| POLICY WATCH |
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RBI panel to advise on monetary policy
| The Reserve Bank of India (RBI) has announced the formation of a technical advisory committee (TAC) to advise it on monetary policy and separately cautioned banks on their credit reporting practices. |
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Limitless plan among SEZs approved
| The Board of Approval for Special Economic Zones (SEZs) has granted two formal approvals and one in-principle nod for setting up of information technology (IT)/IT-enabled Services (ITeS) and multi- service SEZs in West Bengal, Andhra Pradesh and Tamil Nadu. |
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PAN relief for SIP up to Rs 50,000
| Mutual fund investors would now be exempt from furnishing their Permanent Account Number (PAN) for investments in systematic investment plans of mutual funds up to Rs 50,000 (US$ 1,038), according to A P Kurian, Chairman, Association of Mutual Funds in India. |
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| PEOPLE |
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Nooyi, Narayen among top 25 CEOs in the US: Forbes
| Indra Nooyi of PepsiCo and Shantanu Narayen of Adobe System have been named among the top 25 CEOs in the US, who kept their companies on the success path despite challenging economic conditions, according to Forbes magazine. |
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Lord Swraj Paul appointed in Queen's Privy Council
| Lord Swraj Paul, a leading UK-based industrialist, has become the first India-born Briton to be appointed as a member of the Queen's Privy Council, the British monarch's advisory group. |
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Indian-American woman in race for Governor of South Carolina
| Indian-American Namrata Randhawa Haley has announced her candidacy for the Republican Party nomination for the Governor of South Carolina, which will go to polls next year. |
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| ECONOMY AND ENTERPRISE |
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At 8%, India to grow fastest in '10: World Bank
| The World Bank has projected an 8 per cent growth for India in 2010—which will make it the fastest-growing economy for the first time—overtaking China's expected 7.7 per cent growth. |
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OECD upgrades India growth forecast to 5.9% for 2009
| India's growth outlook has been revised upwards to 5.9 per cent for the current financial year by the Organisation for Economic Co-operation and Development (OECD). Also, global financial major Citigroup projected a growth of 6.8 per cent in the Indian economy during 2009-10. |
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Infrastructure is key to success of govts: Montek
| The Indian economy is in good shape and bankers should not have any fear in financing infrastructure projects, Mr Montek Singh Ahluwalia, Deputy Chairman of the Planning Commission, said at the fourth Emerging Markets Forum organised by the Infrastructure Development Finance Company Ltd (IDFC). |
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Indian SMEs high on optimism: report
| Despite the economic downturn, Indian small and medium enterprises (SMEs) showed most optimism regarding economic growth in 2009, over majority of their counterparts in Asia-Pacific, according to the UPS Asia Business Monitor survey. |
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Telecom sector earnings may cross $30 bn by 2013
| Continuing its growth trajectory, the Indian telecom sector is expected to generate revenues of over US$ 30 billion by 2013, according to global analyst firm, Gartner. |
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FMCG industry set for 20-30% growth on increased rural demand
| The fast moving consumer goods (FMCG) industry is set to grow 20-30 per cent in 2009-10, driven by the launch of new products and increasing rural consumption, according to industry experts. |
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Durables makers to invest Rs 1,000 cr
| Major consumer durables firms are planning to invest about Rs 1,000 crore (US$ 208 million) over the next few months for product launches, research and development (R&D) and for upgrading capacity at existing manufacturing plants. |
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Amul ranks among top 21 global dairy biz cos
| Amul, a prominent brand of the Gujarat Co-operative Milk Marketing Federation, has been ranked among the top 21 largest dairy businesses in the world, according to findings published by the International Farm Comparison Network (IFCN). |
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SPECIAL - Indian investment abroad |
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| Indian companies are investing abroad in droves, adding a new dimension to the country's economy. Significantly, Indian companies created three lakh jobs in the United States and more than four thousand new jobs in the UK. Further, companies such as TCS and Elgi Equipments are opening their subsidiaries overseas. |
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"India has taken its place in the world economy. A lot of them (Indian companies) can be global companies. You already have them in cars and autos, in electronics and systems."
Jamie Dimon
Chairman and CEO
JP Morgan |
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| As a part of the first eclipse flight in India, a Boeing 737-200 special flight will track the moon's shadow on the next total solar eclipse on July 22, 2009. Space Technology and Education Pvt Ltd is looking after the technical side of the flight, while the logistics are being organised by Cox and Kings India Ltd. |
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Renewable energy use to be made mandatory for SEZs
| The ministries of Commerce & Industry and New & Renewable Energy are working on a regulation that makes the use of renewable energy mandatory for special economic zones (SEZ) to save on traditional fuel like coal and diesel. |
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Bid to increase green cover
| The Union Minister of State for Environment and Forests, Mr Jairam Ramesh, has set a target of increasing India's green cover by 10 per cent from the current level of 23 per cent in the next few years. |
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TERI, Dell launch 'Climate EduXchange'
| Global systems and services company Dell, in partnership with the The Energy and Resources Institute (TERI), has launched 'The Climate Eduxchange'—an IT-enabled initiative to improve environment education in schools across India. |
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