Indian Economy Guide

Corporation Bank

noreply@blogger.com (foster) — Sun, 08 Nov 2009 18:38:00 +0000

The Corporation Bank was established in the year 1906 and is considered as one of the well-run banks in the comity of Public Sector Banks in the country. The Bank has a unique history of 100 years of successful Banking and has stood the test of time by growing steadily, offering vast, varied and versatile services with a personal touch. Today, its good customer service, pre-eminent track record in House Keeping, adherence to Prudential Accounting norms, consistent profitability and adoption of modern technology for betterment of customer service have earned the Bank a place of pride in the Banking Community.

The Bank has been richly endowed with a relatively young, dynamic and efficient manpower, which is the key factor of the Bank’s success. Excellence in performance and uniqueness in customer service form the central core of the Bank’s organisational culture. The growing confidence of its clientele is well reflected in the Bank’s performance in all critical areas of its operations all through the years.

The Bank is a Public Sector Unit with 57.17% of Share Capital held by the Government of India. The Bank came out with its Initial Public Offer (IPO) in October 1997. The Bank’s Net Worth stood at Rs.3,765.45 crore as on 31.03.2007.

Corporation Bank is the first Public Sector Bank to publish the results under US GAAP. The Bank has been publishing the results under the US GAAP since 1998-99. The net profit of the Bank and its subsidiaries under US GAAP for the year 2004-05 stood at Rs. 435.89 crore against consolidated net profit of Rs. 350.69 crore registered under Indian GAAP method

As on 31.03.07, the Bank has a highly dedicated team of 11,880 employees who have made the encouraging performance of the Bank possible by extending exemplary services to its customers. The Bank will continue its endeavours in the development of human capital so as to provide unmatched services to its clientele.

The Bank has better productivity levels than many of its peers in the Public Sector. The details of the manpower position and the productivity is given below

As on 31st March, 2007, the aggregate business of the Bank stood at Rs. 72,306 crore comprising Rs. 42,356 Crore Deposits and Rs.29,950 Crore Advances . With its strategic business focus and innovation, the Bank is striving for better performance in the coming years. The Bank has an ambitious plan to raise its total business level to Rs.1,00,000 crore by March 2009.

Standard Chartered Bank in India

noreply@blogger.com (foster) — Sun, 08 Nov 2009 18:25:00 +0000

Standard Chartered Bank in India is the largest international banking Group in India. The Combined Balance Sheet (as at March 31, 2001) of SCB India is Rs. 24515.9 cr. and is having a combined customer base of 2.4 million in retail banking and over 1200 corporate customers.

The key businesses of Standard Chartered Bank in India include consumer banking - primarily credit cards, mortgages, personal loans and wealth management - and - wholesale banking, where the Bank specializes in the provision of cash management, trade, finance, treasury and custody services.

Standard Chartered India was the first to issue first global credit card in India, the first to issue Photocard, the first Picture Card and was the first credit card issuer to be awarded the ISO 9002 certification.

History of Standard Chartered Bank

The Chartered Bank opened its first overseas branch in India, at Kolkata, on 12 April 1858. Eight years later the Kolkata agent described the Bank's credit locally as splendid and its business as flourishing, particularly the substantial turnover in rice bills with the leading Arab firms. When The Chartered Bank first established itself in India, Kolkata was the most important commercial city, and was the centre of the jute and indigo trades. With the growth of the cotton trade and the opening of the Suez Canal in 1869, Bombay took over from Kolkata as India's main trade centre. Today the Bank's branches and sub-branches in India are directed and administered from Mumbai (Bombay) with Kolkata remaining an important trading and banking centre.

Deutsche Bank

noreply@blogger.com (foster) — Sun, 08 Nov 2009 18:15:00 +0000

Deutche bank is one of the leading banks in the world with an asset base of Euro 964 billion and has a presence in 75 countries. For the last 135 years the bank has offered financial solutions to demanding customers in the world’s most dynamic markets. Today, Deutsche Bank is highly respected all over the world by individuals and corporates alike for its strong advisory approach and innovative banking services.

For the past 27 years, Deutsche Bank has made a mark in India in global markets, investment banking, global equities, asset management, corporate and transaction banking and private wealth management. It has partnered some of the country’s top corporations and leading institutions and our consistent performance and business focus has won us various awards - including:

The Best Investment Bank in India - by Euromoney in 2007
Best Debt House in India - by Euromoney in 2007
Best Cash Management Bank in South Asia - by Triple Asset Asian Awards in 2007
Best Private Bank in India - by Asiamoney Private Banking Polls in 2007
Award for Outstanding contribution towards the promotion of Indo-German economic relations - by the Indo-German Chamber of Commerce in 2006

In the 4th quarter of 2005, Deutsche Bank has launched its retail banking services in India with a comprehensive range of high quality-products and services to provide the customer an excellent banking experience. With db Financial Planning - Deutsche Bank’s sophisticated advisory service - customers will be empowered to have a 360° optimization of their finances.

Deutsche Bank is dedicated to excellence and has constantly challenged status quo to deliver superior solutions to its customers.

National Tourism Policy

noreply@blogger.com (foster) — Sun, 22 Mar 2009 18:17:00 +0000

National Tourism PolicyFor developing tourism in India in a systematic manner and to position it as a major engine of economic growth and to harness its direct and multiplier effects for employment and poverty eradication in an environmentally sustainable manner, the National Tourism Policy was formulated in the year 2002. Broadly, the “Policy” attempts to

Make tourism sector as a major engine of economic growth;
Garner the direct and multiplier effects of tourism for employment generation, economic development and providing impetus to rural tourism
Attention on domestic tourism as a major driver of tourism growth. Position India as a global brand to take advantage of the burgeoning global travel trade and the vast untapped potential of India as a destination;
Acknowledges the critical role of private sector with government working as a pro-active facilitator and catalyst;
Create and develop integrated tourism circuits based on India’s unique civilization, heritage, and culture in partnership with States, private sector and other agencies; and
Ensure that the tourist to India gets physically invigorated, mentally rejuvenated, culturally enriched, spiritually elevated and “feel India from within”.

Scheme for Product/Infrastructure and Destination Development

The focus under this scheme is on improving the existing products and developing new tourism products to world class standards. For infrastructure and product development, the Ministry of Tourism has been providing Central Financial Assistance to the State Governments during the 9th Five Year Plan which resulted in strengthening of the infrastructure and product development in the country.

The scheme has been restructured during the 10th Five Year Plan to meet the present day infrastructure requirements. The past experience had been that a large number of small projects had been funded under the Scheme, spreading the resources very thinly, which at times had not created the desired impact. The focus in the Tenth Plan has been to fund large projects of infrastructure or product development in an integrated manner.

Under the revised scheme, the destinations are carefully selected based on the tourism potential. Master planning of these destinations is undertaken so as to develop them in an integrated holistic manner. The master plan is suppose to tie up all backward and forward linkages, including environmental considerations.

Realizing the importance of destination development, the total outlay for this sector has been increased substantially. Important tourist destinations in each State, in consultation with the State Governments, are taken up for development. This include activities ranging from preparation of master plans to implementation of the master plans. The destinations are selected in consultation with the State/UT Governments.

Scheme for Integrated Development of Tourist Circuits

Under this Central Financial Assistance scheme the Ministry of Tourism Government of India has been extending assistance to States for development of tourism infrastructure. Experience has shown that in the past funds under the CFA have been used to fund a large number of small isolated projects, spread throughout the length and breadth of the country resulting in the resources being spread very thinly.

Therefore, in order to provide quick and substantial impact, during the 10th Five Year Plan, this new scheme of Integrated Development of Tourist Circuits have been taken up. The objective of the scheme is to identify tourist circuits in the country on an annual basis, and develop them to international standards. The aim is to provide all infrastructure facilities required by the tourists within these circuits. The Ministry of Tourism aim at convergence of resources and expertise through coordinated action with States/UTs and private sector.

Scheme of Assistance for Large Revenue Generating ProjectsIt is recognized that the development of tourism infrastructure projects requires very large investment that may not be possible out of the budgetary resources of the Government of India alone.

In order to remove these shortcomings and to bring in private sector, corporate and institutional resources as well as techno-managerial efficiencies, it is proposed to promote large revenue generating projects for development of tourism infrastructure in public private partnerships and in partnerships with other Government / Semi-Government agencies.

Large revenue generating project, which can be admissible for assistance under this scheme, should be a project, which is also a tourist attraction, or used by tourists and generates revenue through a levy of fee or user charges on the visitors. Projects like Tourist trains, Cruise vessels, Cruise Terminals, Convention Centres, Golf Courses etc. would qualify for assistance. However, this is only an illustrative list.

Hotel & Restaurant component will not be eligible for assistance under the scheme either on a stand-alone basis or as an integral part of some other project. Besides hotel & restaurants, procurement of vehicles and sports facilities like stadiums will also not be eligible for assistance under the scheme.

Scheme for Support to Public Private Partnerships in Infrastructure (Viability Gap Funding)

Developement of infrastructure require large investments that cannot be undertaken out of public financing alone. Thus, in order to attract private capital as well as techno-managerial efficiencies associated with it, the government is committed to promoting Public-Private Partnerships (PPPs) in infrastructure development. This scheme has been put into effect for providing financial support to bridge the viability gap of infrastructure projects undertaken through Public Private Partnerships.

Scheme for Market Development Assistance (MDA)

The Marketing Development Assistance Scheme (MDA), administered by the Ministry of Tourism, Government of India, provides financial support to approved tourism service providers (i.e. hoteliers, travel agents, tour operators, tourist transport operators etc., whose turnover include foreign exchange earnings also) for undertaking the following tourism promotional activities abroad:

Sales-cum-study tour
Participation in fairs/exhibitions
Publicity through printed material

Recent Initiatives

During 11th Five Year Plan (2007-2012) Ministry of Tourism propose to continue supporting creation of world class infrastructure in the country so that existing tourism products can be further improved and expanded to meet new market requirements and enhance the competitiveness of India as a tourist destination.

In consultation with the State Governments and UTs the Ministry of Tourism have identified several tourist circuits and destinations for integrated development. During the current financial year the Ministry has sanctioned so far Rs.323.00 crore for various projects throughout the country. This is an all time record and will facilitate timely execution of projects during the working season.

Some of the important infrastructure projects which have been sanctioned in the current financial year are:

Heritage Destinations/Circuits

MOT has recently sanctioned Rs.8.00 crore for the project of illumination/lighting of monuments in Rajasthan.
The tourist facilities at Sanchi and adjoining tourist places in Madhya Pradesh are being improved at a cost of Rs.4.64 crore.
Tourist Facilitation Centre, Public Amenities, Parking and Landscaping and Beautification of approach roads will be done.
The project of Development of Mahanadi Central Heritage (Rs.3.94 crore) has been sanctioned.
In this project Jetties, River Bank, Nature Trail, picnic area, etc. will be developed at various places along the river to enhance the experience of visitors to these destinations.
An Indian Freedom Circuit on Mahatama’s Park in West Bengal is being developed at a cost of Rs.2.27 crore.
The project Bijapur-Bidar-Gulbarg Circuit sanctioned at a cost of Rs.6.40 crore.
Art & Craft village at Goregaon film city has been sanctioned for an amount of Rs.3.86 crore.
Revitalization of Gandhi Thidal and Craft Bazar, Puducherry sanctioned recently for an amount of Rs.2.67 crore.
The project of Development of Srirangam Tamilnadu (Rs.3.72 lakh) has been sanctioned.
Development of Vallore fort area at a cost of Rs.0.89 crore. Sound & Talatal Ghar, Sivasagar in Assam (Rs.1.58 crore.) has been sanctioned.

