สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 26 กรกฎาคม 2556

Govt to examine Results of Existing FTAs and PTAs

Indian government plans to examine the results of free trade agreements(FTAs) and preferential trade agreements(PTAs) it already has before signing more such trade pacts with other countries.

The minister of state for commerce and industry D Purandeswari said, "We did enter into FTAs and PTAs with many countries. But, again whether these FTAs and PTAs have really delivered is something that we need to look at very closely, which the government intents to do". We need to get our own house in order before we actually partner with other countries." Besides, several experts, apex exporters body FIEO has said that exports to several countries with which India has signed FTAs have shown a declining trend.

(Source: the Economic Times)

AP gets 18 new investment proposals

The Andhra Pradesh government has received 18 new investment proposals since June last year. These include from Isuzu Motors, US-based West Pharmaceutical Packaging, US Gypsum, Sumitomo Corporation, Japan, Siemens, Germany, and Proctor & Gamble's expansion project, Itochu Group, Japan, and Johnson & Johnson, according to the chief minister's office.

Pradip Chandra, principal secretary - industries department, said AP continued to attract investments in large numbers and the department was taking all steps to facilitate the establishment of industries. "You may find instances of Posco or Arcelor Mittal backing out due to land acquisition issues in states like Karnataka and Odisha. Not a single company has ever faced such a situation in Andhra Pradesh," he said.

In a review meeting held on Wednesday, chief minister N Kiran Kumar Reddy asked the AP Industrial and Infrastructure Corporation (APIIC) to ensure speedy execution of units by the companies that were given land by the state nodal agency. Besides, the APIIC is developing 27 new industrial parks, including 3 exclusive parks for women entrepreneurs.

(Source: Business Standard)

Gujarat got approves new wind energy policy

Gujarat government on Thursday announced a new wind energy policy, fixing new procurement tariff and exempting wind energy from electricity duty.

The new wind energy policy got nod from the state cabinet today, state energy minister Saurabh Patel said in a statement. As per the new policy, procurement price of wind power has been pegged at Rs.4.15 per unit. This tariff would be applicable for next 25 years.

In order to promote green energy, in the new policy, the government has proposed exemption from electricity duty to wind power producers. The policy further proposes that power producers could use the wind power for captive consumption in their own units in the state. For this they will have to pay the wheeling and transmission charges. Also, if the power is to be used for captive consumption in more than one unit of the wind power producer, they will have to pay Rs.0.05 per unit more besides the wheeling and transmission charges.

(Source: Business Standard)

UP's CM unveils 350 infra projects worth 3,414 crore

Uttar Pradesh Chief Minister Akhilesh Yadav on Thursday launched 350 power and infrastructure projects worth more than Rs. 3,400 crore as the focus areas for faster economic. While, some of these projects were inaugurated on completion, foundation stones were laid for the others.

Yadav said inaugurations and laying foundation stones would be a regular feature in the remaining four years of his regime to fulfill the poll promises of his party. He inaugurated and laid foundation stones of 222 power projects of Rs. 1,141 crore for setting up power substations (both for distribution and transmission) of varying loads. Moreover, 131 infrastructure projects of Rs. 2,272 crore for bridges and roads were launched at his official residence.

Addressing the media, Yadav said the power transmission and distribution system was unable to bear the load at peak hours, and hence, needed urgent upgradation for uninterrupted power supply.

(Source: the Financial Express and Business Standard)

CII supports Assam to bring in investment

The Confederation of Indian Industry (CII) will partner the Assam government for overall economic development of the state and to facilitate policies that will attract investment and improve environment for doing business.

S. Gopalakrishnan, president of CII and also co-founder and executive vice chairman of Infosys Limited, met Assam chief minister Tarun Gogoi, local industry leaders, IT entrepreneurs on Tuesday and Wednesday to constitute a joint task force to work on a 5 point agenda for development of the state.The '5 point agenda' includes skill development, enhancing micro, small and medium enterprises (MSME), competitiveness in the state through capacity building, boosting food processing, health initiatives and supporting IT infrastructure.

To enhance the competitiveness of the MSME sector in Assam, CII has decided to work with the state government of Assam for cluster development programs. On skill development, CII would continue its focus on capacity building; skill based training programs and employability. In 2013-14 CII will set up four skill hubs across India including one in Assam at Digboi. The focus will be skill development on individual and institutional basis. To support healthcare, CII will partner the Assam government in setting up super specialist hospitals in the region.

"The region is at a threshold of an exciting transition, we can seize this opportunity for prosperity and development," said Gopalakrishnan while speaking to journalists.

(Source: Business Standard)

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