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The Indian government is drafting a new policy in which countries that do not allow Indian investments won’t be able to invest in India either. India is going to adopt a reciprocity policy in power sector too and won’t allow investments from nations that do not allow investments from Indian companies. This means, Chinese companies won’t be able to invest in <keyword id="387470" type="UNKNOWN" weightage="20" keywordseo="Power-transmission">power transmission</keyword> in India as China does not approve of overseas investments in its electricity grid for security reasons but India allows 100% foreign direct investment (FDI) in the power sector. If India bars Chinese companies in investing in power transmission, it will help in protection from cyberattacks because the power sector is increasingly software driven with intelligent technology and control systems being used. In a recent interview, India’s Power Minister <keyword id="6355222" type="PERSON" weightage="20" keywordseo="Piyush-Goyal">Piyush Goyal</keyword> had told ET that India won't allow power companies to invest from countries where Indian firms are banned. "Discussions have already been held with the commerce ministry. There should be reciprocity in trade. Other countries should not be allowed to exploit the Indian market while they protect their domestic players and space,” a government official told ET. Meanwhile, the power ministry is working on a secure management to prevent cyberattacks on the electricity grid. Domestic power equipment manufacturers have said it could also be a threat to national security as electricity distribution systems carry power to pipelines, water systems, telecommunications and other critical infrastructure, while also serving key government and military facilities.

Chinese companies won’t be able to invest in India’s power transmission. Here’s why

India is one of the liberal markets when it comes to Foreign Direct Investment (FDI) but now it is going to end the one-side affair. India’s power sector is not allowing foreign companies to take undue advantage of the liberal policies and has said foreign companies from countries where Indian companies are banned cannot invest in India. Putting end to the one-sided gains, India’s Power Minister <keyword id="6355222" type="PERSON" weightage="20" keywordseo="Piyush-Goyal">Piyush Goyal</keyword> said foreign firms from countries that do not allow Indian companies to invest and make money in their markets won’t be allowed. "Reciprocity will be the rule. Either they open up for us, or we close down for them. India is not a market to be exploited and enjoyed when you protect your own market. Countries that do not allow our companies, we will not allow their companies," Goyal told ET in an interview. "You have to be strong. You have to have courage of conviction. Fortunately, that's something Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> doesn't lack." India offers a huge potential to investors in the power sector. Meanwhile, Goyal also rubbished reports claims by few experts that electricity generated from wind and sun was a threat to grid stability and a problem for thermal power stations. "A country that makes 1,200 billion units, what is 20 billion units? Can you call it the cause of the problems that the thermal sector or any other sector is having? So it's all excuses and it's a naysayer philosophy - whatever good is happening, criticise it," Goyal told ET. Goyal also spoke about future of <keyword id="6358835" type="UNKNOWN" weightage="20" keywordseo="Electric-cars">electric cars</keyword> in India. "I suspect that by 2030 we should be able to start selling electric cars across the board and I believe these cars will not only be more efficient, they will also be much cheaper to operate," Goyal said.

India says no more one-sided gains; won’t allow power companies to invest from countries where Indian firms are banned

India’s <a href="http://www.businessinsider.in/yourmoney/your-money/india-fmcg-sector-has-lost-rs3840-crore-last-month-thanks-to-demonetization/articleshow/56155564.cms">FMCG industry </a>has emerged as the highest paying industry in the country, with an average annual CTC of Rs 11.3 lakh across all levels and functions. 
 
As per a survey, the industry actively seeks qualified personnel in sales, marketing and supply chain management, and around 30% of jobs being posted are over 10 lakh category; this makes for the primary reason behind <a href="http://www.businessinsider.in/small-business/fmcgs-are-banking-on-better-consumption-post-note-ban-start-hiring/articleshow/56663012.cms">FMCG </a>industry’s victory. 
 
Also read: <a href="http://www.businessinsider.in/FMCG-products-with-gold-in-their-names/articleshow/53298776.cms">Indians are so fond of gold that they don’t mind shelling extra money for FMCG products with ‘gold’ in their names</a> 
 
Next in the line are the power and <a href="http://www.businessinsider.in/careers/IT-employees-need-to-upgrade-to-avoid-being-washed-up-by-digital-wave/articleshow/50011834.cms">IT </a>sectors, with average annual salaries of Rs 9.8 lakh and Rs 9.3 lakh, respectively. 
 
This was revealed by the 2017 Salary Trends Study released by Randstad. 
 
