Investment

Of the total US$35 billion loan advances given to developers in MMR, nearly US$8.7 billion (or 25%) is currently under ‘severe’ stress, writes Shobhit Agarwal, MD & CEO - ANAROCK Capital.

The Cabinet Committee on Economic Affairs has approved the transfer of administrative control of Brahmaputra Cracker and Polymer Limited (BCPL) to Ministry of Petroleum & Natural Gas to get 15-year subsidy of Rs.4,600 crore.

India has launched its first long distance CNG-fuelled bus for traveling around 1,000 kms in a single fill in light composite tanks made by India-US partnership.

The Cabinet was apprised of a Memorandum of Understanding between Saudi Arabia and India for setting up a framework for cooperation in the field of renewable energy such as technologies.

The Cabinet has approved the release Rs.627.40 crore for 10 projects sanctioned during 2018-19 and additional Rs.1,854.67 crore for sanctioning of new tourism infrastructure projects during 2019-20 under Swadesh Darshan Scheme.

Saudi Arabia and India share a commitment to expanding and liberalizing bilateral trade relations, said Saleh bin Nasser Al-Jasser, Saudi Minister of Transport in Mumbai on 23 Dec 2019.

L&T Technology Services Limited (LTTS) has won a multi-million-dollar project from one of the world’s top plastics, chemicals and refining manufacturers for the expansion of an existing site in Germany.

Four works of total 640-route-km at a total cost of Rs.1,810 crores have been sanctioned as pilot projects in Supplementary WP 2018-19 for extensive trials for Automatic Train Protection (ATP) System.

The Swiss government has authorized 2000Watt Smart City Association (2000WSCA) to represent and confer the international label 2000WattSite to townships, towns, cities and regions in India, attracting over US$1 billion investments in various industries setting up Pune as a start.

PHD Chamber of Commerce and Industry has urged the government for amendment in the definition of Micro, Small and Medium Enterprises (MSMEs) to rejuvenate economic growth.