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ARTICLES ARCHIVE

 

 Pepsi to reinvest in soft drink business - 13th October 2008

PepsiCo Inc said on Friday it is making a major multi-year investment in its soft drink business to restore growth in a business that has declined as U.S. consumers seek drinks they view as healthier.

Source - Flex News

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Indian Sugar Offtake Seen Rising in 2009/10 - 3rd October 2008

London, October 02, 2008 - Sugar offtake in India, the world's largest consumer of the sweetener, is projected to rise to 22.5-23 million tonnes, including drawdown of stocks, in 2009/10 from 22 million in 2008/09, a senior miller said.

Source: Reuters

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Flavouring Evaluations - 11th August 2008

Following a request from the European Commission, EFSA has been working since 2007 on a comprehensive evaluation of flavouring substances currently in use in the European Union.

Source - Flex News

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Prices of 40% of Food Items Decline in Last Two Months 11th July 2008

Even as the inflation at more than 11.5 per cent has touched thirteen year high, eight commodities accounting for 40 per cent of the food basket in wholesale price index have recorded average decline of 1.2 per cent in their prices over the last two months, an ASSOCHAM Eco Pulse (AEP) Study has revealed.

Source - ASSOCHAM

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 India 2008/09 Coffee Output Seen up 12 pct – Official - 2nd July 2008

India's coffee production is likely to rise 12 percent in 2008/09 due to conducive weather and better price realisation, a senior Coffee Board official said on Friday.

Source: Flex News

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India's June manufacturing PMI at 4-month high - 2nd July 2008

According to a joint survey compiled by UK-based Markit Group Ltd and the ABN AMRO Bank (Indian unit) released on July 1, 2008, the manufacturing sector performance rose to a four-month high in June, supported by strong demands, despite a rising cost index.

Source: India Brand Equity Foundation (IBEF)

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Tata announces £700m investment plan for Jaguar - 20th June 2008

Tata has said it will invest 700 million pounds in Jaguar Land Rover, creating 600 jobs.

Source: Hindustan Times

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Government plans to establish tourism clusters around cities - 13th June 2008

The fun-filled spree at theme park, the rejuvenating experience at wellness centre and the lavish food treats - all under one roof will soon be the reality for metros and major cities. To promote tourism, the government is considering a proposal to set tourism clusters around cities, setting up of casinos and allowing construction of hotels in beach areas by relaxation of coastal regulations zone requirements (CRZ).

Source: The Economic Times

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Rising crude oil prices force Indian government to resort to steep hike in retail fuel prices and cut duties … 13th June 2008

This leads to a spiralling inflation, which as on 13 June was at a 13 year high of 11.42 percent

Runaway inflation forces the Reserve Bank of India to further tighten the monetary policy. Cash Reserve Ratio (CRR) and Repo Rate hiked. This would make borrowing costlier and put to hold investment decisions of many companies.

Source: Economic Section

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Mobile-banking gets RBI okay - 13th June 2008

Mobile phone owners in the future will be allowed to transfer funds from their accounts to other mobile phone owners across networks and service providers. This is what the Reserve Bank of India’s (RBI) draft operating guidelines for mobile payments aim to achieve.

Source: The Economic Times

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Competition panel eases M&A norms - 10th June 2008

India’s competition commission is amending rules it had earlier proposed and will now have to approve only significant mergers and acquisitions, or M&As, in a move that will bring cheer to industry bodies that had been lobbying for this.

Source: Livemint.com

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2020 period to be best years for Indian capital mkts - 8th June 2008

As a consequence of better youth 'employability' and increased earnings (and keeping aside external factors that affect equities market), years in and around 2020 could be some of the best years for the Indian capital market.

Source: The Economic Times

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India rated as fourth safest business haven - 6th June 2008

India has been ranked as the fourth most attractive business location for European business houses, by the fifth annual European attractiveness survey by global consultancy company Ernst & Young. 30 per cent decision-makers among the 834 who responded to the survey, found India attaining more investor confidence and developing as a more preferred business destination compared to the US and Russia.

Source: IBEF

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Cement sales increase by 7.9 per cent in May - 4th June 2008

Cement sales have grown 7.9% as an increased focus on infrastructure projects has pushed up demand for the building material in the world’s second-largest cement market after China.

Source:: The Economic Times

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8 million phone subscribers added in April- 2nd June 2008

Total subscriptions up to 308 million, but fixed line connections see drop; India surpasses US to have world's second largest wireless network.

