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India, US aim
to boost economic cooperation
تهدف الهند والولايات المتحدة لرفع التعاون الاقتصادي
Economic cooperation was a
major topic during the recent visit of President Bush to India,
with the United States agreeing to an ambitious three-year
target for doubling trade. The optimism is based on the growing
interest among American businesses in India's vibrant economy.
The head of the financial services company JP Morgan Chase,
William Harrison, co-chairs a forum of 20 major American and
Indian companies that is outlining a plan to boost commercial
collaboration. Harrison says U.S.-based multinationals see India
as an important destination as it catches up with the other
booming economy in the region. The US Department of Commerce
plans to create a licence exception for items that would
otherwise require an export licence to end-users in India
engaged solely in civilian activities. The two countries have
also decided to expand cooperation in agriculture. Bush also
indicated that the US might expand the number of H1B visas for
Indian scientists, engineers and physicists.
Government
clears 38 FDI proposals
توافق حكومة الهند على 38 اقتراح خاص بالاستثمارات الأجنبية
المباشرة
Cargill Holdings BV's US$ 50
million investment plan for starting commodities trading in
India was among the 38 FDI proposals totalling US$ 81 million
cleared by government. Following recommendations of Foreign
Investment Promotion Board, Finance Minister also approved
French insurer AXA's proposal to bring in its share of capital
worth Rs 245.5 million in the life insurance venture with
telecom major Bharti. Pilkington Italy of UK has got the green
signal to set up a wholly-owned subsidiary in Andhra Pradesh for
an initial investment of Rs 580 million to manufacture
automotive glass products in India.
Aircel to
invest US$ 500 million in India
شركة أيرسيل المحدودة الماليزية ستستثمر المبلغ قدره 500 مليون
دولار أمريكي في الهند
Aircel Ltd, a unit of
Malaysia's Maxis Communications Bhd, will invest about US$ 500
million in the next three years to expand coverage in India.
The significant investments are necessary to make Aircel a
pan-India player.
Areva T&D to
invest US$ 59 million in power sector
شركة أريفا تي أند دي الفرنسية ستستثمر المبلغ قدره 59 مليون دولار
أمريكي في قطاع الطاقة
French energy major Areva T&D
plans to invest around US$ 59 million in the country's
transmission and distribution sector over the next three years.
The company is also looking at ramping up exports from the
country. "India is emerging as the high growth market for Areva
T&D. We are looking at expanding beyond our eight facilities
currently operational here... and plan to invest around 50
million in the Indian market over the next three years or so," a
member of Areva's Executive Committee and the Chairman and CEO
of Areva T&D, Philippe Guillemot, told Business Line. Talking
about the growing significance of India, Guillemot said the Asia
region currently represented nearly 22 per cent of Areva T&D's
annual worldwide sales of 3.2 million, with India accounting for
around 9-10 per cent of overall sales. He said the Indian power
sector, which has been registering growth of around 20 per cent,
presented an important opportunity to the company to step on its
ongoing product development plans in India.
Eisai to
invest US$ 43 million in India
شركة آيسيه اليابانية ستستثمر المبلغ قدره 43 مليون دولار أمريكي
في الهند
Eisai, Japan's fourth-largest
drugmaker, will spend at least US$ 43 million to start producing
drugs and chemical compounds in India, company president Haruo
Naito said. Eisai, maker of the Aricept Alzheimer's disease
medicine said it expects profit to almost double in six years by
introducing new products and boosting sales of Aricept and its
Aciphex ulcer treatment.
Bosch to
invest US$ 225 million in India
شركة بوتش الألمانية ستستثمر225 مليون دولار أمريكي في الهند
Motor Industries Company Ltd,
a subsidiary of the German auto ancillary giant Bosch said Bosch
is keen on enhancing its presence in India and planning an
investment of close to US$ 225 million in the country. Bosch,
which had a growth-oriented view of India, plans to invest close
to Rs 2 billion in the Bangalore plant and close to Rs 6 billion
in Nasik in addition to investments in Bosch's other units.
Indian
Textiles Industry
صناعة المنسوجات الهندية
India accounts for 22 per cent
of the world installed capacity of spindles and is one of the
largest exporters of yarns in international market. The industry
contributes about 25 per cent share in the world trade of cotton
yarn. Indian textile industry contributes about 22 per cent to
the world spindleage and about 6 per cent to the world rotor
capacity installed. It has second highest spindleage in the
world. Indian textile has the highest loomage (including
handlooms) in the world and contributes about 61 per cent to the
world loomage. In terms of high-tech shuttleless looms, the
contribution is only about 2.8 per cent to the world loomage. It
contributes about 12 per cent to the world production of textile
fibres and yarns (including jute). It is the largest producer of
jute, second largest producer of silk, third largest producer of
cotton and cellulosic fibre/yarn and fifth largest producer of
synthetic fibres/yarns.