Also read: <a href="http://www.businessinsider.in/Google-the-most-attractive-employer-in-India/articleshow/47026889.cms">Google is the 'most attractive employer in India'</a> 
 
The fourth and fifth positions are taken by Pharma and healthcare (Rs 8.8 lakh) and telecom (Rs 8.7 lakh). 
 
"Today employers are cognizant of the fact that the right salary structure is one of the key strategies to attract, engage and retain top talent in the organisation and hence it is important to closely analyse the prevalent salary trends and make course corrections wherever necessary," said Moorthy K Uppaluri, MD &amp; CEO, Randstad India. 
 
Talking of location-specific salary trends, Bangalore tops the list to become the highest paying city in the country, with an average annual CTC of Rs 14.6 lakh across all levels and functions. 
 
Second position is grabbed by Mumbai (Rs 14.2 lakh) followed by Hyderabad (Rs 13.6 lakh) and NCR (Rs 13.5 lakh). 
 
Next in the list are Chennai (Rs 13.4 lakh), Pune (Rs 13.2 lakh), and Kolkata (Rs 11.4 lakh). 
 
Talking of jobs in demand across industries in the 6-10 years experience bracket, Core Java professionals emerged as the winners with an average annual CTC of Rs 18.06 lakh, followed by Digital Marketing professionals (Rs 17.09 lakh) and Testing Automation Engineers (Rs 14.67 lakh). 
 
For the survey, Randstad analysed around 1 lakh jobs across 20 industry verticals and 15 core functions. 
 
(Image source The Indian Talks)

Survey reveals FMCG to be India’s highest paying industry

<ul><li>The <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> gave banks until 27 August to finalise a resolution plan for 70 stressed accounts worth more than ₹20 billion each. </li><li>Now that the deadline has expired, insolvency proceedings will be initiated against all accounts that do not have an adequate resolution plan. </li><li>There is, however, one slight roadblock to the plan. The Indian <keyword id="26362" type="ORGANIZATION" weightage="20" keywordseo="Government">government</keyword> wants to protect power producers, which comprise a bulk of the stressed accounts, from <keyword id="43550" type="EVENT" weightage="20" keywordseo="Bankruptcy">bankruptcy</keyword> proceedings. </li></ul>In a circular released <a href="https://www.rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx?Id=11218">in February 2018</a>, the Reserve Bank of India gave India’s banks a total of 180 days, starting on 1 March, to finalise a resolution plan for all non-performing loans in excess of ₹20 billion, barring which the debtors would undergo bankruptcy. This equated to ₹3.8 trillion worth of <keyword id="142154" type="PERSON" weightage="20" keywordseo="bad-loans">bad loans</keyword> extended to around 40 companies. The goal of the circular was to accelerate the resolution process of non-performing accounts by setting a timeline. And now that the 27 August deadline imposed on banks has expired, insolvency proceedings will have to be initiated against all accounts that do not have a resolution plan - something that banks would have wished to avoid because they cede control of the resolution process to the National Company Law Tribunal (<keyword id="6355809" type="UNKNOWN" weightage="20" keywordseo="nclt">NCLT</keyword>), a bankruptcy court, and are forced to take a huge discount on their claims. Within the next 15 days, the fate of a number of accounts will be decided. Two bankers told <a href="https://www.livemint.com/Industry/GU33HB0HpQr2GAazBEBcDJ/RBI-deadline-over-20-new-NPA-accounts-to-go-to-NCLT.html">Mint</a> that Indian banks will refer 20 out of a possible 32 accounts to the NCLT for resolution. The remaining bad loan accounts will likely undergo a private restructuring or liquidation process. The accounts that are set to be transferred to the NCLT include Essar Power, BRG Iron and Steel and Jindal Thermal India Ltd. Stressed power accounts There is, however, one slight roadblock to the plan, specifically in relation to the non-performing loans of power companies. On August 27th, The Allahabad High Court decided against ordering a pause on all resolution proceedings against power companies after they filed a petition to seek relief from the resolution deadline. The power producers now have the option of escalating the issue to the Supreme Court. The move has important implications for the entire bad loan resolution process, since the stressed <keyword id="6385673" type="UNKNOWN" weightage="20" keywordseo="power-sector">power sector</keyword> is estimated to account for ₹1.5 trillion worth of non-performing accounts. The Indian government faces a tough decision in this regard. On one hand, it needs to clean up the banking sector. On the other, it is hesitant about letting power companies undergo resolution or liquidation prematurely because this could cripple the sector if proceedings were to fail because of low investor interest. Additionally, the government needs these companies to maintain normal operations in anticipation of a pickup in electricity demand as well as for the sake of the progress of public electrification schemes like Saubhagya. It’s a tricky conundrum, sure, and one that requires a firm hand. As things stand, the government will likely invoke a provision under the RBI Act that allows it to give the RBI special directions that are “in the interest of the public”. It will try and give power producers a short-term breather from bankruptcy proceedings as a precursor to a larger resolution plan for the sector.

