Upgradation of existing facility and creation of new facility at Visakhapatnam Port Trust for iron ore handling

The Cabinet Committee on Economic Affairs has approved the project for upgradation of existing facility and creation of a new facility at Visakhapatnam Port Trust for iron ore handling in two phases on Design, Build, Finance, Operate and Transfer (DBFOT) basis at an estimated cost of Rs. 845.41 crore. The project will be taken up for implementation under Private Public...

Petroleum Minister announces launch of Direct Benefit Transfer for LPG scheme in 20 Districts

Government of India is launching Direct Benefit Transfer for LPG (DBTL) scheme in 20 high Aadhaar coverage districts (as annexed) from 1.6.13. The scheme aims to curb leakages and prevent black-marketing and provide subsidy to consumers in their bank accounts. All LPG consumers are advised to immediately do the following to avail of subsidy in their bank accounts: Get...

India and Netherlands sign MoU on technical cooperation in urban planning and management

Shri Kamal Nath, Minister for Urban Development & Parliamentary Affairs, and Ms Melanie Schultz van Haegen, Minister for Infrastructure and Environment, Netherlands signed a Memorandum of Understanding on Technical Cooperation in the field of “Spatial Planning, Water Management , and Mobility Management” on 14th May 2013 at the Hague, Netherlands. At the bilateral meeting, Shri Kamal Nath spoke about the...

Foreign Exchange Earnings from Tourism Increases by More than Seven Percent in April 2013

Foreign Tourist Arrivals also goes up by about two percent during January-April 2013 The Foreign Exchange Earnings (FEEs) from tourism in Rupee terms in April, 2013 rose by seven percent in comparison to April 2012.The Foreign Tourist Arrivals ( FTAs) in April 2013 was 4.52 lakh which was the same in April 2012. However, FTAs during the period January-April 2013...

Setting up of new major ports in the states of West Bengal and Andhra Pradesh

The Cabinet Committee on Economic Affairs (CCEA) today approved the proposal of the Ministry of Shipping for: setting up a new major port at Sagar Island in West Bengal through the Public Private Partnership (PPP) mode by following the extant procedures for project appraisal/approval, including obtaining environmental clearances, etc. appointing the transaction advisers and legal consultants and initiate...

Visa on Arrival Scheme Continues to be Popular with Foreign Tourists

Registeres a Growth of 23 Percent During April 2013 Visa on Arrival (VOA) scheme of the Government continues to be popular with foreign tourists. It registered a growth of 23.5% during April, 2013 as compared to April, 2012. During the month, a total number of 1408 VoAs were issued as compared to 1140 during April, 2012. The following are...

Agricultural and Allied Products Export increases to 33.54 Billion Dollar

India’s exports of agricultural and allied products have increased from 29.8 billion dollar in 2011-12 to 33.54 billion dollar in 2012-13. Commodities prices are a function of production and demand and do not follow a linear path. Agricultural commodities too show this attribute and fluctuate over time and commodity. Currently, International prices of wheat, rice and maize are higher...

Committee to devise a PPP policy with CIL setup

The Union Government has envisaged that one of the ways forward to reduce the dependence on imports is to devise a Public Private Partnership (PPP) policy framework with CIL as one of the partners in order to increase the production of coal for supply to power producers and other consumers. Accordingly the Ministry of Coal has set up a Committee...

Government Envisages Investment of US $ 12.1 Billion in the Airport Sector

Civil Aviation Minister, Shri Ajit Singh, while launching the “India Aviation – 2014” today in New Delhi, said that rapidly expanding air transport network and opening up of the infrastructure to private sector participation have fuelled the growth of air traffic in India. He further said that the Government has envisaged an investment of US $ 12.1 billion in the...

President inaugurates 14 mega watt Solar Power Project at Deoghar

The President of India, Shri Pranab Mukherjee inaugurated the 14 mega watt Solar Power project and laid Foundation Stones for Pilgrim Queue Complex and Deoghar – Basukinath 44 kilo metre Solar Street Light Project at Deoghar, Jharkhand today ( April 30, 2013). Speaking on the occasion the President said that he is hopeful of these initiatives contributing to the overall...

Setting up of Electric Locomotive Factory at Madhepura, Bihar and Diesel Locomotive Factory at Marhowra, Bihar

The Union Cabinet has approved the proposal of the Ministry of Railways for setting up of an Electric Locomotive Factory at Madhepura, Bihar and a Diesel Locomotive Factory at Marhowra, Bihar, to start afresh the bidding processes for these projects. Estimated costs for setting up the Electric Locomotive Factory and Diesel Locomotive Factory, as approved by CCEA and included in...

Joint Venture of NTPC

NTPC and Uttar Pradesh Rajya Vidyut Utpadan (UPRVUNL) have formed a joint venture company, namely, Meja Urja Nigam Pvt. Ltd. (incorporated on 02.04.2008) through 50:50 shareholding for undertaking the establishment and operation & maintenance of 2x660 MW (1320 MW) coal based thermal power project at Meja Tehsil in Allahabad. The award for Steam Generator Package was placed on 30.04.2012 and...

MoU with Mauritius to Strengthen Textiles Sector

A Memorandum of Understanding (MoU) was signed on February 7, 2012 between the Ministry of Textiles of the Republic of India and the Ministry of Industry, Commerce and Consumer Protection of the Republic of Mauritius for collaboration in the field of textiles and clothing. The MoU seeks to enhance the trade & economic relations by expanding business and cooperation in...

