The Hindu Business Line : Tuesday, April 01, 2003

Fused magnesia: Dumping duty under review
THE anti-dumping authorities have initiated a mid-term review on the need for continued imposition of anti-dumping duty on fused magnesia imports from China. Sources said that the mid-term review is being undertaken in compliance with the ... More

COURTS/LEGAL ISSUES

Madras HC declines to stall probe on DSQ Software
THE Madras High Court has declined to "stall or interfere" with the investigation by the Kolkata police into the alleged share transfer muddle of the Chennai-based DSQ Software Ltd. All the events and allegations that had been "exposed" by the ... More

ECONOMY

AP moves to third slot in investments
`The process to rope in a strategic partner to set up a Special Economic Zone near Visakhapatnam is at an advanced stage. The Government entered into agreements worth about Rs 17,204 crore at the recent Partnership Summit.' More

`Higher yield, competition vital for India Inc'
INCREASING productivity and competitiveness will spur the performance of Indian industry, according to Dr Carlos Alfredo Magarinos, Director General, UNIDO (United Nations Industrial Development Organisation (UNIDO). He stated this while ... More

ENVIRONMENT

DNA centre served notice on pollution
THE Andhra Pradesh Pollution Control Board has served a notice on the Centre for DNA Fingerprinting and Diagnostics, a Government of India initiative under the Department of Biotechnology, to stop all construction work with immediate ... More

FOREIGN TRADE

Online services will help exporters: DGFT
THE announcement of providing online approvals and other documentation services to exporters through 23 customs ports by way of electronic data interchange (EDI) would herald a new chapter in easing the myriad operational problems plaguing the ... More

INFRASTRUCTURE

BDA allocates Rs 126 cr for infrastructure
THE Bangalore Development Authority (BDA) has for the first time announced its Budget, which amounts to Rs 1,002.6 crore and a surplus of Rs 37.24 crore for the year 2003-04. Of that, Rs 126.20 crore has been allotted to improve ... More

PSU

CAG indicts AP Seeds Corpn for shoddy planning
The CAG report observed that the company had not developed management information system and the maintenance of records was extremely poor. More

PETROLEUM

Import of petrol, diesel decanalised partially
RETAIL marketers of petrol and diesel have now been allowed to import their products. The volume of import will be capped by their license to sell the transportation fuels to aver the possibility of trading, according to Commerce Ministry ... More

POWER

Bengal tables Bill to retain cross-subsidies in power
THE West Bengal Government tabled on Monday — the last day of the budget session of the State Legislature — a bill, which assuming it has an easy passage, will help it retain cross-subsidies on power for now. The State Power ... More

TAXATION

Bengal misses the bus on VAT
DESPITE the State Assembly passing the VAT Bill, the tax system will not be enforced in West Bengal from April 1, as was planned earlier. Dr Ashim Dasgupta, the State Finance Minister, said that although it was earlier expected that the ... More

Partial response to traders' bandh
THE call for a strike by a section of the trading community in the State evoked partial response in the city. The call for a two-day strike was given by a section of the Kerala Vyapari Vyavasyi Ekopana Samithi to protest against the proposed ... More

AP traders down shutters over VAT
RETAIL and wholesale textile traders in Andhra Pradesh downed shutters on Monday in protest against the proposed imposition of value-added tax (VAT). The Andhra Pradesh Federation of Textiles Associations has claimed that nearly 25,000 retail ... More

VAT protest
A large section of the traders in Chennai downed shutters on the first day of the two-day bandh called by the Federation of All India Traders Association to protest the proposed implementation of Value Added Tax from April. A trader in Broadway, ... More

WATER

Additional investments for upgradation — Bottled water prices may become 30-40 pc dearer
THE Indian Bottled Water Manufacturers' Association (IBWMA) is willing to undertake additional investments to upgrade standards in the packaged water industry. At a press meet here, Mr Rajeev Sehgal, President of IBWMA, said, "The price of ... More

EXIM POLICY

Jaitley raises the bar on exports — Gives special thrust to services, SEZs, agriculture in Exim Policy
THE modified export-import (Exim) Policy for 2003-04 aims at identifying the "engines of growth" such as hitherto under-exploited services exports and special economic zones (SEZs) and building the country's core competence in areas like ... More

