Courtesy: r b kishore
Dear all,
INDUSTRY
Industry lauds PM’s ‘action plan’ for start-ups
Prime Minister Narendra Modi’s ‘Start-up India, Stand-up India’ programme concluded with a loud applause on Saturday evening, as he announced what entrepreneurs had been waiting to hear – a slew of policy measures.The policy measures covered in the ‘Action Plan’ unveiled by Modi include the desired handholding initiatives such as the Start-up India hub, fast-tracking of patent applications, setting up of sector-specific incubators, start-up-friendly tax regimes, and funding support through various funds.
http://www.thehindubusinessline.com/todays-paper/tp-news/industry-lauds-pms-action-plan-for-startups/article8117606.ece
INFRASTRUCTURE
Budget 2016-17 to give some clarity on PPP infra projects
In a move to ‘revitalise’ the PPP business model, which has been losing sheen, Budget 2017 is set to give some clarity on public-private-partnerships in the infrastructure sector, “We are reviewing the Vijay Kelkar Committee report to see how much of it can be implemented… The Ministry also has had talks with various stakeholders separately… Some views have been formed. We will see what best can be worked out,” Shaktikanta Das, Secretary, Department of Economic Affairs, Ministry of Finance, told BusinessLine .
http://www.thehindubusinessline.com/todays-paper/budget-201617-to-give-some-clarity-on-ppp-infra-projects/article8117577.ece
New airlines take off, but yet to soar
Indian aviation went from strength to strength in 2015, attracting many new players. Three new airlines — Vistara, Air Pegasus and Trujet — took off last year. With this, five new players now compete for passenger patronage in the domestic skies. These players have taken off, but they have a long way to reach cruising altitude and challenge the well-entrenched larger carriers.Buoyed by low fuel costs, which enabled fare cuts, air passenger traffic in the country grew at over 20 per cent last year, amongst the fastest in the world.
http://www.thehindubusinessline.com/todays-paper/new-airlines-take-off-but-yet-to-soar/article8117575.ece
Coming, an exclusive insurer for Indian ships
To reduce the insurance cost of Indian ship-owners, the Centre plans to get the four public sector general insurers to float a new joint venture. The venture will exclusively provide cover to ships operating in Indian and South Asian waters.The Shipping Ministry is spearheading the move to set up the company. A draft plan has been prepared and is being vetted by various ministries. The proposed company will be launched in the next fiscal year by the four PSU general insurers (New India Assurance, United India Insurance, National Insurance Company, and Oriental Insurance Company), said a senior Shipping Ministry official.
http://www.thehindubusinessline.com/todays-paper/coming-an-exclusive-insurer-for-indian-ships/article8117576.ece
INDIA-UK BILATERAL MEET
Jaitley to visit UK, Switzerland
Finance Minister Arun Jaitley will embark on a two-day official visit to the UK.This will be followed by a four-day official visit to Zurich in Switzerland, an official release said.In UK, Jaitley will meet his counterpart and Secretary of Exchequer George Osborne in London on Monday.He will also participate in three different investors’ meet organised by Goldman Sachs, Mastercard and Confederation of Indian Industry and Kotak Mahindra Bank, among others.On Tuesday, Jaitley will participate in India-UK Bilateral meet and Economic and Financial Dialogue.
http://www.thehindubusinessline.com/todays-paper/tp-news/jaitley-to-visit-uk-switzerland/article8117592.ece
AGRICULTURE
Crop insurance boost
The new crop insurance scheme appears to be the Modi government’s flagship agriculture initiative. It will subsidise actuarial premiums to the extent of 90 per cent, as against the present 65-70 per cent, in order to keep insurance costs low and attractive for farmers. The aim is to enhance crop insurance coverage to half the gross cropped area, against 23 per cent presently. The policy — based on the recommendations of the Commission for Agriculture Costs and Prices (CACP) in its latest rabi season report — seems directed at breaking the prevailing vicious cycle of high premiums and low coverage. There cannot be a better market for crop insurance than India — 68 per cent of the area is rainfed and, according to the CACP, there are major output dips once every three years.
