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| Momentous changes predicted in Indian aviation scene NEW DELHI, Feb 22: An international aviation think-tank has predicted "momentous changes" in the Indian aviation......more Auto,
cement and drugs see NEW DELHI, Feb 22: Auto industry, cement, drugs, chemicals and industrial products are expected to record excellent......more FIIs net
investment in MUMBAI, Feb 22: The Indian capital markets continued to attract Foreign Institutional Investors (FIIs) as they registered.........more Inflation
increases NEW DELHI, Feb 22: The annual rate of inflation has increased to 5.91 per cent, a rise of 0.11 per cent, for the week ended.......more |
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Hot Billions opens
stalls Excelsior Correspondent JAMMU, Feb 22: Hot Billions Fast Food Family Restaurant today opened stalls of different .........more Dollar’s
global rebound MUMBAI, Feb 22: The rupee is seen in a softening bias against the US dollar during the week, weighing down the.....more Tata steel
eyes 15 million KOLKATA, Feb 22: Private sector steel giant Tata Steel has fixed its annual production ....more Reliance
to start work NEW DELHI, Feb 22: Reliance industries today said that construction work at its 3500-Mw gas based power plant......more |
Momentous changes predicted in Indian aviation scene NEW DELHI, Feb 22: An international aviation think-tank has predicted "momentous changes" in the Indian aviation scene this year, saying the pace of developments in the sector after elections would provoke significantly higher traffic growth in the latter part of 2004. "Once elections are completed, probably late in April, the momentum of change should accelerate, provoking significantly higher traffic growth rates in the latter half of the calender year with a particularly strong final quarter", the Centre for Asia-Pacific aviation, a Sydney-based research and consultancy organisation, said in its latest report. Assuming that the Government would accept most of the recommendations of the high-level Naresh Chandra committee which provided a roadmap for the aviation sector, it said the year would be that of "momentous changes" in the sector in India. "The outlook is one of guarded optimism bordering on confidence that a workable framework is in place for the future development of the industry", the Centre’s `aviation outlook 2004' said. Observing that India came through unscathed in the SARS crisis that affected a large part of Asia, it said the upward trend shown in in-bound tourism would continue and 2004 was "expected to be another strong year of growth, with arrivals likely to exceed three million for the first time". On privatisation of Delhi and Mumbai airports, the Centre for Asia-Pacific aviation said after the appointment of Abn Amro as the financial advisor on the matter, the privatisation plan was "now poised to finally achieve its aim of modernising the country’s premier gateways". "Further airport reforms are expected to be announced in the first quarter", including a policy on airport services and ground handling, the report said, noting the progress in construction of new airports at Bangalore and Hyderabad. It said the Government-owned carriers Air India and Indian Airlines "are now presented with a short timetable for change, to adapt to this new environment". This year would be "a year of challenge for them as they make the transition to new generation — probably private — airlines". Capital inflows should create further economic activity as airport privatisation progressed and confidence develops in creating tourism infrastructure. "The inertia surrounding India’s Civil Aviation Policy in recent years has made way for a series of encouraging developments", it said referring to introduction of limited `open sky’ policy during winters, abolition of airport taxes, reduction in excise duties on aviation turbine fuel and consequent slashing of prices by domestic airlines. "These moves alone promise strong growth in 2004". The Centre also noted the cabinet decision to allow domestic private carriers to fly to SAARC countries and resumption of air services between India and Pakistan, stalled after the Kargil war. "The resulting effects on travel and tourism could unleash substantial capital investment, especially as the major airports are privatised", it said. (PTI) |
