India Business Insight articles from February 2006

India Business Insight archives from February 2006

PROSPECTS FOR INDIA: KPO OR BPO? (a study says that India would become knowledge processes outsourcing destination).
February 28, 2006... (From India Business Insight) The information technology (IT) industry earned total income of $28.2 billion in 2004-2005. Information technology (IT)-information technology enabled service (ITES) business processes outsourcing (BPO)...

A TALE OF WASTED EFFORT! (BNHR amendment bill evokes anger and disappointment among professionals).
February 28, 2006... (From India Business Insight) The Bombay Nursing Homes Registration (Amendment) Bill 2005, passed recently by both the houses of Maharashtra Legislature and awaiting Governor's assent, has evoked anger and disappointment among...

UNIQUE CLINICAL DECISION SUPPORT SYSTEM, NOW IN INDIA (website to reduce and manage diagnostic errors).
February 28, 2006... (From India Business Insight) Medical error is said to be the sixth leading cause of death in the US. It has been found 98,000 deaths per year occur due to preventable medical error. To reduce and manage diagnosis errors a validated...

NEW DIAGNOSTIC TEST TO IMPROVE CHANCES OF PREGNANCY (Follicular Fluid FISH test detects chromosomal defect in the ovary).
February 28, 2006... (From India Business Insight) Follicular Fluid FISH (FFF) test, which is now becoming popular in Mumbai, has given a boost to infertility treatment, whose success at present is put at 45-48 percent. The test detects chromosomal defect in...

WIDE OPEN SPACE-THE MEDICAL DEVICE MARKET IN INDIA (Indian market for medical equipment and supplies is worth $260 million).
February 28, 2006... (From India Business Insight) The medical devices industry is one of the fastest growing industries. Its global market is estimated at over $260 billion. The Indian market for medical equipment and supplies is worth $260 million. It is...

TRIVITRON LAUNCHES AN MRI SYSTEM (NAMPO-23A-023 Tesla MRI system offers excellent image quality and high diagnostic certainty).
February 28, 2006... (From India Business Insight) Trivitron India has installed NAMPO-23A-023 Tesla magnetic resonance imaging (MRI) system in MS Ramaiah Medical College, Bangalore. The NAMPO-23A-023 of the Neusoft Digital Medical System is most compact...

ECONOMY'S ON A ROLL (Economic Survey calls for a correction in the anomalous differential tax rates for crude and petroleum products).
February 28, 2006... (From India Business Insight) According to the Economic Survey presented by the Minister of Finance of the Government of India in Parliament on 27 Feb 2006, the gross domestic product of the country for 2005- 2006 is estimated to grow...

FISCAL PRUDENCE TO STAGE A COMEBACK (Economic Survey calls for resumption of the fiscal consolidation programme from 2006-2007).
February 28, 2006... (From India Business Insight) The Economic Survey, presented by the Minister of Finance of the Government of India in Parliament on 27 Feb 2006, has stressed the need for resuming the fiscal consolidation programme from 2006-2007 to...

WIDENING CURRENT ACCOUNT DEFICIT LEADS TO DIP IN FOREX ACCRETION (India's foreign exchange reserves have declined by $2 billion to $139.2 billion for Apr 2005-Jan 2006).
February 28, 2006... (From India Business Insight) According to the Economic Survey presented by the Minister of Finance of the Government of India in Parliament on 27 Feb 2006, India's foreign exchange reserves have declined by $2 billion to $139.2 billion...

PACE OF POWER REFORMS NEEDS TO BE EXPEDITED (the rate of return of state electricity boards has improved from minus 32% in 2004-2005 to minus 26% in 2005- 2006).
February 28, 2006... (From India Business Insight) The Economic Survey, presented by the Minister of Finance of the Government of India in Parliament on 27 Feb 2006, has indicated a marginal improvement in the financial health of the power sector of India in...

PETROLEUM, GAS REGULATOR TO BOOST COMPETITION (the government is in the process of setting up a petroleum and natural gas regulatory board).
February 28, 2006... (From India Business Insight) According to the Economic Survey, presented by the Minister of Finance of the Government of India in Parliament on 27 Feb 2006, the domestic refining capacity has increased from 118.37 million tonnes a year...

