New Delhi: Aided by a rebound in capital goods production, the country’s industrial output grew a better-than-expected 2.6 per cent in July compared with the same period last year. This was a four-month high.
This brings some cheer to an economy that was slowing down with the Index of Industrial Production contracting in the two months before July, the rupee sliding sharply against the US dollar, and the current account/fiscal deficits widening. A marginally lower retail inflation in August, at 9.52 per cent against 9.64 per cent in July, also improved the sentiment.
However, the new data — released on Thursday after market hours — may not be compelling enough for the Reserve Bank of India to reduce repo rates in its monetary policy review on September 20, say economy watchers.
Meanwhile, the IIP for June contracted only 1.78 per cent and not 2.2 per cent, as provisionally reported. It contracted by 2.8 per cent in May.
Under the use-based classification, capital goods output grew 15.6 per cent (-5.8 per cent) and consumer goods contracted 0.9 per cent. While basic goods output grew 1.7 per cent (one per cent), intermediate goods recorded a growth of 2.4 per cent (0.1 per cent).
On a sectoral basis, the IIP performance was buoyed by improved manufacturing output and electricity generation. While manufacturing grew three per cent in July, electricity generation was up 5.2 per cent (2.8 per cent).
Reacting to the IIP data, Federation of Indian Chambers of Commerce and Industry (FICCI) and Confederation of Indian Industry (CII) welcomed the return of industrial growth.
While the new data mark a break from the past two months, which saw output contracting, it is too early to presume that a recovery is under way, said Chandrajit Banerjee, Director-General, CII.
Didar Singh, Secretary-General, FICCI, hoped the manufacturing sector will be able to achieve higher growth in the next few months backed by festival demand and improved exports. Banerjee said the IIP data would buoy sentiments.
Sentiments should also improve with positive news emerging from the US and Euro Zone, as also owing to the expected good performance in the domestic agricultural sector, he added.
Success in my Habit
Friday, September 13, 2013
Japan India Chalk Out Roadmap for Investment in Export Led Manufacturing
New Delhi: India and Japan yesterday charted out a roadmap to boost investment between the two countries. In a meeting headed by the Union Minister of Commerce & Industry Shri Anand Sharma and Mr. Toshimitsu Motegi, Minister of Economy, Trade and Industry, Japan, business leaders from both the countries were of a firm view that India’s growing economy and stable investment climate offer large opportunities for Japanese companies. “Our action plan focuses investment in export oriented manufacturing. Japan has shown tremendous interest that will lead not only foreign investment flows, bring in a culture of quality and high-end management practices in Indian industry along with creation and strengthening supply chains” said Shri Sharma at the meeting.
In order to make the business environment amiable, the Japanese side agreed to hold business matching activities for procurement of automobile parts and raw materials in Chennai and Pune this year. It will be organized by Japan External Trade Organization (JETRO) for further consolidation of supply chain networks between both the countries. The Japanese side will also hold Japan-India Energy Exhibition in 2013 by JETRO and New Energy and Industrial Technology Development Organization (NEDO) for business alliances in energy-saving sector. Same business matching exercise will be carried in the companies involved in creative industries.
For further enhancing cooperation with the Central and State Governments on investment promotion and facilitation, the Indian and Japanese side felt the need of the establishment of institutional mechanisms and frameworks for exchange of views on issues related to investment among Government of Japan, Indian and Japanese businesses, Ministry of Commerce and Industry and various State Governments. The business delegation of both the countries strongly urged for the promotion of dissemination of investment information related to both Central and State Governments including investment rules, regulations, policies and procedures. Acting on this, the Japanese side will provide information to Indian investors on all aspects of doing business in Japan, offer free temporary office space throughout Japan by JETRO, and receive any inquiries from Indian investors regarding investment in Japan to give assistance on individual case in cooperation with relevant ministries by JETRO. Apart from this, the Japanese side will also support Japanese small and medium enterprises' investment in India through the establishment of SME Overseas Business Support Platform in Mumbai and Chennai by JETRO from 2013.
The Japanese side will also support capacity enhancement of export supporting institutions such as Federation of Indian Export Organizations (FIEO) through JETRO. Both sides will also start industrial human resource development by utilising The Overseas Human Resources and Industry Development Association (HIDA) programmes to develop and upgrade skills and promote investments in India's manufacturing sector.
Both sides will promote investment in India by Japanese companies which will enable these companies to export from India to neighbouring countries including countries in Indian Ocean Rim Association for Regional Cooperation (IOR-ARC).
The Indian and Japanese business leaders also sensed the need to establish one-stop investment centres in the respective countries to provide assistance and advisory services to the business sectors including information on regulatory regimes, incentives, infrastructure and facilitation of operating licenses and permits.
Shri Sharma further stressed on the fact that although there has been increasing flow of Japanese investments over the last five years, it is still much below the potential that exists between our two countries. “There are huge opportunities for investment in sectors like infrastructure including investments in DMIC region; power; metals; renewable energy; manufacturing; automobiles and auto parts; agro processing and food processing; Electronics Hardware Manufacturing (EHM) and creative industries,” said Shri Sharma.
The presence of Japanese companies in India has increased from 555 sites in 2008 to 1422 sites in 2011 and is expected to reach 2500 sites by 2015. Japan has partnered India in several high-key, high-value, high-priority projects like the Western Dedicated Freight Corridor Project and the Delhi-Mumbai Industrial Corridor Project. From April 2005 to March 2013, the cumulative Indian investments into Japan are around USD 371.46 million. While, on the other hand, according to JETRO, Japanese investments in India are around USD 15.93 billion inclusive of FDI as well as portfolio investment and M&A.
In order to make the business environment amiable, the Japanese side agreed to hold business matching activities for procurement of automobile parts and raw materials in Chennai and Pune this year. It will be organized by Japan External Trade Organization (JETRO) for further consolidation of supply chain networks between both the countries. The Japanese side will also hold Japan-India Energy Exhibition in 2013 by JETRO and New Energy and Industrial Technology Development Organization (NEDO) for business alliances in energy-saving sector. Same business matching exercise will be carried in the companies involved in creative industries.
For further enhancing cooperation with the Central and State Governments on investment promotion and facilitation, the Indian and Japanese side felt the need of the establishment of institutional mechanisms and frameworks for exchange of views on issues related to investment among Government of Japan, Indian and Japanese businesses, Ministry of Commerce and Industry and various State Governments. The business delegation of both the countries strongly urged for the promotion of dissemination of investment information related to both Central and State Governments including investment rules, regulations, policies and procedures. Acting on this, the Japanese side will provide information to Indian investors on all aspects of doing business in Japan, offer free temporary office space throughout Japan by JETRO, and receive any inquiries from Indian investors regarding investment in Japan to give assistance on individual case in cooperation with relevant ministries by JETRO. Apart from this, the Japanese side will also support Japanese small and medium enterprises' investment in India through the establishment of SME Overseas Business Support Platform in Mumbai and Chennai by JETRO from 2013.
