SpArK
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Indian exports expected to reach $ 500 billion by 2014
Indian Exports are expected to reach 500 billion US dollars by 2014. This was revealed by Commerce and Industry Minister Anand Sharma in New Delhi today while making announcements on the Foreign Trade Policy for 2009 to 2014.
Mr Sharma unveiled a slew of measures to address the concerns of Exporters amidst the ongoing slowdown in European and US markets.
A new scheme to provide special assistance to engineering, pharmaceuticals and chemical sectors was launched on the occasion. Mr. Sharma also introduced a Special Market Scheme to increase the global competitiveness of exports.
Under this scheme, special assistance will be provided for exports to markets in Latin America, Africa and CIS Countries.
Government also launched the 'Niryat bandhu' scheme meant to encourage new and young entrepreneurs in export business.
Chairman of the Federation of India Export Organisation R Deora hailed the new incentives as Diwali bonanza for the exporting community.
He said that the measures will help the export industry to deal with the global crisis.
Newsonair : Sports News, Cricket News, Delhi News, Common Wealth Games 2010, News 2010. Business News, Political News, State News, International News, Exclusive News & more...
Indian Exports are expected to reach 500 billion US dollars by 2014. This was revealed by Commerce and Industry Minister Anand Sharma in New Delhi today while making announcements on the Foreign Trade Policy for 2009 to 2014.
Mr Sharma unveiled a slew of measures to address the concerns of Exporters amidst the ongoing slowdown in European and US markets.
A new scheme to provide special assistance to engineering, pharmaceuticals and chemical sectors was launched on the occasion. Mr. Sharma also introduced a Special Market Scheme to increase the global competitiveness of exports.
Under this scheme, special assistance will be provided for exports to markets in Latin America, Africa and CIS Countries.
Government also launched the 'Niryat bandhu' scheme meant to encourage new and young entrepreneurs in export business.
Chairman of the Federation of India Export Organisation R Deora hailed the new incentives as Diwali bonanza for the exporting community.
He said that the measures will help the export industry to deal with the global crisis.
Newsonair : Sports News, Cricket News, Delhi News, Common Wealth Games 2010, News 2010. Business News, Political News, State News, International News, Exclusive News & more...
SpArK
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DarK-LorD
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Trade with India likely to cross $7 bn by 2015: Vietnamese President.
Updated on Thursday, October 13, 2011, 22:26
Mumbai: The bilateral trade between India and Vietnam is expected to nearly double at over USD 7 billion by 2015, Vietnamese President Truong Tan Sang said on Thursday.
"Vietnam today provides huge business opportunities and bilateral trade is expected to cross USD 7 billion by 2015 from the present USD 4 billion," the visiting President said here, while addressing Indo-Vietnam Business Forum meeting organised by the Confederation of Indian Industry.
The present bilateral trade is ten times what it was in 2000. Vietnam's exports to India crossed USD 1 billion in 2010-11, a jump of 92 per cent over the previous year, while India's exports to Vietnam also jumped to USD 2.6 billion during the same period.
He invited Indian businesses, and technical expertise in sectors like health-care, oil & gas, manufacturing, agro-industry, pharma, automotive, IT, shipping and ports, electrical consumer appliances, education, and road infrastructure, among others.
"Demand for material and machinery is very high with a huge export potential for India. Indian businesses need to learn more about the situation in Vietnam so that they can profit from it," the president said.
From 2010, Vietnam has implemented a 10-year modernisation policy which has created need for products and services worth hundreds of millions of dollars.
"India, with a long-standing expertise in almost every one of those fields, can take advantage of the same," he said.
The President stressed the need for information exchange between the two countries. He explained that Vietnam has expertise in sectors which India can also take advantage of, such as poverty alleviation.
Truong also said that his government's serious efforts at development has led to business-friendly policies like reduction of corporate tax, greater freedom to private enterprise, emphasis on exports, production of consumer goods and encouragement to foreign investments.
Calling on India Inc to avail of the preferential policies of his government for promoting investment, he said that though India is one of the top 10 business partners of Vietnam, bilateral business is much below potential.
"The need is thus for a strategic partnership and economic relations will receive the highest attention from us," Vietnamese Deputy Prime Minister Nguyen Xuan Phuc said. Nguyen envisaged bilateral cooperation in "high-tech training, infrastructure development including roads and urban transportation, electricity, waste treatment and development of a national telecom system.
