Saturday, April 26, 2025

Tamil Nadu Expands Aadhaar Services, Promotes Digital Transformation Through E-Services

CHENNAI:

In a bid to enhance public access to key government services, Tamil Nadu's Information Technology and Digital Services Minister, Dr Palanivel Thiagarajan, announced a series of digital initiatives on Friday, including the expansion of Aadhaar Enrollment Centers and the integration of e-Services with WhatsApp.


During an address to the state assembly, Dr Thiagarajan revealed that the Tamil Nadu Electronics Corporation (ELCOT) would establish an additional 50 Aadhaar Enrollment Centers. These new centers will be strategically located across local government offices, complementing the existing 266 centers already operational across the state. This initiative aims to streamline the enrollment process for millions of residents and improve the accessibility of Aadhaar services, which have seen over one crore transactions last year alone.


The expansion is part of the state’s broader efforts to leverage technology for governance, with ELCOT at the forefront. The corporation has already set up Aadhaar registration facilities in various administrative hubs, including district collector offices, municipal headquarters, and rural development offices. The move is expected to further widen the reach of Aadhaar-related services, ensuring more Tamil Nadu residents can conveniently access critical government services.


In parallel, the state is embracing digital administration through the integration of e-Services into WhatsApp. This new initiative, part of the government’s “e-Services” project, aims to provide easy access to over 260 government services via the widely used messaging app. In its first phase, 50 services will be available, including utility bill payments and citizen services. The government has earmarked Rs. 3.85 crore for the project, which will reduce the need for physical visits to e-Service Centers and offer faster, more cost-effective solutions for the public.


“We are committed to using technology to bridge the gap between government services and the people,” Dr. Thiagarajan remarked. “This integration with WhatsApp is a significant step toward making government services more accessible and user-friendly.”


Alongside these developments, the state government is also focusing on strengthening welfare program delivery through enhanced security measures. A new e-KYC (Know Your Customer) platform will be rolled out to streamline beneficiary identification processes for Aadhaar-linked welfare schemes. The platform will employ biometric authentication methods—such as facial recognition, fingerprints, and iris scans—to ensure secure and efficient identity verification for services ranging from senior citizen pensions to health insurance schemes.


In an effort to preserve Tamil culture and history, the Tamil E-Library will undergo a significant upgrade. The project, backed by Rs. 50 lakh in funding for 2025-26, will digitize rare audiovisual materials, such as historical documentaries and speeches, creating a multimedia archive for future generations. The expanded library will not only include traditional texts but also incorporate visual and auditory records of Tamil history, politics, and society.


In line with its commitment to modernizing Tamil language education, the state government will also offer training in language technologies to students of Tamil literature and linguistics. Under the "I am the Chief Minister" scheme, these students will learn tools like Natural Language Processing (NLP) and speech recognition, enhancing their ability to integrate traditional Tamil knowledge with cutting-edge technology.


Th state is also preparing to launch a new initiative designed to foster innovation in deep-tech and advanced hardware manufacturing. The "Deep Tech Hardware Product Design Scheme" will provide startups with up to 75% funding for product development, helping to position the state as a hub for high-tech manufacturing. This initiative will be supported by the iTNT hub, a key component of the state’s broader push for technological innovation.


Laptop scheme to be rolled out through Elcot: Data Purity to identify beneficiaries


CHENNAI:
The Ministry of Information Technology and Digital Services will roll out a laptop scheme, providing 10 lakh laptops to college students through ELCOT, Minister Dr. Palanivel Thiaga Rajan announced.

Finance Minister Thangam Thennarasu allocated Rs 2,000 crore in the 2025-26 budget to provide laptops and tablets to 20 lakh students over the next two years.

In a policy note, the minister emphasized that Data Purity would play a key role in identifying beneficiaries for these initiatives.

Additionally, the ministry has digitized around 41 lakh government files under its e-office initiative, enabling 1.5 lakh government employees to carry out their duties digitally, reducing reliance on paper and improving operational efficiency. “This is a significant step toward enhancing government operations,” the minister said.

The minister said his ministry aims to complete its ambitious optical fiber project by the end of this year, with 93% of the work already finished. The project, led by Tamil Nadu FibreNet Corporation Limited, involves laying 57,500 km of optical fiber to connect 12,525 villages with 1 Gbps bandwidth.

Despite delays of over 1.5 years under the previous administration, fiber has already been installed in 11,639 villages. The project has been divided into four packages, two of which are nearly complete. To date, around 2,000 government offices have been connected, and the state’s minister has assured that efforts are being made to ensure the network’s efficient operation and uptime.

The government is also providing internet services to all Tamil Nadu government offices via TANFINET, with plans to extend the service to the public. For last-mile connectivity, a model similar to cable TV operators will be used, where internet providers, acting as franchisees, will offer services via the fiber network. So far, 4,700 panchayats have applied for this service.

The minister expects high-speed internet, offering speeds of up to 100 Mbps at ₹200 per month, to be available to households within a month. “This initiative, which brings high-speed internet to every village, is a significant step toward social justice,” he said, adding that access to such services is vital for educational opportunities and social equality.

