New Delhi: India and Vietnam have signed a memorandum of understanding (MoU) for identifying thrust areas and opportunities, and developing institutional framework for micro, small and medium enterprises (MSME) in Vietnam.
Ministry of Planning and Investment of Vietnam and India's Ministry of MSME have signed the MoU during the ongoing four day state visit of Mr Hamid Ansari, Vice President of India to Vietnam.
The MoU also aims at promotion of partnership projects and institutional cooperation between the two countries, organising trade fairs and exhibitions for marketing the products of MSME, exchange of business missions to initiate transfer of technology and business alliance, and providing training for improvement of managerial and technical skills for MSME. It is a part of India’s efforts to further strengthen economic ties with Vietnam.
India and Vietnam have set a bilateral trade and investment target of US$ 7 billion by 2015. A Joint Committee has been set up by Ministries of both the countries to monitor the implementation of the MoU
Success in my Habit
Friday, January 18, 2013
Tuesday, January 15, 2013
Hero MotoCorp begins work on Rajasthan plant
New Delhi: Two-wheeler manufacturer Hero MotoCorp (HMCL) on Monday said it has started construction of its fourth manufacturing plant and a new Global Parts Centre (GPC) at Neemrana, in Rajasthan.
The company will invest Rs 550 crore in setting up this plant and the GPC. Both facilities are expected to be operational towards the end of financial year 2013-14, it said.
“The commencement of work on the new plant is indicative of our intention and strategy for the future. We foresee a revival in market sentiment sooner than later and, when it happens, we will be ready to meet the upsurge in demand,” Pawan Munjal, Managing Director and Chief Executive Officer, HMCL, said.
The Neemrana plant, spread over 47 acres, will provide direct employment to over 1000 people, and have an installed capacity of 7.50 lakh units per annum.
“At the same time, we will be setting up a modern GPC spread over 35 acres at Neemrana,” he said.
The Global Parts Centre is expected to be operational in the third quarter of the next financial year (2013-14) and will initially employ 400 people.
The GPC will have an automated storage and retrieval system, automated packaging and sorting systems, online tracking of parts using a warehouse management system, lean manufacturing systems and, importantly, the green building concept, Munjal added.
The company will invest Rs 550 crore in setting up this plant and the GPC. Both facilities are expected to be operational towards the end of financial year 2013-14, it said.
“The commencement of work on the new plant is indicative of our intention and strategy for the future. We foresee a revival in market sentiment sooner than later and, when it happens, we will be ready to meet the upsurge in demand,” Pawan Munjal, Managing Director and Chief Executive Officer, HMCL, said.
The Neemrana plant, spread over 47 acres, will provide direct employment to over 1000 people, and have an installed capacity of 7.50 lakh units per annum.
“At the same time, we will be setting up a modern GPC spread over 35 acres at Neemrana,” he said.
The Global Parts Centre is expected to be operational in the third quarter of the next financial year (2013-14) and will initially employ 400 people.
The GPC will have an automated storage and retrieval system, automated packaging and sorting systems, online tracking of parts using a warehouse management system, lean manufacturing systems and, importantly, the green building concept, Munjal added.
Apollo Tyres opens R&D centre in Netherlands
New Delhi: Apollo Tyres on Monday opened its global research and development (R&D) centre in Enschede, the Netherlands. It will serve as a hub for the development and testing of car and van tyres for all product brands — Apollo, Vredestein and Dunlop (32 countries in Africa) — of the company, it said.
Named Apollo Tyres Global R&D BV, the new centre will start operations with more than 100 people from various parts of the world, including 20 car tyre specialists from India and South Africa. It will later be scaled-up to nearly 150 people.
R&D Restructuring
“The Global R&D centre is an important milestone in our journey to become a $ 6 billion tyre company by 2016,” Onkar S. Kanwar, Chairman, Apollo Tyres said.
Recently, the company restructured its R&D team, across its three key geographies, to create synergy and greater alignment to the company’s growth aspirations.
Two Global Hubs
In line with this strategy, the company is bringing together its R&D resources comprising almost 250 people in Africa, Europe and India to create two global R&D hubs — Enschede, the Netherlands for car and van tyres and Chennai, for commercial vehicle tyres.
Both R&D departments will be in close contact with original equipment manufacturers and replacement clients, test centres, raw material suppliers and research institutes.
