INDIA NEWSLETTER www.indianembassy.at
Published by the Embassy of India, Vienna Year 3 • Issue 35 • November 2013
FEATURED INDUSTRY INDIAN INSURANCE SECTOR
India Newsletter • 1
Embassy of India, Vienna
The output of eight core sector industries - coal, crude oil, refining, steel, cement, natural gas, fertilisers and electricity - grew at 8 per cent in September 2013, its fastest pace in a year.n
The medical device and equipment market in India is expected to grow to US$ 5.8 billion by 2014 and US$ 7.8 billion by 2016, growing at a compound annual growth rate (CAGR) of 15.5 per cent.n
India’s tea production stood at 704.87 million kg during the first eight months of 2013, up 6.3 per cent compared to the same period last year.n
Maize production in India is expected to touch a record 25 million tonnes (MT) this year.n
India Inc’s mergers and acquisitions (M&A) activity stood at US$ 5.7 billion during JulySeptember 2013.n
Merchandise exports from India grew at a rate of 11.15 per cent year-on-year in September 2013, to record a six-month high of US$ 27.68 billion.n 2 • India Newsletter
Indian companies have invested US$ 1.29 billion in overseas units and joint ventures (JV) in September 2013.n
Agricultural GDP in India is expected to grow by over 5 per cent in 2013-14 agricultural year (July-June).n
The Indian mobile advertising market is estimated to touch Rs 2,800 crore (US$ 453.88 million) by 2016 from Rs 180 crore (US$ 29.17 million) currently.n
India received investments worth Rs 1.71 trillion (US$ 27.69 billion) from high net worth investors and foreign hedge funds through participatory notes (P-Notes) in September 2013 (10-month high).n
IT spending by the Government of India is projected to reach US$ 6.4 billion in 2013, a growth of 7 per cent year-on-year.n
Indian healthcare providers are expected to spend US$ 1 billion on information technology (IT) products and services in 2013, an increase of 17 per cent over 2012.n
GSM India million users 2013, led by
operators in added 4.41 in September Idea Cellular,
which added 1.21 million users during the same month.n
Rural internet user base in India is projected to rise to 85 million by June 2014, as compared to 68 million by the end of October 2013.n
India is the largest receiver of foreign remittances from Saudi Arabia. India received almost 30 per cent of Saudi Arabia’s total outward remittance of US$ 27.6 billion at US$ 8.4 billion in 2012.n
LED lights market in India is expected to touch Rs 350 crore (US$ 56.7 million) by 2015-16.n
India’s foreign exchange (Forex) reserves increased by US$ 1.83 billion, to US$ 282.95 billion in the week ended October 25, 2013. n
Media and entertainment industry in South India is expected to grow at a compound annual growth rate (CAGR) of 16 per cent to reach Rs 43,600 crore (US$ 7.09 billion) by 2017.n
The quick service restaurants (QSR) market in India is expected to register 21 per cent annual growth by 2020 at US$ 4.2 billion from the current size of US$ 1.1 billion. n
NEWS ARTICLES Economic integration key to foreign policy, says PM
rime Minister Manmohan Singh said economic integration had become a crucial element in the country’s evolving foreign policy. He said developmental aspects have come to govern India’s strategic relationship with other countries. “Recognition that India’s relations with the world — both major powers and our Asian neighbours — are increasingly shaped by our developmental priorities. The single most important objective of Indian foreign policy has to be to create a global environment conducive to the well-being of our great country,” Singh said in New Delhi, while addressing the Annual Conclave of Indian Ambassadors and High Commissioners. Highlighting five fundamental principles of India’s foreign policy, he said greater collaboration and establishment of bilateral ties based on economic aspirations will benefit India in the long run, thereby unleashing the creative potential of its citizens. “We seek stable, long term and mutually beneficial relations with all major powers. We are prepared to work with the international community to create a global economic and security environment beneficial to all nations.” Singh stressed that in order to achieve the full potential of global dynamics and successfully integrating it with India’s relationship with other countries, it is important to strengthen regional institutional capability and capacity which can be achieved only by investing in connectivity. “Foreign policy is not defined merely by our interests, but also by the values which are very dear to our people. India’s experiment of pursuing economic development within the framework of a plural, secular and liberal democracy has
inspired people around the world and should continue to do so. As you go about discharging your dayto-day responsibilities, please ask yourselves how these five principles are guiding your work.”n
India to persist with open trade regime: Manmohan Singh
ndia will persist with open trade regime, Prime Minister Manmohan Singh has said expressing confidence that the impact of the slew of measures initiated to boost the economy will be "visible" soon. Asserting that fundamentals of Indian economy remain strong, he said India can get back to 8 per cent growth rate in the short to medium term. "... we are purposefully addressing the fiscal and current account deficits. At the same time, we will persist with our open trade regime. I am confident that the impact of these measures will be visible soon," Singh told Indonesian newspaper Kompass. Noting that India's savings and investment rates are still over 30 per cent of the GDP, Singh said that given capital output ratios, "we can restore the growth momentum to 8 per cent per year in the short to medium term". To bolster growth, which declined to 5 per cent in the last fiscal, the government has taken a number of reform steps. The prime minister said various reform measures to boost domestic investments, attract more foreign investments, strengthen the financial sector and improve and simplify the tax regime have been taken. "We have launched a broad range of entitlement programmes for the vulnerable sections of our population that require special attention of the government," Singh
said. Acknowledging that there are some supply side bottlenecks, he said those are being addressed through policy and administrative reforms. "If you leave aside last year's economic performance, in the previous nine years, the Indian economy has grown at an average annual rate of about 8 per cent per annum. "This is the highest rate of growth achieved by India in any previous decade," he added.n
Economy to grow at over 5 pc in FY14: FM
inance Minister P. Chidambaram is confident that Indian economy will soon regain its momentum and grow at over 5.0 percent and perhaps closer to 5.5 percent in fiscal 2013-14 despite predictions to the contrary. After growing at an average of 8.5 per cent per annum between 200405 and 2010-11, Indian economy had registered a decline with a downturn in the global economy in 2011, he acknowledged at an event in Washington. But "India's experience in this period is not unique," Chidambaram said at Carnegie Endowment for International Peace, a Washington think tank, speaking on "Recapturing India's Growth Momentum." "Virtually all the major emerging economies around the world have seen a sharp decline in growth -- the so-called Great Descent," he said noting in line with expectations of a gradual global revival, the Indian economy has also showed early indications of recovery. India had seen a pick-up in exports between July and September; a reversal of the negative growth in manufacturing; and a reasonable rise in freight traffic, indicative of economic activity picking up, he said. India Newsletter • 3
Embassy of India, Vienna
"With very good rainfall in the current year and a sharp increase in the sown area, we expect robust growth in farm output. We have also taken numerous reform measures over the past one year," Chidambaram said. "We expect these measures to show their impact from the second half of the current fiscal and believe that the Indian economy will grow at over 5.0 per cent and perhaps closer to 5.5 per cent in 2013-14," he said. Referring to the International Monetary Fund's World Economic Outlook which has lowered India's growth projections to 3.8 percent in fiscal 2013 and 5.1 percent in fiscal 2014, Chidambaram said it "does not share my optimism, but I may tell you that we do not share their pessimism." India has at least six strong microeconomic growth fundamentals in its young demographics, international economic integration, an increasingly "capable" financial system, sophisticated firms, sophistication of the workforce and democracy, he said. "Nothing has changed on these," Chidambaram said asking his audience "not to lose sight of the microeconomic foundations of Indian growth, which are delivering one doubling of GDP every decade." With a resolve to strengthen these fundamentals, India was set to write a new growth story that "will captivate the world in the next ten to twenty years, as India takes its place as the third or fourth largest economy in the world," he said.n
Gujarat to get worldâ€™s largest acetic acid plant
P's global chief executive Bob Dudley and Reliance Industries (RIL) Chairman and Managing Director Mukesh Ambani held a closed-door meeting with Gujarat Chief Minister Narendra Modi on the companies' investment plans for the state. BP is working with Indian Oil Corporation (IOC) to set up an acetic 4 â€˘ India Newsletter
acid plant in Gujarat, while the BPRIL joint venture has submitted a proposal for Gujarat State Petronet Corporation (GSPC)'s LNG terminal in the state. Before meeting Modi, Dudley and Ambani reiterated their future investment plans for the state at the third convocation of Pandit Deendayal Petroleum University (PDPU), where Modi was also present. The convocation saw Dudley, Ambani and Modi sharing the dais, following which the trio reportedly had a closed-door meeting. Speaking at the convocation, Dudley said he hoped for a better market-based price for natural gas. "It is one thing to have the right resources below the ground, it is another to have the right conditions above the ground. Here in India, we have seen welcome moves for creating investment-friendly conditions enabling legislators to place regulations in the right place and we hope to see more vibrant domestic energy sector evolve. In particular, we hope to see continued progress towards a market-based price for natural gas which will help release domestic production, reduce imports and improve trade balance." On the gas price issue, Dudley said: "We had a lot of meetings in Delhi. The minister (of petroleum) will talk about (gas prices); I am here to talk about Gujarat." Talking about BP's Gujarat plans, Dudley said: "Gujarat emphasises how the above-ground factors largely based on good policy can make a major difference into the lives of many people. Gujarat, too, features prominently in our growth plans as we are hoping to set up one of the world's largest acetic acid plants here." Dudley elaborated that BP was working with IOC for an acetic acid plant of a capacity of a million tonnes at an investment of over $1 billion dollar near IOC's Koyali refinery. "In addition, we are also looking at LNG re-gasification here with Reliance in Gujarat. We are one of the few
