Indian Economy-News & Updates

[Koovie]

Can someone tell me the status of the FDI reforms in retail, aviation and insurance ???

 

[Agent_47]

Yeh Mumbai hai meri jaan

 

[Tangent]

Can someone tell me the status of the FDI reforms in retail, aviation and insurance ???

..Stuck where they were.... No progress...

waiting for NDA to give momentum to economy.

 

[Koovie]

..Stuck where they were.... No progress...

waiting for NDA to give momentum to economy.

without a sufficient majority NDA will find itself in the same predicament as UPA.

UPA will oppose NDA as good as they can and the other way around.

 

[Sanjay_]

India's GDP growth falls to 4.5% from 10% few years ago.

 

[IndoCarib]

India manufacturing activity picks up pace in Feb - Livemint

India manufacturing activity picks up pace in Feb

HSBC Markit manufacturing purchasing managers’ index, rose to 54.2 in Feb, after falling to 53.2 in Jan

 

[cirr]

Re down 53 paise at nearly 2-mth low

Re down 53 paise at nearly 2-mth low - Rediff.com Business

Maruti sales fall 8%

Maruti, Toyota sales fall in Feb; Hyundai's up 5% - Rediff.com Business

India's GDP growth falls to 4.5%

India's GDP growth falls to 4.5% - Rediff.com Business

 

[cirr]

India headed for economic doom, prominent US thinktank says

India headed for economic doom, prominent US thinktank says - The Times of India

Do you believe or agree with the Americans？

 

[IndoCarib]

India headed for economic doom, prominent US thinktank says

India headed for economic doom, prominent US thinktank says - The Times of India

Do you believe or agree with the Americans？

We believe the Americans

WASHINGTON: US intelligence has predicted that in 2030, India could be the rising economic powerhouse of the world as China is seen today and that it will continue to consolidate its power advantage over Pakistan.

"In 2030 India could be the rising economic powerhouse that China is seen to be today. China's current economic growth rate -- 8 to 10 per cent -- will probably be a distant memory by 2030," said the fifth installment of the 'Global Trends 2030: Alternative Worlds', of National Intelligence Council (NIC), released today.

US sees India as rising economic powerhouse by 2030 - Economic Times

 

[Abhishek_]

Tata Steel, through its subsidiary Tata Steel Minerals Canada (TMSC), has acquired majority stake in Canadian company Labrador Iron Mines (LIM) for Canadian $30 million (Rs.163 crore).

This will enable Tata Steel to seamlessly transport raw material from its existing mines in Canada through rail and a port facility to the U.K. where it has major operations. This is possibly the first acquisition by the Tata Group after Cyrus Mistry took over as Chairman.

Howse deposit

As per the agreement signed between Tata Steel and Labrador Iron Mines Holdings Ltd., LIM will transfer 51 per cent interest in the Howse deposit to TMSC. The Howse deposit is estimated to have 28 million tonnes of iron ore resources.

In turn, Tata will transfer its ‘Timmins 4’ deposit having a resource of 1.7 million tonnes to Labrador for Canadian $3 million (Rs.16.3 crore). This payment is recoverable from sales, Tata Steel said in a filing with the stock exchanges.

Under the agreement, Tata Steel has the option to increase its ownership of Howse deposit to 70 per cent for Canadian $25 million (Rs.136 crore).

Additionally, the strategic relationship will include multi-part co-operation agreements in logistics and various ancillary mutual support and potential offtake arrangements, including development of a rail line that will pass through LIM’s rail yard facilities and connect TSMC’s processing plant with the main rail line and further exploration of Howse deposit.

TSMC’s mining asset is adjacent to that of LIM’s, and the latter was not allowing the former to use its space to transport raw material. Now with this acquisition, the rail head problem is solved.

Raw material strategy

“Tata Steel’s raw material strategy focuses on adding value accretive assets to its portfolio to increase its raw material security. We have large investments in the Labrador Trough area, and this transaction with LIM further reinforces our presence in the region. The proposed arrangement with LIM is expected to enhance the raw material security for the group and streamline the logistics of the DSO Project, which is expected to come on stream in 2013,” H. M. Nerurkar, Managing Director of Tata Steel said in a statement.

Tata Steel holds 80 per cent stake in DSO iron ore project, which has 125 million tonnes of resources spread over 25 deposits. The mine commenced production in September last year, and the processing plant is under construction. This Canadian iron ore project came into Tata’s fold, after they acquired stake in New Millennium Iron Corporation, in 2008. As per the framework arrangement, both companies will co-operate with each other in the Labrador Troughin the Labrador Quebec Region in Canada.

Tata Steel acquires 51 % in Canadian mine - The Hindu

cross posted.

 

[cloud_9]

 

[Koovie]

Interesting, never knew that we export so much beef.

 

[my2cents]

What about call center freaks? You can't even call your TV network without one of these Indian call center freaks answering with the funniest accent ever

You live in Pakistan and have to call Indian call center ??? Don't you guys have your own call centers to cater to your needs??

 

[Capt.Popeye]

@Soumitra yap cooking oil mostly or say in large amount

Not cooking oil! Its refined petroleum products such as gasoline etc.
Reliance Petroleum exports most of its production from the Jamnagar Refinery. Much less is sold in India.

 

[mehboobkz]

@Soumitra yap cooking oil mostly or say in large amount

Cooking Oil?

India imports it big time.

India exports oil lubricants, additives, gasoline and other relative stuff churned out from its refineries.
BTW, Ambani's Jamnager refinery is the biggest in the world, even US does not have one.