| POLICY WATCH |
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Sebi orders operational audit of credit rating agencies
| The Securities and Exchange Board of India (SEBI) has made it compulsory for credit rating agencies (CRAs) to get an internal audit every six months. The audit will be conducted by chartered accountants, company secretaries or cost and management accountants. |
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Private cos can set up local banks
| The Reserve Bank of India (RBI) has granted in-principle approval to a proposal that will allow private sector players to promote small local banks that will have an area of operation up to three contiguous districts. |
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Sops for food processing industry
| The food processing industry in India is set for robust growth with the Centre's announcements of a series of new initiatives such as a separate policy at the state level, thrust on contract farming and plans to make the sector tax-free. |
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| PEOPLE |
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Indian-American receives award for excellence in mentoring
| Kenneth S Sajwan, Indian-American professor at Savannah State University, has received an award for excellence in mentoring, from US President Barack Obama. |
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Barrister of Indian-origin appointed to key judicial post in UK
| Forty-nine year old Kalyani Kaul, a barrister of Indian origin has been appointed Recorder by Queen Elizabeth. Kalyani will preside over hearings in county courts and prepare cases for trial. |
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Indian-origin scientist awarded Order of Canada
| Indian-origin scientist, Shrawan Kumar, has been awarded the Order of Canada, Canada's highest civilian award, for his pioneering research on musculo-skeletal injuries. |
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| ECONOMY AND ENTERPRISE |
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Auto Expo 2010 showcases record global launches
| The Auto Expo 2010 in New Delhi, has seen a record ten global auto launches lined up by automobile companies. Among the launches are Maruti Suzuki's multi-purpose vehicle (MPV), Concept rIII, Skoda's Yeti sports utility vehicle (SUV) and Tata Motors' Aria. |
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Manufacturing at highest level since May 2009: HSBC
| The HSBC Markit Purchasing Managers' Index (PMI) has climbed to its highest level since May 2009, signalling a faster month-on-month improvement in the health of the Indian manufacturing economy. December data pointed to a substantial increase in new business received by Indian manufacturers. |
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Core sector grows 5.3% in November
| The country's infrastructure sector expanded 5.3 per cent in November 2009 on the back of robust growth in steel and cement which grew by 11.7 per cent and 9 per cent respectively. |
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Domestic auto sales grow 49% in December
| Domestic passenger vehicle sales for December 2009 grew 49 per cent to 119,930 units—the second highest sales posted by the automobile industry in the current financial year. Passenger vehicle sales have seen a double-digit growth rate since July 2009. |
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Sale of steel grows 50 per cent in December 2009
| In an indication that economic recovery is building steam, Indian steelmakers such as Steel Authority of India Ltd (SAIL), JSW and Ispat have posted strong returns for December 2009; SAIL announced a 32 per cent increase in sales over the previous year. |
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MSMEs see better export growth in H2
| Micro, small and medium enterprises (MSMEs) in the country expect better growth in exports in the second half of the current fiscal ending March 2010, according to a survey conducted by industry body, Confederation of Indian Industry (CII). |
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Inox acquires Cryogenic Vessel of US, eyes more buys
| The Rs 2500-crore (US$ 545.36 million) Inox India has acquired a controlling stake in the US$ 60-million US-based Cryogenic Vessel Alternatives (CVA), the world's largest cryogenic transportation equipment maker. |
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Reliance MediaWorks acquires UK-based iLabs
| Reliance MediaWorks has acquired British-based iLabs to strengthen its post-production facilities in the areas of processing, restoration, 2D to 3D conversion and other services to broadcasters and studios. |
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TCG Lifesciences, Pfizer ink drug research pact
| Kolkata-based TCG Lifesciences Limited (TCGLS) has entered into a collaboration with pharmaceutical company Pfizer, for research and development, under which TCGLS will receive research funding and will be eligible for research milestone payments as part of the partnership arrangement. |
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India's logistics sector is seeing increased activity—the country's major ports have posted a 12.8 percent year-on-year (y-o-y) rise in cargo volumes in November 2009.
Meanwhile, the Rajasthan State Industrial and Investment Corporation Limited (RIICO) has signed a memorandum of understanding (MoU) with Container Corporation of India Limited (Concor) to set up a Rs 350-crore (US$ 75.23 million) multi-model logistic park (MMLP) in the state. And, supply chain and logistics company, Safexpress, has launched its ultra-modern logistics park in Pune and is investing Rs 600 crore (US$ 130.96 million) to develop world-class warehousing at strategic locations across the country. |
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"India is one of the markets of prime importance to us and Etios is a massive product for us globally."
Kazuo Okamoto
Chairman
Toyota |
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| The country's first electric plug-in compressed natural gas (CNG) hybrid bus, HYBUS, was unveiled by Ashok Leyland at the Auto Expo in New Delhi. |
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New government buildings to comply with green norms
| In a bid to fight climate change threats through improved energy efficiency, all new buildings of government and public sector undertaking (PSU) offices will be required to follow green rating norms. |
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India, Japan to jointly develop solar city
| India and Japan have jointly agreed to develop a city in India as "solar city". To date, the government has given in-principle approval to 34 cities in the country to be developed as solar cities. |
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IBM ties up with IITs in Delhi, Roorkee for green tech research
| Technology company IBM has tied up with Indian Institutes of Technology (IITs) in Delhi and Roorkee to jointly promote research in areas of common interest, like green technologies, energy-efficient computing and data mining. |
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