Mumbai: The world's largest computer chip manufacturer now diverts a high proportion of its think tank towards phones and portable devices because the internet has transformed the use of computing gizmos, said Intel Inc's chief financial officer Stacy Smith.
A chunk of the Intel's chip designing for phones and next generation computing is driven by its 3,200 employees in India, added Smith.
"Markets we called adjacencies are now going to the core of our business, like cars, security systems, tablets phones etc. We see our business now as having two different thrusts," Intel's CFO said in an exclusive interview with ET.
For several decades Intel has made microprocessors for desktop and laptop computers for all major brands around the globe, including Lenovo, Dell and even Apple. In April, Intel's first cellphone hit the market in partnership with India's mobile manufacturing firm - Lava.
The Xolo as the cellphone is named currently sells at 22,000 a piece. India is set to be among the top five markets for the company by 2016.
Smith said, although India is a key market for Intel, the focus will remain on the computers - desktops and servers - for the country. The launch of Intel's first phone here is a mere coincidence coupled with very limited customisation on the part of Lava. "In India, that's what happened, the customer took in essence what we were offering," he said.
Subsequently Lenovo has launched an Intel phone in China and Orange in Europe. "We have been targeting our development on the high performance low power devices, we're there today. The device that is shipping to India now isn't even based on our most leading edge technology and it is outperforming almost everything that is out there in the market," Smith said.
"Smartphone space for us will have two offerings: One for high-end users and one for lower-end, high volume phones. Right now the push is on winning designs. Let's build credibility with customers, understand what people want. We will make money at some point, but that's not now."
Intel's revenue from just the mobile segment was $4 billion in the year gone by and is expected to hit $5.5 billion this year, Smith said.
While all the research on cellphones and mobile devices is making its way into desktop and laptop technology, Smith said the chip sets are unlikely to converge. "I see them as being separate product lines. You have the Atom that will go into low-power kind of devices, the core i5, 7 in these (Ultrabook) kind of devices, Xeon that will go to servers," Smith said.
"We are already seeing the focus on phones is benefitting the computer segment. Fine grain power technologies are an example. Historically that has not been important for laptops, but some of the tricks we have learnt on the phone side have worked their way to the core technology."
Intel's first fourth generation, or 4G, LTE technology phone is currently being sampled for a launch early next year, in the US. Intel has also forged some foundry contracts with Achronix, Tabula and Netronome, apart from its silicon chip manufacturing. However, Smith said those remain small. "We are doing very small agreements for small companies. We are learning what it takes to build out process technologies, learnings that may build up some big options later."
Meanwhile the focus remains on selling microprocessors. In India, Smith is confident the boom will come irrespective of business environment or even internet broadband penetration that is likely to be setback by policy uncertainties, caused as a result of the 2G scam.
"It is a relatively simple phenomena you saw a dramatic increase in people who had PCs in China. We expect the same thing in India, where it will be less than two months of income for someone to own a PC; and we see market after market where this happens. We see the ownership of the technology goes up as it is a highly desirable technology."
Success in my Habit
Thursday, July 5, 2012
NHB partners Genworth, IFC, ADB to form India's first mortgage guarantee company
Kolkata: National Housing Bank has on Monday announced the formation of India's first mortgage guarantee joint venture with three overseas partners -- International Finance Corporation, Asian Development Bank and US-based financial security firm Genworth Financial International Holdings.
NHB will have the majority stake with 38% holding while Genworth will hold 36%. IFC and ADB will hold 13% each the company -- the India Mortgage Guarantee Corporation Pvt Ltd. It proposes to start operation with a Rs 120 crore paid up capital once it gets licence from Reserve Bank of India.
"NHB has been part of this project through the years and we are glad that the company has been set up now, richer with all the learnings from the recent global experience," NHB chairman and managing director RV Verma was quoted saying in a press statement released Monday.
