Archive for November, 2011

Finance Minister Pranab Mukherjee’s opening remarks in Kathmandau today after signing the Double Taxation Avoidance Agreement (DTAA)

Comments Off | 11-28-2011

Here are the opening remarks of the Finance Minister:
‘It is an honour and a privilege to be in this beautiful city, the capital of Nepal. It brought back fond memories of my previous visits. It has been a very busy but most useful visit to Kathmandu.
During the visit, I called on the Prime Minister Rt

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Indian Market has Opened up to Global Movies, Says Phillip Noyce

Comments Off | 11-28-2011

Acclaimed Australian film director Phillip Noyce has said that the Indian market has opened up to global movies and the acceptability of international projects has flourished here. He stated that cinema has progressed by leaps and bounds across the world and it was really heartening to see its growing reach in a country as diverse

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FDI in Retail Sector to create 10 million jobs: Anand Sharma

Comments Off | 11-27-2011

The decision of the Union Cabinet to permit FDI into multi-brand retail in the country will create 10 million new jobs including 6 million in the logistics sector alone, said Shri Anand Sharma, Union Minister for Commerce and Industry. Addressing a media conference at Chennai this afternoon he said the policy has to be viewed

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India and Nepal to Sign Revised Double Taxation Avoidance Agreement

Comments Off | 11-27-2011

Double Taxation Avoidance Agreement (DTAA) between India and Nepal will be signed tomorrow by the Finance Ministers of both the countries in Kathmandu. This Agreement (DTAA) would replace an earlier Agreement between two countries which was signed way back in 1987. The Union Finance Minister Shri Pranab Mukherjee will be visiting Nepal on a day’s

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India to Develop 10,000MW Hydro Power in Bhutan

Comments Off | 11-27-2011

Ongoing cooperation between India and Bhutan in the hydropower sector is covered under the 2006 agreement on cooperation in Hydropower between the two countries and the Protocol to the 2006 agreement signed in March, 2009 thereof.  Under the Protocol, Government of India has agreed to develop 10,000 MWs of hydropower in Bhutan for export of

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Foreign Investment in Power Sector

Comments Off | 11-27-2011

The present installed power generation capacity in the country as on 31.10.2011 is 182689.62 MW. Thermal power projects of 78545 MW and hydro power projects of 15707 MW  are under construction in the country for likely commissioning during 11th and 12th Plan.
In order to attract foreign investments in the power sector, Foreign Direct Investment (FDI)

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48 Indian Cities to be Developed as Solar Cities

Comments Off | 11-27-2011

The Ministry of New and Renewable Energy proposes to develop 60 cities as solar cities.  So far, based on proposals received by the Government from various Sates, ‘in-principle’ approval has been given to 48 cities to be developed as solar cities in the country. Out of these, sanctions have been given

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18 Proposals of Foreign Direct Investment Amounting to ` 2126.20 Crore Approved

Comments Off | 11-27-2011

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on November 15, 2011, Government has approved 18 Proposals of Foreign Direct Investment amounting to ` 2126.20 crore approximately.
In addition, one proposal viz (i) M/s Unitech Wireless (TN) Pvt. Ltd., amounting to ` 8250 crore,

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Sub-Committee Constituted by RBI under Shri Y.H. Malegam Submits its Report regarding Micro Finance Sector

Comments Off | 11-27-2011

In view of the developments in the Microfinance sector, particularly in Andhra Pradesh, the Reserve Bank of India (RBI) had in October, 2010 constituted a Sub-Committee under Shri Y.H. Malegam, Member of the Central Board of Directors of RBI, to study issues and concerns of the Micro Finance Sector including interest rates charged by the

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Frankfurtrheinmain Region being Promoted as an Attractive Business Location

Comments Off | 11-27-2011

A delegation of experts from German film industries are in India to promote the FrankfurtRheinMain region as an attractive business location. During the trip, the FrankfurtRheinMain GmbH International Marketing of the Region is organising investment seminars led by experts in Mumbai and Goa.
Addressing a press conference at the Media Centre here today, Dr. Hartmut Schwesinger,

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