in Muscat in January 2013. The Chief of Naval Staff of India visited Oman during April 2013 on the invitation of the Commander of the Royal Navy of Oman. A delegation from the National Defence College of India toured Oman during September, 2013. India and Oman held their biennial joint naval exercises Naseem-Al-Bahr (‘Sea Breeze’) in the Sea of Oman during September, 2013 in which four Indian naval ships of the Western Fleet: INS Mysore, INS Tarkash, INS Tabar and INS Aditya participated. Indian Air Force held the joint biennial air exercise Al Jisr Al Sharqi (‘Eastern Bridge’) with the Royal Air Force of Oman in Masirah Island during October, 2013. Earlier, during April-May 2013,

a delegation from the National Defence College of Oman made a study tour of the National Defence College of India. In enhancement of the cooperation, India has provided an increased number of training slots for Omani defence personnel.

As part of its development cooperation effort, India has been imparting training to Omani nationals under the fully-funded Indian Technical & Economic Cooperation (ITEC) programme which presently provides 125 training slots per annum for Oman. The high rate of utilization coupled with the participation in the Embassy’s annual ITEC Day celebrations is testimony to the popularity of the programme in Oman.

There is active economic-commercial cooperation between the two countries. Our bilateral trade, which is in the range of US$ 5 bn, continues to grow and new investments are being tied-up. Indian exports to Oman have registered nearly hundred per cent growth during the

emerged as the largest destination of its non-oil exports. At the same time, the latest data shows that Oman’s oil exports to India were also growing at a remarkable rate. Further, India’s recent decision to lift the anti-dumping duty imposed in 2010 on Omani polypropylene imports will provide a further impetus to bilateral trade. The Oman-India Joint Investment Fund which started disbursements in 2012 would soon be completing deployment of its initial corpus of US$ 100 mn. The Indian Embassy has been supporting visits from the apex organizations like the Confederation of Indian Industry (CII), Federation of Indian Chambers of Commerce and Industry (FICCI), and Federation of Indian Export Organizations (FIEO), which mounted business delegations during 2013 and also participated in various trade-fairs held in Oman. Under its market expansion activities, the Indian Embassy hosted a couple of India Business Seminars in 2013, the latest in December, which

economic institutions of India - the Confederation of Indian Industries (CII) and the State Bank of India (SBI). These well-attended investment-focused events have become a valued forum for Omani and India investors alike.

A number of Indian companies operating in the construction sector in Oman won megaprojects during 2013 against stiff international competition. South Asia Gas Enterprise Pvt. Ltd. (SAGE) successfully completed during May-June 2013 its survey in the Sea of Oman for the natural gas Middle East-to-India deep-sea pipeline (MEIDP) project.

It gives me immense pleasure today on the 65th Republic Day of India in extending my heartiest congratulations and felicitations to all my countrymen and persons of Indian origin living in the Sultanate of Oman, and in sharing the pride that we all cherish being part of our great motherland - India. This joy and pride is nurtured by the warmth of friendliness, love and affection that the Indians get from their Omani brothers and sisters, while living in homes of their choice in the Sultanate, and engaging themselves in various professions contributing to the development and progress of both the countries. I wish to express my sincere thanks and gratitude to His Majesty Sultan Qaboos bin Said Al Said and his Government for their benevolence, which sustains this large, diverse, accomplished and highly regarded Indian community living in the Sultanate of Oman.

Strong bilateral relations are complemented by close cooperation in the framework of the newly rechristened Indian Ocean Rim Association (IORA) of which India and Oman are founding members.

India and Oman have strived together to strengthen their centuries old civilizational links and the historical socio-economic relations which have since evolved into a strategic partnership. Excellent political relations are nurtured through regular exchange of high-level visits which have seen our President, Vice-President and four Prime Ministers of India visiting Oman in the past. From Oman, His Majesty Sultan Qaboos and Deputy Prime Minister for the Council of Ministers, His Highness Sayyid Fahd have visited India. During April 2013, an eleven-member Omani Shura Council delegation visited

Parliamentary Friendship Group, and had interaction with the two Houses of the Indian Parliament with regard to parliamentary practices. Deputy National Security Adviser of India visited Oman during October 2013 for cooperation

Bilateral cooperation in agriculture, civil aviation, culture, S&T, education, defence, and economic & commercial areas progressed well during 2013. Several visits of experts in agriculture were exchanged in the implementation of the agreed work-plan for cooperation. India and Oman

week between the two countries, while Spice Jet airlines

commenced its operations to Oman. There was intense cooperation between the National Archives of India and the National Records and Archives

from both sides exchanged visits for pursuing progress and expanding the partnership with regard to archives and records. Two Omani delegations visited India for exploring cooperation with various Indian organizations

August 2013, Vice-Chancellor of Dhofar University led his delegation to India and signed MOUs for cooperation with a number of premier educational institutions in India.

during 2013 marking our defence cooperation with Oman. The Joint Military Cooperation Committee (JMCC) convened its sixth session

India and Oman enjoy age-old ties extending over several millennia, and reinforced in contemporary times to a

Indian traders visiting what is now modern day Oman goes

was a major source of frankincense and horses destined for Indian shores.

Today, horses and frankincense have yielded to a much more vibrant trade basket comprising petroleum, petrochemical products and fertilizers, machinery, electrical

yarn, textile and apparels, meat, coffee, tea, rice, plastic products and seafood.

According to data maintained by the International Trade

2011 coming close behind Saudi Arabia and the United States. In terms of Oman’s exports, India was Oman’s third largest market in 2011.

India’s trade with Oman has skyrocketed over the past ten years. India’s exports have shot up from US$ 198 million in 2002-03 to US$ 2.6 billion in 2012-13. At the same time, India’s imports from Oman have grown from a mere US$ 13.84 million in 2002-03 to US$ 2.0 billion in 2012-13.

India is a major source of Oman’s imports of electrical equipment, iron and steel, plastics and ores – ranking among its top 5 suppliers of these products. India is a major market for not only Oman’s mineral fuels and oils but also for organic chemicals, fertilizers and iron and steel.

This robust trade relation has created major investment opportunities for Indian and Omani companies. According to the Embassy of India in Muscat, as of July 2010, there were 1527 Indo-Omani JVs in Oman of which Indian investment is estimated around USD 4.5 billion. Key amongst these are the Oman-India Fertilizer Company (OMIFCO), a US$ 969 million joint venture with Oman Oil and IFFCO & KRIBHCO and the Jindal Shadeed Iron & Steel plant - a US$ 464 million investment from the Jindal Group.

Apart from this, Indian companies are active in various sectors like oil gas, mining, manufacturing, IT & telecom, power & water, construction, real estate & consultancy, healthcare, warehousing & logistics, railway sector, steel, etc.

Omani companies in India are present in diverse areas like oil & gas, manufacturing, IT & telecom, hospitality,

(BORL), promoted by Bharat Petroleum Corporation Limited (BPCL) and Oman Oil Company Limited (OOCL).

in Sagar district of Madhya Pradesh along with a crude supply system. The US$ 2.4 billion project was inaugurated in May, 2011.

While the overall bilateral economic relationship is

substantive and healthy, there is always room for growth. The two countries need to stretch their frontiers and explore newer areas.

