Tamil Nadu to ink pacts for $ 3.9 billion worth projects
Indo Rama, Hyundai Motors and US-based PPG with Harsha Group of industries are among the 12 major companies that have proposed total investments of $ 3.9 billion in Tamil Nadu to provide 36,855 direct and indirect jobs in the state.
The state government will sign MoUs with these companies on November 5 in line with its ambitious "Vision 2023" document unveiled earlier this year to enable the state achieve a 11 % growth in Gross State Domestic Product (GSDP) by 2023.
(Sources: Business Standard, Economic Times, the Hindu, Hindu Business Line, Indiatimes)
Country's coal output up by 8.19 pc in H1 of FY 13: Government
India produced 240.32 million tonnes of coal in the first half of the current fiscal year, up 8.19 % from a year earlier, figures provided by a government official showed, but the output was 95 % below target.
Coal production typically slows during the monsoon months of June to September and the first half output is 41.6 % of India's estimated production of 578.10 million tonnes for the 2012/13 fiscal year.
(Sources: Economic Times. Indiatimes, Zeenews, IBNLive, i4u, Worldnews)
Car maker Volkswagen to set up India engine assembly plant by 2015
Volkswagen AG will build an engine assembly plant in India by 2015, a senior official said on Thursday, as the German automaker looks to boost its lacklustre sales in Asia's third-largest economy.
The company also plans to invest $78 million in its India business next year on localisation of components and to boost export potential from the country, said John Chacko, managing director of Volkswagen India.
(Sources: Economic Times. Indiatimes, Business Standard, Business World, Moneycontrol)
October manufacturing PMI rises, offers hope of economic revival
India's manufacturing activity remained steady in October but a pick up in new orders offered hope of a revival in coming months, according to a private sector survey of purchasing managers.
"Economic activity in the sector picked up slightly thanks to firm new orders," Leif Eskesen, chief economist for India and ASEAN at HSBC, said in a release. This is in line with the trend of revival in production ahead of Diwali when factory output traditionally increases.
(Sources: Economic Times. Indiatimes, Livemint, Moneycontrol, Zeenews, IBNLive, i4u)
India to become second largest steel producer soon: Steel Min
Riding on expansion plans of steel majors, including Rashtriya Ispat Nigam (RINL) and Steel Authority of India (SAIL), India will soon become the second largest steel producer in the world, the government said yesterday.
India slipped one rank to become the fourth largest steel producer in 2010, with 68.3 million tonne (MT) of output.
China is the number one producer of steel, followed by Japan and the US at second and third places, respectively.
(Sources: Economic Times, Indiatimes, i4u, Hindu Business Line, Zeenews)
World Economic Forum meeting on India to begins on November 6
Corporate honchos, policy-makers along with civil society members will participate in a three-day summit on India organised by World Economic Forum (WEF) at Gurgaon from November 6.
The theme for this year's event, to be held between 6th to 8th November is titled 'From Deliberation to Transformation'. About 600 participants including big corporate leaders Sunil Bharti Mittal, Rahul Bajaj, Tulsi Tanti, Adi Godrej and Kris Gopalakrishnan are expected to participate.
The WEF Asia Head and Senior Director Sushant Palakurthi Rao said that the focus of the summit would be mainly on issues related to governance, corruption, economic growth and building investors' confidence.
(Sources: Economic Times, Business Today, Press Trust of India, Hindu Business Line)
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