Aiming to reduce import dependency in the medical device industry as well as create employment and growth in the state, Chandrababu Naidu, the chief minister of the state of Andhra Pradesh, has decided to invest in a 200-acre medical device park — the first of its kind in India. The...
Global India Business Meeting, No-Charge, Los Angeles November 14
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...
Ikea to Operate 25 Stores in India
The Swedish home furnishings company IKEA has announced a long term plan to open 25 stores in the country at a cost of $80 million per store. In July this year the company bought land in Hyderabad in south India for its maiden store. Business Standard reports that IKEA has...
Mylan To Invest an Additional $5 billion in India
The Nasdaq traded generics pharmaceutical company Mylan said it was keen to expand its presence in the southern state of Andhra Pradesh with an additional investment of $5 billion. Rajeev Mukundan, senior vice-president (legal), Mylan, who was part of a delegation representing the US-India Business Council, informed Chandrababu Naidu, the...
U.S. and India Collaborate on Urban Transportation
U.S. Transportation Secretary Anthony Foxx signed a Memorandum of Cooperation (MOC) on Transportation with India’s Minister of Road Transport and Highways, and of Shipping, Nitin Gadkari. Minister Gadkari signed the MOC on behalf of the Indian Government, which will establish a Transportation Partnership among the U.S. Department of Transportation and...
India to Add 2300 MW Wind Power Capacity in 2015
India’s wind energy potential is about 80,000 MW, and by the end of this fiscal year it will achieve a capacity addition of 2,300 MW. The reintroduction of accelerated depreciation (a form of tax incentive to promote renewable energy) and investments by large independent power producers (IPPs) are bolstering the...