'India can
become a manufacturing hub'
وزير المالية الهندي:الهند يُمكن أَن تصبح
محور الصناعة
India can become a
manufacturing hub, provided it replicates its success in
Information Technology sector in other areas. Delivering the
valedictory address at the centenary celebrations of Corporation
Bank in Mangalore, Finance Minister said major industries are
making a beeline to set up their manufacturing units in the
country and added "India will become a manufacturing hub." India
can become a leader in areas such as steel, textiles,
automobiles and petrochemicals, he said. Manufacturing sector,
which requires capital and investments for growth, can be funded
from banks and through budget. There has been an investment boom
in the country in the last two years.
Investor
wealth skyrockets by US$ 25 billion
ترتفع ثروة مستثمر لغاية 25 بليون دولار أمريكي
Finance Minister’s fifth
Budget has raised investor wealth by US$ 25 billion in just a
fortnight after its presentation. The rise is close to double of
what last year's Budget had done for investors in the same
period. Investors had gained Rs 583.91 billion two weeks after
the Budget for 2005-06 was presented. The comparable figure for
2004 was Rs 270.86 billion. The stock market also displayed its
third consecutive post-Budget gains, with the Sensex rising 3.81
per cent, or 394.92 points, to close at an all-time high of
10,765.16 on Saturday. The increases in the same period in 2005
and 2004 was 139.87 points and 229.50 points, respectively.
ABB to set up
2 more units
شركة أيه بي بي الأمريكية تشكل وحدتين جديدتين
ABB, the US$ 22 billion global
leader in power and automation technologies, has announced the
setting up of two new manufacturing plants in India which will
involve a total investment of close to US$ 22.5 million. The
units, which are being set up at Hardwar and Nashik, will focus
on low-voltage distribution electricals and vacuum interrupters,
respectively. Both the units are expected to be operational
early next year. ABB also announced that it intends to increase
the strength of its global R&D centre in Bangalore to 500 from
the current 350. This is part of the 3-year $100 million
expansion plan announced by ABB in India starting November 2004.
US firm to set
up US$ 100 million unit in Gujarat
تبدأ شركة الولايات المتحدة مشروعا للمبلغ قدره 100 مليون دولار
أمريكي في ولاية غوجرات في الهند
Officials of an American firm
Ms Cohler Inc-USA is planning to set up a US$ 100 million
project in Bharuch district of the state. The $100 million
project which will manufacture kitchen-bath vitrified products
and will come up in Jagadiya industrial estate of the district.
During the meeting with chief minister, the company's
Asia-Pacific president Derrick Tay said that this project will
be the company's biggest project in Asia and will employ about
4,000 people in Gujarat.
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India, US seal
nuclear deal
توقيع الاتفاقية النووية بين الهند والولايات المتحدة
India and the US crossed a
major milestone in civil nuclear cooperation after the Prime
Minister, Dr Manmohan Singh, and the visiting US President,
George Bush, reached an understanding on the implementation of
the July 18, 2005 agreement on this issue. Bush, in his remarks,
said, "We concluded an historic agreement on nuclear power. It's
not an easy job for the Prime Minister to achieve this
agreement, I understand. It's not easy for the American
President to achieve this agreement. But it's a necessary
agreement. It's one that will help both our peoples."
US to
intensify energy initiatives with India
اشتدت الولايات المتّحدة مبادرات الطاقة مَع الهند
US President George W Bush
underlined the need to intensify initiatives with India in
pursuit of renewable or alternate sources of energy to take the
pressure off crude oil whose prices are soaring. "We are looking
forward to working with India in an advanced energy initiative,"
Bush said in a statement announcing an agreement between the two
countries on civilian nuclear power cooperation. In a joint
statement issued by the leaders of both countries, the US has
agreed on India's participation in FutureGen, an international
public-private partnership to develop new, commercially viable
technology for a clean coal near-zero emission power project.
India will contribute funding to the project and participate in
the Government Steering Committee of this initiative. Under a
proposal for creation of an Asia Pacific Partnership on Clean
Development and Climate, India and the US have agreed to work
together with other countries in the region to pursue
sustainable development and meet increased energy needs while
addressing concerns of energy security and climate change.
Commercial exploitation of gas hydrates is expected to start in
2015-2020. In the area of oil and gas, the two countries have
decided to work together in not just commercial exploitation of
gas hydrates but also hydrogen, clean coal technology, coal bed
methane as also treatment of residues from refineries and
production and storage of hydrocarbons.
Adobe to
invest US$ 200 million in India over 5 years
ستستثمر شركة الأدوبي 200 مليون دولار أمريكي في
الهند على مدى 5 سنوات
The US$ 2 billion Adobe
Systems is bullish on India. In his first visit to India after
the global takeover of US$ 3.4 billion Macromedia in December
'05, Bruce Chizen, CEO of Adobe Systems announced a slew of new
initiatives for India. The company would be investing over $
200m in the country over the next five years and will ramp up
its India headcount to 900, up from the current 650, by the end
of the year. India already accounts for 12% of Adobe’s total
global employee strength, and almost a fourth of its global
engineering strength. Adobe Systems was one of the first global
software majors to realise India’s R&D potential when it set
shop in India in 1998. India is the second largest R&D centre
after the US for Adobe Systems.
