2018 welcomes branded hotels with double-digit tariff growth after 9-yr gap

Source: Business Standard, Jan 23, 2018

New Delhi: A double-digit tariff growth, the first after a nine-year gap, is welcoming branded hotels in 2018. Hotels

have been able to negotiate a tariff increase of up to 15 per cent in their contracts with corporate clients for the calendar year 2018. Corporate clients form more than half of the business for most branded hotels, especially in cities.

“Hotels have successfully negotiated better rates for the year 2018 with corporate clients. Based on the negotiation, most hotels are budgeting for an increase of 10-15 per cent in tariffs this year. The year 2017 was a story of occupancy growth and 2018 is going to be about rates. In the past few years, the rate increase had not been to our expectation and there were periods of no increase at all,” said Raj Rana, chief executive officer (South Asia) at Carlson Rezidor, which operates 89 hotels in the country under brands like Radisson and Park Plaza. Read the rest of this entry »

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Government to auction eight more mineral blocks in three states

Source: Financial Express, Jan 22, 2018

New Delhi: The government has identified eight more mineral blocks with a cumulative reserve of 1,133 million tonnes (MT) in Rajasthan, Chhattisgarh and Jharkhand to be auctioned by mid-march. So far, a total of 88 mineral blocks have been notified by 9 states for auction, of which 33 blocks have been successfully auctioned with an estimated revenue of Rs 1.28 lakh crore over the lease period to the states. Of the eight mines, six are of lime stone – five in Rajasthan and one in Chhattisgarh, one of iron ore and the remaining one is of graphite & quartz – both in Jharkhand. Five of the limestone blocks in Rajasthan – four in Nagaur district and one in Jaisalmer – will be put under hammer on February 7, while the Chhattishgarh mine in district Baloda will go for e-auction on March 12, as per the mines ministry. The remaining two iron ore and graphite & quartz blocks will be auctioned on March 14. These mines have a cumulative reserve of 1,133 million tonnes of limestone, iron ore and graphite & quartz. Of these eight blocks, only one limestone block in Chhattisgarh is reserved for clinker and cement plants, while there is no end use reservation for the remaining, the ministry said. The ministry, meanwhile is also contemplating at setting up special purpose vehicles (SPVs) that will acquire necessary project clearances, including environmental, for the mineral blocks before bidding, a move that may add pace to the auction process, an official said. Read the rest of this entry »

Govt set to make company registration process faster, user-friendly

Source: Business Standard, Jan 21, 2018

New Delhi: The government will soon bring in changes in the registration process for new companies to make it faster and more user-friendly, wherein applicants will be required to provide only “need-based” information, a senior official said.

Corporate Affairs Secretary Injeti Srinivas said that if only need-based information is taken from the applicants, then with minimal information the name of a company can be reserved.

“At that stage, it might not be necessary to give so many other details because name reservation might not lead to registration. Now, name is reserved for 20 days and earlier it was 60 days. Read the rest of this entry »

Govt simplifies Make in India rules for defence firms, offers 50 projects

download (1).jpgSource: Business Standard, Jan 18, 2018

Chennai: The Ministry of Defence has released the second part of the simplified Make-II, the Make in India policy for the defence sector, in order to attract more private industries for manufacturing arms and ammunition.

It has also initiated a first of its kind industry meet in Chennai and launched a Defence Investor Cell to facilitate industry participation. Under the simplified form, the industry can approach the defence departments on its own with products and ideas, which will then be considered by the concerned defence agency.

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A tech booster coming for domestic coffee industry

Source: The Hindu Business Line, Jan 17, 2018

Bengaluru: India’s coffee sector is seen getting a technology boost with the State-run Coffee Board proposing to introduce a host of initiatives ranging from blockchain to drones soon.

Coffee Board Secretary Srivatsa Krishna said the Board has partnered with Eka Analytics to introduce blockchain technologies into the coffee sector covering growers, consumers, exporters and the trade including cafes on a pilot basis.

Rainfall, soil data

Besides, the rainfall data gathered for over 100 years and soil info are being used to deliver extension and advisory services to the growers on demand through a mobile app, Krishna said at the inaugural of the 7th edition of the India International Coffee Festival.

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Digital ad industry to grow 32% to touch Rs18,986 crore by 2020: report

Source: LiveMint.com, Jan 17, 2018

New Delhi: The digital advertising industry is estimated to grow at a compound annual growth rate (CAGR) of 32% to reach Rs18,986 crore by 2020, on the back of affordable data and increased smartphone penetration, says a report from Dentsu Aegis Network (DAN).

Digital ad spends currently stand at Rs8,202 crore, contributing 15% to the total expenditure of the advertising industry. This is expected to touch 24% by 2020, said the digital ad spend forecast report published by DAN in association with trade portal exchange4media. The Indian ad industry stands at Rs55,960 crore and is expected to touch Rs77,623 crore by 2020 growing at a CAGR of 12.5%.

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Soon, government will offer pan-India licence to firms providing contract workers

Source: The Economic Times, Jan 09, 2018

The labour ministry will soon launch a national licence for staffing firms supplying contract workers across industries, a move that seeks to make doing business easier for them. Since staffing firms typically operate from multiple locations, a national licence will help increase formalisation of the workforce.

The licence will be based on a set criteria and renewed every three years. It can be obtained on payment of fees and a bank guarantee as security for due performance of their obligations. At present, staffing firms are required to make a small deposit as security to the government. They are required to seek approvals for hiring contract workers at every location or premises and for every new person hired.

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