Plan Allocation of Rs.5,990 Crore During Xii Plan for Promoting Food Processing Industries

To implement various Schemes for promotion and development of Food Processing Sector, the Government has made a plan allocation of Rs. 5990 crore during the XII Plan. The Government had launched a Centrally Sponsored Scheme – National Mission on Food Processing (NMFP) during 2012-13, the first year of the XII Five Year Plan. The major programmes/Schemes covered under the NMFP...

"India has a great potential in tools and hardware"

CII's tool and hardware exhibition starts in Pune For a developing economy which is building itself to lead the world into the future, there is no better companion than tools and hardware. Used in construction, development, manufacture, repair and maintenance of most products, tools and hardware is an often taken-for-granted, yet indispensable industry. To give the industry its recognition and...

Defining role of Public Sector: An Imperative for Growth – Mr Praful Patel

There have been numerous discussions around the role of Government in business; nevertheless the role of the public sector has been pivotal in economic growth. "The role of public sector is essential for the growth of Indian economy and cannot be understated", said Mr. Praful Patel, Minister of Heavy Industries and Public Enterprises, at the CII Annual General Meeting &...

India and UAE Sign MoU on Air Services

India and United Arab Emirates (UAE) signed an MoU on Air Services, following the two-day bilateral negotiation at Abu Dhabi today. The UAE had urged India to allocate additional 40,000 seats per week, grant Goa, Pune, Amritsar and Lucknow as additional points of calls, remove the maximum cap prescribed from each point of call in-term of seats/ frequency per week...

Anand Sharma Launches 21 New Textiles Parks

The Union Minister for Commerce, Industry and Textiles, Shri Anand Sharma launched 21 New Textile Parks approved under Scheme for Integrated Textile Parks (SITP) here today. These new parks take the total number to 61 parks as 40 Parks were sanctioned earlier. The Scheme for Integrated Textiles Parks (SITP) has been instrumental in development of wide range of models for...

Clearances for carrying out E&P activities in 31 NELP Oil & Gas Blocks

The Cabinet Committee on Investment (CCI), at its meeting held today, cleared 25 E&P blocks for continued exploration of Oil and Gas, out of 31 E&P blocks where work had been stopped on account of security restrictions imposed by Ministry of Defence. Out of 31 blocks, 9 blocks have been fully cleared and 16 blocks have been cleared with specific...

MSMEs - Key Driver of the Country’s Industrial Growth

MSME Sector Contributes around 9% to GDP and accounts for around 45% of the Manufacturing Output and 36% of Total Value of Exports The President Confers National Awards to Micro, Small and Medium Enterprises The President of India, Shri Pranab Mukherjee presented the National Awards to the successful Micro, Small and Medium Enterprises and also to the Banks for Excellence...

Planning Commission and India@75 launch India Backbone Implementation Network

The Deputy Chairman of the Planning Commission, Mr Montek Singh Ahluwalia, today launched the India Backbone Implementation Network (IBIN). The purpose of IBIN is to improve implementation of policies, programs, and projects, which the 12th Five Year Plan has located as the critical necessity for accelerating more inclusive and faster growth. An analysis of projects and schemes has revealed that...

D Purandeswari inaugurates India Show in Panama

The Minister of State in the Ministry of Commerce & Industry, Dr. D Purandeswari today inaugurated the India Show in Panama. Speaking during the inauguration, the Indian Minister emphasised on enhanced cooperation and engagements between India and Panama. She exhorted the business leaders of both the sides to increase the trade and investments to next level. She also emphasised that...

India expected to export 7.5 MT of wheat by June 2013

Wheat exports from India is expected to touch a record high of 7.5 million tonnes (MT) in the current marketing year ending June 2013, on the back of record crop and larger carry over stocks, while many other exporting nations are expected to face tight supplies, according to a report by Food and Agriculture Organisation (FAO). Shipments from India remained...

Visa on Arrival Scheme Registers A Growth of 63 Percent

The Visa on Arrival (VOA) scheme of the Government for foreign tourists registered a growth of 63% during March, 2013. During the month, a total number of 2,107 VoAs were issued as compared to 1,287 VoAs issued during March, 2012. The following are the other important highlights of VoAs issued during March, 2013: During the period January to March...

Commodity-Wise Freight Revenue by Railways goes up by 22.95 Per Cent During Fiscal2012-13

The Railways have generated Rs. 84791.06 crore of revenue earnings from commodity-wise freight traffic during fiscal 2012-13 as compared to Rs. 68965.44 crore during the corresponding period last year, registering an increase of 22.95 per cent. Railways carried 1009.83 million tonnes of commodity-wise freight traffic during financial year 2012-13 as compared to 969.78 million tonnes carried during the corresponding period...

India and Finland to Explore Solar Energy Applications for Oil & Gas Projects

India-Finland have identified several key areas of collaboration in sustainable development for mutual benefits in the oil & gas sector. This includes specific projects in Solar Energy applications for Oil & Gas Projects, Biofuels & Algae based biofuels research and water and waste water management. Other areas indentified are Carbon capture & reformation, Finland`s Green Growth & Groove programme for...

