|1|| Industrial Output At 13-Month High In November|
According to the Index of Industrial Production (IIP) data released on Jan 12 2017, Industrial activity rose to a 13-month high of 5.7% in November 2016, belying expectations of an adverse impact from demonetisation. If the trend prevails in the coming months, Advance Estimates of 7.1% gross domestic product (GDP) growth for 2016-17 would not be revised drastically, beating popular perception.
Extracted from BS, Jan 13,’17
|2|| Tenders For NAD Flyover To Be Floated Soon|
According to Vishakapatnam district Collector, Pravin Kumar, tender for NAD crossroads would be floated in a month. The project would cost around Rs.100 crore. The construction would be completed in 18 months.
Extracted from NIE, Jan 11,’17
|3|| IL&FS Plans To Raise Rs1,800 Cr Through Infra Investment Trust|
Infrastructure Leasing & Financial Services (IL&FS) is planning to raise Rs. 1,800 crore through the InvIT route. The money would be raised privately from Indian and foreign investors. The fund will not be listed on the exchanges. All necessary regulatory formalities have been completed.
Extracted from HBL, Jan 10,’17
|4|| Union Government To Set Up Dialysis Centre At Uddanam|
According to the Union health minister, Jagat Prakash Nadda, the union government is to set up a dialysis centre on PPP mode under the Prime Minister's Dialysis Yojna at Uddanam in Srikakulam. Apart from these, an AIIMS has been planned for Mangalagiri in AP and cancer institutes would be set up in 20 states including one in AP.
Extracted from TNN, Jan 10,’17
|5|| Centre Gives Nod To Set Up Mega Food Park In Mandsaur|
The Union Ministry for Food Processing Industry has provided an approval to establish a mega food park at Daloda in dist. Mandsaur, Madhya Pradesh. Meanwhile, the ministry has also accorded approval to six other states to set up such parks.
Extracted from ET, Jan 09,’17
|6|| 15 New Government Colleges To Come Up In Haryana|
The Haryana state higher education department has issued an administrative approval to construct 15 new government colleges in the rural areas of the state. The PWD (B & R) has been requested to invite tenders and start work immediately. The department has also sanctioned Rs 12 crore for construction of each college.
Extracted from TOI, Jan 03,’16
|7|| Exide To Invest Additional Rs 300 Cr In Haldia For Technologically Advanced Two-Wheeler Batteries|
Exide Industries will invest Rs.300 crore at its Haldia facility in dist. East Midnapore. It will be made over an 18month time from April 2017.It will be used to produce new range of two wheeler batteries following technical collaboration with the US based East Penn Manufacturing Company.
Extracted from FE, Jan 02,’17
|8|| Insecticides India Ties Up With Japanese Firm Nihon Nohyaku|
Insecticides India Ltd has tied up with Japan’s Nihon Nohyaku Co Ltd for launching new generation insecticides for different crops under the brand name SUZUKA. IIL plans to introduce one more brand HAKKO, an insecticide for BPH, in paddy crop. It has formulation facilities in Chopanki (Rajasthan), Samba and Udhampur (Jammu & Kashmir) and Dahej (Gujarat).
Extracted from HT, Jan 02,’16
|9|| AP Govt Inks JV Deal To Develop Major Rail Projects|
The Andhra Pradesh government has signed a MoU with the Indian Railways for setting up a JV company for taking up major rail projects in the state. While many new railway lines will be built by the JV, the main objective is to develop at least 21 railway stations on the state akin to airports.
Extracted from ET, Dec 30,’16
|10|| 20 Major Stations Set For Revamp, Auction In January|
Indian Railways is planning to re develop 20 major stations and to invite tenders in Jan’17. The stations will be awarded to private developers under the so-called Swiss challenge method. The Railway Board had appointed Boston Consultancy Group as the strategic advisor for this project.
Extracted from ET, Dec 29,’16
|11|| Telangana Govt Plans To Set Up Industrial Health Clinic|
The Telangana government is planning to set up an 'Industrial Health Clinic' in Telangana. It is to be set up with a corpus fund of Rs 100 crore in which the state's participation would be to the tune of Rs 10 crore. The contribution of industrial associations and other stakeholders would be Rs. 50 crore.
Extracted from BS, Dec 27,’16
|12|| Punjab Plans Bio-Ethanol Plants In All Districts|
According to Punjab Deputy Chief Minister Sukhbir Singh Badal, the government will set up bio ethanol plants in all districts of the state. The establishment of the bio-ethanol plant will benefit both Punjab and the rest of the country, apart from the farming community.
Extracted from HBL, Dec 25,’16
|13|| In-Principle Approval Given For IIT In Raichur|
The Union Government has issued an in-principle approval to establish an Indian Institute of Technology in Raichur. The institute will be established in PPP mode with the Union and State governments and private parties investing in a ratio of 50:25:25 respectively.
Extracted from The Hindu, Dec 15,’16
|14|| Maharashtra To Raise Rs 26,700 Crore For Mumbai-Nagpur Expressway|
Maharashtra State Road Development Corporation (MSRDC) will raise Rs 26,700 crore, half of it from the domestic market, for the 710 km Mumbai-Nagpur super-communication expressway named Samriddhi Marg. The Asian Development Bank (ADB) is expected to provide the remaining Rs 13,750 crore.
Extracted from BS, Dec 13,’16
|15|| India, Canada To Partner In Healthcare|
Canada, a global leader in universal healthcare, is partnering with India to help deliver quality and more accessible healthcare for the Indian masses. Promoting quality healthcare in India will be one of the themes of the first-ever Canada-India Healthcare Summit, to be held in New Delhi early 2017.The summit will also discuss how Canada can bring down its own ballooning costs of universal healthcare by using India's trained medical manpower, expertise in information technology and alternative medicines and its successful generic drugs research and development and manufacturing industry.
Extracted from Newkerala, Dec 12,’16
|16|| 6 Automotive Testing, R&D Centres Coming Up Across Country|
According to Sanjay Bandopadhyaya, Chief Executive Officer of NATRiP, India is on the verge of creating automotive testing, validation and research & development centres at Manesar, Indore in Madhya Pradesh, Chakan in Pune, Ahmednagar, Chennai and Silchar in Asssam with an investment of Rs. 3,720 crore. These centres are at different stages of completions.
Extracted from HBL, Dec 12,’16
|17|| CM Ibobi Singh Inaugurates Food Processing Park In Imphal|
The Manipur Chief Minister, O. Ibobi Singh, has inaugurated the state's first food processing park at Nilakuthi. The total cost of the park is around 45 crores and it has a total of 49 plots of 600 square meters each which are to be allotted to entrepreneurs. The park has facilities like cold storage, warehouse, drainage sewerage and one affluent treatment plant.
Extracted from BS, Dec 06,’16
|18|| Centre Gives Nod To 6 New Ayurvedic Colleges|
The Union ministry of Ayush gave nod to six new Ayurvedic colleges in Gujarat. These include institutes in Gandhinagar, Rajkot, Junagadh, Valsad, Kalol and Pithapur. Meanwhile, the deadline for completion of admissions in Ayurvedic colleges in Gujarat was November 30.However, in the wake of the new colleges given permission the deadline has been extended to December 15.
Extracted from TNN, Dec 03,’16
|19|| Pradhan Proposes Rs 900 Crore 2G Ethanol Plant In Odisha|
The Union Minister, Dharmendra Pradhan, has proposed a 2G Ethanol Plant in dist.Bargarh, Odisha. Approximate cost of the project is around Rs.900 crore. The minister has also suggested the Odisha government to develop Paradip on the lines of Jurong island of Singapore.
Extracted from BS,Dec 02,’16
|20|| India To Invest $20 Billion In Gas Fields In Next 5-7 Years|
According to the Union Oil Minister, Dharmendra Pradhan, India will see an investment of about USD 20 billion in gas field development in the next 5-7 years and is looking to boost usage of the green fuel and double consumption. The investment will be primarily in developing natural gas discoveries by ONGC and Reliance Industries-BP joint venture off the east coast.
Extracted from ET, Nov 30 2016
|21|| India Set To Manufacture $80 Bn Worth Of Mobile Phone Components: Study|
According to IIM Bangalore and market research firm Counterpoint Research, India is set to manufacture $80 billion worth of mobile phone components over the next five years, adding that this will help the country become a global manufacturing hub with advanced local manufacturing.
Extracted from BS, Nov 21,’16
|22|| Hyundai India Eyes 10m Production Mark By 2021|
Hyundai Motor India Ltd plans to produce about three million vehicles over the next five years to reach a milestone of 10 million units by 2021. During Nov,’16, it has marked the production of its 7-millionth car at its factory in Irrungattukottai near Chennai, since it commenced production in India in 1998.
Extracted from HBL, Nov 21,’16
|23|| BSE Opens Regional Office In Shimla|
BSE, Stock exchange platform, has opened its regional office in Shimla in Nov,’16. The office will facilitate query handling, redressal of grievances against trading members and arbitration mechanism. The Investor Services Centre will also play a pivotal role in enhancing and maintaining investors' faith and confidence by resolving their grievances.
Extracted from TNN, Nov 19,’16
|24|| Govt To Develop New And Small Ports To Boost Commercial Shipping: Minister|
According to the Union Minister of State for Shipping, Pon. Radhakrishnan, a number of new and small ports will be developed for commercial shipping transportation in the country. Based on the traffic and cargo scenario of the 12 major ports, a master plan has been prepared for expansion of port capacity, which includes a number of new ports.
Extracted from ET, Nov 17,’16
|25|| Auto Sector Can Generate 6.5 Cr New Jobs By 2026: Maruti|
According to Maruti Suzuki India, Indian automobile industry can contribute over 12 per cent to the country's GDP and generate around 6.5 crore additional jobs over the next decade. Currently, the automobile industry is contributing 7.1 per cent to the GDP of India and around 3.2 crore people are employed directly and indirectly by the sector.
Extracted from DC, Nov 16,’16
|26|| Government To Establish 4,000 Dialysis Centres Across The Country, Says J P Nadda|
According to the Union Health Minister, J P Nadda, the government will set up 4000 dialysis centres across the country. The cost of each bed in a dialysis unit is around Rs 8 to 10 lakhs.
Extracted from BS Nov 15,’16
|27|| POSCO And SAIL Sign MoU On Technical Collaboration For Operational Improvements & HR Development|
POSCO and Steel Authority of India have signed a MoU on technical collaboration for operational improvements and human resource development.
Extracted from ET, Nov 09,’16
|28|| AP To Set Up Commercial Port At Kakinada|
The AP government is to speed up the process of converting the planned captive port into a commercial port at Village Kona in dist. East Godavari. Three berths will be developed in the first phase and four more berths will be developed in the second phase. Estimated cost is around Rs.2000 crore.
Extracted from TNN, Nov 09,’16
|29|| 300 AMRIT Pharmacy Outlets Soon Across Country: Centre|
According to the Union Health and Family Welfare Minister, Anupriya Patel, the Indian government would soon to open 300 pharmacy AMRIT outlets in different parts of the country. On these AMRIT outlets, medicines will be available for the common people at a discount rate of 60-70 per cent.
Extracted from BS, Oct 29,’16
|30|| India's GDP To Grow 8%, Agriculture 4% This Fiscal: Meghwal|
According to the Minister of State for Finance and Corporate Affairs, Arjun Ram Meghwal, India’s economy will grow by eight per cent this fiscal while agricultural growth is expected to be over four per cent.
Extracted from BS, Oct 23,’16
|31|| Rosatom Opens Regional Centre In Mumbai|
Rosatom, Russian state atomic energy corporation, has opened a regional centre in Mumbai, which would coordinate the company's projects in India and Bangladesh. Rosatom are the makers of Kudankulam Nuclear Power in India.
Extracted from ET, Oct 21,’16
|32|| Cochin Shipyard Signs MoU With EIL|
Cochin Shipyard Ltd has signed a MoU with Engineers India Ltd for design and construction of small-scale LNG carriers, under ‘Make in India’ programme. It has also acquired license for the construction of membrane technology of Gaztransport Technigaz, France for the cargo containment systems of large LNG vessels.
Extracted from HBL, Oct 18,’16
|33|| AP Plans Space Innovation Centre At Amaravati|
The Andhra Pradesh State Government in collaboration with the Indian Space Research Organisation (ISRO), is planning a Space Innovation Centre at Amaravati. Such centres will be established as part of the proposal in all universities. Each university will have at least 10 technology-based start-ups to take up innovative research on space science. ISRO has agreed in-principle to provide data free of cost.
Extracted from The Hindu,Oct 09,’16
|34|| Government Panel Clears Three New Airports In Andhra Pradesh|
A government panel has issued 'in principle' approval for new airports at Bhogapuram and Dagadarthi in dist.Nellore and Orvakallu in dist.Kurnool, Andhra Pradesh. Estimated cost of the project is around Rs. 2,376 crore. Besides, the Steering Committee on Greenfield Airports has given site clearance for the proposed aerodrome at Kothagudem in Telengana.
Extracted from ET, Sep 26,’16
|35|| India To Become 3rd Largest Construction Market By 2025: KPMG|
According to KPMG, India is set to become the third largest construction market in the world by 2025 with a size of $1 trillion, thanks to ramped up activity in the roads, buildings, irrigation, urban infrastructure and railways. India is the 4th largest construction market in the world now behind the US, China and Japan.
Extracted from FE, Sep 15,’16
|36|| NALCO Asked To Increase Aluminium Manufacturing Capacity To 20 Lakh Tonne|
The National Aluminium Company Ltd has been asked to raise its aluminium smelter capacity to at least 20 lakh tonne from the present 4.6 lakh tonne per year. It has been advised by the Union Ministry of Mines, Govt. Of India.
Extracted from HBL, Sep 14,’16
|37|| Auto Sector Clocks Robust 26% Growth In August|
According to the Society of Indian Automobile Manufacturers (Siam), domestic sales of PVs (cars, utility vehicles and vans) grew 16.7 per cent from a year earlier, helped by strong performance from Maruti Suzuki, Mahindra, Toyota and Renault.
Extracted from BS, Sep 09,’16
|38|| Organised Jewellery Sector To Grow By 10-12% in FY'17: Report|
According to India Ratings, India's organized jewellery sector is likely to witness 10-12 per cent growth in their top line for the financial year 2016-17 on estimates of increase in wedding and festival sales in coming months. The sector posted flat revenue growth in FY16 and low single digit growth in Q1FY17.
Extracted from BS, Sep 06,’16
|39|| Kerala To Form JV With Railways For Infrastructure Projects|
The Kerala state government has decided to enter into JV agreement with Railways for rail projects in the state under the 51:49 equity methods. The state government has prepared a priority list of rail projects for consideration under the JV agreement.
Extracted from BS, Aug 01,’16
|40|| India's First Textile City Likely To Come Up In AP|
India’s first integrated textiles city is likely to come up in Andhra Pradesh. The central government has already initiated the process of identifying land, technology and expertise for the same. The city would be largely catering to the export market and build a brand for Indian textiles.
Extracted from BS, Aug 29,’16
|41|| Decks Cleared For Inland Waterways Project|
The Andhra Pradesh state government has proposed to take up modernization of waterways connecting Muktyala in Krishna district with Kakinada of East Godavari district at a cost of about Rs 3,200 crore. Preparation of DPR and providing tender documents for setting up Inland Water Transport terminals on the Muktyala - Vijayawada stretch of Phase 1 would be submitted to IWAI shortly.
Extracted from TNN, Aug 26,’16
|42|| To Improve Connectivity, Govt To Set Up 50 Regional Airports In 3 Years|
According to the Union Civil Aviation Minister, Ashok Gajapathi Raju, the union government will set up 50 regional airports over the next three years in the country. Out of which, ten of them would be ready by the end of this year.
Extracted from HBL, Aug 23,’16
|43|| Drug Formulation Market Grows 9.5% In July To Rs 9,125 Crore|
According to AIOCD Awacs, Indian pharmaceutical drug formulation market grew 9.5 per cent to Rs 9,125 crore in July with Indoco Remedies leading the race with 27.8 per cent growth followed by Aristo and Hetero. According to the data, Indian companies grew 10.9 per cent during the month, while MNC pharma companies by 5 per cent with Sanofi leading the pack with 20.6 per cent, followed by AstraZeneca and Janssen.
Extracted from BS, Aug 11,’16
|44|| By 2022 Biofuel Will Become A Rs.50,000-Crore Business|
According to the Union Minister of State (Independent Charge) for Petroleum and Natural Gas, Dharmendra Pradhan, the biofuel business in India is expected to touch Rs.50,000 crore by 2022, based on the demand of petrol and diesel in the country.
Extracted from HBL, Aug 10,’16
|45|| WTCA Eyes Opening More Centres In India|
World Trade Centers Association (WTCA) has said that it is planning to open 4-5 more centres in emerging cities in India as it intends to expand in the Asia-Pacific region. At present it has 20 WTCs across the country.
Extracted from TNN, Aug 02,’16
|46|| Manufacturing Sector Growth Hits 4-Month High In July: PMI|
According to The Nikkei Markit India Manufacturing Purchasing Managers' Index (PMI), the manufacturing sector in India has risen to 51.8 in July from 51.7 in June. This sector has been continuing its uptrend and hit a four-month high in July.
Extracted from TNN, Aug 01,’16
|47|| Amazon India To Expand Hyper-Local Business Beyond Bengaluru|
Amazon India has said that it is excited about the hyper-local e-commerce segment and hinted at expanding its 'Amazon Now' service beyond Bengaluru despite existing players facing multiple challenges.
Extracted from TNN, July 29,’16
|48|| DMIC Trust Approves Rs 6,414 Cr Contracts For Bikdin Project|
The DMIC Trust has given its approval to start the phased procurement of EPC contracts worth Rs 6,414 crore for the Bidkin Industrial Area in Maharashtra. The development is scheduled to be completed by 2020- 21.
Extracted from TNN, July 27,’16
|49|| CCEA Approves Proposal For Rs 17,000 Crore Power Plant In UP|
The Cabinet Committee on Economic Affairs (CCEA) has approved a plan to set up a 1,980 (3*660) MW thermal power plant at Ghatampur in Uttar Pradesh. It will be set up by a JV of Neyveli Lignite Corp and Uttar Pradesh Rajya Vidyut Utpadan Nigam. The estimated project cost is Rs 17,238 crore.
Extracted from ET, July 20,’16
|50|| Singareni Enters Into An MoU With KPCL|
The Singareni Collieries Company Ltd has signed a MoU with Karnataka Power Corporation Ltd for supply of 7 MTPA coal to the three units of Bellary thermal power project and another new unit of Yermarus thermal power station (Raichur) in Bengaluru. The agreement came into effect with immediate effect.
Extracted from The Hindu, July 02,’16
|51|| Oil PSUs To Invest Rs. 6,000 Cr In Assam In FY’17|
According to the Union Petroleum Minister, Dharmendra Pradhan, the public sector oil firms will invest Rs.6000 crore in Assam during the current financial year for EMP, setting up new pipelines, expanding capacities and marketing among others.
Extracted from HBL, June 24,’16
|52|| Karnataka To Set Up 500-Acre Exclusive Township For Japanese Firms: CM Siddaramaiah|
According to Karnataka Chief Minister, Siddaramaiah, the state government will develop an exclusive Japanese International Township (JIT) at Vasantha Narasapur in dist. Tumakuru on 200 acres of land.
Extracted from ET, June 23,’16
|53|| Institute Of Plastic Engineering To Be Set Up In Ukd|
The Uttarakhand Chief Minister and the Union Minister for Chemicals and Fertilizers have signed an agreement to set up a Central Institute of Plastic Engineering and Technology in Uttarakhand. Investment details and location details are yet to be finalized.
Extracted from BS, June 17,’16
|54|| TN To Rope In Private Sector For Osmosis Plants In Tier-2 Cities|
According to K Phanindra Reddy, Principal Secretary, Municipal Administration and Water Supply Department, Govt of Tamil Nadu, the TN government is planning to rope in the private sector to put up tertiary treated osmosis plants at Coimbatore, Madurai, Tiruchi and Tirunelveli.
Extracted from HBL, June 17,’16
|55|| Maharashtra Invites Malaysian Firm To Invest In Road Projects|
The Maharashtra government has held a discussion with Malaysian giant Construction Industry Development Board Holdings to increase collaboration for Nagpur-Mumbai Super Communication Expressway and some other road projects in the state. The Chief Minister has set a target to complete this Expressway by the end of 2019.
Extracted from HBL, June 05,’16
|56|| India To Have 175 m Online Shoppers By 2020|
According to Google and AT Kearney’s Digital Retail 2020’, the total number of online shoppers in India is estimated to grow 3.5 times to touch 175 million by 2020, from 50 million in 2015. The report reveals that, the top 60 million ‘high-value’ customers will contribute to 68 per cent of total spend. Customers from higher income classes who live in Metros and Tier-I cities are more likely to be high value and will account for a similar share of spend.
Extracted from HBL, May 31,’16
|57|| Indian Economy To Grow 7.7% in FY17: Ficci Survey|
According to Ficci's Economic Outlook survey, Indian economy will grow 7.7% in the ongoing fiscal amid likely improvement in the industrial and agricultural sectors' performance on account of good monsoon. It also said that the investment cycle is expected to take at least 6 months to witness a pick-up.
Extracted from BS, May 30,’16
|58|| Tata Group Enters E-Commerce Market|
The Tata Group has made a foray into the Indian ecommerce market through TataCLiQ.com. The venture will sell apparel, electronics and footwear among other products. The site would act as a marketplace for its in-house and partner companies.
Extracted from The Hindu, May 28,’16
|59|| Sports Ministry To Upgrade Stadiums In J&K, Expedite Work On Manipur Sports University|
According to the Union minister, Dr Jitendra Singh, Indian govt. has issued instructions to speed up the up-gradation of sports stadiums at capital cities of Jammu and Srinagar. It has also plans to set up sports centers in other parts of Jammu & Kashmir. The Indian government has earmarked Rs.200 crore for the project.
Extracted from PIB, May 23,’16
|60|| Norms For Residential Institutions Finalized|
The Telangana State Government has finalized the parameters for setting up of 180 out of 250 residential schools and colleges announced by Chief Minister K. Chandrasekhar Rao at the B.R. Ambedkar birth anniversary celebrations last month. The 180 institutions include 100 for SCs, 50 for STs and 30 residential degree colleges, all for boys and girls. The status about remaining 70 was not discussed.
Extracted from The Hindu May 06,’16
|61|| Telangana Seeks Malaysia's Cooperation To Set Up Industrial Parks|
The Telangana state government has sought cooperation from Malaysia in setting up industrial parks in the state. The state has also evinced interest in working with Malaysia in education, innovation, food processing and services sectors.
Extracted from BS, May 04,16
|62|| Govt to Invest Rs 25 Lakh Cr In Infra, Says Gadkari|
According to the Road Transport and Highways Minister, Nitin Gadkari, the union government is expecting investments worth Rs 25 lakh crore in roads, railway and shipping infrastructure over three years, including setting up of 27 industrial clusters at ports at around Rs 8 lakh crore.
Extracted from BS, Apr 30,’16
|63|| 1428 Highways To Be Added In Jharkhand|
The Union Ministry of Road Transport & Highways has issued in principle approval for declaration of new National Highways for a length of 1428 Km in the Jharkhand and the NH may be notified subject to outcome of DPRs of such stretches.
Extracted from Pib, Apr 26,’16
|64|| Govt Working On Proposal To Invest Rs 6,000 Crore On Airports|
The Union government is planning to revive and develop 75 regional airports this fiscal year with an investment of Rs.6000 crore. The civil aviation ministry will soon send a formal proposal to the finance ministry for the project. The project will be implemented by the Airports Authority of India.
Extracted from TNN, Apr 25,’16
|65|| Coal Gasification Urea Plant To Come Up In Chhattisgarh|
According to the Union minister for chemicals and fertilizers, Ananth Kumar, a coal gasification based urea plant with an annual capacity of 1.3 million tonne has been planned for Chhattisgarh. The project will be developed on PPP basis with an investment of Rs. 6,000 crore.
Extracted from BS, Apr 23,’16
|66|| India To Be 2nd Largest Smartphone Mkt|
According to Morgan Stanley research report, India is expected to overtake the US as the second-largest smartphone market next year with robust annual growth. The report on global technology and telecom said that the country's smartphone market will grow at a CAGR of 23 per cent through 2018 and would account for 30 per cent of the global growth during the period.
Extracted from Thehansindia, Apr 23,’16
|67|| India To Become $10 Trillion Economy With 10% Growth By 2032: Amitabh Kant|
According to Niti Aayog CEO, Amitabh Kant, India will become $10 trillion economy and achieve growth rate of 10 per cent by 2032. The country’s growth rate was 7.6 per cent in 2015-16 and its economy worth $1.7 trillion.
Extracted from HBL, Apr 21,’16
|68|| Indian Companies Focus More On Digital Investments Globally: Survey|
According to PwC’s digital IQ survey, Indian companies are focusing more on digital investments in marketing and IT compared to their global counterparts, but less on operations and customer experience. The survey was conducted among 1,988 companies from across the world, including 100 firms from India.
Extracted from HBL Apr 19,’16
|69|| Thyrocare IPO To Open On April 27|
Thyrocare Technologies will hit the capital markets on April 27 to raise funds through an IPO. The IPO is scheduled to close on April 29, according to the red herring prospectus.
Extracted from HBL, Apr 18,’16
|70|| Government Plans To Set Up Bulk Drugs Manufacturing Hubs|
The union government is planning to set up three or four pharma parks to manufacture API in India. Each park is estimated to cost about Rs. 200 crore. Other details are yet to be finalized.
Extracted from ET, Apr 18,’16
|71|| Textile Sector In Northeast Gets A Rs.1,038 Cr Push|
The Union government has undertaken a Rs.1,038 crore scheme to boost textile exports in the northeast region of India. Funded by the union Ministry of Textiles under NERTPS, the project is also aimed at developing and modernizing the textile sector by providing region-specific flexibility in execution.
Extracted from ET, Apr 15,’16
|72|| Fitch Pegs India's Growth At 7.7% in FY17|
According to India-Global Economic Outlook (GEO) Forecast by Fitch Ratings, India’s growth is expected to gradually accelerate to 7.7 per cent in FY 2017 and 7.9 per cent in FY18. It also expects another 25 bps of monetary policy loosening, facilitated by the government's recent announcement to maintain its fiscal targets for FY17 and FY18.
Extracted from BS, Apr 12,’16
|73|| India, Iran To Seal Farzad-B Gas Project By October|
India and Iran will seal ‘development, financial and commercial’ terms to develop the prolific gas project, Farzad B, in the Persian Gulf by a consortium of New Delhi-based explorers led by ONGC Videsh latest by October 2016.
Extracted from IE, Apr 11,’16
|74|| Textiles Minister Inaugurates Apparel and Garment Making Unit In Tripura|
The Union Textiles Minister, Shri Santosh Kumar Gangwar, has inaugurated the apparel and garment making unit at Bodhjungnagar Industrial Growth Centre, Agartala in Apr’16. He has also laid the foundation stone for the hostel for trainees in Bamboo and Cane Development Institute in Lichubagan, Agartala.
Extracted from PIB, Apr 08,’16
|75|| Fairfax India To Invest $300m In Sanmar Chemicals|
Fairfax India Holdings Corp, part of Canadian billionaire Prem Watsa’s Fairfax Holdings, has said that it would invest $300 million in privately held Indian petrochemical company Sanmar Chemicals Group through a combination of equity and fixed-income securities. It will have a 30 per cent equity ownership in Sanmar following the investment.
Extracted from HBL, Apr 08,’16
|76|| India Close To Achieving 8% GDP Growth: Panagariya|
According to Arvind Panagariya, vice-chairman of the NITI Aayog, India is close to achieving eight per cent annual growth in GDP, on the back of good infrastructure development. However, he pointed that the banking reforms and job creation are the two biggest current challenges.
Extracted from BS, Apr 05,’16
|77|| EMC Corporation Launches Second Center Of Excellence In India|
EMC Corporation, American enterprise software firm, has launched a Center of Excellence in Pune, its second such centre in India after the one set up in 2007 in Bengaluru. It is designed to be complementary to the Bengaluru centre and takes the company's headcount to almost 6,000 employees in India.
Extracted from ET, Apr 04,’16
|78|| Manufacturing Growth Hits 8-Month High In March: PMI|
According to Nikkei India Manufacturing Purchasing Managers’ Index, India’s manufacturing sector performance is estimated at an eight-month high in March because of improved demand from domestic and export markets.
Extracted from HBL, Apr 04,’16
|79|| Govt Plans To Achieve 20,000 MW Of Solar Production By 2017: Goyal|
According to The Union Power Minister, Piyus Goyal, the government is planning to achieve 20,000 MW of solar production by 2017. The ministry has already bid out 19,000 MW of solar energy projects and the installed capacity of 20,000 MW would be achieved as early as 2017. Further, the union government has set a target of 1, 00,000 MW solar power by 2022.
Extracted from BS, Apr 03,’16
|80|| Govt. To Open 120 Residential Schools For Minorities|
The Telangana state government has decided to open 120 residential schools in two phases for the welfare and upliftment of minorities in the state. It would open 70 minorities’ residential schools in temporary accommodation during the year 2016-17. Each residential school would be constructed at a cost of Rs. 20 crore on a sprawling five to 10 acres of land.
Extracted from The Hindu Apr 02,’16
|81|| German Development Bank KfW Provides Rs 3,750 Crore Loan For Nagpur Metro Rail Project|
Nagpur Metro Rail Corporation Limited is executing a new sustainable metro system for Nagpur City with an investment of Rs. 8,680 crore. KfW, German government's development bank, will provide a loan assistance of Rs 3,750 crore for the project. Physical work on the two lines commenced in May 2015 and the entire Metro would be operational by March 2019.
Extracted from ET, Apr 01,’16
|82|| Agri Growth May Jump To 6% In Fy17: Niti Aayog|
According to NITI Aayog member, Ramesh Chand, Agriculture growth could jump to 6 per cent in year 2016-17 from 1.2 per cent, at present, if monsoon turns out to be normal. India Meteorological Department is expected to release its monsoon forecast during last week of April.
Extracted from BS, Mar 31,’16
|83|| SCCL Plans Capex Of Rs 20k Cr, To Open 20 Mines In 5 Years|
Singareni Collieries Company Ltd is planning to open about 20 new mines in the next five years with a capex of Rs 4,000 crore, which is part of an overall investment plan of Rs 20,000 crore earmarked for fresh acquisitions. Of this, 10 new projects will be opened up in the beginning of next financial year.
Extracted from FE, Mar 26,’16
|84|| Energy, Logistic Varsities To Start Functioning From 2017|
According to the Andhra Pradesh Chief Minister, N Chandrababu Naidu, the proposed energy university, at Penugonda in dist.Ananatapur and Logistics University at Kakinada, will start functioning from the next academic year. Energy University will be established on 150 acres of land and later will come up on 90 acres of land.
Extracted from NIE, Mar 26,’16
|85|| TANGEDCO Sets Up Centre To Tap Renewable Energy|
Tangedco has started a Renewable Energy Management Centre (REMC) to handle wind energy and solar power by coordinating with the State Load Despatch Centre (SLDC). The REMC’s role will be to forecast and schedule the wind energy patterns, normally treated as ‘infirm’ energy.
Extracted from The Hindu, Mar 26,’16
|86|| India, France Sign MoU For Construction Of Six Nuclear Reactors At Jaitapur|
Electricite de France (EDF - French public utility) and National Power Corporation of India Ltd (NPCIL) have signed a MoU for the construction of 9900 MW nuclear power plant at Jaitapur in Maharashtra. The plant will consist of 6 European Pressurised Reactors of 1650 MW each.
Extracted from ET, Mar 23,’16
|87|| Major Logistics Centre To Come Up In Amaravati|
The Andhra Pradesh state government will develop a major logistics centre in Amaravati. The proposed centre, which will be based on rail, road, air and water transport connectivity, is likely to come up in Tadepalle mandal in dist. Guntur.
Extracted from NIE, Mar 23,’16
|88|| Common Facility Centre For Plywood Industry In Haryana|
According to Haryana Industries Minister, Captain Abhimanyu, a common facility centre for plywood industry will be built at an estimated cost of Rs 16.87 crore with assistance from the Centre and Indian Plywood Industries Research and Training Institute, Bengaluru.
Extracted from BS, Mar 22,’16
|89|| Medical Devices Market Likely To Grow To $8.6 Billion by 2020|
According to Deloitte and NATHealth, the domestic medical devices market is estimated to grow organically at 15% to $8.6 billion by 2020 and industry estimates indicate a much larger potential to grow to $50 billion by 2025.
Extracted from BS, Mar 20,’16
|90|| Tata Steel Expects Rs 20,000 Crore Investment In Gopalpur SEZ|
Tata Steel is in discussion with foreign companies for investments up to Rs 20,000 crore in heavy industries over the next five years at its Gopalpur SEZ in Odisha. Talks are at various levels. The investment will be in defence, metal downstream and electronics as well as chemicals and pharmaceuticals among others.
Extracted from ET, Mar 19,’16
|91|| German SMEs To Invest Rs 3,000 Crore To Set Up Projects In India|
German SMEs have pledged to invest over Rs 3,000 crore for the 'Make in India' initiative for setting up of new manufacturing plants and projects. The investments will result in setting up of 15 new manufacturing plants, 6 expansion projects and 2 pilot projects covering the states of Maharashtra, Gujarat, Karnataka and Tamil Nadu.
Extracted from ET, Mar 18,’16
|92|| HPCL, GAIL Shortlist Three Sites In Andhra Pradesh For 15MT Refinery|
According to the union Oil Minister, Dharmendra Pradhan, HPCL and GAIL have shortlisted three sites in Andhra Pradesh for setting up a 15 million tons integrated refinery cum petrochemical complex in AP. The project schedule would depend on completion of detailed feasibility report, financial appraisal of the project and subsequent approvals.
Extracted from ET, Mar 14,’16
|93|| Government To Award Rs 3L-Crore Highway Contracts By May 2017: Nitin Gadkari|
According to the Union Minister, Nitin Gadkari, the union government is planning to award contracts worth Rs 3 lakh crore by May 2017. Besides, The Road Transport and Highways Ministry has awarded contracts worth Rs 1.5 lakh in the last over one-and-a-half year.
Extracted from ET, Mar 11,’16
|94|| JKSPDC To Start 66 Power Projects In Seven Years|
The Jammu and Kashmir State Power Development Corporation (JKSPDC) is planning to start 66 power projects with a total capacity of over 7,600 MW in the next seven years. The process of revising the PDC's existing IPP policy is underway to make it more attractive to prospective investors.
Extracted from BS, Mar 11,’16
|95|| Centre To Sign Pacts Worth Over Rs.72,000 Cr At Shipping Summit|
The Union government is expected to sign agreements worth over Rs. 72,000 crore with private players on port-related projects at the Indian Maritime Summit to be held in Mumbai during April 14-16. The sectors identified for investment include ship-building, ship repair and recycling, port modernization, new port development and multi-modal logistic hubs among others.
