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Friday,
September 5, 2003, Chandigarh, India  
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FDI set to
rise in India Himachal
to explore apple export
Copter for
exporters at proposed zone
Morepen to
launch blood testing device
Petrol
version of Safari launched |
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FDI set to rise in India
New Delhi, September 4 While FDI flows into India increased in 2002, globally it fell by 21 per cent to touch $651 billion, the UNCTAD’s “World Investment Report” released globally today said. Globally the prospects for a recovery in 2003 is uncertain at best. Preliminary data do not suggest a rebound. Much will depend on the overall economic situation, especially in the main home countries, it said. However, the report said the “prospects for FDI flows to China and India are promising, assuming that both countries want to accord FDI a role in their development process.” The large market size and potential, the skilled labour force and the low-wage cost will remain attractive. China will continue to be the magnet of FDI flows and India’s biggest competitor, it said. But, FDI flows to India are set to rise — helped by a vibrant domestic enterprise sector and if policy reforms continue and the government is committed to the objective of attracting FDI flows to the country, the report said. Foreign direct investment to India grew marginally by 1.35 per cent to $3.45 billion last year despite a sharp 40 per cent fall in inflows worldwide. On the global front, the report said the FDI flows this year are set to stabilise at around the depressed level seen in 2002, but a rebound is likely in 2004. FDI flows to South Asia increased from $4 billion in 2001 to $4.6 billion in 2002 due to higher flows to India, Pakistan and Sri Lanka. Driving the decline in FDI flows in 2001-02 was a combination of macro-economic factors — slump in economic activity linked to the business cycles in many parts of the world, especially the developed countries and tumbling stock markets, micro-economic factors like low corporate profits, financial restructuring and institutional factors like winding down of privatisation, loss of confidence in the wake of corporate scandals and the demise of some large corporations. On the prospects in this year, the report said China will remain the largest recipient of FDI flows among the developing countries and other countries in the region may have to adjust to this reality. Greater regional cooperation can be one avenue for this adjustment, as can moving up the value chain and improving competitiveness. India also has the potential attract significant FDI flows, much, however, will depend on the country’s
implementation of the policy reforms and the privatisation process. The other South Asian countries will continue to attract modest levels of FDI flows. Their locational advantage will be enhanced when the South Asian Free
Trade Area, now under negotiation, is launched, it said. FDI flows to India rose to $3.4 billion, sustaining it as the largest recipient in South Asia. On the other hand, the FDI inflow to China rose from $3.5 billion in 1990 to $52.7 billion in 2002. FDI has contributed to the rapid growth of China’s merchandise exports, at an annual rate of 15 per cent from 1989 to 2001. In India, FDI has been much less
important in driving India’s export growth, except in information technology. FDI in Indian manufacturing has been and remains domestic market-seeking.
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Himachal to explore apple export Chandigarh, September 4 The state government’s failure to ensure the
availability of adequate packaging trays and remunerative price for this cash crop has drawn flak from opposition parties and farmer lobbies recently. The farmers have been forced to sell the crop at less than 50 per cent price as compared to last year’s price. Mr Singhi Ram, Minister for Food Supply and Consumer Affairs talking from Shimla said: “The state government has received various queries from some firms dealing with exports of fruit. We are making efforts to struck deals for the hi-quality Kinnaur variety of apple which has high demand in the national and international markets.” The production of the apple in the state is likely to cross 5.5 lakh tonnes this year as against about 4 lakh tonnes last year. Some traders in Delhi have been exporting apple from the state after packaging these in hi-quality trays. A senior official of the Horticulture Produce, Marketing and Processing Corporation (HPMC) disclosed that some parties had shown keen interest to purchase about 25,000 boxes of apple for exporting to Malaysia. A deal in this regard is likely to struck soon. He said the Kinnaur variety which was being sold for up to Rs 40 per kg in the Mumbai and other markets, would be promoted for exports. Market analysts pointed out that if trade relations with Pakistan improved, the state could export apples to that country as well. At present, they said, Pakistan was importing apple from Iran and China at much higher rate. Mr Munishwar Kapoor, Director Marketing, Mohan Fibre Products Ltd, said, “There is a large scope of exports of the Himachal apple provided the state government can facilitate proper grading, branding and packaging besides marketing the product abroad”. Mr Singhi Ram admitted that limited demand in the domestic market, higher transport costs, poor packaging material and inadequate storage capacity in the state were affecting the price of the apple. Reacting to the crash of the apple price in Chandigarh and Delhi markets, he said, “Poor packaging and glut in the market has resulted in the crash of prices. But from next year, we will ensure that no low-quality apple goes out of the state. It would be procured only by the state agencies.”
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Copter for exporters at proposed zone Samana, September 4 Disclosing this here today, after addressing a gathering, Mandi Board Chairman Sant Ram Singla said the board wanted to create the international level facilities in Amritsar and Ludhiana. Keeping this in mind, the board had proposed to arrange maximum facilities to boost exports, including a helicopter service. Mr Singla said an expert team of the board would visit Pune and Bangalore soon to study the fruit and grain markets there and create facilities of the same order or even better. At Ludhiana, the fruit market was being developed at a cost of Rs 60 crore and would be accompanied with cold storages and provision for further linkage with a cold chain to ensure easy movement of fruit for export. Mr Singla also disclosed that the board had taken a decision to transfer the maintenance of its 50 guest houses in the state to the Punjab Arhtiya Association so that they could allocate rooms to farmers and ensure they were not misused by anyone else. Guest houses which were in the occupation of other departments, including the Samana guest house which was in the occupation of the police, would get vacated. Work on Mandi Board roads would start from this month. In the first phase the government would take up repair of roads. He said 5,137 km roads would be repaired this season at Rs 228 crore. He said, besides this, Rs 40 crore would be spent on doing patchwork on board roads besides Rs 25 crore on development of new grain markets. Addressing a rally at the New Grain Market, he also announced that the board expected a bumper paddy crop and was making preparations accordingly. He said he had already directed all District Mandi Officers and Executive Engineers to tour all markets under them and rectify problems regarding water supply and sewerage. In view of the expected bumper crop the Board was also creating alternative storage space. Punjab Arhatiya Association patron Bal Krishan Singla urged the Board Chairman to reduce the reserve price of shops being offered to arhtiyas in the New Grain Market. |
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