INDIA NEWSLETTER Indian Embassy, Vienna
Published by the Embassy of India, Vienna Year 5 • Issue 60 • December 2015
MAKE IN INDIA DEFENCE MANUFACTURING India Newsletter • 1
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The Digital India programme is a flagship programme of the Government of India with a vision to transform India into a digitally empowered society and knowledge economy Digital Infrastructure as a Core Utility to Every Citizen
Governance and Services on Demand
Digital Empowerment of Citizens
www.digitalindia.gov.in 2 â€˘ India Newsletter
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The new Government has prepared a five pillar strategy to drive India’s growth, which offer multiple avenues of collaboration and investments
■■ Infrastructure Development
■■ Manufacturing Growth
■■ Skill Development
■■ Energy Sufficiency
■■ Improved Business Environment
www.makeinindia.com India Newsletter • 3
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I n d i a n pharmaceutical market has crossed the Rs 1,00,000 crore (US$ 14.9 billion) mark in November 2015 on the basis of Moving Annual Total (MAT): IMS Health.
India’s internet usage has increased by 49 per cent so far in 2015, and the number of rural mobile internet users is expected to reach 87 million by end of December 2015.
India’s industrial output increased at a rate of 9.8 per cent in October, 2015 which is the fastest rate of growth in the last five years: Ministry of Statistics and Programme Implementation.
Cabinet approves Central Legislation to declare 106 additional inland waterways as national waterways.
M i c r o s o f t announced it shall incubate 500 Indian startups in the next 5 years.
Fitch Ratings has affirmed India’s Long-Term Foreign- and Local-Currency Issuer Default Ratings at ‘BBB-’. The issue ratings on India’s senior unsecured foreignand local-currency bonds are also affirmed at ‘BBB-’. The Outlooks on the LongTerm IDRs are Stable.
Indian-American woman develops ‘Super Condom’ that stops HIV transmission even after breaking.
The central government is taking a number of steps and initiatives like 10-year tax exemption for solar energy projects, etc., in order to achieve India’s ambitious renewable energy targets of adding 175 GigaWatts (GW) of renewable energy, including addition of 100 GW of solarpower, by the year 2022.
Foreign Direct Investment (FDI) in India has increased by 24 per cent to US$ 60.69 billion in the last 16 months.
India’s largest rooftop solar power project commissioned in Punjab. 4 • India Newsletter
B e n ga l u ru - b a s e d Wipro Ltd, India’s third largest software firm, has acquired Cellent
AG, a German technology company which implements and maintains SAP software for clients in automobile and manufacturing segments, in a deal worth US$ 78 million.
India has topped the corporate
globally, as per KPMG Survey of Corporate Responsibility Reporting 2015.
India is expected to become as the
in the world in FY 201516, replacing China, with estimated cotton production of around 400 lakh bales
India added the highest number
subscriptions of 13 million during the third quarter of 2015, which was equal to the additions of China (7 million) and US (6 million) combined.
The Indian Institute of Science (IISc),
Bangalore has become the first Indian institution to enter the Top 100 universities ranking in engineering and technology.
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INDIA-AUSTRIA & EMBASSY NEWS India Stall at RENEXPO Salzburg The Embassy of India, Vienna, has set up an India Stall at the RENEXPO Exhibition, Salzburg between 2627th November, 2015. With its combination of trade show, congress and forums, RENEXPO is the largest meeting place for efficient and international business dealings in Austria within the renewable energy sector. The India Stall at the event had as its main goal the promotion of the current and imminent opportunities in the Indian market for renewable energy technology as well as promoting the Make in India campaign.
PTC India Financial Inks Loan Pact With OeEB PTC India Financial Services Limited (PFS), a leading infrastructure finance company, has signed an agreement with Oesterreichische Entwicklungs Bank AG (OeEB), the Development Bank of Austria for External Commercial Borrowing (ECB) of $20 million at highly competitive interest rate.
At the India Stall, profiles of the 25 focus industries of the Make in India campaign along with catalogues from several Indian companies in the field of Renewable Energy were distributed among Austrian corporates. Indian businessman, Mr. Bimal Amin, Managing Director of the company Auro Power Systems Pvt. Ltd also participated on the exhibition.
As per the agreement, PFS will utilize the ECB towards growth of its renewable loan portfolio and help it in lowering its interest cost which has total tenure of about 10 years including two year moratorium on principal repayments. “We are delighted to announce our association with OeEB which provides finance to private companies in developing countries and emerging markets. With this
As the only country stall present in the exhibition, the Indian Stall was able to draw the attention towards India’s aim of reaching out to Austrian corporates and offered the opportunity for guests to interact with the Embassy and discuss the major topics addressed by the event and unveal the potential India has for the Austrian and European Renewable Energy Industry as well as discuss current opportunities
collaboration, we will expand our finance portfolio for renewable projects in India,” said Ashok Haldia, managing director and CEO, PTC India Financial Services Limited. PFS offers varieties of financial products to infrastructure companies in the energy value chain. It also provides fee-based services such as loan syndication and underwriting. India Newsletter • 5
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NEWS ARTICLES India remains an attractive investment destination India remains an attractive destination for Foreign Direct Investments, seeing around $34.4 billion enter the economy in 2014, research by Arthur D. Little shows. Much of that money (10.5%) goes towards investments in services, followed by telecommunications (9.4%). Although the majority of investors are positive about the economic development of India than they were last year, barriers remain, including infrastructure and government legislation. Foreign Direct Investment (FDI) generates considerable benefits to economies towards which it flows. Externalities such as better business models, processes, technologies, training and best practises are stimulated through such investments. FDI also tends to bring with it job-led economic growth, something which emerging economies are keen to capitalise on. FDI remains critically important even in well developed economies such as the UK, which still sees considerable inflows according to a recent Grant Thornton report. Recent research by Arthur D. Little, titled ‘INDIA Investment Opportunity’, explores FDI entry into India, as well as the sentiment of investors in the Indian economy. The report is developed from an analysis of the Indian market as such, and is complemented with answers of more than 100 investors and business leaders in India and internationally about their current perception of the Indian economy. ■■ Global FDI The good news for India is that its FDI inflow has seen an increase of $9.1 billion, from $25.3 in 2007 to $34.4 billion in 2014. Other big winners have been China, where FDI increased from $83.5 billion to $129 billion, and Brazil. Particularly developed economies have seen considerable decreases in FDI. The UK is down almost $110 billion 6 • India Newsletter
since 2007, while Japan lost 90% of its FDI seven years. The increase in inflow is positive for the expansion aims of India’s long term economic plans, as the country is now in need of both domestic investment as well as FDI. The country’s savings and investment rates were between 600 and 800 basis points lower in 2012 & 2013 compared to 2007 & 2008; the result of poor natural resource utilisation and labour productivity. According to the report, to bring about the much needed investment in the economy, FDI is a must. ■■ Indian FDI In terms of a breakdown of FDI into India, the last three years show a relatively mixed bag. 2013 was a low year compared to 2012 when the country benefited from $29.7 billion in investments. The number of FDI projects has increased since the start of Shri Narendra Modi’s government, suggesting that investors have been more confident in the country’s direction. ■■ Sector investment The research also tracked the destination of FDI in financial year 2014-15 and finds that the largest chunk, 10.5% or $3.2 billion, was invested in the services industry. Telecommunication followed, with investments of $2.8 billion, while trading saw $2.7 billion or 8.9% of the total. Services, such as computer software & hardware and auto also attracted significant FDI inflows worth $2.5 billion and $1.1 billion respectively. This, according to the researchers, showcases the positive effort of government initiatives such as ‘Make in India’ and ‘Digital India’. The largest inflow of money came from Mauritius (35% of the total). This is largely due to India’s Double Taxation Avoidance Agreements with Mauritius. Singapore is the second largest investor source (14%) and the UK, the old colonial power, comes in third with 9% of total. ■■ Investor sentiment
To find out what investors think about investing in India, Arthur D. Little asked more than 100 investors and business leaders about their current perception of the Indian economy. The majority (51%) of respondents are positive about the country’s outlook compared to a year earlier, while 34% are seeing the future more bleak. The qualities of the Indian economy most affecting respondents is the domestic market at 41%, technical talent at 30%, new government incentives at 17% and investor protection at 12%. The country’s poor infrastructure is seen as the biggest barrier for FDI investors (31%), followed by tax complexity (19%) and government regulations (16%). The most concerning macroeconomic features are high interest costs as cited by 39% of respondents, while real GDP growth is a concern for 19%. The biggest concerns investors have in the Indian economy is legislative delay, cited by 37% of all respondents, followed by poor infrastructure (21%) and the high cost of capital (17%).
