Indian Economy-News & Updates
- Thread starter Flintlock
- Start date
fsayed
SENIOR MEMBER
- Joined
- Feb 21, 2013
- Messages
- 2,606
- Reaction score
- -2
- Country
- Location
http://m.economictimes.com/news/eco...f-usd-391-33-billion/articleshow/59809840.cms
MUMBAI: India’s foreign exchange reserves rose $2.2 billion to reach a record high of $391.3 billion for the week ended July 21, said the Reserve Bank of India on Friday.
Taking advantage of a stock market rally coupled with a strong Rupee, market sources ET spoke to said that the central bank could be mopping up dollar reserves.
Data from NSDL shows Rs 22,997 crore was pumped into Indian markets by foreign institutional investors in the current month. Rs 1.7 lakh crore has been pumped in by foreign investors into Indian markets over the year.
MUMBAI: India’s foreign exchange reserves rose $2.2 billion to reach a record high of $391.3 billion for the week ended July 21, said the Reserve Bank of India on Friday.
Taking advantage of a stock market rally coupled with a strong Rupee, market sources ET spoke to said that the central bank could be mopping up dollar reserves.
Data from NSDL shows Rs 22,997 crore was pumped into Indian markets by foreign institutional investors in the current month. Rs 1.7 lakh crore has been pumped in by foreign investors into Indian markets over the year.
RISING SUN
SENIOR MEMBER
- Joined
- Jun 1, 2012
- Messages
- 4,015
- Reaction score
- 0
- Country
- Location
India's e-commerce market to cross Rs 2 lakh crore this fiscal: Govt
The e-commerce segment in India is growing and is likely to cross Rs 2 lakh crore this fiscal, the Parliament was informed on Friday. In the 2016-17 fiscal, the online market had grown by 19 per cent, Minister of State for Consumer Affairs C R Chaudhary said in a written reply to the Rajya Sabha.
"India's e-commerce market is estimated to be $33 billion in the financial year 2017," he said, quoting industry body NASSCOM's latest estimates.
On consumer complaints, the minister said that as many as 28,770 complaints were registered against the segment on the National Consumer Helpline (NCH) last fiscal.
Around 11,596 complaints were related to non-refund of payment while the rest were about defective products delivery, deficient services and poor quality/fake products, he added.
"The complaints are forwarded to the companies concerned for resolution," he said.
If consumer complaints are not resolved and if there is no response from the company, then consumers are advised to approach appropriate consumer forum, he added.
At present, there is a three-tier quasi-judicial mechanism in place for redressal of consumer grievances at district, state and national level.
To protect consumer interest, he said, the government has made several provisions to strengthen the consumer grievance redressal mechanism in a bill which was introduced in the Lok Sabha in August 2015.
http://timesofindia.indiatimes.com/...m=referral&utm_campaign=TOI&utm_content=om-bm
SEBI meets market infrastructure institutions to discuss cyber security and technology
SEBI (Securities and Exchange Board of India) convened a meeting on 28 July 2017 with stock exchanges, clearing corporations and depositories (market infrastructure institutions-MIIs) operating in the domestic market and GIFT IFSC in order to assess their preparedness on areas related to cyber security, technology and systems upgradations as well as business continuity plans, according to a press release from SEBI.
The meeting was chaired by SEBI Chairman and attended by managing director & chief executive officer of MIIs and their CTOs/CISOs (chief technology officers/ chief information systems officers). In the light of a recent technical glitch, NSE also confirmed that based on internal assessment, processes are being strengthened to further reduce the response time for recovery and also adoption of automated processes.
During the meeting, MIIs confirmed that the comprehensive framework for cyber security and system audit prescribed by SEBI is modelled on international best practices and are being followed.
SEBI stressed the importance of the need for sharing information on instances of technology related disruptions, cyber threats and attacks among MIIs so as to enhance their situational awareness. SEBI advised the MIIs to have constant vigil on the cyber threat landscape around the world and take lessons from such incidents. SEBI also emphasised that the MIIs should have well laid out change management procedures and standard operating procedures that should encompass all areas related to technology and operations. MIIs were advised to have a collaborative approach in dealing with technological challenges including cyber threats.
SEBI shall also undertake a comprehensive review of the technology and systems deployed at MIIs through its Technical Advisory Committee.
It was emphasised that there should be prompt and diligent reporting of any technical issues including cyber-attacks to relevant agencies including CERT-In and SEBI.
http://www.moneylife.in/article/seb...cuss-cyber-security-and-technology/51198.html
New telecom policy draft to be ready by end of this financial year, says Manoj Sinha
The Department of Telecom (DoT) is in process of formulating a new telecom policy and the draft of the same should be ready by end of ongoing fiscal, Parliament was informed today. “The DoT envisages to formulate a new National Telecom Policy in view of rapid technological advancement in the sector. The draft policy is likely to be ready by end of this financial year,” Telecom Minister Manoj Sinha said in a written reply in Rajya Sabha. The new telecom policy may include areas of technology innovation, security and protecting the interests of consumers, he added.
At present, National Telecom Policy 2012 is in force which has paved way for delinking of spectrum from licence, sharing and trading of spectrum, increase in broadband speed, blacklisting of stolen mobile phones, among others. However, the ministry is yet to meet certain targets like 2 megabits per second (Mbps) broadband speed for consumers and more importantly, empowering consumers by bringing their disputes with service providers under the jurisdiction of consumer forums.
http://www.financialexpress.com/eco...-this-financial-year-says-manoj-sinha/784610/
महाराष्ट्र में रविवार को खुलेंगे सभी बैंक, RBI ने बैंकों को कहा
भारतीय रिजर्व बैंक ने महाराष्ट्र के सभी बैंकों को निर्देश दिया है वह ग्रामीण और सेमी अर्बन क्षेत्रों में रविवार के दिन यानि 30 जुलाई को अपनी सभी शाखाओं को खुला रखेंगे। सभी राष्ट्रीय, क्षेत्रीय और कोऑपरेटिव बैंकों को यह निर्देश जारी किया गया है। रिजर्व बैंक ने यह निर्देश इसलिए जारी किया है क्योंकि इस समय किसान फसल बीमा का प्रीमियम जमा कराने के लिए बैंकों में पहुंच रहे हैं। महाराष्ट्र में 31 जुलाई को फसल बीमा का प्रीमियम जमा कराने की आखिरी तिथि है।
किसान समय रहते अपनी फसल का बीमा करा सकें इसके लिए रिजर्व बैंक ने रविवार के दिन भी महाराष्ट्र में ग्रामीण और सेमी अर्बन क्षेत्रों में बैंकों को अपनी शाखाएं खोलने का निर्देश दिया है। रिजर्व बैंक ने यह भी कहा है कि अगर किसी बैंक की कोई शाखा अपना साप्ताहिक अवकाश सोमवार को रखता है तो इस हफ्ते सोमवार को वह शाखा खुली रहेगी। 31 जुलाई को सोमवार है और महाराष्ट्र में फसल बीमा का प्रीमियम देने की अंतिम तारीख इस दिन है।
http://paisa.khabarindiatv.com/arti...-sunday-in-the-state-of-maharashtra-says-rbi/
Cash deposits made by babus after note ban under CBDT scan
The Central Board of Direct Taxes (CBDT) will be cracking down on public servants on illegal deposits made post demonetization, reports CNBC-TV18.
The CBDT has accumulated a large amount of data on illegal cash deposits, of which a part looks to have been made by public servants.
The report added that the CBDT has made it clear that the information on the misuse of public office will be shared with the chief vigilance officers of their respective ministries, and required action will be taken.
On November 8, 2016, Prime Minister Narendra Modi had declared a nation-wide recall of the Rs 500 and Rs 1000 notes in circulation at the time, issuing new Rs 500 and Rs 2000 notes in a bid to curb the use of black-money in the Indian economy.
http://www.moneycontrol.com/news/bu...s-after-note-ban-under-cbdt-scan-2339141.html
The e-commerce segment in India is growing and is likely to cross Rs 2 lakh crore this fiscal, the Parliament was informed on Friday. In the 2016-17 fiscal, the online market had grown by 19 per cent, Minister of State for Consumer Affairs C R Chaudhary said in a written reply to the Rajya Sabha.
"India's e-commerce market is estimated to be $33 billion in the financial year 2017," he said, quoting industry body NASSCOM's latest estimates.
On consumer complaints, the minister said that as many as 28,770 complaints were registered against the segment on the National Consumer Helpline (NCH) last fiscal.
Around 11,596 complaints were related to non-refund of payment while the rest were about defective products delivery, deficient services and poor quality/fake products, he added.
"The complaints are forwarded to the companies concerned for resolution," he said.
If consumer complaints are not resolved and if there is no response from the company, then consumers are advised to approach appropriate consumer forum, he added.
At present, there is a three-tier quasi-judicial mechanism in place for redressal of consumer grievances at district, state and national level.
To protect consumer interest, he said, the government has made several provisions to strengthen the consumer grievance redressal mechanism in a bill which was introduced in the Lok Sabha in August 2015.
http://timesofindia.indiatimes.com/...m=referral&utm_campaign=TOI&utm_content=om-bm
SEBI meets market infrastructure institutions to discuss cyber security and technology
SEBI (Securities and Exchange Board of India) convened a meeting on 28 July 2017 with stock exchanges, clearing corporations and depositories (market infrastructure institutions-MIIs) operating in the domestic market and GIFT IFSC in order to assess their preparedness on areas related to cyber security, technology and systems upgradations as well as business continuity plans, according to a press release from SEBI.
The meeting was chaired by SEBI Chairman and attended by managing director & chief executive officer of MIIs and their CTOs/CISOs (chief technology officers/ chief information systems officers). In the light of a recent technical glitch, NSE also confirmed that based on internal assessment, processes are being strengthened to further reduce the response time for recovery and also adoption of automated processes.
During the meeting, MIIs confirmed that the comprehensive framework for cyber security and system audit prescribed by SEBI is modelled on international best practices and are being followed.
SEBI stressed the importance of the need for sharing information on instances of technology related disruptions, cyber threats and attacks among MIIs so as to enhance their situational awareness. SEBI advised the MIIs to have constant vigil on the cyber threat landscape around the world and take lessons from such incidents. SEBI also emphasised that the MIIs should have well laid out change management procedures and standard operating procedures that should encompass all areas related to technology and operations. MIIs were advised to have a collaborative approach in dealing with technological challenges including cyber threats.
SEBI shall also undertake a comprehensive review of the technology and systems deployed at MIIs through its Technical Advisory Committee.