Extracted from The Hindu, Mar 10,’16
|96|| Centre Plans To Set Up More Nuclear Power Plants|
According to the Union minister, Jitendra Singh, the central government is planning to increase nuclear power generation capacity by three times in ten years. To achieve the target, it plans to set up nuclear power plants in Patiala (Punjab), Dehradun (Uttarakhand) and Bulandshahr (Uttar Pradesh).
Extracted from TNN, Mar 02,’16
|97|| Patnaik Announces Setting Up Of Medical College In Keonjhar|
The Odisha Chief Minister, Naveen Patnaik, has announced that the state government is setting up a medical college in dist. Khojhar at an investment of Rs.500 crore. This would be fourth government run medical college in the state. Earlier, it had set up medical colleges at Cuttack, Berhampur and Burla in Sambalpur districts.
Extracted from BS,’ Mar 01,’16
|98|| Centre To Invest Rs 25,000 Crore On Transportation In Assam|
According to the Union Road Transport and Highways Minister, Nitin Gadkari, the union government is planning to invest Rs 25,000 crore for developing roads, bridges and waterways in poll-bound Assam over the next 2-3 years. It will be through NHAI, PWD and NHIDCL.
Extracted from TNN, Feb 27,’16
|99|| Bigbasket Enters Vizag|
Bigbasket - the online supermarket has entered Visakhapatnam in Feb’16. It offers one-stop online shopping for quality products and fresh products at competitive prices. It has already entered Vijayawada and Guntur in Andhra Pradesh and Visakhapatnam was the third centre in the state.
Extracted from HBL, Feb 25,’16
|100|| Andhra Pradesh Registers 10.5% GSDP Growth|
According to Andhra Pradesh Chief Minister, N Chandrababu Naidu, the state has registered a growth rate of 10.5% in Gross State Domestic Product (GSDP) in the current fiscal despite severe financial constraints. Further, the state is aiming for 15% growth in 2016-17.
Extracted from FE, Feb 23,’16
|101|| Smart Cities: Madhya Pradesh, Rajasthan Take Lead in Setting up SPVs|
According to the Union Ministry of Urban Development, Madhya Pradesh and Rajasthan states formed SPVs for the implementation of smart city plans. SPVs have been set up for Jabalpur, Indore and Bhopal in Madhya Pradesh and Jaipur & Udaipur in Rajasthan. The remaining 15 cities will form SPVs in the next two weeks.
Extracted from HBL, Feb 20,’16
|102|| Indian Economy To Grow Robustly At 7.4% Next Fiscal: OECD|
According to The Organisation for Economic Cooperation and Development’s (OECD) Interim Economic Outlook report, India will continue to grow robustly, by 7.4 per cent in 2016 and 7.3 per cent in 2017. Meanwhile, OECD said that with China expected to continue rebalancing its economy from manufacturing to services, growth is forecast at 6.5 per cent in 2016 and 6.2 per cent in 2017.
Extracted from BS, Feb 19,’16
|103|| Foodgrain Output Likely To Increase To 253 MT In 2015-16|
According to the union Agriculture Minister, Radha Mohan Singh, India's foodgrain production is estimated to increase marginally to 253.16 million tonnes in 2015-16 crop year on likely improvement in output of wheat and pulses despite back-to-back drought. The estimate is, however, lower than the record 265.04 million tonnes (MT) in the 2013-14 crop year (July-June), but slightly better than 252.02 MT achieved last year.
Extracted from BS, Feb 15,’16
|104|| China Keen To Set up SME Park In State|
Hunan, a province of China, is planning an industrial park comprising small and medium enterprises (SMEs) in Telangana. The province required a land of 2,000 to 2,500 acres for setting up the industrial park.
Extracted from NIE, Feb 14,’16
|105|| Sterlite, Ascendas And Others To Invest Rs 4 Lakh Cr In Maharashtra|
The Maharashtra state government expects investment intentions of Rs 4 lakh crore- including Rs 20,000 crore from Sterlite, Rs 10,000 crore from Siemens, Rs 10,000 crore from Ascendas, Rs 6,500 crore from Posco, Rs 4,000 crore from M&M, Rs 2,500 crore from Hiranandani Group, Rs 2,500 crore from SKIL Infrastructure, Rs 1,500 crore from Raymond and Rs 1,000 crore from Mercedes India. These investment proposals will be in IT and ITES, integrated industrial parks, power transmission and distribution, steel, textiles and semiconductor fabrication.
Extracted from BS, Feb 13,’16
|106|| IFC, Odisha Government Partner To Develop Speciality Hospitals|
IFC, the investment arm of the World Bank Group along with the Odisha government is planning to develop 12 hospitals (50-200 beds each) in the state. The project will be implemented through PPP mode. The project is expected to attract private investments worth $30-50 million.
Extracted from ET, Feb 08,’16
|107|| Mobile Phones Production In India Might Reach 500 Mn In 2 Years|
According to Telecom Secretary J S Deepak, mobile phone manufacturing in India might reach 500 million units in two years, on the back of good base of talent and an incentive policy. This year, India has produced 100 million phones, compared with 45 million last year.
Extracted from BS, Feb 08,’16
|108|| ITC To Announce 3 Projects In WB|
ITC Ltd will start two food projects at Panchla and Uluberia in Howrah and also an IT project at Rajarhat in West Bengal next week. Approximate cost of the project is more that Rs.3,000 crore.
Extracted from The Hindu, Feb 07,’16
|109|| W. Bengal Plans To Set Up 'Mega' Food Processing Park|
According to Amit Mitra,West Bengal State Minister for Finance, Commerce and Industries, the state government is planning a mega food processing park in the state. It has identified 61 acres of contiguous land for the proposed project.
Extracted from HBL, Feb 05,’16
|110|| Govt Plans 20 Textile Parks To Boost Industry|
According to Union minister, Santosh Gangwar, the union government is in talks with Uttarakhand and some other states to set up 20 textile parks to boost the industry. He added that the areas where these parks are set up will become industrial hubs.
Extracted from ET, Feb 01,’16
|111|| FM Likely To Announce 4 Major Ports In Budget|
The Union Finance Minister, Arun Jaitley, is likely to propose four new major ports to be constructed, in the Budget for 2016-17. These ports would be at Dahanu (Andhra Pradesh), Colachel (Tamil Nadu), Sagar (West Bengal) and Dugarajapatnam (Andhra Pradesh) at an estimated cost of Rs 32,000 crore.
Extracted from BS, Feb 01,’16
|112|| Grasim To Spend Over Rs 4,000 Crore On Capex In FY17|
Aditya Birla Group firm Grasim Industries is planning to invest Rs. 3,800 crore capex in the 2016-17 fiscal on its subsidiary, cement maker Ultratech, it will pour in Rs 255 crore in its VSF and chemicals business during the same period. The firm said it will spend a total of Rs 4,055 crore on capex in fiscal 2016-17 onward against 2,590 crore in 2015-16 and Rs 6,645 crore till March 2015.
Extracted from ET, Jan 31,’16
|113|| TVS Motor To Set Up Subsidiary In Hong Kong|
TVS Motor has received in-priniciple approval from the board of directors to invest a sum not exceeding 10 million Hong Kong dollars for establishment of a wholly-owned subsidiary in Hong Kong. Details of the proposed subsidiary will be finalized and submitted for ratification by the board of directors in course of time.
Extracted from BS, Jan 29,’16
|114|| Railways To Build 500 Private Freight Terminals In 3 Years|
According to the Union Minister of State for Railways, Manoj Sinha, Indian Railways is aiming to build 500 private freight terminals (PFT) in next three years under PPP model in India. Currently there are 27 PFT’s in the country. Further, to attract more investment in rail sector, the central government is working on liberalizing its policies.
Extracted from BS, Jan 27,’16
|115|| Ministry of Shipping To Invest Rs 14k cr On Various Port Projects|
The union ministry of shipping is planning to enhance the capacity of major ports in India with an investment of Rs.14K crore. Earlier, 2014-15, 26 investment projects with an investment of Rs 10,543 crore and capacity of 155 MTPA (million tonnes per annum) were approved. During 2015-16, a total of 30 projects are to be awarded, which will involve capacity enhancement by 162 MTPA.
Extracted from BS, Jan 27,’16
|116|| India Steel Production Rises By 2.6% In 2015|
According to World Steel Association (WSA) report, India is the only country recorded a positive trend among major steel producing countries such as China, Japan, South Korea and the US in steel production and consumption in 2015. The report further said that India world’s third largest steel producer rose 2.6% in 2015 to 89.6 million tonne (MT), against 87.3 MT in 2014.
Extracted from Livemint, Jan 27,’16
|117|| Gionee Plans To Open Exclusive Retail Stores In India|
Gionee, Chinese phone maker, is planning to open exclusive stores in India. It would file application with the Department of Industrial Promotion and Policy (DIPP) in the coming weeks.
Extracted from TNN, Jan 26,’16
|118|| Government Grants Final Approval For Setting Up NIMZ In Telangana|
The Indian government has provided its final approval to set up a national investment and manufacturing zone (NIMZ) in dist. Medak,Telangana. NIMZs are mega industrial zones or integrated townships with world class supporting infrastructure. It will attract investment of around Rs 17,300 crore.
Extracted from ET, Jan 22,’16
|119|| Economy May Grow At 7.9% Next Fiscal: India Ratings|
According to India Ratings & Research(Ind-Ra), the Indian economy is expected to grow by 7.9 per cent in the next fiscal and may progress at a similar pace over a couple of years extending beyond 2019. Ind-Ra expects the GDP to expand at 7.9 per cent in 2016-17 compared with 7.4 per cent in 2015-16.
Extracted from HBL, Jan 18,’16
|120|| MoUs For Renewable Energy Projects To Be Signed At AP Partnership Summit|
The Andhra Pradesh state government will sign MoUs for projects worth of over Rs 1 lakh crore investments in renewable energy and infrastructure sectors on the opening day of the three-day CII Partnership Summit starting from January 10,’16 at Visakhapatnam.
Extracted from BS, Jan 07,'16.
|121|| India To Grow At 7.8 Per Cent This Year: World Bank|
According to World Bank’s latest Global Economic Prospect report, India is projected to grow by a robust 7.8 per cent this year and 7.9 per cent in the next two years. The report further said that China is estimated to grow at 6.7 per cent in 2016 and 6.5 per cent each in 2017 and 2018. The growth rate projection is 0.3 per cent in 2016 and 0.4 per cent in 2017.While Russia and Brazil is expected to remain in recession in 2016.
Extracted from DC, Jan 07 2016
|122|| Government Plans Rs 500 Crore Pharma Technology Upgradation Fund|
The union government is planning to set up a Rs. 500-crore Pharma technology upgradation fund which will facilitate cheaper loans to entities looking to upgrade their manufacturing facilities. Besides this, the Department of Pharmaceuticals is already working on a proposal to establish a venture capital fund with a same corpus to provide cheaper loans to small and marginal companies planning to set up new units.
Extracted from ET, Jan 06,’16
|123|| Government Framing Policy To Set Up 12 Petrochemical Complexes|
According to the Union Fertilizer Minister, Ananth Kumar, the government is working on a policy to establish 12 more petrochemical complexes in order to have one complex in each 16 refineries in the country. At present, there is one each PCPIRs or petrochemical complexes in Gujarat, Andhra Pradesh, Odisha and Tamil Nadu.
Extracted from ET, Jan 04,’16
|124|| E-Commerce Revenue May Touch $38 Bn In 2016: Assocham|
According to Assocham, India's e-commerce market is likely to touch $38 billion mark in 2016, a massive jump over the $23 billion revenues clocked by the industry in 2015. It also said that the mobile commerce (m-commerce) is growing rapidly as a stable and secure supplement to the e-commerce industry.
Extracted from Business Today, Jan 01,’16
|125|| IndianOil, Oil India sign MoU with Rosneft|
Indian Oil Corporation and Oil India Ltd have signed a memorandum of understanding with Russian national oil company Rosneft for cooperation in geologic survey, exploration and production of hydrocarbons in select onshore areas in Russia.
Extracted from HBL, Dec 25,’15
|126|| Foxconn may invest $4bn for its facility in Sanand|
Foxconn Technology, world's largest contract manufacturer of electronic items, is in advanced talks with the Gujarat state government to set up its manufacturing unit in Sanand, Gujarat. It is likely to pump in $4 billion (around Rs 25,000 crore) for the proposed project.
Extracted from TNN, Dec 24,’15
|127|| Nalco inks R&D pact with Chalieco of China|
Nalco has signed with Chaleico of China, for research and development (R&D) cooperation in the fields of mutual interest. Under the pact, the two companies would be separating iron concentrate from red mud and extracting gallium from bayer liquor. On successful completion of the project, the efforts will be commercialized through a demonstration plant.
Extracted from HBL, Dec 23,’15
|128|| Government plans to award Rs 28,000 crore worth of highways development projects in FY16|
The Indian government is planning to award Rs. 28,000 crore worth highways development projects in the current fiscal under the newly conceived hybrid annuity model amid renewed interest among private firms. This will be the largest investment under PPP in the sector in any single year since 2010. A total of 21 projects will be awarded under this model in the current financial year. Further, in the next year, it is likely to double the target.
Extracted from ET, Dec 21,’15
|129|| DBS opens new subsidiary in India|
DBS Bank has opened a new wholly owned subsidiary called DBS Asia Hub 2 Pvt Ltd in Hyderabad, India on Dec 19,’15. It will provide “technology-related" services to the banking group. It has set up at an initial capital of Rs. 70.5 crore
Extracted from ET, Dec 21,’15
|130|| India ranks 97th on Forbes best countries for business list|
According to Forbes’ annual list of the best countries for doing business in 2015, India has been ranked a low 97th out of 144 nations, behind Kazakhstan and Ghana. Denmark topped the list of the 144 nations and the US has dropped four spots to number 22, continuing a six-year descent since 2009 when it had ranked second overall.
Extracted from HBL, Dec 17,’15
|131|| New medical colleges to come up in 58 districts: JP Nadda|
According to the Union Health and Family Welfare Minister, JP Nadda, the union government will set up new medical colleges in 58 districts across the country. These medical colleges are being established under a centrally sponsored scheme for 'Establishment of Medical Colleges attached with existing District/Referral hospitals'.
Extracted from ET, Dec 15,’15
|132|| HRD Ministry ties up with Tata Group firms to set up IIITs under PPP mode|
The Union Human Resource Development (HRD) Ministry has signed a MoU with Tata Consultancy Services, Tata Motors, M/s ADCC Infocad, Nagpur and M/s Hubtown, Mumbai to set up three Indian Institutes of Information Technology (IIITs) in Ranchi, Nagpur and Pune on public-private partnership (PPP) mode. With this, the total number of IIITs on the PPP mode has gone up to 16, leaving 4 more to be set up for which scheduled has been fixed in the month of January 2016.
Extracted from ET, Dec 12,’15
|133|| Govt to set up pharma, medical devices parks|
According to Union Fertilizers Minister, Ananth Kumar, to boost the domestic pharmaceutical industry, the government is working on setting pharma products and medical devices parks in the country. He also added that the first ever medical devices park will be established soon.
Extracted from BS, Dec 11,’15
|134|| Telangana to develop 500-acre industrial park for Chinese firms|
The Telangana state government is planning to establish an industrial park exclusively for Chinese companies on 500 acres of land in the state. It has decided to allocate the land for the same.
Extracted from HBL, Dec 06,’15
|135|| Indian nutraceuticals market to double to $6 bn by 2020: Study|
According to the report titled 'Emerging Indian Nutraceutical' Market', by the industry body Assocham and business consultancy services firm RNCOS, the Indian nutraceuticals market is estimated to be USD 2.8 billion at present and is projected to touch to $6.1 billion by 2020 as consumers become more conscious towards health and fitness.
Extracted from BS, Dec 06,’15
|136|| Inland waterways: Government setting up 30 water ports on the Ganga; Nitin Gadkari calls it game-changer|
According to the Minister of Road Transport and Highways, Nitin Gadkari, the union government is planning to set up 30 water ports on the Ganga as inland waterways, will be a "game- changer" for increasing exports and reducing cost of goods as well as passenger traffic in the country.
Extracted from ET, Dec 05,’15
|137|| Centre to set up 12 petrochemical complexes |
According to Ananth Kumar, Union Fertilizer Minister, the government is working on a policy to establish 12 more petrochemical complexes in order to have one complex in each 16 refineries, a move which could entail few lakh crore of investment.
Extracted from The Hindu, Dec 05,’15
|138|| Government has received Rs 1.13-lakh crore electronic manufacturing proposals|
According to the Union Telecom Minister Ravi Shankar Prasad, the government has received156 proposals with investment of over Rs 1 lakh 13 thousand crore in the electronics manufacturing segment from major brands under the modified special incentive package scheme (M-SIPS). M-SIPS has been extended till July 2020, which was earlier valid till July 2017.
Extracted from ET, Nov 30,’15
|139|| Govt keen to set up R&D centre for telecom products|
According to Union Telecom and IT Minister Ravi Shankar Prasad, the union government is keen on setting up a research and development (R&D) centre for testing of standards, methods, and certifications by high level of expertise. To be called National Accreditation Board for Telecom (NABT), it would have management body consisting of telecom experts to take care of specific and growing needs of both telecom and IT sectors.
Extracted from HBL, Nov 25,’15
|140|| Cochin Shipyard plans to raise Rs 600-700 cr|
Cochin Shipyard is planning to raise Rs 600-700 crore to support its Rs. 2,500 crore investment in the ship repair facility and a new dry dock. Earlier, government has approved the sale of a 10 per cent stake in Cochin Shipyard to restart its disinvestment programme.
Extracted from BS, Nov 21,’15
|141|| Ikea to build smaller stores in India|
Ikea, the world’s biggest furniture retailer, is planning smaller stores in India. Typically, an Ikea store spreads over 350,000 square feet on a land of 10-15 acres. It has a two-level building with parking space for at least 1,500 vehicles, either in front of the building or under the building, depending on the land prices. The company has got an approval to invest Rs.10,500 crore for its India expansion.
Extracted from FE, Nov 17,’15
|142|| Rajasthan Government Inks 37 MoUs for Tourism Sector|
According to S K Agrawal, Principal Secretary Tourism – Rajasthan, the state government has signed 37 MoUs worth Rs. 2,349 crore with investors in tourism sector. The MoUs signed were for setting up of hotel, resort, and museum, among others and will create job opportunities for over 6,000 persons.
Extracted from NIE, Nov 16,’15
|143|| Chhatisgarh signs MoUs worth Rs 1,093 on single day|
The Chhattisgarh Government has signed as many as 11 MoUs worth Rs 968 crore on a single day with 11 investors for manufacturing electronic components in the Electronic Manufacturing Cluster coming up in Naya Raipur. Another MoU of Rs 125 crore was signed in Food Processing Sector for establishment of cold chain in the state.
Extracted from Dailypioneer, Nov 06,’15
|144|| State to build new super expressway between Mumbai and Nagpur|
According to Maharashtra Minister of Textile and Public Works, Chandrakant Patil, the state government is going to build a six lane super expressway between Nagpur and Mumbai. The state has entered in to a pact with the centre to construct these roads and their endeavor would be to complete the road within three years.
Extracted from ET, Nov 05,’15
|145|| India to see average economic growth of 8.8% in next decade: D&B|
According to Dun & Bradstreet, India’s economic landscape is expected to undergo a major transformation over the next decade and is likely to achieve an average growth rate of around 8.8 per cent. The report further said that the services sector would continue to drive India’s growth momentum and the industrial sector is expected to witness double-digit growth.
Extracted from FE, Oct 29,’15
|146|| Feasibility study on road to Talaimannar soon|
According to the Union Minister of State for Transport, Highways and Shipping, Pon. Radhakrishnan, the union government will soon carry out a feasibility study on establishing a road link between Rameswaram and Talaimannar in Sri Lanka. The government had begun consultations to carry out a feasibility study on various aspects of the project.
Extracted from The Hindu, Oct 25,’15
|147|| Telangana lines up Rs 405-crore plan for water supply in 11 cities|
The Telangana state government has proposed to enhance water supply in 11 cities under AMRUT (Atal Mission for Rejuvenation and Urban Transformation) in this financial year. The total plan outlay proposed for this financial year under AMRUT is Rs 415.51 crore. The government has submitted its state annual action plan (SAAP) in this regard to the Urban Development Ministry for consideration and approval.
Extracted from ET, Oct 24,’15
|148|| Water and sewerage plans worth Rs 2,786 crore in 89 AMRUT cities approved|
The Indian Urban Development Ministry has cleared plans worth over Rs 2,700 cr in 89 cities under Atal Mission for Rejuvenation and Urban Transformation (AMRUT). Sewerage projects got a lion share of Rs 1,471.07 cr followed by Rs 1,225 cr for water supply related schemes. These projects are coming up in the states of Andhra Pradesh, Gujarat and Rajasthan.
Extracted from ET, Oct 23,’15
|149|| Indian media & entertainment sector set to quadruple by 2025|
According to Boston Consulting Group and the Confederation of Indian Industry, the Indian media and entertainment sector could grow more than four times over the next decade with digital media playing a key role. The report said that the industry is projected to grow to between Rs 380,000 crore and Rs. 500,000 crore by 2025.
Extracted from Vccircle, Oct 23,’15
|150|| Government plans Rs 5000-crore mega port in Tamil Nadu to reduce dependence on Colombo, Singapore ports|
The Indian government is planning to build 1 million twenty equivalent unit (TEUs) mega transhipment hub near Tuticorin in Tamil Nadu with an investment of Rs. 5000 crore. The capacity may be increased by four times in phases in coming years. The government is also planning five new ports in West Bengal, Maharashtra, Tamil Nadu, Karnataka and Andhra Pradesh with an investment of Rs.25000 crore. The government is getting the detailed project reports prepared for the same.
Extraxcted from ET, Oct 22,’15
|151|| India Value Fund to invest up to $150 million in food business|
India Value Fund Advisors (IVFA), a Private Equity firm, is planning to invest between $100 and 150 million (about Rs 640 - Rs 970 crore) in the food business over the next two years. The firm is looking to back mid-size businesses in food business with focus on supply chain and ingredient business, packaged food business and food services business.
Extracted from ET, Oct 20,’15
|152|| Government considering proposal to build a new Greenfield expressway|
According to Nitin Gadkari, Union Road Transport and Highways Minister, the government is planning a 261 KM Greenfield expressway between Delhi and Jaipur. Around 2800 hectares need to be acquired for the project and the land acquisition will be the tune of Rs. 18,000 crore. Approximate cost of the project is around Rs.32,800 crore.
Extracted from BS, Oct 15 2015.
|153|| Rajasthan signs MoUs worth Rs 12,478 cr|
The Rajasthan state urban development and housing (UDH) department has signed MoUs worth Rs 12,478 crore ahead of the Resurgent Rajasthan. It is expected that employment for over 38,950 people will be generated and investments will provide a boost to urban development, tourism and social development sectors in the state.
Extracted from TNN, Oct 14,’15
|154|| Industrial production growth at a 3-year high of 6.4% in August|
According to Central Statistics Office (CSO), Industrial production in India has increased 6.4 per cent in August 2015. Production in the mining, manufacturing and electricity sectors grew at 3.8 per cent, 6.9 per cent and 5.6 per cent, respectively, in August as compared to the previous year period. Fifteen out of the 22 industry groups in the manufacturing sector have shown positive growth during August 2015 compared to the corresponding month of the previous year.
Extracted from Domain b.com, Oct 12,’15
|155|| AP signs MoUs for projects worth over Rs. 1,200 crore|
The Andhra Pradesh state government has said that it has signed eight MoUs which would bring investments of over Rs. 1,200 crore. Proposals involve setting up of an amusement park and water world parks at Vijayawada, Tirupati and Visakhapatnam at an estimated cost of Rs. 800 crore. Besides, four investor firms have been given provisional registration certificates for their proposed hotel projects.
Extracted from The Hindu, Oct 12,’15
|156|| All food parks will be operational in next 3 years: Harsimrat Kaur Badal|
According to the Union Minister, Harsimrat Kaur Badal, all the 42 mega food parks sanctioned by the government will be fully operational in the next three years. Five parks are fully functional so far, of which the last three became commercial in the past one year, and rest of the parks are in various stages of completion.
Extacted from ET, Oct 09,’15
|157|| India to be in Top-3 pharma manufacturing countries by 2020: Study|
According to TechSci Research Report, India is expected to be in top three pharmaceutical manufacturing countries with a turnover of $55 billion by 2020. The report was released at the Assocham and Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers conference on intellectual property rights (IPR) in pharmaceuticals in Ahmedabad.
Extracted from BS, Oct 07,’15
|158|| India’s solar installations set to quadruple in two years|
According to the Indian Ministry of New and Renewable Energy, India has installed solar capacity of 4,262 MW, of which 518 MW were built in the current financial year. MNRE expects 4,345 MW of fresh capacity to come up in 2015-16 (including the 518 MW achieved so far.) Further, going by the bids on the anvil, the government expects to add 10,859 MW in 2016-17 alone.
Extracted from Panchabuta, Oct 07,’15
|159|| India to grow at 7.5% in FY17, faster than China: IMF|
According to IMF’s latest World Economic Outlook Update, Indian economy is expected to grow faster than other major emerging economies, projecting a growth rate of 7.5 per cent for India in 2016 as against China's 6.3 per cent. The report further said that the India’s inflation is expected to decline further in 2015, reflecting the fall in global oil and agricultural commodity prices.
Extracted from BS, Oct 06,’15
|160|| Standard Chartered Bank to set up subsidiary in India|
Standard Chartered Bank is planning to set up its subsidiary India. It will seek permission from the Reserve Bank of India next year to set up the same. Moreover, several foreign banks, including DBS, State Bank of Mauritius, ABN Amro and First Rand Bank, have evinced interest in setting up a wholly owned subsidiary in India.
Extracted from ET, Oct 06,’15
|161|| Organisations to press for setting up Agro Food Park in Erode|
The Erode District Small Scale Industries’ Association (EEDISSIA) and Confederation of Indian Industry - Erode Zone have together planned to accord a thrust to Agro Food Park during their meeting with Union Minister of Commerce and Industry Nirmala Seetharaman in Oct’15. The two organizations will emphasise on establishment of an office of CFTRI (Central Food Technology Research Institute), a research centre, and food testing laboratory and quality testing centre, a permanent trade centre, cold storage, and an export centre.
Extracted from The Hindu, Oct 06,’15
|162|| Odisha to open 100 model schools|
The Odisha state government is planning to open at least 100 model schools from the next academic year even as the Centre stopped funding the proposed project. The state has decided to recruit 1,772 employees including 1,332 teachers for the proposed 100 model schools. The recruitment process will be completed by March next year while classes will start from April.
Extracted from HBL, Oct 05,’15
|163|| Govt plans medical devices parks to boost sector|
The union government is planning to set up two medical devices parks in southern India to facilitate the sector's growth, which is currently at a nascent stage. The government has identified 400 acres of land near Chennai and another 100 at Hyderabad for the same.
Extracted from BS, Oct 05,’15
|164|| Indian e-commerce market to grow 36% during 2015-20|
According to Canada based TechSci Research, the Indian e-commerce market is poised to grow 36% during 2015-20. The report further said that the consumer electronics, online travel, apparel and accessories are the market segments exhibiting promising growth.
Extracted from FranchiseIndia, Oct 05,’15
|165|| August core sector growth picks up to 2.6%|
According to Union ministry of commerce and industry, growth in eight core sectors — coal, crude oil, natural gas, refinery products, fertiliser, steel, cement, and electricity — increased to 2.6 per cent in August after a slower 1.1 per cent in July. However, the 2.2 per cent cumulative growth in April to August of FY16 still remains less than the corresponding figure previous year, which was 5.6 per cent.
Extracted from BS, Oct 01,’15
|166|| Government looking at Rs 3.3 lakh crore investment in transmission sector|
According to the Union Power Minister Piyush Goyal, the government is looking at an investment of around $50 billion (around Rs 3.3 lakh crore) in the transmission sector in the next five years. He further said that contracts worth Rs 38,000 crore have been sanctioned through competitive bidding for creating green corridors which will strengthen grid system in renewable sector.
Extracted from ET,Sep 29, '15
|167|| Centre approves 7 Textile Parks in Rajasthan: Union Minister of State for Textile Santosh Gangwar|
The Union government has issued approval for seven textile parks under SITP (Scheme for Integrated Textile Parks) in Rajasthan. For each SITP, the Centre provides an assistance of Rs 40 crore to the state for textile parks. Further, the Centre has also approved one Common Effluent Treatment Plant (CETP) in Balotra for textile industries.
Extracted from ET, Sep 28,’15
|168|| DoP to seek Cabinet nod for Rs 292 crore to set up payments bank|
The Department of Posts (DoP) is expected to seek Cabinet nod within two months for raising Rs 292 crore from public investment board to set-up payments bank, for which it has already got the RBI approval. Payments bank licence will allow companies to collect deposits (initially up to Rs 1 lakh per individual), offer Internet banking, facilitate money transfers and sell insurance and mutual funds. The DoP expects to roll out payment bank services by March 2017.
Extracted from ET, Sep 27,’15
|169|| Odisha Approves Four Investment Proposals|
The Odisha State Level Single Window Clearance Authority (SLSWCA) has approved many investment proposals in Sep’15. Among those are Bahrain-based Midal Cables aluminium conductor unit in Angul district at a cost of Rs 358 crore, Kashvi International’s pelletisation plant project at Jhumpura in Keonjhar with an investment of Rs. 152.77 crore and Metal Powder Company Ltd’s (MEPCO) aluminium powder manufacturing unit at Angul's aluminium park at an investment of Rs 330.9 crore.
Extracted from NIE, Sep 27,’15
|170|| Land identified for industrial parks|
According to Edappadi K. Palanisamy, Minister of State Highways and Minor Ports, Tamil Nadu, the state government has identified 39 acres at Pakkanadu, near Edappadi, and 16 acres at Puthiragoundanpalayam, near Attur, to construct new Sidco industrial estates.
Extracted from The Hindu, Sep 27,’15
|171|| Pawan Hans to invest Rs.1,500 cr in NE|
Pawan Hans, pioneer in off—shore helicopter operations in India, is planning to improve its air connectivity in North-East region part of India. It plans to make Guwahati in Assam as its hub for development of the region under a proposed ‘hub-and-spoke’ model and will also set up engineering training and helicopter pilots training institutes in the region. It plans to invest around Rs. 1500 crore for the same.
Extracted from HBL, Sep 23,’15
|172|| Essar may open Jharkhand mine next year|
Essar Group's power arm, Essar Power has said that it may open its Jharkhand coal mine for production next year. Meanwhile, production from Tokisud North coal block in Jharkhand will start in the last quarter of the current financial year.
Extracted from BS, Sep 23,’15
|173|| Odisha to spend Rs 4,000 crore on IT sector in next 5 years|
According to Odisha state Chief Minister, Naveen Patnaik, the Odisha state government is planning to spend over Rs 4,000 crore on the IT and IT-enabled services sector in next 5 years to create more than one lakh jobs in the state. Further, the state government is also planning a Green Field Electronics Manufacturing Cluster within Infovalley.
Extracted from ET, Sep 23,’15
|174|| Textile parks will be established in all taluks, says Anjaneya|
According to the Karnataka State Minister for Social Welfare and district in-charge H. Anjaneya, the state government has decided to establish textile parks in every taluk of the state, to encourage youths to become entrepreneurs and become self-dependent.
Extracted from The Hindu, Sep 13,’15
|175|| NASSCOM inaugurates start-up warehouse in Kochi|
The National Association of Software and Services Companies (NASSCOM) has inaugurated the start-up warehouse in Kochi, Kerala. It has been launched in support with the Kerala Government to build entrepreneurial capabilities in Kerala, create a vibrant community to connect investors, mentors and start-up entrepreneurs, and building tech-entrepreneurship as a preferred career option.
Extracted from BS, Sep 12,’15
|176|| India's industrial production expands 4.2% in July|
According to Central Statics Organisation (CSO), general index of industrial production (IIP), Industrial production in India has increased by 4.2 per cent in July 2015, compared to the level of production in July 2014. The index further said that the production in the mining, manufacturing and electricity sectors increased by 1.3 per cent, 4.7 per cent and 3.5 per cent, respectively in July 2015 compared with the corresponding levels in July 2014.
Extracted from Domain.b.com, Sep 11,’15
|177|| Firms ink MoUs worth Rs 50,098 crore with UP|
The Uttar Pradesh (UP) state government has signed more than 45 memorandums of understanding (MoUs) with companies, worth Rs 50,098 crore, during its Mumbai Investor Conclave in Sep ’15. Among them few are, LG pledged Rs 1,328 crore, Idea Cellular Rs 550 crore, Toshiba Power Rs 3,400 crore, ITC Rs 1,450 crore, Reliance Jio Rs 1,200 crore and Welspun Rs 600 crore.
Extracted from FE, Sep 11,’15
|178|| Expert panel set up to facilitate biomedical waste treatment plant|
The Goa state government has constituted an expert committee to set up a common biomedical waste treatment facility at a central location in Goa. The committee will be entrusted with various tasks, including supervision and monitoring of the process of setting up the plant that will cater to the entire state. The facility will comprise an effluent treatment plant, a sewage and chemical treatment facility within the complex.
Extracted from TNN, Sep 08,’15
|179|| Clearance for new industrial units|
The Himachal Pradesh State Level Single Window Clearance & Monitoring Authority (SLSWC&MA) has issued approval to seven proposals for setting up new industrial projects in the state. The Authority has also approved 15 expansion, diversification proposals for combined proposed investment of approximately Rs 784 crore.
Extracted from TNN, Sep 06,’15
|180|| AP plans to set up 5 start-up incubators|
The Andhra Pradesh state government is planning to set up five incubators to nurture start-ups in areas of futuristic technologies, including the internet of things, social media, analytics and cloud, among other things. Each incubator would cost around Rs 150 crore and will be executed for a period of 15 years
Extracted from BS, Sep 03,’15
|181|| 36 godowns will come up in Karimnagar: Minister|
The Telangana state government has decided to construct 36 godowns in district Karimnagar, Telangana. The project is planned to be completed in six months. Approximate cost of the project is around Rs. 106 crore.
Extracted from The Hindu, Sep 01,’15
|182|| Indian healthcare to grow to $280 bn by 2020: Report|
According to FICCI-KPMG, India's healthcare sector is expected to be $280 billion in size by 2020. The report further said that the workforce in the sector is expected to be at 7.4 million in 2022.
Extracted from BS, Aug 31,’15
|183|| Apollo plans new hospitals in Bangladesh, Kolkata|
The Apollo Hospital Group is planning to expand its operations in Bangladesh and Kolkata in the next few years. Even it has a hospital in Dhaka; it plans to have one more hospital in Chittagong. But, it is yet to be decided whether it would be through a tie-up or through some other mechanism. The group is also contemplating a 200-bed hospital in south Kolkata. It now has a 510-bed unit in the northern part of the city.
