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Saturday, October 27, 2007


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 Business and Economy


 
 
  1. SEZs Exports Nearly USD 5B (March 19, 2007)
    The Industry and Commerce Ministry has projected exports from 63 Special Economic Zones (SEZs) operational since February 2006 to be about Rs. 21,631 crore (USD 5 billion) out of an investment of Rs. 13,435 crore (USD 3 billion).<More>

  2. Reliance and Nova Talk JV (March 19, 2007)
    Reliance Industries (RIL) Group is apparently talking to USD 6.5 billion U.S. based plastics and petrochemicals major Nova Chemicals about a joint venture (JV) that would include product swaps and infrastructure sharing.<More>

  3. The Britannia Breakup (March 19, 2007)
    Collaboration between Groupe Danone and Wadia family owned Bombay Dyeing in running Britannia India and Wadia BSN is dead and the entities are breaking up these companies to settle accounts.<More>

  4. NABARAD Bonds Worth Rs. 5000 cr (March 19, 2007)
    The National Bank for Agriculture and Rural Development (NABARD) plans to raise Rs. 5000 crore (USD 1.13 billion) through capital gains bonds to provide refinance to cooperative institutions for stepping up farm and rural credit.<More>

  5. Govt Panicking on Wheat (March 19, 2007)
    In a series of moves that includes undue hikes in procurement price and import plans despite strong forecasted production, the government is sending messages that it is anticipating large shortages in wheat.<More>

  6. Textile Exports to Double (March 19, 2007)
    With the abolition of the quota system in developed nations and development subsidy of Rs, 942 crore (USD 214 million), the Federal Minister of State for Textiles E V K S Elangovan estimated that the textile exports will double in the next three years.<More>

  7. U.S. Trade Court Dismisses Shrimp Anti-Dumping Charges (March 19, 2007)
    In a significant loss for U.S. charges of anti-dumping against Indian shrimp exporters, the U.S. Court of International Trade (CIT) dismissed US Bureau of Customs Border Protection (CBP) directives for bonds matching the duty as security.<More>

  8. Teleradiology in Singapore JV (March 13, 2007)
    Bangalore based Teleradiology solution announced a joint venture with Singapore 's National Healthcare Group (NHC) where Teleradiology will tap global market through NHG which in turn will tap Teleradiology for manpower.<More>

  9. Germany, Singapore Take Stake in BSE (March 13, 2007)
    Deutsche Börse and Singapore Exchange Ltd. (SGX) have negotiated minor stakes in Bombay Stock Exchange Ltd. (BSE) that is seen as positioning the nation better in a global-economy.<More>

  10. Chola's Overseas Fund (March 13, 2007)
    DBS Chola Mutual Fund plans to launch a scheme to invest exclusively in overseas assets to allow investors to spread their risks better and reduce country risk and this fund provides a unique opportunity to Indian investors.<More>

  11. Toshiba-L&T in Power Generation (March 13, 2007)
    Japanese conglomerate Toshiba Corp said it is talking to Larsen and Toubro (L&T) Ltd to start a joint-venture to make equipment specifically for and create new coal-fired power generation plants.<More>

  12. Ore Export to China Hit (March 13, 2007)
    Responding to concerns from environmental groups, domestic steel businesses, and manufacturing houses, the federal government had imposed an export duty of Rs. 300 per ton but Chinese importers are boycotting Indian ore demanding exporters absorb the duty.<More>

  13. Glenmark's Expansion in Brazil (March 13, 2007)
    Glenmark Pharmaceuticals is planning to double the production capacity and headcount of its manufacturing unit in Brazil in two years and use this production to reach South American markets.<More>

  14. Wal-Mart and Bharti Plan 3 Retail Brands (March 13, 2007)
    U.S. retail major Wal-Mart and Bhrati Group are planning to use three brand names and store formats for the Indian market including a cash and carry, front-end retail outlets, and franchisee-owned stores.<More>

