An international convention centre in Mohali on govt’s agenda

If everything goes well as per the plan conceptualised by the Punjab government, Mohali might turn into a trade expo hub in the near future. The state government is mulling the idea of setting up a state-of-the-art international convention centre spread over 60 acres of land, near the Mohali International Airport, on the lines of Greater Noida.

There is no international convention centre to the north of Delhi and the Mohali project is considered to be one of the most ambitious projects of the Punjab government, especially in view of the upcoming international Airport in Mohali.

A first of its kind in North India, the convention centre will have a capacity of over 5,000 seats and the hotel is expected to have an accommodation of at least 300 rooms. The proposed project will have International convention and exhibition centre with a seating capacity of 4,000 along with commercial area, service apartments. Besides that, covered and uncovered spaces for exposition, conference hall, hotel, resorts, exporter offices, parking spaces.

Read more: Business Standard

Ireo Uptown

Infrastructure

India invites Hong Kong to invest in booming infrastructure space

Hong Kong: Inviting investments from Hong Kong in its growing infrastructure space, including coal mining and energy, India today said the sector held great potential in areas such as safe environment.

“India is making all efforts to boost up growth in energy sector. Modernisation and technology upgradation plans are in pipeline to achieve desired growth in coal production. Foreign investors can participate in these efforts,” Coal Minister Sriprakash Jaiswal told investors here.

Read more: The Economic Times

Economy

FM directs review of retro tax amendments to woo investors

Finance Minister P Chidambaram on Monday announced a relook at retrospective amendments to the Income Tax Act, which affected companies such as Vodafone, in a move aimed at bringing back investor confidence in the Indian economy. This is a sharp deviation from the stand taken by his predecessor Pranab Mukherjee, now the President.

In his first statement after he took charge of the finance ministry, Chidambaram promised corrective measures to regain the confidence of all stakeholders, which took a beating after the announcement of General Anti-Avoidance Rules (GAAR) and tax on the indirect transfer of Indian assets by foreign residents, with retrospective effect.

Read more: Business Standard

‘US sees India as a stabilizing force in Asia’

The United States of America sees India as a stabilising force in Asia, according to Walter Russell Mead, James Clark Chase professor of Foreign affairs and humanities at Bard College and editor-at-large of The American Interest.

In an informal chat with a few journalists here on Monday, Mead said the US interests would be served best if all the countries in Asia were doing well.

According to him, China would not be able to dominate Asia if the economies of all the countries in the continent grow. Hence, the consensus among the successive presidents in the US was that India’s growth was something the American government should support.

Read more: Business Standard

India to set up three more manufacturing investment zones

Against the backdrop of sharp decline in manufacturing growth, India will be setting up three more mega industrial and investment zones as part of its endeavour to push the contribution of the sector up to 25 % of GDP by 2020. Commerce and industry minister Anand Sharma said the notification for setting up the National Manufacturing and Investment Zones (NMIZ) is expected to be issued by this month end.

“We are seriously considering three National Manufacturing and Investment Zones (NMIZ) of which one will be in Andhra Pradesh and two in Karnataka,” said Sharma who is on a three-day visit here.

Read more: hindustantimes

Business

Investment in equities offers wealth creation opportunities

PUNE: A two-day workshop conducted by Kotak Securities in Pune recently had experts discuss the volatility in the financial markets, basics of stock market investing, how economic conditions and indicators impact the forex markets, the approach to trade in currency derivatives and how the foreign exchange has grown over the years.

Anindya Banerjee, senior manager, currency derivatives research desk of the brokerage house, said, “We have witnessed how with the falling rupee, lower than expected GDP data, rise in inflation numbers and volatility in the stock markets has reduced investors’ market sentiments. Education is a critical need for people today especially to understand how investing in equities can provide wealth creation opportunities. The most important lesson that an investor needs to learn is that equity investment is very rewarding provided a cautious approach is adopted. This includes investment with long term horizon in a selection of good companies.”

Read more: Times of India

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