New Delhi: Dell Services has unveiled a cloud-based solution that delivers integrated clinical and financial systems for healthcare providers in India. This is a scalable and widely accessible to suit the unique needs of Indian healthcare providers.
Targeted at midsized hospitals, large hospital chains and clinic networks, the solution ensures that providers have instant access to uniform workflows and customized reports across entities and geographies. Through a centralized approach, the solution gives healthcare providers the ability to adopt automated workflows and business processes using a single-instance application, reducing operational complexity and dependencies on paper records. This not only prevents manual errors and time delays, but will also enhance decision making and improve the patient experience.
With this solution, end-users (physicians, nurses and back office staff) can access cloud-based applications and reports through the use of a simple conventional browser. The solution also allows users to remain connected via smart phones and other hand-held devices, ensuring secure and anytime, anywhere access to information.
Commenting on the role of cloud in enabling better healthcare outcomes, Dr Ashwin Naik, Founder and CEO, Vaatsalya, India's first hospital network focused on Tier II and Tier III towns said, "The healthcare industry in India is increasingly turning to IT adoption to improve patient outcomes. As hospitals and providers expand their operations with new referral centers, facilities, and acquisitions in new geographies, the need to access, integrate and connect these disparate systems is gaining importance. Cloud-based technology has the potential to addresses most of the IT-related issues -- access to the right information at the right time and operational efficiency, among others. More importantly it is affordable, scalable and flexible."
Dell is collaborating with Ubq Technologies and Ramco Systems to deliver an end-to-end proposition to providers. Ubq's Hospital Information System (HIS) solution, Medics, will serve as the front-end application for patient-centric activities and will integrate with Ramco ERP on Cloud to provide customers seamless enterprise-wide application on the cloud.
Delivered as a Software-as-a-Service (SaaS) model, the solution allows healthcare providers to quickly respond to increasing demands of infrastructure and storage, and train staff without huge capital investments and recurrent readiness costs.
"We are extending Dell's proven capabilities and global healthcare leadership to India and have brought in the best-of-breed combination of HIS and ERP to help providers achieve their goal of providing efficient, information-driven healthcare in an affordable way. We will continue to bring to India unique solutions that will allow healthcare providers to focus on their number one goal-- enhanced patient care," said Sid Nair, vice president and global general manager, Healthcare & Life Sciences, Dell Services. "The solution is truly one of a kind in terms of its capabilities, delivery model and pricing. We believe that this will be a game changer for the Indian healthcare industry, where hospitals are constrained by huge upfront capital investments, and higher cost of licensing, maintenance and support."
Success in my Habit
Sunday, March 30, 2014
ACC plans waste-heat recovery system at four plants
Mumbai: After commissioning its first waste-heat recovery plant at Gagal in Himachal Pradesh, ACC plans to replicate the success at its cement plants in Wadi (Karnataka), Jamul (Chhattisgarh), Kymore (Madhya Pradesh) and Chanda (Maharashtra) with an investment of about Rs. 360 crore.
The Gagal heat recovery plant, which produces 7.5 MW, achieved stabilisation last week. It is expected to reduce over 44,000 tonnes of carbon-dioxide emission a year. Gagal, faces shortage of power during winter, as hydro-power plants taper off generation due to snowing.
ACC invested Rs. 100 crore to set up the plant which is fitted with a turbine that can enhance power production to 9 MW as and when steam availability in the cement plant improves. ACC expects to recover the investment made in Gagal in four-and-a-half years with an annual saving of Rs. 22 crore.
KN Rao, Director (Energy and Environment), told Business Line the four cement plants where the heat recovery system would be installed over 3-4 years are capable of producing 30-32 MW in all, resulting in a savings of `90-100 crore a year.
Renewable energy status
“The Wadi cement plant has the world’s largest kiln and is capable of producing up to 9 MW. We are exploring various options of funding the projects,” he said.
The cement industry has urged the Government to give renewable energy status to waste-heat recovery plants. Most of the cement companies are power surplus as they have captive power plants. The surplus power produced through waste heat is sold at Rs. 2.30 a unit due to lack of renewable energy status.
A few cement plants buy grid power at Rs. 6.20 a unit, while the production cost of thermal power works out to Rs. 4.50-5 a unit. The industry with a cement production capacity of 350 million tonnes is capable of producing about 1,000 MW through waste heat recovery, said Rao. “The industry has to invest Rs. 12,000 crore to set up 1000 MW heat recovery plants. It would be viable only if the Government fixes a competitive price for the surplus power,” he said.
Apart for heat recovery plant, ACC has drawn an elaborate plan to bring down energy consumption by 5 per cent at its 10 plants by improving efficiency.
Energy saving measures
The company targets to take up energy saving measures, which call for low investment and early payback. For instance, Rao said installation of variable speed drive to control the speed of large motors used in the cement plant does not call for huge investment and the project can be completed in sa hort span, besides payback is less than a year.
The Gagal heat recovery plant, which produces 7.5 MW, achieved stabilisation last week. It is expected to reduce over 44,000 tonnes of carbon-dioxide emission a year. Gagal, faces shortage of power during winter, as hydro-power plants taper off generation due to snowing.
ACC invested Rs. 100 crore to set up the plant which is fitted with a turbine that can enhance power production to 9 MW as and when steam availability in the cement plant improves. ACC expects to recover the investment made in Gagal in four-and-a-half years with an annual saving of Rs. 22 crore.
KN Rao, Director (Energy and Environment), told Business Line the four cement plants where the heat recovery system would be installed over 3-4 years are capable of producing 30-32 MW in all, resulting in a savings of `90-100 crore a year.
Renewable energy status
“The Wadi cement plant has the world’s largest kiln and is capable of producing up to 9 MW. We are exploring various options of funding the projects,” he said.
The cement industry has urged the Government to give renewable energy status to waste-heat recovery plants. Most of the cement companies are power surplus as they have captive power plants. The surplus power produced through waste heat is sold at Rs. 2.30 a unit due to lack of renewable energy status.
A few cement plants buy grid power at Rs. 6.20 a unit, while the production cost of thermal power works out to Rs. 4.50-5 a unit. The industry with a cement production capacity of 350 million tonnes is capable of producing about 1,000 MW through waste heat recovery, said Rao. “The industry has to invest Rs. 12,000 crore to set up 1000 MW heat recovery plants. It would be viable only if the Government fixes a competitive price for the surplus power,” he said.
Apart for heat recovery plant, ACC has drawn an elaborate plan to bring down energy consumption by 5 per cent at its 10 plants by improving efficiency.
Energy saving measures
The company targets to take up energy saving measures, which call for low investment and early payback. For instance, Rao said installation of variable speed drive to control the speed of large motors used in the cement plant does not call for huge investment and the project can be completed in sa hort span, besides payback is less than a year.
Sebi-approved film investment fund to be launched soon
Mumbai: Soon, those not connected with the Hindi film segment in any way will also be able to reap the benefits of the sector’s double-digit growth, with Third Eye Cinema Fund (TCEF), a Securities and Exchange Board of India (Sebi)-registered alternative investment fund, set to hit the market.
TCEF, which will target well-heeled investors, aims to generate about 25 per cent returns.
Kewal Handa, chief executive of the fund and ex-managing director of Pfizer, says, “Given the growth of the Indian film industry, many individuals want to invest in it, but have no clue how to go about it. Also, there are many myths such as the segment isn’t professional and organised. With the digitisation of screens and the advent of a corporate structure in major studios/production houses, these myths are being busted. What better time to enter the industry and make it more professional and transparent?”
Handa and his team have already started pitching the concept to prospective investors. He is confident the first project under the new fund will be underway by the third quarter of this year.
To ensure transparency and professionalism, the fund has roped in various agencies as auditors and advisors. While IL&FS Trust Company will act as the fund’s trustees, Fidelis, the production audit agency, will oversee and keep a check on production, in terms of costs. KPMG will look after taxation and audit, while ALMT will be the fund’s legal advisor. Karvy will play the role of a registrar.
TCEF will follow the mini studio model and seek to invest in films across functions---from pre-production to distribution and marketing. Apart from co-producing and distributing Hindi films, the fund will also explore opportunities in distributing Hollywood films not backed by major Hollywood studios in India. It will also look at syndication of content across the satellite and digital platforms by acquiring the intellectual property rights (IPR) for either the entire film or just its music.
The fund’s advisory board includes directors such as Ashutosh Gowarikar, Kunal Kohli, John Mathew Mathan, Chandraprakash Dwivedi, Sagar Bellary and Nagesh Kukunoor.
Apart from Handa, the fund’s management also comprises Chief Investment Advisor Sandeep Bhargava and Chief Operating Officer Shariq Patel.
Patel says, “We will be looking at investing in films such that the money can keep circulating at a brisk pace. We understand the risk in the film business and, therefore, will invest in different films in different ways. Our interest will be in content-driven films with budgets of Rs 5-20 crore.”
While it might not be India’s first film fund, Handa is confident an approval from Sebi will stand it in better stead. “The fund will have a more professional approach to business and will undertake due diligence. It will operate in a transparent manner, with the NAV (net asset value) published every six months to show the heath of the fund, among other things,” he says.
In 2008, Religare Enterprises and Vistaar Entertainment Ventures had joined hands to start India’s first film fund, Vistaar Religare, with a size of Rs 200 crore. In 2012, DAR Media and MentorCap Management together launched the Rs 100-crore Dar MentorCap Film Fund. While DarMentorCap Film Fund had secured Sebi approval, the fund wasn’t actively involved in investing in cinema, barring co-productions under Dar Motion Pictures.
TCEF, which will target well-heeled investors, aims to generate about 25 per cent returns.
Kewal Handa, chief executive of the fund and ex-managing director of Pfizer, says, “Given the growth of the Indian film industry, many individuals want to invest in it, but have no clue how to go about it. Also, there are many myths such as the segment isn’t professional and organised. With the digitisation of screens and the advent of a corporate structure in major studios/production houses, these myths are being busted. What better time to enter the industry and make it more professional and transparent?”
Handa and his team have already started pitching the concept to prospective investors. He is confident the first project under the new fund will be underway by the third quarter of this year.
To ensure transparency and professionalism, the fund has roped in various agencies as auditors and advisors. While IL&FS Trust Company will act as the fund’s trustees, Fidelis, the production audit agency, will oversee and keep a check on production, in terms of costs. KPMG will look after taxation and audit, while ALMT will be the fund’s legal advisor. Karvy will play the role of a registrar.
TCEF will follow the mini studio model and seek to invest in films across functions---from pre-production to distribution and marketing. Apart from co-producing and distributing Hindi films, the fund will also explore opportunities in distributing Hollywood films not backed by major Hollywood studios in India. It will also look at syndication of content across the satellite and digital platforms by acquiring the intellectual property rights (IPR) for either the entire film or just its music.
The fund’s advisory board includes directors such as Ashutosh Gowarikar, Kunal Kohli, John Mathew Mathan, Chandraprakash Dwivedi, Sagar Bellary and Nagesh Kukunoor.
Apart from Handa, the fund’s management also comprises Chief Investment Advisor Sandeep Bhargava and Chief Operating Officer Shariq Patel.
Patel says, “We will be looking at investing in films such that the money can keep circulating at a brisk pace. We understand the risk in the film business and, therefore, will invest in different films in different ways. Our interest will be in content-driven films with budgets of Rs 5-20 crore.”
While it might not be India’s first film fund, Handa is confident an approval from Sebi will stand it in better stead. “The fund will have a more professional approach to business and will undertake due diligence. It will operate in a transparent manner, with the NAV (net asset value) published every six months to show the heath of the fund, among other things,” he says.
In 2008, Religare Enterprises and Vistaar Entertainment Ventures had joined hands to start India’s first film fund, Vistaar Religare, with a size of Rs 200 crore. In 2012, DAR Media and MentorCap Management together launched the Rs 100-crore Dar MentorCap Film Fund. While DarMentorCap Film Fund had secured Sebi approval, the fund wasn’t actively involved in investing in cinema, barring co-productions under Dar Motion Pictures.
TIST team invited for Mars rover design contest
Kochi: A team of five students from Kerala has been selected for an international competition in the US for designing a rover for Mars mission.
The team from Toc-H Institute of Science and Technology (TIST) is among the 31 teams selected for University Rover Challenge (URC) from six countries.
This is for the first time a team from an engineering college in Kerala is selected for competing in the URC in the US. The team will also compete in CanSaT in US organised by American Astronautical Society (AAS) and American Institute of Aeronautics & Astronautics (AIAA) in association with NASA.
While the CanSat competition will be held in Texas in June, the URC will be held at the Mars Desert Research Station (MDRS) in the remote barren desert of southern Utah in May. The URC is the world's premier robotics competition for college students.