South Tamil Nadu's Industrial Boom: A Transformative Growth Story


CHENNAI:
South Tamil Nadu, once a region largely associated with agriculture, is now experiencing an industrial renaissance, with investments pouring into the region at an unprecedented rate. According to Industries Minister Dr. TRB Rajaa, a significant 30.32% of the total investments into Tamil Nadu over the last four years have been earmarked for the southern districts, including Thoothukudi and Tirunelveli, marking the region’s emergence as a major industrial hub in the state.

At the heart of this transformation is the influx of both domestic and international investments, highlighted by the arrival of Vinfast, the Vietnamese electric vehicle giant, which is building the Rs 4,000 crore EV factory; Singapore based Sembcorp  which is building 36,238 crore Green Hydrogen project in Thoothukudi for which foundation stone was laid by Chief minister;  the 4.3-GW solar cell and module manufacturing plant of TP Solar Ltd, a subsidiary of Tata Power Renewable Energy Ltd, at Gangaikondan SIPCOT in Tirunelveli district; and  Vikram Solar which is investing of ₹2,574 crore for a a 3 GW solar cell capacity and a 6 GW module capacity.

One of the standout projects is the Vinfast plant in Thoothukudi. When the company first showed interest in the region, there were concerns about the availability of skilled labor. However, local leaders, including DMK party;s senior leader Kanimozhi, reassured Vinfast that Tamil Nadu boasts a vast pool of talented youth. The state is also taking proactive measures to nurture this talent through initiatives like the Naan Mudhalvan scheme, which has already trained 344 diploma students at local polytechnic colleges. Of these, 200 have been assured employment at the Vinfast plant.

The state's investment in skill development has made a direct impact on the region’s workforce. “Through our schemes, we are not only creating jobs but also ensuring that these workers are highly skilled, which is a crucial advantage for industries like Vinfast that require technical expertise,” Rajaa emphasized.

Rajaa noted that since 2021, Tamil Nadu has secured investments worth ₹10,27,547 crore, with 897 Memoranda of Understanding (MOUs) signed, of which 722 have already been converted into tangible projects. These projects have begun to take shape, with production lines in operation and new facilities being set up.

The ambitious vision of the state government, exemplified at the 2024 Global Investors Meet (GIM), has yielded impressive results. At the meet, agreements valued at ₹6,64,180 crore were signed. Typically, in India, the conversion rate from MoUs to actual investments hovers between 25 to 30 percent. However, Tamil Nadu has defied these norms, achieving an extraordinary conversion rate of 72% — far surpassing even the initial target of 50%.

“I had predicted last year that we would exceed 50%, and we went beyond that — to 60%. When I shared this with our Chief Minister, he asked, 'When will we reach 70%?' I assured him it would be soon. Today, we have surpassed even that milestone,” said Rajaa.

This surge in industrial investment is not just about numbers. It signals a broader shift in Tamil Nadu’s economic landscape, positioning the state as a leader in high-tech manufacturing. In particular, the state has emerged as a dominant player in the electronics export sector. In 2024, Tamil Nadu contributed 41.23% of India's total electronic exports, a staggering $14.65 billion.

As Rajaa pointed out, the state's strengths have traditionally been in sectors like textiles, automobiles, and leather. However, Tamil Nadu is now leading the charge in the high-tech manufacturing space. This evolution is underscored by the establishment of cutting-edge semiconductor parks in Coimbatore and the rapid progress of projects like a grand tidal park in Madurai and a footwear park in Melur.

Beyond the automotive and high-tech sectors, the textile industry in Coimbatore is also thriving. Rajaa pointed to the recent achievement in Tirupur, where textile exports surpassed ₹40,000 crore in the past year. However, the industry continues to face challenges in labor availability, particularly in garment manufacturing. To address this, the industry is actively engaging with associations and leveraging platforms like SIPCOT to find sustainable solutions.

writingonblog uncensored: Taiwanese Industrial Park Anchors Tamil Nadu’s Pus...

writingonblog uncensored: Taiwanese Industrial Park Anchors Tamil Nadu’s Pus...: CHENNAIL  Tamil Nadu has unveiled a dedicated Taiwanese Industrial Park near Chennai as the southern Indian state seeks to cement its role a...

Taiwanese Industrial Park Anchors Tamil Nadu’s Push for East Asia-Focused Manufacturing Growth



CHENNAIL

 Tamil Nadu has unveiled a dedicated Taiwanese Industrial Park near Chennai as the southern Indian state seeks to cement its role as a manufacturing hub for electronics, textiles, and consumer goods.


The park, built to international standards, is expected to attract ₹10,000 crore in investment and generate around 20,000 jobs. Designed to serve as a base for companies in electronic components, technical textiles, and footwear parts, the park is a cornerstone of Tamil Nadu’s strategy to integrate into East Asian supply chains.


“Taiwanese investment already forms a critical part of the state’s FDI profile,” said Industries Minister Dr T.R.B. Rajaa. “This park is designed to support their vendors and bolster long-term manufacturing commitments in the region.”


The move comes alongside a major expansion by South Korea’s Samsung Electronics, which announced a ₹1,000 crore investment in its existing manufacturing facility in Sriperumbudur. The investment is expected to create at least 100 additional jobs and reinforces the company’s confidence in the local ecosystem, despite recent worker unrest at the plant.


Dr Rajaa acknowledged the earlier tensions, suggesting that rival states attempted to exploit the protests to attract the investment elsewhere. “However, it was only due to the proper handling of this issue by the Chief Minister that the workers returned to their jobs,” he said.