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Auto, cement and drugs see excellent export prospects NEW DELHI, Feb 22: Auto industry, cement, drugs, chemicals and industrial products are expected to record excellent growth in exports in the first six months of 2004, according to a survey. "In January-June 2004, exports are expected to grow more Tha 20 per cent year-on-year for some major sectors like auto components, automobiles industry, ball and roller bearings, cement, fluid power, electronic components, refractories, synthetic fibre and chemicals (alkali)," the survey by Confederation of Indian Industry said. Exports of products like industrial valves, glass, drugs and pharmaceuticals, cold rolled steel strips, ceramics, automotive tyre, aluminium will grow 10 to 20 per cent. Responding to the survey on ‘procedural issues in exports’ 60 per cent of the companies revealed that their export prospects wer good. Twenty-six per cent of the respondents felt that their exports prospects were excellent while only six per cent felt that it was not as good as last year. About 70 per cent of the respondents felt that the global slowdown has moderately affected exports from India, while 12 per cent felt that it had significantly affected exports and 10 per cent felt it had no effect at all. Substantial proportion of respondents (74 per cent) felt that Indian exports growth of 2002-2003 of about 18 per cent was sustainable in the current year, while only 26 per cent respondent felt that this growth rate may not be sustainable. On the issue of growth prospects for their respective companies, about 44 per cent respondents felt that the expected growth rate during the current fiscal would be 10-20 per cent, about 22 per cent expected 20-30 per cent growth, 15 per cent expected below 10 per cent, 15 per cent expected above 50 per cent and two per cent expected 30-40 per cent growth rate. Seventy-three per cent of respondents - when asked about the issues related to the manufacturing sector, particularly on flexibility of fema for the import-export business - felt that fema was flexible enough, while 27 per cent felt otherwise. The respondents suggested certain changes in fema rules and regulations like allowing transfer of goods to branch companies. Secondly, the respondents felt that involvement of banks at two points should be abolished and finally forms A1 and A2 for remittance in foreign exchange for imports should be scrapped. About 60 per cent of the respondents conveyed dissatisfaction with custom procedures, while only 40 per cent were satisfied with custom procedures. Some of the changes suggested in custom procedures during the survey included careful handling of goods by custom authorities while checking, avoiding constant failure of edi system hampering shipments, allowing courier exports at Goa, and introduction of parallel system incase of breakdown and finally better co-ordination between customs and Director General of Foreign Trade (DGFT). The survey highlighted the need for improvement at the ports and airports. These include faster movement of containers from CWC, allowing operation by more than one container freight contractor, concerted efforts be made for reduced turn around time for vessels and allow acceptance of transit bonds at airport for EoU’s. Asked about some issues related to project exports, about 60 per cent respondents to the survey felt that the prospects for project exports from India vis-a-vis west Asia were very good, while 40 per cent felt that the prospects are good while no one felt that it was bad. The survey revealed that availability of low cost fund, better infrastructure and flight services, remittance for working capital, borrowing by local branches would enhance the growth of project exports from India. Referring to issues related to the service sector, about 80 per cent felt that five years was adequate period for approval of Stpi S, while 20 per cent suggested it was too less. The respondents also put forward certain suggestions pertaining to the services sector. They felt that the facility for setting up Stpi was good and conducive to growth. It was felt that the ideal approval period for Stpi S should be 10 years and procedures should be guidelines and not rules. (UNI) |
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FIIs net
investment in Indian capital mkt MUMBAI, Feb 22: The Indian capital markets continued to attract Foreign Institutional Investors (FIIs) as they registered net purchases of over Rs 1,00,000 crore on cumulative basis till the trading week ended February 21. The FIIs made gross purchases of Rs 4,23,104.7 crore and sales of 3,22,372.9 crore, thus registering a net inflow of Rs 1,00,732.9 crore (USd 24,355.6 mn), according to the data available with Securities and Exchange Board of India (SEBI). The number of registered FIIs as on February 20 stood at 533 and in last 14 months, the net purchases have increased by Rs 41,783.6 crore (USd 9,046.7 mn). SEBI data showed that the highest net inflow in the Indian capital market since 1993 was in 2003 at Rs 35,153.8 crore (USd 7,590.9 million). The net investment in the year 1993 was pegged at Rs 2,595.1 crore (USd 827.2 mn), followed by Rs 6,791.2 crore (USd 2,164.8 mn) in the next year. The year 1998, however, saw the foreign funds registering a net outflow to the tune of Rs 1,479.9 crore (USd 338 mn). As per the data with capital market regulator, FIIs net investments in year 2001, 1996 and 1999 stood at Rs 13,292.7 crore (USd 2,843.3 mn), Rs 10,803.6 crore (USd 3,058.6 mn) and Rs 6,696.8 crore (USd 1,559.9 mn) respectively. In the current