Indian Foreign Affairs News & Discussions (non-US & Pakistan related

[SpArK]

India a nation of immense power and presence: UAE daily​

ABU DHABI: The United Arab Emirates (UAE), home to a large number of Indians, recognises that "India is now a spearhead of the future markets and a nation of immense power and presence", a leading UAE daily said in an editorial Tuesday.

"India will naturally like to see the UAE as a friend and ally. With the massive Indian presence in situ the UAE also sees that as a bridge to a wider market, a potentially exponential market in which to invest especially in the areas of communication, energy, power and education as well as trade and commerce," the Khaleej Times said.

The editorial came a day after Indian President Pratibha Patil met her UAE counterpart, Sheikh Khalifa bin Zayed Al Nahyan, in Abu Dhabi, and held talks on a wide range of topics in politics, economy, culture, science and current regional and international issues of mutual interest.

Patil is on a nine-day, two-nation visit to the UAE and Syria, aimed at enhancing economic and energy ties with the region. Apart from Abu Dhabi in the UAE, she would travel to Dubai and Sharjah.

"The message from both leaders comes out strongly: Partners in business but above all, friends first and always," the editorial said.

"The Indian president was fulsome in her praise for the enormous strides taken by the UAE in recent years and recognised its pragmatic leadership and its role in the region as well as on the global stage."

According to the paper, Khalifa praised the role played by the Indian comunity in the UAE's "nation building".

Patil "echoed much the same sentiment in lauding the UAE's role in bolstering international peace and security".

Her comments "are certain to foster not just goodwill for now but a long-term strategic partnership", the daily said.

"With both nations having similar views on security, peace and the common enemies of mankind like disease, poverty and injustice, the new era in the relationship will certainly ensure that these two countries not only positively exploit a closeness that is rooted deep in the centuries of the past but move forward to the same beat in tackling the problems of tomorrow."

Patil heads to Syria Nov 26. This will be the first presidential visit to that country from India. She will hold talks with President Bashar Al Assad in Damscus.


India a nation of immense power and presence: UAE daily - The Economic Times

 

[Water Car Engineer]

S African roadbuilder explores Indian opportunities

Johannesburg, Nov 25 (PTI) South African road-building company Raubex has signed a memorandum of understanding with Pune-based company UB Engineering to explore the rapidly growing Indian infrastructure market.

Raubex''s decision was prompted by the news that India is expected to spend more than USD 46 billion on road contracts in the next seven years.

But Francois Diederechsen, finance and commercial director of Raubex, emphasised that the MoU was purely for the exploratory phase which would last for about six months.

During this time, the company would assess how competitive the market was in India and whether the margins and risk were acceptable to Raubex.

Diederechsen said if the opportunities were considered viable, Raubex would start up a joint venture with UB Engineering, which did not build roads but had a huge engineering subsidiary.

UB was keen to bring Raubex''s road-building experience to the Indian market, according to Diederechsen.

Currently operating in four African countries, Raubex is looking to expansion because of huge pricing pressure in South Africa.

S African roadbuilder explores Indian opportunities -  International News ? News ? MSN India

 

[kashith]

India changed its vote at U.N. for some other reason: Iran


Describing the English translation of Iranian Supreme Leader Ayatollah Ali Khamenei as “weak,” Iranian officials say India should not have changed its vote for this reason alone at a recent meeting of the United Nations committee on human rights.

India took umbrage at the mention of Kashmir as a “nation” by the Iranian leader twice in six months and once by a Foreign Ministry official, and served a demarche each time on Iran.

Indian officials later said the Iran's mention of Kashmir as a nation was crucial in India changing its decision at the U.N. panel meeting. In the past, India had voted “no” when a West-sponsored resolution condemning Iran for rights abuses came up annually at the U.N. But this time, New Delhi abstained from voting.

“It is unfortunate but not unusual because the main text in Farsi was totally different from the English translation,” Iranian officials said, admitting that the rendition from Farsi on the web site of the Supreme Leader was “weak.”

“There were many differences when the English version gets compared with the original in Farsi. We admit accurate translation is very important. And it was not. On this basis, we asked India not to change its vote but we couldn't convince the [Indian] officials. That is why we believe that the mention of Kashmir as a nation in the translation might not be the main reason for India changing its stance,” the officials said.

