Thursday, June 26, 2008

Edible oils to be distributed through ration shops

by Jenny Hodge

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 [...]

Changes in air service agreement with Japan

by Jo Black

Civil 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 [...]

Microcredit scheme for slum dwellers launched

by Jo Black

Indian 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, [...]

NCR industrial units spend $350m on diesel

by Jo Black

The Associated Chambers of Commerce and Industry of India (ASSOCHAM), says that about Rs 14 billon ($350 million) per annum is spent on diesel for running generator sets by about 40,000 industrial units located in and around national capital region (NCR), to meet their production targets.
Rough estimates shows that some 350 million litre of [...]

Wednesday, June 25, 2008

India’s KPO’s biz to touch US$ 10 billion by 2012

by Jo Black

India’s highest body of the Chambers of Commerce, the Associated Chambers of Commerce and Industry of India (ASSOCHAM), has projected the Knowledge Process Outsourcing (KPO) industry’s size growing to US$ 10 billion mark by 2012, with a growth rate between 25-27%, provided a strong chain of qualified professionals is built, opening up the field for [...]

India’s engagement with ADB growing

by Jo Black

India has grown its engagement with Asian Development Bank (ADB) over the last few years, particularly in the last two years, as the country’s portfolio has grown substantially to include a loan amount of $7.3 billion.
Disbursement ratios have also improved exponentially to about 25% in the year 2007 and the country wide coverage [...]

India’s CII signs MoU with France’s GICAT

by Jo Black

Confederation of Indian Industry (CII), a non-government, not-for-profit, industry led and industry managed organisation, which plays a proactive role in India’s development process, has signed a Memorandum of Understanding (MoU) with the GICAT (Grupement des industries franchises de defense terrestre), French Defence Industry Association for Land Systems.
The MoU, which was signed on Wednesday (June [...]

Canada and India in 10 joint R&D initiatives

by Jo Black

Indian minister, Kapil Sibal and David Emerson, Minister of Foreign Affairs & International Trade and Minister for the Pacific Gateway has announced 10 joint research and development (R&D) initiatives involving Canadian and India companies and researchers valued at more than $17 million.
Eight of the initiatives are joint research projects while the other two initiatives [...]

Tuesday, June 24, 2008

India’s commodity market to grow 30% by 2010

by Jo Black

The Indian commodity market which expanded by 50 times in a span of 5 years from Rs.665.30 billion ($16.6 billion) in 2002 to Rs.33753.36 billion ($843.8 billion) in 2007, is now expected to grow at a steady speed of about 30% by 2010 and touch a volume of Rs.74156.13 billion ($1853.9 billion) since people’s participation [...]

India’s inflation rises to 8.75%

by Jo Black

India’s inflation touched 8.75 per cent for the week ending May 31, leading to fears that it is inching towards double digits for the first time in 13 years.
Inflation was measured at 5.09 per cent during the corresponding week last year.
Costlier food and vegetables mainly accounted for 0.51 per cent increase in inflation from [...]

CII delegation to visit Kazakhstan

by Jo Black

The Confederation of Indian Industry (CII), a non-government, not-for-profit, industry managed organization, which plays a proactive role in India’s development process, is sending a 15 member delegation to Astana – Kazakhstan.
This is the second CII Delegation to visit Kazakhstan.
The high level delegation headed by Mr. Syamal Gupta, member CII National Council and Chairman TATA [...]

India and Syria reach tax agreement

by Jo Black

The Indian federal government has approved the agreement signed between India and the Syrian Arab Republic for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion in relation to taxes on income.
The Double Taxation Avoidance agreement will stimulate the flow of investment, technology and services from India to Syria and vice versa. [...]

RBI hikes repo rate by 25 bps to 8%

by Jo Black

India’s central bank, the Reserve Bank of India (RBI) on 11 June raised the repo rate by 25 basis points to 8 per cent from the existing 7.75 per cent, but kept the reverse repo rate unchanged at 6%. The bank rate too remains steady at 6%.
This is the first increase in the repo rate [...]

Monday, June 23, 2008

Indian government looks into fiscal health of oil companies

by Jo Black

Indian federal government has constituted a high powered committee to examine the financial position of oil companies.
The committee have three members which includes, Mr. B.K. Chaturvedi, Member, Planning Commission, Dr. Saumitra Chaudhuri, Member, EAC, and Dr. Arvind Virmani, Chief Economic Advisor
The committee has been formed to examine the impact of the increase in oil [...]

India and South Africa to enhance bilateral trade

by Jo Black

Despite the substantial increase in bilateral trade, India and South Africa believe the current volumes are much below the potential.
During an interactive session organized by the Confederation of Indian Industry (CII), in New Delhi, both sides agreed to cooperate each other.
While India has sought African cooperation to increase agriculture production and tap alternative [...]

Indian Railway registers 19.85% earnings growth

by Jo Black

Indian Railways has registered an increase of 19.85 per cent on originating basis earning during 1st April - 31st May 2008.
It earned Rs. 133.372 billion ($3.33 billion) during the period as compared to Rs. 111.2595 billion ($2.78 billion) during the same period last year.
The total goods earnings, registered an increase of 23.54 per [...]

Adverse political implications of petro price hike unlikely

by Jo Black

Unlike in the past, over 90% of CEOs interviewed by the apex industry body- the ASSOCHAM - on the hike in petrol and diesel prices offered virtually no resistance, but the common man on street feels ignorant about exorbitant crude oil prices in international market and is of the view that increase in LPG cylinder [...]

Friday, June 20, 2008

Orissa state to attract huge investment

by Jo Black

India Inc. lined up investment plans of almost Rs. 920.35 billion ($23 billion) in Orissa during Jan-Mar 2008, with Rs. 450 billion ($11.25 billion) flowing to steel sector alone, state the readings of ASSOCHAM Investment Meter (AIM).
According to the AIM study on “Statewise Investments”, Orissa topped the chart claiming almost 30 per cent of [...]

Railways to absorb impact of diesel price hike

by Jo Black

Indian Minister of Railways, Mr. Lalu Prasad has categorically stated said that in the wake of the recent diesel price hike, the Indian Railways will not pass the Railways’ additional financial burden on to its users – both Railway passengers and freight customers.
Lalu Prasad pointed out that Indian Railways consume 2.27 billion litres diesel [...]

Petrol prices hike a sensible decision

by Jo Black

The President of ASSOCHAM, Mr. Sajjan Jindal has welcomed the decision of the government to raise the prices of petrol and diesel by Rs.5 ($0.12) and Rs.3 ($0.07) a litre respectively, appealing to all stakeholders including political parties not to take undue advantage of the price rise.
The Chamber also welcomed the price rise in [...]

« Previous Page — Next Page »