Tag Archives: MakeInIndia

Rising Bharat Swadeshi News Feed: September 1st 2020

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Planning of Investment in Bharat

  1. European Investment Bank to invest 650 million euros into Kanpur metro rail construction

Key points:

  1. The European Investment Bank (EIB) said it will invest 650 million euros into the construction of Kanpur’s first metro line, enabling about three million people in the city to benefit from green, fast and affordable public transport. 
  2. The EIB, in a statement, said the new metro rail system will reduce commuting hours and unlock new employment and education opportunities in Kanpur, the industrial capital of Uttar Pradesh.
  3. This is the second metro rail project supported by the EIB in Uttar Pradesh, following the 450 million euros investment in the development of a metro rail system in the city of Lucknow.
  4. The second biggest EIB operation outside the EU to date will finance the construction of a 32.4 km urban rail line, with 18 elevated and 12 underground stations, the statement said.
  5. Once completed, Kanpur metro rail will create 1,100 new jobs and enable around 116 million more affordable commutes each year, it said.
  6. This is the fifth EIB investment in green infrastructure and connectivity in India. The EU bank has invested in metro rail systems in Bhopal, Pune, Bangalore and Lucknow.

(Business Today, 1 September 2020) News Link

  • India’s target to gasify 100 MT coal to entail investment of over Rs 4 lakh cr: Joshi

Key points:

  1. India’s target to gasify 100 million tonnes of coal by 2030 will entail an investment of over Rs 4 lakh crore, Coal Minister Pralhad Joshi said on Monday. 
  2. This 100 MT coal gasification will happen in three phases. In the first phase — from 2020-2024 — 4 million tonnes (MT) of coal will be gasified and around Rs 20,000 crore will be invested for the same.
  3. In the second phase — from 2020-2026 — 6 MT of coal will be gasified which will involve an investment of Rs 30,000 crore.
  4. In the third phase — from 2022-2030 — 90 MT of coal will be gasified and Rs 3.6 lakh crore will be invested for the same.
  5. Coal India also plans to set up at least three gasification plants (besides Dankuni) on build, own, operate (BOO) basis through global tendering and has signed pact with GAIL for marketing synthetic natural gas.

(Economic Times, 1 September 2020) News link

Investment in Bharat by other countries

  1. Venture Catalysts raises Rs 100 cr for investing in over 100 startups

Key points:

  1. Angel investor Venture Catalysts (VC) on Tuesday said it has raised Rs 100 crore for a new fund which will invest in over 100 Indian startups.
  2. The ‘9unicorns Accelerator Fund’ of VC is built along the lines of Silicon Valley’s accelerator fund Y Combinator’s strategy which has over 2,000 investments.
  3. This is the first close of Rs 100 crore or USD 14 million for the fund, which will focus on identifying startups early and would prefer to be the first external investor in a company’s journey, a company statement said.
  4. VC’s founding team members Apoorva Ranjan Sharma, Anuj Golecha, Anil Jain and Gaurav Jain are the founders for the fund, it said.

(Business Standard, 1 September 2020) News link

Views: Make in India

  1. Foreign companies rush to register in India to meet new ‘Atmanirbhar Bharat’ rules

Key points:

  1. The tweaked public procurement order disqualifying companies with less than 20% domestic content from most government tenders has prompted foreign firms to set up their shops in India.
  2. The chartered accountancy (CA) firms have seen growing requests from various foreign companies to incorporate their wholly-owned subsidiaries in India to meet the revised tender criteria.
  3. In order to promote local manufacturing, Department for Promotion of Industry and Internal Trade (DPIIT) amended the public procurement rules to ensure that only items with minimum 20% local content can participate in tenders floated by the government or any of its entities.
  4. Also, items with more than 50% local content will get purchase preference over other items. 
  5. The government had announced that no global tender will be issued for procurement of items worth less than Rs 200 crore.
  6. In a bid to support local manufacturing, the government has taken a slew of tariff and non-tariff measures especially to contain import of cheap items from China.

