Venture capital investment in India reaches a record $928m in 2007
27/02/2008. Annual venture capital investment in India skyrocketed 166 per cent in 2007, according to Dow Jones VentureSource. Consumer/business services and web-related companies accounted for more than half of all deals.

The Indian Stock Market – Continued Boom or Impending Bust?
06/02/2008. During 2005, India’s economy grew by 9% and reached US$ 800 billion, and during 2006, it grew by another 9.2% to reach US$ 910 billion (in nominal terms). At the same time, during the last 16 years, i.e., 1991–2006, annual inflation—as measured by the average Wholesale Price Index (WPI)—has been approximately 6.7%, and given the savings rate and liquidity in the system, our analysis shows that the annual inflation in the country will likely to hover around 5% during the next 14 years (i.e., until 2020). So, assuming a constant exchange rate where one US Dollar equals 40 Indian Rupees,1 India’s economy is likely to be US$ 1,030 billion in 2007, US$ 1,490 billion in 2010, and around US$ 5,040 billion in 2020 (all in nominal terms). This implies that including inflation, there will be approximately a five-fold increase in India’s economy between 2007 and 2020.

Evalueserve's 'An Indispensable Guide to Equity Investment in India'
17/10/2007. Over the past several years, investors have earned massive profits in the Indian market. However, beyond the tech-heavy activity that has driven much of these profits, there are many new and interesting areas that private equity and venture capital firms are now aggressively looking to take advantage of, Evalueserve research found.

Market for Funds Investors
05/09/2007. Funds of varied sizes have been established in India Aside from China, India has to be the next most vibrant market for limited partners seeking to invest in promising fund management firms. In the first half of 2006, eight fund management firms’ fund raising efforts added an additional US$1.12 billion to the market.

A tale of two sectors: what can Indian telecom firms teach the power industry about reforms?
06/06/2007. The casual visitor to India, says Knowledge Wharton, might find it hard to believe that it houses one of the world's hottest economies - one increasingly mentioned in the same breath as China's. In India, shabby airports, potholed roads and clogged ports remain the norm, and major cities suffer regular brownouts, especially during the summer when demand for electricity surges. The government estimates that India will need to spend $150bn over the next seven to eight years to bring its infrastructure up to par.

Manufacturing in India: opportunities, challenges, and myths
16/05/2007. India represents an economic opportunity on a massive scale, says KPMG. China and India are likely to be the world’s two biggest economies by mid-century, and although India has underperformed in the first lap of the growth race, there was a strong possibility that India may well move ahead. Although India is still seen by industrial investors as an economy where risk is higher and the business environment more problematic than in rival Asian investment locations, India also offers some advantages in the region.

India's acquisition spree
20/03/2007. Indian companies - usually quietly, but sometimes with media fanfare - have been on a buying spree in continental Europe, Great Britain and Asia in attempts to become key players in global markets, says Knowledge Wharton.

The Indian growth phenomenon
14/02/2007. While much has been written about India’s booming consumer class, Actis explores why income and demographic trends are fuelling sustained growth and looks at the exciting opportunities this presents.

Private equity in India's banking and financial services industry
07/02/2007. The Indian banking and financial services industry is opening up new opportunities for investment, says the India Venture Capital Journal. This report contains analysis and surveys of the active VC/PE players involved in the industry.

Beyond Taj Mahal
13/12/2006. Indian companies are assuming a role on the global private equity divestment scene, says APER. For more than half a century, the notion of going global has been an alien subject to Indian corporations.

The new breeds
06/12/2006. Two different profiles of private equity managers are emerging in China and Indian, says APER, while, they discover, the Asian private equity party is still in full swing.

Indian pharma industry to look beyond the generics market Industries
06/12/2006. India is set to become a regional hub for R&D, manufacturing and exporting, says KPMG. Multi-national companies are returning, but they believe considerable regulatory and infrastructure challenges remain.

China or India: Which is the better long-term investment for private equity firms?
18/10/2006. India and China are both vast countries just opening to development, says Knowledge Wharton, filled with opportunity and risk for private equity investors. Inevitably, the two countries' rising economic fortunes invite debate over which offers the better climate for investment.

Consumer Markets in India - the next big thing?
20/09/2006. India represents an economic opportunity on a massive scale, both as a global base and as a domestic market, says KPMG. Regulatory controls on foreign direct investment have relaxed considerably in recent years and price controls have been progressively liberalised since 1992.

An Indian exit ... in London
06/09/2006. A backgrounder from King Stubb & Kasiva for private equity players that are interested in listing Indian companies on the UK's AIM market.

Manufacturing in India - opportunities, challenges, and myths
30/08/2006. India represents an economic opportunity on a massive scale, says KPMG. China and India are likely to be the world's two biggest economies by mid-century, and although India has underperformed in the first lap of the growth race, there was a strong possibility that India may well move ahead.

