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INDIA INTELLIGENCE REPORT
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New
foreign trade policy will It
also plans to simplify procedures. The new policy will subsume the previous Export-Import policy which has become largely redundant as a result of deregulation and liberalisation. Panel
to study IDPL revival:
The 400-odd employees of Indian Drugs and
Pharmaceuticals Limited (IDPL) saw a silver lining with Minister of Chemicals and
Fertilisers Ram Vilas Paswan deciding to set up a committee of experts to go into prospects of its revival. Cheaper
air fares fail to hit AC train occupancy:
The railways today said that there was no decline in air-conditioned
train occupancy following the introduction of cheap airfares by
airlines. Shell
set to get permit for petrol, diesel retailing:
The Government is set to allow Shell India Pvt Ltd to set up 2,000
retail outlets in the country for marketing petrol and diesel. This
follows the multinational oil and gas major fulfilling
investment criteria. Task
force to recover indirect tax arrears:
The Central Board of Excise and Customs (CBEC) has decided to
constitute a dedicated task force for recovery of the indirect tax
arrears that are due to the exchequer.
Crisil
expects better earnings for select NBFCs: Non-banking finance
companies (NBFCs) that have restructured their
business models in the past three-four years are expected to report
better earnings in the future.
ICSI
mulls new cadre for banks: The Institute of Company Secretaries of India (ICSI) is now looking
at creating niche job for its professionals in the banking sector.
It proposes to initiate talks on the issue with the Reserve Bank of
India.
Breakthrough
in WTO talks \97 industry response cautious: The breakthrough in the world trade negotiations under the auspices
of World Trade Organization (WTO), after intense and emotive
sessions of bargaining between rich and poor or developed and
developing countries, has been greeted with cautious optimism. Insurers
offer `indexation options':
Insurance companies are offering indexation options to clients with
a view to providing a hedge against inflationary pressures.
Amway
set to begin manufacturing in India:
Nine years after the company arrived in India with a promise to set
up a manufacturing facility, Amway India Enterprises, the wholly
owned subsidiary of US-based Amway Corporation, has informed the
Government that it is finally ready to begin production.
TCS,
Wipro remain on top: Tata Consultancy Services and Wipro have managed
to hold on to their number one and two positions in the ranking of
IT companies top 20 of which account for 50 per cent of the entire
Indian IT industry.
Corporates
to raise $790 m: Corporates have informed the Reserve Bank of India
their intention of raising over $790 million through External
Commercial Borrowings under the automatic route. PNB
recovers Rs 26 cr from defaulters: The Northern Zone of the Punjab National Bank (PNB) has recovered a
sum of Rs 25.92 crore from defaulters. Radio
Mirchi, Pepsi have best promos:
Pepsi India\92s Cricket World Cup campaign and Radio Mirchi\92s
\91Kismat Khol De\92 figure among the best promotional campaigns in
Asia. P&G,
CSIR join hands for research: Procter & Gamble of the US on Monday announced a strategic
tie-up with the Council of Scientific and Industrial Research (CSIR)
to support acceleration of its `Connect and Develop' strategy. Modis
object to Xerox
Corp venture: The US-based Xerox Corporation, which is under investigation both in
the US and in India for allegedly bribing Indian Government
officials to secure high-value orders, now plans to turn its Indian
joint venture subsidiary into a wholly owned unit.
HPCL
unveils VRS package: HPCL, the second largest public sector oil marketing company, today
announced a voluntary retirement scheme (VRS) for its employees. New trade policy will adapt to
WTO: The government is working on an updated trade policy. Amway said it would produce:
The marketing company said it was keen on setting up production
India. |