India Newsletter 03 2016

INDIA NEWSLETTER Indian Embassy, Vienna

Published by the Embassy of India, Vienna Year 6 • Issue 63 • March 2016

SPECIAL REPORTS ■Austrian ■ Foreign Minister Sebastian Kurz, WKO President Christoph Leitl and Second President of the Austrian National Council Karlheinz Kopf on a bilateral visit to India ■India-Austria ■ Business Forum in Delhi

■■FICCI and WKO renew MoU

India Newsletter • 1

Indian Embassy, Vienna

The Digital India programme is a flagship programme of the Government of India with a vision to transform India into a digitally empowered society and knowledge economy Digital Infrastructure as a Core Utility to Every Citizen

Governance and Services on Demand

Digital Empowerment of Citizens

www.digitalindia.gov.in 2 • India Newsletter

Indian Embassy, Vienna

The new Government has prepared a five pillar strategy to drive India’s growth, which offer multiple avenues of collaboration and investments

■■ Infrastructure Development

■■ Manufacturing Growth

■■ Skill Development

■■ Energy Sufficiency

■■ Improved Business Environment

www.makeinindia.com India Newsletter • 3

Indian Embassy, Vienna

Prime Minister Narendra Modi had announced the ‘Startup India, Standup India’ initiative in his Independence Day address last year. Last January 16th, PM Modi unveiled the action plan for startups in the country. He announced a self-certification scheme in respect of nine labour and environment laws and said there will be no inspection during the first three years of launch of the venture. Addressing the first conference of start-up entrepreneurs, Modi announced an action plan to boost such ventures which are seen as key to employment generation and wealth creation. Around 40 top CEOs and startup founders and investors from Silicon Valley attended the event.

Here are the top takeaways from the prime minister’s speech.

■■ 1. Compliance regime based on self certification The objective of compliance regime based on self certification is to reduce the regulatory burden on startups. This self-certification will apply to laws like payment of gratuity, contract labour, employees provident fund, water and air pollution acts.

■■ 2. Startup India hub A startup India hub will be created as a single point of contact for the entire startup ecosystem to enable knowledge exchange and access to funding.

■■ 3. Simplifying the startup process A startup will be to able to set up by just filling up a short form through a mobile app and online portal. A mobile app will be launched on April 1 through which startups can be registered in a day. There will also be 4 • India Newsletter

a portal for clearances, approvals and registrations

■■ 4. Patent protection The government is also working on a legal support for fast-tracking patent examination at lower costs. It will promote awareness and adoption of Intellectual Property Rights (IPRs) by startups and help them protect and commercialise IPRs. ■■ 5. Funds of funds with a corpus of Rs 10,000 crore In order to provide funding support to startups, the government will set up a fund with an initial corpus of Rs 2,500 crore and a total corpus of Rs 10,000 crore over four years. The fund would be managed by private professionals drawn from the industry while LIC will be a co-investor in the fund. The credit guarantee fund for start-ups would help flow of venture debt from the banking system to start-ups by standing guarantee against risks.

■■ 6. Credit Guarantee Fund A National Credit Guarantee Trust Company is being envisaged with a budgetary allocation of Rs 500 crore per year for the next four years.

■■ 7. Exemption from Capital Gains Tax Currently, investments by venture capital funds in startups are exempt from this law. Now, the same is being extended to investments made by incubators in startups.

■■ 8. Tax exemption for startups Income tax exemption to startups announced for three years ■■ 9.

Tax exemption on investments above Fair Market Value

■■ 10. Startup fests Innovation core programs for students in 5 lakh schools. There will also be an annual incubator grand challenge to create world class incubators ■■ 11. Launch of Atal Innovation Mission Atal Innovation Mission started to give an impetus to innovation and encourage the talent among the people ■■ 12. Setting up of 35 new incubators in institutions PPP model being considered for 35 new incubators, 31 innovation centres at national institutes ■■ 13. Setting up of 7 new research parks Government shall set up seven new research parks - six in IITs, one in IISc with an initial investment of Rs 100 crore each.

■■ 14. Promote entrepreneurship in biotechnology Five new bio clusters, 50 new bio incubators, 150 technology transfer offices and 20 bio connect offices will be established.

■■ 15.

Innovation focused programmes for students There will be innovation core programs for students in 5 lakh schools.

■■ 16. Panel of facilitators to provide legal support and assist in filing of patent application ■■ 17. 80 per cent rebate on filing patent applications by startups ■■ 18. Relaxed norms of public procurement for startups ■■ 19. Faster exits for startups

Indian Embassy, Vienna

NEWS FLASHES

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The total number of broadband subscribers in India have increased 60 per cent yearon-year to reach 136.53 million at the end of December 2015: Telecom Regulatory Authority of India (TRAI).

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The total container traffic at International Container Transhipment Terminal (ICTT), Vallarpadam is expected to increase 13.5 per cent year-on-year in current financial year to 415,821 Twenty-Foot Equivalent Units (TEU): Ministry of Shipping.

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The market size of different product categories needed by persons with disabilities (PWDs) in India is estimated to be Rs 4,500 crore (US$ 657 million): BarrierBreak.

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Domestic air passenger traffic in India increased 22.58 per cent year-on-year in January, 2016 to reach 7.7 million: Directorate General of Civil Aviation (DGCA).

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The total number of foreign tourist arrivals in January, 2016 have grown 6.8 per cent yearon-year to reach 844,000: Ministry of Tourism.

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The demand for industrial and warehousing space grew 40 per cent year-on-year to reach an all-time high of 10 million square feet across top cities of India during 2015: CBRE. The total number of mergers and acquisitions (M&As) and private equity (PE) investment deals increased 18 per cent year-on-year to 141 in January, 2016: Grant Thornton.

Home sales in India’s top eight property markets increased 15 per cent from preceding quarter to reach 78 million sq. ft in Q3 2015: Liases Foras Real Estate Rating and Research Pvt. Ltd. India retained its position as the seventh largest country market for Changi Airport in Singapore, which handled 3.44 million Indian passengers in 2015.

Indian power sector is expected to require Rs 65 lakh crore or US$ 1 trillion investment by 2030, with 40 per cent of power gear supplies estimated to be manufactured domestically.

India’s passenger vehicle density is expected to double from 29 million vehicles in 2015 to more than 48 million vehicles by 2020, driven by low vehicle penetration and young demographic: Ernst & Young The number of mobile phone launches in India sharply increased by 85 per cent to 1,622 launches in 2015 as compared to 19 per cent increase in 2014.

India’s urban infrastructure sector offers investment opportunity of Rs 73 lakh crore (US$ 1.08 trillion) over the next fifteen years, as per Mr Venkaiah Naidu, Minister of Urban Development.

Indian domestic air traffic is expected to cross 100 million passengers

by FY2017, compared to 81 million passengers in 2015: Centre for Asia Pacific Aviation (CAPA).

India has surpassed the US in terms of active unique smartphone users in 2015, crossing 220 million during the year, thus becoming the second largest smartphone market in the world: Counterpoint Research India Newsletter • 5

Indian Embassy, Vienna

SPECIAL REPORTS Foreign Minister Kurz visit to India At the invitation of H.E. Smt. Sushma Swaraj, External Affairs Minister of the Republic of India, H.E. Sebastian Kurz, Federal Minister of Europe, Integration and Foreign Affairs of Republic of Austria visited India from 16-19 February, 2016. He was accompanied by H.E. Karlheinz Kopf, Second President of the National Council of Austria, H.E. Dr. Christoph Leitl, President of Federal Chamber of Commerce {WKO} of Austria, and a large business delegation. During the visit, delegation level talks were held between the two sides, with the Indian side led by EAM Smt. Sushma Swaraj.

During the talks, both the leaders discussed the excellent bilateral

relations and potential measures towards further intensifying economic relations. They also discussed cooperation in the fields of culture, visa facilitation etc. With a view to further promoting trade relations, the Foreign Ministry in cooperation with the Economic Chamber has already facilitated the granting of visas to Indian business people.

Foreign Minister Kurz also held meetings with Minister for Women and Child Development H.E. Maneka Gandhi and the Minister of New and Renewable Energy H.E. Piyush Goyal. In his talks with the two ministers, Sebastian Kurz emphasised the important role India played during the Paris World Climate Conference and welcomed the Indian Action Plan. Some of the

leading Austrian companies active in the field of renewable energy are already represented in India. In his meeting with Kailash Satyarthi, who had received the Nobel Peace Prize in 2014 together with Malala Yousafzai, Sebastian Kurz expressed his great respect for the Nobel Peace Prize laureate and his long-standing and committed global fight against child slavery and for the promotion of their rights.

H.E. Karlheinz Kopf, Second President of the National Council held separate meeting with Minister of Parliamentary Affairs, H.E. Venkayyah Naidu. Both the leaders discussed the possibilities of expanding parliamentary interactions between the two countries.

H.E. Sebastian Kurz, Austrian Foreign Minister and H.E. Sushma Swaraj, Minister of External Affairs of India

India-Austria Bilateral Meetings 6 • India Newsletter

Indian Embassy, Vienna

H.E. Sebastian Kurz, Austrian Foreign Minister and H.E Piyush Goyal, Indian Minister of New & Renewable Energy

Austrian Federal Chamber of Commerce renews Memorandum of Understanding signed with the FIICI (Federation of Indian Chambers of Commerce and Industry) On the occasion of the visit of the President of the Austrian Federal Economic Chamber, Dr. Christoph Leitl, to India from Feb. 16th 2016

to Feb. 19th 2016 the Bilateral Cooperation Agreement between the Austrian Federal Economic Chamber (WKO) and the Federation of Indian Chambers of Commerce and Industry (FICCI) that was signed on October 5th 2011 in Vienna, Austria, was renewed and from now on will be referred to as a Memorandum of Understanding.

