Indian Economy: News, Updates and Discussions

CallSignMaverick

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Mumbai: The state government on Tuesday cleared its new policy for information technology (IT) and IT-enabled services offering several relaxations to the sector. As part of it, IT industries will be able to set up tech parks anywhere across the state. The policy also offers 50 to 100% subsidy in the stamp duty, waiving off electricity charges from 10 to 15 years, power supply on industrial rates among other sops and benefits to the IT industry. The state cabinet cleared the new IT and ITES Policy on Tuesday that aimed to attract an investment of ₹95,000 crore ($12 billion), 3.5 million jobs and export of ₹1 lakh crore ($12.5 billion).
$1.6 billion investment in EV battery manufacturing plant
TATAs line up over Rs 7,600 crore ($1 billion approx) to fund its electronics business
KredX aims for $200 million in export financing this year through GIFT City



CISCO manufacturing output from its upcomig plant in Chennai is targeted to be $1 billion






Adani Group has revived its investment plan for Mundra Petrochem Ltd, India’s largest polyvinyl chloride (PVC) plant, with initial funding of ₹14,000-16,000 crore ($2 billion).
India Plans Rs 15,000 Crore ($2 bn) PLI Scheme To Promote Setting Up Of Grid-Scale Battery Storage
India will offer Rs 3,760 crore ($455.2 million) in incentives to companies setting up battery storage projects totalling 4,000 megawatt hours (MWh) under a scheme announced earlier this year.
LG Electronics Global CEO visits India, company to ramp up investments in local factories
Web Werks and Iron Mountain joint venture to invest $170 million in Navi Mumbai data center.
Blackstone bets big on India’s warehousing, to grow logistics portfolio to 100 million square feet!
Megaproject: Newly built 6.2 million TEU Vizhinjam transshipment port in Kerala to commission by May 2024 at a cost of $1 billion.


IndiGo orders 500 additional jets from Airbus, eclipsing Air India's 470 aircraft order made this year which was the largest single order in the history of aviation.

Mega transshipment port complex with a capacity of 16 million TEU worth $6 billion in Nicobar Islands, close to Indonesia. Would be amongst the world's largest ports upon completion.


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Blackstone’s Lumina CloudInfra to invest over $300 million to set up Navi Mumbai hyperscale data center

Read more at:

GQG Partners looks to invest $1 billion more in Adani Group​







-> Tata Realty plans to develop 5 million square feet office space in Bengaluru, to invest ₹4,000 crore.

-> For Pune, Tata plans to invest Rs 2,000 crore to add 3.5 million square feet in the non-IT commercial segment branded as Intellion Edge.

->In Gurugram, Tata is building 1.6 million square feet office project.

->Tata also building its largest commercial office project in Navi Mumbai at 7 million square feet
Singapore based STT GDC to invest Rs 2,000 crore ($250 million) in two more data centres in Pune
A total of over USD 2.3 billion in investments are expected over the next 2 – 5 years, and more than USD 0.4 bn of investment is expected during 2020-2023 period. The report also states that ~12,000 rooms are likely to be added in 2023, and the number of rooms is expected to grow at a CAGR of ~3.3% by 2025.
HYDERABAD:
Industries Ministet K T Rama Rao’s delegation has signed a major deal with TechnipFMC that has proposed to set up its software Global Delivery Center & Precision Engineering Manufacturing Facility, creating 2,500 jobs in engineering and 1,000 jobs in the manufacturing facility, in Hyderabad. The company proposed to invest Rs.1,250 cr ($160 mn) in the facility and it would create Rs,5,400 ($652 mn) crore export value.

The Minister had a fruitful meeting with the CEOs and many of them signed MOUs with the government to set up their offices in cities such as Nizamabad, Siddipet and Nalgonda. Very soon, Tier-II cities in the state will get more than 2,500 IT jobs which will in turn create indirect employment for 10,000 people.




A Bain Capital Owned company @vxiglobal, leading provider of customer experience solutions, with presence in 42 locations across North America, Latin America, Asia, Europe, and the Caribbean, makes a grand entry into Hyderabad - to setup a 10,000 employee center.
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CtrlS to invest $18.1 million in a Data Centre project in Odisha




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Exide is setting up a 12GWh lithium ion cell manufacturing plant in Bangalore at an estimated project cost of Rs 6,000 crore ($750 million) in two phases. The company is already manufacturing lithium ion-based modules and packs at its plant in Gujarat.

GAIL plans $4.9 billion ethane cracker in West India​



Global financial markets infrastructure and data provider London Stock Exchange Group (LSEG) will be establishing a technology centre of excellence (CoE) in Hyderabad.

