Hyderabad to host Medtronic's largest global R&D centre outside US

 

Global leader in medical technology, Medtronic plans to invest Rs 1,200 crore (US$ 170.24 million) in scaling up and expanding its current research and development centre into a modern engineering and innovation hub in Hyderabad.

This investment will make Medtronic Engineering and Innovation Centre (MEIC) as the largest global R&D centre outside of the United States for the company. The investment will be focused on building new capabilities in the region, setting up ultra-modern labs including high-end robotic-assisted surgery equipment.

"Medtronic's investment in India is a testament to our commitment to the region and we are proud to be collaborating with the government of Telangana on this major investment in the country," said Mr Omar Ishrak, Executive Chairman and Chairman of the board.

"The expansion of MEIC will help us use medical technology to alleviate pain, restore health and extend life for patients around the world, which is also aligned with the government's vision to improve access to healthcare for patients in India," he said.

The discussion between the state government of Telangana and Medtronic regarding the modalities of investment has been going on for two years. In 2016, during his visit to the United States, Minister for Industries and IT KT Rama Rao and his team of officials met Mr Ishrak.

Though, the partnership was finally announced this month via a virtual meeting. "We are delighted that Medtronic has chosen Hyderabad as its largest R&D base outside the United States and intends to create about 1,000 jobs in the next few years," said Mr Rao.

"It is indeed a great honour for the city to host this centre and it is a testimony to Hyderabad's growing prowess in the medical devices sector," he said.

India's exports of non-basmati rice in first two months of FY21 jumps 52.5 per cent

 

India’s exports of non-basmati rice in the first two months of FY21 has jumped 52.5 per cent to 11.13 lakh tonnes from 7.3 lakh tonnes in the same period of FY20.

The major buyer of non-basmati rice was Africa and it is expected that volumes will increase further when Bangladesh starts importing this variety.

“Africa is depending on India for rice supply this year as Thai rice prices have skyrocketed. Non-basmati rice will do well this year,” said Mr BV Krishna Rao, president, All India Rice Exporters Association.

Mr Rao is positive that Indian non-basmati rice exports will touch FY18 levels when the country exported 8.64 million tonnes. “Exports of non-basmati rice subsequently went down in the next two years and in FY20 we had achieved exports of 5.04 million tonnes. This drop in non-basmati rice was because the government increased the minimum support price of paddy and farmers were not interested in exports. Also, the government had procured huge quantities of rice. That is why the exports went down,” added Mr Rao.

There will be new opportunities once Bangladesh too starts Indian non-basmati rice exports. “Either they will directly buy from private players or they will buy through government-to-government scheme. Whichever way it happens, it will provide a fillip to the country’s rice exports,” Mr Rao added.

“Rice consumption has increased in Bangladesh as people are staying indoors due to the coronavirus outbreak. Eating out has stopped. This is increasing the demand for rice in the country” said Mr Suraj Agarwal, CEO, Tirupati Agri Trade.

The decision of the Bangladesh government on import of rice from India is expected by the end of this week or early next week.

It was seen that Bangladesh imposed an import duty of 55 per cent on rice, but traders said the government is likely to bring down import duty on rice to 18 per cent.

According to the Bangladesh food ministry, import of rice is important as there is slow down in the procurement of rice and paddy due to a lack of interest among millers and farmers to supply the cereal to public warehouses.

Bangladesh government's food office could meet 20 per cent of its paddy procurement target of 8 lakh tonnes and 45 per cent of its rice procurement target of 11.5 lakh tonnes. And if it progresses this way, then the target of paddy procurement is unlikely to be achieved within the deadline of 31 August.

Indian Railways to introduce 'Kisan Rail', a special Parcel Train from Devlali (Maharashtra) to Danapur (Bihar) tomorrow

 In the Union Budget 2020-21, Minister of Finance had made an announcement ‘to build a seamless national cold supply chain for perishables, inclusive of milk, meat, and fish’. It was also stated that the Indian Railways will set up a KISAN RAIL.

