Search Result for : Srilanka

The Dollar Business Bureau Jayant Sinha, the Union minister for Civil Aviation proposed the Ude Desh ka Aam Nagrik (UDAN) scheme that would connect the smaller towns across the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) region. Adding that such a move will be similar on the lines of the Open Sky Agreement that India enjoys with the SAARC countries, he said, "We can sign an MoU with different countries to be able to provide support for an UDAN-type scheme across the BIMSTEC community. Of course, we will have to couple that with something like an Open Sky Agreement so that airlines can fly freely," Sinha told reporters. Under the Open Sky Agreement (OSA), signed in 2016, New ...

The Dollar Business Bureau The Ministry of Commerce had discussions with the officials of the World Bank in Washington, conveying its concerns over the methodology used by the Bank in ranking countries in terms of ease of doing business. The index rates the top economies among 189 countries. The commerce ministry was joined by officials from the Department of Industrial Policy and Promotion (DIPP) in its discussions. DIPP secretary Ramesh Abhishek shared in a tweet that the detailed interaction with the team in Washington DC resulted in creating better awareness about reforms in India. "The Bank team also sensitized on various concerns on methodological and other issues. All departments/agencies made excellent presentations," Abhishek quipped in his tweet. The annual ratings exercise has been a ...

The Dollar Business Bureau  Indian Railways will export to Sri Lanka train sets and modern locomotives worth around Rs.680 crore, in the largest shipment order for the Railways. Rail India Technical and Economic Service (RITES), the export arm of Railways, has got its biggest order from the Sri Lankan Railways for exporting 6 diesel multiple units (DMU) train sets and 10 broad gauge diesel locomotives. The separate locomotive is not required in DMU train sets as the engines are integrated into one or more than one of its coaches. All the train sets and locomotives would be installed with the cutting-edge technology and are manufactured in Chennai and Varanasi, according to a senior official from Railway Ministry. The supply contract ...

PTI India and Sri Lanka will jointly operate the oil storage facility at the strategic eastern port town of Trincomalee, Petroleum Minister Chandima Weerakkody said today. At least 73 of the 99 storage tanks in Trincomalee is to be managed under a new equity arrangement between the two countries, Weerakkody said. To operate the 73 tanks "we will have the joint venture running", Weerakkody said. Sri Lanka will have the ownership of 10 more tanks while another 14 will be handed to India on a long lease, he said. The petroleum minister had presented a Cabinet paper last year for the joint venture and he today said negotiations were still underway on the matter. He said ...

The Dollar Business Bureau The consumer products division of Piramal Enterprises has acquired four brands from Pfizer for Rs.110 crore, namely Ferradol, Neko, Sloan’s and Waterbury’s Compound. The agreement contains the trademark rights for Ferradol and Waterbury’s Compound in Bangladesh and Sri Lanka, the company said in a statement on Friday. The finalisation of the deal is subjected to approval from regulatory authority. Nandini Piramal, Executive Director, Piramal Enterprises said, “Our main aim is to become a prominent player in every business under the healthcare segment of Piramal Enterprises Ltd. “Piramal is one of the largest companies in custom manufacturing and has manufacturing units in Asia, European Union and North America. Our Critical Care vertical is the third largest in ...

The Dollar Business Bureau Increased supplies from countries like Sri Lanka, Kenya and Indonesia and rising input costs for Indian tea industry seem to be taking toll on India’s tea exports which have been witnessing a downfall for the past few months. In September this year, India’s tea exports reduced to $68.79 million, registering a fall of 11.72% as against $77.92 million recorded in the same month last year, the latest government data showed. In August 2015, the shipment of Indian tea saw a marginal growth of 3.57% year-on-year. According to Indian Tea Association (ITA), while the global tea production during Jan-August, 2015 was registered 1,288 Million Kg (MKg), India stood as a leading producer with 705 MKg yield. Though the country’s ...