Search Result for : Tamil Nadu

The Dollar Business Bureau Bike maker Royal Enfield began its commercial production in its third plant in India at the industrial estate of Vallam Vadgal, near Chennai. This facility near Chennai spanning over 50 acres, is the third one in Tamilnadu for the company. The bikes manufactured in this unit will cater to the domestic and international markets, a company press release said. With this the total production capacity of all the 3 plants in India could reach 8.25 lakh units in FY18 the release added. In FY 17 Royal Enfield manufactured and sold 6,67,135 motorcycles, nearing its installed capacity. According to the release, in 2017-18 the company has earmarked Rs 800 crore as investment for capacity expansion at Vallam Vadgal, new products and ...

The Dollar Business Bureau  The Ministry of Commerce has set timelines for the state governments of Andhra Pradesh, Tamil Nadu and Maharashtra to complete modalities and export procedure for Red Sanders wood.  Andhra Pradesh has been given time till April 30, 2019, whereas Tamil Nadu and Maharashtra have been allowed till August 31, 2018, for finalising the modalities and completion of the export process of this wood.  “Time upto August 31, 2018 has been allowed to the governments of Maharashtra and Tamil Nadu to finalise the modalities and complete the process of export of respective allocated quantity of Red Sanders Wood,” the Directorate General of Foreign Trade (DGFT) has said in a notification (No.08/2015-2020) issued on Tuesday.  Time till April 30, next year has ...

Sreenivasa Rao Dasari  The devastating impact of cyclone Vardah has badly hit the export performance of auto component manufacturers and the aqua sector in Tamil Nadu. Chennai is also known as the Detroit of Asia as it accounts for over 60% of the country’s automobile exports. Though Vardah did not affect the aqua units as they are located far from Chennai, it badly impacted the container movement as floods disrupted the activity at the port. The Federation of Indian Export Organisations (FIEO) urged the Centre and the Tamil Nadu governments to take a holistic approach in order to minimise the impact of natural calamities on the industry and export logistics.  After the floods that affected the city last year, Chennai was limping ...

Sheela Mamidenna J. Jayalalithaa, the able and charismatic Chief Minister of Tamil Nadu, passed away on December 5 while undergoing treatment at Chennai. Known for her acumen as a keen administrator, shrewd politician and an erudite speaker, Jayalalithaa took on the development of the state of Tamil Nadu on a war footing with an iron hand. She realised early on in her career that people wanted an able administrator who would take care of all their needs and she listened to them. By offering freebies and massive subsidies, Jayalalithaa or 'Amma' as she was fondly called became the darling of her people. Among the most ambitious of her projects was the power generation and supply project. Power generation and supply Tamil Nadu, once power-surplus, literally ...

The Dollar Business Bureau Software exports from Tamil Nadu grew 10-12% to reach Rs.95,000 crore in the financial year 2015-16, the state Finance Minister O Panneerselvam said on Thursday. "Chennai has become a hub for IT and ITeS. Over 50 multi-national companies are having their global facilities in Chennai. Software exports have grown steadily at around 10-12% per annum and are expected to have touched Rs 95,000 crore in 2015-16," Panneerselvam said. Presenting the state budget for the fiscal 2016-17, the State finance minister underscored that the government has been committed to providing adequate support for the growth of information technology (IT) and IT-enabled industry. Companies such as HCL Technologies, Honeywell, Syntel Ltd. and Zoho Corporation were keen on establishing their set-ups in Southern Tamil Nadu. On ...

The Dollar Business Bureau Tamil Nadu has attracted huge investments worth more than $4 billion from US firms in various sectors including automobiles, textiles and pharmaceutical sectors. This was revealed by the Tamil Nadu Industries Minister M C Sampath during a conference hosted by the Indo-American Chamber of Commerce in Chennai on Tuesday. The minister said that the US and the state of Tamil Nadu share good trade relations. Around 250 US business firms have their presence in this state providing direct employment to over 1.75 lakh people and indirect employment to more than 2.50 lakh people. The state is one among the top three industrial states in India, contributing 11% of the total industrial production in the country. Stating further he said ...

The Dollar Business Bureau The government of India has increased the size of the buffer stock of pulses by more than 5 times to 8 lakh tonnes for this year as they seek to sell lentils at a lower rate for the relief of the customers. This decision was taken at a high-level meeting which was chaired by the Finance Minister Arun Jaitley. It was also decided to import pulses from Myanmar and African countries to increase the stock.  Despite several measures taken to increase the supply of pulses in the last couple of months, the prices of pulses are ruling in the market for over Rs.170 per kg. Ram Vilas Paswan, Union Food Minister, Radha Mohan Singh, Agriculture Minister, M Venkaiah Naidu, Urban ...

The Dollar Business Bureau Besides venturing into new markets and introducing a children’s wear segment, hosiery maker Dollar Industries is aiming for Rs.1,000 crore revenue in FY17. The Kolkata-based company’s Joint Managing Director Binay Kumar Gupta, stated that the company is eyeing for whopping turnover of Rs.1,000 crore and is even planning to expand its presence in India with special focus towards south Indian customers. In FY16, the company registered a total revenue of Rs.829.94 crore. Indicating strong growth of the company, the total revenue generated by the company in FY15 was Rs.730 crore. Gupta revealed that Dollar Industries has 15% share in the Rs.10,000 crore in the Indian organised knitwear industry. In the coming two years, Dollar is planning to introduce children’s wear. Apart from ...