Nguyen also noted that agreement between Jet Airways and Vietnam Airlines to start direct flights between the two markets will help build more business cooperation.
PTI
http://zeenews.**********/business/economy/trade-with-india-likely-to-cross-7-bn-by-2015-vietnamese-prez_32207.html
Updated on Thursday, October 13, 2011, 22:26
Mumbai: The bilateral trade between India and Vietnam is expected to nearly double at over USD 7 billion by 2015, Vietnamese President Truong Tan Sang said on Thursday.
"Vietnam today provides huge business opportunities and bilateral trade is expected to cross USD 7 billion by 2015 from the present USD 4 billion," the visiting President said here, while addressing Indo-Vietnam Business Forum meeting organised by the Confederation of Indian Industry.
The present bilateral trade is ten times what it was in 2000. Vietnam's exports to India crossed USD 1 billion in 2010-11, a jump of 92 per cent over the previous year, while India's exports to Vietnam also jumped to USD 2.6 billion during the same period.
He invited Indian businesses, and technical expertise in sectors like health-care, oil & gas, manufacturing, agro-industry, pharma, automotive, IT, shipping and ports, electrical consumer appliances, education, and road infrastructure, among others.
"Demand for material and machinery is very high with a huge export potential for India. Indian businesses need to learn more about the situation in Vietnam so that they can profit from it," the president said.
From 2010, Vietnam has implemented a 10-year modernisation policy which has created need for products and services worth hundreds of millions of dollars.
"India, with a long-standing expertise in almost every one of those fields, can take advantage of the same," he said.
The President stressed the need for information exchange between the two countries. He explained that Vietnam has expertise in sectors which India can also take advantage of, such as poverty alleviation.
Truong also said that his government's serious efforts at development has led to business-friendly policies like reduction of corporate tax, greater freedom to private enterprise, emphasis on exports, production of consumer goods and encouragement to foreign investments.
Calling on India Inc to avail of the preferential policies of his government for promoting investment, he said that though India is one of the top 10 business partners of Vietnam, bilateral business is much below potential.
"The need is thus for a strategic partnership and economic relations will receive the highest attention from us," Vietnamese Deputy Prime Minister Nguyen Xuan Phuc said. Nguyen envisaged bilateral cooperation in "high-tech training, infrastructure development including roads and urban transportation, electricity, waste treatment and development of a national telecom system.
Nguyen also noted that agreement between Jet Airways and Vietnam Airlines to start direct flights between the two markets will help build more business cooperation.
PTI
http://zeenews.**********/business/economy/trade-with-india-likely-to-cross-7-bn-by-2015-vietnamese-prez_32207.html
Business Line : Industry & Economy / Economy : India-Africa bilateral trade to double in next 5 years: FICCI
So Targeting $100 Billion with Africa and China by 2015.
So Targeting $100 Billion with Africa and China by 2015.
Vinod2070
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$500 billion by 2014!
The earlier target was $600 billion by 2020.
If we can achieve $500 billion by 2014, we can even target $1 trillion by 2020.
That will be something. Can't believe these numbers.
There was a time not too long ago when $18 billion of exports was an occasion to celebrate.
The earlier target was $600 billion by 2020.
If we can achieve $500 billion by 2014, we can even target $1 trillion by 2020.
That will be something. Can't believe these numbers.
There was a time not too long ago when $18 billion of exports was an occasion to celebrate.
Tata Motors to compete with mainstream German and Japanese car makers in South Africa
Mr. Prakash Telang, Managing Director India operations for Tata Motors has said that the company no longer wanted to be comparable to low priced options in South Africa, and was ready to take on top German and Japanese auto giants. In India, Tata Motors which came out with the low priced Nano and has quite literally taken eons in trying to attain sales targets.
Tata Motors has now talked about getting more ambitious, and rival other contenders in varied car segments. Tata has bought over the UK based Jaguar and Land Rover and is taking advantage of their advanced technologies and would like to live upto its expectations.
The Indian automaker is concentrating on supplying quality products which would be higher up the price ladder and are sure that they are capable of competing with other major auto players in SA. Tata Motors is among various others who have are showcasing their products at the Johannesburg Motor Show. The company feels that Africa is also a major client and demand is on the rise. Tata did suffer from sales decline in 2008-009 in South Africa despite dealing in low end cars and trucks. The Tata Motors Manza sedan has been showcased at the ingoing 2011 Johannesburg Motor Show.
