Wen says China-India FTA is 'logical'
Beijing: Chinese Premier Wen Jiabao has said that establishment of a Free Trade Area between China and India has become a "logical agenda" item and expressed the hope that the two sides will soon begin their feasibility study of FTA.

Wen said trade and economic relations between the two countries were growing rapidly with areas broadening and contents of cooperation deepening.

"In order to move bilateral trade and economic ties to a new level, the establishment of a Free Trade Area has become a logical agenda item.

"A broader and deeper relationship in the economy and trade between China and India not not only serves the two countries, but will accelerate the process of regional economic integration in Asia. I hope the two sides will soon begin their feasibility study of FTA," Wen said.

Two-way trade last year reached USD 13.6 billion, achieving the $10 billion target ahead of schedule.
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Germany to boost investment in Indian infrastructure
New Delhi: Germany is willing to step up investments in infrastructure, including energy, roads, airports and port sectors and also wants India to play an important role at the WTO.

German Economics and Labour Minister Wolfgang Clement and Finance Minister P Chidambaram have discussed a wide range of issues including the ongoing reforms in India and the need for stepping up investments, especially in infrastructure.

Although statistics do not show the extent of investments carried out by German companies through their subsidiaries, he said "it could improve. That's why we are here. We are talking to Finance and Commerce and Industry ministries."

"We want to be present more in the Indian market, especially in the small and medium scale sectors, and infrastructure," he said.

Clement, who is here with a team of CEOs of leading German companies, said India should play an "important role" in negotiations at WTO while liberalising its own trade regime further.

He will attend the 15th session of two-day Indo-German Joint Commission on Industrial and Economic Co-operation that began today. Chidambaram will lead the Indian delegation.
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Mumbai port in talks for Rs150 crore oil berth
Mumbai: Mumbai port is in talks with PSU oil companies for investing in its proposed Rs150-crore oil berth and a single buoy mooring (SBM) facility at the port.

The proposed oil berth, which will be the fifth berth at the Marine Oil Terminal, will have a capacity of 15 million tonnes, with a draft of 17 mts to accommodate Suezmax tankers.

In the last fiscal, upgradation of oil handling facilities at a cost of Rs564 crore was taken up. With this, the capacity of the port's Marine Oil Terminal has increased from 19 million tonnes to 30 million tonnes. "

The oil berth is one of the four major projects that the port is taking up, as part of its efforts to expand its cargo handling capacity to meet the future needs. While RFQs (request for qualification) have been received by 12 foreign and Indian terminal operators for the proposed Rs1,200-crore offshore container terminal project, the other two projects - the Rs75-crore chemical jetty and the Rs115-crore redevelopment of the harbour wall berths - are yet to be taken up.

Ms Jadhav pointed out that the port has drafted a 10-year plan to enhance capacity for all types of cargoes from the existing 32 million tonnes to 62 million tonnes with active private sector participation.

The port handled a throughput of 35.12 mt of traffic, its highest so far, to retain its position as the fifth biggest port in terms of throughput for the second year in the just-ended fiscal. Experiencing a steady fall in its cargo flow since 1997-98, the port has been able to reverse the trend in the last two years.
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I&B Ministry recommends revenue sharing model for FM radio
Mumbai: S. Jaipal Reddy, Union Minister for Information and Broadcasting, has said that the Ministry was in favour of a revenue sharing model for FM radio.

In his inaugural address at FICCI-Frames 2005, Reddy said the I&B Ministry had readied a policy package for private radio, currently being studied by other ministries. "It will shortly go to the Cabinet. We have devised the policy package with an emphasis on growth and not revenue," he said. The second phase is expected to spawn over 300 radio stations in the private sector.

Over the next three years, as many as 4,000 community radio stations are also hoped to go online.

While currently the Government acts as regulator for the broadcasting sector, Reddy said, "I believe there is the need for an independent regulator, one that is independent and quasi-judicial." According to him, a Bill in this regard would be tabled in the monsoon session of Parliament.

Doordarshan's DTH service, the only free-to-air service of that kind in the world, will add another 17 more channels to its bouquet before July taking it to a total of 50 channels. Referring to reports of the Government unlikely to provide budgetary allocation for the DTH service, he said that even as more private players would be allowed into DTH it "does not mean that the public broadcaster would abandon its duty to the middle class in the country."
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Zee to launch global news channel
Mumbai: The Zee Telefilms Chairman, Subhash Chandra, has announced plans for a global news channel on the lines of CNN and BBC, but with an Asian perspective.

"Zee has taken an initiative with a few Asian companies to launch a global news channel that will look at world events from an India-led Asian point of view," he said at the inaugural session. CNN, he said, has an American point of view and BBC represents an English view.

The channel is expected to be launched by the end of the year.
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