The state’s efforts to internationalize its investment outreach are also picking up pace. Tamil Nadu will open Guidance Desks in the United States, Germany, South Korea, and Vietnam to facilitate investor engagement, site selection, and regulatory navigation.


At the domestic level, the government announced a slew of new industrial developments aimed at decentralizing growth beyond the established corridors. New SIPCOT industrial parks are planned in Kallakurichi, Tenkasi, Sivagangai, Vellore, and Tirupattur, with a combined investment potential of over ₹2,400 crore and more than 22,000 new jobs.


Tirupattur will also host a non-leather footwear manufacturing park with a projected investment of ₹250 crore, aimed at boosting women's employment. In Nagapattinam, a mini TIDEL Park is expected to create 600 jobs in the IT sector, bringing technology-led development to the under-industrialized coastal district.


To support textile manufacturing, five “Plug & Play” parks, including ones in Tiruvarur and Thoothukudi, will be established in collaboration with industry bodies. Infrastructure investments include a ₹380 crore treated water supply project for Thiruvallur’s industrial clusters and ₹120 crore for housing 2,000 industrial workers in Kancheepuram’s high-density zones.


In a bid to enhance investor experience, the state’s investment promotion agency, Guidance, will launch an AI-enabled multilingual web portal with data analytics and virtual walk-throughs of industrial parks.


Meanwhile, policy support for micro, small and medium enterprises (MSMEs) continues, with the Tamil Nadu Industrial Investment Corporation waiving inspection fees for term loans this fiscal year—expected to benefit about 1,300 enterprises. Sector-specific initiatives include a proposed seafood export park in Thanjavur, with a ₹200 crore investment and 2,000 jobs.


To further professionalize its industrial zones, SIPCOT will establish a new architecture and landscaping unit and construct modern administrative buildings in Dharmapuri and Thiruvallur.

writingonblog uncensored: Tamil Nadu Accelerates EV Ambitions with Infrastru...

writingonblog uncensored: Tamil Nadu Accelerates EV Ambitions with Infrastru...: C Shivakumar @ CHENNAI: As India positions itself for a green transport revolution, Tamil Nadu is moving swiftly to cement its leadership in...

Tamil Nadu Accelerates EV Ambitions with Infrastructure Push Amid National Policy Shift

C Shivakumar @ CHENNAI:

As India positions itself for a green transport revolution, Tamil Nadu is moving swiftly to cement its leadership in the electric vehicle (EV) sector by launching  its first high-level workshop on EV infrastructure — a move that highlights both strategic foresight and a pragmatic response to emerging national policy shifts.

The workshop, convened under the auspices of Pallavan Transport Consultancy Services — recently designated as the nodal agency for the initiative — represents a significant milestone in the state’s clean mobility roadmap. It also comes at a time when the central government’s ₹10,000 crore PM e-DRIVE scheme is poised to reshape the national landscape for EV charging infrastructure.

T. Prabhushankar, Managing Director of Pallavan Transport Consultancy Services detailed how the workshop aimed to operationalise Tamil Nadu’s EV ambitions. “This is about building the backbone for a statewide charging network, particularly around the PM e-DRIVE Public Charging Station initiative,” he said, pointing to the importance of cross-agency alignment, including land authorities and regulatory entities such as TANGEDCO.

The workshop was not merely a planning session but an attempt to forge consensus among stakeholders ranging from Charge Point Operators and Original Equipment Manufacturers to policy regulators and land-owning departments. Their collective input is expected to inform a soon-to-be-finalised implementation framework — one that will likely be deployed ahead of the Centre’s finalised national guidelines.

At the centre of this policy recalibration is the Union government's vision to deploy over 72,000 EV charging stations nationwide. Tamil Nadu, with its early-mover advantage, is positioning itself to capture a disproportionate share of the associated central funding. Of the ₹10,000 crore earmarked for the national rollout, ₹2,000 crore has been set aside for public charging infrastructure alone.

In an important structural shift, the state has formed a high-level steering committee chaired by the Chief Secretary. The body includes senior officials from the departments of transport, energy, finance, and urban development — a nod to the interdepartmental complexity of building EV infrastructure at scale. This committee will vet proposals and oversee implementation, helping Tamil Nadu tap into central subsidies that can cover up to 80% of infrastructure costs for specific categories of chargers.

The state’s ambition to become a clean mobility hub also dovetails with a broader industrial policy realignment. The rebranding of Pallavan Transport Consultancy Services to the Tamil Nadu Mobility and Logistics Corporation marks a symbolic expansion of the state's transport vision, from legacy bus services to a wider remit that includes EV logistics, infrastructure, and sustainable mobility solutions.

While most Indian states are still calibrating their response to the evolving national policy environment, Tamil Nadu appears intent on racing ahead. It already hosts a growing cluster of EV manufacturers and component suppliers — a foundation that policymakers are now leveraging with infrastructure development.

The state’s swift mobilisation could offer a template for others. Rather than waiting for federal clarity, Tamil Nadu is hedging early with its own framework — a move that could pay dividends not only in federal funding but also in investor confidence.








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Sunday, April 20, 2025

writingonblog uncensored: Tamil Nadu Cabinet clears Space Policy to Attract ...

writingonblog uncensored: Tamil Nadu Cabinet clears Space Policy to Attract ...: CHENNAI: rawing inspiration from Florida’s famed Space Coast, the Tamil Nadu government has unveiled a policy to establish a ‘Space Bay’ acr...

