So you are saying BMW and adidas fakes are made by Indians too?? Atleast that`s what you are trying to imply..
Indian Economy-News & Updates
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So you are saying BMW and adidas fakes are made by Indians too?? Atleast that`s what you are trying to imply..
Indian exports grow 10.1%
NEW DELHI India’s exports grew by 10.1 per cent year-on-year in January to $25.34 billion despite weak demand in the western markets, reversing a declining trend shown since the peak of July 2011.
However, the exports growth rate was a marginal increase over December 2011. The shipments had grown by 6.7 per cent year-on-year in December 2011.
Imports grew at a faster rate of 20.25 per cent to $40.1 billion, leaving a trade deficit of $14.76 billion, according to the Indian Commerce Ministry data released on Thursday.
For the cumulative April-January period, exp-orts aggregated to $242.79 billion showing a healthy growth of 23.47 per cent.
Imports during the 10-month period stood at $391.45 billion, an increase of 29.4 per cent. The trade gap aggregated to $148.66 billion.
The situation was also not rosy in terms of foreign direct investment (FDI).
The FDI in India declined about 33 per cent to $1.35 billion (Rs71.24 billion) in December 2011, compared to the same month in 2010, an official said.
FDI inflows in December 2010 totalled $2.01 billion (Rs 90.94 billion).
The cumulative figure has crossed $19.43 billion which came in the full fiscal of 2010-11, according to the official.
“Despite decline in December 2011, FDI will cross $30 billion...but government should take steps to boost investors confidence,” an economist said.
India’s Commerce Secretary Rahul Khullar has said that the exports and imports may touch about $300 billion and $460 billion, respectively. The balance of trade would be around $160 billion. He has also cautioned that the exporters community would face demand problem in 2012-13 as well.
Oman Tribune - the edge of knowledge
NEW DELHI India’s exports grew by 10.1 per cent year-on-year in January to $25.34 billion despite weak demand in the western markets, reversing a declining trend shown since the peak of July 2011.
However, the exports growth rate was a marginal increase over December 2011. The shipments had grown by 6.7 per cent year-on-year in December 2011.
Imports grew at a faster rate of 20.25 per cent to $40.1 billion, leaving a trade deficit of $14.76 billion, according to the Indian Commerce Ministry data released on Thursday.
For the cumulative April-January period, exp-orts aggregated to $242.79 billion showing a healthy growth of 23.47 per cent.
Imports during the 10-month period stood at $391.45 billion, an increase of 29.4 per cent. The trade gap aggregated to $148.66 billion.
The situation was also not rosy in terms of foreign direct investment (FDI).
The FDI in India declined about 33 per cent to $1.35 billion (Rs71.24 billion) in December 2011, compared to the same month in 2010, an official said.
FDI inflows in December 2010 totalled $2.01 billion (Rs 90.94 billion).
The cumulative figure has crossed $19.43 billion which came in the full fiscal of 2010-11, according to the official.
“Despite decline in December 2011, FDI will cross $30 billion...but government should take steps to boost investors confidence,” an economist said.
India’s Commerce Secretary Rahul Khullar has said that the exports and imports may touch about $300 billion and $460 billion, respectively. The balance of trade would be around $160 billion. He has also cautioned that the exporters community would face demand problem in 2012-13 as well.
Oman Tribune - the edge of knowledge
A very good development, congrats to the team ... 
Treating blindness caused by burns using limbal stem cells harvested from the undamaged eye of the same patient has now become cheaper, easier and safer. Results of a pilot study of the SLET (simplified technique of limbal transplantation) technique conducted at L.V. Prasad Eye Institute on six patients, and published recently in the British Journal of Ophthalmology provides the proof.
Blindness arises when burns permanently damage the limbal stem cells found in the eye and causes loss in corneal transparency. In such cases, the stem cells are harvested from the healthy eye and transplanted to the damaged eye. There are currently two ways of using limbal stem cells to cure blindness caused by burns.
One is to directly transplant the stem cells to the damaged eye. The other technique — cultivated limbal epithelial transplantation (CLET) — is to remove a smaller portion (2 mm by 2 mm) of the limbus containing the stem cells and increase (expand) the cells in the laboratory and then transplant them to the damaged eye. While both methods are good at restoring vision in the damaged eye, they have their own disadvantages.
In the case of direct transplantation — CLAU (conjunctival limbal autografting), almost 50 per cent of the limbus (6 mm to 8 mm length of the limbus), has to be removed from the healthy eye. Excess removal of stem cells from the healthy eye can permanently damage it.
“At the moment, there is no way of knowing the amount of limbal stem cells found in an [undamaged] eye,” said Dr. Virender S. Sangwan, Head of the Cornea and Anterior Segment Services at L.V. Prasad Eye Institute, Hyderabad. Doctors would come to know of the “deficiency” in the healthy eye in two to three months after the operation. “But how the compromised stem cells will manifest in stressful conditions like an eye infection will be known later,” he explained.
