Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on September 19, 2013, Government has approved thirteen (13) proposals of Foreign Direct Investment (FDI) amounting to Rs. 1258.53 crore approximately.
In addition, one proposal viz., M/s Axis Bank Ltd. Ahmedabad, amounting to Rs. 6265.76 crore has been recommended for consideration of Cabinet Committee on Economic Affairs (CCEA).
Details of proposals in the Foreign Investment Promotion Board (FIPB) Meeting held on 19.9.2013.
Following thirteen (13) proposals have been approved:
Sl. No. Name of the applicant Particulars of the proposal FDI/NRI inflows (Rs. in crore)
1 M/s Indian Rotocraft Pvt. Ltd. Amendment in the approved activities of the previous FC approval letter to replace the helicopter model as AW 119Kx, the upgraded model, in place of AW 119Ke, the discontinued model. Nil
2 M/s BF Elbit Advanced Systems Pvt. Ltd., Pune Induction of foreign equity in defence sector. 37.44 (US $ 6 million)
3 M/s Camson Bio Technologies Ltd., Karnataka Issue of warrants to a foreign collaborator in the business of agricultural biotechnology. 32.18
4 M/s SD Bio Standard Dignostics Ltd Infusion of additional FDI in an existing foreign owned pharma company. 27.5
5 M/s Shantha Biotechnics Pvt. Ltd. An existing foreign investor in a brownfield pharma company to buy out the shares held by NRIs and Indian residents and to infuse fresh equity investment. 755.00
6 M/s Empays Payment System India Pvt. Ltd., Mumbai To set-up a Multi- Bank Payment System using the Instant Mobile Transfer System (IMT). 27.50
7 M/s Equitas Holdings Pvt. Ltd. A holding-cum-investment company in microfinance sector to increase FDI by issuance of equity shares and new foreign investors. 222.80
8 M/s Jaguar-Max Security Solutions Pvt. Ltd., New Delhi Induction of foreign investment to carry out the business of Private Security Services company. 0.11
9 M/s Stork Titanium Pvt. Ltd., New Delhi Induction of foreign investment to carry out the business of manufacturing, trading and dealing in titanium products. 156.00 (US $ 25 Million)
10 M/s Styrolution South East Asia Pte. Ltd., Singapore NR to NR transfer of shares within a group company by way of a block deal on the special trading window of BSE Ltd., /NSE Limited. Nil
11 M/s HCL Technologies Ltd., New Delhi Induction of direct foreign investment in its own total paid-up equity share capital and consequent indirect foreign investment in its wholly owned subsidiary. Nil
12 M/s Cable & Wireless Pvt. Ltd. Overseas group restructuring in telecom Sector Company without change in approved FDI/cap/investor. Nil
13 M/s Multi Screen Media Pvt. Ltd. To increase the foreign equity participation for production of television programmes in Indian and downlinking certain TV channels. Nil
The following eight (8) proposals have been recommended to be deferred:
Sl. No. Name of the applicant Particulars of the proposal
1 M/s SasMos Het Technologies Ltd., Bangalore Post facto approval to undertake manufacturing of electronic warfare subsystems, parts and accessories for airborne ground and naval application etc.
2 M/s Jubilant Aeronatics Pvt. Ltd. Amendment in the approved activities of the approval letter in defence sector.
3 M/s Kinedex Healthcare Pvt. Ltd., Jaipur Post facto approval for induction of foreign equity in the existing Indian pharma company.
4 M/s Laurus Labs Pvt. Ltd., Hyderabad Downstream investment in an Indian pharmaceutical company by way of subscription to fresh allotment of equity shares.
5 M/s Soma Tollways Pvt. Ltd. Post facto approval for increase in foreign equity in an investing company.
6 M/s M.D. Shajahan Bablu, Bangladesh Bangladesh nationals to incorporate a company in India with 100% FDI to engage in trading of Raw Jute and Jute Products and Agro based products.
