Global News Post: Investment

India Seeks More Market Access to and Investment from China

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<st1:place w:st="on"><st1:city w:st="on"><span style="font-family: "Trebuchet MS";">PHNOM PENH</span></st1:city><span style="font-family: "Trebuchet MS";">, <st1:country-region w:st="on">Cambodia</st1:country-region></span></st1:place><span style="font-family: "Trebuchet MS";"> (NNN-UNI) – Prime Minister Manmohan Singh
today sought greater access for Indian players in the Chinese market in
services, information technology and pharmaceutical sectors to balance the
trade between the two countries.<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS";">During
his meeting with Chinese Premier Wen Jiabao, their 14th in the last eight
years, Dr Singh also wanted Chinese investment in <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region>'s infrastructure which
requires one trillion dollars in the next five years.<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS";">China
is India's largest trade partner but the trade deficit between the two
economies has ballooned to 23 billion dollars in China's favour in October this
year, as India continues to import more than what it exports to the country.<o:p></o:p></span></div>
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<st1:country-region w:st="on"><span style="font-family: "Trebuchet MS";">India</span></st1:country-region><span style="font-family: "Trebuchet MS";"> and <st1:country-region w:st="on"><st1:place w:st="on">China</st1:place></st1:country-region> have set a target of taking
their total trade to 100 billion dollars by 2015. The total bilateral trade
reached a high of 73.90 billion dollars last year but the figure dropped to
55.6 billion in the first 10 months of this year, a drop of eight per cent.<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS";">Briefing
the Indian media accompanying the Prime Minister on his "fruitful and
detailed" meeting with his Chinese counterpart in the Cambodian capital,
Foreign Secretary Ranjan Mathai said Mr Wen told Dr Singh that <st1:country-region w:st="on">China</st1:country-region> is looking for gradually balancing trade and
is cognisant of <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region>'s
interest. --NNN-UNI<o:p></o:p></span></div>
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India Seeks More Market Access to and Investment from China

PHNOM PENH , Cambodia (NNN-UNI) – Prime Minister Manmohan Singh today sought greater access for Indian players in the Chinese market i...

INDIA: God’s Own Land, Kerala State Woos Investors

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<div class="MsoNormal" style="text-align: justify;"><span class="Apple-style-span" style="font-family: 'Trebuchet MS', sans-serif;"><span class="Apple-style-span" style="line-height: 18px;"><br />
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</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">By Saraswathi Muniappan <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">COCHIN, Kerala state, India, (NNN-Bernama) – India’s southern state, Kerala is wooing environment friendly foreign investment in an array of areas to emerge as a strong and vibrant economy and create more job opportunities for its people. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">The state on the Malabar Coast in southwest India is well connected via air-link, sea routes and houses India’s first International Container Transshipment Terminal and excellent data and telecommunications connectivity throughout the state. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">“But, we recognise that such facilities alone will not bring investment and investors. We recognise our weaknesses and limitations in areas where we are yet to realise our full potential,” its chief minister, Oommen Chandy said. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">Hence, Emerging Kerala, which attracted some 2,000 delegates from 50 countries such as the United States, United Kingdom, Japan and other countries, including Malaysia, is part of a process for creating a climate for investment, he said. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">“Our objective is to present to the world about the quality and quantity of business opportunities available in Kerala for investment and the mechanisms and processes that are in place to convert these opportunities into reality.” <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">Emerging Kerala, a three-day event that ended on Friday, is all about deepening and intensifying the already deep global and national connect of Kerala. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">“This is an expression of the collective will of our people to scale greater heights beyond the successes in achieving social goals,” he said. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">Harvard University’s Economic Professor, Gita Gopinath quashed the perception that a social welfare oriented state cannot be successful on the economic front. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">“Scandinavian countries, such Sweden and Norway are great example of how a social welfare focused nations can still rank high as favoured investment destination,” she said. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">Kerala with 93.91 per cent literacy rate has huge educated population and the state should take advantage of that, she said. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">“Kerala needs jobs for its educated and skilled workforce. There is a large group of highly educated people in Kerala who can’t find job in the state,” she said. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">Currently, more than two million Keralites work outside the state, mainly in the Gulf region and contributing 22 per cent to Kerala's Gross Domestic Product via remittance. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">Gita, who is a Keralite herself, said the state should look forward to investments in core sectors such as information technology, tourism, healthcare as well as banking and investment. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">The tourism potential of Kerala is immense and its beach front of 700km provides a unique enclave for international tourist with annual growth of 15 per cent and seven per cent in domestic arrivals, Malaysia’s Special Envoy to India and South Asia for Infrastructure, S. Samy Vellu said. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">“By 2021, three million foreign tourists and 18 million domestic tourists would have patronised Kerala. To propel this growth, eco-friendly investment through Public-Private Partnership must be encouraged,” he said. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">The state, also known for its abundant scenic beauty, earned itself the widely acclaimed name, “God’s Own Land.” <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">Medical and Ayurveda city is another area Kerala should work on, he suggested. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">“Develop an Ayurveda City with state of the art infrastructure with modern hospitals, affordable, “green apartment” and cutting edge research and development centres,” he said. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">The Indian Ayurvedic market size is estimated at Rs80 billion (US$1.45 billion) and it is growing substantially between 10 per cent and 15 per cent with the same growth rate targeted for the next 10 years, said Samy Vellu. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">A slew of financially viable projects in the infrastructure sector were presented namely tplan to make five canals in Kochi navigational and connect it with the road network and the metro rail system. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">Gita also pointed out that the state government should channel its incentives to young entrepreneurs, as they would create job. Older companies, including micro, small and medium enterprises do not create new jobs. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">“The plans and ideas are very good but the most important thing is implementation, and more than that, the acceptance of foreign investors by the locals,” Malaysian-owned SI Property (Kerala) Pvt Ltd managing director, SN Raghuchandran Nair, said. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">Firstly, Keralites should be educated that foreign investment is good for their state. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">“The Kerala state government is committed in development with care and sustainability, but the locals feel that the foreigners will loot their state,” he said. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">It was reported that as the event was set to be inaugurated by Prime Minister Manmohan Singh last Wednesday, numerous organisations gathered in strength to express their disapproval of a move that many fear could “submerge” Kerala. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">People gathered with placards against the programme on the main streets of Kochi. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">Raghuchandran also opined that generally in India there is lack of long-term planning, which needs to be address in order to have sustainable development. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">“Kerala used to have energy surplus but not anymore, we have good rainfall but with the lack of proper rain harvesting planning and infrastructure, we also have water deficit,” he pointed out. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">Chief executive officer of Bangalore-based Krystile Consultancy, Latha Mohandas was also a little skeptical, saying, “Emerging Kerala is very interesting but it depends on the seriousness of the state in going all out for it.” <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">Having attended several such events in other states, she said while they often talk about single window clearance, when, “we take business seriously and go to invest in the respective state, no single window clearance is available,” she said. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">The difficulties in land acquisition are really a hindrance for infrastructure investors in India, said another participant. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">“The difficulties derail projects and developers incur additional cost. It will be good if the government, state or central, comes forward to give some sort of guarantee in land acquisition,” said the participant who requested anonymity. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">He also said Kerala does have its own set of industrial-related and political unrest and “it is a huge problem in this state.” <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">The chief minister in his speech had said that words or ideology alone would not get Kerala either investors or investment and it is no longer time for vain words but for a bold constructive action. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; color: black; font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 9.0pt;">“We hope the Kerala state government would walk their talk on this,” he stressed.--NNN-BERNAMA <o:p></o:p></span></div></div>