The JV will provide guarantees to credit portfolio of banks and housing finance companies. "Mortgage guarantee products will bring in greater depth and stability in the housing finance market," Verma said.
State Bank of India, Housing Finance Development Corporation or ICICI Bank are expected to benefit the most from this development as they can unlock significant chunk of their capital by taking mortgage guarantee cover and expand business further.
NHB will have the majority stake with 38% holding while Genworth will hold 36%. IFC and ADB will hold 13% each the company -- the India Mortgage Guarantee Corporation Pvt Ltd. It proposes to start operation with a Rs 120 crore paid up capital once it gets licence from Reserve Bank of India.
"NHB has been part of this project through the years and we are glad that the company has been set up now, richer with all the learnings from the recent global experience," NHB chairman and managing director RV Verma was quoted saying in a press statement released Monday.
The JV will provide guarantees to credit portfolio of banks and housing finance companies. "Mortgage guarantee products will bring in greater depth and stability in the housing finance market," Verma said.
State Bank of India, Housing Finance Development Corporation or ICICI Bank are expected to benefit the most from this development as they can unlock significant chunk of their capital by taking mortgage guarantee cover and expand business further.
Reliance Globalcom opens cable landing station in Iraq
Mumbai: Reliance Globalcom, the undersea cable subsidiary of RCom, launched the Al-Faw Cable Landing Station in Iraq.
This cable station has been built in alliance with Iraqi Telecommunications and Post Company.
This is expected to increase the Iraq’s connectivity with the rest of the world and also provide better quality of broadband services.
The cable station has been built with an initial design capacity of 680 Gbps with two diverse routes. The company has initially lit 50 Gbps on each route to cater to the existing market, said a release from the company.
These two routes have been connected with Falcon network to provide good telecom services. The Al-Faw station will connect Iraq to West Asia, Asia and North America through the submarine cable.
This cable station has been built in alliance with Iraqi Telecommunications and Post Company.
This is expected to increase the Iraq’s connectivity with the rest of the world and also provide better quality of broadband services.
The cable station has been built with an initial design capacity of 680 Gbps with two diverse routes. The company has initially lit 50 Gbps on each route to cater to the existing market, said a release from the company.
These two routes have been connected with Falcon network to provide good telecom services. The Al-Faw station will connect Iraq to West Asia, Asia and North America through the submarine cable.
June manufacturing PMI up at 4-month high
New Delhi: Though industrial data for May remained bleak, HSBC’s Purchasing Managers Index (PMI) for manufacturing pointed to a slow, but consistent, improvement in factory output. The index rose to a four-month high of 55 points in June, compared with 54.8 points in May. This was primarily owing to expansion in production, along with an increased demand and new export orders.
It would, however, be too early to consider this a recovery in manufacturing, as PMI data usually contrast with Index of Industrial Production (IIP) data. This is because PMI uses a sample different from that used by IIP. Also, it tracks the sentiment based on surveys, rather than actual production numbers. For instance, PMI for manufacturing rose from 54.7 points in March to 54.9 points in April. However, the IIP during that month grew just 0.1 per cent.
Manufacturing PMI is based on data compiled from monthly replies to questionnaires sent to purchasing executives at about 500 manufacturing companies.
In the PMI, a reading of more than 50 points denotes expansion, while one below that number denotes contraction.
In March, the manufacturing PMI rose to 54.7 points, while the IIP contracted 3.5 per cent. The index of eight core industries grew just 3.8 per cent in May.
In June, firms recorded high demand, resulting in more new orders and expansion in output. There was a moderate rise in new export orders as well. This was in contrast to previous months, when output failed to keep up with demand, owing to power cuts.
Though power cuts remained a concern in June, a rise in workforce helped record higher output levels. “Employment expanding at a faster pace helped slow the pace of growth in backlogs,” said Leif Eskesen, chief economist (India & Asean), HSBC.
Input prices continued to rise for 39 successive months. The inflation for input products in June was sharp, and the highest since August 2011. This resulted in higher output prices, as manufacturers passed on high input costs to clients.