The Japanese side will also support capacity enhancement of export supporting institutions such as Federation of Indian Export Organizations (FIEO) through JETRO. Both sides will also start industrial human resource development by utilising The Overseas Human Resources and Industry Development Association (HIDA) programmes to develop and upgrade skills and promote investments in India's manufacturing sector.
Both sides will promote investment in India by Japanese companies which will enable these companies to export from India to neighbouring countries including countries in Indian Ocean Rim Association for Regional Cooperation (IOR-ARC).
The Indian and Japanese business leaders also sensed the need to establish one-stop investment centres in the respective countries to provide assistance and advisory services to the business sectors including information on regulatory regimes, incentives, infrastructure and facilitation of operating licenses and permits.
Shri Sharma further stressed on the fact that although there has been increasing flow of Japanese investments over the last five years, it is still much below the potential that exists between our two countries. “There are huge opportunities for investment in sectors like infrastructure including investments in DMIC region; power; metals; renewable energy; manufacturing; automobiles and auto parts; agro processing and food processing; Electronics Hardware Manufacturing (EHM) and creative industries,” said Shri Sharma.
The presence of Japanese companies in India has increased from 555 sites in 2008 to 1422 sites in 2011 and is expected to reach 2500 sites by 2015. Japan has partnered India in several high-key, high-value, high-priority projects like the Western Dedicated Freight Corridor Project and the Delhi-Mumbai Industrial Corridor Project. From April 2005 to March 2013, the cumulative Indian investments into Japan are around USD 371.46 million. While, on the other hand, according to JETRO, Japanese investments in India are around USD 15.93 billion inclusive of FDI as well as portfolio investment and M&A.
UltraTech buys Jaypee Cement’s Gujarat unit for Rs 3,800 cr
Mumbai: UltraTech Cement, an Aditya Birla Group Company, has acquired the 4.8-million tonne per annum (mtpa) Gujarat unit of Jaypee Cement Corporation, for Rs 3,800 crore.
As part of the deal, UltraTech will take over debt of Rs 3,650 crore. It will issue equity worth Rs 150 crore, with the fresh issue resulting in dilution of no more than 0.32 per cent of its capital. The deal is expected to be closed in eight-nine months.
The Gujarat unit of Jaypee Cement has a 57-MW coal-based power plant with a 30-MW DG (diesel generator) back-up, limestone reserves sufficient to run the plant at current capacity for 90 years and a captive jetty at Sewagram. The valuation of the plant works out to $124 a tonne with the rupee valued at 64 against the dollar.
For Jaypee Associates, this may be only the first of the moves to prune the Rs 60,000-crore debt it carried on its books as of March this year.
The acquisition will raise UltraTech’s capacity to 59 million tonne. With new expansion plans in Karnataka, Rajasthan and Madhya Pradesh set to go on stream by 2015, UltraTech’s capacity is expected to touch 70 mtpa.
UltraTech will also benefit from the Rs 350-380 crore unrealised depreciation and tax set-off against the losses incurred by Jaypee Cement.
Of the total debt of Rs 3,650 crore, UltraTech plans to finance Rs 1,650 crore through internal accruals and renegotiate a lower rate for the remaining debt of Rs 2,000 crore.
Kumar Mangalam Birla, Chairman, UltraTech Cement, said the company intends to regain much of the market share it lost through the sale of its earlier asset Digvijay Cement in Gujarat.
“We are targeting the entire coastal markets including Mumbai, Mangalore and Kochi besides Sri Lanka where the company has a grinding unit. Our plant in Saurashtra operates at 95 per cent capacity,” he said.
UltraTech has already identified savings of Rs 40 crore through operational synergy with its existing plant in Saurashtra and the acquired plant in Kutch, increasing capacity utilisation of the Kutch unit and entering new markets.
On why the 5-mtpa Andhra Pradesh plant of Jaypee was left out of the deal, Birla said currently the cement supply in the southern market was much higher than demand. This apart, he said, UltraTech recently commissioned a 4.8-mtpa capacity in Tadapatri.
Kailash Birla, Chief Financial Officer, UltraTech Cement, said the acquisition will help the company realise logistics gains by shifting some of the transportation from road to sea route. It will turn value accretive in three years, he said.
As part of the deal, UltraTech will take over debt of Rs 3,650 crore. It will issue equity worth Rs 150 crore, with the fresh issue resulting in dilution of no more than 0.32 per cent of its capital. The deal is expected to be closed in eight-nine months.
The Gujarat unit of Jaypee Cement has a 57-MW coal-based power plant with a 30-MW DG (diesel generator) back-up, limestone reserves sufficient to run the plant at current capacity for 90 years and a captive jetty at Sewagram. The valuation of the plant works out to $124 a tonne with the rupee valued at 64 against the dollar.
For Jaypee Associates, this may be only the first of the moves to prune the Rs 60,000-crore debt it carried on its books as of March this year.
The acquisition will raise UltraTech’s capacity to 59 million tonne. With new expansion plans in Karnataka, Rajasthan and Madhya Pradesh set to go on stream by 2015, UltraTech’s capacity is expected to touch 70 mtpa.
UltraTech will also benefit from the Rs 350-380 crore unrealised depreciation and tax set-off against the losses incurred by Jaypee Cement.
Of the total debt of Rs 3,650 crore, UltraTech plans to finance Rs 1,650 crore through internal accruals and renegotiate a lower rate for the remaining debt of Rs 2,000 crore.
Kumar Mangalam Birla, Chairman, UltraTech Cement, said the company intends to regain much of the market share it lost through the sale of its earlier asset Digvijay Cement in Gujarat.
“We are targeting the entire coastal markets including Mumbai, Mangalore and Kochi besides Sri Lanka where the company has a grinding unit. Our plant in Saurashtra operates at 95 per cent capacity,” he said.
UltraTech has already identified savings of Rs 40 crore through operational synergy with its existing plant in Saurashtra and the acquired plant in Kutch, increasing capacity utilisation of the Kutch unit and entering new markets.
On why the 5-mtpa Andhra Pradesh plant of Jaypee was left out of the deal, Birla said currently the cement supply in the southern market was much higher than demand. This apart, he said, UltraTech recently commissioned a 4.8-mtpa capacity in Tadapatri.