Beach and Sea Tourism

MOT has sanctioned a project of Rs.5.00 crore for development and beautification of Beach Promenade in Puducherry.
Another project for development of walkway along the bank of river Arasalar and Vanjiiar in Karaikal, Puducherry (Rs.4.78 crore)
The project of Development of Marina bach in Tamilnadu has been sanctioned (Rs.4.92 crore).

Eco Tourism

A project of Eco tourism for development of Horsely Hill in Chittoor Distt. of Andhra Pradesh has been sanctioned.
The project of development of Satkosi in Orissa (Rs. 4.25 crore) has been sanctioned in which Interpretation Centre, Landscaping, Elephant camps, Trekking park, Watch Towers and parking facilities, etc. are proposed to be developed.
MOT has sanctioned a project for development of Eco tourism in Morni-Pinjore Hills and Sultanpur National Park in Haryana for which Rs. 2.63 crore have been sanctioned.
The project of Integrated Development of Tribal Circuit with special focus on Eco tourism in Spiti in Himachal Pradesh has been approved for Rs. 6.98 crore.
Development of Wayanad in Kerala for an amount of Rs.2.01 crore.
Development of Tourist Circuit (Western Assam Circuit) Dhubari-Mahamaya-Barpeta-Hajo has been sanctioned for an amount of Rs.4.97 crore.
Development of Mechuka Destination (Rs.4.41 crore in Arunachal Pradesh).
Development of Tourist Destination at Khensa at a cost of Rs.4.58 crore in Nagaland. Circuit - Udhyamandalam- Madumalai- Anaimalai, Tamil Nadu Rs.4.39 crore.

Projects for NE Region

The INA Memorial Complex at Moirang in Manipur is being renovated and tourist facilities are being developed (Rs.82 lakhs).
Tourism infrastructure is being developed near Pakhai Wildlife Sanctuary in Arunachal Pradesh (Rs. 5.00 crore) Gayaker Sinyi Lake at Itanagar is being developed at a cost of Rs.5.00 crore.
Tourist infrastructure is being developed in Nathula-Memmencho-Kuppu tourist circuit in Sikkim (Rs.4.54 crore)
MOT has sanctioned a project for development of Tizu Kukha as Adventure Destination in Nagaland (Rs.4.99 crore)
Projects for Jammu & Kashmir

MOT has sanctioned a project for development of tourism infrastructure in Leh (Rs.4.95 crore), Bungus Valley (Rs.2.31 crore), Kargil (Rs.4.84 crore), Poonch (Rs.4.50 crore), various villages around Sonmarg (Rs.1.08 crore), development of Gurez and Telail Valley (Rs.3.66 crore), Patnitop (Rs.2.83 crore), Dandi Pora (3.45 crore), Anantnag (Rs.2.1 crore), Shri Amarnath Yatra Marg (Rs.7.00 crore), Bhaderwah (Rs. 4.12 crore), Kishtwar (Rs. 2.81 crore), Wullar Lake (Rs.2.06 crore) and Rajouri (Rs.4.34 crore).

Tourist Information Centre, Public amenities, approach roads, shelters, signages , etc. will be developed in these projects so that tourists who are visiting Jammu & Kashmir should have trouble free experience the beauty and bounty of the region.

HSBC Bank

noreply@blogger.com (foster) — Sun, 15 Mar 2009 17:43:00 +0000

The beginning of the HSBC Group in India can be traced back to October 1853 when the Mercantile Bank of India, London and China was founded in Bombay with an authorised capital of Rs 5 million. Very soon, the Mercantile Bank started offices in London, Madras(Chennai), Colombo and Kandy, followed by Calcutta(Kolkata), Singapore, Hong Kong, Canton(Guangchow) and Shanghai by 1855. The following hundred years were in many ways propitious for the Mercantile Bank. In 1950 it moved into its new head office building in Mumbai.at Flora Fountain.

The acquisition in 1959 by The Hongkong and Shanghai Banking Corporation Limited of the Mercantile Bank was a decisive factor in laying the foundation for today's HSBC Group. Founded in 1865 to serve the needs of the merchants of the China coast and finance the growing trade between China, Europe and the United States, HSBC has been an international bank from its earliest days.

After the Mercantile Bank was acquired by The Hongkong and Shanghai Banking Corporation, the Flora Fountain building became and remains to this day, the Head Office of the HSBC Group in India.

Through the 1990s, HSBC has vigorously developed its role as one of the leading banking and financial services organisations in the world. Its strategy of 'managing for value' emphasises the Group's unique balance of business and earnings between older, mature economies and faster-growing emerging markets.

HSBC in India is proud to have retained the Group's pioneering streak by being an active partner in the development of the Indian banking industry - even giving India its first ATM way back in 1987. The organisation's adaptability, resilience and commitment to its customers have further enabled it to survive through turbulent times and prosper through good times over the past 150 years.

SEZ Policy of India

noreply@blogger.com (foster) — Sat, 07 Mar 2009 20:03:00 +0000

India was one of the first in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia's first EPZ set up in Kandla in 1965. With a view to overcome the shortcomings experienced on account of the multiplicity of controls and clearances; absence of world-class infrastructure, and an unstable fiscal regime and with a view to attract larger foreign investments in India, the Special Economic Zones (SEZs) Policy was announced in April 2000.

This policy intended to make SEZs an engine for economic growth supported by quality infrastructure complemented by an attractive fiscal package, both at the Centre and the State level, with the minimum possible regulations. SEZs in India functioned from 1.11.2000 to 09.02.2006 under the provisions of the Foreign Trade Policy and fiscal incentives were made effective through the provisions of relevant statutes.

To instill confidence in investors and signal the Government's commitment to a stable SEZ policy regime and with a view to impart stability to the SEZ regime thereby generating greater economic activity and employment through the establishment of SEZs, a comprehensive draft SEZ Bill prepared after extensive discussions with the stakeholders. A number of meetings were held in various parts of the country both by the Minister for Commerce and Industry as well as senior officials for this purpose. The Special Economic Zones Act, 2005, was passed by Parliament in May, 2005 which received Presidential assent on the 23rd of June, 2005.

The draft SEZ Rules were widely discussed and put on the website of the Department of Commerce offering suggestions/comments. Around 800 suggestions were received on the draft rules. After extensive consultations, the SEZ Act, 2005, supported by SEZ Rules, came into effect on 10th February, 2006, providing for drastic simplification of procedures and for single window clearance on matters relating to central as well as state governments. The main objectives of the SEZ Act are:

(a) generation of additional economic activity
(b) promotion of exports of goods and services;
(c) promotion of investment from domestic and foreign sources;
(d) creation of employment opportunities;
(e) development of infrastructure facilities;

It is expected that this will trigger a large flow of foreign and domestic investment in SEZs, in infrastructure and productive capacity, leading to generation of additional economic activity and creation of employment opportunities.

The SEZ Act 2005 envisages key role for the State Governments in Export Promotion and creation of related infrastructure. A Single Window SEZ approval mechanism has been provided through a 19 member inter-ministerial SEZ Board of Approval (BoA). The applications duly recommended by the respective State Governments/UT Administration are considered by this BoA periodically. All decisions of the Board of approvals are with consensus.

The SEZ Rules provide for different minimum land requirement for different class of SEZs. Every SEZ is divided into a processing area where alone the SEZ units would come up and the non-processing area where the supporting infrastructure is to be created.

The SEZ Rules provide for

• Simplified procedures for development, operation, and maintenance of the Special Economic Zones and for setting up units and conducting business in SEZs;
• Single window clearance for setting up of an SEZ;
• Single window clearance for setting up a unit in a Special Economic Zone;
• Single Window clearance on matters relating to Central as well as State Governments;
• Simplified compliance procedures and documentation with an emphasis on self certification
Approval mechanism and Administrative set up of SEZs
• Approval mechanism

The developer submits the proposal for establishment of SEZ to the concerned State Government. The State Government has to forward the proposal with its recommendation within 45 days from the date of receipt of such proposal to the Board of Approval. The applicant also has the option to submit the proposal directly to the Board of Approval.

The Board of Approval has been constituted by the Central Government in exercise of the powers conferred under the SEZ Act. All the decisions are taken in the Board of Approval by consensus. The Board of Approval has 19 Members. Its constitution is as follows:

(1) Secretary, Department of Commerce Chairman
(2) Member, CBEC Member
(3) Member, IT, CBDT Member
(4) Joint Secretary (Banking Division), Department of Economic Affairs, Ministry of Finance
(5) Joint Secretary (SEZ), Department of Commerce Member
(6) Joint Secretary, DIPP Member
(7) Joint Secretary, Ministry of Science and Technology Member
(8) Joint Secretary, Ministry of Small Scale Industries and Agro and Rural Industries Member
(9) Joint Secretary, Ministry of Home Affairs Member
(10) Joint Secretary, Ministry of Defence Member
(11) Joint Secretary, Ministry of Environment and Forests Member
(12) Joint Secretary, Ministry of Law and Justice Member
(13) Joint Secretary, Ministry of Overseas Indian Affairs Member
(14) Joint Secretary, Ministry of Urban Development Member
(15) A nominee of the State Government concerned Member
(16) Director General of Foreign Trade or his nominee Member
(17) Development Commissioner concerned Member
(18) A professor in the Indian Institute of Management or the Indian Institute of Foreign Trade Member
(19) Director or Deputy Sectary, Ministry of Commerce and Industry, Department of Commerce Member Secretary

(b )Administrative set up
The functioning of the SEZs is governed by a three tier administrative set up. The Board of Approval is the apex body and is headed by the Secretary, Department of Commerce. The Approval Committee at the Zone level deals with approval of units in the SEZs and other related issues. Each Zone is headed by a Development Commissioner, who is ex-officio chairperson of the Approval Committee.

Once an SEZ has been approved by the Board of Approval and Central Government has notified the area of the SEZ, units are allowed to be set up in the SEZ. All the proposals for setting up of units in the SEZ are approved at the Zone level by the Approval Committee consisting of Development Commissioner, Customs Authorities and representatives of State Government.

All post approval clearances including grant of importer-exporter code number, change in the name of the company or implementing agency, broad banding diversification, etc. are given at the Zone level by the Development Commissioner. The performance of the SEZ units are periodically monitored by the Approval Committee and units are liable for penal action under the provision of Foreign Trade (Development and Regulation) Act, in case of violation of the conditions of the approval.