Tamil Nadu Cabinet clears Space Policy to Attract ₹10,000 Crore Investment and 10,000 Jobs


CHENNAI:
rawing inspiration from Florida’s famed Space Coast, the Tamil Nadu government has unveiled a policy to establish a ‘Space Bay’ across four southern districts—Madurai, Thoothukudi, Tirunelveli, and Virudhunagar. The initiative aims to attract ₹10,000 crore (approx. $1.2 billion) in investments over the next five years and generate 10,000 jobs.

Addressing reporters after the Cabinet meeting that approved the Tamil Nadu Space Industrial Policy, 2025, Minister Rajaa stated that the policy is designed to equip young people with industry-ready skills.

At the heart of this strategy is the upcoming Kulasekarapattinam spaceport, currently under construction. The facility, being developed by the Indian Space Research Organisation (ISRO), is expected to focus on launching small satellites—an increasingly vital segment in the global space economy. Building on this development, Tamil Nadu’s Space Industrial Policy outlines an ambitious framework to foster a robust regional space ecosystem.

Minister Rajaa added that the policy will reimburse 50% of the expenditure incurred by firms during the investment period for activities such as registering patents, copyrights, trademarks, and geographical indicators.

Citing the example of India’s first 3D-printed rocket, Agnibaan, launched by IIT Madras startup Agnikul Cosmos, he said that startups and companies with an annual turnover of ₹25 crore or less will be eligible to participate in the space ecosystem. The Tamil Nadu government will offer financial support to space startups undertaking projects within the state.

Additionally, space sector projects exceeding ₹300 crore will be eligible for a Special Structured Package of Incentives, as per the Tamil Nadu Industrial Policy for Sunrise sectors.

Importantly, the state's policy aligns with the Government of India’s Indian Space Policy 2023, which has paved the way for private enterprise in space exploration and services. While ISRO continues to spearhead major missions, the central government is increasingly leveraging the capabilities of startups and private firms to boost innovation and reduce costs—creating a competitive environment in which states like Tamil Nadu are positioning themselves as key players.

writingonblog uncensored: Modest Rate Cut Ignites Hope Among Cost-Conscious ...

writingonblog uncensored: Modest Rate Cut Ignites Hope Among Cost-Conscious ...: C SHIVAKUMAR @ CHENNAI Ganpat Singh Meena has spent nearly a decade renting in Chennai. Now, with interest rates nudging lower, the 40-year-...

writingonblog uncensored: Chennai’s Real Estate Surge Signals New Urban Grow...

writingonblog uncensored: Chennai’s Real Estate Surge Signals New Urban Grow...: C SHIVAKUMAR @ Chennai Chennai’s residential real estate market has kicked off 2025 with notable momentum, as both buyers and developers bet...

Chennai’s Real Estate Surge Signals New Urban Growth Axis

C SHIVAKUMAR @ Chennai


Chennai’s residential real estate market has kicked off 2025 with notable momentum, as both buyers and developers bet on the city’s evolving infrastructure and commercial promise. Housing sales rose by 10% year-on-year to 4,357 units in the first quarter, with new supply climbing 5% to 4,576 units, according to data shared with The New Indian Express.


The southern metropolis is emerging as a balanced urban growth centre, where end-user demand, policy support, and investor interest are beginning to align.


“The market has maintained a steady rhythm in the first quarter, which suggests momentum will likely continue through the rest of the year,” said Srinivas Anikipatti, Executive Director for Tamil Nadu and Kerala at Knight Frank India. He cited robust commercial leasing—particularly from global capability centres (GCCs) and co-working operators—as a leading indicator of Chennai’s strengthening appeal as a business hub.


Indeed, office activity has paralleled the housing market’s performance. Chennai registered 2.6 million square feet of office leasing in Q1, contributing 10% of India's total leasing activity in green-certified office spaces, per CBRE. Tech, FMCG, and flexible workspace players led demand.


Corridors of Change


Mount Poonamallee Road (MPR) and Pallavaram-Thoraipakkam Road (PTR) have emerged as dual engines of growth, transforming into key commercial corridors. In 2024, these micro markets accounted for 6,000 residential unit launches—about 30% of the city’s total—underscoring their strategic importance.


“PTR is quickly gaining traction,” said VS Sridhar, Executive Managing Director, Tamil Nadu & Kerala, and Head of GCC Advisory-Operations at Cushman & Wakefield. “Together, MPR and PTR accounted for one-third of Chennai’s leasing activity last year, and they are expected to deliver nearly 60% of future office supply over the next two years, with a strong pipeline of Grade A+ office space.”


These corridors are also catalysing residential growth in surrounding neighbourhoods like Manapakkam, Porur, Pallikaranai, and Medavakkam—driven by improved connectivity, available land, and access to employment hubs. Residential prices have followed suit, rising 7% year-on-year to an average of ₹4,854 per square foot, reflecting both stable demand and disciplined supply.


Infrastructure, Affordability and Broader Access


Chennai’s residential demand, while robust, remains grounded in end-user affordability, Anikipatti noted. Ongoing infrastructure investments—especially new metro lines and the Tamil Nadu government’s Grid of Roads initiative—are extending the urban envelope, unlocking development potential in previously underinvested areas.


