| POLICY WATCH |
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Sebi alters norms for debt, money mkt securities
| The Securities and Exchange Board of India (SEBI) has modified provisions related to the valuation of debt and money market instruments to ensure that portfolios of fund houses reflect the current market scenario. |
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Govt accepts TRAI's recommendation for 74 per cent FDI in mobile TV services
| In a move expected to fast track mobile television (TV) technology services, the government has accepted the recommendations of the Telecom Regulatory Authority of India (TRAI) for a composite foreign investment limit of 74 per cent in mobile TV services. |
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Irda unveils disclosure guidelines
| The Insurance Regulatory and Development Authority (IRDA) has issued final public disclosure norms-to be effective from March 2010-to serve as initial public offer (IPO) guidelines for insurance companies. |
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| PEOPLE |
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Vim Kochhar is the first India-born businessman nominated to the Canadian Senate
| An India-born businessman, Vim Kochhar, has become the first Indian to be nominated to the Canadian Senate by Prime Minister Stephen Harper. |
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HDFC Chairman Deepak Parekh conferred ICAEW award
| HDFC Chairman, Deepak Parekh, has been conferred the outstanding achievement award by the Institute of Chartered Accountants in England & Wales (ICAEW) for his contribution to the finance and accountancy profession. |
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Salil Shetty to be the first Indian to head Amnesty
| Global human rights non-governmental organisation, Amnesty International, has appointed Salil Shetty, an Indian who headed the United Nations' Millennium Campaign, as its next secretary-general. |
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| ECONOMY AND ENTERPRISE |
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India's economy projected to grow 8 per cent in 2011-12: World Bank
| India's economy will grow at 7.5 per cent in the 2010-11 fiscal beginning April 1 and will increase by 8 per cent in the following fiscal, according to the Global Economic Prospects 2010 report by the World Bank. |
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Economic growth gathers pace
| According to the Edelweiss-ET NOW Lead Indicator Index (EELII), a composite weighted average index of a number of macro-variables that exhibit a strong predictive ability of core trends in the economy, India's index has climbed to 110 in February 2010 from 76 a year ago. |
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Survey indicates strong revival in manufacturing
| The HSBC Markit Purchasing Managers Index (PMI), one of the most reliable indices tracking the health of the manufacturing sector, climbed to its highest level in one-and-half years to 57.6 in January, 2010. |
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India Inc steals the show in Q3
| The financial results for the December 2009 quarter point to a growth in demand and rise in profitability with 400 of Bombay Stock Exchange (BSE) 500 companies, excluding public sector unit (PSU) oil marketing firms, reporting a 45 per cent jump in net profit. |
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Cement sales up on realty, infra push
| All major cement companies witnessed growth in their sales, from 1 per cent to 38 per cent in January 2010, vis-à-vis the same month last year. |
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20 Indian banks in top 500 global banking list
| Twenty Indian banks are included in the Brand Finance Global Banking 500, an annual international ranking by UK-based Brand Finance Plc, with the State Bank of India (SBI) becoming the first Indian bank to break into the world's Top 50 list. |
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Genpact acquires US-based Symphony
| India's largest back-office firm Genpact has announced the acquisition of US-based analytics and data management services provider, Symphony Marketing Solutions (SMS). |
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Tata Steel forms JV with Nippon Steel
| Tata Steel has formed a joint venture (JV) with Japan's Nippon Steel Corporation for production and sales of automotive cold-rolled flat products at Jamshedpur. |
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India Inc's rural focus is undergoing a key shift with companies like Nestle and GlaxoSmithkline Consumer Healthcare (GSK) now launching products specially designed for the rual market, instead of smaller packs of their flagship brands at lower price points.
Furthermore, Mahindra First Choice, an arm of the Mahindra and Mahindra Group (M&M) which sells second hand cars, is looking to set up sales and service outlets in rural areas across the country to sell 100,000 vehicles by 2015. |
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"India offers unlimited potential and is growing rapidly."
H. Tanigawa
Managing Director
Bridgestone India Private Limited |
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| Mysore Railway Station has become the first railway station in the country to offer Wi-Fi networking facilities for passengers and the public. |
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Fiscal bonus: Incentive for states going green
| The Thirteenth Finance Commission (TFC) has recommended a special fiscal incentive for states promoting afforestation, suggesting a dedicated corpus of Rs 3,000 crore (US$ 646.72 million) for the purpose. |
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Green PCs launched by Wipro Infotech
| Leading information technology (IT) company, Wipro Infotech, has unveiled its new eco-friendly and toxin-free desktops, manufactured with materials completely free of harmful chemicals like polyvinyl chloride and brominated flame retardants. |
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CII to help HP become carbon neutral state
| Taking the initiative to make Himachal Pradesh the first carbon neutral state of India, the Confederation of Indian Industry (CII) has submitted a proposal, with a specific focus on greening existing industry, to the state government. |
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