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Business & Economy
Comprehensive law soon
on dual-use technology
What is India News Service, Tuesday, 19
April 2005, 1600 hrs IST
Since any decision regarding dual-use technology items is taken at the inter-ministerial level, there should be a central norm governing these items. At present, the export-import aspect is covered under the FTDR Act, but not the military or defence aspect.
"Now all these legislations will be subsumed under
a new law,\94 an official told Business Standard.
The official said a final view on who would pilot the legislation would be taken soon, but added it was likely to be the external affairs ministry or the home ministry.
The export of dual-use technology items, at present, is restricted to items mentioned in the SCOMET (special chemicals, organisms, materials, equipment and technologies) list.
The SCOMET list includes nuclear materials, toxic chemicals, micro-organisms, fungi, parasites, viruses, aerospace materials, equipment and related technologies.
An exporter has to apply for a licence from the government, and obtain a certificate from the end-user, specifying the purpose for which the item will be used.
In certain cases, the Centre also seeks a certificate counter-signed by the government of the importing country, stating that the item is for peaceful purposes only.
Petrol
pumps observe strike as talks fail:
Petrol pump owners across the country went on a day-long strike on Monday after
repeated attempts to convince the Government for increasing the commission on
sale of petrol and diesel met with little success.
Govt mulls controls on sting operations: The hidden camera might not be
allowed to sting at the `wrong places' and at the `wrong time' anymore.
Mid-cap
funds turn into wealth creators : Mid-cap funds stole the
show as the primary wealth creators, while tech & FMCG sectors also gained.
Ministries still to agree on mode of divesting in OIL: Oil India Ltd (OIL)
may have to wait a while before it is able to come out with an initial public
offering (IPO). The differences between the Ministry of Petroleum and Natural
Gas and the Ministry of Finance are yet to be sorted out.
TCS
falls 11% on under par Q4: Tata Consultancy Services
Ltd, India's largest software services exporter, reported a disappointing 30 per
cent rise in quarterly profits amid a slowdown in US outsourcing demand.
Better
Indo-Pak ties to benefit both: S&P:
The recent improvement in ties between India and Pakistan promises distinct
benefits for both countries, if the thaw translates into lasting peace on the
subcontinent, said Standard & Poor\92s Ratings Services today in a
commentary.
Lenders
reluctant to fund gas-based power projects: Leading institutions including
Power Finance Corporation (PFC), ICICI and IDBI, among others are increasingly
reluctant to fund gas-fired power projects. They seem more willing, however, to
back coal-fired projects.
Tourism Ministry bags PATA Award:
The efforts made by the Ministry of Tourism to preserve and promote tourism at
the Ajanta and Ellora caves has led to it bagging the 2005 PATA Grand Award for
Heritage for its Ajanta Ellora Conservation and Tourism Development Project. The
organisation has recognised the effort put in by officials to gain the trust of
the community and the local authorities to effectively conserve, restore and
promote the UNESCO World Heritage Site as a high quality tourist destination.
Healthcare
sector grows at fast pace:
With growing strength of the pharmaceutical and healthcare sector, India is fast
emerging as a destination for patients from abroad. Though public healthcare
system has still to fulfil the expectations of the public, the organised private
healthcare sector is growing at a fast pace.
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