Indian Economy-News & Updates
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I am a Hyderabadi and I had used this airport few times and its very good.
Check this video
Check this video
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Hyde
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i have been to Lahore, Islamabad, Abu Dhabi, Athens, Heathrow (London), Stanstead (London), City (London), Jeddah International Airport and Medina International Airport and from all of them Abu Dhabi seemed to be best.
I watched little bit of video shared above but i think Abu Dhabi is much better than Hyederabad Airport.... both in terms of services and facilities
topjumper
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Agreed, I'm genuinely interested in hearing the opinions of our Indian friends here. While a large population provides vital labour force needed for rapid economic development, over-population places unsustainable burden on natural resources, social infrastructure and invariably creates poverty and social bi-polarization.
Just to be sure -- China too is battling with this problem and I've read some estimates by public think-tanks that the optimal population size for China to sustain its growth is between 700 - 800 million, and right now it has over 1.3 billion people, needless to say the problem is dire as everyone can figure. So while some bleeding heart European liberals cry out the china's one child policy as an infringement of human rights, I personally (and everyone I know) whole heartedly support this policy -- I'd rather see one child born into this world with every access to education and future prosperity that his/her ability and ambition can afford than seeing two children born into poverty with little/no chance of improving themselves.
By the way, I have many Indian and Pakistani friends, one of my best friends is indian and I can trust him with my house keys ;-) I'm very proud of my country's friendship with Pakistan and really hope we together can work out our differences with India. A bit of competitive spirit is always good and we shouldn't be afraid of it, but sometimes I'm quite disappointed with the smack talks and pointless insults directed at each other for no obvious reasons other than nationality, and both sides are to be blamed for this!
ejaz007
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Indias food inflation accelerates
* Central bank keeps forecast of 8.5 percent
NEW DELHI: Indias food inflation picked up for the fourth straight week in early February, heightening worries it was driving headline inflation past official forecasts and increasing the chance of the central bank pushing up rates.
The countrys central bank, meanwhile, stood by its end-March inflation forecast of 8.5 percent, and said it expects recent monetary action to help anchor inflationary expectations, with inflation moderating by July.
Food prices rose 17.97 percent in the 12 months to Feb 6, after an annual rise of 17.94 percent in the previous week, data released on Thursday showed. The fuel price index rose an annual 9.89 percent in the same week, down from a rise of 10.4 percent on year the previous week.
Rising prices are a huge headache for the Congress-led government, particularly high food prices that may overshadow government efforts to cut spending and the fiscal deficit in a Feb 26 budget.
Climbing food and fuel costs along with a pick up in manufacturing prices are expected to push headline wholesale price inflation (WPI) from 8.56 percent in January to 10 percent by March, according to some analysts and Indias chief statistician Pronab Sen.
It is difficult to precisely predict the roadmap or calibration of inflation number, the central bank Governor Duvvuri Subbarao told reporters in Patna on Thursday.
But taking into account the situation at the end of January and looking ahead to the evolving situation we said 8.5 percent by the end of March and we stand by that number.
Government bonds showed little reaction to the data given that markets have already priced in a rise in the headline inflation to double digits and a 25 to 50 basis point rise in policy rates in April.
At 1100 GMT, yield on the 10-year benchmark bond was at 7.86 percent, lower from its Wednesday close of 7.89 percent.
Going forward, food prices will moderate and non-food prices will start putting more pressure on the WPI, said Atsi Sheth, economist with Macro-Sutra.
The RBI has already anticipated a fairly high headline number mainly on a low base. They will look at month-on-month increase in manufacturing prices and credit growth figure before taking any monetary action.
Pressure on RBI: The central bank is widely expected to raise borrowing rates after it surprised markets last month with a bigger-than-expected rise in banks cash reserve requirements and given that inflation has already topped its revised end-March forecast of 8.5 percent.
Inflation in manufacturing picked up to 6.55 percent from about 5 percent in December, a sign that inflationary pressures were spreading to other sectors of the economy.
I do not expect headline inflation to come down near term, said Kevin Grice, an economist with Capital Economics in London.
Base effects should continue to work through, food price pressures will probably stay high for a time while price pressures from the rapid economic upswing will continue to come through too.