Source: livemint.com

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Oil sector offers investment opportunities - 2nd June 2008

Oil is all over the place. All talk everywhere trickles down to nothing else, but crude. Even as the man on the street frets over the snowball effect of rising prices, number-crunchers work at a hypnotic pace to figure out its next milestone. And governments across the world, especially those in the developing world, shudder over the fast-narrowing options at their disposal to deal with a catch-22 situation.

Source: The Economic Times

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Economy grows 9 per cent in 2007-08 - 31st May 2008

New Delhi: Buoyancy in agriculture sector lifted India's economic growth to 9% in 2007-08 from the earlier projection of 8.7%. This will be the third year in a row, when the Indian economy grew at the rate of 9% and above. In 2005-06, the economy grew at 9.4% followed by 9.6% in 2006-07.

source:  The Times of India

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Corporates can borrow up to US$ 50 million overseas - 29th May 2008

With pressures of excessive foreign exchange inflows receding, the Centre has relaxed external commercial borrowing (ECB) norms for companies, besides hiking foreign institutional investors’ (FII) exposure limits in Government securities and corporate bonds.

Source: The Hindu Business Line

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Indian beer market ready for new fizz - 21st May 2008

With consumers open to experimenting, manufacturers are introducing new sub-categories like low alcohol content and fruit-flavoured beers.
New Delhi: There's a fizz in the Indian beer market with beer lovers guzzling down more and more of the frothy drink and multinational beer majors introducing newer categories in the segment.

Source: Business Standard

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Government plans to raise FDI cap for CCEA nod - 19th May 2008

Foreign direct investments into India are set for a more liberal regime whereby companies will require only an FIPB approval for investments up to Rs 1,000 crore. Clearance from Cabinet Committee of Economic Affairs (CCEA) will be mandatory only for investments above Rs 1,000 crore.

Source:  The Economic Times

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Airports to emerge as business hubs: Study - 19th May 2008

All new airports in the country will emerge as business hubs with world class office, hospitality and retail space. The modernization and development of airports will not only provide the facelift to respective cities but also boost the real estate sector, said a report by Cushman & Wakefield.

Source: The Times of India

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Indian Railways to invest US$ 47.09 billion for modernisation - 15th May 2008

Indian railways will invest Rs 2,00,000 crore for the modernisation, capacity increase and completion of new projects during the 11th Five Year Plan, informed Railway Minister, Lalu Prasad Yadav in Singapore this week.

Source: The Economic Times

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Fruit and Vegetable sector to be a growth driver: Subhodh Kant Sahai, says at CII's F&V Summit – 13th May 2008

Fruit and vegetable is an emerging sector that holds a lot of opportunity for both agriculture and industry and is going to be the driving force of Indian economy, Subodh Kant Sahai, Minister of State for Food Processing Industries said addressing the the 'Fruit & Vegetable Summit 2008' organized by the Confederation of Indian Industry (CII) along with the Ministry of Agriculture and its affiliated institutions, the National Horticulture Mission and the National Horticulture Board that concluded in New Delhi today. 

Source: CII - Confederation of Idian Industry  

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India to become eighth wealthiest place by 2017: Barclays Wealth - 7th May 2008

Barclays Wealth on Wednesday published its report titled Evolving Fortunes, which signals the rise of emerging markets such as India, displacing more developed economies, with China, Brazil and Russia also reaching the top 12 wealthiest countries ranking.

Source: The Hindu Business Line

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Junior shoppers are now big business - 4th May 2008

With international labels now readily available, and trend conscious young customers and their parents ready to experiment, branded children's wear is making steady inroads into a Rs 17,000 crore market.

Source: livemint.com

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All Gujarat villages to get broadband connectivity - 2nd May 2008

After getting hooked to television through the Jyotigram Yojana, villagers in Gujarat will soon become Net-savvy. In a couple of months, an ordinary farmer in Gujarat might well be seen checking up commodity rates and weather reports on the internet, thanks to the state's initiative to provide 13,693 villages with broadband connectivity.

Source: Business Standard

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Indian companies to bid for foreign projects without Centre's nod - 29th April 2008

To boost Indian Inc's participation in global bidding, the Reserve Bank has exempted corporates from seeking prior permission of the central government for international competitive bidding (ICB) in forex.

Source: The Economic Times

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Visa norms get easier for tourists from 18 countries - 28th April 2008

Foreign tourists keen on visiting incredible India may no longer have to do umpteen rounds of the local Indian embassy to get their tourist visas. The government is considering a proposal to provide visa on arrivals to tourists coming from 18 countries, which already get five-year multiple entry visas.

