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Asia Economy Watch
Friday, August 1, 2008

Indian government approves re-structured APDRP

by Jenny Hodge

Indian government has approved the proposal to continue Accelerated Power Development and Reforms Programme, APDRP during the XI Plan with the revised terms and conditions as a Central Sector Scheme. The Cabinet Committee on Economic Affairs approved the proposal at a meeting in New Delhi on Thursday.
The salient features of the re-structured programme worth Rs.515.77 [...]

Indian minister speaks on WTO mini-ministerial meet

by Ed Roberts

Mr. Kamal Nath, Indian Minister of Commerce & Industry, announced that the primary objective of the Doha Round is to put the development dimension of international trade on centre stage.
While talking to media persons in New Delhi, on the outcome of the recently concluded WTO Ministerial Conference at Geneva, the minister said that while there [...]

India to amend consumer protection act

by Jenny Hodge

Indian government is in the process of bringing about further amendments to the Consumer Protection Act’. This was announced by Mr. Sharad Pawar, Minister for Consumer Affairs, Food & Public Distribution and Agriculture.
While inaugurating the 24th Meeting of the Central Consumer Protection Council (CCPC) in New Delhi, the minister said, the proposed amendments would make [...]

Farm commodities prices shows stabilities

by Ed Roberts

Indian government had announced that retail prices of farm commodities monitored by the Department of Consumer Affairs at different locations have generally remained steady or shown mixed trend over the week ending July 25, 2008.
The government said in a notification that prices of wheat remained steady at all reporting centers except an increase at [...]

Wednesday, July 30, 2008

India’s RBI raised CRR, repo rate

by Jenny Hodge

India’s central bank, the Reserve Bank of India (RBI) on Tuesday increased the short-term indicative rate (REPO rate) by 50 basis points and, with effect from August 30, 2008, the Cash Reserve Ratio (CRR) by 25 basis points.
The increase in CRR is expected to shore up another Rs. 90 billion ($2.25 billion) from the banking [...]

India-Brazil-South Africa to cooperate in health sector

by Ed Roberts

India, Brazil and South Africa (IBSA) have agreed to collaborate on wide range of health related issues. The health ministers of three countries have started another round of cooperation.
Indian Health & Family Welfare Minister, Dr. Anbumani Ramadoss sought the support of India’s proposal for observing 2nd October every year as ‘World No Alcohol Day’. Dr. [...]

Tuesday, July 29, 2008

ASSOCHAM projects 7.6% GDP for fiscal 2009

by Jenny Hodge

India’s apex business body, the Associated Chambers of Commerce and Industry of India (ASSOCHAM) has revised India’s GDP growth for the fiscal 2009. A recent survey conducted by the ASSOCHAM Business Barometer (ABB) do not expect GDP growth to surpass 7.6 per cent rate.
A majority of 77 per cent of the 350 CEOs surveyed [...]

Steps to contain steel prices

by Ed Roberts

Indian government has announced that steel prices in respect of pig iron, ingots, rounds, TMT, Angles, plates, GP sheets and sponge iron have come down in the range of 3-6 %, during the last two weeks. Moreover, retail prices of HR coil, CR coil and wire rods have also shown a slight downward trend.
Big, [...]

Monday, July 28, 2008

Coal production in the month of June, 2008

by Jenny Hodge

The state owned Coal India Ltd. (CIL) and Singareni Collieries Company Ltd (SCCL) has registered a growth of about 4.64% in coal production at 31.32 million tonnes as against the AAP target of 34.26 million tones, during the month of June, 2008.
The actual coal production of CIL and SCCL during the the same period [...]

Second India-Japan strategic dialogue on economic issues

by Ed Roberts

Indian delegation led by Dr. D. Subbarao, Finance Secretary and Mr. M.Kohno, Deputy Minister, Ministry of Foreign Affairs of Japan, participated in the Second India-Japan Strategic Dialogue on Economic Issues, which was held in Tokyo, last week.
The two sides discussed on Japanese support for two flagship infrastructure projects, which include, Delhi-Mumbai Dedicated Freight Corridor; and [...]

