Economic News from India
High Commission of India
Dar es Salaam
March 09, 2015
Headlines
*
Singapore Firm Commissions
Power Project in India
*
First
TPG Invests Rs.900 Crores (US$146
million approx) in Manipal Health
* Supporting India’s Trade Preferences for
Africa: 4th Partnership Platform
Meeting 19-20 March 2015, Vivanta by
Taj, Surajkund, Faridabad, Haryana
Key Economic Indicators
Forex Rates: 1US$ = `62.61
1 Euro = `67.96
(As on 09.03.2015)
Forex Reserves: US $ 338.079 billion
(As on 27.02.2015)
NIFTY
8,759.00 (As on 09.03.2015)
SENSEX 28,862.40 (As on 09.03.2015)
References:
`6.261 crores = US $ 1 Million (Approx)
* Loans Could Become Cheaper as India’s
Central Bank Cuts Keys Rates
* PM Modi's Focus on Ease of Doing
Business and Investment has Resonated
Outside of India: Mark Weinberger, CEO,
Ernst & Young
*
Trade Enquiries from India
*
Interactive web-portal under the ‘Make
In India’ programme and Investor
Facilitation cell
*
New portal for e-filing of FDI applications
*
Duty Free Tariff Preference Scheme
(DFTP) of Government of India
*
Forthcoming Events
00000000000
* Websites
for Economic, Business
Opportunities and Social Information
On India
*
Snippets
Foreign Trade
For further details please contact:
High Commission of India
82 Kinondoni Road, Dar-es –Salaam
P.O.Box 2684, Dar es Salaam.
Tel: +255-22-266-9047 / 2669040-2
Email: [email protected];
[email protected]
Singapore Firm Commissions First Power Project in India
Singapore firm Sembcorp Industries‟s first power project in India has commenced
commercial operation. The firm announced completion of the first 660-megawatt unit of
the Thermal Powertech Corporation India (TPCIL) plant in Nellore district of Andhra
Pradesh. The 1,320 MW coal-fired power plant in the coastal town of Krishnapatnam
comprises two units of 660 MW each, with the second unit expected to begin commercial
operation in the third quarter of 2015. The approximately $1.5 billion power plant utilizes
supercritical technology, which allows for enhanced efficiency and reduced emissions
compared to other conventional coal-fired power plants.
http://indiainbusiness.nic.in/newdesign/upload/Publications/Weekly/March_2015/MEA
_Weekly_Newsletter_Feb24__Mar_02.pdf
TPG Invests Rs.900 Crores (US$146 million approx) in Manipal Health
Global private equity major TPG Capital Management is buying a „significant minority
stake‟ in Bengaluru-based hospital operator Manipal Health Enterprises (MHEPL) for $146
million, or a little over Rs 900 crore. Manipal Health owns and operates over 5,200 beds
across 16 hospitals in India and one hospital in Klang, Malaysia. Counted among the top
three hospital chains in the country, Manipal Health provides treatment to over 2 million
patients annually.
http://indiainbusiness.nic.in/newdesign/upload/Publications/Weekly/March_2015/MEA
_Weekly_Newsletter_Feb24__Mar_02.pdf
Supporting India’s Trade Preferences for Africa: 4th Partnership
Platform Meeting 19-20 March 2015, Vivanta by Taj, Surajkund,
Faridabad, Haryana
Despite an enormous untapped potential for trade expansion between India and Africa,
data reveal that a limited number of products are currently being traded. India‟s trade
with Africa is concentrated in certain sectors and countries, and it is dominated by
exports of primary commodities. While the potential for export diversification exists, it may
not be realized without targeted intervention. India is well-positioned as a partner to
improve the productive and export capacities of African partner countries. With the
growing importance of South-South cooperation, India‟s expertise can be leveraged to
build trade capacities in Africa partner countries through the sharing of knowledge,
technology and lessons learnt. Currently, ITC, CII and Exim Bank are jointly designing the
project called „Supporting India‟s Trade Preferences for Africa‟ (SITA), which will be
implemented over a period of five years until March 2020. The project responds to the
challenges that selected East African countries – Ethiopia, Kenya, Rwanda, Uganda and
the United Republic of Tanzania – face in increasing and diversifying exports. During the
design phase of the project all partner organizations are regularly meeting to identify the
sectors/products, where trade and investment relation between the select African
countries and India could further deepen. The Fourth meeting is scheduled to be held
from 19 – 20 March 2015 at Vivanta by Taj, Surajkund. Followed by the official launch of
the SITA project in New Delhi.
