Mumbai: South Africa plans to offer special incentives to tap investment from India in the special economic zones being promoted across each of its nine provinces. The country currently has four Industrial Development Zones, primarily focusing on exports.
The South African government had already announced various incentives to attract investment, but it is studying various models adopted by different countries, including China and India, to woo more investment.
Speaking to the media here after a round table with Indian investors, Elizabeth Thabethe, the country’s Deputy Minister for Trade and Industry said it will choose the best practices adopted by each country to arrive at a comprehensive plan to promote investment in the special economic zone, which would focus on boosting domestic demand.
Trade relations between the two countries got a fillip after Coal India and South Africa’s Department of Trade and Industry recently decided to team up to explore mutual prospects in the coal sector. “As a precursor to attract investment, our Government is planning to invest $4 trillion to develop infrastructure across the country,” she said.
Trade target
She said South Africa and India have already surpassed the trade target of $15 billion set for 2015, and a new target would be fixed in the coming days.
Indian companies have invested about $7 billion in South Africa, while South African countries have investments of $610 million in India.
Success in my Habit
Thursday, March 6, 2014
Second Meeting of the India-UAE High Level Joint Task Force on Investments Held in Mumbai
The second meeting of India-UAE High Level Joint Task Force on Investments (HLTFI) was held today in Mumbai. The HLTFI, co-chaired by Shri Anand Sharma, Union Minister of Commerce & Industry and Sheikh Hamed bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince Court, was established in April 2012 as a platform to address mutual issues associated with existing investments between the two countries and to promote and facilitate cross-border investments. More than 30 government and private sector representatives from India and the UAE were present.
The second meeting of the HLTFI made progress on a number of fronts:
Discussions were held on supporting the establishment of a strategic petroleum reserve in India in a manner serving the common strategic interests of both countries and based on the principles of long term strategic partnership and cooperation. The decision was taken to establish another joint working group to make progress on this effort;
Wide-ranging discussions took place on priority sectors of engagement for channelling investments in the two countries;
Discussions took place on expediting the resolution of current pending issues associated with existing UAE investments in India (Etisalat, Emaar & DP World), and a plan of action was agreed for the Legacy Issues sub-working group to address and resolve these issues;
Acknowledged TAQA, the Abu Dhabi-based international energy and water company, as the largest private operator of hydroelectric plants in India, following its acquisition, signed on Saturday 1st March, 2014 in New Delhi, of two hydroelectric plants in India. The equity invested by the TAQA-led consortium in the acquisition of the two hydroelectric plants will amount to approximately INR 3,820 crores (USD 616 million), of which 51% is from TAQA. The consortium will also acquire the assets' non-recourse project debt. The agreement follows the signing of the UAE-India Bilateral Investment Promotion and Protection Agreement in December 2013 and the UAE's commitment at the last HLTFI meeting to invest USD 2 billion in India's infrastructure sector.
The UAE has invited the Indian companies in the renewable energy area to the UAE to meet with Masdar to discuss potential investments.
The UAE and India are significant trading partners and bilateral trade between the two countries is expected to continue its important growth in years to come. Alongside trade, the HLTFI would seek to achieve a similar growth path for investment with a clear roadmap between the two countries.
Commenting on the 2nd meeting of the HLTFI, Shri Sharma underlined India’s status as a major destination for foreign investments and the opportunities that exist for the UAE, especially in infrastructure areas such as roads and highways, power and utilities, civil aviation, ports, renewable energy, urban infrastructure, etc. and participation through the Infrastructure Debt Funds. He also highlighted India’s desire to participate in the hydrocarbon sector in the UAE, especially in the upstream petroleum sector. He also mentioned that he sees greater opportunities for UAE investors as strategic partners in India’s growth story.
Sheikh Hamed bin Zayed Al Nahyan said that “today we have advanced the work of the Joint Task Force, and laid the foundation for further mutually beneficial investments and areas of common interest. We look forward to the ratification of the Bilateral Investment Promotion and Protection Agreement, and the resolution of the outstanding issues identified at our first meeting. Together, our combined efforts will help to further strengthen bilateral trade relations and pave the way for continued strategic dialogue.”