7 M/s Green Destinations Holdings, Mauritius NR to NR transfer of shares before the expiry of lock-in period.
8 M/s Monsoon Capital LLC, USA To make FDI investments directly or indirectly in an Indian Trust.
The following two (2) proposals have been recommended for rejection:
Sl. No. Name of the applicant Particulars of the proposal
1 M/s Sundaram Ramaswamy, Gurgaon Conversion of an existing Indian Company into a LLP and additional FDI infusion.
2 M/s SQS India Infosystems Pvt. Ltd., Pune Post-facto approval for swap of shares to carry out the business of Software Testing Services.
The following one (1) proposals have been advised to access automatic route.
Sl. No. Name of the applicant Particulars of the proposal
1 M/s Octania Aerostructure Group Pvt. Ltd., New Delhi To issue equity shares to a foreign investor in lieu of technology transfer/knowhow to set up an aerospace machining and treatments company.
The following one (1) proposal has been advised that FIPB approval is not required:
Sl. No. Name of the applicant Particulars of the proposal
1 M/s Advanta Pvt. Ltd. Post-facto approval for induction of foreign investment into the company to carry out the business of Research, Production and marketing of hybrid seeds.
The following one (1) proposal has been recommended to advise the applicant that the proposal is not within the purview of FIPB:
Sl. No. Name of the applicant Particulars of the proposal
1 M/s Artura Pharmaceuticals Pvt. Ltd., Tamil Nadu Post-facto approval for delay of 6 months and 2 days in receiving part of the consideration for the issue of equity shares in an existing pharma company.
Decisions in the following five (5) proposals have been kept in abeyance
Sl. No. Name of the applicant Particulars of the proposal
1 M/s Brampton Pvt. Ltd. Clarification regarding limit on percentage of shareholding to be held either by Indian partner or foreign partner for forming the joint venture company.
2 M/s Acebright (India) Pharma Pvt. Ltd., Karnataka A foreign owned Indian pharma company to receive additional foreign investment by way of fresh issue and transfer. Post-facto approval is also sought for an earlier transfer.
3 M/s Manipal Technologies Ltd., Karnataka Induction of foreign investment in order to invest in the subsidiary to enter into cards payment system management and processing services for all kinds of alternate delivery channels including ATM.
4 M/s AU Housing Finance Limited, Jaipur An Indian Housing Finance Company proposes to increase direct and indirect foreign investment upto 95%, without meeting the minimum capitalization norm of USD 50 million.
5 M/s Aerrianta International CPT, Ireland To set up a 50:50 JV company to engage in running duty free shops at Mumbai airport.
The following one (1) proposal has been recommended for the consideration of CCEA, as the investment involved in the proposal is above Rs. 1200 crore.
1 M/s Axis Bank Limited, Ahmedabad A private bank proposes to increase the foreign equity from the existing 49% to 62%. 6265.76
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Thursday, October 31, 2013
Sunday, October 20, 2013
IL&FS Engineering bags Rs 150-cr rural electrification project
Hyderabad: IL&FS Engineering and Construction Company Ltd has received a Letter of Award (LoA) from Paschimanchal Vidyut Vitran Nigam Ltd for execution of rural electrification works in Bulandshahr district of Uttar Pradesh.
The Rs 149.68-crore project is to be executed within 18 months on a turnkey basis. The project comes under the Government of India scheme of Rajeev Gandhi Grameen Vidyutikaran Yojana (RGGVY) Phase-II. The project is funded by Rural Electrification Corporation.
According to a statement, construction and infrastructure company IL&FS Engineering Services recently won a rural electrification project from Madhyanchal Vidyut Vitran Nigam Ltd in Uttar Pradesh.
The company is already executing rural electrification works for West Bengal State Electricity Distribution Company Ltd and for Power Grid Corporation of India Ltd in Orissa.
