Delhi-NCR Economy Thread

[IchimaruGin1]

Maruti to spend Rs17bn on Manesar expansion

This initiative will help the company scale up the Manesar plant's capacity from 300,000 units per annum to 550,000 units p.a. over the next two years

Maruti Suzuki India Ltd. said on Tuesday that it will invest about Rs17bn for the proposed capacity expansion at its Manesar plant by 2.5 lakh units annually. This initiative will help the company scale up the Manesar plant's capacity from 300,000 units per annum to 550,000 units per annum over the next two years.

Maruti Suzuki's present production facilities are located at Gurgaon with a capacity of 7 lakh (0.7 million) units and Manesar with capacity of 3 lakh (0.3 million) units.

Maruti Suzuki also said that it will invest around Rs12.5bn to double its K-series engine manufacturing capacity in the next 2-3 years. The country's largest car maker currently makes 250,000 K-series engines at its Gurgaon plant annually.

"We will invest 50 billion yen (around Rs25bn) in our R&D center and engine capacity expansion. It is likely to be equally divided into both," a company spokesperson said.

Maruti Suzuki currently makes a total of one million engines (petrol, diesel and K-series petrol) at its Gurgaon facility.

Maruti Suzuki today said that it has become the first automobile company in India to produce one million (10 lakh) cars in a single financial year. The one millionth car manufactured by Maruti Suzuki in the fiscal year 2009-10, a glistening red Maruti Suzuki Swift, was rolled out today from the company's Manesar plant.

In the fiscal year 2009-10 (April to February), Maruti Suzuki has sold 923,242 units (791,260 in domestic market and 131,982 exports). The company clocked its highest ever monthly sales in February 2010 with a total of 96,650 units (a record number of 84,765 units in domestic and 11,885 units in exports).

http://www.indiainfoline.com/Markets...ion/4801652009

[IchimaruGin1]

JLR opens new dealership in New Delhi

Tata Motors’ Premier Car Division today announced the appointment of AMP Motors as the new Jaguar Land Rover dealership in New Delhi – only the second outlet in the country beyond the first flagship store in Mumbai.

The entire product range including the Jaguar XJ, XF, XK and the Land Rover Freelander 2, Discovery 4, Range Rover Sport and the Range Rover will now be available in New Delhi through AMP Motors.

AMP Motors has set up two facilities in New Delhi – a centrally located boutique showroom at the premium Janpath area across Hotel Le Meridien and an integrated 3S – Sales, Service and Spares – facility at Mathura Road, the automobile high street of Delhi. Both facilities have been designed and constructed as per the latest Corporate and Dealer Identity Guidelines of Jaguar and Land Rover.

Rajiv Dube, President, Passenger Car Business Unit, Tata Motors, said, “The NCR region is a key market for premium cars and SUVs and we are happy to establish a footprint for the two iconic brands through a new dealership in the capital city of India.”

He added, “Based on the encouraging response received so far on Jaguar and Land Rover vehicles in India, we are pursuing plans to expand our reach to other cities in the country.”

http://www.indiainfoline.com/Markets...lhi/4802274169

[Indian Rockstars]

Conax supports accelerated Asia growth - expands 24/7 operations in Delhi

Agencies
Posted: Friday, Mar 26, 2010 at 1524 hrs IST
Updated: Friday, Mar 26, 2010 at 1524 hrs IST



New Delhi: Today Conax announced it will unveil an expanded 24/7 support center in Delhi. Conax is leading content security provider in India and is also one of the top three providers for digital TV content distribution world-wide. The support center will be officially launched on April 1st and will supplement both current 24/7 support services worldwide, as well as the company's growing customer base in India and other regions of Asia.

"In addition to a variety of technical customer support services, for a number of years Conax has provided full operational security support for major satellite and cable TV platforms in India, states Petter Schonberg, CEO, Conax Access Systems Private Limited, India. Enhanced international focus from our operational and support centre will also benefit key Conax customers in India. Driving support services for Conax customers worldwide from the India-based center will further increase the Conax activity level in India."