http://www.thehindubusinessline.com/todays-paper/tp-opinion/crop-insurance-boost/article8117625.ece
BANKING
Andhra Bank gold bond scheme
Andhra Bank has announced the launch of Sovereign Gold Bond Scheme Tranche-II, sponsored by Government of India, for public subscription. The subscription is open during January 18-22 at all its 2,755 branches. Under the scheme, individuals, joint persons, associations and trusts can apply for gold bonds (minimum two grams and maximum of 500 grams). The tenure of the bonds is eight years with provision of premature cancellation after five years.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/andhra-bank-gold-bond-scheme/article8117642.ece
TRADE
Cheaper oil, more trade opportunities for India
The lifting of the sanctions on Iran will benefit India with lower oil prices and more opportunities for trade, according to experts. It should also bring the proposed India-Iran gas pipeline closer to reality.“There will be a further softening of global crude prices. Iran will gradually ramp up production by 0.5 million barrels per day over the next six months. This will add to the overall supply glut,” K.Ravichandran, senior vice-president and co-head, corporate sector rating at ICRA told The Hindu .
http://www.thehindu.com/todays-paper/cheaper-oil-more-trade-opportunities-for-india/article8117730.ece
India, EU officials to meet today on FTA
Senior officials of India and the European Union are expected to hold discussions on Monday on the stalled negotiations for the proposed free trade agreement (FTA). “Both the sides would review the progress of talks and ways to move forward,” an official said.
http://www.thehindu.com/todays-paper/tp-business/india-eu-officials-to-meet-today-on-fta/article8117710.ece
VISA
India may ease visa norms for China
India is all set to overhaul its security cooperation agreement with China and further liberalise visa norms for the neighbouring country, a senior government official has told The Hindu.If the agreement comes through, China will deport Indians accused of terrorist acts and operating in Chinese territory after its agencies conduct an independent probe, the official said.To begin with, a Memorandum of Understanding (MoU) signed in 2005 between the Ministry of Home Affairs and the Ministry of Public Security, People’s Republic of China, is being revisited to expand its scope, said the official. The MoU was signed for exchange of security-related information to combat terrorism.
http://www.thehindu.com/todays-paper/india-may-ease-visa-norms-for-china/article8117739.ece
STATE
Kerala Tourism woos Silicon Valley executives
Kerala Tourism is making a pitch to executives and employees of Silicon Valley to come to God’s Own Country during the ‘Visit Kerala Year.’ “We want to invite the management of these companies to host corporate retreats here,” said G Kamala Vardhana Rao, Principal Secretary, Tourism, who is heading a cultural delegation to the Valley.The ‘first ever corporate meet at the Valley’ was intended to introduce Kerala as a destination for companies there and also to portray it as an investor-friendly destination, Rao said. He also presented on behalf of Kerala State Industrial Development Corporation various investment opportunities available in the State.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/kerala-tourism-woos-silicon-valley-executives/article8117617.ece
UAE law firm begins operations in Kochi
The UAE-based law firm Musthafa & Almana has opened its “global consulting legal and business innovation centre” at SmartCity Kochi.“People in the State are familiar with the services offered by law firms in India and abroad, but will instead approach an advocate for legal assistance on matters of their firms,” said Musthafa Zafeer OV, founder and managing director of the company.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/uae-law-firm-begins-operations-in-kochi/article8117649.ece
Maharashtra may buy gypsum panels
The Maharashtra government has shown interest in using GFRG (glass fibre reinforced gypsum) panels manufactured by FRBL (FACT-RCF Building Products Ltd) here for its upcoming developmental projects. An assurance in this regard was given by Chief Minister Devendra Fadnavis during a recent meeting with Jaiveer Srivastava, CMD (FACT) & Chairman (FRBL), CP Dinesh, MD (FRBL) and others. According to Srivastava, the Chief Minister promised all possible help to popularise the glass fibre re-inforced gypsum panels manufactured by FRBL.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/maharashtra-may-buy-gypsum-panels/article8117648.ece
Concrete roads: Centre uses portal to negotiate with cement firms
The Union Ministry of Road Transport and Highways (MoRTH) has started price negotiations with cement companies for supply to concrete road projects through INAM-Pro, a web-based portal for infrastructure and materials providers launched by the Ministry in March 2015.“The new price will be for a period of three years starting April 1, 2016. Negotiations were held with over 25 cement companies that will supply specific quantities of cement at an agreed price for customers ordering through the portal,” said Sanjay Saju, Director (Fin/Admn), National Highways & Infrastructure Development Corporation Ltd, which runs the portal.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/concrete-roads-centre-uses-portal-to-negotiate-with-cement-firms/article8117613.ece
