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Thursday, July 3, 2008
The Confederation of Indian Industry (CII), which plays a proactive role in Indian industry development, is sending a 10-member business delegation to Portugal and Spain. The delegation, which is to strengthen the existing economic and bilateral relations and discuss business opportunities, will cover three cities and meet business leaders and government officials in Lisbon, Madrid and Barcelona. CII's MOU partners AIP (Associacao Industrial Portuguesa), will organise the Lisbon meetings and CEOE (Confederation ...
CII sends delegation to Portugal and Spain
by Jenny HodgeThe Confederation of Indian Industry (CII), which plays a proactive role in Indian industry development, is sending a 10-member business delegation to Portugal and Spain. The delegation, which is to strengthen the existing economic and bilateral relations and discuss business opportunities, will cover three cities and meet business leaders and government officials in Lisbon, Madrid and Barcelona. CII's MOU partners AIP (Associacao Industrial Portuguesa), will organise the Lisbon meetings and CEOE (Confederation ...
Wednesday, July 2, 2008
India and Cuba have signed an agreement for cooperation in the oil and gas sector. The agreement called 'India Cuba Hydrocarbon Agreement' was signed in Madrid on Tuesday, in the presence of the Indian Minister of Petroleum and Natural Gas, Mr. Murli Deora, and his counterpart from Cuba, Ms Yadira Garcia Vera, Minister of Basic Industry. The meeting between the two ministers was held in Madrid, Spain, on the occasion of ...
India and Cuba finalise Hydrocarbon agreement
by Ed RobertsIndia and Cuba have signed an agreement for cooperation in the oil and gas sector. The agreement called 'India Cuba Hydrocarbon Agreement' was signed in Madrid on Tuesday, in the presence of the Indian Minister of Petroleum and Natural Gas, Mr. Murli Deora, and his counterpart from Cuba, Ms Yadira Garcia Vera, Minister of Basic Industry. The meeting between the two ministers was held in Madrid, Spain, on the occasion of ...
Infrastructure sector hit by attrition
by TC MalhotraA survey conducted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) reveals that key infrastructure sectors, like energy and steel, have reported attrition rate to the extent of 40%. ASSOCHAM President, Mr. Sajjan Jindal said that a large number of ASSOCHAM constituents in the energy sector and the entire steel alliance are reporting shortages of experienced, skilled and qualified professionals to an extent of 40%, as these sectors ...
Tuesday, July 1, 2008
India’s Petroleum and Natural Gas Ministry has received a total of 181 bids from 96 domestic and global oil majors including Oil and Natural Gas Corporation, Reliance Industries, Essar Oil, British Petroleum and BHP Billiton, for 45 oil and gas exploration blocks under the seventh round of New Exploration Licensing Policy (NELP-VII). However, the government could not find bidders for 12 of the 57 blocks that were on offer. The ...
181 bids for oil exploration blocks
by Jenny HodgeIndia’s Petroleum and Natural Gas Ministry has received a total of 181 bids from 96 domestic and global oil majors including Oil and Natural Gas Corporation, Reliance Industries, Essar Oil, British Petroleum and BHP Billiton, for 45 oil and gas exploration blocks under the seventh round of New Exploration Licensing Policy (NELP-VII). However, the government could not find bidders for 12 of the 57 blocks that were on offer. The ...
Monday, June 30, 2008
India’s apex business body, the Associated Chambers of Commerce and Industry of India (ASSOCHAM) has urged the World Trade Organisation (WTO) to remove an anti concentration clause from any revision of the Non Agricultural Market Access (NAMA) text. Assocham has written to the WTO and Indian commerce ministry saying that the anti concentration clause is being forced to be inserted in revised NAMA text by developed country members of WTO for ...