INDIA: God’s Own Land, Kerala State Woos Investors

By Saraswathi Muniappan COCHIN, Kerala state, India, (NNN-Bernama) – India’s southern state, Kerala is wooing environment friendly forei...

Tanzania Leads in Direct Foreign Investment in East Africa

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</div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">DAR ES SALAAM (NNN-DAILYNEWS) -- Tanzania has recorded the highest Foreign Direct Investment (FDI) compared to other East African countries.<o:p></o:p></span></div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><br />
</div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><span dir="LTR"></span><span lang="AR-SA" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;"><span dir="LTR"></span> </span><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Organization (ILO) offices in Dar es Salaam on Friday, indicated that Tanzania was leading 47 per cent in FDI compared to Uganda and Kenya which recorded 34 and 14 per cent respectively.</span><span dir="RTL" lang="AR-SA" style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-ascii-font-family: "Trebuchet MS"; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-hansi-font-family: "Trebuchet MS";"><o:p></o:p></span></div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><br />
</div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">The report was launched by the United Nations Resident Coordinator, Mr Alberic Kacou and Executive Director of Tanzania Investment Centre (TIC), Mr Raymond Mbilinyi.<o:p></o:p></span></div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><br />
</div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Commenting on the report, Mr Mbilinyi mentioned tourism, natural resources, gas and oils and service industries like banks, as some of the areas that have continued to attract DFI.<o:p></o:p></span></div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><br />
</div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><span dir="LTR"></span><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;"><span dir="LTR"></span>"As the global economy is on crisis, we have also been affected, still we could have done better than what we did so far," he explained.Mr Mbilinyi also said that the revolutions in the Arab world dubbed the 'Arab Spring' and the country's power crisis affected the general trend of investment in Tanzania.<o:p></o:p></span></div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><br />
</div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">The challenge that the country faces is how to increase productivity.He mentioned the United Kingdom, Kenya and China as the countries with higher investment capital in Tanzania.<o:p></o:p></span></div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><br />
</div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">He clarified that the country has made strides in terms of infrastructure development, especially roads that have enhanced economic activities.<o:p></o:p></span></div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><br />
</div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Giving a statement on the report, with the focus on policy matters in Tanzania, UN Resident Coordinator Mr Alberic Kacou urged African countries to adopt and implement effective investment policies framework for sustainable development.<o:p></o:p></span></div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><br />
</div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Mr Kacou told invited guests from government, civil societies, diplomatic missions and press members that it was time for them to take up financial challenges by harnessing economic growth for sustainable and inclusive development.<o:p></o:p></span></div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><br />
</div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">He pointed out that investment was the primary driver of the economic growth, therefore priority for all countries should be mobilizing investment and ensuring that it contributes to the national sustainable development.<o:p></o:p></span></div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><br />
</div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">During the launch, there was concern on whether FDI has made contribution to poverty alleviation and corporate social responsibilities.<o:p></o:p></span></div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><br />
</div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Representatives from the press, higher learning institutions as well as civil societies urged TIC to adopt policies which are integrated to development strategies, effectiveness and responsible investor behaviour.<o:p></o:p></span></div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><br />
</div><div class="MsoNormal" style="direction: ltr; unicode-bidi: embed;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Mr Kacou recommended inclusiveness and transparency for the betterment of the country. -- NNN-DAILYNEWS<o:p></o:p></span></div></div>

Tanzania Leads in Direct Foreign Investment in East Africa

DAR ES SALAAM (NNN-DAILYNEWS) -- Tanzania has recorded the highest Foreign Direct Investment (FDI) compared to other East African countrie...

