Indian Economy-News & Updates

[Mirza Jatt]

@Xinix - please chnage the value ($72 bn to $90 bn) mentioned in the title...and thanks for this great thread.... so the feel the....series of thread is back..

 

[Bushy]

Thanks for the news XiNiX, it's about time the real estate market bounced back... and it's gonna be big this time!

 

[leon]

hmmmm xinix is back with the might serious

coming to the topic its really a big amount

india is also intrested in involving japan in the bullet train project(still on paper)to get the techniquel know how,japan is considered the masters of bullet train tech

japan has also helped india by sharing its experience in delhi metro programme and see the result

this corridor is surely going to make delhi mumbai among 1 of the top business corridors in the world

 

[LCA Tejas]

@Xinx, Feel the Billion Value Deal... Hows it?? , Man I really am Missing your "Feel the" Series......

 

[ramu]

Guys, this is a post specifically for the Indians here.

We may not admit it but Indian growth story predominantly lies in its cities. This is good for the short term but if India has to sustain growth and the same momentum then, it is important to make Indian growth omnipresent.

I have lived in the UK for few years but I am getting back to India this August with an intention to contribute a delta amount to the Indian growth story. I long to hear stories where India can be a country that can bridge the gap between the rural urban divide.

Nothing stops me from sitting and working in a village as I like the village life. Even in UK, I have a house in a village. The difference is that I get the same facilities of the city in the village. From the broadband I use to the 24X7, 365/366 day power supply. However, if I have to contribute to deconjustion of the city I live in India, I have a problem. Just 3 months back, I found out about the power situation in a village 12 KMs from Bangalore. It is bad to say the least. Broadband is not heard of or the speed of the internet at most display a Google search is 5 seconds but still called broadband. I know this is going to improve with 2G and 3G spectrum allocation and in the times to come.

My point here is urban infrastructure is welcome but we have to focus on all round growth and basic infrastructure in villages and smaller cities as the influx of people into bigger cities can be manageable. I would like to see bullet trains that diverge out from Mumabai and connect atleast 10 smaller cities. Same should be the case with Hyderabad, Bangalore, Delhi Chennai and several others that I did not mention.

Indian growth should focus on moving away from the cities that have a GDP more than the GDP of a few states put together.

Feel free to express yourself ...

 

[Mirza Jatt]

^^^^^ agreed...though even that is changing now,but still lot of work to do in the rural areas.

 

[AVADI]

Guys, this is a post specifically for the Indians here.

We may not admit it but Indian growth story predominantly lies in its cities. This is good for the short term but if India has to sustain growth and the same momentum then, it is important to make Indian growth omnipresent.

I have lived in the UK for few years but I am getting back to India this August with an intention to contribute a delta amount to the Indian growth story. I long to hear stories where India can be a country that can bridge the gap between the rural urban divide.

Nothing stops me from sitting and working in a village as I like the village life. Even in UK, I have a house in a village. The difference is that I get the same facilities of the city in the village. From the broadband I use to the 24X7, 365/366 day power supply. However, if I have to contribute to deconjustion of the city I live in India, I have a problem. Just 3 months back, I found out about the power situation in a village 12 KMs from Bangalore. It is bad to say the least. Broadband is not heard of or the speed of the internet at most display a Google search is 5 seconds but still called broadband. I know this is going to improve with 2G and 3G spectrum allocation and in the times to come.

My point here is urban infrastructure is welcome but we have to focus on all round growth and basic infrastructure in villages and smaller cities as the influx of people into bigger cities can be manageable. I would like to see bullet trains that diverge out from Mumabai and connect atleast 10 smaller cities. Same should be the case with Hyderabad, Bangalore, Delhi Chennai and several others that I did not mention.

Indian growth should focus on moving away from the cities that have a GDP more than the GDP of a few states put together.

Feel free to express yourself ...

Well according to TRAI minimum speed to be considered as broadband is 256kbps i think even Pakistan has higher speeds for brodband.

 

[ramu]

^^^^^ agreed...though even that is changing now,but still lot of work to do in the rural areas.

The change is slow and painful. If it happens in the next ten years, I will take that.

 

[indiatech]

Japanese cos to develop cities along Del-Mumbai corridor

By fe Bureau
Leading Japanese infrastructure companies have entered into joint pacts with state governments for the $90-billion Delhi-Mumbai Industrial Corridor (DMIC) on Friday to model and develop cities on the lines of Japan's Yokohama and Kitakyushu. The Japanese firms who are becoming stakeholders in DMIC include Toshiba, Mitsubishi Group, Hitachi and Tokyo Electric Power.

