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

[SpArK]

India welcomes boosting oil and gas ties with Iran​

Mehr News Agency quoted Mr Sudhir Bhargava additional secretary of India’s Ministry of Petroleum and Natural Gas as saying that India is willing to rejoin the peace pipeline project.

During his meeting with Iranian deputy oil minister for international and commercial affairs Mr Ahmad Khaledi, Mr Sudhir Bhargava went on to say that "India welcomes boosting oil and gas ties with Iran."

Mr Bhargava entered Tehran on December 19th 2010. During his two day visit the Indian official discussed oil and gas issues with Iranian oil minister Mr Masoud Mirkazemi, National Iranian Gas Company’s MD Mr Javad Oji, and other officials.

The IPI gas pipeline is a proposed 2,775 kilometers long pipeline to deliver natural gas from Iran to Pakistan and India. The three countries conceptualized the Peace Pipeline project in the 1990s to help boost peace and security in the region.

Due to the tense India-Pakistan relations, New Delhi stepped back from the later stages of negotiations, although it has never formally withdrawn from the project.

Iran’s proved natural gas reserves are about 1,000 trillion cubic feet, of which 33% are as associated gas and 67% is in non associated gas fields. It stands as the world’s second largest gas reserves after Russia.

(Sourced from Mehr News Agency)

 

[SpArK]

Indian Visas on Arrival for 5 More Countries​

The Indian Government has extended its Visa on Arrival Scheme to five more countries. Citizens of Association of Southeast Asian Nations (ASEAN) countries Cambodia, Philippines, Vietnam, Laos and Myanmar can now also get visas on arrival in India.

The visas, which are single entry Tourist visas valid for 30 days, are issued at Delhi, Mumbai, Chennai and Kolkata airports.

Apparently the extension of the Visa on Arrival Scheme, which came into effect on January 1, 2011, is aimed at attracting Buddhist pilgrims to India. The Indian government operates a special Buddhist tourist train that connects the Buddhist pilgrimage sites, including Bodh Gaya and a day trip to Lumbini in Nepal where the Buddha was born.

Indian Visas on Arrival for 5 More Countries

 

[SpArK]

India's exports rise 26.5 % in November​

India's exports rose 26.5 % to $18.89 billion in November while imports increased by 11.2 % to $27.79 billion, narrowing the trade deficit to $8.9 billion in the month, official data showed on Monday. Cumulative value of exports for the period April-November 2010 was $140.29 billion as against


$110.69 billion during the corresponding period a year ago, registering a growth of 26.7 %, according to data released by the commerce and industry ministry on Monday.
The government targets $200 billion exports during the fiscal 2010-11.

Imports in November increased 11.2 % to $27.79 billion as compared with $24.99 billion during the same month in 2009.

Trade deficit declined to $8.9 billion in November from $9.7 billion in October. India's trade deficit had widened to a 23-month high of $13.06 billion in August 2010.

Cumulative value of imports for the period April-November 2010 was $221.96 billion as against $179.06 billion during the same period in the previous year, registering a growth of 24 %.

Oil imports during the first eight months of fiscal 2010-11 rose 21.4 % to $64.85 billion while in November they increased a tad 2.31 % to $7.72 billion.

Non-oil imports rose 25.04 % to $157.11 billion during April-November 2010 period year-on-year while non-oil imports in November increased 15.05 % to $20.07 billion.

Commerce Secretary Rahul Khullar said recently trade deficit during fiscal 2010-11 was likely to remain in the range of $120 to $135 billion.

Trade deficit during April-November 2010 rose to $81.67 billion as against $68.37 billion during the same period in 2009.


India's exports rise 26.5 % in November - Hindustan Times

 

[SpArK]

Malaysia's Proton plans joint venture car assembling unit in India n​

05 January 2011

Malaysia's state-owned carmaker Proton Holdings Bhd said it was in discussions with a global equipment manufacturer to set up contract assembly manufacturing operations in India.

Proton is planning to enter a joint venture with an OEM for contract assembly manufacturing of Proton models in India, group managing director Syed Zainal Abidin Syed Mohammed Tahir said.

"We know, India is an important market but, to be successful, we need to work with a local OEM (in India). We have identified a company and have had many discussions," The Star newspaper quoted him as saying.

