‘Bilateral trade with Canada may touch $15 billion by 2015’

Source: Press Trust of India via Indian Economic Business News

India’s bilateral trade with Canada is expected to grow to USD 15 billion by 2015 from the present USD 5.8 billion, Canadian Consul General Richard Bale said recently. “Currently the bi-lateral trade stands at 5.8 billion dollars and is expected to grow to USD 15 billion by 2015. Currently there are 700 Canadian companies in India,” Bale said at a conference on Renewable Energy. During the India visit of Canadian Prime Minister last November, both the Prime Ministers set an ambitious target to conclude a Comprehensive Economic Partnership Agreement (CEPA) by the end of the year that would boost the Indian and Canadian economics by USD 6 billion and result in a significant increase in bilateral trade, Bale said. We believe that by combining Canadian technology and expertise with Indian talent, Canadian and Indian manufacturers can develop and deliver advanced and competitive products and services for India, Canada and third country markets, he said. The government of Canada has committed USD 13.8 million over five years to establish Canada-India Research Centre of Excellence. The Centre will fund greater collaboration between Indian and Canadian researchers and is expected to be operational by year-end, Bale added. Canadian investments in science and technology currently amount to USD 12 billion per year and have created one of the strongest science and technology bases in the world, he said.

Harper Government continues to deepen Canada-India Partnership

Source: Department of Foreign Affairs and International Trade via Indian Economic Business News

On May 17th, The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, and the Honourable Bal Gosal, Minister of State (Sport), met with members of the Indo-Canadian business community in Brampton, Ontario, to highlight the benefits for small and medium-sized enterprises (SMEs) of an ambitious Canada-India comprehensive economic partnership agreement (CEPA). The event’s hosts were the Indo- Canada Chamber of Commerce and the Brampton Board of Trade. “With SMEs accounting for more than 99 percent of companies in Canada, our government understands the crucial role that these businesses play in generating jobs, growth and prosperity in every region of our country,” said Minister Fast. “That’s why we continue to work hard to open new markets for our exporters in the largest, most dynamic and fastest-growing economies in the world, including India.” Further fuelling Canada’s growing trade with India are our strong people- to-people ties,” said Minister Gosal. “Nearly one million Canadians of Indian descent enrich our communities in cities and towns across Canada, and our government is committed to utilizing these strong links to build a partnership that will lead to new opportunities and new sources of prosperity in both countries.”

Canada lures Indian Entrepreneurs with New ‘Startup Visa’

Source: Silicon India via Indian Economic Business News

The Canadian government has launched attractive schemes and provisions, to lure potential Indian entrepreneurs who are struggling to get their green cards or trying to extend their H- 1B visas in the United States, as per a report by Business Insider. Mr. Jason Kenney, Canada’s Minister of Citizenship, Immigration and Multiculturalism, has been aggressively campaigning to promote their governments move on offering startup entrepreneurs a new visa. The new “startup visa” was launched by the government in April. It will grant immediate permanent residency and a subsequent path to citizenship to those qualifying entrepreneurs, who can start a business in Canada and have attracted investments for their start-up ventures, and raise enough capital funds and angel investors.

In a first for India, Gujarat plans 5-yr export policy

Source: Economic Times via Indian Economic Business News

Gujarat, which accounts for about a quarter of India’s total exports, is mulling a five-year export policy to focus on value-added exports in sectors such as textiles, agriculture and dairy. The move by the top exporting state in the country comes on the back of sagging efforts by the centre to boost dwindling exports. The first state in the country to have an export policy, Gujarat plans to increase the share of exports from the state from 25% to 30% in five years. As a precursor to the policy, the Federation of Indian Exports Organization undertook a study for Gujarat on the state’s export competitiveness and identified sectors with export potential. “We are working on improving exports from the state and will take steps to increase the share to 35% of total India’s exports by 2020,” said a state government official. The government may announce incentives ranging from exemption from value-added tax (VAT) in some sectors to focus market scheme and focus product scheme to offset high freight cost and other externalities to select international markets and promote products with high-export intensity. Given that over 90% of Gujarat cotton goes to other states for value addition, emphasis would be laid on readymade garments. The state already has potential in the textile sector, as nearly 23% of the state gross domestic product comes from textile and related industries.

Goods and services tax to be in place by 2014: Prime Minister

Source: Times of India via Indian Economic Business News

Prime Minister Manmohan Singh said recently that the much-awaited goods and services tax (GST) will become a reality by 2014 regardless of who forms the government after the next Lok Sabha elections, even as he counseled the foreign investors to come to terms with problems that India poses as an investment destination. Mr. Singh was responding to Hiromasa Yonekura, Chairman of Japan India Business Leadership Form, who told the PM that differences in tax regimes of each state and the complicated tax structure were big obstacles for investments in India. While saying that it was India’s objective to move towards a goods and services tax, the PM said: “But India is a federation and in federation there are difficulties of getting all the states to agree and surrender their tax power in favour of the GST. But I am confident that we will overcome that hurdle.” He also suggested that the opposition to GST was for political reasons which will melt once the 2014 elections are out of the way. However, Singh tempered his pitch for Japanese investments by advising potential business partners to adjust to Indian reality. He sympathized with the demand of Japanese and other foreign bankers that they be allowed to open more branches in metropolitan centres.

Pakistani TV smashes taboos with its answer to ‘Glee’

Source: NDTV

Lahore: Gay romance, Islamic extremism and a soundtrack of classic love songs make for Pakistan’s taboo-breaking answer to the hugely successful US television series ‘Glee’.

Like its smash hit forerunner, ‘Taan’ follows the lives and loves of a group of young people who regularly burst into song. But this time they attend a music academy in Lahore, instead of an American high school.

Taan — which is a musical note in Urdu — tackles subjects considered off limits in Pakistan’s deeply conservative Muslim society, with plotlines including love affairs between two men and between a Taliban extremist and a beautiful Christian girl.

The plan is for the 26-episode series to air in September or October, and while producer Nabeel Sarwar insisted the programme was not a “political pulpit”, he is determined to take on the tough issues.

“Nobody wants to have controversy for the sake of controversy, nobody wants to have an assignment to violence, nobody wants to push a button that would result in a disaster for anyone,” he told AFP.

“But the truth has to come out somewhere. Where are we going to put a line in the sand and say, ‘Look, this is what we are’?”

Taking a public stand to defend liberal values like this is rare in Pakistan, where forces of religious conservatism have risen steadily in recent years.

Risque scenes in foreign films are routinely cut by the authorities and the team behind Taan are acutely aware that they must tread carefully with their challenging material.

In one scene the two gay lovers dance and sing in a small room but never embrace — their relationship is suggested rather than overtly shown. The moment is interrupted when a radical Islamist character bursts in.

Director Samar Raza said representing the lives of gay characters was difficult in a country where homosexuality is still illegal.

“Let’s say in a certain scene, there are two boys talking to each other, they are not allowed to show their physical attachment to each other,” he said.

“So I bring a third character who says: ‘God designed Adam and Eve, not Adam and Steve’.”

It is not only the sensibilities of the censors the producers must navigate.

