New Delhi: In what could be seen as another milestone in GAIL India Ltd’s race to secure gas supplies, the state-run company has signed an agreement with Russian energy giant Gazprom to buy 2.5 million tonnes per annum of gas for 20 years beginning 2018-19.
The company has “signed a legally binding 20-year liquefied natural gas (LNG) sales and purchase agreement with Gazprom Marketing and Trading Singapore, a wholly-owned subsidiary of Gazprom Marketing and Trading,” GAIL said in a press statement here.
LNG will come from Gazprom’s Shtokman production facilities, which have 130 trillion cubic feet of in place reserves. “Under the contract, LNG will be sustainably priced with an oil-indexed formula and delivered to Dahej (Gujarat), Dabhol (Maharashtra) and Kochi (Kerala) terminals in India,” GAIL said without sharing price details.
Shtokman field, one of the world’s largest natural gas fields, lies in the Russian sector of the Barents Sea.
According to B C Tripathi, chairman and managing director of GAIL, the long-term LNG supply agreement with Gazprom, which holds the world’s largest gas reserves, is another milestone in the Indian–Russian energy cooperation.
In August this year, GAIL had signed a contract with French energy giant GDF Suez to import 800,000 tonnes of LNG from 2013 to 2014. GAIL has been expanding its global presence to secure gas supplies. It had earlier signed a 20-year sales and purchase agreement with Sabine Pass Liquefaction LLC, a unit of the US-based Cheniere EnergyPartners, for supply of 3.5 million tonnes per year of LNG beginning 2017.
It has also executed a gas sales purchase agreement with Turkmengaz of Turkmenistan for buying 38 million standard cubic meters per day of gas for 30 years through the Turkmenistan-Afghanistan-Pakistan-India pipeline.
Success in my Habit
Wednesday, October 3, 2012
SAIL production up 7 per cent in Q2 of FY'13
Kolkata: Steel AUthority of India Limited (SAIL) recorded a 7% growth in hot metal production in the second quarter between July-September 2012, compared to the corresponding period last year. SAIL produced 3.6 million tonnes (mt) in Q2 of FY'13.
The company reported a growth in crude steel and saleable steel production to the tune of 5% and 4%respectively during Q2 of FY'13 compared to the previous corresponding period. The company's production of crude steel and saleble steel reached 3.39 mt and 3.17 mt respectively in the second quarter of FY'13.
In September 2012, SAIL registered a 6% growth in hot metal production and 4% growth in production of crude steel and saleable stee compared to the same month last year. In terms of operational performance, blast furnace productivity showed substantial increase of 8% in Q2 of FY'13 over previous corresponding period.
In the first half of the current fiscal, (April-September 2012), SAIL registered a 3% growth in production of both hot metal and crude steel, over same period last year. Improved techno-economic parameters in H-1 of current fiscal supported the growth trend with BF productivity, specific energy consumption and coke rate registering improvements of 4%, 3% and 2% respectively.
The production growth is in tune with SAIL's ongoing modernization & expansion plan, as it reaches the advanced stages of completion. SAIL also hopes to produce new variety and range of products to cater to new market segments.
The company reported a growth in crude steel and saleable steel production to the tune of 5% and 4%respectively during Q2 of FY'13 compared to the previous corresponding period. The company's production of crude steel and saleble steel reached 3.39 mt and 3.17 mt respectively in the second quarter of FY'13.
In September 2012, SAIL registered a 6% growth in hot metal production and 4% growth in production of crude steel and saleable stee compared to the same month last year. In terms of operational performance, blast furnace productivity showed substantial increase of 8% in Q2 of FY'13 over previous corresponding period.
In the first half of the current fiscal, (April-September 2012), SAIL registered a 3% growth in production of both hot metal and crude steel, over same period last year. Improved techno-economic parameters in H-1 of current fiscal supported the growth trend with BF productivity, specific energy consumption and coke rate registering improvements of 4%, 3% and 2% respectively.
The production growth is in tune with SAIL's ongoing modernization & expansion plan, as it reaches the advanced stages of completion. SAIL also hopes to produce new variety and range of products to cater to new market segments.
Auto parts industry attracts heavy online traffic: Study
Is among the top three sectors on B2B site in terms of the number of buyers it attracted from developed and developing countries
New Delhi: A report by IndiaMART.com, one of India’s largest online B2B marketplaces, has found that the SME-dominated automotive sector is among the top three sectors on the site in terms of the number of buyers it attracted from other countries, both developed and developing.