The Bilateral Cooperation Agreement was signed by Dr. Leitl and Ms. Ambika Sharma,

Joint Director General & HeadInternational at FICCI. The spirit of the signed Bilateral Cooperation Agreement of the year 2011 will be carried on the future. The nominal reframing to a Memorandum of Understanding is to be understood as a further step to underline the cooperation laid out in the articles of the Bilateral Cooperation Agreement which will carry on its validity.

India Newsletter • 7

Indian Embassy, Vienna

India Austria Business Forum and other Business interactions During the visit to India, H.E. Sebastian Kurz, Federal Minister of Europe, Integration and Foreign Affairs of Republic of Austria and H.E. Dr. Christoph Leitl, President of Federal Chamber of Commerce {WKO} of Austria, opened the IndiaAustria Business Forum in New Delhi on February 2016. The Forum was organized by FICCI in association with Trade Office of Austrian Mission in New Delhi and it sought to open up new business opportunities for companies from both countries.

“There is huge potential for stronger economic relations”, Foreign Minister Sebastian Kurz stated at the

8 • India Newsletter

opening event. Of the more than 500 Austrian companies are already active in India – the 7th largest national economy in the world – 130 have also established local subsidiaries. As Austrian business and industry is very export-oriented and is looking at focusing on new markets.

Following the Business Forum and talks in New Delhi, the delegation travelled to Bengaluru. In Bengaluru the delegation visited the subsidiary of the Austrian company Plansee.

On its more than 34 production sites worldwide, the company employs more than 6,250 staff. The products manufactured by Plansee India are mainly used in the automotive and electronics industry. In Mysore, the delegation visited the training

campus set up by Infosys, one of the world’s leading service providers in the fields of consulting, IT, software architecture and outsourcing. With its more than 193,000 staff, the company is also the second largest provider of IT-based services in India. The campus, which rather resembles a small city, is increasingly being managed according to “smart city” principles. The delegation also visited Wipro, one of the largest IT companies in India. The delegation also attended a business networking event hosted by Bangalore Chamber of Industry and Commerce.

The delegation also visited Mumbai where they attended an event organized by Indian Merchant Chamber.

Indian Embassy, Vienna

HIGHLIGHTS OF INDIA’S NATIONAL BUDGET 2016-17 Indian Finance Minister Arun Jaitley

more while focusing on the rural

on Monday, February 29, 2016

economy with much higher fiscal

presented India’s national budget

outlays. It is said to be Jaitley’s pro-

for 2016-17 in the Lok Sabha, which

poor, pro-make in India budget.

gave relief to small tax payers,

Key highlights of the budget are

nudged the affluent to shell out

hereunder:

India Newsletter • 9

Indian Embassy, Vienna

10 • India Newsletter

Indian Embassy, Vienna

BUDGET ROADMAP & PRIORITIES ■■ ‘Transform India’ to have a significant impact on economy and lives of people.

■■ Government to focus on – ■■ ensuring stability and management.

macro-economic prudent fiscal

■■ boosting on domestic demand ■■ continuing with the pace of economic reforms and policy initiatives to change the lives of our people for the better.

■■ Focus on enhancing expenditure in priority areas of - farm and rural sector, social sector, infrastructure

sector employment generation and recapitalisation of the banks.

■■ Focus on Vulnerable sections through: ■■ Pradhan Mantri Fasal Bima Yojana ■■ New health insurance scheme to protect against hospitalisation expenditure ■■ facility of cooking gas connection for BPL families ■■ Continue with the ongoing reform programme and ensure passage of the Goods and Service Tax bill and Insolvency and Bankruptcy law ■■ Undertake important reforms by: ■■ giving a statutory backing to AADHAR platform to ensure benefits

reach the deserving.

■■ freeing the transport sector from constraints and restrictions ■■ incentivising gas discovery and exploration by providing calibrated marketing freedom ■■ enactment of a comprehensive law to deal with resolution of financial firms ■■ provide legal framework for dispute resolution and renegotiations in PPP projects and public utility contracts ■■ undertake important banking sector reforms and public listing of general insurance companies undertake significant changes in FDI policy.

FOR FURTHER DETAILED INFORMATION ON INDIA’S NATIONAL BUDGET 2016-17, PLEASE VISIT

http://indiabudget.nic.in India Newsletter • 11

Indian Embassy, Vienna

OTHER IMPORTANT INDIA-AUSTRIA NEWS AIR INDIA launches new Delhi-Vienna flight starting April 2016 In order to give direct, non-stop connectivity to major cities of Europe and around the world, Air India is continuously streamlining its services launching a new flight to Vienna, the capital of Austria commencing from April 6, 2016. Air India is air-india-logogrowing on

domestic and international markets.

The flight will operate thrice a week, (Wednesday, Friday and Sunday) on AI’s Boeing 787. It will leave from New Delhi at 1400 hours (IST) and land at Vienna at 18:45 hours(local time). On the way back, the flight will leave Vienna at 22.45 hours and arrive in Delhi the next day at 09.25 hours(IST).

The flight offers connectivity to domestic as well as South East Asian

network with attractive fare options and to CEE with Star Alliance partner, the Austrian Airline.

This service will be Air India’s 8th European destination besides the existing network in Europe offering daily non-stop services by B787 Dreamliner to Frankfurt, Paris, Rome, Milan, Birmingham and Moscow; 4 times Day services to London (LHR), three from Delhi and one from Mumbai.

INDIA PERSPECTIVES MAGAZINE ONLINE

www.magzter.com/publishers/meaindia

12 • India Newsletter

Indian Embassy, Vienna

Extension of e-Tourist Visa (e-TV) scheme to Austrian citizens The Government of India has extended e-Tourist Visa (e-TV) scheme to the citizens of Austria w.e.f. 26th February 2016. Under e-Tourist Visa (e-TV) scheme, citizens of Austria may now apply online (https://indianvisaonline. gov.in/visa/tvoa.html) four days in advance to obtain the Electronic Travel Authorisation for travelling to India.This facility is in addition to the existing Visa services. This facility is also available to the citizens of Montenegro as well. e-TV scheme’s salient features are as under: ■■ Applicants may apply online minimum 4 days in advance of the date of arrival with a window of 30 days.

■■ The validity of e-TV will be 30 days from the date of arrival in India.

■■ Entry into India should be within 30 days from date of approval of Electronic Travel Authorization.

■■ e-TV is allowed for a maximum of two visits in a calendar year.

■■ e-TV once issued on arrival is only single entry, non-extendable, non-convertible& not valid for visiting Protected/Restrictedand Cantonment Areas.

■■ Applicant must carry a copy ofElectronic Travel Authorisation along with him/her at the time of travel.

■■ e-TV is valid for entry through 16 designated Airports i.e.

Ahmedabad, Amritsar, Bengaluru, Chennai, Cochin, Delhi, Gaya, Goa, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai, Tiruchirappalli, Trivandrum & Varanasi. However, the foreigner can take exit from any of the authorized Immigration Check Posts (ICPs) in India.

■■ Biometric details of the applicant will be mandatorily captured at Immigration on arrival in India.

■■ While applying, recent front facing photograph with white background and photo page of

Passport containing personal details like name, date of birth, nationality, expiry date etc. to be uploaded by the applicant. The application is liable to be rejected if the uploaded document and photograph are not clear / as per specification.

■■ e-TV fee is country specific. Bank transaction charges of 2.5% will be charged additional on applicable e-Tourist Visa fees. The fee must be paid at least 4 days before the expected date of travel otherwise application will not be processed.

■■ To know the fee applicable, please refer to the website of the Embassy of India, Vienna (http:// www.indianembassy.at/).

■■ e-TVfee once submitted is non-refundable as the fee is for processing of the application and is not dependent on either grant or rejection of visa.

■■ Applicants can track the status of their application online by clicking visa status. (https://indianvisaonline. gov.in/visa/visaenquiry.jsp).

■■ Please be careful while making payment of the e-TV fee. If the number of unsuccessful attempts is more than three (03), then the application id would be blocked and the applicant would be required to apply afresh by filling the application form again and regenerating a new application id.

■■ Before re-applying, the applicants are requested to wait for 4 hours for payment status updating, after final submission of the application form and payment of the fee. The

payment status updating may take up to 4 hours.

■■ e-TV of a foreigner who falls ill after his/her entry into India rendering him/her unfit to travel and who requires specialized medical treatment may be converted into Medical visa if he/she is eligible for the grant of Medical Visa and a medical certificate is obtained from a government/ICMR recognized hospital. In such cases, e-Tourist Visa of the attendant accompanying the foreigner (whose e-TV is converted into Medical Visa) may also be converted into Medical Attendant [MED X] visa co-terminus with the Medical Visa of the foreigner.

■■ Nationals of Yellow Fever affected countries must carry YELLOW FEVER VACCINATION CARD at the time of arrival in India; otherwise they may be quarantined for 6 days upon arrival in India. Please visit our Ministry of Health & Family Welfare’s latest guidelines regarding yellow fever countries.

■■ Important Technical Information for Online Visa application: This site is best viewed in Mozilla Firefox, Google Chrome and Internet Explorer (Windows) version 9.0 and above. The applicant must also have Adobe Acrobat Reader version 7.0 or higher installed on your PC in order to download and print the completed application form.

Queries related to e-TV; for any assistance call 24x7 Visa support centre at +91-11-24300666 or send email to indiatvoa@gov.in.

India Newsletter • 13

Indian Embassy, Vienna

India Stall at two major Austrian Trade Fairs: Austropharm (April/16) and Smart Automation (May/16) Embassy of India is going to participate in the AUSTROPHARM Exhibition ((http://www. austropharm.at/en/) to be held in Vienna from April 21-23, and on the SmartAutomation Austria Exhibition (http://www.smart-wien.at/en/) to be held in Vienna from May 10-12, by installing an “India Stall” with a view to further promote bilateral business between India and Austria, as well as to spread the awareness on the Government of India “Make in India” initiative.

