New Delhi: The growth in information technology hardware market is expected to dip this year owing to flat PC sales. The growth is expected to be around 30 per cent this fiscal year compared with 37 per cent last year.
Overall sales are projected to touch $17 billion against $12.43 billion, the Manufacturers’ Association of Information Technology (MAIT) said on Wednesday.
Desktop & laptop
In the desktop PC and laptop segment, MAIT expects a flattish growth of around 3 per cent. It expects the PC market to sell around 12.21 million units in 2014-15 compared with 11.85 million units last year. “Last year was not great for the market because of lot of challenges such as foreign exchange fluctuations. A quick change in exchange rates matters a lot for the industry. But, having said that, we are optimistic about next two years in the hope of better economy with the new Government,” Amar Babu, President, MAIT, told reporters here.
According to its latest study done along with IMRB International, while most of the products are expected to be in positive numbers, the desktop sales are expected to decline by 16 per cent because of the low demand from consumers.
MAIT expects the desktop PC sales to come down to 4.21 million units against 5.01 million units in 2013-14. The most positive outlook is for smartphones, which is expected to grow by 91 per cent this year to 100 million units compared with 52.43 million units last year. On the printers’ side, MAIT expects the overall sales to grow by 22 per cent to 3.47 million units in the current year compared with 3.10 million units last year.
Tablet sales
Similarly, tablet computers are expected to grow at 4.26 million units, up 27 per cent from 3.35 million units in 2013-14, and laptops by 17 per cent to eight million units from 6.84 million units last year.
However, tablet sales growth was comparatively low as against previous year (424 per cent up) due to low base and also because of the norms set by the Government with Bureau of Indian Standards’ safety and quality tags on such products.
“Lot of low-cost tablet makers could not release their products in the market due to new norms, which affected the sales,” Babu said. As per the new norms (Compulsory Registration Order, 2012), set by the Government, there is a mandatory testing and labelling from BIS for 15 electronic products, including video games, laptops, dot matrix printers and microwave ovens to ensure safety standards.
Budget expectations
On the expectations from the Union Budget, Babu said that as per their demand earlier, the Government should address issues such as inverted duty structure on IT hardware, concession rate of duty for personal computers and tablets, dual taxation on sale of packaged or canned software and early implementation of goods and service tax.
Success in my Habit
Sunday, June 29, 2014
Saturday, June 21, 2014
Oil India, Gazprom signs MoU for co-operation in exploration and production
New Delhi: Oil India Limited announced on Thursday that the company has signed a Memorandum of Understanding with Russia’s Gazprom International for evaluating and pursuing exploration and production opportunities across the world.
The MoU also provides an option to the companies for technological association and any area or project of common interest would also be covered. The MoU was signed in Moscow by Oil India’s Chairman and Managing Director S K Srivastava and Valery Goulev, Managing Director of Gazprom International.
Gazprom is one of the largest oil and gas companies in the world and the largest producer of natural gas with the largest natural gas reserves in the world. It is also the only producer and exporter of natural gas in Russia.
“This is a very strong association and we should take advantage of leveraging each other’s strengths,” said Srivastava of Oil India in a statement. “Our countries have a history of close co-operation and very good relations and I sincerely hope that our partnership will grow from strength to strength and yield results in the shortest time possible.”
The MoU also provides an option to the companies for technological association and any area or project of common interest would also be covered. The MoU was signed in Moscow by Oil India’s Chairman and Managing Director S K Srivastava and Valery Goulev, Managing Director of Gazprom International.
Gazprom is one of the largest oil and gas companies in the world and the largest producer of natural gas with the largest natural gas reserves in the world. It is also the only producer and exporter of natural gas in Russia.
“This is a very strong association and we should take advantage of leveraging each other’s strengths,” said Srivastava of Oil India in a statement. “Our countries have a history of close co-operation and very good relations and I sincerely hope that our partnership will grow from strength to strength and yield results in the shortest time possible.”
Domestic air traffic rises 5.3% in May
Mumbai: Budget carrier IndiGo retained its leadership position in domestic skies with a 31.7 per cent market share in May. However, its loads have been showing a declining trend in the first five months of the year, compared to the same period last year. In comparison, Air India is showing an uptick in its occupancy on a year-on-year basis.