  15. Indians Buying Malaysia Property (March 12, 2007)
    About 700 rich Indians, businessmen, and film stars seem to buying property for residential properties in Kuala Lumpur after Malaysian Government modification of rules regarding foreign ownership of property in December 2006.<More>

  16. Maxis Budgets Rs. 2000 Crore (March 12, 2007)
    Malaysian company Maxis Communications owning 74 per cent stake in mobile telecommunications operator Aircel Cellular plans to invest Rs. 2000 crore (USD 454 million) and reach eight million subscribed in 2007-08.<More>

  17. BMW from Chennai by March (March 12, 2007)
    BMW India announced plans to roll out its first car (BMW 320ia) from the Chennai manufacturing hub by the end of March and also disclosed plans to manufacture the 5 series from India.<More>

  18. Suzlon Buys REpower for €1.02B (March 12, 2007)
    World's fifth largest wind turbine marker Suzlon Energy outbid French Areva offer by 20 per cent to buy Germany-based REpower Systems on an all-cash deal worth €1.02 billion along with Portugal's largest builder Mota Engil.<More>

  19. US State of Georgia Trade Office in Bangalore (March 12, 2007)
    The U.S. State of Georgia is planning to extend trade office by Fulton County and set up a full-fledged trade office in Bangalore to find new markets for Georgia-made products, attracting new investments, and promoting tourism.<More>

  20. Essar Looking at Minor Stake in Libyan Oil (March 12, 2007)
    The Essar Group is looking to pick up a minor stake of 20 per cent in Phoenix Libya, oil and gas field, with rights to increase stakes to 50 per cent.<More>

  21. India Set to Become No 2 in Telecom (March 12, 2007)
    According to Telecommunications Minister Dayanidhi Maran, India will overtake the U.S. and assume the second position in subscriber terms in 20 months.<More>

  22. Jindal's Bolivian Steel Plants for USD 2.1B (March 12, 2007)
    Steel major Jindal Steel and Power Ltd (JSPL) announced agreements with Bolivia to invest USD 2.1 billion to set up a six million tonne sponge iron plant, 10 million pellet plant, and 1.7 million ton steel plant.<More>

  23. India No. 2 Investor in Bavaria (March 12, 2007)
    According to foreign trade and location marketing of German state of Bavaria Thies Claussen, India may soon assume the second largest foreign investor in the state known for technology and industry.<More>

  24. U.S. Prelim Anti-Dumping Duty on Shrimp (March 05, 2007)
    The U.S. Department of Commerce announced preliminary anti-dumping duty (averaging 10.54%) on shrimp from India, China, Vietnam, Brazil, Ecuador, and Thailand.<More>

  25. UK Bank to Close Direct Interface Call Center (March 05, 2007)
    The United Kingdom's largest consumer loan provider, Lloyds TSB Group, has capitulated to domestic union and labor demands to stop off shoring activities to India and closed its direct interface operations.<More>

  26. India Willing but Cautious on WTO (March 05, 2007)
    In a one-to-one meeting, Minister for Commerce and Industry Kamal Nath has reportedly told his European Union counterpart Peter Mandelson that India is willing to restart the stalled Doha Round but is unwilling to rush into a deal.<More>

  27. Essar Negotiating 20% Stake in Libyan Oil Field (March 05, 2007)
    The Essar group is negotiating with Phoenix Libya (a subsidiary of Phoenix AG) to buy 20 percent stake with rights to buy up to 50 per cent in an oil and gas field in Libya and also plans to take oil and gas blocks in Iran, Papua New Guinea, and Libya.<More>

  28. BG-ONGC $1B Investment in KG (March 05, 2007)
    British major BG Group Plc and Indian major Oil and Natural Gas Corporation (ONGC) announced plans to invest USD 1 billion in the Krishna Godavari basin oil and gas block.<More>

  29. TVS Unit Sold to Finnish Company (March 05, 2007)
    TVS Electronics is planning to divest its electronic contract manufacturing services business to Finland based Incap Corporation for Rs. 50-60 crore (USD 11-13 million) to re-focus on its core peripherals business.<More>

