Education Sector

Tamil Nadu chief minister creates $77 million opportunity for laptop makers
The Economic Times

CHENNAI: The cadre and supporters of AIADMK were not the only ones cheering when J Jayalalithaa took her oath as chief minister of Tamil Nadu on Monday. Ripples of her victory over rival DMK were also felt in the corporate world where laptop manufacturers, sensing an opportunity in her triumph, were proposing a toast to the mercurial actor-turned-politician.

The reason for their broad grins was Jayalalithaa’s campaign pledge to dole out free laptops to students of class XI and XII.

Liberalization hasn’t led to education for deprived sections – Apex court
India Edu News

New Delhi: The Supreme Court has said the notion that liberalization and free-market economy in India would generate wealth which the government would use for providing higher education to deprived sections of the society has turned out to be “false and a mirage”.

Bosch to invest $33 mn in India’s edu sector
The Indian Express

German auto component maker Bosch today said it will invest 22.8 million Euro (about Rs 150 crore) over the next 10 years to set up a research centre at Bangalore in association with the Indian Institute of Science.

The amount is under a programme to celebrate the firm’s 125th anniversary and is a part of a total global investment of 50 million euro in the field of higher education in Germany, China, India and the US over the next 10 years.

Infrastructure

Delhi Metro to Vaishali in Gaziabad by July: Delhi Metro Rail Corporation (DMRC)
The Economic Times

NEW DELHI: This summer, the Delhi Metro will cross another border. With trial runs starting in June, the extension of the Yamuna Bank- Anand Vihar line to Vaishali in Ghaziabad is expected to be up and running from July, Delhi Metro Rail Corporation sources said.

For residents of Vaishali, Vasundhara, Indirapuram and Kaushambi – all across the UP border – the opening of the extension line is a much-awaited event. The 2.57km stretch, which will have only two extra stations at Kaushambi and Vaishali, will cater to a large catchment area, say officials. The daily ridership on the Yamuna Bank-Anand Vihar line is expected to jump by 40,000, easily crossing the one lakh figure from the current 90,000.

Related Articles: Metro to Vaishali by July: DMRC

Metro kicks off land acquisition, first TDR issued
The Times of India

CHENNAI: Metro rail has kicked off acquisition of private land as work on building the elevated corridor and stations has begun. A private property owner was given a compensation package for 264 square metres of land that will be acquired for the project at Little Mount on Tuesday.

Chennai Metropolitan Development Agency (CMDA) issued a certificate for transferable development rights (TDR) to Aruna Timbers, one among the four private property owners who applied for this type of compensation soon after their properties were notified for acquisition.

Link DND flyway to Barapullah road, operator tells Delhi govt
Indian Express

Operators of the Delhi-Noida-Direct (DND) flyway have proposed to the Delhi government to connect the Barapullah elevated road to the flyway for better linkage between South and East Delhi.

The offer comes just weeks after Chief Minister Sheila Dikshit asked the Public Works Department (PWD), which manages the Barapullah road, to begin work on extending the flyover over the Yamuna till Mayur Vihar.

Soon, major treatment plant on Gurgaon canal
The Times of India

GURGAON: The Haryana government on Tuesday announced it would set up a major treatment plant on Gurgaon Canal, which supplies water to four districts in the region — Gurgaon, Faridabad, Mewat and Palwal. The water treatment plant will use Israeli technique to ensure optimum use of available water.

This was announced by chief parliamentary secretary (CPS) Dharambir at Nunhera village in Sohna after he laid a foundation stone of the boundary wall of a graveyard.

Real Estate Sector


Builder upbeat about investor confidence in India
Gulf News

Muscat: Investor confidence in India is very high at the moment, according to Niranjan Hiranandani, Founder of Hiranandani Constructions.

Addressing the Indian diaspora here last night at the Crowne Plaza Hotel, the managing director of the Mumbai-based real estate giant painted a rosy picture for those looking for long-time investment in real estate in India.

In reply to a question, the soft-spoken businessman said that opportunities, especially in the West, were disappearing and the trend was definitely towards looking at avenues in India.

Fire cap to mop up $100 million for housing projects
Paramita Chatterjee, New Delhi
 The Economic Times  

Fire Capital, the first private equity fund focused on the Indian real estate sector, plans to raise $100 million to invest in housing projects, as banks turn away from the debt-ridden sector leaving builders to fall back on PEs. The firm will raise the capital primarily from its existing investors in the US to invest in tier-II and -III cities in states like Haryana, Punjab, Rajasthan, it’s chief executive officer Om Chaudhry said.

Fire Capital, established in 2004, raised its first fund worth $121 million in 2006, with an ability to invest around $250 million through the co-investment commitments of its investor base. The fund is almost exhausted. It is raising the additional amount to built 25-50 acres with each builder in small towns this fiscal year. The PE fund typically works with local developers rather than large realty firms in tier-II and -III cities and takes majority equity holdings in residential projects. It selects builders to primarily get the land and then forms joint ventures where it acquires majority stake. The fund receives its return on investment once the project is sold. So far, it has invested in cities like Indore, Nagpur and Jaipur, besides outskirts of Bangalore.

Property developers are increasingly approaching private equity firms to complete both existing and new projects besides repaying a part of their debt.

Economy

Wipro leader among global R&D service providers
The Economic Times

BANGALORE: Wipro has emerged as the leader followed by HCL , Patni, Infosys , Mahindra Satyam and  MindTree in the rating of global R&D service providers across various countries like India, China, Russia and Eastern Europe, according to a study.

The top six players, of the 44 companies that were assessed constitute 58 per cent of the total R&D service provider market, a study conducted by Zinnov Management Consulting , a global advisory firm said.

Indian immigrants in Canada turning into millionaires
The Economic Times

TORONTO: The Indus Entrepreneurs (TiE) in Canada is making its mark by turning struggling Indian immigrants into successful entrepreneurs.

Under its mentorship programme, TiE Toronto has turned million-dollar dreams of many budding entrepreneurs into reality. “Many of the entrepreneurs we have mentored for the past 10 have created multi-million-dollar companies in a matter of years,” TiE Toronto president Suresh Madan told media .

IT majors expand operations in Bengal SEZs as STPI sops go
The Hindu Business Line

Taking a cue from the withdrawal of tax benefits under the STPI (Software Technology Parks of India) scheme, large IT companies having STPI notified units in West Bengal have started expanding operations into special economic zones (SEZs). The trend, however, is not so apparent among the IT SMEs (small and medium enterprises).

Information available with the STPI, Kolkata, shows that IT majors such as Genpact, Tata Consultancy Services (TCS), HCL Technologies and Cognizant have set up facilities in SEZs during the last one year parallel to their STPI operations.

Foreign Direct Investment

FIIs raise their India Inc stake to 20% in FY11
Business Standard

Foreign institutional investors (FIIs) increased ownership in India Inc by 170 basis points to 20.4 per cent in 2010-11, purchasing depository receipts and through market operations.

Indian promoters issued shares worth Rs 61,300 crore, offering shares to overseas investors’ via depository receipts (ADR/GDR), placement to qualified institutional bidders (QIB), preferential allotments, public offerings and conversion of foreign currency convertible bonds (FCCBs).

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