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The government has approved a project entailing World Bank assistance worth USD 1 billion to provide skill training to over 5 million people.

Skill Training for Employability Leveraging Public Private Partnership (STEPPP) project was cleared by the Department of Economic Affairs, the Ministry of Skill Development and Entrepreneurship (MSDE)said in a release today.

"The project will see a World Bank assistance of USD 1 billion and is expected to provide skill training to over 5 million people in addition to strengthening the skill training infrastructure in underserved geographies and sectors", the release said.

Welcoming the partnership with the World Bank, Union Minister for Skill Development and Entrepreneurship highlighted the importance for an integrated approach towards Skill India.

"The target for skill development in is huge and requires a partnered effort by the centre, states, industry, PSUs, and trainers. The association with the World Bank is of strategic importance to achieve the Prime Minister's vision to make India the skill capital of the world", said Rudy.

Prime Minister Narendra Modi had launched the National Skill Development Mission (NSDM) on July 15 this year.

The skill training project aims to implement the mandate of the NSDM through its core sub-missions, among other objectives. The STEPPP project will be implemented in mission mode through World Bank support and is aligned with the overall objectives of the NSDM.

 

Source:- Business Standard

Poised to play a larger role in 'Make In India' initiative of the Modi government, the domestic construction equipment industry has a potential to grow about two-fold to USD 5 billion by 2020.

"The domestic construction industry is set to become a driving force in 'Make in India' initiative. From a USD 2.8 billion industry at present it has the capacity to grow to over USD 5 billion by 2020 on the back of infrastructure growth which is bound to take place under the present regime", senior executive and EXCON Chairman Vipin Sondhi told PTI.

EXCON is the international construction equipment and technology trade fair beginning here tomorrow that will see participation from about 800 companies from 22 countries. It is South Asia's largest construction equipment and technology trade fair.

The latest data available with the industry show the slowdown earlier has resulted in conservative projection for construction industry to USD 5 billion in the next five years but it is bound to grow exponentially post 2020 on the back of slew of steps by the current government.

Previous reports had projected USD 20 billion growth for the industry by 2022 but three years of de-growth had led to revised USD 5 billion projection, Sondhi, who is also JCB MD & CEO, said.

Sondhi said de-growth has stopped and amid the proactive measures by the government, especially in the highways sector, the industry is set to grow manifold and bound to bolster economic growth.

"There is much optimism in the industry. A lot of initiatives have been taken in the highways sector with several key policy measures to roll out stuck projects and there is a need to replicate it across various segments", Sondhi said.
With stranded projects now making a move in the sector,

the industry is hopeful of similar steps in other areas, Sondhi said adding measures were needed to address the bottlenecks faced by projects at the centre as well as states.

"Corrective measures and industry friendly policies of the Government would greatly help for the infrastructure development in the country. Infrastructure growth holds the key to the construction equipment industry realising its potential in India", Sondhi said.

He also suggested that the government could set up a Land Bank Corporation by utilising the land available with Railways, Defence, Ports, PSUs etc.

"The industry believes that if the government offers projects with necessary clearances and other due diligence, not only the players would benefit but the country at large would tremendously benefit as India has huge growth opportunities unlike China, Brazil, Russia and Europe", he said.

In the 12th Five Year Plan, the Government has earmarked approximately USD 1 trillion for infrastructure investment.

"Consequently, infrastructure spending is expected to grow from 7.2 per cent of GDP in 2012 to 9 per cent by 2017. This is likely to spur the demand for ECE, and if the industry's full potential is realised, the total turnover of the industry could reach more than USD 5 billion by 2020", he said.

Several initiatives of the Government such as 100 smart city projects, urban infrastructure including metro rail projects, port development, industrial corridor and dedicated freight corridor, would boost demand for construction equipment, he added.

The focus of the EXCON event from November 25 to 29 is 'Make in India-Building Infrastructure, Building the Nation' and the number of exhibitors has grown 10.5 per cent to 808 this year, he said.

The CII expects 32,000 specialised visitors including representatives from foreign players, PSUs, various government Ministries like Defence, Railways, Highways and Shipping, and contractors and developers.

 

Source: Business Standard

Considering India's notable in thesector, has ranked the country at fifth place on a list of 30 countries on in the renewable energy space. The ranking done by Bloomberg New Energy Finance's annual report indicates that clean energy's centre of gravity is shifting from developed to developing countries. The report ranked China in the first place, followed by Chile, Brazil, South Africa and India.

The report said: "The new policy ambitions from the (Narendra) Modi government signal clean energy opportunities in the country." The strongest parameter in favour of India was value chain, while lower-than-expected investment continues to be the weak link.