This decentralised growth pattern is evident in rising interest across north and west Chennai. While southern zones like Velachery and Tambaram remain popular, areas like Manali, Korukkupet, Ambattur, and Avadi are gaining traction, suggesting a maturing market with more geographically distributed demand.


Central business districts such as T. Nagar and Nungambakkam continue to command premium values. However, Chennai’s future lies in its ability to foster inclusive urbanisation, spreading growth beyond its historic heartlands.


The Confederation of Real Estate Developers’ Associations of India (CREDAI) projects 20–25% growth in residential real estate nationwide in 2025, fuelled by a combination of infrastructure upgrades, credit availability, and aspirational urban migration. Chennai is expected to mirror, if not outpace, this trend, particularly with the expected acceleration in new supply across emerging corridors.


Over 19,000 units were registered in 2024 across 182 projects under the Tamil Nadu Real Estate Regulatory Authority (TNRERA). CREDAI anticipates a 15–20% increase in launches this year, spurred by newly accessible land parcels and regulatory clarity.


Calls for Inclusive Growth


While the overall trajectory is positive, developers are urging the state government to do more to support homeownership, particularly among women. CREDAI has advocated for stamp duty concessions for female buyers—similar to those offered in Maharashtra—as part of a broader push for gender-inclusive housing policy.


Sridhar believes the momentum in the office sector will also help underpin residential demand. “GCCs continue to dominate the city’s leasing activity, accounting for 42% in Q1-25, up from the two-year average of 32%. These tenants are increasingly choosing emerging corridors for their affordability and scalability.”


Anshuman Magazine, Chairman & CEO of CBRE India, noted that Chennai, alongside Pune, is becoming a preferred destination for global tenants thanks to its talent base and infrastructure readiness. “India’s office sector is on a firm footing, and cities like Chennai are well-positioned to ride the next wave of strategic expansion.”


With both commercial and residential segments growing in tandem, Chennai is fast shedding its conservative real estate reputation, making a strong case for itself as one of India’s most dynamic urban property markets.


EOM


Modest Rate Cut Ignites Hope Among Cost-Conscious Homebuyers

C SHIVAKUMAR @ CHENNAI


Ganpat Singh Meena has spent nearly a decade renting in Chennai. Now, with interest rates nudging lower, the 40-year-old central government employee believes the moment has come to make the leap from tenant to homeowner. “I’m looking for a 2BHK or 3BHK within 5km of Anna Nagar,” says Meena, who is prepared to pay an EMI of ₹45,000—almost double the ₹25,000 he currently pays in rent.

Meena is not alone. For a growing cohort of aspiring homeowners, particularly in urban India’s mid-income segments, the Reserve Bank of India’s recent 25-basis-point cut to the repo rate is being seen as a cue to act. In a market where home affordability is tightly linked to the cost of borrowing, even modest shifts in rates can recalibrate purchasing power.

“The rate reduction is a welcome development for the residential real estate market,” says Anshul Jain, India CEO at Cushman & Wakefield. “It will boost sentiment among mid-segment homebuyers, who constitute the bulk of the housing demand.”

Though incremental, the cut signals the RBI’s intent to maintain a pro-growth bias while keeping inflationary risks in check. For lenders, it reduces the cost of capital. For borrowers, it lowers equated monthly instalments (EMIs)—a direct incentive to take on or expand home loans. For developers, especially those battling input cost inflation and regulatory pressures, the move offers breathing room and potential demand-side traction.

In cities like Chennai, where demand remains robust but affordability remains tight, the impact could be meaningful. A ₹50 lakh home loan over 20 years, for instance, would see its monthly EMI fall from ₹44,986 to ₹43,391 if the interest rate drops from 9% to 8.5%. That ₹1,600 monthly saving aggregates to over ₹3.8 lakh over the life of the loan—a substantial gain in a value-conscious market.

Banks are already responding. Tamilnad Mercantile Bank CEO S. Nair described the rate adjustment as “a significant opportunity” for first-time buyers. “Lower EMIs make home ownership more attainable for young professionals and families with moderate incomes,” he said. “For a ₹25 lakh loan over 20 years, borrowers could save nearly ₹1 lakh in total payments.” Nair added that existing borrowers with floating-rate loans should contact their banks to understand how and when the changes would affect their EMIs.

From the supply side, developers sense an opening. “Reduced borrowing costs for developers will also help projects run more smoothly and may even speed up new construction,” said Ashish Bhutani, CEO of Bhutani Infra. He added that the rate cut arrives at a time when broader global factors could also steer capital into Indian property.

“Trade shifts like the United States’ 26% tariff on Indian goods could prompt NRIs to re-evaluate their investment strategies,” Bhutani said. “NRI investments have already surged in the luxury and commercial real estate segments. These tariffs may accelerate that trend, with real estate offering a stable and potentially rewarding asset class back home.”

Yet, the impact of the RBI’s move will not be uniform. Borrowers on loans linked to the external benchmark (such as the repo rate) may benefit within weeks, while those tied to the older MCLR framework may experience a lag as banks adjust internal rates—a process often criticized for its sluggishness.

Economists also caution that the central bank’s action should not be mistaken for the beginning of an aggressive easing cycle. Inflation remains sticky, and with global economic signals still mixed, the RBI is expected to proceed cautiously. Nevertheless, for a sector that has endured a decade of shocks—demonetisation, GST rollouts, the pandemic, and rising input costs—any directional support is welcome.

