Reserve Bank of India (RBI) Deputy Governor Subir Gokarn on Tuesday said India cannot risk accepting high inflation as the new normal, nor can RBI afford to drop its guard.
The RBI is scheduled to announce the annual credit policy for 2011-12 on May 3. Industry representatives are expected to press the RBI to lower interest rates so that credit becomes cheaper for them in the customary pre-policy meeting.
In an interview with Business Standard, USIBC president Ron Somers explains the significance of the the US-India partnership.
'The good news is the technology industry is creating a space for you somewhere else.'
The four-day business trip is led by US ambassador to Singapore, David Adelman, and comprises 15 chief executive officers of major American corporations based in Singapore.
Federation of Indian Chambers of Commerce and Industry president and Bharti Enterprises vice president Rajan Bharti Mittal chaired a symposium on corporate leadership on climate change in the presence of the Prince of Wales, who is here in connection with the Commonwealth Games.
The Confederation of Indian Industry, Organising Committee of Commonwealth Games 2010 and Indo-Canada Chamber of Commerce entered into an agreement to boost business ties between India and Canada.
Attributing the decline to various global and domestic factors, especially poor performance of the manufacturing sector, the chamber called for 'immediate policy intervention' to deal with the situation.
Pharma exports from India to Russia have doubled in the last five years.
There is a case for more stringent evaluation of CSR plans based on voluntary allocations, but a rule-based approach might be more effective.
Dismissing concerns of India facing a governance deficit, Prakash P Hinduja, chairman, advisory board of Hinduja Bank, Switzerland, said on Tuesday that the Indian economy continues to enjoy confidence of global investors.
Giving a new dynamism to bilateral ties, Prime Minister Manmohan Singh on Sunday said India sees Saudi Arabia as a strategic partner for promoting peace, stability and economic development and that the conditions were ripe for the two countries to enter into a comprehensive energy partnership.
Doubts about the Obama administration's commitment to a strategic partnership with India were raised by the likes of Lalit Mansingh, former Indian ambassador to the US and former Indian foreign secretary, and Kanwal Sibal, former Indian foreign secretary and former deputy chief of mission in Washington, DC, in two separate panels titled 'American and Indian Strategic Interests in Asia' and 'Where is the US-India Strategic Relationship Headed in the Coming Year?'
India's exponential economic prowess has made Boeing covet that country like never before, said Thomas Pickering, former under secretary of state and former ambassador to India, who after he retired was a vice president with Boeing and who remains a consultant with the aviation giant.
The top bureaucrat's comments are diagonally opposite to the opinion expressed by corporate affairs minister Murli Deora who had favoured making the allocation of 2 per cent of net profit for CSR mandatory.
Favouring a free trade agreement between India and Bangladesh, business leaders of the two countries have suggested that a direct air link be established between Guwahati and Dhaka to promote commerce and tourism.
Ficci stood for the voice of a defensive, traditional Indian business class.
The chances of the posts opening remain slim, with security agencies recently identifying 10 suspects who smuggled in weapons, narcotics and fake currency.
Whenever people think of India, they will think of Ficci as a place they could go to facilitate investment, says Rajiv Kumar.
The company had decided to set up an office in Mumbai last year but had to shelve its plans because of recession and market conditions. The company as part of a consortium had placed bids in infrastructure projects last year in Malegaon, Pune, Chennai, Hyderabad.
The world has changed from G7 to G8 to G20, where India plays a key role.
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Ahead of the visit, Chinese embassy officials briefed Indian scholars that investment promised would be $100 billion. How this figure came down to $20 billion is a mystery.
Ace film maker Yash Chopra, who is also Federation of Indian Chambers of Commerce and Industry Entertainment Committee chairman, said the multiple taxation is a serious threat to the survival of the industry.
The committee is expected to submit its report soon.
Istanbul will not host a Formula One Grand Prix in 2012 due to a disagreement between Turkish officials and F1 commercial supremo Bernie Ecclestone over payments to stage the race, Turkish media reported on Friday.
Gujarat Chief Minister Narendra Modi on Sunday termed the West Bengal assembly polls as a "freedom movement" of people entangled into 35-year-long vicious cycle of "oppression".
Ranjit Sen has taken over as the new president of Indo-American Chamber of Commerce.
Unfazed by the Supreme Court upholding winding up of the company, shareholders of Devas Multimedia will continue to seek seizure of Indian government assets abroad to collect $1.2 billion the firm has been awarded by arbitration tribunals for cancellation of a satellite deal but are open for talks to settle the issue, their counsel said. "The decision by the Supreme Court does not change anything. The Modi government and the Indian courts cannot rewrite the facts. "Their flimsy allegations of fraud will never stand up in courts outside of India," said Matthew D McGill, partner at Gibson, Dunn & Crutcher, and lead counsel for several Devas' shareholders.
The federal and Ontario governments have granted $1 million to the Ontario Chamber of Commerce for allocation to 15 regions -- including Brampton and Mississauga that have high South Asian population -- to help new immigrants adjust. The funds will be further divided between local organizations for the execution.
Former India wicketkeeper and chairman of selectors Kiran More says the IPL will benefit from Chirayu Ramanbhai Amin's undoubted administrative skills.
The Indian information technology industry is relieved at the US Senate's decision to block the proposed 'Creating American Jobs and Ending Offshoring Act', that sought to offer a tax holiday for employers moving jobs to the US from abroad.
The government on Wednesday termed as "transient" the dip in export growth in August and said the trend would be known only in the coming months.
The Bangladeshi prime minister said that India's sudden decision to stop onion exports has led to a bit of difficulty for her countrymen.
A visiting Bangladeshi industry leader suggested on Friday that India would do well by allowing the entry of duty free products from its eastern neighbour and in return purchase natural gas from his country.
The RBI has been tightening key benchmark rates since November last year as the country started recovering from the impact of the global economic slowdown.
At 3.5 per cent per annum, interest on savings accounts is the only regulated rate in the banking system currently and a highly contentious one given its impact on the common man.
'The force of reforms. The force of investment. The force of formalisation. The force of digital and green technology. And the force of youth and entrepreneurship. I am convinced that these 5 forces will propel India's rise over the next several decades,' predicts Kumar Mangalam Birla, chairman, Aditya Birla group.
