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Unified telecom policy on the cards
New Delhi: Union minister for Telecommunications and Information Technology Dayanidhi Maran has said that the telecom department was giving finishing touches to the National Telecom Policy 2005.

The policy could also lead to truly unified licences, treating the entire country as a single market, ending the present segmentation of the national markets into different circles. For the subscriber this may also result in a single unified rate for telecom services with distinctions such as STD and local calls disappearing.

"Soon there would be no distinction between STD and local calls. There would be uniform rates and a 'OneIndia' approach," Maran told a press conference in New Delhi. He also said the new telecom policy would provide for wireless technologies like WiMax and more liberal voice over IP.

Treating the entire country as a single market for telecom services would mean reworking the present licensing regime, in which long distance licence holders have exclusive rights to carry calls across state boundaries.

Maran also said DoT was holding discussions with stakeholders, both CDMA and GSM players, on the matter of spectrum and 3G services. Maran told reporters that once there was clarity, the spectrum policy would be taken to the Cabinet.

He also said DoT would issue guidelines on the increase in the foreign direct investment limit to 74 per cent from 49 per cent next week. The proposal would be sent to the Prime Minister's Office, he added.
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Exports up 22 per cent in May
New Delhi: According to provisional trade figures put out by the Directorate General of Commercial Intelligence and Statistics and released by the Department of Commerce here the country's exports have notched up a growth of 22.28 per cent during May at $7,221.36 million against $5,905.61 million in the corresponding month in 2004.

Exports during the first two months of the current fiscal were valued at $13,789.35 million, which is 19.81 per cent higher than $11,509.57 million during April-May 2004.

In rupee terms, the exports during May were Rs31,404.91 crore, a rise of 17.52 per cent, while the cumulative exports during the first two months of the current fiscal were estimated at Rs60,134.09 crore, a rise of 17.12 per cent.

Imports during April-May were valued at $21,002.82 million, representing an increase of 40.91 per cent over the level of imports valued at in April-May 2004. Imports during May alone were valued at $10,843.18 million ($8,004.85 million), an increase of 35.46 per cent. Oil imports during April-May were 35.84 per cent higher at $6,09,107 million ($4,484.13 million).

Non-oil imports during April-May are estimated at 4,14,911.75 million ($10,420.87 million), a rise of 43.10 per cent.

The trade deficit during the first two months of the current fiscal, as a result of higher imports than exports, shot up to $7,213.47 million ($3,395.43 million).
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India Inc. upbeat on hiring prospects in Q3, says global survey
New Delhi: Indian employers are upbeat about hiring prospects in their companies during the third quarter of 2005, according to a global survey on employment patterns by businesses in 23 countries by global staffing firm Manpower Inc.

The Manpower Employment Outlook Survey, which has included India for the first time, showed that as many as 41 per cent of the 2,488 employers surveyed across seven sectors in the country were planning to hire more people during July-September 2005.

India's overall Net Employment Outlook, therefore, stood at 34 per cent, much ahead of China (13 per cent), the US (25 per cent), the UK (12 per cent) and Japan (14 per cent).

Most European nations including Germany, France, Austria, Belgium and the Netherlands were also comparatively less optimistic about hiring intentions though the expectations improved compared to the previous quarter.

The survey covered seven sectors: finance, insurance and real estate, manufacturing, mining and construction, public administration and education, services including IT and ITES, transport and utilities, wholesale and retail trade.

In India, the survey was conducted across 24 cities during April. According to the survey, services and finance sectors anticipate a booming third quarter with net employment outlook at 44 per cent and 41 per cent respectively.

The survey for India addresses the requirements of Indian companies and economic stakeholders giving reliable, forward looking data on both the national and international labour markets.

Globally, 45,000 public and private employers were interviewed to measure the anticipated employment trends.
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Hyundai Mobis among 19 FDI proposals cleared
New Delhi: The Finance Minister, P. Chidambaram, has approved 19 foreign direct investment proposals recommended by the Foreign Investment Promotion Board in its meeting on May 27.

An official release said the approvals amounted to Rs444.8 crore and pertained to sectors such as health, heavy industry, information and broadcasting, urban development and insurance.

The major proposals include an investment of about Rs220 crore by NRIs/PIOs in the venture capital fund of New-Delhi based Solitaire Capital India. An investment inflow of Rs82.5 crore in Shriram Life Insurance Company Ltd also received the nod. The foreign company in this proposal is Sanlam Life Insurance Ltd of South Africa.

The proposal of New Vernon Bharat Ltd (based in Mauritius) for investment of Rs30 crore in Jagran TV Private Ltd, Kanpur, was cleared.

The Finance Minister cleared South Korean auto-parts maker Hyundai Mobis' plan for an investment inflow of Rs59.7 crore.
An investment inflow of Rs27 crore relating to Chennai-based Biogenomics Ltd was also approved, to make drugs using recombinant DNA technology.
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