For Meena, the calculus has shifted. “It’s a good time,” he says. “It feels like the balance is finally shifting in our favour.” And for India’s real estate ecosystem—from banks to builders—the hope is that many more will reach the same conclusion.

EOM

Wednesday, April 9, 2025

writingonblog uncensored: JSW Energy completes ₹12,468 crore acquisition of ...

writingonblog uncensored: JSW Energy completes ₹12,468 crore acquisition of ...: Mumbai JSW Neo Energy, the clean energy subsidiary of JSW Energy Ltd, has concluded the acquisition of a 4.7GW renewable energy platform fro...

JSW Energy completes ₹12,468 crore acquisition of O2 Power’s 4.7GW renewables platform

Mumbai

JSW Neo Energy, the clean energy subsidiary of JSW Energy Ltd, has concluded the acquisition of a 4.7GW renewable energy platform from O2 Power, a transaction valued at ₹12,468 crore on an enterprise basis. The move positions JSW among the leading players in India’s rapidly expanding renewables sector.

O2 Power, founded in 2020 as a joint venture between global investment groups EQT and Temasek, has developed a significant portfolio of utility-scale solar and wind projects across India. The deal is among the largest in India’s green energy space in recent years, reflecting growing consolidation in the sector as companies race to build scale ahead of the country’s 2030 decarbonisation targets.

The acquired portfolio includes 2,259MW of capacity expected to be operational by June 2025, with an estimated steady-state EBITDA contribution of ₹1,500 crore. JSW Energy plans to invest a further ₹13,500 crore to bring the full 4,696MW online by June 2027, at which point the asset base is projected to generate ₹3,750 crore in annual EBITDA.

Following the transaction, JSW Energy’s total installed capacity increases to 12,212MW on a pro forma basis, with renewable sources accounting for 6,554MW — approximately 54 per cent of its portfolio.

“O2 Power brings high-quality assets in resource-rich states, as well as a seasoned management team with a strong execution track record,” said Sharad Mahendra, Joint Managing Director and Chief Executive of JSW Energy. “This strategic acquisition significantly advances our 20GW capacity target, well ahead of our 2030 timeline.”

The transaction also brings with it grid connectivity for an additional 900MW, providing a platform for future expansion.

Pritesh Vinay, Director (Finance) and CFO, noted the deal’s value proposition. “This acquisition is compelling both in terms of quality and cost, especially when weighed against a ‘build versus buy’ framework. It strengthens our operations, adds to our project pipeline, and allows us to unlock synergies — including competitive financing to support the transaction.”

The acquisition underscores JSW Energy’s broader strategy of capital-efficient, value-accretive growth as it scales its renewables portfolio amid tightening global climate commitments.

Tuesday, April 8, 2025

Zambian Passenger Held in Chennai for Attempted Cocaine Smuggling

CHENNAI:

A Zambian national was arrested at Chennai International Airport after authorities discovered over 600 grams of cocaine estimated to be worth approximately ₹6.1 crore on the illicit market in her possession, according to officials from India’s Air Intelligence Unit (AIU).


The passenger had arrived on an Emirates Airlines flight from Senegal via Dubai and was intercepted on the basis of specific intelligence. A personal search reportedly revealed 460 grams of a white powdery substance, while an additional 12 cylindrical, hyper-dense pellets were later recovered under medical supervision.


Subsequent testing confirmed both the powder and the pellets to be cocaine, a controlled substance under India’s Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985. The individual was taken into custody and presented before a judicial magistrate, who remanded her to judicial custody. Authorities confirmed that further investigation into the incident is ongoing.

BPCL and Sembcorp form joint venture to pursue green hydrogen and renewables in India

Chennai:

Bharat Petroleum Corporation Limited (BPCL) and Singapore-based energy group Sembcorp have signed a joint venture agreement aimed at developing renewable energy and green hydrogen projects across India, as part of a broader push to support the country’s energy transition.


The partnership, first announced in principle on September 13, 2024, will explore opportunities in green ammonia production, bunkering, decarbonisation of port operations, and other low-carbon technologies. The companies plan to combine Sembcorp’s experience in renewable assets with BPCL’s infrastructure and domain expertise in the petroleum sector.


“This collaboration marks a significant step in BPCL’s transition journey,” said G Krishnakumar, Chairman and Managing Director of BPCL. “Our joint efforts with Sembcorp aim to develop cutting-edge renewable and green hydrogen solutions in support of India’s climate goals and our commitment to achieve net-zero Scope 1 and 2 emissions by 2040.”


BPCL is targeting a renewable energy portfolio of 10GW as it moves to reposition itself as a net zero energy company by mid-century.


Vipul Tuli, President & CEO of Sembcorp’s Renewables (West) and Hydrogen business, added: “We see this venture as an opportunity to deliver scalable, low-carbon energy solutions to help decarbonise India’s hard-to-abate sectors.”


Sembcorp, which operates 6GW of renewable assets in India, has identified green hydrogen and ammonia as strategic growth areas in its decarbonisation roadmap.


The joint venture is not expected to have a material impact on Sembcorp’s earnings per share or net tangible assets for the financial year ending December 31, 2025.