“Going forward, R&D will continue to be the cornerstone of our vision, as we plan to ramp up the R&D spend to 3 per cent of our sales revenue,” Neeraj Kanwar, Vice Chairman and Managing Director, Apollo Tyres said.
Named Apollo Tyres Global R&D BV, the new centre will start operations with more than 100 people from various parts of the world, including 20 car tyre specialists from India and South Africa. It will later be scaled-up to nearly 150 people.
R&D Restructuring
“The Global R&D centre is an important milestone in our journey to become a $ 6 billion tyre company by 2016,” Onkar S. Kanwar, Chairman, Apollo Tyres said.
Recently, the company restructured its R&D team, across its three key geographies, to create synergy and greater alignment to the company’s growth aspirations.
Two Global Hubs
In line with this strategy, the company is bringing together its R&D resources comprising almost 250 people in Africa, Europe and India to create two global R&D hubs — Enschede, the Netherlands for car and van tyres and Chennai, for commercial vehicle tyres.
Both R&D departments will be in close contact with original equipment manufacturers and replacement clients, test centres, raw material suppliers and research institutes.
“Going forward, R&D will continue to be the cornerstone of our vision, as we plan to ramp up the R&D spend to 3 per cent of our sales revenue,” Neeraj Kanwar, Vice Chairman and Managing Director, Apollo Tyres said.
India plans to develop a forecasting model for energy demand and supply
New Delhi: India plans to develop a forecasting model for energy demand and supply that will help in policy decisions. The model, on the lines of UK's Energy Calculator 2050, will be available to industry and researchers.
"The proposal has in-principle approval of the Prime Minister and the task to set up a model is entrusted to Planning Commission," a senior government official said.
Apart from India, China is also in talks with UK's Department of Energy and Climate Change (DECC) to set up a similar model. "This will be the government's own energy model, which will provide energy pathways for four decades. This will provide effective tool for taking energy related policy decisions in an integrated manner," Planning Commission Adviser-Energy Anil K Jain said. The model will be handy to predict demand, supply and pricing more objectively and in a manner, which will help to optimize natural resources, he added.
Planning Commission is creating this energy model because the country has separate ministries and departments for different types of energy such as coal, power, petroleum, nuclear and renewable. It will also guide Indian negotiators in taking stand at international forums, especially on the climate change, he said.
Bangalore-based Center for Study of Science, Technology and Policy (CSTEP) is assisting Planning Commission in setting up the model. CSTEP's Chairman VS Arunachalam says that since GDP growth is dependent on energy supply, it is important to know how much energy India would need and how to meet the demand.
Currently, the Planning Commission's recommendations on energy are based on studies carried out with expert groups, but these often do not capture the changes in global energy scenarios and technological advances. Jain said almost all developed nations have their own energy models that help them in taking crucial policy decisions regarding demand, supply, pricing and utilization. US Energy Information Administration is one such model that keeps global energy data and has been a resource center for various countries including India.
"The proposal has in-principle approval of the Prime Minister and the task to set up a model is entrusted to Planning Commission," a senior government official said.
Apart from India, China is also in talks with UK's Department of Energy and Climate Change (DECC) to set up a similar model. "This will be the government's own energy model, which will provide energy pathways for four decades. This will provide effective tool for taking energy related policy decisions in an integrated manner," Planning Commission Adviser-Energy Anil K Jain said. The model will be handy to predict demand, supply and pricing more objectively and in a manner, which will help to optimize natural resources, he added.
Planning Commission is creating this energy model because the country has separate ministries and departments for different types of energy such as coal, power, petroleum, nuclear and renewable. It will also guide Indian negotiators in taking stand at international forums, especially on the climate change, he said.
Bangalore-based Center for Study of Science, Technology and Policy (CSTEP) is assisting Planning Commission in setting up the model. CSTEP's Chairman VS Arunachalam says that since GDP growth is dependent on energy supply, it is important to know how much energy India would need and how to meet the demand.
Currently, the Planning Commission's recommendations on energy are based on studies carried out with expert groups, but these often do not capture the changes in global energy scenarios and technological advances. Jain said almost all developed nations have their own energy models that help them in taking crucial policy decisions regarding demand, supply, pricing and utilization. US Energy Information Administration is one such model that keeps global energy data and has been a resource center for various countries including India.