The Rs 149.68-crore project is to be executed within 18 months on a turnkey basis. The project comes under the Government of India scheme of Rajeev Gandhi Grameen Vidyutikaran Yojana (RGGVY) Phase-II. The project is funded by Rural Electrification Corporation.
According to a statement, construction and infrastructure company IL&FS Engineering Services recently won a rural electrification project from Madhyanchal Vidyut Vitran Nigam Ltd in Uttar Pradesh.
The company is already executing rural electrification works for West Bengal State Electricity Distribution Company Ltd and for Power Grid Corporation of India Ltd in Orissa.
Samsung, Sony, Nokia most attractive brands in East, says survey
Kolkata: Samsung , Sony and Nokia have emerged as the most attractive brands in the eastern part of the country, according to a study by Trust Research Advisory (TRA).
These brands have also been found to be top three most attractive in the country, India’s Most Attractive Brands 2013, noted.
According to Sachin Bhosle, Research Head, TRA, a brand insight company, the “report will be released annually, beginning this year.”
While ITC emerged as the 13th most attractive brand in Kolkata and 17th in East; Tata, Lux, Hero MotoCorp, Bata, Godrej, Philips, Britannia, Airtel, and Vodafone were among the top 20 attractive brands in the region.
Meanwhile, asked if Aditya Birla Group-owned brands would be impacted with Group Chairman Kumar Mangalam Birla’s name being dragged into the coal block allocation scam, Bhosle said: “I don’t actually think so because there are several brands which carry residual trust with them. I don’t see that it will impact the attractiveness quotients of the brands under the group immediately.”
He added: “There are several things that determine trust in a particular brand” and it should not be hurt due to “any such situation”.
These brands have also been found to be top three most attractive in the country, India’s Most Attractive Brands 2013, noted.
According to Sachin Bhosle, Research Head, TRA, a brand insight company, the “report will be released annually, beginning this year.”
While ITC emerged as the 13th most attractive brand in Kolkata and 17th in East; Tata, Lux, Hero MotoCorp, Bata, Godrej, Philips, Britannia, Airtel, and Vodafone were among the top 20 attractive brands in the region.
Meanwhile, asked if Aditya Birla Group-owned brands would be impacted with Group Chairman Kumar Mangalam Birla’s name being dragged into the coal block allocation scam, Bhosle said: “I don’t actually think so because there are several brands which carry residual trust with them. I don’t see that it will impact the attractiveness quotients of the brands under the group immediately.”
He added: “There are several things that determine trust in a particular brand” and it should not be hurt due to “any such situation”.
Healthcare Technology Innovation Centre, National Instruments to develop high-impact medical devices
Chennai: Healthcare Technology Innovation Centre (HTIC), a research and development centre established through a joint initiative of IIT, Madras and the department of biotechnology, will partner with National Instruments (NI), a US company that produces automated test equipment and virtual instrumentation software, to develop affordable and high-impact medical devices.
HTIC director Mohanasankar S signed a memorandum of understanding with Jayaram Pillai, managing director of National Instruments, India, Russia and Arabia, for the collaboration. The collaboration will extend to fields like patient monitoring, cardiovascular screening, surgical oncology and neonatal care.
NI will fund and provide software and hardware. Mohanasankar said, "NI's design and development platforms will allow us to shorten the time from idea to prototype, and quickly move the device for field testing and validation, which is crucial in med-tech R&D."
Jayaram Pillai of NI said, "We will support HTIC's initiatives with NI's graphical system design platform for product development and large scale deployment of affordable healthcare devices for emerging countries."
HTIC director Mohanasankar S signed a memorandum of understanding with Jayaram Pillai, managing director of National Instruments, India, Russia and Arabia, for the collaboration. The collaboration will extend to fields like patient monitoring, cardiovascular screening, surgical oncology and neonatal care.
NI will fund and provide software and hardware. Mohanasankar said, "NI's design and development platforms will allow us to shorten the time from idea to prototype, and quickly move the device for field testing and validation, which is crucial in med-tech R&D."
