NEW DELHI: Charting the path towards accelerating India’s goal of becoming a “Viksit Bharat” (Developed India) by 2047, the Indo Latin American Chamber of Commerce (ILACC) and VPVV Techno Construction Pvt. Ltd. have signed a $10 billion agreement at the Constitution Club of India.
The collaboration aims to drive large-scale investments across various sectors in India, including infrastructure, defence, industrial development, and technological advancements, ILACC said.
The agreement covers several key initiatives, such as the Industrial Corridor Development Program, Semiconductor Mission, National Logistics Policy, Production Linked Incentive (PLI) Scheme, and “Make in India” and “Made from India” projects.
President of ILACC, Raj Kumar Sharma told news agency ANI, “Today’s agreement is not just a financial commitment; it’s a strategic alignment reinforcing our dedication to India’s development goals.”
“We are incredibly proud to partner with VPVV Techno Construction Pvt. Ltd. to make substantial contributions to India’s defence and infrastructure sectors. Our joint efforts will significantly accelerate the country’s progress towards becoming a Viksit Bharat by 2047,” he added.
This agreement is expected to strengthen economic relations between India and Latin America while also serving as a platform for economic collaboration with global economies.
The participation of ambassadors and US officials at the event underscored the international community’s endorsement of India’s ambitious development objectives and its increasing global influence.
Both ILACC and VPVV Techno Construction have joined forces, united by a shared vision to contribute significantly to India’s transformation into a global economic powerhouse.
The partnership is poised to create numerous employment opportunities, drive technological advancements, and attract international investments, all of which are crucial elements in propelling India to become the world’s third-largest economy.
Chairman of VPVV Techno Construction Pvt. Ltd., Venkita Venkat said, “This partnership represents a major leap forward for both organizations. VPVV Techno Construction Pvt. Ltd. is deeply invested in India’s future, and through this agreement, we aim to support the nation’s infrastructural and defence capabilities to ensure sustainable growth. We are confident that our combined efforts will contribute significantly to making India a global leader.”
The signing ceremony was attended by minister of state Tokhan Sahu from the Ministry of Housing and Urban Affairs, along with distinguished international guests.
Among them were Lalatiana Accouche, High Commissioner of Seychelles to India; Morille Nsilu, High Commissioner of the Democratic Republic of Congo; Zakaria Traore, First Counselor of the Guinea Embassy; Sekou Conde, Economic Counselor of the Guinea Embassy; and H.E. Juan Angulo, Ambassador of Chile.

New Delhi: Mergers and acquisitions (M&A) deals in the first nine months of the year surged by 66 per cent in value terms compared to the same period in 2023, signalling a revival in deal sentiment, according to a report by Boston Consulting Group.

However, deal volumes in India saw a marginal decline of 3 per cent, though this was not as sharp as the 13 per cent decline observed in the Asia-Pacific region and globally.

In the 21st edition of the Global M&A Report, the consulting firm noted that global deal value in the first nine months of 2024 increased by 10 per cent compared to the same period last year, reaching USD 1.6 trillion.The report highlighted that M&A activity in India has been strong in 2024, bucking the trend seen in other Asia-Pacific markets. 

This performance marks a reversal of the sharp decline in deal-making that India experienced from mid-2022 through 2023.”While the global M&A market is on the road to recovery with a modest 10 per cent increase in deal value this year, India is outpacing the global trend, showcasing a remarkable 66 per cent surge in M&A activity in 2024. 

This growth contrasts sharply with the broader Asia-Pacific market, which saw a 5 per cent decline, underscoring India’s unique resilience and appeal. Key drivers of large deals have been sectors such as technology, media, industrials, and healthcare, leveraging the ‘Make in India’ initiative, India’s strengthening ties with the US and Europe, and ongoing regulatory tensions between China and the West.

“Sector-wise, technology, media, and telecommunications accounted for 40 per cent of total deal value in the first nine months of 2024. Despite cautious global sentiment, industrial companies continue to lead deal-making in India this year.Healthcare targets also remain a significant focus, primarily driven by domestic deals as companies strive to maintain their leadership positions.”

As we look ahead, the longer-term outlook for deal-making in India remains strong. Companies with healthy balance sheets will continue to seek inorganic growth opportunities, while private equity and venture capital investors will aim to deploy record-high dry powder, as India continues to be a preferred investment destination,” said Dhruv Shah, Managing Director and Partner at BCG.

The report also highlighted that increased regulatory scrutiny and protectionist measures in some countries are impacting deal-making. Globally, the time from signing to closing for deals exceeding USD 2 billion increased by 11 per cent from 2018 to 2022, reaching an average of 191 days.

BCG’s analysis found that approximately 40 per cent of deals studied failed to close within the originally projected timeline. Nearly two-thirds of these delayed deals required an additional three months or more to close. 

New Delhi: In a boost for local manufacturing, 38 companies have applied for the PLI scheme for white goods (air conditioners and LED lights) with a net committed investment of Rs 4,121 crore in the third round, the government informed on Monday.  

The third round of the online application window ended on October 12 after being open for 90 days from July 15.

According to the Ministry of Commerce and Industry, about 43 per cent of the new applicants are in the MSME sector which shows the confidence among MSMEs to become part of the value chain of manufacturing of components of ACs and LED lights.

The scheme is expected to bring in investment in the component manufacturing ecosystem of the ACs and LED lights industry to the tune of Rs 11,083 crore and generate about 80,486 direct employment.

The scheme is expected to lead to a total production of components of ACs and LEDs in India of about Rs 1,81,975 crore.

The applicants include eight existing beneficiaries of the PLI scheme for white goods (PLIWG), committing a net incremental investment of Rs 1,285 crore. Thirty new applicants have committed an investment of Rs 2,836 crore proposing to manufacture varieties of critical components of ACs and LED lights across the country.

“Manufacturing clusters are coming up at Noida-Greater Noida in UP, Neemrana and Bhiwadi in Rajasthan, Aurangabad-Pune in Maharashtra, Sanad, Gujarat and Sri City in Andhra Pradesh,” said the ministry.

Six AC manufacturers and 12 component manufacturers are in Sri City. Five additional foreign companies are investing Rs 245 crore, apart from 15 existing companies investing Rs 2,287 crore.

According to the ministry, as regards to the bifurcation between two segments of the PLIWG scheme — ACs and LED lights — 21 applicants have applied for manufacturing components of ACs with a committed investment of Rs 3,679 crore and 18 applicants for components of LED lights with a committed investment of Rs 442 crore.

Several applicants are vendors for large manufacturers such as Daikin, Voltas, Blue Star and LG Electronics in the ACs sector. Similarly, several applicants are suppliers of LED components for large LED lights manufacturers like Surya, Orient, Crompton Greaves, Signify, and Halonix etc.