year 2004, the gross purchases and sales were Rs 29,899.5 crore and Rs 23,270.2 crore respestively to record net inflow of Rs 6,629.8 crore (USd 1,456 mn). For the trading week ended February 21, FIIs netted purchases of Rs 1,120.7 crore (USd 246.6 crore) in equities while remaining net sellers in debt at Rs 46.2 crore (USd 10.2 million). Mutual Funds in the period under review recorded net outflows both in equities and debt at Rs 302.88 crore and Rs 106.52 crore respectively. FIIs were net buyers in equities for all the five trading days and registered their highest net purchases of the week at Rs 377 crore (USd 82.9 mn) on February 19 followed by Rs 367.7 crore (USd 80.9 mn) on the earlier day. In debt, they were inactive for three trading days. MFs, however, were net sellers in equities at Rs 64.46 crore, Rs 150.2 crore and Rs 90.03 crore on the first three days of the week. On the debt front, they netted sales of Rs 4.28 crore, Rs 11.96 crore and Rs 90.28 crore on February 16, 17 and 19 respectively. (PTI) |
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Inflation increases to 5.91 pc NEW DELHI, Feb 22: The annual rate of inflation has increased to 5.91 per cent, a rise of 0.11 per cent, for the week ended february 7 despite a sharp decline in the price of poultry chicken and eggs due to bird flu scare. It was 5.80 during the previous week and 5.35 per cent in the year-ago period. However, the Wholesale Price Index (WPI) for all commodities for the period rose by 0.2 per cent to 179.2 from 178.9 for the previous week. The index for the major group of primary articles declined by 0.4 per cent to 181.8 from 182.6 for the previous week. In the food articles group, which fell by 0.8 per cent to 179.6, prices of poultry chicken saw a sharp decline of 33 per cent, followed by eggs 9 per cent, tea 8 per cent, fish marine two per cent and fruits and vegetable and maize by one per cent each. However, the prices of gram, mutton, rice and condiments and spices moved up by one per cent each. In the non-food articles group, the index rose by 0.4 per cent to 192.5 from 191.8 due to lower prices of raw silk (4 per cent), fodder (3 per cent), groundnut seed (2 per cent), and tobacco, cotton and linseed (one per cent each). However, the prices of skins (raw) and copra (2 per cent each) and raw rubber (1 per cent) declined. The index for fuel, power, light and lubricants rose by 0.4 per cent to 263.3 due to higher prices of naphtha (9 per cent) and furnace oil (4 per cent). However, the prices of bitumin declined by 2 per cent. The index for manufactured products rose by 0.3 per cent to 159.5 from 159.1 for the previous week. The food products’ group index increased 0.5 per cent due to higher prices of sugar and cotton seed oil (4 per cent each), khandsari and ghee (2 per cent each) and rice bran oil, maida, rape and mustard oil, coconut oil, groundnut oil, sooji (rawa) and atta (1 per cent each). However, the prices of oil cakes (4 per cent) and bran (3 per cent) declined. For the textiles group, the index rose by 0.5 per cent to 138.1 from 137.4 due to higher prices of hessian and sacking bags (15 per cent), hessian cloth (9 per cent) and polyster staple fibre (1 per cent). However, the prices of tyre cord fabric (5 per cent) declined. The index for rubber and plastic products group moved up by 1 per cent to 134.6 due to higher prices of cycle tubes (8 per cent), cycle tyres (7 per cent) and decorative laminates (1 per cent). The index for chemicals and chemical products group was up by 0.2 per cent to 178.1 following higher prices of epoxy resins (30 per cent), ayurvedic medicine liquids (3 per cent) and caustic soda (1 per cent). For the non metallic mineral products group, the index rose by 0.1 per cent to 151.3 due to higher prices of building bricks (2 per cent) and marginal increase in the prices of cement. The index for basic metals alloys and metal products group declined by 0.1 per cent to 176.8 due to lower prices of zinc (10 per cent). For the transport equipment and parts group, the index rose by 0.1 per cent to 147.9 due to higher prices of bicycles (1 per cent). The WPI for all commodities for the week ended December 31 has been revised to 176.8 as against 176.4 (provisional) and annual rate of infaltion based on final index stood at 5.80 per cent as against 5.57 per cent (provisional). (UNI) |
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Hot Billions opens stalls of different fast food items Excelsior Correspondent JAMMU, Feb 22: Hot Billions Fast Food Family Restaurant today opened stalls of different fast food items. The stalls were inaugurated by children of SOS Home. Talking to media-persons after the inauguration of the stalls, Mr Sanjeev Bhasin, Proprietor of the Restaurant said that experienced cooks and staff hired from outside the State have the expertise to prepare mouth watering delicious items. "At these stalls one can have Pani Poori, Gol Gappa, Channa Bhathura, Pau Bhaji, Aalloo Tikki, Chowmein, Dosa, Bhel Poori and different varieties of ice-creams and Matka Kulfi are being cooked under most hygenic conditions", he said, adding "we are committed to use high quality materials so that customers can have upto the mark satisfaction". Mr Bhasin further said that more and more delicasies would be introduced in the restaurant while maintaining the unmatched quality of the food. |
