Sibal dispels fear over IIT faculty joining foreign institutions

New Delhi, May 21 (ANI): Union Human Resource and Development (HRD) Minister Kapil Sibal on Friday said the teachers are patriotic enough not to sell their conscience for a little bit of money, thereby dispelling fears about Indian Institute of Technology (IIT) faculty joining foreign institutes.

“I know my faculty is patriotic and passionate about India and I know my faculty will not sell their conscience for a little bit of money,” said Sibal.

“Had it been the case, IIT teachers would have been picked up by the elite Stanford and Harvard University even today. But none have gone,” he added.

Sibal said faculty in IITs and Indian Institute of Management (IIM)s get good exposure, which may not be available in other institutions.

The attrition rate in IITs is zero. This is because the opportunities and benefits available in IITs cannot be matched anywhere else,” said Sibal.

“The kind of conferences and exposure you get at the international level, you won”t get in a private university, foreign or otherwise. You even can do independent consultants and earn money,” he added at the seminar organized by Associated Chambers of Commerce and Industry of India (ASSOCHAM).

On apprehension that foreign institutions may compromise with quality, Sibal made it clear that they will be subjected to the same accreditation and assessment norms as domestic institutions.

“Foreign institutes will be subjected to the same laws as IITs and other institutes here abide to. The law does not allow any discrimination,” he said. (ANI)

No change in policy on foreign ownership in banks: Sharma

New Delhi, April 5 (IANS) Commerce and Industry Minister Anand Sharma Monday said the government has no plans to alter its policy on foreign ownership in banks in India.

‘As far as ownership and control are concerned, that has been defined with clarity and the calculation of FDI (foreign direct investment) is much simpler. The policy has worked well,’ the minister told reporters on the sidelines of an event organised by the industry lobby, Associated Chambers of Commerce and Industry of India (Assocham).

‘We have to look at it not from a narrow prism, but look at the larger picture,’ he added.

According to the new policy brought about by the government in February this year, an Indian bank in which a foreign investor holds 51 percent stake or more is considered a foreign bank.

Some Indian banks falling under this category have sought clarifications from the finance ministry on the new policy as they fear that future investments by foreign investors could be restricted.

‘There are some banks and talks have been there between the Reserve Bank of India, Finance Ministry and the Commerce Ministry,’ Sharma said.

Namibian President to meet Manmohan Singh today

New Delhi, Aug 30 (ANI): Namibian President Hifikepunye Pohamba will hold official-level talks with Prime Minister Dr. Manmohan Singh here today.

Several agreements/MoUs for institutionalizing bilateral cooperation are expected to be signed.

The two sides will ink a MoU to provide an umbrella framework for Indian investment in the exploration of mineral resources, including gold, diamond and uranium in Zambia.

Later, President Pohamba will call on President Pratibha Patil.

Vice President Hamid Ansari, the Leader of Opposition L K Advani and UPA Chairperson Sonia Gandhi will also call on him.

The Associated Chambers of Commerce and Industry of India (ASSOCHAM), the Confederation of Indian Industry (CII) and the Federation of Chambers of Commerce and Industry (FICCI) are jointly organizing an interaction with the Indian business community for the visiting Namibian delegation in New Delhi.

The Namibian President arrived here on Sunday a five-day state visit to India.

This is President Pohamba’s first visit to India.

He is accompanied by a 43-member delegation, which includes five Ministers, senior officials, representatives of Chambers of Commerce and Industry, businessmen. (ANI)

Namibian President arrives in India

New Delhi, Aug 30 (ANI): Namibian President Hifikepunye Pohamba arrived here on a five-day state visit to India today.

This is President Pohamba’s first visit to India.

He is accompanied by a 43-member delegation, which includes five Ministers, senior officials, representatives of Chambers of Commerce and Industry, businessmen.

During his visit, President Pohamba will call on President Pratibha Patil and would hold official talks with Prime Minister Dr. Manmohan Singh.

Several agreements/MoUs for institutionalizing bilateral cooperation are expected to be signed.

The two sides will ink a MoU to provide an umbrella framework for Indian investment in the exploration of mineral resources, including gold, diamond and uranium in Zambia.

Vice President Hamid Ansari, the Leader of Opposition L K Advani and UPA Chairperson Sonia Gandhi will also call on him.

The Associated Chambers of Commerce and Industry of India (ASSOCHAM), the Confederation of Indian Industry (CII) and the Federation of Chambers of Commerce and Industry (FICCI) are jointly organizing an interaction with the Indian business community for the visiting Namibian delegation in New Delhi.