The first meeting of the HLTFI, held in Abu Dhabi in February 2013, resulted in a wide-ranging discussion on matters of mutual interest including the identification of priority sectors of engagement for possible investments in the two countries. Since then, work conducted by the HLTFI to strengthen and develop bilateral relations in the field of investments culminated in the signing, in December, 2013, of a Bilateral Investment Promotion and Protection Agreement (BIPPA), serving as a platform for promotion and reciprocal legal protection of investments in both countries.
As a result of decisions taken during the inaugural meeting of the HLTFI, several joint working groups have been created to address issues of mutual interest in the following sectors: Infrastructure, Investment & Trade, Energy, Manufacturing & Technology, Aviation, Information and Communication Technology (ICT) and Legacy Issues. At today's meeting, an action plan was agreed to expedite progress across all these joint working groups.
The next meeting of the UAE – India High Level Joint Task Force on Investments will be held on a mutually agreed date and location.
The second meeting of the HLTFI made progress on a number of fronts:
Discussions were held on supporting the establishment of a strategic petroleum reserve in India in a manner serving the common strategic interests of both countries and based on the principles of long term strategic partnership and cooperation. The decision was taken to establish another joint working group to make progress on this effort;
Wide-ranging discussions took place on priority sectors of engagement for channelling investments in the two countries;
Discussions took place on expediting the resolution of current pending issues associated with existing UAE investments in India (Etisalat, Emaar & DP World), and a plan of action was agreed for the Legacy Issues sub-working group to address and resolve these issues;
Acknowledged TAQA, the Abu Dhabi-based international energy and water company, as the largest private operator of hydroelectric plants in India, following its acquisition, signed on Saturday 1st March, 2014 in New Delhi, of two hydroelectric plants in India. The equity invested by the TAQA-led consortium in the acquisition of the two hydroelectric plants will amount to approximately INR 3,820 crores (USD 616 million), of which 51% is from TAQA. The consortium will also acquire the assets' non-recourse project debt. The agreement follows the signing of the UAE-India Bilateral Investment Promotion and Protection Agreement in December 2013 and the UAE's commitment at the last HLTFI meeting to invest USD 2 billion in India's infrastructure sector.
The UAE has invited the Indian companies in the renewable energy area to the UAE to meet with Masdar to discuss potential investments.
The UAE and India are significant trading partners and bilateral trade between the two countries is expected to continue its important growth in years to come. Alongside trade, the HLTFI would seek to achieve a similar growth path for investment with a clear roadmap between the two countries.
Commenting on the 2nd meeting of the HLTFI, Shri Sharma underlined India’s status as a major destination for foreign investments and the opportunities that exist for the UAE, especially in infrastructure areas such as roads and highways, power and utilities, civil aviation, ports, renewable energy, urban infrastructure, etc. and participation through the Infrastructure Debt Funds. He also highlighted India’s desire to participate in the hydrocarbon sector in the UAE, especially in the upstream petroleum sector. He also mentioned that he sees greater opportunities for UAE investors as strategic partners in India’s growth story.
Sheikh Hamed bin Zayed Al Nahyan said that “today we have advanced the work of the Joint Task Force, and laid the foundation for further mutually beneficial investments and areas of common interest. We look forward to the ratification of the Bilateral Investment Promotion and Protection Agreement, and the resolution of the outstanding issues identified at our first meeting. Together, our combined efforts will help to further strengthen bilateral trade relations and pave the way for continued strategic dialogue.”
The first meeting of the HLTFI, held in Abu Dhabi in February 2013, resulted in a wide-ranging discussion on matters of mutual interest including the identification of priority sectors of engagement for possible investments in the two countries. Since then, work conducted by the HLTFI to strengthen and develop bilateral relations in the field of investments culminated in the signing, in December, 2013, of a Bilateral Investment Promotion and Protection Agreement (BIPPA), serving as a platform for promotion and reciprocal legal protection of investments in both countries.
As a result of decisions taken during the inaugural meeting of the HLTFI, several joint working groups have been created to address issues of mutual interest in the following sectors: Infrastructure, Investment & Trade, Energy, Manufacturing & Technology, Aviation, Information and Communication Technology (ICT) and Legacy Issues. At today's meeting, an action plan was agreed to expedite progress across all these joint working groups.
The next meeting of the UAE – India High Level Joint Task Force on Investments will be held on a mutually agreed date and location.
