Competitive Exams: Current Affairs 2011: Industries News

Industries News

Maharatna status to Coal India w. e. f. 8 April 2011

  • The Central Public Sector Enterprises fulfilling the following criteria are eligible to be considered for grant of

  • Having Navratna status

  • Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations

  • An average annual turnover of more than Rs. 25, 000 crore during the last 3 years

  • An average annual net worth of more than Rs. 15, 000 crore during the last 3 years

  • An average annual net profit after tax of more than Rs. 5, 000 crore during the last 3 years

  • Significant global presence or international operations

  • Four PSU's IOC, NTPC, ONGC and SAIL were conferred Maharatna status in May 2010. Setting up of an Empowered Committee for identifying technology and investors for Semiconductor Wafer Fabrication (Fab) Manufacturing Facilities in the country

  • Comprising Adviser to PM on Public Information, Infrastructure and Innovation and others.

  • The Empowered Committee will identify technology and potential investors for establishment of Semiconductor Wafer Fabs, and thereafter ascertain their interest in setting up of Semiconductor Fab facilities in the country; to assess and recommend the nature and Quantum of Government support such as equity/grant/subsidy in physical/financial terms that may be required.

  • A Committee comprising the Chairman, National Manufacturing Competitiveness Council (NMCC) and Adviser to Prime Minister on Public Information Infrastructure and Innovation and including the Member Secretary, NMCC; Secretary, Information Technology and Secretary, Telecommunications has made five recommendations: Set up Semiconductor Wafer Fabs; Create policies for preferential access to Manufactured-in-lndia Indian Products electronics goods for all government procurements and procurement by Government Licensees; Set up a dedicated Electronic Development Fund; Set up of a National Electronics Mission (NEM) and Encourage manufacture of specific high priority electronic product line in India by providing capital grant and creation of electronic manufacturing clusters.

  • The Rough Order of Magnitude (ROM) of investment for the tw-wafer fabs (Fab-1 and Fab-2) is estimated at to be Rs. 25, 000 Crore (approx. US$5 Billion).

Pharma Sector

There are 10, 563 manufacturing units in the country according to first directory of Pharmaceuticals manufacturing units.

The Department of Pharmaceuticals (DoP) is in the process of examining a proposal to set up a Venture Fund for promoting Pharma drug discovery and innovation.

Shortage of Coal

As per the Annual Plan Document 2011 − 12, the likely demand for coal in the country is 696.03 MT and the projected domestic coal production is 554.00 MT. However, 5 MT of coal stocks are proposed to be liquidated by CIL bringing down the gap to 137 MT. The gap will have to be met through imports.

FDI in Defence

The Department of Industrial Policy and Promotion (DIPP) has circulated a Discussion Paper suggesting raising FDI cap in Defence manufacturing sector to 74% or more from the existing 26%.

Contribution of Mining Sector to the GDP

The contribution of mining and quarrying sector (excluding Atomic minerals & metals) to the Gross Domestic product (GDP) at current prices in 2009 − 10 was 2.52%.

Courtesy: The Hindu and Times of India