As announced in the current year’s Union Budget by Finance Minister, Indian Railways is introducing first “Kisan Rail” from Devlali to Danapur tomorrow on 07/08/2020 at 11:00 hrs from Devlali. The train will be flagged off via video conferencing by Union Minister of Agriculture and Farmers Welfare, Rural Development and Panchyati Raj, Shri Narendra Singh Tomar and Minister of Railways and Commerce and Industry, Shri Piyush Goyal. The event shall be attended by other dignitaries from Maharashtra. The train will run on weekly basis with initial composition of 10 +1 VPs. The train will reach Danapur at 18:45 hrs. on next day covering the journey of 1519 kms. in 31:45 hrs.

The train will provide seamless supply chain of Perishable produce. This train is a step towards realizing the goal of doubling farmers’ incomes by 2022. Indian Railways aims to help double farmers’ income with the launch of Kisan Rail. This train will help in bringing perishable agricultural products like vegetables, fruits to the market in a short period of time. The train with frozen containers is expected to build a seamless national cold supply chain for perishables, inclusive of fish, meat, and milk.

Over Central Railway, Bhusawal Division is primarily an Agro based division. Nasik and surrounding region produce huge quantity of fresh vegetables, fruits, flowers, other perishables, onions and other agro products. These perishables are mainly transported to areas around Patna, Prayagraj, Katni, Satna etc.

This train has been provided scheduled halts at Nasik Road, Manmad, Jalgaon, Bhusaval, Burhanpur, Khandwa, Itarsi, Jabalpur, Satna, Katni, Manikpur, Prayagraj Chheoki, Pt. Deendayal Upadhyay Nagar and Buxar.

The chargeable rates for major pair of stations are as under:

Freight per Tonne:

Nasik Road/Devlali to Danapur	Rs 4001	US$ 56.75
Manmad to Danapur	Rs 3849	US$ 54.60
Jalgaon to Danapur	Rs 3513	US$ 49.83
Bhusawal to Danapur	Rs 3459	US$ 49.07
Burhanpur to Danapur	Rs 3323	US$ 47.14
Khandwa to Danapur	Rs 3148	US$ 44.65

Indian Railways have earlier run single commodity special trains like Banana Specials etc. But this will be the first ever multi commodity trains and will carry fruits like Pomegranate, Banana, Grapes etc and vegetables like Capsicum, Cauliflower, Drumsticks, Cabbage, Onion, Chillies etc. Aggressive marketing is being done with local farmers, loaders, APMC and individuals. Demand is being aggregated. It is expected that the train will be patronised well and will be a great help to the farmers, as freight of this train will be charged as per parcel tariff of normal train (P Scale). 

Indian Handicrafts Industry & Exports

 

The handicrafts sector is of importance to the Indian economy as it is one of the largest employment generators and account for a significant share in the country’s export. The state and regional clusters contribute significantly to handicrafts export. The Indian handicrafts industry is fragmented with more than seven million regional artisans and over 67,000 exporters/export houses promoting regional art and craftsmanship in the domestic and global markets.

Key Markets and Export Destinations

Handicraft export from India decreased 3.35 per cent y-o-y during 2019-20 to reach US$ 3.53 billion. During this period, export of various segments stood as below:

• woodwares at US$ 761.02 million
• embroidered & crocheted goods at US$ 578.26 million
• miscellaneous handicrafts at US$ 1,003.57 million
• handprinted textiles and scarves at US$ 336.49 million
• imitation jewellery at US$ 220.97 million
• artmetal wares at US$ 452.22 million

Indian handicrafts are exported across geographies, with the top 10 destinations being the US, the UK, the UAE, Germany, France, Latin American countries (LAC), Italy, the Netherlands, Canada and Australia.

Recent Developments

Government of India increased incentive rates under the Merchandise Export from India scheme (MEIS) to seven per cent from five per cent for handicraft items which will help exporters to recover the input costs involved in the production of handicrafts and will lead to competitive pricing and boost export.

Export Promotion Council for Handicrafts

The Export Promotion Council for Handicrafts (EPCH) is the apex Government body and operates under the administrative control of the Ministry of Textiles, Government of India. EPCH has the distinction of being considered a ‘model council’, a self-sustaining body that self-finances all its promotional activities.