  30. Hindalco's Novelis Offer (March 05, 2007)
    Hindalco Industries announced that it will make a preferential allotment worth Rs 2,600 crore (about $565 million) to part-finance the company's recent acquisition of US aluminium company Novelis.<More>

  31. Informatica Plans Expansion (March 05, 2007)
    The USD 325 million data integration software products company Informatica, is planning to grow its customer support services business from its India centre in Bangalore and handling one-third of its customer services.<More>

  32. US Tech Spending from India to Increase (March 05, 2007)
    A Deloitte survey reported that the U.S. will increase its technology services procurement from India and China over the next three years with banks leading increasing its spend of 6% of annual IT spend of USD 44 billion to 30% by 2010.<More>

  33. PowerGrid to Raise Rs. 3800 Cr Debt (February 27, 2007)
    The Power Grid Corporation of India Limited (PGCIL) is planning to raise Rs. 3,800 crore (USD 863 million) through debt instruments such as bonds and loans during the fiscal year 2007-2008.<More>

  34. China to Buy India Coffee (February 27, 2007)
    Specialty Coffee Association of Hong Kong & the People's Republic of China Director Barry Yuen said that China has an estimated five million coffee drinkers whose needs are mostly met through imports.<More>

  35. Populist Railways Budget (February 27, 2007)
    Railways Minister Lalu Prasad Yadav presented a populist budget that cut prices across the board with the claim that increased traffic will bring in more revenue but critics have castigated him on adopting policies that will ruin Railways.<More>

  36. Vodafone Headsets in India (February 19, 2007)
    China's leading telecom gear maker the $7.3-billion ZTE Corp has reportedly met with Vodafone Group to set up a world-class GSM handset manufacturing hub in India to meet low-cost handset requirements for Indian, Brazil, and Russian markets.<More>

  37. Swiss Triumph to Expand 5000 (February 19, 2007)
    Switzerland headquartered innerwear brand Triumph International revealed plans to employ 5000 workers at its new manufacturing facility near Chennai to produce 15-20 million lingerie units.<More>

  38. Low-Cost US Motels to India (February 19, 2007)
    US-based Patel Motels along with others such as Super8 Motels, Country Hearth, Best Inns, and Best Value Inn are to enter India through the franchisee route and develop at least 20 Greenfield properties in metros and secondary cities.<More>

  39. Italian Haute Couture Line in India (February 19, 2007)
    Italian USD 833 million Sixty Group revealed plans to enter the Indian market through exclusive nine-year franchising and trading partnership with Delhi-based Indus Clothing.<More>

  40. ONGC-ENI Energy Swap Deal (February 19, 2007)
    The Oil and Natural Gas Corporation (ONGC) and Iralian ENI SpA signed an energy swap deal where ONGC will take a 20-25 per cent stake in a Congo block that ENI owns in return for a 30-35 per cent stake in Mahanadi basin block.<More>

  41. AP- Ras Al Khaimah Ceramic Tile Project (February 19, 2007)
    The Ras Al Khaimah (RAK) has signed an agreement with the Government of Andhra Pradesh (AP) to invest Rs. 9,000 crore (USD 2 billion) to set up an alumina plant and aluminum smelter unit to be used to produce ceramic tiles.<More>

  42. Toyota's Small Car Plant (February 19, 2007)
    Japanese car major Toyota Motor Corporation is reportedly planning an investment of USD 330-420 million to set up a small car plant near its existing facility near Bangalore with an initial capacity to manufacture 100,000 cars a year.<More>

  43. Norwegian Orkla Buys MTR (February 19, 2007)
    The USD 8.8 billion branded consumer goods, speciality materials and financial investments Norwegian company Orkla has reportedly bought out MTR Foods at a price of USD 100 million.<More>

  44. Disinvestment Has Morphed, Restarted (February 09, 2007)
    In a bid to restart disinvestment policy stalled by allies of the government, Finance Minister P. Chidambaram said that the cabinet has approved the offload of a small part of its holding in three public sector power companies.<More>

