Asian Lite News Archive

Category: Industry

  • Modi asks states to grab $100 bn investment

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      Prime Minister Narendra Modi  asked the states to grab the $100 billion worth of investments that have resulted from his summit-level interactions with Japan, China and the US. “(A total of) $100 billion investments from Japan, China and America have applied for visa. Now it is the turn of the states to capitalise on…

  • Yahoo! fires 600 techies in India

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     Internet giant and search engine Yahoo! is giving ‘pink slips’ to about 600 techies here to trim its workforce in India and consolidate its core engineering activity in the US. Though Yahoo! India R&D centre here declined to confirm, a source in the know of the development said that about 200 lateral/senior employees have, however, been…

  • Chinese firecrackers doom Sivakasi workers

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    By Venkatachari Jagannathan  It may not be a cracker of a Diwali this year for about 500,000 families in Tamil Nadu’s Sivakasi town – India’s biggest firecrackers manufacturing hub – as they fear getting swamped by Chinese firecrackers. “Two years back the illegal imports of Chinese firecrackers were sporadic. But this year it was phenomenal,…

  • India set to grow@6.5%: IMF

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    With India’s growth increasing on rising business confidence and stronger manufacturing activity since the April-May general election, it’s expected to grow faster in the rest of 2014 and 2015, according to the International Monetary Fund (IMF). India is “projected to grow at 5.6 percent in 2014 and pick up further to 6.4 percent in 2015…

  • India Inc upbeat

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    The confidence level of corporate India is improving in line with a slight turnaround in the economy, industry surveys showed Monday. And companies expect overall economic situation to become better in the near term, they said. The Business Confidence Index in the Federation of Indian Chambers of Commerce and Industry (FICCI) survey stood at 72.7,…

  • Modi inspires investor confidence

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      Prime Minister Narendra Modi’s “extremely successful” US visit, especially his meeting with top business leaders there, has seen a US-India business body committing to $42 billion investment in India with many lauding the “Gujarat model” of development. In a survey following Modi’s five-day visit, the US-India Business Council (USIBC), in a survey, found that…

  • Increase in India’s domestic air passenger demand

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    Travel industry body International Air Transport Association (IATA) said India’s domestic market increased by 7.4 percent in August over the previous year. “Results for the last two months have been solid, perhaps an early sign of improvement as a result of the new business-supportive government regime,” IATA said in a statement. According to IATA, India’s…

  • Modi hard sells India to CEO’s

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      Hard selling India with assurances of a business-friendly environment and a stable and simpler tax regime, Prime Minister Narendra Modi invited top US business to come and invest in India. Addressing the US-India Business Council comprising 300 top US companies doing business with India here Tuesday, he promised to replace bureaucratic red tape with…

  • Congress criticise Modi over drug pricing

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     West Bengal Congress president Adhir Ranjan Chowdhury Sunday attacked the Narendra Modi-led central government over its drug pricing policy and accused the BJP of spreading communalism by facilitating the RSS to get a foothold in the state. Hitting out at the central government’s decision to withdraw powers of the drug pricing authority to cap prices…

  • India’s software technology exports increase

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    By Sujit Chakraborty  India’s exports from the Software Technology Parks (STP) across India are rising at a pace of 8 to 10 percent annually and would further increase in the upcoming years as the industry spreads across the country, a senior sector official said. “There are huge software technology markets across the world and India’s…

  • Modi will market Brand India

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    By Ranjana Narayan When Prime Minister Narendra Modi sits down to breakfast with the CEOs of top US companies Monday, he will be speaking to them with the knowledge and authority of a business honcho who knows what he wants and can possibly market India as an investment destination better than anyone else. The prime…

  • By Modi, about Modi ‘Make in India’

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    By Prashant Sood  The launch of “Make in India” campaign here was as much about the new initiative as about the man behind it. Prime Minister Narendra Modi was the star of the occasion as a galaxy of industry leaders showered praise on him for his vision as Modi connected and bonded with the large…

  • Business on top in Modi’s US agenda

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    Prime Minister Narendra Modi leaves Thursday on a five-day much anticipated visit to the US, during which he will address the UN General Assembly and also hold a summit meeting with US President Barack Obama which would see trade and investment high on the agenda. The visit to the US caps a month of fast…

  • Modi launches ‘Make in India’ campaign

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      Prime Minister Narendra Modi  launched his pet “Make in India” campaign to put India prominently on the global manufacturing map and, in turn, facilitate the inflow of new technology and capital, while creating millions of jobs. The ambitious scheme, that also puts in place the logistics and systems to address in a timely manner queries…

  • Mukesh Ambani India’s richest tycoon

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    Reliance Industries chairman Mukesh Ambani has topped the Forbes magazine’s list of the top 100 richest tycoons in India for the eighth consecutive year with a net worth of $23.6 billion, up $2.6 billion from last year. For the first time, the top 100 richest tycoons in India are all billionaires, according to the latest…

