New Delhi: France plans to extend a €1-billion credit line to India for funding sustainable infrastructure and urban development. This was announced by Laurent Fabius, France’s Minister of Foreign Affairs and International Development, on Tuesday.
The credit line, which is to be available over three years, will be given through the French Development Agency (AFD).
Curbing temperature rise
France is to host the next edition of the World Climate Conference in Paris in 2015. Fabius urged nations to come together and agree on limiting global warming to an average global temperature increase of below two degrees Celsius when they meet in Paris for the conference.
Globally, the attempt is to curb the rise in temperature to under two degrees to reduce the impact of climate change. Studies predict that a global rise in temperature by two degree celsius could lead to a 20 per cent dip in water availability, severely impacting food production and causing other disasters.
Fabius also charted five areas of cooperation between France and India — on carbon-free energy (off-shore wind energy, ocean thermal energy); on civilian nuclear energy; water-management in the context of various projects on rivers in India; urban development; and space and earth observation.
A six-member French delegation led by Fabius met Prakash Javadekar, Minister of State (Independent Charge) for Environment, Forests and Climate Change on Tuesday.
Javadekar suggested that part of the Green Climate Fund could be used to buy technology IPRs, which would help developing countries transition to climate-resilient development, an official release said.
He said the Government’s focus on poverty eradication and providing energy access to all would ensure sustainable, balanced development.
Success in my Habit
Friday, July 4, 2014
India, Singapore want economic partnership deal fast-tracked
New Delhi: India and Singapore have asked their negotiators working on the Comprehensive Economic Partnership Agreement (CEPA) to show adequate flexibility to move ahead and have the review completed at the earliest.
This was agreed to at a meeting that the Singapore’s visiting Foreign and Law MinisterK Shanmugam, had with External Affairs Minister Sushma Swaraj here on Tuesday.
“The focus of the discussion was largely economic. Singapore is the source of the largest foreign direct investment into India,” the spokesman of the Ministry of External Affairs said.
Infra projects
The two leaders also had “prolonged and detailed” discussions on the possibility of Singaporean companies participating in infrastructure projects based in the Delhi-Mumbai industrial corridor, the Chennai-Mumbai corridor, in the North East and on the Buddhist circuit.
“The focus was principally on Singapore investments in urban development projects and efficient delivery of urban services,” the spokesman said.
India and Singapore will also exchange state visits as part of the year long 50th anniversary celebrations of establishment of diplomatic relations between them.
Iraq situation
Meanwhile, the Government has purchased tickets for 233 Indians wanting to fly out of Iraq, the spokesman said.
“The most significant numbers are from North India because their tickets are booked for Delhi. After that the largest number is to Hyderabad.
There are a limited number to Kerala and Tamil Nadu but these are in single digits,” the spokesman added.
While about a 1,000 Indians have confirmed to the mobile teams established by the Indian Embassy in Baghdad that they would like to return an almost equal number have indicated that they will remain there, the spokesman said adding that not all Indians have been contacted.
This was agreed to at a meeting that the Singapore’s visiting Foreign and Law MinisterK Shanmugam, had with External Affairs Minister Sushma Swaraj here on Tuesday.
“The focus of the discussion was largely economic. Singapore is the source of the largest foreign direct investment into India,” the spokesman of the Ministry of External Affairs said.
Infra projects
The two leaders also had “prolonged and detailed” discussions on the possibility of Singaporean companies participating in infrastructure projects based in the Delhi-Mumbai industrial corridor, the Chennai-Mumbai corridor, in the North East and on the Buddhist circuit.
“The focus was principally on Singapore investments in urban development projects and efficient delivery of urban services,” the spokesman said.
India and Singapore will also exchange state visits as part of the year long 50th anniversary celebrations of establishment of diplomatic relations between them.
Iraq situation
Meanwhile, the Government has purchased tickets for 233 Indians wanting to fly out of Iraq, the spokesman said.
“The most significant numbers are from North India because their tickets are booked for Delhi. After that the largest number is to Hyderabad.
