The government has set a target of bringing the fiscal deficit down to 5 per cent of the GDP by 2011, and 4 per cent of the GDP by 2012.
"Land is limited, land is precious, land holds a special value to farmers and their families. We have to be sensitive to those who lose land to the industry knowing fully well that the industry also needs space. Emprical evidence shows that options other than compulsory land acquisition are also possible," said West Bengal Governor Gopalkrishna Gandhi. Without mentioning Singur even once, his speech at the ICC highlighted the farmers' interest.
The economic slowdown in India preceded global meltdown due to stoppage of reforms by the UPA government, former union disinvestment minister Arun Shourie said.
60 per cent of the companies reported improved industry performance at present, compared to the last six months.
Ravichandran, lovingly called Crazy Star by his fans, has been roped in to direct the three-day cultural programme marking the platinum jubilee celebrations of the Kannada film industry.
The economists, polled by industry body Federation of Indian Chambers of Commerce and Industry, said the RBI may raise the cash reserve ratio, which is a portion of deposits that banks keep in cash with the central bank, by 50 basis points to 5.5 per cent, although this would have no impact on containing inflation.
L K Advani, Bharatiya Janata Party stalwart and leader of the Opposition in Lok Sabha, addressed the 81st annual general meeting of the Federation of the Indian Chambers of Commerce and Industry (FICCI) on Thursday. In his speech, Advani makes a strong case for Swadeshi, creatively redefined, as a model of development to benefit Bharat, and not just India.
The beneficiaries of the second set of announcements are expected to be micro, small, and medium enterprises, farmers, women, poor, migrant workers, and other marginalised sections of the society, reports Arup Roychoudhury.
Alongside the mini-ministerial meeting beginning in Geneva from Monday, the World Trade Organisation is convening on July 24, a 'Singalling Conference' where countries would give indications of the kind of market they are willing to concede in services. It demanded that the conference should be held in serious negotiation mode. The domestic regulations acting as barriers to the supply of services by Indian professionals in the developed markets should be removed, it said.
According to a study by industry association Federation of Indian Chambers of Commerce and Industry and telecom consulting firm BDA, 3G revenues in the country will reach $15.8 billion, 46 per cent of the total wireless revenue, by 2013.
Indian companies, led by the Tata group, Essar and HCL Technologies, among others, have created more than 30,000 jobs and made large investments in the United States, a joint report of the Federation of Indian Chambers of Commerce and Industry and the US India Business Council said.
There can be no serious argument for not having an independent regulator in every sector. Regulators in a sector are akin to independent directors on the board of a company who ensure that the game is played by some rules.
With companies facing severe credit crunch, a top body of British employers on Monday asked for freezing of the national minimum wage until the economy recovers from the financial downturn.
The Bangalore Chamber of Industry and Commerce (BCIC), which represents the medium and large industries in the state, has urged the Karnataka government to come out with a state-specific relief package for the industrial sector including announcement of a one-year interest free loan scheme to industries.
Modi assured US investors that in the next six months, he would implement all the things necessary for ease of business in the country.
Different industry and trade bodies have extended their support to BangaloreIT.in, the premier annual IT event organised by the Karnataka government and STPI. The three-day event will be inaugurated on the 29th of October in the premises of Bangalore International Exhibition Centre (BIEC).
Industry bodies Confederation of Indian Industry and Federation of Indian Chambers of Commerce and Industry have asked for cut in interest rates to spur the sagging economy while presenting 100-day action plans to the government on Friday. Faced with high borrowing rates and demand slowdown,industry chambers have presented separate 100-day action plans to the government asking for steps to restore the economy back on high growth trajectory.
Speaking on the sidelines of an HR conference organised by the Indian Chamber of Commerce, S Tambe, vice president, human resources & corporate administration, TML said, "There are companies that haven't given a raise this year but we are definitely looking at giving increments this year."
The number one way the Modi administration can demonstrate its commitment to the success of the Atal Innovation Mission, Accelerating Growth for New India's Innovations, Make in India, Digital India, and Startup India is to strengthen its IP framework in ways that promote the legal and regulatory certainty necessary for greater R&D investment, high-value jobs, and greater innovative and creative outputs, the report said.
Assocham's first lady chief talks of the need to unleash new ideas and wonders why, when India has such politically powerful women, they're hardly to be seen in business.
