Indian Economy-News & Updates

[Hindustani78]

The first batch of coaches manufactured at the Integral Coach Factory were unveiled in Chennai. The coaches will be used by Kolkata Metro Rail. AP/PTI Photo

 

[Ryuzaki]

BSE MD & CEO throws numbers at Bloom skeptics

 

[lemurian]

http://www.livemint.com/Companies/j...-brand-MG-to-make-India-debut-production.html

China owned car brand MG to make India debut, production to kick off in Gujarat

MG Motors looks to launch its iconic MG (Morris Garages) brand vehicles by 2019 from manufacturing facility at Halol, Gujarat.

MG Motors India Ltd, the newly formed subsidiary of China’s largest auto maker SAIC Motor Corp. Ltd, is aiming to enter the Indian markets by taking over General Motors India’s manufacturing facility in Halol, Gujarat, from where it looks to launch its iconic MG (Morris Garages) brand vehicles by 2019.

For this, the company is looking to chalk out an India-centric strategy that will allow it to gain a foothold in a market where the US-headquartered General Motors Corp., SAIC Motor’s joint venture partner in China, could not.


http://www.livemint.com/Companies/v...nch-tech-fund-during-Narendra-Modi-visit.html

Israel, India launch tech fund during Narendra Modi visit
Israel India Innovation Initiative Fund, targeted at investments in tech start-ups, will see each government put $4 million a year for five years

Jerusalem/Bengaluru: Israel and India launched a five-year technology fund aimed at growing the countries’ business relationship, the way a similar fund has boosted the Jewish state’s ties with the US for the past 40 years.

The Israel India Innovation Initiative Fund, or I4F, was announced on Wednesday during an unprecedented visit to Israel by Indian Prime Minister Narendra Modi, who is looking for military and other technologies as his government seeks to procure cutting-edge weapons know-how and move the country aggressively into the digital age. Israel, whose export-focused economy relies heavily on technology, is eager to penetrate more deeply into India’s market of 1.3 billion citizens.

 

[lemurian]

http://www.livemint.com/Politics/tR...becomes-Indias-first-world-heritage-city.html

Ahmedabad is India’s first World Heritage City

UN cultural agency Unesco on Saturday declared the 600-year-old walled city of Ahmedabad as a world heritage city, the first Indian city to make it to the list. The World Heritage Committee of Unesco met in Karlow, Poland on Saturday night where the decision was made.

“Thrilled to announce! Ahmedabad has just been declared India’s first World Heritage city by Unesco,” tweeted Ruchira Kamboj, India’s permanent representative to Unesco.

...

 

[ranjeet]

https://twitter.com/x/status/885020095302561795

 

[lemurian]

https://www.forbes.com/sites/panosmourdoukoutas/2017/07/11/modis-india-beats-xis-china/#65c586a33415

Modi's India Beats Xi's China

India has been on the radar of different international agencies in recent days and has been getting high marks for its reforms and growth prospects—beating China.

Country risk monitoring agency Aon, for instance, is optimistic on India’s prospects. “India remains a relative bright spot in the region,” says Aon in its recent Political Risk Newsletter.“The government is moving towards implementing much-needed reforms and focusing on infrastructure in the current budget. These economic improvements offset the continued high level of political violence. The so-called demonetization process in November was not implemented very smoothly, but the impact seems to have faded and the economy is recovering. The ruling BJP has increased its share of vote’s preferences in various local elections, bolstering its position in the legislature. Although it is still well short of a majority, the government should be able to push through key reforms, which could bring some certainty for investors.”

Like the loosening of controls on foreign investment, reduction of export-import taxes, and the removal of price controls.

Meanwhile, Aon is less optimistic concerning China. “China’s tightening policy is set to be a strain on growth internally and abroad,” says Aon.“Domestically, the government remains focused on consolidating power; a trend that will persist in 2017 as the 19th National Congress of the Politburo approaches. The emphasis on a short-term growth strategy, including construction, has increased the economy’s reliance on credit and, as a consequence, the government is looking to tighten its economy policy. This strategy exposes greater economic volatility for 2017 as debt service costs increase and political grievances rise.”