Though the Institute started off by doing direct transplantation (CLAU), it has turned its attention to the safer CLET alternative.
Though this procedure is safer, it is expensive and patients have to visit the hospital twice, one to remove the limbus and the other to transplant the expanded stem cells.
The new technique (SLET) developed recently by Dr. Sangwan and his team at the Institute and Dr. Sheila MacNeil at the University of Sheffield, UK combines the best of both methods.
While only a small portion of the tissue is removed from the healthy eye (as in the case of CLET), the stem cell expansion takes place not in the lab but in the damaged eye itself.
This ensures that the healthy eye is never damaged, the procedure is cheaper and there is less risk of contamination (as the expansion does not take place in a lab). “It would cost only half the earlier procedure (CLET),” he stressed.
If the medium used in the lab provides nutrients for the stem cells, the tear cells do the same job in this case.
The doctors began trying the new technique during the later part of 2009 and performed most of the operations in 2010 and 2011. Altogether 15 cases have been done so far, of which ten patients have already completed six months of observation time post operation.
The procedure
The procedure is quite simple and takes about an hour to perform. In this, the damaged eye is first cleaned and an amniotic membrane is pasted on the cornea using biological glue. The 2 mm by 2 mm limbal tissue harvested from the healthy eye is then cut into eight to nine pieces and placed them on the membrane. Glue is then applied on the cut limbal tissue so that it sticks to the membrane. The eye is then bandaged using soft contact lens.
“The amniotic membrane acts as a scaffold on which the stem cells grow and expand,” Dr. Sangwan explained. “It took the same time [as the CLET technique] for the damaged cornea to be repaired.”
So simple is the procedure that it can be widely adopted by specialists across the country. “With extra training, cornea specialists can perform the operation,” he assured.
The Hindu : Health / Medicine & Research : Novel technique using stem cells revives damaged eye
Treating blindness caused by burns using limbal stem cells harvested from the undamaged eye of the same patient has now become cheaper, easier and safer. Results of a pilot study of the SLET (simplified technique of limbal transplantation) technique conducted at L.V. Prasad Eye Institute on six patients, and published recently in the British Journal of Ophthalmology provides the proof.
Blindness arises when burns permanently damage the limbal stem cells found in the eye and causes loss in corneal transparency. In such cases, the stem cells are harvested from the healthy eye and transplanted to the damaged eye. There are currently two ways of using limbal stem cells to cure blindness caused by burns.
One is to directly transplant the stem cells to the damaged eye. The other technique — cultivated limbal epithelial transplantation (CLET) — is to remove a smaller portion (2 mm by 2 mm) of the limbus containing the stem cells and increase (expand) the cells in the laboratory and then transplant them to the damaged eye. While both methods are good at restoring vision in the damaged eye, they have their own disadvantages.
In the case of direct transplantation — CLAU (conjunctival limbal autografting), almost 50 per cent of the limbus (6 mm to 8 mm length of the limbus), has to be removed from the healthy eye. Excess removal of stem cells from the healthy eye can permanently damage it.
“At the moment, there is no way of knowing the amount of limbal stem cells found in an [undamaged] eye,” said Dr. Virender S. Sangwan, Head of the Cornea and Anterior Segment Services at L.V. Prasad Eye Institute, Hyderabad. Doctors would come to know of the “deficiency” in the healthy eye in two to three months after the operation. “But how the compromised stem cells will manifest in stressful conditions like an eye infection will be known later,” he explained.
Though the Institute started off by doing direct transplantation (CLAU), it has turned its attention to the safer CLET alternative.
Though this procedure is safer, it is expensive and patients have to visit the hospital twice, one to remove the limbus and the other to transplant the expanded stem cells.
The new technique (SLET) developed recently by Dr. Sangwan and his team at the Institute and Dr. Sheila MacNeil at the University of Sheffield, UK combines the best of both methods.
While only a small portion of the tissue is removed from the healthy eye (as in the case of CLET), the stem cell expansion takes place not in the lab but in the damaged eye itself.
This ensures that the healthy eye is never damaged, the procedure is cheaper and there is less risk of contamination (as the expansion does not take place in a lab). “It would cost only half the earlier procedure (CLET),” he stressed.
If the medium used in the lab provides nutrients for the stem cells, the tear cells do the same job in this case.
The doctors began trying the new technique during the later part of 2009 and performed most of the operations in 2010 and 2011. Altogether 15 cases have been done so far, of which ten patients have already completed six months of observation time post operation.
The procedure
The procedure is quite simple and takes about an hour to perform. In this, the damaged eye is first cleaned and an amniotic membrane is pasted on the cornea using biological glue. The 2 mm by 2 mm limbal tissue harvested from the healthy eye is then cut into eight to nine pieces and placed them on the membrane. Glue is then applied on the cut limbal tissue so that it sticks to the membrane. The eye is then bandaged using soft contact lens.
“The amniotic membrane acts as a scaffold on which the stem cells grow and expand,” Dr. Sangwan explained. “It took the same time [as the CLET technique] for the damaged cornea to be repaired.”