companies to have submitted a proposal for a LNG terminal and regasification here," he added. The BP-RIL joint venture has bid for GSPC's liquefied natural gas terminal in Gujarat. "There has been a bid process that GSPC have gone through and we are one of the three shortlisted players and right now we are going through some due diligence," said Sashi Mukundan, region president and head of country, India, BP Exploration (Alpha). On the rising energy needs, Dudley said there will be a rise in demand for energy of another four billion tonnes of oil equivalent or an additional 35 per cent by 2030, which is just 17 years from now. n
World Trade Centre to be set up in Chandigarh
ew York-based World Trade Centre Association (WTCA), part of the global network of WTCs across the globe - covering New York, Dubai, Chicago, Amsterdam and 320 other locations - will establish a WTC Chandigarh to connect Indian MSMEs with their international counterparts across industry domains. This was announced by Eric Dahl, CEO, World Trade Centre Association, in Chandigarh recently during an interaction with industry members at the PHD Chamber. Addressing the industrialists, Dahl said, "WTC Chandigarh will be developed as a Grade A+ stateof-the-art facility encompassing office spaces, conference facilities, auditorium, retail and exhibition area." WTC Chandigarh will ensure that the legacy of entrepreneurship in Punjab is taken forward by connecting MSMEs to their international counterparts across industry domains. Also on offer will be a venture accelerator centre (V@C) to support a large start-up segment in the state. This will be achieved in conjunction with various trade bodies and chambers of
commerce already operating in the region, especially the PHD Chamber of Commerce and Industry, added Dahl. Calling it a step towards empowering the large entrepreneur base in Punjab, Dalip Sharma, regional director, PHD Chamber of Commerce and Industry, committed his organisation's support in the effort to promote trade and business in Punjab and the northern region. "The timing of the announcement to establish WTC Chandigarh could not have been more apt, when Punjab is gearing up to hold its firstever Investment Promotion Summit on December 9-10. The two-day event will host business heads and representatives of more than 2,000 companies from across the country and even abroad," said Sharma. "Together, these will help bring in lots of investment to Punjab." WTCs across the world are known as symbols of growth and prosperity serving the local region. Each WTC connects its tenants, members and partners to the rest of the globe through this trade network. SMEs, start-ups and corporates have all benefited by this reciprocity. "We propose to establish WTC Chandigarh in association with Spire, a leading infrastructure developer from Delhi NCR, while the local partner in the project is IFM," said Dahl.n
EU to host major Indiafocused business meet
round 170 delegates from Europe and India, including CEOs, marketing practitioners, entrepreneurs and government and EU officials, participated in a Trade and Investment Partnership Summit (TIPS 2013), in which India was the focus, at the European Parliament. It was organised by the Brusselsbased Europe India Chamber of Commerce (EICC) in collaboration with Eurochambres and Indian Chamber of Commerce. Sunil Prasad, secretary general of EICC, said the objective of the one-
day event was to build innovative relationship between the EU and India by exploring the dynamics of changing Europe in the face of continuing financial and economic crisis and the recent economic policy developments in India. "It provided the highest level platform for a concrete and constructive dialogue in the context of improving trade and investment between EU and India, and offered Indian and European companies to build collaboration and further explore business opportunities," Prasad told IANS. n
India-EU bilateral trade may touch $ 200 billion: Joao Cravinho
he bilateral trade between India and European Union may touch $ 200 billion over the next 4-5 years and it is likely to go up to $ 130 billion in the current year, according to a top EU diplomat. Joao Cravinho, Ambassador, Delegation of the EU to India, also opined that some of the issues with regard to the proposed Free Trade Agreement between the two parties may turn positive before the end of the UPA government's present term. "So we are talking about $ 120 billion to $ 130 billion (of bilateral trade with India). That is really quite significant. I expect that it could reach $ 200 billion within 4 to 5 years," Cravinho told PTI on the sidelines of a programme here on Monday. According to the official figures, the EU as a bloc of 28 countries is India's largest trading partner. Bilateral trade between India and the EU was valued at 75.8 billion euro ($ 103.7 billion) during 2012 as compared to 80.2 billion euro ($ 109.4) in 2011, representing a decline of 5.49 per cent. "It (the bilateral trade) has been progressing. 2011 was the best ever year. 2012 was little bit lower than 2011. But it was the second best year ever. Now that we have economic improvement in Europe, growth is
returning," the envoy said Replying to a query on the FTA issue, he said there is no further development on some of the bottlenecks that are delaying the process of trade pact. "The well-known bottlenecks have been there in the last year. And unfortunately we have had not much movement in the past year. But we are hoping that now in the final stages of this Parliament, this will be possible to arrive at a solution," he said. He said since the FTA is a nonpolitical issue, they will take up the issue with the new government after the general elections. "Democracy is like that. It happens in our country also. There are election periods in which the government will not take much fundamental decisions. Then there is a little smaller period where a new government looks around to assess the situation to move. So that's normal," Cravinho replied when asked if the elections in India next year would delay the process of negotiations on FTA. The FTA negotiations between India and EU began in 2007 and the IndiaEU Joint Commissions have set up three sub-commissions. There are joint workings groups on textiles and clothing, agriculture and marine products, technical barriers to trade and sanitary and phytosanitary issues, pharmaceuticals and biotechnology, as well as food processing industries, which meet regularly to enhance sector-specific cooperation, according to the information provided by the Indian Ministry of External Affairs website.n
We are for trade-facilitation pact: India to WTO
deal on further easing of global trade through tariff cuts and liberalisation of services trade may be off the WTO agenda because of the global economic crisis and the resultant protectionist tendencies in the West and elsewhere, but the new director-general of the multilateral trade body has got a shot in the arm India Newsletter â€˘ 5
Embassy of India, Vienna
as New Delhi said it was "in favour" of a trade facilitation agreement (TFA). After a meeting with visiting WTO director-general Roberto Azevedo, commerce and industry minister Anand Sharma said: “There should not be any confusion on trade facilitation because we are in favour (of that) and that’s why we are engaged to have an understanding and an agreement.” On his part, Azevedo, however, said that India's food security law, under threat of WTO censure, was not “mature” on technical side. The DG, who took office on September 1, is trying to garner support for an onward push to at least some elements of the WTO Doha Development Agenda, ahead of the Bali ministerial in December. A TFA will include binding commitments by member countries to harmonise the documentation as well as customs clearance standards and procedures among member countries in what could ease crossborder trade and reduce costs by 5-15%. India has so far been sceptical of TFA due to the high cost of putting in place foreign trade management infrastructure at its ports and making that available for multilateral scrutiny. The importance of TFA can be gauged from the fact that while average world tariffs are 5% ad valorem, trade (customs) costs are 10%. The current worlld crossborder trade is $18 trillion. According to a recent study, a multilateral deal on TFA could give a one-time boost to global GDP of $960 billion. Defending the food security law, Sharma said the legitimacy of that has been appreciated by all WTO members and the negotiators will find an acceptable solution to that. At the Bali ministerial, apart from TFA, one of the “Singapore issues”, other issues to be discussed include Least Developed Countries' (LDC) 6 • India Newsletter
proposal on Rules of Origin and duty-free quota-free (DFQF). Other items to be discussed include food safety and cotton subsidy. Till now, New Delhi has refused agreeing to the TFA because it made it compulsory for customs authorities globally to allow exporters to take back portions of the rejected consignments at the borders before nullifying the entire shipment. This was done as developed countries wanted India’s proposal on Customs Cooperation to be accepted on a ‘best endeavour’ basis, while their proposals are to be accepted by developing countries on a binding and justiciable basis. On customs cooperation, the main proposal had initially been put forward by India, Brazil, South Africa and Sri Lanka, which asked for mandatory exchange of information between customs administrations (on request) so as to prevent underinvoicing, overvaluation, tax evasion and illicit capital flows. While the US had also joined India in making an initial submission, in recent times, it has shown its disinterest in the matter. India’s proposal is being strongly opposed by Canada and Singapore on grounds of breach of confidentiality and silently opposed by the rest of the Colorado Group members like the US and the EU.n
India to strengthen cooperation with ASEAN
n order to increase cooperation with South East Asian countries on economic and security issues, Dr Manmohan Singh, the Prime Minister of India, announced a separate Mission for Association of South East Asian Nations (ASEAN) region to be set up in Jakarta, Indonesia. The mission will be assigned a full-time resident Ambassador. Dr Manmohan Singh also represented India’s willingness to sign the Free Trade Agreement (FTA) with ASEAN on services and
investment by the end of this year and its early implementation, while addressing the 11th ASEAN-India Summit. The agreement will also boost bilateral trade among the regions from US$ 76 billion last year to US$ 100 billion by 2015. India and ASEAN have established a comprehensive agenda of cooperation and a wide-ranging framework to pursue it over the last two decades. “Today, we stand on the threshold of the third decade of our engagement. In keeping with our substantial achievements, the recent elevation of our ties to a strategic partnership and the rich potential of our cooperation, I feel it would be appropriate for me to take this opportunity to announce that India will soon set up a separate Mission to the ASEAN in Jakarta with a fulltime resident Ambassador,” Dr Singh added. He further highlighted that all the countries have equal stakes in the security and prosperity of our shared Asian neighbourhood. The scope of India’s engagement with East and Southeast Asia has grown steadily in the last two decades. “We seek to promote not only mutually beneficial bilateral relations, but also to work institutionally with regional partners and foster a climate that is conducive to stability, security and economic development in our region,” said Dr Singh. The Prime Minister emphasised that ASEAN has paved the way for a great level of cooperation and integration, not only among themselves, but also in the broader region. “For India, it is an article of faith of our Look-East policy that ASEAN must remain central to the future evolution of regional mechanisms, which must be open and inclusive. We share your vision and aspirations for the region and we applaud your march towards an ASEAN Economic Community in 2015,” pointed out Dr Singh.n
