Booming and Bubbling India-IX

While the enemies of the nation are getting emotionally involved in acts of terror, and that too on foreign land, India and Indians at home are trying to push the boom ahead in many fields in many ways.

Sensex makes history, hits 15k: India’s benchmark share index rose above 15,000 points for the first time on Friday. At 1:23 p.m. (0753 GMT), the 30-issue BSE index was up 0.75 percent, or 111.04 points, at 14,971.14, after rising as high as 15,007.22. And the investors with financial analysts and consultants are busy in predicting the rise by March 2008. A reporter finds the rise of sensex with Sachin’s 15K in one day matches.

For investors, India a shining destination: According to the Morgan Stanley Capital International (MSCI) Equity Indices, which compares the returns from various markets, India has given the annual return at 38.36% in the last five years as against the Chinese market, the largest emerging market in the world, that gave an annual return of 31.36% during the same period.

Indian Tech Revenue to Hit New Heights: The Indian technology sector will generate US$50 billion in revenues during the 2007 financial year, according to industry association Nasscom. Despite predictions that India’s tech bubble is about to burst, in terms of revenue, there is little sign of the industry slowing down. The Indian IT industry employs around 1.6 million software programmers, and contributed about 5.2% to India’s gross domestic product (GDP) in fiscal 2007

Top 10 IT majors’ exports cross $15 bn: TCS, Infosys and Wipro account for nearly $9 billion. The country’s IT software and services exports from the top-10 firms crossed $15 billion to touch Rs 68,236 crore in 2006-07.

Top 10 cos raise $3.1 billion through FCCBs: Ten Indian companies have raised a total of $3.1 billion through issue of foreign currency convertible bonds (FCCBs) in the first half of 2007, as per the financial data released by Bloomberg. The total volume of FCCBs issue is $4.8 billion.

India Too Rich for Some European Telcos: France Telecom’s CEO commented on the price of India’s telecoms companies. While France Telecom still had the option to enter India, its choice of acquisition targets was currently restricted to smaller and cheaper companies.

Kalam’s dream to come alive: Barely two weeks before he demits office, the government on Thursday fulfilled a dream of President APJ Abdul Kalam by approving a pan-African e-network project proposed by him to bridge the digital divide in that continent. India will set up an Rs 542.90 crore project to link 53 countries of the African Union (AU).

World`s study material just a few clicks away: Around 800,000 students from 1,000 colleges and educational institutions in India – including the Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs) – will be able to connect with the world’s best online study material, research laboratories and faculty members by March 2008.

Tele-treatment on its move: Srishti Software, a Bangalore-based company in the Healthcare Information Management System (HIMS) space, has implemented the Picture Archiving and Communication System (PACS) with high-definition television (HDTV) production facility in the President Estate Clinic, the family wing of Rashtrapati Bhawan. The facility is used for addressing the nation, tele-conferencing, and providing tele-education and tele-medicine services.

India to join ITER to boost nuclear fusion technology: India on 6 July decided to join the International Thermonuclear Experimental Reactor (ITER) project at an estimated cost of Rs 2500 crore. India’s participation in ITER would allow the country to “leapfrog in terms of our national technological capability in fusion energy“, the seventh member of an elite group of nations like China, European Union, United States, Japan, South Korea and Russia.

Japanese majors to invest $10 bn: Twenty-two Japanese companies including giants like Suzuki, Honda, Sony, Matsushita, Mitsubishi among others today committed investments worth $10 billion into India. The investments are expected to happen in the Delhi-Mumbai Industrial corridor. Japanese financial services major Nomura will buy 35% in Enam Financial Consultants valued at about Rs 4,200 crore (a little over $1 billion), for Rs 1,400 crore. It’s a confidence shown in the Indian enterprises.

India ahead of China in raising syndicated loans: According to data complied by global consulting firm, Dealogic, Indian companies account for 10.5% of the total syndicated loans by BRIC nations, with borrowings of about $8.28 billion in 2007 so far, higher than China’s 7.9% or over $6 billion.

Infosys selected as best outsourcing partner: Infosys Technologies Ltd was selected as ‘Best Outsourcing Partner´ by readers of ‘Waters´, a leading publication covering the needs of Chief Information Officers in today’s global capital market firms. Waters ranking recognises the outstanding achievements of solution providers that help financial institutions generate revenue and service their clients efficiently. Infosys was named the ‘Best Outsourcing Partner’ over nine competitors and by a margin of more than double that of the closest competitor in the survey.

Cognizant to hire 7,700 in India: Cognizant Technology Solutions Corp plans to spend Rs 1.88 billion (USD 46 million) building a new facility in India and also hire 7,700 employees, the head of its Indian unit said on Tuesday.