(Business Today, 1 September 2020) News Link

Bhartiya companies manufacturing in Bharat

  • Defence Min inks Rs 2,580-crore deal with Indian companies to procure Pinaka rocket launchers

Key points:

  1. In a boost to Prime Minister Narendra Modi’s ‘Make in India’ initiative, the defence ministry on Monday sealed a deal with Tata Power Company Ltd (TPCL) and engineering major Larsen & Toubro (L&T) to procure Pinaka rocket launchers. 
  2. The defence public sector undertaking Bharat Earth Movers Ltd (BEML) will also be part of the project.
  3. TPCL and L&T will manufacture rocket launchers for six Army regiments at a cost of Rs 2,580 crore.
  4. The BEML will supply the vehicles on which the rocket launchers will be mounted.
  5. The six Pinaka Regiments will be supplied to the Regiment of Artillery of the Indian Army at an approximate cost of Rs 2580 Crores.
  6. The six Pinaka Regiments comprise 114 launchers with Automated Gun Aiming and Positioning System (AGAPS) and 45 Command Posts.
  7. BEML will manufacture 330 vehicles on which the domestically made rocket launchers will be mounted. 
  8. The Pinaka Regiments will be operationalised along the northern and eastern Borders of the further enhancing the operational preparedness of the armed forces. The Pinaka Regiments are is planned to be completed by 2024.
  9. The Pinaka Multiple Launch Rocket System (MLRS) has been indigenously designed and developed by DRDO and the production will be done by the above-mentioned defence industries. 

(Times Now, 1 September 2020) News Link

Rising Bharat Swadeshi News Feed: August 16th 2020

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Economic support to other countries

India rushes emergency technical support to Mauritius to control oil spill as part of extended neighbourhood outreach
Key points:

  1. Delhi as part of its Indian Ocean Region outreach has dispatched over 30 tonnes of technical equipment and material on board an Indian Force Aircraft to Mauritius to supplement the country’s ongoing oil spill containment and salvage operations.
  2. The move in India’s extended neighbourhood was made following a request of the Government of Mauritius (GoM) for assistance in dealing with the environmental crisis due to oil spill on its south-east coast.
  3. The specialized equipment on board IAF aircraft, consisting of Ocean Booms, River Booms, Disc Skimmers, Heli Skimmers, Power packs, Blowers, Salvage barge and Oil absorbent Graphene pads and other accessories, is specifically designed to contain the oil slick, skim oil from water, and assist in clean up and salvage operations, according to a MEA statement.
  4. A 10-member Technical Response Team, consisting of Indian Coast Guard (ICG) personnel specially trained for dealing with oil spill containment measures, has also been deployed to Mauritius to extend necessary technical and operational assistance at the site.
    (Economic Times, 16 August 2020) News Link

Investment in Bharat by other Countries

India’s key Central European partner Poland keen to increase two-way investments in post-Covid scenario
Key points:

Central Europe’s biggest nation and India’s traditional partner in the region is keen to invest in India and simultaneously keen to expand basket of Indian investments in the country.

India is the primary location in Asia for Polish investors (currently 270 mln USD).

Increasing two-way investments was one of key issues discussed at the Indo-Polish Foreign Office Consultations held last week through a virtual meet. Poland has also proposed cooperation with India on research and innovation.

It may be recalled that the Polish Investment and Trade Agency opened a new Foreign Trade Office in Mumbai in 2018.

Poland is India’s largest trade partner and export destination in the Central European region, with bilateral trade growing almost seven-fold over the last ten years. As per Indian statistics, the overall value of bilateral trade in 2018 was $ 2.351 billion.