The TAUSTROPHARM is the largest

14 • India Newsletter

trade fair for pharmaceutical products in Austria. In its last edition in 2014, the fair was a great success and numbers increased by 31.8% to 4,384 business visitors to its 143 exhibitors. The exhibition shall provide a comprehensive overview of goods and services in the industry, and is a highly efficient means of distributing and gathering information, and a hub of communication for exhibitors and trade visitors.

The SMART Automation Austria is Austria’s only trade fair for industrial automation, their focus is on the factory automation and process automation. The range extends from the component level through to complete systems and integrated

automation solutions and covers all product areas of industrial automation technology.

The SMARTAutomation Austria is the platform for the Austrian automation industry and place on an annual basis alternately in Vienna and Linz.

It attracts more than 200 exhibitors from 14 countries, including many market and technology leaders.

In the context of these events, a wide variety of publications issued by the Embassy as well as industry-related reports and company catalagues will be distributed.The Embassy looks forward to welcoming Austrian entrepreneurs in its India stall and discuss further possibilities to tighten the business ties between India and Austria.

Indian Embassy, Vienna

NEWS ARTICLES Indian economy to grow robustly at 7.4% next fiscal: OECD Indian economy will continue to see robust growth at 7.4 per cent in the next financial year even as only modest recovery is expected in advanced economies, Paris-based think tank OECD said.

The Organisation for Economic Cooperation and Development (OECD) has raised India’s growth forecast compared to 7.3 per cent expansion projected in November 2015.

“India will continue to grow robustly, by 7.4 per cent in 2016 and 7.3 per cent in 2017,” the think tank said in its latest Interim Economic Outlook report. In the case of India, 2016 refers to the fiscal starting from April this year. Earlier this month, India’s Central Statistics Office (CSO) said the country’s economy would grow at a 5-year high of 7.6 per cent in the fiscal ending March, overtaking a slowing China. Meanwhile, OECD said that with China expected to continue rebalancing its economy from manufacturing to services, growth is forecast at 6.5 per cent in 2016 and 6.2 per cent in 2017.

Brazil’s economy is experiencing a deep recession and is expected to shrink by 4 per cent this year.

In emerging market economies, monetary support should be provided where possible, taking into account inflation developments and capital market responses, the think tank said. As per OECD, the world economy is likely to expand “no faster in 2016 than in 2015, its slowest pace in five years”. Trade and investment are weak while sluggish demand is leading to low inflation, inadequate wage and employment growth, it added. Achieving strong growth in the global economy remains elusive, with only a modest recovery in advanced economies and slower activity in emerging markets, OECD said. This year, the

global economy is anticipated to expand 3 per cent and accelerate to 3.3 per cent in 2017. This is a sharp cut from estimated growth of 3.3 per cent projected in November 2015. The euro area is projected to grow at a 1.4 per cent this year.

OECD has also called for a stronger policy response, changing the policy mix to confront the current weak growth more effectively. “Sole reliance on monetary policy has proven insufficient to boost demand and produce satisfactory growth, while fiscal policy is contractionary in several major economies and structural reform momentum has slowed,” it noted.

Make in India: In 10 years, India will become biggest production base for SAAB, says Hakan Buskhe Hakan Buskhe, CEO of SAAB, the Swedish aerospace and defence manufacturer, is bullish on India.

SAAB wants to make India its biggest manufacturing hub, he tells ET’s Ketan Thakkar, Baiju Kalesh and Satish John in an interview. Buskhe shrugs off the recent setback of India settling for Dassault’s Rafale fighter jets instead of SAAB’s Gripen.

“I will not lose sleep over it,” he says wondering if the last word on the multi-billion dollar order has been said. Edited excerpts: ■■ Will ‘Make in India’ work?

This is one of the best branding campaigns anyone has done. The ‘Make in India’ brand has started to become extremely strong around the globe. We get to read news about Make In India in a very good way, exploring and describing the skilled workforce and potential ahead for India’s future.

■■ What is the growth potential for SAAB in India? Is India’s preference for Rafale over Gripen fighter jets a setback for you?

That is business. Some you lose and

some you win. I don’t know if they (Rafale’s maker Dassault) have won yet. Lets see. (Smiles). But I would rather talk about our products. It is a great need in India. You will, of course, have your own development plan for light combat aircraft. SAAB is the only company in the western world, Europe and North America that is building a new factory, building new submarines, new radars, etc. We are investing tonnes of money and we also do technology transfer.

So, for me the question is not if we are able to sell our systems to India.

We will have Indian products built in India, but that is something you can sell to the rest of the world.

That is our idea and then in the end, it is up to your government to decide the need. We try to be a good partner. The decision is theirs. I don’t have sleepless nights due to the Rafale deal. We have had tremendous development in the last year, increased our orders four times around the world. We have registered good growth. We are long-term players. Seeing is believing, that is why we are building up capability in India.

■■ How important is your new agreement with the Kalyani ( Bharat ForgeBSE 5.25 %) Group?

We are talking about missiles. We are the world’s leading supplier of missiles. Everything from ground base air defence systems to a range of other missiles. We have signed an agreement with the Kalyani Group for production and development of short-range, mid-short range missile programme and it may lead to other things.

■■ Are you talking to other private companies, including the Tata Group, for setting up defence JVs? We are talking to everyone. We will try to keep and find more partners.

India has many skilled companies.

Hopefully, we will be able to come back with new partners.

India Newsletter • 15

Indian Embassy, Vienna

■■ Which are the emerging growth opportunities for SAAB in India?

Missiles is one area where we could do more. We are discussing aviation, as we are already making aero structure parts. But, over time, we will develop more capabilities in aviation. My belief is that in 10 years India will be the biggest production and development base for SAAB

India will be a ‘star performer’ in 2016: PwC report India will be a “star performer” among emerging market economies and is expected to clock 7.7% growth in 2016, out- shining China for the second consecutive year, a PwC report says.

According to the global consultancy firm, of the emerging economies, only India is expected to grow faster in 2016 than its long-term average growth rate.

Among the seven emerging economies (China, India, Brazil, Mexico, Russia, Indonesia and Turkey), India will be a “star performer”, while the Brazilian and Russian economies will contract and China will slow down, the report said.

“For the second year in a row, we expect India to grow faster than China, expanding by around 7.7% in real terms,” it said.

While the G7 economies (the US, the UK, Japan, Germany, France, Italy and Canada) are expected to grow at fastest rate since 2010, led by the first two, the E7 emerging economies will grow slower than their trend rate (but still faster than the G7).

“We expect the US recovery to switch into a higher gear in 2016, while the UK will also enjoy continued consumer-led growth. We should also see at least the beginning of the end of the Eurozone crisis. The oncemighty BRICs, however, will have another tough year in 2016, with the notable exception of India,” PwC UK Chief Economist John Hawksworth said.

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According to PwC, the Chinese GDP growth will ease to 6.5% in 2016, as growth in manufacturing and exports will continue to slow gradually.

The report further noted that India will continue to reap the benefits of recent reforms.

“The cut in the policy rate by the Reserve Bank of India from 8% to 6.75% last year will help support consumption and investment growth this year,” PwC said, adding that FDI in the country’s “underdeveloped” manufacturing sector should also pick up as foreign investment caps have mostly been lifted.

Geopolitics, rather than economics, will be at the top of policymakers’ agendas, the report noted.

The migrant crisis in Europe, the response of the international community to the crisis in the Middle East and the ref- erendum on the fate of the UK’s membership of the European Union, will be the three major geopolitical issues to domi- nate the news headlines.

Meanwhile, commodity prices are expected to remain lower for longer.

“This will be a good news for most businesses, households and policymakers in commodity importing economies, but a challenge for countries that rely heavily on commodity exports,” the PwC report added.

IMF retains India forecast, cuts world growth The IMF has retained India’s growth projections at 7.5% for 2016-17 and 2017-18 each, even as it cut its forecast for the global economy by two percentage points for 2016 and 2017 calendar years on depressed oil and commodity prices.

The World Economic Outlook Update by the IMF came on a day when data showed that the Chinese economy slowed in December, capping the weakest quarter of growth since the 2009 global recession.

Though China’s economic growth

projections have been re- tained at 6.3 per cent and 6 per cent for 2016 and 2017 re- spectively, the economic expansion would come down from 6.9 per cent in 2015. On the other hand, Indian economy is ex- pected to grow at 7.3 per cent in 2015-16.

“Growth in China is expected to slow to 6.3 per cent in 2016 and six per cent in 2017, primarily reflecting weaker invest- ment growth as the economy continues to rebalance.

India and the rest of emerging Asia are generally projected to continue growing at a robust pace, although with some countries facing strong headwinds from China’s economic rebalancing and global manufacturing weakness,” the IMF said in the Update.

The Fund scaled down world economic growth at 3.4 per cent in 2016 and 3.6 per cent in 2017. The comparative fig- ures were 3.6 per cent and 3.8 per cent in the October outlook.

The IMF cut economic growth projection of emerging markets by 0.2 percentage points, higher than one percentage point in case of advanced economies, both for 2016 and 2017. However, global growth is likely to be marginally better in 2016 and 2017 compared with 3 per cent in 2015.

“The pickup in global activity is projected to be more gradual than in the October 2015 World Economic Outlook (WEO), especially in emerging markets and developing economies,” the IMF said.

The projected pickup in global growth in the next two years despite the ongoing slowdown in China - primarily re- flects gradual improvement in countries that are currently in economic distress, notably Brazil, Russia, and some coun- tries in west Asia. However, even the partial recovery could be frustrated by new economic or political shocks, the Fund said.

Advanced economies are expected to have grown by 1.9 per cent in 2015, slightly higher than 1.8 per cent a year ago. In 2016 and 2017,

Indian Embassy, Vienna

they are likely to grow by 2.1 per cent each.

Emerging market economies, on the other hand, expanded by about four per cent in 2015, much slower than 4.6 per cent a year ago. In 2016 and 2017, they would grow by 4.3 per cent and 4.7 per cent respectively.

The growth rate wit- nessed in 2014 is expected to somewhat return only in 2017.

