Newsletter dt 13 Jan 2013 by imexforex





                    13th – JAN-2013

Chief Minister Narendra Modi inaugurated the sixth edition of biennial Vibrant Gujarat Global
Investors’ Summit (VGGIS) at Mahatma Mandir in the state capital, Gandhinagar. Ambani brothers,
Mukesh and Anil Ambani, heading Reliance Industries and ADA Groups respectively, Tata Sons
chairman emeritus Ratan Tata, ICICI MD and CEO Chanda Kochar, Mahindra & Mahindra chairman
and MD Anand Mahindra were present for the inaugural session of the event. Reliance Industries
Limited Chairman Mukesh Ambani praising Modi said, "It is better to speak in action than (to speak)
in words". He also said that his company has plans to invest Rs 100,000 crore in Gujarat in next
three years. Lavishly praising Modi and also comparing him to Gandhi and Patel, younger brother
Anil Ambani said (Modi was) "a king among kings." Anand Mahindra, speaking on the inaugural
session said, “we have always talked about China’s growth model in comparison to Gujarat, but I
tell you a day will come (not in the distant future) that we will talk about the Gujarat growth model
in China”. VGS will also see many industry stalwarts like Tata Sons chairman Cyrus Mistry, Sunil
Bharti Mittal and Kumar Mangalam Birla. Around 50,000 delegates from India and 1,800 others
from 105 countries are expected to participate in the two-day summit, followed by meetings
between businesses and government on Sunday.

         Vibrant Gujarat Summit kicks off-
        Click on ;


With large number of participants registering from more than 105 countries, the Vibrant Gujarat
will set a new benchmark with a landmark achievement of having diplomats, industrialists,
academia and thinkers from so many countries converge around subjects of sustainability,
innovation, youth & skill development, knowledge sharing and networking. More than 1800 foreign
delegates are expected to attend the Summit this year, higher than last year's participation of 1400
delegates from 101 countries. From India, 22 states are participating in various capacities and
around 50,000 delegates from India will be attending the summit. Large delegations consisting of
senior business leaders and diplomats from Canada, Japan, USA, United Kingdom and the UAE are
marking their presence at Vibrant Gujarat.

Country's largest private shipbuilder ABG Shipyard today said it plans to invest Rs 7,000 crore in
Gujarat for setting up a new facility as well as augmenting capacity at two existing units in the
state. This will be ABG Shipayard's third facility at Gujarat and is likely to generate employment for
about 4,500 people, it said. Apart from the proposed investment, ABG Shipyard has also planned to
expand its facilities at Dahej and Magdalla in three phases, with an estimated investment of Rs
2,000 crore, the shipbuilder said. "The company has submitted its proposal to the state government
during the on-going Vibrant Gujarat Global Investors Summit 2013," the company said. The
company's existing Magdalla shipyard at Surat is a world-class manufacturing facility with
amenities like a Ship-lift with a lift capacity of 4,500 tonnes, side transfer facilities, Hydraulic press
and Steel processing machinery. The second state-of-the-art facility at Dahej is one of the largest
and most modern Shipyards in India with a capacity to build ships upto approx 300 metres in length
and 120,000 DWT (Deadweight Tonnage). DWT is a measure of how much weight a ship is carrying
or can safely carry.On April 18, 2011, ABG launched a 32,000 DWT bulk carrier from the Dahej
facility. ABG Shipyard is the flagship company of the ABG Group and has so far built and delivered
more than 160 ships, of different complexities, for domestic and international customers, and
enjoys 61st rank among shipyards globally.


