KACHARAGADLA

We want to make India an electronic-manufacturing hub, Union Electronics and IT Minister Ravi Shankar Prasad said on Wednesday, while detailing to the media the key decisions he took in a meeting with Union Finance Minister Arun Jaitley. We want to make India an electronic-manufacturing hub, Union Electronics and IT Minister Ravi Shankar Prasad said on Wednesday, while detailing to the media the key decisions he took in a meeting with Union Finace Minister  Arun Jaitley . Prasad said, “We have as many as 108 crore mobile phones in the country and we had requested Arun Jaitley ji that they should be manufactured in India only. And as it is there is zero duty in India for it due to international obligations. We had also been given duty differential.” “In the last one-and-a-half years, as many as 42 mobile manufacturing companies have entered the market. And 30 component manufacturing companies have also come. Proposals worth Rs. 26,000 crore have come and the best companies of

No other state in India has a data portal as comprehensive or transparent as Andhra Pradesh’s As cyclone Hudhud raged on 12 October 2014, a different storm was brewing within the leadership of the newly formed state. Andhra Pradesh was still recovering from an unsavoury separation with Telangana, along with a large revenue deficit. Despite such challenges, the vision set out by the chief minister and his team was ambitious. Around the same time as the cyclone, Nara Chandrababu Naidu announced his vision for Andhra Pradesh to become one of the three best states in India by 2022 and the best state in terms of inclusive development by 2029. In November 2014, Naidu visited Singapore, where the idea of an investment promotion and monitoring body like the Economic Development Board (EDB) of Singapore was conceived. In addition, to better monitor the recovery process following Hudhud, the chief minister asked his state planning department to put together a real-time dashboard, which wou

Long relegated to second place behind China, Asia’s economic leader, there are clear indications that India is on the verge of a dramatic growth phase, according to analysts from the international investment bank, Credit Suisse. “India looks to be firing at last,” was one of the headings in the bank’s report which also contained a warning for international mining companies hoping to sell bulk materials, such as iron ore and coal, to the country. Self-sufficiency, which has long been a political objective in India, appears to be developing in bulk commodities with distribution problems that have dogged coal and iron ore being overcome. Piles of coal stand near a rail yard at the coal-fired NTPC Ltd. Badarpur Thermal Power Station in Badarpur, Delhi, India. Photographer: Prashanth Vishwanathan/Bloomberg The aim of the week-long visit by the Credit Suisse team was to see whether commodity intensive growth has started in India. The answer was positive, but with a mixed outloo

India's status as a bright spot amid global uncertainty is not "overdone",  JPMorgan  Chairman  Jamie Dimon  told the  Economic Times  in an interview published on Monday. Citing the over-seven per cent growth, the deficit going down "quite a bit", and the government taking steps which would enable future growth, Dimon told the financial daily that India's prospects over the next 20-30 years were quite good. On impact on India's image under Modi government Dimon told the financial daily that India's image had changed in positive terms after Prime Minister Narendra Modi took charge. He added that India was the fastest growing country in the world today and that changes were being made.  Admitting that politics was "hard", Dimon described that Modi was nonetheless a "successful and strong leader". He also pointed out how foreign direct investments into the country had doubles in the last four-five years.

India approved a plan on Wednesday to allow residency status to foreign investors, adding new impetus to create a real free market as it continues to unveil reforms on FDI policies and restrictive business regulations. With $63 billion worth of foreign investment, India was the top destination for foreign direct investment (FDI) last year. It raced past China, which was at the top for many years. This year, things are looking much brighter for Asia’s third-largest economy, which has seen a 23% rise in foreign direct investment to $55.5 billion in the fiscal year to March, according to Reuters. To be eligible, foreigners would have to invest $1.5 million over 18 months, or $3.7 million over three years, resulting in jobs for at least 20 resident Indians every fiscal year, the government said in a statement. Those who meet the criteria would be eligible to stay for 10 years. The residence permit can be extended by a decade. But will this residency plan, which is being compared

The Make in India program includes major new initiatives designed to facilitate investment, foster innovation, protect intellectual property, and build best-in-class manufacturing infrastructure. NEW PROCESSES Doing business in India just got easier – new de-licensing and deregulation measures are reducing complexity, and significantly increasing speed and transparency. Process of applying for Industrial License & Industrial Entrepreneur Memorandum made online on 24×7 basis through eBiz portal. Validity of Industrial license extended to three years. States asked to introduce self-certification and third party certification under Boilers Act. Major components of Defence products’ list excluded from industrial licensing. Dual use items having military as well as civilian applications deregulated. Services of all Central Govt. Departments & Ministries will be integrated with the eBiz – a single window IT platform for services by 31 Dec. 2014. Process of obtaini