The Times of India
You have heard it right. The India International Trade Fair could move to Gurgaon if the commerce ministry and the Haryana government are to be believed. The Exhibition-cum Convention Center(ECC) at Panchgaon Chowk, NH-8, could be the venue for the biggest trade show of Asia in 2014.
To come up at the cost of Rs 2,500 crore, the consortium of Jurong-KPMG- DTZ – ESRI, the consultants hired for a pre-feasibility study, in their report submitted two weeks ago, asserted that shifting of the entire business of Pragati Maidan to this new facility will contribute a lot to its success.
The plan will be implemented in two phases Phase-I, over 150 acres, and Phase-II, over the remaining 100 acres. The facilities to be created at the Exhibition-cum-Convention Centre include an exhibition space, convention centre for 6,000 people, retail arcade and hotels.
Real Estate Sector
TATA HOUSING TARGETS TO SELL 13,000 HOMES THIS FISCAL
The Economic Times
Tata Housing Development Company Ltd today said it plans to sell about 13,000 housing units, mostly in the affordable segment, this fiscal for an estimated realisation value of over Rs 2,000 crore.
“We are currently developing about 20 projects across the country. In this fiscal, we are targeting to sell 12,000 units in the affordable segment and about 1,000 flats in the premium segment,” company’s Managing Director and CEO Brotin Banerjee said on the sidelines of a realty conference organised by Royal Institution of Chartered Surveyors (RICS).
Banerjee said affordable housing is being developed by its subsidiary Smart Value Homes under two brands — Subha Griha (sub Rs 10 lakh) and New Heaven (Rs 12-30 lakh) — in cities like Bangalore, Pune, Chennai and Mumbai. The company would invest about Rs 1,000 crore this fiscal on development of these projects, he added.
INDIA, CHINA MARCHING AHEAD IN HI-TECH MANUFACTURING: US
The Economic Times
WASHINGTON: The US is gradually losing ground to India and China in research and high-tech manufacturing, a top Obama Administration official has said, while highlighting the need to collaborate with the two countries in various fields.
“Will we maintain America’s innovation leadership, or are we going to fall behind? And I would say, let’s seize this opportunity and we really can’t afford not to,” US Energy Secretary Steven Chu said at the National Press Club here yesterday.
“Eight of the 10 global companies with the largest R and D budgets in the world are establishing R and D facilities in China or India or both. And 77 per cent they will build in China and India,” Chu said referring to the facts taken from ‘Rising Above the Gathering Storm, Revisited’. 2010.
GENERAL MOTORS (GM) INDIA NOVEMBER SALES JUMP 17.6% AT 8,736 UNITS
Car maker General Motors (GM) India today said its sales climbed 17.67 per cent to 8,376 units in November this year compared to 7,118 units in the same month last year.
“Introduction of best-in-segment cars from the 300 series, increase in customer outreach through distribution network and our unique value proposition like Chevrolet Cashless Ownership offer are the factors that have led to impressive sales,” GM India Vice President P Balendran said in a statement.
For the 11-month period ended November this year, the company has crossed one lakh units mark registering an increase of over 63 per cent, as against the same period last year.
Infrastructure: Highway Project
Picture taken from here
WORLD BANK APPROVES $45 MILLION LOAN TO NATIONAL HIGHWAYS AUTHROITY OF INDIA (NHAI)
The Economic Times
BANGALORE: The World Bank has approved a $45 million technical assistance loan for the National Highways Authority of India (NHAI) to help improve its operational efficiency.
The assistance will finance actions to strengthen the institutional capacity of NHAI to efficiently manage and operate its growing program, a bank statement said.
The loan from the International Bank for Reconstruction and Development (IBRD), approved yesterday, has a five-year grace period.
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