| POLICY WATCH |
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Nod
for village electrification programme
| The Cabinet Committee on Infrastructure (CCI)
has given its nod for the continuation of the Remote Village Electrification
Programme of the Ministry of New and Renewable Energy during the remaining
period of the Eleventh Plan. |
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State
approves projects worth Rs 16,312 cr
| The State Level Single Window Clearance Authority
(SLSWCA) has approved seven projects worth Rs 16,312 crore (US$ 3.33 billion) in
sectors such as aluminium, energy and metal in a meeting in Orissa on August 26,
2009. |
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Diamond
bourses for trading hub
| The government will establish diamond bourses to
enable the country to become an international trading hub. The initiative is a
part of the foreign trade policy (FTP) announced by Union Minister of Commerce
and Industry, Mr Anand Sharma, on August 27, 2009. |
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| PEOPLE |
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G Madhavan Nair becomes first non-American president to head
IAA
| G Madhavan Nair, chairperson, Indian Space Research
Organisation (ISRO), has been elected as the next president of the International
Academy of Astronautics (IAA), and will be the first non-American to head the
organisation fifty years after it was set up. |
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SE
Asia's top bank, DBS group gets Indian as CEO
| DBS Group, South-East Asia's largest bank, has
appointed Piyush Gupta as its new chief executive officer. This is the first
time that a South-East Asian bank has appointed an Indian to head its
operations. |
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Indian
educationist to be honoured by CEE
| Dr Y G Parthasarthy, a noted Indian educationist, has been selected for
the Achievement Medal for Leadership and Commitment to Excellence in Education
by the Virginia-based Centre for Excellence in Education (CEE). |
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| ECONOMY AND
ENTERPRISE |
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Domestic
consumption holds the key to India's turnaround
| Among the major economies in the Asia-Pacific
region, India's private domestic consumption as share of gross domestic product
(GDP) was the highest at 57 per cent in 2008, according to an analysis by the
McKinsey Global Institute (MGI). |
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India,
China growth driving global economic revival
| Moody's, a leading credit agency, has said that renewed growth in India
and China is driving the world economy's revival from the one of the worst
economic downturns in decades. |
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Government
working to raise income generation: FM
| Addressing a gathering of CEOs at 'Mission 2010: The
Reform Roadmap', an event organised by ET Now on August 25, 2009, Union Finance
Minister, Mr Pranab Mukherjee, said that the government is working to raise
income generation and attract investment to India. |
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Chawla
predicts economic growth of over 6.5% this fiscal
| Referring to the 6.1 per cent growth logged by
the economy in April-June 2009 as compared to 5.8 per cent in the previous
quarter, Mr Ashok Chawla, Finance Secretary, further predicted a growth of above
6.5 per cent in the fiscal year ending March 2010, owing to strength in
manufacturing and services. |
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Industrial
output grows 7 per cent in July 2009
| Union Minister of Commerce and Industry, Mr Anand Sharma, while
announcing the new foreign trade policy (FTP) on August 27, 2009, said that
industrial output, as measured by the Index of Industrial Production (IIP), grew
7 per cent in July 2009, the same as in July 2008. |
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August
auto sales zoom on launches
| Major automobile manufacturers such as Maruti
Suzuki, Hyundai and Mahindra & Mahindra have witnessed a high double-digit
jump in sales in August 2009. Two-wheeler manufacturers, led by Hero Honda
Motors, also continued to grow in double-digits in the said period. |
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India
to set up trade centres in LatAm
| The Ministry of Commerce and Industry has proposed
to open four to five trade centres in Latin American countries on a permanent
basis to create awareness among investors about Indian products and
capabilities, apart from promoting bilateral relations. |
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[More]
Wipro
Consumer Care eyes Africa for growth
| Wipro Consumer Care and Lighting (WCCL), which
forayed into the international personal care market by acquiring
Singapore-headquartered Unza Holdings, is planning to target east and west
African countries to increase Unza's base this fiscal. |
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[More]
Bhushan
Steel buys Aussie exploration firm
| Bhushan Steel (Australia), part of the Delhi-based
Bhushan Steel group, has acquired 60 per cent stake in Australian exploration
company, Bowen Energy. |
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[More]
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| The Indian healthcare industry is expected to provide huge investment
opportunities with the medical tourism and services segments witnessing growth
in the recent past. Significantly, companies such as Fortis Healthcare, Apollo Hospitals Group and Metropolis Health Services are in an expansion mode to capture
a pie of this growing sector. |
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"Given the rapid development of India's economy and infrastructure, this is
exactly the right time to bring the world's greatest motorcycle to one of the
world's largest motorcycling nations."
Matthew
Levatich
President and COO
Harley-Davidson Motor Company |
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| Gujarat-based Gadhia Solar Energy Systems Pvt Ltd has
developed the world's first and largest solar air conditioning (AC) system. The
100 tonne solar AC has been installed at the Muni Ashram in the Goraj area of
Vadodara district. |
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[More]
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India
to spend over Rs 1 lakh crore on renewable power by 2012
| India is expected to spend over Rs 1 lakh crore (US$
20.48 billion) on the setting up of power plants based on renewable energy
sources by the end of 2011-12, according to Devasis Majumdar, chairman and
managing director of Indian Renewable Energy Development Agency (IREDA). |
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[More]
India's
greenhouse gas emission to be low till 2031: Report
| India's per capita emission of Greenhouse Gases
(GHG) will continue to be low until 2030-31, and it is estimated that the per
capita emission in 2031 will be lower than per capita global emission of GHG in
2005, according to a study released by Mr Montek Singh Ahluwalia, Deputy
Chairman, Planning Commission. |
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[More]
Solkar,
Exnora to provide million solar lamps for the poor
| Solkar Solar Industry Ltd and Exnora
International will jointly launch a programme to enable donation of one million
solar powered lamps in the country. In addition, the project has the potential
to drive growth of energy entrepreneurs in rural areas. |
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