Other Briefings
New Government to Accelerate Reforms
May 19 – India’s Congress Party coalition majority win during the recently concluded elections is expected to hasten the implementation of much needed reforms in agriculture. One of these reforms includes cutting the export ban on certain commodities such as wheat and rice. Last week, Trade Secretary G.K. Pillai said wheat exports of up to […]
Indian Markets Up 20 Percent on Election Results
MUMBAI, May 19 – The Indian business community reacted strongly to the national election results yesterday, sending the primary Sensex up over 2,000 points to close at 14,284. In unparalleled scenes, the markets rose in just two minutes worth of trade before the exchange was forced to bring an end to the session as the […]
Nortel Opens Global Operations Center in Bangalore
May 18 – Nortel Networks opened its global network operations center in Bangalore to manage the networks of its carrier and enterprise customers in Europe, Asia and the Americas. This is the company’s fifth overseas network operations center. According to Suresh Kumar, Nortel Asia-Pacific vice president for managed service delivery, the company chose not to […]
India’s Mandate for Reform by the People
May 18 – India’s voters have returned the Congress Party to power in the national Lok Sabha elections in a stunning result that also saw Dr. Manmohan Singh returned as an elected prime minister for the first time by any Indian prime minister since Jawaharlal Nehru in 1961. The result further endorses, and strengthens, the […]
April Exports Drop by 33 Percent
May 15 – India’s exports dropped by 33 percent in April to US$10.79 billion compared to the year earlier as the effects of the global recession continue to resonate. This is the seventh month in a row that exports have contracted. “This was expected with the global slowdown and contraction of 9 percent in world […]
Gov’t to Build National Gas Highway
May 14 – India’s oil ministry may build a national gas highway to bring a steady supply of natural gas across the country. Currently, gas pipelines are found mainly in the eastern and western regions while the southern, central and north-eastern regions are lacking. Expanding the pipeline should balance economic and regional growth. Funds for […]
March FDI Drops to US$2 Billion
May 13 – India’s foreign direct investment in March reached US$2 billion declining by more than half compared to last year’s US$4.4 billion during the same period. FDI has been hard hit by the global economic crisis although total FDI for 2008-09 is still more than US$27 billion, still a marginal growth compared to US$24.5 […]
LG to Expand Manufacturing in India
May 12 – Major Korean consumer electronic brand LG has plans to ramp up its manufacturing capacities and product exports from India for its global operations to cut on costs. LG India is looking at exporting products to mature markets eventually growing its exports from 15 percent of turnover to 30 percent by 2012. The […]