Extracted from HBL, Aug 30,’15
|184|| 2,000 MW solar power park in Karnataka soon|
According to Union Power Minister, Piyush Goyal, a 2,000 MW solar power park would be set up at Pavagada in district Tumakuru, Karnataka on 10,000 acres of parched land. The park will be built under public-private partnership (PPP) with investment from central and state governments.
Extracted from BS, Aug 27,’15
|185|| Himachal to invite fresh bids for cement plant|
According to Himachal Pradesh Industries Minister, Mukesh Agnihotri, Himachal Pradesh will invite fresh bids for granting mining lease for setting up a cement plant in district Chamba. He added that the lease will be granted through auction.
Extracted from BS, Aug 27,’15
|186|| Plan to set up industrial park near Udupi|
According to Pramod Madhwaraj, MLA, an industrial park in Udupi assembly will be set up on 200 acres of land area. Besides, A Government Tool Room and Training Centre would be set up at Village Uppoor near Udupi shortly. This centre will give training in manufacturing tools and other components needed for the industry. It would also help manufacturers deal with issues of quality training, accreditation and certification. Approximate cost of the project is Rs. 48 crore.
Extracted from The Hindu, Aug 26,’15
|187|| Rs. 1-lakh cr. highway projects to be awarded this year|
According to the Union Road Transport and Highways Minister, Nitin Gadkari, the Union government has set a target of awarding highway projects estimated at Rs. 1 lakh crore this year and Rs. 5 lakh crore in the next four years.
Extracted from The Hindu, Aug 26,’15
|188|| Maruti adds 50 new outlets in June quarter|
Maruti Suzuki adds 50 outlets in India during the quarter ended June 30, 2015. With the expansion, the number of Maruti sales outlets has increased to 1,670, covering 1,336 cities and towns.
Extracted from BS, Aug 25,’15
|189|| Tata Trusts signs MoU with AP for developing smart villages|
Tata Trusts has signed a MoU with the Andhra Pradesh state government to develop 264 villages in Vijayawada constituency and transform them into smart villages. Based on the agreement, the Tata Trusts has agreed to work in the areas of bamboo cultivation, fisheries, health and nutrition and village development.
Extracted from HBL, Aug 24,’15
|190|| Master plans approved for 50 solar cities|
According to the union ministry of new and renewable energy, the government has proposed 60 solar cities across the country. It has approved the master plan to develop 50 solar cities, for which master plans have been prepared for 46 cities. Further, in-principle approvals have been given to five cities - Thiruvananthapuram, Jaipur, Indore, Leh and Mahabubnagar.
Extracted from TNN,Aug 23,’15
|191|| GHMC plans to set up 500 e-libraries|
The Greater Hyderabad Municipal Corporation (GHMC) is planning to open 500 e-libraries under its limits in the first phase. GHMC will provide the required furniture, two computers, books, newspapers etc at these e-libraries.
Extracted from NIE, Aug 21,’15
|192|| Indian economy can grow by 7.5-8 per cent despite deficient monsoon: Bibek Debroy|
According to Niti Aayog member Bibek Debroy, India’s economy could grow by 7.5-8% in FY16 despite deficient monsoon rains as most sectors of the economy has shown an uptick in recent months. Debroy expects economic growth in the second half of the year would outpace that in the first half as recent policy steps and a step-up in public spending would start showing results in the later part of the year. The first quarter GDP data is scheduled to be released on August 28.
Extracted from FE, Aug 19,’15
|193|| India to see 2,500 MW additionall solar power capacity: Report|
According to Mercom Capital Group, India is projected to add 2,500 MW solar power generation capacity this year as the country's solar market is set to "take off". The report further said that the solar installations year-to-date is approximately 1,400 MW. Cumulative solar installations in India have now crossed 4.5 GW (4,500 MW).
Extracted from ET, Aug 18,’15
|194|| Govt gives nod to 18 Chinese firms to set up base in India|
The Union government has cleared 18 applications that were received from Chinese firms since June 2014 to either set up project offices, branch offices or liaison offices in the country. Several of these applications belong to power sector, some from construction companies and a few from petroleum companies. The list also includes an airlines company and a prominent tyre manufacturer.
Extracted from FE, Aug 18,’15
|195|| India's super rich grow by 17% in FY15|
According to Kotak Wealth Management’s annual wealth report, Top of the Pyramid 2015, growing opportunities in e-commerce, a rising stock market and an optimistic economic outlook have helped the number of ultra-high networth households (UHNHs) in India grow 17 per cent in FY15. The report said that, in the current financial year, the number of families with net assets (excluding residence) of more than Rs 25 crore was around 137,100 against 117,000 a year back.
Extracted from BS, Aug 12,’15
|196|| 16 hydropower projects under construction in northeast|
According to The Minister of Development of North Eastern Region, Jitendra Singh, there are 16 hydropower projects aggregates 5,576 MW are in various stages of construction in the northeast region of the country.
Extracted from BS, Aug 06,’15
|197|| Gurulaxmi Cottex plans new unit in Maharahstra|
Gurulaxmi Cottex Private Limited is planning a cotton yarn manufacturing unit in Yavatmal (Yeotmal), Maharashtra.
|198|| Centre has identified 200 sites for new thermal power projects|
According to the Union Power Minister, Piyush Goyal, the centre has identified 200 large pithead and coastal sites for setting up of thermal power projects with likely gross generation capacity of over four lakh megawatt. This includes two coastal sites, namely, Divigi and Honavar in districts Uttar Kannada, Karnataka. Central Electricity Authority (CEA) had identified the sites based on satellite mapping using remote sensing technology.
Extracted from ET, Aug 03,’15
|199|| Semtech keen to invest Rs 100 crore in India|
Semtech Advanced Systems India Pvt Ltd, a subsidiary of California based Semtech Corporation, is planning to invest Rs 100 crore in next two to three years to build up its engineering capability and expand market base in India.
Extracted from BS, July 31,’15
|200|| Indian cement sector to grow 7% in FY16: ICRA|
According to the rating agency ICRA, India's cement industry is likely to grow by 6.8-7 per cent in 2015-16. The report further said that, in 2014-15, the all India cement production grew by 5.6 per cent, an improvement over the growth of 3 per cent in FY14.
Extracted from BS, July 30,’15
|201|| Govt to set up Rs 500-cr fund for SME pharma firms|
The union government will set up a Rs 500 crore fund for small and medium players in the pharmaceutical sector for upgradation of their manufacturing facilities to boost drug production in the country. Further, the government is also planning to approve six pharma parks this year at an estimated investment of Rs 180 crore to promote pharmaceuticals manufacturing.
Extracted from BS, July 24,’15
|202|| Rajasthan government mulls inland port in Jalore|
The Rajasthan state government is exploring ways to develop an artificial inland port in Jalore by bringing in Arabian Sea water into Rajasthan through Gujarat. The Rajasthan state water resources department (SWRD) has already issued an administrative and technical (A&T) approval to do the pre-feasibility study for the project.
Extracted from TNN, July 24,’15
|203|| Panel moots reopening of seven non-captive mines|
According to Minister of State for Steel and Mines Prafulla Kumar Mallick, the inter-departmental committee on mines has recommended reopening of seven non-captive mines in Odisha. The committee has recommended extension of lease period of these non-captive mines till 2020.
Extracted from NIE, July 23,’15
|204|| Modernisation of steel plants in public sector|
According to Minister of State Vishnu Deo Sai, Steel Authority of India Limited (SAIL) and Rashtriya Ispat Nigam Limited (RINL) have undertaken Modernizations and Expansion (at Bhilai, Bokaro, Durgapur, Rourkela, ISP, Burnpur and Special Steel Plant at Salem of SAIL and Vizag Steel Plant of RINL) to enhance its crude steel production capacity in the current phase from 12.84 Million Tonne Per Annum (MTPA) to 21.40 MTPA and from 3.0 MTPA to 6.3 MTPA, respectively.
Extracted from BS, July 22,’15
|205|| Government gives final approval to set up 13 mega food parks|
According to the Union Minister of State for Food Processing Industries, Sadhvi Niranjan Jyoti, the union government has given final approval for setting up of mega food parks in Andhra Pradesh, Bihar, Gujarat, Himachal Pradesh, Jammu & Kashmir, Madhya Pradesh, Odisha, Rajasthan & Uttarakhand (one each) and Chhattisgarh and Maharashtra (two each).
Extracted from ET, July 22,’15
|206|| Navy, DRDO, SAIL in tie-up for producing steel for submarines|
The Indian Navy’s Directorate of Naval Design in collaboration with Defence Research and Development Organisation (DRDO) and Steel Authority of India Ltd (SAIL), has developed a special grade of steel for indigenously designed nuclear-powered stealth submarines. SAIL is also producing armoured plates for Russian-origin T-72 and T-90 tanks, the indigenous Main Battle Tank ‘Arjun’ and for mine-protected vehicles.
Extracted from FE, July 22,’15
|207|| Bosch plans to invest Rs 400 cr in Chennai facility|
Bosch, the home appliances major, is planning to invest Rs. 400 crore in its Chennai facility. The facility which spread over an area of 42 acres can able to produce over 300,000 units of front-loading washing machines in a year. It is planning to use the facility to manufacture other products.
Extracted from BS, July 21,’15
|208|| Hospital to be set up in Bastar to Treat Security Personnel|
According to the Union Health Minister, Jagat Prakash Nadda, the Union Home Ministry has given a proposal to the Union Health Ministry to set up a super specialty hospital in Bastar region of Chhattisgarh. However, he did not elaborate about the proposal and said that progress is being made in the direction of either setting up or upgrading a hospital in the Bastar district.
Extracted from NIE, July 19,’15
|209|| Govt planning to set up industrial hubs to create 2.25 lakh jobs|
Haryana state government is planning to set up industrial hubs in every district of the state. The state government will also lay the foundation stone for a medical college and for a new university campus in Bhiwani shortly. Beyond these, projects announced for Bhiwani, included JBT institutions, a milk plant, upgradation of four schools in assembly constituency, sewerage treatment plant in Sector 21-26, 33kv substation, development of old ponds in Bhiwani on the pattern of lakes.
Extracted from HT, July 18,’15
|210|| Tata Motors to spend Rs.38,800 crore on new products, technology|
Tata Motors has earmarked Rs. 38,800 crore as capital expenditure for the current financial year. The company said it will invest on new products and technology, including for its British subsidiary Jaguar Land Rover (JLR).
Extracted from HBL, July 17,’15
|211|| Telangana to clear Rs. 1,050 cr worth project proposals|
The Telangana government is going to give permissions to 15 more industries in the second phase under the new Industrial Policy in July 2015. Approximate investment to be made is around Rs. 1050 crore. Earlier, in the first phase, the government gave permissions to 17 industries during the month of June 2015.
Extracted from HBL, July 17,’15
|212|| Nabard plans Rs. 3,000 cr loan for the Telangana water project|
The National Bank for Agriculture and Rural Development (Nabard) has promised to give a loan of Rs. 3,000 crore for the Telangana WaterGrid project. The bank has agreed to disburse the loan this year itself.
Extracted from HBL, July 17,’15
|213|| ADB retains India’s growth forecast at 7.8% for 2015-16|
According to Asian Development Bank’s (ADB) Asian Development Outlook’ (ADO), it has retained its India economic growth forecast for 2015-16 at 7.8 per cent. The report further said that the growth forecast remains unchanged for 2016-17 at 8.2 per cent with expectations of strong services sector growth bolstering overall performance.
Extracted from HBL, July 16,’15
|214|| Adidas files application with DIPP for setting up fully-owned stores in India|
Adidas, German sportswear, is planning to open fully-owned flagship stores in India. It has filed an application with the Department of Industrial Policy & Promotion (DIPP) for the same.
Extracted from ET, July 16,’15
|215|| Adani Group looks at Karaikal, two other ports for business expansion|
Adani Ports & Special Economic Zone (APSEZ) is in the process of expanding its port business through acquiring ports in Karaikal, Kattupalli and Gangavaram. Adani Group is in talks with the promoters of Gangavaram port in Andhra Pradesh as well as Karaikal & Larsen & Toubro's Kattupalli ports in Tamil Nadu.
Extracted from ET, July 15,’15
|216|| Centre gives nod for 10 FDI proposals worth Rs.1,675.15 cr|
The union government has approved 10 proposals for Foreign Direct Investment (FDI) worth Rs.1,675.15 crore based on the recommendations of the Foreign Investment Promotion Board’s (FIPB) meeting last month. The FIPB will next meet on July 31 and is scheduled to take up 41 FDI proposals.
Extracted from HBL, July 15,’15
|217|| Foxconn to build 12 factories, employ 1 million in India|
According to Foxconn CEO Terry Gou, Foxconn is planning to build up to 12 new factories in India, employing nearly one million workers, by 2020.
Extracted from BS, July 14,’15
|218|| Tata Motors’ 3S facility inaugurated in Tumakuru|
Tata Motors has inaugurated a 6,800 sq. meters 3S (sales, service and spares) facility for commercial vehicles in Tumakuru near Bengaluru. The company will also open such facility at Chitradurga which would spread over 4,000 sq. meters.
Extracted from The Hindu, July 14,’15
|219|| Noida set to tie up with IT biggie for smart city plan|
The Noida Authority is looking to rope in a leading IT company to design and implement its plan for the Smart City Challenge. Once a partner firm is finalized, the Noida, Greater Noida and YEIDA authorities plan to set up digital infrastructure to offer better amenities to citizens. These could include interactive kiosks, wireless broadband and upgraded safety and security services.
Extracted from TNN, July 14,’15
|220|| Union government to set up University of Medicines|
According to Union Health Minister J P Nadda, the union government is planning to set up a University of Medicines which will also carry out documentation of diseases and its treatment through various traditional practices. The university will be a repository of knowledge on communicable and non-communicable diseases and help broaden understanding towards traditional medicines and its benefits. The new institute will do research in the field of lifestyle diseases and its cure with traditional as well as allopathic medicines.
Extracted from ET, July 13,’15
|221|| Punjab seeks RIL's investment in food processing sector|
Government of Punjab has invited the Reliance Industries to set up a project in food processing sector at Ladhowal, Ludhiana, Punjab. The project is yet to be discussed during the upcoming Progressive Punjab Investment Summit which is scheduled to be held in October 2015. The DPR for the project will be submitted with the centre before July 31, 2015 and a formal sanction will be obtained from Government of India.
Extracted from BS, July 13,’15
|222|| Ahmednagar Road corridor to be operational from August’15|
The Pune Municipal Corporation (PMC) is set to start the Bus Rapid Transit System (BRTS) on Ahmednagar Road from August 1,’15.According to Mayor Dattatraya Dhankawde all pending works will be completed before the deadline.
Extracted from TNN, July 11,’15
|223|| New IIP to come up in Vizag|
A new Indian Institute of Packaging (IIP) will come up in Vizag by the end of next year. Andhra Pradesh government has already earmarked 10 acres of land for the same. Currently IIP has a facility only in Hyderabad. IIP issues certificates to ensure safe shipping of hazardous cargo internationally.
Extracted from The Hindu, July 12,’15
|224|| 3700 rural godowns in Odisha|
The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 1077 crore to Odisha for construction of more than 3700 rural godowns with a combined storage space of 9.23 lakh tonnes.
Extracted from BS, July 12,’15
|225|| Telangana to set up power projects totaling 25,000 MW|
According to Chief Minister K Chandrasekhar Rao, the Telangana government is planning to set up power projects totaling 25,000 MW by investing over Rs 90,000 crore in the next four years.
Extracted from ET, July 11,’15
|226|| Auto industry to employ 15 million people directly by 2022: NSDC|
According to National Skill Development Corporation (NSDC), around 15 million people are expected to be employed in the automobile industry directly by 2022 in India. It said that India’s automobile sector directly and indirectly provides jobs to around 19.1 million people now.
Extracted from BS, July 10,’15
|227|| Car, motorcycle sales marginally up in June’15|
According to the Society of Indian Automobile Manufacturers (SIAM), the Indian automobile industry has experienced some positive movement in June, ‘15 with sales of all vehicle categories showing growth against the corresponding month last year. Motorcycle sales that were in the negative territory for the last many months also showed a marginal growth in June’15.
Extracted from The Hindu, July 09,’15
|228|| Tata Group to sign 3 MOUs with Tripura govt|
The Tata Group is to sign three MoU’s with the Govt. of Tripura. The first MOU would be signed with the department of Industries and Commerce for providing higher technological knowhow to two Industrial Training Institutes (ITI) in districts West Tripura and Dhalai. The second MOU would be signed for setting up a dairy farm at Ambassa in Dhalai district and another MOU would be signed for augmenting fish production in the state.
Extracted from BS, July 08,’15
|229|| KIOCL, MECL sign pact|
Kudremukh Iron Ore Corporation Ltd. (KIOCL) signed a MoU with Mineral Exploration Corporation Ltd. (MECL) for joint exploration of mineral assets in India. Under this MoU, they will jointly deploy their mining and mineral exploration experts to undertake mining and detailed exploration of minerals from various states in the country.
Extracted from The Hindu, July 08,’15
|230|| Odisha begins to look for investors in Plastic Park|
The Odisha state government has started scouting for potential investors for the Plastic Park at Paradip where land allotment is likely to begin by the middle of 2016. The Plastic Park is part of Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR), a mega project, being executed around the port town of Paradip. PCPIR, which entails an investment of Rs. 2,77,000 crore, is planned on 284 sq km of land.
Extracted from The Hindu, July 04,’15
|231|| Govt pegs marine exports to grow by 20% to $6.6 bn in FY16|
According to the union commerce ministry, India's marine product export is expected to grow by around 20 per cent to USD 6.6 billion this fiscal. The ministry further said that, the US is the largest market for Indian seafood products with a share of 26.46 per cent followed by South East Asia (25.71 per cent), European Union (20.08 per cent) and Japan (9.11 per cent).
Extracted from BS,July 03,’15
|232|| Online hiring activity up 32% in June: Monster Index|
As per Monster Employment Index, the online hiring activity in India has registered a 32 per cent year on year growth in June’15, the highest increase so far this year. On a month-on-month basis, the index saw an uptrend in online hiring activity as the month of June registered an increase of 11 points from 191 in May. Of the 27 industry sectors monitored by the index, online recruitment activity exceeded the year-ago level in 17 industry groups.
Extracted from HBL, July 02,’15
|233|| India’s new textile policy aims at generating 35M jobs through foreign investments |
According to Textiles Secretary, S K Panda, the union government will unveil a new national textiles policy next month that seeks to create 35 million new jobs by attracting foreign investments. Further, the government is also considering setting up modern apparel garment manufacturing centres in each of the seven north-east states of the country.
Extracted from Yourstory, July 01,’15
|234|| Fitch lowers India’s economic growth projections to 7.8%|
According to Fitch, a global rating agency, India’s economic growth has projected to 7.8 per cent for the current fiscal from 8 per cent on pick up in demand. However, it expects India’s GDP growth rate this year to surpass China’s for the first time since 1999, forecasting acceleration to 8.1 per cent in 2016-17 before settling back to 8.0 per cent in 2017-18.
Extracted from HBL, July 02,’15
|235|| Hotel industry to see modest 6% growth in FY16: ICRA|
According to ratings agency ICRA, the Indian hotel industry will witness a modest growth of 5 to 6 per cent in the current fiscal due to delays of under-construction projects. The report further said that the revenue growth for the industry is expected to remain weak in the first half of 2015 with a growth rate of just 3 to 4 per cent and operating margins are likely to be flat.
Extracted from Indiaeveryday, June 30,’15
|236|| Indian auto component industry grows by 11% in FY 15|
According to Automotive Component Manufacturers Association of India (ACMA), the Indian auto component industry has registered a growth of 11% during FY15, clocking a turnover of Rs. 2.34 lakh crore ($ 38.5 billion). The industry has also seen a CAGR of 11 per cent over the last six years. The auto component industry in India is expected to scale $ 100 billion in turnover by 2020.
Extracted from HBL, June 30,’15
|237|| Punjab invites investors to set up solar power projects|
The Punjab state government has invited investors to set up solar power projects in the state, as it has identified 6,000 acres of land for setting up such projects. According to the Punjab government, the developers will have an option to put up the allocated capacity at single location or maximum 10 locations with minimum capacity of 5 MW.
Extracted from The statesman, June 28,’15
|238|| Bengal pegs Rs 37,000-cr investment in textiles sector|
The West Bengal government is planning to attract around Rs 37,000 crore in the state through 10 textile clusters or parks under integrated textile development project over the next three years. These parks, involves hosiery, ready-made garments and knitting, will come up at Barasat, Bankura, Metiabruz, Uluberia, Salt Lake, among other places.
Extracted from TNN, June 27,’15
|239|| Karnataka Govt. to construct new godowns, cold storages|
The Karnataka state government is planning to construct 2,000 to 5,000 metric tonne capacity godowns and cold storages in different districts across the state. The State government would pay 80 per cent of the cost of these godowns and the remaining 20 per cent would be borne by Agriculture Produce Marketing Committee (APMC) in respective districts.
Extracted from The Hindu, June 27,’15
|240|| West Bengal government to spend Rs 2,600 crore to add 17,000 beds in state hospitals by 2015-16|
According to Malay De, Health Secretary, West Bengal State Government, the government is planning to increase its hospital beds capacity to 80,000 from its current 63,000 beds during 2015-16 with the investment of Rs. 2,600 crore. It is also in process of investing Rs 250 crore to procure radio therapy equipments.
Extracted from ET, June 20,’15
|241|| Indian retail to spend $81 billion on IT by 2020|
According to Infoholic Research, a market research firm, Retail Industry in India will be spending nearly $81.23 billion on IT by 2020. A significant growth in in-store management and headquarters management, especially in organized retail sector, will be driving the IT spending by retail in India. FDI in retail will also be one of the main growth drivers for IT services.
Extracted from Infotechlead, June 16,’15
|242|| Medivir AB ties up with GVK Biosciences|
Medivir AB, has announced a partnership with Hyderabad-based GVK Biosciences Pvt Ltd. The partnership will consolidate and strengthen all current outsourced synthetic chemistry in a single facility at GVK BIO’s Integrated Discovery Research Campus, where an addition of approximately 20 scientific staff will further accelerate the synthesis and testing of compounds.
Extracted from HBL,June 16,’15
|243|| Industrial output grows 4.1% in April’15|
According to Central Statistics Office (CSO), the factory output of India has rose to 4.1% in April’15, higher than the previous month's 2.5%. The report further said that the manufacturing sector rose 5.1% in April compared to 3% in the same month last year, while mining remained sluggish with 0.6% growth compared to 1.7% expansion in April 2014. The electricity sector, which has notched up robust growth in the previous month, declined 0.5% in April compared to an expansion of 11.9% in April 2014.
Extracted from TNN June 13,’15
|244|| Business incubation centre at TIM, Kerala|
The TKM Institute of Management (TIM) along with the Kerala State Industrial Development Corporation (KSIDC) has set up a business incubation centre for entrepreneurship development campus at Karuvelil near Kollam in Kerala.
Extracted from The Hindu,June 13,’15
|245|| Reliance Retail to enter e-commerce space|
Reliance Retail is in the process of rolling out an e-commerce platform called Reliance Digital Marketplace that will provide a platform to small retailers to sell products online.
Extracted from HBL, June 12,’15
|246|| The Union Government accelerates efforts to set up solar parks in the country|
According to media reports, after getting a green signal from Prime Minister’sOffice, the Ministry of New and renewable Energy (MNRE) has sped up the process of establishing solar park projects across the country. The total capacity of the projects that will be spread across 20 states is 13,000 megawatt (MW). The solar parks will be developed in collaboration with the state governments and their agencies. Solar Energy Corporation of India (SECI) would be the agency for handling the scheme.
Extracted from Eco-Business, June 10,’15
|247|| Garment makers seek to build warehouses in India; BGMEA|
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has requested Indian Prime Minister to set up warehouses facility in Gujarat on 50 acres of land. These warehouses are used to supply apparel items directly to retail shops across India.
Extracted from The dailystar, June 08,’15
|248|| Prestige Group plans Rs.1,000 cr capex for office, retail projects|
According to Venkat K Narayana, Executive Director & CFO, Prestige Group, the group has earmarked Rs.1,000 crore as capex for office, retail and hospitality projects this financial year. The capex is primarily to complete revenue generating projects which are in various stages of completion.
Extracted from HBL, June 07,’15
|249|| 60 new coal mines to be opened soon, says Coal Minister Piyush Goyal|
According to Indian Coal and Power Minister, Piyush Goyal, the union the government is planning to open more than 60 coal mines across the country in the coming days. The new mines were part of the overall plan for state miner Coal India (CIL) to double its current production of 500 million tonnes per annum in five years to reach the country's total production target of 1,500 million tonnes by 2020.
Extracted from Businesstoday,May 28,’15
|250|| Solar power output capacity to double to 6 GW|
According to solar power consultancy firm Bridge to India, India’s solar power generation capacity is expected to double to 6 GW by the end of 2015. So far, in the first three months 700MW of capacity has been added and work is on in another 1GW. By the end of the year 3GW will be added which would double the current capacity.
Extracted from HBL, May 28,’15
|251|| India plans to generate 100,000 jobs in its North East through development|
According to Surjit K Chaudhary, secretary, chemicals and petrochemicals, ministry of chemicals and fertilizers, the Indian government is planning to generate one lakh jobs in the northeast through development of the plastic industry.
Extracted from Plastemart, May 26,’15
|252|| Singapore investors willing to fund projects in AP|
Gopinath Pillai, Special Envoy between Singapore and Andhra Pradesh Government has said Singapore is exploring investment opportunities and its financial institutions are willing to fund projects in Andhra Pradesh. He further said that the National University of Singapore has evinced interest in introducing some of its modules by working with Andhra University.
Extracted from HBL, May 21,’15
|253|| JustDial makes soft entry into e-commerce|
JustDial has made a soft entry into the e-commerce space through tie-ups with restaurants, grocers, pharmacies and electronic stores for home delivery. It has started with Andheri in Mumbai and is slowly expanding to other areas of the city. So far, the service is available through the website. It will later be made available through an app. In the restaurant category, the company plans deliveries within a half hour of the order being placed. For grocery and medicines, it aims delivery in an hour. In case of electronics, if the order is placed before 2 pm, it will ensure delivery in 7-8 hours, else in the next 24 hours.
Extracted from FE, May 15,’15
|254|| Aditya Birla Retail buys retail biz of Jubilant|
Aditya Birla Retail (ABR), which owns the ‘More’ chain of retail stores, has announced the acquisition of the Total Superstore Business (Total Undertaking), the retail division of Jubilant Agri and Consumer Products Ltd. (JACPL). While the deal size was not disclosed, the all-cash deal will see ABR acquire Total’s assets on a slump-sale basis.
Extracted from The Hindu, May 13,’15
|255|| Construction chemicals industry to double to Rs 7,000 cr by FY19|
As per the research conducted on construction chemicals by Tata Strategic Management Group and Ficci, the Indian construction chemicals industry is expected to grow by 15 per cent per annum over the next five years to reach Rs 7,000 crore by 2018-19. The industry was valued at Rs 3,500 crore in 2013-14 and grew by 12 per cent between 2009-10 and 2013-14.
Extracted from BS, May 08 2015
|256|| Punjab to revamp 165 towns with projects worth Rs.5,000 crore|
The Punjab state government is planning to revamp around 165 towns and cities across the state. Under the scheme, the state government plans to provide facilities like water supply, sewerage, sewerage treatment plants (STPs), streetlights, roads and parks in all the 165 towns by the end of 2016. Approximate cost of the project is around Rs. 5,000 crore.
Extracted from BS, May 08 2015
|257|| Construction sector is projected to grow to INR 11,954 billion by 2017|
According to a report by National Skill Development Corporation (NSDC), India will need around 76.5 million strong workforces in the India's booming Building, Construction and Real Estate sector. Out of the 24 sectors studied by NSDC, this sector will have the maximum incremental human resource requirement from 2013-2022. The report further said that the construction sector is projected to grow to INR 11,954 billion by 2017.
Extracted from TNN, May 06,’15
|258|| India to double LNG imports to 24 mtpa by 2020: Moody’s|
According to research and ratings agency Moody’s, India's imports of liquefied natural gas (LNG) are set to more than double over the next five years to 24 million tonnes per annum by 2020 from 10.7 million tonnes in the financial year ended March 2014.
Extracted from BS, May 06,’15
|259|| Indian economy to grow in the range of 8.1- 8.5 per cent: Jayant Sinha|
Minister of State (MoS) for Finance, Jayant Sinha has said that benign oil prices, likely monetary policy easing by the Reserve Bank of India (RBI) and lower inflation will help the Indian economy to grow in the range of 8.1- 8.5 per cent in the current fiscal.
Extracted from Livemint, May 06,’15
|260|| World Bank pegs India’s growth at 7.5% in 2015-16|
According to the World Bank’s- India Development Update, India’s economic growth is expected to rise to 7.5 per cent in 2015-16, followed by further acceleration to 7.9 per cent in 2016-17 and 8 per cent in 2017-18. However, acceleration in growth is conditional on the growth rate of investment picking up to 11 per cent from FY16 to FY18, the report said.
Extracted from HBL, Apr 28,’15
|261|| CM Devendra Fadnavis offers to set up Indo-Israel industrial park in Maharashtra|
Maharashtra Chief Minister Devendra Fadnavis has offered to set up an Indo-Israel industrial park in Maharashtra. Besides, Maharashtra has already decided to set up an Indo- Japanese Industrial park near Pune.
Extracted from DNA, Apr 28,’15
|262|| MTR Foods plans foray into e-commerce by Q3FY1|
MTR Foods Ltd, the Bengaluru-based instant food mixes and ready-to-eat food products maker, is eyeing the fast-growing e-commerce market to expand reach. The company is currently building its own online store, which will be launched by the third quarter of this year.
Extracted from BS, Apr 20,’15
|263|| Maharashtra govt targets 14,400 Mw power generation by 2019|
The Maharashtra state government wants to produce 14,400MW electricity by 2019 by way of non-conventional methods. For this, the state government will be inviting private companies and these companies will invest a total of about Rs 70,000-80,000 crore for the purpose.
Extracted from BS, Apr 21,'15
|264|| GST to increase India's GDP by 1-2%|
According to Union Finance Minister Arun Jaitley, the implementation of the landmark goods and services tax (GST) regime, proposed from April 1, 2016, would increase India's gross domestic product (GDP) by one to two per cent.
Extracted from BS, Apr 17,’15
|265|| India's GDP Growth Rate to Reach 8% by 2017: World Bank|
The World Bank has predicted that India’s GDP growth rate would be around 8 per cent by 2017. The GDP growth is expected to accelerate to 7.5 per cent in fiscal year 2015/16. It could reach 8 per cent in FY 2017/18, the bank said in its semi-annual report.
Extracted from NDTV,Apr 14,'15
|266|| Naidu invites Chinese cos to set up industrial parks in AP|
Andhra Pradesh Chief Minister N Chandrababu Naidu has invited Chinese firms to set up industrial parks and take up infrastructure development in the State. During the meeting with China Gezhouba Group Corporation (CGGC), the Chief Minister has asked the company to work with Andhra Pradesh construction of dams and linking of rivers. Further, the State government has signed six Government-to-Business (G2B) MoUs.
Extracted from HBL, Apr 14,’15
|267|| Industrial production grows at 5% in February; mining, manufacturing do better|
As per the data released by the Central Statistics Office (CSO), Industrial production grew at nine-month high of 5 percent in February on improved mining and manufacturing activity coupled with larger offtake of capital goods. The factory output, as measured by the Index of Industrial Production (IIP), had declined by 2 percent in February 2014. In the April-February period of 2014-15, IIP grew 2.8 percent as against contraction of 0.1 percent in same period of previous fiscal.
Extracted from Firstpost, Apr 10,’15
|268|| India's mobile commerce market to reach $19 bn by 2019: Zinnov|
According to Zinnov, the Indian mobile commerce (m-comm) market may grow by 55 percent from its present size of $2 billion to $19 billion by 2019. Further, it said 54 percent of the consumers have purchased either a product or a service from their smartphones. It also said that the e-commerce companies are increasing their focus on mobile commerce.
Extracted from Daijiworld, Apr 10,’15
|269|| France to invest 2 billion euros in India; help in development of three smart cities|
France will invest 2 billion Euros in India. It will help in the development of three smart cities in India, including Pondicherry and Nagpur. Besides, India-France has signed 17 agreements in sectors such as railways, skill development, science and technology.
Extracted from ET, Apr 10,’15
|270|| Centre to invest Rs.10,000-cr in N-E power projects|
The centre will invest Rs.10,000 crore to boost the power transmission and distribution network in the eight North Eastern states, including Sikkim, union minister for power, coal and NRE, Piyush Goyal, said. The Power Grid Corporation of India Limited (PGCIL) has started work.
Extracted from domain-b.com, Apr 09,’15
|271|| Wind power installations marginally up in 2014-15|
India’s wind power capacity increased in 2014-15 by 2,297 MW, marginally higher than its achievement of 2,146 MW in the previous year.The industry missed about 400 MW because of delays in signing power purchase agreements.
Extracted from Panchabuta, Apr 08,’15
|272|| Steel production up 7.9% in FY'15 at 88.12 MT: Joint Plant Committee|
The Joint Plant Committee (JPC), a unit of the Steel Ministry, has reported that India's steel production rose by 7.9 per cent to 88.12 million tonnes last fiscal compared with the previous year. The steel sector contributes nearly two per cent in the country's GDP and employs over six lakh people. India has already overtaken the US to become the third- largest steel producer in the world with a production of 14.56 million tonnes in first two months of the year.
Extracted from ET, Apr 07,’15
|273|| Major steel players like SAIL, Tata Steel, others, government ink pact to set up research body|
SAIL, Tata Steel, JSW Steel, JSPL and RINL has signed MoU with the Ministry of Steel to set up Steel Research and Technology Mission of India (SRTMI). The initial corpus for setting up of SRTMI is of Rs. 200 crore wherein Rs. 100 crore will be contributed from the Steel Development Fund of the Ministry, and Rs. 100 crore will be provided by the participating companies. SRTMI will carry out R&D in priority areas of national importance covering best usage of available raw materials and conservation of natural resources, optimum energy conservation & minimum emissions, innovations and in-house development of design, engineering and manufacturing facilities of key steel plant equipments.
Extracted from ET, Apr 06,’15
|274|| Cement sector may see revival from 2nd quarter of FY'16|
According to PL India, India's cement demand continued to remain tepid in March 2015, but it is expected to see revival from the July-September quarter of current fiscal on the back of steep increase in allocations to infrastructure spending.
Extracted from ET, Apr 05,’15
|275|| India factory activity revs up in March on higher demand|
According to The HSBC Manufacturing Purchasing Managers' Index, compiled by Markit, rose to 52.1 in March from 51.2, confounding economists polled by Reuters who expected a slight dip to 51.0. Any reading above 50 indicates growth. For Indian manufacturing, March is the 17th straight month of expansion.
