Districts to be export units, looking at logistics ministry: Suresh Prabhu

The Union Commerce Ministry has decided to make the country's districts as the operative unit as part of a revamped strategy for boosting exports that would incentivise the states, and has asked them to appoint nodal officers at district level towards this end, Commerce Minister Suresh Prabhu said on Monday.

Briefing reporters here following a meeting of the Council for Trade Deve

TOT projects pose high refinancing risk, says India Ratings and Research

India Ratings and Research (Ind-Ra) opined that bidders for toll-operate-transfer (TOT) projects may find it difficult to tie-up debt, as the debt tenor in India is typically 10-15 years. Also, such projects pose a huge refinancing risk, as the initial concession period is 30 years. Furthermore, with such long concession period, the initial estimated concession value (IECV) is bulky, requiring

GVKPIL signs deal for Navi Mumbai international airport

The GVK Power & Infrastructure Ltd (GVKPIL) on Monday signed the Concession Agreement with City and Industrial Development Corporation for the upcoming Rs 16,000-crore Navi Mumbai International project here, an official said.

The agreement was signed through the creation of a special purpose vehicle -- Navi Mumbai International Airport Pvt Ltd (NMIAL) -- with CIDCO, the nodal auth

Bharat Net Phase-2 may be complete before schedule by December

The government expressed hope that the second phase of Bharat Net project to provide broadband connectivity to 1.5 lakh gram panchayats will be completed before time by December this year, reported PTI. Telecom Minister Manoj Sinha said financial incentives and disincentives should be built into clauses for the second phase of the project to reward players for on time delivery. Under Phase-I, o

SEBI seeks new tax rule for hedge funds: Bloomberg

 India's market regulator has recommended a unit-based tax system for hedge funds as part of its proposals for next month's federal budget, Bloomberg reported on Monday, citing people familiar with the matter.

The proposal, if approved, would make the country's equity hedge fund investors eligible for capital-gains tax exemptions after one year, Bloomberg said. https:

Railways to use drones for monitoring, rescue operations

 The Railways on Monday said it has decided to deploy drone cameras for monitoring projects and activities of relief and rescue operation.

"Indian Railways has decided to deploy drone cameras (UAV/NETRA) for various railway activities, especially monitoring and maintenance of tracks and other rail infrastructure," the Railways Ministry said in a statement.

It

Listed SMEs to touch 1,000 in next 2 yrs: Merchant banker

The number of small and medium enterprises listed on BSE and NSE platforms is expected to reach 1,000 in the next two years from nearly 350 at present, leading merchant banker Guiness Corporate Advisory Services said today. More companies will tap the initial public offer (IPO) route for business expansion plans, to support working capital requirements and other general corporate purposes. In t

Government planning to decongest Delhi with major projects: Minister

Union minister Nitin Gadkari has said that major projects entailing an investment of Rs 31,930 crore are in the pipeline to decongest the national capital, including development of the Dwarka Expressway at a cost of Rs 6,000 crore. Commenting on the issue, Road Transport and Highways Minister Gadkari told the media, “The initiatives, some of which are progressing fast, are in line with th

DoT to meet telcos, regulator on call drops on January 10

Concerned about the deteriorating call drop situation, the Department of Telecom (DoT) will meet service providers on January 10 to discuss the burning issue as also the new service quality norms that have been implemented in the sector. "We want to convey to the operators, the government's concerns on state of call drops. Service providers have to get their act together,"Telecom

Kejriwal launches common card for Metro, buses

Chief Minister Arvind Kejriwal on Monday launched a pilot 'Delhi Common Mobility Card' which will enable commuters to travel in both Delhi Metro and 250 select city buses.

The Delhi govenrment aims to shift to a 'Common Mobility Card' which could be used to travel in Metro and all Delhi Transport Corporation (DTC) and cluster buses by April 1.

Under the pilot

AIBOC raises concerns over imposition of PCA on lenders

Bank officers' union AIBOC has questioned imposition of prompt corrective action (PCA) by the Reserve Bank on some public sector banks and said these lenders are already "feeling the heat", reported PTI. "Banks which have been placed under restrictions by the RBI to improve their financials have already started feeling the heat, as their deposit growth has fallen below the in

All stations to be equipped with Wi-Fi facilities: Official

The Indian Government has said that all railway stations nearly 8,500 across the country, including those in rural and remote areas will be equipped with Wi-Fi facilities at an estimated cost of Rs 700 crore. As part of the government's ambitious Digital India initiative, the national transporter has currently commissioned Wi-Fi services at 216 major stations enabling about seven million ra

Next-Gen software key growth enabler for Indian businesses: Survey

 For an overwhelming 97 per cent of Indian businesses, adopting Next-Gen software solutions is the key to driving growth and expansion while 92 per cent of them stated that software is important for them to create new products or services to enter new markets, a survey said on Monday.