On Wednesday, Farm Minister Sharad Pawar said food prices have started to ease and will dip further next month, while Finance Minister Pranab Mukherjee said higher food prices continue to be a worry.
The government last month ordered the sale of stocked grain and extended duty-free sugar imports by nine months and remained hopeful that higher food supplies would moderate food prices. reuters
Daily Times - Leading News Resource of Pakistan
* Central bank keeps forecast of 8.5 percent
NEW DELHI: Indias food inflation picked up for the fourth straight week in early February, heightening worries it was driving headline inflation past official forecasts and increasing the chance of the central bank pushing up rates.
The countrys central bank, meanwhile, stood by its end-March inflation forecast of 8.5 percent, and said it expects recent monetary action to help anchor inflationary expectations, with inflation moderating by July.
Food prices rose 17.97 percent in the 12 months to Feb 6, after an annual rise of 17.94 percent in the previous week, data released on Thursday showed. The fuel price index rose an annual 9.89 percent in the same week, down from a rise of 10.4 percent on year the previous week.
Rising prices are a huge headache for the Congress-led government, particularly high food prices that may overshadow government efforts to cut spending and the fiscal deficit in a Feb 26 budget.
Climbing food and fuel costs along with a pick up in manufacturing prices are expected to push headline wholesale price inflation (WPI) from 8.56 percent in January to 10 percent by March, according to some analysts and Indias chief statistician Pronab Sen.
It is difficult to precisely predict the roadmap or calibration of inflation number, the central bank Governor Duvvuri Subbarao told reporters in Patna on Thursday.
But taking into account the situation at the end of January and looking ahead to the evolving situation we said 8.5 percent by the end of March and we stand by that number.
Government bonds showed little reaction to the data given that markets have already priced in a rise in the headline inflation to double digits and a 25 to 50 basis point rise in policy rates in April.
At 1100 GMT, yield on the 10-year benchmark bond was at 7.86 percent, lower from its Wednesday close of 7.89 percent.
Going forward, food prices will moderate and non-food prices will start putting more pressure on the WPI, said Atsi Sheth, economist with Macro-Sutra.
The RBI has already anticipated a fairly high headline number mainly on a low base. They will look at month-on-month increase in manufacturing prices and credit growth figure before taking any monetary action.
Pressure on RBI: The central bank is widely expected to raise borrowing rates after it surprised markets last month with a bigger-than-expected rise in banks cash reserve requirements and given that inflation has already topped its revised end-March forecast of 8.5 percent.
Inflation in manufacturing picked up to 6.55 percent from about 5 percent in December, a sign that inflationary pressures were spreading to other sectors of the economy.
I do not expect headline inflation to come down near term, said Kevin Grice, an economist with Capital Economics in London.
Base effects should continue to work through, food price pressures will probably stay high for a time while price pressures from the rapid economic upswing will continue to come through too.
On Wednesday, Farm Minister Sharad Pawar said food prices have started to ease and will dip further next month, while Finance Minister Pranab Mukherjee said higher food prices continue to be a worry.
The government last month ordered the sale of stocked grain and extended duty-free sugar imports by nine months and remained hopeful that higher food supplies would moderate food prices. reuters
Daily Times - Leading News Resource of Pakistan
IMADreamer
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India to aim at 9 per cent growth in 2011-12: President Patil news
22 February 2010
The President of India, Smt. Pratibha Patil
The government will aim at an economic growth rate above 8 per cent in 2010-11 and expects to achieve 9 per cent growth in 2011-12, President Pratibha Patil said in her opening speech of the budget session of Parliament.
She said the government's policy thrust would be on infrastructure development, agriculture and rural development, education and health care as it seeks to ensure that the growth process is sensitive to the concerns and well being of the weaker sections of society.
For achieving a higher rate of growth, the President said the government would work towards creating an environment that encourages investments, especially in micro, small, and medium enterprises.
She said the government will take all necessary steps to expeditiously implement the recommendations of the Task Force on micro, small and medium enterprises (MSMEs) as the sector is vital for sustained and inclusive growth of the economy.
These include improved credit access, development of infrastructure, strengthening of the district industries centres, improved raw material supply, facilitating of product marketing, and institutional reforms, she said.