There are a limited number to Kerala and Tamil Nadu but these are in single digits,” the spokesman added.
While about a 1,000 Indians have confirmed to the mobile teams established by the Indian Embassy in Baghdad that they would like to return an almost equal number have indicated that they will remain there, the spokesman said adding that not all Indians have been contacted.
‘India became an investment destination under Modi’
New Delhi: India has ‘suddenly’ become a promising investment destination for foreign companies looking to do business here, after the new government led by Prime Minister Narendra Modi took over, according to Nitin Nohria, dean of Harvard Business School (HBS).
He was speaking to reporters after delivering leadership lessons to top bureaucrats from power, coal and renewable energy ministries. India-born Nohria imparted lessons on leadership qualities to senior bureaucrats of the rank of joint secretary and above in an interactive session organised by energy minister Piyush Goyal.
“The first Indian dean of HBS flew in to Delhi to give us a sense of what leadership is all about,” said Goyal said after the session. Goyal himself is pursuing an HBS programme, Owner/ President Management, according to his website.
The interactive session lasted for about one-and-a-half hour. Nohria said the country is going through a historic transition in leadership.
“These transitions are important events. We cannot imagine economic development without power and coal. Better leadership inspires others,” he said.
On being asked what he thinks about the business sentiment in India, Nohria said the country has an “amazing moment of opportunity in terms of international business sentiment.”
According to him, people are happy with the clear mandate of the new government. Nohria pointed out that China and Japan have become less attractive for foreign investors - another factor that makes India a promising investment destination.
“But, people will wait for six months to see if the initial excitement translates into direct action. It is guarded optimism,” he said.
The interactive session followed last month’s lecture by author Chetan Bhagat, organised by the ministry for “employees with permanent job with no motivation” with the objective of improving productivity and bringing out new ideas to streamline government processes.
He was speaking to reporters after delivering leadership lessons to top bureaucrats from power, coal and renewable energy ministries. India-born Nohria imparted lessons on leadership qualities to senior bureaucrats of the rank of joint secretary and above in an interactive session organised by energy minister Piyush Goyal.
“The first Indian dean of HBS flew in to Delhi to give us a sense of what leadership is all about,” said Goyal said after the session. Goyal himself is pursuing an HBS programme, Owner/ President Management, according to his website.
The interactive session lasted for about one-and-a-half hour. Nohria said the country is going through a historic transition in leadership.
“These transitions are important events. We cannot imagine economic development without power and coal. Better leadership inspires others,” he said.
On being asked what he thinks about the business sentiment in India, Nohria said the country has an “amazing moment of opportunity in terms of international business sentiment.”
According to him, people are happy with the clear mandate of the new government. Nohria pointed out that China and Japan have become less attractive for foreign investors - another factor that makes India a promising investment destination.
“But, people will wait for six months to see if the initial excitement translates into direct action. It is guarded optimism,” he said.
The interactive session followed last month’s lecture by author Chetan Bhagat, organised by the ministry for “employees with permanent job with no motivation” with the objective of improving productivity and bringing out new ideas to streamline government processes.
EPFO launches online registration facility for employers
New Delhi: Employers will now be able to register online with the Employees' Provident Fund Organisation (EPFO) and get the PF code within one day. Labour Minister Narendra Singh Tomar launched the online registration system on Monday.
"Earlier, it used to take 20-25 days to get the registration done, but through this service, a firm can now be registered in just a day's time," said Tomar.
Companies can register online through a link on the EPFO website, and the PF code will be given upon verification of their permanent account number. Applicants can also track the status of their application through the website.
"Emphasising employment generation as the prime priority for the ministry, Tomar said the government is committed to create employment opportunities by developing labour intensive industries and imparting skill development training to the youth," said a press release by the labour ministry.
The employers associations were also given a presentation on the upcoming website for single-window compliance of labour laws. The ministry is planning to launch the pilot project in October to facilitate single-window compliance of labour laws, including online registration by employers, returns, inspections and redressal of grievances.