  45. India to Joins Madrid Trade Mark System (February 09, 2007)
    The Federal cabinet approved Indian's accession to the Madrid Protocol on International Registration of Marks to provide better and extensive protection abroad for Indian marks owners.<More>

  46. ONGC Gets 24 of 52 NELP VI Blocks (February 09, 2007)
    India approved 52 oil and gas blocks and and the Oil and Natural Gas Corporation (ONGC) bagged 24 of them.<More>

  47. Achieving a Sustainable Economic Growth Rate (February 08, 2007)
    In yesterday's piece "Is the Economic Growth Sustainable?" we showed that the Indian economy has excellent fundamentals but is also riddled with risk. In this article, we will list various fixes that are necessary to ensure that the growth rate continues.<More>

  48. Is the Economic Growth Sustainable? (February 07, 2007)
    If economic reforms keep pace, in the next several years, the Indian economy is expected to pass Italy, France, and the UK and become the fifth largest in the world spurred by more efficient industries competing with the global system.<More>

  49. Singapore Distraught About SEZ Freeze (February 07, 2007)
    The Singapore government has demanded explanation from the government on the recent policy to freeze the Special Economic Zone (SEZ) approvals and notifications.<More>

  50. RBI Squeezes Money Supply (February 06 , 2007)
    The Reserve Bank of India (RBI) hiked the Repo Rate to control money supply making loans more expensive and also limiting risky credit exposure in sensitive areas—this key rate is the rate at which banks lend against government bonds.<More>

  51. Govt to Buy SBI, NABARD off RBI (February 06 , 2007)
    In a surprising move, the government has decided to buy India’s largest bank State Bank of India (SBI) and National Bank for Agriculture and Rural Development (NABARD) from the current holders Reserve Bank of India (RBI).<More>

  52. Farmers to Co-Own SEZs (February 05 , 2007)
    With increased opposition from farmers over arbitrary allocation of farm land for Special Economic Zone (SEZ) industrialization, the federal government seems to have evolved a formula where the dispossessed farmers may co-own SEZs.<More>

  53. Russia Supports Natural Gas Cartel Idea (February 05 , 2007)
    Russia has proposed a gas producing cartel idea from Iran along the lines of the oil producing cartel so natural has exporters can come under a banner to control output to keep prices at higher levels.<More>

  54. US-China IPR Spat (January 31 , 2007)
    As trade gap between the United States and China widened, the countries appeared to be on collision course over intellectual property rights (IPR) with Washington accusing Beijing of counterfeiting American goods.<More>

  55. US-China IPR Spat (January 31 , 2007)
    As trade gap between the United States and China widened, the countries appeared to be on collision course over intellectual property rights (IPR) with Washington accusing Beijing of counterfeiting American goods.<More>

  56. Indo-Australia Trade Prospects (January 30 , 2007)
    In an interview with Deccan Herald, Australian Trade Commissioner for South Asia Michael Moignard advocated increased trade and value addition from Australia to boost bilateral trade levels from USD 8.6 billion.<More>

  57. Indian Economy to Surpass US by 2050 (January 29, 2007)
    A recent Goldman Sachs study projected that India, along with China, will surpass the US economy by 2050 as India has moved onto a much faster trajectory fueled by strong and steady manufacturing productivity gains.<More>

  58. Wipro in Saudi JV (January 25, 2007)
    Wipro Infotech and Dar Al Riyadh Group formed a joint venture called the Wipro Arabia Ltd specifically to cater to the IT market in Saudi Arabia with Wipro owning 2/3rd and the Saudi partner the rest.<More>

  59. “Red Tapism” Slowing Indo-UK Trade (January 25, 2007)
    Chairman of the Indo-British Partnership Network (IBPN) Lord Karan Bilimoria said in an interview with the Times of India that although “reduced to a great extent,” the biggest bottleneck to further bilateral trade is “Red tapism.”<More>