Canada seeks comprehensive economic pact with India
New Delhi: Canada wants an "ambitious" Comprehensive Economic Partnership Agreement (CEPA) with India, Canadian High Commissioner to India Stewart Beck said here on Monday.
Addressing a seminar, the envoy said the agreement should ensure maximum movement of people apart from giving the best possible rates for Canadian goods. He added that Canada could also bring capital to India. The envoy hoped that the foreign investment agreement would help both countries. "This is something which will also help Indian investments in Canada," the envoy said.
In the field of education, Beck said the number of student visas issued to Indians had touched 13,000 last year from 3,000 in 2008.
Admitting that relations between the two countries were affected by some problems earlier, the envoy said the past has been buried.
Addressing a seminar, the envoy said the agreement should ensure maximum movement of people apart from giving the best possible rates for Canadian goods. He added that Canada could also bring capital to India. The envoy hoped that the foreign investment agreement would help both countries. "This is something which will also help Indian investments in Canada," the envoy said.
In the field of education, Beck said the number of student visas issued to Indians had touched 13,000 last year from 3,000 in 2008.
Admitting that relations between the two countries were affected by some problems earlier, the envoy said the past has been buried.
Government relaxes export norms for pharma grade and specialty sugar
New Delhi: The Government of India has liberalised the procedure for export of pharmaceutical grade sugar and specialty sugar.
“Export of pharmaceutical grade sugar and specialty sugar will not be required to be registered with Directorate General of Foreign Trade (DGFT), as per a notification released by the Ministry of Commerce.
The pharmaceutical grade sugar include sucrose, and specialty sugar include candy sugar, castor sugar, icing sugar, light brown sugar, rainbow sugar, sugar cubes and sugar sachets (white and brown). These varieties will not require registration, it highlighted.
However, other type of sugar export will require registration with the DGFT.
“Export of pharmaceutical grade sugar and specialty sugar will not be required to be registered with Directorate General of Foreign Trade (DGFT), as per a notification released by the Ministry of Commerce.
The pharmaceutical grade sugar include sucrose, and specialty sugar include candy sugar, castor sugar, icing sugar, light brown sugar, rainbow sugar, sugar cubes and sugar sachets (white and brown). These varieties will not require registration, it highlighted.
However, other type of sugar export will require registration with the DGFT.
Gail commissions 5 million tonne LNG terminal at Dabhol, plans to double its capacity by 2016
New Delhi: Gail India has commissioned the 5 million tonne capacity liquefied natural gas (LNG) terminal at Dabhol facility in Maharashtra and plans to double its capacity by 2016 in a phased manner, state gas utility chairman BC Tripathi said.
Gail had imported a shipload of LNG for commissioning the Dabhol terminal in March last year but the operations had to be aborted midway after two successive equipment failures.
"The Dabhol terminal will serve as a gateway for entry of natural gas to the southern and western parts of the country," Tripathi said. The company is planning to import about half a dozen LNG cargoes in next three-four months, he said.
The first cargo is expected to arrive at the terminal from Russia by the end of this month.
Gail has long-term LNG import contract with Russian energy major Gazprom. Tripathi said the focus of the company is to complete construction of break-water facility, which will help in expanding the terminal's capacity to 7.5 mmtpa in next two years and finally to 10 mmtpa in 2016.
The terminal is operated by Ratnagiri Gas and Power Private limited (RGPPL), a joint venture of Gail and state power utility NTPC. India is focusing on import of gas as it has faced a steep fall in domestic output.
The country has two operational terminals at Dahej and Hazira. "Commissioning of Dabhol terminal at this crucial juncture shall facilitate higher volumes of LNG imports for securing energy for the country," Tripathi said. Gail expects that the break-water facility will be completed this financial year. The company had mechanically completed the terminal two years ago.
Gail had imported a shipload of LNG for commissioning the Dabhol terminal in March last year but the operations had to be aborted midway after two successive equipment failures.
"The Dabhol terminal will serve as a gateway for entry of natural gas to the southern and western parts of the country," Tripathi said. The company is planning to import about half a dozen LNG cargoes in next three-four months, he said.
The first cargo is expected to arrive at the terminal from Russia by the end of this month.
Gail has long-term LNG import contract with Russian energy major Gazprom. Tripathi said the focus of the company is to complete construction of break-water facility, which will help in expanding the terminal's capacity to 7.5 mmtpa in next two years and finally to 10 mmtpa in 2016.