So simple is the procedure that it can be widely adopted by specialists across the country. “With extra training, cornea specialists can perform the operation,” he assured.
The Hindu : Health / Medicine & Research : Novel technique using stem cells revives damaged eye
)??^^^ old news, by the nice troliing
---------- Post added at 10:13 PM ---------- Previous post was at 10:10 PM ----------
Hero MotoCorp to invest Rs 1,200 cr in Gujarat plant
Hero MotoCorp is expected to announce plans to set up its fourth plant in Gujarat in March itself, even as talks speed up for a fifth facility likely at Karnataka.
Apart from feeding growing local demand, additional capacity would help the two-wheeler market leader to meet its $1 billion export target by 2020.
In a deal that has already been “finalised with the Gujarat Government,” the company is likely to invest about Rs 1,200 crore for a two-million-unit capacity plant set up over two phases, sources close to the development said.
Chosen because of the proximity to ports, the location is a 300-acre plot close to General Motors' car plant in Halol, Central Gujarat.
“Within this month, I should be making the announcement for the new plant,” Mr Pawan Munjal, Managing Director & CEO of Hero MotoCorp, told Business Line. “It will get to those levels (as Haridwar plant's 2.5 million unit annual capacity), but will have modular capacities.”
For the fifth plant expected to focus on the south Indian market, a 500-acre plot near Tata Motors' plant at Dharwad, Karnataka, has been offered by the Karnataka Government, State officials said.
This comes after months of discussions that company officials reportedly held with many States such as Tamil Nadu, Rajasthan and Himachal Pradesh.
While the fresh capacity is expected to come only by about 2014 – the same time when Hero's first self-developed models are launched, the company is also expanding yearly production beyond seven million units at existing plants in Haridwar, Gurgaon and Dharuhera. This will help it stay ahead of the Indian two-wheeler industry, which is set to grow at a CAGR of 14 per cent over the next five years.
“Some investments are being made at existing plants, so capacity should go up to over 7.4 million units in the existing operations. We're also working on a centre for after markets parts,” Mr Munjal said.
Business Line : Companies News : Hero MotoCorp to invest Rs 1,200 cr in Gujarat plant
---------- Post added at 10:13 PM ---------- Previous post was at 10:10 PM ----------
Hero MotoCorp to invest Rs 1,200 cr in Gujarat plant
Hero MotoCorp is expected to announce plans to set up its fourth plant in Gujarat in March itself, even as talks speed up for a fifth facility likely at Karnataka.
Apart from feeding growing local demand, additional capacity would help the two-wheeler market leader to meet its $1 billion export target by 2020.
In a deal that has already been “finalised with the Gujarat Government,” the company is likely to invest about Rs 1,200 crore for a two-million-unit capacity plant set up over two phases, sources close to the development said.
Chosen because of the proximity to ports, the location is a 300-acre plot close to General Motors' car plant in Halol, Central Gujarat.
“Within this month, I should be making the announcement for the new plant,” Mr Pawan Munjal, Managing Director & CEO of Hero MotoCorp, told Business Line. “It will get to those levels (as Haridwar plant's 2.5 million unit annual capacity), but will have modular capacities.”
For the fifth plant expected to focus on the south Indian market, a 500-acre plot near Tata Motors' plant at Dharwad, Karnataka, has been offered by the Karnataka Government, State officials said.
This comes after months of discussions that company officials reportedly held with many States such as Tamil Nadu, Rajasthan and Himachal Pradesh.
While the fresh capacity is expected to come only by about 2014 – the same time when Hero's first self-developed models are launched, the company is also expanding yearly production beyond seven million units at existing plants in Haridwar, Gurgaon and Dharuhera. This will help it stay ahead of the Indian two-wheeler industry, which is set to grow at a CAGR of 14 per cent over the next five years.
“Some investments are being made at existing plants, so capacity should go up to over 7.4 million units in the existing operations. We're also working on a centre for after markets parts,” Mr Munjal said.
Business Line : Companies News : Hero MotoCorp to invest Rs 1,200 cr in Gujarat plant
dearone4u_22
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A bank clerk of public sector gets a salary of 25-35k ...yet he wants more And work...... it takes them 5-6 hr to make a simple demand draft .......these blood sucking parasites Gov is doing right thing by Privatising And Bring in Contract system which is performance based...This Union Are opposing it cause they wil loose their Easy Money And for Once in their life they will have to work And be Answerable ....
MOd u can delete this post if you find it Inapp
India is now the 3rd largest economy in PPP terms.... check out wikipedia
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Business Line : Industry & Economy / Logistics : Land identified for setting up aviation park in Chennai
CHENNAI, MARCH 7:
Will the long-overdue aero park in Chennai finally take off? Land has been identified near the existing airport and the proposed new airport in Chennai to set up a 1,000-acre aviation park.
