World Trade Centre to be set up in Chandigarh

Chandigarh: New York-based World Trade Centre Association (WTCA), part of the global network of WTCs across the globe - covering New York, Dubai, Chicago, Amsterdam and 320 other locations - will establish a WTC Chandigarh to connect Indian MSMEs with their international counterparts across industry domains.

This was announced by Eric Dahl, CEO, World Trade Centre Association, in Chandigarh recently during an interaction with industry members at the PHD Chamber.

Addressing the industrialists, Dahl said, "WTC Chandigarh will be developed as a Grade A+ state-of-the-art facility encompassing office spaces, conference facilities, auditorium, retail and exhibition area."

WTC Chandigarh will ensure that the legacy of entrepreneurship in Punjab is taken forward by connecting MSMEs to their international counterparts across industry domains. Also on offer will be a venture accelerator centre (V@C) to support a large start-up segment in the state. This will be achieved in conjunction with various trade bodies and chambers of commerce already operating in the region, especially the PHD Chamber of Commerce and Industry, added Dahl.

Calling it a step towards empowering the large entrepreneur base in Punjab, Dalip Sharma, regional director, PHD Chamber of Commerce and Industry, committed his organisation's support in the effort to promote trade and business in Punjab and the northern region.

"The timing of the announcement to establish WTC Chandigarh could not have been more apt, when Punjab is gearing up to hold its first-ever Investment Promotion Summit on December 9-10. The two-day event will host business heads and representatives of more than 2,000 companies from across the country and even abroad," said Sharma. "Together, these will help bring in lots of investment to Punjab."

WTCs across the world are known as symbols of growth and prosperity serving the local region. Each WTC connects its tenants, members and partners to the rest of the globe through this trade network. SMEs, start-ups and corporates have all benefited by this reciprocity.

"We propose to establish WTC Chandigarh in association with Spire, a leading infrastructure developer from Delhi NCR, while the local partner in the project is IFM," said Dahl.

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Three MSMEs to receive Rs 42 crore from UK govt

The companies receiving the UK Samridhi funds are Glocal Healthcare System (Rs 24.6 cr), Gramco Infratech (Rs 14.7 cr) and Shikhar Dairy (Rs 1.9 cr)
New Delhi: Three Indian MSMEs will receive £4.2 million (Rs 42.38 crore) from the United Kingdom's Department for International Development (DFID) for expansion of their businesses, which are related directly or indirectly to the lives of poor people.

The companies receiving the UK Samridhi funds are Glocal Healthcare System (Rs 24.6 crore), Gramco Infratech (Rs 14.7 crore) and Shikhar Dairy (Rs 1.9 crore), according to the website of the Federation of Indian Small, Micro and Medium Enterprises (FISME).

Through the Rs 400 crore (£40m) Samridhi Fund, DFID will extend support to the businesses which directly affect the poor as producers, consumers or workers, over seven years, across eight low-income Indian states.

DFID, in association with the Small Industries Development Bank of India (Sidbi), has envisaged the creation of the Samridhi Fund to provide capital to social enterprises that can deliver both financial and social returns, in Bihar, Uttar Pradesh, Madhya Pradesh, Odisha, Chhattisgarh, Jharkhand, Rajasthan and West Bengal.

The primary focus of the fund is to invest in the MSME sector and provide financial assistance to companies that have projects with a developmental impact. The fund, managed by Sidbi Venture Capital, is the first in India to focus on development projects in low-income states.

Glocal Healthcare System will use the money to operate a chain of affordable hospitals benefitting 1.2 million rural patients in low-income states by 2020; Gramco Infratech will build agricultural warehouses to provide storage and value added services to more than 3,000 farmers every season in MP; and Shikhar Dairy will set up a professionally managed dairy that will allow 300 landless rural poor to own cows and a dairy in the Jhansi district of UP.

Funding for three other businesses in India is being finalised and is to be announced shortly.

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Indo-Japan trade set to grow further

Hyderabad: Indo-Japan bilateral trade is set for further growth with increased focus on areas such as agriculture, food processing and bio-technology, according to Masaki Takaoka, deputy mayor of Miyoshi City.

Indo-Japan bilateral trade reached $ 18.61 billion last fiscal against $18.43 billion in the previous year, he said at a seminar on ‘Business Opportunities in Agriculture in Japan’, organised by the Federation of Andhra Pradesh Chamber of Commerce ad Industries here today.

Exports
India’s exports to Japan were $6.1 billion and imports from Japan were $12.51 billion, he said, adding that India’s primary exports to Japan were petroleum products, iron ore, gems and jewellery, marine products, oil meals, ferroalloys and inorganic/organic chemicals.

India’s primary imports from Japan have been machinery, transport equipment, iron and steel, electronic goods, organic chemicals and machine tools.

“Japanese FDI into India has increased to $2,786 million in 2012, showing an increase of 19.8 per cent over the previous year,” he pointed out.

Takaoka said: “Japan is the largest bilateral donor to India. Japanese Official Development Assistance has been supporting India’s efforts for accelerated economic development particularly in the infrastructure sector. Cumulative commitment of ODA till March 2013 reached ¥3807.763 billion on commitment basis.”

The Japanese delegation included Katsuaki Hirata, Chairman and Director of Hirata Farm, Rama Bhadra, President, ASA Bhanu Japan Centre, Tsuyoshi Uesugi, Advisor of Miyoshi International Relations Association, Takayoshi Takehara, Deputy Chairman, Miyoshi City Council, Hiroyuki Kohmura, Associate Professor, Faculty of Life and Environmental Science, Hiroshima Prefectural University, Toshihiro Tominoi, Executive Director, Japan Agricultural Cooperative and Kosho Toyoshima Manager, Industrial Development Department, Miyoshi city.

