French firms aim at more in India

Source: Business Standard, Sept 28, 2017

Bengaluru: French companies would create more jobs in India in sectors such as manufacturing, information technology (IT), the industrial internet of things (IoT) and smart city projects, says France’s largest employer federation, Mouvement des Entreprises de France (MEDEF).

The body says it had discussion with both Indian and French companies, representatives from the Union government and business chambers Ficci and CII, to evaluate prospective sectors for growth. An MEDEF delegation had meetings in Delhi, Mumbai and Bengaluru.

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TN to invest INR1,000 crore in food-processing industry

Source: The Hindu Business Line, Sept 07, 2017

Chennai: Tamil Nadu will invest around ₹1,000 crore in food-processing projects in the next one year.

As part of this initiative, supply-chain management units will be set up in Erode, Krishnagiri, Dharmapuri, Nilgiris, Coimbatore, Dindigul, Theni, Tuticorin and Ramanathapuram at an investment of INR 398 crore.

The project is funded by Nabard and the State government.Speaking at the 12th edition of Food Pro 2017, organised by the Confederation of Indian Industry, O Panneerselvam, Deputy Chief Minister, said the State is a front runner in agriculture production.

Creates more jobs

Only 4.6 per cent of the produce is processed and 35 per cent of vegetables and fruits goes waste due to the lack of adequate cold-storage facilities.Panneerselvam said the push to food-processing is the need of the hour, as it can ensure better return to farmers and create more jobs in rural areas. He said the State will put in place regulations to ensure quality and food safety to become a global food market. Keeping in line with this objective, a research and development centre and public-private partnership will be explored to bring in innovative products with longer shelf life, he added.

Schindler to invest Rs 170 cr to expand manufacturing facilities in India

index.jpgSource: Business Standard, Aug 08, 2017

New Delhi: Leading providers of escalators and elevators Schindler India is all set to invest Rs. 170 crores to expand its manufacturing facilities by setting up India’s first Escalator manufacturing line and towards improving its research and development facilities at its plant near Chakan in Pune.

These investments will give Schindler India a unique edge and propel them to further strengthen the market leadership position in the elevators and escalators industry in India.

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IGST to be levied only when goods are brought for customs clearance

index.jpgSource: LiveMint.com, Aug 04, 2017

New Delhi: India on Thursday sought Japan’s assistance in a slew of areas—tourism, skill development, food processing, infrastructure development as well as making buildings resistant to earthquake damage—in a bid to fast-track development in its north-east region.

Addressing the first Japan-India Coordination Forum for Development of the NorthEastern Region, Naveen Verma, secretary in the ministry for development of the north-eastern region, said India plans to spend Rs45,000 crore for the development in the region bordering China, Bhutan, Bangladesh and Myanmar.

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Sikkim govt to enter organic food JV with IFFCO with Rs 200 cr investment

Source: Business Standard, July 25, 2017

New Delhi: Fertiliser major IFFCO today said it has signed an agreement with Sikkim government to explore business opportunities in organic food market with an initial investment of Rs 200 crore.

The foray into the organic food market and food processing is a part of the co-operative IFFCO’s strategy to diversify its business.Apart from fertiliser, IFFCO is into general insurance, agro-chemicals, rural telecom, rural retail and farm forestry.Indian Farmers Fertiliser Cooperative (IFFCO) announced signing of memorandum of understanding (MoU) with the Sikkim government.

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Chinese smartphone brand Comio to invest Rs500 crore in India

download (4).jpgSource: LiveMint.com, July 26, 2017

New Delhi: Chinese original device maker (ODM) Topwise Communication will bring its ‘Comio’ brand of smartphones to India and plans to invest Rs500 crore over the next two years to build its presence in the country.

The company, which will compete with the likes of Samsung, Xioami and Micromax in India, aims to capture 5% market share in three years of operations in India.

“We have been an ODM to many players, including those in India. There is a huge opportunity in India and we are keen on tapping that,” Comio CEO Sanjay Kumar Kalirona told reporters.

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Walmart’s investment of Rs 900-cr in Maha set to generate 30,000 jobs

download (3).jpgSource: Business Standard, July 12, 2017

Mumbai: American retail chain Walmart will invest Rs 900 crore to open 15 outlets catering to wholesalers in Maharashtra, the state government said today.

Walmart will open 15 additional modern wholesale cash and carry stores in the coming years by investing Rs 900 crore,” an official statement from the Chief Minister’s Office said here.

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