One such area is that of clean energy. As the world focuses on the effects of global warming and the need to develop long-lasting, clean, but affordable energy sources, Oman’s energy sector is well placed to engage with emerging opportunities, create new ones and position itself at the forefront of the new wave of clean energy solutions, which will ensure future growth and prosperity. The CII-ITC Center of Excellence for Sustainable Development and the CII – Sohrabji Godrej Green Business Centre can partner for

sources.There is also a need to expedite the undersea Gas Pipeline

Project / Energy Corridor which is planned to help transport natural gas via the deep sea route to India.

Oman is also in the midst of diversifying its economy to reduce its dependency on oil and gas. As a part of that effort, its Eighth Five Year Plan is aimed at creating a conducive climate for investment in both services and manufacturing.

India can be a ready and willing partner in this process. Areas of collaboration can include information technology, electrical equipment, auto components, rubber products, organic chemicals, plastics, healthcare, pharmaceuticals and industrial machinery among others.

In addition, India could also help train young Omani entrepreneurs for promoting Small and Medium Enterprises (SMEs) in the country. The Confederation of Indian Industry (CII) - Avantha Centre for Competitiveness for SMEs is well poised to provide the support that Oman requires to train and promote these entrepreneurs.

Oman’s strategic location provides it with a unique opportunity to act as a gateway to the Gulf. The development of the GCC railway project from Kuwait to Muscat, then to Salalah extending up to the Oman-Yemen border will go a long way in helping promote access of Indian goods to other regions in Oman as well as to other countries in the Gulf region.

With Oman being located in an arid belt, it depends on groundwater and its limited rainfall for water supply. Water management, therefore, becomes critical to Oman’s development. CII through its CII- Triveni Water Institute can help stakeholders in Oman build capacity and address

In conclusion, while India-Oman relations are robust and vibrant, it has only touched the tip of the iceberg. There is tremendous potential to expand this cooperation to previously unexplored areas. India can be a strong and willing partner in Oman’s development process. * The writer is the Director General of the Confederation of Indian Industry

India-Oman Relations: Aiming for a New Growth Trajectory

Cont’d on Page 2.

Ambassador’s Message

Engineering Industry in India

2

The Indian engineering sector is of strategic importance to the economy owing to its intense integration with other industry segments. Development in sectors such as

automotives, and consumer durables are driving demand in the engineering sector. Major foreign players are also

engineering segment as it enjoys a comparative advantage in terms of manufacturing costs, market knowledge, technology and creativity.

The total exports of Indian engineering sector stood at USD 56.7 billion during FY 2013 and are anticipated to grow to USD 125 billion by FY 2014. Exports from the engineering segment have registered a compound annual growth rate (CAGR) of 12.6 per cent over the period FY 2008-13, wherein transport equipment is the leading contributor to engineering exports.

The Indian Government also plays a crucial role in developing the engineering section of the economy. The engineering industry has been de-licensed and enjoys 100 per cent foreign direct investment (FDI). Exports

The engineering sector is one of the major contributors to the country’s total merchandise shipments. The US and Europe together account for over 60 per cent of India’s total engineering exports.

Engineering exports mainly include transport equipment, capital goods, other machinery/equipment and light engineering products like castings, forgings and fasteners.

The Ministry of Commerce and Industries has set a target of shipping USD 125 billion worth of engineering goods by the end of 2013-14. Indian engineering companies are scouting for newer markets (like Latin America, Africa etc.) for exports along with strengthening their base in the USD and Europe.

Engineering goods represent India’s third-biggest export sector which rose 2 per cent in August 2013. Engineering exports are projected to cumulatively expand by 22 per cent in September-December 2013 to USD 21.5 billion against

Design & Engineering- Key Developments and Investments

The miscellaneous mechanical and engineering

2000 to July 2013 were calculated at USD 2.48 billion, as per the Department of Industrial Policy and Promotion (DIPP).

Kirloskar Brothers Ltd (KBL)’s subsidiary SPP Pumps has launched its most advanced facility at Atlanta, USA, embarking the inauguration of KBL’s seventh manufacturing facility worldwide. With an outlay of USD 6 million, the new plant is equipped with latest engineering, testing and training set-up and has an annual installed capacity of 2,500 units. With the opening of the new facility, SPP Pumps expects its production capacity to increase by 30 per cent and the turnover to reach US 40 million over the next three years. Meanwhile, L&T has been appointed for an engineering, procurement and construction (EPC) project worth about USD 250 million by Petroleum Development Oman (PDO). The project, which is scheduled to be completed in 39 months, involves the Yibal-Natih gas reservoir in Oman and is considered to be of strategic importance for L&T.Bharat Petroleum Corporation Limited (BPCL) has awarded a Rs 700 crore (USD 111.88 million)-contract to Dubai-headquartered Essar Projects Limited (EPL) for Engineering, Procurement, Construction and Commissioning as well as commissioning assistance (EPCC) of the Coke Drum Structure Package (CDSP) of the

The scope of work includes project management, residual process design, detailed engineering, procurement, fabrication, construction, commissioning, and performance testing of the CDSP of the DCU for BPCL.AION Capital Partners, a joint venture (JV) between

Apollo Global Management (a leading assent management company) and ICICI Venture (one of India’s oldest private equity players and an arm of the largest private sector bank), has made an investment of Rs 300 crore (US 47.94 million) in Jyoti Structures, Jyoti Structures is a Mumbai-based, mid-sized company, specialising in power transmission, distribution and EPC projects.

Government InitiativesPrime Minister Dr Manmohan Singh has revealed the

country’s new Science, Technology and Innovation policy which aims to increase the number of full time equivalent of R&D personnel in India by at least 66 per cent of the present

Alongside, the National Policy on Electronics (NPE) proposes to set up more than 200 Electronic Manufacturing Clusters in India while the Government of India (GoI) has

proposed to create an electronics development fund of USD 2 billion to promote innovation, intellectual

property, R&D, nano electronics and help commercialise made-in-India products.

The chip design and embedded software market in India is estimated to reach US 55 billion by 2020, as per the targets set by NPE.

In addition to that, the Government p l a n s t o g i v e a n i m p e t u s t o

engineering in India through i n v e s t m e n t s i n

i n f r a s t r u c t u r e d e v e l o p m e n t i n 2 0 1 2 - 1 7 i n

telecom, energy and construction sector, as

per a report by Nasscom and Booz & Co.Road Ahead

services company, proving the country’s strategic position

of the company which would reach this milestone, it said Wipro, HCL Technologies, Tata Consultancy Services, Tech

outsourced to India. The report further mentioned that Indian engineering

service providers enjoy a crucial position, with about 23 per cent of the overall engineering and R&D outsourcing pie. India’s exports in the R&D and product engineering segment are currently valued at USD 16.3 billion and are poised to grow exponentially over the coming years.

