‘Make in India’ Attracts Business from Italy

On a three-day business mission to New Delhi, India in April, a delegation led by Italy’s deputy minister for economic development, Ivan Scalfarotto, aimed to strengthen bilateral ties and make the most of the plentiful business opportunities that India has on offer.

The platform, promoted by the Italian Ministries of Economic Development and Foreign Affairs, in partnership with India’s trade bodies FICCI and CII, saw participation by various state representatives, along with 140 big enterprises and SMEs, across varied sectors, from both India and Italy. 80 companies, out of the total industry representation in the forum, in areas such as automotive, healthcare, defense, aviation and railways were from Italy exploring growth opportunities in India.

Ivan Scalfarotto at the India-Italy Business Forum

Ivan Scalfarotto at the Italia-India Meet

Speaking at the event, Scalfarotto said that more than 60 Italian automotive companies were working with 80 manufacturing facilities in India — most of them located in the Maharashtra belt — “and yet keeping an eye on the immense future potential,” reports Autocar Professional.

 

May 12, 2017   No Comments

India Preparing New Defense Manufacturing Policy

Addressing an annual meeting of the Confederation of Indian Industry in New Delhi, India’s Finance Minister and interim Minister for Defense, Arun Jaitley, said that the Government of India is in an advanced stage of formulating a new defense manufacturing policy that will enable India to become a manufacturing hub.

Defense Ministry of India logo

With 70 percent of its defense equipment comping from imports, India has a current military spend of $55.9 billion says the Stockholm International Peace Research Institute, and Defense World reports that India has committed to investing $250 billion on weapons and military equipment by 2025.

With the aim of being self-reliant in the defense industry, Jaitley said, “Under our changed policy, we are in the future going to concentrate not merely in buying from the rest of the world, but encouraging global defense majors in collaboration with Indian companies, to set up manufacturing units in India.”

May 7, 2017   No Comments

India’s VEQTA Signs with Major League Baseball

New Delhi-based Veqta, India’s streaming video service, and the country’s first over-the-top service focused on sports content, inked a partnership with Major League Baseball.

Per the deal, Veqta will stream over 20 live MLB games each week during the regular season, along with full coverage of the league’s major events, including the All-Star Game, Wild Card Games, Division Series, League Championship Series and the World Series says The Hollywood Reporter.

Veqta Logo

Co-founded by Varun Mathur and Vikram Tanwar in April 2015, Veqta raised $500,000 in seed capital in May 2016. “We are thrilled to have Major League Baseball, one of the biggest names in the world of sport, partner with us,” said director Vikram Tanwar. “Baseball has a niche audience here [in India] and we wish to grow it further,” he added.

May 3, 2017   No Comments

Amazon Launches Fire TV in India

Amazon launched its Fire TV stick in India  with Amazon’s Prime Video India director and country head Nitesh Kripalani and Amazon Fire TV vice president Marc Whitten at the launch. India is the fifth country where the device becomes available after the U.S., U.K., Germany and Japan.

Priced at $62, the Fire Stick stick comes pre-loaded with  Amazon Prime Video and rival platforms, such as Netflix, Fox India’s Star network-owned Hotstar, Viacom18’s Voot and Indian film major Eros International’s ErosNow, among others. Additionally, the device offers access to YouTube, various gaming apps and more, says The Hollywood Reporter.

Amazon Fire TV Stick with Voice Remote

Amazon Fire TV Stick with Voice Remote

Whitten said, “Fire TV Stick also offers data monitoring and other features to help customers in India get the most from their data plan and stream more content using less bandwidth.”

 

 

April 26, 2017   No Comments

National Security Advisor McMaster meets PM Modi

On his first official visit to the region, United States National Security Advisor H.R. McMaster,  met Prime Minister Narendra Modi in New Delhi, this week. McMaster is the highest ranking Trump administration official to visit India so far.

“The two sides discussed a range of bilateral and regional issues, including their shared interest in increasing defense and counter-terrorism cooperation,” the U.S. Embassy in New Delhi said after the meetings. “NSA McMaster emphasized the importance of the U.S.-India strategic relationship and reaffirmed India’s designation as a major defense partner,” it said, noting that the meetings were ‘productive’.

McMaster-Modi Meeting

The Indian side said, “The Prime Minister recalled his positive telephonic conversations with President Trump that reaffirmed the importance attached by both sides to the strategic partnership and to stepping up India-U.S. engagement across the board.”

During the meeting, both McMaster and Modi exchanged views on “how both countries can work together to effectively address the challenge of terrorism and to advance regional peace, security and stability,” reports the Indian Express.

 

April 20, 2017   No Comments