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IIMC and Queensland University of Technology sign International Cooperation Agreement for training & capacity building

New Delhi: Indian Institute of Mass Communication (IIMC), New Delhi and Queensland University of Technology (QUT), Brisbane, Australia have signed an an International Cooperation Agreement to collaborate in academic programmes and in frontier areas of research in Media and Communication. The agreement was signed by Shri Bimal Julka, IIMC Chairman and Secretary I&B Ministry and Prof. Peter Coaldrake, Vice Chancellor, Queensland University of Technology here today.

The agreement envisages bringing ICT in academic programmes in a significant way. Both the institutes have agreed for the development of joint venture projects and also for opening avenues for developing a collaborative doctoral programme to benefit students and faculty. The bilateral cooperation agreement also envisages organization of joint academic and scientific activities, such as courses, conferences, seminars, symposia or lectures, exchange of staff and students and exchange of materials and publications of common interest.

One of the core areas of the agreement is to facilitate Training of senior and mid-level Indian Information Service officers at the Queensland University of Technology (QUT), especially in use of modern technology and social media for providing information about government policies to stakeholders. The objective is to ensure skill development of IIS officers in critical areas of the changing media landscape.

This is the first agreement signed by IIMC seeking international collaboration and partnership with a foreign university. The agreement aims to facilitate a two-way value added training and capacity building programme in the field of Mass Media & Communication.

This cooperation agreement shall be valid for five (5) years from the date of signing. It shall be reviewed six (6) months prior to expiry and may be renewed for a further term by mutual agreement.

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BHEL bags Rs 2,500-cr contract from Neyveli Lignite

New Delhi: Bharat Heavy Electricals Ltd (BHEL) has bagged its first order in the power business sector for the current fiscal. The power sector constitutes 80 per cent of the public sector company’s total business. The company has bagged a Rs 2,569-crore contract for supplying steam generator package to Neyveli Lignite for two thermal units of 500 MW each. These machines will be set up for the 1,000-MW thermal power project in Neyveli, Tamil Nadu. This order was bagged amidst stiff international competitive bidding. This development comes at a time when the performance of eight core industrial sectors recorded a growth of eight per cent in September. In the past, Neyveli placed orders to BHEL for its 2x500 MW Tuticorin, 2x250 MW Neyveli and 2x125 MW Barsingsar projects, all after international competitive bidding. “With this order, the customer has reposed confidence in the company’s technological excellence as also its capability in executing power projects of this magnitude,” a statement issued by BHEL said. As on June 30, 2013, the company’s order book was around Rs 1.08 lakh crore. It got total orders worth Rs 31,650 crore in 2012-13, an increase of 43 per cent.

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IL&FS Engg bags Rs 675-cr deal

Hyderabad: IL&FS Engineering and Construction Company Ltd has received a letter of award from Neelkamal Realtor Tower Pvt Ltd for the construction of ‘Orchid Heights’, a residential project at Byculla in Mumbai.

The Rs 675-crore contract, for two high-rise buildings, is to be completed in 39 months. With this project, IL&FS will make its entry into the Mumbai construction arena.

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Uttar Pradesh government gets investment proposals worth Rs 9,608 crores

Lucknow: The efforts of the Uttar Pradesh government to attract investments have started bearing some fruits, with the state getting fresh investments in the industrial sector to the tune of Rs 9,600 crores since April 2012. This is apart from the investment which is coming in real estate, construction, power plants, PSU's, roads and expressway projects.

The Infrastructure and Industrial Development Commissioner, Alok Ranjan said that investments worth Rs 1,519 crores has already been made by various groups and another Rs 8,089 crores is under various stages of implementation. Together the total investment would amount to Rs 9,608 crores.

Among those who have made fresh investments are Godfrey Phillips in Meerut, Wave Industries in Saharanpur, Superhouse Ltd in Noida, DCM Shriram in Meerut, Parle Agro in Ghaziabad, Ultratech Cement, Shahi Exports, Moser Baer Solar.

Alok Ranjan said that two big investment proposals of Rs 900 crores are also on the verge of being finalised.

Sampraksh group proposes to invest Rs 700 crores in Kanpur Dehat to set up a food processing plant.

PTC Industries has also submitted a proposal to invest Rs 200 crores to set up a manufacturing unit at Lucknow.

Managing Director, PTC Industries, Sachin Agarwal said that they have already tied up funds and arranged land for setting up the unit and are waiting for the go ahead from the government. PTC Industries would manufacture components for super critical applications in power plants, turbines, ships, nuclear plants etc. Agarwal said that it would be world class modern plant which will be set up in Lucknow and most of the components manufactured would be exported.

He said that they were confident of setting up of the plant within two years and have already arranged 20 acresof land for the project.

Apart from these projects, the Akhilesh Yadav government is in the final stages of setting up of an IT Park in Lucknow for which several leading names have shown interest. The government is also taking steps towards awarding the Lucknow-Agra Expressway contract.

At the recently held CII Invest North 2013 in August at New Delhi, the government had also received preliminary proposals for setting up projects worth Rs 22,000 crores in diverse sectors like consumer goods, solar power, auto parts, sewage treatment plant and education. Alok Ranjan said that these projects were also being fastracked and the concerned groups have been asked to submit detailed project reports.

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