System may be set up to deal with unwanted calls
New Delhi: The Telecom Regulatory Authority of India (Trai) has issued a consultation paper inviting public comments on how crank calls and unwanted marketing phone calls should be dealt with in the country. The aim of the paper is to define what phone users consider unwanted calls and what penalties, such as a fine, should be installed to take care of violations. Trai has listed the international trends in dealing with the problem, which in countries like the US, are now found to be a major productivity-hampering occurrence.

The regulator is seeking opinions on whether a do-not-call registry will be enough to deal with the problem. It is not clear just to what extent telemarketing or other unwanted calls block the phone networks in India and reduce overall national productivity. But since the banks decided to set up their own do-not-call list, much of public has voiced it is in favour of a blanket ban on unasked-for calls from all sources, informative or not. Trai will also workout the amount of fine that should be levied in case of violations of a law that will be framed after this period.
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Foreign investment doubles in H1 to $4.4bn
New Delhi: Foreign direct investment (FDI) into India has nearly doubled to $4.4 billion in the April-September 2006 period.
Commerce and Industry Minister Kamal Nath expects the buoyancy in FDI in the first six months to continue in the second half of the year as well exceeding the target of $9-10 billion.
In September 2006, FDI inflows grew 225 per cent to $916 million as compared to $282 million in the same month last year.
The Chennai region, including Pondicherry, recorded the maximum growth of 211 per cent, attracting $437.3 million in FDI, largely due to greater activity in computer hardware and leather.

In absolute terms, Delhi region continues to remain on top of the table with $936.5 million FDI inflows, showing a growth of over 25 per cent. The Mumbai region was second on the chart with total inflows of $867.5 million.
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Legal obstacles come up against CVD on imported wines
New Delhi: The commerce ministry's efforts to impose additional duty by states in lieu of the Centre withdrawing the countervailing duty (CVD) on imported wines and spirits has hit a legal obstacle as the Union law ministry has said states do not have powers under the Constitution to impose an additional levy on imports to countervail the excise duty which could be imposed if the products were manufactured domestically.

It has made it clear that the Centre will have to seek a constitutional amendment in order to allow states to levy such additional duty. The commerce ministry had sought legal opinion ahead of persuading the finance ministry and states to amend the taxation regime for imported wines and spirits.

New Delhi is under pressure to do so since the European Union has begun the process to take India to the World Trade Organisation on the matter.

At present, the Centre imposes a countervailing duty on imported liquor to neutralise the excise duty on domestic liquor. The CVD is an average of the various levels of excise duties imposed by different states.

Over and above the CVD, states impose excise duty on their local liquor and countervailing duty on liquor manufactured by other states. The finance ministry had agreed to withdraw the CVD in lieu of states imposing an additional levy.
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Ban on sugar exports may go
Melbourne: India might lift a ban on its exports as the country is likely to witness a record production of sugar this year. India banned sugar exports in July this year to hike domestic supplies and check rising prices.

Agaain early this month, the government deferred a decision to lift the ban. As per the estimates of Agriculture Ministry, output may reach 227 lakh tonnes in the year ending September 30, 2007, and it was possible to permit exports of 20-25 lakh tonnes of sugar.
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US set to increase agri products exports to India
New Delhi: Agri and food product exports to India from the US will get a leg up as Washington has allocated more funds for their agri-trade bodies which have presence in this country.

The visit of US agriculture secretary Mike Johanns to India currently is also expected to give a fillip to these efforts.

The US government last week announced a $200 million budget for promoting its agricultural products exports in 20 06 (US fiscal year).

The US would be funding 67 trade organisations through which it has targeted to increase the country's agricultural exports to $68 billion in 2006 against $62.5 billion in the previous year, a USDA report said.
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