Industry analysts project that by 2020, the Engineering Services Outsourcing (ESO) market in India would reach USD 40-50 billion, driven by increasing onshore to offshore movement of services.

toughest of times and yet stands strong and robust among the world economies. Having a deep impact of the far-reaching changes in the Indian economy since liberalisation, the new face of this industry is evolving in a strong, transparent and resilient system.

baskets with the introduction of several new instruments and products in banking, insurance and capital markets space. The sector was opened up to new private players, including foreign companies who embraced international best practices and modern technology to offer a more sophisticated

retail and institutional customers. Financial sector regulators too have been visionaries to ensure that new r e g u l a t i o n s a n d guidel ines are in tandem with global n o r m s . T h e s e developments have given a robust boost

sector in India. Insurance Sector

Indian life insurance sector collected new business premiums worth Rs 11,742.7 crore (US 1.92 billion) for April-May 2013, according to data from the Insurance Regulatory and Development Authority (IRDA). Life insurers collected Rs 1,07, 010.7 crore (US$ 17.47 billion)

31, 2013.Meanwhile, the general insurance industry grew by 19.6 per cent in April-May period of FY 2013-14, wherein the non-life insurers collected premium worth Rs 13,552.46 crore (US 2.21 billion).

Banking ServicesAccording to the Reserve Bank of India (RBI)’s ‘Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks’, March 2013, Nationalised Banks accounted for 52.4 per cent of the aggregate deposits, while the State Bank of India (SBI) and its Associates accounted for 22 per cent. The share of New Private Sector Banks, Old Private Sector Banks, Foreign Banks, and Regional Rural Banks in aggregate deposits was 13.6 per cent, 5.1 per cent, 4 per cent and 2.9 per cent, respectively.Banks’ credit (loan) growth increased to 18 per cent for the fortnight ended September 6, 2013, while deposits grew by 13.37 per cent showed the data by RBI.India’s foreign exchange reserves stood at US$ 282.95 billion as of October 25, 2013.

Mutual Funds Industry in IndiaIndia’s asset management companies’ (AMCs) average assets

under management (AUM) in August 2013 stood at Rs 7.66 lakh crore (US$ 125.10 billion). Private Equity, Mergers & Acquisitions in India

bullish about India’s consumer goods and services sector.

PE and VC investments increased by more than 46 per cent

in retail, e-commerce, consumer packaged goods and quick service restaurants raising US$ 609.39 million through 51 deals. Meanwhile, Indian merger and acquisition (M&A) space

nine months of 2013. There were 377 deals amounting to

Grant Thornton.Foreign Institutional Investors (FIIs) in India

Investments in Indian markets (equity, debt and derivatives) through participatory notes (P-Notes) increased to US$ 23.74 billion by the end of July 2013, according to the data released by Securities and Exchange Board of India (SEBI).

P-Notes allow high net-worth individuals (HNI), hedge funds and other foreign institutions to invest in Indian markets through registered FIIs.The FIIs investments through P-Notes registered a growth of 11.45 per cent in July 2013 as compared to 10.93 per cent in June 2013.

Overseas investors infused more than US 2 billion in the Indian stock market in the month of September 2013. Since the beginning of 2013, they have pumped a net US 13.7 billion in equities. Moreover, given the higher yields offered by Government and corporate debt, the FIIs have been aggressively buying bonds since the beginning of 2013. The debt market

billion) in January-May 2013.As of October 4, the number of registered FIIs in the country stood at 1,744 and the total number of sub-accounts at 6,358.

Financial Services in India: Recent DevelopmentsBangalore-based online retailer Flipkart has raised US 200 million from its existing investors including South African

technology company Naspers Group and Private Equity (PE)

already placed investments to the tune of US 181 million

funding has marked the single-largest round of investment infusion. The funds would be used to build technology and will help the company strengthen its supply chain and human resource base.Private lender HDFC Bank is planning to launch 500 mini branches, to be handled by one to three people, across India by the end of FY 2013-14. The bank has added about 219 mini branches pan-India since 2012.

Continued from Page 1

Financial Services in India

Continued on Page 3

From Oman, The Chairman of the Public Authority for Investment Promotion and Export Development (PAIPED) led strong business delegations to India during May and December 2013 for promoting Indian investments into Oman. An Omani delegation for promotion of export of Omani dates visited several cities in India during September-October, 2013.

Increasing number of Omanis are visiting India for the traditional leisure tourism, medical treatment, education, business and other purposes. During the year 2013, the Indian Embassy issued over 59,000 visas. Medical tourism in India has been gaining popularity with visitors from all over the world, including Oman. The availability of state-of-the-art medical facilities at reasonable costs make India a value-for-money destination. Reputed hospitals in India are also reaching out by opening their branches in Oman.

The centuries-old people-to-people contacts and intense cultural cooperation are sustained and nurtured by the vibrant Indian expatriate community in Oman, keeping alive the diversity of its cultural heritage through rich display of traditions, dance, music, costume, cuisine by regularly hosting cultural performances and inviting celebrity artistes and singers from India to enthral Indian and Omani audiences alike. Cinema fans in Oman have always been fond and appreciative of the Bollywood bonanza. Moreover, the rugged and beautiful Omani landscapes have pleasantly emerged as one of the favourite

of cooperation holds a promising potential for enhanced people-to-people interaction between our two countries.

It is a matter of pride that the Indian expatriate community has been contributing the best of their knowledge and skills, sweat and toil in support of development in Oman. To accentuate this feeling, among the numerous highly-acclaimed Indian

women professionals in the corporate sector in Oman are also making their mark and winning laurels. An impressive Indian schools system in Oman is catering to the educational needs of 40,000 children, many of whom are scaling new heights in pursuit of academic & extra-curricular excellence. For the welfare of the Indian community, the Government of India has introduced various schemes and measures like the Indian Community Welfare Fund. Voting rights have been conferred on the Non-Resident Indians which can be availed of in the forthcoming general elections in India. In order to review consular and community welfare issues, the Indian Embassy holds regular interactive ‘Open House’ sessions providing an additional informal forum to address any grievances and welfare needs of the Community, apart from a 24x7 helpline service for emergencies.

In conclusion, I wish to once again warmly greet my fellow citizens on this day of our national pride and sincerely thank the Government and people of Oman for their warmth and continued support for the Indian community in the Sultanate.

Ambassador’s Message

Continued from Page 2

3

The basic motive behind such a initiative by the Bank is to take the formal banking experience to people in unbanked and under-banked areas. A mini branch, manned by one, two or three persons, offers the entire range of products and services. Financial Services: Government Initiatives

In order to attract more of foreign capital to Indian markets, SEBI has eased norms for overseas investors in the debt category. As per the new rulings, FIIs will be allowed to buy Government securities (Gilts) directly from the market, rather

than from the monthly auction conducted by the regulator to allocate these papers.

the country besides making the cost of acquisition of gilts cheaper for foreign investors. In a similar initiative taken earlier in 2013, SEBI had allowed FIIs to buy corporate debt (which were also allocated through auction previously).Road Ahead

A report by KPMG prepared in association with the Confederation of Indian Industry (CII) states that the Indian

world by 2020. The report highlights that India is one of the top 10 economies of the world and with relatively lower domestic credit to gross domestic product (GDP) percentage, there lies huge scope of growth for the banking sector. Bank credit is expected to grow at a compounded annual growth rate (CAGR) of 17 per cent in the medium term, eventually leading to higher credit penetration in the economy.

Meanwhile, IRDA estimates that the insurance business in India would touch Rs 4 lakh crore (US$ 65.32 billion) by the end of FY 2013-14. The regulator is considering bringing out norms for sub-brokers of insurance products as well.