The officials noted that India's changed stance was not highlighted in the Iranian media.

“In Iran, it was not published in all newspapers though it did appear on some web sites. Otherwise, it would have created a problem in managing public opinion.”

Due deliberation

However, that doesn't explain why no effort was made to correct the translation the first time it appeared in June, again a few months later, and finally this month. On both occasions, India served demarches on Iran. “There have been three such instances between June and November. There was this strain of opinion coming forth from Iran. So after due deliberation, the government decided to vote the way it did,” Indian officials said.

Mr. Khamenei had said: “The major duties of the elite of the Islamic Ummah is to provide help to the Palestinian nation and the besieged people of Gaza, to sympathise [with] and provide assistance to the nations of Afghanistan, Pakistan, Iraq and Kashmir, to engage in struggle and resistance against the aggressions of the United States and the Zionist regime.”

Ties to be unaffected

Iranian officials explained that the word used in the Farsi original was ‘millat,' which was totally different from nation in the political sense. Had the Iranian intention been to question India's sovereignty over Kashmir, it would have used ‘kishwar' or ‘hakimiyat.'

However, despite this difference of perception between the two countries, officials from both sides maintained that bilateral ties would remain unaffected. The Indian officials said they attached “high priority” to ties with Iran.

High-level exchanges

They pointed to the regular high-level exchanges over the past one year and the continuing talks on several projects of strategic value. Iranian officials also make the same point, although they complain that there has been no action on several Memoranda of Understanding signed between the two countries. “India has adopted a wait-and-watch policy,” they feel.

 

[pbabu266]

French President Nicolas Sarkozy arrives in India tomorrow seeking a slice of its multi-billion dollar military spending and pushing Areva SA’s bid to sell at least two nuclear reactors.

Sarkozy will escort 50 chief executives, including those of aircraft-makers Dassault Aviation and EADS, on a presidential sales trip sandwiched between those of U.S. leader Barack Obama and Russia’s Dmitri Medvedev. Each has companies racing for contracts, including India’s planned purchase of $11 billion in jet fighters.

“France is not a top player in India but it has had a steady and supporting role,” Gilles Boquerat, an analyst at the French Institute for International Relations in Paris, said in an interview. “India, for historical and obvious business reasons, has made France one of the top two countries on its list for future civil nuclear-energy deals.”

To boost French economic and employment recovery amid Europe’s debt crisis, Sarkozy will push for sales of submarines as well as combat jets, plus transport and renewable-energy deals. Chief executives with him will include Alstom SA’s Patrick Kron and MBDA’s Antoine Bouvier, as well as Dassault’s Charles Edelstenne and EADS’s Louis Gallois.

As current leader of the Group of 20 nations, Sarkozy also will seek support from Indian Prime Minister Manmohan Singh for his plans to overhaul the global monetary system and regulate commodities markets.

French-Indian Trade

Sarkozy will land in Bangalore to visit the Indian Space Research Organisation. The next day he and his wife, Carla Bruni-Sarkozy, visit the Taj Mahal in Agra, and on Dec. 6 Sarkozy will meet Singh in New Delhi. In Mumbai on Dec. 7, the French president will attend a business conference.

France was India’s fifth-biggest trading partner in 2009, according to India’s government spokesman, Vishnu Prakash. French-Indian trade in the first nine months of this year was worth 5.3 billion euros ($7 billion), down from 7.1 billion euros in 2008 because of the crisis, according to the French government.

Sarkozy is struggling to keep France’s position as fifth largest arms seller to India, behind Russia, Israel, the U.K. and Germany, according to data collected by the Stockholm International Peace Research Institute.

India has increased defense spending partly in response to China’s military build-up. A report by the New Delhi office of accounting firm KPMG and the Confederation of Indian Industry in January showed the Defense Ministry budget is $32 billion for 2010. India plans to spend $112 billion over the next six years to renew or upgrade equipment.

Selling Weapons

French arms purchases “are something that India is very open to because there is a strong desire that we should not put all of our eggs into one basket,” said Nivedita Das Kundu, a research fellow on Indian foreign relations at the government- backed Indian Council of World Affairs in New Delhi.

