New Delhi, May 13, 2015: IndianOil and GAIL (India) Ltd., two Maharatna Public Sector Companies of India have signed MoU with Dhamra LNG Terminal Private Limited (DLTPL), a Company owned by Adani Enterprises Limited. DLTPL’s project shall be an onshore LNG regasification terminal having initial capacity of 5.0 MTPA, at Dhamra Port in Bhadrak district of Odisha. Dhamra is an all-weather deep water port.
As per the terms of MoU, IndianOil and GAIL would reserve regasification capacity in the Terminal to supply regasified LNG in the emerging gas markets in the eastern part of the country. IndianOil and GAIL would also have the option to hold equity in DLTPL at a later date.
As per the terms of MoU, IndianOil and GAIL would reserve regasification capacity in the Terminal to supply regasified LNG in the emerging gas markets in the eastern part of the country. IndianOil and GAIL would also have the option to hold equity in DLTPL at a later date.
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Narendra Modi added 5 new photos to the album: At the Big Wild Goose Pagoda, Xi’an (China).
24 mins ·
President Xi Jinping and I visited the Big Wild Goose Pagoda. I went to the ‘Grand Hall,’ the main hall for worship. This was followed by a tour of the Pagoda.
After that we went to the Xuan Zhang Museum. There we saw books written by disciples of Xuan Zhang, that are on display at the Hall of Light. The Hall of Light also has a sculpture of the Head Monk of Nalanda preaching to Xuan Zhang. After that we went to Da Bian Jue Hall, which has a statue of Xuan Zhang.
I had the opporutnity to see the Underground Palace, that houses a skull bone relic of Xuan Zhang.
The final stop was the ‘Wisdom Hall.’ This showcases the life history of Xuan Zhang after his return from India.
Narendra Modi’s photo.
Narendra Modi’s photo.
Narendra Modi’s photo.
Narendra Modi’s photo.
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Naresh Kumar Sagar
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24 mins ·
President Xi Jinping and I visited the Big Wild Goose Pagoda. I went to the ‘Grand Hall,’ the main hall for worship. This was followed by a tour of the Pagoda.
After that we went to the Xuan Zhang Museum. There we saw books written by disciples of Xuan Zhang, that are on display at the Hall of Light. The Hall of Light also has a sculpture of the Head Monk of Nalanda preaching to Xuan Zhang. After that we went to Da Bian Jue Hall, which has a statue of Xuan Zhang.
I had the opporutnity to see the Underground Palace, that houses a skull bone relic of Xuan Zhang.
The final stop was the ‘Wisdom Hall.’ This showcases the life history of Xuan Zhang after his return from India.
Narendra Modi’s photo.
Narendra Modi’s photo.
Narendra Modi’s photo.
Narendra Modi’s photo.
14k Likes198 Comments389 Shares
Naresh Kumar Sagar
Share
Abhinav Bindra Misses Out On 10m Air Rifle Final at the Fort Benning Shooting World Cup
Jitu Rai, Prakash Nanjappa Survive Elimination Round; Will Shoot to Qualify for Finals Today
New Delhi, 14 May 2015: The Indian shooting squad began their campaign in the season’s second big event from a Rifle/Pistol perspective, the International Shooting Sport Federation (ISSF) World Cup, being held at Fort Benning, USA. The first Rifle/Pistol World Cup of the season was hosted by the South Korean city of Changwon last month. In all, nine Indian shooters were in fray on day one of competition. Abhinav Bindra, India’s only individual Olympic Gold medalist, led the charge in the 10m Air Rifle event and finished a competitive 15th in the qualification round for the finals, with a score of 624.6. It is definitely a step up for Bindra from his 46th place finish at Changwon with a score of 619.8.
Abhinav’s team-mates in the 10m Air Rifle, Sanjeev Rajput and Olympic Bronze Medalist Gagan Narang finished 25th and 26th respectively with scores of 623 and 622.9. Milutin Stefanovic of Serbia won the Gold in the event, with a final round score of 209.7
In the Men’s 50m Pistol, all three Indian shooters, namely Jitu Rai, Prakash Nanjappa and Om Prakash survived the elimination rounds and will shoot for a place in the finals tomorrow. Prakash Nanjappa in particular was in superlative form, shooting a 566 to finish third in his elimination relay round.
In the Women’s 25m Pistol event, the Indian trio of Anisa Sayyed, Anu Raj Singh and Rahi Sarnobat also failed to make the finals cut. Anisa finished 20th and the best among the three in qualification, finishing with a score of 577. Anu Raj Singh finished a point and two positions below her while Rahi Sarnobat could only manage 29th spot with a final score of 575.