As became more cost-competitive in emerging markets in 2014, there would be a surge of investment and capacity-building in the Asian countries, especially China and India, the report noted. Last year, India added 5 gigawatt (Gw) of clean energy generation capacity.

 

 

CLEAN BREAK IN RENEWABLE SPACE
  • $343.2 billion Total clean energy investments (2009-14) in China
     
  • $52.5 billion Total clean energy investments (2009-14) in India
     
  • 262.5 Gw Installed power capacity
     
  • 38,360 Mw Total renewable energy capacity
     
  • 5,009 Mw Renewable capacity added in 2014
     
  • 14.6% Renewable share in total installed capacity
Top Indian states: Tamil Nadu, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan & Gujarat


"Major reforms in India brought by the Modi administration bring hope of quicker deployment for the country's eager renewable energy developers," said Climatescope.

Among the states, Tamil Nadu led the pack with the highest wind energy capacity, followed by Karnataka, Madhya Pradesh, Maharashtra, Rajasthan and Gujarat.

Madhya Pradesh scored the highest among Indian states on growth rate of clean energy investments. The state's favourable land policy and easy clearances have resulted in attracting projects. Gujarat, which was once a haven of clean energy investments, slipped from the top slot due to policy uncertainty and litigation over tariff.

Maharashtra's high feed-in tariff led to a surge in wind capacity.

The report noted: "Maharashtra has done relatively little to encourage private investment in solar; it has held no tenders for power contracts and offers no feed-in tariffs."

Renewable energy in Rajasthan at 4 Gw represents a high share (32 per cent) of total power capacity of 13 Gw, compared to other states. "The overall renewable energy capacity grew 14 per cent in 2014 in the state, but it has done little policy-wise to encourage solar development through incentives and the state's distribution utilities are among the financially shakiest in India," said the report.

At 7.4 Gw, Tamil Nadu has more wind installed than any other state. Since 2012, however, annual new-build rates have fallen and in 2014, only 208 megawatt was commissioned. This is largely due to the poor financial health of state-owned distribution utility companies and occasional payment delays to power project owners.

The Indian government's goal of providing round-the-clock power to 1.25 billion citizens has triggered huge interest from investors. The report noted that a strong energy minister overseeing coal, power, and new and renewable energy sectors could have a positive influence.

The Modi-led government has revised the targets for renewable energy to 175 Gw by 2022.

Source: Business Standard

India-specific cumulative fundraising attained its peak in the pre-global financial crisis (GFC) period. During this period between 2005 and 2008, there were 50 such funds that raised USD 16 billion in total. However, post-GFC, only 29 funds got raised in five years, with cumulative fundraising of only USD 3.9 billion.
The cycle started gaining momentum again just before the 2014 general elections on the hopes of a Modi-led government coming to power at the Centre. Around USD 2.2 billion has been raised so far in the current investment cycle. This shows a definite rise in confidence for Indian real estate.



Quantum of domestic investment v/s foreign direct investment
Not only has the volume of investment increased but there has also been an increase in the average ticket size from USD 134 million to USD 184 million. This shows how investors turned positive towards India post-Modi becoming the prime minister. If investment done in USD alone is considered, the average ticket size has gone up from USD 159 billion in 2009-13 to USD 388 billion in the ongoing phase that started in 2014.

Foreign investor interest grows once again
During the pre-GFC phase, 82 per cent of funds got raised in USD. This reduced to 57 per cent in post-GFC phase when the going got tough and micro-market understanding was required more than banking on the macro-economy alone. The contribution, 2014-onwards, has increased considerably to 70 per cent - hinting that the positivity is here to stay for some time.

These changes reflect how foreign investor participation rises when the economy is moving up but when the tide turns, it's the domestic investors - with familiarity of developments in micro-markets - that increase their focus on investment.

 

Source:- Business World

India-specific cumulative fundraising attained its peak in the pre-global financial crisis (GFC) period. During this period between 2005 and 2008, there were 50 such funds that raised USD 16 billion in total. However, post-GFC, only 29 funds got raised in five years, with cumulative fundraising of only USD 3.9 billion.
The cycle started gaining momentum again just before the 2014 general elections on the hopes of a Modi-led government coming to power at the Centre. Around USD 2.2 billion has been raised so far in the current investment cycle. This shows a definite rise in confidence for Indian real estate.

Quantum of domestic investment v/s foreign direct investment
Not only has the volume of investment increased but there has also been an increase in the average ticket size from USD 134 million to USD 184 million. This shows how investors turned positive towards India post-Modi becoming the prime minister. If investment done in USD alone is considered, the average ticket size has gone up from USD 159 billion in 2009-13 to USD 388 billion in the ongoing phase that started in 2014.