Jayaram Pillai of NI said, "We will support HTIC's initiatives with NI's graphical system design platform for product development and large scale deployment of affordable healthcare devices for emerging countries."
Govt allows Chinese power gear firms to set up service centres
New Delhi: The Cabinet on Thursday has cleared a proposal to sign a memorandum of understanding (MoU) with China that allows Chinese power equipment manufacturers to set up service centres in India.
Chinese equipment gained popularity because of low costs and cheap financing. Companies such as Reliance Power, Jindal Steel and Power, Haryana Power Generation Corporation, and JSW use Chinese equipment in their plants. Indian power developers have purchased equipment for nearly 61,000 MW from Chinese companies.
During the 11 {+t} {+h} Five-Year Plan (2007-12), equipment for 18,000 MW were already sourced from Chinese suppliers, while another 43,000 MW are under various stages of commissioning during the 12 {+t} {+h} Plan (2012-17) with equipment from China.
“There have been cases where power plants were shut for months due to lack of service network in the country. There have been instances where equipment had to be sent to China for repair and power plants shut for 10 months,” a Power Ministry official said.
Though, currently the law does not restrict foreign equipment providers from setting up a manufacturing and service base here, not many have used this opportunity, as guidelines were not in place.
“The Power Ministry and China’s National Energy Administration are likely to sign a memorandum of understanding (MOU) soon to facilitate setting up Power Equipment Service Centres (PESCs) in the country,” a senior Government official told Business Line.
The MoU could be signed during Prime Minister Manmohan Singh’s visit to China starting October 22.
In September, India and China held talks to improve business ties between the countries. During the meet, India spoke about the need for service maintenance backup for Chinese equipment installed here.
The MoU will only define general ways of co-operation between the parties to establish PESCs. “These will be set up on commercial terms. At the same time, costs and terms of servicing power equipment will be decided by the service centres and the users,” he said while adding that the pact will be valid for five years.
However, setting up a service centre in India would not qualify Chinese companies to supply equipment to the ultra mega power projects (UMPPs).
In August, an Empowered Group of Ministers (eGoM) headed by Defence Minister A. K. Antony decided that those bidding for UMPPs will have to source equipment from domestic manufacturers. This move is bound to help companies such as BHEL, L&T and Bharat Forge-Alstom, as all of them are suffering from lack of fresh orders.
Chinese equipment gained popularity because of low costs and cheap financing. Companies such as Reliance Power, Jindal Steel and Power, Haryana Power Generation Corporation, and JSW use Chinese equipment in their plants. Indian power developers have purchased equipment for nearly 61,000 MW from Chinese companies.
During the 11 {+t} {+h} Five-Year Plan (2007-12), equipment for 18,000 MW were already sourced from Chinese suppliers, while another 43,000 MW are under various stages of commissioning during the 12 {+t} {+h} Plan (2012-17) with equipment from China.
“There have been cases where power plants were shut for months due to lack of service network in the country. There have been instances where equipment had to be sent to China for repair and power plants shut for 10 months,” a Power Ministry official said.
Though, currently the law does not restrict foreign equipment providers from setting up a manufacturing and service base here, not many have used this opportunity, as guidelines were not in place.
“The Power Ministry and China’s National Energy Administration are likely to sign a memorandum of understanding (MOU) soon to facilitate setting up Power Equipment Service Centres (PESCs) in the country,” a senior Government official told Business Line.
The MoU could be signed during Prime Minister Manmohan Singh’s visit to China starting October 22.
In September, India and China held talks to improve business ties between the countries. During the meet, India spoke about the need for service maintenance backup for Chinese equipment installed here.
The MoU will only define general ways of co-operation between the parties to establish PESCs. “These will be set up on commercial terms. At the same time, costs and terms of servicing power equipment will be decided by the service centres and the users,” he said while adding that the pact will be valid for five years.
However, setting up a service centre in India would not qualify Chinese companies to supply equipment to the ultra mega power projects (UMPPs).