The six countries sending teams for the competition are the US, India, Egypt, Poland, Canada and Bangladesh. The students are from prestigious institutions, including Yale University, Cornell University and the Warsaw University of Technology.
It is for the second consecutive year that a team from TIST has been selected for the CanSat.
The five members of TIST team are: Muhammed Juhaim Ibnu Abdul Jabbar, PV Abimanyu Nair, Jibin Jose, Anoop Nayak and Joseph Stephen. The team’s faculty advisors are Kiran George Varghese and Shajan K Thomas.
The team from Toc-H Institute of Science and Technology (TIST) is among the 31 teams selected for University Rover Challenge (URC) from six countries.
This is for the first time a team from an engineering college in Kerala is selected for competing in the URC in the US. The team will also compete in CanSaT in US organised by American Astronautical Society (AAS) and American Institute of Aeronautics & Astronautics (AIAA) in association with NASA.
While the CanSat competition will be held in Texas in June, the URC will be held at the Mars Desert Research Station (MDRS) in the remote barren desert of southern Utah in May. The URC is the world's premier robotics competition for college students.
The six countries sending teams for the competition are the US, India, Egypt, Poland, Canada and Bangladesh. The students are from prestigious institutions, including Yale University, Cornell University and the Warsaw University of Technology.
It is for the second consecutive year that a team from TIST has been selected for the CanSat.
The five members of TIST team are: Muhammed Juhaim Ibnu Abdul Jabbar, PV Abimanyu Nair, Jibin Jose, Anoop Nayak and Joseph Stephen. The team’s faculty advisors are Kiran George Varghese and Shajan K Thomas.
Cipla bets big on cell therapy
Mumbai: Stem cells are set to be a major branch of medical treatment, says Cipla Chairman YK Hamied. Regenerative medicine, or cell therapy, is a rapidly emerging area of biomedical research and would be an ideal supplement for existing medical treatments, he added.
Cell therapy refers to treatments that are founded on the concept of producing new cells to replace malfunctioning or damaged cells as a vehicle to treat disease and injury.
“We have a research unit in Malaysia that is conducting research on stem cells,” Hamied said while speaking about Stempeutics Research with which it has an alliance. The Manipal Group-promoted Stempeutics is developing stem cell-based medicinal products with facilities in Kuala Lumpur (Malaysia) and Bangalore.
“We are partners in the Bangalore company,” he said. The enormous potential of stem cells in the treatment of chronic and several incurable diseases is boosting the overall stem cells therapy market, he added.
Poised to reach an estimated $88.3 billion by 2015, the global stem cells market has been growing at a compounded annual growth rate of 14.8 per cent, driven by the increasing demand of stem cell therapy.
In India, the stem cell business is expected to touch $8 billion ( Rs. 48,880 crore today) by 2015. With three phase II clinical trials in progress in India –for critical limb Ischemia (meaning restriction in blood supply to tissues), osteoarthritis and liver cirrhosis –Stempeutics aims to bring the first product into the Indian and Malaysian markets by 2015.
Under the alliance, Cipla has invested over Rs. 50 crore in Stempeutics, with a focus on research of stem cell-based products, and has done something similar in China, where it has streamlined its investments towards its core business. The drug-maker recently exited a significant part of its investment in its Chinese partner Desano Holdings.
Despite the lack of legislation and awareness, besides quality and ethical issues that have deterred growth of the stem cell therapy business in India, the country remains the top priority for the Mumbai-based drug-maker, the Cipla Chairman told Business Line .
“India is still the best. Yes, we have units in China and conduct research in Malaysia, but we have always been very nationalist minded,” said Hamied. “We have always held that the (Indian) Government can do more for domestic companies. They should give us infrastructure, strengthen indigenous manufacturers. They should not keep pandering to multinationals.”
Cell therapy refers to treatments that are founded on the concept of producing new cells to replace malfunctioning or damaged cells as a vehicle to treat disease and injury.
“We have a research unit in Malaysia that is conducting research on stem cells,” Hamied said while speaking about Stempeutics Research with which it has an alliance. The Manipal Group-promoted Stempeutics is developing stem cell-based medicinal products with facilities in Kuala Lumpur (Malaysia) and Bangalore.
“We are partners in the Bangalore company,” he said. The enormous potential of stem cells in the treatment of chronic and several incurable diseases is boosting the overall stem cells therapy market, he added.
Poised to reach an estimated $88.3 billion by 2015, the global stem cells market has been growing at a compounded annual growth rate of 14.8 per cent, driven by the increasing demand of stem cell therapy.
In India, the stem cell business is expected to touch $8 billion ( Rs. 48,880 crore today) by 2015. With three phase II clinical trials in progress in India –for critical limb Ischemia (meaning restriction in blood supply to tissues), osteoarthritis and liver cirrhosis –Stempeutics aims to bring the first product into the Indian and Malaysian markets by 2015.
Under the alliance, Cipla has invested over Rs. 50 crore in Stempeutics, with a focus on research of stem cell-based products, and has done something similar in China, where it has streamlined its investments towards its core business. The drug-maker recently exited a significant part of its investment in its Chinese partner Desano Holdings.
Despite the lack of legislation and awareness, besides quality and ethical issues that have deterred growth of the stem cell therapy business in India, the country remains the top priority for the Mumbai-based drug-maker, the Cipla Chairman told Business Line .
“India is still the best. Yes, we have units in China and conduct research in Malaysia, but we have always been very nationalist minded,” said Hamied. “We have always held that the (Indian) Government can do more for domestic companies. They should give us infrastructure, strengthen indigenous manufacturers. They should not keep pandering to multinationals.”
Swiss firm Galderma eyes India skincare, beauty market
New Delhi: Galderma, a Switzerland-based pharmaceutical company, owned by food and beverage giant Nestle, plans to tap the Rs 30,000-crore skincare and beauty market in India.
At present, it sells a little over 30 prescription-based medicines in the dermatology segment. It is now foraying into the anti-ageing injectible and over-the-counter (OTC) segments. It has introduced three to four products in the aesthetic and corrective segment, including its range of Restylane vital skin boosters. It plans at least 12 more products in the segment by 2017, of which eight would be launched this year, said Madhusudhan H K, head of the aesthetic and corrective business in India.
“There are a lot of new trends driving this business in India. We want to encash this opportunity by helping the consumer with more options,” he said. He added the aesthetic and corrective business will be primarily focused on injectibles, as there was huge space, with demand for dermal fillers and other aesthetic treatments increasing rapidly in the country.
The company is also expected to launch an OTC skin care business and has identified five specific brands for launche within the next two years.
Galderma is targeting a five-fold growth in annual sales to Rs 500 crore by 2018 in its dermatology business here. The company has manufacturing facilities in the US and France; it mostly imports its products for India. Lausanne-based Galderma was founded as a 50:50 venture of Nestle and L’Oreal. Last month, Nestle bought the other 50 per cent. Galderma is in India for 11 years. It has added acne and skin cancer treatments to Nestle’s health care product line, which includes nutrition drink brands such as Boost and some soluble fibre supplements.
To have a firm footing in the anti-ageing injectible market, Galderma has started academies in Mumbai and New Delhi to train doctors in aesthetic medicine delivery.
The idea is to create a market and standard treatment protocols for the Indian face. According to Madhusudhan, the aesthetic and corrective business in India is still in a nascent stage; Allergan is the only other established entity in the organised segment. However, there are various unorganised distributors of such products. It is seen growing rapidly, at 30-35 per cent a year.
He said the number of practitioners in India is low. “In India, there are only 800 doctors who are practising aesthetic medicine, as compared to 6,000 in Korea. So, there is a huge opportunity which we can tap,” he said.
At present, it sells a little over 30 prescription-based medicines in the dermatology segment. It is now foraying into the anti-ageing injectible and over-the-counter (OTC) segments. It has introduced three to four products in the aesthetic and corrective segment, including its range of Restylane vital skin boosters. It plans at least 12 more products in the segment by 2017, of which eight would be launched this year, said Madhusudhan H K, head of the aesthetic and corrective business in India.
“There are a lot of new trends driving this business in India. We want to encash this opportunity by helping the consumer with more options,” he said. He added the aesthetic and corrective business will be primarily focused on injectibles, as there was huge space, with demand for dermal fillers and other aesthetic treatments increasing rapidly in the country.
The company is also expected to launch an OTC skin care business and has identified five specific brands for launche within the next two years.
Galderma is targeting a five-fold growth in annual sales to Rs 500 crore by 2018 in its dermatology business here. The company has manufacturing facilities in the US and France; it mostly imports its products for India. Lausanne-based Galderma was founded as a 50:50 venture of Nestle and L’Oreal. Last month, Nestle bought the other 50 per cent. Galderma is in India for 11 years. It has added acne and skin cancer treatments to Nestle’s health care product line, which includes nutrition drink brands such as Boost and some soluble fibre supplements.
To have a firm footing in the anti-ageing injectible market, Galderma has started academies in Mumbai and New Delhi to train doctors in aesthetic medicine delivery.
The idea is to create a market and standard treatment protocols for the Indian face. According to Madhusudhan, the aesthetic and corrective business in India is still in a nascent stage; Allergan is the only other established entity in the organised segment. However, there are various unorganised distributors of such products. It is seen growing rapidly, at 30-35 per cent a year.
He said the number of practitioners in India is low. “In India, there are only 800 doctors who are practising aesthetic medicine, as compared to 6,000 in Korea. So, there is a huge opportunity which we can tap,” he said.
AirAsia India receives first A320
Chennai: AirAsia India received its first aircraft, a brand new Airbus A320, at the Chennai airport on Saturday .
The 180-seater all-economy configuration aircraft takes AirAsia India closer to launching its low cost service in the domestic sector.
According to a press release from AirAsia, the A320 from Airbus’ factory in Toulouse, France, was received with a ‘water cannon salute’ as it taxied down the runway.
AirAsia India is awaiting an air operating permit to start flying commercially. AirAsia’s CEO Tony Fernandes recently told a wire agency that AirAsia India was likely to start operations in March or April.
AirAsia India has got in-principle approval to import ten Airbus A320 aircraft.ý It has partnered with the Tata group and the Arun Bhatia-led Telstra Tradeplace to run the low-cost passenger airline service in the country. The joint venture partners announced the start of the new airline in February 2013.
Mittu Chandilya, CEO, AirAsia India, in a statement said, “The arrival of our first A320 signifies that we are a step closer to our dream to create a new benchmark in the low-cost air travel category.”
AirAsia India’s fleet will be drawn from the 475 A320 family aircraft ordered by the AirAsia Group. To date, almost a third of the aircraft on order have already been delivered and are flying on AirAsia Group’s operations out of Kuala Lumpur, Bangkok, Jakarta, Manila and now Chennai, said a company release.
The 180-seater all-economy configuration aircraft takes AirAsia India closer to launching its low cost service in the domestic sector.
According to a press release from AirAsia, the A320 from Airbus’ factory in Toulouse, France, was received with a ‘water cannon salute’ as it taxied down the runway.
AirAsia India is awaiting an air operating permit to start flying commercially. AirAsia’s CEO Tony Fernandes recently told a wire agency that AirAsia India was likely to start operations in March or April.
AirAsia India has got in-principle approval to import ten Airbus A320 aircraft.ý It has partnered with the Tata group and the Arun Bhatia-led Telstra Tradeplace to run the low-cost passenger airline service in the country. The joint venture partners announced the start of the new airline in February 2013.
Mittu Chandilya, CEO, AirAsia India, in a statement said, “The arrival of our first A320 signifies that we are a step closer to our dream to create a new benchmark in the low-cost air travel category.”
AirAsia India’s fleet will be drawn from the 475 A320 family aircraft ordered by the AirAsia Group. To date, almost a third of the aircraft on order have already been delivered and are flying on AirAsia Group’s operations out of Kuala Lumpur, Bangkok, Jakarta, Manila and now Chennai, said a company release.
Engineers India Ltd bags contract in $3.6 billion Oman plastics project
New Delhi: Oman Oil Refineries and Petroleum Industries Company (Orpic) has awarded a pie of its $3.6 billion project to Engineers India Ltd, recognizing the Indian state-run engineering consultancy provider's prowess.
EIL has won the PMC (project management consultancy) contract for Orpic's Liwa Plastics Project at Sohar in Oman against international competitive bidding. The contract is valued at over $40 million and signifies the company's steady headway overseas.
EIL's contract is one of the two major awards announced by Orpic, which gave the front end engineering and design contract to Chicago Bridge & Iron Company (CB & I) operating out of The Hague, Netherlands .
Orpic is owned by the government of Oman and Oman Oil Company SAOC, the commercial company wholly owned by the government created investment in the energy sector.