Indo-Russian Co-Operation Agreement Signed

The Government of India and Government of Russian Federation have signed on April 10, 2013 in Moscow a Regulation defining the structure, functions and procedure of the Joint Commission which has been established by an Agreement signed on December 21, 2010 in New Delhi in the field of Emergency Management. Shri Sushilkumar Shinde, Union Minister of Home Affairs and Mr.Vladimir...

Indian Railways Carry 1009.73 Million tonnes of Freight during Fiscal 2012-13

Indian Railways have carried 1009.73 million tonnes of revenue earning freight traffic during the financial year 2012-13. The freight carried shows an increase of 39.95 million tonnes over the freight traffic of 969.78 million tonnes actually carried during the corresponding period last year, registering an increase of 4.12 per cent. During the month of March 2013, the revenue earning freight...

Railway Revenue Earnings up by 19.63 per cent during April 2012- March 2013

The total approximate earnings of Indian Railways on originating basis during 1st April 2012 to 31st March 2013 were Rs. 124814.87 crore compared to Rs. 104334.61 crore during the same period last year, registering an increase of 19.63 per cent. The total approximate goods earnings have gone up from Rs. 69674.13 crore during 1st April 2011 – 31st March 2012...

Foreign Tourist Arrivals Increases by About Three Percent

Foreign Exchange Earnings From Tourism also Increases Foreign Tourist Arrivals (FTAs) showed a growth of 2.8% in March,2013 over March,2012. The growth rate in Foreign Exchange Earnings(FEEs) from tourism in Rupee terms in March, 2013 over March, 2012 was 21%. The following are the important highlights regarding FTAs and FEEs from tourism during the month of March, 2013....

Tourism Ministry Approves Project from Maharashtra

Union Tourism Minister Shri K. Chiranjeevi has approved a tourism Project received from the State Government of Maharashtra. He has sanctioned Central Finance Assistance (CFA) to the tune of Rs. 43.87 crore for the development of Solapur Mega Circuit in Maharashtra. The Project will involve development of tourism facilities at Pandharpur, Akkalkot, Solapur and Tuljapur. An amount of Rs. 4.38...

India and Singapore Sign MoU on Air Services: Capacity Entitlements Enhanced by 10 Percent

India and Singapore signed a new Memorandum of Understanding (MoU) on bilateral air services arrangement in the presence of Civil Aviation Minister, Shri Ajit Singh and Minister of Transport of Singapore, Mr Lui Tuck Yew on April 2 in Singapore. It rationalizes the capacity entitlements of both countries in terms of seats per week in each direction with a route...

India and Tanzania signed pact to explore mineral wealth

India and Tanzania have signed an initial pact for forging an alliance to explore mineral wealth in the African nation. "Tanzania has huge mineral resources which are yet to be fully developed. I believe there is a possibility of joint venture for Indian companies with mining entities in Tanzania," said Mr Beni Prasad Verma, Steel Misiter in an official release....

Indian Railways enter one billion tonne select club after exceeding revised freight loading target for the year 2012-13

China, Russia& USA are the Other Members of this Club Railway Minister Congratulates Railwaymen for this Milestone Achievement The Indian Railways achieved yet another significant milestone when it entered the one billion tonne select club in freight movement joining Chinese, Russian and USA railways. In 2012-13, Indian Railways have been able to achieve an originating freight loading of...

India and Liechtenstein Sign Tax Information Exchange Agreement (TIEA)

India and Liechtenstein have signed a Tax Information Exchange Agreement (TIEA) today at Bern, Switzerland. The Agreement was signed by Ms Chitra Narayanan, Indian Ambassador in Switzerland from Indian side and Madame Doris Frick, Ambassador of Liechtenstein in Switzerland on behalf of Liechtenstein. Salient features of the agreement (TIEA) with Liechtenstein are: It is based on international standard of...

2,500 Model Schools to be Set up under PPP Mode from 2012-13 Onwards

The Government has approved setting up of 2,500 model schools under the Public-Private Partnership (PPP) mode in blocks which are not educationally backward. The implementation of this component has been initiated from 2012-13. The selected private entities will develop, design, build and operate these schools for which the Government will contribute to recurring cost on per capita basis for the...

Government Approves 12 Proposals of Foreign Direct Investment Amounting to Rs. 2609.27 Crore Approximately

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on February 13, 2013, the Government has approved 12 Proposals of Foreign Direct Investment amounting to Rs.2609.27 crore approximately. Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 13.02.2013 are as follows: 1. Following twelve (12) proposals...

Foreign Investment in Oil And Natural Gas Projects

As per extant Foreign Direct Investment (FDI) policy, FDI, up to 100%, is permitted, under the automatic route, for exploration activities of oil and natural gas fields, infrastructure related to marketing of petroleum products and natural gas, marketing of natural gas and petroleum products, petroleum product pipelines, natural gas/pipelines, LNG regasification infrastructure, market study and formulation and petroleum refining in...

Airport Authority of India Plans to Provide 5 More Instrument Landing Systems

Minister of State for Civil Aviation, Shri K. C. Venugopal informed Rajya Sabha today that at present, 66 Instrument Landing Systems(ILSs) are in operation at 53 Airports and 93 Visual Omni Ranges (VORs)/Distance Measuring Equipment (DME) are in operation for en-route and terminal navigation facility at and around the airports or on the routes all over India. Airports Authority of...

