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Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Sep 14,2016

Net profit of Jindal Drilling & Industries declined 3.66% to Rs 9.48 crore in the quarter ended June 2016 as against Rs 9.84 crore during the previous quarter ended June 2015. Sales rose 11.24% to Rs 92.66 crore in the quarter ended June 2016 as against Rs 83.30 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales92.6683.3011
OPM %9.8912.74-
PBDT14.5518.68-22
PBT12.0915.01-19
NP9.489.84-4

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Cabinet approves signing of Air Services Agreement between India and Greece
Feb 22,2017

Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the signing of Air Services Agreement (ASA) between India and Greece.

The Agreement has the potential to spur greater trade, investment, tourism and cultural exchange between the two countries bringing it in tune with the developments in the civil aviation sector. It will provide enabling environment for enhanced and seamless connectivity while providing commercial opportunities to the carriers of both the sides ensuring greater safety and security.

The essential features of the ASA are as follows:

i. Both countries shall be entitled to designate one or more airline.

ii. The designated airlines of either country shall have the right to establish offices in the territory of the other country for the promotion end sale of air services.

iii. The designated airlines of the two countries shall have fair and equal opportunity to operate the agreed services on specified routes.

iv. The designated Airline of each party can enter into cooperative marketing arrangements with the designated carriers of same party, other party and third country,

v. As per the Route Schedule, the Indian carriers can operate to Athens, Thessaloniki, HerakIion and any 3 points to be specified later in Greece from points in India, whereas the carriers of Hellenic Republic can establish direct operation to 6 metros viz. New Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad and Chennal. Any points shall be available as intermediate and beyond point for the designated carriers of India as well as the designated carriers of Greece.

At present there is no ASA between India and Greece. The delegations of two sides met in New Delhi on 6-7th September, 2016 and finalized the text of ASA. The agreement is as per latest International Civil Aviation Organisation (ICAO) template keeping in view the latest developments in civil aviation sector and with an objective to improve the air connectivity between the two countries.

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Disa India gains after parent announces acquisition
Feb 22,2017

The announcement was made after market hours yesterday, 21 February 2017.

Meanwhile, the BSE Sensex was up 84.22 points, or 0.29%, to 28,845.81.

On the BSE, so far 364 shares were traded in the counter, compared with average daily volumes of 99 shares in the past one quarter. The stock had hit a high of Rs 4,900 and a low of Rs 4,800 so far during the day.

The stock hit a 52-week high of Rs 5,209 on 14 February 2017. The stock hit a 52-week low of Rs 3,555 on 30 March 2016. The stock had outperformed the market over the past 30 days till 21 February 2017, rising 10.23% compared with the 6.06% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 15.48% as against Sensexs 10.40% rise.

The small-cap company has equity capital of Rs 1.45 crore. Face value per share is Rs 10.

Disa India announced that its parent company that Norican Global A/S, Denmark (the ultimate holding company of Disa india) has entered into an agreement with Auctus Fund lll GmbH & Co. KG to purchase 100% of Auctuss shares in Light Metal Casting Solutions Group (LMCS). LMCS is a group of leading capital equipment manufacturers and service providers for the light metal casting industry, processing aluminium, magnesium and zinc alloys with major operations in Germany, Italy, Poland, China and the US.

Net profit of Disa India rose 52.6% to Rs 10.68 crore on 56.3% rise in net sales to Rs 81.73 crore in Q3 December 2016 over Q3 December 2015.

Disa India develops and manufactures a complete range of metal casting production solutions for the ferrous and non-ferrous foundry industries.

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Cabinet approves MoU between India and Australia for promotion and development of cooperation in civil aviation security
Feb 22,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for signing of a Memorandum of Understanding (MoU) between India and Australia for promotion and development of cooperation in civil aviation security.

The MoU will provide an opportunity to Indian aviation security authorities to share the expertise of their Australian counterparts and enhance the overall aviation security environment in India.

The MoU will provide compliance of international obligation as well as enhance promotion in the area of security cooperation between the two countries.

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Reliance Industries leads gainers in A group
Feb 22,2017

Reliance Industries jumped 9.58% to Rs 1,192.50 at 13:45 IST after the company said that Reliance Jio Infocomm has breached the 100 million customer mark in 170 days. The stock topped the gainers in the BSEs A group. On the BSE, 24.85 lakh shares were traded on the counter so far as against the average daily volumes of 2.18 lakh shares in the past two weeks.

