International Business News concerning India

1. WEEKLY INTERNATIONAL
NEWS WRAP
October 24 – October 30, 2012

2. Weekly International News Wrap
Hurricane Sandy to close US Canadian clean tech industry India losing ground in apparel
markets for second day on course to overtake exports
The New York Stock Exchange aerospace India is losing ground to new
and the Nasdaq closed on Canada’s $10.6-billion clean competitors like Indonesia,
Monday and will remain shut technology industry is on Bangladesh, Vietnam, Turkey
on Tuesday. The Federal course to eclipse the and Mexico in apparel exports
Reserve Bank of New York was aerospace industry in size to high-margin western
open, but some government within five years, according to destinations, primarily owing
bond trading had to be a report. Read more>> to three factors: the high cost
rescheduled. This is the first of manufacturing, longer
time in 27 years the stock We will not take any steps delivery time and delay in
markets have closed for a full affecting Dhaka, PM tells adapting to trends. Read
day due to adverse weather. Khaleda more>>
Read more>> Prime Minister Manmohan
Singh assured the former Indo-Bangla friendship rally to
India gears up for trilateral Bangladesh Prime Minister, celebrate 100 years of school
with US, Japan Begum Khaleda Zia, that New An Indo-Bangladesh friendship
The trilateral meet will see the Delhi was committed to taking cycle rally would enter into
US explaining its Asia pivot, Dhaka along as it pursued the Bangladesh from Agartala on
while maritime security will be economic growth path and November 6 to commemorate
a major topic of discussion. In would not take any steps 100 years of Iswar Pathshala, a
addition, officials from the detrimental to her country’s high school in Comilla district
three countries will touch on interests. Read more>> of the neighbouring country.
Afghanistan and Central Asia, Read more>>
efforts to embed India in the Bangladesh to convene
regional diplomatic meeting with Bhutan, India Khurshid to appoint envoy to
architecture of the East Asia over Brahmaputra basin Thimpu
Summit, Asean Regional management With Beijing pressing hard to
Forum and APEC. Read more>> Bangladesh is convening a high establish full-fledged
level tri-partite meeting with diplomatic ties with Bhutan,
US economic growth up India and Bhutan aimed at newly appointed external
sharply in third quarter jointly utilizing the water affairs minister Salman
The US economy grew more resources of the Brahmaputra Khurshid’s priority would be to
than expected in the three river especially for power send an Ambassador to
months to September, official generation, Bangladesh High Thimpu as present envoy
figures showed. Read more>> Commissioner to India, Tariq Pavan Varma has put in his
Karim, said. Read more>> papers to try his luck in the
US business investment stalls, political arena. Read more>>
'cliff' looms India, Bangladesh believe they
US business investment have achieved good progress BD slides five steps down in
showed signs of stalling in in all bilateral spheres Ease of Doing Business
September, an indication that "I think that today, the level of Bangladesh slid five steps
worries over a possible sharp friendship and cooperation, down from its last year's
tightening in the federal which exists between the two position to stay at 129th place,
budget are already weighing countries is unprecedented ahead of India, Bhutan and
on the economy. Read more>> between any countries, Afghanistan in the South Asia
anywhere. We have for the region, under the latest 'Ease
Canadian dollar slips as US past three and a half years of Doing Business' index for
economic data improve worked together in all the 2013, released by the
The loonie lost 0.41 of a cent spheres, which concerned us International Finance
to $1.002 (US) after a report and in all the spheres we have Corporation (IFC). Read
showing U.S. economic growth reached good agreements, more>>
picked up momentum in the said Union Home Secretary
third quarter. Read more>> R.K.Singh recently. Read India important for Afghan
more>> stability: Panetta
Emphasising India’s
cooperation for developing
FICCI – Industry’s Voice for Policy Change

3. Weekly International News Wrap
stability in Afghanistan, U.S. SAD (D) seeks visa on arrival roadmap for the next general
Defence Secretary Leon for Sikh pilgrims of both India election, which is scheduled
Panetta said here that India is and Pakistan for early 2012. Read more>>
an important country in the Shiromani Akal Dal (Delhi) has
region and whatever India can demanded from both Indian Much to learn from Bihar
do to bring stability in and Pakistan governments to growth model: Pak envoy
Afghanistan would be very issue visas on arrival to Sikh The Pakistan High
helpful. Read more>> pilgrims of both nations. Read Commissioner in India, Salman
more>> Bashir, has said that Bihar
Pakistan new outreach could Chief Minister Nitish Kumar’s
aid Afghan peace deal India may provide LNG to visit to Pakistan will further
Pakistan has increased efforts Pakistan under favourable strengthen relationship
to reach out to some of its terms between India and Pakistan.
