Posts tagged ‘New Delhi’

12/02/2014

Election season in India comes with freebies – Businessweek

Just before village council elections, Southern Tamil Nadu state Chief Minister J. Jayalalitha went all out to gain favor with rural voters. Schoolgirls received laptops. Farm workers got cows and goats. Homemakers were given spice grinders and fans.

The price tag for the giveaway, which started in 2011 and continues today: 20 billion rupees ($322 million) in a state of about 70 million people.

Freebies are a fact of life in Indian politics, and items like livestock are only part of it. All three parties seen as the front-runners in upcoming elections have enticed voters with subsidies on electricity, cooking gas or grain.

via Election season in India comes with freebies – Businessweek.

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08/02/2014

India Predicts Climb From Decade-Low GDP Growth Amid Risks (1) – Businessweek

India forecast a faster acceleration in economic growth than analysts had estimated, a prediction facing risks from interest-rate increases to quell inflation and expenditure curbs by the government.

Gross domestic product will rise 4.9 percent in the 12 months through March 31, compared with the decade-low 4.5 percent in the previous fiscal year, the Statistics Ministry said in New Delhi yesterday. The median of 24 estimates in a Bloomberg News survey had been 4.7 percent. The projection may be revised upward later and the final growth rate is unlikely to be less than 5 percent, Finance Minister Palaniappan Chidambaram said in a statement e-mailed today.

India last month joined nations from Brazil to Turkey in raising interest rates, striving to stem the fastest inflation in Asia and shield the rupee from a reduction in U.S. monetary stimulus that’s hurt emerging-market assets. Opinion polls signaling that the general election due by May could lead to an unstable coalition government are adding to risks.

via India Predicts Climb From Decade-Low GDP Growth Amid Risks (1) – Businessweek.

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07/02/2014

India’s Visa-On-Arrival: ‘A Game Changer’ – India Real Time – WSJ

Analysts on Friday hailed the Indian government’s decision to grant visas on arrival to travelers from 180 countries, a move they said would boost tourism, earnings from which could help deflate the country’s bloating fiscal deficit.

This is a “game changer for the Indian economy,” Rajiv Biswas, IHS Global’s chief economist for Asia, said in a statement.

“The new liberalized visa regime has the potential to make India one of the most favoured tourist destinations of the world,” Jyotsna Suri, the vice president of New Delhi-based Federation for Indian Chambers of Commerce and Industry, said in another statement.

On Wednesday, India announced it sought to extend its visa-on-arrival program to tourists from 180 countries, including the U.K., U.S. and China, in a bid to accelerate slow growth in tourism. Previously, only 11 countries — including Finland, Singapore and Japan — were covered under the scheme, which began in 2010. Those visas were valid for 30 days and cost $60.

The Tourism Ministry, in a note on its website, said it found that the scheme had encouraged more tourists to visit India. In 2013 for instance, more than 20,000 visas were issued on arrival, about five times more than in 2010.

Under the new program, the ministry said, travelers can register for an Indian visa online. The visas can then be collected on landing at one of the 26 international airports across the country. Rajeev Shukla, the country’s planning minister who made the announcement, said it could take about five to six months to get the expanded visa-on-arrival program off the ground. The first of these visas, he said, are likely to be issued in October.

via India’s Visa-On-Arrival: ‘A Game Changer’ – India Real Time – WSJ.

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06/02/2014

Big Pharma pushes for U.S. action against India over patent worries | Reuters

An Indian government committee is reviewing patented drugs of foreign firms to see if so-called compulsory licenses, which in effect break exclusivity rights, can be issued for some of them to bring down costs, two senior government officials told Reuters.

A private security guard looks out from a window of the head office of Natco in the southern Indian city of Hyderabad March 13, 2012. REUTERS/Krishnendu Halder

The drugs that are part of the review process are used for treating cancer, diabetes, hepatitis and HIV, said the sources, declining to give details. No timeline has been given for completion of the review process.

Emerging markets, from South Africa to China and India, are battling to bring down healthcare costs and boost access to drugs to treat diseases such as cancer, HIV/AIDS and hepatitis.

Western drugmakers, including Pfizer Inc, Novartis AG, Roche Holding AG and Sanofi SA, covet a bigger share of the fast-growing drugs market in India.

But they have been frustrated by a series of decisions on patents and pricing, as part of New Delhi’s push to increase access to life-saving treatments where only 15 percent of 1.2 billion people are covered by health insurance.

via Big Pharma pushes for U.S. action against India over patent worries | Reuters.

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04/02/2014

Global carmakers see small sedans as next hot market in India | Reuters

F.N) and Hyundai Motor Co (005380.KS) will showcase compact sedans at India\’s largest auto show this week, targeting what they think could be the next hot market in a country long dominated by ultra-cheap hatchbacks.

A Ford 2015 F-150 truck is seen outside the New York Stock Exchange in the Manhattan borough of New York, January 13, 2014. REUTERS/Lucas Jackson

Global carmakers are still banking on emerging economies including India, the world\’s sixth biggest auto market by volume, to drive long-term growth despite a recent slowing in demand. Industry-wide sales in India are headed for a second straight annual decline in the fiscal year that ends in March.

