Category Archives: Business & Economy

US firm to invest Rs. 300 crore in ladder unit in Medchal

Business & Economy, World Opinion

It is likely to create 1,000 jobs in the first year itself
: In what could be the first investment flow into the five-day-old Telangana State, the US-based Wing Enterprises has decided to invest about Rs. 300 crore near Medchal here to set up a ladder-manufacturing company.

The investment in manufacturing (furniture) sector is likely to create direct employment potential of about 1,000 jobs in the first year itself. Representatives of the US-based firm engaged in the production of “Little Giant Ladder” Systems called on Minister for IT, Industries and Panchayat Raj K.T. Rama Rao at his office here on Friday and explained to him their plans.

K.T. Rama Rao
K.T. Rama Rao

The company manufactures different types of ladders and equipment like air-deck work stations, cargo-hold products and fuel tank paint trays.

“The establishment of the manufacturing facility by the US firm is a pointer to the flow of investments into Hyderabad in other sectors and not just IT”, the minister told The Hindu.

Plans for IT sector

On the State government’s vision for the IT sector, Mr. Rama Rao said they would soon come out with a comprehensive policy for its development with focus on research and development, particularly on establishing world-class incubation centres to nurse the talent and entrepreneurship.

“The focus so far has been on the IT/ITES. But, we have plans to take it to the next level to fuel growth of the sector by creating an appropriate eco-system”, the minister said. He would meet representatives of the industry before preparing the policy.

Earlier in the day, the minister shared the government’s plans for the IT sector growth, particularly in the area of entrepreneurship and innovation, with the faculty of Indian School of Business (ISB) and International Institute of Information Technology (IIIT).

ISB Dean Ajit Rangnekar said they were keen to explore ways for collaboration between the government and ISB to strengthen the ecosystem. He explained how the ISB had been working closely with successive governments and the industry. Director of IIIT Hyderabad P.J. Narayanan was also present.

source: http://www.thehindu.com / The Hindu / Home> National> Andhra Pradesh / by Special Correspondent / Hyderabad – June 07th, 2014

Single-window Clearance for Industry

Business & Economy, Science & Technology, World Opinion

Chief minister K Chandrasekhar Rao inaugurating Tata Advanced Systems’ new facility to make Dornier-228 aircraft wings and fuselage at the Adibhatla SEZ in Hyderabad on Monday. TASL chairman S Ramadorai and Ruag Aviation’s Martin Buhlmannis are also seen. | EXPRESS PHOTO
Chief minister K Chandrasekhar Rao inaugurating Tata Advanced Systems’ new facility to make Dornier-228 aircraft wings and fuselage at the Adibhatla SEZ in Hyderabad on Monday. TASL chairman S Ramadorai and Ruag Aviation’s Martin Buhlmannis are also seen. | EXPRESS PHOTO

Hyderabad :
In an attempt to make Hyderabad a favourite destination for global investors, Telangana chief minister K Chandrasekhar Rao has announced that an effective single-window system will be set up by his government to ease the clearance process for setting up industries.

“This system will be monitored in my office (chief minister’s office) through a special chasing cell planned as special purpose vehicle under ITIR authority. All clearances will adhere to strict timeline. Entrepreneurs need not run around multiple offices,” he assured after laying the foundation stone for Tata Advanced Systems Limited (TASL) new aerospace facility here on Monday.

The fourth aerospace facility of TASL in the city, in partnership with Switzerland’s Ruag Aviation, will manufacture fuselages and wings for Dornier 228 new-generation aircraft.

The three other facilities operational in Adibhatla Special Economic Zone (SEZ), on the outskirts of the city, are credited with producing copter cabins for 70 Sikorsky S92 cabins for US aircraft maker Sikorsky. Besides, producing empennage and centre-wing box for C-130 J aircraft in partnership with US aerospace and defence manufacturer Lockheed Martin.

“In addition to many aerospace and defence related institutes and first-of-its kind Aerospace SEZ in Adibhatla, the city is poised to become a global hub for such specialized clusters planned as part of ITIR,” he added.

