Thu, Jun 29, 2017 | updated 06:05 AM IST

More than 75 pct of Norwegian companies find India a favourable destination

Updated: Dec 02, 2016 08:08 IST      
More than 75 pct of Norwegian companies find India a favourable destination

New Delhi [India], Dec.2 (ANI): The Norwegian Business Association India (NBAI) and Norwegian Consulate General, Mumbai in collaboration with the Commercial section of Norwegian Embassy, Delhi on Thursday undertook a Business Climate survey to assess the current and near future business climate for Norwegian companies with specific focus on the maritime sector.

The survey was launched in Delhi by Norwegian envoy to India Nils Ragnar Kamsvag.

India has been described as the "only bright spot" on the global economic scenario and has emerged as one of the fastest growing economies in the world today.

Norwegian companies have been present in India for long, covering areas like maritime, oil and gas, fisheries and aquaculture, ICT, health and renewable, among many others.

The recent policy initiatives by the government have generated a lot of interest on Norwegian side and there is an urge to know more about the developments in India.

As India continues to be one of the countries attracting the largest foreign direct investments, Team Norway in India initiated the first Business Climate Survey for Norwegian business community operating in India.

"Norway is a substantial investor in India. Investments from the Norwegian Global Pension Fund and Norwegian companies amount to USD 13-14 billion. As the survey has revealed, 62 percent Norwegian companies consider the present business climate in India favourable and 75 percent consider that it will be even more favourable in the coming three years," Ambassador Kamsvag said.

"We appreciate the efforts being made by the Indian government to make the investment environment more open and easy to work in. There is clear willingness in both Norway and India to do more business together," he added.

The idea of the survey was to understand the profile of Norwegian companies present in India, areas in which they operate and their experience of working here.

It was also important to know how the policies and projects have affected the sentiment of Norwegian business community about India.

The maritime sector being the most important for Norway in India, the survey has a dedicated report about different aspects of this sector, including inland waterways, coastal shipping, ship design and building, sustainable shipping etc.

It also looks into the opportunities that Norwegian companies see for themselves in India and the timeframe for the same.

Chairman of NBAI Richard Chapman also said that the purpose of the survey was to gather opinions on the state of the economy and optimism for business today and in the future.

"This snapshot will allow us to understand where the stresses or hope lies within operations in India and use this critical information to discuss business needs with the India and Norwegian government," he said.

"We are glad to announce that the survey captures inputs from 90 Norwegian companies established in India with specific insight from the Maritime sector receiving an impressive response rate of 83 percent," he added.

The majority of the Norwegian companies are established in Maharashtra, Delhi NCR, U.P. and Karnataka out of which 10% percent are stationed with their headquarters in the national capital.

Biggest Norwegian companies which are present in India are Telenor, Statkraft, DNB, Aker Solutions, Jotun, MTR FOODS, Evry India, Kongsberg, DNV GL and many more.

And the largest Indian companies which are operating in Norway are HLC Technologies, Infosys, Tata Consultancy Services, and Tech Mahindra's IT branch. (ANI)

fiscal autonomy Srinagar [India], June. 28 (ANI): Jammu and Kashmir Minister of Finance Haseeb A Drabu today said the state government will factor in constitutional, legislative, administrative and institutional issues distinct to the state, while implementing the Goods and Services Tax (GST) Bill in the State.

Full Story >>

New Delhi [India], June 28 (ANI): Finance Minister Arun Jaitley on Wednesday said that all decisions in connection with the Goods and Services Tax (GST) Bill were taken after building consensus with states and political parties.

Full Story >>

New Delhi [India], June 28 (ANI): Airbnb democratizes tourism by bringing its economic benefits to communities that typically haven't shared in these benefits in the past.

Full Story >>

New Delhi [India], June 28 (ANI): World's largest player for South-Asian content, YuppTV on Wednesday announced its partnership with Fox Star Studios, one amongst the leading production houses of today.

Full Story >>

New Delhi [India], June 28 (ANI-NewsVoir): WittyFeed, World's second largest and India's largest content marketing company has rebranded itself and launched a new user interface. The brand also relaunched its logo, tagline and its look and feel keeping the new vision and brand philosophy in mind.

Full Story >>

New Delhi [India], June 28 (ANI-NewsVoir): SBI Mutual Fund, the fifth largest (by AAUMs) asset management company in the country would be the first Indian Mutual Fund Company to complete 30 years of successful operations on Thursday, June 29, 2017. SBI Mutual Fund was the first bank sponsored Mutual Fund to have been registered under SEBI.

