Tencent-backed Indian health care startup faces tax probe ( By Gangadhar S Patil)

BANGALORE, India — Practo, a high-flying health care startup backed by China’s Tencent Holdings, is being investigated by Indian authorities looking into whether it evaded tax through a cross-border corporate restructuring. According to a notice from the Bangalore office of the Department of Income Tax seen by Nikkei Asian Review, Practo executives have been summoned[…]

Bangalore cab cooperative challenges Uber, Ola ( by Elizabeth Mani)

BANGALORE — A taxi cooperative established by a former state chief minister is set to give Uber and Indian rival Ola a run for their money in Bangalore, where drivers have been protesting the cab aggregators’ negative impact on their earnings. The city’s drivers are angry with Uber and Ola because the ride aggregators have[…]

Indian commerce minister cites Chinese trade barriers (by Sat Singh)

NEW DELHI — India’s reluctance to lower its high trade barriers has often been cited as an obstacle to regional and global trade pacts. Commerce and Industry Minister Nirmala Sitharaman, however, disputes this view. She told Nikkei in a recent interview that China and members of the Association of Southeast Asian Nations are in fact[…]

‘Australian’ wheat turning farmers’ heads in India (by Chandrakant Pargir and Manish Soni)

KOREA, Inida — Parmeshwar Rajwade struggled for years to make a living on his small farm in Kanchanpur, a village in the Korea district of India’s poor eastern state of Chhattisgarh. Then one day in 2013 a sales agent from a seed company handed him a 2kg packet of unnamed foreign wheat seeds that promised[…]

Coca-Cola nears biggest showdown with India activists

BANGALORE — As India’s clean water shortage grows, environmental campaigns against Western soft-drink companies are gaining momentum. A court forced PepsiCo, a U.S. food and drinks group, to shutter a decade-old bottling plant in the state of Kerala in February by directing industries to reduce water usage by 75% because of a drought. The plant,[…]

Indian drug groups ramp up biosimilar bets

BANGALORE, India/NEW DELHI — Indian pharmaceutical companies, which dominate the global generic drugs market, are gearing up for their next big opportunity — developing an innovative class of complex drugs when the original products, with sales of up to $60 billion a year, go off patent in the advanced industrial economies. These drugs, called biosimilars,[…]