Renewable Energy Contributes 12.5% in total power generation

The present installed capacity of power generation in the country is about 2,12,829 MW which includes 26,920 MW from renewable sources. This constitutes 12.5% contribution of renewable in the total power generation installed capacity in the country. The Ministry has projected a capacity addition of about 29,800 MW from renewable energy sources during 12th Plan period. It is expected that...

Anand Sharma Raises Trade Target with Africa to USD 100 Billion

Indian Investments in Africa Close to USD 50 Billion The Union Minister for Commerce, Industry & Textiles Shri Anand Sharma today conveyed to the Trade Ministers of various African countries that despite the gloomy global environment, where there has been a contraction of trade, and with India’s own trade contracting with major trading blocks, “we are upwardly revising the...

15780 off-grid SPV Power Plants Sanctioned in 2012-13

The Ministry has sanctioned 15780 off-grid solar photovoltaic (SPV) power plants of total capacity of 13.25 MWp to be installed on individual houses in the country during 2012-13. Under the Off-grid and Decentralized Solar Applications Scheme of Jawaharlal Nehru National Solar Mission the Ministry of New & Renewable Energy is providing a subsidy of 30% of the project cost limited...

HPCL and Rajasthan Government sign MOU at Jaipur today for setting up a Refinery in Barmer

The Hindustan Petroleum Corporation Limited (HPCL) and the Government of Rajasthan signed a Memorandum of Understanding (MOU) at Jaipur today on setting up a refinery-cum-petrochemical complex in Barmer, Rajasthan. The project will be set up in joint venture between M/S HPCL, M/S Rajasthan State Refinery Limited and other equity partners. The signing ceremony was held in the distinguished presence of...

FDI worth 8569 crores in renewable energy sector

There has been Foreign Direct Investment (FDI) inflow to the tune of Rs.8569 Crores (US$ 1756 million) in the renewable energy sector during the last three years and current years (as on 31.12.2012). 100% FDI through automatic route is available to investors of Renewable Energy Projects. The government offers fiscal and monetary incentives to renewable energy developers to promote investment....

India-Czech to Collaborate in Advanced Manufacturing

Anand Sharma Invites Czech Automotive Companies to Nmizs Acknowledging the Czech expertise in the field of engineering sector, especially automotives, the Union Minister for Commerce, Industry & Textiles Shri Anand Sharma, in a meeting with Mr. Martin Kuba, Czech Minister of Industry & Trade, invited Czech investment into the proposed National Investment Manufacturing Zones in India. “Owing to the fact...

Government to Establish Cargo Terminals at 24 Airports

The Minister of State for Civil Aviation Shri K.C Venugopal informed that 24 airports have been identified for establishment of Cargo Terminals by carrying out minor modifications to the redundant Passenger Terminals. These airports are : State Airport Jammu & Kashmir Srinagar Punjab Amritsar Uttar Pradesh Lucknow, Varanasi...

India and Kuwait to endeavor finalizing joint venture projects in oil & gas sector

India and Kuwait today resolved to expedite discussions for promoting joint venture projects in various areas of oil & gas sector including those in the upstream & downstream activities. Speaking at a meeting with Sheikh Nasser Sabah AL-Ahmed AK-Jaber AL-Sabah, Minister of Amiri Diwan Affairs, Kuwait, here today, Dr. M.Veerappa Moily, Minister of Petroleum and Natural Gas said that the...

Foreign exchange earnings from tourism increases by nineteen per cent

The growth rate in Foreign Exchange Earnings(FEEs) from tourism in Rupee terms in February 2013 over February 2012 was 19.8%. Foreign Tourist Arrivals (FTAs) also showed a growth of 1.6% in February 2013 over February 2012. The following are the important highlights regarding FTAs and FEEs from tourism during the month of February 2013. Foreign Tourist Arrivals (FTAs): FTAs...

Tamil Nadu emerges as a most preferred investment destination for Japan

"Tamil Nadu has outperformed the rest of the country in the automotive sector and emerges as a most preferred investment destination for Japanese investment in the automotive sector", said Mr. L Ganesh, Past Chairman, CII - Southern Region & Chairman, Rane Group in his address at the Seminar on 'Tamil Nadu - A Potential Investment Location for Automotive Related Industry'...

Railway Revenue Earnings up by 23.95 per cent during the Period 11th – 20th February 2013

The total approximate earnings of Indian Railways on originating basis during the period from 11th to 20th February 2013 were Rs. 3712.40 crore compared to Rs. 2995.17 crore during the same period last year, registering an increase of 23.95 per cent. The total goods earnings were Rs. 2547.59 crore during the period from 11th to 20th February 2013 compared to...

India and Portugal sign Social Security Agreement

A Social Security Agreement (SSA) was signed by Shri Vayalar Ravi, the Minister of Overseas Indian Affairs and Mr. Paulo Sacadura Cabral Portas, Minister of State of Foreign Affairs of Portugal here today. Speaking on the occasion, Shri Ravi said about 75,000 Indians are living in Portugal, most of them are working as professionals and self-employed. The bilateral Social Security...