In advanced economies, the Fund said, a modest and uneven recovery is expected to continue, with a gradual further narrowing of output gaps.

On the other hand, “The picture for emerging market and developing economies is diverse but in many cases challeng- ing. The slowdown and rebalancing of the Chinese economy, lower commodity prices, and strains in some large emerg- ing market economies will continue to weigh on growth prospects in 201617,” it said.

Even as IMF retained growth projections for India’s economy for the current financial year, it should be noted that it represents stagnation in growth compared to 2014-15. Besides, it also implied that the growth would be only bit higher in the second half of the current financial year, since the first half yielded expansion at 7.2 per cent.

India’s finance ministry now expects the economy to grow 7-7.5 per cent in the current financial year against 8.1-8.5 per cent projected by it earlier.

Data provided by IMF also showed that India will have to diversify its exports to developing countries since they would see increase in their imports in 2016 and 2017 compared to 2015.

World trade in volume terms was projected to grow by 3.4 per cent in 2016, 0.7 percentage points lower than earlier estimates, and 4.1 per cent in 2017, slower by 0.5 per centage points over the October estimate. The growth was 2.6 per cent in 2015. Imports into the advanced world, were forecast to increase 3.7 per cent in 2016, which

would be less by 0.5 percentage points over previous estimates, and 4.1 per cent the next year, lower by 0.4 percentage points than the Octo- ber estimates. The imports were projected to have grown 4 per cent in 2015.

Imports into the emerging markets and developing economies, on the other hand, were projected to grow 3.4 per cent and 4.3 per cent in 2016 and 2017, respectively against earlier estimates of 3.5 per cent and 5.4 per cent respectively. The imports were expected to have risen just 0.4 per cent in 2015. Merchandise exports from India shrank for the 13th straight month in December, longest-ever such decline in the recent history.

Bajaj Auto to enter 12 new export markets by March end Bajaj Auto Ltd, India’s largest exporter of motorcycles and three wheelers, will enter a dozen new export markets by end of March, a top company official said in an interview.

The maker of Pulsar and Avenger motorcycle brands has reported a decline in exports volume in the last few months because of political and economic uncertainties in some of its export markets, particularly in oil-producing emerging markets.

Bajaj plans to maintain its leadership in the export market by expanding into newer markets— a plan that some analysts are skeptical about given the current stress on emerging market economies and their currencies.

Rakesh Sharma, president of international business at Bajaj Auto, said the company is executing an aggressive expan- sion plan to get into newer countries. This, coupled with the recent market share gains, will hold the firm in good stead and minimize the impact of any macroeconomic headwinds.

“By end of fiscal 2016, we should enter a dozen new export markets,” said Sharma, declining to give

further details. This will help the firm report a growth of 13-15% in export volumes over the next 3-4 years, he added.

Exports, which account for more than four out of 10 motorcycles made by the company, have been under pressure lately. In the eight months from April to November, Bajaj’s motorcycles exports dropped 3.7% to 1.04 million units from a year earlier, according to Society of Indian Automobile Manufacturers or Siam. Even in December, exports fell 12% to 145,000 units, Bajaj said in a statement on 4 January.

Sharma attributed this to factors including shortage of foreign exchange and currency devaluation in emerging mar- kets such as Egypt and Nigeria in Africa. Africa accounts for 45% of Bajaj Auto’s total exports.

A fall in commodity prices has led to a lower inflow of foreign currency into these markets, which, in turn, is preventing dealers from stocking up.

The value of the currency in a number of these markets has also fallen sharply. Currencies in Argentina, Mexico, Co- lumbia—some of the key markets for Bajaj—have fallen by 32%, 11%, 18%, respectively, according to Bloomberg.

But Sharma maintains that the company has a leadership position in most of the markets it has a presence in and this has helped the company maintain its prices in these markets.

“Whatever work we have done in the past years in terms of building the channel and after sales and service is paying off now,” said Sharma adding that Bajaj Auto has managed to retain the retail price in these markets to a great extent despite weakness in the currencies.

Analysts however, are not as bullish and expect export volumes to remain under pressure, which will also have an ad- verse impact on margins.

Considering that currencies in other emerging markets have fallen more sharply than the Indian rupee, the benefits of a depreciated India Newsletter • 17

Indian Embassy, Vienna

Indian rupee will be erased for the company, said an analyst at a brokerage declining to be identified.

The Indian rupee has weakened 5.5% against the dollar in the nine months to December.

“Three months back, the management had guided for a 2 million export volume (including three wheelers) targets for fiscal 2016. Given the current macroeconomic scenario, they won’t be able to do more than 1.8 million units,” said the analyst cited above.

While the March quarter may look good for the company because of a low base from last year, in absolute sense, the volumes are unlikely to advance, he added.

Nitesh Sharma, an analyst at Philip Capital India Pvt. Ltd added that while entry into newer markets will help the firm de-risk itself geographically, volumes will remain under pressure.

Since the start of the financial year, Bajaj Auto stock has gained 24%, while the Sensex has slipped 8.94%.

On Wednesday, Bajaj Auto fell 0.46% to Rs.2,485.50 on BSE, while the exchange’s benchmark Sensex fell 0.68% to 25,406.33 points.

Indian luxury market to cross $18.3 billion by 2016: Assocham An Assocham study stated that with the increasing brand awareness and growing purchasing power of the upper class in tier II and III cities, Indian luxury market is expected to cross $18.3 billion by 2016 from the current $14.7 billion.

“The factors that have fuelled the luxury industry’s growth are rising disposable incomes, brand awareness amongst the youth and purchasing power of the upper class in Tier II & III cities in India,” said DS Rawat, secretary general, Assocham.

Areas such as five star hotels and fine-dining, electronic gadgets, luxury personal care, and jew- elry performed well in the year of 2015 18 • India Newsletter

and are ex- pected to grow by 3035% over the next three years. Big ticket spends such as on luxury cars mainly SUVs are likely to continue, growing upwards of 18- 20% over the next three years, driven by consump- tion in smaller towns and cities.

With the luxury market expected to grow at over 25% year on year, private equity investments (PE) in the luxury segment are expected to increase and support the enhanced size of the Indian luxury mar- ket.

The chamber paper segregated the luxury sector into products: apparel and accessories, pens, home decor, watches, wines and spirits and jewellery, services: spas, concierge service, travel & tourism, fine dining and hotels and assets: yachts, fine art, automobiles.

According to the study, the high internet penetration across tier-II and tier-III cities along with high disposable income shall lead to approx 100 million transactions on the Internet by 2020. As a result, the luxury consumption is going to increase manifold in the country.

The size of the High Income group (HIG) consumers continues to grow and they spend over 40% of their monthly in- come on some of the world’s largest luxury brands whereas the middle income group (MIG) consumers spend 8-10% of income on luxury products, reveals the Assocham survey. Globally too, consumer spending is on the rise, expected to reach $ 40 trillion by 2020 with an unprecedented growth of $ 12 trillion in a decade, added the report.

Luxury jewelry, electronics, SUV cars and fine dining have grown beyond expectations, while apparel, accessories, wines and spirits have continued their strong growth in 2016, according to the Assocham assessment.

Consumption of branded wine is also likely to register over 30% increase in the metro cities.

Some of the significant players across various verticals who performed well in 2015 included -

GUCCI, Christian Dior, Louis Vuitton, Canali India, LVMH India, Judith Leiber, The SPA Group, Starwood Asia Pacific Hotels & Resorts, and Reliance Brands.

The aspiration and disposable income of consumers in India is on the rise, the purchasing power of women has im- proved, and men are fast emerging as a separate consumer category. As per the estimate, luxury beauty products mar- ket has been growing at average 28% over the last three years.

The survey was conducted in major places like Delhi, Mumbai, Kolkata, Chennai, Ahmedabad, Hyderabad, Pune, and Chandigarh. A little over 250 employees were selected from each city on an average. In 2015, Delhi ranked first in spend- ing most on luxury brands followed by Mumbai (2nd), Ahmedabad (3rd) Pune (4th) and Bangalore (5th).

Around 55% of the survey respondents were under the age bracket of 20-29 years, followed by 30-39 years (26%), 40-49 years (16%), 50-59 years (2%) and 60-65 years.

Rawat further said that the slowdown in the economy has not affected the spending patterns of high income group (HIG), with many of them stating that maintaining their lifestyle is an extremely important facet of their social life.

According to survey majority of women tend to make purchasing decisions around cosmetics, perfumes, spa treat- ments, clothes, footwear, bags and jewelry. Men on the other hand mostly decide on purchases related to alcohol, watches and automobiles.

A majority of survey respondents said they purchase luxury items during overseas trips, with cosmetics, watches, bag, and perfumes etc.

Nearly 85% of potential consumers search for luxury brands on the internet at least once a month.

There are also increasing signs of changing consumption patterns in major cities.

The demand for luxury goods in metros are booming as incomes

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continue to rise. The survey also reveals the role of digital media and the extent to which it is being used as a tool to engage high-end consumers. Indian Luxury market is poised to expand five fold in next three years and the number of millionaires expected to multiply three times in another five years.

Many of the major luxury brands are continuing with their current investments, despite the ongoing global economic slowdown, women are an important target market for luxury players, as their purchasing power rises and start to seek a wider range of products, adds the survey.

Over 69% of survey respondents said they prefer to purchase well known luxury brands, whilst 65% separately indi- cated they would pay a premium for well-known, popular luxury brands.

XXX Expecting Indian economy to continue to improve, top banker Chanda Kochhar today said India is in a “sweet spot” amid the global economy witnessing a low-growth and low-inflation environment.

She said private investments are expected to soon witness an uptick but strengthening the institutional framework is also important to support stable and sustained high growth in the economy.

“In this regard, measures like GST and Bankruptcy Law are important steps,” Kochhar told PTI in an interview here at the World Economic Forum (WEF) Annual Meeting.