Hyundai, the biggest foreign carmaker in India, will next month roll out its Xcent compact sedan, which is under four meters and thus taxed less heavily than longer cars in India, executives said at the car\’s global unveiling on Tuesday.

The car will be on display at this week\’s auto show in the outskirts of New Delhi, which opens to the public on Friday.

via Global carmakers see small sedans as next hot market in India | Reuters.

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01/02/2014

* India, Japan to cooperate in energy, telecoms – Businessweek

India and Japan have signed agreements on cooperation in the energy and telecom sectors during Japanese Prime Minister Shinzo Abe\’s visit to New Delhi.

Indian Prime Minister Manmohan Singh held talks with Abe on Saturday and said India was taking steps to facilitate Japan\’s links with India\’s growing economy.

Singh said that India also was discussing with Japan the possibility of buying an amphibian aircraft called the US-2 and its co-production in India. \”More broadly, we are working toward increasing our cooperation in the area of advanced technologies.\”

The two agreed to hold regular consultations between their national security councils on security issues. India invited Japan\’s Maritime Self-Defense Force to participate in this year\’s India-U.S. naval exercises off India\’s western coast, according to a joint statement issued after the official talks.

The Indo-U.S. exercises, launched in 2006, include air operations and sea control missions aimed at preventing piracy and countering terrorism at sea.

Abe arrived in New Delhi on Saturday for a three-day visit. He was the chief guest at India\’s Republic Day celebrations on Sunday.

via India, Japan to cooperate in energy, telecoms – Businessweek.

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28/01/2014

REFILE-India close to buying Japan-made military aircraft in $1.65 bln deal | Reuters

India is set to become the first country since World War Two to buy a military aircraft from Japan, helping Prime Minister Shinzo Abe end a ban on weapons exports that has kept his country\’s defence contractors out of foreign markets.

The two countries are in broad agreement on a deal for the ShinMaywa Industries amphibious aircraft, which could amount to as much as $1.65 billion, Indian officials said on Tuesday.

However, several details need to be worked out and negotiations will resume in March on joint production of the plane in India and other issues.

New Delhi is likely to buy at least 15 of the planes, which are priced at about $110 million each, the Officials said.

\”Its a strategic imperative for both sides, and it has been cleared at the highest levels of the two governments,\” said an Indian military source.

For the moment, a stripped-down civilian version of the US-2i search and rescue plane is being offered to India, to get around Japan\’s self-imposed ban on arms exports. A friend or foe identification system will be removed from the aircraft, another defence official said.

via REFILE-India close to buying Japan-made military aircraft in $1.65 bln deal | Reuters.

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27/01/2014

UPDATE 1-India lifts ban on Airbus A380s, foreign carriers interested | Reuters

India lifted a landing ban on Airbus A380s on Monday, enabling carriers such as Singapore Airlines and Emirates to fly their superjumbos into the world\’s second-most populous nation.

English: Singapore Airbus A380 Français : Un a...

English: Singapore Airbus A380 Français : Un airbus A380 de la compagnie Singapore Airlines. (Photo credit: Wikipedia)

A380s will be allowed to land at the country\’s four main airports – New Delhi, Mumbai, Bangalore and Hyderabad – which are equipped to handle the planes, a decision welcomed by foreign carriers looking to tap India\’s fast growing air travel sector.

\”The operation of A380s will help airports to generate more revenue, give more comfortable and luxurious travel to passengers, (and will) liberalise the civil aviation milieu in India,\” the civil aviation ministry said in a statement.

The ban on A380s was imposed due to concerns that foreign airlines could grab a high share of international traffic, hurting state-run Air India.

via UPDATE 1-India lifts ban on Airbus A380s, foreign carriers interested | Reuters.

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18/01/2014

Teenage German tourist raped on Indian train – The Local

A German charity worker was allegedly raped while sleeping on a train in southern India on Friday – the second European to report a rape in the country within a week.

The teenager was attacked while asleep on a train travelling from Mangalore in western India to Chennai on the east coast, where she was heading to volunteer with a charity.

Police said she was reportedly too scared to shout for help and alert passengers in her carriage, Indian news site NDTV said.

Officers said a man had been arrested in Chennai on suspicion of the rape.

The German, said to be just 18 years old, complained to police on Monday, three days after the alleged attack.

Seema Agarwal, Inspector General of Police, said: “The young lady took several days to muster courage to report to the police. Though it\’s too late for medical examination, we have handled the case in a very sensitive manner,” NDTV reported.

On Tuesday a 51-year-old Danish woman was allegedly robbed and gang-raped in the capital New Delhi. Police said 15 men had been arrested.

via Teenage German tourist raped on Indian train – The Local.

See also: http://www.businessweek.com/ap/2014-01-16/india-police-close-in-on-homeless-men-in-gang-rape

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