A delegation from Russia is in India now to authorise some laboratories to certify the quality of the commodities exported to Russia. The delegation is visiting various labs and processing units from various parts of the country, including Mundra port. Russia had banned export of groundnut and sesame seed from India on May 1 this year on the basis of quality parameters of a single consignment.
The gas major "plans to invest Rs 76,000 crore (Rs 760 billion) domestically and Rs 46,000 crore (Rs 460 billion) overseas" during five-year plan ending 2012, its Chairman and Managing Director R. S. Sharma told reporters in Mumbai. The company earns a cash profit of Rs 2,000 crore (Rs 20 billion) per month and domestic investments will be made through internal accruals.
In an interview, Jay Matulich of Septos Capital Management said that bullishness in commodities may be slowing down.
Sounds a little far-fetched -- but it's true. You see the EU is in desperate need of a substitute for common gasoline for its cars and diesel for the huge trucks. Given the shaky security of oil supply, it's no surprise that engineers are taking some unusual approaches in trying to find a replacement for fossil-based fuels.
Over 1,800 types of commodities, including copper, lead, zinc and cloth, are added to the category. Importers will have to deposit half of their payable levies (including import duty and VAT) at the customs when they import raw materials.
Delhi's power problems could go for a toss if Gas Sales Agreement that GAIL (India) Limited has inked with Pragati Power Corporation Limited to supply 2 MMSCMD of R-LNG becomes operational. The peak demand for electricity in Delhi is slated to grow from the current 4100 MW to 5630 MW in 2010 as per the estimation of Central Electricity Authority.
In 2006, Brazil, Russia, India and China accounted for about 41 per cent of global steel demand; the commodity demand was up to 12.8 per cent in 2007 and is expected to go up 11.1 per cent by 2008, IISI said in the report.
The exchange has formed a new company -- NCDEX Spot Exchange--and senior officials said bullion will be one of the important products in spot market trading.
The first-phase of the three-phase project is to set up the trade tower on over 4 million sq. ft area. The second phase is to develop the business district on 30 acres in seven years. In the third phase the remaining 16.28 acres of the business district on would be developed.
KH Muniyappa, Union minister of state for road transport and highways said once the consultancy firm, appointed to fix the value of assets of the gold mining company, submits its report on the entire stretch of 80 kilometer radii of Kolar, the tenders will be floated. This, he said, is likely to happen in the next three months.
Ministry of New and Renewable Energy signed the memorandum today with Iceland. According to the understanding, both the countries will decide upon project proposals related to design and development of various new and renewable energy technologies. They will also identify areas of mutual interest and cooperation for developing systems, sub-systems, devices, components for generating renewable energy, an official release said.
India's commodity markets regulator, the Forward Markets Commission has urged commodity exchanges to review the mechanism of spot market prices. In an interview to a leading business daily, FMC Chairman B C Khatua said the commodity exchanges should widen the sample size of the poll participants for spot market prices.
According to the US-based Financial Markets International, India's ban on foreign funds into commodity futures market is these days benefiting the Chinese commodity markets. It pointed out that the cumulative effect of foreign investment is undeniably positive. "Limiting foreign investment in India's commodity futures exchanges would deny a key impetus to a rapidly growing sector of the Indian economy," the report said.
Three reconnaissance permits were issued during 2006-07 enlisting private participation for use of sophisticated equipments in exploratory work. Madhya Pradesh is the top state in India today in diamond mining with the Panna mine producing 15000 carats of both gem and industrial variety stones annually.
Firms whose imports are in dollar denominated currencies are the major beneficiaries. Companies, which are being hurt the most with the rising rupee, are those whose revenues are generated in dollars and whose costs are denominated in rupees. A million rupee question (rather than a million dollar) is what strategies the Indian firms should adopt to make their business sustainable.
The proposed steel plant is a joint venture wherein Essar would hold 65 per cent stake, VSC 20 per cent and the rest 15 per cent would be held by Vietnam General Rubber.
Caf Coffee Day is a division of India's largest coffee conglomerate, Amalgamated Bean Coffee Trading Company Ltd, popularly known as Coffee Day, a Rs. 300 crore (Rs 3 billion) ISO 9002 certified company. Coffee Day sources coffee from 5000 acres of coffee estates, the 2nd largest in Asia, that is owned by a sister concern and from 11,000 small growers. It is one of India's leading coffee exporters with clients across USA, Europe & Japan.
According to the Agricultural and Processed Food Products Export Development Authority (APEDA), the restrictions had been lifted with the condition that sesame seeds and groundnut exported should carry the quality and safety certification issued by the Delhi-based Sri Ram Institute for Industrial Research or any other agency as may be notified from time to time.
India's apex sugar cooperative, the National Federation of Cooperative Sugar Factories (NFCSF), has asked farmers to grow sugar canes with high sugar content.
A new study on the impact of global warming on global food production by researchers of a US university says that in 20 years since 1981, there had been an annual loss of about $5 billion for the major cereal crops in the world. The Chennai-based MS Swaminathan Research Foundation (MSSRF) is implementing a project on vulnerability assessment and enhancing adaptive capacity to climate change (V&A Programme) in semi-arid India.
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