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Invest in northeast: DoNER minister to women entrepreneurs

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Guwahati: DoNER Minister Jitendra Singh on Tuesday invited women entrepreneurs from across the country to invest in the northeast and take the lead in developing the region as an industrial hub.

The unique advantage of any women’s initiative was that it has a wider social and public impact and also because a woman holds stake for at least three generations — her parents and in-laws, her husband and brothers, and her children, the minister said while launching the “Swayam” initiative of the Federation of Indian Chambers of Commerce and Industry (FICCI) women’s wing in Guwahati.

Jitendra Singh, who is also minister of state for PMO, personnel, public grievances, pensions, atomic energy and space, said the “Swayam” initiative has already been launched in Delhi and other places, resulting in successful engagement of women in big and small self-employed vocations.

The arrival of “Swayam” in Guwahati, he said, will open a new chapter in the growth of the northeast.

At the same time, it will also open new vistas of opportunity, not only for women but for the entire population of the eight northeastern states, he said.

“In the last few months, a number of new initiatives have been undertaken by the government of India to promote business, industry and consequential job avenues in the region,” he said.

Jitendra Singh spoke about the “Organic Farming Mission”, being pursued in collaboration with the union agriculture ministry, which will not only generate business but also reinforce the identity of the region through its original products.

Similarly, he said, expansion of healthcare entrepreneurship in the region is also being worked out in a big way through private-public participation.

He said that in the health sector, some leading women entrepreneurs have come forward to set up establishments in the northeast.

Jitendra Singh said that in the contemporary society, the time has come to seek not merely employment but long-term employability, and for this, the “Swayam” initiative holds the promise to go a long way.

“In addition, when we talk of ‘Act East’ policy to do business with the countries across the eastern borders, it is imperative to generate original growth products proximal to the eastern borders within northeast so that they get takers from across the borders,” he added.

(IANS)

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Northeast is Fast Emerging as the new Start-up Destination, Says Minister Jitendra Singh

Due to improvement in connectivity and transport facility in the last two years, coupled with concentrated administrative focus, more and more youngsters are now heading towards the northeastern states to venture into entrepreneurship

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Union Minister of State for Development of the North Eastern Region Jitendra Singh. Wikimedia

New Delhi, October 16, 2017 : Union Minister of State for Development of the North Eastern Region (DoNER) Jitendra Singh claimed that the area was fast emerging as the new start-up destination for youngsters from all over India, an official statement on Monday.

Due to improvement in connectivity and transport facility in the last two years, coupled with concentrated administrative focus, more and more youngsters are now heading towards the northeastern states to venture into entrepreneurship and take advantage of its unexplored potential, he said, according to a DoNER Ministry statement.

Citing an example, he said in certain areas of Northeast, including states like Arunachal Pradesh, “while almost 40 per cent of the fruit goes waste on account of lack of adequate storage and transport facilities, the same can be used to produce and manufacture fresh and pure fruit juice at a much more cost-effective price”.

ALSO READ Over 4,000 km of roads, highways to be constructed in northeast

During an interaction with youngsters, Jitendra Singh also pointed out that many new airports coming up at Pakyong (Sikkim), Itanagar and Shillong, which along with a time-bound plan to lay broad-gauge rail track, would bring in further ease of doing business.

“Another sector of entrepreneurship which is fast emerging in Northeast is the medical and healthcare sector.

“For years, there has been a trend for patients to shift outside the region, mostly to Kolkata or Vellore, but the encouragement given to the private corporate sector has now resulted in the opening of new hospitals within the region itself and young entrepreneurs are taking the lead,” he said. (IANS)

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Key Pointers before investing in Plots of Land

Apart from constructing a house, a plot of land is a great investment

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Land Plots (Representational Image), Pixabay

March 10, 2017: Building a home from brick to brick and having the sovereign choice of the floor plan is a dream that many of us harbor but only a few accomplish.

Apart from constructing a house, a plot of land is a great investment. There are many who like to invest in land instead of a flat and argue that buying a flat is high maintenance and does not give good returns on investments when compared to a plot for sale in Chennai.

It is generally the second home buyer or investor who invests in land or a plot for sale in Chennai or any other flourishing city. Investment in both land and apartment has its own merits and demerits.