Handicraft exports from India increased by almost 2 per cent year-on-year to US$ 3.39 billion in FY20 (till February 2020).

Source:
Export Promotion Council for Handicrafts (EPCH)

LG Electronics sets up company-owned e-store in India, hopes to boost appliance sales

India’s largest home appliances maker, LG Electronics India has set up a company-owned online store front using the retail foreign direct investment (FDI) in automatic route for single brand companies and manufacturers.

The Korean-based firm believes that this move will help in expanding its sales further when Indian consumers are opting to buy products including television sets and refrigerators online due to the ongoing COVID-19 pandemic.

LG Electronics India business head (online and e-commerce) Mr Deepak Taneja said, “The company-owned e-store will focus on the premium-end products with an assortment of 150 models right now, but will eventually sell 60-70 per cent of its entire portfolio.”

“The entire buying process will be run and controlled by LG and we have tied up with logistic companies for last mile delivery from our warehouse. Online sales for us have grown by 100 per cent by value in the last one year while it has been 30-35 per cent for the industry,” he said.

Mr Taneja added that there would be no preferred or exclusive offers for its e-store and prices will be at parity with retail. “However, over a period of time we will look at differentiated offerings such as membership offers which LG has in few global markets like the US,” he said.

The company will not impact the end-consumer pricing, including the price offered by sellers in online marketplaces like Amazon and Flipkart, and retail stores.

Government to provide mobile connectivity in 354 villages which are located in strategic and border areas- Shri Ravi Shankar Prasad

 

Shri Ravi Shankar Prasad, Union Minister of Electronics & IT, Communications and Law & Justice, said that Government of India has been taking measures on priority to provide connectivity in the far flung, difficult, border areas of strategic importance, so as to ensure better quality of life to the people as well as to those who are working in these areas.

Speaking to media today after the inauguration of a submarine Optical Fiber Cable of length of 2300 kms between Chennai and Andaman Nicobar at a cost of Rs 1,224 crore (US$ 173.64 million), by Prime Minister Shri Narendra Modi.

Elaborating the various projects being implemented by Department of Telecommunications Shri Prasad spoke about various projects being implemented by the Department of Telecommunications to provide connectivity in remote and difficult areas Shri Prasad informed that a tender for 354 uncovered villages in the strategic, remote and border areas of the country has been finalised and is under implementation in 144 villages of the Union Territories of Jammu & Kashmir and Ladakh and remaining villages in the States of Bihar, Rajasthan, Uttarakhand, Himachal Pradesh and other priority areas of Gujarat. These villages have been strategically chosen to cover border area connectivity on mobile. After commissioning of these villages, there will be no uncovered villages in UTs of J&K, Ladakh for mobile connectivity. Satellite based DSPTs (Digital Satellite Phone Terminal) are also being provided at 1347 sites for Army, BRO, BSF, CRPF, ITBP, SSB etc. Out of which 183 sites are already commissioned and remaining are in process.

The Union Minister further told that Department of Telecommunications is also working on providing mobile connectivity in villages of 24 Aspirational districts of Bihar, Uttar Pradesh, Rajasthan and Madhya Pradesh and remaining 44 Aspirational Districts for 7287 uncovered villages in Chhattisgarh, Odisha, Jharkhand, Andhra Pradesh will also be covered for which government approval is under submission.

Studds commissions 2 new facilities in Haryana; invests Rs 200 crore in plants

 

Studds Accessories, a leading helmet manufacturing company, commissioned two new facilities at Faridabad in Haryana entailing total investment of Rs 200 crore (US$ 28.37 million). The company made an initial investment of around Rs 160 crore (US$ 22.70 million) to set up the largest helmet manufacturing facility in Asia, Studds Accessories said in a statement.

The plant is spread across an area of over 5.5 acres and will also produce bicycle helmets for domestic market besides motorcycle helmets, including the Shifter and Thunder series.

It has also commenced operations at another production unit which has in-house production line for expanded polystyrene (EPS), which is the most important safety feature in a helmet.

