Indo-Russian JVs to build automobiles and aircraft
The Dollar Business Bureau India and Russia have agreed to set up JVs to build aircrafts and automobiles in order to boost the lagging trade and economic ties between the two countries. The Russian President’s positive announcement after the summit concluded at St.Petersburg, summed up the positive developments and growth trajectory that PM Modi’s talks could have had. Putin said, "We both have a stake in consolidating this positive trend. Our talks are always held in a warm and friendly atmosphere, and are always substantive and productive. This time was no exception." Putin said the agreements made in the St Petersburg Declaration outlines steps to further deepen bilateral cooperation in the political, economic and cultural spheres. "Encouraging the growth ...
Indian Insurance sector to have Rs.12,000 cr FDI in 2016
The Dollar Business Bureau India’s insurance sector is likely to receive Foreign Direct Investment (FDI) worth up to Rs.12, 000 crore during this year with a dozen of multinational companies planning to invest in joint ventures, said Associated Chamber of Commerce and Industry (ASSOCHAM). According to the study, the passage of the Insurance Laws (Amendment) Bill in March 2015 has encouraged many foreign investors to pump in funds in their Indian joint ventures and raises their equities. With the liberalisation of foreign investment cap to 49% from 26%, several insurance giants like AXA of France, Bupa of the UK, Nippon Life Insurance of Japan, announced raising of their stakes in their respective joint ventures and a dozen more including BNP Paribas Cardif, Standard Life ...