Sarkozy will seek to advance talks on an Indian Air Force tender from 2007 to buy 126 warplanes worth $11 billion, the world’s biggest fighter-jet purchase in 15 years. Paris-based Dassault Aviation SA, with its Rafale, is competing with Chicago-based Boeing Co., Lockheed Martin Corp., Stockholm-based Saab AB, European Aeronautic, Defense & Space Co., which has headquarters in Paris and Munich, and Moscow-based OAO United Aircraft Corp.

“The Rafale has minimum chances because India is looking for jets that have already been exported,” Siemon Wezeman, a senior fellow at SIPRI, said in an interview.

Aircraft Upgrades

India’s top diplomat for western European affairs, Joint Secretary T.P. Seetharam, told reporters in New Delhi on Dec. 1 that while no major defense deals are likely to be signed during Sarkozy’s stay, the visit is likely to advance plans for French companies to upgrade 51 Mirage-2000 jet fighters built by Dassault for the Indian Air Force 30 years ago.

Thales SA will push to clinch the upgrade deal that may include new avionics and radar and be worth up to $2 billion, La Tribune newspaper reported on Sept. 28.

France and India may sign a preliminary contract that would bring Areva closer to an agreement to build two 1,650 megawatt nuclear reactors at Jaitapur and supply them with uranium, Press Trust of India agency reported on Nov. 24, citing Nuclear Power Corp. of India Ltd. representatives.

Areva, the world’s biggest nuclear-reactor builder, signed a preliminary sales agreement in February 2009 with Nuclear Power Corp. The project passed a key hurdle on Nov. 28 when India’s Environment Ministry gave its approval.

Areva’s chief executive officer, Anne Lauvergeon, told a French Senate commission on Nov. 24 that negotiations were in the final stage and to expect “good news.”

The British government in July said it would permit the export of nuclear technology to India for the first time.

 

[RPK]

Toyota Tsusho to build rare earth plant in India


TOKYO, Dec. 8, 2010 (Kyodo News International) -- Japanese trading house Toyota Tsusho (OOTC:TYHOY) Corp. said Wednesday it will construct a rare earth processing plant in India to produce and export to Japan about 3,000 to 4,000 tons annually from 2012 in an effort to secure suppliers other than China.

The Nagoya-based group company of Toyota Motor Corp. (NYSE:TM) said it will start building the plant in the Indian state of Orissa in the beginning of 2011 and plans to launch production by the end of that year, in collaboration with Indian Rare Earths Ltd., an affiliate of the state-controlled Nuclear Power Corp. of India and Japan's Shin-Etsu Chemical Co. (OOTC:SHECY)

Toyota Tsusho is developing rare earths also in Vietnam, and with the planned Indian plant, will come in 2013 to supply around 10,000 tons of rare earths a year, or roughly one-third of Japan's total demand, according to a company official.

The Orissa plant will use rare earth chloride mixtures as raw materials in processing oxides of three types of rare earths, including neodymium used in motors for hybrid cars.

The mixtures are by-products of fuel extracting process by the Indian nuclear power firm.

Shin-Etsu Chemical is expected to provide technical support and to engage in product trading with the rare earths plant.

 

[SpArK]

Trade, UNSC on agenda at Manmohan-Merkel meet​

Trade, UNSC reforms and anti-terrorism strategies will be high on the agenda when Prime Minister Manmohan Singh and German Chancellor Angela Merkel hold their summit meeting against the backdrop of the two countries getting elected as non-permanent members in the United Nations Security Council.

Mr. Singh flew in here from Brussels today after attending the India-European Union summit for a working visit to Germany at the invitation of Ms. Merkel.

Mr. Singh’s talks with Ms. Merkel later in the day are expected to further enhance bilateral strategic partnership at a time when the ties between the two countries are marked by rapidly growing economic and trade ties.

Germany is India’s largest trading partner in the 27-nation European Union with bilateral trade growing in the recent years to reach 13.4 billion euros in 2008.

Bilateral trade decreased marginally to 13.09 billion euro but has revived and is growing by over 15 per cent and has reached 9.80 billion euro during January-August 2010.

