Government is considering a proposal to set up Civil Aviation Authority (CAA), which would be a new regulator in the sector by replacing the Directorate General of Civil Aviation (DGCA). Government wants to replace DGCA with the proposed regulator because the former has limited delegation of financial powers and hence it is "incapable of making adeq
Tag: industry
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Minister invites French investment in infrastructure
Commerce and Industry Minister Anand Sharma welcomed French government and companies to invest in infrastructure, transport, high technology, energy and other sectors in India. He discussed mutual cooperation in the field of economy and business during his meeting with French Minister for Foreign Trade Nicole Bricq in Paris. Sharma also requested the French Minister to enco
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Sanghi to invest Rs 1.5 bn on ships, jetties
Media reports suggest that Sanghi Cement would invest Rs 150 crore for buying ships and for setting up new jetties or terminals. The company would spend Rs 100 crore on its Mumbai jetty in the next three years. Sanghi Industries has a captive jetty near its cement plant in Abdasa, Kutch and a sea terminal at Navlakhi port of Gujarat Maritime Board (GMB) in Rajk
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India steel output rises 3% in 5 months to May
Data from the World Steel Association (WSA) shows that India's steel output rose 3 percent to 33.5 million tonne during the first five months of this year (Jan-May 2013). This is well above the world average growth rate of 2.1 percent at 658 million tonne. In May 2013, India's steel output expanded at a lower rate of 1.5 percent as against the global growth rate of 2.6 percent. During the month, India produced 6.73 million tonn
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Reopening of smelter hits roadblock
While Sterlite Industries is in the process of reopening its copper smelter in Tamil Nadu following the verdict of National Green Tribunal (NGT), some reports indicate that a local authority appealed against the judgement in the Supreme Court. The tribunal allowed the firm to reopen the smelter under the monitoring of a court-appointed panel. The smelter, which produces more than half of India's total refined copper, remained shut for around two
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Analysts expect good prospect for SKS Microfinance
Some analysts feel that SKS Microfinance has good business prospects as it revamped its business model following the crisis in the microfinance sector in Andhra Pradesh. The microfinance institution (MFI), which was incurring loss since early 2011, posted profit after a long gap in December 2012 quarter.
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Call for reviving coastal shipping in VRV region
Business groups in the Visakhapatnam-Rajahmundry-Vijayawada region must revive the coastal shipping and inland waterways sector, Gravity 2.0, a forum of entrepreneurs in the region feel. Earlier, the region was known for its shipping and trade on the sea and also shipbuilding industry. However, with the passage of time, interest in it has dimin
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India consumes 3.5% more steel in April
Data from Joint Plant Committee (JPC), an arm of the union steel ministry, shows that the country's steel consumption grew 3.5 percent to 5.6 million tonne (mn t) in April 2013 from 5.4 mn t in the same month. Steel consumption in April 2013 is slightly more than the average 3.3 percent growth in 2012-13. The Indian economy consumed 73.3 mn t steel in the previous fiscal compared to 71 mn t in 2011
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Task force recommends projects worth over Rs 100 bn
The Odisha government's State Level Task Force on Steel recommended approval for investment proposals worth over Rs 10,000 crore in the steel sector. In a recent meeting, the task force decided that the investment would be approved by the Single Window Clearance Committee (SWLC) headed by Chief secretary
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Finished steel output rose 0.5% in Feb 2013
Union Minister of Steel Beni Prasad Verma informed that provisional data released by Joint Plant Committee (JPC) indicates that production for sale of total finished steel increased 0.5 percent in February 2013 as compared to a growth of 4.3 percent (and not 8.7 percent) in February 2012. In a written reply in the Rajya Sabha Verma said, Steel being a deregulated sector, the role of the government is that of a facilitator providing a conducive polic