While 70 percent of Pakistan’s population is under 35, a huge and potentially lucrative audience for advertisers, it is the head of the household who decides what families watch on TV, explains Sarwar.

“The head of the household during the day is the matriarch and the head of the household at night is the patriarch — they control access to TV,” he told AFP.

“You have to find programming that allows the matriarch and the patriarch to join in and participate, but there has to be room for the younger audience.”

In a bid to appeal to older viewers the makers of Taan have licensed around 100 classic Pakistani songs, some by legendary artists such as Nusrat Fateh Ali Khan, and have reworked them to suit modern tastes, as Glee does.

“We try to find music that resonates with the older generation which control the access to the TV but we contemporise that music so that the younger audience does not feel left out,” Sarwar said.

The show hopes that by taking on difficult issues in a light-hearted way it will both reflect the changing nature of Pakistani society and attract a young audience currently hooked on imported Turkish soap operas.

Local dramas struggle to compete with the likes of “Manahil and Khalil” and “Ishq-e-Mamnu” (Forbidden Love) — Turkish serials starring Westernised characters with fair skin and dubbed into Urdu.

Turkish soaps are widely watched across the Muslim world, but the popularity of “Ishq-e-Mamnu” has prompted a lively debate about the “Turkish invasion” of the small screen in Pakistan, with local production companies complaining that they do not have the resources to rival them.

Yasmin Huq, one of the stars of Taan, told AFP a homegrown show could speak more clearly to Pakistanis than foreign imports.

“Today’s generation is watching Turkish and Indian dramas,” she said. “But no one can make a musical story like Pakistanis. Even if you watch the Turkish and Indian dramas, you will see that nobody can talk about Pakistan like Pakistanis.”

Contraceptive use rises in rural areas of Gujarat

Source: Times of India

AHMEDABAD: Premila Bhabor of Panchmuva village in Panchamahal is a mother of five. After giving birth to a daughter and a son, she wanted another son. “What if the first one does not survive,” was her concern. But that did not happen and she conceived three girls after that. The family lives in extreme poverty. Premila and her husband did not use contraceptives though a health worker had explained how they worked.

This is one story among the hundreds in rural Gujarat where the knowledge of contraception has reached but the message hasn’t yet been conveyed.

May 28 is observed as the International Day for Action on Women’s Health and the theme set by Women’s Global Network for Reproductive Rights (WGNRR) for this year is ‘Access to Contraceptives is a HumanRight’. In rural Gujarat, while the infant mortality rate and the maternal mortality rate have improved over the years, the use of contraception – both temporary and permanent – is still limited.

However, the awareness of contraceptives is on the rise with an increase in its users, from 65% to 67%. “Non-reversible methods of contraception are preferred to reversible methods with female sterilization being the most prevalent form at 41.5%,” says Smita Bajpai, project coordinator, Chetna.

As for the vast number of those who reject contraceptives, Bajpai says: “The primary reason for refusing is the desire for having a male child and the nagging fear that one child might not survive.” To tackle this, a project was launched in 2006 which saw several state NGOs and the department of health and family welfare collaborate to bring about a change in the health statusof women in these areas. This project mobilized couples by counseling them on permanent and temporary methods of contraception provided by the public health system. Individual as well as joint counseling was done to provide complete information about various methods and the couples then chose the method of their choice.

Reports from 17 districts of Gujarat indicated that a total of 1,833 women accepted the temporary method of spacing children – intra uterine contraceptive device or IUCD. A total of 2,955 women accepted permanent sterilization. Interestingly, the state policy provides more compensation to men, but the report indicates only 129 men accepted this method during 2008-13. Men still find it difficult to accept this method as they confuse it with the concept of masculinity, the findings say.

“Women are overburdened with work. There is no one to look after the children at home and health facilities are far off, making it difficult to seek help,” Bajpai says. “Most families in these areas migrate for livelihoods. To track them and to ensure that they receive services at the places they migrate to is a major challenge in these areas.”

Soybean Crop in India Seen at Record as Rally Spurs Planting

Source: Bloomberg

Soybean farmers in India, Asia’s biggest shipper of the animal feed extracted from the oilseed, may boost planting this year as prices head for a fifth straight year of gains, potentially lifting output to a record.

Area under the oilseed may climb 5 percent to 7 percent from 10.7 million hectares (26.4 million acres) in 2012, Rajesh Agrawal, a spokesman for the Soybean Processors Association of India, said by phone from Indore. The harvest was an all-time high 12.6 million metric tons last year, he said.

Soybean futures in India have rallied every year since 2009, almost doubling in the period, as demand for the animal feedincreased from buyers in Iran, Japan and Southeast Asia. A bigger harvest may boost shipments and accelerate a decline in Chicago soybean-meal futures, which have fallen 20 percent since climbing to an all-time high in September. It may also cut cooking-oil imports by the world’s second-largest buyer.

“Area may increase in Maharashtra and Madhya Pradesh,” said Agrawal, referring to the country’s biggest growing states. “Planting should be encouraging this year because farmers have got good returns in soybeans compared with cotton.”

Soybeans have climbed 19 percent in Mumbai this year, more than the 6.1 percent gain for cotton. The area under cotton may drop this year after the weakest monsoon rains in three years deepened a water shortage in the main growing regions, showed a Bloomberg survey published April 8. Sowing begins with the onset of the monsoon in June and the crops are harvested from October.

Normal Rains

The monsoon, which brings more than 70 percent of India’s rain, was 8 percent below average last year, according to the India Meteorological Department. That’s reduced water available to irrigate crops in Maharashtra, Gujarat and Karnataka states.

Drought in some parts of Maharashtra, the second-biggest grower of soybeans and sugar cane, may not hurt planting and yields this year, Agrawal said. Madhya Pradesh accounts for almost 60 percent of India’s soybean harvest.

“Soybean needs three to four inches of rain for planting to take place and subsequently doesn’t require as much water as probably sugar cane,” he said. “If rains are normal, then we need not worry about soybean output.”

Rains will be normal this year at 98 percent of a 50-year average of 89 centimeters (35 inches) in the four months through September, the weather bureau said on April 26.

Soybean meal exports from India fell 11 percent to 3.4 million tons in 2012-2013 as farmers held back their produce in the early part of the harvesting season, the Solvent Extractors’ Association of India said. Shipments may cross 4 million tons in the year ending Sept. 30, Agrawal said.

Cutting Imports

The meal for delivery in July gained 0.9 percent to $432.10 per 2,000 pounds on the ChicagoBoard of Trade at 3:35 p.m. Mumbai time. Futures reached an all-time high of $541.80 Sept. 4. Soybean futures rose 0.7 percent to $14.8675 a bushel in Chicago today, while they advanced 0.3 percent to 3,811 rupees ($68) per 100 kilograms in Mumbai.

“A good soybean harvest will also reduce imports of vegetable oil in the country,” Agrawal said. “Output of other edible oils such as peanut and rapeseed will need to grow as well to have a bigger impact on imports.”

