According to the latest Jane’s Report, released by research firm IHS Markit on Dec. 12, India will become the world’s third largest military spender in 2018 surpassing UK and Saudi Arabia which currently occupy the third and fourth places.
Craig Caffrey, principal analyst, IHS Jane’s said, “What we expect to see from 2017 onward is a military focused on modernization. India needs new equipment to fulfill its modernization drive. Over the next three years, India will re-emerge as a key growth market for defense suppliers.”
The first and second spot will continue to be occupied by the U.S. with $622.3 billion and China with $191.75 billion, the report added.
India’s government raised foreign direct investment limit for the sector to 49%, helping Indian private firms to partner with multinational defense companies. India needs to spend some $130 billion to modernize its military over the next seven years, reports Defense World.
December 16, 2016 No Comments
Persons of Indian origin and Indo-philes alike are welcome to attend the 2015 Regional Pravasi Bharatiya Divas (Overseas Indians) Convention hosted in Los Angeles for the very first time.
Sushma Swaraj, India’s External Affairs Minister who also runs the Ministry of Overseas Indian Affairs inaugurates the Convention at 6:00 PM on Saturday evening, November 14 at the Westin Bonaventure Hotel followed by dinner. Discussions resume next morning, Sunday from 9 am until 5 PM.
Register for just $50 per person or $75 per couple. Here is the registration link http://www.rpbdla.org/registration
“RPBD Los Angeles 2015” is subtitled “The Indian Diaspora: Defining a New Paradigm in India-US Relationship”, capturing the ethos of ongoing US-India relationship and the role played by the Indian diaspora. Amritt’s Gunjan Bagla will moderate one of the sessions.
Morning Discussion on
- Smart Cities
- Skill Development
- Infrastructure Development
- Waste Management
- Swachh Bharat (Clean India)
- Renewable Energy
- Digital India
- Cleaning the Ganges River
Lunch at 1 PM
Afternoon discussions on
- Innovation & Entrepreneurship
- Education, Skills & Vocational Training
Other details are avaialble at http://www.rpbdla.org/
Note that the OIFC Business Meeting on Saturday, November 14 requires separate registration and is free.
November 7, 2015 No Comments
On Saturday, November 14 2015, from noon to 5 PM at the storied Westin Bonaventure Hotel in downtown Los Angeles, the Indian government has organized a free Indian Diaspora Business Meet. Advance registration is required at http://www.oifc.in/registration-oifc-business-meet-november-14-2015
Arrive at 11 am to network, enjoy the provided lunch at noon and attend your choice of exclusive panel discussions starting at 1 PM.
- Digital India,
- Renewable Energy (moderated by Gunjan Bagla, India Expert)
- Investments in Social Impact Enterprises
The Overseas Indian Facilitation Center, a partnership between the Ministry of Overseas Indian Affairs and the Confederation of Indian Industry is bringing a delegation of business leaders from India from Manufacturing (auto components/ pharmaceuticals); renewable energy (financing of projects), IT & IT applications for healthcare; Real Estate (industrial, commercial, residential); market entry firms who can advise on laws, regulatory aspects of doing business with India; Social Enterprises which provide way for Overseas Indians to give back to roots but not through charity/philanthropy. Accompanying them are senior officials in-charge of facilitation of investments from four Indian states: Andhra Pradesh, Haryana, Jharkhand and Kerala.
- Ms Shobana Kamineni, Vice President, CII & Executive Vice Chairperson, Apollo Hospitals – India’s top healthcare provider with international presence.
- Mr Deep Kapuria, Hi-Tech Gears / Mr Randeep Jauhar, Jamuna auto-components.
- Mr Chandrajit Banerji, Director General, Confederation of Indian Industry (CII) – India’s apex industry chamber with strong connect with industry in India, networking with Govt, presence in every State of India & overseas offices including USA
- IT : representatives of Indian IT companies based in US and a couple of IT applications / IT software & services in Healthcare
- Legal / taxation/ regulatory/ domain sector experts experts – Mr Som Mandal from Fox & Mandal, Mr Ankur Srivastava, Ezy Laws, Mr K K Sharma, KKS Law firm.
- Solar Energy – Suzlon – wind energy, PTC (power trading & financing), incubation & start – up – renewable energy (Infuse Venture), Solar energy company looking for funding/ collaborations (Sahej)
- Start – up space: Kunal Upadhyaya – Centre for Innovation & Entrepreneurship – IIM Ahmedabad
- Indian Americans giving back and working in India – Evolko group that has a tie up with AIIMS institute Patna for reaching healthcare coverage in remote parts of Bihar
- Social Entrepreneurs – Shaffi Mather.
- Banking – several representatives of Indian banks
- Real Estate advisory –Ramita Arora from Jones Lang Laselle for commercial, industrial & residential real estate advisory
- Education : IIT Ropar looking for collaborations/ Intergenerational Centre in Himachal Pradesh for distance education and getting the old & retired to teach the youngsters.
To enable us to help you with business meetings, do register for the OIFC Business Meet at: http://www.oifc.in/registration-oifc-business-meet-november-14-2015 and also register your interest for a business meeting with delegation members. On the Spot registration may also be available.
Here is a current list of delegates, subject to change.
