Indian Economy-News & Updates

[Nilgiri]

Thx for the continual updates here @lemurian

 

[lemurian]

https://www.cnbctv18.com/startup/ye...ed-1-billion-in-valuation-in-2018-1790451.htm

Year of unicorns: 8 Indian startups crossed $1 billion in valuation in 2018

2018 was a year of unicorns. India added eight unicorns to its kitty, the highest in a single calendar year. Swiggy, OYO, Paytm Mall, Udaan, Policy Bazaar, Zomato, Freshworks and Byju's were the eight startups that crossed $1 billion in valuation.

In the most recent example, Swiggy executed definitive agreements for a $1 billion funding round led by Naspers and saw new investors -- Tencent, Hillhouse Capital and Wellington Management Company coming on board.

The unicorns are also aiming at expanding footprints in the global market. OYO is currently in over 350 cities with over 12,000 asset partners spread across six countries including India, China, Malaysia, Nepal, the UK and UAE in the Middle East.

The company raised $800 million in its latest funding round led by SoftBank Investment Advisers (SBIA) along with the participation from existing investors - Lightspeed Venture Partners, Sequoia and Greenoaks Capital. The fundraising, the company said, is aimed to "strengthen its market position in its home markets - India and China - and support its international expansion plans".

 

[Nilgiri]

Pretty good news @hellfire @anant_s @lemurian :

https://timesofindia.indiatimes.com...s-doubles-this-year/articleshow/67264127.cms?

 

[lemurian]

https://www.zeebiz.com/india/news-r...ain-trial-in-freight-corridor-on-sunday-78053

Railways to conduct Heavy-haul train trial in freight corridor on Sunday

Expediting the much-delayed Dedicated Freight Corridor (DFC) project, the railways will conduct a trial run of a goods train on the newly-completed 306 km section between Madar (Ajmer) in Rajasthan and Kishangarh (Rewari) in Haryana in the western segment on Sunday.

This section is a vital alignment on the Delhi-Mumbai corridor and aims to augment the transportation capacity of freight, besides hugely reducing the load on the existing rail network that is congested with passenger and goods traffic.

Equipped for heavy-haul train operation with 25 tonne axle loads for the first time in the country, the section contains 15 major bridges and 271 minor bridges and 177 Road Under Bridges (RUB).

Currently, Indian trains haul a 22.5 tonne axle load while heavy-haul operations are carried out only in the US, Canada, Brazil, Australia, China, Russia, South Africa, Sweden and Norway. The 306 km route has six newly-built freight stations - Dabla, Bhagega, Sri Madhopur, Pachar Malikpur, Sakhun and Kishangarh and three junctions - Rewari, Ateli and Phulera.

The DFC project is crucial for Indian Railways as it faces stiff competition from the road sector for the movement of goods. The shifting of goods from roads to rail will also save precious fossil fuel which will be a boon for the environment.

The Rs 81,400 crore DFC project had got the Union Cabinet`s green signal way back in 2006 and has since missed several deadlines due to various reasons, including procedural wrangles, land acquisition and environmental clearances, among others. The earlier targeted completion of the project was 2016-17. It was shifted to 2017-18 and now has finally been set at March 2020. Admitting the delay in the past, a senior railway official invovlved in the project said: "Work is on in full swing now and we are hopeful of completing the project in 2020."

Stepping up its efforts, the DFC in November had completed the 194 km section from Bhadan to Khurja (in Uttar Pradesh) of the Eastern Dedicated Freight Corridor (EDFC).The Dedicated Freight Corridor Corporation (DFCC), a spcial purpose vehicle (SPV) has been formed for planning, constructing, operating and maintaining the exclusive corridors for the movement of goods.

While the Western DFC will cover 1,504 km from Jawaharlal Nehru Port Trust near Navi Mumbai to Dadri in Uttar Pradesh via Vadodara-Ahmedabad-Palanpur-Phulera-Rewari, the Eastern DFC covers 1,856 km from Ludhiana in Punjab to Dankuni, near Kolkata in West Bengal, and will traverse the states of Haryana, Uttar Pradesh, Bihar and Jharkhand.

