Archive for ‘India alert’

25/02/2014

EDF-Backed Acme Starts 25-Megawatt Solar Plant in India – Businessweek

Acme Solar Energy Ltd., backed by Electricite de France SA’s renewable unit, started generating power from a 25-megawatt solar plant in central India.

Map of India showing location of Madhya Pradesh

Map of India showing location of Madhya Pradesh (Photo credit: Wikipedia)

The completion of the project in Khilchipur, Madhya Pradesh state, more than doubles Acme Solar’s photovoltaic holdings to 43 megawatts, the company said by e-mail.

The developer, a venture between EDF Energies Nouvelles, Luxembourg-based Eren Groupe SA and India’s Acme Group, plans to jointly develop 200 megawatts of solar capacity.

via EDF-Backed Acme Starts 25-Megawatt Solar Plant in India – Businessweek.

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25/02/2014

Indian E-Commerce to Become $8 Billion Industry – India Real Time – WSJ

The outlook for India’s economy may be gloomy for now, but one sector looks set to boom: online retail.

As more and more Indians use the internet, revenues of e-commerce companies could triple over the next three years to 504 billion rupees ($8.13 billion), according to Crisil Research, a unit of division of Mumbai-based ratings firm Crisil Ltd.

There are around 200 million internet users in India currently and the number could grow to 500 million by 2015, according to consulting firm McKinsey & Co.

Over the last few years, dozens of websites have been launched in India to sell everything from books and appliances, to baby care products and flight tickets.

Online retail companies earned revenues of around 139 billion rupees ($2.24 billion) in the financial year that ended on March 31, 2013, according to the Crisil report. Though this is just 0.5% of the total revenues of brick-and-mortar retail companies, online retail sales have been growing much faster.

Revenue of e-commerce firms grew by 56% annually between the financial year that ended March 31, 2008, and the year ended March 31, 2013, according to Crisil.

The scope for growth in this sector has already attracted a lot of interest from venture capital investors.

Earlier this month, online retailer Jabong.com raised around $100 million from CDC Group PLC, a U.K. government-backed private-equity fund-of-funds that invests in some emerging markets, according to The Economic Times.

Clothing and accessories-seller Myntra.com also raised $50 million, this month.

Foreign companies have also been looking to get a piece of the action in India. Amazon.com Inc. launched its India website in June.

via Report: Indian E-Commerce to Become $8 Billion Industry – India Real Time – WSJ.

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23/02/2014

After farmers commit suicide, debts fall on their families – The Times of India

Latha Reddy Musukula was making tea on a recent morning when she spotted the money lenders walking down the dirt path toward her house. They came in a phalanx of 15 men, by her estimate. She knew their faces, because they had walked down the path before.

After each visit, her husband, a farmer named Veera Reddy, sank deeper into silence, frozen by some terror he would not explain. Three times he cut his wrists. He tied a noose to a tree, relenting when the family surrounded him, weeping. In the end he waited until Musukula stepped out, and then he hanged himself from a pipe supporting their roof, leaving a careful list of each debt he owed to each money lender. She learned the full sum then: 400,000 rupees, or $6,430.

A current of dread runs through this farmland, where women in jewel-colored saris bend their backs over watery terraces of rice. In Andhra Pradesh, the southern state where Musukula lives, the suicide rate among farmers is nearly three times the national average; since 1995, the number of suicides by India’s farmers has passed 290,000, according to the national crime records bureau, though the statistics do not specify the reason for the act.

India’s small farmers, once the country’s economic backbone and most reliable vote bank, are increasingly being left behind. With global competition and rising costs cutting into their lean profits, their ranks are dwindling, as is their contribution to the gross domestic product. If rural voters once made their plight into front-page news around election time, this year the large parties are jockeying for the votes of the urban middle class, and the farmers’ voices are all but silent.

Even death is a stopgap solution, when farmers like Reddy take their own lives, their debts pass from husband to widow, from father to children. Musukula is now trying to scrape a living from the four acres that defeated her husband. Around her she sees a country transformed by economic growth, full of opportunities to break out of poverty, if only her son or daughter could grasp one.

via After farmers commit suicide, debts fall on their families – The Times of India.

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23/02/2014

India’s Modi Talks Tough on China – India Real Time – WSJ

The frontrunner to become India’s next prime minister traveled to a town near the country’s disputed Himalayan border with China over the weekend and bluntly warned Beijing to abandon its territorial ambitions.

In a sign of rising Indian wariness of its northern neighbor, Hindu nationalist opposition leader Narendra Modi said China “will have to leave behind its mindset of expansion” and said Beijing should work for “development and prosperity.”