Liwa Plastics Project consists of a new petrochemical complex adjacent to the Sohar Refinery. The feedstock for the plant is to be brought from Fahud, 300 km from Sohar. EIL's contract also includes a feedstock extraction plant in Fahud and its transportation facility to Sohar.
EIL has won the PMC (project management consultancy) contract for Orpic's Liwa Plastics Project at Sohar in Oman against international competitive bidding. The contract is valued at over $40 million and signifies the company's steady headway overseas.
EIL's contract is one of the two major awards announced by Orpic, which gave the front end engineering and design contract to Chicago Bridge & Iron Company (CB & I) operating out of The Hague, Netherlands .
Orpic is owned by the government of Oman and Oman Oil Company SAOC, the commercial company wholly owned by the government created investment in the energy sector.
Liwa Plastics Project consists of a new petrochemical complex adjacent to the Sohar Refinery. The feedstock for the plant is to be brought from Fahud, 300 km from Sohar. EIL's contract also includes a feedstock extraction plant in Fahud and its transportation facility to Sohar.
Kassia inks MoU with Karachi Chamber
Bangalore: Karnataka Small Scale Industries Association (Kassia) and Karachi Chamber of Commerce and Industry (KCCI) have signed an MoU to explore trade development through their institutional members.
The MoU was signed by Mumammad Idrees, Vice-President, Karachi Chamber of Commerce and Industry and BP Shashidhar, President, Kassia.
Earlier on Friday, the Federation of Indian Micro and Small and Medium Enterprises (FISME) and Kassia jointly organised a seminar on trade opportunities between India and Pakistan at Kassia Udyog Bhavan here.
Addressing the meet, Ravi Kumar, Senior Zonal Manager, NSIC, told the Pakistani delegation that NSIC had signed MoUs with nearly 30 countries and was open to doing the same with Pakistan too once the two countries signed the FTA (free trade agreement).
He hoped that India and Pakistan would move swiftly towards signing the FTA. Shashidhar said the MSME sector in Karnataka contributed 40 per cent of exports to 80 countries, comprising a whole range of engineering items.
Mohan Suresh, former president, FISME, pleaded for signing of trade agreements between India and Pakistan.
A 16-Member industry delegation comprising representatives of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Karachi Chamber of Commerce and Industry (KCCI), Lahore Chamber of Commerce, Islamabad Chamber of Commerce, Islamabad Women Chamber of Commerce and All Pakistan Furniture Makers Association took part in the seminar.
The delegation represented industrialists from various sectors
The MoU was signed by Mumammad Idrees, Vice-President, Karachi Chamber of Commerce and Industry and BP Shashidhar, President, Kassia.
Earlier on Friday, the Federation of Indian Micro and Small and Medium Enterprises (FISME) and Kassia jointly organised a seminar on trade opportunities between India and Pakistan at Kassia Udyog Bhavan here.
Addressing the meet, Ravi Kumar, Senior Zonal Manager, NSIC, told the Pakistani delegation that NSIC had signed MoUs with nearly 30 countries and was open to doing the same with Pakistan too once the two countries signed the FTA (free trade agreement).
He hoped that India and Pakistan would move swiftly towards signing the FTA. Shashidhar said the MSME sector in Karnataka contributed 40 per cent of exports to 80 countries, comprising a whole range of engineering items.
Mohan Suresh, former president, FISME, pleaded for signing of trade agreements between India and Pakistan.
A 16-Member industry delegation comprising representatives of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Karachi Chamber of Commerce and Industry (KCCI), Lahore Chamber of Commerce, Islamabad Chamber of Commerce, Islamabad Women Chamber of Commerce and All Pakistan Furniture Makers Association took part in the seminar.
The delegation represented industrialists from various sectors
Ibibo buys 51% stake in YourBus.com
Mumbai: Online travel company Ibibo Group, that owns portals such as Goibibo.com, redBus.in and Travelboutique has acquired 51 per cent stake in online bus tracking and analytics platform YourBus.com for an undisclosed amount.
With this Ibibo is all set to achieve a leadership position in the online travel space that has players such as Makemytrip.com, Yatra.com, Cleartrip, Ixigo and Akbar Travels.
Ibibo, which is owned by South Africa based Naspers, had acquired RedBus for Rs 780 crore last year.
Ashish Kashyap, CEO of ibiboGroup, said: “Our key motivation to acquire YourBus is to enhance passenger experience at redBus.in and Goibibo.com, whilst at the same time providing additional technologies and analytics to the Bus operators so as to increase their efficiencies in the marketplace. ”
IbiboGroup will integrate the YourBus platform with both its existing online travel properties, redBus.in and Goibibo.com. Following this YourBus founders Rajesh Mallipeddi and Satya Padmanabham will work closely with the RedBus team. YourBus is functional in 200 buses and is already integrated with redBus’ mobile and web applications. The acquisition will enable the YourBus team to expand its reach potentially to thousands of buses.
Founded in 2011, Yourbus is a GPS-based tracking platform, which solves problems for both bus travelers and bus operators. Bus travelers can access real time information regarding the location of a bus on their mobiles as well as online. Furthermore, important information such as bus delays and time of departure is pushed to passengers via both SMS and web notifications.
Bus operators are able to track their buses and get detailed analytics on punctuality and efficiency of their buses. They can sort this information by route, bus driver and vehicle number and also get estimated time of arrival reports and other weekly /daily location based reports.
With this Ibibo is all set to achieve a leadership position in the online travel space that has players such as Makemytrip.com, Yatra.com, Cleartrip, Ixigo and Akbar Travels.
Ibibo, which is owned by South Africa based Naspers, had acquired RedBus for Rs 780 crore last year.
Ashish Kashyap, CEO of ibiboGroup, said: “Our key motivation to acquire YourBus is to enhance passenger experience at redBus.in and Goibibo.com, whilst at the same time providing additional technologies and analytics to the Bus operators so as to increase their efficiencies in the marketplace. ”
IbiboGroup will integrate the YourBus platform with both its existing online travel properties, redBus.in and Goibibo.com. Following this YourBus founders Rajesh Mallipeddi and Satya Padmanabham will work closely with the RedBus team. YourBus is functional in 200 buses and is already integrated with redBus’ mobile and web applications. The acquisition will enable the YourBus team to expand its reach potentially to thousands of buses.
Founded in 2011, Yourbus is a GPS-based tracking platform, which solves problems for both bus travelers and bus operators. Bus travelers can access real time information regarding the location of a bus on their mobiles as well as online. Furthermore, important information such as bus delays and time of departure is pushed to passengers via both SMS and web notifications.
Bus operators are able to track their buses and get detailed analytics on punctuality and efficiency of their buses. They can sort this information by route, bus driver and vehicle number and also get estimated time of arrival reports and other weekly /daily location based reports.
Mobiado set to enter India with Mihaus
New Delhi: Canadian luxury mobile brand Mobiado has tied up with premium multi-brand electronic retailer Mihaus to enter the Indian market. Mobiado handsets are priced anywhere between Rs. 2.6 lakh and Rs. 20 lakh.
Mobiado was founded in 2004 in Vancouver by Canadian engineer Peter Bonac. It has a full keyboard, encrusted with sapphire crystal buttons and 3G technology.
The company is understood to be manufacturing less than 1 lakh units a year.
Mihaus, promoted by Naveen Rao, Managing Director of Navshiv Retail, will retail and service the brand in India.
Charu Makin, National Head, Sales & Marketing, Mihaus, said Mobiado has entered into a 10-year exclusive partnership with the company. “One of the biggest glitches with high-end brands was that there were no adequate post-sale services. We will address the service aspect also besides the distribution”.
Besides Mobiado, Mihaus retails brands such as Audio Pro and Loewe.
Makin said Mobiado was added to its portfolio as there was a latent demand for high-end handsets.
“The new generation is willing to spend money on high-end devices that are not just aesthetically good but also don’t compromise on the functionality,” she said, adding the target market for the brand is in the 21-45 year age bracket.
Mobiado will compete with brands like Nokia's Vertu, Tag Heuer Meridiist, Lamborghini, Armani and Dior handsets.
According to reports, the global market size for luxury phones is estimated at $500 million-$1 billion growing at nearly 20-25 per cent. Of this, Asia-Pacific alone accounted for 60 per cent of the business.
Mihaus has four stores in New Delhi, Mumbai and Bangalore. “We are looking at two more stores in near term”.
Mobiado was founded in 2004 in Vancouver by Canadian engineer Peter Bonac. It has a full keyboard, encrusted with sapphire crystal buttons and 3G technology.
The company is understood to be manufacturing less than 1 lakh units a year.
Mihaus, promoted by Naveen Rao, Managing Director of Navshiv Retail, will retail and service the brand in India.
Charu Makin, National Head, Sales & Marketing, Mihaus, said Mobiado has entered into a 10-year exclusive partnership with the company. “One of the biggest glitches with high-end brands was that there were no adequate post-sale services. We will address the service aspect also besides the distribution”.
Besides Mobiado, Mihaus retails brands such as Audio Pro and Loewe.
Makin said Mobiado was added to its portfolio as there was a latent demand for high-end handsets.
“The new generation is willing to spend money on high-end devices that are not just aesthetically good but also don’t compromise on the functionality,” she said, adding the target market for the brand is in the 21-45 year age bracket.
Mobiado will compete with brands like Nokia's Vertu, Tag Heuer Meridiist, Lamborghini, Armani and Dior handsets.
According to reports, the global market size for luxury phones is estimated at $500 million-$1 billion growing at nearly 20-25 per cent. Of this, Asia-Pacific alone accounted for 60 per cent of the business.
Mihaus has four stores in New Delhi, Mumbai and Bangalore. “We are looking at two more stores in near term”.
Tech Mahindra sets up third delivery centre in Germany
Mumbai: IT solutions company Tech Mahindra has set up its third delivery center in Düsseldorf, Germany, for servicing European clients.
The 50-seat centre would also engage with local academia and provide work experience to students in the Nordrhein-Westfalen region, Tech Mahindra said in a press statement.
“This delivery center, in the heart of the Nordrhein-Westfalen region will also help us attract and retain local talent which is crucial to the next phase of our growth in the region,” said Vishaal Gupta, Head (Telecom) - Europe, Tech Mahindra
Currently, the company serves its European customers through 26 offices across 31 cities.
The 50-seat centre would also engage with local academia and provide work experience to students in the Nordrhein-Westfalen region, Tech Mahindra said in a press statement.
“This delivery center, in the heart of the Nordrhein-Westfalen region will also help us attract and retain local talent which is crucial to the next phase of our growth in the region,” said Vishaal Gupta, Head (Telecom) - Europe, Tech Mahindra
Currently, the company serves its European customers through 26 offices across 31 cities.
IRCTC records over half a million ticket bookings
New Delhi: Indian Railways Catering and Tourism Corporation (IRCTC) booked over half a million e-tickets on Wednesday. This is the highest number booked through the website in a single day.
The earlier record was set on September 2, 2012, when the online ticket portal of Indian Railways booked 572,000 tickets.
Currently, the site books 463,000 tickets in a day, compared to the average of 385,000 tickets booked in a day in 2013. That is a growth of 20 per cent year-over-year. This translates into a daily transaction of more than Rs 53 crore currently, as against Rs 37 crore in 2013.
In an effort to tackle consumer complaints regarding the slow speed of the website, IRCTC recently launched IRCTC Lite during tatkal booking hours. This service paid dividends in the form of increased number of bookings during the tatkal period, registering a jump of 40 per cent since February, said a press release by IRCTC.
"Our aim is to increase the booking rate to more than 7,000 tickets per minute from its present rate of 2,000 tickets and ultimately to make the site capable of handling 120,000 users at any point of time, as compared to its existing capacity of 40,000 users," a senior IRCTC official said.
The earlier record was set on September 2, 2012, when the online ticket portal of Indian Railways booked 572,000 tickets.
Currently, the site books 463,000 tickets in a day, compared to the average of 385,000 tickets booked in a day in 2013. That is a growth of 20 per cent year-over-year. This translates into a daily transaction of more than Rs 53 crore currently, as against Rs 37 crore in 2013.
In an effort to tackle consumer complaints regarding the slow speed of the website, IRCTC recently launched IRCTC Lite during tatkal booking hours. This service paid dividends in the form of increased number of bookings during the tatkal period, registering a jump of 40 per cent since February, said a press release by IRCTC.
"Our aim is to increase the booking rate to more than 7,000 tickets per minute from its present rate of 2,000 tickets and ultimately to make the site capable of handling 120,000 users at any point of time, as compared to its existing capacity of 40,000 users," a senior IRCTC official said.
