Economic Survey, an utter confession of Govt failures: P Chidambaram
Aamir H Kaki Senior Congress leader and former Finance Minister P Chidambaram said on Tuesday that the Economic Survey was an ‘utter confession’ that the current government under Prime Minister Narendra Modi, in the last four years, has failed to deal with three major issues of employment, education and agriculture. He was speaking at a panel discussion after release of his book, Speaking Truth to Power - a collection of his columns in The Indian Express published by Rupa Publications. The book was released by former President Pranab Mukherjee. Member of Parliament Shashi Tharoor, former Deputy Chairman of the Planning Commission Montek Singh Ahluwalia, senior journalist Shekhar Gupta also participated in the panel discussion. The session was moderated by journalist and television personality Nidhi Razdan. Chidambaram disputed the ...
Cruise tourism can be a major growth driver for Indian economy, Gadkari
The Dollar Business Bureau The Minister of Shipping and Road Transport and Highways Nitin Gadkari has said that Cruise Tourism is one of the fastest growing components of the leisure industry worldwide, and can be a major growth driver for the Indian economy by generating huge employment opportunities. Gadkari was speaking at the National Workshop on “Action Plan for Development of Cruise Tourism in India”, in New Delhi on Tuesday. The workshop was also attended by Minister of State for Culture and Tourism Dr Mahesh Sharma, and representatives of all stakeholder organisations – both from the government and the private sector – including regulatory agencies which deal with issues impacting cruise tourism. Pointing out that tourism has the highest investment to employment multiplier Gadkari said that on an average, ...
NITI to merge 15-yr vision document, 7-yr strategy paper
The Dollar Business Bureau NITI Aayog, the Government think-tank, has decided to combine the 15-year vision document with 7-year medium-term strategy paper to bring out a comprehensive roadmap to accelerate the economic growth. “We are thinking of having a brief chapter regarding the vision in the 7-year strategy paper which will be a bulky document outlining the action plan for expediting growth. The vision document will be aspirational, about the kind of country we want to build...The kind of society we want to be in. It will be a kind of vision for the future,” Arvind Panagariya, Vice-Chairman, NITI Aayog told the media. Panagariya said that the Aayog has got reactions from around 10 states on the 3-year action agenda draft and will conclude it within 2 weeks. Earlier, the Government think thank had ...
Mid-term review of FTP would be completed early to synchronise its roll out with GST, Sitharaman
Press Information Bureau Commerce and Industry Minister Nirmala Sitharaman has said that the revised Foreign Trade Policy (FTP) would be released early to synchronise the same with the roll out of GST. The core focus of the revised FTP would be promoting exports from the SMEs and high employment potential sectors. Nirmala Sitharaman was chairing a meeting on the mid-term review of the Foreign Trade Policy 2015-20 organised jointly by Department of Commerce and Research and Information System for the Developing Countries (RIS) . Commerce Secretary Rita Teaotia, Chairman RIS Hardeep Singh Puri and DGFT Ajay Bhalla also participated in discussions. The event was attended by the trade policy experts from the industry, academia, research and Government. Major suggestions discussed during the deliberations ...
MP govt gives 40 acres to Ramdevs Patanjali at Rs 10 cr
The Dollar Business Bureau The Madhya Pradesh Govt has allocated 40 acres of land to yoga guru Baba Ramdev’s company Patanjali Ayurved. The land allocated is in the Pithampur industrial area and Patanjali intends to set up a food processing unit at a cost of Rs 10 crore. Speaking to the media, Kumar Purushottam, MD, Madhya Pradesh Audyogik Kendra Vikas Nigam, Indore said, "We have allotted 40 acres of land to Patanjali Ayurved at Rs 25 lakh per acre. We have sent a letter to the company, asking them to deposit Rs 10 crore in government exchequer for the land.” Detailing the company’s objectives Kumar Purushottam said, the company planned to invest 500 crore for the next three years and provide employment to ...
IKEA to double source euro 600 mn from India
The Dollar Business Bureau Ikea said it will double source the products from India to nearly euro 600 million in coming three to four years. Juvencio Maeztu, CEO, Ikea India was speaking to reporters after the ground breaking ceremony, of IKEA India’s first store of nearly 4 lakh sq. ft with an investment of Rs 700 crore in Hyderabad. The Dy.Chief Minister of Telengana Govt, Mohammed Mahmood Ali and the State’s Chief Secretary Rajiv Sharma were present during the ceremony. The completed store is likely to be open in the autumn of 2017. The company has bought 13 acres of land in Hi Tec city, the software hub of Hyderabad. Ikea broke ground after nearly 3 years of bureaucratic wrangling in India. The Swedish ...
India created over 10,000 jobs in South Africa
The Dollar Business Bureau Indian companies have generated more than 10,000 jobs in South Africa with a total investment of more than $4 billion since 2003, South Africa’s Trade Minister Rob Davies said on Monday. "A total of 82 Indian projects in South Africa with a total capital expenditure of 62 billion rand ($4.2 billion) between January 2003 and January 2016 were recorded from 60 companies. These investments have created 10,660 jobs," Davis said, ahead of Prime Minister Narendra Modi’s upcoming visit to this African nation later this week. The prime minister is expected to take along a high level business delegation, to participate in two business meetings, including a Business Forum in Pretoria, preceded by a meeting of the South Africa-India CEOs ...
Food processing sector constitutes 13% of Indias factory employment
Source: PIB, Government of India Food Processing Industry is one of the major employment intensive segments constituting 13.04 per cent of employment generated in all Registered Factory sector in 2012-13. According to the latest Annual Survey of Industries (ASI) for 2012-13, the total number of persons engaged in registered food processing sector is 16.89 lakh. Employment in registered food processing sector has been increasing annually at an average growth of 2.41 per cent during 5 years ending 2012-13. Unregistered food processing sector supports employment to 47.9 lakh workers as per the National Sample Survey Office (NSSO) 67th Round, 2010-11. Ministry of Micro, Small & Medium Enterprises, inter-alia, through National Small Industries Corporation (NSIC), a Public Sector Enterprise of the Ministry, has ...
