Daily Sector News Today – 17.11.2017
* AUTOMOBILE: Energy Efficiency Services will float another tender of around 10,000 electric vehicles during Mar-Apr, much before it expects to complete the current bidding process in June.
* AVIATION: Airlines' performance and progress in starting flights on the routes won in the first round of bidding under the regional connectivity scheme will be taken into consideration before awarding them more routes, a senior government official said. The government may not infuse about 210 bln rupees in the promised equity into Air India once the stateowned airline is privatised.
* BANKING: Reserve Bank of India Governor Urjit Patel has been appointed to the Financial Stability Institute Advisory Board or the Bank of International Settlement, a global financial organisation owned by major central banks.
* ECONOMY: The government has asked state-owned banks to draw up a road map on their future plans within a month, before it infuses capital under the recapitalisation plan announced last month.
* INFORMATION TECHNOLOGY: The government will set up a 50-mln-rupee fund for start-ups that work on ideas for cyber security and will give priority to procurement of low-cost software for this, Information Technology Minister Ravi Shankar Prasad said. Information technology research firm Gartner and NASSCOM feel that automation will ultimately lead to a net addition in the number of jobs worldwide, rather than a net reduction, as is commonly believed. The Indian government's expenditure on information technology is poised to grow 8.9% to $8.5 bln in 2018 on the back of increased spending on software and devices procured.
* INFRASTRUCTURE: The government has approved setting up a coastal economic zone at the Jawaharlal Nehru Port in Maharashtra as part of a plan to develop 14 such industrial clusters.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India is considering guidelines, which may allow subscribers to undertake financial transactions and access other important services faster than the rest on their mobile phones. Vodafone is open to exploring opportunities for sale of stake in Indian mobile tower firm Indus Towers.
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* AVIATION: Airlines' performance and progress in starting flights on the routes won in the first round of bidding under the regional connectivity scheme will be taken into consideration before awarding them more routes, a senior government official said. The government may not infuse about 210 bln rupees in the promised equity into Air India once the stateowned airline is privatised.
* BANKING: Reserve Bank of India Governor Urjit Patel has been appointed to the Financial Stability Institute Advisory Board or the Bank of International Settlement, a global financial organisation owned by major central banks.
* ECONOMY: The government has asked state-owned banks to draw up a road map on their future plans within a month, before it infuses capital under the recapitalisation plan announced last month.
* INFORMATION TECHNOLOGY: The government will set up a 50-mln-rupee fund for start-ups that work on ideas for cyber security and will give priority to procurement of low-cost software for this, Information Technology Minister Ravi Shankar Prasad said. Information technology research firm Gartner and NASSCOM feel that automation will ultimately lead to a net addition in the number of jobs worldwide, rather than a net reduction, as is commonly believed. The Indian government's expenditure on information technology is poised to grow 8.9% to $8.5 bln in 2018 on the back of increased spending on software and devices procured.
* INFRASTRUCTURE: The government has approved setting up a coastal economic zone at the Jawaharlal Nehru Port in Maharashtra as part of a plan to develop 14 such industrial clusters.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India is considering guidelines, which may allow subscribers to undertake financial transactions and access other important services faster than the rest on their mobile phones. Vodafone is open to exploring opportunities for sale of stake in Indian mobile tower firm Indus Towers.