ALLOW CAPTIVE COAL MINING FIRMS TO SELL EXCESS PRODUCTION (Economic Survey suggests a number of measures for increasing coal mining activities in the country).
February 28, 2006... (From India Business Insight) The Economic Survey, presented by the Minister of Finance of the Government of India in Parliament on 27 Feb 2006, has suggested a number of measures for increasing coal mining activities in the country, to...

PPP TO LAY ROAD FOR CORE GROWTH (Government of India has finalised a model concession agreement for the road sector).
February 28, 2006... (From India Business Insight) The Economic Survey, presented by the Minister of Finance of the Government of India in Parliament on 27 Feb 2006, has stated that public-private partnership (PPP) can contribute vastly to the growth of...

BANKS NEED MORE CAPITALISATION (public sector banks have sufficient government equity for dilution through public offerings, to raise capital).
February 28, 2006... (From India Business Insight) According to the Economic Survey, presented by the Minister of Finance of the Government of India in Parliament on 27 Feb 2006, the Indian banking industry will require additional capitalisation owing to...

OVER 38% COST OVERRUN ESTIMATED FOR 171 CENTRAL PROJECTS (the cost overrun of infrastructure projects has declined from 62% in Mar 1991 to 18.1% in Sep 2005).
February 28, 2006... (From India Business Insight) According to the Economic Survey, presented by the Minister of Finance of the Government of India in Parliament on 27 Feb 2006, as of Sep 2005, of the 683 infrastructure projects with an estimated cost of...

NEW SOCIAL SCHEMES MARK SHIFT IN FOCUS TO QUALITY (public expenditure in the social sector has increased to Rs2,052 billion for 2005-2006).
February 28, 2006... (From India Business Insight) According to the Economic Survey, presented by the Minister of Finance of the Government of India in Parliament on 27 Feb 2006, there has been a consistent increase in public expenditure in the social...

HCL, CISCO IN NEW DEAL (HCL-Cisco's 10-year-old partnership to transform from a cost-based pricing model to a risk-reward 'Royalty' model).
February 28, 2006... (From India Business Insight) HCL Technologies, an information technology company, has announced the transformation of its 10-year-old partnership with Cisco Systems, a US-based global networking company, from a cost-based pricing model...

BUN, TEA and BUBBLY (bank credit to industries has surged 45.7 percent).
February 28, 2006... (From India Business Insight) The Economic Survey 2005-2006 shows that India is moving towards a gross domestic product growth of 8 percent, but areas that could affect political outcomes include rising food prices, increasing...

TELEKOM MALAYSIA PICKS 49% IN SPICE (the company has a debt burden of about $200 million).
February 28, 2006... (From India Business Insight) Telekom Malaysia is set to acquire a 49 percent stake in the BK Modi-controlled Spice Telecom with an enterprise valuation of around $600 million. Telekom Malaysia is to buyout the holding of Ashmore...

ZYDUS CADILA CONSIDERS JAPAN, AUSTRALIA FORAY (looks to enter Japan within next 2-3 years).
February 28, 2006... (From India Business Insight) Pharmaceutical major Zydus Cadila of Ahmedabad is considering the possibility of entering the lucrative international markets of Japan and Australia. It has recently been focusing on the generic market in the...

MADHUCON BAGS LONGEST HIGHWAY PROJECT (project to connect Madurai and Tuticorin in NH45B section).
February 28, 2006... (From India Business Insight) Madhucon Projects has bagged a contract from the National Highway Authority of India to develop the longest build-operate-transfer project highway project in the country. The project entails connecting...

HYDERABAD NOW BECKONS GLOBAL HOSPITALITY COS (city to have 4,450 rooms in 4-5 star category by 2009).
February 28, 2006... (From India Business Insight) Hyderabad presently has about 1,100 hotel rooms in the 4-star and 5-star categories and this is expected to expand to 4,450 rooms in the medium term by 2009. Several leading international and domestic...

METROPOLIS TO EXPAND LAB SERVICES TO TN AND KERALA (to provide lab management services to four hospitals).
February 28, 2006... (From India Business Insight) Metropolis Health Services India, which operates one of the largest chains of diagnostic centres in the country, will soon be extending its lab management services to four hospitals in Tamil Nadu and Kerala....