For Mr. Modi, the Bharatiya Janata Party’s candidate for the premiership in upcoming national elections, it was a rare foray into foreign policy on the campaign trail, where he has focused primarily on a weak domestic economy.

Speaking in Pasighat, a town in India’s northeast Arunachal Pradesh state, and again in Assam near India’s border with Bangladesh, Mr. Modi sought to portray himself as strong on defense and unafraid of other regional powers.

“No power on earth can snatch away Arunachal Pradesh from India,” Mr. Modi said.

India’s next leader will inherit a volatile neighborhood.

In addition to a more assertive and well-armed China, which is looking to play a greater role in South Asia and the Indian Ocean, New Delhi also must deal with the fallout of a diminishing U.S. troop presence in Afghanistan.

Security experts warn that reduced Western presence there could fuel Islamic militancy along India’s already troubled border with Pakistan. Bangladesh and Sri Lanka have been gripped by internal political tensions.

via India’s Modi Talks Tough on China – India Real Time – WSJ.

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21/02/2014

Who Is WhatsApp’s Neeraj Arora? – India Real Time – WSJ

Another renowned alumnus of IIT!  See https://sites.google.com/site/123iitphysics/iitalumni

“As jaws dropped across the globe at the amount Facebook paid to acquire messaging company WhatsApp on Thursday, the media in India was quick to credit the deal to Neeraj Arora, an Indian who describes himself on his website as “all things business at WhatsApp!”

Mr. Arora is the vice-president of business development for the messaging service.

He studied mechanical engineering at one of the country’s most prestigious education establishments, the Indian Institute of Technology in New Delhi, and received his Masters in Business Administration from the Indian School of Business in 2006, made the front page of The Economic Times on Friday with the headline, “This Chat is Laced with Indian Masala.”

Mr. Arora’s success story fits the beloved script of an Indian making a mark in California’s Silicon Valley or anywhere else in the U.S. for that matter.

He spent four years handling corporate development for Google Inc. before joining WhatsApp when it was still a fledgling startup in 2011.

Prior to Google, he was part of the Investments and Corporate Strategy teams at Times Internet Limited, a subsidiary of the Times of India Group, and an engineer and “self learnt hacker” at mobile file sharing company Accellion  Inc., according to his LinkedIn profile.”

via Who Is WhatsApp’s Neeraj Arora? – India Real Time – WSJ.

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21/02/2014

India doubles Iran oil imports in Jan from Dec -trade | Reuters

India’s oil imports from Iran more than doubled in January from a month earlier, with one state refiner returning from a three-month break as a buyer after sanctions on Tehran were eased due to the interim deal on its nuclear programme.

Yet, the jump may not signify a sudden flood of Iran’s oil to the market as clients bump up imports. India was able to take more of the crude because it earlier cut its buys the most among Tehran’s top clients and more than what was needed under the Western sanctions aimed at Iran’s disputed nuclear ambitions.

India’s oil purchase from Iran in January surged to 412,000 barrels per day (bpd), up from 189,100 bpd in December and 44 percent higher than a year ago, data compiled by Reuters showed.

January shipments from Iran were the highest since February 2012, shortly after new toughened sanctions from the United States and Europe went into effect, the data also showed. Iran was also India’s second biggest supplier for a month for the first time since March 2012, the data showed.

The big jump last month brings India’s imports from Iran over April-January to about 201,000 bpd, still a decline of 26 percent from the same 10 months a year earlier.

That’s below a target of 220,000 bpd for the fiscal year that ends March 31, but if imports are held at close to the January levels, the earlier cuts could be wiped out.

via India doubles Iran oil imports in Jan from Dec -trade | Reuters.

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20/02/2014

Indian govt approves Rs 650 crore for Nano mission – The Times of India

Union Cabinet on Thursday gave its approval for continuation of Nano mission – a mission on Nano Science and Technology – in its second phase in the 12th Plan Period (2012-17) and sanctioned Rs 650 crore for the purpose.

Nano Technology is a knowledge-intensive and “enabling technology” which is expected to influence a wide range of products and processes with far-reaching implications for the national economy and development.

“The mission’s programmes will target all scientists, institutions and industry in the country. It will also strengthen activities in nano science and technology by promoting basic research, human resource development, research infrastructure development, international collaborations, orchestration of national dialogues and nano applications and technology development”, said an official statement of the government.

The Nano mission, in this new phase, will also make greater effort to promote application-oriented R&D so that some useful products, processes and technologies also emerge. It will be anchored in the Department of Science and Technology and steered by a Nano Mission Council chaired by an eminent scientist.

