THE DBM WEEKLY

16 th - 22 th june 2018 VOL.-2, ISSUE:25

Vol-2,issue-25
 16th-22th june 2018 BUSINESS WEEKLY THE DBM WEEKLY

Bosch draws up ₹ 1,700-crore fresh investment plan for India

A major share of this will be used to expand its smart campus in Adugodi and modernize
manufacturing facilities.
Bosch Group plans to invest an additional ₹ 1,700 crore in India over the next three years to meet the
rising demand for its technology and services in the automobile and mobility sectors, Volkmar Denner,
chairman, board of management, Robert Bosch GmbH, said here on Wednesday.
“We have invested ₹ 370 crore in the past three years,” he told correspondents in Bengaluru, where the
company’s subsidiary Bosch India, is headquartered. “A major share of this (₹ 1,700 crore investment)
will be used to expand Bosch’s smart campus in Adugodi and modernize manufacturing facilities in
the country.
The company believes that internal combustion engine will continue to be the mainstream solution for
freight and commercial vehicles. However, a key role here will be played by Bosch India’s
electrification initiatives to address the transformation in urban mobility,” he said.
Mr. Denner, who is also the CEO of the group, said Bosch viewed the co-existence of fossil fuel
engines and electrification with hybridization as an interim solution.
“We want to help keep people mobile while improving air quality. The company is making heavy
investments both in making electro mobility a market success and in enhancing the combustion
engine,” he said.
There was a rising demand for connected mobility in India’s automobile market, which has become the
world’s fourth-largest after overtaking Germany, Mr. Denner said.
“Connectivity will fundamentally change how we get from A to B, and, in the process, it will help to
solve today’s traffic problems. We are using it to raise our vision of emissions -free, stress-free and
accident-free mobility,” he said

In India, a new business division would work to develop a global telematics platform that would be
enabled and operated by local engineering talent, he said.
“The key offerings will include vehicle sharing, ride sharing and connectivity-based services for car
drivers,” Mr. Denner said.
“India is also one of the three locations of Bosch Center for Artificial intelligence after the U.S, and
Germany. A fourth location is planned in China,” he added.
“Most of the products in the near future will be linked to artificial intelligence. These products will
either possess that intelligence themselves or AI will play a key role in their development or
manufacture,” he said.
Bosch India has also partnered with IIT-Madras to set up a Robert Bosch centre for data sciences and
artificial intelligence with a fund offer of ₹ 1 crore a year for five years.
“It will set a precedent in the way big data is used to improve our problem-solving capability in the
industry,” Mr. Denner said. About 18,000 out of Bosch’s 31,000 associates in India work in research
and development. The Indian unit earned revenue of ₹ 10,842 crore in 2017.
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16th-22th june 2018 BUSINESS WEEKLY
Anmol Industries set for IPO
It has 62 varieties of biscuits and 26 varieties
of cakes in its product portfolio.
Anmol Industries Limited, a branded packaged
food company focussing on biscuits and cakes,
has filed papers for an initial public offering
(IPO). The company is based in Kolkata with
units in West Bengal, Odisha, Bihar and Uttar
Pradesh
The offer for sale is by Baijnath Choudhary &
Family Trust, represented through its trustees
aggregating up to ₹ 7,20 crore, by SKG Land
Developers LLP aggregating up to ₹ 22.5
million, by Delta Nirman LLP aggregating up
to ₹ 4 crore, by Anmol Hi-Cool LLP
aggregating up to ₹ 2.5 crore and by Puneet
Mercantiles LLP aggregating up to ₹ 0.6 crore.
According to the draft red herring prospectus
filed by the company, its operational income
stood at ₹ 857.9 crore in the nine- month
period ending December 2017 with a net profit
of ₹ 61.8 crore. In 2016-17, it had an
operational income of ₹ 1,240.8 crore and a net
profit of ₹ 71.6 crore. Edelweiss Financial
Services Limited, ICICI Securities Limited and
Motilal Oswal Investment Advisors Limited
are the BRLMs to the Issue.
AIL is engaged in making cakes and biscuits
under “Anmol” brand. Its product basket has
62 varieties of biscuits and 26 varieties of
cakes. It has a distribution network across 17
states.
With six manufacturing facilities, located at
Dankuni and Panchghara in West Bengal,
Greater Noida and Ghaziabad in Uttar Pradesh,
Hajipur in Bihar and Bhubaneswar in Odisha,
the company has an installed capacity of
294,544 MTPA for biscuits and 8,148 MTPA
for cakes.
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THE DBM WEEKLY
Deposits extremely safe in PSBs: Goyal
The public’s money is “extremely safe” in public
sector banks and the government is 100% committed to
these banks, Finance Minister Piyush Goyal said on
Tuesday. “Public money is extremely safe in public
sector banks,” Mr. Goyal said at a press conference
following a meeting with the heads of public sector
banks. “The government stands behind public sector
banks 100%, and their money is extremely safe.
Government-owned banks’ deposits are 100% safe and
secure.”
The Finance Minister also said that the government
was open to the idea of providing the Reserve Bank of
India with more powers to effectively regulate and
manage public sector banks. His statement follows RBI
Governor Urjit Patel’s statements to the Standing
Committee on Finance that the central bank needed
more powers, such as the ability to appoint and dismiss
the heads of PSBs. “The government stands 100%
committed to support each and every one of our public
sector banks and to ensure the viability and successful
future of every PSU bank, particularly because they are
the engines which take financial inclusion to the last
man at the bottom of the pyramid,” Mr Goyal added. “I
don’t think that PSBs have got into losses or got into
trouble now. This was already existing, it’s only that
we have shown the mirror to the world and actually
brought it down the table.” Following the meeting with
the bankers, Mr Goyal said the PSBs had come up with
a plan to take up the credit needs of “genuine,
deserving, well performing and good companies”. In
the first stage, they will assess the needs of companies
who have borrowings between Rs 200 crore and Rs
2,000 crore. In the second stage, they will take up the
accounts with borrowings of up to Rs 200 crore, which
he said would also cover MSMEs.
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16th-22th june 2018 BUSINESS WEEKLY THE DBM WEEKLY