Incentives and facilities offered to the SEZs

The incentives and facilities offered to the units in SEZs for attracting investments into the SEZs, including foreign investment include:-
• Duty free import/domestic procurement of goods for development, operation and maintenance of SEZ units
• 100% Income Tax exemption on export income for SEZ units under Section 10AA of the Income Tax Act for first 5 years, 50% for next 5 years thereafter and 50% of the ploughed back export profit for next 5 years.
• Exemption from minimum alternate tax under section 115JB of the Income Tax Act.
• External commercial borrowing by SEZ units upto US $ 500 million in a year without any maturity restriction through recognized banking channels.
• Exemption from Central Sales Tax.
• Exemption from Service Tax.
• Single window clearance for Central and State level approvals.
• Exemption from State sales tax and other levies as extended by the respective State Governments.
The major incentives and facilities available to SEZ developers include:-
• Exemption from customs/excise duties for development of SEZs for authorized operations approved by the BOA.
• Income Tax exemption on income derived from the business of development of the SEZ in a block of 10 years in 15 years under Section 80-IAB of the Income Tax Act.
• Exemption from minimum alternate tax under Section 115 JB of the Income Tax Act.
• Exemption from dividend distribution tax under Section 115O of the Income Tax Act.
• Exemption from Central Sales Tax (CST).
• Exemption from Service Tax (Section 7, 26 and Second Schedule of the SEZ Act).
SEZ Approval Status

Consequent upon the SEZ Rules coming into effect w.e.f. 10th February, 2006, Twenty-eight meetings of the Board of Approvals have since been held. During these meetings, formal approval has been granted to 531 SEZ proposals. There are 143 valid in-principle approvals. Out of the 531 formal approvals, 260 SEZs have been notified.
Land requirements for approved Special Economic Zones:

The total land requirement for the formal approvals granted till date is approximately 67680 hectares out of which about 109 approvals are for State Industrial Development Corporations/State Government Ventures which account for over 20853 hectares. In these cases, the land already available with the State Governments or SIDCs or with private companies has been utilized for setting up SEZ. The land for the 270 notified SEZs where operations have since commenced involved is approximately over 31405 hectares only.

Out of the total land area of 2973190 sq km in India, total agricultural land is of the order of 1620388 sq km (54.5%). It is interesting to note that out of this total land area, the land in possession of the 270 SEZs notified amounts to approximately over 314 sq km only. The formal approvals granted also works out to only around 676 sq km.

SEZs- leading to the growth of labour intensive manufacturing industry:

Out of the 531 formal approvals given till date, 174 approvals are for sector specific and multi product SEZs for manufacture of Textiles & Apparels, Leather Footwear, Automobile components, Engineering etc.. which would involve labour intensive manufacturing. SEZs are going to lead to creation of employment for large number of unemployed rural youth. Nokia and Flextronics electronics hardware SEZs in Sriperumbudur are already providing employment to 14577 and 1058 persons. Hyderabad Gems SEZ for Jewellery manufacturing in Hyderabad has already employed 2145 persons. majority of whom are from landless families, after providing training to them. They have a projected direct employment for about 2267 persons. Apache SEZ being set up in Andhra Pradesh will employ 20, 000 persons to manufacture 10,00,000 pairs of shoes every month. Current employment in Apache SEZ is 5536 persons. Brandix Apparels, a Sri Lankan FDI project would provide employment to 60,000 workers over a period of 3 years. Even in the services sector, 12.5 million sq meters space is expected in the IT/ITES SEZs which as per the NASSCOM standards translates into 12.5 lakh jobs. It is, therefore, expected that establishment of SEZs would lead to fast growth of labour intensive manufacturing and services in the country.

Benefits derived from SEZs

Benefit derived from SEZs is evident from the investment, employment, exports and infrastructural developments additionally generated. The benefits derived from multiplier effect of the investments and additional economic activity in the SEZs and the employment generated thus will far outweigh the tax exemptions and the losses on account of land acquisition. Stability in fiscal concession is absolutely essential to ensure credibility of Government intensions.

• Exports from the functioning SEZs during the last three years are as under:

Year Value (Rs. Crore) Growth Rate ( over previous year )
2003-2004 13,854 39%
2004-2005 18,314 32%
2005-2006 22 840 25%
2006-20007 34,615 52%
2007-2008 66,638 92%

(b) Investment and employment in the SEZs set up prior to the SEZ Act, 2005: At present, 1943 units are in operation in the SEZs. In the SEZs established prior to the Act coming into force, there are 1143 units providing direct employment to over 1.97 lakh persons; about 37% of whom are women. Private investment by entrepreneurs in these SEZs established prior to the SEZ Act is of the order of over Rs. 5626.24 crore.

(c)Investment and employment in the SEZs notified under the SEZ Act 2005:

Current investment and employment:

Investment: Rs. 83450crore
Employment: 1,13,426 persons

Impact of the scheme

The overwhelming response to the SEZ scheme is evident from the flow of investment and creation of additional employment in the country. The SEZ scheme has generated tremendous response amongst the investors, both in India and abroad, which is evident from the list of Developers who have set up SEZs:

• Nokia SEZ in Tamil Nadu
• Quark City SEZ in Chandigarh
• Flextronics SEZ in Tamil Nadu
• Mahindra World City in Tamil Nadu
• Motorola, DELL and Foxconn
• Apache SEZ (Adidas Group) in Andhra Pradesh
• Divvy's Laboratories, Andhra Pradesh
• Rajiv Gandhi Technology Park, Chandigarh
• ETL Infrastructure IT SEZ, Chennai
• Hyderabad Gems Limited, Hyderab

National Textile Policy -- 2000

noreply@blogger.com (foster) — Tue, 03 Mar 2009 14:33:00 +0000

PREAMBLE
Perceiving the role of the Textile Industry in providing one of the most basic needs of people and the importance of its sustained growth for improving quality of life;
Recognising its unique position as a self-reliant industry, from the production of raw materials to the delivery of finished products, with substantial value-addition at each stage of processing; and its major contribution to the country’s economy;
Realising its vast potential for creation of employment opportunities in the agricultural, industrial, organised and decentralised sectors & rural and urban areas, particularly for women and the disadvantaged;
Acknowledging the tremendous impetus provided by the Textile Policy of 1985 to the economy, resulting over these years in compounded annual growth rates of7.13% in cloth production, 3.6 % in the per capita availability of fabrics; and 13.32% in the export of textiles; raising the share of textiles to 13% of value added domestic manufacturing of the country; and to one third of the export earnings of the country,

Taking note of the new challenges and opportunities presented by the changing global environment, particularly the initiation of the process of gradual phasing out of quantitative restrictions on imports and the lowering of tariff levels for an integration of the world textile and clothing markets by end 2004, and the need for afocussed approach to maximizing opportunities and strengths inherent in the situation;

Having studied the issues and problems facing the sector, the views of a wide range of stakeholders, and the recommendations of the Expert Committee set up for this purpose;
Deciding to redefine the goals and objectives, focus on thrust areas and sharpen strategy in tune with the times,

The National Textile Policy – 2000 is enunciated as follows:

VISION
Endowed as the Indian Textile Industry is with multifaceted advantages, it shall be the policy of the Government to develop a strong and vibrant industry that can

Produce cloth of good quality at acceptable prices to meet the growing needs of the people
Increasingly contribute to the provision of sustainable employment and the economic growth of the nation; and
Compete with confidence for an increasing share of the global market.

OBJECTIVES
The objectives of the policy are to-

Facilitate the Textile Industry to attain and sustain a pre-eminent global standing in the manufacture and export of clothing;
Equip the Industry to withstand pressures of import penetration and maintain a dominant presence in the domestic market;
Liberalise controls and regulations so that the different segments of the textile industry are enabled to perform in a greater competitive environment;
Enable the industry to build world class state-of-the-art manufacturing capabilities in conformity with environmental standards, and for this purpose to encourage both Foreign Direct Investment as well as research and development in the sector;
Develop a strong multi-fibre base with thrust of product upgradation and diversification;
Sustain and strengthen the traditional knowledge, skills and capabilities of our weavers and craftspeople;
Enrich human resource skills and capabilities, with special emphasis on those working in the decentralised sectors of the Industry; and for this purpose to revitalise the Institutional structure;
Expand productive employment by enabling the growth of the industry, with particular effort directed to enhancing the benefits to the north east region;
Make Information Technology (IT), an integral part of the entire value chain of textile production and thereby facilitate the industry to achieve international standards in terms of quality, design and marketing and;
Involve and ensure the active co-operation and partnership of the State Governments, Financial Institutions, Entrepreneurs, Farmers and Non-Governmental Organisations in the fulfillment of these objectives.

THRUST AREAS
In furtherance of the objectives, the strategic thrust will be on:

Technological upgradation
Enhancement of Productivity
Quality Consciousness
Strengthening ofthe raw material base
Product Diversification
Increase in exports and innovative marketing strategies
Financing arrangements
Maximising employment opportunities
Integrated Human Resource Development

IMPORTANT TARGETS AND OUTPUTS
The endeavour will be to -

Achieve the target of textile and apparel exports from the present level of US $ 11 billion to US $ 50 billion by 2010 of which the share of garments will be US $ 25 billion.
Implement vigorously, in a time bound manner, the Technology Upgradation Fund Scheme (TUFS) covering all manufacturing segments of the industry;
Achieve increase in cotton productivity by at least 50% and upgrade its quality to international standards, through effective implementation of the Technology Mission on Cotton;
Launch the Technology Mission on Jute to increase productivity and diversify the use of this environment-friendly fibre;
Assist the private sector to set up specialised financial arrangements to fund the diverse needs of the textile industry;
Set up a Venture Capital Fund for tapping knowledge based entrepreneurs of the industry;
Encourage the private sector to set up world class, environment-friendly, integrated textile complexes and textile processing units in different parts of the country;
De-reserve the Garment industry from the Small Scale Industry sector;
Strengthen and encourage the handloom industry to produce value added items and assist the industry to forge joint ventures to secure global markets;
Re-design and revamp, during the 10th Five Year Plan, the Schemes and Programmes initiated in the handloom, sericulture, handicrafts and jute sector to ensure better returns for those belonging to the disadvantaged categories, and the North East and other backward regions of the country;
Facilitate the growth and strengthen HRD Institutions including NIFT (National Institute of Fashion Technology)on innovative lines;
Review and revitalise the working of the TRAs (Textile Research Associations) to focus research on industry needs; and
Transform, rightsize and professionalise all field organisations under the Ministry of Textiles to enable them to play the role of facilitators of change and growth.

SECTORAL INITIATIVES:
Within the framework of the Policy, the following sector – specific initiatives will be taken:

RAW MATERIALS
The thrust will be on improving the availability, productivity and quality of raw materials at reasonable prices for the industry. Necessary capabilities, including R & D facilities for improvement of fibre quality and development of specialised fibres/yarns.The endeavour will be to make available different varieties (from standard to specialised) of textile fibres/yarns of internationally quality at reasonable prices. The multi-fibre approach of providing full fibre flexibility will be continued.Though cotton is expected to continue to be the dominant fibre, special attention will be given to bring the balance between cotton and non-cotton fibres closer to international trends.

Cotton
The primary aim will be to improve production, productivity and quality, and stabilise prices. The Technology Mission on Cotton will be the instrument for achieving these parameters. Ministry of Textiles, Ministry of Agriculture, Cotton growing States, farmers and industry associations will be actively involved in the implementation of this Mission.

Man-Made Fibre
Full fibre flexibility between cotton and man-made fibres and consumption of specialisedman-made fibres/yarns will be encouraged. Non-standard denierages in man-made filament yarn and spun yarn will be phased out and BIS standards harmonised with world standards. Special attention will be given to the production of fibres required for technical textiles.

Silk
Focus will be on achieving international standard in all varieties of silk.Steps will include

Improving Research & Development and the effective transfer of technology at all stages;
Considerably improving the production of non-mulberry varieties of silk;
Augmenting efforts for the spread of bivoltine sericulture;
Encouraging clustering of activities of reeling and weaving and strengthen linkages between the producers and industry;
Periodically reviewing the import policy for raw-silk taking into account the balanced interests of the sericulturists as well as the export manufacturers.

