India proactively boosting trade ties with Africa, Sitharaman
The Dollar Business Bureau Various steps have been taken by Government to enhance trade and commercial relations with African countries, the minister for Commerce and Industries told the Upper House. Replying to a question in the Upper House, Nirmala Sitharaman said bilateral trade between India and African countries are reviewed regularly, including through bilateral mechanisms like of Joint Trade Committee Meetings and Joint Commission Meetings. The 4th India-Africa Trade Ministers’ Meeting was organized in New Delhi on October 23, 2015. Negotiations to enter into Free Trade Agreement with the Common Market for Eastern and Southern Africa (COMESA), a Regional Economic Community in Africa, Preferential Trade Agreement with the South African Customs Union (SACU) and a Comprehensive Economic Co-operation Partnership Agreement (CECPA) with Mauritius ...
Hybrid annuity projects, renewable energy, slowing down on kharif acreage take precedence this week
By Abin Daya The power sector in India is one which has been classified as a ‘negative’ industry by a number of lenders due to the woes surrounding ailing thermal power producers. However, the renewable energy segment was always looked upon favourably due to the phenomenal growth exhibited in the past few years. This segment too might be going through a period of change as we see in this week’s update. While wind energy might be looking at a period of slow growth, changes in duty structures are what the solar power generators might have to encounter. On the infrastructure side, some good news for developers who have been trying to avail financing for projects under the Hybrid Annuity Model. While lenders ...
Indian Railways to join hands with Malaysia to modernise and redevelop 20 stations across country
The Dollar Business Bureau The Indian Railways is making plans to join hands with Malaysia to redevelop about 20 stations in Tier-II cities across the country. This project could attract nearly Rs 1 lakh crore in private investment the railways said. The redevelopment project entails infrastructure revamp at platforms and in the circulating areas. The project also encompasses development of station areas for commercial purposes. The government has plans to construct hotels, eateries, shopping malls, office complexes and multiplexes in the excess land that railways has, for the developers to be used for 45 years. For facilitating growth of Tier II cities such as Faridabad, Cuttack, Amritsar, Jamshedpur, Kochi, Jammu, and Bikaner, the Centre, state and local governments ...
Blue Star expects a growth of 30% in FY 2017
The Dollar Business Bureau Blue Star, the largest air conditioning (AC) and commercial refrigeration company in India, has expected a total growth of 30 percent during the financial year 2016-17. During a press meet on Tuesday, B Thiagarajan, Joint Managing Director, Blue Star said, "As a brand, Blue Star continues to be a major player in the commercial and corporate segment which consists of a 25 percent of the total market size.” In the last financial year, the company grew at a rate of 20 percent which is more than the growth of industry and had a market share of 10 percent, Thiagarajan said. He further said that we wish to continue to grow at the same pace ...
India-ASEAN ties poised to scale new heights: Vice President
Source: PTI Vice President Mohd. Hamid Ansari during a meeting with the President of the National Assembly of Cambodia, Heng Samrin, in Phnom Penh, Cambodia on Wednesday. Asserting that India-ASEAN ties are poised to scale new heights, Vice President Hamid Ansari on Wednesday said India's relationship with Cambodia was a "key element" in its engagement with the key regional grouping as the country moves forward with the Act East policy. Ansari in his address at the Office of the Council of Ministers said the government has recently set-up a Special Purpose Vehicle (SPV) to attract Indian investments into Cambodia and other CLMV – Cambodia, Laos, Myanmar and Vietnam— countries. “We hope to launch this new initiative soon and I am ...
India, US to hold key commercial talks next month
Source: PTI India and the US will hold first-ever high-level strategic and commercial dialogue next month in Washington focusing on areas such as ease of doing business and smart cities with an aim to boost investment and raise bilateral trade five-fold to $500 billion annually. “The Strategic and Commercial Dialogue (S&CD) will be held in Washington DC in 6-7 weeks,” US Under Secretary of commerce for international trade Stefan M Selig told reporters in New Delhi. He is in town to meet Commerce Secretary Rita Teaotia for the preparatory talks. Selig said these dialogues will revolve around four areas -- ease of doing business; innovation and entrepreneurship; smart cities with a specific focus on renewable energy, and harmonisation of standards to increase ...
