Meanwhile, for the fortnight ended March 20, deposits grew 11.42% y-o-y.
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.
'Adani can attract vessels at a much lower cost to Vizhinjam as he has the financial muscle to do so.'
The Cabinet Committee on Economic Affiars had approved the Rs 1,293 crore (Rs 12.93 billion) greenfield project spread across 450 hectares. British consultancy firm Mott Macdonald has been engaged to prepare bid documents for the procurement. As a special railway joint venture project, it envisages manufacturing locos with 12,000 HP to carry 5,000 tonnes of freight at 100 km per hour on all terrains.
Anil Ambani will take over as the chairman of Pipavav Defence
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.
India was for the first time the leading country in the world for FDI, overtaking the US.
In a departure from its stand, the government has decided to go ahead with the privatisation of the four airports.
Is it inconsistency in policy, or the lack of robust support?
'We would like to develop Andhra Pradesh into a logistics hub not only for India, but also for South Asia.'
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.
CEOs from various sectors were part of the survey.
Leading property developers, such as Oberoi Realty, Tata Realty and Infrastructure, and Hiranandani, have turned to redevelopment of existing buildings in the expensive parts of Mumbai as a way of augmenting revenue. Experts estimate that Mumbai's redevelopment projects could be worth Rs 30,000 crore. As such, they are not new. What is new is that the big developers are interested in them. Leading the race is Oberoi Realty, which has set up a separate team for these projects.
India's economy could prove to be the "most resilient" in the subregion of South and South-West Asia over the long term, according to a report by the UN, which says a positive but lower economic growth post COVID-19 pandemic and the country's large market will continue to attract investments. The report titled 'Foreign Direct Investment Trends And Outlook In Asia And The Pacific 2020/2021', and compiled by United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), stated that inward FDI flows to South and South-West Asia slightly decreased by 2 per cent in 2019, from $67 billion in 2018 to $66 billion in 2019. The growth, however, was mainly driven by India, which accounted for 77 per cent of the total inflows to the subregion and received $51 billion in 2019, up 20 per cent from the previous year.
The recent Cabinet approval to private and greenfield airport policies has enhanced the powers of the Directorate General of Civil Aviation (DGCA), which is now one of the key licensing authorities for almost all future airport projects in the country.
'He was sought after because he delivered.' Ishita Ayan Dutt profiles Tata Steel's new boss.
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.
Zomato has the potential to be an equally important milestone for Indian equity markets, notes Akash Prakash.
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.
The pandemic has brutally highlighted the inadequacy of India's administrative systems. And, the government has demonstrated its culpable inability to speed up vaccination in a timely manner, says Jaimini Bhagwati.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
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 economy needed 3 or 4 major fixes. The major one was, of course, the direct tax structure, but we ended up complicating the existing convoluted tax structure,' says M R Venkatesh, chartered accountant and lawyer.
While seven companies bagged orders worth Rs 42,000 crore, industry experts said most of this new order activity was a spillover, and fresh project finalisation remains weak.
Tata Group is in discussions with some major international companies, including those from Taiwan, for its foray into the semiconductor chip business. The Union government had earlier tried to bring in Taiwanese manufacturers Taiwan Semiconductor Manufacturing Company (TSMC) and United Microelectronics Corporation (UMC) for chip manufacturing in India. A person close to the development said the Tatas have now opened a separate channel for a possible tie-up. Currently, India mostly imports chips, which are fabricated and assembled to put into various applications, including automobiles, renewable power, mobile phones, televisions, and other electronic items.
Hindalco has already bagged 4 mines in Jharkhand and Chhattisgarh
With average capacity utilisation now touching 76 per cent, Indian companies are going back to the drawing board to add capacity but the plans to build new factories and plants are still some months away.
India's inability to set up new projects means older, inefficient companies reap windfall profits while new businesses will struggle.
Coal India achieved a staggering production of 536.51 million tonnes during the financial year ended March 31, 2016
Industry seeks cut in customs duty on natural rubber.
A new greenfield airport will come up at Sriperumbudur and Tiruvallur taluks near Chennai, while there are expansion plans for the existing airport at Meenambakkam, according to Tamil Nadu Chief Minister M Karunanidhi.
The indirect tax reform Goods and Services Tax is stuck in the Rajya Sabha.
That would reverse the growth trend of around 11 per cent per annum, which the industry has logged over the past ten years, making it one of the most adversely-affected sectors of the economy.
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.
Newer asset classes such as data centres and rental housing gained prominence among investors.
While inaugurating the projects, Modi said highways construction has reached 27-km a day from mere 12-km a day during the Congress regime.
With over 45 healthcare facilities and over 300 vibrant diagnostic centres, Fortis is India's second-largest hospital chain -- next only to Apollo, which has 64 hospitals with 10,000 beds. Therefore, any international or domestic hospital chain that buys Fortis will simply catapult to the numero uno position.
ArcelorMittal announced on Wednesday a new leadership for India, where Vijay Bhatnagar will spearhead the company's operations and proposed steel projects in the country. Bhatnagar will take up the new position of Country CEO, India and will have ultimate responsibility for the company's operations and projects in the country, a statement from ArcelorMittal said.
The government would try to minimise layers in FDI ceilings.
