| POLICY WATCH |
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RBI allows take-out financing via ECBs for infra projects
| The Reserve Bank of India (RBI) has decided to permit take-out financing arrangement through external commercial borrowings (ECBs) under the approval route for infrastructure projects. |
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E-filing with digital signature mandatory for companies
| It has been made mandatory for companies to file their income tax returns electronically in Form No ITR-6, with digital signatures. |
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New Internet protocol by December 2011
| The Government has set a deadline of December 2011 for major telecom operators to adopt the next generation protocol for Internet services in the country called Internet Protocol version 6 (IPv6). |
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| PEOPLE |
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'Desh' Deshpande to co-chair Obama's Advisory Council
| Gururaj Deshpande has been appointed co-chairman of US President Barack Obama's National Advisory Council on Innovation and Entrepreneurship. |
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Mukesh Ambani to be part of MDG Advocacy Group: UN
| United Nations (UN) has named Mukesh Ambani to be a part of the Millennium Development Goal (MDG) Advocacy Group. He is the only Indian to be part of the Advocacy Group. |
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Indian-origin Professor at Oxford honoured by UK Academy
| Indian-origin Professor of Linguistics at the University of Oxford, Prof Aditi Lahiri has been elected as Fellow of the British Academy, the national academy for the Humanities and Social Sciences. |
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| ECONOMY AND ENTERPRISE |
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Exports in June 2010 touches US$ 17.75 billion
| The exports touched US$ 17.75 billion in June 2010, posting a 30.4 per cent growth as compared to the corresponding period in 2009. |
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Indian telecom user base up 17.98 mn in June
| Telecom operators have added 17.98 million new users in June 2010, taking the total telephone subscriber base in the country to 671.69 million. |
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Q1 numbers show revenues, profits growing faster
| Net profits (adjusted) posted by over 300 companies registered a 19 per cent growth in April to June 2010 quarter against the 17 per cent growth in June 2009 quarter. |
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French investments in India to touch Rs 60,000 cr by 2012
| Investments by French companies in India are expected to touch around Rs 60,000 crore (US$ 12.74 billion) by 2012, with a focus on automobile, energy and environment sectors among others. |
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Govt to spend Rs 20,000 cr more on e-gov projects
| The Centre, which has already spent about Rs 10,000 crore (US$ 2.13 billion) in technology, plans to invest an additional Rs 20,000 crore (US$ 4.25 billion) in various projects under the National e-Governance Plan (NeGP) in the next few years. |
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ISB forms 'Ivy League' with 3 Asian B-schools
| The Indian School of Business (ISB), Hyderabad, has tied-up with three top Asian B-schools to devise a strategy to attract more students from the US, Canada and Europe. |
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BHEL, GE unit sign pact for oil, gas compressors
| Bharat Heavy Electricals Ltd (BHEL) and a unit of General Electric Co (GE) have signed a ten year licensing pact to manufacture oil and gas compressors. GE's range of centrifugal compressors will be manufactured under license at BHEL's production site in Hyderabad, for sale in India and South Asia. |
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NTPC to pursue coal mine acquisition in Australia, Indonesia
| National Thermal Power Corporation (NTPC) plans to acquire coal mines or form joint ventures (JVs) in Australia, Indonesia, Mozambique and South Africa. |
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Adani Power sets up subsidiary for 3,300 MW Bhadreshwar plant
| Adani Power Ltd (APL) has set up a subsidiary; Kutchh Power Generation Ltd to oversee execution of the proposed 3,300 mega watt (MW) imported coal-fired thermal power plant, power generation, evacuation and transmission of electricity at Bhadreshwar, near Mundra in Gujarat. |
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SPECIAL - Construction Equipment |
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Puzzolana Group has signed a memorandum of understanding (MoU) with Italy's Guidetti Recycling Systems to incorporate a joint venture (JV) company - Puzzolana Guidetti. The JV will manufacture earth moving equipment including pavers, compactors and graders from a plant on the outskirts of Hyderabad.
Significantly, Volvo Construction Equipment in India (Volvo CE) is setting up a new production facility in Bengaluru to manufacture hydraulic excavators and excavator-mounted pipe layer machine by the end of 2011.
Furthermore, Kobelco Cranes of Japan plans to set up a plant near Chennai to produce crawler cranes at an estimated investment of Rs 60 crore (US$ 12.7 million) and is expected to begin the production by October 2011. |
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"There is huge potential for growth in India, explosive growth."
Marc Benioff
Chairman and CEO
Salesforce.com inc |
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| Rashtrapati Bhavan has become the first urban habitat in India to get ISO 14001:2004 certification, which implies that all standards set by the organisation for environmental management systems have been met by the estate. |
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Power Finance Corp, REC to fund solar projects
| Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) will finance some of the solar power projects in the country, said Mr Sushilkumar Shinde, Union Power Minister. India plans to generate 1,000 mega watt (MW)of solar power by 2013. |
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Bio-diesel park at Bijapur
| Mr Murugesh Nirani, Minister for Large and Medium Scale Industries has inaugurated a bio-diesel park, which has been set up by the Karnataka State Bio-Diesel Task Force and forest department. |
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MIC Electronics, Taiwan firm tie up
| MIC Electronics Ltd has entered into an agreement with Taiwan-based, Home Resource Inc to jointly develop and manufacture, innovative and cost effective light emitting diode (LED) lighting products. |
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