  60. Pak Hurdles on SAFTA (January 25, 2007)
    Hailing Afghanistan’s entry into the South Asian Association for Regional Cooperation (SAARC), an Indian official complained about Pakistan’s refusal to implement South Asian Free Trade Agreement (SAFTA) which impeded regional trade.<More>

  61. M&A Worth $8B in FDI (January 24, 2007)
    Global economists have predicted that the “high performance of the Indian economy” infused by “the improving policy environment” is expected to accelerate “direct investment” to USD 8 billion from USD 6.5 billion the previous year.<More>

  62. IT Revenues Projected at USD 47B (January 24, 2007)
    An industry review of Information Technology and Information Technology Enhanced Services (IT/ITES) projected a 28% growth revenue from these sectors to net USD 47.8 billion and its portion of gross domestic product (GDP) at 5.4% in 2006-07.<More>

  63. India Bullish on Growth (January 23, 2007)
    A recent survey of 200 business houses found that business confidence index for October 2006-March 2007 was higher by 2.5 points at 71.8 from the previous 6 months and 85% of the respondents revealed plans for increased investments.<More>

  64. Stalemate on SEZ (January 23, 2007)
    The Empowered Group of Ministers (EGoM) for Special Economic Zones (SEZs) ended its review meeting “inconclusively” but said that it is considering ways of infusing “export obligations” in order to differentiate between proposals.<More>

  65. FDI Grows 120% (January 22, 2007)
    Commerce & Industry Minister Kamal Nath said that Foreign Direct Investment (FDI) inflow surpassed all previous projections and is expected to grow at 120% to USD 15 billion this fiscal year.<More>

  66. Over 200m Jobs by 2020: Brown (January 22, 2007)
    British Prime Minister in waiting and Chancellor of the Exchequer Gordon Brown said that India is set to create 25% of extra jobs or an estimated 200 million jobs by 2020 which will be more than the numbers created in the US, Europe, and China put together.<More>

  67. Need to Resuscitate Doha Round  (January 20, 2007)
    “Confident that India will make a constructive contribution to the last laps,” World Trade Organization (WTO) Chief Pascal Lamy warned that the “window of opportunity” will “close sometime this year.”<More>

  68. SEZ Policy on Hold (January 20, 2007)
    Spreading protests from farmers arbitrarily thrown out of their land for below-the-market payments to create under-planned Special Economic Zones (SEZ) has prompted the government to suspend this policy.<More>

  69. Indo-Russia Trade Needs Addressing (January 18, 2007)
    Ahead of Russian President Vladimir Putin’s visit later in January, Indian industry leaders want a permanent vehicle to discuss and manage non-tariff barriers and developing reliable trade routes is created.<More>

  70. UK Interests in Indian Agriculture (January 18, 2007)
    The largest business delegation from the UK totaling representatives from 150 businesses has promised investments in food processing, agriculture retail, and manufacturing and also seeks deregulation of financial, legal services, and retail sectors.<More>

  71. FDI & FII May be Merged (January 17, 2007)
    The government is reportedly mulling to amend the Foreign Exchange Management Act (FEMA) to remove theoretical distinction between foreign direct investment (FDI) and foreign institutional investor (FII).<More>

  72. Tele-Density Rises (January 17, 2007)
    Keeping pace with a smart economic growth, tele-density (the number of telephone subscribers) surged to 17.16% or 189.33 million users in December 2006 with wireless subscribers registering the largest segment with 149.5 million. <More>

  73. Stronger Pitch in Sakhalin Bid (January 17, 2007)
    Responding to Russian President Vladimir Putin’s invitation of a higher Indian participation in his country’s energy sector, Indian oil major Oil and Natural Gas Company (ONGC) may tie-up with Russian firms for a larger bid in Sakhalin-III project. <More>

  74. Economic Outlook for 2006-2007 (January 16, 2007)
    Prime Minister Manmohan Singh’s high-powered economic advisory council (EAC) presented their economic outlook projecting current account deficit (CAD) of 1.5%, foreign direct investment inflow of USD 9 billion, and reserve buildup of USD 22.6 billion.<More>