Extracted from HBL, Apr 02,’15
|276|| 10 road projects for Karnataka to begin by December: Gadkari|
Nitin Gadkari, Union Minister of Road Transport and Highways, and Shipping has said that 10 road projects would be started in Karnataka before December’15 at a total cost of Rs. 10,000 crores. The roads are: Hospet-Chitradurga, Hospet-Ballari, Hassan-BC Road, Shivamogga-Mangaluru, Ankola-Hubbali, Hubbali-Hospet, Vijayapura-Kalaburagi-Humnabad, Nelamangala-Tumakuru, Chitradurga-Haveri and Bengaluru-Dindigul (Tamil Nadu).
Extracted from The Hindu, Mar 31,’15
|277|| Railways to set up company to promote development projects in Karnataka|
According to Indian Railway minister Suresh Prabhu, a company will be set up in Karnataka to promote development of railway projects. Mr. Prabhu said that Union and State governments would collaborate to set up the company.
Extracted from The Hindu, Apr 01,’15
|278|| Snapdeal buys e-commerce management firm Unicommerce|
Online marketplace Snapdeal.com, promoted by Jasper Infotech Pvt. Ltd, has bought Unicommerce eSolutions Pvt. Ltd, an e-commerce management software and fulfilment solution provider, for an undisclosed amount. The acquisition of Unicommerce will help Snapdeal manage everything from vendors to inventory and from warehouse to shipment and returns.
Extracted from Livemint.com, Mar 31,’15
|279|| Mobile commerce may overtake e-commerce soon: KPMG|
Mobile commerce is likely to overtake e-commerce in the next few years, spurred by the continued uptrend in online shopping and increasing use of mobile apps, says an industry report. It is estimated that the mobile app download would grow six-fold by the end of this year to 9 billion apps," said a KPMG report, adding the country has been the fastest growing mobile app market in both 2014 and 2013.
Extracted from ET, Mar, 29,’15
|280|| Amazon in talks to buy online luxury retailer Net-a-Porter: Forbes|
According to Forbes, Amazon.com is in talks to buy online luxury retailer Net-a-porter, but the negotiations are in early stages and could fall apart. Net-a-Porter is owned by luxury goods group Richemont (CFR.VX), which bought the London-based company for 392 million euros in 2010.
Extracted from ibnlive, Mar 27,’15
|281|| Northeast India to get ready-made garment units|
The Indian government is planning to set up ready-made garment manufacturing units in each of the eight northeastern states. National Building Constructions Corp would set up the units in Assam, Arunachal Pradesh, Manipur, Meghalaya, Nagaland, Mizoram, Sikkim and Tripura. The textile ministry has decided to provide Rs.18 crore for each ready-made garment manufacturing unit called 'Apparel and Garment Unit' (AGU) in the northeast.
Extracted from Prokerala, Mar 25,’15
|282|| Union government approves 10 FDI proposals worth Rs. 2,858 cr|
The Union government has approved 10 proposals for foreign direct investment (FDI) amounting to Rs. 2,857.83 crore. Few of them are, Air Works India (Engineering) Private Ltd’s proposal for increasing foreign equity investment (Rs. 40 crore); Ostro Energy's proposal to invest Rs. 1,400 crore over four-five years in wind energy assets in India via downstream investment; IPCA Laboratories’ proposal for FII investment up to 35 per cent (Rs. 900 crore); and Syngene International, Bangalore's approval for 10 per cent foreign equity participation in the company (Rs. 380 crore).
Extracted from HBL, Mar 25,’15
|283|| India to grow at 7.8% in 2015-16, surpass China: ADB|
According to Asian Development Bank (ADB) report, the Indian economy will grow by 7.8 per cent in 2015-16 on the back of improved performance in industry and services. India’s growth momentum is expected to build to 8.2 per cent in 2016-17, ADB Country Director M.Teresa Kho. Also, India is expected to grow faster than China in the next few years, said ADB Chief Economist Shang Jin-Wei.
Extracted from HBL,Mar 24,’15
|284|| Woodland forays into eyewear segment|
Woodland has entered into the eyewear segment with a range of products that will target outdoor and adventure sports fanciers. The company will initially launch this range of products in 10-15 stores located in the key metros as well sell them through the online channel.
Extracted from HBL,Mar 24,’15
|285|| Union government plans 10 urea plants in coal-rich states|
The Union government is planning to set up at least 10 new Urea production plants in coal rich states which includes Chhatisgarh, Jharkhand, Bihar, West Bengal, Maharashtra, Uttar Pradesh and others where coal is available in large quantities will host the new Urea plants. The first of those 10 plants will be set up in Vidarbha’s Chandrapur district. This will be the joint venture of Rashtriya Chemicals & Fertilizers and Coal India.
Extracted from The Hindu, Mar 23,’15
|286|| India's economy likely to grow 8% in next fiscal: Fitch|
According to Fitch’s Global Economic Outlook, India is the only BRIC country, where growth will accelerate, to 8 per cent in FY16 and 8.3 per cent in FY17. The forecast has been made taking in reference the revised GDP data series. The agency's earlier forecasts were 6.5 per cent for 2015-16 and 6.8 per cent for 2016-17.
Extracted from ET, Mar 22,’15
|287|| Dairy sector expected to grow by 15.6% in FY16: India Ratings & Research|
According to India Ratings & Research, while domestic milk prices have remained firm during FY15, the demand for milk and milk products have remained high. The report further said that the dairy sector grew 12.6 per cent year-on-year (yoy) in FY13 and India Ratings expects it to grow at 15.6 per cent in FY16. India Ratings expects GDP to grow at 6.5 per cent and agriculture at 2 per cent in FY16.
Extracted from BS, Mar 20,’15
|288|| Car sales growth to accelerate to 7 per cent in FY16: ICRA|
Improvement in customer sentiment and new model launches will push up car sales growth to up to 7 per cent in FY16 and further to 8-10 per cent the year after, rating agency ICRA reports.
Extracted from ET, Mar 20,’15
|289|| Logistics set for rapid growth in India|
India’s logistics sector is poised for accelerated growth, led by GDP revival, ramp up in transport infrastructure, e-commerce penetration, impending GST implementation, and other initiatives like ‘Make in India.’ This offers opportunities across the spectrum for companies in transportation, storage, distribution, and allied services, according to a report by Motilal Oswal Securities Ltd. Empirical evidence suggests the Indian logistics industry grows at 1.5-2 times the GDP growth.
Extracted from FE, Mar 18,’15
|290|| Himachal to grow at 6.5%: Economic Survey|
The economy of Himachal Pradesh state is expected to grow 6.5 per cent in the current financial year, a notch less than the national growth of 7.5 per cent. The per capita income is expected to be at Rs 1,04,943 crore in the current financial year. The gross state domestic product (GSDP) at current prices is estimated to touch Rs 85,841 crore.
Extracted from BS, Mar 17,’15
|291|| Pharma companies will soon be rated by USFDA|
Indian pharmaceutical companies will soon be rated by the US on the basis of quality parameters met by them. The US Food and Drug Administration (US FDA) is working on developing quality metrics to categorise drug companies according to their adherence to norms, which will determine how they are perceived by buyers. The metrics will be applied on firms across the world, including the US. USFDA is working with its regulatory counterparts around the world.
Extracted from HBL, Mar 18,’15
|292|| Snapdeal to invest up to $200 million on logistics in next 1 year|
Snapdeal will invest $150-200 million in the next one year on logistics. The key to the logistics play would be quality of service, timeliness of delivery and cost. Besides, Snapdeal has been scouting for acquisitions in mobile technology and supply chain space. It has invested in setting up fulfillment centres to smoothen its delivery operations. At present, it has 50 such centres across 20 cities and plans to expand this to 75 in 30 cities over the next few months.
Extracted from BS, Mar 17,’15
|293|| Maharashtra GSDP likely to grow at 5.7 pct; agriculture rate declines; survey|
Maharashtra’s Gross State Domestic Product (GSDP) is expected to grow at 5.7 per cent during 2014-15, according to the state Economic Survey. The survey, however, says agriculture and allied activities is expected to show negative growth as fluctuations in rains have adversely affected the sector. Further, Forestry sector is expected to grow at 7.3 per cent over the previous year while fishing sector is expected to grow at 2.6 per cent.
Extracted from FE Mar 17,’15
|294|| Snapdeal to acquire GoJavas for Rs.200 crore|
Snapdeal which has raised about $1 billion last year, including $ 627 million from Japan’s SoftBank, has been scouting for acquisitions in mobile technology and supply chain space. Snapdeal co-founder Kunal Bahl had indicated that the target companies would be across sizes, ranging from less than $ 1 million (about Rs 62 lakh) to $ 100 million. Further, Snapdeal is in talks to acquire logistics firm GoJavas in a deal estimated to be about Rs.150-200 crore. Snapdeal is also expected to announce the acquisition of the former logistics arm of e-tailer Jabong in the next two weeks.
Extracted from The Hindu, Mar 16,’15
|295|| Meru Cabs to raise $150 million|
Meru Cabs, Taxi service provider, is planning to raise $150 million (around Rs.950 crore) from existing and new investors in a bid to expand its services to new regions. According to CEO Siddhartha Pahwa, Meru plans to raise $50 million from its existing private equity investor India Value Fund Advisors (IVFA), and the part of $100 million will come from other PE firms. The taxi market in India is expected to grow to $28 billion by 2020, according to a study by Morgan Stanley.
Extracted from HBL, Mar 16,’15
|296|| ITC to set up 20 factories for its FMCG business|
ITC is planning to set up 20 factories for its FMCG products. The company's FMCG business includes cigarettes, foods, lifestyle retailing, personal care, education & stationery, safety matches and agarbattis.
Extracted from BS, Mar 14,’15
|297|| Chhattisgarh's economy to grow by 13.20%; Chief Minister|
According to Chhattisgarh Chief Minister Raman Singh, Chhattisgarh's economy is estimated to grow by 13.20 percent during the financial year 2014-15. He insisted while tabling the Economic Survey for 2014-15 in the Chhattisgarh Legislative Assembly before the presentation of budget estimates for the year 2015-16. The corresponding growth rate for India is likely to be at 11.59 percent.
Extracted from BS, Mar 12,’15
|298|| 575 projects registered for GRIHA ratings for green buildings; GRIHA Council's Vice President|
According to GRIHA Council's Vice President Amit Kumar, about 575 projects, covering 21 million square meters, are registered for certification under the GRIHA, a national rating system for green buildings in India. Further, he insists that it is expected that more than 150 projects will be further added in this year.
Extracted ET, Mar 12,’15
|299|| A.P. plans international airport near Vizag|
The Andhra Pradesh state government is planning to develop a Greenfield international airport at Bhogapuram, near Visakhapatnam. According to Andhra Pradesh state Finance Minister Yanamala Ramakrishnudu , no frill airports are proposed at Nagarjuna Sagar, Guntur district and Donakonda in Prakasam district. Regional airports are to be developed in Kuppam, Chittor district; Dagadarthi in Nellore district; and Orvakallu in Kurnool district. Besides, the airports in Tirupati, Vijayawada and Rajahmundry are to be modernized in international standards.
Extracted from The Hindu, Mar 12,’15
|300|| Mahindra Two Wheelers, Paytm tie up to sell bike, scooter online|
According to Mahindra Two Wheelers Vice President (Sales and Customer Care) Dharmendra Mishra, Mahindra Two Wheelers and mobile commerce platform Paytm have entered into a partnership for online retailing of Mahindra Centuro motorcycles and Mahindra Rodeo UZO range of scooters. Consumers can now buy both models on the Paytm marketplace.
Extracted from DC, Mar 11,’15
|301|| Twenty hydro projects with 11,000 MW capacity awaiting environment clearances|
According to Union Minister of Environment and Forests, Prakash Javadekar, there are twenty hydro power projects, including 12 projects in Arunachal Pradesh, are awaiting environmental clearance from the central government. He further states that, Arunachal Pradesh alone accounting for 9,266 MW, Himachal Pradesh (425 MW), two in Jammu and Kashmir (1,220 MW) and one each in Karnataka, Sikkim and Uttarakhand (110 MW and 108 MW respectively).
Extracted from domain-b.com, Mar 11,’15
|302|| Tenon Group eyes acquisitions in India|
According to Tenon Group Chairman, Manjit Rajain, the group, an integrated facility management and security business conglomerate, is keen on acquisitions in Asia, especially India, and the UK. The company, listed on the London Stock Exchange through its parent Mortice Ltd, is also planning an initial public offering (IPO) in India.
Extracted from HBL, Mar 10,’15
|303|| Economy to grow 6.5% in 2015 as macroeconomic conditions improve; McKinsey & Company |
According to McKinsey & Company, the Indian economy is likely to grow around 6.5 per cent in 2016 as macroeconomic conditions seem to be improving on the back of lower crude prices and easing inflation. The company states that the consumer price index-based inflation rose to 5.11 per cent in January 2015, from 4.28 per cent in December 2014.
Extracted from HBL, Mar 10,’15
|304|| First Solar plans to set up dedicated power plants for industrial use|
First Solar, US-based solar power projects developer, is planning to set up dedicated solar power plants in India for industries and commercial outfits. According to country head, Sujoy Ghosh, the company would set up 5,000 MW of green energy projects in India by 2019. Further, he states that the company is currently establishing 200 MW of solar power projects in Andhra Pradesh and Telangana.
Extracted from BS, Mar 10,’15
|305|| Odisha to identify sites for 20 mega food parks|
The Odisha government is in the process of identifying 20 locations for development of mega food parks in the state. The Odisha Industrial Infrastructure Development Corporation (Idco) and Odisha Small Industries Corporation (OSIC) have been ordered to undertake the techno-feasibility study for the food parks and submit the report in one month. While Idco will prepare techno-feasible report for 15 mega food parks, OSIC will undertake the task for five parks.
Extracted from BS, Mar 10,’15
|306|| Five cement plants to come up in Rajasthan|
Five new cement plants will be set up in Rajasthan. The mines department has issued a letter of intent (LOI) to the firms and submitted the application for approval from Union government. Three LOI have been given for blocks at Chittorgarh while two are issued for the blocks in Jaisalmer district. The proposals of all the five blocks have been sent to Geological Survey of India (GSI). After receiving nod from them, all companies will be allowed to start their plants. Approximate cost of the project is around Rs.10,000 crores.
Extracted from TNN, Mar 09,’15
|307|| IRCTC ties up with Amazon|
According to Indian Railway Catering and Tourism Corporation (IRCTC) PRO Sandip Dutta, IRCTC has appointed Amazon.in as its preferred online shopping partner for a period of two years. Through IRCTC portal, customers can now buy products like consumer electronics items, books, shoes, apparels, pet supplies, musical instruments and many more from Amazon.in.
Extracted from TNN, Mar 08,’15
|308|| Fuji Electric eyes smart city, energy management projects|
According to Kazuhiko Hanaoka, General Manager, Fuji Electric, Power & Social Infrastructure Group, the company is in the process of identifying smart city projects that are coming up in the state of Andhra Pradesh, to offer their solutions. Further, he insisted that the renewable energy sector, which is posed to grow in India would give them big opportunities to provide integration services. Besides, Alok Chandna, Site Project Leader, Fuji Electic India, has said that the focus now is on new projects which would come up for offer with the proposed smart cities.
Extracted from HBL, Mar 07,’15
|309|| Karnataka to get six more incubation centres for MSME|
According to Kalraj Mishra , Union Minister for MSME, the Union Government has decided to increase the number of incubation centres in Karnataka from four to 10 as part of its efforts to boost the micro, small and medium enterprises (MSME) sector.
Extracted from BS, Mar 08,’15
|310|| Brick Eagle eyes investments in Karnataka, Kerala and Rajasthan|
Brick Eagle, global private equity firm, has already acquired stakes in five developers, including DBS, Playtor, Olympeo, Sheltrex and Xrbia, which have a presence in states like Maharashtra, Gujarat and Tamil Nadu. Further, it plans to enter it in to Karnataka, Kerala and Rajasthan to fuel its expansion in the country. The company plans to raise USD 100 million to fund these investments and also to acquire land parcels for developing affordable homes.
Extracted from ET, Mar 08,’15
|311|| Ozone Group set to raise Rs 250 crore to fund expansion in Bengaluru|
According to Ozone Group CEO, Srinivasan Gopalan, the group is in the process of launching its new project at Bengaluru during September this year. The project, spread over 4 acres land on Magadi Road, about 7 km from M G Road, will have around 700,000 square feet area. The group, backed by Urban Infrastructure Venture Capital Ltd, is set to raise around Rs. 250 crore to fund its expansion projects.
Extracted from BS, Mar 06,’15
|312|| Alstom sees big opportunities in ultra mega power projects|
According to Rathin Basu, Country President, Alstom India and South Asia, Alstom India sees a good business opportunity in the Centre’s plan to set up five ultra mega power projects (UMPPs) through competitive bidding. The five projects are likely to see investments of Rs.1 lakh crore and Alstom will be keen to bid for the supply of electrical equipment and setting up of the transmission and distribution systems.
Extracted from HBL, Mar 06,’15
|313|| India to add 1,00,000 MW clean coal tech-based power capacity|
According to GlobalData, India is expected to add more than 1,00,000 MW clean coal technology-based power generation capacity during the 2016-2025 period. The report further states that, India's clean coal capacity is expected to increase by approximately 103 GW (1,03,000 MW) between 2016 and 2025, as the country seeks to meet its electricity demand.
Extracted from ET, Mar 03,’15
|314|| Toyota signs agreement with Kamarajar Port|
According to a PIB release, Kamarajar Port Limited has signed an agreement with Toyota Kirloskar Motor Pvt Ltd for export of automobile units by making use of the port’s facilities. It is expected the automaker would export around 100,000 vehicles from the port in the next three years.
Extracted from BS, Mar 03,’15
|315|| Telangana to add 1,000 MW of solar capacity|
According to G Raghuma Reddy, Chairman and Managing Director of Southern Power Distribution Company of Telangana, the Telangana government is planning to add 1,000 MW solar power generation capacity within the next 18 months and the state could invite another round of expression of interest for 500 MW capacities. He further said the government is also pursuing and encouraging roof top solar power generation.
Extracted from HBL,Feb 27,’15
|316|| Adlabs Entertainment IPO to open on March 10,’15|
According to SEBI, Adlabs Entertainment, which runs an amusement park, will come out with an initial public offer (IPO) on March 10.The issue will close on March 12. The firm plans to issue 2.03 crore shares including 20 lakh shares offered for sale by the promoter, Thrill Park Ltd.
Extracted from HBL,Feb 25,’15
|317|| Rajasthan, Singapore sign agreement on urban water management|
Government of Rajasthan and Singapore Cooperation Enterprise (SCE) has signed an agreement to build knowledge capabilities on the governance of sustainable water management and develop capabilities in urban water management in the state. According to the agreement SCE will provide assistance in advisory and capacity building programme for water management and recycle of waste water.
Extracted from ET, Feb 25,’15
|318|| Piramal to invest Rs 5K cr on funding construction projects|
According to Khushru Jijina, Managing Director, Piramal Fund Management, the company is planning to invest up to Rs 5,000 crore till March 2016 to finance construction projects. The funds would be utilised to finance projects across five cities, including Mumbai and Delhi NCR, and in future would also look at going to smaller cities like Jaipur, Nagpur and Ahmedabad.
Extracted from BS, Feb 24,’15
|319|| Indian economy seen growing 7.8 per cent next fiscal: DBS|
According to DBS Group, the Indian economy is expected to grow at about 7.5-7.8 per cent in next fiscal beginning April 2015.The report said that, the GDP growth in 2015/16 could be in the range of 7.5-7.8 per cent, lifted by a firm manufacturing sector and robust domestic demand.
Extracted from ET, Feb 23,’15
|320|| Proposed gas price pooling to boost GDP by up to 0.88%|
According to NCAER and GMR Energy, the proposed gas price pooling policy of the government is expected to increase the Gross Domestic Product (GDP) by 0.50-0.88 per cent. The report said that the gas price pooling policy would lead to an increase in GDP of 0.50 per cent or Rs 69,431 crore with a plant load factor of 30 per cent, 0.7 per cent (or Rs 96,107 crore) with a PLF of 40 per cent, and 0.88 per cent (or Rs 1.23 lakh crore) with a PLF of 50 per cent.
Extracted from BS, Feb 22,’15
|321|| India can double share of value added goods to 25% of GDP: PwC|
According to PwC, India can more than double the share of value-added manufacturing to 25% of the GDP in about two decades by improving competitiveness. The report shows that value-added manufacturing can grow to 20% by 2024 and to greater than 25% in 2034 if India can step up its manufacturing competitiveness. It also said that the share of R&D investment in India's GDP will have to grow from 0.8% at present, to 2.4% in 2034.
Extracted from BS, Feb 09,’15
|322|| India outperforms China in manufacturing, services sectors growth in Jan’15|
According to HSBCs Purchasing Managers’ Index, India’s manufacturing and services sectors expanded at a faster pace than China in January 2015. Survey states that, HSBC Emerging Markets Index (EMI) fell to 51.2 in Jan,’15 from December’s 51.7 which was a three—month high.
Extracted from HBL, Feb 05,’15
|323|| Tata group interested to take part in Telangana projects|
According to Tata group, the group has shown interest in participating in many of the flagship projects of Telangana government. These projects include setting up a water grid, and incubation hub, industrial corridors, smart city, solar power park, aerospace Park, housing for the poor and improvement of civic amenities in Hyderabad.
Extracted from BS, Feb 04,’15
|324|| Centre sanctioned Rs 1000 crore for sewage treatment plants in Bihar|
According to Union Water Resources Minister, Uma Bharati, the union government has sanctioned Rs.558 crore to construct one each STP and sewage network at Beoor and Kamaali Chak in Bihar. Besides, the ministry has also sanctioned Rs.453.56 crores for a STP & sewage network in Saidpur.
Extracted from niticentral, Feb 02,’15
|325|| Union Govt okays electronic projects worth Rs 6,500 cr|
According to Union IT and communications minister, Ravi Shankar Prasad, the union government has cleared projects worth Rs. 6,500 crore in the electronic manufacturing sector, proposals for which were received from major domestic and international players. Firms such as General Electric, Bosch, Motherson Sumi and Tata Power SED made 57 proposals worth Rs. 19,000 crore. Of these, the government has cleared 30.
Extracted from BS, Feb 03,’15
|326|| Gujarat set to become major auto hub in 2 years|
Gujarat is set to become the country's major car making hub in two years. The state expects to actually leave behind car manufacturing states like Haryana, Maharashtra and Tamil Nadu with an installed capacity to roll out 10 lakh units annually. Major players like General Motors and Tata Motors are already in Gujarat while the Sanand plant of Ford Motors will be commissioned soon. Suzuki Motor Corporation launched its Rs. 3,000 crore plant at Hansalpur in Jan’15. Gujarat government officials has claimed that Honda Cars is also considering setting up a plant in the state with a capacity to manufacture 1.10 lakh units.
Extracted from Businesstoday, Feb 02,’15
|327|| Economy could be 6% bigger in FY14 with change in base year: India Ratings & Research|
According to India Ratings & Research, the size of the economy in the 2013-14 fiscal could be roughly 6% larger than estimated earlier once the government changes the base year for calculation to 2011-12 from 2004-05. With the change in the base year, the gross domestic product (GDP) at current prices would rise to around Rs. 111,70,000 crore ($1.8 trillion) in FY14. The government is expected to release the first revised estimate of national income, consumption, expenditure, savings and capital formation for FY14 with the new base year by January 31. Advance estimates of national income for 2014-15 would be announced on February 9.
Extracted from FE, Jan 29,’15
|328|| Neyveli plans to acquire power plants in India; coal blocks abroad|
Neyveli Lignite Corporation is planning to add 11,206 MW during the 13th Five Year Plan. It will be achieved through acquisition of power plants in India. Further, it has also plans to acquire coal blocks outside the country. Estimated cost of the project is around Rs. 65,000 crore.
Extracted from BS, Jan 26,’15
|329|| Mahindras plan big push to renewable energy business|
According to Anand Mahindra, Chairman and Managing Director, Mahindra Group, the company is planning to expand its renewable energy business and to invest Rs.4,500 crore ($732.5 million) over the next three-to-four years.
Extracted from The Hindu, Jan 26,’15
|330|| Companies announce major investments at Vibrant Gujarat Summit -2015|
The Vibrant Gujarat Summit -2015 has received many project investments. Few are follows,
* Aditya Birla Group Chairman Kumar Mangalam Birla has announced Rs .20,000 crore investment in the state in cement and other businesses.
* Kalyani Group has announced that it will invest Rs. 600 crore for upgradation and overhaul of Armoured Fighting Vehicles unit at Dholera, Gujarat.
* Japanese auto major Suzuki's new car manufacturing unit in Gujarat, being set up at an investment of Rs. 4,000 crore, will be ready by 2017.
Extracted from BS, Jan 11,’15
|331|| Romania keen to tie up with Indian pharma sector|
According to Nicolae Banicioiu, Romanian Health Minister, has said that the European country will tie up with Indian pharmaceutical companies to research and develop new drugs. Through the agreement , Romania will collaborate with India for license acquisition to sell drugs in Europe.
Extracted from HBL, Jan 09,’15
|332|| Economy to gradually recover in 2015, FY15 GDP at 5.5%: Nomura|
According to Nomura, a gradual recovery is underway for the Indian economy and the country is expected to clock a GDP growth of 5.5 per cent in the current fiscal and 6.6 per cent in FY16.
Extracted from HBL, Jan 05,’15
|333|| 750 MW solar park planned in Banaskantha|
The Gujarat state government is planning a 750 MW solar park at Vav, Banaskantha. The proposal has already been forwarded to the union ministry of new and renewable energy (MNRE). Over 1,400 hectares land has been identified in Vav and talks are on with the state revenue department for its acquisition. The total cost of setting up solar park will be decided after negotiations for the land is complete.
Extracted from TNN, Jan 05,’15
|334|| Manufacturing sector grows gradually in 2014; more growth eyed in 2015|
According to HSBC survey, India's manufacturing sector witnessed a gradual but significant expansion during the year 2014, and ended on a higher note reaching two-year high in December 2014. This gradual expansion is expected to continue further in 2015. India's manufacturing PMI rose to 54.5 in December- 2014, while in the corresponding period a year ago it stood at 50.7
Extracted from BS, Jan 04,’15
|335|| New Asian bank to be operational by year-end|
According to China's ministry of finance, The Asian Infrastructure Development Bank (AIDB), an inter-governmental regional development institution in Asia, is expected to go into operation before the end of 2015.
Extracted from News.webindia123.com, Jan 02,’14
|336|| India’s e-waste business to surpass China|
According to the US-based ReportsnReports.com, the e-waste market in India is expected to grow at a Compound Annual Growth Rate (CAGR) of 26 per cent during 2015-2019, while the e-waste management services market in China is forecast to grow at a CAGR of 19.41 per cent over the period 2013-2018.
Extracted from DC, Dec 31,’14
|337|| New fertiliser units to boost production in next five years |
According to the Union Minister of Chemicals and Fertilizers, Ananth Kumar, the government is going to start and revive at least 6-7 fertilizer plants in next 5 years in both public and private sectors. At present, the ministry is working on reviving the five closed plants of the Fertilizer Corporation of India Ltd (FCIL) and Hindustan Fertilizers and Chemicals Ltd (HFCL).
Extracted from BS, Dec 15,’14
|338|| India likely to improve economic growth to 6.3% in 2016: UN|
According to United Nations’ The UN World Economic Situation and Prospects 2015 (WESP), India’s economic growth is expected to improve to 6.3 per cent in 2016, with the country leading economic recovery in South Asia.
Extracted from The Hindu, Dec 11,’14
|339|| Australia plans mining centre of excellence in India|
Australia is planning a Global Mining Centre of Excellence in India. The centre will be launched together with Gujarat Mineral Development Corporation next year. Australian mining experts will provide training to Indian counterparts in this centre.
Extracted from HBL, Dec 07,’14
|340|| Union government to construct 1,000 km expressways under NHDP-VI|
The union government is planning to construct 1,000 km expressways under the National Highway Development Project (NHDP) including the Delhi-Jaipur Expressway. These projects including Delhi-Jaipur Expressway are at feasibility stage.
Extracted from BS, Dec 08,’14
|341|| Union government wants to create IT hubs in smaller towns|
According to Minister for Communications and IT Ravi Shankar Prasad, the central government wants to create new hubs for information technology (IT) services, particularly in smaller towns across the nation.
Extracted from The Hindu, Dec 05,’14.
|342|| Core sector output accelerates to 6.3% in October 2014|
According to the Union ministry of commerce and industry, the eight (core) sectors output grew 4.3 per cent in the first seven months of 2014-15 fiscal, slightly higher from 4.2 per cent in the same months of last year. During the month, coal production grew 16.2 per cent, closely followed by electricity generation that rose by 13.2 per cent. Production of petroleum refinery products grew by 4.2 per cent compared to the corresponding month of 2013-14.
Extracted from BS, Dec 02,’14
|343|| MediGain to up head count in India|
MediGain LLC, the U.S based company, is planning to increase headcount in India to 1,500 from the current 300 employees by 2016. The company provides revenue cycle management, medical billing and reimbursement services to physician offices, ambulatory surgery centers and hospitals across the U.S. healthcare industry.
Extracted from The Hindu, Nov 28,’14
|344|| Huge opportunity for Indian auto component suppliers|
According to Edelweiss Financial Services, the Indian automobile component industry is going through a huge trend shift and supported by skilled manpower and technological competence, it has the opportunity to become the next automobile ancillary hub in Asia by 2020.
Extracted from The Hindu, Nov 26,’14
|345|| Indian textile sector has potential to cross $500 bn by 2025|
According to Wazir Advisors and PCI Xylenes & Polysters, if the Indian textile industry takes the right steps and gets adequate policy support from the Government, it could cross $500 billion by 2025 from its present size of $ 108 billion.
Extracted from ET, Nov 24,’14
|346|| OECD sees Indian economy growing at 6.5% in 2015-16|
According to Organisation for Economic Cooperation and Development (OECD), the Indian economy is showing signs of a turnaround onbehalf of new reforms made by Prime Minister Narendra Modi. OECD has also said that India's GDP would grow by more than 6.5 per cent in the coming year (2015-16), up from its previous forecast of 5.7 per cent.
Extracted from Domain.b.com, Nov 19,’14
|347|| GAIL signs MoU with Azerbaijan's State Oil Company|
GAIL (India) Ltd has signed a memorandum of understanding with the Republic of Azerbaijan (SOCAR). Under the MoU, the two companies will jointly engage LNG opportunities through capacity booking, LNG procurement and promotion of projects globally. Further, both companies shall also cooperate in optimisation of LNG marketing, sourcing and shipping requirements. In addition, GAIL and SOCAR will pursue business opportunities in upstream assets across the world and joint investment in petrochemical projects.
Extracted from HBL, Nov 03,’14
|348|| Rajasthan government signs MoUs to boost basic infra projects|
The Rajasthan State Industrial Development and Investment Corporation (RIICO) has signed an MoU with RSPCL-Gail Gas Ltd to initiate the process of identification of strategic locations for gas-based industries and setting up of CNG station along the DMIC corridor and state highways. Two MoUs were signed in solar energy sector with SunEdison India and Infrastructure Leasing and Financial Services for establishing solar parks with power generation capacity of 5,000 megawatts each. Another agreement has been signed with Toyota for providing technical training to the youth in the state.
Extracted from TNN, Oct 29,’14
|349|| Centre plans to build rail network on Delhi's Ring Road|
The Urban Development Ministry of India is planning a ring road train network, flyovers, elevated highways and ring roads in New Delhi.
Extracted from HBL, Oct 27,’14
|350|| Govt may set up SPV for Ken-Betwa river linking project|
The Union government is planning a special purpose vehicle for implementing the Ken-Betwa river linking project. The project envisages diversion of surplus water from the Ken basin to the water-deficit Betwa basin. The project would have a dam on Ken River along with a 221-km link canal.
Extracted from HBL, Oct 26,’14
|351|| Govt approves 20 FDI proposals worth Rs. 988.3 cr|
The Union government has approved twenty Foreign Direct investment proposals worth Rs. 988.3 crores. The investment includes that from Equitas Holdings Private Limited, Tamil Nadu and Tara India Fund IV Trust, Mumbai worth Rs. 325 crore and Rs. 305.63 crore respectively. Amneal Pharmaceuticals Company Private Limited’s proposal of Rs. 205 crore to acquire the entire share capital of Epsilon through a share purchase agreement has also been approved.
Extracted from HBL, Oct 24,’14
|352|| Indo-American Chamber of Commerce sets up first American Business Corner in Pune|
The US Commercial Service in association with Indo-American Chamber of Commerce has set-up the first American Business Corner at Pune, Maharashtra. This centre will connect Pune-based companies with the U.S. companies interested in doing business unitedly.
Extracted from HBL, Oct 20,’14
|353|| Two-wheeler industry to grow 8-9% in FY-15, says ICRA|
According to ICRA, the domestic two-wheeler industry could grow 8-9 per cent in FY-15. Further, it would reach a size of 22-23 million units (domestic plus exports) by 2016-17.
Extracted from HBL, Oct 12,’14
|354|| Renewable Energy Ministry targets 100,000 MW capacity in next 5 years|
According to Upendra Tripathy, Secretary, MNRE, the Union Ministry of New and Renewable Energy has set a target to reach 100,000 MW generation capacity by 2019. To attract investments, the Ministry will host a global investor meet in Feb’15 in partnership with Confederation of Indian Industry and Federation of Indian Chambers of Commerce and Industry.
Extracted from HBL, Sep 30,’14
|355|| India can become major export hub by 2030: HSBC|
According to HSBC, India has the potential to become the world’s fifth-largest exporter of goods by 2030. The report has also said that the UAE is likely to remain India’s top export destination by 2030, and China would become the second-largest export market, displacing the US.
Extracted from HT,Sep 16,’14
|356|| Govt plans to add 15,000 km new pipelines under national gas grid programme|
The Union government is planning to add another 15,000 km of gas pipelines to its existing 15,000 km gas pipelines. The project will be executed through public private partnership (PPP).
Extracted from The Pioneer, Sep 03,’14
|357|| China to develop industrial parks in Gujarat, Maharashtra|
According to Chinese Consul-General Liu Youfa, China is planning industrial parks for automobile sector and power sector at Pune, Maharashtra and Ahmedabad, Gujarat respectively. The Pune project is scheduled to be completed by 2026 in three stages, the first phase will be completed by 2017. The estimated total cost of the project is $5 billion.
Extracted from The Hindu, Sep 03,’14
|358|| Oil and Natural Gas Corp Videsh Ltd signs agreement with Argentinian firm YPF SA|
ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corp (ONGC), has signed an agreement with Argentinian energy firm YPF SA, for jointly investing in oil and gas fields in Latin American nation and other regions.
