India Now Newsletter
India Brand Equity Foundation CCXCII March 04, 2013
In This Issue
- Policy Watch
- Economy & Enterprise
- Conversations on Brand India
- People of the Week
- Sustainable Development
- Special: Infrastructure
- Fact for the day
- Quote for the day
According to the Ipsos economic pulse of the world survey, India's economic confidence shot up by eight points to 68 per cent in the month of January 2013 compared to the month of December 2012, making it the second most economically confident country in the world after Saudi Arabia.

A dynamic young population and availability of skilled talent pool has made the services sector quite attractive in India. A comparison of the services performance of the top 15 countries for the 11 year period from 2001 to 2011 shows that the increase in share of services in GDP is the highest for India with 8.1 percentage points. The 15 top countries include major developed countries along with Brazil, Russia, India and China.

Aparna Dutt Sharma
Aparna Dutt Sharma
CEO
India Brand Equity Foundation

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FACT FOR THE DAY
India's first fabrication facility may be announced soon by the Central Government. The Department of Electronics and Information ITechnology (Deity) is currently evaluating five large fab projects and each of these projects are in the US$ 2-3 billion investment range.

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QUOTE FOR THE DAY
"The domestic market for India is starting an opportunity. In the next 3-5 years there will be more direct domestic investments in Indian start-ups"
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Dave McClure
Founding Partner, 500Startups
Innovation from India
POLICY WATCH
Budget 2013: Home loans under Rs 25 lakh to get additional 1 lakh deduction
Finance Minister Mr P Chidambaram has proposed that any person taking a loan of up to Rs 25 lakh (US$ 45,850) for a first home will be allowed an additional tax deduction on interest of up to Rs 1 lakh (US$ 1,835). The move is aimed at promoting home ownership and giving a boost to a number of industries like steel, cement, brick, wood and glass, which are directly linked to the real estate sector, besides providing jobs to thousands of construction workers.
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Government to introduce investment allowance of 15 per cent for high value investments
New Delhi: With the objective of attracting new investment and quickening the implementation of projects, the Government has proposed to introduce an investment allowance for new high value investments A company investing Rs 100 crore (US$ 18.34 million) or more in plant and machinery during the period April 1, 2013 to March 31, 2015 will be entitled to deduct an investment allowance of 15 percent of the investment.
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ECONOMY & ENTERPRISE
Budget 2013-14 pro-growth, says US India Business Council
New Delhi Applauding Union Finance Minister Mr P Chidambaram for presenting a pro-growth budget, the US India Business Council said the Government has taken significant measures to revitalise investor enthusiasm, ignite growth, and contain its spending. The Council said that India's 2013-14 budget is fundamentally sound, and the plan to accelerate public sector divestment will stimulate greater efficiencies and productivity.
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Rail Budget lays thrust on safety, consolidation, improving passenger amenities and fiscal discipline
New Delhi: The Railway Budget 2013-14 presented by the Railway Minister Mr Pawan Kumar Bansal in the Parliament lays thrust on safety, consolidation, improving passenger amenities and fiscal discipline. The budget has proposed working expenses of Rs 96,500 crore (US$ 17.71 billion) against the Gross Traffic Receipts of Rs 1,43,742 crore (US$ 26.35 billion) for the year.
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India has highest increase in share of services in GDP at 8.1%
New Delhi: A comparison of the services performance of the top 15 countries for the 11 year period from 2001 to 2011 shows that the increase in share of services in GDP is the highest for India with 8.1 percentage points. The 15 top countries include major developed countries along with Brazil, Russia, India and China.
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India second most economically confident country: Ipsos study
Mumbai: India's economic confidence shot up by 8 points to 68 per cent in the month of January 2013 compared to the month of December 2012, making it the second most economically confident country in the world after Saudi Arabia, according to the Ipsos economic pulse of the world survey.
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Bengaluru firm on MIT's 2013 list of 50 innovative companies
Mumbai: Bengaluru-based mobile advertising platform and solutions provider InMobi has become the only Indian company to have secured a place in MIT Technology Review's list of '50 Disruptive Companies' for 2013. The list identifies global companies that are pushing the envelope of current business models to drive innovation and create significant impact in the market.
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Indorama arm signs $800-million finance pact to fund Nigeria project
New Delhi: Indorama Eleme Fertiliser & Chemicals Ltd, part of the Indorama Group, has signed a US$ 800 million long-term financing agreement with 16 global financial institutions to fund its US$ 1.2 billion fertiliser project in Port Harcourt, Nigeria. The greenfield project will produce 1.4 million tonnes of granulated urea a year using natural gas as feedstock from early 2016.
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TCS sets up new facility in Liverpool
Mumbai: Tata Consultancy Services (TCS) has set up a new delivery centre in Liverpool, expanding its operations in the UK. The new facility, which is dedicated to delivering government services, will be fully operational in July 2013 and will house seat over 300 employees.
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ONGC sets world record in deep-water drilling, beats RIL
Mumbai: State-owned Oil and Natural Gas Commission (ONGC) has set a world record by drilling at water depth of 3,165 meters (10,385 feet), beating the record of 10,194 feet held by Reliance Industries (RIL), its private sector competitor.
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CONVERSATIONS ON BRAND INDIA
"India is preparing for the next economic leap and it is just a matter of time that once again the country appears centre stage in the global economic context."