It was emphasised that there should be prompt and diligent reporting of any technical issues including cyber-attacks to relevant agencies including CERT-In and SEBI.
http://www.moneylife.in/article/seb...cuss-cyber-security-and-technology/51198.html
New telecom policy draft to be ready by end of this financial year, says Manoj Sinha
The Department of Telecom (DoT) is in process of formulating a new telecom policy and the draft of the same should be ready by end of ongoing fiscal, Parliament was informed today. “The DoT envisages to formulate a new National Telecom Policy in view of rapid technological advancement in the sector. The draft policy is likely to be ready by end of this financial year,” Telecom Minister Manoj Sinha said in a written reply in Rajya Sabha. The new telecom policy may include areas of technology innovation, security and protecting the interests of consumers, he added.
At present, National Telecom Policy 2012 is in force which has paved way for delinking of spectrum from licence, sharing and trading of spectrum, increase in broadband speed, blacklisting of stolen mobile phones, among others. However, the ministry is yet to meet certain targets like 2 megabits per second (Mbps) broadband speed for consumers and more importantly, empowering consumers by bringing their disputes with service providers under the jurisdiction of consumer forums.
http://www.financialexpress.com/eco...-this-financial-year-says-manoj-sinha/784610/
महाराष्ट्र में रविवार को खुलेंगे सभी बैंक, RBI ने बैंकों को कहा
भारतीय रिजर्व बैंक ने महाराष्ट्र के सभी बैंकों को निर्देश दिया है वह ग्रामीण और सेमी अर्बन क्षेत्रों में रविवार के दिन यानि 30 जुलाई को अपनी सभी शाखाओं को खुला रखेंगे। सभी राष्ट्रीय, क्षेत्रीय और कोऑपरेटिव बैंकों को यह निर्देश जारी किया गया है। रिजर्व बैंक ने यह निर्देश इसलिए जारी किया है क्योंकि इस समय किसान फसल बीमा का प्रीमियम जमा कराने के लिए बैंकों में पहुंच रहे हैं। महाराष्ट्र में 31 जुलाई को फसल बीमा का प्रीमियम जमा कराने की आखिरी तिथि है।
किसान समय रहते अपनी फसल का बीमा करा सकें इसके लिए रिजर्व बैंक ने रविवार के दिन भी महाराष्ट्र में ग्रामीण और सेमी अर्बन क्षेत्रों में बैंकों को अपनी शाखाएं खोलने का निर्देश दिया है। रिजर्व बैंक ने यह भी कहा है कि अगर किसी बैंक की कोई शाखा अपना साप्ताहिक अवकाश सोमवार को रखता है तो इस हफ्ते सोमवार को वह शाखा खुली रहेगी। 31 जुलाई को सोमवार है और महाराष्ट्र में फसल बीमा का प्रीमियम देने की अंतिम तारीख इस दिन है।
http://paisa.khabarindiatv.com/arti...-sunday-in-the-state-of-maharashtra-says-rbi/
Cash deposits made by babus after note ban under CBDT scan
The Central Board of Direct Taxes (CBDT) will be cracking down on public servants on illegal deposits made post demonetization, reports CNBC-TV18.
The CBDT has accumulated a large amount of data on illegal cash deposits, of which a part looks to have been made by public servants.
The report added that the CBDT has made it clear that the information on the misuse of public office will be shared with the chief vigilance officers of their respective ministries, and required action will be taken.
On November 8, 2016, Prime Minister Narendra Modi had declared a nation-wide recall of the Rs 500 and Rs 1000 notes in circulation at the time, issuing new Rs 500 and Rs 2000 notes in a bid to curb the use of black-money in the Indian economy.
http://www.moneycontrol.com/news/bu...s-after-note-ban-under-cbdt-scan-2339141.html
ChineseToTheBone
FULL MEMBER
- Joined
- Feb 19, 2017
- Messages
- 199
- Reaction score
- 0
- Country
- Location
Speaking of the e-commerce market, calculations of the gross national product for China do not include them yet. Allegedly the method will be updated soon and follow the standard used by most other countries.
Interesting to learn that Russia did not shift around much in terms of rank despite there being sanctions. Perhaps that is because there are few middle income countries to begin with.
IndoCarib
ELITE MEMBER
- Joined
- Jul 12, 2011
- Messages
- 10,784
- Reaction score
- -14
- Country
- Location
https://www.economist.com/news/asia...a-indias-once-shoddy-transport-infrastructure
India’s once-shoddy transport infrastructure is getting much better
But it has a long way to go to catch up with China
RISING SUN
SENIOR MEMBER
- Joined
- Jun 1, 2012
- Messages
- 4,015
- Reaction score
- 0
- Country
- Location
Govt needs to spend about Rs 1.8 lakh crore in electric vehicle infrastructure to meet 2030 target
Key highlights:
India sold only 25,000 units of electric vehicles in FY17, a good jump from 16,000 electric vehicles sold two years ago. However, out of the total electric vehicles sold in India only a few of them are electric cars.
For instance, in FY16 out of the 22,000 electric vehicles sold only 2,000 were four-wheelers.
This shows the wide gap in the needed to be bridged for India to achieve the electric vehicle target.
Charging stations few and far in India
One of the main reasons for the low sales of electric vehicles in India is the charging infrastructure needed to support it. This includes increasing the number of electric vehicle charging stations in India in order to remove the fear among consumers of their car getting stalled if they run out of power.
Currently there are only 206 community charging stations available across India, according to a recent report by Indian Express.
In addition, there are some individual electric vehicle manufacturers such as Mahindra & Mahindra and electric bike manufacturer Tork that have their own electric vehicle charging stations. Mahindra Electric at the moment has close to 50 fast charging stations, while Tork has four stations in Nagpur and a six in Pune. Tork plans to install 100 charging points in Pune.
In order to achieve the electric vehicle target by 2030 the government needs to set up around 6 million fast charging points across India considering if there are 30 million electric cars by that time (currently there are over 30 million registered cars in India).
Ever 1 fast charging point is enough to cater to 5 electric vehicles in a single day.
Investment needed by government
As the fast charging unit costs about Rs 3-4 lakh to set up, this means that the government would need to spend around Rs 1.80 lakh crore on setting up fast charging points and stations in India.
This is a huge amount that the government needs to spend if it is serious in achieving this electric vehicle target by 2030. However, it seems that this may be a bit difficult to achieve since the government has currently put very little money where its mouth is.
In FY16 the government allotted a meager sum of Rs 10 crore and Rs 20 crore towards the installation of dedicated charging infrastructure for public buses, according to the Indian Express report. This was to only create charging infrastructure for government-owned buses at their bus depots. It has yet to create any charging infrastructure for other public electrical vehicles.
Types of charging stations
While there are various different types of charging infrastructure for electric vehicles, fast charging points or stations are the fastest, taking only about 37 minutes.
There are currently about 3 types of charging stations for electric vehicles based on the speed of charging. Level 1 charging is the normal plug charging which provides 120 V AC and requires 8 hours to completely charge an electric car. Level 2 charging station provides 240 V AC and requires 3-4 hours. Level 3 charging station is the fastest with DC fast charging and requires approximately 37 minutes.
The fast charging capabilities are used by Tesla which is said to take only 15 minutes to charge the car completely.
Mahesh Babu, CEO, Mahindra Electric said, “As far as fast charging set ups go, typically a unit costs about R 3 to 4 lakh. Such fast charging set ups can cater to as many as 5 to 7 electric vehicles in a single day, making perfect business sense for fleet operators. With rapid improvement in technology, the efficiencies of these chargers is increasing and the costs coming down every day.”
Is charging stations at petrol/diesel pumps possible?
Kapil Shelke, CEO and Founder of Tork says due to the time constraints currently in charging electric vehicles he says it does not make sense to setup electric charging points at current petrol and diesel pumps in India. “People today would have to wait for over half an hour to charge their vehicles at petrol and diesel pumps creating huge queues and congestion. If the charging stations can reduce the time to even 15 minutes it would make sense to set it up there,” he said.
Babu however says charge stations can be set up at regular petrol and diesel pumps. “In fact, we are in talks with several organisations with deal in fossil fuels at present, exploring suitable business models for them based on EV charging... The cost structure is the same for setting up a fast charging set up at existing fuel pumps or any other location,” he adds.
“At present such set ups are being approved by PESO (Petroleum and Explosives Safety Organisation) on a case to case basis. These have to adhere to PESO guidelines like distance from fuel dispensing unit, nearness to the exit etc,” Babu said.
As a result electric vehicle companies in India are promoting for setting up charging facilities in public areas such as car parks, commercial complexes and even in the parking spaces of buildings.
“Other locations like mall parking lots, restaurant parking lots or parking lots of commercial organisations can also prove to be ideal. People park their vehicles for longer durations making it very easy for them to charge while they spend time at the venue,” Babu said.
The normal charging station which can be used at homes also costs much cheaper. Shelke says the normal plug charger that can be used in homes costs around Rs 35,000.
The problem about this is that in cities such as Mumbai where people live in flats, it is impossible for people to charge their electric cars unless their parking space has a charging port.
Public private partnership
However, the government seems to be tying up with private companies for setting up electric vehicle infrastructure in India. For instance, the 50 fast charging stations set up by Mahindra Electric across Bengaluru, Delhi and Nagpur has been installed in association with the government and fleet partners such as Ola cabs and Lithium.
Babu says, “To develop this network further, support from the government will be of utmost importance. Promoting public private partnership in this regard will bring together all the necessary stakeholders to get the right momentum in place.”
Even PSU company NTPC recently announced that it is ready to venture into the business of installing charging stations for electric cars in several cities in India.
With regards to the issue of different charging plugs by different electric vehicle manufacturers, many of the companies seem to working at creating standardised charging plugs and mechanisms.
“At Mahindra Electric, we have developed charging units based on all global protocols. We are also a steering member in the CHARIn committee in Europe, which works towards developing and establishing the Combined Charging System (CCS) as the standard for charging battery-powered electric vehicles of all kinds. We also work closely with the Government of India through SIAM and have been actively participating in developing the Bharat Standard for charging which will cater to both low and high voltage charging systems in India,” Babu said.
Similarly, Shelke said that they are following government guidelines in setting up charging plugs and mechanisms. “The ARAI (Automotive Research Association of India) and Niti Aayog has set up guidelines for charging facilities of electrical vehicles in India and we are following that,” he said.
While the target of 2030 seems a bit too ambitiousm, electric vehicle manufacturers seem to be positive.
“This is a commendable vision articulated by the government. World over, several studies are predicting a rapid disruption in mobility from the current model of personal fossil fuel based mobility to an electric, connected and shared model. And this shift is expected to become a reality within a decade or so,” Babu said.
http://www.zeebiz.com/companies/new...icle-infrastructure-to-meet-2030-target-19919
Key highlights:
- Government would need to spend around Rs 1.80 lakh crore on setting up fast charging points
- Fast charging unit costs about Rs 3-4 lakh to set up
- By 2030 the government needs to set up around 6 million fast charging points across India
India sold only 25,000 units of electric vehicles in FY17, a good jump from 16,000 electric vehicles sold two years ago. However, out of the total electric vehicles sold in India only a few of them are electric cars.