Tata Motors to compete with mainstream German and Japanese car makers in South Africa | Rush Lane
Mr. Prakash Telang, Managing Director India operations for Tata Motors has said that the company no longer wanted to be comparable to low priced options in South Africa, and was ready to take on top German and Japanese auto giants. In India, Tata Motors which came out with the low priced Nano and has quite literally taken eons in trying to attain sales targets.
Tata Motors has now talked about getting more ambitious, and rival other contenders in varied car segments. Tata has bought over the UK based Jaguar and Land Rover and is taking advantage of their advanced technologies and would like to live upto its expectations.
The Indian automaker is concentrating on supplying quality products which would be higher up the price ladder and are sure that they are capable of competing with other major auto players in SA. Tata Motors is among various others who have are showcasing their products at the Johannesburg Motor Show. The company feels that Africa is also a major client and demand is on the rise. Tata did suffer from sales decline in 2008-009 in South Africa despite dealing in low end cars and trucks. The Tata Motors Manza sedan has been showcased at the ingoing 2011 Johannesburg Motor Show.
Tata Motors to compete with mainstream German and Japanese car makers in South Africa | Rush Lane
Indian inflation eased slightly in September, official figures have shown, in line with market expectations, according to the BBC:
The wholesale price index rose at an annual rate of 9.72% in September, compared with 9.78% in August.
Despite the slight slowdown, analysts still expect India's central bank to increase interest rates one more time this year to try to calm price rises.
The Reserve Bank of India has raised its core interest rate, called the repo rate, 12 times since March 2010.
The most recent increase was announced on 16 September, when the repo rate was raised by 25 percentage points to 8.25%.
The central bank is next meeting on 25 October.
The wholesale price index is the most closely watched guide to inflation in India because it covers more products than the consumer price index.
August's inflation rate was a 13-month high.
India's continuing high inflation has sparked a number of protests across the country.
BBC News - Indian inflation eases slightly but remains high
The wholesale price index rose at an annual rate of 9.72% in September, compared with 9.78% in August.
Despite the slight slowdown, analysts still expect India's central bank to increase interest rates one more time this year to try to calm price rises.
The Reserve Bank of India has raised its core interest rate, called the repo rate, 12 times since March 2010.
The most recent increase was announced on 16 September, when the repo rate was raised by 25 percentage points to 8.25%.
The central bank is next meeting on 25 October.
The wholesale price index is the most closely watched guide to inflation in India because it covers more products than the consumer price index.
August's inflation rate was a 13-month high.
India's continuing high inflation has sparked a number of protests across the country.
BBC News - Indian inflation eases slightly but remains high
lemurian
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Thank you for not providing a link to your blog. Yes, anti-inflationary measures have not been entirely successful, and further hikes in interest rates are expected. Nevertheless, your dedication in putting down India is commendable and worthy of Nishan-e-Pakistan.
RajputWarrior
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India and Burma expand trade ties and sign gas deals
India and Burma have agreed a series of measures to boost trade and co-operation during Burmese President Thein Sein's state visit to Delhi.
India has promised Burma $500m (£316m) credit for infrastructure projects and they will expand co-operation in oil and gas exploration and border trade.
The visit came as Burma released about 200 political prisoners, the latest in a series of steps towards reform.
But India has been sharply rebuked in the past for hosting Burmese leaders.
Human rights groups and activists condemned last year's five-day visit to Delhi by former military ruler General Than Shwe, aimed at deepening trade links.
Correspondents say that with a rapidly growing economy India is desperate to access any major source of energy and will also be keen to offset China's influence in the region.
Burma has huge natural gas reserves in its western province of Arakan and the adjoining seaboard, estimated at more than 30 trillion cubic feet or more.
Indian Prime Minister Manmohan Singh and his Burmese counterpart issued a joint statement which emphasised the need for energy security.
The deal between India and Burma agreed on Friday also includes speeding up the construction of natural gas pipelines. The infrastructure projects for which India has extended credit include roads, inland waterways and ports.
In a further sign that Burma's new leadership may be considering wider public opinion, the president recently suspended construction of the controversial Chinese-backed Myitsone hydroelectric dam.
But Indian officials played down any economic rivalry with its Chinese neighbour.
"We have an important relationship with Myanmar [Burma]. And we have an important relationship with China. There is no competition," external affairs ministry spokesman Vishnu Prakash said.