Indian Govt. to Announce Measures to Boost Market

<div dir="ltr" style="text-align: left;" trbidi="on"><br />
<div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: 'Trebuchet MS', sans-serif;"><span style="line-height: 18px;"><br />
</span></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">KOLKATA, India (NNN-Bernama) -- Government will soon announce measures to improve market conditions, Finance Minister Pranab Mukherjee disclosed here on Saturday. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">"The steps we have taken...And we will be able to take certain measures to be announced on Monday which will improve market condition," Mukherjee, who will resign as Finance Minister on June 26, told reporters. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Secretary in the Department of Economic Affairs R Gopalan had on Friday consulted RBI Governor D Subbarao, who is aboard, about the measures underway, Press Trust of India (PTI) quoted the Finance Minister as saying. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Mukherjee expressed concern over sharp depreciation in rupee and inflationary pressures. "I would like to say GDP (growth) is at 6.5 per cent.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">There is inflationary pressure on economy, there is depreciation of Rupee. These are, no doubt, signs of weakness in Indian economy ...I am concerned but I am not depressed". <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">He said when the global economy is in turmoil,"then no country can expect that there will be pocket of development and particularly a large economy like India which is the third largest in terms of purchasing power parity cannot remain insulated from external factors". <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Rupee has lost over 20 per cent against the US dollar in the last one year.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">It has weakened to over Rs 57 to a dollar, exerting inflationary pressure on the economy, particularly with regard to crude oil imports. The stock market has lost ground and industrial growth has slipped to 0.1 per cent in April. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">However, Mukherjee, who has been named as the UPA Presidential candidate said the Indian economy is resilient with strong fundamentals. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">He said the period from January to June 6, 2012 saw an inflow of FII money to the tune of US$8 billion, as against negative flow in 2011. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">"...FDI stood at USD 46-48 billion which is higher than last fiscal," Mukherjee said. -- NNN-BERNAMA<o:p></o:p></span></div></div>

Indian Govt. to Announce Measures to Boost Market

KOLKATA, India (NNN-Bernama) -- Government will soon announce measures to improve market conditions, Finance Minister Pranab Mukherjee di...

Italy Keen to Bring FDI in Fashion, Textiles to India

<div dir="ltr" style="text-align: left;" trbidi="on"><br />
<div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">NEW DELHI, India (NNN-PTI) -- Terming India's decision to allow 100 per cent foreign direct investment (FDI) in single-brand retail as a "revolution", Italy on Thursday said several companies have shown interest in setting up stores in the country, Press Trust of India (PTI) reported. <o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Italian Trade Commissioner Erica Di Giovancarlo said businessmen of both countries can collaborate in sectors like automobiles, fashion and textiles through joint ventures. <o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">"This decision (allowing 100 per cent FDI in single-brand) of the government is a revolution in this market. I am sure it will catch interest of lot of companies," Giovancarlo told PTI. <o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">The decision has paved the way for global Italian chains like Armani, Gucci and Prada to have full ownership of their India operations. <o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Italy, a world leader in fashion designing, is interested in setting up businesses here. "Italy is known for fashion. Indian designs are growing very fast. It will be interesting to see how two countries can match. We are working hard on this," she said. <o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;"><o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">She said in order to bolster trade ties between the two countries, Italy is also organising a three-day 'Expo Riva Schuh Fair' here starting July 5. <o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">The exhibition will offer high-end products which include bags, belts, footwears and leather accessories. "It’s a good meeting point of local needs and Italian products," she said. <o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">However, the third-largest economy in Europe will wait for the economic situation to recover in its region, before making investments here. <o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">The Italian companies, mainly the small and medium enterprises (SMEs), are facing a tough situation due to slowdown. "We have to wait as situation in Italy is very tough but the interest in this country (India) is very high," Giovancarlo added. <o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">The bilateral trade between India and Italy stood at US$8.8 billion during India's fiscal 2010-11 ended March 31, 2011. <o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="tab-stops: center 234.0pt; text-align: justify;"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">The economic situation in Italy and Europe, in general, is improving although the situation is still difficult, Giovancarlo said. -- NNN-BERNAMA <o:p></o:p></span></div></div>

Italy Keen to Bring FDI in Fashion, Textiles to India

NEW DELHI, India (NNN-PTI) -- Terming India's decision to allow 100 per cent foreign direct investment (FDI) in single-brand retail as...

Indian Leading Oil Company in Talks to Buy 25% Stake in Falklands’ Exploration Block