The announcement about the proposed facility, which will be generating employment for about 1,000 people in a year, was made after Minister for Industries and IT K. T. Rama Rao, who is on an official tour to the U.K., met with Group’s CIO Anthony McCarthy in London.


Must read thread




India's Parvatmala Project

>$15 billion investment
>1200 kilometres long ropeways to be built
> 260 Ropeway projects across India





The World Trade Centre in Shamshabad, Telangana under construction would be the amongst the world's largest world trade centres with a built-up area of 10 million square feet.1703566524934.png

Same company is building a World Trade Centre in Visakhapatnam of 4 million square feet built-up area.1703566546545.png
 


$2.5 billion investments in Greater Noida for Data Centres.






Indian Oil Corp to set up aviation fuel plant with LanzaJet in Haryana​

The company is looking at an investment of about 23 billion rupees ($280.1 million), S.M. Vaidya said on the sidelines of an industry event in New Delhi.​






STT GDC India set to double data centre capacity in next 3-5 years with $1 billion investment​



Indian Oil capex investment to be ~ $4 billion this year.
Samsung enters in OLED TV segment in India; to manufacture locally
Brazil’s Embraer is in talks with India’s Tata and Mahindra groups, among others, for an aircraft manufacturing partnership, top company executives said, as the world’s third-largest passenger jet maker works to expand its India foothold.
The Centre is looking to include refractories in the upcoming Production Linked Incentive Scheme 2.0 for steel as it aims at doubling the country's production capacity for the metal to 300 million tonne by 2030. India already is the 2nd largest steel manufacturer in the world.




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India set to be third-largest construction market in 2024: CNH Industrial president
India is CNH Industrial’s sole manufacturing hub in the Asia-Pacific region, where it is ramping up capacities to 10,000 units annually by the next year, making it the 2nd-largest factory for the company globally and its largest export hub.

The company wants to increase its India capacity by 50% to 15,000 units in the medium term and is targeting a production of 12,000 units a year by 2025. 50% of our production in India goes towards exports to 105 countries.

The Indian ER&D sector is projected to be worth over $63 billion by 2025, according to NASSCOM, and most of these services providers stands to benefit.

1,00,000 prefabricated biogas plants to be produced in world’s largest manufacturing facility in Pune​


The trade landscape is changing structurally to India’s advantage​

The growth of the new product basket outpaces the growth of legacy products. Productions such as helicopters, arms and ammunition, and electrical machinery registered some of the highest growth rates.



JSW under the PLI scheme, has planned to set up a solar module manufacturing facility. It has received the LoI (letter of intent) for 1 GW per year capacity for a wafer-cell-module manufacturing facility.

The faster adoption of Generative AI globally has an “advantage India'' angle as AI consulting firms are seeing increased client interest as they are getting RFPs, POCs and projects around the new technology theme.


India’s speciality chemicals sector is a ‘Goliath' in the making, according to Jefferies. It believes the gradual decline in EU's share in global chemical capex as well as sourcing needs beyond China bode well for the Indian producers.


Anupam Rasayan has signed a Letter of Intent (LoI) worth USD 265 million (Rs 2,186 crores) with a Japanese speciality chemical company for the supply of new age patented life science active ingredient for next five years.

JK Lakshmi Cement Ltd will look to invest about Rs 8,000 crore ($1 billion) over a six-year period, between 2024 and 2030, to ramp up capacity to 30 million tonnes per annum (mtpa) from the projected 18 mtpa capacity at end-FY24.
India among most vibrant startup ecosystems in the world: Sequoia's Roelof Botha.

Expect India's GDP growing over 7% in 2023-24: CEA Anantha Nageswaran​

 
Noida International Airport
India's largest airport under construction
> 5 million passengers per annum traffic from day 1
> 225 million passengers per annum capacity by final phase.



Noida Fintech City built around the NIA Airport
The Fintech city will have facilities like Metro rail connectivity, a stock exchange, crown funding, insurance companies, corporate companies, research and development facilities, shopping centres, e-payment gateway platforms, digital money, SEBI and RBI's offices, data centres, five-star hotels, commercial complexes etc.
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Noida Aerocity
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Nexus @ NIA has created a timeless iconic Airport City designed to inspire the Indian intellect. Designed as a mixed-use master plan with connectivity at its core, Nexus @ NIA is set to become the first Net Zero Airport City across India.

