set up by immigrants between 2007 and 2012. (Indian immigrants were founders in a third of allimmigrant-led start-ups in the last seven years.) Within Silicon Valley the change was starker. There was an 8.5% dropin start-ups founded by immigrants there since 2005.Mr. Wadhwa is particularly concerned about restrictions on the employment-based permanent residency visas, orgreen cards, which are capped at 140,000 per year and pave the way to citizenship. These visas make it possible forimmigrants to commit to living in the U.S. and start a business there, he argues. He spoke to The Wall Street Journalabout immigrant entrepreneurship, the green card backlog and which presidential candidate will be better for techimmigrants. Click here for index
  • 56. Indian-American professor appointed as the first director of digital learning at MITSanjay Sarma, an Indian-American professor of mechanical engineering and alumni of IIT, has been appointed as the firstdirector of digital learning of the prestigious Massachusetts Institute of Technology (MIT).In the new role, Sarma will work closely with the Institutes faculty, staff and students to consider how new models ofonline instruction might become integral parts of MIT students on-campus education. Sarma, 1989 IIT alumni, has longworked to develop new instructional techniques for mechanical engineering students. The announcement of Sarma’sappointment was made by MITs President L Rafael Reif."He will explore, collect and build on the wisdom and experience of individuals and groups across our community, andlead us in shaping a coherent vision...On the subject of blending online learning and residential education, he will alsoserve as experimenter-in- chief, assessing what is working best in MITs current educational model, what we could domore effectively and what kind of changes we should pursue, from the way course content is delivered to the way weshape the campus itself," said Reif.Sarma, who is a member of the Institutes mechanical engineering faculty since 1996, has received multiple MIT awardsfor excellence in teaching, including the Den Hertog Teaching Excellence Award, in 2001, and the Joseph H KeenanAward for Innovation in Undergraduate Education, in 2002. He was also named a MacVicar Fellow in 2008, an MIThonour reflecting outstanding undergraduate teaching, mentoring and educational innovation. Click here for index India big part of his plans, Barack Obama tells Manmohan Singh“India is a big part of my plans,” US President Barack Obama said on Tuesday as Prime Minister Manmohan Singhcongratulated him in person on his re-election.Singh, who came face-to-face with Obama on three occasions here for the first time after he was re-elected President inthe November 6 polls in the US, told him: “Congratulations on your re-election.” The two leaders, who attended the EastAsia Summit and the retreat in the Cambodian capital, shook hands and exchanged pleasantries.51-year-old Democrat Obama had defeated his Republican rival Mitt Romney in the Presidential polls to secure a secondfour-year term.After Obamas re-election, Singh had said he looked forward to continuing their “friendship” and “rewardingassociation” as much more can be done together to further strengthen the bilateral partnership.In his congratulatory message to Obama, Singh had referred to the association between the two leaders over the pastfour years and recalled that cooperation between the two countries had not only been advanced across the fullspectrum of ties but engagement had been deepened.
  • 57. “Dear Mr. President, it gives me great pleasure to convey to you my warmest congratulations on your re-election as thePresident of the United States,” Singhs letter had said.Meanwhile, National Security Advisor Shivshankar Menon held a 90-minute meeting with his US counterpart TomDonilon here and discussed bilateral relations and other issues of mutual interest.Sources said it was a very fruitful interaction on several issues of mutual interest. Click here for index US department of agriculture pegs Indias coffee exports at 5.51 million bagsIndia’s coffee exports are expected to decline by 5 per cent to 5.51 million bags (about 3.30 lakh tons) in the currentmarketing year due to an expected larger global supply of the brew, a USDA report said.Coffee exports from India stood at 5.81 million bags of 60 kg each (about 3.49 lakh tons) in 2011-12 marketing year(October-September), the United States Department of Agriculture (USDA) said in its latest report.“Exports for marketing year (2012-13) are forecast at 5.5 million bags, down just 3,00,000 bags from last year’s recordlevel due to expected larger global supplies,” it added.While global Arabica prices have dropped significantly, prices for Robusta, which comprises the bulk of Indian exports,have been relatively steady, lending support to the expectation that exports will again be near record, it said.According to the government-run Coffee Board, the exports from India, the world’s 6th largest exporter, dropped by 8per cent to 3.21 lakh tons in the 2011-12 coffee marketing year. On domestic consumption of the brew, the US agencyon the farm sector said that despite a rise in demand in the domestic markets, exports still constitute a majority of thetrade in the brew.“There are signs that popularity of coffee is increasing with the spread of both foreign and home-grown coffee shops.However, exports continue to siphon large amounts of coffee away from the domestic market and consumptionestimates are largely unchanged,” it said.The bulk of India’s coffee production is exported and the domestic industry focuses much of its marketing effort onexport promotion, the USDA added. According to Coffee Board, domestic consumption of the brew rose by 6 per cent to1.08 lakh tons in 2010 from 1.02 lakh tons in 2009. Click here for index Norms relating Indian defense technologies need reform: PowellThe US recently stressed the need for review of norms regulating defense technologies in India. "We each have verycomplicated procedures that govern development of technologies; sharing of technologies, export and import oftechnologies...trying to look at those...some of our regulations has not been revised since 1950s and 1960s. They dontreflect current role of India. And American companies are very interested in this market."We are hoping that both of us can look at trade piece of that...our side looks at export...India will continue to look at itsacquisition process and see how it can be streamlined given complexities of these issues; it is not going to be overnighteffort. I see it as part of the continuity with the second Obama administration," US ambassador Nancy Powell said at theWorld Economic Forum in Gurgaon.Asked about deputy secretary of defense Ashton Carters remark about the US involvement in developing Indiasindigenous defense technologies, she said US companies are very interested in it and suggested the need for revisingcertain regulations to make it possible.
  • 58. Asked how she was looking at Indo-US relationship in the next six months, the ambassador said it is likely to be reviewedso that the cooperation can be further expanded."I think both of us have new leaderships and foreign ministries. I think there will be a review of our relations. Currentdialogues, trade interactions and see what we can strengthen ....I think the bilateral investment treaty have provided anew model. India is also developing a new model. Discussions which have gone on for the last two years can make someprogress," she said.Asked about the US position on Pakistan sticking to the Kashmir issue, she evaded a direct reply and said the US was"encouraged" to see the new visa regime and initiative for better economic ties between the two neighbors. Click here for index US strongly values strategic partnership with India, says State Department spokesman Mr. Salman Khurshid, Cabinet Minister of the Ministry of External Affairs, IndiaValuing its "strategic partnership" with India, Washington has expressed the hope that new External Affairs MinisterSalman Khurshid would be a valued partner in carrying forward their strategic dialogue."We highly value our strong strategic partnership with India," State Department spokesman Mark Toner told reporterswhen asked about Sundays Cabinet reshuffle when Mr. Khurshid replaced S. M. Krishna. "Certainly weve had anespecially productive relationship with Minister Khurshid in his prior service at the Ministry of External Affairs as well asother positions in the Government of India," he said. "And we believe hell be a valued partner in carrying forward thestrategic dialogue that Secretary (of State Hillary) Clinton has co-chaired and in building what President Obama hascalled a defining partnership with India," Mr. Toner said."His experience and his expertise in the business community or on business issues are also important to our bilateralrelationship and are particularly welcome." "And certainly Secretary Clinton, enjoyed a very productive, constructiverelationship with Minister Krishna and she looks forward to working closely now with Minister Khurshid," Mr Toner said.Asked if Ms. Clinton had invited Mr. Khurshid to visit the US, he said: "Im not aware that theyve spoken yet, and so Idont know." Click here for index US fiscal cliff wont impact Indian IT sector: NasscomDespite fears the fiscal cliff in the US would lead to that country cutting budgets next year, the National Association ofSoftware and Services Companies (Nasscom) feels it is unlikely this would have an adverse impact on the $100-billionIndian information technology (IT) sector.A fiscal cliff refers to the simultaneous expiry of tax breaks and the introduction of spending cuts. Nasscom, whichrecently scaled down its estimate of growth in India’s software services for FY13 from 11-14 per cent to 9-11 per cent,said with the election in the US over, “the worst may be behind us”.