India is the largest manufacturer of cut and polished diamonds, and this Indian industry is one of the largest in the world. Rajasthan, the desert state of India, is the biggest production centre of coloured, precious and semi-precious stones. Two-third of India’s export of the precious and semi-precious stones emanates from Rajasthan as its capital, Jaipur, known as the Pink City of India, has been the cradle of the gemstone industry for over 300 years. jaipur, over the centuries, has also been home to many miniature artists. From the 16th century onwards, different schools of painting like the Mewar, Jaipur, Bikaner and Kishangarh have

has given to the world the marvellous miniature painting of a beautiful courtesan: Radha Kishangarh, who rose to fame in the court of King Mohammad Shah Rangila. The woman was so beautiful that she mesmerised Prince Sawant Singh and he fell deeply in love with her and later abdicated his kingdom to lead the life of a commoner with her in Varanasi, the holy city of India. She wore so much of make-up and jewels that she was better known as “Bani Thani” and the painting got the title “Bani Thbani ki Chhavi” image of a well made-up belle). The Kishangarh school acquired distinction for its Bani Thani style of paintings with exaggerated features, long

decorated beautiful females painted in subdued colours

region of the desert state.

Since the rulers of Amber-Jaipur were the closest to

paintings. With both the arts of gemstone cutting and

miniature painting thriving side-by-side, it was thus no wonder that the accomplished artisans of jaipur innovated a novel form of art by synthesising gemstones with the art of miniature painting. The result? Fascinating gemstone painting. In such paintings, instead of the usual colours and dyes, powder of crushed precious and semi-precious stones is used deftly to create miniature paintings copying the traditional styles. The gemstones commonly used are Amethyst, Chalcedony, Cornelian Agate, Garnet, Green Aventurine, Red Aventurine, Red Jasper, Sodalite, Turquoise and Yellow Agate. Onyx stone is also used. Interestingly, each gemstone painting has an inscription on the reverse detailing the uniqueness of the painting and tiny pieces of the gemstones used in the painting are also supplied with descriptions.

seemingly intricate art, the process of creating gemstone paintings may appear to be simpler. Outlines of the selected painting are impressed on the reverse side of a piece of glass of the appropriate size through the process of screen-

painting by permeating through the screen, one by one,

for the outlines. And then the selection of semi-precious stones is made to adorn the gaps in the details of the sketch. Due care is taken in selection to match the tints of the gemstones to achieve a complementary colour scheme, which

semi precious stones with a strong adhesive is deftly brushed in patches onto different sections of the sketch. Sizes of the paintings also vary from a few centimeters in length and breadth to giant scales. An owner of a trading unit in these paintings reminisced proudly that her artisans had prepared on order a giant gemstone painting of a horse in size 6 feet by 12 feet for a hotel in Jaipur.

The art is therefore being exploited fully to its commercial potential. Apart from the traditional wall hangings, the gemstone paintings also adorn furniture, jewellery-boxes, calendars, greeting cards and invitation cards for marriages and are being popularised in every other conceivable form. As the waste in cutting of precious and semi-precious

remain moderately priced. By Bimal Saigal

4

The Indian Navigational Satellite System

It is a well known fact that the aviation sector not only brings

the globe, but also is a key catalyst of economic growth, social development and tourism. It facilitates connectivity and access to international markets. Air transport currently supports 56.6 million jobs and accounts for over US$ 2.2 trillion of the global Gross Domestic Product (GDP).

pace. The sub-continent’s airport infrastructure is undergoing modernisation with the induction of most advanced facilities. It includes the setting up of new

India is currently the 9th largest aviation market handling 121 million domestic and 41 million international passengers. Today, more than 85 international airlines operate to India and 5 Indian carriers connect to over 40 countries.

Market SizeTotal domestic passengers carried by the scheduled

domestic airlines between January and May 2013 were 25.998 million, revealed the statistics from the Directorate General of Civil Aviation (DGCA).

No-fril carrier IndiGo, led in terms of market share with

29.7 per cent of the pie, followed by Jet Airways-Jet Lite combined at 25.3 per cent, Air India Domestic at 19.2 per cent, Spice Jet at 17.5 per cent, and Go Air at 8.3 per cent, for the month of July 2013.

Air transport (including air freight) in India has attracted foreign direct investment (FDI) worth US$ 456.84 million from April 2000 to July 2013, as per the data released by Department of Industrial Policy and Promotion (DIPP).

Key Developments and Investments

inked a purchase agreement wherein Jet has agreed to buy 50 such planes at a cost of around US$ 5 billion. The agreement is still under negotiation (for discounts). The service of 737-Max is expected to commence by 2017.

National Aviation University at Rae Bareli in Uttar Pradesh, will start imparting training to aspiring pilots, aircraft engineers and cabin crew in September 2014. The educational entity is a government organisation that has been developed to acknowledge the industry’s chronic talent shortage. The university will induct 1.000 students by 2018

to this university.The state of Haryana plans to establish a cargo airport in

the state by taking up Public Private Partnership (PPP) mode

State Industrial and Infrastructure Development Corporation (HSIIDC) will be the equity partner for bearing the cost of land acquisition for the project.

developed at the Cochin Shipyard, has been launched in August 2013. The 40,000 tonne-warship machinery is expected to be operational by 2018. It is done with major

Government InitiativesThe Indian Government is intensely dedicated to the

development of the Indian aviation industry and has introduced several policies and regulatory reforms to boost private participation and investments in the same. Recently, the government allowed 49 per cent FDI by foreign airlines in the sector.

million-Jet-Etihad deal, embarking on the biggest FDI in Indian aviation sector. Etihad would be eligible to become the owner of 24 per cent stake in Jet for US$ 379 million.

Not only that, Jet Airways has also been allowed to go

Malaysian, Garuda of Indonesia, Vietnam Airlines and Kenya Airways – by the aviation ministry. The nod would enable Jet expand its global footprint and become the biggest Indian carrier in terms of network.

A code-share enables two or more airlines share the same

enhance their reach across the global sky. Furthermore, Mr K.C. Venugopal, Minister of State for

Civil Aviation, informed Rajya Sabha during August 2013 that 17 new airports have been proposed for construction during the current 12th Five Year Plan that runs upto March 31, 2017. The airports would be located at Mopa (Goa), Gulbarga, Bijapur, Hassan, Shimoga (Karnataka), Aranmula (Pathanamthitta) and Kannur in Kerala, Sindhudurg, Navi Mambai and Shirdi in Maharashtra, Darba in Madhya Pradesh, Karaikal in Pudducherry, Kushinagar in Uttar Pradesh, Andal-Faridpur in West Bengal, Itanagar in Arunachal Pradesh, Kishangarh (Ajmer) in Rajasthan and Deoghar in Jharkhand.

T h e I n d i a n Government has also b e e n v i s i o n a r y i n te r m s o f t h e t a l e n t requirement for the

industry in future. The problem of shortage of skilled, managerial and operational personnel in aviation, is sought to be addressed through the aviation university. The university will offer and endorse aviation studies, t e a c h i n g , t r a i n i n g ,

research and extension work with focus on emerging areas of studies such as aviation management, aviation regulation and policy, aviation science and engineering, transportation

the proposal. The Indian Government has calculated the project outlay of Rs 202 crore (US$ 31.92 million) for the institution until 2019.