Exim Policy provides more sops to SEZs
IN a major sop to units located in Special Economic Zones (SEZs), the 2003-04 Exim Policy has exempted domestic sales undertaken by these units from levy of the four per cent special additional duty of customs (SACD). Currently, sales in the ... More

Policy will help greater exports, says Texprocil
TEXTILE exporters are buoyed by the new Exim Policy, especially by the flexibility extended to the application of the export promotion capital goods (EPCG) scheme. The flexible export obligation fulfilment now being granted under the EPCG ... More

`A pragmatic, forward-looking policy' — Mr M. Rafeeque Ahmed, President, FIEO
THE upgraded Exim Policy for the year 2003-04 lives up to the promise that the Minister for Commerce and Industry, Mr Arun Jaitley, and his immediate predecessors have consistently held out to exporters. Till the Iraq war and the disturbed ... More

EPCG scheme made attractive
THE 2003-04 Exim Policy has made the Export Promotion Capital Goods (EPCG) scheme more attractive for exporters by linking export obligations under the scheme to the `duty saved', as against the current norm of pegging these to the value of ... More

Exim Policy proactive, says India Inc
INDIA Inc has welcomed the Exim Policy 2003 as being proactive and keeping long-term objectives in focus. "This Exim Policy has put in place the building blocks for India to achieve one per cent share of world exports by 2007. The Government ... More

Tirupur knitwear exporters cheer Exim Policy
THE annual Export Import Policy for 2003-04 which focuses widening the supportive schemes for export clusters has cheered the Tirupur knitwear industry. The specific thrust imparted for infrastructure development in the export clusters and ... More

Working group to be set on entertainment sector
THE entertainment industry has emerged as a focus area in the Exim Policy announced today with the Commerce Minister, Mr Arun Jaitley, proposing to set up a working group with representatives of the Ministry of Finance, the Administrative ... More

Bengal chambers welcome Exim Policy
LEADING chambers of commerce in the city complimented the Union Commerce Minister, Mr Arun Jaitley, for presenting a "growth-oriented" Exim Policy, 2003-04. Mr Vikram Thapar, President of Indian Chamber of Commerce, said focus on farm exports, ... More

Cochin Chamber hails Exim Policy

EDUCATION

Wigan & Leigh College to set up more facilities
WIGAN & Leigh College India is in the process of expanding its facilities in India. It is investing in a new campus in Kolkata for courses in hotel management, and planning two new campuses in Hyderabad and Pune with an initial investment of Rs ... More

INDUSTRY ASSOCIATIONS

Chamber's plea against merger of clearing houses
THE Indian Chamber of Commerce and Industry has opposed the move to merge the clearing houses of Kochi and Ernakulam. The chamber says it will have an adverse impact on the economic activities of the western part of the city. The chamber ... More

DISINVESTMENT

Govt to file appeal against HC order on Jessop sale
THE Union Government will file an appeal against the order passed by the Calcutta High Court setting aside the sale of the public sector undertaking, Jessop & Co Ltd to Ruia Cotex Ltd, the Union Disinvestment Minister, Mr Arun Shourie, said here ... More

Draft norms for employee bids in PSU sale ready: Shourie
EMPLOYEES of public sector undertakings (PSUs) being put on the block for privatisation need not have to fear about a private entity taking over their company, provided they have the resources to bid and acquire it from the Government. Taking a ... More

INTERVIEW

SEZs important for export thrust: Jaitley
THE Union Commerce and Industry Minister, Mr Arun Jaitley, today strongly defended the thrust given to the special economic zone (SEZ) in the modified Exim Policy for 2003-04, contending that "SEZs will remain one of the important instruments of ... More

EXPORTS & IMPORTS

Govt bullish; war concerns remain — `Indian shipments worth Rs 1,000 cr stuck'
THE Government remains bullish about the country's export performance for the 2003-04 fiscal even as uncertainty surrounds the duration of the Iraq war and the behaviour of international oil prices. "It is almost certain that the merchandise ... More

Revenue loss on sops negligible: CBEC
THE Commerce and Revenue departments may for once be in agreement on the issue of granting incentives to export promotion schemes. Both of them see merit in such incentives, given the market access problems that exporters face in the ... More

NATURAL CALAMITIES

Drought-hit Kerala pins hopes on water tankers
The Government hopes to achieve the `Water for All' target by the year 2007. More

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