CCFS2015

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Gujarat  Chamber of Commerce & Industry

Weekly E-News Letter

Issue No. 8/2015-16                                                            20th  August 2015,Thursday

Trade & Industry

Industrial profile of 652 districts ready: MSME Minister Kalraj Mishra Union Minister for MSME, Kalraj Mishra announced that his ministry has prepared industrial profile of 652 districts under the skill mapping project. These details would help new entrepreneurs to select the best location as per their business needs. The profile carries details like number of training institutes and engineering colleges in each district, availability of various raw materials and types of existing industries in that district. Read More No immediate plan for FDI in coffee, rubber plantation: Government The government has said there was no "immediate plan" to permit foreign direct investment in the country's coffee and rubber plantation sector. At present, 100 per cent foreign investment is permitted through the government approval route in the tea plantation sector. However, FDI is not allowed in any other plantation sector or activity. Read More Trade Deficit widens to $12.8 billion as exports drop With global demand not showing any signs of a pickup, India's merchandise exports contracted for the eighth month running in July, registering a 10.3% drop over last year. The trade deficit widened to $12.8 billion in July from $10.8 billion in June, data released by the ministry of commerce and industry showed. Imports fell 10.3% to $35.95 billion while exports came in at $23.1 billion. Read More Government clears FDI proposals worth Rs 10,379 crore The government has confirmed that it has cleared 23 foreign investment proposals, including that of Catholic Syrian Bank and Bandhan Financial Services, amounting to Rs 10,378.92 crore. Read More Gujarat facing tough competition on investment front: Official With neighboring Maharashtra bagging some big-ticket industrial projects, a top official of the Gujarat government said that the state is facing a tough competition in attracting investments, partly due to the expensive power. Arvind Agarwal, Additional Chief Secretary, Gujarat Industries and Mines Department, said it was "a matter of concern" that some major projects went to Maharashtra. Read More Impact Fee: Last Date Extended by 6 Months Gujarat CM has extended the last date to clear the applications regarding regularization of illegal constructions by 6 months. The cut off date is now 18th February, 2016. Read More Textile mills in Tamil Nadu to bring in cotton from Gujarat by ships In view of rising transportation costs for bringing in cotton by road from major growing states of Gujarat and Maharashtra, textile mills in the region have decided to bring the crop by ships to boost profit. This would bring down the transport cost initially to Rs 550-700 per bale (170 kg) as against Rs 850 for bringing by road Read More

Economic & Financial

Moody's cuts India's 2015 growth forecast to around 7 per cent Moody's Investors Service has cut India's growth estimate for the current year to around 7% from 7.5%, citing a below-average monsoon and concerns about reforms stalling, in apparent contradiction of the government's recent optimism and adding to pressure on the central bank to cut rates to improve consumer sentiment and shore up the economy. Read More India's food-grain output fell 4.66% in 2014-15 India's food-grain production is estimated to have declined 4.66% to 252.68 million tonnes (MT) in 2014-15 crop year due to poor monsoon and unseasonal rains in February-March. The country had registered a record food-grain production of 265.04 MT in 2013-14 crop year (July-June). Wheat, rice, coarse cereals and pulses are part of the food-grain basket. Read More July WPI prices fall 4.05%, ninth straight decline The Wholesale Price Index fell 4.05%, deepening the decline in wholesale prices which have now fallen for ninth straight months. In June, the index had dropped 2.4%. Retail inflation had moved at a benign pace of 3.8% in the past month. Read More July CPI plummets to 3.78%, June IIP hits four-month high at 3.8% Inflation based on the consumer price index (CPI) fell sharply in July to its lowest in the current series, strengthening the case for an interest rate cut soon, while the index of industrial production (IIP) climbed to a four-month high, adding to the evidence that growth was gathering pace. Data released showed industrial growth of 3.8% in June on the back of rising consumer goods production, suggesting improved consumer sentiment. Consumer inflation slowed to 3.78% in July, well below 5.4% in June. Read More

New Projects

Honda’s scooter plant in Gujarat to be operational by early 2016 Japanese auto giant Honda Motorcycle and Scooter India (HMSI) Pvt Ltd announced that its 'only scooter' manufacturing facility in Vithalapur in Mandal taluka will be operational by early 2016. Read More Tata’s PE arm boards Uber with $100m tab Tata Group's private equity arm, Tata Opportunities Fund, has invested around $80-100 million in taxi-hailing app Uber as part of a strategic partnership which will see the two entities work closely together to expand Uber's presence in India. Read More PEBS plans to raise Rs 156 crore through IPO PEBS plans to increase the manufacturing capacity of pre-engineered steel buildings by setting up a facility in Rajasthan or Gujarat, mainly to cater to the north Indian market. Read More