Road AheadThe Indian aviation market is poised to become the third

largest across the globe by 2020, according to industry estimates. The sector is expected to handle 336 million domestic and 85 million international passengers with projected investment to the tune of US$ 120 billion. The Indian Aviation Industry that currently accounts for 1.5 per cent of the GDP, has been instrumental in the overall economic development of the country, said Mr Ajit Singh the Minister for Civil Aviation. He further stated that given the huge gap between potential and current air travel penetration in India, the prospects and the possibilities of growth of the Indian aviation market are enormous.

There is a strong air-services link between India and

Air India Express, Jet Airways, IndiGo and Spice Jet linking various cities in India to Muscat and Salalah in Oman. From

in India. During the Civil Aviation Talks held in Muscat in November, 2012, the two sides signed a revised MOU agreeing on increasing the number of weekly passenger

104, for each side from either end.

When India’s Polar Satellite Launch Vehicle (PSLV-C22) rose from its launch pad at 11.41 on July 1, 2013 from the spaceport at Sriharikota, Andhra Pradesh and put into orbit a navigation satellite called the Indian Regional Navigational Satellite System (IRNSS-1A) 20 minutes later, it signalled that India can build its own navigation satellites for civilian and defence requirements and put them into tricky orbits. The message itself was clear: that India need not depend any more on the U.S.’ Global Positioning System (GPS) or the Russian Global Navigation Satellite System (GLONASS) for the navigation of its civilian ships, aircraft, trucks and cars

aerial vehicles (UAVs) towards their destinations/targets.The PSLV-C22 mission, which put the satellite IRNSS-1A

into orbit, was a special mission on a couple of counts. It was

place at night because the satellite had to be put into a “spe-

experimental satellites, nor a polar sun-synchronous orbit for remote-sensing missions nor geosynchronous transfer orbit (GTO) where the communication satellites are initially slotted, it was a sub-GTO for the IRNSS-1A and ISRO was

billeted the satellite into a perfect elliptical sub-GTO with a perigee of 282 km and an apogee of 20,625 km. From there, it has been boosted into the geosynchronous circular orbit of 36,000 km above the earth.

The IRNSS constellation consists of seven satellites and

seven satellites in orbit by 2015/2016. The IRNSS’ services will be available only after three or four satellites become operational.

India is among the select group of countries including the U.S., Russia, Europe, Japan and China to build its own navigation satellites. They are useful in terrestrial, aerial and sea navigation. They provide accurate information on the position of trucks, cars, battle tanks, aircraft, helicopters, missiles, UAVs, ships, submarines etc. with precise timing reference. Drivers of trucks or cars, pilots of civilian or combat aircraft and captains of ships can plan their route properly by using the navigation satellites. In other words, the navigation satellites help them to know where they are at a particular point of time and guide them towards their destination with the help of a receiver. It can be an indepen-dent receiver or one that is built into a mobile phone, car, truck, ship or a missile.

While the U.S.’ GPS, the Russian GLONASS and the Euro-pean Galileo are global navigation satellites which can be used by anybody anywhere in the world with the help of a receiver. The IRNSS-1A is a regional navigational satellite which will provide positional information to users only in India and the region extending 1,500 km from its borders.

The IRNSS-1A weighs 1,425 kg. Its sun and star sensors and gyroscopes provide it with orientation reference. An atomic clock is part of the satellite’s navigation payload. This atomic clock will provide the timing reference down to more than nano seconds. The satellite’s mission life is ten years. While the Space Applications Centre, ISRO, Ahmedabad, fabricated the satellite’s payloads, the ISRO Satellite Centre, Bangalore, integrated them into a satellite. It was the Vikram Sarabhai Space Centre, Thiruvananthapuram, which built the rocket PSLV-C22. The lift-off took place from the launch pad situated on the beachhead at the state-of-the-art spaceport on the island of Sriharikota. So it was India’s totally indigenous mission.

In aerial navigation, civilian air-craft can use the IRNSS-1A when they are cruising, approaching an airport to land or during landing. During these phases, the aircraft will know their position and the

to land, they will know at what height they are above the runway with an accuracy of 20 metres. Or they can land on the runway within 20 metres of the targeted landing spot.

The IRNSS constellation will help in reducing the distance of separation, both vertical and horizontal, among the air-craft circling over the airports to land. Civilian aircraft need not circle over airports for a long time to get clearance for

queue up to land but the waiting time will be reduced. So time and fuel are saved.

In the busy waterways of the world, the IRNSS constella-tion will help ships to navigate towards their destination through safe and short routes and in guiding them to enter harbours. In terrestrial naviga-tion, drivers of trucks or cars, with the help of a receiver in their mobile phones, can reach their destination through the shortest route available. The constellation will provide visual and voice navigation for drivers. It will

movement of their trucks. The satellites can act as a navigation aid for hikers

and travellers.

accurately reaching the targets – be it a town, an airport or an installation. The circular error probability (CEP) will be reduced. If the CEP is less and less, it means the missile is more accurate in reaching the target. Indeed, the IRNSS constellation can help missiles in “way-pointing.” If there are

information received from the constellation, can circumvent the hills and reach the target. The atomic clocks on board the constellation will enable missiles to execute manoeuvres including rolls at the appointed time.

The IRNSS will be a boon for India’s submarine-launched missiles. The boats ought to know their position – where they are and how far away they are from the target – before

navigation satellites to know where they are. Today, India has an assured access to space. It can build

rockets on its own. It can build any kind of satellite, be it

(Chandrayaan) satellite and put them into their required orbits. The IRNSS-1A demonstrates that India is self-reliant in building navigation satellites too.

5

Investment Opportunities for NRIs in India

Manufacturing Sector in India

The Government of India has taken various steps to promote investments by Indians living abroad, in India. Investment promotion, through dissemination of information on the investment climate and opportunities in India and advising prospective investors including Non-Resident Indians (NRIs) about the investment policies and procedures and opportunities has been taken up as a priority.

For the purpose of investments in India, it should be known that a NRI is a person residing outside India, but who is a citizen of India or is a Person of Indian Origin. A Person of Indian Origin is one who or whose ancestors, was an Indian national and who is presently holding any other country’s citizenship/nationality.

India has a liberal and transparent policy for Foreign Direct Investment, including investments from NRIs, wherein most of the sectors are open to FDI under the automatic route. NRIs can make investment in India under various schedules of Foreign Exchange Management (Issue or Transfer of Security by a Person Resident outside India) Regulations, 2000 as amended from time to time. Investment under FDI Scheme contained in Schedule 1 of these Regulations, permits 100 per cent NRI investments, under the automatic route, in the sector of townships, housing, built-up infrastructure and construction-development projects (which include, but are not restricted to, housing, commercial premises, hotels, resorts, hospitals, educational institutions, recreational facilities, city and regional level infrastructure), without the conditionalities attached to FDI in such projects. It also grants a special dispensation for NRI investments in the sectors of Scheduled Air Transport Services/Domestic Scheduled Passenger Airlines, Non-Scheduled Air Transport Services, Ground Handling Services, wherein 100 per cent NRI investment is allowed under the automatic route.