The report, The Automotive Components Sector, reveals that the US emerged as one of the leading countries in terms of the number of its buyers visiting IndiaMART.com’s automotive category for their sourcing requirements — 12.8 per cent of its total buyers did so.
Over one million SMEs from sectors such as auto components, apparel and fashion accessories, engineering and industrial, home decor, and others are registered with IndiaMART.com, which acts as a B2B matchmaking platform for these suppliers and helps them generate leads from over five million buyers from across the globe.
Asian countries are also key buyers for auto products from India. The portal’s automotive category had visits from buyers based in Pakistan (8.2 per cent), China (7.6 per cent), Malaysia (7.3 per cent) and Bangladesh (7.2 per cent). Buyers from India alone accounted for 28.3 per cent of online visitors for auto parts.
The sector also attracted 6.8 per cent of the total buyers from the UK, followed by 6.5 per cent of Canadian buyers, 6.4 per cent of buyers from Germany, and 6.3 per cent of Australian buyers. Other countries from where buyers showed interest in online sourcing of auto components were the UAE, Saudi Arabia, Egypt and Iran.
The importance of the automotive sector was also indicated by the number of suppliers from this sector as a proportion of the total number of suppliers from each key country.
At the top was Canada, 13.8 per cent of whose registered vendors were from the auto parts sector, followed by Denmark (12.3 per cent), China (12.1 per cent), Australia (7.4 per cent), France and Germany.
The report reveals that the most popular product searches were for air pollution control devices, fuel injection parts, digital tachometers, security gadgets, gear parts, and car cables.
Information on “buy leads” – buyers’ sourcing inquiries that are aggregated by IndiaMART.com and purchased by interested suppliers, who then contact potential buyers to generate business – reveals that the most number come from Maharashtra, which contributes 25.6 per cent of the total buy leads generated in India.
Maharashtra was followed by Gujarat (12.8 per cent), Tamil Nadu (11 per cent), Andhra Pradesh (7.2 per cent) and Delhi (6.9 per cent).
Among the Indian suppliers registered on IndiaMART.com, the auto component sector features in the top five categories, contributing 11.8 per cent to the whole pie.
Among Indian cities, Mumbai has the maximum number of auto component suppliers, followed by Delhi, Pune, Chennai, Ahmedabad, Bengaluru, Kolkata, Ludhiana and Hyderabad.
Of the countries from which most buy leads are generated, the US tops the list with 10.7 per cent, followed by UK (6.1 per cent), Turkey (4.7 per cent), Iran (4.1 per cent) and Saudi Arabia (3.7 per cent).
Product categories such as pumps and pumping equipments bag the top slot with 8.1 per cent buy leads posted on them, leaving behind products such as nuts and bolts in second place and lights and accessories in third position.
New Delhi: A report by IndiaMART.com, one of India’s largest online B2B marketplaces, has found that the SME-dominated automotive sector is among the top three sectors on the site in terms of the number of buyers it attracted from other countries, both developed and developing.
The report, The Automotive Components Sector, reveals that the US emerged as one of the leading countries in terms of the number of its buyers visiting IndiaMART.com’s automotive category for their sourcing requirements — 12.8 per cent of its total buyers did so.
Over one million SMEs from sectors such as auto components, apparel and fashion accessories, engineering and industrial, home decor, and others are registered with IndiaMART.com, which acts as a B2B matchmaking platform for these suppliers and helps them generate leads from over five million buyers from across the globe.
Asian countries are also key buyers for auto products from India. The portal’s automotive category had visits from buyers based in Pakistan (8.2 per cent), China (7.6 per cent), Malaysia (7.3 per cent) and Bangladesh (7.2 per cent). Buyers from India alone accounted for 28.3 per cent of online visitors for auto parts.
The sector also attracted 6.8 per cent of the total buyers from the UK, followed by 6.5 per cent of Canadian buyers, 6.4 per cent of buyers from Germany, and 6.3 per cent of Australian buyers. Other countries from where buyers showed interest in online sourcing of auto components were the UAE, Saudi Arabia, Egypt and Iran.
The importance of the automotive sector was also indicated by the number of suppliers from this sector as a proportion of the total number of suppliers from each key country.
At the top was Canada, 13.8 per cent of whose registered vendors were from the auto parts sector, followed by Denmark (12.3 per cent), China (12.1 per cent), Australia (7.4 per cent), France and Germany.