"Conax' continual growth in a multitude of regions with dynamic potential, such as India, is undoubtedly spurred by our focus on providing niche technology that is best-of-breed. The strategic decision to further expand our support operations in Asia developed based on Conax's growing market in the region," says Berit Svendsen, CEO, Conax.

Conax provides specialist content protection solutions only, forming strong alliances with strategic global and local partners to deliver complimentary platform services and solutions - a strategy which has earned the international technology provider continual market growth in India and other regions of Asia, among others.

Source: Financial Times

[IchimaruGin1]

Delhi, Mumbai most preferred by home-seekers: Survey

MUMBAI: New Delhi and Mumbai are considered the most preferred real estate investment destinations for this year (2010), with 62 per cent of
prospective buyers wanting to invest in a home and live in these two cities, a nationwide survey revealed here Monday.

The survey by housing and realty portal entitled "Realty Trends-2010" conducted in the metros and tier II cities found that nearly one-third of the people - 34 percent - would like to buy a house in the national capital.

Mumbai follows close behind with 28 percent of the people desiring to settle in their own home in the city of dreams.

Surprisingly, Bengaluru and Hyderabad came a distant third as the option of only 11 percent of the people surveyed, said Aditya Verma, vice-president, makaan.com.

"The survey also revealed that in 2010, the realty sector will be driven by the end users who shied from making property purchases last year in view of the recession and fluctuating prices," Verma added.

As many as 67 percent of those surveyed wanted to buy a house for self-consumption while 23 percent looked at it as a long-term investment and the remaining 10 percent as a short-term investment proposal.

A majority of the buyers have also said that the speculators driving the realty boom of 2004-07, have been more or less driven out of the markets.

As far as Mumbai is concerned, the survey has some unexpected results.

While 72 percent of the property seekers want to buy a home for self-consumption, nearly 20 percent plan to take the plunge this year itself. The remaining 8 percent will treat it as a short-term investment option.

http://economictimes.indiatimes.com/...ow/5739355.cms

[IchimaruGin1]

Conran & Partners opens Delhi office

Conran & Partners is opening an office in Delhi to serve India’s hospitality and residential design markets.

The consultancy is recruiting a managing director to head the office in Delhi, and hopes to recruit a second senior member of staff to share management responsibilities.

’There is such uncertainty with the UK market at the moment so the Indian, South Asian and South East Asian markets are very, very serious for us,’ says Conran & Partners managing director Tim Bowder-Ridger (pictured), to whom Delhi’s managing director will report.

http://www.mad.co.uk/Main/News/Artic...hi-office.html

[Abhishek901]

[IchimaruGin1]

Foreca launches India ops with a new country office in Delhi and a full Service weather portal – Foreca.in

New Delhi: Foreca Ltd, one of the world’s biggest weather companies has commenced its operations in India with its head office in New Delhi. With its footprints across the continents through some of the major clients, Foreca brings its global expertise to Indian market to offer its personalized services according to Indian customer needs.

Foraca’s extensive Indian weather service is available in eight local Indian languages. With full coverage of the subcontinent, including thousands of locations and animated maps, satellite images and much more; all in Hindi, Punjabi, Tamil, Telugu, Malayalam, Kannada, Gujarati and Bengali. The user friendly Indian weather portal www.foreca.in now has it all, which gives truly rewarding experience to users while viewing the weather of the subcontinent.

“Indian market offers huge potential owing to variety of reasons such as agriculture’s dependency on weather, huge coastal area and need for navigational tools. We are very excited at the India opportunity and we are sure our personalized products will provide great value to consumers and advertisers alike,” said Vishal Singh, Country Manager, Foreca India.

Worldwide, Foreca’s main focus has been on mobile, internet (media) and navigation. In Indian market too, Foreca will be targeting these spaces for client acquisition and service offerings. There is a latent need from the consumers to have updated weather information available with them in the most convenient and easily accessible way. Foreca offers weather application and solutions which enables mobile, navigational and internet devices with updated weather information. Now Indian users will be able to customize and personalize weather information of their choice of locations.

Worldwide, Foreca has been offering its services through some of the biggest global brands such as Microsoft, Google and AOL.