Ahead of the talks, Prime Minister Singh said India’s engagement with Germany is strong and multi-faceted.

Mr. Singh said he was looking forward to reviewing with Chancellor Merkel the developments in bilateral cooperation in the areas of high technology, trade, investment, energy and education.

India and Germany will serve together on the UN Security Council as non-permanent members for a two-year period from January 1, 2011.

Mr. Singh and Ms. Merkel will also review the major regional and global issues including the situation in Afghanistan and climate change as well as the state of the global economy and the role of the G-20 in the recovery process.

Germany is also expected to take the line adopted by the EU at its summit with India yesterday in Brussels on the need for Pakistan to act expeditiously to bring to justice the perpetrators of the Mumbai terror attack.

The EU while denouncing terrorism wanted terror camps to be closed wherever they exist.

Earlier, Germany had said Pakistan is “not doing enough” to combat terrorism, noting that the situation in that country is an issue of “central concern” to it.

German Ambassador to India Thomas Matussek had said the internal situation in Pakistan is “unstable.”

Mr. Matussek had said it would in the interest of the international community if the Pakistan security apparatus “chase out” al-Qaeda and other terror elements from the country.

“If Pakistan goes down...it will affect countries like India,” he had said, adding efforts should be made to strengthen the democratic legitimacy of civilian rule.


The Hindu : News / National : Trade, UNSC on agenda at Manmohan-Merkel meet

 

[SpArK]

Manmohan Singh wants Germany to ease export control laws, €20 billion trade target set


Prime Minister Manmohan Singh wants Germany to relax its stringent export control laws to help open 'new horizons' for high technology trade with India, as the two countries vowed to increase the bilateral trade volume by nearly 40% to €20 billion by 2012.

"There is vast untapped potential for high technology trade between India and Germany and I conveyed to Chancellor Merkel that relaxation of German export control laws will open new horizons for such trade. This will be to our mutual benefit," Singh told reporters after talks with German Chancellor Angela Merkel last night.

On Germany's part, Merkel said there was no "trust deficit" between the two countries on the issue of high technology transfer.

Merkel's response came when a reporter asked why Germany puts restrictions on the transfer of high technology to India and whether there was a trust deficit in easing them.

"Our partnership with India is of a strategic nature. Our goals are ambitious and there is no trust deficit, on the contrary we are cooperating very well in this area," said Merkel, adding "We are taking our strategic cooperation seriously."

The chancellor said both sides were working on modalities to ease such restrictions.

"On the transfer of high technology for peaceful purposes, the prime minister mentioned the potential for high technology trade between India and Germany. We are cooperating closely on this, and will work towards a smoother cooperation," she added.

Merkel also said there is a good military-to-military cooperation which should be seen as a posistive development in bilateral ties.

At their joint news conference, both Singh and Merkel said the two countries have decided to step up efforts to increase bilateral trade to €20 billion by 2012 from the existing level of around €15 billion.

Singh said despite the economic downturn the two sides were hopeful that the target set will be "achieved." Germany is India's largest trading partner in the 27-nation European Union.

On the ambitious India-European Agreement on Trade and Investment, Merkel said there is a need for both the sides to make "compromises" so that it is on track by March-April next as planned.

"Every side will have to make a compromise," she said, adding that Prime Minister Singh's visit to Brussels for the India-EU summit on Friday has made an "important contribution" in giving a push to the negotiations.

Both Prime Minister Singh and Merkel spoke warmly of Indo-German relations.

"India's relations with Germany are excellent. There are no bilateral irritants and I believe that the sky is the limit for our cooperation," Singh said.

Merkel on her part said Indo-German ties were in many ways a "partnership filled with life."



http://www.dnaindia.com/india/report_manmohan-singh-wants-germany-to-ease-export-control-laws-20-billion-trade-target-set_1480324

 

[SpArK]

India, Germany to work hard for advancing UN Security Council reforms​

Basking in the glory of getting non-permanent seats in UN Security Council, India and Germany said they will work "hard" in advancing reforms of the prestigious body and pledged to cooperate both bilaterally and within G-4.