India and Poland signed a Memorandum of Understanding last year to enhance bilateral cooperation in the coal and mining sector.
(Economic Times, 16 August 2020) News Link

Manufacturing in Bharat by Bhartiya companies

  1. BEL supplies 30K ventilators in 4 months amid corona pandemic

Key points:

  1. Contributing its share to the Atmanirbhar Bharat initiative, state-run Bharat Electronics Ltd (BEL) has rolled out a whopping 30,000 ventilators in four months to treat Covid-19 patient across the country, an official said on Sunday.
  2. The Health Ministry had in April placed an order with the BEL to make 30,000 ICU ventilators to strengthen the healthcare infrastructure for combating the coronavirus pandemic across the country.
  3. The ventilators were made in collaboration with the Mysuru-based Skanray Technologies Ltd under a licensing agreement while the state-run Defence Research and Development Organisation (DRDO) provided the design.
  4. Braving odds due to the Covid-induced lockdown restrictions that disrupted the supply chains, the ventilators were manufactured in a record time with the support of the Karnataka government

(Economic Times, 16 August 2020) News Link

Vaccine Development

  1. 3 COVID Vaccines In Trial Phase, India Ready To Mass-Produce Says PM Modi

Key points:

  1. PM Modi saluted Indian scientists and said that there are over three homegrown vaccines being worked on right now.
  2. While Covaxin, which has been produced by Bharat BioTech in collaboration with Indian Council of Medical Research (ICMR) and National Institute of Virology (NIV), Pune was one of the first to be launched, another candidate in the race is ZyCOV-D, which has been developed by Ahmedabad based Zydus Cadila, using a DNA and recombinant measles virus strain.
  3. Both the vaccines, which started trials in early July entered phase II trials in August, making them one of the quickest vaccines to reach the mid-scale phase of testing.
  4. PM Modi, who also announced the launch of National Health Mission for the public also discussed plans of how vaccines will be distributed in the country. 

(TOI, 16 August 2020) News Link

Startup in Bharat by Bhartiya

  1. आईआईटी बॉम्बे से पढ़ाई की, लेकिन नौकरी के लिए रिज्यूम भी नहीं बनाया, आज ऑर्गेनिक फार्मिंग से सालाना 9 लाख रु कमा रहे

Key points:

  1. मध्यप्रदेश के शाजापुर जिले के कालापीपल तहसील के छापरी गांव के रहने वाले तथागत बारोड़ बतौर डिग्री तो इंजीनियर हैं लेकिन अब प्रोफेशन से किसान बन गए हैं।
  2. उन्होंने मौलाना आजाद नेशनल इंस्टीट्यूट ऑफ टेक्नोलॉजी (मैनिट) भोपाल से बीटेक और फिर आईआईटी बॉम्बे से मास्टर्स करने के बाद किसी मल्टीनेशनल कंपनी में नौकरी करने के बजाय खेती को करियर चुना और ऑर्गेनिक फार्मिंग की शुरुआत की।
  3. उन्होंने एक गौशाला भी शुरू की है। जहां अभी 17 गाय हैं। जिनसे दूध और उससे बने प्रोडक्ट वो तैयार करते हैं।
  4. साथ ही उन्होंने गोबर गैस प्लांट भी लगाया है, जिसके गैस से उनके घर का काम चलता है, खाना पकता है। पशुओं के गोबर और मूत्र से वे तैयार खाद का प्रयोग अपने खेतों में करते हैं, उन्हें बाहर से खाद नहीं खरीदनी पड़ती है।
  5. तथागत ने अब तक करीब 140 परिवारों तक अपनी पहुंच बना ली है। वे उनके घर के लिए प्रोडक्ट तैयार करते हैं।

(Bhaskar, 16 August 2020) News Link

Rising Bharat Swadeshi News Feed: August 15th 2020

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NEP will play important role in making India self-reliant: PM Modi

Key points:

  1. Education has a crucial role to play in making India self-reliant and prosperous and the new National Education Policy has been introduced with this objective, Prime Minister Narendra Modi said on Saturday.
  2. “Education has an important role to play in making India self-reliant, happy and prosperous. With this objective, we have been able to give the country a new education policy after over three decades,” Modi said.
  3. Approved by the government last month, the NEP replaces the 34-year-old National Policy on Education framed in 1986.
  4. It is aimed at paving the way for transformational reforms in school and higher education systems to make India a global knowledge superpower.