In August, an Empowered Group of Ministers (eGoM) headed by Defence Minister A. K. Antony decided that those bidding for UMPPs will have to source equipment from domestic manufacturers. This move is bound to help companies such as BHEL, L&T and Bharat Forge-Alstom, as all of them are suffering from lack of fresh orders.
Hungary and India Sign Agreement for Promotion of Traditional Medicines
New Delhi: In an important initiative taken by India, Republic of Hungary has signed a bilateral agreement with India for promotion and development of traditional systems of medicine. The Memorandum of Understanding was signed on behalf of India by Smt. Santosh Chowdhary, Union Minister of State for Health & Family Welfare and Mr. Zolton Banog, Minister of National Resources of Hungary in the presence of Dr. Manmohan Singh, Prime Minister of India and Mr. Viktor Orban, Prime Minister of Hungary, at Hyderabad House, here today.The Republic of Hungary has considerable interest in Indian traditional systems of medicine especially Ayurveda.
The main objective of this MoU is to strengthen, promote and develop cooperation in the field of traditional systems of medicine between the two countries on the basis of equality and mutual benefits. The MoU encourages and promotes cooperation to enhance the use of traditional systems of medicine, exchange of regulatory information on operational licensing to practice traditional medicine and on marketing authorization of medicines in both countries, promote the exchange of experts for training of practitioners, para-medics, scientists, teaching professionals and students in traditional systems of medicine. The signing of MoU will give boost to bilateral cooperation between the two countries in the areas of traditional medicines which will open new vistas for exploring the potential of economic, commercial and tourism development in both the countries.
Smt. Santosh Chowdhary has expressed hope that signing of such bilateral agreements, India will be able to establish the Indian systems of medicines namely Ayurveda, Unani, Yoga and Naturopathy, Siddha, Homeophathy and Sowa-Rigpa (Namchi) that will help in establishing the global recognition of India’s well established systems in the world over. It may be mentioned that India has already signed such agreements with Malaysia and Trininad and Tobago and is in the process of signing agreements with Russia, Nepal, Srilanka, Serbia and Mexico in near future.
The main objective of this MoU is to strengthen, promote and develop cooperation in the field of traditional systems of medicine between the two countries on the basis of equality and mutual benefits. The MoU encourages and promotes cooperation to enhance the use of traditional systems of medicine, exchange of regulatory information on operational licensing to practice traditional medicine and on marketing authorization of medicines in both countries, promote the exchange of experts for training of practitioners, para-medics, scientists, teaching professionals and students in traditional systems of medicine. The signing of MoU will give boost to bilateral cooperation between the two countries in the areas of traditional medicines which will open new vistas for exploring the potential of economic, commercial and tourism development in both the countries.
Smt. Santosh Chowdhary has expressed hope that signing of such bilateral agreements, India will be able to establish the Indian systems of medicines namely Ayurveda, Unani, Yoga and Naturopathy, Siddha, Homeophathy and Sowa-Rigpa (Namchi) that will help in establishing the global recognition of India’s well established systems in the world over. It may be mentioned that India has already signed such agreements with Malaysia and Trininad and Tobago and is in the process of signing agreements with Russia, Nepal, Srilanka, Serbia and Mexico in near future.
Zydus Cadila, Pieris join hands for drug development
Ahmedabad: Pharmaceutical firm Zydus Cadila and Germany-based Pieris AG on Wednesday announced an alliance for development and commercialisation of multiple novel Anticalin-based protein therapeutics.
The collaboration combines Pieris’ drug discovery and early development capabilities with Zydus’ expertise in biologics development, regulatory affairs and biologics manufacturing.
Under the terms of the agreement, Zydus will take the lead in advancing Anticalin drug candidates through formal pre-clinical development and into clinical development, undertaking drug development in accordance with the ICH guidelines.
Zydus has been granted exclusive marketing rights in India and several other emerging markets, while Pieris retains exclusive marketing rights in key developed markets, according to a press statement.
