Govt plans $30 billion investment to develop airports

“Indian aviation industry has provided jobs to 1.7 million people and contributed 0.45% of the GDP,” Kalam said

New Delhi: Addressing the conference, former President A P J Abdul Kalam said aviation had played a key role in providing employment and made significant contributions to the GDP, reports PTI.

“Indian aviation industry has provided jobs to 1.7 million people and contributed 0.45% of the GDP,” Kalam said, adding that air transportation was growing rapidly in the country and would be sustained.

“There are 450 aircraft and 125 airports. Six metro airports are handling 70% of the traffic, which is leading to congestion, delays and wastage of precious jet fuel which leads to high pollution,” he said, adding that air traffic management has become an urgent issue to be resolved.

The former President said the aviation sector could promote health and spiritual tourism apart from general tourism.

Kalam also released a study about “Economic Impact of Delhi Airport”, conducted by National Council of Applied Economic Research (NCAER).

According to the study, Delhi airport operations contributed 0.45% (Rs 294.7 billion) to the national GDP and its contribution in Delhi's GDP was 13.35%.

“By 2020, the contribution is likely to reach Rs 909.5 billion (0.7% of the national GDP) and 22.2% of Gross State Domestic Product of Delhi,” the study said.

Delhi airport's operation sector contributed in 15,78,000 jobs, of which 64,000 were directly related to airport operations, 4,52,000 were indirect and 10,52,000 were the induced impact through tourism and investment, it said.

The construction activities at the Delhi airport contributed for 6,14,000 jobs of which 35,000 was direct contribution while 5,79,000 were indirect jobs, it said.

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Elecon Engineering Company Ltd receives orders worth Rs22.59 crore in March 2012

Elecon Engineering received major orders worth Rs22.59 crore  for supply of material handling equipments and spares

During the month of March 2012, Elecon Engineering Company has received some major orders worth Rs22.59 crore from various clients for supply of material handling equipments and spares for their various projects.

Elecon’s shares closed at Rs59.50 per share on the Bombay Stock Exchange, 1.02% up from the previous close.

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Ind-Swift Labs gets USFDA approval for 5 APIs for its Derabassi facility

The Derabassi manufacturing facility of Ind-Swift Laboratories Limited is one of the largest API manufacturing facilities in northern India
 
Ind-Swift Laboratories has added another achievement into its credit by getting the USFDA approval for its five Active Pharmaceutical Ingredients (APIs) manufactured at its Derabassi manufacturing facility. With this approval the Company has entered in the league of big pharma majors having multi product approval for its facilities. The facilities of the company were inspected in mid 2011. The Derabassi manufacturing facility of Ind-Swift Laboratories is one of the largest API manufacturing facilities in northern India.

The products for which the company has got the approval are: Naratriptan Hydrochloride (Anti-Migraine), Ropinirole Hydrochloride (Anti-Parkinson's disease), Donepezil Hydrochloride (Anti-Alzheimer's disease), Acamprosate Calcium (Anti-alcohol dependence) and Clarithromycin (Macrolide Antibiotic).

The worldwide market for these products is US$5 billion. The company's Derabassi facility is already accredited by key accreditation agencies like TGA, MHRA, COS, KFDA and PMDA. With this approval the company will be able to sell its products to US market.

Ind-Swift Laboratories’ shares closed at Rs98.65 per share on the Bombay Stock Exchange, 3.30% up from the previous close.

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