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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102631) | |
22091. India's key Central European partner Poland keen to increase two-way investments in post-Covid scenario
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
Poland
The Economic Times
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- Central Europe’s biggest nation and India’s traditional partner in the region is keen to invest in India and simultaneously keen to expand basket of Indian investments in the country. India is the primary location in Asia for Polish investors (currently 270 mln USD).
- Increasing two-way investments was one of key issues discussed at the Indo-Polish Foreign Office Consultations held last week through a virtual meet. Poland has also proposed cooperation with India on research and innovation. It may be recalled that the Polish Investment and Trade Agency opened a new Foreign Trade Office in Mumbai in 2018.
- Poland is India’s largest trade partner and export destination in the Central European region, with bilateral trade growing almost seven-fold over the last ten years. As per Indian statistics, the overall value of bilateral trade in 2018 was $ 2.351 billion. India and Poland signed a Memorandum of Understanding last year to enhance bilateral cooperation in the coal and mining sector.
22092. People's Bank of China buys into ICICI Bank amid 'Boycott China' movement
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Business Today
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- The People's Bank of China has now made an investment in ICICI Bank. The Chinese bank has emerged as one of the investors in ICICI Bank's Rs 15,000 crore capital raising exercise which ended last week.
- The Chinese bank signed a cheque of Rs 15 crore in the private bank under the qualified institutional placement.
- People's Bank of China was amongst the 357 institutional investors which included domestic mutual funds, insurance companies and global institutions that subscribed to the issue. The prominent investors among them were Government of Singapore, Morgan Investment and Societe Generale.
22093. [Funding alert] DrinkPrime raises Rs 21 Cr from Sequoia Surge, Omidyar Network India
Make in India / Atmanirbhar
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Investment in Bharat by Bhartiya companies
English
India
Your Story
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- Water purifier startup DrinkPrime on announced that it had raised Rs 21 crore ($3 million) in its pre-Series A round. The round was led by Omidyar Network India, with participation from Sequoia Surge The Bengaluru-based startup will use the freshly raised funds to strengthen its team and invest in growth plans.
- The startup has created smart water purifiers by leveraging Internet of Things (IoT) technology and a seven-stage filtration process. It allows users to subscribe to use the company's advanced modular water purifiers, with a pay-as-you-use model.
- DrinkPrime is also backed by founders of Snapdeal, Kunal Bahl and Rohit Bansal, GrowthStory's founders Meena and Krishnan Ganesh, and Bounce, among others.
22094. Lightspeed India raises $275M, will focus on startups of the future
Make in India / Atmanirbhar
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Investment in Bharat by Bhartiya companies
English
India
Your Story
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- Lightspeed India Partners has closed the Lightspeed India Partners III fund with $275 million of committed capital. As a fund, it has invested more than $750 million in India and supports startups through the growth stages.
- It will continue to focus on early stages of innovation, and work with founders to support them through their growth lifecycle – working with a growth capital pool of over $3 billion raised recently in its global funds.
- Lightspeed India Partners closes Lightspeed India Partners III fund with $275 million. It will focus on early stages of innovation, and support founders through their growth lifecycle.
22095. P-notes investment continues to soar, climbs to over Rs 63,000 crore till Jul-end
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
The Economic Times
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- Investments through participatory notes (P-notes) in the domestic capital market soared to Rs 63,288 crore till July-end, making it the fourth consecutive monthly rise.
- P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly.
- Prior to that, investment level was at Rs 60,027 crore and Rs 57,100 crore at the end of May and April, respectively.Of the total Rs 63,288 crore invested through the route till July, Rs 52,356 crore was invested in equities, Rs 10,429 crore in debt, Rs 250 crore in the hybrid securities and Rs 190 crore in derivatives segment.
22096. Wistron commences assembling of Apple iPhone SE 2 in Kolar
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
Karnataka
Deccanherald
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- Apple's long-time supply partner Wistron has started assembling the company's latest iPhone SE model in Kolar, Karnataka
- Previously, Wistron has been producing iPhone 7, iPhone 6S, and before that the first generation iPhone SE since 2017 at the company's Peenya plant, in the western industrial hub of India's Silicon Valley.
- It can also be noted that Wistron has already hired 1,000 people at its Narsapura plant. Another 9,000 are expected to join the workforce in the coming weeks
22097. [Funding alert] EVage raises investment from Ola Electric co-founder, others
Make in India / Atmanirbhar
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Investment in Bharat by Bhartiya companies
English
India
Your Story
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- EVage, an electric vehicles (EV) and mobility tech startup, has raised an undisclosed amount of funding led by Ola Electric Co-founder and Senior Advisor Anand Shah. The other participants in this funding round include BryAir Director Varun Pahwa, and DMI Group partner Anmol Nayyar, according to a statement.
- EVage is set to launch their first electric delivery van, which the startup says is a completely 'made in India' structure. The funds raised will be used to build vehicles and deliver the initial orders.
- EVage is based out of Chandigarh and has been actively designing and manufacturing exoskeleton structure, and a purpose-built EV platform for commercial vehicles.
22098. Schneider Electric launches 'Made In India' anti-bacterial and self-disinfecting switches, sockets
Make in India / Atmanirbhar
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Investment in Bharat by Bhartiya companies
English
India
India Tv
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- Schneider Electric, the leader in the digital transformation of energy management and automation, today announced the launch of its anti-bacterial and self-disinfecting switches and sockets under its Livia product range.
- Powered by the Silver Ion technology which can kill over 99.9% bacteria and fungi, these products have been conceptualised and manufactured in India as a part of Schneider Electric’s commitments towards ‘Make in India’ aimed at making an AtmanirbharBharat
- Strengthening its commitment towards contributing to the growth of Atmanirbhar Bharat, Schneider Electric has made this product range available in the Indian market at the existing price of the Livia range and shall not be charging any premium.
22099. This startup founded by an IIT Kharagpur alumnus provides dunzo-like service to senior citizens
Make in India / Atmanirbhar
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Investment in Bharat by Bhartiya companies
English
India
Your Story
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- EvrCare is an AI-based hyperlocal support system through which one can take care of the assistance, companionship, and wellness needs of senior citizens from any part of the world. EvrCare is an artificial intelligence (AI)-based hyperlocal support system through which one can take care of the assistance, companionship, and wellness needs of senior citizens from any part of the world.
- The company is headquartered in Singapore and launched in India this year. It offers a myriad of services for parents and senior citizens in Bengaluru, Delhi, Mumbai, Chennai, Hyderabad, and Calcutta. Also, it has virtual plans for senior citizens across India.
- Currently the average transaction value of the platform is at Rs 300 for essential deliveries and Rs 3,000 for subscription-based consumers. The average margin per transaction is 50 percent and the total registered service providers are 500. The team claims to have seen a 2x month-on-month growth until now.
22100. Flipkart’s Vocal for Local move: To promote Assam’s handloom, handicraft as PM pushes for Make in India
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Financial Express
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- Flipkart has inked an agreement with the Assam government to promote the state’s local artefacts and handloom products on its e-commerce marketplace as the government continues to push for Make in India and supporting domestic manufacturing.
- Flipkart, which runs Samarth to promote handicraft and Indian handloom products, will help Assam’s local artisans to showcase their hallmark products to millions of customers across the country.
- Under its Samarth program, Flipkart said that it is supporting the livelihood of more than 6,00,000 artisans, weavers and micro-enterprises across India.