“Input and output prices rose at a faster pace than in May, keeping inflation high by historical standards. In light of these numbers, RBI (Reserve Bank of India) does not have a strong case for further rate cuts, as these would add to lingering inflation risks,” Eskesen said.
In the June 18 policy review, the central bank had kept key rates unchanged. Currently, RBI’s repo rate stands at eight per cent, while the cash reserve ratio is 4.75 per cent. Though wholesale price index-based inflation stood at 7.5per cent in May, consumer price index-based inflation was high at 10.36 per cent.
It would, however, be too early to consider this a recovery in manufacturing, as PMI data usually contrast with Index of Industrial Production (IIP) data. This is because PMI uses a sample different from that used by IIP. Also, it tracks the sentiment based on surveys, rather than actual production numbers. For instance, PMI for manufacturing rose from 54.7 points in March to 54.9 points in April. However, the IIP during that month grew just 0.1 per cent.
Manufacturing PMI is based on data compiled from monthly replies to questionnaires sent to purchasing executives at about 500 manufacturing companies.
In the PMI, a reading of more than 50 points denotes expansion, while one below that number denotes contraction.
In March, the manufacturing PMI rose to 54.7 points, while the IIP contracted 3.5 per cent. The index of eight core industries grew just 3.8 per cent in May.
In June, firms recorded high demand, resulting in more new orders and expansion in output. There was a moderate rise in new export orders as well. This was in contrast to previous months, when output failed to keep up with demand, owing to power cuts.
Though power cuts remained a concern in June, a rise in workforce helped record higher output levels. “Employment expanding at a faster pace helped slow the pace of growth in backlogs,” said Leif Eskesen, chief economist (India & Asean), HSBC.
Input prices continued to rise for 39 successive months. The inflation for input products in June was sharp, and the highest since August 2011. This resulted in higher output prices, as manufacturers passed on high input costs to clients.
“Input and output prices rose at a faster pace than in May, keeping inflation high by historical standards. In light of these numbers, RBI (Reserve Bank of India) does not have a strong case for further rate cuts, as these would add to lingering inflation risks,” Eskesen said.
In the June 18 policy review, the central bank had kept key rates unchanged. Currently, RBI’s repo rate stands at eight per cent, while the cash reserve ratio is 4.75 per cent. Though wholesale price index-based inflation stood at 7.5per cent in May, consumer price index-based inflation was high at 10.36 per cent.
Bharti Airtel launches cloud computing service
Telecom major Bharti Airtel today launched cloud computing services using HP's technology to provide software and related infrastructure to business organisations on pay-per-use model.
"Cloud computing market in India is estimated to grow at a CAGR of 40 per cent by 2014. With our end-to-end telecom solutions bundled with the latest technologies like 3G and 4G, Bharti Airtel is poised to lead this space," Bharti Airtel CEO Sanjay Kapoorsaid in a statement.
Through its Cloud Enablement Platform (CLEP), Bharti Airtel will offer hosted Software as a Service (SaaS) and IaaS (Infrastructure-as-a-Service) applications to the small and large enterprises on a pay-as-you-go model, it added.
In cloud computing, end users are not required to buy software or devices as they are provided by service providers on a rental basis.
HP will implement and manage Bharti's CLEP. The company said that initially it will offer business solutions like ERP ( Enterprise Resource Planning), accounting packages and storage and compute.
Going forward, the company will introduce diversify SaaS applications on the same platform especially for small and medium business customers, the statement said.
"Cloud computing market in India is estimated to grow at a CAGR of 40 per cent by 2014. With our end-to-end telecom solutions bundled with the latest technologies like 3G and 4G, Bharti Airtel is poised to lead this space," Bharti Airtel CEO Sanjay Kapoorsaid in a statement.