Science & Technology

Isro's commercial arm earns Rs 209 cr by launching 5 British satellites Indian Space Research Organization (Isro's) commercial arm Antrix Corporation earned Rs 209.41 crore by launching five British Satellites last month. The total value of the transaction agreement entered between Antrix Corporation Limited and DMC International Imaging (DMCii), a wholly owned subsidiary of Surrey Satellite Technology Limited (SSTL), UK for launch of 5 British Satellite's viz. DMC3-1, DMC3-2, DMC3-3, CBNT-1 and De-orbitsail, is 28 Million Euros (Rs 209.41 crore). Read More E-commerce generates $1.2 million revenue every 30 seconds: Study The global e-commerce industry generates over USD 1.2 million every 30 seconds, with major chunk of the sector's revenue being cornered through social media. The study report added that the maturity of social media and its reach across masses and classes makes it a suitable platform for online sales. Read More Citizens fight for net neutrality on mygov.in There are nearly 70,000 comments on the website with just a day to go before the end of the participative process and most of these seek unfettered and non-discriminatory access to the internet. "Telecom should not define policy. Net neutrality is any person being able to access anything on the internet without paying more or less for it. A byte of data should have the same price, regardless of whether it is a VoIP call, or a YouTube video. Read More Government allocated Rs 470 cr for GSLV Mk III launch An amount of Rs 470 crore has been allocated for the development of GSLV Mk III launch vehicle in the Twelfth Five Year Plan, said a senior Union Minister. Read More L&Tto make Lakshya for India's military, gets technology from DRDO Larsen and Toubro (L&T) has become the first Indian private firm to license technology of a full-scale system from Defence Research and Development Organization (DRDO) for Lakshya, the pilotless target system that will be sold to the armed forces. L&T will getthe technology for the digitalversion of Lakshya, an unmanned drone that is used by pilots to target practice from the fighter planes. Read More Government starts 'On-line On-Site' to aid persons with disabilities An online beneficiaries registration system, 'On-line On-Site', was launched to ensure transparency in schemes implemented by the ministry to provide assistive aids Persons with Disabilities. Read More

Environment

Government to spend Rs 14,000 crore to promote eco-friendly vehicles Government will spend Rs 14,000 crore to promote hybrid and electric vehicles in the country, Heavy Industries Minister Anant Geete said. He said the world was battling to conserve ecology and environment and the country needs to embrace newer technologies to promote ecological balance. Read More Monsoon deficit grows to 10% on poor August rains, raises drought fears Below-par rainfall across India for more than two weeks has pushed the monsoon deficit to 10% below normal, increasing worries of a second successive drought year in the country. Average all-India rainfall was 5% below normal at the beginning of August but had doubled by Independence Day due to rains remaining consistently below average during the fortnight. August so far has seen 17% below-normal rain. A shortfall of 10% or more for the entire monsoon season (June to September) is considered a drought year. Read More

Energy

Quietly, India is helping to build world's largest nuclear fusion reactor Near the banks of the Sabarmati, in the green city of Gandhinagar, a team of 122 scientists and engineers from across India is working silently on building some crucial nuclear components. These are meant to power the world’s largest nuclear reactor, coming up in the Cadarache province of southern France. Read More USAID to mobilize $41 million for clean energy projects in India USAID will soon mobilize $41 million (about Rs 268 crores) to finance clean energy projects in India, making off-grid power accessible to one million people. India Off-Grid Energy Summit PACE Setter Fund was launched of $8 million which aims to accelerate commercialization of innovation in off-grid clean energy solutions. The two nations have decided to set up the fund on 50:50 sharing basis. Read More

Notification

HONG KONG WORLD SME EXPO organized by Indian Chamber of Commerce on 03 to 05 December, 2015 Indian Chamber of Commerce with the support of Department of Commerce, Ministry of Commerce & Industry is participating in HKTDC World SME Expo at Hong Kong. This is a unique opportunity to present Indian products and services to Hong Kong, world market and network with Hong Kong, China and rest of Asia. Special benefits for GCCI members: 10 members of Gujarat Chamber of Commerce & industry (with IE Code) to join the delegation at the subsidized rate of Rs. 15000/- only (travel, accommodation, food extra) (Actual rate for display area at the SME Expo is Rs 58,500) Benefits include: •          Display are to display products and services and network with the industry •          Business Match Making services •          Individual listing of each company in the official Exposition Directory •          Networking with the companies across the globe Read More

Gujarat Chamber of Commerce & Industry Shri Ambica Mills - Gujarat Chamber Building, Ashram Road, Ahmedabad - 380009 Gujarat, INDIA Phone: 079-26582301/2/3/4 Email: bulletin@gujaratchamber.org Website: www.gujaratchamber.org