Pieris CEO, Stephen Yoder, said: “this collaboration will allow Pieris to unlock value on a global scale in a cost-effective manner, significantly expanding the number of proprietary Anticalin programmes we can advance into clinical trials.
The collaboration combines Pieris’ drug discovery and early development capabilities with Zydus’ expertise in biologics development, regulatory affairs and biologics manufacturing.
Under the terms of the agreement, Zydus will take the lead in advancing Anticalin drug candidates through formal pre-clinical development and into clinical development, undertaking drug development in accordance with the ICH guidelines.
Zydus has been granted exclusive marketing rights in India and several other emerging markets, while Pieris retains exclusive marketing rights in key developed markets, according to a press statement.
Pieris CEO, Stephen Yoder, said: “this collaboration will allow Pieris to unlock value on a global scale in a cost-effective manner, significantly expanding the number of proprietary Anticalin programmes we can advance into clinical trials.
Prism Cement first to get Italian quality certification
Mumbai: Prism Cement Ltd has become the first Indian company to get the Quality Council of India’s (QCI) certification for its ready-mix concrete (RMC) plant in Kochi, Kerala. The unit has a production capacity of 1.08 lakh cubic metres a year.
The company received the certification from ICQM (Institute for Certification and Quality Mark) , a leading Italian certification body authorised to oversee QCI compliance.
The QCI audit for ready-mix concrete was launched in May in consultation with the Central Public Works Department, the Building Materials and Technology Promotion Council, the Ministry of Housing and Urban Poverty Alleviation and the Ready-Mixed Concrete Manufacturers’ Association.
Venugopal Panicker, Executive Director (RMC Readymix division), told Business Line the QCI scheme was an independent third-party audit that would instil confidence on the quality of RMC being used by customers.
“We are now preparing to implement the scheme at all our 88 plants across the country. The audit is made in every six months to ensure the quality process is embedded in the system.”
The QCI audit includes a check on plant and machinery, testing facilities, the control mechanism , the properties of concrete ingredients and technical skill sets of the manpower at the units, besides a test on the final product quality.
Prism’s RMC production capacity stands at 70 lakh cubic metres per annum. While globally 70 per cent of the cement produced is sold in the form of RMC, it is just 10 per cent in India.
Moving away from the general mix of cement, sand and water, companies have adopted various technological innovations to enhance the quality of RMC to cater to the needs of construction companies. Right from lightweight concrete to coloured concrete to temperature control concrete, companies have used chemicals to alter the nature of concrete.
Though established cement companies such as ACC, Ambuja Cements, UltraTech Cement and Prism Cement have all-India presence, nearly 60 per cent of the RMC market is controlled by unorganised players.
Unlike ISI mark on steel bars, it is not mandatory for RMC units to comply with any quality certification.
The company received the certification from ICQM (Institute for Certification and Quality Mark) , a leading Italian certification body authorised to oversee QCI compliance.
The QCI audit for ready-mix concrete was launched in May in consultation with the Central Public Works Department, the Building Materials and Technology Promotion Council, the Ministry of Housing and Urban Poverty Alleviation and the Ready-Mixed Concrete Manufacturers’ Association.
Venugopal Panicker, Executive Director (RMC Readymix division), told Business Line the QCI scheme was an independent third-party audit that would instil confidence on the quality of RMC being used by customers.
“We are now preparing to implement the scheme at all our 88 plants across the country. The audit is made in every six months to ensure the quality process is embedded in the system.”
The QCI audit includes a check on plant and machinery, testing facilities, the control mechanism , the properties of concrete ingredients and technical skill sets of the manpower at the units, besides a test on the final product quality.
Prism’s RMC production capacity stands at 70 lakh cubic metres per annum. While globally 70 per cent of the cement produced is sold in the form of RMC, it is just 10 per cent in India.
