Tuesday, June 24, 2008

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. [...]

Monday, June 23, 2008

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 [...]

Wednesday, June 18, 2008

Futures currency trading in the offing

by Jo Black

The Chairman, Securities and Exchange Board of India (SEBI) has disclosed that the regulator would shortly evolve a new mechanism to introduce futures currency trading as well enable the small scale industries to access capital for their upgradation and modernization drive.
Speaking on the 2nd day ASSOCHAM 87th Annual General Meeting, SEBI Chairman said that [...]

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 [...]

India’s exports up 31.5% in April

by Jo Black

India’s exports during April, 2008 were valued at US $ 14400 million (Rs.576.33 billion) which was 31.5 per cent higher in dollar terms (24.8 per cent in Rupee terms) than the level of US $ 10953 million (Rs.461.64 billion) during April, 2007.
India’s imports during April, 2008 were valued at US $ 24274 million (Rs.971.51 [...]

Monday, June 16, 2008

India’s spice exports $10 billion by 2017?

by Jo Black

Spice exports which have touched the one billion US$ mark in 2007-08 should reach 10 billion by 2017 said Mr. Jairam Ramesh, Indian junior minister for Commerce & Power.
He was delivering the presidential address during the function of the Spices Board’s Awards for Excellence in Production & Export of Spices.
He said during the [...]

Friday, June 13, 2008

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 [...]

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 [...]

Treaty deepens India - US strategic partnership

by Jo Black

A successful conclusion of the Bilateral Investment Treaty (BIT) between India and the US will deepen the strategic partnership and would further enhance B2B (Business To Business) and G2G (Government to Government) contact between the two sides according to Mr. Daniel Sullivan, Assistant Secretary of State, Department’s Bureau of Economic, Energy, and Business Affairs (United [...]

Thursday, June 12, 2008

Indo-German consultation on development cooperation

by Jo Black

The two day meeting of the Indo-German Annual Consultation on Development cooperation reviewed the ongoing programmes and discussed new projects for funding under the Indo-German Development Cooperation Programme.
The umbrella agreements for financial cooperation and technical cooperation for projects committed in 2007 were signed by Mr. Kumar Sanjay Krishna, Joint Secretary, Ministry of Finance from Indian [...]

Calls for financial cooperation between India and china

by Jo Black

The Indian junior minister for finance, Mr. Pawan Kumar Bansal has called for greater cooperation between India and China in the financial sector, both through Governmental agencies and private institutions and banks.
Mr. Bansal was the key note speaker at the second India-China High-Level Financial Development Forum held recently in Beijing.
The Forum was supported [...]

Wednesday, June 11, 2008

CAAS inks agreement with AAI

by Jo Black

The Civil Aviation Authority of Singapore (CAAS) has inked an agreement with the Airports Authority of India (AAI) to promote mutual cooperation in civil aviation between the two organisations.
The Memorandum of Cooperation (MoC) was signed by Mr Lim Kim Choon, Director-General and Chief Executive Officer, CAAS, and Dr K. Ramalingam, Chairman, AAI.
Under this collaborative [...]

Bilateral trade increased 4 times

by Jo Black

The India-Sri Lanka FTA, which was completely implemented by March 2008, has increased the bilateral trade by 4 times since 2000, according to a FICCI study.
The FICCI study pointed out that the total bilateral trade increased by 4 times in the post-FTA period to reach $2.7 billion in 2006-07 from a mere $685 million [...]

Tuesday, June 10, 2008

Indo-Japan economic relations on rise

by Jo Black

India-Japan economic relationship received a big momentum in the year 2007-08.
The Government of Japan committed to provide 225 billion Japanese Yen (Rs. 85.82 billion) to India for undertaking nine new infrastructure projects in various parts of the country.
New projects approved with Japanese assistance and signed recently include Kolkata etro Project, Hyderbad Outer Ring [...]

Friday, June 6, 2008

Proposal for diverting excess forex reserve

by Jo Black

The foreign exchange reserves of India (including Gold, Special Drawing Rights and Reserve Tranche Position in the IMF) stood at US $ 309.16 billion as at March 28, 2008.
Pursuant to the announcement made in the Budget for 2007-08, to use a part of the foreign exchange reserves for infrastructure financing without the risk of [...]

March exports up by 26.59%

by Jo Black

India’s exports during March 2008 were valued at US$16282.79 million which was 26.59 per cent higher than the level of US$12862.40 million during March 2007.
In rupee terms, exports touched Rs.657.1071 billion, which was 16.04 per cent higher than the value of exports during March 2007.
Cumulative value of exports for the period April-March, 2008 [...]

Thursday, June 5, 2008

India Inc.’s capex plans soar to $174bn

by Jo Black

Brushing aside the concerns of slowdown in the industrial growth, capital expenditure announcements by India Inc. soared by 66 per cent during Jan-Mar 2008 to a whopping USD 174 billion as compared to USD 105 billion lined up in Oct-Dec 2007, revealed the findings of ASSOCHAM Investment Meter (AIM).
In a AIM Study on “Investment [...]

India and Colombia discuss investment and tax treaty

by Jo Black

Speaking at an interaction on India-Colombia: Opportunities for Trade and Investment, organized by the Confederation of Indian Industry in New Delhi, H E Luis Guillermo Plata, Minister of Trade, Industry & Tourism, Colombia, said the economic relations between India and Colombia have a great potential.
He said the two countries are discussing bilateral investment and [...]

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