Kailash Birla, Chief Financial Officer, UltraTech Cement, said the acquisition will help the company realise logistics gains by shifting some of the transportation from road to sea route. It will turn value accretive in three years, he said.
US-based Endurance in pact to buy Directi Web for $110 m
Mumbai: Endurance International Group, a US-based provider of cloud-based solutions, has signed an agreement to acquire Directi Web Technology Pvt Ltd for about $100-110 million (Rs 630-693 crore).
Cash & shares
Under the agreement, Endurance International would pay in cash or a combination of cash and shares (based on the seller), according to a filing with the US market regulator Securities and Exchange Commission.
The acquisition is expected to close by the fourth quarter of 2013, it said.
Endurance International, a company controlled by investment firms Warburg Pincus and Goldman Sachs, has already paid $5 million to Directi Holdings (holding company for Directi Web Technology). This would be credited against the acquisition or refunded if the deal fails to go through, it said.
Endurance will pay around half of the total price in cash at the closing of the acquisition.
The Mumbai-based Directi is a Web products development company, founded by Bhavin Turakhia, who now heads the company as its Chairman and Chief Executive Officer. Turakhia, along with his brother Diyank, had set up the company in 1998 with an investment of Rs 25,000.
Business Line could not immediately reach Turakhia for comments.
IPO plan
Endurance is also planning to raise about $400 million through an initial public offering. The company has also filed the initial papers with the US market regulator.
The proceeds from IPO would be used to close the “proposed acquisition of Directi”, apart from repaying debt, the Massachusetts- headquartered company said in the filing.
“We intend to use the balance of our net proceeds of this offering for working capital and other general corporate purposes, which may include the acquisition of other complementary products, technologies or businesses,” it added.
Directi, which provides Web presence solutions to small and medium business in India, the US, Turkey, China, Russia and Indonesia, now employs more than 1,000 personnel. It has more than one million customers across the world.
Product porfolio
The product portfolio of various Directi businesses includes communication and collaboration applications, social networking software, instant messaging, context analysis engines, anti-spam and antivirus solutions among others.
Endurance, founded in 1997 by Indian-origin Hari Ravichandran, owns a slew of online sites such as Domain.com, iPage and HostGator.com among others.
Cash & shares
Under the agreement, Endurance International would pay in cash or a combination of cash and shares (based on the seller), according to a filing with the US market regulator Securities and Exchange Commission.
The acquisition is expected to close by the fourth quarter of 2013, it said.
Endurance International, a company controlled by investment firms Warburg Pincus and Goldman Sachs, has already paid $5 million to Directi Holdings (holding company for Directi Web Technology). This would be credited against the acquisition or refunded if the deal fails to go through, it said.
Endurance will pay around half of the total price in cash at the closing of the acquisition.
The Mumbai-based Directi is a Web products development company, founded by Bhavin Turakhia, who now heads the company as its Chairman and Chief Executive Officer. Turakhia, along with his brother Diyank, had set up the company in 1998 with an investment of Rs 25,000.
Business Line could not immediately reach Turakhia for comments.
IPO plan
Endurance is also planning to raise about $400 million through an initial public offering. The company has also filed the initial papers with the US market regulator.
The proceeds from IPO would be used to close the “proposed acquisition of Directi”, apart from repaying debt, the Massachusetts- headquartered company said in the filing.
“We intend to use the balance of our net proceeds of this offering for working capital and other general corporate purposes, which may include the acquisition of other complementary products, technologies or businesses,” it added.
Directi, which provides Web presence solutions to small and medium business in India, the US, Turkey, China, Russia and Indonesia, now employs more than 1,000 personnel. It has more than one million customers across the world.
Product porfolio
The product portfolio of various Directi businesses includes communication and collaboration applications, social networking software, instant messaging, context analysis engines, anti-spam and antivirus solutions among others.
Endurance, founded in 1997 by Indian-origin Hari Ravichandran, owns a slew of online sites such as Domain.com, iPage and HostGator.com among others.
TCS is now second among world’s most valuable IT firms
Mumbai: After the recent rally in its stock price, Tata Consultancy Services (TCS) is now the world’s second-most-valuable IT services company — ahead of Accenture and Hewlett-Packard but behind IBM.
The Indian firm is currently valued at around $60 billion, compared with Accenture’s $50.5 billion and HP’s $43 billion. IBM remains the leader, with a market capitalisation of $202.6 billion as at the end of Monday’s trading (see table).
TCS, which accounted for nearly 47 per cent of the IT industry’s combined market cap and nearly four-fifths of the total net profit of listed IT companies on the BSE-500 index last financial year, is miles ahead of its Indian peers. Five years ago, the company accounted for 28 per cent of the total market capitalisation of the IT industry.
Analysts attribute this to TCS’ superior valuation on the bourses. “Investors are willing to pay a premium for TCS, as it has consistently been among the fastest-growing firms in the sector. Besides, it has been able to maintain its profitability ratios despite macroeconomic challenges,” says Shashi Bhushan, senior research analyst (institutional equities), Prabhudas Lilladher.
These factors seem to have made TCS one of the most expensive technology companies in the world at present, with its market valuation much higher than its revenue and profitability. The company has traded at around 27 times its net profits over the past 12 months. In comparison, Accenture, TCS’ closest global rival, trades at around 17 times its latest earnings per share, while IBM trades at 12.4 times (see table).
In the past three years, TCS’ revenues have seen a compound annual growth rate (CAGR) of 28.4 per cent, while its profits have grown at 26 per cent during the period. In comparison, both Accenture (nine per cent) and IBM (three per cent) have grown in single digits.
A higher valuation doesn’t directly benefit the company but experts say it has indirect benefits, such as a bigger global profile and greater attention from large global institutional investors looking for bigger and safer companies for long-term investments. “This will help TCS attract top-notch global investors and provide stability to the stock in times of volatility,” Indirectly, this may improve TCS’ profile among its target clientele of the world’s leading companies and business leaders and help it grow faster.
Analysts expect TCS to maintain the growth momentum and close the gap with its bigger global rivals. “TCS is one of the fastest-growing IT services companies globally and we expect it to maintain the current growth momentum,” says Angel Broking Research Analyst Ankita Somani, who has a buy rating on the stock.
She attributes TCS’ success to its execution capability and its wide presence in key geographies. “The company was one the first to recognise the importance of having a global footprint and it scaled up its geographical presence quite rapidly. It is now reaping the benefits,” she says.