Domestic air traffic was up 5.3 per cent in May, compared to the same month in 2013 with airlines carrying about six million passengers, up from 5.7 million passengers in May 2013. Domestic airline capacity was up 7.5 per cent on a year-on-year basis and demand showed growth.
May is the peak season for travel as it coincides with school and college holidays.
IndiGo retained the No 1 spot among domestic airlines followed by Jet Airways-Jet Konnect, which secured a 21 per cent share and Air India, 18.6 per cent. Data from the Directorate-General of Civil Aviation shows only IndiGo and GoAir have added market share since January at the expense of others. IndiGo's share increased 27.7 per cent in January to 31.7 per cent in May and GoAir’s share rose from 8.4 per cent to 9.8 per cent in the same period. The market share of all other airlines declined.
However, in terms of loads, Air India put up a good show. The government carrier's load factor increased from 74.2 per cent in May 2013 to 79.5 per cent last month. IndiGo had the highest load factors among all airlines (82 per cent) last month. However, IndiGo's load factor fell from 89 per cent in May 2013 to 82 per cent last month. In fact, IndiGo’s loads in January-May 2014 have been lower than in the first five months of 2013. Over the same period, Air India's loads have shown a growth on a year-on-year basis. An industry source said one of the reasons for the fall in IndiGo’s load factors is the expansion in capacity and the airline added nine planes last year. “One reason why we see Air India's loads better than IndiGo in certain months is because Air India flies planes with fewer seats. All of IndiGo's planes have 180 seats and SpiceJet Boeing 737s have 189 seats and both airlines carry more passengers per flight. Air India's planes have a business class seating and thus have fewer seats,” said the source.
IndiGo did not respond to an email query on topic.
“Drop in share is due to modest reduction in capacity vis-a-vis market capacity. SpiceJet load factors have shot up since earlier this year since we introduced the new network on March 30 and is now amongst the top,” said a SpiceJet spokesperson.
“In April and May, traffic has risen five per cent, which is an encouraging trend. This could be an early sign of a revival in demand catalysed by flash sales and promotions,” said Sharat Dhall, president, Yatra.com.
Airline executives, however, remain cautious. “Unless we see some serious cost correction, there will be no revival. Capacity continues to grow at eight-to-nine per cent and demand is growing at four to five per cent. The first half of June has been good for airlines, but once schools and colleges re-open, the occupancy will tank,” said the senior executive with a private airline.
GO INDIGO
31.7% Market share of Indigo in May. This was followed by Jet Airways-Jet Konnect with 21% and Air India with 18.6%
6 mn Number of passengers who travelled via air in May as against 5.7 mn in May 2013
7.5% Increase in domestic airline capacity on year-on-year basis
79.5% Air India's load factor in May this year as against 74.2% in the same period last year
82% Load factor of IndiGo, highest among all airlines, but 7% decline from May 2013
Domestic air traffic was up 5.3 per cent in May, compared to the same month in 2013 with airlines carrying about six million passengers, up from 5.7 million passengers in May 2013. Domestic airline capacity was up 7.5 per cent on a year-on-year basis and demand showed growth.
May is the peak season for travel as it coincides with school and college holidays.
IndiGo retained the No 1 spot among domestic airlines followed by Jet Airways-Jet Konnect, which secured a 21 per cent share and Air India, 18.6 per cent. Data from the Directorate-General of Civil Aviation shows only IndiGo and GoAir have added market share since January at the expense of others. IndiGo's share increased 27.7 per cent in January to 31.7 per cent in May and GoAir’s share rose from 8.4 per cent to 9.8 per cent in the same period. The market share of all other airlines declined.