India’s largest rooftop solar power project commissioned in Punjab The north-Indian state of Punjab has further strengthened its position in the nation’s solar power market, commissioning another large rooftop solar power project of 12 MW. Tata Power Solar, a leading integrated solar power solutions company, recently announced that it commissioned a 12 MW rooftop solar power project in Punjab, claiming that the project is the world’s largest rooftop solar power project to be commissioned in a single phase. The project was commissioned at RSSB Educational and Environmental Society at Amritsar. Another similar project, with 7.2 MW capacity was also commissioned at the same location in 2014, which was proclaimed the
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world’s largest solar power system on a single rooftop. According to Tata Power Solar, the new 12 MW rooftop solar power system is expected to generate over 15 million kWh of electricity and offset greenhouse gas emission equivalent to 19,000 tonnes of carbon dioxide every year. Last year, Tata Power Solar also commissioned a 2 MW rooftop solar power project for a textile manufacturing company in the state of Tamil Nadu. The project, which is expected to have an eventual capacity of 4 MW, is claimed to be the largest rooftop solar power project in southern India. Tata Power Solar, which emerged from the remnants of a joint venture between British Petroleum and Tata Power (Tata BP Solar), constructs solar power projects as well as manufacturing solar power modules and other related equipment. The company is among the leading names in India’s rooftop and distributed solar power market. As India plans to set up 40 GW of operational rooftop solar power capacity, as part of its larger plans to set up 100 GW solar power capacity by 2022, Tata Power Solar eyes a massive market opportunity.
India requires Rs 31 trillion for infra development over next five years: report Over the next five years, India will require as much as Rs 31 trillion for infrastructure development, around 70% of which will go into power, roads and urban infrastructure segments, according to a white paper released by Associated Chambers of Commerce and Industry of India and Crisil Ratings. “To provide uninterrupted power supply to homes and factories, and improve roads, telecom, transport and other urban infrastructure, the country would need an investment of more than Rs 6 lakh crore of every year or around Rs 1,700 crore every day from April 2015 to March 2020,” the white paper said.
Even though banks have faced severe stress in lending to long-term projects, bank debt is likely to be the most used funding avenue by the sector, followed by bond issuances and external commercial borrowings. Two-thirds of the investments would come from debt, half of which will be through banks. Rs 7.5 trillion, 35% of the total, could be raised through bonds, and Rs 3.2 trillion, or 15%, via ECBs. Bank lending towards the sector has grown 28% over the past decade, which is higher than their overall credit growth. The challenge in such exposure to infrastructure sector is the risks of an asset-liability mismatch (ALM) given that the infrastructure project loans have long tenures while bank deposits mature in short term. Banks and financial institutions have lent Rs 75,000 crore to the power sector for projects of 16,000 MW, as on March this year. “While some have been boxed into a corner after aggressive bidding, others are facing cost overruns or gas supply issues. These projects don’t have strong sponsor company support and are not expected to turn viable in the long run,” Crisil said, adding this could lead to high accretion of non-performing assets from these accounts in the medium term. Not just power sector, but the buildoperate-transfer projects in the road segment of about 7500km under the NHAI are under risk, as half of the projects are not complete and have high cost over-runs now. The under-construction projects require equity and cost overrun support of around Rs 28,500 crore over the next two years. Of this, about Rs 16,000 crore could come from the internal accruals of sponsors and sale of stake at the SPV level. That leaves a significant shortfall of Rs 12,500 crore,” the white paper said. The ideal mode for financing infrastructure projects will be for banks to focus on funding up to the pre-commissioning stage of projects, the paper said. Later, when the project has attained stability after commissioning, banks can look at
refinancing the debt through bonds to long-term investors. “Such refinancing will free up considerable quantum of bank funds and enable these funds to be deployed in new infrastructure projects. While this financing model will allow banks to address their ALMs better, bond investors will also get good-quality, long-term assets with stable cash flows,” the white paper said. Also, such financing, where banks lend up to the commissioning stage, can bring respite to developers in the form of reduced costs and fixed rates of interest. This would require banks to adopt a stronger risk-based pricing model for project loans in tandem with the risk associated at different stages of the project.
1000 companies may be part of Make in India week The Department of Industrial Policy and Promotion (DIPP) is hoping that the ‘Make in India’ initiative will provide momentum to the domestic companies as well as increase the share of manufacturing in India’s GDP to 25% from about 17% at present. In order to give a boost to the initiative, the government plans to hold a ‘Make in India week’ in Mumbai in February 2016. The event will see the participation of over 1,000 companies, DIPP secretary Amitabh Kant said on Thursday. “Despite the global slowdown we must continue to liberalise economy and grow foreign direct investment by 30%...We have vigorously opened up economy for FDI,” Kant said, making a case for domestic manufacturing. Kant said that Make in India 2.0 will be instrumental in the growth of manufacturing in the country and through focus on labour intensive areas it will add to employment opportunities as well. “Countries such as the US and UK have 33% of GDP coming from manufacturing and the share is now declining and moving towards services... We have grown on the back of service industry...when in India Newsletter • 7
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the development stage India should focus more on manufacturing,” he said. With research and development one of thrust areas of Make in India, Kant said that the time is ripe for India to get the best technology from Europe for making hybrid and green automobiles. “The movement of such technology to India needs to be accelerated if we want to achieve low levels of emission and tackle the menace of pollution,” he said. ‘Make in India week’, to be held from February 13-18, will focus on ten key sectors,including aerospace and defence, automobile, construction, food processing, infrastructure, pharmaceuticals, information technology and textiles. It will feature exhibition of innovative products and manufacturing processes, a hackathon and sessions on urban planning, among other events. Prime Minister Narendra Modi had launched the Make in India programme on September 25, 2014 in the presence of over 120 chief executives of major Indian companies.
