Mahindra & Mahindra, the Indian carmaker, confirmed Tuesday that it had pulled out of a $1bn joint venture with Renault and Nissan to set up a factory near Chennai.
Naandi is one example of the increasingly common intersection of philanthropy and social entrepreneurship in India and south Asia.
At the core of the new joint venture is an attack on Tata Motors, which dominates the commercial vehicle sector in the world's fourth-largest market for heavy trucks.
Vodafone, Bharti Airtel, India's largest mobile operator, and Idea, a smaller rival, have agreed to pool network infrastructure in a joint venture that may in the future seek a stock exchange listing.
A World Bank report released last week projected that remittances to developing countries alone will reach $240bn this year compared to $221bn in 2006, with Asia receiving $114bn.
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