Centre shelves Air India privatisation plan

Cost-cutting measures will be adopted and efforts will be made to monetise assets to run the airline,
says source.
After it failed to get any buyers for the debt-ridden national carrier, the government has shelved its
plan to privatise Air India exactly a year after the Union Cabinet gave its nod for the disinvestment
process. “Now is not the right time to privatise Air India. We received no bids. We will look at
improving efficiencies by bringing private people to work with the airline’s top brass
He added that measures such as cutting down costs as well as monetisation of Air India’s assets
will be adopted in order to run the airline. The source attributed the lack of interest in the
disinvestment process to rising fuel prices and hinted that the government could revisit the plan to
offload its stake in Air India at a later stage. The decision was taken at a meeting convened by
senior BJP leader and Union Minister Arun Jaitley on Monday. The broad contours of Air India’s
privatisation were made public in March-end and interested players were invited to place initial
bids.
However, when the deadline to submit the bids ended on May 31, no player came forward to
express its interest in buying the airline. The government had offered to sell 76% of its stake in Air
India, along with low-cost subsidiary Air India Express and its 50% share in ground handling arm
AISATS as a single entity. The buyer would have to take on the debt and current liabilities of
₹33,392 crore. Many players had raised questions about the huge size of the debt, the government’s
refusal to exit completely from the airline as well as sought clarity on the benefits and obligations
towards more than 15,000 permanent and contractual employees. However, the government had
said that continuing to hold some stake in Air India would help it to service the share of the debt of
approximately ₹25,000 crore it was not passing on to the new buyer. Aviation think-tank CAPA
says the government’s decision does not bode well for the beleaguered airline. “We are
disappointed with the government’s decision not to go ahead with AI’s divestment. Continuing
government ownership and the lack of a clear road map will lead AI to extreme insignificance and
possibly closure. There will never be a perfect timing for AI divestment as conditions for
divestment have to be structured by some bold decisions,” said Kapil Kaul, CEO & Director,
CAPA South Asia. He said the government will have to focus on comprehensive restructuring of
the airline under a special administration to scale down losses significantly.
The airline has already sought short-term loans of ₹1,000 crore after it was unable to pay the
salaries of its employees earlier this month. A turnaround plan approved by the UPA-2 government
in 2012 provided for financial assistance to the tune of ₹30,000 crore over a 10-year period for the
carrier. Of this, the airline has received more than ₹26,000 crore. It was also required for the airline
to monetise its land assets and generate ₹5,000 crore over a 10-year period until 2021 but the
airline has only been able to garner a mere ₹445 crore, as per the government in Parliament in
February.