India better placed than peers over US rate hike: Fitch India is better placed than many of its peers after the US Federal Reserve raised its key interest rates, as per credit rating agency Fitch Ratings. According to Mr Thomas Rookmaaker, Director, Sovereign Ratings, Fitch Ratings, there are a number of reasons for India’s relative resilience. Firstly, as he puts it, India’s external balances have significantly improved since mid-2013, with foreign exchange reserves rising by US$ 65 billion to US$ 353 billion as of November 2015, and the current account deficit (CAD) has narrowed. Secondly, India is less dependent on commodity exports than some of its peers. He further stated that only a small part of India’s sovereign debt is denominated in foreign currency and the country’s favourable economic growth outlook makes it relatively 8 • India Newsletter
attractive to foreign investors.
World Bank approves US$ 1.5 billion to support ‘Clean India’ campaign The World Bank has approved a loan of US$ 1.5 billion to Government of India for its Swachh Bharat Mission (SBM) Support Operation Project which is aimed at ensuring all citizens in rural areas have access to improved sanitation and end the practice of open defecation by 2019. The loan will be disbursed over a five-year period and is for a tenure of 18 years. The World Bank has extended this loan with a view to strengthen the implementation of the Swachh Bharat initiative of Indian government, which will thereby result in significant health benefits for the poor and vulnerable in the rural areas. Mr Onno Ruhl, World Bank country director for India appreciated that the two important components of the project are incentivising good performance by states and focussing on behavioural changes. The Ministry of Drinking Water and Sanitation (MDWS) will play the overseeing and coordinating role for the programme and support the participating states. The World Bank has also planned to provide a parallel US$ 25 million technical assistance to build the capacity of select state governments. The assistance to states will help them implement community-led behavioural change programmes targeting social norms to help ensure widespread usage of toilets by rural households.
India one of the most preferred real estate markets in Asia Pacific, says report The Indian real estate market has won back favour among foreign investors to become one of the most preferred destinations in the Asia Pacific, according to a report by PricewaterhouseCoopers (PwC) India. Overseas funds accounted for more than 50% of all investment activity in
India in the last one year, compared with just 26% for the whole of 2013, the consultancy firm said in a report titled Emerging Trends in Real Estate Asia Pacific 2016. “Flows of foreign capital to India began increasing dramatically at the end of 2014, with the amount invested growing almost 200% yearon-year by the middle of 2015,” the report said, citing data by Real Capital Analytics that provides information on commercial property. PwC attributed the growing interest among foreign investors into the Indian real estate market to some of the liberalization measures adopted by the government in the recent past. For instance, reducing the minimum size of built-up areas in foreign direct investment (FDI)-linked real estate projects to 20,000 sq. m from its earlier requirement of 50,000 sq. m has led to “increasing confidence among institutional investors they can find an exit”, it said. “From a deal structure perspective, while mezzanine financing continues, a shift in the favour of equity structures has occurred, especially in big-ticket transactions in commercial assets such as business parks and IT parks,” said Abhishek Goenka, partner, PwC India. Foreign private equity funds are now some of the biggest corporate real estate owners in India, after starting from scratch in 2011-12, the report pointed out. Among the Indian cities, Bengaluru has emerged as the most preferred real estate investment destination, overtaking Mumbai and New Delhi in the previous years. The report attributes the surge in Bengaluru’s rankings to its technology industry and the availability of a large pool of skilled labour that is necessary to ramp up venture capital-backed start-ups. A huge amount of upcoming supply of commercial office inventory in Bengaluru is not perceived to be a cause of concern, as it is expected to be matched by an equally high absorption rate, the report said.
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‘For Google, India to be bigger market than US by next year’ Sundar Pichai, global chief executive at Goggle, the giant search engine, believes India will become a bigger market for the company than the US sometime in the middle of 2016. In an interaction with half a dozen journalists here on Wednesday, he said it was not only with regard to the use of Android-based phones that India would scale ahead of the US. There were also many areas of technological development where India would become Google’s first market for experimentation and trial, before launch in other markets. “We developed the offline version of YouTube in India, tried it here, and are now taking it to other countries,” Pichai said in his first media address since taking over as Google global head in August this year. Alumnus of IIT-Kharagpur, who joined Google in April 2004 within days of the company launching Gmail, he said it was an emotional experience to come to India and launch these initiatives here. Elaborating on the Google Loon project, which envisages the use of floating balloons to transmit data to devices using the internet, Pichai said the company was working with data carriers like phone service providers to roll out the new facility. Google believes in a systems approach and would follow through the processes in India as well, he said. Google Loon would essentially derive its advantage from these balloons, which would be like floating towers and naturally work more effectively in less densely populated areas. Innovation would continue to be the platform on which Google would work, he said making payments more effective was now a big focus area. He hoped India, too, could exploit its potential as an innovation hub. For this, he emphasised the need for an education system to encourage creativity, and taking the risks. Aadhaar, the biometrics-based identity system launched by former
Infosys CEO Nandan Nilekani, he said, was foundational. On net-neutrality, Pichai said the principle was critical for growth and innovation. Google endorsed it, since it underlined the core internet principle of a free and open environment. The values of diversity were universal and applied to the US as much as to India. Pichai said this in response to a question on what he felt about the intolerance debate in India, amid his recent comments criticising antiMuslim views coming from some US leaders. Earlier in the day, Pichai announced Google would work with the Indian Railways to provide free Wi-Fi at rail stations, launching the first such service at Mumbai Central next month. Pichai also said his company was making Google products work better for Indians. New initiatives would include a lighter version of search results on webpages, creation of a virtual keyboard, making it easy to type in 11 Indian languages, launch of offline maps providing real-time navigation of roads and searches for locations without a data connection, and adding the facility of panoramic images for 250 Indian monuments.
Subsidy for Solar Panels Ministry of New & Renewable Energy is implementing two National level programmes (i) Grid Connected Rooftop and Small Solar Power Plants Programme and (ii) Off-Grid & Decentralized Solar Applications to promote installation of solar rooftop systems on the roofs of residential and other buildings in the country. This was stated by Shri Piyush Goyal, Minister of State (IC) for Power, Coal & New and Renewable Energy (IC) in a written reply to a question in the Rajya Sabha . The Minister further said that there is a provision for subsidy of 30% for general category States/UTs, 70% for grid connected solar rooftop and 90% for off-grid solar applications for special category States and
Islands of Andaman & Nicobar and Lakshadweep in the country. The large and major industries do require large utilization of power, however, there is no provision of subsidy to the industries by the Government for reducing power requirement to half. Government is, however, encouraging power saving through energy efficiency and conservation measures, the Minister added.
