 US company, Ebix has announced the acquisition of travel portal Yatra Online for $337.8 million. Now, Yatra has become the part of Ebix’s EbixCash travel portfolio, forming India’s one of the “largest and most profitable” travel services companies. Yatra will continue to serve customers under its brand, alongside EbixCash’s two other travel brands ‘Via’ and ‘Mercury’. Ebix is a provider of on-demand software and e-commerce services. |
| Source: The Hindu |
 Larsen & Toubro Infotech Ltd acquires AI firm Lymbyc for Rs 38 crore. Lymbyc’s expertise in data discovery, agile analytics and ability to process large data sets, will enhance LTI’s Mosaic platform to provide differentiated analytics solutions. Lymbyc is a Bengaluru-headquartered company known for its capabilities in analytics and data sciences space. |
| Source: The Hindu |
 Israel Aerospace signs $50 million follow-up deal with Indian navy. Under the deal, Israel Aerospace Industries will provide complementary missile systems to the Indian navy and India’s MDL Shipyard. The agreement also involves a range of maintenance and other services for sub-systems of Israel Aerospace’s naval medium range surface-to-air missile. |
| Source: The Economic Times |
 The Department of Telecom (DoT) and the Indian Council for Research on International Economic Relations (ICRIER) signed a MoU to develop a Broadband Readiness Index (BRI) for Indian States and Union Territories (UT). The first estimate will be made in 2019 and subsequently every year until 2022. |
| Source: The Press Information Bureau |
 India and Italy have decided to set up a fast track mechanism to facilitate investors and companies. The meeting was attended by Ambassador of Italy to India, Lorenzo Angeloni and Secretary of Department of Industrial Policy and Promotion, Ramesh Abhishek. The fast-track system in Italy aims to identify and solve problems faced by Indian companies and investors. |
| Source: The News on AIR |
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| OYO Hotels & Homes has formally announced its acquisition of co-working venture Innov8. OYO will operate the firm Innov8 as an independent brand, and along side its existing co-working operations. |
| Source: The Economic Times |
 A joint venture of a Kalyani group firm and Israel’s Rafael Advanced Systems has secured a $100 million contract for manufacturing 1,000 Barak-8 MRSAM missile kits. Kalyani Rafael Advanced Systems will manufacture the kits at its production facility near Hyderabad and supply them to Bharat Dynamics for further integration. The product will be used by the Indian Army and the Air Force. |
| Source: The Hindu |
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| India handed over 250 pre-fabricated houses to Myanmar in Maung Daw for use of displaced returnees from Bangladesh. The Indian government had taken up the project under its Rakhine State Development Programme for $ 25M for a period of five years. |
| Source: The News on AIR |
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| The Bharat Chamber of Commerce and the BRICS Chamber of Commerce and Industry, New Delhi, signed an MoU for promoting trade and investments between the BRICS countries and the eastern part of India. |
| Source: The Business Standard |
 Defence Ministry has signed an MOU with the Intellectual Property Facilitation Celland National Research Development Corporation in connection to the mission Raksha Gyan Shakti. The MoU will bridge the capacity shortfall and provide a major fillip to the ongoing efforts of the Defence Ministry towards promoting a culture of Innovation and Intellectual Property Rights in the Defence industry. The aim of Raksha Gyan Shakti is to inculcate Intellectual Property culture in Indian defence manufacturing ecosystem. |
| Source: The Business Standard |
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