Rs.1 – Flat rate for STD phones

Finally, you will be able to pay a flat rate for STD calls. Rs. 1 per minute will be new rates for STD from March. No matter where, the hell you are in India you can call to any part of country with just Rs.1 pm. Both MTNL and BSNL – Government owned telecom companies planning to charge new rates from March with new reduced monthly rental. However, Reliance telecom (private firm) already announced such plans. This is yet another sign of booming economy. I just wish cost for broadband connection come down with high-speed Internet access for home users.

Sensex crossed 10000 marks

This is sign of booming Indian economy. Y’days jump made me little fortune too :). Around 3:30 pm my friend called me and gave me this nice news. He said it sensex is at 10003 mark. Many experts think it just represent the confidence of global institutional investors in our economy. Here is journey of sensex:

  • July-25-1990 : 1000
  • Jan-15-1992 : 2000
  • Mar-2-1992 : 3000
  • Mar-30-1992 : 4000
  • Dec-30-1999 : 5000
  • Jan-2-2004 : 6000
  • June-20-2005 : 7000
  • Sept-8-2005 : 8000
  • Nov-28-2005 : 9000
  • Feb-06-2006 : 10000

Our economy was open way back in 1990 to foreign investors. Online trading is also gaining popularity these days. At least over million+ Indians use this facility. The only question, “Is the market over-valued? Only time will tell… ;)

AMD to set up $3 bn chip plant in India

Advanced Micro Devices (AMD) has announced to setup chip plant and technology support for India’s first semiconductor manufacturing plant. The $3 billion plant will be set up by SemIndia, a group of overseas Indians.

Dr. Vinod K. Agarwal, is a Founder, President and CEO, SemIndia, Inc. He has made a rare transition from a distinguished researcher to a notable entrepreneur. With SemIndia, Inc., Dr. Agarwal and his colleagues, have a new enterprise to create “Semiconductors Made in India ”

Announcing the partnership, Mr Vinod Agarwal, Chief Executive Officer, SemIndia, said the project is expected to take off next year and will lead to a world-class industry in India to meet domestic and global demands of semiconductor chips for cell phones, PCs and set-top boxes.

Source: thehindubusinessline.com

Toyota Predicts Best Cars Could Come From India

Considering hardworking, well-educated people of India, it is not a big surprise for me. At a speech in New Delhi, Hiroshi Okuda the chairman of the world’s #2 automaker said that while Japanese automakers had remained stagnant, Thai and Indian suppliers were winning major quality awards and mentioned the possibility that the two nations could one day make the best automobiles in the world.
Source: jalopnik.com

HSBC opens fifth service centre in India

Financial services giant HSBC today opened its fifth group service centre in India- at the Salt Lake here- to provide superior services to its customers worldwide. This center will provide new 3000 jobs in finical sector.

‘The decision to open the fifth Indian centre in Kolkata was taken after considering the infrastructural development and presence of quality human resource in the area,” chief operating officer Alan Jebson said.

Sify sells out : Biggest dotcom deal since the tech bust

Sify Limited, India’s premier Internet, network and eCommerce services company, and Satyam Computer Services Limited, announced today the acquisition of Satyam’s 31.61% of Sify’s shares for US $5.60 per share in cash by Infinity Capital Ventures, LP, a company controlled by Silicon Valley entrepreneur Raju Vegesna. The total purchase price for the Satyam shares is US $62.6 million.
This is the biggest dot come deal in India post the dotcom crash. Sify was founded in 1998 with $5 million. Sify’s cybercafe and corporate IP/ISP services business are major revenue generator services. Read official press release online.