India's factory output crashes to 5.1 per cent for October month

India's factory output declined to a new low of 5.1 pc in Oct month as manufacturing, mining and capital goods sector shrunk indicating overall economic slowdown of economy. This is in comparison to Industrial Production Index of last year that had grown by 11.3 percent. The factory output rose by mere 3.5 percent in the April-October period as against 8.7 percent in the same period last year. The manufacturing index declined by 6 percent in October, compared to a growth of 12.3 percent in the same month of 2010.

India’s food inflation declines to 8 percent on account of low onion and potato prices

India’s food inflation declined to to 8 per cent for the week ended November 19. Food inflation, as measured by the Wholesale Price Index (WPI), was 9.01 per cent in the previous week ended November 12. It stood at 9.03 per cent in the corresponding week of the previous year.

The main contributor to this moderation in inflation were onions that became cheaper by 40.65 per cent year-on-year during the week under review, and potato whose prices were down by 10.98 per cent. Price of wheat also fell by 4.71 per cent. However, all other food items grew more expensive on an annual basis.

Indian to increase the Port Capacity by 236.63 million tons per year

Indian Government has identified 23 projects for award during 2011-12 to increase the capacity of major ports by 236.63 MTPA (Million Tons Per Annum) with an estimated investment of Rs. 16743.92 crores under Public Private Partnership (PPP) mode. The existing port capacity of Major Ports as on 31.3.2011 is 670.13 Million Tonnes (MT). This was told by GK Vasan, the minister of shipping in parliament.

The Minister further stated that the Government of India has given top priority to the modernization of ports through various expansion/upgradation projects for berths, construction of

Texas Ventures and CODISSAI organize Global Cluster Manufacturing Vision 2020 Conference

An underlying principle of future growth is that “Manufacturing is important to India’s future progress” Manufacturing will unquestionably be a very different enterprise in 2020 from what it is today. A critical step in preparing for the future will be the development of an underlying foundation which must be guided by a clear vision of manufacturing in the next century and an understanding of the fundamental challenges that must be met to realize this vision.

Global Manufacturing Cluster Vision 2020 - GMCV 2020 conference is an effort to bring out the leaders from Indian manufacturing to d

Global stocks markets shaky even as Italy votes on austerity measures

India’s BSE benchmark Sensex on Friday fell 169 points due to widespread selling by funds. The factory output and inflation figures along with eurozone crisis weighed heavily on investor mind. National Stock Exchange index declined to 5,142.25, before ending lower by 52.20 points to 5,168.85.

The results of Tata Steel, DLF Ltd and Ranbaxy Laboratories were way off analyst estimates.

The stocks of Larsen and Toubro, ICICI Bank, BHEL, Hindalco, Infosys Ltd., ONGC, Sterlite Industries, Tata Motors, Maruti Suzuki, Jindal Steel and HDFC Ltd fell during the day. The shares gf Reliance Industri

India’s factory output falls to 1.9 per cent in September

The signs of Indian economy slowing down are becoming more visible as index of industrial production (IIP) fell to 1.9 per cent in September compared to 6.1 per cent in the same month last year. The manufacturing sector index grew by 2.1 per cent in September, compared to 6.9 per cent in the same month last year. Mining output fell by 5.6 per cent in September this year, as against a growth of 4.3 per cent in the same month last year. The capital goods segment contracted by 6.8 per cent in September in comparison to a growth of 7.2 per cent in

India’s food inflation continues double digit growth at 11.81 percent

India’s food inflation fell marginally to 11.81 per cent in the week ended 29th October. The food inflation for the previous week was 12.21 per cent. It was at 12.68 per cent in the corresponding week of the previous year.

The vegetables continued to spiral at a rate of 26.05 per cent on year-on-year basis during the week. The pulses became expensive by 13.27 per cent, fruits by 11.70 per cent, milk by 11.79 per cent, eggs, meat and fish by 12.74 per cent and cereal by 4.07 per cent.

Encourage private sector investments for power generation in 12th Plan: ASSOCHAM

Apex chamber ASSOCHAM today urged the government to encourage private sector investments and aim at adding 135 gigawatt of power capacity during the 12th Five Year Plan (2012-17) as initial projections show that capacity addition through public funding could be in the range of 60 to 65 GW.