Monday, March 3, 2014
Lupin plans to expand drug facility at Vadodara
Mumbai-based pharma player Lupin Ltd, is all set to expand its Vadodara facility to make bulk drugs for cardiac, anti-infectives, anti-tuberculosis, neurology and other segments. The estimated project cost is around Rs 270 crore.
The Dabhasa plant of Lupin near Vadodara is one of the leading bulk drug manufacturing sites for the company. "The Dabhasa plant is one of our major active pharmaceutical ingredient manufacturing sites which also exports. It is a US Food and Drug Administration (USFDA) approved facility," informed a senior company official. Meanwhile, the company is planning to expand the unit to add more bulk drugs belonging to the categories of anti-cholesterol, cardiac, neuropathic, respiratory, anti-infectives among others. The company is a leading global manufacturer of anti-tuberculosis bulk drugs like Ethambutol Hydrochloride and Rifampicin.
A company spokesperson confirmed the development. "It is true that we are expanding our facility in Dabhasa, near Vadodara though we haven’t procured any additional land for the stated expansion. Lupin has been investing prudently in expanding our manufacturing operations by setting up new and expanding existing facilities to meet future demand. The company’s capital expenditure stood at Rs 487.1 crore for FY 2013."
According to a senior official in the state government, who confirmed the development, the project cost could be to the tune of Rs 270 crore, and the company proposes to make around eighty different varieties of bulk drugs at the Dabhasa plant. The additional capacity would be to the tune of 1,480 tonnes per annum.
According to data from the IMS Health, therapies like cardiac, anti-diabetics, respiratory, dermatological have clocked a healthy growth during 2013 calendar year.
While the neuro-CNS segment clocked a 9.6 per cent value growth in the Indian market, others like cardiac grew by 11.1 per cent, anti-diabetics by 19.1 per cent, respiratory by 11 per cent, dermatological by 17.7 per cent and gastro-intestinals by 10.2 per cent.
The Dabhasa plant of Lupin near Vadodara is one of the leading bulk drug manufacturing sites for the company. "The Dabhasa plant is one of our major active pharmaceutical ingredient manufacturing sites which also exports. It is a US Food and Drug Administration (USFDA) approved facility," informed a senior company official. Meanwhile, the company is planning to expand the unit to add more bulk drugs belonging to the categories of anti-cholesterol, cardiac, neuropathic, respiratory, anti-infectives among others. The company is a leading global manufacturer of anti-tuberculosis bulk drugs like Ethambutol Hydrochloride and Rifampicin.
A company spokesperson confirmed the development. "It is true that we are expanding our facility in Dabhasa, near Vadodara though we haven’t procured any additional land for the stated expansion. Lupin has been investing prudently in expanding our manufacturing operations by setting up new and expanding existing facilities to meet future demand. The company’s capital expenditure stood at Rs 487.1 crore for FY 2013."
According to a senior official in the state government, who confirmed the development, the project cost could be to the tune of Rs 270 crore, and the company proposes to make around eighty different varieties of bulk drugs at the Dabhasa plant. The additional capacity would be to the tune of 1,480 tonnes per annum.
According to data from the IMS Health, therapies like cardiac, anti-diabetics, respiratory, dermatological have clocked a healthy growth during 2013 calendar year.
While the neuro-CNS segment clocked a 9.6 per cent value growth in the Indian market, others like cardiac grew by 11.1 per cent, anti-diabetics by 19.1 per cent, respiratory by 11 per cent, dermatological by 17.7 per cent and gastro-intestinals by 10.2 per cent.
Tata Teleservices plans to set up 4,000 wi-fi hotspots in 9 cities
New Delhi: Tata Teleservices plans to set up nearly 4,000 wi-fi hot spots in nine cities across the country in the next two years as it expects internet usage to rise exponentially on the back of year-on-year doubling of smartphone devices in India, a senior executive said. India's smartphone market swelled 171% last year to 44 million devices from 16.2 million in 2012, said research firm IDC India, propelled by the launch of low-end, cost-competitive devices by international and local vendors that have narrowed price gaps between feature phones and smartphones.
Avinash Gabriel, chief operations officer of the wi-fi business at Tata Teleservices, said the company had witnessed a huge increase in data consumption on mobile phones since it began creating wi-fi hotspots for airports, restaurants, cafes and other businesses nine months ago.
