U.S., India Collaborate on Building Radar Satellite

NASA and India’s ISRO – the Indian Space Research Organization – will jointly build a satellite called NISAR or the NASA-ISRO Synthetic Aperture Radar satellite which could be the world’s most expensive Earth imaging satellite, and will cost the two countries over 1.5 billion dollars. In a meeting in Toronto, NASA Administrator Charles Bolden and […]

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May 25, 2017   No Comments

U.S.’s Ebix Acquires Majority Stake in India’s ItzCash

Atlanta, GA-based Ebix Inc., a maker of software for the insurance and financial services industry, acquired a majority stake in Indian payments services firm ItzCash for approximately $124 million. ItzCash’s earlier investors, Matrix Partners, Intel Capital and Lightspeed Venture Partners, exited the company for returns between 3X – 5X, leaving Essel Group with a 20% […]

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May 25, 2017   No Comments

India Abolishes Foreign Investment Advisory Body

India’s Federal Government approved dismantling the 25-year old Foreign Investment Promotion Board,  in order to streamline  the flow of foreign capital into the country. By abolishing the Foreign Investment Promotion Board India’s minister for finance, Arun Jaitley, removed a layer of decision-making for foreign direct investment approvals in 11 sectors that needed prior government approval. […]

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May 24, 2017   No Comments

India’s Motherson Sumi Expands Internationally

Noida, India-based auto component maker Motherson Sumi Systems consolidated net profit stood at $108.81 million in the quarter ending March 31, 2017, a better-than-expected 20 percent growth. Motherson Sumi’s net sales outside India rose over 14 percent to 94.76 billion rupees (GB Please convert to USD) CFO of Motherson Sumi Systems, G. N. Gauba told Press […]

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May 22, 2017   No Comments

KKR Invests $50 Million in India’s Walchand Nagar Industries

New York City-based private equity firm KKR & Co., will invest $50 million (Rs 300 crore) in Mumbai-based Walchand Nagar Industries, one of India’s oldest business groups. KKR has so far deployed around $4 billion in structured financing to business groups in India over the past seven years, and has invested approximately $2.5 billion in […]

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May 22, 2017   No Comments