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<div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><span style="font-family: 'Trebuchet MS', sans-serif;"><span style="line-height: 18px;"><br />
</span></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">  <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">BUENOS AIRES (NNN-MERCOPRESS): The overseas arm of Indian state-owned Oil and Natural Gas Corp (ONGC), ONGC Videsh Ltd is in talks to buy 25% stake in an exploration block off Falkland Islands in the South Atlantic, reports The Economic Times from New Delhi.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">OVL is a subsidiary of India’s flagship oil company and has operations in Brazil, Colombia, Cuba and Venezuela OVL is a subsidiary of India’s flagship oil company and has operations in Brazil, Colombia, Cuba and Venezuela<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">OVL is in talks to buy 25% stake of UK-listed Falkland Oil and Gas Ltd in two exploration blocks, lying 350 miles off the Southern tip of Argentina, sources privy to the development said.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">FOGL, an oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands will retain operator-ship of the licence.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">The blocks are located in the south and east Falkland basins in water depths ranging from 500 meter to 2,000 meter. The resources estimate of 15 prospects identified may hold up to 15 billion barrels of oil equivalent or 46 Trillion cubic feet of gas reserves.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Under the terms being discussed with FOGL, OVL would contribute its pro-rata share of 2012 drilling program, comprising two exploration wells. OVL would also pay its pro-rata share of certain historical costs incurred during 2011 related to preparation for drilling this year. The costs incurred are estimated to be 68 million dollars.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Besides, OVL would make cash payment of 40 million dollars. If the Loligo prospect, where drilling is due this year, turns out to be a gas discovery, a liquefied natural gas (LNG) terminal would be built onshore with a capacity of about 7 million tons per annum for exports to consumption centres like India. But if the reserves are of lesser than quantity, a floating LNG project may be developed, they said.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">FOGL plans to drill one exploration well (Loligo) in Phase-1 in the Northern License Area. In Southern Licence Area it has committed to drill one well by December 30, 2015. Under licence terms, a Discovery Area can be held for five years to allow time for appraisal drilling and submission of a development plan, sources said adding exploitation (production) period has been capped at 35 years.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">According to its website, ONGC Videsh website was rechristened on 15th June 1989 from the erstwhile Hydrocarbons India Private Limited, which was incorporated on 5th March, 1965. Over a period of time, OVL has grown to become the second-largest E&P company in India both in terms of oil production and oil and gas reserve holdings. The primary business of OVL is to prospect for oil and gas acreages abroad including acquisition of oil and gas fields, exploration, development, production, transportation and export of oil and gas.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">OVL is a wholly-owned subsidiary of Oil and Natural Gas Corporation Ltd, ONGC), the flagship national oil company of India. It has operations in several Latin American countries: Brazil, Colombia, Cuba and Venezuela.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Starting with the exploration and development of the Rostam and Raksh oil fields in Iran and undertaking a service contract in Iraq, a major breakthrough was achieved by OVL in 1992 in Vietnam with the discovery of two major free gas fields, namely LanTay and LanDo, in partnership with British Petroleum and Petro-Vietnam.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">The success carried on thereafter. In 2001, OVL acquired 20% stake in Sakhalin-1 project in the far east of Russia. In January 2009, OVL completed the acquisition of Imperial Energy Corporation Plc., an UK listed company, having its exploration and production assets in Tomsk region of Western Siberia, Russia with an investment of over 2.1 billion dollars.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">OVL along with other consortium partners was selected in February, 2010 by Venezuela for awarding a 40% ownership (equity) interest in a “Mixed Company” which will develop the Carabobo 1 Norte and Carabobo 1 Centro blocks located in the Orinoco Heavy Oil Belt of Venezuela. This is a multi-billion integrated oil project in Venezuela.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Recently, OVL added one asset in its portfolio of exploratory assets by signing agreements with KazMunaiGas (KMG), the national oil company of Kazakhstan for acquisition of 25% participating interest in Satpayev exploration block on 16th April, 2011.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">The company, adopting a balanced portfolio approach, maintains a combination of producing, discovered and exploration assets, working as operator in 11 projects and joint operator in 6 projects. OVL produces hydrocarbons from its 9 assets, namely, Russia (Sakhalin-I and Imperial), Syria (Al-Furat Project), Vietnam (Block 06.1), Colombia (Mansarover Energy Project), Sudan (Greater Nile Oil Project and Block 5A), Venezuela (San Cristobal Project) and Brazil (BC-10) ; Blocks A1 and A3 in Mayanmar, Carabobo-1 in Venezuela and Farsi Block, Iran have discover and further work is being carried out.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">OVL international oil and gas operations produced 9.45 MMT of O OEG in 2010-11 as against 0.252 MMT of O OEG in 2002-03. OVL overseas cumulative investment has crossed 12 billion dollars.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: kashida; text-kashida: 20%;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Some of the leading alliance partners of OVL are BP, CNPC, Ecopetrol, ENI, Exxon, Statoil Hydro, PDVSA, Petrobras, Petronas, Petrovietnam, Repsol, Rosneft, Shell, Sinopec, Total and TPOC. -NNN-MERCOPRESS<o:p></o:p></span></div></div>

Indian Leading Oil Company in Talks to Buy 25% Stake in Falklands’ Exploration Block

BUENOS AIRES (NNN-MERCOPRESS): The overseas arm of Indian state-owned Oil and Natural Gas Corp (ONGC), ONGC Videsh Ltd is in talks to b...

Foreign Universities and Educational Institutions in India

Foreign Universities and Educational Institutions in India

New Delhi (PIB) --- Dr. D. Purandeswari, Minister of State for Human Resource informed the Rajya Sabha (upper house) that, the Government ...

India Is the Most Attractive" Investment Destination: Lord Swraj Paul

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<div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">NEW DELHI (NNN-PTI): India is currently the "most attractive" investment destination; London-based industrialist Lord Swraj Paul said Friday, underlining that retrospective amendment of laws to bring into the tax net Vodafone-type deals will not have any long-term negative impact.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">"India at the moment is perhaps the most attractive country for investment... Whenever anything like this happens, people make lot of noise," Lord Paul said when asked whether the controversy over the proposed amendment of the Income Tax Act from retrospective effect would affect investor confidence.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Paul told PTI the investment decisions are not made only by the taxation issues.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">"People see the whole package. Is it a friendly country to invest? " he said, however, adding that it may have some impact in the short-run.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">The government proposes to amend the Income Tax Act with retrospective effect. The move followed the Supreme Court ruling in favour of British telecom major Vodafone in the Rs 11,000 crore tax dispute arising out of its acquisition of 67 per cent stake in Hutch Essar from Hong Kong-based Hutchison Telecom.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Several global industry bodies have supported Vodafone and written to Prime Minister Manmohan Singh. During his recent visit to India, UK Chancellor for Exchequer George Osborne also raised the issue with Finance Minister Pranab Mukherjee.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%;">Lord Paul, who is on a India visit, said Britain had also made similar changes. "The first time the retrospective tax case came up was in Britain...nobody (investor) holds money. This tax is not the only thing which affects...” -NNN-PTI<o:p></o:p></span></div></div>

India Is the Most Attractive" Investment Destination: Lord Swraj Paul

NEW DELHI (NNN-PTI): India is currently the "most attractive" investment destination; London-based industrialist Lord Swraj Paul...