PANGEA3 TO DOUBLE ITS HEADCOUNT (considering Bangalore, Pune and Delhi for expansion).
February 28, 2006... (From India Business Insight) Legal process outsourcing firm Pangea3 of Mumbai is looking to expand its presence to new locations and double its staff by end of 2006. The law firm is considering Bangalore, Pune and Delhi as possible...

CORPORATE'S SPLURGE ON GOA CARNIVAL (Kingfisher Airlines spends Rs20 lakh on promotion).
February 28, 2006... (From India Business Insight) Leading corporates such as Reliance Infocomm and Kingfisher Airlines are advertising heavily in Viva Carnival, Goa's colourful and celebrated festival. Kingfisher Airlines has spent about Rs20 lakh for...

RCSE SET TO TIE UP WITH CMRI (first MRCS oral and clinical examinations at Kolkata).
February 28, 2006... (From India Business Insight) The Royal College of Surgeons of England will soon be conducting it first MRCS oral and clinical examinations in India at Kolkata. RCSE has entered into an alliance with the Calcutta Medical Research...

HCL TECH, CISCO IN REVENUE SHARE DEAL (pact shifts some of the risk from Cisco to HCL).
February 28, 2006... (From India Business Insight) HCL Technologies has tied-up a revenue sharing arrangement with Cisco Systems for the products that it develops or enhances for the latter. This move comes on the back of escalating software development...

TESSOLVE TO CHIP IN $200 M FOR TAPP UNIT (facility expected to become operational by early 2007).
February 28, 2006... (From India Business Insight) Tessolve Services, a provider of cost-effective solutions to semiconductor manufacturers for test development and failure analysis, is planning to set up a Testing Assembling Packaging and Prototyping (TAPP)...

GAIL MAY TWEAK ITS LPG LINES TO CARRY MORE PETRO PRODUCTS (first-of-its-kind petroleum transportation initiative).
February 28, 2006... (From India Business Insight) Gail (India) is looking at the possibility of converting all its LPG pipelines into multi-product platforms in a first-of-its-kind petroleum transportation initiative in the country. The company is planning...

PRAJ TIE-UP WITH AKER KVAERNER (Praj plans an operating base in the European Union).
February 28, 2006... (From India Business Insight) Praj Industries has signed a memorandum of understanding with Aker Kvaerner Netherlands BV for strategic co-operation on bio- ethanol projects in Europe. The two companies will pursue business opportunities...

NICE DENIES STAKE SALE/SPV (no plans to take up real estate component of project).
February 28, 2006... (From India Business Insight) Nandi Infrastructure Corridor Enterprise (NICE), the implementing agency for the Bangalore-Mysore Infrastructure Corridor Project, has issued a clarification that there has been no communication or...

MAJOR CUTS IN CONTAINER HANDLING CHARGES AT CPT (container handling charges down by Rs2,900 per teu).
February 28, 2006... (From India Business Insight) The Cochin Port Trust has effected a significant reduction in container handling charges at the port. It has reduced reefer export container charges by as much as Rs2,900 per twenty-foot equivalent units...

BAJAJ ALLIANZ PIPS ICICI PRU IN NEW POLICIES (new business premium of Rs1,680 crore up to Jan 2006).
February 28, 2006... (From India Business Insight) Bajaj Allianz Life Insurance has overtaken ICICI Prudential to record the highest collections from new policies during the fiscal up to Jan 2006. Bajaj Allianz has generated total new business premium of...

SEZ ACT TO PROPEL GROWTH (India to further open up its investment policies).
February 28, 2006... (From India Business Insight) The Government of India is planning to announce a new Special Economic Zone Act during 2006-2007 and further open up the investment regime for both domestic and foreign capital to give a boost to the...

POWERFULL MESS (peak power shortage in India rises to 12.5 percent).
February 28, 2006... (From India Business Insight) The Indian power sector has witnessed a decline in its power generation growth rate from 6.5 percent in Apr-Dec 2004 to 4.7 percent in Apr-Dec 2005. Peak power shortage in the country has increased from...

CHEMICALS, PHARMA UP; PETROCHEM STAGNANT (pharma exports up at $3.8 billion for 2005-2006).
February 28, 2006... (From India Business Insight) The Economic Survey 2005-2006 shows that the Indian pharmaceutical industry earned $3.8 billion in exports during 2005-2006 as compared to $3 billion in 2004-2005. The domestic pharmaceutical market has...

