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Adani Realty has emerged as the ‘preferred bidder’ for the redevelopment contract of the 24-acre Bandra Reclamation land parcel in Mumbai. The Maharashtra State Road Transport Corporation (MSRDC) initiated the bidding process, and Adani Realty’s proposal, offering the highest financial bid, is currently pending final approval by the MSRDC Board.

Adani Realty’s bid, providing 22.79 percent revenue to MSRDC, surpassed the bid by Larsen and Toubro (L&T), which offered 18 percent. Notably, despite L&T boasting a stronger net worth of approximately ₹84,000 crore compared to Adani’s ₹48,000 crore, the higher bid secured preference.

The Bandra Reclamation land, with a potential development area of 45 lakh square feet, holds an estimated value of around ₹30,000 crore. The bidding process, based on a revenue-sharing model, saw Adani Realty aligning with the government’s interest in maximizing revenue for infrastructure projects.

Anil Kumar Gaikwad, Vice Chairman and MD of MSRDC, emphasized the openness and transparency of the bidding process, dispelling allegations of favoritism. Gaikwad highlighted that both Adani Realty and L&T met the stringent criteria for technical and financial capability.

Gaikwad stated, “Since the MSRDC bids are of a revenue-sharing model, the developer who offers the maximum percentage of revenue and is beneficial to the government will be the obvious choice. Adani has offered us a higher bid, so he is our preferred choice. We need resources and funds for our new and ongoing infra projects.”

If approved, Adani Realty will undertake responsibilities such as fund allocation, securing clearances and permissions, and making a minimum payment of ₹8,000 crore to MSRDC as a benchmark amount. The revenue-sharing model designates a 22.79 percent share for MSRDC, allowing for additional revenue sharing if the project’s income exceeds expectations.

The bidding process, which included stringent criteria such as a minimum consolidated net worth of ₹15,000 crore by March 31, 2023, drew the participation of 18 prominent players in the real estate sector. However, only three, including Adani Realty and L&T Realty, responded to the bidding process.

While some concerns were raised regarding the eligibility norms favoring a select few, MSRDC emphasized that the criteria were established to address concerns and ensure the financial capability of developers, considering the substantial financial commitment of ₹8,000 crore over 9 to 14 years to MSRDC.

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New Delhi: In a monumental leap for India’s infrastructure, Prime Minister Narendra Modi is set to inaugurate the Atal Bihari Vajpayee Sewri-Nhava Sheva Atal Setu today. The Mumbai Trans Harbour Link, dubbed the Atal Setu, stands as the nation’s longest sea bridge, connecting Sewri in Mumbai to the Nhava Sheva area in Raigad district at a cost of ₹17,840 crore.

This historic project, initiated with the laying of its foundation stone by PM Modi in December 2016, pays tribute to the late former Prime Minister Atal Bihari Vajpayee. The Atal Setu spans an impressive 21.8 kilometers, promising to revolutionize travel between the two locations by reducing the journey time from two hours to a mere 15-20 minutes.

Metropolitan Commissioner of MMRDA, Dr. Sanjay Mukherjee, highlighted the technological marvel of the Atal Setu, stating, “This is India’s longest bridge built on the sea, employing cutting-edge technologies never before seen in the country. Notably, the lights used in this bridge are designed to preserve the aquatic environment.”

What’s Allowed:

Four-wheelers, including cars, taxis, light motor vehicles, minibuses, and two-axle buses, will have a maximum speed limit of 100 kmph.

Speed restrictions of 40 kmph will be implemented during the ascent and descent of the bridge.

What’s Not Allowed:

Motorbikes, auto rickshaws, and tractors are restricted from accessing the sea bridge.

Vehicles such as motorcycles, mopeds, three-wheelers, animal-drawn vehicles, and slow-moving vehicles are prohibited.

Multi-axle heavy vehicles, trucks, and buses heading towards Mumbai will not have entry access on the Eastern Freeway.

As the Atal Setu opens its lanes, it symbolizes not just a bridge over the Arabian Sea but also a bridge into a more connected and efficient future for Mumbai and Raigad district. This architectural marvel marks a significant milestone in India’s relentless pursuit of infrastructural excellence.

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New Delhi, India – Prime Minister Narendra Modi will virtually inaugurate the third edition of the Global Maritime India Summit (GMIS) 2023 on October 17, 2023. The summit will be held from October 17-19 at the MMRDA Grounds in Mumbai.

The GMIS is a global initiative aimed at promoting the Indian maritime sector. The summit brings together stakeholders from the government, industry, and academia to discuss and debate the latest trends and developments in the maritime sector.

The theme of GMIS 2023 is “Building a Sustainable Blue Economy.” The summit will focus on key areas such as:

  • Port development and logistics
  • Maritime safety and security
  • Marine environment and sustainability
  • Maritime education and training
  • Blue economy opportunities

The GMIS 2023 is expected to be attended by over 10,000 delegates from over 100 countries. The summit will also feature a number of exhibitions and networking events.

Here are some headlines about PM Modi to virtually inaugurate third edition of Global Maritime India Summit:

  • PM Modi to Virtually Inaugurate Global Maritime India Summit 2023
  • PM Modi to Give Boost to Maritime Sector at GMIS 2023
  • PM Modi to Focus on Sustainable Blue Economy at GMIS 2023
  • PM Modi to Call for Global Collaboration in Maritime Sector at GMIS 2023
  • PM Modi to Set New Agenda for Maritime Sector at GMIS 2023

The GMIS 2023 is a significant event for the Indian maritime sector. It is an opportunity to showcase India’s maritime strengths and to attract investment in the sector. The summit is also an opportunity to promote India’s vision for a sustainable blue economy.

