Indias seafood export at all-time high in 2016-17 : MPEDA
The Dollar Business Bureau Riding on a robust demand for its frozen shrimp and frozen fish in international markets, India exported 11,34,948 MT of seafood worth an all time high of $5.78 billion (Rs 37, 870.90 crore) in 2016-17 as against 9,45,892 tons and $4.69 billion dollars a year earlier, with USA and South East Asia continuing to be the major importers while the demand from the European Union (EU) grew substantially during the period. Frozen shrimp maintained its position as the top item of export, accounting for 38.28 per cent in quantity and 64.50 per cent of the total earnings in dollar terms. Shrimp exports increased by 16.21 per cent in terms of quantity and 20.33 per cent in dollar terms. ...
India looking for global investors in infrastructure: LSE CEO
The Dollar Business Bureau With a huge demand for investment in the infrastructure, India is looking for investors globally and London would prove to be natural destination, said Nikhil Rathi, Chief Executive Officer, London Stock Exchange (LSE). “So, India is a fastest growing economy in G-20, growing at 7% a year. There is huge demand for infrastructure investment in India, and it is going global and looking for global investors and London is proving to be natural place for it,” Rathi said. The LSE witnessed the listing of Rs.7,000 crore worth of bonds on Thursday and Friday. India’s Road Transport Minister Nitin Gadkari has launched NHAI bonds worth Rs.5,000 crore on Thursday. Piyush Goyal, Power, Coal and Renewable Energy Minister, has launched the trading of papers on Friday worth Rs.2,000 crore from NTPC ...
India signs deal with Iran to import LPG
The Dollar Business Bureau With the demand rising in the country for cooking fuel, India for the first time signed a deal for importing liquefied petroleum gas (LPG) from Iran. The Government-owned oil companies will import 44,000 tonnes or one very large gas carrier (VLGC), per month initially for a period of six months, according to industry sources. Every month, India has to import around a million tonnes of LPG in order to meet the growing demand which has further been driven by the government initiative to provide free connections of gas to poor women. In 2016-17, consumption of LPG in India increased by 9.8% to 21.55 million tonnes. Out of this, the country had imported 11 million tonnes. India largely imports LPG through term contracts ...
Israel's Dan Hotels to come up in Bengaluru in July
PTI Israel's leading hotel chain, Dan Hotels, is set to venture into India by opening its property in Bengaluru in July, its first overseas facility outside the Middle East. "If all goes well and regulatory requirements are met quickly, the hotel will be operational in July," a senior executive at Dan told PTI. The 230-room luxury hotel is coming up close to Bengaluru's high-tech park and will have easy access to it. "We chose Bengaluru because it presents us with a good opportunity given that so many Israeli tech companies have a presence in the city," the official said, adding that the hotel chain would look to explore further opportunities in other Indian cities in the future. ...
Oman Air looks to tap Indian market for growth
The Dollar Business Bureau Oman’s national airline Oman Air expects to get operational break-even by 2017 end, the company said on Friday. The flagship carrier of Sultanate of Oman currently operates to 11 destinations in India, and is looking at India’s fastest-growing market to boost its growth momentum. "Indian economy is going great as well as its aviation market is among the fastest growing. With the new aviation policy being released by the Indian regime, we do not want to exclude ourselves from financial participation in any opportunity offered. It's not like we will put a blind cheque on the table, but will invest if we find the opportunity sustainable," said Paul Gregorowitsch, chief executive officer of Oman Air. The carrier has been running its ...
Indias engineering exports drop 19% in April
The Dollar Business Bureau India’s engineering exports to major international markets including the UAE, China, and Sri Lanka plunged by 19 percent in April this year, according to Engineering Export Promotion Council (EEPC). In April, overall engineering exports shrank by 6.74 percent to $20.5 billion due to sharp fall in shipments of petroleum and engineering products. The country’s engineering imports also plummeted by 23.1 percent to $25.41 in April this year as against $33 billion during the same month last year. According to the engineering body, India’s engineering exports to Sri Lanka have nosedived around 90 percent to 63 million in April this year as against $648 million in the same month last year. The shipments of engineering goods to ...
Tata Power eyes four regions to expand global presence
The Dollar Business Bureau Tata Power on Monday said that it has identified four key regions to expand its global presence. The company will focus more on its overseas businesses in Africa, South East Asia, Middle East, SAARC (India Region). “We have created four regions- India & SAARC; Southeast Asia; Middle East cum Turkey; and Africa. We have deployed resources in each of these four regions to constantly update ourselves with the dynamics and scout for opportunities,” Said Anil Sardana, CEO & Managing Director, Tata Power. He said the company will invest in the region and in specific projects where it has “all the clearance and are able to mitigate risks to achieve the threshold returns”. “Tata Power continues to ...