However, in terms of loads, Air India put up a good show. The government carrier's load factor increased from 74.2 per cent in May 2013 to 79.5 per cent last month. IndiGo had the highest load factors among all airlines (82 per cent) last month. However, IndiGo's load factor fell from 89 per cent in May 2013 to 82 per cent last month. In fact, IndiGo’s loads in January-May 2014 have been lower than in the first five months of 2013. Over the same period, Air India's loads have shown a growth on a year-on-year basis. An industry source said one of the reasons for the fall in IndiGo’s load factors is the expansion in capacity and the airline added nine planes last year. “One reason why we see Air India's loads better than IndiGo in certain months is because Air India flies planes with fewer seats. All of IndiGo's planes have 180 seats and SpiceJet Boeing 737s have 189 seats and both airlines carry more passengers per flight. Air India's planes have a business class seating and thus have fewer seats,” said the source.
IndiGo did not respond to an email query on topic.
“Drop in share is due to modest reduction in capacity vis-a-vis market capacity. SpiceJet load factors have shot up since earlier this year since we introduced the new network on March 30 and is now amongst the top,” said a SpiceJet spokesperson.
“In April and May, traffic has risen five per cent, which is an encouraging trend. This could be an early sign of a revival in demand catalysed by flash sales and promotions,” said Sharat Dhall, president, Yatra.com.
Airline executives, however, remain cautious. “Unless we see some serious cost correction, there will be no revival. Capacity continues to grow at eight-to-nine per cent and demand is growing at four to five per cent. The first half of June has been good for airlines, but once schools and colleges re-open, the occupancy will tank,” said the senior executive with a private airline.
GO INDIGO
31.7% Market share of Indigo in May. This was followed by Jet Airways-Jet Konnect with 21% and Air India with 18.6%
6 mn Number of passengers who travelled via air in May as against 5.7 mn in May 2013
7.5% Increase in domestic airline capacity on year-on-year basis
79.5% Air India's load factor in May this year as against 74.2% in the same period last year
82% Load factor of IndiGo, highest among all airlines, but 7% decline from May 2013
SEBI unveils measures to revitalise primary market
New Delhi: In an effort to improve retail participation and boost the primary market, the Securities and Exchange Board of India announced a slew of measures on Thursday. They include reservation and discounts for retail investors under the offer for sale (OFS) mechanism and a hike in the minimum shareholding for public sector undertakings (PSUs).
“We have broadened the scope of OFS, which though well accepted by the market, has been criticised for no retail participation,” SEBI Chairman UK Sinha told reporters after a three-hour-long meeting of the SEBI board.
It was decided that there would be minimum 10 per cent reservation for retail investors in this mechanism. They could also be given a discount.
Introduced in 2011-12, the OFS or auction method is used to sell shares through stock exchanges and is used mainly for the Government’s divestment programme.
Wider scope
“We have also extended the scope of companies (that can use the OFS mechanism) to the top 200 companies from 100 earlier. We have also provided that not only the promoters group but also any entity owning 10 per cent or more can participate in an OFS through stock exchanges,” Sinha said.
He added that 10 per cent dilution in one go through the bourses would not be disruptive.
According to Prime Database, an independent primary market monitoring firm, a total of Rs. 13,518 crore was mobilised through the OFS route in 2011-12, Rs. 28,024 crore in 2012-13, and Rs. 6,859 crore in 2013-14.
Public holding in PSUs
The regulator has also decided to bring the minimum public shareholding in PSUs at par with private sector companies. This means all listed PSUs will have to maintain a 25 per cent minimum public shareholding as against 10 per cent currently. Sinha said that 36 (out of 50) listed PSUs would have to comply with the norms within three years.
SEBI has also decided to remove the anomaly regarding issue size of an initial public offering (IPO). Now, the minimum dilution to the public in an IPO will be 25 per cent or Rs. 400 crore, whichever is lower, for companies with post-market capitalisation (number of shares offered multiplied by issue price).
With this, Sinha said the existing anomaly would be corrected. At present, if the post-issue capitalisation was more than Rs. 4,000 crore, the issuer was supposed to issue only 10 per cent or Rs. 400 crore worth of shares. Whereas, if capitalisation is even a rupee less than Rs. 4,000 crore, the promoters were required to issue 25 per cent shares, or close to Rs. 1,000 crore.
Greater participation
Prithvi Haldea, Chairman of Prime Data Base, said that with the removal of this anomaly, companies with strong fundamentals or those expecting better valuation in the future would come into the market.