The report reveals that the most popular product searches were for air pollution control devices, fuel injection parts, digital tachometers, security gadgets, gear parts, and car cables.
Information on “buy leads” – buyers’ sourcing inquiries that are aggregated by IndiaMART.com and purchased by interested suppliers, who then contact potential buyers to generate business – reveals that the most number come from Maharashtra, which contributes 25.6 per cent of the total buy leads generated in India.
Maharashtra was followed by Gujarat (12.8 per cent), Tamil Nadu (11 per cent), Andhra Pradesh (7.2 per cent) and Delhi (6.9 per cent).
Among the Indian suppliers registered on IndiaMART.com, the auto component sector features in the top five categories, contributing 11.8 per cent to the whole pie.
Among Indian cities, Mumbai has the maximum number of auto component suppliers, followed by Delhi, Pune, Chennai, Ahmedabad, Bengaluru, Kolkata, Ludhiana and Hyderabad.
Of the countries from which most buy leads are generated, the US tops the list with 10.7 per cent, followed by UK (6.1 per cent), Turkey (4.7 per cent), Iran (4.1 per cent) and Saudi Arabia (3.7 per cent).
Product categories such as pumps and pumping equipments bag the top slot with 8.1 per cent buy leads posted on them, leaving behind products such as nuts and bolts in second place and lights and accessories in third position.
Every third tech start-up in US has Indian DNA
The number of technology firms in the US co-founded by the Chinese has also gone up to 8.1% compared to 6.9 in 2005
Bangalore: At a time when the US has started to see a drop in the number of immigrant-founded technology companies, Indians and Chinese immigrant entrepreneurs have not followed the trend.
According to a recent study by Kauffman Foundation, based on a sample survey, about 33.2 per cent of the co-founders of engineering and technology companies incorporated in the US during the last six years were Indians. This is an increase of about seven percentage points from what a similar study that examined immigrant-founded companies between 1995 and 2005 found.
The number of technology companies in the US co-founded by the Chinese has also gone up to 8.1 per cent compared to 6.9 in 2005, it says.
The study, “America’s New Immigrant Entrepreneurs: Then and Now”, is based on a survey among a random sample of 1,882 companies of the total 107,819 engineering and technology companies founded in the last six years in the US. Of those, 456 had at least one foreign-born founder.
It found the proportion of immigrant-founded companies in the country slipped to 24.3 per cent from 25.3 per cent in 2005. The drop was more pronounced in Silicon Valley, where the percentage of immigrant-founded start-ups declined from 52.4 per cent to 43.9 per cent.
“The exceptions to this downward trend were immigrants from India... Indians, in fact, founded more of the engineering and technology firms than immigrants born in the next nine countries combined,” the study said.
The implications of the findings, conducted by researchers at Duke University, The Berkeley School of Information and Stanford University, have now been encapsulated in a book ‘The Immigrant Exodus: Why America Is Losing the Global Race to Capture Entrepreneurial Talent’. The book has been written by Vivek Wadhwa, director of research at the Center for Entrepreneurship and Research Commercialization at the Pratt School of Engineering, Duke University.
“The US risks losing a key growth engine just when the economy needs job creators more than ever,” said Wadhwa. “The US can reverse these trends with changes in policies and opportunities, if it acts swiftly. It is imperative that we create a start-up visa for these entrepreneurs and expand the number of green cards for skilled foreigners to work in these start-ups. Many immigrants would gladly remain in the US to start and grow companies that will lead to jobs,” he added.
Immigrant founders employed about 560,000 workers and generated an estimated $63 billion in sales from 2006 to 2012. “For several years, anecdotal evidence has suggested an unwelcoming immigration system and environment in the US have created a ‘reverse brain drain.’ This report confirms it with data,” said Dane Stangler, director of research and policy at the Kauffman Foundation.
“To maintain a dynamic economy, the US needs to embrace immigrant entrepreneurs,” he added.
Bangalore: At a time when the US has started to see a drop in the number of immigrant-founded technology companies, Indians and Chinese immigrant entrepreneurs have not followed the trend.
According to a recent study by Kauffman Foundation, based on a sample survey, about 33.2 per cent of the co-founders of engineering and technology companies incorporated in the US during the last six years were Indians. This is an increase of about seven percentage points from what a similar study that examined immigrant-founded companies between 1995 and 2005 found.