  • Vodafone CEO positive about India

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    British telecom major Vodafone Group Chief Executive Officer Vittorio Colao  said the mood of the international investors about the new Bharatiya Janata Party-led government in India is positive but “quick decisions” will provide the necessary impetus to the companies. “Some of the steps taken by the government are good and investors like it. The mood…

  • Modi picks Adil to head quality council

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    Prime Minister Narendra Modi has picked former McKinsey India chief Adil Zainulbhai to head the Quality Council of India that promotes high standards in areas like education, healthcare, environment, infrastructure, governance and social sectors. The appointment is in keeping with Modi’s call to make “Made in India” a recognised and trusted brand globally, with products…

  • Modi sees upswing in ties

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    Ahead of Chinese President Xi Jinping’s visit, Prime Minister Narendra Modi Tuesday described the India-China ties as moving ahead from “Inch (India and China) towards Miles (Millennium of Exceptional Synergy)”. In a conversation with Chinese journalists based in New Delhi, Modi said: “India and China are bound by history, connected by culture, and inspired by…

  • Indian Railways to get Chinese help

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    Modernisation of many Indian railway stations, upgrading signalling system at level crossings, and introduction of high-speed trains are likely to be among the economic cooperation agreements inked during Chinese President Xi Jinping’s India visit next week. It will be mostly business during President Xi’s three-day India visit beginning Sep 17. While Japan is working on…

  • Rubber planters demands action

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    Natural rubber planters, especially small growers from Kerala, have petitioned the union government to impose anti-dumping duty or increase import tariff to protect them from falling prices in the domestic market. “We have urged the government to impose anti-dumping duty or hike tariff on surging imports, as prices of rubber varieties declined 16 percent during…

  • Tea goes cold in India

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     Erratic weather, scanty rains and high temperatures this summer have impacted tea production in India, as evident from 18 million kg (average) lower yield during the first six months of 2014. “Changing weather pattern in north India, especially in the eastern states resulted in tea production declining 22 million kg first half of this year…

  • Indian air fare war begins

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     Budget carrier IndiGo Tuesday started promotional air fares by offering discounted one-way fares starting at a low of Rs.999 (all inclusive one-way fare), a day after SpiceJet started its offer of Rs.499 one-way charge. According to IndiGo, its Delhi-Japiur flight is priced at Rs.999 one-way, follwoed by Rs.1,399 Srinagar-Chandigarh. The fares go all the way…

  • UK construction industry grows

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    The construction sector expanded at its fastest pace for seven months in August, despite supply shortages holding back growth, a survey suggests. The Markit/CIPS construction Purchasing Managers’ Index (PMI)surged to 64 in August from 62.4 in July, surprising economists who had forecast a fall. It is the 16th month in a row that the index…

  • India clears 49% FDI in insurance

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    The union cabinet Thursday approved a proposal to increase foreign direct investment (FDI) limit in the insurance sector to 49 percent from the current 26 percent. The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi okayed the proposal for the hike but maintains Indian management control. A senior government official who…

  • French aerospace eye Indian market

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    French aerospace major Thales plans to expand business in India in cooperation with defence behemoth Hindustan Aeronautics Ltd (HAL). “Thales has expressed desire to work with us to expand its business in India,” a HAL official said Thursday from London, where the state-run enterprise is participating in the ongoing week-long Farnborough international air show. Thales…

  • Priyanka Chopra to promote Indian handlooms

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    Actress Priyanka Chopra will soon be promoting the Indian sari on international platforms, officials said Thursday. A proposal to this effect was being given final touches and the National Film Award winner has given her consent, union Textile Secretary Zohra Chatterjee said during her visit to Varanasi, the parliamentary constituency of Prime Minister Narendra Modi.…

  • Modinomics is here, promise growth

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    Tax payers could save on their salaries and consumer goods like TVs, soap, footwear, processed food and computers will cost less as the Rs.18-lakh crore ($300-billion) maiden budget of Prime Minister Narendra Modi’s government promised to arrest price rise, boost investor mood, cut expenditure and restore India’s growth to 7-8 percent in three years. During…

  • Foreign satellite launches earn India 40 mn euros

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    India has earned around 40 million euros launching 15 foreign satellites from 2011 till date, Science and Technology Minister Jitendra Singh said Wednesday. In a written reply to a question in the Lok Sabha, Jitendra Singh – who is also minister for Earth sciences, department of atomic energy and department of space, said the Indian…

  • India Inc’s thumbs up for railway budget

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    Welcoming the thrust on resource mobilisation in this year’s rail budget, India Inc Tuesday welcomed the new government’s maiden exercise as practical and execution-oriented. “The Minister has presented a practical and execution-oriented Budget, laying emphasis on implementation of on-going projects and focusing on monitoring them for an early closure”, Sumit Mazumder, president designate Confederation of…

  • Hope rail budget meets expectations: Gowda

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    Railway Minister D.V. Sadananda Gowda began presenting the rail budget in Lok Sabha Tuesday, promising to serve the social obligations of the ministry, but with an eye on financial viability and the need to maintain and upgrade the network. “Everybody feels there are solutions to meet the challenges that the Indian Railways faces,” the minister…

  • Indian trains can run at 300 kmph!

