Mumbai: Sterlite Grid has commissioned a 23-km 400 kV double-circuit quad transmission line connecting Purnia and Bihar Sharif district substations in Bihar.
Sterlite Grid is a wholly-owned subsidiary of Sterlite Technologies.
The project cost is about Rs 500 crore. Awarded on build, own, operate and maintain (BOOM) basis, the project will provide annuity revenue to Sterlite Grid for 25 years. Sterlite Grid said it was selected to build the country’s first ultra mega transmission projectwith two 400 kV transmission lines under tariff-based competitive bidding.
The line provides critical connectivity for power transfer from hydro power plants in the North Eastern region. It will bring on line enough transmission capacity to power over one million homes in northeast Bihar and northern India.
The line had been identified highest priority by Power System Operation Corporation, the national power grid operator.
With the completion of the Purnia-Bihar Sharif transmission line, Sterlite Grid has completed the installation of one transmission line in the East North Interconnection Transmission Project. ENICL would connect Assam with West Bengal and Bihar.
Total investment in ENICL project is about Rs 1,000 crore, besides which the company has Rs 3,500 crore worth of projects in progress.
Success in my Habit
Monday, September 23, 2013
Bosch to invest Rs 1,500 crore in Karnataka
Bengaluru: Bosch, a leading supplier of technology and services in the areas of automotive, industrial technology, and consumer goods, will invest Rs 1,500 crore ($240 million) over the next seven years in Bangalore, in expanding its manufacturing and research and development capabilities.
The 53-billion euro German auto component manufacturer is relocating its six-decade-old manufacturing facility from Adugodi, located in the heart of the city, to Bidadi, which is approximately 32 km from Bangalore city.
The existing Bosch premises at Adugodi would continue to house the company's India head office and the space available on account of relocation will be used for expansion of Bosch R&D Centre, and Robert Bosch Engineering & Business Solutions.
"This move to relocate underlines our commitment to India and especially to the state of Karnataka. The developing industrial area in Bidadi will offer larger space and better infrastructure support for our future expansion," said Steffen Berns, MD, Bosch Ltd.
He added that though the current economic situation was tough, the relocation would cater to the growing business needs of the Indian market in the long term. The company has started work on its new facility, part of which will become operational in the next two years.
"In spite of the economic downturn we continue our projects in Bidadi and Adugodi and Bosch will invest Rs 1,500 crore in the next seven years in these two projects," said Soumitra Bhattacharya, joint MD, Bosch Ltd.
The relocation will happen in a phased manner with the company investing Rs 250 crore in setting up phase I of the Bidadi plant, which will be operational in the third quarter of fiscal 2015. Around 850 employees from the Adugodi plant will be relocated to the new facility.
In all around 4,000 employees will be part of the relocation exercise, which will be completed post 2017.
The new facility will initially manufacture several components of diesel fuel injection systems such as common rail pumps, common rail and glow plugs.
The Bosch Group operates in India through six companies, has a turnover of Rs 12,900 crore and employs 26,000 people. Of that 16,000 people are based in Karnataka.
The 53-billion euro German auto component manufacturer is relocating its six-decade-old manufacturing facility from Adugodi, located in the heart of the city, to Bidadi, which is approximately 32 km from Bangalore city.
The existing Bosch premises at Adugodi would continue to house the company's India head office and the space available on account of relocation will be used for expansion of Bosch R&D Centre, and Robert Bosch Engineering & Business Solutions.
"This move to relocate underlines our commitment to India and especially to the state of Karnataka. The developing industrial area in Bidadi will offer larger space and better infrastructure support for our future expansion," said Steffen Berns, MD, Bosch Ltd.
He added that though the current economic situation was tough, the relocation would cater to the growing business needs of the Indian market in the long term. The company has started work on its new facility, part of which will become operational in the next two years.
"In spite of the economic downturn we continue our projects in Bidadi and Adugodi and Bosch will invest Rs 1,500 crore in the next seven years in these two projects," said Soumitra Bhattacharya, joint MD, Bosch Ltd.