Asked about her outlook for Indian economy, especially in the wake of continuing problems in China and other global headwinds including from low commodity prices, the ICICI Bank Managing Director and CEO said, “I expect the Indian economy to continue to improve, building on the macro-economic stability that we have achieved and the various policy initiatives of the government which will drive new growth opportunities”.

She further said the world economy is experiencing “a low growth low inflation environment”.

“India’s fiscal situation has improved due to reduction of fuel subsidies on account of lower oil prices. Lower commodity prices have led to an improvement in the current account deficit and also reduced inflation levels in the economy,” Kochhar noted.

According to her, there also exists considerable potential for investment in infrastructure and other sectors and the government has increased its capital spending to improve the investment cycle in the economy.

“Government reforms are being implemented to attract capital and support economic growth.

And finally, India enjoys strong demographic dividend to be harnessed and also provides a large domestic market,” Kochhar said.

As implementation of reform measures and the various initiatives announced by the government begin to take root, it will lead to rapid growth and also have a multiplier impact on new investment opportunities and consumption in the economy, she added.

When asked about comments from IMF, World Bank and the top government leaders that India is the bright spot in a gloomy global economy, Kochhar said she agrees with those views.

“Yes, I agree that India is in a sweet spot today. India’s macroeconomic parameters indicate a strengthened external position and improving domestic economic conditions.

However, to strengthen this position further, the domestic investment cycle should pick up,” she said.

International auto-part firms eye India The growth potential in the underserved Indian automobile market and the consequent demand for auto components has drawn a lot of interest from foreign manufacturers who attended the Auto Expo-

Component Show in the capital.

A total of 600 international component firms showed a range of automobile components and solutions to tap into the rising domestic market, especially the passenger vehicle segment.

In the previous edition of the Component Show in 2014, 450 foreign exhibitors had participated.

The total number of exhibitors, including domestic ones, has grown to 1,500 now against 1,200 in the previous edition.

Vinnie Mehta, director-general of Automotive Component Manufacturers Association, a local body, said there was rising interest in international manufacturers to understand trends in India.

Bajaj entry-level bike Bajaj Auto launched a new variant of its entry-level motorcycle CT100 priced at Rs 30,990 (ex-showroom Delhi).

The new variant, CT100B, delivers a fuel economy of 99.1 kmpl (kilometre per litre) and comes with a two-year warranty, the company said in a statement.

79,000 visit Auto Expo A total of 79,000 visitors came to the Auto Expo as it opened to the public on Friday. The first day of last Expo in 2014 had seen 75,000 visitors. The Expo ends on Tuesday. Siam (Society of Indian Automobile Manufacturers) expects a total footfall of 700,000 at the Expo against 560,000 a year ago.

The Expo at Pragati Maidan has eight dedicated international pavilions — China, Japan, Taiwan, South Korea, Canada, the UK, France and Germany. The French and South Korean pavilions are an addition over the last Expo.

A representative of the South Korean delegation said there was keenness among industry players to work with the Indian automobile industry. A total of 11 South Korean players are displaying components, especially electronic auto components, where the dependence on imports is significantly high.

India Newsletter • 19

Indian Embassy, Vienna

Manufacturers from the UK are participating under the aegis of SMMF, the British counterpart of ACMA, to explore opportunities in Indian automotive manufacturing.

British companies want to invest in India, put up manufacturing facilities for electric cars and also collaborate in R&D for efficient fuel solutions.

Arvind Balaji, ACMA president and joint managing director of component maker Lucas-TVS, said, “This is the second year when the Component Show is being organised separately from the Motor Show.

It has given us more space and attracts focused visitors. We have had a record 1,500 participations this time. This shows that India is a market of the future. Everybody wants to establish a position in the country.” The rising focus of international players means greater competition for quality and market share for the domestic players, many of which have a tie up with foreign companies.

Another highlight of the show is the Innovation Pavilion, spread over 100 square metres, and created to draw attention to the latest innovations which auto component companies have indigenously designed, developed, tested and validated in India. Companies such as Sona Koyo, Lucas-TVS and Brakes India showcased their innovations.

ACMA has chosen ‘Make Quality & Technology in India’ as its theme this year. The component industry also made efforts to raise awareness about counterfeit products being sold in the replacement market through its ‘Asli-Naqli’ pavilion.

The $38.5-billion component industry gets almost 30 per cent of its revenue from exports. The Automotive Mission Plan (AMP 2026), unveiled by the government last year, has set a target of a turnover of $223 billion by 2026 for the auto components sector, backed by strong exports ranging between $80-100 billion, from the current $11.2 billion.

TCS rated world’s most powerful brand in IT services, as per Brand Finance’s 2016 annual report Tata Consultancy Services Limited (TCS), one of the top multinational information technology (IT) firms in India, has been rated as the world’s most powerful brand in IT services sector by Brand Finance, a leading global brand valuation firm. Brand Finance’s 2016 annual report ranks TCS as the IT services industry’s most powerful brand with a score of 78.3 points and a rating of AA+. According to the report, TCS is also the fastest growing brand within the IT industry over the past six years, as its overall brand value has increased from US$ 2.34 billion in 2010 to US$ 9.4 billion in 2016. To arrive at the brand value, Brand Finance evaluated the world’s top brands by scoring them on a wide variety of measures such as familiarity, loyalty, staff satisfaction and corporate reputation, in order to determine the most powerful and the most valuable brands globally.

The report also rates Disney as the most powerful brand and Apple as the most valuable brand for 2016.

India tops global confidence index India topped Nielsen’s global consumer confidence index for the fourth quarter in a row in 2015.

But the catch was that it continued to show signs of a recessionary sentiment for the third straight quarter.

Nielsen’s report showed that India’s consumer confidence index for the fourth quarter of 2015 was 131, ahead of the Philippines (117), Indonesia (115) and Thailand (114).

But 50 per cent of the people polled said India was still in an economic recession, implying recessionary sentiment was strong.

While this was lower than the 54 per cent reported in the third quarter of 2015, it was equal to the figure reported in the second quarter and higher by six percentage points to the figure reported in the first quarter.

Nielsen said this was a sign of weakness due to external factors.

Nonetheless, most key global economies appeared to be pessimistic in the fourth quarter, pointing to depressed market conditions. China’s confidence index for the fourth quarter, for instance, was 107, up one point only from the third quarter.

Countries such as the UK, the US, Germany and Japan showed quarteron-quarter decline in confidence, indicating the consumer’s state of mind.

UK’s confidence index was 101, USA’s 100, Germany’s 98, and Japan’s 79 for the quarter under review.

INDIAN EMBASSY LIBRARY ■■ The Embassy’s library is opened daily from 10am to 1pm without appointment.

■■ Our collection contains more than 2000 titles in dozens of categories.

■■ For appointments outside the opening hours or other inquiries, please contact us under info.vienna@mea.gov.in or 015058666 33 ■■ Download our latest catalog of books under indianembassy.at/pdf/ EmbassyLibrary.pdf 20 • India Newsletter

Indian Embassy, Vienna

MAKE IN INDIA Summary ■■ Third largest pharmaceuticals market by 2020 in terms of incremental growth.

PHARMACEUTICALS

■■ 20% of global exports in generics, making it the largest provider of generic medicines globally.

■■ USD 45 Billion in revenue by 2020, revenue of USD 55 billion by 2020 as base case, and can grow to USD 70 billion in a aggressive case scenario.

■■ USD 26.1 Billion in generics by 2016.

■■ USD 200 Billion to be spent on infrastructure by 2024.

■■ India’s filing of Drug Master Files’s (DMF’s) with USFDA as of Dec 2013 is 3411, the highest filed by any country in the world.

■■ Total exports of Drugs, Pharmaceuticals for 2013-14 at USD 15,095 million, recording a growth rate 2.5% over the corresponding period of previous years.

Reasons to Invest ■■ India is expected to rank amongst the top three pharmaceutical markets in terms of incremental growth by 2020.

■■ India will become the sixth largest market globally in terms of absolute size by zero.

■■ India’s generic drugs for 20% of global exports of volume, making the the largest provider of medicines globally.

account in terms country generic

■■ India’s cost of production is significantly lower than that of the USA and almost half of that of Europe.

■■ A skilled workforce as well as high managerial and technical competence.

■■ Economic prosperity is likely to

improve affordability for generic drugs in the market.

■■ Approval time for new facilities has been drastically reduced.

Statistics ■■ The country’s pharmaceuticals industry is expected to account for about 3.1-3.6% of the global pharma industry by value and currently accounts for 10% by volume, by 2016.

■■ Industry revenues are expected to expand at a CAGR of 12.1% during 2012-20 and reach USD 45 Billion.

■■ The healthcare sector in India is expected to grow to USD 250 Billion by 2020 from USD 65 Billion currently.

■■ The generics market is expected to grow to USD 26.1 Billion by 2016 from USD 11.3 Billion in 2011.

Growth Drivers ■■ Between 2011 and 2016, patent drugs worth USD 255 Billion are estimated to go off-patent leading to a huge surge in generic product and tremendous opportunities for companies.

■■ By 2020, it will grow to USD 11 billion - a CAGR of 18%, with the potential to reach USD 13 billion - at an aggresive CAGR of 20%.

■■ With increasing penetration of chemists, especially in rural India, OTC drugs will be readily available.

■■ Pharma companies have increased spending to tap rural markets and develop better infrastructure. The market share of hospitals is expected to increase from 13.1% in 2009 to 26% in 2020.

■■ Following the introduction of product patents, several multinational companies are expected to launch patented drugs in India.

■■ The purported rise of lifestyle diseases in India is expected to boost industry sales figures.

■■ Over USD 200 Billion is to be spent on medical infrastructure in the next decade.

■■ Rising levels of education are set to increase the acceptability of pharmaceuticals.

■■ India’s patient pool is expected to increase to over 20% in the next 10 years, mainly due to the rise in population.

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Indian Embassy, Vienna

FDI Policy ■■ 100% Foreign Direct Investment (FDI) is allowed under the automatic route for greenfield projects.