For instance, in FY16 out of the 22,000 electric vehicles sold only 2,000 were four-wheelers.
This shows the wide gap in the needed to be bridged for India to achieve the electric vehicle target.
Charging stations few and far in India
One of the main reasons for the low sales of electric vehicles in India is the charging infrastructure needed to support it. This includes increasing the number of electric vehicle charging stations in India in order to remove the fear among consumers of their car getting stalled if they run out of power.
Currently there are only 206 community charging stations available across India, according to a recent report by Indian Express.
In addition, there are some individual electric vehicle manufacturers such as Mahindra & Mahindra and electric bike manufacturer Tork that have their own electric vehicle charging stations. Mahindra Electric at the moment has close to 50 fast charging stations, while Tork has four stations in Nagpur and a six in Pune. Tork plans to install 100 charging points in Pune.
In order to achieve the electric vehicle target by 2030 the government needs to set up around 6 million fast charging points across India considering if there are 30 million electric cars by that time (currently there are over 30 million registered cars in India).
Ever 1 fast charging point is enough to cater to 5 electric vehicles in a single day.
Investment needed by government
As the fast charging unit costs about Rs 3-4 lakh to set up, this means that the government would need to spend around Rs 1.80 lakh crore on setting up fast charging points and stations in India.
This is a huge amount that the government needs to spend if it is serious in achieving this electric vehicle target by 2030. However, it seems that this may be a bit difficult to achieve since the government has currently put very little money where its mouth is.
In FY16 the government allotted a meager sum of Rs 10 crore and Rs 20 crore towards the installation of dedicated charging infrastructure for public buses, according to the Indian Express report. This was to only create charging infrastructure for government-owned buses at their bus depots. It has yet to create any charging infrastructure for other public electrical vehicles.
Types of charging stations
While there are various different types of charging infrastructure for electric vehicles, fast charging points or stations are the fastest, taking only about 37 minutes.
There are currently about 3 types of charging stations for electric vehicles based on the speed of charging. Level 1 charging is the normal plug charging which provides 120 V AC and requires 8 hours to completely charge an electric car. Level 2 charging station provides 240 V AC and requires 3-4 hours. Level 3 charging station is the fastest with DC fast charging and requires approximately 37 minutes.
The fast charging capabilities are used by Tesla which is said to take only 15 minutes to charge the car completely.
Mahesh Babu, CEO, Mahindra Electric said, “As far as fast charging set ups go, typically a unit costs about R 3 to 4 lakh. Such fast charging set ups can cater to as many as 5 to 7 electric vehicles in a single day, making perfect business sense for fleet operators. With rapid improvement in technology, the efficiencies of these chargers is increasing and the costs coming down every day.”
Is charging stations at petrol/diesel pumps possible?
Kapil Shelke, CEO and Founder of Tork says due to the time constraints currently in charging electric vehicles he says it does not make sense to setup electric charging points at current petrol and diesel pumps in India. “People today would have to wait for over half an hour to charge their vehicles at petrol and diesel pumps creating huge queues and congestion. If the charging stations can reduce the time to even 15 minutes it would make sense to set it up there,” he said.
Babu however says charge stations can be set up at regular petrol and diesel pumps. “In fact, we are in talks with several organisations with deal in fossil fuels at present, exploring suitable business models for them based on EV charging... The cost structure is the same for setting up a fast charging set up at existing fuel pumps or any other location,” he adds.
“At present such set ups are being approved by PESO (Petroleum and Explosives Safety Organisation) on a case to case basis. These have to adhere to PESO guidelines like distance from fuel dispensing unit, nearness to the exit etc,” Babu said.
As a result electric vehicle companies in India are promoting for setting up charging facilities in public areas such as car parks, commercial complexes and even in the parking spaces of buildings.
“Other locations like mall parking lots, restaurant parking lots or parking lots of commercial organisations can also prove to be ideal. People park their vehicles for longer durations making it very easy for them to charge while they spend time at the venue,” Babu said.
The normal charging station which can be used at homes also costs much cheaper. Shelke says the normal plug charger that can be used in homes costs around Rs 35,000.
The problem about this is that in cities such as Mumbai where people live in flats, it is impossible for people to charge their electric cars unless their parking space has a charging port.
Public private partnership
However, the government seems to be tying up with private companies for setting up electric vehicle infrastructure in India. For instance, the 50 fast charging stations set up by Mahindra Electric across Bengaluru, Delhi and Nagpur has been installed in association with the government and fleet partners such as Ola cabs and Lithium.
Babu says, “To develop this network further, support from the government will be of utmost importance. Promoting public private partnership in this regard will bring together all the necessary stakeholders to get the right momentum in place.”
Even PSU company NTPC recently announced that it is ready to venture into the business of installing charging stations for electric cars in several cities in India.
With regards to the issue of different charging plugs by different electric vehicle manufacturers, many of the companies seem to working at creating standardised charging plugs and mechanisms.
“At Mahindra Electric, we have developed charging units based on all global protocols. We are also a steering member in the CHARIn committee in Europe, which works towards developing and establishing the Combined Charging System (CCS) as the standard for charging battery-powered electric vehicles of all kinds. We also work closely with the Government of India through SIAM and have been actively participating in developing the Bharat Standard for charging which will cater to both low and high voltage charging systems in India,” Babu said.
Similarly, Shelke said that they are following government guidelines in setting up charging plugs and mechanisms. “The ARAI (Automotive Research Association of India) and Niti Aayog has set up guidelines for charging facilities of electrical vehicles in India and we are following that,” he said.
While the target of 2030 seems a bit too ambitiousm, electric vehicle manufacturers seem to be positive.
“This is a commendable vision articulated by the government. World over, several studies are predicting a rapid disruption in mobility from the current model of personal fossil fuel based mobility to an electric, connected and shared model. And this shift is expected to become a reality within a decade or so,” Babu said.
http://www.zeebiz.com/companies/new...icle-infrastructure-to-meet-2030-target-19919
fsayed
SENIOR MEMBER
- Joined
- Feb 21, 2013
- Messages
- 2,606
- Reaction score
- -2
- Country
- Location
http://m.economictimes.com/news/eco...-1-crore-this-fiscal/articleshow/59839893.cms
Registrations under GST likely to hit 1 crore this fiscal
By Rajeev Deshpande & Surojit Gupta, TNN | Updated: Jul 31, 2017, 10.28 AM IST
Facebook
Whatsapp
Twitter
LinkedIn
gplus
email
message
aPlus
NEW DELHI: The government estimates that total registrations, old and new, under the goods and services tax (GST) will add up to between 90 lakh and one crore by the end of the financial year, substantially increasing the tax base and ushering in greater compliance.
Official sources said multiple registrations under VAT, excise and service tax are expected to be eliminated once GST is fully implemented, and this will mean that the total number of old registrations will drop from 86 lakh to around 70 lakh.
However, the addition of those businesses that go out of the tax net and even entire sectors like textiles will push the registrations to close to a crore or 10 million.
This will mean the number of tax assessees could jump between 28% (if registrations touch 90 lakh) and 40% (if registrations touch a crore) over the older registrations that have migrated to the new regime, sources said.
A drop in the older registrations is explained, said officials, by a reduction in multiple registrations under VAT, service tax and excise.
So, the increase in the number of tax assessees is calculated on the basis of the number of businesses that have migrated to the new regime.
Government officials are breathing a little easier as the initial rollout has not resulted in any serious or prolonged disruptions. The number of new registrations is increasing, having touched 11 lakh over the weekend.
Protests by the textile sector in Gujarat in particular do not seem to have moved the Centre, which is not keen to make an exemption.
"This gives us comfort that there is a horizontal expansion of base. This will also lead to greater compliance," finance minister Arun Jaitley said in Chennai.
On Saturday, a new milestone was reached as new registrations crossed the 10 lakh mark. About two lakh new registrations are pending.
The sharp spurt in new registrations has brought cheer to policymakers who were expecting an increase in the tax base. Widening of the tax base and pushing up growth are two of the key benefits of GST identified by the government.
Sources said that the number of new registrations may go up as businesses have time to register with GST netowrk (GSTN), the IT backbone as and when they cross the threshold of Rs 20 lakh.
Economists also expect a significant expansion in the tax base even if 8-9 lakh of the 12 lakh new registrations file returns. The government's drive against black money has also resulted in a sharp uptick in returns being filed on the direct taxes side as well.
An overall expansion of the tax base augurs well for the economy and may ultimately help the government in lowering tax rates.
Registrations under GST likely to hit 1 crore this fiscal
By Rajeev Deshpande & Surojit Gupta, TNN | Updated: Jul 31, 2017, 10.28 AM IST
gplus
message
aPlus
NEW DELHI: The government estimates that total registrations, old and new, under the goods and services tax (GST) will add up to between 90 lakh and one crore by the end of the financial year, substantially increasing the tax base and ushering in greater compliance.
Official sources said multiple registrations under VAT, excise and service tax are expected to be eliminated once GST is fully implemented, and this will mean that the total number of old registrations will drop from 86 lakh to around 70 lakh.
However, the addition of those businesses that go out of the tax net and even entire sectors like textiles will push the registrations to close to a crore or 10 million.
This will mean the number of tax assessees could jump between 28% (if registrations touch 90 lakh) and 40% (if registrations touch a crore) over the older registrations that have migrated to the new regime, sources said.
A drop in the older registrations is explained, said officials, by a reduction in multiple registrations under VAT, service tax and excise.
So, the increase in the number of tax assessees is calculated on the basis of the number of businesses that have migrated to the new regime.
Government officials are breathing a little easier as the initial rollout has not resulted in any serious or prolonged disruptions. The number of new registrations is increasing, having touched 11 lakh over the weekend.
Protests by the textile sector in Gujarat in particular do not seem to have moved the Centre, which is not keen to make an exemption.
"This gives us comfort that there is a horizontal expansion of base. This will also lead to greater compliance," finance minister Arun Jaitley said in Chennai.
On Saturday, a new milestone was reached as new registrations crossed the 10 lakh mark. About two lakh new registrations are pending.
The sharp spurt in new registrations has brought cheer to policymakers who were expecting an increase in the tax base. Widening of the tax base and pushing up growth are two of the key benefits of GST identified by the government.
Sources said that the number of new registrations may go up as businesses have time to register with GST netowrk (GSTN), the IT backbone as and when they cross the threshold of Rs 20 lakh.
Economists also expect a significant expansion in the tax base even if 8-9 lakh of the 12 lakh new registrations file returns. The government's drive against black money has also resulted in a sharp uptick in returns being filed on the direct taxes side as well.
An overall expansion of the tax base augurs well for the economy and may ultimately help the government in lowering tax rates.
lemurian
FULL MEMBER
- Joined
- Mar 10, 2010
- Messages
- 415
- Reaction score
- 0
- Country
- Location
http://timesofindia.indiatimes.com/india/delhi-metro-to-get-a-massive-push/articleshow/59861017.cms
Delhi Metro to get a massive push
With phase 3 nearing completion, Delhi Metro is all set for a massive expansion. Increased track length and coaches will mean Delhi Metro will carry 43% more passengers, on a daily basis.
