This is the brand that will give India Inc a pole position in the global manufacturing sweepstakes. The government plans to market Indian manufacturing as Green to make it stand apart from Chinese or even say US products, which are typically energy-intensive. There is sound economics behind the tag.
Top government officials say Indian manufacturers in most sectors are far more energy efficient than their counterparts abroad. This means in addition to labour intensive character, products manufactured here are more environmentally compatible. For instance, in cement industry, against the global lowest energy intensity of 65 kilowatt per tonne, the domestic manufacturers are at a comfortably close 69. The same picture is evolving in other manufacturing sectors like steel.
According to Ajay Shankar, secretary, department of industrial policy and promotion, India is ideally suited to develop Green as the USP of its manufacturing profile. “Our best is already there, the strategy is to make the followers catch up with them”, he said.
Measurements of overall energy intensity of GDP in India also point to the same trend. According to the government’s own estimates, energy intensity here is the same as in OECD countries, when GDP is calculated in terms of the purchasing power parity (PPP). Industry chambers, like Ficci and CII also aver that the move has started vigorously.
“Our manufacturing is at par with the best in the world and far better than the developing world,” said Arun Kumar, associate director, KPMG.
Thursday, June 05, 2008
Govt approves 23 SEZ proposals
The government on Wednesday approved 23 more proposals for setting up Special Economic Zones, including an airport-based one by Bangalore International Airport Ltd and an IT zone by Larsen and Toubro.
The Board of Approval (BoA) for SEZ, chaired by Commerce Secretary Gopal Pillai, took up 27 proposals of which 21 were granted formal approvals while the in-principle nod to two projects were converted into formal approvals, an official statement said here. BIAL's airport-based 113 hectare SEZ at Devanahali in Bangalore was given formal approval as was the 15 hectare IT zone in Gujarat by Larsen and Toubro. Among those which were granted formal approvals include 13 proposals by Deccan Infrastructure and Land Holdings Ltd for IT, ITeS, sector specific and gems & jewellery zones in Andhra Pradesh. Diamond IT Infracon's IT zone in Uttar Pradesh was also given the go-ahead. The in-principle nod to the metal SEZ by Germach Infrastructure Equipments and Projects Ltd and engineering SEZ by Maharashtra Industrial Development Corporation in Maharashtra was converted to formal approvals. The government has so far given formal approval to 467 SEZs of which 225 have been notified and are directly employing 97,993 people. Physical exports from the SEZs have increased to Rs 66,638 crore in the last fiscal registering a growth of 92 per cent from Rs 34,615 crore in 2006-07.
The Board of Approval (BoA) for SEZ, chaired by Commerce Secretary Gopal Pillai, took up 27 proposals of which 21 were granted formal approvals while the in-principle nod to two projects were converted into formal approvals, an official statement said here. BIAL's airport-based 113 hectare SEZ at Devanahali in Bangalore was given formal approval as was the 15 hectare IT zone in Gujarat by Larsen and Toubro. Among those which were granted formal approvals include 13 proposals by Deccan Infrastructure and Land Holdings Ltd for IT, ITeS, sector specific and gems & jewellery zones in Andhra Pradesh. Diamond IT Infracon's IT zone in Uttar Pradesh was also given the go-ahead. The in-principle nod to the metal SEZ by Germach Infrastructure Equipments and Projects Ltd and engineering SEZ by Maharashtra Industrial Development Corporation in Maharashtra was converted to formal approvals. The government has so far given formal approval to 467 SEZs of which 225 have been notified and are directly employing 97,993 people. Physical exports from the SEZs have increased to Rs 66,638 crore in the last fiscal registering a growth of 92 per cent from Rs 34,615 crore in 2006-07.
MARKET PREDICTION
GLOBAL CUES ARE NEGATIVE ..BUT GOLD AND CRUDE ARE MOVING DOWN WHICH IS HEALTY FOR ECONOMY.
RS VS DOLLAR IS 42.7.
THERE IS ONE THREAT IN MARKET i.e. INFLATION.
TOTAL MARKET WIDE O I IS 66 K CR PUT CALL RATIO IS 1.57% EASING FROM HIGH OF 2.08%.
NIFTY LEVEL TO BE WATCHED OUT 4500-4580-4630-4690.
IT WILL BE PRUDENT TO SELL AT EVERY HIGH CLOSE ALL LONG.
HAVE A NICE TRADING DAY
-MR SAM
RS VS DOLLAR IS 42.7.
THERE IS ONE THREAT IN MARKET i.e. INFLATION.
TOTAL MARKET WIDE O I IS 66 K CR PUT CALL RATIO IS 1.57% EASING FROM HIGH OF 2.08%.
NIFTY LEVEL TO BE WATCHED OUT 4500-4580-4630-4690.
IT WILL BE PRUDENT TO SELL AT EVERY HIGH CLOSE ALL LONG.
HAVE A NICE TRADING DAY
-MR SAM
PM admits fuel price increases will be unpopular
Fuel price increases unveiled by the government on Wednesday were modest but will be unpopular, Prime Minister Manmohan Singh said on Wednesday, adding India must get used to paying the "economic cost" for petroleum products.
In a rare televised address to the nation hours after the domestic petrol and diesel prices were hiked by about 10 percent, Singh said the government remained committed to minimising the impact of surging crude oil prices.
But he said "issuing oil bonds and loading deficit on oil companies" did not represent a permanent solution to the problems caused by oil's record-breaking rally.
Doing so while restricting the revenues of state oil firms would choke a vital growth sector of the economy.
"We need to learn to adjust to this new international scenario. And we need to pay the economic cost of petroleum products," Singh said.
He also urged state governments, many of which tax petroleum products substantially, to contribute to the union government's efforts by reducing taxes and levies.
In a rare televised address to the nation hours after the domestic petrol and diesel prices were hiked by about 10 percent, Singh said the government remained committed to minimising the impact of surging crude oil prices.
But he said "issuing oil bonds and loading deficit on oil companies" did not represent a permanent solution to the problems caused by oil's record-breaking rally.
Doing so while restricting the revenues of state oil firms would choke a vital growth sector of the economy.
"We need to learn to adjust to this new international scenario. And we need to pay the economic cost of petroleum products," Singh said.
He also urged state governments, many of which tax petroleum products substantially, to contribute to the union government's efforts by reducing taxes and levies.
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