India and Japan sign MoU for feasibility study of high speed railway system
ndia and Japan have signed MoU to undertake a joint feasibility study of High Speed Railway system on the Mumbai-Ahmedabad route. This is in pursuance of the Joint Statement between the Prime Minister of India, Dr. Manmohan Singh, and the Prime Minister of Japan, Mr. Shinzo Abe, dated May 29, 2013, which provided that the two sides will co-finance a joint feasibility study of this High Speed route. The MOU was signed by Katsuo MATSUMOTO, Director South Asia Division JICA from the Japanese side and Mr Girish Pillai , Adviser Infrastructure, Ministry of Railways from the Indian side. The objective of the Joint study is to prepare a feasibility report of High Speed Railway system on the Mumbai-Ahmedabad route with speed of 300-350kmph. The cost of the study will be shared 50:50 between India and Japan. The study shall be completedwithin18 months from its commencement. The study will do traffic forecasting, alignment surveys and undertake comparative Study of High Speed Railway Technology and System. A Joint Monitoring Committee shall also be established comprising of the Ministry of Railways, Planning Commission, the Ministry of Finance and the Ministry of External Affairs for the Indian side and the MOFA (Ministry of Foreign Affairs), the METI (Ministry of Economy, Trade and Industries), the MLIT (Ministry of Land, Infrastructure, Transport and Tourism), the MOF (Ministry of Finance), EoJ (Embassy of Japan in India) and JICA for the Japanese side.n
Germany eyes skilled talent from India
ermany is looking to attract skilled talent from India. In the near future, the country would face a dearth of skilled human resources, especially in manufacturing and engineering sectors, its core
strength. The reason? In the next few years, half the German population would be aged more than 60. Speaking to Business Standard, Michael Siebert, consul general of the German Consulate in Mumbai, said, “Due to demographic issues, half the German population would be aged more than 60. We need at least 40,000 skilled employees for various sectors, especially engineering. India has a lot of job opportunities in Germany. It has a lot of quality young people who would have a lot of opportunities, not only in manufacturing and automobiles, but also in service sectors such as finance, insurance, information technology, entertainment, publication and emerging sectors such as hospitality.” Initially, German companies are eying local talent for their Indian subsidiaries. They plan to relocate the hired lot to Germany for a few years, in due course of time. The companies also have a similar policy for markets such as Poland and Brazil. A few German universities are attracting Indian students for research-based or doctoral studies. However, Germany does want to turn itself into an education market like the UK or Australia. This is because it seeks to enroll only quality students. Germany is organising job fairs in India under the programme ‘Trained in Germany’. In this, it is aided by the Indo-German Chamber of Commerce, Pune, and Alumniportal Deutschland, the German ministry for economic cooperation and development and the federal foreign office. Siebert said research departments in Germany were affected by the shortage of skilled employees. Also, in the BRICS (Brazil, Russia, India, China and South Africa) countries, there was increasing demand and competition for young and educated people. German companies located in BRICS nations valued local employees who had studied or been trained in Germany, particularly because they were familiar with
the German economy, culture and language, he said. Currently, trade between India and Germany stands at euro 18 billion. Also, there is a lot of technology and knowledge transfer between the two countries. So far, German companies have invested euro 3 billion in India and provided employment to about 5,00,000 Indian nationals. Zubin Kabraji, regional director, Indo-German Chamber of Commerce, Pune, said about 300 German companies had set up businesses in Pune. The total investment by these companies here stood at about euro 1 billion. The city also accounts for about 175 joint ventures between Indian and German entities. Most investments are in the manufacturing and automobile sectors. Alumniportal Deutschland is an online community for people who have studied, conducted research, worked or received training in Germany or at a German institute abroad. On this portal, members can create and maintain professional profiles, take part in discussions and apply for job vacancies. Organisations and companies can create and maintain their profiles, put up job vacancies and scout for candidates for vacancies.
Hungary and India Sign Agreement for Promotion of Traditional Medicines
n an important initiative taken by India, Republic of Hungary has signed a bilateral agreement with India for promotion and development of traditional systems of medicine. The Memorandum of Understanding was signed on behalf of India by Smt. Santosh Chowdhary, Union Minister of State for Health & Family Welfare and Mr. Zolton Banog, Minister of National Resources of Hungary in the presence of Dr. Manmohan Singh, Prime Minister of India and Mr. Viktor Orban, Prime Minister of Hungary, at Hyderabad House. The Republic of Hungary has considerable interest in Indian traditional systems of medicine India Newsletter • 7
Embassy of India, Vienna
especially Ayurveda. The main objective of this MoU is to strengthen, promote and develop cooperation in the field of traditional systems of medicine between the two countries on the basis of equality and mutual benefits. The MoU encourages and promotes cooperation to enhance the use of traditional systems of medicine, exchange of regulatory information on operational licensing to practice traditional medicine and on marketing authorization of medicines in both countries, promote the exchange of experts for training of practitioners, para-medics, scientists, teaching professionals and students in traditional systems of medicine. The signing of MoU will give boost to bilateral cooperation between the two countries in the areas of traditional medicines which will open new vistas for exploring the potential of economic, commercial and tourism development in both the countries. Smt. Santosh Chowdhary has expressed hope that by signing of such bilateral agreements, India will be able to establish the Indian systems of medicines namely Ayurveda, Unani, Yoga and Naturopathy, Siddha, Homeophathy and Sowa-Rigpa (Namchi) that will help in establishing the global recognition of India’s well established systems in the world over. It may be mentioned that India has already signed such agreements with Malaysia and Trininad and Tobago and is in the process of signing agreements with Russia, Nepal, Srilanka, Serbia and Mexico in near future.n
Indo-French Technology Summit witnesses 11 MoUs in the field of science & technology & education
he India-France Technology Summit, organized by Department of Science and Technology, Confederation of Indian Industry (CII) and French Embassy witnessed 11 Memorandum of 8 • India Newsletter
Understandings (MOUs) between India and France in the field of Science and Technology and Education. The MOUs were signed in the presence of Mr S Jaipal Reddy, Minister of Science and Technology and Earth Sciences. MOU between Department of Science and Technology and Institut National de Recherche en Informatique et en Automatique (INRIA), on Joint Targeted Program in Information and Communication Science and Technology. MOU between Department of Biotechnology (DBT) and CNRSfor establishing an International Associated Laboratory in the area of Systems Immunology and Genetics of Infectious Diseases, LIA SIGID. MOU between SGRI and CEFIPRA for Habitat in hot and humid climate. Letter of Intent to launch “The EADS-CEFIPRA Aerospace Program” between European Aeronautic Defense and Space Company (EADS) and the Indo French Centre for the Promotion of Advanced Research. MOUto set up an International Associated Laboratory on Transcriptomics and Metabolomics for Liver Diseases between the French National Institute for Health and Medical Research, INSERM and the Institute of Liver and Bilary Sciences, ILBS. MOU for International Joint Laboratory on Neuosciences, LIA PROTECT between IISc and INSERM. Statement of intent between SafranMorpho (SMPL) and Gujarat Forensic Sciences University for Training, Research and Development (GFSU), to explore the possibility of establishing cooperation through the program. MOU “ASTech-Systematic India Hub between ASTech Cluster, Systematic Cluster, Paris Region CCI, India Desk and IFCCI. MOU for an institutional partnership between Sciences Po Paris and Ashoka University, covering undergraduate and postgraduate student exchange program and faculty exchange.
MOU for a partnership awarding a double Master’s Degree between DTU, India and N+! Engineering Network, France. MOU for a partnership for Last Semester of Bachelor or Master as an international experience in France/ India between BITS Pilani and N+1 Engineering Network, France.n
Govt investing heavily in science, R&D: Kasturirangan
he Government is investing heavily in science and technology during the Twelfth Plan period and it has drawn up an ambitious agenda, according to K. Kasturirangan, the eminent space scientist and a member of the Planning Commission. He was speaking at the convocation of Gitam University (a deemed university) as the chief guest, after a honorary doctorate was conferred on him. He said, “The Government opened 51 new institutions of higher learning in the previous plan and it is proposed to increase the number of full-time researchers/scientists from the present 1.54 lakh in 2011 to 2.50 lakh by the end of the current plan.” He said science and technology held the key for India's progress in future and “there are many new challenges stemming from scientific fields such as nuclear energy, genetic engineering, synthetic biology, nano technology and stem cell research. Let me mention two areas of research in particular: synthetic biology and nuclear energy. There is a need to devise a proactive process to be adopted for assessing public attitudes on the one side and the level of risk acceptable in a social context of evolving policy.” He said that “one of the key issues for India's growth is energy security. We are the fourth largest consumer of energy in the world after the US, China, and Russia, but we are not endowed with abundant energy resources. We cannot rely too much on imported energy. Therefore,
we have to develop carbon-free technologies for power including nuclear power. The nuclear power industry has matured over the years, but still public perceptions on the risks persist. We have to address these issues and make the difficult choices.” The university also conferred honorary doctorates on N. Chandrasekharan, CEO and MD of TCS, Devinder Singh Rana, eminent nephrologist, and Prasad Thotakura, CEO of ekNazar.com, Dallas, the US.n
Railway Ministry sets up High Speed Rail Corp.