Godrej Properties surged 4.2% at Rs 370.60. The stock was second biggest gainer in A group. On the BSE, 64,000 shares were traded on the counter so far as against the average daily volumes of 15,000 shares in the past two weeks.

Rajesh Exports advanced 3.59% to Rs 518.25. The stock was third biggest gainer in A group. On the BSE, 1.38 lakh shares were traded on the counter so far as against the average daily volumes of 49,000 shares in the past two weeks.

Jammu & Kashmir Bank gained 3.53% at Rs 74.75. The stock was fourth biggest gainer in A group. On the BSE, 2.23 lakh shares were traded on the counter so far as against the average daily volumes of 1.04 lakh shares in the past two weeks.

Axis Bank rose 3.46% to Rs 522.05. The stock was fifth biggest gainer in A group. On the BSE, 8.57 lakh shares were traded on the counter so far as against the average daily volumes of 4.96 lakh shares in the past two weeks.

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Ministry of Electronics and Information Technology (MeitY) launches Cyber Swachhta Kendra - Botnet Cleaning and Malware Analysis Centre
Feb 22,2017

Extending the Swachh Bharat campaign to the cyber world, the Minister of Electronics and Information Technology, Shri. Ravi Shankar Prasad, launched the Cyber Swachhta Kendra-Botnet Cleaning and Malware Analysis Centre for analysis of malware and botnets that affect networks and systems. This is a part of MeitYs Digital India initiative aimed at creating a secure cyber space by detecting botnet infections in India and to notify, enable cleaning and securing systems of end-users to prevent further infections. The centre is operated by the Indian Computer Emergency Response Team (CERT-In).The Centre aims to enhance coordination between the Government and industry in order to encourage cyber hygiene among all end-users and to create a secure and safe internet ecosystem in India.

Mr. Ravi Shankar Prasad, Honble Minister of Electronics and Information Technology said, n++India is going to take a lead in the digitization process of the world. India today joined the distinguished club of countries that have malware cleaning systems for the use of its citizens. As of now, we have 13 Banks & internet service providers using this facility. With the expanding digital footprint in the country, I see a surge in start-ups in the area of cyber security by the end of the yearn++

n++With the expanding role of Information and Communication technology across sectors and growth in volume of transactions and data exchange via internet, Cyber Security as reiterated by Honble Prime Minister, has emerged as the most critical factor when we move towards Digital India. Combating cyber threats is not something that can be done just by the government or an organisation or an individual alone. It requires a partnership approach. This centre being launched today will work in coordination with the Internet Service Providers and Industry. This Kendra will also enhance awareness among citizens regarding botnet and malware infection along with measures to be taken to secure their devicesn++, added Shri Ravi Shankar Prasad.

The Honble Minister made the following announcement at the launch of Cyber Swachhta Kendra:

n++ The National Cyber Coordination Centre to be operational by June 2017

n++ Sectoral CERTs to be created, that would operate under CERT-In

n++ CERTs are to be set up in the state level as well

n++ 10 more STQC (Standardisation Testing and Quality Certification) Testing Facilities to be set up

n++ Testing fee for any star-up that comes up with a digital technology in the quest of cyber security, to be reduced by 50%

n++ Empower designated Forensic Labs to work as the certified authority to establish cyber crime

The Centre will operate in close co-ordination and collaboration with Internet Service Providers (ISP) and Anti-Virus companies. Whenever an infection is detected, the Centre will send alerts on the infected IP addresses to the Internet Service Providers, who in turn will inform the end-user about the malware and botnet infections on their system. The Centre will also work in close collaboration with the Banks to detect malware infections in their banking network and enable remedial actions. The launch of the Centre will help the Internet service providers and the banks to keep their networks clean and prevent cases of cyber fraud and theft.

Ms. Aruna Sundararajan, Secretary, Ministry of Electronics and Information Technology said, n++With the increased penetration of ICT infrastructure in our country, the threat of cyber security has become more serious and visible. Today, the common man is confronted with hacking, spamming, malware and loss of data, yet public awareness about these issues and how to protect themselves is extremely low. There is a need to collaborate and come forth with solutions like the Cyber Swachhta Kendra in order to ensure a safe and secure cyber world for the citizens of India.n++

With the growth in digitalization and proliferation of broadband and mobile internet, security of end users systems is vital for enhancing their trust in ICT and online transactions. User information from the computer and the mobile devices can be compromised if systems get affected with Bots. Users therefore need to practice a rigid cyber hygiene regimen to prevent malware infections on their systems and to ensure security of their systems through suitable anti-malware tools. The Cyber Swachhta Kendra will provide free tools for detection and removal of malicious programmes. More than 3500 users have currently downloaded and tried the free bot removal tools till date. The end-user can log on to the Cyber Swachhta Kendra Portal (www.cyberswachhtakendra.gov.in) and clean their systems using the free cleaning tools. Users can also educate themselves about the various cyber threats and get information on the security tips in order to secure their computers, mobiles and prevent infections in their systems.