Thus far in 2017, India is the world’s fourth fastest growing economy in the world, according to the World Bank’s latest edition of Global Economic Prospects. For 2017, India’s economy is expected to advance 7.2%, ahead of China’s 6.9 percent. That’s slightly above the country’s long-term growth. GDP Annual Growth Rate in India averaged 6.12% from 1951 until 2017, reaching an all time high of 11.40% in the first quarter of 2010 and a record low of -5.20% in the fourth quarter of 1979, according to Tradingeconomics.com.

While the Indian economy becomes bigger, it is becoming more competitive, too. For 2016-17, India scored 4.52 points out of 7, according to Global Competitiveness Report published by the World Economic Forum, slightly above its ten-year average of 4.33 points. That helped the country climb to rise to the position as the 39th most competitive nation in the world -- out of 138 countries ranked in the report.

Improved competitiveness, in turn, has helped narrow the country’s current account deficit to 0.70% of the country's Gross Domestic Product in 2016.

...

 

[IndoCarib]

India trumps Germany, UK to become the fourth largest auto market in the world
India sold more automobiles than Brazil and South Korea put together beating even Germany and the UK to emerge as the world’s fourth largest vehicle market

http://www.moneycontrol.com/news/bu...largest-auto-market-in-the-world-2322935.html

 

[wiseone2]

Look what the article said:

prasad sold at temples could figure on the exemption list.

How is prasad sold at temples?

Prasad is never sold at temples.

A lot temples sell them

 

[lemurian]

https://www.thequint.com/videos/2017/07/13/game-of-thrones-swords-india

Where Are GoT’s Swords Made? Why, Right Here in India!

At first look, the Windlass Steelcrafts factory cuts an imposing figure; sparks flying, machines roaring.

In a corner of Dehradun, we observed workers indulging in some deadly-looking activities, so we decided to investigate.

Upon entering, we discovered something completely unexpected; we saw a number of familiar costumes hanging about! Iron Man’s stunning armour, Thor’s hammer and Jon Snow and Ned Stark’s ensembles!

Was this a museum?!

No, it was a gold mine! I was in a factory that produces and exports equipment and steelcraft (as its name might suggest) for Hollywood flicks and TV shows!

The factory, Windlass Steelcrafts, is the official supplier of swords for Game of Thrones. So, how did they land such a great gig? Inside the factory, I met with Sarthak Gupta, the CEO of Windlass Online Stores.

"The factory started in 1943 employing only 50 workers. Back then, they produced ‘khukris’ for the Gorkha regiment of the British Army. The soldiers used the khukris to battle enemies in World War II."
Sarthak Gupta, CEO, Windlass Steelcrafts

They continue to supply equipment to the American, British and Spanish armies along with producing arms and armour for Hollywood productions.

Watch the video to see how the swords and armour is made!

 

[lemurian]

http://www.thehindubusinessline.com...-mm-e20-plus/article9766030.ece?homepage=true

Nagpur takes first step in embracing e-mobility

The city of oranges is now on a clean air drive. Outside Nagpur’s main railway station, a hoarding put up by a local automotive dealer urges prospective car buyers to test drive the Mahindra e2o Plus electric car.

Launched a few years ago, it did not make the impact because of high price tag and lack of charging infrastructure to an expensive battery, which was a deterrent for customers. The e2o Plus is now back and part of a grand plan to make Nagpur a pioneer in making electric vehicles (EVs) a way of life for theaam aadmi if a pilot that kicked off in June succeeds.

The results of this experiment will be watched carefully by the likes of NITI Aayog, the Centre’s think tank, that has drawn up 2032 as the deadline for all cars to be electrified. The Nagpur pilot can also be seen as supplementing the Centre’s ambitious solar energy plans, which again is a part of the overall cleanup exercise. For a country that barely has 1,200 days to transit to Bharat Stage VI emission norms, each of these experiments will bolster its green credentials considerably across the world.