The broad strategies on how the two countries will move forward on the issue of the much awaited reforms of the United Nations Security Council (UNSC) were outlined by Prime Minister Manmohan Singh at a joint news conference after his talks with German Chancellor Angela Merkel last night.

Prime Minister Singh said India will work "closely" with Germany both bilaterally and within the G-4 to enhance the effectiveness of the Security Council, as well as in support of the expansion of the permanent and non-permanent categories of its membership. The two countries will serve a two-year term as non-permanent members from January one next.

Merkel said the two countries will work "hard" to advance reforms in the UN Security Council. "Now that India and Germany have got non-permanent membership the two countries will have interest in seeing that reforms advanced."

The chancellor noted that India was getting endorsement of several countries in its quest for a permanent membership in the UN Security Council. She, especially, referred to the US President Barack Obama's support for India's bid.

After Germany was elected to a non-permanent seat on the UN Security Council in October, German foreign minister Guido Westerwelle wasted little time in calling for major changes to the UN Security Council. The foreign minister criticised what he said was the lack of representation for certain regions of the world.

"It is not appropriate that two continents, like Africa and Latin America, do not have permanent seats on the UN Security Council. Asia, too, rightfully views itself as under-represented," he said.

"That is why any reform of the United Nations is not first and foremost about a permanent seat on the Security Council for us, but rather about a better reflection of global distribution of power," Westerwelle emphasized.

Westerwelle had also said a meeting of G-4 countries will be held in a few months to give fresh momentum to their efforts on the reforms in the UN Security Council. Besides India and Germany, the other two members are Brazil and Japan.

http://www.dnaindia.com/india/report_india-germany-to-work-hard-for-advancing-un-security-council-reforms_1480336

 

[SpArK]

India, Germany exploring civil nuclear cooperation​

India and Germany are exploring the possibilities of a civil nuclear commerce partnership to take forward their strategic ties, Prime Minister Manmohan Singh has said. Manmohan Singh, after a meeting with German chancellor Angela Merkel in Berlin on Saturday, told reporters: "On the bilateral side,


we deeply value Germany's consistent support, including in the Nuclear Suppliers Group, for the opening of international commerce for India in the field of civil nuclear energy. We have discussed the possibilities of entering into bilateral cooperation in civil nuclear energy."
The prime minister said his meeting with Merkel also focused on promoting cooperation in the area of renewable energy and energy efficiency.

Chancellor Merkel told reporters that the bilateral ties between India and Germany were of "strategic nature" devoid of any trust deficit.

"Our partnership with India is of a strategic nature. Our goals are ambitious and there is no trust deficit, on the contrary we are cooperating very well," Merkel said

India has an ambitious plan of generating 20,000 MW of nuclear power by 2020. It has signed civil nuclear agreements with France, the US, Russia, Canada and Britain.

Speaking to reporters who accompanied the prime minister on his two-nation European trip on way back home, Secretary (West) in the ministry of external affairs, Vivek Katju, said Germany's competitiveness in this sector can help India in its ambitious civil nuclear programme.

"Germany has experienced significant competitiveness in this field. Their considerable power needs are met through nuclear energy. This will help us in our progress to generate civil nuclear energy. This will now be explored further," Katju told reporters on board the prime minister's special aircraft.

Germany has expressed its willingness to help India in developing turbine technology for nuclear reactors and also in safety measures for such plants.

The Indian prime minister was in Berlin on Saturday on a day-long visit after attending the 11th EU-India summit in Brussels on Friday, during which they announced a near-breakthrough in four years of stalled talks over the trade agreement.

India, Germany exploring civil nuclear cooperation - Hindustan Times

 

[SpArK]

India ranks 10th in world in plant diversity​

India ranks fourth in Asia and tenth in the world in plant diversity, the Birsa Agricultural University (BAU) Vice Chancellor, N N Singh, has said. "India boasts of 45,000 plants and 91,000 animal species," Singh said delivering a special lecture on Agro-biodiversity and farmers' rights at BAU Saturday.


"India is the centre of 30,000 to 50,000 varieties of rice, pigeon pea, mango, turmeric, ginger, pepper, banana, bitter gourd, okra, coconut, cardamom, jackfruit, sugarcane, bamboo, indigo, goose berries, besides hundreds of species of wild crop relatives and forest trees," he said.


