Other Briefings
India Raises Export Duties on Iron Ore by 5 Percent
Dec. 29 – In an attempt to curb exports and feed growing domestic demand for iron ore, the Indian government has increased the export duty on iron ore by 5 percent. According the Indian Finance Ministry, the government has raised export duty on iron ore lumps to 10 percent from 5 percent and on iron […]
Garment Exports Drop 17 Percent in October
Dec. 15 – India’s apparel exports declined by 17 percent in October as it lost market share to China, Vietnam and Bangladesh due to the higher cost of fabrics in the local market. Indian apparel exports reach US$603 million in October with exporters complaining of higher cotton prices that has inevitably hiked the cost of […]
Bugatti Supercar to Launch in India
Dec. 15 – Volkswagen will soon launch the legendary French car Bugatti in India, probably the fastest and most expensive car to be released in the country. The Bugatti Veyron, which can reach speeds of more than 400 kilometers per hour, will cost between US$1.2 million and US$2.5 million when it hits the Indian roads.
India Successfully Decodes Human Genome
Dec. 10 – India has successfully decoded the human genome locally making it part of the only six countries in the world to do so. Other countries who have been able to accomplish the feat are the United States, United Kingdom, China, Canada and South Korea. India’s Council of Scientific and Industrial Research (CSIR) says […]
Reliance Group Partners with U.S. Company for 3-D Movies
Dec. 9 – Major Indian conglomerate Reliance ADA Group will partner with a Los Angeles-based company to convert movies into 3-D in a US$40 million facility in Mumbai set to open in January. When it opens the facility will be the largest of its kind in the world also capable of post-production, visual effects and […]
India to Auction Off Radio, Internet Bandwidth Slots Next Year
Dec. 8 – The country’s Department of Telecommunications will hold an auction on January 14, 2010 to sell four slots of bandwidth for 3G phone services and three slots for broadband internet services. Bidding will start at INR35 billion or about US$758 million for a slot of 3G bandwidth and INR17.5 billion or US$378.8 million […]
Tata’s European Arm to Cut 1,700 Jobs
Dec. 7 – The European arm of India-based Tata Steel will in part shutdown its Teesside Cast Products (TCP) plant by the end of January leading to 1,700 job losses. Corus’ decision to slash jobs came after its international slab buyers canceled a 10-year contract to buy almost 80 percent of the plant’s production. Italian […]
Food Prices Increase by 17.5 Percent
Dec. 4 – This year’s poor monsoon has bumped average food prices in India by 17.5 percent according to government reports. A week ago the increase was pegged at 15.6 percent. This will leave the Reserve Bank of India no choice but to restrict money policy to curb inflation while also inevitably increasing interest rates. […]
