Closed Nokia plant could open up doors to foreign investors and also bring in Jaya as an ally
GN Bureau | February 19, 2015
Finance minister Arun Jaitley can achieve twin objectives of getting an ally in Parliament and send signals to foreign investors about India’s tax regime by accepting a suggestion to revive Nokia plant in Tamil Nadu.
It is learnt that the Department of Electronics and IT (DeitY) has sent a proposals and suggested that it is ‘highly desirable’ that the mobile handset manufacturing activity at the Nokia plant at Sriperumbudur in Tamil Nadu be revived.
Jaitley had recently met former chief minister and AIADMK leader J Jayalalithaaa in Chennai and her party’s support is crucial in Rajya Sabha. Revival of the Nokia factory, which had given direct employment to nearly 8000 people, may boost TN’s sentiments. It will also lift the Modi government pitching for Make in India.
Nokia had suspended mobile handset production at the plant in November last. The company had tax troubles and other legal issues. Nokia began its operations in 2006. It was Nokia's largest plant in the world. Due to tax issues the factory remained out of agreement of sale with Microsoft.
According to the DeitY, the revival plan would send "positive signals to the domestic and global industry". It remains to be seen whether Jaitley will take this proposal to the logical conclusion and provide some kind of incentives in his budget this month.
RailTel has achieved highest ever turnover of Rs 903 crore and clocked a profit before tax (PAT) of Rs 194 crore and net profit of Rs 130 crore in financial year 2016-2017. RailTel has said that the past year has been remarkable for it as the railway PSU has proved itself to be a key
From 1969 onwards, following an amendment in the BHU Act, the Banaras Hindu University (BHU)’s executive council is entirely nominated by the president of India on the recommendations of the HRD ministry. None of the executive council members are elected, thus, diluting the democratic structure of th
The highest proportion of policymakers with not much or no knowledge of the Sustainable Development Goals (SDGs) was found in India (38%), said a report by an international advocacy group. Equal Measures 2030, an advocacy group, which spoke to policymakers in India, Colombia, Indonesia, Keny
Prime minister Narendra Modi has launched Pradhan Mantri Sahaj Bijli Har Ghar Yojana –“Saubhagya” – to ensure electrification of all households in the country. Here are five elements of this new programme: The total ou
Companies operating in the financial services domain will have to develop novel preventive control mechanisms and significantly invest in reactive capabilities to keep cyber-attackers at bay, suggested an ASSOCHAM-PwC joint study. “Incorporating a more agile cyber risk management appro
We rarely think of food as a viewpoint. We understand the world of food, but not so much its worldview. Everything that we consider as food has a rich context that’s one part history, one part anthropology, significant bits of science, and a liberal sprinkling of medicine, politics, culture and econo