Cooking oil imports by the South Asian nation, the biggest consumer after China, jumped 12 percent to 5.3 million tons in the six months through April, according to the extractors’ association. India buys palm oil from Indonesia and Malaysia, and soybean oil from Brazil andArgentina.

“We are importing a huge amount of edible oil,” said Vijay Data, president of the extractors’ association. “There is good demand in the market and prices are very good, so farmers will definitely plant more.”

After lingerie mannequin ban, Mumbai politicians want ban on lingerie ads too

Source: NDTV

Mumbai: Are mannequins, which display lingerie, as harmless as they look? Or are they silently promoting the surge of sex crimes?

If politicians in Mumbai are to be believed, it is the latter. And such is the potential “danger” posed by lingerie mannequins, the general body of 227 corporators of the Brihanmumbai Municipal Corporation (BMC) unanimously decided it was best to ban the ladies in plastic.

“Lingerie mannequins promote rapes. Skimpily clad mannequins can pollute young minds. After the Delhi rape case, I felt something had to be done,” explained Ritu Tawade, the BJP corporator who mooted the proposal.

Though the municipal commissioner is still to approve the proposal which was passed on May 16, when asked if lingerie advertisements on TV, in newspapers and on billboards should also be banned, Tawade agreed.

Dumbfounded Mumbaikars however, thought the initiative was ridiculous.

“Sex crimes are committed by people who have a twisted mentality and basically if they want to be, if you like, sexually aroused, all they have to do is switch on the net. It’s all over the net. What are they talking about? It is really absurd. That is why I think ‘Big Moron Corporation’ is a good title for BMC,” Ad Guru Alyque Padamsee said.

Block blasphemous material on social media: Pak court

Source: Times of India

ISLAMABAD: A Pakistani court on Tuesday directed authorities to take immediate steps to block “blasphemous material” on social media websites and sought a detailed response within 20 days.

A division bench of the Peshawar high court headed by Chief Justice Dost Muhammad issued the order in response to a petition filed by a lawyer named Arif Khan.

The judges said authorities should takeimmediate measures to block blasphemous and disputed material on social media websites.

The Chief Justice observed that anti-Islam material on social media websites incite religious sentiments and “cause chaos in society”.

They also issued notices to officials of the interior ministry, Pakistan Telecommunication Authority and other departments, seeking detailed replies on the issue within 20 days.

It could not immediately be ascertained which websites the judgeswanted the authorities to act against.

YouTube, the popular video sharing website, has been banned in Pakistan since last year over the hosting of clips of an anti-Islam movie.

Four Indian warships on overseas deployment

Source: Times of India

NEW DELHI: India has dispatched four warships, including a frontline destroyer and a stealth frigate, on a long overseas deployment through the strategic Malacca Strait to Malaysia,Vietnam and Philippines.

The four warships from the country’s Eastern Fleet — stealth frigate INS Satpura, guided-missile destroyer INS Ranvijay, missile corvette INS Kirch and fleet tanker INS Shakti – will make port calls at Klang in Malaysia, Da Nang in Vietnam and Manila in Philippines before returning to India towards end-June. Eastern Fleet commander Rear Admiral P Ajit Kumar is leading the flotilla.

“Constructive engagement is our principle weapon during peacetime. The idea is to enhance security and stability in the entire Indian Ocean Region (IOR) by engaging with regional and extra-regional maritime powers,” said a senior officer.

India, of course, is also building strong maritime security bridges with countries like Japan and Vietnam in a bid to counter China’s “string of pearls” maritime construct in the IOR.

Incidentally, Prime Minister Manmohan Singh, who is currently inTokyo, said on Tuesday that India shares with Japan a strong strategic interest in expanding cooperation on maritime security and promoting regional stability.

India views Japan as a “natural and indispensable partner” in the quest for stability and peace in Asia. Ensuring sea lanes remain open and free is vital for the region’s prosperity, given its dependence on oil imports from the Middle East, he added.

India feels its central location in the Indian Ocean, astride major commercial routes and energy lifelines like the Malacca Strait, makes it a major stakeholder in the region’s security and stability.

Just last week, while laying the foundation stone of the Indian National Defence University, the PM had held that India was “situated at the strategic crossroads of Asia and astride one of the busiest sea lanes of the world”.

While exuding confidence about India’s growing military might, Singh said, “We have also deepened political, economic and strategic relationships in the Asia Pacific, Indian Ocean and West Asian regions.”

“We have also sought to assume our responsibility for stability in the IOR. We are well positioned, therefore, to become a net provider of security in our immediate region and beyond,” he added.

Heatwave continues, over 500 dead since April

Source: Times of India

NEW DELHI: Heat wave conditions, which have seen over 500 people losing their lives since April due to heatstroke, continued across India on Tuesday, an official said.

According to the department of disaster management, 524 people have died of sunstroke since April 1 across the country. However, unofficial sources have put the toll at over 600 during last four days itself.

After a cloudy and windy on Monday, it was back to being scorching hot in the capital on Tuesday as the maximum temperature settled three notches above average at 43 degrees celsius. The Met office has forecast similar weather Wednesday.

“The heat wave will continue tomorrow (Wednesday) the skies will be sunny,” an official of the India Meteorological Department (IMD) said.

The maximum and minimum temperatures are likely to hover around 43 and 28 degrees respectively. Tuesday’s minimum temperature was 29 degrees celsius, two notches above average for this time of the season.

Monday’s maximum temperature in Delhi was 42.6 degrees celsius, two notches above average, while the minimum settled at 30.2 degrees celsius, three notches above average.

Heat wave conditions continued to prevail in the desert state of Rajasthan with the mercury Tuesday hovering between 40 to 45 degrees celsius.

Churu at 45.2 degrees celsius was the hottest in the state and Sri Ganganagar was also close at 44.4 degrees celsius.

State capital Jaipur was scorching at 41.9 degrees and the minimum temperature was at 32.4 degrees celsius, almost five degrees above normal. Bikaner was also hot at 41.9 degrees celsius.

The heat wave continued to roast Uttar Pradesh Tuesday with the mercury soaring to 45 degrees celsius in some parts of the state

Most people stayed indoors as humidity and long hours of power outages and cuts added to people’s woes.

Etawah remained the hottest place in Uttar Pradesh at 46.2 degrees celsius, four degrees above the normal temperature for this time of the season. Banda recorded 45.2 degrees celsius, Hamirpur 45.2 degrees, Agra 43.3 degrees, and Allahabad 45.5 degrees, making these the hottest cities in the state.

The temperature in Lucknow hovered around 44 degrees celsius, a meteorological department official told IANS.

There was no likelihood of any respite from the heat nor any chances of rain in Uttar Pradesh, the official added.

Rainfall in parts of Andhra Pradesh provided much-needed relief to people from the intense heat that has kept the southern plateau sizzling for weeks and claimed over 500 lives across the country.

Several parts of Srikakulam district in north coastal Andhra Pradesh and some parts of East Godavari, West Godavari, Guntur and other districts of south coastal Andhra received rains on Tuesday.

The sky remained cloudy in most parts of Telangana and Rayalaseema regions, officials said. Rains or thundershowers are likely in a few places in the state during the next 24 hours.