A priority area for the government is the listing of profitable companies on the stock exchanges through public offers of at least 10 per cent of the equity.
domain-b.com : India to aim at 9 per cent growth in 2011-12: President Patil
22 February 2010
The President of India, Smt. Pratibha Patil
The government will aim at an economic growth rate above 8 per cent in 2010-11 and expects to achieve 9 per cent growth in 2011-12, President Pratibha Patil said in her opening speech of the budget session of Parliament.
She said the government's policy thrust would be on infrastructure development, agriculture and rural development, education and health care as it seeks to ensure that the growth process is sensitive to the concerns and well being of the weaker sections of society.
For achieving a higher rate of growth, the President said the government would work towards creating an environment that encourages investments, especially in micro, small, and medium enterprises.
She said the government will take all necessary steps to expeditiously implement the recommendations of the Task Force on micro, small and medium enterprises (MSMEs) as the sector is vital for sustained and inclusive growth of the economy.
These include improved credit access, development of infrastructure, strengthening of the district industries centres, improved raw material supply, facilitating of product marketing, and institutional reforms, she said.
A priority area for the government is the listing of profitable companies on the stock exchanges through public offers of at least 10 per cent of the equity.
domain-b.com : India to aim at 9 per cent growth in 2011-12: President Patil
Wipro Arabia wins $750m worth contracts - Arab News
By GHAZANFAR ALI KHAN | ARAB NEWS
Published: Feb 23, 2010 12:27 AM Updated: Feb 23, 2010 12:27 AM
RIYADH: Wipro Arabia Limited (WAL), an IT joint-venture between India's Wipro Ltd. and Dar Al-Riyadh, has consolidated its position in the Kingdom by signing $750 million worth of job orders recently.
These orders, mainly from education, telecommunications and banking giants, cover the whole range of services to be provided to clients including integrated IT solutions, application development, consultancy and infrastructure-related services.
"The Kingdom (is) a critical component of our global expansion strategy, as it is a rapidly growing market," said Suresh Vaswani, chief executive officer of Wipro's IT Business, who was in the Saudi capital to attend the meeting of WAL's board of directors.
Vaswani gave an overview of Wipro's Saudi operations and the company's growing presence in the Kingdom.
Durga Prasad Y., Wipro Arabia general manager, and G. Hari Krishnan, Wipro's marketing and bid manager, were also present.
Wipro, Vaswani said, is committed to offer quality services and full satisfaction to clients. He added that Wipro is also the first Indian company to build a 100 percent recyclable and toxin-free computer as part of its plan to promote research and development in the IT sector, both in India and overseas.
The eco-friendly Wipro Greenware desktops are completely free from harmful chemicals such as polyvinyl chloride (PVC) and brominated flame retardants (BFRs).
"Wipro has deployed more than 600 IT professionals, including 157 Saudi nationals, on the projects currently being executed by the company in the Kingdom," Vaswani said, addressing the interest from top IT clients in Saudi Arabia.
This also includes nine Saudi women, he said. Major orders include IT projects from the King Abdullah University for Science and Technology (KAUST), Saudi Arabian Airlines, Etihad Atheeb Telecommunications, and major banks.
"We have an intensive training program for Saudi youngsters, which lasts for 3-4 months in the first phase, followed by orientation on field/projects as shadow resources where they learn the business dynamics," Vaswani added.
Other initiatives for local and expatriate employees include a cross-culture assimilation scheme, where employees are provided orientation on cultural values, heritage, history and the socioeconomic scenario of Saudi Arabia.
Recently, Wipro Arabia recruited fresh engineering graduates from the King Fahd University of Petroleum and Minerals (KFUPM).
These recruits were sent to Wipro's global headquarters in India for induction, training and competency development for over a month before they are offered full-fledged jobs on a very competitive salary and perks.
Dar Al-Riyadh is the local partner of Wipro, which is a $5 billion conglomerate providing IT services and solutions to enterprises across India, US, UK, Japan, Europe and the Middle East.
Wipro has a work force of about 100,000 people working across the world.
By GHAZANFAR ALI KHAN | ARAB NEWS
Published: Feb 23, 2010 12:27 AM Updated: Feb 23, 2010 12:27 AM
RIYADH: Wipro Arabia Limited (WAL), an IT joint-venture between India's Wipro Ltd. and Dar Al-Riyadh, has consolidated its position in the Kingdom by signing $750 million worth of job orders recently.
