Govt. to finalise tsunami warning system
New Delhi: Almost a month after the December 26 tsunami struck the Indian shores, the government is now in the process of finalising its new warning system. The installation of the system will cost Rs125 crores and take about two and a half years.

"It is a darts system, which can be placed under the ocean," said Kapil Sibal, Minister, Science and Technology. The government, however, says it's open to more suggestions from experts around the world, who have gathered in the national capital to suggest models of averting such disasters.

"We think what is suitable for India is a mixture of computer and other seismic devices, which will give them an advance warning of about two hours," said Dr Tad Murty, President, Tsunami Society.
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Brazil forced to remove dumping duty on Indian jute bags
New Delhi: After fighting for seven years, the Jute Manufacturers Development Council (JMDC) has finally wrested victory with Brazil lifting the anti-dumping duty on products of five mills, while lowering the levy for other exporters.

According to a statement by the Textile Ministry here, the Brazilian Government has lifted the anti-dumping duty on import of jute bags into Brazil for five Indian jute companies- Birla, Cheviot, Howrah, Ganges and Gloster and lowered the duty for others from 38.9 per cent to 27.8 per cent or $0.22 per kg. Indian jute goods exporters were subjected to this anti-dumping duty for the past 12 years.

Recalling the case, it said Brazilian authorities imposed anti-dumping duty on import of jute bags from India and Bangladesh on September 30, 1992 for a period of five years. The anti-dumping levy was 24.8 per cent on bags made of jute yarn and 56 per cent on jute bags. Despite forwarding documents to establish that Indian jute goods were not exported to Brazil below its domestic normal value, the Brazilian authorities re-imposed the dumping levy in September 1996 at the rate of 38.9 per cent for all jute bags from India for another five years.

Later, on examination, it was disclosed that the Brazilian authorities had relied upon two forged invoices from a non-existent Indian company- DADJ Bag Manufacturing Co, which were designed to indicate a high value for domestic trading only to prove dumping. The matter was brought to the notice of Brazil, which initiated a criminal investigation in 1999, the result of which never came to light.

Meanwhile, two high-powered delegations visit to Brazil led by Secretary (Textiles) in 1999 and another by the then Textile Minister in 2000 did not yield any result. JMDC's two review petitions were also spurned in 1999 and 2000.

Finally, when the second review was set off by Brazil in 2003 for re-imposition/continuation of the duty for a further span of five years, JMDC contested it fiercely by drawing up legal services both in India and Brazil. It was eventually proved beyond doubt that the export prices of Indian jute companies were higher than their domestic prices and as such there was no need for the Indian companies to resort to dumping for exporting their goods into Brazil. The Brazilian authorities had no option but to withdraw the imposition against these five companies and reduce the overall dumping duty for other exporters of jute products from India, the statement said.
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India and Chilean business forums sign MoU for trade promotion
New Delhi: India and Chile have launched a joint business forum, which will work towards promoting trade and economic co-operation between the two countries. The Chile-India Business Forum will identify specific industries and services that will offer viable and sustainable competitive advantages for joint ventures between the two countries.

A memorandum of understanding to the effect was signed between Jorge Ortuzar Santa Maria, Corporative Manager, Sociedad De Fomento Fabril FG and Ms Indrani Kar, Senior Director, Confederation of Indian Industry (CII).

The forum will also identify new areas of co-operation between India and Chile, specially focused on building relationships in fields such as tourism, education, training and entrepreneurship development, according to a CII statement.

In his address, the Chilean Education Minister, Sergio Bitar, said India and Chile could co-operate in research activities and mentioned that some Indian companies had already established linkages with their Chilean counterparts. He proposed greater co-operation in areas such as education, technology and business. The minister also said Chile was an attractive springboard for companies looking to capture the Latin American market.
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EEPC opens up to CIS nations
Coimbatore: The Engineering Export Promotion Council (EEPC) has invited a delegation from the CIS region to participate in buyer-seller meets during March in India.

EEPC is also opening an India Engineering Centre (IEC) in Chicago in the US as part of efforts to expand the US market for Indian engineering goods and is also relocating the centre from Lagos to Johannesburg in South Africa in view of its strategic location in serving not only the African market but the Latin American market too.

The EEPC had some months back organised an India Tech exhibition in Almaty in Kazhakastan which elicited interest among the buyers there. As a follow up to that show, the Union Minister of State for Commerce and Industry E.V.K.S. Elangovan had led a 60-member delegation to Almaty that has returned only last week.

During the visit, an agreement for the establishment of a joint venture for the manufacture of batteries and UPS units in Kazhakastan at an investment of $1.5 million was signed. There were indications that further agreements for investment up to $10 million were possible. The second agreement was for construction machinery in Uzbekistan at a cost of $1 million and another for manufacture of machinery for food processing industry involving $2 million in the same country.

A CIS delegation will be visiting India to hold discussions with Indian companies in buyer-seller meets scheduled to be held during March 22-26 in Mumbai, Delhi and Chennai which would provide an opportunity for more number of Indian companies to interact with buyers from the CIS region.

Export of engineering goods has been witnessing an upswing and compared to 2003-04 exports figure of $10.8 billion, this year's target has been revised from $11.50 billion to $12.75 billion at the instance of Union Commerce Ministry. EEPC has estimated that by 2008-09, the engineering exports would touch $30 billion, recording a 25 per cent annual growth.

The pattern of exports also had undergone a tremendous change both in terms of `composition and direction.' The fact that the US and the EU are the major buyers of Indian engineering goods certified the quality and competitiveness of these products.

The EEPC is also opening an India Engineering Centre (IEC) in Chicago, USA. The warehousing facility would be outsourced and every quarter, a buyer-seller meet would be organised. Engineering exports to ASEAN region was around $1.2 billion, constituting around 10 per cent of the total engineering goods exports. EEPC is organising an India Tech in Jakarta in March and the seminar was part of efforts to encourage Coimbatore based companies to participate in the exhibition there.
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Gem and jewellery exports up 38 per cent
Mumbai: Exports of gem and jewellery grew by 37.88 per cent to $14,329.23 million for the January-December 2004 period as compared to $10,392.83 million in the year ago.

Exports of cut and polished diamonds were at $10,340.45 million, indicating a growth of 28.42 per cent as compared to $8,051.90 million in 2003. Jewellery exports grew by 78 per cent during 2004. Exports of coloured gemstones increased by three per cent. Rough diamond imports moved up by 10.87 per cent to $7,317 million the Gem and Jewellery Export Promotion Council said in a news release.
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