India is aiming for Rio Olympic quota places, 24 of which are there for the taking at Fort Benning.
Shri Animesh Chauhan
Managing Director & Chief Executive Officer
Managing Director & Chief Executive Officer
Oriental Bank of Commerce
Cordially invite you to a
PRESS MEET
PRESS MEET
on the occasion of the announcement of
Annual Financial Results 2014-15
Annual Financial Results 2014-15
on Thursday, 14th May, 2015
at
Oriental Bank of Commerce,
Corporate Office
Plot No 5 , Sector 32
Institutional Area , Gurgoan – 122001
at 12.45 PM
Press Meet will be followed by Lunch
RSVP
Andy : 9999573707
Andy : 9999573707
present
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| Session on
“India and Singapore: Where do we go from here?”
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| EVENT DETAILS | ||||||||||||||||||||||||||||||||||||||||
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| DATE | Tuesday, May 19, 2015 | |||||||||||||||||||||||||||||||||||||||
| TIME | 3:00 PM – 4:30 PM (Registration at 2:30pm onwards) | |||||||||||||||||||||||||||||||||||||||
| LOCATION | Aftab Hall, The Taj Mahal Hotel, 1 Mansingh Road, New Delhi – 110 011 | |||||||||||||||||||||||||||||||||||||||
| SPEAKERS | Professor Tommy Koh, Co- Chair, Indian Singapore Strategic Dialogue; and Ambassador-At-Large at the Ministry of Foreign Affairs, Republic of SingaporeAmbassador Gopinath Pillai, Ambassador-at-Large, Ministry of Foreign Affairs, Singapore; and Chairman, Management Board, Institute of South Asian Studies, National University of Singapore Mr. Jamshyd Godrej, Co- Chair, Indian Singapore Strategic Dialogue and Chairman of the Board, Godrej and Boyce Manufacturing Company LimitedDr. C Raja Mohan, Distinguished Fellow, Observer Research Foundation | |||||||||||||||||||||||||||||||||||||||
| MODERATOR | Dr. Nitin Desai, Former Under-Secretary General, United Nations | |||||||||||||||||||||||||||||||||||||||
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| ABOUT THE EVENT | ||||||||||||||||||||||||||||||||||||||||
The year 2015 commemorates 50 years of bilateral relations between India and Singapore and the session would reflect on the longstanding relationship and the way ahead. The speakers will focus on how Singapore features prominently in PM Modi’s effort to build an ocean economy which could amplify the geostrategic importance of the Indo-Pacific region. Besides this, the panel will also discuss how the two countries and the region could benefit from India’s “Act East Policy” in the area of urban planning, skill development, sanitation and water management amongst others.
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| Ananta Centre Membership Now Open |
| 1) Website Link: http://www.anantaaspencentre.in 2) Facebook Link: https://www.facebook.com/pages/Aspen-Institute-India/591604467532892 3) Twitter Link: https://twitter.com/AnantaAspen 4) YouTube Link: http://www.youtube.com/user/aspeninstituteindia |
Modi’s East Asia tour : Attracting investments, counterbalancing China
ASHOK B SHARMA
China still remains a difficult neighbour for India to tackle. Apart from border dispute the concerns over growing trade deficit with China and resolving the water issue of trans-boundary rivers, particularly Brahmaputra remains as a formidable challenge. To offset the huge trade imbalance, India has sought more Chinese investments. Prime Minister Narendra Modi will be on a six-day official tour of three East Asian countries – China, Mongolia and South Korea – from May 14 to garner investments for his ambitious Make in India programme. But apart from assurances on investments, what does he expects from China. Possibly Beijing’s nod for India’s membership in Shanghai Cooperation Organisation (SCO) and Asia Pacific Economic Cooperation (APEC) without the former insisting upon its membership in the South Asian Association for Regional Cooperation (SAARC) .
China’s growing influence in the Asia Pacific is a wake up call for India to counter balance the move alongwith other regional actors. PM Modi’s scheduled visit to Mongolia and South Korea can thus be viewed as a move in right direction. His Buddha diplomacy is a right thought to garner support from the Buddhist countries in the region. PM Modi had earlier visited Japan and Australia, maintained good relations with Vietnam and vouched for the centrality of ASEAN. India also supports Trans-Atlantic powers like US, Canada and European nations’ presence in the region. But can all these strategies counter-balance Beijing’s plans to extend its String of Pearls?