Delhi Metro to get a massive push
With phase 3 nearing completion, Delhi Metro is all set for a massive expansion. Increased track length and coaches will mean Delhi Metro will carry 43% more passengers, on a daily basis.
PayPal launches two technology innovation labs in India
PayPal said it had opened two innovation labs in India to support projects in the field of machine learning, artificial intelligence and other new technologies.
The labs – in Bangalore and Chennai – are the company’s first in India. PayPal has labs in the US and Singapore.
“India is a hotbed for innovation given its evolving startup ecosystem, diverse merchant profiles and enormous talent pool. To cater to their needs in the most effective manner, we are delighted to announce the launch of our newest Innovation Lab in India, where the focus will be on fueling new age technology and giving rise to unconventional ideas with the potential to transform the ecosystem we operate in,” Mike Todasco, Director of Innovation, PayPal, said.
The labs will also work on the internet-of-things, penetration testing, software defined radios and wireless communication, virtual and augmented reality, computer vision and basic robotics.
The India labs will also be integrated with some of PayPal’s on-going initiatives such as the PayPal Incubator, which was launched in 2013, to develop and nurture the next generation of fintech startups.
http://economictimes.indiatimes.com...vation-labs-in-india/articleshow/59876339.cms
Publicis.Sapient to double hiring of Indian talent
Read more at:
http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst
PayPal said it had opened two innovation labs in India to support projects in the field of machine learning, artificial intelligence and other new technologies.
The labs – in Bangalore and Chennai – are the company’s first in India. PayPal has labs in the US and Singapore.
“India is a hotbed for innovation given its evolving startup ecosystem, diverse merchant profiles and enormous talent pool. To cater to their needs in the most effective manner, we are delighted to announce the launch of our newest Innovation Lab in India, where the focus will be on fueling new age technology and giving rise to unconventional ideas with the potential to transform the ecosystem we operate in,” Mike Todasco, Director of Innovation, PayPal, said.
The labs will also work on the internet-of-things, penetration testing, software defined radios and wireless communication, virtual and augmented reality, computer vision and basic robotics.
The India labs will also be integrated with some of PayPal’s on-going initiatives such as the PayPal Incubator, which was launched in 2013, to develop and nurture the next generation of fintech startups.
http://economictimes.indiatimes.com...vation-labs-in-india/articleshow/59876339.cms
Publicis.Sapient to double hiring of Indian talent
Read more at:
http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst
RISING SUN
SENIOR MEMBER
- Joined
- Jun 1, 2012
- Messages
- 4,015
- Reaction score
- 0
- Country
- Location
By 2020, 96% of mobile phones sold in India will be Made in India
By 2020, almost 96 per cent of mobile phones sold in India will be locally manufactured, according to a research report.
India is set to increase its domestic localisation rate, says the report titled 'Indian Mobile Phone market: Emerging Opportunities for fulfilling India's Digital Economy Dream', released by Enixta, an artificial intelligence company, and Internet & Mobile Association of India (IAMAI). In 2016, two out of every three mobile phones sold in India were domestically produced.
Speaking at the launch of the report, Dr. Ajay Kumar, Additional Secretary, Ministry of Electronics and Information Technology, exuded confidence that in the next 5 to 10 years, nearly 25% of the global economy would be actually determined by the digital economy. He said that the Internet economy was the biggest opportunity in India and had the potential to be bigger than the ITeS industry.
Currently, India is the second-largest smartphone market in the world in terms of number of users but it is expected to be the biggest market for global smartphone sales in the next few years.
In FY 2019-20, India's smartphone manufacturing industry would be worth Rs 1,20,200 crore, the report claimed. The size of the domestic mobile manufacturing industry in FY 2019-20 is expected to be Rs 1,35,000 crore as against Rs 94,000 in FY 2016-17.
According to the report, there is a high possibility to build local sourcing capabilities for mobile phone components such as battery pack, non-electronic parts, accessories, packaging, etc. though the main electronic components will require a longer tenure to be sourced locally.
The report, which has studied the smartphone market in India from the perspective of consumer's needs and application, depicts a huge potential for increasing the local value addition in the domestic manufacturing industry.
According to the report, the demand for the mobile phones in India is largely met through imports. Much of the domestic mobile phone production in India is limited to assembling/packaging of SKD (semi-knocked down) kits.
This low level of local value addition is due to a weak manufacturing eco-system which in turn stems from limited capabilities across various stages of the manufacturing value chain.
http://economictimes.indiatimes.com...ally-report/articleshow/59883293.cms?from=mdr
Sapient to double hiring of Indian talent
Capitalising on the huge engineering talent pool that India offers, Publicis.Sapient is looking to double its headcount in the country, Chip Register, co-CEO, Publicis.Sapient told ET in an exclusive interview.
Register, who was in India recently, said the headcount will be doubled from the current 10,000 in the next 3-5 years. “We will also continue to grow our technology services and the consulting practice,“ said Register. In India, while the Publicis Groupe has a total of 15,000 employees, Sapient India has about 10,000 people.
Register added that two other large groups - Publicis Communications and Publicis Media -can gain by leveraging the Indian market. “There is a large opportunity there as well,“ he said. Publicis Media is the media planning and buying firm in the group.
Publicis.Sapient will also leverage its group firm SapientRazorfish India presence with more than 7,000 technologists to co-develop the artificial intelligence (AI) tool Marcel.
The company has set a target to complete the project in one year.
Publicis Groupe, the world's third-largest communications group, plans to use Marcel to communicate and collaborate across its global network of agencies through the use of Marcel.
It claims that Marcel is the first predictive, professional assistant powered by AI and machine-learning that will connect 80,000 employees across 200 disciplines in 130 countries. It will be unveiled at VivaTech in 2018.
Register added Marcel will allow people across cultures to commu nicate and have access to diverse solutions and methodologies.
“The function of the AI is to understand where the needs are,“ said Register. The company will however, not sell Marcel to outside clients and will leverage it to better its own offerings. “We are not a product company but it will certainly help our clients,“ said Register.
http://m.economictimes.com/jobs/pub...ing-of-indian-talent/articleshow/59876091.cms
India's job confidence outlook highest in Asia Pacific market: Job Applicant Confidence Index
India's job confidence outlook ranked highest in the Asia Pacific market, with 84 per cent Indian professionals participants indicating that they foresee a good future economic scenario in the country.
A majority of Indian professionals (84 per cent) favourably viewed their job and economic situation in the next six months and assessed it as 'good to excellent', according to the Michael Page Job Applicant Confidence Index Q2 2017.
The Index revealed that as compared to India's 84 per cent, it was 66 per cent among their Asia Pacific counterparts.
The Michael Page Job Applicant Confidence Index Q2 2017, evaluated the responses of 681 senior-level employees in the country across organisations and industries.
It was found that a significant share of Indian professionals surveyed, rated their overall workplace conditions as 'good to excellent', which included present job conditions (63 per cent), future job scenario (76 per cent) as well as current job opportunities within their area of expertise (51 per cent).
The survey revealed that despite an increase in automation and the recent layoffs in the Indian markets, 73 per cent of the respondents were confident of securing a job within three months.
Additionally, when asked about their outlook for their professional situation in the next 12 months, the participants were positive of acquiring opportunities in their current roles, including better skill development (82 per cent), scope of functions (78 per cent), career promotion (70 per cent).
The skills enhancement (51 per cent), salary (40 per cent) and better work-life balance (34 per cent) continue to be the top three reasons why employees are likely to switch from their current job, the survey showed.
"Indian economy is poised for a robust growth with technological advancements put on the fast track with government initiatives such as 'Digital India'. These factors will create new positions and career opportunities in emerging sectors," Michael Page India managing director Nicolas Dumoulin said.
http://economictimes.indiatimes.com...dence-index/articleshow/59875174.cms?from=mdr
India's central bank cuts key lending rate to 6 percent
India's central bank Wednesday cuts its key interest rate by a quarter of a percentage point on Wednesday, raising hopes of lower borrowing costs for households as inflation ebbs.
The announcement by the Reserve Bank of India reduced to 6 percent its repo rate, the interest rate the central bank charges on lending to commercial banks.
India's inflation rate declined to a record low of 1.54 percent in June, while the annual rate of growth in factory output fell to 1.7 percent in May from 8 percent in the same month a year earlier.
Most industrial groups had been pushing for an interest rate cut to help boost the economy by lowering the cost of borrowing.
Central bank Gov. Urjit Patel, who heads a six-member monetary policy committee, told journalists that the cut in borrowing rates was expected to invigorate investments and provide a push to the prime minister's key scheme to provide housing.
The decision followed the government's shock decision in November to withdraw from circulation the country's highest-value currency bill and a nationwide tax overhaul launched last month.
The central bank is working with the government to resolve stressed corporate borrowings and recapitalize state-owned banks, Patel said.
http://abcnews.go.com/Business/wireStory/indias-central-bank-cuts-key-lending-rate-percent-48983477
Medicines in India likely to be costlier due to RCEP trade pact
http://www.dnaindia.com/analysis/co...to-be-costlier-due-to-rcep-trade-pact-2520101
I believe if it doesn't help common people, its not worth it. We should look for mutual benefits where poor and common people's interest are taken into consideration positively.
How India’s auto industry is racing to meet 2020 Bharat Stage VI deadline
The year 2020 will mark an important chapter in India’s 67-year-old auto industry. That’s when automakers will take a giant leap forward and switch to far stricter emission standards that are on par with those in the US, Japan and the European Union.
R.C. Bhargava, chairman of India’s largest car maker, Maruti Suzuki India Ltd, sees the shift as “natural evolution” for an industry that has come a long way since the pre-Liberalization era.
The move is aimed at curbing emission in a country that has the dubious distinction of being home to half of the 20 most polluted cities in the world, according to World Health Organization (WTO) report released in June 2016. For Indian automakers such as Mahindra and Mahindra Ltd and Tata Motors Ltd, the efforts and capabilities required to leapfrog to Bharat Stage VI—the Indian equivalent of Euro VI, is akin to climbing the Mount Everest. It’s set to change the very DNA of auto companies, making them accountable for each unit of particulate matter and emission exhaled by automobiles. For car buyers, it would mean driving cleaner vehicles with advanced technology, albeit at a higher price.
What is Bharat Stage?
These are auto emission norms based on the European emission standards adopted in 2000. Each stage places a certain limit on pollutants released, which is controlled by the type of fuel produced by oil companies and the up-gradations and modifications made by automakers in vehicles to control pollutants such as NOx (Nitrogen Oxide) and particulate matter (PM). India has been adopting and enforcing the emission standards in a phased manner. BS III norms, for instance, were enforced across the country in October 2010 after they were first implemented in 13 major cities in April 2010. India now follows BS IV norms which came into effect in the entire country from April this year.