Given below are details of some of the tools released for citizens:

n++ USB Pratirodh -A desktop security solution, which protects from USB mass storage device threats.

n++ AppSamvid - A desktop solution which protects systems by allowing installation of genuine applications through white listing. This helps in preventing threats from malicious applications.

n++ M-Kavach - An indigenously developed solution to address the security threats in mobiles.

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Board of International Paper APPM approves change in Chairman
Feb 22,2017

International Paper APPM announced that the Board of Directors of the Company at its meeting held on 22 February 2017 has accepted the resignation of Rampraveen Swaminathan, Chairman and MD with effect from 27 April 2017 and appointed Donald Paul Devlin as Additional Director effect 22 April 2017 and as Chairman and MD effective 28 April 2017.

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AYUSH Minister to inaugurate the World Integrated Medicine Forum on Regulation of Homeopathic Medicine
Feb 22,2017

Minister of State (Independent Charge) for AYUSH, Shri Shripad Yesso Naik will inaugurate the World Integrated Medicine Forum on Regulation of Homeopathic Medicinal Products: National and Global strategies. This is the first-of-its-kind forum considering the increased perception of the international world towards India as a key player in the progress of the homoeopathy drug industry,. Drug lawmakers, regulators, manufacturers and pharmacopeial experts from various regulatory authorities, eminent scientific organisations and pharmaceutical industries from 25 countries, are participating in the two days forum to strategize the actionable aspects in the homoeopathic drug industry, which, in turn, will promote global harmonisation in the sector.

The event is organised by Ministry of AYUSH and Central Council for Research in Homeopathy (CCRH) and supported by Pharmacopoeia Commission for Indian Medicine & Homoeopathy (PCIMH) & Central Drugs Standard Control Organization (CDSCO).

Major points of discussion will include current regulatory status in different countries; practices and possible trade opportunities in key countries worldwide; possible solutions to regulatory challenges; building knowledge and network to deal more efficiently with challenges at national and global level and a strategic perspective on the possibilities and limitations of what can be achieved at a national level via further international collaboration and harmonization. One of the highlights of the forum will be exchange of Memorandum of Understanding among Homoeopathic Pharmacopoeia Convention of the United States (HPCUS) and Indian bodies - Pharmacopoeia Commission for Indian Medicine & Homoeopathy (PCIM&H) and Central Council for Research in Homoeopathy (CCRH) on cooperation in the field of Homoeopathic Medicine. It is hoped that this agreement will be a benchmark for many more agreements to follow with the aim to develop and harmonise homoeopathic pharmacopoeias and to strengthen regulatory provisions for homoeopathy in the whole world.

In India, homoeopathic medicines are regulated by Drugs & Cosmetics Act & Rules. All pharmaceutical industries are legally bound to comply with these rules, which, in turn, assures safety and quality of homoeopathic medicines. Further, these industries adhere to Good Manufacturing Practices (GMP) that further assure accredited production, packaging and distribution. In that sense, India has a relatively well-established regulatory framework for Homoeopathy. However, the implementation of these Acts and Rules are sometimes challenging at the end of the pharmaceutical industries, and despite their best efforts to comply, some practical challenges remain that come in their way.

On the other hand, the international scenario of regulations of homoeopathic medicinal products is also varied and in many countries, the regulatory provisions are either non-existent or minimalist, thereby advocating reforms in policies for wider accessibility of quality homoeopathic products.

Homoeopathy is one of the most followed medical systems in India and its strength lies in the fact that its medicines are gentle, safe as well as cost-effective. In the era of growing adverse drug reactions and auto-immune and lifestyle-related illnesses, Homeopathy has a crucial role to play in the well-being of mankind. The use of homoeopathy is steadily growing in India and as per an analysis by Ministry of AYUSH, this sector exhibited an annual growth rate of 26.3% in the past year, the highest among the other AYUSH modalities.