(Live Mint, 15 August 20200) News Link

Make in India

  1. ‘Need to Make in India to make for the world’ — Modi’s I-Day call for Atmanirbhar Bharat

Key points:

  1. Prime Minister Narendra Modi Saturday urged Indians to work towards a ‘Atmanirbhar’ Bharat or self-reliant India, and said the country should strive towards bringing down its import bill and consume more locally manufactured products.
  2. Reiterating his call for India to ‘Make for the world’ in his Independence Day speech, Modi said the slew of reforms and legal changes initiated by India over the last few years is seeing many global firms look to India to invest and set up their manufacturing units.
  3. “We need to become self reliant to contribute more to the world … We need to increase value addition in the country,” the Prime Minister said from the ramparts of Red Fort.
  4. Many measures towards meeting the government’s aim of a self-reliant India were announced as part of the Rs 21 lakh crore economic package announced in May.

(The Print, 15 August 2020) News Link

CII President Uday Kotak welcomes government’s emphasis on infrastructure

Key points:

  1. According to Uday Kotak, PM’s speech was inspiring and full of hopes. Kotak stated that focus on infrastructure and supply-side will benefit the nation.
  2. He also emphasised that we have to focus on getting out policies right. Kotak also said that we have to ensure unfair competition has no place in India. 
  3. Talking about a self-reliant India, Bajaj said, “All-round Aatmanirbhar–from border to agriculture to business side – is achievable with the right efforts”.
  4. Talking about ‘Make in India’ he said, the initiative is not just decreasing import but is also about increasing exports from India. He suggested that incentives for select sectors will boost exports. 

(Times Now, 15 August 2020) News Link

Planning of Central Government to Manufacture in Bharat

  1. Modi pins hopes on Rs 110 lakh crore National Infra Pipeline to ease Covid hit on economy

Key points:

  1. The government has already identified about 7,000 projects in different sectors that will be part of the NIP, the PM added as he made his Independence Day address at the Red Fort. 
  2. “There is a need to give a new direction to the overall infrastructure development of the country. This need will be met from the National Infrastructure Pipeline project. The country is going to spend more than Rs 100 lakh crore on this,” the PM added.
  3. While around 18-20 per cent of the pipeline is expected to be financed through the central government budget, around 24-26 per cent is to be contributed by state coffers. 
  4. A finance ministry taskforce recommended this April that 31 per cent of the required resources be raised through debt from bond markets, banks and NBFCs (non-banking financial corporations), and around 4-10 per cent as equity from private developers, aid agencies, and internal accruals.

(The Print, 15 August 2020) News Link

Investment in Bharat by other Countries

  1. FPIs invest ₹28,203 cr in Aug so far; turn net investor in debt after 5 months

Key points:

  1. Foreign portfolio investors (FPI) remained net investors in Indian markets in the first half of August, pumping in ₹28,203 crore in debt and equities on net basis in the period, according to the depositories data.
  2. FPIs turned net investors in the debt segment in August after a gap of five months.
  3. Depositories data showed that a net sum of ₹26,147 crore was invested in equities and ₹2,056 crore in the debt segment by FPIs between Aug 3-14. This translated into a total net investment of ₹28,203 crore.
  4. FPIs have been net buyers for two consecutive months prior to this. They invested ₹3,301 crore in July and  ₹24,053 crore in June on net basis.

(Live Mint, 15 August 2020) News Link

Startup in Bharat by Bhartiya

How a chance meet with Mukesh Bansal and post-pregnancy skin issues led to the launch of SkinKraft
Key points:

The skincare brand taps artificial intelligence (AI)-driven technology to provide dermatologically approved and customised skincare solutions to customers. 