Extracted from PTI,Sep 03,’14
|359|| Identify site for solar park in Odisha: Centre to state|
The Union government has asked the Odisha government to identify site for a solar power project or park in the state. According to the union government, the parks have to be developed by the state government or public sector undertaking (PSU) company. If required, the state can also go for a joint venture with Solar Energy Corporation of India.
Extracted from TNN , Sep 03 ,’14
|360|| GMR Infrastructure signs MoU with JBIC|
GMR Infrastructure Ltd has signed a memorandum of understanding (MoU) with Japan Bank for International Corporation(JBIC) for providing financial assistance to Japanese companies investing in infrastructure projects of GMR Group.
Extracted from Livemint, Sep 02,’14
|361|| Tata Motors bags order for 2,700 buses|
Karnataka State Road Transport Corporation (KSRTC) and Himachal Road Transport Corporation (HRTC) has issued an order to Tata Motors for supply of 487 and 780 Tata Marcopolo built buses respectively, under JnNURM — II scheme.
Extracted from The Hindu ,Sep 02,’14
|362|| Karnataka aims Rs 10,000 cr investment in textiles|
The Karnataka government is planning to attract Rs 10,000 crore investments in the textile sector during the five-year period of the new textile policy from 2013 to 2018. The state government has encouraged setting up of smaller textile parks in various districts such as Bagalkot, Belgaum, Bijapur, Chamrajnagar, Chikkaballapur and Mysore. A mega textile park is also being planned on a 1,000-acre plot in Yadgir.
Extracted from BS, Aug 31,’14
|363|| India’s GDP rises 5.7% in April-June, fastest growth in 9 quarters|
According to central statistics, India’s economy has grown 5.7% annually in the June’14 quarter, up from the previous quarter's 4.6% expansion and 4.7% growth a year earlier. Growth in the April-June’14 period is the highest since 2012.
Extracted from TNN, Aug 30,’14
|364|| UK team evinces interest in investing in renewable energy projects in AP|
According to a statement from the Andhra Pradesh Chief Minister's Office, the UK Secretary of State has expressed interest in collaborating in the areas of renewable energy, gas grids and infrastructure in the state.
Extracted from HBL Aug 27,’14
|365|| Andhra Pradesh Government to go ahead with green corridor plans|
The Andhra Pradesh government is planning to produce 5,000 MW solar power and 4,000 MW wind power through joint ventures by 2019. NTPC Ltd and NVVN Ltd are also planning to build solar power projects with a capacity of 1,000MW in Andhra Pradesh.
Extracted from efytimes, Aug 26,’14
|366|| India must increase milk production by 7.8 MT: NDDB|
The National Dairy Development Board (NDDB) has said that India must increase the average incremental milk production from 4 million tons in the last 10 years to 7.8 million tons by 2022.
Extracted from HBL, Aug 26,’14
|367|| Bosch forays into healthcare segment|
Bosch has launched new eyescreening and detection system, which offers a combination of hardware and software and provides affordable eyecare.
Extracted from DC, Aug 25,’14
|368|| L&T to bid for bullet train project|
Larsen & Toubro (L&T) is planning to bid for the government’s bullet train project. The company is already in talks with global bullet train manufacturers and technology suppliers for tie-ups. Besides, L&T has emerged as the lowest price bidder for the Sardar Vallabhbhai Patel’s Statue of Unity project in Gujarat, though the contract is yet to be awarded.
Extracted from The Hindu, Aug 23’14
|369|| Government to spend about Rs 69,500 crore on IT, telecom, infrastructure by 2019|
The Union government is planning to spend Rs 69,524 crore on various IT and telecom projects under the Digital India programme. The government will invest in the areas of optical fibre network, broadband network, and mobile network coverage. The project will be completed by 2019.
Extracted from PTI, Aug 22,’14
|370|| India’s steel production grows by 1.7% in July’14|
According to World Steel Association, global steel production has grown on an average of 1.7 per cent in July’14. India's production has also grown by 1.7 per cent to 6.96 million tonnes from 6.84 MT in 2013.
Extracted from PTI, Aug 22,’14
|371|| Claris Lifesciences gets regulatory nod for new plant|
Claris Lifesciences has received approval by the UK health regulator, Medicines and Healthcare products Regulatory Agency (MHRA) for its newly commissioned plant in Ahmedabad. This will help in enhancing capacities to grow in regulated markets, especially the European Union
Extracted from PTI ,Aug 21,’14
|372|| Telecom industry to benefit from e-commerce boom: Google India and A T Kearney|
According to Google India and A T Kearney, Indian e-commerce companies will be able to drive the next phase of growth for the telecom companies , wherein they would be able to generate additional revenue of Rs. 48,000 crore and EBIDTA of Rs. 17,400 crore by 2017.
Extracted from HBL ,Aug 21,’14.
|373|| Autonomous body to oversee 100 smart cities project|
The Union Ministry of Urban Development is planning to create an autonomous body, with the task of overseeing the ambitious 100 smart cities project that is coming up in the country. In the recent Budget, Finance Minister Arun Jaitley has allocated Rs 7,060 crore for the smart cities project for 2014-15 fiscal.
Extracted from HBL , Aug 21,’14
|374|| Indian e-commerce may spend $500-1,000 mn on infra, logistics: Assocham and PricewaterhouseCoopers (PwC)|
According to Assocham and PricewaterhouseCoopers (PwC), the Indian e-commerce industry is expected to spend an additional $500 million to $1,000 million on infrastructure, logistics and warehousing, leading to a cumulative spend of $950 million to 1,900 million till 2017-2020.
Extracted from IANS Aug 19,’14
|375|| Infra Projects Worth 50,000 Cr Awaits PM’s Nod|
Promoters of major infra projects have approached the Narendra Modi government for speedy resolution for long-delayed public infrastructure projects like the Bangalore-Mysore Expressway and the Hyderabad Metro Rail project. The project monitoring group under the Cabinet Committee on Investments is looking at ways of eliminating the bottlenecks that are holding back investments of around Rs 50,000 crore.
Extracted from Masterbuilder Aug 19,’14
|376|| Indian MedTech industry could touch $50bn, says CII|
According to Confederation of Indian Industry (CII), the medical technology industry in India to grow upto $50 billion by 2025, compared to $6.3 billion in 2014.
Extracted from HBL, Aug 17’14
|377|| Centre to invite bids for smart cities and integrated industrial townships |
The Union government is planning to invite tenders for its smart city projects by Novemer’14 . Further, the government has also plans to invite tenders for its integrated industrial townships in Greater Noida and Vikram Udyogpuri in Madhya Pradesh along the Delhi-Mumbai Industrial Corridor (DMIC) by March ’15.
Extracted from ET, Aug 18,’14
|378|| Binny Ltd to acquire windmill and set up spinning unit|
Binny Limited is planning to acquire windmill farm of 37.20 MW from Mohan Breweries and Distilleries Ltd, and lease out 18 MW Biomass power plant owned by Nandha Energy Limited. The process of preparing feasibility study for setting up spinning mills is going on.
Extracted from BS ,Aug 14,’14
|379|| Ministry of Agriculture has signed MOUs with 52 countries|
The Union Ministry of Agriculture has signed MOUs/Agreements with 52 countries to provide better cooperation in the fields of agriculture and allied sectors such as research and development, capacity building, germ-plasm exchange, post-harvest management, value additional/food processing, plant protection, animal husbandry, dairy & fisheries and enhancing bilateral trade.
Extracted from PIB, Aug 13,’14
|380|| Auto sales grow 12% in July’14, cars up 5%, says SIAM|
According to Society of Indian Automobile Manufacturers (SIAM), domestic car sales in July’14 has increased annually 5% to 1,37,873 units as compared to 1,31,257 units in July’13. Also, total two-wheeler sales in July 2014 has raised 13.73% to 12,87,462 units from 11,32,066 units in July’13.
Extracted from BS, Aug 08,’14
|381|| Manufacturing PMI rises to 17-month high in July 2014: HSBC|
According to the HSBC Purchasing Managers' Index (PMI), manufacturing activities in India during July’14 has grown up the most in 17 months (since February 2013) on increased orders. PMI stood at 53 points in July’14 from 51.5 in June’14.
Extracted from BS,Aug 04,’14
|382|| Shipping Ministry to set up new co to develop port rail projects|
The Indian Shipping Ministry is planning to incorporate a new company to undertake rail projects at all government ports. The new entity which will have equity participation from the 12 major ports, is expected to implement all new rail projects and also to undertake the existing rail line operations within the port area.
Extracted from HBL, July 29,’14
|383|| A.P. plans to set up 20 electronic manufacturing clusters in the state|
Andhra Pradesh Chief Minister N. Chandrababu Naidu has revealed design for the development of IT and electronics sector in the state. He has said that 20 electronic manufacturing clusters and 200 industries would be set up in Srikakulam, Vizianagaram, Visakhapatnam, Kakinada, Guntur, Nellore, Chittoor, Anantapur and Tirupati, while a mega electronic hub would come up in Visakhapatnam and a hardware park at Kakinada.
Extracted from The Hindu , July 29,’14
|384|| Centre to help AP generate 4,000 MW of solar power|
The Union government will help Andhra Pradesh government to add 4000 MW solar power project by 2016. Further, plans are on the anvil to make Anantapur district as the solar power hub of the country.
Extracted from HBL, July 27,’14
|385|| India plans biggest solar auction of 1,500 Megawatts|
The Union government is planning a 1500 MW grid-connected solar photovoltaic power project. Tenders will be floated shortly.
Extracted from Bloomberg, July 24,’14
|386|| FIPB clears 19 FDI proposals entailing Rs 2,327 crore investments|
Foreign Investment Promotion Board (India) has cleared 19 FDI proposals including that of Walt Disney Company and Reckitt Benckiser (India) entailing total investments of Rs 2,326.72 crore. However, it has rejected an investment proposal of Multi-Commodity Exchange of India (MCX).
Extracted from TNN, July 24,’14
|387|| Indian government to sell 5 per cent stake in SAIL|
The Union government is planning to sell five per cent stake in Steel Authority of India during the fiscal year 2014-15.
Extracted from ET, July 25,’14
|388|| Indian Govt clears 49% foreign investment cap for insurance sector|
The Union cabinet has cleared a bill to raise the foreign investment limit in private insurance companies from 26 per cent to 49 per cent in the country. The bill has inserted a provision that the management and control of these companies must be with Indians.
Extracted from BS, July 25,’14
|389|| PwC report forecasts boost for India’s construction sector in 2015|
According to PwC, India’s construction sector is to grow at 7-8 per cent each year over the next 10 years from 2014. The report highlights that the total construction market in India for fiscal year ending March 2014 is $157 billion, an increase of $4 billion over FY2013.
Extracted from HBL, July 22,’14
|390|| Procurement from small sector may be made mandatory for mega projects in Telangana|
The Telangana Government would make it mandatory for mega industrial projects to procure a certain part of their requirements from the local small-scale industry. The proposed new industrial policy is likely to provide for such a provision.
Extracted from HBL ,July 22,’14
|391|| Indian electronics sector received investment of Rs 80,000 crores|
The central government has received fresh investment proposals of about Rs 5,000 crore in the field of electronics manufacturing, taking the cumulative amount to about Rs 80,000 crore till June 2014.
Extracted from BS, July 21,’14
|392|| Auto components industry to grow by 4-6 per cent this fiscal: ACMA |
According to ACMA, Auto components industry is expected to grow 6 per cent in the fiscal 2014-15. The sector, which saw a dip of 2 per cent in turnover to Rs 2,117 crore in 2013-14, is pinning hopes on the resurgence of vehicle sales in May and June 2014.
Extracted from ET, July 17,’14
|393|| Telangana to make available 3 lakh acres of land for industry |
To attract industrial investments in the state, Telangana govt will make available about 3 lakh acres of land. The Government will also create excellent infrastructure facility on these lands.
Extracted from HBL, July 18,’14
|394|| Telangana CM promises to clear investment proposals in 2-3 weeks|
The Telangana government has announced that it will clear any investment proposal in two to three weeks through single window system.
Extracted from Yahoofinance, July 15,’14
|395|| Hiring activity rises 22 pc in June this year: Naukri.Com|
According to Naukri.Com, hiring activity in India has raised 22 per cent in June 2014. The Naukri Job index for June 2014 stood at 1,570, showing a 22 per cent increase in hiring activities compared to June 2013.
Extracted from BS, July 16,’14
|396|| FDI proposals worth Rs.2,327 cr cleared|
The Union government has cleared 19 foreign direct investment (FDI) proposals worth Rs.2,326.72 crore. The proposals include those from Walt Disney Company and Reckitt Benckiser India.
Extracted from The Hindu, July 16,’14
|397|| Government of Rajasthan to set up a JV Company with NBCC|
Government of Rajasthan is planning to set up a joint venture (JV) company with National Buildings Construction Corporation Limited (NBCC) to execute various re-developmental works and construction projects in Rajasthan.
Extracted from BSE, July 15,’14
|398|| Industrial growth at 19-month high in India: Survey|
According to Central Statistics Office, Industrial production is at 19-month high in May 2014. The Index of Industrial Production (IIP) for April-May 2014 period has grown 4 per cent, compared to same period in 2013.
Extracted from HBl,July 14,’14
|399|| Indian M&A deals jump 47% to $17.1 bn in H1 (2014): Report|
According to Mergermarket report, mergers and acquisitions (M&As) in India found a substantial jump in the first six months of 2014 to $17.1 billion, up over 47 per cent year-on-year.
Extracted from HBl ,July 14,’14
|400|| AP to have new industrial policy soon|
The government of Andhra Pradesh is planning a new industrial policy incorporating 11 sub-sectors such as IT, tourism etc. The policy will be announced shortly.
Extracted from HBL, July 11,’14
|401|| Industrial production up 4.7% in May, highest since Oct '12|
The strong performance by the manufacturing and electricity sectors made the country’s industrial output to reach 4.7 % in May 2014, compared to 2.5 % during May 2013.
Extracted from TNN, July 12,’14
|402|| Government readies Rs 50,000 crore equity fund for power sector|
The Union government is planning a Rs 50,000 crore equity fund for the power sector to provide 24x7 electricity supply. Simultaneously, the government is also working an asset reconstruction company (ARC) for the power sector.
Extracted from TNN, July 12,’14
|403|| Rajasthan government plans to set up model schools |
Rajasthan government is planning to set up model schools from class 1 to 12 at Gram Panchayat level to improve education infrastructure in the state.
Extracted from ET, July 09,’14
|404|| India’s warehousing requirement to grow at 9% in 2019: Knight Frank|
According to Knight Frank, the demand for warehousing space in the country per year will be around 104 million sq ft till 2015 and will entail investments of about Rs.15,000-16,000 crore every year. Also, stated that India’s warehousing requirement is expected to grow at an annual average rate of 9% to 1,439 million sq. ft by 2019 from 919 million sq. ft in 2014.
Extracted from Livemint, July 8,’14
|405|| Govt approves expansion of highways in five states|
The Cabinet Committee on Economic Affairs (CCEA) has approved four- and six-laning of highways covering over 676 kilometres in Uttar Pradesh, Rajasthan, Delhi, Kerala and Andhra Pradesh at a total cost of about Rs 13,987 crore.
Extracted from ET, July 9,’14
|406|| India’s manufacturing services sector growth outpaced China in June: HSBC|
According to HSBC, the manufacturing and services sector growth in India expanded at a faster pace than China during June’14. It also said that stronger output growth has been registered across global emerging markets in the same month
|407|| India to become third largest economy in world by 2030: PricewaterhouseCoopers |
According to PricewaterhouseCoopers (PwC), India will become the third largest economy in the world by 2030. It stated that the speedy rise of the Indian economy with its youth workforce would push it up from being the 10th largest economy in 2013 to the third largest by 2030.
Extracted from PTI, July 5,’14
|408|| World Bank to invest $775 million in clean energy projects across India|
The World Bank is planning to invest $775 million in renewable projects across India, based on the new Union government’s more supportive policy towards clean energy.
Extracted from ET, July 7,’14
|409|| Govt proposes setting up SEZs overseas for chemical industry|
The Indian Government is planning a special economic zone for the Indian chemical industry in Myanmar and Iran. The Union Chemicals and Fertilisers ministry is in talks with Finance Ministry and External Affairs Ministry to take the project to the next level.
Extracted from HBL, July 04,’14
|410|| Services growth hits 17-month high in June’14, shows HSBC survey|
According to The HSBC Services Purchasing Managers' Index, compiled by Markit, India's services sector has raised at its fastest pace in well over a year in June 2014. The survey indicates that the index is at a 17-month high of 54.4 in June , up from 50.2 in May’ 14. This is the biggest one-month rise in the index in last four years .
Extracted from Business Today, July 03,’14
|411|| US companies added 281,000 jobs in June’14: Survey |
According to Payroll processer ADP survey, US business hiring surged in June 2014. The survey says that the private employers have added 281,000 jobs in June, up from 179,000 in the previous month.
Extracted from ET, July 02,’14
|412|| India becomes an investment destination under Modi|
According to the Dean of Harvard Business School (HBS), India become a promising investment destination for foreign companies to do business after the new government formed by Prime Minister Narendra Modi came into power.
Extracted from BS, July 02,’14
|413|| India attracts $38 billion overseas investment from Jan to Mar 2014|
India has received $37.8 billion foreign investment between January and March 2014. RBI data shows that $16.1 billion came in as foreign direct investment during the quarter (Jan –Mar) while another $13.4 billion came in as portfolio investment, taking the total foreign-owned assets in India to $814.8 billion.
Extracted from ET, July 01,’14
|414|| Indian industry positive on economic growth|
According to Confederation of Indian Industry (CII) Business Confidence Index, the Indian companies are expecting economic growth to rebound this fiscal year (2014-15) and inflation to moderate. They are forecasting an increase in investment also.
Extracted from Livemint, June 30,’14
|415|| Chemical industry, the second largest recipient of investments in manufacturing sector: Assocham|
According to Associated Chambers of Commerce and Industry (Assocham), the investment in manufacturing sector is highly dominated by chemical industry in India, ahead of metal and metal product industry.
Extracted from BS,June 27,’14
|416|| Himachal Pradesh government invites investment in hotels|
Himachal Pradesh Chief Minister Virbhadra Singh has invited investment in the state's hospitality industry. The Himachal Pradesh Tourism Development Board (HPTDB) vice-chairman has informed that meetings and seminars in association with Federation of Indian Chambers of Commerce and Industry, The Associated Chambers of Commerce and Industry of India and the Confederation of Indian Industry would be held to invite hoteliers to invest in the state.
Extracted from webindia, June 28,’14
|417|| ITIs for women in Punjab|
The Punjab state government is planning ITIs exclusively for women in the state. The proposal has been agreed by the Indian government.
Extracted from ET, June 26,’14.
|418|| India plans to set up IT, pharma industrial parks in China|
India is planning to set up industrial parks in China, mainly in pharmaceutical and information technology (IT) sectors. The Union Government has issued in-principle approval to sign MoU. Earlier, the two sides have identified five states namely Uttar Pradesh, Andhra Pradesh, Gujarat, Maharashtra and Karnataka, where Chinese industrial parks would be set up in India.
Extracted from HBL, June 26,’14
|419|| Steps to boost fish exports from AP|
The Union Minister of State for Commerce and Industry Nirmala Sitaraman is planning to discuss ways and means to raise fish exports from Andhra Pradesh from Rs 12,000 crore to Rs 20,000 crore in the next five years (2019).
Extracted from HBL, June 23,’14
|420|| The Indian Roads minister to speed up stalled road projects|
The Narendra Modi government is planning to build 30 kilometres of roads a day, for two years (2016) from now, after clearing the backlog of stalled projects. The Minister of road transport and highways also proposes to switch to the EPC (engineering, procurement and construction) mode in place of the public-private partnership (PPP) mode to boost road construction projects.
Extracted from ET, June 25,’14
|421|| India to invite bidding for largest solar power project|
India is about to launch the largest bidding of solar power projects worth 1,500 MW under its flagship Jawaharlal Nehru National Solar Mission (JNNSM). The bidding, which is a part of second batch of the phase 2 of JNNSM, aims to achieve a capacity addition of 10,000 MW by 2017.
Extracted from ET, June 23,’14
|422|| Project Clearances in Key Ministries to go online|
As the newly elected Union government is planning to improve the economy, the Project Monitoring Group (PMG) under the cabinet secretariat is in the process of devising a transparent and timeline-based online system for project clearances in all the key infrastructure ministries. The online system for forest clearances will go online from July 1, 2014 while that of environment clearances will be online by September 1 (2014). The clearances related to the mining sector are expected to be on the web by November 1 while those related to the coal sector by March 1 (2015)
Extracted from New Indian Express, June 24,’14
|423|| AP govt to promote industries|
The Andhra Pradesh (AP) government is planning to develop three mega cities and 12 other cities. The government will come out with a new land development policy to make land owner a stakeholder in the project that would come up on the land acquired.
Extracted from BS, June 22,'14
|424|| Telangana government to invite 160 countries in first industrial summit|
The Telangana government is planning to invite over 160 countries for its first industrial summit. The summit would be held in December 2014 or in January 2015.
Extracted from DC, June 23,'14
|425|| Export centre to be set up in Mysore|
The Mysore Industries Assocation (MIA) is planning to build Mysore Export Centre to facilitate exports from Mysore, Mandya and Chamarajanagar districts. The centre will come up on the Ring road at Hebbal Industrial Area in Mysore. The centre will have a facility to conduct seminars, workshops and to showcase the products on a permanent basis.
|426|| Need big steel projects in eastern India for 300 MT capacity says Steel Ministry|
To achieve the national mission of having steel capacity of 300 MT by 2025-26, Indian Steel Ministry has suggested that mega steel projects need to be set up in states like Jharkhand, Chhattisgarh, Odisha, parts of West Bengal and Andhra Pradesh.
|427|| Sebi to conduct nationwide investors survey|
Capital markets regulator Sebi is planning to conduct an investor survey to assess the savings and investment trends among the Indian households and ascertain the impact and changing dynamics of securities market. The proposed survey will cover the entire country of 29 states and 7 union territories.
|428|| Power Ministry wants Coal India Ltd to sign pacts with power generating firms |
Power projects worth 78,000 MW capacities have been approved for coal supplies by the Cabinet Committee on Economic Affairs (CCEA). Out of 78,000 MW, FSAs (Fuel Supply Agreements) for around 74,000 MW have been signed so far. The Indian Power Ministry has requested the Coal Ministry to ensure that Coal India Ltd signs fuel supply pacts with 10 power units of companies such as Abhijeet, Lanco and DVC for 4000 MW.
|429|| Commerce ministry to completely review free trade agreements|
As the Indian government is focusing to revive the economy, the Commerce Ministry is planning to review the Free Trade Agreements and the Special Economic Zone Companies Act as it carries various blocks.
|430|| Foreign investors pour Rs 26,000-cr in Indian market in June|
Foreign investors invested more than Rs 26,000 crores into the Indian market this month (July 2014) due to reform-oriented decisions taken by the newly elected central government. The net investment by foreign investors into equity markets stood at Rs 10,359 crores, while in debt market it is Rs 15,806 crores - a total of Rs 26,165 crores (USD 4.42 billion) .
|431|| State Bank of India to recruit 7,200 staff in FY15 |
State Bank of India is planning to recruit about 7,200 people in the current fiscal (2014-15). In FY15, SBI is planning to recruit about 1,837 probationary officers and 5,400 assistant officers.
|432|| Corporates commit Rs 35,000-cr investment to Uttar Pradesh|
The Uttar Pradesh state government has received Rs 35,000 crore investment in multiple sectors from the UP investor conclave. Notable investments are Essel Group’s investment of Rs.20,000 crores for setting up urban development, power distribution and solar power projects), Reliance Jio’s Investment of Rs 5,000 crores to roll out 4G broadband services and Amity university’s commitment of Rs 2,000 crores to establish an educational complex in Kanpur .
|433|| Economic outlook turns encouraging for new government|
The industrial growth has rebound and the retail inflation has dropped to a three month low, which is a good news for the new Indian government regarding revival of Indian economy. Also, output from mines, utilities and factories recovered from two straight months of contraction to expand 3.4 percent year on year in April (2014), its fastest pace since March 2013.
|434|| Steel ministry proposes to set up SPVs for project clearances|
The Indian Steel Ministry is planning to create special purpose vehicles (SPVs) to acquire all the government approvals required to start a steel plant, and then hand them over to private entities to go ahead with project implementation. The ministry plans National Mineral Development Corp. (NMDC) to head the SPVs, along with the state mineral development corporation. Initially, ministry wants to roll out the SPV model in four mineral-rich states: Karnataka, Odisha, Chhattisgarh and Jharkhand.
|435|| Flipkart to hire 12,000, Snapdeal too plans to hire |
Flipkart is planning to hire 12,000 people during 2014-15. In engineering alone, the company plans to hire 1,200 people to create a strong team by the end of 2014. Further, Snapdeal is also planning to hire 1,300 people, earlier the company has employed 500 people last year (2013).
|436|| Telangana Govt invites proposals for textile parks|
The Telangana Government has invited proposals from industry associations, entrepreneurs and special purpose vehicles for setting up integrated textile parks under the scheme for Integrated Textiles Park. Under the scheme, the Government will fund 40 per cent of the project cost, with a ceiling of Rs 40 crores.
|437|| 1,370 km national highways to be upgraded in Odisha|
NHAI is planning an upgradation of 1,370 km national highways (NHs) in Odisha . The roads will be developed into four and six lanes under Phase III, IV and V under the National Highway Development Project (NHDP). The estimated cost of the upgradation is around Rs 13,000 crores.
|438|| Ashok Leyland receives an order for 2,200 buses from Govt of Sri Lanka|
Ashok Leyland has received an order from Sri Lankan Transport Board to supply 2200 buses. Company has to supply these buses within the next six months.
|439|| India Inc has strongest hiring plans for next 3 months, Survey Says|
According to The Manpower Employment Outlook survey, the Indian employers have the strongest hiring plans worldwide for the next three months, as the business sentiment is turning positive.
|440|| Narendra Modi's mega investor show: Vibrant India Summit may happen around November|
A Vibrant India global investor’s summit may be held in early November-2014 in Delhi. Key government officials are working with Confederation of Indian Industry ( CII) and other business associations to work out the details of the summit. CII Director confirmed that the idea of a Vibrant India summit is under discussion but it is yet to take a final and formal form
|441|| Oil companies will see significant jump in profit: Crisil|
According to Crisil, the net profit of government-owned oil companies is expected to rise significantly in the current fiscal (2014-2015). The oil explorers such as Oil and Natural Gas Corp. Ltd (ONGC) and Oil India Ltd (OIL ) will see their profit after tax (PAT) rise by Rs.10,500-12,000 crore in fiscal 2015 and by a further Rs.7,000-7,500 crore in fiscal 2016. Also Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation limited are expected to see their PAT surging by almost Rs.3,300-3,600 crore in fiscal 2015 and Rs.700-1,000 crore in fiscal 2016.
|442|| As e-commerce grows big, over 4,000 jobs to be created this year|
As e- commerce is on the rise, a dozen e-commerce firms are set to hire over 4,000 freshers from some of India’s top technical institutions this year (2014). Portals such as commonfloor.com, myntra.com, paytm.com and savaari.com are tapping into Indian Institutes of Technology, Birla Institute of Technology and Science, Indian School of Business and Indian Institutes of Management with pay packages ranging from Rs.12 lakh to Rs.15 lakh a year.
|443|| FII inflows hit Rs 1 lakh crore mark for 2014|
Oveseas investors have invested over Rs 1 lakh crore into the Indian equities since the beginning of the year (2014). As per the latest data compiled by market regulator Sebi, the net investments by Foreign Institutional Investors (FIIs) in Indian equity markets stood at Rs 51,433 crore this year(2014) so far, while the same for debt markets was at Rs 52,115 crore taking the total to Rs 1,03,548 crore (USD 17 billion). These huge inflows included a net investment of Rs 11,625 crore in the first week of June (2014) alone.
|444|| Nasscom inks MoU with CMR University for training programmes|
The National Association of Software Services Companies (Nasscom) has said that it has signed an MoU with the Bangalore-based CMR University (CMRU) to offer measurable training programs to students and enhance employability skill sets of engineering graduates. Under the agreement, CMR University would integrate Global Business Foundation Skills (GBFS) courseware, developed by Nasscom, in its curriculum.
|445|| Indian Oil Corp keen to partner with GAIL in Turkmenistan-Afghanistan- Pakistan-India pipeline project|
Indian Oil Corp is keen to join with GAIL India Ltd for implementation of the Turkmenistan-Afghanistan- Pakistan-India natural gas pipeline. IOC wants to be equal partner with GAIL in the US $ 9 billion project, with equal rights to sell gas imported from the pipeline. The project is scheduled to be completed by 2017-18.
|446|| India in world’s top five nations in solar power capacity|
According to a report by the Renewable Energy Policy Network for the 21 Century (Ren21), India is among the world’s top five nations in concentrated solar power (CSP) technology capacity rankings topped by the US. India is placed fourth, ahead of China.
|447|| NTPC invites bids for 1,320-MW Khargone project in Madhya Pradesh|
NTPC has invited bids for construction of the 1,320-MW Khargone thermal project. The approximate tender value is Rs 7,000 crores. Bids have been sought for EPC (Engineering Procurement and Construction) package for the Khargone super thermal power plant coming up in Madhya Pradesh. The plant will have two units, each having a generation capacity of 660 MW.
|448|| 100 new ITIs to start functioning in Karnataka next month|
The Karnataka government, Minister of State for Labour has said that 100 new Industrial Training Institutes (ITIs) will start functioning next month (July -2104). The ITIs will be set up at various places, including Kampli, Hagari Bommanahalli, Hampasagar, Gudekote and Holalu in Bellary district .
|449|| Bengal will hire consultant to make SMEs friendlier|
The West Bengal government will hire a consultant to inspect and recommend ways to make rules and regulations to make the state friendlier for small scale sector. Further, it is planning to invite EoI (Expression on Interest) for selection of the consultant and will be given 90 days to submit the recommendations.
|450|| Jharkhand rolls out drinking water and sanitation project in 6 districts|
The Jharkhand government has rolled out the Rs 900-crore rural water supply and sanitation project in six districts. The World Bank-aided project will cover 3,435 villages under 567 gram panchayats in Khunti, Palamu, Seraikela-Kharswan, East Singhbhum, Garhwa and Dumka districts.
|451|| Online green clearances to speed up the project approvals: FICCI|
The Indian Government has launched online environment clearances mechanism to make quicker approvals and ensure timely implementation of industrial and infrastructure projects, according to FICCI. Further, FICCI has requested the government to draw a time-bound road map for integrating and digitising all the permissions for setting up the projects under one single platform , which will boost investor confidence and ensure faster delivery of projects.
|452|| Skill Development center also in pipeline at IT City|
The Government of Uttar Pradesh has announced the establishment of a skill development center at the IT City park at Chack Ganjariya. The center will be developed in 10 acres of land and will be equipped with modern facilities. It will also have a hostel facility.
|453|| June hiring to hit four-year high in US, SHRM says |
The U.S. manufacturing and service sectors hiring in June(2014) will reach four-year highs when compared to the same month in the previous year, according to the Society for Human Resource Management. The survey found that 61.4 percent of manufacturing companies plan to hire in June(2014) .
|454|| National Buildings Construction eyes overseas projects|
National Buildings Construction Corporation Ltd (NBCC) is planning to do business overseas and is researching the possibilities of projects in Oman, Botswana and the adjacent countries. The company is planning to open office branches in Botswana and Oman and has tied up with a company in Oman for development of infrastructure projects. It is also looking at opportunities in Sri Lanka, Bangladesh and Myanmar.
|455|| SME funding to get Rs 5,000-cr boost|
The Indian government, with the help of the capital market regulator, is planning to set up a new co - investment fund to fund small and medium enterprises (SMEs) .The fund will have an initial principal of Rs 5,000 crore and would be anchored by two govt-owned financial institutions -Life Insurance Corporation (LIC)and Small Industries Development Bank of India (Sidbi)
|456|| Experts pitch for higher farm investment, major market reforms|
Agriculture experts has asked the Indian government to upgrade farm technologies and issue bonds to fund incomplete irrigation projects, besides focusing on market reforms in the budget. They also preferred a Kissan TV channel, an efficient procurement policy, priority for farm mechanization and the linking of rivers.
|457|| Roads ministry prepares list of 11 projects to be awarded soon|
The Indian roads ministry has prepared a list of 11 road projects worth more than Rs.18,000 crores, that may be awarded within the next six months. The total length of these projects is 1,300 km. The ministry targets to award 8500 km of roads in the fiscal year ending March next year (2015), of which 3,500 km of roads projects are expected to be awarded through the public-private partnership (PPP) mode and the remaining under the engineering, procurement and construction (EPC) mode.
|458|| Petro investment regions attract Rs 1.5 lakh cr|
Petrochemical investment regions in India have so far received about Rs 1.50 lakh crores by the big companies including IOCL, ONGC and Gail . A Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) is a delineated area of around 250 sq km for setting up manufacturing facilities for domestic and export led production.
|459|| BPCL to open an office in Singapore to expand crude oil trading|
Bharat Petroleum Corporation is planning to open an office in Singapore to expand its global reach and to take part in crude oil trading. The Singapore office would also help the company trade in energy derivatives, international financing and other JV that the company may plan in the future.
|460|| MoU to promote business ties between Kerala and Japan|
Indo Japan Chamber of Commerce Kerala (INJACK) has signed an MoU with Yokohama India Centre (YIC) for cooperation in promoting business between Kerala and Japan. With the signing of the MoU between INJACK and YIC, business cooperation in the SME sector is expected to get a boost. INJACK has already identified 50 SMEs in and around Yokohama for business, matching with SMEs in Kerala. Several areas with prospects of cooperation with Japan were proposed by INJACK officials. They include IT, tourism, food processing and healthcare, including ayurveda and care of the elderly.
|461|| Singapore starts its first fully-LNG operated power plant|
Singapore has started its first power plant that fully operates on liquefied natural gas (LNG) . The S$ 1.2 billion plant is located at Jurong Island. In early 2014, Singapore had announced about building a second LNG receiving terminal, in addition to a first terminal with a capacity of 9 million tones, per year by 2017.
|462|| Punjab CM approves new projects for Ludhiana.|
The Punjab chief minister has agreed to add new capacities at Jamalpur, Bhattian and Balloke Sewage Treatment Plants (STP) with an investment of Rs. 270 crore. The chief minister also gave approval for the construction of a new biogas plant in the dairy cluster of Tajpur area over 2.50 acres, to be executed by Punjab Energy Development Agency .
|463|| Cheniere, Gas Natural LNG signs deal worth $13 bln |
Cheniere Energy and Gas Natural Fenosa has signed a 20-year liquefied natural gas (LNG) sale-and-purchase agreement. The deal worth $13 billion, is related to Gas Natural buying 1.5 million tonnes per year of LNG from Cheniere's proposed plant in Corpus Christi, Texas, starting in 2019.
|464|| Glenmark opens antibody manufacturing facility in Switzerland|
Glenmark Pharmaceuticals SA (GPSA), has inaugurated its new cGMP compliant monoclonal antibody manufacturing unit in La Chaux-de-Fonds, Switzerland. This manufacturing facility adds to Glenmark’s existing in-house discovery and development capabilities ,and will supply material for clinical development.
|465|| Oracle, GTU ink MoU for training next-gen IT professionals|
An MoU has been signed between Oracle and Gujarat Technological University (GTU) to integrate Oracle Academy curriculum into the educational programmes of the state’s colleges. This will allow GTU to build a foundation of technology programmes to prepare 35,000 students from 140 institutions in the state for successful careers in IT sector.
|466|| Odisha plans to fast track Rs 3,300 cr health infrastructure projects|
The Odisha government has decided to fast track clearance of health infrastructure project proposals of National Health Mission (NHM) by authorising district level officers to clear the applications. The total cost of the projects involves Rs 3,300 crore and is scheduled to be spend in three years starting 2014-15. According to the plan, decisions have been taken for completion of upgradation of all sub-center buildings by 2017.
|467|| FICCI CMSME and IDBI Bank sign MoU for financing member MSMEs|
FICCI-CMSME, announced a partnership through an MoU to make organized finance facility available for Micro, Small and Medium Enterprises (MSME) across the country at competitive interest rates.
|468|| Iraq says crude oil exports rise slightly in May 2014|
Iraq's crude oil exports increased slightly in May 2014. The oil exports averaged 2.582 million barrels a day last month, an increase from the 2.510 million barrels per day in April’14. The sales stood at $8.068 billion, based on an average price of $100.08 per barrel. April month revenues was $7.582 billion
|469|| Companies poised to hire, say experts|
As a positive impact of new Indian government, it is expected that several stalled projects would take off. Though it may take one or two months for the projects to start, this will result in hiring process to go up. Human resource experts also believe that sectors (infrastructure, manufacturing, financial services, capital goods and raw materials, and oil and gas ) that had reduced hiring, would resume hiring immediately.
|470|| Odisha issues 3 iron ore mining lease renewal orders to SAIL|
The Odisha Government issued three iron ore mining lease renewal orders to SAIL. The lease given for the next 2o years for the mines at Bolani, Barsua and Kalta. Bolani produces 5.5 million tonnes (mt) of ore a year, while Barsua and Kalta’s annual output is 2 mt and 1.2 mt, respectively.
|471|| Giving green nod to defence, public sector projects a priority, says Union environment minister of India|
Union environment minister of India has said that clearing defence projects will be the top priority of the ministry while the projects of individual companies will be considered at a later stage. There are about 5,000 projects which are waiting for environmental clearance. High priority will be given to public welfare aspects related projects.
|472|| HRD minister Smriti Irani pushes for funds to set up 8 new IITs|
The new Human Resource Development minister Smrithi Irani of India met the finance minister for funds to set up eight new IITs. The minster is also seeking funds for other priority projects such as a Central university for Himalayan Technology and a national e-library. The IIT’s would come in the states of Kerala, Karnataka, Jharkhand, Uttarakhand, Goa, Sikkim and Chhattisgarh.
|473|| E-commerce industry in India to create 50,000 new job opportunities in 3 years !|
The e-commerce industry is about to witness large employment opportunities in India due to zealous and assailing expansions, mergers and acquisitions according to human resource consultant firms. It will result in new 50,000 job opportunities in 3 years from now(2014). As there is already a substantial increase in internet users and smartphone users and they keep using electronic media, there is conceivable growth in jobs in this sector.
|474|| Persistant systems inaugurates new office building|
Persistant systems has announced that it has opened new office building adjacent to the existing one in Verna, Goa. The building has been constructed at an area of 3000 square meters and can accommodate 700 staff.
|475|| Osram opens LED plant in China to serve the growing local market|
Osram opened its LED assembly plant in Wuxi, China. The new facility With a floor area of about 100,000 square meters is built to support 2,100 people by 2017.
