Indian companies created over 100,000 jobs in the US in recent months, which will define the relationship into the New Year. Biocon widens BristolMyers Squibb tie-up Biocon's contract research arm, Syngene International, has expanded its ongoing drug discovery and development with US-based Bristol-Myers Squibb till 2026. Syngene International said in a Bombay Stock Exchange (BSE) filing: "The next phase of the partnership will see the addition of a new facility to support future Bristol-Myers Squibb research and development operations, an [...]
London attracts many of India’s new adventurers looking to expand globally. A trade and investment expert from the mayor’s team tells ‘India Global Business’ why that will continue to be the case in the New Year. It is crucial London further strengthens ties with the great cities across India, because when it comes to business, we already share a special bond. We wish to underline the message that London is open to investment, trade and talent, and also that we [...]
India has got its electricity under control but still does not have an answer to its unrelenting thirst for imported crude. India has invested heavily in building up power plants to the extent there is a glut-like situation today. This year, India’s installed power capacity crossed 300 GW while peak power consumption is estimated in the range of just 140 GW. At least part of this excess capacity is lost as, at 27 per cent, the distribution and transmission losses [...]
From someone who vigorously campaigned for the UK to remain in the European Union, Alok Sharma now finds himself on a rather different kind of pitch as the Foreign Office Minister charged with Asia. His post-Brexit appointment led to a flurry of visits to Asia to deliver Prime Minister Theresa May’s “Brexit means Brexit” message. Many commentators call this century the Asian century. For historians, though, the reality is that the economic centre of gravity is merely returning Eastward. In [...]
To say that the year 2016 shook up the very foundations of the European Union (EU) would not be an exaggeration. The reverberations from the Brexit vote in Britain aside, the economic bloc is undergoing its biggest existential crises that will continue to unravel in the New Year. India has had a rather bumpy ride with the EU, not least when it comes to the now infamous free trade agreement (FTA) which has been stuck in various rounds of negotiations [...]
The underlying mood may be tetchy, but overall India-China relations covered some important ground in 2016. In 2016, particularly following the Nuclear Suppliers’ Group (NSG) plenary in Seoul in June, India-China relations became decidedly testy. Several reasons were attributed to this and it is possible all of them had a bearing on the outcome. Critics of the Indian government’s attempt to gain acceptance as a full member of the NSG blamed that motivation. They argued the bid was premature and [...]
India’s proactive Act East policy hinges heavily on the ASEAN free trade group and it is the many emerging economies in this collective that offer growth opportunities for Indian companies. The Association of South-East Asian Nations (ASEAN) comprises of the Philippines, Indonesia, Singapore, Malaysia, Brunei, Thailand, Cambodia, Laos, Myanmar and Vietnam. India’s focus on a strengthened and multi-faceted relationship with ASEAN was reinvigorated at the 12th ASEAN India Summit in Nay Pyi Taw, Myanmar, in November 2014, when Prime Minister [...]
India has lots of ground to cover in the African continent with its own version of economic diplomacy and the New Year will mark another chapter in the India-Africa outreach programme.
The Modi government has made much headway in its outreach to Africa but India still has lots of ground to cover before it can match Beijing’s heft in that continent.
The chief executive of Brussels-based trade group Eurochambres analyses whether the traditional trade agreement format is viable any more when it comes to India’s relationship with the European Union (EU). India has become the world’s fastest-growing large economy. It is the world’s seventh-largest economy in terms of gross domestic product (GDP), overtaking the G7 members Canada and Italy as well as Brazil. In 2015 India’s economy expanded despite agriculture facing a second consecutive drought year, with the Asian Development Bank [...]
The cancellation of the 2016 SAARC summit in Islamabad, Pakistan, marks a major turning point in the geopolitical configurations in South Asia. Bimstec wasn’t a term many people outside of government circles in Bangladesh, India, Myanmar, Sri Lanka, Thailand, Nepal and Bhutan were familiar till recently. Then, India, Bangladesh, Afghanistan, Bhutan and Sri Lanka decided to pull out of the SAARC Summit in Islamabad citing Pakistan’s continuing support for and export of terrorist groups as part of its state policy. [...]