Indian luxury car market youngest in world
Chennai: India's demographics have turned the country into one of the youngest luxury /premium car markets in the world. Top luxe brands like Audi, Mercedes-Benz and BMW — which together comprise more than 95% of India's luxury car market — say that India's luxury car demographic is among the youngest even in the emerging market pecking order.
Take Audi which, with its more than 10,000 unit tally, is now the No. 1 luxury car brand in the Indian market. India tops the list of young markets for Audi across the world, pipping hot spot China to the game. Said Joe King, head, Audi India: "The average age of luxury car buyer in India is around 35 years. Globally , it would be 43-45 years. In the Audi ecosystem, India is our youngest market."
Dittos Mercedes-Benz , which has also been targeting the 30+ age bracket with its new compact line-up . Said Santosh Iyer, head of marketing , Mercedes-Benz India: "India is certainly among our youngest markets. Typically, emerging markets show a younger profile compared to developed ones. So China, Brazil and Russia too are quite young markets for example . The average age globally and in India has come down after the introduction of new models like the A Class and B Class. In India, the average age for the A Class for example is 34-35 years but for the S Class it would be 45-50 years. So it differs model to model."
Luxury car marketers say part of the young drive has to do with the new range of compact products from the big three in the luxury automotive business. "Products like the Q3 and now the soon-to-belaunched A3 appeal to a younger set of customers," said Audi's King. "In future, the used cars will further expand this young customer base."
Auto experts say with an average price tag of around Rs 35 lakh, the entry into the luxury car segment is a tough call for most young buyers in markets like India. For example , the median age of BMW's customers stretches from 30 to 60 years. "It's not as if only young people buy luxury cars, but it is certainly true that more of them are now entering this segment in India thanks to products like the 1 Series," said the BMW spokesman.
That's why it's the entrylevel segment — comprising models like the A Class and B Class or the X1 or soon-to-debut A3 — that has had the maximum appeal among the sub-40 age bracket where the price tag is in the Rs 20 lakhplus category.
Auto experts say India's young demographic is among its most exciting aspects as an emerging market. "The thirst for luxury in India is enormous ," said Audi's King, a reason why the big three luxe brands are now looking at non-metro markets for incremental growth.
Take Audi which, with its more than 10,000 unit tally, is now the No. 1 luxury car brand in the Indian market. India tops the list of young markets for Audi across the world, pipping hot spot China to the game. Said Joe King, head, Audi India: "The average age of luxury car buyer in India is around 35 years. Globally , it would be 43-45 years. In the Audi ecosystem, India is our youngest market."
Dittos Mercedes-Benz , which has also been targeting the 30+ age bracket with its new compact line-up . Said Santosh Iyer, head of marketing , Mercedes-Benz India: "India is certainly among our youngest markets. Typically, emerging markets show a younger profile compared to developed ones. So China, Brazil and Russia too are quite young markets for example . The average age globally and in India has come down after the introduction of new models like the A Class and B Class. In India, the average age for the A Class for example is 34-35 years but for the S Class it would be 45-50 years. So it differs model to model."
Luxury car marketers say part of the young drive has to do with the new range of compact products from the big three in the luxury automotive business. "Products like the Q3 and now the soon-to-belaunched A3 appeal to a younger set of customers," said Audi's King. "In future, the used cars will further expand this young customer base."
Auto experts say with an average price tag of around Rs 35 lakh, the entry into the luxury car segment is a tough call for most young buyers in markets like India. For example , the median age of BMW's customers stretches from 30 to 60 years. "It's not as if only young people buy luxury cars, but it is certainly true that more of them are now entering this segment in India thanks to products like the 1 Series," said the BMW spokesman.
That's why it's the entrylevel segment — comprising models like the A Class and B Class or the X1 or soon-to-debut A3 — that has had the maximum appeal among the sub-40 age bracket where the price tag is in the Rs 20 lakhplus category.
Auto experts say India's young demographic is among its most exciting aspects as an emerging market. "The thirst for luxury in India is enormous ," said Audi's King, a reason why the big three luxe brands are now looking at non-metro markets for incremental growth.
Friday, March 7, 2014
Canara Bank, Biocon Foundation, and OTTET join hands for e-health project in Odisha
Bangalore: Canara Bank has lent support to Biocon Foundation and OTTET (Orissa Trust of Technical Education) for a public private partnership (PPP) with the Odisha government to deliver a novel e- healthcare program for the underprivileged and rural communities in the state.
OTTET has been actively engaged in an e-health program with the Odisha government to provide access to quality healthcare for 51,000 villages in the state. Now, Biocon Foundation has joined hands with OTTET to augment and implement a unique mega-ICT based e-Health project in the state.
Under this partnership Biocon Foundation & OTTET will set up an electronic diagnostic facility, an e-Health Centre, managed by local young entrepreneurs, at all Primary Health Centers (PHC) in Odisha. The entrepreneurs will be provided financial assistance by Canara Bank and will be trained by Biocon Foundation & OTTET to support the medical officer at the PHC for various healthcare and diagnostic services.
OTTET has been actively engaged in an e-health program with the Odisha government to provide access to quality healthcare for 51,000 villages in the state. Now, Biocon Foundation has joined hands with OTTET to augment and implement a unique mega-ICT based e-Health project in the state.
Under this partnership Biocon Foundation & OTTET will set up an electronic diagnostic facility, an e-Health Centre, managed by local young entrepreneurs, at all Primary Health Centers (PHC) in Odisha. The entrepreneurs will be provided financial assistance by Canara Bank and will be trained by Biocon Foundation & OTTET to support the medical officer at the PHC for various healthcare and diagnostic services.
Daimler India to start manufacturing buses from Chennai plant
Chennai: Truck manufacturer Daimler India Commercial Vehicles will start manufacturing buses from its facility near Chennai by the second quarter of 2015.
The company laid the foundation stone for the Rs. 425 crore (€50 million) factory on Thursday adjacent to its truck manufacturing plant at Oragadam, an industrial suburb of Chennai. Daimler India, the subsidiary of Daimler of Germany, is consolidating its entire truck and bus manufacturing operations in India with this plant.
Intra-city Transport
The factory with a capacity of about 1,500 buses a year, with capacity to increase to 4,000 units, will make Mercedes-Benz, rear-engine luxury buses and Bharat Benz front engine buses for the ‘volume market’ catering to intra city transport, school and staff buses.
The company has also entered into a supplier arrangement with Wrightbus of Northern Ireland to build the bus body for the Bharat Benz range.
Addressing the foundation stone laying ceremony, Marc Llisotella, Managing Director and CEO, Daimler India, said the company launched Bharat Benz, a new brand, of trucks in April 2012 and has over 14 variants in the market. The company hopes to replicate its success with trucks with the bus brand. Wolfgang Bernhard, Daimler AG Board Member in charge of trucks and buses, said the 28-acre facility at the truck factory complex will make nine tonnes to 16-tonne and heavier category, multi-axle buses. Daimler India will also export the buses and chassis to Africa and South East Asia, beginning with Indonesia. The company will use the Bharat Benz dealership network to market the buses in India.
Hartmut Schick, Head, Daimler Buses and CEO, EvoBus GmbH, said Daimler India will supply the Bharat Benz chassis to Wrightbus to build the complete bus. The international bus body building company has the flexibility and speed for this operation.
Mercedes Benz chassis will be built at the new factory and the engines imported from Brazi;. Daimler will build the high end Mercedes-Benz buses itself.
India and China are the key markets for Daimler. With an annual demand of about 40,000 buses, India’s market is half that of China. But with a population matching China’s, the growth potential is huge, he said.
The company laid the foundation stone for the Rs. 425 crore (€50 million) factory on Thursday adjacent to its truck manufacturing plant at Oragadam, an industrial suburb of Chennai. Daimler India, the subsidiary of Daimler of Germany, is consolidating its entire truck and bus manufacturing operations in India with this plant.
Intra-city Transport
The factory with a capacity of about 1,500 buses a year, with capacity to increase to 4,000 units, will make Mercedes-Benz, rear-engine luxury buses and Bharat Benz front engine buses for the ‘volume market’ catering to intra city transport, school and staff buses.
The company has also entered into a supplier arrangement with Wrightbus of Northern Ireland to build the bus body for the Bharat Benz range.
Addressing the foundation stone laying ceremony, Marc Llisotella, Managing Director and CEO, Daimler India, said the company launched Bharat Benz, a new brand, of trucks in April 2012 and has over 14 variants in the market. The company hopes to replicate its success with trucks with the bus brand. Wolfgang Bernhard, Daimler AG Board Member in charge of trucks and buses, said the 28-acre facility at the truck factory complex will make nine tonnes to 16-tonne and heavier category, multi-axle buses. Daimler India will also export the buses and chassis to Africa and South East Asia, beginning with Indonesia. The company will use the Bharat Benz dealership network to market the buses in India.
Hartmut Schick, Head, Daimler Buses and CEO, EvoBus GmbH, said Daimler India will supply the Bharat Benz chassis to Wrightbus to build the complete bus. The international bus body building company has the flexibility and speed for this operation.
Mercedes Benz chassis will be built at the new factory and the engines imported from Brazi;. Daimler will build the high end Mercedes-Benz buses itself.
India and China are the key markets for Daimler. With an annual demand of about 40,000 buses, India’s market is half that of China. But with a population matching China’s, the growth potential is huge, he said.
IT firms getting more business from Europe
Bangalore: For the first time since the 2008 financial crisis, Indian software exporters are beginning to see early signs of outsourcing business from Europe.
iGATE has won a $35 million, five-year outsourcing contract from Länsförsäkringar Alliance, a large Swedish financial services company. Around the same time, Royal Philips of the Netherlands extended its existing seven-year outsourcing agreement with Infosys to provide finance and accounting-related services for another five years.
Some of the outsourcing is coming through the inorganic route. For instance, late last month, Tech Mahindra, one of the top five Indian IT outsourcers, said that it would acquire the software services unit of German chemicals company BASF.
Similarly, in January, Virtusa acquired TradeTech, a Swedish financial services company.
Winds of change
Outsourcing deals, which were hard to come by in the pre-2008 era for Indian firms, got worse after the great recession. But they are starting to come back. “In the past, European companies were not convinced, unlike their American counterparts, regarding cost reduction as the sole motive to outsource. They demanded more value, which Indian outsourcers were unable to offer then. This is changing,” says Sanjoy Sen, a senior director at Deloitte.
In 2012, European companies were sitting on $1 trillion of working capital, according to European consultancy firm REL. This translates to roughly ten times the size of the Indian outsourcing sector. But when compared to the overall contribution, Europe accounts for around 30 per cent of the $100 billion IT exports sector.
A growing number of European companies believe that offshore firms are ideal partners to help them stay competitive, be more agile and address talent shortages,” says Peter Schumacher, President & Founder, Value Leadership Group.
Further, a study by Ernst and Young has estimated that 75 per cent of IT services have not been outsourced.
All that is starting to change, according to Indian IT companies. Some of them are putting in strategies to reap benefits once outsourcing demand opens up completely. For example, late last year, Wipro appointed Carl-Henrik Hallstrom as Regional Head for the Nordic region.
iGATE has won a $35 million, five-year outsourcing contract from Länsförsäkringar Alliance, a large Swedish financial services company. Around the same time, Royal Philips of the Netherlands extended its existing seven-year outsourcing agreement with Infosys to provide finance and accounting-related services for another five years.
Some of the outsourcing is coming through the inorganic route. For instance, late last month, Tech Mahindra, one of the top five Indian IT outsourcers, said that it would acquire the software services unit of German chemicals company BASF.
Similarly, in January, Virtusa acquired TradeTech, a Swedish financial services company.
Winds of change
Outsourcing deals, which were hard to come by in the pre-2008 era for Indian firms, got worse after the great recession. But they are starting to come back. “In the past, European companies were not convinced, unlike their American counterparts, regarding cost reduction as the sole motive to outsource. They demanded more value, which Indian outsourcers were unable to offer then. This is changing,” says Sanjoy Sen, a senior director at Deloitte.
In 2012, European companies were sitting on $1 trillion of working capital, according to European consultancy firm REL. This translates to roughly ten times the size of the Indian outsourcing sector. But when compared to the overall contribution, Europe accounts for around 30 per cent of the $100 billion IT exports sector.
A growing number of European companies believe that offshore firms are ideal partners to help them stay competitive, be more agile and address talent shortages,” says Peter Schumacher, President & Founder, Value Leadership Group.
Further, a study by Ernst and Young has estimated that 75 per cent of IT services have not been outsourced.
All that is starting to change, according to Indian IT companies. Some of them are putting in strategies to reap benefits once outsourcing demand opens up completely. For example, late last year, Wipro appointed Carl-Henrik Hallstrom as Regional Head for the Nordic region.