The relocation will happen in a phased manner with the company investing Rs 250 crore in setting up phase I of the Bidadi plant, which will be operational in the third quarter of fiscal 2015. Around 850 employees from the Adugodi plant will be relocated to the new facility.
In all around 4,000 employees will be part of the relocation exercise, which will be completed post 2017.
The new facility will initially manufacture several components of diesel fuel injection systems such as common rail pumps, common rail and glow plugs.
The Bosch Group operates in India through six companies, has a turnover of Rs 12,900 crore and employs 26,000 people. Of that 16,000 people are based in Karnataka.
Coal India to implement 126 projects during 12th Plan period
Kolkata: Coal India has identified 126 projects, having an estimated capacity of 438.04 million tonnes, to be taken up during the 12 {+t} {+h} Plan period.
According to S. Narsing Rao, Chairman, CIL, preliminary reports for 78 of them have been formulated.
“Four projects, having an estimated capacity of 12.50 million tonne and a proposed investment of Rs 2,294.79 crore, have also been sanctioned,” Rao told shareholders during the 39 {+t} {+h} AGM here on Wednesday. According to him, nearly half (60 of the identified 126) the projects would contribute about 88 million tonne in the terminal year (2016-17) of the Five Year Plan.
In order to meet production demand, the company has decided to work under the mine-developer-operator (MDO) mode. “We propose to take up seven mines in the first phase and expand later based on experience,” the Chairman said.
Coal Import
CIL is likely to import 15 million tonnes of coal for power utilities as part of meeting the fuel supply agreement commitments.
“We have received interest for 15 million tonnes from private power producers and state-owned entities,” CIL director (marketing), B.K Saxena, told reporters on the sidelines of the AGM.
Some 55- 60 companies that include Damodar Valley Corporation have shown interest in importing coal. Imported coal is likely to be supplied from 2014-15.
According to Saxena, Coal India would float tenders to select an agency who will import the coal on its behalf. The process is likely to be completed by the end of this fiscal.
Buyers will have to pay at least 90 per cent of coal value in advance to CIL.
Trade Union Meeting
Meanwhile, Coal India management will meet trade unions on September 20 to avert a proposed three-day strike beginning September 23. Five trade unions have decided to go on strike to protest the government’s plans of divesting another 5 per cent in the company.
According to S. Narsing Rao, Chairman, CIL, preliminary reports for 78 of them have been formulated.
“Four projects, having an estimated capacity of 12.50 million tonne and a proposed investment of Rs 2,294.79 crore, have also been sanctioned,” Rao told shareholders during the 39 {+t} {+h} AGM here on Wednesday. According to him, nearly half (60 of the identified 126) the projects would contribute about 88 million tonne in the terminal year (2016-17) of the Five Year Plan.
In order to meet production demand, the company has decided to work under the mine-developer-operator (MDO) mode. “We propose to take up seven mines in the first phase and expand later based on experience,” the Chairman said.
Coal Import
CIL is likely to import 15 million tonnes of coal for power utilities as part of meeting the fuel supply agreement commitments.
“We have received interest for 15 million tonnes from private power producers and state-owned entities,” CIL director (marketing), B.K Saxena, told reporters on the sidelines of the AGM.
Some 55- 60 companies that include Damodar Valley Corporation have shown interest in importing coal. Imported coal is likely to be supplied from 2014-15.
According to Saxena, Coal India would float tenders to select an agency who will import the coal on its behalf. The process is likely to be completed by the end of this fiscal.
Buyers will have to pay at least 90 per cent of coal value in advance to CIL.
Trade Union Meeting
Meanwhile, Coal India management will meet trade unions on September 20 to avert a proposed three-day strike beginning September 23. Five trade unions have decided to go on strike to protest the government’s plans of divesting another 5 per cent in the company.
Madras University, UK institute tie up for course in environment management
Chennai: Madras Varsity Ties Up With Uk Institute To Offer Green Course
UK-based University of Northampton has tied up with Madras University to offer a Master’s degree in International Environment Management. R. Thandavam, Vice-Chancellor, Madras University, said the one-year M.Sc course has been loosely structured to allow those in employment obtain a UK degree while working. The fee is Rs 1.5 lakh. Graduates would find favour with employers such as environmental consultancies and Government agencies managing conservation projects. The course will allow students access to online courseware put up by the University of Northampton; contact classes at the Madras University campus will include lectures by faculty from the UK University, but most lessons from the foreign university will be streamed online. The curriculum includes environment management policy and control in India, waste management in India, environment psychology, and pollution control.