India Antiterror Agency Probes Maoist Ambush That Killed 24

Source: The Wall Street Journal

NEW DELHI—India’s federal antiterror agency will probe a weekend attack blamed on Maoist insurgents in Chhattisgarh state that left two dozen people dead, including local leaders of the ruling Congress party, government officials said Monday.

The government, which earlier had said 28 people were killed in Saturday’s ambush in the state’s Jagdalpur region, revised the toll to 24 on Monday. Some bodies were counted twice initially, one of the officials from the federal home ministry said.

The official said the National Investigation Agency will investigate the attack. The government also will send 2,000 more paramilitary personnel to reinforce the state’s fight against the rebels, he said.

Thousands have been killed in the Maoist insurgency that began in the late 1960s as a peasant uprising.

Prime Minister Manmohan Singh has described the movement as India’s biggest internal security challenge. On Sunday, Mr. Singh indicated the government could intensify its fight against the rebels who are skilled in jungle warfare and equipped with modern weapons.

“We will pursue the perpetrators of this crime with urgency and I can assure the nation that the government is committed to bringing them to justice,” he said in Raipur, the capital of Chhattisgarh. “Those who commit such dastardly crimes are working against the interests of peace and development in the area.”

Chhattisgarh is rich with minerals such as iron ore and bauxite. It is also one of the most-affected by the country’s Maoist insurgency.

The rebels say they are fighting for the rights of tribes and the rural poor who they say have been left out of India’s economic development and have been exploited by companies looking for minerals. According to authorities, the insurgency has crippled economic activity in India’s central and eastern regions including Chhattisgarh, worsening unemployment and poverty.

Saturday’s ambush, in which the suspected insurgents set off a land mine and fired at a convoy of cars carrying Congress workers from a party rally, was one of the most deadly targeting politicians. Among those killed were Chhattisgarh Congress chief Nand Kumar Patel and Mahendra Karma, a party leader who founded the government-backed militia, known as Salwa Judum, to fight Maoist rebels.

Senior Congress party leader and former federal minister Vidya Charan Shukla was among 32 injured. Mr. Shukla, 84 years old, was airlifted to New Delhi Sunday and is undergoing treatment at a hospital near the national capital.

“He is critical, but stable,” said Naresh Trehan, chairman of Medanta Hospital, where Mr. Shukla is being treated.

The rebels are inspired by Chinese revolutionary leader Mao Zedong. They are also called Naxalites because the movement began in Naxalbari, a town in West Bengal state. The insurgency spread in the 1980s to Andhra Pradesh, Maharashtra, Bihar and Madhya Pradesh. Chhattisgarh was later carved out of Madhya Pradesh.

Home ministry data on Maoist attacks and arrests show the insurgency is extending into states such as Karnataka, Punjab, and deeper into Uttar Pradesh.In Karnataka, a southern Indian state, a police officer was killed by Maoists in 2011. Senior insurgent leaders were arrested in Punjab and Delhi, both in the north, between 2009 and 2012.

R.K. Vij, the top police official in charge of Chhattisgarh’s anti-Maoist operations, said the state police had launched a special drive against rebels last month. But, given the vast territory and forests the police need to cover, more forces are required, he said.

According to the home ministry official, the federal government has deployed 81,000 paramilitary personnel to fight Maoists. Nearly 40% of this is in Chhattisgarh, he said.

Government appoints five experts to Air India’s board

Source: ZeeNews

New Delhi: The Central Government has appointed five experts from different fields as part-time Directors on the Air India Board, including IIM-Ahmedabad professor Ravindra H Dholakia, to suggest cost-cutting measures for the national carrier.

Civil Aviation Minister Ajit Singh appointed them to utilise their specialised skills to help Air India achieve the targets set by the government through its Turnaround and Financial Restructuring Plans.

Besides Dholakia, other non-official part-time Directors are Gurucharan Das, Dr. Prem Vrat, Air Marshal (Retd.) K.K. Nohwar, PVSM VM, and Renuka Ramnath.

These persons not only have expertise in their specific fields, but also have served in various reputed organisations at highest levels.

Gurucharan Das is a Graduate with Hon. from Harvard University in Philosophy and has worked as CEO of Procter & Gamble India, besides holding high posts in other organisation. Dr. Prem Vrat is M.Tech. and Ph.D. and is presently working as Vice Chancellor and Professor of eminence, ITM University Gurgaon.

Air Marshal (Retired), K.K. Nohwar, PVSM VM, is a military aviator with more than 40 years of experience in the field of aviation. Dr. Dholakia is Ph.D. in Economics and M.A. with distinction, Gold Medallist in Economics and Eco-Metrics.

He is Professor in Economics and Public System of IIM, Ahmedabad. Renuka Ramnath holds a Bachelor Degree of Engineering and MBA with AMP from Harvard Business School.

She is a founder, Managing Director and CEO of Multiples Alternate Asset Management which manages 400 million dollars of Indian and international capital.

Mr. Sudhir Vyas, Secretary (West) visited Toronto

Source: Indian Economic Business News

Secretary (West) Shri Sudhir Vyas accompanied by Ms. K. Nadini, Dir(AMS) and Dr. Piyush Singh, Under Secretary (AMS), visited Canada during 29-30 April, 2013 for Foreign Office Consultations. The delegation visited Toronto on April 30. A luncheon roundtable was organised by C D Howe Institute and a dinner reception by Canada-India Business Council (C-IBC) and IIT Alumni Association of Canada (IITAC). Secretary addressed the participants at the Institute, comprising mainly of academics, think tanks and universities, on the topic ‘Canada-India Relations: The Untapped Potential’. The reception audience consisted of business representatives and professionals active in India-Canada economic corridor. Speaking at these two events Secretary pinpointed three pillars for Canada and India to build on viz Energy, Food Security and Trade & Economic Co-operation. Secretary had separate meetings with University of Toronto and NASSCOM Canada chapter members.

Alberta oil patch risks losing Indian investment over Ottawa’s mixed messages

Source: Economic Times via Indian Economic Business News

Canada’s mixed messages on foreign investment from state-owned enterprises threaten to spook India’s major energy giants, the country’s top diplomat in Ottawa said recently. Ottawa is contemplating tweaks to the Investment Canada Act that would broaden the definition of state ownership and potentially subject minority purchases of natural gas and oil sands assets to the opaque net-benefit test, according to an analysis by lawyers at Osler Hoskin & Harcourt LLP. The federal government introduced new rules last year after the $15.1-billion purchase by China’s CNOOC Ltd. of Nexen Inc. and the $6-billion acquisition of Progress Energy Resources Corp. by Malaysia’s Petronas. The changes barred state-run companies from majority ownership of oil sands assets or companies. “This would be a departure from what was clarified in Ottawa in December … and will certainly add considerable uncertainty for potential investments,” Nirmal V erma, India’ s High Commissioner to Canada, told an investment conference in Calgary hosted by the Canada-India Business Council.