"From about 1 lakh log-ins in April last year, we now have 4.4 lakh logins, where the average time spent in each session is 40 minutes. So roughly, we've clocked 35 million minutes of usage as of January, up from 18 million minutes in April," he said.
GSM and CDMA services provider Tata Teleservices has set up 540 wi-fi hot spots countrywide since April. Some of its major contracts include the T3 international airport terminal in New Delhi, the Wankhede cricket stadium in Mumbai, besides five-star hotels and cafes in several cities.
Gabriel said wi-fi solutions were becoming more relevant for mobile phone companies as they entailed lower cost of deployment and rollouts compared with 3G and 4G networks that offer higher speeds while browsing the internet. While airwaves and mobile permits need to be bought for launching 3G and 4G services, wi-fi airwaves are free. Tata Tele's wi-fi hotspots ride on the company's existing fibre networks along with that of Tata Communications Ltd.
Bharti Airtel, Vodafone India and Idea Cellular purchased 3G airwaves for Rs 67,710 crore in a government auction in 2010 and had priced them at a premium to consumers to recover costs.
Avinash Gabriel, chief operations officer of the wi-fi business at Tata Teleservices, said the company had witnessed a huge increase in data consumption on mobile phones since it began creating wi-fi hotspots for airports, restaurants, cafes and other businesses nine months ago.
"From about 1 lakh log-ins in April last year, we now have 4.4 lakh logins, where the average time spent in each session is 40 minutes. So roughly, we've clocked 35 million minutes of usage as of January, up from 18 million minutes in April," he said.
GSM and CDMA services provider Tata Teleservices has set up 540 wi-fi hot spots countrywide since April. Some of its major contracts include the T3 international airport terminal in New Delhi, the Wankhede cricket stadium in Mumbai, besides five-star hotels and cafes in several cities.
Gabriel said wi-fi solutions were becoming more relevant for mobile phone companies as they entailed lower cost of deployment and rollouts compared with 3G and 4G networks that offer higher speeds while browsing the internet. While airwaves and mobile permits need to be bought for launching 3G and 4G services, wi-fi airwaves are free. Tata Tele's wi-fi hotspots ride on the company's existing fibre networks along with that of Tata Communications Ltd.
Bharti Airtel, Vodafone India and Idea Cellular purchased 3G airwaves for Rs 67,710 crore in a government auction in 2010 and had priced them at a premium to consumers to recover costs.
Manipal, Cincinnati varsities ink pact
Mangalore: A statement by Manipal University said here on Friday that the MoU would facilitate collaboration between the two universities in the fields of medicine, engineering, business studies, architecture and design.
Both universities have agreed to cooperate in developing joint research and training programmes for faculty and students. There will also be regular faculty and student exchanges. The two have also agreed to cooperate in the design of new academic programmes and conduct joint international research conferences, seminars and symposia.
H Vinod Bhat, Pro Vice-Chancellor of Manipal University, and Raj Mehta, Vice-Provost for International Affairs, University of Cincinnati, signed the agreement in Manipal recently.
Quoting Bhat, the statement said: "This agreement is part of an ongoing effort by Manipal University to be an institution of high global repute, and we are proud to be associated with a university such as this one."
The discussions with the US university included the extension of the agreement to Manipal's other campuses in Jaipur, Dubai and Kuala Lumpur and also to the possibility of introducing executive education through Manipal Global Education Services based in Bangalore, the statement added.
Both universities have agreed to cooperate in developing joint research and training programmes for faculty and students. There will also be regular faculty and student exchanges. The two have also agreed to cooperate in the design of new academic programmes and conduct joint international research conferences, seminars and symposia.
H Vinod Bhat, Pro Vice-Chancellor of Manipal University, and Raj Mehta, Vice-Provost for International Affairs, University of Cincinnati, signed the agreement in Manipal recently.
Quoting Bhat, the statement said: "This agreement is part of an ongoing effort by Manipal University to be an institution of high global repute, and we are proud to be associated with a university such as this one."
The discussions with the US university included the extension of the agreement to Manipal's other campuses in Jaipur, Dubai and Kuala Lumpur and also to the possibility of introducing executive education through Manipal Global Education Services based in Bangalore, the statement added.
