India woos French food companies

Source:, Oct 21, 2016

New Delhi: Food Processing Minister Harsimrat Kaur Badal has invited french food companies to invest in India and said 100 per cent FDI in marketing of food products offers vast opportunities for the global firms.

The minister is on an official visit to SIAL Food Show 2016 in France.During the course of her visit, she met key industry players in France to discuss investment and collaboration opportunities between India and France in food processing, food technology and retail industries, industry body CII said in a statement.

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How MNCs using cross-suits to gain corporate edge

Source:, Oct 21, 2016

New Delhi: On 25 August, ITC Ltd filed a suit before the Delhi high court claiming copyright and trademark infringement by Britannia Industries Ltd, which it said was trying to pass off Britannia NutriChoice Zero digestive biscuit as ITC’s Sunfeast Farmlite Digestive All Good biscuit.

The blue-and-yellow pack of Britannia’s biscuit, said the suit, was similar to that of ITC’s.

Britannia’s arguments were expected to be defensive in nature. Instead, the company went on the offensive, claimed 66% share and leadership in the digestive biscuits category, and told the court that it was in the process of filing a cross-suit against ITC Ltd for the use of yellow colouring in digestive biscuits. Britannia’s own digestive biscuits do so and are yellow.

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Pulses, metals, fuel may play spoilsport in cooling CPI inflation

index.jpgSource: Business Standard, Oct 21, 2016

New Delhi: Consumer Price Index (CPI)-based inflation is likely to face upward pressure from pulses such as gram and from sugar, beside edible oils, metals and fuel.

However, the rate of price rise came down to 4.33 per cent in September, its lowest monthly rise in a little over a year, from 5.05 per cent in August.Inflation could trend upwards to the Reserve Bank’s (RBI) target of five per cent by the end of this financial year or slightly breach it, economists said. They think RBI might cut its policy rate in its December review.

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RBI eases norms for foreign investment in startups

Source: Business Standard, Oct 20, 2016

Mumbai: Reserve Bank of India (RBI) has eased norms for foreign investment in start-ups. The banking regulator said that any Foreign Venture Capital Investors (FVCI) which is registered under the Securities and Exchange Board of India (Sebi) Regulations can invest in equity or equity linked instrument or debt instrument issued by an Indian ‘start-up’ irrespective of the sector in which the start-up is engaged. They will not require any approval from RBI.

Here, a start-up will mean an entity (private limited company or a registered partnership firm or a limited liability partnership) incorporated or registered in India not prior to five years, with an annual turnover not exceeding Rs 25 crore in any preceding financial year.

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RBI allows 100% FDI in regulated financial services

Source: The Economic Times, Oct 21, 2016

KOLKATA: The Reserve Bank of India (RBI) has opened the gates for more overseas investment coming to India by a series of steps liberalising the foreign direct investment rules, even as it braces for a possible $26-billion outflows on account of FCNR-B deposit (foreign currency nonresident-bank) maturities.

The central bank has allowed 100% foreign investment through the automatic route to the regulated financial services companies other than banks or insurance companies, and simplified rules for easier entry of venture capital funds to startup ventures. It has also eased external commercial borrowing regulations.

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BMW to make India global hub for small bikes

index.jpgSource: The Economic Times, Oct 18, 2016

NEW DELHI: BMW has decided to make India a hub for the company’s smallest bike — the G310R, the 313cc motorcycle, which will be manufactured in partnership with the TVS Group, and will be exported to the company’s home market Germany as well as countries across Europe and in the US.

The G310R is one of the most ambitious bets taken by the German auto major that sells motorcycles under the ‘Motorrad’ brand. This is perhaps the first time that the company will have a bike under 500cc, and the decision to sell the brand across major global markets displays plans of positioning it as a large-selling volume product.

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Brazil embraces “Make in India”: Perto/Digicon opens its first ATM machine plant in India

Source: The Economic Times, Oct 20, 2016

New Delhi: Just as the the VIII BRICS Summit came to a closure, Brazil inaugurated its first “Make in India” initiative. The Brazilian Perto S. A., a Digicon Group company, a high technology and IT company and the world’s leading manufacturer of Automatic Teller Machines (ATMs) and Cash Dispenser Machines (CDMs), inaugurated its first plant in India, in the Mahindra World City in Jaipur on Wednesday.

“As we launch the Perto factory in Jaipur, we undoubtedly take another significant step towards a solid commercial and investment relationship, based on high technological content and added value, setting a model to be followed”, said Brazilian Ambassador Tovar da Silva Nunes at the inauguration. Rajasthan Minister of Industries Gajendra Singh Khimsar, founder of Group Perto/Digicon, Joseph Elbling; the CEO of the group, Thomas J. Elbling and the CEO of Perto India, Roberto Baur were also present on the occasion.

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