These firms will also explore the feasibility of using technology to optimise energy supplies. The DMIC comprises of six- Haryana, Madhya Pradesh, Rajasthan, Gujarat, Uttar Pradesh and Maharashtra. The overall project is part of a plan to improve industrial infrastructure along the 1,483-km Delhi-Mumbai freight corridor. This ambitious project is being partly funded by the Japan Bank for International Cooperation.

The DMIC region covers a combination of both developed and underdeveloped industrial areas with varying natural resources. These regions are envisaged to be self-sustained industrial cities with world class infrastructure, road and rail connectivity for freight movement to and from ports and logistics hubs.

Japan is collaborating with the state governments to develop the corridor. As part of the four memorandum of understanding signed on Friday, Japanese consultants will launch feasibility studies to set up the first set of 'smart communities' in Manesar-Bawal (Haryana), Dahej and Changodar (Gujarat) and Shendra (Maharashtra).

"We have reached a stage where we can say this project will be taken to its conclusion," commerce minister Anand Sharma said. The project was conceived in 2006 during the visit of Japanese Prime Minister Yukio Hatoyama to New Delhi. The first phase of the project is expected to be completed by 2018. Meanwhile, India and Japan are also negotiating a Comprehensive Economic Partnership Agreement (CEPA). Sharma said that the agreement should be signed by the year-end. Prime Minister Manmohan Singh is slated to visit Tokyo in December. Sharma was present in a CII organised event in the capital with Japanese External Trade Organisation (Jetro).

Senior officials from both sides have been holding talks for a quick conclusion of the trade agreement. The two countries have sorted out differences over various issues ranging from accreditation of Indian degrees to allowing Indians drugs easy access to Japanese markets without the long and complicated clinical trial process.

Bilateral trade between India and Japan has more than doubled over the past four years to about $11 billion in 2008-09. A study conducted by industry chamber CII predicted that overall trade could touch $15 billion by 2010 if the FTA is signed.

 

[Chanakyaa]

Very valid point Ramu bhai.
Our Villages are the key for the long term prosperity.

 

[Bang Galore]

April 30, 2010 6:01pm

PricewaterhouseCoopers has weighed into the debate over whether China or India offers western companies better prospects - and says the answer is India, at least as far as business with emerging multinationals is concerned.

PwC forecasts in a report that India will produce no less than 2,200 multinational groups in the next 15 years and overtake China as the emerging world’s biggest source of multinationals, even though in the last five years China has led the way.

India, which started its economic globalisation later than China, is catching up, having generated 111 multinationals in 2008, the same number as China, and well ahead of South Korea in third place. However, given the much larger stock of Chinese multinationals today, it will not be until 2018 that India’s multinationals outnumber China’s, says PwC.

PwC argues India will forge ahead because of its greater economic openness while Chinese companies will focus increasingly on growing domestic demand. Yael Selfin, PwC’s head of macro consulting, who produced the report says that emerging country multinationals are increasingly moving straight into developed economies instead of investing first in neighbouring countries. She says in a press statement:

More new multinationals are moving straight into developed economies as opposed to setting up their first foreign operation in a neighbouring emerging economy. These new multinationals are increasingly likely to be in business services or higher value-added manufacturing sectors as opposed to the more basic natural resource extraction sectors.

These developments are an opportunity as well as a threat. Chris Hemmings, global head of corporate finance, says that western companies that are able to “build early alliances with emerging market multinationals will be safeguarding their business models for the future”.

India to generate more multinationals than China - report | beyondbrics | FT.com

 

[Cityboy]

Great deal. . Rly. Long live indo japan tie. Japan is great ally of india. .

 

[chachachoudhary]

I quite agree with ramu. Actually, I remember Dr. A. P.J. Abdul Kalam's dream PURA project.

PURA or providing urban infrastructure in rural areas is a marvellous idea of uplifting the lives of millions of rural population in india and bring qualitative change in their lifestyle.

India needs to spend similar amounts on time-bound rural infrastructure projects starting from grassroot "adivasi" dwellings or "padas" as known in india.

DMIC SUMMARY

 

[chachachoudhary]

DMIC IN PERSPECTIVE

 

[Prometheus]

The change is slow and painful. If it happens in the next ten years, I will take that.

my ancestral village is in border district ( not near border)
Although we have broadband, parks, water supply, local bus service etc..............but all the youngster have left the village .............all shifted to cities................if it continues its gonna be empty