he Railway Ministry has formed a High Speed Rail Corporation, which will evaluate ways to implement high-speed train projects in India. Incidentally, this is not the first such body announced by the Ministry. Earlier, the Ministry had announced formation of a High Speed Railway Authority to do a similar task. According to Ministry officials, both organisations will co-exist. “The two institutions will co-exist. HSRA will be under the Ministry of Railways to form standards on ticketing, tracks, rolling stock, while HSRC will be under Rail Vikas Nigam Ltd and will be an institution that will do ground level work,” said Railway Board Chairman Arunendra Kumar. Kumar also added that HSRA is a medium to set technology standard, “but we need not wait for HSRA, as we have Railway Design and Standards Organisation (RDSO), a body which sets such standards.” However, an official press release of Railway Ministry stated that HSRC (and not HSRA) would undertake project activities such as preparation of project related studies and technical standards for high speed rail corridors. Kumar avoided a clear reply on which body will come first: HSRA or HSRC, but indications are that HSRC will be operational first. Safety measures
Meanwhile, Railway Minister Mallikarjun Kharge said that while it is good to have high-speed railway systems, India should not rush into adopting some high speed rail technology just because it is cheap. It is important to be aware of the safety aspect, he said. “Today, we have started the process. Later on its terms and condition, appointment of members, other things will be decided,” Kharge said. Indicating that full costs of high speed rail technology may not be clear upfront, he added, “One should not buy horses because horse shoes are freely available. We should not get even if it is available free. Some time they sell it to buyers saying it is cheap. We should think whether it suits or not even if it is free or cheap.”n
Germany farm gear maker to turn India an export hub
erman farm equipment maker Lemken GmbH, which specialises in pre-harvesting implements such as reversible ploughs, plans to make India its export hub to cater to markets in Asia and Africa. Lemken, which set up a manufacturing unit in Nagpur with an investment of Rs 60 crore last year, expects to start exports to south China and African countries from next year, said Anthony Van Der Ley, CEO, Lemken GmbH. The 232-year-old German firm also plans to set up a small design team of about eight engineers in India taking advantage of the engineering skills here to customise its products for the local market. “We are looking at India from a longterm perspective and the market here holds a major potential,” Ley said. In its first year of operations, Lemken India sold over 350 hydraulic reversible ploughs, which cost around Rs 1.8 lakh each, almost three times higher than mechanical ploughs. Lemken’s equipment is used along with tractors.
The company is targeting to sell 1,000 ploughs next year and also plans to introduce other equipment such as disc harrow, which is used to cut, mix and mulch soil and seed drills among others. “We use a highly specialised alloy boron steel that enhances the life of our equipment to a great extent, making it more expensive than conventional ones,” said Arvind Kumar, MD and CEO of Lemken India Agro Equipment Pvt Ltd. Currently, Lemken’s products are sold in Maharashtra, Karnataka, Andhra Pradesh and Punjab, while the company is looking at other States such as Uttar Pradesh, Haryana and Madhya Pradesh. Kumar said the Government should look at extending subsidy, being offered to farm equipments, to technology-intensive farm implements, such as hydraulic reversible ploughs to give a push to farm mechanisation.n
TCS bags multi-million deal from Bombardier
ata Consultancy Services, India’s largest IT services provider, today announced that it has been selected by Bombardier Transportation, a global leader in rail transportation technology, to manage its IT infrastructure for newly commissioned data centers. The multi-year, multi-million deal, is the first that TCS has signed with a rail-transportation technology provider. As part of the contract, TCS will provide remote infrastructure management (RIM) to Bombardier Transportation’s recently established data centers in Germany. The new data centers will establish a leadingedge technology platform for Bombardier, through introduction of private cloud services paired with a high level of virtualization. Besides standard RIM Services, managing server, storage, network and security services, TCS will also operate and be responsible for all operational processes within India Newsletter • 9
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Bombardier Transportation’s data centres. TCS will also provide SAP Basis support to Bombardier Transportation. “As a world leader in rail transportation, with operations in over 60 countries, our business requires a global mindset. India is central to Bombardier’s Information Services strategy – our relationship with TCS offers operational excellence in markets around the world,” said Thomas Leidenbach, Vice President IS Infrastructure, Bombardier Transportation. Sapthagiri Chapalapalli, Head of Central Europe at TCS, said, ”This is a strategic step forward for TCS as it establishes us as a partner of choice for infrastructure services in the German market. Bombardier Transportation is executing a next generation IT Infrastructure program to drive efficiency, reliability and transparency." TCS’ Central Europe operations (an operating area cutting across Germany and Austria) comprise over 4,000 professionals, servicing more than 80 leading German and Austrian companies such as Commerzbank, Daimler, Deutsche Bank, Deutsche Börse, as well as growing set of upper midsize companies.n
Volkswagen India begins exporting Vento to Mexico
olkswagen India (VWI) has commenced exporting the Volkswagen Vento to Mexico which, in the future, will become the single largest export market for VWI with every second car produced for exports at the Pune plant being sold there. Volkswagen India commenced export of cars manufactured at Pune in 2011 with exports to South Africa. It entered the Left-Hand Drive (LHD) market in 2012 with exports to West Asian countries. The next big step in the growth strategy of Volkswagen India is the expansion of exports of the Left-Hand Drive Vento to the Mexican market.
10 • India Newsletter
The production of LHD Vento cars for the Mexican market has commenced with the first lot of cars having already reached there. The model will be officially introduced in the Mexico market in the beginning of November. The Vento will be offered in three drivetrain options in the Mexican market. “The Vento was specifically designed and built for Indian customers. However, its success in a competitive market like India has opened the doors for its export to various other markets,” said Mahesh Kodumudi, President & Managing Director, VWI. “With the increase in export of fullybuilt cars, Volkswagen India can tackle the volatility in the domestic automotive market and in the currency,” Kodumudi said, adding that the primary focus area for the company would continue to be the domestic Indian market. VWI’s Pune plant currently produces the VW Polo and Vento, and the Skoda Fabia and Skoda Rapid. The exports from here include the RHD Polo and both RHD and LHD Vento.n
McDonald’s to bring McCafé to India
ardcastle Restaurants, master franchise for west and south India operations of McDonald’s Restaurants, is finally bringing its coffee retail format McCafé to India. It would be launched within the existing McDonald’s restaurants and the first opening will be at So Bo Central outlet in Mumbai. More than 150 McCafes are expected to be set up in the next five years. Amit Jatia, Vice-Chairman and CEO, Hardcastle Restaurants, said, “McCafes would serve as a beverage destination and apart from coffee there would be added beverages like juices and ice teas. We are positioning the McCafé as premium coffee with affordable pricing and are expecting incremental sales from this format.” It has marked an investment of Rs 35 lakh for each McCafé format. “It is a tough environment to operate
in but the QSR segment is growing between 10 and 12 per cent and within it there is phenomenal growth for the coffee segment which is expected to reach $700 mil in the next five years,” added Jatia. The 75-100 McDonald’s outlets slated to be launched in the next two years will measure almost 4,000 sq ft and would include the 500 sq ft McCafes within it. The existing McDonald’s outlets would undergo renovation to facilitate the new format within its premises. Currently McDonald’s serves beverages under Coca-Cola’s brand of Georgia tea and coffee. But once McCafé gets launched, Georgia branded beverages may get discontinued. Beverages at McCafé will be priced Rs 90 onwards for a latte or cappuccino which will be made from Arabica beans sourced from the coffee plantations at Chikmagalur in South India.n
Henkel opens first innovation centre in India
enkel Adhesive Technologies India, a subsidiary of Henkel AG & Co, has set up its first Innovation Centre in India, marking the German company’s most important investment in the region. The centre will focus on technologies and solutions for customers across the automotive and transportation industry in South Asia, West Asia and Africa. Located in the Pune auto hub, it is designed to be a onestop solution provider to Henkel’s customer base in the region, and around 800 automotive suppliers and 20 manufacturing companies will directly benefit from it. Jeremy Hunter, President, Henkel India, said: “By 2016, Henkel expects to grow sales to €20 billion (around Rs 1.7 lakh crore today), of which, €10 billion is expected from emerging markets such as India. This innovation centre will nurture a strong mix of global expertise and local know-how to benefit customers across the region.”
The centre is equipped with customer component testing facilities, dispensing systems, application training, product development and engineering facilities, which will provide customers comprehensive adhesive solutions. For the automobile and metal industry portfolio, the laboratory is well-equipped with a simulated environment for automotive acoustic structures. The centre also has customised training assistance programmes and interactive sessions for customers. As a world leader in adhesives, sealants and functional coatings, Henkel operates in three business areas of laundry and home care, beauty care and adhesive technologies, and has research and development centres across the world. The India centre will contribute significantly towards Henkel’s strategy 2016, which seeks higher sales from emerging markets. Scania sets up assembly plant in India Sweden's Scania Commercial Vehicles has set up an assembly plant in India to manufacture about 2,500 heavy haulage trucks besides 1,000 inter-city buses and coaches annually at a factory near Bangalore. Currently the localisation is 18% for trucks and 100% for bus bodies, the company said, adding that initial investments will be Rs 250 crore. The facility will serve as the company's head office and centre for all commercial operations . The operations will consist of final assembly of trucks with bodywork and building of complete coaches along with a service workshop and a central parts warehouse.n
PepsiCo to Invest More Than $5 Billion in India
epsiCo Inc. (PEP), the world’s largest snack-food maker, will invest 330 billion rupees ($5.2 billion) with its partners in India by 2020 as it increases manufacturing capacity and adds new products.