UK-based University of Northampton has tied up with Madras University to offer a Master’s degree in International Environment Management. R. Thandavam, Vice-Chancellor, Madras University, said the one-year M.Sc course has been loosely structured to allow those in employment obtain a UK degree while working. The fee is Rs 1.5 lakh. Graduates would find favour with employers such as environmental consultancies and Government agencies managing conservation projects. The course will allow students access to online courseware put up by the University of Northampton; contact classes at the Madras University campus will include lectures by faculty from the UK University, but most lessons from the foreign university will be streamed online. The curriculum includes environment management policy and control in India, waste management in India, environment psychology, and pollution control.
Amritsar-Delhi-Kolkata corridor to get Rs 5,749 cr from Centre
New Delhi: The proposed Amritsar-Delhi-Kolkata Industrial Corridor (ADKIC), that seeks to promote industrialisation and job creation in 20 cities spanning seven States, will require an estimated Central funding of Rs 5,749 crore for building an Integrated Manufacturing Cluster in each State it passes through.
The Inter Ministerial Group (IMG), set up by the Prime Minister to do the preparatory work for the project, has suggested in its report that the Centre’s support for the project would be disbursed over 15 years and used for a variety of purposes.
This would include interest subvention (subsidy), share in equity, development of trunk infrastructure and initial project development grant to ADKIC Development Corporation, a release given out by the Prime Minister’s Office on Wednesday said.
Principal Secretary to the Prime Minister, Pulok Chatterji, will hold a meeting with IMG members and other relevant ministries on Friday, the release added.
The IMG includes secretaries from the Ministries and Departments of Finance, Industrial Policy and Promotion, Urban Development, Shipping, Road Transport and Highways and Chairman of the Railway Board,
As per the IMG’s recommendations, the ADKIC will be aligned to the Eastern Development Freight Corridor and will span 20 cities in Punjab, Haryana, Uttar Pradesh, Uttarakhand, Bihar, Jharkhand and West Bengal. It proposes to leverage the existing Highway system on this route and the Inland Water System being developed.
The IMG has suggested setting up an Apex Monitoring Authority, under the Commerce and Industry, for overall guidance, planning and approvals, setting up of timelines for implementation and monitoring.
The development of ADKIC will be taken up in a band of 150-200 km on either side of EDFC in a phased manner.
In the first phase, every State could promote at least one Integrated Manufacturing Cluster of about 10 sq km, in which 40 per cent area would be earmarked permanently for manufacturing and processing activities.
The Inter Ministerial Group (IMG), set up by the Prime Minister to do the preparatory work for the project, has suggested in its report that the Centre’s support for the project would be disbursed over 15 years and used for a variety of purposes.
This would include interest subvention (subsidy), share in equity, development of trunk infrastructure and initial project development grant to ADKIC Development Corporation, a release given out by the Prime Minister’s Office on Wednesday said.
Principal Secretary to the Prime Minister, Pulok Chatterji, will hold a meeting with IMG members and other relevant ministries on Friday, the release added.
The IMG includes secretaries from the Ministries and Departments of Finance, Industrial Policy and Promotion, Urban Development, Shipping, Road Transport and Highways and Chairman of the Railway Board,
As per the IMG’s recommendations, the ADKIC will be aligned to the Eastern Development Freight Corridor and will span 20 cities in Punjab, Haryana, Uttar Pradesh, Uttarakhand, Bihar, Jharkhand and West Bengal. It proposes to leverage the existing Highway system on this route and the Inland Water System being developed.
The IMG has suggested setting up an Apex Monitoring Authority, under the Commerce and Industry, for overall guidance, planning and approvals, setting up of timelines for implementation and monitoring.
The development of ADKIC will be taken up in a band of 150-200 km on either side of EDFC in a phased manner.
