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Embassy
of India, Riyadh |
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Issue 3 ♦ January 2005 |
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India Biz News |
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- A snapshot of India’s economic scene |
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WB pegs growth at 6.5% despite tsunami NEW DELHI: The World Bank said on Monday it would
"more or less" stick to its forecast of 6.5 per cent growth rate for
Indian economy despite the damage suffered by the country in Tsunami tragedy.
India's New Product Patent Regime Comes in
Force NEW DELHI, Jan 3 Asia Pulse - In line
with its WTO obligations, India adopted Saturday the product patent regime
for food, drugs and chemicals and embedded software with adequate safeguards
to protect the interests of the common man. The government introduced the
product patent regime by amending the Patent Act by way of ordinance on
December 26 and notifying rules on December 28. India, Brazil and China are among the few
countries which have advanced their deadline to meet their Trade Related
Intellectual Property Rights commitments. TRIPS agreement on public health
provides for invoking compulsory licensing to countries to address any health
Least developed countries like Bangladesh have time till 2010 to effect product
patents. With the Act coming into
effect, the process of grant of product patents will get rolling as the
government begins opening up of 'mail box' applications. Open Invitation: Foreign carriers flock
to India NEW DELHI, DEC 29: In a major boost to the
civil aviation sector, the Cabinet on Wednesday allowed domestic private
airlines to operate on international routes, except to Gulf countries. The
Cabinet has also approved the civil aviation ministry’s proposals for
strengthening Air-India and Indian Airlines, including improving operational
synergy between the two carriers. The Cabinet has, however, stipulated that
only those private scheduled carriers which have “a minimum of five years
continuous experience and 20 aircraft in their fleet would be allowed to
operate to foreign destinations. The carriers would also have to meet a minimum mileage coverage. India's software market shining New Delhi-December 14: India’s share in the world
software and services market has increased to 2.4% in 2003-04. In 2002-03 it
accounted for 2.09%. In 2001-02 it was just 1.82%. In 2003-04 the total value
of software and services export grew at 30.5% clocking revenues of $12.5
billion. In rupee terms it was Rs 55,500 crore, an increase of 20.4% over the previous year.
Despite industry efforts to diversify into other markets, government data
indicates that North America which accounts for over 55% of the global IT spend, was the destination of approximately 70% of Indian
software exports during 2003-04. The
European Union was second on the list at 22.25% of the total export. North
America remains the dominant market for ITES-BPO services, accounting for
over 80% of the business. According
to latest government figures, IT and electronics exports stood at Rs 63,200 crore in 2003-04
registering a growth of 22%. Hardware
exports grew by 37.5 % to reach the Rs 7,700 crore mark. And software and
services accounted for Rs 55,500 crore exports. Thus the share of IT in the total Indian
exports is 21.3%, accounting for 2.64% of the GDP. It is projected to grow to
7% of GDP and 35% of exports by 2008. Ratan Tata is Forbes’ ‘Businessman of the Year’ in Asia Mumbai- January 3: Tata
group chief Ratan Tata,
who is responsible for the phenomenal growth of the Tata
group in the past decade, has been named as Forbes’ Asian ‘Businessman of the
Year 2004’. Tata, 67, succeeded illustrious J.R.D. Tata as the group head in 1991. “His (Tata’s)
$14.3 billion family conglomerate is a picture of what was and is India Inc,”
Forbes said in its recent issue. Crediting Tata
with modernising perhaps one of the most respected
business houses of India, the magazine said Ratan Tata has spent the past decade more than doubling the
revenue of the corporate giant while diversifying into modern business, where
technology combined with cheap labour can make for
a potent competitor. Apart from steel, automobiles, tea, chemicals and
hotels, the group has major presence in telecom and software now. |