With India and Canada working towards increasing annual bilateral
trade to $15 billion by 2015, Canada will be a partner country at the
6th Global Investor's Summit, Vibrant Gujarat from January 11-13, in
Gandhinagar, Gujarat. As a partner country, Canada will highlight its
growing importance as a commercial partner of choice for India, and
promote Canada as an increasingly attractive destination for Indian investors. Canada's business
delegation to Vibrant Gujarat includes senior representatives from top Canadian companies from
the energy, oil and gas, education, infrastructure, clean technology, information and
communications technologies (ICT), and financial services sectors. As well, the provinces of British
Columbia, New Brunswick, Ontario, Quebec and Saskatchewan, along with representative of Export
Development Canada, Canada's export credit agency, will also participate Canadian
parliamentarians and Mayors of the City of Brampton and Markham are also attending the Summit.
According to the officials at High Commission of Canada, here, "Vibrant Gujarat will provide a
platform for Canadian businesses to engage with their Indian counterparts in an effort to build new,
and strengthen existing, partnerships." Canada's Citizenship, Immigration and Multiculturalism
Minister Jason Kenney will address delegates at Vibrant Gujarat. "Canada's growing trade with
India is fuelled by our strong people-to-people ties", said Minister Jason Kenney. Participation at
Vibrant Gujarat follows the recent trip to India by Canada's Prime Minister Stephen Harper during
which both Prime Minister Harper and Prime Minister Manmohan Singh reiterated their
commitment to increase trade between Canada and India. Onthe eve of Vibrant Gujarat, Canada 's
High Commissioner to India, Stewart Beck noted, "Leaders of both sides have expressed their
commitment to increase annual bilateral trade to $15 billion by 2015. Canada's participation at
Vibrant Gujarat 2013 highlights Canada's advantages as a partner for India and the possibilities for
strengthening business relationships between our two countries." Both countries are taking
concrete steps to increase trade and investment between the two countries. Canada will have an
official Pavilion at the Gujarat Global Trade Show which is open to business delegates and will hold
a country seminar highlighting Canada as a preferred business destination and participate in a
business and investment seminar organised in collaboration with the Pandit Deendayal Petroleum
University. Canadian delegates will also participate in the International Conference for Academic
Institutions, the Innovation Convention and the Technology Convention and Canada will have a
dedicated pavilion to Education in addition to the country pavilion at the Global Trade Show.

Day one of the sixth Vibrant Gujarat Global Investors’ Summit saw the state government signing
memoranda of understanding (MoUs) with private companies pledging investments to the tune of
Rs 24,113 crore in the industrial infrastructure sector. The MoUs were inked at an international
seminar on ‘Developing integrated, smart & sustainable cities with a special focus on DMIC & SIRs’.
According to figures provided by the government, MoUs pledging investments of Rs 27,746 crore,
with a proposed employment generation of 21,501, were signed for the Special Investment Region .
Logistics parks and other infrastructure projects saw a proposed investment of Rs 5,910 crore,
promising employment to 13,845 people. “The investments were pledged through two
infrastructure development arms of the Gujarat government whereby GIDB (Gujarat Infrastructure
Development Board) signed eight MoUs while the GIDC (Gujarat Industrial Development
Corporation) inked four MoUs with private firms,” said a GIDB official. GIDB also signed two
strategic partnership MoUs with CISCO and the School of Petroleum Management. The seminar also
witnessed signing of 78 MoUs for industrial parks promising investment of Rs 17,098 crore.


A public art-installation of a Gandhian “charkha”, (spinning wheel), depicting progress and
sustainability, will now be one of Ahmedabad’s identities. Unveiled at the city’s famous Kankaria
Lake by Tata Housing Development Company Ltd in association with Arvind Real Estate, on
Wednesday, the 12-feet-high spinning wheel has been exclusively sculpted from scrap materials
from various industries in and around Ahmedabad. It took about a month to weld together by well-
known local artists Kishor Pawar and Haresh Patel, students of sculpture at a college here. The
guiding thought behind the art installation is to showcase that Gujarat has evolved as a progressing
industrial state and that industrial waste should be minimized for a greener and a sustainable
tomorrow, A Harikesh, Senior Vice-President (Marketing and Sales), Tata Housing, said after
unveiling the installation. Mahatma Gandhi’s charkha is an apt metaphor for the sustainability and
self-initiated growth of Gujarat, while skyline signifies development. The humble charkha has been
given a contemporary design interpretation, while giving out the same message of self-reliance and
entrepreneurship that the state of Gujarat is renowned for. In their integrated, green and
sustainable housing project in Vadsar, Tata Housing and Arvind Real Estate have created the master
plan and design of the township by taking inspiration from the rich architectural heritage of Gujarat
and the sensibilities of the Gujarati lifestyle. The small wheel in the art installation indicates the
traditional housing clusters, pols, and the walled city from which the city has gradually grown into
its present form. The skylines of skyscrapers depict the evolution of real estate in the city, tracing
the transition from small housing apartments to modern townships with quality infrastructure. The
larger wheel depicts the growing industrialization, which is directly related to the growth of real
estate. It also stands for the automobile industry hub that is clustered around the city outskirts of
Sanand with more automobiles companies venturing into setting up their units there.