Home to Nitin Gadkari, Road Transport and Highways Minister, Nagpur plans to radically alter its entire transport system. Officials at the Nagpur Municipal Corporation (NMC) says they want to do all they can to support the emerging electric revolution. In fact, approvals have just been given for a 40-seater electric bus that will operate from the airport to the heart of the city, a distance of 19 kilometres. The NMC is waiting for a charging station to be fully operational before services begin.

What has already been set in motion is the first phase of an e-vehicle project with Ola, the home-grown taxi aggregator that has joined hands with M&M to press into service the first tranche of 100 EVs. So far, 65 are on Nagpur’s roads and Ola is in the process of appointing drivers for the entire EV fleet.

What is unique about this eco-friendly experiment is the fact that the cab aggregator is playing a key role in establishing a viable charging infrastructure that can be used by both buses and taxis. Ola did not respond to mails seeking more details.

Changing lives
At the ground level, there are some interesting changes happening to people’s lives. For instance, 35-year-old Sunil Gurav has been driving his e20 Plus for just over two weeks and loves the excitement of this brand new phase in his life. He had moved to Nagpur from his native Nashik six years ago to expand his cut flowers business.

A year ago, Gurav had signed up with Ola and kicked off his new life on wheels with a Tata Bolt. “My flower business keeps me busy most mornings and I opted to join Ola to make use of my spare time,” he says. When the service provider asked him if he would like to be part of the e-vehicle project, Gurav jumped at the opportunity. In his view, an e-vehicle is good for the environment and “we can save our precious foreign exchange by cutting oil imports”.

Many of his customers are youngsters who like a clean vehicle accompanied by an entertainment system. Gurav did not have to make a down payment for the vehicle but forks out ₹25,000 every month to square up his dues. He targets making at least ₹1,000 everyday and has managed this without a fuss thus far.

Gurav is keen to be a part of Gadkari’s vision for Nagpur, which is to have 70 per cent of vehicles run on battery power. He says he was chosen for the EV project because of his good track record as an Ola driver. The Bolt, meanwhile, still continues with another driver that Gurav has employed while he zips around in his e20 Plus.

Towards a cleaner Nagpur
Moving on, NMC plans to enhance the number of ethanol-mix fuel buses in the city based on a successful pilot with a bus made by Scania India conducted a year ago. A minimal count of a 5-bus fleet is planned that can make about 50 trips a day.

Gadkari is categorical that EVs are top priority, and in Nagpur, the government’s ambitious plans also include e-rickshaws and bikes. Apart from M&M, companies such as Tata Motors and Kinetic will be part of its clean air drive.

The Nagpur pilot is the third major e-mobility project after the 2015 initiative, FAME, and the earlier National Mission on EVs aimed at having 6-7 million vehicles on India’s roads by 2020. Nagpur has a population of 26 lakh people and a vehicle population of 12.86 lakh as per an RTI report. The vehicular population includes over 10 lakh two-wheelers, one lakh cars, 30,000 jeeps and 8,000 autos with 35 vehicles added everyday, says the report.

Some years ago, the Nagpur Improvement Trust had prepared a 200-page draft document for a comprehensive restructuring of mobility options in the city. The EV project, once stabilised, can make a key contribution to the new mobility paradigm. If it does take off, it will represent a dramatic shift towards green cars in one of the world’s fastest growing car markets.

 

[lemurian]

http://www.thehindubusinessline.com...-with-solarpowered-coaches/article9768754.ece

Railways launches first DEMU train with solar-powered coaches

NEW DELHI, JULY 14:
The railways today launched its first solar-powered local train here with a battery bank facility which ensures sufficient power even in the absence of sunlight.

The entire electrical need of the coaches — lights, fans and information display system — will be met by energy produced by solar panels fitted on the roof of coaches of DEMU (diesel electric multiple unit) train.