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Dollar’s global rebound and
month-end MUMBAI, Feb 22: The rupee is seen in a softening bias against the US dollar during the week, weighing down the greenback’s strong weekend rebound and the expected month-end dollar demand, forex dealers said. The dollar’ rise to a six-week high against the yen and two-week peak versus the euro last Friday, and the customary month-end corporate dollar covering by importers, especially by oil companies, could slightly pressure the rupee during the week even as strong export and foreign fund inflows would limit the rupee’s downward movement, a treasury head at a private brokerage firm said. Despite the temporary mismatch in dollar demand and supplies, the mid-term undertone continues to be positive for the rupee, with the unabated foreign fund inflows into the stock markets, the expectation of strong ECB route inflows as well as the ever increasing forex reserves which crossed the 107-billion mark to a new record high of 107.506-billion, he said. The Government of India has prepaid a portion of foreign currency loans of Asian Development Bank amounting to 123.11 billion Japanese yen (Rs5,294.84-crore) on Monday, keeping in view the strong foreign exchange position and interest rates prevailing in the domestic market. Foreign Institutional Investors (FIIs) have made a net investment of Rs 1,074.5-crore in equity and debt markets during the week ended February 20, taking their total inflow to Rs 2,806.6-crore in February so far, as against their total investment of Rs 3,869.3-crore in January, 2004. During the week ended February 20, the rupee ended marginally lower at 45.25/26, after moving in a relatively wide range of 45.23-30, with slight mismatch in dollar demand and supplies due to intervening domestic and New York holidays. While New York markets closed on Monday, banks in Mumbai had a holiday on Wednesday. Rupee opened the week at its 3-1/2 year high at 45.23, slipped to the week’s low of 45.29/ 30 on Monday after banks built dollar positions, anticipating corporate dollar demand and short dollar supplies the next day due to the US holiday. However, unwinding of dollar positions by banks in later part of the week helped to rupee to recover partially to end the week at 45.25/ 26, down by two paise from 45.23/ 24 of its previous weekend. Forward dollar market witnessed lackluster activity and premium remained range-bound during the week. The sixth month annualised premium finished the week at 0.39 per cent, marginally up from 0.37 per cent of its previous week’s close. In the cross currency deals, the rupee which slipped against the dollar, closed the week 71 paise stronger against euro at 57.30 (58.01), 32 paise higher against pound sterling at 85.27 (85.59) and Rs 1.01 up against the Japanese yen at 41.94 (42.95), as dollar staged a strong recovery in global markets. At the international forex markets, the dollar rose to six-week high against the yen at 107.92 yen and a two-week peak versus the euro at 1.2655 during the week as investors snapped up the greenback to cover oversold positions after months of dumping it against a wide range of currencies. (UNI) |
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Tata steel eyes 15 million tonnes production by 2010 KOLKATA, Feb 22: Private sector steel giant Tata Steel has fixed its annual production target to a whopping 15 million tonnes by 2010 from the present capacity of 3.5 million tonnes, senior sources in the Tata steel said here today. In the wake of a new resurgence in the steel industry worldwide after it came out of a long recessionary period, the Tata steel has decided to increase its production capacity by manifold in phases to meet the growing demand from both in and outside the country, the sources said. From the present 3.5 million tonnes of annual capacity, we will first go up to 4.5 million tonnes by next year before touching the seven million tonnes production by 2007, ten million tonnes by 2008 and ultimately 15 million tonnes by 2010, the sources elaborated about the steel major’s future plans. Asked whether the Jamshedpur plant of Tata Steel would be capable of meeting the entire production target keeping in view the all-round increase in the business, the sources replied in the negative. Following certain limitations, Tata Steel’s Jamshedpur Plant would be able to take care of only 50 per cent of the total production, while the remaining 50 per cent would be produced elsewhere, both within India and outside, the sources clarified. Further elaborating, the sources said among the countries where Tata steel