  75. More Areas for Wheat & Maize (January 16, 2007)
    An Agriculture Ministry note claims that the area with wheat and maize cultivation this year is larger than that of 2005-06 in Bihar, Gujarat, Karnataka, Madhya Pradesh, Maharashtra and Uttar Pradesh lending hope of higher production of these staple crops.<More>

  76. 2006 Exports Topped Expectations (January 11, 2007)
    Indian exports achieved a key milestone when it crossed the psychological barrier of USD 100 billion in 2006 with a growth rate of 24% and over 13% of total gross domestic product (GDP) valued at USD 800 billion compared to 6% in 1990-91.<More>

  77. Problems with SEZ Policy (January 11, 2007)
    The Industry and Commerce Ministry has rightfully taken credit for the creation of the Special Economic Zones (SEZ) Act 2005 but the policy lacks transparency and seems ad hoc in implementation.<More>

  78. Next Outsourcing Wave Anticipated (January 10, 2007)
    A recent study suggests India would start seeing a new wave of Business Transformation Outsourcing (BTO) where consultants will advice clients on transforming businesses, enhance performance, and make strategic decisions.<More>

  79. Call to Open Govt IT Procurement (January 10, 2007)
    A non-profit public policy think tank asked India to open up government Information Technology (IT) procurement policies by removing restrictions on foreign manufactured equipment and instituting stronger intellectual property rights (IPR) protection mechanisms.<More>

  80. Hardware Blossomed in 2006 (January 09, 2007)
    Having established itself as a major information technology and related services sector, India saw an increasing number of hardware manufactures attracted to the country driven largely by the promising domestic market.<More>

  81. Biogas Innovations Promising (January 09, 2007)
    Ashden Awards extended to “organizations which have carried out truly excellent, practical, yet innovative schemes demonstrating sustainable energy…at a local level” has come to many Indian organizations.<More>

  82. YSR’s Electricity Sops (January 04, 2007)
    Andhra Pradesh (AP) Chief Minister Y.S. Rajasekhara Reddy (YSR) said that his government will absorb the additional cost burden of electricity incurred because of purchases from federal pools at a higher cost.<More>

  83. RBI Rate-Based Navigation (January 04, 2007)
    While the economy was in full throttle last year, increasing concerns on excess liquidity and inflation saw the Reserve Bank of India (RBI) trying to steer the economy to sustainable levels through a process of rate hikes.<More>

  84. Belarus-Russia Gas Conflict (January 02, 2007)
    Allies Russia and Belarus seem to be heading for a stalemate over the price of gas that can plunge Europe into gas shortages if supplies are halted by Russian company Gazprom and affect its living and businesses.<More>

  85. Increased Foreign M&A Projected (December 27, 2006)
    Investment bankers and analysts project increased merger and acquisitions (M&A) activity in the information technology (IT) space where smaller Indian companies are acquired by larger foreign players but do not rule out a large deals either.<More>

  86. Energy Concerns & Alternatives (December 25, 2006)
    As India’s economy grows at a breathtaking 9.1% its hunger for energy to sustain this growth is higher and though per capita energy consumption is relatively low, its energy use is expected to surpass Russia and Japan to be the third largest consumer of energy by 2030.<More>

  87. Govt to Divest from Maruti (December 23, 2006)
    After 25 years of partnership with Japanese Suzuki Motors through Maruti Industries, the Government has decided to sell its remnant 10.27% stake for an estimated Rs. 2,700 crore (USD 586 million) to overcome budget deficits.<More>

  88. ustainable 9% GDP Growth (December 21, 2006)
    Led by strong manufacturing growth, the economy grew at a robust 9.1% in the first half of fiscal year with exports clocking 34.9% prompting the government to claim that the growth pattern “reflected the ability of Indian manufacturers to meet international standards.”<More>

  89. India OK to Pay More for Iranian LNG (December 19, 2006)
    India announced that it is considering paying a higher price of up to USD 4.50 per million British thermal units (BTU) for Iranian Liquefied Natural Gas (LNG) and close a long-term supply deal to fuel its fast growing economy.<More>

