MARKET MOVEMENT. Major Indices June 03, 2016 June 10, 2016 % Change. BSE Sensex 26, , (0.77) NSE Nifty 8, , (0.

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1 MARKET MOVEMENT Major Indices June 03, 2016 June 10, 2016 % Change BSE Sensex 26, , (0.77) Change NSE Nifty 8, , (0.61) INDIAN ECONOMY AT A GLANCE POLICY WATCH Strategic partnership to boost skill development initiatives in aviation sector Gujarat announces policy for tech-based startups India and Qatar signs seven pacts India and US announce clean energy projects Karnataka Cabinet clears retail trade policy Strategic partnership to boost skill development initiatives in aviation sector Airport Authority of India (AAI), National Skill Development Corporation (NSDC) and National Skill Development Fund (NSDF) have signed a Tripartite Memorandum of Understanding (MoU) where AAI has committed to contribute an amount of USD 0.8 million of its CSR funds to NSDF along with land and premises for setting up skill development centers in the country for scaling up skill development initiatives in the aviation sector. This pact is the result of the joint efforts made between the Ministry of Skill Development and Entrepreneurship and the Ministry of Civil Aviation. Gujarat announces policy for tech-based startups The Gujarat government has announced first-ever 'IT and Electronics Startup Policy', with a special focus on encouraging startups by providing a number of incentives and subsidies. Under the policy, the state government would develop 50 incubators to mentor and guide 2,000 startups in the next five years. The aim is to attract an investment of USD 1.06 billion through this policy. Look for Business Bulletin on our website at Page 1of 5

2 India and Qatar signs seven pacts India and Qatar have signed seven agreements, including one facilitating Qatari institutional investments in India s National Infrastructure Investment Fund and another on the exchange of information on terrorist financing and money laundering. The two countries also agreed to expand cooperation in energy through promotion of Joint Ventures (JVs) in petrochemical complexes and cooperation in joint exploration India and US announce clean energy projects India and US have announced a joint initiative to mobilize up to USD 400 million for lighting up one million Indian households by 2020 with renewable power. Both governments will equally set up a USD 20 million US-India Clean Energy Finance initiatives for mobilising funding for New Delhi's renewable energy plans. Both have committed to establish the US-India Clean Energy Hub as the coordinating mechanism to focus US government efforts to increase renewable energy investments in India in partnership with leading Indian financial institutions. Karnataka Cabinet clears retail trade policy The Karnataka Cabinet has approved a new retail trade policy in order to promote investments in retail trade and employment creation. Karnataka's policy follows similar policies in Maharashtra and Andhra Pradesh, notified last year and this year, respectively. The Cabinet has decided to give industry status to retail enterprises in order to promote more investment in retail activity. INDUSTRY WATCH Passenger vehicle sales up on demand for compact SUVs Solar capacity rise past 7.5 GW mark in May FDI inflow increase by 42% since June 2014 India ranks 2 nd on GRD index on ease of doing business India s insect repellent market records USD 666 million in retail sales Passenger vehicle sales up on demand for compact SUVs Sales of passenger vehicles have increased by 6.7% to 231,640 units in May driven by demand for compact utility vehicles such as Maruti Suzuki Baleno and Hyundai Creta. Utility vehicles sale grew by 35.9% to 58,793 units. Sales of commercial vehicles went up by 16.9% to 57,089 units in May. Demand for two-wheelers too rose by 9.7% to 1,515,556 units on the back of strong scooter sales. Look for Business Bulletin on our website at Page 2of 5