The DFC, one of India`s largest rail infrastructure projects, is expected to be the grand future of the Indian economy with an increased number of freight trains in eastern and western sectors of the country. The Western DFC is being funded by Japan International Corporation Agency (JICA), while the Eastern DFC from Mughalsarai to Ludhiana is being funded by the World Bank.

 

[lemurian]

https://www.idnfinancials.com/n/216...-India-with-an-investment-of-Rp-5075-trillion

APP to build a paper mill in India with an investment of Rp 50.75 trillion

JAKARTA. Asia Pulp & Paper Group (APP), a company in Sinarmas Group will invest US$ 3.5 billion to build a paper mill with a capacity of 5 million per year in the Andhra Prakasam region, India.

This investment has become the largest foreign direct investment (FDI) in India in recent years. The investment value is equivalent to Rp 50.75 trillion, assuming the exchange rate of Rp 14,500 / US dollar.

Quoted from Times of India, the plant with a production capacity of up to 5 million tons per year will be built in Ramayapatnam, the coastal area of the Andhra Prakasam district on an area 2,500 hectares wide. With this production capacity, the company will produce packaging paper, speciality paper, writing and printing paper.

"An investment of US $ 3.5 billion is the largest FDI for the size of a new or greenfield project. This project will create 4,000 direct jobs and around 10,000 indirect workers, and profits for more than 50,000 timber workers," said the CEO of Andhra Pradesh Economic Development Board (APEDB) J Krishna Kishore as quoted by the Times of India.

Krishna said the laying of the first stone for the construction of the plant is expected to be carried out next week.

Asia Pulp & Paper is a company which is the holding company of PT Kertas Tjiwi Kimia Tbk (TKIM) and PT Indah Kiat Pulp and Paper Tbk (INKP). (AM/AR)

 

[Nilgiri]

https://www.idnfinancials.com/n/216...-India-with-an-investment-of-Rp-5075-trillion

APP to build a paper mill in India with an investment of Rp 50.75 trillion

JAKARTA. Asia Pulp & Paper Group (APP), a company in Sinarmas Group will invest US$ 3.5 billion to build a paper mill with a capacity of 5 million per year in the Andhra Prakasam region, India.

This investment has become the largest foreign direct investment (FDI) in India in recent years. The investment value is equivalent to Rp 50.75 trillion, assuming the exchange rate of Rp 14,500 / US dollar.

Quoted from Times of India, the plant with a production capacity of up to 5 million tons per year will be built in Ramayapatnam, the coastal area of the Andhra Prakasam district on an area 2,500 hectares wide. With this production capacity, the company will produce packaging paper, speciality paper, writing and printing paper.

"An investment of US $ 3.5 billion is the largest FDI for the size of a new or greenfield project. This project will create 4,000 direct jobs and around 10,000 indirect workers, and profits for more than 50,000 timber workers," said the CEO of Andhra Pradesh Economic Development Board (APEDB) J Krishna Kishore as quoted by the Times of India.

Krishna said the laying of the first stone for the construction of the plant is expected to be carried out next week.

Asia Pulp & Paper is a company which is the holding company of PT Kertas Tjiwi Kimia Tbk (TKIM) and PT Indah Kiat Pulp and Paper Tbk (INKP). (AM/AR)

@Indos @Marine Rouge @trishna_amṛta @Logam42 @Svantana

 

[lemurian]

https://indianexpress.com/article/s...on-india-in-bid-for-global-expansion-5526767/

FC Barcelona bets big on India in bid for global expansion

Football is slowly but surely getting traction in India and Barcelona see the world’s second most populous nation as a key part of their global expansion plans, the Spanish side’s Asia Pacific Director General Jordi Camps has told Reuters. Cricket-mad India, home to 1.3 billion people, is a massive underachiever as far as football is concerned and the country has yet to make a single appearance at the World Cup finals.