3 Petroleum Minister announces launch of Direct Benefit Transfer for LPG scheme in 20 districts

Source: Press Information Bureau via Indian Economic Business News

The Government of India is launching Direct Benefit Transfer for LPG (DBTL) scheme in 20 high Aadhaar coverage districts from 1.6.13. The scheme aims to curb leakages and prevent black-marketing and provide subsidy to consumers in their bank accounts. For the benefit of LPG consumers, OMCs have provided the facility on their web-sites to check whether the Aadhaar number has been attached to LPG consumer number/bank account. For the benefit of LPG consumers, who cannot complete formalities by 1.6.13, a grace period of three months is being given to complete the formalities. After this period, all consumers who have not completed the formality will get LPG cylinders at market price, without any subsidy, till they complete the same.

World Bank sees India growing at 6.1% this fiscal

Source: Hindu Business Line via Indian Economic Business News

The World Bank sees India regaining economic momentum and recording 6.1 per cent GDP growth in the current fiscal. Growth is expected to increase further to 6.7 per cent in 2014-15, the World Bank said in its latest India Development Update, a bi-annual report on the Indian economy. The 6.1 per cent growth forecast for 2013-14 is much higher than the five per cent growth estimated for 2012-13. The World Bank’s optimism stems from positive data points in the recent months in the areas of manufacturing, inflation and better export numbers, said Denis Medvedev, Senior Country Economist, World Bank, India. Despite the current downturn, long-term prospects remain bright for India, said Martin Rama, World Bank’s Chief Economist for the South Asia Region.

Government plans a comprehensive system to extend oilfield contracts

Source: Economic Times via Indian Economic Business News

The government is putting in place a comprehensive system to extend oilfield contracts with private and public companies to help field operators such as Cairn India know well in advance if lease for the oilfield they operate will be extended for another term. Oilfields are leased to companies for 15-25 years, but before the lease expires the company needs to know if it will retain the field so that it can decide whether or not it should invest thousands of crores of rupees to produce oil and gas. To facilitate this, the government has constituted an inter-departmental committee to extend petroleum leases in producing blocks such as BG- operated Panna-Mukta and Tapti oilfields, JTI’s Dholka oilfield and Cairn India’s Rajasthan block. The committee will also decide terms and conditions for such extensions, officials said. “The scope of this committee can be extended to include several other exploration- related issues that may include recent proposal of DGH disallowing eight discoveries in the D6 block because of some timeline issues,” one official said. Last year, the government granted 20.5 sq km additional area in the prolific KG basin to Gujarat State Petroleum Corp, as the company’s fields extend beyond its block located near gas discoveries of Reliance Industries and ONGC.

Setting up of new major ports in the states of West Bengal and Andhra Pradesh

Source: Press Information Bureau via Indian Economic Business News

The Cabinet Committee on Economic Affairs (CCEA) on May 9th approved the proposal of the Ministry of Shipping for:

(i) setting up a new major port at Sagar Island in West Bengal through the Public Private Partnership (PPP) mode by following the extant procedures for project appraisal/approval, including obtaining environmental clearances, etc.

(ii) appointing the transaction advisers and legal consultants and initiate the bidding process for award of the project and to finalize the project structure in consultation with the State Government of West Bengal and the Planning Commission,

(iii) commissioning the techno-economic feasibility reports for the new major port at Dugarajapatnam locations, and
(iv) constituting of an Empowered Committee of Secretaries (ECS), to be chaired by Secretary (Shipping) and comprising Secretary, Department of Economic Affairs, Secretary, Planning Commission, Chairman, Railway Board, Secretary, Road Transport and Highways and Secretary, Department of Legal Affairs, to take appropriate decisions in regard to the project structuring, as well as other implementation related issues.

India’s ‘Mr. Incredible’ tries to bring the country up to speed

Source: Economic Times via Indian Economic Business News

India has long been cited as one of the fastest growing economies in the world, but it hasn’t always been the most hospitable place for business travelers. Ranked 132 out of 185 on the World Bank’s Ease of Doing Business Index, the country is often viewed as a hassle by executives. Part of the problem is that India has grown faster than its infrastructure. “Infrastructure that we created for 2020 are already getting filled up by 2012,” says Amitabh Kant, the man who is planning to bring India up to speed by 2017. Kant already revolutionized his country once. The instigator of the “Incredible India” campaign, he polished India’s flagging tourism image and turned it into a must-visit destination for the discerning traveler. Marketing aside, the campaign made sure journeying through the subcontinent was met with relative ease. Roads were repaved, landmarks rebuffed and the sector as a whole was trained to work with foreign guests. Today, the country sees 6.8 million overseas tourists annually. Now he is tackling what may be India’s most ambitious infrastructure project to date. The Delhi-Mumbai Industrial Corridor, a $90 billion state-run enterprise, will involve connecting the 932 mile stretch between Delhi and Mumbai with new ports, airports, highways and rail links. For Kant, though, the real achievement will be the undertaking’s economic knock-on effect.

Asian Television Network to launch Hindi and Bengali Channels

Source: Canada Stockwatch via Indian Economic Business News

Toronto-based Asian Television Network International Ltd. has signed licensing agreements under which it has been granted exclusive rights to the Star Utsav and Star Jalsha channels, both of which are from Star Network-India, a part of Fox International Channels. Star Utsav is a 24-hour Hindi general entertainment channel while Star Jalsha is an Indian Bengali general entertainment channel.

Harper Government tables social security agreement with India

Source: Canada Newswire via Indian Economic Business News

On April 23rd, the Honourable Diane Finley, Minister of Human Resources and Skills Development, tabled in the House of Commons the Social Security Agreement between Canada and India, which will coordinate pension benefits between both countries. “Our government is committed to ensuring retirement security for Canadians, whether here or abroad,” said Minister Finley. “This agreement will reduce the pension contribution costs for Canadian companies sending employees to India and ensure that those same Canadian employees receive the pension benefits they are entitled to for time spent working abroad.” Once in force, this agreement will also make it easier for people who have lived and worked in both India and Canada to qualify for public pension benefits from either, or both, countries. Periods of coverage under the Employees’ Pension Scheme of India may help towards eligibility for Canadian benefits and vice versa. Canada has signed 57 social security agreements; 53 are currently in force. The Social Security Agreement between Canada and India is expected to enter into force in 2014, once both countries have completed their legislative procedures.

CIEC Introduces Major Changes to CARE: Shortened & Inclusive Process, Decreased Fees, Free Application Pre-Screening

The Canada India Education Council has opened Agent Membership (CARE) to education agents, advisors, and counselors. After receiving feedback from education agents, CIEC has introduced significant changes to CARE:

  • Decreased Membership and Application Fees
  • Application Fee
    • Before: $525, Now: $225 (Sign up now and enjoy a FREE Pre-Screening)
  • Membership Fee
    • Before: $1500 – $4500, Now: $999 for a 2-year period
  • Application Fee waived for agents applying between June 1st 2013 – July 1st 2013
  • Membership Decision will be made upon receipt of the Application Form
  • Inclusive Process – Agents will not be tested on their compliance with CARE Standards (Voluntary Code of Ethics)
  • Process shortened from 4 – 6 months to 1 – 2 months
  • CIEC no longer conducting Site Visits or Staff Assessments
  • DFAIT training no longer mandatory
  • CIEC will organize an annual CARE Training Seminar in one or more major Indian cities

It is our hope that a more inclusive process will create a more immediate and widespread change in the student recruitment market. To get started please complete and send the Application Form (click here to download) to [email protected].