Animation industry to create upto 3 lakh jobs: According to a survey carried out by Assocham on “Will animation industry emerge as the next knowledge destination for jobs”, the findings revealed that the parks could alone generate employment opportunities for two lakh skilled animators within the next three years and a business worth $1billion (Rs 4,000 crore) by 2010, with a CAGR of 30%.

Pvt security firms to create 10m jobs: According to Central Association of Private Security Industry (CAPSI), annual turnover of the segment has touched Rs 22,000 crore last year and is growing at a rate of 25-30% growth per annum, and is poised to employ over 10 million in the next 5 years. Interestingly, the segment is providing job opportunity to people of below poverty line; most of them are from villages and doesn’t have any skill. It is certainly not a jobless growth.

Nokia Siemens to invest $100mn in India: Nokia Siemens Networks today announced its plans to invest $100 million (Rs 410 crore) in the country over the next three years as a part of its commitment to develop a strong telecommunications environment in India including a telecommunication equipment manufacturing facility in Tamil Nadu for wireless network equipment.

Premji among top 30 world entrepreneurs: Azim Premji and Bangladesh’s micro-credit leader and Nobel Prize winner Mohammad Yunus are among the all-time top 30 entrepreneurs, identified by leading business magazine Business Week.

Wipro to acquire Unza Holding: Wipro Ltd, with interests in software, consumer products and energy, would buy Singapore consumer goods company Unza Holdings Ltd for Rs1,010 crore in its biggest acquisition ever that gives Wipro market access in Vietnam, Hong Kong, China, Indonesia and Malaysia, where Unza has its own operations, and factories as also manufacturing bases to source soaps and toiletries from at a lower cost for the Indian market.

Welspun-Gujarat to build manufacturing unit in US: Metal pipe manufacturer Welspun-Gujarat Stahl Rohren is planning to build a $100 million manufacturing facility at Arkansas in US and expects to start production by spring of 2008 with a capacity of 3,00,000 net tonnes of tubular steel pipes annually for use in the oil and gas industry, and would hire about 300 workers.

Patni Computer acquires European telecom consulting company: Software services provider Patni Computer Systems Ltd has acquired European telecommunications consulting services company, Logan-Orviss International (LOI), for an undisclosed amount.

Accentia Tech to acquire two US firms: Accentia Technologies Ltd has signed agreements to acquire U.S-based G.S.R. Physicians Billing Service Inc. and GSR Systems Inc. that would add $2.5 million to its revenues in 2007.

Spentex acquires Czech firm: Country’s largest yarn manufacturer Spentex has acquired Schoeller Litvinov k.s. in Czech Republic for $25 million that would give the company a footprint in Czech Republic, Germany, France, Belgium, Netherlands and Luxemburg with an access to a large customer base in over 30 countries, adding an annual volume of about 19,000 tonnes.
Textile design and manufacturing company Himatsingka Seide has acquired 80% stake in US-based bed linen products distributor Divatex Home Fashions, Inc, for $53 million (around Rs 215 crore). In February, the company had acquired Italy-based Giuseppe Bellora Spa and is looking to strengthen the Bellora brand in Italy and the US

Bharti Airtel, the largest GSM- based cellular player, awarded to Nokia Siemens Networks a $900 million contract for expansion of its mobile, fixed lines and next generation network.

Delhi-Mumbai corridor to attract $90 bn: The proposed industrial corridor is 1,483-km-long and 300-km-wide and will have the Delhi-Mumbai railway freight corridor at the centre. The $90-billion, 1,483-km dedicated freight corridor coming up with Japanese help is to pass through six states-Maharashtra, Gujarat, Rajasthan, Haryana, Uttar Pradesh and Delhi, hardly touching Madhya Pradesh.

Growth in passenger car production: According to the International Organisation of Automobile Manufacturers (OICA), India posted a growth of 16.5 per cent in 2006 compared with 7 per cent in 2005.In absolute terms, India, with a production of 14.73 lakh cars, moved up one place to the seventh position in 2006 replacing the UK, which produced a total of 14.42 lakh cars, recording a drop of 9.7 per cent from the previous year. India manufactured 14.73 lakh cars growing at 16.5 per cent.

Calcutta-educated, Indian-American scientist solves a quarter-century-old riddle: Sankar Chatterjee, curator of paleontology at the Museum of Texas Tech University in the US, has determined just how a bird that weighed around 70 kg and stood 3.5 metres from beak to tail with a wing span of 7 metres could actually fly.

And finally, Taj is selected among the seven wonders. It is again a result of booming India, and its younger generation’s strength, as the win has come through SMSs and e-mails, 100 million in number. India’s story of telecom sector is unique for those who have first hand experience. It has now 200 million plus subscribers. It is a rightful place for this wonderful creation.

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