Link procurement policy to price: Kassia
Karnataka Small Scale Industries Association (Kassia) has urged the Union MSME Ministry to implement the public procurement policy along with the price preference policy.The objective of the procurement policy is to facilitate increased business fusion between premier public sector units and SMEs through appropriate marketing linkages.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/link-procurement-policy-to-price-kassia/article8117644.ece
Work begins on Ahmedabad Metro 2nd line
Work on the second line of Ahmedabad Metro Rail project’s North-South Corridor was launched on Sunday. Chief Minister Anandiben Patel performed the groundbreaking for the project here.The cost of the second line work is estimated to be around Rs. 4,500 crore.Managing Director of MEGA Company IP Gautam said work on the 19-km line connecting APMC (Vishala Circle) to Motera would be completed in less than three years.It will have 15 elevated stations along the route.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/work-begins-on-ahmedabad-metro-2nd-line/article8117615.ece
Modi may make fresh bid to end impasse in House
Prime Minister Narendra Modi is likely to make another attempt to break the parliamentary logjam his government is faced with after January 29, but this time around it would be for Bills other than the Goods and Services Tax (GST) Bill.This year is said to be crucial for the Modi government as it will reach the halfway mark of its tenure. The attempt now is to get a lot of its legislative agenda off the ground, without getting mired in the political battle of nerves, that is the GST.
http://www.thehindu.com/todays-paper/modi-may-make-fresh-bid-to-end-impasse-in-house/article8117729.ece
Ease of doing business vital for WB to attract investment
Improving ease of doing business is critical to West Bengal attracting investment. It is also necessary to ensure that the ‘industry-friendly’ policies percolate down the government hierarchy right till the district-level, according to Arindam Guha, Senior Director, Deloitte in India.In an exclusive interaction, Mr. Guha said while ease of doing business reforms have happened in specific departments like online taxation, the agenda seems to be an unfinished one.
http://www.thehindu.com/todays-paper/tp-business/ease-of-doing-business-vital-for-wb-to-attract-investment/article8117704.ece
Flex fuel policy of government to curb pollution worries automakers
India can soon expect a policy on flexible-fuel cars, cars that can run on bio-ethanol and petrol, or a blend of both. The government is expected to make an announcement before January 26, according to Union Transport Minister Nitin Gadkari.The move to flex-fuels will decrease pollution and encourage a diversion in the sugar industry’s output away from sugar and towards ethanol, Mr. Gadkari said at the annual meeting of the Indian Sugar Mills Association (ISMA) last month in New Delhi.
http://www.thehindu.com/todays-paper/tp-business/flex-fuel-policy-of-government-to-curb-pollution-worries-automakers/article8117715.ece
Road Ministry proposes policy on scrapping vehicles
In the Union Budget this year, the government may announce cash and tax benefits to owners of old vehicles if they scrap and replace them and may also double the fleet of public transport buses to check pollution, sources said.This is one of the Union Budget proposals given by Road, Transport and Highways Minister Nitin Gadkari to Union Finance Minister Arun Jaitley in a meeting held recently.
http://www.thehindu.com/todays-paper/tp-business/road-ministry-proposes-policy-on-scrapping-vehicles/article8117706.ece
AI to remove first class from Delhi-San Francisco flights
Owing to low occupancy, national carrier Air India has decided to do away with the first class cabin on its Delhi-San Francisco non-stop flight — barely a month after it began operations on the route.Air India officials said the airline will change the configuration of its B777-200LR aircraft to add more economy class seats which has higher demand.
http://www.thehindu.com/todays-paper/tp-business/ai-to-remove-first-class-from-delhisan-francisco-flights/article8117709.ece
‘United AP stood second in agri exports’
The Associated Chambers of Commerce and Industry (ASSOCHAM) has, in its recent survey on agricultural product exports in the country, ranked united Andhra Pradesh second in the value of commodities exported through Agriculture Export Zones (AEZs) with the export value of nearly Rs. 2,890 crore.It has the highest share of about eight per cent after Rajasthan (72 per cent) in total net exports valued at over Rs. 38,300 crore in terms of States’ actual exports through AEZs. Besides, AP has the third highest share of about 14 per cent in actual investments made in AEZs after Rajasthan (31 per cent) and Maharashtra (25 per cent). For every Rs. 1 crore invested in AEZs, united AP could export vegetables, grapes, mangoes, mango pulp, chilli and gherkins worth Rs. 14 crore, according to the ASSOCHAM study.