Osram says the size of country's total general elimination market was about €15 billion in 2013 and it expects the market to rise to about €23 billion by 2019. The share of LED-based lighting is expected to increase from 29% in 2013 to 60% by 2019.
The new facility to assemble LED chips into LED housings. Osram has similar facility at Penang, Malaysia. Osram has LED chip manufacturing unit at Regensburg, Germany, and in Penang.
The Wuxi plant has a capacity to manufacture several billion LEDs per year.
|476|| Govt to Expedite Common Rail Corridor Project|
The Odisha Government has sought support of Ministry of Railways to put the common rail corridor project on the fast track.
Odisha Industrial Infrastructure Development Corporation (Idco), which is the nodal agency, has already incorporated Brahmani Railways Limited, a special purpose vehicle, for implementation of the common corridor project under the non government railway (NGR) model.
The common rail corridor project for Talcher-Angul-Chhendipada coal bearing region aims to cater to the rail transport demand of the coal blocks region. It entails an investment of `5,000 crore in the first project.
To expedite the project, the Government has formed a core committee, headed by Secretary, Steel and Mines Department. Detailed project report for the common corridor has been prepared by Rail India Technical and Economic Service (RITES) while SBI Capital Markets Ltd has been hired to prepare the financial viability of the project and carry out the debt syndication.
Meanwhile, the SBI Capital Markets Ltd has already begun discussions with Ministry of Railways for preparation of the draft concession agreement of the NGR model.
The core committee for the project is slated to meet on May 28 to discuss financial viability as well as the concession agreement draft so that the project can be given a push.
|477|| Union Petroleum Minister Dharmendra Pradhan likely to fast-track PCPIR project at Paradip in Odisha|
Union Minister for Petroleum and Natural Gas Dharmendra Pradhan likely to fast-track Petroleum, Chemicals and Petrochemical Investment Region (PCPIR) project at Paradip in Odisha.
Petroleum, Chemicals and Petrochemical Investment Region (PCPIR) project at Paradip was likely to attract an investment of over Rs 2 lakh crore and generate employment (direct and indirect) locally for more than 50,000 people.
The Cabinet Committee on Economic Affairs (CCEA), Government of India in its meeting held on March 8, 2007 approved the Policy Resolution for setting up of PCPIRs in different parts of the country. The CCEA has approved the proposal for the Government of Odisha for establishing a PCPIR at Paradip covering an area of 284.15 sq km with a processing area of 123.014 sq km in Jagatsinghpur and Kendrapara districts.
The turnover of this PCPIR hub is estimated at Rs 4.23 lakh crore with an export potential of Rs 43,000 crore. The PCPIR hub is expected to generate taxes to the tune of Rs 42,000 crore and contribute six per cent to Odisha Gross Domestic Product (GDP).
IOCL, which is setting up a 15 MTPA oil refinery at Paradip, has been identified as the Anchor Tenant for the Odisha PCPIR. The PCPIR hub at Paradip is expected to attract investment to the tune of Rs. 2.74 lakh crore. But the implementation of PCPIR programme in the state is on the slow lane.
|478|| Antam secures loan to speed up ferronickel smelting project|
PT Aneka Tambang is hoping to complete the expansion of its Pomalaa ferronickel plant in Southeast Sulawesi ahead of schedule, after securing a USD 100 million credit facility with state owned Eximbank.
Mr Tato Miraza president of PT Aneka Tambang said that “After signing the new loan agreement , he hoped to expedite the construction of the ferronickel expansion project so that the company would be able to use the new facility ahead of September next year, as initially planned.”
The project, which was started on February 7th 2013, consists of eight construction packages, namely Jetty and Facilities (package I); belt conveyors (package II); ferronickel plant-1 (package III); ladle furnace (package IV); ore preparation & calcination (package V); electric smelting furnace (package VI); oxygen plant (package VII), and the development of two by 30 megawatt coal-fired power plants (package VIII).
Mr Tato said that currently, Antam has completed 42% of the total construction, which is scheduled for completion in September next year. Antam has completed several of the packages, namely the ladle furnace, belt conveyors, jetty and facilities, while the rest are still ongoing. Antam aimed to have the electric smelting furnace enter commissioning later this year.
He said that the USD 573 million project was expected to increase the ferronickel smelter’s production capacity to between 27,000 and 30,000 tons of nickel in ferronickel (TNi) from between 18,000 and 20,000 TNi previously.
|479|| Shell in Talks to Buy Stake in Southern Andhra Pradesh Project|
Royal Dutch Shell is in talks with the Andhra Pradesh government for buying up to 24 percent stake in the planned Kakinada liquefied natural gas project on the east coast, GAIL chairman B.C Tripathi said
GAIL Gas, a subsidiary of GAIL (India), is a co-promoter of Andhra Pradesh Gas Distribution Company (APGDC) that will build the project in the state.
APGDC will have a 50 percent stake and Gaz de France 26 percent share in the project, leaving the remainder for the new partner.
|480|| Indonesia`s non -oil/gas industry grows 5.56 percent in q1|
Indonesias non-oil/gas industry grew 5.56 percent in the first quarter of this year exceeding the countrys economic growth of 5.21 percent, an official said.
"We are optimistic the countrys industrial growth would cross the 6 percent level this year," secretary general of the industry ministry Anshari Bukhari said.
The industry ministry has set a growth target of 6.5 percent for the countrys industrial sector in 2014.
He said a number of industries such as food and beverage processing industry , transport equipment industry , machine and equipment industry and farm and plantation-based industries are expected to grow strongly.
"The regulation banning exports of mineral ore and coal would have its impact on the growth of metal industry," he predicted.
He said the investment sector both foreign and domestic investment is expected to grow especially as foreign fund is still continuing to flow into the country .
The domestic consumption will also continue to grow and high value of the US dollar against rupiah would stimulate exports of products of agro-industry, he said
|481|| Wind energy sector seeks schemes to attract investment|
The Indian Wind Power Association, which includes wind power investors and generators, has appealed to the Union Government to reinstate the accelerated depreciation scheme which has not been implemented for the last two years.
Association chairman K. Karthurirangaian has said in a press release that the scheme was available for wind energy from 1992 to 2012 and does not require budgetary allocation.
In 2011-2012, wind energy sector attracted Rs. 19,000 crore investments and 3,200 MW was commissioned. In 2012-2013, the investments came down to Rs. 10,200 crore for 1,700 MW.
And, during the last financial year, just 2,100 MW was added.
The wind mill manufacturing capacity is capable of producing 5,000 MW of wind turbines a year and it has not been used to full capacity because of the lack of investments.
Mr. Kasthurirangaian appealed to the Union Government to reintroduce the scheme to attract investments in wind energy.
Further, renewable purchase obligation (RPO) should be monitored and implemented.
|482|| Industry identifies key areas driving growth of food processing sector|
Experts identified key areas for driving growth of the food processing sector during a conference on the future of the food processing industry, organised in New Delhi by the Confederation of Indian Industries (CII).
These included new foods, food service and retail opportunities. An addition to the list was the target of enhancing value addition from the current level of ten per cent to 20 per cent, as proposed by the the Ministry of Food Processing Industries (MoFPI) in its vision document.
The sector also marked supply chain, infrastructure and logistics along with implementation of food safety laws as key components to ensure double -digit growth for the sector while holding deliberations during the meet.
Meanwhile, a report released by CII, in collaboration with Y Factor Marketing Pvt Ltd, reasoned that as processing is low, a significant amount of perishable items get wasted and hence processing needs to be augmented.
Further, the supply chain is multi-layered and leads to large differences between the farm-gate prices and consumer prices. Exports has also not emerged as a major area with most of the food produced being consumed in the country itself.
Abhiram Seth, managing director, Aquagri Processing Pvt Ltd, said, “The industry needs to be more policy-driven than fiscal-driven.”
He pointed out that the processing industry should not limit itself into post-production scenario, but should involve into farming practices so that right variety and yield could be produced.
Seth, however, expressed dissatisfaction over the alleged overreach by the Food Safety and Standards Authority of India (FSSAI) beyond setting standards and stating what to eat and what not?
Rajesh Srivastava, the conference’s chairman, meanwhile, stated that the industry should focus upon increasing processing from the current level of ten per cent to 20 per cent, thereby increasing India’s share in global food trade.
According to the report food processing is still in its infancy, and North India could be a significant player on the national scene, as it is the leading producer of a number of crops such as wheat, mustard, potatoes and sugarcane, and four out of 10 private companies engaged in food processing are based in the northern region, which includes Nestle, GlaxoSmithKline, Kwality Dairy and REI Agro.
New food & retail opportunities
According to the report, rising incomes and increasing urbanisation, along with other driving forces are making profound changes in the food consumption habits of Indian families.
And there is a much greater demand for international cuisines and imported foods. Simultaneously, eating out habits are also changing and developing rapidly, and there is an immense opportunity for the industry to capitalise on the new trends.
New foods are gaining ground with evolution of the health and wellness market. Companies ranging from the agriculture and consumer foods to biotech and pharmacy could tap this market.
Further to add, the Indian food service market was estimated to be worth $48 billion in 2013, and has been projected to grow to $78 billion by 2018 at a compound annual growth rate (CAGR) of 11 per cent. This sector has seen a sustained investment by a number of major players.
Value-added & exports scale-up opportunities
According to the report, with high production, there was an immense opportunity for value-addition, helping expand the export base in world food trade, along with reduction in spoilage.
The report stated that the processing percentage of marine product was a little over 25 per cent, while milk was a highly-processed commodity accounting for 35 per cent. Poultry processing was between 5-10 per cent, while fruit and vegetable processing was at the bottom with less than 5pc.
Fruit and vegetable juices is the area investors could look at. The global fruit juice market was estimated to grow to $90 billion by 2015, while in India vegetable juices have a negligible share.
Mango dominates with a share of almost 90 per cent. Experts opined that orange, pomegranate, orange, apple, chickoo and blends of fruit and vegetables to provide additional growth and diversity to the business.
The report suggested that a higher level of processing and back-end integration were required. Packaging was another aspect that enabled the withstanding of abuse in transit and storage.
India was not amongst the top five agri-product exporters. Smaller countries like Sri Lanka, Kenya, the Netherlands, Japan and Germany were bigger exporters than India. The global food market is estimated to be worth $1,500 billion, and India has an opportunity to double or triple the share in next five years.
Supply chain & logistic opportunity
The report said that the changing scenario in food production, procurement, storage, transportation and distribution was throwing up new challenges for the supply chain, infrastructure and logistics industries.
And a fresh look into these areas would make India more cost-efficient and competitive in the food area and to control costs at the consumer level.
Building cost-effective suitable supply chain elements, the role of overseas technology, refrigeration system, storage solutions and the development of ideal logistics were some areas identified where investment could be done.
The gap between agri-warehousing supply and demand is estimated to 35 million metric tonne (MT). The current capacity of 25 million MT cold storage is barely sufficient for ten per cent of the fruit and vegetables produced in the country.
On food safety laws
The government is in the process of implementing the new legislation (i.e. The Food Safety and Standards Act, 2006 [FSSA, 2006]), and invariably there have been a number of hiccups. Full implementation remains some way off.
However it is in the interest of both the consumers and food business operators (FBO). The report suggested that the objectives behind setting up the FSSAI are laudable, but the implementation of such a complex and far-reaching piece of legislation requires time.
Resources such as trained manpower and testing facilities need to be built, especially in smaller towns.
|483|| Cairn's Rajasthan oil fields may return to ONGC|
Cairn India's prolific Rajasthan oil fields may return to ONGC if the government and the state-owned firm do not extend the term of the block beyond the stipulated period provided in the contract.
The Rajasthan Production Sharing Contract (PSC) provides for ONGC becoming the owner of all facilities once their cost is recovered from sale of crude oil, sources said.
The cost of Mangala, Bhagyam and Aishwariya oil field facilities in the block as well as the heated pipeline that carries the crude from the field to Gujarat refiners will be recovered much before the current term of PSC ends in 2020.
Sources said ONGC as a licensee of the block pays royalty on not just its 30 percent stake but also on Cairn's 70 percent interest, which is subsequently cost recovered.
The Rajasthan Block RJ-ON-90/2 was awarded as an exploration acreage on terms different from 28 small and medium-sized fields like Panna/Mukta and Tapti and Ravva awarded alongside during 1991 and 1993.
The Oil Ministry in a draft policy has proposed extension of the PSC for these fields by 10 years or the balance economic life of the field, whichever is earlier. Cairn's Rajasthan block is not included in this policy, they said.
In case of the small and medium sized fields, ONGC is not the licensee and thus upon expiry of the contract period, the fields return to the government which will then auction it, pending which production may have to be shut down and field facilities damaged for no maintenance.
Sources said ONGC, who is a party to the Rajasthan PSC as well as the licensee, will also need to agree to any extension provisions under the PSC.
Some in ONGC argue that it may not be in the interest of the state-owned firm to agree to extension as they would be 100 percent owner of all facilities as well as the licensee with an obligation to pay royalty on full production.
Cairn, sources said, had originally sought extension of the contract till 2040, the economic life of the field but later sought extension by 10 years till 2030. The Rajasthan PSC provides for a 5-year extension beyond 2020.
Also, the Rajasthan PSC limits the government share to a maximum of 50 percent of the profits whereas in recent auctions the government share is as high as 80 percent.
Sources said ONGC after taking over the block can engage global expertise from international companies, including Cairn for operating the fields at terms beneficial to it.
When contacted, a Cairn India spokesperson said, "The PSC for Rajasthan block has a provision for extension beyond 2020 and our request is currently being examined by government."
"The Rajasthan block is a proven and highly prolific oil and gas province, and more recently the gas prospectivity has been established. We believe that there are compelling reasons to not only award a 10-year extension, which the PSC already provides for, but in fact up to field life," he said.
|484|| E-commerce hiring to grow 30 percent on account of Amazon India and other local players|
As per experts, e-commerce firms would be looking to hire across different levels of hierarchy and functions as this sector is in an investment phase. “Hiring will continue aggressively for delivery staff, digital marketing professionals, and for sales, operations, IT and data analytics across levels,” Sinha said.
Experts also observed that e-commerce players give preference to people from top rated management institutes, Randstad India CEO Moorthy K Uppaluri said, “There is a positive hiring outlook in this space particularly for tier 1 B-Schools and Engineering colleges since recruiters are looking for top notch talent.”
“Also, employers from this sector are preferred recruiter on campuses,” he said. The e-commerce companies are also focusing on hiring lateral talent from top IT companies and niche retail focused firms for their technology functions while they hire from FMCG, consumer durables entities to fill in marketing and logistics positions, the HR firm said.
|485|| Chinese companies want to invest $1bn in Gujarat|
A business delegation comprising heads of various industries from China will meet new chief minister Anandiben Patel and explore investment opportunities in India through Gujarat.
Chinese companies have a target investment of $1 billion for the state this year. According to Jagat Shah, chairman, India China Economic & Cultural Council (ICEC)-Gujarat chapter, Gujarat has become a favoured destination for industrial investments after former chief minister Narendra Modi's visit to China in 2011.
"The delegation will meet the new chief minister in Gujarat with an aim to invest $1 billion in the state and also pay a courtesy visit to Prime Minister Narendra Modi in New Delhi,'' said Shah.
Representatives of companies from sectors like automobile and motorcycle parts, real estate, electrical appliances, garbage management, medical equipment and finance will be part of the delegation.
|486|| New Govt will Focus on Gas Exploration|
One of the focal areas of the Narendra Modi government will be deepwater exploration of oil and gas. The government will expedite the exploration of natural gas along the Kerala-Konkan coast, said Narendra Taneja, national convener, BJP’s Energy Cell. He also said that even though deepwater exploration is costlier, it is still 30 per cent cheaper than imported gas.
|487|| Canara Bank to Open eight Overseas Branches by 2014-15|
Canara Bank has opened its 6th overseas branch at Johannesburg in South Africa, the first in South Africa.
Canara Bank already has 5 overseas branches at London and Leicester in United Kingdom, Hongkong, Shanghai and Bahrain, apart from Representative Office at Sharjah and joint venture Bank at Moscow.
The Bank has also plans to expand its overseas presence by opening branches/offices in New York, Frankfurt, Dubai, Dar-es-Salaam, Sau Paulo, Tokyo, Abuja and Qatar during the year 2014-15.
|488|| Indias tea output rises 8% to 1,224.48 million kg in 2013-14|
India’s tea production in 2013-14 increased by about 8% to 1,224.48 million kg on account of higher output in Assam and West Bengal.
Tea production in 2012-13 was 1,135.07 million kg, according to Tea Board of India data.
The combined output of Assam and West Bengal rose 6.52% to 980.01 million kg in the previous financial year from 920.01 million kg a year earlier.
Tea production in the southern states of Tamil Nadu, Kerala and Karnataka was up 13% at 244.47 million kg.
|489|| Foreign investment inflow expected to double to $60 bn: Assocham|
Foreign investment inflows are estimated to more than double to $60 billion this fiscal riding on the high expectations from the incoming Narendra Modi-led government, the Associated Chambers of Commerce and Industry (Assocham) said.
"The unfolding scenario also points to easing of prices and lowering of interest rates, the two major challenges that the Indian economy had been facing for some years now," Assocham President Rana Kapoor said.
However, Assocham immediately pointed to the challenge posed to the Reserve Bank of India by the emerging situation, where the problem of too few US dollars has become one of too many and the rupee in its exchange has strengthened to Rs.58.50.
|490|| Aditya Birla Nuvo to invest Rs 350 cr in financial services biz|
Aditya Birla Nuvo Ltd (ABNL) will invest Rs 350 crore in its financial services business in the current fiscal.
“For 2014-15, ABNL has earmarked a capital expenditure plan of around Rs 460 crore. The company plans to invest about Rs 350 crore in the financial services business,” the company said in an investor update.
The company, however, has not specified which segments in its financial arm — Aditya Birla Financial Services (ABFS) — will receive capital infusion.
|491|| IDBI Bank to add 600 branches this fiscal, says Batra|
IDBI Bank plans to set up 600 branches this fiscal, taking its overall branch network to 2,000 branches, its Deputy Managing Director, B.K.Batra has said.
In 2013-14, this public sector bank had added nearly 400 branches, taking the overall branch network as at end March 2014 to 1,400 branches, he said.
IDBI Bank, will look to add another 700 Automated Teller Machines (ATMs) during the current fiscal, Batra said.
|492|| Medical centre at Technopark|
AnyTime Medicare Services, a Bangalore-based firm, has joined hands with CSI Hospitals to open a healthcare centre on the Technopark campus. Named Ojus Anytime Medicare (Ojus ATM), the centre offers predictive, preventive and pro active primary healthcare services. CSI Bishop Dharmarajan Rasalam inaugurated the centre at a function held.
|493|| Gujarat State Petroleum to start gas production at KG Basin block|
Gujarat State Petroleum is poised for an IPO as it is ready to start gas production for its KG Basin block that borders Reliance Industries' KG-D6 region.
GSPC is a flagship energy firm of Gujarat government with controlling stakes in over a dozen ventures including listed companies Gujarat State Petronet and Gujarat Gas, which it acquired from BG Group in 2012. Of GSPC's 64 blocks, 53 are located in India and rest are in Australia, Egypt, Indonesia and Yemen.
|494|| BPCL likely to modify LPG pipeline route|
Bharat Petroleum Corporation Limited (BPCL) is likely to modify the route alignment plan of its proposed LPG pipeline from Kochi to Coimbatore.
“The company will prepare a detailed map marking the survey number of properties through which the proposed pipeline passes. Based on this, we will hold consultations with the local bodies concerned and make slight deviations, if necessary,” said a top company official during a public hearing on the project held at the district headquarters. The BPCL also agreed to compensate the landowners as directed by the district administration and publish details of the land survey on the internet.
The announcements came with the Additional District Magistrate B. Ramachandran directing the company to consider alternative routes for laying the 237-km-long pipeline.
|495|| Chhattisgarh Housing Board to launch 5 mega housing projects|
Chhattisgarh Housing Board (CHB) would take up five new mega housing projects to build over 275,000 units in next five years. The decision was taken at a high level meeting of the housing department held recently. Chhattisgarh housing minister Rajesh Munat chaired the meeting that gave its nod to the proposals to take up new projects and schemes.
"Apna Ghar (Our House)" would be the theme of the new mega housing projects that had been designed to meet the housing requirement of poor and middle class people. The state government had decided to involve private builders in implementing the projects.
|496|| JSW Steel to diversify iron ore sourcing|
JSW Steel, as part of its de-risking strategy, is planning to diversify the sourcing of its iron ore, including from imports.
The company, dependent on e-auctions in Karnataka and from government mining company NMDC, among other sources in Chhattisgarh and Odisha, has for the first time participated at e-auctions in Goa, though the ore here is inferior in quality.
The move is aimed at ensuring adequate supply for its steel mills, as the availability in Karnataka has not improved significantly. The steel major bought 11,400 tonnes of ore with 58.5 and 59.5 per cent iron (Fe) content recently at the Goa e-auctions and is testing the quality at its beneficiation plant at Bellary (Vijayanagar) in Karnataka. Based on the feasibility, it plans to continue sourcing the ore from Goa, two top officials of the company said.
|497|| Sun Direct opens 200 'Sunshine' customer service centres|
Sun Direct, DTH player has launched 200 'sunshine centres' in South India aimed at providing end-to-end services to customers. Besides, the company also introduced a 24x7 service number to serve customer grievances and address it within 48 hours, Sun Direct said in a statement.
|498|| Rosneft and ONGC Videsh Limited sign Memorandum of Understanding|
Rosneft and ONGC Videsh Limited sign Memorandum of Understanding (MOU) for cooperation in exploration, appraisal and hydrocarbon production on the continental shelf of the Russian Federation. Igor Sechin, President and Chairman of the Management Board, Rosneft and Dinesh Kumar Sarraf, Chairman of the Board of Directors, ONGC Videsh Ltd and Chairman & Managing Director, ONGC signed a Memorandum of Understanding at the st. Petersburg International Economic Forum, in the presence of Mr. Vladimir Putin, President of the Russian Federation. The Memorandum paves the way for the companies' cooperation in subsurface surveys, exploration and appraisal activities and hydrocarbons production in Russia's offshore Arctic.
The parties will jotntlv consider forming a consortium led by Rosneft and involving other partners.
|499|| Synchronization of unit - 4 of Parbati III Power Station - (520 MW)|
NHPC Ltd has informed BSE that Unit # 4 of Parbati-III power station has been synchronized with grid at 14:53 hrs and machine has been put on full load i.e. 130 MW at 17:45 hrs on May 22, 2014.
|500|| Sebi raises cash investment limit in mutual funds to Rs 50,000|
The Securities and Exchange Board of India (Sebi) has increased the cap on cash investment in mutual funds from Rs 20,000 to Rs 50,000 a year.
In a move to enable small town investors to invest in mutual funds, Sebi had in 2012 allowed mutual funds to accept investments up to Rs 20,000 in cash.
"The whole idea of allowing investments in cash was to bring in more investors in the mutual fund fold. Though earlier the limit was Rs 20,000 a year, Sebi must have now realized that this is too small an amount and hence increased the limit," says Vijay Mantri, chief executive officer, Pramerica Mutual Fund.
|501|| Foreign direct investment up 8% in FY'14 at $24.3 billion|
Foreign direct investment into India grew by 8% year-on-year to USD 24.3 billion in 2013-14, according to the Department of Industrial Policy and Promotion (DIPP) data.
In 2012-13, FDI aggregated at USD 22.4 billion. In March, the foreign investment inflows more than doubled to USD 3.53 billion from USD 1.52 in the same month last year. The highest FDI came in services (USD 2.22 billion), followed by automobiles (USD 1.51 billion), telecommunications (USD 1.3 billion), pharmaceuticals (USD 1.27 billion) and construction development (USD 1.22 billion) in 2013-14.
Singapore led the FDI inflows into India with USD 5.98 billion, followed by Mauritius (USD 4.85 billion), the UK (USD 3.21 billion) and the Netherlands (USD 2.27 billion). The country needs foreign investment to help regain its growth momentum. India's economic growth slowed to a decade's low of 4.5% in 2012-13.
The country is estimated to require about USD 1 trillion between 2012-13 and 2016-17, the 12th Five-Year Plan period, to fund infrastructure projects.
|502|| Corporation asks Kochi Metro Rail Ltd to execute civic jobs|
The corporation has decided to ask Kochi Metro Rail Ltd (KMRL) to compensate them for the land being taken over for the Metro project or execute developmental projects for the civic body in the city.
The civic body, which has been complaining about not being paid adequately for their land, has expressed its willingness to give land if KMRL repays them in cash or undertake various development works of the corporation.
While the civic body has moved a resolution regarding the same before the council , town planning committee chairman K J Sohan said that the corporation has not shortlisted the development works that need to be executed by KMRL.
The civic body has, meanwhile, asked KMRL to authorize deputy collector (land acquisition) to carry out the valuation of corporation land required for the Metro project.
For the projects, KMRL needs to acquire land at Kaloor bus stand, MG Road, Kunnara park, Ernakulam south and in front of Ernakulam Town Hall.
It requires 8.87 cents of corporation-owned land adjacent to the main entrance of the south railway station for constructing a Metro station. KMRL also needs 0.1657 hectares which is part of Kunnara park, 0.729 hectares of reclaimed land lying adjacent to the park, and 0.0861 hectares at Kaloor for the project.
While KMRL intends to construct a multistorey Metro station near the entrance of south railway station, the corporation also wants to construct a shopping complex to rehabilitate traders and merchants currently operating in the area.
Meanwhile, officials with the civic body pointed out that Kochi Metro authorities have started construction works on corporation owned-land in many places, including areas in front of Ernakulam Town Hall and Kunnara park.
"A long strip of land has been handed over to KMRL on MG Road. The value of this plot has not been ascertained," said the official
|503|| JTC to build first high-rise facility for heavy manufacturing|
JTC said it will launch its first high-rise industrial facility that will meet the needs of heavy-duty manufacturers, which typically operate in land-based factories, as part of efforts by the Government to help small and medium enterprises (SMEs) overcome land constraints.
The nine-storey JTC Space @ Tampines North will have technical specifications such as high ceilings, floors that can withstand heavy loads and wide corridors, which are necessary for heavy, land-based industries. Construction is scheduled to begin at the end of the year and is expected to be completed by 2016.
|504|| Disruptive complexity changing the manufacturing landscape: KPMG|
Manufacturers aim to enhance profitability through innovation, collaboration and supply chain integration, according to the KPMG's 2014 Global Manufacturing Outlook
Manufacturers are entering into a new era of ‘disruptive complexity’ which is fundamentally changing the way manufacturers compete and succeed, according to theKPMG’s 2014 Global Manufacturing Outlook (GMO), which surveyed 460 senior executives across six industrial sectors split equally among the Americas; Europe, Middle East and Africa; and Asia-Pacific.
“Over the past few years, manufacturers have seen an explosion of new technologies and innovative developments in material science, advanced manufacturing and synergistic operating models. With this accelerating pace of change, manufacturers the world over are now starting to take stock of the more complex world that they are operating in, and are using that insight to redefine ‘the art of the possible’,” said Jeff Dobbs, Global Chair, Industrial Manufacturing and a Partner with KPMG in the US.
|505|| U.S. factory activity expands in May: Markit|
The U.S. manufacturing sector expanded at a stronger-than-expected rate in May, while factory output growth hit its fastest pace since February 2011, an industry report showed.
Financial data firm Markit said its preliminary or "flash" U.S. Manufacturing Purchasing Mangers Index rose to 56.2 in May from 55.4 in April. Economists polled by Reuters expected a reading of 55.5.
Readings above 50 indicate expansion in the sector.
|506|| Global Construction Race Heats Up|
New competition, digitization and compliance issues are reshaping the $6.8-trillion global construction market, forcing engineers to learn quickly how to pick and deliver projects of ever-increasing complexity. Firms new to the global stage are finding they have little time to play catch-up.
"We are in a global race. We're in a race to the future," said Roger Flanagan, a professor at the University of Reading, England, who gave a keynote address at this year's ENR+Dodge Global Construction Summit.
The U.S. construction market, with a value of about $945 billion annually, is operating at a "comfortable" pace again, Flanagan said, but noted that even more work is available overseas. Design and construction firms working abroad are seeing bigger revenues but face new competitors every day.
|507|| Chinese State Firm Clinches $13-Billion Rail Project in Nigeria|
China Railway Construction Corp. has, through its subsidiary China Civil Engineering Group Co. Ltd., signed an agreement with Nigeria’s transport ministry to build a 1,385-kilometer-long, single-track high-speed railway line with an estimated $13.1 billion price tag.
The project is expected to connect 10 Nigerian states with the capital of Lagos, but its exact route has not been disclosed because of concerns of sabotage by rebels, particularly in the oil-rich Niger delta.
Also unclear is when construction will start and the mix of workers that will build the line.
With at least 22 stations along the line, the railway has been designed to allow passenger trains to cruise at 120 km per hour.
|508|| Relativity Media, B4U announce joint venture in India|
Relativity Media, a media company, and B4U, a Bollywood film and television network, have formed a joint venture that would leverage their combined expertise, relationships and resources to create and distribute highly engaging long and short form entertainment and sports content in India. The aim is to span a variety of mediums including film, television and digital.
Though terms of the transaction were not disclosed, the joint venture would have an investment of approximately $100 million available for projects. The joint venture is to be managed by B4U Chief Executive Officer Ishan Saksena and would be overseen by a board of directors, to which both companies would appoint two directors.
Major shareholders of B4U television network include Lakshmi Mittal, Kishore Lulla, and Gokul Binani.
|509|| Govt urged to set up Rs 560-cr chemical innovation fund|
Chemical industry has urged the Government to set up a Rs 560-crore Chemical Innovation Fund besides forming a chemical sector council for innovation to achieve the full potential of the sector.
Requesting the Government to review the free trade agreement, the CII National Committee on Chemicals said such pacts signed with various countries have not resulted in any advantage to India, while other countries are benefited much more.
|510|| Vistaar raises Rs 160 cr from WestBridge|
Vistaar Financial Services, has rasied Rs 160 crore in Series C investment led by WestBridge Capital.
Existing investors, Elevar Equity, Omidyar Network and Saama Capital have also joined in this round. The money from this round will fund the expansion of Vistaar's network to 250 plus branches across the country over the next four years, with a projected portfolio of over Rs 2,500 crore.
|511|| We're looking at acquiring hospitals in Bangalore and Hyderabad: Azad Moopen|
Aster DM Healthcare, a Dubai-based healthcare service provider, has prepared expansion plans in India, West Asia and Africa. It is also all set to go for an IPO next year and will list on London and Indian stock exchange. In an interview with George Joseph, group chairman and managing director Dr Azad Moopen shares his company plans.
The initial funds we received were used mainly for Aster Medcity, a hi-tech healthcare destination, which is currently being developed at Cheranallur in Kochi. The proceeds of PEs buying five per cent more in Aster DM Healthcare recently will take care of organic expansion in India and West Asia.
The project will be launched by July/August 2014. A formal announcement on this will be done by the end of this month.
We are in the process of expanding in Kerala under the brand Malabar Institute of Medical Sciences (MIMS). We identified Kannur and Perinthalmanna in Malappuram district for future expansion.