  • 59. “Our business depends on our customers. This time, the focus of the Obama administration would be more on economicgrowth. The priority would be on creating jobs. To achieve that, they need to support business,” said Nasscom presidentSom Mittal. He added the trend in the quarter ended September showed businesses would see growth.Recently, international trade expert Jagdish Bhagwati had expressed concern on US President Barack Obama’s secondterm. He alleged Obama had stifled outsourcing and termed him the worst US president. Analysts feel as the fiscalscenario in the US turns grim, there would be some impact on the Indian outsourcing industry. “There could beautomatic spending cuts and tax increases. To gauge the impact, we need to see who the key clients of Indian ITcompanies are. If corporate tax rates increase, it wouldn’t augur well for the Indian IT industry. There may be someimpact, but it needs to be seen what the extent would be,” said Harit Shah, senior research analyst, Nirmal BangInstitutional Equities.When asked if Nasscom would want to move to quarterly estimates, as business visibility was becoming difficult, Mittalsaid, “We might come out with six-month guidance. But as of now, we do not see a reason to do so. We will come outwith our annual guidance in April next year.”He added though the industry’s pricing environment had not improved, it had managed to remain profitable. “Over thelast four to five years, billing rates haven’t gone up drastically; neither have they come down. But wage inflation hasbeen there and companies have expanded. This shows Indian companies have sharpened their business focus,innovated, added employees and have still managed to maintain margins,” he said. Click here for index Visa interview waived for four more categories, says US envoyMore jobs for both Indians and Americans, energy security, women entrepreneurship and greater bilateral ties betweenthe two countries were some of the issues before the US Ambassador to India, Nancy J Powell.Announcing visa interview waiver for four categories of work visa including H1-B and L1-B, she told the members of theIndian Women’s Press Corp that ideal situation would be more jobs for both the US and India.A diplomat who is also a Libran she was true to her character, doing a balancing act while fielding questions. Gentle butfirm she said that the second stint of Obama Government, while bringing in continuity, would also reflect some changes.Tactfully, pre-empting any questions on visa, she said taking forward the Interview Waiver Program (IWP) launched inMarch, it has been decided to expand it to four more categories now.The following Indian applicants may also be considered for streamlined processing: children applying before their 14thbirthday travelling on any visa class, students returning to attend the same school and same program, temporaryworkers on H1-B visas, and temporary workers on Individual L1-A or Individual L1-B visas.The renewal application must be within the same classification as the previous visa. If the previous visa is annotatedwith the words “clearance received,” that applicant is not eligible for a waiver of a personal interview, a US Embassystatement said.Not all applications will be accepted for streamlined processing, the statement further said adding that “As always,consular officers may interview any visa applicant in any category. Applicants who are renewing their visas may still needto make an appointment for biometrics (fingerprint and photograph) collection, and all applicants must submit allrequired fees and the DS-160 application form.”N-DEALOn a question regarding the Indo-US Civil Nuclear Agreement, Powell said that there were some issues which need to besorted out. Powell said that India is yet to join some international agreements on trade in nuclear technology. A high-level team from the US will be in India to discuss on the issue soon. Powell hoped for an early resolution of all thecontentious issues on the subject. The private US companies were not comfortable with the way the current legislationimposed liability in the case of accidents.
  • 60. As regards to the free trade agreement (FTA) with India to allow export of shale gas from the US, she said that at presenta study is being undertaken by the US Government on how much shale gas the country has, what is the gas demand, andthe benefit and costs involved if exports were allowed. “By end of the year a clearer picture should emerge,” she saidadding that Indian companies will have to wait for the report before any deliberations on trade begins.At present only one project that of Indian company GAIL (India) for gas exports has been allowed. There are other twoprojects which are pending approvals, and their fate is dependent on the outcome of the study. Click here for index Indias Bold Solution to the U.S. College Crisis: Federal UniversitiesA system of national universities would fight the rise in tuition, accommodate millions of low-income and immigrant students, and boost national research spendingWhat if we could attack three major national challenges with one government program? That would be a major coup.And in fact, I have an idea for exactly such a program: A system of federal universities.Much has been written about the explosion in tuition at American universities. Actually, this rise has been exaggerated;much of the increase has been in the "sticker price" of college rather than the "net price," which is what studentsactually pay (need-based financial aid and merit-based scholarships make up the rest). Still, according to the CollegeBoard, the inflation-adjusted net price of public universities has gone up by over 30% in the last 15 years, while forprivate universities it has gone up by 22%. Those are not the enormous rises that have been advertised in the press, butthey are substantial. And much more worrying is the rise in student debt. Increasingly, students are paying for collegewith debt instead of with their parents money or with their own earnings. As a result, student debt increased by over500% from 1999 to 2011. If there is anything that recent economic history should teach us, it is that household debt is avery dangerous thing.So the price of college is high. And attendance has been growing, especially among Hispanics. When you have increasingprice and increasing quantity sold, Econ 101 tells you that what youre seeing is a shift in the demand curve. Lots morepeople want to go to college, and they are willing to pay more. The reason for the increase is not surprising -- its thecollege wage premium, combined with low unemployment among people with a college degree. No wonder everyonewants to hop on that gravy train, even if it means shelling out big bucks up front.And we can only expect demand to increase, especially if we do what we ought to do and let in a lot more high-skilledimmigrants. Those immigrants will be great for the economy, but their kids are going to be competing with native-bornkids for college spots. Unless we do something, that competition could cause a xenophobic backlash among the high-skilled native-born, as well as driving up tuition even further. What do you do when you have a big increase in demandfor a product? Well, if youre a company, you probably ramp up supply. That will increase quantity sold, and bring pricesdown. But how can the supply of college seats are increased?The private sector has had a devil of a time providing quality college education. Sorry, University of Phoenix, but youhavent managed to command the prestige of the University of Arizona. It may be that college is just something thatnonprofits are better positioned to provide than for-profit firms. Another effort to bring college to the masses is onlineeducation. This is more promising. But while online courses can be great for transferring specific skills (like coding), theyinherently cant provide many of the essential kinds of "human capital" offered by real, in-person college -- humannetworks, career ideas and perspective, one-on-one mentoring, and of course personal growth. It is no coincidencethat "college" comes from the word for "community."So heres my idea for increasing the supply of college: A system of federal universities. Currently, we have no suchsystem, but it is not unconstitutional. After all, the federal government runs the United States Military Academy at WestPoint. My idea is simple: The federal government provides start-up funding for a large number of new universities,offering attractive salaries to professors.Why federal universities instead of state universities? State spending is likely to focus on the existing state universitysystems. But that will have a limited impact on total college availability, for two reasons. First, increased state fundingfor existing universities may simply displace alumni funding or tuition funding. That could lower the net price of college,