Access to better coaching has long been highlighted as one of the key elements needed for Indian football to develop, though hosting the FIFA under-17 World Cup in 2017 could prove to be a turning point in attracting youngsters to the game who would otherwise be heading to the local cricket academy.

A number of European clubs have come to India over the last few years to set up academies on a franchise basis in a bid to establish a foothold in a potentially huge market.

Barcelona have opened three centres in the country and Camps said they could prove a win-win for the La Liga side and India. “The growth of the Indian Super League and the success of the under-17 World Cup held in India in 2017 have been absolutely vital for the development of the sport in the country,” he said in an interview.

“Not only did it garner global coverage and engage young people of India, it also helped develop infrastructure, upskill personnel and transfer knowledge to a range of governmental organisations and businesses to help stage major footballing events. “We feel that we have a part to play in the growth of football in the country too.”

After China embarked on a multi-billion dollar mission to become a soccer superpower by 2050, India followed suit with its own plan to raise its status in the game to match its burgeoning economic power.

Described as a sleeping giant by former FIFA president Sepp Blatter, India launched a programme in 2016 to engage more than 11 million children in soccer-related activities in the leadup to hosting the U-17 World Cup. Barcelona have been in India with the Barca Academy since 2013 and say they have trained more than 25,000 young footballers through various programs. It has been rated as the top academy in India by the All India Football Federation.

“There seems to be a real interest and investment happening in grassroots football – with the AIFF grassroots program launch in October 2012,” Camps said. “This isn’t quite as ambitious as the growth proposed by President Xi (Jinping) in China, for example – but it’s certainly a strong initiative for increasing the popularity of the sport.

“Still, 95 percent of children taking up the sport still do so at the local football centre or ground – with unqualified coaches. With our Barca Academies, this is what we are aiming to change – structured, consistent and well defined programmes that promote the club’s working philosophy.”

Spain’s top-flight division, La Liga, also underlined the region’s importance by opening an office in New Delhi in September 2016. Last year, La Liga also announced a landmark deal with Facebook to allow viewers in the Indian sub-continent to watch every game over the next three seasons for free on the social network site.

Barcelona will host the Barca Academy Asia Pacific Cup 2019 at their Delhi facility, featuring over 500 players from six countries with ages ranging from under-nine to under-15, and Camps said they were always looking to grow the game in India.

“India is a key strategic market for FC Barcelona and we’re constantly looking at opportunities to further engage and interact with our fanbase – whether that’s through our academies, digital content or a first team tour,” he added. “In 2019, we’ll be in China and Japan and beyond that, let’s see.”

 

[Nike]

@Indos @Marine Rouge @trishna_amṛta @Logam42 @Svantana

The parent company is Sinar mas group, one of the largest conglomerate group business in Indonesia. Their usual business is investing in paper industry first, then come in properties business, then came their bank and hospital branch.

Wish they can get success in India as they much in China.

 

[trishna_amṛta]

JAKARTA. Asia Pulp & Paper Group (APP), a company in Sinarmas Group will invest US$ 3.5 billion to build a paper mill with a capacity of 5 million per year in the Andhra Prakasam region, India.

This investment has become the largest foreign direct investment (FDI) in India in recent years. The investment value is equivalent to Rp 50.75 trillion, assuming the exchange rate of Rp 14,500 / US dollar.

Asia Pulp & Paper is a company which is the holding company of PT Kertas Tjiwi Kimia Tbk (TKIM) and PT Indah Kiat Pulp and Paper Tbk (INKP). (AM/AR)

The main reason they invest outside Indonesia, is because Indonesia is running out of usable rainforest area. The remaining Indonesia rainforest has already become nature reserve, and even that is slated to be use as Geothermal power plant.

 

[lemurian]

The main reason they invest outside Indonesia, is because Indonesia is running out of usable rainforest area. The remaining Indonesia rainforest has already become nature reserve, and even that is slated to be use as Geothermal power plant.

Well, in Andhra region there are forestry plantations which grow mainly Pine and Subabul trees for such uses. As per press release, APP is planning to ink contracts with 60,000 such Farmers. Plus plenty of Agro waste is also utilized in the paper industry. I don't think actual forests will be utilized. Forests are statutorily protected in India too.