INDIAN DELEGATION (as on 4 Nov 2015)
1. Mrs Shobana Kamineni (for 15 Nov only) One of the largest integrated Healthcare providers in India with international presence
Vice President, CII
Executive Vice Chairperson
2. Mr Deep Kapuria Leader of the Business Delegation
Chairman Auto-component manufacturing
Hi Tech Gears Ltd Robotics & automation
3. Mr Chandrajit Banerjee Head of the largest industry chamber
Director General in India. Strong connect with Industry in
Confederation of Indian Industry India & Govt. Presence in all States of India & overseas incldg USA
4. Mr Randeep Jauhar Manufacturing (auto components)
Chief Executive Officer
Jamna Auto Industries Ltd
5. Mr V Ramkrishnan HR Consulting
AAR KAY Management Consultants
6. Mr Abhay Garg Impact investing financing
7. Mr P Rama Krishna Banking (Joining from USA)
Chief Representative & Asst. General Manager
8. Mr Ankur Srivastava Market Entry – legal & regulatory advice
Advocates & Legal Consultants
9. Mr Amit Khare Start-up Healthcare
Director Joining from USA
Evolko Systems Private Limited
10. Mr Shaffi Mather Social Entrepreneur & Lawyer
11. Mr Kulbhushan K Birnale (Reference: GOPIO)
President, Converse International Business Network
Director, Free Global Trade Centre Developers
12. Mr Somabrata Mandal Market entry/ domain sectoral expertise
Fox Mandal & Co.
Solicitors & Advocates
13. Mr Krishnamurthy Ramalingam Consulting/ Technology/IT application in healthcare
CEO & Managing Director
Galactic Medical DataBank (p) Ltd
14. Dr Harpreet Singh Education
Associate Dean-Industrial Relations
International and Alumni Affairs
IIT – Ropar
15. Mr Kunal Upadhyay Energy incubator/ Start –ups
Chief Executive Officer
InfuseVenture & CIIE
16. Mr Navin Budhiraja IT (Joining from USA)
Sr Vice President & Head (Architecture & Technology)
17. Ms Ramita Arora Real Estate consultants –
Director, Business Devt – International Desk Industrial/ commercial/ residential
Jones Lang LaSalle Property Consultants
India Pvt Ltd (JLL)
18. Mr K K Sharma Legal & regulatory advisors
K K Sharma Law Offices
19. Mr Pawan Singh Renewable Energy – power trading & financing
PTC Financial Services
20. Mr Subba Rao Yenduri Banking (Joining from USA)
Chief Executive Officer
State Bank of India
21. Mr. Shashi Ranjan Sinha Solar Energy
Saija Finance Private Limited
22. Mr Akhilesh Tripathi IT (Joining from USA)
Vice President & Head of Global Sales of Software
Tata Consultancy services (TCS)
23. Mr Yachneet Pushkarna Education / Skills/IT applications
Vice President – Global Strategies
The Intergenerativity Group
24. Mr Kapil Sharma IT (Joining from USA)
Government and Public Affairs, North America
Official Delegations from State Governments
1. Mr IYR Rao, Chief Secretary of Andhra Pradesh
2. Dr Ravikumar Vemuru, Advisor to Non-Resident Telugu Affairs, Services and Investments, Andhra Pradesh Chief Minister Office, Government of Andhra Pradesh
3. Mr Vineet Garg, MD – HSIIDC, Government of Haryana
4. Mr Manoj Pal Singh, Additional General Manager – HSIIDC, Government of Haryana
5. Mr Udai Pratap Singh Principal Secretary, Department of Industries, Govt of Jharkhand
6. Dr Madhaw Sharan Singh Dy Director Cum – Dy Secretary – officer in-charge of Single window, Dept of Industries, Govt of Jharkhand
7. Mr Rai Mahimapat Ray Staff Officer to Chief Secretary
7. Mr KC Joseph, Minister – NORKA, Government of Kerala
8. Ms Rani George, Secretary – NORKA, Government of Kerala
9. Mr RS Kannan, CEO – NORKA, Government of Kerala
November 7, 2015 1 Comment
In the September release of the Composite Leading Indicators (CLIs) that are designed to anticipate turning points in economic activity relative to trend, the Paris-based Organization for Economic Cooperation and Development (OECD) said India is expected to see “firming growth”.
As reported on their Website, the CLIs signal stable growth momentum in the Euro area particularly in Germany and Italy, while growth is firming in France. Stable growth momentum is also anticipated in Japan.
In Canada as well as in the United Kingdom and the United States, growth momentum is anticipated to moderate albeit from relatively high levels.
The outlook continues to deteriorate for China, with the CLI pointing more strongly to a loss of growth momentum. Signs of slowing growth momentum are also re-emerging in Russia. In Brazil, weak growth momentum is anticipated.
October 12, 2015 No Comments
The Defense Ministry of India has signed 18 international contracts worth $20.1 billion between May 2014 and February 2015. The contracts were signed with armaments manufacturers from USA, Russia, the UK, Israel, Germany and France reports Defense World.
“Defense Procurement Procedure details direct dealing with the original equipment manufacturers, authorized vendors or government sponsored export agencies (applicable in case of countries where domestic laws do not permit direct export by original equipment manufacturers),” Defense Minister Manohar Parrikar said.
“It also provides that vendor is required to give full details of any agents / technical consultants / authorized vendors that may have been appointed by them for marketing of this equipment in India. These details should include the scope of work and responsibilities that have been entrusted with the said party in India,” Parrikar added,
Parrikar’s comments possibly display a changing mind set in the ministry regarding the employment of middlemen in potential defense deals on the basis of full disclosure.
August 15, 2015 No Comments