Through its Cloud Enablement Platform (CLEP), Bharti Airtel will offer hosted Software as a Service (SaaS) and IaaS (Infrastructure-as-a-Service) applications to the small and large enterprises on a pay-as-you-go model, it added.
In cloud computing, end users are not required to buy software or devices as they are provided by service providers on a rental basis.
HP will implement and manage Bharti's CLEP. The company said that initially it will offer business solutions like ERP ( Enterprise Resource Planning), accounting packages and storage and compute.
Going forward, the company will introduce diversify SaaS applications on the same platform especially for small and medium business customers, the statement said.
Tuesday, July 3, 2012
UK's PizzaExpress to debut in India soon hires CEO
New Delhi: The UK-based casual dining restaurant chain PizzaExpress has kicked off the process of starting its India operation, almost eight months after signing a 50-50 joint venture partnership with Bharti Family Office.
As a first step, a chief executive officer (CEO) has been hired for the India business, and the company is learnt to be looking at a year-end launch of the chain.
Ramit Mittal, son of Rakesh Mittal, vice-chairman and managing director of Bharti Enterprises and elder brother of Bharti Group Chairman Sunil Mittal, is spearheading the PizzaExpress project from the Bharti Family Office side. Bharti Family Office is an initiative of the promoters of the Bharti group through their personal investments. The Bharti group’s business interest ranges from telecom to media to retail.
Since Ramit Mittal, 33, is already based in Mumbai as co-founder and joint managing director of Bulldog Media and Entertainment, PizzaExpress is likely to have its India headquarters in the same city, people close to the development say. Among other programmes, Bulldog Media is known for the television serial it produced—Kya Aap Paanchvi Paas Se Tez Hain — Hindi adaptation of the international hit Are You Smarter Than A Fifth Grader.
The first few outlets of the PizzaExpress chain are expected to open in metros like Mumbai and Delhi.
An official representing the joint venture confirmed that Vivek Mathur, who ‘s coming from the Godrej group, has been appointed CEO for PizzaExpress India. Over the next two to three months, many more senior and middle-level appointments are slated to take place.
Mathur was executive director and president (marketing, sales and innovation) at Godrej Consumer Products Ltd. Prior to that, he was managing director at Godrej Hershey Ltd and chief operating officer (marketing, sales) at Godrej Sara Lee. He has also worked with Tata Global Beverages Ltd and Hindustan Unilever Ltd. When asked about the chain opening plans, a company spokesperson said: “The joint venture is making progress as per our plans. We continue to work on developing the brand, business and team in India. However, at this stage, we don’t have anything specific to share.”
Last October, Gourmet Investments, promoted by Bharti Family Office, and the UK-based PizzaExpress Holdings had announced the joint venture to launch the PizzaExpress chain of restaurants in India. This will be the second coming for PizzaExpress, as its first India venture with the V K Modi group had failed to take off some eight years ago. The 46-year-old PizzaExpress has over 450 restaurants across Britain, China, Europe, Hong Kong, Japan and West Asian countries.
Ramit is one of the next-gen Mittals to have already worked with the family business. While his present assignment is with Bharti Family Office, he was earlier engaged with Easy Day, Bharti’s retail venture. Rakesh Mittal’s younger son Rajit Mittal is currently not related to the Bharti business—he is co-founder and director of Tatva Renewable Energy that provides green solutions to several companies including Bharti units. Rajit Mittal, too, was initiated into the Bharti business earlier when he worked on many projects in mobile technology and retail across group companies.
Sunil Mittal’s twins—Kavin and Shravin—are both engaged in the group business. While Kavin Mittal is the head of strategy and product development at a joint venture between Bharti Enterprises and Japan’s telecom and internet major Softbank, Shravin Mittal is a manager with the group’s telecom business in Africa. Sunil Mittal’s daughter Eiesha is married and not engaged in Bharti group family business.
The youngest brother of Sunil Mittal, Rajan Mittal, who’s handling the retail business of the group as vice-chairman and managing director of Bharti Enterprises, has two sons—Zubin and Armaan—who are studying and still have some years before getting initiated into the family business.