Source: The Financial Express

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India, UK discuss strategic partnerships in the Railways sector - 25th April 2008

"The British railways industry is looking forward to forging partnerships with the Indian railways sector and has much to offer to by way of technology and expertise in this area", said Sir Tom Harris, MP, Minister of Railways, U.K., at the India-UK seminar on Railways 'Towards building greater partnership' organized by the Confederation of Indian Industry (CII) and UK Trade and Investment, in New Delhi today.

Source: CII - Confederation of Indian Industry

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Agri rebound: Grain output up 4.6 per cent - 23rd April 2008

After a near-stagnation or modest growth in output for several years, Indian agriculture is reckoned officially to have rebound in 2007-08 with foodgrain production surging by 10 million tonnes, or 4.6 per cent, to touch a new high of 227.32 million tonnes. The grain output in 2006-07 was 217.28 million tonnes.
The year’s grain output growth of 4.6 per cent is nearly four times the average annual growth of 1.2 per cent between 1990 and 2007.
The rebound is attributed to the record output of almost all major crops, including wheat, rice, coarse cereals, pulses, oilseeds and cotton.

Source: Business Standard

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Haryana solar project draws in big guns - 23rd April 2008

With companies like Reliance Industries Limited (RIL), EPURON, Admire Energy Solutions Limited (Moser Baer group company), Albina Power (an Indiabulls Company), Acme Telepower Limited and Emco Limited showing interest in harnessing electricity from solar energy in Haryana, the state government’s aim to add 10 per cent of the new capacity addition of power through renewable energy by 2012 seems a possible reality.
The Haryana Renewable Energy Development Agency (HAREDA), which is the nodal agency to promote and implement renewable energy projects, recently invited applications from independent power producers (IPPs) and other parties to set up solar photovolatic power (SPP) plants across the state.

Source: Business Standard

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Government may allow FDI in food retail - 22nd April 2008

The government is considering a proposal to allow foreign direct investment (FDI) in food retail albeit with a caveat that all companies would have to meet mandated export obligations. The Ratan Tata-led Investment Commission has favoured permitting FDI in food retail, especially fresh and processed fruit and vegetables, with export commitments.

Source: The Economic Times

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Indian technical textile market to quadruple: report - 22nd April 2008

Indian technical textile market could grow by more than four times to $37 billion by 2020 provided issues such as lack of product standards, R&D facilites and inadequate regulatory measures ensuring use of technical textiles are addressed, estimates FICCI-Technopak report.

Source : The Financial Express  

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India witnesses $4 bn PE investment in Q1 of 2008: Report - 22nd April 2008

The country witnessed private equity investments to the tune of four billion dollars in the first three months of this year, with real estate and infrastructure sectors accounting for a majority share, says a report.

Source: The Economic Times

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Infrastructure companies to get easy access to ECBs - 21st April 2008

External commercial borrowing (ECB) norms may be relaxed for infrastructure companies. The finance ministry, which is in favour of creating a special window for such companies, is expected to push for a review of the norms with the RBI.

Source: The Economic Times

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India has second-largest number of homegrown companies - 21st April 2008

India has the second-largest number of homegrown corporate champions holding their fort against the might of multinational giants, according to a recent Boston Consulting Group (BCG) report.
The country was ranked second behind China among the ten rapidly growing economies in terms of number of such homegrown leaders.
Consultancy firm BCG shortlisted 50 homegrown companies from developing economies such as Brazil, China, India, Indonesia, Malaysia, Mexico, Poland, Russia, Slovakia and Thailand that are leading their domestic markets and fending off fierce competition with innovative business models.

Source: The Economic Times

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Cement production to grow 11.5 per cent in FY 2009: CMIE - 21st April 2008

Cement demand outlook this fiscal remains healthy, driven by rising investment in construction and real estate sectors, the Centre for Monitoring Indian Economy (CMIE) said in its monthly report.
The CMIE expects cement production to grow 11.5 per cent and cement consumption 12 per capacity of the cement sector increased by about 22 million tonnes during FY08, of which cent during FY09.
The total annual installed 12.7 million tonnes were added during the March 2008 quarter. The CMIE expects another 25 million tonnes of new capacity to come on-stream in FY’09, boosting the production growth.