"Earlier, it used to take 20-25 days to get the registration done, but through this service, a firm can now be registered in just a day's time," said Tomar.
Companies can register online through a link on the EPFO website, and the PF code will be given upon verification of their permanent account number. Applicants can also track the status of their application through the website.
"Emphasising employment generation as the prime priority for the ministry, Tomar said the government is committed to create employment opportunities by developing labour intensive industries and imparting skill development training to the youth," said a press release by the labour ministry.
The employers associations were also given a presentation on the upcoming website for single-window compliance of labour laws. The ministry is planning to launch the pilot project in October to facilitate single-window compliance of labour laws, including online registration by employers, returns, inspections and redressal of grievances.
Cipla buys Yemen-based drug distributor for $21 mn
Mumbai: Cipla, once known as a domestic pharmaceutical company, on Monday announced its fifth global acquisition deal within a span of a year, a 51 per cent stake in a pharmaceuticals manufacturing and distribution business in Yemen for $21 million.
While Cipla did not name the company, it said the Yemeni drug maker is owned by a business group based in the United Arab Emirates. Yemen is a fast-growing market where Cipla already has a leading position, with about 200 products. The deal includes more to be paid over the next three years, on achievement of agreed milestones.
This is Cipla’s second buyout this month. On June 17, it said it had acquired a 60 per cent stake in a Sri Lankan company for $14 million. Cipla had entered this transaction through its wholly-owned subsidiary, Cipla (Mauritius) Ltd. Through the recent acquisitions, Cipla seems to be eyeing a strong foothold in West Asia and Africa. On Monday, Cipla’s shares closed at Rs 437.95 apiece, up 0.15 per cent on the BSE. The company did not respond to queries from Business Standard.
Since 2013, Cipla has made five acquisitions in various countries. After completing the buyout of Cipla Medpro for $512 million in June 2013, it acquired a 14.5 per cent stake in Uganda-based Quality Chemical Industries, 100 per cent in Croatia-based Celeris in December 2013 and 60 per cent in the Sri Lankan company mentioned above
While Cipla did not name the company, it said the Yemeni drug maker is owned by a business group based in the United Arab Emirates. Yemen is a fast-growing market where Cipla already has a leading position, with about 200 products. The deal includes more to be paid over the next three years, on achievement of agreed milestones.
This is Cipla’s second buyout this month. On June 17, it said it had acquired a 60 per cent stake in a Sri Lankan company for $14 million. Cipla had entered this transaction through its wholly-owned subsidiary, Cipla (Mauritius) Ltd. Through the recent acquisitions, Cipla seems to be eyeing a strong foothold in West Asia and Africa. On Monday, Cipla’s shares closed at Rs 437.95 apiece, up 0.15 per cent on the BSE. The company did not respond to queries from Business Standard.
Since 2013, Cipla has made five acquisitions in various countries. After completing the buyout of Cipla Medpro for $512 million in June 2013, it acquired a 14.5 per cent stake in Uganda-based Quality Chemical Industries, 100 per cent in Croatia-based Celeris in December 2013 and 60 per cent in the Sri Lankan company mentioned above
Washington University partners IIT-Bombay for e-MBA degree
Mumbai: Washington University in St Louis (WUSTL) and the Indian Institute of Technology Bombay (IITB) have jointly launched a combined US-India joint executive MBA degree programme. The new programme, which will confer a joint MBA degree, will be modelled after WUSTL's executive MBA in China and the US.
"This is our first joint degree programme that we have in Washington University and conveys our commitment to partnership and confidence in IIT Bombay," Mark S Wrighton, chancellor of Washington University told ET in an exclusive interaction on Monday.
"We expect enrolment from companies that are based outside India and the ones that are based in India. That development of network of business professionals will be valuable for those who enroll," he said.