Industrial output growth zooms to 5-year high Industrial output grew at its fastest pace in five years at 9.8 per cent in October on robust festival demand, official data showed on Friday. A four and a half month high in doubledigit growth in manufacturing, particularly consumer durables and capital goods, fuelled industrial production. Industrial production, as measured by the Index of Industrial Production (IIP), grew 3.6 per cent in September and had contracted 2.6 per cent in October 2014, so the October expansion was on a low base. Economists warned October could turn out to be a statistical aberration. Industrial production rose 4.8 per cent in the first seven months of 2015-16, against 2.2 per cent in the corresponding period of the previous year. Manufacturing, which constitutes three-fourths of the IIP, grew 10.6 per cent in October, up from 2.6 per cent in September. The growth was the highest since June 2011. Electricity generation also kept pace at nine per cent growth in October, albeit lower than its 11 per cent rise in September. Mining improved over the three per cent rise in the previous month to 4.7 per cent growth in October. Within manufacturing, consumer durables were up by 42.2 per cent in October, against 8.4 per cent in September, due to the festivities. Consumer non-durables recorded a growth of 4.7 per cent, against a contraction of 3.5 per cent. As a result, consumer goods production rose India Newsletter • 9
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18.4 per cent, against 1.2 per cent in September. Capital goods grew 16.1 per cent, against 10.3 per cent, indicating rising investments may fuel the IIP in the coming months. Expansion in basic goods was static as these grew 4.2 per cent against 4.1 per cent. Output at core sector industries rose 4.2 per cent in October, unchanged from September. However, intermediate goods grew 6.7 per cent against 4.2 per cent. It was reported last month that firms were stocking up on furniture before the festive season and the trend continued with production of furniture registering a 138.9 per cent rise in October. Recording the highest growth among product categories, it had grown 69.9 per cent in September. The second-highest rise was in office, accounting and computing machinery, which grew 48.4 per cent. Terming industrial production numbers in October as “very good”, chief economic adviser Arvind Subramanian said: “It’s a high number, good number and encouraging number. But one has to be a little bit careful in interpreting this... especially this month, as there is a Diwali effect.” The spike in industrial growth is likely to be a short-lived statistical aberration, said Aditi Nayar, senior economist with Icra. “With a reversal of the base effect, we expect a substantial moderation in IIP growth in November 2015, in line with the trend recorded by automobile production,” she said. After growing 14.4 per cent in October, automobile production contracted 9.8 per cent the following month. Also, a slowdown in thermal electricity generation is expected to weigh upon the IIP in November. Shubhada Rao, chief economist with YES Bank, said: “It is unlikely that high growth of October will be sustained in November, as the base effect turns adverse, working days recorded are lower on account of festive season and there is inventory drawdown post pre-festive season ramp up. Hence, this month’s print should be 10 • India Newsletter
seen in conjunction with November reading, which could see a pullback.”
Tata continues to be India’s top brand Tata is the most valued brand in India, followed by Reliance Industries, Airtel, Life Insurance Corp. and State Bank of India, an annual survey by Interbrand India that ranks the country’s top 30 brands released. Brand Tata has topped the list for the third year in a row, and is valued at Rs.669.4 billion in 2015, a rise of 12% in brand value over the last year, according to Interbrand India, part of the Omnicom Media Group, an advertising and public relations conglomerate. Mukesh Ambani-promoted Reliance Industries Ltd, mobile network provider Bharti Airtel Ltd, stateowned insurer Life Insurance Corp. of India and State Bank of India, the country’s largest lender, figure in the list of top five brands. The biggest gainers for the year included software services provider HCL that saw a 27% jump in its brand value, followed by private lender Kotak Mahindra Bank, jewelry brand Tanishq that is made by Titan Co. Ltd, information technology provider Infosys Ltd, auto maker Maruti Suzuki Ltd and Asian Paints Ltd. These brands saw an increase in brand value by between 17% and 24% on average. The rankings are an analysis of the financial performance of the branded product or service, the role the brand plays in purchase decisions, and the brand’s competitive strength. Brand focus for the year pivoted towards better customer experience to cater to a newer consumer, said Ashish Mishra, managing director of Interbrand India. “Most companies who’ve gained have largely reacted well—with technology—to upgrading both product and services offered,” he said. Top-ranked brands have been keeping pace with a rapidly developing country and constantly changing needs of Indian consumers,
said Jez Frampton, global chief executive at Interbrand. Mishra cited the example of Kotak Mahindra Bank that in 2014 acquired ING Vysya. It seemed like a smooth transition across branches and ATMs even as the lender introduced newer digital products, he said. Another example was Maruti Suzuki, which announced the launch of its new upmarket dealership called Nexa this year. The move helped democratize even premium vehicles and helped with the brand’s popularity, Mishra said. State-owned Oil and Natural Gas Corp. Ltd was the biggest loser with its brand value tumbling to Rs.73.22 crore, a loss of 19%. Anil Ambani-promoted Reliance Anil Dhirubhai Ambani Group saw its brand value drop by 3% and mobile network provider Idea Cellular lost 2% in its brand value. This year saw media brand Zee as the latest addition to the rankings, replacing the country’s largest beer brand Kingfisher which dropped off from the list. The India ranking comes two months after Interbrand announced its global ranking that saw a surge in popularity of technology consumer brands such as Apple, Amazon, Google and Microsoft.
India accounts for half of Asia’s office leasing: study India accounted for half of Asia’s total office leasing in third quarter of 2015, said a new study. Delhi was the most active market, and substantial transactions were also seen in Mumbai as well as Bengaluru, said property consultant JLL’s Global Market Perspective (Q4, 2015). “Overall, leasing activity continued to improve in Q3, with Asia Pacific gross leasing volumes rising substantially by 27% year-on-year, following a solid Q2. The most active sectors across the region in the quarter were domestic financial institutions and technology firms. However, the improvement was inconsistent,” said Anuj Puri, chairman, JLL India.
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While India’s strong performance was matched by China that recorded a buoyant demand in Q3 (notably in Shanghai, where demand from domestic corporations has been particularly vigorous), leasing fell by 23% year-on-year in Australia as the robust pre-commitment activity of prior quarters tailed off. Similarly, Tokyo and Singapore saw a net reduction in occupation in Q3, JLL said. Office leasing volumes for the full-year 2015 in Asia Pacific are predicted to be 25% higher than 2014, with Tier I cities in China (particularly Shanghai) and India likely to continue to see the strongest activity. A further 5-10% growth in Asia Pacific leasing volumes is projected for 2016, assuming China’s economy does not slow more abruptly than expected, it added.
India has potential to grow at more than 9%: Economist Lawrence Summers India’s economy has the potential to grow at more than 9% for a decade and by about 8.5% in the subsequent 10 years but that will require speedier and effective reforms at central, state and local levels, eminent economist and Harvard University professor Lawrence Summers said. “At maximum potential India can grow at 9% for a decade, 8.5% in the decade after that and at 8% in
the decade after that,” Summers, president Emeritus and Charles W Eliot professor, Harvard University, said during a session at the Hindustan Times Leadership Summit. Achieving this growth rate, however, will require unwavering focus on reforms, quicker decision-making and speedier project implementation, he said. “This is only the potential, not my forecast,” Summers said.
Modi has recognised that the central challenge in attracting investment is effective implementation. Promoting public health, teaching children, infrastructure creation and regulation of institutions are India’s key challenges. “Clear recognition is the first step but cannot be the last step,” Summers said. “The global community would like to see how much of this can be carried forward.”
India has become the world’s fastest growing major economy, outpacing neighbouring titan China. While India’s gross domestic product (GDP) grew 7.4% during July-September, China’s grew 6.9% during the same period.
India’s development model, however, may have to be significantly different from China’s export-led manufacturing-driven framework.
At $2 .1 trillion, the size of India’s economy is among the world’s top 10 but it is still one-fifth of China’s, the world’s second-largest.