There are already substantial trade links between Burma and India. Indian energy companies are already investing in Burma's energy sector. The $500m of credit comes on top of $300m (£190m) of credit extended last year.
BBC News - India and Burma expand trade ties and sign gas deals
RajputWarrior
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India to host World Steel Conference next year
In an indication of India's emerging importance on the world steel map and massive growth it is poised for in this sector, India has been awarded the right to hold the World Steel Conference in October next year.
The governing body of the World Steel Association, representing 170 producers and accounting for 85 per cent of world steel production, has decided to give the rights to hold the World Steel Conference in India from October 8 to 12 next year, according to an official announcement made here on Friday.
State-run Steel Authority of India Ltd. (SAIL) Chairman C. S. Verma made this offer in Paris on Friday on behalf of India's committee consisting of six leading steel producers of India. He extended a warm invitation to all CEOs of leading steel producing countries and companies to attend the conference to be held in New Delhi.
Mr. Verma said the views expressed by the global steel barons would go a long way in making the steel industry more sustainable, in the backdrop of the global economic uncertainties and volatilities in the recent past. “The conference in New Delhi will give a glimpse of the rich heritage and culture of India,'' he added.
He informed that the Indian steel industry had grown multi-fold from a production of about two million tonnes of crude steel in 1950-51 to nearly 70 million tonnes in 2010-11. Indian economy has recorded an impressive GDP growth in the last few years.
A report released by the World Steel Association, based on the just concluded conference, has forecast that apparent steel use will increase by 6.5 per cent to 1,398 mt in 2011, following growth of 15.1 per cent in 2010. In 2012, it is forecast that world steel demand will grow further by 5.4 pr cent. The WSA also projected that India's steel consumption is likely to grow by 4.3 per cent to reach 67.7 million tonnes due to economic growth. In 2012, the growth rate is forecast to accelerate to 7.9 per cent.
The member steel companies representing host country committee from India include JSW Steel, SAIL, Rashtriya Ispat Nigam, Tata Steel, Essar Steel and JSW Ispat Steel.
The Hindu : Business / Economy : India to host World Steel Conference next year
In an indication of India's emerging importance on the world steel map and massive growth it is poised for in this sector, India has been awarded the right to hold the World Steel Conference in October next year.
The governing body of the World Steel Association, representing 170 producers and accounting for 85 per cent of world steel production, has decided to give the rights to hold the World Steel Conference in India from October 8 to 12 next year, according to an official announcement made here on Friday.
State-run Steel Authority of India Ltd. (SAIL) Chairman C. S. Verma made this offer in Paris on Friday on behalf of India's committee consisting of six leading steel producers of India. He extended a warm invitation to all CEOs of leading steel producing countries and companies to attend the conference to be held in New Delhi.
Mr. Verma said the views expressed by the global steel barons would go a long way in making the steel industry more sustainable, in the backdrop of the global economic uncertainties and volatilities in the recent past. “The conference in New Delhi will give a glimpse of the rich heritage and culture of India,'' he added.
He informed that the Indian steel industry had grown multi-fold from a production of about two million tonnes of crude steel in 1950-51 to nearly 70 million tonnes in 2010-11. Indian economy has recorded an impressive GDP growth in the last few years.
A report released by the World Steel Association, based on the just concluded conference, has forecast that apparent steel use will increase by 6.5 per cent to 1,398 mt in 2011, following growth of 15.1 per cent in 2010. In 2012, it is forecast that world steel demand will grow further by 5.4 pr cent. The WSA also projected that India's steel consumption is likely to grow by 4.3 per cent to reach 67.7 million tonnes due to economic growth. In 2012, the growth rate is forecast to accelerate to 7.9 per cent.
The member steel companies representing host country committee from India include JSW Steel, SAIL, Rashtriya Ispat Nigam, Tata Steel, Essar Steel and JSW Ispat Steel.
The Hindu : Business / Economy : India to host World Steel Conference next year
Night_Raven
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India joins ivy club of wine producers
NEW DELHI:India is to formally join the wine producers club with the Union Cabinet expected to ratify the agreement for becoming a member of the Paris-based International Organization of Vine and Wine (OIV).
The move by agriculture and food processing ministries will benefit India, which after becoming a member of OIV will have access to all scientific information available with the international group, widely recognized for its competence in work related to vines, wine, wine-based beverages, table grapes and raisins.