http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/united-ap-stood-second-in-agri-exports/article8118009.ece
Energy Department eyeing 100-minute interruption a year
Having won the global acclaim for efficiency in the power sector, the Energy Department of Andhra Pradesh is studying the best practices for meeting the international norms of less than 100 minutes of interruption per year and maximum 10 outages per feeder per year.The annual interruption, according to official sources, is at present for more than a few hundred minutes, which is better than in many other States. It will bolster the State’s chances to attract investments over and above what was mobilised at the CII Partnership Summit held at Visakhapatnam recently. The energy sector alone received investment proposals worth Rs.1.38 lakh crore.
http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/energy-department-eyeing-100minute-interruption-a-year/article8119067.ece
City gets big response for investment at Partnership Summit
The City of Destiny has struck gold at the CII Partnership Summit and Sunrise Andhra Pradesh Investment Meet held here recently raising high hopes among investors that the city will be transformed into a big financial and industrial hub in the coming years.Among the major announcements showered on Visakhapatnam was Union Minister for Chemicals and Fertilizers Ananth Kumar was the in-principle nod for establishing a petrochemical complex by State-owned HPCL and GAIL. The project is expected to involve an investment of Rs.30,000 crore to Rs.40,000 crore.
http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/city-gets-big-response-for-investment-at-partnership-summit/article8119115.ece
CM K Chandrasekhara Rao stresses on redesigning of water projects
Chief Minister K Chandrasekhara Rao who conducted a review meeting with irrigation officials at his camp office on Sunday has said he will explain to the people of Telangana on the need to re-design and re-engineer the projects on rivers Godavari and Krishna for overall improvement of irrigation in the region.
http://www.deccanchronicle.com/politics/180116/cm-k-chandrasekhara-rao-stresses-on-redesigning-of-water-projects.html
India Inc, Niti Ayog boss optimistic over growth
India leads the world business community in having the largest number of businessmen optimistic about their country’s economic revival.A survey conducted by Grant Thornton International Business Report (IBR), between October-December, asked the participants on how optimistic they are for the economy in the next 12 months. Eighty-nine of the Indian respondents said they were confident of economic recovery in 2016. Ireland followed with 88 per cent and Philippines 84 per cent.
http://www.deccanchronicle.com/market/180116/india-inc-niti-ayog-boss-optimistic-over-growth.html
Rupee depreciation will help exporters, says Assocham
Any depreciation in the rupee on account of China-led turmoil in the global financial markets should be a welcome sign for India, or else Indian exports will suffer more at the hands of China and other emerging countries witnessing correction in their currencies, said Assocham on Sunday.
http://www.deccanchronicle.com/market/180116/rupee-depreciation-will-help-exporters-says-assocham.html
Foreign investors offload Rs 3,500 crore
The severe risk aversion caused in global markets amidst growing concerns regarding the China-led global slowdown has led to overseas investors pulling out Rs 3,500 crore from the domestic equities during the first two weeks of this calendar year.
http://www.deccanchronicle.com/market/180116/foreign-investors-offload-rs-3-500-crore.html
GLOBAL
U.S. lifts sanctions on Iran
The U.S. on Saturday removed a wide range of sanctions against Iran after the International Atomic Energy Agency (IAEA) confirmed that Tehran had met its commitments to roll back its nuclear programme, under an agreement with China, France, Russia, the U.K., the U.S. and Germany on July 14 last year.Minutes after Secretary of State John Kerry, after a meeting with Iranian Foreign Minister Javad Zarif, announced in Vienna that the deal had come into force, a White House official described the development as “historic.”
http://www.thehindu.com/todays-paper/us-lifts-sanctions-on-iran/article8117738.ece
US to pay Iran $1.7 billion in debt and interest: John Kerry
The United States is to repay Iran a $400 million debt and $1.3 billion in interest dating to the Islamic revolution, Secretary of State John Kerry said Sunday.The repayment, which settles a suit brought under an international legal tribunal, is separate from the tens of billions of dollars in frozen foreign accounts that Iran can now access after the end of nuclear sanctions.