Passport Seva goes rural through Common Services Centers
The Ministry of External Affairs, along with CSC e-Governance Services India Limited {which is promoted by the Department of Electronics and Information Technology (DeitY)}, is all set to launch Passport related services through the vast network of over one lakh Common Services Centers (CSCs) across rural hinterland. The initiative would largely bridge the digital divide in the country.
The CSC Scheme was approved by the Government of India in September 2006 for setting up of 100,000+ (One Lakh+) Internet enabled centers in rural areas under the National e-Governance Plan (NeGP). The CSCs are the delivery points for Government, Private and Social Sector services in the areas of agriculture, health, education, banking, insurance, pension, utility bill payments, entertainment, etc. to rural citizens of India at their doorstep. The passport related services are being added as part of their bouquet of services.
Under the Passport Seva, the Ministry of External affairs has made it mandatory to complete the entire form filing process on-line, including payment of applicable fee and scheduling of appointment for seeking Passport related services. The CSCs would facilitate filling and uploading of Passport application form, payment of applicable fee (through debit/credit card or through SBI internet banking/challan mode) and scheduling of appointment for the visit to the Passport Seva Kendra (PSK) at nominal charge not exceeding Rs. 100/-. As per the appointment schedule, an applicant will have to visit the PSK for completion of application submission process (including collection of digital photographs/biometrics, verification of supporting documents and approval). The services through CSCs would be available throughout the week, including during the weekend.
The services would be shortly launched in pilot mode at 15 select CSC locations in Uttar Pradesh and Jharkhand in the second week of March 2014. The full roll out across the country is expected to conclude by end of March 2014.
For more details related to passport services, Passport website (www.passportindia.gov.in) or the National Call Centre (toll free number 1800-258-1800) may be accessed.
The CSC Scheme was approved by the Government of India in September 2006 for setting up of 100,000+ (One Lakh+) Internet enabled centers in rural areas under the National e-Governance Plan (NeGP). The CSCs are the delivery points for Government, Private and Social Sector services in the areas of agriculture, health, education, banking, insurance, pension, utility bill payments, entertainment, etc. to rural citizens of India at their doorstep. The passport related services are being added as part of their bouquet of services.
Under the Passport Seva, the Ministry of External affairs has made it mandatory to complete the entire form filing process on-line, including payment of applicable fee and scheduling of appointment for seeking Passport related services. The CSCs would facilitate filling and uploading of Passport application form, payment of applicable fee (through debit/credit card or through SBI internet banking/challan mode) and scheduling of appointment for the visit to the Passport Seva Kendra (PSK) at nominal charge not exceeding Rs. 100/-. As per the appointment schedule, an applicant will have to visit the PSK for completion of application submission process (including collection of digital photographs/biometrics, verification of supporting documents and approval). The services through CSCs would be available throughout the week, including during the weekend.
The services would be shortly launched in pilot mode at 15 select CSC locations in Uttar Pradesh and Jharkhand in the second week of March 2014. The full roll out across the country is expected to conclude by end of March 2014.
For more details related to passport services, Passport website (www.passportindia.gov.in) or the National Call Centre (toll free number 1800-258-1800) may be accessed.
GDP may grow 5.6% next fiscal: India Ratings
New Delhi: The economy is likely to grow 5.6 per cent in the next fiscal, India Ratings and Research has said. This is lower than the Government’s estimate of 6 per cent.
IMF has projected a growth rate of 5.4 per cent while NCAER says it will be 5.6 per cent. The World Bank has given most optimistic estimate of 6 per cent. Growth in 2013-14 is estimated at 4.9 per cent.
“The economic growth in FY15 (2014-15) is likely to be contributed majorly by the industrial sector, which is estimated to grow by 4.1 per cent. This is good news for centre as well state government finances,” it said in a report on public finances. State finances were likely to remain resilient to the slowdown, it said, estimating some slippage in the fiscal deficit of states, which could go up to 2.3 per cent against 2.2 per cent in 2013-14.
Value added tax (VAT) on petroleum products could pose a concentration risk for the consolidated state finances if crude oil prices decline, though this presently looks difficult. The petroleum sector contributed nearly 30 per cent (with a growth of 14.4 per cent on yearly basis) to the VAT collection of states.
Aggregate debt of states as a percentage of GDP is likely to increase to 21.7 per cent in the current fiscal from the budgeted estimate of 21.5 per cent. Despite this slippage, debt will be sustainable as the agency believes nominal growth of the economy in excess of interest rate on debt will continue to support the agency’s debt sustainability expectations. However, indirect risk such as guarantee and deficit, state PSUs' debt could impact the credit profile of some states.
It expects the liquidity of state governments to remain comfortable in 2014-15. Even in the current fiscal most states did not face difficulty due to a surge in investment in the national small savings fund.
IMF has projected a growth rate of 5.4 per cent while NCAER says it will be 5.6 per cent. The World Bank has given most optimistic estimate of 6 per cent. Growth in 2013-14 is estimated at 4.9 per cent.
“The economic growth in FY15 (2014-15) is likely to be contributed majorly by the industrial sector, which is estimated to grow by 4.1 per cent. This is good news for centre as well state government finances,” it said in a report on public finances. State finances were likely to remain resilient to the slowdown, it said, estimating some slippage in the fiscal deficit of states, which could go up to 2.3 per cent against 2.2 per cent in 2013-14.
Value added tax (VAT) on petroleum products could pose a concentration risk for the consolidated state finances if crude oil prices decline, though this presently looks difficult. The petroleum sector contributed nearly 30 per cent (with a growth of 14.4 per cent on yearly basis) to the VAT collection of states.
Aggregate debt of states as a percentage of GDP is likely to increase to 21.7 per cent in the current fiscal from the budgeted estimate of 21.5 per cent. Despite this slippage, debt will be sustainable as the agency believes nominal growth of the economy in excess of interest rate on debt will continue to support the agency’s debt sustainability expectations. However, indirect risk such as guarantee and deficit, state PSUs' debt could impact the credit profile of some states.
It expects the liquidity of state governments to remain comfortable in 2014-15. Even in the current fiscal most states did not face difficulty due to a surge in investment in the national small savings fund.
Thursday, March 6, 2014
GVK commissions 330 MW hydel project in Uttarakhand
Hyderabad: GVK Power & Infrastructure Ltd has commissioned its 330 MW Shrinagar hydro-electric project developed on the Alakananda, in Uttarakhand.
Energy generation
The plant, in Garhwal district, is expected to supply 12 per cent of the energy to Uttarakhand at no charge. The balance 88 per cent power generated will go to the Uttar Pradesh Power Corporation Ltd under a Power Purchase Agreement.
Uttar Pradesh Chief Minister Akhilesh Yadav inaugurated the project in the presence of Samajwadi Party President and Union Minister Mulayam Singh Yadav.
The 248-metre-long project has been developed at 90 metres from deepest foundation level dam. It is expected to utilise the net head of around 66 metres between the diversion dam and the power house to generate electricity.
The water conductor system consists of two head race tunnels, RCC troughs, power channel and penstocks.
Energy generation
The plant, in Garhwal district, is expected to supply 12 per cent of the energy to Uttarakhand at no charge. The balance 88 per cent power generated will go to the Uttar Pradesh Power Corporation Ltd under a Power Purchase Agreement.
Uttar Pradesh Chief Minister Akhilesh Yadav inaugurated the project in the presence of Samajwadi Party President and Union Minister Mulayam Singh Yadav.
The 248-metre-long project has been developed at 90 metres from deepest foundation level dam. It is expected to utilise the net head of around 66 metres between the diversion dam and the power house to generate electricity.
The water conductor system consists of two head race tunnels, RCC troughs, power channel and penstocks.
Reliance Jio signs deal for Bharti's towers
New Delhi: Weeks after bagging 1,800 MHz spectrum in 14 circles, Mukesh Ambani's Reliance Jio has started widening its telecom tower agreements to work towards a seamless launch. The company, that already holds pan-India spectrum in the 2,300 MHz band, has signed a tower deal with Bharti Airtel as it works to roll out its high-speed 4G plans where it will also offer voice over internet.
Reliance Jio signed a Master Services Agreement under which it will utilize the telecom tower infrastructure of Bharti Infratel to launch services. As per the agreement, the pricing would be at arm's length, based on prevailing market rates.
The deal with Bharti comes in even as Reliance Jio has an agreement with Anil Ambani's Reliance Communications (RCoM) for sharing of network. Reliance Jio has an inter-city optic fibre as well as tower sharing deal with RCoM, and its new tie-ups will mean that its outsourcing benefits will go to various operators and not just to the cash-strapped RCoM.
Reliance Jio signed a Master Services Agreement under which it will utilize the telecom tower infrastructure of Bharti Infratel to launch services. As per the agreement, the pricing would be at arm's length, based on prevailing market rates.
The deal with Bharti comes in even as Reliance Jio has an agreement with Anil Ambani's Reliance Communications (RCoM) for sharing of network. Reliance Jio has an inter-city optic fibre as well as tower sharing deal with RCoM, and its new tie-ups will mean that its outsourcing benefits will go to various operators and not just to the cash-strapped RCoM.
India's e-commerce to zoom to $76 bn by 2020
Ahmedabad: India’s e-commerce is expected to go up from the current $1 billion to $76 billion in the next six years, by 2020.
Only in 2013, online shopping has increased by 88 per cent, according to Saran Chatterjee, Vice-President, Product Management, Flipkart India Pvt Ltd.
This phenomenal increase in e-tailing will be due to deeper penetration of Internet-based smartphones that would make online shopping easier, he said.
While Internet has now reached almost 11 per cent population of India, smartphone business is witnessing a 150 per cent year-on-year growth.
A recent report by Boston Consulting Group noted that, at present, 45 per cent of online consumers in India use only their mobile devices to access the Internet. This is expected to increase to 60 per cent over the next three years. Mobile traffic is growing at two times the rate of desktops.
Flipkart, India’s largest e-commerce platform, is now focusing on mobile phone-based retailing in which Gujarat now ranks 8th in the country. Online marketplaces are already booking 20 per cent of their orders through mobile phones while one-thirds of Flipkart’s customers now place orders this way. “Smartphones have overtaken personal computers,” Chatterjee said.
By 2015, he said, Flipkart aims to grow its merchandise value to $1 billion.
Most articles ordered online are books, electronics and accessories. While books constitute the maximum volumes handled, electronics accounts for the maximum revenue transacted.
Launched as an online books marketplace in 2007, Flipkart now offers products across over 20 categories. It has 1.40 crore registered users and daily visits of more than 20 lakh.
Only in 2013, online shopping has increased by 88 per cent, according to Saran Chatterjee, Vice-President, Product Management, Flipkart India Pvt Ltd.
This phenomenal increase in e-tailing will be due to deeper penetration of Internet-based smartphones that would make online shopping easier, he said.
While Internet has now reached almost 11 per cent population of India, smartphone business is witnessing a 150 per cent year-on-year growth.
A recent report by Boston Consulting Group noted that, at present, 45 per cent of online consumers in India use only their mobile devices to access the Internet. This is expected to increase to 60 per cent over the next three years. Mobile traffic is growing at two times the rate of desktops.
Flipkart, India’s largest e-commerce platform, is now focusing on mobile phone-based retailing in which Gujarat now ranks 8th in the country. Online marketplaces are already booking 20 per cent of their orders through mobile phones while one-thirds of Flipkart’s customers now place orders this way. “Smartphones have overtaken personal computers,” Chatterjee said.
By 2015, he said, Flipkart aims to grow its merchandise value to $1 billion.
Most articles ordered online are books, electronics and accessories. While books constitute the maximum volumes handled, electronics accounts for the maximum revenue transacted.
Launched as an online books marketplace in 2007, Flipkart now offers products across over 20 categories. It has 1.40 crore registered users and daily visits of more than 20 lakh.
Empowered Institution (EI) Approves PPP Projects Worth Rs. 1369.51 Crores
The Empowered Institution (EI) in its Fifty-third (53rd) meeting granted approval to five (5) projects worth Rs. 1369.51 crore. Two (2) Projects granted in-principle approval were from Government of Madhya Pradesh for setting-up of 50,000 MT Modern Food Silos at Indore and Bhopal each. The EI also granted final approval to three projects approving a total Viability Gap Funding (VGF) of Rs. 260.92 crore. These comprised two road sector projects and one in the power transmission sector as follows, ‘Two laning of Guna - Ashok Nagar - Ishagarh (SH 20) road’ in the State of Madhya Pradesh and ‘Four laning of Mohania - Ara Section of NH 30 in the state of Bihar and ‘Development of 400 KV DCDS Sarni (Satpura) - Ashta transmission line project for evacuation of power from 2X250 MW extension units at Satpura Thermal Power Station’ in the state of Madhya Pradesh. The aforesaid Fifty-third (53rd) meeting of the Empowered Institution’s (EI) was held here yesterday under the Chairmanship of Dr Arvind Mayaram, Secretary, Department of Economic Affairs, Ministry of Finance.