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16th-22th june 2018 NATIONAL WEEKLY
One killed in blaze in Pune
DRDO lab
A contract worker was killed in a blaze while
handling explosive material at the High
Energy Material Research Laboratory
(HEMRL) in the city’s Defence Research and
Development Organisation (DRDO) at
Pashan. Police sources said that another
worker suffered grievous injuries in the fire,
which erupted on Tuesday. The deceased has
been identified as Laxmikant Sonawane (26),
a resident of Pune’s Warje area and the
injured as Yogesh Kirtikar. According to
officials at the Hinjewadi police station, the
workers were taking samples of some
explosive material when one such substance
blew up, causing a blaze. Further
investigations were on, said a senior police
official. HEMRL Director K.P.S. Murthy said
that all safety measures were adhered to at the
time the accident occurred. “The deceased
was a contract worker… A high-level DRDO
committee will investigate the causes of the
accident and come up with a report,” said Mr.
Murthy. The HEMRL, one of the premier
research laboratories in the Pune DRDO
establishment, sprawls across 800 acres in the
city’s Pashan and Sutarwadi area and has
played a vital role in the development of
India’s missile systems.
Past incidents
In December 2015, three contractual workers
were severely burnt in an explosion which led
to a fire in the HEMRL’s Igniter Complex.
An explosion in 2009 took away the ceiling of
one of the labs. No loss of life was reported at
the time. In a major mishap in 2002, six
persons, including two lab technicians and
four contract workers, lost their lives in an
explosion in the facility’s Solid Rocket
Propellant section.
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THE DBM WEEKLY
CEA Arvind Subramanian has
resigned, wishes to return to U.S.:
Jaitley
He has cited pressing family commitments,
says the Union Minister.
Chief Economic Advisor (CEA) Arvind
Subramanian has submitted his resignation and
expressed his desire to return to the United States
due to family commitments, Union Minister Arun
Jaitley announced on Wednesday.
“Few days ago, Chief Economic Advisor Arvind
Subramanian met me over video conferencing,” Mr.
Jaitley said in a Facebook post. “He informed me
that he would like to go back to the United States on
account of pressing family commitments.
His reasons were personal but extremely important
for him. He left me with no option but to agree with
him.” Mr. Subramanian started his term as CEA on
October 16, 2014 for a term of three years. On the
completion of three years, he was asked to continue
for a year more, which would have taken his term to
October 2018.
Sikkim govt announces A.R.
Rahman as its Brand Ambassador
The music composer will promote and project the
state’s achievements nationally and globally.
Renowned music composer A.R. Rahman has
been appointed as the Brand Ambassador of the
Sikkim government, an official notification said.
Mr. Rahman will promote and project the state’s
achievements nationally and globally, the
notification issued by the Chief Secretary A.K.
Srivastava said. Sikkim, with its natural and
pristine beauty, has over the last two decades
emerged as a world famous eco-tourism
destination, besides attaining a distinct identity as
the first fully organic farming state of the country,
it said on Monday. The state government had
earlier this year made Mr. Rahman its Brand
Ambassador of tourism and business.
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16th-22th june 2018 NATIONAL WEEKLY THE DBM WEEKLY