As a part of primary market reforms, the regulator also decided to increase the anchor investor’s bucket to 60 per cent from the current requirement of 30 per cent of the institutional bucket. It also permitted bonus shares issued a year prior to filing of the draft document for a public issue to be offered for sale. SEBI expects these measures to breathe new life into the primary market.
“We have broadened the scope of OFS, which though well accepted by the market, has been criticised for no retail participation,” SEBI Chairman UK Sinha told reporters after a three-hour-long meeting of the SEBI board.
It was decided that there would be minimum 10 per cent reservation for retail investors in this mechanism. They could also be given a discount.
Introduced in 2011-12, the OFS or auction method is used to sell shares through stock exchanges and is used mainly for the Government’s divestment programme.
Wider scope
“We have also extended the scope of companies (that can use the OFS mechanism) to the top 200 companies from 100 earlier. We have also provided that not only the promoters group but also any entity owning 10 per cent or more can participate in an OFS through stock exchanges,” Sinha said.
He added that 10 per cent dilution in one go through the bourses would not be disruptive.
According to Prime Database, an independent primary market monitoring firm, a total of Rs. 13,518 crore was mobilised through the OFS route in 2011-12, Rs. 28,024 crore in 2012-13, and Rs. 6,859 crore in 2013-14.
Public holding in PSUs
The regulator has also decided to bring the minimum public shareholding in PSUs at par with private sector companies. This means all listed PSUs will have to maintain a 25 per cent minimum public shareholding as against 10 per cent currently. Sinha said that 36 (out of 50) listed PSUs would have to comply with the norms within three years.
SEBI has also decided to remove the anomaly regarding issue size of an initial public offering (IPO). Now, the minimum dilution to the public in an IPO will be 25 per cent or Rs. 400 crore, whichever is lower, for companies with post-market capitalisation (number of shares offered multiplied by issue price).
With this, Sinha said the existing anomaly would be corrected. At present, if the post-issue capitalisation was more than Rs. 4,000 crore, the issuer was supposed to issue only 10 per cent or Rs. 400 crore worth of shares. Whereas, if capitalisation is even a rupee less than Rs. 4,000 crore, the promoters were required to issue 25 per cent shares, or close to Rs. 1,000 crore.
Greater participation
Prithvi Haldea, Chairman of Prime Data Base, said that with the removal of this anomaly, companies with strong fundamentals or those expecting better valuation in the future would come into the market.
As a part of primary market reforms, the regulator also decided to increase the anchor investor’s bucket to 60 per cent from the current requirement of 30 per cent of the institutional bucket. It also permitted bonus shares issued a year prior to filing of the draft document for a public issue to be offered for sale. SEBI expects these measures to breathe new life into the primary market.
ICAI signs memorandum of understanding with the Saudi Organization for certified public accountants
New Delhi: The Institute of Chartered Accountants of India signed a Memorandum of Understanding with the Saudi Organization for Certified Public Accountants (SOCPA) yesterday at ICAI Bhawan, New Delhi.
The MoU interalia provides that both ICAI and SOCPA would be working together in establishing possible co-operation in respect of Corporate Governance, technical research and advice, quality assurance, forensic accounting, issues for Small and Medium Sized Practices (SMPs) etc.
As ICAI has taken upon itself being a mentor and collaborative partner to transition economies, developing of accountancy profession in Saudi Arabia is a step forward in achieving the desired goal.
Mr. Mohammad Alaqeel, Assistant Secretary General for Membership and Professional Development, SOCPA stated “This MoU would be a step forward to strengthen bilateral relation between India and Saudi Arbia”.
CA. K Raghu, President, ICAI remarked “This MoU will establish closer working linkages between ICAI and SOCPA as it will enable the two to draw synergies from the professional expertise available with each other in areas of accounting, technical research, corporate governance and alike.”
The MoU interalia provides that both ICAI and SOCPA would be working together in establishing possible co-operation in respect of Corporate Governance, technical research and advice, quality assurance, forensic accounting, issues for Small and Medium Sized Practices (SMPs) etc.