RBI’s deadline for Indian banks to resolve ₹3.8 trillion worth of bad loans has expired. What's next?

The <keyword id="6354484" type="PERSON" weightage="20" keywordseo="Donald-Trump">Donald Trump</keyword> administration might approve major <keyword id="4348203" type="UNKNOWN" weightage="20" keywordseo="export-of-natural-gas">export of natural gas</keyword> to energy-hungry India, said a senior <keyword id="6354458" type="COUNTRY" weightage="20" keywordseo="US">US</keyword> official, adding that <keyword id="85896" type="ORGANIZATION" weightage="20" keywordseo="Energy-Sector">energy sector</keyword> could be a major area of bilateral co-operation <a href="http://www.businessinsider.in/India-US-ties-will-foster-after-Obama-too-new-US-President-may-meet-PM-Modi-within-100-days/articleshow/54826916.cms">between the two democracies</a>. 
 
The comments have come in right before US President Donald Trump is set to sign an executive order which would wipe out ex President Obama’s climate change legacy. 
 
Also read: <a href="http://www.businessinsider.in/trump-congratulates-modi-on-assembly-polls-success/articleshow/57868045.cms">Trump congratulates Modi on assembly polls success</a> 
 
The Trump administration is yet to take a decision on the Paris Agreement on climate change, as well as several co-operations that the US has been doing with other countries including India regarding clean energy and climate change issues. 
 
Also read: <a href="http://www.businessinsider.in/donald-trump-to-take-forward-obamas-move-will-back-indias-nsg-bid/articleshow/57683393.cms">Donald Trump to take forward Obama’s move, will back India's NSG bid</a> 
 
It was during his visit to the US that India’s Minister of State for Petroleum and Natural Gas Dharmendra Pradhan had discussed the possibility of importing LNG from the US with new Energy Secretary Rick Perry. They also talked about Indian investment in the US energy sector, while mentioning the energy cooperation between India and the US. 
 
Also read: <a href="http://www.businessinsider.in/us-just-made-changes-to-its-export-control-laws-and-this-is-going-to-benefit-india-to-build-military-items/articleshow/57018940.cms">US just made changes to its export control laws and this is going to benefit India to build military items</a> 
 
Perry had said that co-operation in the energy sector between these two countries would benefit both India and the US, given that India's <a href="http://www.businessinsider.in/Licensing-policy-HELP-is-going-to-change-the-game-in-Indias-oil-and-gas-sector/articleshow/52685017.cms">energy need</a> will rapidly rise as the <a href="http://www.businessinsider.in/markets/economy/india-ratings-pegs-economy-to-grow-at-7-4-in-fy18/articleshow/57149878.cms">economy expands</a>. 
 
(Image source: TheWire)