Along with these, NRIs can also invest in share/convertible debentures of an Indian company under FDI scheme

shares/convertible debentures of an Indian company on both repatriation and non-repatriation basis under Portfolio

Investment Scheme (PIS), through registered broker or recognised Stock Exchanges in India. The individual limit

paid up value of each series of convertible debentures of an Indian company and aggregate limit for all NRIs taken together is one per cent of the paid up capital/paid up value of the company. This limit can be increased by the Indian company to 24 per cent by passing a Board resolution and special Annual General Meeting resolution. Apart from this, an NRI, barring certain sectors, according to Schedule 4 to

on non-repatriation basis shares/convertible debentures

of an Indian company whether by public issue or private placement or right issue.

NRI may, without limit, purchase on Repatriation basis, government dated securities (other than bearer securities) or treasury bills, or units of domestic mutual funds; bonds issued by a PSU in India; non-convertible debentures of a company incorporated in India; bonds/units issued by Infrastructure Debt Funds, Perpetual debt instruments and debt capital instruments issued by banks in India and shares in Public Sector Enterprises being dis-invested by the government.

government has extended some more facilities to NRIs. Banks are free to determine the interest rates on both savings deposits and term deposits of maturity of one year and above under the Non-Resident External (NRE) deposits and savings deposits under Non-Resident Ordinary (NRO) accounts. An NRE account is one which can be opened only by the non-resident himself and not through the holder of the power of attorney. Only NRIs can become joint account holders in the case of NRE account. On the other hand, NRO accounts may be held jointly with residents and/or with NRIs. Along with this, the banks may also sanction rupee loans in India or foreign currency loans outside India to either the account holder or third party to the extent of the balance in the NRE/ foreign Currency Non Resident (bank) account, subject to the margin requirements. To help NRIs to maintain FCNR deposits in other currency as well, since October 2011, FCNR (B) accounts have been permitted to be opened in any freely convertible currency. Moreover, NRIs are, since September 2011, are also eligible to open NRE/FCNR accounts with resident.

The government has also set up ‘Invest India’, a joint venture company between the Department of Industrial Policy and Promotion and Federation of Indian Chambers of

facilitator, for prospective overseas investors, to act as a structured mechanism for attracting investment. On the other hand, the Ministry of Overseas Indian Affairs has established Overseas Indian Facilitation Centre to facilitate potential NRIs and overseas corporate bodies of overseas Indians which want to invest in India. OIFC has organised several investment and interactive meets/roadshows in different countries. It has also organised ‘Market Place’ during the annual Pravasi Bharatiya Divas event in India. The annual and regional PBDs have also provided a platform for facilitation of investment by overseas Indians.

India’s manufacturing segment is a crucial cog in the wheel of economic progress; the sector’s contribution to the gross domestic product (GDP) being 16 per cent. With the passage of time post -1990 economic liberalisation era, India has well realised the importance of manufacturing for the overall industrial development. In this wake, the Government has also been very pro-active, especially during the last decade.

The recent initiative counts back to the Manufacturing Policy that was announced in 2010. It was followed by the introduction of a systematic Manufacturing Plan for the country, designed with extensive involvement of industry. Now India Inc and the Government are focussing their energies on implementation of this Plan.

Growth TrendThe HSBC India Manufacturing Purchasing Managers’

Index (PMI) - a measure of factory production - stood at 48.5 in August 2013.

Manufacturing: Key Developments and Investments

Vietnam to invest in their dynamic rubber sector. The South Asian nation intends to give a major boost to its rubber segment and has targeted to produce 1.2 million tonnes of rubber. Currently Vietnam consumes only 15 per cent of the more than 9 lakh tonnes of rubber produced in the country and aims to increase this domestic consumption to 40 per cent. Vietnam seeks Indian investments in this regard that would not only help scale up rubber manufacturing there, but will also strengthen bi-lateral business ties.

Rubber Pvt. Ltd. - has established India’s largest glove manufacturing unit to tap the surging demand of examination and surgical gloves. The new facility, to be fully operational within a couple of years, will produce 500 million pairs of gloves per annum. The total project cost has been estimated at Rs 150 crore (US$ 23.58 million).Indian surgical glove market is growing at 15 per cent while the demand for examination gloves has been rising by 20 per cent per annum. St Mary’s is the largest supplier of centrifugal latex under the brand Cenex, a crucial raw material for manufacturing rubber dipped goods like gloves, balloons, condoms and rubber bands.Mondelçz International’s Cadbury India, is planning to infuse over Rs 1,000 crore (US$ 157.24 million) in the

Pradesh. The project, to be developed under four phases,

The multi-category food facility will be the largest chocolate manufacturing plant in India and once completed, it is claiming to become a benchmark in

and community involvement.Direct marketing company Amway India has initiated work on its manufacturing facility at Nilakottai, near

facility, is scheduled to be completed by mid-2015.

(US$ 62.88 million) in this plant, which will have nine production lines for nutrition, cosmetic and oral-care products.

Manufacturing: Government InitiativesA high-level committee on manufacturing, led by Prime

Minister, Dr Manmohan Singh has stated that sustained growth in manufacturing segment is of highest priority for the economy to grow at 8-9 per cent. In order to boost domestic manufacturing, the committee has approved a proposal to make small civilian passenger aircraft indigenously.

The plan envisages an increase in steel production capacity to 300 million tonnes, a 30 per cent increase in textile exports, and domestic manufacturing capabilities in advanced materials, alloys and composites.

Meanwhile, the State Industries Promotion Corporation of Tamil Nadu (Sipcot) and the Tamil Nadu Industrial Development Corporation (Tidco) will be forming a joint-venture (JV) to set-up an industrial park for high-end plastic components manufacturing units in Chennai.

The total project cost is estimated to be around Rs 243 crore (US$ 38.2 million) and Tidco is seeking Rs 40 crore (US$ 6.29 million) grant from the Department of Chemicals and Petrochemicals, Government of India.

The industrial park will be equipped with infrastructural facilities for investors intending to set up medium and small-scale units for manufacturing high-end engineering plastics, auto components and machines for making such plastic products. Since Chennai is increasingly becoming a hub for such products, the new industrial park is expected

Also, in a bid to encourage growth of the electronics manufacturing sector and curb dependence on imported components, the Government has recently approved three projects worth Rs 200 crore (US$ 31.44 million) under the Electronic Manufacturing Clusters (EMC) scheme.

The investment proposals were sent by the Electronic Industries Association of India (ELCINA) and the Madhya Pradesh State Electronics Corporation (MPSEDC).

Road AheadMcKinsey & Company believes that Indian manufacturers

have started operating at par with their international counterparts. The country’s increasing manufacturing exports, coupled with economic expansion (at almost 7 per cent per annum) gives a golden chance to Indian manufacturers to demonstrate their mettle. The sector is well

supportive Government policies, availability of cost-effective labour and rising income levels.

It is estimated that rising domestic demand in India, along with the multinationals’ desire to enhance their footprint in

the sub-continent, could boost the country’s manufacturing sector to grow six-fold by 2025, to US$ 1 trillion, while creating up to 90 million domestic jobs. Also, owing to availability of massive workforce, a robust supply base, and access to natural resources needed in production (such as iron ore and aluminium for engineered goods, cotton for

poised to become a viable manufacturing hub across

utilised, India might even dominate some skill-intensive manufacturing sectors in the years to come.