Source: Business Standard 

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Waking up to India: Developments in UK–India economic relations - 21st April 2008

There has been a significant improvement in economic relations between the UK and India since the 2006 report from the Trade and Industry Committee, which urged greater engagement with India. Both Government and private sector bodies have worked to achieve this. The sizeable investments and deals made both by Indian companies in the UK and British companies in India are encouraging signs of a deepening relationship which should benefit both countries. The establishment of the UK-India Business Council is perhaps the most tangible manifestation of this. This new report welcomes the improved climate, but identifies areas for further work.

Source: House of Commons

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India sees US$ 25 billion investment in port, shipping - 9th April 2008

India expects to double port capacity to 1,500 million tonnes by 2011-12 and would require Rs1 trillion ($25 billion) investment in the port and shipping sectors, federal shipping secretary A.P.V.N. Sarma said on Wednesday, 9 April.

Source: livemint.com

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UK fund manager ties up with Tata Group - 6th April 2008

British fund manager New Star Asset Managment has entered into a joint venture with the Tata Group that will see the two Companies launch an Indian equity fund for UK investors later this year.

Source: The Financial Express

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Exports register 35 per cent growth at US$ 14.2 billion in February - 1st April 2008

The country's exports clocked a 35 per cent growth in February 2008 with the cumulative export growth during the first 11 months of just-ended fiscal 2007-08 showing a robust growth close to 23 per cent in dollar terms, against heavy odds the exporters confronted throughout the year due to the unrelenting rise in the value of rupee.
Provisional trade data released by the Directorate-General of Commercial Intelligence & Statistics (DGCI&S) show that the country’s exports during February 2008 were estimated at $14.2 billion, against $10.5 billion in the corresponding month of 2007.

Source: The Hindu Business Line

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Emerging India Awards 2008 - ICICI Bank Business Banking

As globalisation takes root across the world, thinking global and going global will define future competitiveness. From domestic to international markets, from small and medium enterprises (SME) to big businesses, the future is about going global. Emerging India Awards is here to recognise and honour India’s most globally competitive small and medium enterprises.

The Last date for the application has been extended to 30th April 2008

Source: ICICI Bank Business Banking

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Exports may touch US$ 200 billion by 2009: CII - 30th March 2008

New Delhi: Exports from India are expected to touch $200 billion (Rs7,97,900 crore) by 2009, maintaining an annual growth of over 20% for the 2004-09 period, but it would require government support through tax refund schemes, said a survey of CEO’s conducted by industry body CII.
A CEO survey conducted by the CII on Foreign Trade Policy said to sustain the growth of exports, government should continue tax refund schemes such as Duty Entitlement Pass Book (DEPB), Export Promotion Capital Goods (EPCG), Duty Free Import Authorisation (DFIA) in the next fiscal as well.

Source: livemint.com

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Energy Derivatives and Emission Trading must be effective and sustainable: says new CII report - 28th March 2008

Energy Derivatives can provide a low cost energy alternatives and popularizing emission trading can go a long way in providing sustainable and effective energy solutions to a fast developing and energy starved economy like India, said H L Bajaj, Technical Member, Appellate Tribunal for Electricity, at a conference on Energy Derivatives and Emission Trading organized by the Confederation of Indian Industry (CII) along with the British High Commission in New Delhi this morning.

Source: CII - Confederation of Indian Industry

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India Inc hails JLR takeover by Tata Motors - 26th March 2008

New Delhi: The historic buyout of Ford Motor Co's global iconic brands Jaguar and Land Rover by Tata Motors for 2.3 billion dollars has been hailed by domestic industry, including Tata's competitors in the sector.
"This is a major landmark for Indian industry and a turning point in achieving quality and projecting brand - as the Jaguar and Rover represent some of the highest brand values," according to industry body FICCI.

Source: The Financial Express

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I&B gives go ahead to 24 per cent FDI in FM - 25th March 2008

Mumbai: The information & broadcasting (I&B) ministry has given its nod to a hike in the foreign direct investment (FDI) limit to 24% from the current 20% in FM radio operations.
Speaking to FE on the sidelines of the Ficci-Frames convention here, I&B secretary Asha Swarup said the proposal has been forwarded to the department of industrial policy & promotion (DIPP), the nodal ministry governing foreign investment.

Source: The Financial Express

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India, China to achieve trade target of US$ 60 billion by 2010 - 25 March 2008

India and China, the two fastest growing economies in the world, are set to achieve a bilateral trade target of $60 billion by 2010 despite the Indian industry becoming wary of signing a free trade agreement with the neighbouring economic giant.
China’s Ambassador to India Zhang Yan said here on Monday that the Chinese government would provide full support towards realising the target for bilateral trade, which is increasing by 50% per annum.
He said, the bilateral trade between the two countries was in order of $38 billion last year.

