With the Indian Ocean becoming more integral to global trade, the governments of Japan, India, and Sri Lanka have agreed to jointly develop the Port of Colombo to increase the port's container volume and enhance marine transportation in and around South Asia. The three partners will begin work by March...
SoftBank Invests Over $200 Million in India's Online Grocer
Japan's SoftBank Group led an investment round of more than $200 million in New Delhi-based online grocery startup Grofers India through its Vision Fund. The series F funding saw participation from new investor, KTB of South Korea, and existing investors Tiger Global Management of New York and Sequoia Capital of...
BD India To Certify Hospitals in Patient Safety
Franklin Lakes, New Jersey-based Becton, Dickinson (BD) in partnership with the Oakbrook, Illinois-headquartered Joint Commission International (JCI) launched a new patient safety program for hospitals, called Preventing Risks of Infections and Medication Errors in Intraveneous Therapy (PRIME) in India. PRIME is a programmatic approach toward patient safety which will be...
India's Motherson Sumi to Acquire Bombardier Transportation’s Assets
Noida, India-headquartered auto ancillary company, Motherson Sumi Systems will pay over $14 million to acquire Bombardier Transportation (Rolling Stock) U.K. Limited’s assets for producing and installing electrical components and systems for the rail industry. The deal also includes acquisition of Bombardier assets to manufacture wiring harnesses, panel and cabinet build,...
India Receives $540 Billion in FDI for FY18
Foreign direct investment (FDI) during the previous fiscal grew 18 percent to over $540 billion, data from India's central bank, the Reserve Bank of India , evidenced. FDI increased by over $60 billion including revaluation of past investments, during 2017-18 to reach $540 billion in March 2018 at market value, according...
Partnership between U.S., India Advances
As part of the Raisina Dialogue, an annual multinational conference geared toward issues facing the global community, that took place at New Delhi on January 9 this year, Navy Adm. Philip S. Davidson, commander of U.S. Indo-Pacific Command, answered questions during a panel discussion. He noted that the Indo-Pacific region...