The terminal is operated by Ratnagiri Gas and Power Private limited (RGPPL), a joint venture of Gail and state power utility NTPC. India is focusing on import of gas as it has faced a steep fall in domestic output.
The country has two operational terminals at Dahej and Hazira. "Commissioning of Dabhol terminal at this crucial juncture shall facilitate higher volumes of LNG imports for securing energy for the country," Tripathi said. Gail expects that the break-water facility will be completed this financial year. The company had mechanically completed the terminal two years ago.
InMobi acquires UK firm Overlay Media
Mumbai: Leading mobile advertising network InMobi has acquired UK-based mobile data analytics start-up and content aware computing firm Overlay Media for an undisclosed amount.
Overlay Media, which comprises a team of data scientists, has built the context engine technology to deliver personalised content to mobile users.
“This acquisition will help us to continue to be at the forefront of delivering highly engaging content to consumers globally,” said Naveen Tewari, Founder and CEO, InMobi.
The Bangalore and San-Francisco based mobile technology company enables the world’s leading brands, developers, and publishers to engage 578 million consumers across 165 countries globally.
It is backed by investors including SoftBank, Kleiner Perkins Caufield and Byers and Sherpalo Ventures.
Meanwhile, Ian Anderson, CEO, Overlay Media, said: “Our goal has been to develop technology that enables mobile devices to provide a highly personal and immersive user experience. Through this acquisition, we will further strengthen our position as a market leader in mobile advertising.”
The Overlay Media team will be based at the InMobi London office. The company has offices in India, the UK and the US, as well as in other global locations. It recently expanded its footprint in Asia, Europe and Australia.
InMobi has also acquired Metaflow Solutions, a UK-based mobile app management and distribution solutions company, and a US-based start-up MMTG Labs that makes ad software.
Overlay Media, which comprises a team of data scientists, has built the context engine technology to deliver personalised content to mobile users.
“This acquisition will help us to continue to be at the forefront of delivering highly engaging content to consumers globally,” said Naveen Tewari, Founder and CEO, InMobi.
The Bangalore and San-Francisco based mobile technology company enables the world’s leading brands, developers, and publishers to engage 578 million consumers across 165 countries globally.
It is backed by investors including SoftBank, Kleiner Perkins Caufield and Byers and Sherpalo Ventures.
Meanwhile, Ian Anderson, CEO, Overlay Media, said: “Our goal has been to develop technology that enables mobile devices to provide a highly personal and immersive user experience. Through this acquisition, we will further strengthen our position as a market leader in mobile advertising.”
The Overlay Media team will be based at the InMobi London office. The company has offices in India, the UK and the US, as well as in other global locations. It recently expanded its footprint in Asia, Europe and Australia.
InMobi has also acquired Metaflow Solutions, a UK-based mobile app management and distribution solutions company, and a US-based start-up MMTG Labs that makes ad software.
Turkish glass major acquires 45% stake in HNGFL
Kolkata: Turkish Glass maker Trakya Cam Snayii AS bought a 45 per cent stake in HNG Float Glass Limited (HNGFL) through a joint Venture (JV) agreement on Friday.
According to the JV, Hindustan National Glass and Industries (HNGIL), the share-holding company in HNGFL and its promoter, the Somany family, will now dilute their stake in HNGFL.
Currently, HNGIL and the Somany family hold 47.4 per cent and 40.2 per cent stake in HNGFL, respectively and the remaining 12 per cent is held by IFC Washington.
Post-JV, Trakya Cam Snayii AS will become an equal shareholder in HNGFL for an undisclosed amount. IFC Washington will continue to hold 10 per cent stake (about 10 per cent of the increased paid up capital). The share-holding of HNGIL will stand diluted from the present 47.4 per cent to 15 per cent.
When contacted, HNGIL chairman C K Somany refused to comment on the value paid by the Turkish glass maker for this JV.
HNGIL is one of India’s leading glass manufacturers, with a total production capacity of 4,300 tonnes per day. It had promoted HNGFL in 2006. Trakya Cam Sanayii AS, which was founded by Sisecam in 1978, is the leading company in the flat glass market in Turkey and a pioneer in the region. The company reached $751 million net sales with 2,768 employees in FY 2011.
