#Putting it in context, #2017, #October 2017

India’s distinct model of globalisation is pegged on its commitment to greener growth economics.

Our cover in this issue featuring Adani Group Chairman Gautam Adani cuddling a koala bear is an ode to India’s distinct globalisation and development model. While it takes inspiration from the cover story on Adani’s $16.5-billion Carmichael coal mine-railroad-and-port project in Queensland, it also seeks to encapsulate the essence of Indo-Australian relations.

India and Australia have now moved beyond the traditional three Cs that characterised the relationship in the past – cricket, curry and Commonwealth. Although these three remain important markers of bilateral ties between the two nations, the clinch has grown tighter and now includes in its remit a much wider range of issues – trade, tourism, education, geo-strategy, energy security and a lot more.

Currently, Indian investments in Australia are touching the $12-billion mark, with an increasing number of Indian companies looking at Australia as an investment destination – a sign, perhaps, of the emerging Asian century. Much like the bond of friendship and support symbolised by the proverbial cuddle, India has in its dealings practiced building mutually sympathetic relationships as opposed to the slow strangle practiced by some of its rivals in their outbound FDI strategies. The cover theme thus seeks to capture this embracing quality of India’s foreign investment strategy based on values of cooperation, mutual respect and collaboration.

But why Australia? And why now?

India is Australia’s ninth-largest source of inbound tourists, with arrivals touching 260,000 in 2016, an increase of 11.3 per cent over the previous year. The forecast is for almost 500,000 Indian tourists to visit Australia in seven years. And here’s some trivia that I’m sure can liven up many an evening: Punjabi is the fastest-growing language in Australia and Hinduism the fastest-growing religion.

Australian Prime Minister Malcolm Turnbull’s visit to India last April delivered a range of outcomes in the knowledge, trade and strategic partnership spheres. Most important, he reassured India – after flip-flops on the issue by earlier Australian regimes – about uranium supplies that are key to India’s economic, energy and strategic concerns.

Also, India is Australia’s 10th-largest trading partner and that country is the second-most popular destination for Indian students – 60,000 Indians have gone to study in Australia in 2017 (till the end of August).

Despite the growing trade, strategic and people-to-people ties, however, serious challenges exist. India’s quest for resource and energy partnerships worldwide – primarily for raw materials such as coal and strategic minerals like uranium – means that the relationship with Australia will remain hostage to lobbies such as the ones opposing the Adani Group’s Carmichael project and those that are against the spread of nuclear energy.

Australian celebrities, such as cricketers Ian and Greg Chappel, joining the chorus against India’s largest outbound FDI deal – which is key to India’s energy security – skews the pitch a little more than expected. India has consistently honoured PM Modi’s commitment to greener growth economics at home and abroad and even provided global leadership in the area with the International Solar Alliance (ISA). A fact that has been ignored within the protest narrative around the Carmichael project. I am hopeful, however, that eventually both – India’s commitment to greener growth and the potential benefits to both Australia and India – will trump the naysayers in the end.

The India-Australia bilateral relationship may teeter on the brink at times – as the potential failure of the Adani investment to materialise may portend. I am confident, however, that this relationship has now attained a level of depth, breadth and maturity.

On a broader canvas, we have placed Adani’s Carmichael project in the context of India’s worldwide hunt for resources. Indian companies are scouring the farthest corners of the earth for raw materials and energy sources to feed its hungry factories back home. In that sense, India is following in the trajectory of Europe, the US and, most recently, China.

But there is one key difference in India’s approach – and our cover theme of a “koala cuddle” tells that story quite eloquently.

Manoj Ladwa is the founder of India Inc. and chief executive of MLS Chase Group @manojladwa

#COVER FEATURE, #October 2017

Steadfast support from the public at large is likely to see Adani’s $16.1-billion mining project, India’s largest outbound FDI, through the hurdles.

There appears to be some sort of jinx revolving around projects carrying the twin labels of “largest FDI” and “India.” Remember Dabhol?