Why no action against those defaming CJ, asks HC

‘Participants of television debate shows must know their limits’
Justice N. Kirubakaran of the Madras High Court on Tuesday sought to know whether the
police had taken any action against those who made “derogatory” remarks or attributed
motives to Chief Justice Indira Banerjee over the split verdict delivered by the court in the
case pertaining to the disqualification of 18 AIADMK MLAs. The Chief Justice, on her part,
had upheld the disqualification. Presiding over a Division Bench along with Justice R.
Pongiappan, the senior judge told Additional Advocate General S.R. Rajagopal that he was
pained to come across such scathing attacks against the Chief Justice, and wanted to know
whether the police had taken any action so far against the individuals responsible.
“The honourable Chief Justice may not bother about such comments because of her
magnanimity but we cannot keep quiet. If this can happen to the Chief Justice of the highest
court of the State, what [is the guarantee that it] cannot happen to district judges, sub judges
and judicial magistrates? We have to protect the judiciary from such onslaught,” he said.
Wondering how a section of people could expect judgments to be delivered as per its whims
and fancies, the judge said, “It is a very sorry state of affairs. Even I was trolled on social
media for having asked how government school teachers could strike work and put the
students to inconvenience. Such things are not right.” Justice Kirubakaran also found fault
with television channels for allowing participants of debate shows to make “disparaging and
irresponsible” comments against the judiciary with complete impunity. He suggested that
every participant must be warned of severe consequences if he/she makes such comments
during live telecasts.
The observations were made during the hearing of a writ petition filed by a tenant, of a three
storey building in Mylapore, who had sought for a direction to Bar Council of Tamil Nadu and
Puducherry to take appropriate action against a group of lawyers for ransacking the building at
the instance of the landlord due to a rental dispute. The judges came down heavily on the
police for not having taken stern action against the erring lawyers and said: “It is shameful to
note that these so called advocates play the role of paid goondas.” They directed the AAG to
submit by June 25, details of action initiated so far to identify and prosecute the group of
lawyers. Further, stating that huge delays in disposal of rental control proceedings before
lower courts were the prime reason for landlords resorting to such violent modes of taking
possession of their properties, the Division Bench directed the Registrar of Small Causes
Courts in the city to provide elaborate data related to such cases. The details were ordered to
be placed before the court on the next date of hearing, by which time the AAG was asked to
find out the action taken against critics who had made personal comments against the Chief
Justice.

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16th-22th june 2018 REGIONAL WEEKLY
Odisha CM Naveen Patnaik
requests Centre to name airport
after Veer Surendra Sai
Odisha Chief Minister Naveen Patnaik has
requested the Centre to name the upcoming
airport at Jharsuguda district, in the western
part of the state, after eminent freedom
fighter Veer Surendra Sai. Born on January
23, 1809, Sai sacrificed his life fighting
against the British East India Company.In a
letter to Union Civil Aviation Minister
Suresh Prabhu, Patnaik said people in
western Odisha had been demanding that
the airport be named after Sai, who hailed
from the region. "Naming the airport after
him will be a fitting tribute to the legendary
son of the soil," Patnaik noted in the letter.
The Directorate General of Civil Aviation
(DGCA), on May 4, accorded aerodrome
license to the Jharsuguda airport, the
second in the state after Biju Patnaik
International Airport in Bhubaneswar.
Earlier, Odisha Chief Secretary A P Padhi,
too, sent a letter to the Union Civil Aviation
Ministry with the same request, sources
said.
Air Odisha will operate flights from
Jharsuguda to Bhubaneswar, Ranchi and
Raipur, fulfilling a long-standing demand
of the people of western Odisha.
The average price of tickets for these flights
would be around Rs 2,500.
Jharsuguda is one of the five airports in
Odisha that has been selected under the
Centre's flagship Ude Desh ka Aam
Naagrik (UDAN) scheme to provide
regional flight connectivity.
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THE DBM WEEKLY
Upgraded Pinaka rocket, with
enhanced range, successfully test-fired
The guided Pinaka was developed jointly by
ARDE, Pune, the RCI and DRDL, Hyderabad.
Balasore: An upgraded version of Pinaka rocket, with
a guidance system and an enhanced range, was
successfully test-fired from the Proof and Experiment
Establishment (PXE) at Chandipur in Odisha on
Wednesday. "Two rounds of tests have been
conducted and some more rounds have been
planned," said a defence source here. The earlier
Pinaka version, which was an unguided one, has now
been upgraded into a guided version, with a
navigation, guidance and control kit developed by the
Research Centre, Imarat (RCI), Hyderabad, he said.
The RCI comes under the Defence Research and
Development Organisation (DRDO). According to a
source in the DRDO, the conversion helped in
enhancing the range and accuracy of Pinaka. If its
range was earlier 40 km, it is more than 70 km now,
he said. "Radars, electro-optical systems and
telemetry systems at the defence range at Chandipur,
tracked and monitored the rocket all through its flight
path. The guided version is Pinaka mark-II, which
evolved from Pinaka mark-I," the source said. The
success of the guided Pinaka has reinforced the
technological strength of the country in converting
the unguided systems into weapons of high precision,
he added. The guided Pinaka was developed jointly
by the Armament Research and Development
Establishment (ARDE), Pune, the RCI, and the
Defence Research and Development Laboratory
(DRDL), Hyderabad.The PXE, Chandipur, provided
the range and launch support.
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16th-22th june 2018 GLOBAL WEEKLY THE DBM WEEKLY 9