It's been four years since the proposal was mooted but the project has been mired in issues of finding land and red-tape, said Mr Venkatesh Chandrasekharan Co-Chairman, Manufacturing Taskforce, Confederation of Indian Industry, which has been supporting this initiative from 2008.
ADEQUATE LAND
“The problem is not land availability issue but more about finding adequate land in a single place. A project like this needs a critical mass of at least 1,000 acres,” said Dr Kota Harinarayana, Dr D S Kothari DRDO Chair, Aeronautical Development Agency. Mr Chandrasekharan said around 700 acres has been identified near the proposed airport in Sriperumbudur and 200-odd acres near the existing airport.
The park will house manufacturing units, training centres and an MRO facility as well. The project, which would entail an investment of $10 billion, is expected to provide one lakh jobs.
DRAFT POLICY
“TIDCO, which had engaged L&T as consultants, has submitted a draft policy to the State Government,” said Mr Chandrasekharan.
Is it just a matter of time before land is notified and a policy is evolved? Only time will tell.
But the time has certainly come for Chennai to get into aviation manufacturing, Dr Harinarayana said.
AVIATION PARK
“Hyderabad has created an aviation park; it is thriving. The Bangalore park will be operational in two years. Chennai has a lead in the auto and auto component sector. It now needs to get to the next level of competitiveness. Part of the aviation park can be in a special economic zone like it is in Hyderabad.”
Auto majors, such as the TVS group, have to get their acts together on this, said Dr Harinarayana.
CHENNAI, MARCH 7:
Will the long-overdue aero park in Chennai finally take off? Land has been identified near the existing airport and the proposed new airport in Chennai to set up a 1,000-acre aviation park.
It's been four years since the proposal was mooted but the project has been mired in issues of finding land and red-tape, said Mr Venkatesh Chandrasekharan Co-Chairman, Manufacturing Taskforce, Confederation of Indian Industry, which has been supporting this initiative from 2008.
ADEQUATE LAND
“The problem is not land availability issue but more about finding adequate land in a single place. A project like this needs a critical mass of at least 1,000 acres,” said Dr Kota Harinarayana, Dr D S Kothari DRDO Chair, Aeronautical Development Agency. Mr Chandrasekharan said around 700 acres has been identified near the proposed airport in Sriperumbudur and 200-odd acres near the existing airport.
The park will house manufacturing units, training centres and an MRO facility as well. The project, which would entail an investment of $10 billion, is expected to provide one lakh jobs.
DRAFT POLICY
“TIDCO, which had engaged L&T as consultants, has submitted a draft policy to the State Government,” said Mr Chandrasekharan.
Is it just a matter of time before land is notified and a policy is evolved? Only time will tell.
But the time has certainly come for Chennai to get into aviation manufacturing, Dr Harinarayana said.
AVIATION PARK
“Hyderabad has created an aviation park; it is thriving. The Bangalore park will be operational in two years. Chennai has a lead in the auto and auto component sector. It now needs to get to the next level of competitiveness. Part of the aviation park can be in a special economic zone like it is in Hyderabad.”
Auto majors, such as the TVS group, have to get their acts together on this, said Dr Harinarayana.
StingRoy
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Shardul.....the lion
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11 MAR, 2012, 11.44AM IST, PTI
FDI increases by 31% to $27.5 bn in 2011
NEW DELHI: Foreign direct investment (FDI) in India went up by 31 per cent to USD 27.5 billion last year, notwithstanding uncertain economic environment globally.
FDI inflows in 2010 totalled USD 21 billion. The sectors that attracted maximum FDI last year include services (financial and non-financial), telecom, housing and real estate, and construction and power, according to the industry ministry's latest data.
Mauritius, Singapore, the US, the UK, the Netherlands, Japan, Germany and the UAE are the major investors in India.
Experts said, meanwhile, that the government should further streamline policies and make the environment more conducive to FDI.
"The government should allow 100 per cent FDI in sectors like domestic airlines and insurance sector to boost inflows and generate employment," Ficci Secretary General Rajiv Kumar said.
During April-December, FDI moved up 51 per cent to USD 24.18 billion, from USD 16.03 billion in the same period of the previous year.
FDI inflows totalled USD 19.42 billion in 2010-11 financial year, down from USD 25.83 billion in 2009-10.
To boost FDI inflows, the government has liberalised the FDI regime, allowing overseas investment in bee-keeping and share-pledging for raising external debt. Besides, 100 per cent foreign investment has been allowed in single-brand retail sector.
Besides, the conditions for FDI in construction of old- age homes and educational institutions have been eased.
FDI increases by 31% to $27.5 bn in 2011 - The Economic Times
FDI increases by 31% to $27.5 bn in 2011
NEW DELHI: Foreign direct investment (FDI) in India went up by 31 per cent to USD 27.5 billion last year, notwithstanding uncertain economic environment globally.
FDI inflows in 2010 totalled USD 21 billion. The sectors that attracted maximum FDI last year include services (financial and non-financial), telecom, housing and real estate, and construction and power, according to the industry ministry's latest data.