The number of technology companies in the US co-founded by the Chinese has also gone up to 8.1 per cent compared to 6.9 in 2005, it says.
The study, “America’s New Immigrant Entrepreneurs: Then and Now”, is based on a survey among a random sample of 1,882 companies of the total 107,819 engineering and technology companies founded in the last six years in the US. Of those, 456 had at least one foreign-born founder.
It found the proportion of immigrant-founded companies in the country slipped to 24.3 per cent from 25.3 per cent in 2005. The drop was more pronounced in Silicon Valley, where the percentage of immigrant-founded start-ups declined from 52.4 per cent to 43.9 per cent.
“The exceptions to this downward trend were immigrants from India... Indians, in fact, founded more of the engineering and technology firms than immigrants born in the next nine countries combined,” the study said.
The implications of the findings, conducted by researchers at Duke University, The Berkeley School of Information and Stanford University, have now been encapsulated in a book ‘The Immigrant Exodus: Why America Is Losing the Global Race to Capture Entrepreneurial Talent’. The book has been written by Vivek Wadhwa, director of research at the Center for Entrepreneurship and Research Commercialization at the Pratt School of Engineering, Duke University.
“The US risks losing a key growth engine just when the economy needs job creators more than ever,” said Wadhwa. “The US can reverse these trends with changes in policies and opportunities, if it acts swiftly. It is imperative that we create a start-up visa for these entrepreneurs and expand the number of green cards for skilled foreigners to work in these start-ups. Many immigrants would gladly remain in the US to start and grow companies that will lead to jobs,” he added.
Immigrant founders employed about 560,000 workers and generated an estimated $63 billion in sales from 2006 to 2012. “For several years, anecdotal evidence has suggested an unwelcoming immigration system and environment in the US have created a ‘reverse brain drain.’ This report confirms it with data,” said Dane Stangler, director of research and policy at the Kauffman Foundation.
“To maintain a dynamic economy, the US needs to embrace immigrant entrepreneurs,” he added.
HSBC's PMI stood at 52.8 in September 2012
New Delhi: The HSBC’s Manufacturing Purchasing Managers Index (PMI)—a measure of factory production—stood at 52.8 in September 2012. The September PMI reading was supported by faster output growth and rising export orders, as per the HSBC survey.
The index has remained above the 50 mark for more than three years now, below which it indicates contraction.
“Economic activity in the manufacturing sector held steady supported by faster output growth and rising export orders,” according to Mr Leif Eskesen, Chief Economist for India and the ASEAN, HSBC.
The Government of India has taken number of initiatives to boost the economy such as allowing multi-brand retail sector to foreign direct investment (FDI), hiking diesel prices by over Rs 5 a litre, plugging the number of subsidised LPG cylinders to six per family a year, allowing foreign carriers to pick up stake in domestic airlines besides liberalising FDI rules for broadcasting sector.
In addition, HSBC highlighted that job creation, on the employment front, was recorded in September 2012, the seventh successive month of growth. Payroll numbers increased to meet stronger demand, with some signalling expansions in marketing departments.
The index has remained above the 50 mark for more than three years now, below which it indicates contraction.
“Economic activity in the manufacturing sector held steady supported by faster output growth and rising export orders,” according to Mr Leif Eskesen, Chief Economist for India and the ASEAN, HSBC.
The Government of India has taken number of initiatives to boost the economy such as allowing multi-brand retail sector to foreign direct investment (FDI), hiking diesel prices by over Rs 5 a litre, plugging the number of subsidised LPG cylinders to six per family a year, allowing foreign carriers to pick up stake in domestic airlines besides liberalising FDI rules for broadcasting sector.
In addition, HSBC highlighted that job creation, on the employment front, was recorded in September 2012, the seventh successive month of growth. Payroll numbers increased to meet stronger demand, with some signalling expansions in marketing departments.
Monday, October 1, 2012
Insecticides India forms Rs 100-cr joint venture with Japanese firm
Hyderabad: Insecticides (India) has formed a joint venture with the Japanese firm Otsuka AgriTechno Company to conduct joint research on new products. The JV partners would invest Rs 100 crore in the next three-four years on the research and development centre that is coming up at Bhiwadi (Rajasthan).
“We will be investing Rs 50 crore initially. The remaining investment would be infused in the subsequent years depending on the progress made there. It would have 50 employees initially,” Rajesh Aggarwal, Managing Director of Insecticides (India), told Business Line.