"Back home in the US I have spoken to a lot of companies that have operations in India and I have had the chance to speak to the CEOs of three important St Louis-headquartered companies, including Emerson, which has 10,000 employees or more in India, Monsanto and Sigma Aldrich and each of those companies has committed to having one or two employees in their first cohort of students in this joint EMBA programme," said Wrighton. The partnership will also enable IIT Bombay to connect with a large number of businesses in many sectors, other than technology, and complement their ongoing activities of industry academia linkages.
"At IIT Bombay, we see this as a great interface to industry. We already have strong connections with the industry on the technology side; this way we will get an opportunity to connect on the business side, too," said Devang V Khakhar, director, IIT Bombay. Classes will be held in the IIT Bombay campus and taught by faculty from WUSTL's Olin Business School and IIT Bombay's Shailesh J Mehta School of Management.
The programme will be of 18-month duration and classes will be offered four days a month. It will end with a two-week exposure at the Washington University. The first session of the programme will commence from early 2015. The tuition fees will be $55,000-$60,000, which is 50% less than its current cost in the US.
"The curriculum will draw upon the expertise of not just the two business schools but also of IIT Bombay and Washington University," said Mahendra Gupta, the Indian origin dean of WUSTL's Olin Business School. "There are two countries that are going to have a major economic impact on the world, in addition to the existing leaders in the western hemisphere, that is China and India," Gupta said.
The programme is meant for professionals with at least seven years of experience. "Our executives will be representing all sectors including women in such a way that we will be able to open the door not only for corporate leaders but also in the fields of social entreprenuership, CSR, policy perspectives, government leaders, bureaucrats, and NGOs," said S Bhargava, head of SJMSOM.
"This is our first joint degree programme that we have in Washington University and conveys our commitment to partnership and confidence in IIT Bombay," Mark S Wrighton, chancellor of Washington University told ET in an exclusive interaction on Monday.
"We expect enrolment from companies that are based outside India and the ones that are based in India. That development of network of business professionals will be valuable for those who enroll," he said.
"Back home in the US I have spoken to a lot of companies that have operations in India and I have had the chance to speak to the CEOs of three important St Louis-headquartered companies, including Emerson, which has 10,000 employees or more in India, Monsanto and Sigma Aldrich and each of those companies has committed to having one or two employees in their first cohort of students in this joint EMBA programme," said Wrighton. The partnership will also enable IIT Bombay to connect with a large number of businesses in many sectors, other than technology, and complement their ongoing activities of industry academia linkages.
"At IIT Bombay, we see this as a great interface to industry. We already have strong connections with the industry on the technology side; this way we will get an opportunity to connect on the business side, too," said Devang V Khakhar, director, IIT Bombay. Classes will be held in the IIT Bombay campus and taught by faculty from WUSTL's Olin Business School and IIT Bombay's Shailesh J Mehta School of Management.
The programme will be of 18-month duration and classes will be offered four days a month. It will end with a two-week exposure at the Washington University. The first session of the programme will commence from early 2015. The tuition fees will be $55,000-$60,000, which is 50% less than its current cost in the US.
"The curriculum will draw upon the expertise of not just the two business schools but also of IIT Bombay and Washington University," said Mahendra Gupta, the Indian origin dean of WUSTL's Olin Business School. "There are two countries that are going to have a major economic impact on the world, in addition to the existing leaders in the western hemisphere, that is China and India," Gupta said.
The programme is meant for professionals with at least seven years of experience. "Our executives will be representing all sectors including women in such a way that we will be able to open the door not only for corporate leaders but also in the fields of social entreprenuership, CSR, policy perspectives, government leaders, bureaucrats, and NGOs," said S Bhargava, head of SJMSOM.
India, China sign pact on industrial parks
Beijing: India and China on Monday formalised an agreement to take forward the setting up of China-dedicated industrial clusters in India, with an aim to boost Chinese investment in infrastructure and manufacturing.
The agreement, signed during Vice-President Hamid Ansari’s visit to Beijing, was, however, short on details. With China still considering at least four locations for setting up its first parks, officials described the MoU as more “an enabling framework” rather than a concrete agreement.
