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Foreign investments worth $100 bn knocking at India’s doors: Modi
DSK Hyosung eyes 50% rise in sales of its superbikes
Vodafone seeks spectrum urgently
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Govt notifies 25% public float norms for listed PSUs
Facebook sees huge growth potential in India
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Foreign investments worth $100 bn knocking at India’s doors: Modi
New Delhi, October 9 "$100 billion investments from Japan, China and America have applied for visa. Now it is turn of the states to capitalise on the opportunity. The roads are wide open. The states which are ready can walk away with major share," he said while inaugurating the Global Investors' Summit in Indore. The Prime Minister added that the Centre would stand shoulder to shoulder with all states, irrespective of political affiliation of the state government, to facilitate investment and economic growth. Following the announcement by the Prime Minister on his Japan visit, the Department of Industrial Policy & Promotion (DIPP) today announced it has set up a special management team to facilitate and fast track investment proposals from Japan. The team, known as “Japan Plus”, will comprise representatives from the government and METI (Ministry of Economy, Trade and Industry) and Government of Japan. An outcome of the recently concluded visit of the Prime Minister of India to Japan, the mandate of the “Japan Plus” team runs through the entire spectrum of investment promotion – research, outreach, promotion, facilitation and aftercare. The team will support the Government of India in initiating, attracting, facilitating, fast tracking and handholding Japanese investments across sectors. The team will also be responsible for providing updated information on investment opportunities across sectors, in specific projects and in industrial corridors in particular. In addition, the “Japan Plus” team will identify prospective Japanese companies, including, Small and Medium Enterprises (SMEs) and facilitate their investments in India. The government has also constituted a core group chaired by Cabinet Secretary on India-Japan Investment Promotion Partnership. During the recent visit of the Prime Minister to Japan, the India–Japan Investment Promotion Partnership, as part of the Tokyo Declaration for India – Japan Special Strategic and Global Partnership was announced. Under this Investment Promotion Partnership, Japan has offered to invest in India approximately 3.5 trillion Yen ($33.5 billion) by way of public and private investment and financing, including Overseas Development Assistance, over the next five years. Reliance ADAG to invest Rs
60,000 cr in MP
Reliance Anil Dhirubhai Ambani Group (ADAG) will invest Rs 60,000 crore in power, coal, cement and telecom businesses in Madhya Pradesh by 2020, its chairman Anil Ambani said today. He said Reliance Group has, over the past 5 years, invested in four key areas of coal, power, cement and telecom. Adani Group promises Rs
20,000 cr investments
Adani Group-led by billionaire Gautam Adani today pledged to invest Rs 20,000 crore in Madhya Pradesh during the next five years in various projects. The Group is also partnering the state government in creating agri infrastructure facility for storage of 3.5 lakh grains. In field of power generation, the group is shortly commencing the construction of 2X660 MW at Chindwara and also an MoU will be signed soon for faster evacuation of cargo from Hazira and Mundra ports. RIL to complete
Rs 20,000-cr investment in MP
Reliance Industries’ chairman Mukesh Ambani today said his group will complete Rs 20,000-crore investment programme in Madhya Pradesh by March 2016. "We are in the midst of a major investment programme in MP which ends in the next 18 months. We are investing cumulatively Rs 20,000 crore... We will then re-engage," he said. Suzlon Energy to pump in
Rs 15,000 crore
Suzlon Energy will invest close to Rs 15,000 crore in the next five years to set up power projects of 2,000 MW capacity in Madhya Pradesh. The company will also set up a manufacturing base in the state. This was stated by Suzlon Group chairman Tulsi Tanti. |
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DSK Hyosung eyes 50% rise in sales of its superbikes
Chandigarh, October 9 Having captured a 30% market share in the superbikes segment, the company is expanding its reach in both urban and rural geographies. It has managed to clock over 25% of its sales from the semi-urban and rural areas. Talking to The Tribune, Shirish Kulkarni, chairman of DSK Hyosung, said of the total market of 9,000 superbikes per annum in the country, they will sell 3,000 units, making them the market leader in superbikes. "Last year, we had sold 1,800 units and this year we hope to sell 3,000 units. By the end of next fiscal (2014-15), we would be selling 4,500 units," he said, adding that the superbike market in the country is growing at a steady pace of 25% year-on-year. As of now, the company is importing the bikes from Korea as CKDs and then assembling them at Pune. "We have already invested Rs 120 crore. We are now in the process of setting up the new plant at Karad and it will be commissioned by 2017-18. Once this plant is operational, our total investment will be close to Rs 420 crore," he said. He said they were also looking at increasing the dealerships in the country.