National and international organisations should work together in 'partnership mode' for collective action for biodiversity conservation while maintaining their respective areas of specialisation and thrust, he added.

He also emphasised on inter-disciplinary studies for agricultural landscapes, forests, habitats for pollinators and natural enemies of pests, species improvement, regulating local climate and water flows and soil formation and erosion control. Underlining the importance of integrated approach for conservation, Singh said farming system should bring together work in microbes, crop plants, forest trees, livestock, aquaculture and combine research on genetic, biological, agronomical, socio-cultural and economic aspects.

'India ranks 10th in world in plant diversity' - Hindustan Times

 

[RPK]

The Hindu : News / International : Malaysia names Special Envoy to India

Samy Vellu (74), until recently president of the Malaysian Indian Congress (MIC), will be Malaysia's Special Envoy to India and South Asia for Infrastructure with effect from New Year's Day 2011.

Announcing his appointment, while releasing his biography at a function in Kuala Lumpur, Malaysian Prime Minister Najib Tun Razak praised Samy Vellu for his “connection” with the South Asian countries. “Many Malaysian companies will benefit from his role as a Special Envoy on Infrastructure,” said Mr. Najib. Mr. Samy Vellu has held infrastructure-related portfolio in successive Cabinets for 24 years, besides presiding over the MIC for 31 years. As Special Envoy, he would travel to India and other South Asian countries regularly from his base in Malaysia, said S. K. Devamany, Deputy Minister in Malaysian Prime Minister's Department. Mr. Samy Vellu would have an office in the Prime Minister's Department and report directly to Mr. Najib.

Mr. Devamany said Mr. Samy Vellu's experience as “an architect of Malaysia's infrastructure sector” and in interacting with India in the same economic field were key factors behind his new appointment.

---------- Post added at 05:28 PM ---------- Previous post was at 05:27 PM ----------

The Hindu : News / International : Singapore hails ties with India

Singapore on Monday reaffirmed its “positive” ties with India and other countries which figured in a set of leaked United States' diplomatic cables on the city-state's relations with some of its neighbours.

A top Singapore official was quoted, in a cable, as telling U.S. officials in September 2009 that India's policy towards the Association of Southeast Asian Nations was “stupid” and Japan was a big “loser” in the context of China's enhanced ties with ASEAN. Malaysia and some of its leaders were also seen in poor light in the comments attributed to some Singapore officials, one of whom praised China's “intelligent diplomacy in the region”.

Responding to questions from the media on these cables released by WikiLeaks, Singapore Foreign Ministry spokesman said the city-state “has long-standing, robust, and positive relationships with all countries in our region”. These ties “are built on a strong foundation of shared interests and mutually beneficial cooperation in many areas”. Countries “base relationships on their own interests and not [on] hearsay or gossip”, said the spokesman, without naming the states that came in for criticism from Singapore officials as quoted in the cables.

“Singapore takes leaks of confidential information very seriously and would not tolerate [them] here.”

 

[SpArK]

Hero, Honda separation to be announced today​

The board of Hero Honda is likely to meet today to decide on ending their joint venture with Japanese auto major Honda. The parting of ways comes 26 years after the joint venture was set up in 1984.

The unease between the partners started after the Japanese firm decided to enter the Indian two-wheeler market through it’s wholly- owned subsidiary Honda Motorcycle & Scooter India (HMSI).

Honda and the Munjals-promoted Hero group hold 26 per cent each in Hero Honda, the world's largest two-wheeler maker. Hero Honda sold 4.5 million two-wheelers in the last fiscal, grabbing 48 per cent of the growing Indian two-wheelers market, which is the second biggest in the world after China.

According to sources, the Indian promoters (the Hero group) are likely to buy out the 26 per cent Honda stake with limited participation by a PE (private equity) consortium.

Hero Group, promoted by the Munjal family, will also pay Honda a substantial amount over three-four years as royalty to source technology from the Japanese auto maker, sources said.

The deal size is likely to be $1.4 billion which is below the current valuation of Honda's 26 per cent stake at approximately $1.8 billion.

