Weekly News 04 - 08 September 2023
4 September 2023 - (Economic Times) Warehousing company NDR buys land across cities, plans infrastructure investment Trust.[1]
NDR Warehousing, one of the largest warehousing operators in India, has acquired around 2 million square feet of land across major cities as it looks to raise money through an infrastructure investment Trust (InvIT).
The acquired land is located in Aurangabad, Uluberia (West Bengal), Hosur (Tamil Nadu), and Verna Industrial (Goa). "The total cost of development, including land, amounts to approximately ₹500 crore, and all payments have been completed with the land being duly registered. The company is also in discussions with both global and domestic partners about securing long-term capital. We anticipate finalising the transaction by October this year," stated Krishnan S Iyer, CEO, NDR InvIT.
In May this year, Investcorp, a global investment manager specialising in alternative investments, completed a follow-on investment of₹500 crore (approximately $60.8 million) in NDR Warehousing (NDR). This comes after Investcorp led a $55-million investment round in NDR Warehousing last year. "We are witnessing strong interest from both international and domestic funds for a pre-invIT round, seeking patient, long-term capital to fuel our growth," said N Amrutesh Reddy, MD, NDR Warehousing.
5 September 2023 - (Economic Times) Institutional investments in alternatives cross $2 bn in 5 years: Colliers.[2]
Foreign investors have been leading the way in investing in alternative assets in India, with cumulative investments of around $2 billion in the last 4-5 years. These investments accounted for 78% of the total, as investors looked for new markets and opportunities to diversify their portfolios. Data centers have been particularly popular, attracting $1 billion in institutional inflows and accounting for 51% of total investments in alternatives. The strong growth in data consumption and promising returns have made them an attractive option for investors.
5 September 2023 - (India Shipping News) India’s port connectivity gets booster shot, Nhava Sheva in Mumbai to now connect with Vietnam and Saudi Arabia.[3]
India's maritime connectivity is set to improve significantly as Thai shipping company Regional Container Lines (RCL) upgrades its service, linking major hubs in Southeast Asia, India, and the Gulf countries, including Saudi Arabia's King Abdulaziz Port. This enhancement is expected to boost trade and economic activities in the region.
The extended route will strengthen India's integration with both Southeast Asian and Gulf markets, facilitating trade activities in the post-COVID era. Additionally, India's plans to increase cargo handling capacity by 300% by 2047 make enhanced maritime connectivity with key hubs essential for its economic growth.
6 September 2023 - (Economic Times) Aim to make India a refuelling hub for green ships: RK Singh[4]
The government is aiming to make India a refuelling hub for green ships backed by its target of producing the cheapest green hydrogen, ammonia and methanol in the world, power and renewable energy minister RK Singh said on Tuesday.
"The shipping world will go green. Just give it 5-7 years or 10 years. We have to be prepared for it and emerge as the refueling destination for all the green ships," Singh said at an event. "That's our ambition because India can provide green hydrogen, ammonia or methanol at the cheapest cost." For this, the country needs to have its own pilot projects for green shipping, Singh added.
Discussion with the shipping ministry on the matter is ongoing and the ministries will convene a meeting to push it further, he said.
The minister said that the government will come out with a pilot project for green hydrogen and green ammonia storage for round the clock renewable energy. India has the potential to be one of the biggest manufacturers of green hydrogen in the world because of a huge ecosystem of renewable energy, Singh said.
7 September 2023 - (Economic Times) Trade pacts with G20 member countries can help India boost exports: CII EXIM panel chairman[5]
Negotiating trade pacts with certain G20 countries and diversifying exports to regions like Brazil and Mexico could help India boost outbound shipments and manufacturing in the years to come, Chairman, CII national committee on EXIM, Sanjay Budhia, said on Wednesday. He said that tapping into opportunities in G20 countries is crucial for India's economic growth and global influence.
India should diversify its export markets within the G20 countries, Budhia, who is also Managing Director of Patton Group, said.
He added that while traditional partners like the United States and the European Union remain important, exploring emerging markets within the G20, such as Brazil, South Africa, Indonesia, and Mexico, can open up new avenues for Indian goods and services.
8 September 2023 - ( ) ETMarkets Smart Talk: Hosting of G20 Summit is testimony of India’s economic prowess: Sanjay Chawla.[6]
"FPIs have withdrawn over US$ 17bn in CY2023. On a YTD CY2024, they have already invested US$15bn in India. Investments coming to India since international investors believe they can make better returns in India. On the macro front, India continues to be one of the fastest-growing major economies in the World for the 3rd year in row."
[1] https://economictimes.indiatimes.com/industry/services/property-/-cstruction/warehousing-company-ndr-buys-land-across-cities-plans-infrastructure-investment-trust/articleshow/103332645.cms?from=mdr
[2] https://economictimes.indiatimes.com/news/economy/indicators/institutional-investments-in-alternatives-cross-2-0-bn-in-5-years-colliers/articleshow/103380089.cms
[3] https://indiashippingnews.com/indias-port-connectivity-gets-booster-shot-nhava-sheva-in-mumbai-to-now-connect-with-vietnam-and-saudi-arabia/
[4] https://economictimes.indiatimes.com/industry/renewables/aim-to-make-india-a-refuelling-hub-for-green-ships-rk-singh/articleshow/103405882.cms
[5] https://retail.economictimes.indiatimes.com/news/industry/trade-pacts-with-g20-member-countries-can-help-india-boost-exports-cii-exim-panel-chairman/103461081#:~:text=New%20Delhi%3A%20Negotiating%20trade%20pacts,Sanjay%20Budhia%2C%20said%20on%20Wednesday.
[6] https://economictimes.indiatimes.com/markets/expert-view/etmarkets-smart-talk-hosting-of-g20-summit-is-testimony-of-indias-economic-prowess-sanjay-chawla/articleshow/103472877.cms