Benefits of Agent Membership (CARE) include:

  • Use of CARE logo and goodwill of the ‘CIEC’ brand
  • Display of CARE – Recognized Membership Certificate and Membership Statement
  • A listing in the bi-weekly CIEC online newsletter, ‘Disha,’ besides opportunities for marketing on the CIEC website, newsletter, events and e-mail campaigns distributed to 19 000 education stakeholders in both countries
  • Listed as a recognized CARE agent on CIEC’s website (with a dynamic profile linking to your services) and social networking platforms
  • Use of the CIEC Representative Office in Toronto to establish your presence in Canada. CIEC can also arrange face-to-face interviews at our member institutions
  • Exposure at our annual Synergyblockbuster networking event. Includes a reduced registration fee and for agents arriving from India, free airport pick-up & a one-night free stay at the hotel
  • Greater visibility and recognition by CIEC member colleges and universities as well as governments in both Canada and India
  • Exclusive airport pick-up for your students (for a nominal fee)
  • Access to CIEC webinars, networking and training events
  • Access to Annual Training Seminar in one or more major Indian cities
  • Establish your reputation and promote your business through an advisory position on our ‘Student Discussion’ Facebook group / website forum
  • Personalized assistance & insights in growing your network of reputable Canadian institutions & on-the-ground support

For more information about membership benefits, please visit: http://canadaindiaeducation.com/care/benefits

The much-lauded CARE Initiative is designed to bring transparency to the agent sector in India by promoting the CARE Standards. CARE is supported by CIEC’s member institutions which includes Canadian Colleges & Universities and is poised to soon become the benchmark & establish standards for counselors and agents promoting Canadian education in India. Agent Membership (CARE) will be granted by the CIEC Executive Team in consultation with the impartial Membership Committee, comprised of academic experts representing 3 major Canadian Colleges.

CARE serves as a cost-effective way for education agents to gain exposure, establishing their credentials, and distinguishing themselves in the exciting Canada-India education corridor. Agents wishing to strategically position themselves in an increasingly fierce and competitive international environment are invited to become an CARE Recognized Member of the Canada India Education Council.

To get started please complete and send the Application Form (click here to download) to Gaurav Verma at [email protected].

We look forward to working with you and becoming a trusted partner as you guide students to quality post secondary institutions in Canada.

Regards,

imgHusain                                                imgRoseann

Husain F. Neemuchwala                                      Prof Roseann O’Reilly Runte, President & Vice Chancellor,
CEO – CIEC                                                            Carleton University
                                                                                      Academic Advisor – CIEC

 

India one of the top tourism destinations in Asia

Source: Times of India via Indian Economic Business News

India is one of the top tourism destinations in Asia, according to findings from a CNN global travel survey released recently. The results also position the country as the region’s fourth fastest growing tourism destination and the third most attractive business for investment opportunities, right after China and Hong Kong. One-fifth of CNN’s audience of global travelers considering a visit to Asia Pacific, would consider visiting India in the 12 months and experts say its celebrated culture could be a prime reason. The destination fended off competition from Japan and Thailand to rank as the no. 1 destination in the region with the second richest culture and heritage, with only China scoring more in this category. The study, entitled ‘CNN Consumer Connect – Travel and Tourism 2013’, looks at consumer travel trends, perceptions and behavior, and was hosted on all CNN websites worldwide. It polled more than 3,000 readers based in over 70 countries around the world and included 25 Asia Pacific destinations. Duncan Morris, vice-president of Research at Turner International Asia Pacific, said, “These results are great news for India and the Asia Pacific region as a whole. CNN consumers are discerning, affluent global travelers and they clearly indicate a desire to visit this part of the world to enjoy a particular brand of hospitality, food, culture – everything that makes a travel experience distinctive. At a time where money in the household is perceived to be tighter, spending on travel is still obviously a priority for many.”

Canadian exporters need to find India’s sweet spots

Source: Globe and Mail via Indian Economic Business News

India accounts for less than 1 per cent of Canada’s trade and investment, according to official estimates. Yet, India accounts for 7 per cent of the world economy today. It is expected to rise to 11 per cent by 2030 and to 18 per cent-almost one-fifth-of the world economy by 2060, according to OECD estimates. So how do more Canadian companies actually start taking advantage of opportunities in fast-growth markets such as India? A good starting point is to identify sectors of the Indian economy that land in the “sweet spot” – they are sizable, dynamic, fast-growing, and present relatively few barriers to Canadian businesses. A new Conference Board study, “The Hottest Markets for Canadian Companies in India,” finds many fast-growing, sizable, profitable, dynamic sectors. So the study’s final list of hottest markets includes only those fast-growth sectors that are relatively open to Canadian business. The final list includes eight Indian service sectors, 10 manufacturing sectors, and eight resources or agricultural sectors. In many of these hot markets, Canada has demonstrated international commercial strengths. These industries include: infrastructure and related activities, the auto sector and supply chain, services. The challenges in India are tremendous, but so are the long-term opportunities. India’s growth prospects are far above the meagre rates seen in Canada’s traditional trade partners. With a free-trade deal in the works, and an investor protection agreement negotiated (though on hold on India’s side), Canada has started toward removing barriers for its companies in India.

Parliamentary Secretary Obhrai highlights Strong Relationship between Canada and India

Source: Marketwire via Indian Economic Business News

Deepak Obhrai, Parliamentary Secretary to the Minister of Foreign Affairs, recently addressed the delegates of the inaugural Canada-India Oil and Gas Forum. Parliamentary Secretary Obhrai outlined the government’s aggressive work to reach new markets for Canadian natural resources and advance two-way trade and investment with India. “Canada and India benefit greatly from our mutual economic and cultural ties,” said Parliamentary Secretary Obhrai. “The Government of Canada continues to aggressively pursue agreements that would help fulfil the energy needs of one of the fastest-growing regions in the world.” Canada and India have complementary interests. India is the third-largest consumer of energy in the world and seeks diversification of supply to provide greater energy security and to fuel its dynamic growth. India is looking to Canadian energy exports to help power its transformation into an economic giant. “Increasing Canadian exports to the Asia-Pacific region is vital to Canada’s future prosperity,” said Parliamentary Secretary Obhrai. “Canada’s vast energy resources are essential to the quality of life of Canadians from coast to coast, as they make a vital contribution to Canada’s economy. This is why we will continue to encourage investment and responsible development of those resources.”