6

The pleasantly rhythmical patter-patter of falling rain makes not only birds, animals and plants sway in unison with this blessing of nature, but it also soaks many a human heart with immense joy. It is the majestic peacock, the king of birds, who takes upon himself the duty of thanking the rain god by a splendid display of colourful plumage and an enthralling dance. The musical “pehu-pehu” and the electric quiver of its quills provide the magical notes. The peacock has thus been aptly crowned as the National Bird of India.

Man has always been fascinated by this beautiful bird. The

it religious beliefs, mythology, legends, folklore, art, music or literature. Its plumes have adorned the head of Lord Krishna and it is the vehicle (vahan) of Saraswati, the goddess of

there is an interesting account of Lord Indra taking the guise of a peacock to escape the wrath of the demon Ravana. Indra, in return, is said to have bestowed upon the peacock its heavenly plumage, beset with thousands of eyes, and the power to be the harbinger of rains and destroyer of snakes.

Western mythology also abounds in fables about the peacock. There is a myth that when the peacock was created, God was accused of favouritism by the Seven Deadly Sins for giving such beautiful colours to this bird. God, therefore, set the eyes of these ‘sins’ on its feathers, the colours of yellow, red and green being the eyes of envy, murder and jealousy. It is said that the sins still follow the bird to retrieve their eyes. It is, therefore, believed that sins also creep in wherever the feathered eyes are placed. Greek mythology believes that the mischievous Juno, wife of Jupiter, snatched the hundred eyes of the demon Argus and transplanted them on the peacock, her favourite pet.

place. Ancient Sanskrit literature is full of references to this enchanting bird and its close relationship to the

and dramatist Kalidasa composed his great works such as ‘Kumarsambbava’ ‘Meghdoota’, ‘Raghuvamsa’ and ‘Ritusamhara’ depicting an intimate bond in bliss or sorrow between the peacock and humans. In the subsequent masterpieces of literature of the medieval times, such as by Banabhatta, Bhavabhuti and Bharavi, the peacock continued to retain its special place.

age (from 2500 - 1500 B.C.) it has been proved that the peacock maintained an integral relationship with human society. The terracotta pottery and seals recovered from the Harappan sites depict the peacock motif used liberally.

rich in adornment by using this bird in sculpture, metallurgy,

It is the opulence of brilliant colours and the art of dotting with precious gems that has brought out the monumental Thanjavur paintings form the Hindu temples of South India to the modern art galleries – thus enriching the connoisseurs’ enviable collection.

Thanjavur paintings are the product of highly conservative South Indian civilization and are expression of the artists’ religious devotion. These were created to adorn the temple

walls. A typical Thanjavur painting depicts a sacred Hindu deity.

It is gilded and beset with precious and semi-precious stones.

and robust with mounted chins and chubby cheeks. Though gold is the basic binding colour, the colour schemes are

often rigid with the usage of pure colours and no allowance is given for any colour mixing to create shades. Red and blue or red and green combination are common. Body colours are generally white or yellow. Thanjavur paintings are large sized and are usually framed. Some of them are as large as murals and are meant to be viewed from a distance.

The iconic paintings are usually done on wooden planks of a jack tree. To this wooden base is mounted a card-board sheet with a special glue made from tamarind seeds. Over this card-board, layers of cloth are pasted. A lime paste is then repeatedly coated on the surface and is smoothened with a polished stone or a shell. Sketching is done with a brush on the smoothened surface and the gold foil or gems are stuck on the drawing with the help of an adhesive paste made by adding glue to the unboiled lime-stone, ground

to bring the surface to one plane and to render more support to the embedded gold foils, gems and coloured glass pieces. Colouring of the rest of the details is done in the last to

Peacock - NATIONAL BIRD OF INDIA

The art of Thanjavur Painting

from Greek and Roman sites also bear testimony that peacocks were reared and loved by the people in these ancient civilizations.

The peacock is known by many names in India. Its common name ‘Mayur’ has been derived from Sanskrit. It means ‘killer’ - the killer of snakes. In northern India, it is known as ‘Mor’. For its blue neck, it is also known as ‘Neelkantha’ (Blue Necked One). This colour is linked to snake venom which turns the body bluish.

The peacock has been domesticated due to its attractive external features. But it is equally abhorred as a pest by the farmers. In the words of Aristotle, “They are pestilent

things in gardens, doing a world of mischief.’ About two centuries ago, the peacock was introduced on St. Helena Island as a fancy bird. It soon bred to such huge proportions and created havoc for gardens and orchards that a war was declared against it.

The blue peacock, Pavo Cristatus (linnaeus), found mainly in India and Sri Lanka, is the size of a swan and is the most colourful among the well-known species of this bird. It has a fan-shaped crest of feathers on its head, a white patch under the eye, a long, slender blue neck and a spectacular bronze-green train of about 200 elongated feathers. The green one is known as the Burmese Peacock and is largely found

in Myanmar and other parts of South Asia. The Ethiopian species has a double crest. The peacock has two other breeds – the fully white one and the pied one. Due to its

meters or so at a stretch. The female of the species is less attractive, with a dull brown colour and no train of feathers. However, she has the same crown on her head. It lays four to six eggs at a time, which incubate in about four weeks.

The peacock is not merely an object of beauty but has its own importance in the eco-system. It is protected under the Indian Wildlife Act (1972).

By Bimal Saigal

Among the relatively less popular but exotic styles of Thanjavur paintings are murals portraiture, painting on glass, ivory, leather, mica and playing cards and the painted wooden shrines. But it is the iconic paintings from Thanjavur which have generated much interest for centuries not only in India but world-wide.

These gilded icons which once radiated a glow on the serenity of the dimly lit shrines and inspired faith in devout Hindus are still mesmerizing a new-cult of admirers of this art cutting through the barriers of religion.

By Bimal Saigal

7

Introduction

capacity and demand is expected to surge in the coming years owing to growth in the economy. The power sector is high on India’s priority as it offers tremendous potential for investing companies based on the sheer size of the market and the returns available on investment capital.

sectors in the world. Power in India is generated from commercial sources like coal, lignite, natural gas, oil, hydro and nuclear power as well as other viable non-conventional sources like wind, solar, agriculture and domestic waste. The demand for electricity in the country has been growing at a rapid rate and is expected to increase further in the years to come. In order to meet the increasing requirement of electricity, massive addition to the installed generating capacity in the country is required.

The country offers unlimited growth potential for solar photovoltaic (PV) industry as well. India is endowed with vast potential of solar energy and is quickly developing itself as a major manufacturing hub for solar power plants. Besides, it is expected that, the annual PV-installed capacity will grow at a compound annual growth rate (CAGR) of around 49.5 per cent during 2010-2014 to reach 1,500 megawatt (MW) by the end of 2014, according to RNCOS research report titled, ‘Indian Solar Energy Market Analysis’.

Market SizeElectricity production in India stood at 911.6 terra

watt hour (TWh) in FY13, a four per cent growth over

has expanded at a CAGR of 5.5 per cent. The Planning Commission’s 12th Plan projects that total domestic energy production would reach 669.6 million tonnes of oil equivalent (MTOE) by 2016–17 and 844 MTOE by 2021–22.