The Great Park is designed to create a vibrant and sustainable Airport City, with a mixed-use community fostering a synergy between public / private enterprise. The master plan is separated into three sectors from the west along the Yamuna Expressway, terminating at the garden forecourts to Terminals 1 and 2. The Great Park spans across all sectors seamlessly stitching the Airport City together creating a grand landscaped promenade bringing millions of passengers annually to the Noida International Airport.

Sector 1 is the gateway leading into the Airport City containing a mixed-use program including office, retail, hotels, residential, healthcare, a metro train station, and a MICE facility with direct connectivity to the airport. Sector 2 is centrally located with a mixed-use aviation focused commercial and residential program. Sector 3 plays a crucial role within the Airport City with an airport focused program including hotels, retail, conferencing facilities, the ground transportation center, parking, and the terminus station to the Noida Metro. The vision for Sectors 1 to 3 is that they become a vibrant liveable city offering opportunities for people to live, work, play, shop, learn and innovate close to each other with direct connectivity throughout the Airport City.
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72km long High-Speed Airport Express Metro Rail System


Air India SATS to build country’s largest multi-modal cargo hub at Noida International Airport​

 
I just calculated all the Investment posted in just this SINGLE THREAD and guess how much it came to ?

162 BILLION $ ++


I did not even include capacity expansion where investment amount was not mentioned. !!!
 

Singapore's Digital Edge to invest $2 billion to set up its first India data centre​



Adani Group to built 1000 megawatt data centres over a decade, twice the current market size!


The Web Werks-Iron Mountain Data Centers joint venture plans to invest around $1 billion to set up data centres in India’s major cities by 2026.




Amara Raja's $1.2 billion Giga Factory under construction













Investment in the Indian green energy sector could reach as much as $800 billion over the next decade, said Debasish Purohit, co-head of investment banking for Bank of America in India.

$1 billion in pharmaceutical investments


Bhubaneswar metro rail project to start construction by year-end.



Auto parts maker Musashi enters India's EV space, to invest Rs 70 cr​








SoftBank may invest $100 million each in 5 Indian start-ups, talks on: Report​



India to export $100 billion worth of mobile phones, Dixon Technologies to open 3 new manufacturing facilities in UP: Sunil Vachani​



Airbus: TASL to make Airbus A320neo aircraft cargo and bulk cargo doors in Hyderabad


Schneider Electric To Add Five Factories In India To Meet Energy Transition Needs The cost of setting up these factories is estimated at Rs 1,400 crore ($190 million) in the next two years.



LOGOS & Ivanhoe Cambridge acquire Pune land for mega Logistics Park


NTT breaks ground on $241.5m data center campus in Kolkata, India​

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TIDCO FinTech City Chennai
Tamil Nadu's Chief Minister is set to lay the Foundation Stone for the Fintech City & Fintech Tower Projects today. The Fintech City, spanning 56 acres in Nandambakkam, Chennai, will house both International & National BFSI (Banking, Financial Services & Insurance) institutions.
Investment Potential: $1.5 billion
Job creation: 80,000

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Now its at 181.8 BILLION $ ++

Excluding the 800 Billion $ investment estimate in green energy.
 
Indian Railways will invest at least 84 Billion $ over the next decade to lay a record km of new train tracks.
 

Indian Railways will invest at least 84 Billion $ over the next decade to lay a record km of new train tracks.
Yes
 





Deloitte US India announces opening of three offices in Pune, Chennai, Kolkata​


"In the coming year, over 10,000 skilled professionals specialising in various areas such as artificial intelligence, data analytics, cybersecurity, cloud, human capital, assurance, tax, valuations, and mergers and acquisitions will operate from these locations," it said.

Deloitte US India said that there are increasing opportunities in business services exports from the country.



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Adani Group begins work on ₹21,844 crore ($2.6bn) data centres in Visakhapatnam, to create 50,000 Jobs​



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India is the second most coveted investment market after the United States for sovereign wealth funds and public pension funds in 2022 said a study by asset manager Invesco. India’s economic power has been on the rise, and sovereign wealth funds operating around the world, have taken note of the trends.

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India's largest under construction airport
The airport, billed to be India's largest upon completion, is being developed in four phases — with two interconnected terminals and an annual passenger capacity of 70 million.

As per a recent announcement made by the Uttar Pradesh Cabinet Minister, Suresh Khanna, while presenting the state budget for fiscal year 2023-24, the airport will have a total of five runways instead of the initial proposal of two.

The Hyderabad Aerocity is currently the largest — spread over 1,500 acres, followed by Delhi — built on 200 acres.



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IBC plans to set up a non-captive gigafactory, involving a substantial investment of approximately Rs 8,000 crore ($1 billion)​




Mercedes-Benz announces creation of 1,000 R&D jobs in India​

Mercedes-Benz Research and Development India will create jobs for more than 1,000 engineers at its Bengaluru centre.




