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Rs 700 metro flight, courtesy Air Deccan
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Products patents Bill soon: Nath
Don’t misuse PSUs, warns PM
Dalmia eyes Baddi to set up unit
PHDCCI urges Punjab to identify SEZs
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SIC Bank slaps notice on Somaiya
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Japanese minister unhappy with inter-state trade barriers
New Delhi, August 13 “India is not currently a single economic space. Every step forward towards that goal will make India that much more attractive as an investment candidate,” Ms Kawaguchi said while speaking at an interaction session organised by Ficci. She said Japanese companies have often complained that red-tapism in India was a major hindrance in attracting foreign capital. Consequently, bilateral trade between India and Japan had failed to rise due to misconceptions about each other as well as slow growth of Japanese economy over the past few years. Japanese companies have often complained, she said, that while shipping of goods from Japan to India took just two hours by air but takes up to 150 days to transport goods across state borders in India. Referring to complicated permit and licencing procedures, Ms Kawaguchi said it was not the best strategy to keep investors waiting. She disclosed that Japan was already impressed by India’s success in software and other sectors. However, perception about India is changing in Japan. “The news that Japan’s Shinsei Bank installed a computing system developed here in India by the company i-flex Solutions, was highly publicised recently as having been developed at one-tenth the cost and in-one third the time it would normally take for a new system for a bank,” she stated emphatically. The Foreign Minister of Japan disclosed that she and her Indian counterpart, Mr Natwar Singh, have agreed to cooperate on the reforms for the UN, including offering mutual support for each other’s candidature for the permanent membership of the Security Council. Further, she said, both countries have agreed to set up a joint study group to investigate “measures to strengthen relations.” Appreciating the initiatives of the UPA government, the Foreign Minister of Japan said: “Japan is watching with keen interest the economic policies of the new Indian government to see how it will balance the need of poverty alleviation with economic growth. That is forthcoming as a result of improved infrastructure, reforms in labour and tax laws and the promotion of privatisation.” |
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Rs 700 metro flight, courtesy Air Deccan
New Delhi, August 13 Air Deccan, the no-frills airline started in south India, will now be flying to New Delhi also, with it having secured parking slots at the Indira Gandhi International (IGI) Airport. It will launch two daily flights connecting Delhi from August 26. However there is a catch in this. Not only would the passengers seeking this fare, have to book tickets at least 90 days in advance, but just about 45 seats on every flight will be available at prices starting Rs 500 per seat to Rs 3,000. Incidentally, Air Deccan will launch its inaugural flight on metro routes on August 25 and all tickets will be priced at Rs 500 plus Rs 200 as passenger service fee (PSF) for that day. Bookings will be through the Internet (airdeccan.net) or through the company’s call centre. As per the new concept called dynamic pricing yield management, the next range will be for 90 seats costing between Rs 3,000 and Rs 5,000 and the third range of 45 seats will be available between Rs 5,000 to Rs 7,000 (prices Delhi-Bangalore sector). Those who purchase tickets will automatically fall into the next bucket in this transparent system. The Bangalore-Delhi flight will depart at 5.50 am, Delhi-Mumbai at 8.55 am, Mumbai-Bangalore at 11.30 am, Bangalore-Mumbai at 1.45 pm, Mumbai-Delhi at 4 pm and Delhi-Bangalore at 6.30 pm. As domestic airlines struggle with soaring fuel bills and falling yields per passenger, Air Deccan plans to expand its network across the country and compete head-on with big players like Indian Airlines, Jet Airways and Air Sahara on main routes. A Delhi-Bangalore ticket on these airlines costs over Rs 10,000. On Air Deccan, it will be for around Rs 7,000. |
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Products patents Bill soon: Nath