According to the leading software company CA Technologies' "Modern Software Factory&quo

ASSOCHAM seeks closure of coal-based industries in NCR

Apex industry body ASSOCHAM has sought Union Government's intervention vis-à-vis recommendations of a CPCB-led taskforce on closure of all coal-based industries operating in Delhi-NCR for a fortnight from January 15 to contain air pollution during the upcoming ASEAN summit. “While combating air pollution is important as it poses grave threat to human health, complying industria

Skilling enterprises, start-up developers key to India`s digital dream: IBM

 With digital transformation comes the daunting task of preparing a workforce for technologies like Big Data, Cloud, Artificial Intelligence (AI) and Internet of Things (IoT) that can address the massive demand coming from governments and businesses in India.

According to a top IBM executive, the time is ripe to start the journey right from schools and universities, leading to up

Why consumers still hesitate on shopping online via smartphones

Most consumers still avoid shopping online via mobile apps as they often worry they are not seeing the full picture or that they could be missing out on special offers or overlooking hidden costs, according to new research.

Concerns about privacy and security can also motivate people to put items into their shopping baskets but then quit without paying, observed the team from Universi

RBI to sell State Government sec worth Rs 11,000 cr on January 9

The Reserve Bank of India on Friday said that it will sell State Governments security by way of auction for an aggregate amount of Rs 11,000 crore. “The auction will be conducted on the Reserve Bank of India Core banking Solution (E-Kuber) system on January 09, 2018,” RBI said in a press release. The Government Stock up to 10 per cent of the notified amount of the sale of each of th

Railway revenue from passenger traffic up 5%: Official

The Indian railways has said that the revenue of the railways from both passenger traffic as well as freight movement has gone up by more than five and eight per cent respectively between April-December 2017 as compared to the same period previous year. Commenting on the issue, a senior official of the railway board told the media, “The revenue from passenger fare rose to Rs 37,134 crore

Major ports record 3.64% growth in cargo traffic: Reports

As per official data, the country's 12 major ports recorded a 3.64 per cent growth in cargo traffic during April-December 2017 at 499.41 million tonnes (MT). As per reports, eight major ports -- Kolkata (including Haldia), Paradip, Visakhapatnam, Chennai, Cochin, New Mangalore, JNPT and Kandla -- registered positive growth in traffic during the period.

Commenting on the issue, a M

CIL annual production target kept at 630 MT in FY-19: Minister

The Indian Government has said that the annual production target of state-owned CIL has been kept at 630 million tonnes (MT) for the upcoming fiscal. Commenting on the issue, Coal Minister Piyush Goyal told the media, "As per Annual Plan proposal for 2018-19, the production target of CIL (Coal IndiaBSE 0.34 %) has been kept at 630 MT (million tonnes) with five per cent growth over the targ

Industry body urges government to check rising iron ore prices

The rising prices of iron ore in past two-three months has pushed up sponge iron rates by 25 per cent to Rs 24,000 a tonne, an industry body said while seeking immediate government intervention, reported PTI. Iron ore is one of the main raw materials used to produce sponge iron. The other is non-coking coal. "Sponge iron in West Bengal, Chhattisgarh and Odisha where most of the sponge iron

Government to connect railways with Asian countries: Rajen Gohain

The Indian Government has said that it is planning to connect the Indian Railways with Asian countries for effective implementation of the Act East Policy. Commenting on the issue, Union Minister Rajen Gohain told the media, “The North Eastern Region is being connected with neighbouring Bangladesh through the Agartala-Akhaura rail line, and survey was underway in Manipur for extension of

TRAI`s views on ICT solutions for differently-abled by June

Regulator TRAI will by the middle of this year recommend measures to make telecom and broadcasting services more accessible for the differently- abled, its Chairman R S Sharma has said as per the PTI report. Sharma said service providers and other stakeholders must respond to the Telecom Regulatory Authority of India's (TRAI) recent discussion paper on the issue with constructive suggestion

Equity MFs inflow at record Rs 1.3 trn in 2017 over low bank deposit rates

Investors pumped in a record Rs 1.3 trillion in equity mutual funds in 2017 on the back of low bank deposit rates and lackluster performance of gold and real estate. The strong inflows pushed the asset base of equity MFs to Rs 7.7 trillion last year from Rs 4.7 trillion in 2016, latest data from the Association of Mutual Funds in India (Amfi) showed.

Fund houses attributed the strong

Government hopeful of higher GVA in agriculture sector in 2017-18

Following release of the Advance Estimate (AEs) of GDP and GVA for the economy for 2017-18, the Ministry of Agriculture and Farmers' Welfare on Sunday said that the agriculture sector is estimated to register a higher GVA in the next financial year.

As per data released by the Central Statistics Office, the GVA of 'Agriculture, Forestry and Fishing' index for 2017-18 was e