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Dual citizenship open to all NRIs |
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MUMBAI-January 7: Prime Minister Manmohan
Singh while inaugurating the 'Pravasi Bharatiya Divas' announced dual citizenship to all
Indians who migrated after Jan 26, 1950 as long as their home countries allow
dual citizenship under their local laws, and said details will be worked out
soon. Some 2,000 overseas Indians are
taking part in the three-day conference. The announcement is seen as a major
improvement on the previous government's decision to grant dual citizenship
to overseas Indians in select developed countries. "I do hope that a day
will come when every single overseas Indian who wishes to secure Indian
citizenship will actually be able to do so," the prime minister said. FDI in aviation raised to 49% The government has hiked the Foreign Direct
Investment (FDI) cap for domestic airlines from the existing level of 40 to
49 per cent through the automatic route but has however barred foreign
airlines from picking up direct or indirect equity. The Cabinet has also
approved 100 per cent FDI in domestic airlines by NRIs
and overseas corporate bodies (OCBs) through the
automatic route. FDI investments in the domestic airlines need not go through
the Foreign Investment Promotion Board (FIPB). Earlier, the ceilings on FDI
in respect of air transport services (domestic airlines) stood at 40 per cent
with prior government approval of FIPB. 100 per cent NRI/OCB was earlier
allowed with prior government approval. Exports surge despite pressure from rising Re New Delhi- December 29:
It was a year of revival for Indian exports. Though exports started
the year with 8.7 per cent growth in January, a steady rise of over 20 per
cent was maintained for the rest of the year. During March, exports jumped to
a record 42 per cent. The surge resulted in the government reworking export
targets and targeting to double India's percentage share (from 0.7 per cent)
in global merchandise trade by 2009. The earlier target was 1 per cent of
global trade, to be achieved by 2008-09. It wasn't just exports. Even imports
grew at a healthy pace, partly due to high international crude prices pushing
up the trade deficit. Economists believe healthy import growth also indicates
a high level of manufacturing activity in the economy, a part of which finds
its way into the export market. The government, too, helped push up exports
at the beginning of the year by changing the data collection mechanism.
Exports grew rapidly amidst the rupee appreciating at the beginning and at
the close of the year. Exporters also had to contend with the pressure of
high fuel prices in the second half of 2004. The trends observed in the
current year are expected to continue in 2005 as well. The export of
textiles, the largest item in India's basket, is projected to grow by 25-30
per cent next year after the end of trade quotas from January 1. FDI flow grows by 26.83% in H1 Mumbai- January 1: Foreign Direct investments
(FDI) into India rose by 26.83 per cent to $2.04 billion in the first half of
current fiscal ending September, 2004, as against $1.61 billion in
April-September, 2003. The FDI rose by $1.27 billion in July-September, 2004,
(Q2) as against April-June quarter (Q1) at $0.77 billion, RBI said. The total net capital flows for the first
half of FY-05, showed a 12.77 per cent fall at $10.08 billion when compared
to flows of $11.56 billion in April-September, 2003, RBI said. The net
capital flows include FDI, portfolio investment, external assistance, ECBs, NRI deposits, and other banking capital and short
term credits, it added. IOC catches global bug, to invest $1bn in Iran gas project New Delhi: It’s a lot of gas but it’s
rock solid. Indian Oil Corporation (IOC) will invest $1bn or more in a
project to develop gas in Iran’s South Pars field, convert it into liquefied
natural gas and ship it to India. IOC will lay its hands on 9m tonnes of LNG annually. Ennore,
off Chennai, is a possible location for a new LNG terminal to receive these
imports. This would be IOC’s first upstream venture abroad. IOC will take an
upstream company along as a partner for their E&P and LNG projects in
Iran. The two projects — gas exploration and LNG — are estimated to involve a
total investment of $5.7bn. IOC will have a 40% stake in the exploration
block while the balance will be held by Petropars.
