Business & Economy

Computers: Wen's vision
for an Asian century
What is India News Service, Monday, 11 April 2005, 1400 hrs IST

Ahead of his talks with Prime Minister Manmohan Singh, Chinese Premier Wen Jiabao Monday suggested cooperation with India in high-technology, including space, and said the two countries could join hands to usher in an \93Asian Century\94 in information technology.

Wen kicked off his four-day trip by interacting with honchos of India\92s biggest software exporter Tata Consultancy Services and visiting ISRO\92s satellite development centre here.

\93If India and China cooperate in the IT industry, we will be able to lead the world IT industry and when the particular day comes, it will signify the coming of the Asian century of the IT industry,\94 the Chinese Prime Minister in his interaction with TCS executives.

Noting that India\92s advantage in software and China is ahead in hardware, Wen said cooperation was \93just like two Pagodas \97 one hardware and one software and combined, we can take the leadership position in the world.\94

\93If we believe that the development of the IT industry symbolises the future of science and technology and the economy, then the cooperation between our countries to develop the IT industry will symbolise the prosperity of our two nations in future,\94 Wen said.

\93I strongly believe that if we join hands together, we will certainly be able to set a new trail in the IT business world,\94 he said.

Visting the ISRO Satellite Centre, the Chinese Premier called for enhanced cooperation and tapping new avenues in high-technology areas between India and China.

Wen expressed the view that there are a lot of areas for (enhanced) cooperation in high-technology space, as well as exploring new opportunities, said ISRO Chairman G Madhavan Nair, who made a presentation on India\92s space programme to Wen and the accompanying Chinese delegation.

China seeks collaboration in chip design: India may be lagging behind in semiconductor manufacturing, but the software expertise that helps design new generation chips of the world has caught the attention of rival China.

CII calls for diversification of trade with China: CII has called for diversification of export basket to attain the desired $20 billion trade between India and China by 2010, in the backdrop of Chinese Premier Wen Jiabao's high profile visit to India .

Tatas' to invest Rs 10,000-cr in telecom business: Targeting to capture "leadership position" in all spheres of telecom services by the next fiscal, corporate giant Tatas have decided to pump in an additional Rs 10,000 crore in the next 12-16 months with a central role for group chairman Ratan Tata to coordinate and strategise growth of various companies in the sector.

CBI examining re-routed Int'l calls by Reliance Infocomm: After the TDSAT ruling of Reliance Infocomm's re-routing of calls as `threat to national security', CBI, too, has been asked by Department of Telecom to examine the international calls of Reliance Infocomm besides other telecom operators to find out if it has any national security implications.

PAN may be mandatory for large single-day cash drawals: The Banking Cash Transaction Tax (BCCT) endgame is getting intriguing. 

Azim Premji richest Indian: Azim Premji, chairman of the Bangalore-based software giant, Wipro, is the richest Indian with wealth worth Rs. 31,198 crores. Mukesh and Anil Ambani, chairman and vice-chairman respectively of the Reliance Group, are the second and third richest.

Maruti Omni comes with new look, more features: The Maruti Omni, India's most popular multi-utility vehicle, has been refreshed and upgraded.

Ball set rolling for retail FDI: The government is also considering raising diamond mining capital to to 100%. 

Textile exports hit in a free world: Exports fell by 7.6% to $1.07 billion in January 2005. 

How much does export promotion cost?: The differences between finance and commerce ministries over tax breaks for export promotion have thrown up a larger issue for debate \97 how much does it cost the country to run the various schemes for exporters?

NTPC refuses to pay revised prices: The state-owned National Thermal Power Corporation (NTPC), the largest consumer of gas along the GAIL (India) Ltd's Hazira-Vijapur-Jagdishpur (HVJ) pipeline, has refused to shell out higher gas prices. 

India Inc seeks out 15,000 independent directors: Present directors are set to lose their grade after Clause 49 of listing norms comes into effect. 

Shangri La set to debut in Capital by August: Shangri-La, the Asian hotel major is to make a 1000 room debut in Delhi by August this year with the Eros group. The hotel which already has a property in Bangalore has added three more to its portfolio in India.

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