GO FOR KILL TO ATTRACT INVESTORS (India's share in global FDI at 0.8 percent).
February 28, 2006... (From India Business Insight) Analysts say that India needs to acquire the killer instinct when it comes to competing with other nations to attract a larger share of foreign direct investment into the country. Foreign investment inflows...

PORTS IN FULL STEAM (Indian ports to get Rs7,910 crore private investment).
February 28, 2006... (From India Business Insight) The Ministry of Shipping, Government of India has recently approved the National Maritime Development Program (NMDP), which seeks to increase capacity at major ports from 397.5 million tonne levels at...

HORTICULTURE NEW STAR (fruits and vegetable exports at $207.1 million in Apr-Oct 2005).
February 28, 2006... (From India Business Insight) Farm exports from India have increased to $4,885.5 million during Apr-Oct 2005 as against $4,181.4 million in 2004-2005. The country's farm imports declined from $2,223.6 million to $2,203.6 million over the...

PRIVATE TELCOS CONNECT BETTER IN '05 (tele-density in India at 11.32 percent in Dec 2005).
February 28, 2006... (From India Business Insight) The Economic Survey 2005-2006 shows that the private sector accounted for 54 percent of total telephone connections in India as of Dec 2005. The total subscriber base of broadband services has increased from...

AIRPORT MANAGEMENT CHANGE SOON (passenger traffic up 24.2 percent in Apr-Dec 2005).
February 28, 2006... (From India Business Insight) The Government of India is getting ready to hand over management control of the Delhi and Mumbai airports to private parties before the end of 2005-2006. The GMR-Fraport consortium has been chosen as the...

CASTOR OIL SECTOR AIMS AT EXPORTS OF 2.9 LAKH TONNES BY NEXT FISCAL (castor seed output to rise 12 percent in 2005-2006).
February 28, 2006... (From India Business Insight) Castor oil exporters in India have targeted increasing exports of the oil and its derivatives by 10 percent to 2.9 lakh tonnes in 206-2007. The country's castor seed production is estimated to rise by 12...

BROILER CHICKEN PRICES CRASH TO ALL-TIME LOW (shell eggs sector estimates losses at Rs10 crore).
February 28, 2006... (From India Business Insight) The National Egg Co-ordination Committee, Namakkal Zone, has reduced egg prices to 50 paise per egg on 27 Feb 2005 after having brought prices down to 90 paise per egg in the previous week. Prices of broiler...

SPENTEX BUYS 50 LAKH SHARES OF AMIT SPNG (to hold 44.14 percent in company after preferential allotment).
February 28, 2006... (From India Business Insight) Spentex Industries Ltd has entered into a share purchase agreement to acquire 50.91 lakh equity shares of Amit Spinning Industries at a price of Rs11 per share on a spot delivery basis from the outgoing...

PFIZER Q4 NET UP 24 PC (board proposes dividend of Rs10 per equity share).
February 28, 2006... (From India Business Insight) Pfizer Ltd has reported a 23.63 percent increase in net profit at Rs17.37 crore for the quarter ended 30 Nov 2005 as against Rs14.05 crore in the quarter ended 30 Nov 2004. The company's total income has...

BHPV BAGS Rs96-CR HPCL ORDER (to execute project related to 140 TPH boilers).
February 28, 2006... (From India Business Insight) Bharat Heavy Plate and Vessels Ltd (BHPV) as won a contract worth Rs96 crore from Hindustan Petroleum Corporation Ltd. The order entails design, engineering, procurement, fabrication, construction,...

FDA NOD FOR WOCKHARDT'S RANITIDINE (market size for the drug is estimated at $61 million).
February 28, 2006... (From India Business Insight) The US Food and Drug Administration has given approval to Wockhardt Ltd for marketing its ulcer drug Ranitidine 75 mg tablets as an over-the-counter product in the US market. Ranitidine is the generic...

SANMAR GROUP PLANS TO SHED MORE STAKE IN INDIA CEMENTS (holding in India Cements to come down to six percent).
February 28, 2006... (From India Business Insight) The Sanmar group is looking to further bring down its stake holding in India Cements. Three investment firms belonging to the promoters of India Cements are to acquire 4.19 percent stake from Stargate...

