Hubballi Investors’ Meet generates MOUs worth over ₹72,000 crore

Posted by : Sajith Sreedharan on February 25th, 2020 in Industry News

Designation : Managing Director

Karnataka is a globally renowned knowledge hub, home to the largest number of R&D centres, technical and medical institutions, and start-ups in India. A pleasant climate, cosmopolitan culture and investor-friendly business ecosystem make Karnataka one of the most sought-after investment destinations in the country. Moreover, the government’s highly responsive administrative apparatus has been extremely proactive in simplifying and improving the state’s business landscape. Karnataka is geared to attract and absorb new investments across multiple sectors over the coming few years. On 14th February 2020, the government of Karnataka hosted the Invest Karnataka – Hubballi Conference, the first-ever investors’ meet held in Karnataka outside Bengaluru. Inaugurated by Chief Minister B.S. Yediyurappa, the main goal of this meet was to attract investors and reputed companies who could help develop North Karnataka as a leading destination for business investments. Another goal was to collaborate with business leaders, thought leaders, research institutions, think tanks and[...]

The Government of India’s Infrastructure Investment Proposal

Posted by : Sajith Sreedharan on January 18th, 2020 in Industry News

Designation : Managing Director

During a recent conference, Finance Minister (FM) Nirmala Sitharaman revealed that in a span of 4 months, she and her task force had held 70 meetings with various stakeholders engaged in various sectors. Following these meetings, her task force has identified a number of National Infrastructure Projects worth Rs. 102 lakh crores. She further stated that in the coming few weeks, another 3 lakh crore-worth projects are expected to be added to this list. This means that there are a total of 105 lakh crore-worth of projects in the pipeline. Out of these, the government has already made a commitment for 100 lakh crores . These projects under the aegis of 22 ministries spread across 18 states and union territories, will surely serve as one of the key drivers of economic growth in the country, and enable the government to meet its ambition of transforming India into a $5 trillion economy[...]

CFS and Warehousing sectors seek relief from massive increase in fire-risk premium under the new GIC directive

Posted by : Sajith Sreedharan on May 14th, 2019 in Industry News

Designation : Managing Director

Following the latest directive from General Insurance Corporation of India (GIC), the national reinsurer, for increasing premiums for eight industrial categories, container freight station (CFS) as well as warehousing sectors have reacted strongly and both have demanded CFS and warehouses be kept out of the ambit of the higher fire-risk reinsurance premium cover. The increase in fire-risk insurance premium is estimated to be 9-10 times of the present premium amount for both CFS and warehousing sectors. The CFS and warehousing sectors are planning to take their industry representation separately to GIC to present their respective cases. The reasoning of CFSs is mainly based on two aspects. CFSs firmly believe that they should be considered as ‘extension of the ports’, as they are also termed as ‘dry ports.’ Hence, they should be treated on par with ports. CFSs act like short transit points and activities are similar to those in ports. And,[...]

Synopsis on the Guidelines for establishing a Floating Storage Re-gasification Unit (FSRU) at Major Ports

Posted by : Sajith Sreedharan on April 1st, 2019 in Industry News

Designation : Managing Director

India is witnessing a rapid growth in the demand for Liquefied Natural Gas (LNG). This supports Government plans to double the share provided by LNG in the countries energy mix in the near future. As domestic production is inadequate to meet the increasing demand, India needs to import LNG. This means a need to deliver FSRUs within port limits as well as the related infrastructure. In the absence of specific guidelines, the Indian Port Association (IPA) has examined the issues related to FSRU within port limits and submitted a report in September 2018. The following guidelines for the establishment of FSRUs with the limits of our Major Ports are proposed: 1. Any entity may setup an FSRU, but all related expenses will be borne by the entity. The entity will have to submit a pre-feasibility report that shall be examined by the Port before it is given the required permission 2.[...]