Indian Economy-News & Updates

[raj76]

रे कृष्ण हरे कृष्ण,कृष्ण कृष्ण हरे हरे
हरे राम हरे राम, राम राम हरे हरे
24-09-2016

#Economy:The Centre today cut import duty on wheat and potato to 10% while reducing it by 5% on crude as well as refined palm oils so as to boost supplies and check prices during the upcoming festival season.

#Finance:In a big step forward on GST implementation, the Centre and states reached an agreement on keeping traders with annual revenue of up to Rs 20 lakh out of the new national sales tax regime that will subsume all cesses.

#The Delhi High Court told WhatsApp to scrub all data belonging to those who delete the messaging app from their devices in a decision that could strengthen calls for user privacy After September 25, WhatsApp and Facebook will share data with each other, raising privacy concerns among several users.

#The Maharashtra Navnirman Sena has threatened to beat up Pakistani artistes Ali Zafar, Fawad Khan, Mahira Khan and comedian Shakeel Siddiqui if they do not leave India by Sunday. Not to be left behind, the Shiv Sena demanded that those who engaged the artistes to be booked for "supporting a terrorist nation." Following the threat, the Mumbai Police has promised protection to the artistes in the city.

#Mera Bharat Mahaan:With the deal for 36 Rafale jets in kitty, Dassault Aviation CEO Eric Trappier today said the French company is game for the 'Make in India' initiative and open to manufacturing the fighter aircraft in India if the plane is shortlisted for a bigger order.

भारत माता की जय

हरे कृष्ण हरे कृष्ण,कृष्ण कृष्ण हरे हरे
हरे राम हरे राम, राम राम हरे हरे
25-09-2016

#Economy:The Union environment ministry’s move to cut down on thermal power emissions to meet global standards is now facing multiple uncertainties over its implementation. Private thermal power producers are struggling to meet the new deadline, as regulatory approvals for the project cost and equipment sourcing remain a challenge.

#Finance:With over 200,000 applications for the Sovereign Gold Bond (SGB), the RBI shifted the issue date by a week to September 30 for “smooth” uploading of the subscriptions in its E-Kuber system. SGB, an alternative mode of investment to physical gold, was launched in November last year.

#SEBI will seek fuller disclosure from insurance companies looking to list on stock exchanges. This will include embedded value, details on policies, value of new business, and their maturity, apart from financial information. Embedded value is the sum of the net asset value and present value of future profits of an insurance company.

#Mera bharat mahaan: The Indian Railway has fined nearly 15,000 passengers for littering railways platforms during an ongoing cleanliness drive. The fine was imposed on the passengers during the Swacchta Abhiyan Week which is being carried out by Indian Railways from September 17 to September 25.

भारत माता की जय

 

[ohmrlobalobayeh]

Chinese smartphone makers give jobs to Indians



http://economictimes.indiatimes.com...ore-devices-in-india/articleshow/51386491.cms

http://qz.com/789857/huawei-chinas-leading-phone-maker-is-starting-production-in-india-in-october/

Taking a cue from Indian prime minister Narendra Modi’s manufacturing push, Chinese smartphone maker Huawei has learned that to make it in India you have to ‘Make in India.’

Huawei is the third-largest smartphone maker in the world, but it hasn’t been able to gain a strong presence in one of the biggest markets because of stiff competition from large competitors like Samsung, as well as smaller brands like Lenovo and Xiaomi. To give its business a local boost, Huawei is opening a manufacturing plant in Chennai, where it will assemble smartphone parts for the local market starting in October, the Wall Street Journal reported.

By the end of 2017, Huawei told the Journal it expects the Chennai site to churn out 3 million phones per year. The company had applied for a license to produce in the country 19 months before the government finally greenlit its operations in July, Reuters reported. It’s also ramping up its presence in India by adding 50,000 outlets to its retail network by the end of this year.

http://rtn.asia/t-t/22768/oppo-manufacture-oneplus-3-india

Oppo, the Chinese smartphone giant, looks set to start manufacturing OnePlus 3 in India, according to an industry source.