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The few important merits of investing in a plot of land are:

  1. There is a lot of freedom to design and shape a plot, which is not possible in an apartment.
  2. With space availability vanishing quickly in the city, the rate of land is expected to appreciate very quickly.
  3. Flexibility to build as per the city’s future requirement helps the cost of land and property to appreciate very fast.
  4. The land is always in demand. The value normally appreciates due to zero depreciation of land.
  5. There is little or no competition for raw land, so being the only prospective purchaser is a huge negotiating advantage.

But, there are some demerits to investing in a plot.

  1. Land generates very low income if rented sometimes. It is difficult to reoccupy a land if tenant pushes it into litigation.
  2. Banks do not provide finance for buying a land/plot.
  3. It is essential to make legal checks on ownership history.

The key to a good investment is research and complete knowledge about the investment. Some of the things to keep in mind before buying a property are:

  1. Clear land title with no outstanding loans, taxes or mortgages must also be investigated. A buyer must ensure that the land parcel is not reserved for any government projects and does not belong to the agricultural category.
  2. Investigation on infrastructural development around the area should be made. Inquire availability of proper roads and Infrastructure in the area, also amenities within the projects and other developments coming up around the property needs to be researched.
  3. Landlocked properties or oddly shaped properties should be avoided. Required building setbacks could make a narrow plot worthless.

In the recent times, the southern state of Chennai has emerged as one of the top destinations for investing in land/ plot. Chennai is more appealing than other metros of the country, as it is a rapidly expanding manufacturing hub of India.

The state houses manufacturing units of top carmakers, as well as, other industries like IT industries, Telecom, etc. All these establishments are creating a big investment opportunity in the city with high growth and shooting prices.

The ideal destinations for investment in the city include:

  1. Gandhi Salai and Oragadam: They are the hubs of activities for the IT and manufacturing sectors. While Rajiv Gandhi Salai is an attractive choice due to its proximity to the various IT Parks and IT-SEZs, plots near Oragadam are ideal for investment, as it is an automobile hub. These locations are well connected by road and rail, and the presence of various multinational companies has triggered the real estate growth.
  2. Vandalur-Kelambakkam Road is one of the future growth corridors of the city, as it connects two important arterial roads Grand Southern Trunk Road (GST) with Rajiv Gandhi Salai. Easy connectivity and presence of many educational institutions in the vicinity have positively impacted the real estate sector in this area.

The land prices in these areas range between INR 500-2,500 per sq ft. The buyers have a variety of options to choose what can fit their budget.

In a city whose demographic is changing constantly with apartments becoming the norm rather than the exception, a plot as a mode of investment is becoming highly lucrative. The severe space crunch in the city has resulted in land prices going through the roof, sending plot developers and buyers scout for land on the outskirts. It has resulted in a spurt of real estate development in these localities.

 

 

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Korea is Emerging as an Important Economic Partner for India

Fast growing economic relations between Korea and India

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Representational Image, Source-pixabay

Feb 28, 2017: When India liberalized in 1990s, international companies were reluctant to invest in India. Korea was the first country which dared to invest in India when other countries were reluctant to take the economic risk of investing in the 1990s. Korea subsequently became the 4th largest investor during the 1990s.

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Bilateral economic relation between India and Korea is important for both India and Korea, Korea’s Trade Minister Joo Hyung-hwan had said last year, “Fostering close economic ties with India is the top priority for Korea.” Further, the Federation of Korean Industries (FKI) had said last September,  “Korea needs to deepen economic ties with India and Vietnam for its economic growth,” reported Korea Times

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Economic relations with India is important for Korea as its relation with its 3 important trading partners- US, Japan and China is declining. Relations with US are fast declining due to America’s policy of protectionism and the new policies of Trump. Historical issues with Japan and Japan’s economic stagnation, as well as Korea’s decision to deploy US missile system, has soured Korea’s relation with both these two countries, hence relations with all 3 countries have become precarious.

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In January last year, a Memorandum of Understanding (MoU) was signed between the India and Korea for establishing the platform “Korea Plus” a joint initiative of Ministry of Commerce and Industries of both countries, a platform established to promote and facilitate Korean investments.

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Few of the Korean startups are also doing business with Indian companies. Bangalore based real estate portal NoBroker had announced that it has raised $7 million (Rs 50 crore) in one round led by KTB Network, a Seoul-based VC firm in December last year. Softbank of South Korea had had led one round of funding for the Gurgaon-based True Balance, the CEO of True balance is Cheolwon (Charlie) Lee, a Korean.

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Prepared by Upama Bhattacharya. Twitter @Upama_myself