It allowed TCS to diversify its revenue streams and grow faster when key markets in North America and Europe slipped into recession after the 2008 global financial crisis. North America, the traditional big market for India’s IT exporters accounted for 52 per cent of TCS’ revenues in 2012-13 — and a fifth of the revenues came from fast-growing emerging markets in Latin America, Asia-Pacific (including India and West Asia) and Africa. The rest was accounted for by the UK — its second-largest market — and continental Europe. Its wide spread makes it one of the most diversified technology companies in India in terms of geographical footprint.
TCS is already one of the world’s largest employers in its segment, with nearly 280,000 employees as at the end of June this year. In comparison, Accenture has an employee strength of 266,000. TCS, however, trails IBM, which remains the largest IT company with a staff of 430,000 at the end of last calendar year.
In terms of revenue earned per employee, however, TCS’ global peers are ahead. With similar headcount, Accenture’s revenues last year were nearly twice that of TCS, while IBM’s was nearly nine times more.
The Indian firm is currently valued at around $60 billion, compared with Accenture’s $50.5 billion and HP’s $43 billion. IBM remains the leader, with a market capitalisation of $202.6 billion as at the end of Monday’s trading (see table).
TCS, which accounted for nearly 47 per cent of the IT industry’s combined market cap and nearly four-fifths of the total net profit of listed IT companies on the BSE-500 index last financial year, is miles ahead of its Indian peers. Five years ago, the company accounted for 28 per cent of the total market capitalisation of the IT industry.
Analysts attribute this to TCS’ superior valuation on the bourses. “Investors are willing to pay a premium for TCS, as it has consistently been among the fastest-growing firms in the sector. Besides, it has been able to maintain its profitability ratios despite macroeconomic challenges,” says Shashi Bhushan, senior research analyst (institutional equities), Prabhudas Lilladher.
These factors seem to have made TCS one of the most expensive technology companies in the world at present, with its market valuation much higher than its revenue and profitability. The company has traded at around 27 times its net profits over the past 12 months. In comparison, Accenture, TCS’ closest global rival, trades at around 17 times its latest earnings per share, while IBM trades at 12.4 times (see table).
In the past three years, TCS’ revenues have seen a compound annual growth rate (CAGR) of 28.4 per cent, while its profits have grown at 26 per cent during the period. In comparison, both Accenture (nine per cent) and IBM (three per cent) have grown in single digits.
A higher valuation doesn’t directly benefit the company but experts say it has indirect benefits, such as a bigger global profile and greater attention from large global institutional investors looking for bigger and safer companies for long-term investments. “This will help TCS attract top-notch global investors and provide stability to the stock in times of volatility,” Indirectly, this may improve TCS’ profile among its target clientele of the world’s leading companies and business leaders and help it grow faster.
Analysts expect TCS to maintain the growth momentum and close the gap with its bigger global rivals. “TCS is one of the fastest-growing IT services companies globally and we expect it to maintain the current growth momentum,” says Angel Broking Research Analyst Ankita Somani, who has a buy rating on the stock.
She attributes TCS’ success to its execution capability and its wide presence in key geographies. “The company was one the first to recognise the importance of having a global footprint and it scaled up its geographical presence quite rapidly. It is now reaping the benefits,” she says.
It allowed TCS to diversify its revenue streams and grow faster when key markets in North America and Europe slipped into recession after the 2008 global financial crisis. North America, the traditional big market for India’s IT exporters accounted for 52 per cent of TCS’ revenues in 2012-13 — and a fifth of the revenues came from fast-growing emerging markets in Latin America, Asia-Pacific (including India and West Asia) and Africa. The rest was accounted for by the UK — its second-largest market — and continental Europe. Its wide spread makes it one of the most diversified technology companies in India in terms of geographical footprint.
TCS is already one of the world’s largest employers in its segment, with nearly 280,000 employees as at the end of June this year. In comparison, Accenture has an employee strength of 266,000. TCS, however, trails IBM, which remains the largest IT company with a staff of 430,000 at the end of last calendar year.
In terms of revenue earned per employee, however, TCS’ global peers are ahead. With similar headcount, Accenture’s revenues last year were nearly twice that of TCS, while IBM’s was nearly nine times more.
DMIC Trust Approves Nine Projects with Investment of Rs 1,20,000 Crore
New Delhi: DMIC Trust in its meeting held yesterday had approved nine projects with an investment of Rs. 1,20,000 crores from Central, State Governments and the private sectors. The meeting was chaired by Secretary, DEA Mr. Arvind Mayaram; Secretary, Department of Industrial Policy & Promotion, Mr. Saurabh Chandra, CEO & MD, DMICDC, Mr. Amitabh Kant and Joint Secretary, Expenditure, Mr. Saurabh Garg. These projects will drive the growth of manufacturing and bring in cutting edge technology from Japan. The projects will generate 2,15,000 direct jobs and 6,18,000 indirect jobs to the Indian economy. Details of the projects are given below:
1. Integrated Industrial Township ‘Vikram Udyogpuri’ Near Ujjain
‘Vikram Udyogpuri’ Project will have sustainable economic base primarily driven by industries (manufacturing) integrated with institutional (public and semi-public use) and supported by residential land use and commercial activities.
The site for the proposed ‘Vikram Udyogpuri’ is located about 8km from Ujjain and 12km from Dewas and has a total area of 443.79 Ha (1096.63 acres).
The township would consist of Automotive & Auto-Components, IT/ITeS and Engineering Services industries and educational institutions, supported by residential, commercial and other urban facilities including supporting social and physical infrastructure to boost the same.
The total revenue (direct & indirect) expected to be generated by the project is Rs. 1,20,600 crore by 2040.The project is expected to generate an employment of 78000 (direct and indirect) by 2040.
2. Integrated Multi Modal Logistic Hub, Rewari
The site is about 965 acres and is in Rewari district of Haryana and is adjacent to the proposed Western DFC to its North and NH-8 in the West near Garhi Bolni on NH-8. The project will handle 1.4 million TEUs and will have a total container handing in the range of Rs. 38000-40000 crores.
The IMLH will provide facilities for large, small and medium enterprises which will be benefitted from the proximity to the logistics hub. The site has provision for commercial office/retail space to cater to businesses like those of freight forwarders, operators, third-party logistics (3PL) companies, fourth-party logistics (4PL) companies, etc. Other supplementary facilities at the site comprise administration buildings, utility areas and greens.