Over 20 small IT firms get nod to invest in Punjab
More than 20 small and medium enterprises (SMEs) in the information technology sector have recently received land allotment letters from the Punjab government for setting up their units with an investment of Rs 500 crore. Earlier, these companies had signed memorandums of understanding (MoUs) with the state government during the Investor Summit in December last year.
The companies that received allotment letters include Emerson Electric Company (India) Pvt Ltd. (which will invest Rs 51.73 crore); Knack BPO Pvt. Ltd (Rs 56.25 crore); Netsmartz Infotech India Pvt Ltd., Chandigarh (Rs 51.54 crore); Bebo Technologies Pvt Ltd (Rs 32.7 crore); Maxval Technologies Pvt Ltd. Belapur Station Complex, Mumbai (Rs 27 crore); Allengers Medical Systems Ltd. (Rs 25 crore); SE-Biz Infotech Ltd. (Rs 21 crore); Dr ITM Limited (Rs 20.61 crore); Xeam Ventures Pvt Ltd (Rs 16.74 crore); Aequor Information Technology Pvt Ltd (Rs 15.75 crore); Offshore A-One Technology Pvt Ltd. (Rs 12.85 crore); Kiran Foreign Trade Pvt Ltd (Rs 11 crore); and Cyber Futuristics India Pvt Ltd, UP (Rs 9.2 crore).
To ensure speedy implementation of these projects, land has been allotted to each company on lease for three years, and if any company fails to invest within the stipulated time, the MoU will be cancelled by the state government.
Handing over land allotment letters to the SMEs recently, Deputy Chief Minister Sukhbir Singh Badal said, "It is a just a beginning and in the next three years Mohali would be the first planned IT destination of the country, which would further give a big push to economic activities in the state."
In addition to these SMEs, software giant Infosys has laid the foundation stone for its campus spread over 50 acres and committed an investment of Rs 425 crore in the first phase to create a built-up area of 650,000 square feet to seat 5,000 software professionals within 24 months.
Further, the setting up of two Software Technology Parks of India (STPI) centres as well as state-of-the-art incubation facilities at Mohali and Amritsar are expected to play a pivotal role in promoting the IT culture in the state. The recently announced industrial policy also offers incentives to IT SMEs.
According to entrepreneurs, the handing over of allotment letters to SMEs and the new STPI centres will go a long way in encouraging new IT/ITES entrepreneurs to set up shop and start operations in the region.
The incubation facilities in the STPI centres will provide entrepreneurs with facilities such as ready to use plug-and-play facilities - including a data centre and a network operations centre - and a readymade business environment. The two centres are expected to be ready in the next two years.
The companies that received allotment letters include Emerson Electric Company (India) Pvt Ltd. (which will invest Rs 51.73 crore); Knack BPO Pvt. Ltd (Rs 56.25 crore); Netsmartz Infotech India Pvt Ltd., Chandigarh (Rs 51.54 crore); Bebo Technologies Pvt Ltd (Rs 32.7 crore); Maxval Technologies Pvt Ltd. Belapur Station Complex, Mumbai (Rs 27 crore); Allengers Medical Systems Ltd. (Rs 25 crore); SE-Biz Infotech Ltd. (Rs 21 crore); Dr ITM Limited (Rs 20.61 crore); Xeam Ventures Pvt Ltd (Rs 16.74 crore); Aequor Information Technology Pvt Ltd (Rs 15.75 crore); Offshore A-One Technology Pvt Ltd. (Rs 12.85 crore); Kiran Foreign Trade Pvt Ltd (Rs 11 crore); and Cyber Futuristics India Pvt Ltd, UP (Rs 9.2 crore).
To ensure speedy implementation of these projects, land has been allotted to each company on lease for three years, and if any company fails to invest within the stipulated time, the MoU will be cancelled by the state government.
Handing over land allotment letters to the SMEs recently, Deputy Chief Minister Sukhbir Singh Badal said, "It is a just a beginning and in the next three years Mohali would be the first planned IT destination of the country, which would further give a big push to economic activities in the state."
In addition to these SMEs, software giant Infosys has laid the foundation stone for its campus spread over 50 acres and committed an investment of Rs 425 crore in the first phase to create a built-up area of 650,000 square feet to seat 5,000 software professionals within 24 months.
Further, the setting up of two Software Technology Parks of India (STPI) centres as well as state-of-the-art incubation facilities at Mohali and Amritsar are expected to play a pivotal role in promoting the IT culture in the state. The recently announced industrial policy also offers incentives to IT SMEs.
According to entrepreneurs, the handing over of allotment letters to SMEs and the new STPI centres will go a long way in encouraging new IT/ITES entrepreneurs to set up shop and start operations in the region.
The incubation facilities in the STPI centres will provide entrepreneurs with facilities such as ready to use plug-and-play facilities - including a data centre and a network operations centre - and a readymade business environment. The two centres are expected to be ready in the next two years.
Healthcare firms to spend $1.08 b on IT
Mumbai: Healthcare providers in India are expected to spend $1.08 billion on IT products and services in 2014, a four per cent increase over 2013.
This forecast by Gartner includes spending by healthcare providers (including hospitals and hospital systems, ambulatory service and physicians' practices) on internal IT (including personnel), hardware, software, external IT services and telecommunications.
The largest
IT services, which includes consulting, implementation, IT outsourcing and business process outsourcing, will be the largest overall spending category throughout the forecast period, the global research and analyst firm said.
It is expected to reach $276 million in 2014, up from $266 million in 2013 – with the consulting segment growing by 8 per cent, it added.
Internal services
Internal services will achieve the highest growth rate amongst the spending categories – forecast to be 18.5 per cent in 2014.
Internal services refer to salaries and benefits paid to the information services staff of an organisation.
Software will achieve a growth rate of six per cent to reach $101 million this year, up from $95 million in 2013, led by growth in vertical specific software (software applications that are unique to a vertical industry. These are standalone applications that are not modules or extensions of horizontal applications).
This forecast by Gartner includes spending by healthcare providers (including hospitals and hospital systems, ambulatory service and physicians' practices) on internal IT (including personnel), hardware, software, external IT services and telecommunications.
The largest
IT services, which includes consulting, implementation, IT outsourcing and business process outsourcing, will be the largest overall spending category throughout the forecast period, the global research and analyst firm said.
It is expected to reach $276 million in 2014, up from $266 million in 2013 – with the consulting segment growing by 8 per cent, it added.
Internal services
Internal services will achieve the highest growth rate amongst the spending categories – forecast to be 18.5 per cent in 2014.
Internal services refer to salaries and benefits paid to the information services staff of an organisation.
Software will achieve a growth rate of six per cent to reach $101 million this year, up from $95 million in 2013, led by growth in vertical specific software (software applications that are unique to a vertical industry. These are standalone applications that are not modules or extensions of horizontal applications).
Manufacturing rises to a year high
New Delhi: Manufacturing activity continued to remain buoyant in February on a jump in domestic and export orders suggesting that the worst may be over for India Inc.
The HSBC Purchasing Managers’ Index (PMI) for the manufacturing sector moved up to a one-year high of 52.5 in February, bringing some good news for the UPA Government at the fag end of its tenure. The index, which is based on monthly data compiled from replies to questionnaires to purchasing executives in around 500 manufacturing companies, clocked 52 in March 2013. In January 2014, the PMI was 51.4. A number under 50 suggests contraction.
Consumer goods segment was again the best performing sub-sector of the manufacturing economy, leading the rise in both output and new orders. Operating conditions also improved for intermediate goods producers, but remained unchanged in the capital goods category. New export business rose at a quicker clip, the survey said.
February data indicated that manufacturing employment increased, stretching the current period of job creation to five months. That said, payroll numbers rose at a fractional pace that was the weakest in that sequence.
The PMI number came as a surprise as the Government’s advance estimates for 2013-14 suggested a decline of 0.2 per cent in the manufacturing sector for the year as a whole. Even the data for April-December showed a decline of 0.6 per cent in the manufacturing sector. Government data for January will be out in 10 days while that for February will come in April.
Commenting on the latest trend, Leif Eskesen, Chief Economist for India & ASEAN at HSBC, said manufacturing activity picked up as new order flows have firmed, with the improvement in external demand and the reduction in macroeconomic uncertainty since last summer. This, in turn, has provided a lift to output growth.
“However, the recovery in activity is still likely to prove protracted given the lingering structural constraints. Moreover, underlying inflation pressures remain potent, which was evident from the jump in the input price component of the PMI survey. This will keep the RBI hawkish and may compel it to raise rates a bit further this year,” he cautioned.
The HSBC Purchasing Managers’ Index (PMI) for the manufacturing sector moved up to a one-year high of 52.5 in February, bringing some good news for the UPA Government at the fag end of its tenure. The index, which is based on monthly data compiled from replies to questionnaires to purchasing executives in around 500 manufacturing companies, clocked 52 in March 2013. In January 2014, the PMI was 51.4. A number under 50 suggests contraction.
Consumer goods segment was again the best performing sub-sector of the manufacturing economy, leading the rise in both output and new orders. Operating conditions also improved for intermediate goods producers, but remained unchanged in the capital goods category. New export business rose at a quicker clip, the survey said.
February data indicated that manufacturing employment increased, stretching the current period of job creation to five months. That said, payroll numbers rose at a fractional pace that was the weakest in that sequence.
The PMI number came as a surprise as the Government’s advance estimates for 2013-14 suggested a decline of 0.2 per cent in the manufacturing sector for the year as a whole. Even the data for April-December showed a decline of 0.6 per cent in the manufacturing sector. Government data for January will be out in 10 days while that for February will come in April.
Commenting on the latest trend, Leif Eskesen, Chief Economist for India & ASEAN at HSBC, said manufacturing activity picked up as new order flows have firmed, with the improvement in external demand and the reduction in macroeconomic uncertainty since last summer. This, in turn, has provided a lift to output growth.
“However, the recovery in activity is still likely to prove protracted given the lingering structural constraints. Moreover, underlying inflation pressures remain potent, which was evident from the jump in the input price component of the PMI survey. This will keep the RBI hawkish and may compel it to raise rates a bit further this year,” he cautioned.
South Africa woos Indian investments in SEZs
Mumbai: South Africa plans to offer special incentives to tap investment from India in the special economic zones being promoted across each of its nine provinces. The country currently has four Industrial Development Zones, primarily focusing on exports.
The South African government had already announced various incentives to attract investment, but it is studying various models adopted by different countries, including China and India, to woo more investment.
Speaking to the media here after a round table with Indian investors, Elizabeth Thabethe, the country’s Deputy Minister for Trade and Industry said it will choose the best practices adopted by each country to arrive at a comprehensive plan to promote investment in the special economic zone, which would focus on boosting domestic demand.
Trade relations between the two countries got a fillip after Coal India and South Africa’s Department of Trade and Industry recently decided to team up to explore mutual prospects in the coal sector. “As a precursor to attract investment, our Government is planning to invest $4 trillion to develop infrastructure across the country,” she said.
Trade target
She said South Africa and India have already surpassed the trade target of $15 billion set for 2015, and a new target would be fixed in the coming days.
Indian companies have invested about $7 billion in South Africa, while South African countries have investments of $610 million in India.
The South African government had already announced various incentives to attract investment, but it is studying various models adopted by different countries, including China and India, to woo more investment.
Speaking to the media here after a round table with Indian investors, Elizabeth Thabethe, the country’s Deputy Minister for Trade and Industry said it will choose the best practices adopted by each country to arrive at a comprehensive plan to promote investment in the special economic zone, which would focus on boosting domestic demand.
Trade relations between the two countries got a fillip after Coal India and South Africa’s Department of Trade and Industry recently decided to team up to explore mutual prospects in the coal sector. “As a precursor to attract investment, our Government is planning to invest $4 trillion to develop infrastructure across the country,” she said.
Trade target
She said South Africa and India have already surpassed the trade target of $15 billion set for 2015, and a new target would be fixed in the coming days.
Indian companies have invested about $7 billion in South Africa, while South African countries have investments of $610 million in India.