In mobile domain, Foreca has weather applications

-- For mobile service providers to provide weather service to their users in SMS/MMS/IVR

-- Foreca’s mobile client application available at various app stores- Nokia’s Ovi store, Apple’s store and

-- Foeca.mobi is our wap service.

“We are excited by the possibilities offered by this growing market and are constantly looking for ways to improve our services for our Indian users. Adding local Indian languages to our portal was the obvious next step in the expansion of our service” says Marko Moilanen Vice President for Business Development

In addition to the extensive coverage of India, the service has weather forecast information for all the countries in the world and also more detailed forecasts for all major cities globally. Users can personalize the weather site...

http://www.financialexpress.com/news...eca.in/600110/

[IchimaruGin1]

ITT Corporation Opens Office In New Delhi, India

NEW DELHI, India, Apr 09, 2010 (BUSINESS WIRE) -- ITT Corporation (ITT 54.13, +0.26, +0.48%) today announced the opening of ITT Defence International Inc., the company's first defence-focused office in India. The new office was opened today in the capital of New Delhi, where it will be accessible to many government entities. ITT Defence International Inc. will focus on delivering ITT's portfolio of defence and information solutions to the Indian market.

"India requires sophisticated defence technologies, and ITT is committed to working with the Indian Ministry of Defence to deliver our best solutions for their military and home affairs operations," said David Melcher, president of ITT Defense & Information Solutions. "Opening a local office emphasizes our long-term commitment to the growing Indian market."

ITT will offer a range of defence solutions for the Indian market including night vision technology, tactical radios and global air traffic management. Ron Smith, vice president of business development and general manager of ITT Defence International, will lead the office initiatives and day-to-day operations. "We are excited to establish a new office in India," said Smith. "It is a natural expansion for ITT and will allow us to deliver high-performing defence solutions and technologies for the region."

ITT, a top-10 U.S. defence contractor, recently realigned its Defense & Information Solutions business segment to meet the emerging needs of its global customers. The realignment will allow ITT to deliver broader solutions to customer needs, as the company expands outside the United States. ITT Defence International in India is the company's second international defence office. ITT Defence Ltd., in Basingstoke, England has been in operation since 1993.

http://www.marketwatch.com/story/itt...k=MW_news_stmp

[lanka108]

Holmes Sees Opportunities in India

Frank Holmes, chief executive officer of U.S. Global Investors Inc., talks with Bloomberg's Pimm Fox about his investment strategy for emerging-market stocks. Holmes also discusses investment opportunities in India, Sri Lanka and Colombia. (Source: Bloomberg)



Not sure if its in the correct section, the best I could find anyway.

Cheers

[Indian Rockstars]

DELHI is the best : No1


http://economictimes.indiatimes.com/...ow/5783980.cms

Delhi with its rich heritage sites, modern healthcare centres and swanky business hubs emerged as the favourite destination among foreign
tourists including business travellers in 2008, a study has revealed.

According to the latest data on state-wise tourist arrivals available with FICCI, a total of 23.4 lakh foreigners visited Delhi in 2008. The total foreign tourist arrivals (FTAs) in India during the period was 53.6 lakh.

At the second spot, Maharashtra was close with 20.6 lakh visitors, followed by Tamil Nadu, Uttar Pradesh and Rajasthan, the FICCI-Evalueserve study on India Inbound Tourism said.

Mumbai and Pune are the biggest attraction among foreigners in Maharashtra, which is the third largest state.

While Tamil Nadu is famous for its beaches, hill stations, heritage sites, temples and wildlife, Uttar Pradesh is a popular destination due to the presence of religious and historical sites including the world famous Taj Mahal.

The study said one-third of foreign tourist visiting India travel to Rajasthan, which is known for palaces, art and culture.

The North-east region -- Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland and Tripura -- which offers numerous leisure and adventure is emerging as a significant FTA destination.

Meanwhile, another study by FICCI-Evalueserve said the medical tourism sector was not affected in 2009 even when the FTAs to India declined to 51.6 lakh from 53.6 lakh in 2008.

FTAs in 2009 declined primarily due to the global economic slowdown and Mumbai terror attacks, it said.

"The reasons are not far to seek. All medical procedures, including hospitalisation and recover costs are relatively low in India as compared to Europe and America," it said.