We are in the process of acquiring hospitals in Bangalore, Hyderabad and Mumbai. The Bangalore announcement is in the final stages and will be disclosed soon.
|512|| Seven new B Ed colleges to come up in J&K|
Jammu and Kashmir government approved setting up of seven new private B Ed colleges in the state among a slew of other decisions.
The state cabinet, which met under the chairmanship of Chief Minister Omar Abdullah, approved opening up of seven new private B Ed colleges as recommended by the University of Kashmir, an official spokesman said.
|513|| Finance ministry reviews capital expenditure plans of big PSUs|
The finance ministry reviewed capital expenditure plans of 13 big PSUs, including ONGC,SAIL and BHEL , so that proposals to kick start the investment cycle could be placed before the new minister for further action soon.
"There will be separate review of capital expenditure plans of power and telecom sector PSUs before May 26," the official added.
"Last fiscal, we had capital expenditure plans of 2.57 lakh crore for all the PSUs. We achieved 2.48 lakh crore capital expenditure. This year we should look to better it," he said.
|514|| Indomobil, Furukawa Set Up Battery JV in Indonesia|
Furukawa Battery and Indomobil Sukses Internasional have agreed to set up two joint ventures in Indonesia as part of their expansion plans in the country.
The first joint venture, Furukawa Indomobil Battery Manufacturing, will manufacture batteries at a 6.6-hectare factory in Purwakarta, West Java.
The total investment for both joint ventures is $20 million, said Andreas Dhanu Sugih, president director at Furukawa Indomobil Battery Sales.
Furukawa manufactures batteries for transportation, industrial, and power supply purposes under the brand FB Battery.
Andreas said that $19 million will be used to finance the manufacturing plant and the remaining $1 million will go towards marketing the products.
|515|| Government to spend Rs 3,000 crore to set up labs, double drug regulators|
The government will spend about Rs 3,000 crore to double the number of drug regulators to 1,000 in three years and set up testing labs at ports to ensure that pharmaceutical export shipments meet global quality standards, a senior government official said.
"While following a zero tolerance policy for any laxity, the government will more than double the number of regulators in three years and set up state-of-the art testing labs at ports to ensure the pharmaceuticals and drugs exports shipments meet global quality standards," Drugs Controller General (India) G N Singh told reporters.
|516|| Scientific & technical services |
The Maharashtra Government has earmarked 10 acres of land at Palghar in neighbouring Thane for setting up a laboratory for diagnosis of contagious diseases in fish.The decision was taken at cabinet meeting chaired by Chief Minister Prithviraj Chavan.
|517|| Modi govt might start with Rs 12,000-cr highway projects|
The road sector might well be the first to see action from the next central government under Narendra Modi. The road transport and highways ministry has readied plans for Rs 12,000-13,000 crore projects, including the Rs 6,500-crore Delhi-Meerut expressway project to be undertaken with private investment.
These, approved by the Public-Private Partnership Appraisal Committee (PPPAC), were awaiting a final nod from the Cabinet, a ministry official said. In some, technical bids have been called but no decision taken for want of Cabinet nod. "We will send the proposals for clearance as soon as the new government takes office. The work on these projects has been completed from our side and we are to call for bids once the final nod comes."
These projects are to expand roads into two- and four-lane ones and spread those across Odisha, Punjab, Kerala, Uttar Pradesh, Andhra Pradesh and Rajasthan. The Delhi-Meerut expressway project, where 27 km of 150 km is to have 16 lanes, is being bid out under the BOT (build-operate-transfer) model.
|518|| RMZ Corp eyes a special route for expansion|
RMZ Corp, a real estate developer, is exploring special purpose vehicle (SPV) route for expansion into other cities. The company is eyeing Chennai for further expansion and NCR, Mumbai and Hyderabad markets for foray into office space realty.
“As a strategy, we are working to expand our footprint and also increase leased office space to 23 million square feet,” Raj Menda, Chairman RMZ Corp told Business Line.
|519|| NH work to begin post-monsoon|
The much-delayed widening of the 90-km Kundapur-Talapady national highway into a four-lane road will only resume post-monsoon and is expected to be ready by June, 2015 .
The project was to have been ready in March, 2013 but got delayed due to funds-related issues in Navayuga Udupi Tollway Pvt. Ltd. (NUTPL), which is executing the project to facilitate movement of vehicles at speeds ranging from 80 to 100 kmph.
|520|| Over 100 large projects await bank funding|
Over 100 projects, including from Tata Steel and Hindalco, sought financial assistance from public sector banks during January-March 2014. The industrial houses are pinning hope on the new Government to boost sentiments, especially in manufacturing and capital goods sectors.
According to data compiled by the Finance Ministry, for project sizes of Rs.250 crore or more, banks received 108 new projects/proposals in sectors such as commercial real estate, power, roads, automobile, and oil and natural gas. The iron and steel sector tops the charts in terms of investment value, but number-wise, commercial real estate projects are the highest.
The total investment in these projects is over Rs.2.26-lakh crore. Among these, Tata Steel’s project in Odisha is the biggest with a total outlay of Rs.43,149 crore, while Hindalco’s Madhya Pradesh project comes next, at Rs.12,552 crore.
For all these projects, banks have so far sanctioned Rs.27,556 crore, of which, Rs.3,252 crore has been disbursed. Data show that the Tata Steel project was sanctioned the highest amount, of Rs.5,400 crore, but not a single rupee has been disbursed so far. However, bank officials are hopeful of giving money according to the timeline fixed, provided all the required approvals are in place.
|521|| ITC project explores Tajikistan to set up apparel firms|
Experts from the International Trade Center (ITC) are conducting a new study to explore availability of financial resources in Tajikistan for setting up of small and medium-sized garment and textile enterprises in the country.
The research is being conducted under the framework of ITC, and is being funded by the Swiss Government under the aegis of cooperation in the field of trade in Tajikistan.
|522|| Govt to fast-track 13 Arunachal hydel projects of 13,611 MW capacity|
The ministry of power has identified 13 hydro electric projects with a total capacity of 13,611 MW in Arunachal Pradesh for faster clearances and fast-tracking their implementation, a senior power ministry official told Cogencis.
The projects include NHPC Ltd’s 3,000 MW Dibang multipurpose project, 800 MW Tawang-II and 600 MW Tawang-I project, the official said.
The list also names Reliance Power Ltd’s 1,000 MW Siyom power plant, 700 MW Tato-II plant, KSK Ventures’ 120 MW Dibbin plant, Jaiprakash Power Ventures Ltd’s 500 MW Hirong plant and Patel Engineering Ltd’s 144 MW Gongri Project, the official said.
He added the projects were under construction and the government would focus on building the infrastructure around the projects.
Earlier this year, the ministry had sent a note to the Cabinet Committee of Investment seeking environment and forest clearance for Tawang, Tato and Teesta hydel power projects.
The list also includes 120 MW Nafra project of Sew Green Energy, 1,750 MW Demwe Lower 1,750 MW of Athena Energy Ventures, 780 MW Nyamjungchuu project of Bhilwara Energy, 3,097 Etalin power project of Jindal Power and 1,000 MW Naying project of DS Construction Power.
|523|| Rajasthan plans to export milk, dairy products to Arab nations|
Rajasthan government plans to export milk and dairy products to Arab countries after fulfilling the local demand.
The state agriculture minister Prabhulal Saini said the samples of the milk and products have been tested in the UAE which have been found to of good quality.
The government would now plan to export surplus milk to the Arab countries.
|524|| Quick Heal opens branches in Africa and UAE|
IT security solutions firm Quick Heal Technologies has announced that it has opened two new branches in Africa and the Middle East. These are in addition to its existing set up in Japan. The new offices are located in Kenya and Dubai respectively and will service the company's direct partners and customers in these regions.
|525|| LNG Canada awards engineering contract for export terminal|
LNG Canada, a joint venture led by Royal Dutch Shell, said that it had awarded the design and eventual construction of its planned liquefied natural gas (LNG) export project on Canada's west coast to CFSW LNG Constructors.
The contract covers the front end engineering and design work, as well as the execution of the multi-billion dollar project, pending a final investment decision. That final go or no-go call is not expected until mid-decade.
The project, to be built in the port town of Kitimat hundreds of miles north of Vancouver, will initially produce some 12 million tonnes of LNG per year and could be expanded to 24 million tonnes. An environmental assessment is underway.
|526|| Total trade expands for second straight quarter: IE Singapore|
Total trade in the Republic grew for a second straight quarter, with an increase of 7.2 per cent in the first quarter of the year compared to the same period last year, IE Singapore announced .This followed a 3.8 per cent increase in the previous quarter.
IE Singapore attributed the Q1 gains to both oil trade - which reversed a decline in the previous quarter to notch a 10.1 per cent gain - and non-oil trade, which grew by 6.1 per cent on-year.
Non-oil exports, which includes both non-oil domestic exports (NODX) and non-oil re-exports (NORX), grew 7.3 per cent on-year in the first quarter of 2014. However, NODX dipped by 1 per cent in the same period, following a 2.1 per cent contraction in the previous quarter, on lower shipments of electronics.
|527|| Punjab to lease vacant panchayat land for solar power|
Solar powers players willing to invest in Punjab are likely to get shot in the arm with the state government paving the way for leasing out vacant panchayat land to them. Players who had signed power purchase agreement with the state power utility earlier this year have not acquired land citing exorbitant land prices as the stumbling block for setting up power plants. Officials said the current notification would assist the developers in speedy implementation of project, as their major concern has been addressed.
In July last year, Punjab allocated solar power projects to 26 developers for 250 MW after a competitive bidding process. Further, these 26 developers signed power purchase agreement with the state power utility.
According to sources, only 50 per cent of the developers could arrange land either by acquisition or by entering into pacts with farmers for leasing.
Among the major companies who are setting up solar power projects are Lanco Solar Energy, Punj Lloyd Infrastructure, Moser Baer Clean Energy, Essel Infra Projects, Asopus Infrastructure (India Bulls), Welspun Solar Punjab , Azure Urja, among others. The solar power projects were awarded in two categories of 1-4 MW and 5-30 MW. In the small category of 1-4 MW, 18 companies were awarded power projects to the tune of 50 MW, while in 5-30 MW category, 11 companies have been awarded projects for 200 MW solar power.
These players are likely to invest around Rs 2,200-2,500 crore in the state and will take another 13-15 months for completion of project. Currently, the total installed capacity in the state is 10.5 MW of solar photovoltaic power. With the commissioning of these units, the state will add another 250 MW.
|528|| Roche to invest $135 million in Swiss manufacturing|
Swiss drugmaker Roche said it would invest 120 million Swiss francs ($135 million) in two new manufacturing facilities at its Basel headquarters, bucking a trend of cost-cutting by other big pharmaceutical companies.
The world's largest maker of cancer drugs plans to spend 85 million francs on a new facility for chemically manufactured medicines, which is expected to enter operation at the start of the third quarter of 2016.
It will also invest 35 million francs on expanding and refitting an existing manufacturing unit to produce investigational drugs and medicines that are already on the market. This facility should enter service June next year.
|529|| Walmart announces 30 new outlets in China|
The Walmart, which has over 400 outlets in China, plans to invest $94 million and open 30 new stores in the booming communist nation this year, according to a top company official.Walmart said it will continue to develop businesses in the country's big cities.
And more supercenters will be built in third- and fourth-tier cities to serve emerging consumers amid China's urbanisation drive, state run Xinhua news agency reported.
It also plans to open two new branches of its "Sam's Club" chain of membership-only retail warehouses in Wuhan of central China's Hubei Province and Changzhou City in east China's Jiangsu Province in 2014.
The retailer also decided to invest about 580 million Yuan ($94 million) to upgrade about 55 old outlets, aiming to improve operational performance and customer experiences.
Last October, Walmart had announced it would speed up development in China in the next three years by opening 110 stores and distribution centres and creating 19,000 new jobs.
By the end of April, it has over 400 outlets in the country.
|530|| HCL Technologies bags $500 million deal from Pepsi|
HCL Technologies has bagged a deal estimated to be around USD 500 (around Rs 3,000 crore) from beverage giant PepsiCo for offering infrastructure management services (IMS). Though the value of the 7-year deal was not disclosed, sources said the size of the agreement is about USD 500 million.
|531|| Brazil says to export more oil in 2014 than it will import|
Brazil will export more crude oil in 2014 than it will import, Magda Chambriard, director general of Brazil's oil regulator, the ANP, said on Tuesday.
If her prediction comes true, the oil-trade surplus will be Brazil's first since 2012, when the country exported $20.3 billion of crude oil and imported $13.4 billion, according to Brazil's commerce and trade ministry.
Brazil had an oil trade deficit in 2013, importing $16.3 billion of crude oil and exporting $13 billion, the ministry said on its website.
|532|| Exxon's Papua New Guinea LNG plant to export 20 cargoes by Sept|
ExxonMobil's Papua New Guinea gas liquefaction plant is expected to export around 20 cargoes during the project's start-up phase lasting until September, traders said.
The rapid export rate from the new plant, which was completed slightly ahead of schedule, has helped push global LNG prices lower as major Japanese buyers retreat from spot markets.
|533|| Modi govt plans new oil exploration norms|
A new oil and gas exploration policy with transparent procedures is on the way to woo leading energy companies such as Chevron and ExxonMobil to invest in India’s oil and gas sector, and to revive the interest of global major such as BHP Billiton and Santos, which left the country citing policy delays.
A senior party leader told HT that the focus of the Narendra Modi-led BJP government will be to put in place a policy that will accelerate the oil and gas exploration and production work in existing blocks, and not hastily commence another round of oil and gas block offerings.
“There will be no NELP-10 round till we first accelerate work in the existing oil and gas blocks...the party is uncomfortable with India’s growing dependence on oil imports, currently pegged at close to $160 billion ( Rs. 9.5 lakh crore) a year. We aim to work towards restoring the interest of existing and leading oil and gas majors in the country’s energy sector,” he said.
|534|| Stronger Rupee ; petroleum, fertiliser and power sectors likely to benefit|
The rupee's rise to an 11-month high against the US dollar is likely to benefit petroleum, fertiliser and power sectors in the country; pharmaceuticals, automobiles, textiles and steel are among the sectors that will be hit.
The share of foreign currency revenues in its total revenues grew to 20.1% in 2012-13 from 17.1% in 2006-07, according a recent report from India Ratings. Similarly, foreign expenditure as a proportion of total expenditure increased to 41.8% in 2012-13 from 38.6% in 2006-07, the report said.
|535|| GSPC to revive IPO plans|
Gujarat State Petroleum in Gujarat, is poised for an IPO as it is ready to start gas production for its KG Basin block that borders Reliance Industries' KG-D6 region.
It drew global attention in 2005, when Modi announced a major gas discovery in the company's block in the Krishna Godavari Basin. GSPC is a flagship energy firm of Gujarat government with controlling stakes in over a dozen ventures including listed companies Gujarat State Petronet and Gujarat Gas, which it acquired from BG Group in 2012. Of GSPC's 64 blocks, 53 are located in India and rest are in Australia, Egypt, Indonesia and Yemen.
The IPO, postponed twice in the past due to weak market sentiment, will help GSPC reduce its debt of over Rs 15,000 crore.
|536|| BSE okays merger of United Stock Exchange with itself|
The board of directors of the BSE has approved a proposal to merge the United Stock Exchange with itself. The merger will take effect from April 1, subject to receipt of all requisite statutory and regulatory approvals, said BSE in a statement.
USE, which created a record by registering a turnover of Rs.45,486 crore on its inaugural day in 2010, has seen its volume dipping due to intense competition and lack of requisite infrastructure.
|537|| ONGC Videsh Ltd aims at higher oil and gas output in 2014/15|
ONGC Videsh Ltd, the overseas investment arm of explorer Oil and Natural Gas Corp , aims to produce 3.6 per cent more oil and gas during the fiscal year to March 2015, Managing Director S.P. Garg said .
ONGC Videsh is aiming for 8.66 million tonnes of oil and gas in 2014/15, compared with 8.36 million tonnes produced in the previous fiscal year, he said
|538|| Canara Bank enters South Africa; opens branch in Johannesburg|
Canara Bank has entered South Africa by opening a branch in Johannesburg as a part of its global expansion plans. The bank has 4,750 branches across India apart from a presence in London, Hong Kong, Shanghai, Bahrain and Moscow.
"1,027 branches were added only last year across the country and this year we are opening another 1,200 branches as we move the bank away from being just in the south of India," said Rajiv Dubey, Chairman and Managing Director of Canara Bank at the launch .
"We have big expansion plans abroad besides domestic expansion. We have plans for Durban, Cape Town, Pretoria, and deep into South Africa as well.
|539|| UAE supermarket chain Lulu plans entry into Malaysia, Indonesia|
Lulu Group said it plans to invest $200 million on halal-only outlets in Malaysia in the next two years ahead of expanding into other south Asian markets.
Owned by Yusuff Ali M.A, who was ranked first on the Forbes list of the richest 100 Indians in the Arab world last year, Lulu has 110 supermarkets and hypermarkets across the Gulf, Yemen, Egypt and India.
Malaysia, where it plans to open five hypermarkets, will be the group's first market in South-East Asia.
Lulu signed an agreement with Malaysia's Federal Land Development Authority (FELDA), a state-owned development body.
|540|| Green companies set up shop in INKEL’s tower|
INKEL Ltd’s bid to woo non-polluting industries to Kerala has got a shot in the arm with a slew of eco-friendly companies queuing up to set up shop in its Tower I facility at Angamaly. The Tower I campus is mainly meant for non-polluting industries such as logistics, IT and ITEs.
T. Balakrishnan, Managing Director, INKEL, said five companies have gone on stream in the new campus, with more entrepreneurs evincing interest in opening shop in the unit.
Tower-1 is a 2,00,000- sq ft plug-and play industrial space, which is available on long-term lease of 85 years or for monthly rentals in modules of 5,000 sq ft of super built-up area to entrepreneurs/investors.
|541|| India’s 3rd advance estimate yield of foodgrains likely to be 264.38MT|
India is likely to produce 264.38 million tonne (MT) foodgrains in 2013-14 (includes kharif 2013 and rabi 2013-14 crops) vis-a-vis last year’s 257.13 million tonne.
This is more than seven million tonnes higher than last year’s production. In the Second Advance Estimates (released in February), the total foodgrain production was pegged at 263.2 million tonne.
Rice production is expected to be 106.29 million tonne, and wheat production is expected to reach 95.85 million tonne. Both are records.
Record production was also achieved in the cases of tur (3.38 million tonne), gram (9.93 million tonne), maize (24.19 million tonne), all pulses put together (19.57 million tonne), cotton (36.50 million bales) and jute (10.82 million bales).
The production estimates for major crops for 2013-14 vis-a-vis the final estimates for the previous five years are as follows:
Third Advance Estimates (2013-14)
Rapeseed and Mustard
Total Nine Oilseeds
(# million bales of 170kg each)
(## million bales of 180kg each)
|542|| Retail mall at Singapore Sports Hub to open in June|
The retail mall in Singapore's Sports Hub, Kallang Wave, is opening next month, according to SMRT Alpha.
Spanning 441,320 sq ft, the mall offers a mix of F&B and retail stores featuring both homegrown and international brands, with tenants that include FairPrice Xtra, Foodfare, H&M, Uniqlo and Harvey Norman.
It also features a climbing wall from its basement to the third storey, as well as a rooftop water park.
|543|| Alsbridge Opens Global-In-House Captive Center in Bangalore|
Alsbridge Inc., has announced the setting up of its first global-in-house ‘captive’ center in Bangalore India. The key value-add of the center includes knowledge process outsourcing (KPO) for its various business services as well as software development & support. Alsbridge was ranked #1 outsourcing consulting firm in the world by the IAOP in 2012 based on the value delivered to their clients.
|544|| Tata's Gateway plans 3 launches in Sept|
Gateway Hotels, the Tata Group’s upmarket chain, has planned three new property launches in September-October, a busy time for the hospitality sector in India.
The three formal openings are in Pune, Gurgaon (near Damdama) and Raipur. A 160-key Pune property would see its formal launch, as will a 112-key one at Raipur and an 80-key property at Gurgaon.
Tata Gateway says many of its new properties under construction are in non-metropolitan cities, as the metros have become a crowded market. A first-mover advantage in a non-metro city is an incentive.
|545|| Myanmar seeks foreign partners for jet fuel distribution|
Myanmar Petroleum Products Enterprise is inviting foreign companies to form a joint-venture to improve the distribution of jet fuel around the country, a senior Myanmar government official said. "We've invited letters of expression of interest from interested experienced foreign partners to jointly operate jet fuel distribution in our country," a senior Energy Ministry official told Reuters. A notice of invitation was published in newspapers.
"Applicants must have experience in distributing jet fuel at least three international airports in three different countries," said the official who declined to be identified as he is not authorised to speak to the media.
|546|| 17 new wells to join Egypt's natural gas grid: ministry|
Egypt’s Ministry of Petroleum plans to add 17 new natural gas wells to its production grid in an attempt to increase the daily production of gas by nearly one billion cubic feet, reported the state-owned Al-Ahram news website. According to Sherif Ismail, minister of petroleum, drilling the wells will start in September and is expected to cost $2.4 billion. Earlier this week, Ismail told Reuters that two new natural gas fields — different from the aforementioned — will start production in June and August to support the national gas grid.
The ministry forecasts total natural gas production to increase 1.7 percent to reach 5.4 billion cubic feet per day in the coming fiscal year 2014/15 compared to the current fiscal year, while consumption is projected to increase 12.5 percent to amount to 5.57 billion cubic feet per day in the same period.
|547|| Venus Remedies ties up with Lupin to sell drug in Australia|
Venus Remedies Ltd said it has received marketing authorisation for its antibiotic drug Meropenem from Australian regulator TGA and has tied up with Lupin to sell the drug there.
The Panchkula-based company said it plans to roll out the drug by the third quarter of 2014 and is eyeing sizeable share in Australia’s $15-million Meropenem market in the first year of launch.
|548|| Tata Power invests Rs 300 crore to strengthen Mumbai network|
Tata Power said it has invested over Rs 300 crore in FY2013-14 to strengthen distribution network in the metropolis. The company laid a total network of 602 km and commissioned six distribution and 85 consumer sub-stations in Mumbai during the year, a Tata Power release said.
"In line with our network development strategy, we plan to further strengthen the backbone infrastructure of the city to cater to our growing consumer base. "We plan to set up additional 30 distribution sub- stations of which 17 are to be commissioned in the next five years and the remaining 13 post FY'19," Tata Power Executive Director Ashok Sethi said. The private power firm has five lakh consumers in Mumbai as on April 30.
|549|| Muthoot Finance to set up 100 white-label ATMs this quarter|
Muthoot has planned to set up 100 white-label ATMs across the country this quarter with the focus on rural and semi-urban areas.
The company inaugurated its first ATM in Chennai, also the 29th in the country, Kerala-based Muthoot Finance said in a statement.
"With this launch, we have gone an extra mile by challenging ourselves to set up 9,000 WLAs (white-label ATMs) within three years with our aim to launch 100 ATMs in this quarter," Muthoot Group Director George M Jacob said.
A white-label ATM is similar to a normal bank ATM with facilities of cash withdrawal and balance enquiry but are owned and operated by non-banking companies.
|550|| Karnataka power supply firms sign pact with APGenco|
Karnataka and Andhra Pradesh Power Generation Corporation (APGENCO) have signed a power purchase agreement (PPA) for sharing 230 MW power generated from Priyadarshini Jurala Hydro power project.
The project commissioned in April 2011 at a cost of Rs.720 crore (Rs3 crore per MW) has a built in tariff to be determined at identical rates for both the states by APERC.
The project cost is low since the dam related expenditure is incurred by irrigation department, Andhra Pradesh.
According to G Kumar Naik, Managing Director, the Karnataka Power Transmission Corporation Limited (KPTCL), the power cost of Rs.140 crore is shared equally by ESCOMs of Karnataka and DISCOMs of Andhra Pradesh. The state has paid its share of power block cost or Rs.70 crore to APGENCO recently.
|551|| Shipping companies turn to gas carriers to boost profits|
Indian shipping companies are sharpening focus on gas carriers, as this segment remains a bright spot in the otherwise lethargic shipping market.
While shipping rates across all segments have fallen after a brief winter spike during the December-January period, a spurt in demand for hauling gas has kept rates in this segment relatively stronger.
Also, this segment holds out significant opportunities for Indian companies in the medium to long term as India is estimated to need at least 15 vessels by 2017 to ship LNG to meet the country’s energy needs. GAIL alone may need at least five such carriers to bring home about six million tonnes of gas every year from 2017 from the US.
|552|| InterContinental Hotels Group ties with Jain group for Holiday Inn Durgapur|
Inter Continental Hotels Group has joined hands with city based Jain Group, to develop south Bengal's first eco-friendly Rs 75-crore 5-Star hotel.
This tie up would mark the entry of the Holiday Inn brand in Durgapur, an industrial town of the state.
The hotel is expected to be operational with 2-3 years, a release said.
|553|| Bhel signs pact with Indonesian firm to set up power plant|
Bhel said it has signed an initial agreement with PT Star Vyobros, Indonesia for setting up a 200 MW coal fired plant Sulawesi region in Indonesia .
Financial details of the pact were not divulged by the company.
Bhel has earlier signed one more MoU with PT APAC INTI, Indonesia for setting up a 25 MW-30 MW Solar Photovoltaic based power plant in the Java region in Indonesia.
|554|| India Inc invested $5.58 billion in overseas markets in April|
Overseas direct investment by Indian companies stood at $5.58 billion in April 2014, much lower than in the year-ago period.
The FDI by companies was $15.24 billion in April, 2013, the data of the Reserve Bank of India showed.
The overseas FDI during the month under consideration consisted of $1.15 billion on equity, $268.16 million on loan and $4.16 billion were through issuance of guarantees.
Telecom major Bharti Airtel, Elder Pharmaceuticals, Haldia Coke and Serum Institute were among the major companies that made investment in foreign markets in the month.
|555|| Wipro to build IT platform for Japan's Takeda|
Wipro has entered into a strategic partnership with Takeda Pharmaceutical, where Bangalore-based company will build and maintain a global platform for the Japanese pharma major.
"Wipro will be primary provider of IT Infrastructure management services covering Takeda's entities across the world, touching 30,000 users in 16 different languages, operating out of data centers in Asia, Europe and America," Wipro said in a release.
|556|| NBCC signed an MOU|
National Buildings Construction Corporation Ltd has informed that:
"National Buildings Construction Corporation Limited (NBCC) has signed an MOU with M/s. AL Naba Services LLC, Oman to explore business opportunities in GCC countries.
Further during the month of April, 2014 NBCC has procured new business of Rs. 935.51 crore."
|557|| Tripunithura Govt Arts College to Get Stadium Soon|
If all goes as per the plan of authorities, Tripunithura Government Arts College will get its own stadium soon.
According to Public Works Department (PWD) Building Division officials, the stadium will be built on 8 acres of land belonging to the college. “We have not yet prepared a detailed project plan, including facilities to be arranged at the stadium. However, we have decided to complete the project in multiple phases in accordance with the fund allotments of the state government. Now, for beginning the project, the government had allotted `94.92 lakh and we have already floated tenders for the initial phase of work,” said C T Salomi, PWD Executive Engineer.
Assistant Engineer John Simil, who is the field in charge of the project, said the first phase would be the difficult part in the whole process of constructing the stadium. “In this stage, we are planning to level the land by dumping adequate quantity of soil and a compound wall will be constructed around the ground. For this, we will also have to construct a new road to the area,” he said.
|558|| Rio Tinto set to finalise $20 bn Guinea iron ore project|
Global mining giant Rio Tinto says it is set to finalise a USD 20 billion deal to develop the world`s biggest untapped iron-ore deposit in Guinea later this month following years of delays.
The Simandou iron ore project, which could create Africa`s biggest-ever infrastructure venture, will boost Guinea`s annual revenue by USD 1.2 billion through income tax and royalty payments and pump billions more into the nation`s economy, Rio chief executive Sam Walsh said.
"Later this month, we expect to sign the investment framework that formalises our partnership with the government of Guinea, Chalco and the IFC," Walsh said in a speech in Washington and uploaded on to the company`s website.
|559|| Realtors seek single window clearance system from Modi|
The real estate sector has jumped on the Modi wave hoping for a revival in fortunes of the under-performing industry. The real estate body of Noida has sent a proposal to Narendra Modi to implement a single window clearance system for new projects to bring in greater transparency.
|560|| Edible oil industry to see four-fold increase in capex this year|
With refining business turned positive, fresh investment in the oilseed crushing and refining industry is likely to see over four-fold increase in the current financial year.
According to a report by India Rating, Indian edible oilindustry is set to attract fresh capital investment of Rs 450 crore in the financial year 2014-15 as compared to Rs 100.7 crore in the previous financial year and Rs 516 crore in 2012-13.
Large producers including Liberty Oil Mills (LOM), Haryana Oils & Soya Ltd (HOSL) and Rasoya Proteins (RPL) have already lined up investment plans, market leader Ruchi Soya Industries has focused on consolidation in its business with increased focus on brand promotion.
RPL, for example, embarked on investment of Rs 400 crore for three years on capacity expansion of its manufacturing units across Maharashtra.
“With an investment of Rs 400 crore we are planning to expand edible oil and other business in agri sector. For the first time, we are entering into branded rice segment with non-basmati rice “Rasoya” brand sale. Also, we are exploring possibility to set up bran processing unit to produce rice bran oil with raw material procured from our own mill,” said Prashant Duchakke, Executive Director, RPL.
In addition to set a footprint in rice bran oil, RPL proposes to set up a plant for manufacturing ethanol from maize and other agro produce due to potential of increasing demand of the green fuel going forward under the mandatory blending with petrol, RPL is also looking to set up a large scale rice mill unit for processing of paddy. Plans are underway to set up two tur dal processing units in Maharashtra to enter into branded oil segment.
Meanwhile, India’s veg oil consumption for kitchen is likely to increase to 18.1 million tonnes for the oil year 2013-14 (November–October) as compared to 17.4 million tonnes in 2012-13 of which import share to remain at 65% in the current year versus 61% in the previous year.
Edible oil scenario in India (million tonnes)
Edible oil production
|561|| BMW to announce its first Mexican car plant in July: report|
BMW plans to announce in July that it will build its first assembly plant in Mexico and has earmarked two regions where the site could be built, Automobilwoche reported, without citing the source of the information.
BMW said in March it will ramp up annual production capacity at its U.S. factory in Spartanburg, South Carolina to 450,000 vehicles by 2016, in a move that cuts the manufacturer's dependence on fragile European markets
|562|| Ford to inaugurate new technical facility in US|
Ford has announced the inauguration of a new technical centre in US. The ford Technical Support Centre will work towards developing performance vehicles and will help in increasing Ford’s overall mark in motorsports.
The 33,000 square foot facility is expected to go into commission later this summer, and will house a technical support centre for Ford Racing that will help teams in developing and testing their cars for competition. The location of Ford’s new facility was chosen because of its proximity to the NASCAR R&D centre and a number of other racing team headquarters.
“Motorsports and product development at Ford are interlinked, and this new centre will house advanced tools that will serve both our race teams and the development of future Ford performance vehicles,” said Raj Nair, group vice-president, Ford global product development.
|563|| China to rein supreme in world commodities in 2014: Report|
Grains, metals, meat: these are just three of the commodities being sucked in by the voracious Chinese economy which is set to be the key driver on raw materials markets this year.
French commodity research specialist Cyclope in a report published this week argues that "in the coming months, global markets will feel even the slightest sneeze from China".
China overtook India to become the world's biggest gold-consuming nation in 2013, and the World Gold Council forecasts that its appetite could jump by about 20 percent by 2017.
|564|| BMRCL defers rail project deadline to Sep 2015|
The Bangalore Metro Rail Corp Ltd (BMRCL) has postponed the deadline of the first phase of the Bangalore Metro Rail project from March 2015 to September 2015, reported The Indian Express citing BMRCL's managing director Pradeep Kharola.
The cost of the project covering 42 km has been increased from Rs 116 billion to Rs 138 billion due to around two-fold rise in land procurement cost from Rs 14 billion to Rs 22 billion.
The Phase II work of the project covering 72 km will begin within the next two months, said Kharola
|565|| Bangladesh Navy wants to set up 1320 MW coal fired power plant at Moheshkhali|
The NOU Kollan Foundation Trading Limited is interested to set up a coal fired power project at Moheshkhali to generate 1320 MW electricity.
The consortium - NKFTCL, Interport BD Limited and Lone Star Energy LLC has proposed to set up the plant to supply electricity at BDT 7.90 per unit.
As per the proposal, the project would be commissioned within 60 months after the deal and the contract period of the project would be 25 years.
On the otherside, Bangladesh Machine Tools Factory, an enterprise of the Bangladesh Army is interested to set up a 1320 MW coal fired power project at Banshkhali in Chittagong to supply electricity at same price.
Power Division has already prepared a roadmap to generate around 20,000 MW of electricity from coal based power plants by the year 2030. Of the targeted amount, 11,250 MW of electricity would be produced by using domestic coal while the rest from imported coal.
|566|| Latrobe Valley set USD 50 million for brown coal projects|
The Abbott and Napthine governments will announce the first winners of grants for projects using new technologies that process brown coal to a better quality or transform it into other products such as oil and fertilisers.
Among the grants is USD 30 million for Coal Energy Australia towards its plans for a USD 143 million plant that will produce fertiliser, char for steel making and oil from brown coal.
The other project to win out is led by Ignite Energy Resources, which is proposing an USD 84 million plant to produce oil and improve brown coal quality so it can be used in steel making. It will receive USD 20 million.
The grants come just days after the federal government axed the Australia Renewable Energy Agency and cut money for carbon capture and storage development in the federal budget.
It is understood a third grant for a project led by state-owned Chinese company Shanghai Electric is also close to being signed off from the same program.
|567|| UAE investors show interest in Indian Real Estate market|
Investors from UAE are showing much interest in India’s real estate market. Both citizens and NRIs from UAE are looking towards the Indian market for diversification. Factors including real investment trusts (REITs) in India and measures such as Land Acquisition Bill and Real Estate Regulatory Bill, along with the prospect of a stable currency help boost the confidence of investors. ASK group, has received much response from investors and is looking towards collecting funds to invest in housing development in India.
“Family offices currently are more proactive in participating in India growth story and we hope the process of institutional investors has begun. [We've] got encouraging response from family offices and could able to close more than 50 per cent of the fund from UAE currently,” explained Sunil Rohokale, Managing Director and CEO of ASK Group.
|568|| Malaysia Q1 GDP expands 6.2% year-on-year, beats |
Malaysia's economy grew 6.2 per cent in the first quarter, its fastest pace in more than a year and better than expectations, supported by an improved external environment and resilient domestic demand.
The country's central bank also said the current-account surplus jumped to RM19.8 billion (US$6.1 billion) in the quarter from RM14.8 billion in the fourth quarter of 2013.
