Compiled by Corporate Catalyst (India) Pvt Ltd Period: September 1 – September 7, 2012 MARKET MOVEMENT Major Indices August 31, 2012 September 7, 2012 % Change Change POLICY WATCH
Commerce Ministry in favour of unrestricted exports of processed foods Delhi-Mumbai Industrial Corridor project gets approval to access ECB India seeks Japan's support for NIMZ Gujarat's new textile policy focuses on better price for cotton growers SEBI to relax KYC norms for FIIs Commerce Ministry in favour of unrestricted exports of processed foods THE commerce ministry will soon move a Cabinet note to allow unrestricted exports of processed food. The proposal is part of the commerce department's strategy to check frequent bans on export of food and agricultural items. The ministries of agriculture, food and commerce
have different views on this subject. The country's processed foods industry has attracted foreign investments in items such as casein and dried milk, which are produced mainly for export.
Therefore, frequent bans on export of such items harm business and discourages investors. Delhi-Mumbai Industrial Corridor project gets approval to access ECB INDIA is to allow the Delhi-Mumbai Industrial Corridor project to raise money via External Commercial Borrowings (ECB) to fund the ambitious project after the Japanese government sought changes in the rules. The government has allowed Japan to pick up 26% stake
in the project. The Japanese government, which is expected to invest $4.5 billion in this project, had sought dilution in the end use rules external commercial borrowings (ECBs) for the repayment
of rupee loans and for working capital, which currently barred by the RBI. India seeks Japan's support for NIMZ INDIA wants Japan's support for developing excellent infrastructure in the recommended National Investment and Manufacturing Zones (NIMZs) with the aim to strengthen its manufacturing sector. NIMZs will emerge as mega industrial zones with world-class supporting
infrastructure. Centre is providing a series of incentives such as exemption from capital gains tax and liberalized labor and environment regulations with the aim to strengthen these zones. The
National Manufacturing Policy also targets creating 100 million jobs by 2020. Gujarat's new textile policy focuses on better price for cotton growers THE Gujarat Government has announced a new textile policy that assures cotton growers best prices for their produce in India and overseas. The new Gujarat Textile Policy (GTP) 2012 is Look for Business Bulletin on our website at http://www.cci.in Page 1 of 4 Compiled by Corporate Catalyst (India) Pvt Ltd Period: September 1 – September 7, 2012 expected to attract investment of over Rs200 billion creating new employment opportunities for over 2.5 million people, 50% of them being rural women, during the next five years period. This
will also increase the state’s revenue and growth rate along with growth of the textile industry. The state government would also provide an interest subsidy of 5-7% without ceiling for five years on
new plants, power tariff concession of Re 1 per unit for five years, refund of VAT on purchase of raw materials and on expansion of existing and new units. The policy would also aims at ensuring a
better price realization for Gujarat’s cotton growers in national and international markets, and value addition in the entire chain.
SEBI to relax KYC norms for FIIs SEBI is to ease the Know Your Clients (KYC) norms for various overseas entities including foreign institutional investors. It will also do away with in-person verification requirements for
non-individual clients. The market regulator has given the clarifications on KYC norms for Foreign Institutional Investors (FIIs), sub-accounts and Qualified Foreign Investors (QFIs).
Foreign entities such as Sovereign Wealth Fund and overseas government agencies would not be required to provide residential and photograph, among others, to meet KYC norms. Instead,
global or local custodians of such entities can furnish a resolution from the concerned party’s board of directors and power of attorney to carry out transaction.
Competition Commission to issue notices to car manufactures Electronics Manufacturing Clusters to be notified in September 2012 India's internet user base touches 137 million Wind industry in Tamil Nadu gets a boost UP Cabinet approves new industrial policy Competition Commission to issue notices to car manufactures THE Competition Commission of India (CCI) may soon send notices to 17 car manufacturers, seeking their explanation on an alleged anti-competitive practice of selling spare parts to consumers at high prices. The commission is pursuing the case under Section 4 of the
Competition Act that relates to abuse of dominant position by enterprises. In 2011, a probe was conducted by CCI after a complaint was filed that certain carmakers were abusing their dominant
market position by selling spare auto parts to customers at high prices. As per the complaint, the carmakers were accused of abusing their dominant position by making available spare parts only
through their authorized dealers, who in turn sold them at high prices. Electronics Manufacturing Clusters notified in September 2012 The Central Government is to notify the Electronics Manufacturing Clusters (EMC) scheme in September 2012. The scheme will provide financial incentives to technology
companies that will set up manufacturing operations in India. It will enhance domestic electronics manufacturing. The government will provide financial support of up to Rs 500 million for setting
up a cluster that will take care of all needs for development of specific kind of electronic products, similar to government support provided for manufacturing companies in Taiwan and China.
India's internet user base touches 137 million Look for Business Bulletin on our website at http://www.cci.in Page 2 of 4 Compiled by Corporate Catalyst (India) Pvt Ltd Period: September 1 – September 7, 2012
THE number of claimed Internet users in India as of June 2012 was 137 million in India, which includes 99 million from urban India and 38 million from the rural parts of the country.
