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Make in India Week: From Narendra Modi to Cisco and Arun Jaitley, top 10 key points to note in speeches

Tue February 16 2016, 8:23 pm
  • Make in India Week, Make in India Week news, Make in India, make in india schedule, make in india logo, make in india policy, Narendra Modi, business news

    1. Make India your centre, said PM Narendra PM at 'Make in India' week: Promising stable and predictable tax regime, Prime Minister Narendra Modi said this was the best time to invest in India as the government carries reforms including setting up a company law tribunal and effective IPR regime. "We have carried out a number of corrections on the taxation front. We have said that we will not resort to retrospective taxation. And I repeat this commitment once again. We are also swiftly working towards making our tax regime transparent, stable and predictable," he said at the 'Make in India' Week in Mumbai. "I have been saying that this century is Asia’s century. My advice to you is to Make India your center; if you want this century to be your century. I invite everyone sitting here and also those not here, to be a part of India’s unfolding story," he said. Listing the investment opportunities, Modi said that metro rail network is being set up in 50 cities and government is engaged in developing infrastructure in a big way in areas like roads, ports and rail. (AP)

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    2. Invest in India or you may 'miss the bus', says Cisco: Betting big on India as an investment spot, Cisco executive chairman John Chambers suggested businesses not to 'miss the bus' as the country is in sync with the speed of innovation in the current digital age. "Eighteen months ago, I said if you want to bet on one country, it is India as the country is in sync with the speed of innovation in the current digital age," Chambers during the ongoing Make in India (MII) Week in Mumbai. Chambers added that regardless of political divides, Indians have to come together for growth. "If you still haven't invested in India you may miss the bus," Chambers said. (Reuters)

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    3. Govt will create ecosystem for startup boost, says Maha CM: Maharashtra will create an ecosystem to encourage startups so that new ideas and innovations prosper in the country, Chief Minister Devendra Fadnavis said during the ongoing 'Make in India Week' here. "Innovation in startups should be encouraged. We have lacked in creating the ecosystem and now we need to create that. For startups we need to do the hand-holding, mentoring and financing and marketing. The Maharashtra State Innovation Council would create ideas for innovation which will require support of government. We believe if we create the ecosystem in the state it can lead in innovation explosion in the country," he added. (PTI)

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    4. Govt to bring in more banking reforms soon, says Arun Jaitley: Hinting at major banking sector reforms in the offing, FM Arun Jaitley said the country is not at a stage where the government can completely exit its holding in the 27 public sector banks. "There are a series of banking reforms which I am likely to announce...in the days to come, you may find something on that," said Jaitley, who will present the Union Budget on February 29. At the Make in India Week event in Mumbai, Jaitley said, "I don't think India has reached a state where the state can pull out of banking altogether. The government had last year announced the 'Indradhanush' programme to revamp the state-run banks. It has already put in place steps to professionalise their management. The government is committed to zero interference, and keeping an arms-length from these banks and letting the institutions run professionally.

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    5. Postal dept has overtaken SBI on digital connectivity, says Prasad: The postal department has surpassed the country's largest lender, SBI, in terms of digital connectivity even before its payments bank launch, Union IT and Communications Minister Ravi Shankar Prasad today said. "The core banking solution (CBS) or digital connectivity of the postal department has surpassed the State Bank of India's digital connectivity," Prasad said at a special session at the ongoing Make in India week. Prasad appealed to all to invest more in the country, saying India will be a USD 1 trillion opportunity for digital companies in five years. He elaborated that electronics will be a USD 350 billion industry while IT, IT-enabled services and e-commerce would bring in USD 350 billion and USD 250 billion for the communication sector. The minister said electronics and IT manufacturing are also crucial for the success of flagship programmes such as Start-up India and Digital India. (PTI)

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    6. Manufacturing is actually picking up, says Sitharaman: Trying to instil confidence in the investor community, Union Minister of State for Commerce and Industry Nirmala Sitharaman said manufacturing in the country is picking up and the perception that there is slack in the sector is wrong. "Manufacturing is actually picking up. The last quarter figure showed that the country's GDP growth will be over 7 per cent. It also revealed that manufacturing is growing over 9 per cent. Actually, the perception is going around in the circle without looking at the figures," she told reporters during the Make in India Week. The investment offers and MoUs that have been signed so far in the Make in India week are an indicator that manufacturing is gaining traction, she asserted. (PTI)

