| POLICY WATCH |
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Foreign firms allowed to
pick 26 per cent stake in pension
funds
Foreign funds can own up to 26 per
cent stake in entities that would be set up by
state-owned banks, mutual funds and financial
institutions to manage the pension funds. [More]
FDI
cap for indirect foreign holdings
The
Government proposes to remove loopholes in
foreign direct investment norms that allow
foreigners to own stakes in Indian companies
higher than the sectoral caps. [More]
No
import duty on flying club aircraft
The 3
per cent import duty, additional custom duty and
countervailing duty on import of aircraft, was
moderated by removing flying schools and smaller
regional operators from its purview. [More]
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| PEOPLE |
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Kishor Lulla
wins Asian Business Award
Kishore Lulla,
co-founder of the Eros International's UK
office, is chosen for the Eastern Eye Asian
Business Award for 2007 for providing Indian
cinema an international platform. [More]
Visakha
Desai wins Woman of Achievement
award
Vishakha N Desai, president of the
Asia Society, was conferred the Woman of
Achievement' award in New York, by Women in
Development, a non-profit association. [More]
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| ECONOMY AND
ENTERPRISE |
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Industrial production zooms
12.9 per cent in March
Fuelled by
double-digit growth from the manufacturing
sector, industrial production grew 12.9 per cent
in March 2007, resulting in annual industrial
growth of 11.3 per cent for 2006-07. [More]
India
scores 8, China gets 4
Indian industry
outsmarted the world's fastest growing economy
China, with as many as 8 domestic firms in
Standard & Poor's list of challengers to
leading global blue-chip companies. [More]
Even
rural India shining: Survey
Signs of
economic development are becoming more visible
even in rural India with the number of
households owning cars, motorcycles and
television sets increasing significantly in
recent years. [More]
Oil
sector drives infrastructure growth
A
turnaround in crude oil output and higher
production by refineries pushed the growth of
six infrastructure industries to 8.6 per cent in
2006-07 as against 6.2 per cent in the previous
year. [More]
FMCG
burns bright with 19 per cent Q4
growth
FMCG sector continues its growth
sprint with both the combined net sales and net
profits of the leading 10 companies growing at
19 per cent for the quarter ended March'07.
Exports and overseas revenues too have shown an
impressive performance during the quarter. [More]
Textile
exports up 7.67 per cent in
2006-07
India's textile exports have
registered a growth of 7.67 per cent in 2006-07
compared to the previous year. [More]
IT,
ITeS to be US$ 100 billion sector by
2011
The Indian information technology
and related services (IT/ITeS) industry is
predicted to be a US$ 100 billion plus industry
by 2011, growing at a compound annual growth
rate of 18 per cent. [More]
Reliance
MF crosses US$ 12.08 billion mark
Anil
Dhirubhai Ambani group firm Reliance Mutual Fund
cemented its position as country's largest fund
house with its assets crossing US$ 12.08 billion
level. [More]
'Oberoi
Group among top 10 global hotel
chains'
India's incredible hospitality
and heritage has attracted global attention with
the country's leading hotel chain, Oberoi Hotels
and Resorts grabbing a position among the
world's top ten. [More]
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India on course to become
fifth largest market by 2025: Study
India
will pole-vault into the premier league of the
world's consumer markets by 2025, according to a
study by the McKinsey Global Institute (MGI), if
it sustains and accelerates economic growth. [More]
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India is light years ahead in terms of the
market potential and the potential for the
company (Boeing) to come together as an
enterprise and grow.
Q.R.
Thomas
President
Boeing
India |
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Set to become India's biggest
hit, Spiderman 3 was expected to close
the week with US$ 6.59 million from various
language releases in India. Overall, 588 prints
were distributed, a first for an English movie
in India. [More]
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India, China to lead green
projects by 2012
China and India will
become the most attractive countries for
investment in renewable energy projects by 2012,
Ernst & Young said in a report. The
countries are ranked for investment in all forms
of renewable energy and by individual types
including wind, solar and biomass. [More]
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