Walmart to Set Up 50 New Outlets in India

Walmart will open 50 new wholesale  stores across India over the next three to four years which will be located in the states of Telangana, Andhra Pradesh, Maharashtra, Punjab, Uttar Pradesh and Haryana. President and CEO, Walmart Canada and Asia, Dirk Van den Berghe, said Walmart was committed to India, and the country with its efficient economy was an important market for them.

Each store will be spread over 50,000 to 60,000 square feet. The company will invest $10 to $12 million in each store which will serve 300,000 wholesale customers; hotels, restaurants, caterers, offices and institutions; and 30,000 mom-and-pop grocery shops.

Walmart Store

IndiaRetailing reports that Walmart currently sources 97 percent of the products within India. 15 percent of its merchandise is sourced from the region where its store is located. The company proposes to work with small and marginal farmers and offer training and education to all stakeholders in the value chain.

 

May 7, 2017   No Comments

India to Export Fertilizers by 2021

India has drawn up an $8.7 billion plan to revive inoperative fertilizer plants and set up gas import and pipeline facilities in eastern India in a bid to become an exporter of urea(a chemical nitrogenous fertilizer) by 2021. The project includes building a 1,590-mile pipeline, the revival of four urea plants in the northern Uttar Pradesh state, eastern Jharkhand, Bihar and Odisha states, and building a liquefied gas import facility.

Spraying Fertilizer

Reuters reports that India produced 24.2 million tons of urea in 2016-17, while importing about 5.4 million tons of its fertilizer needs; the revived plants are projected to increase the annual urea production capacity by 7.5 million tons, said Ananth Kumar, India’s Minister in charge of fertilizers. He added, “From an importing country, we will become an exporting country. For food security, we need fertilizer security.”

 

May 5, 2017   No Comments

India’s Ardom Telecom Acquires Texas-based Quanta Towergen

Gurgaon, India-based Ardom Telecom, a telecom infrastructure operation and maintenance company, has acquired U.S.’s Quanta Towergen Private Limited in an all cash deal. Quanta Towergen is owned by Houston Texas-based Quanta Services which struck this deal via their Netherlands-based special purpose vehicle.

Ardom Telecom Towers

In the last few years, Quanta has invested  $14.5 million to create solar energy generation facilities on various telecom tower sites and its remote monitoring mechanism, reports the Economic Times. This acquisition will help Ardom to provide solar power on telecom tower sites spread over the states of Uttar Pradesh , Bihar, Jharkhand, Madhya Pradesh, Assam and North-East India.

 

 

April 6, 2017   No Comments

Templeton Buys $1.2 Billion India Government Bonds

New York City‘s Franklin Templeton Investments bought about $1.2 billion of Indian government bonds in two days end March. The purchases, made through broker JPMorgan Chase & Co, were largely for tenures maturing in 2021-2023.

Since March 11, when Prime Minister Narendra Modi’s party won an election in the state of Uttar Pradesh in the north, foreign funds have been pouring into India, driving stocks to a record high and pushing up bond prices, reports Mint.

Stock chart

“The outcome of state elections, a dovish hike by the Federal Reserve and relatively attractive valuations have been the key drivers of inflows,” said Nagaraj Kulkarni, a senior rates strategist at Standard Chartered Plc in Singapore.

 

March 30, 2017   No Comments

Scientists in India Create Sensor to Detect Bacteria Quickly

Working in collaboration with the Photonics Research Center at the University of Quebec in Outaouais, scientists from the Indian Institute of Technology Kanpur, in the northern state of Uttar Pradesh, have built a sensor that can detect the presence of Escherichia coli in food and water in under 20 minutes, much faster than traditional laboratory tests.

Bacteria

Bacteriophages used in the device bond to the surface of an optical fiber, grab E.coli bacteria from a sample, and keep them attached. When a beam of light strikes the surface, the presence of E.coli shifts the wavelength in a telltale sign of bacterial contamination. An additional optical component cancels out temperature-induced shifts, reports the Economic Times. By changing the bacteriophage in the sensor, other strains of bacteria can also be detected, the scientists report.

The team members that worked on this project are Krishnendu Dandapat, Saurabh Mani Tripathi, Yasser Chinifooroshan, Wojtek J. Bock, and Predrag Mikulic.

October 22, 2016   No Comments