The MoU also did not mention whether the proposed clusters would be given any preferential policies, only saying that benefits would be “no lower than that envisaged under the prevailing policy frameworks in India such as Special Economic Zone (SEZ), National Investment & Manufacturing Zone (NIMZ), and existing policies of the State Governments, as applicable”.
Officials hope that the agreement will send a strong signal to Chinese firms that India is open to investment, particularly in infrastructure and manufacturing.
Commerce and Industry Minister Nirmala Seetharaman, who met with her counterpart Gao Hucheng for talks here on Monday morning, said there was “immense scope” for Chinese investment, “not just for manufacturing but many sectors where the Chinese have an advantage”. “Whether manufacturing or railways, we could always find out more such areas where Chinese investments can be encouraged,” she said.
Market access sought
During her meeting, Seetharaman also called on China to improve market access for Indian firms here, particularly in sectors such as pharmaceuticals and IT where companies have complained of an opaque regulatory framework. She made the point that the widening trade deficit, which touched $31 billion last year out of two-way trade of $65 billion, was unsustainable. According to the MoU, an Industrial Park Cooperation Working Group, made up of equal number of representatives from both the countries, will be set up to identify and agree upon the detailed modalities, with four locations already being considered by China. The group will meet alternately in each country and periodically review progress.
MoU on hydrological data
The agreement was one of three MoUs signed following Ansari’s talks with his counterpart Li Yuanchao. Both countries also signed an MoU on the provision of hydrological data and for a first ever training exchange programme for officials of both countries, between the Lal Bahadur Shastri National Academy of Administration (LBSNAA), Mussoorie and the China Executive Leadership Academy (CELAP) in Shanghai.
China has agreed to allow Indian hydrological experts to conduct study tours in Tibet to monitor the flows of the upper reaches of the Brahmaputra, in an apparent move to assuage India’s concerns about on-going dam projects on the upper reaches of the river – known as the Yarlung Zangbo in Tibet.
China has in the past been sensitive about allowing access to Tibet, and Indian hydrological experts have, as yet, not formally visited the region. China also agreed to extend provision of hydrological data from May 15 to October 15 every year on a daily basis, adding 15 days to an earlier agreement. The data will be provided by three stations, at Nugesha, Yangcun and Nuxia in Tibet on the main stream of the river.
The agreement, signed during Vice-President Hamid Ansari’s visit to Beijing, was, however, short on details. With China still considering at least four locations for setting up its first parks, officials described the MoU as more “an enabling framework” rather than a concrete agreement.
The MoU also did not mention whether the proposed clusters would be given any preferential policies, only saying that benefits would be “no lower than that envisaged under the prevailing policy frameworks in India such as Special Economic Zone (SEZ), National Investment & Manufacturing Zone (NIMZ), and existing policies of the State Governments, as applicable”.
Officials hope that the agreement will send a strong signal to Chinese firms that India is open to investment, particularly in infrastructure and manufacturing.
Commerce and Industry Minister Nirmala Seetharaman, who met with her counterpart Gao Hucheng for talks here on Monday morning, said there was “immense scope” for Chinese investment, “not just for manufacturing but many sectors where the Chinese have an advantage”. “Whether manufacturing or railways, we could always find out more such areas where Chinese investments can be encouraged,” she said.
Market access sought
During her meeting, Seetharaman also called on China to improve market access for Indian firms here, particularly in sectors such as pharmaceuticals and IT where companies have complained of an opaque regulatory framework. She made the point that the widening trade deficit, which touched $31 billion last year out of two-way trade of $65 billion, was unsustainable. According to the MoU, an Industrial Park Cooperation Working Group, made up of equal number of representatives from both the countries, will be set up to identify and agree upon the detailed modalities, with four locations already being considered by China. The group will meet alternately in each country and periodically review progress.
