Minor decline in business confidence 2nd half 2006: Mastercard survey
Mumbai: The MasterIndex of Consumer Confidence at 65.1 points for India for the second half of 2006 shows a decline of 11.3 points when compared with the 76.4 points scored in the first half of 2006, the highest ever since Mastercard started the bi-annual survey in 2004.

The study covered 600 respondents in Mumbai, Delhi and Bangalore between the ages of 18 and 64.

The index tracks consumer sentiment for the next six months on parameters like employment, stock market, economy, regular income and quality of life.

While the index fell on all the individual parameters, the drop was the sharpest in the expected quality of life, which fell from 77.4 to 59.8 points.
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Special package for semiconductor sector
New Delhi: In a move to attract investments from the semiconductor industry, the Union Cabinet on Thursday has given an in-principle approval to a special incentive package scheme for setting up semiconductor fabrication and other micro and nano technology manufacture industries in India.

The move will benefit companies like SemIndia, AMD, Intel and Taiwan-based semiconductor companies who have plans to set up base in India. The special incentives will be available to companies till March 2010.

The threshold limit, incentive package and subsidy will be worked out later by the prime minister's office and the cabinet secretary. The finance minister had announced the government's intention to come out with a semiconductor policy in Budget 2006.
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Sugar export ban lifted
New Delhi: The Centre has lifted with "immediate effect" the ban on export of sugar from the country sans any quantity ceiling.

The ministry of consumer affairs, food and public distribution had earlier proposed to free up exports up to a ceiling of one million tonnes.

But now, it has been decided to fully lift the ban though exporters are required to obtain a `release order' (to move sugar from their godowns) from the sugar directorate against confirmed export deals.
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Asean trade deal seen in offing
New Delhi: The proposed Foreign Trade Agreement (FTA) between India and Asean seems likely to happen as the trade ministers of Asean countries have agreed to India's proposal for reducing the negative list to 490 items, with trade coverage not exceeding 5 per cent by both sides.

According to a commerce ministry statement, trade ministers of Malaysia, The Philippines, Cambodia, Brunei, Lao, Indonesia, Myanmar, Singapore, Thailand and Vietnam have approved the Indian proposal at a meeting at Cebu, The Philippines, which was attended by commerce minister Kamal Nath.

However, the FTA is unlikely to materialise before July this year. The Asean summit is scheduled to be held on January 14-15, with talks expected to focus on trade and economic cooperation.

Trade ministers at the ongoing Asean meet, which began on January 10, have agreed to continue the negotiations and address outstanding issues tentatively by July this year.

The FTA was supposed to become functional in January 2007 but has got stuck on issues like tariff reduction and elimination.
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