3. Integrated Industrial Township at Greater Noida
The Integrated Industrial Township is an initiative of DMIC to drive manufacturing activity in the region in order to promote sustainable development. The township will act as a magnet to promote R&D activities, and will subsequently promote industrial development, in line with DMIC’s objective to promote industrial and manufacturing activities in the Dadri Noida Ghaziabad Investment Region (DNGIR).
Based upon historical and existing trends, inherent advantages of India and UP, existing status of the industry in the State, government policies, view of industry experts and potential investors, the Integrated Industrial Township is proposed with new age industry sectors such as Bio-technology, Hi-tech electronics industry, and Research and Development (R&D). The Integrated Industrial Township will also support in key sectors like telecom, electronics, automobile, food, pharmaceutical, healthcare, and defense research sector.
It has a total site area of 302.5 Ha (747.5 acres). The total project size is in the region of Rs. 33000 crores.
4. Integrated Multi Modal Logistic Hub at Greater Noida near Dadri
The MMLH has been planned in congruence with DMIC’s objective of creating strong economic base with a globally competitive environment and state-of-the-art infrastructure facilities. The proposed site of IMLH is a part of the delineated site for Dadri Noida Ghaziabad Investment Region (DNGIR) and is strategically located in close proximity to the point of congruence of the Western and Eastern DFC and also the proposed freight corridor of Eastern Peripheral Expressway.
The total area of 438.9 Ha has been earmarked for this project which includes area of 293.8 Ha which will be developed in Phase-1. The total investment in the project will be approximately Rs. 35000 crores.
5. Improvement of water supply system for Pithampur Industrial Area & Phase I of Pithampur- Dhar- Mhow Investment Region, Madhya Pradesh
The availability of 24x7 water supply at adequate pressure is essential for the development of the Pithampur-Dhar-Mhow Investment Region. The project will provide 90 MLD water from Narmada Kshripra Simhastha Link to meet the future water requirements of the Project area. The Project area includes Pithampur Industrial Area, Phase-I of Pithampur-Dhar-Mhow Investment Region, with major industrial development proposed in the vicinity such as the Diamond Park and Sonvaya Bhainslai Industrial Area. The Municipal areas of Pithampur and the Betma are also included in the Project Area.
Project cost is in the range of Rs. 300 to Rs. 320 crores.
6. Construction of New Rail Line from Bhimnath to Dholera Special Investment Region in Gujarat
Dholera Special Investment Region (DSIR) will be connected to Indian Railways network through a Bhimnath-Dholera new line and the existing Bhimnath-Botad MG rail link, converted to BG. Botad-Bhimnath (29.66) & Bhimnath-Dholera (27.60) sections will have a total length of about 57.26 km and will provide rail connectivity between DSIR and the rest of the country, including sea-ports.
The total cost of the project is approximately Rs. 250 crores.
7. Solar Power Project at Neemrana, Rajasthan
The Model Solar Power Project at Neemrana, Rajasthan is a unique initiative of the Delhi-Mumbai Industrial Corridor Project and has been conceived as the First Smart Micro-Grid Project in the country demonstrating the concept of integration of Solar Power with industrial Diesel Generator sets.
DMICDC in partnership with NEDO and HITACHI is setting up 6.00 MWp Solar Photovoltaic (PV) power project and 1 MW Diesel generator power projects in Neemrana Industrial Park, Japanese Zone, Neemrana, Rajasthan. The project will bring in cutting edge Japanese technology with invertor technology.
8. Water Desalination Project at Dahej, Gujarat
The Project envisages, desalinating seawater to make water available for industrial purpose and with the capacity of 336 Million Litre per day (MLD) and will be Asia’s largest desalination plant. Dahej is India’s fastest growing Industrial Region and is facing severe shortage of water. Any further industrialisation in the Dahej Industrial Region is subject to adequate availability of water. This is Asia’s largest Desalination Project with an outlay of Rs. 3600 crores. The project will be executed by HITACHI of Japan & Hyflux of Singapore. DMIC Trust will have 15 % equity into the project.
9. Logistic Data Bank Project for Tracking Container Cargo Movement on Integrated Basis
The project developed by NEC Corporation of Japan to address the issue of tracking and viewing the movement of containers across the ports to the ICDs and end users. The LDB would also provide value added services including comparative metric based analysis. This would enable the Government of India, State Governments, importers, exporters and other stakeholders to assess comparative performance; identify inefficiencies and bottlenecks to develop strategies to ensure the development of the sector.
The project will be implemented through a 50:50 JV between DMIC Trust and Japanese Agency NEC.
The LDB would be an overarching solution that will integrate the information available with various agencies across the supply chain to provide detailed real time information within a single window. LDB can help reduce the transportation lead-time by approximately 5 days which in turn would result in savings of USD 3.2 billion annually by 2017 by virtue of lesser Inventory being carried by the industry.
1. Integrated Industrial Township ‘Vikram Udyogpuri’ Near Ujjain
‘Vikram Udyogpuri’ Project will have sustainable economic base primarily driven by industries (manufacturing) integrated with institutional (public and semi-public use) and supported by residential land use and commercial activities.
The site for the proposed ‘Vikram Udyogpuri’ is located about 8km from Ujjain and 12km from Dewas and has a total area of 443.79 Ha (1096.63 acres).
The township would consist of Automotive & Auto-Components, IT/ITeS and Engineering Services industries and educational institutions, supported by residential, commercial and other urban facilities including supporting social and physical infrastructure to boost the same.
The total revenue (direct & indirect) expected to be generated by the project is Rs. 1,20,600 crore by 2040.The project is expected to generate an employment of 78000 (direct and indirect) by 2040.
2. Integrated Multi Modal Logistic Hub, Rewari
The site is about 965 acres and is in Rewari district of Haryana and is adjacent to the proposed Western DFC to its North and NH-8 in the West near Garhi Bolni on NH-8. The project will handle 1.4 million TEUs and will have a total container handing in the range of Rs. 38000-40000 crores.
The IMLH will provide facilities for large, small and medium enterprises which will be benefitted from the proximity to the logistics hub. The site has provision for commercial office/retail space to cater to businesses like those of freight forwarders, operators, third-party logistics (3PL) companies, fourth-party logistics (4PL) companies, etc. Other supplementary facilities at the site comprise administration buildings, utility areas and greens.
3. Integrated Industrial Township at Greater Noida
The Integrated Industrial Township is an initiative of DMIC to drive manufacturing activity in the region in order to promote sustainable development. The township will act as a magnet to promote R&D activities, and will subsequently promote industrial development, in line with DMIC’s objective to promote industrial and manufacturing activities in the Dadri Noida Ghaziabad Investment Region (DNGIR).