‘Energy-hungry’ India might be able to import natural gas from the US

<ul><li>A consortium of banks, led by <keyword id="6354731" type="UNKNOWN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword>, are planning to form an asset management company to take over and restore the financial health of 14 stressed <keyword id="44011" type="CITY" weightage="20" keywordseo="power">power</keyword> plants. </li><li>Since these banks are the main creditors to the firms operating these power projects, they stand to lose the most from the liquidation of these assets. </li><li>The Indian government has identified 34 stressed power plants. These assets account for over 40,000 megawatts of power generation and a ₹1.74 trillion in credit from India’s banks.</li></ul>After a rescue plan for stressed power assets involving a joint venture by state-owned firms like NTPC and Rural Electrification Corp failed to materialise, a group of creditors, led by the State Bank of India, are taking matters into their own hands. The banks are joining forces to prevent 14 power plants from going under - which will endanger the recovery of billions of dollars worth of loans. Since they are the main creditors to the firms operating these power projects, such as IndiaBulls and KSK Energy, the banks stand to lose the most from the liquidation of these assets. The move has national implications. There are currently 34 stressed power plants that have been identified by the government. These assets account for over 40,000 megawatts of power generation - a lot of electricity for Indian homes and businesses - and a staggering ₹1.74 trillion in credit from India’s banks, which already <a href="https://www.bloombergquint.com/markets/2018/03/29/banks-brace-for-earnings-impact-on-rbis-toughened-bad-loan-stance">have more than ₹9 trillion</a> in <keyword id="142154" type="PERSON" weightage="20" keywordseo="bad-loans">bad loans</keyword>. If they aren’t rescued, India’s non-performing loan problem will go from bad to worse, further endangering the state of our finances. Swapping <keyword id="44647" type="ORGANIZATION" weightage="20" keywordseo="debt">debt</keyword> for equity These banks have decided to form an asset management company that will take up the ownership of these 14 plants. According to a report in the Economic Times, the lead creditor for each plant <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/lenders-find-a-rescue-plan-for-stressed-power-assets/articleshow/64020848.cms">will invest ₹100 million</a> while the other creditors will invest an amount that is proportional to their exposure on each project. The fund will also include the contributions of pension funds, the National Investment and Infrastructure Fund (NIIF) and other strategic investors. Consequently, the debt in each project will receive a rating from an accredited agency. The healthy portion of the debt will be swapped for an equity holding, while the project promoter’s and creditors will be forced to take the unrecoverable portion at a significant discount to its real value. Furthermore, in order to retain their control over the assets, the plant’s owners could reportedly be asked to supplement their investment with fresh equity. The asset management company will own the assets for a period of up to five years. The banks will also bring a state-owned power firm like NTPC to operate these assets during the recovery period. Finally, the banks will sell the assets, once they reach a certain level of financial health, in order to recover their debts. The move is expected to result in the quicker resolution of these assets, and also provide the lenders with better valuations on their debt in comparison to an outright <keyword id="43550" type="EVENT" weightage="20" keywordseo="Bankruptcy">bankruptcy</keyword>. The plan to form an asset management company is motivated by survival. These creditors are already dealing with weak balance sheets and high provisioning requirements for bad loans. They can’t afford any significant increase in their non-performing loans. Short on time The plan is contingent on a number of regulatory and stakeholder approvals. The banks will reportedly finetune the scheme over the next three months and ensure that all power-purchase agreements for these assets are honoured. However, they will also have to contend with an order from India’s central bank in February 2018 that requires stressed assets to be resolved within 180 days of March 1st or submitted to the National Company Law Tribunal (NCLT), a bankruptcy court. As a result, the banks have until September to implement the scheme, which is when the resolution period on some of the plants expire. In order to prevent this from happening, the Ministry of Power has written to the central bank and the finance minister, Arun Jaitley, to stay the order from the RBI. The banks will likely try everything they can to prevent these assets from being referred to the NCLT. If this happens, they will be forced to take a large haircut in the ensuing liquidation process, plunging them further into a problem <a href="https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1009">of their own making.</a>

A stressed power sector is threatening India’s economy, but its banks have a solution

New Delhi, Dec 26 () The supply of coal by state-owned Coal India to the power sector registered a decline of 8.9 per cent to 291.4 million tonnes in April-November this year.
 The world's largest coal miner had supplied 320 million tonnes (MT) of coal in April-November period of the previous fiscal, according to latest government data.
 The fuel supply by Coal India (CIL) during the month of November also registered a decline of 9.9 per cent to 38.8 MT, against 43.1 MT in the corresponding month of previous fiscal, the data showed.
 Coal dispatch by state-owned Singareni Collieries Company Limited (SCCL) also dropped marginally by 1.7 per cent to 34.4 MT in the April-November period of the ongoing fiscal, against 35 MT in the year-ago period.
 The fuel supply by SCCL during the month of November also dropped by 6.1 per cent to 4.6 MT, against 4.9 MT in the corresponding month of previous fiscal.
 Stating rain as the 'enemy of the coal sector', a government official had recently blamed extended monsoon for the loss of coal output for a few months from July onwards in the current fiscal.
 CIL saw its production decline by 7.7 per cent to 330.4 MT in April-November period, over 358.3 MT in the year-ago period.
 The state-owned firm had earlier said that it will produce 750 million tonnes of coal in the next financial year.
 The firm will further produce 1 billion tonnes of coal by FY2024, Coal Minister Pralhad Joshi had said.
 The the public sector undertaking is currently given the target of producing 660 million tonnes of coal amounting to 82 per cent of the country's coal output.
 Joshi had said that with the demand for power rising steeply, there is enough opportunity for both government and private sectors to produce coal without adversely impacting each other. SID SID ANS
ANS

Fuel supply by Coal India to power sector drops 9 pc to 291 MT in Apr-Nov

The Indian <a href="http://www.businessinsider.in/searchresult.cms?query=power+sector&amp;sortorder=effectivedate">power sector</a> has been abuzz since the <a href="http://www.businessinsider.in/searchresult.cms?query=NDA+government+&amp;sortorder=effectivedate">NDA government </a>took over. 
 From announcing UDAY (Ujwal DISCOM Assurance Yojana) to boosting domestic <keyword id="500152" type="UNKNOWN" weightage="60" keywordseo="coal-supply">coal supply</keyword>, ramping up the country’s ailing transmission networks offering subsidized gas to plants, several initiatives have been introduced. 
 