These orders, mainly from education, telecommunications and banking giants, cover the whole range of services to be provided to clients including integrated IT solutions, application development, consultancy and infrastructure-related services.
"The Kingdom (is) a critical component of our global expansion strategy, as it is a rapidly growing market," said Suresh Vaswani, chief executive officer of Wipro's IT Business, who was in the Saudi capital to attend the meeting of WAL's board of directors.
Vaswani gave an overview of Wipro's Saudi operations and the company's growing presence in the Kingdom.
Durga Prasad Y., Wipro Arabia general manager, and G. Hari Krishnan, Wipro's marketing and bid manager, were also present.
Wipro, Vaswani said, is committed to offer quality services and full satisfaction to clients. He added that Wipro is also the first Indian company to build a 100 percent recyclable and toxin-free computer as part of its plan to promote research and development in the IT sector, both in India and overseas.
The eco-friendly Wipro Greenware desktops are completely free from harmful chemicals such as polyvinyl chloride (PVC) and brominated flame retardants (BFRs).
"Wipro has deployed more than 600 IT professionals, including 157 Saudi nationals, on the projects currently being executed by the company in the Kingdom," Vaswani said, addressing the interest from top IT clients in Saudi Arabia.
This also includes nine Saudi women, he said. Major orders include IT projects from the King Abdullah University for Science and Technology (KAUST), Saudi Arabian Airlines, Etihad Atheeb Telecommunications, and major banks.
"We have an intensive training program for Saudi youngsters, which lasts for 3-4 months in the first phase, followed by orientation on field/projects as shadow resources where they learn the business dynamics," Vaswani added.
Other initiatives for local and expatriate employees include a cross-culture assimilation scheme, where employees are provided orientation on cultural values, heritage, history and the socioeconomic scenario of Saudi Arabia.
Recently, Wipro Arabia recruited fresh engineering graduates from the King Fahd University of Petroleum and Minerals (KFUPM).
These recruits were sent to Wipro's global headquarters in India for induction, training and competency development for over a month before they are offered full-fledged jobs on a very competitive salary and perks.
Dar Al-Riyadh is the local partner of Wipro, which is a $5 billion conglomerate providing IT services and solutions to enterprises across India, US, UK, Japan, Europe and the Middle East.
Wipro has a work force of about 100,000 people working across the world.
PM to offer crude storage facilities to Saudi Arabia | mydigitalfc.com
India will offer Saudi Arabia and other oil-rich countries such as Kuwait, Sudan and Oman facilities for strategic storage of crude and petroleum products in the country.
The proposal will figure prominently between India and Arab nations during the three-day visit of prime minister Manmohan Singh to Saudi Arabia beginning Saturday. Petroleum minister Murli Deora and honchos of the country’s upstream and oil marketing companies will be part of the prime minister’s delegation. India will offer land in Rajasthan for the gulf nations to set up their storage stations, said a petroleum ministry official.
The volume and products to be stored can be at their discretion. Engineers India Limited (EIL) will help with required consultancy needs, he added. The countries can use India as a transit point to supply oil to south Asian nations. These projects will help India to build strong bilateral relationship with the countries along with securing an emergency backup of crude and petroleum products. The facilities in Rajasthan will be connected through Kandla port.
India, which imports close to 80 per cent of its crude oil, is building storage terminals similar to those in countries such as the US, Japan and China. Petroleum secretary S Sundareshan had earlier said that the first storage terminal would be completed by mid-2011 and two others will be operational in the following year.
The first terminal will be built at Visakhapatnam with a capacity of 1.33 million tonnes. The other two terminals will be constructed at Mangalore that will take India’s total storage capacity close to 5 million tonnes. India is planning for emergency oil storage capacity up to 15 million tonnes. This will be achieved in phases.
Recently, India offered world’s third-largest oil rich country, Iraq, to use some of the space in these terminals. This will help India secure long-term energy contracts. India’s crude oil import in the first nine months of this financial year rose by 12 per cent to 109.32 million tonnes.
India will offer Saudi Arabia and other oil-rich countries such as Kuwait, Sudan and Oman facilities for strategic storage of crude and petroleum products in the country.