Monday, April 7, 2025

writingonblog uncensored: Chennai clocks 2.6 million sq ft of office leasing...

writingonblog uncensored: Chennai clocks 2.6 million sq ft of office leasing...: CHENNAI: Chennai registered 2.6 million sq ft of office leasing during January–March 2025, driven primarily by technology firms, fast-moving...

Chennai clocks 2.6 million sq ft of office leasing during January to March 2025

CHENNAI:

Chennai registered 2.6 million sq ft of office leasing during January–March 2025, driven primarily by technology firms, fast-moving consumer goods (FMCG) companies, retail businesses, and flexible space operators, according to CBRE’s latest report.

Leasing activity in the city was largely composed of small-sized deals. Nationally, India’s office market saw gross absorption of 18 million sq ft during the quarter—a 5% year-on-year increase. Bengaluru, Delhi-NCR, and Mumbai dominated leasing activity, accounting for nearly two-thirds of the total, the report stated..

Notably, Chennai contributed 10% of leasing in green-certified developments. “India’s office sector is on a solid trajectory for sustained leasing growth, driven by strategic expansions from both domestic and global occupiers,” said Anshuman Magazine, Chairman & CEO, CBRE India, South-East Asia, Middle East & Africa. “With strategic investments and a maturing office landscape, the sector is poised for long-term resilience and evolution,” he added.

Chennai and Pune are emerging as attractive destinations due to their skilled talent pools and robust supply pipelines. The report also highlights rising interest in tier-II cities, spurred by state-level incentives and cost efficiencies.

Among sectors, banking, financial services, and insurance (BFSI) firms recorded a 100% year-on-year surge in leasing across India, accounting for 26% of the total space absorbed. American financial institutions led this growth, contributing nearly half of BFSI leasing, followed by domestic banks at 31%. Within this, Global Capability Centres (GCCs) played a pivotal role, absorbing 57% of BFSI-related office space.

GCCs overall accounted for 45% of all office leasing in Q1 2025—equivalent to 8 million sq ft—marking a 66% year-on-year growth. Bengaluru led GCC leasing with a 40% share, followed by Delhi (24%) and Chennai (14%).

“India is rapidly emerging as a global hub for GCCs, with companies leveraging the country’s skilled workforce to drive innovation and digital transformation,” said Ram Chandnani, Managing Director, Advisory & Transaction Services, CBRE India. “In 2025, GCCs are expected to contribute 35–40% of total office space absorption.”

The technology sector retained its stronghold, contributing 24% of total leasing, while flexible space operators made up 12%. Engineering, manufacturing, and analytics firms also added to the momentum. Global corporations accounted for 62% of total leasing, with American companies leading at 45%.

CBRE report states technology is expected to remain a primary driver, supported by growth in AI, machine learning, and cloud computing. BFSI and engineering sectors are also poised to deepen their presence, powered by digitalisation trends.

writingonblog uncensored: Japanese automotive components giant Yazaki Expand...

writingonblog uncensored: Japanese automotive components giant Yazaki Expand...: CHENNAI: Japanese automotive components giant Yazaki is deepening its presence in India with the launch of a 3.16 lakh square feet built-to-...

Japanese automotive components giant Yazaki Expands India Operations with New Chennai Plant in Tie-Up with Blackstone’s Horizon



CHENNAI:
Japanese automotive components giant Yazaki is deepening its presence in India with the launch of a 3.16 lakh square feet built-to-suit plant in Chengalpattu as part of its ongoing partnership with Horizon Industrial Parks, the logistics platform owned by Blackstone, the world’s largest alternative asset manager. The facility will focus on the production of wire harnesses for automobiles and is expected to employ more than 2,000 workers.

This marks Yazaki’s third collaboration with Horizon. The facility will focus on the production of wire harnesses for automobiles and is expected to employ more than 2,000 workers. Valued at $17 billion globally, Yazaki already operates 12 plants across India and supplies wiring systems to most major original equipment manufacturers (OEMs) in the country.

With the addition of the Chennai unit, its footprint in India now exceeds one million square feet, spanning key industrial hubs such as NCR, Hosur and now Chengalpattu.

Urvish Rambhia, Director at Horizon Industrial Parks, said the strategic location of the new facility benefits from improved connectivity due to the recently constructed peripheral ring road, linking directly to Chennai port. "Chengalpattu is fast emerging as a manufacturing hotbed, with increasing activity from the IT, semiconductor, electronics and automotive sectors," he noted. A state-backed industrial estate in nearby Kodur Village, announced in 2021, is also expected to catalyse further development in the region.

Horizon Industrial Parks, which boasts a portfolio of over 50 million sq. ft. of leasable space, has built similar facilities for Yazaki in Hosur and Farukhnagar. Both sites have received Platinum ratings from the Indian Green Building Council (IGBC) and are viewed as benchmarks in sustainable industrial design.

“After evaluating several developers, Horizon stood out for its ability to deliver at speed and at scale,” said P.V. Raju, CEO of Yazaki India. “Our Hosur plant was completed within six months — a timeline that allowed us to fulfil key customer commitments. Horizon's emphasis on clean, dust-free environments is vital for ensuring high-quality production.”

With around 3,00,000 employees globally and 4,200 staff already working at its Horizon-operated facilities in India, Yazaki’s latest move underscores its long-term commitment to one of the world’s fastest-growing automotive markets.

