CII expands global presence
New Delhi: The Confederation of Indian Industry (CII) is expanding its presence abroad and has reopened its office in Japan, and plans to set up regional offices in South Africa, Italy and Brazil by next year.

A large number of Indian corporate houses, like the Tatas owned VSNL, have established a strong presence in countries like South Africa and Brazil and also the fact that India has been working towards strengthening its business and political ties with South Africa, Brazil and Italy. In September, Prime Minister Manmohan Singh led a business delegation from India to both Brazil and South Africa.

A trade delegation from Italy would be coming to India in mid-February and around 300-400 companies will be part of the business delegation headed by Italian Prime Minister Romano Prodi.
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Govt may allow FDI in sector-specific retail trade, mineral prospecting
New Delhi: The Government is considering allowing FDI in sector-specific retail trade in areas like sports goods, stationery, construction material and electronics in a way that will not affect small and neighbourhood shop owners. The Commerce Ministry is currently preparing a Cabinet note featuring details of the modalities and the percentage of foreign equity that could be permissible in sector-specific retail trading which is likely to be sent for Cabinet consideration next month, informed sources said.

As in the case of single brand retail, all FDI proposals for sector-specific retail too would need the approval from the Foreign Investment Promotion Board (FIPB) and would be taken up on a case-by-case basis, sources indicated.

The Minister also said that the Government wants to encourage foreign investment in back-end of retail activities such as logistics management, cold chain and technology so that it even helps the traditional domestic retailers.

The Government may also allow foreign direct investments in the mineral prospecting sector.

The Union Commerce and Industry Minister, Kamal Nath said the country has lots of reserves in coal, iron ore and manganese. For mineral prospecting, huge investments and best technology is required and there was no question of an FDI limit or a cap. He said the sector needs to be opened in up in a broad way so that desired investments and technology are obtained.

The Government already allows 100 per cent FDI in mineral exploration and mining under the automatic route.
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