The minister further said another industry chamber Federation of Indian Chambers of Commerce and Industry too had contradicted the Assocham study, which had said that in the next 10 days or so about 25 to 30 per cent employees are likely to lose jobs in seven sectors including aviation, information technology, steel, financial services, real estate, cement and construction.
Cable operators in Karnataka and Tamil Nadu, which are feuding again about the Hognekal issue, have decided to keep politics at bay and continue airing both Tamil and Kannada channels.The Karnataka Cable Television Chamber of Commerce has decided against the blacking out of Tamil channels in Karnataka.But cinema hall owners in Karnataka have decided against screening Tamil movies in their theatres.
Elaborating this, Swati Piramal, vice president, Assocham and director of drug major Nicholas Piramal said though big multinational pharmaceutical companies have adequate cash reserves to face the global crisis, small and medium scale research-driven pharmaceutical and biotech companies which are heavily dependent on external funds for survival, may find the going tough and this will open up acquisition opportunities for Indian companies.
IDG Ventures India on Thursday announced that Kiran Karnik, former president of National Association of Software and Service Companies (Nasscom) and a recipient of the Padma Shri has joined the company, on their global advisory board. IDG Ventures India's advisory board includes icons like N Balasubramanian, K B Chandrashekar, Arjun Malhotra, Sridhar Mitta, Jagdish Sheth and V Sumantran. Kiran Karnik was president of Nasscom till January 2008.
Gopal Krishna Gandhi played a crucial role in trying to resolve the stalemate at Singur where Tata Motors suspended work on the Nano small car project for almost a month. The stand off between the ruling Left Front and the Opposition Trinamool Congress over acquisition of land for the project had dampened the prospects of Nano-roll out from the state as had been planned earlier.
The issue is that though the KFCC had published 75 books on various film industry personalities, it has ignored the names of those who played villains.
India's growth presents a win-win partnership for the country and the US, and American companies have a great opportunity to contribute to that, Modi told the CEOs.
Market regulator SEBI on Tuesday said it will be able to take action against the culprits in Satyam accounting fraud case in the next one year.
A successful entrepreneur from Karnataka, Rajeev founded Jupiter Capital, a venture development managment and investment company, in 2005 and launched the Kannada channel Suvarna in 2007.
The state received robust investment announcements worth Rs 2,43,489 crore in calendar 2007. In calendar 2008, investments fell 63 per cent, to Rs 90,095 crore (Rs 900.95 billion). The general slowdown in economic growth, however, may also have played a part in Bengal's declining rank, given that many of its major investments were in such sectors as steel, real estate and power, all of which are current casualties of slowing demand.
Pro-Kannada groups have called off plans to disrupt the release of Tamil superstar Rajnikanth's new film Kuselan in Karnataka after the actor expressed regret over a remark he made on the Hogenakkal row.
India's exporters are looking out for Euro-dominated trade opportunities due to strengthening of rupee and pressure on profit margins, according to a survey by the Federation of Indian Chamber of Commerce and Industry (FICCI).
The spat between Kannada actor Diganth and director Priya Bharathi (an NRI from the USA) has taken an ugly turn with the director alleging that the actor was sleeping with two of the film's heroines in the US where the shooting of her film e-Preethi was going on.
Indian small and medium enterprises are expected to emerge as major buyers of the information technology products by 2008. According to Joydeep Datta Gupta, executive director of Deloitte & Touche Consulting, any IT-led SME business transformation project could succeed only if the project was sustained.
Illinois governor Pat Quinn said on Friday the US, where the financial system has let people down, can 'learn a few things from India' on how to get its economy back on track, given the inspiring dynamism of the Indian economy.
Although the RBI's open market operations have ensured sufficient system-level liquidity, some sectors are finding liquidity to be a challenge owing to their credit profile.
ABN Amro may hike interest rates by 25-40 basis points by middle of 2006 and 50-70 basis points by the end of the year.
Ficci Secretary-General Amit Mitra said this new not-for-profit organisation had been set up to improve the availability of skilled manpower in India and Ficci had picked a 10 per cent stake in this company for Rs 51 lakh. The Skills Development Corporation itself is empowered with a corpus of Rs 1,000 crore. A Ficci representative will also be on the board of this company.
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