Foreign investor interest grows once again
During the pre-GFC phase, 82 per cent of funds got raised in USD. This reduced to 57 per cent in post-GFC phase when the going got tough and micro-market understanding was required more than banking on the macro-economy alone. The contribution, 2014-onwards, has increased considerably to 70 per cent - hinting that the positivity is here to stay for some time.

These changes reflect how foreign investor participation rises when the economy is moving up but when the tide turns, it's the domestic investors - with familiarity of developments in micro-markets - that increase their focus on investment.The government has approved a project entailing World Bank assistance worth USD 1 billion to provide skill training to over 5 million people.

The government has approved a project entailing World Bank assistance worth USD 1 billion to provide skill training to over 5 million people.

Skill Training for Employability Leveraging Public Private Partnership (STEPPP) project was cleared by the Department of Economic Affairs, the Ministry of Skill Development and Entrepreneurship ( MSDE)said in a release today.

"The project will see a World Bank assistance of USD 1 billion and is expected to provide skill training to over 5 ..

The government has approved a project entailing World Bank assistance worth USD 1 billion to provide skill training to over 5 million people.

Skill Training for Employability Leveraging Public Private Partnership (STEPPP) project was cleared by the Department of Economic Affairs, the Ministry of Skill Development and Entrepreneurship ( MSDE)said in a release today.

"The project will see a World Bank assistance of USD 1 billion and is expected to provide skill training to over 5 ..

Indo-UK Healthcare, a consortium of Indo-British promoters, has coIndo-UK Healthcare, a consortium of Indo-British promoters, has committed to invest over Rs 10,000 crore to bring the famed NHSHospitals of England, apart from other leading English educational institutions and universities into the country over the next few years.

 

The initiative is supported by Healthcare UK, a joint initiative of the British department of health, UK Trade and Investment and the National Health Service (NHS) England.

 

Under the agreement signed in the presence of visiting Prime MinisterNarendra Modi and his host David Cameron, the first hospital, King’s College Hospital, England will come up in New Chandigarh at an investment of 100 million pounds or Rs 1,000 crore, a statement from Indo-UK Healthcare said.Indo-UK Healthcare, a consortium of Indo-British promoters, has committed to invest over Rs 10,000 crore to bring the famed NHS Hospitals of England, apart from other leading English educational institutions and universities into the country over the next few years.

 

The initiative is supported by Healthcare UK, a joint initiative of the British department of health, UK Trade and Investment and the National Health Service (NHS) England.

 

Under the agreement signed in the presence of visiting Prime MinisterNarendra Modi and his host David Cameron, the first hospital, King’s College Hospital, England will come up in New Chandigarh at an investment of 100 million pounds or Rs 1,000 crore, a statement from Indo-UK Healthcare said.mmitted to invest over Rs 10,000 crore to bring the famed NHS Hospitals of England, apart from other leading English educational institutions and universities into the country over the next few years.

 

The initiative is supported by Healthcare UK, a joint initiative of the British department of health, UK Trade and Investment and the National Health Service (NHS) England.

 

Under the agreement signed in the presence of visiting Prime MinisterNarendra Modi and his host David Cameron, the first hospital, King’s College Hospital, England will come up in New Chandigarh at an investment of 100 million pounds or Rs 1,000 crore, a statement from Indo-UK Healthcare said.

 

However, it did not say when the first hospital will become functional.

 

“Each of the 11 Indo-UK Institutes of Health will entail a foreign direct investment of around Rs 1,000 crore across 11 states and will include multispecialty NHS-branded hospital for healthcare delivery, clinical support services, NHS e-health, staff accommodation, a medical college, a nursing college, R&D facilities, medical manufacturing facilities and a medical mall,” the statement added.

 

The project, once completed, will employ 5,000 doctors and 25,000 nurses, allied health specialists for the 11,000 beds.

 

The project has the potential of creating upwards of 1,00,000 jobs.

 

The medical and nursing colleges will train 15,000 new MBBS doctors and 20,000 nurses, it added.

 

Funds for the project will be raised through a combination of debt and equity from a consortium of banks, including UK Export Finance and leading private equity players including Elara Capital.

 

Elara Capital shall be acting as sole advisor for raising funds for these projects.

 

A memorandum of understanding has been signed between Indo-UK Healthcare and Shapoorji Pallonji to construct these 11 institutes of health.

 

The first of the Indo-UK Institutes of Health, King’s College Hospital will be set up in New Chandigarh, Punjab.

 

“This is the first of a proposed eleven new Indo-UK Institutes for Health that will be developed across 11 states. When fully implemented, they would amount to 1 billion pounds in investment into the country’s healthcare system, accompanied by strategic clinical and training partnerships with the finest NHS organisations, universities and private sector companies,” the statement said.

 

Source:- Times of India