In the first phase, every State could promote at least one Integrated Manufacturing Cluster of about 10 sq km, in which 40 per cent area would be earmarked permanently for manufacturing and processing activities.
Wednesday, September 18, 2013
Germany to finance India’s green energy corridors
New Delhi: Germany has committed financial and technical assistance to India for the Green Energy Corridors. This includes Financial Assistance of Euro 250 Million as Reduced Interest Loan. Technical Assistance includes:
(i) Euro 2 million for Indo-German Energy Programme – New component on Green Energy Corridors; and
(ii) Euro 2 million for Integration of Renewable Energies into the Indian Electricity System (I-RE).
This was disclosed during the Indo-German Annual Negotiation meeting held in New Delhi in July, 2013.
Germany has also expressed its willingness regarding concessional loans from KFW of up to one billion euro for financing the Green Energy Corridors project under Indo-German Bilateral Development Cooperation Programme over the next six years. This was discussed during the Indo-German Government Consultations held in Berlin in April, 2013
The Green Energy Corridors project will help in integrating renewable energy into the National grid. It comprises of both inter-state and intra-state schemes for evacuation of power from wind and solar projects.
(i) Euro 2 million for Indo-German Energy Programme – New component on Green Energy Corridors; and
(ii) Euro 2 million for Integration of Renewable Energies into the Indian Electricity System (I-RE).
This was disclosed during the Indo-German Annual Negotiation meeting held in New Delhi in July, 2013.
Germany has also expressed its willingness regarding concessional loans from KFW of up to one billion euro for financing the Green Energy Corridors project under Indo-German Bilateral Development Cooperation Programme over the next six years. This was discussed during the Indo-German Government Consultations held in Berlin in April, 2013
The Green Energy Corridors project will help in integrating renewable energy into the National grid. It comprises of both inter-state and intra-state schemes for evacuation of power from wind and solar projects.
Tamil Nadu takes India's solar power capacity up 30%
Chennai: India's installed solar power capacity is poised to jump 30% with the Tamil Nadu government close to signing power purchase agreements for 700 megawatts (MW) by the end of October.
Once the plants are up and running, Tamil Nadu will have the second largest solar power capacity in India after Gujarat, the pioneer in such projects in the country.
India has 1,759.43MW of grid-connected solar power, with close to 800MW coming from Gujarat. The projects are expected to be ready for commissioning next year.
As part of TN's solar power policy, which aims at installing 3,000MW of capacity by 2015, a total of 52 companies will sign agreements with the Tamil Nadu Generation and Distribution Corporation (Tangedco) for capacity totalling 698MW at a tariff of 6.48 per unit (with a 5% increase annually for 10 years).
This comes at a time when the country's national solar policy is tottering. The second phase of the Jawaharlal Nehru National Solar Mission (JNNSM) has been delayed by over five months with no sign of the programme being kick-started any time soon.
Solar power is the most expensive form of renewable energy and rupee depreciation has added to the woes of companies importing high-end photo voltaic panels.
"There has been a lot of uncertainty over solar power companies and negativity had set in. But now there are projects in the pipeline and activity for players across the board will go up," said Madhavan Nampoothiri, founder and director of RESolve Energy Consultants, an energy consultancy firm.
Last week, Tangedco held individual meetings with solar power developers asking them to submit documents for proof of land ownership and bank guarantees for financing. "Thirty companies are yet to submit the documents and we have given time till October 30. Once this is in place, power purchase agreements will be signed," a senior official from Tangedco said.
Companies that have the documents in place have started working on the project. "The meeting with the Tangedco chairman and other members was a manner of assurance of support and we have started progress on our project. The team is on the site and we are in talks with banks for financing," said T R Kishor Nair, President, Welspun Energy, which is setting up a 60 MW plant in Trichy district. Solar policies in other states haven't made as much progress and capacities also aren't as large as in Tamil Nadu. While Andhra Pradesh has a target of 1,000 MW, tariff is a deterrent for investors as it is fixed at Rs 6.49 with no annual hike. The programmes in states like Punjab (300 MW) and Karnataka (130 MW) are on a smaller scale and are in the nascent stage. What adds to Tamil Nadu's attractiveness is that the state has high solar radiation of 5.6 - 6.0 kWh per square meter with around 300 clear sunny days in a year, the third highest in India.