The power project by the now bankrupt US company Enron in Maharashtra was the largest inward foreign direct investment (FDI) project at the time. After several false starts, it is finally limping along as the Ratnagiri Power Company, in its latest, public sector avatar.

#October 2017, #EMERGING MARKETS

The Netherlands, Singapore and Mauritius have emerged as leading destinations for outbound Indian FDI. The attractions are benign tax laws, ease of doing business, easy access to international markets and robust regulatory frameworks.

The two top destinations for outward foreign direct investments (FDI) from India are Mauritius and Singapore. Three more tax havens – Jersey, Switzerland and British Virgin Islands – also figure in the list of Top 10 outward destinations. These jurisdictions are obviously bases from which the investments are routed to their ultimate destinations where actual physical assets and IPRs are located.

#August 2017, #Middle East

Established Indian business houses as well as start-ups are investing billions in the Middle East, especially Dubai and Abu Dhabi, to leverage the global access and ease of doing business the region offers.

There are only two certainties in life, death and taxes, goes an old saying. The bonus of living, working and doing business in most Middle Eastern countries is that taxes are either non-existent or very nominal.

#August 2017, #Sector Focus/Hospitality

Indians spend an estimated $20 billion on their travels around the world, boosting local economies and creating jobs. A WTO study says this figure will rise to $60 billion by 2020, or about the same as the total FDI inflow into India last year.

Let us start with two simple quiz questions: Which Indian group has spent the largest sum of money in the US since the turn of the millennium? And ditto for Europe?

Okay, here’s are a few hints: it’s not the Tata Group, not the Aditya Vikram Birla Group and not even any overseas Indian-owned business like Arcelor Mittal.

#August 2017, #Other Highlights

Indian companies have marked out a significant presence in the large and prosperous Nigerian market. This presence will grow further as India’s public sector oil majors are expected to invest up to $15 billion in Nigeria’s oil and gas sector.



A vast majority of Indians are not aware that Nigeria is an economic powerhouse whose citizens, on average, earn $2,123 per year, 20 per cent more than India’s per capita income of $1,850.

#April 2017, #Special Edition – May 2017, #INDIA-AFRICA, #Emerging Markets

India is a crucial partner for South Africa’s economy which offers enormous trade and investment opportunities, writes an expert from the region.

South Africa and India relations are enjoying an unprecedented renaissance, founded on shared economic interests and longstanding historical ties since the latter lifted economic sanctions against South Africa after the end of apartheid.

Both countries are major players in the global economy and share a common vision of shaping the development agenda through multilateral engagements such as the Brazil, Russia, India, China, South Africa (BRICS) and the India, Brazil, South Africa (IBSA), and other related platforms.

#April 2017, #Special Edition – May 2017, #The Americas, #THE AMERICAS

As the Donald Trump administration begins to deliver on his poll promise of cracking down on the alleged misuse of H1B visas, Indian IT companies are feeling the pinch.

Donald Trump’s election rhetoric is returning to bite the Indian IT sector as policy formulations of the new US administration.

First, here are some updates on the bad news on H1B visas, the visa category mainly used by Indian IT companies to ship Indian IT professionals to the US.

#April 2017, #Special Edition – May 2017, #The Americas, #THE AMERICAS

The chief of one of India’s leading trade bodies, the Confederation of Indian Industry (CII), traces some of the lesser known facts behind India’s positive impact on the US economy in this ‘India Global Business’ exclusive.

Over the past two decades, the bilateral partnership between India and the United States had grown in leaps and bounds. Looking back at the trajectory of the relationship, we have truly come a long way – from the cloud of suspicion that hung after India conducted its nuclear tests in the 1990s to the landmark US-India civil nuclear agreement in 2006 – which helped spur sustained engagements at the very highest levels – till today and the establishment of an array of official dialogues encompassing all aspects of our bilateral relationship.