In the 11th Plan, a target of 78.7 GW was fixed but the Planning Commission estimates indicate that actual realisation may not exceed 50 GW – or 63.53 per cent – due to slippages in public sector projects. The shortfall is primarily due to poor project implementation, inadequate domestic equipment manufac

India, China to be world’s largest trading partners by 2030 says India’s industry association ASSOCHAM

India and China can emerge as the world’s largest trading partners by 2030 with bilateral trade set to rise from 63 billion dollars now to 100 billion dollars in the next four years, industry body ASSOCHAM said today.

China has already raced past the United States, Britain and Japan to become India’s largest trading partner. Indian companies can gain substantially by accessing Chinese capital goods at attractive prices by way of imports, said The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

ASSOCHAM proposes strategy to achieve double digit growth in the Indian state of West Bengal

Apex industry body ASSOCHAM has proposed to partner with the West Bengal state government for setting up industrial clusters in sectors like food processing, handicrafts, renewable energy and information technology to achieve the double digit growth and generate four lakh new jobs in the next three years.

Registering a compounded annual growth rate (CAGR) of about 5.6 per cent between 2005 and 2010, the industrial sector in West Bengal accounted for nearly 19 per cent share in the state domestic product (SDP) in 2009-10. Manufacturing, construction, electricity, gas and

TCS wins $2.2 billion contract with Friends Life

Diligenta, a leading business process outsourcing (BPO) provider in the UK and a subsidiary of Tata Consultancy Services (TCS)the leading IT services, consulting and business solutions firm, today announced that it will assume administration responsibility for 3.2 million policies for Friends Life, a provider of pensions, investments and insurance. The agreement, effective March 1, 2012, is worth $2.2 billion (£1.37 billion) over 15 years.

This major business win underpins Diligenta’s proven expertise in the life and pensions industry

India’s domestic car sales takes downward trajectory, dips by 24%

According to figures released by the Society of Indian Automobile Manufacturers (SIAM) on Wednesday, motorcycle sales in the country grew marginally to 8,79,883 units during the month from 8,74,146 units in the corresponding month last year.

The cumulative production data for April-October shows overall production growth of 13.69 percent over same period last year. However, production of passenger cars and buses have registered de-growth during this time. Production in October 2011 also registered de-growth at (-) 1.80 percent as compared to October 2010.

Over 68% Indian CEOs stressed out due to economic upheaval says ASSOCHAM survey

Eurozone debt crisis has started impacting the large corpoartes in missing their targets both top line and bottom line and over 68% of CEOs feel restlessness in fulfilling their commitments due to uncertainty in business, reveals The Associated Chambers of Commerce and Industry of India (ASSOCHAM) survey.

Only 22% of Chief Executive Officers of domestic business with the given turnover target succeed in countering their resistiveness and fatigue in a bid to achieve their yearly targets in

India's Kandla Port to Achieve 100 MMT per Annum Capacity within 2 Years

The Union Minister of Shipping, G K Vasan laid the foundation stones for new PPP projects at berths No.13,15,16 and IFFCO jetty at Kandla Port and dedicated the newly installed Mobile Harbour cranes today. He also inspected the ongoing trial run of the Vessel Traffic Management System for Gulf of Kutch centre at Kandla.

He later reviewed the performance of Kandla Port with the officers and met various stakeholders of the port and discussed the issues requiring attention of the Central Government for further growth of the Port and the Port city. He stated that the Government is fully aware

Vodafone beats analyst estimates, raises full year operating profits to £ 11.8 billion

Vodafone has raised its profit forecast from £ 11.4 billion to 11.8 billion pounds. During second quarter the organic service revenue grew by 1.3 percent. Data revenue rose by 23.8% , with smartphone penetration in Europe rising to 21.7% in Q2; 24% of consumer contract customers in Europe are on integrated voice, SMS and data tariffs.

Enterprise revenue also grew by 2.6% driven by new account wins, growth in demand for converged services and increasing penetration of existing clients. In emerging markets, India service revenue rose by 18.4%, Turkey by 27.9% and Vodacom 7.3%.