Once the plants are up and running, Tamil Nadu will have the second largest solar power capacity in India after Gujarat, the pioneer in such projects in the country.
India has 1,759.43MW of grid-connected solar power, with close to 800MW coming from Gujarat. The projects are expected to be ready for commissioning next year.
As part of TN's solar power policy, which aims at installing 3,000MW of capacity by 2015, a total of 52 companies will sign agreements with the Tamil Nadu Generation and Distribution Corporation (Tangedco) for capacity totalling 698MW at a tariff of 6.48 per unit (with a 5% increase annually for 10 years).
This comes at a time when the country's national solar policy is tottering. The second phase of the Jawaharlal Nehru National Solar Mission (JNNSM) has been delayed by over five months with no sign of the programme being kick-started any time soon.
Solar power is the most expensive form of renewable energy and rupee depreciation has added to the woes of companies importing high-end photo voltaic panels.
"There has been a lot of uncertainty over solar power companies and negativity had set in. But now there are projects in the pipeline and activity for players across the board will go up," said Madhavan Nampoothiri, founder and director of RESolve Energy Consultants, an energy consultancy firm.
Last week, Tangedco held individual meetings with solar power developers asking them to submit documents for proof of land ownership and bank guarantees for financing. "Thirty companies are yet to submit the documents and we have given time till October 30. Once this is in place, power purchase agreements will be signed," a senior official from Tangedco said.
Companies that have the documents in place have started working on the project. "The meeting with the Tangedco chairman and other members was a manner of assurance of support and we have started progress on our project. The team is on the site and we are in talks with banks for financing," said T R Kishor Nair, President, Welspun Energy, which is setting up a 60 MW plant in Trichy district. Solar policies in other states haven't made as much progress and capacities also aren't as large as in Tamil Nadu. While Andhra Pradesh has a target of 1,000 MW, tariff is a deterrent for investors as it is fixed at Rs 6.49 with no annual hike. The programmes in states like Punjab (300 MW) and Karnataka (130 MW) are on a smaller scale and are in the nascent stage. What adds to Tamil Nadu's attractiveness is that the state has high solar radiation of 5.6 - 6.0 kWh per square meter with around 300 clear sunny days in a year, the third highest in India.
Registered MSMEs up by 19% in FY12
Chennai: The total number of registered micro, small and medium enterprises (MSMEs) rose by 19 per cent in 2011-12, according to the ministry of MSME's annual report for 2012-13. The gross output of these enterprises increased by around seven per cent in 2011-12, and rural areas continue to be the largest contributor in terms of both employment and output.
The annual report shows that there has been a consistent rate of growth of more than 10 per cent in the number of registered MSMEs every year until 2010-11, while in 2011-12 the growth rate surged to 19 per cent, which is around twice of the growth rate recorded for previous years.
The number of registered MSMEs (see table) in district industries centres across the country increased from 1.74 lakh in 2007-08 to 1.93 lakh in 2008-09, 2.14 lakh in 2009-10, 2.37 lakh in 2010-11 and 2.82 lakh in 2011-12. The major chunk of enterprises is beyond the urban centres, and they are mainly focused on providing services.
The new MSMEs have not only increased the employment substantially, but also the gross output. In 2001-02 the total number of working enterprises was 105.21 lakh, and this had more than quadrupled to 447.73 lakh in 2011-12. The number of people employed also quadrupled - from 249.33 lakh in 2001-02 to 1012.59 lakh in 2011-12.
The market value of fixed assets shot up from Rs 1,54,349 crore in 2001-02 to Rs 11,76,939.36 crore in 2011-12, while the gross output shot up from Rs 2,82,270 crore in 2001-02 to Rs 18,34,332.05 crore in 2011-12.
These enterprises manufacture over 6,000 products ranging from traditional to high-tech items. Significantly, the rural areas accounted for 55.34 per cent of the total units, which are largely proprietary enterprises.