The number of medical tourists in India is expected to reach 10 lakh by 2012, with India's share in the global medical tourism industry reaching 2.4 per cent. The domestic market is likely to reach Rs 4,400 crore by 2012, the study said.

[IchimaruGin1]

Bank Loans and Credit Growth During the financial Crisis

Delhi did even worse, with credit growth down to a mere 2.2% year-on-year at end-September 2009. During the previous 12-month period, bank loans had grown by a very high 39.2%

Despite the low credit growth in Delhi, credit in Noida on the outskirts rose by a high 48%

http://www.livemint.com/2010/03/0921...ed-in-the.html

[IchimaruGin1]

Reliance likely to rope in Mitsui for Haryana SEZ

NEW DELHI: Mukesh Ambani-controlled Reliance Industries (RIL) is likely to rope in Japanese firm Mitsui as an investor in its special economic zone (SEZ) project in Haryana, a clear indicator that the project is finally taking off. ( Watch )

Mitsui has given a letter of intent to Reliance to pick up 350-400 acres of land in the SEZ to set up a logistics park, the company sources said.

At about Rs 1 crore an acre, the deal size could be as high as Rs 400 crore, said a person close to the transaction.

Last year, RIL brought in IL&FS, a specialist infrastructure financing and management company, as a co-promoter to play a lead role in the management of the $10-billion project, long billed as India’s biggest and most ambitious SEZ project spanning as much as 25,000 acres.

Though the project suffered due to the economic downturn in the last quarter of 2008, it has gained traction recently as foreign investors have become keener to participate in one of the world’s fastest growing economies.

A company official told ET that besides Mitsui, two other Japanese firms are engaged in talks to invest in the Haryana SEZ. He, however, declined to reveal the other names stating that the talks were at a very preliminary stage.

Mitsui will buy the land on the Gurgaon-Farrukhnagar stretch. The Haryana SEZ was conceived in 2005 with a target of generating 5 lakh jobs and meant to house a cargo airport, a 2,000 MW power plant and with rail linkages to Delhi.

An RIL spokesperson said the company would not like to comment on what he described as ‘market speculation’. “As per the company policy, we would not like to comment on market speculations and individual transactions. Currently, requisite permissions, statutory approvals and clearances are being processed and we are working on the financial closure of the project,” the spokesperson said.

RIL, which has held a 90% stake in the project, had also considered tie-ups with global firms such as Walt Disney, Time Warner or Universal to establish theme parks and entertainment centres.

In 2005, RIL signed an agreement with the Haryana State Industrial & Infrastructure Development Corporation (HSIIDC) under which both sides were to have directors in a ratio of 2:1 on the board of their joint venture company. The deal also involved HSIIDC giving nearly 1,400 acres for the project for around Rs 500 crore.

In 2006, when the SEZ rules were notified, there was a mad rush for setting up such projects. But demand for SEZs has cooled off since. Several big projects such as Reliance’s Navi Mumbai SEZ, Haryana SEZ, the Posco SEZ have been hit because of land acquisition problems, resistance from farmers and changing regulations.

Several projects that were announced at the peak of SEZ boom have either been called off or are stuck. Last year, real estate major DLF got four of its SEZs denotified by the commerce ministry. DLF had told the government that there was no demand for commercial space. Another real estate firm Parsvnath had put 12 of its SEZ projects on hold. Videocon had planned two SEZs in Maharashtra and four in West Bengal but has put its development plans in abeyance.

http://economictimes.indiatimes.com/...ow/5785926.cms

[IchimaruGin1]

must say such a big sez near Delhi in the NCR region is going to be very good.

It was everything going for it. Airport nearby for cargo etc.Delhi nearby.

this is the pic of what we are talking about for those who are not from delhi (neither am i)

[IchimaruGin1]

RFP for investment in two Delhi SEZs to be floated next week

NEW DELHI: Delhi government will come out with a global request for proposal next week seeking investment in the two Special Economic Zones to be set up in the national capital.

The two SEZs -- one in Gems and Jewellery and the other in IT and IT-enabled services -- will be developed by DSIIDC and will require a total investment of nearly Rs 700 crore.