Saint Gobain to invest US$ 22.5
million
ستستثمر شركة غوبين القدّيس 22.5 مليون دولار أمريكي
Saint Gobain Glass India will
invest US$ 22.5 million by October for launching new glass
solutions for the automotive sector. The company has already
invested Rs 14 billion for its second glass complex in
Sriperumbudur over the last five years. "With these investments,
the total production capacity would scale up to 1,500 tonnes of
glass per day," R Subramanian, national manager (marketing and
sales), Saint Gobain said in Mumbai. The glass industry is
growing at 10 to 12 per cent and last year the growth had been
14 per cent, he added.
More Indian
firms in super growth club
مزيد من الشركات الهندية تلتحق بنادي النمو الممتاز
More than a third of India
Inc, or almost 34 per cent, have achieved a super growth status
in the past year. Not just that, India and Hong Kong could soon
be challenging the US for the top slot in the number of super
growth companies in the world. According to the Super Growth
Index 2006, part of international management firm Grand
Thornton’s International Business Owners Survey, the US has
topped the charts for the second year in a row. But this masks
the fact that the number of super growth companies in the US has
actually fallen from 48 per cent in 2005 to 39 per cent in 2006.
While Hong Kong saw a steady increase from 12 per cent in 2004
to 28 per cent in 2005 and 34 per cent in 2006, India reported a
rise from 21 per cent in 2004 and 2005 to 34 per cent in 2006.
But what exactly is a super growth company? The report says a
company, which has grown considerably compared with average
firms measured against key indicators, including turnover and
employment, is called a super growth company.
Exports may
touch US$ 97 billion in 2005
تصل صادرات الهند 97 بليون دولار أمريكي عام 2005م
India is inching towards the
US$ 100 billion milestone in merchandise exports. Going by
current trends, exports during 2005-06 would be around US$ 97
billion — moving in line with the long-term target of doubling
India's share in world exports in five years. Therefore, the
$100-billion mark would definitely be crossed during 2006-07. If
exports during March surpass expectations by a few billions, the
coveted milestone would be touched this fiscal. In the case of
merchandise imports, India raced past the $100-billion post
during 2004-05. Trade data released indicate that exports grew
by 26.3per cent during April 2005-February 2006, touching $88.7
billion. With another $8 billion of exports expected in March
2005, the final tally for 2005-06 is expected to be around $97
billion.
Indian economic growth
rate to top China's
سيتجاوز معدل النمو الاقتصادي الهندي النمو الاقتصادي الصيني بحلول
2013م
A private study sees India
surpassing China's economic growth rate by 2013, and Brazil will
do likewise by 2023. The PricewaterhouseCoopers analysis, known
as 'The World in 2050' and written by John Hawksworth, said
China`s one-child law will cause its population to age, while
the number of Indians between the ages of 15 and 59 will not
decline during the first half of this century, the Bombay Daily
News and Analysis reported. Hawksworth assumes that gross
domestic product growth stems from growth in physical capital
stock, growth in the labor force, growth in quality of labor or
human capital and technological progress.
India to
attract US$ 855 million FDI in telecom manufacturing
ستجتذب الهند الاستثمار الأجنبي المباشر قدره 855 مليون دولار
أمريكي
في صناعة الاتصالاتِ
India, one of the fastest
growing countries in telecom manufacturing in the world, will
attract another US$ 855 million as foreign investment over the
next two years, while rolling out 125 million handsets each
year, according to a leading global electronics company. The
rising demand for telecommunications, especially in mobile
telecommunications, has attracted close to $ 800 million in
foreign investment into India in 2005 and the sector is expected
to attract close to $ 855 million in the next two years. More
importantly, it likely to have a springboard effect providing a
boost to industries along the supply chain -- including the semi
conductor industry, electronics industry, ancillaries and
components -- leading to the development of a feasible
electronic manufacturing eco system.
US developers
to put in over US$ 1 billion in India
سيستثمر المطوّرون الأمريكيون 1 بليون دولار أمريكي في الهند
A
fresh investment of US$ 1 billion is heading the India way —
this time from US developers. The investment expected to come in
three tranches of US$ 350 million, US$ 750 million and US$ 50
million — all this year. The first tranche is likely to be
closed by April. Mark J Reidy, a Washington-based attorney of
the US law firm Andrews & Kurth, who is putting the funds
together, said large American corporations, construction
companies and real estate developers are investing in the fund.
Sources close to the development indicated that a major San
Francisco-based developer is coming into the country through the
fund with plans for developing tech parks on its own. The tech
parks are proposed to be set up in the southern cities of
Chennai, Hyderabad and Bangalore. As for the northern
destinations, the fund managers are looking at Rajasthan and
Punjab, besides Gurgaon and Noida in Delhi. These will include
biotech parks, IT parks and research and development (R&D)
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