Summers, a former US treasury secretary, also said there were chances of the US Federal Reserve raising interest rates soon. “It is very clear. Given the current context, there isn’t any other alternative to raising interest rates,” he said.
If India’s “real” or inflation-adjusted GDP were to grow at over 9% consistently for a decade, the actual economy’s size could triple to more than $6 trillion in 10 years. Summers did not put out any probable numbers about the potential size of India’s economy, but said he was “very optimistic” about the country. “India is projected to become the fastest growing economy over the next five years, and will become of a significant size,” he said. He said Prime Minister Narendra
“India has to find a different path, which has to be largely servicedriven,” Summers said.
The US Fed Reserve is widely expected to raise interest rates later this month in the wake of strong signs of a recovery in the world’s largest economy. An interest rate hike in the US could trigger an outflow of dollars from emerging markets such as India as global funds move money to the US, seeking higher returns. That could hurt India’s stock and currency markets.
INDIAN EMBASSY LIBRARY ■■ The Embassy’s library is opened daily from 10am to 1pm without appointment. ■■ Our collection contains more than 2000 titles in dozens of categories. ■■ For appointments outside the opening hours or other inquiries, please contact us under email@example.com or 015058666 33 ■■ Download our latest catalog of books under indianembassy.at/pdf/ EmbassyLibrary.pdf India Newsletter • 11
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MAKE IN INDIA Summary ■■ Third largest armed forces in the world. ■■ 31.5% of budget spent on capital acquisitions.
■■ 60% of requirements met by imports. ■■ INR 250 Billion to be invested in 7-8 years.
Reasons to Invest ■■ India’s current requirements on defence are catered largely by imports. The opening of the strategic defence sector for private sector participation will help foreign original equipment manufacturers to enter into strategic partnerships with Indian companies and leverage the domestic markets and also aim at global business. Besides helping build domestic capabilities, this will bolster exports in the long term. ■■ Opportunities to avail defence offset obligations to the tune of approximately INR 250 Billion during the next 7-8 years. ■■ The offset policy (which stipulates the mandatory offset requirement of a minimum 30% for procurement of defence equipment in excess of INR 3 Billion) introduced in the capital purchase agreements with foreign defence players would ensure that an eco-system of suppliers is built domestically. ■■ The government policy of promoting self-reliance, indigenisation, technology upgradation and achieving economies of scale and developing capabilities for exports in the defence sector. ■■ The country’s extensive modernisation plans, an increased focus on homeland security and India’s growing attractiveness as a defence sourcing hub. ■■ High government allocation for defence expenditure. 12 • India Newsletter
definition of indigenous content.
■■ India has the third largest armed forces in the world. ■■ India is one of the largest importers of conventional defence equipment and spends about 31.5% of its total defence budget on capital acquisitions. ■■ About 60% of its defence requirements are met through imports. ■■ The allocation for Defence in the Budget 2015-16 was approximate INR 2467.27 Billion.
■■ 4. Provision for Maintenance TOT to Indian Industry partners.
Growth Drivers ■■ Defence Production Policy, 2011 to encourage indigenous manufacture of defence equipment. Defence Procurement Procedure (DPP) has been amended to provide for the following : ■■ 1. Preference to ‘Buy (Indian)’ and ‘Buy and Make (Indian)’ over ‘Buy (Global)’. ■■ 2. Simplification of the procedure for ‘Buy and Make (Indian)’. ■■ 3. Clear and unambiguous
■■ Defence products list for industrial licensing, has been articulated in June 2014, wherein large numbers of parts/components, castings/ forgings etc. have been excluded from the purview of industrial licensing. The same is available at the DIPP’s website, www.dipp.gov. in. ■■ The defence security manual for the private sector defence manufacturing units has been finalised and put in public domain by the Department of Defence Production. The manual clarifies the security architecture required to be put in place by the industry while undertaking sensitive defence equipments. ■■ The MAKE procedure, which aims to promote R&D in the industry with support from the government and the placement of orders (if R&D effort is successful), is also being revised to make it more attractive and unambiguous for the private sector.
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FDI Policy ■■ Up to 49% investment is allowed under the government route, above 49% on a case-to-case basis on approval by the Cabinet Committee on Security, wherever it is likely to result in access to modern and stateof-the-art technology. ■■ Investments by foreign portfolio investors/FIIs (through portfolio investment) are permitted up to 24% under automatic route. ■■ The defence industry is subject to industrial licenses under the Industries (Development and Regulation) Act, 1951. ■■ The requirement of single largest Indian ownership of 51% of equity removed. ■■ A lock-in period of three years on equity transfer has been done-away with in FDI for defence. ■■ FDI in the defence sector is subject to other security conditions.
Sector Policy ■■ PROCUREMENT POLICY: ■■ The defence procurement is governed by the Defence Procurement Procedure (DPP). The government has now decided to revise the DPP every year. ■■ OFFSET POLICY: ■■ The key objectives of the defence offset policy is to leverage capital acquisitions to develop the Indian defence industry. Mandatory offset requirements of a minimum of 30% for procurement of defence equipment in excess of INR 3 Billion have been envisaged. ■■ GUIDELINES FOR ESTABLISHING JOINT VENTURE (JV) COMPANIES BY DEFENCE PSUS: ■■ A well laid out policy for formulation of joint venture between Defence PSUs and private sector keeping in view the objective of Defence Production Policy. ■■ PROCEDURES FOR THE GRANT OF INDUSTRIAL LICENSES HAVE BEEN STREAMLINED: ■■ The initial validity period
of industrial licenses has been increased to three years from the present two years. ■■ Guidelines for the extension of validity of industrial licenses have been issued. ■■ Partial commencement of production is treated as commencement of production of all the items included in the license.
Financial Support ■■ KEY PROVISIONS IN BUDGET 2O14-15: ■■ Provision of INR 2,46,727 crore for defense services in the FY 201516 Union Budget. ■■ Capital outlay for Defence in 2015-16 is INR 94,588 crore. ■■ Out of this, INR 77,704 crore has been allocated for Capital Acquisition of the Defence Services. ■■ INR 17,181 crore provided under “Other than Capital Acquisition” segment for capital expenditure of Defence R&D Organisation (DRDO), Ordnance Factory Board, Inspection Organisation & other agencies and Capital Works projects of the Services. ■■ Either of the following two deductions can be availed: ■■ 1. Investment allowance (additional depreciation) at the rate of 15% to manufacturing companies that invest more than INR 1 Billion in plants and machinery acquired and installed between 01.04.2013 to 31.03.2015 provided the aggregate amount of investment in the new plants and machinery during the said period exceeds INR 1 Billion. ■■ 2. In order to provide a further fillip to companies engaged in the manufacture of an article or thing, the said benefit of additional deduction of 15% of the cost of new plants and machinery, exceeding INR 250 Million, acquired and installed during any previous year until 31.3.2017.
