Indian exporters are not opening the bubbly yet despite a rapid depreciation of the rupee, which fell to a 17-month low of Rs 44.17 against the US dollar on Tuesday before rising to close at Rs 43.85.
India's trade envoys to the World Trade Organization are comfortable with the proposed norms on concentration of tariff cuts, but are firm that the sectoral proposals at the Doha Round will have an adverse impact on the country's economy.
Even as World Trade Organization director general Pascal Lamy has claimed that a successful Doha Round will lead to rich nations undertaking steeper tariff cuts than developing and poor nations, an analysis of the proposals shows the opposite may be true.
In May 1992, ONGC handed over gas pipelines and marketing functions connected with natural gas to GAIL. However, it continues to be the marketing agency in certain isolated pockets.
ONGC currently supplies gas directly in isolated pockets of India, mainly in Gujarat and Assam, which contributes around Rs 100 crore (Rs 1 billion) to ONGC's total marketing revenues. In May 1992, gas pipelines and marketing functions related to natural gas were transferred by ONGC to GAIL. However, there are certain isolated pockets where ONGC continues to be the marketing agency.
US-based foundation to set up Rs 20,000-crore Integrated SolarCity.
The government may defer the implementation of the sixth Pay Commission award by a year or even two to reduce the fiscal burden of the recommendations that proposed a 28 per cent across-the-board salary increase for an estimated 4.5 million central government employees. The report of the commission headed by Justice BN Srikrishna was submitted to the government on March 24 this year, nearly a fortnight before its 18-month tenure was to end.
ADAG slots Rs 1,200 cr for wind power plants
Storm clouds of a different kind are gathering on the macro-economic horizon and they have nothing to do with surging global crude oil prices. The monsoon has played truant across large parts of India, with western and southern India reeling under the impact of deficient and scanty rainfall
Land acquisition for special economic zones is stuck because of a year-old directive by the Empowered Group of Ministers that bars state governments from carrying out compulsory acquisition of land for the zones.
On July 21, trade ministers from nearly 50 countries will converge at Geneva to finalise proposals on agriculture and non-agricultural market access (Nama) which are part of the Doha Round of world trade talks. World Trade Organisation Director General Pascal Lamy tells Business Standard why the ministerial is crucial.
With oil flowing past $145 a barrel, leading companies in the country have lined up plans to explore opportunities in jatropha cultivation and prospects of biofuel. The companies are flocking to Gujarat, which has earmarked 1,900,000 acres in the Narmada region for the crop cultivation.
The seven government-owned special economic zones across the country are likely to be given autonomy, resulting in greater financial flexibility for these tax-free enclaves. The move will help these zones compete with the private sector SEZs, which are attracting investment from companies.
Exports double, while jobs and investments show robust growth rate. The commerce ministry has projected exports from the zones at around Rs 1,25,950 crore (Rs 1,259.5 billion) in 2008-09, growth of 89 per cent over the previous year.
Even if our findings are not to the liking of our sponsor groups, we always stand by them, Icrier Director and Chief Executive Rajiv Kumar tells Business Standard. The study took a long time to come and the perception is that the data have been 'fixed' to arrive at tailor-made conclusions that suit the government (the sponsor of the study).
As corporate line up CSR activities backed by a huge cash flow, a small group of people lying below the poverty line are treading the road untravelled. As many as 27 marginalised salt pan workers, who earn their living in Kutch by producing salt from the area, are now proud owners of a private limited company called Sabras, formed a year ago.
Cadila Pharmaceuticals has chalked out ambitious plans to set up close to eight units in its upcoming PhaEZ Park near Ahmedabad, which is touted to be the largest in India. The eight units will come up in a phased manner in a span of six to seven years.
Rupee appreciation has hit the pharma industry as exports for the financial year 2007-08 are estimated to rise a moderate 7 per cent against the targetted 30 per cent growth. Besides rupee appreciation, the dent in exports due to pricing pressure in the US, where a lot of products have gone off patent recently, also affected the exports.
The floor seems to be divided between realtors and Gujarat urban development authorities on the implentation of the New Integrated Township Policy. Township projects worth over Rs 10,000 crore (Rs 100 billion) in and around Ahmedabad have been left in a lurch due to this, according the real estate developers. Many developers who have already earmarked land for the townships feel that the policy is not yet implemented
Adani group has begun the spadework to come up with a mega initial public offering (IPO) aiming to raise about Rs 5,000 crore (Rs 50 billion) for setting up a power generation capacity of close to 10,000 megawatt in next five years. The company is chalking out investments plans for generating 1,320 mw power in Rajasthan and 2,000 mw at Dahej in Gujarat by 2012.
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