21 start-ups from India take innovations to Africa
The Dollar Business Bureau The Federation of Indian Chambers of Commerce and Industry (FICCI) and Government of India’s Technology Development Board (TDB) took a delegation of twenty-one start-ups to Nairobi, Kenya to showcase their innovations at the business enclave that was addressed by the Prime Minister of India Narendra Modi and the President of Kenya Uhuru Kenyatta on Monday. FICCI and TDB plans to begin a programme called African Development through Indian Technology and Innovation (ADITI) under the slogan 'India shares because it cares'. This has been envisaged by the Prime Minister of India and over 40 heads of African states during the India Africa Forum Summit III (IAFS III) happened at New Delhi in the month of October 2015. The technologies and innovations ...
India to lend Kenya $45 mn for industrial development
The Dollar Business Bureau India to provide $45 million Line of Credit to Kenya to help in developing a textile unit and other small industries, the leaders of two nations said on Monday. Prime Minister Narendra Modi and Kenyan President Uhuru Kenyatta have signed seven trade agreements. The two agreements, part of the seven deals signed, were a Line of Credit pact for $15 million to Kenya’s Industrial Development Bank Ltd (IDB) for the development of small scale and medium enterprises (SMEs) and an agreement of Line of Credit for $29.95 million to revive the Rift Valley Textiles (Rivatex) factory in Kenya. “The ties between the two countries are rich and long-standing. The multi-faceted partnership for development is a major pillar of our bilateral ties. ...
Reliance to sell its entire share in GAPCO to Total
The Dollar Business Bureau Reliance Industries Ltd’s (RIL) indirectly fully-owned arm, Reliance Exploration & Production DMCC (REPDMCC), has signed an agreement to sell its entire interest of 76 percent in the Mauritius-incorporated GAPCO to Total Marketing and Services. REPDMCC has signed agreement with Total on May 30, 2016 for the sale of its entire 76 percent interest held by it in the GAPCO (Gulf Africa Petroleum Corporation), RIL said in a BSE filing on Tuesday. The proposed deal is subjected to approvals from regulatory bodies and other conditions that are applicable for such transactions, it added. GAPCO, a holding company, has operating arms in Kenya, Tanzania and Uganda, which are majorly involved in the imports of petroleum products. The company is also ...
Localisation is the secret behind the success of global brands: Nestle Exports
Neha Dewan | @TheDollarBiz Companies that plan to go global at times overlook the need to localise their products, and this often leads to failure, revealed Rakesh Sharma, Head of Exports, Nestle India, at a knowledge symposium on “Emerging Opportunities and Risk Management in Global Business” organised by the Federation of Indian Export Organisations (FIEO) and Jagan Institute of Management Studies (JIMS) in New Delhi last week. Speaking at the forum, Sharma said that identifying a consumer segment that resonates with the company’s core strength is an important factor for the success of a brand in emerging markets. However, localisation is the key. “One must develop products that are suitable for the local market. Localisation is critical to access. Failure ...