The Japanese firm would hold 70 per cent in the joint venture, with the Indian firm retaining remaining 30 per cent.
“The JV will allow both partners to tap into skilled yet relatively inexpensive technology talent in India to develop new molecules for global markets, including India and Japan,” Rajesh Aggarwal said.
“OAT would bring in its expertise in research and development and know-how. The JV would mainly focus on research and invention of new agricultural chemicals,” he said.
The centre is expected to begin work by the middle of next year. The team would comprise scientists from both India and Japan. We are hoping to come out with about four-five molecules in THE next five years. We will primarily target insecticides and herbicides,” he said.
The Tokyo-based Otsuka AgriTechno manufactures and sells agricultural chemicals and fertilisers.
“We will be investing Rs 50 crore initially. The remaining investment would be infused in the subsequent years depending on the progress made there. It would have 50 employees initially,” Rajesh Aggarwal, Managing Director of Insecticides (India), told Business Line.
The Japanese firm would hold 70 per cent in the joint venture, with the Indian firm retaining remaining 30 per cent.
“The JV will allow both partners to tap into skilled yet relatively inexpensive technology talent in India to develop new molecules for global markets, including India and Japan,” Rajesh Aggarwal said.
“OAT would bring in its expertise in research and development and know-how. The JV would mainly focus on research and invention of new agricultural chemicals,” he said.
The centre is expected to begin work by the middle of next year. The team would comprise scientists from both India and Japan. We are hoping to come out with about four-five molecules in THE next five years. We will primarily target insecticides and herbicides,” he said.
The Tokyo-based Otsuka AgriTechno manufactures and sells agricultural chemicals and fertilisers.
ABLE roadmap to make biotech $100-billion industry by 2025
Bangalore: Association of Biotech Led Enterprises (ABLE), an industry body for Indian biotech sector, has chalked out a plan to make biotech a $100 billion industry by 2025.
“This is achievable if the biotech industry’s operating landscape becomes more innovation friendly spurred by government’s policies and nudge then the industry could possibly grow at 30 per cent CAGR,” ABLE said.
ABLE recently submitted a report ‘Indian Biotechnology: The Roadmap to the Next Decade and Beyond’ to the Union Department of Biotechnology.
Potential
Dr Satya Prakash Dash, former chief operating officer, ABLE, and author of the report, said, “The potential of India to be a global innovation hub especially in biotech exists. But it needs proper support systems which can help deliver scale up innovative products that are affordable and are of high quality.”
“However to scale up and increase the frequency of such innovations from India and make it a top destination for biotech, central government needs to formulate a workable strategy for the future growth of biotech for each of the segments as well as roadmap the evolving areas,” he added.
Over the last decade the biotech sector’s revenues have increased from $500 million in 2003 to $4 billion in 2011, growing at an average rate of 20 per cent year-on year.
“If a favourable business environment is created, the biotech and healthcare sectors combined will be able to grow at much faster pace of 25-30 per cent and have the potential to generate revenues of $100 billion by 2025,” ABLE explained.
ABLE has also asked for an institutional and structural framework to help the sector achieve its potential as a break out nation in biotech innovation.
Enablers
Listing out the enablers, ABLE said the government should create a strong, streamlined and transparent regulatory foundation that fosters innovation. Build infrastructure to build capacity for research and development and facilitate translation and commercialization potential. Facilitate technology access as well as market access for innovative products to achieve scale through public procurement.
Promote biotech entrepreneurship and provide a channel to access risk capital for all stages of biotech product lifecycle. And nucleate and foster networks and triple helix collaborations.
“This is achievable if the biotech industry’s operating landscape becomes more innovation friendly spurred by government’s policies and nudge then the industry could possibly grow at 30 per cent CAGR,” ABLE said.
ABLE recently submitted a report ‘Indian Biotechnology: The Roadmap to the Next Decade and Beyond’ to the Union Department of Biotechnology.
Potential
Dr Satya Prakash Dash, former chief operating officer, ABLE, and author of the report, said, “The potential of India to be a global innovation hub especially in biotech exists. But it needs proper support systems which can help deliver scale up innovative products that are affordable and are of high quality.”
“However to scale up and increase the frequency of such innovations from India and make it a top destination for biotech, central government needs to formulate a workable strategy for the future growth of biotech for each of the segments as well as roadmap the evolving areas,” he added.