  • 61. but would have a limited impact on enrollment. Second, there are many geographic areas that dont yet have eliteuniversities, or only have a few (Ohio comes to mind, as well as much of the Southwest and the Pacific Northwest).Federal universities could fill these gaps. Finally, its very difficult to coordinate policy between states, and if we want tocreate new universities on a large scale, only federal government can do it.WHERE FEDERAL UNIVERSITIES HAVE WORKED: INDIA AND JAPANFederal university systems have been very successful in other countries. One prime example is the Indian Institutes ofTechnology (IIT), a system of 16 engineering schools that have produced a startling number of superb graduates intechnical fields. The best IITs rival MIT and Caltech in quality. Another example is Japans federal university system. Topfederal universities such as Tokyo University, Osaka University, and Kyoto University rival the Ivy League in quality. The"proof of concept" is there.A system of national universities would (1) fight the rise in tuition, and (2) accommodate all those smart second-generation kids whose parents we should be recruiting to our country in droves. But it will also help the nation in a 3rdway by giving us an outlet for higher research spending. The U.S. has been spending less and less on R&D as apercentage of our GDP, even as R&D becomes more and more important. In part because of this, there are legions ofPhDs being forced to take private-sector jobs in which they have no expertise. These trends need to be reversed in orderto maintain Americas status as the leading technological nation. And a system of federal universities is the perfectvehicle to increase research spending and provide an outlet for all those PhDs.At this point, some of you may be rolling your eyes: "Another budget-busting federal program?" Well, as any chiefexecutive will tell you, it takes money to make money, and higher education is what America does best. A federaluniversity system is an investment in a key public good. But also, comfort yourself in the knowledge that federaluniversities will rely less and less on federal funding as time goes on - as they build up prestige and alumni networks, thefederal universities will eventually become self-funding nonprofits, much as our state universities are becoming. Federaluniversities are an idea whose time has come. Click here for index India an important strategic partner of US: Ami Bera Mr. Amerish B. "Ami" Bera is an American physician and the congressman-elect for Californias 7th congressional district.California-based physician Ami Bera, who created history by becoming only the third Indian-American to get elected tothe US House of Representatives, has termed India as an important strategic partner of the US.“I travelled to India. India is the worlds largest democracy, and one of the worlds largest economies. Its an importantstrategic partner to the US and the two countries have a history of collaboration on many regional and global issues,”the Congressman-elect said in an interview.
  • 62. Bera asserted that New Delhi should continue with its strategic partnership with Washington and the country shouldremain a market destination for US goods and services. On the state of affairs in his own country and the debate overoutsourcing of jobs to countries like India, Bera said lawmakers in Congress must first focus on rebuilding America,restoring economic foundation and sparking development of industries and good jobs that are not easily outsourced.“Next, we must strengthen our workforce, and eliminate tax loopholes that reward companies for sending jobsoverseas. Most critically, we must revamp our trade strategy. We need trade rules that help facilitate moving Americanproducts into new markets, creating jobs here. If done correctly, strengthening our trade relationship with India willcreate jobs here in America,” he said.47-year-old Bera is only the third Indian-American to have been elected to the US House of Representatives after DalipSingh Saundh in 1950 and Bobby Jindal in 2005. Click here for index FDI in retail will benefit consumers in India: Nancy PowellAllowing FDI in Indias retail market will benefit the Indian consumers and farmers, American Ambassador to India NancyPowell said."We see benefits for consumers in India, a much bigger impact will come to the producers, the farmers in particular, tothose who handle produce as they come out of the farms," Powell told journalists during an interaction at the IndianWomens Press Corps.Explaining the benefits of multi-brand retail, Powell said: "An incredibly high percentage, 40 percent of food, is lost inIndia due to the lack of cold storage, the lack of quick transportation. This is one of the very important benefits of multi-brand retail that they have brought across the world in improving the supply chain." "It has meant better prices formany of the producers, higher return as they do not lose as much between the farm and the store," said Powell, who isthe first woman US ambassador to India.On the controversy over foreign direct investment (FDI) in retail in India, Powell said: "Obviously it is a political issuehere... how you work with the kiranas, the smaller traders but, it is also a recognition that not everybody is going to a bigstore, you will continue to have variety of retail outlets partially due to transportation. This will continue to be part ofyour political debate but we are very pleased to see it coming to India.""I think multi-brand retail is something which has been very controversial in my part of the US. When Wal-Mart came,we saw some very familiar debates which I now read in the Indian newspapers," she said. "As we worked at the impactof multi-brand retail on consumers, we found it provides consumers more selections of goods and services to choosefrom and at lower prices and fresher products," she added.The Left parties want a debate and vote on FDI in the winter session of parliament starting November 22. The BharatiyaJanata Party (BJP) has also said that the party will oppose FDI and coordinate with the National Democratic Alliance(NDA) constituents and other opposition parties on the issue. Click here for index After Atlanta, India now working to open Consulate in SeattleIndia has renewed its bid to establish a consulate in the US city of Seattle - the home of Boeing and Microsoft -- now thatit’s latest diplomatic post in Atlanta is operational.The Indian Embassy in Washington while floating its tender for outsourcing of visa and passport services has toldprospective bidders to be ready to set up their facilitating centers in Seattle (when notified) along with other Indiandiplomatic missions in the US - Washington DC (where the Embassy is located) and five Consulates in New York, Chicago,San Francisco, Houston and Atlanta.
