India’s union cabinet has approved the National Digital Communications Policy-2018 (NDCP-2018) and re-designation of the Telecom Commission as the ‘Digital Communications Commission’ on Wednesday (26).
With the new policy, the government aims to attract investment worth £75.97 billion, train one million manpower for new age skill, and expand the IoT ecosystem to five billion connected devices in the telecom sector.
The NDCP-2018 envisions supporting India’s transition to a digitally empowered economy and society by fulfilling the information and communication needs of citizens and enterprises by the establishment of a ubiquitous, resilient and affordable digital communications infrastructure and services, the Indian government said.
The key objectives of the policy are - provisioning of broadband for all, creating four million additional jobs in the digital communications sector, enhancing the contribution of the digital communications sector to eight per cent of India’s GDP from six per cent in 2017.
The policy also aims to propel India to the top 50 nations in the Information and Communication Technologies (ICT) development index of International Telecommunication Union (ITU) from 134 in recorded in 2017.
The new policy also has objectives in enhancing India’s contribution to global value chains and ensuring digital sovereignty. These objectives are expected to be achieved by 2022, India’s Ministry of Communications said in a statement.
The policy, inter-alia, aims to provide universal broadband connectivity at 50Mbps to every citizen, provide 1 Gbps connectivity to all Gram Panchayats (village councils) of the country by 2020 and 10 Gbps by 2022.
The policy further advocates for the establishment of a National Digital Grid by creating a National Fibre Authority, establishing common service ducts and utility corridors in all new cities and highway road projects.
The new National Digital Communications Policy-2018 has been formulated, in place of the existing National Telecom Policy-2012, to cater to the modern needs of the digital communications sector of India.
Mago Capital acquires the 145,000 square foot Notting Hill Gate Estate for £180million.
Prideview Group plays key role, completing £200million in London deals this year
Eastway Estates to back Mago Capital’s future property investments.
Prideview powers Mago’s expansion
Mago Capital has purchased the 145,000 square – foot Notting Hill Gate Estate in London for £180 million from Frogmore and Morgan Stanley. The purchase is part of its push to expand its £500 million Central London portfolio, through Prideview Group deal. The company has been actively buying premium properties across Central London.
For Prideview Group, this is another important achievement. The firm has completed over £200 million in Central London deals so far this year, becoming a significant player in the premium property market.
"We've always believed in the long-term value of prime London real estate, and this deal reinforces that," said Jesal Patel, Principal at Prideview Group. "We were able to move quickly with Mago Capital to secure an exceptional property in one of London's most iconic locations."
Ed de Stefano from Tydus Real Estate, told BE news, "The Notting Hill Estate provided a fantastic opportunity to acquire a 100 per cent prime, recently redeveloped, mixed-use estate, in one of central London's most affluent submarkets."
The deal involved several specialists including Tydus Real Estate, Freedman + Hilmi, and Brotherton, showing how complex such large property purchases can be. Prideview Group's investment arm, Eastway Estates, sits on Mago Capital's board and will support their future property acquisitions.
Looking forward, Prideview Group wants to manage £1 billion worth of property within the next 12 to 24 months. The firm is looking to work with investment funds, property agents, brokers, and other property companies to buy more assets.
By clicking the 'Subscribe’, you agree to receive our newsletter, marketing communications and industry
partners/sponsors sharing promotional product information via email and print communication from Garavi Gujarat
Publications Ltd and subsidiaries. You have the right to withdraw your consent at any time by clicking the
unsubscribe link in our emails. We will use your email address to personalize our communications and send you
relevant offers. Your data will be stored up to 30 days after unsubscribing.
Contact us at data@amg.biz to see how we manage and store your data.