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India, the world’s third-largest emitter of greenhouse gases, is poised to play a leading role in the global carbon credit market. In June 2023, the Indian government launched the Carbon Credit Trading Scheme (CCTS), which is expected to boost the country’s carbon trading market to $10 billion by 2030.

The CCTS is a compliance-based market that will require designated consumers, such as large energy-intensive industries, to reduce their carbon emissions or purchase carbon credits from entities that have reduced their emissions. The scheme is expected to incentivize industries to invest in clean energy technologies and reduce their emissions footprint.

In addition to the CCTS, India is also developing a voluntary carbon market. The voluntary carbon market is a market where entities can buy and sell carbon credits on a voluntary basis. The voluntary carbon market is expected to play a key role in helping India achieve its net-zero emissions target by 2070.

The growth of India’s carbon credit market is being driven by a number of factors, including:

  • The increasing demand for clean energy and the growing awareness of climate change.
  • The government’s commitment to reducing carbon emissions and achieving net-zero by 2070.
  • The launch of the CCTS and the development of the voluntary carbon market.
  • The availability of a large pool of carbon credits from renewable energy projects, energy efficiency projects, and afforestation projects.

The growth of India’s carbon credit market is expected to have a number of benefits, including:

  • Reduced carbon emissions and improved air quality.
  • Investment in clean energy technologies and infrastructure.
  • Job creation and economic growth.
  • Support for sustainable development.

India’s carbon credit market is still in its early stages of development, but it has the potential to be one of the largest and most dynamic carbon markets in the world. The growth of the market will depend on a number of factors, including the government’s policy support, the availability of financing, and the participation of private sector players.

However, the potential benefits of the carbon credit market are significant, and it is likely to play a key role in helping India achieve its climate goals.

Author: Prof. Ganesh Channa (President World Environment Council)

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In a Great collaboration, Reliance Industries, led by billionaire Mukesh Ambani, and US technology giant NVIDIA have joined forces to establish advanced AI supercomputing infrastructure in India. This strategic partnership aims to develop a computing environment more powerful than any supercomputer currently operating in the country, significantly enhancing India’s AI capabilities.
The announcement follows a meeting between NVIDIA’s founder and CEO, Jensen Huang, and Prime Minister Narendra Modi, underscoring the significance of this venture.
NVIDIA, which initiated operations in India in 2004 and has four engineering development centers across the country, is set to contribute its cutting-edge technology, including the GH200 Grace Hopper Superchip and DGX Cloud, an AI supercomputing cloud service. The GH200 superchip represents a revolutionary leap in computing architecture, offering exceptional performance and massive memory bandwidth.
One of the primary objectives of this collaboration is to develop a large language model tailored to India’s diverse languages and designed for generative AI applications. This AI infrastructure will serve as the cornerstone for Reliance Jio Infocomm, Reliance Industries’ telecommunications arm, which aims to harness the power of AI to create applications and services for its 450 million Jio customers.
The applications of AI in India are far-reaching, from enabling rural farmers to access weather information and crop prices in their local languages to providing expert medical diagnoses through scalable AI solutions. Additionally, AI can play a pivotal role in predicting and managing cyclonic storms using decades of atmospheric data.
This AI infrastructure will be hosted in AI-ready computing data centers that will eventually expand to a capacity of 2,000 MW. Jio will manage the execution and implementation, drawing on its extensive experience in mobile telephony, SG spectrum, fiber networks, and more.
Jensen Huang, CEO of NVIDIA, expressed his enthusiasm for the partnership, stating, “India has scale, data, and talent. With the most advanced AI computing infrastructure, Reliance can build its own large language models that power generative AI applications made in India, for the people of India.”
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, emphasized the transformative potential of this venture, saying, “As India advances from a country of data proliferation to creating technology infrastructure for widespread and accelerated growth, computing and technology super centers like the one we envisage with NVIDIA will provide the catalytic growth just like Jio did to our nation’s digital march.”
Akash Ambani, Chairman of Reliance Jio Infocomm, added, “Together, we will develop a state-of-the-art AI infrastructure that is secure, sustainable, and deeply relevant across India, accelerating the nation’s journey towards becoming an AI powerhouse.”
This collaboration represents a significant milestone in India’s technological landscape, as it endeavors to harness the full potential of artificial intelligence to drive innovation, growth, and inclusivity across various sectors of the economy.

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Mumbai: Industrialist Ratan Tata was conferred with Maharashtra’s first “Udyog Ratna” award by the Maharashtra government. The award was presented to him at his residence by Chief Minister Eknath Shinde, Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar.

The Udyog Ratna award is a prestigious honor instituted by the Maharashtra government to recognize outstanding contributions to the industrial sector.

Ratan Tata, the chairman emeritus of Tata Sons, became the inaugural recipient of this award. The award was presented to him in recognition of his significant contributions to the country’s development and his exemplary leadership in the industrial sector.

The ceremony took place at Ratan Tata’s residence, where he was felicitated by Chief Minister Eknath Shinde and Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar. The award acknowledges Ratan Tata’s immense impact on the industrial landscape of Maharashtra and his role in promoting economic growth and innovation.

Ratan Tata is widely regarded as one of India’s top industrialists and philanthropists, known for his visionary leadership and commitment to social causes.

Overall, the Udyog Ratna award bestowed upon Ratan Tata recognizes his exceptional contributions to the industrial sector and his significant role in shaping the economic landscape of Maharashtra.

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