Thursday 23rd November 2017
  • Redefining The Oberoi Mumbai

    In the last few years, Devendra Bharma, EVP, The Oberoi Group, has successfully steered The Oberoi, Mumbai, through one of its most difficult periods in its history. Negotiating an economic slowdown and the loss of its prime south Mumbai catchment, the hotel has defied all the odds to emerge as the country's best city hotel. "It's all right having a tag as a business hotel, but I think we've got to be a holistic hotel," says Bharma. He may well have unwittingly coined a new category for the hospitality sector. Indeed, to win an award such as the "Leading city hotel in India" as The Oberoi, Mumbai, did about two years ago, at the World Travel Awards, it must take an extra special focus. The hotel continues to play host to a diverse set of guests, including Prime Ministers, Presidents and heads of state the world over, celebrities, corporate leaders and artists all travelling through one of Mumbai's poshest districts. Read on..

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  • Green Energy Corridor delayed by 7-8 months; IPPs fail generation target on PPA issues

    The first phase of the green energy corridor that started with much fanfare has got delayed by around 7-8 months as generation capacities promised by September have failed to come up on issues primarily related to power purchase agreements. R P Sasmal, director operations at Power Grid Corporation said despite the transmission lines being ready, generation capacities have failed to keep pace in line with their promises. “We have to slow down to match the generation capacities being created,” Sasmal said. "Initially the renewable power producers in the solar and the wind energy space had given September and October as commissioning date, but they are now delayed by 7-8 months,” he said. The biggest issue faced by power producers is the Power Purchase Agreement (PPA) which discoms are now renegotiating after the solar and wind tariffs dropped dramatically in the last nine months compared with when these projects were awarded in the Banas kantha-Gujarat, and NP Kunta in Andhra pradhesh, industry experts said. In Andhra Pradesh one 250-MW project has started and the evacuation is going on, but another 750 MW is getting delayed, although the system is ready,” the official quoted above said. Read On ..

  • Logistics sector receives much-awaited infra status

    The logistics sector has finally received infrastructure status by the Indian government. The move is expected to help the sector attract more funding at competitive rates. Amending the existing framework, a notification issued by the Department of Economic Affairs (DEA) has widened the category of infrastructure sub-sectors to “transport and logistics” from the earlier sub-head of “transport”. Receiving infrastructure status would also help secure the sector – largely comprising small and medium enterprise (SME) – secure credit on a long-term basis. The definition of logistics includes industrial parks, warehouses, cold storage and transportation companies. According to the notification issued by the government, logistics infrastructure includes multimodal logistics parks comprising inland container depots (ICD) with a minimum investment of Rs 50 crore and a minimum area of 10 acres. Further, a cold chain facility having an investment of at least Rs 15 crore as well as warehousing facility with investment of minimum Rs 25 crore would come under logistics infrastructure. In both cases, the facilities should also have a minimum required area. Read On ..

  • MSME have low cyclical NPA, present significant pricing advantage for banks!

    With large corporate borrowers contributing a major part of bad loans of commercial banks, the micro, small and medium enterprises could be the silver lining for the lenders, a report jointly prepared by global consultancy firm EY and industry lobby group FICCI has said. The gross non-performing advances (GNPAs) ratio of commercial banks rose from 9.2 per cent in September 2016 to 9.6 per cent in March 2017. The net non-performing advances (NNPAs) ratio has increased marginally from 5.4 per cent in September 2016 to 5.5 per cent in March 2017. Data compiled by the Reserve Bank of India gives an idea of the problem of banks' exposure to large corporate entities. Large borrowers account for 56 per cent of gross advances and 86.5 per cent of GNPAs of banks, whereas, top 100 large exposures account for 15.2 per cent of gross advances. Segmental profiles of NPAs show that the mid corporate and larger SME segments have taken the biggest hit. Data also indicates a significant chunk of accounts that are bad in one bank but not bad in another. A significant part of latent NPAs could slip in the next few quarters. The revenue pool of mid and large corporates will probably stay subdued for the next 4-5 years due to stress in the lending books. Retail advances, on the other hand, continue to grow in medium term (with private sector banks & non-banking finance companies (NBFC) leading the growth path as they target latent consumption demand). However, slight increase in NPAs could impact growth of NBFCs in the longer term. There is a silver lining on the commercial side, the report said. The smaller end of SMEs (loans of less than Rs 1Crore) has been relatively stable over time, in terms of bad loan performance. Credit bureau data also reveals the extent of under penetration in this segment. With over 50 million MSMEs in the country (and over 40 million current accounts), there are only 4.5 million unique borrowers from the formal industry. Read On ..