India to Soon Decide on the Issue of FDI by Foreign Airlines

India to Soon Decide on the Issue of FDI by Foreign Airlines

NEW DELHI (NNN-Bernama): Moving ahead with its proposal to provide relief to the cash-strapped aviation industry, the India government o...

President Sata Invites Indian Hotel Chain to Invest in Zambia

<div dir="ltr" style="text-align: left;" trbidi="on"><br />
<div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">AHMEDABAD, INDIA (NNN-ZNBC) -- President Michael Sata has invited a hotel chain from India to invest in Zambia in his continued efforts to woo investors. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The Zambian government is ready to facilitate investment in the hotel industry; President Sata said durimg a meeting Mon March 26 with Ummeid Champawat, the Chairman and Managing Director of UMEID Group of Hotels in Ahmedabad in the western Indian state of Gujarat. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">President Sata assured Champawat of the Zambian government’s readiness to work with investors who would contribute to the development of tourism in the country, according to a statement issued by his Special Assistant for Press and Public Relations, George Chellah. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The president said he wanted to ensure that Zambia maximised on economic benefits from the World Tourism Assembly to be co-hosted by Zambia and Zimbabwe next year. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">He noted that construction of hotels prior to the event scheduled for next year would go a long way towards enhancing tourism development in the country. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">President Sata was accompanied by Zambian High Commissioner (ambassador) to India Susan Sikaneta while Champawat was accompanied by Gateway Hotel General Manager Darius Merchant. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Champawat said his company was eager to invest in Zambia. The Umeid Group of Hotels is operated by the Taj Hotel Group of companies. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">President Sata is on a private visit to India and is accompanied by First Lady Christine Kaseba and Chellah. -- NNN-ZNBC<o:p></o:p></span></div></div>

President Sata Invites Indian Hotel Chain to Invest in Zambia

AHMEDABAD, INDIA (NNN-ZNBC) -- President Michael Sata has invited a hotel chain from India to invest in Zambia in his continued efforts to ...

India Attracts Record Foreign Investment Despite Slowdown

<div dir="ltr" style="text-align: left;" trbidi="on"><br />
<div class="MsoNormal" style="text-align: justify;"><span style="font-family: 'Trebuchet MS';"><br />
</span></div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">By Anjana Pasricha<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">  <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">   <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><st1:place w:st="on"><st1:country-region w:st="on"><span style="background: white; font-family: "Trebuchet MS";">India</span></st1:country-region></st1:place><span style="background: white; font-family: "Trebuchet MS";"> attracted record foreign investment of about $50 billion last year. Despite a slowdown in its economy, <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place> continues to be an attractive global investment hub.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">Much of the economic news in <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place> during the last year was not positive. High inflation persisted. The rupee depreciated. The stock market lost nearly a quarter of its value. Growth rates were revised downwards to seven percent.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">But foreign investors are still keeping faith with the potential of <st1:place w:st="on">Asia</st1:place>’s third largest economy. In the first eleven months of 2011, foreign direct investment totaled $50.81 billion, up 13 percent from the previous year, according to a recent report by global consultancy Ernst & Young.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">Analysts say <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place>’s expanding middle class and a large and cheap labor force remain attractive for global businesses.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">Chief economist at consultancy Crisil in Mumbai, D.K. Joshi says economic turbulence in Western countries means multinationals will have to explore Asian markets for growth. Among these, <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place>’s huge domestic market is clearly one of the main magnets.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">"Growth slowdown that is taking place in <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place> needs to be looked at in the global context. If you look at the weak growth prospects in advanced countries, especially Europe and <st1:country-region w:st="on">Japan</st1:country-region>, and tepid recovery in <st1:country-region w:st="on">U.S.</st1:country-region>, seven percent growth in <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place> looks very good.  So, from a growth differential perspective I think we are still very attractive," said Joshi.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><st1:place w:st="on"><st1:country-region w:st="on"><span style="background: white; font-family: "Trebuchet MS";">India</span></st1:country-region></st1:place><span style="background: white; font-family: "Trebuchet MS";"> has been attracting foreign investment in sectors such as automobiles, telecommunication, technology and pharmaceuticals.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">But the area where it desperately wants foreign investment is infrastructure - a sector in which <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place> plans to spend one trillion dollars in the next five years. On a recent visit to the <st1:place w:st="on"><st1:country-region w:st="on">United States</st1:country-region></st1:place>, Indian Finance Minister Pranab Mukherjee pitched for overseas businesses to help build the highways, ports and power plants which the country needs.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">However, analysts point out that many foreign investors have been deterred by lack of governance and slow policy-making in <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place>.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">D.H. Pai Panandiker heads the economic think tank, RPG Goenka Foundation in <st1:place w:st="on"><st1:city w:st="on">New Delhi</st1:city></st1:place>. He says foreign investment in <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place> also remains below potential because many sectors of the economy are still closed to outsiders.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">"It could have encouraged much more if reforms had come. It would have been a flood of foreign investment. What people are expecting is more liberal reform.  Retailing is one area, but in others like insurance, banking… that would make a considerable difference to Indian economy," he said.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">The government has been assuring investors that those reforms will come. Although it backtracked on opening the retail sector to overseas investors in December, because of political opposition, the government's top ministers have said that the decision is only on hold and will be implemented.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">Investors are wanting to tap the potential of the Indian market and <st1:country-region w:st="on">U.S.</st1:country-region> based companies are the leading investors in <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place>. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">On Monday, <st1:place w:st="on"><st1:country-region w:st="on">U.S.</st1:country-region></st1:place> based Starbucks Corporation announced plans to open its first store in August, to woo coffee drinkers.  It plans to soon expand to 50 outlets.  Like other companies, analysts point out that Starbucks wants to expand in the Asia-Pacific region, where growth is accelerating faster than in the <st1:place w:st="on"><st1:country-region w:st="on">United States</st1:country-region></st1:place>.  <span class="apple-style-span">---VOA News<o:p></o:p></span></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div></div>

India Attracts Record Foreign Investment Despite Slowdown

By Anjana Pasricha India attracted record foreign investment of about $50 billion last year. Despite a slowdown in its economy, Indi...