Trakya Cam Sanayii AS had taken a strategic step in 2009 with the decision to jointly develop its flat glass activities with Saint-Gobain, one of the biggest companies in the industry.
HNGFL is engaged in the business of manufacturing float glass and related value added float glass products.
The company’s plant is located in Halol, Gujarat with the current capacity of the furnace being 600 tonnes per day.
According to the JV, Hindustan National Glass and Industries (HNGIL), the share-holding company in HNGFL and its promoter, the Somany family, will now dilute their stake in HNGFL.
Currently, HNGIL and the Somany family hold 47.4 per cent and 40.2 per cent stake in HNGFL, respectively and the remaining 12 per cent is held by IFC Washington.
Post-JV, Trakya Cam Snayii AS will become an equal shareholder in HNGFL for an undisclosed amount. IFC Washington will continue to hold 10 per cent stake (about 10 per cent of the increased paid up capital). The share-holding of HNGIL will stand diluted from the present 47.4 per cent to 15 per cent.
When contacted, HNGIL chairman C K Somany refused to comment on the value paid by the Turkish glass maker for this JV.
HNGIL is one of India’s leading glass manufacturers, with a total production capacity of 4,300 tonnes per day. It had promoted HNGFL in 2006. Trakya Cam Sanayii AS, which was founded by Sisecam in 1978, is the leading company in the flat glass market in Turkey and a pioneer in the region. The company reached $751 million net sales with 2,768 employees in FY 2011.
Trakya Cam Sanayii AS had taken a strategic step in 2009 with the decision to jointly develop its flat glass activities with Saint-Gobain, one of the biggest companies in the industry.
HNGFL is engaged in the business of manufacturing float glass and related value added float glass products.
The company’s plant is located in Halol, Gujarat with the current capacity of the furnace being 600 tonnes per day.
MoUs worth Rs 1.34 lakh crore signed in affordable housing sector
Ahmedabad: The affordable housing and construction industry witnessed signing of memorandum of understandings ( MoUs) to the tune of Rs 1.34 lakh crore, by both domestic and global players.
Eight MoUs were signed for various verticals in housing and construction, including affordable housing technology, pre-cast construction technology and slum rehabilitation.
In affordable urban housing technology segment, while US-based Hawthorne Development Corporation signed an MoU worth Rs 1 lakh crore with the Gujarat government, Tata Housing Development Company Ltd signed for Rs 3,500 crore.
Global players like Elematic of Finland and Spiroll Precast Services Ltd of the US signed MoUs for providing pre-cast technology in cost-effective and efficient housing construction for Rs 15,000 crore and Rs 5,000 crore, respectively.
Domestic players like M V Omni Projects (India) Ltd and Sheetal Infrastructure Pvt Ltd signed MoUs worth Rs 3,000 crore and Rs 1,000 crore, respectively, in the area of slum rehabilitation.
Ahmedabad-based real estate developer Bakeri Urban Development Pvt Ltd also announced investment commitment of Rs 1,500 crore in the affordable housing sector.
In a bid to provide free housing schemes for differently-abled people, Ahmedabad-based Sankalp Disable Association signed an MoU worth Rs 5,592 crore.
Eight MoUs were signed for various verticals in housing and construction, including affordable housing technology, pre-cast construction technology and slum rehabilitation.
In affordable urban housing technology segment, while US-based Hawthorne Development Corporation signed an MoU worth Rs 1 lakh crore with the Gujarat government, Tata Housing Development Company Ltd signed for Rs 3,500 crore.
Global players like Elematic of Finland and Spiroll Precast Services Ltd of the US signed MoUs for providing pre-cast technology in cost-effective and efficient housing construction for Rs 15,000 crore and Rs 5,000 crore, respectively.
Domestic players like M V Omni Projects (India) Ltd and Sheetal Infrastructure Pvt Ltd signed MoUs worth Rs 3,000 crore and Rs 1,000 crore, respectively, in the area of slum rehabilitation.
Ahmedabad-based real estate developer Bakeri Urban Development Pvt Ltd also announced investment commitment of Rs 1,500 crore in the affordable housing sector.
In a bid to provide free housing schemes for differently-abled people, Ahmedabad-based Sankalp Disable Association signed an MoU worth Rs 5,592 crore.
Subscribe to:
Posts (Atom)