Nov. 25 – Prime Minister Manmohan Singh said that India is willing to consider a free trade pact with the United States similar to the one it already has with Association of Southeast Asian Nations (ASEAN).
“I don’t mind exploring the possibility for a free trade agreement with the United States,” Mr. Singh said during a meeting with the Council on Foreign Relations during his first four-day state visit to the United States. Continue reading
Nov. 24 – India has signed agreements on traditional knowledge, intellectual property and investment promotion with the United States during Prime Minister Manmohan Singh’s first official state visit to the country.
One of the first agreements signed is a Traditional Knowledge Digital Library (TDKL) Access between the Council of Scientific & Industrial Research (CSIR) and U.S. Patent and Trademark Office (USPTO ) reports Zee News. Another agreement involves a deal between India’s Controller General of Patents, Designs and Trade Marks and the U.S. Patent and Trademark Office, U.S. Department of Commerce. Continue reading
Nov. 20 – India is taking a more aggressive stance in developing its solar-power industry by offering more subsidies for the production of renewable energy.
The Ministry of New and Renewable Energy is scheduled to release a solar-power policy soon with details that will allow more solar projects to receive government funding.
Ministry director, B. Bhargava, told The Wallstreet Journal that the new policy will hopefully spur solar panel manufacturers to increase production to help reduce cost. Continue reading
Nov. 18 – Pranav Mistry, India’s IT wunderkind, demonstrated his “SixthSense” technology at the TED India conference this year. In a presentation to a packed house (video after the break), Mistry showed off tools that allow the physical world to interact with the digital one, including a paper “laptop” and a virtual camera.
It’s a fascinating look into the near future, made even more exciting by Mistry’s assertion that he will open-source the software behind the SixthSense technology, making its possibilities available to everyone. Continue reading
Nov. 10 – Management consulting and consulting firm, Accenture is set to expand its India office from 42,000 to 50,000 by the end of 2010.
William D Green, chairman and chief executive officer of Accenture, spoke with ENS Economic Bureau during the said ongoing India Economic Summit: “We are 42,000 right now and we imagine we will be about 50,000 by the end of 2010.” Globally, Accenture employs a total of 1,77,000 people. Continue reading
Nov. 9 – Indian outsourcing firms reported better business during the third quarter of this year according to the survey Everest’s Market Vista: Q3 2009.
“The Indian offshore industry is growing on the back of improving demand and continued advantages of India as an offshore destination. India-centric suppliers are investing in delivery capabilities and setting up new centers,” says the survey. Continue reading
Nov. 5 – India’s BSNL service provider is setting up 30,000 broadband kiosks in rural and remote areas in the next two years on a franchisee basis. The state-owned BSNL is planning to tie with partners to build a network of around 30,000 broadband kiosks and provide services to people at a small fee, and are specifically targeting areas which have no alternative facilities for accessing the internet.
As part of the National Broadband Penetration Program (NBPP), BSNL has partnered with ICT systems integration firm HCL Info systems to accelerate IT proliferation in rural India. The partnership is aimed at providing affordable broadband connectivity to the rural areas. Rural India provides a significant proportion of the nations GDP and it makes sense to provide farmers with better resources to enhance productivity, such as fixing prices for products, improving delivery times and obtaining weather forecasts. Continue reading
Oct. 21 – India’s corporate sector has been able to raise US$9 billion through the sale of shares and convertible bonds to institutional buyers since April, and is expected to raise another US$15 billion in the next six months, reports The Economics Times.
India Inc. is a common term used by the Indian media to refer to the corporate sector of the country.
The fundraising spree signal that Indian companies have finally broken through the liquidity crisis and are gearing up to finance growth plans. Most of these companies issued equity shares to a select group of investors by way of Qualified Institutional Placement (QIP), which involves selling ordinary rupee denominated equity shares to institutional investors, or the likes of mutual funds, pension funds and insurance companies. Continue reading
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