Software exports increase 28%
New Delhi: Export of computer software and information technology-enabled services from India has increased by 28.79 per cent during 2001-02.

Total exports from these segments stood at $9 billion during 2001-02 compared to $7 billion during the previous fiscal, according to provisional figures compiled by the Electronics and Computer Software Export Promotion Council.

While the growth during 2001-02 is much lower than the spiralling growth witnessed during the boom period, the industry feels it has not slipped too much due to the impact of dotcom debacles and global slowdown.

In rupee terms, the growth was higher at 37 per cent. Combined exports of software and IT-enabled services touched Rs 44,300 crore during 2001-02 against Rs 32,288 the previous fiscal.
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Sebi to alter listing norms
Mumbai: The Securities and Exchange Board of India (Sebi) is to amend the continuous listing norms so as to level the playing field for all companies.

The existing arrangement is biased against companies that went public at a time when the public shareholding norms were liberal, going up to 60 per cent. In recent times, the norm has been brought down to a mere 10 per cent. The continuous listing agreement seeks to ensure that a minimum level of floating stock is available to the investing public at all times post-listing.
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India, Singapore sign on telecom
Singapore: India and Singapore have signed two memoranda of understanding for cooperation in the telecom and culture sectors. The two countries also agreed to set up a joint study group to explore areas of long-term cooperation especially in trade promotion.

The MoU will allow the establishment of mutual cooperation between the enterprises and economic entities of the two countries in the field of telecommunications.
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Cell industry grows 80% in a year
New Delhi: The month-on-month addition of cellular subscribers has been the highest in March this year. There have been 3.8 lakh new subscribers, beating the previous record of 3.1 lakh for February.

The total cellular subscriber base in the country is now 6,430,814, compared to 3,577,095 in March 2001.

According to the Cellular Operators Association of India (COAI), the increase this month is probably because the companies have taken special initiatives.

The reduction in the pre-paid card tariffs and roaming charges may also have contributed to the growth.

The all-India subscriber figure of 6,430,814 represents an increase of about 80 per cent in 2001-02 over the previous year. The increase during the calendar year 2001 over 2000 has been 75 per cent.
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A-I not to be divested soon: Shourie
Singapore: There is no immediate move to divest Air-India. Instead, mega investments will be made into Air-India and Indian Airlines to make them more competitive and stronger.

"We don't wish to review the proposal for disinvestments in Air India for the next few months. We will make mega investments in Air-India and Indian Airlines to ensure they become more competitive and stronger," disinvestment minister Arun Shourie told reporters here.

Asked about the bid by Singapore Airlines to acquire 26 per cent stake in Air India, Shourie regretted that the deal did not come through saying it was "a great missed opportunity for India."
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UTI to be made Sebi compliant
New Delhi: The government will bring in legislative changes in the UTI Act to make India's largest mutual fund a Sebi-compliant entity by 31 December 2002.

UTI Chairman M Damodaran had a detailed discussion with the economic affairs secretary C M Vasudev on the statutory changes for reforming and restructuring UTI.

According to Sebi norms, a mutual fund must have three-tier structure comprising a sponsor, trustee and Asset Management Company (AMC).

UTI would be converted into an AMC.
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India, Brazil sign pact for ethanol blending
New Delhi: India and Brazil have signed an agreement for technology sharing in blending of ethanol with petrol and diesel.

The agreement provides for sharing of technology/consultancy on optimal blending ratios for best performance, engine and fuel system modifications, comparability of fuel system components, development of stabilisers for use in ethanol diesel blend and infrastructure and laboratory tests required.

Unlike Brazil, where 70-80 per cent vehicles run on petrol, two-third of vehicle in India is run on diesel.

India had started 5 per cent blending of ethanol with petrol in phases, beginning with eight sugarcane growing states in the first phase. In the second phase, blended petrol would be made available throughout the country.
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