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    7. See $1 tn investment in power sector by 2030, says Piyush Goyal: Union Power Minister Piyush Goyal today said he expects nearly USD 1 trillion investment in the power sector, which includes coal renewables, by 2030. "Considering the initiatives taken by the government in the last few years in the power sector to improve efficiency, at a conservative level, we expect to attract investment of USD 1 trillion by 2030. The power sector, including the coal renewable sector, has the potential to attract a trillion dollar investment," Goyal said at the 'Make in India Week'. He said that in the short term for next five years till 2020, the sector is likely to attract nearly USD 250 billion. "Considering the initiatives taken by the government to enhance its renewable capacity, we estimate that the renewable sector alone will attract investment to the tune of USD 1 billion in the next 5 years," he said. (PTI)

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    8. Centre to invest Rs 3lakh cr to improve infra in Maha, says Gadkari: Union Minister Nitin Gadkari today said the Centre is planning to invest Rs 3 lakh crore on infrastructure development in Maharashtra over the next three years. "I am assuring the Chief Minister that we will complete investment of more than Rs 3 lakh crore within next three years in Maharashtra and we will change the basic infrastructure of the state," the Minister for Road Transport and Highways said at the ongoing Make in India Week. He also said that around Rs 68,000 crore of road projects will be completed in the state by December. Gadkari added that the length of National Highways in the state has been increased three fold to 22,442 kms. "At present, Rs 20,000 crore is sanctioned for various road development projects in Konkan area of the state alone," he had said. (PTI)

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    9. Transparent defence procurement will save money, says Parrikar: If the defence procurement system is open and transparent, it can bring down the purchase cost by at least 20-25 per cent without compromising on quality parameters, Defence Minister Manohar Parrikar said. He also said the new Defence Procurement Policy (DPP) will come into effect from April 2. "If we keep the defence procurement system open and transparent, it can bring down the cost by at least 20-25 per cent without compromising on quality," Parrikar told reporters on the sidelines of the Make in India Week. When asked how the Make in India drive will help localisation of defence production as large MNCs normally do not share their technologies, he said the forthcoming offset policy will have mandatory local production with tech transfer and if not, local production with mandatory local sourcing. (PTI)

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    Budget 2016: "After making a lot of noise about Make in India, it is shocking to see Minimum Alternate Tax (MAT) of 20 per cent being levied on startups. "This totally does away the so called advantages which were supposed to be provided to startups," he said. (AP)

  1. H
    Hemen Parekh
    Feb 17, 2016 at 6:44 am
    BRAVO , GADKARI-JI ! At the press conference during " Make in India " week , you announced electronic toll collection at 360 toll plazas from April 01 You said : " Waiting period at toll nakas range from 10 to 30 minutes and lead to wastage of much time and fuel Under the ( new ) system, stickers attached to vehicles will be scanned at toll plazas and the toll will be automatically deducted from motorists' pre-paid accounts " The news report says , a special body comprising two banks and a government agency will operate the system Of course , such systems have been successfully working in a number of countries for decades But you are a visionary ! And impatient ( - a rare virtue among Ministers ! ) And determined to make a difference to the existing poor state of affairs in our country's transport systems You may want to consider my following suggestion : * You have already decided that Indian Vehicle Manufacturers shall comply with Bharat VI emission standards , from April 2020 ( byping Bharat V standards ) * Please p an Executive Order ( no need for ping a Bill in Rajya Sabha ! ) which requires ( from April 2020 ), # ALL vehicle manufacturers to install a RFID sensor in each vehicle , # A device to measure emission level of each engine and broadcast the readings to a Web-based Network # ign each vehicle , a unique IP V 6.0 , internet address ( URL ) , linked with its Engine Serial Number * Install a IT enabled platform , which connects all State RTOs with the Union Transport Ministry thru VPN * Install software which , using these devices , continuously / dynamically monitors , # Physical location of each and every vehicle , on each and every road of our country , thru Google Maps This will display Traffic Density on all the roads and guide the motorists re routes to be avoided # The actual Emission Level of each vehicle, at all times and sends a Warning Signal to local RTO / local Traffic Police / the vehicle manufacturers / Central Transport Ministry When the actual emission level exceeds permissible level , a RED light on top of the vehicle will flash ! DEAR SHRI GADKARI-JI : If anyone says , " This cannot be implemented by April 2020 " , then ask him to provide an earlier date ! -------------------------------------------------------------------------------------------------------------------------------- hemenparekh / blogs 17 Feb 2016
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