As a first step, a chief executive officer (CEO) has been hired for the India business, and the company is learnt to be looking at a year-end launch of the chain.
Ramit Mittal, son of Rakesh Mittal, vice-chairman and managing director of Bharti Enterprises and elder brother of Bharti Group Chairman Sunil Mittal, is spearheading the PizzaExpress project from the Bharti Family Office side. Bharti Family Office is an initiative of the promoters of the Bharti group through their personal investments. The Bharti group’s business interest ranges from telecom to media to retail.
Since Ramit Mittal, 33, is already based in Mumbai as co-founder and joint managing director of Bulldog Media and Entertainment, PizzaExpress is likely to have its India headquarters in the same city, people close to the development say. Among other programmes, Bulldog Media is known for the television serial it produced—Kya Aap Paanchvi Paas Se Tez Hain — Hindi adaptation of the international hit Are You Smarter Than A Fifth Grader.
The first few outlets of the PizzaExpress chain are expected to open in metros like Mumbai and Delhi.
An official representing the joint venture confirmed that Vivek Mathur, who ‘s coming from the Godrej group, has been appointed CEO for PizzaExpress India. Over the next two to three months, many more senior and middle-level appointments are slated to take place.
Mathur was executive director and president (marketing, sales and innovation) at Godrej Consumer Products Ltd. Prior to that, he was managing director at Godrej Hershey Ltd and chief operating officer (marketing, sales) at Godrej Sara Lee. He has also worked with Tata Global Beverages Ltd and Hindustan Unilever Ltd. When asked about the chain opening plans, a company spokesperson said: “The joint venture is making progress as per our plans. We continue to work on developing the brand, business and team in India. However, at this stage, we don’t have anything specific to share.”
Last October, Gourmet Investments, promoted by Bharti Family Office, and the UK-based PizzaExpress Holdings had announced the joint venture to launch the PizzaExpress chain of restaurants in India. This will be the second coming for PizzaExpress, as its first India venture with the V K Modi group had failed to take off some eight years ago. The 46-year-old PizzaExpress has over 450 restaurants across Britain, China, Europe, Hong Kong, Japan and West Asian countries.
Ramit is one of the next-gen Mittals to have already worked with the family business. While his present assignment is with Bharti Family Office, he was earlier engaged with Easy Day, Bharti’s retail venture. Rakesh Mittal’s younger son Rajit Mittal is currently not related to the Bharti business—he is co-founder and director of Tatva Renewable Energy that provides green solutions to several companies including Bharti units. Rajit Mittal, too, was initiated into the Bharti business earlier when he worked on many projects in mobile technology and retail across group companies.
Sunil Mittal’s twins—Kavin and Shravin—are both engaged in the group business. While Kavin Mittal is the head of strategy and product development at a joint venture between Bharti Enterprises and Japan’s telecom and internet major Softbank, Shravin Mittal is a manager with the group’s telecom business in Africa. Sunil Mittal’s daughter Eiesha is married and not engaged in Bharti group family business.
The youngest brother of Sunil Mittal, Rajan Mittal, who’s handling the retail business of the group as vice-chairman and managing director of Bharti Enterprises, has two sons—Zubin and Armaan—who are studying and still have some years before getting initiated into the family business.
Reliance Infrastructure commences operation of its sixth road project worth Rs 800 crore
New Delhi: Reliance Infrastructure Limited (RInfra), one of the largest road developers in the country, has commenced the operation of its sixth road project worth Rs 800 crore entailing four laning of Gurgaon - Faridabad and two laning of Ballabhgarh - Sohna road. The company had executed the 66-kilometre project through its Special Purpose Vehicle (SPV) and will be collecting toll for a period of 17 years.