In the second project, the LNG liquefaction facility, IOC plans to have a 60%
stake. Since Iran does not have provisions for oil equity, IOC will sign a
service contract, which will give it an assured rate of return. Normally,
this works out to almost 15% RoR but at today’s
Libor rates, the ROR works out to 12%. IOC will get to buy a minimum 4.5m tonnes of LNG. For the balance 4.5m tonnes,
it will be given the first option for marketing. |
Ministry of External Affairs : http://meaindia.nic.in/
Ministry of Finance: http://finmin.nic.in
Ministry of Commerce and
Industry:http://commin.nic.in
Confederation of Indian
Industry (CII) : www.ciionline.org
Federation of Indian
Chambers of Commerce & Industry (FICCI) : www.ficci.com
India Trade Promotion
Organisation (ITPO) : www.indiatradepromotion.org
Trade-India.com : www.trade-india.com /
Indian Exporters : www.indianexporters.com
Exporters India : www.indiamarkets.com
/ India Mart : www.indiamart.com
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Trade Fairs in India: Calendar of Events
- 2004-2005 |
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Fair |
Products |
Organizer |
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International Garment Fair Pragati Maidan, New Delhi January 23-25, 2005 |
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International Garment Fair
Association NBCC Tower (First Floor), 15 Bhikaji Cama Place, New Delhi –
110 066 Tel. : 91-11-26187630, 26169393/9394 Fax: 91-11-26106683, 26188584/8300 E-Mail:hoadepd@vsnl.com Web:
http://www.indiaapparelfair.com |
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Print Pack India' 2005 Pragati Maidan, New Delhi January 18-23, 2005 |
Machines & equipment for sheet and web offset, flexo,
rotogravure, silk screen & label printing; DTP, CTP, Plate making
systems, Paper cutting, book block making, case & book bind, foiling,
die-cutting, crea-sing, slitting & rewinding
machines, Corrugating, rotary cutting, card-board printing & box
stitching machines etc. |
India Trade Promotion Organisation and Indian Printing Packaging and
Allied Machinery Manufacturing Association (IPAMA) Mr. Amrit Singh, DGM India Trade Promotion Organisation (ITPO) Tel. : 91-11-2337-1582, Fax: 91-11-2337-1459 E-Mail:as@itpo.online.com |
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Chennai Trade Centre 31 January - 4 February,2005 |
Finished leather, Shoes; Shoe components
- uppers, soles, heels, counters, lasts; Leather garments; Fashion
accessories; Leather goods-travel ware, belts, gloves, portfolios, hand bags
and wallets; Saddlery and harness; Machinery and
equipment for leather tanning, shoe making , dryers, stitching & sewing
machines; finishing leather chemical, effluent treatment, and
Consultancy services.. |
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India Stone Mart 2005- 3rd International Stone Industry Exhibition, Jaipur (Rajasthan) January 28- February 1, 2005 |
Manufacturers & suppliers of
stone-related machineries & equipment, stone - related tools, consumables
material handling equipment ,allied quarrying/ mining equipment; Testing
& Standardisation organizations; Consultancy
organizations; stone quarry owners and Processors. |
Federation of Indian Chambers of
Commerce and Industry( FICCI) and Centre for Development of Stones
(CDOS) Website: www.cdos-india.com |
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16th International Engineering &
Technology Fair (IETF) 2005 9-12 February 2005 New Delhi |
A biennial showcase of
all that is current and also all that the world can expect from India, providing unique
opportunities for networking with the who's who of government and business in
India. |
Confederation of Indian Industry
(CII) Trade Fair Department, 249 F Sector 18, Phase 4 Gurgaon – 122 015 (Haryana) Tel : +91 124 25014060 / Fax : +91 124 25014080 |
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Tex-Styles India 2005 Pragati Maidan, New Delhi February 26- March 1,2005 |
Home furnishing , fabrics, fibres, yarn, accessories, CAD / |
India Trade
Promotion Organisation – ITPO Tel : +91 11
23318143 Fax : +91 11
23371874 |
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AAHAR - International Food Fair, Pragati
Maidan, New Delhi March 04-08, 2005 |
Processed foods, processing, packing and refrigeration machinery,
agricultural products, hotel, restaurant equipment and supplies |
India Trade Promotion Organisation |
Recent Queries by Indian Businessmen
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SL. No |
ADDRESS |
TEL. |
FAX/E.MAIL |
PARTICULARS OF QUERIES |
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01 |
Ronak Overseas Co. PO Box: 33, Baroda |
0091-265-2438444 |
0091-265-2432681 E-mail: info@ronakoverseas.com
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Manufactures and exporters of ophthalmic linses, texties, medical, sucgical, building materials, food grain consumer items
etc. |
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02 |
Shri. Ramalingam |
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E-mail: ramaling@md2.vsnl.net.in |
Seeking contact details of Saudi companies offering Idustrial, management training |
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03 |
Mr. Mirza Alim
Baig, Phd (Eco), Research and Information System for the Non- Aligned and
other Developing Countries (RIS(, Zone IVB, 4th
Floor, India Habitat Centre, New Delhi |