Government approves nine proposals of foreign direct investment amounting to about Rs 1140.14 crore

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on January 21, 2013, the Government has approved nine (9) Proposals of Foreign Direct Investment amounting to Rs.1140.14crore approximately. In addition, one proposal viz., M/s Ingka Holding Overseas B.V., amounting to Rs.10,500 crore, has been recommended for consideration of Cabinet Committee on Economic Affairs (CCEA)....

Government set to save 250 MW power through procurement of only efficient appliances

In its endeavour to ensure energy security of the nation, with the initiatives of the Hon’ble Minister of State for Power (Independent Charge) and the Secretary (Power), Bureau of Energy Efficiency (BEE), Ministry of Power has been undertaking several measures to cope up with the ever increasing energy demand of the country. One of such effort is to procure efficient...

Government to introduce investment allowance of 15 per cent for high value investments

Incentives for Semiconductor Wafer Fab Manufacturing The Finance Minister, Shri P Chidambaram in his Budget speech in Lok Sabha today said that to attract new investment and to quicken the implementation of projects, I propose to introduce an investment allowance for new high value investments A company investing Rs. 100 crore or more in plant and machinery during the...

India has highest increase in share of services in GDP at 8.1%

A comparison of the services performance of the top 15 countries for the 11 year period from 2001 to 2011 shows that the increase in share of services in GDP is the highest for India with 8.1 percentage points. These 15 top countries include major developed countries alongwith Brazil, Russia, India and China. While China's highest services compound annual growth...

NTPC signs MoU with CREDA for geothermal project

National Thermal Power Corporation Limited (NTPC) has signed a Memorandum of Understanding (MoU) with Chhattisgarh Renewable Energy Development Agency (CREDA) to explore the potential of geothermal resources and subsequently implement geothermal project at Tatapani in Chhattisgarh. The MoU was signed by Shri Ajit Kumar, Executive Director (Business Development), NTPC and Shri Shailendra Kumar Shukla, Director, CREDA in the presence of...

Indian Railways and BHEL Sign MOU for setting up of Memu Coaches Manufacturing facility at Bhilwara

In the presence of the Minister of Railways Shri Pawan Kumar Bansal and the Minister for Heavy Industries & Public Enterprises Shri Praful a Memorandum of Understanding (MoU) was signed here today between Indian Railways and Bharat Heavy Electricals Ltd (BHEL) for setting up of Greenfield MEMU coaches manufacturing facility by BHEL at Bhilwara in Rajasthan. The signatories to the...

10,431 MW Renewable Energy capacity added during last 3 years against a target of 9623 MW

A capacity addition of 10,431 MW against a target of 9623 MW has been achieved from renewable energy sources during the last 3 years. The total installed capacity of power generation from renewable energy in the country is 26,920 MW. During 2012-13, a capacity addition of 2005.57 MW has been achieved till 31.01.2013 against the target of 4125 MW. State-wise...

Merger of Bharat Heavy Plate & Vessels Limited with Bharat Heavy Electricals Limited

The Union Cabinet today gave its approval for merger of Bharat Heavy Plate & Vessels Ltd. (BHPV) Vishakhapatnam with Bharat Heavy Electricals Limited (BHEL), New Delhi. The merger will facilitate BHPV to become a unit of BHEL. BHPV would be able to participate in tenders, obtain orders and attract best vendors for procuring materials / capital goods. Background Bharat Heavy...

Implementation of North Karanpura Super Thermal Power Project by NTPC in Jharkhand

The Cabinet Committee on Investment has cleared the proposal of the Ministry of Power for setting up of the North Karanpura Super Thermal Power Plant (NKSTPP) (3 x 660 MW) by the National Thermal Power Corporation (NTPC) in the vicinity of Tandwa town, district Chatra in Jharkhand. Safeguards according to the recommendation of the Chaturvedi Committee and accepted by the...

UK PM’s visit inks MoU between Confederation of Indian Industry (CII) and Association of Colleges India (AoC India) or CII and AoC India ink MoU during David Cameron, PM UK’s visit

The Confederation of Indian Industry (CII) and Association of Colleges, India (AoC India) have embarked on a landmark MoU with the objective of establishing partnerships between UK FE Colleges and representatives of key Indian Industries to facilitate best practices approach on education, training and skills development. “We welcome the MoU between CII and AoC India at such a historic moment...

First meeting of India-UAE high level task force on investments held in Abu Dhabi

The inaugural meeting of the India-UAE High Level Task Force on Investments was held today at the Emirates Palace Hotel in Abu Dhabi. More than 50 government and private sector representatives from India and the UAE were present. The high-level taskforce, co-chaired by the Union Minister for Commerce, Industry & Textiles Shri Anand Sharma and HH Sheikh Hamed bin Zayed...

MoU signed between NACO and Ministry of Shipping

As a part of its efforts to mainstream issues relating to HIV/AIDS, the Department of AIDS Control, Ministry of Health and Family Welfare signed the first MoU with the Ministry of Shipping yesterday. It was signed by Shri. Lov Verma, Secretary, Department of AIDS Control, and Shri Pradeep K Sinha, Secretary, Ministry of Shipping. According to the MoU, NACO will...

India and France Sign M.O.U. to Strengthen Cooperation in Railway Sector

A Memorandum of Understanding (MoU) was signed on here on 14.2.2013 between the Ministry of Railways, Government of India and the Société Nationale des Chemins de Fer Français (SNCF), the French National Railways, for Technical cooperation in the field of Railways. The MoU was signed by Shri Vinay Mittal, Chairman, Railway Board, from Indian side and Mr G.Pepy, Chairman and...