Based upon historical and existing trends, inherent advantages of India and UP, existing status of the industry in the State, government policies, view of industry experts and potential investors, the Integrated Industrial Township is proposed with new age industry sectors such as Bio-technology, Hi-tech electronics industry, and Research and Development (R&D). The Integrated Industrial Township will also support in key sectors like telecom, electronics, automobile, food, pharmaceutical, healthcare, and defense research sector.
It has a total site area of 302.5 Ha (747.5 acres). The total project size is in the region of Rs. 33000 crores.
4. Integrated Multi Modal Logistic Hub at Greater Noida near Dadri
The MMLH has been planned in congruence with DMIC’s objective of creating strong economic base with a globally competitive environment and state-of-the-art infrastructure facilities. The proposed site of IMLH is a part of the delineated site for Dadri Noida Ghaziabad Investment Region (DNGIR) and is strategically located in close proximity to the point of congruence of the Western and Eastern DFC and also the proposed freight corridor of Eastern Peripheral Expressway.
The total area of 438.9 Ha has been earmarked for this project which includes area of 293.8 Ha which will be developed in Phase-1. The total investment in the project will be approximately Rs. 35000 crores.
5. Improvement of water supply system for Pithampur Industrial Area & Phase I of Pithampur- Dhar- Mhow Investment Region, Madhya Pradesh
The availability of 24x7 water supply at adequate pressure is essential for the development of the Pithampur-Dhar-Mhow Investment Region. The project will provide 90 MLD water from Narmada Kshripra Simhastha Link to meet the future water requirements of the Project area. The Project area includes Pithampur Industrial Area, Phase-I of Pithampur-Dhar-Mhow Investment Region, with major industrial development proposed in the vicinity such as the Diamond Park and Sonvaya Bhainslai Industrial Area. The Municipal areas of Pithampur and the Betma are also included in the Project Area.
Project cost is in the range of Rs. 300 to Rs. 320 crores.
6. Construction of New Rail Line from Bhimnath to Dholera Special Investment Region in Gujarat
Dholera Special Investment Region (DSIR) will be connected to Indian Railways network through a Bhimnath-Dholera new line and the existing Bhimnath-Botad MG rail link, converted to BG. Botad-Bhimnath (29.66) & Bhimnath-Dholera (27.60) sections will have a total length of about 57.26 km and will provide rail connectivity between DSIR and the rest of the country, including sea-ports.
The total cost of the project is approximately Rs. 250 crores.
7. Solar Power Project at Neemrana, Rajasthan
The Model Solar Power Project at Neemrana, Rajasthan is a unique initiative of the Delhi-Mumbai Industrial Corridor Project and has been conceived as the First Smart Micro-Grid Project in the country demonstrating the concept of integration of Solar Power with industrial Diesel Generator sets.
DMICDC in partnership with NEDO and HITACHI is setting up 6.00 MWp Solar Photovoltaic (PV) power project and 1 MW Diesel generator power projects in Neemrana Industrial Park, Japanese Zone, Neemrana, Rajasthan. The project will bring in cutting edge Japanese technology with invertor technology.
8. Water Desalination Project at Dahej, Gujarat
The Project envisages, desalinating seawater to make water available for industrial purpose and with the capacity of 336 Million Litre per day (MLD) and will be Asia’s largest desalination plant. Dahej is India’s fastest growing Industrial Region and is facing severe shortage of water. Any further industrialisation in the Dahej Industrial Region is subject to adequate availability of water. This is Asia’s largest Desalination Project with an outlay of Rs. 3600 crores. The project will be executed by HITACHI of Japan & Hyflux of Singapore. DMIC Trust will have 15 % equity into the project.
9. Logistic Data Bank Project for Tracking Container Cargo Movement on Integrated Basis
The project developed by NEC Corporation of Japan to address the issue of tracking and viewing the movement of containers across the ports to the ICDs and end users. The LDB would also provide value added services including comparative metric based analysis. This would enable the Government of India, State Governments, importers, exporters and other stakeholders to assess comparative performance; identify inefficiencies and bottlenecks to develop strategies to ensure the development of the sector.
The project will be implemented through a 50:50 JV between DMIC Trust and Japanese Agency NEC.
The LDB would be an overarching solution that will integrate the information available with various agencies across the supply chain to provide detailed real time information within a single window. LDB can help reduce the transportation lead-time by approximately 5 days which in turn would result in savings of USD 3.2 billion annually by 2017 by virtue of lesser Inventory being carried by the industry.
Canada eyes partnership with energy companies
Kolkata: Canadian companies are looking for joint venture opportunities in small run-on-the-river hydroelectric capacities and biomass-based power generation projects in Eastern and North-Eastern States.
“We are looking forward to companies or Government agencies that we can work with in these two sectors in the region,” Denis Connor, Practice Head – Clean Technology, Department of Foreign Affairs, Trade and Development (DFATD), Ottawa, told reporters here.
Connor, who is leading a delegation consisting representatives from clean technology companies, was addressing an interaction on business opportunities in renewable energy sector organised by the Indian Chamber of Commerce.
According to him, the delegation was trying to identify joint venture partners for power generation projects up to 10 megawatt capacity.
Connor added the delegation held interesting discussions with a couple of Government agencies in this regard.
Meanwhile, Debasish Kumar, Member, Mayor-in-Council, Kolkata Municipal Corporation (KMC), who was addressing the interactive session, said the city civic body would implement a few roof-top solar power projects in the city.
A 200 KW a day solar power generation facility on the rooftop of a corporation-owned market complex (Gariahat market) is in advance stages of implementation. “This will entail an investment of around Rs 2.5 crore. We are awaiting the Centre’s approval for releasing the funds for the project under JNNURM scheme,” Kumar added.
“We are looking forward to companies or Government agencies that we can work with in these two sectors in the region,” Denis Connor, Practice Head – Clean Technology, Department of Foreign Affairs, Trade and Development (DFATD), Ottawa, told reporters here.
Connor, who is leading a delegation consisting representatives from clean technology companies, was addressing an interaction on business opportunities in renewable energy sector organised by the Indian Chamber of Commerce.
According to him, the delegation was trying to identify joint venture partners for power generation projects up to 10 megawatt capacity.
Connor added the delegation held interesting discussions with a couple of Government agencies in this regard.
Meanwhile, Debasish Kumar, Member, Mayor-in-Council, Kolkata Municipal Corporation (KMC), who was addressing the interactive session, said the city civic body would implement a few roof-top solar power projects in the city.