SkinKraft, a brand under parent company IncNut Digital, recently raised $4 million from RPSG Ventures, in its Series A round.

The skincare brand taps artificial intelligence (AI)-driven technology to provide dermatologically approved and customised skincare solutions to customers. SkinKraft, a brand under parent company IncNut Digital, recently raised $4 million from RPSG Ventures, in its Series A round.

In 2008, IIT-Kharagpur and ISB Hyderabad alum Chaitanya, then running his company mGinger, an advertising platform, was at an entrepreneurial meet. He recalls pitching his startup’s idea to Kalaari Capital, where he met Mukesh Bansal, now CEO of Cure.fit. 

According to Chaitanya, SkinKraft’s average monthly revenue is Rs 8 crore and its ARR stands at Rs 100 crore.
(Your Story, 15 August 2020) News Link

How electro-optics startup Optimized Electrotech is strengthening national defence and homeland security
Key points:

Founded in 2017 by Sandeep Shah along with Anil Yekkala, Dharin Shah, Kuldeep Saxena, and Purvi Shah, Optimized Electrotech aims to solve surveillance-related challenges with its long-distance imaging systems.

The make-in-India electro-optics surveillance startup aims to serve the defence, paramilitary forces, aerospace, airports, critical assets, and other industries, along with a huge export market.

The startup’s first line of products, the InfiVision series, works on VIS+NIR wavelength and has been designed to detect a tank in more than 30km range.

The startup received its first VC investment from GVFL and a fund grant of Rs 1.5 crore from the Indian government as the winner of the iDEX challenge.

(Your Story, 15 August 2020) News Link

Rising Bharat Swadeshi News Feed: August 13th 2020

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Investment in Bharat by other Countries

  1. Coralogix to invest $30 mn in India to meet data localisation norms

Key points:

  1. Israeli tech company Coralogix on Thursday announced a $30 million investment for expanding into India, driven primarily by the data localisation compliance requirements for its customers.
  2. The company, provider of machine learning-powered log analytics and monitoring solutions, said it will provide customers with its first local Amazon Web Services (AWS) server support through its Mumbai region and data storage capabilities.
  3. Its Chief Executive and co-founder Ariel Assaraf said the $30-million investment will be done over a five-year period.

(Business Standard, 13 August 2020) News Link

Planning of Investment in Bharat

  1. ByteDance in talks with India’s Reliance for investment in TikTok: Report

Key points:

  1. China’s ByteDance is in early talks with Reliance Industries Ltd for an investment in its video-based app TikTok‘s business in India, TechCrunch reported on Thursday, citing sources.
  2. The two companies began conversations late last month and have not reached a deal yet, according to the report.
  3. Microsoft Corp has been in talks to acquire the U.S. operations of the video-sharing app.

(Economic Times, 13 August 2020) News Link

Startup in Bharat by Bhartiya

From Punjabi to Sanskrit, this edtech startup is making learning Indian languages relevant
Key points:

The startup’s mobile app makes learning Indian languages easy, interactive, and culturally relevant for expats, tourists, international students, kids, domestic migrants, NRIs, and cultural enthusiasts.

They currently offer five Indian languages: Hindi, Punjabi, Sanskrit, Kannada, and Gujarati. 

With approximately 100,000 downloads across 120 countries in a year,  Language Curry uniquely equips its learners with contextual, conversational language learning where the user not only learns the ‘what’ or ‘how’ of speaking Indian languages, but also receives short cultural capsules that explain the ‘why’ behind it.