Speaking on the sidelines of the launch of the Intercontinental Rally Challenge and Asia-Pacific Rally Championship in Kuala Lumpur yesterday, he said the board of directors of the company was expected to approve the plan in the current quarter itself.


He said, Proton would take the help of its partners and subsidiaries as well as its partner in marketing and distribution of the car globally.

Proton is planning to launch its multi-purpose Exora and Persona and the global car Emas models to enter the Indian market.


domain-b.com : Malaysia's Proton plans joint venture car assembling unit in India

 

[SpArK]

India to be world's 4th largest passenger vehicle market in 3 yrs​

NEW DELHI: India will become the world's fourth largest passenger vehicle market in the next three years but will require an investment of about USD 20 billion to build up to nine new plants to meet the demand by then, according to global consultant Booz&Co.

The Indian passenger vehicle (PV) market will touch 3.5 million units mark in the next three years, it said. "By next three years, India will be the fourth largest PV market in the world. Only the US, China and Japan will be ahead of India," Booz&Co Partner Vikas Sehgal told PTI.

Currently, the domestic PV market is the world's seventh largest and it is likely to grow at 15-20 per cent every year till 2013, he added.

According to Society of Indian Automobile Manufacturers , the PV market stood at about 2 million units in 2009-10 and is expected to reach 2.4 million units in this fiscal. "India will even cross Japan by selling about five million PVs by 2017-18," Sehgal said.

In order to reach to such a mammoth size, auto makers will constantly need addition of capacities to meet demand. "India, in next three years, will need 6 to 9 new car plants with an average annual capacity of 1.5 lakh units... This will require at least USD 15-20 billion investment," Sehgal said.

The auto makers will not only have to add capacities, but will also have to expand distribution network, strengthen component sourcing chain and enhance R&D capabilities, he added.

Under the Automotive Mission Plan (AMP), the Indian market had earlier set a target to become a USD 145 billion by 2016, for which USD 35-40 billion investment is required.

According to rating agency Fitch, the growth of Indian PV market will slow down to 15 per cent in 2011 and profits of the companies are likely to be moderate due to inflationary pressure and huge capacity addition. During 2010, the total PV sales grew at about 30 per cent.

Fitch had, however, said that ongoing large capacity additions by many auto makers will create a demand-supply mismatch in the short-to-medium term until demand rises sufficiently to fully absorb the new capacity.


India to be world's 4th largest passenger vehicle market in 3 yrs - The Economic Times

 

[SpArK]

India-China direct service from FedEx

The new flight will offer Indian businesses the benefits of additional outbound capacity to Asia

FedEx Express, a subsidiary of world's largest express cargo company FedEx Corp, on Wednesday announced the launch of its direct services from India to China, giving a further boost to trade ties between the two countries.

The newly dedicated cargo flight, to be operated with an Airbus 310 aircraft five times a week, will connect its Asia Pacific hub at Baiyun International Airport in Guangzhou in Southern China with Mumbai and New Delhi. “This flight would provide direct communication from India to Asia,an improved transit time, and 160 tonnes of cargo a week. The new flight will offer Indian businesses the benefits of additional outbound capacity to Asia,'' FedEx Express India, vice-resident Kenneth F. Koval said.

He said FedEx had decided to operate 31 flights a week from India, 15 from New Delhi, 11 from Mumbai and five from Bangalore to key Asian markets such as China, Hong Kong, Taiwan andgapore, apart from 331 destinations worldwide. The flight will provide greater connectivity between Delhi and Asia and further boost trade between India and the Asia Pacific region. The APAC region is India's largest region for trade and contributed around 27 per cent of India's exports and 32 per cent of India's imports, Mr. Koval said. China was also India's largest trading partner with bilateral trade expected to cross $60 billion this year as compared to $42.42 billion in 2009-10, he said.

FedEx Express Managing Director, (India operations), Taarek Hinedi, said the company would be acquiring 11 Boeing-777 aircraft under its global fleet strengthening plan. FedEx has been operating a direct Delhi-Shanghai service since 2005 and its new flight from Bangalore establishes direct connections between key markets in South India to Europe the Middle East and the US, he said.