Mauritius, Singapore, the US, the UK, the Netherlands, Japan, Germany and the UAE are the major investors in India.
Experts said, meanwhile, that the government should further streamline policies and make the environment more conducive to FDI.
"The government should allow 100 per cent FDI in sectors like domestic airlines and insurance sector to boost inflows and generate employment," Ficci Secretary General Rajiv Kumar said.
During April-December, FDI moved up 51 per cent to USD 24.18 billion, from USD 16.03 billion in the same period of the previous year.
FDI inflows totalled USD 19.42 billion in 2010-11 financial year, down from USD 25.83 billion in 2009-10.
To boost FDI inflows, the government has liberalised the FDI regime, allowing overseas investment in bee-keeping and share-pledging for raising external debt. Besides, 100 per cent foreign investment has been allowed in single-brand retail sector.
Besides, the conditions for FDI in construction of old- age homes and educational institutions have been eased.
FDI increases by 31% to $27.5 bn in 2011 - The Economic Times
Holmes
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Indias growing economy gives good opportunity to boost ties: Iran
Story Dated: Sunday, March 11, 2012 8:17 hrs IST
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Tehran: The chief of Iran's Chamber of Commerce, Industries and Mines Saturday said the Indian economy provides a good opportunity for Iran to cooperate and interact with the country.
On the sidelines of a meeting with a visiting 80-member Indian business delegation, Mohammad Nahavandian told the IRNA news agency that Tehran was ready to start cooperation with New Delhi as India's economy was now experiencing a 10 percent growth.
India is a country with ample opportunities with which Iran seeks to expand ties, he said.
Nahavandian said the current trade, banking and insurance cooperation between the two countries should be further broadened.
The Indian delegation arrived in Iran Friday for a five-day visit, according to Xinhua.
At a meeting with a group of Iranian businessmen and experts in Tehran Saturday, Arvind Mehta, the joint secretary in India's ministry of commerce and industry, said the value of India-Iran transactions will hit $25 billion in the next four years.
Mehta put the current level of bilateral transactions at around $15 billion.
Iran sells oil to India worth some $13 billion annually and imports about $2.5 billion worth of goods from India.
Mehta said the visit by the Indian delegation will play an important role in enhancing ties.
Xinhua said that by refusing to join the West-sponsored sanctions against Iran over its controversial nuclear programme, India has found it an opportunity to increase its exports to the country in the absence of Iran's former economic partners.
Iran has agreed to receive over 40 percent of its revenue from its oil exports to India in rupees.
The UN Security Council and Western countries have imposed a series of economic sanctions on Iran over the nuclear programme.
Most of Iranian financial institutions have been barred from directly accessing the US and the European Union financial systems.
The US has been rallying its allies in imposing similar sanction pressures on Iran's financial system over the nuclear programme, which Tehran describes as solely for "peaceful" use of nuclear energy. The US and its Western allies suspect it as an attempt to acquire nuclear weapons.
Manorama Online | India's growing economy gives good opportunity to boost ties: Iran
Story Dated: Sunday, March 11, 2012 8:17 hrs IST
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Tehran: The chief of Iran's Chamber of Commerce, Industries and Mines Saturday said the Indian economy provides a good opportunity for Iran to cooperate and interact with the country.
On the sidelines of a meeting with a visiting 80-member Indian business delegation, Mohammad Nahavandian told the IRNA news agency that Tehran was ready to start cooperation with New Delhi as India's economy was now experiencing a 10 percent growth.
India is a country with ample opportunities with which Iran seeks to expand ties, he said.
Nahavandian said the current trade, banking and insurance cooperation between the two countries should be further broadened.
The Indian delegation arrived in Iran Friday for a five-day visit, according to Xinhua.
At a meeting with a group of Iranian businessmen and experts in Tehran Saturday, Arvind Mehta, the joint secretary in India's ministry of commerce and industry, said the value of India-Iran transactions will hit $25 billion in the next four years.
Mehta put the current level of bilateral transactions at around $15 billion.
Iran sells oil to India worth some $13 billion annually and imports about $2.5 billion worth of goods from India.
Mehta said the visit by the Indian delegation will play an important role in enhancing ties.
Xinhua said that by refusing to join the West-sponsored sanctions against Iran over its controversial nuclear programme, India has found it an opportunity to increase its exports to the country in the absence of Iran's former economic partners.
Iran has agreed to receive over 40 percent of its revenue from its oil exports to India in rupees.
The UN Security Council and Western countries have imposed a series of economic sanctions on Iran over the nuclear programme.
Most of Iranian financial institutions have been barred from directly accessing the US and the European Union financial systems.
The US has been rallying its allies in imposing similar sanction pressures on Iran's financial system over the nuclear programme, which Tehran describes as solely for "peaceful" use of nuclear energy. The US and its Western allies suspect it as an attempt to acquire nuclear weapons.