  • Yes Bank, Amazon partner to train MSMEs online!

    India’s fifth largest private sector bank, has partnered with Amazon India to help micro, small and medium enterprises (MSME) make a transition from offline to online selling. Under its ongoing corporate social responsibility (CSR) project, Yes Bank has launched a training programme for offline MSME/retailers. The aim is to train entrepreneurs on e-commerce who will in-turn help offline MSME and retailers understand technology and sell online. This will enable enhancing of livelihood opportunities for a wider geographic base. The target for Phase-I of the programme is 25 training sessions, impacting 1,000 entrepreneurs across 12 cities, including Mumbai, Delhi, Bangalore, Pune, Ahmedabad, Lucknow and Jaipur. Yes Bank said it is targeting 1 lakh MSMEs by 2020 with this programme. Namita Vikas, group president and global head of climate strategy and responsible banking at Yes Bank, said, "We are committed to supporting the MSME sector by giving it the much needed thrust to put it on a sustainable growth path through our multifaceted CSR interventions. We are is pleased to partner with Amazon on this impact initiative for empowering MSMEs through e-commerce enablement.” Read On ..

  • Redefining The Oberoi Mumbai

    In the last few years, Devendra Bharma, EVP, The Oberoi Group, has successfully steered The Oberoi, Mumbai, through one of its most difficult periods in its history. Negotiating an economic slowdown and the loss of its prime south Mumbai catchment, the hotel has defied all the odds to emerge as the country’s best city hotel. “It’s all right having a tag as a business hotel, but I think we’ve got to be a holistic hotel,” says Bharma. He may well have unwittingly coined a new category for the hospitality sector. Indeed, to win an award such as the “Leading city hotel in India” as The Oberoi, Mumbai, did about two years ago, at the World Travel Awards, it must take an extra special focus. The hotel continues to play host to a diverse set of guests, including Prime Ministers, Presidents and heads of state the world over, celebrities, corporate leaders and artists all travelling through one of Mumbai’s poshest districts. Read On ..

  • Solar panel prices may fall in early 2018 as US weighs anti-dumping duty; China FIT incentives come to an end

    Indian solar project developers facing the brunt of rising panel prices can breathe a sigh of relief in the coming months as the United States and India plan to impose anti-dumping duties on Chinese solar module and panel manufacturers by December-end that could positively impact the industry. The development could be further aided by closure of incentives provided under the Feed-In-Tariff regime of China to the panel manufacturers. All put together the industry could be in for a good surprise in 2018 after going through a tough phase where aggressively bid projects failed to progress as desired. The solar panel prices have risen around 10-15% in the last six months on higher raw material prices and greater demand in China. The tier-1 module prices rose to around 40 cents/WP (watt peak), when they were expected to stay in the sub-25 cents/WP range. As per industry estimates, prices were expected to fall to below 25 cents as per the trend of 2 cents fall in previous several quarters. On the contrary the prices rose, due to large scale demand in China and increase in raw material prices. Read On ..

  • The Men's Innerwear Story!

    The domestic men's innerwear market in India is going through an exciting phase. While leading domestic innerwear players are trying to eat into the large unorganised sector, major foreign brands are gearing up to eat a larger slice of the premium and ultra premium pie. Read On ..

  • Government of India interested only in increasing its revenues, say MSMEs; Demonetization and GST double blows to the sector

    The findings of a latest survey amongst Micro, Small and Medium Enterprises (MSMEs) has confirmed the hardships undergone by this sector following demonetization and the implementation of the Goods and Services Tax by the government. The survey conducted by the All India Manufacturers’ Association (AIMA) which represents the interests of MSMEs, indicates a gloomy picture for the sector. Read On ..

  • Now an index for the MSMEs

    CRISIL and SIDBI come together to launch CriSidEx, a sentiment index for MSMEs Small and medium sector industry lender Small Industries Development Bank of India (SIDBI) and rating agency CRISIL have entered into a Memorandum of Understanding (MoU) to launch CriSidEx, India’s first Sentiment Index for Micro, Small and Medium Enterprises (MSME). This new index will indicate the current state and expected outlook on the vast and fast growing MSME sector of the country every quarter. The MoU was signed by Ms Ashu Suyash, Managing Director and Chief Executive Officer, CRISIL Ltd., and Mohammad Mustafa, Chairman and Managing Director, SIDBI in Mumbai on Monday. The main objective of this Sentiment Index is to provide crucial insights into employment, business environment and foreign trade, both the organizations said. Read On ..


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