Wool
In order to augment availability of quality wool, the following measures will be initiated:

Take up collaborative research projects with the leading wool producing countries of the world;
Encourage private breeding farms to increase productivity;
Promote private sector linkages for marketing of wool;
Establish pre-loom and post-loom processing facilities;
Take up an integrated development programme for angora wool.

Jute

Government recognises the significance of jute in India’s economy, especially for the Eastern and North-eastern parts of the country.Realising the problems of the jute economy and the need to make it more competitive, a Technology Mission on Jute will be launched to achieve the following

objectives:

Develop high yielding seeds to improve productivity and acceptability in markets;
Improve retting practices to get better quality fibre;
Transfer cost effective technologies to the farmers;
Create strong market linkages;
Expand the scope for marketing of diversified jute products within the country and abroad.

Spinning Sector
Despite the thrust given by the Textile Policy of 1985 to the spinning sector, resulting in considerable modernisation, 80 percent capacity utilisation, and a 20 percent share of global cotton yarn exports, cotton spinning still suffers the problems of over-capacity and of obsolete spindleage. This policy will continue the effort to modernise and upgrade technology to international levels, and take the following steps, in cotton spinning as well as the worsted

woollen sectors:

Encourage the spinning sector to continue to modernise;
Liberalise and encourage export of cotton yarn; and
Review from time to time the hank yarn obligation while ensuring supply of adequate quantity of yarn to the handloom sector.

Weaving Sector

Despite a 58% global share of looms, consisting of 3.5 million handlooms and 1.8 million powerlooms, technology still remains backward. This sector, critical to the survival of the Indian textile industry and its export thrust, will be rapidly modernised. Clustering of production facilities in the decentralised sector will be encouraged to achieve optimum size and adopt appropriate technology.
The Government will facilitate harmonious development of all the segments of the fabric manufacturing sector.The balanced growth of these sectors will be achieved based on their intrinsic strengths and capacity to meet the demands and requirements of the domestic as well as international markets.

Organised Mill Industry
Efforts will be made to restore the organised mill industry to its position of pre-eminence to meet international demand for high value, large volume products.For this purpose, the following measures will be initiated:

Integration of production efforts on technology driven lines;
Encouragement to setting up of large integrated textile complexes;
Strategic alliances with international textile majors, with focus on new products and retailing strategies;
Creation of awareness and supportive measures for application of IT for upgradation of technology, enhancement of efficiency, productivity and quality, better working environment and HRD.

Government recognises that employment protection in a terminally sick industrial unit is neither conducive to efficient allocation of scarce resources nor incremental employment generation.Hence, emphasis will be laid on a pragmatic and rational exit policy with adequate protection of the workers’ interests. Appropriate measures will be taken, including review of the existing Textile Workers' Rehabilitation Fund Scheme, to mitigate the problems of displaced workers, on whom the consequences of closure of private mills, with no terminal or statutory benefits being given, have been serious.

The earlier policy of not taking over/nationalising sick units will be continued. As regards the unviable Public Sector Undertakings such as National Textile Corporation and National Jute Manufacture Corporation, various options for strategic partnerships or privatisation will be explored. Non-viable mills will be closed down with provision for an adequate safety-net for the workers and employees.

Powerloom Industry

The powerloom sector occupies a pivotal position in the Indian textile industry.However, its growth has been stunted by technological obsolescence, fragmented structure, low productivity and low-end quality products. The focus will therefore be on
Technologyupgradation;
Modernisation of Powerloom Service Centres and testing facilities;
Clustering of facilities to achieve optimum levels of production;
Welfare schemes for ensuring a healthy and safe working environment for the workers.

Handloom Industry
The handloom sector is known for its heritage and the tradition of excellent craftsmanship. It provides livelihood to millions of weavers and craftspersons.The industry has not only survived but also grown over the decades due to its inherent strengths like flexibility of production in small quantities, openness to innovation, low level of capital investment and immense possibility of designing fabrics.Government will continue to accord priority to this sector.Steps would be taken to promote and develop its exclusiveness for the global market. Measures will include the following:

training modules will be developed for weavers engaged in the production of low value added items, who may not be able to survive the competition consequent onglobalisation, with the objective of upgrading their skills to enable them to find alternate employment in the textile or other allied sector;
comprehensive welfare measures will continue to be implemented in close cooperation with the State Governments, for better working environment and the social security of the weavers;
effective support systems in research and development, design inputs, skill upgradation and market linkages will be provided;
the implementation of the Hank Yarn Obligation Order and the Reservation Orders issued under the Handloom ( Reservation of Articles for Production) Act 1985 will be reviewed keeping in mind the needs of the handloom weavers.
Weavers Service Centres will be revamped in consonance with the contemporary trends, and, using Information Technology for efficacy, their activities suitably dovetailed with activities of centres of design excellence like NIFT and NID;
s merchandising and marketing will be central to the success of the handloom sector, the present package of schemes for production of value added fabrics will be streamlined; innovative market-oriented schemes will be introduced; and joint ventures encouraged both at the domestic and international levels. Brand equity ofhandlooms will be commercially exploited to the extent possible.

Knitting

Hosiery knitting, growth of which accelerated during the last decade, primarily because of expansion of hosiery into global fashion knitwear is expected to expand into the apparel and home furnishing sectors.In this segment, the following measures will be taken:

Review of the Policy of SSI Reservation for this sector;
Encouragement toTechnology Upgradation and expansion of capacity; and
Introduction of support systems for commercial intelligence, design and fashion inputs.

Carpets

While machine-made carpet manufacturing in the mill sector will be guided by the policy framework for the organised industry, the policy for hand knotted carpet sector will focus on sustained growth of exports and welfare of weavers and their children. Encouragement will be given to the manufacture of products that conform to and bear the 'KALEEN' mark of standards, with insistence on compliance with the provisions of the Child Labour (Prohibition and Regulation) Act, 1986. Government intervention will be on technology upgradation including indigenisation of machines; development of testing facilities; and use of natural dyes. Adaptation of traditional motifs and promotion of brand image would constitute thrust areas.

Made-ups
The made-ups sector will be given the status and importance it deserves by virtue of occupying the highest position in the textile value addition chain alongside garments.The approach for growth of this sector will be to-

make available defect free and colour-fast processed fabrics;
·acilitate product development, production and marketing arrangements;
place emphasis on quality and packaging; and
Expand facilities for machine dyeing and finishing of the yarn that is used for made ups from handloom fabrics;

Processing and Finishing

Processing is the weakest link in the textile production chain, and results in loss of potential value. To bring about the necessary improvement

Government will encourage setting up of modern processing units, meeting international quality and environmental norms;
the network of CAD/CAM, computerised colour matching and testing facilities will be expanded, particularly in the clusters of the decentralised textile centres;
research support will be extended in achieving ISO 9000 and ISO 14000 standards; and
thrust will be given on development of eco-friendly dyes, including natural and vegetable dyes, and on energy conservation.

Clothing
The role of this sector is poised for radical changes in view of the changes in the international trading environment brought about by the rules and regulations of the WTO. The industry will be restructured as follows:

the office of the Textile Commissioner will focus attention on the development of the garment industry;
garment industry will be taken out of the SSI reservation list;
joint ventures and strategic alliances with leading world manufacturers will be promoted;
schemes with necessary infrastructural facilities for the establishment of textile/apparel parks will be designed with the active involvement of State Governments, Financial Institutions and the private sector; and
setting up of strong domestic retail chains to ensure easy availability of branded Indian products will be encouraged.

Jute Industry
The jute industry in India is beset with many problems, including competition from the synthetic sector, high labour cost, obsolescence of machinery and uneconomic working. These factors have led to large scale sickness in the industry.

The approach for the jute sector will be directed towards reviving the jute economy through supportive measures covering research and development; technology upgradation; creation of infrastructure for storage and marketing of raw jute; and product and market development activities for jute and diversified jute products.

The Mandatory Jute Packaging Order will be reviewed from time to time in the interest of the jute farmers, jute industry and the end-user sectors. Simultaneously, steps will be taken to enable the industry to become cost and quality competitive in domestic and international markets based on the inherent strength of jute as an environment-friendly fibre.

Organisations like JMDC (Jute Manufacturers Development Council) and NCJD (National Centre for Jute Diversification) specifically set up for the overall growth and development of the industry will be appropriately strengthened.

Technical Textiles
Considering the growing prospects for technical textiles world wide, priority will be accorded for their growth and development. The focus will be on R& D efforts and augmentation of raw material production. Standards will be set to facilitate adherence to stringent functional requirements.

Exports
Textile exports play a crucial role in the overall exports from India. With theobjective of increasing exports to US $ 50 billion by 2010 from the present level of US $ 11 billion, the thrust will be on:

establishing a multi-disciplinary institutional mechanism to formulate policy measures and specific action plans, including thoserelating to the WTO; and closely monitoringfinancing proposals;
forging of strategic alliances for gaining access to technology;
operating a brand equity fund exclusively for textile and apparel products, consistent with WTO norms.
restructuring AEPC and other Export Promotion Councils play the role of facilitators and professional consultants;
developing infrastructural facilities in the predominantly textile and apparel export oriented areas in close co-operation with State Governments and Financial Institutions and the private sector; and
evolving a suitable mechanism to facilitate industry associations to deal with disputes under the various agreements of the WTO.

Handicraft Exports
Continued and focussed attention will be given to handicrafts to enable the sector to increase both its contribution to exports and its productive employment. Initiatives will include upgradation of skills, creation of better work environment, design and technology intervention, development of clusters for specific crafts with common service facilities, improvement in infrastructure, and market development.

OTHER THRUST AREAS

Information Technology (IT)

Recognising the vital role of IT in a progressively IT-driven global economic environment, as also its scope in bringing about speed, efficiency and transparency in delivery systems, Government will play a proactive role in promoting and facilitating adoption of IT in the textile industry and trade.Using IT as the platform, a strong commercial intelligence network will be built up and suitable infrastructure for harnessing the potential of e-commerce will be put in place.

Human Resource Development
HRD assumes new significance with inescapable competition facing Indian textile products both in the international and domestic markets. Government will support programmes of organisations and institutions engaged in HRD that address theprofessional manpower needs of the industry, as well as at the cutting edge level of workers and shop-floor supervisors. Institutions will be encouraged to network and synergistically co-operate amongst themselves. IT will become an integral part of HRD effort.

In recognition of the pioneering role of NIFT, the Institution will be assisted to grow and progress on innovative lines. The Nodal Centre for Upgradation of Textile Education (NCUTE) will be helped to grow into an autonomous National level TexEd Resource Centre. Information and expertise available in technical institutes like IITs, TITsand NIDwill be tapped for expansion of programmes.

Fiscal and Financing arrangements.
A growth-oriented fiscal road map will be drawn up, which has the advantage of predictability. The parameters within which the multi-level duty structure and rates of levies will be reviewed and rationalised will include the thrust on exports, the fiscal regime of major competing countries, WTO consistency, and the need to keep prices at levels affordable to the largely poor consumers, who will continue to form the bulk of the market.

Funding requirements of different segments of the textile industry will be periodically reviewed and short-term and long-term requirements spelled out, particularly of the handloom, powerloom, handicrafts and sericulture sectors. Innovative measures for tapping public and private sector funding will be worked out.The endeavor will be to

Encourage the private sector to take the initiative in participating in financing of specific needs of the textile industry;
Set up a Venture Capital Fund in consultation with and involvement of financial institutions for the promotion of talented Indian Designers, Technologists, innovative market leaders and e-commerce ventures;

Delivery mechanisms for Implementation of the Policy:
Organisations working under the Ministry of Textiles will be re-oriented, rightsized and restructured to act as facilitators instead of regulatory bodies, with the mandate and role of each being reviewed and redefined over the next two years. Simultaneously, regulations and controls will be reviewed and progressively reduced.

