Wednesday, June 18, 2008

Petrol, diesel and LPG prices increased

by Jo Black

The Public Sector Oil Marketing Companies (IOCL, BPCL and HPCL) have been moderating the impact of high international oil prices, which have touched record highs.
The Indian Basket of Crude oil is $ 123/bbl, having recently touched its highest level at $ 129 per barrel.
At the current international price levels, the under-recoveries of Oil [...]

CII roundtable on oil price

by Jo Black

The cost of price adjustment has to be borne by all stakeholders including consumers, Oil Companies and the Government, was the consensus among the panel of experts at a Roundtable on Oil Price: Implications for India organized by CII.
Dr Jahangir Aziz, Principal Economic Advisor, Ministry of Finance while addressing the Roundtable said that a [...]

Indian PM speaks on petroleum products prices

by Jo Black

The Indian Prime Minister, Dr. Manmohan Singh called for a consensus approach within the coalition partners of the UPA government for increase of prices of kerosene, LPG, diesel and petrol.
Inaugurating the 87th Annual General Meeting of ASSOCHAM, Dr. Singh said that the subsidy bill cannot be allowed to rise any further and there is not [...]

Clarification on Regulation of FIIs and PNs

by Jo Black

The attention of the Indian federal government has been drawn to a news item appearing in a section of press on the allegations made by Ms. Jayalalithaa, General Secretary, AIADMK regarding FII regime, movement of stock market indices, Participatory Notes etc.
The allegations made by Ms. Jayalalithaa, General Secretary of the AIADMK, are totally baseless [...]

Double taxation avoidance agreement with Luxembourg

by Jo Black

Indian federal government has signed a Double Taxation Avoidance Agreement (DTAA) with the Government of the Grand Duchy of Luxembourg for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on Income and on capital.
This Agreement shall enter into force on a date to be notified in [...]

Consumer awareness drive on safe computing

by Jo Black

Confederation of Indian industry (CII) J&K State Council in conjunction with department of Information Technology and Computer Emergency Response Team India (CERT-In) recently organized a Seminar on Internet and Safe Computing in Delhi Public school DPS, Srinagar.
This session was the first of the week long Information Technology (IT) Consumer Awareness Drive launched by CII [...]

Tuesday, June 17, 2008

Ban on ECBs to be lifted shortly

by Jo Black

The Indian government will shortly lift the ban on External Commercial Borrowings (ECBs) that was imposed in August 2007 as the Finance Ministry and the Reserve Bank of India (RBI) are in consultation process for the job, according to the Finance Minister, Mr. P. Chidambaram.
Delivering his Keynote Address at an ASSOCHAM organized Interactive Session, the [...]

Revised GDP growth for 2007-08 at 9%

by Jo Black

The revised GDP growth for 2007-08 released by CSO at 9% is in line with CII expectations.
CII had projected a GDP growth of 9.2% for 2007-08, said the Confederation of Indian Industry (CII).
The moderation in the growth has been mainly due to tight monetary policy resulting in interest rate hardening.
The impact has [...]

Monday, June 16, 2008

Enterprise product support organizations offer careers

by Jo Black

Across the marketplace, companies are seeking new ways to increase customer value and strengthen customer relationships.
This need creates an unprecedented opportunity for product support organizations in India to extend beyond their traditional reactive function, and become proactive leaders in optimum value creation for customers.
To unify efforts around skill building, talent identification and other [...]

Statement on rules of the Doha Round

by Jo Black

Mr. Kamal Nath, Indian Minister of Commerce and Industry, while commenting on the Working Document of the Chairman of the Negotiating Group on Rules of the Doha Round released on 28 May in Geneva, stated that despite the near unanimity of the entire WTO membership to have a revised text on Rules before moving into [...]

India’s ECB policy modified

by Jo Black

The External Commercial Borrowing (ECB) policy is regularly reviewed by the Indian federal government in consultation with Reserve Bank of India (RBI) to keep it in tune with the evolving macroeconomic situation, changing market conditions, sectoral requirements, the external sector and lessons of experience.
Consequent upon such a review, it has been decided to modify [...]

Cooperation & collaboration needed for raising skills

by Jo Black

Globalisation is not only industrial growth, but also an improvement in quality and enhanced competitiveness, said Bill Rammell, Minister for State, Life long Learning Further and Higher education at the CII - UKIERI seminar on “Addressing the Skills Imperative through the UK-India partnership” at the British Council, New Delhi.
He said that key principles for [...]

Friday, June 13, 2008

The 2nd Global Innovation Summit, 2008

by Jo Black

The 2nd Global Innovation Summit, 2008 was inaugurated by Dr. Ashwani Kumar, Minister of State (Industry), Government of India and Mr. Mauri Pekerannin, Minister of Economic Affairs, Finland in Oulu, Finland on May 27, 2008.
Confederation of Indian Industry and Finpro also signed a Memorandum of Understanding to cooperate and collaborate in the area of innovation [...]

India’s IT investments in China poised to rise

by Jo Black

The rising Indian IT investments in China are poised to increase substantially in the coming decade and thereafter, as Asia continues to be the dominant force in the world economy and China deepens its engagement with the world economy, Dr. Victor Fung, Vice Chairman, International Chamber of Commerce (ICC) said.
Addressing a ICC India-FICCI meeting on [...]

Indo-Poland joint Commission on Economic Cooperation

by Jo Black

Mr. Ajay Shankar, Secretary, Department of Industrial Policy and Promotion, co-chaired the first session of the Indo-Polish Commission on Economic Cooperation in New Delhi along with Mr. Adam Szenjfeld, Secretary of State, Ministry of Economy, Republic of Poland.
Speaking on the occasion, Ajay Shankar informed the Polish side about the positive investment climate in India [...]

Outlook for GDP growth at 8% plus

by Jo Black

Business confidence for April - September 2008-09 moderated on concerns of global economic uncertainties, high interest rates and availability and the cost of labour, said CII’s 69th Business Outlook Survey.
The CII survey however pointed out that outlook for GDP growth is expected at 8% plus and investments are expected to be on track.
CII’s [...]

Medical tourism forex earnings to grow $2bn

by Jo Black

The easy access to Visa facilities often permitted by India to overseas patients, coupled with the best emerging medical infrastructure facilities in its large and tertiary towns, means the prospects of India Medical Tourism becoming a lead foreign exchange earners will grow to an extent of Rs. 80 billion ($2 billion) by 2012.
The above [...]

Leaders for Indian manufacturing heading to Japan

by Jo Black

The 1st batch of the Visionary Leaders for Manufacturing (VLFM) Programme being implemented in India by Confederation of Indian Industry (CII) will arrive in Japan on May 25, 2008 for the final leg of this unique learning programme.
The programme, being implemented with the tremendous support of Japan International Cooperation Agency (JICA) has 46 participants [...]

India to import larger quantities of edible oil

by Jo Black

While the government is weighing all the pros and cons of FDIs liberal entry into Indian retailing and its possible implications on domestic retailing, it will import larger quantities of edible oils in the current oil year to keep in check their price rise, says the Secretary, Indian Ministry of Consumer Affairs, Mr. Y S [...]

Quicker textile reforms could create 65 million jobs

by Jo Black

India’s textile industry, which currently is braving various odds, could achieve US$ 55 billion of investments, create job opportunities for 65.4 million workers and its CAGR could go up at 22% by 2010 provided reforms are initiated into it at quicker speed, according to findings of The Associated Chambers of Commerce and Industry of [...]

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