■■ TAX INCENTIVES: ■■ R&D Incentives – Industry/private sponsored research programmes. ■■ A weighted tax deduction is given under Section 35 (2AA) of the Income Tax Act. ■■ A weighted deduction of 200% is granted to assesses for any sums paid to a national laboratory, university or institute of technology, or specified persons with a specific direction that the said sum would be used for scientific research within a programme approved by the prescribed authority. ■■ For companies engaged in the manufacture of an in-house R&D centre, a weighted tax deduction of 200% under Section 35 (2AB) of the Income Tax Act for both capital and revenue expenditure incurred on scientific research and development. Expenditure on land and buildings are not eligible for deduction. ■■ STATE INCENTIVES: ■■ Apart from the above, each state in India offers additional incentives for industrial projects. Incentives are in areas like subsidised land cost, relaxation in stamp duty exemption on sale/lease of land, power tariff incentives, concessional rates of interest on loans, investment subsidies/tax incentives, backward areas subsidies, special incentive packages for mega projects. ■■ EXPORT INCENTIVES: ■■ Export promotion capital goods scheme. ■■ Duty remission scheme. ■■ Focus product scheme, special focus product scheme, focus market scheme. ■■ Incentives as per ‘merchandise Exports from India Scheme (MEIS)’ under new Foreign Trade Policy. ■■ AREA-BASED INCENTIVES: ■■ Incentives for units in SEZ/NIMZ as specified in respective Acts or for the setting up of projects in special areas such as the North-east, Jammu & Kashmir, Himachal Pradesh and Uttarakhand. India Newsletter • 13
Indian Embassy, Vienna
■■ Pilatus (Switzerland)
■■ Defence manufacturing.
■■ Lockheed Martin (USA)
■■ Raytheon (USA)
■■ Supply opportunity.
■■ Defence offsets.
■■ Boeing India (USA) ■■ MBDA (France) ■■ IAI (Israel) ■■ Rafael (Israel)
■■ Airbus (France)
■■ BAE India Systems (UK)
■■ Ministry of Defence, Government
of India ■■ Department of Defence Production, Ministry of Defence ■■ Department of Industrial Policy and Promotion, Ministry of Commerce & Industry, Government of India ■■ Department of Commerce, Ministry of Commerce & Industry, Government of India ■■ Defence and Strategic Industries Association of India
More info and registration: www.makeinindia.com/mumbai-week
14 • India Newsletter
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PERSPECTIVES ON INDIA 6 Government Initiatives that has improved India’s Reputation in the Global Market Satish Kota, Founder, ReputationXL & Author of “The Reputation Builder”. India is growing and at a great pace. Ever since Shri Narendra Modi took charge as the Prime Minister of India, there have been quite a number of initiatives launched till date. These initiatives though have given hope for Indians of changing times; they also have improved the reputation of the country in the global market. Since reputation is nothing but external perceptions of individuals or a group about someone or something, when it comes to the reputation of a country what is more important to a foreigner is that it is a country worth visiting, investing, working, purchasing or studying. By demonstrating these elements or behaviours, a country could easily improve it’s reputation. Having said that though Indian government is in full steam to build Brand India, inadvertently they are also building Reputed India. There are many initiatives of the government that have given more value to a foreigner to say “India is now a country worth looking at”. Here are 6 such initiatives that have made its name at the global level. Make in India: The main objective of Make in India initiative is to encourage and facilitate foreign investment into the country. This initiative offers businesses/investors to invest and manufacture in 25 industries or sectors in the country. Make in India has been so far the front runner of all the initiatives giving the world an opportunity to use Indian resources to their best abilities. Make in India initiative has built a reputation of a better investment opportunity in India.
Digital India: Though the objective of Digital India initiative is to digitize government activities, it also helps in improving the digital literacy. By this, even SMEs and MSMEs have started creating their digital presence and promoting their offerings in the internet. This, to a foreign buyer would create the confidence about the existence of the business and their offerings. Also by such presence, a business could build a reputation there by improving thei: value of their offerings. Skill India: Skill India initiative aims to train over 500 million people in different skills and generate a talent pool that could be unmatched in any part of the world. Skill India concentrates on areas where formal certification is lacking especially in the un-organized sector. The outcome of skill india is to train people such that they get employment not only in India, but also meet the demand of the world. This to a foreign investor gives the confidence of availability of right workforce to execute the necessary businesses or manufacturing capabilities than just availability of resources. Hence Skill India initiative becomes very important for an investor to invest into the country. Startup India: Startup India initiative aims to promote entrepreneurship in India. The aim of this initiative is to provide new dimension to entrepreneurship by helping to setup a network of startups in the country. By this opportunities of employment would increase not only for people in india, but also an opportunity for migrants (foreigner) who wish to come to india and work/ live here. Due to this initiative, India shall see a lot of migrants coming to India in search of greener pastures. Execute India: Though not a directly associated initiative, the plan on setting up on multiple IITs and IIMs in India has raised opportunities in developing specialized skill in technical and management. This
gives opportunities for an investor to find not only the generic skill to execute their business, but also specialized skill to manage them. This helps to eliminate the cultural and managerial differences between the management and the labour workforce and hence get issues resolved faster. Incredible India: Though an initiative of the previous government, the “Athithi Devo Bhava” initiative is promoted as part of Incredible India. The objective of this initiative is to train and provide orientation to all stake holders who interact with visitors. By doing so, it creates comfort to travellers and guests to be welcomed and treated well while on their visit and that increases the influx of tourism dollars to the country. With every country fighting for their share of tourists, a reputed country would command a better decision making for a traveller to visit and enjoy the country. Though there are many other initiatives created by the government for the benefit of the Indian citizens, from the perspective of a foreign traveller, investor, buyer, worker or a student, the other initiatives might not add value in their beliefs of India being a Reputed country. The role now lies in the hands of indian citizens on how they look at these initiatives and make the best use of it. A reputed person would eventually give rise to a reputed country and hence building and improving the reputation of one’s self or their businesses/organizations would result in improvement of the country and this shall raise to create a Reputed India. Reputed You, Reputed Nation (RYRN) initiative is promoted by Reputation XL whose primary objective is to help build Reputed India by means of creating awareness and providing necessary education and tools to build a better presence, brand and reputation for an individual or a business. India Newsletter • 15
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INDIAN TRADE FAIRS INTERESTED IN VISITING A TRADE SHOW IN INDIA? In case your company is interested in visiting a tradeshow/B2B event in India, be it one listed here or another one that came to your attention, get in contact with us via firstname.lastname@example.org to get more information about possible assistance/subsidies.
16 â€˘ India Newsletter
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India Newsletter â€˘ 17
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24-26 February 2016, Pragati Maidan, New Delhi, India Block your dates now 2nd Edition of Global Exhibition on Services (GES) The Government of India, Ministry of Commerce and Industry in association with Services Export Promotion Council (SEPC), India Trade Promotion Organization (ITPO) and Confederation of Indian Industry (CII) is organizing the second edition of the Global Exhibition on Services from 24 to 26 February 2016 at Pragati Maidan, New Delhi.