Some of the specific changes will be:

The role of the Offices of the Textile Commissioner and Jute Commissioner will be moulded to serve the developmental needs of the industry;
Export Promotion Councils will be restructured so as to become capable of devising dynamic export strategies; promoting financing; disseminating information on various aspects of the WTO agreements; extending legal advice to trade and industry in dispute settlements, etc.
All the nine Textile Research Associations under the Ministry of Textiles will be revamped to give a market and industry driven focus to their Research and Development support.
The role of the Central Silk Board will be restructured in keeping with the objective of participative implementation in partnership with the State Governments and the private sector.
The Government is committed to providing a conducive environment to enable the Indian textile industry to realise its full potential, to achieve global excellence, and to fulfil its obligation to different sections of the society. In the fulfilment of these objectives, Government will enlist the co-operation and involvement of all stakeholders and ensure an effective and responsive delivery system.

American Express Bank India

noreply@blogger.com (foster) — Mon, 02 Mar 2009 16:39:00 +0000

Established in 1921, American Express Bank India, is recognized for its qualitative travel and financial services. The American Express Bank India issues a wide range of cards and travelers cheques for the convenience of their valued clients. This is the largest company to have an extensive network of traveling points all over the country. The bank has entered into a Memorandum of Understanding (MoU) with the postal department to enable some specified speed post offices in distributing and encashing American Express Travellers Cheques.

Activities:
The credit cards issued by the American express bank in India are of two types:
International Gold Amex Card
International Green Amex Card

The members of the American Express India Card enjoy discounts of 3% to 7% on airline tickets, convenience of booking tickets over the phone and 40% discounts on overseas hotel rates.

Types of Cards
The cards issued by the American Express Bank India are: the American Express E-Credit Card, American Express Credit Card, American Express Gold Credit Card, American Express Card, American Express Gold Card, American Express Platinum Card, MTNL American Express Credit Card, India Today Group American Express Credit Card, Indian Airlines American Express Green Card, Indian Airlines American Express Gold Card, Indian Medical Association (IMA) American ExpressÂ Credit Card for medical professionals and The Institute of Cost and Works Accountants of India (ICWAI) American ExpressÂ Credit Card for Cost and Work accountants.

American Express Travelers Cheques
The American Express Bank also issue the American Express Travelers Cheques which is recognized worldwide and are safer to handle than cash. American Express Travelers Cheques are replaced worldwide within 24 hours in case of lost or theft. They are available in a variety of currencies like the Australian Dollar, Canadian Dollar, Euro, Japanese Yen, Saudi Riyal, South African Rand, Swiss Franc, Pound Sterling and US Dollar.

Other Services
The American Express Bank India also provides personal banking services like

Savings

Current and Term Deposit Accounts

Personal Loans and Investment Services.

Corporate Office:
American Express Bank Ltd.,
A,A1,A2 Enkay Centre,
Udyog Vihar Phase V,
Gurgaon,
Haryana – 122016 Website:

www.americanexpress.com/india

New Changes in FDI Norms (2009-2010)

noreply@blogger.com (foster) — Mon, 02 Mar 2009 16:05:00 +0000

Recently in the beginning of 2009, the government of India further relaxed the norms for foreign direct investment (FDI) in various sectors. As per new norms, various sectors such as commodity exchanges, credit information and aircraft maintenance are opened for overseas investors while hiking the ceiling for investment in public sector oil refineries.

Revised FDI policy would now permit 100 per cent foreign investment in maintenance, repair and overhauling (MRO) facilities for aircraft as also aviation training units.

100% Foreign investment will henceforth be permitted in mining of titanium bearing minerals and up to 49 per cent in credit information companies. However, for investment in credit information companies, the permission of the Reserve Bank of India (RBI) will be necessary.

The new FDI policy has also done away with the norms of 26 per cent compulsory equity divestment in fuel and gas trading ventures. Hitherto, 100 per cent FDI was allowed on the automatic approval route, subject to the condition that 26 per cent equity in such ventures is disinvested within five years in favour of an Indian partner.

FDI in public sector refineries has also been raised to 49 per cent from its existing cap of 26 per cent.

In order to strengthen the industrial sector, the Cabinet also decided to exempt foreign investors from certain regulatory norms such as minimum capitalization and the three-year lock-in period. Alongside, for construction development projects, investments by registered foreign institutional investors (FIIs) under the portfolio investment scheme are also to be treated as distinct from FDI. In effect, the investments by FIIs would now be outside the purview of certain restrictive norms applicable to FDI. However, the government is to provide a detailed clarification in this regard later.

Scope for higher FDI
49 per cent FDI ceiling for commodity exchanges has further been divided.
While the investment ceiling for FDI has been pegged at up to 26 per cent that for FIIs has been fixed at 23 per cent, subject to the condition that no single investor would be permitted to hold a stake of more than five per cent.

For in credit information services (CICs) companies, FIIs would be allowed to invest up to 24 per cent in firms listed on the stock exchanges and this would have to be within the 49 per cent ceiling. Apart from this, ‘Credit Reference Agencies’ are to be deleted from the list of non-banking finance companies (NBFCs) activities permitted for FDI up to 100 per cent under the automatic route.

Regarding the civil aviation sector, the existing FDI cap at 49 per cent on the automatic route and 100 per cent for NRIs is to continue with no direct or indirect participation by foreign airlines and it has been reclassified as ‘Domestic Scheduled Passenger Airline’ sector. For non-scheduled airlines, chartered and cargo airlines, the FDI cap is at 74 per cent on the automatic route and 100 per cent for NRIs. The same norms are to apply for ground handling services. Subject to sectoral regulations and security clearance.

Considered as one of the most favourite investment destinations, the FDI inflow into is expected to touch $ 30 billion this fiscal year (2009-2010)

ABN AMRO Bank in India

noreply@blogger.com (foster) — Sun, 01 Mar 2009 18:49:00 +0000

In terms of size and strength, ABN AMRO Bank ranks among the top 10 banks in the world. It has over US $504 billion and an AA credit rating. The bank has wide global coverage consisting of over 3,568 branches and offices in over 320 cities and 76 countries and territories, with over 100,000 highly qualified staff. The bank is truly global and is capable of handling the most complicated cross-border transactions.

Operation India
ABN AMRO bank is traditionally known as a strong diamond financing bank. It offers unparalleled suite of client services in India.

ABM AMRO provides a broad range of transaction banking products, fixed income and foreign exchange products and services including sales and trading, fixed income origination, derivatives, structured lending and commodity financing.

For the Business Banking clients, the bank offers top quality services in trade finance, business loans, supply chain management, credit facilities, payment and cash management- solutions that help small to medium size businesses enhance cash flow, boost overall business efficiency and capitalize on new opportunities.

Through a diverse range of product offerings including personal loans, credit cards, savings accounts, financial planning, investment and insurance services, ABN AMRO meets the everyday financial needs of over a million Personal Banking clients in India.

In addition ABN AMRO has Van Gogh Preferred Banking which represents a new standard of relationship banking which has been exclusively created to offer an enhanced level of service to demanding individuals. Van Gogh Preferred Banking services offers a wide range of wealth maximization opportunities offering new standards of freedom, access, advice and service.

At ABN AMRO Broking world class research, timely advice, extreme ease of use and swift real time transaction systems for the clients is offerd.

Private Banking Services in India offers select and premium clients a comprehensive range of quality Portfolio Advisory Services along with a sophisticated execution platform. The banks helps enhancing their wealth with premium services including investment advisory, non-discretionary portfolio management, investment funds, international estate planning and trust.

Asset Management in India is among the fastest growing asset managers with just two years of operations in the country. In a very short span of time the bank developed ever-increasing and widening distribution and aim to emerge as a leading player in the Indian asset management industry.

The Microfinance program of ABN AMRO, the largest amongst its peer foreign banks in India, is aimed at delivering credit to our target community of rural poor woman through intermediaries called microfinance institutions. The bank today service 26 MFIs across 16 states in India with over 390,000 customers receiving micro financing small loans of USD 200 or less.

Website http://www.abnamro.co.in/

Contact Addresses

Ahmedabad
ABN AMRO Bank N.V.Viva Complex,Opp. Parimal Garden,Ellisbridge, Ahmedabad - 380 006Fax: +91-79-26422511

Bangalore
ABN AMRO Bank N.V.'Prestige Towers', Ground floor,99 & 100, Residency Road,Bangalore 560 025. Fax: +91-80-41477576

Baroda
ABN AMRO Bank N.V. 7 Alkapuri, R C Dutt Road,Baroda 390007Fax: +91-265- 2355900 / 2356000

Chennai
ABN AMRO Bank N.V.19/1, Haddows RoadNungambakkam,Chennai - 600 006Fax : +91-44-28240951

Gurgaon
ABN AMRO Bank N.V.Vatika First India PlaceTower B Ground FloorBlock A Sushant Lok Phase IMehrauli Gurgaon RoadGurgaon - 122 002HaryanaFax: +91-124-4062333

Hyderabad
ABN AMRO Bank N.V.6-3-248/1/1/ARoad No. 1Banjara HillsHyderabad 500034Fax: +91-40-66663131

Kolhapur
ABN AMRO Bank N.V.Ground floor, Anant Towers1115 K-1 Shahupuri,Kolhapur - 416 001Fax: +91-231-6612940

Kolkata
ABN AMRO Bank N.V.18 A, Brabourne Road, Kolkata 700 001Fax: +91-33-2234 3310 / 22343312
ABN AMRO Bank N.V.Azimganj House,7Camac Street,Kolkata 700 017Fax: +91-33-22820844
ABN AMRO Bank N.V.CD-16, Sector-1,Salt Lake City,Kolkata - 700 064Fax: +91-33-23196010

Lucknow
ABN AMRO Bank N.V.ABN AMRO House,93 M.G.Marg,Lucknow - 226 001Fax: +91-522-3982555

Mangalore
ABN AMRO Bank N.V.Maximus Commercial Complex,Light House Hill Road,Mangalore - 575001Fax: +91-824 -2422782

Moradabad
ABN AMRO Bank N.V.GF1 Parasnath Plaza IINeelgiri Commercial Complex Delhi Road Moradabad - 244 001Fax: +91- 591-2480748

Mumbai
ABN AMRO Bank N.V.Brady House14 Veer Nariman RoadFort, Mumbai 400 023Fax: +91-22-22841234
ABN AMRO Bank N.V.Sakhar Bhavan,Nariman Point,Mumbai 400 021.Fax: +91-22-2281 8252
ABN AMRO Bank N.V.Ground & First Floor, DURU HOUSEJuhu Tara Road, JuhuMumbai 400 049.Fax: +91-022-6702 0285

Nasik
ABN AMRO Bank N.V.21, Krushinagar, College Road,Nasik - 422 005Fax: +91-253-660 9988

New Delhi
ABN AMRO Bank N.V.Hansalaya Building,15,Barakhamba Road,New Delhi 110001Fax: +91-11-23755470
ABN AMRO Bank N.V.M-6 Hauz Khas, New Delhi 110016Fax: +91-11-41655886
ABN AMRO Bank N.V.R-67Greater Kailash-I,New Delhi 110048Fax : +91-11-41731838
ABN AMRO BANK N.V. ,J-12/11 Rajouri Garden,New Delhi -110027Fax : +91-11- 41440055

Noida
ABN AMRO Bank N.V.Ocean Heights, K - 4 Sector 18,NOIDA 201 301 Fax: +91-120-2517447
Panipat
ABN AMRO Bank N.V. Showroom #1196/7(Part),Opp. N.K. Tower,G.T. Road, Panipat-132103.Fax :+91-180-4016326

Pune
ABN AMRO Bank N.V.327, Mahatma Gandhi Road,Pune Camp,Pune 411001Fax: 91-20-26139734

Salem
ABN AMRO Bank N.V 103/1D5 Sriram Nagar,Saradha College RoadSalem 636 016 Fax : +91-427-4554416

Surat
ABN AMRO Bank N.V.Upper Ground FloorK G HouseGhod Dod RoadSurat 395 007Fax:+ 91-261-2257147

Tirupur

ABN-AMRO Bank N.V.No 16, G.G. Towers,Kumaran Road,Tirupur - 641601Fax :+91-421-2233112

Udaipur
ABN-AMRO Bank N.V.
"SHUBH Appt" Ground Floor , Plot No. 99, L Road, Bhupalpura, Verma Circle, Opp. Collector Bungalow, Udaipur - 313001 Fax: +91-294-5103883

Axis Bank

noreply@blogger.com (foster) — Sun, 01 Mar 2009 18:26:00 +0000

Axis Bank, started its operations in 1994, after the Government of India allowed new private banks to be established. The Bank was promoted jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life Insurance Corporation of India (LIC) and General Insurance Corporation Ltd. and other four PSU companies, i.e. National Insurance Company Ltd., The New India Assurance Company, The Oriental Insurance Corporation and United Insurance Company Ltd.