would also produce steel to meet the entire demand were China, Singapore, Thailand, Malaysia and Croeatia. No further detail about agreements with them was presently available as the plan was yet to be worked out to our full satisfaction, the sources added. About Tata steel’s plan for expansion, with special reference to Gopalpur in Orissa where it had brought a huge chunk of land a few years ago for setting up a second steel unit after Jamshedpur, the sources quoting the top management decisions said as the land still belonged to Tata steel on paper, the project should be considered as still on . But in absence of any railway connectivity, facilities of water, round-the-clock power supply and availability of other infrastructural facilities at the project site, all of which now looked a distant dream, there was no possibility of the project taking off in the forseable future, the sources explained. However, Tata steel was taking necessary steps to ensure adequate supply of raw materials like iron ore from its own mines during all these intervening period of higher productivity, the sources said but ruled out the possibility of any new acquisition in this regard. (UNI) |
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Reliance to start work at 3500
mw plant; NEW DELHI, Feb 22: Reliance industries today said that construction work at its 3500-Mw gas based power plant at Dadri in Uttar Pradesh will start soon. Speaking at a high-profile function after laying of the foundation stone of the Rs 10,000 crore project by up Chief Minister Mulayam Singh Yadav, Anil Ambani, vice chairman and managing director of Reliance group said the construction work at the site would start soon. "We have acquired 2500 acres of land at Dadri...We have applied for various clearances including environment... But the construction work will start very soon," Ambani said adding that land has been bought at the cost of Rs 100 crore. Ambani was accompanied by his wife at the glittering foundation stone laying ceremony which was also attended by Union Power Minister Anant Geete, his deputy Jaywanti Mehta, Power Secretary R V Shahi and CMDs of various central power utilities including NTPC, PFC and PGCIL. He said that first phase of 1200 mw would be completed within 24 months from starting, known as zero date. "We have applied for various clearance... I am sure when we meet here again this plant would be up and running," he added. Earlier, Yadav named the site of the plant as "Dhirubhai Ambani Urja Nagar". About the tariffs, Ambani said "based on current techno-economic parameters of the project it will be possible for us to generate power at roughly Rs two a unit." On the issue of tariff for consumers, Ambani said "we shall be selling electricity to up state at Rs two a unit after that it is upto the State Government to decide the tariff for consumers." He said that generating power at Rs two per unit would be globally competitive and this was possible because the gas would be sourced from Reliance group’s Dhirubhai gas fields in the Krishna Godavari basin, off the coast of Andhra Pradesh. About the funding of the project, Ambani had earlier said the equity portion of the investment would come from internal acrruals while rest of the money would be arranged from a mix of international borrowing and domestic debt. Amar Singh, general secretary of Samajwadi Party, said that "we have met Prime Minister Atal Bihari Vajpayee and Deputy Prime Minister L K Advani for faster environmental clearances." Mulayam Singh Yadav also invited other industrial houses to come to the state for investments. (PTI) |
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SCR reschedules trains on account of TDP mega meet HYDERABAD, Feb 22: The South Central Railway (SCR) rescheduled the timings of five express trains leaving from here in view of the plying of 22 special trains for the Telugu Desam Party’s ‘Vijaya Bheri’ meeting today. The Hyderabad-Kochi ‘Sabari Express’ scheduled to leave here at 1200 Hrs would now depart at 1800 Hrs, the Secunderabad-Visakhapatnam ‘Visakha Express’ (1700 Hrs) would leave at 2100 Hrs, the Secunderabad-Howrah ‘Falaknuma Express’ (1740 Hrs) would depart at 1940 Hrs, the Hyderabad-Chennai ‘Chennai Express’ (1550 Hrs) would leave at 2300 Hrs and the Hyderabad-Chennai ‘Charminar Express’ would leave at 2330 Hrs, an SCR release said here. The special trains which arrived here since last evening, would commence the return journey soon after the completion of the meeting in the evening. (UNI) |