 

[Nike]

The main reason they invest outside Indonesia, is because Indonesia is running out of usable rainforest area. The remaining Indonesia rainforest has already become nature reserve, and even that is slated to be use as Geothermal power plant.

Well its miss conception, paper mill need short fibre barks to made good pulps hence they using acasia trees, meanwhile economically using hard and long fibre barks from rainforest type trees is not feasible and need more cost

 

[kmc_chacko]

Launch Of Train 18, India's Fastest, Stalled Over Internal Railways Feud: Report

NEW DELHI: The much-awaited launch of the indigenously-built Train-18 is stuck due to a bitter departmental fight within the Railways. It is still to get the full Boards green signal - a must for flagging off any new train.

The fight between two traditional rivals-- the electrical and mechanical wings of the Railways-- is so intense that despite a conditional clearance from the Chief Commissioner of Railway Safety (CCRS) on December 21, the Board is again planning to send it back to to the CCRS to resolve the contentious issue of the Electrical Inspector General (EIG) safety certificate.

While the mechanical department, which is at the forefront of the manufacturing of the Rs.100 crore Trainset, has maintained that an EIG certificate is not required as per the law, the electrical department is refusing to come on board without it.

Despite the fact that the first semi-high-speed train is expected to be flagged off by PM Modi on its maiden run to Varanasi, the issue could not be resolved as both sides stuck to their stands at the Railway Board meeting on January 8.

The result: The public transporter is considering referring the matter to the CCRS again, sources in the know told news agency IANS.

Manufactured at Chennai's Integral Coach Factory (ICF), the 16-coach train clocked 180 kmph during its trial run and was duly inspected by CCRS during its Safdarjung-Agra trial.

Before that, the Railways had already successfully conducted a speed trial of the Train-18 on the Moradabad and Kota sections under the watchful eyes of concerned officials from the Railways' and Research Design and Standards Organisation (RDSO).

In fact, ladoos were distributed when the train clocked 180 kmph between Kota and Kurlasi on December 2.

While giving its clearance for running the train at a maximum speed of 160 kmph, CCRS sought safety certification from the EIG and recommended, among other safety measures, sturdy fencing of the tracks at vulnerable locations.


"Safety certification for all electrical systems shall be done by EIG of the zonal railway maintaining the rolling stock and submitted to Commission before commercial operations," the CCRS order stated.

However, the mechanical department maintained that EIG certification is not required as per the Section 54 of the Indian Electricity Act, 2003.

In fact, the electrical and mechanical engineers were jointly involved in manufacturing the first Trainset at ICF and, accordingly, certified that the "train is safe for passengers and all norms have been followed".

"The Principal Chief Electrical Engineer of ICF has categorically certified the train's safety and no further safety certification is required from EIG as per the law," sources in the Railway Ministry told news agency IANS.

However, though electrical department has maintained that EIG is a must as desired by CCRS, the Board has powers to overrule the CCRS, as happened in the case of the Gatimaan Express's operation in April 2016.

Though CCRS had sought fencing of the track between Delhi and Agra before the commercial operation of Gatimaan Express, the Board went ahead with its launch.

The Railways could do the same this time too, but the fight is so bitter between the two traditional rivals that both sides are refusing to cede any ground, nothwithstanding the fact that it was hoped Train-18's commercial operation would start before the Kumbh Mela.

https://www.ndtv.com/india-news/tra...er-departmental-fight-within-railways-1974991

 

[lemurian]

 

[Nilgiri]

@anant_s @kmc_chacko @GeraltofRivia @bluesky @Peaceful Civilian @Water Car Engineer

 

[kmc_chacko]

@anant_s @kmc_chacko @GeraltofRivia @bluesky @Peaceful Civilian @Water Car Engineer

We are in process with GE & MCF.

But, RDSO is the bottleneck. RITES are the head heck. Incompetence is the only word i will say about both.