Oppo is the former employer of OnePlus founder Pete Lau, and investment company Oppo Electronic was disclosed to be a shareholder in OnePlus.

At present, the OnePlus 3 is manufactured in Shenzen in China and at a plant in Noida in Uttar Pradesh.

Oppo too is likely to manufacture the device at its Noida factory.

The move is likely to substantially increase the availability of the much-in-demand phone.

OnePlus has managed to develop for itself an image of reliability coupled with high-end specs and affordable prices.

It has managed to cultivate a special position for itself — particularly among young male buyers — because of its focus on a single model (sometimes supplemented by a smaller version) compared to typical handset brands that have a dozen or more current models.

OnePlus has also leveraged the low-cost online retail model to keep costs low.

All this has helped the company keep its costs low in India, even as others like ViVo, Gionee and Oppo have chosen to go the traditional brick-and-mortar route, which entails higher costs and therefore higher end-customer prices.

However, one of the key pillars of OnePlus’ low-cost model — just-in-time manufacturing — has also been the biggest pain point for its customers in India.

The company’s models are almost never on stock at its online vendor sites and one has to wait for a particular day of the week to buy the OnePlus.

The manufacturing partnership with a player like Oppo is likely to solve this major pain point for OnePlus, while also lowering its costs.

Manufacturing smartphones in India tends to reduce total costs slightly as the Indian government has formulated its tax processes to encourage local manufacturing.

The OnePlus 3 — the third flagship model from the brand — is one of the most highly rated affordable high-end smartphones in the country, and has a 4.4 star rating on Amazon. Competitor Mi5, which is priced Rs 5000 cheaper, is rated 4.2 stars.


Read more at http://rtn.asia/t-t/22768/oppo-manufacture-oneplus-3-india#h6luePHbcPCfiotM.99

 

[Nilgiri]

Chinese smartphone makers give jobs to Indians



http://economictimes.indiatimes.com...ore-devices-in-india/articleshow/51386491.cms

http://qz.com/789857/huawei-chinas-leading-phone-maker-is-starting-production-in-india-in-october/

Taking a cue from Indian prime minister Narendra Modi’s manufacturing push, Chinese smartphone maker Huawei has learned that to make it in India you have to ‘Make in India.’

Huawei is the third-largest smartphone maker in the world, but it hasn’t been able to gain a strong presence in one of the biggest markets because of stiff competition from large competitors like Samsung, as well as smaller brands like Lenovo and Xiaomi. To give its business a local boost, Huawei is opening a manufacturing plant in Chennai, where it will assemble smartphone parts for the local market starting in October, the Wall Street Journal reported.

By the end of 2017, Huawei told the Journal it expects the Chennai site to churn out 3 million phones per year. The company had applied for a license to produce in the country 19 months before the government finally greenlit its operations in July, Reuters reported. It’s also ramping up its presence in India by adding 50,000 outlets to its retail network by the end of this year.

http://rtn.asia/t-t/22768/oppo-manufacture-oneplus-3-india

Oppo, the Chinese smartphone giant, looks set to start manufacturing OnePlus 3 in India, according to an industry source.

Oppo is the former employer of OnePlus founder Pete Lau, and investment company Oppo Electronic was disclosed to be a shareholder in OnePlus.

At present, the OnePlus 3 is manufactured in Shenzen in China and at a plant in Noida in Uttar Pradesh.

Oppo too is likely to manufacture the device at its Noida factory.

The move is likely to substantially increase the availability of the much-in-demand phone.

OnePlus has managed to develop for itself an image of reliability coupled with high-end specs and affordable prices.

It has managed to cultivate a special position for itself — particularly among young male buyers — because of its focus on a single model (sometimes supplemented by a smaller version) compared to typical handset brands that have a dozen or more current models.

OnePlus has also leveraged the low-cost online retail model to keep costs low.

All this has helped the company keep its costs low in India, even as others like ViVo, Gionee and Oppo have chosen to go the traditional brick-and-mortar route, which entails higher costs and therefore higher end-customer prices.