India and Namibia enjoy friendly and mutually supportive ties.

Both countries have excellent interaction in various international fora, including the UN, the NAM and the Commonwealth and share a commonality of views on major international issues such as UN Reforms and combating international terrorism.

Namibia has consistently expressed its support for India’s candidature for Permanent Membership of an expanded the UNSC.

The Namibian Government expressed its solidarity with and full support for India on the terrorist attacks in Mumbai in November 2008.

India has executed a number of projects in Namibia including plastic demonstration centres, biogas units and solar power plants.

India had gifted tractors and diesel engine pumps to the Namibian agriculture sector and 20 incubators to the Indira Gandhi Maternity Clinic in Namibia.

Namibia regularly avails of training facilities under ITEC programme in various fields. everal Indian ITEC experts have been involved with policy formulation in the country since independence. (ANI)

Nepal PM visits Rajghat

New Delhi, Aug.19 (ANI): Nepal Prime Minister Madhav Kumar Nepal, who is on a five-day official visit to India, visited Rajghat, the memorial dedicated to Mahatma Gandhi, on Wednesday.

Later, Nepal will meet External Affairs Minister S.M.Krishna at the Hotel Oberoi. He will proceed to meet President Pratibha Patil for about 30-minutes.

He will also attend and address a business luncheon meeting hosted jointly by the Confederation of Indian Industry (CII), the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Associated Chambers of Commerce and Industry (ASSOCHAM).

On Wednesday evening, he will call on Vice President Mohammad Hamid Ansari at the latter’s official residence and will meet UPA Chairperson Sonia Gandhi at her 10, Janpath residence.

Thereafter, he will proceed to Hyderbad House for delegation level talks with Indian Prime Minister Manmohan Singh. A signing of bilateral agreements will follow the meeting. Although the Pancheshwar multi-purpose project will be discussed, no specific agreement will be signed.

The main opposition CPN (Maoist) has warned the government not to sign any agreement related to the Pancheshwar project without a consensus.

On Thursday, Nepal will meet Finance Minister Pranab Mukherjee and Union Home Minister P. Chidambaram.

In the evening, he will address a meeting of intellectuals and academia at the India International Centre.

He will leave for a day-long visit to Mumbai on Friday and will return to Kathmandu on Saturday afternoon.(ANI)

Rajasthan attracts highest investment in north India

New Delhi, May 27 (IANS) Rajasthan attracted investments worth Rs.69,052 crore, the highest among northern states, during 2008-09, a business chamber report released here Wednesday said.

The report, ‘Investment Prospects in Indian Economy 2008-09′ by the Associated Chambers of Commerce and Industry (Assocham), said Haryana, which attracted investments worth Rs.52,852 crore, came second, followed by Uttarakhand with Rs.36,059 crore.

Uttar Pradesh secured fourth rank, notching Rs.35,343 crore last fiscal, while Delhi with investments worth Rs.11,758 crore came in the fifth position.

Punjab received investments worth Rs.5,122 crore, Himachal Pradesh Rs.3,908 crore and Jammu and Kashmir Rs.645 crore.

Union Territory of Chandigarh attracted Rs.540 crore, the report said.

Top sectors that attracted planned investments in Rajasthan include real estate (Rs.40,945 crore), energy (Rs.19,400 crore), hospitality (Rs.6,388 crore) and cement (Rs.1,537 crore).

In Haryana, real estate sector secured Rs.43,565 crore as against Rs.5,345 crore of hospitality sector. Infrastructure and retail sectors respectively received investments worth Rs.2,150 crore and Rs.620 crore.

In Uttarakhand, energy sector attracted largest investments at Rs.30,300 crore.

Textiles secured Rs.2,100 crore, while healthcare and automobile sectors received Rs.920 crore and Rs.840 crore respectively.

In Delhi, hospitality sector received the largest share of investments at Rs.6,328 crore, followed by real estate at Rs.2,670 crore.

In Uttar Pradesh, the real estate sector attracted investments worth Rs.26,390 crore, followed by Rs.4,183 crore in energy and Rs.2,150 crore in infrastructure sectors.

According to Assocham secretary general D.S. Rawat, Rajastan’s well connectivity and good infrastructure facility with hassle-free business environment attracted investors.

“Single window system is quite in Rajasthan with abundant availability of natural resources. Almost similar is the case in the states of Uttarakhand, Haryana and even Punjab,” he added.