The Bank today is capitalized to the extent of Rs. 358.97 crores with the public holding (other than promoters) at 57.59%.

The Registered Office of the bank is at Ahmedabad and its Central Office is located at Mumbai. Currently, the Bank has a very wide network of more than 729 branch offices and Extension Counters. The Bank has a network of over 3171 ATMs providing 24 hrs a day banking convenience to its customers. This is one of the largest ATM networks in the country.

The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence.

Few milestones of the Axis bank:

Mar '07 : Axis Bank joins hands with IIFCL to provide leverage for infrastructural projects in the country.
Mar '07 : AXIS Bank comes up with full license bank branch in Hong Kong.
Feb '07 : Finance minister Shri P. Chidambaram introduces Shriram – AXIS Bank Co - Branded Credit Card especially for Small Road Transport Operators (SRTOS).
Aug'06 : AXIS Bank holds the position of being the first Indian Bank to successfully issue Foreign Currency Hybrid Capital in the International Market.
Aug '06 : AXIS Bank launches the beneficial scheme of issuance of "Senior Citizen ID Card" in collaboration with Dignity Foundation.
Dec '05 : AXIS Bank adds International Financing Review (IFR) Asia 'India Bond House' award for the year 2005 in its appreciation record.
Jul '05 : AXIS Bank and Visa International launch Mobile Refill facility - Anytime, Anywhere Pre-Paid Mobile Refill for all Visa Cardholders in India.
Mar '05 : AXIS Bank gets counted on the London Stock Exchange, raises US$ 239.30 million through Global.

Contact Details
The Central Office
Axis Bank Limited,
131, Maker Tower - F,
Cuffe Parade,
Colaba,
Mumbai - 400 005.
Tel: (022) 6707 4407
Fax: (022) 2218 1429

The Company Secretary
Axis Bank Limited,
"TRISHUL", Third Floor,
Opp. Samartheshwar Temple,
Nr. Law Garden, Ellisbridge,
Ahmedabad - 380 006

Investor Grievance Redressal
For Depository Services related complaints, please mail to dp.operations@axisbank.com

Investor relations
For queries relating to financial statements, please mail to shishir.mankad@axisbank.com

Complaints

For Credit Card related complaints, please mail to crcd@axisbank.com

For Wealth Management related complaints, please mail to axiswealth@axisbank.com
For Internet Banking and SPAM Mails related complaints, please mail to ibrm@axisbank.com

Queries

For Mobile Banking queries, please contact mobile.banking@axisbank.com
For NRI Related queries, please contact nricell@axisbank.com

Lost Cards

For lost Credit Card, call 022-25261201 or 18604258888
For lost Debit Card, call 022-67987700

ICICI Bank

noreply@blogger.com (foster) — Sun, 01 Mar 2009 18:12:00 +0000

ICICI Bank is India's second-largest bank with the total assets of Rs. 3,744.10 billion (US$ 77 billion. In 2008, the bank earned the robust profit after tax of Rs. 30.14 billion. ICICI Bank is second amongst all the companies listed on the Indian stock exchanges in terms of free float market capitalisation. The Bank has a network of 1,416 branches and about 4,644 ATMs in India and presence in 18 countries.

ICICI Bank provides vast range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management.

Subsidiaries
The Bank currently has subsidiaries in the United Kingdom, Russia and Canada, branches in Unites States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established a branch in Belgium.

ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).

Services

Deposits
Loan
Cards
Investments
Insurance
Demat Services
Online Service
Wealth Management

Union Bank of India

noreply@blogger.com (foster) — Sun, 01 Mar 2009 16:42:00 +0000

UNION BANK OF INDIA saw its birth in the dawn of twentieth century that was flagged off by none other than the Father of the Nation, Mahatma Gandhi.

The Bank has a lean three-tier structure. The delegated powers have been enhanced. The decentralised power structure has accelerated decision-making process and thereby Bank quickly responds to changing needs of the customers and has also been able to adjust with the changing environment.

Services

Personal Banking
NRI Banking
Corporate Banking
Internet Banking
Retail and Loans
Credit Cards
Insurance and Investment
Demat
Saving and Deposits

The Union Bank of India has been offering its valuable services to various agencies such as:

Government Business
Social Banking & Financial Inclusion
Small Farmers' Agri-Business Consortium (SFAC
PM Minority Welfare Scheme
Insurance
Mutual Fund
Non-Life Insurance
RTGS/NEFT/ECS
Other Services

Contact Information
Head Office
Union Bank of India
239 Vidhan Bhavan Marg,
Central Office,
Nariman Point,
Mumbai -21

Help - Internet Banking
Customer Support eBanking,
Transaction Banking Department,
Union Bank Bhavan, 239, Vidhan Bhavan Marg,
Mumbai 400021, INDIA.
Phones:+91 22 22896660,+91 22 22892175 , +91 22 22049444

Fax: +91 22 22043654 Email: internetbanking@unionbankofindia.com

(YOU MAY ALSO CONTACT US ON 022-22896674)

ATM CALL CENTER
Toll Free Number: 1800226900
Telephone No. +91 22 22049444
Or
mail at: atmcallcenter@unionbankofindia.com

24-Hour Customer Call Center
In the event of loss or theft of your Union Bank International Debit Card or for any assistance, please contact us on 022- 67040260. (Mumbai).

Department of Information Technology
Union Bank Of India,
Technology Centre,
1/1A, Adi Shankaracharya Marg,Powai
Mumbai - 400072

Housing Development Finance Corporation Limited (HDFC)

noreply@blogger.com (foster) — Wed, 20 Aug 2008 14:29:00 +0000

HDFC Bank

In 1994, the Housing Development Finance Corporation Limited (HDFC) received 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI's liberalisation of the Indian Banking Sector. The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995.

The authorised capital of HDFC Bank is Rs.450 crore (Rs.4.5 billion). The paid-up capital is Rs.311.9 crore (Rs.3.1 billion). The HDFC Group holds 22.1% of the bank's equity and about 19.4% of the equity is held by the ADS Depository (in respect of the bank's American Depository Shares (ADS) Issue). Roughly 31.3% of the equity is held by Foreign Institutional Investors (FIIs) and the bank has about 190,000 shareholders. The shares are listed on the The Stock Exchange, Mumbai and the National Stock Exchange. The bank's American Depository Shares are listed on the New York Stock Exchange (NYSE) under the symbol "HDB".

The headquarter of the bank is in Mumbai. The Bank at present has a robust network of over 746 branches spread over 329 cities across India. All branches are linked on an online real-time basis. Customers in over 120 locations are also serviced through Telephone Banking. The Bank's expansion plans take into account the need to have a presence in all major industrial and commercial centers where its corporate customers are located as well as the need to build a strong retail customer base for both deposits and loan products. Being a clearing/settlement bank to various leading stock exchanges, the Bank has branches in the centers where the NSE/BSE has a strong and active member base.

The Bank also has a network of about over 1647 networked ATMs across these cities. Moreover, HDFC Bank's ATM network can be accessed by all domestic and international Visa/MasterCard, Visa Electron/Maestro, Plus/Cirrus and American Express Credit/Charge cardholders.

Product and Services

HDFC Bank India provides the following range of products:

Savings Account
HDFC Bank Preferred
Sweep-In Account
Super Saver Account
HDFC Bank Plus
Demat Account
HDFC Mutual Fund
HDFC Standard Life Insurance

Value Services

HDFC Phone Banking
HDFC ATM
HDFC Inter-city/Inter-branch Banking
HDFC Net Banking
HDFC International Debit Card
HDFC Mobile Banking
HDFC Bill Pay

Personal Loan

HDFC New Car Loan and Used Car Loan
HDFC Loan Against Shares
HDFC Two Wheeler & Consumer Loan
HDFC Home Loan

Property Related Services

Assists individuals and corporates to locate suitable residential accommodation in certain major cities and towns in India. These facilities are also available to Non-Resident Indians.

Official Website : http://www.hdfc.com/

Head Office
Ramon House, 169, Backbay Reclamation

H T Parekh Marg, Churchgate

MUMBAI - 400 020.

Working Days : Monday to Friday

Working Hours : 9:30 am to 5:15 pm

Contact :

For Housing Loans in Mumbai - Tel: +91 (22) 66636000

For Housing Loans in Other Cities - please Click here

For Deposits - Tel: +91 (22) 66316060

For Others - Tel: +91 (22) 66316000Fax: +91 (22) 22048834

Indian Investment Centre

noreply@blogger.com (foster) — Wed, 13 Aug 2008 18:25:00 +0000

Indian Investment Centre

Being a service organization of the Government of India, the Indian Investment Centre was set up to promote foreign private investment in India. It furnishes valuable advises to foreign investors for setting up industrial projects in India by providing information regarding investment opportunities in India, the Government’s industrial policy (including that relating to foreign investment and technology transfer), licensing procedures, taxation laws and facilities and incentives available. Indian investment centers also aids the foreign investors in finding partners in India.

Indian investment center is also the nodal agency for investment in India by NRIs and OCBs in which NRI holding is not less than 60 per cent. It provides NRIs and OCBs hand holding services.

It also assist to establish joint ventures and technical collaborations in India and abroad and third country ventures between Indian and foreign entrepreneurs. It also advices and aids the Indian entrepreneurs for locating suitable foreign firms for collaboration.

The most vital thing that Indian investment center does is to assist both the Indian and the foreign investors to meet the procedural requirements of project approvals and in overcoming bottlenecks, if any, in the process of implementation of the project.

The center has rich library containing books and reference materials coverings a wide range of subjects like industry, management, taxation, etc. For ready reference, a cross-section of journals, periodicals and magazines is also available.

The publications of the center provide authentic and the vital information on various aspects of Government policies, procedures and regulations as also facilities, incentives and opportunities available to entrepreneurs in various industrial fields, both in India and abroad. It also publish magazines, journals and books detailing industrial policy, facilities and incentives for Non Resident Indians and technological development.