The Gurgaon- Faridabad corridor connects major tourist destinations, industrial zones, corporate offices and International airport (T3) of Delhi. This 66 kms long corridor includes Gurgaon-Faridabad, Ballabhgarh-Sohna, Pali Bakri, Surajkund Road.
"The corridor will witness approximately 36,000 vehicles per day that is expected to double in the next five years," said Lalit Jalan, CEO, Reliance Infrastructure.
He further added " Road sector is a key business for Reliance Infrastructure as it gives minimum targeted return on equity and enhances the valuation of our existing Road Portfolio. With current order book of eleven road projects, we will generate from next financial year a revenue of Rs.1200 crore per year with 15% y-o-y growth rate."
The average vehicle speed on this corridor now will go up from 12km/hr to 60km/hr, thereby reducing the traveling time by 40% - 50% and saving almost 40% on fuel cost. Commuters traveling the entire stretch of Gurgoan - Faridabad - Ballabhgarh - Sohna road can now cover this distance in less than two hours whereas earlier this same distance used to take almost five hours.
The Gurgaon- Faridabad corridor connects major tourist destinations, industrial zones, corporate offices and International airport (T3) of Delhi. This 66 kms long corridor includes Gurgaon-Faridabad, Ballabhgarh-Sohna, Pali Bakri, Surajkund Road.
"The corridor will witness approximately 36,000 vehicles per day that is expected to double in the next five years," said Lalit Jalan, CEO, Reliance Infrastructure.
He further added " Road sector is a key business for Reliance Infrastructure as it gives minimum targeted return on equity and enhances the valuation of our existing Road Portfolio. With current order book of eleven road projects, we will generate from next financial year a revenue of Rs.1200 crore per year with 15% y-o-y growth rate."
The average vehicle speed on this corridor now will go up from 12km/hr to 60km/hr, thereby reducing the traveling time by 40% - 50% and saving almost 40% on fuel cost. Commuters traveling the entire stretch of Gurgoan - Faridabad - Ballabhgarh - Sohna road can now cover this distance in less than two hours whereas earlier this same distance used to take almost five hours.
GSPL-led consortia ties up funds for Rs 13,700-cr pipeline projects
Coimbatore: Gujarat State Petronet Ltd and its project collaborators have sewed up funds valued at around Rs 9,500 crore for two pipeline projects.
With this, GSPL-led joint venture has secured financial closure for three cross-country pipeline projects involving a total investment of about Rs 13,700 crore in which the three PSU oil giants — IOC, BPCL and HPCL — are partners, GSPL has said in a communication to the stock exchanges.
The company said that the GSPL-led joint venture company GSPL India Transco Ltd signed an agreement on June 29 for a syndicate loan of Rs 5,080 crore with a consortium of 14 banks for its Mallavaram-Bhopal-Bhilwara-Vijaipur pipeline project.
Another joint venture company GSPL India Gasnet Ltd has entered into an agreement for a Rs 4,516-crore loan with a consortium of 12 banks for its Mehsana-Bhatinda-Jammu-Srinagar pipeline project.
Gujarat State Petronet said the joint venture companies have achieved financial closure for the three cross-country pipeline projects with a total outlay of Rs 13,704 crore.
While 70 per cent of the funds would come through debt syndication of Rs 9,596 crore, the balance 30 per cent will be from equity infusion of Rs 4,108 crore by the joint venture partners — Gujarat State Petronet Ltd (52 per cent), Indian Oil Corporation Ltd (26 per cent), Bharat petroleum Corporation Ltd (11 per cent) & Hindustan Petroleum Corporation Ltd (11 per cent).
With this, GSPL-led joint venture has secured financial closure for three cross-country pipeline projects involving a total investment of about Rs 13,700 crore in which the three PSU oil giants — IOC, BPCL and HPCL — are partners, GSPL has said in a communication to the stock exchanges.
The company said that the GSPL-led joint venture company GSPL India Transco Ltd signed an agreement on June 29 for a syndicate loan of Rs 5,080 crore with a consortium of 14 banks for its Mallavaram-Bhopal-Bhilwara-Vijaipur pipeline project.