Launching the train, Railways Minister Suresh Prabhu said it was a “path-breaking leap” towards making Indian trains more environment friendly.

Normally, DEMU trains — a multiple-unit train powered by on-board engines without a separate locomotive — provide power for its passenger comfort system i.e lights and fans from a diesel-driven generator.

The train was launched at the Safdarjung railway station here and the first rake will be put in commercial service over the suburban railway system of Delhi division shortly. Route will be decided soon, rail officials said.

While the 1,600 horsepower train has been manufactured at the Integral Coach Factory (ICF) in Chennai, its solar system and panels have been developed and fitted by the Indian Railways Organisation of Alternative Fuel (IROAF).

Twenty-four more coaches will be fitted with this system within six months.

 

[Turingsage]

By
Michael J Munoz
2017 M07 20 02:30 GMT+1
The Asian Development Bank raises Developing Asia’s 2017 growth forecast to 5.9% from 5.7% in its latest Outlook supplement. Inflation forecast cut to 2.6% from 3%.

• China 2017 GDP forecast raised to 6.7% from 6.5%; 2018 at 6.4%
  • Inflation cut to 2% from 2.4%; 2018 at 2.6%
• India 2017 GDP forecast maintained at 7.4%; 2018 at 7.6%
  • Inflation cut to 4% from 5.2%; 2018 at 4.6%

2017 2017 2018 2018 2016
REVISED PREVIOUS REVISED PREVIOUS ACTUAL
-------------- Annual GDP Growth --------------
Developing Asia 5.9% 5.7% 5.8% 5.7% 5.8%
Central Asia 3.2% 3.1% 3.8% 3.5% 2.1%
Kazakhstan 2.6% 2.4% 2.9% 2.2% 1.0%
East Asia 6.0% 5.8% 5.7% 5.6% 6.0%
China 6.7% 6.5% 6.4% 6.2% 6.7%
Hong Kong, China 2.0% 2.0% 2.1% 2.1% 1.9%
Korea, Rep. of 2.7% 2.5% 2.7% 2.7% 2.8%
Taipei, China 2.0% 1.8% 2.2% 2.2% 1.5%
South Asia 7.0% 7.0% 7.2% 7.2% 6.7%
India 7.4% 7.4% 7.6% 7.6% 7.1%
Southeast Asia 4.8% 4.8% 5.0% 5.0% 4.7%
Indonesia 5.1% 5.1% 5.3% 5.3% 5.0%
Malaysia 4.7% 4.4% 4.6% 4.6% 4.2%
Philippines 6.5% 6.4% 6.7% 6.6% 6.9%
Singapore 2.4% 2.2% 2.5% 2.3% 2.0%
Thailand 3.5% 3.5% 3.6% 3.6% 3.2%
Vietnam 6.5% 6.5% 6.7% 6.7% 6.2%
The Pacific 2.9% 2.9% 3.3% 3.3% 2.6%
----------- Annual Inflation Growth -----------
Developing Asia 2.6% 3.0% 3.0% 3.2% 2.5%
Central Asia 8.1% 7.8% 7.4% 7.3% 11.0%
Kazakhstan 8.0% 8.0% 7.0% 7.0% 14.6%
East Asia 1.9% 2.3% 2.4% 2.6% 1.9%
China 2.0% 2.4% 2.6% 2.8% 2.0%
Hong Kong, China 2.0% 2.0% 2.1% 2.1% 2.4%
Korea, Rep. of 1.8% 1.7% 1.8% 1.8% 1.0%
Taipei, China 1.1% 1.3% 1.2% 1.2% 1.4%
South Asia 4.2% 5.2% 4.7% 5.4% 4.5%
India 4.0% 5.2% 4.6% 5.4% 4.5%
Southeast Asia 3.3% 3.3% 3.4% 3.5% 2.1%
Indonesia 4.3% 4.3% 4.5% 4.5% 3.5%
Malaysia 4.0% 3.3% 2.7% 2.7% 2.1%
Philippines 3.5% 3.5% 3.7% 3.7% 1.8%
Singapore 1.1% 1.0% 1.5% 1.5% -0.5%
Thailand 1.2% 1.8% 1.6% 2.0% 0.2%
Vietnam 4.0% 4.0% 5.0% 5.0% 2.7%
The Pacific 5.4% 5.2% 5.4% 5.4% 4.6%
Note 1: Developing Asia refers to 45 members of the Asian Development Bank.