  • 63. It is understood that while the State Department has given the approval in principal, necessary clearance for establishingthe Seattle Consulate is yet to come. Indian officials would not comment as to when they expect the Seattle Consulateto start functioning, but the US has termed it as a positive sign in the growing partnership between the two countries."The Department of State considers the Government of Indias desire to open new consular posts in the United States asa positive sign in the growing partnership between our countries," Emily Horne, spokesperson of the Bureau of Southand Central Asian Affairs of the State Department, told recently. The decision to establish Indian Consulate inAtlanta and Seattle was taken in October 2008 during the meeting of the then US President George Bush and PrimeMinister Manmohan Singh.According to a State Department statement issued in January this year, on August 20, 2010, the Department informedthe Government of India that it could open a consulate in either Atlanta or Seattle. "On February 25, 2011, theGovernment of India informed the Department that it had chosen Atlanta as the site of its new consulate. The openingof consulates is governed by principles of reciprocity," it said.The State Department said it continues to review the necessity of additional diplomatic missions in India given theincrease in relationship between the two countries. "The State Department constantly evaluates our diplomaticpresence and footprint around the world. As the number of American citizens, business, and visa applicants keepsgrowing abroad we are of course examining how best we can furnish services to them," Horne said. "In view of Indiasrise and our burgeoning strategic and economic partnership, we recognize Indias growth into one of the top threeglobal economies, further necessitating ongoing, careful review of this kind," she said. Click here for index Stanford B-school to start course in India The part-time certificate programme for entrepreneurs will be launched from July 2013Stanford Graduate School of Business is looking to kindle the innovative mindset of students by launching new coursesfor entrepreneurs across the world, with support from Silicon Valley experts. The institute will soon launch StanfordIgnite, a part-time certificate programme for Indian entrepreneurs in Bangalore. To be launched in 2013, the theme ofthe course will be entrepreneurship and innovation.The highlight is that Silicon Valley professionals would be a part of this endeavor, guiding prospective start-upentrepreneurs in their endeavors.Stanford Ignite is an eight-week, part-time programme that teaches innovators how to formulate, develop, andcommercialize their ideas. Participants will learn core business skills and experience working with a team to evaluate anddevelop ideas into a business plan. INDIA ON RADAR • Stanford Ignite, a part-time certificate programme for Indian entrepreneurs, would be launched in Bangalore • To be launched in 2013, the theme of the course will be ‘entrepreneurship and innovation’ • Silicon Valley professionals would be a part of this endeavor, guiding prospective start-up entrepreneurs in their endeavors • Online application will be available January 2013 • The fee for the course would be approximately Rs 4.5 lakh ($8,350) • Stanford has also launched an online Innovation and Entrepreneurship Certificate Programme • Professionals in India and around the world will be able to access Stanford faculty and Silicon Valley experts as they learn essential skills and effective strategies for working in and managing innovative organizations
  • 64. Online application will be available from January 2013. Candidates should either be enrolled in masters, post-doctoratestudents studying non-business fields or professionals with a bachelor’s or equivalent degree from an accreditedinstitution. The programme is intended for those who don’t have a graduate business training.Apart from Stanford Graduate School of Business faculty, prominent executives and corporate, venture, and angelinvestors would participate as guest speakers, expert panelists and business mentors to provide candid feedback onteam projects. Slated to begin from July 2013, the fee for the course would be approximately Rs 4.5 lakh ($8,350).Stanford has also launched an online Innovation and Entrepreneurship Certificate Programme. Professionals in India andaround the world will be able to access Stanford faculty and Silicon Valley experts as they learn essential skills andeffective strategies for working in and managing innovative organizations. An engaging digital experience has beendeveloped by the Stanford Center for Professional Development at the School of Engineering and the Graduate School ofBusiness to deliver the course content. Registration is now open for the first two courses, Marketing Innovations andLeading Innovation. The fee for each course would be approximately Rs 54,000 ($995).Additional courses will be launched throughout 2012 and 2013. Participants may enroll in just a single course or earn theprofessional certificate from Stanford by completing any eight of 12 courses on topics including prototyping, marketing,social media, innovation strategy, and entrepreneurship.The programme is led by faculty directors Robert Sutton, a professor of management science and engineering at theSchool of Engineering, and Hayagreeva Rao, professor of organizational behavior and human resources at the GraduateSchool of Business. Courses will be taught by Stanford faculty, drawing on instructors from the graduate school ofbusiness, the engineering school, the Hasso Plattner Institute of Design, as well as Silicon Valley industry leaders, usinginteractive methods.Garth Saloner, dean, Stanford Graduate School of Business, said, “Online education is a big aspect for us. Though itcannot be a substitute for classroom learning, it is a good opportunity for people who cannot come to Stanford for theireducation.” Going forward, Stanford Graduate School of Business will look at offering blended programmes, with onlinecomponents being a part of it.According to Saloner, innovation and entrepreneurship will be an essential component of the courses. Entrepreneurialmindset is evident among students with about one in six students opting to start his/her venture, rather than joining acompany.According to the dean, Stanford Graduate School of Business, students stand to gain as the innovation moves into SiliconValley. “We help students take their ideas into the Valley,” he said. Indian students opting for the online course and theoffline course in Bangalore will receive the expertise from Silicon Valley, he added. Then, there is the Stanford VentureStudio for entrepreneurs. Built as a pilot during the summer, and launched in September, it is a collaboration spacewhere entrepreneurial Stanford graduate students practice the skills and concepts they are learning in the classroom. Inaddition to a robust work and collaboration space, the Studio provides a place for a number of programmes thatcomplement classroom learning and help students practice supporting each other in designing and leading newventures.Talking about the entrepreneurial ventures in India, Saloner said that India could improve its entrepreneurial aspirationsby improving institutional elements like legal efficacy, infrastructure growth and fund availability. "The key is also havinga culture that permits acceptance of failure,” he said.Stanford Graduate School of Business also has links with corporate alumni in India, who partner the institute in variousinitiatives. Executive education is offered to Indian corporates by Stanford, both at their US campus and in offices ofcorporates in India. Reliance Industries Limited (RIL) has an initiative to fund students going to Stanford Graduate Schoolof Business.RIL created the Reliance Dhirubhai Fellowship to support Indians with financial need in obtaining an MBA at Stanford,which may award up to five fellowships. The fellows will receive full financial support for the two-year MBA programme.
