It’s destination Bhiwandi Hub for warehouse developers

Source: LiveMint.com, Dec 14, 2018

Mumbai: Forty kilometres from Mumbai lies Bhiwandi in Thane district, a warehousing hub dispatching hundreds of thousands of retail and industrial goods to consumers in the financial capital every day. The town, once known for its power looms, has emerged as a warehousing hotspot for e-commerce majors such as Amazon, Flipkart, Myntra and Pepperfry, attracting blue-chip investors and developers keen for a slice of its booming economy.

According to property consultant JLL India, Bhiwandi has around 25.7 million sq. ft of warehousing space, of which only 3.2 million sq. ft are of Grade A quality. At this pace of growth, the town is closing in on Gurugram, which houses 25.98 million sq. ft of Grade A and B warehousing space.

Among firms actively looking to invest in the region are global commercial developers, including e-Shang Redwood (ESR), IndoSpace and Ascendas-Singbridge, and Bengaluru-based Embassy Group. Warburg Pincus-backed logistics developer ESR is all set to sign two large land deals in Bhiwandi, ESR India’s co-CEO Abhijit Malkani said. The company plans to build industrial parks focused on warehousing for retailers and e-commerce firms. If signed, ESR will become the first global institutional developer to enter the region. Read the rest of this entry »

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Govt bars 156 NGOs from receiving foreign funds for defying order

Source: Business Standard, Dec 11, 2018

New Delhi: Cracking the whip, the government has barred 156 NGOs from receiving foreign funds for six months for defying an order to open accounts in any of the 32 designated banks.

The Home Ministry said about a year ago, it had directed all non-governmental organisations (NGOs), business entities and individuals who receive funds from abroad to open accounts in any of the 32 designated banks for higher level of transparency.

However, the latest order said that it has been observed that the associations have not yet opened their bank accounts in central government’s Public Financial Management System (PFMS)-integrated banks and contravened the provisions of the Foreign Contribution (Regulation) Act 2010 by not complying with the December 2017 direction.

“Now, therefore, in exercise of the power conferred by section 13 of the FCRA, 2010, pending consideration of cancellation of their certificates, the central government hereby, suspends the registration under FCRA 2010 of the said associations (including their branches and units) for a period of one hundred and eighty days..,” the latest directive said. Read the rest of this entry »

Manufacturing PMI jumps to 11-month high of 54 in November on strong demand

Source: Business Standard, Dec 03, 2018

New Delhi: Growth in manufacturing activity hit an 11-month high in November as new orders and output rose at a slower pace, according to purchasing managers’ index (PMI).

The PMI in November continued its northward climb for the third month, going up to 54 from 53.1 in October. A reading above 50 shows expa­nsion in the sector. Overall, manufacturing conditions improved for the 16th consecutive month in November.

The boost in output came from a surge in new orders, that rose at the second-fastest rate in over two years, slower only than that seen in December 2017, the PMI report said. Companies suggested that marketing efforts bore fruit, while stronger demand too boosted sales.

Intermediate goods makers also fronted the upturn. Growth of new export work quickened to the fastest in just under four years, as producers reportedly received bulk orders from clients in key export destinations. Read the rest of this entry »

How Telangana has made itself an attractive destination for companies

Source: The Economic Times, Dec 02, 2018

Telangana, despite being India’s youngest state, had an inherent advantage in business. When it was carved out of the erstwhile Andhra Pradesh in June 2014, after a long and bloody struggle, it got Hyderabad as its capital — and with it the benefit of its business friendly legacy.

Hyderabad had over the past couple of decades become a hub for information technology, pharma and biotech companies. This image was to a large extent created when N Chandrababu Naidu was the chief minister of the unified Andhra Pradesh, from 1995 to 2004. Today, the new Andhra is building a capital city from scratch in Amaravati. Though Hyderabad was to be joint capital of both states for 10 years, the Andhra government has chosen to move its operations to cities near Amaravati. Read the rest of this entry »

Govt to revise rate regime for old terminals at major ports

Source: The Hindu Business Line, Nov 29, 2018

Mumbai: The Shipping Ministry has flagged off the process of revising a contentious rate regime that governs India’s first batch of 16 public-private-partnership (PPP) cargo terminals at Centre-owned major ports.

The revision has become necessary after the Ministry decided to drop an earlier plan to allow these terminals to migrate to a more favourable and market-friendly pricing structure announced for new terminals in 2013. Read the rest of this entry »

UP to launch industrial, infra projects worth Rs 500 billion next month

Source: Business Standard, Nov 29, 2018

Lucknow: Uttar Pradesh government will launch industrial and infrastructure projects totalling Rs 500 billion across different sectors next month.

These projects are part of the Rs 4.68 trillion worth of memorandum of understanding (MoU) signed with public and private sector companies during the ‘UP Investors Summit’ here on 21-22 February, 2018.

On July 29, Prime Minister Narendra Modi had laid foundation of projects worth Rs 600 billion. Inaugurating the Summit, Modi had also exhorted UP and Maharashtra to compete for emerging as the country’s first trillion dollar economies.

Chief minister Yogi Adityanath, who has been busy in campaigning in poll bound states of Madhya Pradesh and Chhattisgarh over the past few week, on Tuesday night reviewed the progress of the projects lined up for the second ground breaking ceremony slated for the second week of December in Lucknow. Read the rest of this entry »

India seeks to ease biggest hurdle for factories with new policy

Source: The Economic Times, Nov 30, 2018

Prime Minister Narendra Modi plans to unveil a long-awaited industrial policy soon to boost domestic manufacturing and accelerate economic growth before federal polls next year.

Under the new plan, a company need not purchase land or equipment but could lease them on long-contract basis helping lower costs and cut down time on setting up operations, secretary to the Department of Industrial Policy and Promotion Ramesh Abhishek said in an interview. Units located in industrial clusters may be able to share infrastructure. Read the rest of this entry »