Tuesday, July 22, 2008

Assocham favours funds for infrastructure financing

by Ed Roberts

Seeing the size of proposed huge amount, the Associated Chambers of Commerce and Industry of India has suggested to creat a fund for infrastructure financing through which states and central departments can access projects financing,
It is estimatd that infrastructure financing would need in the tune of US$ 90 billion by 2010-11 and Assocham feels this [...]

Friday, July 18, 2008

India provides subsidy on edible oil

by Jenny Hodge

The Indian federal government has taken certain measures to help the poorer sections of the society.
It has provided relief by making available edible oil with a subsidy of Rs. 15 ($0.37) per Kg. through the state governments.
This was stated by Indian Minister for Agriculture, Consumer Affairs, Food and Public Distribution, Mr. Sharad Pawar.
While [...]

India & Ecuador seek cooperation on mining

by Ed Roberts

India and Ecuador have decided to explore the possibility of cooperation in the mining sector between the two countries.
A decision in this regard was taken during a meeting of the Vice Minister of Foreign Affairs of Ecuador Mr. H. E. Jose Valencia and Indian junior minister for Mines, Mr. B. K. Handique, in New [...]

Govt steps showing results to control inflation

by Jo Black

Indian Finance Minister, Mr. P Chidambaram, on Thursday said the rate of price rise has stabilised on a week-on-week basis, with prices of many essential items either declining or remaining static.
The inflation which stands at 11.9% rose only by 0.02% the week-ended July 5.
“The rate of inflation for the week ending July 5, 2008 [...]

Thursday, July 17, 2008

Minister seeks steel industry support on inflation

by Jo Black

Indian Steel, Chemicals and Fertilisers Minister, Mr. Ram Vilas Paswan has urged the steel industry to support the government in managing the inflationary trend in the country.
During a seminar, the minister promised to make a fine balance between the consumer’s interest and the interest of the industry.
Delivering the inaugural address at the “India [...]

Awards for excellence in agricultural research

by Ed Roberts

The Indian Minister for Agriculture, Consumer Affairs, Food and Public Distribution, Mr. Sharad Pawar, distributed 111 awards under 12 different categories for excellence in agricultural research, at the ICAR Award ceremony, 2008, in New Delhi.
The list of awardees comprised four institutions, 103 scientists, 3 farmers and one journalist.
Out of 103 scientists, there were [...]

India is becoming a hub for clinical trials

by Jenny Hodge

The Associated Chambers of Commerce and Industry of India (ASSOCHAM), predicts that India is becoming a hub for clinical trials, and currently captures 15% market share of total global clinical trials.
According to Assocham estimates, the size of clinical trials in India is expected to grow to an extent of US$ 546 million by 2010 from [...]

Wednesday, July 16, 2008

India and Bhutan explore bilateral trade

by Jenny Hodge

Indian Commerce & Industry Minister, Mr. Kamal Nath says that India is the largest trading partner of Bhutan.
Nath expressed these views during a meeting with Mr. Lynbo Khandu Wangchuk, Economic Affairs Minister of Bhutan, in New Delhi.
During the meeting, both the leaders observed that there is huge potential for increasing the bilateral trade between [...]

India & Australia in oil and gas agreement

by Ed Roberts

India’s Directorate General of Hydrocarbons (DGH) and Western Australia’s Department of Industry & Resources (DOIR) have signed a memorandum of understanding (MoU) to enhance cooperation and understanding on oil- and gas-related issues.
The MoU was signed by Mr. Stedman Illias, Deputy DG, DOIR and Mr. V.K. Sibal, DG, DGH, a technical arm of the Indian [...]

Tuesday, July 15, 2008

Australia is India’s 10th largest trading partner

by Jo Black

Mr. Kamal Nath, Indian Minister of Commerce & Industry says that Australia is the 10th largest merchandise trading partner of India and the 9th largest merchandise import market.
During a bilateral meeting with the Deputy Premier of Western Australia, Mr. Eric Ripper, Nath said that bilateral trade between the two countries in 11 months of [...]