  • 65. Within two years of completing their Stanford MBA studies, Reliance Dhirubhai Fellows are required to return to Indiafor a period of at least two years employment in the public or private sector.“We look to strengthen the existing partnerships with corporates like RIL and also forge new ones,” the dean said.Saloner said Stanford Graduate School of Business was looking at opening up a branch office in India. Stanford GraduateSchool of Business has students from 54 nations. Click here for index The Shale Gas Revolution in America: An Opportunity for IndiaGood news is seldom expected in the worlds hydrocarbon economy and the shale gas boom in North America followsthat trend. The rise of this unconventional source of natural gas has created a situation whereby the United States (US)may become a net exporter of the same by 2016 thereby opening up a hitherto unexpected source of supply for gas-hungry countries such India. India, which is increasingly dependent on liquefied natural gas (LNG) imports to bridge thedomestic demand-supply gap, needs to diversify imports away from volatile regions and oil indexed contracts. Howeverat the moment the US allows permit-less exports of domestic natural gas to only those countries with which it has a freetrade agreement (FTA) and this is proving to be a significant hurdle for Indian majors looking to source from the USmarket.The changed scenario can be gauged by the fact that till even 2006 most analysts were predicting that the US wouldhave to continue to depend on imports till at least 2030. Accordingly some 10 LNG re-gasification terminals (import)came up mainly along the eastern seaboard of the US. Circa 2012 however, the Energy Information Administration (EIA)projects that US domestic production ( which already covers 94 per cent of consumption) will rise some 29 per cent by2035 with more than half of the projected increase coming from shale gas plays which already account for a quarter ofannual output. Shale output currently accounts for around 25 per cent of total natural gas production in the US and hascreated a situation where US working reserves are at a five year high with storage having become an issue.This greatly increased availability of natural gas from unconventional sources in the US has of course led to a dip in gasprices. The Henry Hub, which is the main US gas benchmark traded on NYMEX has consistently recorded around the $3per million British thermal units (mmbtu) for the past few months.To put this in perspective, Asian LNG cargoes ex-ship has been delivered at up to $18 per mmbtu after the nuclearshutdown in Japan post-Fukushima. Clearly a time has arrived where suppliers in the US will be increasingly looking atglobal markets to take advantage of arbitrage opportunities. Even today, 67 per cent of the LNG imported by theterminals at Cameron, Sabine Pass and Freeport are being re-exported (re-exports to non FTA countries require USFederal Energy Regulatory Commission approval) by them in 2011.However, LNG import terminal operators in the US are now looking beyond merely the right to re-export and want tosecure approval for exporting domestic LNG to non-FTA countries. Ten such proposals are currently pending with theFERC with only Sabine Pass having been approved in April this year. These approvals are essentially for siting liquefactionfacilities at existing import terminals and would require substantial investment (typically over 1000 dollars per tons perannum) as well as producer commitments.Now even as the US turns a net exporter of natural gas, the situation is unfortunately not as rosy for India. Lacklustreproduction from highly touted estates such as the Krishna Godavari (KG-D6) field means that India has to increasinglyturn towards LNG imports. Demand by 2014-15 will touch 356.16 million mmscmd and will rise further to 473 mmscmdin 2017-18 at a compounded annual growth rate of 19.5 per cent for the next five years. Domestic production willunfortunately only yield about 240 mmscmd by that time. Anticipating this, heavy investment is being made into LNG re-gasification terminals and Indias total LNG re-gasification capacity seems poised to rise from 13.5 million tonnes perannum (mtpa) currently to 48 mtpa by 2017-18.Naturally given the projected import requirements India is now on the lookout for cheaper gas. Unfortunately in theabsence of a true worldwide liquid spot market for natural gas its price varies across regions typically being indexed tothe price of crude in long term contracts. For instance Indias current LNG suppliers such as Qatars RasGas charge 12.67per cent of Japan Customs-Cleared Crude (JCC) and Petronet LNG pays a further 0.26 US dollars per mmbtu for shipping
  • 66. and that translates into 12.93 US dollars per mmbtu at current JCC prices. What is more RasGas is apparently demandingthat the indexation be increased to 14 percent.It is not surprising therefore that Indian majors such as GAIL are increasingly attracted to the US where Henry Hub linkedsupplies are becoming available. GAIL has for instance sewn up a contract with Houston-based Cheniere Energy PartnersLP (CQP)s to source 3.5 million tons of LNG a year for twenty years from Sabine Pass - the only terminal approved toexport LNG to non-FTA countries. GAIL will pay a capacity charge between 2.5 dollars-3 dollars + 115 per cent markup onHenry Hub per mmbtu. So if we assume 3 dollars as the Henry Hub price this means that GAIL will pay 8.95 dollars - 9.45dollars per mmbtu under this deal and that is better than what any Indian importer is paying at the moment. This dealinvolves gas being made available from GAILs upstream investment in Eagle ford shale where it has a 20 per cent stakebought from Carizzo Oil & Gas Inc thereby ensuring that Indian investment in shale fields actually leads to that gasreaching Indian shores.Unfortunately as GAIL and other Indian majors such as ONGC look to pursue similar deals with other LNG terminaloperators in the US they are thwarted by the fact that FERC approval for non-FTA exports is still pending for most ofthese terminals as pointed out above. Getting an approval for setting up liquefaction facilities at an LNG import hub is anarduous process and requires public hearings conducted by the FERC under Section 3 of the US natural gas act and mustbe deemed to be in the national interest of the US. Such approvals can take up to three years judging by the example ofTexas Freeport and if you add another three and half years as the typical lead time for building a liquefaction train onebegins to understand that more LNG import deals with US companies are some distance away.Japan has already indicated that it cant wait that long and wants a FTA waiver now given that most of its reactors arestill shutdown post Fukushima and it needs gas for substitute power generation. India should demand the same giventhat Indian companies have demonstrated that they are willing to make substantial investments both upstream anddownstream in the US gas sector- something that US producers clearly need, to keep riding this boom.Today, we are faced with a lopsided situation where LNG hungry but non-FTA countries such as India and Japan areunable to automatically source domestic US LNG while, gas rich countries many of whom already have an FTA in placewith the US can actually use this fact to lock in future US supplies for greater cartelization in natural gas markets!Meanwhile another option that can be pursued is to route gas via Canada (which already has an FTA with the US) byinvesting in the LNG import terminal at Saint John, New Brunswick and add liquefaction facilities. Saint John is ratherclose to the giant Marcellus shale play in the north-eastern US with two gas pipelines crossing the US-Canada border inthe vicinity. Such a move would also require clearance from Canadas National Energy Board although this couldprobably be secured relatively quicker.Be that as it may a recent study by the EIA projects only a 54 per cent rise in US wellhead gas prices over a 20 yeartimeframe beginning 2015 in a worst case scenario of rapidly growing exports and lower than expected reserves coupledwith a strong US economic rebound. Even in this unlikely situation Henry Hub linked LNG imports from America willprobably be cheaper than Asian LNG contracts and US policy makers could realize that a win-win US-India energypartnership in gas might just be in the offing.