■■ For brownfield project investments, up to 100% FDI is permitted under the government route.

■■ The government may incorporate appropriate conditions for FDI in brownfield cases, at the time of granting approvals.

■■ ‘Non-compete’ clauses are not allowed except in special circumstances, with the approval of the Foreign Investment Promotion Board.

■■ The FDI is subject to applicable regulations and laws.

Sector Policy ■■ The National Pharmaceutical Pricing Policy, 2012 (NPPP-2012) has been notified on December 7, 2012.

■■ The salient features of the NPPP2O12 are as under: ■■ The regulation of prices of drugs on the basis of the essentiality of drugs as specified under the National List of Essential Medicines (NLEM)- 2011.

■■ The regulation of prices of drugs on the basis of regulating the prices of formulations only.

■■ The regulation of prices of drugs on the basis of fixing the ceiling price of formulations through Market Based Pricing.

■■ The provision of exemptions to drugs manufactured through indigenous R&D from price control for five years.

■■ A Drug Price Control Order 2013 has been notified in May 2013 to implement the provisions of NPPP2012.

Financial Support ■■ KEY PROVISIONS IN THE 2O1516 UNION BUDGET ■■ SETU (Self Employment and Talent Utilization) to be established as a techno-financial, incubation and facilitation programme to support 22 • India Newsletter

all aspects of a startup business. INR 10 Billion to be set aside as initial amount in NITI. ■■ Atal Innovation Mission (AIM) to be established in NITI to provide an Innovation Promotion Platform involving academicians, and drawing upon national and international experiences to foster a culture of innovation, research and development. A sum of INR 1.5 Billion will be earmarked.

■■ The threshold limit for applicability of transfer pricing regulations to specified domestic transactions increased from INR 0.05 billion to INR 0.2 Billion.

■■ Service Tax exemption for common effluent treatment plant operators.

■■ Rate of income tax on royalty and fees for technical services reduced from 25% to 10% to facilitate technology inflow.

■■ Time limit for taking CENVAT credit on inputs and input services have been increased from six months to one year.

■■ EXPORT INCENTIVES HAVE BEEN ENVISAGED IN THE FOLLOWING SCHEMES: ■■ Focus product scheme.

■■ Special focus product scheme.

■■ Focus market scheme.

■■ Export promotion capital goods scheme.

■■ AREA-BASED INCENTIVES: ■■ Incentives for units in SEZ/NIMZ as specified in respective acts.

■■ Setting up of projects in special areas such as the North-east, Jammu & Kashmir, Himachal Pradesh and Uttarakhand.

■■ UNITS IN CLUSTERS: ■■ A scheme for the development of common facilities like effluent treatment, testing centres etc.

■■ STATE INCENTIVES: ■■ Besides the above, each state in India offers additional incentives for industrial projects.

■■ Incentives are in areas like subsidised land cost, relaxation in stamp duty on sale/lease of land,

power tariff incentives, concessional rate of interest on loans, investment subsidies/tax incentives, backward areas subsidies, special incentive packages for mega projects etc.

■■ R&D BENEFITS: ■■ Industry/private sponsored research programmes: ■■ A weighted tax deduction is given under section 35 (2AA) of the Income Tax Act. ■■ A weighted deduction of 200% is granted to assesses for any sum paid to a national laboratory, university or institute of technology, or specified persons with a specific direction provided that the said sum is used for scientific research within a programme approved by the prescribed authority.

■■ Companies engaged in manufacture having an in-house R&D centre: ■■ Weighted tax deduction of 200% under section 35 (2AB) of the Income Tax Act for both capital and revenue expenditure incurred on scientific research and development.

Expenditure on land and buildings are not eligible for deduction.

■■ A national centre to help develop bulk drugs and facilitate their research is being set up in Hyderabad.

■■ Duty free import of Pharmaceuticals reference standards.

Investment Opportunities ■■ India is expected to be the third largest global market for active pharmaceutical ingredients by 2016, with a 7.2% increase in market share.

■■ Indian pharma companies registered 49% of overall DMF filed in the US in 2012.

■■ The Contract Research and Manufacturing Services industry – estimated at USD 8 Billion in 2015, up from USD 3.8 Billion in 2012. The market has more than 1000 players.

■■ The formulations industry – India is the largest exporter of formulations with 14% market share and ranks 12th in the world in terms

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of export value. Double-digit growth is expected over the next five years..

■■ Johnson & Johnson (USA) ■■ Otsuka Pharmaceutical (Japan)

■■ Bulk Drug Association

Foreign Investors

AstraZeneca (Sweden-UK) Agencies

■■ Pharmexcil

■■ Teva Pharmaceuticals (Israel) ■■ Nipro Corporation (Japan) ■■ Procter & Gamble (USA) ■■ Pfizer (USA) ■■ Glaxo Smith Kline (UK)

■■ Department of Pharmaceuticals, Ministry of Chemicals & Pharmaceuticals ■■ Indian Drug Manufacturers Association

■■ Federation Entrepreneurs

Manufacturers

of

■■ Confederation of Pharmaceutical Industry

Pharma Indian

■■ Indian Pharmaceutical Alliance

PERSPECTIVES ON INDIA 17 Factors that makes a Country Reputable Mr Satish Kota, Fouder , ReputationXL & Testimonialsfor The Country RepTrakTM from Reputation Institute released in July 2015 ranked top 55 countries (by GDP as per IMF) by their Reputation score and value. The report ranked Canada as the most reputed country and placed India at 33rd Position.

The ranking was based on survey conducted with 48000 people from G8 countries who gave their external perception of countries. Also the Country RepTrak also created a ranking for Internal Reputation for countries which was based on the Self-Image Analysis or Citizen Perception of the country. Under this segment the report ranked Australia as the most reputed and placed India at the 4th Position.

To execute the report, Reputation Institute identifies 17 key factors or areas that define the basic foundation of a country’s reputation. These 17 factors were classified into 3 Dimensions viz.

Effective Government, Appealing Environment and Advanced Economy and the surveys conducted are based on these 17 factors. The following provides insights of the 3 dimensions and the factors under each dimension.

■■ Effective Government This dimension identifies what people think about the role of the government towards promoting the country to the world. The

government plays a major role in attracting people (visitors and investors) into the country by means of easy and flexible policies and opportunities. The following are the 7 factors classified under this dimension Safe Environment: The country is a safe place. It offers a secure environment for visitors and residents.

International Participation: The country is a responsible participant in the global community It supports good causes and its leaders are respected internationally.

Ethical Country: The country is an ethical country with high transparency and low corruption.

The government conform to the accepted standards of social and professional behaviour.

Social & Economic Policies: The country has adopted progressive social and economic policies. It is concerned with improving the well-being of all of its citizens.

The Government change for the betterment of the citizens.

Institutional Environment: The country is run by an effective government. It has a well-developed structure of political and legal institutions. They can take policy decisions effectively and in force.

Efficient use of Public Resources: The country operates efficiently. It does not impose unnecessary taxes or waste resources.

Business Environment: The country offers a favourable environment for doing business. It has a stable

and low-risk economy and a welldeveloped infrastructure. Foreign investors can easily to invest into the country and operate a business without much effort.

Scores for Effective Government Dimension for 2015

■■ Appealing Environment This dimension is related to the people i.e. citizens of the country.

It identifies the role of the citizens of the country and their behaviour towards visitors. The following are 4 factors classified under this dimension Friendly & Welcoming People: The people of country are friendly and welcoming.

Beautiful Country: The country is a beautiful country. It has an attractive natural environment. The country is rich in history, culture and environment that interests visitors Appealing Lifestyle: The citizens India Newsletter • 23

Indian Embassy, Vienna

lead a good lifestyle in the country.

Their personal values and attitudes are respected. People enjoy living there Enjoyable Country: The country is an enjoyable country – it offers a wide array of appealing experiences such as culture, food, sport, and entertainment. One can be happy to migrate to this country.

Scores for Appealing Environment Dimension for 2015

many brands from the country that are well known across the world.

Innovations happen in the country either in form of innovative products or in form of the way business is executed.

Values Education: The country values education. It has high quality universities and has an excellent education system (provides minimum education to all its citizens) Technology: The country is technologically advanced. It is among the first to create and to commercialize new technologies.

The country well developed, industrialized and well-established Scores for Advance Dimension for 2015

Economy

■■ Advance Economy This dimension identifies what the country offers to the world. It defines the type of companies spawned and the products produced that could be used by the other parts of the world. The following are 6 factors classified under this dimension.

Contributor to global Culture: The country is an important contributor to global culture –many well-known artists, scientists, inventors, writers, athletes (translation: sports people), and politicians were born there Quality Products & Services: The country produces great products or provides reliable services. Their products are very well known to the other parts of the world.

Well-Educated & Reliable Workforce: The country offers skilled and knowledgeable work force to execute business activities.

The citizens have necessary skills (communication and execution) and can be trained easily.

Well-known Brands: There are 24 • India Newsletter

■■ Why is Reputation important for a country?

The reputation of a country has direct impact on the performance of the country. It influences the stakeholder’s behaviours into taking decisions related to various activities. The various behaviours or declared intentions are Visit, Work, Invest, Buy, Live, Study & Attend/ Organize. Countries with good reputation ■■ Welcome more tourists (Visit Behaviour) ■■ Increase Exports (Buy Behaviour) ■■ Improve their public diplomacy (Live Behaviour)

■■ Attract FDI (Invest Behaviour) ■■ Attract Foreign Talent (Work Behaviour) ■■ Attract Behaviour) ■■ Increased Engagement Behaviour)

Knowledge

(Study

Interaction & (Attend/Organize

■■ Inference “Country’s Reputation is important for the growth of the economy. It becomes necessary for FDI, Tourism, Exports, Diplomacy and Talent finding. It defines the intention to visit and then visit.” Says Fernando Prado of Reputation Institute India has seen a positive trend and has an overall growth of 7.4% in its reputation compared to the negative trend it saw in the last 3 years. There has been a positive change in almost all factors especially with all the factors relative to the Effective Government dimension showing a big change compared to other 2 dimensions. One reason could be because of the new government as well as the new policies that has been unveiled in the near past (Make in India, Digital India, Skill Development, etc.). However the flip side of it is that India has marginally lost its reputation of being a beautiful country by about 1.5%.