SETHU CANAL: DREDGING CORP MAY GET MORE BLOCKS (it is now dredging a section of the Palk Strait area).
February 28, 2006... (From India Business Insight) TR Balu, Minister for Shipping, Government of India, says that Dredging Corporation of India may get more portions of dredging work in the Sethusamudram Canal project. The company is currently in the process...

MAHINDRA FINANCIAL FIXES IPO PRICE AT Rs200 (M and M earns Rs200 crore by reducing stake to 67 percent).
February 28, 2006... (From India Business Insight) Mahindra and Mahindra Financial Services Ltd (MMFSL) has priced its shares at Rs200 each following its successful initial pubic offer, which was subscribed nearly 27 times. The company had come out with an...

eINFOCHIPS TO SET UP OUTFIT IN JAPAN (plans development campuses in Ahmedabad and Pune).
February 28, 2006... (From India Business Insight) Semiconductor design services provider eInfochips of Ahmedabad is planning to set up a wholly owned marketing subsidiary in Japan later in 2006. The company is looking to enter the Japanese market with...

JET SYSTEM TO TRACE MISSING BAGGAGE (passengers can check baggage status online).
February 28, 2006... (From India Business Insight) Jet Airways is planning to offer an online facility to its passengers for tracing missing baggage. The facility would enable travellers to check the status of their missing or delayed baggage using an...

HIGH CREDIT RATING FOR ONGC BONDS (both agencies assign AAA rating to Rs50 crore issue).
February 28, 2006... (From India Business Insight) Rating agencies CRISIL and ICRA have both accorded high credit rating to the Rs50 crore notional convertible debenture issue of Oil and Natural Gas Corporation. CRISIL has extended an AAA rating to the...

JK CEMENT FIXES IPO PRICE AT Rs148 (company had come out with an IPO of two crore shares).
February 28, 2006... (From India Business Insight) JK Cement Ltd, a leading producer of grey cement in north India, has fixed the issue price for its recently concluded initial public offering at Rs148 per share. The company had entered the capital market...

CORE SECTOR GROWTH SLOWS TO 3.3% IN JAN (core sector growth down at 4.3 percent in Apr 2005-Jan).
February 28, 2006... (From India Business Insight) Growth in the six infrastructure sectors in the Indian economy declined to 3.3 percent during Jan 2006 as compared to 4.2 percent growth in Jan 2005. These six core infrastructure sectors have a combined...

FOOD PROCESSING: GOVT BID TO WOO BIG BIZ HOUSES (processed food industry generates Rs2,80,000 crore).
February 28, 2006... (From India Business Insight) The Ministry of Food Processing, Government of India, is looking to push for creating a conducive fiscal environment in a bid to attract venture capital and mutual funds to invest in various components of...

TEA EXPORTS DOWN 5 PERCENT (output up four percent at 927.9 million kgs in 2005).
February 28, 2006... (From India Business Insight) The Indian Tea Association says that tea exports from the country have fallen by five percent to 187.6 million kgs in 2005. It says that tea imports have also declined by 47 percent to 16.47 million kgs in...

LOW CARDAMOM PRICES POSE PROBLEMS (average price down to Rs200 per kg in current season).
February 28, 2006... (From India Business Insight) Low prices for cardamom in India for the 2005-2006 season have created problems for growers, with the average price at about Rs200 per kg in the current season compared to the average auction price of...

ECONOMIC SURVEY PROPOSES REFORMS IN TAX SYSTEM (the survey has cautioned about the possible risks).
February 28, 2006... (From India Business Insight) The Government of India Economic Survey 2005-2006 has proposed several reforms in the tax system in India. The industrial sector in the country is likely to receive some relief in taxes. The survey has...

CHICKEN, EGGS BACK ON RAILWAY MENU (Indian Railways has instructed the catering units to strictly follow the WHO norms).
February 28, 2006... (From India Business Insight) Indian Railways has allowed serving of chicken and egg dishes by the static and mobile catering units. The Railways has instructed the catering units to strictly follow the guidelines of World Health...

LUPIN DIVESTS STAKE IN THAI ARM (for Rs4.75 crore).
February 28, 2006... (From India Business Insight) Lupin Ltd has decided to divest its stake in its subsidiary, Lupin Chemicals (Thailand) Ltd (LCTL). The company holds 60 percent stake in LCTL and G Premjee Group of Thailand holds 40 percent stake. The board...