Source: livemint.com

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India to remain fastest growing IT services market in Asia Pacific - 25 March 2008

The IT services market in Asia Pacific (excluding Japan) is poised to reach $55.9 billion by 2011, representing a compounded annual growth rate (CAGR) of 10.5 per cent, with India as the fastest-growing IT services market in the region and China representing the largest regional opportunity.
According to Springboard Research, the IT services market in Asia Pacific, which stood at $37.5 billion in 2007 is slated to touch $55.9 billion in 2011.

Source: The Hindu Business Line

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Gold mining to draw FDI of US$ 24.77 billion - March 24, 2008

India is expected to attract foreign direct investment (FDI) of Rs 1,00,000 crore per annum in mining exploration of gold and diamond, according to Union Minister of State for Mines, Subbarami Reddy.
“Nearly 14 companies from Australia, Canada and South Africa have shown keen interest in bringing their technical expertise required for identifying the potential of a mining block,” Reddy said, adding that government officials would be visiting these countries to explore the possibilities of more investment.

Source: Business Standard 

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India to become second largest wireless network in world - 24th March 2008

New Delhi: Continuing its growth momentum, the country is set to surpass US to become the second largest wireless network in the world with a subscriber base of over 300 million by April, the Telecom Regulatory Authority of India (Trai) said on Monday.
“During the first half of April 2008, India’s wireless subscriber base that currently stands at 250.93 million will surpass that of the US to become the second wireless network in the world,” Trai said in a statement, adding that the country’s monthly wireless subscriber addition is highest in the world in the range of 8-9 million a month.

Source: The Financial Express

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Wi-Fi market in India to touch US$ 891 million mark by 2011-12: Study - 24th March 2008

New Delhi: Riding on realty, retail and other infrastructure sectors boom, including the Indian Railways, the adaptation of Wi-Fi in India is set to increase massively.
After witnessing a 100% increase in the number of hotspots (locations that are Wi-Fi enabled, where one can log on to the Net without using cables) to about 1,600 in 2007-08, this number is expected to increase by several multiple times during the current year.

Source: The Economic Times

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Reverse outsourcing: TCS in US - 22nd March 2008

The opening of the 1,000-seat delivery centre by India’s largest software developer TCS in the mid-western state of Ohio could not have come at a more opportune moment. It comes when the US economy is going into a tailspin and politicians there have upped the ante against US jobs being outsourced to India.

Source: The Economic Times

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Talent in India is second to none - 22nd March 2008

As the pace of information flow as well as means of gathering information increase, making sense of the data flowing in from various streams assumes greater importance, says Dr Anant Jhingran, vice-president and chief technology officer, IBM’s information management division. While India presents its own challenges to this task like unavailability of complete information, its talent pool is a great advantage, he says.

Source: The Economic Times

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Talent may be future driver of India's growth - 21 March 2008

All the bad news about the meltdown in the US share markets has deflected the world’s attention from what is arguably an even more fundamental problem facing the US economy: the sharp deceleration in productivity growth since the middle of 2004. It is a stronger indicator of a slowing economy, reducing business and yes, lowering job prospects.
Closer home, all of us are assured that the fundamentals of the Indian economy are strong. Yet, the recent fall in stock markets across the globe and the strengthening of the rupee against the dollar are events which continue the uncertainty in our minds.

Source: The Economic Times

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Software exports may grow 33 per cent in FY 2008 - 20th March 2008

Hyderabad: Software exports are expected to register a growth of 33 per cent in terms of dollar and 23 per cent in terms of rupee in the current financial year, according to an estimate by the Electronics and Computer Software Export Promotion Council (ESC). In absolute terms, exports during FY08 will workout to $45 billion (Rs 180,000 crore).

Source: Business Standard

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Private players to manage stations for first time - 19th March 2008

New Delhi: The Indian Railways will allow private companies that are mandated to modernize railway stations to also maintain, and earn revenue from, waiting rooms, parking lots, sanitation facilities and other services at the stations.
Until now, the railway ministry had maintained that the private players would earn their revenues by developing additional commercial space in the station complexes they are developing. However, Mint has now learnt that they would be allocated some more operations that were so far carried out by the railway zones concerned.