A 200 KW a day solar power generation facility on the rooftop of a corporation-owned market complex (Gariahat market) is in advance stages of implementation. “This will entail an investment of around Rs 2.5 crore. We are awaiting the Centre’s approval for releasing the funds for the project under JNNURM scheme,” Kumar added.
Thursday, September 12, 2013
Tech centre to promote India-EU relations
Bengaluru: In a bid to increase collaboration among Indian and European companies, the European Business and Technology Centre (EBTC) has launched a new centre in Bangalore.
The centre, an European Union (EU) co-funded venture, will enable Indian businessmen to tie up with European businesses in the areas of clean technology and collaborate in areas of research. For example, an Indian entrepreneur can go to the Bangalore centre and see how the technology works, rather than wait for months to see the product. This is enabled through video conferencing systems in the EBTC and live interactions with experts are also facilitated, according to EBTC officials.
Clean technology refers to energy efficient technology used in every day lives using renewable materials and energy sources to reduce the use of natural resources and eliminate emissions and wastes. Leena Pishe Thomas, regional manager, EBTC Bangalore, told Business Line that the collaboration aims to open up doors for European companies that are in the midst of a recession but at the same time have growth aspirations.
More opportunities
According to Pishe, it would work both ways. “ Despite having good products, high costs coupled with shrinking of existing markets are forcing European companies to look for opportunities in countries such as India and collaborate with Indian entrepreneurs,” she said.
Industry watchers say that Indian companies that are in the business of clean tech will benefit by understanding and collaborating with European companies for technology, intellectual property and research.
EBTC counts Cambridge Cleantech, European Renewable Energy Council, Fraunhofer Institute as some of its partners.
In Europe, EBTC partners include business and research organisations working on energy, biotech, environment and transport.
EBTC, which has a tie up with the European Investment Bank, will help in arranging finance for projects. According to 2010 data, trade between India and Europe stood at $74.5 billion.
The centre, an European Union (EU) co-funded venture, will enable Indian businessmen to tie up with European businesses in the areas of clean technology and collaborate in areas of research. For example, an Indian entrepreneur can go to the Bangalore centre and see how the technology works, rather than wait for months to see the product. This is enabled through video conferencing systems in the EBTC and live interactions with experts are also facilitated, according to EBTC officials.
Clean technology refers to energy efficient technology used in every day lives using renewable materials and energy sources to reduce the use of natural resources and eliminate emissions and wastes. Leena Pishe Thomas, regional manager, EBTC Bangalore, told Business Line that the collaboration aims to open up doors for European companies that are in the midst of a recession but at the same time have growth aspirations.
More opportunities
According to Pishe, it would work both ways. “ Despite having good products, high costs coupled with shrinking of existing markets are forcing European companies to look for opportunities in countries such as India and collaborate with Indian entrepreneurs,” she said.
Industry watchers say that Indian companies that are in the business of clean tech will benefit by understanding and collaborating with European companies for technology, intellectual property and research.
EBTC counts Cambridge Cleantech, European Renewable Energy Council, Fraunhofer Institute as some of its partners.
In Europe, EBTC partners include business and research organisations working on energy, biotech, environment and transport.
EBTC, which has a tie up with the European Investment Bank, will help in arranging finance for projects. According to 2010 data, trade between India and Europe stood at $74.5 billion.
Norms get easier: Global varsities allowed to set up campuses in India without partnering with Indian institutes
New Delhi/ Mumbai: The government has opened the doors for top foreign universities to set up campuses in the country and award degrees, giving Indian students the opportunity to study in global institutions without leaving home or spending a fortune in dollars.
Faced with delays in enacting a law to allow foreign universities to set up base in India, the human resource development ministry has decided to allow the top 400 institutions to enter via an executive order. It is working on regulations under the University Grants Commission Act to let foreign institutions begin operations without an Indian partner, which is currently a requirement.
A 2006 study by the Association of Indian Universities found that over 340 institutes in India were offering courses in collaboration with foreign educational institutes. The move has been lauded by industry leaders and many in the education sector. However, there are concerns that allowing only the top 400 institutions to set up campuses is too restrictive while others doubt if the world's top universities are waiting to rush in. "I do not expect the best universities to be here immediately," said NR Madhava Menon, founder-director of the National Law School, Bangalore.
The proposed UGC (Establishment & Operation of Campuses of Foreign Educational Institutions) Rules requires that foreign education providers set up the India campuses as not-for-profit companies, that is companies set up under Section 25 of the old Companies Act (Section 8 of the new one). The proposal has the support of the department of industrial policy & promotion (DIPP) and the department of economic affairs (DEA). "The ministry had sought comments and observations of DIPP and DEA on the rules. Both have supported the proposal," the HRD ministry spokesperson said.
The decision has cheered private institutions and industry leaders. "It is a wonderful move to allow reputed international universities to freely come to India, set up campuses and offer degrees. Our students will get exposure to best in-class global education and won't have to leave the country for that. It will offer competition to local universities and offer greater choice to students," said TV Mohandas Pai, chairman of Manipal Global Education, and former InfosysBSE -0.69 % director.
Faced with delays in enacting a law to allow foreign universities to set up base in India, the human resource development ministry has decided to allow the top 400 institutions to enter via an executive order. It is working on regulations under the University Grants Commission Act to let foreign institutions begin operations without an Indian partner, which is currently a requirement.
A 2006 study by the Association of Indian Universities found that over 340 institutes in India were offering courses in collaboration with foreign educational institutes. The move has been lauded by industry leaders and many in the education sector. However, there are concerns that allowing only the top 400 institutions to set up campuses is too restrictive while others doubt if the world's top universities are waiting to rush in. "I do not expect the best universities to be here immediately," said NR Madhava Menon, founder-director of the National Law School, Bangalore.
The proposed UGC (Establishment & Operation of Campuses of Foreign Educational Institutions) Rules requires that foreign education providers set up the India campuses as not-for-profit companies, that is companies set up under Section 25 of the old Companies Act (Section 8 of the new one). The proposal has the support of the department of industrial policy & promotion (DIPP) and the department of economic affairs (DEA). "The ministry had sought comments and observations of DIPP and DEA on the rules. Both have supported the proposal," the HRD ministry spokesperson said.
The decision has cheered private institutions and industry leaders. "It is a wonderful move to allow reputed international universities to freely come to India, set up campuses and offer degrees. Our students will get exposure to best in-class global education and won't have to leave the country for that. It will offer competition to local universities and offer greater choice to students," said TV Mohandas Pai, chairman of Manipal Global Education, and former InfosysBSE -0.69 % director.
