INDIA FOLIO

Vol.3 No.7

Embassy of India ~ Copenhagen  

 July 15, 2002

 

INDIA-DENMARK


An Indian Farmers Delegation Visits Denmark

A delegation of Indian farmers, who have been on a visit Denmark for 50 days under a programme of EU-India Cross Cultural Network, left for India after having extensive study of organic farming in Denmark. The visit was coordinated by the Punjab Agricultural University, Ludhiana and the Baring Hojskole in Denmark.

 

FOREIGN INVESTMENTS


India Attracts US$ 201.6 Million FDI Inflows in February 2002

 Foreign Direct Investment received by India during month of February 2002 exceeded US$ 200 Million, the electrical equipment sector also comprising computer software attracting the highest amount of all, thus accounting for 32.5% of total FDI inflow. While the service sector came in second place with 11.4%, India’s hotel & tourism sector accounted for 9.6% of total. Among the Indian constituent states, Karnataka took first place by gaining a share of 25.3% of total inflow in February 2002 followed by Tamil Nadu (17.7%) and Delhi (17.6%).

 

POLICY

Government Plans to Raise FDI Cap in Telecom to 74%

The Government of India is weighing the option of hiking the FDI cap on the telecom sector from the existing 49% to 74%. The issue has already been discussed during a meeting attended by the Telecom Minister, Mr.Pramod Mahajan, the Minister of Finance, Mr. Yashwant Sinha, and Law Minister Mr. Arun Jaitley. A relevant note is expected to be moved by the Industry Ministry. On earlier occasion, a similar proposal had been dismissed on security grounds. It is now felt, however, that proper solutions can be worked out.  

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INFORMATION TECHNOLOGY


TCS Sign Multi-Million $ Global Contract

The global software solutions enterprise Tata Consultancy Services (TCS) and  GE Medical Systems (GEMS) – a world leader in medical diagnostic imaging technology and healthcare productivity – have signed a multi-million US$ global contract for TCS to provide a complete range of global information technology solutions and services. The contract was signed by the President of GE Medical Systems, Mr. Joseph M. Hogan and Mr S. Ramadorai, Chief Executive Officer of TCS in Waukesha, Wisconsin, USA.


Polaris Wins major Japanese Bank Contract

Chennai-based Polaris Software has reported having bagged its largest contract ever within its banking products sector from Japan’s Shinsei Bank. Polaris will consequently implement its core retail banking product ‘BankWareT’ across the bank’s organization as well as in other Shinsei group companies.  Polaris is in the process of merging with Citigroup’s unlisted Indian technology unit Orbitech Solutions, thereby creating India’s sixth-largest software services exporters by sales.Shinsei Bank, the first Japanese bank to be taken over by a foreign investor, posted a profit last year, defying the trend in Japan’s banking sector.  

 

First Virtual Observatory in India

M/s Persistent Systems, a Rupee 400 Million Pune-based data infrastructure services company, recently tied up with the Inter-University Center for Astronomy & Astrophysics (IUCAA), the collaboration aiming at providing technical expertise and software development services in the field of data mining to India’s first virtual observatory being established by IUCAA at Pune. The project has been approved and funded by the Ministry of Information Technology, Government of India.

M/s Persistent Systems has also signed up with Sun Microsystems for co-marketing its connectors between a variety of database systems and Sun’s Directory Services. The Indian company’s directory products suite comprising Enlist, Ensure, and Enquire has been successfully installed at many Fortune 500 companies. Persistent’s customers include the who’s who of the global software industries such as Microsoft, Intel, Agilent Technologies, i2 Technologies, OpenWave Systems, Critical Path, Ephiphany, Oblix Inc., and Sun Microsystems.

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BIO-MEDICAL SECTOR


Indian Company Wins WHO Certification for Hepatitis B Vaccine

Indian company Shantha Biotechnics has been awarded the World Health Organization’s certification for its Hepatitis B vaccine named ‘Shanvac B’, the country’s first indigenous, recombinant DNA vaccine. The WHO prequalification makes the company the first and only company to be awarded such certification for Hepatitis B vaccine in India.  Shortly after having obtained the WHO approval, Shantha Biotechnics received an order worth US$ 5 Million from UNICEF for the supply of 8.5 Million doses of Shanvac B.

 

 
Ranbaxy Expanding Operations

Indian pharma major Ranbaxy Laboratories Ltd. is embarking on an aggressive growth path – both organic and inorganic – on its six key markets: India, USA, UK, Germany, China, and Brazil. - Ranbaxy expects its strategy for Europe to echo that of the UK market. With the German market exhibiting a four-time potential of the UK market, acquisitions are on the cards for Ranbaxy.  Continuing its bull run in the USA, Ranbaxy’s sales there are set to sail past the US$ 200 Million mark this year.  The company is likewise planning to locate a production unit in Brazil. 

 

India Signs Treaty on Plant Genetic Resources

India has signed the International Treaty on Plant Genetic Resources for Food & Agriculture. The Treaty was signed by the Union Agriculture Minister, Mr. Ajit Singh at the World Food Summit held on June 10th 02 in Rome, thus paving the way for India’s ratification of the International Treaty created to facilitate the conservation and sustainable use of plant genetic resources as well as a fair and equitable sharing of the benefits arising out of their use. Sustainable development of agriculture, food security, and access to plant genetic resources for creating new plant varieties is to be ensured all over the world through this Treaty.

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FORTHCOMING EVENTS


TRANSPORT INDIA 2002

                                             2-4 September 2002

 International Exhibition & Conference on Transport Systems for Freight & Passengers, Factory & Warehouse Cargo Handling, Packing & Labelling, Rail/Tram/Subway Transport, Railway Vehicles, Road/Highway/Bridge Development, Toll Bridges, Port Installations & Maintenance,  etc.

 Venue : Pragati Maidan Exhibition Center, New Delhi.

Organized by: Interads Ltd., New Delhi (e-mail: transport@interadsindia.com)

 

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Conference on
INDIA’S TAX COMPETITIVENESS

                                                November 13th-14th 2002

International Conference on Taxation Policy for Accelerating Domestic & Foreign Investment

 Venue : Federation House, Tansen Marg, New Delhi.

Organized by : Federation of Indian Chambers of Commerce & Industry 
         
(In co-operation with the OECD, the IBFD, and the European Commission).
          
E-Mail: ficcisg@bol.net.in   Website: https://www.ficci.com

 

INDIA INTERNATIONAL TRADE FAIR

                                               November 14th-27th 2002

  •  Theme of Fair: Services Exports & Tourism

  • Technology Transfers, Joint Venture Options

  • Exhibition Comprising Variety of Commodity Sectors

 

Venue: Pragati Maidan, New Delhi

Organized by: India Trade Promotion Organization (ITPO)
E-Mail - (Europe) office: info@itpofrankfurt.com
Websites: https://iitfonline.com   or   www.itpofrankfurt.com

 

INDIA STONEMART 2003

Jan 31-Feb 4, 2003

Dimensional Stones (Granite, Marble, Limestone, Sandstone, Slate, etc.)

 

Venue: Jaipur, India 
Organized by: Centre for Development of Stones, Jaipur. 
E-Mail: cdosindia@cdos-india.com 
Website: www.cdos-india.com  or  www.India-stonemart.com

 

Published by Economic & Commercial Section, Embassy of India, 15, Vangehusvej, DK-2100 Copenhagen, Tel: 39290854, Fax: 00 45 39270218 E-Mail: india@email.dk    
Website: https://www.indian-embassy.dk/

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