India Expects US$100 Billion FDI in Nuclear Energy in 20 Yrs

<div dir="ltr" style="text-align: left;" trbidi="on"><div align="center" class="MsoNormal" style="text-align: center;"><br />
<div style="text-align: left;"><br />
</div></div><div align="center" class="MsoNormal" style="text-align: center;"><b><i><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS';">Anand Sharma Invites French Luxury Goods Companies to Establish Manufacturing Bases in <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place><o:p></o:p></span></i></b></div><div class="MsoNormal" style="text-align: justify;"><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhApdu3cO5Y9R5-STriyA5el5OxKHcQWwUCHarAK4rxriHcc9X64ybQ6fcoZFex__yiHaczErrnjUT5-4Hzk7W7xXEwrrkEYWzLPQbvbvOpBv_jQOczO9fnUanfULtzQi6qW4QbW9KcoU4/s1600/l2012013138990.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="251" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhApdu3cO5Y9R5-STriyA5el5OxKHcQWwUCHarAK4rxriHcc9X64ybQ6fcoZFex__yiHaczErrnjUT5-4Hzk7W7xXEwrrkEYWzLPQbvbvOpBv_jQOczO9fnUanfULtzQi6qW4QbW9KcoU4/s400/l2012013138990.jpg" width="400" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><div align="center" class="MsoNormal" style="font-size: medium;"><i><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS'; font-size: 8pt;">The Union Minister for Commerce & Industry and Textiles, Anand Sharma<o:p></o:p></span></i></div><div align="center" class="MsoNormal" style="font-size: medium;"><i><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS'; font-size: 8pt;">with the Minister of Budget of France, Ms. Valérie Pécresse, at the India-France<o:p></o:p></span></i></div><div align="center" class="MsoNormal" style="font-size: medium;"><i><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS'; font-size: 8pt;">CEO Forum, in <st1:place w:st="on"><st1:city w:st="on">Paris</st1:city></st1:place> on January 30, 2012.</span></i></div></td></tr>
</tbody></table></div><div align="center" class="MsoNormal" style="text-align: center;"><div style="text-align: justify;"><br />
</div></div><div class="MsoNormal" style="text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS';">NEW DELHI (NNN-Bernama) -- India is expected to get foreign investment of over US$100 billion in nuclear energy in the next 20 years, of which a quarter would come from France, according to Commerce and Industry Minister Anand Sharma. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS';">"In the coming two decades, India will see investments in excess of US$100 billion in the nuclear power sector alone and, I am sure, at least a quarter will come from France," Press Trust of India (PTI) quoted him as saying in Paris Monday. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS';">Addressing the India-France CEO Forum, he said, <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place> "values" the French partnership in the energy sector, especially in nuclear power. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS';">French nuclear energy majors Areva and Alstom are actively pursuing business interest in <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place>. However, some of the proposed nuclear plants like Jaitapur in the western state of <st1:place w:st="on">Maharashtra</st1:place> are facing protests from the locals. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS';">A Commerce Ministry statement here quoted Sharma as saying that a total investment of US$14 billion from <st1:place w:st="on"><st1:country-region w:st="on">France</st1:country-region></st1:place> is in the pipeline in different sectors of the economy. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS';">But, "given the strong position of French companies, the level of French investment in <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place> is way below potential. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS';">"There are 800 French companies in <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place> which engage over 80,000 people and we would like to see this growing in the coming years", he added. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS';">Referring to the recent decision of the government to allow 100 per cent foreign direct investment (FDI) in single brand retail, he expressed the hope that the French luxury companies would establish manufacturing base in <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place>. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS';">"This will create a win-win situation as <st1:country-region w:st="on">India</st1:country-region> has emerged as a huge market for luxury goods and establishment of manufacturing in <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place> will provide maximum value," the minister said. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS';">Sharma also invited French companies to invest in the mega national investment and manufacturing zones. These zones are planned along the Delhi-Mumbai rail freight corridor covering seven northern and western states. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS';">During fiscal 2010-11 ended March 31, 2011, bilateral trade between the two countries stood at US$8 billion. -- NNN-BERNAMA<o:p></o:p></span></div></div>

India Expects US$100 Billion FDI in Nuclear Energy in 20 Yrs

Anand Sharma Invites French Luxury Goods Companies to Establish Manufacturing Bases in India The Union Minister for Commerce & Indus...

