India Ranks 3rd among Top 10 Countries for LEED Green Buildings

With more than 752 LEED-certified projects totaling over 20 million square meters of space, India ranks third on the US Green Building Councils (USGBC) annual ranking of the top 10 countries for Leadership in Energy and Environmental Design (LEED) certified buildings.

Rank Nation Number of Projects Gross Square Meters
1. China 1,211 47.16 million
2. Canada 2,970 40.77 million
3. India 752 20.28 million

The top 10 list highlights countries outside of the U.S. that are making significant strides in sustainable building design, construction and transformation. The other countries are  Brazil, Germany, Korea, Taiwan, Turkey, Mexico and the UAE. The U.S., remains the world’s largest market for LEED with 30,669 LEED certified projects totaling 385.65 million square meters.

“LEED is a full-scale global movement and plays a key role in helping cities, communities and countries manage their built environment,” said Mahesh Ramanujam, CEO of  USGBC and Green Business Certification Inc., the global certifying body for LEED projects. “When we prioritize green buildings we are committing to creating spaces that perform at the highest levels, conserving resources and enhancing human health. The work being done in each of these markets is raising the bar for the global market,” he added.

January 27, 2018   No Comments

AngelList Launches Syndicate Services for India

San Francisco-based AngelList, a crowdfunding platform and start-up community, launched ‘Syndicates for India’— a way for investors in India to invest alongside experienced angels and venture investor funds that invest in India’s vibrant tech ecosystem.

AngelList Logo

For investors, syndicates are a private single-deal investment vehicles that let an investor invest in startup allocations shared by syndicate leads, enabling more angels to participate by getting access to top deals. Similar to a venture investor fund, syndicates provide experienced investors the opportunity to earn carried interest on their allocation, and the ability to write bigger checks by pooling capital from dozens of backers in the ecosystem

These syndicate programs operate in the U.S., Canada, and the U.K. and through them, AngelList has facilitated investments of $700 million combined in over 1,800 start-ups including Uber and Indian start-ups such as ClearTax, DocTalk and Squad.

January 24, 2018   No Comments

Ten Most Significant Changes in India in the Last Decade

Forbes documents the top ten most significant changes that India has witnessed from 2010 to 2017. Read a lightly edited summary of these below:

1) Emerging as one of the largest economies

The recent economic expansion noted in India has brought a record number of people out of poverty. A growing middle class fuels its impressive consumer growth. Today, India is the world’s third largest market for smart phones and the sixth largest for cars; its software industry employs more than four million people directly and more than ten million indirectly.

With almost fifty percent of India’s population under the age of twenty-six, the country faces the challenge of finding jobs for one million citizens who enter the employment market every month.

2) Gaining diplomatic clout

With economic prosperity, India gained strategic importance. India’s Civil Nuclear Treaty with the U.S. in 2008 ushered India into the global nuclear elite. For the last three years, India has given more aid than it has received, with neighbors Bhutan, Afghanistan and Nepal topping the list of recipients. All of this has added up to give India much more power in diplomatic negotiations.

The current Indian government is the first one to consistently conduct diplomacy in the language of international business. Prime Minister Narendra Modi has undertaken more than 70 foreign trips since taking office in May 2014. Given his focus on trade and investment, Modi is widely promoting the fact that India jumped 30 places on the World Bank’s Ease of Doing Business list for 2018 to the 100th place.

3) Evolving federalism

Cooperative federalism of India’s 29 states has now morphed into a competitive federalism in which states – many with the populations of large countries – vie with each other for investment. Foreign investors need to assess the political and regulatory scenarios at both the federal and state levels and pay attention to the state-wise ease of doing business rankings that are published every year.

In the middle of 2017, India replaced dozens of state and federal taxes with a national one, called the Goods and Services Tax or GST. The federal government created a more unified national market which is expected to lead to greater efficiencies and a more attractive business environment.

4) Fighting corruption and “black” money

Prime Minister Modi’s government was elected on an anti-corruption manifesto, and in November 2016, Modi announced the immediate withdrawal of two high-value currency notes. In one stunning move, 86% of the currency was sucked out of circulation, to be gradually replaced by new bills. The declared aim of the move was to fight black money and counterfeiting.

