#2017, #December 2017, #India & The World

The Secretary-General of the Commonwealth believes India has emerged as a natural champion to demonstrate innovation in action for the organisation.

Nothing quite prepares you for the havoc caused when the power of nature strikes with destructive force. My recent visit to the Caribbean made me very aware of the ferocity of three hurricanes in as many weeks. I was shocked by what I saw from the air as my plane flew into Dominica, the country of my birth.

#December 2017, #More from this edition

Digital India has led to a change of mindset geared towards innovation and technology.

India feels like a changed country this year. Travelling around and meeting people around Mumbai as we approach the end of 2017, I see many signs of this – from the use of mobile wallets on the toll roads, to digitalisation of systems providing provident fund management as part of employee pension schemes.

#India-US, #December 2017

From Bangladesh and Africa to Israel and China, the footprint of India spread far and wide in recent months.

Gloster plans foray into Bangladesh

Diversified jute manufacturer and exporter Gloster Limited is planning to set up a unit in Bangladesh. The new unit will be a greenfield site and cater to the export market.

#October 2017, #THE AMERICAS

A US-based academic analyses how the Indian IT industry is coping with an intensifying squeeze on HI-B visas.

In recent months, the US government has been exerting pressure to curb the H-1B visa programme for companies that rely on them and is stressing the importance behind its Hire America policies. The H-1B programme has come under severe scrutiny, much to the concern of its biggest benefactors: Indian tech companies. Indian firms, however, are trying to adapt.

#COVER FEATURE, #October 2017

S. Thangapandian, Chief Executive Officer of Essar Oil UK, takes time out for ‘India Global Business’ to explain why the company is investing heavily in its Stanlow Refinery in Britain and the story behind turning a loss-making unit into a promising asset.

What are the company’s investment plans for the UK?

Essar Oil (UK) Ltd, which owns and operates the Stanlow Refinery, will be investing further $250 million in the refinery. We have already invested over $800 million to turn around the business since we acquired the Stanlow refinery. This reaffirms the group’s commitments to stay invested in core sectors. These investments will ramp up the throughput from 68 million bpd to 75 million bpd.

Investment will also deliver enhanced yields of high value products, reduce crude costs and drive revenue growth.

#October 2017, #GLOBAL INDIAN

Dr B.R. Shetty is the Founder and Non-Executive Chairman of the Abu Dhabi based NMC Healthcare and Chairman of UAE Exchange, which most recently hit the headlines for its acquisition of forex major Travelex. The Karnataka-born and UAE-based entrepreneur opens up to ‘India Global Business’ on his journey, his inspirations and future plans.

What makes the UAE a good base for your enterprises?

In the last four decades, I have learnt so much about different cultures, made many Emirati friends and have realised that there is no place like the UAE to conduct business in.

I have got so many perspectives on life, learnt so much about world cultures that it has rounded me as a human being and a successful businessman. In the early Seventies, I came searching for a job and today, under the patronage of the royal family, I have 50,000 employees and a multi-billion-dollar empire spanning the globe.

With an open economy that has one of the world’s highest per capita income, with a sizeable annual trade surplus, the UAE has undergone an unprecedented transformation into a modern state with a high standard of living.

Some of the remarkable reasons for doing business in the UAE are: corporate tax and personal taxes are almost nil, import duties in the UAE are very low, there are Double Taxation Agreements, Free Trade Agreements and then there is a strong and competitive economy with a world-class infrastructure.

#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.

#FEATURE REGION, #October 2017

Indian Prime Minister Narendra Modi has brought about a paradigm shift in India’s quest for oil, gas, uranium by forging close relations with the five ‘Stans’ – Uzbekistan, Kyrgyzstan, Kazakhstan, Tajikistan and Turkmenistan.

The controversial and much delayed Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline is finally getting a move on – a full 22 years after it was conceived.

Following the groundbreaking ceremony last December, India will host the next meeting of the Steering Committee which has been formed for the $7.6-billion, 1,814-km-long pipeline that will transport gas from the Central Asian republic of Turkmenistan to India to feed its power plants and meet its energy security needs.