Indian IT companies set to be hit as Canada tightens visa norms for foreign workers

Source: Globe and Mail via Indian Economic Business News

Canada has joined the US in tightening the visa regime for foreign workers, a move that could be detrimental for Indian IT service companies with operations in that country. Seen by experts as a ‘knee-jerk’ reaction to the recent controversy surrounding iGate and Canadian bank Royal Bank of Canada (RBC), the move is set to increase the time and costs associated with procuring a temporary work permit. The Accelerated Labour Market Opinion (ALMO) programme, a fast-track immigration programme to secure a temporary work permit in two weeks, has also been suspended. Indian companies will now have to revert to the Labour Market Opinion (LMO), a time-consuming process, compared with H1B visa regime in the US. A LMO is an authorisation that a recruiter has to obtain from the Canadian state, if a job has to be offered to an Indian. Moreover, the employer has to prove that it had advertised for the position across Canada, but was unable to find a qualified Canadian to do the job. The latter is what makes it time-consuming. Moreover, a new fee will be imposed on employers when they apply for an LMO. In addition, the Canadian Government also intends to increase work permit fee from the present $150. However, it has not specified the quantum of the rise. In its third change, Canada has also disallowed a rule allowing companies to pay temporary foreign workers 15 per cent less than prevailing wages for high-skilled positions, and five per cent less for low-skilled ones.

Hilton aims to have 50 hotels in India by 2016

Source: The Times of India via Indian Economic Business News

Hilton accelerated its pace of expansion outside its home market in the US after Christopher J. Nassetta, President and Global CEO, Hilton Worldwide, came on board in 2007, soon after private equity giant Blackstone purchased the chain. At that time, around 85% of Hilton’s pipeline was within the US. It’s changed since. Currently, more than 60% of its pipeline is outside the US. In the last six years, Hilton opened more than 1,100 hotels globally. Hilton entered India through a brand franchise agreement with Oberoi Hotels in 2004. Four years later, it charted out its own growth path, striking franchise and management contracts with Indian property owners. Nassetta said the chain, which currently operates 12 hotels with 2,000 rooms in India, has lined up another 20 hotels with 3,500 rooms which will open doors to guests in the next eight months. “Our target is to have 50 hotels by 2016,” said the Hilton chief, adding that almost all the Hilton brands, except its timeshare brand Hilton Grand Vacations, would dot the Indian skyline. The 94-year-old chain owns 10 brands such as Waldorf Astoria, Embassy Suites and Homewood Suites by Hilton. Of these, only four brands are present in India, operating in the upscale and mid-market space. The company is getting into the luxury segment with the launch of the 250-room Conrad in Bangalore shortly.

India’s gemstones market to double to $3.6 billion in 5 years: Gemfields

Source: Indo Asian News Service via Indian Economic Business News

The coloured gemstones market in India is expected to double to $3.6 billion in the next five years, Gemfields Plc, the world’s leading precious stones miner, said. “$1.8 billion is the total size of the coloured gemstone market in India. We are expecting a growth of 20 percent every year for the next 10 years,” Rupak Sen, Gemfields India regional marketing director- Asia, said. According to Sen, India’s gem and jeweler market was estimated at $30 billion and out of which the market share for all categories of coloured gemstone was almost 6 percent. London-based Gemfields mines mainly emeralds in Zambia, but recently ventured into rubies, processed in Mozambique. The company auctions rough stones in Singapore.

 

India develops cheap vaccine against major cause of diarrhea deaths in children

Source: Toronto Star via Indian Economic Business News

The Indian government announced recently the development of a new low-cost vaccine proven effective against a diarrhea-causing virus that is one of the leading causes of childhood deaths across the developing world. The Indian manufacturer of the new rotavirus vaccine pledged to sell it for $1 a dose, a significant discount from the cost of the current vaccines on the market. That reduced price would make it far easier for poor countries to vaccinate their children against the deadly virus, health experts said.

India, long the home of outsourcing, now wants to make its own Chips

Source: New York Times via Indian Economic Business News

The Government of India, home to many of the world’s leading software outsourcing companies, wants to replicate that success by creating a home grown industry for computer hardware. But unlike software, which requires little infrastructure, building electronics is a far more demanding business. Chip makers need vast quantities of clean water and reliable electricity. Computer and tablet assemblers depend on economies of scale and easy access to cheap parts, which China has spent many years building up. So the Indian government is trying a new approach. In October, it quietly began mandating that at least half of all laptops, computers, tablets and dot-matrix printers procured by government agencies come from domestic sources, according to Dr. Ajay Kumar, Joint Secretary of the Department of Electronics and Information Technology, which devised the policy. At the same time, it is potentially providing as much as $2.75 billion in incentives in front of chip makers to entice them to build India’s first semiconductor manufacturing plant, an important step in building a domestic hardware industry. According to Indian media reports, two consortiums have been in talks with the government to build microprocessor foundries. The first is led by the Jaypee Group, one of India’s largest construction companies, which built the country’s Formula One track in Uttar Pradesh. It has partnered with I.B.M., which will provide the technology. The second bid is from the Hindustan Semiconductor Manufacturing Corporation, an American company that, despite its name, does not manufacture any chips. It has partnered with the Geneva-based chip maker STMicroelectronics. Source: New York Times

India ranks 8 among 27 most powerful nations in world

Source: The Times of India via Indian Economic Business News

India is among the top 10 most powerful countries in the world. In a first-of-its-kind study of “national power” a group of eminent strategic experts and scholars have placed India at the eighth position among a group of 27 most powerful countries in the world. The study, conducted by the New Delhi-based Foundation for National Security Research (FSNR), judged “national power” by various indices, including energy security, population, technological capability etc. An interesting index of national power was judged by “foreign affairs capability”, which includes self-reliance in defence, membership of multilateral groupings, role in global rule-making and soft power. Interestingly, though China comes out as the second most powerful nation in the world after the US, Chinese foreign affairs’ capability is comparable to India’s, even though in terms of total power New Delhi comes way below Beijing. Professor Satish Kumar, introducing the study, said, “The Group of Experts evolved a criterion consisting of the following elements for the selection of countries which could be regarded as actually or potentially the most powerful: (i) Population above 50 million; (ii) GDP above US$ 500 billion; and (iii) defence expenditure above US$ 5 billion.” The effort, he said, was to have an Indian assessment of indices of power. The US is by far the world’s most powerful nation, several notches ahead of its nearest competitor, China.

India says it plans to double renewable energy sources by 2017

Source: Thomson Reuters via Indian Economic Business News

The Indian government recently said it planned to double its renewable energy capacity by 2017. Prime Minister Manmohan Singh said that India would ramp up its use of wind, solar and biomass energies in the coming years. “It is proposed to double the renewable energy capacity in our country from 25,000 MW in 2012 to 55,000 megawatts by the year 2017,” he said at the Fourth Clean Energy Ministerial conference in New Delhi.”We have set ourselves a national target of increasing the efficiency of energy use to bring about a 20 to 25 per cent reduction in the energy intensity of our GDP by 2020.” Mr. Singh said that a low carbon strategy was necessary for sustainable growth. Mr. Singh, however, said these non- conventional sources of energy had reduced in price but were still higher than dirtier, more conventional sources of power, like coal. It will soon be the second-largest contributor to increasing global energy demands, accounting for 18 percent of the growth. Despite intense sunshine throughout the year, India has little solar capacity and much of its solar hardware is manufactured abroad. Mr. Singh said that that needs to change. “India is potentially a large market for production of such (solar) equipment and it is also a potentially competitive, attractive production base for supplying other countries,” he said at the conference.