Further, he said, a comprehensive industrial policy was being worked out. “In another month and a half, one will get to know our style of functioning,” Rao said.

TASL chairman S Ramadorai said the partnership was a glowing example of co-operation between India and Europe.

Ruag vice-president Martin Buhlmann said Ruag was re-launching the lighter utility aircraft, Dornier 228, with new engines and fully-digital cockpit.

source: http://www.newindianexpress.com / The New Indian Express / Home> States> Telangana / by Express News Service / June 24th, 2014

2.15 acres of defence land for Metro station

About Telangana, Business & Economy, Records, All

Land near Ganesh temple in Secunderabad will be handed over to HMR

Chief Secretary Rajiv Sharma and Hyderabad Metro Rail (HMR) authorities have informed the Chief Minister K. Chandrasekhar Rao that different technical options were being explored to consider taking the Metro Rail alignment underground in front of Legislative Assembly and slightly diverting the alignment of corridor-II (JBS-Falaknuma) away from Sultan Bazaar.

Services of eminent technical experts should be taken to explore the varied options, the Chief Minister instructed after a detailed discussion with Chief Secretary Rajiv Sharma, MA&UD Principal Secretary S.K Joshi and HMR MD N.V.S. Reddy.

Mr. Rao once again instructed the metro rail authorities to ensure that no heritage structure is disturbed by the elevated viaduct alignment. Telangana Martyrs’ Memorial at Gun Park should be protected as also the view of the Legislative Assembly and the M.J. Market, apart from preserving the heritage value of Sultan Bazaar, senior officials said on Thursday.

Meanwhile, following the CM’s intervention, the project got the defence ministry approval for transfer of 2.15 acres of its land for construction of the Parade Grounds interchange Metro station and Right of Way for the Metro Rail for a length of 2.23 km in defence areas. The issue was lingering on for the last four years and successive chief secretaries were pursuing it with defence secretary and cabinet secretary in the past.

Mr. Rao thanked Defence Minister Arun Jaitley for allowing transfer of land and also thanked Urban Development Minister M.Venkaiah Naidu for facilitating fast clearance of recommendatory letters for concessional import tariffs for metro rail equipment.

With the defence ministry’s clearance, construction of Parade Grounds Metro station connecting the corridor-II and corridor-III (Nagole-Shilparamam) can be taken up now along with viaduct construction from the DCP North office in Marredpally to Secunderabad PG College (Paradise).

About 2.15 acres of defence land in front of Ganesh temple in Secunderabad will be handed over to HMR and in return, HMR will transfer 1.68 acres of old Gandhi hospital land for constructing a ‘Sainik Aramghar’ admeasuring 60,000 sft on it at HMR’s cost. The ministry has also permitted usage of 3.65 acres of defence land by HMR for construction of Metro Rail pillars and viaduct on a long term annual license fee basis, officials added.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Hyderabad / by Special Correspondent / Hyderabad – June 20, 2014

Microsoft Ventures may invest in Hyderabad startup NowFloats for India foray

Business & Economy, Science & Technology

New Delhi :

Microsoft Ventures is in talks with a Hyderabad-based startup NowFloats, which if successful will mark the first investment in India by the early stage investment arm of the global software maker.

The deal could see an investment of up to $ 2,50,000 in the two-year old company according to three people with knowledge of the developments.

NowFloats focuses on helping small and medium enterprises (SMEs) to create and maintain a digital presence through a basic text message without the need for a smartphone. The company, incubated at Microsoft’s Bangalore-based accelerator, has also launched a mobile app, which allows users to discover businesses and deals, based on their location.

The transaction is expected to be completed by end-August, according to sources privy to the talks.

In an email response to a query by ET, a spokeswoman for Microsoft Ventures said the seed fund has not invested in a startup in India.

Microsoft Ventures, which owns and operates six accelerators across the globe, including Beijing, London, Paris, Tel Aviv and Berlin, has so far, invested in 10 startups around the globe through its seed fund.