Source: Confederation of Indian Industry (CII)
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Loans Could Become Cheaper as India’s Central Bank Cuts Keys Rates
Housing, auto and commercial loans could become cheaper with the Reserve Bank of
India cutting key lending rates by 25 basis points in an unexpected move on on March 4
as it expected inflation to soften further. Getting some positive cues from the national
budget tabled recently, and sensing a sustained economic recovery, the repurchase (repo)
rate has been cut to 7.5 percent from 7.75 percent and the reverse repo rate has been
adjusted to 6.5 percent from 6.75 percent. The cuts follow a far-reaching agreement
between the government and the Reserve Bank of India (RBI) under which the central
bank will aim to bring the country‟s retail inflation below the 6-percent mark by January
2016 and to around 4 percent by the end of 2016-17.
http://indiainbusiness.nic.in/newdesign/upload/Publications/Weekly/March_2015/MEA
_Weekly_Newsletter_Feb24__Mar_02.pdf
PM Modi's Focus on Ease of Doing Business and Investment has
Resonated Outside of India: Mark Weinberger, Ernst & Young
Chairman and CEO of Ernst & Young, having worked with the Clinton and the Bush administrations in the US,
recently was in India for a review meeting. Weinberger with ET Bureau discussed the budget audit rotation and
the rise of Indian talent. Below are edited excerpts:
Qn. How do you rate Finance Minister Arun Jaitley's budget from a global CEO's
perspective?
Mark Weinberger: With the budget's focus on accelerating investments, particularly
foreign capital-led, the Indian government has demonstrated that it is both listening and
responding to investors.
Qn. Do you think that postponing the implementation of general anti-avoidance rule and
bringing in clarity on taxation will give greater confidence to the global investors?
Mark Weinberger: By deferring GAAR to 2017 and making it prospective, the finance
minister has sent out a clear message on the government's keenness to attract foreign
investment.
Qn. Do you feel a change in the mood of global investors?
Mark Weinberger: Definitely, yes. That's one of the many reasons I'm here right now. I've
met with government officials. I've met with local Indian companies to find out what they
think is happening on the ground. I will take that vision back to our clients around the
world and help them form their investment decisions. Prime Minister (Narendra) Modi's
focus on ease of doing business and investment and inclusive growth has resonated
outside of India.
http://economictimes.indiatimes.com/opinion/interviews/pm-modis-focus-on-ease-ofdoing-business-and-investment-has-resonated-outside-of-india-mark-weinberger-ernstyoung/articleshow/46497321.cms
3
Trade Enquiries from India
S/No
Company
Enquiry
I
(Mr. Dilip Kumar Dheer),
Group Superhouse Ltd,
Uttar Pradesh - India
Tel: +91 9956294076
Email: [email protected]
Looking for:
Importers/Dealers
of
leather goods, e.g. safety
shoes, garments, etc.
II
(Mr. Shivam Bhatt),
Matrix meditec (P) Ltd,
Ahmedabad - 382213, Gujarat - India
Tel: +91 90676 26965
Email: [email protected]
Looking for:
Partners/Importers/dealer
s of Orthopedic implants
(medical
devices
&
instruments).
III
(Mr. Faizan Pomchawala),
Munna Exports,
Ahmedabad – 380 022, India
Mob: +91-9377382425 / +91 79 2909 4672
Email: [email protected]
Looking for:
Importers of rice (basmati
& non basmati).
IV
(Mr. Chirag Sheth),
Chirag Traders,
Mumbai – 400 064, India
Tel: +91 22 9820236311
Email: [email protected]
Looking for:
Importers
of
agrochemicals
&
pharmaceutical chemicals.
V
(Mr. Sandeep T.),
Cholayil Pvt Ltd,
Uttarakhand - India
Tel: +91 9566 173399
Email: [email protected]
Looking for:
Importers of personal care
and health products.
VI
(Mr. Himanshu Shekhar),
Trade World Enterprises,
India
Email: [email protected]
Looking for:
Importers / Dealers of food
grain e.g. rice, wheat,
maize, sugar, soyabean,
spices etc.
Website: www.tradeworldenterprises.com
VII
(Mr. Dinesh Zope),
Nextmotive Motors Pvt. Ltd,
Pune – 412 108, Maharashtra, India
Mob: +91 9922931645
Email: [email protected]
Looking for:
Dealer for their product “ACROSS” Brand - small
cargo vehicle. The dealer is
for selling, service and
spares.
VIII
(Mr. B. Dhingra),
Medelec Instruments
New Delhi, India.
Mob: +91 9868 083030
Email: [email protected]
Looking for:
Importers/dealers
of
Ophthalmic
&
Otolaryngological
micro
Surgical instruments &
equipments.
