Archive for the ‘Business’ Category
Tuesday, July 8th, 2008 |
Indian Silk exports have risen from Rs.2,359 crore in 2001-02 to Rs.3,338 crore in 2006-07, with a growth rate of 8.3 per cent. Addressing the Press conference in Hyderabad today after releasing the booklet tilted “Indian Textiles- The Sunrise Sector, highlighting the achievements of Textiles sector during the four year tenure of the Government, the Union Minister for Textiles said that fabrics and made ups constitute the bulk of the silk exports. He said that USA remains the largest destination for India’s exports of silk fabrics and readymade garments, with a share of 25.8 per cent and UK was the second largest destination with a share of 11.1 per cent in 2006-07. India is exporting silk goods to more than 100 countries and the silk export earnings are growing steadily due to increasing demand of Indian silk goods particularly from the USA and European countries, the Minister added.
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Posted in Industry | No Comments »
Friday, July 4th, 2008 |
An Offshore Patrol Vessel (OPV), indigenously designed in house and built by Goa Shipyard Limited was ceremoniously launched on 4th July 2008 by Smt Bharti Kumar, wife of Hon’ble Secretary (Defence Production) Govt. of India at the Shipyard.
This is the first of the new series of Three OPVs being built at Goa Shipyard for Indian Coast Guard. The 93.89 meters vessel is well equipped with State-of- the-art Navigation and Communication equipment automated by an Integrated Bridge System (IBS), thus making the ship a versatile platform.
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Posted in Companies, Defence | No Comments »
Tuesday, July 1st, 2008 |
India held wide ranging bilateral talks with Iran and Colombia on the sidelines of the 19th World Petroleum Congress in Madrid, Spain today on further enhancing cooperation in various activities in the hydrocarbon value chain. In a meeting between Minister of Petroleum and Natural Gas and his Iranian counterpart Mr. GholamHossein Nozari, Iran conveyed its optimism on implementation of Iran-Pakistan-India (IPI) gas pipeline project citing the positive progress made by India and Pakistan in settling outstanding bilateral issues. Mr. Nozari said that Iran was open to considering India´s proposal to change the point of gas delivery from Iran-Pakistan border to Pakistan-India border.
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Posted in Commodity and Energy | No Comments »
Tuesday, July 1st, 2008 |
India and Cuba have finalised India Cuba Hydrocarbon Agreement for cooperation in the oil and gas sector. This emerged at an hour long meeting between the Minister of Petroleum and Natural Gas and his counterpart from Cuba Ms Yadira Garcia Vera, Minister of Basic Industry, in the afternoon yesterday (evening India time) at Madrid (Spain) on the occasion of the 19th World Petroleum Congress. Recognising the need for such a mechanism for facilitating further cooperation between the two countries, the two sides agreed that Indian Petroleum Minister would visit Cuba for signing the agreement which could coincide with spudding of oil wells by ONGC Videsh in its exploration block in Cuba.
Minister of Petroleum and Natural Gas recalled the long standing friendly relations between the two nations and emphasised that the process to further cement ties should be carried forward in the backdrop of ventures finalised in recent years. OVL acquired interests in 9 exploration blocks in Cuba including 100% in two blocks. The Contracts for these blocks were signed in 2006. He expressed keen interest of the Indian companies to participate in both upstream and downstream projects in Cuba which have good potential to fructify.
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Posted in Commodity and Energy | No Comments »
Tuesday, July 1st, 2008 |
HCC, India’s leading construction and infrastructure development Company, has bagged the prestigious order from National Highway Authority of India (NHAI) to construct the 4.4 km elevated highway at Badarpur on National Highway 2 (Mathura Road) near Delhi on BOT basis.
The contract envisages design, construction, development, finance, operation and maintenance of 4.4 kms of six lane elevated road. The cost of the project is estimated at about Rs 340 crores. The company has received the letter of award from NHAI for this project with concession period of 20 years including the construction period of 24 months.