The country’s reputation is directly dependent on the reputation of the companies operating in the country.

If the reputation of these companies is improved, then the country’s reputation shall also improve.

Companies need to get their reputation assessed and identify where they stand i.e. what does the world perceive about them.

Once identified, they could perform necessary activities to improve their brand, image and their reputation.

ReputationXL can help doing those assessments.

Indian Embassy, Vienna

INDIAN STATE ECONOMIC PROFILE ANDHRA PRADESH ■■ Andhra Pradesh (AP) is located in the Southern peninsula of India and has a coastline of 974 km. The state of Andhra Pradesh is bound by Chhattisgarh on the north, Odisha on the northeast, Telangana and Karnataka on the west, Tamil Nadu on the south, and the Bay of Bengal on the east.

■■ The erstwhile state of Andhra Pradesh has been bifurcated into two states, Telangana and residuary Andhra Pradesh (Seemandhra), by the Andhra Pradesh Reorganisation Act, 2014 or the Telangana Act. The act consisted of the aspects of division of assets and liabilities, the boundaries of the proposed new states and status of the capital city Hyderabad after the separation of the state.

■■ The state has well-developed social, physical and industrial infrastructure and virtual connectivity. It also has good power, airport, IT and port infrastructure.

At current prices, Andhra Pradesh’s gross state domestic product (GSDP)

was estimated at US$ 85.8 billion over 2014-15. Between 2004-05 and 2014-15, the average annual GSDP growth rate was 11 per cent.

■■ The Government of Andhra Pradesh has proposed a budget of US$ 18.75 billion for FY 2015-16.

Special emphasis has been laid in the expenditure budget on education (US$ 2.48 billion), rural development (US$ 1.36 billion), irrigation (US$ 872 million) and energy sector (US$ 723.3 million). Under 2015-16 state budget, the Government of Andhra Pradesh announced to invest US$ 491.04 million for the development of roads and buildings in the state.

■■ As of March 2015, the state had 29 operational SEZs in the state across diversified sectors which include textiles and apparel, food processing, footwear and leather products, multi-product, pharma, IT SEZs etc. (confusion regarding number of SEZs, see this link http://www.apiic.in/sezs-inandhrapradesh.html) ■■ Seemandhra, comprising Rayalaseema and coastal Andhra,

has most of the power projects of undivided Andhra Pradesh. Coalbased power plants are mostly located in the state due to proximity to the ports. Andhra Pradesh had a power generation capacity of nearly 20,745 MW. ■■ It is the first state in the country to have enacted the Industrial Single Window Clearance. The Act made it compulsory for new industries to register with the single-window to obtain clearances quickly. It also simplified procedures for getting industrial clearances. The state also has separate acts for development in sectors such as solar power, electronic hardware and food processing.

■■ The state has a large coast line of nearly 974 kms, temple destinations, lush green forests and spicy cuisine which have led to increase in domestic tourism in the last few years. Andhra Pradesh is one of the largest producers of brackish water shrimps and freshwater prawns and contributes more than 20 per cent to the country’s total marine exports.

India Newsletter • 25

Indian Embassy, Vienna

INDIAN TRADE FAIRS INTERESTED IN VISITING A TRADE SHOW IN INDIA? In case your company is interested in visiting a tradeshow/B2B event in India, be it one listed here or another one that came to your attention, get in contact with us via maoffice.vienna@mea.gov.in to get more information about possible assistance/subsidies.

26 • India Newsletter

Indian Embassy, Vienna

India Newsletter • 27

Indian Embassy, Vienna

28 • India Newsletter

Indian Embassy, Vienna

INVEST INDIA Federation House, Tansen Marg New Delhi—110 001 0091-11-23765085, 23487278 investindia@ficci.com www.investindia.gov.in

I

policy and Promotion, Ministry INVESTMENT of Commerce & Industry) and State Governments of India (0.5% The National Investment and Infrastructure Fund(NIIF)

■■ Objective: ■■ To maximize economic impact mainly through infrastructure development in commercially viable projects, both Greenfield and Brownfield, including stalled projects.

■■ Other nationally important projects in manufacturing, if viable commercially ■■ Structure: ■■ The NIIF will be established as one or more Alternate Investment Funds (AIF). It refers to any fund established or incorporated in Indian in the form of a Trust or a Company or a LLP or a body corporate. AIF shall raise funds only through private placement

nvest India is the country’s official agency dedicated to investment promotion and facilitation. Set up as a joint venture between FICCI (51% and cannot accept from any equity), DIPP (35%funds equity held investor (Indian or Foreign) whose by the Department of Industrial value is less than 1 crore Indian Rupees and is prohibited from making application to public for subscription to its securities. AIF can be of three categories; ■■ Category I: Investment in Start-ups, SMEs, infrastructure or social ventures ■■ Category II: Investment in private equity and debt funds

each), its mandate is to become the first reference point for the global investment community.

It provides granulated, sectorspecific and state-specific information to a foreign investor, assists in expediting regulatory approvals, and offers hand-holding services. Its mandate also includes assisting Indian investors make informed choices about investment opportunities overseas.

■■ Category III: Primarily for hedge funds, which use complex strategies or leverage to invest in unlisted derivaties and trade with a view to make short-term returns India Newsletter • 29

Indian Embassy, Vienna

TOURISM The Exhilarating High Road to Pangong Tso

by Hugh & Colleen Gantzer.

The night before, it had snowed in the mountains.

Then, when we woke at four the next morning, our hearts leapt. Snow still dusted the high peaks encircling Leh but the sun streamed down the road below, the birds sang, and the aroma of fresh coffee scarved us in comfort. We asked our room boy what it would be like on the High Road to the legendary glacial lake of Pangong Tso. The corners of his lips turned down, doubtfully.

“Pangong Tso is at 14, 450 feet .” In Ladakh heights are still marked in feet “But you have to go over the mountains, through the 17,500 ft Changla Pass, to get there. “He looked out of the window. “ Maybe the snow-drifts will have melted on the road. But then, again, maybe not. I have brought freshly baked biscuits and your coffee is getting cold..”

The coffee and biscuits; and a stalwart breakfast of pancakes and honey, decided it. We boarded our 4x4 taxi and headed for the 160 km long, winding, climbing, mountain, road.

A half-hour out of the valley we saw the first signs of snow. It dusted boulders and patches of hillside like icing sugar. Then, as we drove on, it became more assertive. It spread in furry rugs on the shadowy sides of the road, began to cushion the hillside, glistened in dangerous stretches of black ice. The slopes were covered with white blankets when we passed two laden trucks parked at the side of the road. Their crew called out.

“The army has closed Zingral. You cannot go beyond” Our driver growled: “We have a fourwheel drive. We”ll try …”

The trucks were right. The army 30 • India Newsletter

camp at Zingral was a few metalclad huts sticking out of featureless slopes of snow. A jawan told us that all traffic had to stop here: snowslides had completely blocked the road ahead. Carefully … very carefully… we reversed and turned around, skidding a bit, and then tracked down the road again. We were very disappointed. Then we looked down on the right. There, below us, was an incredible eagle’s eye view over a valley, meandering for 25 kms between the lions’ paws of the rising mountains. The terraced fields were stacked in tiers, each demarcated by its low, dry-stone, walls. The fields nearest us were green with young barley. Gradually, however, as the terraces rose higher, and deeper into the mountains, the Summer green gave way to an Autumn sere and then, Winter frost glittered on them. Three seasons in a single valley on the same day!

It was irresistible. We turned right, down a snaking unpaved road, and into the Shakti Valley.

Stone walls protected the fields, grain dried on the flat roofs of the village, a winding flight of steps led through a gate to a curious monastery, the Tak Thog Gonpa, built into a huge bounder. Lama Padma Langdoi told us that it was the only monastery of the Nyimgma-Pa order and it had been built by the great Indian guru Padmasambhava. White scarves of honour were draped around golden idols on an altar under a golden canopy. Scrolls of the Buddhist scriptures reposed in rows of little alcoves behind. The old fragrance of incense and butter-lamps hung in the air like the reverberations of a bronze gong.

We left the ancient monastery and drove out of the Shakti Valley with a sense of déjà vu. We had been here before as children, sitting at a screening of The Lost Horizon: James Hilton’s tale of a hidden valley in the Himalayas where time stood still.

But we still yearned to visit Pangong

Tso. After four days of sunshine, the snow melted, and we set off again.

We had spent those four evenings reading up on the legendary lake.

And Pangong is legendary.

Shamanistic lamas use its shifting shades and flights of birds to predict forthcoming events. Then there is the oft-repeated story of the Monster of Pangong. We’ve pinned that down to the fact that 66% of the lake is in Chinese territory and the Peoples’ Liberation Army has been rumoured to surface near its lakeside hamlets, distribute goodies and pamphlets, and submerge again. Mini-submarines can easily be mistaken for marine monsters!

We left our hotel a little after dawn.

The thaw had set in and the chortling gush of ice-melt streams filled the chill air. We crossed Zingral, soared upwards, stopped at the 17,800 ft Changla Pass. Here we drank coffee, from the Border Roads canteen, with a family of visitors from Chandigarh. Then we crossed the snowy ridge of the mountains and began to descend. A herd of furry black yaks grazed on the stunted grass of a frigid meadow around an electric-blue lake fed by melting fields of snow. Below them was an encampment of yak herders. They are a friendly people whose shaggy beasts give them all they need: hair for their tents, leather for their shoes, milk, meat, butter and a fair income for their frugal needs such as borax for their gur-gur tea, tea leaves, parched barley and utensils.