The Prevention of Money Laundering Act, has recently been bolstered by an expanded Enforcement Directorate, the federal agency tasked with fighting money laundering. Between April and August of 2017, the Enforcement Directorate and the Securities and Exchange Board of India, the stock market regulator, acted against at least 331 fake companies and 100 brokerages charged with facilitating money laundering. This government has implemented Aadhaar, the world’s largest biometric identification system, to root out duplication of identities and safeguard welfare plans from corruption-related leakages. Aadhaar was conceived during the previous government of Dr. Manmohan Singh but Modi’s team has fully embraced its power.

5) Forging a stricter compliance regime

The Reserve Bank of India, the country’s central bank, has been given more power in 2017 to act against loan defaulter. The Companies Act of 2013, despite many problems, also brought clearer accountability to corporate anti-corruption and anti-fraud measures.

6) Emergence of the modern Indian  and Indian led multinational

Indian business groups began to extend their international footprint in this decade – India’s Tata Group bought Britain’s Corus Steel for $13 billion in January 2007. The next month, the Aditya Birla Group, announced the acquisition of Canada’s Novelis for $6 billion. The year after that, Tata Motors bought the Jaguar Land Rover car businesses from Ford Motor for $2.3 billion. These acquisitions have helped change the culture of corporate India, embedding international best practices in some of India’s top companies. During the same period, executives of Indian origin were appointed to lead Pepsico, Google. Adobe, Microsoft, Deutsche Bank and Reckitt Benckiser.

7) Tilting to the political right

India’s growing right-wing nationalism concerns business leaders who feel that a sense of nationalism is in the way of business decisions and policies. As the most populous democracy in the world heads towards another national election in the first half of 2019, this position is unlikely to soften anytime soon (“according to Forbes”)

8) Growing wealth of “godmen”

The fastest growing consumer company in the country today is Patanjali, which was founded just a decade ago by Baba Ramdev, a yoga evangelist whose religious sermons on his own television channel are watched by tens of millions every day. His diet-biscuit-to-dish-washer company is now a $1.6 billion behemoth whose success has forced several multinational giants to rethink their market strategies.

9) Changing security challenges

In  the November 2008 terrorist attacks, when Pakistani terrorists attacked four locations across Mumbai, India resolved to fight terrorism in a more coordinated way.

10) Leaping into a digital future

The Modi government has launched Digital India, a campaign to improve the country’s digital infrastructure and offer more government services online. Many Indian companies are leveraging artificial intelligence, data analytics and machine learning to disrupt their markets and deliver a competitive edge.

Indian flag

December 5, 2017   No Comments

Multinationals Bullish on Warehousing in India

Due to growth in both the consumer sector and e-commerce in India, overseas investors and real estate players are increasingly investing in warehousing and logistics.

Key players such as Singapore’s Ascendas-Singbridge, Assetz Property Group, Ohio-based Logos Realty, Canada Pension Plan Investment Board and the Everstone Group, among others, have made major investments in this segment.

Some quotes from senior management:

“We are seeing extensive demand from our existing and new customers for institutional grade logistics facilities in the region,” said Trent Iliffe, joint managing director, Logos.

“We have been in India for over two decades, developing iconic business and IT Parks… Entering the industrial and logistics sector is a natural progression,” Miguel Ko, group CEO Ascendas-Singbridge said.

Srinivas N, managing director, Industrial Services, of Chicago-based JLL India, said, “Thanks to fresh investments, supply and interest in this sector, the Indian logistics industry is set to reach the next level.”

“It is a good time for developers/investors to evaluate this sector to add to quality organized warehousing infrastructure keeping in perspective the latent demand and consolidation/expansion expected post-GST roll out,” said Shyam Arumugam, associate director, Office Services, of Canada-based Colliers International India.

Amazon and DHL announced plans to expand their warehouses, reports BusinessLine.

warehouse

August 21, 2017   No Comments

OECD: India at the Top of Governmental Confidence League

According to the latest edition of the  Paris-based Organization for Economic Cooperation and Development‘s Government at a Glance 2017 report, India, with a citizen support of 73%, is at the very top of the governmental confidence league. Canada ranks second with 62%.

Forbes says: Trust in government is vitally important. It serves as a driving force for a country’s economic development, makes governmental decisions more effective and leads to greater compliance with regulations and the tax system.

Russia and Turkey tied for the third spot at 58%; the U.S. scored 30%; and Greece is at the bottom with 13%.

Parliament House, india

Parliament House, India

 

 

July 15, 2017   No Comments