Why is BS VI inevitable?
The implementation of advanced norms is a critical step as India, the world’s third largest emitter after China and the US, is a signatory to Conference of Parties (CoP) protocol on combating climate change. As part of the agreement, by 2030 India has to reduce its carbon footprint by 33-35% from the 2005 levels.
Click here for enlarge
BS VI norms will address one of the inherent flaws in the European emission standards which permits diesel cars to emit more particulate matter and nitrogen oxide, said Anumita Roy Chowdhury, executive director at the Center for Science and Environment (CSE), a New Delhi-based think tank.
In diesel cars, the jump to BS VI norms will result in reduction of nitrogen oxide emission by 68% and particulate matter, which has a damaging effect on air quality and human health, by 82%. Similarly, in heavy-duty vehicles like trucks, the shift to BS VI norms would result in reduction of nitrogen oxide emissions by 87% and particulate matter by 67%.
India bit the bullet on advancing emission norms last January—an idea that was first mooted in 2015 before the country signed the Paris Climate Change deal. Subsequently, on 6 January 2016, an inter-ministerial group meeting chaired by Union minister for road transport and highways Nitin Gadkari and attended by heavy industries minister Anant Geete, environment minister Prakash Javadekar (now education minister) and oil minister Dharmendra Pradhan, announced that not only would India skip the intermediary step but also advance adoption by three years to 2020 from 2023. By skipping one stage India will catch up with European emission standards which are currently ahead by five years.
Even as environmentalists welcomed the decision, it set alarm bells ringing in boardrooms at auto companies and sent their product engineering teams into a huddle. Auto firms, parts makers and oil refiners are estimated to spend between Rs70,000 crore and Rs90,000 crore to comply with BS VI standards.
Given the high volumes and their presence in myriad segments of the automobile market, the leap to stage VI is giving executives at home-grown auto firms like Tata Motors and Mahindra and Mahindra sleepless nights. Unlike the local arms of the global automakers that have parent companies to fall back on, Indian companies will have to develop solutions ground up with the help of global firms specializing in emission control technologies.
The implementation of advanced norms is a critical step as India, the world’s third largest emitter after China and the US, is a signatory to Conference of Parties protocol on combating climate change
“It’s a massive work. This change took Europe nine years, we have to do it in three years,” said Timothy Leverton, chief technology officer at Tata Motors Ltd.
Rajan Wadhera, president automotive sector at Mahindra and Mahindra Ltd, echoed similar sentiments. “In my last 50 years, I have not seen this kind of challenge. It’s far more difficult than most of the technical transformation that I have seen in my career,” he said. But, he added, Mahindra is bracing for the challenge to ensure all its vehicles are compliant.
For Shekar Viswanathan, vice chairman, Toyota Kirloskar Motor Pvt. Ltd, upgrading to new emission standards is not a challenge. All the company needs to do is to recalibrate its Euro VI models already selling in other markets, as per the Indian driving cycle. “I think it’s a bigger challenge for companies that have a bigger footprint in India.”
Car market leader Maruti Suzuki India Ltd has around half a dozen passenger vehicle platforms, 16 models and around 150 variants. C.V. Raman, executive director, engineering, at Maruti Suzuki India, declined to comment for the story.
An email sent to Volkswagen Passenger Cars India Pvt. Ltd remained unanswered.
In an email response, a spokesperson at Hyundai Motor India Ltd said Hyundai as a global company has the technology available and is continuously introducing the same in India and meeting all the requirements. The automaker is geared up towards leading the introduction of BS VI, he said.
Paradigm shift in technology
CSE’s Roychowdhury said the transition to BS VI will bring a “paradigm shift in vehicle technology, particularly, for diesel vehicles,” as it will fundamentally alter the way emission is monitored even as it marks several firsts for the industry.
Here is how: It will require manufacturers, for the first time in India, to maintain service check data even for in-use vehicles and the way they are performing in actual road conditions. Today, the only mechanism we have to check emission from in-use on-road vehicles is a PUC (pollution under check) certificate, which Roychowdhury alludes to as “sham,” owing to its inability to check pollution effectively.
Also, for the first time, India will introduce real driving emission (RDE) standards that will be gauged through an on-board monitoring while the vehicle is being driven. It will monitor real-world emission from the vehicle and ensure that the sophisticated emission control systems fitted in the BS VI vehicles work at optimum efficiency through the life of the vehicle. With innumerable cases of in-road Euro-VI compliant vehicles emitting more than the permissible limit globally, RDE standards will be very helpful in monitoring emission effectively.
Click here for enlarge
In September 2015, US regulator Environmental Protection Agency (EPA) found that many Volkswagen cars being sold in America had a “defeat device” —or software—in diesel engines that could detect when they were being tested and could change performance to improve results. This allowed the engines to emit nitrogen oxide pollutants up to 40 times above what is permitted in the US. Volkswagen admitted it was guilty of manipulating test results and recalled from all across the world 11 million diesel cars fitted with software which helped in the manipulation.
The RDE in India is being derived from the European emission regulations, said Rashmi Urdhwareshe, director at the Pune-based Automotive Research Association of India, the automotive R&D, testing and certification agency. However, the RDE cycle in India is completely different.
“It’s still under discussion in what ways is it different,” she said, adding that data collection for it is underway.
With the help of the data, the government and the test agencies will be able to firm up an agreeable test cycle for RDE in India. The exercise is expected to be completed in a year’s time. Automakers will develop and calibrate the BS VI vehicles for RDE accordingly.
The emission standards will also mark a shift in the manner in which PM is regulated. Presently, it’s regulated based on mass of PM that comes out per kilometer of distance travelled. To regulate the very fine particles that come out of a vehicle, which are extremely harmful, India will switch to number standards for PM—regulating the number of units coming out.
Fuel concerns
Oil marketing companies (OMCs) have an equally important role to play in the big shift as they need to ensure the availability of the requisite grade of fuel well ahead of the deadline. Early introduction of technology would require support from the oil companies for the BS VI fuel availability not only in a select few cities, but across the country, said Maruti’s Bhargava. “Unlike BS III and BS IV that can make do with the inferior grade of fuel, BS VI vehicles simply cannot run on such fuel.”
Officials at OMCs said they are geared up for this.
A director of refineries at one of the oil marketing companies, who declined to be identified, said oil refinery firms including Reliance Industries, Bharat Oman Refineries Ltd (a joint venture company of Bharat Petroleum Corp. Ltd and Oman Oil SAOC, Sultanate of Oman) will be BS VI compliant. “Some of the other refiners will also be partially BS VI compliant and will be able to give quantities for testing in special batches,” he said.
In my last 50 years, I have not seen this kind of challenge. It’s far more difficult than most of the technical transformation that I have seen in my career- Rajan Wadhera, president automotive sector at Mahindra and Mahindra
Automakers are also seeking clarity from the government on whether the 1 April 2020 deadline, is applicable only for manufacturing or both manufacturing and registration of BS VI vehicles.
If it’s the latter, to ensure vehicles are available for registration from 1 April, auto companies will have to start manufacturing BS VI vehicles from the beginning of 2019, said Vishnu Mathur, director general at Society of Indian Automobile Manufacturers (Siam). “There has to be enough clarity on the date of manufacturing and registration,” said Mathur.
Also, if the deadline is applicable for both, oil companies will have to also ensure fuel availability well in advance. The stock has to be ready before 1 April. “If it becomes registration, we have accepted a highly ambiguous target,” Mathur added.
Toyota’s Viswanathan agreed: “At the end of the day, we don’t want a relaxation. We want it only when it’s suddenly sprung on us.” If the timelines are well defined, adhered to not only by the auto firms but OMCs also, the transition will be smooth, he said.
The emission leap is an opportunity for Indian companies and those like Maruti with high volumes, to create an ecosystem for advance emission technology, said Rajeev Pratap Singh, auto sector head at Deloitte Consulting. “With automakers already exporting Euro VI vehicles to so many countries, technical know-how is not a challenge.”
It’s just that they will now have to develop the requisite technologies and capabilities locally as against importing them as the scale is much bigger now, said Singh. India’s car market is expected to reach 4.8 million by 2020, he said.
Come April 2020, India’s automobile market will change in more ways than one, as the industry leapfrogs to the strictest emission norms—Bharat Stage VI—from the current BS IV. In a three-part series, Mint analyses the impact of the transition on the environment, automakers and their supply chains, and car and two-wheeler buyers.
http://www.livemint.com/Industry/Jm...ustry-is-racing-to-meet-2020-Bharat-Stag.html
India on track to meet 3.2% fiscal deficit target: UBS
The Indian government is on track to achieving the fiscal deficit target of 3.2 per cent of GDP in the current fiscal year, says an UBS report.
The global financial services major said however that balance sheets of states remain "stretched".
The central government's fiscal deficit has already reached 81 per cent of the full-year target in the first quarter (April to June) of 2017-18.
"Accordingly, the cumulative fiscal deficit reached 2.6 per cent of GDP FYTD. That said, we believe the central government will be able to achieve the fiscal target of 3.2 per cent of GDP in FY18," UBS said in a research note.
The Centre's fiscal deficit narrowed from a peak of 6.5 per cent of GDP in 2009-10 (after the global financial meltdown) to 3.5 per cent of GDP in 2016-17 and is estimated to fall further to 3.2 per cent of GDP in 2017-18.
However, the states' fiscal position remains stretched, with the fiscal deficit rising from a low of 1.9 per cent of GDP in 2011-12 to 3 per cent of GDP (including UDAY, a scheme to turn around state electricity boards) in 2016-17.
The report noted that while the pursuit of structural reforms, including a goods and services tax, bodes well for India's sovereign rating (currently at the lowest investment grade), the risk of a worsening consolidated (centre and state combined) fiscal position may act as a deterrent.
UBS said fiscal slippage due to an increase in populist spending by the government (including farm loan waivers announced by a few states) in the run up to the 2019 general elections remains a key risk for the government's fiscal deficit position.
"We believe the government's stretched combined fiscal deficit could crowd out investment both public and private, which tends to have a durable impact on overall growth vs. consumption and poses upside risks to inflation," it added.
http://economictimes.indiatimes.com...-target-ubs/articleshow/59879028.cms?from=mdr
By 2020, almost 96 per cent of mobile phones sold in India will be locally manufactured, according to a research report.
India is set to increase its domestic localisation rate, says the report titled 'Indian Mobile Phone market: Emerging Opportunities for fulfilling India's Digital Economy Dream', released by Enixta, an artificial intelligence company, and Internet & Mobile Association of India (IAMAI). In 2016, two out of every three mobile phones sold in India were domestically produced.
Speaking at the launch of the report, Dr. Ajay Kumar, Additional Secretary, Ministry of Electronics and Information Technology, exuded confidence that in the next 5 to 10 years, nearly 25% of the global economy would be actually determined by the digital economy. He said that the Internet economy was the biggest opportunity in India and had the potential to be bigger than the ITeS industry.