Moving away from the general mix of cement, sand and water, companies have adopted various technological innovations to enhance the quality of RMC to cater to the needs of construction companies. Right from lightweight concrete to coloured concrete to temperature control concrete, companies have used chemicals to alter the nature of concrete.
Though established cement companies such as ACC, Ambuja Cements, UltraTech Cement and Prism Cement have all-India presence, nearly 60 per cent of the RMC market is controlled by unorganised players.
Unlike ISI mark on steel bars, it is not mandatory for RMC units to comply with any quality certification.
Gamesa India signs order for 54 MW wind power project in Andhra Pradesh
Chennai: Wind Power company Gamesa Wind Turbines has won an order to set up a 54 MW wind power project for a power & utility development company in Andhra Pradesh.
Under this contract Gamesa would be supplying 27 units of 2 MW turbines at Tagguparthi, Andhra Pradesh. The commissioning is scheduled to be completed by May 2014. Gamesa would be responsible for site development, supply & commissioning of the turbines. The agreement also includes a comprehensive Operations & Maintenance (O&M) agreement for 10 years, a statement from the company said.
"With the GBI (generation based incentives scheme) now in place, we look forward to a very promising future," said Ramesh Kymal, Chairman and Managing Director of Gamesa India.
Gamesa is also working on setting up a 46 MW wind power project in the same district of Tagguparthi, Andhra Pradesh for ITC Paperboards and Specialty Papers Division.
The orders come at a time when the wind power market in India is tepid with capacity additions last year falling to 1700MW compared with 3200MW in 2011.Capacity additions, however, are expected to pick up over the next few months after the central government recently reinstated the GBI scheme where companies will be paid an incentive of 50paise for every unit of wind power they generate.
Gamesa India has so far installed more than 900 MW along with managing the operation and maintenance services on these turbines. It also has on hand orders for about 1000 MW, about 600 MW of which will be commissioned this year and the rest carried forward for next year. The company also manages capacity of more than 800 MW under O&M agreements.
Under this contract Gamesa would be supplying 27 units of 2 MW turbines at Tagguparthi, Andhra Pradesh. The commissioning is scheduled to be completed by May 2014. Gamesa would be responsible for site development, supply & commissioning of the turbines. The agreement also includes a comprehensive Operations & Maintenance (O&M) agreement for 10 years, a statement from the company said.
"With the GBI (generation based incentives scheme) now in place, we look forward to a very promising future," said Ramesh Kymal, Chairman and Managing Director of Gamesa India.
Gamesa is also working on setting up a 46 MW wind power project in the same district of Tagguparthi, Andhra Pradesh for ITC Paperboards and Specialty Papers Division.
The orders come at a time when the wind power market in India is tepid with capacity additions last year falling to 1700MW compared with 3200MW in 2011.Capacity additions, however, are expected to pick up over the next few months after the central government recently reinstated the GBI scheme where companies will be paid an incentive of 50paise for every unit of wind power they generate.
Gamesa India has so far installed more than 900 MW along with managing the operation and maintenance services on these turbines. It also has on hand orders for about 1000 MW, about 600 MW of which will be commissioned this year and the rest carried forward for next year. The company also manages capacity of more than 800 MW under O&M agreements.
Germany eyes skilled talent from India
Pune: Germany is looking to attract skilled talent from India. In the near future, the country would face a dearth of skilled human resources, especially in manufacturing and engineering sectors, its core strength.
The reason? In the next few years, half the German population would be aged more than 60.
Speaking to Business Standard, Michael Siebert, consul general of the German Consulate in Mumbai, said, “Due to demographic issues, half the German population would be aged more than 60. We need at least 40,000 skilled employees for various sectors, especially engineering. India has a lot of job opportunities in Germany. It has a lot of quality young people who would have a lot of opportunities, not only in manufacturing and automobiles, but also in service sectors such as finance, insurance, information technology, entertainment, publication and emerging sectors such as hospitality.”
