Templeton Buys $1.2 Billion India Government Bonds

New York City‘s Franklin Templeton Investments bought about $1.2 billion of Indian government bonds in two days end March. The purchases, made through broker JPMorgan Chase & Co, were largely for tenures maturing in 2021-2023.

Since March 11, when Prime Minister Narendra Modi’s party won an election in the state of Uttar Pradesh in the north, foreign funds have been pouring into India, driving stocks to a record high and pushing up bond prices, reports Mint.

Stock chart

“The outcome of state elections, a dovish hike by the Federal Reserve and relatively attractive valuations have been the key drivers of inflows,” said Nagaraj Kulkarni, a senior rates strategist at Standard Chartered Plc in Singapore.

 

March 30, 2017   No Comments

Scientists in India Create Sensor to Detect Bacteria Quickly

Working in collaboration with the Photonics Research Center at the University of Quebec in Outaouais, scientists from the Indian Institute of Technology Kanpur, in the northern state of Uttar Pradesh, have built a sensor that can detect the presence of Escherichia coli in food and water in under 20 minutes, much faster than traditional laboratory tests.

Bacteria

Bacteriophages used in the device bond to the surface of an optical fiber, grab E.coli bacteria from a sample, and keep them attached. When a beam of light strikes the surface, the presence of E.coli shifts the wavelength in a telltale sign of bacterial contamination. An additional optical component cancels out temperature-induced shifts, reports the Economic Times. By changing the bacteriophage in the sensor, other strains of bacteria can also be detected, the scientists report.

The team members that worked on this project are Krishnendu Dandapat, Saurabh Mani Tripathi, Yasser Chinifooroshan, Wojtek J. Bock, and Predrag Mikulic.

October 22, 2016   No Comments

IT Kanpur Students Design Utilitarian Dental Chair

Setting up a dental practice for graduating dentists in India can be daunting because of the cost of equipment – particularly the chair which can cost from $1500 to $7500.

However, three students of the Indian Institute of Technology, in Kanpur in the northern state of Uttar Pradesh have come up with a solution. Amit Kundal, Mohit Tewari and Shiva Kumar M., who were part of the Design Department at the institute were picked on the basis of an interview conducted at Stanford University. Mentored by Larry Liefer, a professor of mechanical engineering at Stanford, and working with four students from Pontificia Universidad Javeriana University of Bogota, Columbia who were their external academic partners, the team designed ‘Flux‘, a dentist’s chair that is currently undergoing clinical trials. If it makes it to the market it could be available to dentists for $300!

Flux  Prototype

Flux Prototype

  • The features of Flux include:
  • Light weight
  • Occupies less space
  • An adjustable neck rest
  • Speakers for playing music
  • Movable instrument trolley that stays with the dentist

“We wanted to make sure that the primary functions of the chair were not hampered. We were focusing on an incremental innovation rather than a radical innovation so that it can be easily adopted by the users,” Amit Kundal, the leader of the team, told ScoopWhoop.

The students managed to bring down the cost considerably thanks to the use of less material, local manufacturing, and reducing the size of the big light that is used by the dentist. They’re hoping that the lower cost and size of the chair will mean that dental care will be more widely available to rural areas in the country.

February 13, 2016   No Comments

IDenta Is Supplying Detectors to India

Jerusalem, Israel-based IDenta Corporation, the international drug and explosives-detection company, has supplied detectors to India, reports Bloomberg Business.

CEO Yaacov Shoham said, “Every year before the end of the financial year (March 31 in India) IDenta Corp. participates through the local representative company Technomaxx in different tenders related to IDenta’s different products. This year IDenta is participating in 6 large tenders.

“The total number of kits for four already known tenders from the states of Hyderabad, Punjab, Uttar Pradesh and Maharashtra are:

•    Drugs detectors: 18,000
•    Explosive detectors: 9,000
•    BTK (Bullet-hole Testing Kits): 151

IDENTA For Explosives

“Many of India’s agencies have been using IDenta’s different detectors since 2008, but this year the orders are significantly larger. India’s market is a main target for IDenta in 2016. IDenta is looking to enlarge the India penetration, including the unique IDenta Sniffer.”

January 17, 2016   No Comments

Ikea to Operate 25 Stores in India

The Swedish home furnishings company IKEA has announced a long term plan to open 25 stores in the country at a cost of $80 million per store. In July this year the company bought land in Hyderabad in south India for its maiden store.

Business Standard reports that IKEA has signed a memorandum of understanding with various state governments in India: Andhra Pradesh, Telangana, Karnataka, Uttar Pradesh, and Maharashtra for its stores to be located in these states.

IKEA in India

“Our priority is to find the right locations for our stores, to increase our supplier base, and establish long-term relations with the authorities and other important partners. In the first phase we are looking at establishing IKEA stores in Delhi-NCR, Mumbai, Bengaluru and Hyderabad,” a company spokesperson told Business Standard in reply to an emailed questionnaire.

October 12, 2015   No Comments