However, one of the key pillars of OnePlus’ low-cost model — just-in-time manufacturing — has also been the biggest pain point for its customers in India.

The company’s models are almost never on stock at its online vendor sites and one has to wait for a particular day of the week to buy the OnePlus.

The manufacturing partnership with a player like Oppo is likely to solve this major pain point for OnePlus, while also lowering its costs.

Manufacturing smartphones in India tends to reduce total costs slightly as the Indian government has formulated its tax processes to encourage local manufacturing.

The OnePlus 3 — the third flagship model from the brand — is one of the most highly rated affordable high-end smartphones in the country, and has a 4.4 star rating on Amazon. Competitor Mi5, which is priced Rs 5000 cheaper, is rated 4.2 stars.


Read more at http://rtn.asia/t-t/22768/oppo-manufacture-oneplus-3-india#h6luePHbcPCfiotM.99

Welcome to this thread friend. Please contribute more. Are you Singaporean?

 

[ohmrlobalobayeh]

Welcome to this thread friend. Please contribute more. Are you Singaporean?

yes i am

More jobs for Indians by Chinese investors responding to Modi's calls:

http://en.yibada.com/articles/15356...peration-opens-first-assembly-plant-india.htm

China's Top Train Maker Starts Operation, Opens First Assembly Plant in India
Manny Salvacion | Aug 22, 2016 09:59 PM EDT

• 

A visitor looks at a CRRC train model during the International Urban Rail Exhibition (UrTran 2015) held in Beijing in June last year. (Photo : Getty Images)

China has started the operation of its first joint venture plant in India with the opening of an assembly plant, China CRRC Corporation Ltd, the country's largest rail transportation equipment maker, announced Saturday, Aug. 20.

Like Us on Facebook


The Xinhua News Agency reported that it was the first time for a Chinese company to open a plant in a south Asian country.

In a press statement, CRRC said it is the first foreign company to set up the assembly of rail transport equipment in India, following the launching of Prime Minister Narendra Modi's "Made in India" campaign in 2014.

The two countries had invested a total of $63.4 million, with China holding 51 percent of the share, in the joint venture named CRRC Pioneer (India) Electric Co Ltd.

The plant, which is based in Bavo Industrial District of Haryana, located between New Delhi and Bombay, will repair and produce railway locomotive engines, as well as provide support to India's rail system. It will also produce electric transmission systems for oil drilling, mining equipment, and wind power generation in the country.

CRRC Vice President Yu Weiping said that more jobs and tax revenue will be created for local people with the opening of the new plant. It will also help improve infrastructure as well as enhance cooperation in industrial capacity and local equipment manufacturing, he added.

Since 2007, CRRC has been involved in the Indian market, supplying it with subway train, engines and other railway parts and equipment.

"Given more than 60,000 kilometers of railways in India, it is far from enough to build a single locomotive engine plant in India," Yu Weiping said.

"CRRC will build more plants able to produce trains, locomotive traction systems and other key parts in India," the CRRC official added.

CRRC has exported railway transportation equipment to more than 100 countries and regions. It started its first plant in North America in September 2015 in Massachusetts.



Read more: http://en.yibada.com/articles/15356...-first-assembly-plant-india.htm#ixzz4LFiRWoWp

 

[Ankit Kumar 002]

Bombardier delivers first MOVIA train for Delhi Metro

Bombardier Transportation has delivered the first of 162 MOVIA rail cars for operation on the Delhi Metro in India.

The order was placed by Delhi Metro Rail Corporation (DMRC), with the new trains increasing the number of DMRC’s existing fleet of MOVIA metros from 614 to 776.

DMRC rolling stock director HS Anand said: "These new cars are being procured by Delhi Metro for services on its presently operational red, blue and yellow lines. These cars will be put into service in a phased manner after the mandatory tests and trials.

“The addition of these cars will go a long way in providing safe and comfortable travel to our valued commuters."

