Search Result for : Look East Policy

In the financial year 2014-15, India-ASEAN trade stood at $76.58 billion, registering average annual growth rate of 12% from $44 billion during 2009-10 The Dollar Business Bureau India is also considering enhancing the ASEAN-India Science and Technology Development Fund from the current $1 million to $5 million in near future   Concerned over a modest pace of trade and investments growth between India and Thailand, Vice President Hamid Ansari on Thursday said the two countries need to encourage private sector investments to enhance bilateral cooperation. The Vice President who is on a three-day visit to Thailand emphasised that the two countries need to synergise their efforts in the areas of economy and business to enhance and diversify trade. The two governments are willing to ...

The Dollar Business Bureau The future for Korean companies is not in Korea, it is in India, both for manufacturing for the domestic market and export. This was stated by Amitabh Kant, Secretary, Department of Industrial Policy and Promotion (DIPP), at a business meeting on ‘Make in India: Contribution of Korean Companies’ held on Friday. The event was jointly organized by the Federation of Indian Chambers of Commerce and Industry (FICCI), Korea International Trade Association (KITA) and the Korean Chamber of Commerce India (Kocham India). The DIPP Secretary urged the Korean companies to invest, set up their manufacturing and research and development (R&D) bases in India. He expressed hope that India will achieve a double-digit growth in the coming ...

Sai Nikesh D | The Dollar Business Improving connectivity in the North-East is expected to play a key role in India's 'Act East' policy   Tripura, which is located in an advantageous position in respect of strategic, diplomatic and economic relations with Bangladesh, is likely to become the gateway for the development of Bangladesh and for the implementation of the ‘Act East’ policy adopted by the Government of India, Nirmala Sitharaman, Minister of Commerce, said yesterday. Speaking at the inauguration of the first “Border Haat” along the Indo-Bangladesh international border at Srinagar, a bordering village in South Tripura, Sitharaman said that the Indian government intended to move for development of Bangladesh through Tripura. Sitharaman added that the government is looking forward ...

Sachin Manawaria | The Dollar Business As per the national policy, Indian Ports are aiming at a surplus capacity of above 25% over the projected demand by 2020 to achieve zero-waiting time for the vessels. Helped by increased investment in the sector and economic growth of India, the capacity at the 13 major ports is expected to increase to around 1,459.5 million tonnes by 2020, which is about two times the current capacity. Meanwhile, the capacity at non-major ports is expected to grow faster to around 1,660 million tonnes, up about seven times from the current levels of around 350 million tonnes. The Ministry of Shipping is targeting investment of Rs. 2.77 lakh crore between 2010 and 2020 ...

The Dollar Business Bureau India has accorded high priority to economic engagements with CLMV countries, and is establishing seamless physical connectivity with the region   The Indian government has said that it will focus on increasing bilateral ties with countries in the CLMV region, comprising Cambodia, Lao PDR, Myanmar, and Vietnam under its “Look East” policy. Speaking at the CLMV Business Conclave, India’s Commerce Minister, Nirmala Sitharaman, said that India’s trade with the CLMV countries is mostly with Vietnam and in a few items and there is a tremendous scope to deepen and widen the trade basket in India’s trade ties with this region. She said, “Currently, 70-80% of India-CLMV trade is centred around only a few products. I think ...

India gets second loan of $1.1 billion for the Eastern Dedicated Freight Corridor (a freight-only rail line) between the north and eastern parts of India The Dollar Business Rail routes in the Golden Quadrilateral connecting Delhi, Mumbai, Chennai and Kolkata, account for 16% of the railway networks route length, but carry over 60% of Indias total rail freight, according to the World Bank   The recently signed $1.1 billion agreement between India and the World Bank towards the second loan for the Eastern Dedicated Freight Corridor (DFC) is expected to boost Indias trade with Bangladesh and other countries across Indias eastern borders. The Eastern Dedicated Freight Corridor is a freight-only rail line and will improve the speed and efficiency, while reducing transport costs in ...

The Dollar Business Bureau Technology is expected to play a major role in India's trade facilitation efforts   The Confederation of Indian Industry (CII) has suggested an action plan to the government to help improve India’s ranking on the World Bank’s Ease of Doing Business index in the coming years. CII says that while the recently released World Bank report on Ease of Doing Business 2015 ranks India at a low of 142 out of the total 189 countries, the rankings were for the year ended May 31, 2014. “The wave of new policy reforms have cascaded post the date,” CII said. Prime Minister Narendra Modi has said that India must stand within the Top 50 countries in the Ease ...

Bidhu Bhushan Palo | @TheDollarBiz Source - APEC   Onlookers are usually rattled when rivals join hands to improve their financial condition because talks on economic partnerships can neither be superficial nor mere diplomacy. And this time, it is Barack Obama, Vladimir Putin and Xi Jinping who have forgotten their differences to meet by the Yanqi Lake in Beijing to take forward the economic partnership among 21 nations on both sides of the Pacific Ocean. Formed 25 years ago in 1989, the influence and the potential of the Asia-Pacific Economic Cooperation (APEC) is huge. In 2010, this group’s total trade stood at around $16.8 trillion ($3 trillion or 18% by China alone), which is more than five times the $3.1 trillion ...