MoU on hydrological data
The agreement was one of three MoUs signed following Ansari’s talks with his counterpart Li Yuanchao. Both countries also signed an MoU on the provision of hydrological data and for a first ever training exchange programme for officials of both countries, between the Lal Bahadur Shastri National Academy of Administration (LBSNAA), Mussoorie and the China Executive Leadership Academy (CELAP) in Shanghai.
China has agreed to allow Indian hydrological experts to conduct study tours in Tibet to monitor the flows of the upper reaches of the Brahmaputra, in an apparent move to assuage India’s concerns about on-going dam projects on the upper reaches of the river – known as the Yarlung Zangbo in Tibet.
China has in the past been sensitive about allowing access to Tibet, and Indian hydrological experts have, as yet, not formally visited the region. China also agreed to extend provision of hydrological data from May 15 to October 15 every year on a daily basis, adding 15 days to an earlier agreement. The data will be provided by three stations, at Nugesha, Yangcun and Nuxia in Tibet on the main stream of the river.
Isro launches PSLV-C23 with 5 foreign satellites
Sriharikota: The Indian Space Research Organisation (Isro)’s polar satellite launch vehicle (PSLV)-C23 was launched successfully on Monday from the first launch pad of Sriharikota space station here, about 100 km north of Chennai. Prime Minister Narendra Modi and other senior ministers witnessed the launch at the Satish Dhawan Space Centre.
The PSLV-C23 lifted off from the spaceport at 9.52 am on Monday instead of 9.49 am as was decided earlier. This is because Isro had to delay the launch by three minutes to avoid the threat of space debris getting in the way of the satellites.
The launch vehicle, PSLV-C23, with a height of 44.4 metres, carried with it SPOT-7, a 714-kg French earth-observing satellite as the main payload, which was injected into a 655-km Sun Synchronous Orbit (SSO). The other satellites being carried by PSLV-C23 include the 14-kg AISAT of Germany, NLS7.1 (CAN-X4) and NLS7.2 (CAN-X5) of Canada - each weighing 15 kg - and the 7-kg VELOX-1 of Singapore.
Till April 2014, there had been 25 consecutive successful flights of PSLV and this is the 26th such launch. Meanwhile, PSLV-C23 is the 10th flight of PSLV in ‘core-alone’ configuration, which means a configuration without the use of solid strap-on motors.
After an estimated time of 20 minutes, Isro’s workhorse PSLV separated all five satellites — one by one into their intended orbit. All the satellites were separated as planned, Isro said in a statement.
SPOT-7 is a French optical earth observation satellite identical to SPOT-6 launched earlier on-board PSLV-C21 in September 2012. SPOT-7, after its injection into the SSO, will be phased and placed diametrically opposite to SPOT-6 and will form part of the existing earth observation constellation.
Modi praised the cost-effective nature of Indian space programme, saying the country’s Mars mission had reportedly cost less than the Hollywood science fiction Gravity, said a PTI report. Mangalyaan was launched in November 2013 at an estimated cost of $72 million. The movie was reportedly made at an estimated $100 mn.
The PSLV-C23 lifted off from the spaceport at 9.52 am on Monday instead of 9.49 am as was decided earlier. This is because Isro had to delay the launch by three minutes to avoid the threat of space debris getting in the way of the satellites.
The launch vehicle, PSLV-C23, with a height of 44.4 metres, carried with it SPOT-7, a 714-kg French earth-observing satellite as the main payload, which was injected into a 655-km Sun Synchronous Orbit (SSO). The other satellites being carried by PSLV-C23 include the 14-kg AISAT of Germany, NLS7.1 (CAN-X4) and NLS7.2 (CAN-X5) of Canada - each weighing 15 kg - and the 7-kg VELOX-1 of Singapore.
Till April 2014, there had been 25 consecutive successful flights of PSLV and this is the 26th such launch. Meanwhile, PSLV-C23 is the 10th flight of PSLV in ‘core-alone’ configuration, which means a configuration without the use of solid strap-on motors.
After an estimated time of 20 minutes, Isro’s workhorse PSLV separated all five satellites — one by one into their intended orbit. All the satellites were separated as planned, Isro said in a statement.