Manorama Online | India's growing economy gives good opportunity to boost ties: Iran
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India Decides to End Cotton-Export Ban After Protests From Growers, China
By Tushar Dhara and Pratik Parija - Sun Mar 11 11:10:22 GMT 2012 ..India, the worlds second-biggest cotton producer, will end a ban on exports after protests from growers, traders and China, the nations biggest buyer.
Keeping in view the interests of the farmers, industry, trade, a balance view has been considered by the Group of Ministers to roll back the ban, Trade Minister Anand Sharma said in an e-mailed statement today.
The ministry will publish details for repealing its March 5 ban tomorrow, Sharma said. India banned shipments to secure domestic supplies after sales exceeded the governments estimate of exportable surplus. Resumption of exports may add to global supplies and pressure futures, which have fallen 55 percent in New York in the past year.
This will help farmers get a higher price immediately, at least 10 percent more, and encourage cotton planting for next year, Dhiren Sheth, president of the Cotton Association of India, said in a phone interview today. The government decision will help avoid disputes and arbitration in international markets.
India suspended sales after shipments surged to about 9.4 million bales, more than the surplus of 8.4 million bales estimated by the government. Traders had registered to ship 12 million bales, the countrys Textile Ministry said.
International Trade
The ban drove prices up by the daily limit on March 5, and to 94.24 cents, the highest level since Feb. 17. The May- delivery contract fell 0.9 percent at 88.80 cents on ICE Futures U.S. on March 9.
The world will have a record trade surplus of 2 million bales of 480 pounds (218 kilograms) if India exported all the cotton registered, Morgan Stanley analysts led by Hussein Allidina said in an e-mailed report on March 9. Alternately, Indian exports would likely crowd out incremental U.S. exports, portending to large-scale U.S. export sale cancellations through the balance of the marketing year, Morgan Stanley said.
The brokerage lowered its 2011-2012 price estimate to 90 cents a pound from $1, citing weak global demand.
The prohibition damages international trade, the China Cotton Association said on March 8. The association, supervised by Chinas Ministry of Civil Affairs, hopes that the Indian government revokes the incorrect policy, it said. The Chinese association is the countrys biggest trade group for the fiber and has farmers, cooperatives and users as members, according to its website.
The Liverpool, U.K.-based International Cotton Association, which handles contract arbitration, has said the prohibition will have a major, detrimental impact on global trade.
India is set to supply 17 percent of global exports in 2011-2012, the U.S. Department of Agriculture estimates.
To contact the reporters on this story: Tushar Dhara in New Delhi at tdhara1@bloomberg.net. Pratik Parija in New Delhi at pparija@bloomberg.net
To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net.
India Decides to End Cotton-Export Ban After Protests From Growers, China - Bloomberg
Air India ticket sales jump 32% in Feb
Mumbai: Debt-stricken Air India has registered another improvement in year-on-year performance in February, with average passenger revenue growing by a healthy 32 percent, a senior airline official said.
While revenue from international network grew 20 percent, the same from the domestic network rose nearly 58 percent during the period, taking the overall revenue rise to 32 percent.
"The airline's on-time performance has improved by up to 80 percent across the network, in the first week of March, reaching as high as 88 percent on March 8," the official said.
While capacity on its international services remained more or less stagnant, on the domestic service, it went up by 20 percent and on the overall network by 4 percent, he added.
There was also an increase in the number of passengers carried, which went up 13.4 percent on the overall network, he said.
The airline's yield per revenue kilometre increased 17 percent on international routes and nearly 31 percent on its domestic routes. On the overall network, there has been a 24 percent increase in the yield.
Increase in fuel cost, however, continues to dent Air India's substantial increase in revenues, he said.
"However, aviation turbine fuel prices alone registered an increase of 20 percent in February. For the entire year, Air India expects the impact of the increase in aviation turbine fuel to be in the region of Rs 2,000 crore. On a cumulative basis, from April 2011 to February 2012, its fuel cost has gone up by 40 percent. If it was not for the fuel price we would have done far better," he said.
He said that the airline is also examining the idea of direct import of fuel as recently permitted by the government to save on fuel cost.
Air India's financial restructuring plan is awaiting Cabinet approval and most of the banks have agreed in principle to the Rs 18,000 crore debt restructuring plan.
Some cost rationalisation measures already implemented by Air India include, phasing out of its Airbus 310 aircraft, reduction in the deployment of Boeing 747s, return of its leased aircraft, grounding of its ageing fleet for disposal, refinancing of some of the high cost loans with lower interest rates, as well as reduction of contractual employment.
"We have reduced the number of our former employees hired, who had been on contract. This has reduced our costs," he said.
The airline is also set to implement its new international schedule from March 25 by increasing frequencies on the Delhi-Tokyo-Delhi route from four flights to five flights per week.
The frequency on the Delhi-Dammam-Delhi route will be increased from two flights per week to daily flights, while the Delhi-Bahrain-Delhi route would have daily connectivity. Also, daily flights will be introduced on the Dubai-Vizag route, he said.