http://www.deccanchronicle.com/america/180116/us-to-pay-iran-1-7-billion-in-debt-and-interest-john-kerry.html
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INDUSTRY
Industry lauds PM’s ‘action plan’ for start-ups
Prime Minister Narendra Modi’s ‘Start-up India, Stand-up India’ programme concluded with a loud applause on Saturday evening, as he announced what entrepreneurs had been waiting to hear – a slew of policy measures.The policy measures covered in the ‘Action Plan’ unveiled by Modi include the desired handholding initiatives such as the Start-up India hub, fast-tracking of patent applications, setting up of sector-specific incubators, start-up-friendly tax regimes, and funding support through various funds.
http://www.thehindubusinessline.com/todays-paper/tp-news/industry-lauds-pms-action-plan-for-startups/article8117606.ece
INFRASTRUCTURE
Budget 2016-17 to give some clarity on PPP infra projects
In a move to ‘revitalise’ the PPP business model, which has been losing sheen, Budget 2017 is set to give some clarity on public-private-partnerships in the infrastructure sector, “We are reviewing the Vijay Kelkar Committee report to see how much of it can be implemented… The Ministry also has had talks with various stakeholders separately… Some views have been formed. We will see what best can be worked out,” Shaktikanta Das, Secretary, Department of Economic Affairs, Ministry of Finance, told BusinessLine .
http://www.thehindubusinessline.com/todays-paper/budget-201617-to-give-some-clarity-on-ppp-infra-projects/article8117577.ece
New airlines take off, but yet to soar
Indian aviation went from strength to strength in 2015, attracting many new players. Three new airlines — Vistara, Air Pegasus and Trujet — took off last year. With this, five new players now compete for passenger patronage in the domestic skies. These players have taken off, but they have a long way to reach cruising altitude and challenge the well-entrenched larger carriers.Buoyed by low fuel costs, which enabled fare cuts, air passenger traffic in the country grew at over 20 per cent last year, amongst the fastest in the world.
http://www.thehindubusinessline.com/todays-paper/new-airlines-take-off-but-yet-to-soar/article8117575.ece
Coming, an exclusive insurer for Indian ships
To reduce the insurance cost of Indian ship-owners, the Centre plans to get the four public sector general insurers to float a new joint venture. The venture will exclusively provide cover to ships operating in Indian and South Asian waters.The Shipping Ministry is spearheading the move to set up the company. A draft plan has been prepared and is being vetted by various ministries. The proposed company will be launched in the next fiscal year by the four PSU general insurers (New India Assurance, United India Insurance, National Insurance Company, and Oriental Insurance Company), said a senior Shipping Ministry official.
http://www.thehindubusinessline.com/todays-paper/coming-an-exclusive-insurer-for-indian-ships/article8117576.ece
INDIA-UK BILATERAL MEET
Jaitley to visit UK, Switzerland
Finance Minister Arun Jaitley will embark on a two-day official visit to the UK.This will be followed by a four-day official visit to Zurich in Switzerland, an official release said.In UK, Jaitley will meet his counterpart and Secretary of Exchequer George Osborne in London on Monday.He will also participate in three different investors’ meet organised by Goldman Sachs, Mastercard and Confederation of Indian Industry and Kotak Mahindra Bank, among others.On Tuesday, Jaitley will participate in India-UK Bilateral meet and Economic and Financial Dialogue.
http://www.thehindubusinessline.com/todays-paper/tp-news/jaitley-to-visit-uk-switzerland/article8117592.ece
AGRICULTURE
Crop insurance boost
The new crop insurance scheme appears to be the Modi government’s flagship agriculture initiative. It will subsidise actuarial premiums to the extent of 90 per cent, as against the present 65-70 per cent, in order to keep insurance costs low and attractive for farmers. The aim is to enhance crop insurance coverage to half the gross cropped area, against 23 per cent presently. The policy — based on the recommendations of the Commission for Agriculture Costs and Prices (CACP) in its latest rabi season report — seems directed at breaking the prevailing vicious cycle of high premiums and low coverage. There cannot be a better market for crop insurance than India — 68 per cent of the area is rainfed and, according to the CACP, there are major output dips once every three years.