Over the last decade the biotech sector’s revenues have increased from $500 million in 2003 to $4 billion in 2011, growing at an average rate of 20 per cent year-on year.
“If a favourable business environment is created, the biotech and healthcare sectors combined will be able to grow at much faster pace of 25-30 per cent and have the potential to generate revenues of $100 billion by 2025,” ABLE explained.
ABLE has also asked for an institutional and structural framework to help the sector achieve its potential as a break out nation in biotech innovation.
Enablers
Listing out the enablers, ABLE said the government should create a strong, streamlined and transparent regulatory foundation that fosters innovation. Build infrastructure to build capacity for research and development and facilitate translation and commercialization potential. Facilitate technology access as well as market access for innovative products to achieve scale through public procurement.
Promote biotech entrepreneurship and provide a channel to access risk capital for all stages of biotech product lifecycle. And nucleate and foster networks and triple helix collaborations.
Foreign players allowed to bid solo for 2G auctions
New Delhi: The government on Friday allowed foreign entities to participate in the upcoming 2G auctions without an Indian partner. However, the players should form a joint venture with the Indian partner.
According to the new guidelines issued on Friday by department of telecommunications (DoT), foreign entities can participate in the auctions directly and obtain a licence.
This will make the upcoming auctions more attractive to certain foreign players such as Telenor, which wanted to bid directly without an Indian partner in the auctions.
The notice inviting applications (NIA) issued on Friday said that companies interested in starting telecom business in India will have to pay Rs 1 crore for unified licence in a service area where they wish to operate. There will be a lock-in period of three years.
The NIA lists out the rules and regulations governing the auction and is considered the only legally binding document regarding the auction.
Potential bidders have until October 19 to submit applications. DoT will publish ownership details of bidders on October 21. By November 6, DoT will have the final list of bidders and a mock auction is expected to start on 7 November.
The actual auction is expected to start on 12 November.
According to the new guidelines issued on Friday by department of telecommunications (DoT), foreign entities can participate in the auctions directly and obtain a licence.
This will make the upcoming auctions more attractive to certain foreign players such as Telenor, which wanted to bid directly without an Indian partner in the auctions.
The notice inviting applications (NIA) issued on Friday said that companies interested in starting telecom business in India will have to pay Rs 1 crore for unified licence in a service area where they wish to operate. There will be a lock-in period of three years.
The NIA lists out the rules and regulations governing the auction and is considered the only legally binding document regarding the auction.
Potential bidders have until October 19 to submit applications. DoT will publish ownership details of bidders on October 21. By November 6, DoT will have the final list of bidders and a mock auction is expected to start on 7 November.
The actual auction is expected to start on 12 November.
India rated fifth best in the world for growing businesses: Grant Thornton Global Dynamism Index
Kolkata: The Grant Thornton Global Dynamism Index indicates that India is the fifth best country in the world for dynamic growing businesses. According to the index, India sits ahead of Indonesia, Nigeria, Turkey, Singapore, Colombia, Russia and only trails Argentina, China., Uruguay and Chile. "The ratings go well beyond basic GDP data," said Vishesh Chandiok, national managing partner, Grant Thornton India LLP.
"Five areas were identified as holding the key drivers to an economy's dynamism - business operating environment, science and technology, labour and human capital, economics and growth and the financing environment. Within these groups, there were 22 key data points that were analyzed," Chandiok added.
Grant Thornton International CEO Ed Nusbaum feels by considering key fundamentals such as the legal and political risks associated with operating in a given economy, the index gives a much truer reflection of how suitable an environment it offers for dynamic businesses.
In fact, more than 400 senior executives from a broad range of countries and industries were interviewed to determine which aspects of these at-tributes they deemed most important for business growth.
This allowed for the weighting of each aspect according to its perceived relevance. Rather than provide a measure of an economy's success during a period of high economic turbulence, this iteration provides a true illustration of the strength of each economy as a place for dynamic businesses to flourish.
"Five areas were identified as holding the key drivers to an economy's dynamism - business operating environment, science and technology, labour and human capital, economics and growth and the financing environment. Within these groups, there were 22 key data points that were analyzed," Chandiok added.
Grant Thornton International CEO Ed Nusbaum feels by considering key fundamentals such as the legal and political risks associated with operating in a given economy, the index gives a much truer reflection of how suitable an environment it offers for dynamic businesses.