Highlights • Global Exhibition • Sector Specific Seminars • One on One Business Meetings • International Delegations • Networking Events • Cultural Evenings • Food Festival • Film Festival
www.gesdelhi.in 18 • India Newsletter
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he Council for Leather Exports (CLE), India is pleased to invite you to the 19th International Technical Footwear Congress of the International Union of Shoe Industry Technicians (UITIC) to be held during February 3rd to 5th 2016 in Chennai, India. The UITIC has been a pioneer in the dissemination of technical developments and knowledge in the footwear industry by facilitating information exchanges between its members. UITIC’s main activity is to organize an International Technical Footwear Congress which addresses the latest technical issues and problems. The Council for Leather Exports (CLE)-India is the Apex body for the international promotion and overall development of the Indian
he Medical electronics industry has witnessed a double digit growth in recent years and this growth trajectory is expected to continue due to the rising incidence of chronic diseases, increased urbanization and a growing elderly population and increased awareness about latest technology solutions to save augment life and rehabilitation. The influx of Medical Electronics technology has also reinforced the existing Healthcare infrastructure in various ways right from digitizing medical test, diagnostic
Leather & Footwear sectors, and will host the 19th UITIC Congress. The Congress will be held in Chennai, capital of Tamil Nadu State which is home to some of the leading footwear clusters of India. The Theme of the 19th Technical Footwear Congress is “Future Footwear Factory”. Advances in technology, design and information sciences have enabled the modernization of factories for producing footwear with advanced properties, making optimum use of resources. However there remains the perennial challenge of changing consumer demands and market vagaries. Also, today’s instantlyconnected world has ushered in a plethora of opportunities and challenges. Footwear factories have to adapt and improvise to
stay ahead in this dynamic scenario. The 19th UITIC Congress aims to bring together technical experts, manufacturers, and stake holders of the Footwear industry, for a period of intense deliberations on the theme. The long running and well-known India International Leather Fair (IILF), Chennai will take place on contiguous dates during January 31 – February 3 2016; adding further value to participation in the UITIC Congress. The 19th UITIC Congress, Chennai is now open for Delegate Registrations We also invite papers of Technical Merit and relevant to the Theme of the Congress for selection for Oral and Visual presentations at the Congress.
and therapeutic procedures to Manufacturers to showcase their enhancing the reach of Healthcare products and technology to the through Telemedicine and Health IT. Indian and International Business India Medical Electronics Expo 2016 Visitors from the Healthcare sector. which is being jointly organized by the Department of Pharmaceuticals, The Indian Medical Electronics Ministry of Chemicals & Fertilizers industry is currently valued at and Federation of Indian Chamber around 1 billion and has been of Commerce & Industry from 7th- growing at an average rate of 9th January, 2016 at Bangalore 17% for past couple of years. It is International Convention and strongly believed that growth will Exhibition Centre, Bangalore will outperform the pace, resulting give a huge boost to this growing sector of Indian Economy and in the Indian Medical Electronics provide a platform to the Medical market reaching close to USD ~6.5 Electronics and Equipment billion by the year 2020. India Newsletter • 19
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INVEST INDIA Federation House, Tansen Marg New Delhi—110 001 0091-11-23765085, 23487278 email@example.com 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
20 • India Newsletter
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.
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TOURISM Kabini - a Grey Tiger and Butterfly Viagra by Hugh & Colleen Gantzer. Yes, indeed, we did see a grey tiger. He was hiding in the bushes on the left and as our jeep approached in the dusk, his eyes glittered. Then he stepped onto the forest road, looked at us, and bounded into the jungle on our right. He was definitely grey, an ashy-grey which dulled the black and yellow of his stripes. We were delighted. Clearly, we had discovered a new subspecies : Panthera tigris gris gantzeri perhaps! Sadly, our elation was short lived. Dutt, the naturalist in our jeep said “The Forest Department has burnt the undergrowth on both sides of the road. Your tiger has been dusted with ash!” But, as if to compensate for the disappointment we felt, he stopped the jeep and pointed to a yellowflowered bush alive with a fluttering confetti of butterflies in a feeding frenzy. He identified the colourful insects. “They are Russell Lines, Blue Tigers, Dark Blue Tigers, Striped Tigers, and Crows feeding on the Common Rattlepod flowers. These Crotolaria retusa flowers contain the alkaloid Pyrrolizidine essential for the reproduction of some butterflies. The poisonous alkaloid also makes them distasteful to their major predators, the birds.” We were driving around the great Nagarhole National Park, 642 sq. kms of protected forest in our southern state of Karnataka. At one time, it had been the hunting reserve of the Maharajas of Mysore. At the edge of the forest, overlooking the olivegreen Kabini River, they had built their forest lodge in the style of the Rajera bungalows: red-tiled roof, deep verandahs, cane-and-teak furniture and framed photographs of high-andmighty hunters including the Grand Dukes of Russia. Both the Grand Dukes and the princely states of India no longer exist, but the graceful, unhurried, character of that age has
been carefully maintained by the former hunting lodge’s new owners: the state government’s commercial organisation, Jungle Lodges and Resorts. And presiding over Kabini is the redoubtable Colonel ‘Papa’ John Wakefield. There have been Wakefields in India since the 1800s and when John is in the right mood, with an amber noggin a this elbow, his tales of un-divided India would have made even Kipling envious. He has held us enthralled night-after-night and the only reason we were able to drag ourselves away from his den was because we had to be up and ready for the first pre-dawn drive the next morning. We have always been woken by a bearer bringing chota-hazree: tea or coffee and biscuits. We make sure we’re warmly clad: the micro-climate of the forest can be unexpectedly cold. The chill, however, makes animals a little less active than normal, and, consequently, easier to spot. Your first sighting could well be a family of wild pig snorting and digging for tubers and roots in damp patches in the forest. The males have vicious tushes and are very aggressive in protecting their harems and striped brood. Colourful jungle cocks are also vigilant as are peacocks bobbing their iridescent green necks like inquisitive serpents. They and the Did-you-do-its are the jungle’s early warning systems. But as the morning progresses, tribes of monkeys take up this duty, shrieking their warning from the tree-tops, alerting herds of chital, our beautiful spotted deer whose yap! of alarm sets the whole herd fleeing, flaunting the white flags of their tails as a danger signal. But, in spite of all this, we encountered a pack of beautiful wild dogs, dholes, who seemed quite unperturbed by it all. They are superb, and highly organised, team players. Perhaps the fact that only the alpha male and the alpha female may mate, though the pups are a pack responsibility, has made for the successive strengthening of the gene-
