New norms soon for private investments in govt’s affordable housing scheme

Source: The Hindu Business Line, June 13, 2017

New Delhi: The government will soon come out with supplementary guidelines for the Prime Minister Awaas Yojana (Urban) to enable private investment in affordable housing.

Addressing reporters on Tuesday, M Venkaiah Naidu, Minister of Urban Development and Housing and Urban Poverty Alleviation, said: “We will soon issue guidelines to enable private investments in affordable housing even on private lands under Affordable Housing in Partnership component of PMAY (Urban). We believe to achieve our targets for Housing for All, we will need to partner with the private sector.”

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Canadian pension funds may pump $3 billion into Maharashtra

Source: The Economic Times, Jan 10, 2017

MUMBAI: Canadian pension funds, armed with $3 billion, may soon invest in the development of Maharashtra. The Canadian government is in talks with officials in Maharashtra to deploy its pension funds for creating a water grid, financing the housingfor-all schemes, helping the upcoming International Finance Centre at BKC, setting up smart cities, and even in boosting the IT sector.

Amarjeet Sohi, Canadian minister for infrastructure and communities, who will visit Maharashtra this week, is supposed to meet Chief Minister Devendra Fadnavis on Thursday to tie the loose ends, said top state government officials. After Sohi’s visit, Fadnavis will be leaving for Canada sometime in February to close the deal. Read the rest of this entry »

French auto parts maker Valeo to invest $100 million in India

Source: The Economic Times, Oct. 11, 2016

PARIS: French auto parts maker Valeo is betting on India’s engineering prowess, growing middle class and changing regulations.

The $16.2 billion company is looking at investing about $100 million (Rs665 crore) in India in the next two to three years and hire more than 1,000 engineers to support its local and global operations. Read the rest of this entry »

FM Logistic plans to invest 50 million euros in India

Source: The Economic Times, Oct.04, 2016

MUMBAI: France’s FM Logistic plans to invest EUR 50 million in India over the next four years, abecoming the latest global company to invest in the country’s logistics space, encouraged by the implementation of GST.

“We aim to contribute to a better efficiency of the logistics in India, especially in a post-GST scenario,” Stephane Descarpentries, Director-Strategic Projects and Director, operations Asia, FM Logistic.

“India is the biggest democracy worldwide, sporting an impressive growth rate – the GST adoption will be a turning point in the logistics market,” he added. Read the rest of this entry »

Major ports’ subsidiaries to invest in inland waterways

Source: Business Standard, Aug 23, 2016

Mumbai: To boost inland waterways, Union Minister for Shipping and Ports Nitin Gadkari on Monday said all major ports have been asked to set up subsidiaries, which will leverage dollar-denominated billing to raise low-cost funds.

“My ministry’s total budget is Rs 1,800 crore. It is not possible to undertake the inland waterways projects in that,” Gadkari told reporters on the sidelines of the annual Indo-American Chamber of Commerce meeting here. The new initiative would start with the largest container port in the country, Jawaharlal Nehru Port (JNPT). He added: “Inland waterways do not have financial credential now. We want to use JNPT’s financial credential for raising foreign loans”

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Maharashtra seeks Chinese investment for state’s growth

Source: The Economic Times, Aug 19, 2016

MUMBAI: Maharashtra today exhorted Chinese companies to invest in sectors, including infrastructure, to help accelerate economic growth of the state and the country as well.

“On behalf of Maharashtra Government, I invite Chinese companies to invest and intensify co-operation. They should look at Maharashtra state as a destination which will increase our bi-lateral trade between India-China as recommended by Prime Minister Narendra Modi,” Maharashtra Industry Minister Subhash Desai said.

The Minister further said that the Indian manufacturers should follow the Chinese methods of manufacturing products and services of international qualities at an affordable price.
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After 11-year low, industrial investment proposals rise to Rs 1,76,738 cr

Source: Financial Express, Aug 09, 2016

New Delhi: After hitting an 11-year low in 2015, investment proposals for the industrial sector rose a tad ain the first half of this calendar year from a year ago, reports Banikinkar Pattanayak in New Delhi. The department of industrial policy and promotion (DIPP) has received Rs 1,76,738 crore of such proposals in the January-June period, versus those amounting to Rs 1,73,632 crore a year earlier.

The fact that the electrical equipment segment alone made up for slightly more than 43% of total investment intentions submitted by companies up to June signals growing interest in capital goods. However, it’s still early to suggest a sustained revival in fixed corporate investment in the coming months, with companies still struggling with huge idle capacities. Read the rest of this entry »