As ICAI has taken upon itself being a mentor and collaborative partner to transition economies, developing of accountancy profession in Saudi Arabia is a step forward in achieving the desired goal.
Mr. Mohammad Alaqeel, Assistant Secretary General for Membership and Professional Development, SOCPA stated “This MoU would be a step forward to strengthen bilateral relation between India and Saudi Arbia”.
CA. K Raghu, President, ICAI remarked “This MoU will establish closer working linkages between ICAI and SOCPA as it will enable the two to draw synergies from the professional expertise available with each other in areas of accounting, technical research, corporate governance and alike.”
FIEO inks pact with Afghanistan export promotion agency
Mumbai: The Federation of Indian Export Organisations (FIEO) has signed a memorandum of understanding with the Export Promotion Agency of Afghanistan (EPAA) and the Ministry of Commerce and Industry of Afghanistan, following the visit of a 10-member business delegation representing natural herbs, fresh fruits and dry fruit sectors from Afghanistan.
The signing of the agreement is important since Afghanistan has just got over with elections signifying that the environment is conducive for conducting business. The MoU was signed by Ajay Sahai, Director-General and CEO, FIEO, and Najilla Habibyar, CEO of EPAA.
The MoU is aimed at facilitating exchange visits of investment and trade missions, project study groups, with both parties providing information on standard requirements of their respective countries.
While FIEO will share its experience with EPAA and support the agency in terms of capacity building and exchange programmes, it would cooperate with EPAA to enhance the export capacity, particularly in processing and packing of Afghanistan’s products.
The signing of the agreement is important since Afghanistan has just got over with elections signifying that the environment is conducive for conducting business. The MoU was signed by Ajay Sahai, Director-General and CEO, FIEO, and Najilla Habibyar, CEO of EPAA.
The MoU is aimed at facilitating exchange visits of investment and trade missions, project study groups, with both parties providing information on standard requirements of their respective countries.
While FIEO will share its experience with EPAA and support the agency in terms of capacity building and exchange programmes, it would cooperate with EPAA to enhance the export capacity, particularly in processing and packing of Afghanistan’s products.
10 Indian varsities in Times Asia rankings
Mumbai: Ten Indian institutions have made it to this year’s Asia University Rankings by Times Higher Education, while Japan topped the list with 20 institutes on the top-100 list. Last year only three institutions from India had figured on the list. IIT-Bombay is not on this year’s list (see chart). Last year it was ranked 33.
Panjab University, 32nd on list this year, was the topmost from India. This institution was also the topmost institution of higher education in the country, according to the Times Higher Education World University Rankings released in October 2013. The rankings revealed that China is posing a stiff challenge to Japan, which used to enjoy supremacy in the region. Although the latter retained its premier position, with the University of Tokyo scoring the No. 1 position and other 19 of its universities in the top 100, it lost two candidates from the list. On the other hand, China has improved its position with 18 of its universities figuring on list against 15 in 2013.
It showed that India made maximum progress in this year’s rankings. India now has 10 universities on the list. Panjab University (32nd rank) is followed by the Indian Institute of Technology (IIT)-Kharagpur (45th), IIT-Kanpur (55th) and six more IITs. Jadavpur University (76th), Aligarh Muslim University (80th) and Jawaharlal Nehru University (90th) have also found place on the list.
In third place is South Korea with 14 institutions, followed by Taiwan with 13 (down from 17 last year). While Japan is the top-most country, the Tokyo University of Agriculture and Technology (81st in 2013) and Yokohama National University (joint 96th) have exited the table this year and three more institutions are close to the precipice: Okayama University (down nine places to 94th), Kanazawa University (96th) and Chiba University (which has fallen a massive 23 places to 98th).
India’s Secretary for Higher Education Ashok Thakur writes the question of whether the country should go “full hog” for the global university rankings “has mercifully been laid to rest by none other than the president of India, Pranab Mukherjee, who has made it clear that as a matter of policy, all institutions in the country have to participate wholeheartedly in the rankings process”.