4
IX
(Mr. Harsh Vardhan Saraf),
Brijlall Shivnath,
Kolkata- 700 001, India
Tel: +91 2230 5896
Email: [email protected]
X
(Mr. Raj Pattani),
Radford International,
India
Mob: +91 9601 485 749
Email: [email protected]
XI
Looking for:
Importers/distributors of
jute products e. g. Jute
burlop/heassian
cloth,
jute sacks, jute rope, jute
yarn/Twine, etc.
(Mr. Manoj Srivastava),
V.K. Pack Well Pvt. Ltd,
Kanpur – 208022, India
Mob: +91 7607178868
Email:
[email protected]
[email protected]
XII
(Mr. Manish Jain Bafna),
Herbs And Crops Overseas,
Ahmedabad, Gujarat – 380 004, India
Mob: +91 92270 09797 / 97262 90666
Email: [email protected]
Looking for:
Importers of garments.
Looking for:
Importers
of
HDPE
laminated
fabrics,
Tarpaulins, Lay flat tubes,
beds
for
/ woven
vermiculture etc. (Useful
for farmers).
Looking for:
Importers of herbs for
cosmetics, for ayurvedic
formulation, for crops, for
dyeing etc.
XIII
(Ms. Ramavathy),
LK Export International,
Chennai 600 073, Tamil Nadu, India
Tel: +91 22 271816
Mob: +91 9710796679
Email: [email protected]
Looking for:
Importers of basmati rice,
yellow corn & soybean
meal (for animal feed),
wheat, spices etc.
XIV
(Mr. Sachindra Chandra Dutta Banik),
Sampurna,
Kolkata - 700036, West Bengal, India
Mob: +91 84203 10398
Email: [email protected]
Looking for:
Importers of bio products
& agro chemicals.
Mahratta Chamber of Commerce, Industries and Agriculture – Pune, India has started
IntBizPune– an electronic business bulletin featuring
business enquiries for
international business prospects from companies in Pune and surrounding areas earlier
this year. The enquiries are hosted on the website link:
http://www.mcciapune.com/pdf/INTBizPunEnqFeb2015.pdf
The previous issues are hosted on the links:
http://www.mcciapune.com/pdf/BizEnqAug2014.pdf
http://www.mcciapune.com/pdf/IntBizEnqSept2014.pdf
http://www.mcciapune.com/pdf/3IntBizPuneNov2014.pdf
http://www.mcciapune.com/pdf/IntBizPuneDec2014.pdf
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Interactive web-portal under the ‘Make in India’ programme and
Investor Facilitation cell
The Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and
Industry has developed an interactive web-portal under the „Make in India‟ programme.
The portal is: www.makeinindia.gov.in , this portal provides a platform for investors and
the business community to interact with the government for information, clarification etc.
An Investor Facilitation cell has also been created by DIPP in Invest India. This cell may be
used for providing information, assistance and advice to potential investors. Queries in
respect of Make in India may be directed to this cell. Contacts are as under:
INVESTOR FACILITATION CELL
Invest India, Federation House, Tansen Marg
New Delhi – 110001, India
Tel: +91-11-2348 7411
Email: [email protected]
Web: www.makeinindia.gov.in/contact/
New portal for e-filing of FDI applications
The finance Ministry has launched new website for the filing and processing of FDI
applications requiring Government approval. Currently the applications are filed online at
www.fipbindia.com , which has limited features and processing capabilities. The new
website http://fipb.gov.in which became operational on February 17, 2015 will now
receive FDI applications that require approval. From now on, an applicant will have to
submit only one copy of the application for records with the FIPB secretariat.
Duty Free Tariff Preference Scheme (DFTP) of Government of India
India announced the DFTP Scheme for Least Developed Countries (LDCs) in the year
2008. In order to expand trade with Africa, India has recently amended its Duty Free Tariff
Preference (DFTP) scheme to cover around 98 per cent of the tariff lines. Until recently, the
Scheme grants duty free access on about 85% of India‟s total tariff lines and preferential
access (Positive List) on about 9% of tariff lines. Only 6% tariff lines are under the
exclusion list. Duty Free and Positive Lists cover about 92.5% of global exports of LDCs.