Full Story >>

FreeCharge crosses 500 mn transactions

Updated: Jun 28, 2017 16:52 IST     

New Delhi [India], June 28 (ANI-BusinessWireIndia): Amidst increasing digital payments preference and awareness amongst consumers, FreeCharge today announced that the number of transactions on its platform has crossed 500 million, with the value of these transactions exceeding USD 1.2 billion.

Full Story >>

Marico appoints Ananth Narayanan to its Board of Directors

Updated: Jun 28, 2017 16:31 IST     

New Delhi [India], June 28 (ANI): India's leading Consumer Products Group Marico on Wednesday announced appointment of Ananth Narayanan on its Board of Directors as an Additional (Independent) Director.

Full Story >>

Fin Min setups special cell for smooth GST roll-out

Updated: Jun 28, 2017 16:29 IST     

New Delhi [India], June 28 (ANI): To brace the successful roll out of the Goods and Services Tax (GST), the Finance Ministry on Wednesday setup a special cell in the North Block dedicated entirely for the uniform indirect tax system, which will subsu

Full Story >>

New Delhi [India], June 28 (ANI): India's leading e-commerce giant, Amazon.in today announced the setting up of 16 'GST Cafes' across 11 cities to help sellers understand the nuances of GST and transition seamlessly through the entire process. In line with Amazon.in's continuous efforts to enable its sellers be GST-compliant, these cafes, available from June 26th, 2017 will be available for a duration of two weeks to train and empower sellers on the implications of the new GST tax.

Full Story >>

New Delhi [India], June 28 (ANI-NewsVoir): Aeries Financial Technologies Pvt. Ltd., a fin-tech company promoted by serial entrepreneur and private equity investor V. Raman Kumar, today announced that CASHe, India's fastest growing loan giving app for young salaried professionals has reached a phenomenal milestone of disbursing loans worth Rs. 100 crore to over 25,000 of its loyal customers.

Full Story >>

New Delhi [India], June 28 (ANI): SAIC Motor Corporation Ltd. on Wednesday announced its plan to enter the Indian automobile market through a fully-owned car manufacturing facility in the country.

Full Story >>

New Delhi [India], June 28 (ANI): Macmillan Education, one of the world's leading publishers of English Language teaching and school curriculum materials, has today launched the ICAS programme for the Indian subcontinent. Currently 14,500 schools in over 20 countries participate in ICAS and over 8.9 million students are being assessed under ICAS globally.

Full Story >>

New Delhi [India], June 28 (ANI): As businesses across the country gear up for the GST (Goods and Services Tax) rollout on July 1, ClearTax, India's largest income tax returns e-filing and enterprise compliance service provider, is gearing up to release its GST e-learning course in 20 regional languages including Kannada, Telugu, Tamil, Marathi, Gujarati, Bengali, etc.

Full Story >>

New Delhi [India], June 28 (ANI-NewsVoir): In an endeavor to ease out the immediate fund requirements of entrepreneurs, who are starved of institutional credit, Cash Suvidha is increasingly becoming a popular platform for hassle free unsecured loans.

Full Story >>

New Delhi [India], June 28 (ANI): Rajasthan's fastest growing NBFC licensed by RBI, Finova Capital has announced on-boarding Rahul Sahney and Anurag Agrawal as Chief Operation Officer and head of Credit and Operations at Finova Capital.

Full Story >>

New Delhi [India], June 28 (ANI): Always ahead of the innovation curve, Rubique has yet again demonstrated its focus on making financial solutions accessible to as many users as possible. The one-stop online marketplace providing technology enabled end-to-end solutions to financing needs of individuals and SMEs has just localised its Rubique Associate app.

Full Story >>

New Delhi [India], June 28 (ANI-NewsVoir): HDFC ERGO General Insurance Company, India's third largest non-life insurance provider in the private sector and Utkarsh Small Finance Bank on Tuesday signed a corporate agency agreement for the distribution of general insurance products through the bank's network of branches across the country.

Full Story >>

Tapp Me's on demand service model in expansion mode

Updated: Jun 27, 2017 18:44 IST     

New Delhi [India], June 27 (ANI-Newsvoir): Tapp Me, a Gurugram-based start-up offering hassle-free day-to-day repair and maintenance services for homes and offices, has taken an initiative of creating job opportunities for local technicians in the emerging smart cities of India. After an extensive market research, a model has been developed providing these local technicians regular earnings by working on a profit sharing basis with Tapp Me.

Full Story >>

i2iFunding emerges as first P2P lending player

Updated: Jun 27, 2017 18:38 IST     

New Delhi [India], June 27 (ANI-Newsvoir): The Indian P2P lending industry is in the nascent stage of development.

Full Story >>