India: Foreign Investment Could Boost India's Beleaguered Aviation Industry

<div dir="ltr" style="text-align: left;" trbidi="on"><br />
<div class="MsoNormal" style="text-align: justify;"><span style="font-family: 'Trebuchet MS';"><b><br />
</b></span></div><div class="MsoNormal" style="text-align: justify;"><b><span style="background: white; font-family: "Trebuchet MS"; font-size: 8.0pt;">By Anjana Pasricha from <st1:place w:st="on"><st1:city w:st="on">New   Delhi</st1:city></st1:place><o:p></o:p></span></b></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><st1:country-region w:st="on"><st1:place w:st="on"><b><i><span style="background: white; font-family: "Trebuchet MS";">India</span></i></b></st1:place></st1:country-region><b><i><span style="background: white; font-family: "Trebuchet MS";">’s beleaguered aviation industry is hoping to be more profitable if the government allows foreign airlines to invest in the sector. So far, massive passenger growth has not translated into profits.<o:p></o:p></span></i></b></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">By the end of the financial year in March, <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region>’s domestic airlines will have piled up losses of an estimated $2.5 billion. Coming on top of losses sustained in previous years, the aviation industry is deep in debt.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">But the cash-strapped sector has finally heard some good news. A group of ministers this week agreed to allow foreign airlines to buy stakes of up to 49 percent in domestic carriers. The proposal - being seen as a lifeline for the industry - is expected to get formal approval in the coming weeks.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">The Indian aviation industry is among the fastest growing in the world with traffic increasing by over 17 percent last year.  But the industry continues to lose money.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">That is largely because aviation fuel prices - already high due to local taxes - have risen sharply. However airlines have been unable to offset those costs by raising fares due to cut throat competition in the sector.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">“Because of certain carriers undercutting, the other carriers have no option but to match those prices, so sometimes you do have a ridiculous situation where you have flight tickets which are almost the cost of a train journey which itself defies logic," explained Amber Dubey, director of aviation at consultancy KPMG in New Delhi. "So breakneck growth happening but at the same time it is not profitable because it is actually coming on the back of ticket prices which are not sustainable.”<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">Five of <st1:country-region w:st="on">India</st1:country-region>’s six main carriers, including state owned Air <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region>, have posted losses.  Banks, to which they already owe large sums, are unwilling to make more loans. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">But hopes have risen that foreign airlines will provide a much-needed cash infusion under the new law.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">Foreign airlines have been eyeing the Indian market for some time.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">Dubey says that <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region>’s huge growth potential makes the aviation sector attractive despite its problems.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">“The long-term opportunity is what the foreign airlines are going to punt on. Right now if you look at the global traffic that is not growing beyond three, four, or even five percent, it is low single digit growth," Dubey said. "It is countries like <st1:country-region w:st="on">India</st1:country-region>, <st1:country-region w:st="on"><st1:place w:st="on">China</st1:place></st1:country-region>, where the real growth is coming, this is where the populations are. And if you look at air travel penetration, we [<st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place>] are not even four per cent; it is not even the tip of the iceberg… So the long term outlook for <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region> great, the economy is growing, the per capita incomes are growing, and with that comes the propensity to go for air travel.”<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">Buying stakes in local airlines will give foreign airlines access to smaller towns in the heart of the country. So far they can only fly into major metropolitan areas. In exchange, Indian airlines will get access to global routes.<span class="apple-style-span"> ---VOA News<o:p></o:p></span></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div></div>

India: Foreign Investment Could Boost India's Beleaguered Aviation Industry

By Anjana Pasricha from New Delhi India ’s beleaguered aviation industry is hoping to be more profitable if the government allows fore...

Abu Dhabi Investment Authority Looks for Investment Opportunities in India

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<div class="MsoNormal" style="text-align: justify;"><span style="font-family: 'Trebuchet MS';"><br />
</span></div><div class="MsoNormal" style="text-align: center;"><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS';"><b><i>AIDA and Indian Government to form Joint Working Group to Finalize Projects</i></b><o:p></o:p></span><br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhezodcO2_2mIxrq-RTHb-svBNpVhQr7mSO-D3CnEEbkqjjCAZfh70cbnW4cAvGypgHFihjVpQf5-lifCj-WZOAKwUhWxVj6ur7dEjZ2mnnMHr6U0LkZ6fYyBmomr6z0sDcunsusZGgtVE/s1600/l2012011638638.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="461" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhezodcO2_2mIxrq-RTHb-svBNpVhQr7mSO-D3CnEEbkqjjCAZfh70cbnW4cAvGypgHFihjVpQf5-lifCj-WZOAKwUhWxVj6ur7dEjZ2mnnMHr6U0LkZ6fYyBmomr6z0sDcunsusZGgtVE/s640/l2012011638638.jpg" width="640" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><div align="center" class="MsoNormal"><i><span style="font-size: 8.0pt;">The MD, Abu Dhabi Investment Authority, Sheikh Hamed Bin Zayed Al Nahyan meeting the Union Minister for Commerce & Industry and Textiles, Shri Anand Sharma, in New Delhi on January 16, 2012.Photo © PIB<o:p></o:p></span></i></div></td></tr>
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</div><div class="MsoNormal" style="text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS';">Abu Dhabi Investment Authority (ADIA) one of the World’s largest Sovereign wealth funds has expressed keen interest in investing in <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place>. Sheikh Hamed bin Zayed Al Nahyan, Managing Director of ADIA met the Minister of Commerce Industry and Textiles Anand Sharma to discuss the opportunities of investment in <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place>. Both side agreed to finalize a Joint Working Group to expedite the process. “We will be very happy to see your participation in <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place>’s infrastructure building” said Sharma. “This is an opportunity to enter this huge market” said Sheikh Hamed bin Zayed Al Nahyan. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS';"> Sharma mentioned that <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region> will be investing US$ 1 trillion in infrastructure over the next 5 years and huge opportunities exist which include investment along the Delhi Mumbai Industrial Corridor. Returns on infrastructure in <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region> are amongst the highest in the world. The DMIC projects , which are being de-risked before bidding by obtaining all necessary regulatory approvals, might appeal to ADIA for investments as such investments are likely to be profitable. Besides, the huge pent up demand for infrastructure in <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region> makes most PPP projects viable and thus offers huge opportunities for investments. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS';">Keeping in mind the worsening investment climate in developed nations both the leader agreed that UAE and <st1:place w:st="on"><st1:country-region w:st="on">India</st1:country-region></st1:place> should engage more.  Sharma emphasized need to diversify the investment portfolio and proposed that 3-4 new areas must be identified for closer interaction. Minister said that Pharma, Service Sector and engineering along with agro-processing can be the potential areas. AIDA asked for more support for their explorations of opportunities in Indian market.  Sharma also stressed the need for UAE to encourage other members of Gulf Cooperation Council (GCC) for early holding of 3rd round of negotiations on proposed Free Trade Agreement between <st1:country-region w:st="on">India</st1:country-region> and GCC to be held in <st1:place w:st="on"><st1:city w:st="on">New Delhi</st1:city></st1:place>. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="background-attachment: initial; background-clip: initial; background-color: white; background-image: initial; background-origin: initial; font-family: 'Trebuchet MS';">UAE is the topmost trading partner of <st1:country-region w:st="on">India</st1:country-region> in the entire West Asia & North Africa (WANA) Region representing about 63% of <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region>’s total trade with GCC countries 2010-11. Bilateral trade has registered an increase over 300% in the last five years. The total trade in 2010 has been US$ 60.357 billion. The exports from <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region> have been US$ 29.456 and imports have been US$ 30.9 billion. Bilateral trade between January to November 2011 has been US $ 66.564 billion. The bilateral trade does not reflect the full potential and can be further exploited to mutual advantage of both the countries, felt the two leaders.<span class="apple-style-span"> ---PIB</span></span><span class="apple-style-span"><o:p></o:p></span></div></div>