biggest enemies in As a major confidence building Read more>>
Afghanistan, a significant move, India has said it will
policy shift that could prove follow the gas pricing formula Nepal, India agree to solve FM
crucial to US-backed efforts to that is to be implemented in signal overlap
strike a peace deal in the fuel imports through the Iran- Nepal and India have agreed
neighbouring country. Read Pakistan (IP) gas pipeline to settle the problem of radio
more>> project for the LNG it earlier signal overlap in the bordering
offered to export to Pakistan. Tarai districts through an
New Indian FM vows to Read more>> effective coordination
improve ties with Pakistan between the concerned
India’s new External Affairs 50 made-in-India railway ministries of the two
Minister Salman Khurshid said engines to chug into Pak countries. Read more>>
that it would be his endeavour In the first-of-its-kind deal, the
to reinforce the country’s ties Indian Railways will deliver 50 India ranks 132nd in ease of
to Pakistan. Read more>> refurbished American doing business among 185
Locomotive Company (ALCO) economies: World Bank
Thanks to PM, ties with technology locos at an India lags behind neighbours
Pakistan in relaxed phase, estimated cost of Rs. 350 Sri Lanka, Bangladesh and
says Krishna crore. Read more>> Nepal in the rankings on ease
In his last interaction with the in doing Business, despite
media as External Affairs Pakistani Designer Clothing on carrying out most reforms
Minister, S.M. Krishna was Sale in India since 2005, a survey by
confident that his successor The Pakistan Fashion Design International Finance
would continue to play a role Council has entered the Indian Corporation, the private sector
supporting Prime Minister market to sell clothes by lending arm of World Bank
Manmohan Singh’s drive to Pakistani designers to Indian shows. Read more>>
improve relations with customers. The initiative to
Pakistan and China. Read open its first store in India Brazil: the world's 21st
more>> comes amid recent efforts by Century breadbasket
the two rivals to improve trade Brazil has for centuries been
First dedicated auction of ties. Read more>> known as a leading producer
Pakistani art in India goes and exporter of the world's
online on November 7 Pakistan Parliament may be breakfast, or soft,
The country's premier art dissolved in January; elections commodities - orange juice,
auction house, Saffronart.com to be held by April coffee, sugar and cocoa. But
is going to host the first ever Pakistan's Parliament is likely over the past two and a half
auction of Pakistani art in India to be dissolved in January decades since opening to
on November 7 and 8. The 24- 2013 and a caretaker foreign participation, Latin
hour online auction that will government installed to America's largest economy has
begin at 9.30pm on November oversee elections to be held by also become a leading supplier
7 will feature 70 works of art April. Speculation has of important grains and meats,
by masters past and present increased in political circles through investments in
from across the border. Read about the government technology and land. Read
more>> preparing a preliminary More>>
FICCI – Industry’s Voice for Policy Change

4. Weekly International News Wrap
FDI inflows to Latin America Singapore Deputy Prime Canada, Australia prime
rises 8 Percent in Six months Minister Teo Chee Hean today ministers to be in Punjab
to US$ 94.3 billion asked the local industry to With the premiers of two
Inflows of Foreign Direct explore more business countries - Canada and
Investment to 17 Latin opportunities in India. Read Australia - slated to be in
America’s countries rose 8% in more>> Punjab in the first week of
the first six months of 2012, November, the state
compared to the same period India, Brunei looking at joint government is making
a year ago, reaching US $ venture in hospitality elaborate arrangements to
94.331 billion. Read More>> development make their stay a memorable
India and Brunei will explore one. Read more>>
Panama offers gateway to the possibilities of having joint
Latin America ventures in hospitality and Indo-Mauritius biz meet: New
Panama will be an effective infrastructural development. avenues to expand trade
gateway to penetrate into a Brunei will also consider discussed
huge Latin American market investing in India's hotel New areas of engagement and
with a population of 600 sector, which has been opened ways to expand bilateral trade
million, Ricardo Martinelli, up for 100 per cent Foreign relations were discussed at the
President of the Republic of Direct Investment (FDI). Read India-Mauritius Business
Panama, told a business more>> Round Table held at the island
conference. Read More>> nation which is the top source
India to diversify energy of foreign direct investment in
Chinese companies play vital sourcing India. Read more>>
role in Brazil's growing India is increasingly moving
economy beyond West Asia in search for SBI opens seventh branch in