India Inc looks at ‘conducive’ milieu under Manmohan

New Delhi, May 22 (IANS) Riding high on optimism, India Inc has expressed great hope that Manmohan Singh’s second term as prime minister will bring India back on the path of economic growth.

Harsh Pati Singhania, president, Federation of Indian Chambers of Commerce and Industry (Ficci) said: “Under the leadership of Dr. Manmohan Singh, we are sure that we would get a conducive economic environment in which we could propel growth and go back to the 9 percent growth trajectory.

“We are happy with the achievement of political stability which will facilitate the acceleration of the reform agenda,” he added.

Noting that the outcome of the 2009 elections has been a stable government, Chandrajit Banerjee, director general, Confederation of Indian Industry (CII) said his organisation looks forward to working closely with the government in reviving the economy during the coming days, and charting a course towards higher economic and social growth.

Associated Chambers of Commerce and Industry of India (Assocham) president, Sajjan Jindal has promised him all possible industry support, and hoped the reforms in financial, agriculture and civil aviation and other sectors will continue for inclusive growth.

“Dr. Singh has already proved his mettle in the first term of the prime ministership and brought about metamorphic social and economic changes in India’s plural society,” he said, adding he hoped industry will see reforms happening in insurance, banking, financial, agriculture and labour sector so that India consistently achieves higher growth rate under which manufacturing will flourish and jobs created for rural and urban India.

The Assocham chief said he hoped that the National Rural Employment Guarantee Scheme and Bharat Nirman will receive higher allocation so that poverty is eradicated and rural India is adequately connected with urban one, bridging the current urban-rural divide.

Patil arrives in Spain, calls for strengthening forces of peace

Madrid (Spain) , April 20, 2009 (ANI): President Pratibha Devi Singh Patil on Monday called for strengthening the forces of peace soon after arriving in Spanish capital Madrid.

Patil, who was received by Spain’s Minister for Science and Innovation, Cristina Garmendia, said she was delighted to be visiting both Spain and Poland, countries with whom India has close relations.

She said that India shares with Spain and Poland common values and principles such as plural democracy, respect for human rights and fundamental freedom, tolerance, the determination to fight terrorism and to strengthen democratic values.

Earlier talking to the media onboard her presidential aircraft, the President expressed her determination to curb the terrorism with the support of countries like Spain and Poland.

She said: “Both Spain and Poland were forthright in their condemnation of the Mumbai attacks in November last year. We greatly appreciate that both these countries were forthcoming in expressing strong messages in the global fight against terrorism”.

She said: “My visits to Spain and Poland will also help consolidate our rapidly developing relations with Europe and the European Union. The European Union is a strategic Partner of India and we are in the process of implementing a comprehensive joint action plan”.

This is first state visit by an Indian President to Spain and the fourth by an Indian President to Poland. The last visit to Warsaw was undertaken by late Dr. Shanker Dayal Sharma in October 1996. India has multi sectoral and useful exchanges in trade matters, investment, science and technology, tourism, culture, defense and renewable energy. Patil would address the Parliaments of both Spain and Poland during her week-long visit.

“I am looking forward to my visit and discussions, and I am confident that following this, we will begin a new phase in strengthening our partnership with these two important European countries along with whom we face common challenges and that common determination to strengthen the forces of peace, security and development,” she said.

The president is being accompanied by a composite business delegation comprising members of CII, FICCI and ASSOCHAM, besides Minister of State for Commerce and Industry, Ashwani Kumar.

Spain is a leading power in wind and solar energy, tourism, automobiles, IT, infrastructure, science and technology.

Last year, India’s bilateral trade with Spain was pegged at 4.5 billion dollars.Trade exchanges with Poland exceeded one billion dollars in the same period. Patil said Indian companies are showing growing interest in Poland in areas such as energy, health , information communication technology and chemicals. By Ravinder Singh Robin (ANI)

President leaves for a week-long visit to Spain, Poland

New Delhi, Apr 20 (ANI): President Pratibha Devisingh Patil today left for a week-long visit to Spain and Poland.
During her visit, Patil is likely to sign a number of bilateral agreements to further boost India’s relations with the European countries.

Patil is being accompanied by Minister of State for Industrial Policy and Promotion Ashwani Kumar and a business delegation comprising members of the Confederation of Indian Industry (CII), the Federation of Indian Chambers and Commerce and Industry (FICCI) and the Associated Chambers of Commerce and Industry of India (ASSOCHAM).