The Purchase will ramp up investment in delivery infrastructure in the world’s second most populous nation with a focus on rural areas, according to a statement yesterday. “India is a country with huge potential and it remains an attractive, high-priority market for PepsiCo,” Chairman and Chief Executive Officer Indra Nooyi said in the statement. “We’ve only scratched the surface of the long-term growth opportunities that exist for PepsiCo and our partners.” The company and rival Coca-Cola Co. are vying for a bigger chunk of developing countries’ business as growth rates in Asia, the Middle East and Africa are four to five times those in the U.S. and Europe, according to PepsiCo. It generated about half its $65.5 billion in revenue last year from outside the U.S. India is one of Pepsico’s biggest markets globally and the investments will also help expand the range of food and drinks it sells in the South Asian nation, according to the statement. The investment from the international drinks maker is a boost for the country, which battled capital outflows and a plunging currency earlier this year. India’s economy will grow 5 percent in the year through March 2014, the central bank has forecast, matching the previous year’s expansion, which was the slowest since 2003. The U.S. company, which opened its first operations in India in 1990, added more spicy offerings and recruited Bollywood actors as brand ambassadors to get a greater share of India’s snack market, which researcher Euromonitor Plc projects will be worth 268 billion rupees by 2018. PepsiCo’s share of the carbonated beverage market in India fell to 36.4 percent last year, from 40.1 percent in 2007, according to data from Euromonitor. Coca-Cola’s share rose to 60.9 percent from 57 percent in the same period. Both companies are counting on growth from a low consumption base of soft
drinks in India to drive sales of their products.n
India's Mars Orbiter launched successfully
ndia’s Mars Orbiter Mission (MOM), also known as Mangalyaan, lifted off successfully from Satish Dhawan Space Centre, Sriharikota. It is India’s first interplanetary mission to planet Mars and if successful, would make Indian Space Research Organisation (ISRO) the fourth space agency to reach Mars after Roscosmos, NASA and ESA. The project, costing Rs 450 crore (US$ 72.6 million), is the cheapest and low cost mission to Mars and at the same time establishes India’s self-reliance in the area of space technology. It is important to note here that this was the first time that an Indian spacecraft had been sent out of the Earth’s gravity. The mission would demonstrate the technological capability to reach Mars orbit and carry out experiments. The Polar Space Launch Vehicle (PSLV)-C25 placed the Mars Orbiter spacecraft very precisely into an elliptical orbit around Earth. The spacecraft is set to travel for 300 days, reaching Mars orbit in 2014. The instruments on board are aimed at taking 360 degree panoramic pictures of Mars and asses minerals on the planet. Additionally, the instruments will assess what kind of atmosphere once existed on Mars and the level of water on the planet. However, the most important experiment is to check the presence of methane that can indicate what kind of life existed on Mars, if at all. Overall, 58 space missions have been planned for the 12th Plan period–33 satellite missions and 25 launch vehicle missions. Interestingly, the two important highlights for this mission were that it was the longest PSLV mission (44 minutes) while the previous missions lasted for around 18 minutes, and this was the silver jubilee lift-off of the PSLV. Out of the 25 launches, 24 had been successful in a row. n India Newsletter • 11
Embassy of India, Vienna
he Volkswagen Group-owned Swedish truck major, Scania Commercial Vehicle, earlier this week inaugurated its first integrated manufacturing facility in Asia on the outskirts of Bangalore in Naraspura. Set up with an investment of Rs 250 crore, the facility will serve as a key exports hub for its premium trucks and buses to Africa, South East Asia and SAARC region apart from serving the large Indian market. Having sold over 1,000 trucks, Scania is now betting big on locally produced luxury buses (inter-city and city buses) to drive growth. Martin Lundstedt, president and CEO of Scania Global, in an exclusive interview to ET, says the investment in India will play a key role â€” not a big volume contributor in the future, but a significant development and sourcing base for the company. Excerpts: Q: How important is India as a base for Scania and its future growth? A: This is our first fullfledged manufacturing plant in Asia. History will tell you that when Scania invests, it is for the long term. We will use the local competence, and the local skills and make it a part of our global network. We will grow at a pace where we can prove ourselves. At the end of the day, we are selling B2B and that can only be proven by the customers. And therefore our effort is to deliver solutions to the customers that they feel confident about the product uptime, fuel efficiency and service. The growth will come only when these values are secured. Q: The new plant has been set up at a time when the Indian market is going through a protracted slowdown. Is it a right time to invest and what are the challenges? A: Pace of infrastructure development is the key for growth. With the current slowdown, are we worried? Nope. Because we 12 â€˘ India Newsletter
are not looking at two or three years. Eventually the market will revive. With rising aspirations of the people, demand will return. GST and retail reforms, if implemented, will augur well for the economy. India is a big country, it is a rich country in different aspects. There are challenges, and these come in the form of opportunities. We think the timing is very right to invest in the base now. Q: You have a capacity of 2,500 trucks and 1,000 buses. When do you expect to produce at full capacity? The biggest task is creating the trust among customers, instead of running behind targets as shown in power point presentations. The numbers will come only when our customers put trust in our solutions, go in repeat purchase, and be our brand ambassadors. Q: Since this is your first plant in Asia, can it play a role of exports hub for Scania? A: So far we have been very fortunate to have built up a strong customer base (1,000 trucks sold so far), in different truck segments. It shows that our assumptions of future growth in India are correct. We don't want to make a bold statement that India could be the next Latin America, but from a macro perspective, India will start playing a bigger role in the Indian Ocean region over the coming years.Our plant is based on global production systems. We have a lot of customers with Indian heritage in East Africa and South Africa and then there would be opportunities in South East Asia and neighboring countries as well Q: What about you investment plans for India? A: We are very pragmatic when it comes to investment. We will move step by step. We have announced Rs 250-crore investment, but apart from financial investments we are also
building up engineering capabilities, SIT networks and customer base. These are also investments, but that is not seen in the balance sheet. For the time being, this is the right level of investment. Now it is up to us to prove our capabilities from products, services and engineering perspective, before we commit more. But is that a ceiling? Absolutely not. The Scania India MD is part of the management group and that is also a sign of importance we are placing on a country. Q: The commercial vehicle market has remained sluggish for last three to four years. When do you think the market will go back to pre-crisis level? And what role would emerging markets play? A: The growth rates in the emerging market will be different from the growth rates in markets like Europe. Emerging markets would not only play an important role from macro economic growth perspective but will also be driven by rising population that will demand more mobility solutions in the times to come. Europe will gradually come back, but again forecasting is very difficult. What is required is stability, even if it is on a low level. Going ahead, Asia, with its demands of improving logistic infrastructure, will drive growth. Q: Any target or milestones in mind for India? You have a global 2020 vision... A: Our global target of 1.2 lakh trucks per annum, 15,000 buses and 20,000 engines by 2020, those are not created with a top-down approach, but a bottom-up approach by gauging prospects from big markets like India. We have set aside a very clear ambition, but we are humble enough to say that it will not come by executives sitting in the room, but it will be done through hard work in the market, creating the trust among customers, show that we can make a difference in the lifecycle of the product.
INDIA-AUSTRIA IN FOCUS Indian IT professionals coming to Austria to solve “Fachkräftemangel”
ome 15,000 companies in Austria operate in the IT industry alone, employing more than 170,000 people. As a result, ICT is one of Austria’s key business sectors, and is even bigger than the tourism industry when measured against the country’s GDP. In the last few years this booming sector resulted in growing demand for software engineers in Austria. Recruiters are unable to fill thousands of open positions with local candidates and companies as well as the chamber of commerce called politics for help to open the labour market for skilled immigrants from EU as well as NonEU-countries. Finally in 2011 the Austrian government has introduced a flexible new immigration scheme: the Red-White-Red Card (RWR-Karte). It aims to facilitate the immigration of qualified third-country workers and their families with a view to permanent settlement in Austria. In the last view years a growing number of Indian IT professionals used the new regulations to find employment in Austria. Andrea Lang and Wolfgang Bergthaler, the Founders of the Austrian HR Consultancy “MI Recruitment”, see a lot of potential for Austrian companies to fill their vacancies with software engineers from India. MI Recruitment recruits experienced IT experts directly in India and places them with Austrian companies. We have caught up with two of their matches, who have come to Graz earlier this year and asked them about their motivation to come to Austria and their experience living and working in the Styrian capital. Mr Sharma (29) is from New Delhi and has done his Masters in Software Systems from one of India’s most reputed universities: BITS Pilani. He has got about seven years of
experience in software development working for various multinational corporations in India before he has joined a Graz-based software company. His wife joined him to move and settle in Graz. Mr Arjunan (25) comes from Chennai and has done his Bachelor’s in IT at one of the oldest universities of India. Previously we has working as a Software Engineer in Indian Multinational Corporation for about four years. Now he has joined his new employer in Graz, along with Mr. Sharma. How did this job opportunity in Graz come up for you? Mr Sharma: I was actively looking for a job in Europe through various job portals. I found the profile of MI Recruitment online. After the first screening they introduced me with their client who was looking for a Software Developer for their team. After couple of interview rounds, I got the job offer in Graz. Mr. Arjunan: My experience was similar. I was looking for a job in Germany online and found my new job in Austria through MI Recruitment. What was the main motivation for you to take up a job in Austria? A: I wanted to gain international work experience. That was the main reason to take up this job. The job profile was in my areas of interest and expertise. So I took it without second thought. S: My main motivation to take up a job in Austria was high quality of life and exposure in the global market. How have the first months been for you? S: Graz is a very small city as compared to Delhi. The first few months have been really nice. The company as well as MI Recruitment have been very helpful in settling us in the new country and culture. The public transportation is very good and it is very safe. The funny part is that everything closes at 7 o’clock in the evening but we have now adjusted to it. It is very beautiful and I am really enjoying living in Graz.