Currently, India is the second-largest smartphone market in the world in terms of number of users but it is expected to be the biggest market for global smartphone sales in the next few years.
In FY 2019-20, India's smartphone manufacturing industry would be worth Rs 1,20,200 crore, the report claimed. The size of the domestic mobile manufacturing industry in FY 2019-20 is expected to be Rs 1,35,000 crore as against Rs 94,000 in FY 2016-17.
According to the report, there is a high possibility to build local sourcing capabilities for mobile phone components such as battery pack, non-electronic parts, accessories, packaging, etc. though the main electronic components will require a longer tenure to be sourced locally.
The report, which has studied the smartphone market in India from the perspective of consumer's needs and application, depicts a huge potential for increasing the local value addition in the domestic manufacturing industry.
According to the report, the demand for the mobile phones in India is largely met through imports. Much of the domestic mobile phone production in India is limited to assembling/packaging of SKD (semi-knocked down) kits.
This low level of local value addition is due to a weak manufacturing eco-system which in turn stems from limited capabilities across various stages of the manufacturing value chain.
http://economictimes.indiatimes.com...ally-report/articleshow/59883293.cms?from=mdr
Sapient to double hiring of Indian talent
Capitalising on the huge engineering talent pool that India offers, Publicis.Sapient is looking to double its headcount in the country, Chip Register, co-CEO, Publicis.Sapient told ET in an exclusive interview.
Register, who was in India recently, said the headcount will be doubled from the current 10,000 in the next 3-5 years. “We will also continue to grow our technology services and the consulting practice,“ said Register. In India, while the Publicis Groupe has a total of 15,000 employees, Sapient India has about 10,000 people.
Register added that two other large groups - Publicis Communications and Publicis Media -can gain by leveraging the Indian market. “There is a large opportunity there as well,“ he said. Publicis Media is the media planning and buying firm in the group.
Publicis.Sapient will also leverage its group firm SapientRazorfish India presence with more than 7,000 technologists to co-develop the artificial intelligence (AI) tool Marcel.
The company has set a target to complete the project in one year.
Publicis Groupe, the world's third-largest communications group, plans to use Marcel to communicate and collaborate across its global network of agencies through the use of Marcel.
It claims that Marcel is the first predictive, professional assistant powered by AI and machine-learning that will connect 80,000 employees across 200 disciplines in 130 countries. It will be unveiled at VivaTech in 2018.
Register added Marcel will allow people across cultures to commu nicate and have access to diverse solutions and methodologies.
“The function of the AI is to understand where the needs are,“ said Register. The company will however, not sell Marcel to outside clients and will leverage it to better its own offerings. “We are not a product company but it will certainly help our clients,“ said Register.
http://m.economictimes.com/jobs/pub...ing-of-indian-talent/articleshow/59876091.cms
India's job confidence outlook highest in Asia Pacific market: Job Applicant Confidence Index
India's job confidence outlook ranked highest in the Asia Pacific market, with 84 per cent Indian professionals participants indicating that they foresee a good future economic scenario in the country.
A majority of Indian professionals (84 per cent) favourably viewed their job and economic situation in the next six months and assessed it as 'good to excellent', according to the Michael Page Job Applicant Confidence Index Q2 2017.
The Index revealed that as compared to India's 84 per cent, it was 66 per cent among their Asia Pacific counterparts.
The Michael Page Job Applicant Confidence Index Q2 2017, evaluated the responses of 681 senior-level employees in the country across organisations and industries.
It was found that a significant share of Indian professionals surveyed, rated their overall workplace conditions as 'good to excellent', which included present job conditions (63 per cent), future job scenario (76 per cent) as well as current job opportunities within their area of expertise (51 per cent).
The survey revealed that despite an increase in automation and the recent layoffs in the Indian markets, 73 per cent of the respondents were confident of securing a job within three months.
Additionally, when asked about their outlook for their professional situation in the next 12 months, the participants were positive of acquiring opportunities in their current roles, including better skill development (82 per cent), scope of functions (78 per cent), career promotion (70 per cent).
The skills enhancement (51 per cent), salary (40 per cent) and better work-life balance (34 per cent) continue to be the top three reasons why employees are likely to switch from their current job, the survey showed.
"Indian economy is poised for a robust growth with technological advancements put on the fast track with government initiatives such as 'Digital India'. These factors will create new positions and career opportunities in emerging sectors," Michael Page India managing director Nicolas Dumoulin said.
http://economictimes.indiatimes.com...dence-index/articleshow/59875174.cms?from=mdr
India's central bank cuts key lending rate to 6 percent
India's central bank Wednesday cuts its key interest rate by a quarter of a percentage point on Wednesday, raising hopes of lower borrowing costs for households as inflation ebbs.
The announcement by the Reserve Bank of India reduced to 6 percent its repo rate, the interest rate the central bank charges on lending to commercial banks.
India's inflation rate declined to a record low of 1.54 percent in June, while the annual rate of growth in factory output fell to 1.7 percent in May from 8 percent in the same month a year earlier.
Most industrial groups had been pushing for an interest rate cut to help boost the economy by lowering the cost of borrowing.
Central bank Gov. Urjit Patel, who heads a six-member monetary policy committee, told journalists that the cut in borrowing rates was expected to invigorate investments and provide a push to the prime minister's key scheme to provide housing.
The decision followed the government's shock decision in November to withdraw from circulation the country's highest-value currency bill and a nationwide tax overhaul launched last month.
The central bank is working with the government to resolve stressed corporate borrowings and recapitalize state-owned banks, Patel said.
http://abcnews.go.com/Business/wireStory/indias-central-bank-cuts-key-lending-rate-percent-48983477
Medicines in India likely to be costlier due to RCEP trade pact
http://www.dnaindia.com/analysis/co...to-be-costlier-due-to-rcep-trade-pact-2520101
I believe if it doesn't help common people, its not worth it. We should look for mutual benefits where poor and common people's interest are taken into consideration positively.
How India’s auto industry is racing to meet 2020 Bharat Stage VI deadline
The year 2020 will mark an important chapter in India’s 67-year-old auto industry. That’s when automakers will take a giant leap forward and switch to far stricter emission standards that are on par with those in the US, Japan and the European Union.
R.C. Bhargava, chairman of India’s largest car maker, Maruti Suzuki India Ltd, sees the shift as “natural evolution” for an industry that has come a long way since the pre-Liberalization era.
The move is aimed at curbing emission in a country that has the dubious distinction of being home to half of the 20 most polluted cities in the world, according to World Health Organization (WTO) report released in June 2016. For Indian automakers such as Mahindra and Mahindra Ltd and Tata Motors Ltd, the efforts and capabilities required to leapfrog to Bharat Stage VI—the Indian equivalent of Euro VI, is akin to climbing the Mount Everest. It’s set to change the very DNA of auto companies, making them accountable for each unit of particulate matter and emission exhaled by automobiles. For car buyers, it would mean driving cleaner vehicles with advanced technology, albeit at a higher price.
What is Bharat Stage?
These are auto emission norms based on the European emission standards adopted in 2000. Each stage places a certain limit on pollutants released, which is controlled by the type of fuel produced by oil companies and the up-gradations and modifications made by automakers in vehicles to control pollutants such as NOx (Nitrogen Oxide) and particulate matter (PM). India has been adopting and enforcing the emission standards in a phased manner. BS III norms, for instance, were enforced across the country in October 2010 after they were first implemented in 13 major cities in April 2010. India now follows BS IV norms which came into effect in the entire country from April this year.
Why is BS VI inevitable?
The implementation of advanced norms is a critical step as India, the world’s third largest emitter after China and the US, is a signatory to Conference of Parties (CoP) protocol on combating climate change. As part of the agreement, by 2030 India has to reduce its carbon footprint by 33-35% from the 2005 levels.
Click here for enlarge
BS VI norms will address one of the inherent flaws in the European emission standards which permits diesel cars to emit more particulate matter and nitrogen oxide, said Anumita Roy Chowdhury, executive director at the Center for Science and Environment (CSE), a New Delhi-based think tank.
In diesel cars, the jump to BS VI norms will result in reduction of nitrogen oxide emission by 68% and particulate matter, which has a damaging effect on air quality and human health, by 82%. Similarly, in heavy-duty vehicles like trucks, the shift to BS VI norms would result in reduction of nitrogen oxide emissions by 87% and particulate matter by 67%.
India bit the bullet on advancing emission norms last January—an idea that was first mooted in 2015 before the country signed the Paris Climate Change deal. Subsequently, on 6 January 2016, an inter-ministerial group meeting chaired by Union minister for road transport and highways Nitin Gadkari and attended by heavy industries minister Anant Geete, environment minister Prakash Javadekar (now education minister) and oil minister Dharmendra Pradhan, announced that not only would India skip the intermediary step but also advance adoption by three years to 2020 from 2023. By skipping one stage India will catch up with European emission standards which are currently ahead by five years.
Even as environmentalists welcomed the decision, it set alarm bells ringing in boardrooms at auto companies and sent their product engineering teams into a huddle. Auto firms, parts makers and oil refiners are estimated to spend between Rs70,000 crore and Rs90,000 crore to comply with BS VI standards.
Given the high volumes and their presence in myriad segments of the automobile market, the leap to stage VI is giving executives at home-grown auto firms like Tata Motors and Mahindra and Mahindra sleepless nights. Unlike the local arms of the global automakers that have parent companies to fall back on, Indian companies will have to develop solutions ground up with the help of global firms specializing in emission control technologies.
The implementation of advanced norms is a critical step as India, the world’s third largest emitter after China and the US, is a signatory to Conference of Parties protocol on combating climate change
“It’s a massive work. This change took Europe nine years, we have to do it in three years,” said Timothy Leverton, chief technology officer at Tata Motors Ltd.
Rajan Wadhera, president automotive sector at Mahindra and Mahindra Ltd, echoed similar sentiments. “In my last 50 years, I have not seen this kind of challenge. It’s far more difficult than most of the technical transformation that I have seen in my career,” he said. But, he added, Mahindra is bracing for the challenge to ensure all its vehicles are compliant.
For Shekar Viswanathan, vice chairman, Toyota Kirloskar Motor Pvt. Ltd, upgrading to new emission standards is not a challenge. All the company needs to do is to recalibrate its Euro VI models already selling in other markets, as per the Indian driving cycle. “I think it’s a bigger challenge for companies that have a bigger footprint in India.”
Car market leader Maruti Suzuki India Ltd has around half a dozen passenger vehicle platforms, 16 models and around 150 variants. C.V. Raman, executive director, engineering, at Maruti Suzuki India, declined to comment for the story.
An email sent to Volkswagen Passenger Cars India Pvt. Ltd remained unanswered.