http://www.thehindubusinessline.com/todays-paper/tp-opinion/crop-insurance-boost/article8117625.ece
BANKING
Andhra Bank gold bond scheme
Andhra Bank has announced the launch of Sovereign Gold Bond Scheme Tranche-II, sponsored by Government of India, for public subscription. The subscription is open during January 18-22 at all its 2,755 branches. Under the scheme, individuals, joint persons, associations and trusts can apply for gold bonds (minimum two grams and maximum of 500 grams). The tenure of the bonds is eight years with provision of premature cancellation after five years.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/andhra-bank-gold-bond-scheme/article8117642.ece
TRADE
Cheaper oil, more trade opportunities for India
The lifting of the sanctions on Iran will benefit India with lower oil prices and more opportunities for trade, according to experts. It should also bring the proposed India-Iran gas pipeline closer to reality.“There will be a further softening of global crude prices. Iran will gradually ramp up production by 0.5 million barrels per day over the next six months. This will add to the overall supply glut,” K.Ravichandran, senior vice-president and co-head, corporate sector rating at ICRA told The Hindu .
http://www.thehindu.com/todays-paper/cheaper-oil-more-trade-opportunities-for-india/article8117730.ece
India, EU officials to meet today on FTA
Senior officials of India and the European Union are expected to hold discussions on Monday on the stalled negotiations for the proposed free trade agreement (FTA). “Both the sides would review the progress of talks and ways to move forward,” an official said.
http://www.thehindu.com/todays-paper/tp-business/india-eu-officials-to-meet-today-on-fta/article8117710.ece
VISA
India may ease visa norms for China
India is all set to overhaul its security cooperation agreement with China and further liberalise visa norms for the neighbouring country, a senior government official has told The Hindu.If the agreement comes through, China will deport Indians accused of terrorist acts and operating in Chinese territory after its agencies conduct an independent probe, the official said.To begin with, a Memorandum of Understanding (MoU) signed in 2005 between the Ministry of Home Affairs and the Ministry of Public Security, People’s Republic of China, is being revisited to expand its scope, said the official. The MoU was signed for exchange of security-related information to combat terrorism.
http://www.thehindu.com/todays-paper/india-may-ease-visa-norms-for-china/article8117739.ece
STATE
Kerala Tourism woos Silicon Valley executives
Kerala Tourism is making a pitch to executives and employees of Silicon Valley to come to God’s Own Country during the ‘Visit Kerala Year.’ “We want to invite the management of these companies to host corporate retreats here,” said G Kamala Vardhana Rao, Principal Secretary, Tourism, who is heading a cultural delegation to the Valley.The ‘first ever corporate meet at the Valley’ was intended to introduce Kerala as a destination for companies there and also to portray it as an investor-friendly destination, Rao said. He also presented on behalf of Kerala State Industrial Development Corporation various investment opportunities available in the State.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/kerala-tourism-woos-silicon-valley-executives/article8117617.ece
UAE law firm begins operations in Kochi
The UAE-based law firm Musthafa & Almana has opened its “global consulting legal and business innovation centre” at SmartCity Kochi.“People in the State are familiar with the services offered by law firms in India and abroad, but will instead approach an advocate for legal assistance on matters of their firms,” said Musthafa Zafeer OV, founder and managing director of the company.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/uae-law-firm-begins-operations-in-kochi/article8117649.ece
Maharashtra may buy gypsum panels
The Maharashtra government has shown interest in using GFRG (glass fibre reinforced gypsum) panels manufactured by FRBL (FACT-RCF Building Products Ltd) here for its upcoming developmental projects. An assurance in this regard was given by Chief Minister Devendra Fadnavis during a recent meeting with Jaiveer Srivastava, CMD (FACT) & Chairman (FRBL), CP Dinesh, MD (FRBL) and others. According to Srivastava, the Chief Minister promised all possible help to popularise the glass fibre re-inforced gypsum panels manufactured by FRBL.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/maharashtra-may-buy-gypsum-panels/article8117648.ece
Concrete roads: Centre uses portal to negotiate with cement firms
The Union Ministry of Road Transport and Highways (MoRTH) has started price negotiations with cement companies for supply to concrete road projects through INAM-Pro, a web-based portal for infrastructure and materials providers launched by the Ministry in March 2015.“The new price will be for a period of three years starting April 1, 2016. Negotiations were held with over 25 cement companies that will supply specific quantities of cement at an agreed price for customers ordering through the portal,” said Sanjay Saju, Director (Fin/Admn), National Highways & Infrastructure Development Corporation Ltd, which runs the portal.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/concrete-roads-centre-uses-portal-to-negotiate-with-cement-firms/article8117613.ece