Update on granting stock options in India: 2006
02/08/2006. This is a Fenwick & West overview of the legal and strategic issues related to a US parent company granting stock options to employees of its Indian subsidiary, including consideration of exchange controls, securities laws and obtaining possible tax benefits for an optionee.

Private equity investments in India cross $2.3bn during 2005
28/06/2006. While late-stage and publicly-listed companies cornered over 60 per cent of private equity investments during 2005, Venture Intelligence India's study shows that last year also witnessed a revival in early-stage investments.

India energy outlook
16/05/2006. A rapidly increasing population and growing urbanization has put immense pressure on energy and natural resources in India, finds KPMG, as traditional sources of energy such as fossil fuel reserves are depleting. Investment requirements are therefore huge.

2006 update to structuring venture capital and other investments in India
10/04/2006. Many US and other foreign investors are evaluating alternatives for investments into software development, business process outsourcing, drug discovery and other services companies based in India, says Fred M Greguaras, Blake Stafford, and S R Gopalan of Fenwick & West.

Indian private equity: Venturing into India
31/01/2006. A legal and structural overview of the Indian VC industry. India continues to attract a substantial portion of global private equity capital, says the Indian Venture Capital Journal. Backed by a strong IT services sector and the more recent IT enabled services - business process outsourcing - India continues to be on the radar screen of most global private equity players.

BPO visits
25/01/2006. Since 2002, there are 57 private equity exits known to have been initiated by investors of India-based companies, says the Asia Private Equity Review. The gross IRR ranges between 1,648 per cent to -100 per cent, with a median of 30 per cent. But known divestment results for India-based business process outsourcing companies - BPO - boast a gross IRR range of 47 per cent to 305 per cent, with 90 per cent being the median.

The BPO opportunity: goldmine or minefield?
14/12/2005. New technology, global competition and changing markets have led to rapid transformation taking place in the global outsourcing market with the emergence of a number of global giants and new entrants, says the Indian Venture Capital Journal. Today, India is the world's offshoring capital with phenomenal growth potential.

Private equity firms invest $395m during April-June 2005
04/07/2005. The increasing interest among private equity firms to invest in Indian manufacturing companies and the entry of brand name US venture capital firms were the highlights of the latest quarter, a TSJ Media study reveals.

M&A in India
29/03/2005. Economic performance and continued liberalisation is set to drive mergers and acquisitions growth in India, finds PricewaterhouseCoopers.

Venture Intelligence India Roundup: Q4 2004
01/03/2005. Recent venture capital activity in India is analysed by Indian VC research house TSJ Media. It finds that venture capital and private equity firms announced investments of over US $94 million in 9 Indian companies during the quarter ending September 2004.

International Private Equity Investors Dominate Indian Corporate Finance Deals
25/01/2005. The year 2004 was the year of the Private Equity Investor, says India Advisory Partners in its latest report. Even as valuations soared and the Indian stock market reached record highs, private equity investors recovered from the shock of seeing the left wing political parties prop up the Congress led central government and invested Rs. 76.83 bn (US$ 1.7 bn) in Indian companies, the highest amount in the last three years.

Offshoring: Indian exodus
11/01/2005. Offshoring, the transfer of jobs to low-cost labour markets such as India, is predicted to continue as a labour arbitrage model until 2008/2009, making new demands on lawyers with the scale and complexity of multijurisdictional projects. Transactional experience is now flowing back into the marketplace, says Freshfield Bruckhaus Deringer, giving previously unavailable insight into the problems and opportunities presented by this thorny business issue. This briefing outlines the relevant issues that have emerged.

An Update on Structuring Venture Capital and Other Investments in India
29/11/2004. Many U.S.and other foreign investors are evaluating alternatives for investments into software development, business process outsourcing, drug discovery and other service companies in India, says Fenwick & West. Despite news stories about U.S. venture capitalists traveling to India to look for investments in Indian companies, both U.S.and India venture capitalists tend to make investments into a U.S. company which has a subsidiary in India for fulfillment.

Venture Intelligence India Roundup: October 2004
25/10/2004. Recent venture capital activity in India is analysed by Indian VC research house TSJ Media. It finds that venture capital and private equity firms announced investments of over US $94 million in 9 Indian companies during the quarter ending September 2004.

Season for M&As
05/08/2004. Charging alongside India's impressive economic growth is the country's record merger and acquisition activity. This surge in M&A transactions is providing India's private equity firms with the vital opportunity to either exit or merge their existing portfolios, according to the Asia Private Equity Review.