  • 67. Forthcoming EventsCalendar of IACC Events for 2012 Date/ Time Event/Topic Hotel/City/Information November 23, 2012 “Members Networking Nite” Sheraton Park Hotel & Towers, TTK Register Now or Read more Road, Alwarpet, Chennai, India November 24, 2012 IACC Thanksgiving The Taj West End, Bangalore, India December 05, 2012 IACC in Association with IMC & Walchand Hirachand Hall, 4th Floor, NASSCOM Present an Interactive Indian Merchants Chambers ( IMC), Session on B1/B2 (Business and Churchgate ,Mumbai, India Tourism) and GSS (new visa processing system) Read more December 06-08, 2012 IACC Supports International ITC Maratha Hotel, Mumbai, India Taxation Conference 2012 Read more December 06, 2012 IACC-Kerala jointly with The P.V. Samy Memorial Hall, The Malabar Malabar Chamber of Commerce Chamber of Commerce, Calicut, India will be organizes an Interactive Session on ‘US Visa’ addressed by Mr. Gaetan W. Damberg-Ott and Mr. Benjamin S. Embury, Consular Officers from the U.S. Consulate, Chennai December 10-11, 2012 IACC supports Global Aerospace Hotel Chancery Pavillion, 135, Residency Industry Meet in Bangalore Road, Bangalore, India Read more December 11, 2012 A Joint program on ‘U.S. Visa MP Hall, Infopark, Kochi , India Procedures’ by Ms. Heather M. Smith, Chief of the Consular Information Unit, U.S. Consulate, Chennai in association with Infopark-Kochi. December 14, 2012 IACC-Gujarat Branch jointly Cambay Grand, Hall - Royal Tulip, Near organizes a programme on “SME PERD Centre, Ahmedabad, India SUMMIT 2012” followed by Cocktail & Dinner December 18 , 2012 Breakfast meeting “Meet Success Hotel Vivanta by Taj-Connemara, Binny First Hand” Road, Chennai, India Click here for index
  • 68. Indo-US Trade Statistics 2012: U.S. Trade in Merchandise goods with India Month U.S Exports to India U.S Imports from India Balance of Trade January 2012 1,524.60 3,109.80 -1,585.20 February 2012 1,503.70 3,027.60 -1,523.90 March 2012 1,715.80 3,364.40 -1,648.60 April 2012 1,792.20 3,335.50 -1,543.20 May 2012 1,832.30 3,571.80 -1,739.50 June 2012 1,809.00 3,466.60 -1,657.60 July 2012 1,785.90 4,132.20 -2,346.30 August 2012 2,082.80 3,929.40 -1,846.60 September 2012 2,220.40 3,327.70 -1,107.30 Total 2012 16,266.7 31,265.00 -14,998.2 2011: U.S. Trade in Merchandise goods with India Month U.S Exports to India U.S Imports from India Balance of Trade January 2011 1,352.6 2,524.4 -1,171.7 February 2011 1,440.7 2,229.4 -788.7 March 2011 1,735.8 3,164.6 -1,428.8 April 2011 1,875.8 3,253.4 -1,377.5 May 2011 1,996.4 3,468.8 -1,472.4 June 2011 2,076.0 3,295.5 -1,219.5 July 2011 1,812.7 3,116.9 -1,304.2 August 2011 1,847.8 3,362.0 -1,514.2 September 2011 1,726.0 3,108.5 -1,382.5 Total 2011 15,863.80 27,523.50 -11,659.50 October 2011 1,716.4 3,289.3 -1,572.8 November 2011 1,953.6 2,721.8 -768.2 December 2011 1,967.4 2,618.4 -651.0 Total 2011 21,627.6 36,167.4 -14,539.8 Click here for index
  • 69. India – US Trade AnalysisTrade and commerce form a crucial component of the rapidly expanding and multi-faceted relations between India andUS. From a modest $ 5.6 billion in 1990, the bilateral trade in merchandise goods has increased to $ 57.8 billion in 2011representing an impressive 932.14% growth in a span of 21 years.India’s merchandise exports to the U.S. grew by 13.59% from $ 27.52 billion during the period January- September 2011to $ 31.26 billion in January- September 2012. US exports of merchandise to India grew by 2.54% from $ 15.86 billionduring the period January – September 2011to $ 16.27 billion in January –September 2012. India – U.S. bilateralmerchandise trade stands at $ 47.53 billion during this period. Trade during the period January – September 2012i) Major items of export from India to USSelect major items with their percentage shares, are given belowa) Textiles (15.2%)b) Precious stones & metals (16.9%)c) Pharmaceutical products (9.9%)d) Mineral Fuel, Oil (8.2%)e) Lac, Gums, Resins (10.1%)f) Organic chemicals (5.4%)g) Machinery (5.3%)h) Electrical Machinery (3.7%)ii) Major items of export from US to IndiaSelect major items with their percentage shares, are given belowa) Precious stones & metals (24.2%)b) Machinery (12.5%)c) Mineral fuel, Oil, etc. (8.4%)d) Optical instruments & equipment (6.5%)e) Electrical machinery (6.2%)f) Aircraft and parts (5.1%)g) Organic chemicals (4.1 %)h) Plastic Products (3.4%) Click here for index
  • 70. International Trade shows US Department of Commerce Certified Trade shows in U.S.A Event Name Date & Location Contact Details POWER-GEN International 2012 - 12/11/2012 - 12/13/2012 Mark Wells, Trade Event - multiple industry sectors Orlando, FL, United States Programs Senior International Trade Specialist Phone: (202) 482-0904 Mark.Wells@trade.gov 2013 International CES -- 1/8/2013 - 1/11/2013 Shelby Peterson, Trade Event multiple industry sectors Las Vegas, NV, United States Programs Business and Industry Specialist Phone: 202-482-5531 Shelby.Peterson@trade.gov IBP Select: ProMat 2013 1/21/2013 - 1/24/2013 Aditi Palli, Trade Event Programs (Material Handling Industry of Chicago, IL, United States International Trade Specialist America) -- multiple industry Phone: 202-482-3334 sectors Aditi.Palli@trade.gov Gary Rand, Marketing Director Phone: 202-482-0691 Gary.Rand@trade.gov NAHB International Builders 1/22/2013 - 1/24/2013 James Yi, TPP Show 2013 -- multiple industry Las Vegas, NV, United States International Trade Specialist sectors Phone: 2024826482 James.Yi@trade.gov
  • 71. IBP Select: PGA Merchandise 1/23/2013 - 1/26/2013 David Fiscus, Salt Lake CityShow 2013 -- multiple industry Orlando, FL, United States USEAC Directorsectors Phone: 801-255-1873 David.Fiscus@trade.gov Gary Rand, Marketing Director Phone: 202-482-0691 Gary.Rand@trade.gov Tony Pu, Trade Event Programs International Trade Specialist Phone: 2024820905 Tony.Pu@trade.govAG CONNECT Expo & Summit 1/29/2013 - 1/31/2013 Mark Wells, Trade Event2013 -- Agricultural Machinery & Kansas City, MO, United States ProgramsEq. Senior International Trade Specialist Phone: (202) 482-0904 Mark.Wells@trade.gov Barkha Limbu, Association of Equipment Manufacturers Phone: (414) 298-4169 blimbu@aem.orgInternational Poultry 1/29/2013 - 1/31/2013 Amanda Ayvaz, Trade EventExpo/International Feed Expo Atlanta, GA, United States Programs2013 -- multiple industry sectors International Trade Specialist Phone: 202-482-0338 Amanda.Ayvaz@trade.govWorld of Concrete 2013 -- 2/5/2013 - 2/8/2013 Graylin Presbury, Trade Eventmultiple industry sectors Las Vegas, NV, United States Programs Senior International Trade Specialist Phone: 202-482-5158 Graylin.Presbury@trade.gov Jackie James, Hanley Wood Exhibitions Phone: 972-536-6372 jjames@hanleywood.com