Phil Baty, editor of Times Higher Education Rankings, said these prestigious rankings were wonderful news for India. “A drive to introduce systematic quality assurance and accreditation for the country’s huge range of higher education institutions, plus plans to boost university research, should push it even further. And the election of a majority government raises the prospect of further decisive action in the higher education sphere, cutting through the red tape that has untrammeled previous initiatives,” he said.
The Times Higher Education Asia University Rankings 2014 is one of the world’s largest academic reputation surveys with 10,000 academics in 2013 and almost 60,000 since 2010. It has thirteen indicators across five areas taken into account, and examines all the core missions of the modern global university — research, teaching, knowledge transfer and international activity.
Panjab University, 32nd on list this year, was the topmost from India. This institution was also the topmost institution of higher education in the country, according to the Times Higher Education World University Rankings released in October 2013. The rankings revealed that China is posing a stiff challenge to Japan, which used to enjoy supremacy in the region. Although the latter retained its premier position, with the University of Tokyo scoring the No. 1 position and other 19 of its universities in the top 100, it lost two candidates from the list. On the other hand, China has improved its position with 18 of its universities figuring on list against 15 in 2013.
It showed that India made maximum progress in this year’s rankings. India now has 10 universities on the list. Panjab University (32nd rank) is followed by the Indian Institute of Technology (IIT)-Kharagpur (45th), IIT-Kanpur (55th) and six more IITs. Jadavpur University (76th), Aligarh Muslim University (80th) and Jawaharlal Nehru University (90th) have also found place on the list.
In third place is South Korea with 14 institutions, followed by Taiwan with 13 (down from 17 last year). While Japan is the top-most country, the Tokyo University of Agriculture and Technology (81st in 2013) and Yokohama National University (joint 96th) have exited the table this year and three more institutions are close to the precipice: Okayama University (down nine places to 94th), Kanazawa University (96th) and Chiba University (which has fallen a massive 23 places to 98th).
India’s Secretary for Higher Education Ashok Thakur writes the question of whether the country should go “full hog” for the global university rankings “has mercifully been laid to rest by none other than the president of India, Pranab Mukherjee, who has made it clear that as a matter of policy, all institutions in the country have to participate wholeheartedly in the rankings process”.
Phil Baty, editor of Times Higher Education Rankings, said these prestigious rankings were wonderful news for India. “A drive to introduce systematic quality assurance and accreditation for the country’s huge range of higher education institutions, plus plans to boost university research, should push it even further. And the election of a majority government raises the prospect of further decisive action in the higher education sphere, cutting through the red tape that has untrammeled previous initiatives,” he said.
The Times Higher Education Asia University Rankings 2014 is one of the world’s largest academic reputation surveys with 10,000 academics in 2013 and almost 60,000 since 2010. It has thirteen indicators across five areas taken into account, and examines all the core missions of the modern global university — research, teaching, knowledge transfer and international activity.
India, Russia to set up study group to push FTA
New Delhi: India and Russia have agreed to set up a joint study group to look at the feasibility of a free trade agreement between India, the Customs Union of Russia, Belarus and Kazakhstan.
The decision to set up a study group was agreed at the four-hour long meeting between Russian Deputy Prime Minister Dmitry O. Rogozin and External Affairs Minister Sushma Swaraj here on Wednesday.
“Formalities for these are under process in all the countries and a formal announcement of the constitution of the study group will be made as early as possible,” said a spokesman of the Ministry of External Affairs.
The study group is being set up both the leaders feel the existing level of bilateral trade at $10 billion did not reflect the potential.
The spokesman added that the principal focus was on improving the untapped potential between India and the customs union countries of Russia, Belarus and Kazakhstan in terms of economic and commercial engagement.
Hydrocarbons, nuclear energy, pharmaceuticals, fertilisers, diamonds, cooking coal and infrastructure development were the sectors identified for enhancing trade.
Energy ties
The two leaders also had a detailed discussion about cooperation in the field of hydrocarbons and energy.
The two leaders also felt that the CEO Council, which was set up last year, should be asked to work more intensively to make suggestions for boosting trade and investment ties.
At the meeting the possibility of India having a trade show in Moscow in September also came up.