New policy in place for geo-scientific data collection for oil & gas
New Delhi: "Under the policy, permission for conducting geo-scientific survey will be granted by way of an non-exclusive multi-client survey agreement. This policy replaces the earlier model of profit sharing after cost recovery with a one-time project fee," the Ministry said in a statement.
The Directorate-General of Hydrocarbons (DGH) will administer this policy. The regulator will call for bids from companies interested in taking up the project. The service provider shall complete the survey within two years.
The agreement with the service provider will be valid for 12 years, wherein the service provider will be free to licence the data to prospective exploration and production companies.
The project fees will be $10,000 for two years. The survey period can be extended by a maximum of 12 months by paying 60 per cent of the project fees.
A data delivery bank guarantee of $100,000 will have to be provided by the service provider to the DGH.
According to the Ministry, the new policy has been launched in view of the requirement for generation of geo-scientific data to support exploration and production activities and to make the speculative survey model more attractive and easier to implement.
The Directorate-General of Hydrocarbons (DGH) will administer this policy. The regulator will call for bids from companies interested in taking up the project. The service provider shall complete the survey within two years.
The agreement with the service provider will be valid for 12 years, wherein the service provider will be free to licence the data to prospective exploration and production companies.
The project fees will be $10,000 for two years. The survey period can be extended by a maximum of 12 months by paying 60 per cent of the project fees.
A data delivery bank guarantee of $100,000 will have to be provided by the service provider to the DGH.
According to the Ministry, the new policy has been launched in view of the requirement for generation of geo-scientific data to support exploration and production activities and to make the speculative survey model more attractive and easier to implement.
Anand Sharma and UP CM Launch DMIC Project in uttar Pradesh
The Union Minister of Commerce and Industry, Shri Anand Sharma and Chief Minister of Uttar Pradesh, Shri Akhilesh Yadav launched Delhi Mumbai Corridor in Uttar Pradesh, in Lucknow today. "Uttar Pradesh will be the main beneficiary of the Industrial Corridor strategy being pursued by Government of India as it is the meeting point of the Eastern and the Western Corridors. The entire agriculture produce of UP can be linked to cold chains and put on Western Corridor at Dadri. This will enable all agricultural products to reach the ports in record time. The overall impact of the Western and Eastern Corridors and the new Industrial Cities being developed in the Delhi-Mumbai Industrial Corridor project have the potential to create over 30 lakh jobs in UP and enhance the State's Industrial Output by Rs. 24 lakh crores” Said Shri Sharma on the occasion.
The growth of manufacturing sector is an essential condition for sustaining GDP growth rate to 8-9% on a long term basis. Government of India proposes to enhance the share of manufacturing sector in GDP growth from 16% to 25% within a decade and creating 100 million jobs. In this regard, Government of India has announced the pioneering National Manufacturing Policy 2013.
The conceptualization of the DMIC project as an iconic symbol of Indo-Japan strategic partnership was made. It has rapidly moved forward and seven new industrial cities have advanced towards implementation.
The Government has also announced three more Industrial Corridor Projects namely:
Amritsar-Kolkatta Industrial Corridor Project with Eastern Dedicated Freight Corridor as the back bone;
Chennai-Bangalore Industrial Corridor Project;
Bangalore-Mumbai Economic Corridor Project
The Industrial Corridors will lead to the development of futuristic industrial cities with transport connectivity effective and efficient technologies, reliable energy supply and efficient logistics. This will enable India to compete with the best in the manufacturing and investment estimation of the world and have the potential of radically transforming India into global manufacturing hub within a decade.
DMICDC IN UTTAR PRADESH:
Dadri-Noida-Ghaziabad Industrial City:
The vision of this 217 km. Investment Region is to develop an Infrastructure led integrated industrial city which is smart, sustainable, well connected and having state of art support industrial and social infrastructure. The master plan has adopted the following principles:
Developing Industrial City of Future endowed with all the requisite physical & social infrastructure like Water, Power, housing, health, education etc.
Transit Oriented Development: The region to be supported by efficient mass transport system. High intensity mixed land use is proposed to be developed along major transit nodes.
Improved connectivity with Development of intra and inter regional connectivity has been provided as part of the overall planning process. Considering that development of investment region will augment creation of employment opportunity in the region, there would be significant requirements for improving the connectivity.