Brazil's booming domestic energy sources. For a country South Africa
market and its growing that imported over 76% of its At the inauguration of the new
importance in global economy fossil fuel requirements in branch, Indian High
have attracted a number of 2011-12 for an estimated $140 Commissioner Virendra Gupta
foreign companies to seek billion (Rs 7,48,580 crore) from said South Africa is seen as a
opportunities in the country, the region, against $100 billion launchpad for investment into
including Chinese ones. Read (Rs 5,34,700 crore) in 2010-11, Africa and most of the big
More>> making an business houses of India have
immediate geographic shift is set up business here. Read
GMR Plans Minority Stake easier said than done. Read more>>
Buys In Myanmar And Latin more>>
American Airports Essar shores up Greenfield
GMR is planning to buy India to get record Malaysian investments
minority stakes in the palm oil Indian giant Essar Africa
proposed airport projects in Malaysian palm oil exports to investment into the defunct
Myanmar (Burma) and Latin India are likely to touch a Zimbabwe Iron and Steel
America. Read More>> record high of over two million Company (Ziscosteel) has
tonnes (mt) in calendar 2012. helped shore up the country’s
Indian Navy ship docks in Bali "Due to the export duty cut greenfield investments from
An Indian Navy sail training announced by Malaysia Read $0,8 billion in 2010 to $5,8
ship, which is on an expedition more>> billion last year, latest figures
to retrace the route along have shown. Read more>>
monsoon winds, arrived in Bali Aung San Suu Kyi to kick off
on Saturday, with its captain India visit from Nov 13 India-SA ties see trade on the
hoping that its emotional A photograph of Aung San Suu increase
connect would help in Kyi during her visit to the Trade between South Africa
enhancing people to people world's oldest democracy and India is growing
connectivity between India captures the resolve and rise exponentially due to strong
and Indonesia. Read more>> of the Burmese heroine of political backing and
democracy. It shows her commercial demand.
Singapore Dy PM calls on local receiving the US Congressional According to reports in the
industry to expand biz in India Gold Medal, Read more>> Indian media, trade between
FICCI – Industry’s Voice for Policy Change

5. Weekly International News Wrap
the two countries is expected Lemken sets up first non- $1,537 per tonne on
to reach $15-billion this year, European manufacturing shipments of a chemical used
three years ahead of the initial plant in Nagpur in beauty products, from EU,
2015 target. Read more>> In a bid to take a slice of the Iran, Indonesia and Japan,
estimated Rs 3,000-crore agro saying it was being exported to
Patient outflow to India equipment market in India, India below cost price. Read
have Nigerian doctors Germany-based manufacturer more>>
worried Lemken GmbH and Co KG has
India's trade relations with set up its first non-European India Stresses Iran's Important
Nigeria might be improving, manufacturing unit at Butibori, Regional Role
but the growing trend of Nagpur. Read More>> Speaker of the Indian Lok
Nigerians seeking medical Sabha (Parliament) Meira
treatment in India has India, Spain sign 5 pacts Kumar in a meeting with an
become a cause of worry for India and Spain recently signed Iranian parliamentary
the Nigeria Medical five pacts, including a protocol delegation called Iran an
Association (NMA), which for amending the over 19- important country in the
says that the huge outflow of year-old double taxation region, stressing New Delhi's
patients is a matter of avoidance pact to check tax willingness to expand relations
concern. Read more>> evasion. Read More>> with Tehran. Read more>>
Indian firms reap bitter India seeks Israeli expertise in Iran relents on Indian wheat
harvest in Africa renewable energy sector import
Indian companies which Almost 12 per cent of the The row with Iran over the
invested in controversial deals energy generated in India is presence of rust in the Indian
involving hundreds of through renewable sources, wheat seems to have settled
thousands of acres of land in comprising small hydro, bio- for now. Read more>>
Ethiopia have found mass, wind and solar power.
themselves out of their depth Now, the Government is keen World's spare oil capacity
in a fast-growing African that electricity produced from grows as Iran sanctions bite
economy that is still in the large hydro should be included The world's spare oil
process of building critical in this category so that the production capacity outside of
transport and irrigation share of renewables in the Iran rose in last two months as
networks. Read more>> overall energy mix rises to gasoline demand waned in the
about 31 per cent, stressed United States and oil use for
Sun Pharma may fund new Gireesh Pradhan, Secretary, power generation fell in the
telecom joint-venture with Ministry of New and Middle East, the U.S.