Tanzania was the first LDC in Africa to convey its intention to join DFTP in June 2008. All
formalities for the Scheme were completed and notified in 2009. Details of the DFTP
Scheme are available on the following links:
http://commerce.gov.in/trade/international_tpp_DFTP.pdf
and www.focusafrica.gov.in\DFTP_Scheme.html
For further information on the DFTP Scheme kindly contact:
Bileshi Ally Madenge
Marketing Assistant
High Commission of India
P.O. Box 2684, 82 Kinondoni Road, Dar es Salaam, Tanzania
Tel: [255-22] 2669042; Fax: [255-22] 2669043/2669050
Email: [email protected]
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Forthcoming Events
The Ministry of Commerce and Industry, Government of India, Services Export Promotion
Council (SEPC) and the Confederation of Indian Industry (CII) have joined hands to
organize the 1st Indian Global Exhibition on Services (GES) from 23 – 25 April, 2015
at Pragati Maidan, New Delhi. The focus sectors identified for the 1st GES are
Information Technology and Telecom, Education, Healthcare, Logistics, Media &
Entertainment, Professional Services, Tourism, Space and Research & Development.
For any further information, please contact Ms. Amita Sarkar, Deputy Director General,
CII or Ms. Anjula Singh Solanky, Director, CII at [email protected] or
[email protected] or Tel: 011 4577 1015.
The 5th International Summit & Exhibition on Indo-African-Arab Women
Entrepreneurs” scheduled for 28-30 April, 2015 at New Delhi, is being organized by
Federation of Indian Women Entrepreneurs (FIWE) to bring together women leaders,
entrepreneurs,
professionals,
consultants,
company
executives,
academicians,
representatives of international organizations and national governments besides those
aspiring to be entrepreneurs from Arab & African countries in INDIA. The main objective
of the Summit is to Synergize the global opportunities for women entrepreneurs to
facilitate an effective socio-economic development. More than 400 participants from over
50 countries are expected with significantly large groups countries like Ethiopia, Nigeria,
Botswana, Senegal, Egypt, Bahrain, Qatar& Abu Dhabi, and neighbouring countries.
Tanzanian women leaders, entrepreneurs, professionals, consultants, company
executives, academicians, representatives are encouraged to participate in the event.
For further details please contact: Mr. Mohinder Singh: +91 9560088893 and Ms. Rashel
Saxena: +91 9560088894. Email [email protected] Website: www.fiwe.org
Exhibitions India Group (EIG) has been serving the ICT, media & entertainment industry
in India for 27 years and has played an integral role in changing the communications
landscape in India and South Asia through the well-known Convergence India series of
annual expos. Now, EIG has launched Convergence Africa World 2015 with AfriEXPO, a
local Nairobi organization. The event themed “Connecting Africa”, the first edition of
Convergence Africa World 2015 expo will take place at Oshwal Centre (Parklands)
Nairobi, Kenya during 17 – 19 June, 2015. The event will showcase the convergence of
telecom, media, broadcast & IT industries including hardware, software, IT enabled
services, internet, e-commerce, smart devices, cloud computing, etc.
Further information available on website: www.convergenceafricaworld.com
Confederation of Indian Industry (CII) is organizing the “11th Indian Food Processing &
Food Technology Fair” during 28 – 30 August, 2015 at Chennai Trade Centre, Chennai,
India. The Fair will once again provide people with excellent trade opportunities and broad
business platform. With its cross-over concept covering everything from manufacturing
and processing of foods, machines or systems, packaging material , analytics, ingredients
or services. For further details about conference sponsorship and speaking opportunity
please contact:
Mr. Hariharan TP,
Mobile +91 9788790347
Email: [email protected]
7
Websites for Economic,
Information on India
Business
Opportunities
and
Social
 Interactive web-portal under the „Make in India‟ programme:
www.makeinindia.gov.in
 Federation of Indian Chambers of Commerce & Industry (FICCI):
http://www.ficci.com
 Confederation of Indian Industry (CII): www.ciionline.org
 Directory of Indian Suppliers (CII): www.indianindustry.com
 Directorate General of Foreign Trade (DGFT): http://dgft.delhi.nic.in
 India Trade Promotion Organization (ITPO):
www.indiatradefair.com ; http://www.tradeportalofindia.com
 Innovative Technology in Manufacturing: www.itm-india.com
 Indian Exporters‟ Guide: www.indianexporters.com
 Export Promotion Organizations:
http://tradeportalofindia.com/contentmgmt/Desktops2.html?compid=itpo&itemco
de=I051
 Federation of Indian Export Organizations: http://www.fieo.org
 National Small Industries Corporation [NSIC): http://www.nsic.co.in
Snippets
1. FDI in services sector up 44 per cent during April-December
2. India, Sri Lanka discuss FTA implementation, trade issues
3. 4.11 lakh tonnes of sugar exported during October-December 2014
4. Tata Jaguar Land Rover plans to build first electric car in Austria
5. In the next 5-10 years, there will be an enormous number of new reagents to cure
cancer: Inder Verma
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