Manmohan-Musharraf meet a positive one
New York: Prime Minister Manmohan Singh and Pakistan President Pervez Musharraf had their first one-on-one meeting over breakfast in New York, with Musharraf presenting Singh with mementoes of his school days and of his village in Pakistan, including an old report card.

Singh termed the meeting as historic. After the talks, both the nations issued a joint press statement. The Pakistani President, with Singh standing by his side, read it out.

Interestingly the statement had no reference to terrorism, an issue that New Delhi has always raised with Islamabad. On the issue of Jammu and Kashmir, the two sides agreed that all possible options for a peaceful negotiated settlement will be explored in a purposeful manner.

The possibility of a gas pipeline via Pakistan to India was also discussed at the meeting and it was felt that such a project could contribute to the welfare and prosperity of the people of both the countries. It should be considered in the larger context of expanding trade and economic relations between the two countries.
Back to News Review index page  

Inflation rises marginally
New Delhi: After falling substantially in the previous week, inflation has increased marginally by 0.06 per cent to 7.87 per cent for the week ended September 11 mainly due to costlier manufactured products including some edible oils.

The Wholesale Price Index (WPI) inflation climbed from 7.81 per cent in the previous week and it was 4.59 per cent in the year ago period.
Back to News Review index page  

AI issues tenders for dry-lease of aircraft
New Delhi: Air India has issued tenders to dry-lease two to four Boeing 747-400 combi aircraft for its own long-haul operations and another eleven Boeing 737-800s for its new subsidiary, Air India Charters Limited (AICL).

While the large 747-400 combis would be taken on dry-lease for a period of three years, the 737-800s would be inducted by AICL for five years, the tender documents said.

The last date of submission of technical and financial bids for both type of planes is October 12.

The B747-400 combis are likely to have a capacity of between 220 and 300 seats in a three-class configuration - that is the economy, business and executive classes.

The AICL would lease the B737-800s, with a capacity of about 100 seats in a two-class configuration, to operate primarily on Southeast and West Asian routes.

Air India has already indicated that it wanted to induct the larger aircraft by March next year. The AICL also wants to induct at least three B737-800s in the same period.
Back to News Review index page  

DRDO to start new relationship with private industry
Hyderabad: The Defence Research and Development Organisation (DRDO), a network of about 50 national research institutes, will take proactive steps to involve Indian industry in joint development projects, as a stakeholder.

According to the newly appointed Chief of DRDO and the Scientific Adviser to the Defence Minister, Dr M. Natarajan, he would meet the industry magnets to initiate concrete steps in this direction. He said that the ideal model for indigenous technology development projects would be the consortium of DRDO labs, Indian industry and the user (defence or other sectors), in an equity-based mode.

Natarajan said that the idea is to avoid repeat tasks, cut gestation, time-overruns and develop technology and products that are relevant. Dr Natarajan, took over the reins of the DRDO on September 1, from Dr V.K. Aatre.

The domestic private sector should work with the DRDO laboratories to leverage the technology strengths that have been built over the last half-a-century. To this end, Dr Natarajan said, "We are willing to offer technologies (except those restricted) developed in the DRDO labs virtually gratis, with the exception of documentation costs to the willing Indian industry."

He felt that in the areas of critical technologies and large systems integration the DRDO laboratories have to substantially assist the Indian industry, the small and medium enterprises (SMEs) as well as the large public sector undertakings. This would help in hastening the systems development and technology absorption in industry.

On the issue of manpower, Dr Natarajan said the initiative to recruit about 1,500 bright engineers and scientists in five years started by his predecessor, was attracting good numbers. Already about 750 people have been recruited and the rest would be taken during the next two years, he added.
Back to News Review index page  

Pakistan textile exporters keen to forge closer
New Delhi: Pakistan's business community is keen to forge closer ties with India in the field of textiles, especially in the context of the phase-out of textile quotas under the multi-fibre arrangement (MFA) with effect from January 1.

This was conveyed to the Union Commerce Minister, Kamal Nath, by the visiting high-level business delegation from the Pakistan Textile Exporters' Association.

The delegation said that Pakistan was not a competitor to India in the field of textiles as it was concentrating mainly on home furnishing whereas India had a more diverse range of product coverage, particularly readymade garments.

The members of the delegation sought the Minister's help in creating a hassle-free environment through Customs facilitation measures to promote free movement of goods on the border and also for tariff concessions under the South Asian Free Trade Agreement for textile items from Pakistan.

The delegation also said that Pakistan would, in turn, be keen to import textile machinery, dyes and chemicals from India, which it was currently sourcing from elsewhere.

During 2003-04, the country's exports to Pakistan stood at Rs1,051. 43 crore, against Rs997.93 crore in the previous year. Pakistan's exports to India during 2003-04 stood at Rs265.32 crore, against exports worth Rs217.05 crore in 2002-03.
Back to News Review index page