  • 72. IBP Select: Miami International 2/14/2013 - 2/18/2013 Gary Rand, MarketingBoat Show & Strictly Sail 2013 -- Miami, FL, United States Directormultiple industry sectors Phone: 202-482-0691 Gary.Rand@trade.gov James Yi, TPP International Trade Specialist Phone: 2024826482 James.Yi@trade.govGraphics of the Americas 2013 -- 2/21/2013 - 2/23/2013 Philippa Olsen, MarketingPrinting/Graphic Arts Eq. Orlando, FL, United States Business and Industry Specialist Phone: 202-482-5449 Philippa.Olsen@trade.gov Click here for index
  • 73. International Buyer Program, 2013 Trade shows International Buyer Program 2013 Trade Show Schedule Title Date Venue Website2013 International CES® January 8-11, 2013 Las Vegas, NV cesweb.orgNAHB International January 22-24, 2013 Las Vegas, NV buildersshow.comBuilders Show®AG CONNECT Expo 2013 January 29-31, 2013 Kansas City, MO agconnect.comInternational Poultry January 29-31, 2013 Atlanta, GA internationalpoultryexposition.orgExpo/International FeedExpoWorld of Concrete® February 5-8, 2013 Las Vegas, NV worldofconcrete.comGraphics of the Americas February 21-23, 2013 Orlando, FL graphicsoftheamericas.com(GOA)International Home + March 2-5, 2013 Chicago, IL housewares.orgHousewares ShowNatural Products Expo March 7-10, 2013 Anaheim, CA expowest.comWest/EngredeaThe Nightclub & Bar March 19-21, 2013 Las Vegas, NV ncbshow.comConvention and TradeShowThe 2013 NAB Show® April 8-11, 2013 Las Vegas, NV nabshow.comWINDPOWER 2013 May 5-8, 2013 Chicago, IL windpowerexpo.orgConference & ExhibitionOffshore Technology May 5-9, 2013 Houston, TX otcnet.orgConferenceWasteExpo 2013 May 20-23, 2013 New Orleans, LA wasteexpo.comInternational CTIA May 21-23, 2013 Las Vegas, NV ctiawireless.comWIRELESS 2013®The National Restaurant May 2013 Chicago, IL restaurant.org
  • 74. Association Restaurant,Hotel-Motel Show (NRAShow)InfoComm International June 8-14, 2013 Orlando, FL infocommshow.org2013®International Franchise June 14-16, 2013 New York, NY ifeinfo.comExpoFancy Food Show June 30 - July 2, 2013 NY, NY specialtyfood.com/fancy-food- showAnnual Meeting and July 28 - August 1, 2013 Houston, TX aacc.orgClinical LaboratoryExposition of theAmerican Association forClinical ChemistryMAGIC Tradeshow - August 21-23, 2013 Las Vegas, NV magiconline.comSummerPRINT 13 September 6-11, 2013 Chicago, IL gasc.org/PRINT13.aspxPACK EXPO Las Vegas September 23-25, 2013 Las Vegas, NV packexpo.com2013RETECH 2013 September 2013 To Be Announced retech2012.comGridWeek 2013 October 1-3, 2013 Washington, DC gridweek.comWEFTEC 2013 Water October 5-9, 2013 Chicago, IL weftec.orgEnvironment FederationTechnical Exhibition andConferenceInternational Baking October 6-9, 2013 Las Vegas, NV ibie2013.orgIndustry Exposition (IBIE)IFAI Expo Americas 2013 October 23-25, 2013 Orlando, FL ifaiexpo.comand SGIA Expo 2013American Film Market November 6-13, 2013 Santa Monica, CA americanfilmmarket.comPOWER-GEN International November 12-14, 2013 Orlando, FL power-gen.comGreater New York Dental November 29 - New York, NY gnydm.comMeeting December 4, 2013 Click here for index
  • 75. US Department of Commerce Certified Trade shows in IndiaEvent Name Date & Location Contact DetailsU.S. Pavilion at ICE Expo 2012 12/3/2012 - 12/5/2012 Renie.Subin@trade.gov New Delhi, India Richard.Craig@trade.govInternational Housewares 12/3/2012 - 12/5/2012 Aliasgar.Motiwala@trade.govAssociation Delegation Mumbai , IndiaU.S. Pavilion at IMME 2012 12/5/2012 - 12/8/2012 Arup.Mitra@trade.gov Kolkata, IndiaIndia Cold Chain 2012 -- multiple 12/4/2012 - 12/5/2012 Richard Craig, Kolkataindustry sectors New Delhi, India Principal Commercial Officer Phone: 91-33-3984-6435 Richard.Craig@trade.gov Aliasgar Motiwala, Mumbai Commercial Specialist Phone: 91-22-2265-2511 aliasgar.motiwala@trade.gov
  • 76. Indian Buyer Delegation to 12/11/2012 - 12/13/2012 Renie.Subin@trade.govPower-Gen International Orlando, FLSATTE 2013-- Travel and Tourism 01/16/2013- 01/18/2012 in Helen Simpson-Davis, TradeIndustries New Delhi Event Programs Senior International Trade 01/21/2013- 01/22/2012 in Specialist Mumbai Phone: 202-482-1882 Helen.Simpson-Davis@trade.gov P Srinivas, Mumbai Senior Commercial Specialist Phone: 91-22-2672-4152 P.Srinivas@trade.gov Sandeep Maini, New Delhi Senior Commercial Specialist Phone: 91-11-23472222 Sandeep.Maini@trade.gov Sajid Desai, UBM India Pvt. Ltd Phone: 91 22 6612 2600 sajid.desai@ubm.comU.S. Multi-Sector Trade Mission 02/03/2013- 02/08/2013 Mala Venkat, Commercialto the “3Cs” in S. India & Sri Chennai, Cochin SpecialistLanka U.S. Commercial Service American Consulate General 220 Anna Salai Chennai 600 006 Tel: 91-44- 2857-4293 Mala.Venkat@trade.gov
  • 77. Bauma Conexpo Show 02/05/2013- 02/08/2013 P.Srinivas@trade.gov MumbaiAero India 02/06/2013- 02/10/2013 Leonard.Roberts@trade.gov BangaloreISN Education Fair 02/22/2013 Sathya.Prabha@trade.gov Hyderabad Major Trade shows in India Date/ Event Venue/Location Description/ Contact 4 Dec- 5 Dec 2012 India Cold Chain Expo Ashok Convention Centre, New Delhi, India 5 Dec- 7 Dec 2012 Bangalore Nano Hotel Lalit Ashok, Bengaluru, Karnataka, India6 Dec- 7 Dec 2012 Indian Petrochemical Focus Hyatt Regency, Mumbai.6 Dec- 7 Dec 2012 Exporail India Pragati Maidan, New Delhi, India07 - 10 December 2012 Food Technology Show India Expo Centre and Mart, Greater Noida, India
  • 78. 7 Dec- 9 Dec 2012 India Med Expo Birla Auditorium, Jaipur, Rajasthan, India07 - 10 December 2012 Pharma Technology Show - India Expo Centre and Mart, Greater Delhi Noida, India07 - 09 December 2012 International Industrial Expo & Rishikul Ground, Haridwar, India Conferences Haridwar12 December 2012 Mutual Fund Summit Hotel Le Meridien, New Delhi, India12 Dec-13 Dec 2012 International Conference & Veterinary College, Bikaner, Rajasthan, Exhibition on Ceramics India13 Dec-14 Dec 2012 Retail Banking India Summit The Leela Kempinski Mumbai, Mumbai, Maharashtra, India13 Dec-14 Dec 2012 GroSolar 2012:National Solar Convention Centre-NDCC, New Delhi, Energy Summit(NSES) Delhi, India13 Dec-15 Dec 2012 Isrmax India Indian Agricultural Research Institute Campus, New Delhi, Delhi, India13 Dec-15 Dec 2012 International Paper Exhibition Bombay Exhibition Center(BEC), Mumbai, Maharashtra, India14 Dec-16 Dec 2012 LED Expo Delhi Pragati Maidan, New Delhi, Delhi, India16 Dec-18 Dec 2012 BizTech expo TIMA Ground, Boisar, Maharashtra, India19 Dec-23 Dec 2012 VYAPAAR Mascot Hotel (KTDC), Trivandrum, Kerala, India21 Dec-23 Dec 2012 Building Materials Expo Chennai Trade & Convention Centre, Chennai, Tamil Nadu, India21 Dec-23 Dec 2012 Power On Milan Mela Complex, Kolkata, West Bengal, India23 Dec-26 Dec 2012 Agri Talk India Shastri Maidan, Rajkot, Gujarat, India8 Jan-13 Jan 2013 Vibrant Future Cities Helipad Ground, Gandhinagar, Gujarat, India8 Jan-13 Jan 2013 HYPER EXPO Mahatma Mandir Exhibition Centre, Gandhinagar,India10 Jan-12 Jan 2013 Food Hospitality World - MMRDA Exhibition Center, Mumbai, Mumbai Maharashtra, India11 Jan-13 Jan 2013 International Flora Expo New NSIC Exhibition Complex, New Delhi, Delhi Delhi, India