With a capacity to accommodate 1,740 passengers in a six-car formation, the trains use advanced mobility technologies that have been adapted for Delhi’s existing infrastructure, Bombardier said.
http://www.railway-technology.com/n...ers-first-movia-train-for-delhi-metro-5013993

 

[Ryuzaki]

Progress on toilets built- 42% to 55%

 

[Ankit Kumar 002]

Committee on Greenfield Airports Clears Four Projects

The Steering Committee on Greenfield airports headed by Secretary, Civil Aviation (MoCA), Government of India met today and considered 4 new airport projects. The Committee recommended ‘in principle’ approval to 3 projects in Andhra Pradesh viz., Bhogapuram, Dagadarthi (Nellore) and Orvakallu (Kurnool). The Committee also recommended for ‘site clearance’ to the project of Kothagudem in Telengana.
The new International airport at Bhogapuram will be developed by the State Government under PPP mode at an estimated cost of Rs.2200 Crore to cater to 6.3 million passengers per annum (mppa) in the initial phase.
The other two airports in Andhra Pradesh will be developed as domestic No-Frills airports with an estimated cost of Rs.88 crores each. Dagadarthi will be developed under PPP mode whereas project at Orvakallu will be developed by State Government itself.
The Steering Committee has also recommended ‘site clearance’ for the new Greenfield airport project at Kothagudem in Telangana. With this, Telangana is getting a second Greenfield airport besides Hyderabad International airport.
These clearances are expected to enhance the aviation infrastructure facilities in newly created states of Andhra Pradesh and Telangana and will also boost the Regional Connectivity Scheme announced recently by Government of India.
UM/AC
(Release ID :151120)

 

[Ankit Kumar 002]

An Alco or a EMD ?
This is what happens when you let a WDG4 and WDM3D together alone for a trip....

On a serious note , it's a WDM 3D with cabs from EMD.They tried their best to make it aerodynamic.

 

[raj76]

हरे कृष्ण हरे कृष्ण,कृष्ण कृष्ण हरे हरे
हरे राम हरे राम, राम राम हरे हरे
27-09-2016

#Economy:In a major revamp of its flagship rural jobs scheme, the Centre is set to mandate that all states ensure certain minimum standards for construction of roads under the Mahatma Gandhi National Rural Employment Guarantee Act. PM had asked the rural development ministry to ensure that the money spent on the scheme does not go waste in “digging ditches” but creates assets and economic activity.

#Finance:An inter-ministerial panel approved 11 proposals entailing foreign direct investment inflow of over Rs 2,300 crore.

#After the first meeting of the GST Council, the tax department today came out with three draft rules and their formats relating to registration, invoice and payments which would be finalised by week-end.

#Mera Bharat Mahaan:India is likely to import up to 2 million tonne wheat in the current fiscal after the customs duty cut on the grain to boost domestic supply and check prices, according to flour millers.


भारत माता की जय

 

[anant_s]

Vizag becomes latest Electric loco shed to be allocated WAP 7.
30497, 30498, 30500 & 30501
In a recent Railway board decision, all Electric loco sheds will be allocated 3 phase electric locomotives in next 2 years.
CLW is manufacturing only IGBT based locos.

 

[Avaraniya]

The cost of the railway project will be Rs 16,200 crore, up from around Rs 4,000 crore estimated when it was mooted six years ago. The rise in cost has been attributed to the forest ministry’s delay in giving environment clearance to Rail Vikas Nigam Limited (RVNL) for acquisition of land in high-altitude areas.

That is almost 2.5 Billion $. Do you know who is financing it ?

It think its a waste of precious money. How many people are going to make that trip ? or does it have any strategic importance (unlikely) ?

 

[Ryuzaki]

Land allocation for $100 bn DMIC project to begin in October; Ikea, Kia Motors eye plots

Read more at:
http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst

 

[Mujraparty]

India on the cusp of growth led by innovation
One of the most fascinating aspects of India is that the creativity of its people and their innovation skills are changing the dynamics of the global economy

I have travelled to India regularly for many years and the all-round development that I have witnessed here fascinates me. My visit to India this time is to focus on innovation. The Bertelsmann Foundation has just launched its ‘India Innovation Study’. In today’s world of rapid transformation, conventional ways of doing business are just not going to work. Technology is changing not only our business environment, but also our societies. In order to thrive in this environment, we need to work beyond national and cultural boundaries. In order to work together towards a win-win partnership, the Foundation commissioned its ‘India Innovation Study’.