A: As the system here, from transport to food to work culture to language, is completely different from India, first few weeks were quite difficult. But one can learn and adapt quickly. The quality of living is undoubtedly better here. What differences in work culture do you see, if you compare India with Austria? A: Work hours are totally different here. People start working early at around 7am and leave early. Tasks are well planned in advance. S: I like the work culture here. I find the tracking of work hours and the break hours very nice and nobody encourages you to work more than the working hours. What was your experience with the legal process of immigration (RWRCard) and how long did it take to clear it? S: The legal process of immigration is not perfect. The process is not defined very clearly on the website so you have to call them and clarify on a lot of things yourself. But once the forms were submitted, I got my papers in three weeks. Upon arrival in Graz, I got the RWR card in seven days. The local administration office (Bezirkshauptmannschaft) was very efficient. A: My process took much longer, approximately 10 weeks to get my work permit. It needed a lot of followups. Another week to get an entry visa. I wish the process could have been more transparent and quick. What do you miss most in Graz? A: I would say food. K: Yes, Indian street food. (smiles) About MI Recruitment MI Recruitment is an HRConsultancy specialised in matching highly qualified engineers from India to Austrian IT companies. Find more information online: www.mirecruitment.eu India Newsletter • 13
Embassy of India, Vienna
11th ASEM Foreign Minister’s Meeting concluded in New Delhi
he 11th ASEM Ministerial Meeting was held in New Delhi on 11th and 12th November 2013. The ASEM FMM11 was attended by 34 Foreign Ministers and 11 Deputy Foreign Ministers from Asia and Europe. All 51 ASEM members were represented. The Austrian delegation was headed by Dr. Reinhold Lopatka, State Secretary, Federal Ministry for European and International Affairs. Vice President of India, Shri M. Hamid Ansari inaugurated the ASEM FMM11. The overall theme of the meeting was “ASEM: Bridge to Partnership for Growth and Development.” It provided a very useful opportunity to have discussions on a number of issues of interest, including economic and financial issues, sustainable development, nontraditional security challenges and regional and global issues. The conference also assessed the achievements of ASEM over the past 17 years of its existence as well as the way forward. In the meeting, the members agreed to intensify efforts to bring about greater synergy between Asian and European partners in ASEM across the three pillars of political dialogue, economic collaboration and socio-
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cultural exchanges. Members agreed that the dynamism of ASEM should find expression in tangible result-oriented initiatives which could be utilized to define joint responses by Asia and Europe to global and regional challenges and also seize opportunities for growth and development. 12 areas were identified by members for tangible cooperation. For each area, multiple countries have expressed interest in identifying specific initiatives for enhancing cooperation in that area between ASEM members. India would be working with interested ASEM partners in the areas of Sustainable Water Management, Energy Efficiency Technologies, Disaster Mitigation and Response, Vocational and Skills Training and Education and Human Resource
Development. The External Affairs Minister, Shri Salman Kurshid, speaking at a press conference on 12th November said that the members exchanged views and ideas on how to revive growth, create jobs especially for the youth and catalyze economic growth during the meeting. He added that they also discussed non-traditional security threats in detail, particularly, terrorism, drug trafficking and transnational crimes and exchanged ideas to address food, water and energy security, as well as address the emerging issues of cyber space and the issues related to cybercrime and cyber security which are confronting national governments and institutions on both Continent.
INDUSTRY The Indian Insurance Sector
robust insurance sector is a boon to a country’s economy. The sector facilitates long-term funds for infrastructure development and simultaneously strengthens the risk-taking ability of the country. India’s rapid economic growth and development over the past decade is considered to be very significant on the global canvas. Indian insurance sector is poised to mark great progress in the years the come. Over the past few years, many foreign insurance companies have ventured into the Indian landscape in order to harness the immense untapped latent potential of this industry. Moreover, the favourable regulatory environment ensures stability and fair play in the entire market. The total insurance market stood at US$ 72 billion in FY12 and is expected to touch US$ 139 billion by 2015. Over FY03-12, life insurance premiums increased at a compound annual growth rate (CAGR) of 20.1 per cent. Private players have increased their market share in the life insurance market to 29.3 per cent in FY12 from 2 per cent in FY03. The rapid development in Tier II and Tier III cities and growth in new bankable households have led to the emergence of a large insurable class with an appetite for sophisticated life insurance products. LIC is still the market leader, with 70.7 per cent share in FY12, followed by ICICI Prudential, with 4.9 per cent share. The Insurance Regulatory and Development Authority (IRDA) has recently allowed life insurance companies that have completed 10 years of operations to raise capital through initial public offerings (IPOs). Insurance products are also covered under the exempt, exempt, exempt (EEE) method of taxation, which translates to an effective tax benefit of approximately 30 per cent on select investments.
Crop insurance market in India is the largest in the world, covering around 30 million farmers. The Government of India plans to increase the coverage to 50 million during the 12th Five-Year Plan. Health insurance continues to be one of the most rapidly growing sectors in the Indian insurance industry. Penetration of health insurance is expected to more than double by 2020.
Industry Dynamics Seamless growth in the insurance segment is dependent upon certain factors. Some of these include■■ Effective distribution channels – the efficacy and cost of various distribution channels are significant to ensure success of players in the insurance business, more so for retail businesses. ■■ Focus on overall financial inclusion – insurance sector in India has increasingly started focussing on enhancing financial inclusion in the country as its long-term objective. The mission of the insurance business should be to provide cover to a larger section of the population and a wider segment of activities. ■■ Consumer needs and preferences – Indian insurance industry has evolved through product innovation, dynamic distribution channels, and vibrant publicity and promotional campaigns by the insurers. Innovation can be seen not only in the form of benefits attached to the products, but also in the delivery systems (through various marketing tie-ups). All these efforts have brought insurance companies closer to the customer as well as made it more relevant. Health insurance is also an upcoming segment in this sector. Health insurance accounts for only 10 per cent of overall US$ 30 billion healthcare spends in India. Thus, there lies a lot of scope for development for players in this arena. Life insurance penetration in
India is about 4 per cent of the country’s gross domestic product (GDP) in terms of total premiums underwritten annually, according to the Insurance Regulatory and Development Authority (IRDA). State-owned Life Insurance Corporation (LIC) enjoys a dominant position with almost 71 per cent of the market share. Meanwhile, there are 23 private players in the life insurance sector.
Key Statistics ■■ Indian life insurance sector collected new business premiums worth Rs 11,742.7 crore (US$ 1.92 billion) for April-May 2013, according to data from IRDA. Life insurers collected Rs 1,07,010.7 crore (US$ 17.5 billion) worth of new premiums for the financial year ended March 31, 2013. ■■ Meanwhile, the general insurance industry grew by 19.6 per cent in April-May period of FY14, wherein the non-life insurers collected premium worth Rs 13,552.46 crore (US$ 2.21 billion).
New Developments/ Product Launches ■■ United India Insurance (UIICL), the second largest general insurance company, intends to open 530 new offices in 2013 pan-India. As of now, UIICL has 1,340 offices in the country, as per their website. In 2012-13, the company had collected total premium of Rs 9, 266 crore (US$ 1.51 billion) and has set a target of raking-in Rs 11, 000 crore (US$ 1.8 billion) in financial year 2013-14. ■■ New India Assurance, the stateowned general insurer has inked a memorandum of understanding (MoU) with Institute of Company Secretaries of India (ICSI) to provide an exclusive portal for members, students and employees of the institute. Under the agreement, the insurer would enable access to a portal through a link in the institute’s web site. The portal will provide India Newsletter • 15
Embassy of India, Vienna
insurance like personal accident, health insurance, professional indemnity and motor insurance covers. The portal would allow remittance of premium through payment gateway by credit card, debit card or net banking.
gain’ would offer pricing benefits of
up to 5 per cent on the total family
Banks would be required to apply under the direct broker category. The licence, once granted, will be valid for three years.
New India Assurance is aiming for 20 per cent growth in business at about to Rs 15,000 crore (US$ 2.45 billion) in 2013-14 and is ready to expand its overseas operations in Myanmar, Qatar and Canada.
Meanwhile, it also expects the share of health insurance segment to account for 30 per cent of its total business over 2013-15. Currently, health insurance accounts for about 26 per cent of its total premiums. ■■ Private sector player Reliance General Insurance is planning to launch a health insurance scheme soon for independent woman and girl child at a discount, as part of its effort to empower women and support their healthcare needs. The scheme – named ‘Reliance Health
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premium in case of the addition of a girl child. Pricing benefits would also be extended to single women and widows, informed Rakesh Jain, CEO, Reliance General Insurance.
ministers chaired by Prime Minister Manmohan Singh has decided to hike foreign direct investment (FDI) limit in the insurance sector to 49 per cent from the existing
Banks can now offer their customers policies from various life and nonlife insurance companies. Until now, brokers included only exclusive intermediaries for insurance distribution. The new regulation now allows this business to be carried departmentally within a bank.
