India’s well-known Kerala state, which relies on foreign remittances for almost a third of its economy, does not plan to petition for investments at next month’s investors' meet, according to a state government agency.
The Indo-Arab Chamber of Commerce & Industries has set up its South India chapter in Bangalore to accelerate trade, investments and joint ventures between industries located in the four southern states and 18 countries in the Arab world. "The chapter will strive to identify new areas of cooperation for promoting trade, investments and joint ventures between Indian industries and their counterparts in the Arab countries," the chapter's executive director Asif Iqbal said in a statement.
The violence at Maruti Suzuki's Manesar plant, which left one senior executive dead, will not impact on investments in Haryana, Chief Minister Bhupinder Singh Hooda said. "One untoward incident cannot have so many implications. The incident won't have any impact on the investment friendly atmosphere and future of industries in the state. I can assure that," said Hooda on the sidelines of a programme in Kolkata.
The Union Cabinet has approved a special incentive package to promote large-scale manufacturing in the electronic system design and manufacturing (ESDM) sector. The scheme, called the Modified Special Incentive Package Scheme (M-SIPS), provides subsidy for investments in capital expenditure - 20 percent for investments in special economic zones (SEZs) and 25 percent in non-SEZs.
Bilateral trade between India and Nepal could touch USD10 billion over the next five years, its envoy to India said. "Our trade with India has shown good growth. Nepal has great investment potential in sectors such as hydropower, tourism and exotic agricultural products" acting ambassador KN Adhikari said at a seminar organised by Confederation of Indian Industry in Kolkata.
Most Indian firms have recovered business confidence, but stagnancy in reforms, high interest rates and increased raw material costs still remain top concerns, according to a survey by industry lobby, Confederation of Indian Industry (CII).