7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
Foreign investments are set to gain momentum after 2014 general elections, but a 'magic' work is unlikely for the overall economy in the immediate future, says India Ratings' chief Atul Joshi.
'Adani can attract vessels at a much lower cost to Vizhinjam as he has the financial muscle to do so.'
'They are also sitting on huge public sector assets without many returns.'
India was for the first time the leading country in the world for FDI, overtaking the US.
India will need $8 trillion (around Rs 588 lakh crore) of gross capital formation or new greenfield assets to become a $5 trillion (around Rs 368 lakh crore) economy by FY2027, a report said. The report by Deloitte said despite the COVID-19 disruption, FDI inflow into the country provides necessary optimism and display underlying strengths of the Indian economy. In FY2020-21, FDI inflows (including equity, re-invested earnings, and capital) amounted to a record $81.72 billion, 10 per cent higher than the previous financial year, it said.
Tata Group's infrastructure and construction arm, Tata Projects, has bagged the contract to construct the upcoming Noida International Airport at Jewar, in Uttar Pradesh. As part of the contract, Tata Projects will construct the terminal, runway, airside infrastructure, roads, utilities, landside facilities and other ancillary buildings at the airport, Yamuna International Airport Private Limited (YIAPL) said in a statement on Friday. YIAPL is a 100 per cent subsidiary of Swiss developer Zurich Airport International AG and has been incorporated as a Special Purpose Vehicle to develop Noida International Airport. In 2019, Zurich Airport International AG won the bid to develop the airport.
FDI in brownfield investment has resulted in acquisition of domestic drug-manufacturing firms by multinational companies.
A series of steps taken by the government to promote ease of doing business and liberalisation of foreign direct investment norms have helped India receive record FDI inflows so far this year, and implementation of measures like PM Gati Shakti, single window clearance and GIS-mapped land bank are expected to further push investments in 2022. Notwithstanding the global slowdown and the COVID-19 pandemic, total foreign direct investments into India rose to a record $81.72 billion in 2020-21. During April-July this fiscal, FDI (foreign direct investment) into the country increased by 62 per cent to $27.37 billion.
The Jewar Airport or the Noida International Greenfield Airport will be spread over 5,000 hectares when fully built at an estimated to cost Rs 29,560 crore.
The Parliamentary Standing Committee on Commerce has observed that a massive shortfall in the budgetary allocation of over Rs 1,900 crore by the finance ministry to the industry department may have an adverse impact on the implementation of infrastructure (infra) projects in 2022-23 (FY23). While the Department for Promotion of Industry and Internal Trade (DPIIT) had sought Rs 10,267 crore from the finance ministry for FY23, it received Rs 8,348-crore allocation. For the National Industrial Corridor Development & Implementation Trust (NICDIT), the finance ministry has allocated Rs 1,500 crore instead of Rs 2,400 crore demanded for the project.
Meso America, a venture promoted by two non-resident Indians selling food service products in the United States on Thursday announced its entry into the Indian market in partnership with another US company Polar Ware.
'The escalation of tension along the border of Ukraine with the Russian Federation is a matter of deep concern'
Putin justified his decision in a speech blaming NATO for the current crisis and calling the US-led alliance an existential threat to Russia.
India's largest private port operator Adani Ports and SEZ (APSEZ) Ltd has emerged as the highest bidder for the West Bengal government's greenfield deep-sea port project at Tajpur in a neck-to-neck fight with JSW Group, a source said on Friday. APSEZ and Sajjan Jindal-led JSW Group were the only two entities that took part in the financial bid round, though there were more port and logistics majors who had expressed initial interest in the estimated Rs 7,000-crore project in Purba Medinipur district. "APSEZ is the highest bidder, offering a share of 0.25 per cent of gross revenue. "It was marginally higher than the second bidder who offered 0.23 per cent," a senior government official said, without wanting to be named.
The words 'industry', 'industrial development', 'jobs', and 'employment' have been ringing with higher frequency since Mamata Banerjee stepped into her third term with landslide victory after a high-octane election last year. "Our government's next target is industrial development," the chief minister (CM) had been heard stating at different public meetings in the past few months - perhaps setting the tone for the sixth edition of the Bengal Global Business Summit (BGBS) slated for later this month. Investor summits by any state are about intent, big numbers, and tall claims. Yet in competitive federalism, its importance as a marketing tool is undeniable.
Newer asset classes such as data centres and rental housing gained prominence among investors.
Govt to review decision after demand assessment.
All airport projects including greenfield projects would require environmental clearance, according to the new draft National Environment Policy.
'This will have a multiplier effect in generating more jobs.'
These have been selected based on the earnings growth prospects and favourable (buy) ratings by brokerages
The country's first ever carmaker, Hindustan Motors, is looking at a second coming. Talks are on for a joint venture with a European auto company focused on the electric vehicle (EV) space. A memorandum of understanding (MoU) has been signed and due diligence is expected to start shortly and will take 2-3 months to conclude.
A bench of Chief Justice N V Ramana and Justice Manmohan issued notice to Civil Aviation Ministry, DGCA and others and sought their response by October 30.
There is little that Andreas Schmid, the Swiss-born chairman of Flughafen Zurich AG (Zurich Airport International AG), and Yogi Adityanath, chief minister of Uttar Pradesh (UP), could have in common. But Schmid, whose company is building the Noida airport in partnership with the UP government, finds himself on the same footing as the firebrand Hindutva leader who rules the state. Both hope the Rs 30,000-crore ($4 billion) project, hanging fire for 20 years, shows some progress when UP goes to the polls in 2022.
The government would try to minimise layers in FDI ceilings.
Post-bribery disclosure, Cognizant is not pursuing greenfield expansion in the country and relying on leased facilities for new demands. The incident, which came to light in 2016, is also said to have claimed 200-300 jobs so far mainly in areas like administration, legal, and procurement.
BPCL's impending privatisation and RIL's stake sale to Saudi Aramco raise questions about the future of the West Coast Refinery, once touted as the world's largest.
Two of the world's leading steel-makers, ArcelorMittal and Posco, had proposed to invest Rs 91,000 crore (Rs 910 billion) for setting up mega steel units in Orissa, but their actual investment was negligible even about half a decade after signing MoUs with the state government.
Even as German airport developer Fraport AG is shutting its operations in India, deciding to sell its small stake in the Delhi airport, its competitor in Europe, Zurich Airport, is bullish on Asia's third-largest economy. The company is eying investments in the greenfield international airport projects at Navi Mumbai and Goa.
DP World (formerly known as Dubai Ports) is keen on setting up a greenfield airport in West Bengal near Kolkata, which is a long standing demand of the ruling Left Front government.
The company also has plans to set up a 1.4 million tonnes per annum alumina refinery in Andhra Pradesh.
The good news for PepsiCo is that the foods segment has normalised much faster to pre-pandemic levels than beverages.
Giving an idea of the scale of its ambitions, the four-month-old airline recently placed an order for 50 aircraft even as the sector is struggling.
Apart from around 40 Japanese companies and five global vendors of MG Motor India, many other biggies are eyeing Gujarat for either greenfield opportunities or brownfield expansion.
Information technology firm Global Exchange Services on Tuesday said it plans to add about 50 people this year at its centre in Bangalore, which currently employs 150 people.
Given the gestation period for regulatory clearances it is not possible to share any definite timelines.
A senior delegation from PSA Peugeot Citroen, France's leading car producer, is expected to meet the Tamil Nadu government next week.
Jamshedpur plant is expanding its capacity at a cost of Rs. 20,000 crore.