42 more Indians detained for illegally entering USA

The Indian missions have been provided with names of the detained people in
Oregon and New Mexico.
At least 42 Indians are detained in a facility in New Mexico for illegal entry into the United
States, in the second such episode that has come to light this week. Earlier this week, it
emerged that 52 Indians were being detained in a federal prison in Oregon. The U.S agencies
enforcing immigration do not automatically notify missions of the countries from where the
detainees come.

Indian officials approached the Immigration and Customs Enforcement (ICE) after hearing
from community leaders, about the new batch of detainees. The ICE confirmed that at least 42
of the detainees at the Otero County Detention Centre in New Mexico, not far from the El
Paso border crossing from Mexico, are Indians.

It is likely that more cases of Indians being detained will emerge, as the Donald Trump
administration continues with its ‘zero tolerance’ enforcement of immigration laws. “We ave
established contacts with both the detention facilities. A consular official has visited the
detention facility in Oregon and another one is scheduled to visit the detention facility in New
Mexico. We are monitoring the situation,” the Indian Embassy here said in a statement. It is
unclear whether the detainees want any consular assistance at all or not. The detention centres
allow detainees to contact anyone they want, but they can refuse to meet or talk to visitors.
The news of the new batch of Indian detainees emerged from Indian Americans who spoke to
them in recent days. Indian officials tracking the developments said it was unclear when these
people were detained. The ICE has provided Indian missions with names of the detained
people in Oregon and New Mexico. Most of the detainees are single men Contrary to earlier
reports based on information U.S lawmakers who visited detainees in the Oregon prison, there
is no separation of families or children from their parents among Indian detainees. It,
however, remains unclear whether these detainees were taken in while illegally crossing into
America, or were picked up from communities.

“From what we understand now, these are single men. And they seem to have paid large
amounts of money to touts who helped them cross into the U.S,” a source familiar with the
developments but did not want to be named, told The Hindu. Most of the detainees are Sikhs
from Punjab and a handful are Christians from Andhra Pradesh. The U.S. lawmakers who met
detainees in Oregon had said they were seeking political asylum in America, claiming that
they were victims of religious persecution in India. If they are indeed seeking political
asylum, Indian missions would have no role to play. Asylum claims are adjudicated by the
U.S immigration authorities

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16th-22th june 2018 GLOBAL WEEKLY THE DBM WEEKLY

India, U.S. 2+2 Dialogue on July 6

Defence, External Affairs Ministers to hold talks with U.S. counterparts

The inaugural U.S.-India 2+2 Dialogue will take place on July 6, both countries announced
on Thursday.