Second Meeting of the India-UAE High Level Joint Task Force on Investments Held in Mumbai
The second meeting of India-UAE High Level Joint Task Force on Investments (HLTFI) was held today in Mumbai. The HLTFI, co-chaired by Shri Anand Sharma, Union Minister of Commerce & Industry and Sheikh Hamed bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince Court, was established in April 2012 as a platform to address mutual issues associated with existing investments between the two countries and to promote and facilitate cross-border investments. More than 30 government and private sector representatives from India and the UAE were present.
The second meeting of the HLTFI made progress on a number of fronts:
Discussions were held on supporting the establishment of a strategic petroleum reserve in India in a manner serving the common strategic interests of both countries and based on the principles of long term strategic partnership and cooperation. The decision was taken to establish another joint working group to make progress on this effort;
Wide-ranging discussions took place on priority sectors of engagement for channelling investments in the two countries;
Discussions took place on expediting the resolution of current pending issues associated with existing UAE investments in India (Etisalat, Emaar & DP World), and a plan of action was agreed for the Legacy Issues sub-working group to address and resolve these issues;
Acknowledged TAQA, the Abu Dhabi-based international energy and water company, as the largest private operator of hydroelectric plants in India, following its acquisition, signed on Saturday 1st March, 2014 in New Delhi, of two hydroelectric plants in India. The equity invested by the TAQA-led consortium in the acquisition of the two hydroelectric plants will amount to approximately INR 3,820 crores (USD 616 million), of which 51% is from TAQA. The consortium will also acquire the assets' non-recourse project debt. The agreement follows the signing of the UAE-India Bilateral Investment Promotion and Protection Agreement in December 2013 and the UAE's commitment at the last HLTFI meeting to invest USD 2 billion in India's infrastructure sector.
The UAE has invited the Indian companies in the renewable energy area to the UAE to meet with Masdar to discuss potential investments.
The UAE and India are significant trading partners and bilateral trade between the two countries is expected to continue its important growth in years to come. Alongside trade, the HLTFI would seek to achieve a similar growth path for investment with a clear roadmap between the two countries.
Commenting on the 2nd meeting of the HLTFI, Shri Sharma underlined India’s status as a major destination for foreign investments and the opportunities that exist for the UAE, especially in infrastructure areas such as roads and highways, power and utilities, civil aviation, ports, renewable energy, urban infrastructure, etc. and participation through the Infrastructure Debt Funds. He also highlighted India’s desire to participate in the hydrocarbon sector in the UAE, especially in the upstream petroleum sector. He also mentioned that he sees greater opportunities for UAE investors as strategic partners in India’s growth story.
Sheikh Hamed bin Zayed Al Nahyan said that “today we have advanced the work of the Joint Task Force, and laid the foundation for further mutually beneficial investments and areas of common interest. We look forward to the ratification of the Bilateral Investment Promotion and Protection Agreement, and the resolution of the outstanding issues identified at our first meeting. Together, our combined efforts will help to further strengthen bilateral trade relations and pave the way for continued strategic dialogue.”
The first meeting of the HLTFI, held in Abu Dhabi in February 2013, resulted in a wide-ranging discussion on matters of mutual interest including the identification of priority sectors of engagement for possible investments in the two countries. Since then, work conducted by the HLTFI to strengthen and develop bilateral relations in the field of investments culminated in the signing, in December, 2013, of a Bilateral Investment Promotion and Protection Agreement (BIPPA), serving as a platform for promotion and reciprocal legal protection of investments in both countries.
As a result of decisions taken during the inaugural meeting of the HLTFI, several joint working groups have been created to address issues of mutual interest in the following sectors: Infrastructure, Investment & Trade, Energy, Manufacturing & Technology, Aviation, Information and Communication Technology (ICT) and Legacy Issues. At today's meeting, an action plan was agreed to expedite progress across all these joint working groups.
The next meeting of the UAE – India High Level Joint Task Force on Investments will be held on a mutually agreed date and location.
The second meeting of the HLTFI made progress on a number of fronts:
Discussions were held on supporting the establishment of a strategic petroleum reserve in India in a manner serving the common strategic interests of both countries and based on the principles of long term strategic partnership and cooperation. The decision was taken to establish another joint working group to make progress on this effort;
Wide-ranging discussions took place on priority sectors of engagement for channelling investments in the two countries;
Discussions took place on expediting the resolution of current pending issues associated with existing UAE investments in India (Etisalat, Emaar & DP World), and a plan of action was agreed for the Legacy Issues sub-working group to address and resolve these issues;
Acknowledged TAQA, the Abu Dhabi-based international energy and water company, as the largest private operator of hydroelectric plants in India, following its acquisition, signed on Saturday 1st March, 2014 in New Delhi, of two hydroelectric plants in India. The equity invested by the TAQA-led consortium in the acquisition of the two hydroelectric plants will amount to approximately INR 3,820 crores (USD 616 million), of which 51% is from TAQA. The consortium will also acquire the assets' non-recourse project debt. The agreement follows the signing of the UAE-India Bilateral Investment Promotion and Protection Agreement in December 2013 and the UAE's commitment at the last HLTFI meeting to invest USD 2 billion in India's infrastructure sector.
The UAE has invited the Indian companies in the renewable energy area to the UAE to meet with Masdar to discuss potential investments.
The UAE and India are significant trading partners and bilateral trade between the two countries is expected to continue its important growth in years to come. Alongside trade, the HLTFI would seek to achieve a similar growth path for investment with a clear roadmap between the two countries.
Commenting on the 2nd meeting of the HLTFI, Shri Sharma underlined India’s status as a major destination for foreign investments and the opportunities that exist for the UAE, especially in infrastructure areas such as roads and highways, power and utilities, civil aviation, ports, renewable energy, urban infrastructure, etc. and participation through the Infrastructure Debt Funds. He also highlighted India’s desire to participate in the hydrocarbon sector in the UAE, especially in the upstream petroleum sector. He also mentioned that he sees greater opportunities for UAE investors as strategic partners in India’s growth story.
Sheikh Hamed bin Zayed Al Nahyan said that “today we have advanced the work of the Joint Task Force, and laid the foundation for further mutually beneficial investments and areas of common interest. We look forward to the ratification of the Bilateral Investment Promotion and Protection Agreement, and the resolution of the outstanding issues identified at our first meeting. Together, our combined efforts will help to further strengthen bilateral trade relations and pave the way for continued strategic dialogue.”
The first meeting of the HLTFI, held in Abu Dhabi in February 2013, resulted in a wide-ranging discussion on matters of mutual interest including the identification of priority sectors of engagement for possible investments in the two countries. Since then, work conducted by the HLTFI to strengthen and develop bilateral relations in the field of investments culminated in the signing, in December, 2013, of a Bilateral Investment Promotion and Protection Agreement (BIPPA), serving as a platform for promotion and reciprocal legal protection of investments in both countries.
As a result of decisions taken during the inaugural meeting of the HLTFI, several joint working groups have been created to address issues of mutual interest in the following sectors: Infrastructure, Investment & Trade, Energy, Manufacturing & Technology, Aviation, Information and Communication Technology (ICT) and Legacy Issues. At today's meeting, an action plan was agreed to expedite progress across all these joint working groups.
The next meeting of the UAE – India High Level Joint Task Force on Investments will be held on a mutually agreed date and location.
Monday, March 3, 2014
Lupin plans to expand drug facility at Vadodara
Mumbai-based pharma player Lupin Ltd, is all set to expand its Vadodara facility to make bulk drugs for cardiac, anti-infectives, anti-tuberculosis, neurology and other segments. The estimated project cost is around Rs 270 crore.
The Dabhasa plant of Lupin near Vadodara is one of the leading bulk drug manufacturing sites for the company. "The Dabhasa plant is one of our major active pharmaceutical ingredient manufacturing sites which also exports. It is a US Food and Drug Administration (USFDA) approved facility," informed a senior company official. Meanwhile, the company is planning to expand the unit to add more bulk drugs belonging to the categories of anti-cholesterol, cardiac, neuropathic, respiratory, anti-infectives among others. The company is a leading global manufacturer of anti-tuberculosis bulk drugs like Ethambutol Hydrochloride and Rifampicin.
A company spokesperson confirmed the development. "It is true that we are expanding our facility in Dabhasa, near Vadodara though we haven’t procured any additional land for the stated expansion. Lupin has been investing prudently in expanding our manufacturing operations by setting up new and expanding existing facilities to meet future demand. The company’s capital expenditure stood at Rs 487.1 crore for FY 2013."
According to a senior official in the state government, who confirmed the development, the project cost could be to the tune of Rs 270 crore, and the company proposes to make around eighty different varieties of bulk drugs at the Dabhasa plant. The additional capacity would be to the tune of 1,480 tonnes per annum.
According to data from the IMS Health, therapies like cardiac, anti-diabetics, respiratory, dermatological have clocked a healthy growth during 2013 calendar year.
While the neuro-CNS segment clocked a 9.6 per cent value growth in the Indian market, others like cardiac grew by 11.1 per cent, anti-diabetics by 19.1 per cent, respiratory by 11 per cent, dermatological by 17.7 per cent and gastro-intestinals by 10.2 per cent.
The Dabhasa plant of Lupin near Vadodara is one of the leading bulk drug manufacturing sites for the company. "The Dabhasa plant is one of our major active pharmaceutical ingredient manufacturing sites which also exports. It is a US Food and Drug Administration (USFDA) approved facility," informed a senior company official. Meanwhile, the company is planning to expand the unit to add more bulk drugs belonging to the categories of anti-cholesterol, cardiac, neuropathic, respiratory, anti-infectives among others. The company is a leading global manufacturer of anti-tuberculosis bulk drugs like Ethambutol Hydrochloride and Rifampicin.
A company spokesperson confirmed the development. "It is true that we are expanding our facility in Dabhasa, near Vadodara though we haven’t procured any additional land for the stated expansion. Lupin has been investing prudently in expanding our manufacturing operations by setting up new and expanding existing facilities to meet future demand. The company’s capital expenditure stood at Rs 487.1 crore for FY 2013."
According to a senior official in the state government, who confirmed the development, the project cost could be to the tune of Rs 270 crore, and the company proposes to make around eighty different varieties of bulk drugs at the Dabhasa plant. The additional capacity would be to the tune of 1,480 tonnes per annum.
According to data from the IMS Health, therapies like cardiac, anti-diabetics, respiratory, dermatological have clocked a healthy growth during 2013 calendar year.
While the neuro-CNS segment clocked a 9.6 per cent value growth in the Indian market, others like cardiac grew by 11.1 per cent, anti-diabetics by 19.1 per cent, respiratory by 11 per cent, dermatological by 17.7 per cent and gastro-intestinals by 10.2 per cent.
Tata Teleservices plans to set up 4,000 wi-fi hotspots in 9 cities
New Delhi: Tata Teleservices plans to set up nearly 4,000 wi-fi hot spots in nine cities across the country in the next two years as it expects internet usage to rise exponentially on the back of year-on-year doubling of smartphone devices in India, a senior executive said. India's smartphone market swelled 171% last year to 44 million devices from 16.2 million in 2012, said research firm IDC India, propelled by the launch of low-end, cost-competitive devices by international and local vendors that have narrowed price gaps between feature phones and smartphones.
Avinash Gabriel, chief operations officer of the wi-fi business at Tata Teleservices, said the company had witnessed a huge increase in data consumption on mobile phones since it began creating wi-fi hotspots for airports, restaurants, cafes and other businesses nine months ago.
"From about 1 lakh log-ins in April last year, we now have 4.4 lakh logins, where the average time spent in each session is 40 minutes. So roughly, we've clocked 35 million minutes of usage as of January, up from 18 million minutes in April," he said.
GSM and CDMA services provider Tata Teleservices has set up 540 wi-fi hot spots countrywide since April. Some of its major contracts include the T3 international airport terminal in New Delhi, the Wankhede cricket stadium in Mumbai, besides five-star hotels and cafes in several cities.
Gabriel said wi-fi solutions were becoming more relevant for mobile phone companies as they entailed lower cost of deployment and rollouts compared with 3G and 4G networks that offer higher speeds while browsing the internet. While airwaves and mobile permits need to be bought for launching 3G and 4G services, wi-fi airwaves are free. Tata Tele's wi-fi hotspots ride on the company's existing fibre networks along with that of Tata Communications Ltd.
Bharti Airtel, Vodafone India and Idea Cellular purchased 3G airwaves for Rs 67,710 crore in a government auction in 2010 and had priced them at a premium to consumers to recover costs.
Avinash Gabriel, chief operations officer of the wi-fi business at Tata Teleservices, said the company had witnessed a huge increase in data consumption on mobile phones since it began creating wi-fi hotspots for airports, restaurants, cafes and other businesses nine months ago.
"From about 1 lakh log-ins in April last year, we now have 4.4 lakh logins, where the average time spent in each session is 40 minutes. So roughly, we've clocked 35 million minutes of usage as of January, up from 18 million minutes in April," he said.
