TO DECONGEST DELHI, HARYANA UNVEILS AN ALL-NEW 156-KM HIGHWAY PROJECT
Corridor expected to reduce the travel distance by 65-70 km, besides saving time and money
The Haryana government plans to construct a 156-km ‘North-South Highway Corridor’ to connect states in its south, such as Rajasthan, Gujarat and Maharashtra, with those in its north, such as Punjab, Himachal Pradesh and Jammu and Kashmir, besides decongesting the routes passing through Delhi.
The project envisages the acquisition of 665 acres of land at an estimated cost of Rs 140 crore.
Picture taken from here
UP PLANS MEGAPOLIS ALONG YAMUNA EXPRESSWAY
Deepa Jainani, Lucknow
The Financial Express
In an out of-the-box way of policy-making which creates an urban zone 10 times the size of Noida, the Uttar Pradesh government has decided to convert the entire rural belt along the Greater Noida-Agra expressway into an urban zone, making it the biggest such plan attempted in India. The Mayawati government issued a notification on Monday bringing 1,187 villages spanning six districts along the Yamuna Expressway under the Yamuna Expressway Industrial Development Authority, cutting short a process that would otherwise have taken years.
In terms of size, this will be bigger than Greater Noida or Delhi, its nearest competitors. The decision is expected to prevent the haphazard growth of urban sprawls on the flanks of new highways. The state government has decided to notify an area of 10-15 km on the left of the almost-finished Yamuna Expressway and up to the river Yamuna on the right side, for “organised and well planned development”.
Uttar Pradesh principal secretary (industrial development) VN Garg said that this is one of the most ambitious efforts of the state government in transforming a rural area into an urban one, which will also serve as a corridor for industrial and infrastructural development.
WALMART RAISES IT SOURCING FROM INDIA
Selects Wipro, Collabera as vendors; total IT sourcing from India about $1 billion.
US-based retailer Walmart, also the largest company in the world, has increased its information technology (IT) sourcing strategy from India by setting up a dedicated group here (in Gurgaon). Called Remote Services Management, the group is headed by Micky Singh who was earlier the CIO of Walmart India and responsible for setting up complete IT solution to Bharti-Walmart, covering all facets of the retail joint venture.
With this, the company wants to identify a number of Indian IT partners based on their areas of strength, rather than giving a huge IT contract to any single company. As part of the strategy, Walmart has also awarded contracts to two more Indian IT services firms, Wipro and Collabera (a privately-held IT services company) to develop specific tools and application, and provide services around that. The contracts are estimated to be over $200 million for multi-year periods. Walmart has already awarded IT contracts to Infosys, Cognizant and UST Global for sourcing specific services and applications for Walmart globally.
ZYLOG SCOUTS FOR ACQUISITIONS IN US
Zylog Systems Ltd, a Chennai-based IT solutions company, is scouting for acquisitions in the United States of around $100 million (around Rs 450 crore) to strengthen its presence in the region.
S P Srihari, chief financial officer, Zylog Systems Ltd, said that around eight companies were on the company’s radar. These companies are operating in the high-margin segments like Banking, Financial Services and Insurance (BFSI), pharma and healthcare and SAP services. The company would finalise the blueprint by third quarter of the current fiscal, he said.
“At present, 42 per cent of our revenue is from the US, but we want to strengthen our operations in certain practices where we still need to fill need gaps,” he said. The company is planning to appoint an auditing firm with which it has carried out many of its acquisition processes, for validation and due diligence.
GOVERNMENT TO BACK SETTING UP A MICROCHIP FACILITY IN INDIA
India is ready to enter the small and elite group of world chipmakers, with the first such facility in the country receiving strong support from the government of India.
The state-of-the-art facility, which sources believe would cost around $3 billion to set up, could reduce India’s 100 per cent reliance on imported chips from a select group of foundries in countries like Taiwan, China and Israel.
Sources in London and within the semiconductor sector in India said this feat has been achieved after more than five years of intense lobbying by the domestic industry. With nearly 130,000 embedded-software, chip-design and board-design professionals in India as well as a large captive market, India is ready to climb straight to the top of this group of chipmakers.
HP WINS $1.4 BILLION OUTSOURCING CONTRACT FROM E.ON
As per the agreement, HP will directly manage the data center and workplace services for more than 80,000 E.ON. employees.
HP said it would also closely collaborate with E.ON’s other key IT suppliers, helping to reduce E.ON’s management complexity.
As a result, more than 1,100 E.ON employees will be transferred to HP in April 2011, the company said.
US EYES HUGE TRADE IN INDIA’S TIER II, III CITIES
The Economic Times
MADURAI: The United States would focus on tier II and III cities in India for increasing trade as they offer huge business potential, US Commercial Consul for South India Aileen Nandi has said.
“There is huge potential for trade in India in Tier II and Tier III cities and the US Commercial Services (USCS) in India will focus on them,” she said at an interaction with members of Madurai District Tiny and Small Scale Industries Association here last evening.
India’s exports to the US stand at USD 21 billion per annum while it imports USD 16 billion worth goods from the country, Nandi said, adding that the Indian market was growing at a faster pace.