In fact, more than 400 senior executives from a broad range of countries and industries were interviewed to determine which aspects of these at-tributes they deemed most important for business growth.
This allowed for the weighting of each aspect according to its perceived relevance. Rather than provide a measure of an economy's success during a period of high economic turbulence, this iteration provides a true illustration of the strength of each economy as a place for dynamic businesses to flourish.
India's GSAT-10 Communication Satellite Launched Successfully
New Delhi: The launch of ISRO's 101st space mission, GSAT-10 satellite, has been a success. At 3400 kg, GSAT-10 is the heaviest Indian satellite that ISRO has built.
After a smooth countdown lasting 11 hours and 30 minutes, the Ariane-5 launch vehicle lifted off right on schedule at the opening of the launch window at 0248 hrs IST today (September 29,2012). After a flight of 30 minutes and 45 seconds, GSAT-10 was injected into an elliptical Geosynchronous Transfer Orbit (GTO), very close to the intended one.
ISRO's Master Control Facility (MCF) took over the command and control of the GSAT-10 immediately after the injection. Preliminary health checks on the various subsystems of the satellite, namely, Power, Thermal, Command, Sensors, Controls, etc., were performed and all the parameters were found satisfactory. Following this, the satellite was oriented towards the Earth and the Sun using the onboard propulsion system. The satellite is in good health.
In the coming five days, orbit raising maneuvers will be performed to place the satellite in the Geostationary Orbit with required inclination with reference to the equator. The satellite will be moved to the Geostationary Orbit (36,000 km above the equator) by using the satellite propulsion system in a three step approach.
After the completion of orbit raising operations, the two solar panels and both the dual gridded antenna reflectors of GSAT-10 will be deployed for further tests and operations. It is planned to experimentally turn on the communication payloads in the second week of October 2012.
After the successful completion of all in-orbit tests, GSAT-10 will be ready for operational use by November 2012. GSAT-10 will be positioned at 83deg East orbital location along with INSAT-4A and GSAT-12. The operational life of GSAT-10 is expected to be 15 years nominal.
GSAT-10 Satellite has 30 Communication Transponders [12 in Ku-band, 12 in C-band and 6 in Extended C-Band]. Besides, it has a Navigation payload "GAGAN" that would provide GPS signals of improved accuracy (of better than 7 meters) to be used by the Airports Authority of India for Civil Aviation requirements. GSAT-10 is the second satellite in INSAT/GSAT constellation with GAGAN payload after GSAT-8, launched in May 2011.
After a smooth countdown lasting 11 hours and 30 minutes, the Ariane-5 launch vehicle lifted off right on schedule at the opening of the launch window at 0248 hrs IST today (September 29,2012). After a flight of 30 minutes and 45 seconds, GSAT-10 was injected into an elliptical Geosynchronous Transfer Orbit (GTO), very close to the intended one.
ISRO's Master Control Facility (MCF) took over the command and control of the GSAT-10 immediately after the injection. Preliminary health checks on the various subsystems of the satellite, namely, Power, Thermal, Command, Sensors, Controls, etc., were performed and all the parameters were found satisfactory. Following this, the satellite was oriented towards the Earth and the Sun using the onboard propulsion system. The satellite is in good health.
In the coming five days, orbit raising maneuvers will be performed to place the satellite in the Geostationary Orbit with required inclination with reference to the equator. The satellite will be moved to the Geostationary Orbit (36,000 km above the equator) by using the satellite propulsion system in a three step approach.
After the completion of orbit raising operations, the two solar panels and both the dual gridded antenna reflectors of GSAT-10 will be deployed for further tests and operations. It is planned to experimentally turn on the communication payloads in the second week of October 2012.
After the successful completion of all in-orbit tests, GSAT-10 will be ready for operational use by November 2012. GSAT-10 will be positioned at 83deg East orbital location along with INSAT-4A and GSAT-12. The operational life of GSAT-10 is expected to be 15 years nominal.
GSAT-10 Satellite has 30 Communication Transponders [12 in Ku-band, 12 in C-band and 6 in Extended C-Band]. Besides, it has a Navigation payload "GAGAN" that would provide GPS signals of improved accuracy (of better than 7 meters) to be used by the Airports Authority of India for Civil Aviation requirements. GSAT-10 is the second satellite in INSAT/GSAT constellation with GAGAN payload after GSAT-8, launched in May 2011.
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