Friday, April 4, 2025

writingonblog uncensored: India’s leather exporters weigh tariff-driven turm...

writingonblog uncensored: India’s leather exporters weigh tariff-driven turm...: C Shivakumar As the United States slaps fresh tariffs on Indian goods, leather exporters in Tamil Nadu — a key hub of the country’s leather...

India’s leather exporters weigh tariff-driven turmoil and opportunity in US trade shift


C Shivakumar

As the United States slaps fresh tariffs on Indian goods, leather exporters in Tamil Nadu — a key hub of the country’s leather industry — are bracing for short-term disruption, even as they eye long-term gains from shifting global trade flows.

Earlier this month, Washington announced a 26 per cent tariff on a range of Indian exports, including footwear and leather goods. The move, part of a broader trade recalibration under President Donald Trump’s administration, places India in a comparatively better position than East Asian competitors such as Vietnam and Cambodia, which now face steeper duties of 46 per cent and 49 per cent respectively.

While the hike has rattled Indian exporters, some in the sector see an opening.

“With the new tariffs in place, India becomes a more attractive sourcing destination,” said Israr Ahmed, director of Farida Prime Tannery and vice-president of the Federation of Indian Export Organisations (FIEO). “Major brands will start looking at India more seriously, and we anticipate a rise in order books.”

Tamil Nadu accounts for 38 per cent of India’s footwear and leather goods production. The state, home to several export-driven clusters, is likely to feel the impact of any shift in global sourcing strategies. India exported $4.01 billion worth of leather and leather products in the last fiscal year, with the United States accounting for nearly $873 million — over a fifth of total exports.

Despite optimism from some quarters, industry players warn that the immediate future could prove challenging.

“About 20 per cent of our exports go to the US,” said Abdul Wahab, managing director of K H Shoes. “It’s our single largest market, and a 26 per cent tariff is a serious blow. In the next four to five months, we expect disruption — cancellations and reduced orders.”

Wahab said his company, like many others, is scrambling to assess the full implications. “We’re moving from meeting to meeting, trying to understand the tariff lines. Right now, it’s too early to comment with certainty — but we already know that customers won’t absorb the full cost. They expect us to share the burden.”

He added that the impact will be felt almost immediately. “The tariffs come into effect from April 5. That covers our peak production season — the months leading up to the major fall and holiday sales in the US. These months are critical. Any shift in cost structures now directly hits manufacturers and brands.”

Beyond the short-term turbulence, exporters believe India’s leather sector could stand to benefit from a long-term realignment of supply chains away from traditional powerhouses in Southeast Asia.

“In the longer term, there is definitely an opportunity for India,” Wahab said. “We are one of the few competing manufacturing countries with scale. But before we can talk about gains, we need to get through this very real and immediate challenge.”

Industry bodies have begun lobbying the Indian government for relief and support. “This is a labour-intensive sector,” Wahab said. “We’re engaging with the Commerce and Finance Ministries to help us navigate this critical juncture.”

As the global trade map is redrawn, India’s leather exporters are hoping that short-term pain will lead to long-term repositioning — but for now, the focus is on survival.

Tuesday, April 1, 2025

ICA Signs Loan Agreement to Boost Tamil Nadu’s Investment Landscape with Third Phase of Development Program



CHENNAI:
In a significant move to enhance Tamil Nadu's investment climate, the Japan International Cooperation Agency (JICA) has inked a loan agreement worth 36,114 million Japanese Yen (approximately Rs 2,106 crore) for the third phase of the Tamil Nadu Investment Promotion Program. This funding aims to strengthen the state's regulatory frameworks, infrastructure, and skill development initiatives, positioning Tamil Nadu as a global industry hub.

The third phase of the program will focus on sustainable and future-oriented development, particularly in emerging and green sectors. The initiative aligns with India's rapid growth and emphasizes environmental responsibility, marking a critical step in Tamil Nadu's long-term economic strategy. JICA had previously supported the first and second phases of the program in 2013 and 2017, respectively, with a focus on similar developmental goals.

Key components of the Tamil Nadu Investment Promotion Program include the establishment of the Tamil Nadu Green Climate Fund (TNGCF) to support green and climate-smart industrial projects, as well as energy conservation incentives in partnership with Japan. Another crucial element is the Tamil Nadu Emerging Sector Seed Fund (TNESSF), which aims to promote investment in startups and high-growth industries, including semiconductors and advanced electronics. The Tamil Nadu World Innovation and Skill Training Hub (TNWISH) will also be established to provide cutting-edge, industry-relevant skill development opportunities.

The program further seeks to streamline the business environment for Japanese companies in Tamil Nadu by strengthening the Japan Desk, a collaborative initiative between the state government and JICA.

The Official Development Assistance (ODA) loan agreement was signed by Manisha Sinha, Additional Secretary, Department of Economic Affairs, Ministry of Finance, and Takeuchi Takuro, Chief Representative of JICA India.

Commenting on the partnership, Takuro emphasized Tamil Nadu's pivotal role in India’s industrial growth, noting the success of initiatives like the Japan Industrial Township (JITs) in Chennai. He highlighted that the third-phase program would play a crucial role in fostering green industries and advancing technologies such as semiconductors, further contributing to India’s and Japan’s sustainable development goals.

The Industries, Investment Promotion & Commerce Department of the Government of Tamil Nadu will oversee the implementation of the program, ensuring the effective rollout of policy reforms and infrastructure projects that will drive growth and job creation across the state.