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Praful Patel Calls for Growth of Capital Goods Industry in India

Shri Praful Patel, Minister for Heavy Industries and Public Enterprises addressed the National Conference on Emerging Opportunities for the Capital Goods Industry organised by Confederation of Indian Industry (CII), here today. The minister said that strengthening of manufacturing sector, particularly the capital goods sector would bring down the heavy dependence on imports. “Look at the …

CSE welcomes Supreme Court notice on proposal to tax diesel cars

The Supreme Court has acknowledged that dieselisation of cars needs to be addressed with effective tax measures The Court has sought a report on the status of public transport New Delhi, November 26, 2012: Centre for Science and Environment (CSE) has welcomed a proposal to tax diesel cars. The proposal — mooted in the Supreme …

Mood to shop remains stable among Germans: Findings of the GfK Consumer Climate study for Germany for November 2012

Nuremberg, 26 November 2012 – A varied picture emerges of the mood among consumers in Germany in November. While economic expectations improved slightly, both income expectations and willingness to buy dropped. Following a revised value of 6.1 points in November, the overall indicator is forecasting 5.9 points for December. As a result of the European …

Setting up of Steel Plants

The Minister of Steel, Shri Beni Prasad Verma has said that Steel is a de-regulated sector and Memorandum of Understanding (MoU) is purely an understanding between the concerned State Government and the respective steel investors. Ministry of Steel does not monitor the progress of MoUs. As per the available information in the Ministry of Steel, …

Export Duty on Iron Ore

The Minister of Steel, Shri Beni Prasad Verma has said that according to global rankings released by the World Steel Association (WSA), India was the 4th largest crude steel producer in the world in 2010, 2011 as also during January – September 2012. The details of global rankings of producers in terms of crude steel production …

FDI in Various Sectors

As per extant FDI policy, FDI, up to 26% is permitted, in the defence sector, with prior Government approval. Government has, further, interalia announced the following decisions:- (i) Amendment of certain conditions relating to FDI, up to 100%, in single brand retail trading, vide Press Note No. 4(2012 Series) dated 20.9.2012 (ii) Permitting FDI, up …

Sourcing Norms for Single/Multi Brand Retail

Vide Press Note 4 (2012 series) issued on 20.09.2012 certain conditions relating to FDI in single brand product retail trading have been amended. The amended policy, inter-alia, includes the following condition in respect of proposals involving FDI beyond 51% in single brand product retail trading:- “In respect of proposals involving FDI beyond 51%, sourcing of …

Inchcape Shipping Services supports PGS on European marine survey

Inchcape Shipping Services (ISS), the world’s leading maritime services provider, has been appointed by Petroleum Geo-Services (PGS) to support a key marine seismic survey project in Greece. Under the three month research project, ISS Greece will provide marine services to the survey vessel ‘Nordic Explorer’ and two smaller support vessels as they work along the …

Formosa Heavy Industries orders four continuous casting lines from Siemens for major steelmaking project in Vietnam

Siemens Metals Technologies received an order from the Taiwanese steelmaking company Formosa Heavy Industries Co. to supply four continuous casting lines as part of the new construction of a steelmaking plant in Vung Ang, Vietnam. The order is specifically for two slab casters, one billet caster and one bloom caster with a total installed capacity …