Monday, April 21, 2008

Prices Rise In Energy & Auto

by Elisha Sanders

According to economic figures released by the price supervision centre - a subsidiary of the National Development and Reform Commission - the price of vehicles manufactured in China has risen by 0.15% since March.
The figures released by the price supervision centre are based on sales from 36 of China’s largest to medium sized cities and [...]

New age of innovation focuses on individual consumer experience

by Jo Black

A lively discussion on a new approach to value creation based on individual consumer experience fulfilled fom resources from multiple vendors provided the backdrop to the global launch of Prof. C.K. Prahalad’s new book, ‘The New Age of Innovation’, co-authored with Prof. M.S. Krishnan, took place in New Delhi on 17 April 2008.
The [...]

Assocham advocates forward looking monetary policy

by Jo Black

In view of global turbulence and shaking of investor’s confidence in the Indian market, the ASSOCHAM has advocated for a forward looking monetary policy that can absorb and withstand implications of global slowdown.
In a note submitted to the RBI Governor, the Chamber President, Mr. Venugopal N. Dhoot has proposed that the RBI should increase [...]

India’s insurance sector poised for 200% growth by 2010

by Jo Black

Indian insurance sector is likely to register unprecedented growth of 200% and attain a size of Rs. 2000 billion ($51.2 billion) by 2009-10, in which a private sector insurance business will achieve a growth rate of 140% as a result of aggressive marketing technique being adopted by them against 35-40% growth rate of state owned [...]

Friday, April 18, 2008

Customs Administrations Conference concludes

by Jo Black

The 12th World Customs Organization’s (WCO) Regional Heads of Customs Administrations Conference concluded in New Delhi. India had hosted the biennial Conference as the Regional Vice Chair of the WCO. I81 delegates from 22 Member countries of the WCO Asia Pacific Region, 10 delegates from various international and regional organizations attended the Conference. India is [...]

CBEC instructions for timely payment of refund claims to exporters

by Jo Black

Indian federal government has already notified refund of service tax paid on sixteen taxable services, whether or not input services, use of which could be attributable to export goods, based on verifiable methods.
Central Board of Excise and Customs (CBEC) has issued instructions vide F.No.341/15/2007-TRU dated 17th April, 2008 to all field formations of CBEC to [...]

Industry representatives welcome hike in subsidy for SSP Fertiliser

by Jo Black

The delegation of the producers of Single Super Phosphate (SSP) met the Indian Minister for Chemicals and Fertilisers and Steel Mr. Ram Vilas Paswan in New Delhi and expressed gratitude for his efforts to revive the SSP industry.
The Department of Fertilisers had recently proposed and obtained the approval of the Cabinet Committee on Economic [...]

Thursday, April 17, 2008

Ban on steel exports may serious repercussions

by Jo Black

A blanket ban on export of steel items will have serious repercussions as the industry will not only lose international market and dent country’s credibility, but will attract huge litigations in courts overseas.
The ban, according to The Associated Chambers of Commerce and Industry of India (ASSOCHAM), Indian exporters on one hand would have [...]

Tax issues not a deal-breaker for NELP VII

by Jo Black

The Ministry of Petroleum & Natural Gas is hopeful of resolving issues relating to taxation of petroleum products with the Finance Ministry in a manner that would not affect the investor sentiment for the bidding process of NELP VII, Mr. Murli Deora, Indian Minister of Petroleum and Natural Gas, said.
Speaking to media persons after inaugurating [...]

New regulatory structure for medical devices sector on the anvil

by Jo Black

The Indian federal government is in the process of creating a new and better regulatory structure for the medical devices industry as part of its effort towards achieving quality healthcare for all, Debasis Panda, Joint Secretary, Ministry of Health and Family Welfare, said addressing the Medical Technology Conference on the theme of ‘Interactive partnership - [...]