The increase in train fares has pinched frequent users of trains from the city. While the second class
fare to Delhi has risen by about Rs56, the rate for Mumbai has gone up by Rs28. For Karnavati
Express - the train with the cheapest fare for Mumbai from Ahmedabad - there is an increase of
Rs19. The move has met with mixed reactions. While some feel that it was required as there was no
hike for a decade, others feel that instead of passenger fares, freight rates should have gone up.
The increase would affect more those travelling in air-conditioned coaches than in the sleeper class.
However, the increase would not ebb the flow of passengers.

Over 50 trains connect Ahmedabad and Mumbai – among the highest between any two cities in the
network of Western Railways. These trains include both weekly and daily trains. There are around
90,000 passengers that throng Kalupur station on a daily basis.

                                  MARKET AT A GLANCE

                                 BSE: 19663.64       NSE : 5951.30

                              BULLION:GOLD: 30750        SILVER: 57996

                           FOREX $/Re: 54.755      £: 88.254 € : 73.065

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                                RITI INVESTMENT & CONSULTANCY

                                HAPPY UTTARAYAN -14TH Jan

                                VIVEKANANDA ROCK MEMORIAL

India on Thursday celebrated the 150th birth anniversary of Hindu spiritual leader Swami
Vivekananda as several cultural activities and special prayers were arranged across the country on
the occasion. Born in 1863, Swami Vivekananda played an important role in introducing Indian
philosophies of Vedanta and Yoga to the western world. He also played a key role in making
Hinduism gain the status of a major world religion during the end of the 19th century. A disciple of
spiritual leader Ramakrishna Paramahansa, Swamiji enchanted the European world by his inspiring
speech at the Parliament of the World's Religions at Chicago in 1893. Swamiji, as he was called by
his disciples, founded social welfare body Ramakrishna Mission. Marking the 150th birth
anniversary of the monk, India celebrated the day with various cultural events.In Kolkata, a
procession was held on Thursday morning where spiritual leaders from Ramkrishna Mission
Golpark, political leaders and people from various sections of the society participated. The
procession started at South Kolkata's Golpark area and culminated near Victoria Memorial Hall in
central part of the city. A statue of Swamiji was unveiled at a park in Behala area of south Kolkata.
In Mangalore, hundreds of youths assembled to participate in various cultural activities as a part of
Youth Festival. The festival is arranged to commemorate the birth anniversary of Swami

Gujarat is celebrating the year 2012 as the ‘Year of Youth Power’ to commemorate Swami
Vivekananda’s 150th birth year. Special pujas and prayers were done at all Ramkrishna Mission
centres located across the world to mark Swamiji's birthday. Gujarat Chief Minister Narendra Modi
shared his thoughts on Swamiji in his blog. "Swamiji’s blessings have played a big part in taking
Gujarat to where it is today and I see no reason why our country cannot perform wonders with his
blessings," Modi blogged.

Pertinently, the Indian government on Jan 12, 1984 decided to observe Swamiji's birthday as
National Youth Day every year.
                                       Peace at stake ?

                                      Bank Finance for Purchase of

The Reserve Bank has advised banks not to grant any advances for purchase of gold in any form,
including primary gold, gold bullion, gold jewellery, gold coins, units of gold exchange traded funds
and units of gold mutual funds. Banks may, however, provide finance for genuine working capital
requirements of jewellers. The scheme of gold (metal) loan detailed in the Reserve Bank's circular
of December 31, 1998 as amended from time to time, will continue to be in force.

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