Focus on Recycling of water and waste and integration of smart technologies.
Industries in sectors viz. Food, Auto, Electrical & Electronics, IT/ITeS, Research & Development, Aerospace, Biotech and Hi tech are proposed in the investment region.
Integrated Industrial Township at Greater Noida:
The Integrated Industrial Township is planned on the area of 302 ha with the key objective to create a "knowledge based ecosystem" integrated with industries leading to innovation and economic development. The project will generate direct industrial employment for about 58,000 workers. It will be planned as the first comprehensive built environment helping the launch of DMIC Investment Region. The project will strengthen the status of Greater Noida and Noida as a manufacturing destination. It will also encourage creation and growth of new businesses by fostering collaboration and innovation, also enhancing the development, transfer, and commercialization of technology.
Integrated Transport Hub at Boraki:
The transport hub along the Delhi-Howrah trunk rail corridor, with state-of-the art Multi-modal Transit facility at Boraki Village is envisioned to be the nucleus of development for Dadri-Noida-Ghaziabad Investment Region, Greater Noida and its upcoming extensions. The project will integrate four transit nodes and user-friendly regional railway terminal, a metro passenger terminal, an ISBT, and the terminal station of the proposed rapid rail connectivity between DNGIR and Delhi International Airport. It shall be supplemented by a Business Centre (equipped with office and business hotel accommodation).
Seemless connectivity between Indira Gandhi International Airport and Dadri-Noida Ghaziabad Investment Region:
With the object of providing fast and adequate rail‐based commuter connectivity to New Delhi, various alignment options are currently being explored to provide fast connectivity from the proposed Boraki Station (catering the population of Noida, Greater Noida and proposed Dadri-Noida-Ghaziabad Investment Region) with the Indira Gandhi International airport. The need of the project has emanated from the long travel time consumed by existing Road based transport systems.
Multi Modal Logistics Hub Project at Dadri:
By virtue of industrial development there would be an immediate need of developing the multi modal logistics hub within the Investment Region. The proposed MMLH is expected to handle 1.05 million TEUs.
The growth of manufacturing sector is an essential condition for sustaining GDP growth rate to 8-9% on a long term basis. Government of India proposes to enhance the share of manufacturing sector in GDP growth from 16% to 25% within a decade and creating 100 million jobs. In this regard, Government of India has announced the pioneering National Manufacturing Policy 2013.
The conceptualization of the DMIC project as an iconic symbol of Indo-Japan strategic partnership was made. It has rapidly moved forward and seven new industrial cities have advanced towards implementation.
The Government has also announced three more Industrial Corridor Projects namely:
Amritsar-Kolkatta Industrial Corridor Project with Eastern Dedicated Freight Corridor as the back bone;
Chennai-Bangalore Industrial Corridor Project;
Bangalore-Mumbai Economic Corridor Project
The Industrial Corridors will lead to the development of futuristic industrial cities with transport connectivity effective and efficient technologies, reliable energy supply and efficient logistics. This will enable India to compete with the best in the manufacturing and investment estimation of the world and have the potential of radically transforming India into global manufacturing hub within a decade.
DMICDC IN UTTAR PRADESH:
Dadri-Noida-Ghaziabad Industrial City:
The vision of this 217 km. Investment Region is to develop an Infrastructure led integrated industrial city which is smart, sustainable, well connected and having state of art support industrial and social infrastructure. The master plan has adopted the following principles:
Developing Industrial City of Future endowed with all the requisite physical & social infrastructure like Water, Power, housing, health, education etc.
Transit Oriented Development: The region to be supported by efficient mass transport system. High intensity mixed land use is proposed to be developed along major transit nodes.
Improved connectivity with Development of intra and inter regional connectivity has been provided as part of the overall planning process. Considering that development of investment region will augment creation of employment opportunity in the region, there would be significant requirements for improving the connectivity.
Focus on Recycling of water and waste and integration of smart technologies.
Industries in sectors viz. Food, Auto, Electrical & Electronics, IT/ITeS, Research & Development, Aerospace, Biotech and Hi tech are proposed in the investment region.