Another joint venture company GSPL India Gasnet Ltd has entered into an agreement for a Rs 4,516-crore loan with a consortium of 12 banks for its Mehsana-Bhatinda-Jammu-Srinagar pipeline project.
Gujarat State Petronet said the joint venture companies have achieved financial closure for the three cross-country pipeline projects with a total outlay of Rs 13,704 crore.
While 70 per cent of the funds would come through debt syndication of Rs 9,596 crore, the balance 30 per cent will be from equity infusion of Rs 4,108 crore by the joint venture partners — Gujarat State Petronet Ltd (52 per cent), Indian Oil Corporation Ltd (26 per cent), Bharat petroleum Corporation Ltd (11 per cent) & Hindustan Petroleum Corporation Ltd (11 per cent).
Japan to set up auto component and engineering park in Gujarat
Gandhinagar: The Japanese are learnt to have zeroed in on a place near the proposed Maruti-Suzuki plant site - which is spread on about 700 hectares (ha) at Hansalpur, near Becharaji Temple - to set up a new auto component-cum-engineering park near Hansalpur, off Behechraji Temple, in North Gujarat.
Well-placed Sachivalaya sources said, a high-level delegation consisting of senior officials of the Japanese External Trade Organisation (JETRO) was here in Gandhinagar after visiting the site and told Gujarat government officials last week that the location would be "ideal" for Japanese units to come and invest in the nearby region for manufacturing auto components and other engineering products.
"JETRO officials have already had discussions twice earlier. This was the third round. At present, the Gujarat Industrial Development Corporation (GIDC) is in the process of working out details for setting up a new industrial estate near the Maruti site. The GIDC expects to acquire 1,100 hectares (ha) of land in the area", a senior official said.
"The GIDC has sent its proposal for administrative approval of the state government, after which measurement for area to be acquired will begin. In all probability, the new GIDC estate will be about 15 kilometres off the Maruti site", the official added.
The Japanese, officials point out, are interested in setting up shop in nearly half of the estate, or around 500 ha. Each unit will be between 3 and 6 ha, which will be made available by GIDC. "The deal may be clinched soon", the official pointed out.
"These will be essentially small Japanese units, of the type that exist near Chennai and National Capital Region (NCR)", the official said, adding, "The units will serve Maruti-Suzuki cars, to be manufactured off Bhechraji, and also the car manufacturing units to come up near Sanand, Tata Motors, which is manufacturing Nano cars, Peugeot and Ford, which will set up their auto facilities."
Besides, effort will be to go in for exporting the auto components in a big way. While infrastructural facilities were a major reason why Maruti-Suzuki chose Gujarat over other states, officials say, the Rs 4,000 crore plant on 280 ha was also set up because of "excellent port connectivity to Mundra". JETRO holds a similar view for auto component units.
Meanwhile, in an effort to boost industrialization in the region, Gujarat government has decided to widen the current road from Sanand to Bhechraji, which is about 90 km. "The current road is 7 metres wide. A decision has been taken to strengthen the road and widen it to 10 metres. Work order to widen the road has been given", a senior official said.
Well-placed Sachivalaya sources said, a high-level delegation consisting of senior officials of the Japanese External Trade Organisation (JETRO) was here in Gandhinagar after visiting the site and told Gujarat government officials last week that the location would be "ideal" for Japanese units to come and invest in the nearby region for manufacturing auto components and other engineering products.
"JETRO officials have already had discussions twice earlier. This was the third round. At present, the Gujarat Industrial Development Corporation (GIDC) is in the process of working out details for setting up a new industrial estate near the Maruti site. The GIDC expects to acquire 1,100 hectares (ha) of land in the area", a senior official said.
"The GIDC has sent its proposal for administrative approval of the state government, after which measurement for area to be acquired will begin. In all probability, the new GIDC estate will be about 15 kilometres off the Maruti site", the official added.