The second plant is spread across 1.5 acres and investment of Rs 40 crore (US$ 5.67 million) has been made, marking a total investment of over Rs 200 crore (US$ 28.37 million) in the manufacturing plants, Studds said.

"With the goal of expanding our production efficiency, our new plants would provide employment prospects for local citizens as well as add to the overall economic growth," Studds Accessories Ltd Managing Director Mr Sidhartha Bhushan Khurana said.

He added that the new plants will have production capacity of 75 lakh units of motorcycle helmets and 15 lakh bicycle helmets per annum.

The facilities will ensure direct employment for over 1,500 individuals, Mr Khurana said.

"Currently, we have just begun operations and are planning to ramp up production gradually. With the commencement of our new plants, we have doubled our production capacity from 7 million to 14 million units of motorcycle helmets," he added.

With these new manufacturing units, Studds now has four manufacturing factories in the country, all of them located in Faridabad, Haryana.

Export of helmets by the company is been done to more than 40 countries and the new plant is aimed at ramping up the exports.

Studds also plans to introduce a new range of exciting helmets in this financial year, it said.

Tata Projects completes 110 km Surathani-Phuket transmission line project in Thailand

Tata Projects, an infrastructure major, said it along with its consortium partner has completed 110-km stretch of the 200-km Surathani-Phuket transmission line project in Thailand.

This will provide additional electricity to Phuket and is passing through forests and mountainous terrains.

The statement released by company said, "Tata Projects Limited... and its consortium partner has completed an important 110-km stretch of the 200-km Surathani-Phuket transmission line project in Thailand. This 500kV transmission line is an achievement since it passes through thick jungles and mountainous terrain."

Out of the total 110-km stretch, about 80 km was completed by Tata Projects and the remaining by its partner, the company said adding that it used drone technology for stringing of transmission lines thereby reducing timeframe and avoiding manual work.

Though, no project cost was provided by the company.

Mr Vivek Gautam, COO – Tata Projects Ltd, said, "We are proud to complete this important transmission line project which is a true testimony of our top-notch expertise and vast experience. With successful completion of our second transmission line project in Thailand, we have once again proved our execution capabilities not only in India but also around the world."

It is expected that the company shall continue to deliver projects on-time, using world-class project management techniques and uncompromising standards of safety, he added.

Ready mixed concrete which is a symbol of 100 per cent concrete quality was used in construction of all tower foundations, the statement said adding, additionally, Tata Projects also prepared approach roads for ready mixed concrete trucks.

"A unique aspect of this project is that it is the first 500 kV transmission line passing from Phang-nga province. Phang-nga is a province in Southern Thailand, bordering the Andaman Sea on the West Coast of the Malay Peninsula," the statement said.

Before this Surathani-Phuket transmission line project, Tata Project-led consortium had successfully executed an 80-km stretch of 500kV Roi Et 2 – Chaiyaphum 2 Transmission Line project in August 2019. This was the company's first successfully executed transmission line project in Thailand.

The company claims expertise in executing large and complex urban and industrial infrastructure projects and operates through its four Strategic Business Groups (SBGs) namely Industrial Systems SBG, Core Infra SBG, Urban Infra SBG and Services SBG.

It also offers turnkey end-to-end solutions to set up power generation plants, power transmission and distribution systems, fully integrated rail and metro systems, commercial buildings and airports, chemical process plants, water and waste water management solutions, complete mining and metal purification systems.

Finance Minister launches an Online Dashboard for the National Infrastructure Pipeline

 Union Minister for Finance and Corporate Affairs Ms Nirmala Sitharaman inaugurated the National Infrastructure Pipeline (NIP) Online Dashboard here today through video conferencing.

The online dashboard is envisaged as a one stop solution for all stakeholders looking for information on infrastructure projects in New India. The dashboard is being hosted on the India Investment Grid (IIG) (www.indiainvestmentgrid.gov.in). IIG is an interactive and dynamic online platform that showcases updated & real-time investment opportunities in the country.

The inaugural was attended by members of the High-Level Task Force on Infrastructure and Secretaries of various ministries and government departments.

