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CVD
on textile machinery may go
The
government proposes to waive countervailing duty
(CVD) on import of technical textile machinery
that is used to produce specialised items like
optical and glass stable fibres. [More]
Tough
FDI norms for finance firms
The
Government, in consultation with the Reserve
Bank of India, is considering modifications in
the foreign direct investment (FDI) norms for
non-banking finance companies (NBFCs) to check
unbridled acquisitions by foreign banks. [More]
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| PEOPLE |
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New honour for Kamal
Nath
Commerce & Industry Minister
Kamal Nath has been named FDI Personality of the
Year 2007 for Asia, as well as the worldwide
winner by FDI magazine and Financial Times
Business. [More]
US
honours father of India's Green
Revolution
Agricultural scientist Norman
Borlaug, regarded as the father of the Green
Revolution in India, was awarded the US
Congressional Gold Medal for his lifelong battle
against world hunger. [More]
Premji
among world's top entrepreneurs
IT mogul
Azim Premji has been included in a list of
all-time top 30 entrepreneurs by leading
business magazine BusinessWeek. [More]
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| ECONOMY AND
ENTERPRISE |
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Telecom
companies world leaders in
profitability
Indian telecom operators
are world-leaders in terms of profitability,
enjoying better EBIDTA (earnings before
interest, tax, depreciation and amortisation)
margin than their counterparts in developed
countries. [More]
India
to dominate global KPO market, create 1,80,000
jobs
India will account for two-third of
the global Knowledge Process Offshoring (KPO)
segment that could create up to 1,80,000 new
jobs here by 2011. [More]
India
tops consumer confidence index
ACNielsen
Consumer Confidence and Opinions Survey for the
first half of 2007 found that consumer
confidence is softening across the world but
Indians remain the most upbeat. [More]
Durables
firms log double-digit sales
growth
Consumer durable companies are
reporting a healthy double-digit growth as
domestic consumers are graduating from low-end
to the higher-end products. [More]
India
climbs up the income ladder
At US$ 1,021,
the Prime Minister's Economic Advisory Council
has projected that per capita income would
increase over 25.58 per cent this fiscal,
against US$ 831 in 2006-07. [More]
Major
ports' traffic grows 14.3 per cent in first
quarter
The major ports handled a total
of 123.09 million tonne (mt) during April-June
2007-08, against 107.71 mt in the previous
year's corresponding period - a 14.28 per cent
growth. [More]
Infrastructure
sector posts 8.7 per cent growth in
May
Buoyed by high growth rate in
petroleum refinery product output and higher
production of finished carbon steel, the index
for infrastructure industries recorded 8.7 per
cent growth in May 2007, against 7.2 per cent
last year. [More]
Technical
textiles market to double in 2008
An
internal document prepared by the textiles
ministry has projected the technical textiles
market to double to US$ 10.39 billion by 2007-08
from US$ 4.97 billion in 2005-06. [More]
India's
businesses better-placed globally:
Study
India's business owners are 'the
most positive' about their country's economic
prospects, as per Grant Thornton's study on
medium to large privately-held businesses. [More]
Unitech
to invest US$ 720 million in 4
years
Unitech will invest US$ 720 million
to build 28 hotels with partners, including
Marriott International, the world's biggest
operator. [More]
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Liberasilsation's
Children
A generational
shift is taking place on India's campuses.
Buoyant economy, rising incomes, an open mindset
and competitive pressures are converging to
create a new cocktail of opportunities
for the first batch of liberalisation's children
- those born in and around 1991. [More]
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Indian companies have a responsibility now as
the whole world is looking to
India.
Ibukun Adebayo
Head -
India Business Development
Alternative
Investment Market (of the London Stock Exchange)
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The
Oberoi Udaivilas in Udaipur, a grand setting
combined with palatial architecture in the heart
of Rajasthan, was voted the top hotel worldwide
by an international travel magazine
Travel+Leisure. [More]
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Smart
City to get 'Green' tag
The proposed
Smart City at Kochi will be constructed by
adopting globally-benchmarked
environmentally-friendly practices, making its
developments highly energy and resource
efficient. [More]
NDDB
plans to invest
US$ 3.71 billion for dairy
development, research
India's apex body
for milk cooperatives, National Dairy
Development Board (NDDB), will invest US$ 3.71
billion over the next five years to set up new
dairies and fund research to breed cows. [More]
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