India's foreign trade: August, 2013
XPORTS (including re-exports)
Exports during August, 2013 were valued at US $ 26135.94 million (Rs. 165202.15 crore) which was 12.97 per cent higher in Dollar terms (28.53 per cent higher in Rupee terms) than the level of US $ 23134.47 million (Rs. 128534.68 crore) during August, 2012. Cumulative value of exports for the period April-August 2013 -14 was US $ 124426.07 million (Rs724733.44 crore) as against US $ 119771.91 million (Rs. 654859.77 crore) registering a growth of 3.89 per cent in Dollar terms and growth of 10.67 per cent in Rupee terms over the same period last year.
IMPORTS
Imports during August, 2013 were valued at US $ 37053.85 million (Rs.234212.93 crore) representing a negative growth of 0.68 per cent in Dollar terms and growth of 12.99 per cent in Rupee terms over the level of imports valued at US $ 37307.27 million (Rs. 207278.42 crore) in August, 2012. Cumulative value of imports for the period April-August, 2013-14 was US $ 197792.14 million (Rs. 1146140.26 crore) as against US $ 194442.45 million (Rs. 1062866.95 crore) registering a growth of 1.72 per cent in Dollar terms and growth of 7.83 per cent in Rupee terms over the same period last year.
CRUDE OIL AND NON-OIL IMPORTS:
Oil imports during August, 2013 were valued at US $ 15095.3 million which was 17.88 per cent higher than oil imports valued at US $ 12805.7 million in the corresponding period last year. Oil imports during April-August, 2013-14 were valued at US $ 69679.6 million which was 5.60 per cent higher than the oil imports of US $ 65982.0 million in the corresponding period last year.
Non-oil imports during August, 2013 were estimated at US $ 21958.6 million which was 10.4 per cent lower than non-oil imports of US $ 24501.6 million in August, 2012. Non-oil imports during April-August, 2013-14 were valued at US $ 128112.5 million which was 0.3 per cent lower than the level of such imports valued at US $ 128460.5 million in April-August, 2012-13.
TRADE BALANCE
The trade deficit for April-August, 2013-14 was estimated at US $ 73366.07 million which was lower than the deficit of US $ 74670.54 million during April-August, 2012-13.
EXPORTS & IMPORTS : (US $ Million)
(PROVISIONAL)
AUGUST APRIL-AUGUST
EXPORTS(including re-exports)
2012-13 23134.47 119771.91
2013-14 26135.94 124426.07
%Growth2013-14/ 2012-2013 12.97 3.89
IMPORTS
2012-13 37307.27 194442.45
2013-14 37053.85 197792.14
%Growth2013-14/ 2012-2013 -0.68 1.72
TRADE BALANCE
2012-13 -14172.80 -74670.54
2013-14 -10917.91 -73366.07
EXPORTS & IMPORTS : (Rs. Crore)
(PROVISIONAL) AUGUST APRIL-AUGUST
EXPORTS(including re-exports)
2012-13 128534.68 654859.77
2013-14 165202.15 724733.44
%Growth2013-14/ 2012-2013 28.53 10.67
IMPORTS
2012-13 207278.42 1062866.95
2013-14 234212.93 1146140.26
%Growth2013-14/ 2012-2013 12.99 7.83
TRADE BALANCE
2012-13 -78743.74 -408007.18
2013-14 -69010.78 -421406.82
Exports during August, 2013 were valued at US $ 26135.94 million (Rs. 165202.15 crore) which was 12.97 per cent higher in Dollar terms (28.53 per cent higher in Rupee terms) than the level of US $ 23134.47 million (Rs. 128534.68 crore) during August, 2012. Cumulative value of exports for the period April-August 2013 -14 was US $ 124426.07 million (Rs724733.44 crore) as against US $ 119771.91 million (Rs. 654859.77 crore) registering a growth of 3.89 per cent in Dollar terms and growth of 10.67 per cent in Rupee terms over the same period last year.
IMPORTS
Imports during August, 2013 were valued at US $ 37053.85 million (Rs.234212.93 crore) representing a negative growth of 0.68 per cent in Dollar terms and growth of 12.99 per cent in Rupee terms over the level of imports valued at US $ 37307.27 million (Rs. 207278.42 crore) in August, 2012. Cumulative value of imports for the period April-August, 2013-14 was US $ 197792.14 million (Rs. 1146140.26 crore) as against US $ 194442.45 million (Rs. 1062866.95 crore) registering a growth of 1.72 per cent in Dollar terms and growth of 7.83 per cent in Rupee terms over the same period last year.
CRUDE OIL AND NON-OIL IMPORTS:
Oil imports during August, 2013 were valued at US $ 15095.3 million which was 17.88 per cent higher than oil imports valued at US $ 12805.7 million in the corresponding period last year. Oil imports during April-August, 2013-14 were valued at US $ 69679.6 million which was 5.60 per cent higher than the oil imports of US $ 65982.0 million in the corresponding period last year.
Non-oil imports during August, 2013 were estimated at US $ 21958.6 million which was 10.4 per cent lower than non-oil imports of US $ 24501.6 million in August, 2012. Non-oil imports during April-August, 2013-14 were valued at US $ 128112.5 million which was 0.3 per cent lower than the level of such imports valued at US $ 128460.5 million in April-August, 2012-13.
TRADE BALANCE
The trade deficit for April-August, 2013-14 was estimated at US $ 73366.07 million which was lower than the deficit of US $ 74670.54 million during April-August, 2012-13.
EXPORTS & IMPORTS : (US $ Million)
(PROVISIONAL)
AUGUST APRIL-AUGUST
EXPORTS(including re-exports)
2012-13 23134.47 119771.91
2013-14 26135.94 124426.07
%Growth2013-14/ 2012-2013 12.97 3.89
IMPORTS
2012-13 37307.27 194442.45
2013-14 37053.85 197792.14
%Growth2013-14/ 2012-2013 -0.68 1.72
TRADE BALANCE
2012-13 -14172.80 -74670.54
2013-14 -10917.91 -73366.07
EXPORTS & IMPORTS : (Rs. Crore)
(PROVISIONAL) AUGUST APRIL-AUGUST
EXPORTS(including re-exports)
2012-13 128534.68 654859.77
2013-14 165202.15 724733.44
%Growth2013-14/ 2012-2013 28.53 10.67
IMPORTS
2012-13 207278.42 1062866.95
2013-14 234212.93 1146140.26
%Growth2013-14/ 2012-2013 12.99 7.83
TRADE BALANCE
2012-13 -78743.74 -408007.18
2013-14 -69010.78 -421406.82
Subscribe to:
Posts (Atom)