  • 79. 16 Jan-18 Jan 2013 India Electricity Pragati Maidan, New Delhi, Delhi, India16 Jan-18 Jan 2013 Convergence India Pragati Maidan, New Delhi, Delhi, India15 Jan-18 Jan 2013 Pharma World Expo Bombay Exhibition Center(BEC), Mumbai, India15 Jan-18 Jan 2013 CHEMTECH WORLD EXPO Bombay Exhibition Center(BEC), Mumbai, India17 Jan-19 Jan 2013 TECHNOTEX INDIA Pragati Maidan, New Delhi, Delhi, India17 Jan-19 Jan 2013 IBEX INDIA Bandra Kurla Complex, Mumbai, Maharashtra, India18 Jan-20 Jan 2013 The Economic Times ACETECH- Palace Grounds, Bengaluru, Karnataka, Bangalore India23 Jan-26 Jan 2013 Elektrotec CODISSIA Trade Fair Complex, Coimbatore, Tamil Nadu, India25 Jan-28 Jan 2013 Industrial Expo Ankleshwar Gopal Nagar Bus Stand, Ankleshwar, Gujarat, India1 Feb- 2 Feb 2013 Educational Infrastructure & Nehru Centre, Mumbai, Maharashtra, Utilities Expo India1 Feb- 3 Feb 2013 India Automation Technology Bombay Exhibition Center(BEC), Mumbai, Fair Maharashtra, India Click here for index Major Trade shows in U.S.AEvent Name & Date Event Description Event Venue/Location detailsThe International Workboat The International Workboat Ernest N Morial ConventionShow Show occupies the pride of Center, New Orleans, United place as the biggest marine States Of America05 - 07 December 2012 industry-related trade event in North America. The event offers considerable opportunities to participating business houses to strengthen their business networks, and get familiar with the latest tools and technologies that are being used in this sector
  • 80. International Gem & Jewelry International Gem & Jewelry Donald Stephens ConventionShow – Chicago Show - Chicago is one of the Center, Chicago, United States Of prestigious jewelry fair which is America07 - 09 December 2012 scheduled to be held at Chicago. This show showcases a wide range of loose gems and finished branded showpieces which are crafted by the renowned designers and have exclusive designs on them.Power Gen International Power Gen International is one Orange County Convention of the most professionally Center (OCCC), Orlando, United11 - 13 December 2012 organized trade shows in the States Of America United States, dedicated exclusively to the power generation sector. The show is held at the Las Vegas Convention Centre and boasts of more than 19000 visiting participants at each of its editions.Anti-Aging Conference & Anti-Aging Conference And Las Vegas Venetian Resort HotelExhibition-Las Vegas Exhibition is one of the top Casino, Las Vegas, United States health and medicine trade Of America12 - 15 December 2012 shows in America. The show focuses on the anti-aging sector and is attended by a large number of leading industry experts, including cardiologists, osteopaths, plastic surgeons and chiropractorsAccessories The Show-New Accessories The Show New Jacob K. Javits ConventionYork York is one of the chief fashion Center, New York, United States apparel sector trade shows in Of America06 - 08 January 2013 the United States. The show is attended by several top experts from this sector and the latest, trendy design patterns and color themes are highlighted here. More than 1400 varieties of chic and stylish apparels are showcased during the show and
  • 81. participating companies are offered lucrative business networking opportunities too.FAME FAME is one of the top fashion Jacob K. Javits Convention apparel and accessories sector Center, New York, United States06 - 08 January 2013 trade show in America. Held Of America over a period of three days at New York, the show presents ample scopes for all participants to get acquainted with the latest market trends and happening styles from this sector.Accessorie Circuit Accessorie Circuit is one of the Jacob K. Javits Convention prime fashion apparel and Center, New York, United States06 - 08 January 2013 accessories sector trade show Of America in the United States. The show is attended by more than 500 professional exhibiting companies and a wide range of dress items, handbags, scarves; trendy jewelry products and other lifestyle items are put on exhibit during the event.International Consumer International Consumer Las Vegas Convention Center, LasElectronics Show Electronics Show is one of the Vegas, United States Of America best electronic shows in USA08 - 11 January 2013 which is organized by CEA industry. A lot of visitors are supposed to be participating in this leading International show and Convention from different parts of the country as well as from abroad.PMA International Convention PMA International Convention Las Vegas Hilton, Las Vegas,& Trade Show And Trade Show is one of the United States Of America prime photography and related08 - 11 January 2013 technology sector business events in the United States. The show is attended by more than 550 professional exhibitors and a diverse range of cameras, photo software,
  • 82. digital imaging tools; photo publishing equipment’s are put on exhibit here, together with a host of other associated items.World Shoe Accessories World Shoe Accessories (WSA) Sands Expo & Convention is the largest and most Center, Las Vegas, United States29 - 31 January 2013 comprehensive footwear and Of America related accessories show in the world. Since 1948 it is offering a 360-degree viewpoint of the footwear industry. Its twice- yearly show in Las Vegas pulls in more than 36,000+ participants and nearly 1,000 exhibitors from across the world that represent the cream of the footwear manufacturing industry. Click here for index
  • 83. How to reach us:We invite articles, industry related market research reports and whitepapers, information on policy matters related toIndo-US trade and investments via e-mail. Indo-American Chamber of Commerce (IACC) deserves right to edit the saidarticles for clarity and space and use them in all electronic and print form.E-mail: rkc@iaccindia.com; pratik@iaccindia.comDisclaimer:No part of this newsletter may be reproduced, reprinted or utilized in any form or by any means electronic ormechanical without prior permission of the publisher. While every care is taken in compilation of information containedherein, the publisher cannot accept any responsibility for error or omission or for the use of trademark, copyrights,brand name, logos or other identifying symbols provided in supporting and participating companies and organizations.However all possible and reasonable care has been taken to ensure that the information in this newsletter is as accurateand up-to-date at the time of printing. This newsletter is for internal use only.Credits:A number of persons and organizations have assisted us in the preparation of this newsletter. The information containedherein has been obtained from sources believed to be reliable and are based on research and analysis, whitepapers,academia, websites, internet postings and e-mails received. We wish to thank and express our gratitude to everyonenamed and unnamed for providing valuable inputs and providing data willingly.Conceived, Designed and Researched by:R.K. Chopra, Secretary General, IACC; E-mail: rkc@iaccindia.comPratik Waghela, Systems & Communications Assistant, IACC; E-mail: pratik@iaccindia.com Click here for index Get Social with the Only Bilateral Chamber of Commerce for Indo-US Business, IACC Like us on Facebook Follow IACC on Twitter Connect with IACC on Linkedin Google + IACCINDIA Blog IACCINDIA’s Official Channel

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