Government awards 49 port projects worth Rs 8,341 crore in FY17

Source: The Economic Times, Apr 17, 2017

NEW DELHI: The government awarded 49 port projects with an investment of Rs 8,341 crore in the previous fiscal, which will result in capacity addition of 104 MT.

This was against a target of 102 million tonnes per annum (MTPA) capacity augmentation.

“In respect of development of port infrastructure, 49 projects have been awarded with a capacity of 103.52 MTPA against a target of 102 MTPA with an investment of Rs 8,341.12 crore during the last fiscal,” Shipping, Road Transport and Highways Minister Nitin Gadkari told PTI. Read the rest of this entry »

Organised retail offers $80 bn opportunity

Source: Business Standard, Feb 27, 2017

New Delhi: India’s rapidly growing organised retail sector offers a potential opportunity of up to $80 billion for both domestic and international retailers, says CBRE.

The real estate consultancy, which launched its advisory services for organised retail in India today, said the segment is likely to account for 18-20 per cent of the total retail sector by 2020. Read the rest of this entry »

Govt mulls allowing 100% FDI in single brand retail

Source: Business Standard, Jan 17, 2017

New Delhi: The government is considering allowing 100 per cent Foreign Direct Investment (FDI) through automatic route in single brand retail to attract a larger number of global players in the sector.

According to sources, there is a proposal to allow 100 per cent FDI in single brand retail sector “through automatic route” with certain conditions. Read the rest of this entry »

Largest sea bridge in India, Rs 17,750 cr Mumbai Trans Harbour Link project now at final bidding stage

Source: Financial Express, Jan 10, 2017

Thirty-one companies, including engineering major Larsen & Toubro (L&T) and China Railway Construction Bridge Engineering Bureau Group, have qualified for the final stage of bidding — or the request for proposal (RFP) stage — for the R17,750-crore Mumbai Trans Harbour Link (MTHL) project. At 22 km, MTHL, to be built over the Thane creek, will be the country’s longest sea bridge. Of the 22 km stretch, 16.5 km will be over the sea.

A senior Mumbai Metropolitan Region Development Authority (MMRDA) official told FE the land for the project has already been handed over to it on the south side of the project by the Mumbai Port Trust. However, at Chirle village at Navi Mumbai, where approximately 138 hectares are required, there have been some encroachments. “These are in the final stages of getting cleared and we believe we should be getting the land soon,” the official said. Read the rest of this entry »

‘Expertise hunting’ on in Rajasthan for farm sector

Source: The Hindu Business Line, Nov 09, 2016

Jaipur: Rajasthan is reaching out to countries across the globe such as Israel, Australia, New Zealand and Serbia, to gain from expertise in all facets of agriculture — from seed technology to post-production.

“A farm product which perishes in two days in India stays fresh for up to ten days in Israel. We need to adopt such technologies to increase the shelf life of our food items so that they can be sent to far-off markets,” Rajasthan Chief Minister Vasundhara Raje said speaking at the inauguration of the three-day Global Rajasthan Agriculture Meet (GRAM) meet in Jaipur on Wednesday.

At the global meet, an expert from Serbia will share expertise on seed technology, while another from the Netherlands will talk about climate change issues and solutions in agriculture.An olive expert from Israel will speak on technologies related to olive cultivation and an Australian expert will give a presentation on dairy and animal husbandry. The event is jointly organised by the Rajasthan government together with industry body FICCI.

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PM for making India global arbitration hub

index.jpgSource: Business Standard, Oct 24, 2016

New Delhi:  Prime minister Narendra Modi on Sunday batted for making India a global hub for arbitration, highlighting the need to develop cost-effective and time-bound processes in this regard.

Addressing a conference on the National Initiative Towards Strengthening Arbitration and Enforcement in India, organised by Niti Aayog, Modi said efforts to make India a preferred destination for global arbitration faced challenges in the form of availability of excellent global arbitrators, professional conduct, enforcing neutrality, timely completion of proceedings, and cost effective arbitration process.

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India jumps 16 spots on Competitiveness Index

Source: Business Standard, Sept 28, 2016

India jumped 16 places for the second year in a row to the 39th rank on the World Economic Forum’s (WEF) Global Competitiveness Index 2016-17. It was ranked 55th in 2015-16. This is the largest gain made by any country on the list.

Switzerland was ranked the most competitive country for the eighth consecutive year, followed by Singapore, the United States, the Netherlands and Germany.

The rankings measure countries’ performance on three indicators — basic requirements, efficiency enhancers, and innovation and sophistication factor. Performance on these in turn is measured through sub-indicators.

“Thanks to improved monetary and fiscal policies, as well as lower oil prices, the Indian economy has stabilised and now boasts the highest growth among G20 countries. Recent reform efforts have concentrated on improving public institutions (up 16), opening the economy to foreign investors and international trade (up four), and increasing transparency in the financial system (up 15),” said the report.

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