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DCW jumps after lifting lock-out at Tamil Nadu factory
Feb 22,2017

The announcement was made during market hours today, 22 February 2017.

Meanwhile, the S&P BSE Sensex was up 144.66 points or 0.5% at 28,906.25.

On the BSE, 5.11 lakh shares were traded on the counter so far as against the average daily volumes of 3.10 lakh shares in the past one quarter. The stock had hit a high of Rs 33.60 and a low of Rs 30.90 so far during the day.

The stock had hit a 52-week high of Rs 40 on 21 October 2016 and a 52-week low of Rs 19.20 on 29 February 2016. The stock had underperformed the market over the past one month till 21 February 2017, sliding 13.49% compared with the Sensexs 6.39% rise. The scrip had, however, outperformed the market over the past one quarter, advancing 16.04% as against the Sensexs 11.63% rise.

The small-cap company has equity capital of Rs 44.20 crore. Face value per share is Rs 2.

DCWs management has reached settlement with the workers union of the companys factory at Sahupuram, Tamil Nadu and lock out has been withdrawn today, 22 February 2017. The manufacturing operations also commence today, 22 February 2017, it said.

DCWs net profit spurted 5555.6% to Rs 5.09 crore on 9% growth in net sales to Rs 299.45 crore in Q3 December 2016 over Q3 December 2015.

DCW is an industry pioneer with a strong presence in the chlor-alkali, synthetic rutile and PVC business segments.

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Volumes jump at Reliance Industrial Infrastructure counter
Feb 22,2017

Reliance Industrial Infrastructure clocked volume of 10.03 lakh shares by 12:25 IST on BSE, a 20.85-times surge over two-week average daily volume of 48,000 shares. The stock rose 14.83% to Rs 464.50.

Hindustan Unilever notched up volume of 15.93 lakh shares, a 18.41-fold surge over two-week average daily volume of 87,000 shares. The stock fell 0.57% to Rs 857.90.

Reliance Industries saw volume of 20.23 lakh shares, a 9.27-fold surge over two-week average daily volume of 2.18 lakh shares. The stock rose 9.82% to Rs 1,195.10.

ITD Cementation India clocked volume of 5.40 lakh shares, a 8.24-fold surge over two-week average daily volume of 65,000 shares. The stock fell 5.75% to Rs 151.55.

HOV Services saw volume of 7.55 lakh shares, a 6.20-fold rise over two-week average daily volume of 1.22 lakh shares. The stock rose 12.01% to Rs 194.

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Board of EID Parry (India) approves investment of Rs 231 crore in subsidiaries
Feb 22,2017

EID Parry (India) announced that the Board of Directors of the Company at their meeting held on 21 February 2017 accorded their approval for the following:-

1. Investments held in the Cumulative Redeemable Preference Shares in Parry Sugars Refinery India (PSRIPL), a Wholly Owned Subsidiary aggregating to Rs. 141 crore to be converted into equity shares of PSRIPL.

2. Investment of an amount of Rs. 90 Lakh in the Equity Share Capital of Parrys Investments, a wholly owned subsidiary.

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Asian Granito India gains on plans to increase quartz stone making capacity
Feb 22,2017

The announcement was made during market hours today, 22 February 2017.

Meanwhile, the S&P BSE Sensex was up 121.18 points, or 0.42%, to 28,883.10.

High volumes were witnessed on the counter. On the BSE, 1.36 lakh shares were traded on the counter so far as against the average daily volumes of 51,370 shares in the past one quarter. The stock had hit a high of Rs 290.40 and a low of Rs 281.90 so far during the day.

The stock had hit a record high of Rs 304 on 28 September 2016 and a 52-week low of Rs 123 on 29 February 2016. The stock had outperformed the market over the past one month till 21 February 2017, advancing 11.74% compared with the Sensexs 6.39% rise. The scrip had also outperformed the market over the past one quarter advancing 57.64% as against the Sensexs 11.63% rise.

The small-cap company has equity capital of Rs 30.09 crore. Face value per share is Rs 10.

Asian Granito lndia (AGIL) said that it is investing Rs 20 crore in setting up a third line of quartz stone at its Himmatnagar plant dedicated for exports. Post expansion, it will be doubling the capacity of its quartz stone to 5.28 lakh square meter per annum in financial year ending 31 March 2018 (FY 2018) from existing 2.64 lakh square meter.