New Delhi, August 13 “I will take it to the Cabinet in the next 20 days and to Parliament after that. I am aware of the January deadline,” Commerce and Industry Minister Kamal Nath said while speaking at a meeting organised by the Indo-American Chamber of Commerce (IACC) here today. Meanwhile, experts have said that the introduction of the product patent regime in India by 2005 as mandated by the WTO need not be averse to the cause of public health and viability of the Indian pharma industry as is perceived. Academic experts, industry players and policy professionals participating at a session hosted by the Unctad felt that public health concerns in the patent new regime would need to be addressed at the policy level. Experts felt that the coming of the product patent regime would pose challenges to the Indian pharma industry but not undermine its essential strengths. Mr Kamal Nath said that India must use the Free Trade Agreement (FTA) to its advantage. “It is a recognised fact that progressive liberalisation in the bilateral and regional spheres builds the necessary confidence in our domestic industries and makes them globally competitive,” he said. On the Preferential Trading Arrangements (PTAs) and FTA that India was engaged in, Mr Kamal Nath said the oldest PTA India had was the Bangkok Agreement, which was at present operational among India, China, Bangladesh, Korea and Sri Lanka. |
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Don’t misuse PSUs, warns PM
New Delhi, August 13 In a letter to all ministers of the UPA government, the Prime Minister said proper and efficient functioning of the PSUs was of paramount importance to accomplish the goals as envisioned in the national Common Minimum Programme (CMP). Sources in the Prime Minister’s Office (PMO) said Dr Singh has directed the Cabinet Secretary to “closely monitor compliance” of the guidelines while making appointments of senior management personnel in PSUs. He said the Cabinet Committee on Appointments has come out with standing instructions and guidelines on appointment of senior officials in the PSUs. The Prime Minister in his letter said it was mandatory not to deviate from these guidelines and policies. |
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Dalmia eyes Baddi to set up unit
Chandigarh, August 13 Mr Banerjee was in the city to address management professionals, CEO’s and entrepreneurs on “ How to build a winning organisation”. In an interview, he said, the mission of their company was to prevent people from tobacco intake and said 8 lakh Indians died every year due to tobacco usage. The company has launched tobacco-free bidi and would also be launching tobacco-free cigarettes shortly. Research for the same was still going on, he said. The task at hand is no easy as it is difficult for smokers to shun nicotine. “Though in taste, such tobacco-free products come closer to that of tobacco, yet they are not addictive”, he said. |
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PHDCCI urges Punjab to identify SEZs
Chandigarh, August 13 The Central Government has already made announcements in this regard, a PHDCCI press note said, adding that the chamber would help expedite industrialisation and growth in terms of export and employment in the state. |
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Hong Kong woos Bollywood
New Delhi, August 13 Hong Kong is making a fervent bid to attract some business keeping in mind those Bollywood producers and directors, who are always hunting for new locations. The country hopes that from just three movies shot in Hong Kong over three decades, the number would swell. Addressing the media here, Mr David Leong, who has been given the charge to promote Hong Kong tourism in the Asian countries, said here that the Hong Kong Tourism Board (HKTB) believes the movie-making linkage provides a real business opportunity. Surveys disclose that almost 15 per cent of visitors to Hong Kong are interested in seeing those locales where Hindi movie scenes have been shot. He said while Hong Kong was already a film production centre of international repute, it needs to be promoted among Indian filmmakers. As a result, the HKTB is not only willing to have more interaction with the Indian filmmakers but has already taken some of them to the exotic locales there. Besides, it is also willing to play the role of a ‘middleman’ in promoting joint film production between Indian filmmakers and those from Hong Kong. Incidentally, arrivals into Hong Kong during the first six months of this year has crossed the 10 million mark. Mr Leong was particularly happy with the Indian contribution, which has already exceeded the figure of 1.2 lakh visitors during the first six months.  |
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SIC Bank slaps notice on Somaiya
Mumbai, August 13 Announcing the decision of the bank, Mr Raghavan Sarathy, chairman, SICBL, told reporters here today that legal notices have been sent to Mr Kirit Somaiya, head of BJP’s economic cell. He said Mr Somaiya has presented a false financial statement about the bank in his press statement.
— UNI |
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