Sunday, July 27, 2008

Food Processing sector has vital role in Indian economy

by Jenny Hodge

Indian Minister for Food Processing Industries, Mr. Subhodh Kant Sahai, says that the Agriculture and Food Processing are very important sectors of the Indian Economy. India holds tremendous advantages in agriculture for processing and value addition, contributing 19 per cent of country’s GDP.
While speaking at the CII organised Summit on Processed Food – Advantage [...]

Railway revenue earnings up during 1- 10 July

by Ed Roberts

Indian Railways has registered an increase of 21.49 per cent on originating basis during the period 1st July – 10th July 2008. It manage to earn Rs. 20.1418 billion ($503.5 million) , as compared to Rs. 16.5792 billion ($414.4 million) during the same period last year.
The total goods earnings reistered an increase of 22.32 per [...]

India seeks fair deal for developing countries in the WTO negotiations

by Jo Black

Indian Minister for Commerce and Industry, Mr. Kamal Nath, met Mr. Pascal Lamy, DG,WTO in New Delhi. The meeting between the two leaders is just ahead of the Mini Ministerial meeting of the World Trade Organization, which is scheduled in Geneva from July 21, 2008.
Mr. Nath articulated key Indian concerns on NAMA and agriculture [...]

Friday, July 25, 2008

India approves agreement on the establishment of SARSO

by Jenny Hodge

Indian federal government has given its approval for signing of the Agreement on the establishment of the South Asia Regional Standards Organisation (SARSO) during the forthcoming 15th SAARC Summit.
The 15th SAARC Summit to schedule be held in Colombo, capital city of Sri Lanka on 2nd - 3rd August 2008.
This Agreement is expected to enhance [...]

Training on Risk Based Performance Audit techniques

by Ed Roberts

Indian finance ministry is starting a training workshop on Risk Based Performance Audit techniques in New Delhi from Thursday July 25,2008.
Mr. V. N. Kaila, Controller General of Accounts, Ministry of Finance, will deliver the inaugural address at the opening day of the month long training, which is designed to equip key internal audit personnel deployed [...]

Thursday, July 24, 2008

Retail prices of food commodities show mixed trend

by Jenny Hodge

Indian federal government has announced that retail prices of farm commodities monitored by the Department of Consumer Affairs at different locations have generally remained steady or shown mixed trend over the week ending July 18, 2008.
Prices of wheat, Sugar and gram dal remained steady at all reporting centers except an increase at Lucknow, Delhi, Mumbai, [...]

CII calls for strong commitments on services from developed countries

by Ed Roberts

India’s Confederation of Indian Industry (CII) has called for strong market access proposals from developed countries on services trade in the ongoing mini-Ministerial of the World Trade Organisation (WTO), Services Signalling Conference scheduled for 24 July.
According to Mr. Chandrajit Banerjee, Director General, CII, for a balanced outcome of the Doha Round, the, must lead to [...]

Wednesday, July 23, 2008

Repayment of government stock on August 28

by Jenny Hodge

Indian federal government has announced that the outstanding balance of 4.88 % government stock, 2008 is repayable at par on August 28, 2008 and no interest will accrue thereon from the said date.
The government said in notification that in the event of a holiday being declared on August 28, 2008 by any state government [...]

DMRC’s revenues likely to exceed 194% by 2011

by Ed Roberts

The Associated Chambers of Commerce and Industry of India (Assocham), the highest body of the Chambers of Commerce of India, has revealed that revenue earnings of Delhi Metro Rail Corporation (DMRC) may shoot up by about 194% in next 3 years and touch Rs.21 billion ($525 million).
Assocham finding says that by that time DMRC [...]

Tuesday, July 22, 2008

CII mining mission to Australia

by Jenny Hodge

Confederation of Indian Industry (CII) is sending a 19 member Mining delegation to visit Australia from 20th to 28th July 2008 coinciding with the Queensland International Mining Exhibition (QME 2008) at Mackey, Australia. The visit of the delegation has been organized in cooperation with the Australian Trade Commission (Austrade).
The delegation will explore business opportunities for [...]

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