Wipro Technologies wins IT engagement with Premier Foods of UK

Wipro Technologies has been chosen by Premier Foods, the United Kingdom’s largest food producer, as a strategic technology partner. Premier Foods plc produces and markets over 40 iconic British brands. As part of the five year strategic relationship, Wipro will be supporting both systems and processes to enhance efficiency of Premier Foods’ supply chain. This relationship will enable Premier Foods to realize quantifiable benefits for a known budgetary expenditure with minimal exposure to variable costs.

Wipro’s strong partnership with SAP, global SAP consultant base, end to end implementati

Wipro named as one of the global top companies for Leaders by Aon Hewitt, The RBL Group and Fortune

​Wipro is the only Indian IT company ranked in the prestigious Aon Hewitt 'Top Companies for Leaders' global list. The 'Top Companies for Leaders' study is conducted by Aon Hewitt, a global human resource consulting firm, in partnership with The RBL Group, a strategic HR and leadership advisory firm, and FORTUNE magazine. This year's winners were selected and ranked by an expert panel of independent judges based on criteria including strength of leadership practices and culture, examples of leader development on a global scale, alignment of business and leadership strategy, business performanc

Export grows 10.8% in October at $ 19.9 billion

India’s exports have registered a growth of 10.8% during October 2011, at US $ 19.9 billion. Imports in October 2011 stood at 39.5 Billion US$ registering a growth of 21.7%. Balance of Trade for the period was (-) 19.6 Billion US$. Cumulative Export figures for the period of April to October 2011 stood at 179.8 Billion US$ registering a growth of 46%. Imports for the same period stood at 273.5 Billion US$ registering a growth of 31%. Balance of trade for the period stood at (-) 93.7 Billion US$.

During April-October 2011, the following sectors have done well viz., engineering, (US $

KEC International adds new orders worth Rs. 400 crore

KEC International, the EPC company, has said that it has secured new orders worth Rs. 400 crore from Saudi Electricity Company, Power Gird Corporation of India and Visa Power. Saudi order is for 380 KV double circuit overhead transmission line and is valued at Rs. 306 crore. The order is won in joint venture with Al-Sharif Group of Saudi Arabia and will be completed in 24 months.

Power Grid has placed an order for Rs. 70 crore transmission line in Salem, Tamilnadu. Visa Power has placed an order for transmission line from Raigarh plant to New Korta in Chattisgarh and is valued at Rs. 24 cro

Global stock markets uncertain amid reports of dwindling Italian economy and Eurozone crisis

The Sensex at the Bombay Stock Exchange was trading 49 points lower at 17, 512 at 12:51locval time. The 30-share index gained nearly 70 points in early trade today or 0.39 per cent, to 17,632. Buying in capital goods, refineries, power, auto and metal stocks helped the Sensex gain.

Major losers from the Sensex pack were DLF (1.60 per cent), ICICI Bank (1.04 per cent), Tata Motor (0.93 per cent), Sunpharma (0.90 per cent) and Infosys (0.75 per cent).

United Health Group selects HCL as a Preferred Partner for ICD-10 Transition

HCL Technologies has been chosen by the United Health Group, a leading US healthcare payer, to support its transition to ICD-10 diagnostic and procedure codes. According to the agreement, United Health Group will incorporate HCL’s Proprietary ICD Crosswalk Mapping (iCRM) tool into its healthcare management portfolio to ensure a smooth transition from ICD-9 to ICD-10. HCL’s Proprietary ICD Crosswalk Mapping (iCRM) tool will help identify the inherent financial implications of the transition and help in developing a roadmap to effectively deal with the issues.

“HCL is committed to helping the

J Kumar Infraprojects wins Rs 600 crore new project

J Kumar Infraprojects Ltd has informed BSE that the Company has received following work order worth of Rs. 600 Crores. "Widening and Improvement to Sion-Panvel Special State Highway (Under BOT) from Uran Flyover retaining Wall End Point Ch. 126/150 to B.A.R.C Junction Ch 140/690 (Excluding 1.8 K.m of Thane Creek Bridge Portion).