Secretary of State Michael R. Pompeo and Secretary of Defense James Mattis will host
External Affairs Minister Sushma Swaraj and Defence Minister Nirmala Sitharaman in
Washington, D.C., for the dialogue that “will focus on strengthening strategic, security, and
defense cooperation as the United States and India jointly confront global challenges,” the
U.S. State Department said in a statement.

The new dialogue format was agreed to between the two sides during the visit of Prime
Minister Narendra Modi to Washington D.C. in June, 2017. “The two sides are expected to
share perspectives on strengthening their strategic and security ties and exchange views on a
range of bilateral, regional and global issues of mutual interest,” the Ministry of External
Affairs said in a statement.

The meeting takes place amid considerable divergence between the two countries on several
strategic and trade issues. The Donald Trump administration has been reassuring Indian
interlocutors that it will shield India from anti-Russia third party sanctions required by a U.S.
law. How this will be achieved remains unclear, and this issue will be top of the agenda in
the dialogue.

Tina Kaidanow, Principal Deputy Assistant Secretary of State for Political-Military Affairs,
who visited India recently, asked New Delhi to desist from conduct that might invite
sanctions. The U.S is pressing India to scale down its defence cooperation with Russia.
There are visible contradictions within the Trump administration on its Asia strategy also, as
trade nationalists in it have little patience for long-term strategic goals.

Negotiations on India’s proposed purchase of Guardian Avenger armed drones from the U.S.
is dependent on the progress of talks on the Communications, Compatibility, Security
Agreement (COMCASA) between the two countries. Both countries are exchanging notes on
an India-specific agreement, according to sources familiar with the developments. India has
found the text of the standard agreement that the U.S. signs with many countries too
intrusive.

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16th-22th june 2018 SPORTS WEEKLY THE DBM WEEKLY

FIFA 2018: Messi seeks redemption against Croatia

FIFA World Cup 2018
Coach Dalic has turned to midfielder Rakitic for ideas and tactics to stop his Barcelona teammate
Stung by his failure to score a penalty and avert a disappointing draw against Iceland, Argentina’s
brilliant forward and captain Lionel Messi would love to make amends in the World Cup Group D
match against Croatia on Thursday.
But the Croatians go into the game in ebullient mood after a comfortable 2-0 win over Nigeria, and
will look to add to the frustrations of Messi who has failed to replicate the glories of his Barcelona
career on the international stage. Croatia coach Zlatko Dalic has unashamedly turned to midfielder
Ivan Rakitic — a teammate of Messi’s at Barcelona — for ideas and tactics to stop him.
“I will use all the information I can,” he said, declaring Rakitic his temporary “assistant” before the
game. “There is no perfect way to stop Lionel Messi ... he is the greatest player in the world. But
while one excellent player can make a great result, a great team does the job much better ... We will
go into the game a bit more relaxed than them.” Those who followed closely Argentina’s shaky
qualification for the World Cup were not so shocked by the result against Iceland, and do not expect
it to roll over Croatia despite its abundance of individual talent. For reasons hard to fathom, it has
looked ponderous and lacking in creative thrust throughout coach Jorge Sampaoli’s year in charge
despite boasting Messi and other big names like Paulo Dybala, Gonzalo Higuain, Sergio Aguero
and Angel Di Maria.

Cristiano Ronaldo goal earns Portugal 1-0 victory over Morocco

Morocco became the first team to be eliminated from the tournament following their second loss.
Portugal captain Cristiano Ronaldo headed his team to a 1-0 victory over Morocco in their World
Cup Group B match on Wednesday to put them in the driving seat for a spot in the next round and
seal the North Africans' early exit.
Ronaldo took his tournament tally to four goals when he charged into the box, timing his run to
perfection in the fourth minute to power in his header.
The result put Portugal top of the group with four points and meant Morocco, who had a string of
clear scoring chances in the second half, became the first team to be eliminated from the
tournament following their second loss.

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16th-22th june 2018 WEEKLY DEBATE THE DBM WEEKLY

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