Westinghouse Nuclear Project in India Still Alive

The bankruptcy filing at  Westinghouse Nuclear threatened to scuttle the multi-billion-dollar reactor deal made by former U.S. President Barack Obama and India’s Prime Minister Modi during the Washington summit last June, , Westinghouse CEO Jose Gutierrez was in India for talks with state-run National Power Corp of India Ltd and the Department of Atomic Energy that reports to Prime Minister Narendra Modi.

India’s Larsen & Toubro, a potential partner that has signed a memorandum of understanding with Westinghouse to supply nuclear plant elements and do civil works, still views the India project as viable.”As long as the guarantees are in place, I see no reason why this won’t go ahead,” Shailendra Roy, head of L&T’s power business, told Reuters,.

Westinghouse Electric Company

The Export-Import Bank of the U.S. however, has lacked a quorum on its board of directors, preventing it from issuing loans over $10 million, and this may also slow down the financing of any deal.

 

March 21, 2017   No Comments

Global Automakers Seek Partnerships and Mergers in India

Germany’s Volkswagen and India’s Tata Motors signed a memorandum of understanding to develop components, and possibly new vehicles. Volkswagen’s Skoda Auto AS will join the project on behalf of the German automobile group. Volkswagen CEO Matthias Mueller said the partnership would help it “achieve sustainable and profitable growth in very different parts of the world.”

Toyota is in talks to form a business partnership with Japan’s Suzuki, in areas such as green vehicles, safety and information technologies, and mutual supply of products and components. Toyota President Akio Toyoda and Suzuki chairman Osamu Suzuki met with Prime Minister Modi. According to a statement from the prime minister’s office, the executives discussed manufacturing opportunities in India, and the possibility of exporting cars from the country, reports CNN Money.

a hand shake

 Toyota has taken full ownership of small car specialist Daihatsu Motor Co., and the latter’s products are expected to be introduced in India in 2019.

March 14, 2017   No Comments

India Participates in Hyperloop One’s Global Challenge

Los Angeles-based Hyperloop One‘s chief executive officer Rob Lloyd, senior vice-president global field operations Nick Earle, and executive chairman and co-founder Shervin Pishevar were in New Delhi end February to showcase their ‘Vision for India’ to mark their official launch in the country.

Hyperloop One in India

The event convened India’s five semifinalist teams from the Hyperloop One Global Challenge, along with a roster of government officials, media, urbanists, and transportation specialists. The teams shortlisted from more than 100 applications, were AECOM, LUX Hyperloop Network, Dinclix GroundWorks, Hyperloop India and Infi-Alpha. Each put forward a comprehensive and commercially viable transport plan covering economic and policy aspects of their respective cities and regions, reports Mint.

Shervin Pishevar, executive chairman of Hyperloop said, ‘India is an extremely important geography for developing Hyperloop networks and re-imagining how cities and regions work. Prime Minister Narendra Modi’s vision for transforming India and the role he sees for technology in driving this change is indeed remarkable,’ he added.

 

March 3, 2017   No Comments

Apple Discussing with Government on Manufacturing in India

Apple Inc., has written a letter to the federal government in India outlining its plans to seek financial incentives in an effort to gain market share in the country where 97% of all smartphones run Android, reports Buzzfeed.

Earlier in June, the government allowed single-brand retailers like Apple to open stores in the country with the caveat that they procure at least 30% of their raw materials from India after the first three years.

apple-ipad_1

Prime minister, Narendra Modi, has been trying to ramp up manufacturing in the country through the “Make In India” initiative, and smartphone makers such as Samsung, Xiaomi, and OnePlus already assemble their phones in India to keep prices down.

With 50 million of the country’s 1.2 billion people owning a smartphone, India’s market is not saturated, yet, and is an attractive market for Apple to see significant growth.

 

December 20, 2016   No Comments

Ash Carter: U.S. and India Destined to be Strategic Partners

CNN Politics reports that outgoing U.S. Defense Secretary Ash Carter was in Delhi in the second week of December in a last bid to boost relations with an ally that could prove crucial to U.S.-India defense relations.

En route to New Delhi, Carter told reporters, “India and the United States are destined to be strategic partners.” The relationship has “grown by leaps and bounds” since 2008, Carter said, adding that he intended to discuss with his counterpart a “major change” that is “very close to the finish line” regarding the easing of regulations on defense exports to India, reported CNN.
US and India Flags
Carter highlighted Prime Minister Narendra Modi‘s “Act East Policy,” a diplomatic initiative aimed at boosting India’s presence and relationships in East and Southeast Asia. Some analysts in Washington and New Delhi see the two large democracies as natural allies, and Adm. Harry Harris, commander of U.S. forces in the Pacific, told Congress in February, “As the world’s two largest democracies, we are uniquely poised to help bring greater security and prosperity to the entire region.”
“We’ve made significant progress on the defense side with India,” a U.S. defense official said. U.S. arms exports to India were 11 times higher in 2010-2015 than 2006-2010, according to the Stockholm International Peace Research Institute, an independent resource on global security.

December 14, 2016   No Comments