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GEA, FIEO blast CBDT’s move to slash DEPB rates NEW DELHI, Feb 22: Major exporters have criticised a recent circular issued by the Central Board of Direct Taxes (CBDT) to bring profits on sale or transfer of DEPB licence under the tax net. This has given a jolt to the industry which is already on the edge with impending phase-out of quotas under the WTO agreement on textiles and clothing, they said. The Garment Exporters Association (GEO) said the move has followed the Government’s recent decision to slash DEPB as well as duty drawback rates. These measures will have a crippling effect on exports which are currently reeling from the rising value of Indian rupee against the US dollar in recent months, GEA president H K L Magu said. Exporters perceive the DEPB scheme as a major instrument of export promotion having been in force for the past few years. "But the CBDT decision to tax profit on sale of DEPB licences will erode waver-thin margins on export profit," Mr Magu said. The GEA said the decision to tax profit arising from the transfer of DEPB licences allowed under the scheme followed findings of a panel set up by the CBDT to resolve a face-off between exporters and the Government. In fact, the process of taxing the profit element had been kept in abeyance since August 2003. After the committee’s report assessments were put on hold till November 30 last year and later upto February 17. The GEA said reduction in the DEPB and drawback rates will result in an estimated business loss of Rs 10,000 crore upto June 04 for which contracts have already been finalised with overseas buyers. Meanwhile, the Federation of Indian Export Organisations (FIEO) also echoed similar sentiments and said exporters will not be in a position to reopen the FOB (Free on Board) or the export price with overseas buyers as contracts have already been concluded with them. The least the Government could do in the present situation is to restore status quo, it said. (UNI) |
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SAIF zone beckons Indian investors NEW DELHI, Feb 22: Sharjah, the third largest in seven states that constitute the United Arab Emirates (UAE), has invited Indian investors and said its SAIF zone is the centrepiece of Government’s commitment to free trade. The Sharjah Airport International Free (SAIF) zone offers 100 per cent foreign ownership, repatriation of capital and profits, exemption from corporate and personal income taxes, besides free transfer of funds and stable currency linked to US dollar. "The SAIF zone is home to 1,156 companies having access to over two billion consumers," said its Deputy Director General Saqer Al-Qassemi. The strategically-located business hub provides sea and air connectivity with countries in the Gulf, Europe, the Commonwealth of Independent States (CIS), Africa and Asia, he said. Sharjah accounts for 45 per cent of UAE’s industrial GDP. Bilateral trade between India and the UAE totalled 4.5 billion dollars in 2003. (UNI) Sharjah to host ‘India: knowledge millennium economy’ NEW DELHI, Feb 22: The Sharjah Chamber of Commerce (SCCI) and the Associated Chambers of Commerce and Industry of India (ASSCCHAM) will jointly organise a three-day conference-cum-exhibition on "India: Knowledge Millennium Economy" in Sharjah in the first half of April. The event will focus on information technology, BPO, tourism, food processing, imports and exports. This was decided after a joint meeting of SCCI and ASSOCHAM following a seminar "UAE - the gateway for business to middle east, European and African countries." ASSOCHAM president M K Sanghi and the leader of the 5-member delegation Saeed Obaid Al Jarwan, Director General, SCCI, also agreed to strengthen the UAE desk at ASSOCHAM and India desk at SCCI for promoting, encouraging and facilitating imports-exports and investments. Mr Sanghi said since the uae was India’s top-most trading partner in the entire west Asia and north Africa (Wana) region and represented 70 per cent of India’s exports to the Gulf Cooperation Council (GCC) countries, there was tremendous scope as Indian exports to UAE accounted only for six per cent of India’s global exports. Besides its embassy in Abu Dhabi, India has a consulate general also in Dubai, keeping in view the volume of bilateral trade and importance of Dubai as a Centre for re-exports. The growth in bilateral trade is substantive. Indian exports, which stood at a little over two billion dollars in 1999-2000, today exceed three billion dollars. India also imported around 800 million dollars worth of goods from the UAE in 2002-03. "The trend is encouraging and we hope to see bilateral trade cross five billion dollars," the ASSOCHAM chief said. Major items of India’s exports to UAE have been readymade garments, including accessories, gems and jewellery, manmade yarn, fabrics, madeups, metals, marine products, machinery and instruments, plastic and linoleum products, tea, electronic goods, meat and preparations. Major items of imports are pearls, precious/semi-precious stones, gold, metal and metal scrap, machineries, sulphur and unrusted iron pyrts, non-ferrous metals, pulp and waste paper and other commodities. UAE is a major trading partner of India in the Gulf region and is its largest market in the middle east. India’s exports to the uae are diversified and contain a large basket of goods. (UNI) |
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