Monday, July 14, 2008

India to attract clean technology innovation

by Jenny Hodge

Mr. John McCarthy, the Australian High Commissioner to India, hopes that Australia and India are on the verge of a great economic partnership
McCarthy, who was speaking at the 2nd India Cleantech Forum, in New Delhi, said that the success of the partnership depends on how we promote growth today to tackle the central issues of [...]

Andhra Pradesh tobacco farmers get high returns

by Ed Roberts

Tobacco farmers in the south Indian state of Andhra Pradesh, have made Rs 5.8492 billion ($ 146.2 million) more than what they did in last year’s auctions.
The farmers produced 165 Million Kgs of flue-cured Virginia (FCV) tobacco, compared to last year volume of 172 Million Kgs, earning an all-time high income of Rs 14.01 [...]

Inflation rises to 11.89 per cent

by Jo Black

India’s Inflation soared to 11.89 per cent for the week ended June 28, mainly due to higher prices of essential food items and some manufactured products such as cement and edible oils.
The Indian finance ministry said in a statement that the rate of inflation in the week ending June 28, 2008 stood at 11.89 per [...]

Thursday, July 10, 2008

Inflation may reach 14.5% in December

by Jenny Hodge

A survey conducted by ASSOCHAM Eco Pulse (AEP) reveals that fuel prices may be hiked further in October 2008, causing inflation to peak in December 2008 to reach 14-14.5 per cent.
The AEP Report on ‘Inflation and Interest Rates’, says that coupling with low-base effect, inflation as measured by the WPI Index would peak at [...]

Freight Up 9% On Indian Railways

by Ed Roberts

Indian Railways, one of the largest and busiest rail networks in the world, registered an increase of 9.42 per cent in freight traffic, to carry 202.99 million tonnes of revenue earning freight traffic during April-June 2008, against the freight traffic of 185.51 million tonnes actually carried during the corresponding period last year.
The Railways showed an [...]

Wednesday, July 9, 2008

ASSOCHAM calls for 20% hike in drug price

by Jenny Hodge

The Associated Chambers of Commerce and Industry of India (ASSOCHAM), the apex business body, has written a letter to the Prime Minister, urging him to allow domestic pharma companies to hike the prices of non-scheduled drugs by 20% each year, in view of their rising input costs.
Assocham fears that pharma companies might send their [...]

Statement on WTO Doha Round negotiations

by Ed Roberts

Mr. Kamal Nath, Indian Commerce and Industry minister, met with the European Union (EU) Trade Commissioner, Mr. Peter Mandelson, in London on Tuesday to discuss various matters including the successful conclusion of the WTO Doha Round.
After their meeting, the two leaders issued a joint statement regarding the Doha Round of negotiations.
The statement says: [...]

Tuesday, July 8, 2008

India’s EIC gets ISO-9001:2000 status

by Jenny Hodge

India’s Export Inspection Council (EIC), which provides services to the Indian exporting community, under the Ministry of Commerce & Industry, has been granted the status of an ISO-9001:2000 organization by M/s. DNV, Netherlands.
To automate all its activities in the organization, EIC has been implementing an Integrated Computerization Project (ICP).
The commerce and industry [...]

Monday, July 7, 2008

High food prices have increased inflation

by Jenny Hodge

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) says that costlier prices of edible oil, food products, fruit and vegetables and iron and steel fuelled inflation to 11.63% and if their supplies are not maintained, inflation will exceed even 12%.
ASSOCHAM President, Mr. Sajjan Jindal, fears that rising crude oil and food prices [...]

India welcomes Kuwait’s investments

by Ed Roberts

Indian commerce and industry minister, Mr. Kamal Nath has welcomed investments from Kuwait in sectoral developments in the infrastructure, power and petroleum & petrochemicals sectors in India.
The Indian minister paid thanks to Mr. Mustafa Jassim Al-Shamali, Kuwait’s finance minister, for his country’s support, during a meeting in New Delhi.
He also stated that India seeks [...]

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