The Japanese, officials point out, are interested in setting up shop in nearly half of the estate, or around 500 ha. Each unit will be between 3 and 6 ha, which will be made available by GIDC. "The deal may be clinched soon", the official pointed out.
"These will be essentially small Japanese units, of the type that exist near Chennai and National Capital Region (NCR)", the official said, adding, "The units will serve Maruti-Suzuki cars, to be manufactured off Bhechraji, and also the car manufacturing units to come up near Sanand, Tata Motors, which is manufacturing Nano cars, Peugeot and Ford, which will set up their auto facilities."
Besides, effort will be to go in for exporting the auto components in a big way. While infrastructural facilities were a major reason why Maruti-Suzuki chose Gujarat over other states, officials say, the Rs 4,000 crore plant on 280 ha was also set up because of "excellent port connectivity to Mundra". JETRO holds a similar view for auto component units.
Meanwhile, in an effort to boost industrialization in the region, Gujarat government has decided to widen the current road from Sanand to Bhechraji, which is about 90 km. "The current road is 7 metres wide. A decision has been taken to strengthen the road and widen it to 10 metres. Work order to widen the road has been given", a senior official said.
Gilt trading platform for retail users goes live
Mumbai: Retail participants can now manage their government bond holdings directly, with the help of a web-based trading platform supported and run by the Clearing Corporation of India Limited (CCIL). Bond holders have been allowed to initiate trade in the secondary market. However, there would be limits stipulated by primary members, according to regulatory norms.
To promote retail participation in sovereign debt, the Reserve Bank of India (RBI) had allowed direct access to bond holders in the Annual Monetary and Credit Policy for 2012-13. Yesterday, RBI said the web-based platform had been implemented and could be accessed at www.ndsind.com. Currently, banks and financial institutions are the major investors in government debt.
To gain access to the Negotiated Dealing System-Gilts Order Matching System (NDS-OM), or the secondary market for government bonds, retail participants have to submit a request with the primary member, who would ensure know-your-customer norms are fulfiled. The primary member would then approach CCIL with e-tokens, digital certificates and passwords for its users.
Currently, NDS-OM has 161 active primary members, including banks, primary dealers, insurance companies, mutual fund companies and provident funds.
A gilt account holder can log in, watch online security movements and place orders instantly, within the price or yield range stipulated by its primary member. RBI has said since the primary member would be responsible for trade initiated by its clients, it can monitor and hold, or cancel, the order if need arises. A pop-up notification and deal ticket for the client would help keep track of successful deals.
Yesterday, IDBI Bank’s primary dealer wing said it had enabled one of its clients to access the secondary market using the new platform, and others were expected to follow.
To promote retail participation in sovereign debt, the Reserve Bank of India (RBI) had allowed direct access to bond holders in the Annual Monetary and Credit Policy for 2012-13. Yesterday, RBI said the web-based platform had been implemented and could be accessed at www.ndsind.com. Currently, banks and financial institutions are the major investors in government debt.
To gain access to the Negotiated Dealing System-Gilts Order Matching System (NDS-OM), or the secondary market for government bonds, retail participants have to submit a request with the primary member, who would ensure know-your-customer norms are fulfiled. The primary member would then approach CCIL with e-tokens, digital certificates and passwords for its users.
Currently, NDS-OM has 161 active primary members, including banks, primary dealers, insurance companies, mutual fund companies and provident funds.
A gilt account holder can log in, watch online security movements and place orders instantly, within the price or yield range stipulated by its primary member. RBI has said since the primary member would be responsible for trade initiated by its clients, it can monitor and hold, or cancel, the order if need arises. A pop-up notification and deal ticket for the client would help keep track of successful deals.
Yesterday, IDBI Bank’s primary dealer wing said it had enabled one of its clients to access the secondary market using the new platform, and others were expected to follow.
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