India Positive - 14 October, 2016
- November 30, -0001
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The Union Cabinet has approved a memorandum of understanding (MoU) between India and the Russian Federation, aimed at expanding bilateral trade and economic cooperation between the two countries.
The Union Government has urged the state governments to dispense with the demarcations of rural households in terms of above poverty line (APL) and below poverty line (BPL), and focus on providing electricity to all households, with the aim to achieve 100 per cent electrification by March 2019, as per Mr Piyush Goyal, Minister for Coal, Power, New and Renewable Energy and Mines.
The Ministry of Civil Aviation is seeking to simplify the leasing process by allowing foreign registered aircraft to fly in India, in its endeavor to make it easier for aircraft leasing companies to do business here, and thereby enhance regional connectivity in the country.
Mr Siddharth Talwar and Mr Keyur Dave, Partners, Grant Thornton India LLP, have stated that the adoption of the new Indian Accounting Standards (Ind-AS) will make financial statements of Indian companies comparable with their global peers, and thereby improve the credence of India among global investors.
Engineering exports from India increased 4.7 per cent year-on-year to US$ 4.87 billion in August 2016, and are expected to maintain positive direction going forward based on an uptick in top European markets including UK, France, Italy and the Netherlands, coupled with low base effect, according to EEPC of India.
Corporate funding of solar projects in India rose to nearly US$ 3 billion in 45 deals during July-September 2016, as against US$ 1.7 billion in 32 deals during April-June 2016, according to data from Mercom Capital.
Mr Jean-Pascal Tricoire, CEO, Schneider Electric, has stated that India will be at the core of its global manufacturing plans as the company plans to launch its next-generation solar inverters on a very large scale, which would be manufactured in Bengaluru and exported to the rest of the world.
Mr Gudjon Reynisson, Chief Executive Officer, Hamleys, has stated that India is one of the most important markets for Hamleys globally, and outlined plans of opening six more stores, taking its total store count in the country to 32 by the end of March 2017.
India can benefit from China’s experience in manufacturing, urbanisation, creation of high productive employment, which can help India become a US$ 10 trillion economy, as per Mr Arvind Panagariya, Vice Chairman, NITI Aayog.
The mergers and acquisition (M&A) deals in India during January to September 2016 have reached a value of US$ 46 billion, which is higher than the US$ 33.8 billion value of deals signed in entire year of 2015, as per a report by Mergermarket.
Mr Rahul Munjal, Chairman and Managing Director, Hero Future Energies Pvt Ltd, has estimated India’s renewable energy industry to grow to a size of Rs 2 trillion (US$ 30 billion) in the next three years, owing to rapid progress in technology and lowering of costs.
A total of 70 Indian companies are expected to raise over US$ 5.8 billion through initial public offerings (IPO) in 2016, out of which 50 companies have already raised US$ 2.93 billion so far, according to Baker & McKenzie.
Cabinet approves MoU between India and the Russian Federation on Expansion of Bilateral Trade and Economic Cooperation
The Union Cabinet has approved a memorandum of understanding (MoU) between India and the Russian Federation, aimed at expanding bilateral trade and economic cooperation between the two countries.
States to get soft loans for rural electrification
The Union Government has urged the state governments to dispense with the demarcations of rural households in terms of above poverty line (APL) and below poverty line (BPL), and focus on providing electricity to all households, with the aim to achieve 100 per cent electrification by March 2019, as per Mr Piyush Goyal, Minister for Coal, Power, New and Renewable Energy and Mines.
Foreign registered aircraft may soon fly in India: Report
The Ministry of Civil Aviation is seeking to simplify the leasing process by allowing foreign registered aircraft to fly in India, in its endeavor to make it easier for aircraft leasing companies to do business here, and thereby enhance regional connectivity in the country.
Ind-AS will increase accountability of companies, enlighten investors
Mr Siddharth Talwar and Mr Keyur Dave, Partners, Grant Thornton India LLP, have stated that the adoption of the new Indian Accounting Standards (Ind-AS) will make financial statements of Indian companies comparable with their global peers, and thereby improve the credence of India among global investors.
Indian engineering exports to move towards positive direction: Study
Engineering exports from India increased 4.7 per cent year-on-year to US$ 4.87 billion in August 2016, and are expected to maintain positive direction going forward based on an uptick in top European markets including UK, France, Italy and the Netherlands, coupled with low base effect, according to EEPC of India.
Solar projects see a surge in corporate funding in Q3
Corporate funding of solar projects in India rose to nearly US$ 3 billion in 45 deals during July-September 2016, as against US$ 1.7 billion in 32 deals during April-June 2016, according to data from Mercom Capital.
India at the core of Schneider’s global manufacturing plans
Mr Jean-Pascal Tricoire, CEO, Schneider Electric, has stated that India will be at the core of its global manufacturing plans as the company plans to launch its next-generation solar inverters on a very large scale, which would be manufactured in Bengaluru and exported to the rest of the world.
Toy shop Hamleys to increase India store count to 32 in 6 months
Mr Gudjon Reynisson, Chief Executive Officer, Hamleys, has stated that India is one of the most important markets for Hamleys globally, and outlined plans of opening six more stores, taking its total store count in the country to 32 by the end of March 2017.
India can benefit from Chinese experience; to grow to $10 trillion by 2030: Arvind Panagariya
India can benefit from China’s experience in manufacturing, urbanisation, creation of high productive employment, which can help India become a US$ 10 trillion economy, as per Mr Arvind Panagariya, Vice Chairman, NITI Aayog.
M&A deals in January-September reach US$ 46 billion in value, more than the value of deals in entire 2015 year
The mergers and acquisition (M&A) deals in India during January to September 2016 have reached a value of US$ 46 billion, which is higher than the US$ 33.8 billion value of deals signed in entire year of 2015, as per a report by Mergermarket.
In three years, renewable sector will be worth Rs2 trillion in India: Rahul Munjal
Mr Rahul Munjal, Chairman and Managing Director, Hero Future Energies Pvt Ltd, has estimated India’s renewable energy industry to grow to a size of Rs 2 trillion (US$ 30 billion) in the next three years, owing to rapid progress in technology and lowering of costs.
Year 2016 to be best for Indian firms’ IPOs: Report
A total of 70 Indian companies are expected to raise over US$ 5.8 billion through initial public offerings (IPO) in 2016, out of which 50 companies have already raised US$ 2.93 billion so far, according to Baker & McKenzie.
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