Issues like economy and fight against terrorism would form the vital part of discussions between President Patil and her counterparts in Spain and Poland.

The President is also expected to address the Indian community there.

This will be the first-ever State visit by an Indian President to Spain and the fourth such visit to Poland.

The CII in its recent report has underlined potential areas of development and cooperation between India and Spain.

It has stated that the crucial sectors, which should be concentrated on, include IT, environmental technology, aerospace, automobile, infrastructure, transportation, pharmaceutical, SMEs and textiles.

India and Spain should consider having bilateral investment treaties as a tool to enhance investments, the report said, adding that New Delhi could be a gateway for Spanish enterprises to the South-East Asian region.(ANI)

President on a week-long visit to Spain, Poland

New Delhi, Apr 19 (ANI): President Pratibha Devisingh Patil is leaving for a week-long visit to Spain and Poland on Monday.

During her visit, Patil is likely to sign a number of bilateral agreements to further boost India’s relations with the European countries.

Patil would be accompanied by Minister of State for Industrial Policy and Promotion Ashwani Kumar and a business delegation comprising members of Confederation of Indian Industry (CII), Federation of Indian Chambers and Commerce and Industry (FICCI) and the Associated Chambers of Commerce and Industry of India (ASSOCHAM).

Sweltering issues like economy and fight against terrorism would form the vital part of discussions between Patil and her counterparts in Spain and Poland.

The President is also expected to address the Indian community there.

This will be the first-ever State visit by an Indian President to Spain and the fourth such visit to Poland.

Meanwhile, the CII in its recent report has underlined potential areas of development and cooperation between India and Spain. It has stated that the crucial sectors, which should be concentrated on, include IT, environmental technology, aerospace, automobile, infrastructure, transportation, pharmaceutical, SMEs and textiles.

India and Spain should consider having bilateral investment treaties as a tool to enhance investments, the report said, adding that New Delhi could be a gateway for Spanish enterprises to the South-east Asian region. (ANI)

Assocham study: Companies seeing rural India as potential for revenue growth

According to a recent study by the Associated Chambers of Commerce and Industry of India (Assocham), though there is a noticeable slump in demand for fast moving consumer goods (FMCG) in the urban markets, the rising demand in rural areas is attracting manufacturers of consumer products and automobiles, and even organised retail businesses.

The Assocham study titled ‘The Rise of Rural India’ reveals that the global financial meltdown notwithstanding, rural India is being seen as a potential for healthy revenue growth for companies, thanks to a robust demand for products of FMCG, two-wheelers, passenger cars as well as retail sectors.

With a special reference to the FMCG sector, the study noted that a number of FMCG firms, including DCM and ITC, have been witnessing better product demand and higher growth rate in the rural markets vis-à-vis the urban markets.

Commenting on the situation, Assocham president Sajjan Jindal said: “FMCG sector in rural areas is expected to grow by 40 percent as against 25 percent in urban areas.”

Mentioning the reasons for the rise in rural demand, Jindal said: “Rising rural incomes, healthy agriculture growth, boost in demand, rising consumerism across India, better penetration of FMCG products in the rural market are contributing to high growth and rapid expansion of the FMCG industry in rural India.”

Economic Crisis Takes Toll On Health Of Corporate Sector Workforce: Assocham Report

The worldwide economic recession is spreading obscurity and misery all over.

In its latest report, industry body Assocham said that over half of corporate India’s personnel suffers from a range of chronic and lifestyle problems.

The report also said employees working in the information technology (IT) and IT-enabled services (ITES), media, knowledge process outsourcing (KPO) and financial services topped the list.

The common problems among 54% of the financial and IT sector employees include depression, severe headaches, obesity, chronic backache, spondylitis, diabetes and high blood pressure.

Assocham released a study ‘Corporate Workforce: Chronic and Lifestyle Disease’ on the eve of the World Health Day.

Assocham prepared the report after surveying 210 corporate employees from 200 different companies across 18 broad segments such as media, telecommunication and knowledge process outsourcing.

Mr. D.S. Rawat, Assocham secretary general, stated, “Corporate employees have to survive the stiff global competitive environment to save their jobs, which affects their health.”

According to report, around 47% of respondents working in the financial services segment are suffering from exhaustion, diabetes and heart problems.

The report also said that 51% of participants working in the media sector suffered from similar disorders, with about 36% from hypertension, 29% from depression and 15% afflicted with diabetes.

