'SEZ should be avenues to growth'
The chairman of the National Manufacturing Competitiveness Council (NMCC), V. Krishnamurthy, said, "There should be adequate 'safeguards' incorporated with regard to Special Economic Zones (SEZ) to ensure they promote manufacturing activity and are avenues for incremental growth and are not being developed for other purposes," he said. He further emphasised that SEZs should not end up encouraging `industrial relocation'.

He also expressed satisfaction over the country experiencing a 11.8 per cent manufacturing growth during the first five months of the current fiscal.

Krishnamurthy, who chaired the first meeting of the Empowered sub-committee of the High Level Committee for Manufacturing, said India could emerge as a global player in the manufacture of high-value advanced technology products (ATP).

He said a recent report had shown that the US imported $240 billion worth of ATPs in 2004, of which China and the East Asian nations supply 59 per cent, while India did not figure in the list. The NMCC has decided to constitute an expert group to evolve a strategy he said.
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India, China dominate global carbon market
Beijing: According to the World Bank the global carbon market grew to around $22 billion in the first nine months of this year, doubling in value over the previous year and China and India led the clean development mechanism (CDM) market.

Officials said till September, Asian countries accounted for 84 per cent of total volumes in the CDM market. China continues to dominate the project-based market with 60 pc of the volume of projects transacted, down from 73 pc in 2005 with India next with a 15 pc share of the market volume, up from 3 pc in 2005.

Asia accounted for 40 pc of the number of transactions so far in 2006 compared with 30 pc, last year. Of this, China accounted for 24 pc and India at 15 pc compared with 12 pc and 11 pc respectively last year.

The average size of transactions ranged from 3.9 million tonne of carbon dioxide equivalent in China and 1.6 million tonne of carbon dioxide equivalent in India.
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Spain to explore biz avenues in India
Bangalore: A trade and business delegation from Barcelona is arriving here on a three-day visit on October 28 to explore mutual investment and business opportunities between Spain and India. The delegation consisting of representatives from the Chambers of Commerce and Industry and the City Council of Barcelona will also participate in a one-day networking session with their Indian counterparts on Saturday. The delegation will also participate in the Bangalore IT.in.
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Nymex crude rules steady around $60/bl
Mumbai: The Nymex crude for November delivery was steady around $60.54 per barrel in US trades yesterday. The contract moved between a high of $60.59 and a low of $60.20 yesterday.

Brent Crude gained 28 cents to close at $61.05 per barrel.
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