Abu Dhabi Investment Authority Looks for Investment Opportunities in India

AIDA and Indian Government to form Joint Working Group to Finalize Projects The MD, Abu Dhabi Investment Authority, Sheikh Hamed Bin Z...

India Steps Up Drive to Invest In Zimbabwe

<div dir="ltr" style="text-align: left;" trbidi="on"><br />
<div style="border-bottom: double windowtext 2.25pt; border: none; mso-element: para-border-div; padding: 0in 0in 1.0pt 0in;">  <div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><span style="background-color: white; font-family: 'Trebuchet MS';">HARARE (NNN-NEW ZIANA) -– A high-level business and government delegation from India, led by Industry, Commerce and Textiles Minister Anand Sharma, is expected in Zimbabwe early next week to explore various areas of co-operation.</span></div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><br />
</div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">The visit of the delegation, comprising at least 24 companies representing various sectors including agriculture, information technology (IT), mining, finance, manufacturing and energy, is a follow up to an earlier one in September last year led by Indian Minister of State for Commerce and Industry Jyotiraditya Scindia, who brought a delegation from the Confederation of Indian Industry (CII).<o:p></o:p></span></div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><br />
</div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><st1:country-region w:st="on"><span style="background: white; font-family: "Trebuchet MS";">Zimbabwe</span></st1:country-region><span style="background: white; font-family: "Trebuchet MS";">'s Economic Planning and Investment Promotion Secretary, Dr Desire Sibanda, said here Wednesday ratification of the Bilateral Investment Promotion and Protection Agreement (BIPPA) between <st1:country-region w:st="on">Zimbabwe</st1:country-region> and <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region> late last year had helped provide impetus to the investment relations between the two countries.<o:p></o:p></span></div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><br />
</div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">"<st1:country-region w:st="on">Zimbabwe</st1:country-region> and <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region> have strong business ties as personified by the ratification of the BIPPA between the two countries late in 2011," he said.<o:p></o:p></span></div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><br />
</div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">As part of the visit, an investment conference would be held in <st1:city w:st="on"><st1:place w:st="on">Harare</st1:place></st1:city> under the theme, “Partnership for Growth”.<o:p></o:p></span></div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><br />
</div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">Dr Sibanda said some of the objectives of the delegation's visit included providing a platform for decision makers both in the private and public sectors from both countries to discuss specific opportunities.<o:p></o:p></span></div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><br />
</div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">Indian companies would also be provided with the opportunity to participate in projects in <st1:country-region w:st="on"><st1:place w:st="on">Zimbabwe</st1:place></st1:country-region> through partnerships as well as get more information on identified priority sectors as outlined in the country's Medium Term Plan (MTP).<o:p></o:p></span></div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><br />
</div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">They would also be appraised on the investment and business environment prevailing in the country. The <st1:place w:st="on"><st1:country-region w:st="on">Zimbabwe</st1:country-region></st1:place> government is committed to raising foreign direct investment (FDI) levels from 4.0 per cent of GDP registered in 2009 to at least 25 per cent by 2015, said Dr Sibanda.<o:p></o:p></span></div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><br />
</div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">"In this regard, the Ministry of Economic Planning and Investment Promotion is intensifying its international investment promotional tours and conferences to showcase <st1:country-region w:st="on"><st1:place w:st="on">Zimbabwe</st1:place></st1:country-region> as a viable investment destination in order to meet this target," he said.<o:p></o:p></span></div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><br />
</div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><span style="background: white; font-family: "Trebuchet MS";">The Indian delegation will meet government officials and the private sector to explore areas of co-operation and investments.<o:p></o:p></span></div><div class="MsoNormal" style="border: none; mso-border-bottom-alt: double windowtext 2.25pt; mso-padding-alt: 0in 0in 1.0pt 0in; padding: 0in; text-align: justify;"><br />
</div></div><span style="background: white; font-family: "Trebuchet MS"; font-size: 12.0pt; mso-ansi-language: EN-US; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-US;">Approximately 9.2 billion USD in investments are required to finance the MTP in order to meet the growth and development targets set for the plan period with FDI expected to provide a significant chunk of the inflows. -- NNN-NEW ZIANA</span></div>

India Steps Up Drive to Invest In Zimbabwe

HARARE (NNN-NEW ZIANA) -– A high-level business and government delegation from India, led by Industry, Commerce and Textiles Minister Ana...