As of April 2013, total thermal installed capacity stood at 151.7 gigawatt (GW), while hydro and renewable energy installed capacity totalled 39.6 GW and 27.5 GW, respectively. Nuclear energy capacity remained broadly constant from that in the previous year, at 4.8 GW. For the 12th Five-Year Plan, a total of 88.5 GW of power capacity addition is targeted, of which 72.3 GW constitutes thermal power, 10.8 GW of hydro power and 5.3 GW of nuclear power. The capacity addition target for 2013–14 is 1,198

MW of hydro power, 15,234 MW of thermal power and 2,000 MW of nuclear power. Total capacity target is 18,432 MW.

InvestmentsThe investment climate is very positive in the power

sector. Due to surge in the sector, the power sector has

Ministry of Power has set a target for adding 76,000 MW of electricity capacity in the 12th Five Year Plan (2012-17) and 93,000 MW in the 13th Five Year Plan (2017-2022).

The industry attracted foreign direct investment (FDI) worth Rs 37,335.68 crore (US$ 6.01 billion) during April 2000 to July 2013.

Some of the major investments made into the Indian power sector are as follows:

Welspun Energy Ltd has launched a 55 MW solar plant in Rajasthan. The Rs 500 crore (US$ 80.60 million) project is stated to be Asia’s largest single-location solar plantSterlite Grid has commissioned a 23 km 400 kilo volt (KV) double-circuit quad transmission line connecting Purnia and Bihar Sharif district substations in Bihar, with an investment of Rs 500 crore (US$ 80.60 million)NHPC Ltd plans to take over private hydropower projects and is ready to invest equity worth Rs

yearsSuzlon Energy has won orders to supply wind turbines totalling 48 MW from French energy company Valorem

Energy Ltd (SEL) for a 2.1 MW offsite windmill installation, to generate renewable power for captive consumption at its Ankleshwar manufacturing siteGE Energy Financial Services India has invested Rs 257 crore (US$ 41.43 million) in the hydropower project developed by Gati Ltd in Sikkim

Government InitiativesThe Government of India has set a target to generate

10,000 MW of power through solar energy by 2017. The Phase I of the Jawaharlal Nehru National Solar Mission has been very successful, wherein 1,685 MW of solar power was generated, said Dr Farooq Abdullah, India’s Minister for New and Renewable Energy.

In order to attract foreign investments in the power sector, FDI up to 100 per cent is permitted under the automatic route for projects of electricity generation (except atomic energy), transmission, distribution and power trading.

India has offered to help Cuba develop its renewable energy resources. The offer was made during Dr Farooq Abdullah’s visit to Cuba in September 2013, along with a high level delegation of experts to explore greater opportunities for cooperation and collaboration.

Under the Union Budget 2013-14, the Government plans

Power Sector in India - Renewable Energyto construct a transmission system from Srinagar to Leh at an investment of Rs 1,840 crore (US$ 296.63 million).

Some of the initiatives taken by the Government of India to boost the power sector are:

national grid, the Government of India plans to roll out Rs 43,000 crore (US$ 6.93 billion) ‘green energy corridor’ projectMinistry of Power and Ministry of Water Resources has drawn up a framework for speedy technical clearances to power projects by Central Electricity Authority (CEA) and Central Water Commission (CWC)The Government of India plans to set up 4,000 MW of solar thermal power capacity in Jaipur, Rajasthan. India strengthened its ties with Iraq in the energy sector. A formal Memorandum of Understanding (MoU) on cooperation in the sector was signed during the four-day visit of the Prime Minister of Iraq, to India in August 2013.Hydro Projects worth 2,500 MW across various states have been given clearance by the Forest Advisory Committee (FAC) and Ministry of Environment and Forest (MoEF)

Road AheadRenewable energy is fast emerging as a major source

of power. Wind energy is the largest source of renewable energy in India; it accounts for an estimated 87 per cent of total installed capacity in renewable energy. The country aims to increase the importance of wind power even further;

there are plans to double wind power generation capacity to 20 GW by 2022.

Biomass is the second largest source of renewable energy, accounting for 12 per cent of total installed capacity in renewable energy. There is strong upside potential in

biomass in the coming years.Solar energy accounts for one per cent of total renewable

energy installed capacity. However, the share is not indicative of the country’s true potential, which stands at an estimated 5,000 TWh per annum.

A long chiselled nose, little quivering lips, tranquilising lotus eyes, bow-shaped eyebrows and a broad forehead on an elliptical fair face supported by a cylindrical tender neck. This is the “Radha Kishangarh”, a historical personality of the 18th century, immortalized by an unknown miniature artist of the Kishangarh School of Art in Rajasthan, India. Christened as ‘Bani-thani ki Chavi’ (image of a well made-up belle) this miniature portrait of a royal singer displays

of art is known as the “Mona Lisa of India”. Such a fascinating work of art remained buried in

anonymity for nearly two centuries till it was brought to light in 1943 from the darkness of the royal ‘toshakhana’ (repository of precious articles). Only after it was evaluated in glowing terms by renowned art critics that this painting received world-wide appreciation and its deserving place among the best art creations of the world. This 18th century painting is the high point of the Kishangarh School of Art in Rajasthan. The Kishangarh State near Ajmer developed a special style of painting under the patronage of the rulers of the time, which came to be known as the Kishangarh style. This painting is a tribute to a love-story -the passion of King Sawant Singh for a talented and beautiful commoner. Sawant Singh was no ordinary ruler. Apart from being a caring administrator, he had a well-gifted, romantic and

poet and a linguist. He mastered Hindi, Sanskrit and Persian languages and composed about 75 verses under the pseudonym of ‘Nagridas’. His compositions like Utsav Mala, Bihari Chandrika, Rasik Ratnavali and Grisham Vihar are cherished even to this day. A collection of his poetry, compiled under the title ‘Nagar Samuchaya’, became very popular.

Sawant was a prince when his step-mother Bankawat Ji visited the Moghul court at Delhi. She was so impressed by the golden voice and singing abilities of a teen-aged girl in the royal court of King Mujammad Shah Rangila that she

took her in own personal service and brought her along. The girl, then at the prime of her teen-aged youth, not only wooed the hearts of all those who were ever privileged to listen to her devotional songs, but also mesmerised those who saw her shimmering self, covered with generous make-up and tasteful adornations from the forehead down to the toes. It was her fancy with the make-up that earned her the title of ‘Bani Thani Ji’. The physical charm and the traits of similar artistic frame of mind swayed the young Sawant Singh, who was already married by then to the daugther of King Jaswant Singh of the Bhavnagar State.

Sawant’s intense love for the singer faced tough resistance from every possible quarter and he was frustrated to such an extent that he gradually lost all interest in governance

Finally, in 1757, he abdicated his kingdom and moved on to the holy place of the Hindus - Brindavan - with his beloved. While enjoying each other’s company, both composed and sang holy hymns.

Bani Thani also sharpened here her poetic skills and wrote verses with the pseudonym ‘Rasik Bihari’ and rendered these in her golden voice to add to the fervor of

the assembled devotees. Inspired by these very verses the artists of the state created miniature paintings embodying their popular king and his paramour as the divine couple. While at Brindavan, ‘Bani Thani’ breathed her last in 1763. Such was the shock of her separation that Sawant Singh also left this world to join her only a year later in 1764. They have left behind a love story which is remembered and told till date in households of Rajasthan. In ‘Radha Kishangarh’ is immortalised an un-crowned queen of the people’s heart.

By Bimal Saigal

8

Radha Kishangarh: The Mona Lisa of India