BUSINESS
India to borrow $1.077 bn
India is set to borrow $1.077 billion. It
needs 13 percent more than what it had
estimated for 2011-22. This is unlikely to
increase the fiscal deficit. the week that was
Singur land deal: Mamata
wins, Tata loses
The Calcutta high court upheld as valid
the act by which the West Bengal govern-
ment took back the Singur land leased to
Tata Motors Ltd. A factory will be set up
on 600 acres of land, while the remaining
400 acres will be returned to the farmers
who had not accepted compensation for
the acquisition made by the Left Front
government in 2006, said Chief Minister
Mamata Banerjee.
Totalization agreement would enable
Indian professionals working in the US to
benefit from their contributions to the
Social Security programs even if they
return to India after working for fewer
than 10 years in the US, the case for several Indians who come to the US on H1-B
visas.
India mulls scheme to
support overseas workers
Anil Ambani may set up
Reliance bank soon
Tycoon Anil Ambani says his company
Reliance Capital would explore opportuni-
ties to enter the banking sector. ‘Our strat-
egy is now to unlock value from all our
major businesses for the benefit of our 1.3
million shareholders,’ he said.
move which will help Indian exporters.
Under the Generalised System of
Preferences, certain Indian handicraft
items and engineering products were
allowed duty-free access to the US to the
tune of $3.5 billion in 2010.
GE to invest $200 million
General Electric will invest $200 million
to build an integrated multi-product manufacturing facility in Pune, Maharashtra.
The facility will create 2,000 jobs.
India-targeted M&A deals
worth $39 billion
The value of India-focused merger and
acquisition deals touched $39 billion in
the first nine months of this year. This is a
31 percent decline vis-à-vis the correspon-
ding period last year.
last week, India and China reached an
understanding to deepen bilateral investment cooperation, further open up markets to each other and improve the investment environment. India’s Planning
Commission Deputy Chairman Montek
Singh Ahluwalia urged China to open its
markets to Indian information technology
and pharmaceutical products to bring
about balance in bilateral trade.
India-Pakistan trade
negotiation falls flat
After months of hullabaloo, the much-
ambitious trade talks between India and
Pakistan fell flat when the commerce min-
isters from both countries met in New
Delhi to iron out some long-standing irri-
tants. There was no talk at all from
Pakistan to grant the most-favored nation
status to India or trimming its negative list
of items even as both sides decided to dou-
ble bilateral trade to $6 billion by 2014.
US may revive trade
benefits to India
Congress is likely to approve trade pref-
erences for the least developed and devel-
oping countries in the next few weeks, a
India, China to deepen
bilateral investment
Big gaps in US-India
trade positions
The United States has ruled out signing
a Totalization Agreement with India,
Polaris to launch low-speed
electric vehicles in India
Holding their first comprehensive
Strategic Economic Dialogue in Beijing
because it is permitted to enter into these
agreements only with countries that meet
certain statutory conditions, which India
doesn’t, US Trade Representative Ron
Kirk told the Business Standard. A
‘This decade will be transformational for India’
;Page A39
Dr Sanjaya Kumar, the author of Fatal Care and coauthor of Our Broken Healthcare System
Tell us more about these start-ups you are
mentoring.
The first one is Xstor Systems, Inc, which
focuses on providing robust end-to-end
data storage management solutions. Xstor
focuses on medical disciplines with huge
storage demands like digital pathology and
radiation oncology. The company is partnering with Varian Medical Systems and
Digital Pathology Scanner vendors.
The second company provides easy-to-use
solutions to health care organizations for
policy and document management for
enterprise wide governance, risk management and corporate compliance. This company is looking to increase its product footprint to add more capabilities to service its
clientele more holistically. Partners for this
company include hospital associations, professional organizations, payers and standards setting organizations.
I am looking into next generation technology platforms to enable remote patient care
monitoring and provisioning.
Tell us about your work with Indian hospi-
tals.
I visited Dr Pratap Reddy (founder, Apollo
Hospitals) in 2009 and was very impressed
with his vision and accomplishments. They
are a progressive group, defining a path for
others to follow. Apollo stands to benefit
from an early start in shaping health care in
India. I have also had the pleasure of working with Max Healthcare. Max has impressive leadership that is shaping the organization to provide for more as a system.
Is the Indian health care system, which
works on pay-per service, better or is it the
American system?
Both have pros and cons, and it is very dif-
ficult to change either. Culturally, we have
the system in India well established and
accepted. In the US, we use payers. None
are cheap today. Health care costs will con-
tinue to escalate till we learn to contain and
control runaway cost of chronic diseases.
