INSIDE THIS ISSUE
   
   
   
  01 MAIN
   
   
  02 NEWSMAKERS
   
   
  03 INVESTMENT UPDATE
   
   
  04 TRADE & ECONOMY
   
   
  05 TECHNOLOGY
   
  ;  
  06 CULTURE
   
   
  07 TRAVEL
   
   
  08 CALENDAR
   

   
  HIGHLIGHTS
   
 

India driving Global Business Confidence
MORE [+]

 
  Healing Traditions
MORE [+]
 
  Visit Madurai
MORE [+]
 

   
  03. INVESTMENT UPDATE
   
 
  Record growth in FDI
 
  Foreign Direct Investments (FDI) inflow into the country is poised to touch a record $15 billion by the end of this fiscal year, accounting for a whopping 120 per cent growth over the previous year.
 
 

Announcing this to the press at the sidelines of the `CII Partnership Summit 2007' Union Minister for Commerce and Industry Kamal Nath said this "highest annual growth" echoed the growing investor confidence in the Government's policies and the country's matured entrepreneurial and intellectual abilities.

He said the FDI inflows in November 2006 were 54 per cent higher than the previous year. The collections from April to November alone were $7.3 billion, recording a 117 per cent jump in investment inflows.

       
 


FDI in hydrocarbon sector


 

India has invited foreign companies to invest and participate in the hydrocarbon sector as a bulk of oil and gas potential still ‘remain locked up’ in its basins.

The government is putting in multi-pronged strategy for faster exploration and acquisition of oil fields, even as OPEC ruled out any further cut in oil production till its next meet in March.

 

‘More areas and opportunities for investment, technology and entrepreneurship are now open for the global players as well as for India’s own public and private sectors,’ External Affairs Minister Pranab Mukherjee said at the inauguration of PETROTECH-2007 conference. He underlined that redoubled and sustained efforts were required to develop new, alternative and renewable sources of energy like nuclear and solar at an affordable cost.

  

India Hydrocarbon Vision-2025 laid down the framework for strengthening the hydrocarbon sector, with petroleum and natural gas being at the forefront.

He underlined the need for equity among countries at various stages of development, equity among producing and importing-consuming economies, equity among various users, be they industry or common man.

         

FDI in retail to be expanded

 

According to Commerce and Industry Minister Kamal Nath the Government would soon allow foreign direct investment (FDI) in retailing in sectors that do not displace existing jobs such as electronics and sports goods. "We are looking at allowing FDI in sectors within retail that lead to incremental economic activity and does not displace neighbourhood stores. We are working on it and will announce it soon,'' he said.

Mr. Kamal Nath, who was releasing the second edition of the India Retail Report here, said allowing FDI in areas like retail of electronics and sports goods would not displace traditional retailers. The Government was trying to frame a policy that was correct and attractive for investors. He launched a portal, www.indiaretailing.com.

 

Global investors summit in Gujarat Held

Delegations from the United States, Japan, China, Singapore, South Korea, Israel, Italy and other countries attended a global investors' summit being organised here as part of the "Vibrant Gujarat celebrations" on the occasion of the "Uttarayan" (kite flying) festival.

Chief Minister Narendra Modi said the 2003 and 2005 summits evoked good investor response and next week's event was expected to surpass the previous performance.

 

For, Gujarat emerged as one of the best investment destinations with its skilled labour, long coastline and 33 Special Economic Zones (SEZs) creating new investment opportunities and strong infrastructure support.

According to a Central Government report, the mandays lost in Gujarat were just about 0.52 per cent, the lowest among all States, he pointed out.

 

   New investment opportunities were identified in the sectors of SEZs, ports, petrochemicals, automobiles, biotechnology, information technology, energy, gems and jewellery, textiles, medical tourism, urban infrastructure and human resource development.


MAIN I TRADE & ECONOMY I INVESTMENT UPDATE I NEWSMAKERS I INFOTECH I CULTURE I TRAVEL I CALENDAR

  &n bsp;  
 
BACK TO TOP