Initially, German companies are eying local talent for their Indian subsidiaries. They plan to relocate the hired lot to Germany for a few years, in due course of time. The companies also have a similar policy for markets such as Poland and Brazil. A few German universities are attracting Indian students for research-based or doctoral studies. However, Germany does want to turn itself into an education market like the UK or Australia. This is because it seeks to enroll only quality students.
Germany is organising job fairs in India under the programme ‘Trained in GermanY’. In this, it is aided by the Indo-German Chamber of Commerce, Pune, and Alumniportal Deutschland, the German ministry for economic cooperation and development and the federal foreign office.
Siebert said research departments in Germany were affected by the shortage of skilled employees. Also, in the BRICS (Brazil, Russia, India, China and South Africa) countries, there was increasing demand and competition for young and educated people. German companies located in BRICS nations valued local employees who had studied or been trained in Germany, particularly because they were familiar with the German economy, culture and language, he said.
Currently, trade between India and Germany stands at euro 18 billion. Also, there is a lot of technology and knowledge transfer between the two countries. So far, German companies have invested euro 3 billion in India and provided employment to about 5,00,000 Indian nationals.
Zubin Kabraji, regional director, Indo-German Chamber of Commerce, Pune, said about 300 German companies had set up businesses in Pune. The total investment by these companies here stood at about euro 1 billion. The city also accounts for about 175 joint ventures between Indian and German entities. Most investments are in the manufacturing and automobile sectors.
Alumniportal Deutschland is an online community for people who have studied, conducted research, worked or received training in Germany or at a German institute abroad. On this portal, members can create and maintain professional profiles, take part in discussions and apply for job vacancies. Organisations and companies can create and maintain their profiles, put up job vacancies and scout for candidates for vacancies.
The reason? In the next few years, half the German population would be aged more than 60.
Speaking to Business Standard, Michael Siebert, consul general of the German Consulate in Mumbai, said, “Due to demographic issues, half the German population would be aged more than 60. We need at least 40,000 skilled employees for various sectors, especially engineering. India has a lot of job opportunities in Germany. It has a lot of quality young people who would have a lot of opportunities, not only in manufacturing and automobiles, but also in service sectors such as finance, insurance, information technology, entertainment, publication and emerging sectors such as hospitality.”
Initially, German companies are eying local talent for their Indian subsidiaries. They plan to relocate the hired lot to Germany for a few years, in due course of time. The companies also have a similar policy for markets such as Poland and Brazil. A few German universities are attracting Indian students for research-based or doctoral studies. However, Germany does want to turn itself into an education market like the UK or Australia. This is because it seeks to enroll only quality students.
Germany is organising job fairs in India under the programme ‘Trained in GermanY’. In this, it is aided by the Indo-German Chamber of Commerce, Pune, and Alumniportal Deutschland, the German ministry for economic cooperation and development and the federal foreign office.
Siebert said research departments in Germany were affected by the shortage of skilled employees. Also, in the BRICS (Brazil, Russia, India, China and South Africa) countries, there was increasing demand and competition for young and educated people. German companies located in BRICS nations valued local employees who had studied or been trained in Germany, particularly because they were familiar with the German economy, culture and language, he said.
Currently, trade between India and Germany stands at euro 18 billion. Also, there is a lot of technology and knowledge transfer between the two countries. So far, German companies have invested euro 3 billion in India and provided employment to about 5,00,000 Indian nationals.
Zubin Kabraji, regional director, Indo-German Chamber of Commerce, Pune, said about 300 German companies had set up businesses in Pune. The total investment by these companies here stood at about euro 1 billion. The city also accounts for about 175 joint ventures between Indian and German entities. Most investments are in the manufacturing and automobile sectors.
Alumniportal Deutschland is an online community for people who have studied, conducted research, worked or received training in Germany or at a German institute abroad. On this portal, members can create and maintain professional profiles, take part in discussions and apply for job vacancies. Organisations and companies can create and maintain their profiles, put up job vacancies and scout for candidates for vacancies.
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