INDIA-CHINA BORDER DISPUTE :
Though Prime Minister Narendra Modi claims that the India-China has been peaceful after 1962 war, the intermittent Chinese incursions along the Line of Actual Control (LAC) have raised doubts about Beijing’s hidden agenda. India has inherited the borders defined by the erstwhile British colonial rulers and thus maintains its position in its official map. The Johnson Line demarcated the borders of Jammu and Kashmir with Tibet and on the eastern sector McMahon Line demarcated the border which extended to the edge of the Tibetan plateau. Officially India’s northern boundary in the Ladakh region with Tibet extends beyond the Kuen-Lun (Kunlun) mountains up to Khotan and includs the Aksai Chin desert and links Demchok in the south with the 18,000 feet high Karakorum Pass in the north. This is popularly called the Johnson Line, drawn by WH Johnson of the Survey of India. It includes Shahidulla in far off Karakash valley, about 400 km from Leh.
China, however, refuses to accept the history and has been making further claims on 90,000 sq km in Arunachal Pradesh despite its illegal occupation of 38,000 sq km in Aksai Chin in the north and some areas across the McMahan Line. It is also in possession of 5,800 sq km of Gilgit-Baltistan illegally ceded by Pakistan in addition to its occupation of more than 15,000 sq km of Gilgit-Baltistan covering Shaksgam, Raskam and Aghil valleys, apart from a large chunk in Ladakh. After Chinese occupation of the Indian territory, the Line of Actual Control (LAC) came into existence..
However, both the countries have taken a wise decision that the contentious border issue should not come in their way of bilateral relationship. The border issue would be resolved through negotiations, But despite 17 rounds of negotiations between special representatives of the two countries no tangible results are in sight. It would be better to first resolve the varying perceptions about LAC and then attempt to settle the final boundary issue. There are, however, many areas where both the countries can cooperate instead of being bogged down by boundary issue
INDIA’s GROWING TRADE DEFICIT :
India-China bilateral trade has crossed $65 billion, but India suffers from a trade deficit of $37.8 billion. According to trade analysts, if corrective steps are not taken in time, India’s trade deficit is likely to widen to $58 billion by 2018. Apart from trade, India is also one of the largest markets for project exports from China. Currently, projects under execution are estimated at over $60 billion. As per Beijing’s figures, cumulative Chinese investments into India till September 2014 were $2.63 billion while Indian investments into China were $0.55 billion.
What is the real cause for India’s burgeoning trade deficit with China? India competitive exports like pharmaceuticals, IT and IT-enabled services and agro commodities do not get market access in China due to non-tariff barriers. In China, Indian pharma companies face regulatory hurdles in the form of prolonged and unpredictable timelines for registering Indian drugs. Chinese drug regulator requires Indian companies to not only reveal the detailed process of manufacture but also conduct clinical trials within the country. Indian companies, therefore, are apprehensive of IPR violations. China should better allow import of cheap and time-test Indian drugs and healthcare facility to cater to the growing needs of the Chinese people. Similarly Beijing should give access to Indian IT and ITES.
President Xi Jinping during his last visit to India had promised an Investment of $10 billion over a span of five years. Beijing feels that this assured investment will materialize earlier and fresh agreements amounting to $ 10 investment will be signed on Modi’s visit. China had promised to set up two industrial parks in Chakan near Pune in Maharashtra and near Ahmadabad in Gujarat,
SOUTH KOREAN TOUR :
While Chinese investment in India is at $2.63 billion, South Korean investment has touched $3.8 billion by December 2014. South Korean investments have surged after the singing of India-South Korea Bilateral Investment Promotion and Protection Agreement in 1996. South Korean majors like Hyundai, LG, Hyosung, KC Cottrell, R-Land, Shop CJ, Mirae Asset, Samsung, LG among over 649 others are present in India covering various sectors like automobiles, power and industrial systems, refrigerating and air control equipment, apparel, home shopping, asset management. The South Korean steel major POSCO is awaiting to get mining lease to start their operations in Odisha, The two-day PM Modi’s visit to this country which falls in the last leg of his East Asian tour is likely to see the signing of bilateral Double Taxation Avoidance Treaty as urged by the host country. Modi is also likely to seek greater cooperation of South Korean SMEs.
In fact South Korean companies forayed into India much before the Make in India programme was officially launched by Prime Minister Modi. South Korean companies sources large parts of local contentment, thereby facilitating indigenisation. From its manufacturing base in Chennai, Hyundai Motor India has exported about 2.2 million cars to 123 countries in five continents. Its success story is that with a total investment of $2.7 billion, its yearly turnover is about $5 billion and it has created about 150,000 direct and indirect employment including dealers and vendors. India urged Hyundai to set up another manufacturing base in the country.