In addition, 27% of employees telecom segment are suffering from chronic diseases.

The report also said that the National Commission on Sleep Disorders estimations that lack of sleep results in higher strain and cut down workplace output.

But, the study discovered that few segments including education, FMCG and textiles reported very less proportion of employees suffering from harsh health problems.

South India more attractive for investors: Assocham

New Delhi, April 5 (IANS) Metros in South India are more attractive for infrastructure projects than their counterparts in the other parts of the country, an industry lobby report said Sunday.

According to the report, ‘Indian Metros: Pulling Infrastructure Investment’, released by the Associated Chambers of Commerce and Industry (Assocham), Hyderabad, Bangalore and Chennai received 70 percent of the total private infrastructure investment came to the six major metros in the country.

Kolkata, Mumbai and Delhi account for the remaining 30 percent.

‘In the past four years, private sector has invested Rs.33,161 crore in three metros of South India compared to Rs.14,240 crore of infrastructure investments in other tier I cities,’ the chamber said.

Assocham president Sajjan Jindal said better state policies and high literacy rate in the southern cities attract most of the investors.

‘Even though these cities are less urbanised with combined urban population of about 16 million, they attract private infrastructure projects primarily due to better state policies, better human talent, high literacy rates, and faster rising in per capita income,’ he said.

Despite the economic slowdown, real estate developers are ready to launch new projects in these cities, the study said, adding that 12 major real estate projects were announced in the last six months in the southern metros.

Out of the 12 projects, six went to Bangalore, when Hyderabad and Chennai got five and one respectively.

Besides, the three cities have attracted investments worth Rs.12,150 crore in five special economic zone (SEZ) projects.

The Assocham has added that three major hotel projects at an investment of Rs.5,375 crore are coming up in these cities.

The south is also moving fast in the power sector. Elango Industries and Toshiba will invest Rs.1,415 crore to set up two power projects in Chennai, the industry lobby said.

PM reviews current economic situation with industry leaders

New Delhi, Mar 28 (ANI): Prime Minister Dr. Manmohan Singh on Saturday reviewed the current economic situation with top industry leaders.

Dr. Singh sought their views on India’s stand at the G-20 summit for a way out of the global crisis.

The meeting was attended by Tata group head Ratan Tata, Aditya Birla group chairman Kumar Mangalam Birla, ICICI Managing Director and CEO K V Kamath, Essar Group’s Shashi Ruia and FICCI President Harsh Pati Singhania.

Other prominent businessmen included Assocham President Sajjan Jindal, R P Goenka of the Goenka group, Adi Godrej of the Godrej group, Sunil Kant Munjal of Hero group, Baba Kalyani of Bharat Forge and CII Chief Mentor Tarun Das.

Planning Commission Deputy Chairman Montek Singh Ahluwalia and Cabinet Secretary K M Chandrasekhar also attended the meeting.

The Prime Minister, who is leaving for London on March 31 to attend the G-20 summit, will meet Obama and heads of other developed and developing nations and representatives of the International Monetary Fund, the World Bank and the Asian Development Bank.

Dr. Singh will have his first meeting with US President Barack Obama on the sidelines of the G-20 summit in London on April 2.

Apart from monitoring regulations of international finance institutions, Dr. Singh would also take up issues related to protectionism and job losses.

Bilateral regional and global issues, including the Afghanistan, Pakistan strategic review, climate change and the status of world economy will also figure prominently in the deliberations. (ANI)

Musharraf calls for Pak cooperation in 26/11 investigations

New Delhi, Mar 8 (ANI): Former Pakistani President Pervez Musharraf has said that the Pakistani Government should cooperate in the Mumbai attacks investigations and punish the perpetrators behind them.

Addressing a function organised by ASSOCHAM in New Delhi on Sunday, Musharraf said terrorists have no nationality.

However, he blamed India for creating war hysteria post the 26/11 attacks.

Calling for the enhancement of people-to-people contacts between New Delhi and Islamabad to boost bilateral trade and economy, Musharraf said economic integration would play a major role in achieving progress and well-being in India, Pakistan and the rest of the world.

Musharraf, who arrived in India on Friday to participate in the ‘India Today’ Conclave, interacted with top politicians and experts and urged them to overcome the burden of history and move towards peaceful relations by addressing all issues.

This is Musharraf’s first visit to India after he demitted office last year.

Before returning, Musharraf, born in Delhi, will go to various places of tourist interest in the New Delhi, including the Purana Quilla and Red Fort. (ANI)