On the domestic network, the airline will increase its frequency on the Mumbai-Kochi-Mumbai to two flights daily and also introduce a new Hyderabad-Kolkata-Hyderabad flight, the official said.
Meanwhile, Boeing will shortly showcase the airline's Dreamliner Boeing 787aircraft painted in Air India's colors and internal livery at the Hyderabad Air Show 2012 between March 14 and 18 March. The Boeing Dreamliner is expected to be cornerstone of Air India's turnaround due to its fuel efficiencies.
PTI
First Published: Sunday, March 11, 2012, 13:34
Air India ticket sales jump 32% in Feb
By Tushar Dhara and Pratik Parija - Sun Mar 11 11:10:22 GMT 2012 ..India, the worlds second-biggest cotton producer, will end a ban on exports after protests from growers, traders and China, the nations biggest buyer.
Keeping in view the interests of the farmers, industry, trade, a balance view has been considered by the Group of Ministers to roll back the ban, Trade Minister Anand Sharma said in an e-mailed statement today.
The ministry will publish details for repealing its March 5 ban tomorrow, Sharma said. India banned shipments to secure domestic supplies after sales exceeded the governments estimate of exportable surplus. Resumption of exports may add to global supplies and pressure futures, which have fallen 55 percent in New York in the past year.
This will help farmers get a higher price immediately, at least 10 percent more, and encourage cotton planting for next year, Dhiren Sheth, president of the Cotton Association of India, said in a phone interview today. The government decision will help avoid disputes and arbitration in international markets.
India suspended sales after shipments surged to about 9.4 million bales, more than the surplus of 8.4 million bales estimated by the government. Traders had registered to ship 12 million bales, the countrys Textile Ministry said.
International Trade
The ban drove prices up by the daily limit on March 5, and to 94.24 cents, the highest level since Feb. 17. The May- delivery contract fell 0.9 percent at 88.80 cents on ICE Futures U.S. on March 9.
The world will have a record trade surplus of 2 million bales of 480 pounds (218 kilograms) if India exported all the cotton registered, Morgan Stanley analysts led by Hussein Allidina said in an e-mailed report on March 9. Alternately, Indian exports would likely crowd out incremental U.S. exports, portending to large-scale U.S. export sale cancellations through the balance of the marketing year, Morgan Stanley said.
The brokerage lowered its 2011-2012 price estimate to 90 cents a pound from $1, citing weak global demand.
The prohibition damages international trade, the China Cotton Association said on March 8. The association, supervised by Chinas Ministry of Civil Affairs, hopes that the Indian government revokes the incorrect policy, it said. The Chinese association is the countrys biggest trade group for the fiber and has farmers, cooperatives and users as members, according to its website.
The Liverpool, U.K.-based International Cotton Association, which handles contract arbitration, has said the prohibition will have a major, detrimental impact on global trade.
India is set to supply 17 percent of global exports in 2011-2012, the U.S. Department of Agriculture estimates.
To contact the reporters on this story: Tushar Dhara in New Delhi at tdhara1@bloomberg.net. Pratik Parija in New Delhi at pparija@bloomberg.net
To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net.
India Decides to End Cotton-Export Ban After Protests From Growers, China - Bloomberg
Air India ticket sales jump 32% in Feb
Mumbai: Debt-stricken Air India has registered another improvement in year-on-year performance in February, with average passenger revenue growing by a healthy 32 percent, a senior airline official said.
While revenue from international network grew 20 percent, the same from the domestic network rose nearly 58 percent during the period, taking the overall revenue rise to 32 percent.
"The airline's on-time performance has improved by up to 80 percent across the network, in the first week of March, reaching as high as 88 percent on March 8," the official said.
While capacity on its international services remained more or less stagnant, on the domestic service, it went up by 20 percent and on the overall network by 4 percent, he added.
There was also an increase in the number of passengers carried, which went up 13.4 percent on the overall network, he said.
The airline's yield per revenue kilometre increased 17 percent on international routes and nearly 31 percent on its domestic routes. On the overall network, there has been a 24 percent increase in the yield.
Increase in fuel cost, however, continues to dent Air India's substantial increase in revenues, he said.
"However, aviation turbine fuel prices alone registered an increase of 20 percent in February. For the entire year, Air India expects the impact of the increase in aviation turbine fuel to be in the region of Rs 2,000 crore. On a cumulative basis, from April 2011 to February 2012, its fuel cost has gone up by 40 percent. If it was not for the fuel price we would have done far better," he said.
He said that the airline is also examining the idea of direct import of fuel as recently permitted by the government to save on fuel cost.
Air India's financial restructuring plan is awaiting Cabinet approval and most of the banks have agreed in principle to the Rs 18,000 crore debt restructuring plan.
Some cost rationalisation measures already implemented by Air India include, phasing out of its Airbus 310 aircraft, reduction in the deployment of Boeing 747s, return of its leased aircraft, grounding of its ageing fleet for disposal, refinancing of some of the high cost loans with lower interest rates, as well as reduction of contractual employment.