Integrated Industrial Township at Greater Noida:
The Integrated Industrial Township is planned on the area of 302 ha with the key objective to create a "knowledge based ecosystem" integrated with industries leading to innovation and economic development. The project will generate direct industrial employment for about 58,000 workers. It will be planned as the first comprehensive built environment helping the launch of DMIC Investment Region. The project will strengthen the status of Greater Noida and Noida as a manufacturing destination. It will also encourage creation and growth of new businesses by fostering collaboration and innovation, also enhancing the development, transfer, and commercialization of technology.
Integrated Transport Hub at Boraki:
The transport hub along the Delhi-Howrah trunk rail corridor, with state-of-the art Multi-modal Transit facility at Boraki Village is envisioned to be the nucleus of development for Dadri-Noida-Ghaziabad Investment Region, Greater Noida and its upcoming extensions. The project will integrate four transit nodes and user-friendly regional railway terminal, a metro passenger terminal, an ISBT, and the terminal station of the proposed rapid rail connectivity between DNGIR and Delhi International Airport. It shall be supplemented by a Business Centre (equipped with office and business hotel accommodation).
Seemless connectivity between Indira Gandhi International Airport and Dadri-Noida Ghaziabad Investment Region:
With the object of providing fast and adequate rail‐based commuter connectivity to New Delhi, various alignment options are currently being explored to provide fast connectivity from the proposed Boraki Station (catering the population of Noida, Greater Noida and proposed Dadri-Noida-Ghaziabad Investment Region) with the Indira Gandhi International airport. The need of the project has emanated from the long travel time consumed by existing Road based transport systems.
Multi Modal Logistics Hub Project at Dadri:
By virtue of industrial development there would be an immediate need of developing the multi modal logistics hub within the Investment Region. The proposed MMLH is expected to handle 1.05 million TEUs.
Tuesday, February 25, 2014
Honda inaugurates second unit
The unit, developed at an investment of Rs 3,520 crore, will initially produce 60,000 cars per annum on a single-shift basis. A second shift would be commissioned based on market demand.
Hironori Kanayama, president and chief executive officer, Honda Cars India (HCI) said, “With the inauguration of this second plant, we have doubled our production capacity in India. This plant is significant as it will help us realise the target of selling 300,000 units in the country by 2016-17.”
The company would utilise the 450-acre facility to produce entry-level sedan Amaze and would later decide on producing any other models, depending on market demand. "We will produce both petrol and diesel variants of Amaze here.
The production ratio of petrol and diesel variants would depend upon the market demand," informed Kanayama, adding that the production of compact sedan would also continue at its Greater Noida facility.
In order to reduce waiting period of the Amaze, Honda Cars had commenced a third shift at its Greater Noida facility in November last year. The waiting period on the car has since come down to around three weeks.
Rajasthan Chief Minister Vasundhara Raje inaugurated the unit in Tapukara today, which currently employs around 3200 workers.
Driven by demand for the Amaze and newly launched flagship sedan City, Honda has bucked industry trend to post a growth of around 78 per cent and sold over 100,000 units till January this financial year. The company had sold 73,000 units in 2012-13.
To continue the growth momentum, the company has plans to launch two more models in the coming year. Kanayama said: "We will launch Mobilio (multi purpose vehicle) by the second quarter of next fiscal and Jazz before the end of the next financial year."
Honda Motor Company Managing Officer Yoshiyuki Matsumoto said the company has an annual target of 1.2 millio vehicles in the Asia Oceania region by March 2017. "Honda Cars India, which is part of the region, will contribute 25 per cent of the region's sales by 2017, by selling 300,000 cars per annum," he added.
The Tapukara unit, which started producing engine components in the first phase way back in 2008, will play a substantial role in HCIL’s long term growth, Matsumoto said.
He added that over the next few years the plant would become a major hub for exporting both diesel and petrol engine components and other parts to Honda facilities in Southeast Asia. "HCIL’s targeted export turnover for 2013-14 is about Rs 350 crore. This will grow significantly as HCIL expands its exports," he added.
PE investments in realty sector rise 13% at Rs. 7,000 crore in 2013
Hyderabad: Private equity investments in the country’s real estate sector during 2013 registered a 13-per cent increase Rs. 7,000 crore ($1.2 billion), over the Rs. 6,200 crore ($1.1 billion) done in 2012, according to a report by global real estate consultancy Cushman & Wakefield.