PRAJ IN PACT WITH AKER KVAERNER (to set up bio-ethanol projects in Europe).
February 28, 2006... (From India Business Insight) Praj Industries Ltd has signed a memorandum of understanding with Aker Kvaerner Netherlands B.V. to set up bio-ethanol projects in Europe. The company specialises in technology, design, engineering,...

NPPA RECOVERS Rs99 CRORE FROM DRUG COS (the authority has raised total demand of Rs693.94 crore from 331 cases of overcharging of drugs).
February 28, 2006... (From India Business Insight) The National Pharmaceutical Pricing Authority (NPPA) has recovered Rs98.76 crore from pharmaceutical companies till Jan 2006. The authority has raised total demand of Rs693.94 crore from 331 cases of...

INDO-ISRAEL TRADE GROWS BY 16.54% (the countries intend to achieve bilateral trade of $5 billion by the end of 2007).
February 28, 2006... (From India Business Insight) Bilateral trade between India and Israel has gone up by 16.54 percent to $2,500.5 million in 2005 ($2,145.6 million in 2004). Exports from India were at $1,276.3 million and those from Israel were at...

NTPC PLANS JOINT VENTURE WITH COAL INDIA (to meet additional requirement of coal in the eastern region).
February 28, 2006... (From India Business Insight) NTPC Ltd is planning to set up a 50:50 joint venture with Coal India Ltd (CIL) to develop new coalmines. The company intends to initially develop two virgin blocks to meet additional requirement of coal for...

EXIM BANK TO INVEST $7 MILLION IN ANIMATED FEATURE FILM (the bank has invested nearly Rs85 crore in film projects since Apr 2004).
February 28, 2006... (From India Business Insight) Export-Import Bank of India (Exim Bank) is planning to invest $7 million in a full-length animated feature film being produced by Rich Crest and Lions Gate Entertainment. Rich Crest will invest $3...

RUPEE ENDS WEAK AGAINST DOLLAR (the rupee has declined by 0.12 percent on 27 Feb 2006).
February 28, 2006... (From India Business Insight) The Indian rupee has declined by 0.12 percent against the US dollar on 27 Feb 2006. Public sector banks had entered the market late in the day to buy dollars against the rupee. The rupee closed the day at...

INTEREST RATES MAY FIRM UP: SURVEY (the policy is expected to strike a balance between credit quality and associated risks).
February 28, 2006... (From India Business Insight) The Government of India Economic Survey 2005-2006 expects the interest rates to firm up due to tightening of liquidity. The Reserve Bank of India is likely to maintain the required liquidity in the system...

SARASWAT BANK BETS BIG ON MICRO FIN, IT (the bank has set up an IT subsidiary with Infrasoft Technologies).
February 28, 2006... (From India Business Insight) Saraswat Co-operative Bank Ltd is planning to increase its exposure to micro-financing and information technology (IT). The bank is planning to set up a wholly owned subsidiary for micro financing. The...

LIC HOPES FOR RECORD GROWTH (the corporation has formed a committee to study the option of launching credit cards).
February 28, 2006... (From India Business Insight) Life Insurance Corporation of India (LIC) expects to announce a record growth in 2005-2006. The corporation has recorded a growth of 24.6 percent in the number of policies till 15 Feb 2006. LIC has...

UTI BANK'S DEBT ISSUE GETS 'AA+' (Fitch Ratings has also affirmed the AA+ rating for the existing Rs1,500-crore debt programme).
February 28, 2006... (From India Business Insight) UTI Bank has received a rating of AA+ from Fitch Ratings for its proposed sale of subordinated debt of Rs1,000 crore. Fitch Ratings has also affirmed the AA+ rating for the existing subordinated debt...

CORE BANKING IN 500 BoI BRANCHES (HP will implement and manage core banking solution in 750 branches of the bank).
February 28, 2006... (From India Business Insight) Bank of India (BoI) has introduced core-banking solution (CBS) in 500 branches across the country. Hewlett-Packard (HP) has implemented the CBS based on Finacle of Infosys within 15 months. HP will implement...

FEDERAL BANK SEEKS RBI NOD FOR 49 PC FII LIMIT (over 99 percent of the investors are in favour of raising the FII limit).
February 28, 2006... (From India Business Insight) Federal Bank has asked the Reserve Bank of India (RBI) for permission to raise the investment limit for foreign institutional investors (FII) from 24 percent to 49 percent. Over 99 percent of the investors...

