Wednesday, July 16, 2008

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 [...]

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: [...]

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 [...]

Insurance companies can earn from rural folks

by Jo Black

The Associated Chambers of Commerce and Industry of India (ASSOCHAM), the country’s highest body of the chambers of commerce, reveals that rural areas of the country have a lot of potential for the insurance sector.
In a paper on `Rural India and Its New Investors’, the Assocham has said that Indian insurance companies can add about [...]

Wednesday, July 2, 2008

Infrastructure sector hit by attrition

by Jo Black

A 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 [...]

Monday, June 30, 2008

ASSOCHAM opposes anti concentration clause

by Jo Black

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 [...]

Assocham favours ‘Aviation Economic Regulator’

by Jenny Hodge

The 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% [...]

Friday, June 27, 2008

Inflation rises to a high of 11.42%

by Jenny Hodge

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 [...]

India’s FDIs to fall short by US$ 7-8 billion

by Jenny Hodge

A 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 [...]

43% Growth In Corporate & Income Tax Collections

by Jenny Hodge

Indian 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 [...]

India’s finance ministry on REPO rate hike

by Jenny Hodge

The 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). [...]

India-Singapore IPR cooperation imminent

by Jenny Hodge

Indian 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 [...]

NCDC disburses $913 million to cooperative sector

by Jenny Hodge

India’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 [...]

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