Sushma Swaraj also informed the Russian Deputy Prime Minister about Kudankulam attaining criticality of 1,000 MW on June 7.
“They discussed the way ahead and the understanding was that Kudankulam II is likely to attain criticality by the end of the year,” the spokesman added.
Rogozin is here to prepare the ground for Russian President Vladimir Putin’s visit later this year for the annual summit meeting with Prime Minister Narendra Modi.
The decision to set up a study group was agreed at the four-hour long meeting between Russian Deputy Prime Minister Dmitry O. Rogozin and External Affairs Minister Sushma Swaraj here on Wednesday.
“Formalities for these are under process in all the countries and a formal announcement of the constitution of the study group will be made as early as possible,” said a spokesman of the Ministry of External Affairs.
The study group is being set up both the leaders feel the existing level of bilateral trade at $10 billion did not reflect the potential.
The spokesman added that the principal focus was on improving the untapped potential between India and the customs union countries of Russia, Belarus and Kazakhstan in terms of economic and commercial engagement.
Hydrocarbons, nuclear energy, pharmaceuticals, fertilisers, diamonds, cooking coal and infrastructure development were the sectors identified for enhancing trade.
Energy ties
The two leaders also had a detailed discussion about cooperation in the field of hydrocarbons and energy.
The two leaders also felt that the CEO Council, which was set up last year, should be asked to work more intensively to make suggestions for boosting trade and investment ties.
At the meeting the possibility of India having a trade show in Moscow in September also came up.
Sushma Swaraj also informed the Russian Deputy Prime Minister about Kudankulam attaining criticality of 1,000 MW on June 7.
“They discussed the way ahead and the understanding was that Kudankulam II is likely to attain criticality by the end of the year,” the spokesman added.
Rogozin is here to prepare the ground for Russian President Vladimir Putin’s visit later this year for the annual summit meeting with Prime Minister Narendra Modi.
Technopark Incubator setting up ‘OpeniSpace’ for start-ups
Thiruvananthapuram: The Technopark-Technology Business Incubator is setting up an ‘OpeniSpace’, an open innovation space on its campus, for innovators and young student entrepreneurs.
P K Kunhalikkutty, Minister for IT and Industries, will inaugurate the space in the presence of Chief Minister Oommen Chandy at a function here this afternoon.
Plug-and-play
The ‘OpeniSpace’ start-up space will provide plug-and-play facilities with four to 12 seats along with Wi-Fi Internet connectivity to young entrepreneurs.
This is a joint initiative of the Technopark Incubator and Rajdhani Technologies-Istrian Technologies-Waybeo Ventures.
The incubator had mooted the project due to insufficient space for start-ups, according to K C Chandrasekharan Nair, Managing Director.
Out of the 190-odd start-ups, around 40 firms shared virtual space here.
“We now have over a thousand applications pending for allotment of space. We hope to provide them space at OpeniSpace,” Nair added.
Free IDs, licences
The ‘OpeniSpace’ huts will also offer 50 free email IDs, software licences, virtual work spaces, servers, cloud infrastructure and other hardware for start-ups at minimum cost.
Concepts like Bring-Your-Own-Device, Platform-As-A-Service and Software-As-A-Service will also be promoted here.
The park will also provide a data farm to provide cost-efficient data storage facility to companies operating in the campus with support from HP Cloud services and IBM BlueMix.
The incubator has already signed MoUs for these purposes.
Those attending the inaugural function include Aruna Sundararajan, Managing Director, Kerala State Industrial Development Corporation; P H Kurian, Principal Secretary (IT), Kerala; K G Girish Babu, CEO, Technopark; Hrishikesh Nair, CEO, Technopark Incubator; and Biju Ramesh.
‘YES’ summit
This is being done on the sidelines of a function to mark the formal announcement and logo launch of Young Entrepreneurs Summit (YES) by the Chief Minister.
YES is a key initiative included in the State Government’s ‘Mission 676’ programme. The State Industrial Development Corporation will organise the summit in Kochi in September.
Partners to the event are Kerala IT, Technopark, the Technopark-TBI, Infopark, Kerala state Industrial Infrastructure Corporation, the Startup Village, TiE, and the Confederation of Indian Industry.
