Govt to move land acquisition bill during winter session
The government will soon finalise the cut-off date for implementing the new land acquisition legislation, which will be introduced in the winter session of Parliament, rural development minister Jairam Ramesh said on Thursday.
The minister said although a group of ministers, headed by agriculture minister Sharad Pawar, has modified the proposed bill and it no longer requires the consent of livelihood losers, they would be entitled to rehabilitation and compensation.
(Sources: Economic Times, Indiatimes, Livemint, the Hindu, Zeenews, NDTV)
A'bad saw highest investment among top 10 emerging business destinations, says C&W
At roughly $ 13.37 billion, Ahmedabad saw the highest volume of investment by various companies in last two years among top 10 emerging business destinations, said global real estate consultancy, Cushman & Wakefield (C&W).
The latest report on 'Top 10 Emerging Business Destinations in India' by C&W has identified the cities of Ahmedabad, Bhubaneswar, Chandigarh, Coimbatore, Jaipur, Kochi, Indore, Nagpur, Vadodara and Vishakhapatnam as the next most promising business destinations offering a long term investment potential.
Ahmedabad formed 38.8 % of the total investment volume of $ 34.46 billion in the top 10 emerging business destinations, followed by Vishakhapatnam at $ 11 billion (32%) and Vadodara at $ 4.63 billion (13.5%). In Ahmedabad, however, since 2010, majority of which was in the automobile and auto components sector, followed by telecom and real estate & infrastructure
(Sources: Business Standard, Economic Times, Indiatimes, Hindu Business Line, Moneycontrol)
Honda plans made-in-India product to challenge Hero
Japanese auto major Honda Motorcycle and Scooter India (HMSI), which has invested close to $ 28.14 million to make operational and integrated technical centre at its Manesar facility, will roll out its first indigenously developed product over the next two to three years.
Keita Muramatsu, president and chief executive officer, HMSI, said, “We will develop a new product from the scratch for the Indian market at our technical centre in Manesar. This should happen over the next two to three years.”
The decision highlights the growing importance of India in Honda’s global two-wheeler operations after the termination of the joint venture of Hero Honda with the Munjals’ promoted Hero Group early last year.
(Sources: Business Standard, Economic Times, Indiatimes, Hindu Business Line, Moneycontrol)
M&M eyes $2.5 bn from farm equipment
Mahindra & Mahindra is eying revenues of $2.5 billion from its farm equipment division in the current financial year. The division comprises tractor manufacturing and a small portion of other farm-related equipment like combined harvesters.
M&M, which accounts for a 42 % market share in tractor sales between its two brands of Mahindra and Swaraj, sold a little over 100,000 units in the April-September period. North India was showing a positive growth while there was a slowdown in the South due to the failure of monsoon during the kharif season.
(Sources: Business Standard, Economic Times, Indiatimes, Hindu Business Line, the Hindu)
'Economy to grow 5.9% in FY13'
India was expected to see a slower economic growth of 5.9 % in the current financial year, even as there are reasons to believe the “economy has turned the corner”, an United Nations agency report said on Thursday. It said India’s growth has been slowing down since 2011, mainly on account of “severe” monetary tightening by the Reserve Bank of India.
Projecting a GDP growth of 6.8 % for 2013-14, it said there are reasons to believe the economy has turned the corner.
(Sources: Business Standard, Economic Times, Indiatimes, Hindu Business Line, the Hindu)
M&M, SsangYong jointly developing three engines for global market
Auto major Mahindra & Mahindra today said it is developing three new engine platforms, along with its Korean subsidiary SsangYong Motor, which are likely to hit the roads in the next two-three years in markets across the world. Both companies are developing the engines keeping in mind India, South Korea and other markets around the world.
(Sources: Economic Times, Financial Express, Indiatimes, Times of India, Moneycontrol)
India Inc biz confidence slips due to global factors: Survey
The business confidence of India Inc has slipped due to short-term economic challenges like European debt turmoil and the US slowdown, a survey has said.
According to the Regus business confidence survey, Indian businesses' confidence index decreased 2 points (from 143 to 141) since April 2012.
The business confidence among India Inc has stalled as Asia's third largest economy is battling short-term economic challenges like European debt turmoil and the US slowdown, the survey said.
(Sources: Economic Times, Indiatimes, Hindu Business Line, Zeenews, i4u)
Economic Section
Royal Thai Embassy