India and Japan to strengthen cooperation in tourism sector

India and Japan have resolved to strengthen cooperation in tourism sector. This was decided at a meeting between the visiting Japanese Senior Vice-Minister of Tourism, Mr. Hiroshi Kajiyama and Union Tourism Minister Shri K Chiranjeevi here today. It was also decided that both the countries will identify areas for working together and explore new opportunities in tourism sector especially in...

Shri Kapil Sibal: India and Japan can Partner using their Strengths in Software and Hardware

India and Japan can partner using their strengths of Indian expertise in software and Japanese expertise in hardware, and explore the upcoming markets. For this end, dedicated teams between the two countries would be required. This was stated by Shri Kapil Sibal, Union Minister for Communications and IT while meeting with Mr. Toshimitsu Motegi, the Japanese minister for Economy, Trade...

Ministry of Steel Initiative to Strengthen Cooperation in Steel & Mining with Brazil

The Union Minister of Steel, Shri Beni Prasad Verma recently led a delegation to Brazil to strengthen cooperation between the two nations in steel & mining. During the visit, a Letter of Intent (LoI) was signed by the Secretary, Ministry of Steel on behalf of Government of India and by the Executive Secretary (Mines & Energy) on behalf of the...

Protocol Amending the Convention and the Protocol between the Republic of India and the Kingdom of Sweden signed for the Avoidance of Double Taxation and for Prevention of Fiscal Evasion with Respect to Taxes on Income and on Capital

The Convention and Protocol between the Government of the Republic of India and the Government of the Kingdom of Sweden for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital (DTAC) was first signed here on 24th June 1997. In April 2011, both India and Sweden concluded a Protocol...

Foreign Exchange Earnings from Tourism Increases by Twenty Percent

The growth rate in Foreign Exchange Earnings(FEEs) from tourism in Rupee terms in January 2013 over January 2012 was 20.6%. Foreign Tourist Arrivals (FTAs) also showed a growth of 2.6% in January 2013 over January 2012. The following are the important highlights regarding FTAs and FEEs from tourism during the month of January 2013. Foreign Tourist Arrivals (FTAs): FTAs...

Net direct tax collections figures for April-January 2012-13 up by 12.49 per cent

Gross Direct Tax collection during April-January of the current fiscal (F.Y. 2012-13) was up by 7.02 percent at Rs. 4,55,125 crore as against Rs. 4,25,274 crore in the same period last fiscal. While gross collection of Corporate Taxes was up 3.71 percent (Rs. 2,96,451 crore against Rs. 2,85,837 crore last year), gross collection of Personal Income Tax was up by...

Commerce Secretary inaugurates India's Trade Portal

Shri S R Rao, Secretary, Department of Commerce today inaugurated the India's Trade Portal here. The Trade Portal has been developed to facilitate India's exporters in trading which may result in the expansion of trade. The Portal offers Indian exporters and importers respectively a comprehensive guidance for concluding international trade transactions successfully with a specific focus on Indian traders trading...

New strategy for promoting farm mechanisation during 12th Five Year Plan

Ministry of Agriculture is promoting a new strategy for farm mechanization through its various schemes and programmes. A dedicated Sub-Mission on Agricultural Mechanization has been proposed for the XIIth Plan which includes custom-hiring facilities for agricultural machinery as one of its major components. The Sub-Mission aims at catalyzing an accelerated but inclusive growth of agricultural mechanization in India. Its focus...

Approval for ONGC Videsh Limited's acquisition of participating interest in ACG Fields in Caspian Sea sector and BTC pipeline in Azerbaijan

The Cabinet Committee on Economic Affairs today gave its approval to authorize ONGC Videsh Limited (OVL) to acquire Participating Interest (PI) owned by Hess Corporation's wholly-owned subsidiaries in the upstream and midstream oil and gas assets in Azerbaijan comprising 2.7213 percent PI in the Azeri Chirag Guneshli (ACG) contract area and 2.36 percent PI in Baku-Tbilisi-Ceyhan (BTC) pipeline for an...

India and Spain agrees to Enhance Research, Cooperation and Technologies In the Field of Renewable Energy

Dr. Farooq Abdullah, Minister for New & Renewable Energy today met Spanish delegation led by Ms. Carmen Vela Olmo, Minister of State for Research, Development and Innovation. Both the leaders agreed to enhance research, cooperation and technologies in the field of Renewable Energy. Besides, research projects in the area of forecasting of wind power and fabrication of cost effective solar...

14th Session of India - Australia Joint Ministerial Commission convenes in Delhi

The 14th Session of the India - Australia Joint Ministerial Commission convened in New Delhi on 29 January, 2013. The Commission was co-chaired by Shri Anand Sharma, Minister of Commerce, Industry and Textiles, India and the Dr. Craig Emerson MP, Australian Minister for Trade and Competitiveness and Minister Assisting the Prime Minister on Asian Century Policy. The Ministers welcomed the...

