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India International Trade Fair Held
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| 04. TRADE AND ECONOMY |
India International Trade Fair Held |
The President, Smt. Pratibha Devisingh Patil, Union Minister of Commerce and Industry, Shri Kamal Nath and the Chief Minister of Meghalaya, Shri D.D. Lapang at the inauguration of the 27th India International Trade Fair-2007. |
The Union Minister of Commerce and Industry, Shri Kamal Nath addressing at the inauguration of the 27th India International Trade Fair-2007. |
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President Pratibha Patil inaugurated the 7th edition of the fortnight-long (November 14-27) India International Trade Fair 2007 (IITF-2007) at Pragati Maidan, in New Delhi on 14 November. Himachal Pradesh was the “partner state” this year while the North-East state of Meghalaya the “focus state”. The fair has attracted 7,500 companies from 43 countries. IITF is the largest event of its kind in Asia. This year the overseas participants were from Australia, Afghanistan, Bangladesh, Belarus, Belgium, Bhutan, Brazil, China, Egypt, Germany, Holland, Hong Kong, Indonesia, Italy, Japan, Korea, Kuwait, Maldives, Myanmar, Nepal, Nigeria, Oman, Pakistan, Poland, the Philippines, Saudi Arabia, Singapore, South Africa, Sri Lanka, Surinam, Spain, Switzerland, Syria, Taiwan, Tanzania, Turkey, Thailand, the UAE, the UK, the USA, and Vietnam. Over three million people are estimated to have visited the fair. |
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India a new hub for climate change research
India has emerged as a hub for climate change research in Asia with UK emerging as a key partner. While the Chief Scientific Advisor to UK David King has been on a lecture tour of India exhorting scientists to move fast on climate change, the government on its part is moving fast.
It is all set to announce the first research institute for climate change to be set up in the Indian Institute for Tropical Meteorology in Pune. The proposal, which awaits Cabinet approval, is expected to boost studies into climate predictions and impacts.
This apart, the UK India Education and Research Initiative (UKERI) formed in 2005 is backing joint research activities with top institutions in the country, while the Department for Environment Food and Rural Affairs (DEFRA), another arm of the British High Commission, is engaging in research with the ministry of environment and forests.
This week the UKERI launched its first ever climate change projects worth Pounds 1.5 million which are expected to help take forward work being done in IIT Delhi, Indian Institute of Science Bangalore and Indian Institute for Tropical Meteorology Pune on climate predictions and also impacts of climate change.
Source : Business Standard |
India can get double-digit growth:
BBC editor
BBC World Business' editor Peter Eustace said India could achieve double-digit growth provided the global Economy does well, the country pays attention towards infrastructure, continues encouragement of FDI inflow and its Companies continue to grow globally.
"I believe, in spite of the global economic slowdown, India will continue to grow at the current rate in the short-term. It is, however, difficult to predict what is in store in the next four to five years," Eustace said at a free-wheeling interaction with reporters.He, however, pointed out that the slowdown in the world Economy can cast a spell over India's growth, though not to a large extent. At the same time, it can hold back India's dream of attaining double-digit GDP growth.
"The slowdown in world Economy may impact upto 1-2 per cent. However, if things look up, India will attain the double -digit growth target," Eustace said. There are signs of slowing down of the US Economy, he said, adding that the EU Economy has been downgraded while the Middle East is growing. Eustace said rising oil prices coupled with protectionism nature of the developed economies could hold back India's target of growing in double-digits.
Source: The Financial Express |
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EXPORTS UP BY OVER 35% |
India’s exports during October, 2007 were valued at US $ 13302.71 million which was 35.65% higher than the level of US $ 9806.69 million during October, 2006. In rupee terms, exports touched Rs.52560.85crore, which was 17.88% higher than the value of exports during October, 2006. Cumulative value of exports for the period April-October, 2007 was US $ 85583.30 million (Rs.347793.90 Crore) as against US $ 70792.52 million (Rs.324863.93 Crore) registering a growth of 20.89% in Dollar terms and 7.06% in Rupee terms during the same period last year.
India’s imports during October, 2007 were valued at US $ 20785.29 million representing an increase of 24.27 % over the level of imports valued at US $ 16725.65 million in October, 2006. In Rupee terms, imports increased by 7.99%. Cumulative value of imports for the period April-October, 2007 was US $ 129989.72 million (Rs.528546.44 Crore) as against US $ 103735.88 million (Rs.475862.57 Crore) registering a growth of 25.31% in Dollar terms and 11.07% in Rupee terms during the same period last year.
Oil imports during October, 2007 were valued at US $ 6126.22 million which was 14.59% higher than oil imports valued at US $ 5346.14 million in the corresponding period last year. Oil imports during April-October, 2007 were valued at US $ 37525.44 million which was 9.25% higher than the oil imports of US $ 34349.77 million in the corresponding period last year.
Non-oil imports during October, 2007 were estimated at US $ 14659.07 million which was 28.82% higher than growth of non oil imports of US $ 11379.52 million in October, 2006. Non-oil imports during April-October, 2007 were valued at US $ 92464.28 million which was 33.26% higher than the level of such imports valued at US $ 69386.11 million in April-October, 2006. |
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