The startup on Thursday, August 13 announced that it has raised $92,000 in angel funding led by Rebalance Angel Community, Chandigarh Angel Network, and a clutch of angel investors.
(Your Story, 13 August 2020) News Link

How this aerospace engineer who worked with NASA is now making UAVs for India’s Special Forces
Key points:

  1. Chennai-based Vinveli makes indigenous UAVs or drones for Special Forces under the Ministry of Home Affairs, such as the National Security Guard and the Central Reserve Police Force, and the Ministry of Defence.
  2. According to Gokul, the cost of the drones developed by Vinveli range between $10,000 – for the basic agriculture or imaging payloads, and $100,000 and above – for advanced sensor packages and navigation options such as swarming.
  3. During the Iowa Startup Accelerator Programme in 2014, Vinveli had received seed funding of $25,000.
    (Your Story, 13 August 2020) News Link

From Surat to Bengaluru, this platform is building a community of designers and photographers

Key points:

  • Iconscount is a bootstrapped design resource marketplace that offers ready-to-use high-quality icons, illustrations, etc.
  • According to the startup, at present, people from over 150 countries are purchasing from its library of over two million icons, illustrations, and stock photos for their businesses. The startup currently has around 200,000 plus registered users
  • In the ‘subscription model’, the user can purchase a monthly or yearly plan, which gives them access to various resources depending on the package they have selected. The price of these packages can range from $9 to $3000/ per month.
    (Your Story, 13 August 2020) News Link

Economic support to other Countries

India announces USD 500 million assistance for major connectivity project in Maldives
Key points:

India will fund the implementation of a major connectivity project in Maldives through a USD 400 million line of credit and USD 100 million grant, External Affairs Minister S Jaishankar said on Thursday.

The 6.7 km Greater Male Connectivity Project (GMCP) will be the largest civilian infrastructure project in Maldives, connecting Male with three neighbouring islands – Villingili, Gulhifahu and Thilafushi, officials said.

He also announced the start of regular cargo ferry service between India and Maldives to boost trade and commerce between the two countries.
India is also extending financial support for construction of a port in Gulhifahu.

“Once completed, this landmark project will streamline connectivity between the four islands, thereby boosting economic activity, generating employment and promoting holistic urban development in the Male region,” the Ministry of External Affairs (MEA) said.
(Economic Times, 13 August 2020) News Link

Vaccine development

Zydus Cadila launches India’s cheapest remdesivir version at Rs 2,800 per 100 mg vial
Key points:

Drug firm Zydus Cadila on Thursday said it has launched a generic version of Remdesivir, used for treating patients suffering from severe COVID-19 symptoms, at Rs 2,800 per 100 mg vial in the Indian market

Branded as Remdac, the drug is the most economical Remdesivir brand in India, Zydus Cadila said in a regulatory filing.

The active pharmaceutical ingredient (API) for the drug has been developed and manufactured at the group’s API manufacturing facilities in Gujarat, Zydus Cadila said.
Zydus Cadila is the fifth company to have launched its generic version of Remdesivir in India. Hetero Labs, Cipla Mylan and Jubilant Life Sciences have already launched their generic versions of antiviral drug Remdesivir in the country.
(Economic Times, 13 August 2020) News Link

Rising Bharat Swadeshi News Feed: August 12th 2020

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Planning of Investment in Bharat

  1. Indian Railways’ private train project on fast track as 23 firms including Bombardier, Alstom show interest

Key points:

  1. The Indian Railways’ plan to run private trains in the country is getting the attention of both domestic and international players like Alston, Bombardier, GMR and L&T.
  2. As many as 23 companies participated in an official pre-application online conference for running private trains on 12 clusters. 
  3. Among international players Bombardier, Alstom, Siemens attended a conference while among domestic players which showed interest include BEML, IRCTC, Sterlite, GMR Infra, Medha Group, JKB Infrastructure, Bharat Forge, BEML, L&T Infra and Titagarh Wagons.
  4. The Railways ministry organized its first pre-application conference on private train project Tuesday which was attended by around 16 prospective applicants.
  5. For the first time, ever private players will be allowed to run passenger train services on 109 routes through induction of 151 trains. The project would entail an investment of Rs 30,000 crore and is expected to boost domestic manufacturing inline with the government’s ‘Make in India’ pitch.