More reforms coming in 2-4 months: Chidambaram

Source: Indo-Asian News Service via Indian Economic Business News

Finance Minister P. Chidambaram has ruled out the possibility of early elections and said the government will take more reform initiatives in the next two-four months in a bid to boost economic growth and contain deficit and inflationary pressure.“We will continue to take small significant steps. We will also take forward some big ideas. India’s economy will continue to reform,” Mr. Chidambaram said at The Economist’s India Summit organised by the UK-based economic magazine recently. Mr. Chidambaram said the government will push for the passage of major reform regulations, like land and insurance bills, in the ongoing budget session of parliament.The finance minister said the government would need support from the main opposition party to get the bills passed in parliament.“There are many more executive actions that have to be taken, some of these executive actions we will take in the next 2-4months,” Chidambaram said. In the last one year, the government has taken several initiatives to push forward reform process. The steps include cutting subsidies on petroleum products and liberalizing overseas investment norms for retail, aviation and some other sectors. The finance minister said he was hopeful to keep fiscal deficit below 4.8 percent of the gross domestic product (GDP) in the current financial year.

Anand Sharma launches 21 new textiles parks

Source: Press Information Bureau via Indian Economic Business News

Union Minister for Commerce, Industry and Textiles Anand Sharma launched 21 New Textile Parks approved under Scheme for Integrated Textile Parks (SITP). These new parks take the total number to 61 parks as 40 Parks were sanctioned earlier. The Scheme for Integrated Textiles Parks (SITP) has been instrumental in development of wide range of models for green field clusters from a 1000 acre FDI driven integrated cluster, to a 100 acre power loom cluster and a 20 acre handloom cluster. Under the scheme, 61 parks have been sanctioned-40 projects were started in the 11th Five Year Plan and another 21 projects are to be implemented in the 12th Five Year Plan. Out of the 40 parks sanctioned earlier, a total of 25 Parks are already operational. Most of the balance Parks are expected to be completed during this financial year. The estimated employment generation is over 10 lac persons with total estimated investment of Rs. 27, 562 crore. Out of the 21 new parks, six are in Maharashtra, four in Rajasthan, two each in Andhra Pradesh and Tamil Nadu and one each in Uttar Pradesh, West Bengal, Tripura, Karnataka, Gujarat, Himachal Pradesh and Jammu & Kashmir.

Government boosts incentives to give exports a leg-up as growth picks up for 3rd month

Source: Hindustan Times via Indian Economic Business News

The government on April 18th announced a host of measures to boost India’s exports including sops to special economic zones (SEZs). The initiatives announced by Commerce and Industry Minister Anand Sharma as part of the annual supplement to the Foreign Trade Policy (FTP) are aimed at pushing exports which declined by 1.76 per cent to USD 300.6 billion during 2012-13 and pushed up the trade deficit to USD 190.91 billion. These included easier land requirement norms, simpler exit options, cheaper credit and tax breaks for import of machinery. The new rules for SEZs will allow IT firms to claim tax breaks by moving offshore work to such duty-free enclaves. The earlier requirement of minimum 10-hectares for such campuses has been done away with and IT SEZs can now be set up if the these are spread across at least 100,000 square metres in seven major cities including Mumbai, Delhi and NCR, Chennai, Hyderabad, Bangalore, Pune and Kolkata. For category B cities, IT companies can set up SEZs even in a smaller built-up area of 50,000 square metres and for remaining cities in only 25,000 square metres. In view of the acute difficulties in aggregating large tracts of uncultivable land for setting up SEZs, the government also halved the minimum land area requirement to 500 hectares for multi-purpose SEZs and to 50 hectares for sector-specific SEZs. It has also been decided to permit transfer of ownership of SEZ units, including sale of units. Exports in March 2013 stood at $30.8 billion (Rs.1,69,400 crore), compared to $28.8 billion ( Rs. 1,58,400 crore) in the same month of the previous year. Imports dipped by 2.87% to $41.16 billion in March, leaving a trade deficit of $10.31 billion-down from $13.5 billion in March last year.

Economy to grow at 6.4 percent in 2013-14: PM panel

Source: Indo-Asian News Service via Indian Economic Business News

The Indian economy is expected to grow at 6.4 percent in the current fiscal against the estimated 5 percent expansion registered in the previous year, the Prime Minister’s Economic Advisory Panel said. “The economy has bottomed out and we will achieve higher growth of 6.4 percent in the current financial year,” Prime Minister’s Economic Advisory Council chairman C. Rangarajan said recently. He said agriculture sector growth is likely to increase to 3.5 percent 2013-14 as compared to the estimated 1.8 percent growth in the fiscal ended March 31, 2013. The growth of manufacturing sector is likely to increase to 4 percent in the current financial year as compared to 3.1 percent in the previous year. The services sector is estimated to expand by 7.7 percent in 2013-14 as compared to 6.6 percent growth projected for the previous fiscal. Mr. Rangarajan said growth would accelerate further if the government expedites clearance for major projects. “If we take action for speedy implementation of projects we can achieve the higher rate of growth quickly even in the short-term,” he said. According to the panel’s estimate, the country’s main inflation is expected to be at around 6 percent in the current financial year as compared to the estimated 5.96 percent at the end of the financial year 2012-13. Mr. Rangarajan said moderation in inflation would give scope for monetary policy easing by the central bank. The central bank has been maintaining tight monetary policy for the last three years to contain inflation.

Meghalaya government seeks report on Garo Hills rape

Source: Times of India

SHILLONG: The state government has sought a detailed report from the West Garo Hills district administration on an incident of rape of a girl by miscreants from neighbouring Assam in Boldamgre village of the Garo Hills.

Social welfare minister Deborah C Marak convened a meeting with principal secretary (social welfare) PW Ingty and other officials in which they discussed the incident. “We have asked the concerned district administration to submit a report on the unfortunate incident,” Marak told reporters.

The state police have also asked their counterparts in Assam to arrest the absconding accused involved in the case.

“On Sunday morning, over a dozen armed miscreants from the Hat-Singimari region of Assam numbering entered the village and raped an 18-year-old girl in the village, about 12 km from Garobadha town. They also went from house to house attacking people and looting them,” a police spokesperson said.

Reportedly, the girl was attacked by the criminals and she was raped by an unidentified person. The dacoits also took away Rs 7,000 from the house of one Gajang Sangma after assaulting his family members.

Meanwhile, several NGOs, including the North East Network, have condemned the rape.

“It’s shocking that despite evidence of increasing sexual violence against women, the state government has not been able to enforce the anti-rape law strictly. The law puts special onus on the police department to act in cases of atrocities on women,” NEN said.

On the other hand, concern over sexual assaults on minors in Meghalaya is on the rise, with even the state home minister, Roshan Warjri, recently voicing her anguish in the state assembly over atrocities on women perpetuated in random in the state, which, ironically follows a matrilineal system.

Investigation is already underway in the incident of gang rape of a school girl in the Garo Hills a few months ago.