SPOT-7 is a French optical earth observation satellite identical to SPOT-6 launched earlier on-board PSLV-C21 in September 2012. SPOT-7, after its injection into the SSO, will be phased and placed diametrically opposite to SPOT-6 and will form part of the existing earth observation constellation.
Modi praised the cost-effective nature of Indian space programme, saying the country’s Mars mission had reportedly cost less than the Hollywood science fiction Gravity, said a PTI report. Mangalyaan was launched in November 2013 at an estimated cost of $72 million. The movie was reportedly made at an estimated $100 mn.
Sunday, June 29, 2014
Japanese retail giant Uniqlo ready to set up 1000 stores in India
New Delhi: Japanese retail giant Uniqlo on Wednesday suggested that it will open up to 1,000 stores in India in the coming years to tap into the growing consumption story and announced a strategy to source garments from the country.
Two sources familiar with the development told TOI that Uniqlo chairman and CEO Tadashi Yanai, who met Prime Minister Narendra Modi and other ministers, disclosed the plan to open stores during these interactions. "We are looking to invest in the retail business in India... We will look to open 1,000 stores but it will take more than ten years as it is not easy to open so many stores," said a source, who did not wish to be identified. When contacted, a company executive said Yanai was not available for comment.
Uniqlo, which started as a chain of suburban roadside stores in Japan, is targeting close to 1,500 stores across the globe by the end of August. Currently, it has 632 stores outside Japan and moved into malls a decade ago, the company website said. Now, its strategy involves opening flagship stores in the plush shopping districts of New York, London and Shanghai.
The Japanese chain has been looking at entering India for the past few years but had deferred its plans. It is not clear if it will rope in a partner for its single-brand retail foray or operate through a wholly-owned subsidiary in the country.
Several foreign retailers have set up shop in India through the single-brand window, which includes the likes of Marks and Spencer, IKEA and Hennes & Mauritz (H&M). But, most are moving ahead with their plans at a measured pace. For instance, IKEA is yet to open its first store despite getting government approval a year ago. H&M had said it plans to open 50 outlets in 2014.
Before Uniqlo enters the retail business, it wants to have a pool of vendors to source garments. The company is in talks with the Apparel Export Promotion Council (AEPC) to identify 10 garment exporters, which have scale and comply with international specifications and standards. Sources said that the Japanese firm may invest in some of the Indian companies, if required.
Two sources familiar with the development told TOI that Uniqlo chairman and CEO Tadashi Yanai, who met Prime Minister Narendra Modi and other ministers, disclosed the plan to open stores during these interactions. "We are looking to invest in the retail business in India... We will look to open 1,000 stores but it will take more than ten years as it is not easy to open so many stores," said a source, who did not wish to be identified. When contacted, a company executive said Yanai was not available for comment.
Uniqlo, which started as a chain of suburban roadside stores in Japan, is targeting close to 1,500 stores across the globe by the end of August. Currently, it has 632 stores outside Japan and moved into malls a decade ago, the company website said. Now, its strategy involves opening flagship stores in the plush shopping districts of New York, London and Shanghai.
The Japanese chain has been looking at entering India for the past few years but had deferred its plans. It is not clear if it will rope in a partner for its single-brand retail foray or operate through a wholly-owned subsidiary in the country.
Several foreign retailers have set up shop in India through the single-brand window, which includes the likes of Marks and Spencer, IKEA and Hennes & Mauritz (H&M). But, most are moving ahead with their plans at a measured pace. For instance, IKEA is yet to open its first store despite getting government approval a year ago. H&M had said it plans to open 50 outlets in 2014.
Before Uniqlo enters the retail business, it wants to have a pool of vendors to source garments. The company is in talks with the Apparel Export Promotion Council (AEPC) to identify 10 garment exporters, which have scale and comply with international specifications and standards. Sources said that the Japanese firm may invest in some of the Indian companies, if required.