Source: livemint.com

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Education may see more private funds - 18th March 2008

New Delhi: A move that might bring in more money to the sector and change the funding pattern of the education sector, the Human Resource Development (HRD) ministry is now actively considering allowing private participation in elementary education to start with. A Bill has already been placed before the Parliament to allow 100% FDI in higher education. The government is also thinking of giving some of the education cess funds for Sarva Shiksha Abhiyan (SSA) to the corporates to achieve the flagship programme’s objectives.

Source: The Financial Express

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18 FDI plans of US$ 370.46 million get FIPB clearance - 15th March 2008

New Delhi: The government has approved 18 foreign direct investment (FDI) proposals that will bring in Rs 1,553 crore, including Rs 560 crore by Essar Capital. The Foreign Investment Paromotion Board (FIPB) approved the proposals at a meeting held on March 7th.
Essar Capital will acquire the status of holding company for downstream investments in India, said a statement issued here by the finance ministry. Cyprus-based commercial lending company Melbrook Ltd would bring in an FDI of Rs 125 crore and change its status from operating company to operating-cum-holding company.

Source: The Economic Times

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Industrial sector to grow by 10.4 per cent in FY 2009: CMIE - 14th March 2008

Mumbai: The latest government data on industrial growth has painted a gloomy picture but economic think-tank Centre for Monitoring Indian Economy (CMIE) says all is not lost and has pegged the expansion at 10.4 per cent for fiscal 2009.
"We expect the industrial production to grow by 10.4 per cent in FY 09. The current investment boom is expected to correct the slowdown problem," CMIE said in its monthly report. The reason for the current slowdown in industrial production was the supply problem faced by sectors like cement, aluminium, electricity and steel, it said.

Source: Business Standard

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New thrust in power sector offers huge opportunity to the industry: Power Secretary - 14th March 2008

The new 11th Plan target to add 78 Gigawatts power generation capacity, is an opportunity for India to emerge as a major power equipment manufacturing hub and a bonanza for the industry, Anil Razdan, Secretary, Ministry of Power, Government of India, said at the first ever national seminar on 'Power Equipment and Systems Industry' organized by the Confederation of Indian Industry (CII) in New Delhi today.

Source: CII - Confederation of Indian Industry

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India emerges as the top performer on Benetton's global chart - 13th March 2008

Bangalore: European fashion giant Benetton Group has perched India at the top of the priority growth markets as it works on an emerging markets strategy. This follows India’s emergence as the top performer with 58% revenue growth during 2007.
While unveiling the preliminary results for 2007, the Benetton Group board has identified five priority growth markets - India, Turkey, East European and ex-Soviet Union countries, Mexico and China - apart from chasing new growth drivers in established areas.

Source: The Economic Times

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India finds cheap energy may be an easy nut to crack - 13th March 2008

New Delhi: When police bring the traffic to an abrupt halt in Raipur, capital of the remote Indian state of Chhattisgarh, drivers know what to expect next. Soon, flashing red lights atop speeding government vehicles come into view. Raman Singh, Chhattisgarh’s chief minister, is passing through. Government motorcades are a common sight in Indian capitals. But what is different about this one is that all of Chhattisgarh’s official vehicles, including the chief minister’s Tata Safari jeep, are run on oil from the wrinkled black nut of a shrub-like tree called jatropha.

Source: Business Standard

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20th Century Fox to set up JV with Star - 12th March 2008

New Delhi: Twentieth Century Fox Film Corporation, one of the leading Hollywood studios and a News Corporation subsidiary, is all set to enter the Indian film industry in a joint venture with Star India, Rupert Murdoch’s television business in the country.
Though the nature of the JV is not clear, Vijay Singh, Star India’s president, Strategy and Corporate Development, is expected to head the motion picture company’s operations in the country.

Source: Business Standard

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Tata Motors plans $1bn securities issue - 11th March 2008

Tata Motors intends to raise Rs40bn ($1bn) through the issue of long-term securities in a move seen as bolstering its war chest for a planned acquisition of UK-based carmakers Jaguar and Land Rover, which are owned by Ford.

Source: Financial Times

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An offshore home run - 7th March 2008

From Canary Wharf to the Dubai marina, international luxury property agents are wooing Indian buyers  Nishant Joshi, 24, has been travelling to London with his family since he was 12, living with cousins or in hotels. A year ago, he decided to launch the Parisian fashion school Mod'Art International in India, and racked up frequent flyer miles by travelling to Europe nine times in the first year. 