EESL’s Managing Director Saurabh Kumar told Business Insider the current government’s efforts are ‘laudable’ in an exclusive interview on the sidelines of the Energy Infra Post launch. 
 “The <keyword id="6385673" type="UNKNOWN" weightage="80" keywordseo="power-sector">power sector</keyword> has transformed in the last 2 years, after the new government came in. Coal production has gone up, supply has improved, and attempts are being made to improve transmission lines. That’s laudable”, Kumar told reporters. 
 
Domestic <a href="http://www.businessinsider.in/searchresult.cms?query=coal+supply&amp;sortorder=effectivedate">coal supply</a> has improved and international coal prices have fallen over the last two years. Thermal power, which accounts for approx 70% of the country’s power generation, rose around 5% to 943 billion units in 2015-16. The country’s thermal power capacity has shot up more than 11% to 2,10,675 MW by March 2016. 
 
According to the government’s targets, the country’s transmission lines network will be expanded to a further 3,64,900 cKm by March 2017. The addition of 2,49,400 MVA transformation capacity during 2012-16, has been the highest ever in the country’s history. 
 
When asked about the country’s power challenges, Kumar said, “Wind power is under-utilized, renewable power should be more widely adopted and we’ll have to bring focus back to hydro-electric power. Coal and gas-based power plants must also be revived.” 
 
The current government has been conducting auctions to revive stranded gas-based plants. 
 
Image credit: Indiatimes

‘India’s Power sector has
transformed in the last 2 years’: EESL MD
Saurabh Kumar

<keyword id="478037" type="ORGANIZATION" weightage="80" keywordseo="Power-Grid-Corporation-of-India-Ltd">Power Grid Corporation of India Ltd</keyword> (<keyword id="197484" type="ORGANIZATION" weightage="80" keywordseo="PGCIL">PGCIL</keyword>), an Indian state-owned company headquartered in Gurgaon, Haryana, will invest Rs 5,800 crore for upgrading its network in Gujarat over the next three to four years, said a top official.
 "Power Grid will invest Rs 5,800 crore in Gujarat to increase the number of <keyword id="624094" type="UNKNOWN" weightage="80" keywordseo="extra-high-voltage">Extra High Voltage</keyword> (EHV) substations to 12 from the existing five,” DK Singh, executive director of PGCIL, said. 

	"It will also be used for increasing the transmission capacity to 19,000 mega volt ampere (MVA) from the existing 4,000 MVA. The transmission lines shall be expanded to 7,575 kms in Gujarat from the existing 5,610 kms," he said.
 Discussing about the country-level projects, Singh said that 11 <keyword id="2388774" type="UNKNOWN" weightage="80" keywordseo="High-Capacity-Power-Transmission-Corridors">High Capacity Power Transmission Corridors</keyword> (HCPTCs) are coming up in resource-rich states like Chhattisgarh, Odisha, Madhya Pradesh, Sikkim, Jharkhand, Tamil Nadu and Andhra Pradesh at an estimated cost of Rs 66,000 crore. These have been planned to meet bulk power evacuation requirement of various independent power producers (IPPs) across India, he added. The official also expressed confidence that the <keyword id="65314" type="ORGANIZATION" weightage="80" keywordseo="Indian-power-sector">Indian power sector</keyword> will flourish with the formation of 'One Nation-One Grid' system. 

	However, the major areas of concern in development of transmission network in the country are minimising impact on natural resources, coordinated development of cost effective transmission corridor and flexibility in enhancing transfer capacity of lines matching with power transfer requirement, he added. 
	(Image: Wikipedia)

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Chinese companies won’t be able to invest in India’s power transmission. Here’s why

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India says no more one-sided gains; won’t allow power companies to invest from countries where Indian firms are banned

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Survey reveals FMCG to be India’s highest paying industry

RBI’s deadline for Indian banks to resolve ₹3.8 trillion worth of bad loans has expired. What's next?

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‘Energy-hungry’ India might be able to import natural gas from the US

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A stressed power sector is threatening India’s economy, but its banks have a solution

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Fuel supply by Coal India to power sector drops 9 pc to 291 MT in Apr-Nov

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‘India’s Power sector has transformed in the last 2 years’: EESL MD Saurabh Kumar

BI India Bureau

Power Grid To Invest Rs 5,800 Crore To Upgrade Its Networks In Gujarat

BI India Bureau

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