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As of 2021, India has the second largest armed forces and the third largest defence budget in the world. However, historically, the defence sector in India has been a monopoly for public sector companies. In 2001, the defence sector was unlocked for domestic private businesses subject to certain licensing requirements. This was also the same time foreign investors were permitted to invest in the defence sector. Initially, foreign direct investment (FDI) was permitted up to a maximum of 26%. Over the years, the FDI cap has been substantially increased and currently stands at 100%, subject to certain conditions. More recently, due to external aggression from neighbouring states, the Government has been keen to further develop the Indian defence manufacturing sector. The thrust has been to encourage the development of indigenous solutions for its defence requirements and reduce its external dependency. In this article, we will discuss the opportunities for foreign and domestic investors in the Indian defence industry.

Initial discussions between founders and VC funds are usually centred around the business and valuations. When commercial discussions materialise, the first step towards the investment is execution of a term sheet. But when the VC fund offers a term sheet to the founders, it comes with certain legal terms and conditions – what are those terms and conditions? In Part II of the VC Series we discuss the approach to negotiate a term sheet – the need to understand the implications of the legal terms used in the term sheet and the market standards in India

Over the last few decades while India went through radical changes, so did the world of venture capital (VC) financing for start-ups. While seasoned institutional investors are well versed with the legalities of VC financing, first-time founders are often struggling to find their feet in the journey. Likewise, first-time investors in India also grapple at times with adopting some of the market standards that have been established in the Indian market. This series is an endeavor to offer guidance to first-time founders and investors in India. What should they do? How should they do it? What are the accepted VC practices in India? We have tried to answer these and other questions.

The conventional idea of schooling has undergone a drastic change over the last century. Schooling has evolved with the integration of technology that has enhanced both learning and teaching experiences. The prevailing Covid-19 pandemic has only accelerated this trend by further embedding technology into the learning process. The result has been that tech savvy students now use engaging apps and attend online courses; seamlessly enhancing education despite the lockdown caused by the pandemic. This fast-emerging sector is better known as education technology (EdTech). The essential aim of EdTech is to make learning more fun by using interactive methods of teaching and in the bargain improving the standard and quality of education. This article analyses the regulatory regime that applies to the EdTech sector in India and the emerging opportunities in this space.

With the rapid advancement of the internet and movement of businesses online, it was only time before the pharmaceutical retail industry also joined the bandwagon. The pharmaceutical retail industry which has long been popular among investors also started to venture into providing online services (Online Pharma). This was due to the increased demand and tech-savvy clientele who preferred to order from the comfort of their homes. So, it was only natural that the Online Pharma sector bloomed during the Covid-19 pandemic and the ensuing lockdown. Online Pharma is high in demand due to better discounts, convenience, greater anonymity, accessibility in remote locations, easy home delivery, etc. These features have made it the preferable option over community brick and mortar pharmacies during the pandemic. This article explores the current regulatory regime surrounding Online Pharma and the opportunities in India that it presents for investors.

Rapid economic development coupled with a never-ending surge to save travel time have resulted in widespread adoption of automobiles throughout the globe. While automobiles have helped human beings develop at an exponential rate, they have also adversely contributed to global warming. India, along with various other countries, has signed and ratified the Paris Agreement to limit global warming in the interest of climate change. This has led to the Indian Government effecting various methods to decrease India’s CO2 emissions. Some initiatives were by adopting stricter emission norms for combustion engines, promoting electric vehicles (EVs) by giving a host of incentives to manufacturers and end-customers etc. Initially, EVs were plagued with various issues such as less range, mediocre performance, lack of electric vehicle charging infrastructure (EVCI) etc. With passage of time, while most of these issues were resolved to an extent so as to allow practical usage, EVCI was yet to catch up. In this article, we will discuss the emergence of startups developing EVCI and the applicable regulatory regime, which could enable them to grow at a rapid pace.

Agriculture can be referred to as one of the oldest and primary occupations in human history and is the primary source of livelihood for about 58% of India’s population. Even though most people in India depend upon agriculture sector, its contribution to the GDP of the country is not significant. In fact, its year-by-year contribution in the GDP of India since independence has gradually decreased. This could be attributed to various challenges faced by the sector such as dependency on monsoon for irrigation, lack of knowledge in relation to time of sowing and quality of seeds, soil erosion, outdated farming practices etc. Unlike other sectors, agriculture has been left behind when it comes to making use of the latest technologies. In this article, we will discuss the emergence of data-driven startups who are using artificial intelligence (AI) to script a change in this sector. Since these startups rely mostly on data, they need to be mindful of the relevant data regulations applicable to them.