The Indian investment center also furnishes information on current economic developments in India through its Monthly News Letter. Through this it provides information on industrial licences and letters of intent issued, and foreign collaborations approved, by the Government of India/Reserve Bank of India.

Investment Opportunity in Steel & Aluminum

noreply@blogger.com (foster) — Wed, 13 Aug 2008 18:10:00 +0000

Current Status and Size of the Market

Globally, India is ranked among the top 10 major suppliers of aluminum and steel
India produces 35 million tonnes of steel annually
India is the No.1 producer of sponge iron in the world
Annual domestic consumption of aluminum and copper are over 0.75 million tonnes and 0.4 million tonnes respectively
Indian metal industry employs about one million people and generates over $13 billion in revenues (2004-05)

Structure of Indian Metal Industry

Large number of integrated players, such as SAIL and Tata Steel in steel and Hindalco and Nalco in aluminum, dominate the industry
This industry has a significant presence of public sectors:
Steel Authority of India Ltd. (SAIL) has 32% of India’s installed capacity of crude steel
Nalco has 38% of India’s installed capacity of aluminum
Among the private players, Tata Steel, Hindalco and Sterlite are the major companies in the industry

GOI Policy

100% FDI is allowed under the automatic route for metallurgy and processing of all metals

Potential & Opportunities

Steel consumption in domestic market is forcast to grow by 8% p.a. To 60 million tonnes by 2010
Indian metal industry has the potential to become one of the world’s top five suppliers and top five markets for aluminum and stee
Demand for Aluminum is expected to grow @ 10% p.a. for the next 10 years
The current low per capita consumption of metals is projected to increase substantially in the recent future
Large global metal manufacturers including POSCO, Mittal Steel and Dubai
Aluminum have announced plans for setting up plants in IndiaInvestments of over $15 billion for integrated steel manufacturing and about $5 billion for aluminum manufacturing are needed by 2010

Investment Opportunity in Oil and Gas Sector

noreply@blogger.com (foster) — Wed, 13 Aug 2008 17:38:00 +0000

Oil and Gas Sector of India
Oil and gas is a lifeline of a nation. For they not only fulfill the day to day domestic requirement but also cater to many industries. India no doubt is a vast nation and that too developing. India is developing very fast and lots of industry needs the constant and uninterrupted supply of gas and oil. Hence Government has chalked out various programmes and policies to open this sector for the private participants. Initially it was the government agencies that were solely responsible for oil and gas exploration and its distribution. But post 1991 period saw many reforms and policies that allowed private sector also to play an important and crucial role.

Facts and Figure

Nearly 35% of India’s energy requirements iss fulfilled by oil and natural gas
Oil and natural gas are critical for industries like petrochemicals, fertilizers and energy
Domestic production of crude oil is 33.4 MMT whereas the demand is about 116 MMT. There is a vast mismatch between demand and production.
During the last three years, Crude oil imports have been increased by 7% p.a.
There is also mismatch between the demand and the production of natural gas. The demand of natural gas is about 150 MMSCMD (2004) while the domestic supply is only 81 MMSCMD
In the last few years, many gas fields have been explored.

Major players and presence in value chain

Industry Structure

Oil exploration and production is carried out by both public sector companies and private sector.
Public sector companies have the major share. Oil and Natural Gas Commission (ONGC) and Oil India Limited (OIL), accounts for 83% of the total domestic oil and gas production
The role of both domestic and foreign players is increasing every year.
Private sector/Joint venture companies have made 32 significant hydrocarbon discoveries in the last four years
Reliance Industries Ltd. has made the world’s largest gas discovery in 2002 (about 5 trillion cubic meters)
Some of the major foreign players present in India are Hardy Oil & Gas, Niko Resources and Cairn Energy

Government Policy

Government has permitted 100% FDI for the exploration of Crude Oil and Natural Gas through the automatic route
To facilitate Private sector participation in Oil and Gas exploration
The New Exploration Licensing Policy (NELP) has been enacted since 1998
Under the NELP programme, more than 108 oil blocks have been awarded since 1999 through global competitive bidding
To explore CBM blocks, new policy, Coal Bed Methane (CBM) Policy has been formulated which provides for attractive fiscal and contract terms
An Independent Regulator for Oil & Gas will be established after the enactment of Petroleum and Natural Gas Regulatory

Investment Opportunity and Business Potential

By 2012, it is expected that the demand for crude oil might increase to about 190 MMT
The global price of crude oil is increasing, therefore government is focusing more on E & P to expand domestic production
The demand for gas is expected to rise to 330 MMSCMD by 2012
The growth in this sector is expected in next seven years is 10% p.a
The demand for gas will increase due to increasing use of its for power generation, petrochemicals, fertilizers and city gas distribution
There is huge gap between the demand and the supply. This gives enough opportunities to the investors for investment
Opportunities also lie in exploration and production of Crude Oil, Gas and CBM
Through the active partnership of the private sector government is actively promoting the creation of Strategic Oil & Gas reserves
There is still huge potential for exploration. According to estimates nearly 32% of the Indian sedimentary area is still unexplored.
Private players such as Cairn Energy, Reliance energy, etc have recently discovered huge area of oil and gas fields which indicates that there is huge potential in this sector
For exploration and production of oil and gas there is still a need of $7-8 billion of investment

Investment Opportunity in IT and IT Enabled Services

noreply@blogger.com (foster) — Wed, 13 Aug 2008 17:22:00 +0000

IT Sector of India
India is the most preferred destination for providing IT and IT Enabled Services (ITeS). In 2004-05 the total revenues generated by this sector was $28.2 billion. Out of the total revenue, IT Services and Software constituted 59%, IT Hardware about 21% and ITeS about 20%. Out of the total world market, India accounts for 33% of the market in 2004.Out of the total revenues,69% of the industry revenues are accounted by the Indian companies whereas, International companies account for the rest. About 45% of Fortune 500 corporations source software from India

Industry Structure
Both the domestic private sector and the international players are operating in India. The IT industry in India can be divided into following groups:

Group 1
Under this lie both large and medium Indian IT and ITeS companies. Some of the big companies in this sector are: Tata Consultancy Services, Infosys, Wipro, and HCL

Group2
Major international MNCs who have set up development centers in India. Some of the
major MNCs are: IBM, Dell, Microsoft, HP, etc.

Group 3
Under this category, large Global corporations like JP Morgan, American Express, GE, Citigroup, HSBC, British Airways, etc. are included which have set up Captive back office operations in India

Government Policy

Government of India in order to promote Investment in IT sector has allowed 100% FDI is permitted in this sector under the automatic route
Government has also established SEZs, EOUs and Software Technology Parks to encourage IT industry. Units setting there operations in these areas are also being provided income tax exemptions
Information Technology (IT) Act, 2000 has legalized the acceptance of electronic records and digital signatures which provided a legal backbone to e-commerce

Major IT and ITES Companies in India

Investment Opportunity and Business Potential

Almost every major IT players are present in India. It is estimated that ITES is set to grow five-fold over the next 5 years.
By 2012, it is expected that the Indian IT and ITeS industry would grow to $148 billion.
IT sector, would grow over 25% p.a. over the next seven years
Government of India has aimed to achieve a 50% share in the global off-shored IT and BPO services by 2008

Key Drivers of IT sector

Presence of talented and low cost workforce and world-class companies
Availability of technically-skilled and English-speaking labor force at lower costs as compared to USA and Europe
Expertise in project and process management
Strength of India has been recognized globally
India is highly capable in higher, value added activities and in the Global Delivery Model
Identification of custom application development and maintenance as priority areas due to high off-shoreable component by the leading international
Several regulatory and technological factors, have led to the growth of domestic IT & ITeS market
Efforts are being taken to stop software piracy
Lots of efforts are being taken to make PCs available to large section of the population

Investment Opportunity in Tourism Sector of India

noreply@blogger.com (foster) — Wed, 13 Aug 2008 17:05:00 +0000

Indian Tourism Industry
India is a huge country with lots of scope in investment in tour and travel sector. The total size of tour and travel industry of India is $32 billion that is 5.3% of GDP. Government has launched various programmes and has taken many initiatives to boost this sector. Incredible India is one of the programme which aims to popularize India as a hot destination for tourism.

Facts and Figure

Total size of the industry- $32 billion
In 2004, total number of tourist arrival in India- 3.3 million an increase of over 20% from the previous year
Total domestic tourist in 2004- 270 million
Domestic market growth in the last 4-5 years- 20% p.a.
Number of hotels across the country- 1,800 Number of hotel rooms- 100,000 (Five star hotel rooms constitute
27%, four-star 7.5% and three-star 22%)
Rooms occupied in 2004-05- 70%

Industry Structure

The hotel industry in India is dominated mainly by large Indian groups like The Taj Group, Oberoi, ITC, Leela and Bharat Hotels.
Apart from Indian ownership, there are lots of international like Sheraton/Starwood, Inter Continental, Hyatt, Marriott, Hilton, Le Meridian, and Carlson. These chains are either represented by management or franchise contracts
Some other international players like Shangri-La, Four Seasons, Ritz Carlton and Mandarin are also in the process to establish their presence in India, primarily through management contracts
30,000 rooms are represented by the branded segment that is 30% of the total hotel stock. In the last five years, there was Compounded growth
Three star hotels grew at about 11% whereas the four star segment grew at about 9%

Government Policy
Government has permitted 100% FDI in Hotels and Tourism, through the automatic route

Investment Opportunity and Potential

There is a huge opportunity in this sector. As per estimates, by 2007, foreign tourist arrival may grow to 5 million by 2007 which could double to 10 million by 2010-12
Over next five years, domestic tourism is also expected to increase by 15% to 20% p.a.
Average room rate is also expected to grow rapidly until sufficient new supply comes on stream
In 2005, the average room rates increased by 21% as compared to 2004. The maximum growth was registered in 4-star and 5-star segments
Rapid growth of population, good demography, and rapid growth of economy ensures uptrend in the domestic demand for hotels – for business and leisure
Trade activity and investment is increasing in India that would increase International inbound traffic
India is a home of cultural diversity and natural beauty that will attract the foreign tourists
Travel will bee further boosted due to the coming of more budget airlines/lower air-fares, open sky policies and expected improvements in travel infrastructure such as roads, airports and railways
Over 100,000 hotel rooms need to be added over the next five years which presents opportunities in all price and value chain segments
There is also an opportunity in hotel-asset construction and ownership
Since the there is low penetration of brands in this sector. Hence there is an opportunities for management contracts and franchising with local hotel owners/ developers
The sector offers investment opportunity of about $8-10 billion in the next 5 years

Investment Opportunities in Electronics Hardware

noreply@blogger.com (foster) — Wed, 13 Aug 2008 16:17:00 +0000

Current Status and Size of the Market

By revenue, Electronics Hardware in India is a $11 billion industry .India's share of the global market is just 0.6%
Fast becoming a manufacturing base for consumer electronics and telecom equipment; the sector includes design, manufacture and assembly of products related to:

1. Consumer Electronics (TV, DVD, Audio systems): about $3.9 billion (FY 05)

2. Industrial Electronics: about $2.1 billion (FY 05)

3. Computers (PC, Servers, Laptops): about $1.4 billion (FY 05)

4. Telecom Equipment (Phones and Network Equipment): about $1.6 billion (FY 05)

5. Electronic Components: about $1.6 billion (FY 05)

Structure of Indian Electronics Hardware Industry

Indian Electronics Hardware industry supplies primarily to the domestic market. Exports are limited to passive components like capacitors, resistors, wound components, CD-ROMs, colour picture tubes, etc.
In the areas of consumer electronics and telecom equipment, India is fast becoming a manufacturing base
Almost all major global players, such as Siemens, Texas Instruments, Matsushita, Alcatel, LG, Samsung, Sharp and Lenovo have already set up manufacturing operations in India. Many more have R&D centres
Flextronics, Solectron, Jabil Circuit and other international contract manufacturers have already set up base in India

GOI Policy

100% FDI is allowed under the automatic route with a few exceptions:

An Industrial license is required in case of aerospace and defense equipment manufacturers

The National Electronics Hardware Manufacturing Policy is proposed to resolve tariff and duty related issues and set up hardware manufacturing clusters/ parks

Electronic Hardware Technology Parks set up to encourage investment in the sector in several cities e.g. Bangalore and Cuttack

Potential & Opportunities

Indian Electronics Hardware industry is forecast to grow very fast in the coming years

Will reach $62 billion by 2010 from about $11 billion in 2005

Domestic consumption will see 33% CAGR

Exports will grow faster

Four countries – China, South Korea, Taiwan and Malaysia – account for over one-third of world production
India’s inherent advantages of availability of adequate engineering talent and low cost structure can be leveraged to advance its position in the global market

Growing domestic market fueled by increase in penetration

Domestic market provides opportunities in manufacture of consumer electronic goods and mobile handsets

New SEZ Act with duty-free imports and income-tax concessions will facilitate creation of large-scale manufacturing units for the world market

Global market opportunities in Electronics Manufacturing Services include:

Contract Manufacturing: $500 billion outsourcing opportunity by 2010 of which India can tap $11 billion

Design Services: $7 billion projected by 2010

Component Exports: $5 billion projected by 2010

The sector requires large investment of about $17 billion over the next 5 years – Some mega projects have already been announced and there is visibility for about one third of the investment required

Gmail Users can't Access Their Accounts

noreply@blogger.com (foster) — Tue, 12 Aug 2008 07:07:00 +0000

Problem of Account Access by Gmail Users

SEATTLE: "Many users of GMail are having problems in accessing their online e-mail accounts due to a temporary outage in a contacts systems used by Google" said the official. The problem started at about 2100 GMT and a company spokesman said Google is starting to implement a fix for the problem right now.

"We are starting to roll out a fix now and hope to have the problem resolved as quickly as possible," said a Google spokesman. Google said an outage in the contacts system used by Gmail is preventing the e-mail system from loading properly.

The company also said that the new incoming messages are safe even if a user can not access their account. Users across the United States, Canada and India reported problems with Gmail and a Google employee also reported that the company's own corporate e-mail account was down.

Good Signs for Indian Infrastruture

noreply@blogger.com (foster) — Tue, 12 Aug 2008 06:58:00 +0000

Good Signs for Indian Infrastruture

NEW DELHI: According to government sources, Infrastructure sector output grew 3.4 per cent in June 3.5 per cent. Output rose an annual 5.2 per cent in June 2007, and in the 2007/08 fiscal year it rose 5.6 per cent from a year earlier. The infrastructure sector accounts for 26.68 per cent of India's industrial output.

I Phone To Hit Indian Market on August 21

noreply@blogger.com (foster) — Thu, 07 Aug 2008 09:22:00 +0000

I Phone To Hit Indian Market on August 21

Most awiated electronics Gazette, Apple's iPhone, the touch screen handset will be available to Indian mobile users through Bharti Airtel at the stroke of midnight on August 21, giving competitors like Nokia, Samsung and others a run for their money.

According to statement released by Airtel, Millions of Airtel subscribers will be able to purchase the iPhone at Airtel's Relationship Centres from August 22.

Sanjay Kapoor, President, Bharti Airtel mobile services, said"iPhone has been an iconic technological revelation of this year and Airtel has been at the forefront of innovation and customer delight in the Indian telecom sector,"

iPhone is endowed with all 3G features and is twice as fast as the existing mobile phones. The phone also has in-built GPS system, that facilitates as a navigation and positioning tool.

US-based Apple has tied up with Airtel and Vodafone to bring iPhone in the country.

Asked at what price it will be available, Bharti Airtel officials declined to give details.

"Introducing iPhone in India further underscores Bharti's commitment to enrich the communication experience of Airtel users," Kapoor said.

Leading cell phone makers like Nokia, Motorola and Samsung have stepped up their R&D efforts to bring feature rich phones in India to compete iPhones.

Vodafone is also slated to bring Apples's iPhone this year.
10 comments on this story. Read them and post your own.

Punjab National Bank (PNB)

noreply@blogger.com (foster) — Mon, 04 Aug 2008 16:38:00 +0000

Punjab National Bank
Punjab National Bank (PNB) was established by Lala Lajpat Rai in 1895 in Lahore. It is the second largest public sector commercial bank in India with about 4500 branches and offices throughout the country. It serves nearly 3.5 crore customers woth wide array of services .

Services

Some of the services offered by PNB are:

Corporate banking
Personal banking
Industrial finance
Agricultural finance
Financing of trade
International banking

Punjab National Bank has been ranked 38th amongst top 500 companies by The Economic Times. PNB has earned 9th position among top 50 trusted brands in India.Punjab National Bank India maintains relationship with more than 200 leading international banks world wide. PNB India has Rupee Drawing Arrangements with 15 exchange companies in UAE and 1 in Singapore.PNB OnlinePunjab National Bank of India is also a member of SWIFT and more than 150 PNB Branches are connected with terminals in Mumbai. It promotes "Any Time, Any Where Banking".

Internet Banking

The internet banking of Punjab National Bank is very comprehensive. The benefits of Internet basnking is available both for the Corporates and Individuals. It provides 24 hours, 365 days banking from the PC of the user. Online services available are:

Account Access
Furnishing all details of transactions and statement of account
Online information of deposits, loans overdraft account etc.
Online Payment
Facility for railway reservation through IRCTC Payment Gateway Project
Online Utility Bill Payment Services using which the users can pay their telephone, mobile, electricity, insurance and other bills anytime from anywhere from their desktop.

ATMs and Branches

Punjab National Bank Card user can buy goods and enable services from 45,000 merchant outlet in India and can withdraw cash from over 4500 ATMs with its own 450 ATMs.

The braanches of PNB has wide geogrophical reaach. It has branched virtually in whole part of India. Punjab National Bank has its Branches in all the 7 metropolitan and cosmopolitan cities in Inadi namely New Delhi, Mumbai, Calcutta, Chennai, Bangalore, Hyderabad and Ahmedabad. It even has its branches in small town in both urban as well as rural areas.

International Branches

The international branches of the bank include:

Almaty
Kazakhktan
Shanghai
China
London
Kabul

Punjab National Housing Loan

Any individual can avail Punjab National Bank Housing Loan for any of the following purpose:

For House construction
For purchasing house/ flat.
For purchasing house/ flat from the original allottee, i.e. on first Power of Attorney basis.
For carrying out repairs/ renovation/ additions/ alterations in the existing house.

Approximately 80% of the cost of project is sanctioned by PNB Housing Finance, subject to a maximum of Rs. 50 lac. In case of carrying out repairs/ renovation/ additions/ alterations in the existing house, the ceiling is Rs. 5 lac. The loan is available for a period of 5 years to 20 years or before the borrowers attain the age of 65.

Interest of Punjab National Bank Home Loan is charged on reducing balance and the amount to be sanctioned depends upon the repaying capability of the borrower.The following securities are required by the cell of PNB Housing Loan:

Mortgage of property for which finance is being given.
In case of purchase of house flat from housing board/ society where mortgage cannot be created immediately, a tripartite agreement shall be executed amongst the housing board/society, borrower and the Bank.
In case of purchase of house/ flat on first power of attorney, additional security by way of mortgage of some other property or pledge of Bank's Fixed Deposit Receipt/ LIC policy/ Govt. securities has to be provided.
Suitable third party guarantee acceptable to the Bank which may include guarantee from family members/ other relatives. PNB Mutual FundPNB Mutual Fund services are distributed under the scheme of Principal PNB Asset Management Company from its assigned branches.

Mutual Funds

The varieties of Punjab National Bank Mutual Fund are as under:

Principal Growth Scheme
Principal balanced Fund
Principal Income Fund
Principal Income Fund - Short Term Debt
Principal Cash management Fund
Principal Index Fund
Principal government Securities Fund PNB

Office Addresses

Head Office

Punjab National BankStreet 7, Bhikaji Cama Place New Delhi 110066

India

Tel : 91-11-26102303

For ATM related queries

Punjab National Bank

ATM Card Centre, 5, Sansad Marg New Delhi - 110001

Tel : 91-11 - 23352019

24 hours toll free PNB Call Centre number1600 12 2222

Website : http://www.pnbindia.com/

Oriental Bank of Commerce

noreply@blogger.com (foster) — Mon, 04 Aug 2008 14:34:00 +0000

Oriental Bank of Commerce
Oriental Bank of commerce was established in Lahore on 19th February 1943 by late Rai Bahadur Lala Sohan Lal, the first Chairman of the Bank.

After four four years of its establishment, the Bank had to face the holocaust of partition. Branches in the newly formed Pakistan had to be closed down and the Registered Office had to be shifted from Lahore to Amritsar. Late lala Karam Chand Thapar, the then Chairman of the Bank, in a unique gesture honoured the commitments made to the depositors from Pakistan and paid every rupee to its departing customers. The foundation of customer service thus laid has ever since remained Oriental Bank's prime philosophy and has been nurtured well as a legacy by all its successors, year after year.

Successful Projects
The Bank has launched yet another people's participation in the planning process at grass root level essentially to tackle the maladies of poverty. The Grameen Projects venture aims to alleviate poverty plus identify the reasons responsible for the failure or success.

OBC is already implementing a GRAMEEN PROJECT in Dehradun District (UP) and Hanumangarh District (Raiasthan). Formulated on the pattern of the Bangladesh Grameen Bank, the Scheme has a unique feature of disbursing small loans ranging from Rs. 75 (US $2) onwards. The beneficiaries of the Grameen Project are mostly women.The Bank is engaged in providing training to rural folk in using locally available raw material to produce pickles, jams etc. This has provided self-employment and augmented income levels thus reforming lives of rural folk and encouraging cottage industries in rural areas.

Services
Deposit
Saving Accounts, Current Accounts,Term Deposit,Tax Saving Term Deposit,Flexi Fixed Deposit, Variable Progressive Deposit

Loans
Housing Loan, Car/ Vehicle Loan, Personal Loan, Education Loan, Advances to Minority Communities

NRI Services

Premium Services

Internet Banking
Real Time Gross Settlement System (RTGS
NATIONAL ELECTRONIC FUNDS TRANSFER(NEFT)
Online Tax Accounting System(OLTAS)
BANCASSURANCE

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Web Address: www.obcindia.co.in

Head Office
HarshaBhawan,E-Block,ConnaughtPlace,NewDelhi-110001

Telephone Nos.: 91-11-23417121, 23416691, 23415508

C.M.D. Sectt.. : 91-11-23413444, 23416841

E.D.Sectt.91-11-2341870791-11-23318423(DepartmentofIT)

91-11-23415567(GMsSectt.)

91-11-23546155(Inspection&ControlDeptt.)

91-11-23415591 (Planning & Development Deptt.)