Speaking at the event, Ms Sitharaman said, “NIP will provide a boost to the vision of an Aatma Nirbhar Bharat. The availability of NIP projects on IIG will ensure easy accessibility to updated project information and attract investors for PPP projects. This is a great step in the direction of implementing NIP- giving a fillip to infrastructure development in the country”.

India Investment Grid (IIG) (www.indiainvestmentgrid.gov.in), is an interactive and dynamic online platform to showcase the best of investment opportunities in India to the global investor community. Developed and managed by Invest India, the National Investment Promotion and Facilitation Agency, IIG serves as the gateway to investments in India, and is also widely used by Indian missions and embassies across the world. IIG allows investors to:

• Search a pan-India database for investment opportunities across sectors
• Track the progress of preferred projects and indicate interest
• Directly communicate with project promoters

 In the budget speech of 2019-2020, Finance Minister Ms Sitharaman announced an outlay of Rs 100 lakh crore (US$ 1.41 trillion) for infrastructure projects over the next 5 years. The budget announcement followed the Independence Day speech by Hon’ble Prime Minister Mr Narendra Modi, wherein he highlighted that “For development of modern infrastructure, an amount of Rs 100 lakh crore (US$ 1.41 trillion) has been earmarked for this period which will create new job opportunities besides improving the living standards”.

In furtherance to this, a high-level Task Force submitted a final report on the National Infrastructure Pipeline with projected infrastructure investment of Rs 111 lakh crore (US$ 1.57 trillion) during FY 2020-25.

NIP is a first-of-its-kind initiative to provide world-class infrastructure across the country and improve the quality of life for all citizens. NIP will improve project preparation, attract investments (both domestic & foreign) into infrastructure, and will be crucial for attaining the target of becoming a US$ 5 trillion economy by FY 2025. NIP covers both economic and social infrastructure projects- based on the updated Harmonized Master List of Infrastructure.

Out of the total expected capital expenditure of Rs 111 lakh crore (US$ 1.57 trillion), projects worth Rs 44 lakh crore (US$ 624.20 billion) (40 per cent) are under implementation, projects worth Rs 33 lakh crore (US$ 468.15 billion) (30 per cent) are at a conceptual stage, projects worth Rs 22 lakh crore (US$ 312.10 billion) (20 per cent) are under development (project identified and DPR prepared, but yet to draw-down funds) and the balance projects worth Rs 11 lakh crore (US$ 156.05 billion) (10 per cent) are unclassified. The entire gamut of projects will now be hosted on IIG to provide visibility to NIP and attract investments from global & domestic investors.

The NIP project database under Volume III of the Final Report of the NIP Task Force is made available on IIG in order to provide access to updated project level information for investments across infrastructure sectors. The Digital platform will provide greater visibility to projects and achieve the mandate of the NIP to market the projects in an efficient manner. The NIP project database hosted on India Investment Grid (IIG) would provide visibility to the NIP and help in financing with prospective investors; domestic and foreign, able to access updated project level information. In addition, it is also a monitoring and evaluation tool to be used by the concerned ministries/departments and DEA to monitor the implementation and actual progress vis-à-vis initial estimates of the NIP for each project.

Ms Sitharaman has asked all concerned department/ministries to immediately update the status of projects on NIP portal and keep it updated in real time. She has also asked all concerned department/ministries to show concrete progress in terms of project and reforms implementation.

Prime Minister Shri Narendra Modi launches submarine cable connectivity to Andaman & Nicobar Islands (CANI)

Prime Minister Shri Narendra Modi today launched and dedicated to the nation, the submarine Optical Fibre Cable (OFC) connecting Andaman & Nicobar Islands to the mainland through video conferencing. The foundation stone for this project was laid by the PM on 30th December 2018 at Port Blair.

Prime Minister Shri Narendra Modi said the connectivity would now enable endless opportunities in the islands. He said the laying of the 2300 kilometer (kms) submarine cable and completing it before the set target is very praiseworthy.

The Prime Minister said that the service had begun today on a major chunk of the islands from Chennai to Port Blair, Port Blair to Little Andaman and Port Blair to Swaraj Island.