The government had launched the Nano mission in May 2007 as an “umbrella capacity-building programme”.

As a result of the efforts led by the Nano mission, India is at present amongst the top five nations in the world in terms of scientific publications in nano science and technology (moving from 4th to the 3rd position).

The Nano mission itself has resulted in about 5000 research papers and about 900 Ph.Ds and also some useful products like nano hydrogel based eye drops, pesticide removal technology for drinking water, water filters for arsenic and fluoride removal and nano silver based antimicrobial textile coating.

Under the mission, Indian scientists have been given access to global state-of-the-art facilities like the Photon Factory at Tsukuba, Japan and PETRA III in Hamburg, Germany.

via Govt approves Rs 650 crore for Nano mission – The Times of India.

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20/02/2014

Indian govt clears plan to create new forest cover – The Hindu

Government on Thursday cleared a plan to create new forest cover and improve the quality of existing forests with an expenditure of Rs. 13,000 crore in the 12th Plan.

File photo of affrostation initiatives taken on mine-spoit lands in Salem. Government has approved Rs. 13,000 crore outlay to increase the tree cover in the nation.

Besides the two components, which are to be implemented through various measures including decentralisation of forest governance, the proposed National Mission for a Green India (GIM) as a Centrally Sponsored Scheme will also strive to achieve increased forest-based livelihood income of households living in and around the forests.

The Cabinet Committee on Economic Affairs chaired by Prime Minister Manmohan Singh on Thursday approved the proposal of the Ministry of Environment and Forests.

The objectives of the Mission during 12th Plan period includes increased forest/tree cover and improved quality of forest cover in two to eight million hectares, along with improved ecosystem services including biodiversity, hydrological services, increased forest-based livelihood income of households, living in and around the forests, and enhanced annual CO2 sequestration (process of capture and long term storage of CO2).

via Govt clears plan to create new forest cover – The Hindu.

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20/02/2014

* Third Front Stokes Fears of Unstable Government: Corporate India – Businessweek

An alliance of regional parties in India is eyeing power in the general election due by May. That’s rattling some of the nation’s companies.

Eleven disparate groups holding 17 percent of parliamentary seats formed a bloc this month to pass legislation, a precursor to a possible alternative to the ruling Congress and the main opposition Bharatiya Janata Party. Moody’s Investors Service warned last week that any so-called third front government could lack a common agenda to revive the country’s struggling economy, pressuring both the rupee and India’s credit rating.

“The minimum they can do is to remove the uncertainty on the policy front so that having invested we don’t start regretting,” Debnarayan Bhattacharya, managing director of Hindalco Industries Ltd., said in a Feb. 14 interview, referring to the next government of Asia’s third-largest economy. Otherwise “people will think twice, thrice, four times before investing.” Hindalco is India’s second-largest aluminum maker.

via Third Front Stokes Fears of Unstable Government: Corporate India – Businessweek.

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20/02/2014

A New Way to Measure Poverty in India – India Real Time – WSJ

How should you measure poverty?

It is a question that has generated enormous controversy in India. The country’s government says that since the mid-1990s, the number of people living below the official poverty line has dropped by more than half, hitting 270 million, or 22% of the population, in 2012.

Still, India continues to rank extremely low in United Nations’ measures of well-being. India ranked 136 out of 186 countries in the 2012 U.N. Human Development Index and 94 out 119 in the U.N. World Food Programme’s Global Hunger Index.

The Indian government sets its official poverty line at 816 rupees per person per month in rural areas and 1,000 rupees per person per month for city dwellers. That works out to about 40 cents a day in the countryside and 50 cents a day in the city.

A new study by the McKinsey Global Institute – the research arm of consulting company McKinsey – says that such a gauge of extreme poverty has its place. But it argues India should focus instead on a more comprehensive measure of what it would take to satisfy a person’s basic needs for food, energy, housing, drinking water, sanitation, healthcare, schooling and social security.

McKinsey calls its new measure an “empowerment line.” It is the level where the report’s authors conclude that India’s citizens can get out of poverty and have the resources to build better lives for themselves, rather than scrape along at subsistence levels. McKinsey set its empowerment line at 1,336 rupees a month – roughly 50% above the government poverty line.

“It’s an expanded definition of poverty and aims to calculate the escape velocity needed to get people sustainably out of poverty,” said Anu Madgavkar, a senior fellow at the institute in Mumbai.

According to McKinsey’s calculations, about 680 million people, or 56% of Indians, now live below the empowerment line. Insufficient and ineffective public programs, poor agricultural productivity and a lack of better jobs all conspire to keep people poor.

via A New Way to Measure Poverty in India – India Real Time – WSJ.

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