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Posted in Companies, Infrastructure | No Comments »
Monday, June 30th, 2008 |
Samtel Display Systems manufacturer of avionic equipments and systems, today announced that the indigenous Multi Functional Displays (MFD), jointly developed with Defence Avionics Research Establishment (DARE) (DRDO) and manufactured by them have got clearance for flight testing from RCMA (Regional Centre for Military Airworthiness), and was subsequently followed by flight trials.
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Posted in Companies, Defence | No Comments »
Monday, June 30th, 2008 |
The National Security Advisor (NSA) is presently examining all pros and cons of joint recommendations made by Defence, Communication & IT Ministries before release of Spectrum so that the issue of national security is not at all compromised.
Disclosing this at ASSOCHAM organized Conference on `WiMAX : Driver for Broadband in India’ here today, the Minister of State for Defence, Mr. M.M. Pallam Raju said that after the Ministry receives NSA’s observations, a decision on spectrum allocations would be taken accordingly.
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Posted in Telecom | No Comments »
Monday, June 30th, 2008 |
The unprecedented increase in non-aeronautical service charges and manifold hike in ATF (Aviation Turbine Fuel) have seriously threatened the survival of the domestic civil aviation industry and, therefore, ASSOCHAM has emphasized the need for a “survival package” including setting up of an Aviation Economic Regulator”.
Interacting with the media, the ASSOCHAM Civil Aviation Committee Chairman, Mr. Jagdish Gupta along with representatives from the Industry lamented that there has been huge increase in cost particularly in hangar, checking & ticketing counters and backup office spaces. Therefore, there is an urgent need for the third regulator, the “Aviation Economic Regulator” along with the DGCA (safety) and BCAS (security) regulators.
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Posted in Travel and Transport | No Comments »
Friday, June 27th, 2008 |
Grid connected renewable power has been a major focus area in the Ministry of New & Renewable Energy. By the end of the tenth plan period, the installed capacity of renewable power was about 12400 MW. This constitutes about 8.8% of the installed capacity. Wind Power has made significant contribution to this achievement by installed capacity to the tune of 8760 MW. These activities have mainly shown results in the states of Tamil Nadu, Gujarat, Maharashtra, Andhra Pradesh, Karnataka and Rajasthan. Wind Electric Generators of unit sizes between 225 KW to 1.65 MW has been deployed across the country. India now ranks 4th in Wind Power Generation in the world after Germany, Spain and USA.
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Posted in Commodity and Energy | No Comments »
Friday, June 27th, 2008 |
The Ministry of Environment & Forests (MoEF) has issued the draft Costal Management Zone (CMZ), Notification, 2008 on May 1, 2008. This CMZ Notification, 2008 shall supersede the existing Coastal Regulation Zone (CRZ) Notification of February, 1991. It seeks to regulate and impose blanket restrictions on certain industrial and development activities in coastal areas which could be harsher than the existing CRZ dispensation.
To enable industry and other stakeholders understand the implications of CMZ Notification, 2008 and to help everyone in the workshop formulate suggestions, comments or observations for sending them to MoEF, Confederation of Indian Industry (CII) organized a one day workshop on CMZ Notification, 2008 and REACH Regulation of EU today at Kolkata.
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Posted in Industry, Policy | No Comments »
Thursday, June 26th, 2008 |
Central Government has issued notification No.29/2008-Service Tax, dated 26.06.2008 to exempt fully from levy of service tax on supply of transport vehicles (goods carriage) to a goods transport agency (GTA) to be used for transport of goods by road [section 65(105)(zzzzj) of the Finance Act, 1994].
Representations have been received from the All India Confederation of Goods Vehicle Owners’ Associations and also from the All India Motor Transport Congress requesting to provide relief on account of levy of service tax on supply of goods carriage to GTA for use in transport of goods. It has been stated that GTAs often provide services in relation to transportation of goods by road using the goods carriage obtained on rent or hire basis. The relief has been sought on various grounds inter alia that the service tax paid on renting / hiring of goods carriage, without right of possession and effective control, could not be taken as input credit for payment of service tax towards GTA service.
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Posted in Policy, Travel and Transport | No Comments »