The Prime Minister admired the laying of cables for about 2300 kms under the sea as surveying in the deep sea, maintaining the quality of the cable and laying of the cable with specialised vessels is not an easy task. The project also had to overcome challenges such as high waves, storms and monsoons and the tough times owing to Corona Pandemic.

The Prime Minister said the Andaman & Nicobar Islands felt the need for years, but no steps were taken to fulfil it. Shri Modi expressed his happiness for being able to deliver the project notwithstanding such major challenges.

The Prime Minister said providing better and cheap connectivity to the people of Andaman & Nicobar Islands is the responsibility of the country. He congratulated all those who were associated with the project. Shri Modi said the Submarine Cable is one such effort to prove that A & N Islands are not far away from Delhi and from the Hearts of the Mainland.

 

Ease of Living to every Citizen

Shri Modi said that the Government is committed to provide modern facilities to every citizen and every sector so that there can be a better ease of living. He said this Optical Fibre Project which links A&N Islands with the rest of the country is an example of the commitment of the Government towards ease of living. He said the Government is committed to the speedy development of national security linked border areas and island states.

 

Increase Opportunities through Digital India

The Prime Minister said the Submarine Cable will help A&N in getting cheaper and better connectivity and all the benefits of Digital India, especially in improving online education, tele-medicine, banking system, online trading and in boosting tourism.

PM said that the Indian Ocean has been the center of India's trade and strategic prowess for thousands of years and that Andaman & Nicobar is an important centre for India’s Economic-Strategic Cooperation.

He said all the Islands of India would be playing an important role under India’s new trade strategy for Indo-Pacific region.

Shri Modi said under the Act-East policy, the role of Andaman and Nicobar in India's strong relations with East Asian countries and other countries connected to the sea is very high and is going to increase.

He said that the Island Development Agency was formed 3 years ago to strengthen its role. He said that the projects which were not completed in Andaman and Nicobar for years, are now rapidly getting completed.

 

High Impact Projects & Better Land, Air and Water Ways

PM said that High Impact Projects are being expanded in 12 islands of Andaman and Nicobar. Apart from providing for better internet and mobile connectivity, he said the effort is to further improve physical connectivity through road, air, and water.

The Prime Minister referred to the work on two major bridges and the NH-4 in order to improve the road connectivity of North and Middle Andaman.

He said the Port Blair Airport is being enhanced to handle a Capacity of 1200 passengers. Along with this the airports are ready for operations in Diglipur, Car Nicobar and Campbell - Bay.

Shri Modi said the Passenger Terminal in Swaraj Dweep, Shaheed Dweep and Long Island along with Water Aerodrom Infrastructure like Floating Jetty will be ready in the coming months.

He said that the 4 Ships being built at Kochi Shipyard shall be delivered soon to improve the Water connectivity between the islands and the mainland.

 

Port Led Development

He said Andaman & Nicobar will be developed as a hub of Port Led Development as it is at a Competitive Distance from many ports of the World.

Prime Minister said a country which has better network of ports and their connectivity will be able to provide a boost to trade in the 21st Century.

He said that today, when India is moving forward with the resolve of self-sufficiency and is establishing itself as an important player in the Global Supply and Value Chain, it is very important to strengthen our network of Waterways and our Ports. Shri Modi said that the legal bottlenecks in the development of Port Infrastructure are also being removed continuously.

 

International Maritime Trade

PM said that the Government's focus is also on promoting Ease of Business in the sea and simplifying Maritime Logistics. He referred to the speedy construction of the deep draft inner harbor and the proposal to construct Transhipment Port in Great Nicobar at an estimated cost of about Rs 10 thousand crore (US$ 14.19 billion). Shri Modi said this would enable big ships to anchor and would increase India’s share in maritime trade, along with new employment opportunities.

He said that the blue economy like Fisheries, Aquaculture and SeaWeed farming in the island will accelerate in commensurate with the modern infrastructure being developed in Andaman and Nicobar. He wished that the efforts of the Government will give Andaman and Nicobar, not only new facilities but also as a prominent place on the World Tourist Map.