Low bidding slows wind, solar capacity addition

Source: The Hindu Business Line, Nov 21, 2017

Mumbai: Capacity addition in wind and solar sectors has come down significantly this year mainly due to the limited progress in bidding activity, says a report.

According to rating agency Icra, due to the limited progress on bidding by the state-owned distribution utilities to award wind energy projects, the sector is facing near-term headwinds.“Capacity addition in the wind sector in the near-term remains adversely impacted due to migration from feed-in tariff to bid-tariff route,” the report said.

“At the same time, bidding activity for awarding solar projects too has slowed down as of October as reflected in awarded project capacity,” it added.Solar project capacity of 3.75 GW has been awarded this year till October as against 7.2 GW 2016.

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Australia’s Victoria State keen to boost ties with India

Source: The Hindu Business Line, Nov 21, 2017

Melbourne: Ahead of his first official visit to India, Victorian Premier Daniel Andrews on Tuesday said the state government is formulating a strong and effective strategy to further strengthen business links with India.

The premier who is set to visit in January said the strategy plan will be a positive framework that will have real targets, milestones and metrics.

The four key themes of the strategy will encompass meaningful engagement, equal exchange, personal connections and long-term commitment, Andrews said at a business forum.It will also explore ideas to invest in structures to help the State government connect with India, focusing geographically and driving closer engagement across priority sectors.

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Railways to go ahead with global tender

download (5).jpgSource: Business Standard, Nov 22, 2017

New Delhi / Kolkata: The Indian Railways has decided to go ahead with its global tender for rails despite stiff opposition from the steel ministry, which had flagged the government’s policy of giving preference to domestic manufactured iron and steel for government procurement.

“We are going ahead with the ongoing tender according to the plan,” said a senior Railways official, who added that there were no plans to tweak the terms of the existing tender either.

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FMCG, auto products’ sales pick up pace in rural India, outsmart cities

download (4)MUMBAI/KOLKATA: Purchases of consumer products and automobiles in rural India picked up pace during July-September, outstripping the rate in cities, as a good monsoon lifted farm income. Rural sales of FMCG products by both value and volume — the number of products sold — increased 13% during the quarter from a year earlier, according to Kantar Worldpanel, the consumer insights arm of WPP, the world’s biggest advertising company. It was the fastest pace of growth in over three years.

In contrast, the urban market expanded 4% by value and 1% by volume during this period, the researcher said.

This is the second consecutive quarter of double-digit growth in the rural FMCG market, which helped to boost volumes in the overall fast-moving consumer goods sector by 7% compared with about 4% a year earlier. The rural market accounts for more than a third of all consumer goods sold. “In our case, rural growth has been very good.
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FDI in non-food retail unlikely before 2019 Lok Sabha elections

Source: LiveMint.com, Nov 20, 2017

New Delhi: Wary of the potential electoral fallout of breaching its promise not to permit foreign direct investment (FDI) in multi-brand retail, the National Democratic Alliance (NDA) government has decided not to allow foreign supermarket chains to sell non-food items during its current tenure, which ends in 2019.“Allowing foreign retailers to sell non-food items in India is unlikely to happen before the next general election,” a senior government official involved in the FDI decision-making process said on condition of anonymity.

The Union cabinet in June 2016 allowed 100% FDI in trading, including through e-commerce, of food products manufactured or produced in India.

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India receives international fund to promote sustainable fishing practices

Source: The Hindu Business Line, Nov 19, 2017

Kochi: India has special reason this time to celebrate the World Fisheries Day on November 21, as it received international fund for the promotion of sustainable fishing practices.

The London based Marine Stewardship Council (MSC), an international non-profit organization, has awarded £43,373 (Rs 37,25,740) fund for promoting sustainable practices in the country’s fisheries sector.

The MSC, which grants blue label certification to the fishery across the world and helps create more sustainable seafood market, awarded the fund to the World Wildlife Fund-India to develop management plans for bait and tuna fishery with the technical support of the Central Marine Fisheries Research Institute.

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Taaleri eyes Fortum’s solar power projects in India

download (1).jpgSource: The Hindu Business Line, Nov 19, 2017

New Delhi: Taaleri Plc has evinced interest in acquiring a stake in Finland’s state-controlled power utility Fortum Oyj’s operational Indian solar power projects, said two people aware of the development.

Fortum is present in electricity, heating and cooling businesses in Nordic and Baltic countries, Russia, Poland and India with €3.6 billion in annual sales. Fortum India’s operation has a solar power project portfolio 215 megawatts (MW).

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