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Reliance Communications has made full repayment of two loans amounting to $1 billion (around Rs 6,000 crore), during the quarter ended June 30.The repayments have been from the company's rupee resources.

Business News

Manufacturing hub coming up in Delhi

Monday - Nov 26, 2012, 11:53am (GMT+5.5)
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New Delhi - DSIIDC is establishing a large multi-level manufacturing hub for industries to set up or expand their activities here in the non-polluting manufacturing sector.

The industrial estate will be located on an area of about 150 acres in Ranikhera in west Delhi, a spokesperson for the Delhi State Industrial and Infrastructure Development Corp told IANS.

Constructed spaces of about 5.5 lakh square meters will be given to the manufacturing industries, the spokesman said.

Outlining the corporation's plan coinciding with the India International Trade Fair, the spokesman said DSIIDC was also in the process of setting up a Knowledge Based Industrial Park.

This would cover 77 acres at Baprola, also in west Delhi. The project cost was estimated at about Rs.1,800 crore.

The project will cater to specific needs of IT, ITeS Industry, media, research and development, and gems and jewellery and will provide housing units for knowledge based industrial workers.

"A world class incubation centre for high-tech and knowledge based industries may also be set up in the Knowledge Park," he added.

Under the Delhi Industrial Development, Operation and Maintenance Act, every industrial area in the capital will be placed under DSIIDC for their management, operation and maintenance.

A Business Facilitation Council has been set up to facilitate entrepreneurs to obtain clearances from various departments and agencies to set up industrial enterprises in the National Capital Territory.

A total of 22 non-conforming industrial clusters have been notified for redevelopment in Delhi, the spokesman said.

Redevelopment work includes widening of roads, laying of services, development of open space and providing parking space.

DSIIDC, the official said, has signed preliminary and preparatory Memorandum of Understanding with the local associations for redevelopment of two notified clusters.

The corporation has also built over 15,000 houses for the poor under JNNURM and Relocation Scheme. An additional 30,000 dwelling units are under construction.

The State GDP of Delhi for 2011-12 is Rs.2.13 lakh crore, an increase of 11.43 percent over the previous year.

According to the Delhi government, the vision is to make the capital a hub of clean, high-technology and skilled economic activities by 2021 by a policy shift essentially to change the industrial profile from low-skilled to high-tech and high-skilled.

Accordingly, the government will seek to promote non-polluting, knowledge based, high-technology and skilled industries to keep migration of unskilled labour to Delhi to a minimum.


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