While India will be the 45wine producing nation to become a member of the organization, India is the ninth biggest producer of grapes worldwide and is seen as one of the growing wine markets.
After formally joining the club, India can participate actively in its activities and regulate a sector which is rapidly developing. This will also help India secure its consumers and facilitate international trade, a food processing ministry official said, adding that the move will also help in developing the wine industry in the country.
The government along with grape growers and winemakers decided to join the club to make their voice heard worldwide in the wine sector. OIV is the main intergovernmental scientific and technical organization with internationally recognised competence in the domains of vine, wine and other vine-derived products.
Around 71,400 hectares of the country's vineyards are mainly oriented towards production of table grape, which in 2008 reached some 15,940 quintals. The vineyards are mainly located in three regions of Maharashtra, which is the home state of agriculture minister Sharad Pawar, besides Himachal Pradesh and Karnataka.
India joins ivy club of wine producers - The Economic Times
NEW DELHI:India is to formally join the wine producers club with the Union Cabinet expected to ratify the agreement for becoming a member of the Paris-based International Organization of Vine and Wine (OIV).
The move by agriculture and food processing ministries will benefit India, which after becoming a member of OIV will have access to all scientific information available with the international group, widely recognized for its competence in work related to vines, wine, wine-based beverages, table grapes and raisins.
While India will be the 45wine producing nation to become a member of the organization, India is the ninth biggest producer of grapes worldwide and is seen as one of the growing wine markets.
After formally joining the club, India can participate actively in its activities and regulate a sector which is rapidly developing. This will also help India secure its consumers and facilitate international trade, a food processing ministry official said, adding that the move will also help in developing the wine industry in the country.
The government along with grape growers and winemakers decided to join the club to make their voice heard worldwide in the wine sector. OIV is the main intergovernmental scientific and technical organization with internationally recognised competence in the domains of vine, wine and other vine-derived products.
Around 71,400 hectares of the country's vineyards are mainly oriented towards production of table grape, which in 2008 reached some 15,940 quintals. The vineyards are mainly located in three regions of Maharashtra, which is the home state of agriculture minister Sharad Pawar, besides Himachal Pradesh and Karnataka.
India joins ivy club of wine producers - The Economic Times
russellpeters
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Here's a BBC report on IMF's downbeat forecast of Asian growth:
The International Monetary Fund (IMF) has cut its growth forecasts for Asia over worries about eurozone debt and new fears for the US economy.
The IMF said risks for Asia were "decidedly tilted to the downside" because of these concerns over its two major export zones.
It said gross domestic product (GDP) growth across Asia would average 6.3% in 2011, and 6.7% in 2012.
In April, it had predicted close to 7% growth in both years.
The body warned about a risk of capital outflows from the region, and the possibility that oversees investors may reverse the large positions they have built in Asian markets since 2009.
In addition, inflation is still high in a number of Asian countries, the IMF said.
But it believes consumer prices could ease after peaking this year, as food and energy prices "gradually moderate".
The IMF also said that Asian policymakers were faced with "a delicate balancing act".
"They need to guard against risks to growth but also limit the adverse impact of prolonged easy financial conditions on inflation," it noted.
BBC News - IMF cuts growth forecast for Asia
The International Monetary Fund (IMF) has cut its growth forecasts for Asia over worries about eurozone debt and new fears for the US economy.
The IMF said risks for Asia were "decidedly tilted to the downside" because of these concerns over its two major export zones.
It said gross domestic product (GDP) growth across Asia would average 6.3% in 2011, and 6.7% in 2012.
In April, it had predicted close to 7% growth in both years.
The body warned about a risk of capital outflows from the region, and the possibility that oversees investors may reverse the large positions they have built in Asian markets since 2009.
In addition, inflation is still high in a number of Asian countries, the IMF said.
But it believes consumer prices could ease after peaking this year, as food and energy prices "gradually moderate".
The IMF also said that Asian policymakers were faced with "a delicate balancing act".
"They need to guard against risks to growth but also limit the adverse impact of prolonged easy financial conditions on inflation," it noted.
BBC News - IMF cuts growth forecast for Asia
SpArK
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India Economy to Grow at 7% This Fiscal Year, HSBC Private Says - Bloomberg
Why are the trolls bringing asian economy to this thread..
ISnt there any moderators??
Why are the trolls bringing asian economy to this thread..
ISnt there any moderators??
