Search Result for : Investment

The Dollar Business Bureau The Cabinet on Wednesday permitted the membership of India for the European Bank for Reconstruction and Development (EBRD), a step that will help the country in obtaining funds in various sectors such as manufacturing and services.  “The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved India's Membership for European Bank for Reconstruction & Development (EBRD),” said an official statement. “Necessary steps will be initiated by the Department of Economic Affairs, Ministry of Finance to acquire the membership of the EBRD,” it added. The membership of the multilateral institution will enhance the scope of cooperation between EBRD and India through opportunities for co-funding in various sectors such as manufacturing, services, energy and information technology (IT).  With EBRD membership, India’s investment opportunities would ...

The Dollar Business Bureau With the aim to continue fiscal reforms in West Bengal, the Central Government on Tuesday signed a $300 million loan agreement with the Asian Development Bank (ADB) for improving the quality of public service delivery in the state.  “The Second West Bengal Development Finance Program aims to further enhance the public investment by cutting down unproductive expenditure, and through savings from efficiencies in the collection of revenue,” said an official statement. This Program will build on previous intervention under the first phase of the project through $400 million Program that is aimed at targeting a comprehensive fiscal consolidation program in West Bengal.  Sameer Kumar Khare, Joint Secretary, Department of Economic Affairs, Ministry of Finance signed the loan on behalf of ...

The Dollar Business Bureau  External Affairs Minister Sushma Swaraj said on Tuesday that there is a need to enhance trade, investment and commerce with the extreme eastern parts of Russia or Russian Far East in order to achieve the $30 billion target, set for bilateral trade between the two countries, by 2025.  “The Russian Far East is one of the richest regions in the world and India is among the fastest growing large economies of the world. There is lot that can be done together. When other markets are closing, we need to find new ones and create virtuous cycles of investment. Investment is in the ultimate analysis an act of faith,” Sushma said, while speaking at the India-Russia Business Dialogue at the Eastern Economic Forum ...

The Dollar Business Bureau Bike maker Royal Enfield began its commercial production in its third plant in India at the industrial estate of Vallam Vadgal, near Chennai. This facility near Chennai spanning over 50 acres, is the third one in Tamilnadu for the company. The bikes manufactured in this unit will cater to the domestic and international markets, a company press release said. With this the total production capacity of all the 3 plants in India could reach 8.25 lakh units in FY18 the release added. In FY 17 Royal Enfield manufactured and sold 6,67,135 motorcycles, nearing its installed capacity. According to the release, in 2017-18 the company has earmarked Rs 800 crore as investment for capacity expansion at Vallam Vadgal, new products and ...

The Dollar Business Bureau Japan on Thursday laid strong emphasis on varied avenues of the bilateral trade between India and Japan. “The two Prime Ministers resolved to transform the Japan-India Special Strategic and Global Partnership into a deep, broad-based and action-oriented one reflecting a broad convergence of their long-term political, economic and strategic goals,” said Masayuki Taga, Consul General of Japan in Kolkata. “This has indicated a broad convergence of long standing economic, political and strategic objectives between the two nations,” Taga said while addressing a session, organised by the Calcutta Chamber of Commerce. The Diplomat said that this is evident that the relations between Japan and India have significantly improved and strengthened in almost all the fields. Due to this, Japan has now ...

The Dollar Business Bureau Railway Minister Suresh Prabhu on Saturday said that the Government is working to transform the Indian railways to become a real growth engine for the economy, while stressing that it was a complex task to manage the largest public transport network.The Minister further said a lot of people provide advice on the functioning and managing of railways. “Some say, why are you not making a profit out of the railways. Another person will complain of charges. Somebody will ask why is the food not as good as the food we get in five-star hotels and at the same time, the next person will ask why are you charging Rs. 100 for a meal,” said Prabhu, while speaking at a function ...

The Dollar Business Bureau (sourced from PIB) European Union (EU) and India on Friday announced the establishment of an Investment Facilitation Mechanism (IFM) for EU Investments in India. The mechanism will allow for a close coordination between the EU and the Government of India with an aim to promote and facilitate investments from the EU in India. This agreement builds on the Joint Statement of the 13th EU-India Summit held in Brussels in March 2016, where the EU had welcomed India's readiness to establish such a mechanism and leaders from both sides had reaffirmed their shared commitment to oppose protectionism and to work in favour of a fair, transparent and rule-based trade and investment environment. As part of the IFM, the EU Delegation to ...

The Dollar Business Bureau  India and Latin America organised a business networking seminar on Thursday in Mumbai in order to boost trade and investment between the two regions.  The International Conclave on India-Latin America & Caribbean Partnership: Opportunities to Promote Trade and Investment was jointly organised by the Group of Latin America and Caribbean countries (GRULAC) in India, the All India Association of Industries (AIAI) and World Trade Centre Mumbai.  The conclave, which was organised for the first time in the commercial hub of Mumbai, was attended by nearly 40 Heads of Missions, overseas experts, investment and trade promotion agencies from LAC, and senior government officials from India and LAC.  Trade between India and LAC is expected to reach $100 billion from the current $46 ...