ASSOCHAM opposes anti concentration clause
by TC MalhotraIndia’s apex business body, the Associated Chambers of Commerce and Industry of India (ASSOCHAM) has urged the World Trade Organisation (WTO) to remove an anti concentration clause from any revision of the Non Agricultural Market Access (NAMA) text. Assocham has written to the WTO and Indian commerce ministry saying that the anti concentration clause is being forced to be inserted in revised NAMA text by developed country members of WTO for ...
Assocham favours ‘Aviation Economic Regulator’
by Jenny HodgeThe Associated Chambers of Commerce and Industry of India (ASSOCHAM), the highest body of the Chambers of Commerce of India, has urged the Indian federal government to set up an ‘Aviation Economic Regulator’, to ensure space allocations within airport premises in a fair manner. The ASSOCHAM move came in the wake of a nearly 4900% increase in non-aeronautical service charges in civil aviation industry within the last 6 months. The ASSOCHAM ...
Friday, June 27, 2008
India’s annual inflation rate soared to 11.42 per cent for the week ending June 14, 2008. The latest inflation number, released Friday, was higher by 0.37 per cent over the figure recorded during the previous week. It may be recalled that inflation was 4.13 in the corresponding week a year ago. The inflation number was higher by 0.37 per cent over the figure recorded during the previous week. Inflation was 4.13 ...
Inflation rises to a high of 11.42%
by Jenny HodgeIndia’s annual inflation rate soared to 11.42 per cent for the week ending June 14, 2008. The latest inflation number, released Friday, was higher by 0.37 per cent over the figure recorded during the previous week. It may be recalled that inflation was 4.13 in the corresponding week a year ago. The inflation number was higher by 0.37 per cent over the figure recorded during the previous week. Inflation was 4.13 ...
India’s FDIs to fall short by US$ 7-8 billion
by Jenny HodgeA survey conducted by India’s apex business body, the Associated Chambers of Commerce and Industry of India (ASSOCHAM), reveals that the country’s ambitious target to receive US$ 35 billion of foreign direct investments (FDIs) in fiscal 2008-09 is likely to fall short by US$ 7 to 8 billion, due to global slowdown and continued volatility on its economic and political front. In a survey of Chief Executive Officers, in which 400 ...
43% Growth In Corporate & Income Tax Collections
by Jenny HodgeIndian federal government said that the collection from Corporate Income Tax and personal Income Tax as on 21st June, 2008 was Rs. 494.11 billion ($12.3 billion) exhibiting a growth rate of 43.45% over the previous year. The latest data released by the government shows that the collection from Corporate Income Tax stands at Rs 306.55 billion ($7.66 billion), at a growth rate of 39.81% over the previous year, while the ...
India’s finance ministry on REPO rate hike
by Jenny HodgeThe Indian finance ministry had indicated last week that the monetary authorities were expected to take action on the demand side to moderate inflation and quell inflationary expectations. India’s central bank, the Reserve Bank of India (RBI) has hiked the REPO rate by 50 basis points and the CRR by 50 basis points (in two stages). These steps are expected to have a salutary effect. These steps are necessary in the ...
Debt markets preferred channels for investors
by Jenny HodgeIndia’s apex business body, the Associated Chambers of Commerce and Industry of India (ASSOCHAM), says that due to volatility in equity market, investors now are more inclined to park their surpluses towards debt market and mutual funds, rather than adhering to equities. The ASSOCHAM President, Mr. Sajjan Jindal, is of the view that the latest trends show that investors, until about 3rd week of June 2008, in total invested about ...
India’s social sector spending low
by Jenny HodgeA recent study conducted by ASSOCHAM Eco Pulse (AEP) has revealed that while India with its unabated growth momentum stands out as a preferred investment destination, the country lags far behind its peers in social sector achievements. The study says that despite the sustained rise in budgets over the years, India’s public spending on health as a percent of GDP is second lowest among the BRIC countries and lowest in ...
India doubling investments into US
by Jenny HodgeMr. K V Kamath, President, Confederation of Indian Industry (CII) is leading a 9 member delegation as part of the CII CEOs Mission to the United States from 24-26 June 2008, with the aim of strengthening the bilateral ties, augmenting economic and commercial cooperation between the two nations to greater and newer heights and discussing innovative ways to collaborate on global economic challenges. The main thrust of the mission would be ...