Their kitchen tent was woven out of yak hair; rough, coarse, brown-andblack, and reputedly waterproof. We were now at about 16,000 feet which is as high as these Changpa, nomads, come. But though they share this rugged terrain with the goatherds, they claim to be a different people separated by centuries of divergent customs and traditions. The tents of the goat-herding nomads were encircled by low walls of rocks, their long-haired goats finding

Indian Embassy, Vienna

sustenance in this arid land. Because of the cold, the goats grow a thick undercoat of fur-like hair. This yields the valuable pashmina wool: soft, warm and very expensive. We tried to get close but were warned off by vigilant, snarling, amber-eyes dogs.

Now that we had learnt how to pick out life hidden in the scattered boulders we began to spot other animals. Marmots, like fat, brown terriers, squealed, sat up like begging dogs, and then vanished into their colonial burrows. Scurrying partridges looked like uniformed choristers recently embroiled in a fight: they had black circles around their It was irresistible. We turned right, down a snaking unpaved road, and into the Shakti Valley.

Stone walls protected the fields, grain dried on the flat roofs of the village, a winding flight of steps led through a gate to a curious monastery, the Tak Thog Gonpa, built into a huge bounder. Lama Padma Langdoi told us that it was the only monastery of the Nyimgma-Pa order and it had been built by the great Indian guru Padmasambhava. White scarves of honour were draped around golden idols on an altar under a golden canopy. Scrolls of the Buddhist scriptures reposed in rows of little alcoves behind. The old fragrance of incense and butter-lamps hung in the air like the reverberations of a bronze gong.

We left the ancient monastery and drove out of the Shakti Valley with a sense of déjà vu. We had been here before as children, sitting at a screening of The Lost Horizon: James Hilton’s tale of a hidden valley in the Himalayas where time stood still.

But we still yearned to visit Pangong Tso. After four days of sunshine, the snow melted, and we set off again.

We had spent those four evenings reading up on the legendary lake.

And Pangong is legendary.

Shamanistic lamas use its shifting shades and flights of birds to predict forthcoming events. Then there is the oft-repeated story of the Monster of Pangong. We’ve pinned that down to the fact that 66% of

the lake is in Chinese territory and the Peoples’ Liberation Army has been rumoured to surface near its lakeside hamlets, distribute goodies and pamphlets, and submerge again. Mini-submarines can easily be mistaken for marine monsters!

We left our hotel a little after dawn.

The thaw had set in and the chortling gush of ice-melt streams filled the chill air. We crossed Zingral, soared upwards, stopped at the 17,800 ft Changla Pass. Here we drank coffee, from the Border Roads canteen, with a family of visitors from Chandigarh. Then we crossed the snowy ridge of the mountains and began to descend. A herd of furry black yaks grazed on the stunted grass of a frigid meadow around an electric-blue lake fed by melting fields of snow. Below them was an encampment of yak herders. They are a friendly people whose shaggy beasts give them all they need: hair for their tents, leather for their shoes, milk, meat, butter and a fair income for their frugal needs such as borax for their gur-gur tea, tea leaves, parched barley and utensils.

Their kitchen tent was woven out of

yak hair; rough, coarse, brown-andblack, and reputedly waterproof. We were now at about 16,000 feet which is as high as these Changpa, nomads, come. But though they share this rugged terrain with the goatherds, they claim to be a different people separated by centuries of divergent customs and traditions. The tents of the goat-herding nomads were encircled by low walls of rocks, their long-haired goats finding sustenance in this arid land. Because of the cold, the goats grow a thick undercoat of fur-like hair. This yields the valuable pashmina wool: soft, warm and very expensive. We tried to get close but were warned off by vigilant, snarling, amber-eyes dogs.

Now that we had learnt how to pick out life hidden in the scattered boulders we began to spot other animals. Marmots, like fat, brown terriers, squealed, sat up like begging dogs, and then vanished into their colonial burrows. Scurrying partridges looked like uniformed choristers recently embroiled in a fight: they had black circles around their

India Newsletter • 31

Indian Embassy, Vienna

Tourism infoline launched in 12 languages In a bid to boost the tourism sector in India, the Union Tourism Ministry launched the tourism helpline number in 12 languages, which includes French, German, Italian, Spanish, and Japanese.

Union Minister of State for Culture and Tourism Mahesh Sharma introduced the 24X7 toll-free helpline number --1800-11-1363 or short code 1363 -- for tourists travelling or planning to travel to India.

The helpline will be available in English, Hindi, Arabic, French, German, Italian, Spanish, Japanese, Korean, Chinese, Portuguese and Russian. Previously, it was functioning only in two languages --- Hindi and English.

“Languages were decided by tourist influx from the respective countries,” said Sharma and called upon the members of the audience to test the infoline number.

Japanese, Chinese, Russian and Italian language helplines were successfully tested at the event. One of the members, who checked the Japanese language, said that the infoline was indeed the need of the hour, especially after the unfortunate events involving foreign tourists.

“This was the dream of the tourism department which has finally come true,” said Sharma.

He said that the initiative has been planned under the guidance of

32 • India Newsletter

Prime Minister Narendra Modi, and the idea is to generate faith in the people that India is a safe country for travel.

“With the infoline, we hope to generate faith in Indian tourism among foreign travellers --- the hope that if they are in distress, there will be a help. I hope the project will be a success,” he added.

The infoline has been developed in cooperation with a start-up, Tata Business Support Services.

The contract was given to the firm through a bidding process. The team members for the infoline have been selected from the various foreign language institutes in the capital.

To make tourism sector friendlier, the government had launched e-visa service, and Sharma said that so far about 4,45,000 have availed the facility. The minister hoped that schemes like these would help tourism industry scale new heights.

Vinod Zutshi, Secretary of Tourism Ministry, said lack of information makes travellers change their destinations.

“The objective of the project is IEC --- Information, Education, and Communication. The second objective is to develop a help desk --- the infoline would help with tourist information and travellers stuck in times of distress. This is not just an infoline, but a helpline too,” added Zutshi. He said an “Incredible India” mobile app will be ready soon.

Zutshi also said that the call centre

executives working with the infoline will have to be well-equipped with information to be able to perform.

“I request the minister to sensitise these people so that they are aware and can accurately disseminate information,” he said.

Talking about the previously existing internet-based information system available to foreign tourists, Sharma informed that certain websites and portals have been giving wrong information about India. “There are plans to provide tourists coming here with microchips which they can use to talk to their home countries as well as in India,” he said.

“We have received suggestions that maintenance of tourist spots should be given to reputed private stakeholders. They can take care of the internal management of the place, such as washroom maintenance, restaurants, etc,” the minister added.

The Indian tourism industry witnessed a spurt in growth this year. Earlier this month, Sharma had said that Foreign Tourist Arrivals (provisional) from January to December 2015 were 8.02 million, an increase of 4.4 per cent over the same period in the previous year, which was 7.68 million.

Foreign Exchange Earnings (Provisional) of Rs.1,26,211 crore during the period from January to December 2015 represented an increase of 2.3 per cent over the same period in the previous year, which was Rs.1,23,320 crore.

Indian Embassy, Vienna

INDIAN MOVIE EVENING AT THE EMBASSY Due to limited capacity, seats will be given on a first come, first served basis. Therefore, you are highly encouraged to reserve your seats online at www.indianembassy.at, via email under marketingofficer@ indianembassy.at

18th March, 17:30

Seat reservation and further Infos: www.indianembassy.at Indian Embassy Business Centre/Library Kärntner Ring 2, 1. Stock, 1010 Wien

India Newsletter • 33

Indian Embassy, Vienna

INDIA-RELATED EVENTS IN AUSTRIA

34 • India Newsletter

Indian Embassy, Vienna

NOTICE BOARD EMBASSY’S LIBRARY ■■ The EMBASSY’S library is opened DAILY from 10am to 1pm without appointment.

■■ For a complete list of books available in our library, visit our website www.indianembassy.at ■■ For scheduling an appointment outside the opening hours, please contact the information assistant under info.vienna@mea.gov.in or 01 505 8666 33

BUSINESS CENTRE ■■ The EMBASSY’S Business Centre is opened DAILY from 10am to 1pm.

■■ For scheduling an appointment outside the opening hours, please contact the commercial wing under the contacts given below.

■■ Marketing Officer: maoffice.vienna@mea.gov.in or 01 505 8666 30 ■■ Marketing Assistant: comm.vienna@mea.gov.in or 01 505 8666 31

STUDENTS WELFARE OFFICER ■■ Mr. Brijesh Kumar, Second Secretary (Press, Info. & Protocol) in this Embassy has been designated as Officer to look after welfare of Indian Students in Austria and Montenegro.

■■ His contact details are: 0043 1 505 866 17 and culture.vienna@mea.gov.in

MINISTRY OF EXTERNAL AFFAIRS GOES MOBILE ■■ Avail services : passport, visa, consular assistance ■■ Ask your Minister : on the go, anytime, anywhere ■■ Follow your PM : on his visits abroad ■■ Find the nearest Indian Mission/Post : for emergency consular assistance ■■ Be informed : about India’s Foreign Relations on the move and form your own opinions ■■ Know more : about how to undertake Kailash Manasarovar Yatra and Haj Pilgrimage ■■ Download and watch : pictures & documentaries on India ■■ Play and Personalize : what you need, when you need ■■ Share and contribute : your views, pics & suggestions

Ministry of External Affairs proudly presents “MEAIndia” – an integrated smart app for mobile and other hand held devices ‘MEAIndia’ is now available for download on App Store and Google Play Store..

FACEBOOK & TWITTER ■■ Our Facebook and Twitter pages target the India-Austria community and covers subjects such as Business, Culture, Embassy News, India-related events and programmes in Austria, and much more.

■■ We have reached the 9000 followers mark on Facebook!

■■ ‘Like’ our facebook page and be the first to know!

www.facebook.com/IndiaInAustria www.twitter.com/IndiaInAustria India Newsletter • 35