Search Result for : Infrastructure

The Dollar Business Bureau The Government has granted infrastructure status to the logistics sector, which covers warehousing and cold chain facilities, a step that would to attract more investment at remunerative rates for these segments.  “The Logistics Sector has been granted Infrastructure status. It will enable the Logistics Sector to avail infrastructure lending at easier terms with enhanced limits, access to larger amounts of funds as External Commercial Borrowings (ECB), access to longer tenor funds from insurance companies and pension funds and be eligible to borrow from India Infrastructure Financing Company Limited (IIFCL),” Finance Ministry said in a statement on Monday.   Due to the higher cost of logistics in India as compared to developed nations, the need has been felt for the ...

By Abin Daya The Government is working to improve the ‘ease of doing business’ ranking of the country, and one of the areas of focus is the time it takes for manufacturers to get their imported raw materials and components, out of the port and into their factories. The numbers are not very encouraging, and it currently takes about 9-10 days to get a container out of the port and on its way to the manufacturer. With a view to improving this, the Direct Port Delivery arrangement was started in 2016. How is it faring? Please read on in this week’s update. The most important story of this week, definitely, is the 25 bps cut that the Monetary Policy Committee permitted on ...

The Dollar Business Bureau The first meeting of the Japan-India Coordination Forum (JICF) for Development of North-Eastern Region was held at Delhi. This is a part of the Indo-Japan strategy to contain China’s marauding moves in the region. The JICF is being set up to focus on connectivity, road development, especially inter-State roads and major district roads, disaster management, food processing, organic farming, and tourism. The Secretary, Ministry of Development of North-Eastern Region (DoNER), Naveen Verma led the Indian side while the Japanese delegation was led by the Japanese Ambassador to India, Kenji Hiramatsu. Senior Officers of the Ministry of Home Affairs, External Affairs, Department of Economic Affairs, and line Ministries of Government of India including Road Transport & Highways, Agriculture, Power ...

The Dollar Business Bureau The Global Infrastructure Hub, a G20 initiative, released a report titled, ‘Global Infrastructure Outlook’ in which it says, India will need investments of around $2.5 trillion by 2040 in order to develop the infrastructure needed to improve the country’s economic growth and wellbeing of the community. The infrastructure investment need of $4.5 trillion will make India the second largest infrastructure market after China. Detailing that rising income levels and economic prosperity is likely to drive significant demand for infrastructure investment in India for the next 25 years, the report said. If the sustainable development goals are to be accounted, the country is predicted to need an additional $888 billion by 2030 to provide basic infrastructural needs like electricity and water. ...

The Dollar Business Bureau India’s trade with African nations is expected to reach $117 billion by 2020-21 in the wake of improved economic relations and strong business opportunities, as per a report. From $24 billion in 2015-16, India’s exports to the African countries are likely to touch $70 billion by 2021-22, on account of rising complementaries, said industry body PHD Chamber of Commerce and Industry (PHDCCI) in a report. Imports from the African continent are also likely to rise to $47 billion in the next five years from $27 billion in 2015-16, the report said. PHD Chamber President Gopal Jiwarajka said, “India has been able to intensify its presence in African countries through a significant line a credit worth $10 billion for development projects in Africa over a five-year period.” “With continuous expansion in trade, widening ...

By Abin Daya The power sector in India is one which has been classified as a ‘negative’ industry by a number of lenders due to the woes surrounding ailing thermal power producers. However, the renewable energy segment was always looked upon favourably due to the phenomenal growth exhibited in the past few years. This segment too might be going through a period of change as we see in this week’s update. While wind energy might be looking at a period of slow growth, changes in duty structures are what the solar power generators might have to encounter. On the infrastructure side, some good news for developers who have been trying to avail financing for projects under the Hybrid Annuity Model. While lenders ...

The Dollar Business Bureau India has plans to have an open sky agreement with the nations, which are within the radius of 5,000 km, said Oman Air Chief Executive Officer (CEO) Paul Gregorowitsch on Thursday. An open sky agreement refers to an agreement between two nations to allow each other airlines to have an unlimited number of flights, seats, etc between the two countries. “If the current policy of the Indian Government is to also consider an open sky (agreement) for those destinations which are within 5,000 kilometres materialises, in the next two years, then it will automatically (provide us) a more level environment,” said Gregorowitsch, while briefing a media round table in New Delhi. He was confident that the measure could be put ...

The Dollar Business Bureau In order to create a proper logistics environment and seamless movement of traffic in the country, Ministry of Railways is focussing more to improve the railways infrastructure and also to speed-up the pace of infrastructure development, said Railways Minister Suresh Prabhu on Thursday.  “Railway Ministry is focussing more on improving the infrastructure of Indian Railways to create a proper logistics and seamless movement of traffic,” said Prabhu at an event organised by ASSOCHAM in New Delhi. “Therefore, we have decided to create an infrastructure at much faster pace. Already we are creating infrastructure twice to speed than previous year and will increase every year,” he added.   Citing the Ministry’s achievement, Prabhu said that his ministry has sanctioned around 16,500 ...