The median forecast in a Reuters poll was for first quarter GDP to grow 5.5 per cent, up from 5.1 per cent in the fourth quarter. The poll forecast full-year growth of 4.9 per cent, up from 4.7 per cent in 2013.
|569|| NES Global Talent Taps into Oil and Gas Opportunities in Middle East|
NES Global Talent, the manpower solutions provider, is expanding in the Middle East in order to make the most of oil and gas opportunities across the region in locations including Iraq, Kurdistan and Abu Dhabi.
The company recently opened a second office in the Iraq region. The new Erbil operation in Iraqi Kurdistan will act as a business hub for activity across the wider region, meaning it is on the ground to support its contractors and key clients and able to make the most of the opportunities available across Kurdistan.
“Iraqi Kurdistan is one of the hottest spots globally for the oil and gas industry,” said Vikram Nanda, NES Global Talent Operations Manager in Iraq. “The size of the oil market has attracted many leading operators and huge amounts of investment. Currently, the majority of companies are at exploration stage and once this turns to production the need for manpower will increase significantly. We will be best placed when this happens.
|570|| Dr Reddy's Laboratories's to invest $450 m for product development|
Dr Reddy's Laboratories (DRL) is likely to invest around $300 million towards its proprietary product portfolio and nearly $150 million towards the biologic segment.
The company, which will also increase its research and development (R&D) spends to around 10-11% of sales in the current fiscal from 9.4% in the last, is trying to increase its focus on biosimilars and proprietary products.
|571|| Citi Research ups growth forecast to 6.5% in 2015-16|
Citi Research – a division of Citigroup Global Markets – has raised its India GDP growth forecast for 2015-16 to 6.5 per cent on expectations of an accelerated pick-up in investments.
Citi had earlier projected economic growth for 2015-16 at 6.2 per cent. It has, however, retained the GDP growth forecast for 2014-15 at 5.6 per cent.
While the new Government is likely to set the wheels in motion immediately, its effects on the economy will be lagged and a full-fledged recovery will be realised only in 2016-17, Rohini Malkani, Chief Economist, Citi India, said in a research note.
|572|| Wal-Mart to engage with new govt; focus on wholesale biz|
Wal-Mart India said it will “engage and work” with the new government and continue to focus on the cash and carry business in the country in the backdrop of Narendra Modi led BJP getting mandate to come to power at the Centre.
US retail giant Wal-Mart operates 20 wholesale stores under the brand ‘Best Price’ in India.
In April, Wal-Mart announced it plans to open 50 wholesale stores in the next four to five years to expand its footprint in the country.
This was the first major announcement by the US retailer after it called off a six-year partnership with Bharti Enterprises in October last year and decided to operate stores independently in India.
Company also plan to extend B2B e—commerce platform to our members, providing them with a convenient online shopping opportunity.
|573|| Volkswagen Group to invest 100 million euros on new models, localisation in India|
Volkswagen Group is planning to invest about 100 million euros (over Rs 800 crore) in India to expand business, including launches of sedan and SUV in the compact segment along with a hatchback.
"At present, an investment of approximately 100 million euros is in the decision process for new models and for further localisation of parts and components," Volkswagen India President and Managing Director Mahesh Kodumudi told a news agency.
"We intend to make these investments step-wise as decisions are realised. In summary, we intend to make these 'further large investments' over a period of the next few years before the end of this decade," Kodumudi said.
|574|| Singapore’s Expanding Petrochemical Industry Welcomes New Players: Rikvin|
Second Minister for Trade and Industry S.Iswaran’s announcement this week on the joint developemnt of a LPG impoert facility by Holland’s Vopak and South Korea’s SK Gas in Jurong Island has reinforced Singapore’s viability to international petrochemical companies says Rikvin. The announcement took place at the inauguration of the new facility by Infineum International in Jurong Island, which is jointly operated by ExxonMobil and Shell to produce salicylate for the use as lubricant additives.
The vibrancy of the petrochemical industry in Singapore is attributed to the investments poured in by the major global players of this industry such as BASF, Lanxess, Mitsui Chemicals, and Shell. To date, the country has raked in over S$35 billion as it steadies itself as the world’s petrochemical hub.
Earlier this year in March, Sumitomo Chemicals launched their first Asian plant outside Japan in Jurong Island, making it one of the world’s largest manufacturing sites for the synthetic rubber with a yearly capacity of 40,000 metric tons. Even before that in January 2014, the oil and gas mammoth ExxonMobil unveiled their largest-ever, multibillion dollar chemical expansion plant in Jurong Island, making it the country’s largest manufacturing investment by far.
“There is a growing demand for petrochemical products all over the world and petrochemical companies are recognising that Singapore is the region’s brightest petrochemical hub to cater to such demand”, said Ms. Christine Lim, General Manager of Rikvin.
|575|| BPCL inks deals to import crude oil from Kuwait, UAE|
Bharat Petroleum Corporation Ltd (BPCL) has signed contracts to import over 7 million tonnes of crude oil from Kuwait and the United Arab Emirates (UAE).
The company and its subsidiary Bharat Oman Refineries Ltd "signed the contract to import 4.2 million tonnes of crude oil from Kuwait in 2014-15. BPCL would also be importing 3 million tonnes of ADNOC grades of crude oil for 2014-15," BPCL said in a statement.
|576|| Infrastructure investment to bear fruit in 5 to 6 months, plan panel member says|
In what could come as a positive indication for the next government, Planning Commission member (infrastructure) B K Chaturvedi that investment in infrastructure would rebound in the next 5-6 months.
A lot of work has been done in the past few months and most of the issues have been addressed. All these will result in bringing back investment particularly in road, power and port sectors," Chaturvedi said.
Even road transport and highways secretary Vijay Chhibber said that there are already signs of revival. "We are pushing more projects no matter whether the works are on build-operate-transfer (BOT) or on government-funding mode. The situation will improve further."
Meanwhile, the National Highways Authority of India (NHAI) has started the process of tweaking the model concession agreement (MCA) to bring comfort to financial institutions for lending and also to the concessionaires.
"Obviously, investors want to take more projects. Though some steps have been taken to push investment, there is a need to take more to revive investors' sentiment," said Sudhir R Hoshing, CEO (roads) of Reliance Infrastructure.
|577|| Novasep invests €¬4 mn to expand HPAPI manufacturing plant|
Novasep, a leading supplier of services and technologies for the life sciences industry, announces that its €4 million (USD 5.5m) investment to expand its highly potent active pharmaceutical ingredients (HPAPI) manufacturing capabilities at its Le Mans facility in France has reached fruition. The plant extension has been fully qualified and is now being used to scale up validation of a commercial ADC (antibody drug conjugate) payload.
|578|| First organic farming training centre to come up near Dhule|
The first training centre for organic farming will soon be set up at Vadane near Dhule in Nashik division by the agriculture department of the state government. A grant of Rs 5 lakh has already been approved for the purpose.
"The proposed training centre is expected to be ready by August-end. It is the policy of the state to set up training centres at the farms of those farmers who have good experience in organic farming and are ready to impart practical training to other farmers. The government has approved three farming training centres, two for Aurangabad division and one for Nashik division.
|579|| Chaayos launches two chai-cafes in Delhi|
Chaayos, a chai-café chain has opened two outlets in Noida, Delhi. Chaayos also offers a broad range of Indian and international sandwiches. Founded by IIT graduates, Chaayos has a presence in corporate areas as well as retail spaces. The chain already has three other locations in Gurgaon viz DLF Cyber City, Gurgaon ,Infospace SEZ (near Udyog Vihar) and Galleria market in Gurgaon.
|580|| Rs 170cr boost for horticulture sector in Maharashtra|
The integrated horticultural development mission has sanctioned Rs 170 crore for Maharashtra state government. The importance of the mission, launched by the Union government, is that most of the beneficiaries are from Kolhapur, Satra and Sangli districts of western Maharashtra.
H D Nandavte, director of the State Horticulture and Medicinal Plant Board, said, "The Rs 170 crore are to be utilized to bring more area under horticultural crops, including mango, grapes, pomegranates and cashew. The Marathwada area is known for Kesar mangoes, while Pune, Nashik, Sangli and Solapur have emerged as major grape and pomegranate producers. The Kolhapur district has the largest flower growers and the business is expanding in the district."
|581|| Willing to work with Indian govt to take ties forward: China|
As the Narendra Modi led Bharatiya Janata Party (BJP) won a decisive mandate in the Lok Sabha elections, China said it is willing to work with the new Indian government to take their bilateral strategic partnership to a new height.
|582|| Telecom industry's five-point agenda for new govt|
Make more spectrum available for data usage
Rationalise the taxes and levies in the sector
Facilitate introduction of new and efficient technologies such as M2M and cloud computing
Implement the benefits of the status for the industry in parity with other infrastructure sectors in the country
Exploring a revenue sharing arrangement between the over the top Internet players and telecom companies
The telecom operators has put out a five-point action plan for the new Government primarily aimed at reducing levies and improving the financial health.
|583|| Icrisat ties up with SEWA|
The International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) has tied up with Self Employed Women’s Association (SEWA) of India to share Information and Communication Technology (ICT)-based knowledge.
The association also calls for collaboration in agricultural innovation initiatives to help improve productivity and profitability of small farmers.Both the organisations have signed a memorandum of understanding at Ahmedabad, an ICRISAT press release said.
|584|| Idco in talks with NEERI, EPTRI to prepare EIA for Odisha PCPIR|
The Odisha Industrial Infrastructure Development Corporation (Idco) is in talks with National Environmental Engineering Research Institute (NEERI) and Environmental Protection Training and Research Institute (EPTRI) to prepare environment impact assessment (EIA) for the PCPIR (petroleum, chemicals and petrochemicals investment region) hub in the state.
Idco has already received proposal from Hyderabad-based EPTRI for comprehensive EIA. The preparation of Terms of Reference (ToR) and its approval is expected by September this year.
The Paradeep PCPIR is being developed on 284 sq km with processing area of 123 sq km at Kendrapara and Jagatsinghpur districts. During the first phase (2010-20), 195.34 sq km of the hub will be developed in Jagatsinghpur district near the 15 million tonne refinery of Indian Oil Corporation Ltd (IOCL) being built at a cost of Rs 37,000 crore. In the second phase, to be implemented between 2020 and 2030, 88.80 sq km will be developed in Kendrapara district.
The PCPIR has been approved with a Viability Gap Funding (VGF) of Rs 716 crore by the Government of India. A special purpose vehicle called Paradeep Investment Region Development Ltd has been formed as a fully owned subsidiary of Idco to implement the project.
Idco is in the process of land acquisition for building support infrastructure and industrial corrider for the processing area of Phase-I. Out of 123 sq km needed for processing area in the two phases, 45 per cent of land is under the existing units.
Existing units within the PCPIR hub include the fertiliser units of Indian Farmers Fertiliser Cooperative Ltd (Iffco) and Paradeep Phosphates Ltd (PPL) and a calcined petroleum coke making facility of Paradeep Carbon Ltd.
Industries on the pipeline are steel projects proposed by Posco India and Essar Steel, 0.365 million tonne per annum (mtpa) greenfield ammonium nitrate plant planned by Deepak Fertilisers Ltd and 0.22 mtpa calcined petroleum coke project by Kalinga Calciners Ltd.
The PCPIR is expected to draw investments of Rs 2.77 lakh crore. Petroleum and petrochemicals sector has the biggest share at Rs 234,000 crore followed by housing & allied infrastructure (Rs 23,100 crore), external infrastructure (Rs 13,634 crore), chemicals & fertilisers (Rs 3,500 crore) and ancillary sectors (Rs 3,500 crore).
The mega project is set to create employment for 648,000 people which includes direct employment for 227,000 people and indirect employment for 441,000 others. The turnover of this hub is estimated at Rs 4.23 lakh crore with an export potential of Rs 43,000 crore. The PCPIR is expected to generate taxes to the tune of Rs 42,000 crore and contribute six per cent to Odisha Gross Domestic Product (GDP).
|585|| Toshiba to commercialise vegetable production at new plant factory|
Toshiba Corporation announced that it will add a new dimension to its healthcare business by starting production of pesticide-free, long-life vegetables in a closed-type plant factory that operates under almost aseptic conditions.
The company has begun construction of the plant factory at a facility in Yokusuka in Japan's Kanagawa Prefecture, and will start shipping lettuce, baby leaf greens, spinach, mizuna and other vegetables in the second quarter of 2014.
Annual sales are estimated at 300 million yen.
|586|| Reliance Jio signs infra-sharing agreement with Tower Vision|
Reliance Jio Infocomm Ltd (RJIL) has signed a telecom tower-sharing agreement with Tower Vision India. Company controlled by billionaire Mukesh Ambani, this is the fifth tower agreements in the recent past as it gears up to launch 4G services in the country.
RJIL had earlier entered into similar agreements with Bharti Infratel, Viom Networks and Reliance Communications. It had also signed an inter-city optical fibre sharing agreement with RCom in April last year as part of a comprehensive framework of business co-operation between the companies.
These agreements, according to industry sources, will help the company provide 4G services on a pan-India basis. The company intends to launch services by October or December this year.
|587|| Russia's Lukoil to drill for tight gas in Saudi desert|
Saudi Arabia- Russia's Lukoil is set to drill deep for unconventional gas in Saudi Arabia's challenging "Empty Quarter" desert region early next year after a decade-long hunt for conventional deposits that has proved futile.
The world's top oil exporting nation invited international oil companies (IOCs) - such as Lukoil, Royal Dutch Shell and Sinopec - to find and pump gas in its southeast Empty Quarter, known as Rub al Khali, more than 10 years ago.
The IOCs, which formed joint ventures with state oil firm Saudi Aramco, failed to find commercially viable deposits and while the others have abandoned the search, Lukoil has not.
It plans, with Saudi Aramco, to drill two, very deep evaluation wells at depths of up to 19,000 feet in the Mushaib tight gas field in the Empty Quarter, two industry sources said.
A Lukoil Overseas official said the joint venture will drill the first well in the first quarter of 2015 and the second during the last six months. Saudi Aramco declined to comment.
"The cost will be very high compared to unconventional reservoirs in the United States," said one industry source.
|588|| Three consortia bid for Montenegro oil exploration, drilling rights|
Three international oil and gas consortia filed bids for oil exploration and drilling rights off the southern Adriatic coast of Montenegro, Economy Minister Vladimir Kavaric said.
The consortia are:
U.S.-based Marathon Oil Corporation (MRO.N) and Austrian energy firm OMV (OMVV.VI), Italy's Eni (ENI.MI) and Russian No. 2 gas firm Novatek (NVTK.MM), as well as UK-based Mediterranean Oil&Gas Plc (MOG.L) and Greek Energean Oil&Gas, Kavaric said.
He said the ministry plans to pick the best bid in autumn and pass the choice to parliament for approval. The contract could be wrapped up by the end of 2014, Kavaric added.
The tender which closed on Thursday offered the exploration of 13 blocks, covering an area of 3,000 square kilometres. The government said concessions at locations that prove promising will be awarded for a period of 30 years.
|589|| Waste to Energy: Kasturirangan panel pitches for tax sops, 40% viability gap funding for PPP projects|
The task force, headed by K Kasturirangan, has proposed a target of setting up 215 Waste to Energy plants by 2031 to generate 1,075 MW of power and has strongly pitched for setting these up through public-private partnerships (PPPs) with viability gap funding of up to 40 per cent.
The task force, which submitted its report to the Planning Commission, also calls for an integrated approach towards municipal solid waste management, stressing the need for segregation of waste at source with private sector help.
The report proposes a model scheme for such projects and proposes exemption from corporate income-tax for the first five years, immediate refund of value-added tax and a feed-in tariff, which means higher price for renewable energy, among other things.
|590|| Germany keen on tie-up with Railways|
Germany will soon send a 20-member team to India to explore collaboration with Railways, Rainer Schmiedchen, Consul Generalin Kolkata.
The team, consisting of the European nation’s top railway and economic ministry officials, will arrive next week.
“They (delegation) will like to outsource production capacity to India. Price pressure in Europe rail sector is on the higher side. They are looking for new sources of procuring,” the Consul General said.
The delegation will also see the production sites of Eastern Railway, Schmiedchen told reporters on the sidelines of the Indo-German Business Conclave organised jointly by Assocham and VDMA (Verband Deutscher Maschinen- und Anlagenbau - German Engineering Federation). According to the Consul General, bilateral trade stood at € 16 billion.
|591|| Poultry industry to see improvement in profit margins: ICRA|
Though volatile realizations, wide supply-demand disparity across regions amid high feed costs remain a concern, the poultry industry is expected to report improved profit margins in the last quarter of 2013-14 and in 2014-15, ratings agency ICRA has said.
Strong performances in 2010 and 2011 resulted in sizeable investments in capacity expansion, especially in the broiler segment leading to an oversupply situation. "The efforts of key integrators in the poultry industry to control supply through measures like hatching holidays initiated towards the fag end of 2012 resulted in improved realizations in the last quarter of 2012-13," ICRA stated.
|592|| SeaWorld strikes tentative deal for theme park in Middle East|
SeaWorld Entertainment Inc. said that it has reached a tentative deal for a theme-park resort in the Middle East, which become the Orlando-based company's first overseas destination.
SeaWorld Entertainment Inc. which owns 11 parks across the United States, said it has signed a memorandum of understanding with a partner to "assess the viability of a multi-park development in the Middle East." It would not identify the partner, though SeaWorld said it was an entity with "an established track record of opening and operating world-class attractions."
SeaWorld executives said they are confident they will get a final deal done.
|593|| DHL awarded contract to manage warehousing operations for leading global footwear brand in Japan|
Crocs Japan, has awarded DHL Supply Chain, the global market leader for contract logistics solutions, a two-year contract to manage its national warehouse operations in Narita, Japan. Under the new agreement DHL will be responsible for the entire warehouse operations including varieties of value added services and multi-channel logistics of Crocs footwear for retailers across the country.
|594|| Nissan Set to Achieve Full Output Capacity at Oragadam Facility|
The Japanese automobile maker Nissan is now looking at reaching full capacity at their Oragadam (Chennai) plant to produce 480,000 units per year. Nissan took its exports tally to 1.16 lakh units in Fy14 beating MSL which exported 1.01 lakh.
Speaking to Express, President (India Operations), MD and CEO of Nissan Motor India Private Ltd (NMIPL), Kenichiro Yomura said that they had a current capacity of around 400,000 units. The manufacturing plant is a JV with French automobile maker Renault and Nissan accounts for nearly 70% of the production numbers.
|595|| Karnataka alters rules to hasten project clearance|
Karnataka Government has amended the Industry Facilitation Act and decentralised powers to clear projects at district level.
The amendment will now facilitate setting up of single window committee at districts headed by the Deputy Commissioner. The committee now has got powers to approve projects up to Rs. 15 crore.
While the State-Level Single Window Clearance Committee headed by the Chief Secretary gets powers to approve projects between Rs 15 crore and Rs 100 crore, the State level High Level Committee will approve projects valued more than Rs 100 crore.
|596|| AMC drags feet over Rs 464 crore drainage project|
It is more than 15 days since the standing committee approved the Rs 464-crore drainage project, but the AMC is yet to move a step towards its completion.
After repeated rounds of negotiations with the lowest bidder - M/s Khillari Infrastructure, the AMC managed to settle the deal at Rs 464 crore and got it approved by the civic panel on April 29. The initial offer of the company was Rs 490 crore.
|597|| Vopak, SK Gas to develop LPG facility on Jurong Island|
Dutch company Vopak and South Korea's SK Gas will jointly develop a liquefied petroleum gas (LPG) import facility on Jurong Island, enhancing the competitiveness of Singapore's petrochemical industry by giving firms on the island an alternative feedstock to naphtha.
The move was announced by Second Minister for Trade and Industry S Iswaran at the opening of Infineum International's new facility on Jurong Island.
The plant operated by Infineum -- a joint venture between ExxonMobil and Shell - will produce salicylate, which is used in lubricant additives.
Mr Iswaran said Singapore is keen to strengthen its position as a global energy and chemicals hub.
|598|| DHL to build new warehouse facility in Singapore|
DHL Supply Chain, has unveiled plans to build its Advanced Regional Centre at Singapore's Tampines LogisPark. The facility is a joint investment worth S$160 million between DHL and Cache Logistics Trust, a Real Estate Investment Trust (REIT).
It is expected to increase the company's warehouse capacity in Singapore by 40 per cent, create another 500 jobs, and further strengthen transport capabilities, IT and people.
Construction is expected to be completed by the second half of 2015.
|599|| Katare Spinning Mills to commission solar power project|
Katare Spinning Mills announced that shortly the company will be commissioning a One MW solar power project with tracking system for captive consumption. Annually it will generate about 19 lakh units of electricity which will result in saving of Rs 8 per unit for the company.
It will be one unique combination to reduce the cost of production substantially and such type of experiment is for the bright future of textile industry and it is expected to set new benchmark in the industry.
|600|| Expansion of American Logistics Company in Singapore Signals its Booming Logistics Industry: Asiabiz Services|
Representing their largest facility in South Asia, Menlo Logistics have opened their 8th high-tech facility in Singapore last week at a staggering investment of S$127 million, which has sent a strong signal about the profitability of starting a logistics business in Singapore.
Catering to the storage and distribution needs of a variety of industries such as apparel, automotive, and consumer electronics, the S$1.9 billion global company’s opening of the 50,000 square metre state-of-the-art warehouse marks the American-founded company’s remarkable success in Singapore’s logistics industry. Menlo Logistics has grown to serve over 200 local and international businesses including major clients like Asia Pacific Breweries and Philips & Bosch since their incorporation in Singapore in 2001.
|601|| Jaypee plans Rs.18,000 crore initial investment in microchip facility|
The Jaypee Group will proceed with its ambitious microchip fabrication facility in partnership with International Business Machines Corp., betting that a new government at the centre will boost infrastructure development, the lack of which has discouraged semiconductor makers from setting up plants in Asia’s third-largest economy.
Noida-based Jaypee, whose business interests include real estate, power and cement, will invest Rs.18,000 crore through group company Jaiprakash Associates Ltd in the first phase and is targeting the Indian electronics market with annual imports of $20 billion.
Jaypee Group will decide between Uttar Pradesh and Madhya Pradesh for setting up the factory and will hold a majority stake in the new business.
|602|| Centre sets up panel to identify more coal mines for auction|
In a bid to expedite coal auction process, the Centre has announced a nine-member panel, which will identify more blocks, in addition to already selected 54 mines, for sale through competitive bidding.
The committee will also select blocks from areas explored after 2008.
The ministry said it will also examine the status of CBM (coal-bed methane) blocks and areas relinquished by operators.
Besides, it will also examine the status of preparedness of Coal India for development of already allotted blocks to it and find out scope of re-allocation of blocks of CIL, keeping in view their long-term production commitments.
It is also mandated to identify de-allocated blocks in which there is no legal dispute.
|603|| Air India invites bids for insurance of $9-billion, 105-aircraft fleet|
Air India invited bids from Indian companies for renewal of insurance for its entire 105-aircraft fleet worth a whopping $9 billion, even as it is in the process of acquiring the remaining 13 of the 27 Dreamliners it has ordered.
The bids, invited from Indian insurance firms on standalone basis or as a consortium, would have to be submitted by June 4, officials of the national carrier said. The process has begun to firm up the companies, which would provide the insurance cover for the fleet, due for renewal from October 1.
|604|| Modi-led govt likely to boost job market in India: Experts|
Experts are anticipating a spurt in the job market on the expectation that the BJP leader would revive the economy, particularly the manufacturing sector.
HR consultancy firm Unison International has estimated the job market to grow by at least 30 per cent under Modi's rule. According to the firm, as many as 15-20 million jobs may be created and which could further get a boost if BJP comes at the center on its own.
Echoing similar sentiments, CareerBuilder India has projected that at current GDP growth rate, there are about 2 million jobs on hold which will be rolled out in case Modi is able to form a stable government at the Centre.
"Apart from these 2 million jobs, over the next 12 to 24 months, GDP growth is expected to get in the range of 5.5 to 6 per cent which should further boost job creation in excess of 20 per cent," CareerBuilder India MD Premlesh Machama said.
Meanwhile, experts also feel hiring in the manufacturing would surge as Modi is believed to give more focus in this sector. Besides, the job market in IT, infrastructure, banking, tourism and healthcare are also likely to get a push.
|605|| Public hearing held on four-laning of road|
A public hearing on the proposed widening of the road between Old Pettai and Shencottai was held on May 14.
As widening of arterial roads across the State has been taken up with World Bank assistance, the Department of Highways has proposed to convert the existing 51-km-long two-way stretch into a four-lane. Since this exercise would require the acquisition of lands, the public hearing was conducted.
|606|| Cement makers: Give waste heat recovery systems renewable energy status|
Co-generation of power through waste heat recovery (WHR) systems should be given renewable energy status, according to the Cement Manufacturers' Association (CMA).
N A Viswanathan, Secretary - General, CMA, said renewable energy status to waste heat recovery would also help mini cement plants.
G Jayaraman, Chairman of the conference and Executive President, Birla Corporation Ltd, said WHR systems have the potential to generate 500-600 MW of power.
“WHR projects are picking up and the installed capacity is expected to reach over 200 MW in 2014,” he said.
|607|| Thiruvananthapuram, Kozhikode monorail projects to begin by November|
The preliminary works of the monorail project for Thiruvananthapuram and Kozhikode cities are expected to commence by November 1, Minister for Public Works, Kerala V.K. Ebrahim Kunju has announced.
The international bidding to select a turnkey contractor for the project would close by May 31 and the other formalities would be completed by October, he told reporters. The project will be taken up as a priority scheme under the Pubic Works Department’s Mission 676 and the first reach of the monorail network in the two cities would be completed by March 31, 2016.
|608|| Odisha sets deadline for completion of roads|
Odisha government has set the deadline to complete construction of road and railway lines leading to Puri and development of parking places before the 'Nabakalebara' festival of Lord Jagannath next year.
The decision to complete the projects before June 2015 was taken at a high level meeting presided over by chief secretary J K Mohapatra who instructed the concerned departments to finish the work within the scheduled timeframe without fail.
|609|| DB Schenker's newest facility in Singapore awarded|
DB Schenker's newest integrated logistics facility in Singapore, set to be completed in May 2014, has bagged the Green Mark Platinum award, the highest standard under the Singapore's Building & Construction Authority (BCA) Green Mark scheme.
The facility, located at the Tampines LogisPark, 15 minutes from Changi International Airport, will serve customers from key industries, such as Healthcare, Electronics, and Automotive, amongst others.
The 41 million Euros facility will have a gross floor area of approximately 54,520 square meters spread across three floors.
|610|| New TBRL testing facility launched|
From testing payloads for manned missions to space to critical fuses for missile warheads, India has built its own indigenous capabilities in Chandigarh.
The facility is a 4-km long Rail Track Rocket Sled Penta Rail Supersonic Track at the Terminal Ballistics Research Laboratory (TBRL), under the Defence Research and Development Organisation. It was formally launched by Avinash Chander, Scientific Adviser to Raksha Mantri.
Manjit Singh, Outstanding Scientist and Director TBRL said, the facility consists of five rails, each having a length of 4 km, on which a test article can be propelled at supersonic speed with the help of specially designed rockets. The track is precision aligned and capable of withstanding high level of loads.
|611|| M&M opens new technical centre in Michigan|
The Mahindra Group has opened a new technical centre in the US state of Michigan to facilitate the company’s expansion into automotive markets worldwide and would create 112 jobs with a total capital investment of $2 million.
Mahindra North American Technical Centre, being opened with support from Michigan Strategic Fund and the Michigan Economic Development, will design, develop and prototype complete vehicle designs to facilitate Mahindra & Mahindra’s expansion into automotive markets worldwide.
The Michigan Economic Development Corp (MEDC) had said that Mahindra is opening this new division in the City of Troy and has recently located into a newly renovated facility that will provide the necessary infrastructure to accomplish these activities.
|612|| Nasscom charts out five-point agenda for new Indian Govt|
Nasscom has prepared a five-point agenda for the new Indian Government to help its IT companies contribute in the development agenda within the country and to enable them in increasing their global footprint.
“The first is what all measures the Government needs to take to enable innovation and support entrepreneurship. Another suggestion on the agenda is to make the domestic investment easier and simpler. The agenda, details of which are still being fine-tuned, talks about the rules and regulations, including the rules regarding listing an IPO and taxation on stock options to employee of a company.
According to the Nasscom President, the Government needs to ensure that the rules for opening and operating the small business are “far simpler” than those are at the moment. He advocated for simpler version of regulatory framework for these companies.
Prominent among other areas of Nasscom agenda is to promote the growth and global competitiveness of the IT industry by building new markets, expanding existing markets, focusing on skill development.
|613|| 5,000-cr project to improve mobile connectivity in North-East|
The Ministry of Communication and Information Technology is planning to extend basic mobile coverage, including voice calling, in far-flung areas of eight north-eastern States, at an estimated cost of over Rs. 5,000 crore. The States include Assam, Arunachal Pradesh, Meghalaya, Mizoram, Manipur, Tripura, Sikkim and Nagaland.
Under the project, new telecom towers (in uncovered areas) will be set up as greenfield installations; coverage along National Highways is to be perked up and, if required, optical fibre cables laid.
While approximately Rs.2,400 crore will be spent as capital expenditure (tower installation and laying cables); the remaining Rs. 2,670 crore would be for maintenance and op-ex over a five-year-period.
Funding would be through the Universal Service Obligation Fund.
|614|| Jaipur Metro to function from August|
Jaipur Metro would most likely start its commercial operations in the Pink City by the end of August this year, official sources said .
The trial run of the Metro will most probably begin in July on its first-phase route from Mansarovar to Chandpole, 10 km, and the commercial operations for commuters by the end of August, JMRC Chief Managing Director NC Goyal said.
|615|| Economy on revival path, but challenges remain: Experts|
The sharp rally in the stock market is driven by expectations of a reforms drive after the new government assumes office, which is likely to help script a revival of economic growth, economist say, but caution that the challenge is formidable.
"Financial markets are forward looking and sentiment driven and they can pick up before the real economy picks up," said D K Joshi, chief economist at ratings agency Crisil.
Some economists said the perception of India among investors has turned positive in the past few months due to the steps taken by the Reserve Bank of India and the government to stabilize the economy and the currency. Still some concerns remain.
|616|| IT infra market will touch $1.9 b this year: Gartner|
The Indian IT infrastructure market — comprising server, storage and networking equipment — is set to grow by four per cent this year to touch $1.9 billion, research firm Gartner has indicated.
“In the global landscape, India is a promising IT infrastructure market through 2017…The global IT infrastructure investment is expected to be almost flat in 2014 and will be primarily driven by hyper scale and data centre modernisation initiatives,” said Mike Harris, research group vice-president at Gartner.
Naveen Mishra, research director at Gartner, said that India’s IT infrastructure market will touch $2.35 billion by 2017. “After sluggish market conditions in 2013, the Indian infrastructure market will witness investments primarily fuelled by key IT initiatives that include mobility, cloud and big data,” said Mishra.
The research firm indicates that Indian enterprises will be focusing on building intelligent data centres that focus on optimising existing hardware assets by using additional software capabilities. Separately, Gartner said that competition for talent would determine the success of digital business.
|617|| Lupin to set up Japan-focused manufacturing unit in India|
The new plant is expected to be operational by end 2014, post which the company will start applying for product approvals in Japan.
Nilesh Gupta, MD, Lupin told CNBC TV18, “We are looking at regular optimization of capacities for Japan and are also setting up a separate suite in Goa dedicated for Japan.”
Currently about 12-15 percent of production for Japan comes from Goa. The existing unit in Goa makes finished dosages for four products for Japan and will be adding two more products in this year.
|618|| NALCO expansion plans await nod for Potangi bauxite mines|
The National Aluminium is awaiting the government nod to get the Potangi mines to add the fifth stream to its alumina refinery at Damanjodi in Odisha’s Koraput district.
Mr Anshuman Das CMD of Nalco said that “We have planned to add up one million tonne per annum (mtpa) at the Damanjodi project. Once we get the Potangi mines, we would be able to start the plant. The Potangi bauxite mine has mineable reserve of about 70 million tonnes.”
Mr Das said that “The company has plans to go for the fifth stream refinery based on medium pressure digestion technology. The capacity of the stream will be approximately 1 million tonne per annum and investment will be around INR 5,000 crore. The capacity of the refinery at Damanjodi is set to reach 3.3 million tonne per annum with the addition of one mtpa plant.”
It may be noted here that the company has already obtained the approval of the state government’s High Level Clearance Authority to set up a new 0.5 million tonne per annum aluminium smelter and 1,260 MW captive power plant at a cost of INR 16,450 crore at Kepse in Sundargarh district.
Mr Das said that “Regarding Panchabatmali bauxite reserve at north and central block, we should be able to get the mining lease within two months. The state government is expected to recommend to the government of India for the mining lease within a month or two.”
|619|| India to overtake Japan to become 3rd largest oil consumer, says US|
India will surpass Japan on its way to becoming the world's third largest oil consumer behind the US and China by 2025, US Energy Information Administration (EIA) has said.
EIA in its Annual Energy Outlook said India's oil consumption will rise from 3.68 million barrels per day (173.5 million tonnes) in 2012 to 5.19 million bpd in 2025, overtaking Japan's 4.38 million bpd consumption.
Japan consumed 4.75 million bpd of oil in 2012. India currently is the fourth largest oil consumer in the world behind the US, China and Japan. The US will continue to be the world's biggest oil consumer but with almost no demand growth. The US consumed 18.21 million bpd of oil in 2012 which is projected to rise to 19.23 million bpd in 2020 before falling to 18.97 million bpd in 2025 and to 18.42 million bpd in 2040.
|620|| IOCL opens automated retail outlet in Mysore|
Mysore has become the fifth city in the country and second in the State to have fully automated retail outlets of the Indian Oil Corporation Ltd.The four other cities to have such a facility are Mangalore, Chandigarh, Jamnagar and Baroda.
|621|| Jubilant inks drug discovery pact with Finland's Orion Corp|
Jubilant Life Sciences has signed a drug discovery pact with Finland's Orion Corporation to develop medicines in the neuroscience therapeutic area, the company said in a statement.
Under the royalty-based alliance, Orion will provide royalty to Jubilant and will retain ownership of the compounds developed under the collaboration with exclusive worldwide rights, the company said.
Jubilant will offer integrated drug discovery services across synthetic and medicinal chemistry including scale up and pre-clinical facilities, it added.
The research for the project, which has been initiated, will be undertaken primarily at R&D laboratories of Jubilant Biosys (India) and some parts at Jubilant Discovery Center, USA, the company said.
|622|| Cigniti expands to Europe|
Cigniti Technologies Ltd, an independent testing services company, has expanded its operations to Europe by opening an office in London. The company opened the London office to tap the opportunities in the UK and Europe.
“We see a lot of growth in the UK and European markets. The UK is a mature market for software services and enterprises here understand the importance of working with independent software testing services providers,” Srikanth Chakkilam, Executive Director of Cigniti Technologies.