Vietnam President invites Indian businesses to invest in his country
The Dollar Business Bureau President of Vietnam, Tran Dai Quang extended invite to business communities in India to invest in Vietnam and said that his country offers conducive environment and sustainable development. “India continues to be among Vietnam’s top ten trading partners as the bilateral trade turnover has increased 16% per annum on average in the past decade,” the Vietnamese President said while addressing a business meeting jointly organised by ASSOCHAM, CII and FICCI in New Delhi on Saturday. “India has given priority to Vietnam in development cooperation and education and training, and paid attention to promoting bilateral cooperation in science and technology, information and communication, energy, oil and gas, agriculture and tourism,” he said. “India has actively supported Vietnam in training, capacity building, ...
Russia to expand wheat exports to Asia on higher production
The Dollar Business Bureau Russia, the world’s largest exporter of wheat, is about to expand its market for grain in the fast-growing Asian economies, which normally import their grain requirements from other parts of the world. Russia is poised to grab more share in markets of Indonesia, China and Japan as drought conditions in countries like Australia, Canada and the US are eroding the wheat production. These countries are the dominant exporters of wheat to Asian countries, accounting for around one-third of the global imports. While wheat shipments from Russia were estimated to surpass those of any other nations, very little is usually shipped to Asia, where wheat imports have nearly doubled in last 10 years as rising incomes pushed up demand for ...
US recognises India as major defence partner: US Def Secretary
The Dollar Business Bureau Defence Secretary James Mattis has said that the United States recognises India as a key defence partner partially out of respect for the country’s crucial role in keeping stability in Indian Ocean region. The US is looking for new ways for addressing the new challenges from the maritime security to the rising risks posed with spreading terrorism in the Southeast Asian region, the Defence Secretary said while speaking at the Shangri-La Dialogue. “For example, we recognise India, the most populous democracy in the world, as a major defence partner. We did so in part out of respect for India’s indispensable role in maintaining stability in the Indian Ocean region,” he said. Mattis asked all the nations to come forward to ...
CII inks MoUs with 3 Singapore universities for students training
The Dollar Business Bureau The Confederation of Indian Industry (CII) on Friday signed memorandum of understandings (MoUs) with three universities of Singapore in order to offer training opportunities to the students. The MoUs will allow the Singapore universities and the International Enterprise (IE) Singapore, a government agency promoting foreign trade, to tap into the network of CII of more than 8,000 members for creating international attachment opportunities for students enrolled in the universities. IE Singapore, which is a statutory board under the Trade and Industry Ministry of Singapore, is the lead signatory of MoU and will support these attachment opportunities under the Young Talent Programme for Students. The signatories to the MoUs are National University of Singapore (NSU), Nanyang Technological University (NTU) and Singapore ...
TPP would pressure on China to increase standards: US
Source: PTI The multi-nation Trans-Pacific Partnership (TPP) accounting for 40% of the world economy would put pressure on China to raise its environmental and labour standards, the White House has said. “There's no denying that this does put pressure on China to raise environmental standards, to raise labour standards, and to incorporate the kind of intellectual property protections that are included in the Trans-Pacific Partnership agreement," White House Press Secretary Josh Earnest said. His remarks come a day after 12 countries reached agreement on the Trans-Pacific Partnership following grueling Atlanta negotiations. TPP does put a lot of pressure on China that typically likes to see their own influence inside of Asia, and by raising economic standards in the Asia Pacific, the ...
Export of soybean meal drops 72% in August
The Dollar Business Bureau Export of soybean meal from India declined to 769 tonnes in August, 2015 as compared to 2,778 tonnes in the same month last year, recording a decrease of 72.33%, according to a data released by the Soybean Processors Association of India (SOPA). “On a financial year basis, the export during April'2015 to August'2015 is 35,858 tonnes as compared to 96,201 tonnes in the same period of previous year showing a decrease of 62.73%,” said SOPA in a statement. The country’s total export between April and August, 2015 stood at 35,858 tonnes as against 96,201 tonnes shipped during the corresponding period last year. Since April this year, India has exported approximately 36,000 MT of soybean meal, with Middle-East ...
Expansion of Eurasian Economic Union a new opportunity for India
The Dollar Business Bureau The Prime Minister, Shri Narendra Modi meeting the President, Shri Pranab Mukherjee on the occasion of his ceremonial departure for the State Visit to Sweden and Belarus, at Rashtrapati Bhavan, in New Delhi on May 31, 2015. Source: PIB. Government of India. The expansion of Eurasian Economic Union (EEU) has the potential to open new trade avenues for India and other countries in the Southeast Asia. The new economic bloc came into force in January this year, after an agreement between Russia, Belarus, and Kazakhstan. Later, Armenia joined the forum, while Kyrgyzstan is in the process of becoming a member of this group. Strategic and trade analysts say that the new forum could be an effort ...
Indian air cargo industry to grow at 5.5%, says study
The Dollar Business Bureau The total market opportunity in the Indian air cargo sector is expected touch 2.8 million tonnes by 2018, increasing at a compounded annual growth rate of 5.5%, a study said. In 2014, the market size was 2.26 million tonnes. Experts said that the industry will maintain the growth path for at least the next five years. According to analysts, one of the major reasons behind the growth of the air cargo industry has been the relaxation of the FDI (foreign direct investment) limit by the government. The present government is willing to attract foreign investment and that has proved to be a major boost for the industry. “Allowing 100% FDI in existing airports and under ...
