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Rains resume in Mumbai
Mumbai: Torrential monsoon rains have returned to the Indian city of Mumbai (Bombay) as it tries to recover from flooding that has left nearly 900 dead.

Police urged people to stay at home and meteorologists warned the downpours would continue, hampering relief work.

Much of the transport system has again ground to a halt and rescuers elsewhere in Maharashtra state are still finding bodies in landslides.

Officials say the final death toll could top 1,000. About half of those killed in Maharashtra have died in Mumbai - drowned, electrocuted or buried in landslides.

Mumbai's airport, closed for two days last week, again shut for a number of hours on Sunday before some flights could resume.

The spread of waterborne epidemics remains a major concern.
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Bangladesh makes soothing noises on Indo-Myanmar gas pipeline
Dhaka: The $2.5-billion Myanmar-India gas pipeline project via Bangladesh may come back on the rails with the Bangladesh government indicating that it is open to holding fresh negotiations on the three conditions set by it before it signed the tri-nation agreement for implementing the project.

According to Mahmudur Rahman, advisor to Bangladesh's energy and mineral division, "We are open to negotiations on the three issues and are not saying that all of these should be agreed to by India. But for anything substantive, negotiations must begin."

Rahman's comments assumes significance as it comes just a week before the visit of the Indian external affairs minister, Natwar Singh, to Dhaka from August 6 to hold bilateral talks on a host of important issues, including the pipeline project. The energy and trade corridor issue would also figure during these talks, Indian High Commission officials said.

The three conditions laid down by Dhaka include provision of transit facility through India to facilitate transmission of hydro-electricity from Nepal and Bhutan to Bangladesh, assured utilisation of the corridor for trading between Bangladesh and Nepal/ Bhutan through Indian territory and initiation of measures to reduce the $2 billion trade imbalance between Bangladesh and India.

The proposed pipeline via Bangladesh will transport gas from the Shwe (offshore gas source) to Arakan (Rakhine) State in Myanmar into the Indian states of Mizoram and Tripura before crossing Bangladesh to reach Kolkata.
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Jharkhand looking for consultant for its auto-component SEZ project
Kolkata: The Jharkhand government has kick-started the process to promote their automobile and auto-component Special Economic Zone (SEZ) project at Adityapur.

IL&FS Infrastructure Development Corporation, the advisor for the project, has invited bids for consultants to prepare a detailed project report. The consultant would carry out a detailed survey to assess the demand for the SEZ, informed sources close to the development told the media.

The last date for submitting bids by prospective consultants is August 18.

The newly proposed automotive and auto-components SEZ could hit West Bengal hard which was also trying to attract auto companies to invest in the state. Jharkhand has an edge over West Bengal with its easy supply of a critical component such as steel. The SEZ is also close to the industrial township of Jamshedpur.

The SEZ would be spread over 90 acres of land in the Ramchanderpur (52.96 acres), Shrirampur (17.57 acres) and Shikhadih (19.47 acres) areas.

Adityapur Industrial Area Development Authority (AIADA) is the implementing agency for the SEZ and has already acquired the entire land required for the project.

The Jharkhand government had already received Centre's nod last month for the product specific SEZ (auto and auto-component) at Adityapur located between Seraikela-kharsawan district.
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South Africa - A new frontier for Indian businesss
Chennai: A business delegation from the Southern India Chamber of Commerce and Industry on the week-long visit to South Africa early this month has found that a nearly identical business environment and huge demand for Indian products there offer tremendous opportunities for Indian entrepreneurs.

"There is a huge market for Indian products," says the report prepared by of its eight-member delegation.

The strong historical and cultural ties between India and South Africa could serve as an ideal platform for strengthening business relationship, according to R. Veeramani, the SICCI president and leader of the delegation.

South Africa, the economic powerhouse of the African Continent, by virtue of its membership of the 13-nation Southern African Development Community, can also serve as a springboard for Indian business to enter other African markets. Moreover, members of the SADC are committed to form a free trade area.

The report listed mines and minerals, building materials, cement, textiles, auto components, chemicals and pharmaceuticals, agro food processing and information technology and telecommunications as specific areas offering scope for Indian entrepreneurs.

Though South Africa is "very strong in mining," the processing and value addition needs to be strengthened. Indian technology and machinery are the most appropriate and cost competitive. Indian mining companies, the report says, can help in training/educating their workforce in areas relating to cutting and polishing.

In the field of textiles, South African textile units are affected by low cost imports from China. The Indian textile industry, particularly the garment sector, can forge links with emerging "black fashion houses that need support in the form of fabric and fashion accessories."

Auto components is another growth area for Indian exporters. "There is tremendous scope for ancillary units such as shock absorbers, carburettors, brake linings and tyres," the report says. In the chemicals and pharmaceuticals sector, Indian entrepreneurs can set up units there making use of the abundant power, water and other infrastructure facilities.

In agro products, the report recommends that Indian entrepreneurs can consider importing wine from South Africa, a major producer, and seek technology transfers. The food processing industry is another promising sector wherein India can take advantage of its expertise and establish good business relations. The opportunity for export and local manufacture of packaging products such as tetrapaks is very good.

Tourism is one of the fastest growing sectors in South Africa. Indian movie-makers can consider some of the attractive locations there. There is also scope for business in the animation industry.

As for taxation, South Africa has entered into a double taxation avoidance agreement with most of its trading partners, including India. A subsidiary is taxed at 30 per cent on profit derived on a worldwide basis while a branch of a foreign resident company is taxed at 35 per cent on its South African source of profit.

India-South Africa trade has witnessed consistent growth since 1994. Major Indian exports include rice, cotton accessories, cotton fabrics, drugs, pharmaceuticals, natural silk, manmade yarn, machinery and instruments, rubber products, gems and jewellery, spices, castor oil, tea, paper and wood products, ceramics and refractory. South African exports to India are diamonds, gold and silver, coal, coke and briquettes, inorganic chemicals, metal ores and manufactures, metal scrap, non-ferrous metal and crude minerals, precious and semi precious stones, sugar and fertilizers.
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