Gujarat Chamber of Commerce & Industry

24/2015-16

Thu, 10 December 2015

Trade & Industry

Cabinet nod for real estate Bill

The Union Cabinet Wednesday approved the Real Estate (Regulation and Development) Bill, 2015, paving the path for a regulator for the real estate sector along the lines of those for telecom, electricity, securities, banking and insurance sectors. The legislation now covers under its ambit all residential and commercial projects over 500 sq m area or with a minimum of eight apartments as against the earlier project size of 1,000 sq m land area or 12 apartments or more.

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Consortium led by Hitachi bag Rs 2390 crore Dedicated Freight Corridor Corporation contract

A consortium led by Japanese firm Hitachi has bagged two contracts worth an aggregate value of Rs 2,410 crore from the Dedicated Freight Corridor Corp (DFCCIL). The scope of the two contracts includes supply and installation of signalling and telecommunications systems along the part of a dedicated freight corridor traversing the biggest industrial cluster between Delhi and Mumbai.

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Micro, small enterprises starved for capital says Crisil

Micro and small enterprises (MSEs) depend heavily on funding from promoters and suppliers credit to stay afloat as access to institutional finance still remains elusive, research and ratings agency Crisil said in a note on Thursday.

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Gujarat looks to make a mark in defence manufacturing

Gujarat which is looking to make a mark in indigenous production of defence equipment is in the process of preparing a policy on defence manufacturing.

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Gujarat HC orders status-quo at Dholera SIR

In a big blow to Gujarat governments ambitious smart city project at Dholera Special Investment Region (SIR) in Ahmedabad district, the Gujarat High Court on Thursday ordered maintenance of status quo till the disposal of the petition.

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Economic & Finance

At 7.3%, India to remain fastest growing economy in 2016: United Nations

Indias economy is projected to grow by 7.3 per cent next year and will continue to be the fastest growing economy in the world in 2016 and 2017 amid volatile global financial conditions that will see diminished trade flows and stagnant investment, according to a UN report released today.

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RBI allows banks to bring down SLR to 20.50 pc by March 2017

The Reserve Bank has permitted banks to bring down the statutory liquidity ratio (SLR) securities under held-to-maturity (HTM) category by 1.25 per cent to 20.50 per cent by January 2017. The move is expected to unlock funds for lending.

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New Projects

Skechers wants to make in India; double biz in two years

American footwear and athletic accessories brand Skechers, which aims to double its India business in the next two years, plans to start manufacturing in the country.

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Barters and exchanges to carry GST; move may impact automobile, consumer durables sectors

Looking to buy a new iPhone or even a car by trading in your old handset or 10-year-old hatchback? This kind of exchange could cost a bit more than just depreciation when the proposed goods and services tax (GST) is rolled out. The draft GST law proposes to bring barters, exchanges and licences under its purview.

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Science & Technology

PayU Biz introduces ‘One tap’ technology reducing the payment time to just 18 seconds

Payment processor PayU biz on Wednesday unveiled a cutting-edge technology called one tap, which allows mobile payment using debit or credit card to go through with just a tap on the device screen. It is touted to reduce payment process time to about a fifth without having to enter the CVV or OTP numbers each time.

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DHL to invest $16.3 million and introduce drones in India

Global logistics provider DHL is planning to invest about $16.3 million in all its business segments in India and introduce new technologies, including drones, for deliveries and managing logistics, a senior company executive said today.

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Facebook service aimed at professionals to launch in coming months

Facebook at Work, Facebook Incs (FB.O) professional version of its social network, is expected to launch in the coming months, after spending a year in tests. The new service, geared towards workplace collaboration, is nearly identical to its ubiquitous social network, with a scrolling news "feed", "likes" and a chat service.

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Environment

Gujarat to introduce electric buses to reduce pollution

Gujarat Transport Minister Vijay Rupani said that the state government will introduce a pilot project to run six electric buses between Gandhinagar and Ahmedabad to reduce pollution.

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