The company expects exclusive export turnover of Rs 60 crore in the first year of operation from the new facility. The current orders in hand for new quartz plant is Rs 6 crore. Quartz as a segment contributes Rs 45 crore sales currently which company expects to increase to Rs 125 crore over the next 2-3 years.

The new expansion is likely to fetch additional sales of Rs 60 crore in FY 2018. Target market for the new quartzplant will be counter tops and interiors (floor) in kitchen, malls, airports, high end hotels and other places. Replacement of counter top is the largest market for engineered quartz in US, company said.

AGILs current capacity of quartz stone stands at 800 square meter per day from its existing two lines which it plans to double to 1,600 square meter per day. It is also launching 20 mm & 30 mm thickness slabs of quartz in the large format of 10.5 feetX5.25 feet. Commercial production of the new range will start in the month of April 2017.

Mr. Mukesh Patel, Managing Director, Asian Granito lndia, said, post expansion, revenue contribution from quartz segment is expected to double from 4.3% to 9% of the total sales and it is also targeting to increase share in export quartz market for 2017-18.

Quartz is a premium product and hence it also expects to earn a healthy earnings before interest, tax, depreciation and amortization (EBITDA) margin in the range of 30-32% from the expanded facility, he added.

Asian Granito Indias consolidated net profit rose 33.4% to Rs 9.34 crore on 4.3% increase in net sales to Rs 245.67 crore in Q3 December 2016 over Q3 December 2015.

Asian Granito India is one of the largest ceramic companies in India. The company manufactures and markets interior & infrastructure products like vitrified wall & floor tiles, porcelain, natural marble composite and quartz.

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DCW commences manufacturing operations at factory in Sahupuram, Tamil Nadu
Feb 22,2017

DCW announced that Management has reached settlement with the Workers Union of the Companys factory at Sahupuram, Tamil Nadu and lock out has been withdrawn from 22 February 2017. The manufacturing operations also commence from 22 February 2017.

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Infosys declines amid ongoing tussle over whistle-blowers complaint in Panaya acquisition
Feb 22,2017

Meanwhile, the S&P BSE Sensex was up 137.47 points or 0.48% at 28,899.06.

On the BSE, 78,000 shares were traded on the counter so far as against the average daily volumes of 2.87 lakh shares in the past one quarter. The stock had hit a high of Rs 1,015 and a low of Rs 994.50 so far during the day.

The stock had hit a record high of Rs 1,278 on 3 June 2016 and a 52-week low of Rs 900.30 on 9 November 2016. The stock had outperformed the market over the past one month till 21 February 2017, advancing 6.76% compared with the Sensexs 6.39% rise. The scrip had, however, underperformed the market over the past one quarter, gaining 11.17% as against the Sensexs 11.63% rise.

The large-cap company has equity capital of Rs 1148.47 crore. Face value per share is Rs 5.

Infosys issued clarification during market hours today, 22 February 2017 on the status of the whistle blower complaints received by the company as reported in certain sections of the media. This whistle blowers complaint has been placed before the audit committee as is the normal practice, in accordance with the companys Whistle Blower Policy, and the audit committee is taking steps to initiate an investigation into the allegations made, Infosys said.

In a press release issued on its website on 20 February 2017, Infosys strongly refuted and denied the allegations made in the anonymous whistleblower letter that has been featured in certain sections of the media. The assertions made in the letter are libelous and are aimed at tarnishing the image of Infosys and its management, the company said.

The letter alleges that Infosys acquired Panaya at a 25% margin to the valuation of Series E investor that came in on 8 January 2015. Series E investor was a minority shareholder (less than 15%) and was towards preferred stock, whereas Infosys acquisition in Panaya is for 100% stake, the company said.

Infosys stated that no member of the Infosys management team was involved in any prior investments in Panaya, and insinuations that anyone from the management team at Infosys benefitted from this acquisition are misleading and slanderous.

Regardless of the malicious intent of this anonymous letter, the company will pursue its normal course of action and investigate the charges made, it said.

In the case of Panaya, all the requisite steps were followed, Infosys said. The valuation was done by Deutsche Bank, the financial and tax due diligence was done by one of the Big four firms and legal diligence was done by a leading law firm - Kirkland & Ellis, it said. The management presented the rationale behind the acquisition - including synergies and business potential to the Board, along with necessary reports and findings. The Board deliberated the acquisition, and unanimously approved the investment which was well within the valuation range determined by the evaluator, Infosys said.