KANDLA PORT EMBARKS ON Rs5,081-CRORE EXPANSION (intends to add a capacity of 32.4 million tonnes in the next five years).
February 28, 2006... (From India Business Insight) Kandla Port Trust (KPT) is planning to invest Rs5,081 crore to expand its capacity in the next five years. KPT intends to add a cargo handling capacity of 32.4 million tonnes to reach a total capacity of...

CONTRACTS FOR STRETCHES UNDER NHDP TO BE AWARDED SOON (the contracts will exclude stretches in Jammu and Kashmir and West Bengal).
February 28, 2006... (From India Business Insight) The Government of India intends to award contracts for road construction under the National Highway Development Programme (NHDP) by Mar 2006. The contracts are for stretches along North- South and East-West...

CONGESTION AT MAJOR PORTS RISING (the average turnaround time has gone up to 3.53 days in Apr- Dec 2005).
February 28, 2006... (From India Business Insight) Congestion at major ports in India has gone up in Apr-Dec 2005. The average turnaround time has gone up from 3.45 days in 2003- 2004 to 3.53 days in Apr-Dec 2005. Berthing time at the major ports has...

'AUTO EXPORTS STAY UNTAPPED' (the automobile industry is expected to attract investment of Rs80,000 crore by 2007).
February 28, 2006... (From India Business Insight) The Government of India Economic Survey 2005-2006 has revealed that the export potential of the Indian automobile industry is not fully tapped. The automobile industry in India is expected to attract...

TEXTILE SECTOR REGISTERS 'MODERATE' EXPORT GROWTH (the industry has failed to capitalise on the quota-free regime).
February 28, 2006... (From India Business Insight) The textile sector in India has registered a moderate growth in exports in 2005-2006. Exports of textiles and clothing have gone up by 8.21 percent to $9.3 billion in Apr-Nov 2005. The industry has...

DELHI, MUMBAI AIRPORTS REVAMP TO BEGIN MID-YEAR (the Government of India intends to modernise the Chennai airport through a joint venture).
February 28, 2006... (From India Business Insight) The Government of India is expected to start the modernisation and restructuring of the airports in Delhi and Mumbai by the middle of 2006. The Government intends to hand over the airports to two separate...

FERTILISER SUBSIDY TO EXCEED BUDGET ESTIMATES (total fertiliser subsidy is likely to exceed Rs24,000 crore in 2005-2006).
February 28, 2006... (From India Business Insight) The Government of India Economic Survey 2005-2006 expects the subsidy on fertiliser in 2005-2006 to exceed the budget estimates of Rs16,254 crore. Total fertiliser subsidy is likely to cross Rs24,000...

PHARMA INDUSTRY CLOCKS HEALTHY GROWTH (domestic sales have gone up to $4.5 billion in 2005-2006).
February 28, 2006... (From India Business Insight) The Government of India Economic Survey 2005-2006 has revealed that the pharmaceutical industry in India has registered a significant growth in 2005-2006. Domestic sales have gone up to $4.5 billion and...

PANTALOON RETAIL BID TO WOO WOMEN (the company has launched a credit card with ICICI Bank).
February 28, 2006... (From India Business Insight) Pantaloon Retail India Ltd has launched a co-branded card for women customers at Big Bazaar stores in association with ICICI Bank. The card charges no fee and carries a credit limit of Rs5,000 for a period of...

WIPRO BETS ON WELLNESS SEGMENT TO GROW FOODS BIZ (has acquired the Glucovita brand from HLL).
February 28, 2006... (From India Business Insight) Wipro Consumer Care and Lighting Ltd expects to announce a turnover of over Rs10 crore from its food business in 2005-2006. The company has introduced honey in lemon and ginger variants and intends to focus...

ISEC BAGS 50,000 TONNES PAK SUGAR TENDER (the industry expects to export at least five lakh tonnes of sugar in 2005-2006).
February 28, 2006... (From India Business Insight) The Indian Sugar Exim Corporation (ISEC) has won the tender floated by the Trade Corporation of Pakistan (TCP) to supply 50,000 tonnes of white sugar. TCP is expected to buy the sugar at $478 per tonne...