Government approves Rs 12,500 crore transmission projects
New Delhi: In a bid to fast track building of high capacity inter-state transmission lines, the Ministry of Power has approved 9 new projects with an aggregate cost of over Rs.12,500 crore.
These transmission projects will benefit several states such as Haryana, Chhattisgarh, UP, MP, Maharashtra etc, by enabling high capacity 765kv lines carrying up to 2100MW each apart from construction of new 765/400kv substations. The projects will help evacuate power from central generating stations such as 660MW Sipat of NTPC, 1600MW Gadarwara, private sector generating stations such as Sassan UMPP (1320 MW). Congestion will also be reduced in Haryana Region by the strengthening of the Northern Transmission system. Projects which will be developed through tariff based competitive bidding process inviting participation from all Bidders including private sector.
These projects were mainly stuck in the approval process in the government since last several months. The approval to go ahead with implementation was granted immediately.
In the country as a whole, the total inter-regional transmission capacity of about 28,000 MW will be added in the next 3 years so that the total capacity is enhanced to more than 66000 MW by 2017.
List of Transmission Schemes approved by Government for high capacity Inter-State /Inter Region Transmission is as follows:
S.No
Scheme Name
Estimated Cost
(Rs.In Crore)
1
Northern Region system Strengthening Scheme–XXXV
88
2
Additional System Strengthening for Sipat STPS
2473
3
System Strengthening for IPPs in Chhattisgarh and other generation projects in Western Region
823
4
Additional System Strengthening Scheme for Chhattisgarh IPPs
2191
5
Transmission system associated with Gadarwara STPS (2x800 MW) of NTPC (Part-A)
2525
6
Transmission system associated with Gadarwara STPS (2x800 MW) of NTPC (Part-B)
2360
7
Connectivity lines for Maheshwaram (Hyderabad) 765/400 kV Pooling S/s
396
8
Transmission system for LTA of 400 MW for 2x500 MW Neyveli Lignite Corporation Ltd. TS-I (Replacement) (NNTPS) in Neyveli
612
9
Transmission System Strengthening associated with Vindhyachal-V
1050
Total
12518
These transmission projects will benefit several states such as Haryana, Chhattisgarh, UP, MP, Maharashtra etc, by enabling high capacity 765kv lines carrying up to 2100MW each apart from construction of new 765/400kv substations. The projects will help evacuate power from central generating stations such as 660MW Sipat of NTPC, 1600MW Gadarwara, private sector generating stations such as Sassan UMPP (1320 MW). Congestion will also be reduced in Haryana Region by the strengthening of the Northern Transmission system. Projects which will be developed through tariff based competitive bidding process inviting participation from all Bidders including private sector.
These projects were mainly stuck in the approval process in the government since last several months. The approval to go ahead with implementation was granted immediately.
In the country as a whole, the total inter-regional transmission capacity of about 28,000 MW will be added in the next 3 years so that the total capacity is enhanced to more than 66000 MW by 2017.
List of Transmission Schemes approved by Government for high capacity Inter-State /Inter Region Transmission is as follows:
S.No
Scheme Name
Estimated Cost
(Rs.In Crore)
1
Northern Region system Strengthening Scheme–XXXV
88
2
Additional System Strengthening for Sipat STPS
2473
3
System Strengthening for IPPs in Chhattisgarh and other generation projects in Western Region
823
4
Additional System Strengthening Scheme for Chhattisgarh IPPs
2191
5
Transmission system associated with Gadarwara STPS (2x800 MW) of NTPC (Part-A)
2525
6
Transmission system associated with Gadarwara STPS (2x800 MW) of NTPC (Part-B)
2360
7
Connectivity lines for Maheshwaram (Hyderabad) 765/400 kV Pooling S/s
396
8
Transmission system for LTA of 400 MW for 2x500 MW Neyveli Lignite Corporation Ltd. TS-I (Replacement) (NNTPS) in Neyveli
612
9
Transmission System Strengthening associated with Vindhyachal-V
1050
Total
12518
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