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    Given a free hand, Indian engineers are capable of making Indian trains run at 300 kmph, a renowned expert says. But the railways must shed its archaic mindset to make this possible, B. Rajaram, a former managing director of Konkan Railway, said. “Our young engineers are quite capable of operating faster trains safely and efficiently,…

  • Kerala’s Startup Village model inspire

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    Startup Village, India’s first telecom and Internet incubator which has scripted a trailblazing product startup model in Kerala, needs to be replicated across the country by providing a conducive ecosystem, industry experts and officials have said. Startup Village has already incubated 3,000 startups, resulting in a massive upsurge in Kerala’s product startup industry. More than…

  • India’s apparel exports rise

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    Apparel exports from India jumped by 24.96 percent to $1.49 billion in May, helped by strong demands in non-traditional markets like Latin America, West Asia, Southern Africa and East Asia, even though shipments to the US and Europe remained sluggish. Labour and regulatory problems in major competitors Bangladesh, China and Myanmar also helped Indian exports,…

  • Toyota recalls 650,000 vehicles

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    Toyota Motor Corp has announced a recall for around 650,000 vehicles in Japan because of potentially defective airbags, expanding a costly recall it announced in 2013 because the supplier, Takata Corp, had not fully identified the problematic parts, Reuters has reported. Toyota vehicles covered by the recall include the Corolla and Camry sedans, and Tundra…

  • Etihad may invest EUR1.25bn in Alitalia

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    Abu Dhabi-based Etihad Airways is prepared to invest up to 1.25 billion euros ($1.7 billion) in Alitalia over the next four years under a possible tie-up between the two carriers, says Italian Transport Minister Maurizio Lupi  , according to a Reuters report. Of that, 560 million euros would be used to buy new shares in…

  • Kudankulam N-plant generates 1,000 MW

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    The first unit of the Kudankulam Nuclear Power Project (KNPP) generated its rated capacity of 1,000 MW Saturday afternoon, said a senior official. “The unit touched 1,000 MW at 1320 hours today (Saturday). There was no tension as we have been operating the unit at 950 MW in the morning,” R.S.Sundar, KNPP site director said. He…

  • E Sreedharan to advise railways

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    Railway Minister D.V. Sadananda Gowda Sunday said an expert committee will soon be set up with former Delhi Metro chief E. Sreedharan on it to advise the Indian Railways on rapid expansion and modernisation. “The committee will be constituted with experts like Sreedharan after consulting the prime minister, who has a great vision for the…

  • Godrej builds plant for US firm

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    Godrej Process Equipment here completed and shipped a 57-metre tall high pressure/low pressure flash column for a US fertiliser project, being constructed by Egypt’s Orascom, an official said. The stainless steel clad flash column has carbon steel as a base material and stainless steel internals and is a significant addition to the long list of…

  • Indian cos target Africa’s power, mining sectors

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    In a bid to tap into Africa’s growing power and mining sectors, some 30 Indian companies in these sectors are attending the 11th West African Mining and Power Exhibition (WAMPEX) , reports Francis Kokutse from IANS. The participation of the companies in the event, being held May 28-30, has been organised by the Confederation of Indian…

  • Jap co plans ‘first ad on the moon’

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    Japanese company Otsuka Pharmaceutical plans to place a capsule in the shape of one of its soft drinks cans on the surface of the moon next year. Otsuka claims it will transport a capsule that looks like a can of its Pocari Sweat drink, 200,000 miles to the surface of the moon. Moon shot: Pocari…

  • Hinduja unveils MetroDecker in London

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    Optare, a subsidiary of Hinduja Group’s Ashok Leyland, the fourth largest bus manufacturer in the world, has launched a new bus called the MetroDecker. The bus was unveiled at the London Transport Museum on 21 May in the presence of several dignitaries. A brief background of Optare which was bought out by Leyland Trucks and…

  • Cannes Special – India Pavilion

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    The India Pavilion at the 67th Cannes Film Festival organised by the information and broadcasting ministry has been a big draw over the past three days, the co-organisers Federation of Indian Chambers of Commerce and Industry (FICCI) said. Designed as a platform for stakeholders to market their films, the “India Pavilion has been seeing spectacular…