GSM and CDMA services provider Tata Teleservices has set up 540 wi-fi hot spots countrywide since April. Some of its major contracts include the T3 international airport terminal in New Delhi, the Wankhede cricket stadium in Mumbai, besides five-star hotels and cafes in several cities.
Gabriel said wi-fi solutions were becoming more relevant for mobile phone companies as they entailed lower cost of deployment and rollouts compared with 3G and 4G networks that offer higher speeds while browsing the internet. While airwaves and mobile permits need to be bought for launching 3G and 4G services, wi-fi airwaves are free. Tata Tele's wi-fi hotspots ride on the company's existing fibre networks along with that of Tata Communications Ltd.
Bharti Airtel, Vodafone India and Idea Cellular purchased 3G airwaves for Rs 67,710 crore in a government auction in 2010 and had priced them at a premium to consumers to recover costs.
Manipal, Cincinnati varsities ink pact
Mangalore: A statement by Manipal University said here on Friday that the MoU would facilitate collaboration between the two universities in the fields of medicine, engineering, business studies, architecture and design.
Both universities have agreed to cooperate in developing joint research and training programmes for faculty and students. There will also be regular faculty and student exchanges. The two have also agreed to cooperate in the design of new academic programmes and conduct joint international research conferences, seminars and symposia.
H Vinod Bhat, Pro Vice-Chancellor of Manipal University, and Raj Mehta, Vice-Provost for International Affairs, University of Cincinnati, signed the agreement in Manipal recently.
Quoting Bhat, the statement said: "This agreement is part of an ongoing effort by Manipal University to be an institution of high global repute, and we are proud to be associated with a university such as this one."
The discussions with the US university included the extension of the agreement to Manipal's other campuses in Jaipur, Dubai and Kuala Lumpur and also to the possibility of introducing executive education through Manipal Global Education Services based in Bangalore, the statement added.
Both universities have agreed to cooperate in developing joint research and training programmes for faculty and students. There will also be regular faculty and student exchanges. The two have also agreed to cooperate in the design of new academic programmes and conduct joint international research conferences, seminars and symposia.
H Vinod Bhat, Pro Vice-Chancellor of Manipal University, and Raj Mehta, Vice-Provost for International Affairs, University of Cincinnati, signed the agreement in Manipal recently.
Quoting Bhat, the statement said: "This agreement is part of an ongoing effort by Manipal University to be an institution of high global repute, and we are proud to be associated with a university such as this one."
The discussions with the US university included the extension of the agreement to Manipal's other campuses in Jaipur, Dubai and Kuala Lumpur and also to the possibility of introducing executive education through Manipal Global Education Services based in Bangalore, the statement added.
New policy in place for geo-scientific data collection for oil & gas
New Delhi: "Under the policy, permission for conducting geo-scientific survey will be granted by way of an non-exclusive multi-client survey agreement. This policy replaces the earlier model of profit sharing after cost recovery with a one-time project fee," the Ministry said in a statement.
The Directorate-General of Hydrocarbons (DGH) will administer this policy. The regulator will call for bids from companies interested in taking up the project. The service provider shall complete the survey within two years.
The agreement with the service provider will be valid for 12 years, wherein the service provider will be free to licence the data to prospective exploration and production companies.
The project fees will be $10,000 for two years. The survey period can be extended by a maximum of 12 months by paying 60 per cent of the project fees.
A data delivery bank guarantee of $100,000 will have to be provided by the service provider to the DGH.
According to the Ministry, the new policy has been launched in view of the requirement for generation of geo-scientific data to support exploration and production activities and to make the speculative survey model more attractive and easier to implement.
The Directorate-General of Hydrocarbons (DGH) will administer this policy. The regulator will call for bids from companies interested in taking up the project. The service provider shall complete the survey within two years.
The agreement with the service provider will be valid for 12 years, wherein the service provider will be free to licence the data to prospective exploration and production companies.
The project fees will be $10,000 for two years. The survey period can be extended by a maximum of 12 months by paying 60 per cent of the project fees.
A data delivery bank guarantee of $100,000 will have to be provided by the service provider to the DGH.
According to the Ministry, the new policy has been launched in view of the requirement for generation of geo-scientific data to support exploration and production activities and to make the speculative survey model more attractive and easier to implement.
Anand Sharma and UP CM Launch DMIC Project in uttar Pradesh
The Union Minister of Commerce and Industry, Shri Anand Sharma and Chief Minister of Uttar Pradesh, Shri Akhilesh Yadav launched Delhi Mumbai Corridor in Uttar Pradesh, in Lucknow today. "Uttar Pradesh will be the main beneficiary of the Industrial Corridor strategy being pursued by Government of India as it is the meeting point of the Eastern and the Western Corridors. The entire agriculture produce of UP can be linked to cold chains and put on Western Corridor at Dadri. This will enable all agricultural products to reach the ports in record time. The overall impact of the Western and Eastern Corridors and the new Industrial Cities being developed in the Delhi-Mumbai Industrial Corridor project have the potential to create over 30 lakh jobs in UP and enhance the State's Industrial Output by Rs. 24 lakh crores” Said Shri Sharma on the occasion.
The growth of manufacturing sector is an essential condition for sustaining GDP growth rate to 8-9% on a long term basis. Government of India proposes to enhance the share of manufacturing sector in GDP growth from 16% to 25% within a decade and creating 100 million jobs. In this regard, Government of India has announced the pioneering National Manufacturing Policy 2013.
The conceptualization of the DMIC project as an iconic symbol of Indo-Japan strategic partnership was made. It has rapidly moved forward and seven new industrial cities have advanced towards implementation.
The Government has also announced three more Industrial Corridor Projects namely:
Amritsar-Kolkatta Industrial Corridor Project with Eastern Dedicated Freight Corridor as the back bone;
Chennai-Bangalore Industrial Corridor Project;
Bangalore-Mumbai Economic Corridor Project
The Industrial Corridors will lead to the development of futuristic industrial cities with transport connectivity effective and efficient technologies, reliable energy supply and efficient logistics. This will enable India to compete with the best in the manufacturing and investment estimation of the world and have the potential of radically transforming India into global manufacturing hub within a decade.
DMICDC IN UTTAR PRADESH:
Dadri-Noida-Ghaziabad Industrial City:
The vision of this 217 km. Investment Region is to develop an Infrastructure led integrated industrial city which is smart, sustainable, well connected and having state of art support industrial and social infrastructure. The master plan has adopted the following principles:
Developing Industrial City of Future endowed with all the requisite physical & social infrastructure like Water, Power, housing, health, education etc.
Transit Oriented Development: The region to be supported by efficient mass transport system. High intensity mixed land use is proposed to be developed along major transit nodes.
Improved connectivity with Development of intra and inter regional connectivity has been provided as part of the overall planning process. Considering that development of investment region will augment creation of employment opportunity in the region, there would be significant requirements for improving the connectivity.
Focus on Recycling of water and waste and integration of smart technologies.
Industries in sectors viz. Food, Auto, Electrical & Electronics, IT/ITeS, Research & Development, Aerospace, Biotech and Hi tech are proposed in the investment region.
Integrated Industrial Township at Greater Noida:
The Integrated Industrial Township is planned on the area of 302 ha with the key objective to create a "knowledge based ecosystem" integrated with industries leading to innovation and economic development. The project will generate direct industrial employment for about 58,000 workers. It will be planned as the first comprehensive built environment helping the launch of DMIC Investment Region. The project will strengthen the status of Greater Noida and Noida as a manufacturing destination. It will also encourage creation and growth of new businesses by fostering collaboration and innovation, also enhancing the development, transfer, and commercialization of technology.
Integrated Transport Hub at Boraki:
The transport hub along the Delhi-Howrah trunk rail corridor, with state-of-the art Multi-modal Transit facility at Boraki Village is envisioned to be the nucleus of development for Dadri-Noida-Ghaziabad Investment Region, Greater Noida and its upcoming extensions. The project will integrate four transit nodes and user-friendly regional railway terminal, a metro passenger terminal, an ISBT, and the terminal station of the proposed rapid rail connectivity between DNGIR and Delhi International Airport. It shall be supplemented by a Business Centre (equipped with office and business hotel accommodation).
Seemless connectivity between Indira Gandhi International Airport and Dadri-Noida Ghaziabad Investment Region:
With the object of providing fast and adequate rail‐based commuter connectivity to New Delhi, various alignment options are currently being explored to provide fast connectivity from the proposed Boraki Station (catering the population of Noida, Greater Noida and proposed Dadri-Noida-Ghaziabad Investment Region) with the Indira Gandhi International airport. The need of the project has emanated from the long travel time consumed by existing Road based transport systems.
Multi Modal Logistics Hub Project at Dadri:
By virtue of industrial development there would be an immediate need of developing the multi modal logistics hub within the Investment Region. The proposed MMLH is expected to handle 1.05 million TEUs.
The growth of manufacturing sector is an essential condition for sustaining GDP growth rate to 8-9% on a long term basis. Government of India proposes to enhance the share of manufacturing sector in GDP growth from 16% to 25% within a decade and creating 100 million jobs. In this regard, Government of India has announced the pioneering National Manufacturing Policy 2013.
The conceptualization of the DMIC project as an iconic symbol of Indo-Japan strategic partnership was made. It has rapidly moved forward and seven new industrial cities have advanced towards implementation.
The Government has also announced three more Industrial Corridor Projects namely:
Amritsar-Kolkatta Industrial Corridor Project with Eastern Dedicated Freight Corridor as the back bone;
Chennai-Bangalore Industrial Corridor Project;
Bangalore-Mumbai Economic Corridor Project
The Industrial Corridors will lead to the development of futuristic industrial cities with transport connectivity effective and efficient technologies, reliable energy supply and efficient logistics. This will enable India to compete with the best in the manufacturing and investment estimation of the world and have the potential of radically transforming India into global manufacturing hub within a decade.
DMICDC IN UTTAR PRADESH:
Dadri-Noida-Ghaziabad Industrial City:
The vision of this 217 km. Investment Region is to develop an Infrastructure led integrated industrial city which is smart, sustainable, well connected and having state of art support industrial and social infrastructure. The master plan has adopted the following principles:
Developing Industrial City of Future endowed with all the requisite physical & social infrastructure like Water, Power, housing, health, education etc.
Transit Oriented Development: The region to be supported by efficient mass transport system. High intensity mixed land use is proposed to be developed along major transit nodes.
Improved connectivity with Development of intra and inter regional connectivity has been provided as part of the overall planning process. Considering that development of investment region will augment creation of employment opportunity in the region, there would be significant requirements for improving the connectivity.
Focus on Recycling of water and waste and integration of smart technologies.
Industries in sectors viz. Food, Auto, Electrical & Electronics, IT/ITeS, Research & Development, Aerospace, Biotech and Hi tech are proposed in the investment region.
Integrated Industrial Township at Greater Noida:
The Integrated Industrial Township is planned on the area of 302 ha with the key objective to create a "knowledge based ecosystem" integrated with industries leading to innovation and economic development. The project will generate direct industrial employment for about 58,000 workers. It will be planned as the first comprehensive built environment helping the launch of DMIC Investment Region. The project will strengthen the status of Greater Noida and Noida as a manufacturing destination. It will also encourage creation and growth of new businesses by fostering collaboration and innovation, also enhancing the development, transfer, and commercialization of technology.
Integrated Transport Hub at Boraki:
The transport hub along the Delhi-Howrah trunk rail corridor, with state-of-the art Multi-modal Transit facility at Boraki Village is envisioned to be the nucleus of development for Dadri-Noida-Ghaziabad Investment Region, Greater Noida and its upcoming extensions. The project will integrate four transit nodes and user-friendly regional railway terminal, a metro passenger terminal, an ISBT, and the terminal station of the proposed rapid rail connectivity between DNGIR and Delhi International Airport. It shall be supplemented by a Business Centre (equipped with office and business hotel accommodation).
Seemless connectivity between Indira Gandhi International Airport and Dadri-Noida Ghaziabad Investment Region:
With the object of providing fast and adequate rail‐based commuter connectivity to New Delhi, various alignment options are currently being explored to provide fast connectivity from the proposed Boraki Station (catering the population of Noida, Greater Noida and proposed Dadri-Noida-Ghaziabad Investment Region) with the Indira Gandhi International airport. The need of the project has emanated from the long travel time consumed by existing Road based transport systems.
Multi Modal Logistics Hub Project at Dadri:
By virtue of industrial development there would be an immediate need of developing the multi modal logistics hub within the Investment Region. The proposed MMLH is expected to handle 1.05 million TEUs.
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