In an email response, a spokesperson at Hyundai Motor India Ltd said Hyundai as a global company has the technology available and is continuously introducing the same in India and meeting all the requirements. The automaker is geared up towards leading the introduction of BS VI, he said.
Paradigm shift in technology
CSE’s Roychowdhury said the transition to BS VI will bring a “paradigm shift in vehicle technology, particularly, for diesel vehicles,” as it will fundamentally alter the way emission is monitored even as it marks several firsts for the industry.
Here is how: It will require manufacturers, for the first time in India, to maintain service check data even for in-use vehicles and the way they are performing in actual road conditions. Today, the only mechanism we have to check emission from in-use on-road vehicles is a PUC (pollution under check) certificate, which Roychowdhury alludes to as “sham,” owing to its inability to check pollution effectively.
Also, for the first time, India will introduce real driving emission (RDE) standards that will be gauged through an on-board monitoring while the vehicle is being driven. It will monitor real-world emission from the vehicle and ensure that the sophisticated emission control systems fitted in the BS VI vehicles work at optimum efficiency through the life of the vehicle. With innumerable cases of in-road Euro-VI compliant vehicles emitting more than the permissible limit globally, RDE standards will be very helpful in monitoring emission effectively.
Click here for enlarge
In September 2015, US regulator Environmental Protection Agency (EPA) found that many Volkswagen cars being sold in America had a “defeat device” —or software—in diesel engines that could detect when they were being tested and could change performance to improve results. This allowed the engines to emit nitrogen oxide pollutants up to 40 times above what is permitted in the US. Volkswagen admitted it was guilty of manipulating test results and recalled from all across the world 11 million diesel cars fitted with software which helped in the manipulation.
The RDE in India is being derived from the European emission regulations, said Rashmi Urdhwareshe, director at the Pune-based Automotive Research Association of India, the automotive R&D, testing and certification agency. However, the RDE cycle in India is completely different.
“It’s still under discussion in what ways is it different,” she said, adding that data collection for it is underway.
With the help of the data, the government and the test agencies will be able to firm up an agreeable test cycle for RDE in India. The exercise is expected to be completed in a year’s time. Automakers will develop and calibrate the BS VI vehicles for RDE accordingly.
The emission standards will also mark a shift in the manner in which PM is regulated. Presently, it’s regulated based on mass of PM that comes out per kilometer of distance travelled. To regulate the very fine particles that come out of a vehicle, which are extremely harmful, India will switch to number standards for PM—regulating the number of units coming out.
Fuel concerns
Oil marketing companies (OMCs) have an equally important role to play in the big shift as they need to ensure the availability of the requisite grade of fuel well ahead of the deadline. Early introduction of technology would require support from the oil companies for the BS VI fuel availability not only in a select few cities, but across the country, said Maruti’s Bhargava. “Unlike BS III and BS IV that can make do with the inferior grade of fuel, BS VI vehicles simply cannot run on such fuel.”
Officials at OMCs said they are geared up for this.
A director of refineries at one of the oil marketing companies, who declined to be identified, said oil refinery firms including Reliance Industries, Bharat Oman Refineries Ltd (a joint venture company of Bharat Petroleum Corp. Ltd and Oman Oil SAOC, Sultanate of Oman) will be BS VI compliant. “Some of the other refiners will also be partially BS VI compliant and will be able to give quantities for testing in special batches,” he said.
In my last 50 years, I have not seen this kind of challenge. It’s far more difficult than most of the technical transformation that I have seen in my career- Rajan Wadhera, president automotive sector at Mahindra and Mahindra
Automakers are also seeking clarity from the government on whether the 1 April 2020 deadline, is applicable only for manufacturing or both manufacturing and registration of BS VI vehicles.
If it’s the latter, to ensure vehicles are available for registration from 1 April, auto companies will have to start manufacturing BS VI vehicles from the beginning of 2019, said Vishnu Mathur, director general at Society of Indian Automobile Manufacturers (Siam). “There has to be enough clarity on the date of manufacturing and registration,” said Mathur.
Also, if the deadline is applicable for both, oil companies will have to also ensure fuel availability well in advance. The stock has to be ready before 1 April. “If it becomes registration, we have accepted a highly ambiguous target,” Mathur added.
Toyota’s Viswanathan agreed: “At the end of the day, we don’t want a relaxation. We want it only when it’s suddenly sprung on us.” If the timelines are well defined, adhered to not only by the auto firms but OMCs also, the transition will be smooth, he said.
The emission leap is an opportunity for Indian companies and those like Maruti with high volumes, to create an ecosystem for advance emission technology, said Rajeev Pratap Singh, auto sector head at Deloitte Consulting. “With automakers already exporting Euro VI vehicles to so many countries, technical know-how is not a challenge.”
It’s just that they will now have to develop the requisite technologies and capabilities locally as against importing them as the scale is much bigger now, said Singh. India’s car market is expected to reach 4.8 million by 2020, he said.
Come April 2020, India’s automobile market will change in more ways than one, as the industry leapfrogs to the strictest emission norms—Bharat Stage VI—from the current BS IV. In a three-part series, Mint analyses the impact of the transition on the environment, automakers and their supply chains, and car and two-wheeler buyers.
http://www.livemint.com/Industry/Jm...ustry-is-racing-to-meet-2020-Bharat-Stag.html
India on track to meet 3.2% fiscal deficit target: UBS
The Indian government is on track to achieving the fiscal deficit target of 3.2 per cent of GDP in the current fiscal year, says an UBS report.
The global financial services major said however that balance sheets of states remain "stretched".
The central government's fiscal deficit has already reached 81 per cent of the full-year target in the first quarter (April to June) of 2017-18.
"Accordingly, the cumulative fiscal deficit reached 2.6 per cent of GDP FYTD. That said, we believe the central government will be able to achieve the fiscal target of 3.2 per cent of GDP in FY18," UBS said in a research note.
The Centre's fiscal deficit narrowed from a peak of 6.5 per cent of GDP in 2009-10 (after the global financial meltdown) to 3.5 per cent of GDP in 2016-17 and is estimated to fall further to 3.2 per cent of GDP in 2017-18.
However, the states' fiscal position remains stretched, with the fiscal deficit rising from a low of 1.9 per cent of GDP in 2011-12 to 3 per cent of GDP (including UDAY, a scheme to turn around state electricity boards) in 2016-17.
The report noted that while the pursuit of structural reforms, including a goods and services tax, bodes well for India's sovereign rating (currently at the lowest investment grade), the risk of a worsening consolidated (centre and state combined) fiscal position may act as a deterrent.
UBS said fiscal slippage due to an increase in populist spending by the government (including farm loan waivers announced by a few states) in the run up to the 2019 general elections remains a key risk for the government's fiscal deficit position.
"We believe the government's stretched combined fiscal deficit could crowd out investment both public and private, which tends to have a durable impact on overall growth vs. consumption and poses upside risks to inflation," it added.
http://economictimes.indiatimes.com...-target-ubs/articleshow/59879028.cms?from=mdr
Skull and Bones
ELITE MEMBER
- Joined
- Jan 29, 2011
- Messages
- 18,601
- Reaction score
- -4
- Country
- Location
Rupee is at 2 year high.
http://www.moneycontrol.com/news/bu...bi-cuts-repo-rate-by-25-bps-to-6-2343477.html
http://www.moneycontrol.com/news/bu...bi-cuts-repo-rate-by-25-bps-to-6-2343477.html
Hindustani78
BANNED
- Joined
- Apr 8, 2014
- Messages
- 40,471
- Reaction score
- -47
- Country
- Location
Ministry of Railways
10-July, 2017 18:19 IST
Indian Railways Organization for Alternate Fuel (IROAF) sets gold standards by winning Golden Peacock Award for Eco Innovation for the year 2017 for introducing eco friendly and cost saving Dual Fuel 1400 HP Diesel engines on DEMU trains.
Indian Railways achieves a major landmark in the field of Eco friendly fuel technologies at Indian Railways Organization for Alternate Fuel (IROAF) which has been awarded the coveted National level “Golden Peacock Award for the Year 2017 for Eco-Innovation” for substitution of fossil fuels (Diesel) by environment friendly CNG in DEMU passenger train services. Use of CNG in Train Sets for passenger transportation has been done for the first time in the world. The CNG based dual fuel 1400 HP engine used in DEMU trains developed by IROAF has successfully substituted diesel fuel with CNG upto 20%. This innovation will reduce emissions considerably by bringing down NOx by 16%, CO2 by 6% and Particulate Matter by 18% besides achieving economy in fuel cost by 8%. So far, 19 Engines of DEMUs have been successfully converted into CNG based dual fuel engines with this technology.
Minister of Railways Shri Suresh Prabhakar Prabhu has congratulated the members of IROAF over this achievement. He said that the clean fuels are the need of an hour. Indian Railways should strive hard to cut down emission levels.
Golden Peacock Awards, instituted by the Institute Of Directors (IOD), India in 1991, are now regarded as a benchmark of Corporate Excellence worldwide. Golden Peacock awards have become a hallmark of excellence, both locally & globally. Based on internationally recognised criteria, the credibility of these awards lies in the transparency depth & impartiality of the assessment process.
Present technology of 20% substitution of diesel by CNG, has potential to save upto Rs. 1360 crores annually if implemented over entire fleet of Diesel Locomotives of Indian Railways. An improved technology of 40% substitution is at present being developed by IROAF. This will enhance the potential of saving of fuel cost of IR to about Rs. 3400 crore per annum. The environmental benefits will also double with this improved approach, if successful.
IROAF is a unique organization in the Government space which was established by Ministry of Railways to explore new environment friendly fuels/ renewable energy and eco- friendly technologies like substitution of diesel with CNG/LNG in train sets, replacing acetylene/LPG by CNG/LNG for metal cutting in Railway Workshops, proliferating and promoting use of Bio-Diesel in Railway Locomotives, roof top solar generation systems in Railway Workshops, use of solar energy on roof top of passenger and freight trains, setting up of waste to energy plants for converting Bio-Waste into Bio gas/electrical energy, Hydrogen based fuel cell technologies, Geo-Thermal Technologies and converting waste/bio mass to fuel. The organization is a premier single window agency of Indian Railways to work as a knowledge base and explore and prove out new fuels and technologies for Indian Railways with a view to being down Indian Railways fuel bill and at the same time achieve a shift towards greener fuels / renewable energy sources for a sustainable future.
10-July, 2017 18:19 IST
Indian Railways Organization for Alternate Fuel (IROAF) sets gold standards by winning Golden Peacock Award for Eco Innovation for the year 2017 for introducing eco friendly and cost saving Dual Fuel 1400 HP Diesel engines on DEMU trains.