"We are coming out with the RFP in a week or so," a top official of the Industries Department said.

He said the government was also planning to set up luxury hotels in the IT SEZ and all the modalities for greater involvement of private players in these tax-free zones were being worked out.

"In the IT SEZ, we will try to attract big players in original equipment manufacturing segment such as Samsung, LG, Sony and Wipro," said the official.

In developing the IT SEZ, Government is following the model of the Nokia SEZ in Chennai where setting up of the Nokia plant led to various vendors such as Salcomp, Aspocomp, Foxconn and Wintek setting up manufacturing units.

The city government has already got all required clearances from the Centre, including the go-ahead from the environment ministry to set up the two tax-free zones.

The official said DSIIDC, the government's premier infrastructure development agency, will hold 26 per cent equity in both the SEZs.

The gems and jewellery SEZ, to be spread over 41.4 acres of land at Baprola village, will have facilities for identification, grading and certification of diamond as well as a world-class Gems and Jewellery Training Institute.

It is expected to provide direct employment to 18,000 people and indirect employment to 54,000 people.

The second SEZ for promoting IT sector, which will be set up on 26 acres of land in south Delhi, is expected to provide direct employment to 36,000 people and indirect employment to another 1,08,000.

The industries department official said the land has already been transferred to DSIIDC for the two SEZs.

After announcement of the Delhi SEZ policy last February, the NCT government had received eight proposals from private developers to set up the tax-free zones in the city but most of them put on hold their plans due to the economic slowdown.

According to the Delhi government's Industrial Policy, no polluting industries will be allowed to come up inside the SEZs and environmental clearance will be a must for all projects.

Under the SEZ Act of the Central government, units in these zones will be given 100 per cent tax exemption on their income for the first five years and 50 per cent in the next five years.

http://economictimes.indiatimes.com/...ow/5827674.cms

[Abhishek901]

I forgot this thread and posted similar news in Delhi projects thread yesterday

[KuwarOnline]

The national capital has the second highest GDP ie $167 billion in the country. And although it cannot rival Mumbai in terms of contribution to the growth of the Indian economy, Delhi is no pushover. It contributes 4.94 per cent to all-India GDP.

Connaught Place, one of India's largest financial centres, is located in the heart of Delhi. Being an important commercial centre in South Asia, Delhi has a per capita income of Rs 78,690, which is more than double the national average.

Delhi's key service industries, backed by as strong and well laid out infrastructure, include IT, telecommunications, hotels, banking, media and tourism. In recent times, Delhi's manufacturing industry has grown considerably and consumer goods industries have established manufacturing units and headquarters in and around the capital.

Source
http://business.rediff.com/slide-sho...htm#contentTop

[Abhishek901]

I guess they again took the figures of only Delhi and ignored suburbs like Gurgaon, Noida, etc.

[KuwarOnline]

Originally Posted by Abhishek901

I guess they again took the figures of only Delhi and ignored suburbs like Gurgaon, Noida, etc.

Yes, I think...so... but they are calculating city GDP not NCR,,,,n officially ggn,noida etc gdp count in respective state...not in delhi....as officially they are not delhi's suburbs....like mumbai has officially suburbs in central till mulund and western till Borivili.

[Abhishek901]

Originally Posted by KuwarOnline

Yes, I think...so... but they are calculating city GDP not NCR,,,,n officially ggn,noida etc gdp count in respective state...not in delhi....as officially they are not delhi's suburbs....like mumbai has officially suburbs in central till mulund and western till Borivili.

They are officially suburbs of Delhi. I guess you mean to say in administrative terms.

In case of Mumbai, they have included areas outside Greater Mumbai too (like Thane and Navi Mumbai). They have mentioned its population as 19 million, which means these places are also included.

[Indian Rockstars]

ICHI boy...yaar how difficult to understand the fact that Gurgaon, Noida are officially Delhi NCR????

isn't it quite simple....infact it's very simple...

anyways Delhi without gurgaon and noida is ranked 2nd with impressive figures....

Imagine if they take whole NCR contribution as one...then mumbai will be 2nd to delhi...anyways Mumbai fast is loosing the tag of being the highest contributor...