The report stated that 94.41 per cent of the enterprises were proprietary enterprises, about 1.18 per cent were partnerships, 0.14 per cent are private and the rest are co-operatives/trusts and others.
The ministry said some recent measures that have helped the industry and increased the incidence of registration include the Rajiv Gandhi Udyami Mitra Yojana, through which handholding support and assistance was given, and the public procurement policy for goods produced and services rendered by MSEs.
The ten leading states in terms of number of enterprises are Uttar Pradesh (44.03 lakh units), West Bengal (36.64 lakh), Tamil Nadu (33.13 lakh), Maharashtra (30.63 lakh), Andhra Pradesh (25.96 lakh), Kerala (22.13 lakh), Gujarat (21.78 lakh), Karnataka (20.19 lakh), Madhya Pradesh (19.33 lakh) and Rajasthan (16.64 lakh).
The ten leading states in terms of employment are Uttar Pradesh (92.36 lakh employees), West Bengal (85.78 lakh), Tamil Nadu (80.98 lakh), Andhra Pradesh (70.69 lakh), Maharastra (70.04 lakh), Kerala (49.62 lakh), Gujarat (47.73 lakh), Karnataka (46.72 lakh), Madhya Pradesh (33.66 lakh) and Odhisa (33.24 lakh).
Rural areas with 200.19 lakh working enterprises accounted for 55.34 per cent of the total number of working enterprises in the MSME sector, whereas urban areas housed 161.57 lakh working enterprises (or 44.66 per cent of the total).
A majority of the enterprises are providers of services - constituted 68.21 per cent of the total, while the remaining 31.79 per cent are in manufacturing.
The annual report shows that there has been a consistent rate of growth of more than 10 per cent in the number of registered MSMEs every year until 2010-11, while in 2011-12 the growth rate surged to 19 per cent, which is around twice of the growth rate recorded for previous years.
The number of registered MSMEs (see table) in district industries centres across the country increased from 1.74 lakh in 2007-08 to 1.93 lakh in 2008-09, 2.14 lakh in 2009-10, 2.37 lakh in 2010-11 and 2.82 lakh in 2011-12. The major chunk of enterprises is beyond the urban centres, and they are mainly focused on providing services.
The new MSMEs have not only increased the employment substantially, but also the gross output. In 2001-02 the total number of working enterprises was 105.21 lakh, and this had more than quadrupled to 447.73 lakh in 2011-12. The number of people employed also quadrupled - from 249.33 lakh in 2001-02 to 1012.59 lakh in 2011-12.
The market value of fixed assets shot up from Rs 1,54,349 crore in 2001-02 to Rs 11,76,939.36 crore in 2011-12, while the gross output shot up from Rs 2,82,270 crore in 2001-02 to Rs 18,34,332.05 crore in 2011-12.
These enterprises manufacture over 6,000 products ranging from traditional to high-tech items. Significantly, the rural areas accounted for 55.34 per cent of the total units, which are largely proprietary enterprises.
The report stated that 94.41 per cent of the enterprises were proprietary enterprises, about 1.18 per cent were partnerships, 0.14 per cent are private and the rest are co-operatives/trusts and others.
The ministry said some recent measures that have helped the industry and increased the incidence of registration include the Rajiv Gandhi Udyami Mitra Yojana, through which handholding support and assistance was given, and the public procurement policy for goods produced and services rendered by MSEs.
The ten leading states in terms of number of enterprises are Uttar Pradesh (44.03 lakh units), West Bengal (36.64 lakh), Tamil Nadu (33.13 lakh), Maharashtra (30.63 lakh), Andhra Pradesh (25.96 lakh), Kerala (22.13 lakh), Gujarat (21.78 lakh), Karnataka (20.19 lakh), Madhya Pradesh (19.33 lakh) and Rajasthan (16.64 lakh).
The ten leading states in terms of employment are Uttar Pradesh (92.36 lakh employees), West Bengal (85.78 lakh), Tamil Nadu (80.98 lakh), Andhra Pradesh (70.69 lakh), Maharastra (70.04 lakh), Kerala (49.62 lakh), Gujarat (47.73 lakh), Karnataka (46.72 lakh), Madhya Pradesh (33.66 lakh) and Odhisa (33.24 lakh).