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Vodafone seeks spectrum urgently
New Delhi, October 9 The company has also sought extension of the spectrum’s validity by six months from the date of allocation. Telecom companies, which won spectrum in the auction and paid for it in the first week of March, are yet to be assigned radiowave frequencies that are used for transmitting mobile signals. Vodafone’s licences for telecom services in Delhi, Mumbai and Kolkata are due to expire in November for which it had to buy spectrum afresh to continue operations. — PTI
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Govt notifies 25% public float norms for listed PSUs
New Delhi, October 9 To comply with these norms, over 30 listed PSUs will need to raise their public shareholding to minimum 25% by August 21, 2017, as per a notification for amendment to the Securities Contracts (Regulation) Rules. — PTI |
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Facebook sees huge growth potential in India
New Delhi, October 9 Sources say the government is also likely to explore with Zuckerberg the possibility of Facebook in Indian languages. Zuckerberg, who is in on a maiden India visit to attend the first Internet.org summit and launch the service in India, will also meet Telecom Minister Ravi Shankar Prasad. He is also expected to meet some key ministers associated with social sector schemes, including Swachh Bharat Mission— Prime Minister’s pet project. The PM is likely to discuss with Zuckerberg how Facebook can be helpful in spreading awareness about social causes like “Clean Ganga, Swachh Bharat Abhiyaan, female foeticide, education, specifically girl child education”. Facebook’s India’ plans include a $1 million fund to help develop apps for farmers, migrants and women. “India is an amazing country with unlimited potential. It is a place of big ambitions and Facebook is deeply committed to it,” Zuckerberg said. Mission of Internet.org
Launched globally last year, Internet.org aims to bring Internet connectivity to two-thirds of the global population that is not connected. Founding members of the project include Facebook, Ericsson, MediaTek, Nokia, Opera, Qualcomm and Samsung. |
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Rupee gains 35 paise to hit one-week high of 61.05 vs $ Mumbai: The rupee on Thursday rose by 35 paise to end at 61.05 against the dollar on persistent selling of the US currency from banks and exporters tracking global cues amid a surge in local equities. — PTI Ericsson bags 4G network deal from Bharti Airtel New Delhi:
Ericsson on Thursday said it has signed a LTE or 4G network deal with country's largest mobile operator Bharti Airtel. The company, however, refused to share more information on the deal, including the financial and circle details. — PTI Cox & Kings to raise ~1,200 cr New Delhi:
Cox & Kings on Thursday said it would raise Rs 1,200 crore from the market by issuing securities. "The Board has approved raising of funds for an amount not exceeding Rs 1,200 crore through issuance of securities, including shares or equity-linked securities," it said. — PTI Dish TV launches new package for North India Chandigarh: With over 17 million subscribers, DTH company Dish TV has introduced an all-new package for its new and existing customers in North India. “Our new packaging with an enhanced focus on high definition (HD) content is in response to our consumers’ viewing habits, making quality entertainment more accessible and economical,” said Salil Kapoor, COO, Dish TV. — TNS |
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Signalling a massive dose of FDI in manufacturing, Prime Minister Narendra Modi today said $100 billion worth of foreign investments is headed India’s way and it is up to the states to take advantage of the inflow.
"$100 billion investments from Japan, China and America have applied for visa. Now it is turn of the states to capitalise on the opportunity.
Facebook CEO and co-founder Mark Zuckerberg will meet Prime Minister Narendra Modi tomorrow. Apart from discussions on development of low-cost Internet service and improving connectivity, especially in rural India, the Prime Minister is expected to touch upon country-specific social issues and how these can be addressed via the social media.