One of the most fascinating aspects of India is that the creativity of its people and their innovation skills are changing the dynamics of the global economy. This development needs to be studied deeper and disseminated wider.

Our study, jointly conducted with Roland Berger strategy consultants, has been a first-of-its-kind comprehensive assessment of corporate innovation in India and its impact on Germany. The heart of it is made up of primary interactions with 80 companies and more than 150 stakeholders, including Indian and German industry associations, universities and research organizations, and government bodies. In addition, workshops were held in Berlin, Mumbai, New Delhi, Bengaluru, Chennai and Pune to help us gain multiple stakeholder perspectives

The results show that Indian companies are becoming more competitive globally and the start-up ecosystem here is vibrant and among the best in the world. I am very positive that India is on the cusp of innovation-led growth. This has significance for Germany, with its high-technology export-driven economy. In addition to rapid digitalization across sectors, Germany also has to deal with a demographic challenge affecting the availability of highly qualified engineers and scientists to retain its technological edge.

For India, Germany could play the role of a partner in modernizing and transforming its dynamic economy. The combination of Indian IT expertise with German engineering strength would be mutually beneficial in the light of latest developments like Industry 4.0. German companies and the German government should take serious note of this development and engage actively with their Indian partners.

The Bertelsmann Foundation was established in 1977 by my late husband, Reinhard Mohn. The Foundation was endowed with a majority shareholding in Bertelsmann Corporation, which funds the Foundation’s projects. In light of his success in the world of business, he felt a strong obligation to give back to society.

The Bertelsmann Foundation is an independent, non-partisan and non-profit think tank. We engage policymakers and thought leaders through innovative projects, research and debate to shape practical recommendations and policy solutions for pressing political, economic and social issues.

Since its inception, the Foundation has invested more than $1 billion in more than 700 projects. It has about 300 employees spread over in Barcelona, Brussels and Washington and is headquartered in the German town of Gütersloh.

The Foundation’s engagement with India is part of our Germany and Asia programme, which I established in 2012 to foster deeper engagement with the region, which is rapidly changing the dynamics of the current world order.

Our internationalization strategy has three aspects: learn, connect and transfer. We want to learn about the economic and social transformations happening in Asia, connect the decision-makers in Asia and in Germany as well as transfer the knowledge to each other, thereby finding global solutions to global challenges.

We look forward to a broader and deeper engagement with India in the future, especially on the topic of social innovation and corporate responsibility.

The topic of corporate social responsibility has interested me for a long time. I have seen many wonderful examples in our networks in the past few years, especially at small and medium-size companies. There is a lot that we could learn from each other.

India and Germany are key partners—economically, politically and socially. The Bertelsmann Foundation wants to make a positive contribution to this relationship.

Liz Mohn is a member of the supervisory board of Bertelsmann Foundation.


http://www.livemint.com/Opinion/ctX...-on-the-cusp-of-growth-led-by-innovation.html

 

[anant_s]

Konkan Railways

@Nilgiri @Ankit Kumar 002 @Levina @jbgt90 @Abingdonboy @PARIKRAMA

 

[Ankit Kumar 002]

Vizag becomes latest Electric loco shed to be allocated WAP 7.
30497, 30498, 30500 & 30501
In a recent Railway board decision, all Electric loco sheds will be allocated 3 phase electric locomotives in next 2 years.
CLW is manufacturing only IGBT based locos.

16/31 ELS as of today do not hold P5/7 or G9.

Will be an uphill task.
Also interesting, like P5 allocation to a new shed... HWH or SRC?

WAM4 and WAP1s are being condemned as of today so I expect likes of MGS who will be losing numbers will receive priority.