Link procurement policy to price: Kassia
Karnataka Small Scale Industries Association (Kassia) has urged the Union MSME Ministry to implement the public procurement policy along with the price preference policy.The objective of the procurement policy is to facilitate increased business fusion between premier public sector units and SMEs through appropriate marketing linkages.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/link-procurement-policy-to-price-kassia/article8117644.ece
Work begins on Ahmedabad Metro 2nd line
Work on the second line of Ahmedabad Metro Rail project’s North-South Corridor was launched on Sunday. Chief Minister Anandiben Patel performed the groundbreaking for the project here.The cost of the second line work is estimated to be around Rs. 4,500 crore.Managing Director of MEGA Company IP Gautam said work on the 19-km line connecting APMC (Vishala Circle) to Motera would be completed in less than three years.It will have 15 elevated stations along the route.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/work-begins-on-ahmedabad-metro-2nd-line/article8117615.ece
Modi may make fresh bid to end impasse in House
Prime Minister Narendra Modi is likely to make another attempt to break the parliamentary logjam his government is faced with after January 29, but this time around it would be for Bills other than the Goods and Services Tax (GST) Bill.This year is said to be crucial for the Modi government as it will reach the halfway mark of its tenure. The attempt now is to get a lot of its legislative agenda off the ground, without getting mired in the political battle of nerves, that is the GST.
http://www.thehindu.com/todays-paper/modi-may-make-fresh-bid-to-end-impasse-in-house/article8117729.ece
Ease of doing business vital for WB to attract investment
Improving ease of doing business is critical to West Bengal attracting investment. It is also necessary to ensure that the ‘industry-friendly’ policies percolate down the government hierarchy right till the district-level, according to Arindam Guha, Senior Director, Deloitte in India.In an exclusive interaction, Mr. Guha said while ease of doing business reforms have happened in specific departments like online taxation, the agenda seems to be an unfinished one.
http://www.thehindu.com/todays-paper/tp-business/ease-of-doing-business-vital-for-wb-to-attract-investment/article8117704.ece
Flex fuel policy of government to curb pollution worries automakers
India can soon expect a policy on flexible-fuel cars, cars that can run on bio-ethanol and petrol, or a blend of both. The government is expected to make an announcement before January 26, according to Union Transport Minister Nitin Gadkari.The move to flex-fuels will decrease pollution and encourage a diversion in the sugar industry’s output away from sugar and towards ethanol, Mr. Gadkari said at the annual meeting of the Indian Sugar Mills Association (ISMA) last month in New Delhi.
http://www.thehindu.com/todays-paper/tp-business/flex-fuel-policy-of-government-to-curb-pollution-worries-automakers/article8117715.ece
Road Ministry proposes policy on scrapping vehicles
In the Union Budget this year, the government may announce cash and tax benefits to owners of old vehicles if they scrap and replace them and may also double the fleet of public transport buses to check pollution, sources said.This is one of the Union Budget proposals given by Road, Transport and Highways Minister Nitin Gadkari to Union Finance Minister Arun Jaitley in a meeting held recently.
http://www.thehindu.com/todays-paper/tp-business/road-ministry-proposes-policy-on-scrapping-vehicles/article8117706.ece
AI to remove first class from Delhi-San Francisco flights
Owing to low occupancy, national carrier Air India has decided to do away with the first class cabin on its Delhi-San Francisco non-stop flight — barely a month after it began operations on the route.Air India officials said the airline will change the configuration of its B777-200LR aircraft to add more economy class seats which has higher demand.
http://www.thehindu.com/todays-paper/tp-business/ai-to-remove-first-class-from-delhisan-francisco-flights/article8117709.ece
‘United AP stood second in agri exports’
The Associated Chambers of Commerce and Industry (ASSOCHAM) has, in its recent survey on agricultural product exports in the country, ranked united Andhra Pradesh second in the value of commodities exported through Agriculture Export Zones (AEZs) with the export value of nearly Rs. 2,890 crore.It has the highest share of about eight per cent after Rajasthan (72 per cent) in total net exports valued at over Rs. 38,300 crore in terms of States’ actual exports through AEZs. Besides, AP has the third highest share of about 14 per cent in actual investments made in AEZs after Rajasthan (31 per cent) and Maharashtra (25 per cent). For every Rs. 1 crore invested in AEZs, united AP could export vegetables, grapes, mangoes, mango pulp, chilli and gherkins worth Rs. 14 crore, according to the ASSOCHAM study.