Rural areas with 200.19 lakh working enterprises accounted for 55.34 per cent of the total number of working enterprises in the MSME sector, whereas urban areas housed 161.57 lakh working enterprises (or 44.66 per cent of the total).
A majority of the enterprises are providers of services - constituted 68.21 per cent of the total, while the remaining 31.79 per cent are in manufacturing.
IIM-C management programme ranked among top 20 courses: Survey
Kolkata: Indian Institute of Management, Calcutta’s Post Graduate Programme has been ranked among the top 20 management programmes in the world.
According to a release, IIM Calcutta took part in the Financial Times (FT) Global Rankings survey Masters in Management 2013 for the first time and secured the 19th position before institutions like the London School of Economics, Aalto University and Manchester Business School.
Apart IIM Calcutta, IIM Ahmedabad from India has been featured in the ranking and secured 18th position.
This ranking would further strengthen the foundation of IIM Calcutta and attract better students and faculty, the release added.
According to a release, IIM Calcutta took part in the Financial Times (FT) Global Rankings survey Masters in Management 2013 for the first time and secured the 19th position before institutions like the London School of Economics, Aalto University and Manchester Business School.
Apart IIM Calcutta, IIM Ahmedabad from India has been featured in the ranking and secured 18th position.
This ranking would further strengthen the foundation of IIM Calcutta and attract better students and faculty, the release added.
India, Latvia to sign double taxation avoidance pact
Hyderabad: India and Latvia will sign an agreement for double taxation avoidance in New Delhi on Wednesday.
Following this, the Baltic state would open its embassy in New Delhi in January 2014, said Edgars Rinkevics, Latvian Minister of Foreign Affairs.
These steps are expected to give a significant boost to trade, cultural and educational exchanges between the two countries, ahead of India and the EU concluding a free trade agreement (FTA), he told Business Line here. Under the double taxation avoidance agreement, business profits will be taxable in the source state if the activities of an enterprise constitute a permanent establishment in that state.
Rinkevics, who is leading a 13-member trade delegation to India, said Latvia had completed all the formalities to open its Indian embassy, which would make it easier for Indians visiting the Baltic state to get visas and work permits.
It is also expected to provide Indian exporters and visitors with easier access to EU and Russian markets, as Latvia is a gateway to those regions.
While not giving a timeframe for the signing of an FTA between India and the EU, Rinkevics expressed the hope it would be done at the earliest. Issues such as public procurement and the opening of certain areas of industries were being sorted out, he said.
Latvia will be joining the euro zone in January 2014. That would have no impact on Indian investments in Latvia, the Minister said. India’s exports to Latvia increased from $59 million in 2007-08 to about $80 million last year, while imports touched $58 million. There are about 60 Latvian-Indian joint ventures in Latvia in the software and manufacturing sectors.
Following this, the Baltic state would open its embassy in New Delhi in January 2014, said Edgars Rinkevics, Latvian Minister of Foreign Affairs.
These steps are expected to give a significant boost to trade, cultural and educational exchanges between the two countries, ahead of India and the EU concluding a free trade agreement (FTA), he told Business Line here. Under the double taxation avoidance agreement, business profits will be taxable in the source state if the activities of an enterprise constitute a permanent establishment in that state.
Rinkevics, who is leading a 13-member trade delegation to India, said Latvia had completed all the formalities to open its Indian embassy, which would make it easier for Indians visiting the Baltic state to get visas and work permits.
It is also expected to provide Indian exporters and visitors with easier access to EU and Russian markets, as Latvia is a gateway to those regions.
While not giving a timeframe for the signing of an FTA between India and the EU, Rinkevics expressed the hope it would be done at the earliest. Issues such as public procurement and the opening of certain areas of industries were being sorted out, he said.
Latvia will be joining the euro zone in January 2014. That would have no impact on Indian investments in Latvia, the Minister said. India’s exports to Latvia increased from $59 million in 2007-08 to about $80 million last year, while imports touched $58 million. There are about 60 Latvian-Indian joint ventures in Latvia in the software and manufacturing sectors.
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