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Indian Government Encouraging FDI in Food Processing Sector
Government has taken steps to encourage FDI and one of the significant measures was declaring the Food Processing Sector under 100% Foreign Direct Investment (FDI) through automatic route.
The Foreign Direct Investment (FDI) inflow into the food processing sector in 2011-12 (up to February, 2012) has been $141.62 (Rs. 682.30).Rs. 1000 Crore Allocated in 2012-13 for bringing Green Revolution in Eastern India
Government of India has been implementing a programme of Bringing Green Revolution in Eastern India (BGREI) –a sub scheme of Rashtriya Krishi Vikas Yojana (RKVY) in eastern States of Assam, Bihar, Chhattisgarh, Jharkhand, Odisha, Uttar Pradesh (East) and West Bengal since 2010-11. The objective of the programme is to increase the productivity of rice based cropping system by promotion of recommended agricultural technologies by addressing the underlying key constraints of different agro climatic sub regions.
Railway Projects through PPP
There is a huge shelf of ongoing projects and limited availability of resources. As on April 1, 2011, there are 340 ongoing new line, gauge conversion and doubling projects requiring about Rs. 1,25,000 crore for their completion.
Madhya Pradesh Plan for 2012-13 Finalized
The Annual Plan for the year 2012-13 for the state of Madhya Pradesh was finalised here today at a meeting between Deputy Chairman, Planning Commission, Mr.Montek Singh Ahluwalia and Chief Minister of Madhya Pradesh, Mr.Shivraj Singh Chauhan. The plan size has been agreed at Rs. 28,000 crore.
International Crude Oil Prices of Indian Basket Rises Further to US$ 110.57/BBL on 10.05.2012
The international crude oil price for Indian Basket as computed/published today by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas rose further to US$ 110.57/barrel (bbl) on 10.05.2012. This was higher than US$0 110.17//bbl prevailing on previous trading day i.e. 09.05.2012.
India Germany to Collaborate in Electric Mobility
India has sought German expertise and participation in developing green technologies. Indian Minister of Commerce Industry and Textiles Shri Anand Sharma told German Federal Minister for Transport, Building And Urban Development, Dr. Peter Ramsauer, that “India and Germany are both committed to reducing carbon emissions and sustainable mobility is one of the highlights of our cooperation in the automotive sector.
Anand Sharma Expresses Concern Over Decline in IIP
Commerce, Industry and Textiles Minister, Shri Anand Sharma expressed “deep concern” over the decline in the Index of Industrial Production especially in capital goods and manufacturing. He has urged RBI for a differential rate of credit for manufacturing, given that there is a huge social dimension attached with the manufacturing sector since it supports millions of jobs. He has pressed for availability of credit at affordable rates for domestic industry and dollar credit for Indian exporters.
FDI in Tourism Projects in India
Foreign Direct Investment (FDI) is allowed for the development of tourism projects in the country. Hotel and Tourism sector is declared as high priority sector and FDI upto 100%, under the automatic route is permitted in ‘Hotels & Tourism Sector’, subject to applicable laws/regulations, security and other conditionalties.
As per a report received from the Department of Industrial Policy & Promotion, the details of the FDI equity flows from April 2008 to January 2012 in the Hotel and Tourism sector are as follows:Urban India Can Benifit Greatly from Technological Developemants in Israel in the Water Sector Says Kamal Nath
Urban Development Minister Shri Kamal Nath has said that India and Israel should have more frequent interactions to share technical knowledge especially in the field of water resource management. He was addressing the first Indo-Israel Water Seminar, organised jointly by the Ministry of Urban Development and Embassy of Israel in New Delhi on Wednesday. The minister mentioned that the number of urban areas in India has gone up by about 54% during last ten years.
Over Rs 32000 crore invested in refineries for production of BS-III/IV quality fuels
The Minister of Petroleum and Natural Gas Shri S. Jaipal Reddy informed the Lok Sabha in written reply today that oil industry has invested over Rs 32,000 crore in upgrading facilities in refineries for production of BS-III/IV auto fuels. He added that in line with the Auto Fuel Policy, Lead was phased out from Petrol completely from 01.02.2000 and BS-IV grade auto fuels in major cities and BS-III grade auto fuels in the rest of the country were introduced in 2010.
International Crude Oil Prices of Indian Basket Resumes Rising Trend, Increases to US$ 110.17/BBL on 09.05.2012
The international crude oil price for Indian Basket as computed/published today by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas slightly bounced back to resume rising trend on 09.05.2012 with crude oil price of US$ 110.17/baral (bbl). This was higher than US$ 109.63//bbl prevailing on previous trading day i.e. 08.05.2012.
Germany Expresses Happiness on Indian Investment Climate
Dr. Philipp Roessler, German Federal Minister of Economics & Technology of Germany has informed visiting Indian Minister of Commerce Industry and Textiles Shri Anand Sharma that most of German Companies in India are happy with the business environment in India and expressed his desire to further deepen economic engagement with India. Reciprocating the sentiment Shri Anand Sharma said “Indian industry majors such as Tata Motors, Bharat Forge, Suzlon and the Mahindras group,Wipro, Infosys have all established their base in Germany.
Indian Export Stood at US$ 24.50 Billion in April 2012: Commerce Secretary
India’s exports for the months of April 2012 have registered a growth of 3.2%, at US $ 24.50 billion. Interacting with the media persons here today, Shri Rahul Khullar, Commerce Secretary, informed that during April 2012 the imports were US $ 37.9 billion with a growth of 3.8% and a Balance of Trade stood at US $ (-)13.4 billion, during the same period.
India Germany to Surpass Trade Target of EURO 20 Billion
The Union Minister of Commerce Industry and Textile Shri Sharma informed that the bilateral trade between India and Germany has more than doubled over the last 5 years to reach nearly US$ 23.64 billion last year. After a bilateral meeting with Dr. Philipp Roessler, German Federal Minister of Economics & Technology of Germany in Berlin today, Shri Sharma expressed confidence that the trade target of Euro 20 Billion by 2012 will be surpassed.
Saudi Arabia Keen to Get Indian Pharmaceutical Products
A Parliamentary delegation led by Dr. Abdullah Bin Mohammed bin Ibrahim Al Al-Sheikh, Speaker of Majlis Ash Shura (Consultative Council) of the Kingdom of Saudi Arabia called upon the Union Health and Family Welfare Minister Shri Ghulam Nabi Azad in New Delhi today. The delegation is on a three day official visit to India. Shri Azad recalled the close relations reflecting centuries old economic and socio-cultural ties between India and Saudi Arabia.