Indian Railways achieves a major landmark in the field of Eco friendly fuel technologies at Indian Railways Organization for Alternate Fuel (IROAF) which has been awarded the coveted National level “Golden Peacock Award for the Year 2017 for Eco-Innovation” for substitution of fossil fuels (Diesel) by environment friendly CNG in DEMU passenger train services. Use of CNG in Train Sets for passenger transportation has been done for the first time in the world. The CNG based dual fuel 1400 HP engine used in DEMU trains developed by IROAF has successfully substituted diesel fuel with CNG upto 20%. This innovation will reduce emissions considerably by bringing down NOx by 16%, CO2 by 6% and Particulate Matter by 18% besides achieving economy in fuel cost by 8%. So far, 19 Engines of DEMUs have been successfully converted into CNG based dual fuel engines with this technology.
Minister of Railways Shri Suresh Prabhakar Prabhu has congratulated the members of IROAF over this achievement. He said that the clean fuels are the need of an hour. Indian Railways should strive hard to cut down emission levels.
Golden Peacock Awards, instituted by the Institute Of Directors (IOD), India in 1991, are now regarded as a benchmark of Corporate Excellence worldwide. Golden Peacock awards have become a hallmark of excellence, both locally & globally. Based on internationally recognised criteria, the credibility of these awards lies in the transparency depth & impartiality of the assessment process.
Present technology of 20% substitution of diesel by CNG, has potential to save upto Rs. 1360 crores annually if implemented over entire fleet of Diesel Locomotives of Indian Railways. An improved technology of 40% substitution is at present being developed by IROAF. This will enhance the potential of saving of fuel cost of IR to about Rs. 3400 crore per annum. The environmental benefits will also double with this improved approach, if successful.
IROAF is a unique organization in the Government space which was established by Ministry of Railways to explore new environment friendly fuels/ renewable energy and eco- friendly technologies like substitution of diesel with CNG/LNG in train sets, replacing acetylene/LPG by CNG/LNG for metal cutting in Railway Workshops, proliferating and promoting use of Bio-Diesel in Railway Locomotives, roof top solar generation systems in Railway Workshops, use of solar energy on roof top of passenger and freight trains, setting up of waste to energy plants for converting Bio-Waste into Bio gas/electrical energy, Hydrogen based fuel cell technologies, Geo-Thermal Technologies and converting waste/bio mass to fuel. The organization is a premier single window agency of Indian Railways to work as a knowledge base and explore and prove out new fuels and technologies for Indian Railways with a view to being down Indian Railways fuel bill and at the same time achieve a shift towards greener fuels / renewable energy sources for a sustainable future.
gslv mk3
BANNED
- Joined
- Aug 4, 2012
- Messages
- 13,840
- Reaction score
- -18
- Country
- Location
Yes.
Hindustani78
BANNED
- Joined
- Apr 8, 2014
- Messages
- 40,471
- Reaction score
- -47
- Country
- Location
Ministry of Railways
14-July, 2017 16:33 IST
Minister of Railways Shri Suresh Prabhakar Prabhu inducts First DEMU Train with Solar powered Coaches into service of the Nation
Minister of Railways Shri Suresh Prabhakar Prabhu today (14 July 2017) dedicated to the nation the first 1600 HP DEMU train with Solar Powered Coaches with a unique facility of Battery Bank here today. The entire electrical need of the coaches for Lighting, Fans and Information Display System will be met from the Solar Energy produced from the solar panels fitted in the roofs of coaches. While this train has been manufactured by the Coach Factory of Indian Railways namely Integral Coach Factory (ICF), Chennai, its Solar panels and Solar systems have been developed and fitted by Indian Railways Organisation of Alternative Fuel (IROAF) Delhi. This first rake has been commissioned and based at Shakurbasti DEMU shed in Delhi of Northern Railway. Twenty-four more coaches will be fitted with this system within the next 6 months. The first rake will be put in the commercial service over the suburban railway system of Delhi division of Northern Railway.
On this occasion, Member Rolling Stock, Railway Board Shri Ravindra Gupta, General Manager Northern Railway Shri R.K Kulshreshtha, CAO of IROAF Shri Ravinder Gupta, CME Northern Railway Shri Arun Arora, CME IROAF Shri G.K Gupta, DRM Delhi Shri R.N Singh were among those present.
Speaking on the occasion, Minister of Railways Shri Suresh Prabhakar Prabhu said that “Indian Railways has taken a path breaking leap towards making Indian Railways’ trains greener and more environment friendly. Hon’ble Prime Minister Shri Narendra Modi has also been emphasising on use of green energy and Environment friendly measures. Indian Railways is committed for environment conservation & use of cleaner fuels. Indian Railways is trying to increase use of non-conventional sources of energy. More solar powered trains may be inducted in future.” Indian Railways has already made a target of 1000 MW Solar Plants in next five-years. Indian Railways is also taking several others environment friendly measures like Tea Plantation, Bio-toilet, Water-Recycling, Waste Disposal, using Bio-fuel CNG and LNG, Wind Energy etc.
Normally, DEMU trains provide power for its passenger comfort systems – lights and fans - from a diesel driven generator fitted on its Driving Power Car (DPC). IROAF has developed this system with a smart MPPT inverter which optimises power generation on a moving train to cater to full load even during the night. The unique feature of Battery Bank through storage battery ensures sufficient electricity when the sunlight is not available. The system helps in reducing Diesel consumption of the DPC and hence reduces carbon signature of these commuter trains by reducing CO2 generation by 9 Tonnes per coach per year.
A solar power DEMU train with six trailer coaches will save about 21,000 Litres of Diesel and thereby bring cost saving of Rs.12 Lac every year. Savings for a 10 coach rake with 8 trailer coaches will increase proportionately. These benefits will continue for entire 25 years life time of the rake. This will help in making DEMU commuter services better, more economical and environment friendly.
Solar hotel load (Lighting and Fan) system fitted on each coach is of 4.5 KWp capacity consisting of 16 Solar Panels of 300Wp each. This is adequate to power the fans and lights of the coach. The system is capable of developing up to 20 kWh per day (average) throughout the year. Surplus power generated during peak hours is stored in a 120 AH battery system. The system uses a data acquisition system and interfaces with existing hotel load power system of DEMU train. It will help in generating useful data for research for adapting the system for future rollout on all trains of IR. The system costs about Rs. 9 lakhs per coach at prototype stage.
Northern Railway launched the first DEMU service on Indian Railways in 1994. Today, NR has 3 DEMU sheds having highest DEMU holding on Indian Railways. Shakurbasti DEMU shed of Northern Railway has been a pioneer in the field of green powered DEMUs - CNG & Solar powered. The very first CNG fitted DEMUs were run by Shakurbasti. Now the first Solar panel powered DEMU train will also be maintained and operated by DEMU shed, Shakurbasti of Northern Railway. This pioneering effort makes a transition towards clean energy and reduction in the carbon emission.
****
14-July, 2017 16:33 IST
Minister of Railways Shri Suresh Prabhakar Prabhu inducts First DEMU Train with Solar powered Coaches into service of the Nation
Minister of Railways Shri Suresh Prabhakar Prabhu today (14 July 2017) dedicated to the nation the first 1600 HP DEMU train with Solar Powered Coaches with a unique facility of Battery Bank here today. The entire electrical need of the coaches for Lighting, Fans and Information Display System will be met from the Solar Energy produced from the solar panels fitted in the roofs of coaches. While this train has been manufactured by the Coach Factory of Indian Railways namely Integral Coach Factory (ICF), Chennai, its Solar panels and Solar systems have been developed and fitted by Indian Railways Organisation of Alternative Fuel (IROAF) Delhi. This first rake has been commissioned and based at Shakurbasti DEMU shed in Delhi of Northern Railway. Twenty-four more coaches will be fitted with this system within the next 6 months. The first rake will be put in the commercial service over the suburban railway system of Delhi division of Northern Railway.
On this occasion, Member Rolling Stock, Railway Board Shri Ravindra Gupta, General Manager Northern Railway Shri R.K Kulshreshtha, CAO of IROAF Shri Ravinder Gupta, CME Northern Railway Shri Arun Arora, CME IROAF Shri G.K Gupta, DRM Delhi Shri R.N Singh were among those present.
Speaking on the occasion, Minister of Railways Shri Suresh Prabhakar Prabhu said that “Indian Railways has taken a path breaking leap towards making Indian Railways’ trains greener and more environment friendly. Hon’ble Prime Minister Shri Narendra Modi has also been emphasising on use of green energy and Environment friendly measures. Indian Railways is committed for environment conservation & use of cleaner fuels. Indian Railways is trying to increase use of non-conventional sources of energy. More solar powered trains may be inducted in future.” Indian Railways has already made a target of 1000 MW Solar Plants in next five-years. Indian Railways is also taking several others environment friendly measures like Tea Plantation, Bio-toilet, Water-Recycling, Waste Disposal, using Bio-fuel CNG and LNG, Wind Energy etc.
Normally, DEMU trains provide power for its passenger comfort systems – lights and fans - from a diesel driven generator fitted on its Driving Power Car (DPC). IROAF has developed this system with a smart MPPT inverter which optimises power generation on a moving train to cater to full load even during the night. The unique feature of Battery Bank through storage battery ensures sufficient electricity when the sunlight is not available. The system helps in reducing Diesel consumption of the DPC and hence reduces carbon signature of these commuter trains by reducing CO2 generation by 9 Tonnes per coach per year.
A solar power DEMU train with six trailer coaches will save about 21,000 Litres of Diesel and thereby bring cost saving of Rs.12 Lac every year. Savings for a 10 coach rake with 8 trailer coaches will increase proportionately. These benefits will continue for entire 25 years life time of the rake. This will help in making DEMU commuter services better, more economical and environment friendly.
Solar hotel load (Lighting and Fan) system fitted on each coach is of 4.5 KWp capacity consisting of 16 Solar Panels of 300Wp each. This is adequate to power the fans and lights of the coach. The system is capable of developing up to 20 kWh per day (average) throughout the year. Surplus power generated during peak hours is stored in a 120 AH battery system. The system uses a data acquisition system and interfaces with existing hotel load power system of DEMU train. It will help in generating useful data for research for adapting the system for future rollout on all trains of IR. The system costs about Rs. 9 lakhs per coach at prototype stage.
Northern Railway launched the first DEMU service on Indian Railways in 1994. Today, NR has 3 DEMU sheds having highest DEMU holding on Indian Railways. Shakurbasti DEMU shed of Northern Railway has been a pioneer in the field of green powered DEMUs - CNG & Solar powered. The very first CNG fitted DEMUs were run by Shakurbasti. Now the first Solar panel powered DEMU train will also be maintained and operated by DEMU shed, Shakurbasti of Northern Railway. This pioneering effort makes a transition towards clean energy and reduction in the carbon emission.
****
Pakistan Affairs Latest Posts
-
-
Imran Khan vs Pakistan: Protest of Treachery - Casualty Report- Latest: Pakistan Space Agency
-
-
-
Bajwa calls Bushra's allegations against Saudi Arabia 'baseless'
- Latest: Novus ordu seclorum