 

[SpArK]

Trade with India to cross 1 bn euros in 10 yrs: Netherlands​

Press Trust of India / New Delhi January 05, 2011, 19:41 IST

Bilateral trade in agri-products between India and the Netherlands is expected to cross 1 billion euros in the next 10 years, a senior agriculture official from the European country said.

"Last year, the total trade between India and Netherlands was around 345 million euros. We are expecting and targeting to take this up to one billion euros in the next 10 years," Netherlands Counsellor for Agriculture, Nature and Food Quality (India and Sri Lanka) Henk Van Duijn told reporters here.

He said at present, India exports agri-products worth 300 million euros to the Netherlands, which is a major trading hub in Europe, and total imports from the European country into Asia's second-fastest growing economy amount to around 45 million euros every year.
"We are now targeting to triple it in the next five to ten years' period," Duijn said.

In the coming year, the Netherlands is looking to import vegetables, fruits, potatoes and vegetable seeds from India, he said.

The Netherlands is also a partner country at this year's Flora Expo and Horti Expo 2011, scheduled to be held in New Delhi from January 7 to 9.

"...There are possibilities of collaboration between the two countries, especially with trade in agriculture products in general and trade in floriculture and horticulture products in particular," Netherlands Ambassador to India Bob Hiensch said.

Trade with India to cross 1 bn euros in 10 yrs: Netherlands

 

[SpArK]

India got 5.58 million tourists in 2010
​

2011-01-06 18:20:00



New Delhi, Jan 6 (IANS) A total of 5.58 million foreign tourists visited India in 2010, a 9.3 percent rise over the previous year.

In December alone, the tourist arrivals totalled 6.55 lakh, marginally better than the 6.46 lakh of December 2009, the tourism ministry said Thursday.

The statement, however, added that the tourist arrivals in December was lower than the previous month mainly because of flight disturbances in Europe and other countries.

The foreign exchange earnings from tourism in 2010 was $14,193 million. In 2009, this was $11,394 million, the statement said.


India got 5.58 million tourists in 2010

 

[SpArK]

India-Denmark to focus on IT, Telecom​

New Delhi, Jan 6 (IBNS) Union Minister of Commerce & Industry Anand Sharma , in a bilateral meeting with Brian Mikkelsen, Minister for Economy of Denmark, here on Thursday, informed that India and Denmark should focus in the areas of IT, Telecommunication, Biotechnology, Food Processing, and Pharmaceuticals for a mutually beneficial economic engagement.


He said that the growth in bilateral trade of 10.50% even in 2009-10 indicates the strong commercial ties between the two countries.



Bilateral trade between India and Denmark reached US $ 1,172 billion (exports - $ 580 million and imports $ 592 million) during the year 2009-10, an increase over the quantum of US $ 1,061 billion of 2008-09.



Interacting with the visiting Minister, Sharma mentioned that world leaders have re-affirmed their commitment to an early and balanced conclusion to the Doha Round.



“India sees one of the main threats to the revival of trade flows in the rising protectionist pressures and continued delay in concluding the Doha Round. Therefore, strengthening the multilateral trading system by concluding the Doha Round at the earliest is imperative,” he said.



Denmark ranks 28th in Foreign Direct Investments in India.



Cumulative FDI inflows from Denmark are U $ 173.12 million from April 2000 to Sept 2010. Danish investment has been in sectors of Construction, Transport Industry, Services, Telecom and Electrical Equipments. Indian companies invested in Denmark are Reliance Industries (yarn production), TCS, Suzlon Energy Ltd., Usha Martin and L&T Infotech.



The principal commodities being exported to Denmark include textiles, cotton yarn fabrics, transport equipment, machinery, electronic goods etc. India’s imports from Denmark include petroleum crude & products, medicinal & pharmaceutical products, organic chemicals, electronic goods, professional instruments.


India-Denmark to focus on IT, Telecom | ???????? ????? ????? Washington Bangla Radio USA

 

[SpArK]

INDIA'S TATA STEEL FORGES JV WITH NIPPON STEEL​

NEW DELHI, Jan 10, 2011 (AsiaPulse via COMTEX) --
Tata Steel said Friday it has inked a joint venture agreement with Nippon Steel (TSE:5401) for setting up a Rs 2,300 crore (US$507 million) specialty steel-making line having a capacity of 60,000 tonnes per annum at Jamshedpur to cater to the domestic auto sector.