Aparna Dutt Sharma
Chief Executive Officer
India Brand Equity Foundation
Perspectives on Indian Economy

Perspectives on Indian Economy
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PEOPLE OF THE WEEK
Indian-origin scientist writer wins Inaugural Physics Journalism Prize
New Delhi: London-based Indian origin writer Anil Ananthaswamy has won the inaugural Physics Journalism Prize sponsored by the Institute of Physics (IOP) and the Science and Technology Facilities Council (STFC). The prize is aimed at inspiring the next generation of physicists by encouraging journalists to think through complex topics and help spread excitement about the subject.
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NRI education pioneer, Dr Sugata Mitra, wins US$ 1 million TED Prize
California: Dr Sugata Mitra, for his revolutionary work in the education area, has been awarded a US$ 1 million prize by TED, the multidisciplinary conference of brainiacs. A "hole in the wall" experiment by Dr Mitra, which involved installing a computer in a slum in Delhi, led to the attainment of worldwide recognition and the evolution of "Minimally Invasive Education."
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SUSTAINABLE DEVELOPMENT
10,431 mw of renewable energy capacity added during last 3 years against a target of 9623 mw
Kolkata: A capacity addition of 10,431 megawatt (MW) against a target of 9,623 MW has been achieved from renewable energy sources during the last three years, according to Mr Farooq Abdullah, Minister for New & Renewable Energy. During 2012-13, a capacity addition of 2005.57 MW was achieved till January 1, 2013 against the target of 4,125 MW.
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5 Chennai auto-parts makers forge alliance for solar power
Chennai: Five auto component companies in Chennai are coming together to set up a solar power plant in Tamil Nadu. The Rane group, MM Forgings, Super Auto Forge, Natesan Industries, and Auto Parts have formed a consortium and are looking for land in Sivaganga and Tuticorin. The solar farm, with an installed capacity of 7 megawatt (MW), could entail a total investment of Rs 70 crore (US$ 12.94 million).
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SPECIAL: INFRASTRUCTURE
L&T Construction secures new orders worth Rs 1,504 cr
Coimbatore: Engineering company Larsen & Toubro (L&T) has said its construction arm L&T Construction has obtained new orders worth more than Rs 1,504 crore (US$ 279.92 million) both within and outside the country. The water and effluent treatment business has secured new orders worth Rs 621 crore (US$ 113.92 million).
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East Coast Energy to set up 1,320 MW plant in Srikakulam
Srikakulam: East Coast Energy Ltd is setting up a thermal power plant at Kakarapalli in Srikakulam district, Andhra Pradesh. It plans to begin generation by March, 2015. The project will have two units of 660 megawatt (MW) each. Mr Krishna V Tatineni, Managing Director, said that the company is planning to accelerate the execution shortly.
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