AP has potential to add 1,000 mw of wind power

Source: The Hindu Business Line, May 14, 2012

Hyderabad:Andhra Pradesh has potential to add 1,000 mw per annum of wind power projects but some local issues are holding up their implementation, according to Mr. K. Kasthoori Rangaian, Chairman of Indian Wind Power Association.

The State has potential to develop about 15,000 mw of wind power but lower tariff structure; clearances and need for power purchase agreements are matters that the association and independent power developers are concerned about to harness the potential of this vital renewable energy source.

Indian IT infra market to reach $3 bn by 2016

Source: Business standard, May 15, 2012

The Indian information technology (IT) infrastructure market, comprising servers, storage and networking equipment, would reach $3 billion by 2016. According to research firm Gartner, the IT infrastructure market is expected to reach $2 billion in 2012, a 10.3 per cent increase over 2011.

“Technology’s role in enterprises is increasing and IT’s closer alignment with business, and vice-versa, is a topic of much focus within Indian enterprises today. Soon, there will be a time when there is no IT strategy, only a business strategy, as leading CIO’s are seeing technology as a business enabler and an engine for innovation,” said Aman Munglani, research director at Gartner.

Revenue growth will be primarily driven by ongoing data centre modernisation and new data centre build outs. Servers are the largest segment of the Indian IT infrastructure market, as revenue is expected to reach $754.5 million in 2012, and grow to $967.2 million in 2016.

 

Reckitt Benckiser expects India to be largest market in 3-5 years

Source: The Economic Times, May 07, 2012

NEW DELHI: Consumer goods major Reckitt Benckiser today said it expects the Indian operations to become its biggest market globally in terms of revenue in the next 3-5 years.

“My aim and vision is that India should become the single biggest market in the next 3-5 years for Reckitt Benckiser in revenue,” Reckitt Benckiser South East Asia Senior Vice- President Chander Mohan Sethi told PTI.

World Bank finances projects worth Rs 22,400 crore in India: Government

Source: The Economic Times, Apr 25, 2012

NEW DELHI: Seven World Bank-sponsored projects, worth about Rs 22,426 crore, are being implemented across the country to improve delivery in centrally-funded schemes and meet other objectives, the government said today.

“The projects include National Rural Livelihoods Project (USD 982 million; about Rs 5,106 crore), PMGSY Rural Roads Project (USD 1,517 million; approx Rs 7,826 crore), Vocational Training India (USD 287 million; about Rs 1,492 crore) and Technical Engineering Education Quality Improvement II (USD 286 million; approx Rs 1,487 crore),” Minister of State for Personnel and Public Grievances V Narayanasamy told Lok Sabha in a written reply.

Rs 150-cr Mega Food Park over 100 acres to come up in Lucknow

Source: Business standard, Apr 23, 2012

New Delhi/Lucknow: Taking forward its agenda of promoting Lucknow as a major industrial hub, Uttar Pradesh has planned a Mega Food Park spread over 100 acres in the state capital.

The land is available with the government and the project cost is estimated at over Rs 150 crore.

Foreigners may get to buy $10 billion corporate bonds

Source: The Economic Times, Apr 23, 2012

NEW DELHI/MUMBAI: The finance ministry has asked the Reserve Bank to open a $10-billion window for individual foreign investors in corporate debt, hoping high yields on Indian paper will attract greater flows and prevent large government borrowing from pushing up interest rates.

This year’s budget has proposed to allow qualified foreign investors, including individuals, trusts and pension funds, to invest in bonds of companies. At present, FIIs can invest up to $15 billion in government bonds and $20 billion in corporate bonds.

Road and highway companies get access to foreign loans

Source: The Economic Times, Apr 19, 2012

NEW DELHI: India has allowed its road and highway companies to raise overseas debt and also relaxed norms for power companies to refinance their rupee loans through cheaper external commercial borrowings, giving a push to these capital-intensive sector that have struggled under the weight of their borrowings.

Power companies will now be able to raise overseas debt to refinance their rupee loans up to a maximum limit of 40%, provided the remaining 60% of the ECB is used for investment in a new project.

FIIs can invest in commodity exchanges without govt nod

Source: The Financial Express, April 11, 2012

New Delhi:The government on Tuesday allowed foreign institutional investors (FIIs) to invest in commodity exchanges without any approvals. The move, apart of the review of FDI norms, aims at reducing red tape, but futures market participants discounted any significant gains due to the ‘cosmetic’ policy change.

At present, the country allows only up to 26% FDI and 23% foreign institutional investment in commodity exchanges, within a 49% cap on total foreign investments in the sector. FDI proposals will still need clearance from the Foreign Investment Promotion Board (FIPB).

Decision on Aviation FDI Likely This Week

Source: The Economic Times, April 11, 2012

New Delhi: The government is close to allowing foreign airlines to pick up stakes in Indian carriers, throwing a potential lifeline to struggling aviation companies. “The Cabinet is likely to decide on the proposal to allow investments by foreign carriers into Indian ones this week,” a senior official from the civil aviation ministry told ET.An immediate beneficiary could be financially stressed Kingfisher Airlines, whose owner Vijay Mallya recently said the revival of his airline depends on government policy.

Government to set 25% floor for JV partners in FDI

Source: The Financial Express, April 08, 2012

New Delhi: The government is likely to define the term ‘joint venture’ for the purpose of foreign direct investment (FDI), under which it would be mandatory for at least two partners to have minimum 25% stake each in the JV company.

The definition of ‘joint venture’ will be incorporated into the consolidated FDI policy, which is to be unveiled shortly.