(Times Now, 12 August 2020) News Link

As many as 13 investors put in EoIs for acquiring Reliance Commercial Finance
Key points:

As many as 13 global and domestic investors have submitted expressions of interest for acquiring Reliance Commercial Finance Ltd (RCFL)

Lenders led by Bank of Baroda had invited bids for RCFL to recover unpaid loans and the last date of submitting the EoI was August 11.

Capri Global, India RF, JM Finance ARC, Edelweiss ARC, UV ARC, Urgo Capital, ARCIL, Authum Investment & Infra Ltd, Assets Care and Reconstruction Enterprise, CFM ARC, Invest ARC, Rare ARC and International Asset Reconstruction Company submitted expressions of interest (EoIs).

The bid process is being run by Deloitte as the resolution advisor, and interested parties were to submit an expression of interest (EoI) by August 11, according to the notice.
(Economic Times, 12 august 2020) News Link

NHAI to build 22 expressways with Rs 3.3 lakh crore investment, forms SPVs to meet fund requirement

Key points:

  1. The National Highways Authority of India (NHAI) has finalised a plan to build 22 expressways with an investment of Rs 3.3 lakh crore.
  2. The authority has also decided to form Special Purpose Vehicles (SPVs) to meet this huge fund requirement, according to sources.
  3. Under this mega plan, the NHAI board has approved the first SPV for Delhi-Mumbai Expressway, which will be wholly owned by the highways authority
  4. The Expressway projects of shorter lengths, in the range of 50-150 km, will be clubbed as one and a single SPV will be formed for Expressway projects having shorter lengths.
  5. For bigger length expressways of 300- 400 km and more will have dedicated SPV.
  6. In the first SPV formed for Delhi-Mumbai Expressway worth Rs 45,000 crore, the NHAI will infuse Rs 5000 crore while the rest Rs 40,000 crore will be taken as loan from market.

(Zee News, 12 August 2020) News Link

Investment in Bharat by Other countries

Deutsche Bank infuses Rs 2,700 crore into India branches
Key points:

Germany’s largest lender Deutsche Bank has infused Rs 2,700 crore into its India branch operations, taking its total investment into Indian branches to Rs 18,200 crore.

This is the second infusion by the Frankfurt based bank in less than two years. It put Rs 3,800 crore into India in early 2019.

The fresh capital will be used to support further expansion of Deutsche India, the bank said. The German lender operates 17 branches across India
(Economic Times, 12 August 2020) News Link

Startup in Bharat by bhartiya

This Delhi-based IoT startup is fighting COVID-19 with Made in India ‘Go Corona’ bags
Key points:

Started by serial entrepreneurs Arpit Chhabra, Sushant Taneja, Shashank Saxena, and Shivam Dikshit in 2017, IoTfy is a chip-to-cloud startup that helps consumer durable brands add internet of things (IoT) capability to their device categories.

IoTfy also takes pride in the fact that the company fits Prime Minister Narendra Modi’s clarion call for ‘Vocal for Local’ and Aatmanirbhar Bharat, as it contributes to this vision.

To support its scale and development, IoTfy is also planning to raise external funding by this year or early next year to bring in more talent and add more categories and continue its line of business.

(Your Story, 12 August 2020) News Link

Investment in Bharat by US companies

Equinix acquires GPX’s India data centres for 1.2k crore
Key points:

NYSE-listed data centre company Equinix has acquired the India operations of GPX Global Systems for $161 million (1,200 crore) in cash. The deal is expected to close in the first quarter of 2021.

The acquisition will help extend Equinix’s presence to India with two data-centre campuses in Mumbai.

Equinix will get access to customers such as Google Cloud, Oracle Cloud and Amazon Direct Connect and another over 200 international and local companies .
(Economic times, 12 August 2020) News Link