Yes Bank, Malaysian bank tie up for services

Yes Bank and Maybank will be able to leverage their combined expertise, strong local knowledge and excellent corporate relationships

Yes Bank and Malayan Banking Berhad (Maybank), a Malaysian bank, entered into an agreement to collaborate on cross-border investment banking advisory, corporate banking, trade finance, remittance and other allied services.

The alliance will play an active role towards further augmenting trade and investment flows in the Indo-South East Asia corridor. With this tie-up, Yes Bank and Maybank will be able to leverage their combined expertise, strong local knowledge and excellent corporate relationships to open up investment banking, corporate banking, trade finance & remittance opportunities for their respective clients.

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Indian wines popular in the UK, but there’s a long way to go

Experts say the report about the popularity of some Indian wines in the UK is good news for the wine sector, but much more needs to be done to make Indian brands better known abroad

After two years of sluggish growth, the Indian wine industry seems to be on track again. In June wine sales jumped by 30% and now, according to a report in The Guardian newspaper published from London, two Indian wine brands, made from grapes grown in Maharashtra, are increasingly gaining popularity among wine lovers in the UK.

But wine experts say that though the news is good for the Indian wine sector, it has a long way to go before things improve and much more effort is needed.

UK's leading supermarket chain Waitrose Limited showcased two Indian wine brands, Zampa syrah 2008 (a red wine) and Ritu viognier 2010 (white wine), as part of its collection of unusual wines from around world. The report stated that these two brands were popular among wine lovers and were sold at a discounted price of £8.49 for the red wine and the white wine at £6.99.

A wine expert, who did not want to be named, told Moneylife that, "While the news is good for the wine sector, much of this is just hype. The prices of those wines are too high, which won't be sustained. Indian wines have to continue making effort mainly by taking part in wine-tasting festivals across the world through which we can establish a brand name. Last year, the Indian Grape Processing Board took part in London's International Wine Festival in the UK which reaped us some benefit."

He further explained, "To say a particular wine is good or bad, is a task. There are many parameters to judge it. If we want to be known in the international market, wine festivals are an ideal forum. People get a chance to taste the wine, which helps consumers to decide its quality."

Jagdish Holkar, president of the All India Wine Producers' Association, feels that there should be consistency in supplying Indian wines through export. "Previously, many Indian wine brands were exported to the UK. This news is a great achievement for our industry, which is relatively new, though we certainly need more efforts to make the world aware of our wines. We have a great export potential and our wines should be consistently supplied in the international market."

"We have a unique selling point, which is Indian food being served across the globe. And most Indian wines pair well with Indian food, so there is scope of large export."

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