P K Kunhalikkutty, Minister for IT and Industries, will inaugurate the space in the presence of Chief Minister Oommen Chandy at a function here this afternoon.
Plug-and-play
The ‘OpeniSpace’ start-up space will provide plug-and-play facilities with four to 12 seats along with Wi-Fi Internet connectivity to young entrepreneurs.
This is a joint initiative of the Technopark Incubator and Rajdhani Technologies-Istrian Technologies-Waybeo Ventures.
The incubator had mooted the project due to insufficient space for start-ups, according to K C Chandrasekharan Nair, Managing Director.
Out of the 190-odd start-ups, around 40 firms shared virtual space here.
“We now have over a thousand applications pending for allotment of space. We hope to provide them space at OpeniSpace,” Nair added.
Free IDs, licences
The ‘OpeniSpace’ huts will also offer 50 free email IDs, software licences, virtual work spaces, servers, cloud infrastructure and other hardware for start-ups at minimum cost.
Concepts like Bring-Your-Own-Device, Platform-As-A-Service and Software-As-A-Service will also be promoted here.
The park will also provide a data farm to provide cost-efficient data storage facility to companies operating in the campus with support from HP Cloud services and IBM BlueMix.
The incubator has already signed MoUs for these purposes.
Those attending the inaugural function include Aruna Sundararajan, Managing Director, Kerala State Industrial Development Corporation; P H Kurian, Principal Secretary (IT), Kerala; K G Girish Babu, CEO, Technopark; Hrishikesh Nair, CEO, Technopark Incubator; and Biju Ramesh.
‘YES’ summit
This is being done on the sidelines of a function to mark the formal announcement and logo launch of Young Entrepreneurs Summit (YES) by the Chief Minister.
YES is a key initiative included in the State Government’s ‘Mission 676’ programme. The State Industrial Development Corporation will organise the summit in Kochi in September.
Partners to the event are Kerala IT, Technopark, the Technopark-TBI, Infopark, Kerala state Industrial Infrastructure Corporation, the Startup Village, TiE, and the Confederation of Indian Industry.
Tata Power crosses 500MW renewable energy capacity
Mumbai: Tata Power recently crossed the milestone of 500MW renewable energy capacity with the commissioning of solar plant at Palaswadi in Maharashtra.
"This achievement is in line with the company's commitment to have a 20-25 per cent contribution in energy generated from clean power sources that includes a mix of hydro, solar, wind, geothermal, and waste gas generation,'' said an official.
Tata Power has a total operating capacity of 460.6MW from wind farms and 54MW in solar generation. In addition the Company has 447 of hydro and 202.5MW from waste gas based generation.
The company has aggressive plans to increase its generation capacity from green energy sources alone, based on projects that are already in advance stage of execution. It has a dedicated team that looks for opportunities in the renewable energy space and development of clean technology, officials said.
"The Company has been working in different areas of renewable power generation - both grid connected as well as distributed generation,'' the officials added.
Tata Power managing director Anil Sardana said: "We are committed to reduce carbon footprint through "clean and renewable energy" generation and further diversify energy portfolio to reduce fuel price risk. The Company has aggressive plans of additional generating capacity by 2022."
"This achievement is in line with the company's commitment to have a 20-25 per cent contribution in energy generated from clean power sources that includes a mix of hydro, solar, wind, geothermal, and waste gas generation,'' said an official.
Tata Power has a total operating capacity of 460.6MW from wind farms and 54MW in solar generation. In addition the Company has 447 of hydro and 202.5MW from waste gas based generation.
The company has aggressive plans to increase its generation capacity from green energy sources alone, based on projects that are already in advance stage of execution. It has a dedicated team that looks for opportunities in the renewable energy space and development of clean technology, officials said.
"The Company has been working in different areas of renewable power generation - both grid connected as well as distributed generation,'' the officials added.
Tata Power managing director Anil Sardana said: "We are committed to reduce carbon footprint through "clean and renewable energy" generation and further diversify energy portfolio to reduce fuel price risk. The Company has aggressive plans of additional generating capacity by 2022."
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