| | NOVEMBER 20238Union Minister of Commerce and Industry, Piyush Goyal, held a meeting with YouTube CEO Neal Mohan to explore the extensive potential for YouTube's expansion in India. Piyush Goyal shared his enthusiasm for the discussions, highlighting India's thriving digital ecosystem, expanding content landscape, and diverse, youthful demographic. Goyal emphasized the immense opportunity for YouTube to enhance collaboration and establish a stronger presence within the country.During his four-day visit to the US, Piyush Goyal engaged in various discussions and meetings. He met with Micron Technology CEO Sanjay Mehrotra, emphasizing the significant prospects for the company within India's burgeoning semiconductor ecosystem. Goyal highlighted the opportunities for collaboration and expansion in the country. Additionally, Goyal conducted a roundtable discussion with notable academicians at Stanford University. He underscored the extensive possibilities for partnerships with Indian higher education institutions to encourage a dynamic exchange of knowledge, research, and innovative solutions for global challenges.Furthermore, Goyal interacted with Silicon Valley entrepreneurs and venture capitalists, emphasizing India's youthful talent, thriving business environment, and burgeoning economy as prime opportunities for investments. He highlighted these aspects during his engagement with the entrepreneurs and investors. Edward Knight, Chair of the US-India Business Council Board and Executive Vice Chairman at Nasdaq, remarked on the enthusiastic exchanges and collaborations between the Indian and US governments to foster entrepreneurship in both nations. The German global technology company Siemens AG will pay Siemens Energy 2.1 billion euros in cash to acquire an 18 percent share in Siemens Ltd. India, the company announced. This action will be taken through the execution of a share purchase agreement.This would result in Siemens Energy's stake dropping from 24 percent to 6 percent and Siemens' interest in the publicly traded Siemens Ltd. India rising from 51 percent to 69 percent. The purchase price includes a customary 15% discount on the volume-weighted average price before the day of signing, the company said. "With the intended acquisition, Siemens and Siemens Energy accelerate unbundling the business activities of the Indian subsidiary of Siemens". Roland Busch, President and Chief Executive Officer of Siemens AG, stated, "Together, we shaped a solution that is in the best possible interests of all parties and accelerates the separation of Siemens and Siemens Energy in India." In addition to the immediate cash inflow, he continued, "We are also enabling an additional line for customer guarantees, making a strong overall contribution to the future stability and growth of Siemens Energy".Additionally, Siemens and Siemens Energy have reached an agreement for indirect financial measures totaling 1 billion, which will enable third parties to provide Siemens Energy with guarantees. Siemens Energy's 750 million 5 percent stake in Siemens India will be used as security for assurances by the parent company. The parent has agreed to pay the specified amount for up to 5 percentof the India unit's shares in the event that the collateral is pulled. GOYAL DISCUSSES COLLABORATION OPPORTUNITIES IN INDIA WITH YOUTUBE CEOSIEMENS AG TO ACQUIRE 18 PERCENT STAKE VIA SIEMENS INDIAIN FOCUSIN FOCUS
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