Monday, November 26, 2007

Smart game behind Smart City

Smart city is an initiative taken by Dubai Internet City to invest in India. The project was actually lightened by the Congress government under Oommen Chandy (ex-chief minister) and finally approved by the Left government under Achuthanandan, the current chief minister here. However it was the single-handed initiative by Chief Minister Oommen Chandy which has managed to get Kerala a major investment opportunity in the green sector - the Rs 1,700-crore Smart City proposed by the Dubai Internet City which will come up in Kochi. Several states like Andhra Pradesh, Karnataka and Tamil Nadu were after the the Dubai Internet City for the project, and finally Kerala bagged the project.
Kerala government announced that they received the letter saying they have decided to set up the Smart City at Kochi. Several states like Andhra Pradesh, Karnataka and Tamil Nadu were after the the Dubai Internet City for the project, and finally Kerala bagged the project. The project was actually claimed by both the ruling Left Democratic Front and the opposition United Democratic Front as their achievement. The congress party also backed out from signing the deal just before the election. The possibility of signing the agreement was again put to question when the left got the rule. The project, which demanded as many as 300 acres of land in Kochi at a cheaper rate, evoked criticism from a section of political leaders, particularly the CPM-led Opposition, right from the beginning.

According to them, the move would finally end up in the state losing huge area of land without substantial return in terms of employment generation.

Adding more trouble to the smooth processing of the project proposal, the state bureaucracy failed to prepare a draft MoU within the stipulated time frame set by the DIC. Many speculations were there among the public regarding the issue. After a series of discussions and controversies, finally it was put into an agreement on May 13. State IT director Ajay Kumar and TECOM executive director Farid Abdul Rahman signed the lease deed for 234.5 acres of land earmarked for SmartCity for 99 years.
The Rs1,700-crore project aims to generate as many as 90,000 jobs and build 88 lakh square feet of office space in three phases spanning ten years. To start with, Kerala government is providing them 200 acres of land in Kakkanadu, near the Kochi Infopark. The Smart City, expected to create more than 100,000 new jobs in the first stage and around 5 Lakhs jobs directly and indirectly in the last stage, would provide critical infrastructure for IT services and IT-enabled service companies.

Though the present agreement empowers the government to take over the project if the company backs down on its promises, opposition leader Oommen Chandy alleges that the government had actually shouldered a heavy burden. The state government is leasing 246 acre of land for 99 years for the Smart City project for Rs 104 crore. The project, the first major FDI in the IT sector in Kerala, would be spread over 8.8 million square feet built up area, of which 70 per cent would be for IT and ITeS. It is to be modelled along the lines of the Dubai Internet City and Dubai Media City.
The smart city gives a great opportunity for Kerala to compete with Karnataka and Tamilnadu in Information Technology. Due to the presence of the marxist parties, Kerala is flooded with strikes and trade unions.

Thursday, November 8, 2007

Some facts....

A good investor who gets one penny in his hand will make it two. Those who have two will go for three and the like... Only such people will succeed in life..
When we talk about 'Investments' we cannot ignore 'Decisions'.
It is the decision of a person which makes an investment best or the worst. To take better decisions, the person should be more knowledgeable about the investment opportunities that is available in his reach. In this modern era, the reach will cover even the entire universe. A person sitting in US can invest in India and vice verse. Technology changed and so is the world.
More and more investment options are wide open today. For those investors looking forward to India, this is the best time. Reasons are manifold. India is currently one of the largest economy in the world. India welcomes foreign investments (but approval is required). The approval is automatic in sixty categories of industries. India is in a very strategic position and easily accessible to south Asian counties. FMCG Companies are having a big time in India at present and it will remain so in the next 10 years. The consumer market in India accounts to almost 300 million people which is rapidly growing day by day. Demand for several consumer products is growing at over 12% per annum.
India is also a very attractive destination because of its skilled workforce available at competitive price. More and more budding professionals and managers are there who could produce more and is capable of delivering quality outputs to their employers.
One of the factors which triggered the growth of Indian GDP is the manufacturing sector. India is one of the largest manufacturing sectors in the world, spanning almost all areas of manufacturing activities. In the coming years we could hope that India will rise to be one of the top countries in the world... Get invested.