Gold prices may touch Rs.18,000 per 10 gram: AssochamSeptember 13th, 2009 NEW DELHI - Gold prices may go up further during the forthcoming festive season to touch Rs.18,000 per 10 gram, according to the Associated Chambers of Commerce and Industry of India(Assocham). Gold has seen a huge build-up in the exchange traded funds (ETF) in the last few weeks and will gain further momentum in view of festive demand and low international production, Assocham said in a report.
Offer subsidies to exports sector: AssochamAugust 23rd, 2009 NEW DELHI - The government should announce subsidies to the crisis-hit exporters in the forthcoming foreign trade policy to make India's exports sector more competitive, the Associated Chambers of Commerce and Industry (Assocham) has said. "Subsidies need to be extended to Indian exporters by substantially reducing excise and local levies and other export duties," Assocham president Sajjan Jindal said in a paper submitted to Commerce and Industry Minister Anand Sharma.
India's arms imports to touch $30 bn by 2012: AssochamAugust 16th, 2009 NEW DELHI - India's arms imports are expected to touch $30 billion by 2012 even as the domestic defence market is poised to grow to $700 million in five years, according to an industry lobby report. The report submitted to the defence ministry by the Associated Chambers of Commerce and Industry (Assocham) said: "India's arms imports alone would rise to $30 billion by 2012."
"The Defence Offset Facilitation Agency (DOFA) and the armed forces in consultation with India Inc should work out a comprehensive strategy to ensure that defence imports happen at extremely competitive rates," Assocham president Sajjan Jindal said.
Create Rs.7,500-crore fund for meat and fish industry: AssochamJuly 22nd, 2009 NEW DELHI - The Associated Chambers of Commerce and Industry (Assocham) wants the government to set up a Rs.7,500-crore ($1.5-billion) corpus fund for the meat and fish processing industry. The fund could be used to infuse new technologies and skills into the food processing sector in order to increase the production of meat, fish and poultry by 25 percent in two years, the chamber said in a statement Wednesday.
Chemicals sector attracts highest foreign investmentJuly 12th, 2009 NEW DELHI - Despite the global slowdown, the chemicals sector witnessed the highest growth in foreign investment in 2008-09, says a report by an industry lobby. The report by the Associated Chambers of Commerce and Industry of India (Assocham) released Sunday said the chemicals sector (other than fertilisers), attracted $749 million last fiscal as compared to the $229 million it attracted the previous year - an increase of 227 percent.
'India's medical tourism earnings to double by 2012'June 18th, 2009 NEW DELHI - Medical tourism can fetch India up to Rs.8,000 crore in foreign exchange by 2012, nearly double than current figures, according to an industry lobby. "Currently, the earnings accrued through medical tourism annually are estimated to be around Rs.4,500 crore," said Sajjan Jindal, president of Associated Chambers of Commerce and Industry of India (Assocham) in a statement Thursday.
Bring coaching institutes under tax net: AssochamJune 17th, 2009 NEW DELHI - Coaching institutes must be brought under the tax net as they seldom disclose their earnings, the Associated Chambers of Commerce and Industry of India (Assocham) has said. In a note submitted to the revenue department of the finance ministry Wednesday, Assocham said coaching institutes were charging "astronomically higher fee without submitting proper accounts of their income to tax authorities".
Western India hot destination for corporate investmentJune 14th, 2009 NEW DELHI - Western India remained the most favoured investment destination for corporates in 2008-09, according to an industry lobby report. The Associated Chambers of Commerce and Industry (Assocham) said in its report, "Investment Prospects in Indian Economy in 2008-09", that the western region comprising Maharashtra, Gujarat, Goa and Daman and Diu attracted planned investments worth Rs.305,057 crore last year.
Violence leaves Punjab poorer by Rs.7,000 crore: AssochamMay 26th, 2009 NEW DELHI - Punjab has incurred property losses of up to Rs.7,000 crore on account of the violence by followers of the Dera Sachh Khand sect, according to conservative estimates arrived at by the Associated Chambers of Commerce and Industry of India (Assocham). "Social tension in Punjab has caused a loss of Rs.6,000-Rs.7,000 crore of public property and pushed behind its investment prospects to a significant extent," Assocham said in a statement Tuesday.
South India more attractive for investors: AssochamApril 5th, 2009 NEW DELHI - 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.
Getting a student visa to Britain will become easierApril 2nd, 2009 NEW DELHI - Getting a student visa to Britain will become much simpler. All you need to ensure is that you have got admission to a college there and will be able to support yourself financially during the course of the study.
India can generate 2,500 MW from waste: AssochamMarch 17th, 2009 NEW DELHI - With efficient recycling technology, India can generate about 2,500 MW of electricity from the metro's waste in the next three years at a cost of Rs.3 billion (Rs.300 crore), according to an industry lobby report. The study, jointly carried out by the Associated Chambers of Commerce and Industry (Assocham) and auditing major Ernst and Young (E&Y), said about 1,500 MW of power could be generated from urban wastes, while an additional 1,000 MW could be created from industrial wastes by 2012.
West Bengal slides in list of investment-friendly statesFebruary 22nd, 2009 KOLKATA - Post Nandigram and Singur fiascos, West Bengal slipped to 13th position in 2008 from fourth in the previous year among India's major investment-centric states, according to a paper brought out by the Associated Chambers of Commerce and Industry of India (Assocham). The paper highlights that the state received robust investment announcements worth Rs.2,434.89 billion in calendar year 2007, which fell to a meagre Rs.900.95 billion last year.
Indian mission outsources consular services in SingaporeFebruary 4th, 2009 NEW DELHI - In a move that will ease processing of travel and visa documents for inbound tourists from Singapore and boost tourism and trade ties between both the countries, the Indian High Commission in Singapore has hired Quoprro Global, a subsidiary of Cox and Kings India Limited, to start visa and passport services. According to the mandate given by the Indian High Commission, Quoprro Global will accept all visa applications for India from Singapore nationals and other foreign nationals, who are residents of Singapore, as well as passport applications for Indian nationals residing in Singapore.
India-Africa trade to grow nine times by 2012: AssochamJanuary 6th, 2009 NEW DELHI - Even as India's exports decline, India-African bilateral trade is projected to grow by over nine times from $26 billion now to $150 billion by 2012, according to an estimate by a leading business chamber. The Associated Chambers of Commerce and Industry of India (Assocham), in a report on Africa, projects that in the next four years the continent will have greater business significance and drive two-way trade to over $150 billion.
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