USTDA to Work with Airports Authority of India

The U.S. Trade and Development Agency signed a memorandum of understanding with the Airports Authority of India to support a 20-year master plan aimed at expanding the operational capacities of the Kolkata and Lucknow international airports, two of the fastest growing airports in India.

State-owned Airports Authority of India selected the Cincinnati-based company Landrum & Brown to conduct the master planning, and modernize these vital transportation hubs.

Jet Plane

“We are pleased to support this important project that will support India’s rapid aviation growth, while connecting U.S. businesses with new export opportunities,” said Thomas R. Hardy, Virginia-based USTDA’s Acting Director.

As the world’s ninth largest aviation market, India’s civil aviation sector is on a high growth trajectory, poised to be the third largest national market by 2020 and, potentially, the largest by 2030, reports Money Control.

September 22, 2017   No Comments

“Co-Working” Catches on in India

Co-working, a concept where individuals or startups share a common workplace environment, is slowly catching on across prime property markets in India. Across the country, co-working space of 0.73 million sq ft was tenanted last year.

“Though still nascent, this category could prove to be a disrupter as bigger co-working players such as WeWork enter India and more such facilities pop up across cities,” said Ramesh Nair, CEO of JLL India.

With 9,600 seats available at co-working facilities across the country, Mumbai records the highest absorption nationally, followed by Delhi-NCR, Kolkata, Bangalore, Chennai, Pune and Hyderabad, reports the Economic Times.

Inside an Office

Sumit Lakhani, CMO at Awfis Space Solutions said, “Companies can make savings of up to 20-30% by working in a co-working space.” The firm’s clientele includes small and medium-sized enterprises, start-ups, freelance professionals, consultants, and corporations.

May 30, 2017   No Comments

Warehousing Sector Surges in India

In anticipation of the national Goods and Services Tax roll-out in July, warehousing facilities will increase by 18 percent to 132.5 million sq ft, and this sector is likely to see investments of about $700 million, according to industry experts

Delhi-NCR had the maximum warehousing stock in 2016 at 29.3 million sq ft, followed by the Mumbai Metropolitan Region, Bangalore, Pune, Chennai  Kolkata, Hyderabad, and Ahmedabad.

A warehouse

Ramesh Nair, CEO, JLL India, told BusinessLine that in 2016, the Grade A and B warehousing stock touched 111.9 million sq ft from 96.8 million sq ft in 2015, and that the GST roll out will “up-grade warehousing infrastructure.”

According to Nair, Pune and Chennai lead the way in Grade A and B warehouse rentals due to their proximity to manufacturing hubs, and local market dynamics.

 

May 30, 2017   No Comments

India’s Benchmark Index Sets Record

The S&P BSE Sensex climbed to record levels on strong corporate earnings and gains in Asian markets:  the index rose 0.6 percent to close above 30,000 for the first time; while the NSE Nifty 50 Index, advanced 0.5 percent.

BSE Sensex chart

Seven out of the nine Nifty-listed companies have either met or exceeded their earnings expectations for the January-March quarter, according to data compiled by Bloomberg. Out of the 13 sector indices compiled by BSE Ltd., fast-moving consumer goods surged the most, rising to its highest level since at least 2005. ITC Ltd., was the top performer on the Sensex, rising to a record high.

“Strong company results show that the market has broken away from the shackles of demonetization,” Jitendra Panda, managing director at Peerless Securities Ltd., in Kolkata said. “This milestone for the Sensex was long-awaited and with companies displaying momentum in the numbers, we expect better days ahead,” he added.

May 18, 2017   No Comments

MIT, Thompson Design to Propose 18 Riverways in India

A joint venture between the Infrastructure Architecture Lab of Massachusetts Institute of Technology, and the Boston-based Thompson Design Group has entered into a contract with the Inland Waterways Authority of India, a government body responsible for the development and regulation of inland waterways for shipping and navigation.

The U.S.-based consultants will identify suitable locations for the construction of 18 ferry terminals in six cities of India: Allahabad, Varanasi, Patna, Munger, Kolkata and Haldia, and prepare detailed project reports and tender documents for these 18 terminals.

a ferry

The development of waterways is part of the government’s plan to enable transportation of cargo through inland waterways so that road and rail networks are not over burdened. There is also the added benefit that this plan will be cost effective and environment friendly.

“The consultants will take into account commercial and passenger characteristics of each city with a goal of integrating transportation networks and facilities to each city,” the office of the Inland Waterways Authority of India, said.

 

 

 

January 4, 2017   No Comments