 |
|
Australia
participates in ‘Global Steel 2006’
MORE
[+]
|
|
| |
|
| |
02. TRADE AND ECONOMY |
| |
|
| |
 |
| |
Australia
participates in ‘Global Steel 2006’ |
| |
‘Global
Steel 2006’ was held in south Goa in early April. Mr Ian McDonald,
NSW Minister of Natural Resources, Primary Industries and Mineral
Resources lead a high powered delegation from Australia that also
include Mr Nevile Wran, ex-premier, NSW. |
| |
|
| |
| |
|
|
|
|
 |
|
Global Steel,
which started its maiden voyage in 2004 as an effort to being
diverse skill sets and scattered knowledge bases to work towards
the common goal of the nation: vision 2020, has over the years
become the industry level platform for the study of emerging
trends, analysis of industry happenings and sheer networking.
During the event, Australia invited Indian companies to capitalise
on its huge reserves of coking coal, a raw material essential
for steel industry.
|
|
Stating this
Mr Ian McDonald, Minister of Natural Resources, New South Wales,
Australia, said: "Our country has the reserves that can
help India develop its steel industry and this resource security
is the most important aspect."
Organised by Steel RX Corporation, a part of the Gujarat NRE
Coke group, the event was backed by the Ministry of Steel, Australian
Trade Commission and various industry associates. |
|
| |
|
| |
| |
|
|
|
|
|
|
| |
FICCI
SURVEY: Growth trends Excellent
According to a Ficci survey on service sector growth trends.
As many as 18 service sector segments of the Indian economy
are projected to clock "excellent growth" levels
of 20-60 per cent in 2005-06 over the previous year, Seventeen
segments are poised to achieve "high growth"
of 10 per cent -20 per cent , and barely five activities
are slated to achieve "moderate growth" (upto
10 per cent), in the current fiscal.
The survey, based on interactions with representatives
of various service providers and operators, |
|
service-related associations and companies
in both private and public sectors, has showed that
the segments projected to achieve "excellent growth"
are retail trade in the organised sector (35%), road
transport service (22%), domestic air passenger traffic
(25%), international air passenger traffic (20%), total
air cargo handled (20%), value-added government postal
services (30%), telecom subscribers (30%), mobile subscriber
(60%) and internet users (60%) among others.
The survey said that the segments likely to experience
"moderate growth" are the overall retail trade
(9%), railway passenger traffic (9%), railway passenger
fare earnings (6%), construction (6-7%) and music industry
(4-5%).
|
|
The survey,
according to Ficci, throws up a number of issues and constraints
faced by the services sector, some of which are common
to all segments. These include lack of adequate infrastructure,
higher incidence of taxation and duties, and other charges.
High licensing charges and security levies add to the
cost of operations.
Many states are yet to implement Vat and sales tax continues
to remain high there.
The industry chamber has suggested that in view of the
role played by the services sector in generating income
and providing employment to millions of people in both
the organised and the unorganised sector, there is a need
for taking pro-active liberal measures and providing incentives
including credit on soft terms. |
|
| |
|
|
|
|
|
|
|
|
| |
|
| |
India
among top 10 service exporters
According to WTO, India joined the ranks of the top ten service
exporters securing the 10th place up from the 16th rank in 2004. The
country's share in service exports was 2.4 per cent while its ranking
among service importers also was 10, with a share of 2.9 per cent
of the total.
India's ranking among the top merchandise exporters also improved
one notch to 29 in 2005 from 30 in the previous year.
The country's share in world exports was 0.9 per cent, while its ranking
among importers jumped to 17 in 2005 from 24 in 2004, trade statistics
released by the World Trade Organisation revealed.
Rise in India’s share in world exports
A robust growth in merchandise exports in 2005 has resulted in India's
share in world exports to inch up to 0.9 per cent from 0.8 per cent
in 2004. In services, India's performance has been more impressive
with its share in world services exports increasing to 2.8 per cent
in 2005 from 1.9 per cent in 2004.
India's world ranking as a merchandise exporter has gone up |
|
one slot in 2005 to 29
from 30 in 2004. As a service exporter, India isnow ranked 10th in
the world compared to the 16th position occupied in 2004.
According to the World Trade Organisation's 'World Trade Report 2005,'
the country's total exports during calendar year 2005 was $89.8 billion
which was 19 percent higher than exports worth $75.6 billion carried
out in 2004.
The country will have to sustain its growth momentum in the next three
years if it wants to reach the commerce ministry's target of a 1.7
percent share in world exports by 2008-09.
Services exports from India increased by a whopping 70 percent in
2005 to $67.6 billion from $ 39.6 billion in 2004.
As per the report, India's total imports increased to $131.6 billion
in 2005 from $97.3 billion in 2004. Its ranking as an importer jumped
to 17 during the year from 24 in the previous year.
The report warned that the prospects of trade were not too bright
in 2006 as a further rise in energy costs during the year cannot be
excluded.
It noted that crude oil prices reached a new peak in the first quarter
of 2006, already exceeding the annual average of 2005 by 10 per cent. |
|
“India
as top destination for retailers”
India has emerged as the most attractive destination for mass merchant
and food retailers, outperforming China for the second year in a row,
according to global consulting firm A T Kearney.
A T Kearney's Global Retail Development Index (GRDI), which ranks
30 emerging countries based on a set of 25 variables including economic
and political risk, retail market attractiveness and retail saturation
levels, has retained India's position at the top.
"The Indian retail market is gradually but surely opening up,
while China's market becomes increasingly saturated," said Mr
Fadi Farra, a Principal in A T Kearney's Consumer Industries and Retail
Practice and leader of the Global Retail Development Index study.
The report said that the Indian Government had been tentative in its
moves to open up the retail sector to Foreign Direct Investment (FDI).
On the permission to allow FDI up to 51 per cent in single-brand retail,
the report said: "This has triggered market-entry announcements
from some retailers and has signalled to international retailers that
India is serious about opening up the sector." |
| |
|
|
|
|
|
|
