Rs.2.35L cr takeaway from biz summit

Bengal Chief minister Mamata Banerjee made it clear that demonetisation had failed to dampen the spirit of the 3rd Bengal Global Business Summit while announcing investment proposals worth Rs.2.35 lakh crore on the concluding day of the event.
Till the previous evening, investment proposals had touched only Rs.30,000 crore. Central government investments, including expansion of Metro rail projects in Kolkata and suburbs worth Rs.23,590 crore has been included in the list of proposed projects that include proposals in sectors like manufacturing, infrastructure, MSME, urban development, transport, IT, telecom and hospitality.

Manufacturing and infrastructure took the lead with proposed investment of Rs.61,765 crore, followed by medium, small and micro enterprises sector. The biggest proposal came from Chinese firm TEB Technology , that will invest Rs.27,200 crore in Texmaco to manufacture MRTS rakes. Currently, TEB operates MRTS in Beijing and Philadelphia. The next biggest was in infrastructure and real estate where Shapoorji Pallonji group has committed Rs.24,000 crore. One of the big-ticket investments is an industrial growth corridor triangle for Rs.22,000 crore. The other major proposals include Howrah MSME hub for Rs.18,000 crore, Rs.12,500 crore by Reliance in telecom, Tajpur port for Rs.12,000 crore, RP-SG Group investment in FMCG for Rs.10,000 crore, truck terminal and Paribahan Nagar at Rajarhat for Rs.10,000 crore and theme-based township by Ambuja for Rs.10,000 crore and Rs.12,000 crore investment by Reliance in telecom infrastructure. Interestingly, unlike last year where a lot of projects was announced by the Centre, this time majority was from private entrepreneurs and that include a fair amount of foreign direct investments. Besides TB Technologies, FDI may come from Cedrus of Russia, Auto Haus of China, ATTIVO and in mining.

Mamata did not elaborate on the investments but mentioned about an MoU between Handong University of Korea and West Bengal Housing Infrastructure Development Corporation for green cities, Norway showing interest in maritime projects, Italy keen on leather and manufacturing and Japan on drinking water project.

Referring to the past two editions of BGBS in which the state had received proposals worth over Rs.4.93 lakh crore, the CM said 40% were in the implementation stage.

Later state finance and industries minster Amit Mitra said that success of a business summit largely depends on business to business meetings and in case of BGBS this time, 425 B2B meetings were held.


Somewhere in Bengaluru....

CPSE ETF gets bids worth Rs.12,000 crore

The second tranche sale of government's exchange traded fund of top 10 state-owned companies saw bids worth Rs.12,000 crore from investors, twice the amount sought to be raised.
The Reliance Mutual Fund managed Central Public Sector Enterprises-ETF saw all round participation from investors, with retail buyers, who were offered 5% discount, putting in bids for over Rs.1,000 crore. Anchor investors, for whom the bids were opened on January 17 and Rs.1,800 crore was reserved, had put in bids for over Rs.6,000 crore. Another Rs.6,000 crore worth bids poured in from qualified institutional buyers and retail investors between January 18-20.


Somewhere in Jammu-Kashmir....

Twenty seven years after most of the Kashmiri Pandits left the Valley, the Jammu and Kashmir Assembly passed a resolution to ensure the return of migrants to their homeland. Former J-K chief minister and opposition leader Omar Abdullah tabled the resolution and the PDP-BJP government supported it. The resolution was passed unanimously. “Today, it has been 27 years since they left the Valley,“ said Abdullah referring to January 19, 1990, when most of the Kashmiri Pandits left the Valley after militancy broke out.

The National Conference leader appealed to all legislators to rise above political beliefs and join hands in passing the resolution so that Kashmiri Pandits, Sikhs and Muslims who left Kashmir due to the turmoil can come back to their home and be resettled.

India's Aviation statz

Himachal gets 2nd capital

In a sudden move ahead of assembly polls later this year, chief minister Virbhadra Singh declared Dharamshala, situated in the snow-capped Dhauladhar range, the second capital of Himachal Pradesh. Making the announcement he said the town had a history of its own and fully deserved to be the second capital of the state.
The announcement is significant as 25 out of 68 assembly seats fall in Kangra, Una and Hamirpur districts, and Dharamshala was important for lower areas of the hill state including Kangra, Chamba, Hamirpur and Una districts.

The chief minister said Dharamshala was already marked prominently in the map of the world due to reasons including religious, natural and adventurous tourism and it being the home of His Holiness the Dalai Lama had attracted prominent personalities throughout the year.

The CM said a full-fledged winter session of HP assembly was held for the first time outside Shimla in December 2005, during his earlier term as the CM. A complete assembly complex was already functional at Tapovan, for which the foundation was laid in his last tenure in 2006. Virbhadra claimed he had introduced the practice of annual winter sojourn way back in 1994 to see for himself the progress of development works being carried out in the area.

Karnataka state highways to develop into green corridors

There are 14 national highways and 114 state highways with a total length of 28,311 km in Karnataka. Of these, state highways are more as they are the arterial routes linking district headquarters, important towns and national highways.

The state government has proposed to develop eco-friendly roads by earmarking one per cent of the civil cost of highway development projects for planting of saplings.This will cover both the existing sections as well as new routes that would be added to the network.

The road contractor will have to sign a pact to ensure strict compliance of planting of saplings on highways they develop and their maintenance. The saplings which are over three years old have to be planted in every 5-metre gap on both sides.

Planting of saplings will reduce the impact of air noise pollution and dust, soil erosion and provide shade under the scorching sun. It will also help prevent the glare from headlights of fast-approaching vehicles, and generate more employment.