In an earlier conversation with ET, Mukund Mohan, director, Microsoft Ventures, had said that the accelerator would look to make between three and five investments in early-stage ventures by the end of its financial year ending June 30, 2014.

“Typically, we’ll invest in a company that has some revenue,” Mohan had said.

NowFloats received a first round of funding last August from angel investor network Mumbai Angels and seed-to-early stage venture capital firm Blume Ventures.

source: http://www.articles.economictimes.com / The Economic Times / Home> Industry> Banking & Finance> Finance / by Biswarup Gooptu, ET Bureau / June 18th, 2014

Telangana Govt plans to make Hyderabad as e-hardware hub

Business & Economy, Science & Technology, World Opinion

Hyderabad :

The Telangana Government is planning to make Hyderabad as the hub of Electronic System Design Manufacturing (ESDM).

Telangana IT Minister K Taraka Rama Rao has said the Government would initiate measures to attract investments into the two ESDM clusters at e-City Manufacturing Cluster and Maheshwaram Science Park.

While the former is envisaged in an extent of 602 acres, the Science Park would come up on 310 acres, Harpreet Singh, Secretary (IT and Communication Department), said here in a statement.

source: http://www.thehindubusinessline.com / Business Line / Home> News / by K.V.Kurmanath / Hyderabad – June 12th, 2014

Little Giant Ladders to be produced in Hyderabad

Business & Economy, Science & Technology, World Opinion

Company would invest Rs 300 cr and generate about 1,000 jobs

US-based Wing Enterprises , producer of Little Giant Ladder System, is setting up a manufacturing facility near Medchal, on the outskirts of Hyderabad.

The company would invest Rs 300 crore and generate about 1,000 jobs,  Telangana  information technology  and panchayat raj minister, KT Rama Rao, told Business Standard.

Founded by Harold R Wing, the US company makes various kinds of ladders such as adjustable stepladders, combination and extension ladders, mil-spec and multi-use ladders and special duty ladders. It also offers accessories like airdeck work stations, cargo hold products and fuel tank paint trays.

Representatives of the company called on Rao on Friday. “They merely want to keep me in the loop, they are not expecting much from us,” he said.

The minister said the establishment of the ladder manufacturing facility here indicated that investments were flowing into Hyderabad not just in the IT sector but also in other segments.

source:  http://www.business-standard.com / Business Standard / Home> Companies> Nes / by  BS Reporter / Hyderabad – June 06th, 2014

Government portals up and running

About Telangana, Business & Economy, Records, All

The two new States have their respective flagship websites and those for govt. utilities, albeit with limited capabilities

The government web portals of newly-formed Telangana and Andhra Pradesh are up and running, albeit with diminished capabilities and features for visitors. The homepage of the much-visited portalwww.aponline.gov.in now has two links that takes users to the respective portals of Telangana and Andhra Pradesh.

The website for Telangana’s government orders (http://goir.telangana.gov.in) is active and has begun uploading the first few government orders that were released by General Administration Department (GAD) immediately after Chief Minister K. Chandrasekhar Rao took office.

The homepage of the eseva portal (www.esevaonline.com) now has two separate links with maps of Telangana and Andhra Pradesh. Similarly, the homepage of the APCPDCL website (www.apcentralpower.com) provides a link to Southern Power Distribution Company of TG (www.tgsouthernpower.com).

The website for Telangana on APOnline (http://aponline.gov.in/tgportal/index.aspx) retains the same features that existed in the earlier website, including sections like citizen login, RTI Act, Government Orders, etc. However, these features are yet to be activated and upgraded with fresh information.

In addition to APonline, an entirely new website of Telangana (www.telangana.gov.in) has also been launched, although with limited capabilities. Several sections in this portal including government departments and services are yet to be fully completed, upgraded and activated. Some of the sections in the website like ‘key contacts’ takes the user to the already existing links on APOnline that has old information.

It is yet unclear whether the new portal www.telangana.gov.in and the Telangana portal on APOnline will function simultaneously because a lot of services, sections and links in both these websites are same.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Hyderabad / by M. Sai Gopal / Hyderabad – June 02nd, 2014