Source: livemint.com

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From India to Bharat - Budget 2008 - SKP Group

So first the good news about the year that was!! 2007, though not a “bumper” year, was by no means a dull year for India Inc. Economy indicators highlight that economic performance during the period 2007-2008 was a good 8.7%, though a tad lower as compared to 9.6% in the FY 2006-2007. Services and Manufacturing continue to drive the economy with 10.7% and 9.1% growth respectively for the year. India has joined the elite club of 12 countries with a trillion dollar economy. Twenty Indian firms have made it to the Boston Consulting Group's 100 New Global Challenger Giants list.

The boom in the stock market has contributed to making India's 48 billionaires the wealthiest group in all of Asia. The Stock Market Indices – seemingly India’s growth indicator recurrently touched all time highs during the year. SENSEX showed an increase of almost 50% from 11,000 levels as on April 07 to an all time high of around 21,000 during mid-Jan- mainly driven by buoyant FDI & FII inflows aggregating to US$ 30.7 billion for the period April-December 2007.

Source: SKP Group

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India Budget Statement 2008

The Indian economy is slowing down. THe slowdown started in manufacturing in the early months of 2007. textiles were the first industry to suffer Vehicle.

Source: Corporate Catalyst India

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Growth and Inclusiveness: FM Provides the Right Balance, Says CII - 29th February 2008

The Finance Minister has presented a comprehensive, balanced and growth-oriented budget, said Mr Sunil Mittal, President, CII in a Press Release issued here today.

The Finance Minister has managed to address the triple challenge of growth inclusiveness and sustainability very astutely, said the CII President. The budget proposals would go along way in building people and building India, he added.

Source: CII - Confederation of Indian Industry

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Economic Policy Update - 28th February 2008

A Balanced and Growth Oriented Union Budget 2008-09

The Finance Minister, Mr P Chidambaram has presented a comprehensive, balanced and growth-oriented budget. The Finance Minister has managed to perform a balancing act between growth and inclusiveness very astutely.
The beneficiaries of the budget vary from farmers to industry to the average salary earner while managing fiscal prudence. However, CII hoped that the expected proposals of the Sixth Pay Commission have been kept in mind while balancing the budget, since any provision for that did not seem apparent from the Finance Minister’s speech.

The cornerstone of the budget has to be the obvious fillip that it would provide to consumption in the country and thereby pump up a demand led growth cycle. This would supplement the neutral stance that the RBI has just indicated in the last Monetary Policy Review. This is very important if the economy has to maintain its current growth trajectory and move to a double digit one.

Source: CII - Confederation of Indian Industry

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BIG Shopping Centres to build 60 malls; invest US$ 2.4 billion - 21st February 2008

BIG Shopping Centres on Thursday announced its entry into India's retail market with plans to develop 60 stores across the country in the next 10 years at an investment of about Rs 9,600 crore.
BIG India Malls Pvt Ltd, a joint venture company between Israel-based BIG Shopping Centres and US-based Lehman Brothers' wholly-owned special purpose vehicle BIG Mauritius Holdings, would develop the shopping malls over about 24 million sq ft of retail space.

Source: The Economic Times

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Telecommunication companies can now share their active infrastructure - 21st February 2008

The department of telecommunications (DoT) has approved industry regulator Trai’s recommendations to allow service providers share active infrastructure. The move will help telcos to lower tariffs and reduce their expenditure by well over 50%.

At present, Indian telecos are permitted to share only passive infrastructure like towers, repeaters, shelters and generators. Sharing of active infrastructure will allow operators to share key electronic components such as antennas, feeder cables, nodes, radio access network, transmission systems and backhaul.

Source: The Economic Times

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European firms to cash in on India's foundry boom - 20th February 2008

Foundry equipment makers from Europe are keen on boosting their Indian operations in light of plans by global firms to source castings from the country and the subsequent investments by the industry.

“To cash in on the export opportunities, Indian foundries have to invest in high pressure moulding lines, tooling and proto-typing, automated core lines, waste heat recycle system, good pollution control measures, ensuring adequate deliverable volumes and satisfying pollution norms,” V Mahadevan, president, Institute of Indian Foundrymen, said.

Source: Business Standard

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Tata to invest US$ 2 billion for global expansion - 13th February 2008

Tata Communications said on Wednesday more than 2 billion dollars over the next three years to fuel its global expansion plans.

In a filing to the Bombay Stock Exchange, the company said it is in the process of completing additional submarine cables systems connecting emerging Markets across the world.