http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/united-ap-stood-second-in-agri-exports/article8118009.ece
Energy Department eyeing 100-minute interruption a year
Having won the global acclaim for efficiency in the power sector, the Energy Department of Andhra Pradesh is studying the best practices for meeting the international norms of less than 100 minutes of interruption per year and maximum 10 outages per feeder per year.The annual interruption, according to official sources, is at present for more than a few hundred minutes, which is better than in many other States. It will bolster the State’s chances to attract investments over and above what was mobilised at the CII Partnership Summit held at Visakhapatnam recently. The energy sector alone received investment proposals worth Rs.1.38 lakh crore.
http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/energy-department-eyeing-100minute-interruption-a-year/article8119067.ece
City gets big response for investment at Partnership Summit
The City of Destiny has struck gold at the CII Partnership Summit and Sunrise Andhra Pradesh Investment Meet held here recently raising high hopes among investors that the city will be transformed into a big financial and industrial hub in the coming years.Among the major announcements showered on Visakhapatnam was Union Minister for Chemicals and Fertilizers Ananth Kumar was the in-principle nod for establishing a petrochemical complex by State-owned HPCL and GAIL. The project is expected to involve an investment of Rs.30,000 crore to Rs.40,000 crore.
http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/city-gets-big-response-for-investment-at-partnership-summit/article8119115.ece
CM K Chandrasekhara Rao stresses on redesigning of water projects
Chief Minister K Chandrasekhara Rao who conducted a review meeting with irrigation officials at his camp office on Sunday has said he will explain to the people of Telangana on the need to re-design and re-engineer the projects on rivers Godavari and Krishna for overall improvement of irrigation in the region.
http://www.deccanchronicle.com/politics/180116/cm-k-chandrasekhara-rao-stresses-on-redesigning-of-water-projects.html
India Inc, Niti Ayog boss optimistic over growth
India leads the world business community in having the largest number of businessmen optimistic about their country’s economic revival.A survey conducted by Grant Thornton International Business Report (IBR), between October-December, asked the participants on how optimistic they are for the economy in the next 12 months. Eighty-nine of the Indian respondents said they were confident of economic recovery in 2016. Ireland followed with 88 per cent and Philippines 84 per cent.
http://www.deccanchronicle.com/market/180116/india-inc-niti-ayog-boss-optimistic-over-growth.html
Rupee depreciation will help exporters, says Assocham
Any depreciation in the rupee on account of China-led turmoil in the global financial markets should be a welcome sign for India, or else Indian exports will suffer more at the hands of China and other emerging countries witnessing correction in their currencies, said Assocham on Sunday.
http://www.deccanchronicle.com/market/180116/rupee-depreciation-will-help-exporters-says-assocham.html
Foreign investors offload Rs 3,500 crore
The severe risk aversion caused in global markets amidst growing concerns regarding the China-led global slowdown has led to overseas investors pulling out Rs 3,500 crore from the domestic equities during the first two weeks of this calendar year.
http://www.deccanchronicle.com/market/180116/foreign-investors-offload-rs-3-500-crore.html
GLOBAL
U.S. lifts sanctions on Iran
The U.S. on Saturday removed a wide range of sanctions against Iran after the International Atomic Energy Agency (IAEA) confirmed that Tehran had met its commitments to roll back its nuclear programme, under an agreement with China, France, Russia, the U.K., the U.S. and Germany on July 14 last year.Minutes after Secretary of State John Kerry, after a meeting with Iranian Foreign Minister Javad Zarif, announced in Vienna that the deal had come into force, a White House official described the development as “historic.”
http://www.thehindu.com/todays-paper/us-lifts-sanctions-on-iran/article8117738.ece
US to pay Iran $1.7 billion in debt and interest: John Kerry
The United States is to repay Iran a $400 million debt and $1.3 billion in interest dating to the Islamic revolution, Secretary of State John Kerry said Sunday.The repayment, which settles a suit brought under an international legal tribunal, is separate from the tens of billions of dollars in frozen foreign accounts that Iran can now access after the end of nuclear sanctions.
http://www.deccanchronicle.com/america/180116/us-to-pay-iran-1-7-billion-in-debt-and-interest-john-kerry.html
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