Note 2: Central Asia comprises Armenia, Azerbaijan, Georgia, Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan.

Note 3: East Asia comprises the People’s Republic of China; Hong Kong, China; the Republic of Korea; Mongolia; and Taipei, China.

Note 4: South Asia comprises Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan, and Sri Lanka.

Note 5: Southeast Asia comprises Brunei Darussalam, Cambodia, Indonesia, the Lao People’s Democratic Republic, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Viet Nam.

Note 6: The Pacific comprises the Cook Islands, Fiji, Kiribati, the Marshall Islands, the Federated States of Micronesia, Nauru, Papua New Guinea, Palau, Samoa, Solomon Islands, Timor-Leste, Tonga, Tuvalu, and Vanuatu.

Source: Asian Development Outlook 2017 supplement
https://www.bloomberg.com/view/articles/2017-07-20/china-s-buying-spree-ends-badly

 

[anant_s]

Three consortia led by Alstom, Siemens and Stadler Bussnang eye Rs 2,000 crore coach factory project

NEW DELHI: Three consortia led by multinational transportation giants Alstom, Siemens and Stadler Bussnang AG are in the race to set up an electric rail coach factory in West Bengal.

The proposed rail coach factory that would produce coaches with aircraft-type interiors is expected to come up on railway land in Kanchrapara near Kolkata on a public-private partnership basis and will involve a total investment of Rs 2,000 crore.

This is the second-largest tranche of foreign direct investment (FDI) in the rail sector under the government's 'Make in India' initiative. The first major FDI in railways came in 2015 when projects to set up two locomotive factories were awarded at a total cost of Rs 3,300 crore.

The three consortia - Siemens-Bombardier Transportation, CRRC Corporation of China-Alstom Transport (@AndrewJin ) and Stadler Bussang AG (Switzerland)-Medha Servo Drives - have already been shortlisted by the Indian Railways, a top railway official said.

The government will own 26% in the joint venture. The final bidding will take place in December, the official said.

The selected bidder would be required to manufacture and supply train sets comprising of nearly 5,000 electric rail cars over a period of 12 years and undertake their maintenance for another 13 years.


The trains, fully made of stainless steel, would have automatic door closing facilities, CCTV cameras and LED lighting.

"These trains would have a new generation propulsion system that would regenerate almost 40% of the power leading to savings in energy bills," the official said. "Seating arrangements of the coaches that would be fully air-conditioned would be modified to increase passenger carrying capacity."

According to the railways, the factory would produce rolling stock worth Rs 50,000 crore in 12 years and would help railways save almost Rs 10,000 crore, compared to the imported value of these coaches.

The project is part of the modernisation drive of Indian Railways.

http://economictimes.indiatimes.com...oach-factory-project/articleshow/59690248.cms


Notes:
This project is for High speed Electrical multiple Units, having seating accommodation initially.
These units employ IGBT based Three phase traction electronics.
In long term, such Trainsets will replace trains like Day time Intercity and Jan Shatabdi expresses (having seating only accommodation).
This technology shall also eliminate or replace most of diesel traction for passenger services on electrified routes.
India plans to electrify almost 90% of its BG network by 2030.

@Nilgiri @Abingdonboy @gslv mk3 @Rain Man @nair

 

[anant_s]

In a first, free water, toilets at Lucknow Metro stations

Highlights

• Lucknow Metro stations will be the first in the country to provide free drinking water and toilet facility to commuters at all 21 metro stations of the North-South metro corridor.
• The stations will have a kiosk providing purified, chilled water to commuters free.