26 per cent. The move is expected
to ripe benefits soon, in terms of
Industry body CII projects the growth rate for Indian insurance industry in 2013-14 at around 5 per cent. It also projects that 60 per cent of non-life insurance companies would record an average growth of more than 10 per cent. Increasing the FDI limit from 26 per cent to 49 per cent in the sector is being viewed as a major factor to push the insurance density in India.
more foreign investments into the country. Moreover, in order to enhance financial inclusion in the country, and boost bancassurance as a business, IRDA has allowed banks to sell insurance policies, subject to prior approval from the Reserve Bank of India (RBI) before applying for a licence to act as an insurance
EXPERT BUSINESS ADVICE The article below was extracted from Dezan Shira & Associates’s publication entitled “India Briefing”. For further corporate assistance, consider contating Dezan Shira & Associates, a specialist in foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in emerging Asia. For further details or to contact the firm, please email Mr. Olaf Griease under firstname.lastname@example.org or visit www.dezshira.com
Preparing Foreign-Invested Entities for Annual Audit in India
ndia is often perceived as an investment destination full of red tape and bureaucracy, yet in fact with some attention to detail, the legal and financial operational procedures can be relatively easily expressed – if you know what you are doing. As always, forearmed is forewarned, and any successful business should have its operational procedures laid down and working efficiently. Annual audit procedures help assess companies for purposes of taxable income, but they can also provide a working blueprint of the company which can help management evaluate company efficiencies and deficiencies. In this article, we explain the procedures that a foreign-invested enterprise (FIEs) in India can expect to go through during the audit process, and outline some of the guidelines to prepare yourselves for the inevitable questions your auditors will have. Firstly, it is important for FIEs about to be audited to make sure that the auditor is familiar with the company’s business operations. This means spending some initial time with your auditors explaining your regular business activities. Briefing Your Auditor To ensure you get the best possible feedback from your auditor, they should be given some brief
background knowledge regarding the nature of your business, the activities you are carrying out, the procedures you follow while making purchases and sales, and towhat extent you are following internal control procedures. This latter point your auditor will check as part of the “kick the tires” exercise, but it helps if you first explain to them how you think this operates. Their report – even if it contains criticisms – should help you better manage your business in the future and close any potential operational loopholes. Identify the Production Process You should provide your auditors with a list of the major raw material inputs you are using in production. They will want to note the steps you are following for the conversion of raw material into finished goods, as well as verify internal controls at the time of inputting raw material. Opening Balances Verification Your auditor will ask you to provide the opening balances report from your management accounts and will verify whether the opening balances have been carried forward correctly from the previous year’s audited financial statements. It is not uncommon for some minor adjustments to be necessary. Vouching of Purchases Your auditor will also ask to examine the purchasing procedures and may ask you to draft a flow chart explaining this - which is very relevant for their understanding of
company operations. It is common for parasitical employees to insert favored suppliers into your supply chain in the form of family businesses or those paying backhand commissions. Your auditors will want to conduct price surveys on your major purchases to ensure that you are not being overcharged for your most popular supplies. They will also compare purchase vouchers with the pertinent taxable invoices received from the seller, and material received notes (MRNs) to confirm whether or not the quantities and amounts match. This requires a considerable amount of time. As such, it is recommended that you have a properly trained internal accounting team in place to satisfy this request and make it easier for your auditors to evaluate your paper trail. Auditors will also check whether the rates of materials on invoices tally with purchase orders raised by the company, and whether the dates on MRNs relate to the current accounting period. Vouching of Journal Vouchers, Tour Bills, Cash and Bank You may also expect your auditor to verify whether the supporting bills tallied with the journal vouchers and the expenditures relate to the current period. While verifying the journal vouchers, the auditor will ensure that the appropriate tax deduction at source (TDS) was deducted wherever applicable; it is a relatively common internal mistake India Newsletter • 17
Embassy of India, Vienna
that TDS is not calculated. Again, the better your internal processes are, the easier it is to go through and pass an audit examination with confidence. For travel and related expenses, your company should be prepared to provide supporting documentation. Executives racking up air miles and trips overseas may be asked to provide evidence of the necessity of these expenses in their job descriptions and employment terms, so be careful over this issue. Your auditors will want to verify whether these expenses are within the prescribed limits set for the position in question. When dealing with cash purchases and petty cash, auditors will want to verify whether any cash payments have exceeded INR20,000 (in accordance with regulation Section 40A(3)) and also check for credit balances in cash. They may also spot-check for verification of cash, as well as check whether the Bank Reconciliation Statement is correct. Reconciliations During the course of the audit process, your auditors will want to reconcile the following items: ■■ VAT returns with purchases and sales; ■■ Provident fund contributions; ■■ Professional tax contributions; and ■■ Employee state insurance contributions. These payments are statutory and applicable to all companies in India. Inventory Stock Audit Manufacturers For manufacturing entities, you
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will need to demonstrate that your business maintained its RG 23 books and stock registers when manufacturing or processing materials. To do this, your auditors will need to ascertain whether the RG 23 A Part II / RG 23 C Part II are aligned with your purchase registers and that input credits have been recorded correctly. The auditors will also verify your Personal Ledger Account (PLA) register to determine whether payments were made through PLA after considering your input credit, and will also carry out a Physical Stock Verification to ensure that the physical quantity of goods reconciles with the inventory register. Miscellaneous ■■ Rental Agreements Has your office or factory rent been paid per the rental agreement? Are rental agreements up to date? ■■ PAN Numbers for Contractors Is your company maintaining photocopy PAN cards for contractors? Starting from the 2011-2012 accounting year, every company now has to maintain the PAN numbers of all persons who come under the TDS applicability for your company. If the PAN is not provided to the company who is deducting TDS, the company needs to deduct TDS at a rate of 20 percent - applicable for the time being as per the recent changes to the Finance Act. Summary For many executives who find themselves having to face unfamiliar audit and financial examination procedures, the annual audit process
can appear a daunting proposition. Yet it is actually designed to fulfill two specific functions. Firstly, audits are conducted to ensure that your business is declaring the right amount of finances in the properly prescribed manner, so that the government can properly assess your business for any taxable income. It is important for foreign investors to note that not only can the Indian government levy fines for any untoward accounting behavior, but poor financial record keeping can now impact upon the liabilities of foreign executives and the head office in terms of compliance with other responsibilities such as fulfillment of the U.S. Foreign Corrupt Practices Act regulations and similar legislation introduced in Europe. Secondly, a good audit will identify areas of weakness and make recommendations as to where these should be resolved. Annual audits are also there to assist and provide tips on how to improve management practices, stay in compliance, and lessen the risk of financial troubles. Finally, should your audit or procedures come up short, it may be time to examine your internal business processes, including the competency of the staff charged with carrying out the company’s operations. This will help ensure that your business operates to audit standards throughout all of its operations. The key to corporate success is a well run internal system, and your annual audit should help provide the guidelines on how to achieve this.
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 email@example.com to get more information about possible assistance/subsidies.
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Embassy of India, Vienna
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To open the calendar of events, scan the QR-code with your smartphone or access
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Embassy of India, Vienna
INVEST INDIA Federation House, Tansen Marg New Delhi—110 001 0091-11-23765085, 23487278 firstname.lastname@example.org www.investindia.gov.in
nvest India is the country’s official agency dedicated to investment promotion and facilitation. Set up as a joint venture between FICCI (51% equity), DIPP (35% equity held by the Department of Industrial
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policy and Promotion, Ministry of Commerce & Industry) and State Governments of India (0.5% 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.
