Siemens Launches Mobile Diagnostic Device in India

Siemens Healthineers,  part of the Siemens Group, launched a device that embeds mobile technology with diagnostics in India.

“We have signed an exclusive agreement with Jana Care for Aina, a blood monitoring system. It will be the world’s first smart phone-based diagnostic system, which will enable detection and management of chronic diseases such as diabetes and cardiac conditions,” said Anuj Dhingra of Siemens Healthineer. Jana Care is a Bangalore-based diabetes care company.

Aina Device

Meaning ‘mirror’ in Hindi, Aina offers a broad range of tests such as HbA1c glucose, hemoglobin and a lipid profile on a single platform covering immunoassay, enzymatic or chemical affinity. Aina is available in two configurations–a smart phone-based device and tablet-based portable lab system. After connecting with the smart phone, it acts like a diagnostic testing device enabling real-time, lab-quality results within minutes, added Dhingra. A “Habits” app,  comes integrated with the Aina device,  serves virtual diabetes coach that helps patients reach their diet and exercise goals through personalized daily checklists which includes tips, tasks, lessons and quizzes.

This integrated diagnostics and disease management platform is approved for use in Europe, India, Singapore and Malaysia.

February 16, 2018   No Comments

Sequoia to Raise $1 Billion India-Focused Fund

Menlo Park, California-based Sequoia Capital plans to raise up to $1 billion for its sixth India-focused fund, making it the largest corpus raised for India markets. The corpus will be raised across multiple vehicles, such as as venture capital focused on technology companies, and growth-stage capital focused on consumer and other non-tech investments.

Sequoia Capital’s team in India also leads investments in Southeast Asia and has set up an office in Singapore. This region will be a significant part of the strategy in the upcoming fund for Sequoia Capital India, which manages about $3.2 billion of investments.
A signborard with 'investment' written on it

January 30, 2018   No Comments

Mauritius Continues to Be Largest Channel for FDI to India

Based on a census that it undertook, a report by India’s central bank, the Reserve Bank of India, said, “Mauritius was the largest source of foreign direct investment (FDI) in India (21.8 percent share at market value) followed by the U.S.A., the U.K., Singapore and Japan, while Singapore (19.7 percent) was the major overseas direct investment destination (ODI), followed by the Netherlands, and the U.S.A.” The census yields comprehensive information on the market value of foreign liabilities and assets of Indian companies arising from FDI, ODI and other investments.  Historically foreign investors who expect capital gains from the ultimate sale of their stake prefer to invest via this tiny island nation due to a favored tax deal between India and Mauritius.

Reserve Bank of India logo

Other key findings of the census were:

  • Of the 18,667 companies that participated in the census, 17,020 had FDI/ ODI in their balance sheets in March 2017
  • “96 percent of the responding companies were unlisted in March 2017 and most of them had received only inward FDI; unlisted companies had a higher share of FDI equity capital compared to listed companies”
  •  Over 80 percent of the 15,169 companies that reported inward FDI were subsidiaries of foreign companies (single foreign investor holding over 50 percent of the total equity)
  • Non-financial FDI companies had a much higher share in total foreign equity participation compared to financial FDI firms.
  • “The ratio of market values of inward to outward direct investment, increased to 4.3 in March 2017 from 3.6 a year ago; equity participation accounted for 94 percent and 79 percent shares in inward and outward FDI, respectively,”
  • The manufacturing sector accounted for nearly half of the total FDI at market prices; information and communication services and financial and insurance activities were the other major sectors that attracted FDI.
  • Total sales, including exports, of foreign subsidiaries in India increased by 18.7 percent during 2016-17 whereas their purchases, including imports, increased by 20.1 percent.

January 24, 2018   No Comments

10 ASEAN Leaders to Be Chief Guests at India’s Republic Day Celebrations

The Association of Southeast Asian Nations, or ASEAN, was established in 1967  with Indonesia, Malaysia, Philippines, Singapore and Thailand as founding members. Later, Brunei Darussalam, Vietnam, Laos, Myanmar, and Cambodia joined the group making up what is today the ten member states of ASEAN. Its purpose is to accelerate economic growth, social progress, and cultural development in the region, and promote regional peace and stability.

To mark the 25th anniversary of India’s relations with the bloc, Prime Minister Modi invited the leaders of all the ASEAN countries to be chief guests at India’s 69th annual Republic Day parade on Jan 26, 2018. The acceptance of Modi’s invitation by all ASEAN charter members is an indication of the growing importance of their relations with India – both as a bloc and bilaterally.

The expected chief guests are:

President of Indonesia,

Prime Minister of Malaysia,

President of Philippines,

Prime Minister of Singapore,

(former) Commander of the Royal Thai Army

Sultan of  Brunei

Prime Minister of Vietnam,

Prime Minister of Laos

State Counselor of Myanmar

Prime Minister of Cambodia

India is a member of the ASEAN Regional Forum, and  trade and investment ties between India and ASEAN have been on an upswing. The ASEAN region along with India comprises a combined population of 1.85 billion people — one fourth of the global population — and their combined GDP  is over $3.8 trillion. Investment from ASEAN to India has been over $70 billion since 2000, accounting for more than 17 percent of India’s total Foreign Direct Investment. India’s investment in ASEAN  companies during the same period has been more than $40 billion.

PM Modi at Asean-India Summit Nov 2017

PM Modi at Asean-India Summit Nov. 2017

January 18, 2018   No Comments

60 Global Food Brands to Set Up Outlets in India

More than 60 global food and beverage brands, including U.S.-based Planet Hollywood and pizza chain Little Caesar’s, Singapore-based Sarpino’s Pizzeria, Finland’s Hesburger, and Dubai-based Ice Cream Lab are planning to enter India, investing an estimated $1 billion and opening as many as 5,000 outlets over the next five years.

These brands are seeking local partners to take advantage of the $60 billion food services market in India, according to FranGlobal, the overseas arm of Franchise India Holdings Ltd.

“Planet Hollywood and the connection with Bollywood is a marriage made in heaven. The symmetry and compatibility between the two is very strong. We are delighted to have the opportunity to introduce our brands in this huge, exciting and dynamic marketplace,” Alex Garland, managing director for Europe, Middle East and Asia at Planet Hollywood, said.

A Burger

LiveMint reports that according to a joint report published by the National Restaurants Association of India and consulting firm Technopak Advisors the food services market in India is projected to reach $74 billion (Rs4.98 trillion) by 2021. The market is growing at an annual average rate of 10%.

November 7, 2017   No Comments