LUCKNOW: Lucknow Metro stations will be the first in the country to provide free drinking water to commuters at all 21 metro stations of the North-South metro corridor. The stations will have a kiosk providing purified, chilled water to commuters free. Lucknow Metro Rail Corporation (LMRC) is also going to provide free toilet facility at each of its stations.

No other metro project in country has offered the facilities free so far. An official said, "We are building three toilets each for men and women and one seat for physically challenged persons at all 21 metro stations. These will be available only for commuters who pay using token or the Go-Smart card."

The drinking water kiosk and toilet facilities will be available at the concourse level (above ground floor) which is accessible only after buying tokens to enter the paid area of the metro stations. An official told TOI, "Other metro stations earn revenue from these facilities but we will give these services to public free." The idea drew appreciation from 'Metro Man' E Sreedharan who came to inspect Lucknow Metro, recently.

To prevent littering on the stations' premises, LMRC will not keep disposable glasses or bottles near the kiosk and commuters will have to bring own bottles for refill. Officials said, "It will be an environment-conscious project, so we will discourage use of plastic at our stations."

Lucknow Metro is expecting commissioner of metro railway safety (CMRS) to inspect the depot and Lucknow Metro corridor around month-end and accordingly aims to begin commercial run of trains on priority section of 8.5km by mid-August.

http://timesofindia.indiatimes.com/...bia&utm_medium=OrganicNative&utm_campaign=CTN

 

[Abingdonboy]

Three consortia led by Alstom, Siemens and Stadler Bussnang eye Rs 2,000 crore coach factory project

NEW DELHI: Three consortia led by multinational transportation giants Alstom, Siemens and Stadler Bussnang AG are in the race to set up an electric rail coach factory in West Bengal.

The proposed rail coach factory that would produce coaches with aircraft-type interiors is expected to come up on railway land in Kanchrapara near Kolkata on a public-private partnership basis and will involve a total investment of Rs 2,000 crore.

This is the second-largest tranche of foreign direct investment (FDI) in the rail sector under the government's 'Make in India' initiative. The first major FDI in railways came in 2015 when projects to set up two locomotive factories were awarded at a total cost of Rs 3,300 crore.

The three consortia - Siemens-Bombardier Transportation, CRRC Corporation of China-Alstom Transport (@AndrewJin ) and Stadler Bussang AG (Switzerland)-Medha Servo Drives - have already been shortlisted by the Indian Railways, a top railway official said.

The government will own 26% in the joint venture. The final bidding will take place in December, the official said.

The selected bidder would be required to manufacture and supply train sets comprising of nearly 5,000 electric rail cars over a period of 12 years and undertake their maintenance for another 13 years.


The trains, fully made of stainless steel, would have automatic door closing facilities, CCTV cameras and LED lighting.

"These trains would have a new generation propulsion system that would regenerate almost 40% of the power leading to savings in energy bills," the official said. "Seating arrangements of the coaches that would be fully air-conditioned would be modified to increase passenger carrying capacity."

According to the railways, the factory would produce rolling stock worth Rs 50,000 crore in 12 years and would help railways save almost Rs 10,000 crore, compared to the imported value of these coaches.

The project is part of the modernisation drive of Indian Railways.

http://economictimes.indiatimes.com...oach-factory-project/articleshow/59690248.cms


Notes:
This project is for High speed Electrical multiple Units, having seating accommodation initially.
These units employ IGBT based Three phase traction electronics.
In long term, such Trainsets will replace trains like Day time Intercity and Jan Shatabdi expresses (having seating only accommodation).
This technology shall also eliminate or replace most of diesel traction for passenger services on electrified routes.
India plans to electrify almost 90% of its BG network by 2030.

@Nilgiri @Abingdonboy @gslv mk3 @Rain Man @nair

Any ideas what products are on offer from each OEM bro?