TOURISM Museums & Art Galleries
ndia has a bounty of artefacts and monuments dating from prehistoric days to modern times. These inanimate symbols bear witness to the country's glorious past and give a glimpse of its varied heritage and culture. The first museum, the Indian Museum was established in Kolkata (formerly Calcutta)in 1875. And now, when you visit any Indian state, you will find museums that house priceless findings of the ancient, medieval and modern era. Be it in the form of sculptures, coins, statues, ornaments, paintings, memorabilia, weapons, fabrics,engravings or even books and manuscripts. Museums all over the country exhibit objects that range from finds at archaeological sites, miniature paintings, royal memorabilia to India’s finest traditional crafts. Of course, this varies from one museum to another. New Delhi’s National Museum exhibits a range from terra-cotta figures of the 5th and 6th centuries BC to exquisitely damascened swords of the Mughal period. Also in New Delhi, the Crafts Museum displays the folk art of India. Periodical exhibitions include textiles, wooden sculptures of coastal India and other thematic subjects. Jaipur’s City Palace, itself an object of wonder, houses a collection of royal i2 memorabilia, as do the museums in other parts of Rajasthan: Bikaner, Jodhpur, Jaisalmer, Alwar and Bundi. Each of these were princely states whose rulers were great patrons of art, and miniature paintings in the distinctive style of each state forms the nucleus of many a museum’s treasures. In Gujarat, the city of Ahmedabad has a sprinkling of museums, all the private collections of an individual or a family. The Shereyas Museum of Folk Art, the Calico Museum of
Textiles, theKite Museum and the Utensils Museum, each display another facet of the rich heritage of craft traditions of Gujarat. Vadodara’s museum is housed in an old palace building and includes extremely rare bronze figurines. In the north, Jammu’s two museums display a valuable collection of miniature paintings collectively known as ’Pahari’ or hill schools. Srinagar’s SPS Museum is the only place in India where one can see stone sculptures of deities executed in the distinctive style that was a hallmark of Kashmir in the 7th to 11th centuries. Bhopal’s museum revolves around the considerable tribal skill of Madhya Pradesh, the focus of which is dhokra figures, made in the lost wax technique out of bell metal. Pune’s Dinkar Kelkar Museum is the lifelong collection of one man whose theme was the celebration of everyday life in art. Ink pots, cooking vessels and betel nut crackers, all display the wealth of everyday art. Hyderabad’s most famous museum is the Salar Jung Museum, again a personal collection which features priceless treasures and whimsical objects side by side. Trivandrum has a museum whose building is
probably the most photographed edifice in the city. Objects displayed inside are exquisitely carved bronze temple figures. Cochin has a number of museums housed in buildings that were built by the Dutch as palaces, and by local rulers. A small museum on the outskirts of the city is the Museum of Natural History, the vision of its founder. Sound and light shows bring to life all the figures exhibited that range from classical dancers to Portuguese traders. Calcutta too has a museum that was the personal collection of one family, at Mallick’s Palace. It is impossible to give a brief account of a subject that requires a full volume to itself. Every city or town in the country will have a museum featuring classical, tribal or folk art. During the last few years, the contemporary art scene in the country has blossomed into a high profile attention getter, auctioned at never before prices by international auctioneers. The works of all India’s best artists are pre sold almost always, but can sometimes be seen at art galleries in New Delhi, Bombay, Madras, Calcutta, Vadodara and Trivandrum. Art exhibitions are held in these cities from time to time, and feature solo and group shows. The Indian Museum, ca. 1905
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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 infoasstt@indianembassy. at or via phone at +43 1 505 866633 (Ms. Lily John).
Guzaarish - Die Magie des Lebens
oa-based dancing Magician becomes paralyzed, losing all bodily functions below his neck, and is bed-ridden. He is looked after by Nurse Sofia D’Souza, a victim of spousal abuse; his mother, Isabel; and two servants, Rosy and Maria; in a dilapidated mansion. With this support he becomes a Radio Jockey, and when his health deteriorates after 14 years, asks Devyani Dutta, to file a Petition in Court, seeking permission to end his life. Devyani accordingly does so, and the petition is opposed by Counsel Vipin Patel on behalf of the Government of India. Then Omar Siddique enters his life, wanting to learn the secrets behind his magic tricks, and Sofia’s spouse, Nevil, reenters her life. Thinking about his past, and the accident, Ethan now awaits the Court’s verdict, while his Radio fans and others discourage him from euthanasia. ■■ Director: Sanjay Leela Bhansali ■■ Stars: Hrithik Roshan, Aishwarya Rai Bachchan, Shernaz Patel ■■ Genre: Comedy/Drama/Romance ■■ Duration: 116 min ■■ Release Year: 2010 ■■ Language: Hindi/English ■■ Subtites: German
Showtime November 29th, 18:00 Indian Embassy Business Centre (1st Floor, Kärntner Ring 2, 1010 Vienna) India Newsletter • 25
Embassy of India, Vienna
INDIA IN AUSTRIA Remember Shakti «Celebrating 40th Anniversary of Shakti»
like two souls, two thoughts, a story,” Hussain told the special magic of “Shakti”. “Goddess of Power” is the translation of the Sanskrit word, which the two selected for their project and it isthis energy that the two musicians still transport with the classics of the fusion, even decades after their first joint tour in the various concert halls of the world. ■■ Artists John McLaughlin | Guitar Zakir Hussain | Tabla, Percussion Shankar Mahadevan | Singer V. Selvaganesh | Kanjira, Ghatam, Mridangam U. Shrinivas | Mandoline ■■ When Sunday, 17 November, 2013 - 7.30PM ■■ Where Wiener Konzerthaus - Großer Saal Lothringerstraße 20 1030 Vienna ■■ Further Information www.konzerthaus.at
Improvisation miniature painting-music-dance
adha Anjali – dance, Polina Ghazur – painting, Rina Chandra – bamboo flute, Peter Wiesinger – guitar, Gerhard Rosner – table ■■ When: Sunday 24 November, starts at 5 p.m. ■■ Where: Natya Mandir Studio, 1010 Vienna, Börseplatz 3/1D
estern guitar music with roots in jazz and rock meets classic Indian tabla player - that was a sensation in 1975 and today it is still, “Remember Shakti” with John McLaughlin and Zakir Hussain. In a worldwide tour, the two celebrate with singer Shankar Mahadavan, Selvaganesh Vinayakram, Kanjira and Uppalapu Shrinivas on mandolin their decades-long friendship. Since the 1970s, there is a special connection between McLaughlin and Hussain. “We are 26 • India Newsletter
Guest at Elisabeth AlHimrani’s No 94: Nilesh NATHWANI
ilesh Nathwani lived in India for decades, made a pilgrimage to Mount Kailash in 2000 and wrote a book about it. ■■ When: Thursday 14 November 2013 at 7pm - admission starts at 6:30 p.m. and is free. ■■ Where: Natya Mandir Studio, 1010 Vienna, Börseplatz 3/1D
n the occasion of a new project on “Smart Cities for India” initiated by the Institute for urban construction at the University of Technology in Vienna, the AustroIndian Association together with the University of Technology Vienna and the Austrian Institute for Technology (talks ongoing) organize an “India Day” in the Böcklsaal of the University. The project is about the great challenge India is facing to get the massive urbanization of the country under control. By 2030, city population will have increased by 200 million people and by 2050, almost 500 million people more will live in urban agglomerations (according to UNDESA). On “India Day”, especially social, political, economic and ecological topics of today’s India will be discussed. However, historical, cultural and artistic topics won’t fall short either, creating potential to contribute to the understanding of the subcontinent. ■■ When: Tuesday 26 November 2013 - all day long ■■ Where: : University of Technology Vienna, Karlsplatz, Böcklsaal
FESTIVAL DAYS in the Natya Mandir Studio
he Natya Mandir Association for the promotion of the Indian dance art in Vienna celebrates its 30th anniversary. Together with students and dancers of the Natya Mandir Dance Company, Radha Anjali will perform a selection of dance projects and highlights. Dance performances, films, presentations. Supported by MA 7 – Culture. ■■ When: 29 November – 3 December 2013 ■■ Where: Natya Mandir Studio, 1010 Vienna, Börseplatz 3/1D
Festival in Details: ■■ 29 November at 7:30 p.m.: “30 years in one hour” – a crossselection of the dance history the Natya Mandir ■■ 30 November at 5 p.m.: From Tattu Adavus to Arangetram – SISYAS ■■ 2 December at 7:30 p.m.: “In memoriam Kama Dev” ■■ 3 December at 7 p.m.: Foundation day, films and history of the beginnings of Natya Mandir
Indian Cinema Workshop
he rise of multiplex cinema vis-à-vis the mega films: an Indian Cinema Workshop by Indian Cinema History specialist Dr. Nirmal Kumar, Associate Professor at the Department of History, Sri
Venkateswara College, University of Delhi and guest professor at the University of Vienna ■■ Where: Indian Embassy Business Centre (Kärntner Ring 2, 1010 Wien) ■■ When: 14, 21 and 28/November starting at 18:00
aat in Hindi means “Market”. Vienna Haat is a market place for exclusive handmade products from India or an Indian touch. It provides a platform for Indian artists living in Austria and Austrians alike to present and sell their hand-made premium products in the local market. ■■ Where: Erdbergstrasse 10, 1030 Wien. ■■ When: November 23rd from 13:00 to 18:00
■■ More Info: www.viennahaat.at Among the exhibitors: ■■ Alpine Wineries www.alpinewineries.com ■■ Club Chai www.facebook.com/clubchaiwien ■■ HennArt by Mehndi Jazz www.facebook.com/mehndijazz ■■ Little Flower littleflower-india.org/de/spenden/ ■■ Lost In Colours lostincolours.tumblr.com ■■ Sanchali www.sanchali.org ■■ Sebastian Buchner www.sebasbuchner.com ■■ Stefan Mey http://w w w.amazon.de/Indien2-0-Twittern-Tuk-Tuk- ebook/dp/ B00ASB6V72
NOTICE BOARD EMBASSY’S LIBRARY ■■ The EMBASSY’S library is opened mondays and wednesdays from 11am to 1pm without appointment. ■■ For scheduling an appointment outside the opening hours, please contact the information assistant under email@example.com or 01 505 8666 33
BUSINESS CENTRE ■■ The EMBASSY’S Business Centre is opened DAILY from 11am to 1pm without appointment. ■■ For scheduling an appointment outside the opening hours, please contact the commercial wing under the contacts given below. ■■ Marketing Officer: firstname.lastname@example.org or 01 505 8666 30 ■■ Marketing Assistant: email@example.com or 01 505 8666 31
STUDENTS WELFARE OFFICER ■■ Mr. Pawan T. Badhe, Third Secretary 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 15 and firstname.lastname@example.org
FACEBOOK ■■ Our Facebook page targets 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 just reached the 1000 followers mark! ■■ ‘Like’ our facebook page and be the first to know!
www.facebook.com/IndianEmbassyVienna India Newsletter • 27