Wednesday, April 16, 2008

India-Egypt agrees to exchange industrial knowhow

by Jo Black

India and Egypt has agreed to explore possibilities of exchanging industrial know-how and formation of joint venture in the following industrial sector: textiles, iron & steel, cement, building materials, automotive and its components, chemicals, petrochemicals & fertilisers, drugs & vaccines, communication & IT, new & renewable energy and organic fuel for industrial use, infrastructure, housing [...]

Domestic carriers pay 8 times costlier for ATF

by Jo Black

Domestic aircraft operators pay over 8 times higher taxes on Aviation Turbine Fuel (ATF) as these are charged with various tax levies, totaling 66% against 8% on international airlines that fill - in ATF in India and thus erode their annual profitability by 11% to 16%, according to The Associated Chambers of Commerce and Industry [...]

GDP growth to moderate at 7.9% for fiscal 09

by Jo Black

The Indian growth story is set to moderate with inflation and high interest rates impacting major industrial sectors and dampening consumer demand, according to 82 per cent of the CEOs surveyed by ASSOCHAM, who have stated the GDP growth figure may remain close to 7.9 per cent for the fiscal 2008-09.
The growth rate recorded [...]

Tuesday, April 15, 2008

India’s foreign trade policy is growth oriented

by Jo Black

The Annual Supplement 2008-09 to the Foreign Trade Policy (2004-09) released by Mr Kamal Nath, Indian Minister for Commerce and Industry has fulfilled Indian industry expectations, according to a CEO Opinion Poll conducted by the Confederation of Indian industry (CII).
More than 73% of the respondents voted overwhelmingly to record a satisfactory, vision-led policy with [...]

Price difference over 60% in five years

by Jo Black

Though the difference between Minimum Support Price (MSP) and Wholesale Price (WSP) for essential commodities such as Moong, Urad, Gram, Arhar on an average was around 33% between December 2003 to January 2008, it has gone up beyond 60% in wholesale prices and retail prices in the same period, which shows that farmers and consumers [...]

Monday, April 14, 2008

India targets 5% world trade share by 2020

by Jo Black

“Focus product to a Focus Market” , should be the orientation of India’s trade policy, said Mr Kamal Nath, Indian Minister for Commerce and Industry. Indian exporters should look for new markets, markets hitherto unexplored like the countries of East Europe and the CIS countries.
He was speaking in the session- Interactive Session on Foreign [...]

Higher Inflation disrupt supply chain demand

by Jo Black

Reacting on latest wholesale inflation rate of 7.41%, the ASSOCHAM President, Mr. Venugopal N. Dhoot predicted that the way prices of essential commodities including food grains are shooting up, the inflation was expected to touch an alarming figure.
The ASSOCHAM Chief said that its true that government in the recent past took several steps for [...]

International commitments on cement exports to stay

by Jo Black

The Export of Cement constitute only 3% of the total Indian Production and 90% of the export are from the companies located around the Gujarat coastal area. Most of these companies are very small and are mostly exporting to South Africa and Srilanka.
They are only competitive for exports, as is obvious from their location [...]

Friday, April 11, 2008

Enterprise cooperation between the SMEs in India & UK

by Jo Black

According to Mr Dinesh Rai, Secretary, Ministry of MSME, the Rs 150 billion ($3.9 billion) fund, announced by the Indian Finance Minister, in the Union Budget for skill development, has opened a plethora of opportunities, for SMEs. This, he mentioned can provide for training & developing of manpower for the tourism & hospitality industry (from [...]

India’s port capacities to be 1500 Mt by 2011-12

by Jo Black

Indian federal government has decided to hike cargo handling capacities of major and non-major ports to 1500 million tones by 2011-12 with public-private investment of Rs.1000 billion ($26.3 billion).
Disclosing this at ASSOCHAM-EXIM organized International Conference `CONQUEST 2008’, Secretary Indian Ministry of Shipping, Mr. A.P.V.N. Sarma also unveiled that capacities of major ports would be [...]

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