The proposal will figure prominently between India and Arab nations during the three-day visit of prime minister Manmohan Singh to Saudi Arabia beginning Saturday. Petroleum minister Murli Deora and honchos of the country’s upstream and oil marketing companies will be part of the prime minister’s delegation. India will offer land in Rajasthan for the gulf nations to set up their storage stations, said a petroleum ministry official.
The volume and products to be stored can be at their discretion. Engineers India Limited (EIL) will help with required consultancy needs, he added. The countries can use India as a transit point to supply oil to south Asian nations. These projects will help India to build strong bilateral relationship with the countries along with securing an emergency backup of crude and petroleum products. The facilities in Rajasthan will be connected through Kandla port.
India, which imports close to 80 per cent of its crude oil, is building storage terminals similar to those in countries such as the US, Japan and China. Petroleum secretary S Sundareshan had earlier said that the first storage terminal would be completed by mid-2011 and two others will be operational in the following year.
The first terminal will be built at Visakhapatnam with a capacity of 1.33 million tonnes. The other two terminals will be constructed at Mangalore that will take India’s total storage capacity close to 5 million tonnes. India is planning for emergency oil storage capacity up to 15 million tonnes. This will be achieved in phases.
Recently, India offered world’s third-largest oil rich country, Iraq, to use some of the space in these terminals. This will help India secure long-term energy contracts. India’s crude oil import in the first nine months of this financial year rose by 12 per cent to 109.32 million tonnes.
Lankan Ranger
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India's Pavilion at China's Shanghai Expo 2010
Indias, which, perhaps, is the structure that most represents the Expos now almost-forgotten theme better city, better life, a call for sustainable urban development.
Last week, Indian designers and Chinese engineers were working to put finishing touches to the $9-million pavilion, which will be unveiled next month.
The design is inspired by the Sanchi Stupa. Its defining feature is a 35 metre-wide dome which will be the worlds biggest bamboo structure.
The design, conceived by D.R. Naidu of Design C, seeks to make a green statement, expounding harmonious living as a way of life.
What we want to convey through this pavilion is a message for sustainable development, but also Indias own sense of harmony, through the ages, said Arindam Ryan Roy Chowdhury, a project manager for Design C at the Expo site.
Plants and herbs will cover the dome, which will also be fitted with solar panels and windmills to power the 4,000-square metre pavilions emergency lighting system.
The pavilion will host 14 handicraft shops, two Indian restaurants and a performance area, where dances will be staged to give the Chinese audience a glimpse into Indian culture.
Officials expect that at least 50 million Chinese will visit the Indian pavilion during the six month-long Expo, which starts on May 1.
Riva Ganguly Das, Indias Consul-General in Shanghai, said it would help raise Indias profile in Shanghai, where more than 70 Indian companies already have a business presence.
The Hindu : Front Page : India set to unveil green pavilion as Shanghai readies for World Expo
Indias, which, perhaps, is the structure that most represents the Expos now almost-forgotten theme better city, better life, a call for sustainable urban development.
Last week, Indian designers and Chinese engineers were working to put finishing touches to the $9-million pavilion, which will be unveiled next month.
The design is inspired by the Sanchi Stupa. Its defining feature is a 35 metre-wide dome which will be the worlds biggest bamboo structure.
The design, conceived by D.R. Naidu of Design C, seeks to make a green statement, expounding harmonious living as a way of life.
What we want to convey through this pavilion is a message for sustainable development, but also Indias own sense of harmony, through the ages, said Arindam Ryan Roy Chowdhury, a project manager for Design C at the Expo site.
Plants and herbs will cover the dome, which will also be fitted with solar panels and windmills to power the 4,000-square metre pavilions emergency lighting system.
The pavilion will host 14 handicraft shops, two Indian restaurants and a performance area, where dances will be staged to give the Chinese audience a glimpse into Indian culture.
Officials expect that at least 50 million Chinese will visit the Indian pavilion during the six month-long Expo, which starts on May 1.
Riva Ganguly Das, Indias Consul-General in Shanghai, said it would help raise Indias profile in Shanghai, where more than 70 Indian companies already have a business presence.
The Hindu : Front Page : India set to unveil green pavilion as Shanghai readies for World Expo
Lankan Ranger
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Lankan Ranger
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Lankan Ranger
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