0091-11-24682177/78/79/80* 36 |
00966-1-24682173/74 E-mail: mabaig@rus.org.in
/ mabaig76@yahoo.com Web: www.ris.org.in
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Seeking information and materials of study on “including
investment in the Framework of Free Trade Agreement between Indian and GCC
countries” |
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04 |
Mr. Atish Bihani, Ekkalayva Infosys. Pune |
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E-mail: atishbihani@eklavya.com
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Seeking list of hotels in Dammam
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05 |
Shri. R.K. Razdan |
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Exploring opportunities for export and services in the
instrumentation of processing industries in Saudi Arabia |
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06 |
Mr. Hemant Shekhawat, Export Assistant Golden Surgemed Ltd. 101/102 Valiankanni Towers, ‘A’Wing, Mari Nagar, Off senapati Bapat marg, Mahim (W) Mumbai 400016 |
0091-22-24459116/17/18 |
00966-22-4459119 E-mail: alves@bom3.vsnl.net.in
Web: www.alvesgroup.com
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Exporters of medical goods |
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07 |
Mr. Kanti Lal
BBenx Exports, |
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E-mail: bbenex@bbenex.com
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Exporters of orthopaedic implants. Medical equipments |
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08 |
Mr. Ragavendran C.E.O, Shree Agro International |
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E-mail: raga_dpi@yahoo.com
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Exorters of ground nut and
ground nut oil |
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09 |
Mr. Varsh Berlia,
Director Beri Mecurio
Ltd. 12, Khetan Bhavan,
198 Jamshadji Tata Road, Chaurchgate, Mumbai 400020 |
0091-22-30222333 |
0091-22-30222444/30222555 E-mail: varsha@glberlia.com
/ mertal@glberlia.com Web: www.berimercurio.com
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Seeking contact address of Basic Chemical Industries |
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10 |
Mr. B.Veera Swamy, Betterdeal Macheneries
Pvt. Ltd. U67, Udyog Vihar,
Phase IV, Gurgoeon |
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009111-51655650 |
001-11-26965762 E-mail: betterdealmachinery@yahoo.co.in |
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11 |
Shri R.N. Meshram, Suptdg. Mineral Economist
for Controller General, Ministy of Coal &
Mines, India Bureau of Mines, Indira Bhava, Civil Lines, Nagpur 440001 |
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0091-712-2565471/2565073/2564934 E-mail: cme_ibn@ibm.mah.nic.in
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Seeking information on iron ore industry in Saudi Arabia
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12 |
Micro Labs Ltd. India Bangalore |
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E-mail: meetsubu@rediffmail.com
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Interested in setting up of pharmaceutical firm in Saudi Arabia |
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13 |
Mr. Rohin A. Shah, Jashnin Enterprises, 516, Rasta Peth, Pune |
0091-20-26127581/26113788 |
E-mail: jashbin@vsnl.net
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Exporeters of pharmaceutical
machinery, chemicals, scientific instruments, hospital furniture etc. |
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14 |
Ms. Namrata Vivrekar, Asst. Director Indo Overseas Chamber of Commerce &
Industry 609, Chetak Centre, 12/2, R.N.T. Marg, Indore- 452001 |
0091-731-2526840/ 2526841 |
0091-731-2524111 E-mail: iocci@vsnl.net
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Seeking information on importers of decorative stones,
tiles, sand stones etc. |
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15 |
Mr. Jyantilal & Sons Mumbai |
0091-22-28122343 |
E-mail: daksha_12@hotmail.com
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Exporters of pharmaceutical formulations, bulk drugs,
surgical disposables, surgical dressings, hospital equip. and furniture |
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16 |
Mr. Venugopal Kompella, Executive Exports Shri Exports, Flat No. 102, Balaji Resdency, Block II, Maruthi Nagr, AS Rao Nagar, ECIL Post, Hyderabad 500062 |
009140-55286244 |
E-mail: shri_exports@rediffmail.com
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Exporters if cashew nut |
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17 |
Mr. Sanjeev, Krishan Exports, A-88, 3rd flroor, East
of Kailash, New Delhi 110065 |
0091-11-51612125/51612845/26920151 |
0091-11-51612845 E-mail: krishnaexports@touchtelindia.net
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Exporters of table linen, kitchen linen, bed linen etc. |
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18 |
Mr. Atish Bihani, Ekklavya Infosys |
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E-mail: atishbihani@eklavya.com |
Seeking list of hotels in Dammam
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19 |
Shri Nitin
Mahajan, Sr. Project Manager, Tata Economic Consultancy
Services, Orient House, Adi Marzban Path, Mumbai 400001 |
0091-22-56388585 |
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