The increase was primarily due to rising investments in residential assets and other sectors such as retail and hospitality.
While the number of deals increased to 40 in 2013 compared to 34 in 2012, the average deal size declined marginally, and was approximately Rs. 175 crore.
Overall, PE investments across sectors have increased by 11 per cent, from $9.49 billion in 2012 to $10.5 billion in 2013.
Raising capital
Given the difficult economic conditions, developers are finding it difficult to raise capital through traditional sources and are opting for alternative means , the report states.
Sanjay Dutt, Executive Managing Director (South Asia), Cushman & Wakefield said: “A number of large global investors, including a number of sovereign funds, have taken the first move by partnering with successful local investors and developers for investing in the Indian real estate market. This is expected to result in high transaction activity, especially in income yielding commercial office assets during 2014.”
The total Foreign Direct Investment inflow in construction development for the third quarter of 2013 was Rs. 3,200 crore, which is the highest quarterly investment since Q3 of 2009.
FDI inflow for the first three quarters of 2013 in construction development was Rs. 5,500 crore, a 25 per cent increase from the same period in 2012.
Bangalore continued to witness the highest level of transaction activity in 2013 with overall investments of approximately Rs. 2,200 crore, though it declined by 33 per cent from 2012.
Both Pune and NCR witnessed an increase in transaction volume in 2013.
Mumbai witnessed a decline of approximately 15 per cent in investments for 2013 to Rs. 1,100 crore. However, investment activity in the city is expected to increase with a few large deals in office assets being currently in the pipeline.
The increase was primarily due to rising investments in residential assets and other sectors such as retail and hospitality.
While the number of deals increased to 40 in 2013 compared to 34 in 2012, the average deal size declined marginally, and was approximately Rs. 175 crore.
Overall, PE investments across sectors have increased by 11 per cent, from $9.49 billion in 2012 to $10.5 billion in 2013.
Raising capital
Given the difficult economic conditions, developers are finding it difficult to raise capital through traditional sources and are opting for alternative means , the report states.
Sanjay Dutt, Executive Managing Director (South Asia), Cushman & Wakefield said: “A number of large global investors, including a number of sovereign funds, have taken the first move by partnering with successful local investors and developers for investing in the Indian real estate market. This is expected to result in high transaction activity, especially in income yielding commercial office assets during 2014.”
The total Foreign Direct Investment inflow in construction development for the third quarter of 2013 was Rs. 3,200 crore, which is the highest quarterly investment since Q3 of 2009.
FDI inflow for the first three quarters of 2013 in construction development was Rs. 5,500 crore, a 25 per cent increase from the same period in 2012.
Bangalore continued to witness the highest level of transaction activity in 2013 with overall investments of approximately Rs. 2,200 crore, though it declined by 33 per cent from 2012.
Both Pune and NCR witnessed an increase in transaction volume in 2013.
Mumbai witnessed a decline of approximately 15 per cent in investments for 2013 to Rs. 1,100 crore. However, investment activity in the city is expected to increase with a few large deals in office assets being currently in the pipeline.
Gartner: Government IT spend in India to reach $6.4 billion in 2014
This forecast includes spending by Government (Government is composed of State and regional governments and Central government agencies.) on internal IT (including personnel), hardware, software, external IT services and telecommunications.
“IT services, which include consulting, implementation, IT outsourcing and business process outsourcing, will be the largest overall spending category throughout the forecast period within the Government sector,” said Anurag Gupta, research director at Gartner.
“IT services are expected to grow 3.8 per cent in 2013 to reach $1.46 billion in 2014, up from $1.37 billion in 2013 — with the business process outsourcing segment growing 16.3 per cent in 2014,” Gupta added.
Internal services (referring to salaries and benefits paid to the information services staff) will achieve a growth rate of 9.4 per cent in 2014.
The information services staff includes all company employees that plan, develop, implement and maintain information systems. Software will achieve the highest growth rate within spending categories with 10.3 per cent in 2014 to reach $758 million in 2014, up from $687 million in 2013, led by growth in vertical specific software (software applications that are unique to a vertical industry).
Information and communication technology service providers will benefit by eGovernment projects and citizen participation aided by expansion of affordable broadband connectivity and mobile solutions, it said.
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