M&A deals jump over two-fold to USD 35.84 bn in H1 2017

Source: IBEF.org, July 12, 2017

Mumbai: India Inc’s merger and acquisition transactions more than doubled in value terms to USD 35.84 billion, during the first half of 2017, says a report.

As per tax and advisory firm Grant Thornton, value of M&A deals stood at USD 15.82 billion, during the first six months of 2016.

During January-June 2017, a total of 198 M&A deals worth USD 35.84 billion took place. However, this deal volume is less compared to 260 transactions in the same period year-ago.

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India, Israel launch 5-yr tech fund to further business ties

download.jpgSource: The Economic Times, July 05, 2017

JERUSALEM: India and Israel today launched a five-year technology fund, reminiscent of a fund that boosted the Jewish state’s ties with US over four decades, and agreed to holds talks for an investment protection treaty in a bid to boost trade and business ties.

A joint statement, issued during Prime Minister Narendra Modi’s unprecedented visit to Israel, identified start-ups as among areas for boosting bilateral ties.

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Amid pending FTA talks, Israel looks to boost exports to India

Source: The Economic Times, Jul 04, 2017

JERUSALEM: Israel is eyeing the strong middle class base in India to boost its exports, capitalising on the the momentum generated by the “historic” visit of Prime Minister Narendra Modi, but scepticism persists here due to stalled discussions on a Free Trade Agreement.

“India is a key export market for Israel. Tightening relations with India and this historic visit of the Indian Prime Minister will lead, beyond increasing security exports, to growth in trade in goods and services,” Israeli Minister of Economy and Industry Eli Cohen said.

“The Indian economy is becoming a prime destination for Israeli exports, with its 1.3 billion consumers led by 300 million citizens in the middle and upper-middle class, with purchasing power equal to the middle class of Western economies,” Cohen noted. Read the rest of this entry »

Prime Minister Modi and Prime Minister Costa launch unique Start-up portal

Source: IBEF.org, June 27, 2017

New Delhi: Prime Minister Modi and Prime Minister Costa today launched a unique startup Portal – the India-Portugal International StartUp Hub (IPISH) – in Lisbon.

This is a platform initiated by Startup India and supported by Commerce & Industry Ministry and Startup Portugal to create a mutually supportive entrepreneurial partnership.

IPISH hosts a range of tools and will provide information on the start-up hotspots of Bangalore, Delhi and Lisbon; and on associated subjects, such as policy, taxation, and visa options. It will develop a Go-To-Market Guide to support start-ups.

IPISH is expected to help in mutual capacity building, and enable connections between start-ups, investors, and incubators from relevant sectors. It is also expected to establish a network of honorary ambassadors based in India and Portugal to guide start-ups from both countries.

Background:

There are strong complementarities between India and Portugal in the start-up sector. Portugal has one of the highest rates of business creation in Europe and has emerged as one of the most vibrant European eco-systems for entrepreneurship. Lisbon is hosting the Web Summit – a key annual international technology conference – for 3 years from 2016 onwards. The last Web Summit had 700 participants from India, and the number is expected to go up further this year. The governments of both India and Portugal are focusing on promoting Start-ups.

India, Portugal sign 11 pacts to boost bilateral ties

Source: IBEF.org, June 27, 2017

New Delhi: India and Portugal today announced a four million euros joint fund to bolster research in science and technology as Prime Minister Narendra Modi held in-depth talks with his Portuguese counterpart on cooperation in areas like counter-terrorism, space and climate studies.

In a joint address to the media after the signing of 11 bilateral agreements, Modi and his counterpart Antonio Costa said the two countries have made substantial progress in their relations in the past six months.

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First Narendra Modi, Donald Trump meeting

Source: Financial Express, June 27, 2017

Modi-Trump meet: When PM Narendra Modi met the US President Donald Trump, the latter termed India as a ‘true friend’ and added that the relationship between the two nations has never been stronger and better. In a joint press statement with PM Modi, Trump said that he is looking forward to working towards creating jobs in both the countries and a trading relationship that is ‘fair and reciprocal’. Calling India and the US as global engines of growth, Modi said that India considers the US as its primary partner for social and economic transformation in flagship programs. But another highlight of the meeting between the two leaders was the topic of terrorism. The two leaders agreed to fight against terrorism and destroy terrorist outfits. Read the rest of this entry »

India-Australia to boost collaboration in clothing, fashion

download (8).jpgSource: IBEF.org, June 23, 2017

New Delhi: India and Australia will intensify cooperation in the field of textiles, clothing, handloom and fashion, with the government approving an agreement between the two nations in this regard.

The Memorandum of Understanding between the Ministry of Textiles and the Department of Foreign Affairs and Trade, Australia will benefit weavers.

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