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Approval to Posco SEZ in Orissa
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03. INVESTMENT UPDATE |
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Approval to Posco SEZ in Orissa
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The Fifth Board of Approvals for Special
Economic Zones (SEZs) met under the chairmanship of Shri G.K. Pillai,
Special Secretary, Ministry of Commerce and Industry, and Commerce
Secretary designate.
At the meeting, 18 formal approvals and 13 in principle approvals
for establishment of SEZs were granted. The in principle approvals
granted include the proposal from M/s Posco India Private Limited
for setting up of a Multi product SEZ in Jagatsinghpur
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District, Orissa with
an area of 1601.6 hectares.
The investment would be of the order of over Rs.53,000 crores. State
government representatives at the Board of Approvals meeting confirmed
that lands involved in all these cases would be on waste / barren
lands or single crop lands only.
The total number of formal approvals for establishment of SEZs till
date thus comes to 181 (163 earlier + 18). |
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India pitches for a development
agenda for intellectual property |
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The Indian delegation
to the General Assembly of the World Intellectual Property
Organisation (WIPO), a UN body responsible for intellectual
property matters, led by Dr. Ajay Dua, Secretary, Department
of Industrial Policy & Promotion, Ministry of Commerce
& Industry, Government of India, has made a strong
pitch to revive the dialogue on mainstreaming development
into the entire agenda of the organization. Hitherto,
its emphasis has been on harmonization and norm setting
of IP laws and implementation-cum- enforcement related
matters. |
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| The 42nd
General Assembly of WIPO meeting in Geneva in a
week long session to take stock of IPR related developments
around the world. Almost all the 183 member countries
are participating in it along with a number of observers,
NGOs and inter-governmental organisations. |
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In the
Statement made on behalf of India, Dr. Dua had emphasized
that the deliberations in WIPO need to make substantial
headway, lest issues falling within its domain get
deliberated bilaterally between nations or negotiated
in other international fora. It has not been able
to develop consensus within |
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WIPO
on a number of contentious issues such as Patent
Law harmonization, evolving a Development Agenda,
protection of traditional knowledge and related
genetic resources as well as on rights of broadcasting
organisations. |
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44 proposals
of Foreign Direct Investment approved
Based on the recommendations of the Foreign Investment
Promotion Board (FIPB) in its meeting held on 23rd December,
2005, Finance Minister, Shri P. Chidambaram has approved
44 proposals of Foreign Direct Investment amounting to
Rs. 741.0065 crore.
These
proposals relate to Ministries/Departments; namely Agriculture
& Cooperation, Commerce, Chemicals & Petro-chemicals,
Defence Production, Food Processing Industries, ndustrial
Policy & Promotion, Information & Broadcasting,
Petroleum & Natural Gas, Shipping, Textiles, Tourism,
Telecommunications and Economic Affairs. |
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India’s External Debt: A Status Report
Released
A Status Report on India’s External
Debt is brought out on an annual basis by the Department of Economic
Affairs, Ministry of Finance setting out the developments in India’s
external debt during the year. The Twelfth Status Report released
recently gives a detailed analysis of the developments in the country’s
external debt during 2005-06 besides providing data from March 1990
to March 2006. The
Report also compares India’s external debt/debt indicators
with other indebted countries.
India’s external debt stock as at end-March 2006 rose to US$125.2
billion from US$123.2 billion at end-March 2005. The increase in
2005-06 was around US$2billion as compared to an increase of US$11.6
billion in 2004-05. The lower level of accumulation of external
debt in 2005-06 was essentially due to redemption of India Millennium
Deposits (IMDs) of US$ 5.5 billion in December 2005.
Component-wise, the increase in debt stock during 2005-06 was mainly
due to escalation in NRI deposits and surge in short-term credits
which were partially offset
by contraction in commercial borrowings and bilateral loans.
External debt indicators have
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improved from strength to strengthduring the last few years despite
an increase in the volume of debt.
External debt-to-GDP ratio has
dropped gradually from 38.7 percent in 1991-92 to 15.8 percent in
2005-06. Debt service as a proportion of current receipts (debt
service ratio) declined over the years to reach a level of 6.1 percent
(excluding one-off transaction of repayments under
IMDs) in 2005-06. Like-wise, short-term debt to total debt and short-term
debt to forex assets have shown gradual improvement. The moderation
in debt accumulation and improvement in debt sustainability indicators
during the post-reform period essentially reflect committed efforts
of the Government to keep external debt within manageable limits.
India’s external debt position compares well with that of other
indebted countries. India’s external debt indicators such as
ratios of short-term debt to total debt and short-term debt to forex
reserves are the lowest among the top ten debtor countries. Proportion
of concessional loans in total debt is the highest, while debt to
GNI and debt service ratios are the second lowest after China for
the year 2004.
Among the top ten debtor countries of the world, India has improved
her ranking from being third in 1991 to eighth in 2004.
The complete Report is available on
Ministry of Finance Website: www.finmin.nic.in.
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NOTICE TENDER |
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DELHI TRANSPORT CORPORATION
(A Govt. of N.C.T. of Delhi)
IP Estate, New Delhi – 110 002, India
BID INVITATION NOTICE
GLOBAL BID NO. DCGM (MSI) / C&BP / 820 / 2006
Bids are invited for supply of complete
built Air Conditioned (AC) and Non-Air Conditioned (Non AC)
LowFloor CNG propelled City Buses (Design, Manufacture, Supply,
Testing & Commissioning) as per description given below
with responsibility for maintenance for 7,50,000km (including
warranty period) from manufacturers of CNG propelled bus chassis
and / or complete CNG buses having at least three years experience
in line. http://dtc.nic.in
OIL
AND NATURAL GAS CORPORATION
ONG / COL / HMM / CSR / ML / O&M / 30 / 2006 / P76BC06026
Brief Description: Manning,
Running, Operating, Victualling,
Repairs and Maintenance of ONGC owned Offshore Supply Vessels
Category:
Maintenance
Approximate Quantity:
31
Contract Period in case
of Services: Three years (36 months)
with an option to ONGC to extend the same for a further period
of one year in two equal installments of six months each on
same rates, terms & conditions |
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