J Kumar Infraprojects (JKIL), promoted by Jagdishkumar M Gupta and his family. J Kumar Infraprojects Ltd is a civil engineering and infrastructure development Company with a primary

India Calls for Breaking Trade and Investment Barriers in the Shanghai Cooperation Organisation zone

Power Minister Sushilkumar Shinde represented India at the annual meeting of the Shanghai Cooperation Organisation (SCO) Heads of Government in St. Petersburg on 7th November 2011. Making a statement on behalf of India, Shri Shinde called for breaking barriers that inhibit trade and investment flows between the countries in the SCO zone. He said SCO should address the problem of limited connectivity through regional solutions. He said that India was ready to cooperate to find viable solutions to this problem and contribute to the endeavour to build bridges between Central and South Asia.

D

NTPC to provide O & M services for Siddhirganj Power Plant in Bangladesh

NTPC Consultancy Wing has bagged its largest single International Contract for providing O&M services for Siddhirganj Peaking Power Plant in Bangladesh for a period of six years through International Competitive bidding. This shall be first foray of NTPC as an International O & M Operator.

Notice of Award (NOA) has been received for Operation and Maintenance services for 2X 120 MW gas based Siddhirganj Peaking Power Plant (SPPP-A) from Electricity Generation Company of Bangladesh Limited (EGCB).

Essar Energy Plc and Cairn India are fastest growing energy companies

Essar Energy Plc is ranked amongst 50 fastest growing companies where Cairn India is the fourth fastest growing company. Half of the top 10 spots in the 2011 Platts Top 250 Global Energy Company Rankings went to major oil and gas companies based in Europe, the Middle East and Africa (EMEA). The roster, now in its 10th year and announced Wednesday night at an awards dinner in Singapore, includes 79 EMEA companies, a 25% increase over the past decade.

“The composition of companies on the Platts Top 250 roster has shifted considerably in the last 10 years, but the EMEA’s consistent strong stan

New Delhi to be connected with Regional Rapid Transit System

Commerce minister gives “in-principle” approval to the concept proposal of Regional Rapid Transit System (RRTS) for NCR; emphasizes on need to focus on effective sub-urbanization in the region

Poultry industry in India to cross $ 26.84 billion by 2015 says industry association ASSOCHAM

With domestic demand for broiler meat and eggs into an overdrive, the Indian poultry industry is likely to cross $ 26.84 billion (Rs 1.32 lakh crore) mark by 2015, apex industry body ASSOCHAM said today. Growing at about 20 per cent annually the domestic poultry market is currently estimated at about $ 9.9 billion (Rs 49,000 crore), highlights a study on ‘Trends In Domestic Poultry Segment’ undertaken by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

“Driven by rising purchasing power, changing food habits, contract poultry farming and rapid urbanisation are certain k

India’s food inflation declines marginally to 9.32 percent, interest rate hike worries remain

The food inflation in India declined marginally, to 9.32 per cent for the week ended October 1st. Food inflation, as measured on the basis of the Wholesale Price Index (WPI), stood at 9.41 per cent in the previous week. The rate of price rise in food items had stood at 17.14 per cent in the corresponding week of 2010.

India’s factory output growth slower than expected

India’s factory output for the month of August 11 grew slower-than-expected. It registered a growth of 4.1 against forecast of 4.7 percent and 4.5 percent in August 2011. This was only marginally better than the output growth in July at 3.8 per cent. Commenting on the Index of industrial production data for August which was released today, Harsh Mariwala, President, FICCI and Chairman Marico Group said “The slowdown in manufacturing sector is more broadbased now as fourteen out of twenty two sectors have shown less than average growth for the period April-August 2011. On moving average basi

Indian exporters to get $ 183 million bonanza to beat the impact of global financial meltdown

Indian government has announced a special assistance over $ 183 million (Rs. 900 crore) to help exporter meet the challenges arising out of global economic conditions. Commerce and Industry Minister Anand Sharma announced the new measures that are part of the annual supplement of the Foreign Trade Policy.

Special assistance scheme is applicable to exporter of to engineering, pharmaceuticals and chemical sectors. Under this scheme, fifty products in these sectors will get special bonus of additional one per cent of export value between October and March this fiscal. The minister has introdu