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'Made
in India' trade show to launch in China today
Shanghai:
Indian industry is all set to showcase it's manufacturing
and technological prowess, as well as its expertise in
the services sector, at the third 'Made in India' (MII)
show which opens here on Monday. Shanghai is the country's
financial hub.
The
third MII, first to be held in the eastern metropolis,
will be jointly inaugurated by Finance Minister P Chidambaram
and the Vice Mayor of Shanghai, Yang Xiaodu.
Organised
by the Confederation of Indian Industry (CII) for third
consecutive year in China, the earlier two MII shows were
held at Beijing in 2003 and 2004, the show will feature
leading Indian companies who are keen to expand business
opportunities in China.
According
to CII, services and knowledge trade between India and
China has significant potential for growth in areas like
Biotechnology, IT and ITeS, Health, Education, Tourism,
Financial Sector. However, there is also an urgent need
to shift the focus from primary exports to the export
of high value added products, to exponentially enhance
the trade volume.
The
show will also witness the participation of a spectrum
of the Indian industry with participation from the Indian
corporate giants such as ITC, TATA, ACC, Mahindra and
Mahindra and Sundaram Fasteners. The small and medium
enterprises representing auto components, food processing,
gems and jewellery, pharma, bio-technology would also
be present.
In
the services sector, the exhibition will see the presence
of the Banking sector with participation from the three
leading nationalised banks - State Bank of India, Punjab
National Bank and the Canara Bank.
Another
highlight would be the tourism pavilion show with participation
from the Ministry of Tourism, and the State Tourism Corporations
from Goa, Bihar, Jammu & Kashmir, Himachal Pradesh
as well as a few travel agents.
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Rs.1,000
crore convention centre for Mumbai
Mumbai: Mumbai will soon have its first full-fledged
convention centre of international standards, at a cost
of Rs1,000 crore. The centre will be able to accommodate
over 2,000 people.
Initial
work will commence by the end of the year after issuance
of global tenders.
According
to R.M. Premkumar, Chief Secretary, Maharashtra the convention
centre will be located at the Bandra-Kurla complex and
the preliminary groundwork for setting up the centre has
already been completed.
The
Mumbai Metropolitan Region Development Authority (MMRDA)
would be one of the implementing authorities. Land cost
for the project is Rs480 crore while construction cost
will be Rs520 crore. The project would be a joint venture
between the MMRDA and a private player.
The
convention centre would primarily consist of auditoriums
conference halls, food and beverage facilities, shops,
offices and support infrastructure areas needed for such
centres. The location of convention centre offers connectivity
with road, rail, and air network.
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BSNL,
Sri Lanka Telecom sign up for submarine cable project
New Delhi: Bharat Sanchar Nigam Ltd (BSNL), Sri
Lanka Telecom and NEC have signed an agreement to lay
a submarine cable between India and Sri Lanka, at an estimated
cost of Rs80 crore.
"The
cable under the project will be optical fibre cable and
will have a capacity of 20 Gbps initially. The proposed
cable will carry data as well as video communication,"
a BSNL release said here.
The
cable would be laid between Tuticorin (India) and Mt Lavinia
(Sri Lanka) and the cable distance would be about 325
km.
The
project, expected to be completed in eight months, would
benefit both the sides, as it would carry telecom traffic
not only between the two countries, but also from other
countries.
"Apart
from this, BSNL will have its long awaited submarine cable
landing station," it said.
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Edible
oils prices fall
New
Delhi: Edible oils showed a downward trend in the
wholesale oils and oilseeds market during the week under
review owing to increased offerings by stockists on slack
demand from millers and retailers.
However,
non-edible oils were stronger on the back of increased
off-take by stockists following an upswing in demand from
paint and other consuming industries.
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Gold
down from previous highs
New
Delhi: Gold prices fell in the bullion market on Saturday
on reduced off take by stockists, while silver surged
on industrial units and coins manufacturer's buying.
Market
men said that buying by stockists and retail customers
was negligible as most of them avoid their purchases at
existing higher levels.
Standard
gold and ornaments lost Rs 10 each at Rs 6920 and Rs 6770
per ten gram respectively. Sovereign was unchanged at
Rs 5550 per piece of eight gram.
Silver
ready shot up by Rs 50 at Rs 11,600 per kilo and weekly-based
delivery by Rs 65 at Rs 11,570 per kilo. Silver coins
continued to be asked at previous levels of Rs 17,000
for buying and Rs 17,200.
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