Big News

Cisco Partners with Google to Roll Out High-Speed Public Wi-Fi in India.  Cisco will work with Google’s gStation platform to provide communities around India access to a free, open, high-quality public Wi-Fi. 500 locations have been identified for the first two phases, with the first phase expected to be completed by October 2019.

Government to Raise US$47bn over Next Five Years from Stake Sale in Public Sector Undertakings (PSUs).  The government plans to reduce its stakes in some large state-owned firms to 40%, which will open up a steady stream of state companies to greater private investment and target the annual divestment revenue to meet fiscal deficit targets.

Government to Spend US$714m on Skilling Unorganized Workers.   India’s skill mission will shift its focus from the formal to informal sector, with an annual expenditure of around US$714m. This expenditure will involve skilling 93% of the workforce in the informal sector.

India to Change All Electricity Meters to Prepaid Smart Meters by 2022.  The government believes the shift to smart meters will help in reducing theft by identifying loss pockets and will increase distribution substation capacity by 38%.

CDC Group to Double India Exposure to US$3.5bn by 2021.  CDC Group, the development finance institution of the UK government, plans to double its investments to US$3.5bn by 2021 from its current portfolio of US$1.7bn. The firm plans to increase its focus on direct investments in the country.

Hewlett Packard to Invest US$500m in India over the Next Five Years.  Hewlett Packard Enterprise will invest US$500m over the next five years to grow its operations, increase its R&D and services exports as well as increase its workforce by 20%. The company plans to begin manufacturing in India by end of this year.