4 FDI Proposals Amounting to Rs. 280.00 Crore Approved by FIPB

Further to Para 5 of the Press Release dated January 11, 2013 regarding Foreign Direct Investment (FDI) proposals approved by FIPB, wherein it was stated that decision in case of the Five (5) proposals will be communicated separately, the Central Government has now approved the following Four (4) proposals out of them amounting to Rs. 280.00 crore approximately. Following 4...

Anand Sharma Launches eBiz Portal

Portal to Provide Secure one Stop Shop for all Investment and Business Related Information and Services 24X7 The Union Minister for Commerce, Industry & Textiles Shri Anand Sharma launched an eBiz portal at the CII Partnership Summit in Agra today. The portal is India’s Government-to-Business (G2B) portal developed by Infosys in a Public Private Partnership (PPP) Model. “This Mission Mode...

11 Foodgrain Godowns to be Construced in Assam

The Centre has proposed to construct 11 new food grains godowns at different locations in the state of Assam to strengthen Public Distribution System. Besides this additional storage capacity will also be crated at three existing locations in the state. These godown to be constructed or expanded by the Food Corporation of India (FCI), will add food grain storage capacity...

Bilateral Co-Operation Understanding in Water Resources Development and Management with Government of Rwanda

India and Rawanda have singed a Memorandum of Understanding (MoU) on bilateral co-operation in Water Resources Development and Management. From Indian side it was Union Water resources Minister Shri Harish Rawat while from Government of Rawanda it was Dr. (Mrs.), Agnes M. KALIBATA, Minister of Agriculture and Animal Resources who were the signatories in a function held here in New...

Energy & Petroleum Minister of Niger calls on MoS Petroleum Smt. P. Lakshmi

India to Send Delegation of Experts to Explore Possibilities of Cooperation in oil sector Smt. P. Lakshmi, Minister of State for Petroleum & Natural Gas has said that India will soon send a delegation of experts to Niger for exploring possibilities of cooperation between two countries in the hydrocarbon sector. Responding to the proposal of her counterpart Mr. Foumakore...

Second AEPC Stakeholder Forum under Project DISHA Convenes

The 2nd Stakeholder' Consultation/ AEPC Stakeholder Forum meet convenes here today. The second stakeholder consultation was organized to discuss and consult the DISHA facilitation programme methodology being implemented in Garment Manufacturing Factories in India. The meeting was presided-over by Shri V. Srinivas, IAS, Jt. Secretary (Exports), Ministry of Textiles. Chairman AEPC Dr. A Salthivel, Ashok Logani, Chairman DISHA Sub- committee,...

International Tourism Mart Inaugurated at Guwahati

Chiranjeevi calls for Accelerating the Rate of Growth of Foreign Tourist Arrivals The International Tourism Mart organized by the Ministry of Tourism was inaugurated at Guwahati today amidst cultural fanfare by the Governor of Assam Shri Janaki Ballav Patnaik. Speaking on the occasion Union Tourism Minister Shri K Chiranjeevi said that overwhelming response to the Mart shows the growing...

Anand Sharma Announces Rs. 55 Crores Scheme for Agrotextiles in Northeast

Allocation for Technical Textiles in 12th FY Plan to be Five Times more than the Allocation of Previous Plans, says Sharma The Union Minister for Commerce, Industry & Textiles Shri Anand Sharma today inaugurated the second edition of TechnoTex-2013 here in Pragati Maidan. TechnoTex-2013 is an annual and premier event jointly organised by the Ministry of Textiles and FICCI,...

Four FDI Proposals Amounting to Rs. 1286.75 Crore Approved by FIPB

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on December 31, 2012, the Central Government has approved four (04) proposals of Foreign Direct Investment (FDI) amounting to Rs. 1286.75 crore approximately. The following four (04) proposals have been approved: Sl. No. Name of the applicant Particulars of the proposal FDI/NRI...

Approval for Budgetary Ceiling for Annuity Payments for PPP Projects

The Cabinet Committee on Economic Affairs has approved the recommendations made by the Inter-Ministerial Task Force under the chairmanship of Member (B.K. Chaturvedi), Planning Commission on budgetary ceilings for annuity commitments under Public Private Partnership (PPP) projects across sectors. The recommendation of the committee would ensure that future budgetary options do not get restricted due to annuity payments for PPP...

Railway Revenue Earnings up by 19.86 per cent during April- December 2012

The total approximate earnings of Indian Railways on originating basis during 1st April to 31st December 2012 were Rs. 89906.46 crore compared to Rs. 75009.17 crore during the same period last year, registering an increase of 19.86 per cent. The total goods earnings have gone up from Rs. 49868.95 crore during 1st April – 31st December 2011 to Rs. 62413.41...

Visa on Arrival Scheme becomes more Popular Twenty Six Percent Growth in 2012

The “Visa on Arrival” (VoA) Scheme of the government has increasingly become popular with the tourists. The scheme registered a growth of 26 % in the year 2012 over the figures of 2011. A total number of 16,084 VoAs were issued during 2012 as compared to 12,761 VoAs issued during 2011. The highest number of 4604 VoAs were issued to...

14 FDI Proposals amounting to Rs. 1310.60 Crore Approved by FIPB

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on December 21, 2012, the Government has approved 14 proposals of Foreign Direct Investment (FDI) amounting to Rs. 1310.60 crore approximately. Following fourteen (14) proposals have been approved. Sl. No. Name of the applicant Particulars of the proposal FDI/NRI inflows(` In crore)...