The last investment (series E investment in 8 January 2015) in Panaya was not a strategic investment whereas Infosys investment in Panaya was a strategic investment and it had significant synergies in acquiring a controlling stake in Panaya, Infosys said. The valuation of investment in preferred stock vs. 100% strategic acquisition cannot and should not be compared, it added. In addition, there is a premium for acquiring a controlling stake, the company said.

Infosys said that the allegation that the $20 million invested in Panaya before the acquisition was taken out and distributed to the shareholders is also untrue.

Panaya was looked at as an acquisition candidate based on its strategic fit, Infosys said. There is absolutely no conflict of interest due to Dr. Sikkas past professional association with Dr. Plattner, it added.

It may be noted that Infosys is the cynosure of investors over the past few days amid ongoing corporate governance dispute between founders and board members of the IT bellwether over various issues ranging from pay package of its CEO Vishal Sikka to that of 30-month severance pay being given to former chief financial officer Rajiv Bansal, which was raised by the companys founder-promoter N R Narayana Murthy along with some of the other founder promoters of the company.

On a consolidated basis, Infosys net profit rose 2.82% to Rs 3708 crore on 0.21% decline in net sales to Rs 17273 crore in Q3 December 2016 over Q2 September 2016.

Infosys is one of the leading information technology outsourcing services providers. The company provides business consulting, information technology and outsourcing services.

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Punjab & Sind Bank intimates of bank strike
Feb 22,2017

Punjab & Sind Bank announced that Indian Banks Association has informed that convener of United Forum of Bank Unions (AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW, NOBO) has served a notice that all the constituent unions have proposed to go on strike on 28 February 2017.

If the strike materialises, a certain section of the Banks employees may participate in strike on the said date, in which case, it is likely that the normal functioning of the branches / offices of the Bank may get affected.

The Bank is taking all necessary steps in terms of the existing guidelines to deal with the strike and for smooth functioning of Banks branches / offices.

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Ministry of External affairs enquire missions to promote Ayush, Ayurveda: V.K. Singh
Feb 22,2017

Ministry of External affairs (MEA) have asked all chairs and missions to take a serious look to promote Ayush and Ayurveda, said (Dr) V.K. Singh (Retd), Minister of State, Ministry of External Affairs, Government of India at an ASSOCHAM event.

n++On part of Ministry of External affairs (MEA), we have asked all our chairs and missions to promote Ayush and Ayurveda because 25 missions have got Ayush facilitation centers and these are being managed in a manner in which we would like them to become much greater facilitation center then what they are today,n++ said Mr Singh.

He said that Ministry of External Affairs (MEA) is aware of need for simplifying VISA procedures and open for the suggestions and recommendations to make things better for people who are coming.

n++Misuse and abuse creates problems for any new initiative,n++ he added. To ensure that things are made as transparent as possible and things are made in this manner in which they cannot be misused, said Mr. Singh.

n++This is field got tremendous potential which can make India the hub of medical facilities which will help India as well as allow rest of the world to depend on Indian++, said Mr. Singh.

Mr Singh also said that we have treatments both traditional medical field and as well as alternative therapies that are perfected and cause the traditional Indian medicinal practices. There are people in continents that look towards India as a country which gives affordable medical care.

The tourist looks for the facility which is at par best in the world that is hygiene, friendly staff who can guide you correctly and the doctors who are not going to overcharge you, added Mr. Singh.

In his address at the ASSOCHAM summit, Mr Amarendra Khatua, Secretary (Special Assignment), MEA and DG, ICCR, said that today, today, the pharma market is about US$ 40 billion in 2017-18, the average growth rate is 14% per year at CAGR and in real terms medical visa arrivals are increased almost at the rate of 80% every year since 2010. The MEDiTravel industry now needs concentrated and coordinated approach for growth, revenue generation and quality service.

Medical tourism in exports not only results in increased foreign exchange earnings, increased tourism revenue earning, attracts tourism investment in the sector, creation of employment, improves standard and accountability in the local health services and facilities and growing awareness, added Mr. Khatua.

n++It also creates great India brand. The brand properly packaged and marketed by a study, is estimated to have a market size of a US $ 60 billion per yearn++.

He also highlighted the action plan like we must have a focussed market development programme in the target countries through regional insurance product and cross border payment arrangements.

Introduction of polit schemes for specialised electric treatments and procedures and sell them specialised trade fairs or promotional events abroad. Need to have a study of setting up medi-value EPZs in different parts of India, said Khatua.

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