The Honda Motor Company board has agreed to terms of deal in Japan and is likely to issue a statement to the Japanese stock exchange Nikkei soon.

The brand name 'Hero Honda' is likely to stay till the technology pact ends in 2014. The validity of the pact guarantees another three-four models to the joint venture company.

Post split, Honda proposes to focus its resources on the new wholly-owned subsidiary Honda Motorcycle and Scooter India (HMSI) while the Hero group is likely to focus on maintaining its leadership in the two-wheeler space.


Read more at: Hero, Honda separation to be announced today - NDTV Profit

 

[SpArK]

European Union and India resolve generic drug dispute: EU trade chief​

India and the European Union have resolved their dispute over generic drugs, but the 27-nation bloc has to change its regulations to effect new laws allowing passage of Indian consignment through some European countries without being confiscated.

"We have discussed this in detail with our Indian counterpart. It is fair to say that in substance, we have an agreement," EU trade commissioner Karel De Gucht said during a visit to Ottawa in Canada for free trade talks.

However, to put the agreement into practice, "we have to modify European regulations or European legislation ... and we have to do that through the co-decision procedure, which obviously takes some time," he said.

In several instances since 2008-09, shipments of Indian off-patent generic drugs en route to Africa and Latin America were confiscated by some EU members like the Netherlands. They said these drugs violated the EU regulations.

India dragged the EU to the World Trade Organisation, which asked the parties in the dispute to initiate mutual consultations to resolve it.

The agreement has been reached after a few rounds of talks, including at the ministerial level between commerce and industry minister Anand Sharma and De Gucht.

Of its US$ 22 billion generic drug industry, exports of Indian generics account for US$ 10 billion.


European Union and India resolve generic drug dispute: EU trade chief - World - DNA

 

[pulsar220]

India, Indonesia cross $10 bn trade target ahead of schedule

New Delhi, Dec 15 (IANS) Trade between India and Indonesia surpassed the $10 billion target, one year ahead of the deadline set by the two countries, the commerce ministry said Wednesday.

The statement came on the sidelines of a meeting between Commerce and Industry Minister Anand Sharma and Indonesian Minister of Trade Mari Elka Pangestu here.

'We attach high importance to our 'Look East Policy' and our economic integration with the region. We are happy that India-ASEAN FTA (free trade agreement) has come into force between India and Indonesia from Oct 1, 2010,' Sharma said.

The meeting was also attended by Commerce Secretary Rahul Khullar along with senior officials from both the countries.

Sharma said he hoped to get support from Indonesia for concluding services and investment negotiations.

'We seek your support in concluding the services and investment negotiations by the agreed deadline of March 2011,' Sharma said.

India's major exports to Indonesia include petroleum products, organic chemicals, electronic goods, iron and steel and machinery. India imports edible oils, petroleum products, ores, chemicals and rubber products.

According to the ministry, total foreign direct investment (FDI) inflows from Indonesia stood at $0.60 billion in sectors such as non-conventional energy, construction activities, trading, electrical equipment and information and broadcasting.

India, Indonesia cross $10 bn trade target ahead of schedule

 

[SpArK]

India to become power surplus nation: Shinde​

Union Power Minister Sushil Kumar Shinde has said that India would be a power surplus nation with the addition of 45,000 MW of power during the 12th Five Year Plan period.

"We have added about 44000MW of capacity during the last four-and-a-half years. Last year capacity addition was 9,585MW, which is the highest in a year. We have a target of generating 15000MW this year," Shinde told a seminar here on Sunday.

"With the completion of various power project within the 12th plan we would be able to add 45000 MW" he said, adding that after the independence India used to generate 1400 MW and now the country generates 1,67,000MW.

"The power sector in the country has immense potential. I hope that private sector would use the same in the coming days," he said.

Regarding Tripura's commercial supply of power to Bangladesh, Shinde said that since Tripura is a small state and it would also soon become a power surplus state in coming days, as it can sell its power resources to other countries.

"Yes, Tripura needs very little power and see at the moment there is some shortage but soon Tripura will become a surplus (power) state and they can sell their power. Even today, while I did review, even today they sell power to other countries," he added. (ANI)