The US-India corridor
19/07/2004. Globalisation is challenging a core maxim of private equity investment. The conventional wisdom that a management firm has to be 'within a taxi ride' of its investee company is no longer valid. A recent trend in the Indian private equity industry suggests cross-border investment is the favoured approach, according to the Asia Private Equity Review.

Will investors sing Singh's praises?
28/06/2004. The strong economic credentials of India's new prime minister, Manmohan Singh, have only partially eased concerns among foreign investors, according to the Asia Private Equity Review.

Leapfrogging? India's information technology industry and the internet
07/06/2004. The internet is widely viewed as a set of technologies that might enable developing countries, such as India, to leapfrog over the development path taken by industrial countries, enabling poorer nations to increase their rates of growth and catch up sooner, according to Robert Miller of the International Finance Corporation.

The Indian power sector
17/09/2003. India's power sector has undergone a series of fundamental reforms during the last decade. The result, according to Freshfields Bruckhaus Deringer, is that the industry has become increasingly attractive to foreign investors.

Ringing in the rupees
04/06/2003. The global telecoms industry is characterised by negative news at the moment. Yet the sector in India seems to be bucking the trend. It is growing at an alarming rate and is also attracting foreign investment, according to VG Kulkarni of the AVCJ.

Bollywood breaks loose
05/11/2002. Until recently, private equity firms have shied away from investing in the Indian media sector – it was heavily restricted by regulations on foreign investment and was an untidy and disorganised sector. VG Kulkarni of the Asian Venture Capital Journal discusses the sector's phenomenal growth and the opportunities now abounding.

Venture capital firm internationalization and monitoring investees: the case of India
09/09/2002. In this exploratory paper Mike Wright, Sarika Pruthi and Andy Lockett at the Centre for Management Buy-Out Research look at the differences between foreign and domestic venture capital firms in India, and find that they have different ways of adding value to the high-tech firms they are funding.

India shifts gears to IT and outsourcing services
21/08/2002. The Indian venture capital industry is a constantly evolving landscape as investment into the region shifts from sector to sector. The domestic technology market is currently enjoying enormous growth. David Leidl of the AVCJ discusses the trends of the current market and offers a word of caution to those investors who are contemplating jumping on the bandwagon.

Global Entrepreneurship Monitor - India
29/07/2002. India's culture, with its social organisation, is often identified as the reason for the country's slow rate of economic development and low level of entrepreneurial activity. This study commissioned by the Global Enterprise Monitor and conducted by the Indian Institute of Management looks at what steps must be taken to foster a spirit of entrepreneurship.

Tax-free foreign venture capital investment
08/07/2002. Under new rules in India, the entire income of registered VC funds, whether foreign or domestic, is exempt from Indian income tax, subject to certain conditions. But to take advantage of this tax-exempt status, funds must register with the regulator, the Securities and Exchange Board of India. Berjis Desai of Udwadia, Udeshi & Berjis explains further.

Biotechnology in India
12/06/2002. Despite spanning several decades, the Indian biotechnology sector is limited when compared to the US and Europe. However, the country is making considerable investments in the sector through its government and venture capital funds. Utkarsh Palnitkar of Ernst & Young examines the growth of India's biotechnology sector and assesses what the future holds

Structuring investments in India
29/05/2002. Investments in India can often be subjected to heavy tax burdens. However, there are ways and means of overcoming this as an obstacle. Fred Greguras of Fenwick & West examines some of these means, including the use of a venture capital fund that is registered with the Securities and Exchange Board of India.

Venture capital in India
08/05/2002. The venture capital industry in India has grown dramatically in the last few years, even boasting its own ‘Silicon Valley' in the form of Bangalore. However, VCs and their investors recently lost a great deal of money when India's stock markets crashed. Michael J Ybarra of Upside argues that the industry is now characterised by massive risk-taking but that there are opportunities for some very substantial returns.

Revitalising India's banks
22/01/2002. If India doesn't find the capital to revive its weak public-sector banks and to tackle the mounting problem of non-performing loans, its banking system will founder. To prevent this from happening, India's government must commit itself to reforming and consolidating the sector, says McKinsey Quarterly.

India - From emerging to surging
10/09/2001. India's economy could be the fastest growing in the world and the country's citizens twice as well off if its policy makers embraced a deeper, faster process of economic reform, says this article from McKinsey Quarterly

Venture capital funds in India: an overview
17/07/2001. Venture capital funds in India have more than doubled from US$320m in 1999 to US$750m in 2000. Here, Nishith Desai Associates explains how the recent boom in the technology sector has awakened India's venture capital industry.

Overview of Indian venture capital
29/05/2001. Indian venture capital is at a take-off stage in India, according to this report from NASSCOM. Changes to the regulatory environment look set to encourage the flow of investment to the Indian high-tech sector.