India's fifth largest private sector Bank, YES Bank on 11 March 2016 signed a strategic Memorandum of Understanding (MoU) with India Brazil Chamber of Commerce (IBCC) to enable significant cooperation in terms of knowledge partnerships, project consultancy, B2B opportunities, skill and technology initiatives.
As per the announcement of YES Bank, the MoU signing comes in the run up to the 8th Annual BRICS Summit to be held in New Delhi in 2016.
The core sectors covered in the MoU will be Sports, Media and Entertainment with special focus on IT, Infrastructure, Broadcast and Innovative solutions driven business opportunities.
YES BANK and IBCC will jointly endeavour to explore exchange of best practices in Sports goods Manufacturing, CSR in sports, SM&E talent management.
Moreover, IBCC will also recommend YES BANK as the Preferred Bank to Brazilian companies looking to do business in India.
Key highlights of the MoU
• Knowledge partnerships: Including with various industry bodies/chambers and at Brazil Government/ Embassy forums.
IBCC and YES BANK will also create knowledge reports together by facilitating industry and Government participation on the same.
• Project Consultancy: Detailed Project Reports (DPRs) on entry strategies for Brazil companies in the Sports, Media and Entertainment space into India.
• B2B Opportunities: Identifying the right business partners in India for Brazil companies for strategic/business tie-ups and for Indian companies interested in strategic tie-ups/investments in the Brazil.
Assist in financing advisory covering strategic advisory, fund raising, direct & structured financing.
• Skill Initiatives: Jointly facilitating imparting of soft skills in Sports, Media and Entertainment sector (to individuals/corporate/NGO community, education institutions etc.)
• Education in SM&E: Exchange program for education institutes in SM&E and imparting best global practices/education systems.
• Introduction to existing Brazil companies in India: More than 13 Brazil companies are currently operating in India.
• Preferred Banker status to YES BANK as well as Sports, Media and Entertainment Advisor recommendation to potential companies, looking at investing in/entering India for strategic partnerships with Indian entities.
• Introduction to companies in Information and Technology in SM&E: Would provide a platform for both companies in India and Brazil to showcase/exchange technology/knowledge.
• Introduction to companies in Infrastructure development in Sports: Enhancement of state of the art infra installations in Media and Entertainment.
• SM&E Value chain analysis and trade policy advisory with Government and industry associations.
• Harness business opportunity specifically in Sports goods Manufacturing, CSR in sports, SM&E talent management.
About India-Brazil Chamber of Commerce
• India-Brazil Chamber of Commerce was founded in 2003 in Brazil.
• It is a non-profit organisation, which aims to foster the economic, cultural and tourism ties between India and Brazil, facilitating bilateral business and assisting its members in relevant matters, providing them its operational infrastructure and its knowledge of both cultures.
• The Chamber promotes imports-exports of Indian and Brazilian members offering quality customized services, through a professional team committed to the order of their members.
Now get latest Current Affairs on mobile, Download # 1 Current Affairs App
What: Signed strategic MoU
When: 11 March 2016