Oil Ministers of India and Kazakhstan Sign Inter-Government Protocol for enhancing Mutual Corporation

PRESS NOTE The 10th meeting of the India-Kazakhstan Inter-Governmental Commission (IGC) on Trade, Economic, Scientific, Technological, Industrial and Cultural was held during 8-9 January 2013 in New Delhi. Dr. M. Veerappa Moily, Minister of Petroleum and Natural Gas, led the delegation from India. The Kazakh side at the IGC meeting was led by Mr. Bulat Akchulakov, Vice Minister of Oil...

Net Direct Tax Collections Figures for April-December 2012-13 Up by 13.70 Percent at Rs. 3,68,322 Crore as Against Rs. 3,23,956 Crore in the Same Period Last Year

Gross Direct Tax collections during April-December of the Financial Year 2012-13 was up by 8.01 percent and stood at Rs. 4,28,278 crore as against Rs. 3,96,530 crore in the same period last year. While gross collections of Corporate Taxes showed an increase of 4.94 percent and stood at Rs. 2,83,170 crore as against Rs. 2,69,850 crore during the same period...

Indian Economy is Growing says Anand Sharma

Shri. Anand Sharma, Minister of Commerce and Industry stated that Indian economy is growing and despite the economic crisis that engulfed the world. He was addressing a plenary session at 11th Pravasi Bharatiya Divas today in Kochi. He said that the country’s GDP will grow in the coming years, generating new job opportunities. The FDI policy is made more rational...

8th North East Business Summit Begins

The Union Minister of State (Independent Charge) for Development of North Eastern Region (DoNER) Shri Paban Singh Ghatowar has inaugurated two-day 8th North East Business Summit here today. Addressing on the occasion, Shri Ghatowar reiterated that it is the most opportune time for North East to capitalize on the growing trade relation with the bordering nations and emerge as a...

Tourism Minister Calls for Strengthening of Ties with Vietnam

Union Tourism Minister Shri K Chiranjeevi has said that Vietnam is a pillar of India’s Look East Policy and India gives high priority to strengthening our engagement with Vietnam both bilaterally and within the framework of ASEAN. Addressing a seminar on Trade and Investment organized by the Embassy of India in Hanoi today in coordination with Ministry of Industry and...

TRAI Releases Recommendations on “Terms and Conditions of unified License (Access Services)” on Reference made by DoT

The Telecom Regulatory Authority of India (TRAI) has released the recommendations on “Terms and Conditions of Unified License (Access Services)” on the reference made by the DoT. The Department of Telecommunications (DoT) through its letter no. 20-281/2010-AS-I dated 21.12.2012 referred the ‘Terms and Conditions for Unified License (Access Services)” to TRAI. In the letter of DoT it is stated that...

Ministry of Tourism to Set-up multi-Lingual helpline for Tourists

Union Tourism Minister Shri K. Chiranjeevi, has approved the setting-up of a multi-lingual helpline to provide general information and assistance to tourists. To begin with, the helpline will be in the languages of the important source countries besides Hindi and English. The Minister has directed that the toll free helpline should be accessible from everywhere in India and should start...

100% FDI Permitted in Power Sector

The Minister of State (Independent Charge) for Power Shri Jyotiraditya Scindia informed Lok Sabha today that as per extant policy, Foreign Direct Investment (FDI) up to 100% is permitted in the power sector, under the automatic route, for: Generation and transmission of electric energy produced in hydro electric, coal/lignite based thermal, oil based thermal and gas based thermal power...

CII-SR signs MoU with St. John Ambulance (India) for providing First Aid training to industries

A Memorandum of Understanding (MoU) was signed between Confederation of Indian Industry, Southern Region and St. John Ambulance (India), Tamil Nadu State and for launching the First Aid Training to Industries in the presence of His Excellency Dr. K Rosaiah, The Governor of Tamil Nadu at Raj Bhavan here on Monday. During his special address, Dr. K. Rosaiah, His Excellency,...

Indian Institute of Corporate Affairs Signs MoU with National Law School of India University

A landmark Memorandum of Understanding(MoU) was inked between the IICA and the NLSIU here in New Delhi today. Prof. R Venkata Rao, Vice Chancellor, National Law School of India University; Dr Bhaskar Chatterjee, Director General & CEO, Indian Institute of Corporate Affairs; Shri Dhanendra Kumar, Principal Adviser, Indian Institute of Corporate Affairs, Shri Chandra Prakash, Joint Secretary in the Ministry...

The 12th Plan Aims at Ensuring Food Security and Improving the Lot of Farmers – Sharad Pawar

Agriculture Minister’s Address at the 57th Meeting of the National Development Council A number of new initiatives have been proposed in the 12th Five Year Plan for retaining youth in Agriculture Sector and funding for research and innovations in the sector. The twin objectives of the plan are ensuring food security and improving the lot of farmers through higher...

12 FDI Proposals Amounting to Rs. 802 crore Approved by FIPB

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on November 20, 2012, the Central Government has approved 12 Proposals of Foreign Direct Investment (FDI) amounting to Rs.802.07 crore approximately. In addition, one proposal viz. M/s Ingka Holding Overseas B.V., amounting to Rs.4200 crore, has been recommended for consideration of Cabinet Committee on Economic Affairs...

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