"We have reduced the number of our former employees hired, who had been on contract. This has reduced our costs," he said.
The airline is also set to implement its new international schedule from March 25 by increasing frequencies on the Delhi-Tokyo-Delhi route from four flights to five flights per week.
The frequency on the Delhi-Dammam-Delhi route will be increased from two flights per week to daily flights, while the Delhi-Bahrain-Delhi route would have daily connectivity. Also, daily flights will be introduced on the Dubai-Vizag route, he said.
On the domestic network, the airline will increase its frequency on the Mumbai-Kochi-Mumbai to two flights daily and also introduce a new Hyderabad-Kolkata-Hyderabad flight, the official said.
Meanwhile, Boeing will shortly showcase the airline's Dreamliner Boeing 787aircraft painted in Air India's colors and internal livery at the Hyderabad Air Show 2012 between March 14 and 18 March. The Boeing Dreamliner is expected to be cornerstone of Air India's turnaround due to its fuel efficiencies.
PTI
First Published: Sunday, March 11, 2012, 13:34
Air India ticket sales jump 32% in Feb
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India’s January Industrial Output Rises at Fastest Pace in Seven Months
By Kartik Goyal - Mar 12, 2012 7:03 PM ET
India’s industrial production unexpectedly rose at the fastest pace in seven months in January, weathering the highest interest rates since 2008 and weaker global growth.
Output (INPIINDY) at factories, utilities and mines advanced 6.8 percent from a year earlier, after a revised 2.5 percent climb in December, the Central Statistical Office said in a statement in New Delhi today. The figure exceeded all 26 estimates in a Bloomberg News survey.
Enlarge image
The gain signals production is withstanding the impact of the elevated cost of credit on domestic demand and the fallout for exports from Europe’s debt crisis. Photographer: Dhiraj Singh/Bloomberg
Play Video
March 6 (Bloomberg) -- Prem Shankar Jha, an independent political analyst and previously an aide to former Indian Prime Minister Vishwanath Pratap Singh, talks about the nation's state elections, economy and central bank monetary policy. Results from the elections to be released today may dictate the pace of economic policy changes that Singh is seeking to bolster slowing growth. Jha speaks from with John Dawson on Bloomberg Television's "On the Move Asia." (Source: Bloomberg)
A history of swings in the data may prevent the report from easing concern that the cost of credit and the impact of Europe’s debt crisis are dimming India’s economic outlook. The central bank, which lowered lenders’ reserve requirements last week and reviews rates on March 15, has signaled readiness to join nations from Brazil to the Philippines in cutting borrowing costs as expansion slows and inflation eases.
“The production figures are very volatile and I wouldn’t give too much weight to this number,” said Madan Sabnavis, chief economist at Credit Analysis & Research Ltd. in Mumbai. “The overall growth trend still remains weak. The Reserve Bank of India will wait until April to take any action on rates, and by then it will have more information on the budget deficit and inflation.”
By Kartik Goyal - Mar 12, 2012 7:03 PM ET
India’s industrial production unexpectedly rose at the fastest pace in seven months in January, weathering the highest interest rates since 2008 and weaker global growth.
Output (INPIINDY) at factories, utilities and mines advanced 6.8 percent from a year earlier, after a revised 2.5 percent climb in December, the Central Statistical Office said in a statement in New Delhi today. The figure exceeded all 26 estimates in a Bloomberg News survey.
Enlarge image
The gain signals production is withstanding the impact of the elevated cost of credit on domestic demand and the fallout for exports from Europe’s debt crisis. Photographer: Dhiraj Singh/Bloomberg
Play Video
March 6 (Bloomberg) -- Prem Shankar Jha, an independent political analyst and previously an aide to former Indian Prime Minister Vishwanath Pratap Singh, talks about the nation's state elections, economy and central bank monetary policy. Results from the elections to be released today may dictate the pace of economic policy changes that Singh is seeking to bolster slowing growth. Jha speaks from with John Dawson on Bloomberg Television's "On the Move Asia." (Source: Bloomberg)
A history of swings in the data may prevent the report from easing concern that the cost of credit and the impact of Europe’s debt crisis are dimming India’s economic outlook. The central bank, which lowered lenders’ reserve requirements last week and reviews rates on March 15, has signaled readiness to join nations from Brazil to the Philippines in cutting borrowing costs as expansion slows and inflation eases.
“The production figures are very volatile and I wouldn’t give too much weight to this number,” said Madan Sabnavis, chief economist at Credit Analysis & Research Ltd. in Mumbai. “The overall growth trend still remains weak. The Reserve Bank of India will wait until April to take any action on rates, and by then it will have more information on the budget deficit and inflation.”
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India confident of going back to 8-9 pct growth soon: Patil
India Car Sales Rise to a Record
India Car Sales Rise to a Record - WSJ.com
India confident of going back to 8-9 pct growth soon: Patil | Reuters
India Car Sales Rise to a Record
India Car Sales Rise to a Record - WSJ.com
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