Search Result for : Jharkhand

The Dollar Business Bureau To drive digital transformation in Jharkhand, the US-based technology major Oracle Corporation signed a pact on Monday with the state government and said that the company has not set any targets for investments in technology. Safra A Catz, CEO of Oracle Corporation, who is on a 3-day visit to India said Oracle technologies are bound to drive digitization in the country, the second largest base of the company after the US. Catz hoped the recent pact with the Jharkhand government, and a similar agreement with the government of Maharashtra in 2016, would set a course for partnerships with other states. “The investment is unbounded. We have not bound the investments in any way...we have not put a cap on it,” ...

By Ranjeet Mahtani and Stella Joseph Rates The slab rates for goods has been formulated by the GST Council in November of 2016, as a five-tier rate structure – of 0%, 5%, 12%, 18% and 28% - besides which some products will attract cesses. Rates for services have till date not been officially announced, even while there was wide-spread belief that a two-tier rate structure – 12% and 18% - will be adopted. The Revenue Secretary earlier this week indicated that there would be two slab rates for services, since not all services can be classified within the standard rate of 18%. He also indicated that industries such as transportation may face a lower tax rate since presently they enjoy abatement under ...

The Dollar Business Bureau Inida's first waterways project received a financial backing of $375 million from international lender World Bank. The project is meant to create inland waterway for transportation between Haldia and Varanasi, on the 1,360-km stretch of the Ganges river. The loan sanctioned by World Bank covers 45% cost of the project, being undertaken under the Jal Marg Vikas scheme by the Shipping Ministry. The proposed project will facilitate navigation of commercial vessels with a capacity of 1,500-2,000 deadweight tonnage (DWT). Serving the industries on the banks of river Ganga, the new waterway will pass through four states namely Bihar, West Bengal, Jharkhand, and Uttar Pradesh. The industrial cities of Ghazipur, Bhagalpur, Kolkata, Howrah, Patna, Haldia, Allahabad and Varanasi will immensely benefit from this initiative. The development of National Waterway 1 (NW1) will also provide a good ...

The Dollar Business Bureau JSW Steel on Thursday said the company is planning to spend up to $1 billion (about Rs.6,500 crore) a year on its capacity expansion and acquisitions.  Sajjan Jindal-led company is also looking to bid for two iron ore mines in Odisha and coking coal mines in Jharkhand in the upcoming auctions, JSW Steel Joint MD and Group CFO Seshagiri Rao said: “We are capable of spending up to $1 billion per annum without increasing debt on capacity expansion and acquisitions.”   Rao confirmed that the company is working at its expansion plans, by bidding aggressively for iron ore mines and coal mine auctions later this year. Replying to a query on whether JSW Steel would bid for all the five coking ...

The Dollar Business Bureau The state government of Jharkhand and Microsoft India on Friday signed a Memorandum of Understanding (MoU) to leverage cloud technology in order to drive the digital ambitions of the state. This MoU will support the government of Jharkhand to explore cloud, mobile-based solutions and machine learning to improve people services and offer better facilities in the areas of agriculture and education, according to a statement by Microsoft India. The pact was inked at the Momentum Jharkhand Global Investors Summit held between February 16–17, 2017 in Ranchi.  The state government has been utilising modern IT infrastructure to deliver citizen services and for driving technology-led schemes such as Digital India and Skill India. The MoU will support the government to access the finest ...

PTI Investment proposals worth nearly Rs.3 lakh crore would be signed with different companies during the February 16/17 Global Investment Summit (GIS) in Ranchi, a top Jharkhand government official said. Several companies have evinced interest and during the GIS many MoUs would be signed, Jharkhand Chief Secretary Rajbala Verma said, according to an official release here. The government’s effort would be to sign as many MoUs as possible and bring more and more investors to Jharkhand, she said. The Chief Secretary said that liaison officers would be there to inform about Jharkhand to the participating investors or delegates, it said. Taking stock of the preparations at the Khelgaon, Verma said she was fully satisfied with the preparations.

The Dollar Business Bureau  Prime Minister Narendra Modi will address the Global Investor Summit via video conferencing on February 16, Raghubar Das, the Chief Minister of Jharkhand told reporters during media briefing. The Global Summit, which will be held on February 16-17, is being organised by the Jharkhand state government to improve per capita income, gross domestic product (GDP) and growth rate of the state, Das said. Well-known industrialists and teams from Australia and China will take part in the two-day summit, he added. The Chief Minister had said on Monday that Japan, Tunisia, Czech Republic and Mongolia would be the partner countries at the summit and around 2,500 delegates from all over the world are expected to attend the event, with 12- 15 central ministers and 40 industrialists gracing the summit. An ...

The Dollar Business Bureau  In a new reward to Jharkhand's efforts for garnering foreign investments, Japan voiced its interest in the mineral rich state. Masayuki Taga, Consulate General of Japan, called on Jharkhand Chief Minister Raghubar Das and said that his country was keen on investing in Jharkhand.  The state of Jharkhand, formed in 2000, overflows with immense untapped potential in the form of its mineral-rich land. Home to 40% of India's mineral wealth, the state has aspirational plans of mimicking the success story of Gujarat and Maharashtra in attracting foreign investment.  In the recent years, CM Das has unfolded many measures to make the state business friendly, including a single window clearance scheme. The Global Investor Summit to be held in Ranchi on 16-17 February 2017 is Jharkhand's version of the Vibrant Gujarat Global Summit. ...