3 Solar capacity rise past 7.5 GW mark in May The cumulative solar installations in the country rose to 7.5 GW (giga watt) in May, with about 2.2 GW installed so far this year - more than all of the solar installations achieved in There are more than 22 GW of solar projects in the pipeline. Of this, projects for 13 GW are under various stages of construction, while request for proposal has been invited for another 9 GW. In , solar accounted for 2.5% of the net installed capacity in the country, up from 1.4% a year ago, and was the fastest-growing new energy source. FDI inflow increase by 42% since June 2014 The Foreign Direct Investment (FDI) rose 42% since June While FDI dipped 16% globally, India continued to remain among top choices for foreign investors. India received the highest-ever FDI in In fiscal through March, the inflows grew 29 per cent to USD 40 billion as against USD 30.9 billion in FDI for was the highest since Among others, the new government has liberalised FDI policy in sectors, including the railways, insurance and defence. India ranks 2 nd on GRD index on ease of doing business India has climbed 13 positions from last year to rank second among 30 developing countries this year on ease of doing business. According to 2016 Global Retail Development Index (GRDI), which ranks top 30 developing countries for retail investment worldwide, a pickup in GDP growth and better clarity regarding FDI regulations have helped India achieve a second ranking. India has relaxed several key FDI regulations in single-brand retail and this has paved the way for multinational firms to enter the market. India's retail sector has expanded at a compound annual growth rate of 8.8% between 2013 and 2015, with annual sales crossing the USD 1 trillion mark. India s insect repellent market records USD 666 million in retail sales From mosquito coils to cockroach sprays to electric swatters, India's insect repellent market has recorded USD 666 million in retail sales a year. Coils were the top selling repellents with a 50% market share, though sprays are also gaining in popularity. The country's home insecticide market is forecast to reach USD 787 million by Look for Business Bulletin on our website at Page 3of 5

4 CORPORATE HIGHLIGHTS Clean energy company Greenko raises USD 230 million in fresh funds Helpshift raises USD 23 million in Series B funding TVS Automobile Solutions acquires three digital startups Charoen Pokphand Foods forays into packaged foods business in India FCI signs pact with Adani Group for construction of 2 silos Murugappa group firm TI Cycles opens factory in Punjab Clean energy company Greenko raises USD 230 million in fresh funds Clean energy company Greenko Energy Holdings, an affiliate of the Singapore government s sovereign wealth fund GIC, has raised USD 230 million in fresh funding from Abu Dhabi Investment Authority and the parent firm. GIC, which acquired a majority stake in Hyderabad-based Greenko Group Plc s Mauritius entity (Greenko Energy Holdings) for GBP million in October is infusing USD 80 million into the company through one of its affiliates. Helpshift raises USD 23 million in Series B funding Helpshift Inc., a start-up that makes customer support software for mobile apps has raised USD 23 million in Series B funding from Microsoft Ventures, Salesforce Ventures and existing investors Intel Capital, Nexus Venture Partners, True Ventures and Visionnaire Ventures. The firm had earlier raised USD 13 million from Intel Capital, Nexus Venture Partners, True Ventures and Visionnaire Ventures. Helpshift was started in 2012 in Pune, and is now headquartered in California, USA. TVS Automobile Solutions acquires three digital startups TVS Automobile Solutions Ltd. (TVS ASL) has picked up a majority stake in three startup ventures. The company has invested USD 11 million for an undisclosed stake in these outfits. The three firms are: Jazzmyride.com (an e-commerce portal), which deals with parts and accessories for cars, two-wheeler and commercial vehicles; Autosense (a venture of Cequity), which provides technology and analytics-based management services; and Redsun (promoted by Redsun Consultancy); an Internet of Things start-up which has developed solutions such as connected cars. Charoen Pokphand Foods forays into packaged foods business in India Thailand-based agro-industrial conglomerate Charoen Pokphand Foods Public Company Limited (CP Foods) has announced its foray into the packaged foods business in India, with a new chicken processing plant in Chittoor, Andhra Pradesh. Specially crafted by its in-house chefs, the Look for Business Bulletin on our website at Page 4of 5

5 company will be unveiling a range of branded products, including CP Frozen Chicken, CP Chilled Chicken, CP Easy Snacks-veg and non-veg, and CP eggs. FCI signs pact with Adani Group for construction of 2 silos State-run Food Corporation of India (FCI) has entered into an agreement with Adani group for construction of two silos to store wheat, at an estimated cost of about USD 12 million. The two silos would have a combined storage capacity of 75,000 tonnes. As part of the agreement, Adani Agri Logistics will construct silos at Kotkapura in Punjab and Katihar in Bihar in the next two years. Murugappa group firm TI Cycles opens factory in Punjab TI Cycles has opened a bicycle factory in Rajpura Punjab. The strategic location of the factory will help the company serve the Northern and Eastern markets more effectively. Built at a cost of USD 16 million, the factory can produce 250,000 cycles a month and the capacity can be expanded to cater to growing demand. The plant will also be equipped with a 350-kW rooftop solar power set-up for a part of its energy needs. Look for Business Bulletin on our website at Page 5of 5