The project is expected to be operational in three years time.

Tata Steel would hold a majority 51 per cent stake in the unnamed joint venture entity while the Japanese major would have the rest 49 per cent stake, the domestic steel major said in a filing to the Bombay Stock Exchange.

"The project (Continuous Annealing and Processing Line) will be set up at a capital cost of approx. Rs 2,300 crore and is expected to come on stream in 2013," it said, adding that the entity was expected to be incorporated within a month.

The joint venture entity would source steel from Tata Steel's Jamshedpur plant and use Nippon Steel's technology for production of high-grade cold-rolled steel sheet to meet the growing needs of the Indian automobile sector.

"The chairman of the joint venture company will be nominated by Nippon and the Managing Director will be nominated by Tata Steel", the statement said.

Continuing with strong sales momentum, country's buoyant automotive market even defied the usual trend of low sales in the last month of a year by posting robust growth in their dispatches during December 2010.

INDIA'S TATA STEEL FORGES JV WITH NIPPON STEEL | TradingMarkets.com

 

[WARBIRD]

India welcomes boosting oil and gas ties with Iran​

Mehr News Agency quoted Mr Sudhir Bhargava additional secretary of India’s Ministry of Petroleum and Natural Gas as saying that India is willing to rejoin the peace pipeline project.

During his meeting with Iranian deputy oil minister for international and commercial affairs Mr Ahmad Khaledi, Mr Sudhir Bhargava went on to say that "India welcomes boosting oil and gas ties with Iran."

Mr Bhargava entered Tehran on December 19th 2010. During his two day visit the Indian official discussed oil and gas issues with Iranian oil minister Mr Masoud Mirkazemi, National Iranian Gas Company’s MD Mr Javad Oji, and other officials.

The IPI gas pipeline is a proposed 2,775 kilometers long pipeline to deliver natural gas from Iran to Pakistan and India. The three countries conceptualized the Peace Pipeline project in the 1990s to help boost peace and security in the region.

Due to the tense India-Pakistan relations, New Delhi stepped back from the later stages of negotiations, although it has never formally withdrawn from the project.

Iran’s proved natural gas reserves are about 1,000 trillion cubic feet, of which 33% are as associated gas and 67% is in non associated gas fields. It stands as the world’s second largest gas reserves after Russia.

(Sourced from Mehr News Agency)

But why did RBI recently blocked transaction with Iran

 

[sid1508]

I am for the Freedom of Tibet and end of the rule of Communist Party of China in China. Lets hope Koumintang rules whole of China again.

 

[justanobserver]

I am for the Freedom of Tibet and end of the rule of Communist Party of China in China. Lets hope Koumintang rules whole of China again.

The Kuomintang is anti separatist, and during its rule on mainland China, it crushed Uyghur and Tibetan separatist uprisings. The Kuomintang claims sovereignty over Mongolia and Tuva as well as the territories of the modern People's Republic and Republic of China.

 

[pulsar220]

India, Peru discuss ways to enhance bilateral trade


NEW DELHI: India and Latin American country Peru today discussed ways to enhance economic cooperation and tap areas like minerals, hydrocarbons, engineering and IT.

In a meeting here, India's Minister of Commerce and Industry Anand Sharma and Peru's Minister of Trade and tourism Eduardo Ferreyros said that both the countries should actively work together for enhancing economic cooperation.

"The most important sectors that can be tapped are minerals, hydrocarbons, engineering, IT, science and technology," an official statement said.

To boost trade and investment between India and Latin American countries, the government had initiated a programme called "FOCUS: LAC", which provides incentives and financial assistance for supporting and encouraging Indian exporters and companies to boost trade in the region.

At present, Peru is India's eighth largest trading partner in Latin America.

The two-way commerce between the two countries in 2009-10 was about $411 million.

India's exports to Peru comprise of drugs, chemicals, cosmetics, rubber products, bicycles, motorcycles, machinery textiles and handicrafts. Imports from Peru are copper wires, minerals, zinc and wood products.
India, Peru discuss ways to enhance bilateral trade - The Economic Times

 

[SpArK]

Indonesia says to sign $15 bln economic partnership with India | Reuters​