There are prospects for South Korean investments in defence products, IT, infrastructure, energy, LNG, ship building, smart cities. A 13-member consortium led by South Korean companies is slated to set up an industrial park at Ghilot in Neemrana in Rajasthan.
Indian companies like Hindalco, Mahindra & Mahindra, Tata Motors, Indian Overseas Bank, State Bank of India and some IT companies are present in South Korea.
After the operationalisation of India-South Korea CEPA in January 2010, bilateral trade crossed $20.5 billion in 2011 registering a 70% growth over a two-year period. Thereafter the bilateral trade registered marginal declines to $18.84 billion in 2012 and to $17.57 billion in 2012. Both the countries had set a target of $40 billion by 2015 for bilateral trade, which is unlikely to be met.
India and South Korea have already agreed to cooperate in civil nuclear energy, defence, science and technology, outer space, IT.
FIRST INDIAN PM TO VISIT MONGOLIA :
Pm Modi will be visiting Mongolia for a day on May 17. India and Mongolia have defence agreement and bilateral Nomadic Elephant military exercise is an annual event. India also participates in Khaan Quest along with Mongolia and US Pacific Command. India and Mongolia may upgrade their relations to a Strategic Level on Modi’s visit which would be the first such visit by an Indian Prime Minister. India is likely to fulfilll Mongolian request for setting up on an English school. PM will also have the privilege of addressing the Mongolian Parliament.
Atal Behari Vajpayee Centre for Excellence in Information and Communication Technology Education may be upgraded. PM Modi is likely urge Mongolia to expedite the process of finalising uranium sales to India.
PM Modi is slated to appeal to the Indian community in all the three countries he has planned to visit. He is also slated to meet the captains of the industry. Buddha diplomacy will be very much on the cards in appeal to these Buddhist predominated countries. One can hope that Modi’s visit may help in garnering investments for Make in India programme, minimize trade deficit with China and counter balance growing Chinese influence in the region.
(Ashok B Sharma is a senior Columnist writing on strategic and policy issues in several Indian and international newspapers and magazines. He frequently writes in The Daily Observer, Bangladesh and the Diplomatist magazine. He can be reached at ashokbsharma@gmail.com His mobile phone no +91-9810902204)
Ashok Leyland FY’15 net profit at Rs.335Cr against Rs.29Cr in FY’14.
Chennai: May 12th, 2015: Ashok Leyland, flagship of the Hinduja Group, reported sales revenues of Rs.13562 Croresas against Rs.9943 Crores in the previous fiscal. EBITDA stood at Rs.1027 Crores during FY’14-15, against Rs.117 Crores in the previous fiscal. Profit Before Tax (PBT) and exceptional items stood at Rs.341.26 Crores during FY’14-15, against a loss of Rs.596.88 Crores in the previous fiscal.Net profit was at Rs.334.80 Crores, against a net profit of Rs.29.38 Crores in the previous fiscal.
During the year, the Company generated surplus cash of aroundRs.2000 Crores, aided by positive accruals, qualified institutional placement(QIP), sale of non-core assets, and reduction in working capital, all of which resulted reduction in debt.
Speaking on the occasion, Mr. Vinod K. Dasari, Managing Director, said, “It’s been a very gratifying year. All our efforts towards the transformation of the Company in terms of pruning costs, rationalizing overheads, reducing working capital, and at the same time investing smartly in new products and networkare paying off. The industry has turned the corner and so have we. I am confident that coming years will see us build on this momentum.
Our market share in the M&HCV segment has improved, with domestic sales of 66,442 vehicles. This was possible primarily due to an enhanced product range with market leaders like 3718, Boss, Captainand JanBus, as well as continued network expansion across the country, despite the downturn.Further, a renewed focus on customer and network profitability,new service products like AMC, insurance and extended warranty, and our vast service network, provided confidence to our customers about our capability of offering nationwide service. This combined with a completely revamped IT enabled sales process, helped us reach more customers, and understand their requirements better and faster.
While TIV in LCV dropped, we retained domestic market share in the 2.5T LCV segment on the back of the Dost Strong- an out-performer. We have won many tenders in defence vehicles – both domestic and international markets, while exports of M&HCV vehicles increased 32%. Significant successes in export markets, a well-diversified product portfolio and a range of business verticals helps us manage the cyclicality of the CV business. I must specifically mention the stellar support we received from our suppliers and dealers, without who this transformation wouldn’t have been possible.”
The Board of Directors have recommended a dividend of 45%.
For media queries, please contact:
Regards,
Palak Malik
Clea Public Relations.
Mob: 7838724709Direct: 0-11-46521382Email-Id: palak@cleapublicrelations.com, palak.clea@gmail.com
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