18 October 2019

Newsbreakers

SUPER INVESTOR

 

That India is where the development action is has been underlined by Wang Jianlin, China richest man and biggest commercial property developer, through his recent announcement to build a $10-billion industrial park, one of the biggest construction projects in the country. Jianglin’s Dalian Wanda Group has signed a preliminary agreement with the Haryana government to build an industrial park at Kharkhoda near Sonipat. The first phase of 'Wanda Industrial New City' to begin construction this year will occupy a space of 13 sq km and house industries ranging from software to cars and healthcare. A cultural tourism city and a residential district will also be developed as part of the project. The Dalian Wanda Group has tentacles all over the world particularly in real estate. Its subsidiary Dalian Wanda Commercial Properties owns 21.57 million square metres of investment property, 134 shopping plazas, 82 luxury hotels, 213 cinemas, 99 department stores, and 54 karaoke centres around China. The 61 year old businessman and philanthropist who serves as Chairman of the Dalian Wanda Group has been involved in deals across the globe from real estate to sports to entertainment. With his fortune of $12.3 billion in 2015 and a net worth of $28.8 billion, Jianlin has become the world’s 20th richest billionaire.  And India Inc, with its infrastructure development ambitions and investment needs, shouldn’t mind some of the dragon’s money coming its way. 

 

 

 

STARTUP CZAR

 

Counted among India’s best-known corporate technocrats, Nandan Nilekani, a man credited with building the world’s largest identity database, ideas person, author and Infosys co-founder and a billionaire – he’s ranked 69th on Forbes’ India Rich List with an estimated wealth of $1.58 billion – has added startup and “private” equity investor in 2016 to his outstanding resume. Nilekani along with three venture capital (VC) funds have invested around `140 crore in Power2SME, a Gurgaon based startup which aggregates raw material demands of small and medium enterprises (SMEs) across categories such as chemicals, additives, inks, paints, metals, and polymers and services these bulk requirements by negotiating with big suppliers such as SAIL, Tata Steel, Essar Steel, GAIL, JSW, Haldia Petrochemicals, DuPont, Posco Steel and Apollo Pipes. Power2SME has 30,000 SMEs on its platform and is currently focused on SME hubs of Gujarat, Maharashtra, West Bengal, Tamil Nadu and Delhi-NCR. Nilekani, who has invested in four startups in the past three months including Mubble, Team Indus, Fortigo and Juggernaut, is of the view that SMEs constitute the backbone of the Indian economy and can play a fundamental role in the country’s economic growth if their need for tech platforms and marketplaces is addressed. Nilekani may have failed in his political dalliance but he knows where to put his money to good use.




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