India-Peru Trade Talks: The Next Chapter Set to Unfold on February 12
Introduction India and Peru are set to resume their negotiations for a free trade agreement (FTA) that aims to promote bilateral trade and investment between the two countries. The FTA negotiations started in 2017 and the fifth round was concluded in August 2019. However, the talks were paused due to the coronavirus pandemic. The sixth […]
HDFC Bank Targets Singapore Market: The Journey Begins with a Banking License Application
HDFC Bank, India’s largest private sector lender, has applied for a banking license in Singapore, signaling its overseas ambitions after a landmark merger with Housing Development Finance Corp. last year. The bank is awaiting approval from the Monetary Authority of Singapore (MAS), the country’s central bank and financial regulator. Why Singapore? Singapore is one of […]
Sun Pharmaceutical Industries Expands Reach: Acquisition of Remaining Stake in Israel’s Taro
Sun Pharmaceutical Industries, India’s largest drugmaker, announced on Thursday that it will acquire the remaining 21.52% stake in Israel-based Taro Pharmaceutical Industries for ₹2,891.7 crore ($43 per share). This move will enable the merger of the two entities and consolidate Sun Pharma’s control over Taro, a key player in the generic dermatology market. Background Sun […]
Commerce Ministry Set to Launch Information Portal for Prospective Exporters
The Commerce Ministry of India is planning to launch an online platform in the next two to three months to provide all relevant information, including details about custom duties, for aspiring exporters. The portal, named ‘Trade Connect ePlatform’, will act as a one-stop place for getting all information on engaging in export activities. Benefits of […]
HCL Group and Foxconn Join Forces to Establish Chip Packaging Unit in India
Introduction In a major boost to India’s semiconductor industry, HCL Group and Foxconn have announced a partnership to set up an outsourced assembly and testing unit (OSAT) for semiconductor chips in the country. The joint venture will leverage the engineering and manufacturing expertise of both the companies and create an ecosystem for the domestic chip […]
Google Pay and NPCI Collaborate to Take UPI Payments Global
Google India Digital Services and NPCI International Payments Ltd (NIPL), a subsidiary of the National Payments Corporation of India (NPCI), have signed a Memorandum of Understanding (MoU) to expand the reach of the Unified Payments Interface (UPI) beyond India’s borders. The collaboration aims to simplify cross-border transactions, remittances and digital payments for Indian travelers and […]
Reducing Import Costs: India Secures Lithium Blocks in Argentina, Aims to Save ₹24,000 Crore
India has taken a major step towards securing its lithium supply chain by signing an agreement with Argentina’s state-owned mining and energy company to explore and develop five lithium blocks in the Catamarca region. The deal, which is the first-ever lithium exploration project initiated by India, is expected to save the country ₹24,000 crore in […]
Breaking Records: REC Limited’s 61.1 Billion Yen Green Bonds Lead India’s Green Revolution
REC Limited, a leading government-owned infrastructure finance company in India, has made a significant foray into the international green finance market by successfully issuing its inaugural Yen Denominated Green Bonds. The issuance, totaling 61.1 Billion Japanese Yen (approximately 555 million USD), marks a milestone in REC’s commitment to sustainability and renewable energy initiatives. Green Bonds […]
India and Singapore Connect Through NPCI’s UPI-PayNow Linkage
Revolutionizing Cross-Border Transactions India and Singapore have taken a significant leap in financial technology by integrating their digital payment systems, UPI (Unified Payments Interface) and PayNow. This integration marks a major milestone in the evolution of international financial transactions, paving the way for a more connected global economy. The UPI-PayNow Linkage: A Game-Changer The linkage […]
Expanding Horizons: IIT Madras to Open a New Campus in Kandy, Sri Lanka
In a landmark move, the Indian Institute of Technology (IIT) Madras has announced its plans to open a new campus in Kandy, Sri Lanka. This is the second overseas campus of the premier engineering institute, after Tanzania, and a testament to the growing educational ties between India and Sri Lanka. Why Kandy? Kandy is a […]