Gujarat Chamber of Commerce & Industry

1/2014-2015

Thu, 03 July 2014

Trade & Industry

GoI approves Rs. 12,500 crore transmission projects

In a bid to fast track building of high capacity inter-state transmission lines, the Ministry of Power has approved 9 new projects with an aggregate cost of over Rs.12,500 crore. These transmission projects will benefit several states such as Haryana, Chhattisgarh, UP, MP, Maharashtra etc, by enabling high capacity 765kv lines carrying up to 2100MW each apart from construction of new 765/400kv substations.

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Nivea to set up first plant, R&D facility in India at Sanand, Gujarat

Global skin care giant Nivea would set up its first manufacturing plant in India at Sanand, near Ahmedabad. Apart from the manufacturing facility, Nivea India, an affiliate of Germany-based Beiersdorf AG, will also set up a research and development (R&D) centre at the Sanand-based factory, which will focus on innovations for Indian consumers as well as other markets.

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Ranbaxy gets FDA approval for Novartis Diovan generic

Ranbaxy Laboratories has received approval from the U.S. Food and Drug Administration (FDA) to launch a cheaper copy of Novartis AGs (NOVN.VX) blood pressure pill Diovan, bolstering its outlook after a raft of regulatory bans for poor production quality at its India facilities dented investor sentiment.

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PSLV C23 launched successfully from Sriharikota

It was a grand exclusive commercial success for the Indian Space Research Organisation (ISRO), which successfully launched Polar Satellite Launch Vehicle PSLV-C23 with five foreign satellites into the space on June 30, 2014. This has strengthened Indias space mission capability to launch foreign satellites on a commercial basis.

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Economic & Finance

India to present budget on July 10

The Budget session of Parliament will be held from July 7 to August 14 and the first General Budget of the Narendra Modi government will be presented on July 10.

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Corporate Affairs Ministry to finalise draft circulation on exemptions granted to Private Companies in new Companies Act in 1st of July

The Ministry of Corporate Affairs is expected to finalise its draft circulation on exemptions which can be granted to private companies in the new Companies Act by early next month and has thus sought feedback from all concerned stakeholders in this behalf.

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International Affairs

India, China sign three key MoUs

India and China on June 30, 2014 signed three key MoUs during the recent visit of Vice President Hamid Ansari. The MoU on industrial parks is aimed at attracting Chinese investments in India and provides an enabling framework for Chinese companies to invest in industrial parks and zones. Second MoU on flood data sharing, which will provide India with 15 days more of hydrological data of river Brahmaputra. The data helps India in flood forecasting. The third MoU will help the two countries establish a framework for regular interactions between administrative officials to share experiences and learn from each others best practices.

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Important Notifications / Circulars

CCI to put competition compliance norms in public domain

The Competition Commission of India is to come up with well-defined guidelines for competition compliance and is to put them in the public domain for better awareness amongst corporates and various levels of management within companies. With the objective to provide a platform to educate India Inc on the issues, CII has signed a memorandum of understanding with the Indian Institute of Corporate Affairs.

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Future Projects

Honda plans Rs 4,000 crore new factory in Gujarat

Japan’s Honda Motor Co. is planning to invest Rs.4,000 crore to build 100,000-125,000 cars a year capacity automobile manufacturing plant over 150 hectares of private land at Vithalapur in Gujarat. This will be Honda’s third manufacturing plant in India.

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Chinese firms plan industrial parks in Gujarat

A group of Chinese companies has shortlisted three locations near Sanand in Ahmedabad district for setting up industrial parks. These locations are Sachana, Jakhwada and Jalsana. The consortium of Chinese companies is expected to initially invest nearly USD 200 million (INR 120 crore). In all, the Chinese companies have a target to invest USD 1 billion in Gujarat this year.

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Vadodara, Ahmedabad, Gandhinagar among 7 cities GoI identifies for electronic manufacturing

The government will promote chip-making facilities in the country and set up seven greenfield electronic manufacturing clusters. The selected places include Ghaziabad, Vadodara, Ahmedabad, Gandhinagar, Nagpur, Nasik, Aurangabad and Thane. Under the Modified Special Incentive Package Scheme (M-SIPS) notified in July 2012, refunds will be provided on capital expenditure for new units or for expansion of more than 25 per cent of existing capacity in certain greenfield or brownfield electronics manufacturing clusters.

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