Aditya Birla Group bets on branded jewellery with over $600 million investment




Nike, Adidas shoes maker Pou Chen to invest nearly $281 million in India




Ciena to invest $50-100 million for manufacturing in India



SpiceJet's subsidiary SpiceXpress and Logistics get $100 million investment from UK-based group




KKR to invest additional $250 million in India's Serentica Renewables



US specialty chemical firm Lubrizol to invest $150 million in India




Amp Energy India closes $250-million investment​


Verlinvest’s V3 Ventures opens India operations with €100 million corpus​


Singapore-based Princeton Digital Group Plans To Expand To Other Indian Cities; Invest About $300 Million On Each Location On Data Centres.




Yulu plans to invest $500 million in three years, eyes 10X growth in revenues




CleanMax gets $360 million Brookfield boost for 5GW target



Kotak Alternate's $800 million fund to invest in 5-7 data centers in India


Bristol Myers Squibb to invest $100 million in setting up global innovation centre in Hyderabad




Serum Institute of Life Sciences to invest additional $150 million in Biocon arm






TechnipFMC to invest $150 million to set up facility in Hyderabad





Videotex to invest Rs 100 cr into a new TV manufacturing facility, eyes exports from India
The company’s current capacity, which is also in Greater Noida, is over 1.4 million TVs per annum.

Omega Seiki to invest $981 million in EV parts plants in India

Noida City Tempts Startups With Its Office Leasing Scheme To Become $1 Trillion Economy By 2028



Apple’s iPhone Export From India Crosses ₹10,000 Crore ($1.25 billion) Mark In May



Foreign investors ditch China to start $9 billion stock buying frenzy in India



Foxconn’s $1 Billion EV Factory in India to Create Thousands of Jobs

Vedanta lays out $1.7-billion capex plan for FY24




India mulls rule changes to boost $731 billion insurance sector




India’s eB2B market to reach $90-$100 billion by 2030: Report





Reliance may earn $10-15 billion revenue from new energy business by 2030





DVC to set up three brownfield power plants in India, will invest ₹600 Billion ($8 billion)




Indian SaaS industry to reach $26 billion in revenues by 2026: Report



India's Reliance to raise up to $2 billion to fund expansion, Bloomberg reports



Google, Bain & Temasek say India will become a $1 trillion internet economy by 2030






India on track to be a $5 trillion economy by 2025, says SBI Chairman Dinesh Khara




India’s GDP is likely to grow from current $3.3 trillion to $8.0 trillion in 2030 and India’s market cap is likely to revive from $3.5 trillion to $9 trillion.
 
London-listed flex office space provider International Workplace Group (IWG) plans to expand to Tier 2 and Tier 3 cities in India, given the increased demand for flex workplaces in these locations. “We are looking at Mangalore, Kochi, Thiruvananthapuram, and Mysuru for immediate expansion,” Harsh Lambah, Country Manager, India, IWG told Moneycontrol.



Japan’s Sumitomo Mitsui Banking Corp. (SMBC), Asian Infrastructure Investment Bank (AIIB), and private equity firm Intermediate Capital Group (ICG) have committed to invest $250 million in Amp Energy India




Telangana drives in India's first mobility valley, eyes $6 billion investment by '2030



Japan's Sumitomo to invest $3.6 billion in India office complexes​
















India to be fastest growing 5G region globally by 2028: Ericsson report​



Private Equity funds moving away from China to India, Japan amid geopolitical tensions​






IT company Axtria Inc, which focuses on the life sciences industry, has plans to hire over 1,000 people in data science, software development, and data engineering in the next eight months, the company said on Sunday.

The company is hiring for its offices in Gurugram, Bengaluru, Noida and new centres coming up in Pune and Hyderabad, Axtria said in a statement.





India’s a priority market for Google, excited by tech innovation here: Senior VP Prabhakar Raghavan



Non-banking lender SMFG India Credit eyes Rs 75,000 crore ($9.5 billion) loan book by FY26​




NaBFID raises ₹10,000 crore ($1.25 billion) through listed bonds​




BankBazaar says India may cross 100 million credit card mark soon​







NaBFID eyes Rs 60,000 crore ($8 billion) loan book, Rs 1 lakh crore ($12.5 billion) loan sanctions by March 2024



Tata Steel plans Rs 16,000 crore ($2 billion) capex in FY24 for domestic, global operations​





Alternative Investment Fund inflows to cross $500 billion by 2030: Report
 

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