India-Singapore IPR cooperation imminent
by Jenny HodgeIndian Commerce & Industry Minister, Mr. Kamal Nath, has said that a bilateral agreement on Intellectual Property Rights (IPR) cooperation between the Intellectual Property Offices of India and Singapore will be signed shortly. During his bilateral meeting with Mr. Lim Hng Kiang, Minister for Trade and Industry of Singapore, in New Delhi, Nath said that as regards ASEAN-India FTA, considerable progress was made during the last meeting in Bali. He ...
India’s fashion industry to reach $187.5 million
by Jenny HodgeThe Associated Chambers of Commerce and Industry (ASSOCHAM), the highest body of the Chambers of Commerce of India has estimated that the country’s fashion design industry is expected to touch Rs.7.50 billion ($187.5 million) by 2012, from the present estimated level of less than Rs. 2.90 billion ($72.5 million). The apex body also hopes that the sector will create additional employment opportunities for over 50,000 skilled professionals like fashion designer, ...
NCDC disburses $913 million to cooperative sector
by Jenny HodgeIndia’s National Cooperative Development Corporation has released an assistance of Rs. 36.52 billion ($913 million) to the cooperative sector during 2007-08. NCDC is expecting a pre-tax profit of Rs. 1.30 billion ($32.5 million) which is substantially higher than that in the previous fiscal. This was announced by Indian Agriculture, Consumer Affairs, Food & Public Distribution Minister, Mr. Sharad Pawar. While presiding over NCDC’s 66th General Council meeting, Pawar said that Indian ...
Thursday, June 26, 2008
Edible oils will be available at subsidised rates through ration shops in fifteen Indian states from the next month. The federal Indian government has introduced a scheme for distribution of 1 million tonnes of imported edible oils in 2008-09 at a subsidy of Rs. 15 ($0.37) per kg. through State Governments at the rate of 1 kg. per ration card per month. PSUs have already contracted import of 179,000 tonnes of ...
Edible oils to be distributed through ration shops
by Jenny HodgeEdible oils will be available at subsidised rates through ration shops in fifteen Indian states from the next month. The federal Indian government has introduced a scheme for distribution of 1 million tonnes of imported edible oils in 2008-09 at a subsidy of Rs. 15 ($0.37) per kg. through State Governments at the rate of 1 kg. per ration card per month. PSUs have already contracted import of 179,000 tonnes of ...
Indian private banks lead 2007 hiring spree
by TC MalhotraA recent ASSOCHAM Eco pulse (AEP) Study has revealed that Indian private sector banks are on a hiring spree with their average employee strength going up by as much as 40 per cent in the year 2007. This is contrary to the minimal growth of 2.75 per cent in staff posted by public sector banks. The ASSOCHAM Study on “Workforce Expansion in Banking Sector”, also revealed that in line with ...
Changes in air service agreement with Japan
by TC MalhotraCivil Aviation Delegations of India and Japan held a meeting in Tokyo on 17-18 June, 2008 to discuss matters relating to further development of aviation relations between the two countries. In a significant breakthrough, the Japanese Government have agreed to allot 20 additional slots w.e.f. March 2010 at the congested Narita international airport at Tokyo taking the total number of slots available for the Indian carriers to operate to Tokyo ...
Microcredit scheme for slum dwellers launched
by TC MalhotraIndian Finance Minister, Mr. P. Chidambaram, along with Delhi Chief Minister, Ms Sheila Dixit, has launched a Pilot Microcredit Scheme in New Delhi to provide loans at reasonable rates of interest to the slum dwellers of Delhi. The scheme enables slum dwellers to get loans for retail trade, auto rickshaws and other vehicles, home improvement, education and other purposes. The loan beneficiaries will also be able to secure life insurance ...