document.writeln("

PM: India to further strengthen strategic ties with France
New Delhi: Prime Minister, Dr Manmohan Singh, has affirmed India's intention to further strengthen its relations with France. Dr Singh said: "It is our intention to further expand co-operation in the fields of trade and investment, Defence, space, civilian nuclear energy, advanced science and technology, as well as cultural and civilisational ties."

The Prime Minister is on a weeklong visit to Paris and New York from September 11-17.

In his departure statement, Dr Singh said that during his meeting with the French President, Jacques Chirac, he would convey the commitment of the Indian Government to further strengthening the privileged relations of strategic partnership that exist between Indian and France.

Discussions on a wide-range of issues will take place with Chirac, the Prime Minister, Dominique Villepin, and other leaders on Monday. Dr Singh also said that he would meet CEOs of major French companies in Paris and speak to them on expanding opportunities for trade and investment in India.

On his visit to New York, the Prime Minister said, various aspects relating to UN reform would be on the agenda, including expansion of the UN Security Council, for which India will continue to present its case.

Dr Singh is to participate in the high-level segment of events being organised by the UN to mark the 60th anniversary of its founding day. On September 14, he will address the UN General Assembly. This meeting will also review the implementation of Millennium Development Goals (MDG) that were adopted a decade ago.

The Prime Minister said that he looked forward to a number of bilateral meetings with the world leaders present in New York. These will include the US President, George W. Bush, the Russian President, Vladimir Putin, the Chinese President, Hu Jiantao, the Pakistani President, General Pervez Musharraf, and others during his stay.

He would also be attending a meeting of prominent NAM countries, called by Malaysia, as also a summit meeting of the India-Brazil-South Africa forum - IBSA.
Back to News Review index page  

With SAFTA looming closer SAARC talks enter crucial phase
New Delhi: With the deadline for the launch of the South Asian Free Trade Agreement just three and a half months away, the seven members of the South Asian Association for Regional Cooperation (SAARC) have drawn up a busy schedule to resolve the four outstanding issues pertaining to SAFTA.

SAFTA envisages a phased tariff liberalisation programme beginning from January 1, 2006. In two years, non-least developed countries (India, Pakistan and Sri Lanka) would bring down tariffs to 20 per cent, while LDCs (Bangladesh, Bhutan, Maldives and Nepal) would bring them down to 30 per cent. Subsequently, non-LDCs will bring down tariffs from 20 per cent to 0-5 per cent in five years, while LDCs will do so in three years.

With the deadline drawing ever closer, the final phase of negotiations on four contentious issues have begun. These relate to rules of origin, sensitive list, mechanism for compensation of revenue loss for the least developed countries and technical assistance to LDCs for finalising the same in order to ensure the smooth implementation of SAFTA on the stipulated date.
Back to News Review index page  

Govt. report: 39 out of 44 power projects on track
New Delhi: According to a report by the Ministry of Statistics and Programme Implementation, of the 44 power projects currently under implementation, 39 are slated to come up by the first year of the 11th Plan period. The report said that five projects are facing constraints in timely commissioning.

Of the projects on schedule, 31 are slated for commissioning during the 10th Plan period and eight in the first year of the 11th Plan period. Projects costing over Rs100 crore have been included in the report.

Power Grid Corporation of India Ltd (PGCIL) is executing the largest number of projects, totalling 24, followed by NTPC (nine) and NHPC (eight), an official release said.

The projects facing constraints include those in hydro generation, which are facing roadblocks due to slow pace of civil works and poor performance of contractors. Some of the transmission projects have also been delayed as they are linked to generation projects that have got stuck.
Back to News Review index page  

FICCI survey: 18 service sectors to achieve 20-60 pc growth in current fiscal
New Delhi: As many as 18 service sector segments of the economy are projected to clock growth of 20-60 per cent in 2005-06 over the previous year, while 17 segments are poised to achieve growth of 10-20 per cent, and five sectors are slated to achieve growth rate of up to 10 per cent, according to a survey on the service sector carried out by the FICCI.

The sectors that are projected to grow by 20-60 per cent include telecom, mobile, and Internet subscribers, tourism and hotels, live entertainment, and Internet advertising.

The sectors that are projected to grow by 10-20 per cent include education services, television broadcasting, car finance, general insurance, courier services, and radio broadcasting.

The sectors that are projected to grow up to 10 per cent are retail trade, railway passenger traffic, construction, and music industry, among others. However, the chamber has said that these sectors face some concerns that need to be addressed, like lack of adequate infrastructure, higher incidence of taxation and duties, and high and different rates of stamp duty.
Back to News Review index page