Internet users have seen a growth of 16% over last year. This number is estimated to grow up to 150 million by December 2012. There will be 105 million users in urban India while the rural areas
will contribute 45 million subscribers. Out of these 137 million claimed users, there are 111 million active users.
Wind industry in Tamil Nadu gets a boost THE wind industry in Tamil Nadu has received a boost as the state’s electricity regulatory commission has announced the revision of the Average Pooled Purchase Cost (APPC) to Rs 2.54
per unit. This is a 7.17% hike over the previous APPC of Rs 2.39 a unit. The APPC is the weighted average price at which an electricity distribution company buys power from various sources. Tamil
Nadu has a wind power capacity of around 7,000 MW. UP Cabinet approves new industrial policy THE Uttar Pradesh (UP) state cabinet has approved the New Industrial & Infrastructure Policy 2012. This new policy has come after a gap of 8 years succeeding the UP Industrial and Service Sector Investment Policy 2004, which lapsed in 2009. The new policy will address regional
imbalances and attract fresh investment in different sectors. It is aimed at encouraging the large Micro, Small and Medium Enterprises (MSME) base in UP, estimated at over 3 million. The
government is also aiming for a growth rate 11.2% in the industrial sector.
Essar to retail fuel in Kenya Mahindra to expand presence in used car business
NTPC to go ahead with West Bengal power project Wadias to focus on automotive business Wockhardt gets USFDA approval for depression treatment drug Essar to retail fuel in Kenya INDIA’S private fuel retailer Essar Energy will be selling fuel in Kenya’s retail market. Essar enters the Kenyan retail market after acquiring 50% stake in Kenya Petroleum Refineries Limited (KPRL) from the Royal Dutch Shell, Chevron, and BP back in 2009. The Kenyan
Government retains the other 50% in what is East Africa’s largest oil processor. The Essar outlets will receive fuel from the company’s refinery situated in Kenya. For the present, Essar will not
involve local partners as it seeks to study the new market with modest expansion. Mahindra to expand presence in used car business MAHINDRA First Choice Wheels, which is into used car retailing and part of the Mahindra & Mahindra Group, is aiming to expand its sales network to 200 outlets by the end of the year. It will add nine more service stations by March 2013. Mahindra First Choice's sales grew
25% for the year ended March over the previous year to 34,000 units. For this fiscal, it is targeting a 32% growth. The aim is to provide a system of sales, after sales service and financial service for
the used cars and out of warranty cars just like the primary car market.
Look for Business Bulletin on our website at http://www.cci.in Page 3 of 4 Compiled by Corporate Catalyst (India) Pvt Ltd Period: September 1 – September 7, 2012
NTPC to go ahead with West Bengal power project NATIONAL Thermal Power Corp Ltd. (NTPC) is committed to go ahead with the Katwa mega thermal project in West Bengal. Earlier, the state government handed over the 1,600 MW Katwa project in Burdwan district to NTPC after withdrawing it from West Bengal Power
Development Corp Ltd. (WBPDCL). The WBPDCL had acquired 387 acres out of the 1,035 acres needed for the project. The land takeover for the project was delayed because of resistance from
the people facing displacement. Wadias to focus on automotive business THE 276-year-old Wadia group is exiting its engineering business to focus on its profitable automotive venture. The group's portfolio restructuring will include an exit from Gherzi Eastern, an unlisted 50 year old, design engineering firm that has built facilities for
companies such as Reliance Industries and Siemens. The group also plans to merge the profit-making Electromags Automotive Products with the group's holding company Bombay Burmah
Trading Corp. Wockhardt gets USFDA approval for depression treatment drug DRUG firm Wockhardt has received final approval from the US health regulator for marketing generic bupropion hydrochloride tablets used for treating depression and is launching the product immediately. Bupropion tablets are generic version of Glaxo Smithkline’s Wellbutrin
SR tablets. The total market for this product in the American market is about $268 million. The product will be manufactured at the company’s facility at Waluj in Maharashtra.
Look for Business Bulletin on our website at http://www.cci.in Page 4 of 4
Post Natal Depression (PND) Prevention Program Guideline Adopted: Feb. 2005 Revised: Feb. 2007; Oct 2013 Reviewed: June 2011 Physician Contact: Virginia Maxanne Flores, M.D., Michael Hawkins, MD Depression is very common during pregnancy and the postpartum period. Based on data from the Pregnancy RiskAssessment Monitoring System (PRAMS), reported by the Centers for Disease Control (CD
Talking about teen suicide is a start Parents must be vigilant in spotting the warning signs By MARK BONOKOSKI "An average of 400 Canadian kids take their own life every year, enough to fill a jumbo jet. If a jumbo jet went down every year filled with kids, there would be an investigation pretty An information package -- guidelines for parents to detect depression and prevent the