Source: The Financial Express

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Pune to become largest education hub - 13th February 2008

Lured by picturesque surroundings and proximity to infotech hubs, institutes are moving in to Lavale village, near Pune.

While the controversies over Special Economic Zone (SEZ) proposals continue across the country, a small village located in a valley near Pune is fast developing as a Special Education Zone.

Source: Business Standard

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E-issuance of bonds may get duty waiver - 13th February 2008

The finance ministry is considering a proposal to abolish the stamp duty on electronic issuances of bonds and debts by corporate houses.

Capital market regulator Securities and Exchange Board of India (Sebi) had, last week, proposed the abolition of stamp duty for such debt issues in the forthcoming Union Budget.

Source: Business Standard

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India arm helps Tesco take on Wal-Mart in US - 12th February 2008

When Tesco, the £46.6 billion UK retailer, entered the US market in November, it was in a way taking on lion Wal-Mart in its own den. It had a major weapon in its armoury which Wal-Mart did not have — an India back office to cut costs.

To differentiate itself from Wal-Mart, Tesco, through its Fresh & Easy chain, has gone in for convenient neighbourhood stores which stock fresh foods, which is not a thrust area for Wal-Mart. But cost is one area where the two cannot avoid clashing, and this is where Tesco Hindustan Service Centre steps in.

Source: Business Standard

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 BT sector to occupy 140 million square feet by 2010 - 12th February 2008

The Indian biotech industry is set to grow and occupy 140 million square feet by 2010.

“Even though the country presently holds a minimal market share of 2 per cent of the global biotech market, it has immense potential to develop as a key player by 2010 and is expected to generate $5 billion revenues, creating employment for a million by 2010 through its products as well as services,” said international real estate consultants Cushman & Wakefield in its ‘Bio Reality in India Report 2008’.

Source: Business Standard

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Interior designing market set to register 60 per cent growth - 6th February 2008

The interior designing market in India is all set to register a 60 per cent growth rate this year. With the real estate sector expected to grow by 40-45 per cent, the interior designing market is catching up fast.

Source: The Hindu Business Line

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India to have 500 airports by 2020 - 6th February 2008

India's Civil Aviation Ministry has set a target of having 500 operational airports in the next 12 years, according to a report by Centre for Asia Pacific Aviation (CAPA).
CAPA said this will include the ongoing redevelopment of currently unused airports or little used airports and development of greenfield and cargo airports.

Source: The Economic Times

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Open sky policy extended till February-end - 5th February 2008

In a move to encourage India-bound tourists, the government has extended the limited open sky policy to February. The policy -- which allows foreign airlines to deploy additional capacity during the peak season -- was originally limited to December and January.

Extension of permission for additional capacity deployment in February too would allow all foreign carriers such as Emirates, Lufthansa and Singapore Airlines to offer more seats with extra flights and larger aircraft.

Source: The Economic Times

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HUL greens barren village - 5th February 2008

Creating effective water harvesting solutions help farmers sow crops throughout the year, reduce migration and raise per capita income.
For Bhairav Patil, a farmer in the hilly terrain of Parkhed village in the Vidarbha region, one crop per year was the maximum he could reap from his one acre of land.

Source: Business Standard

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Made in India - 3rd February 2008

Driving through the American countryside, an Indian visitor was taking in the sights when something caught his eye. Amid the vast, rolling fields was a farmer riding a Mahindra tractor. Conceptualised and designed at Mahindra and Mahindra's R&D centre in Mumbai, this made-in-India farm vehicle has managed to grab 6% of US market share in its segment. And now it's making inroads into mark-ets as diverse as Europe and Sri Lanka.

Source: The Times of India

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India Plans 4-Year Overhaul of Food Output - 26tth June 2007

New Delhi, June 26 - India will soon unveil a blueprint to raise production of basic foods and cut the need for costly imports, a senior farm official said on Tuesday, and aims to lift wheat output by 11 percent over four years.

Source: Reuters

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Financing Real Estate in India - 10th May 2007

It’s a huge figure we are looking at US$ 90 billion. That’s what Merrill Lynch forecasts that the Indian realty sector will grow to by 2015. As industry is enthusiastic about that figure, RBI has raised its voice of concern. It reasons that the portfolio inflows should confirm to the norms applicable to foreign direct investment (FDI) in the sector. Analysts feel that the central bank should revisit the FDI norms rather than curbing the portfolio inflows.

source: India brand equity foundation (IBEF)

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