  90. Mining Policy to Attract FDI (December 13, 2006)
    A new mining policy is being formalized aiming to attract more foreign direct investment (FDI) through joint ventures which is now only USD 150 million and the new target investment value is Rs. 100,000 crore (USD 22.22 billion) in the next 2 years.<More>

  91. NE Power to North (December 08, 2006)
    The central transmission utility under the Power Ministry Powergrid Corporation is launching a critical power transmission project that will connect power rich North East, estimated at 50,000 megawatts, with power starved rest of India.<More>

  92. Impact of China-Pak FTA (December 07, 2006)
    A closer look at the China-Pakistan Free Trade Agreement (CPFTA) to targeted at specific products for trade and opening avenues to liberalize services shows that this deal may not affect Indian businesses or trade with China or Pakistan.<More>

  93. Mauritius Tax Treaty in Trouble (December 06, 2006)
    The Indo-Mauritius comprehensive economic cooperation and partnership agreement (CECPA) bilateral treaty covering investment and trade in goods and services has hit a hurdle with New Delhi demanding disclosure of cover-up companies hiding identities.<More>

  94. India, EU Talk FTA (December 06, 2006)
    India and the European Union (EU) have signed a “Joint Feasibility Study” to pave way for a regional and bilateral free trade agreement even as officials acknowledge that a multilateral trade agreement is preferable.<More>

  95. Growth 9%, Deficit Contained (December 01, 2006)
    The economy grew an astounding 9% in the first half of fiscal year (at 9.2% in Q2) due to impressive manufacturing sector performance and despite slowdown in the farm sector, inflation concerns, and ballooning fiscal deficit.<More>

  96. Oct Exports Down (November 30, 2006)
    Indian export growth which have been growing at breakneck speed in the first half of fiscal year, decelerated to 18.51% valued at USD 9.6 billion (from USD 8.1 billion last year) raising fears that overall cumulative growth for the year may be impacted.<More>

  97. GSP Retaliation for WTO Negotiations (November 30, 2006)
    Even though there has been an overwhelming support for the Indo-US civilian nuclear deal among US policy makers, India is nervous about how they will deal with the Generalized System of Preference (GSP) mechanism set to expire next month.<More>

  98. Iran’s Proposed Price Rejected (November 29, 2006)
    In rare unity, India and Pakistan have rejected a proposal by Iran–appointed consultant with new pricing for the USD 7 billion Iran-Pakistan-India pipeline project because “certain parameters given by Iran, was not acceptable to India and Pakistan.”<More>

  99. Govt Promises Economic Reforms (November 28, 2006)
    India is planning to allow foreign direct investment (FDI) in the healthcare and education sectors, continue with reforms in the financial sector, and dilute government equity in public sector enterprises through the Initial Public Sector Offering (IPO) route.<More>

  100. Govt Promises Economic Reforms (November 28, 2006)
    India is planning to allow foreign direct investment (FDI) in the healthcare and education sectors, continue with reforms in the financial sector, and dilute government equity in public sector enterprises through the Initial Public Sector Offering (IPO) route.<More>

  101. Demands to Phase-Out Ore Export (November 24, 2006)
    The Federal Steel Ministry, at variance with the Mining and Commerce Ministries, demanded that iron ore exports be phased out since “current ore reserve is slated to last only 60 to 70 years” and this policy could jeopardize the stability of domestic steel units.<More>

  102. Railways Profits Up (November 24, 2006)
    The largest railways in the world, the Indian Railways, reported earnings in November at Rs. 1706 crore (USD 370 million) and an increase of 22% from last year due to better freight and passenger capacity utilization.<More>

  103. India’s Faltering Energy Strategy (November 23, 2006)
    Gearing for the future, India is formulating a policy for development of Natural Gas Pipelines for cities and on November 16, met with a number of prospective providers including Exxon Mobil, BG, Shell, RIL, ADAG, TERI, BP ( India ), and Oil PSUs.<More>

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