pool, weeding out the weak and noncooperative. Back to the lodge, then, for breakfast, and later, lunch in the circular, opensided Gol Ghar. This is the social centre of the jungle resort, it is the bar, buffet restaurant and chat room where tales are swapped of the sightings and the ones that got away. Everyone talks to everyone else. Here we’ve met the Born Free Group led by Virginia McKenna , Goldie Hawn and a senior Judge and his wife who we ribbed for being victims of starched protocol. We have not, as yet been hauled up for contempt of court! There isn’t really much time to idle away after lunch because the evening round begins between half-past three and four. Most grazing animals have an early, pre-dusk, dinner before settling down for the night. Others settle down for a longer period. One afternoon John stopped his jeep and led us along the banks of the Kabini reservoir. A spider had spun a web across the mouth of the hollow stump of a lightning-blasted tree. We couldn’t see in clearly at first. And then the setting sun lanced in and illuminated it in a shaft of crimson. There, her eyes gleaming in the eldritch light, was a python coiled up on her eggs. Such sightings are rare, but even the normal ones are exciting. You are almost certain of having fairly close encounters with herds of wild elephant. An elephant herd is a matriarchy of blood relatives ruled by the eldest female. Male and female calves stay with their mothers and aunts until they mature; then the young males either wander off on their own, or, if they still want to hang around, they’re chased off. They seem to have visiting rights only when the females in the herd are ready to receive them, after which they are on their own again, sometimes forming a temporary gang with a few other bachelors. As elephants remain pregnant for almost two years, and a new-born calf weighs only 90 kg, there is a long period of bonding India Newsletter • 21
Indian Embassy, Vienna
between the calves and the herd before the young ones can grow as big as the adults: 1,000 to 2,000 kgs for cows and an enormous 6,096 for bulls. Filial feelings are so strongly imprinted on the herd that, at the first sign of danger, the adults will form an outward-facing circle and shepherd the calves into the protection of their living corral. Towards sunset, or a little after dawn, you could also sight reclusive herds of our magnificent Indian Bison or Gaur. The adult black bulls could stand 190 cms at the shoulder and weigh upto1,000 kgs. The cows and young bulls are coffee brown, the calves are fawn and they wear white stockings and carry impressively curved, sharp, horns. In spite of their accoutrements, however, they are shy creatures who prefer grazing at night rather than locking horns with others. But don’t challenge them or threaten their calves. Not even a matador would like to take on a herd of charging horns! Which brings us to a more serene way of ending your day. Take a coracle, a basket-boat, ride in the pale mauve dusk on the Kabini River. It’s like drifting effortlessly through a Japanese silk-screen painting. And it gives you enough time to embroider on the tales you’ll tell when seated around the convivial bonfire in the Gol Ghar. Even if you did not see a grey tiger or butterflies zestful about their stimulant! QUICK FACTS The Kabini River Lodge with its colonial style bungalows, cottages and tented accommodation over looking the Kabini River is 220 kms by road from Bangalore, the nearest airport, and 80 kms. by road from the railhead of Mysore. Tel ; Karapur 0821-244402/3/4 Telefax:0821-244405 Reservations: Jungle Lodges & Resorts Ltd. ,II Floor, Shrungar Shopping Centre, MG Road, Bangalore 56000l, Karnataka. Tel:080-25582458. e-mail:firstname.lastname@example.org 22 • India Newsletter
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The India Development Foundation of Overseas Indians (IDF-OI) is a not-forprofit Trust established by the Ministry of Overseas Indian Affairs which enables overseas Indians to contribute to social and development projects in India. The Trust is exempt from the provisions of Foreign Contribution Regulation Act, 2010 The Trust is chaired by Smt. Sushma Swaraj, Hon'ble Minister for Overseas Indian Affairs. Other Board members are prominent overseas Indians, eminent resident Indians and Senior Government of India officials.
How We Work Submission of Projects by Nodal Organisations to IDF-OI Assessment & Selection of Projects by IDF-OI Selection of a Project by Overseas Indian Payment made by NRI/PIO Project Implementation - Agreement Between IDF-OI & Project Implementing Agency Funds Transferred to Project Implementation Agency Regular Monitoring & Feedback to Contributors by Implementing Agency Project Completion & Utilisation Report to Contributor by IDF-OI
Engage With Us You can select a project in totality or an individual component of a project as per state or sector of your preference. Recognition to contributors: Board at project site acknowledging contribution of Overseas Indians. Detailed Project Information: www.idfoi.org
“Although, the Indian Diaspora is a very heterogeneous group, there is a common factor which binds themtheir desire to maintain their connection with their homeland and to contribute to the social and development efforts in India. We are seeking to strengthen and deepen our relationship through IDF-OI.” Smt. Sushma Swaraj Hon’ble Minister of Overseas Indian Affairs & Chairperson, IDF-OI
Inviting Overseas Indians to Contribute to:
Swachh Bharat Mission Clean Ganga Mission State Govt Projects Send your Contribution to ‘India Development Foundation of Overseas Indians’ State Bank of India, Central Secretariat Branch, North Block, New Delhi 110001 A/C no. 33819721882; IFSC code SBIN0000625; MICR 110002014
India Development Foundation of Overseas Indians 927, Ministry of Overseas Indian Affairs, Akbar Bhawan, Satya Marg, Chanakyapuri, New Delhi- 110021 Website: www.idfoi.org Contact: +91 11 26881052/24676210; Email: email@example.com
India Newsletter • 23
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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 maoffice.vienna@ mea.gov.in
Kai Po Che (Brothers...For Life) ■■ Synopsis: The story goes around the three friends who start a business, also providing coaching classes and tuition. Omi asks for help with his uncle, who is also a political leader, to start this business. Govind provides tuition classes to some children and Ishaan gives cricket coaching. They come to meet a boy, Ali who is gifted with hyper-reflex. Ishaan then starts special coaching for the boy so that the country gets a new star player. But unexpected things happen suddenly and the story takes a turn. ■■ Genre: Sport, Drama ■■ Directed by: Abhishek Kapoor ■■ Starring: Amit Sadh, Sushant Singh Rajput, Rajkummar Rao ■■ Released: 2013 ■■ Duration: 127 Minutes ■■ Language: Hindi ■■ Subtitles: ENGLISH ■■ Image Quality: STANDARD
Showtime January 22nd, 17:30 Indian Embassy Business Centre (1st Floor, Kärntner Ring 2, 1010 Vienna) 24 • India Newsletter
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NOTICE BOARD EMBASSY’S LIBRARY ■■ The EMBASSY’S library is opened DAILY from 10am to 1pm without appointment. ■■ For a complete list of books available in our library, visit our website www.indianembassy.at ■■ For scheduling an appointment outside the opening hours, please contact the information assistant under firstname.lastname@example.org or 01 505 8666 33
BUSINESS CENTRE ■■ The EMBASSY’S Business Centre is opened DAILY from 10am to 1pm. ■■ For scheduling an appointment outside the opening hours, please contact the commercial wing under the contacts given below. ■■ Marketing Officer: email@example.com or 01 505 8666 30 ■■ Marketing Assistant: firstname.lastname@example.org or 01 505 8666 31
STUDENTS WELFARE OFFICER ■■ Mr. Pawan T. Badhe, Second 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 email@example.com
MINISTRY OF EXTERNAL AFFAIRS GOES MOBILE ■■ Avail services : passport, visa, consular assistance ■■ Ask your Minister : on the go, anytime, anywhere ■■ Follow your PM : on his visits abroad ■■ Find the nearest Indian Mission/Post : for emergency consular assistance ■■ Be informed : about India’s Foreign Relations on the move and form your own opinions ■■ Know more : about how to undertake Kailash Manasarovar Yatra and Haj Pilgrimage ■■ Download and watch : pictures & documentaries on India ■■ Play and Personalize : what you need, when you need ■■ Share and contribute : your views, pics & suggestions
Ministry of External Affairs proudly presents “MEAIndia” – an integrated smart app for mobile and other hand held devices ‘MEAIndia’ is now available for download on App Store and Google Play Store..
FACEBOOK & TWITTER ■■ Our Facebook and Twitter pages target the India-Austria community and covers subjects such as Business, Culture, Embassy News, India-related events and programmes in Austria, and much more. ■■ We have reached the 9000 followers mark on Facebook! ■■ ‘Like’ our facebook page and be the first to know!
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