Telenor Renewable Energy. Read government said in a
India's fifth largest pharma more>> bimonthly report. read
company by market size, Sun more>>
Pharma could be readying DAV varsity plans to go global
itself to fund its executive Aiming to encourage use of Iran to Invest $250mln in IPI
director Sudhir Valia's private world-class techniques and Peace Pipeline Project
investment in the Norwegian practices to engineer Tehran plans to invest $250
telecom firm Telenor. Read profitability in already sagging million in the construction of
More>> farming sector, DAV University the Pakistani side of a pipeline
here is contemplating project which is due to take
India's Tata Steel to invest collaboration with Israel Iran's rich gas reserves to the
$645 million in Europe government for introducing a energy-hungry Pakistan, an
Tata Steel, the world's largest four-year agricultural informed source said, adding
steel company, will invest engineering course in India. that a team of experts from
millions in Europe to combat Read more>> the Iranian Oil Ministry will
sluggish returns in India. travel to Islamabad this week
Europe accounts for nearly Anti-dumping duty on to sign a relevant agreement.
two-thirds of sales and chemical imports from EU, Read more>>
production for the Indian Iran, Japan
steelmaker. Read More>> The government has imposed Art, cultural shows help in
anti- dumping duty of up to fostering ties: Indian envoy
FICCI – Industry’s Voice for Policy Change

6. Weekly International News Wrap
Art and cultural events have India and China, both
the alluring power to bring emerging countries, should
together not only the people become “inseparable strategic
of different regions from partners” overcoming the
across the world, but they also “deep scars” inflicted by the
go a long way in fostering 1962 war and should make its
relations among people of 50th anniversary a starting
different cultures and point for a promising bilateral
backgrounds. Read more>> cooperation. Read More>>
Ensure rights of air India, China renew push to
passengers, Indian govt urged bridge deficit ahead of trade
An Indian expatriate group has talks
urged the Indian government With India and China set to
to pass laws to ensure that the hold their annual Strategic
rights and interests of air Economic Dialogue (SED) in
passengers are safeguarded. New Delhi in the last week of
Read more>> November, China indicated its
willingness to provide better
Oman waives huge fines for market access by promoting
stranded labourers India as a partner-country at a
Amidst frequent news of major automobile
absconding workers and components’ fair. Indian
crackdown against illegals, the officials will provide more to
Omani authorities and Indian support investments in China
embassy have warmed the and help equip companies,
cockles of many hearts by which are often unaware of
showing their humanitarian the specific challenges of the
side by helping stranded China market, to make more
labourers reunite with their robust entries. Read More>>
families. Read more>>
Metro gets Japanese award
Godrej announces tie-up with The Delhi Metro Rail
MHD Corporation (DMRC) was
Godrej Locking Solutions and awarded the prestigious Japan
Systems, India’s leading player International Cooperation
in locking solutions, is eyeing Agency (JICA) President’s
the Oman market for a major Award 2012 on Monday. Read
retail expansion in the region. More>>
Read more>>
India, US, Japan discuss
UAE trade body invites Indian maritime security
entrepreneurs to set up Senior officials of India, the
business US and Japan held their third
Recognizing the rapid growth trilateral dialogue that
and huge potential, focused on firming up
particularly among SMEs in strategies to combat piracy,
Maharashtra, Ras Al Khaimah bolstering maritime security
Free Trade Zone Authority and leveraging their strengths
(RAK FTZ) has invited Indian to shape the Asia-Pacific
entrepreneurs to set up architecture. Read More>>
business in the United Arab
Emirates (UAE). Read more>>
India-China should become
inseparable strategic partners
FICCI – Industry’s Voice for Policy Change